Tuesday, February 17, 2009

Feb 17 2009

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