Friday, May 29, 2009

May 29 2009

Short day as I take off for the weekend in Seattle. Got two nice winners though: long DRYS for 20 cents and long ARRS for 40.

Session Time: Fri May 29 00:00:00 2009

[08:01] {Threei}  IMF's Strauss-Kahn: Governments need to begin considering cutting debt loads
[08:01] {Threei}  - Current expectations for a recovery in 2010 are based on the expectation of no further banking sector declines
[08:01] {Threei}  ***Reminder Back on Apr 22nd: IMF forecasted the global economy contracting 1.9% in 2010 versus prior view of growth of 3%
[08:30] {Threei}  *Q1 PRELIMINARY GDP PRICE INDEX: 2.8% V 2.9%E; CORE PCE Q/Q: 1.5% V 1.5%E
[08:30] {Threei}  *Q1 PRELIMINARY GDP ANNUALIZED: -5.7% V -5.5%E; PERSONAL CONSUMPTION: 1.5% V 2.0%E
[08:31] {pita} greetings
[08:31] {Threei}  pita :)
[08:31] {nemo} :)
[08:35] {fernp} good morning everybody
[08:35] {nemo} flora :)
[08:36] {Threei}  fern :)
[08:36] {fernp} flora?
[08:37] {nemo} sorry generalization...definitely don't fall under fauna with a handle like "fern"
[08:42] {patience} good morning guys, another beautiful day in paradise here
[08:43] {Threei}  patience :)
[08:45] {vinod} good morning and its friday....liquid lunch time!!!!!!!!!
[08:45] {Threei}  vinod :)
[08:45] {nemo} I 2nd the motion Vinod, but I'm starting at brunch
[08:46] {vinod} as we called it here  smoke  drink and shoot--nemo
[08:47] {nemo} Shoot what vindod?
[08:47] {vinod} what drug edict shoot?
[08:47] {vinod} inject
[08:48] {nemo} oh, thought you were talking about going to the range
[08:50] {ese} good morning
[08:51] {Threei}  ese :)
[08:51] {nemo} ese
[08:54] {ese} dell beats by .01
[09:01] {Threei}  STSI
[09:08] {chinggis} goodmorning
[09:08] {Threei}  chinggis :)
[09:09] {dino} gm all, got lucky on esi es, took 300 at close, just dumped +4.30
[09:10] {Threei}  dino :)
[09:10] {dino} brb
[09:12] {ese} nice dino....lookin like it's bouncing a bit
[09:15] {Threei}  Prez Obama to create position of "cyber czar"
[09:16] {dino} got lucky,
[09:17] {Threei}  seems to be universal approach - create new level of bureaucracy
[09:21] {vinod} Blame Russian for giving everyone a "czar"
[09:21] {dino} feels like old time russia, all these czar's. obama has forgotton czar is unamerican
[09:21] {nemo} actually it's the Romans
[09:22] {jfjf64} mornin
[09:22] {nemo} Czar-Caesar=Kaiser
[09:22] {ese} dell taking off
[09:23] {dptl} good morning all
[09:23] {Threei}  jf, dp :)
[09:23] {ese} dp jf
[09:24] {dino} nemo is like my wife, correcting me
[09:24] {jfjf64} had problems  gettin on  ya  server  yest afternoon     anybody else????
[09:25] {Threei}  half of the room jf
[09:25] {Threei}  another half was ok
[09:25] {Threei}  shrug
[09:25] {Threei}  mysteries of cyberspace
[09:25] {Threei}  but fear not, czar will make it all better
[09:25] {jfjf64} k ty
[09:25] {dino} jf, i was kicked out around 2:00, was posdting away, magoo said why are you not posting
[09:26] {jfjf64} same  here
[09:26] {ese} ahhhhh that explains why i was just chatting with myself
[09:26] {jfjf64} was  lost  with out  the czar  
[09:26] {jfjf64} lol
[09:26] {cosmo}  czarry 
[09:26] {dino} lol
[09:27] {ese} not that i minded it.......but
[09:27] {nemo} If you were a WOP like me Dino, you'd know these things
[09:27] {dino} running behind, new tenant moving in downstairs
[09:28] {ese} am thinking lng dell vad any advice
[09:28] {ese} long
[09:28] {Threei}  DRYS looks interesting
[09:29] {ese} yes very....still have my 5k position just above 7.00
[09:29] {Threei}  nice
[09:29] {Threei}  well, I believe we are to have a strong day... so DELL should be one of movers, just want a pullback first
[09:29] {Threei}  hate chasing these slow stocks
[09:29] {dino} axys -5
[09:30] {dino} opps bad print
[09:30] {Threei} Long Setup:  DRYS  .45 break
[09:31] {nemo} partial
[09:32] {Threei} Long Setup:  ARRS  12 if stays above 11.90
[09:32] {Threei}  DRYS 1:1, half out
[09:32] {Threei}  scalpers take profit
[09:33] {ese} out drys .55 + .53
[09:33] {dino} gj
[09:33] {ese} tks
[09:34] {pita} out drys ty
[09:35] {Threei}  watching for possible re-enttry
[09:36] {Threei}  got away
[09:38] {Threei}  ARRS, half out
[09:38] {Threei}  scalpers have 1:1
[09:38] {Threei}  I will try to milk this one
[09:38] {Threei}  feels to me worth more than scalp
[09:39] {ese} .77 high for drys 2 weeks ago.......might try long there again...if it goes past that who knows
[09:42] {jfjf64} ty ty  drys  arrs
[09:42] {Threei}  welcome
[09:43] {Threei}  1:2 was easy
[09:43] {Threei}  keeping sto for the last portion right under 12 for now
[09:43] {nemo} drys pullback vad?
[09:44] {Threei}  between .50 and .60 I would feel more secure
[09:44] {nemo} near support?
[09:44] {Threei}  but it moves with market without much delay now
[09:44] {ese} just a bizzare pullback in the qqqq's
[09:45] {ese} violent almost
[09:45] {ese} screens instantly red
[09:46] {dino} pretty good pullback
[09:46] {vinod} got FAz 5.00
[09:46] {Threei}  **sub-indices:
[09:46] {Threei}  - Prices Paid: 29.8 v 28.4 last
[09:46] {Threei}  - New Orders: 37.3...more... (related SPY EUR/USD )
[09:46] {dino} alomost 80 pts fast
[09:46] {ese} that explains it.....
[09:46] {nemo} I gotta' get a seat belt for my desk chair
[09:46] {Threei}  Preview: May Final University of Michigan Confidence due out at 9:55amET
[09:46] {Threei}  **consensus expectation: 68.0e v 67.9 preliminary (estimates range between 67 to 71)
[09:46] {nemo} valium prescription too
[09:47] {ese} if thats the money is the market will chase that figure
[09:48] {dino} lukoy smackdown
[09:48] {dino} esl, tcl
[09:49] {ese} drys feels like it's going to have one of it's 1.50 to 2.00 days
[09:51] {dino} tcl maybe gap fill from election
[09:51] {ese}  l drys .65
[09:53] {ese} out drys .74
[09:53] {nemo} how many buggers?
[09:53] {ese} +.09 on alot of shs
[09:53] {ese} 8k
[09:53] {nemo} S***load
[09:53] {jfjf64} nice  nice  ese
[09:53] {nemo} rimm shot please!
[09:54] {nemo} rim
[09:54] {dino} beauty es
[09:54] {ese} tks
[09:54] {nemo} what was your stop ese .55?
[09:54] {ese} can now buy them cobra golf clubs
[09:55] {ese} .60 not room for error
[09:55] {ese} no room
[09:55] {ese} too many shs to risk more
[09:56] {dino} enjoy them
[09:56] {nemo} support was around .65 though
[09:56] {nemo} .55
[09:57] {ese} nope .60 for me thanks
[09:57] {ese} thats $400.00 bills plus commission
[09:58] {ese} even thats too much
[09:58] {nemo} .09 x 8k = 720
[09:58] {ese} yes
[09:59] {ese} stop loss was .60
[09:59] {nemo} tough in under a minute...really had to slave for that...hate to see you suffer so :(
[09:59] {ese} it's a tough job but vads trained me well
[10:00] {ese} probably too many shs though
[10:00] {dino} ment
[10:01] {ese} his scalping video was very helpful.......
[10:03] {ese} never ever considered over 1k until seeing that video........manage the risk and things will work out....will have the odd failure but overall positive
[10:05] {ese} what are you thinking with MENT dino
[10:06] {dino} l around 5
[10:07] {dino} esl interesting as well as tcl around 18.80 gap
[10:07] {dino} perhaps i am too low tho, mkt not helping
[10:08] {dino} watching pru too, good range 38-40s-40.20s last few days
[10:09] {Threei}  ARRS stop to to under .10
[10:10] {dino} cetv drop
[10:10] {jfjf64} thougtt ya were  gone for seattle
[10:10] {ese} tcl   scarry looking to me....thin
[10:10] {Threei}  in 2 hours jf
[10:11] {jfjf64} its okay big guy   2 great  trades
[10:11] {Threei}  ummm... I can go now?? :)
[10:12] {Threei}  DRYS is trying to form C&H
[10:12] {jfjf64} 100 percent
[10:12] {ese} yes
[10:12] {Threei}  ARRS 1:3
[10:12] {dino} tcl manage thru size
[10:12] {ese} i'm likin long drys again if it does that
[10:13] {ese} there goes MENT
[10:14] {Threei}  last trailing on ARRS, to under .15
[10:14] {Threei}  no more trails, will look to sell it on the next leg of the move, probably .40 - .50
[10:19] {nemo} got the consumer confidence survey Vad?  talk about rose colored glasses...sheesh
[10:19] {ese} bstop L drys .85
[10:19] {nemo} stop ese?
[10:19] {Threei}  out ARRS last portion +.41
[10:20] {ese} if in.....just under .75
[10:24] {ese} max positon nemo will be 2k......i like to reduce positions as the day goes along unless there is something i'm really confident about
[10:24] {dino} sm l cetv .75
[10:25] {Threei}  that's a very sensible approach ese
[10:25] {Threei}  plus, risk increases as stock advances
[10:25] {ese} tks
[10:26] {dino} same here es, protect hard won profits
[10:27] {ese}'ve been to Seatle before haven't you?
[10:27] {Threei}  only passing through
[10:27] {Threei}  haven't had a chance to explore
[10:28] {ese} lots of neat things under the city......if i lived in the US it would be New York or Seatle
[10:29] {nemo} Seattle is probably friendlier than NY
[10:29] {ese} would buy a house next to Bill Gates of course
[10:29] {nemo} East Coast is tough
[10:29] {dino} cetv stopped whoosh -.33 at ,.42
[10:29] {jfjf64} for get bout it  new york the best
[10:29] {ese} I really like New York......very international city.....i like all the cultures there...very diverse musically
[10:29] {dino} what the hewck, right back to entry
[10:30] {nemo} rinse, repeat
[10:30] {dino} ]that sucked
[10:30] {pita} have a good trip Vad, good wknd all.  CU Monday
[10:30] {Threei}  thank you pita, havce a gbreat weedkend
[10:30] {Threei}  only with better typing
[10:30] {jfjf64} later pita
[10:31] {ese} see ya pita
[10:32] {ese} need all them funds to start buying in end of month for drys to take off again
[10:32] {dino} cya pita
[10:36] {dino} sm l esl .74
[10:37] {ese} I also have a friend whos been in the US military field band at West Point for the last 26 years....have visited here a few times
[10:37] {Threei}  now that GM goes under 1, I still have the same question
[10:37] {ese} Her.......shes the first feamle to make the band in the history of the west point band
[10:38] {Threei}  why was it trading all this week and why is it trading still?
[10:39] {ese} THAT!!!!!   is a good question
[10:40] {Threei}  this is beyond werid
[10:41] {Threei}  bankruptcy is certain, common will be whiped
[10:41] {Threei}  why is it not halted?
[10:41] {nemo} taxpayer picks up the tab
[10:44] {ese} have removed bstop from drys......breaking .75 invalidates it for me
[10:45] {magoo} ghytgytj
[10:45] {dino} qsii blood
[10:45] {nemo} gaeden mayall lekterolo
[10:45] {Threei}  ugh mags
[10:45] {Threei}  missed good ones
[10:46] {magoo} i know, was supposed to take son to mx track this morn, got canx due to rain, so here i am
[10:46] {Threei}  on supreme court nominee:
[10:46] {Threei}  Pollster Scott Rasmussen reports that 45 percent of Americans believe that legal background and competence are the most important qualities for a nominee, while only 27 percent believe that diversity is the most important.
[10:46] {nemo} frickin' scary
[10:46] {Threei}  ok, but amazes me that there is such a hgih percentage of idiots... 27
[10:47] {nemo} you're surprised!?
[10:47] {nemo} I'm surprised it's that low
[10:47] {Threei}  yeah... shocks me that I am still surprised by that
06[10:47] * nemo slaps Threei around a bit with a large dose of reality
[10:47] {dino} thought justice was supposed to be blind
[10:48] {nemo} thus the blindfold on the statue
[10:48] {Threei}  funny thing is... in USSR, especially in early years, the most important thing defining person's standing was "proletarian origin"
[10:49] {Threei}  one had to have parents from working class in order to be a "valuable member of society"
[10:49] {ese} hmmmmmm
[10:49] {Threei}  hearing all this drivel now about how great it is that she is from working class... can help but wonder
[10:49] {nemo} here's another great headline: ttp://
[10:51] {ese} ment dino....lost track of it.......nice move
[10:52] {Threei}  keeping an eye on MS
[10:53] {jfjf64} seems lots of strength   
[10:53] {Threei}  and look at daily
[10:54] {ese} should go vad if market helps it
[10:54] {Threei}  .25 is a "traditional" long trigger
[10:54] {Threei}  with all kinds of aggressive ones between .10 and .25
[10:55] {magoo} in .20
[10:56] {ese} dndn making noises
[10:57] {dino} tcl sm l .31
[10:59] {jfjf64} comon  fas
[10:59] {dino} esl to flat stuck in mud
[11:00] {magoo} frwakin obama coming up
[11:00] {dino} esl stopped +.02
[11:03] {magoo} out no go
[11:08] {fernp} stopped MS
[11:08] {nemo} this could have an interesting effect on MONDAY:
[11:17] {jfjf64} wow  lk  at arrs
[11:17] {jfjf64} great  x
[11:18] {Threei}  really
[11:18] {Threei}  thanks for pointing that out
[11:22] {jfjf64} ms break 30
[11:25] {Threei}  yup
[11:29] {jfjf64} no mkt help
[11:30] {nemo} yeah but holding range 
[11:30] {jfjf64} yup
[11:35] {nemo} sneaky
[11:38] {jfjf64} no  vol
[11:38] {nemo} traders musta' hit the stripjoints already
[11:38] {ese} vad gone yet?    we can go crazy then eh.........making bad calls .....mischief in general
[11:40] {vinod} I wants it to go down big today
[11:40] {nemo} gollum's here?
[11:40] {dino} sm l pru .80
[11:41] {Threei}  ummm
[11:41] {nemo} janitor woke up
[11:41] {Threei}  try to stay in line for just 1 hour more ese
[11:42] {dino} qsii sm l .09
[11:42] {ese} oppsss busted!!
[11:43] {nemo} hands on the dashboard...assume the position
[11:43] {Threei}  yes, nemo, and woke me up
[11:43] {vinod} 09:46 vinod got FAz 5.00 --damm it is not moving
[11:44] {nemo} don't fight the FED vinod
[11:44] {Threei}  PIMCO's McCulley: Fed will probably be on hold for a few years - TV interview
[11:44] {dino} few years roflol
[11:45] {vinod} drive me crasy. it's not stop either-nemo
[11:45] {nemo} ms not reeacting to qs or spy
[11:48] {nemo} ms invalimudated
[11:48] {nemo} ?
[11:49] {Threei}  yeah
[12:00] {vinod} any news on CTIC?
[12:01] {Threei}  nothing fresh
[12:01] {chinggis} Vad any read on FLEX?
[12:01] {dino} 6:16, form sc to-i/a ctic
[12:02] {dino} tender offer
[12:02] {nemo} sciatic problems?
[12:02] {Threei}  on intraday, no chinggis, too narrow... daily though is indicating possible swing trade as a breakout
[12:02] {chinggis} ok TY
[12:03] {Threei}  3.80 resistance to break
[12:03] {chinggis} ok
[12:04] {jfjf64} ms
[12:04] {Threei}  KONG
[12:05] {Threei}  attacking 52 week high
[12:05] {Threei}  and yesterday's high
[12:06] {dino} lol nemo
[12:06] {nemo} I can turn anything into manure
[12:13] {nemo} is Vad asleep?
[12:14] {Threei}  aint I always?
[12:14] {dino} no, he's just talking to obamination about becoming a canadian czar
[12:15] {nemo} Hail lord Vader
[12:15] {Threei}  lol
[12:16] {Threei}  we have a descendant of russian royalty trying to become a prime minister
[12:18] {dino} ctrp
[12:19] {nemo} did they announce earnings?
[12:21] {dino} couple days ago
[12:22] {Threei}  anyone liked KONG enough to try?
[12:24] {jfjf64} good day all     see ya  monday    vad   enjoy   seattle
[12:24] {Threei}  thank you jf, have a good one
[12:25] {dino} cya jf
[12:25] {Threei}  if you read in the weekend papers about someone throwing things from the Space Needle... you know what happened
[12:32] {Threei}  nice KONG move... second day in a row
[12:32] {dino} qsii stopped
[12:34] {dino} sm s ctrp .15
[12:35] {Threei}  okay guys, good finish for the week
[12:35] {nemo} Have a nice weekend Vad
[12:35] {Threei}  I'll bid you good bye,
[12:35] {Threei}  have a great relaxing weekend
[12:35] {magoo} take care vad
[12:35] {Threei}  off for my trip
[12:36] {dino} have fun vad
[12:36] {chinggis} take care vad
[12:36] {fernp} enjoy Vad
[12:37] {ese} take care vad