Morning was very nice with all the usual plays: FAS, BAC, WFC, GE longs. We did catch a whiff of reversal and shorted FAS and GE but unfortunately limited ourselves to scalping profits.
Session Time: Wed Mar 25 00:00:00 2009
[07:29] {nemo} Haroo
[08:21] {Threei} Good morning
[08:22] {i2romantis} morning vad
[08:22] {Threei} i2r :)
[08:29] {cosmo} DRYS trys
[08:30] {nemo} cosmic :)
[08:30] {Threei} *FEB DURABLE GOODS ORDERS: -+3.4% V -2.5%E;
[08:30] {cosmo} :)
[08:30] {nemo} Vad what does "-+3.4%" mean
[08:30] {cosmo} .78 so far
[08:31] {Threei} FEB DURABLE GOODS ORDERS: +3.4% V -2.5%E; DURABLES EX-TRANSPORTATION: +3.9% V -2.0%
[08:31] {Threei} - Prior Durables revised from -4.5% to -7.3% (second revision)
[08:31] {Threei} - Prior Durables Ex Transportation revised from -3.0% to -5.9% (second revision)
[08:32] {Threei} steady stream of improving economic indicators lately
[08:43] {vinod} good morning to all
[08:44] {Threei} vinod :)
[08:45] {fernp} Hello everybody
[08:45] {nemo} morning
[08:45] {Threei} RBS ANALYSTS SEE THE ECB MAKING A 50BPS CUT TO THE PRIME POLICY RATE AT THEIR APRIL MEEING
[08:45] {Threei} fern, nemo :)
[08:48] {Threei} be back in 5
[08:55] {pita} Hi all
[08:55] {Threei} pita :)
[08:56] {dino} gm all
[08:57] {Threei} dino :)
[08:57] {Threei} wow
[08:57] {Threei} you connected without torture today?
[08:57] {larisa} good morning :)
[08:57] {Threei} larisa :)
[08:57] {magoo} kjhsdakeafhkddak
[08:58] {Threei} mags :)
[08:58] {dino} me?
[08:58] {Threei} yes
[08:59] {dino} i lost the old way on a security upgrade. using the internet
[08:59] {dino} no slapping
[09:06] {ese} morning
[09:06] {Threei} ese :)
[09:06] {Threei} BAC and WFC look the strongest among finnies
06[09:07] * magoo slaps laserdave around a bit with a large trout
[09:07] {magoo} sigh
[09:07] {Threei} morning warm-up?
[09:07] {magoo} i miss when we all were childish and slap fest
[09:08] {i2romantis} FAS moving well so far
[09:08] {Threei} yup
[09:13] {cosmo} TIBX
[09:13] {magoo} vad..new NEWS RIMM?
[09:13] {dino} sssssssssssssssslap
[09:13] {magoo} ok
06[09:13] * magoo slaps dino around a bit with a large trout
06[09:14] * magoo slaps dino around a bit with a large trout
06[09:14] * magoo slaps dino around a bit with a large trout
[09:14] {dino} fri close gap around 41.60 magoo fwiw
[09:14] {Threei} 06:02am [RIMM] Shares assumed underweight at JP Morgan, price target $40
[09:14] {Threei} 03/24/09 05:30pm [RIMM] Kaufman Initiates RIMM with Hold, price target: $50.00
[09:16] {Threei} 03/25/09 03:06am
[09:16] {Threei} [BAC] Bank of America Corp CEO Lewis: Intend to begin repaying bailout funds in April - LA Times
[09:16] {Threei} - Lewis told the LA Times the bank would seek to payback th ebulk of its goverment funds once the financial system becomes more sound.
[09:16] {Threei} - He defended purchases of Countrywide Financial and Merrill Lynch as strategically sound, long-run plays.
[09:16] {Threei} - Lewis stated that he has seen no indicators from US gov that BAC will fail gov stress tests.
[09:16] {Threei} - Note that BAC is tje 3rd largest benefactor of US aide behind AIG and C. BAC is currently paying the US gov $2.85B in dividends per year.
[09:16] {Threei} - Reminder: On March 18, CEO Lewis said BAC could pay back $45B in TARP funds in 2009 or at the start of 2010. Earlier, on March 2, he called BAC's second request for $20B of govt aid for Merrill transaction a'tactical error and said it was possible BAC could pay back TARP funds in two or three years.
[09:18] {dptl} good morning
[09:18] {magoo} oph oh..vad..i did new download and now i do not see isld or inet in route slection
[09:19] {Threei} dp :)
[09:19] {magoo} thers a naz route??
[09:21] {Threei} Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.
[09:21] {magoo} HOW?
[09:21] {magoo} sorry, u know me
[09:21] {vint} good morning all
[09:21] {Threei} I've no idea
[09:21] {Threei} ask dave
[09:22] {Threei} I haven't updated yet
[09:22] {Threei} vint :)
[09:23] {pita} what's with DRYS?
[09:24] {Threei} bad earnings
[09:28] {ese} makke sure you don't like it too much down there in the Bahama's Vad.......we like you just fine up here on the island???
[09:28] {Threei} for our friend from Poland:
[09:28] {Threei} Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.
[09:28] {Threei} oops, wrong post
[09:28] {magoo} im scared
[09:28] {Threei} *(PD) POLAND CENTRAL BANK CUTS INTEREST RATES BY 25 BPS TO 3.75%, AS EXPECTED
[09:29] {Threei} lol ese
[09:29] {nemo} RIMM
[09:30] {cosmo} DRYS pre mkt high = 4.89
[09:30] {Threei} watch WFC for bounce
[09:30] {cosmo} gonna test
[09:31] {Threei} would like to see a quick dive under 16
[09:32] {Threei} oh well
[09:32] {ese} L HIG .50
[09:33] {ese} ouuuuuuuuu was thinking FAS.........
[09:33] {Threei} looks like entry on pullbacks is a theme
[09:34] {Threei} FAS
[09:34] {Threei} around .50
[09:34] {Threei} wtih stop under .40
[09:34] {Threei} BAC
[09:34] {Threei} .70 break
[09:35] {Threei} stop under .60
[09:35] {nemo} in bac
[09:36] {dino} v hurt
[09:36] {Threei} FAS first strength from here
[09:36] {magoo} in .43
[09:36] {Threei} yup
[09:36] {Threei} quite hectic action
[09:37] {Threei} but should become more streamlined
[09:39] {Threei} WFC .11 long if holding above 16
[09:40] {Threei} US TREASURY SEC GEITHNER: RESOURCES STILL REMAIN IN TARP, WILL BE DIFFICULT TO REPLENISH FUNDS ONCE USED
[09:40] {Threei} sheesh
[09:40] {Threei} can they all just shut up?
[09:41] {Threei} half out FAS
[09:41] {Threei} scalpers know, right?
[09:41] {magoo} out .56 TY
[09:41] {Threei} half out WFC
[09:42] {wulff} got WFC ty
[09:43] {Threei} WFC stop to .08 for the balance
[09:43] {magoo} out wfc TY
[09:43] {Threei} FAS stop to .45 for the balance
[09:43] {Threei} BAC is laggard
[09:44] {Threei} not sure if it's just biding its time or has no gas
[09:44] {Threei} if uncomfortable, trail stop to .64
[09:45] {Threei} WFC baby
[09:45] {Threei} 1/4 more out .40
[09:45] {Threei} stop to .19
[09:46] {Threei} BAC, you are becoming irritating
[09:46] {magoo} yea
06[09:46] * Threei kicks BAC in the rear
[09:47] {Threei} WFC, my little beauty
[09:47] {Threei} out .47
[09:47] {Threei} +.35
[09:47] {Threei} did I kick wrong side BAC?
[09:48] {Threei} out
[09:48] {Threei} it annoyed me
[09:48] {nemo} yeah and then it ran into fas
[09:49] {ese} out HIG ..50 even ...no clear direction
[09:49] {ese} dn now
[09:50] {Threei} GE
[09:50] {Threei} yesterday's high .91
[09:50] {Threei} looks like the thing decided to move for real
[09:51] {Threei} let's see if we get pullback
[09:51] {Threei} .80 - .85 zone
[09:51] {Threei} FAS, 1/4 more out
[09:51] {Threei} .65, +.22
[09:53] {pita} leaving early today - gl everyone
[09:53] {Threei} take care pita... not bad for 20 minutes of work, lol
[09:54] {dino} \gmcr sm l .40
[09:54] {fernp} closed BAC +.05 ty. Was uncomfortable w/it
[09:55] {Threei} can't blame you really
[09:55] {Threei} thing seriously lags the rest
[09:56] {Threei} US TREASURY GEITHNER: OPEN TO IDEA OF SDR LINKED CURRENCY SYSTEM
[09:56] {nemo} Case of Kettle 1 please
[09:57] {Threei} give me some cave to crawl in and never hear from these guys again
[09:57] {Threei} until they have something to say asbout real issues
[09:57] {nemo} cement up the entrance
[09:57] {Threei} US TREASURY GEITHNER: "OPEN" TO IDEA OF SDR LINKED CURRENCY SYSTEM SUGGESTED BY CHINA; USD WILL BE LINKED TO GOOD US POLICY
[09:57] {Threei} and install couple machine-guns on entrance
[09:57] {Threei} with motion sensors
[09:59] {Threei} GE won't pull back
[09:59] {Threei} 11 break is obvious trigger
[09:59] {Threei} hate breaks on these stocks
[09:59] {Threei} discretionary trade guys
[09:59] {Threei} decide for yourself whether you like it or not
[09:59] {wulff} breakouts fail more?
[10:00] {Threei} FEB NEW HOME SALES: 337K V 300KE (% M/M)
[10:00] {Threei} on these financial thick stocks, yes
[10:00] {Threei} breaks fail more often than work
[10:00] {Threei} but we got news right at this point
[10:00] {Threei} out FAS in full
[10:01] {Threei} .86
[10:01] {magoo} nice boss
[10:01] {Threei} +.43
[10:01] {i2romantis} nice
[10:01] {magoo} B..gave your phone numberAC
[10:02] {Threei} - New Home months of supply: 12.2 v 12.9 months m/m
[10:02] {Threei} - Prior New Home Sales revised from 322K to 309K{XHB}
[10:02] {Threei} - Median sales price: $200,900 v $206,800 m/m (%); $245,300 y/y (-18% y/y)
[10:03] {Threei} yeah, BAC fooled me big time
[10:03] {Threei} but heck
[10:03] {Threei} am I unhappy with this opening?
[10:04] {vint} good beginning, vad, thanks
[10:05] {Threei} GRMN
[10:05] {Threei} HEARING RENEWED TAKEOVER CHATTER CIRCULATING
[10:05] {Threei} :)
[10:05] {dino} gmcr stopped -.43
[10:05] {dino} lphi l .06
[10:07] {dino} new march highs
[10:08] {dino} push for 8k end of quarter?
[10:08] {cosmo} the highs of march
[10:08] {Threei} certainly feels this way dino
[10:09] {dino} mark-ups on force, they don't want to underperform
[10:11] {dino} lphi stop to .31
[10:12] {Threei} see how breakouts are struggle on these stocks?
[10:12] {Threei} if you tried FAS at 7, torture
[10:12] {i2romantis} lows are coming in 20 mins?
[10:12] {Threei} GE at 11, even news at that very moment moved it 10 cents only
[10:12] {nemo} I'm having deja vu
[10:13] {dino} out lphi .32, +.26
[10:13] {dino} been there done that nemo
[10:14] {dino} f#ck, where's my 8k hat?
[10:14] {Threei} Chaeron stole it
[10:14] {Threei} he collects those
[10:15] {dino} :)
[10:16] {magoo} i have it dino
[10:16] {dino} oh mannnnnnnnnn, swiper
[10:17] {magoo} jesus..dino threw a bag of jelly beans at me and it exploded NO SHIT
[10:17] {dino} he's whining
[10:17] {Threei} lol
[10:18] {Threei} you guys crack me up
[10:18] {dino} vad, look at tlt/tbt today
[10:18] {Threei} that's very counter-intuitive
[10:18] {Threei} let's buy TBT .80 break?
[10:18] {i2romantis} i'm just curious, how come i don't see you guys shorting much?
[10:18] {nemo} well tbt tanked big time yesteray afternoon
[10:19] {i2romantis} i must be missing something
[10:19] {Threei} market is uotrending i2r... why would we?
[10:19] {Threei} we shorted a lot during downtrend
[10:19] {i2romantis} got ya
[10:19] {dino} 12r, shorted the 20 year yesterday
[10:20] {i2romantis} i must have missed that before, i only noticed you guys going long
[10:20] {dino} and had the qid at open
[10:20] {dino} yesterday
[10:20] {Threei} you haven't seen this alert:
[10:20] {Threei} Short Setup: SOMETHING at some price
[10:20] {Threei} ?
[10:20] {dino} you had me on ignore roman
[10:20] {i2romantis} will pay attention :)
[10:20] {i2romantis} thx
[10:21] {nemo} I thought it was "anything
[10:21] {nemo} "anything"
[10:21] {Threei} I rememmebr couple weeks when we were shorting CAT every day
[10:22] {wulff} TBT
[10:22] {magoo} we were? cant remember..what CAT do? pet supplies?
[10:23] {Threei} yeah... kittens, toys, cat food
[10:23] {Threei} and broadcatsts cat fights
[10:26] {Threei} US HOUSE DEMOCRATS PROPOSE A $3.45T BUDGET FOR 2010
[10:28] {ese} missed that nice run up in HIG....some days you are the bug ...somedays you are the windshield
[10:29] {nemo} Reminds me of a joke...what's the last thing to go through a bugs mind when it hits the windshield?
[10:30] {nemo} tough crowd
[10:30] {ese} his a Hole
[10:30] {Threei} DOE CRUDE: +3.3M V +1.1ME
[10:30] {nemo} nice ese
[10:31] {nemo} Who was it that was talking about having an 11 year old's sense of humor?
[10:31] {nemo} CAT kissing the highs
[10:33] {dino} sidetracked
[10:33] {nemo} who cat? no, up .08 last minute
[10:33] {nemo} .13
[10:34] {ese} L NUAN .64
[10:34] {ese} dino did you find any big down gappers
[10:35] {dino} sorry es, just got bid accepted on myrtle beach condo, sidetracked for an hour
[10:36] {ese} right on........I'm I comin to golf
[10:36] {dino} next wek
[10:37] {Threei} if I don't play golf, can I just drop by with beer?
[10:37] {ese} this pattern in NUAN is guranteed to work from Vads book
[10:38] {ese} lol
[10:38] {dino} foreclosurer
[10:38] {ese} nice
[10:39] {ese} have you seen it dino
[10:40] {magoo} vad..i miss anything u in?
[10:40] {magoo} picking up jelly beans
[10:40] {Threei} no
[10:40] {Threei} was looking at FAS on pullback to .70, and in rertospect it was right spot
[10:40] {magoo} ok..ill keep pickin up then..appx 200 to go
[10:41] {Threei} but at the moment pace was so flat,
[10:41] {Threei} could easily go either way
[10:41] {Threei} lol
[10:42] {dino} internet pictures, but I have stayed in similar units, barefoot resort (dye courses)\
[10:44] {nemo} BAC forming ascending triangle
[10:46] {ese} deon't know what i was thinkin vad....you said pullbacks are the order of the day....and what do I do....try a breakout......."the gates are down ..the lights are flashing, but that train just ain't a comin!!" sheesh
[10:47] {Threei} yeah, we are not in a happy-bubbly-giddy stage of the bull yet, when any entry works
[10:48] {nemo} Train kept a rollin' all night long...
[10:48] {vinod} fas 070 still good
[10:49] {vinod} ?
[10:49] {ese} not in my case today nemo
[10:50] {ese} I'm sure that I could demonstrate the inate ability to drown in a parking lot puddle today.....
[10:50] {nemo} Oh it kept a rollin...right over you
[10:50] {Threei} not sure vinod
[10:50] {Threei} kind of 50/50 here
[10:50] {Threei} easy money has been made for the morning
[10:50] {ese} ha ha yuk yuk
[10:52] {Threei} in fact...
[10:52] {Threei} GE starts looking like short on .90 breakdown
[10:52] {Threei} if sdtays under 11
[10:52] {nemo} Better than Nancy Sinatra and her boots
[10:52] {Threei} and FAS on .70 breakdown
[10:52] {ese} indeed
[10:52] {Threei} that was for i2r :)
[11:02] {Threei} everything's struggle
[11:02] {i2romantis} yes
[11:03] {Threei} same pattern as yesterday so far:
[11:03] {Threei} easy money is made quickly after the open,
[11:03] {Threei} then long period of boredom
[11:06] {Threei} NY FED: PURCHASED $7.5B IN TREASURIES IN FIRST ROUND OF $300B PURCHASE PROGRAM
[11:08] {Threei} NORTH KOREA REPORTEDLY HAS MOVED MISSILE TO LAUNCH PAD - JAPANESE PRESS
[11:10] {cosmo} they need to talk
[11:14] {Threei} FAS 1:1
[11:15] {Threei} can't believe I subjected myself to this water torture for this gain
[11:15] {nemo} I got stopped out @ .76
[11:15] {Threei} that was very stingy stop
[11:16] {Threei} real resistance was .80
[11:17] {dino} ok, back to work
[11:17] {Threei} just as with pullbacks on a long side.. on both FAS and GE short entry on bounce near the resistance would be much better idea
[11:17] {dino} ese what are you looking at?
[11:19] {i2romantis} getting frustrated with TD's slow fills...
[11:19] {Threei} oh come on...
[11:19] {Threei} we talked like 3 months ago about it being not suitable for day trading
[11:19] {Threei} you like torturing yourself? :)
[11:20] {i2romantis} seems that way
[11:20] {i2romantis} contacted dave, switching soon
[11:20] {Threei} GE's turn finally it seems
[11:21] {Threei} moving my stop to .95
[11:21] {Threei} FAS 1:2
[11:22] {Threei} I'll be a tightwad and move GE's stop to .91
[11:24] {Threei} whatever
[11:24] {Threei} covered GE .82
[11:24] {Threei} plus whooping 8 cents
[11:24] {vint} out GE +.07
[11:25] {Threei} it's just too slow to get a firm read
[11:25] {Threei} and having almost perfect day, with little BAC shakeout the only exception, don't want to jeopardise it
[11:25] {dino} sm l apol .00
[11:26] {magoo} just covered GE short dime..ty vad
[11:26] {Threei} no FAS?
[11:26] {magoo} took bac with it
[11:26] {magoo} no fas
[11:26] {Threei} okay... whatever works
[11:27] {Threei} FAS worked the best of them all
[11:28] {dino} apol stop is .85\
[11:30] {dino} stopped apol -.15
[11:30] {magoo} thats cause i didnt take it
[11:36] {Threei} BAC works nicely now
[11:37] {vinod} at 0.70?
[11:38] {Threei} ?
[11:43] {dino} hl s nue .10
[11:44] {dino} stop is .38
[11:45] {KSystems} I'm buying the OIH here...83.10
[11:45] {KSystems} lets see
[11:47] {Threei} what to see... nice scalp :)
[11:48] {Threei} IBM
[11:48] {Threei} PREPARING FOR LAYOFFS IN US SERVICES UNIT; WILL SHIFT MORE WORK TO INDIA - WSJ CITIES SOURCES
[11:48] {Threei} I see stimulus works well
[11:49] {dino} stopped nue .05 +.05 markety strength
[11:49] {dino} nite l .66
[11:59] {dino} mygn
[12:00] {dino} 7 bucks
[12:00] {i2romantis} sure hope that laser software does better job at updating buying power, cause TD's sucks
[12:00] {Threei} it's real time...
[12:01] {Threei} you bought something, your BP went down... you sold, it went back up
[12:04] {i2romantis} i know, just doesn't do it cleanly with TD's ATP
[12:04] {Threei} hehe... last time I traded with broker with that kind of interface was 1997... :)
[12:05] {i2romantis} with every tran bp is lower by 200-300, not sure if related to us/cdn exchange issue, as I still use some cdn funds when usd are all used up
[12:05] {i2romantis} I think i'll be switching in April
[12:05] {Threei} anyone remember Datek?
[12:05] {magoo} we used it
[12:05] {magoo} datek
[12:05] {Threei} :)
[12:06] {dino} nite stop to .78
[12:06] {dino} out .80, +.14
[12:10] {Threei} starting tomorrow morning, Prez is holding online townhall meeting, answering sumbitted questions
[12:10] {Threei} I have just one question... when does this guy work?
[12:11] {magoo} no kidding
[12:12] {Threei} REMINDER: THE FED'S PIANALTO IS SCHEDULED TO SPEAK AT 12:20PMET AND FED'S YELLEN TO SPEAK AT 1PMET
[12:12] {Threei} - both are speaking on the US economic outlook.
[12:12] {Threei} - Pianalto will not release an advanced text, will take audience Q&A.
[12:12] {Threei} - Yellen will have an advanced text and take questions afterward from reporters.
[12:15] {Threei} TREASURY SEC GEITHNER: ECONOMIC DETERIORATION PACE HAS SLOWED
[12:22] {Threei} FED'S PIANALTO: DATA CONFIRMS SEVERE RECESSION; CREDIT CONSTRAINTS ARE MAIN PROBLEM, GDP SHOULD STABILIZE BY YEAR END
[12:22] {Threei} - Notes that the TALF program is critical to getting credit flowing once more
[12:22] {Threei} - Remarks that the Fed is prepared to further expand Fed balance sheet
[12:24] {Threei} and market drops why?
[12:27] {Threei} US) TREASURY SEC GEITHNER: STRONG USD IN AMERICA'S BEST INTEREST; NO INDICATION FOREIGN BUYERS ARE LOSING INTEREST IN PURCHASES OF TREASURIES - CNBC INTERVIEW
[12:27] {Threei} - financial institutions must have stronger quality of disclosure than we have now.
[12:28] {nemo} goin' for the title
[12:28] {Threei} is it a requirement for all treasury seceretaries to say 'atrong dollar is in US interests"?
[12:28] {nemo} talking points
[12:28] {Threei} I don't remember any one them not saying this,
[12:29] {Threei} even when USD was in the crapper
[12:29] {dino} realistically it is in bond buyers interest, not us
[12:31] {dino} qld l .57
[12:36] {Threei} http://finance.yahoo.com/tech-ticker/article/218286/One-Small-Problem-with-Geithner's-Plan-It-Will-Bankrupt-the-Banks?tickers=aig,c,bac,wfc,xlf,^gspc,^dji
[12:38] {nemo} what's your stop Dino?
[12:39] {dino} .34
[12:39] {dino} poor entry
[12:49] {Threei} I am at serious risk to break my chin off my desk
[12:50] {dino} stopped, sorry nemo
[12:50] {Threei} and break the desk and keyboard in a process
[12:50] {larisa} Blodget is the one who barred from markets for life right ? I think his judgement is clouded a bit :)
[12:50] {dino} nue s .19
[12:50] {Threei} UN URGES THE G20 TO SUPPORT A $1T PLAN TO HELP DEVELOPING COUNTRIES
[12:51] {dino} milken
[12:51] {Threei} well, there are arguments in the article
[12:51] {Threei} either they are valid or not
[12:52] {dino} ndx wants to fill open gap
[12:55] {larisa} when anybody says something, to me it always agenda behind the words. Quid pro quo.
[12:55] {Threei} that's why I dismiss the whole 'consider the source" - everyone has an agenda
[12:55] {larisa} I believe Tim's plan will work1 :)
[12:55] {Threei} so why not look at the message itslef and evaluate its merits
[12:56] {Threei} don't tel me Tim has no agenda {G}
[12:56] {larisa} lol
[12:56] {Threei} he is too terrific for that
[12:56] {magoo} first on agenda is to hire secretary
[12:57] {Threei} I think it's done already
[12:57] {Threei} ghone are sad times when tim was home alone
[12:57] {dino} larisa for tim's sec
[12:58] {larisa} no thanks :) He is not my type
[12:58] {larisa} of boss
[12:58] {dino} :)
[12:58] {Threei} and we don't want Larisa in harms way when Tim is getting ostracized and tar and feathers become the main furniture in his office
[12:59] {nemo} you mean his wardrobe
[13:00] {Threei} depends on where angry mob catches up with him
[13:00] {Threei} FED'S YELLEN: US MUST USE ALL TOOLS IN CRISIS, STIMULUS MAY ASSIST ECONOMY NEXT QUARETER
[13:00] {larisa} I doubt I can be anybody's secretary, he yells at me once and poison in his coffee will make me unemployed.
[13:01] {Threei} lol
[13:02] {Threei} I never yelled at secretaries but being focused on something completely I used one gal's cup of coffee as an ashtray...
[13:03] {Threei} poor girl looked at it, sighed and took about 10 minutes before finally saying
[13:03] {Threei} umm... that was my coffee...
[13:04] {Threei} FED'S YELLEN:
[13:04] {Threei} UNEMPLOYMENT TO PEAK NEXT YEAR
[13:04] {Threei} - Deflation larger risk than inflation at the moment
[13:04] {Threei} - Remarks that housing may have reached a bottom yet uncertainty remains in economic outlook
[13:04] {Threei} - Core inflation to be below 1% for next couple years
[13:04] {Threei} - TALF may be extended to CMBS and RMBS
[13:05] {Threei} by the way... whether accusations against Blodget were true or not, his competence was never really in question
[13:05] {larisa} yeah, his AMZN call to $400. i remember that one :)
[13:06] {larisa} wild guy
[13:06] {Threei} that was actually the one that started his star reputation
[13:06] {larisa} right
[13:06] {dino} cov nue .00, +.20
[13:06] {dino} .19
[13:07] {dino} l nue .05
[13:11] {dino} out nuec .90 -.15
[13:13] {dino} whippy
[13:14] {vint} CAT sinking down
[13:14] {Threei} yeah, will be a bounce scalp canadidate very soon
[13:18] {magoo} mkts rotting here
[13:19] {Threei} one more quick leg down CAT
[13:19] {Threei} FAS nears bounce zone as well
[13:19] {Threei} CAT, between 29 ans 29.10, on pause and strength
[13:20] {Threei} if never loses 29.10 and market spikes, .20 break
[13:20] {Threei} IMF'S STRAUSS KAHN: DISCUSSION OF RESERVE CURRENCY SITUATION IS A LEGITIMATE ONE
[13:20] {nemo} can hear the clinking bottles now
[13:22] {magoo} in .18
[13:23] {Threei} I am still in the trenches
[13:23] {ese} I'm outta here...still hangin on to my 1/2 lot of nuan......we'll se what happens at the end of the day
[13:23] {Threei} take care ese
[13:23] {nemo} what's that mean Vad?
[13:24] {ese} see ya vad.......remember no house shopping in the bahamas
[13:24] {Threei} lol
[13:24] {Threei} waiting for CAT entry to come to me nemo
[13:25] {dino} ndx gap filled
[13:27] {larisa} did CAT have news ?
[13:27] {Threei} no
[13:27] {Threei} in
[13:27] {Threei} .75 stop
[13:28] {Threei} stopped
[13:28] {Threei} hmm... feels bottomed
[13:29] {Threei} nope... market is still sliding
[13:29] {Threei} .70 break in
[13:29] {Threei} stop under .65
[13:30] {Threei} come on, it's time
[13:32] {dino} nue l .45
[13:33] {Threei} sheesh... is this all??
[13:33] {Threei} half out CAT .81
[13:34] {larisa} selling pressure is amazing
[13:34] {nemo} might need a double bottom after that fall
[13:34] {Threei} that's your Tim's plan in work :)
[13:34] {larisa} lol
[13:34] {Threei} out second half
[13:34] {Threei} whatever
[13:34] {Threei} too much struggle
[13:35] {dino} stopped -.15 done w/it
[13:36] {Threei} WFC
[13:36] {Threei} MOODY'S LOWERS RATINGS TO A1 FROM AA3
[13:36] {Threei} market sells down like end of the world is here again
[13:40] {dptl} have a good evening all...finishing early today....
[13:40] {Threei} take care dp
[13:41] {i2romantis} me too, done for today until I see some recovery
[13:41] {Threei} i2r :)
[13:41] {Threei} clever people quit while they are ahead
[13:41] {i2romantis} :)
[13:42] {dino} skf v sm l .40
[13:47] {dino} stopped
[13:47] {dino} taking a break
[13:48] {Threei} FED'S YELLEN: DISINFLATION CANNOT BE UNDERESTIMATED - Q&A
[13:59] {Threei} FAS, should be putting bottom in around here
[14:02] {Threei} panic
[14:02] {magoo} rotting
[14:03] {magoo} red
[14:03] {Threei} don't jump in, let it calm down
[14:04] {Threei} now .96 break becomes long trigger if holding .90
[14:04] {Threei} and don't touch it if not ready for a few tries
[14:08] {Threei} something is seriously bothering the market
[14:09] {Threei} (whispering) maybe Tim's plan
[14:09] {larisa} no, something else
[14:09] {Threei} well... suggest your version :)
[14:10] {larisa} can not come up with anything (Tim, Tim, Tim in my head). You still think this market needs a reason ?
[14:11] {dino} sm l nite .30
[14:11] {Threei} well... to turn around like this, yes
[14:12] {nemo} call on FAS vad?
[14:13] {Threei} none
[14:13] {Threei} it doesn't form clean setup
[14:13] {Threei} just moves up and down
[14:13] {Threei} I mean down and up
[14:16] {Threei} 6.05 if holding above 5.95
06[14:17] * magoo slaps Threei around a bit with a large trout
[14:17] {Threei} 6 break as aggressive entry if you prefer this kind
06[14:17] * magoo slaps Threei around a bit with a large trout
[14:17] {Threei} wtf?
[14:17] {magoo} practicing for when it fails to work
[14:17] {Threei} invalidated
[14:18] {Threei} or to put it more precisely, modified
[14:18] {Threei} .96 if hholdiong above .90
[14:18] {Threei} etc
[14:18] {magoo} we need futes to turn up
[14:18] {Threei} you don't sday
[14:19] {magoo} sarcasm??
06[14:19] * magoo slaps Threei around a bit with a large trout
[14:19] {Threei} .90 break if holding above .85
[14:19] {Threei} you got the idea
[14:19] {larisa} lets put in double bottom and bounce from here, please ? :)
[14:19] {magoo} .80 break if holds .75?
[14:19] {Threei} this pattern of trigger/stop changes only if we make new low
[14:19] {nemo} I'll just put in an order @ 5.00 even
[14:19] {i2romantis} lol
[14:23] {Threei} if you pay attention instead of joking, you are in at .91 and by now looking to partial out after 6 break
[14:23] {Threei} half out .03
[14:23] {Threei} scalpers are scalpers
[14:23] {dawg} scalped it thanks Vad
[14:24] {Threei} :)
[14:24] {Threei} to answer this:
[14:24] {Threei} 14:19] {magoo} .80 break if holds .75?
[14:24] {Threei} no
[14:24] {magoo} i was joking and missed
[14:24] {Threei} that patter was based on double bottom hunting
[14:25] {Threei} if we lost .80, that would no longer be a double bottom,
[14:25] {Threei} thus we would need to wait for new chart formation to appear
[14:26] {i2romantis} how do you come up with .91?
[14:27] {Threei} were you watching it real time at the moment?
[14:27] {i2romantis} if the lows were in the 80s
[14:27] {i2romantis} yes
[14:27] {Threei} then notice this pattern:
[14:27] {Threei} it loses 6,
[14:27] {Threei} holds 5.95,
[14:27] {Threei} makes a few moves between them
[14:27] {Threei} establishing mini-range
[14:28] {Threei} if breaks 6 while holding 5.95, it becomes a trigger
[14:28] {Threei} loses .95, makes the same kind of moves between .90 and .95
[14:28] {Threei} making .96 triggger if holding .90
[14:28] {Threei} etc
[14:28] {i2romantis} got ya
[14:28] {i2romantis} thx
[14:29] {i2romantis} i presume we are to see if it establishes 3rd bottom or if goes lower
[14:29] {Threei} yep
[14:31] {Threei} PALM
[14:31] {Threei} HEARING SHARES ADDED TO DEUTSCHE BANK SOLAR LIST AS A BUY
[14:31] {Threei} DRYS
[14:31] {Threei} HEARING LAZARD MAKING CAUTIOUS COMMENTS; LOWERING ESTIMATES
[14:31] {Threei} - Firm is lowering their FY EPS estimate to $1.05 from $1.35 despite their revenue estimate increases to $861M from $841M.
[14:32] {nemo} If fas holds, need break of 6.06?
[14:33] {Threei} as a new trigger?
[14:33] {nemo} yes
[14:33] {Threei} ummm... a bit too high
[14:33] {Threei} where do you place a stop if buy up there
[14:34] {Threei} see if it forms new setup here
[14:34] {Threei} .85 - .90
[14:34] {Threei} it still held the low
[14:34] {Threei} so this kind of setups is still valid
[14:35] {Threei} US MICHIGAN SENATOR LEVIN (D): AUTOMAKERS SHOULD EXPECT MORE AID, HOWEVER WITH CONDITIONS
[14:35] {Threei} - Expects Obama auto task force to announce support for additional aid{GM F}
[14:35] {Threei} retest of the low again
[14:35] {Threei} not good
[14:35] {nemo} fingernails
[14:36] {Threei} doesn't look like going to holsd
[14:37] {dino} rimm filling that gap from fri close
[14:44] {Threei} isn't it something?
[14:44] {Threei} Larisa, agree with me now that market does have a reason for such stubborn selling?
[14:44] {Threei} this is not your garden variety pullback
[14:45] {nemo} 200 point range on the DOW?
[14:45] {vint} by this rate, easily it could hit -200
[14:45] {nemo} lied 260
[14:47] {dino} gaps from friday., 7273, 1187, 768
[14:47] {Threei} NY FED: DEALERS SUBMIT $23B IN 28 DAY, $37.5B TSLF AUCTION; BID TO COVER RATIO 0.61
[14:50] {Threei} oullback under .70 is for the next try now
[14:50] {Threei} same pattern
[14:50] {Threei} BAC
[14:50] {Threei} MOODY'S LOWERS SENIOR DEBT RATING TO A2 FROM A1
[14:52] {Threei} stop under .60 if you got entry
[14:53] {Threei} if it works, make your choice bwteen scalp and partial
[14:53] {Threei} my personal is partial as I am trying to secure half and get a bigger move on trend reversal
[14:54] {Threei} basis is, morning profits are quite enough for me,
[14:54] {Threei} what I am trying to do here is not to lose and not to just add little scalps
[14:54] {Threei} but to increase profit significantly or stay basically at the same level
[14:56] {Threei} half out .76
[14:56] {nemo} what were you in at vad?
[14:56] {Threei} .66
[14:57] {Threei} want something closer to 6 for the next part
[14:57] {Threei} between 5.90 and 6, let's say
[14:57] {Threei} if trend changed, should be easy
[14:57] {Threei} if not, what's my risk
[14:57] {Threei} +.10 on first half, - .07 on second... shrug
[15:00] {Threei} no go for second part
[15:01] {Threei} FDIC'S BAIR: TRESURY DEPT'S NON BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'
[15:01] {Threei} I think markey hates this idea
[15:02] {Threei} yesterday selling started hitting as they started talking about it
[15:03] {Threei} GEROGE SOROS: G20 NEEDS TO FIND A SYSTEMIC SOLUTION FOR DEVELOPING ECONOMIES
[15:04] {Threei} - Calls the April G20 meeting a "make or break" event.{EEM}
[15:04] {Threei} FDIC'S BAIR: TRESURY DEPT'S NON-BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'
[15:04] {Threei} - Would make sense on "many levels" if the FDIC were given resolution powers for large non-banks, in close cooperation with Treasury and Fed.
[15:05] {Threei} is there any area this administration doesn't want to have total authority over?
[15:06] {dino} nope
[15:07] {Threei} GEORGE SOROS: OBAMA SHOULD PROPOSE USE OF SDR
[15:07] {Threei} why would USA need that?
[15:08] {nemo} Kettle 1...it would force fiscal discipline
[15:08] {Threei} whose?
[15:08] {nemo} on the US
[15:08] {Threei} so, USA wants to install the external enforcements on itself?
[15:09] {Threei} REPORTEDLY 6,000 UAW WORKERS HAVE AGREEDED TO A BUYOUT, PLANS TO ANNOUNCE DETAILS OF UAW DEAL TOMORROW
[15:09] {Threei} {F}
[15:09] {nemo} no...I'm sure the US would rather stay the reserve currency
[15:09] {Threei} that's my point
[15:09] {Threei} why Geithner says horray to the idea then, and why Soros thinks Obama should propose it?
[15:11] {Threei} feels to me like trend is about to reverse
[15:13] {nemo} part of the Bildergerg plot, remember...Obama is the Manchurian Candidate
[15:13] {dino} lol
[15:20] {dino} qld l .25
[15:22] {Threei} [15:11] {Threei} feels to me like trend is about to reverse
[15:24] {dino} out qld .37 +.12
[15:27] {dino} out nite .36, +.06
[15:29] {Threei} WHITE HOUSE PRESS SEC: USD WILL BE GLOBAL RESERVE CURRENCY FOR LONG PERIOD OF TIME
[15:29] {Threei} finally!
[15:30] {nemo} Hey, know how you can tell when a politician is lying?
[15:30] {Threei} ok, if you want my take on what happened today:
[15:30] {dino} nite l .40
[15:30] {Threei} idiot geithner mused about USA liking this idea,
[15:30] {Threei} market reacted,
[15:30] {Threei} now Prez spokesman says nah,
[15:30] {Threei} market reacts.
[15:30] {Threei} Geithner has to go, IMO
[15:31] {Threei} damage this guy causes is beyond imagination
[15:31] {cosmo} yeah....put in cramer
[15:31] {dino} cedc l .37
[15:31] {Threei} of course I am so brave only while larisa isn't here
[15:32] {Threei} cosmo.. at least that would be funny
[15:33] {patience} geithner is the straw man imo
[15:33] {Threei} seriously, can you envision all the implications of worlds reserve currency change for US economy?
[15:33] {Threei} and whole financial system
[15:34] {nemo} austerity doesn't begin to describe it
[15:34] {Threei} not what I mean
[15:34] {cosmo} hmmm... maybe try Chauncy Gardiner
[15:35] {nemo} I'm sure it woul be phased in over time
[15:35] {Threei} I mean complexity, depth and breadth of all the issues influenced by this
[15:35] {nemo} How did they introduce that mutt the euro
[15:35] {Threei} I am pretty sure no one in the whole world comes even close to undderstaning of all the changes involved
[15:35] {nemo} No doubt...things have become so complex
[15:36] {Threei} and intervened
[15:36] {nemo} Doesn't mean they won't try
[15:36] {Threei} could be
[15:36] {Threei} my point is,
[15:36] {Threei} market reacts on this as a huge unceratinty
[15:36] {Threei} and we now how markets like uncertainty
[15:42] {Threei} AIG MOODY'S CUTS RATING TO B2
[15:42] {Threei} Moody is angry today
[15:42] {magoo} why kick everyone while down
[15:43] {cosmo} to accumulate the stock
[15:44] {Threei} lol
[15:45] {Threei} BAC
[15:45] {Threei} FIVE PUBLIC PENSION FUNDS FILE SUIT AGAINST BOFA - WSJ
[15:45] {dino} nite stop to .48
[15:46] {vint} short squeeze?
[15:46] {i2romantis} moody is moody today
[15:46] {Threei} just some recovery vint
[15:46] {Threei} not much to it
[15:46] {vint} thanks
[15:46] {Threei} nervous day for both sides
[15:46] {dino} out nite +.08
[15:47] {Threei} tsk tsk tsk i2r... I restrained myself from that pun
[15:47] {Threei} but no, you had to do it :)
[15:48] {i2romantis} :)
[15:48] {i2romantis} and FAS was fussy today
[15:48] {dino} out cedc .42, +.05
[15:49] {Threei} and FAZ?
[15:49] {dino} ipsu bloody
[15:49] {Threei} {--- scared to ask about QID
[15:49] {i2romantis} works well, no? :)
[15:50] {Threei} lol
[15:50] {Threei} sure does
[15:50] {Threei} funny thing about today was,
[15:50] {Threei} we tried reluctantly two shorts
[15:50] {Threei} feeling that it was countertrend trade
[15:50] {Threei} so we took scalping profits on both
[15:51] {Threei} and those were actually very promising trades
[15:51] {Threei} lol
[15:51] {i2romantis} yes
[15:51] {Threei} oh well
[15:51] {Threei} I am a trend following trader mostly
[15:51] {Threei} reversals is not exactly my thing
[15:51] {Threei} I do nail many of them now and then
[15:52] {Threei} but I pick the safest ways to do it
[15:52] {Threei} and tend to take scalps
[15:52] {i2romantis} consistency is what you are good at and I'd love to get there soon :)
[15:52] {i2romantis} still making mistakes here and there
[15:53] {Threei} as Zvanetsky said...
[15:53] {Threei} Consistency of resuklts is a sign of professionalism
[15:53] {vint} very well said
[15:53] {i2romantis} lol, the context that he said it with is funny :)
[15:54] {vint} i wish i was anywhere close
[15:54] {Threei} 99% of his jokes are non-translatable
[15:54] {vint} oh that is a big joke
[15:54] {Threei} no
[15:54] {Threei} but mostly what he does is stdand-up
[15:55] {Threei} the simplest ones are possible to translate...
[15:55] {Threei} lie: He added some potatoe and salt, and put aquarium on the stove
[15:55] {Threei} lie= like
[15:56] {Threei} look at FAS
[15:56] {Threei} sheesh
[15:56] {vint} straight line
[15:56] {Threei} state of total confusion for both, bears and bulls
[15:56] {i2romantis} out fas at .45
[15:56] {i2romantis} should have waited :)
[15:57] {i2romantis} so, talk about inconsistency, got in at 5.57, left the screen, came back and it's here
[15:57] {Threei} practically full roundtrip
[15:57] {i2romantis} nice trade, but very inconsistent
[15:57] {i2romantis} that's my issue
[15:57] {i2romantis} gotta work on that
[15:57] {Threei} about a dollar - on a $6 stock!
[15:57] {i2romantis} yes
[15:58] {dino} crazy
[15:58] {i2romantis} but, i followed the down trend very painfully close, so it's nearly a recovery
[15:58] {dino} cedc in .50,
[15:58] {dino} out .62 +.12
[15:59] {Threei} STRASBOURG, France A top European Union politician on Wednesday slammed U.S. plans to spend its way out of recession as "a way to hell."
[15:59] {Threei} Czech Prime Minister Mirek Topolanek, whose country currently holds the EU presidency, told the European Parliament that President Barack Obama's massive stimulus package and banking bailout "will undermine the stability of the global financial market."
[15:59] {cosmo} marrket likes it
[15:59] {i2romantis} and I hold overnight too often, so I have to get rid of those habits before i switch to laser
[15:59] {vint} CAT + .4
[16:00] {magoo} unreal close imo
[16:00] {Threei} wtg vint
[16:00] {Threei} whole day is, mags
[16:00] {Threei} not overly wide but extermely werid
[16:00] {dino} wow am i beat
[16:00] {magoo} that close in financials was sick
[16:00] {Threei} thank you all
[16:00] {Threei} have a good evening, see you tomorrow
[16:01] {dino} bedlam, thats what it is, with the crazies running the facility
[16:01] {vint} good evening all, see you all tomorrow
[16:01] {i2romantis} cheers to all :)
[16:05] {dino} ctrn
