With market being in such misery, can't complain about 5 winning calls out of 7. CAT short becomes almost permanent fixture of each trading session; RIMM played nicely on both sides, long and short; AAPL long and even CAT long for a scalp polished things off. 

Session Time: Mon Mar 02 00:00:01 2009

[08:32] {dino} gm all

[08:32] {nemo} Happy Monday!

[08:32] {nemo} Yeah, right.

[08:33] {Threei}  Good morning

[08:33] {nemo} you too

[08:33] {Threei}  just youro normal garden variety end of the world

[08:33] {nemo} New world starts tomorrow...can't wait!

[08:34] {nemo} Actually, the futures look a lot better than they did last night

[08:46] {Threei}  US OFFICIAL: PURPOSE OF AID TO AIG IS TO STABILIZE AND REDUCE THE SIZE OF THE COMPANY; AIG STILL POSES A SYSTEMIC RISK

[08:46] {Threei}  - Notes that taxpayers' exposure to AIG is now $163B, will respond with new plans as the facts on the ground change.

[08:46] {Threei}  - There are "few strings" attached on how AIG should use the $30B in fresh funding

[08:47] {Threei}  now, this is real way out of the mess:

[08:47] {Threei}  US SAVINGS RATE JUMPED 5% TO ITS HIGHEST LEVEL SINCE 1995

[08:47] {Threei}  - Savings jumped to an annual rate of $545.5B, the highest level since monthly records began in 1959.

[08:47] {Threei}  - The savings rate surged 5% in January, the biggest advance since March 1995, as households uncertain about the economy prefer to conserve their cash.

[08:48] {cosmo} long live the consumer...

[08:49] {Threei}  *JAN PERSONAL INCOME: 0.4% V -0.2%E; PERSONAL SPENDING: 0.6% V 0.4%E

[08:49] {Threei}  **First rise in spending in seven months

[08:49] {Threei}  Jan personal saving rate rose by 5% largest increase since 1995

[08:50] {Threei}  (RU) REPORTEDLY RUSSIA HAS PROPOSED A JOINT IRANIAN-RUSSIAN OIL EXCHANGE

[08:50] {Threei}  - Iran may sell some oil on St. Peterburg exchange

[08:51] {Threei}  BALTIC DRY BULK INDEX +1.4%, A SECOND STRAIGHT ADVANCE

[08:56] {cosmo} ATPG:  ....# ATP Oil & Gas Earnings Call scheduled for 4:00 pm ET todayCCBN(Mon 7:35am)

[08:57] {cosmo} GE Energy Financial Services partners with ATPAP(Fri, Feb 27

[08:57] {dino} what is funny about the savings 3i, is that stocks are not counted. so realistically, as stocks dropped 50%, real estate down big (most americans biggest asset) these "savers" are worth much less (pensions, mutual funds, stocks, real estate). it is the same on the other side when savings go down, stocks and real estate are not counted. so, just careful for what you wish, as "net worth" is much lower

[08:58] {cosmo} yea.... 50% no big deal anymore...

[08:59] {dino} well, it's a gov't" statistic, they leave out real estate and stocks

[08:59] {Threei}  well, if they leave it out on both sides, it's still indicating something

[09:00] {cosmo} deile?

[09:00] {cosmo} denile

[09:00] {Threei}  third time should do it :)

[09:00] {dino} i think its a bogus indicator in either case. they want bank savings, not investment

[09:00] {cosmo} denial?

[09:00] {Threei}  there!

[09:00] {dino} oh, the river in egypt

[09:01] {cosmo} what river...

[09:01] {dino} turnaround tuesday coming again imo

[09:01] {dino} de nile

[09:02] {Threei}  we have Terrific Tim speaking this week, right?

[09:07] {Threei}  Tu 10 am, testifying before House Committee

[09:07] {Threei}  Thu

[09:09] {geo} gm all

[09:09] {Threei}  isn't it ironic that speaking of bounce or watever, many still use term "Obama rally"

[09:09] {Threei}  geo :)

[09:10] {buyemsellem} gm

[09:10] {Threei}  since he took office market did nothing but go down

[09:10] {Threei}  buyem :)

[09:10] {Threei}  so, eithere it is obama rally,

[09:10] {Threei}  or real rally will be more of "despite" rather than "thanks to"

[09:11] {cujo} morning. 

[09:12] {Threei}  cujo :)

[09:12] {nemo} Maybe it's the Obama anti-rally

[09:13] {nemo} mornin' mags, cujo

[09:14] {cosmo} or the obama QID 'ally

[09:14] {magoo} kjaslkiaskhcakusga

[09:14] {fernp} Hello everybody

[09:14] {Threei}  very eloquent

[09:14] {Threei}  magoo, fern :)

[09:14] {magoo} morning playbk vad?running late here

[09:14] {nemo} I sprained my tongue trying to say that

[09:15] {Threei}  nothing constructive mags

[09:15] {magoo} last mon went basically straight down allday..ended like 240 down

[09:16] {dptl} good morning all

[09:16] {Threei}  dp :)

[09:18] {Threei}  as tempting as it is to use last Monday as indicator for this one, it's not really valid one :)

[09:18] {magoo} i understand

[09:19] {Threei}  foreign market performed terribly

[09:19] {magoo} art on cnbc sad..worrying about trap door crash here

[09:20] {cosmo} hmmmm....could be turn around monday....

[09:20] {Threei}  trap door crash?

[09:20] {nemo} bottom falls out

[09:20] {cosmo} it did...

[09:20] {nemo} market dysentary

[09:20] {magoo} yeah...his words...lose last 1980 support level and trap door opens

[09:21] {magoo} crash

[09:21] {Threei}  GM CHAIRMAN LUTZ: THIS IS THE WORST DEMAND CYCLE SINCE WORLD WAR II, CALLS ON GOVERNMENTS WORLDWIDE TO ACT - INTERVIEW

[09:21] {cujo} -300

[09:21] {Threei}  act how? buy GM vehicles?

[09:22] {magoo} we should keep eye on qid vad

[09:22] {Threei}  market does look crashing today... the only concern is, this is what everyone and their grandmother think

[09:25] {cosmo} ICTG

[09:26] {cosmo} ICT Group: Aegis proposes cash acquisition of ICT Group at $8.00/shareBriefing.com(Mon 8:54am)

[09:26] {cosmo} ictg still needs 7 ....

[09:27] {Threei}  how about poor soul who bought 13.55?

[09:27] {Threei}  can't read?

[09:27] {Threei}  let's sit out the opening

[09:28] {Threei}  Mondays are often start out in hangover

[09:28] {Threei}  starting

[09:28] {nemo} mmmmhhh...that's the way most mornings start

[09:28] {geo} fred mac ceo resigns

[09:29] {Onix} gm all

[09:29] {Threei}  onix :)

[09:29] {vint} good morning all

[09:29] {Threei}  vint :)

[09:30] {geo} gow opens below 7k

[09:30] {geo} heh dow

[09:30] {Threei}  both

[09:30] {Threei}  watching CAT

[09:31] {Threei}  would like to see some consolidation, then break of 24 for short

[09:32] {Threei}  not bouncing much

[09:32] {Threei}  24.15 so far resistance to stay under

[09:32] {Threei} Short Setup: CAT  24 break if stays under 24.15

[09:33] {magoo} ion

[09:33] {nemo} in

[09:33] {cujo} in 

[09:33] {Threei}  under 1:1 cover half

[09:33] {magoo} that too

[09:33] {Threei}  .82 half out

[09:34] {cujo} 1/2 out .85

[09:34] {Threei}  stop to 24.05

[09:34] {Threei}  looking to cover 1/4 more closer to .50 - .60

[09:35] {Threei}  and see if we can get new 52 week lows on the last portion

[09:35] {magoo} out .73 NICE vad.

[09:35] {magoo} easy button

[09:35] {dino} gj

[09:35] {Threei}  welcome

[09:36] {Threei}  what's with jumoing

[09:36] {Threei}  jumping

[09:36] {cujo} good call

[09:36] {geo} out

[09:36] {Threei}  out 1/4 more .72

[09:37] {Threei}  missed that dive to .62

[09:37] {nemo} out .70

[09:38] {Threei}  okay... now we are talking

[09:38] {Threei}  new low

[09:38] {cujo} yeah i got stopped out on this one... 

[09:38] {cujo} but still made a little cash

[09:38] {ese} morning...gota stop sleeping in 

[09:38] {Threei}  ese :)

[09:39] {Threei}  do you use hard stops cujo?

[09:39] {cujo} yeah had a stop floating out there.

[09:39] {Threei}  grrr

[09:39] {Threei}  hate those

[09:39] {dptl} ty cat...+.24 +.41

[09:39] {Threei}  no way I'd exit into such sharp spike

[09:39] {Threei}  dp :)

[09:40] {magoo} cat might be good reload vad

[09:40] {Onix} ty Vad, got some in CAT

[09:40] {Threei}  :)

[09:41] {cosmo} STLD

[09:41] {Threei}  07:09am [STLD] Morgan Stanley Raised STLD to Overweight from Equal Weight, price target: $15

[09:42] {magoo} RIMM vad..bouncer?

[09:42] {Threei}  RIMM

[09:42] {Threei}  lol mags

[09:43] {magoo} in .86

[09:43] {Threei}  stop under .70

[09:44] {magoo} out here .23

[09:44] {magoo} TY 

[09:44] {cujo} nice trade mags

[09:44] {magoo} may have more but scalpin

[09:45] {dino} gj

[09:45] {magoo} gj=??

[09:46] {magoo} no prints on it

[09:47] {magoo} tough crowd..was a joke

[09:47] {cujo} in aapl .21 stop .91

[09:47] {dino} good job

[09:48] {cujo} out .52

[09:49] {Threei} Long Setup:  RIMM  .12 break half lot

[09:49] {Threei}  stop under .95

[09:49] {dino} pins and needles

[09:49] {nemo} too fast

[09:50] {geo} missed

[09:51] {Threei}  anyone got it, feel free to exit here

[09:51] {cujo} thanks

[09:51] {cujo} got a piece

[09:52] {Threei}  looking at CAT again, not much of a bounce

[09:52] {nemo} any dead cat jokes in there?

[09:52] {buyemsellem} or bouncing cat jokes

[09:52] {Threei}  don't see a clean setup yet, but keeping half eye on it

[09:53] {nemo} VW profit beats estimates

[09:53] {nemo} you've got three!

[09:53] {Threei}  it gave about 40 cents on a first setup, and looks very wek still

[09:54] {Threei}  weak too

[09:54] {nemo} If yo get a chance, Why does it look weak?

[09:54] {Threei}  ideall, for a second short on it we want to see it staying about here while market shows strength

[09:54] {Threei}  then breaking down with market reversal

[09:54] {nemo} ty

[09:55] {Threei}  because it stays close to low while market upticks

[09:55] {ese} who is VW vad

[09:55] {Threei}  DJI moved 50 points up

[09:55] {Threei}  Volkswagon?

[09:56] {nemo} yes

[09:56] {nemo} Net income rose 15 percent in 2008 to 4.75 billion euros ($6 billion), or 11.92 euros per basic ordinary share, from 4.12 billion euros, or 10.43 euros, the Wolfsburg, Germany-based carmaker said in a statement today. Revenue rose 4.5 percent to 113.8 billion euros. 

[09:57] {geo} in cat

[09:58] {cujo} ditto geo

[09:59] {geo} target vad?

[09:59] {Threei}  dropped into support a little too sharp for my taste guys... cover half to protect yourself from sudden snapback

[09:59] {cujo} got ya

[09:59] {geo} roger

[10:00] {Threei}  target is, ummm... with any market help, it won't even hold 23

[10:00] {geo} out

[10:00] {Threei}  *JAN CONSTRUCTION SPENDING M/M: -3.3% V -1.5%E

[10:00] {Threei}  *FEB ISM MANUFACTURING: 35.8 V 33.8E; PRICES PAID: 29 V 33.5E

[10:01] {Threei}  trail stop to above .50 for the balance

[10:02] {geo} sigh

[10:02] {Threei}  ?

[10:02] {geo} scalper regret

[10:02] {geo} all out in 30s

[10:02] {cujo} out .32, only had a small lot so couldn't partial out. 

[10:03] {geo} hehe cujo same here

[10:03] {cujo} :)

[10:03] {dino} rimm sm l .51

[10:03] {Threei}  if you intend to scalp, why ask me about target... and if you asked and got answer "under 23", why cover in full :)

[10:03] {geo} didnt have vad's weight bearing down on it so bailed

[10:04] {geo} (his 20k shares)

[10:04] {geo} wow cat

06[10:04] * geo bows to vad

[10:06] {ese} dino you have an opinion on MICC

[10:06] {Threei}  under 23

[10:06] {geo} ok the world going to 0

[10:06] {Threei}  of course it does

[10:07] {nemo} trap door is opening

[10:08] {geo} damn another day of going to work and having to deal with the 401k whiners

[10:08] {nemo} huh?

[10:08] {geo} lol

[10:09] {geo} have guys who complain every time market goes down

[10:09] {nemo} ohhhhhhhh

[10:09] {geo} i tell em i only go long

[10:09] {nemo} tell them don't worry...world is coming to an end anyway

[10:09] {geo} vad, cat basic weakness or news?

[10:10] {geo} V gettnig pounded too

[10:10] {Threei}  no news

[10:10] {Threei}  this is our short candidate on daily basis ever since it broke 30

[10:10] {geo} nice...... 

[10:10] {Threei}  original idea was:

[10:11] {Threei}  it was hyped by prez as a company benefitting from stimulus package, ready to start rehiring etc,

[10:11] {Threei}  and after simulus passing, it broke down anyway

[10:11] {Threei}  so, price-information divergence...

[10:11] {Threei}  have a look at it

[10:12] {dino}  micc, dk

[10:12] {geo} i thought most of their money is made in helping outsource stuff to china by building their factories

[10:12] {geo} and thats dead

[10:12] {geo} barely a few up days on daily

[10:13] {geo} i guess i should have been reading logs :(   {----geo lazy

[10:13] {nemo} dino, where was your stop on RIMM?

[10:13] {dino} micc, i like for bounce if market does

[10:14] {dino} wow 6890s

[10:15] {Threei}  you are not really surprized dino, are you

[10:15] {dino} rimm hard stop is .09 fwiw

[10:15] {dino} stopped

[10:15] {ese} L cedc .25 1/2

[10:16] {dino} nothing surprises me anymore

[10:16] {Threei}  we have normal end of the world day

[10:16] {Threei}  notice:

[10:16] {nemo} think it's too early to start drinking?

[10:16] {Threei}  both shorts on CAT were not scalps, while RIMM long gave scalping profit only

[10:16] {Threei}  tells you something?

[10:17] {nemo} yeah, kitchen sink day

[10:18] {cujo} l ED .01

[10:18] {Threei}  .85 srtop cujo?

[10:18] {nemo} the Q's aren't ready to test that 27.10 level

[10:18] {cujo} yes

[10:18] {cujo} have it at .83

[10:18] {cujo} small lot

[10:19] {ese} L  cbst .54 1/2

[10:20] {ese} eeeeeee.........chased it.......probably shouldn't have done that

[10:20] {geo} thanks for cedc ese

[10:20] {geo} got .1

[10:21] {ese} i'm gonna hang just a little longer and see what happens geo

[10:21] {Threei} Long Setup:  APPL  .80 break half lot

[10:22] {Threei}  stop under .65

[10:23] {Threei}  1:1

[10:23] {Threei}  and over

[10:23] {Threei}  out in full

[10:23] {Threei}  90.09

[10:23] {geo} nice vad

[10:23] {geo} all out .08

[10:23] {geo} TY

[10:23] {Threei}  taking esiest money on a long side for nowe, don't want to oversit them

[10:24] {buyemsellem} nice, thank you

[10:24] {Threei}  :0

[10:24] {cujo} ditto

[10:24] {dptl} +.17 aapl ty

[10:24] {Threei}  sheesh, what's with typing

[10:24] {Threei}  just when I think my typing ccan't be any worse

[10:24] {Threei}  it hits new low

[10:24] {Threei}  (just like market)

[10:25] {nemo} well, on the bright side...it can only get better

[10:25] {Threei}  that's what I thought, just before it got worse

[10:25] {nemo} Look...I'm trying to be an optimist for a couple of minutes...sheesh

[10:25] {Onix} ty Vad, grabbed some in AApl

[10:25] {cujo} ED just closed gap

[10:26] {Threei}  onix :)

[10:26] {Threei}  sorry nemo... no optimism allowed

[10:26] {Threei}  nor pessimisim

[10:26] {nemo} neutral observations

[10:26] {geo} CMI being killed too

[10:26] {Threei}  :)

[10:26] {Threei}  heh

[10:26] {Threei}  AIG

[10:26] {Threei}  CEO LIDDY: SITUATION IS DEPENDENT UPON WHAT OCCURS IN CAPITAL MARKETS IN SHORT TERM, WHETHER EQUITY CAN SUPPORT DEBT, CANNOT SAY 100% WHETHER WILL COME BACK TO US GOVT AGAIN - CNBC COMMENTS

[10:27] {magoo} out aapl

[10:27] {magoo} .09

[10:27] {magoo} TY vad

[10:27] {ese} out .cedc .60 

[10:27] {ese} uncomfororable with it

[10:27] {Threei}  welcome mags

[10:27] {ese} +.-6

[10:27] {Threei}  4 for 4 so far

[10:27] {ese} .06

[10:27] {dino} vz sm l .00

[10:28] {Threei}  or, 3 1/2 for 3 1/2, last CAT short was rather idea than a firm call

[10:28] {cujo} ED out 1:1

[10:28] {ese} sory out CBST not cedc

[10:28] {Threei}  good trading this morning guys

[10:28] {ese} too many c's

[10:29] {Onix} yes, thanks to you there Vad :D

[10:29] {Threei}  well, I refered to those trades that folks took without me

[10:29] {Threei}  but I appreciate the sentiment nonetheless {G}

[10:29] {geo} rumor people selling gold to meet margin calls today

[10:29] {Onix} :/

[10:30] {Threei}  I don't think I've ever seen a trading vehicle so rich in rumors and speculations department as gold

[10:30] {geo} :)

[10:31] {cujo} the whole inflation adjusted value thing always pops up sooner or later with gold..

[10:31] {Threei}  endless "chinese are buying gold, IMF is dumping gold, pjilippines are buying due to marriage season" etc

[10:31] {ese} out CEDC also .31 =}06

[10:31] {Threei}  last one is one favorite :)

[10:31] {buyemsellem} which is interesting because you don't have things like management, FDC approvals, etc.

[10:32] {geo} i have some spreads on.... cant bring my self to buy em outright

[10:34] {Threei} Short Setup: RIMM  38 break half lot

[10:34] {Threei}  stop above .10

[10:38] {Threei}  UPDATE: USTR -OBAMA SEEKING TO GET CONGRESSIONAL APPROVAL FOR NEW PANAMA TRADE ACCORD

[10:39] {geo} hmm rare healthcare up

[10:39] {geo} BAX

[10:39] {Threei}  RIMM over 1:1

[10:40] {cujo} great Call Vad

[10:40] {buyemsellem} another good one

[10:40] {Threei}  lol, JPM

[10:40] {Threei}  HEARING JP MORGAN ANALYST SAYS CHK IS FAVORITE E&P STOCK AT THESE LEVELS (TIMING UNCERTAIN)

[10:40] {Threei}  something's wrong with their taste eh

[10:40] {Threei}  CHK chart is beyond ugly

[10:41] {Threei}  not sure its mother could love it

[10:41] {Threei}  RIMM{ cover in full if held

[10:41] {geo} all out .65

[10:41] {geo} lovely vad

06[10:41] * Threei slaps geo around a bit with a large roll of cash

[10:41] {Threei}  don't call me lovely

[10:41] {geo} :)

[10:42] {cujo} way to hold patience

[10:42] {dino} nice 3i

[10:42] {nemo} beauty vad

[10:42] {Threei}  not unless you have a proof you are female

[10:42] {geo} only had 3rd left

[10:42] {Onix} ty Vad, got some in RIMM :)

[10:42] {Threei}  welcome guys

[10:42] {Threei}  CAT stopped making new lows with market

[10:43] {Threei}  not ready to try long on it but observing

[10:43] {buyemsellem} interesting

[10:43] {pita} gm all, ty Vad Rimm

[10:43] {Threei}  retreated a bit too far from 23, obvious resistance to break

[10:43] {Threei}  pita :)

[10:44] {Threei}  ideally,

[10:44] {Threei}  if CAT consolidates closer to 23 for a while, not losing support of a nice tight range while market drops,

[10:44] {Threei}  and then breaks 23 with market bounce,

[10:45] {Threei}  that would be our long trigger

[10:45] {geo} in bax

[10:45] {Threei}  but don't go for it if it just breaks now

[10:45] {Threei}  let it form pronounced range

[10:46] {Threei}  CAT hasn't show worthy strength in ages, I prefer to miss the play on it rather than go for so-so setup

[10:47] {dino} \micc sm l .45

[10:47] {geo} heh market rinsed and WHR up

[10:48] {geo} tough crowd

[10:48] {Threei}  WHR from Fri after martket:

[10:48] {Threei}  Reaffirms forecast for FY09 EPS (cont ops) $3.00-4.00 v $3.09e, as issued on 2/9

[10:49] {nemo} Interesting, white goods manufacture reaffirming profits

[10:49] {Threei}  people do need their jakkuzzis, recession or not, right?

[10:49] {geo} rinse = whirpool washing get it?

[10:49] {nemo} cute

[10:49] {dino} rimm sm l .70

[10:49] {geo} sheesh

[10:49] {Threei}  ah come on geo... that's too deep for us

[10:49] {geo} sniff

[10:50] {Threei}  you really forgot during your winter break, didn't you

[10:50] {Threei}  tree good, fire bad

[10:50] {geo} heheheh

[10:50] {geo} true true

[10:50] {Threei}  keep at this level, and we will understand you

[10:51] {Threei}  OK, so far CAT is trying to do what it can

[10:51] {geo} anyone took bax? paying well

[10:51] {Threei}  let's designate .85 - .90 as support to hold

[10:51] {Threei}  and if market against all expectations strenghtens, 23 break will be worth a try

[10:54] {geo} man ABX just whipped

[11:00] {dino} the usual -3% hitting s/p, dji

[11:00] {Threei}  well kitty

[11:00] {Threei}  let's see if you can bounce

[11:04] {magoo} in

[11:04] {dino} mtxx straight down fast

[11:06] {dptl} stop under .88 cat?

[11:06] {Threei}  .85 for a day rade, .89 for hardcore scalpers

[11:06] {dptl} ok ty

[11:07] {Threei}  market weakens more

[11:08] {Threei}  doesn't feel like flush is coming though

[11:08] {cujo} but it is lunch....

[11:08] {Threei}  yeah

[11:09] {nemo} It's only 11

[11:10] {Threei}  CAT is willing... just needs a little help

[11:12] {wulff} catnip...

[11:12] {Threei}  in case market flushes down,

[11:12] {Threei} Short Setup: RIMM  .50 break half lot if stays below .65

[11:14] {Threei}  feels to me though as snapback is coming

[11:15] {Threei}  RIMM is invalidated obviously

[11:15] {magoo} TY AAPL vad

[11:15] {magoo} [11:14] {&Threei}  feels to me though as snapback is coming

[11:15] {Threei}  lol

[11:15] {magoo} hit aapl .80 off that...out .08

[11:15] {Threei}  derivative play eh?

[11:16] {magoo} aapl trong today

[11:16] {magoo} wants up

[11:16] {Threei}  nice spike AAPl

[11:17] {Threei}  you've chosen wisely mags

[11:17] {nemo} is that a quote Vad?

[11:17] {Threei}  wise magoo... anyone's shuddering of this image?

[11:17] {magoo} blushing

[11:18] {geo} why do i feel vad is going to regret this statement forever

[11:18] {Threei}  yes nemo but I can't remember the source

[11:18] {Threei}  lol geo

[11:18] {Threei}  I'll retract it quickly, no worry

[11:18] {nemo} Indiana Jones and the search for the Holy Grail

[11:18] {Threei}  yes, ty, remember now :)

[11:19] {dino} lol

[11:20] {geo} cat not too responsive

[11:20] {nemo} Visualizing Vad dressed as a Templar Knight

[11:20] {Threei}  here is my snapback

[11:20] {Threei}  my retina burns nemo

[11:21] {geo} your retina burns?????????

[11:21] {Threei}  CAT stop to .89 for everyone at this point

[11:21] {nemo} that detail would have sucked how many hundreds of years and no vodka!

[11:22] {Threei}  here kitty kitty kitty

[11:22] {magoo} exit ?

[11:22] {geo} if this wasnt trading it would be gross

[11:22] {Threei}  half or scalp on .10 break

[11:22] {geo} [08:22] {&Threei}  here kitty kitty kitty

[11:23] {Threei}  if uncomfortable, just scratch it for a profit not worth mentioning

[11:23] {Threei}  with morning profits, I feel fine risking 11-12 cents

[11:24] {geo} true that.... the cushion makes it easy to sit in trade

[11:25] {Threei}  eqzaktly

[11:26] {Threei}  as tempting as it is to take tiny profit and be able to claim 100% day, I recognize that it's just ego talking

[11:26] {nemo} Mmmmmhhhh...I thought they were demons

[11:27] {nemo} in my head, I mean

[11:27] {geo} flush?

[11:28] {Threei}  stopped CAT

[11:28] {geo} sigh

[11:28] {geo} better to have loved and lost

[11:28] {nemo} short below .80 to test low?

[11:28] {dptl} stopped cat

[11:28] {Threei}  not into sharp selling

[11:29] {nemo} too much volume on this drop?

[11:29] {Threei}  sharp price dive

[11:29] {Threei}  we don't chase those

[11:30] {wulff} short RIMM ?

[11:30] {Threei}  FED'S ROSENGREN: TROUBLED ASSETS SHOULD BE MOVED OFF BANK BALANCE SHEETS

[11:31] {Threei}  need some consolidation first wulff

[11:31] {nemo} Isn't that how we got in the mess in the first place?

[11:31] {Threei}  without it, it's just aimless wadnering up and down

[11:31] {wulff} like my account

[11:32] {geo} wow

[11:32] {geo} we have a dawg and a wulff

[11:32] {Threei}  and cujo

[11:32] {cujo} yup :) grrrr

[11:32] {nemo} send them after the cat!

[11:32] {geo} whats a cujo?

[11:32] {cujo} a rabid dog

[11:32] {nemo} Saint Bernard

[11:32] {geo} ahh

[11:33] {dino}  nmcd wants green

[11:33] {geo} nmcd?

[11:33] {cujo} mcd

[11:34] {cujo} sry wrong window

[11:39] {cujo} 95 pts and counting...

[11:40] {Threei}  95?

[11:40] {Threei}  on what?

[11:40] {Threei}  DJI is -211

[11:40] {cujo} was 205, just waiting for that 300

[11:40] {Threei}  ah

[11:40] {Threei}  countdown :)

[11:40] {nemo} Larisa's missing this

[11:41] {dino} vacation

[11:41] {Threei}  I bet she is so not

[11:41] {cujo} {cujo} -300

[11:41] {nemo} tongue in cheek

[11:42] {wulff} AAPL only + on my list

[11:43] {buyemsellem} yeah, that and anything inverse

[11:44] {buyemsellem} oh, don't forget VIX

[11:44] {Threei}  where is VIX?

[11:44] {geo} yeah BAX WHR all coming down

[11:44] {nemo} Appl forming an inverted C&H

[11:44] {geo} 51

[11:44] {buyemsellem} 51.04, +4.69 or +10.12%

[11:45] {Threei}  a bit up but way off Nov highs

[11:45] {buyemsellem} yup

[11:45] {Threei}  look at DRYS

[11:46] {nemo} Got a magnifying glass?

[11:46] {geo} all wet thats DRYS

[11:46] {Threei}  lol

[11:46] {Threei}  some amazing prices out there

[11:47] {Threei}  look at UAUA

[11:47] {nemo} damn shoulda shorted aapl

[11:47] {buyemsellem} red aapl

[11:47] {cujo} DOW in the green

[11:48] {cujo} the stock not the index

[11:48] {nemo} worm in it

[11:49] {geo} yup problem with value investing now is no one knows whats vale anymor

[11:49] {geo} ask bill miller

[11:49] {Threei}  or Buffet

[11:49] {geo} true

[11:50] {geo} poor guy beat sp 15 years in row ....now 10 yeal return below sp

[11:50] {geo} correction i dont think he is poor

[11:51] {pita} RIMM sinking

[11:52] {Threei}  yeah... I thought of conservative short entry when it bounced back into .50 after breakdown... hwesitated

[11:52] {Threei}  too bad

[11:53] {pita} 2020 hindsight

[11:53] {dino} fdo, dtlr, apol, athn, rate, cedc, only watchers up

[11:53] {geo} me short celg and esrx

[11:54] {magoo} gettin ugly now

[11:54] {Threei}  now??

[11:54] {Threei}  lol

[11:56] {geo} hey vad

[11:56] {geo} chaer on vacation?

[11:56] {Threei}  let me e-mail him

[11:56] {Threei}  he popped up for a minute last week

[11:57] {geo} magoo dcc pls

[12:00] {Threei}  what kind of stupid comment is this:

[12:00] {Threei}  FSLR

[12:00] {Threei}  HEARING SOME RECENT WEAKNESS BEING ATTRIBUTED TO VAGUE CHATTER THE CO. CANCELED OUT CONFERENCE IN CA

[12:00] {Threei}  as if in this climate some parricular reason is needed for a stock weakness

[12:01] {dino} had nothing to do with forecast, lol

[12:01] {Threei}  yeah

[12:01] {Threei}  if they were still coming to that conference, stock surely be up, right?

[12:02] {Threei}  oh well

[12:02] {Threei}  I am not holding my breath for the day when market comments will be done by someone who actually made a dime trading

[12:13] {Threei}  my question of the day: are we getting the speech and at what time?

[12:13] {cujo} CAT right by new lows...

[12:13] {nemo} Cat coming into the lows, are we looking at another short

[12:13] {Threei}  it formed inverted cup

[12:14] {Threei}  if adds handle, yes

[12:14] {cujo} ss .53, jumped gun

[12:14] {nemo} look at friday chart, I think this is the handle?

[12:15] {Threei}  I am talking about intraday

[12:15] {nemo} I was just going to say, there I go thinking again.

[12:15] {Threei}  yeah... as if you don;t know better

[12:15] {nemo} Did that feel good?

[12:16] {Threei}  kicking thy neighbor? always?

[12:16] {Threei}  I mean, always

[12:16] {nemo} in perpetuity?

[12:18] {dptl} so? cat?

[12:19] {Threei}  I don't know dp

[12:20] {Threei}  no confident read

[12:20] {Threei}  to me, this is right setup at the wrong time

[12:20] {Threei}  I like this kind of chart formations, I just avoid playing them at this time of the day

[12:20] {dptl} ok ty

[12:21] {dino} pressure building, big move in the making

[12:22] {dino} cedc filling open gap

[12:24] {Threei}  I am so tempted by STT long...

[12:24] {cujo} doh! stopped. -.09

[12:25] {Threei}  sigh... hesitated again, lol

[12:25] {Threei}  going for a smoke

[12:25] {dptl} me too

[12:27] {magoo} AAPL the key today

[12:28] {magoo} very indicative

[12:33] {dino}  cedc sm l .75

[12:34] {dino} giddy-up

[12:35] {Threei}  REPORTEDLY ECB IS PUTTING TOGETHER AN ASSET PURCHASE PLAN SIMILAR TO BOE, FED PROGRAMS - UNCONFIRMED REPORT CITING ECB SOURCES

[12:35] {Threei}  - Under the emerging ECB plan, national central banks could buy short-term corporate paper or securities.

[12:35] {Threei}  - 50bps refi rate cut is most likely outcome at Thursday's ECB policy meeting.

[12:36] {cujo} that c&h forming CAT Vad?

[12:37] {Threei}  more or less...

[12:37] {cujo} stp would be over .70?

[12:37] {Threei}  same thing still... chart's right, time of the day is wrong

[12:38] {cujo} yeah

[12:39] {nemo} question on that Vad:  time of day is wrong, but day is definitely down, does that way in favor of the setup midday (heheh as it spikes)...or did I just answer the question...damn thinking

[12:39] {nemo} way=weigh

[12:39] {Threei}  it's just that at this time market is more likley to shake out than to follow up the setups

[12:40] {nemo} regardless of the prevailing trend?

[12:40] {Threei}  there is no trend right now

[12:40] {Threei}  there is aimless wandering

[12:40] {nemo} I understand, but that the main trend today was down.

[12:40] {Threei}  sure

[12:41] {Threei}  what good general direction for the day is if you get into the trade right now, and get shaken out?

[12:41] {nemo} understand

[12:41] {Threei}  downtrend was in place from 10 to 12

[12:42] {nemo} Yea, I guess arguably it's been trending up since

[12:43] {Threei}  well, not really up

[12:43] {Threei}  rather consolidating

[12:43] {Threei}  for who knows what

[12:44] {Threei}  the only scenario under which I'd feel comfortable:

[12:44] {Threei}  suden sharp move down in the market, CAT slight delay for entry

[12:45] {Threei}  anything else is 50/50

[12:45] {Threei}  may work, may give a few cents and snap back

[12:45] {Threei}  FED'S LACKER: PROPOSED TREASURY TAKEOVER OF CREDIT PROGRAMS FROM THE FED

[12:47] {Threei}  anyone understands this?

[12:47] {Threei}  BELIEVES THE FED'S CREDIT ACTIONS CAUSE MORAL HAZARD

[12:47] {Threei}  - Using Fed's balance sheet as path of least resistance because it bypasses Congress

[12:47] {Threei}  - Should not be difficult to transfer Fed lending to Treasury's books

[12:47] {nemo} more comrade speak?

[12:48] {dino} lods

[12:48] {Threei}  well, yes, but it sounds like potential huge reworking of the financial system

[12:48] {nemo} I think it's accounting shuffling from one organization to the other

[12:48] {Threei}  with changing of the very role of the Fed

[12:49] {Threei}  if this is what's implied, I want to stay in cash until something clears up

[12:51] {Threei}  - Warns that government intervention adds to market uncertainty.

[12:51] {nemo} Going for your title again

[12:55] {dino} mcd green

[12:58] {buyemsellem} isn't this special timing

[12:59] {buyemsellem} prez speech

[12:59] {nemo} what?  Obama speaking again?

[12:59] {Threei}  yes, lol

[12:59] {nemo} really?

[12:59] {Threei}  yes

[13:00] {Threei}  russian-speaking may remember the slogan: ni dnja bez strochki

[13:01] {nemo} no tickee no shirty?

[13:01] {Threei}  paraphrasing for this situation and Enlgish... no day without speceh

[13:06] {Threei}  GE

[13:06] {Threei}  CEO IMMELT DISCLOSES PURCHASE OF 50K SHARES AT $8.26 - FILING DATED 3/2

[13:06] {Threei}  big spender, he is

[13:07] {nemo} FAS/FAZ compressing

[13:12] {Threei}  yawn

[13:15] {magoo} q server vad?

[13:15] {Threei}  9

[13:15] {magoo} ty

[13:22] {Threei}  BAC CEO: GOVT AID FOR MERRILL TRANSACTION WAS A 'TACTICAL' ERROR

[13:22] {Threei}  meaning?

[13:23] {Threei}  chaeron forgot how to connect the room

[13:23] {nemo} now they can't pay bonuses

[13:24] {dino} i think they are more worried that govt citi's them

[13:24] {Threei}  since when the bonuses for your normal day-to-day job become expected

[13:25] {Threei}  oh, I forgot... without them brightest talents will leave

[13:25] {Threei}  to man hotdog stands I guess

06[13:25] * Threei slaps Chaeron around a bit with a large roll of cash

[13:25] {Chaeron} thanks

[13:25] {Threei}  always

[13:25] {Threei}  how have you been?

[13:25] {Chaeron} can always use it... :)

[13:25] {nemo} all that talent that got us into this septic tank in the first place!

[13:26] {Chaeron} great thanks

[13:26] {Chaeron} how's everyone? Am 

[13:26] {Chaeron} Am I interrupting?

[13:26] {Threei}  yes, we were in deep coma

[13:26] {Chaeron} as usual

[13:26] {Threei}  dcc chaeron :)

[13:27] {Threei}  CEO: GOVT AID FOR MERRILL TRANSACTION WAS A 'TACTICAL' ERROR; POSSIBLE BOA COULD PAY BACK TARP FUNDS IN TWO TO THREE YEARS - FT INTERVIEW

[13:34] {Threei}  - says $10B would have been a better sized request

[13:34] {Threei}  how much did they get?

[13:36] {dino} 8 bucks

[13:51] {Threei}  OK guys

[13:51] {Threei}  ready to start trying for an upward move?

[13:52] {magoo} yup

[13:52] {pita} today?

[13:52] {Threei}  warning: can cost a stop or two until we get it right

[13:52] {Threei}  CAT, .50 break for a scalp

[13:53] {Threei}  if holding above .35 - .40

[13:53] {Threei}  STT, half lot long closer to .30

[13:54] {nemo} in cat

[13:54] {Threei}  with stop .15 for STT

[13:55] {magoo} in cat

[13:55] {Threei}  if no pullback, wait for market spike and grab STT with stop under .30

[13:55] {nemo} here's some milk for ya' sweetie

[13:58] {nemo} tht's two teleports for cat

[13:59] {Threei}  .50 break should catapult STT

[14:04] {dino} rally time, lately around 2-2:30, sell offs after 3

[14:04] {Threei}  CAT 1:1 baby

[14:05] {dawg} yessir

[14:05] {nemo} 1/2 out 1:1

[14:05] {nemo} cat

[14:05] {Threei}  if partialling, move stop to .45 for the balance

[14:06] {Threei}  STT still hasn't decided... never pulled back enough for entry, never nbroke .50

[14:06] {Threei}  US HOUSE LAWMAKERS ASK DOE TO REVIEW VITOL OIL CONTRACTS

[14:06] {Threei}  - Note that Vitol is the largest independent physical trader of oil.

[14:06] {Threei}  - Reminder: Back on 12/24, the CFTC said it was looking into Vitol's use of floating tankers as oil storage and Hedge Fund activities

[14:07] {Threei}  FED'S LACKER: SUPPORT INFLATION TARGET OF 1.5%, US APPROACHING A LIMIT ON DISCRETIONARY SPENDING; CONCERNS OF JOB MARKET HITTING CONSUMER SPENDING

[14:07] {Threei}  - Notes risks to deflation have recently fallen

[14:07] {Threei}  - Remarks that growth will increase when households stop trimming spending{

[14:16] {Threei}  if STT triggers, stop under .35

[14:17] {dptl} in.51

[14:20] {Threei}  no worky STT

[14:21] {nemo} stopped cat

[14:21] {dptl} ye...stopped

[14:26] {cujo} Vad, how has real estate in Canada been?

[14:26] {Threei}  fairly stable so far

[14:26] {Threei}  retreated of course

[14:26] {Threei}  but nothing on a scale of US

[14:26] {cujo} did you guys have any exposure in the banks to subprime at all?

[14:27] {Threei}  not in a sense of subprime lending in Canada

[14:28] {cujo} ss rimm .07

[14:30] {Threei}  what's with BAC buying

[14:30] {nemo} Immelt?

[14:31] {Threei}  ?

[14:31] {nemo} bad joke...he bot 50k of GE why not some more pos

[14:31] {Threei}  lol

[14:32] {nemo} my jokes are like my trading lately, huh Magoo?

[14:32] {Threei}  SEC'S WALTER: URGES CONGRESS TO MERGE THE SEC WITH THE CFTC, BELIEVES SEC SHOULD HAVE OVERSIGHT OF DERIVATIVES

[14:33] {cujo} stopped -.04

[14:34] {Threei}  wow

[14:36] {Threei}  who said where what?

[14:36] {nemo} Yeah, no kiddin' unless it was that Walter comment

[14:36] {Threei}  nah

[14:43] {cujo} anyone think RIMM gonna break .50 and run?

[14:44] {nemo} I'm not supposed to think

[14:44] {cujo} me too.  hurts.

[14:45] {Threei}  I am willing to think for 3 minutes straight... who pays for Advil?

[14:45] {nemo} use vodka

[14:46] {cujo} uhh, i have a bottle.

[14:46] {nemo} vodka or advil

[14:46] {Threei}  nah... vodka helps stop thinking but not with headache

[14:46] {Threei}  unless you are dp... he uses vodka as an universal cure

[14:47] {dptl} :)  ....

[14:49] {Threei}  STT fooled us eh

[14:51] {Threei}  I am waiting for magic words

[14:51] {Threei}  m-t-m abolished

[14:51] {Threei}  buying 5K BAC, 5K FAS

[14:51] {Threei}  closing my eyes

[14:51] {nemo} short FAZ

[14:51] {Threei}  and not opening them for 30 minutes

[14:54] {Threei}  FAZ won't be available

[14:54] {nemo} True

[14:54] {Threei}  one of those announced non-marginable recently

[14:54] {nemo} Oh

[14:58] {Threei}  by the way,

[14:59] {Threei}  since m-t-m change will cause market to rally but won't fix economy fundamentally... is this the last bullet they have?

[14:59] {nemo} bad bank?

[14:59] {Threei}  any more ammon in their arsenal we can think of?

[14:59] {Threei}  yeah, I guess

[15:00] {cujo} i can't think of anything.

[15:00] {nemo} Forgot...I'm not supposed to think...damn

[15:00] {Threei}  sorry

[15:00] {Threei}  didn't mean to cause you headache

[15:00] {nemo} Yeah, you tricked me, it's your fault

06[15:00] * Threei mails nemo a bottle of Advil

[15:01] {Threei}  FDIC'S BAIR: DOES NOT FORECAST GOVT 'RUNNING LARGE BANKS'; THERE ARE DIFFICULTIES IN BANK NATIONALIZATION

[15:01] {Threei}  OK, "no nationalization" isn't working anymore

[15:01] {Threei}  not even blinking on that

[15:01] {cujo} ss bac .76

[15:01] {nemo} in name...as they attach restrictions to money they are nationalizing

[15:02] {Threei}  FAS sharp drop

[15:05] {Threei}  cujo... your call for -300 looks better and better

[15:05] {cujo} got this feelin...

[15:06] {cujo} Bac +.10

[15:06] {Threei}  kitty is back to low

[15:08] {Threei}  FDIC'S BAIR: REITERATES WOULD BE 'SURPRISED' IF A US BANK WAS NATIONALIZED; DOES NOT FORECAST GOVT 'RUNNING LARGE BANKS' - CONF COMMENTS

[15:08] {Threei}  uh oh

[15:08] {Threei}  143rd reasurance about no nationalization in 5 week...

[15:08] {Threei}  sounds ominous

[15:11] {Onix} just look @ that craze PALM on such a day!? :O

[15:12] {cujo} that pre better be something amazing

[15:17] {Threei}  SLM

[15:17] {Threei}  FITCH PLACES RATINGS ON NEGATIVE WATCH; AFFECTS APPROX $39.7B IN DEBT AND PREFERRED STOCK

[15:20] {Threei}  fern

[15:20] {Threei}  why did we ever cover SLM?

[15:20] {buyemsellem} or any other short

[15:20] {Threei}  lol

[15:20] {cujo} BAC inverted sc&h?

[15:20] {cujo} c&h

[15:21] {fernp} don't know :)

[15:21] {Threei}  can't tell cujo, this is tough one

[15:21] {cujo} i'm scared...

[15:21] {Threei}  hmmm

[15:21] {nemo} although FAZ just broak the high

[15:21] {Threei}  is rabid dog is scared...

[15:21] {Threei}  if

[15:21] {nemo} no, he's sick

[15:22] {cujo} i'm getting better.  Had a cold or flu last week....  Better now.. 

[15:24] {Threei}  OCC'S DUGAN: US ADMINISTRATION HAS MADE PROGRESS ON PUBLIC/PRIVATE ASSET PLAN; RUNNING LARGE BANKS 'LAST RESORT'

[15:25] {Threei}  who said they are capable of running them at all?

[15:25] {cujo} FAZ taking off

[15:26] {cujo} well, not taking off

[15:26] {nemo} Vad, haven't the last few closing hours been relatively muted?

[15:27] {Threei}  mostly

[15:27] {Threei}  unless prez spoke on the last minutes

[15:28] {dptl} ok....have a good evening all

[15:28] {Threei}  take care dp

[15:28] {cujo} c ya dp

[15:33] {dino} been down tho

[15:38] {fernp} funny and educational video about "the crisis"

[15:38] {fernp} http://vimeo.com/3261363

[15:39] {Threei}  ty fern

[15:39] {fernp} welcome

[15:41] {Threei}  hard to imagine FAS going any lower

[15:41] {Threei}  which probably means it will, lol

[15:41] {cujo} can you imagine FAZ going higher? :)

[15:41] {nemo} sure...seen skf

[15:41] {Threei}  FAZ used to trade at 200 :)

[15:42] {buyemsellem} S&P 700?

[15:42] {Threei}  see 11/21

[15:42] {cujo} {cujo} -300

[15:42] {Threei}  12 left

[15:44] {Threei}  -305

[15:44] {Threei}  good call

[15:44] {buyemsellem} there it is

[15:44] {buyemsellem} 699

[15:44] {cujo} boom goes the dynamite

[15:46] {dino} wow, used to take 3-5 days to drop 5%, s/p did it today

[15:47] {dino} i have to reviise my dji zero target in 15 weeks to 5 weeks at this pace

[15:47] {Threei}  lol

[15:48] {dino} all of this because of an accounting change, wow!

[15:48] {Threei}  well, I think there is more to it than that :)

[15:49] {dino} yes, but it was the trigger imo

[15:49] {nemo} I remember this starting in 2007 w/the subprime guys going south

[15:50] {Threei}  what is the difference between taking something overnight today and buying lotto ticket?

[15:50] {cujo} lotto ticket limited loss

[15:50] {nemo} going short is less of a risk than going long...

[15:51] {dino} -10%+ since wed. that the only edge immo

[15:51] {cujo} holding over night tonight....  another story...

[15:51] {Threei}  I am with cujo... lotto ticket won't cost nearly as much

[15:51] {nemo} Yep...Megamillions 212 million

[15:51] {cujo} nice.  Gonna get me some tickets tonight. 

[15:53] {Threei}  well, me happy with our performance in this market

[15:54] {Threei}  5 for 7 if my memory serves me right

[15:54] {nemo} yep..tiptoeing through the minefield nicely

[15:54] {buyemsellem} definitely a good day

[15:54] {nemo} one was a 1/2

[15:54] {cujo} yup, good day today

[15:54] {Threei}  let's stay this way... restrained, careful, taking safe trades

[15:55] {Threei}  until markey loses its marbles and decides to raly against all odds

[15:55] {dino} iart

[15:56] {Threei}  cruel

[15:56] {Threei}  too close to eod though

[15:57] {dino} isrg ouch

[16:00] {Threei}  okay guys, thank you all

[16:00] {nemo} P&Q 

[16:00] {Threei}  have a great evening

[16:01] {Threei}  see you tomorrow

[16:01] {vint} bye all

[16:01] {cujo} c ya

[16:02] {fernp} good nite all