Thursday, February 12, 2009

Feb 12 2009

What a day. Can't say we exploited it to the fullest, this last hour rally wasn't easy to read by any means and even harder to chase after seeing all bounces being sold throughout the day. Still, almost all trades worked, and swing trade on PALM hit its $9 target. No complaints.

Session Time: Thu Feb 12 00:00:00 2009

[08:10] {Threei}  - Expectations for initial claims are 610K v prior release of 626K (range seen from 510K to 650K)
[08:10] {Threei}  - Continuing claims seen at 4.800M v prior 4.788M. (range seen from 4.710M to 4.860M)
[08:13] {larisa} good morning :)
[08:13] {Threei}  larisa :)
[08:13] {larisa} threei :)
[08:14] {nemo} Larisa :)
[08:14] {Threei}  if DRYS dropped so much during those 18 sessions, what happens top it now, lol
[08:14] {nemo} delisting
[08:14] {larisa} gm nemo :)
[08:30] {Threei}  NITIAL JOBLESS CLAIMS: 623K V 610KE
[08:30] {Threei}  CONTINUING CLAIMS: 4.810M V 4.800ME
[08:30] {Threei}  - Prior jobless claims revised from 626K to 631K
[08:31] {Threei}  JAN ADVANCE RETAIL SALES: 1.0% V -0.8%E; LESS AUTOS: 0.9*% V -0.4%E
[08:31] {Threei}  - Prior Advance Retail Sales revised from -2.7% to -3.0%
[08:31] {Threei}  - Prior Less Autos revised from -3.1% to -3.2%
[08:33] {Onix} gm all
[08:33] {Threei}  market is hungry for any good news
[08:33] {Threei}  onix :)
[08:33] {Threei}  retail sales look unexpctedly good
[08:41] {cujo} good morning
[08:41] {Threei}  cujo :)
[08:42] {nemo} canus domesticus :)
[08:43] {cujo} morning nemo
[08:44] {_livia} good morning
[08:44] {Threei}  livia :)
[08:45] {Threei}  - Fears concerning French auto bailout are not founded
[08:45] {Threei}  - Loands to French carmakers will be at the market inrterest rates
[08:45] {Threei}  - None of the conditions for auto loans are protectionist
[08:45] {Threei}  - Reminder on 02/11 EU's Kroes: Recently announced French car plans are 'clear protectionist' rhetoric
[08:57] {Threei}  so far, stimulus package being pushed through is not impressing market at all
[08:57] {nemo} no look at FAS/FAZ
[08:58] {Threei}  it's help to financials that market is very sensitive to
[08:58] {dino} gm all
[08:58] {Threei}  dino :)
[09:03] {pita} gm everyone
[09:03] {Threei}  pita :)
[09:03] {cujo} g'morning pita
[09:04] {pita} hey cujo
[09:08] {tomg} good morning all
[09:08] {Threei}  tom :)
[09:08] {Threei}  APOL got beating
[09:08] {Threei}  dino, your kind of stock maybe
[09:09] {Threei}  thin, moves in wide ranges
[09:12] {wulff} a link to a NY Magazine article about Daytrading if things get boring. Real good
[09:12] {wulff}
[09:16] {Threei}  very much reminds me articles about day tdaing of 1990s
[09:17] {Threei}  lol
[09:17] {Threei}  technical analysis, a controversial method of prediction based on studying buying and selling patterns.
[09:17] {Threei}  what is so controversial about that?
[09:18] {Threei}  FAS is back into yesterday's low
[09:18] {wulff} populace is oblivious
[09:19] {dino}  vad, magoo has lost all type of connection to your room, please email him the info
[09:19] {Threei}  just a sec dino, let me dig it out
[09:20] {Threei}  sent
[09:20] {dino} ty
[09:21] {Threei}  oh boy
[09:21] {Threei}  one of the most useless books ever written about tyrading is getting such a respectful reference:
[09:21] {Threei}  Even Burton Malkiel, the Princeton economist who wrote the 1973 best seller A Random Walk Down Wall Street, which argued that technical analysis is a bogus method of prediction, admits that its a strategy that seems to be working now.
[09:21] {Threei}  even?
[09:21] {Threei}  lol
[09:22] {fernp} Hello everybody
[09:22] {Threei}  fern :)
[09:22] {_bobv} hi
[09:22] {Threei}  bobv :)
[09:23] {Threei}  be back in 5
[09:23] {magoo} SIGH...
[09:24] {magoo} back in old style room
[09:24] {dino} apol done on cpla earnings, maybe?gap around 77-78
[09:24] {magoo} my shortcut icon is no longer valid
[09:26] {_bobv} seems today will be an interesting day, futures lower
[09:27] {nemo} did you move any files in your file manager mags?
[09:27] {dptl} good morning all
[09:28] {Threei}  magoo, dp :)
[09:28] {_bobv} gm
[09:29] {Threei}  RIMM is getting sold again
[09:31] {Threei} Short Setup: HIG  .70 break half lot if stays below .90
[09:33] {magoo} man, missed it and was ready
[09:33] {dino} big opening gaps 
[09:33] {Threei}  cover half or scalp
[09:33] {wulff} missed
[09:33] {fernp} too fast. missed
[09:33] {nemo} me too
[09:33] {Threei}  cover in full here who got it
[09:33] {tomg} ty vad
[09:33] {nemo} would have been NIiiiiceeeee
[09:33] {Threei}  tom :)
[09:33] {cujo} very nice
[09:34] {cujo} in .68 out 1/3 .40 1/3 .35 1/3 .34
[09:34] {dino} rimm upgrade
[09:34] {_bobv} gj
[09:35] {dino} nice guys
[09:35] {nemo} upgrade?  surprise...not...up $2
[09:36] {dino} feb lows ndx 1167, s/p 812
[09:36] {dino} dji broke them
[09:37] {wulff} XLF l .98
[09:40] {dino} auto business sucks everywhere but china it seems
[09:40] {Threei}  NFLX, try to bid small shares .75
[09:40] {ese} morning
[09:41] {Threei}  stop under .50
[09:41] {Threei}  ese :)
[09:42] {dino} lod's
[09:43] {wulff} .65
[09:43] {dino} watching apol, fdo, dltr, emr, mcd, wmt
[09:44] {dino} darn apol, wanted hi 75s
[09:45] {Threei}  feel free to exit NFLX here
[09:45] {tomg} ty vad :)
[09:45] {Threei}  welcome
[09:46] {dino} memories..."that smell" on
[09:46] {pita} ty, got small piece
[09:46] {Threei}  pita :)
[09:46] {wulff} NFLX +.33
[09:46] {Threei}  cool beans
[09:46] {Threei}  easy money
[09:47] {Threei}  rarity these days
[09:47] {wulff} very
[09:48] {Threei}  - Report was published in the New England Journal of Medicine on Wednesday
[09:48] {Threei}  - The case was first reported in November
[09:48] {dino} and fri. they push it until tues (mon. holiday)
[09:48] {Threei}  GERN jumped on that
[09:48] {Threei}  don't chase
[09:48] {Threei}  GERN is heavy pullback stock
[09:49] {tomg} asia on pb vad?
[09:51] {Threei}  11.40 is nearest support... next is 11.20... let's observe how it behaves as it donticks to it
[09:51] {Threei}  02/11/09 04:24pm
[09:51] {Threei}  [ASIA] AsiaInfo Holdings, Inc. Reports Q4 $0.23 v $0.16e, R $53.7M v $49.1Me
[09:51] {Threei}  - Guides Q1 EPS $0.12-0.13 v $0.11e
[09:51] {dino} steppib=ng back
[09:51] {dino} stepping
[09:52] {fernp} cover XL +.20
[09:52] {Threei}  nice one fern
[09:52] {fernp} ty
[09:52] {dino} axys, rimm afam  appl green
[09:53] {Threei}  don't be in a rush to buy it here tom
[09:53] {Threei}  it's a treacherous stock
[09:53] {tomg} ok
[09:53] {dino} uh oh, feels bad
[09:53] {Threei}  failed first support with not so much as pause
[09:54] {Threei}  FAS
[09:54] {Threei}  watch for double bottom
[09:54] {Threei}  8 support
[09:55] {Threei}  if holding it, 8.11 long, semi-aggressive entry
[09:55] {Threei}  looks to fail rather though
[09:56] {dino} .
[09:56] {Threei}  yup, lost 8
[09:59] {patience} good morning RT  :)
[09:59] {Threei}  patience :)
[10:00] {Threei}  DEC BUSINESS INVENTORIES: -1.3% V -0.9%E
[10:01] {Threei}  how do ytou spell ugly?
[10:01] {dino} w/ capital letters
[10:02] {dino} under the obama takes over levels
[10:06] {tomg} fas?
[10:07] {Threei}  can't tell tom
[10:08] {tomg} ty
[10:08] {Threei}  best way to play it that I see is to try to get it as close to 8 as you can get with 7.95 stop
[10:08] {tomg} ok
[10:09] {dino} off 7% since monday highs
[10:12] {dino} afam, rimm, ms, axys green
[10:15] {nemo} see oil?  Somethin' ain't right.  Reminds me of the gold market for the last couple of months
[10:15] {Threei}  why is it not right?
[10:16] {nemo} dropped that much since yesterday?
[10:17] {Threei}  market is down... oil is moving with market lately
[10:17] {nemo} this is reminding me of what happened in reverse.  I look at gas prices and their movements aren't correlated with oil.
[10:17] {Threei}  with some divergencies here and there
[10:18] {Threei}  no, gas styarted its own life to a degree
[10:18] {nemo} Retail prices are going up 3-8 cents a week
[10:20] {Threei}  watching GG for long
[10:21] {dino} woring off higher inventory prices
[10:21] {dino} woking
[10:21] {dino} working
[10:21] {dino} i can't type
[10:22] {Threei}  as if anyone can
[10:22] {nemo} 110 words a minute
[10:22] {larisa} i can, correct way is wokring
[10:22] {Threei}  lol
[10:22] {dino} lol
[10:22] {Threei}  and notice, in my "lol" I confused first and second Ls
[10:23] {nemo} yeah, suppose to capitalize
[10:23] {Threei}  GG feels to me like setting up for a big move
[10:23] {Threei}  but finding entry onit is tricky
[10:23] {dino} bios holding fairly well
[10:24] {Threei}  {MA V}
[10:25] {dino} rimm 50
[10:26] {dino} think its more banks than v ma
[10:27] {nemo} lllllllllllllllyyyyyyyyyyyyyyyyyyyy
[10:27] {magoo} how do i make thids room window sytay on top as i look at other windows anyone?
[10:28] {ese} bstop QQQQ .00
[10:28] {magoo} its a setting..cant remember it
[10:28] {Threei}  RIMM is trying to form C&H
[10:29] {magoo} K..nemo..vad???
[10:29] {Threei}  I know for mirc mags, not for mibbit
[10:29] {ese} full lot
[10:29] {ese} l QQQQ
[10:30] {magoo} ok
[10:31] {fernp} keep on top utility. magoo.
[10:31] {KSystems} thanks fern
[10:31] {KSystems} you need third-party software magoo, as mibbit cant do it by itself
[10:31] {fernp} :)
[10:31] {magoo} i need to download that?
[10:31] {fernp} yes
[10:32] {magoo} then what?
[10:32] {dino} watching apol, as cpla pushes higher
[10:32] {fernp} select mibbit window from the list
[10:33] {ese} dino are you in cpla....been watching that most of the morning
[10:34] {ese} thought long at 55.50  but didn't do it
[10:34] {ese} up 3 bill from there now
[10:34] {ese} was juuusssst a little tooo thin for my liking
[10:34] {dino} no unfortunately, using as tell for apol
[10:34] {magoo} i have to buy it it saysn
[10:34] {dino} 79.75 waiting
[10:35] {Threei} Long Setup:  RIMM  50 break half lot
[10:35] {Threei}  if stays above .80
[10:35] {magoo} says i need to purchase UnzipWizard..sound correct to u?
[10:35] {ese} if the q's go though 30    i'm thinkin up for the rest of the day....
[10:36] {fernp} no. it is free
[10:36] {magoo} not that link
[10:36] {wulff} plug the market back in
[10:37] {fernp} use this and click on "external mirror 1"
[10:37] {fernp} just downloaded and working fine
[10:38] {dino} magoo's gremlins will not allow it
[10:43] {magoo} .
[10:46] {Threei}  great... sharp spikes out of nowhere started
[10:46] {Threei}  next is big red bar I assume
[10:46] {magoo} am i here/been bumpred so many times
[10:46] {Threei}  yes mags
[10:46] {magoo} ty
[10:46] {magoo} i know i shouldnt have cursed the trading gods last nite
[10:47] {nemo} oh jeez...gotta' go make a sacrifice
[10:48] {magoo} maximus...i will sacrifice a 100 bulls {for the bull mkt 'ally guys}
[10:49] {nemo} boy, that's a lot of bs...
[10:49] {Threei}  RIMM setup is back
[10:50] {magoo} in .97 aggress
[10:51] {magoo} 'damm was watchin fas 7.90 area
[10:51] {fernp} under .80 stop?
[10:51] {Threei}  yes
[10:51] {Threei}  if triggers, not a scalp for me
[10:51] {Threei}  partial and let it trade
[10:52] {gen} gm everybody
[10:52] {dino} cyber issues
[10:52] {Threei}  gen :)
[10:52] {gen} Vad :)
[10:52] {Threei}  feels classic consolidation for a big break, just needs market help
[10:53] {dino} mcd sm l .05
[10:57] {cosmo} atvi healing
[10:58] {dino} guess apol not going to fill
[11:02] {Threei}  let's change tactic on RIMM
[11:02] {Threei}  .55 break
[11:03] {Threei}  stop .45
[11:03] {nemo} l or s?
[11:03] {nemo} I'll gather l
[11:05] {Threei}  half out
[11:05] {Threei}  or scalp if you like
[11:06] {Threei}  stop to under b/e
[11:07] {gen} thanks Vad :) +.15 RIMM
[11:07] {Threei}  :)
[11:07] {cujo} out +.15 as well.  thanks Vad. 
[11:08] {Threei}  welcome
[11:09] {cujo} nice audible Vad
[11:09] {Threei}  audible?
[11:09] {magoo} nice bioss
[11:09] {cujo} last min change of strategy in foot ball terms
[11:09] {buyemsellem} football reference, changing the play in the huddle
[11:10] {buyemsellem} by football i mean american football
[11:10] {Threei}  thanks... unfamiliar term :)
[11:10] {nemo} or at the line
[11:10] {buyemsellem} oh yeah, actually it's at the line you're right
[11:10] {nemo} yeah qb sees the defense, changes the play
[11:17] {dino} apol big pullback
[11:22] {Threei}  if market dives sharply, RIMM short on .50 break
[11:22] {Threei}  with stop above .60
[11:26] {dino} vad, did you forget what i said yesterday on rimm?
[11:26] {Threei}  remind me
[11:26] {larisa} you said 52
[11:26] {dino} indeed
[11:26] {wulff} any good ideas for my PALM target, ST?
[11:26] {magoo} powereing up here
[11:27] {Threei}  where are you long from on PALM?
[11:27] {wulff} 7.75
[11:28] {Threei}  if enough shares for partial, take half
[11:28] {wulff} 1 lot, sounds good
[11:28] {Threei}  and let it trade, with any meaningful market rebound 9 should be reachable
[11:29] {wulff} ty
[11:29] {Threei}  RIMM, 50 break is kind of lingering setup
[11:29] {Threei}  will be on and off, until finally breaks
[11:33] {Threei}  meanwhile, it looks quite scalpable on market moves
[11:33] {Threei}  as long as .50 is holding, it's bouncing from there when market helps
[11:35] {wulff} i think its over 50 in less than an hour
[11:37] {Threei}  yeah, coiling
[11:37] {ese} i'm otta here for a bit...still long Q's catch ya later
[11:37] {Threei}  take care ese
[11:38] {ese} see ya vad
[11:44] {Threei}  NQ went green
[11:47] {cujo} rimm refuses to break 50...
[11:48] {wulff} like yest.
[11:49] {magoo} if or once it does prob go to m52
[11:51] {Threei}  {RIMM} don't rush me, I do things on my own schedule
[11:55] {dino} ndx and naz are separating from general market lately, much stronger
[11:59] {nemo} So....can we blame this on Mags since he pissed off the trading gods?
[11:59] {Threei}  financials weigh on listed where they are represented much heavier
[12:00] {nemo} I wasn't looking for a rational explanation...I wanted an emotional knee-jerk response.
[12:00] {magoo} blame what? today is easier trading day
[12:00] {Threei}  I actually commented on dino
[12:00] {magoo} my GREMLINS are the gods response tio me
[12:00] {nemo} oh.....nevermind
[12:01] {magoo} btw..cramer over on site is actually pissed at naz strenght
[12:01] {magoo} he wants it to crash...hes out of touch
[12:01] {nemo} hedgies...he's blaming them
[12:02] {magoo} if Gs cant powerup...bodes bad for overall day
[12:03] {Threei}  I truly hope tou meant Qs and not some kind of Gstrings or something of that kind
[12:04] {nemo} Well, it is lunchtime...and Mags is surfing
[12:04] {magoo} roflol..the latter or, um 
[12:04] {dino} afam?
[12:05] {nemo} cutting hours
[12:08] {magoo} this vad will appreciate...saw a news clip of seenate hearings grilling bank execs...asked show of hands of all execs who have a private jet...HE HE they all look sheepishly at each other and slowly raise hands..everyone
[12:09] {Threei}  I hate this populism
[12:10] {Threei}  good CEO now is the one who rides the bus... bad - SUV and private jet
[12:10] {cujo} i hate Barney Frank
[12:10] {Threei}  I second that
[12:10] {nemo} can't explain them as productivity tools 
[12:10] {cosmo} those......banksters
[12:10] {cujo} in my opinion he is the next spitzer
[12:10] {dino}  i 3rd that
[12:11] {dino} his pets were the '92 mortgage changes and fnm, fre
[12:11] {Threei}  yup
[12:11] {Threei}  and now he is Mr Righteouus Indignation
[12:12] {dino} just wait until they find the school boy tapes
[12:17] {Threei}  wow
[12:17] {Threei}  US and Ruissian satellites collide in space
[12:17] {nemo} yeah, yesterday...
[12:17] {Threei}  just saw it
[12:17] {Threei}  do they need traffic lights up there or what
[12:18] {larisa} not enough space even in space :)
[12:18] {nemo} old russian spy sattelite and one of the cellular satellites.
[12:18] {nemo} No, floating debris in orbit is a huge deal...Flecks of paint can go right through metal
[12:21] {Threei}  Iridium... now, that's name from the past
[12:21] {Threei}  symbol was IRID
[12:21] {nemo} Yeah...I was working in the industry back then.
[12:21] {Threei}  and I was trading the stock, lol
[12:21] {Threei}  PALM nice climb
[12:24] {Threei}  DJI -100, COMP practically flat
[12:24] {Threei}  some divergence
[12:24] {nemo} DJI is almost worthless...It's like that great athlete who shoulda' retired 5 years ago
[12:27] {Threei}  PALM tags the high 02/06
[12:30] {cujo} Vad, what was the set up on that NFLX from earlier?
[12:31] {Threei}  pullback into support
[12:31] {Threei}  on uotrending stock
[12:31] {cujo} thanks. 
[12:41] {Threei}  RIMM pulled back into 50
[12:42] {Threei}  see if market starts upticking from here to provide a scalp
[12:50] {magoo} .
[12:51] {magoo} need help....90 mm + how many inches exactly anyone?
[12:51] {magoo} = was equals
[12:51] {nemo} 2.54 cm to an inch 10 mm to a cm 
[12:51] {magoo} and 25mm = in inches?
[12:51] {Threei}  3.5433
[12:52] {magoo} 90mm = 3.5433 inches vad?
[12:52] {dino}  out mcd .45, +.40
[12:52] {Threei}  yes
[12:52] {cujo} nice trade dino
[12:52] {magoo} THANX
[12:52] {magoo} 25mm =?
[12:53] {larisa} what are you measuring magoo ?
[12:53] {cujo} .984 in
[12:53] {magoo} sons motocross suspension settings
[12:54] {larisa}
[12:54] {magoo} thanx cujo
[12:54] {cujo} np
[12:55] {Threei}  I don't know what I would be scared of more, that magoo answers larisa's question or sudden eartquake right under my house
[12:56] {nemo} He was heading off wise-ass comments at the pass.  I know...I was preparing one
[12:57] {magoo} neat site vad, thanx
[12:58] {magoo} she always did that to me when we were together lol
[13:09] {Threei}  yawn
[13:09] {cujo} some humor...
[13:09] {cujo}
[13:09] {nemo} just writing it made me yawn
[13:09] {nemo} watch "the smart dog" Vad
[13:10] {nemo} I used to live in SC...there' a lot of them...cute though
[13:11] {nemo} larisa dcc
[13:14] {pita} somebody waterboard me, I need to wake up...
[13:15] {pita} think I'll pick you all up later.
[13:15] {dino} sm l .60 apol
[13:17] {magoo} cramer is such a pessimst here..predicting dow 6000 or ;llowert
[13:21] {Threei}  if RIMM drops into 49 area, will be nice bounce opportunity
[13:22] {Threei}  I don't want to jump on this little bounces
[13:23] {Threei}  downtrend is fairly solid right now
[13:23] {Threei}  want nice flush
[13:23] {Threei}  look at FAS... what a misrey
[13:23] {Threei}  misery
[13:24] {Threei}  imagine what those who bet on big move on all those stimulus/TARPs feel holding FAS
[13:27] {nemo} three days of sell the news
[13:27] {Threei}  well... there was no real news to sell, lol
[13:27] {nemo} yeah...details
[13:27] {Threei}  to me, it looks different a bit
[13:27] {Threei}  market did want that news and was ready to ramp up
[13:28] {Threei}  selloff is disappoinment by absence of news
[13:28] {_bobv} I thnik the same
[13:29] {Threei}  - Attendees agreed that underlying mortgages were what needed to be addressed
[13:29] {nemo} looking at FAS voulme picked up after lunch, but no capitulation
[13:29] {nemo} for whom...what's good for the country is unlikely good for Goldman
[13:30] {Threei}  yeah, I am not so sure addresing mortgages will solve anything
[13:30] {dawg} RIMM scalp .46 out .56 for chrissake small shares
[13:30] {Threei}  this becomes a new setup dawg
[13:31] {Threei}  scalp for crissake
[13:31] {dawg} yessir
[13:36] {dino}   lol
[13:37] {Threei}  here comes more serious selloff
[13:40] {nemo} we need a toilet flushing .wav file
[13:40] {Threei}  hawk, look dcc please
[13:41] {nemo} there was a computer cleaning program called "Clean up" that had one.  It made a flushing sound as it cleaned your computer
[13:42] {Threei}  DOW CUTS DIVIEND
[13:46] {Threei}  CUTS DIVIDEND 64% TO $0.15 FROM $0.42
[13:46] {Threei}  - payable April 30, 2009, to shareholders of record on March 31, 2009.
[13:46] {Threei}  - Board of Directors cited a confluence of factors, including uncertainty in the credit markets, unprecedented lower demand for chemical products, the ongoing global recession and pending business issues.
[13:46] {Threei}  - Note: This is the first time DOW has cut their dividend
[13:48] {Threei}  - Note: Dow has upheld or increased its dividend for over 385 consecutive quarters, back to 1911
[13:48] {Threei}  wow
[13:48] {dawg} RIMM for a scalp in .17 out .31 small shares
[13:49] {Threei}  chrissake setup
[13:49] {dawg} yessir
[13:51] {Threei}  GS
[13:52] {Threei}  I suggest to shut down CNBC in order to provide for healthier markets
[13:52] {cujo} Personally i've moved to Bloomberg TV
[13:52] {Threei}  this is unbelievably irresponsible that some hack can move market by baseless speculations
[13:53] {cujo} worth it just to not hear Gasparino
[13:53] {cujo} aka the hack
[13:54] {Threei}  even loss of some nice-looking gals can be compensated easily if magoo shares thr sites he visits with us...
[13:56] {magoo} :)
[13:56] {magoo} vad, thouights on rest of day?
[13:58] {Threei}  up, but make it 51/49
[13:59] {Threei}  RIMM nicely bounced off 49.10
[13:59] {Threei}  not sure I want it here uinless it goes through new consolidation
[14:02] {Threei}  bounce zone again RIMM{ watch NASDAQfor guidance
[14:04] {magoo} .
[14:06] {Threei}  {--- waiting for dawg to report chrissake trade .41 - .63
[14:09] {dawg} GS bounce scalp for chrissake in .03 out .16
[14:09] {Threei}  lol
[14:09] {dawg} ).
[14:11] {Threei}  Monday is day off, right?
[14:11] {larisa} yup
[14:11] {nemo} bummer
[14:11] {patience} why?
[14:11] {Threei}  so, we have long weekend with stimulus bill most likely being signed over weekend
[14:11] {nemo} president's day
[14:11] {dptl} ye why?
[14:11] {nemo} President's Day
[14:11] {Threei}  what does it tell you about tomorrow's trading?
[14:12] {larisa} nothing
[14:12] {nemo} Don't want to get caught long
[14:12] {Threei}  larisa is right...
[14:12] {nemo} Yeah...just like the next two hours
[14:13] {larisa} I miss old good times, when smallest news moved stocks several points in right direction :)
[14:13] {Threei}  I am lost in these bill corrections
[14:13] {Threei}  reps fought it, and they were all for tax cuts,
[14:13] {Threei}  so how come compromise version prsentes less tax ioncentives?
[14:14] {nemo} Because more than 1/3 of the "working" population pays no taxes already, only fica and medicare.
[14:15] {magoo} i truly miss those continuing days when down 400 treversed to up 300
[14:15] {Threei}  what is it, nostalgy night?
[14:15] {patience} see you tomorrow guys
[14:16] {Threei}  take care patience
[14:16] {cujo} c ya
[14:16] {dino} out apol .65, +1.05
[14:16] {larisa} nice
[14:16] {dino} ty
[14:16] {Threei}  beauty
[14:16] {magoo} WOW
[14:17] {cujo} RIMM gettin near 50 again
[14:19] {dino} with cramer preaching crash, most likely we go up 300-400 pts in a day or two. he's always saying get out around 8000 and buy 8400
[14:19] {Threei}  well, you have to give it to him... he is consistent
[14:20] {cujo} Just remembering his Bear Sterns rant...
[14:20] {cujo} that was great. 
[14:20] {Threei}  so far, feels to me like solidly green day tomorrow
[14:20] {larisa} tomorrow is friday 13th too..
[14:21] {dino} of course it is larisa, of course
[14:21] {larisa} scary :)
[14:21] {Threei}  that's when we murder Freddie Kruger (sp?), right?
[14:21] {larisa} or he gets us
[14:21] {nemo} Ya' can't kill Freddy
[14:21] {Threei}  ok... Jason then
[14:22] {nemo} Na' they just resurrected him for another movie
[14:22] {dino} jason is the 13th
[14:22] {dino} kruger was funny
[14:23] {nemo} Probably when the movie comes out
[14:24] {dino} kruger was nightmare on elm street. magoo lives on elm street
[14:24] {dino} put it together...kruger is magoo
[14:24] {nemo} The walrus is Paul
[14:24] {nemo} Actually Kruger is better looking
[14:25] {dino} and dino is a flintstone
[14:26] {nemo} I liked Betty
[14:26] {dino} kruger tho, he had a sense of humor
[14:27] {Threei}  wacthing RIM... doesn't sell much with this market drop
[14:31] {Threei}  oil 34?
[14:36] {nemo} the toilet just keeps running...and running...
[14:38] {dino} watching mcd, wmt, vz, gild
[14:38] {Threei}  RIMM is bounce ready
[14:39] {Threei}  mrket uptick should jump it
[14:41] {wulff} sh HIG @ 12
[14:42] {magoo} 'what entry u want rimm.40 area?
[14:43] {Threei}  if it loses .50, likelty to dive more
[14:43] {Threei}  impossible to tell the price, pretty much will depend on market bounce
[14:44] {magoo} 201 down
[14:45] {dino} whoosh down coming imo
[14:46] {Threei}  yup
[14:46] {Threei}  that's why I am not in rush to jump on these microbounces
[14:46] {Threei}  unless you are scalping for 5-10 cents in seconds, makes no sense
[14:46] {magoo} its sad really
[14:47] {magoo} 380 down..barely bounce..200 down again
[14:47] {Threei}  it is what it is... sad markets are followed by happy markets
[14:48] {Threei}  although this year it's mor like sad markets are followed by sadder markets, lol
[14:50] {larisa} at these levels traders think we must retest lows i guess. Big mistake by Geitner. Or it was done for a reason we do not know about :)
[14:51] {Threei}  just a PR disaster IMO
[14:51] {larisa} I agree
[14:51] {Threei}  hugely built up expectations
[14:51] {Threei}  "Tim be be terrific"...
[14:51] {Threei}  will be
[14:51] {Threei}  then sizzle
[14:51] {Threei}  and no steak
[14:58] {magoo} see any short setrups if IF we going down 400?
[14:58] {Threei}  gosh... everything
[14:58] {dptl} have a good evening all
[14:58] {Threei}  take care dp
[14:58] {cujo} see ya
[14:59] {magoo} c u dp
[15:03] {Threei}  - Plan could aim to subsidize homeowner payments after a home value has been established and the homeowner has been means tested
[15:03] {dino} cya dp
[15:06] {Threei}  PALM is totally oblivious to market selling
[15:06] {dino} {7700
[15:08] {Threei}  frikin RIMM makes these scalpable moves but they are way faster than I could alert
[15:09] {dino} fafam screwy too
[15:09] {dino} afam
[15:09] {cujo} in Palm.52
[15:10] {Threei}  crap
[15:10] {Threei}  this was THE bounce on RIMM
[15:10] {cujo} dough
[15:10] {nemo} bounce on everything
[15:10] {magoo} chrissake scalp..rimm .33 to .58
[15:10] {cujo} doh i mean
[15:11] {_bobv} market bounce
[15:11] {Threei}  is it this CDS news that sent market flying??
[15:11] {nemo} damn things don't trade anyway, that's one of the problems
[15:11] {magoo} time of day is all
[15:12] {Threei}  nah
[15:13] {nemo} HS!
[15:14] {_bobv} I do not know what do you think guys but seems that sp support at this levels is very strong....
[15:15] {larisa} technical analysis are so controversial..
[15:16] {cujo} calling it a day. See you all tomorrow. 
[15:16] {Threei}  take care cujo
[15:16] {cujo} c ya
[15:16] {nemo} dog
[15:17] {Threei}  cool... democratic senator on CNN: there is a role for goverment in everytyhing we do
[15:17] {magoo} bye cuj
[15:18] {nemo} which senator
[15:18] {Threei}  missed the name
[15:19] {Threei}  glich or something close to that
[15:19] {Threei}  PALM... 9 is getting closer
[15:20] {dino} i'm starting to feel that this is a govt. conspiracy to grab power in every day business
[15:21] {Threei}  9!
[15:21] {Threei}  wulff
[15:21] {magoo} holy crap palm
[15:22] {wulff} sold 1/4 8.70
[15:22] {wulff} last I held
[15:23] {Threei}  and I begged you to hold for 9...
[15:23] {wulff} I did some
[15:23] {wulff} In HIG 12.06 though
[15:23] {Threei}  I don't see any news
[15:24] {Threei}  this explosion certainly looks news-caused
[15:24] {Threei}  nothing on wires though
[15:24] {_bobv} maybe a double bottom on sp futures vad
[15:24] {dino} ppt
[15:25] {Threei}  I still feel tomorrow should be green, and nicely green
[15:25] {larisa} how nicely ? +300 ?
[15:25] {magoo} rimm 
[15:26] {_bobv} ok guys, take care..bye
[15:26] {magoo} bye bobv
[15:26] {Threei}  take care bobv
[15:27] {wulff} Out for my last palm, or hold?250
[15:27] {dino} left?
[15:27] {Threei}  IMO, out
[15:27] {nemo} Well, if know news, program trading?
[15:28] {magoo} im believer of bank it
[15:28] {nemo} know=no
[15:28] {Threei}  on PALM? don't think so
[15:28] {nemo} in general...everything popped
[15:29] {nemo} Palm stayed relatively strong all day, but jumped with everhtying els @ 3:10
[15:29] {Threei}  anyone's guess
[15:29] {Threei}  market could react on this mortgage news
[15:30] {wulff} let's take vad $ and see what happens
[15:30] {nemo} FAS just keeps going
[15:36] {Threei}  you are still in HIG wulff, or took profit?
[15:37] {wulff} half out .25 half in
[15:37] {wulff} milking it
[15:37] {Threei}  ok... looks like we are double-topping
[15:41] {nemo} I'm off...P&Q
[15:41] {larisa} bye :)
[15:41] {Threei}  wow
[15:41] {Threei}  jeez
[15:42] {dino} this market is ridiculous anymore. it swings3% in half hour
[15:42] {wulff} is it fair to say vad you know what price you want to exit on every trade, DT ST or PT?
[15:43] {Threei}  not always
[15:43] {dino} isn't the long term yearly aberage somethong like 6%? we do that every other day
[15:43] {Threei}  roughly, yes,
[15:43] {Threei}  but market action changes things
[15:43] {dino} plunge protection team stepped up today
[15:43] {wulff} as it comes then. with faster buying etc.
[15:43] {Threei}  right
[15:44] {dino} what has changed from 3:00 pm -250 to 3:45 -30?
[15:45] {magoo} time of day...3:40
[15:45] {dino} no wonder nobody wants to hold for more than minutes
[15:45] {Threei}  I gues crisis is over and economy got cured
[15:45] {Threei}  move started at 3:10 mags
[15:45] {dino} as good as any reason imo
[15:46] {magoo} yeah
[15:46] {magoo} but second volly up 3:40
[15:46] {magoo} we finish dow green ill cut my wrists with a banana
[15:47] {Threei}  ok, and I'll eat my keyboard
[15:47] {wulff} PALM out .92 last 1/4
[15:47] {dino} heck magoo, green close i buy you a beer
[15:48] {dino} s&p and ndx only. screw the worthless dji
[15:48] {magoo} ill take one with n red too
[15:48] {wulff} out HIG +.30
[15:48] {dino} gj
[15:49] {dino} man i blew it, only 2 trades today. 2 for 2, but still i should hve been all over this
[15:49] {Threei}  I dunno dino... it came out of nowhere
[15:50] {dino} yeah, but this is what i get paid for
[15:50] {Threei}  and with every bounce earlier being sold into, was not an obvious decision to buy and hold this one
[15:50] {wulff} buy and hold 2 minutes
[15:51] {magoo} shows some strong dip buyers lurking
[15:52] {wulff} hig +another .10
[15:52] {dino} gj
[15:52] {wulff} no no it, not me
[15:53] {dino} ohhh mannnn i owe 2 beers if dji goes green
[15:53] {magoo} dammit..dino ate the last banana
[15:54] {fernp} lol
[15:54] {magoo} chrissake trade again...hit rimm .50 0ut .63
[15:54] {magoo} cant post ridiculous
[15:54] {magoo} just buy..put out sell
[15:55] {magoo} vad..u need to do a blog on the chrissake play
[15:55] {Threei}  lol
[15:55] {Threei}  this was quite amazing
[15:56] {Threei}  look at FAS
[15:56] {Threei}  what a difference one hour makes
[15:56] {magoo} cramer ptrob liquidated all his followers at bottom today AGAIN
[15:56] {Threei}  well... consistency, told ya...
[15:57] {Threei}  OK guys
[15:57] {Threei}  strong green day tomorrow
[15:57] {larisa} 4 more min, i want to see you eating your keyboard!
[15:57] {Threei}  thak you all, let's have a good relxing evening
[15:57] {Threei}  I'll tape it
[15:57] {Threei}  see you tomorrow
[15:58] {fernp} good evening
[15:58] {magoo} bye boss
[15:58] {larisa} bye and you can not have a cookie in a shape of keyboard :)
[15:58] {wulff} later all
[15:58] {dino} lol on cramer magoo
[15:58] {dino} cya vadster
[15:58] {dino} and wuff
[15:58] {magoo} GOING GREEN
[15:58] {magoo} -4
[15:59] {magoo} -2
[15:59] {magoo} 1 minute
[15:59] {Threei}  no way
[15:59] {magoo} -1
06[15:59] * Threei is off to buy new keyboard, just in case
[15:59] {Threei}  downticks
[15:59] {Threei}  whew
[15:59] {magoo} GREEN NAZ
[15:59] {Threei}  -8
[15:59] {Threei}  saved by the bell
[15:59] {larisa} :(
[15:59] {dino} capitulation was by many perhaps, cramer for sure
[15:59] {Threei}  but it was close
[15:59] {magoo} and magoo bananas
[15:59] {larisa} bye all
[15:59] {magoo} WOW
[16:00] {dino} take care bret michaels would say; "good times"