Today took real patience. Opening was unreadable to me, then no real trades were coming along, until finally RIMM formed real setup for a nice pop, nicely beyond scalping profits. Single trade made a day, the rest was not worth mention.
Session Time: Wed Feb 11 00:00:00 2009
[07:53] {magoo} morning
[07:56] {Threei} Good morning
[07:56] {nemo} mornin'
[07:57] {Threei} magoo, nemo :)
[07:57] {nemo} What's new?
[07:57] {Threei} well... how about this to start the day:
[07:58] {Threei} (EU) EU'S BARROSO: 'ECONOMY CAPITALISM' POSES A THREAT TO THE GLOBAL ECONOMY
[07:58] {nemo} Yeah, expect to hear alot of that
[07:58] {nemo} History repeating itself
[07:59] {Threei} and economy socialism works flawlesssly I assume
[07:59] {Threei} USSR is the most powerful state, and Cuba prospers
[08:00] {nemo} It's all relative. You didn't know how bad you had it...well until you found out how well the Politburo and apparatchiks lived
[08:00] {Threei} NY AG CUOMO REPORTEDLY LAUNCHING INVESTIGATION INTO 2 BANKS ON WHETHER THE TIMING OF BONUSES 'FORCED' THE TAXPAPERS TO PROVIDE SUCH FUNDING
[08:00] {Threei} {XLF}
[08:00] {nemo} what about xlf
[08:01] {ese} looks like a couple of ya hanging around
[08:01] {Threei} attached at the end of the headline to indicate the headline's relation
[08:01] {Threei} ese :)
[08:01] {nemo} how ya' feelin' ese
[08:01] {nemo} maybe it's a message from God to trade XLF today?
[08:02] {Threei} everyone knew how those guys lived
[08:02] {ese} not good today......pain in left leg came back last night.....hard to sleep
[08:02] {Threei} what we didn't know for a while or at least not to full extend was how West lived
[08:02] {ese} feel ok now though......now that i'm not lying down
[08:02] {Threei} sorry to hear ese...
[08:02] {nemo} It's a process ese
[08:03] {ese} soldier on and all that.....cheree ho hip hip what ....and all that
[08:03] {Threei} wehile to iron curtain was in pl;ace, information from the West was trickling through very sparingly
[08:04] {nemo} Yeah, I was in Germany the end of 88, and met a family who had just come from East Germany that week. I took them around, they couldn't believe all the shops and all the goods. It literally was like kids in a candy store
[08:04] {Threei} yup
[08:05] {Threei} those rare individuals who got to visit, were under strict obligation to share very little and to filter it to the ideological purposes
[08:06] {Threei} no TV programs from the West, no papers, magazines
[08:07] {Threei} some radio broadcasts that were scrambled by soviet authorities to the best of their abilities
[08:08] {Threei} RIMM is hit
[08:13] {magoo} bounce play vad?
[08:13] {Threei} as a concept yes... I don'ty see how their announcement warrants such drop
[08:14] {Threei} what they said was, hliday sales exceeded the norm so they expewct to return to the norm
[08:14] {Threei} only with better spelling
[08:15] {Threei} guidance around midrange to lower end of the range
[08:15] {Threei} is it really 6 dolars dump worthy?
[08:15] {hawkfan4} what stock?
[08:15] {Threei} RIMM
[08:16] {hawkfan4} ah, thx
[08:16] {hawkfan4} oh yeah, good morning
[08:16] {Threei} lol... hi
[08:21] {Threei} .50 break mags, with stop under .30
[08:21] {Threei} small shares of course
[08:21] {magoo} in .49
[08:22] {Threei} not ready yet
[08:23] {magoo} yep
[08:23] {magoo} out
[08:23] {Threei} BALTIC DRY BULK INDEX +4.1%, 17TH STRAIGHT INCREASE
[08:29] {Threei} wow
06[08:29] * Threei is bidding $1 for RIMM
[08:30] {Threei} at this rate I may get my fill before market open
[08:30] {Threei} DEC TRADE BALANCE -$39.9B V -$35.7BE
[08:30] {Threei} - Prior revised from -$40.4B to -$41.6B
[08:31] {magoo} 49.50 area vad?
[08:31] {Threei} no idea
[08:31] {Threei} how do you tell 49.50 from 50.50 in this thin premarket trading?
[08:34] {magoo} i cant...
[08:34] {magoo} was hoping u could
[08:35] {Threei} if you want me to repeat for zillionth time that no technicals work during premarket... there, I said it
[08:36] {ese} missed the news on rimm....what is it
[08:36] {nemo} Oija board works great
[08:37] {Threei} 07:03am [RIMM] Reaffirms Q4 EPS $0.83-0.91 v $0.85e, R "at or near midpoint" of $3.3-3.5B v $3.4Be; Guides Q4 net adds 20% higher than the 2.9M prior forecast
[08:37] {ese} Ok so the news is OK and it goes down.....hmmmmm yup thats normal
[08:40] {Threei} REP. FRANK: I DO NOT THINK YOU WANT TO MOVE AWAY FROM MARK-TO-MARKET ACCOUNTING - CNBC
[08:41] {magoo} great
[08:41] {Threei} there is no limit to the damage this guy can cause
[08:42] {Threei} "fannie and freddie will do what I tell them to" Frank
[08:42] {Threei} - You do not want politicians legislating accounting rules.
[08:42] {Threei} - Looking for "flexibility" in the consequences of fair value accounting.
[08:43] {Threei} flexibility in accounting - this sounds beyond scary
[08:43] {Threei} DRYS ate through huge offer at .50
[08:44] {nemo} when you describe a stock that way, I envision a little pacman
[08:45] {nemo} drys
[08:45] {nemo} sorry
[08:46] {ese} ouch laris....thats gotta hurt
[08:52] {larisa} good morning :)
[08:52] {ese} morning
[08:53] {Threei} larisa :)
[08:53] {fernp} morning all
[08:53] {ese} board didn't like you this morning
[08:53] {Threei} fern :)
[08:53] {larisa} ese, threei :)
[08:53] {ese} fern
[08:53] {larisa} was my fault ese :)
[08:53] {dino} gm all
[08:53] {Threei} dino :)
[08:54] {Onix} Good morning all
[08:54] {Threei} onix :)
[08:54] {ese} onix
[08:55] {elepet} good morning
[08:55] {Threei} elepet :)
[09:06] {Threei} someone with deep pocket just woke up, turned computer on, fired up quotes, saw RIMM and grabbed all her could
[09:07] {magoo} how u know it was a woman?
[09:08] {cosmo} its a tradition
[09:08] {larisa} lol
[09:08] {cosmo} :)
[09:08] {Threei} I don't... I just type he and hit r which is next to e on the keyboard
[09:08] {Threei} or what cosmo said
[09:08] {cosmo} same thing
[09:09] {magoo} but u never hit "R" he he
[09:09] {patience} good morning RT :)
[09:09] {Threei} patience :)
[09:12] {KSystems} good morning!
[09:12] {Threei} ks :)
[09:13] {_livia} good morning everybody
[09:13] {cujo} morning
[09:13] {Threei} livia :)
[09:13] {Threei} cujo :)
[09:13] {cujo} morning
[09:13] {Threei} biggest question of today:
[09:14] {Threei} was yesterday's selloff just a bervous reaction on a lack of details in Tim's plan
[09:14] {Threei} or the market is seriously out of gas
[09:14] {Threei} I tend to think former
[09:14] {Threei} but let's watch it for the confirmation
[09:14] {Threei} also, we have those bad bankers testifying today about how they wasted TARP I
[09:15] {Threei} who knows what we hear from them
[09:15] {cosmo} banksters
[09:17] {cosmo} INSU healing fwiw
[09:19] {cosmo} ... strong pre.mkt. technicals ....hehe
[09:19] {dptl} good morning all
[09:19] {pita} good morning troops
[09:21] {Threei} dp, pita :)
[09:23] {Threei} have smaller shares order prepared on RIMM in case something readable apears
[09:23] {magoo} me too
[09:24] {Threei} so far 49.50 area has shaped up as support but opening panic could take it lower
[09:25] {Threei} if there are a lot of MOOs pout there, they'll be taken advantage of
[09:25] {Threei} pout = out
[09:26] {nemo} MOOs=herd cows
[09:26] {Threei} pretty much
[09:26] {Threei} market on open is technical definition :)
[09:26] {nemo} you'll see that reference in the book often
[09:26] {nemo} oh
[09:27] {vint} Good Morning all
[09:27] {Threei} vint :)
[09:27] {Threei} working assumption is so far: dive at the open on FAS and HIG, then quick rebound
[09:28] {Threei} let's see if it materializes and if we can read the bottom
[09:28] {Threei} don't route ARCA, laser traders
[09:28] {Threei} use INET
[09:29] {nemo} is that Island
[09:29] {Threei} yeah
[09:29] {Threei} be patient, market is nervous
[09:29] {Threei} better wait for our trades to come to us naturally than push
[09:30] {nemo} yeah, leading with my head has always hurt alot.
[09:30] {Threei} HIG is selling
[09:31] {Threei} wait for quick dive
[09:32] {Threei} aslternatively, .50 break half lot, much riskier
[09:32] {_bobv} good morning
[09:32] {Threei} bobov :)
[09:33] {Threei} FAS sharp selling
[09:33] {Threei} HIG too
[09:37] {nemo} Oh jeez...FAS
[09:37] {Threei} HIG break setup is back
[09:38] {dino} sm l fdo .40
[09:39] {Threei} FAS, quick drop under .50 for entry
[09:42] {dino} construction co. up
[09:48] {dino} rimm sm wide l .75
[09:48] {Threei} if you took FAS on the dive to .50, half out here
[09:48] {Threei} or just take scalp
[09:49] {dino} feels like +200 day
[09:50] {nemo} What's Larisa's opinion?
[09:50] {Threei} feel free to take profit on HIG here if you took the break
[09:51] {Threei} RIMM... feels like should lose 49.50
[09:51] {dino} sm dltr .65 l
[09:51] {Threei} (FR) REPORTEDLY FRENCH GOV SEEKING TO REGULATE SALARIES OF TRADERS AND FINANCIAL OPERATORS
[09:51] {Threei} I am not moving to France
[09:52] {Threei} (CH) CHINESE REGULATOR: US TREASURIES REMAIN A SAVE HAVEN INVESTMENT
[09:52] {dino} obama on phone,"get me the ppt now!"
[09:52] {patience} but they're not buying anymore
[09:53] {Threei} RIMM... one more quick leg down, and will be worth trying
[09:53] {dino} they are running out of money, hopefully they weren't buying yesterday, that would tell the tale
[09:54] {Threei} for fast and furious only... and andrenalin-deprived
[09:54] {nemo} I'll mainline some valium
[09:54] {Threei} closer to 49
[09:54] {Threei} under most likely
[09:55] {Threei} REPORTEDLY HOUSE AND SENATE MEMBERS TO MEET AT 3PM ET TO WORK ON STIMULUS PACKAGE
[09:56] {Threei} BAC, watch for drop to 5.90 for long entry
[09:57] {Threei} TARP BAILOUT WATCHDOG: HAS OPENED CRIMINAL INVESTIGATIONS, NOTES THAT LARGE AMOUNT OF FEDERAL BAILOUT FUNDING CREATES "CRIMINAL INCENTIVES"
[09:57] {Threei} RIMM under 49
[09:58] {Threei} accelerates
[09:58] {Threei} if willing to make a few tries, get ready
[09:59] {magoo} .
[10:00] {Threei} .50 crossback
[10:00] {Threei} if holding .30
[10:00] {nemo} too late
[10:00] {Threei} half out
[10:01] {Threei} stop to under .50
[10:01] {magoo} out .90 TY
[10:01] {magoo} got 54
[10:01] {Threei} wtg
[10:01] {cujo} nice
[10:01] {cujo} missed it :(
[10:02] {Threei} {Threei} for fast and furious only... and andrenalin-deprived
[10:02] {Threei} [09:54] {nemo} I'll mainline some valium
[10:02] {nemo} Guess it took effect to fast
[10:02] {cujo} yeah
[10:02] {Threei} lol
[10:03] {larisa} does not look like capitulation still to me
[10:03] {larisa} guess i missed it :)
[10:06] {Threei} BAC is holding well on this market dive
[10:08] {magoo} is barney bringin down the mkt jere?
[10:08] {cosmo} SVNT holds so far
[10:08] {magoo} here
[10:09] {Threei} FAS, closer to .40 should be of interest again
[10:09] {cosmo} svnt... needs to hold .30
[10:12] {Threei} ok... RIMM 48 break
[10:12] {magoo} in
[10:12] {cujo} in .05
[10:13] {Threei} stop under .75 for now
[10:13] {Threei} you remember it's a possible "multiple try" trade, right?
[10:15] {Threei} market more weakness is holding it back
[10:15] {Threei} by itself it's ready for a good bounce
[10:16] {nemo} after a fall like that probably needs to bounce on the bottom once or twice...then again wouldn't be the first time I was wrong today...or is that just "early"
[10:16] {cujo} stopped
[10:16] {larisa} at least it tried to base this time
[10:17] {Threei} it's ready
[10:17] {Threei} just needs market to stop puking
[10:17] {Threei} anyone took FAS under .50?
[10:23] {patience} out hgu (gold etf) +1.47
[10:25] {patience} foo, should have bought some silver wheaton as well, big move for it
[10:26] {larisa} nice patience :)
[10:27] {patience} ty, i keep thinking gold will pullback
[10:28] {dino} dltr stopped
[10:29] {nemo} Vad, still have that RIMM bid for $1
[10:29] {magoo} this RIMM sell off is ridiculous
[10:29] {Threei} volume starts drying up on RIMM
[10:30] {Threei} watch market, RIMM has hard time going against it
[10:30] {Threei} *DOE CRUDE: +4.7M V +2.6ME; GASOLINE: -2.6M V +500KE; DISTILLATES: -1M V -1.7ME;
[10:31] {nemo} what are gasoline futures doing?
[10:32] {patience} deciding
[10:32] {nemo} nice, patience...
[10:33] {patience} ok, puking
[10:33] {dino} 45 strike coming, rimm
[10:33] {dino} crazy
[10:33] {nemo} Geez what did the bankers say
[10:34] {cosmo} 'trick or treat'?
[10:34] {dino} rimm updates & raises guidance last month. analysts raise, now this month they say they will be at low end of raised guidance. so we sell it off 20%,
[10:35] {dino} anything (and everything) can happen
[10:35] {Threei} RIMM HEARING LIGHTLY DEFENDED AT MERRILL/BOA (TIMING UNCERTAIN)
[10:35] {Threei} lightly?
[10:35] {Threei} not dropping with market anymore
[10:50] {Threei} GS
[10:51] {Threei} pullback under 93
[10:51] {Threei} for long entry
[10:53] {Threei} not much readable so far eh?
[10:55] {Threei} are you all asleep?
[10:56] {cujo} tired... but awake
[10:56] {nemo} no...just quiet
[10:56] {cujo} think i'm coming down with something...
06[10:56] * nemo thinks Vad getting lonely
[10:57] {Threei} Long Setup: STT half lot .30
[10:57] {Threei} too fast
[10:57] {nemo} yeah
[10:57] {Threei} don't chase, watch for pullback
[10:58] {Threei} support for a stop is .15
[11:00] {Threei} GS is coming there
[11:02] {cujo} GS out +.20
[11:02] {cujo} thanks
[11:02] {Threei} good reflexes
[11:02] {Threei} OK, STT is back, watch market now
[11:03] {Threei} stop is under .15 still, wether you chose afggressive entry or .30
[11:05] {Threei} ECB'S STARK: PUBLIC FINANCES ARE A 'CONCERN' IN SOME MEMBER STATES, SOME EU FISCAL DEFICITS 'ALARMING'
[11:05] {Threei} what's going on in europe...
[11:05] {Threei} come on europians, share with us
[11:06] {nemo} your-a-peons?
[11:06] {nemo} sorry K
[11:06] {Threei} STT lost support
[11:10] {magoo} time for my daily comment..."this market blows"
[11:11] {nemo} worthy of Charlie Gasparino
[11:11] {Threei} for now
[11:11] {Threei} quite a shock yesterday, still a lot of nervousness out there
[11:11] {Threei} view it as some kind of churning
[11:12] {Threei} just have to digest a lot of things before getting free
[11:12] {Threei} all this bickering in Washington is not helful
[11:13] {cujo} think i'm going to pack it in for the day. Have a good one guys.
[11:14] {ese} blows what?
[11:14] {nemo} oh jeez are we bored?
[11:15] {Threei} take care cujo
[11:15] {_bobv} guys, do you think maybe this is typical climax for a market bottom?
[11:15] {magoo} nope
[11:16] {magoo} im just looking foe a couple weeks BEAR mkt 'ally
[11:16] {Threei} WSJ: WHITE AND CONGRESS ARE NEARING AGREEMENT ON A SMALLER STIMULUS PACKAGE NEAR $790B
[11:17] {Threei} FAS, pullback into 8.70 for long entry
[11:19] {magoo} vader, any read AAPL?
[11:20] {Threei} pullback under .50, I'd get interested... most likely .35-.40 area
[11:21] {Threei} US TREASURY'S GEITHNER: UNDERSTANDS CONCERNS OVER LACK OF DETAIL, DOES NTO WANT TO 'RUSH PROPOSALS'
[11:21] {Threei} no rush?? but don't we face catastrophe if we don't act TODAY?
[11:22] {_bobv} what a disaster
[11:22] {Threei} HIG, pullback to about .50 for long entry
[11:26] {Threei} ok, really pullback time
[11:26] {Threei} for the world of me I can't make myself buy breakouts today
[11:29] {Threei} US HOUSE AGRICULTURE CHAIR: CFTC SHOULD BE ABLE SUSPEND NAKED CDS SWAPS, PROVIDE REGULATORS CRIMINAL PROSECUTORIAL AUTHORITY
[11:29] {magoo} cant imagine why:)
[11:30] {magoo} out STT .75 TY
[11:30] {dino} gj
[11:30] {Threei} what do you know... no pullbacks
[11:31] {nemo} after the slam down yesterday it doesn't want to go further
[11:33] {magoo} volume on the up spike vad....less on pullbk in Q
[11:35] {Threei} FAS under 8.90
[11:39] {Threei} sharper dive is coming it seems
[11:40] {Threei} here it is
[11:40] {Threei} FAS to about .80
[11:40] {Threei} and HIG .60
[11:42] {dino} out fdo .84 +.44
[11:48] {Threei} CONGRESSIONAL AIDE: ECONOMIC STIMULUS BILL TO TRIM TAX CREDIT TO $400/PERSON, 'BUY AMERICAN' UNDER REVIEW AND STILL IN NEGOTIATIONS
[11:48] {Threei} - Sees stimulus bill at approx $790-800B
[11:48] {nemo} A congressional aide? BFD
[11:54] {Threei} SENATE FINANCIAL BAILOUT BILL WOULD RESTRICT EXECUTIVE PAY TO $400K FOR ANY EMPLOYEE, NOT JUST TOP EXECUTIVES - WSJ
[11:56] {dino} it's really a non-issue as options grants are unaffected
[11:59] {Threei} WHITE HOUSE SPOKESMAN: GOOD PROGRESS IS BEING MADE ON NEGOTIATIONS OVER FINAL STIMULUS BILL
[12:00] {Threei} feels like pullback is over and market is ready to resume upward
[12:03] {Threei} WSJ: HOUSE MAY FORMALLY INTRODUCE COMPROMISE BILL TODAY FOR A FINAL VOTE TOMMOROW, SENATE LEADER REID TO PUSH FOR FINAL PASSAGE OVER THE WEEKEND
[12:04] {Threei} GM
[12:04] {Threei} TO REPORTEDLY END CERTAIN HEALTH CARE BENEFITS TO RETIREES NOW ELIGIBLE FOR MEDICARE
[12:04] {dawg} RIMM in .37 out .52 for crissake
[12:05] {Threei} :)
[12:05] {Threei} if my feel is right FAS should go back closer to 9
[12:05] {dawg} ).
[12:05] {dino} gj dawg
[12:05] {dawg} ty dino
[12:06] {Threei} in .83, stop .75
06[12:09] * Threei kicks FAS in the rear
[12:11] {Threei} CHRYSLER REPORTEDLY IN DISCUSSIONS WITH BANKERS ABOUT A DEBT FOR EQUITY SWAP TO BE COMPLETED BEFORE FEB 17 - UNCONFIRMED REPORT
06[12:12] * Threei repeatedly kicks FAS in the rear
[12:12] {larisa} do not hurt your leg
06[12:13] * Threei kicks FAS in the rear with steel toe heavy duty army boots
[12:13] {Threei} oops... I think I got the wrong side
[12:14] {larisa} stopped out HIG, did not take +.10. looks like no chance to get more than that today
[12:14] {Threei} no kidding
[12:14] {Threei} some new soundbite from somewhere
[12:15] {nemo} martians invading
[12:15] {Threei} out FAS
[12:19] {dino} rate
[12:20] {vint} market has no direction today
[12:20] {Threei} nope
[12:20] {Threei} digests yesterday's shock
[12:21] {Threei} and is pretty much lost about what's next
[12:22] {vint} will wait and watch
[12:25] {vint} Vad- could RIMM break up if mkt goes up? based on 5 mt chart
[12:26] {vint} or it will continuew prior trend-down
[12:26] {dino} indeed
[12:26] {dino} up
[12:26] {Threei} I believe so vint
[12:27] {Threei} market help though is fleeting thing today
[12:29] {Threei} MOODY'S: US FINANCIAL STABILITY PROGRAM IS A 'POSITIVE' FOR US BANKS
[12:33] {pita} later all - hope mkt starts trending for you
[12:34] {Threei} take care pita, dismal day
[12:44] {Threei} sharp pullback RIMM
[12:44] {dino} axys blood
[12:48] {dino} risky sm l .45
[12:52] {Threei} REPORTEDLY A MAGNITUDE 7.5 EARTHQUAKE REPORTED OFF THE COAST OF INDONESIA
[12:52] {Threei} - Tsunami alert issued{TAYD }
[12:52] {magoo} this no bounce whartsoever in rimm blkows my mind
[12:55] {Threei} holding well here
[12:56] {Threei} watch for pullback entry
[12:58] {magoo} i mean..like a 4 point bnounce
[12:58] {magoo} to 51 ..52
[12:59] {Threei} not in this market
[13:00] {Threei} FED'S EVANS: US GDP WILL LIKELY FALL CONSIDERABLY IN THE FIRST HALF OF 2009, MAY BEGIN RISING AGAIN IN 2010
[13:01] {nemo} You mean they don't know?
[13:06] {dino} blah, ba blah, ba blah...or as elaine would say "yada yadda"
[13:07] {Threei} .56 RIMM long
[13:07] {vint} in .56
[13:07] {Threei} .45 stop
[13:07] {Threei} jeez
[13:08] {Threei} get me out of here
[13:08] {vint} wow
06[13:08] * nemo hands Vad a 2 litre bottle of Grey Goose w/intravenous
[13:08] {Threei} who said what where?
[13:09] {nemo} Here's a cultural reference, "Was that one lump or two?"
[13:10] {Threei} market literally trips of itself
[13:10] {larisa} hey! 0.05 bounces DO work! :)
[13:10] {larisa} lol
[13:10] {Threei} uhhu
[13:14] {Threei} today I will have to side with magoo
[13:14] {Threei} frustrating market
[13:14] {Threei} but mags, it's a one time deal
[13:14] {magoo} vad..yesterday suk too
[13:14] {Threei} next time I agree with you on anything is going to be in 2010
[13:14] {magoo} 2 winners in first 10 mins..thats it
[13:15] {nemo} there have definitely been more suck days since the beginning of the year. It's averaging about 2 a week
[13:16] {nemo} Then again the other three have been killings, and, if I remember correctly...it was home run day after homerun day in the Fall
[13:16] {dptl} gonna finish on positive note...and see ya all tomorrow...have a good one all..
06[13:16] * Threei slaps dptl around a bit with a large roll of cash
[13:16] {magoo} u 2 dp
[13:16] {dptl} :)
[13:17] {Threei} what kind of friend are you really
[13:17] {patience} this chaos has been good for my trading style
[13:17] {Threei} we are suffering here, and he not only leaves but leaves with profit
[13:17] {nemo} Reminds me of a Steve Miller song...
[13:18] {dptl} :)
[13:21] {patience} back in hgu
[13:22] {larisa} patience, go on vacation, so chaos can stop for a while :)
[13:23] {patience} vad, take me to the bahamas please
[13:23] {larisa} lol
[13:23] {_bobv} jajaja
[13:23] {Threei} that's a market for your trading stykle, not mine... so who is taking who
[13:24] {patience} i have so many more mouths to feed though
[13:31] {Threei} uh oh
[13:31] {Threei} Muzak filed for bankruptsy
[13:31] {Threei} the only kind of music I understand...
[13:31] {nemo} Thank God!
[13:31] {patience} you are going to start singing in the elevator now?
[13:31] {Threei} I hope they don't sop playing it in elevators
[13:33] {Threei} if Lego goes out of business, I'll be left with no enetrtainment at all
[13:34] {Threei} of course there are those books where you need to paint within the lines... but I have troubles with those
[13:35] {magoo} this mkts going RED
[13:43] {Threei} IMF: NOT CHANGING GOLD SALE PLANS
[13:43] {Threei} - Reminder on 4/7/08 IMF Board backed plan to sell 403.3 Tons from Gold holdings, sales would require approval from US Congress
[13:43] {Threei} almost there... DJI is last one green
[13:44] {Threei} PREVIEW: JAN MONTHLY BUDGET STATEMENT DUE OUT AT 2PMET
[13:44] {Threei} **consensus expectation: -$78.0Be v +17.8B prior
[13:44] {larisa} cmon market, life is good and spring is coming! :)
[13:44] {dino} axys stopped
[13:45] {nemo} Miss sunshine
[13:45] {larisa} ty:)
[13:46] {Threei} US SEN LIEBERMAN: SENATE BILL MAY CUT HOME BUYING TAX CREDIT TO $7,500 FROM $15,000
[13:46] {Threei} great
[13:46] {Threei} DJI red
[13:46] {Threei} seems every time these guys open thier mouth it's a new whack on the market
[13:53] {dawg} RIMM in .98 out .10 small shares for crissake
[13:54] {Threei} did the same, only with 1000... for the same reason
[13:54] {dawg} wtg Vadster
[13:54] {nemo} The Darkside strikes back!
[13:56] {cosmo} NICE wants more ... if she breaks 21.90
[13:56] {Threei} AMZN, half lot short .60 break
[13:56] {Threei} if stays below .70
[13:58] {Threei} S&P REVISES U.S. SUBPRIME AND PRIME RMBS LOSS ASSUMPTIONS
[13:58] {Threei} - Due to the generally poor outlook for the U.S. housing market, increased delinquencies and defaults, and residential inventory buildup, Standard & Poor''s is projecting that the underlying mortgage pools supporting subprime RMBS transactions issued in 2006 will experience aggregate cumulative losses ranging from 23% to 27% of the original principal balance, with an average of approximately 25%, and pools supporting transactions issued in 2007 will experience aggregate cumulative losses ranging from 28% to 32%, with an average of approximately 31%.
[13:59] {Threei} 5 cents, today's profit range per larisa
[14:00] {Threei} JAN MONTHLY BUDGET STATEMENT: -$83.8B V -$78.0BE
[14:00] {Threei} yikes
[14:03] {Threei} AMZN 1:1 for crissssssake
[14:04] {dawg} )}
[14:04] {Threei} lol
[14:04] {dawg} me too
[14:05] {Threei} hawk, look dcc please
[14:05] {Threei} market isn't dropping on that?...
[14:05] {nemo} it's been talked about forever
[14:09] {cosmo} NICE salmon
[14:10] {cosmo} well schooled
[14:11] {nemo} cute cosmo
[14:11] {cosmo} they have to be...
[14:12] {nemo} naother leg down coming?
[14:13] {Threei} most likely
[14:15] {Threei} looks like panic selloff in the making
[14:15] {Threei} RIMM is likely to make new lows
[14:17] {Threei} -10... what a carnage on RIMM
[14:18] {Threei} laserdave, dcc
[14:28] {Threei} sheesh
[14:28] {Threei} anyone can read this?? :)
[14:28] {dawg} caugt spike in RIMM .91 to .38 small shares
[14:28] {Threei} wow
[14:28] {Threei} nice!
[14:28] {dawg} ).
[14:30] {Threei} no way in the world I could see this spike coming
[14:31] {wulff} need to put your spikey hat on
[14:32] {Threei} but, ever since I put spikes on inner side, it hurts
[14:32] {dawg} lol
[14:34] {wulff} kind of neutral here
[14:35] {Threei} .50 break on RIMM?
[14:35] {Threei} dawg?
[14:36] {dawg} i'll man up for that Vad
[14:37] {Threei} not breaking yet... but trying
[14:37] {dawg} ).
[14:40] {wulff} c'mon girl
[14:40] {magoo} resort to violence vad
[14:40] {nemo} whip the bitch
[14:41] {nemo} oooh....sorry...got a little carried away
[14:41] {wulff} who has the spikey hat on?
[14:42] {Threei} can you believe this?
[14:42] {nemo} reality sucks
[14:43] {magoo} it will rinse us..then pop 3 points
[14:43] {Threei} anyway, this pullback gave us support level for a stop
[14:43] {magoo} in
[14:43] {dawg} in
[14:44] {wulff} allready in
[14:44] {Threei} 1:1 was easy
[14:44] {Threei} can it do more, no idea
[14:45] {Threei} half out .67
[14:46] {wulff} scalp
[14:48] {magoo} stock down 10 points..cant even get 20 cents
[14:51] {magoo} WHOOOOOOOHHOOO
[14:51] {Threei} SENATE MAJORITY LEADER REID: NEGOTIATORS HAVE REACHED A DEAL ON STIMULUS BILL
[14:51] {dawg} out if full
[14:51] {Threei} no
[14:51] {Threei} I am tired of it
[14:51] {Threei} I am holding
[14:51] {Threei} .45 stop
[14:51] {Threei} and I want it over 48
[14:51] {magoo} look at that spike
[14:52] {Threei} that's a good spike
[14:55] {wulff} somebody put the hat away
[14:55] {Threei} yessssss
[14:56] {Threei} my a$$ is out 48.15
[14:56] {Threei} +63
[14:56] {Threei} .63
[14:56] {magoo} me too .13 YYYYYYYYYYYEEEEEEEEE
[14:56] {magoo} biggest gain of year
[14:56] {Threei} jeez... took all day to get one worthy trade!
[14:57] {magoo} stay focused boss
[14:57] {Threei} but it made day positive
[14:57] {nemo} yeah...well get your arm back over your shoulder
[15:03] {dino} lol only about 135 to go
[15:04] {nemo} looks like the euphoria might be wearing off
[15:05] {dino} chatter about m2m coming out again
[15:05] {cosmo} NICE test at 22.19
[15:09] {dawg} RIMM in .20 break out .38 small shares
[15:09] {Threei} don't overdo it... market retreats :)
[15:09] {dawg} OK i'm done for the day
[15:14] {dino} gj dawg
[15:15] {magoo} GS takethe high vad?
[15:15] {dawg} ty dino
[15:15] {Threei} feels so mags...
[15:15] {magoo} to me too
[15:16] {magoo} mkt help of course
[15:16] {patience} vad, is today a heavier volume day? ty
[15:17] {Threei} vs yesterday? no
[15:17] {wulff} go PALM
[15:17] {magoo} in out GS .22 - .61
[15:17] {magoo} that fast
[15:22] {Threei} wait
[15:22] {Threei} what do you mean saying
[15:22] {Threei} [14:56] {magoo} biggest gain of year
[15:23] {Threei} we had bigger trades
[15:23] {dino} not magoo 3i
[15:23] {Threei} where was he then
[15:23] {magoo} how come no comment on my GS
[15:24] {magoo} asked u..took it
[15:24] {magoo} +.39
[15:24] {Threei} well... we were jealous
[15:24] {Threei} so we ignored you
[15:24] {magoo} oh..i can relate to that
[15:24] {Threei} :)
[15:25] {dino} where is he ever
[15:28] {dino} xl
[15:29] {Threei} important how we close this day
[15:30] {Threei} if with rally, it bodes well for a very strong day tomorrow
[15:31] {magoo} if IF buyers show up...RIMM should see 49
[15:32] {wulff} sensei, anything in particular that made you keep RIMM for more than a scalp?
[15:32] {dino} if...a word in the middle of life
[15:32] {magoo} also in middle of..nifwitt
[15:34] {Threei} couple things wulff
[15:34] {Threei} one of course was it being down so much for what just doesn't seem to be any valid reason
[15:35] {Threei} I meant haircut is fine,
[15:35] {Threei} but beheading for merely return to normal sales after holiday spike?
[15:35] {Threei} so there was kind of loaded spring in it
[15:35] {magoo} and not even 1 pre bounce before his call
[15:35] {Threei} right
[15:36] {dino} rimm trades to 52 tomorrow
[15:36] {Threei} and another, that .50 resistance,
[15:36] {Threei} it held for so long absorbing so much buying
[15:36] {wulff} ok
[15:36] {Threei} usually when a seller is finally steamrolled in such cases, stock has nice p;otential
[15:36] {Threei} big seller is finally done
[15:37] {magoo} mr miogi
[15:37] {Threei} providing he isn't back with more of course, lol
[15:37] {Threei} but more often that's the end of a big chunck of selling
[15:37] {wulff} dump truck selling
[15:37] {Threei} yes
[15:37] {Threei} the concept here is,
[15:37] {magoo} 15:37] {magoo} mr miogi
[15:37] {Threei} he has some huge block to sell,
[15:37] {magoo} how u know so much:)?
[15:38] {Threei} so he is looking for a certain point
[15:38] {Threei} where buyers are wqilling to take a lot
[15:38] {Threei} he isn't lifting because he is not confident buyers will chanse,
[15:38] {dino} 3:40ish spike up coming
[15:38] {Threei} and because at higher prices he will have more competition from other sellers,
[15:38] {magoo} its been real late dino...3:43
[15:39] {Threei} so this equilibrium he found is kind of ideal combination: not many other sellers, and buyers are taking all he has
[15:39] {magoo} which stock vad??HE HE
[15:39] {wulff} complex
[15:39] {Threei} we had similar situation last week or mabe one before that
[15:39] {Threei} don't remember stockj
[15:39] {Threei} hawk was with me on it
[15:39] {Threei} I remember price... .15
[15:40] {magoo} palm
[15:40] {magoo} popped to .80
[15:40] {Threei} seller just wouldn't budge, no matter how much buyers took
[15:40] {Threei} then he was finallyu out, and a stock was up 20 cents or so in a blink of eye
[15:40] {wulff} seller meaning at the "ask"?
[15:40] {Threei} right
[15:41] {Threei} I remember that was ARCA
[15:42] {Threei} what you want to see in such cases is stock pulling back shallowly from the resistance, immediately rreturning, hitting offer again and again
[15:42] {Threei} exactly what you saw on RIMM today
[15:42] {Threei} also, it's usually one guy
[15:43] {Threei} all tohers are eliminated, he is holding the fortress singlehandedly
[15:43] {Threei} while he is sitting there, some return to sell with him and get taken out right away, and he is alone again
[15:44] {Threei} almoast always he is using reserve
[15:44] {wulff} yup
[15:44] {Threei} all you see is 100-200 shares
[15:45] {larisa} stubborn stock was STT with seller at 23.15 :)
[15:45] {Threei} wow.. thank you :)
[15:45] {larisa} yw
[15:46] {Threei} you remember? or found it somewhere?
[15:46] {larisa} my notes
[15:46] {larisa} febr 03
[15:46] {Threei} okay then... makes me feel better that it's not my memory (which is admittedly barely enough to remember my name in the morning)
[15:47] {Threei} but makes me think, I am being watched and documented
[15:47] {larisa} absolutely
[15:47] {Threei} RIMM really trying
[15:56] {Threei} CEOS AT CONGRESSIONAL HEARING WITH EXCEPTION OF CITIGROUP'S PANDIT NOTE THEY DO NOT PLANT O SEEK ADDITIONAL TARP CAPITAL
[15:56] {dino} good
[15:59] {Threei} FAS is closing almost at high
[16:00] {wulff} ty for the education
[16:00] {Threei} always
[16:00] {magoo} rough day..but green..tired
[16:00] {Threei} okay guys
[16:00] {magoo} ty sensei
[16:00] {Threei} tired but overall not unhappy with this day
[16:00] {nemo} P&Q
[16:00] {magoo} yup
[16:00] {magoo} gotta hunt all day
[16:00] {Threei} thank you all for your patience
[16:00] {magoo} never know what shows up
[16:00] {Threei} takes a lot of it to wait out unfavorable market
06[16:00] * larisa slaps Threei around a bit with a large trout
[16:01] {Threei} hmmm
[16:01] {larisa} had to vent
[16:01] {Threei} what was that for?
[16:01] {Threei} oh
[16:01] {Threei} kay then
[16:01] {Threei} feel free
[16:01] {larisa} :)
[16:01] {Threei} just send me something for bruises
[16:01] {larisa} lol
[16:01] {Threei} have a good evening, see you tomorrow
[16:02] {vint} good evening Vad, see you tomorrow
[16:02] {vint} bye all
[16:02] {Threei} yoo too
