Mar 04 2009

Nice and strong day. Longs on STT, CAT (yes, that's right, CAT, after two weeks of shorting it daily), RIMM, AAPL worked nicely. A few stops of 10-15 cents magnitude could spoil the day with gainst up to 50 cents.

 

Session Time: Wed Mar 04 00:00:00 2009

[07:56] {magoo} morning

[07:57] {Threei}  Good morning

[07:57] {magoo} hi boss

[07:57] {fernp} morning all

[07:57] {Threei}  magoo, fern :)

[07:58] {magoo} vad, any recent news goog?

[08:00] {Threei}  03/04/09 06:04am

[08:00] {Threei}  [GOOG] Google Inc Price Target lowered to $420 from $440 at BofA/Merrill Lynch, maintains Buy rating

[08:00] {Threei}  - Firm discloses: it is becoming increasingly unlikely that Google will see a positive stabilization in the business in 1H09.

[08:00] {Threei}  - Firm discloses: While we think pressure is macro driven and that Google will have better EPS resiliency than the sector as a whole, our 09 EPS outlook was too optimistic. We are lowering 1Q to -6% sequential revenue growth from -2%, and 1Q adj. EPS to $4.77 from $5.08. We are lowering 2009E y/y revenue growth to 5% from 9%, and EPS by 4% to $20.35 from $21.25 (street at $21.07).

[08:07] {nemo} Hi Folks

[08:07] {Threei}  morning nemo

[08:10] {nemo} Anybody having trouble logging into LASER?

[08:11] {Threei}  ok here

[08:13] {magoo} i got right in

[08:13] {magoo} try a reboot

[08:15] {magoo} slighly worse job numbers

[08:19] {nemo} I defragged the RAM, that did it.

[08:21] {Threei}  FED'S HOENING: FED MUST REVERSE LOOSE MONETARY POLCY IN A TIMELY FASHION TO AVOID INFLATION, INFLATION SHOULD BE THE FOCUS OF FED POLICY AND NOT DEFLATION

[08:21] {Threei}  - Notes that the Fed must tighten its monetary policy 'well before' the economy has recovered

[08:22] {Threei}  sheesh.. will they agree on something finally

[08:22] {Threei}  FEB ADP EMPLOYMENT CHANGE: -697K V -630KE (LOWEST READING ON RECORD)

[08:22] {Threei}  - Prior month revised Lower from -522K to -614K

[08:23] {cosmo} just let the people refinance their loans ....geez

[08:24] {nemo} Moral hazard dude...you let them refinance on an asset that is worth less than the loan, they're likely to walk away

[08:24] {cosmo} not all

[08:25] {Threei}  not sure I get the logic...

[08:25] {cosmo} some would see the opportunity

[08:25] {cosmo} ... in time

[08:25] {Threei}  you don't let them refinance, they will HAVE to walk away

[08:25] {Threei}  you let the refinance, some will stay

[08:25] {nemo} It's the same with AIG, you just keep pouring debt, not money, down a rathole

[08:25] {Threei}  those who are not badly underwater

[08:26] {cosmo} others would be able to hold onto tenents that can't pay rent....that kinda thing...

[08:26] {nemo} What %, you still have to deal with the New Debt of all those who do leave after refinancing.  Already, over 60% of recently refinanced distressed mortgages are either in arrears or default

[08:27] {nemo} then you have to write that debt off again.  So, you write off the old debt, create new debt, and have to write it off again, all the while increasing the debt default pile

[08:27] {cosmo} it was a ponzie skeem, ya know

[08:28] {nemo} The financial system is a ponzie scheme

[08:28] {Threei}  well, by refinancing you simply rolling the debt over, not create new, right? While by refusing to refinance you force out those who can and intend to pay

[08:29] {nemo} Yes, but what you do is continue the illness by infecting new paper with it

[08:29] {nemo} I'm not saying what to do, I'm just saying the pathology will continue

[08:29] {cosmo} yea ... cut the interest in half on all those fictitious dollars... it'll work out

[08:30] {cosmo} in time

[08:31] {nemo} Yes, but you have to have the ability to continue financing debt

[08:31] {cosmo} and we learn that the hard way.... one more time

[08:32] {nemo} We never learn...that's what makes us human

[08:32] {cosmo} that's what makes us eternal....but....i need coffee

[08:33] {Threei}  [UAUA] UAL Corp Reports Feb load factor 73.2% v 74.2% y/y v 75.2% m/m

[08:33] {Threei}  - RPMs: -15.2% y/y, -11% m/m

[08:33] {Threei}  - ASM: -14% y/y, -8.2% m/m

[08:37] {Threei}  REPORTEDLY OPEC PRESIDENT NOTES HE OPPOSES ADDITIONAL SUPPLY CUT AT THE MOMENT; OTHER MEMBERS UNDECIDED

[08:38] {nemo} That would be putting fuel on the fire, or stepping on the head of a drowning man

[08:41] {Threei}  supply cut you mean?

[08:41] {nemo} yes sir

[08:42] {Threei}  well... as long as cuts are within excess of demand, they are mostly irrelevant... question is whethere they dare to start cutting beyond that

[08:43] {Threei}  that would require serious cooperation between them... something they are not famous for

[08:44] {nemo} I posit that it's at whatever level it begins to affect the futures, which is the basis on which we pay...I agree, they're getting to the "throw the women and children overboard, every man for himself, stage."  

[08:50] {dino} gm all

[08:50] {Threei}  dino :)

[08:51] {dino} :)

[08:51] {pita} gm everyone, is it a new day?

[08:51] {Threei}  ummm... looks like

[08:53] {dino} indeed pita

[08:53] {dino} i have been off w/gut calls lately, so lets call for -250 today and see what happens

[08:54] {cosmo} babies ....bathwater...everywhere.....now if PALM closes green today ...there might be some hope

[08:54] {Onix} gm all

[08:54] {Threei}  onix :)

[08:54] {Threei}  PALM posted nasty guidance yesterday after hours

[08:54] {cosmo} perfect

[08:54] {cosmo} classic

[08:55] {Threei}  [16:30] {Threei} REPORTS PRELIM Q3 R$85-90M V $158ME

[08:55] {Threei}  [16:32] {Threei} - The revenue declines vs. the companys Q2r of fiscal year 2009 and Q3 of fiscal year 2008 are the result of reduced demand for Palms maturing legacy smartphone products, the challenging economic environment and later-than-expected shipments of the Treo Pro in the United States.

[08:55] {Threei}  [16:32] {Threei} - The company expects declining revenues and continued margin pressure from its legacy product lines in the fiscal Q4

[08:55] {Threei}  let me point UAUA once again as day trade candidate for the strong day

[08:55] {dino} took aapl and rimm down w/it afterhours, but they are now up. perhaps palm specific

[08:55] {Threei}  day trade as opposite to scalp

[08:56] {cosmo} hmmm.... at least its possible

[08:57] {dino} uaua traffic fell 15% feb. fwiw

[08:57] {Threei}  yeah, I posted earlier

[08:58] {dino} ok, sorry

[08:58] {cujo} morning all

[09:00] {geo} good morning

[09:00] {Threei}  cujo, geo :)

[09:01] {cujo} Something going on with HIG

[09:01] {cujo} up 14%?

[09:01] {Threei}  03/03/09 11:50pm

[09:01] {Threei}  [HIG] The Hartford Financial Services Group Inc Reportedly, may divest most of its loss making life unit; had separate discussions with Metlife which ended in Feb

[09:01] {Threei}  - May seek to sell life unit to Canada's Sun Life.

[09:01] {dptl} good morning all

[09:01] {Threei}  dp :)

[09:01] {cujo} ah

[09:03] {cosmo} it's loss making life....sheesh

[09:07] {ese} morning

[09:07] {Threei}  ese :)

[09:08] {cosmo} CAT comes back from the dead ...one more time

[09:08] {ese} hey ya vad

[09:09] {Threei}  DRYS strong bounce

[09:09] {nemo} bilge pumps must be working

[09:10] {magoo} keep eye on RIMM..was strong in poor mkt..if mkt ally today could go

[09:10] {nemo} Mags...Larisa's not here

[09:11] {Threei}  RIMM gap is too big, need pullback or consolidation

[09:14] {nemo} HIG big jump this mornin'

[09:14] {magoo} lets kewep open mind to short FAZ if it pops back up..and mkt decides to run

[09:14] {magoo} like 100 shares for 8 points

[09:14] {Threei}  you can't short FAZ

[09:14] {cujo} you can buy GAS

[09:14] {magoo} SIGH

[09:14] {cujo} FAS

[09:15] {nemo} FAZ looks like it might jump at open

[09:15] {magoo} well fas doesnt move 

[09:15] {pita} FAS popped big yesterday only to sell off all day

[09:15] {dino}   lucked out on fdo afterhours, out +1.00

[09:15] {nemo} FAS moves, just have to play enough shares

[09:16] {magoo} as in how mucjh?

[09:16] {Threei}  US TREASURY: SERVICERS CAN BEGIN MODIFYING MORTGAGES IMMEDIATELY

[09:16] {magoo} movemt i mean?

[09:16] {nemo} It's jumpe 7% this morning

[09:16] {magoo} nah..i mean pointts}?

[09:17] {Threei}  mags... let's do the math

[09:17] {nemo} heheheheheh

[09:17] {Threei}  100 shares for 8 points as you target on FAZ is 800 bucks

[09:18] {Threei}  FAS can move 20 cents easily and just as quickly when it moves, right?

[09:19] {magoo} um...carry the two..plus 1 =?

[09:19] {nemo} By 2000 shares of FAS mags

[09:19] {magoo} in this decent to hell..my parameters are set up to max shares of 1k

[09:20] {magoo} so not buying 2k

[09:20] {cosmo} PALM pre mkt high = 7.04   ....should hold 6.90

[09:20] {nemo} well, think about this, you buy 100 shares FAZ for 7200, 1000 shares of FAS for 4100-change parameters

[09:21] {nemo} Vad can answer this more confidently, but if it's about managing the risk, it almost doesn't matter how many shares you buy as long as you maintain your stops

[09:22] {ese} correct

[09:22] {magoo} true

[09:23] {magoo} but mkts been spikey..so a 30 cent drop on 2k =600...

[09:23] {magoo} harder to control in this environmt is all saying

[09:24] {pita} Vad, watch list?

[09:25] {cosmo} PALM looks testy

[09:25] {nemo} I agree...but it's about probabilities of maintaining support and resistance.  FAZ will range about $1, so if you risk $300 a trade, you can buy 300 shares.  FAS ranges about $.15, so that's 2000 shares to risk $300...Are my calculations wrong Vad?

[09:26] {Threei}  UAUA, DRYS, HIG, STT, RIMM

[09:27] {wulff} I have no time to trade today, but wanted to say have a better day. 

[09:27] {nemo} full moon wulff?

[09:27] {wulff} full job

[09:28] {Threei}  ty weulff

[09:28] {wulff} am long FAS

[09:28] {vint} good morning all

[09:28] {Threei}  vint :)

[09:29] {dino} ty wulff

[09:29] {cosmo} open breaks maybe

[09:30] {ese} egle following DRYS

[09:31] {elepet} Good morning all.

[09:31] {Threei}  elepet :)

[09:32] {Threei} Long Setup:  STT  .25 if stays above 22

[09:32] {Threei}  half lot

[09:33] {Threei}  CEDC

[09:33] {Threei}  HEARING SHARES RAISED TO OUTPERFORM AT AVONDALE, PRICE TARGET $12 (TIMING UNCERTAIN)

[09:33] {Threei}  - likely pre-open

[09:34] {cujo} in

[09:34] {nemo} blew right by

[09:34] {magoo} in

[09:34] {magoo} ,26

[09:34] {ese} MANT dino?

[09:34] {dino} still in from yesterday

[09:34] {Onix} missed

[09:34] {dino} cedc

[09:35] {Threei}  over 1:1, half out

[09:35] {Threei}  scalpers know what to do

[09:35] {dino} feels little different today, more power

[09:35] {Threei}  true

[09:36] {dino} mcd lags

[09:36] {dino} wmt too

[09:37] {Threei}  UAUA... just had to believe

[09:37] {Threei}  over 1:2 STT

[09:37] {Threei}  full out

[09:37] {dino} vz .00 trig l sm

[09:38] {Threei}  +.50

[09:38] {magoo} out .77 TY VAD

[09:38] {Threei}  welcome

[09:38] {cujo} thanks Vad. 

[09:38] {Threei}  :)

[09:38] {buyemsellem} nice call

[09:38] {Threei}  UAUAstrong pullback

[09:39] {geo} all energy stocks ripping

[09:39] {pita} entry UAUA?

[09:39] {Threei}  impossibvle to call in time, sorry

[09:39] {cujo} thanks Vad

[09:39] {cujo} got some UAUA

[09:39] {pita} too wild

[09:39] {Threei}  got .40, sold .63

[09:39] {cujo} .55 out .69

[09:40] {Threei}  good reflexes

[09:40] {Threei}  see, if teleprts in 4.20 area for another scalp

[09:41] {dino} apol, esi

[09:41] {dino} sm l apol .00 risky

[09:42] {ese} L 200 MANT .39

[09:42] {Threei}  STT did the same, pulled right into trigger and bounced... missed that

[09:42] {dino} apol stop to .49

[09:42] {magoo} yeah..big pullbk

[09:42] {cujo} nice trade dino

[09:43] {dino} out +.43 slip

[09:43] {dino} ty

[09:43] {dino} jumpy sucker

[09:43] {Threei}  if UAUA dives from here, let it overstretch

[09:44] {Threei}  desirably into 4 area

[09:44] {elepet} question. still jetlagged and reflexes slow.  i missed original stt. if it goes back to original trigger do i buy?

[09:44] {Threei}  no, not anymore

[09:44] {Threei}  it made lower high so far

[09:46] {cujo} HIG pullback?

[09:46] {Threei}  getting interesting

[09:46] {ese} out mant .80

[09:46] {ese} +.41

[09:47] {Threei}  not ready yet

[09:47] {dino} gj

[09:47] {ese} tks dino

[09:47] {cujo} nice trade ese

[09:48] {Threei}  not sure on entry on HIG

[09:48] {dino} re-load es?

[09:48] {Threei}  kind of hectic here

[09:48] {cujo} yes

[09:48] {dino} -15 points in 4 days

[09:51] {cujo} HIG held up well vs mkt downtick here

[09:51] {dino} opening gaps 

[09:51] {pita} STT?

[09:51] {Threei}  let it drop more

[09:51] {pita} diving

[09:51] {nemo} yeah, might have another .60 down

[09:52] {nemo} HIG that is

[09:53] {Threei}  HIG is on watch for double bottom here

[09:54] {Threei}  if market resumes up, the play is most likely to look like .76 long with stop under .65

[09:54] {Threei}  ugh... late

[09:54] {Threei}  don't chase

[09:54] {geo} in .75

[09:54] {Threei}  :)

[09:55] {Threei}  now next market move will define its destiny

[09:55] {magoo} .75 here

[09:56] {magoo} more than a scalp vad?

[09:56] {magoo} over 5 i mean

[09:56] {Threei}  if goes as planned, likely to spike into 5

[09:57] {geo} had sell on .85... didnt get hit

[09:58] {Threei}  yeah, it barely touched it

[09:58] {geo} out

[09:58] {geo}  wy

[09:58] {geo} oops

[09:59] {Threei}  GE, what a collapse

[09:59] {dino} pattern has been fill the open gaps fwiw

[09:59] {magoo} STT vads..u following'

[10:00] {geo} DJ reports GE Capital credit default swaps continue to deteriorate into levels usually seen for distressed companies.

[10:00] {Threei}  yeah but I don't see a play on it here

[10:00] {cosmo} CAT nice bounce

[10:00] {Threei}  FED'S FISHER: HOLD THE MOST 'PESSIMISTIC' OUTLOOK AMONG OTHER FOMC MEMBERS; MAY HAVE TWO YEARS OF BAD GROWTH BACK TO BACK

[10:00] {Threei}  FEB ISM NON-MANUFACTURING COMPOSITE: 41.6 V 41.0E

[10:03] {dino} think we already had 2 years bad growth

[10:07] {Threei} Long Setup:  GE  .41 if stays above .30

[10:08] {cujo} invalid?

[10:08] {Threei}  if market spikes, I'd modify it

[10:08] {Threei}  .31 long with stop under .20

[10:09] {Threei}  if loses .20, leave it be for a steep selloff

[10:13] {ese} up beat market mood declining to pessimisim like yesterday

[10:13] {Threei}  CAT sharp dive into 24 - 24.20 zone will be interesting for a bounce scalp

[10:15] {nemo} Interesting....I had a subscription to a Chinese Investment newsletter...I keep track of the portfolio...Every stock in that portfolio has been in the green for the last two days

[10:17] {dino} ge 5s

[10:17] {nemo} HIG spiked down to the gap

[10:18] {nemo} When's the prez speak today?

[10:18] {Threei} Long Setup:  CAT  .12 if stays above 24

[10:18] {nemo} missed

[10:19] {elepet} in .12

[10:20] {dino} fas 52 week low

[10:21] {geo} out half .25

[10:21] {Threei}  half out .25

[10:21] {Threei}  Prez on TV

[10:21] {geo} crap

[10:21] {Threei}  your daily dose

[10:21] {geo} that dude needs to end his love affair with the tube

[10:21] {nemo} like my prediction

[10:22] {fernp} ty Vad

[10:22] {Threei}  fern :)

[10:22] {geo} out

[10:22] {geo} TY vad

[10:22] {Threei}  full out?

[10:22] {geo} yeah.... protecting morning gains

[10:22] {geo} and loose lips on tv again

[10:22] {dino} [09:59] {dino} pattern has been fill the open gaps fwiw

[10:23] {Threei}  come on... thing can go to to .40 - .50 zone in one blink, why not leave just 1/4

[10:23] {geo} booohooohoo

06[10:23] * geo whips himself

[10:25] {dino} cracks me up, jack welsch ge hero, when he was there when this crap got put on books

[10:25] {Threei}  out 1/4 more .39

[10:25] {dino} got out when getting was good

[10:25] {dptl} out cat ty....something ++ not counting

[10:25] {Threei}  out in full .46

[10:25] {geo} we can say the same for rubin weil oneal

[10:25] {Threei}  dp :)

[10:26] {geo} sigh vad.....

[10:26] {geo} happy fingers

[10:27] {dptl} did 5 cat trades today......5 out of 5 :)

[10:27] {dino} ge pushing skf up

[10:27] {Threei}  what can I say... if we started making money in CAT on a LONG side...

06[10:27] * Threei slaps dptl around a bit with a large roll of cash

[10:27] {dino} gj dp

[10:27] {dptl} :) ty

[10:27] {Threei}  24.20 breakout in the morning is my burning shame

[10:27] {geo} hmm

[10:27] {geo} kinda obvious in hindsight

[10:27] {cosmo} looks like CAT is not a defence contractor after all

[10:27] {geo} tch tch

[10:28] {buyemsellem} thanks vad on the cat great call

[10:28] {dptl} thats what i got in the morn 24.20 Vad

[10:28] {Threei}  buyem :)

[10:28] {Threei}  well... I am ashamed I missed that but proud I taught you well {G}

[10:28] {dptl} yes you did :)

[10:29] {Threei}  PIMCO'S WILLIAM GROSS: SPEAKS ON MOVEMENT OF GE SHARES -CNBC

[10:29] {Threei}  - States that market has priced in a downgrade of ratings from AAA, this cut would force certain institutional holders (including sov wealth funds) to limit their exposure

[10:29] {Threei}  - Selling remains forced and techincal

[10:29] {Threei}  - Reiterates that GE is not 'another AIG'

[10:29] {Threei}  now, when you start sharing this kind of things, I can retire, lol

[10:29] {cosmo} but it does defense work

[10:29] {cosmo} ge that is

[10:29] {geo} umm dptl... dont share

[10:30] {Threei}  GE

[10:30] {Threei}  CAPITAL RAISE SPECULATION

[10:30] {Threei}  DENIES CAPITAL RAISE AS "SPECULATION"

[10:30] {dino} dltr sm l .30

[10:34] {dino} yes cosmo, but defense is not a growth industry under obamination

[10:34] {dino} needs to split in two

[10:34] {cosmo} hmmm

[10:35] {Threei}  I wonder if anything is

[10:36] {Threei}  call me simpleton, but here is the way I see it

[10:36] {cosmo} not at first...

[10:36] {Threei}  you raise taxes on things you render undesurable and as a result you get less of those things

[10:36] {Threei}  you subsidize things you want and as a result you get more of those

[10:36] {Threei}  so

[10:37] {Threei}  during the worst market in decades we raise capital taxes

[10:37] {Threei}  during worst job market in decades we raise taxes on people who create 75% of jobs

[10:37] {cujo} yeah, doesn't seem like sound reasoning

[10:37] {Threei}  and during the worst mnaufacting/cnsumer market in decades we plan to impose artifically raised price on energy

[10:38] {cosmo} also, unused farmland rings a bell 

[10:38] {Threei}  and we are showering money of failing companies and industries

[10:38] {Threei}  whatever reasoning is behind this, the result will be the same

[10:38] {cosmo} just to keep them on overhead....sigh

[10:39] {dino} dna sm l .05

[10:39] {Threei}  you can't overrule narture laws

[10:39] {Threei}  and stimulation or suppressing of certain behavior by the means of taxation will work by those laws

[10:40] {Threei}  so... forgive me for not being convinced

[10:41] {Threei}  ok... little pullback, then next leg up

[10:41] {cosmo} have unused ag land grow hemp i say

[10:41] {Threei}  watch RIMM for pullback into .70 area

[10:41] {Threei}  for long entry

[10:42] {Threei}  CAT seriously overshot our exit area

[10:42] {Threei}  ohg well

[10:43] {Threei}  we got a good move out of it, I am not ready to hold for hours just yet

[10:44] {Threei}  quite shallow pullback RIMM

[10:44] {Threei}  I would still prefer pullback over break, but if market spikes...

[10:44] {Threei}  .85 closest support so far for a stop placement

[10:45] {Threei}  with 40 break being obvious trigger

[10:45] {Threei}  (US) TREASURY SEC GEITHNER: REMAINS OPEN TO OTHER METHODS TO REFORM HEALTH CARE

[10:45] {Threei}  yeah, that's your first priority right now timmy

[10:46] {cosmo} fill up that "B ship" maybe

[10:47] {dino} wow apol pullback

[10:48] {Threei}  - Toxic debt plan is coming in next few weeks

[10:48] {Threei}  - Details of public/private program due in next few weeks as well

[10:48] {Threei}  market is shaping up for a stronger upward push but talking heads need to shut up

[10:48] {Threei}  and we had just one speech so far

[10:48] {dptl} in rimm .03

[10:48] {Threei}  so market anticipates couple more

[10:49] {Threei}  dino, on APOL

[10:49] {Threei}  WEAKNESS BEING ATTRIBUTED TO CITRON RESEARCH'S CAUTIOUS COMMENTS (TIMING UNCERTAIN)

[10:49] {Threei}  that's former stocklemon

[10:49] {Threei}  shorting outfit

[10:50] {geo} sniff

[10:50] {dptl} stopped rimm

[10:50] {cujo} stoppage on the rimmage

[10:51] {geo} rinse?

[10:51] {dino} cnbc this a.m. said he's been short it for two years. i wonder way they did not say it has tripled in two years?

[10:52] {dino} thats that "tough, in depth" reporting

[10:53] {Threei}  grr

[10:53] {Threei}  shake

[10:53] {geo} yup

[10:53] {cosmo} CAT wants more though

[10:53] {cosmo} ....sorry

[10:53] {magoo} STT vad

[10:55] {dawg} Thanks magoo on STT another order of bacon for you

[10:56] {magoo} :)

[10:56] {magoo} .30 cents off mnmention'

[10:56] {dawg} yessir

[10:57] {magoo} dunno wjhere vad went

[10:57] {geo} :)

06[10:57] * Threei slaps magoo around a bit with a large trout

[10:58] {magoo} can u change that to slab oof bacon

[10:58] {dawg} two slabs coming right up

06[10:58] * Threei slaps magoo around a bit with a large slab of bacon

[10:58] {magoo} ty

[10:58] {Threei}  but fish is good for you too

[10:58] {Threei}  not as good as bacon admittedly

[10:59] {cosmo} its a good use for bacon

[10:59] {magoo} GE vad

[11:01] {Threei}  (UK) PM BROWN: SEEKING TO GAIN COOPERATION TO LOWER OFFSHORE TAX HEAVENS

[11:01] {cosmo} underwater?

[11:01] {geo} ok rimm paid back

[11:02] {Threei}  took it on pullback?

[11:02] {geo} y

[11:02] {geo} and spy was rising

[11:02] {magoo} damm STT

[11:03] {cosmo} our first obamarally?

[11:03] {Threei}  you mean despite?

[11:04] {cosmo} thinking...

[11:04] {Threei}  careful

[11:04] {cosmo} yea

[11:04] {Threei}  serious headache ensues

[11:04] {cosmo} i use imitrex

[11:05] {geo} target .5 on rimm vad?

[11:05] {dino} dltr stop to .69

[11:05] {Threei}  market dependent geo

[11:05] {dino} mant es, falling

[11:05] {Threei}  can go much higher just as well

[11:06] {dino} dltr tyo .79

[11:06] {dino} to

[11:07] {geo} half out .51 RIMM

[11:07] {dino} out dltr .79, +.49

[11:08] {dino} apol whoosh in the making

[11:08] {Threei}  tempted to short it but volatility is horrific

[11:10] {Threei}  DRYS... resurrectio?

[11:10] {cujo} ruptura?

[11:11] {Threei}  let's try small shares APOL .70 breakdown?

[11:12] {cujo} stop .00?

[11:12] {Threei}  if stays below 70

[11:12] {Threei}  invalidated

[11:13] {Threei}  sigh of relief

[11:13] {Threei}  lopl

[11:14] {dino} you wanted to short apol?

[11:14] {Threei}  yeah

[11:14] {Threei}  still do, but can't find a reasonable entry

[11:14] {dino} waiting long at 68.41

[11:17] {dino} cgrb

[11:18] {Threei}  USD/CAD

[11:18] {Threei}  RBS: USD MAY APPRECIATE IN THE NEXT COMING MONTHS

[11:18] {Threei}  yes please

[11:19] {dino} nooooooooo

[11:20] {Threei}  come on dino... against CAD only

[11:20] {Threei}  don't care about anything else

[11:20] {cujo} u trade forex vad?

[11:20] {Threei}  no

[11:20] {Threei}  I live in Canada :)

[11:21] {Threei}  and making money in USD, converison to weaker CAD adds significantly

[11:21] {geo} comeon vad be patriotic

[11:21] {Threei}  I am

[11:21] {geo} CAD should be the strongest !!!

[11:21] {Threei}  weak CAD is good for Canada

[11:22] {Threei}  its rally killed maufacturing

[11:22] {geo} i mean hollywood patriotic

[11:22] {cosmo} we be financial patriots, i thought

[11:23] {geo} choppy pnl so far

[11:23] {magoo} about today..what copncerns me is 13 out oif 14 sessions we tank 100 - 300 points

[11:23] {magoo} today cant even get 140 up

[11:24] {magoo} mkt still 6850 area

[11:24] {Threei}  so we are still in downtrend

[11:24] {Threei}  not really breaking news

[11:24] {Threei}  enjoy bounce while it lasts

[11:24] {magoo} yup..BUT...we do not get the equivalant up like we used to

[11:25] {magoo} remember down 500...then up 500

[11:25] {Threei}  yes... see,

[11:25] {Threei}  that was the moment when market felt like bottoming out

[11:25] {Threei}  and huge volatility reflected that

[11:25] {magoo} like 9000 area i think

[11:25] {Threei}  Since then situation changed

[11:25] {Threei}  market doesn't like cujrrent policies,

[11:26] {Threei}  does't feel there is a business-friendly climate in works

[11:26] {Threei}  and doesn't see serious measures cacpable of turning things around being implemented

[11:26] {Threei}  So it votes by establishing downtrend

[11:27] {Threei}  and weakness of the bounces just reinforces it

[11:27] {geo} we dont like onix anymore

[11:27] {geo} ?

[11:28] {geo} j/k

[11:28] {Threei}  not when he misspelss his own username

[11:28] {geo} heheh

[11:28] {Threei}  miOnix? :)

[11:28] {geo} its like he was talking to mirc

[11:28] {geo} me onix

[11:28] {Threei}  lol

[11:31] {Onix} kicked out, but i'm back!:D

[11:32] {Threei}  for your entertainment Onix:

[11:32] {Threei}  [11:27] {geo} we dont like onix anymore

[11:32] {Threei}  [11:27] {geo} ?

[11:32] {Threei}  [11:28] {geo} j/k

[11:32] {Threei}  [11:28] {Threei} not when he misspelss his own username

[11:32] {Threei}  [11:28] {geo} heheh

[11:32] {Threei}  [11:28] {Threei} miOnix? :)

[11:32] {Threei}  [11:28] {geo} its like he was talking to mirc

[11:32] {Threei}  [11:28] {geo} me onix

[11:34] {Onix} you wanna make me cry :P

[11:35] {geo} nice PBR JBE

[11:37] {Threei}  things slowed down

[11:44] {dino}  pbr's haven't had in awhile, should grab a case

[11:45] {geo} :)

[11:46] {dino} kind of a spring time thing for me, that and schaeffer (as its the one to have when having more than one)

[11:48] {dino} mant sm risky l .01

[11:48] {dino} apol lod

[11:49] {magoo} we in anything??

[11:51] {Threei}  APOL down a dollar from that trigger

[11:51] {Threei}  too bad it invalidated

[11:52] {dino} mant stop is .72 fwiw

[11:52] {dino} stopped

[11:55] {Threei}  STT formed nice resistance to break at .50

[11:55] {Threei}  if market spikes sharply, aggressive entry in order

[11:57] {Threei}  got .41

[11:57] {Threei}  stop under .30

[12:01] {dptl} in.43

[12:03] {Threei}  no go

[12:03] {cujo} stoppage

[12:03] {dptl} stopped

[12:03] {fernp} stopped

[12:03] {dawg} stopped

[12:03] {Onix} i like that yellow CAT much better than STT

[12:06] {dino} mant big rinse

[12:13] {Threei}  US TREASURY SEC GEITHNER: MORTGAGE RATE AND TREASURY SPREADS NEED TO DECLINE

[12:13] {dino} v sm risky wide apol l .30

[12:16] {nemo} shortt STT below 20?

[12:16] {nemo} 22

[12:16] {Threei}  ssmallish shares

[12:16] {geo} wow flush

[12:18] {dino} esi coming into support 

[12:19] {Threei}  1:1 STT short

[12:20] {dino} gj

[12:21] {Threei}  CAT is amazingly strong

[12:25] {nemo} have to believe in my calls...scalped for very small shares

[12:25] {Threei}  yeah, hit 1:2

[12:26] {nemo} CAT decided to roll over a bit

[12:28] {Threei}  .11 long CAT for a scalp

[12:28] {Threei}  stop is obvious

[12:29] {nemo} in

[12:29] {magoo} 25.97?

[12:30] {Threei}  loss of 26

[12:30] {magoo} ok..just wanted to see if i srtill had any common sense

[12:32] {nemo} kick the frickin' cat

[12:33] {Threei}  can't

[12:33] {Threei}  animal cruelty laws

[12:33] {Threei}  no go

[12:33] {geo} umm caterpillars exempt

[12:34] {nemo} What STT giveth, CAT taketh away

[12:34] {geo} down for the day here..... I need to stop churning

[12:34] {Threei}  wow

[12:34] {geo} as in take less of my calls :)

[12:35] {Threei}  how do you manage to have a down day with wins like 50 cents and stops 10-15?

[12:35] {Threei}  oh, I see

[12:35] {geo} [09:34] {geo} as in take less of my calls :)

[12:35] {geo} or atleast keep em 100 share trials

[12:36] {magoo} my quotes been very clunky all week..any others with this prob in laser?

[12:37] {magoo} i have recent version 336

[12:37] {geo} 336 here and seems fine

[12:37] {Threei}  fine here mags

[12:37] {magoo} is there something i should check?

[12:37] {magoo} mine are stuck right now

[12:37] {Threei}  but your connection is shaky judging from how you and dino get disconnected from the room at the same time now and then

[12:38] {nemo} traitorous pet

[12:38] {magoo} thinking its our side

[12:38] {geo} stop downloading prn while trading magoo

[12:39] {nemo} viruses, adware, sticky keyboard

[12:39] {magoo} vad..i cant execute arca orders..message"No MaxFloor on PL" u know how fix that? i do all orders thru inet

[12:39] {magoo} isld

[12:39] {Threei}  huh?

[12:39] {magoo} [12:38] {geo} stop downloading prn while trading magoo

[12:39] {magoo} [12:39] {nemo} viruses, adwarbut when i do that mkt goes up

[12:40] {geo} CNI strong

[12:40] {Threei}  if you have ISLD designated, what ARCA message have to do with your order?

[12:40] {Threei}  you checked Route on/off and picked ISLD?

[12:40] {magoo} i just switched it to arca in my route 

[12:40] {magoo} u mean cant do both?

[12:41] {Threei}  ummm... you talked about common sense a bit earlier... :)

[12:41] {Threei}  how can it do both at the same time?

[12:41] {magoo} how can i have both?i must go to settings?

[12:42] {Threei}  one of us is losing his marbles

[12:42] {geo} you can route out to arca and make arca priority magoo

[12:42] {Threei}  {Threei} how can it do both at the same time?

[12:42] {geo} but cant do both i think

[12:43] {magoo} ok..in trade settings i have route out inet checked, rte out arca ched rte out edga and edgx checked

[12:43] {Threei}  route out must be checked for all

[12:43] {Threei}  it's a different setting, has nothing to do with your primary routing

[12:43] {magoo} bats too?

[12:44] {Threei}  it simply means that when you pick that route, it will hit all others, not just its own book

[12:44] {Threei}  so check them all and forget it

[12:44] {magoo} bats too?

[12:44] {Threei}  {-- crying

[12:44] {dptl} lol

[12:44] {magoo} no listen..u now see my settings

[12:45] {magoo} i go to trade screen w/buy sel;l buttons and route pop up

[12:45] {magoo} change to arca..get that wording

[12:45] {Threei}  why?

[12:46] {magoo} now im crying...

[12:46] {Threei}  leave Island as a main route for listed stocks

[12:46] {Threei}  uncheck route on/off for nasdaq

[12:46] {Threei}  that's it

[12:46] {magoo} wheres  that rte on/off ? im using diferent screen

[12:47] {magoo} my lev 2 has only SELL CANX ALL BUY

[12:47] {Threei}  then you don't have it

[12:47] {Threei}  swicth to one I use

[12:47] {Threei}  that I showed you earlier

[12:47] {Threei}  and you will have that checkbox

[12:47] {magoo} more comfortable with this one

[12:48] {magoo} but i guess then on this one u can only choose island?

[12:48] {Threei}  I don't know, I don't use that screen

[12:48] {magoo} ok..sorry..thought it was a easy setting

[12:49] {magoo} see, why have the rte pop up if none worx

[12:49] {Threei}  FED'S LOCKHART: STILL EXPECTS GRADUAL RECOVERY IN SECOND HALF OF 2009, WARNS OF TROUBLE IN COMMERCIAL REAL ESTATE

[12:49] {Threei}  - Credit markets remain stressed overall, some recovery has taken place in parts of credit sector.

[12:49] {Threei}  - Fed is prepared to do more to help the economy, notes that further emergency lending is tied to health of markets.

[12:49] {Threei}  - Most commercial real estate in the US is under stress, pressures in commercial real estate are cause for concern.

[12:49] {Threei}  - Real estate issues could complicate the recovery.

[12:49] {Threei}  - Recent economic data has been discouraging, provides little reason to be positive about the immediate future

[12:52] {nemo} Where's the ledge...

[12:53] {nemo} for a green day it doesn't feel very postive

[12:53] {nemo} positive

[12:53] {Threei}  it did while we were going up

[12:53] {Threei}  we are locked into tight range with slightly negative bias for what now

[12:54] {Threei}  hour and half - two hours

[12:54] {Threei}  yeah, from 11:30

[12:54] {nemo} hit the high around 9:40 actually

[12:55] {Threei}  hmm?

[12:55] {Threei}  not on my chart

[12:55] {Threei}  11:36, and retested at 11:58

[12:56] {nemo} right 11:10 but it backtracked between 9:40 and then headed back to the highs around 10:30

[12:58] {magoo} kinda my point

[12:58] {magoo} the down days are relentless..remember monday

[13:03] {nemo} CAT's really coughin' it up

[13:04] {magoo} i like to see this mkt powrup hard at 2 pm like to 300 points

[13:05] {magoo} and close upward 

[13:06] {Threei}  could be tough to do mags... we had just one speech today

[13:06] {Threei}  another can come any minute and finish the destruction

[13:06] {nemo} stop or enhance?

[13:07] {Threei}  enhance

[13:07] {Threei}  what all speeches lately do

[13:07] {nemo} ahhhhh...ragnaroc coming

[13:07] {Threei}  btw, cosmo was right about PALM

[13:08] {magoo} yea vad..not saying it will develope

[13:08] {magoo} tell u though..very bad if we close red

[13:08] {Threei}  well... depends on what's bad

[13:08] {Threei}  see... my conviction is,

[13:09] {Threei}  we will see a lot more of downside anyway

[13:09] {Threei}  so why not do it now

[13:09] {Threei}  we have two options here

[13:09] {Threei}  one is, let's have serious flush and be done with it

[13:09] {Threei}  another is, let's have a relief rally now,

[13:10] {Threei}  then slide back down and crash

[13:10] {Threei}  honestly, I'd prefer latter :)

[13:10] {Threei}  umm

[13:10] {Threei}  sorry

[13:10] {Threei}  former

[13:10] {buyemsellem} Are you willing to guess at a bottom?

[13:10] {Threei}  nope

[13:11] {buyemsellem} I like the people that have called five or six bottoms already

[13:11] {Threei}  we have 999 our 1000 of market commentators doing that

[13:11] {buyemsellem} no kidding

[13:11] {Threei}  out of 1000

[13:11] {Threei}  even president joined them yesterday

[13:11] {Threei}  let me be that one left who says:

[13:11] {Threei}  I have no idea where the bottom is,

[13:11] {Threei}  and those who say they do are full of it

[13:12] {Threei}  they will call bottom 15 times,

[13:12] {Threei}  they will be wrong 14

[13:12] {Threei}  you will never hear from them about those 14

[13:12] {Threei}  but they will tout that last one till no end

[13:13] {Threei}  last year - year and half proved one thing:

[13:13] {Threei}  no one had a grip on the events development

[13:13] {Threei}  literally no one

[13:13] {Threei}  it's high time for them all to shut up and stop making predictions

[13:16] {buyemsellem} amen

[13:17] {nemo} unfortunately that's what they get paid to do

[13:17] {Threei}  let them... just don't believe any of them

[13:17] {Threei}  they have no clue

[13:18] {nemo} I don't even watch

[13:18] {Threei}  neither do we, but we don't pretend

[13:18] {Threei}  we take it trade by trade

[13:20] {Threei}  APOL non stop

[13:25] {Threei}  guy at CNN probably heard us talking about his ilk

[13:25] {Threei}  preaches "market is down 50%, time to buy"

[13:30] {nemo} Yeah, the P/E ratios are great

[13:33] {Threei}  trying to get a feel for the eod direction

[13:33] {Threei}  rally or fizzle out

[13:34] {Threei}  FED'S LOCKHART: NOT WORRIED ABOUT PROPECT FOR INFLATION RISING IN THE NEAR TERM; WILL NEED TO RAISE RATES WHEN ECONOMY BEGINS TO RECOVER - Q&A

[13:34] {Threei}  - Notes is optimistic that bad assets from banks can be removed from their balance sheets

[13:34] {Threei}  tell us how

[13:35] {Threei}  I suspect if you guys knew how to remove them you'd have done it ,long ago

[13:35] {nemo} yeah, we fund them

[13:36] {nemo} Well, you're a canuck...WE fund them

[13:36] {nemo} and you buy our debt :)

[13:40] {dino}  ntrs smackdown

[13:41] {Threei}  PREVIEW: FED'S BEIGE BOOK SURVEY OF REGIONAL ECONOMIC CONDITIONS TO BE RELEASED AT 2PMET

[13:42] {Threei}  i'd guess it's rather blak book

[13:42] {nemo} Bad...badder...worse

[13:42] {Threei}  black

[13:42] {nemo} bleak

[13:42] {nemo} morose

[13:42] {nemo} moribun

[13:42] {nemo} moribund

[13:42] {nemo} malfeasant

[13:42] {nemo} malevolent

[13:42] {nemo} machiavellian

[13:44] {Threei}  keepin half eye on DRIV

[13:44] {dino} will the recent pattern hold?

[13:46] {magoo} 2 pm has been the kick off of late

[13:47] {magoo} but up or down dunno...gotta ask cnbc announcer for that

[13:47] {Threei}  lol

[13:49] {dino} need to get another magic 8 ball

[13:49] {nemo} I need to get out from behind the 8 ball

[13:51] {dino} this week, me too

[13:51] {nemo} actually, need to have it surgically removed

[13:52] {magoo} if If mkt were to blast off watch SPY

[13:52] {cujo} spy

[13:52] {cujo} why?

[13:53] {magoo} kind of a tell 

[13:53] {cujo} so SPY will lead a bit?

[13:54] {magoo} yup

[13:54] {cujo} will keep an eye on it

[13:56] {magoo} how many eyes u got?

[13:58] {cujo} 2.5

[13:59] {magoo} oh u good then

[13:59] {nemo} see those tails on spy?

[14:00] {Threei}  RIG sharp down

[14:00] {Threei}  FED'S BEIGE BOOK: ECONOMIC CONDITIONS WORSENED, US ECONOMY ERODED FURTHER THROUGH LATE FEBURARY; NEAR TERM PROSPECTS POOR

[14:00] {Threei}  no really?

[14:01] {magoo} i need get copy of that book

[14:01] {magoo} lol

[14:02] {Threei}  Auto sales execptionally sluggish, Housing in the 'doldrums', mortgage demand was depressed

[14:02] {Threei}  - Notes that unemployment up broadly

[14:02] {Threei}  - No pickup expected until late 2009 or early 2010

[14:02] {dino} must6 they announce the same thing day after day. it is quite obvious what is happening

[14:02] {nemo} hehehehe wait till 2012

[14:02] {Threei}  yeah, that's extremely observant on their part

[14:03] {Threei}  frikin DRIV just cntinues climbing

[14:03] {Threei}  no pullback

[14:03] {nemo} what is driv?

[14:04] {nemo} nevermind

[14:04] {magoo} HIG green..any significance inb that vad?

[14:05] {Threei}  most of stocks green...

[14:05] {magoo} buying coming in

[14:05] {Threei}  - Spending remains low, with price pressures continuing to ease through a broad range of products

[14:05] {Threei}  - Philadelphia and Chicago note economic conditions have not deteriorated significantly, yet econmies remains weak

[14:06] {magoo} SPY breaks 72.05 we gonna get"high high"lol

[14:07] {magoo} thats from movie platoon 

[14:07] {nemo} thanks Barnes

[14:08] {nemo} SPY and FAS creepin' up

[14:08] {magoo} long spy here .60

[14:09] {magoo} looking for more than scalp

[14:09] {magoo} needs mkt

[14:09] {magoo} needs ally better put

[14:09] {geo} i thought spy was market

06[14:09] * geo hides

[14:09] {magoo} it is

[14:09] {magoo} [14:09] {magoo} needs ally better put

[14:09] {nemo} spy is S&P 500 etf

[14:10] {magoo} but it trades fast

[14:10] {magoo} read on GS vad???

[14:10] {dawg} SPY scalp ty magoo another slab of bacon for you

[14:10] {magoo} too late soorry boss

[14:12] {magoo} someone wake vad..thiongs starting to move here

[14:12] {magoo} kick him if u must

06[14:12] * geo slaps Threei around a bit with a large trout

[14:12] {geo} fish is good for you he said

[14:13] {Threei}  sigh

[14:13] {Threei}  relax, will ya

[14:13] {Threei}  5 points move NQ

[14:13] {Threei}  nothing really followed it

[14:13] {Threei}  RIMM is in place

[14:13] {Threei}  CAT in place

[14:13] {magoo} just doin  my job here

[14:14] {Threei}  GS, if pulls back into .50 will be inetersting

[14:15] {magoo} if goog pulls in 116 area interesting too

[14:16] {buyemsellem} that would be interesting

[14:16] {Threei}  if market spikes, AAPL .15 long

[14:16] {buyemsellem} i wonder what the NQ would be at that point

[14:17] {magoo} in

[14:17] {cujo} i'm in

[14:17] {cujo} .16 stop at .98

[14:17] {cujo} actually, stop at .94

[14:18] {Threei}  1:1 in a hurry

[14:20] {dawg} good call Vad AAPL ty

[14:20] {cujo} good call Vad

[14:20] {Threei}  welcome

[14:21] {magoo} ty aapl

[14:23] {Threei}  lol

[14:23] {Threei}  JPM

[14:23] {Threei}  HEARING DEFENDED AT MORGAN STANLEY

[14:23] {Threei}  uhhu

[14:24] {Threei}  I can just see banks putting their wagons in circle

[14:25] {Threei}  GS in the center, distributing riffles

[14:25] {Threei}  women dragging LEH's body

[14:25] {Threei}  kiddies are forbidden to look ar Bear Sterns

[14:26] {Threei}  wounded C giving out last words of wisdom

[14:27] {Threei}  BAC putting band-aids on the fresh wounds with grim determination on the face

[14:32] {dino} out vz .10, all day for a dime, sheesh

[14:32] {Threei}  lol

[14:32] {Threei}  too much like work eh?

[14:33] {dino} yeah

[14:33] {Threei}  still can't get a feel for the eod direction

[14:33] {cujo} i'm going out on a limbe here, but i'm guessing flat

[14:33] {cujo} limb

[14:34] {buyemsellem} you can't call it going out on a limb unless you predict that it's going up

[14:35] {nemo} think he was being ironical

[14:37] {cujo} i'm not sure what i mean

[14:37] {dino} i understand

[14:37] {nemo} well, you are rabid

[14:37] {cujo} :)

[14:38] {nemo} saw that woman from the movie not too long ago...that movie was loooong ago

[14:41] {dino} dna stop to .41

[14:41] {dino} all day

[14:42] {dino} out +.36

[14:43] {dino} cpla sm l .20

[14:43] {fernp} gj dino

[14:44] {dino} ty

[14:44] {Threei}  ok... up it is for next couple legs, IMO

[14:48] {dino} cpla stopped

[14:48] {Threei}  AAPL long .10 if holding 92

[14:48] {dino} man, i am off this week

[14:48] {Threei}  over 1:1

[14:48] {Threei}  gotta be frikishly fast

[14:49] {nemo} yeah, frustratin'

[14:49] {Threei}  anyone caught it?

[14:49] {cujo} nope

[14:49] {nemo} cujo?

[14:49] {cujo} sry

[14:49] {buyemsellem} got caught daydreaming

[14:49] {Threei}  just don't chase

[14:49] {Threei}  it's all just scalps

[14:49] {nemo} too old to chase...wait till they walk by and hit em with a baseball bat

[14:49] {Threei}  and no re-entry on the way back

[14:50] {geo} fxp seems to have an interesting correlation to spy

[14:50] {buyemsellem} yup

[14:50] {Threei}  each trade should be evaluated on its own at this time

[14:52] {geo} ahhh... finally crept back into green

[14:52] {Threei}  not easy to be green eh?

[14:52] {geo} not today for me no

[14:53] {nemo} Geezus...sesame street?

[14:53] {geo} rising fxp on way down

[14:54] {geo} riding

[14:54] {buyemsellem} interesting, or maybe not, that FAS is red

[14:54] {Threei}  disconnection of finnies from the market

[14:55] {Threei}  or more precisely, compartmentalizing

[14:55] {nemo} how do I swim without finnies?

[14:55] {Threei}  swim with chips

[14:55] {nemo} how do I hold them?

[14:55] {geo} chips as in semis?

06[14:55] * geo head hurts

[14:56] {nemo} Geo, look at my name

[14:56] {geo} true

06[14:56] * geo stands enlightened

[14:56] {Threei}  insane captain of a submarine... or lost fish

[14:56] {geo} comon fxp break 36 !!!

[14:57] {nemo} or guy who pokes cyclops eye out

[14:57] {Threei}  no read again

[14:58] {nemo} didn't mean your eye...

[14:58] {Threei}  lol

[14:58] {Threei}  I have 17

[14:58] {Threei}  just don't tell anyone

[14:58] {nemo} much be an expensive visit to the optometrist

[14:58] {geo} sheesh out fxp

[14:58] {dptl} ok..have a good evening all

[14:59] {Threei}  take care dp

[14:59] {cosmo} 17 ...that's odd

[14:59] {Threei}  NVDA

[14:59] {Threei}  CONSIDERING ENTERING THE X86 COMPUTER MARKET - WSJ

[14:59] {nemo} cosmo, don't leave tht one out there

[15:00] {cosmo} uh .... well its also prime

[15:00] {dino} well that was the 2-3 rally, now 3-4?

[15:00] {Threei}  (US) HOUSE FINANCIAL SERVICES SUBCOMMITTEE IS REPORTEDLY EXPECTED TO HOLD A HEARING ON MARK-TO-MARKET ACCOUNTING ON MARCH 12 - UNCONFIRMED REPORT

[15:00] {Threei}  {XLF}

[15:00] {Threei}  this is what propped FAS just now

[15:01] {dino} betcha

[15:01] {Threei}  Reportedly SEC accounting chief and FASB chief will be asked to testify before the subcommittee

[15:01] {buyemsellem} easily biggest volume of day

[15:02] {Threei}  on what?

[15:02] {buyemsellem} FAS

[15:02] {Threei}  not yet

[15:02] {buyemsellem} minute chart

[15:02] {dino} m2m  buyem

[15:02] {Threei}  oh

[15:02] {Threei}  yes

[15:02] {buyemsellem} yup

[15:03] {Threei}  if they announce abolishment of m2m, market explodes

[15:03] {Threei}  even this mention showing that they discuss it did

[15:03] {Threei}  on a small scale

[15:03] {nemo} Funny, it still doesn't make any difference, you still don't know what anything is worth

[15:04] {Threei}  doesn't really matter at the moment

[15:04] {nemo} no, this is the matrix

[15:04] {Threei}  it takes huge weight off the balance sheet

[15:04] {dino} deck s .59 sm

[15:05] {geo} MFE insteresting chart

[15:05] {dino} exactly 3i

[15:05] {Threei}  I love this line in the budget

[15:06] {Threei}  pigs odor research

[15:06] {Threei}  1.7 mil

[15:06] {geo} i think thats for SEC to sniff out CEOs :)

[15:06] {dino} sort of like sitting by magoo

[15:07] {geo} oooooh

[15:07] {cosmo} seems to be a bank investigation

[15:07] {cosmo} ... that 1.7 mil

[15:07] {dino} these rinses are big and killing me, cpla

[15:08] {Threei}  by the way, before market got active again

[15:09] {Threei}  mags... you remember you owe me watching a movie Fallen?

[15:09] {nemo} Azazel

[15:09] {magoo} huh?

[15:09] {cujo} Fallen good movie... 

[15:09] {geo} thats an interesting debt vad

[15:10] {magoo} title "Fallen"

06[15:10] * Threei slaps magoo around a bit with a large bottle of memory refreshing drug

[15:10] {geo} good movie

[15:10] {cujo} Anyone see "Lord of War"?

[15:10] {geo} man exited fxp too soon

[15:10] {Threei}  you and dino

[15:10] {nemo} yes

[15:10] {geo} any "learning to hold" drug vad?

[15:10] {Threei}  if you like storm of the century you are going to love fallen

[15:10] {nemo} rimm Vad?

[15:11] {magoo} a horror movie?

[15:11] {Threei}  not sure about RIMM

[15:11] {Threei}  market switched focus back to financials it seems

[15:11] {magoo} gs read?

[15:11] {Threei}  up

[15:12] {Threei}  if can get a pullback to .50 or under would be much safer

[15:12] {Threei}  but judging from FAS buying, not going to happen

[15:13] {dino} deck cov. stopped

[15:13] {geo} fxp gicing a nice scalp lag to spy vad

[15:13] {geo} giving

[15:13] {Threei}  see how RIMM is still there

[15:13] {Threei}  while FAS, GS, STT all go

[15:14] {nemo} yes

[15:14] {Threei}  15:11] {Threei} market switched focus back to financials it seems

[15:14] {magoo} tough on entries

[15:14] {magoo} darn

[15:14] {Threei}  pullback in order now, not too deep

[15:14] {Threei}  then another spike

[15:15] {Threei}  STT, probably .40 - .50 zone

[15:16] {magoo} wish GS would pullbk

[15:16] {magoo} 2 points from when i asked u

[15:17] {nemo} seems market is betting on m2m

[15:18] {magoo} vad pointed out many times...mkt just looking for any news at all that resembles positive

[15:19] {dino} why do you think obama's taking all of the bank common

[15:19] {magoo} prob is these kind of spikes are tough to enter..get left behind

[15:19] {dino} m2m gone, banks rock, fixed game

[15:19] {geo} summers

[15:20] {cosmo} and then down with that $25K rule...

[15:20] {Threei}  I'd put it this way nemo: this is what market wants to hear

[15:20] {magoo} they wont help traders...the govt really hates us

[15:20] {cosmo} sigh

[15:21] {magoo} cos..a sponsor of the trader tax yesterday was interviewed

[15:21] {magoo} was told iot would hurt small individual traders

[15:21] {Threei}  imbecil

[15:21] {cosmo} we help keep a stable market

[15:21] {Threei}  he thinks pension funds won't care?

[15:21] {magoo} he shrugged said who cares about daytraders..offer no economic value whjatsoever and they ruined mkt...NO SHIT

[15:21] {Threei}  hedge funds?

[15:22] {Threei}  mutuasl funds?

[15:22] {geo} I am sure the big boys will get exemption bad

[15:22] {geo} vad

[15:22] {Threei}  how do you draw the line?

[15:22] {Threei}  and what about online brokerages? whole industry

[15:22] {magoo} u should have seen this

[15:22] {Threei}  what, you forbid self-directed accounts?

[15:22] {geo} the way i see it worst case we will have to get series and join a exchange member prop

[15:23] {magoo} i tell u..if the law makers in majority are anyway near his opinion we f'ed

[15:23] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=abNkskpey.4I

[15:24] {dino} apol last try sm l .40

[15:24] {geo} wow gs

[15:24] {Threei}  decimate is right word

[15:24] {geo} feel yyour pain magoo

[15:25] {magoo} i gotta make like half mill BEFORE they pass that tax vad...so get to work

[15:26] {Threei}  then you have a lifetime for that magoo

[15:26] {Threei}  it won't happen

[15:26] {geo} england has it

[15:26] {Threei}  and if it does, making money will be your last problem

[15:26] {geo} but it has all sort of loopholes

[15:26] {dino} anything can happen

[15:26] {nemo} Barney Frank says it's off the table for at least the next 4 years.

[15:26] {magoo} get to work anyway rofllol

[15:26] {dino} barney was off the table

[15:27] {magoo} barney was "nder" the table dino

[15:27] {Threei}  http://www.realitytrader.com/blog/2009/02/securities-tax-proposal.html

[15:27] {dino} that idiot got us here, i control fmn, fre

[15:27] {Threei}  too bad they gave so much time till hearing... March 12

[15:28] {magoo} then we need equal idiot to lead us out i think

[15:28] {Threei}  if it was tomorrows, FAS would have been at 5 already

[15:28] {magoo} HIG really reversed

[15:30] {geo} woooo

[15:31] {cosmo} last half hour needs better volume .... i think

[15:32] {dino} apol stop to .95

[15:32] {nemo} or is this going to be like the rest and cruise into the close

[15:33] {Threei}  I don't know... feels different

[15:33] {dino} out apol .05, +.65

[15:34] {Threei}  wtg

[15:34] {magoo} feels like strong close

[15:34] {magoo} just a feeling

[15:35] {dino} deck rinsed 

[15:35] {Threei}  yes mags but we still have 30 minutes for another speech

[15:35] {nemo} if it close now it woul be strong

[15:35] {magoo} oh shit..because we didnt have 2 already today..forgot him

[15:35] {Threei}  yup, just one

[15:36] {nemo} He'll probably come on and talk about how wonderfully the market is doing

[15:36] {buyemsellem} he would advise the nation to sell into the rally

[15:37] {buyemsellem} for a nice profit from when he said to buy

[15:37] {Threei}  and claimed the title of headtrader in chief?

[15:38] {geo}   so much cynicism

[15:38] {Threei}  UBS

[15:38] {Threei}  US SENATOR LEVIN (D): UBS HAS AGREED TO TURN OVER THE NAMES OF 300 CLIENTS TO THE IRS

[15:38] {Threei}  - UBS will not turn over any more info beyond these 300 names after the US Govt was seeking in excess of 50K names

[15:38] {Threei}  - Reminder: Back on 2/18 UBS settled an SEC suit claiming UBS took $380M of "ill gotten" gains by acting as an unregistered brokerage and advisor to US clients and pledged to name about 250 account holders.

[15:38] {Threei}  how do they pick those 300?

[15:38] {Threei}  lottery?

[15:39] {geo} the poorest ones who didnt pay enough fees to UBS?

[15:39] {cosmo} they watch who's sell now

[15:39] {cosmo} selling

[15:40] {geo} heheheh

[15:40] {geo} C almost a penny stock

[15:40] {geo} been banking there for 15+ years

[15:41] {cosmo} they need you now

[15:43] {cosmo} i bot one of their cars once

[15:43] {cosmo} the Dart

[15:43] {cosmo} miss it

[15:47] {nemo} wiedersehen

[15:48] {nemo} see ya mornin'

[15:48] {Threei}  take care nemo

[15:48] {dino} cya nemo

[15:49] {Threei}  we have 12 more minute not to fizzle out

[15:49] {Threei}  PALM

[15:49] {Threei}  S&P CUTS RATINGS

[15:50] {dino} little late

[15:50] {Threei}  (AU) AUSTRALIAN PM: THERE IS NO STOPPING THE GLOBAL ECONOMIC STORM, EXPECTS UNEMPLOYMENT TO WORSEN

[15:50] {Threei}  no stopping eh

[15:51] {Threei}  ehat kind of defeatist talk is that

[15:51] {dino} it's perpetual. it will never end

[15:51] {dino} :)

[15:51] {Threei}  yup... unemployemtn will rise to 100%

[15:52] {Threei}  and above

[15:52] {cosmo} its to make you afraid, i'm afraid

[15:52] {magoo} shitty cl.ose

[15:52] {magoo} AGAIBN

[15:52] {Threei}  come on mags

[15:52] {dino} seems to me the guy should join the unemployed w/that thinking

[15:53] {magoo} its selling hard vad

[15:53] {magoo} lost 60 points

[15:53] {Threei}  nothing of the scale we saw

[15:53] {Threei}  just slight profit taking

[15:54] {Threei}  and btw

[15:54] {Threei}  what are you fdoing here still, instead of going to rent Fallen?

[15:54] {magoo} is it about trading?

[15:54] {Threei}  lol, no

[15:55] {cosmo} fallen down?

[15:55] {magoo} is it about magoo drinking?

[15:56] {Threei}  oh just go watch it already

[15:56] {dino} taking a little apol overnight

[15:56] {magoo} joke..magoo drinks..he fallks down

[15:56] {magoo} ask fdino

[15:56] {dino} and esi if it hits lod

[15:57] {dino} he's lucky he's like a tigger

[15:58] {magoo} see..i just think the psychology of this close isnt grewat

[15:58] {magoo} gave back 90

[15:59] {dino} nor is your mental health

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all, that was a fair day

[15:59] {magoo} ty vad

[15:59] {Threei}  have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {fernp} good evening 

[16:00] {buyemsellem} thanks, have a good evening

[16:00] {vint} good evening all

[16:01] {dino} thx all

[16:01] {cujo} c ya all