Happy day for my broker. Pretty much empty day for me. A lot of churning, win here, stop there - finishing the day about flat while raking a lot of shares turned out. Just one of those days.
Session Time: Wed Mar 11 00:00:00 2009
[08:51] {magoo} morning
[08:52] {Threei} good morning
[08:52] {dptl} good morning
[08:52] {Threei} fess up mags... took FAS overnight?
[08:52] {Threei} d :)
[08:52] {magoo} been taking kids to school this week...throwing me off schedule
[08:53] {magoo} no vad...i havent taken a stock over nite in 14 months
[08:53] {magoo} really
[08:53] {magoo} ill play premkt or post mkt
[08:57] {Onix} Good morning
[08:57] {Threei} onix :)
[08:58] {pita} morning all
[08:58] {magoo} working theory this morn vad?
[08:59] {Threei} pita :)
[08:59] {Threei} pullback, consolidation, breakout, rally
[09:00] {magoo} u know...i was thinking same but worded different..pop...drop...pop....rock
[09:00] {Threei} well... that wording requires less letters and syllables
[09:00] {Threei} and gods know I am all for simplicity and short words
[09:01] {Threei} BCON
[09:01] {Threei} CONFIRMS FULL ENVIRONMENTAL APPROVAL FROM U.S. DEPARTMENT OF ENERGY FOR 20 MEGAWATT FLYWHEEL PLANT
[09:01] {Threei} that dog is still barking?
[09:05] {KSystems} Hi!
[09:05] {Threei} ks :)
[09:05] {dino} gm all
[09:06] {dino} so used to end of days, not sure what to read here
[09:06] {dino} online edu's getting hit
[09:07] {Threei} dino :)
[09:07] {Threei} well, if we get continuation, that will be a first time in ages
[09:08] {magoo} dow ..s&p only 4 up sessions out of last 17...i dont believe we had 2 in a row
[09:08] {ese} morning all
[09:10] {dino} :)\
[09:12] {Onix} hi ese :)
[09:12] {Threei} ese :)
[09:12] {ese} morning vad
[09:13] {ese} winnipeg cold lately.....for this time of year
[09:14] {Threei} well... a bit too cold here too
[09:14] {Threei} where is al gore
[09:15] {cosmo} had to close some windows here last nite
[09:16] {geo} good morning
[09:16] {Threei} geo :)
[09:17] {ese} geo
[09:18] {tomg} good morning
[09:19] {Threei} tom :)
[09:23] {dino} seems too giddy
[09:23] {Threei} yeah
[09:23] {Threei} I'd prefer pullback and consolidation to trust the breakout
[09:23] {cosmo} ...if QQQQ has high volume follow thru as it cuts through 28 .... we bottomed imho
[09:23] {Threei} break right out of the gate is too likely to fail
[09:24] {pita} watching what?
[09:24] {dino} still not liking yesterdays gaps, imo they will fill at some point
[09:24] {Threei} FAS, WFC, BAC
[09:24] {Threei} USB
[09:25] {ese} I would agree with you cos......pretty significant resistance there though
[09:25] {cosmo} yeah ...
[09:25] {magoo} dino,,they will fill be may take a wek
[09:26] {magoo} week
[09:26] {ese} solid double botom if thats the case
[09:26] {cosmo} 25.05 = QQQQ low
[09:27] {dino} in my best, "so i married an ax murderer" voice... "untrusting"
[09:27] {Threei} either double bottom, or inverted C&H, ese
[09:27] {Threei} (US) TREASURY'S KASHKARI: CAN NOT MICRO-MANAGE US BNAKING INSTITUTIONS THAT HAVE RECIEVED GOVERNMENT FUNDS
[09:28] {Threei} FAS liking it
[09:30] {Threei} if STT remains true to its form, pullback to 20 or under is likely
[09:30] {Threei} then sizeable bounce
[09:30] {Threei} sharp selling at the open... good
[09:32] {cosmo} ASML 16.76 hod fwiw
[09:32] {Threei} FAS, want to start building position near 4
[09:33] {nemo} umbrella today?
[09:33] {Threei} quite posasible
[09:33] {Threei} 3.90 nearest support
[09:33] {Threei} first strength from here
[09:34] {magoo} pretty good pull
[09:34] {nemo} so much for the rally
[09:34] {ese} i'm likin
[09:34] {ese} fas
[09:34] {ese} as well
[09:35] {Threei} not yet but very close
[09:35] {nemo} Is Obama speaking?
[09:35] {magoo} lol
[09:35] {dino} mcd
[09:35] {dino} ice
[09:35] {nemo} next support 3.75
[09:36] {Threei} .81 long
[09:36] {Threei} in
[09:36] {Threei} .74 stop
[09:36] {geo} in
[09:36] {nemo} in
[09:36] {Threei} missed STT... crap
[09:37] {magoo} in
[09:37] {geo} out half
[09:37] {Threei} out half .93
[09:38] {Threei} out 1/4 more 4.01
[09:39] {dino} mcd sm l .25
[09:39] {magoo} full out .02 TY VAD
[09:39] {Threei} stop 3.79 for the last piece
[09:39] {Threei} welcome mags
[09:40] {fernp} Hello everybody
[09:40] {Threei} fern :)
[09:40] {geo} all out .08 thanks vad
[09:40] {Threei} geo :)
[09:41] {Threei} out last piece
[09:41] {pita} +.20 ty
[09:41] {Threei} pita :)
[09:42] {geo} hmm NRG crashing DVN rising
[09:44] {Threei} US CHAMBER OF COMMERCE CEO: MARK TO MARKET ACCOUNTING WAS NOT RESPONSIBLE FOR THE FINANCIAL CRISIS
[09:44] {geo} what????
[09:45] {geo} he should have taken it an run
[09:47] {Threei} pullback time
[09:48] {Threei} WFC, watching for entry on pullback
[09:48] {Threei} .20 zone would be nice
[09:49] {Threei} if never loses .40, long trigger for breakout is .51
[09:49] {magoo} ok
[09:49] {nemo} Why .51 when high .60?
[09:49] {Threei} FAS, 4.05 zone to watch for re-entry
[09:49] {magoo} spy nears 73 and we bouince..good long imo
[09:50] {magoo} lets see if pulls back
[09:50] {Threei} it bumed on .50 couple times before pulling back deeper, want semiagressive entry
[09:50] {magoo} futes going up
[09:51] {Threei} yeah, shallow pullback
[09:51] {magoo} in wfc .49
[09:51] {Threei} stop under .35 mags
[09:52] {magoo} out
[09:53] {magoo} lil early
[09:53] {Threei} on both sides
[09:54] {magoo} yea
[09:59] {magoo} c'mon bulls
[09:59] {Threei} pullbacks look better
[10:00] {magoo} traders uncertain here
[10:00] {Threei} Long Setup: WFC .41 if stays above .30
[10:01] {ese} you thinkin re entry on FAS vad
[10:01] {geo} invalid?
[10:02] {Threei} SEC'S SHAPIRO: WIL CONSIDER STEPS TO RESTRICT VOLATILITY IN MARKETS
[10:02] {Threei} yes
[10:02] {Threei} hmmm
[10:02] {geo} ban magoo
[10:02] {Threei} restrict volatility?
[10:02] {geo} yup
[10:02] {Threei} market is not going to like it
[10:02] {geo} him and his 100 lots
[10:03] {Threei} overall yes ese, but no clear idea yet
[10:04] {Threei} (US) GEITHNER: TO URGE DECISIVE ACTION DURING G20 MEETING
[10:05] {Threei} WFC setup is back
[10:06] {nemo} in
[10:06] {geo} you in vad?
[10:07] {cujo} in
[10:07] {Threei} yes
[10:07] {geo} stop?
[10:07] {Threei} same under .30 for scalpers
[10:07] {Threei} under .25 for day traders
[10:07] {geo} i missed now thinking
[10:07] {Threei} I missed priginal break too, got .37 on the way back
[10:07] {geo} :)
[10:08] {ese} was lookin at something else and missed first FAS entry
[10:08] {geo} i was in DE on pullback ... got distracted
[10:08] {Threei} a lot of hesitance here in the market
[10:09] {cujo} stop
[10:09] {Threei} hard to tell whether it's a shakeout moment or market is fizzling out
[10:15] {vint} good morning everyone
[10:15] {magoo} vint:)
[10:15] {Threei} vint :)
[10:18] {dino} well it was selloff time 10:10
[10:18] {Threei} and no real selloff
[10:19] {Threei} ok, FAS
[10:19] {Threei} 4.10 is established as support
[10:20] {Threei} get it wherever you are comfortable with stop size
[10:20] {Threei} and let's try to give it time
[10:20] {Threei} want a more serious move
[10:21] {magoo} ok..HL FAS .20..will take more if breaks ouit
[10:21] {cujo} in
[10:21] {magoo} long spy .25
[10:21] {magoo} stop .94
[10:22] {Threei} frigin WFC shook us out
[10:22] {magoo} toughie
[10:22] {magoo} could esxplode too to 13
[10:24] {Threei} USB, watching for pullback into 12.50
[10:24] {Threei} if we make a new high here, this market action has potential for another leg of rally
[10:24] {ese} in FAS
[10:25] {ese} .24
[10:25] {magoo} yea..just need to step up here and now
[10:25] {Threei} a bit too far from where I started screaming...
[10:25] {ese} i hope your talking about FAS mags....exploding to 13
[10:25] {Threei} but new high is being made
[10:25] {magoo} this ois IS the moment
[10:25] {Threei} ok guys, game plan
[10:25] {magoo} SPY best trade potential
[10:26] {Threei} stop is still under 4.10,
[10:26] {magoo} 73.70 area.first resist
[10:26] {magoo} then to the moon
[10:26] {Threei} want to sell half closer to 4.50, then re-evaluate
[10:26] {magoo} which vad?
[10:26] {magoo} FAS?
[10:26] {Threei} what else do we have in this price?
[10:27] {magoo} i WFC too
[10:27] {Threei} 4.50?
[10:27] {magoo} in .35
[10:27] {geo} USB ripping
[10:27] {magoo} wfc there now
[10:27] {magoo} [10:26] {&Threei} want to sell half closer to 4.50, then re-evaluate
[10:27] {magoo} i could cut WFC
[10:27] {magoo} oh SHIT
[10:28] {Threei} mags... how do 4.50 and 12.50 look any similar to you???
[10:28] {magoo} 12.50 lol
[10:28] {dino} v sm l .50
[10:28] {magoo} ROFLOL
[10:28] {magoo} i just looking at .50 he he
[10:28] {magoo} hey..i got 3 going here
[10:29] {Threei} USB, I am crying
[10:30] {Threei} *DOE CRUDE: +750J V -500KE
[10:30] {Threei} GASOLINE: -2.99M V -1ME; DISTILLATE: +2.11M V +200KE; CAPACITY UTILIZATION: 82.7% V 83.1%E
[10:30] {magoo} WFC first exit .70 are
[10:30] {Threei} guys, manage FAS according to your risk tolereance and share size
[10:31] {geo} moving top to .18 vad?
[10:31] {geo} stop
[10:31] {magoo} ESE
[10:31] {Threei} with .18 - .20 entry, we are solidly over 1:1
[10:31] {Threei} my idea is different geo
[10:31] {Threei} I want to sell half,
[10:32] {geo} at .5?
[10:32] {magoo} out ESE
[10:32] {magoo} .69
[10:32] {magoo} look for pullbk
[10:32] {Threei} then if it pulls back into our buying range, buy that half back
[10:32] {Threei} with original stop
[10:32] {magoo} out FASTY BOSS
[10:32] {Threei} welcome
[10:32] {magoo} sorry confuision
[10:32] {Threei} that's ok, I understood
[10:33] {Threei} I can read magooish
[10:33] {magoo} i was watching the cents
[10:33] {magoo} ESE?
[10:33] {Threei} but I can't miss any chance to tease you
[10:33] {magoo} SIGH.............i miss the slaps
[10:33] {Threei} what's to miss
06[10:34] * Threei slaps magoo around a bit with a large roll of cash
06[10:34] * Threei slaps magoo around a bit with a large chart of uptrending market
[10:35] {magoo} i may be all f'ed up...but both trades made $$
[10:36] {magoo} futes need to hold here BIG TIME
[10:37] {dino} pcln
[10:39] {magoo} JPM drilled vad
[10:39] {Threei} a bit too far from the low of this pullback...
[10:40] {magoo} mkt needs to make up mind to POERUP
[10:40] {magoo} POWER UP
[10:40] {magoo} lol
[10:41] {magoo} DINO COFFEE..cant leave my desk
[10:42] {Threei} US CONGRESSMEN URGE MANDATORY NATIONAL ANIMAL ID SYSTEM TO PREVENT SPREAD OF ANIMAL DISEASE
[10:42] {Threei} yup
[10:42] {Threei} this is the urgency of the moment
[10:44] {geo} vad you bank any on fas?.... i partialled
[10:44] {Threei} yes
[10:44] {Threei} watching for either stop or adding half back
[10:45] {pita} add back where?
[10:45] {Threei} stop is under .10
[10:45] {Threei} if holding it and starts recovering, will try to determine entry
[10:46] {pita} ty
[10:46] {Threei} ok... .15 if holding above .10
[10:47] {Threei} not holding
[10:47] {Threei} oh well
[10:48] {Threei} look at WFC selloff
[10:48] {nemo} Looks like no one's convinced yesterday is for real
[10:48] {dino} breakdown coming imo, sm l sds .50
[10:51] {nemo} .05 new support for fas?
[10:51] {Threei} Long Setup: GE 9 break for a scalp
[10:52] {fernp} stop 8.87?
[10:52] {magoo} in
[10:52] {Threei} for hardcore scalpers, stop .94
[10:52] {Threei} for the rest .89
[10:54] {dino} stay away from me today, way off
[10:54] {nemo} well, then, we might as well hangout Dino
[10:54] {dino} lol
[10:54] {geo} whats up with pcln?
[10:55] {cosmo} qqqq 28 test soon
[10:55] {cosmo} i think
[10:56] {magoo} where u in cosmic?
[10:57] {dino} pcln?
[10:57] {cosmo} once you're in, you're in for good....
[10:57] {Threei} no news that I see for PCLN
[10:58] {Threei} SEC'S SHAPIRO: FASB WILL PROVIDE MARK-TO-MARKET ACCOUNTING GUIDANCE - Q&A
[10:59] {Threei} UPDATE: WEAKNESS IN TRAVEL STOCKS BEING ATTRIBUTED TO EXPE LAUNCHES SPECIAL FLIGHT PROMOTION THAT INVOLVES WAVING BOOKING FEES UNTIL 5/31
[10:59] {Threei} {OWW PCLN}
[10:59] {geo} thanks
[11:00] {Threei} SEC'S SHAPIRO: THERE IS 'CLEAR INTEREST' FOR RESTORATION OF UPTICK RULE; FASB WILL PROVIDE MARK-TO-MARKET ACCOUNTING GUIDANCE IN Q2; AND SEC DOES NOT SUPPORT SUSPENSION OF MARK-TO-MARKET RULES - Q&A
[11:00] {Threei} - Notes that it was not the SEC's intention to have hard to value assets marked to fire sale levels
[11:01] {Threei} pres on TV
[11:02] {Threei} Shapiro
[11:02] {Threei} - Says that she hopes to get the uptick rule out in April{
[11:02] {wulff} in ge
[11:03] {magoo} dont care about uptick
[11:03] {Threei} neither do I
[11:03] {magoo} do NOT want that traders TAX
[11:05] {cosmo} remember the $35 commission?
[11:05] {Threei} Terrfic Tim is speaking now
[11:05] {Threei} vividly cosmo
[11:06] {nemo} that'll make $35 commission look like pocket change
[11:06] {Threei} yup
[11:06] {magoo} it will kill us
[11:06] {cosmo} oh
[11:06] {geo} not happenning
[11:06] {Threei} nope
[11:06] {nemo} thanks geollum
[11:06] {geo} was hearing a talk by ameritrade director of trading
[11:07] {geo} also a major lobbyist
[11:07] {Threei} no wonder
[11:07] {Threei} their business is finished in one day if that proposal is passed
[11:08] {dino} sm l pcln .01
[11:09] {nemo} financials are flatlining
[11:09] {ese} qqqq working it's way to 28 cos
[11:09] {cosmo} now i wonder...
[11:10] {cosmo} ASML seems to lead
[11:11] {geo} your stop dino?
[11:11] {Threei} US SENATOR DODD: CONGRESS MAY TAKE MEASURES IN FINANCIAL SECTOR TO MAKE SURE THAT REGULATORY ADJUSTMENTS WILL NOT HAMPER INNOVATION
[11:12] {Threei} these guys just can't stop talking, can they?
[11:12] {cosmo} ... in real estate...
[11:12] {geo} either previous lawyers or class presidents
[11:13] {Threei} US HOUSE: AIMING TO ADJUST EARMARKS; REQUIRE PROJECT FUNDING AIMED TOWARDS 'FOR PROFIT' COMPANIES TO BE BID UPON
[11:14] {dino} geo on your own, it like pulp
[11:14] {geo} heheh i am loving it
[11:14] {geo} lots of air
[11:15] {geo} you have a target?
[11:15] {fernp} no worky GE
[11:15] {dino} 76?\
[11:15] {geo} cool same here
[11:15] {geo} been watchint it all day
[11:15] {geo} made some on way down
[11:15] {geo} but scary stock
[11:16] {wulff} good call on pcln dino
[11:16] {dino} hard stop 75
[11:16] {dino} ty
[11:17] {dino} started out wrong today
[11:17] {geo} me too
[11:17] {dino} stopped pcln, damn, +1.01
[11:17] {geo} ok out
[11:17] {geo} same here
[11:17] {geo} but had a lot
[11:17] {geo} hehehehe
[11:18] {geo} i think i am going to stop trading for the day
[11:18] {dino} gj geo
[11:18] {cosmo} just take a nap
[11:18] {geo} was a lill stress full
[11:18] {geo} was in GE but cancelled at break even as wast going anywhere
[11:18] {geo} wasnt
[11:19] {geo} dino rinse on stop?
[11:19] {geo} volume shows more juice
[11:19] {dino} looks like it
[11:19] {dino} 73.60s
[11:20] {dino} 74.60 i mean
[11:20] {nemo} volume similar to yesterday so far
[11:20] {dino} careful mkt drop
[11:21] {dino} sds major rinse
[11:22] {Threei} CAT formed inverted C&H
[11:23] {Threei} 26.10 becomes a short trigger, but I'd like to see some consolidation first
[11:23] {Threei} it dropped a bit too sharply
[11:23] {ese} just looked at PCLN....nice one dino
[11:24] {dino} ty
[11:24] {geo} darn 76 dinoo
[11:24] {geo} my stop was too tight but had too much money at stake
[11:24] {Threei} prez on TV
[11:25] {geo} probably still trying to campaign
[11:26] {geo} he is like the hidden japanese still fighting WWII
[11:26] {geo} someone tell him... campaign is over
[11:27] {dino} roflol
[11:27] {dino} he complains about shorts, but his talking is the biggest short going
[11:29] {dino} me too geo, sorry, but it had 35 cent cushion
[11:29] {dino} laying in wait at 75.40
[11:30] {geo} it was a great trade... thanks dino.... i had been going short on it....
[11:30] {dino} "end of old ways" must mean pass what i say
[11:31] {nemo} He's borrowing from Chavez in Venezuela..talktalktalktalktalktalktalk
[11:32] {dino} reminds me of him, takes over bank, insurance companies, autos, etc. he just went for money centers rather than oil
[11:32] {dino} socialist or worse
[11:32] {Threei} EFC
[11:32] {Threei} WFC
[11:33] {Threei} back in day's low
[11:33] {fernp} DRYS forming a DBI
[11:33] {Threei} .81 long
[11:33] {Threei} .75 stop
[11:34] {Threei} no go
[11:35] {Threei} wow
[11:37] {ese} outta here for a litle while....see you in a bit hopefully....
[11:37] {Threei} take care ese
[11:38] {ese} see ya vad
[11:42] {Threei} if market resumes down, let's try semi-aggressive entry on CAT
[11:43] {Threei} .29 short if stays below .40
[11:53] {Threei} US TREASURY'S KASHKARI: TREASURY RECEIVED $2B IN TARP DIVIDENDS IN Q1
[11:54] {Threei} so, they are making money on it?
[11:54] {Threei} all is well?
[11:56] {dino} axys
[12:01] {dino} sm l pcln .50
[12:02] {dino} what do you make of axys
[12:02] {dino} up for sale, but????????
[12:03] {Threei} 11:13am [AXYS] Has reportedly put itself up for sale; first round bids were due on Tuesday; reportedly AXYS seeking about $60/shr - unconfirmed report
[12:06] {dino} somebody knows something
[12:07] {Threei} SEC'S SCHAPIRO: HEDGE FUND RULES SHOULD REQUIRE DISCLOSURE OF TRADING AND HOLDINGS
[12:07] {Threei} huh?
[12:08] {Threei} that sounds beyond weird to me
[12:11] {Threei} 03/11/09 11:44am
[12:11] {Threei} [MCK] McKesson Corp Drug distributor weakness attributed to comments at Barclays conference and Rite Aid concerns
[12:11] {Threei} - hearing MCK management indicated a recent decrease in core distrubuiton businesses notabley from physicians offices
[12:11] {Threei} - separately, a Deutshce Bank note expresses concerns over exposure to Rite Aide, which accounts for 13% of MCK sales.
[12:12] {Threei} serious selloff MCK
[12:13] {wulff} do you have an opinion on whether to sell swing/pos. trades on resistance or into stronger buying?
[12:13] {Threei} too general question...
[12:13] {Threei} depends on a type of the market
[12:13] {wulff} how about this one
[12:13] {Threei} in a ranging market, resistance
[12:13] {Threei} in trending, shrp spikes
[12:14] {wulff} ok
[12:14] {Threei} we don't have uptrending market yet
[12:14] {nemo} psychotic
[12:14] {Threei} so far it's just a bounce in downtrend
[12:16] {Threei} GS new high
[12:16] {nemo} CAT Vad, sneaking above 11:12 peak
[12:18] {Threei} watching GS pullbackfor bounce entry
[12:19] {Threei} sharp selling into .50 - .60 zone would be interesting
[12:21] {dino} out pcln slipped .80, +.30
[12:23] {Threei} I don't get CAT today
[12:26] {dptl} Vad...nflx and ebs short? what do you think?
[12:26] {Threei} NFLX, a bit conflicting
[12:27] {Threei} intraday chart is DBI, bu on daily it dropped sharply into support
[12:27] {Threei} with any market help feels like bounce to me
[12:27] {dptl} ok ty
[12:28] {Threei} EBS still has room to downside
[12:28] {Threei} if makrt drops more and breakdown follows, I'd prefer EBS as a short over NFLX
[12:28] {dptl} ty
[12:31] {Threei} look... tiny market bounce, NFLX jumps 30 cents
[12:31] {Threei} EBS stays near low
[12:31] {dptl} yes
[12:31] {Threei} kind of reinforces the read
[12:35] {dino} sm l pcln .10
[12:41] {Threei} I hate CAT today
[12:42] {cosmo} Cheshire Cat ...maybe
[12:43] {Threei} feels short and works on a short side, but entries are totally counterintuitive
[12:43] {Threei} can't get it right
[12:44] {cosmo} yea ....had to nap here
[12:45] {cosmo} now i got a kink in my neck
[12:47] {cosmo} ah ... its the full moon
[12:52] {Threei} Short Setup: WFC .45 if stays under .55
[12:54] {Threei} lol... oversupply of hybrids
[12:54] {nemo} yeah, toyota having tough time
[12:54] {Threei} a loty of unsold ones
[12:54] {Threei} big drop in value of used ones
[12:55] {nemo} Why .45 w support under .40? aggresive entry?
[12:55] {Threei} now, let's push GM and F to make more of those and kill them finally
[12:55] {Threei} yes, bounced from here a few times
[12:55] {nemo} so, if it goes there again, likely to fail?
[12:56] {Threei} with market help, yeah, and it has a manner to drop sharply
[12:56] {Threei} so I don't want to chase into the next support
[12:56] {Threei} trying to find entry point that would get us in earlier and with tighter stop
[12:56] {nemo} @.20?
[12:57] {Threei} then we wil have less risk and more opportunity to cover into sharp drop
[12:57] {Threei} why .20? its low is .32 so far
[12:58] {nemo} looking at yesteray around 2:45
[13:00] {Threei} 1:1, covering half
[13:00] {Threei} US TREASURY'S GEITHNER: TO OUTLINE REGULATORY PLAN BEFORE APRIL MEETING OF G20
[13:03] {dino} they really take their time on this
[13:04] {dino} what was the point of the big feb 10th mtg
[13:04] {Threei} well dino... up to couple days ago appointments, Timmy was home alone
[13:05] {Threei} kind of tough to regulate whole financial sector when you don't have anyone to type the letter for you
[13:11] {dino} hmmmm
[13:13] {Threei} fern, thank you for MPP review
[13:14] {fernp} welcome
[13:14] {nemo} you out vad?
[13:14] {Threei} ?
[13:14] {nemo} wfc
[13:14] {Threei} oh, second half
[13:14] {dino} sm l cmtl .03
[13:14] {nemo} yes
[13:14] {Threei} sure, stop trails to above b/e after 1:1
[13:16] {Threei} anyone shorted EBS on 17 break?
[13:16] {Threei} almost 70 cents
[13:17] {Threei} dp??
[13:18] {dptl} no missed it was ivolved with ads for +.20...and mised entry
[13:18] {Threei} great... not only no one pays attention, even one who asks the question pays no attention to answer... lol
[13:19] {Threei} anyway, look at the difference in behavior between EBS and NFLX
[13:19] {dptl} :) ye was waiting waiting and mised didnt want to chase it
[13:23] {Threei} US TREASURY'S KASHKARI: CONCERNED OVER PROPECTS THAT THE BANKS MAY NOT DESIRE TARP CAPITAL
[13:23] {Threei} huh?
[13:23] {Threei} what the heck is going on today
[13:24] {Threei} comments seem to be from some other universe
[13:24] {nemo} Bizzaro World
[13:24] {Threei} how the fact that banks are so healthy that they don't need/want taxpayers money can be troubling?
[13:25] {cosmo} maybe its to avoid being nationalized
[13:26] {Threei} there are so many logical fallacies and inconsitencies in that, I don't even know where to begin
[13:26] {Threei} just one:
[13:26] {Threei} so he is concerned that banks may not want to be nationalized?
[13:27] {cosmo} or maybe to avoid interfering with the forclosure process
[13:28] {Threei} you guys need that midterm election NOW
[13:28] {Threei} not in 2010
[13:28] {cosmo} dunno here ... spinning my wheels too
[13:28] {Threei} and you know the names to throw out, right?
[13:28] {cosmo} yep
[13:29] {Threei} starting with 8 tax-happy folks
[13:29] {nemo} Doesn't matter, nobody understands who to elect...
[13:29] {Threei} and ending with "FRE and FNM will do what I tell them to do" bloke
[13:29] {nemo} Plus, you have to deal w/statistical distribution of the electorate's intelligence
[13:30] {cosmo} as well as retention incentives
[13:30] {nemo} what immodium?
[13:31] {dino} well, thats what won him the election, the inner cities
[13:31] {Threei} yeah... as old joke goes, "Total of the intelligence on tha planet is constant... while population increases"...
[13:31] {Threei} hey guys, guess what
[13:31] {Threei} Prez on TV
[13:31] {cosmo} oh
[13:32] {fernp} Venezuela tv?
06[13:32] * Threei quietly dissolves in the night
[13:32] {nemo} I was just gonna' say, but thought...nah...6 times in one day too much
[13:32] {cosmo} 6?
[13:32] {Threei} 3rd time today
[13:32] {dptl} he is tv star now
[13:32] {nemo} joke
[13:33] {nemo} but I thought it was only the 2nd....sheesh
[13:33] {Threei} JPM CEO: BANK STRESS TESTS WILL BE 'VALUABLE'; WILL DETERMINE WHICH BANKS ARE HEALTHY AND WHICH ARE NOT
[13:33] {cosmo} seems more like 1/2 dozen
[13:33] {Threei} yeah... too bad we will never know
[13:34] {ese} yo back for a litle bit....everybody filthy stinky rich yet??
[13:34] {dptl} how about sivb short?
[13:35] {nemo} Hey guys, wanna see a great email?
[13:35] {ese} go for it
[13:35] {nemo} I became confused when I heard the word 'service' used with these agencies.
[13:35] {nemo} Internal Revenue 'Service'
[13:35] {nemo} U.S. Postal 'Service'
[13:35] {nemo} Telephone 'Service'
[13:35] {nemo} Cable TV 'Service'
[13:35] {nemo} Civil 'Service'
[13:35] {nemo} State, City, County & Public 'Service'
[13:35] {nemo} Customer 'Service'
[13:35] {nemo} This is not what I thought 'service' meant
[13:35] {nemo} But today, I overheard two farmers talking,
[13:35] {nemo} and one of them said he had hired a bull to 'service' a few cows.
[13:35] {nemo} BAM!!! It all came into focus.
[13:35] {nemo} Now I understand what all those agencies are doing to us.
[13:35] {nemo} Now you are as enlightened as I am.
[13:36] {ese} ha ha ha.....perfect
[13:36] {fernp} lol
[13:36] {cosmo} yea... its some cult terminology after al ...sheesh
[13:36] {cosmo} all
[13:39] {nemo} Vad WFC long if it breaks .60?
[13:39] {nemo} damn missed it
[13:39] {Threei} wait for pullback
[13:40] {nemo} I ain't no hero
[13:40] {Threei} this starts feeling like new leg up is forming
[13:40] {Threei} market sat quietly
[13:40] {Threei} discouraged longs
[13:40] {Threei} now starts new assault on encouraged shorts
[13:40] {nemo} Figures, gotta' leave soon
[13:41] {nemo} woulda' been a nice sclap
[13:41] {nemo} scalp
[13:41] {Threei} yes but market spike came out of nowhere
[13:41] {Threei} was impossible to anticipate
[13:42] {Threei} what we can do though is use it as an indication of intentions
[13:43] {cosmo} its the nature of the service...
[13:43] {Threei} .60 is support now
[13:43] {Threei} pullback closer to is should be an entry
[13:44] {Threei} in
[13:44] {Threei} for scalpers stop under .60
[13:44] {Threei} for a day trade,, under .50
[13:47] {dino} cmtl stopped
[13:51] {nemo} out
[13:52] {Threei} JPM CEO: TIME FOR 'NEW IDEAS' IS OVER; MORTGAGE MODIFICATION PLAN IS 'APPROPRIATE' - Q&A
[13:52] {Threei} PREVIEW: FEB MONTHLY BUDGET STATEMENT DUE OUT AT 2PMET
[13:52] {Threei} **consensus expectation: -$205Be v -$175.6B
[13:52] {nemo} I'll bet their's a negotiation to save their asses if they agree to that
[13:53] {nemo} That is...in the new regulatory framework
[13:55] {Threei} market is hesitating before the budget statement
[13:55] {Threei} if number is any good, should explode
[13:55] {nemo} Don't think it will be or they would have leaked it
[13:55] {Threei} I use "good" in a very loose sense
[13:55] {nemo} understood...back to the leper only losing a toe today
[13:56] {Threei} right
[14:00] {Threei} half out WFC
[14:00] {Threei} *FEB MONTHLY BUDGET STATEMENT: -$192.8B V -$205BE
[14:02] {Threei} hmmm... I'd expect more from that
[14:02] {nemo} no trust
[14:03] {nemo} Cat looks like it might want to go short
[14:04] {Threei} out WFC second half .79
[14:04] {nemo} Actually, multiply those numbers by 12, maybe that's what sunk in.
[14:05] {Threei} +.16
[14:05] {Threei} this is pathetic
[14:06] {nemo} That's better than a 2 trillion $ deficit
[14:07] {nemo} greater, that is
[14:07] {Threei} FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS
[14:07] {Threei} who said it was?
[14:09] {nemo} Notice how disjointed the news is getting?
[14:09] {Threei} state of high confusion?
[14:09] {nemo} Yes...
[14:11] {nemo} anybody take that CAT short?
[14:11] {Threei} gotta try another scalp on WFC, using FAS as lead
[14:12] {Threei} in .57
[14:13] {Threei} funny stop, .54
[14:16] {Threei} nope
[14:17] {Threei} FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS
[14:17] {Threei} - Admits there "are some problems" with fair-value accounting.
[14:17] {Threei} - Plans to offer guidance very shortly on whether market is "active or inactive."
[14:21] {Threei} so, all their blabbing took market negative so far
[14:21] {Threei} aren't they good at it
[14:34] {Threei} time for eod projections
[14:34] {Threei} mags?
[14:34] {magoo} down
[14:34] {Threei} dino, got an input?
[14:35] {nemo} flat
[14:35] {dino} down big tomorrow
[14:35] {nemo} but one could argue flat is down
[14:35] {dino} or up is down on opposit day
[14:36] {nemo} an here comes the rally
[14:36] {Threei} thwe what?
[14:36] {dino} maxim hot 100 on vh1
[14:36] {nemo} 'ally
[14:37] {dino} alxn
[14:37] {cosmo} followed by the intictments...
[14:37] {Threei} lol
[14:37] {cosmo} then more 'ally
[14:37] {nemo} then the prez
[14:39] {magoo} going to restroom to see if push mkts up
[14:41] {Threei} that's one wasted restroom trip
[14:41] {nemo} probably not from mags point of view
[14:42] {magoo} bacxk
[14:42] {magoo} ALRIGHT
[14:42] {cosmo} wtg
[14:45] {nemo} RIM if breaks 40.10?
[14:45] {dino} airm
[14:45] {nemo} RIMM
[14:46] {Threei} CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC
[14:46] {Threei} squeze or fizzle?
[14:47] {Threei} not delighted by idea of buying RIMM after this spike
[14:47] {Threei} if consolidatwes a bit and then breaks, maybe
[14:48] {nemo} even if it breaks resistance?
[14:48] {Threei} it spiked into resistance
[14:48] {nemo} spikes just to sporadic?
[14:48] {nemo} no, if it get's through resistance?
[14:49] {Threei} I don't buy break of resistance if a stock spiked into it
[14:49] {nemo} o.k. cool
[14:49] {dino} profitable in what line of business, i don't buy it
[14:49] {nemo} excuse me Dino?
[14:50] {Threei} if it goes through consolidation etwee, 40.10 and some support close enough, then it's a buy
[14:50] {nemo} understand, break through, retreat a bit, hang around for awhile, then go?
[14:51] {dino} jpm profitable nemo
[14:51] {nemo} oh, but was that Dimon saying that?
[14:51] {dino} [14:46] {Threei} CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC
[14:52] {nemo} Well, if they aren't then that's putting his head in a noose along with the Citi guy. However, this is the last week they can sell stock before they go into the earnings black-out period
[14:53] {nemo} Look at FAS WFC RIMM, poling around resistance
[14:53] {Threei} WFC retreats
[14:54] {Threei} FAS too
[14:54] {nemo} FAS too...maybe
[14:54] {Threei} RIMM looks a bit better
[14:54] {Threei} but needs another market spike
[14:56] {cosmo} HPQ hod =28.80 fyi
[14:57] {magoo} vad..what was yours?up downfat
[14:57] {Threei} problem with all this moves here is, they are good for 5-7 cents scalps
[14:57] {nemo} yeah, great for the broker
[14:57] {Threei} yeah
[14:57] {Threei} down mags
[14:57] {Threei} I will be very surprized if we go up into close
[14:58] {Threei} pleasantly surprized
[14:58] {Threei} so far, it's not a market to buy 5K on a few stocks and fall asleep for hald of the day
[14:58] {Threei} half
[14:58] {nemo} how about 10 minutes
[14:59] {Threei} not even that
[14:59] {Threei} we will be there
[14:59] {nemo} Markets RIMM looking weaker
[14:59] {Threei} and those will be the days of the easiest money in months if not years
[15:00] {Threei} but to get there we will go through some more struggle
[15:01] {cosmo} new currency maybe
[15:01] {nemo} O.K. Moses
[15:03] {nemo} WFC back at resistance
[15:03] {nemo} C&H almost
[15:03] {Threei} same for FAS
[15:03] {Threei} RIMM should do a quick trip down now, to around .10
[15:04] {Threei} should be good for a scalp
[15:04] {Threei} US REP BOUCHER: TO PURSUE REGULATIONS ON INTERNET COMPANIES FOR PRIVACY RIGHTS
[15:05] {cosmo} rights for whom?
[15:05] {Threei} no idea
[15:05] {cosmo} exactly
[15:08] {cosmo} HPQ tests
[15:08] {cosmo} soon
[15:09] {Threei} US PRESIDENT OBAMA FORMALLY SIGNS $410M OMNIBUS BILL TO FUND GOVT OPERATIONS THROUGH SEPT
[15:10] {dino} v stop to .95 all dayer
[15:12] {dino} surprised he wasn't on tv for it
[15:12] {Threei} 3 times today
[15:12] {Threei} 4th would be a record
[15:13] {nemo} He's gonna give slick willie a run for his money as a camera hound
[15:14] {cosmo} he's got an easy act to follow...
[15:14] {cosmo} .. for now
[15:15] {nemo} look at this run
[15:15] {cosmo} 'un
[15:15] {nemo} 'ally
[15:16] {dino} out v .05, +.55
[15:16] {Threei} bigger pullback this time
[15:17] {nemo} back to the river Styx
[15:20] {dino} pcln stop to .50
[15:21] {cosmo} QQQQ 28 in sight
[15:21] {Threei} looks like all pullbacks are entries
[15:21] {dino} to .75
[15:22] {dino} out .80, +.70 hours
[15:22] {Threei} WFC around .05 - .07
[15:23] {Threei} if the pattern holds
[15:23] {nemo} IF? sheesh
[15:23] {cosmo} off to the 'aces?
[15:24] {nemo} I'm the wrong person to ask
[15:24] {Threei} in .08
[15:24] {dawg} in .07
[15:24] {dawg} half lot
[15:26] {Threei} tried to exit half at .15, didn't get a hit
[15:26] {dawg} nada
[15:27] {magoo} in 09
[15:27] {dino} you guys really don't want chaeron here
[15:27] {Threei} not until he rfemembers his password
[15:28] {Threei} doesn't look encouraging
[15:29] {Threei} out
[15:29] {nemo} no had the same formation between 14:40 and 14:50
[15:29] {dawg} out
[15:34] {nemo} This really isn't a bad market day after the insane run up yesterday. The financials are basically up again.
[15:34] {nemo} It might be a lie, but...
[15:35] {nemo} volume a tad light, but for a "consolidation" day...might make sense
[15:36] {Threei} I agree
[15:37] {nemo} Good...I'll go put the order in for the Lamborghini :)
[15:37] {nemo} At my local model shop, that is...
[15:39] {nemo} Gotta' go. WFC wegdging through 12
[15:39] {nemo} wedging
[15:40] {Threei} dawg... thing is laughing at us
[15:40] {cosmo} Qs test
[15:41] {cosmo} sorta late....
[15:41] {dawg} yessir i agree
[15:42] {Threei} freakishly empty day for me
[15:42] {Threei} win here stop there
[15:42] {dawg} same
[15:43] {Threei} looking at the amount of shares I tarded today,
[15:43] {Threei} broker must be sending flowers to me just about now
[15:43] {Threei} and I have nothing to show for it
[15:43] {dawg} same
[15:43] {dawg} here
[15:43] {Threei} 90K shares
06[15:45] * Threei slaps laserdave around a bit with a large roll of cash
[15:49] {laserdave} hey thanks
[15:49] {laserdave} needed that
[15:49] {Threei} market really must be changing
[15:49] {Threei} I have these days of read being so lukewarm when some underlying currents change
[15:50] {dino} 1/4 here vad
[15:50] {Threei} 1/4?
[15:50] {dino} of daily, lasts all today, yesterday 2x
[15:50] {Threei} oh
[15:51] {Threei} I am flat out flat
[15:51] {dino} thought it was me, hot and cold all day
[15:51] {Threei} but scared to even look at commissions
[15:51] {Threei} and ECN passthroughs
[15:52] {cosmo} and other taxes
[15:52] {Threei} what taxes?
[15:52] {dino} {10k for me no biggie
[15:52] {cosmo} oops...getting ahead
[15:52] {Threei} way ahead
[15:52] {Threei} I swore off taxes until 1 day after my death
[15:53] {dino} good luck w/that, they will come looking for you
[15:53] {dptl} ok...have a good evening all...
[15:54] {Threei} on that day? They are totally welcome
[15:54] {Threei} take care dp
[15:54] {dino} believe me, before that day
[15:55] {dino} heck of a sell off
[15:55] {Threei} I am sure they'll be sympathetic when I explain that I am trying to quit all bad habits
[15:56] {Threei} and paying taxes is number one on my list
[15:56] {Threei} I'll get to smoking as soon as I defeat this one
[15:56] {cosmo} watch out for the helicopters 3i
[15:57] {Threei} they need to work with me by trying to deal with their addiction to my taxes as well though
[15:57] {Threei} and I am not sure they are very good at it
[15:58] {Threei} FAS closes differently today
[15:58] {Threei} yesterday it closed at the highg
[15:58] {Threei} today retreated half way
[15:59] {Threei} not taking it overnight
[15:59] {Threei} DJI +5
[16:00] {Threei} as laughable as it is, second green day in a row
[16:00] {Threei} okay guys
[16:00] {Threei} trying day
[16:00] {cosmo} tomorrow looks good tho
[16:00] {Threei} thank you all
[16:00] {Threei} have a good evening
[16:01] {Threei} see you tomorrow
[16:01] {fernp} ty Vad, Good evening all
[16:01] {vint} good evening all, see u all tomorrow
