Jan 30 2009

Finally a nice day. Started out with some scalps, couple stops, slightly positive but nothing earthshaking. Then FAS gave us a string of quick scalps making a day much nicer. Glad to finish otherwise tough week on a winning note.

Session Time: Fri Jan 30 00:00:00 2009

[07:49] {hawkfan4} morning

[07:49] {Threei}  good morning

[07:50] {hawkfan4} hey vad, are you able to log in to Laser this morning?  

[07:50] {Threei}  not yet

[07:50] {hawkfan4} ok, thanks, me either

[07:51] {Threei}  I guess quotes are disgusted with themselves

[07:51] {hawkfan4} as they should be :)

[07:51] {hawkfan4} brb

[08:07] {nemo} GM

[08:09] {Threei}  nemo :)

[08:09] {Threei}  JPM

[08:09] {Threei}  CEO JAMIE DIMON: WE WILL NOT SELL ASSETS TO "BAD BANK"

[08:09] {Threei}  - Mark to market accounting exaccerbated crisis but did not cause it

[08:11] {magoo} morn

[08:11] {Threei}  magoo :)

[08:13] {magoo} amzn holds so far

[08:14] {Threei}  BALTIC DRY BULK INDEX +3.3%

[08:19] {magoo} GERN ngapping vad

[08:19] {magoo} any read pre?

[08:19] {Threei}  not yet

[08:19] {magoo} could make its best move pre

[08:19] {magoo} with lower volume

[08:20] {Threei}  this animal is not easy to read even during market hours, lol

[08:22] {cujo} Happy Friday.

[08:23] {magoo} cujo

[08:23] {Threei}  cujo :)

[08:23] {magoo} vad, any news AA{L RIMM

[08:24] {Threei}  no, other than this:

[08:24] {Threei}  01/29/09 07:04pm [DELL] May seek to move into the mobile phone business as early as next month

[08:25] {magoo} ty

[08:26] {hawkfan4} morning all

[08:26] {Threei}  hawk :)

[08:26] {Threei}  no idea what's driving GERN this time

[08:27] {nemo} samething that drove oil:)

[08:30] {Threei}  *Q4 EMPLOYMENT COST INDEX: 0.5% V 0.7%E

[08:31] {nemo} what story just drove FAS?

[08:31] {Threei}  Q4 ADVANCED GDP ANNUALIZED: -3.8% V -5.5%E; PERSONAL CONSUMPTION: -3.5% -3.5%E

[08:37] {Threei}  maniak-depressive market

[08:37] {Threei}  from extreme depression to elation and back in minutes

[08:41] {nemo} larisa :)

[08:41] {larisa} good morning :)

[08:41] {Threei}  pre-emptive greeting, nemo?

[08:41] {Threei}  larisa :)

[08:41] {nemo} ESP

[08:41] {larisa} nemo, threei :)

[08:41] {Threei}  RIMM

[08:41] {Threei}  PRICE TARGET RAISED TO $85 FROM $62 AT BROADPOINT, MAINTAINS BUY RATING

[08:42] {nemo} so...sell?

[08:48] {Threei}  4.2 earthquake in Seattle

[08:49] {hawkfan4} yikes

[08:52] {Threei}  4.6

[08:52] {dino} gm

[08:53] {Threei}  dino :)

[08:53] {cosmo} http://earthquake.usgs.gov/eqcenter/recenteqsus/Maps/US2/47.49.-123.-121.php

[08:53] {Onix} Good morning all

[08:53] {dino} ks dcc please

[08:53] {Threei}  onix :)

[08:56] {Threei}  got e-mail from someone who reads our trading logs saying:

[08:56] {Threei}  in case you are wondering what is behind PALM move,

[08:56] {Threei}  it's about to become a subject of bidding war

[08:56] {Threei}  initiated by DELL seeking entry in smartphone market

[08:57] {Threei}  and continued by AAPL and RIMM trying to prevent DELL from getting hands on PALM's echnoogy

[08:57] {elepet} good morning

[08:57] {cujo} morning el

[08:57] {Threei}  elepet :)

[08:58] {hawkfan4} i heard PALM tries really hard to keep their echnoogy a secret

[08:58] {elepet} and PALM moving up again

[08:58] {Threei}  not that I put any faith into "insider secrets" disseminated by e-mail

[08:58] {nemo} very logical though

[08:59] {Threei}  or have enough industry knowledge to evaluate the probability

[09:00] {dino} dell did announce phone entry last night

[09:00] {Threei}  01/29/09 07:04pm

[09:00] {Threei}  [DELL] Dell Inc May seek to move into the mobile phone business as early as next month - WSJ

[09:00] {Threei}  - Company is said to have a team of engineers working on the phones for over a year, focusing on "smart-phone" models

[09:01] {nemo} No.  But if you look at Dell, it runs from back office to desktop to mobile computing, that's basically what a PALM is, mobile computing.  Apple is primarily desktop, and with the Iphone-mobile computing.  RIMM-mobile computing.  Dell is in both business and consumer.  Apple-primarily consumer, RIMM-primarily business

[09:01] {Threei}  doesn't sound like they are gunning for PALM

[09:11] {ese} god morning

[09:11] {Threei}  ese :)

[09:11] {dino} complex

[09:11] {ese} Vad ,patience Dp.......you guys feel the earthquake about 5:20 am heere?

[09:12] {Threei}  no... reports said 4.6 in seattle

[09:12] {magoo} vad..whats the setup AMZN today?

[09:13] {Threei}  what do you mean today

[09:14] {Threei}  it's not like there is one setup for the day :)

[09:14] {magoo} well..its gonna be a player

[09:14] {magoo} but it may pullbk..or at open may run

[09:14] {Threei}  yes... but I don't know how to answer your question :)

[09:14] {Threei}  it will shape up to something

[09:14] {magoo} are u moody AGAIN

[09:14] {Threei}  again?

[09:14] {Threei}  ALWAYS!

[09:14] {magoo} ok ALWAYS

[09:15] {Threei}  there

[09:15] {nemo} battle plans only survive until initial engagement

[09:15] {magoo} there we go thinking alike

[09:15] {Threei}  ese, you felt it?

[09:17] {dino} you guys are tense today....take a chill

[09:17] {ese} ya thats what got me up

[09:17] {Threei}  we are dino... earthquake, you know :)

[09:17] {Threei}  wow... how come I haven't heard anything

[09:18] {Threei}  it's not like we are that far from each other

[09:18] {ese} I hate earthquakes.....any other disaster OK but earthquakes..........

[09:18] {Threei}  you would think if quake felt at your part from as far as Seattle, I should have felt it too

[09:18] {ese} at least you can see other things and have a chance to react.....but not an earthquake......

[09:19] {Threei}  sooo... our candidates so far PLAM, GERN, FAS

[09:19] {ese} it just hits you.......not time to react......give me tornados over this

[09:19] {Threei}  AMZN a bit later I think

[09:19] {Threei}  gotta let it calm down a little

[09:20] {dino} you see on trhe moon where i live, no earthquakes, tornados, etc. just snow, ice, cold

[09:20] {ese} I'll take it!!!!!

[09:20] {Threei}  nah... I'll take earthquake over ice and snow

[09:21] {cosmo} i like snow

[09:21] {Threei}  that's because you see it once every 15 years

[09:21] {cosmo} 25

[09:21] {Threei}  I've had my share... won't miss it it for another 25 years

[09:21] {Threei}  and then I die

[09:21] {Threei}  happily

[09:21] {fernp} Hello everybody

[09:21] {Threei}  fern :)

[09:22] {ese} fern

[09:22] {ese} anyway......whats the focus for this morning

[09:22] {Threei}  PREVIEW: JAN FINAL UNIVERSITY OF MICHIGAN CONFIDENCE INDEX DUE OUT AT 9:55AMET

[09:22] {Threei}  **consensus expectation: 61.9e v 61.9 preliminary

[09:22] {Threei}  - analyst estimates range between 60 and 65

[09:23] {Threei}  PALM, GERN, FAS, RIMM, AMZN

[09:23] {Threei}  and whatever scanner spits out

[09:23] {nemo} If you play FAS doesn't that bring FAZ in also...why or why not?

[09:24] {nemo} I mean...Yin and Yang, if you're into that sort of thing :)

[09:24] {Threei}  FAZ is much more volatile, thin, much hardcer to control risk

[09:24] {Threei}  look how much it dropped vs FAS spike

[09:25] {Threei}  60 cents on FAS vs 4 bucks on FAZ

[09:26] {nemo} yes, although there chart's are mirror images (almost)?

[09:26] {Threei}  sure

[09:26] {Threei}  you can play it if you are into that sort of thing, using FAS for read

[09:26] {Threei}  as it has smoother charts and easier triggers and stop to define

[09:26] {nemo} yeah, I like pain

[09:27] {nemo} oh "their charts"  damn english

[09:27] {cosmo} JNPR

[09:28] {cosmo} 15.43 hod

[09:36] {Threei} Long Setup:  RIMM  .50 break half lot

[09:37] {Threei}  stop under .30

[09:39] {Threei}  1:1

[09:39] {KSystems} took scalp

[09:39] {KSystems} thank you

[09:39] {Threei}  welcome

[09:40] {Threei}  GERN nears 8.50 resistance on daily

[09:40] {cujo} thanks Vad

[09:40] {cujo} great call

[09:40] {Threei}  in its usual jerky manner

[09:41] {Threei}  pullback to about .30 would be safer way to try it

[09:41] {dptl} gm all

[09:41] {Threei}  but overall, starts shaoing up as a runner

[09:41] {Threei}  dp :)

[09:42] {magoo} ty rimm bosds

[09:42] {Threei}  welcome

[09:42] {Threei}  AMZN, mama mia

[09:42] {Threei}  8.50 wall of offers gives GERN a pause

[09:42] {Threei}  but it should bust through it

[09:43] {Threei}  here is pullback

[09:43] {Threei}  maybe this way:

[09:43] {Threei}  half lot near .30

[09:43] {Threei}  stop under .10

[09:44] {Threei}  and add half lot if breaks .50

[09:45] {Threei}  AN CHICAGO PURCHASING MANAGERS INDEX: 33.3 V 34.9E

[09:45] {dino} larisa you nailed cat breakdown

[09:46] {Threei}  she is off today, will be back on Mon

[09:46] {Threei}  ok, who got GERN, you have options

[09:46] {Threei}  scalp, hold for break and run or add on break

[09:48] {Threei}  bring down that wall GERN

[09:48] {nemo} Thank you Mr. Gorbachev

[09:48] {Threei}  not yet...

[09:48] {Threei}  but should soon

[09:49] {cosmo} no thanks UBSS

[09:49] {cosmo} so far

[09:49] {magoo} a reload .30 area vad?

[09:49] {Threei}  you sold?

[09:49] {magoo} scalp..i am what i am

[09:50] {Threei}  don't know mags

[09:50] {Threei}  hard to tell

[09:50] {magoo} mkts got me in dime mode this week

[09:50] {Threei}  it should be breaking now

[09:50] {Threei}  amgn

[09:55] {Threei}  JAN FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 61.2 V 61.9E

[09:57] {magoo} p[rttyu good RIMM pllbk vad

[09:57] {magoo} Q pullsbk

[09:59] {magoo} lovely mkt 

[10:00] {nemo} yeah like poison ivy

[10:01] {hawkfan4} DRYS crushed again

[10:01] {fernp} cover FITB +.10

[10:02] {magoo} look at AAPL minute chart vad

[10:03] {magoo} 11 red bars

[10:04] {Threei}  not sure what you are trying to derive from that

[10:04] {ese} drys is a buy around that 5 bill mark though

[10:05] {magoo} ugliness

[10:07] {ese} market down days are less and less prolifick do ya mags...?

[10:07] {ese} do you think?

[10:08] {ese} seems to me anyway that we are getting to that point where there are less and less sellers....????

[10:09] {magoo} dunno ES..i kind o f think a retest of lows in feb

[10:09] {magoo} ugly

[10:10] {magoo} skeerry to us mere mortalls

[10:10] {nemo} mags, you lookin' in the mirror in the bathroom?

[10:10] {magoo} THAT DOES IT

[10:10] {nemo} Yeah, pick on the little guy!

06[10:11] * magoo slaps nemo around a bit with a large large heavy book of proper etiquet for newbies with fish smelling name

[10:11] {ese} i'm betting that around Jan 1 we had the right should pu in of a reverse head and shoulders pattern.....

[10:11] {ese} Jan 21....make that

[10:11] {nemo} right in the dorsal...thanks

[10:12] {elepet} palm dying?

[10:12] {Threei} Long Setup:  DRYS  .50 break ig stays above .40

[10:12] {dino} 1194 gap open

[10:13] {Threei}  just goes with market at this point elepet

[10:13] {dino} weekly lows fwiw, 8023, 1169, 827

[10:13] {ese} in 

[10:13] {magoo} in

[10:13] {ese} DRYS

[10:13] {KSystems} in

[10:14] {magoo} that pullbk no effect AMZN

[10:15] {magoo} Q bounce candidate somewhere..not yet

[10:15] {cujo} in

[10:15] {magoo} GERN dead i guess vad

[10:16] {Threei}  for nowe, yeah

[10:16] {dino} ok ndx filled

[10:16] {magoo} half out DRYS here?

[10:16] {magoo} LOL

[10:16] {magoo} scalpers joke

[10:17] {magoo} 60 magnate AMZN..NOT IN

[10:17] {Threei}  market finds no footing

[10:19] {nemo} I'll take one for the team..heading to the powder room

[10:20] {Threei}  magoo's restroom indicator becomes popular

[10:21] {ese} funny mags ....real funny........

[10:21] {magoo} l Q here .40

[10:23] {nemo} no worky

[10:23] {magoo} it is working

[10:23] {magoo} go again

[10:23] {hawkfan4} lol

[10:24] {Threei}  EIA: US NOV OIL DEMAND (REVISED) -7.7% Y/Y

[10:24] {Threei}  Nov?

[10:24] {Threei}  who cares?

[10:25] {ese} have dinos gut feeling from yesterday today........it's gonna be an up day by the end of it...i think the pressure is that way

[10:25] {patience} end of the month selling today

[10:25] {ese} OK mags i'm out half here for .01 profit

[10:26] {ese} just kidding....!!!!!

[10:29] {Threei}  another sharp drop Qs

[10:29] {nemo} good nite Irene...

[10:29] {dino}  feeling the same es. waiting for "bottom"

[10:30] {dino} watching mcd, cat, vsec, deck

[10:30] {nemo} fas closed opeing gap

[10:30] {Threei}  RU) RUSSIA HAS REPORTEDLY SPENT APPROX $4B IN SUPPORT OF ROUBLE IN CURRENT WEEK

[10:31] {ese} the rouble is rubble.......

[10:31] {Threei}  FED BUYING AGENCY DEBT OUTRIGHT; SEEKS DEALER BIDS BY 11AMET

[10:32] {ese} drys....stopped .-11

[10:32] {fernp} stopped DRYS

[10:32] {fernp} cover RF +.10

[10:32] {magoo} stop Q

[10:33] {Threei}  look at AMZN

[10:33] {Threei}  quite remarkable

[10:34] {magoo} if mkt went green it would hit 75 lol

[10:36] {fernp} cover BAC +.21

[10:37] {KSystems} hl l OII .24 stop .88

[10:39] {hawkfan4} CECO .92, stop under .70

[10:39] {magoo} any read GS hawk/

[10:39] {magoo} ?

[10:40] {hawkfan4} not yet, scalped it a bunch, feels stronger today

[10:40] {hawkfan4} but i was way off on it yesterday

[10:40] {magoo} let me knpow

[10:40] {hawkfan4} will do

[10:42] {KSystems} hl l FULT .41 stop .28

[10:44] {dino} mcd sm l .45

[10:44] {hawkfan4} 83 should get it moving mags, like it if market moves

[10:45] {hawkfan4} in .88

[10:47] {magoo} ty

[10:49] {ese} """YOU"""" are not permitted...........to funny that thing

[10:49] {Threei}  just move it to Tatus window ese

[10:49] {Threei}  Status

[10:49] {Threei}  AMZN wants to continue higher

[10:49] {Threei}  however strange it it may look

[10:50] {Threei}  FAS

[10:51] {Threei}  this pullback into .50 looks like entry point

[10:52] {nemo} stop under .35

[10:52] {cujo} in .52

[10:54] {hawkfan4} CECO stop to .84, not thrilled with it

[10:55] {Threei}  feel free to take profit FAS

[10:55] {cujo} out thanks vad

[10:56] {magoo} nice one vader

[10:56] {Threei}  AMZN... another shallow pullback and then break of .50...

[10:57] {Threei}  wanna try small shares?

[10:58] {hawkfan4} out GS .30

[11:01] {hawkfan4} too soon

[11:03] {magoo} in amzn

[11:03] {magoo} waiting .84

[11:03] {magoo} take .60

[11:04] {magoo} kickin it

[11:10] {ese} double bottom in the Q's dino.....up we go ?

[11:11] {dino}  y

[11:12] {KSystems} s sm AMP .99 stop .26

[11:13] {hawkfan4} stopped ceco -.08

[11:14] {dino} good stop

[11:14] {hawkfan4} thx dino ;)

[11:16] {KSystems} s hl BMRN .31 stop .51

[11:23] {Threei}  wow DRYS

[11:23] {Threei}  bottomless

[11:24] {hawkfan4} fugly

[11:25] {nemo} you in the bathroom too Hawk?

[11:25] {hawkfan4} lol :)

[11:25] {dino} under weekly lows

[11:25] {Threei} Short Setup: KLAC  .40 break if stays below .55

[11:26] {dino} 7909,1136, 804 line in sand imo

[11:26] {Threei}  (EU) EU'S JUNCKER: ECB HAS THE SCOPE IT NEEDS TO CUT RATES, EUROPEAN INFLATION HAS DROPPED SHARPLY

[11:26] {Threei}  - ECB should worry less about price stability.

[11:26] {Threei}  - Understands the debate over taking rates close to zero.

[11:26] {Threei}  - Suspects that banks are manifesting a "total aversion" to risk.

[11:26] {Threei}  - G7 will discuss financial market regulation

[11:36] {hawkfan4} GS .32 stop .18

[11:38] {hawkfan4} GERN kinda forming a little bottoming triangle over .77 

[11:38] {dino} this pork fake stimulus plan is being figured out by market players. they do not like it

[11:38] {Threei}  "buy american" too dino

[11:39] {Threei}  recipe for Great Depression, take II

[11:40] {magoo} out .75 TY hawk

[11:40] {hawkfan4} :) cool beans

[11:40] {Threei}  good job guys

[11:41] {magoo} nice read..never negativew

[11:41] {hawkfan4} out .73

[11:41] {KSystems} OII out half +.36

[11:41] {magoo} on hawks part

[11:41] {dino} gj

[11:41] {hawkfan4} thx

[11:41] {Threei}  I jusy saw on TV: Zimbabwe in crisis

[11:42] {_buyemsellem} don't worry they have the trillion dollar note now

[11:42] {Threei}  ty... I feel better

[11:42] {Threei}  started actually worrying for a min

[11:42] {Threei}  MORGAN STANLEY CALLS 3 YEAR US, UK, AND EUROPEAN NOTES 'ATTRACTIVE'

[11:42] {hawkfan4} in GERN , stop .66

[11:47] {dptl} .

[11:48] {Threei}  V

[11:48] {Threei}  second day of indecent strength

[11:52] {dptl} .

[11:52] {dptl} test

[11:52] {Threei}  pro-labor executive orders are coming, per CNN

[11:54] {hawkfan4} watching GS pullback around .55-.60 mags

[11:54] {magoo} k

[11:54] {hawkfan4} in .63, stop under .50

[11:54] {magoo} would like pullbk 

[11:54] {Threei}  KLAC almost 1:1

[11:55] {Threei}  KLAC 1:1 without almost

[11:56] {Threei}  US TREASURY 'S GEITHNER AGREED WITH UK'S DARLING THAT INTERNATIONAL ACTION WA REQUIRED FOR GROWTH; WILL REPORTEDLY MEET TODAY WITH FDIC'S BAIR AND THE FED'S BERNANKE OVER REFORM IN FINANCIAL INDUSTRY

[11:56] {Threei}  - Geither to attend G7 meetings in Italy on Feb 13 and 14

[11:57] {Threei}  UK'S DARLING - sounds so funny

[11:59] {Threei}  anyone holding part of KLAC?

[11:59] {Threei}  or took scalps?

[11:59] {dptl} me

[11:59] {Threei}  ok... stop is trailed of course

[12:00] {dptl} yep

[12:00] {Threei}  and it does look like more weakness is coming

[12:00] {Threei}  wouldn't even try to bounce woth market last time

[12:01] {Threei}  interesting stock just popped up on a scanner

[12:01] {Threei}  unusual for me, too

[12:01] {Threei}  ATHX

[12:03] {dawg} KLAC breaking down again still in

[12:03] {Threei}  here goes KLAC

[12:03] {dawg} alright!

[12:04] {KSystems} AMP out half +.28

[12:04] {Threei}  1:2 is within spit distance

[12:04] {dawg} yessir

[12:04] {dptl} bidding 20

[12:04] {hawkfan4} good call mags, stopped -.13

[12:04] {Threei}  KS puts out irritatingly strong performance for the second day in a row

[12:05] {dino} ks is in the zone (don't mess w/it

[12:05] {KSystems} OII out rest at be

[12:05] {Threei}  I never mess with the guy who has on/off server switch within arm length

[12:06] {Threei}  SENATE REPUBLICANS REPORTEDLY EXPLORING ALTERNATIVE STIMULUS PLAN THAT COULD INCLUDE A PAYROLL TAX CUT

[12:06] {Threei}  - Note: The House vote 2 days ago on the stimulus package passed, yet with no votes by Republicans

[12:07] {Threei}  btw, KLAC stop should be trailed further here

[12:08] {Threei}  to above .30

[12:10] {dawg} OK

[12:11] {Threei}  something just propped the market

[12:11] {Threei}  don't see any news

[12:11] {KSystems} FULT stopped -.13

[12:11] {dawg} luck got out at .13 thank you sir

[12:11] {Threei}  even DRYS is erecovering

[12:11] {Threei}  good job dawg

[12:11] {dawg} ).

[12:15] {Threei}  s far so good

[12:16] {Threei}  not a stellar day by any means but more or less decent, even though not very active

[12:16] {Threei}  I just don't want to push too much, this week was fairlty cold one

[12:17] {Threei}  so, plan at this point is to trade at reasonably low level of activity until performance picks up again,

[12:17] {Threei}  then increase activity

[12:17] {Threei}  sounds good?

[12:17] {hawkfan4} yessir

[12:18] {Threei}  too bad DRYS and FAS got away

[12:18] {Threei}  but that was kind of suckers game at guessing the bottom

[12:18] {dino} lstr

[12:20] {Threei}  good afternoon vinthhombre, welcome

Session Close: Fri Jan 30 12:21:23 2009

Session Start: Fri Jan 30 12:21:23 2009

Session Ident: #discussions

02[12:21] * Disconnected

02[12:23] * Attempting to rejoin channel #discussions

03[12:23] * Rejoined channel #discussions

[12:25] {KSystems} BMRN stopped -.13

[12:27] {Threei}  good afternoon vinthhombre, welcome

[12:28] {_vinthombre} Good afternnon, thanks

[12:28] {Threei}  about that ATHX

[12:29] {Threei}  I don't have clear recipe how to play this kind of stock

[12:29] {Threei}  it's too weird for me

[12:29] {nemo} I'll leave that alone

[12:29] {Threei}  at your discretion guys, who sees play - fine

[12:29] {Threei}  from the way it trades, it's probably not a day trade

[12:43] {Threei}  58 is closest chart support for AMZN

[12:43] {Threei}  it's likely to break it iof tested though, I wouldn't jump in it for bounce just yet

[12:43] {Threei}  rather let it break and look for bounce from under 58

[12:49] {dino} real$ is cracking me up. all the writers wanted obama and dems in the election. now, since they see what garbage they are pushing in the 800 b bill, they are all complaining about same old same old. so much for "change"

[12:49] {nemo} Anyway to play break of resistance on FAS?

[12:50] {Threei}  nemo, it's a valid play but I would prefger to play it conservatively

[12:50] {Threei}  wait for pullback

[12:50] {Threei}  if none comes, you miss the play, big deal

[12:50] {Threei}  but nothing went up without a few shakeouts this week

[12:50] {nemo} Mrs. Lincoln again...bet she wishes they missed the play :)

[12:50] {Threei}  lol

[12:52] {Threei}  9.75 - 9.80 zone is closest support

[12:52] {Threei}  if you tried 9.90 break, you would be in doubt at this point

[12:53] {Threei}  entry closer to .80 gives you beter stop and more comfort

[12:53] {nemo} mighta' just got euphoria spike

[12:55] {Threei}  (RU) RUSSIAN CENTRAL BANK RAISES RATES ON REPO LOANS BY 1%, IN AN EFFORT TO CONTROL INFLATION AND STABILIZE THE EXCHANGE RATE

[12:55] {KSystems} s EAT .91 stop .01

[12:55] {nemo} amazon right now looks like my eeg

[12:56] {nemo} flat

[12:57] {dino} aapl sm l .90

[12:57] {Threei}  your GERN is working nicely hawk

[12:57] {hawkfan4} very

[12:58] {Threei}  there you go nemo... .81 - 82 entry works like charm

[12:58] {dino} they have an inflation problem w/oil's drop?

[12:58] {Threei}  you are already over 1:1

[12:59] {Threei}  compare it with .90 entry... enduring 10 cents pullback and being uo now just 3-5 cents

[12:59] {nemo} yeah...too much gray hair already

[13:00] {Threei}  this kind of entries is the way to go in this market

[13:00] {Threei}  way safer, easier on nerves and more profitable

[13:00] {Threei}  out +.16

[13:00] {Threei}  anyone went for it?

[13:00] {nemo} yeah, trends are 5 minutes...about my attention span

[13:00] {magoo} break up trigg AMZN vad?

[13:00] {Threei}  yup, mine is one of a moth too

[13:01] {hawkfan4} yeah, i much prefer early entries.  can always add if it starts working

[13:01] {nemo} that's insulting the moth

[13:01] {Threei}  can't tell mags

[13:01] {dino} trends? are there any that last more than minutes?

[13:01] {KSystems} AMP rest out b/e

[13:01] {Threei}  dino, their inflation is of different nature

[13:02] {Threei}  rouble drops like crazy vs USD

[13:02] {nemo} just like old times

[13:02] {dino} ahhhh, makes sense or cents

[13:03] {Threei}  deflation of commodities leads to currency inflation in commodity-based country

[13:03] {Threei}  (in a perverse way)

[13:04] {nemo} value of GDP based on commodities, therefore currency follows suit

[13:05] {KSystems} EAT stopped -.11

[13:06] {Threei}  US SENATORS HAVE PROPOSED BILL TO LIMIT EXECUTIVE PAY FOR COMPANIES WHO RECEIVED GOVT BAILOUT FUNDS

[13:06] {Threei}  how come that wasn't a string attached to orginal TARP?

[13:06] {nemo} Paulson?

[13:07] {Threei}  ok... what the heck happened?

[13:07] {Threei}  no news to warrant this

[13:08] {nemo} progras programmed to trade to pivot points on neutral days?

[13:09] {elepet} Remember PAL? I just bought some because it's cheap and I had to buy something. market is too insane.

[13:10] {elepet} and it went up after i bought it.

[13:10] {Threei}  questionable reason for entry, elepet...

[13:10] {elepet} I know. but not much to lose. LOL

[13:10] {nemo} He's having flashbacks to the tech bubble...or maybe a previous life during the tulip craze.

[13:11] {KSystems} s hl AYE .79 stop .01

[13:11] {Threei}  watch FAS pullback

[13:11] {Threei}  long entry from under 10

[13:11] {dino} aapl stop to .45

[13:12] {dino} mcd stop to .85 - all dayer

[13:14] {nemo} fas didn't come to me...like my old dog...bitch

[13:14] {dino} aapl to .55

[13:15] {dino} out aapl .55, +.65

[13:15] {Threei}  wtg

[13:15] {cujo} nice dino

[13:15] {hawkfan4} nice 

[13:16] {dino} ty, sitting around all day...tough to do

[13:16] {Threei}  calling stocks names helps nemo

[13:16] {nemo} I didn't know that?

[13:16] {KSystems} s hl SYKE .08 stop .31

[13:17] {dino} mcd stopped .85, +.40

[13:17] {Threei}  FAS arrived

[13:17] {cujo} in

[13:17] {Threei}  stop under .85.85

[13:18] {Threei}  seeing double

[13:18] {nemo} huh?

[13:18] {magoo} in

[13:20] {Threei}  there you go... patient waiting for the market to come to you works once again

[13:21] {KSystems} s MRX .13 stp .21

[13:22] {Threei}  since it hit over 1:1 for .92 entry, I'd trail stop to under .90

[13:22] {magoo} hawk GS read?

[13:22] {Threei}  {hawk} G and S

[13:22] {hawkfan4} kinda psycho right now, not sure

[13:23] {magoo} i hit long ,68\

[13:23] {Threei}  no need to call me names hawk

[13:23] {hawkfan4} lol :) we're all a little crazy

[13:23] {nemo} Can you imagine if we were all in a room together...not pretty

[13:23] {Threei}  well, I actually took offense at "right now"

[13:24] {Threei}  as if there are times when I am not

[13:24] {nemo} you're bi-polar

[13:25] {Threei}  don't take FAS here this time

[13:25] {Threei}  goes lower most likely

[13:27] {magoo} stopped

[13:27] {KSystems} AYE out half +.21

[13:28] {nemo} FAS!!!

[13:28] {Threei}  told ya

[13:28] {Threei}  no touchie

[13:28] {nemo} no feelie

[13:28] {Threei}  :)

[13:29] {Threei}  tell me this market is not bipolar

[13:29] {hawkfan4} really is

[13:29] {nemo} O.K.  the market isn't bipolar

[13:29] {Threei}  spike out of nowhere, then sharp drop out of that same place

[13:30] {dino} scalpers market only

[13:31] {Threei}  totally

[13:31] {Threei}  look at GS

[13:31] {KSystems} MRX out half +.08

[13:31] {nemo} bounce at 81.6

[13:31] {hawkfan4} oh yeah, mags, down :)

[13:31] {Threei}  CNBC'S GASPARINO: ACCORDING TO SOURCES, GOVERNMENT 'BAD BANK' IDEA MAY HAVE HIT A SNAG; THE IDEA IS "ON HOLD"

[13:32] {Threei}  now we know for sure, market wants bad bank

[13:32] {hawkfan4} guess he kept his job after dropping the f-bomb yesterday

[13:32] {nemo} Did he say F***** Bad Bank today

[13:32] {nemo} hawk

[13:32] {Threei}  that's third confirmation, can't be coincidence

[13:33] {hawkfan4} dunno nemo

[13:34] {Threei}  the second they say bad bank goes ahead, I just hope we have a fraction of second to buy all FAS we can afford

[13:35] {nemo} Thank god for margin...but they'll do it over the weekend

[13:35] {Threei}  then we will be left in the dust

[13:36] {Threei}  but if we get so lucky, make sure you took out second, third and fourth mortgae, sold family posessions, wife and kids, and bought all FAS you could

[13:36] {nemo} Bad bank will have all the banks in accumulation mode.  Willain's stuff...

[13:37] {KSystems} SYKE half out +.23

[13:37] {nemo} Reminds me of joke.  "My wife said, "You either stop hunting, or I'm leaving."..................."I'm gonna' miss my wife."

[13:38] {nemo} That croaked the small cap triple also

[13:38] {Threei}  mine jujst read these lines, musingly asked where the buy button is, where to type FAS, and went to phone someone asking whether she could sell me to them

[13:38] {nemo} hehehehe

[13:39] {Threei}  drop is not done yet

[13:39] {dino} i guess i am an idiot, but fdic insures banks, they should be pre=packing bankruptcies and letting the strong pick up the leftovers. i know alot of our local bank officers...they are going gangbusters picking up loans they never had shpts at before. let the system work

[13:40] {Threei}  you are coming from assumption that capitalism should have a chance dino... it's not assumption they operate on

[13:40] {dino} also, ford hasn't taken govt. $$$ but chrysler and gm have. its unfair, let them pre-package bankruptcy, ford picks up the slack. c'mon!

[13:40] {Threei}  whoa GS

[13:41] {dino} but you know what vad, capitalism has worked here for 220 years, one or two bad years should not alter the entire model

[13:41] {Threei}  moreso, it was not capitalism that failed

[13:41] {Threei}  it was injection of socialistic ideas in it

[13:42] {Threei}  but, who are you going to tell that? to socialists?

[13:42] {KSystems} AYE out 1/4 +.42

[13:42] {dino} yes! 

[13:42] {Threei}  KS, this is really irritating

[13:42] {KSystems} wooo-hoooo

[13:42] {dino} and ks, gfj again

[13:42] {Threei}  stop that

[13:42] {KSystems} thanks dino

[13:42] {Threei}  btw guys notice:

[13:42] {Threei}  financiaals drop like there is no tomorrow

[13:42] {Threei}  look at KLAC for instance

[13:43] {Threei}  RIMM

[13:43] {Threei}  nowehere that bad

[13:43] {dino} this is your market ks

[13:43] {Threei}  and some are actually holding nicely

[13:43] {Threei}  this is our clue to the future rally,

[13:43] {dino} but vad look at aapl and many others

[13:43] {Threei}  most likely led by other sectors, not finjancials

[13:44] {Threei}  AAPL barely came to prvious low

[13:44] {Threei}  look at GS

[13:44] {Threei}  buck and half below previous low before first bounce attempt

[13:45] {dino} still dropped hard imo

[13:45] {Threei}  ok, let' watch FAS for pullback and double bottom

[13:45] {Threei}  sure... I am talking about relative strength

[13:48] {Threei}  pullback under .20 was too fast and shallow to get in

[13:49] {Threei}  I was waiting for something close to .10

[13:55] {Threei}  jeez

[13:55] {Threei}  I started typing FAS at .21

[13:56] {Threei}  and it was above .30 before I could finish

[13:56] {Threei}  what the

[13:56] {Threei}  who said what where this time?

[13:57] {cujo} fas makin moves

[13:57] {hawkfan4} nutty

[13:57] {Threei}  moves?

[13:57] {Threei}  leaps of crazy anthelope

[13:57] {KSystems} drunken kangaroo?

[13:58] {Threei}  who got turpentine injection in the butt

[14:02] {Threei}  WHITE HOUSE SPOKESPERSON: PRESIDENT OBAMA WILL DO WHAT IS NECESSARY TO PASS A STIMULUS PACKAGE

[14:02] {Threei}  dissolve senate

[14:02] {Threei}  issue decree

[14:02] {Threei}  done

[14:03] {magoo} form new socialist party

[14:03] {Threei}  we are so close to USSR model, why not just go ahead and make it official

[14:10] {cosmo} how's 'silicone curtain'?

[14:11] {KSystems} s sm PKX .10 stop .51

[14:14] {KSystems} i have never even heard about those companies...

[14:18] {Threei}  KS... saw those prints that took .10 out?

[14:18] {KSystems} no

[14:18] {Threei}  a minute ago?

[14:19] {KSystems} nah, didnt watch it

[14:19] {Threei}  anyway... you are welcome

[14:19] {KSystems} i put my strategy in, not touching it anymore

[14:19] {KSystems} lol

[14:19] {KSystems} need some market help to the downside

[14:20] {Threei}  market is not much about help this week, any direction

[14:21] {cosmo} its coiling?

06[14:23] * Threei pokes PKX with sharp stick

[14:26] {Threei}  hmmm... I am afraid that was wrong side

[14:26] {Threei}  sorry ks

[14:27] {KSystems} AYE out rest +.27

[14:27] {KSystems} MRX out rest -0.01

[14:28] {KSystems} PKX stopped -.55

[14:28] {Threei}  another crazy jump FAS

[14:31] {KSystems} l hl EQY .87 stop .64

[14:40] {KSystems} s sm SAFM .74 stop .01

[14:46] {Threei}  WHITE HOUSE PRESS SECRETARY: REVIEWING 'BUY AMERICAN' PART OF STIMULUS BILL; RECONSIDERING A FOREIGN STEEL BAN IN THE BILL - SUMMARY OF COMMENTS

[14:46] {Threei}  Canada is up in arms about that

[14:48] {dino} protectionism is not the answer

[14:50] {Threei}  it is - if you look for way to trurn recession into depression

[14:52] {nemo} feels like market is just going to fizzle to the close...then again...wouln't be the first time I was wrong today.

[14:52] {Threei}  really?

[14:52] {Threei}  hmmm

[14:52] {Threei}  I for one am never wrong

[14:52] {Threei}  I am early

[14:53] {Threei}  or fashinably late

[14:53] {nemo} look at volume...

[14:54] {KSystems} EQY stopped -.25

[14:56] {dino} so, let me see, the plan is to 1) keep insolvent companies alive 2) keep their current (mis)management 3) add protectionism 4) give unions more power 5) increase welfare payments 6) tax the income earners even more

[14:57] {dino} sounds more like a kingdom than a country

[14:57] {Threei}  7) limit trade with other countries

[14:57] {dino} "change is coming" just forgot to mention towards socialism

[14:58] {magoo} I THOUGHT THIS WAS A TRADING ROOM

[14:58] {Threei}  then again... e new it from the campaign, didn't we

[14:58] {Threei}  magoo, don't yell

[14:58] {dino} my apologies magoo, just not seeing any trades

[14:58] {Threei}  you almost rendered me deaf

[14:59] {magoo} you guys do this EVERY OTHER DAY

[14:59] {Threei}  'cause we enjoy our jaundicity

[15:00] {dino} saves me $

[15:00] {Threei}  if you see any worthy trade, feel free to share

[15:00] {dino} feels like yesterday so far, big down may be coming

[15:03] {dino} aapl sm l .90

[15:04] {dino} stop is .57

[15:05] {Threei}  FAS is about to dive under .20

[15:06] {Threei}  looking for entry

[15:06] {Threei}  ideally around .10

[15:08] {Threei}  didn't give a chance

[15:12] {KSystems} SAFM stopped -.51

[15:19] {nemo} geez

[15:20] {dino} stopped aapl -.33

[15:20] {nemo} feel like any plays now might be  sucker's bet

[15:20] {Threei}  (CA) CANADIAN FIN MIN: CANADA DOES NOT NEED A "BAD BANK" TO ABSORB ASSETS

[15:21] {dino} -5% since wed. all 3 averages

[15:21] {_vinthombre} FAS entry?

[15:22] {Threei}  one more leg down

[15:22] {Threei}  closer to 9

[15:22] {magoo} AMZN long  vad?

[15:23] {Threei}  crossback over 58 mags

[15:23] {magoo} if mkt bounces

[15:23] {Threei}  if holding above .85

[15:24] {magoo} unreal; strenght it has

[15:24] {dino} i should've stayed w/my gut feel

[15:24] {dino} [15:00] {dino} feels like yesterday so far, big down may be coming

[15:25] {Threei}  FAS almost ready

[15:25] {Threei}  in .96

[15:25] {Threei}  astop under .90

[15:26] {Threei}  half out .07

[15:26] {nemo} had orer at .91 damn

[15:26] {cujo} thanks Vad.  

[15:26] {Threei}  :)

[15:27] {Threei}  stop .99

[15:27] {Threei}  should have take .14

[15:28] {Threei}  out

[15:28] {Threei}  oversat a little

[15:29] {Threei}  closer to .80 this time

[15:32] {Threei}  in

[15:33] {Threei}  stop under .75

[15:33] {Threei}  keeping it very tight

[15:36] {Threei}  stop to under .80

[15:36] {Threei}  hard to tell, wanted over .90

[15:36] {Threei}  maybe should have just grabbed 10 cents scalp

[15:37] {Threei}  out flat

[15:37] {jmb} thanks vad - took 10 cent scalp

[15:37] {Threei}  like hot potatoe

[15:37] {cujo} same here

[15:37] {Threei}  jmb :)

[15:37] {cujo} thanks Vad

[15:39] {Threei}  okay, that was idiotic trade on my part

[15:39] {nemo} you were just early

[15:39] {Threei}  yes, forgot

[15:40] {Threei}  okay... feeling better

[15:41] {Threei}  took .88 - 9.01

[15:41] {Threei}  total feel of hot potato in hands

[15:41] {magoo} me to vad 9.02

[15:41] {Threei}  :)

[15:41] {Threei}  see? and you screamed at me as if I stole your beach towel

[15:41] {magoo} u think AMZN closes strong?

[15:42] {Threei}  when something comes around we wake up

[15:42] {Threei}  I don't know about AMZN... thing is hirribly overtraded today

[15:42] {Threei}  no way tyo tell who wants out more

[15:42] {Threei}  let's better do one last FAS

[15:43] {magoo} k

[15:43] {Threei}  .90 was it but we talked too much

[15:43] {Threei}  lol

[15:43] {magoo} :)

[15:45] {Threei}  ok... pullback to 9 or just under

[15:46] {KSystems} l hl BVN .91 stop .69

[15:46] {Threei}  in .92

[15:46] {magoo} 95

[15:46] {cujo} missed.  Darn.

[15:46] {Threei}  out

[15:46] {Threei}  9.07

[15:46] {magoo} out 08

[15:46] {cujo} nice

[15:47] {Threei}  I need a creme for those burns

[15:47] {Threei}  wow

[15:47] {Threei}  thing had even more in it

[15:47] {Threei}  didn't expect it at the end of the day

[15:47] {Threei}  but hey

[15:47] {Threei}  end of the day turned fun

[15:48] {cujo} was a goo dlittle run of scalps. 

[15:48] {Threei}  dino... when you walk by magoo, put an elbow in his ribcage on my and your own behalf... so he knows better next time than yell at us while we exercise our grumbliness

[15:49] {Threei}  too bad we have to limit ourselves to these tiny scalps

[15:49] {Threei}  but there is time for everything

[15:49] {magoo} tough week

[15:49] {Threei}  when market stops being this paranoid, our real plays will be back

[15:50] {Threei}  oh yeah, I am happy ti finish this week on such note

[15:51] {Threei}  3-4 quick scalps for 10-12 cents each

[15:51] {Threei}  that's your 400 bucks to finish the week right there

[15:52] {cujo} or 40 if your the FNG... (f'ing new guy) :)

[15:52] {Threei}  again... there is a time for everything

[15:52] {Threei}  training wheels...

[15:52] {Threei}  then you take them off

[15:53] {Threei}  and start getting real bruises :)

[15:53] {cujo} ha ha ha..  can't wait. 

[15:53] {Threei}  you have MPP

[15:53] {Threei}  go over last part

[15:53] {Threei}  Practical Trading

[15:53] {Threei}  procedure for increase shares

[15:53] {cujo} yup. 

[15:53] {Threei}  criteria when and how to do it

[15:53] {cujo} have right in front of me.  

[15:53] {Threei}  just follow it... you'll be fine

[15:54] {cujo} sounds like a plan. 

[15:54] {Threei}  how do you like videos btw?

[15:54] {cujo} the scalping one is good

[15:54] {cujo} only through disc 1 right now. 

[15:54] {Threei}  one?

[15:54] {cujo} disc 2 tonight

[15:54] {Threei}  there are desons of them :)

[15:54] {Threei}  dosens too

[15:55] {Threei}  okay... then you haven't gotten to real meat yet

[15:55] {cujo} not yet

[15:55] {cujo} soon.  what disc real meat at?

[15:55] {Threei}  like I remember

[15:55] {Threei}  2 and 3 :)

[15:55] {cujo} :)

[15:55] {cujo} funny, remember that room member i was asking you about a long time ago "burn"?

[15:56] {Threei}  yes

[15:56] {cujo} he is on the screen shot in the video 

[15:56] {cujo} when yo go over the chat room

[15:56] {Threei}  :)

[15:56] {Threei}  4th disk is actual seminar recording

[15:57] {Threei}  don't look at my image if you have troubles sleeping

[15:57] {cujo} that could be interesting.  Live Workshop?

[15:57] {cujo} ha ha ha

[15:57] {Threei}  yes

[15:57] {cujo} many more demons keeping me awake at night...

[15:57] {Threei}  main screen is slides that I had on the screen,

[15:58] {Threei}  and me in the corner

[15:58] {Threei}  talking, gesturing

[15:58] {Threei}  and generally spoiling the mood

[15:58] {cujo} he he

[15:58] {Threei}  okay guys

[15:58] {magoo} ty vad

[15:58] {Threei}  let's call it a day

[15:58] {nemo} gnite

[15:58] {cujo} have a good wknd all.  

[15:58] {dptl} have a good weekend all

[15:59] {hawkfan4} enjoy all

[15:59] {dawg} thanks vad and all

[15:59] {Threei}  glad to finish this week, honestly... first one in many months I had so much troubles with

[15:59] {Threei}  thank you all, have a good weekend

[15:59] {_vinthombre} thanks all

[15:59] {Threei}  take care wnthombre, see you on mondau

[15:59] {_vinthombre} sure,thx

[16:00] {fernp} tough week here. Have a relaxing weekend all

[16:00] {_vinthombre} i enjoyed being in chat rm today