CAT and HIG shorts yielded nice sizeable profits in early trading. A few nice scalps with just one small stop helped make the day as close to perfect as it gets in this miserable market.
Session Time: Tue Feb 17 00:00:00 2009
[07:40] {nemo} Wie geht's heute Herrn K?
[07:40] {nemo} Hi LaserD
[08:15] {nemo} Anbody here?
[08:16] {Threei} no
[08:16] {Threei} but, good morning
[08:16] {nemo} Didn't think so
[08:16] {larisa} good morning :)
[08:16] {Threei} "ggod" is questionable too, eh?
[08:16] {Threei} larisa :)
[08:17] {larisa} threei :)
[08:22] {cujo} good morning
[08:22] {nemo} dog :)
[08:32] {Threei} *FEB EMPIRE MANUFACTURING: -34.65 V -23.75E
[08:32] {Threei} cujo :)
[08:32] {cujo} morning Vad
[08:32] {nemo} ouch!
[08:37] {nemo} We should be able to pick up FAS for $2 and change some time this week :)
[08:37] {Threei} cool
[08:39] {patience} good morning rt :) gold jumping nicely this morning
[08:40] {Threei} patience :)
[08:41] {magoo} morning
[08:41] {Threei} magoo :)
[08:41] {nemo} magus :)
[08:44] {magoo} end of world vad?
[08:44] {Onix} gm all
[08:45] {cosmo} that's on friday, magoo
[08:45] {cosmo} MELA
[08:47] {Threei} onix, cosmo :)
[08:47] {Threei} sure mags
[08:49] {_livia} good morning
[08:49] {Threei} livia :)
[08:49] {pita} gm everyone!
[08:50] {Threei} pita :)
[08:55] {tomg} good morning everyone
[08:55] {Threei} tom :)
[09:01] {fernp} Hi everybody
[09:01] {Threei} fern :)
[09:06] {dino} gm all
[09:07] {Threei} dino :)
[09:07] {nemo} dino :)
[09:07] {dino} ;)
[09:07] {magoo} vad..news RIMM AAPL GS?
[09:07] {Threei} ??
[09:07] {Threei} why would any of them need news?
[09:08] {nemo} any thoughts, percolating, distilling, brewing, photosynthesizing there Vad?
[09:08] {Threei} thoughts?
[09:08] {Threei} kidding?
[09:08] {nemo} well, I thought using the terms distilling and brewing might motivate you
[09:09] {cosmo} its the thought that coubts....
[09:09] {cosmo} counts
[09:09] {Threei} coubts is right
[09:09] {cosmo} hmm ...yea
[09:10] {Threei} FAS under 7
[09:10] {Threei} world ends dino
[09:12] {dino} indeed (again)
[09:12] {dino} as they say...it's a good day to die, and the day's not over yet
[09:14] {dptl} good morning all
[09:15] {Threei} dp :)
[09:20] {Threei} okay guys
[09:20] {Threei} this week is promising to be very nervous
[09:20] {Threei} with a lot of news coming from high above
[09:20] {Threei} and market digesting them
[09:20] {dino} plus expirationb
[09:20] {Threei} we have stimulus bill, financial help, automakers,
[09:21] {Threei} housing help coming
[09:21] {Threei} a lot of details will matter
[09:21] {Threei} so far market doesn't like any of it
[09:21] {Threei} but it's going to bery news-sensitive
[09:21] {Threei} What we need to do in this situaation is get back to our Sept-Oct trading
[09:22] {Threei} very careful picky, defensive
[09:22] {cosmo} watch CAT for indications?
[09:22] {Threei} not overtrading
[09:22] {Threei} staying picky and nimble
[09:22] {Threei} don't jump on selloffs too soon,
[09:23] {Threei} weak bounces are likely to be sold into
[09:23] {Threei} better miss something that jump on mediocre trades
[09:24] {dino} cat may be down off of de downgrade, can't get financing lined up for buyers cosmo
[09:24] {Threei} CAT is near major support at 30,
[09:24] {cosmo} CAT for sale?
[09:24] {Threei} and looks like breakdown is likely
[09:25] {Threei} let's see if it consolidates close enough to 30 for a nice tight stop, and short break
[09:26] {cosmo} if the 'buy american' sentiment picks up ....
[09:29] {Threei} if gold strength contines, GG will be interesting
[09:29] {Threei} tough one to time but will see
[09:30] {Threei} CAT is a bit too volatile for now
[09:31] {pita} FAS below 7 still good call?
[09:31] {pita} sinking fast
[09:31] {Threei} for what, long?
[09:31] {Threei} no
[09:31] {Threei} let it sink
[09:32] {Threei} CAT stablized a bit
[09:32] {Threei} let's see if it stays under .20 - .25
[09:33] {Threei} half lot short on 30 breakdown
[09:34] {Threei} see that big bid by ARCA at .09?
[09:34] {Threei} possible aggressive entry if it gets hit
[09:35] {Threei} with stop above .25
[09:37] {Threei} needs to lose 30 now
[09:38] {Threei} if does, there is a lot of downside
[09:41] {Threei} Short Setup: HIG .25 if holding below .40
[09:41] {nemo} half lot?
[09:42] {Threei} with 15-20 cents stop...
[09:42] {dino} 7500 strike in works for dji
[09:43] {magoo} agree dino
[09:43] {magoo} in hig
[09:43] {Threei} HIG 1:1, half out, scalpers take profit
[09:44] {magoo} out GihTY
[09:44] {magoo} 'hIG
[09:44] {magoo} sigh
[09:44] {magoo} HIG
[09:45] {Threei} stop to above .30 for the balance
[09:45] {nemo} Battle Royale at CAT
[09:46] {Threei} let's see how many lives CAT has
[09:46] {Threei} bad pun...
[09:46] {nemo} don't quit your day job
[09:47] {Threei} Seinfield can sleep well
[09:47] {magoo} dow-226
[09:47] {Threei} HIG 1:2, 1/4 more out
[09:48] {Threei} stop to .15
[09:48] {Threei} come on CAT, break down that wall
[09:48] {Threei} Attention: CAT cover half
[09:48] {Threei} stop to .15
[09:50] {fernp} out. ty vad
[09:50] {Threei} fern :)
[09:50] {Threei} scalpers make up your mind here,
[09:50] {Threei} the rest - look for serious dump,
[09:50] {Threei} quite possibly under 29.50,
[09:51] {magoo} waiting .58 here'
[09:51] {Threei} closer to 29 is not out of question
[09:51] {dino} 7500s
[09:51] {larisa} out CAT, beautiful call
[09:52] {magoo} out .70 TY
[09:52] {Threei} welcome guys
[09:52] {cujo} great calls Vad
[09:52] {Threei} yeah, I have my moments
[09:52] {nemo} Your moments are hours
[09:52] {cujo} HIG +.30
[09:52] {magoo} - 275
[09:52] {nemo} How's the arm?
[09:52] {Threei} only when senility hits and I forget to look at time
[09:52] {magoo} im speaker of obvious today ok?
[09:53] {cujo} CAT +.25
[09:53] {Threei} sorry mags, that's my prerogative
[09:53] {nemo} Geez...Mags even picked up some of your syntax
[09:53] {magoo} thought id give u a break
[09:53] {Threei} I am touched
[09:54] {cosmo} CAT 29.60 = recent daily low
[09:54] {Threei} my stop is trailed to above 30 on CAT
[09:54] {dino} gj
[09:55] {Threei} still looking for major reward on it, so trying to give it breathing room
[09:55] {magoo} if bounces ii may reenter
[09:55] {Threei} 29.60 is its low from 02/02
[09:56] {Threei} HIG stop to above 11 for the balance
[09:58] {Threei} .50 target is hit on CAT, and bounces are still pitiful
[09:59] {Threei} I guess I'll trail to above .90
[09:59] {Threei} and if loses .50 - to above .80
[10:01] {Threei} (US) WHITE HOUSE: STATES THAT OBAMA TO RELEASE BUDGET ON FEB 26
[10:02] {Threei} F
[10:02] {Threei} GETS $55M IN REFUNDABLE TAX CREDITS FROM THE STATE OF MICHIGAN FOR FUTURE ELECTRIC VEHICLES
[10:02] {Threei} good boy CAT
[10:02] {Threei} girl?
[10:03] {Threei} covered 1/4 more CAT +.50
[10:03] {Threei} stop to above .80
[10:03] {Threei} letting it trade
[10:03] {ese} morning...slept in.....
[10:04] {cosmo} CAT looks so....'shovel ready'
[10:04] {Threei} ese :)
[10:04] {Threei} lol cosmo
[10:06] {magoo} 2 beauties vad
[10:06] {Threei} stop to above .50, and getting ready to cover on the next dive
[10:06] {ese} bstop CTSH .01 1/2
[10:07] {ese} long
[10:09] {cujo} Great trade Vad...
[10:09] {Threei} stop to above .40
[10:09] {ese} stop .85
[10:09] {Threei} I have 90 cents here... am I getting too greedy?
[10:10] {cujo} nah
[10:17] {Threei} HIG new low
[10:18] {Threei} held 11 resistance like charm
[10:18] {ese} stopped .85 -.16 got no market help
[10:20] {dino} bac gap 4.90 filled
[10:22] {Threei} HIG stop to .85
[10:23] {Threei} CAT is not very clear here
[10:23] {Threei} haven;'t given me a reason to trail top tighter than .40
[10:23] {Threei} and doesn't make new lows
[10:24] {Threei} ok
[10:24] {Threei} out
[10:24] {Threei} .41
[10:24] {Threei} +.67 or something like that
[10:27] {Threei} HIG new low
[10:27] {Threei} stop to above .65
[10:29] {magoo} CAT may be a nice bouncer vad?
[10:29] {ese} ouuuu got in MDRX .19 1/2
[10:29] {Threei} still looks pathetic mags
[10:30] {Threei} OK, time to stop being too greedy I guess
[10:30] {Threei} out HIG last portion
[10:30] {Threei} +.70 or so
[10:31] {magoo} nice
[10:31] {magoo} id help u calculate but still working on my exit
[10:32] {ese} out MDRX .33 +.14
[10:32] {ese} quick hit
[10:32] {Threei} nothing's wrong with that
[10:34] {ese} nope not at all
[10:34] {Threei} I don't have clear feel for the market here, waiting for something to shape up
[10:35] {ese} mdrx did what i expected ctsh to do
[10:36] {ese} was watching RSI on ctsh thought it was strong enough
[10:36] {ese} is that because MDRX was trading a little thinner vad?
[10:37] {ese} certainly more risk with MDRX
[10:41] {Threei} hard to tell ese
[10:41] {Threei} not evverything has a clear reason
[10:42] {Threei} it's just one worked another didn't
[10:44] {Threei} CBAK
[10:44] {Threei} REAFFIRMS FY09 R$275-300M V $270ME
[10:44] {ese} hmmm.....
[10:45] {Threei} market took a very long breath
[10:45] {Threei} looks a bit more stable now,
[10:45] {Threei} want to see if it's a fake or trend changes
[10:46] {nemo} {@Alert} Threei want to see if it's a fake or trend #discussionsges
[10:47] {dino} rimm sm l .10
[10:48] {Threei} HIG is knocking on .70
[10:49] {Threei} don't chase it,
[10:49] {Threei} rather look for pullback in mid .60
[10:49] {Threei} and try to get it with tight stop under .60
[10:49] {Threei} just a scalp idea
[10:55] {Threei} took .66, not looking for much though
[10:56] {Threei} out .76
[10:57] {cujo} out .74
[10:57] {cujo} thankw
[10:57] {cujo} thanks
[10:57] {Threei} welcome
[10:57] {Threei} uhhu... now it goes :)
[10:57] {cujo} murphy's law...
[10:57] {Threei} whatever, it's hunt and peck
[10:58] {Threei} with two sizeable trades eaerlier, I am in capital preservation mode
[10:58] {nemo} The trading gods were very good the first hour
[10:58] {Threei} taking surest profits,
[10:58] {Threei} waiting for something more clear,
[10:58] {Threei} ignoring iffy trades
[10:59] {Threei} that's what got us through the fall with nice profits, and market is pretty much the same as we had back then
[11:01] {Threei} DRYS gives new meaning to the word UGLY
[11:06] {dino} gild sm l .90
[11:06] {cujo} any thoughts on RIMM here Vad?
[11:06] {Threei} chart is upward looking
[11:06] {Threei} help by market is a big IF
[11:07] {cujo} thanks.
[11:07] {Threei} if we get better market action, .35 is RIMM long trigger
[11:08] {Threei} wulff... mix of good/bad news for you
[11:08] {wulff} and
[11:08] {Threei} you finally woke up, which is good...
[11:09] {Threei} missed three nice trades, which is bad
[11:09] {wulff} figured
[11:09] {wulff} unavoidable work obligation
[11:09] {Threei} present them with bill for missed profits?
[11:10] {cujo} hate it when work gets in the way of trading :)
[11:10] {wulff} full on rimm if triggers?
[11:11] {Threei} I am not jazzed about this trade
[11:12] {Threei} just answered question... doubt I'd make a call
[11:12] {dino} change the station then 3i
[11:12] {Threei} if it consolidates tighter, let's say above .20, and market shows real strength, maybe then
[11:12] {dino} it wants 46ish
[11:19] {cujo} out RIMM +.10
[11:20] {Threei} why not
[11:20] {Threei} RIMM actually looks not too bad
[11:20] {cujo} yeah got in at .34 out .44
[11:20] {Threei} just don't want to get stuck in anything during this nausious market
[11:20] {dino} gj,
[11:21] {cujo} thanks dino
[11:22] {wulff} in POT .90
[11:24] {dino} still in
[11:26] {wulff} stopped
[11:28] {KSystems} elepet?
[11:28] {KSystems} dcc please :)
[11:29] {Threei} impressive resilience RIMM
[11:31] {dino} lol, -6% too
[11:31] {Threei} I mean how it's holding while market downticks
[11:31] {dino} i know, just irinic
[11:31] {dino} ironic
[11:31] {dino} a year in a day, again
[11:32] {Threei} yeah, perception divergence between day traders and those who see final numbers at the end of the day :)
[11:32] {wulff} palm too
[11:32] {Threei} saw it many times...
[11:32] {Threei} market opens -500, moves up to -100,
[11:32] {Threei} day trader says, strong bullish day
[11:32] {Threei} the rest of pupulation says red again
[11:33] {Threei} NASDAQ now is lower than where it was when RIMM tested .30 - .35 areas,
[11:33] {Threei} and RIMM is holding above it
[11:34] {cujo} CAT pretty close to day low. Any short set up?
[11:34] {Threei} chart wise, yes
[11:35] {Threei} I am just a bit hesitatnt to go to the same well too many times
[11:35] {cujo} yeah, shorting very small lot
[11:38] {magoo} u would ,make a good buck vad..cautious...not patternable
[11:38] {magoo} spooked easy
[11:38] {Threei} lol
[11:38] {magoo} quick to bolt lol
[11:42] {Threei} I gave it some thoughts magoo
[11:42] {Threei} (which in and of itself is not a small feat for me)
[11:42] {Threei} and decided, it's not me... it's market that is a good fit to your description,
[11:43] {Threei} and I am simply emulating the market
[11:43] {Threei} being the water so to speak
[11:43] {nemo} mizo no kokuro
[11:44] {Threei} great... another language to learn?
[11:44] {nemo} mind like the surface of calm water
[11:44] {Threei} I could count till 10 in Japanese when practiced karate
[11:44] {Threei} that's all the xntent of my language
[11:45] {nemo} hai
[11:45] {Threei} oh, and I know word satori
[11:45] {nemo} the Sake?
[11:46] {Threei} lol
[11:46] {dino} mela
[11:47] {pita} day job calling.... catch you all later I hope.
[11:47] {Threei} take care pita
[11:47] {larisa} 10 serifu ? amari.
[11:47] {Threei} there... and I though larisa knew subaru only
[11:48] {Threei} PALM...
[11:48] {Threei} I like this big pullback on daily
[11:48] {Threei} I just hate the idea of going long in this market
[11:49] {Threei} not hating it altogether, just for any extended period of time... and PALM is not a fast trader
[11:50] {Threei} stay patient guys
[11:50] {Threei} I know it's not easy
[11:51] {nemo} I gotta' go check on the horses anyway
[11:51] {Threei} but that's the major skill to deploy in this kind of market
[11:51] {Threei} ambush trading
[11:51] {Threei} sit in the trenches and wait for the weak anthelope to walk by
[11:52] {Threei} SEC IS SEEKING A TEMPORARY RESTRAINING ORDER AGAINST STANFORD FINANCIAL GROUP FOR ALLEGED FRAUD, MISREPRESENTING SAFETY OF UNISURED CDS
[11:52] {Threei} - SEC says it can not account for $8B in assets in Stanford's Antiqua bank - NYT
[11:52] {Threei} - Note that Stanford Financial Group is a privately held group of financial services companies. The firm's core businesses are private wealth management and investment banking for institutions and emerging growth companies.
[11:52] {Threei} - The firm confirmed on Friday that it has been under investigation by the SEC and the Financial Industry Regulatory Authority since January.
[11:53] {cujo} GS day lows
[11:53] {Threei} CAT starts working for you cujo
[11:53] {nemo} I like sentry work :)
[11:53] {nemo} SLW just popped
[11:53] {cujo} yup
[11:53] {cujo} took a while
[11:54] {cujo} out for scalp though....
[11:54] {Threei} that's fine
[11:54] {Threei} we got big trade out of it
[11:54] {Threei} no need to be a hero now
[11:55] {cujo} yeah, bonus play
[11:55] {Threei} exactly, icing on a cake
[11:55] {dino} bear markets we wait
[12:01] {Threei} CYTX interesting strength
[12:02] {Threei} moves on stem cells hype
[12:10] {Threei} CAT starts looking like there is more in the store
[12:11] {Threei} this slooooow slide
[12:14] {larisa} at these levels I want to wait for vol and fast selling to go for a bounce, you still think a lot of downside ?
[12:15] {Threei} hard to tell, we are in time period when market often starts those brief moves up adn down
[12:17] {Threei} overall, we haven't had any meaningful movement for what, couple hours now?
[12:18] {wulff} you like cytx now?
[12:18] {Threei} I'd like it much more closer to 4
[12:19] {Threei} CYTX is typical pre-news play
[12:19] {Threei} executive order in works about stem cells research funding,
[12:19] {Threei} so the names in the field get bought in dvance
[12:20] {Threei} and will be dumped into te hands os fresh crop of buyers when actual news is out
[12:20] {Threei} Since no one knows when it's going to happen, it's just us traders scalping each other for now
[12:21] {Threei} Buy too high, and you may have to hold it at loss, waiting for news to hit
[12:21] {Threei} only to get out flat at best
[12:21] {wulff} there is other fish to fry, as we say
[12:21] {Threei} take a look at daily, see when it started its upward march?
[12:22] {Threei} mid November... tells you something? :)
[12:24] {larisa} something in japanese, not sure what it is
[12:24] {nemo} larisa, what are you talking about?
[12:25] {larisa} nobody answered vad, i felt sorry for him, made funny joke, nobody understood, vad feels sorry for me now :)
[12:26] {Threei} not really, I aam not that sensitive
06[12:26] * larisa slaps Threei around a bit with a large trout
[12:26] {nemo} Yeah, just ask his wife
[12:26] {Threei} sorry about that {G}
[12:35] {cujo} going for a run. Back in a few.
[12:37] {Threei} DRYS
[12:37] {Threei} NORDEA BANK EXEC: DRYS IS MOVING IN THE RIGHT DIRECTION, DOING WELL FOLLOWING RENEGOTIATION OF LOAN - INTERVIEW
[12:37] {Threei} - Reminder: Back on 2/09 DRYS signed a preliminary agreement with Nordea Bank for a covenant waiver on its $800M prime lead facility
[12:37] {hawkfan4} so...down is the right direction?
[12:37] {Threei} lol, that was my thought as well
[12:37] {hawkfan4} :)
[12:38] {Threei} if they consider it right direction and push further...
[12:38] {wulff} stepping out for a while, feel free to rally while I am gone
[12:38] {Threei} ok... let's find a trade, quick
[12:38] {Threei} while cujo and wulff are out
[12:40] {dino} spike
[12:44] {dino} short lived
[12:45] {Threei} yeah but some life seems to appear in the market
[12:48] {Threei} watch RIMM
[12:48] {Threei} if we get fast spike in the market, RIMM break of .50 should give a trade
[12:52] {Threei} feels like little spike is coming
[12:55] {Threei} here it is
[12:55] {magoo} in aggress .41
[12:55] {Threei} lol, me too
[12:55] {magoo} scary
[12:56] {Threei} not really, it held above .35 before tagging .40 break
[12:56] {Threei} so worst case scenario your stop is under .30
[12:56] {Threei} unless you bought 5K shares, what's 12 cents stop
[12:56] {magoo} i meant us thinking alike
[12:56] {Threei} oh
[12:56] {Threei} yeah, disturbing
[12:58] {dino} out rimm .50, +.40
[12:58] {Threei} nice
[12:58] {Threei} lol, look at this:
[12:58] {Threei} SLE CEO: FIGHTING UNEXPECTED HEADWINDS
[12:58] {Threei} unexpected??
[12:58] {Threei} where was he last year or so?
[12:58] {larisa} liked your entry dino, perfect support with tight stop
[12:59] {Threei} yup, thing of beauty
[12:59] {magoo} yeah he nailed it
[13:00] {Threei} FEB NAHB HOUSING MARKET INDEX: 9 V 8E
[13:00] {Threei} wow... silver lining?
[13:01] {dino} ty larisa
[13:03] {nemo} Coax RIMM, would ya' Vad?
[13:04] {Threei} with .50 entry? or .40?
[13:04] {nemo} latter
[13:04] {nemo} err...former
[13:04] {Threei} I'd keep stop under .35
[13:04] {magoo} i scalped out
[13:04] {nemo} yep.
[13:04] {Threei} with .40, it was already above 1:1
[13:04] {magoo} didnt like mkt pullbk
[13:05] {KSystems} wb elepet
[13:05] {KSystems} can you spare a minute for dcc?
[13:05] {Threei} market new wave of seasickness
[13:05] {magoo} careful here
[13:05] {nemo} stopped -.14
[13:07] {Threei} why did we ever bother to cover CAT?
[13:08] {magoo} u mad us do it he he
[13:12] {cujo} back from the run
[13:13] {dino} brb
[13:19] {Threei} FAS is bottomless... doesn't look like market believe in salvation of financials
[13:20] {nemo} Put in an order for $2
[13:20] {magoo} faz is topless lol
[13:21] {Threei} what a couple
[13:22] {nemo} So, now that FAS is declared dead, does that mean we should go long?
[13:22] {Threei} declrared by whom?
[13:22] {nemo} well, falling..."bottomless"
[13:23] {Threei} yeah but didn't fall ultimately yet and hasn't reached that non-existing bottom
[13:23] {Threei} it's just sliding down slowly, no slightest indication of reversal
[13:26] {Threei} look at CEDC... people don't even want vodka anymore
[13:27] {elepet} hello. internet here is off and on and haven't been paying attention. just noticed message from KSystems. I don't know how to dcc.
[13:27] {Threei} IAEA'S EL BARADEI: IRAN REMAINS UNCOOPERATIVE WITH REGARDS TO RESOLVING QUESTIONS IN NUCLEAR PROGRAM
[13:27] {Threei} you should have a message from him elepet
[13:27] {nemo} so what's changed over the last 7 years with IRAN?
[13:28] {elepet} that is the message..to dcc him.
[13:28] {Threei} look for a button with his name on it
[13:28] {magoo} GS just pummeled
[13:28] {Threei} click on it to get into private chat window
[13:29] {Threei} WHITE HOUSE: IMPORTANT TO HAVE A 'STRONG AND VIABLE' AUTO INDUSTRY
[13:29] {Threei} {GM F}
[13:29] {Threei} ugh magoo
[13:29] {Threei} white house leaves us both in the dust as far as stating the obvious goes
[13:29] {Threei} - spokesperson says will not make a judgement ahead of time on whether a govt backed bankruptcy option is needed for the auto industry
[13:32] {Threei} BOE'S BESLEY: HARD TO KNOW HOW BIG A SPUR STIMULUS WILL BE FOR THE ECONOMY; FISCAL STIMULUS PACKAGES ARE NEEDED WORLDWIDE
[13:32] {Threei} how come whole world suddenly went keynesian??
[13:33] {nemo} Because it's handout based and big government
[13:33] {dino} obviously it is as nobody will loan auto industry money
[13:34] {dino} pre-packaged should have happened in dec., just wasted billions more
[13:34] {magoo} wopw spike
[13:35] {Threei} out of nowhere
[13:35] {Threei} this is exactly kind of things that keep me at bay for now
[13:36] {Threei} no news, no technicals
[13:36] {Threei} just spike
[13:37] {magoo} spikearolla
[13:39] {Threei} watch FAS for dive under .30 for a long scalp with stop under .20
[13:43] {Threei} didn't give a chance for entry
[13:44] {magoo} rimm slow to respond to spike
[13:45] {Threei} RIMM SEC CHARGES CO. AND 4 SENIOR EXECUTIVES WITH OPTION BACKDATING
[13:46] {nemo} HA! Guess we were contrarian indicators on FAS [13:22] {nemo} So, now that FAS is declared dead, does that mean we should go long?
[13:50] {dino} good thinking nemo
[13:50] {nemo} No one has ever accused me of that!
[13:50] {hawkfan4} lol
[13:52] {Threei} Long Setup: SQNM .36 half lot if stays above .20
[13:55] {larisa} vad, when you post news without stamp, is it always current?
[13:55] {Threei} yes
[13:55] {larisa} was nice alert on RIMM, did not know if it just out or not
[13:56] {larisa} ok, thanks
[13:56] {Threei} if it's old I post with date/stamp
[13:56] {larisa} i see
[13:56] {nemo} old like us, Vad?
[13:56] {Threei} and add "news earlier" unless I forget
[13:56] {Threei} which is often the case
[13:56] {Threei} RIMM crossed the wire at 13:44
[13:58] {fernp} my esignal crashed. triggered SQNM?
[13:59] {nemo} no fern
[13:59] {cujo} nope
[13:59] {Threei} no
[13:59] {fernp} ty
[13:59] {Threei} still hanging there
[14:03] {cujo} in .36
[14:04] {Threei} with this low on pullback, stop strictly speaking can be located under .25... higher odds of shakeout
[14:04] {Threei} let's do a compromises: if it tags .40, let's trail to under .25
[14:04] {_bobv} hi guys
[14:04] {Threei} hi bobv
[14:05] {Threei} trailed
[14:06] {dino} rimm sm l .90, risky
[14:07] {Threei} coming into 1:1
[14:09] {Threei} a few min ago:
[14:09] {Threei} RIMM
[14:09] {Threei} CONFIRMS SETTLEMENT WITH THE SEC
[14:09] {Threei} - RIM and four of its officers, Jim Balsillie, Mike Lazaridis, Dennis Kavelman and Angelo Loberto, have entered into settlements with the SEC that resolve the previously-disclosed SEC investigation of RIM''s historical stock option granting practices. RIM previously disclosed a management-initiated, voluntary review of its historical stock option granting practices that had commenced in 2006 and had been self-reported to the SEC and the Ontario Securities Commission
[14:09] {Threei} - In the settlement with the SEC that was filed today, RIM consented, without admitting or denying allegations in a complaint filed by the SEC
[14:09] {Threei} (GE) GERMAN GOVT HAS REPORTEDLY REACHED AN AGREEMENT TO PERMIT NATIONALIZATION OF CERTAIN BANKS - UNCONFIRMED REPORT
[14:09] {nemo} Ask K
[14:09] {Threei} hello comrades
[14:09] {Threei} comrade ksystems
[14:10] {nemo} comrade, brother, friend
[14:10] {Threei} where is comrade fernp
[14:10] {nemo} I don't know Comrade Vad
[14:11] {Threei} who else is from Europe, raise your hands... we will follow your steps very soon
[14:11] {Threei} so might as well start practicing now
[14:11] {nemo} All for the Rodina!
[14:14] {Threei} SQNM went 2 cents shy of 1:1
[14:14] {Threei} if you haven't sold any, trail stop to under .30
[14:14] {Threei} no need to risk anything more than a few cents anymore
[14:21] {magoo} vad..is there news GS?
[14:21] {Threei} no
[14:22] {magoo} ty
[14:22] {Threei} US FTC NOMINEE VARNEY: GOOG IS A 'MSFT TYPE' MONOPOLIST
[14:22] {Threei} uhhu
[14:23] {nemo} How's that? Just because yahoo can't get their feces assembled?
[14:23] {Threei} eqzaktly
[14:23] {nemo} It's not like they own the operating system. What an IDIOT!
[14:23] {Threei} Atlas Shrugged... almost page by page, line by line
[14:24] {Threei} "but GOOG must give others a chance"
[14:24] {nemo} Yeah, she was a little over the top, but she was a pretty good judge of where the revolution was going, that's why she left.
[14:24] {larisa} comrade GOOG
[14:24] {nemo} Fountainhead was great too
[14:30] {cujo} Vad, 29.10 break on CAT?
[14:31] {Threei} I don't have read on it here
[14:35] {magoo} vad, any news aapl?
[14:35] {Threei} no
[14:35] {Threei} why?
[14:35] {magoo} im just looking for candidates if mkt revcersed hard up
[14:35] {Threei} I don't see it doing anything
[14:36] {larisa} lol
[14:37] {larisa} market hopes Obama will say something nice ?
[14:38] {Threei} hmmm
[14:38] {magoo} well..i took .21
[14:41] {Threei} uncharacteristically narrow market today
[14:42] {magoo} out mkt ruined it
[14:42] {magoo} mad .50 area tho
[14:42] {Threei} after two morning trades all we go was couple scalps, and one either small scalp or small stop depending you type of entry
[14:42] {Threei} go = got
[14:43] {Threei} not that I am unhappy about this performance, but it's getting hard to keep eyelids open
[14:43] {nemo} Two shifts 9:30-11:00 Nap 2:00-4:00
[14:43] {cujo} yeah, that afternoon run helped.
[14:44] {cujo} still shaking off sleep....
[14:44] {Threei} shaking off sleep AFTER run?
[14:44] {Threei} my kind of running
[14:44] {cujo} ha ha
[14:44] {larisa} any news HIG vad {in best magoo voice}
[14:45] {dino} smoke 'em if you got 'em, out rimm .45, +.55
[14:45] {cujo} nice
[14:45] {larisa} gj
[14:45] {Threei} no but there was news on PRU which is affecting HIG:
[14:45] {Threei} S&P LOWERS RATING TO A FROM A+; OUTLOOK NEGATIVE
[14:45] {dino} ty
[14:45] {larisa} thanks
[14:47] {Threei} solemn signing of the bill if coming up
[14:47] {nemo} and FAZ is climbing...heheheh
[14:49] {nemo} The government should send us each a jar of vaseline
[14:50] {dino} probably cheaper to just mail $50k to everybody, rather than this joker plan
[14:50] {hawkfan4} i vote for dino's plan
[14:51] {nemo} You're more likely to get the vaseline
[14:51] {dino} no, they want it to hurt
[14:51] {nemo} Then they
[14:51] {nemo} send the #60 grit
[14:55] {larisa} so many angry people on TV. My friend in Russia owns TV station, his advice always : watch as little TV as you can :)
[14:56] {larisa} addicted to it though
[14:56] {Threei} me too... TV sound helps me fall asleep
[14:59] {Threei} FAS is back into low
[15:00] {Threei} feels like reakdown is coming
[15:00] {Threei} breakdown
[15:01] {Threei} as guys on TV praise solars, FSLR is -10 with change and trades at low
[15:02] {Threei} I see no single green solar
[15:02] {cosmo} GERN steady
[15:03] {cosmo} photosynthsis should be simple ....plants can do it for free
[15:04] {Threei} new low FAS
[15:05] {Threei} http://www.namastesolar.com/
[15:05] {Threei} The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.
[15:05] {nemo} wonder how much of today was fallout from the Japanese GDP report?
[15:06] {nemo} buddhist solar company...sheesh
[15:09] {larisa} they are installers, not manufacturers ?? :) 45 owner-employees company
[15:10] {cosmo} and they're napping now....
[15:10] {cujo} is it just me or does Obama soud like he's hostong a pep 'ally?
[15:11] {cujo} hosting
[15:11] {dino} bingo!
[15:11] {dino} a gree, like a clueless cheerleader
[15:11] {Threei} someone should tell them campaign is over
[15:12] {dino} exactly, stop the b.s. trpis
[15:12] {cujo} yeah
[15:12] {nemo} whaddya' figure the collective IQ of the audience to be?
[15:12] {cosmo} 100
[15:12] {nemo} generous...aren't you
[15:12] {Threei} hard for me with my 43, nemo
[15:12] {nemo} 43 squared-you mean
[15:13] {Threei} my dilemma:
[15:13] {dino} markets are saying bush's way better than obama spending; as bush's way was faster and infinitely less expensive
[15:13] {Threei} I want to short this market right now badly,
[15:13] {Threei} but can't tell whether it's real read or just a manifestation of what I think of this bill
[15:14] {nemo} I think this is from the Japanese GDP report. We would have gotten this yesterday
[15:14] {dino} it's all smoke and mirrors 3i, flip the coin
[15:15] {Threei} just feels like flush is coming
[15:15] {larisa} you think there will be reaction to signature ? market voted already
[15:15] {Threei} but I don't want to force any trade
[15:15] {Threei} no, not really larisa
[15:15] {cujo} depends which pen he uses larisa...
[15:15] {nemo} The signing was anti-climactic to the passage in Congress
[15:16] {Threei} there is no significance to act of signing itself
[15:16] {nemo} FAS continues to strengthen
[15:16] {dino} yeah, the typical reaction....down hard
[15:16] {nemo} "Congress's 31% approval rating highest in 2 years"
[15:17] {dino} lol, i do better on the family polls
[15:17] {Threei} really?
[15:17] {Threei} wow
[15:18] {Threei} out of 4 family members only cat votes for me
[15:18] {larisa} you are the one feeding her ?
[15:18] {Threei} AAPL
[15:18] {Threei} HEARING PIPER MAKING COMMENTS; NPD DATA CAME IN AT 'LOW END' OF EXPECTATIONS (TIMING UNCERTAIN)
[15:19] {Threei} I am the one who gives her favorite treat in the morning... 'cause I wake up before everyone else does
[15:19] {nemo} Ohoh...FAS heaed for low
[15:19] {nemo} headed
[15:19] {Threei} AAPL sells down hard
[15:20] {nemo} this is gonna' be close
[15:20] {Threei} WFC
[15:20] {Threei} HEARING DEALREPORTER MAKING CAUTIOUS COMMENTS; CITES UNDERESTIMATION OF WACHOVIA'S FUTURE LOSSES
[15:20] {nemo} FAS held
[15:23] {nemo} ohoh
[15:23] {Threei} here comes flush
[15:23] {nemo} Should we ask Mrs. Lincoln about the play?
[15:23] {larisa} why he uses different pens ? tradition ?
[15:24] {nemo} He gives pens to different people as mementos
[15:24] {larisa} sigh
[15:24] {wulff} and his finger are sticky
[15:24] {nemo} why?
[15:24] {Threei} I feel stimulated
[15:25] {larisa} lets rally!
[15:25] {nemo} why?
[15:25] {nemo} who said th "R" word!!!
[15:25] {Threei} oh wait... it's just magoo shared one of his favorite websites with me
[15:25] {nemo} I don't want to know
[15:25] {nemo} I'm closing my eyes
[15:26] {nemo} Not listening....
[15:27] {Threei} what was the Nov low for DJI?
[15:27] {larisa} 7400 something
[15:27] {nemo} 68 somethin'
[15:28] {larisa} lol
[15:28] {hawkfan4} 7460
[15:28] {dino} 7449.38
[15:28] {larisa} we need dino he always knows
[15:28] {larisa} :)
[15:28] {nemo} I thought it went below 7000 intraday
[15:28] {Threei} we are just 120 points away
[15:28] {dino} ndx 1018.86
[15:28] {dino} s/p 741.02
[15:29] {Threei} two ways to view it:
[15:29] {Threei} one is obvious,
[15:29] {dino} right or wrong
[15:29] {Threei} we are so close to this magnet, we are boundf to tag and break it
[15:29] {Threei} yes dino :)
[15:29] {Threei} another is,
[15:29] {dino} as livermore would say, if wrong, only one thing to do...get right
[15:29] {Threei} it's so obvious and so many are calling for it, we will turn around here and rally
[15:30] {dino} well then, giddy-up
[15:31] {magoo} man vad
[15:31] {magoo} look
[15:32] {dino} out gild .30, +.40
[15:33] {dino} all day
[15:33] {fernp} gj dino
[15:34] {dino} ty, spike helped
[15:34] {Threei} let's try to catch this pullback
[15:34] {dino} welol, all in all, 4 for 4
[15:34] {Threei} RIMM closer to .15 - .20
[15:35] {_bobv} jeez
[15:36] {Threei} same for FAS
[15:36] {cosmo} GERN gonna test 6.66
[15:37] {cosmo} hod
[15:38] {larisa} scalped 15 cents on HIG, somehow does not feel like r word
[15:38] {larisa} :(
[15:39] {magoo} very iffy here
[15:42] {Threei} PRESIDENT OBAMA ORDERS 10,000 TROOP INCREASE FOR AFGHANISTAN
[15:43] {Threei} get ready FAS if you are in the mood for one more play
[15:44] {larisa} nice :)
[15:44] {nemo} when it touched the Bollinger band?
[15:45] {Threei} who took it, feel free to exit
[15:45] {Threei} missed RIMM
[15:45] {magoo} me too
[15:45] {Threei} hit my bounce level to the cent too
[15:46] {wulff} great call
[15:46] {Threei} ty
[15:46] {cujo} yeah, got the fas
[15:46] {Threei} :)
[15:46] {cujo} thanks Vad
[15:46] {Threei} sure
[15:47] {Threei} Ok guys, I want to quit now while we are solidly ahead
[15:47] {Threei} one stop today?
[15:47] {Threei} 4 or 5 wins
[15:48] {Threei} not bad for this miserable market
[15:48] {larisa} good leadership by you today :)
[15:48] {Threei} yeah, I am reading Tao of Leadership, lol
[15:48] {hawkfan4} nice job Vad
[15:48] {cujo} yup. good day. Catch you all tomorrow.
[15:48] {Threei} thank you all
[15:48] {Threei} have a good evening
[15:49] {larisa} see you
[15:49] {Threei} see you for new bailouts tomorrow
[15:49] {vint} thanks vad
[15:49] {nemo} P&Q
[15:49] {dino} gj room
[15:54] {magoo} thanx vad
[15:54] {magoo} ty all
[15:54] {magoo} tough mkt imo..but we navigated well
[15:56] {patience} one trade hgu +1.78 bought it again before the close, will play it for as long as its got momo
[15:57] {dino} gj
[15:57] {patience} ty dino, will do some buying this week i think
[15:58] {dino} same
[15:58] {fernp} good evening everyone
[15:58] {patience} crude shorts are ready to get whacked
[15:58] {dino} we should get exp. up 200 one day this week
[16:01] {dptl} gn all
