Beautiful day. We recognized signs of rally brewing early which is not always easy after a big gap up. Long plays only, 5 wins out of 6 early calls on FAS, BAC, WFC, HIG. Sat out some boring period while market consolidated, then got some more longs on RIMM and WFC. No complaints at all.
Session Time: Mon Mar 23 00:00:00 2009
[08:00] {Threei} Good morning sleepless souls
[08:00] {Threei} (US) WHITE HOUSE ADVISOR: 8% OF FUNDING FOR TOXIC ASSET PLAN TO COME FROM PRIVATE SECTOR
[08:00] {Threei} - Toxic asset plan to be one piece of strategy, will see if banks need more capita
[08:00] {Threei} FORMER SEC CHAIRMAN LEVITT: PPIP PLAN IS 'A LOT OF THE SAME'
[08:00] {Threei} - PPIP is at best not guarantee for success
[08:05] {nemo} FAS!
[08:06] {Threei} Geithner is on at 8:45
[08:06] {Threei} with details of the plan
[08:07] {nemo} Things are rocketing out of the gate...wonder if that'll be a speed bump.
[08:30] {Threei} if you are interested in deeper understanding of new plan by Terrific Tim, this is nice explanation:
[08:30] {Threei} http://seekingalpha.com/article/127152-the-geithner-plan-faq?source=article_sb_popular
[08:30] {laserdave} im in laser now guys
[08:31] {Threei} thanks Dave, in too
[08:31] {laserdave} cool
[08:31] {laserdave} now lets make some monies
[08:31] {Threei} well, with such gaps, gotta wait a bit
[08:33] {nemo} I'm still having trouble getting in
[08:33] {Threei} slap dave?
06[08:34] * nemo slaps laserdave around a bit with a large empty roll of cash because I can't get into LASER!!!
[08:34] {nemo} that might not hurt enough
[08:36] {laserdave} everyone is in
[08:37] {nemo} yep
[08:37] {laserdave} are you saying you are in now?
[08:37] {nemo} That's a roger
[08:37] {laserdave} ok great
[08:37] {laserdave} happy trading
[08:41] {Threei} poor FAZ
[08:47] {Threei} welcome back Larisa!
[08:47] {larisa} good morning, thanks :)
[08:48] {larisa} you guys having fun ?
[08:48] {Threei} too much of it
[08:50] {pita} morning everyone
[08:51] {Threei} pita :)
[08:53] {Threei} just don't jump on financials here guys
[08:53] {Threei} the risk of gap and trap is huge
[08:57] {magoo} morning
[08:58] {Threei} magoo :)
[08:58] {dptl} good morning
[08:58] {Threei} dp :)
[08:59] {magoo} u in pre mkt vad?
[08:59] {Threei} PIMCO'S BILL GROSS: INTERESTED IN POTENTIAL DOUBLE DIGIT RETURNS FROM TREASURY'S TOXIC ASSET PROGRAMS
[08:59] {Threei} - Notes that will participate in the toxic asset program
[08:59] {Threei} - Adds that toxic asset plan should be welcomed by the markets
[08:59] {Threei} in what?
[09:00] {magoo} anything?
[09:00] {Threei} US TREASURY GEITHNER: STRESS TEST, ACCESS TO MORE CAPITAL WILL REDUCE ODDS OF DEEPER RECESSION
[09:00] {Threei} no
[09:03] {Threei} [08:53] {Threei} just don't jump on financials here guys
[09:03] {Threei} [08:53] {Threei} the risk of gap and trap is huge
[09:04] {fernp} Hello everybody
[09:04] {Threei} fern :)
[09:06] {Threei} - Notes plans will assist in clearning balance sheets for banks and improve lending; Govt could not purchase assets on its own
[09:06] {Threei} - Aims to reduce additional asset price declines; may see large deleveraging without the plan{XLF TLT IEF USD/JPY GBP/USD EUR/USD}
[09:10] {Threei} BALTIC DRY BULK INDEX -0.5%, 9TH STRAIGHT DECLINE
[09:11] {elepet} I don't understand this (baltic down) components seem to be up today.
[09:11] {Threei} headline on CNN says: How the bank rescue plan will work
[09:12] {Threei} as if it was a given that it will :)
[09:12] {Threei} well, stocks of shippers are up on generak market strength
[09:12] {magoo} a few on cnbc very skeptcal
[09:12] {Threei} baltic index is not a market index
[09:13] {Threei} it's reflection of physical shipment numbers
[09:13] {magoo} obama news conf tues nite tv, was on 60 minutes last nite...hes a movie star
[09:13] {dino} gm all
[09:13] {Threei} dino :)
[09:13] {magoo} jay leno over weekend
[09:13] {elepet} oh. thanks.
[09:14] {magoo} i hear he is going to be on the next "\dancing with the stars "
[09:15] {dino} lol
[09:15] {Threei} gap is mostly holding
[09:15] {Threei} so, usual question with large gaps:
[09:15] {dino} fade
[09:15] {cosmo} gap needs a stress test
[09:16] {Threei} fade, locked into narrow range or continuation
[09:17] {Threei} more or less readable scenario would be:
[09:18] {Threei} opening around here,
[09:18] {Threei} forming narow range,
[09:18] {Threei} then break of the high and start of slow confident climb
[09:19] {Threei} if that happens, we are in for a nice gains
[09:19] {Threei} if opening is hectic with wide ranges, will have to wait it out
[09:19] {pita} watching anything in particular?
[09:19] {Threei} financials
[09:19] {Threei} FAS, BAC,
[09:19] {Threei} WFC'
[09:20] {Threei} HIG
[09:20] {Threei} PRU
[09:21] {Threei} let's be patient on the open, this kind of gap can present very unpleasant surprises for premature entries
[09:22] {vint} good morning all
[09:22] {Threei} vint :)
[09:24] {Threei} TREASURY SEC GEITHNER: CAN'T JUDGE AT THIS TIME IF MORE FUNDING WILL BE NEEDED TO STABILIZE THE FINANCIAL SYSTEM
[09:24] {Threei} - Not asking for more money at the current time
[09:24] {Threei} - Will continue to work with Congress to insure that enough funds are allocated
[09:24] {Threei} - Has seen broad support across countries for continued financial reform
[09:24] {Threei} - Other countries will follow US example and provide direct support for credit markets
[09:26] {Threei} useless observation:
[09:27] {Threei} WFC formed premarket C&H with .85 resistance, .60 support
[09:29] {ese} morning...... late to the party
[09:29] {Threei} ese :)
[09:30] {Threei} ok... let's see if we get pullback and how deep
[09:30] {nemo} huh, LASER just crapped out
[09:31] {Threei} fine here
[09:31] {Threei} BAC topped out just under .40
[09:31] {Threei} FAS .24
[09:32] {Threei} first try:
[09:32] {Threei} Long Setup: FAS .11 if holding above 6
[09:33] {Threei} invalidated
[09:34] {nemo} My LASER not working
[09:34] {Threei} Long Setup: BAC .21 if holding above .15
[09:34] {magoo} try new quoteserver
[09:36] {Threei} FAS modification: long .861 if holding above .80
[09:36] {Threei} US TREASURY SPOKESPERSON: NEW PUBLIC/PRIVATE PARTNERSHIP PROGRAM IMPLEMENTATION WILL BE FASTER THAN THE TALF PROGRAM IMPLEMENTATION
[09:36] {nemo} see you guys in a while. I have to reboot
[09:36] {magoo} c u
[09:36] {Threei} BAC becomes interesting here for bounce
[09:37] {Threei} .06
[09:37] {Threei} if holsding above 7
[09:37] {Threei} FAS, half out or scalp
[09:38] {Threei} BAC half out or scalp
[09:38] {Threei} if taking half, stop to under b/e
[09:38] {ese} CETV dino?
[09:40] {Threei} BAC, feel free to take full profit if spikes to around .30 - .35
[09:40] {Threei} FAS .15 - .20
[09:41] {Threei} trail stops:
[09:41] {Threei} BAC to under .10
[09:42] {Threei} FAS to under 5.90
[09:43] {vinod} GM
[09:43] {Threei} morning vinod
[09:43] {dino} online ed's not participating
[09:44] {Threei} OK, both are done for now
[09:44] {Threei} gotta reevaluate
[09:44] {Threei} and let them form new setups
[09:44] {nemo} How many trades I miss?
[09:44] {Threei} 2
[09:44] {Threei} US TREASURY SEC GEITHNER: DANGER AT THE MOMENT IS THAT FINANCIAL SYSTEM WILL NOT TAKE ENOUGH RISK; PLAN WILL REDUCE CHANCES OF DEEPER RECESSION; NO DOUBT THE PLAN TAKES A RISK, BUT CONFIDENT THE PLAN PROVIDES BALANCED INCENTIVES - PRESS BRIEFING
[09:44] {Threei} - Notes plans will assist in clearing balance sheets for banks and improve lending; Govt could not purchase assets on its own
[09:44] {Threei} - Aims to reduce additional asset price declines; may see large deleveraging without the plan
[09:44] {Threei} - Believes govt can move and react 'quite quickly'
[09:44] {Threei} - Not willing to make decision at current time regarding additional funding needed for Treasury
[09:45] {Threei} talking heads keep talking and distort the movement
[09:46] {Threei} BAC looks relatively stronger
[09:50] {Threei} hard to tell yet whether it's a last pullback before rally rewsumption, or we simply fizzle out here
[09:50] {dino} wmt, mcd not moving
[09:50] {Threei} Long Setup: BAC .11
[09:51] {Threei} if stays above .05
[09:51] {Threei} invalidated
[09:52] {Threei} looks like fizzle out takes over
[09:53] {nemo} RIMM is strengthening
[09:53] {dino} hmmmm, gap fill in the making?
[09:54] {Threei} hard to tell still
[09:56] {dino} not ready to bet it yet
[09:56] {wulff} seems like we are building to a bounce
[09:57] {Threei} Long Setup: WFC .45 if stays above .35
[09:57] {magoo} in
[09:59] {Threei} over 1:1, half out or scalp
[09:59] {dino} shlm
[09:59] {dino} uthr
[09:59] {wulff} scalp ty
[10:00] {Threei} *FEB EXISTING HOME SALES:4.72 M V 4.45ME
[10:00] {Threei} wow
[10:00] {Threei} crisis is over
[10:00] {Threei} umm
[10:00] {Threei} I guess
[10:00] {Threei} WFC babay
[10:01] {magoo} out .76 TY
[10:01] {Threei} out too
[10:01] {Threei} .78
[10:01] {vint} good one WFC, thx
[10:01] {Threei} welcome
[10:02] {magoo} nice vad
[10:02] {Threei} wastching HIG for pullback entry
[10:02] {Threei} 8.25 zone
[10:03] {Threei} don't be in a rush to jump in, this market still has to prove itself
[10:04] {Threei} untill we get that steady confident buying, we are operating on the assumption that rally will be faded
[10:04] {magoo} STT maniac today
[10:04] {Threei} today?
[10:04] {Threei} it's maniak, period
[10:04] {magoo} yea..agree
[10:04] {Threei} HIG is getting there
[10:05] {Threei} still weakness in the market
[10:05] {Threei} let's structure it this way:
[10:05] {Threei} .31 long if holding .25
[10:05] {Threei} 6 cents stop
[10:06] {Threei} reasonable enough
[10:06] {magoo} well..missed blew thruy
[10:07] {Threei} Long Setup: FAS 6.12 if holding above 6.05
[10:07] {Threei} or above 6 for a day trade
[10:08] {pita} HIG still good?
[10:09] {Threei} same setup from here
[10:10] {Threei} okay market
[10:10] {Threei} time to decide
[10:11] {Threei} as Tom Waits would say... we all want to know how its going to end
[10:12] {Threei} HIG here we go... offer half or take profit here who got it
[10:12] {pita} out ty
[10:12] {fernp} out ty
[10:13] {Threei} wecome guys... 4 for 4 so far
[10:13] {vint} out thx
[10:14] {pita} missed BAC, only 3 for 3 :(
[10:15] {Threei} can I be coarse and say "cry me a river"? :)
[10:15] {pita} cry cry cry
[10:15] {pita} thanks Vad
[10:15] {Threei} :)
[10:16] {Threei} consolidation...
[10:16] {Threei} feels like we are on a verge of march up beginning
[10:16] {magoo} out HIG .49 TY
[10:16] {Threei} welcome mags
[10:16] {magoo} i missed 1 also..he he
[10:16] {magoo} like 100% tho
[10:16] {Threei} why did I miss GE beautiful setup at .11
[10:16] {magoo} u need a 4th eye
[10:17] {Threei} no kidding
[10:17] {Threei} or I need to wake up those I have'
[10:17] {dino} wow, +260
[10:17] {magoo} or dish out assignments here..like give dawg a stock to watch
[10:17] {Threei} and no sign of slowing down
[10:17] {dino} 7566, 1225, 803 wed. highs
[10:18] {dino} out rick swing .35, +.40
[10:18] {nemo} out hig 2:1 ty
[10:18] {Threei} nemo :)
[10:18] {nemo} kick fas vad
[10:18] {Threei} FED'S ROSENGREN: FED HAS BEEN 'PROACTIVE'; RATE CUTS HAVE 'CUSHIONED' ECONOMIC SHOCKS
[10:18] {magoo} out there waiting on fas .21
[10:21] {Threei} very stingy play:
[10:21] {magoo} kickin it
[10:22] {Threei} Long Setup: GE .21 if stays above .15
[10:22] {Threei} in
[10:23] {fernp} in
[10:23] {Threei} semiagressive entry
[10:23] {vint} in
[10:23] {Threei} kind of counting on breakout at .26 to make it work
[10:23] {magoo} innnnnnnnn
[10:23] {Threei} with 6-7 cents stop, just a sin not to give it a chance
[10:24] {Threei} if this one fails, gotta back away
[10:26] {Threei} can you feel how market is trying to make up its mind here?
[10:29] {wulff} gappers want to close it
[10:29] {Threei} I hope it does while we are yuong
[10:30] {ese} patience if your there.....what are symbols for the currency ETF's that your trading
[10:31] {dino} es, i use udn, uup 2x's
[10:32] {Threei} PALM
[10:32] {Threei} DIGITIMES REPORTS TAIWAN HANDSET MAKER DELAYING SHIPMENTS OF SMARTPHONES TO PALM FROM MID-YEAR TO THE END OF THE YEAR
[10:32] {Threei} - also reports Taiwan's Compal Communications says smartphone orders from Motorola cut substantially{MOT}
[10:32] {ese} tks
[10:33] {Threei} hmmm
[10:33] {Threei} not sure why PALM moves up on that, lol
[10:34] {wulff} this GE base tradeable?
[10:34] {Threei} ?
[10:35] {wulff} seems more likely to fall now
[10:35] {Threei} not sure what you mean
[10:35] {Threei} well,
[10:35] {Threei} if uncomfortable with it, just scratch it
[10:35] {Threei} it's practically flat
[10:36] {wulff} scratch what?
[10:36] {Threei} with stop .14 I am willing to let it trade
[10:36] {Threei} existing position
[10:36] {magoo} out fas TY
[10:36] {magoo} took .19
[10:36] {Threei} [10:22] {Threei} Long Setup: GE .21 if stays above .15
[10:36] {magoo} fl
[10:36] {Threei} welcome mags
[10:37] {Threei} you missed that call wulff?
[10:37] {wulff} no was just skittish with a that base forming
[10:42] {Threei} with all the impressive gainst, most of them are in the gap
[10:42] {Threei} so actual after-opening move is modest
[10:43] {Threei} which explains why we are getting scalping profits mostly
[10:44] {ese} L JNPR 3/4 .87
[10:46] {magoo} .
[10:47] {Threei} beconsiderate of your sleeping comrades magoo
[10:48] {magoo} got some weird message
[10:48] {Threei} hmmm
[10:48] {magoo} thought i was discombobulated
[10:49] {Threei} stop browsing those porn sites
[10:49] {magoo} but when i do mkts go up..i find it offensive, but anything for the trading group
[10:49] {Threei} ah
[10:50] {dino} sm s dia .35
[10:51] {Threei} market is jittery here
[10:52] {Threei} not sure why, no news that I see
[10:52] {wulff} its me I'm sure
[10:52] {Threei} wow... what power
[10:53] {nemo} RIMM VAD
[10:53] {Threei} forms break
[10:53] {ese} &^$#^ JNPR
[10:53] {Threei} whether it's playable or not, will totally depend on the market
[10:54] {Threei} if you like it for a break, stop would be under .85
[10:55] {ese} stopped out JNPR .69 -.18
[10:56] {dino} fwiw dia short, bstop is hod
[10:57] {Threei} prez remarks on clean energy at 12:30
[10:58] {dino} -.30 dia stopped
[10:58] {Threei} GE held by fingertips
[11:03] {Threei} IMO, the loner market lingers here, the better chance we have for rally
[11:03] {Threei} loner = longer
[11:08] {Threei} WHITE HOUSE'S SUMMERS: GRATIFIED ABOUT THE MARKET REACTION TO THE GEITHNER PLAN
[11:08] {nemo} What, the Wile E. Coyote reaction?
[11:08] {Threei} JAVA
[11:08] {Threei} HEARING CHATTER THAT IBM MAY DROP PLAN TO PURCHASE THE COMPANY
[11:08] {Threei} {IBM}
[11:08] {Threei} lol
[11:09] {Threei} does it go all the weay back to 5 then?
[11:10] {Threei} GE stopped
[11:11] {nemo} yeah, I scalped it
[11:11] {fernp} stopped too
[11:12] {dino} out cop call +53%
[11:13] {nemo} Vad, shouldn't you admonish Dino for indecent profits?
06[11:13] * magoo slaps dino around a bit with a large trout
[11:15] {Threei} I don't understand % nemo
[11:15] {Threei} so he is off the hook for now
[11:15] {dino} :)
[11:16] {wulff} like to see FAS +.20
[11:17] {dino} mind mixed up, i'm a seller high buyer low
[11:18] {nemo} huh?
[11:18] {dino} i can't buy these levels
[11:18] {nemo} because of the gap up?
[11:18] {Threei} market still looks like preparing another leg of rally, I just have troubles undetifying followers
[11:18] {Threei} financials cooled off
[11:19] {Threei} techs don't look very hot either
[11:20] {dino} nemo, just my style, my mind says i'm a seller higher
[11:21] {nemo} yeah, kicked myself in the ass when you made that comment about cnqr going down to x.xx on Friday. Thought after what a moron I was for not shorting it
[11:21] {Threei} US PENTAGON: AIMING TO FOCUS ON SENSORS AND CONTROL EQUIPMENT, NOT NECESARILY MISSILES
[11:23] {Threei} looked at CLNE as possible candidate on upcoming prez speech
[11:23] {Threei} daily looks nice but it trades by appointment
[11:24] {dino} why clne?
[11:24] {dino} nat. gas play
[11:26] {Threei} nat gas, wind, something else
[11:29] {dino} sm s spy .75, stop hod
[11:30] {dino} i might be wrong 3i, but clne is play on converting cars to nat gas
[11:30] {nemo} yes, I believe you're right dino
[11:31] {Threei} yes... so how is it not a clean eergy?
[11:31] {nemo} I was just affirming Dino's supposition, not denying your assertion
[11:32] {dino} qid sm l .85
[11:33] {vinod} wow!!! look like we going to reach 14000 on dow tomorrow?
[11:33] {wulff} no, wednesday
[11:34] {dino} lol
[11:35] {dino} obamination has saved the world by opening up he printing presses
[11:35] {dino} somehow i think this ends badly
[11:35] {nemo} Just get your wheelbarrow to fill with money to go buy a loaf of bread
[11:37] {magoo} vad lived thru that in days of tzar ..right vad
[11:38] {Threei} lol
[11:38] {nemo} ohoh
[11:38] {Threei} actually, in days of perestroika
[11:38] {Threei} there was period of hyperinflation
[11:39] {Threei} go to sleep with exchange rate 5,000:1, wake up to 9,000:1
[11:39] {dino} and you weren't short
[11:39] {Threei} to give you an idea:
[11:39] {Threei} within 1 year I made three purchases,
[11:39] {Threei} car for 6,000 roubles,
[11:40] {Threei} 6 monhs later nice cottage with garden beyond city limits for 12,000,
[11:40] {Threei} and 6 months later, VCR for 25,000
[11:40] {Threei} that's your inflation :)
[11:41] {wulff} that's let's move
[11:41] {dptl} lol...that was nice vcr Vad...
[11:42] {vinod} but it doesn't play po___
[11:44] {Threei} with two kids in the house, I wouldn't know... never tried :)
[11:45] {nemo} pong vinod?
[11:45] {Threei} anyone went for RIMM?
[11:46] {magoo} forgot about it
[11:46] {Threei} that's OK, let it be
[11:46] {Threei} not sure it has much, unless market totally explodes
[11:46] {magoo} aapl never even pulled back
[11:47] {Threei} netiehr did AMZN
[11:50] {dino} pressure building
[11:51] {Threei} and feels up
[11:51] {dino} hard bstops in
[11:53] {dino} stopped spy and qid
[11:56] {dino} ceco l .03
[11:56] {Threei} REPORTEDLY EXPLOSION SEEN AT PAKISTANI POLICE STATION IN THE CAPITAL, ISLAMABAD
[11:57] {dino} cedc l .00
[11:59] {Threei} lol... believe it or not but FAS reached 1:1
[12:00] {Threei} took just couple hours
[12:03] {dino} ceco stop to .13
[12:03] {dino} cedc is .86
[12:05] {cosmo} CLNE {=} PBW?
[12:07] {dino} ceco to .17
[12:07] {Threei} US PRESIDENT OBAMA: CONFIDENT TOXIC ASSET PLAN WILL WORK
[12:07] {Threei} - seeing some signs of hope in housing market
[12:07] {Threei} - economy still has long way to go but seeing some activiy in student and auto loan markets
[12:10] {dino} out ceco .19, +.16
[12:17] {cosmo} brcm
[12:34] {Threei} yawn
[12:35] {pita} ty for posting - thought I'd lost connection..........
06[12:36] * KSystems sneeks up behind Three
[12:36] {KSystems} BOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
[12:36] {Threei} lol
[12:47] {nemo} ok wulffy, do something about the market
[12:48] {wulff} does seem that my powers a waining
[12:48] {Threei} let's send magoo to a bathroom
[12:48] {Threei} prez on TV soon
[12:48] {magoo} ok..gotta pee anyway
[12:48] {nemo} he probably took the laptop in to surf the net anyway...if you know what I mean
[12:53] {Threei} US CONGRESSIONAL AIDES: HOUSE PANEL FORMULATING LEGISLATION TO UNWIND FAILING NON BANK FIRMS; COULD CONSIDER AN 'UNWINDING AUTHORITY' AT MARCH 31 BILL DRAFTING MEETING
[12:53] {Threei} {AIG MET PRU XLF}
[12:53] {Threei} unwinding authority eh
[12:54] {Threei} FAS goes for day high
[12:55] {dino} another govt "task force" in the making
[12:55] {Chaeron} we'll have 0% unemployment soon... everyone working for the govt... Hi all
[12:56] {Threei} we have too few of those
[12:56] {Threei} chaeron :)
[12:56] {dino} lol
[12:57] {dino} qid l sm .48
[13:01] {Threei} prez on TV
[13:03] {Threei} US TREASURY'S GEITHNER: BANKS WILL BEGIN RAISING NEW EQUITY SHORTLY, UNCLEAR WHAT TIME FRAME
[13:03] {Threei} - says must ensure that compensation issues do not deter investors; reiterates the Administration will work with Congress on the issue; says compensation reform must be part of regulation reform measures.{XLF AIG}
[13:05] {cosmo} i'd go for the Geologic time standard; it gets more done
[13:05] {dino} darn, can't borrow isrg at cyber
[13:06] {Threei} no clean energy stock even breathed
[13:06] {ese} outta here for the day.......spring break is over and it's back to work...take care
[13:06] {dino} cya es
[13:06] {Threei} take care ese
[13:06] {ese} see ya dino
[13:07] {dino} "banks raise equity", selling more shares
[13:08] {Threei} dino.. look at CNQR
[13:08] {dino} problem is fridays' drop in it
[13:09] {dino} could keep going to 22 area
[13:10] {Threei} BAC breaks out
[13:14] {Threei} FAS is finally +.20 from entry
[13:14] {Threei} who was looking for +.20?
[13:14] {Threei} wulff?
[13:14] {wulff} yes
[13:14] {Threei} there you go
[13:14] {wulff} I am wayyy long so fine
[13:15] {wulff} was going to get more,
[13:15] {wulff} but could not evaluate an entry
[13:15] {Threei} sure was tough
[13:15] {Threei} was locked in tight range for so long
[13:19] {Threei} day traders are weird creatures... imagine, normal invesotr looks at the end of day number, says "wow, +300, you had an exciting day"
[13:20] {Threei} you says, well, more like an hour
[13:20] {Threei} slept through the rest
[13:22] {dino} hmsy
[13:25] {Threei} (RU) RUSSIAN PM PUTIN: UKRAINIAN GAS DECLARATION WAS 'UNPROFESSIONAL'; WILL REVIEW EU TIES IF INTERESTS IN ENERGY ARE IGNORED
[13:25] {Threei} - Note: EU and Ukraine signed a joint declaration earlier today that they will modernize Ukraine's natural gas pipeline system, and should aim to double its gas storage, but suggested Russia should be included in the upgrades of the pipeline system. The Ukrainian President noted that it was open to gas discussions with Russia.{UNG}
[13:28] {dino} air pocket
[13:28] {Threei} is this sent market down so sharply??
[13:28] {Threei} is = has
[13:29] {dino} no
[13:29] {dino} didn't send oil/gas up
[13:29] {Threei} yeah, UNG downticked too
[13:30] {Threei} I'd expect it to explode if this headline had any material importance
[13:31] {dino} right, imo
[13:34] {Threei} wow
[13:34] {Threei} this is not something you see every day:
[13:34] {Threei} BOA/MERRILL ANALYST SUGGESTS SELLING FINANCIAL STOCKS INTO STRENGTH (TIMING UNCERTAIN)
[13:34] {Threei} *This story was originally posted to clients entitled to Global Equities
[13:35] {wulff} Boa recc. selling Boa?
[13:35] {Threei} forgive me for being cynic, but it rather sounds to me like "crap, looks like the bootom is in and we haven't loaded the truck full enough"
[13:37] {dino} out qid .98, +.50
[13:37] {Threei} wtg
[13:38] {dino} way soon, was laying out
[13:38] {Threei} BCS
[13:38] {Threei} ISHARES UNIT MAY HAVE REPORTEDLY GAINED A $6B BID FROM GOLDMAN SACHS - UNCONFIRMED REPORT
[13:39] {Threei} GE
[13:39] {Threei} MOODY'S LOWERS GE AND GE CC RATINGS TO AA; OUTLOOK STABLE
[13:44] {pita} day job - gl all
[13:44] {Threei} take care pita
[13:46] {dino} cya pita
[13:49] {Threei} GE
[13:49] {Threei} CEO IMMELT: MOODY'S ACTION NOT UNEXPECTED; SEES NO OPERATIONAL EFFECTS OR SIGNIFICANT FUNDING EFFECTS FROM DOWNGRADE
[13:51] {dino} lphi partial fill l .37
[13:56] {dino} hmsy lod
[14:00] {dino} hmmmm didn't expect that fill, sm l hmsy
[14:01] {dino} .05
[14:05] {wulff} I am leaving, so my ability to hold the market in place is gone.
[14:05] {Threei} awwww
[14:05] {Threei} can we offer you any incentive to stay?
[14:05] {wulff} Hopefully I was holding it down
[14:05] {Threei} on the other hand... why not get a pyullback and enter tonorrow
[14:06] {Threei} only with better typing, lol
[14:06] {wulff} sounds good. LAter
[14:06] {Threei} see you tomorrow wulff :)
[14:07] {dino} cya wuff
[14:16] {Threei} it's actually a frequent occurence for a market to become narrow and lifeless after a big gap, but sheesh
[14:16] {Threei} we are lucky we got those early plays
[14:17] {Threei} 5 out of 6, I can live with that
[14:31] {magoo} nice work boss
[14:31] {Threei} huh?
[14:32] {Threei} whatcha talking about?
[14:32] {magoo} [14:17] {&Threei} 5 out of 6, I can live with that
[14:32] {Threei} gosh... I long forgot
[14:32] {magoo} lol
[14:32] {Threei} my memory span is 2 min
[14:32] {Threei} and notice, it's 6 times longer than fish
[14:33] {Threei} WFC... .20 zone is probably bounce-worthy
[14:35] {magoo} aint gonna pullbk
[14:37] {Threei} US CREDIT UNION REGULATOR FRYZEL: IN TALKS WITH LAWMAKERS ABOUT CREATING CORPORATE STABILIZATION MECHANISM
[14:38] {Threei} another commission I assume
[14:38] {Threei} BAC... C&H on intraday
[14:39] {Threei} with 7.40 break level
[14:39] {dino} 2 were taken over friday, credit unions
[14:39] {dino} failed i mean
[14:39] {Threei} (FR) FRENCH PM FILLON: DO NOT WANT TO CREATE A BUBBLE IN PUBLIC DEBT
[14:39] {Threei} ummm... maybe a bit too late for that?
[14:42] {dino} hmsy stop to b/e dead
[14:44] {dino} stopped waiting buck lower
[14:52] {Threei} FAS pullback to .40 for entry
[14:52] {Threei} looks like last hour can brign us frenzy buying
[14:53] {Threei} WFC perfect pullback to .20 btw
[14:53] {Threei} anyone got it?
[14:56] {dino} hmsy l .03
[15:06] {magoo} i took ms off your call on wfc
[15:07] {Threei} must have worked, since i haven't seen you cursing
[15:08] {magoo} i let it pullbk {AKA bac}..then scalped out
[15:08] {magoo} just to tired to type it'
[15:09] {Threei} http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE52M4SS20090323
[15:09] {Threei} not that I was delighted by Krugman's plan... but his critisism of the current one makes sense
[15:15] {magoo} RIMM vad
[15:16] {Threei} .50 break?
[15:16] {Threei} with stop under .35?
[15:16] {magoo} yea
[15:17] {magoo} yup
[15:17] {Threei} US SENATOR COLLINS(R) PROPOSES LEGISLATION FOR A SYSTEMIC RISK MONITOR
[15:17] {Threei} {XLF}
[15:17] {vint} in
[15:17] {magoo} thinkin .70 area
[15:25] {Threei} BARTON BIGGS: US STOCKS 'ATTRACTIVE', BULLISH O0N EMERGING MARKETS (TIMING UNCERTAIN)
[15:25] {Threei} - likes largecap tech companies{EEM SMH}
[15:26] {cosmo} institutional blocks will ring the bell
[15:26] {cosmo} imho
[15:28] {dptl} have a good evening all
[15:28] {Threei} take care dp
[15:29] {Threei} GS
[15:29] {Threei} MAY REPORTEDLY SELL STAKE IN CHINA BANK ICBC IN EFFORTS TO PAY BACK TARP CAPITAL - WSJ
[15:30] {Threei} +411
[15:30] {Threei} half out RIMM here?
[15:31] {magoo} im waiting .76
[15:31] {Threei} took its sweet time
[15:31] {magoo} yea..rude
[15:31] {Threei} FAZ new 52 low
[15:31] {cosmo} didn't china bank just buy yusemite?
[15:31] {magoo} kickin it
[15:32] {Threei} what price will they meet at?
[15:32] {Threei} FAZ and FAS
[15:32] {magoo} half out vad
[15:32] {magoo} stop .49
[15:33] {Threei} :)
06[15:34] * magoo slaps laserdave around a bit with a large trout
[15:34] {vint} my guess is @10, fas/faz
[15:35] {Threei} feels about right
[15:36] {magoo} skf down 27 points......yikes
[15:37] {magoo} just once in my life i wanna have 200,000 shares of something that rips 27 points IN MY FAVOR
[15:37] {Threei} UPDATE: FEDS LOCKHART: TREASURIES COULD BE EASIER TO UNWIND FROM BALANCE SHEET WHEN EXIT IS RIGHT; DECISION TO PURCHASE TREASURIES WAS DUE TO WORSENING OUTLOOK
[15:39] {Threei} RIMM 1:2
[15:40] {Threei} CNQR
[15:40] {Threei} SAYS PRESIDENT RAJEEV SINGH ALSO MADE AN INCORRECT DEGREE CLAIM
[15:40] {Threei} - President Rajeev Singh recieved a degree from Western Michigan
[15:40] {Threei} lol
[15:40] {Threei} market ends on giddy note
[15:41] {Threei} FAS is asking itself: can I hiot 7 today?
[15:41] {cosmo} there's a difference between buying panic and euphoria....i would think
[15:44] {Threei} they way today developed and ends, barring overnight news we should get gap up
[15:45] {magoo} yeah..but gap up is gonna be scary
[15:45] {magoo} themn tank?
[15:45] {cosmo} ...last 5 min is key
[15:45] {magoo} rimm got .89 btw
[15:45] {Threei} nice
[15:45] {magoo} not me..but made it
[15:46] {vint} RIMM was nice one
[15:50] {Threei} FAS answers confidently to that self-imposed question
[15:51] {Threei} big gap, consolidation, break and crawl up all day
[15:51] {Threei} every time market does this it amazes me
[15:52] {Threei} so brilliantly counter-intuitive
[15:52] {cosmo} it'll learn
[15:53] {Threei} 7 FAS1 cent shy of
[15:53] {Threei} ummm
[15:53] {Threei} lol
[15:53] {Threei} FAS 1 cent shy of 7
[15:55] {Threei} very confident ending
[15:55] {Threei} this is far from over
[15:55] {cosmo} the day is young
[15:55] {Chaeron} so 6600 was the bottom?
[15:55] {Threei} so far
[15:55] {Threei} who can tell these days a bottom from the bottom
[15:56] {magoo} my best day of year..up 96K
[15:56] {magoo} minus 93K
[15:56] {Threei} now, what do you think about this
[15:56] {Threei} [13:34] {Threei} BOA/MERRILL ANALYST SUGGESTS SELLING FINANCIAL STOCKS INTO STRENGTH (TIMING UNCERTAIN)
[15:56] {Threei} [13:35] {Threei} forgive me for being cynic, but it rather sounds to me like "crap, looks like the bootom is in and we haven't loaded the truck full enough"
[15:57] {Threei} you are up 96K today magoo?
[15:58] {magoo} yeah...minus 93k
[15:59] {magoo} he he
[15:59] {Threei} that's complicatd
[15:59] {Threei} my math abilities are not that advanced
[15:59] {Threei} +500
[15:59] {magoo} mine either..dino helps me figure it out
[15:59] {Threei} DJI
[15:59] {Threei} okay guys
[15:59] {Threei} thank you all
[16:00] {Threei} have a good evening, see you tomorrow
[16:00] {magoo} tomorrow gonna be harder
[16:00] {magoo} TY bass
[16:00] {vint} see u all
