Monday, June 22, 2009

Jun 22 2009

That was beyond boring. 5 trades, 2 wins, 3 stops amd a lot of yawns

Session Time: Mon Jun 22 00:00:00 2009

[08:21] {Threei} 8:01:26 AM
[08:21] {Threei} EMCORE Corporation Awarded $5.7M Air Force research laboratory contract
[08:21] {Threei} - Two-year contract calls for EMCORE to demonstrate high efficiency solar cells for space applications, as well as investigate advanced photovoltaic devices based on inverted metamorphic (IMM) structures
[08:21] {Threei} - The contract also includes a provision for an additional twelve-month award of $3.4 million for advanced IMM development once the base contract has been completed.
[08:22] {Threei} MEDX pop, I don't have news for it
[08:25] {_levelseven} single dose of drug cures inoperable prostate cancer...something like that
[08:26] {_levelseven} release of study
[08:27] {Threei} ty
[08:27] {Threei} for some reason doesn't show on my news feed
[08:27] {Threei} ahha
[08:27] {Threei} popped up just now
[08:27] {Threei} Medarex Patients with inoperable prostate disease recover after single dose of drug - The Independent
[08:27] {Threei} - The results were so startling that researchers decided to release details of the two cases before the drug trial - in which the patients took part - was complete. Doctors said their progress had exceeded all expectations. The men were treated at the Mayo Clinic in Minnesota in the US, one of the top medical centres in the world.
[08:28] {_levelseven} "recover".
[08:29] {_levelseven} does that mean cured?
[08:29] {Threei} shrug
[08:33] {Threei} trades like it's a biggie
[08:33] {_levelseven} yea
[08:33] {_levelseven} i scalped for .20 but dont trut it
[08:34] {_levelseven} trust
[08:34] {Threei} yeah, too much air under it
[08:34] {_levelseven} 2 patients and havent gone trough full clinicals
[08:34] {Threei} when profit tsaking hits, look out
[08:34] {_levelseven} big shareholders will be dummping
[08:34] {_levelseven} oops
[08:55] {fernp} good morning
[08:55] {cosmo} mrvl sees better times ahead fwiw
[08:56] {Threei} fern :)
[08:58] {nemo} good morning
[08:59] {Threei} nemo :)
[08:59] {nemo} whaddi miss?
[08:59] {nemo} By the way, I hate comcast
[09:03] {ese} good morning
[09:03] {Threei} ese :)
[09:03] {nemo} Raven, how was your visit with the brethren?
[09:05] {ese} would that be MEDX vad?
[09:06] {Threei} would be what?
[09:07] {ese} medarex co.
[09:07] {ese} was just reading your prior posts
[09:08] {Threei} oh... yes,
[09:08] {Threei} [08:22] {Threei} MEDX pop
[09:08] {ese} tks
[09:08] {KSystems} morning
[09:08] {Threei} KS :)
[09:08] {ese} ks
[09:10] {Raven} nemo ... twas good ... lotta land ... no people
[09:10] {nemo} That "no people" part really appeals to me
[09:11] {Threei} Raven, welcome back :)
[09:11] {cosmo} R.....did you take a gieger counter?
[09:11] {Raven} 3i :)
[09:12] {cosmo} geiger
[09:12] {nemo} oh yeah, lotta' old silos up that way
[09:12] {Raven} I took my rubber boots ...
[09:12] {cosmo} hmm
[09:12] {cosmo} level A
[09:12] {Raven} yup
[09:12] {cosmo} your choice
[09:13] {Raven} highways empty
[09:13] {cosmo} i saw that movie...
[09:13] {Raven} lotta flooded rivers ...
[09:14] {Raven} flooded rivers here too now
[09:17] {cosmo} i blame algore
[09:17] {_levelseven} medx down .50 from hi
[09:20] {Raven} no floods for you then, cosmo
[09:20] {Raven} just the baking sun
[09:20] {cosmo} sigh... i know
[09:23] {dino} gm all
[09:23] {cosmo} mrvl tests
[09:23] {dino} medx?
[09:23] {Threei} dino :)
[09:24] {nemo} dino...alarm clock worked this morning?
[09:24] {Threei} [08:27] {Alert} Threei Medarex Patients with inoperable prostate disease recover after single dose of drug - The Independent
[09:24] {Threei} [08:27] {Alert} Threei - The results were so startling that researchers decided to release details of the two cases before the drug trial - in which the patients took part - was complete. Doctors said their progress had exceeded all expectations. The men were treated at the Mayo Clinic in Minnesota in the US, one of the top medical centres in the world.
[09:26] {dino} yeah, up at 6:30 everyday, 2 mile walk, bank, bunch of emails, r.e. driveby and here i am
[09:26] {dino} half a day already
[09:27] {nemo} yeah, know what you mean..I'm lucky to sleep past 5
[09:31] {dino} 8461 low last week
[09:32] {Threei} WFC dive to or just under .70 will be interesting for long entry
[09:32] {dino} 1439, and 903
[09:33] {Threei} if holding above .80, .90 break is trigger
[09:33] {_levelseven} medx drilled
[09:33] {Threei} 50/50
[09:33] {Threei} MEDX needs more selling
[09:33] {_levelseven} huge float
[09:33] {dino} why's it up?
[09:34] {Threei} I posted news for you dino
[09:34] {Threei} 9:24
[09:34] {nemo} prostate miracle on "two" inoperable patients
[09:35] {dino} opps
[09:35] {Threei} WFC holding well
[09:36] {Threei} 1:1
[09:36] {Threei} half out or scalp
[09:37] {Threei} 1:2, 1/4 more
[09:37] {Threei} 1:3
[09:37] {ese} .20 range medx gonna try long .80
[09:37] {Threei} sharp jump, out in full
[09:37] {Threei} got .15 on exit
[09:37] {Threei} +.24 overall on last portion
[09:37] {dino} wynn gap fill
[09:38] {jfjf64} mornin
[09:38] {ese} L medx
[09:38] {Threei} jf :)
[09:38] {ese} .81
[09:38] {Threei} yeah, MEDX digested the range
[09:38] {ese} out
[09:38] {Threei} look for re-entry on pullback
[09:38] {ese} .89 +.08
[09:39] {Threei} it looks capable of more
[09:39] {nemo} how many little buggers ese?
[09:39] {ese} 3k
[09:39] {Threei} closest support is .65
[09:39] {ese} yes
[09:41] {_levelseven} tstr still going..geez
[09:42] {ese} lookin to go long again at .93 nemo
[09:42] {nemo} spy and qs dropping
[09:42] {ese} if we get higher low here on 1min ch
[09:42] {dino} rimm more pain
[09:43] {nemo} tck held double bottom
[09:43] {ese} intc not following qqqq's could be an up day by the end of it
[09:43] {Threei} poor MTXX
[09:44] {jfjf64} yup
[09:45] {_levelseven} said Fri tstr wanted $2
[09:45] {dino} neog nice spread, lol
[09:46] {jfjf64} medx anythin ther yet vad
[09:46] {Threei} .90 break worth a try, just keep in mind this is very risky one
[09:47] {_levelseven} any tstr news?
[09:47] {jfjf64} i lk risk on monday
[09:47] {Threei} pulled back too far
[09:47] {jfjf64} hmmm
[09:48] {jfjf64} yes
[09:48] {ese} am gonna try .93 medx vad
[09:48] {ese} nope invalid now
[09:48] {Threei} nah ese
[09:49] {ese} is that nah invalid or bah .93
[09:49] {jfjf64} ya hold medx ese ill hit it with 9 iron
[09:49] {Threei} nah to breakout
[09:50] {ese} looks like it'll need a 7 iron now jf
[09:50] {dino} lol
[09:50] {jfjf64} lol
[09:51] {ese} intc against the crowd......
[09:51] {Threei} Long Setup: RMBS .65 break
[09:52] {ese} high 4 days ago waitin on that...plan on going swing long
[09:52] {nemo} in
[09:53] {nemo} uner .55 for stop?
[09:53] {Threei} for scalp yes, for a day trade under .50
[09:55] {dino} getting bloody
[09:55] {nemo} intc dropping
[09:56] {dino} next gaps down, 8016, 1435, 855
[09:58] {ese} have the same feeling as last monday......does not feel like a down day even though at this point we are.......
[09:59] {_levelseven} tstr wont stop, might be something driving this run..isnt this day 3 or 4?
[09:59] {ese} lots of time nemo....lots of time
[09:59] {ese} was there news last week L7
[10:00] {ese} that sure is a nice move there
[10:00] {Threei} nope... whole move is done on no news
[10:00] {ese} tstr that is
[10:00] {_levelseven} tstr should be tired out by now..something else happening here imo
[10:01] {ese} hmmmmmmm then that looks the the Vancouver stock exchange.....speculation
[10:02] {nemo} stopped
[10:02] {Threei} WFC becomes interesting again
[10:02] {_levelseven} tstr dip buying
[10:03] {Threei} CDE US Supreme Court rules in favor of company with regards to gold mine permit in Alaska (10.19, -0.61, -5.65%)
[10:04] {jfjf64} wfc
[10:06] {Threei} .53 long if holding .45
[10:07] {nemo} in
[10:08] {KSystems} i am selling ADRE here for a longer term swing
[10:09] {Threei} Long Setup: HIG .50 break if holding above .40
[10:10] {nemo} in
[10:11] {nemo} stopp wf
[10:11] {_levelseven} in tstr 06
[10:17] {jfjf64} steady vol hig
[10:17] {dino} ru wants gap 35.70 area
[10:18] {dino} tutr
[10:18] {Threei} it's holding well, just needs market to raise its head finally
[10:18] {dino} dltr, fdo, wmt positive
[10:18] {dino} tutr nuts
[10:19] {Threei} no news that I see
[10:20] {Threei} grrr
[10:20] {Threei} market not finding support
[10:20] {nemo} skf
[10:21] {nemo} oops
[10:22] {Threei} ok, what was that on TUTR??
[10:23] {_levelseven} wow
[10:23] {KSystems} ATAI :)
[10:25] {Threei} MEDX Hearing RBC making cautious comments (timing uncertain) (8.30, 0.94, 12.77%)
[10:26] {Threei} ATAI Trading up 35%; no fresh positive news seen
[10:26] {Threei} - TUTR, another maker of education software, is also moving higher with ATAI
[10:30] {Threei} ATAI is still ticking
[10:36] {dino} 1435 ndx filled
[10:36] {vinod} Good Morning
[10:36] {Threei} vinod :)
[10:43] {dino} watching pru, dltr, wynn, bby, snda, met fwiw
[10:43] {Threei} Long Setup: CAST .30 if holding above .20
[10:44] {ese} well it started out a promising day......just nothing happening on my scans
[10:44] {dino} qcom too
[10:45] {ese} whoa what was that litle dive to .09 in CAST
[10:55] {dino} sm l; snda .00
[10:57] {ese} indexes working in your favor dino
[10:58] {Threei} CAST invalidated
[10:59] {nemo} understatement
[10:59] {Threei} lol
[10:59] {dino} so far
[10:59] {nemo} this is not a "long" day
[10:59] {nemo} so far
[10:59] {Threei} extra-invalidated?
[10:59] {nemo} CSNY
[10:59] {nemo} INVALIDATED
[10:59] {vinod} looks little scary this morning?
[10:59] {nemo} vaseline morning
[11:00] {dino} s/p 900 line in sand imo
[11:00] {vinod} short SPY? dino
[11:01] {nemo} tck strengthening fcx weakening...interesting
[11:01] {dino} no, will use it as guide on others
[11:01] {nemo} Cast xtra xtra invalidated
[11:02] {ese} like hair shampoo......extra normal
[11:02] {dino} world bank saying china stockpiling of commodities to slow, fcx
[11:02] {nemo} yes, but tck should be going down too, maybe fcx bigger exposure to australia
[11:03] {Threei} NY Fed: Purchased $7.49B in $300B outright coupons purchase;
[11:03] {dino} just fyi nemo
[11:03] {Threei} Dealers submitted $20.7B for consideration (bid to cover 2.76)
[11:03] {Threei} - Heaviest purchase was $4.28B for the 08/15/15 maturity
[11:03] {dino} posted on real$
[11:04] {nemo} hey ese, that spike down on cast doesn't look so big anymore lol
[11:05] {Threei} lol
[11:05] {ese} i'll say
[11:06] {ese} odd market........
[11:07] {dino} snda stopped -.40
[11:10] {jfjf64} medx
[11:10] {ese} whats with drys
[11:10] {Threei} no news
[11:11] {ese} ya.......seems like someone is driving it down to buy cheap shs.......scare the crap out of someone...get there shs
[11:12] {_levelseven} thats what brokers tell their clients when long positions go south
[11:12] {ese} hmmmmmm
[11:13] {dino} qcom sm l .50
[11:13] {dino} lol l7; that or double up
[11:22] {dino} ueic drop
[11:30] {Threei} PIMCO's McCulley: The size of the monetary base is not directly connected to inflation; Fed paying interest on reserves is a valuable tool; PIMCO is "dramatically underweight" USTs - TV interview
[11:30] {Threei} Given the amount of slack in the economy, its hard to see inflation as a big problem right now.
[11:30] {Threei} - Mortgages are backing up because Treasuries are backing up, expects this to impact the recovery by weakening the prospects for housing improvements. The upshot is that the Fed will be on hold longer.
[11:30] {Threei} - Believes that market would "self correct" if mortgage rates rose further.
[11:30] {Threei} - suggests the FOMC statement this week could modify the statement on holding rates at an "exceptionally low level for an extended period," to be contigent upon the economic forecast.
[11:38] {Threei} I am long YAWN
[11:38] {nemo} they make mattresses?
[11:38] {nemo} matresses?
[11:39] {nemo} ?
[11:39] {ese} is that a legit stock
[11:39] {ese} yawn
[11:39] {nemo} duh?
[11:39] {nemo} yeah, it's trading at 0.00...just checked
[11:40] {ese} no it's trading 15.83
[11:40] {Threei} White House: US President Obama to conduct press conference on Tuesday at 12:30pmET
[11:40] {Threei} oh good
[11:40] {nemo} dbi setup on rimm on the 5 min.
[11:45] {Threei} GE CEO: Opposed to separation of banking and commerce - CNBC (11.61, -0.49, -4.05%)
[11:45] {nemo} I wonder why
[11:45] {Threei} heh
[11:46] {Threei} there was an article last week about GE being hit hard by new regulations
[11:46] {nemo} yeah, because of GE finance
[11:46] {Threei} right
[11:47] {dino} where they messed up royally
[11:49] {nemo} rimm broke low
[11:50] {dino} feels like 65 magnet
[11:50] {nemo} or 12lb sledge
[11:54] {dino} pru gap fill from wed close
[11:54] {dino} met working towards it
[11:58] {Threei} hmmm... we don't have to wait till tomorroqw to see Prez on TV
[12:02] {_levelseven} hes on tv so much, he should have has own reality tv show
[12:03] {nemo} he does, it's called ABC News
[12:04] {jfjf64} or whats happenin
[12:13] {ese} whats driving the nasdaq down today....opinions?
[12:13] {nemo} it's been topping, also, hangover from options ex
[12:14] {ese} how do mean.....hangover from options day nemo?
[12:14] {ese} new positions are established again arn't they?
[12:15] {dino} met sm l .50
[12:15] {ese} check that......not necessarilly
[12:15] {nemo} options ex tend to be positive days. And the day after tend to be hangovers. I don't understand all the mechanics, the quant trader strategies seem to drive it.
[12:16] {dino} imo, es we've gone straight up about 43%, pullback time, plus are things really that much better or getting better. less worse perhaps, but........
[12:16] {ese} hmmmm ok....i get what your saying
[12:16] {nemo} there's that also
[12:21] {vinod} nemo-what happen to your friend grasshopper?
[12:21] {nemo} maybe the pesticides?
[12:21] {nemo} praying mantis?
[12:22] {nemo} Raven?
[12:22] {vinod} really?
[12:22] {nemo} see the question marks, Vino?
[12:23] {vinod} I beter keep quite
[12:24] {vinod} actually it is YAWN. one I brought based on Boss's call
[12:28] {vinod} Is there a chance to squeeze 10 cent from FAZ/EEV/SRS?
[12:30] {Threei} FAZ looks better for that
[12:30] {Threei} we need market breakdown to get next leg up on FAZ
[12:30] {vinod} in faz 5.19
[12:40] {Threei} what can I say vinod... 2 cents in 10 minutes - with this speed you'll make serious money sometime this millenium
[12:42] {vinod} I was getting restless today. it is going to work out and i will have my 10 cent only 2k
[12:43] {vinod} my stop is very tight
[12:47] {Threei} Long Setup: QID .48
[12:53] {Threei} held .40 on this pullback, so let's make it invalidating level
[12:53] {Threei} and support for stop placement if triggers
[12:53] {Threei} 4 cents vinod
[12:53] {Threei} life accelerates
[12:54] {dino} cedc blood
[13:02] {Threei} QID invalidated
[13:06] {dino} -3% ndx today
[13:06] {Threei} and the day is far from over
[13:07] {dino} it's a good day to die
[13:07] {nemo} samurai
[13:07] {Threei} first day of summer?
[13:08] {dino} worf, star trek... "and the day's not over yet"
[13:09] {nemo} what the samurai said every morning when they awoke
[13:12] {Threei} FAZ is making someone richer by the... ummm... hour?
[13:17] {Threei} JD Power quality survey shows Ford and Chevy narrow gap of initial quality with Toyota
[13:17] {Threei} - domestic vehicle quality scores up by more than 10% y/y.
[13:17] {Threei} - Chysler still needs to make substantial progress on quality.
[13:21] {fernp} have to go. good evening all.
[13:21] {Threei} take care fern
[13:25] {Threei} FAZ is coming to those 10 cents
[13:27] {Threei} 1:1 reached
[13:27] {Threei} congratulations vinod
[13:37] {vinod} thanks, I was out but it got sold
[13:37] {Threei} cool beans
[13:45] {Threei} (JP) US and Japan are to sign a 'fast track' customs clearance agreement - Nikkei news (related USD/JPY EUR/JPY JGB )
[13:53] {Threei} if this is ot a thing of beauty:
[13:53] {Threei} [13:38] * KSystems was kicked by ChanServ
[13:54] {Threei} it like my own house would kick me out
[13:55] {nemo} like when the wife tells you she wants a divorce and puts a restraining order on you
[14:03] {Threei} Mortgage Banker's Association(MBA) forecasts 2009 originations at $2.0T v $2.7T prior
[14:03] {Threei} - Cites lower rate/term refinancings and lower volumes
[14:05] {Threei} you guys wiill be very surprised I bet,
[14:05] {Threei} but you know who is coming live on TV?
[14:09] {dino} not again
[14:10] {Threei} "Children are agressively targeted by tobacco companies"
[14:10] {Threei} is it a proven fact?
[14:10] {Threei} quite a strong accusation to throw by a president
[14:18] {Threei} VVUS Ticking higher after positive mention by CNBC guest (5.47, -0.22, -3.87%)
[14:25] {nemo} stealth rally
[14:26] {Threei} rally?
[14:26] {nemo} spy qqs slowly climbing
[14:26] {Threei} are we that undemanding these days that we call this crap rally? :)
[14:26] {nemo} watching fcx rimm move up
[14:26] {nemo} summer
[14:26] {nemo} I did say stealth
[14:27] {nemo} only one syllable
[14:28] {nemo} think about it, big news over the last few hours was Vinod's .10 on Faz :)
[14:28] {dino} hum dee dum
[14:28] {Threei} lol
[14:28] {Threei} well
[14:28] {Threei} I'll take that if nothing else comes around
[14:29] {nemo} my sentiments eqkzaktly
[14:30] {_levelseven} frpt
[14:30] {nemo} how'd the scanners miss the jbe?
[14:31] {dino} dji ; ndx; s/p -6% since the 11th, 7 trade days,
[14:32] {Threei} why miss?
[14:32] {Threei} JBER window signalled FRPT a few times
[14:32] {_levelseven} jber?
[14:32] {Threei} JBE
[14:32] {nemo} frpt
[14:33] {nemo} has a nice jbe formation...I'm just bored...slap me
[14:33] {Threei} at 7.95,
[14:33] {Threei} earlier at 12:39
[14:33] {nemo} 7.85
[14:33] {_levelseven} oh, was called here @ 7.95?
[14:33] {_levelseven} ok
[14:33] {Threei} no, we are talking about scanner catching it
[14:34] {nemo} ya' haven't slapped me yet, how many times I gotta' ask?
[14:34] {_levelseven} getting some action
[14:36] {vinod} I think we close down 250 point. let see
[14:37] {_levelseven} frpt movin
[14:38] {Threei} and no news
[14:38] {Threei} DNDN IN pact to build new production facility - filing dated 6/16 (24.95, -1.13, -4.33%)
[14:38] {nemo} it's not back to it's highs from last week though
[14:41] {Threei} Mondays bored the heck out of us even in more exciting seasons
[14:41] {Threei} let alone summer
[14:45] {dino} zzzzzzzzzzzzz
[14:55] {nemo} is the paint dry yet?
[14:55] {Threei} yes but grass still hasn't grown
[14:56] {wulff} you guys make any good trades today? Late I am
[14:56] {Threei} 2:3
[14:57] {Threei} 2 good and 3, umm. also good but losing
[14:57] {wulff} things look awfully cheap to me
[14:58] {Threei} well.. they usually look cheap just before becoming cheaper yet
[14:58] {wulff} true
[14:58] {Threei} just ask MTXX buyers
[14:59] {wulff} sometimes merchandise goes on sale quickly
[15:00] {Threei} and then gets discontinued {G}
[15:03] {ese} I'm back to say so long for the day.......still working onend of the years school stuff.....cya tomorow
[15:04] {Threei} take care ese
[15:05] {dino} penx
[15:08] {Threei} SEC's Shapiro: CFTC will oversee FX, interest rate and energy swaps; SEC will be responsible for securities-based swaps and some non-bank swap dealers
[15:08] {Threei} - SEC may tighten reporting rules for securities-based swaps.
[15:08] {Threei} - Believes the lack of regulation...more... (related XLF )
[15:08] {Threei} - Believes the lack of regulation of OTC derivates prevented the SEC from protecting investors.
[15:08] {Threei} - May make equity-based derivatives subject to ownership reporting requirements.
[15:08] {Threei} - Believes SEC should regulate markets and clearing organizations to ensure fair access.
[15:09] {nemo} I just fell off my chair
[15:12] {Threei} you though SEC will regulate interest rates instead of Fed?
[15:13] {nemo} no
[15:13] {nemo} " Believes SEC should regulate markets and clearing organizations to ensure fair access."
[15:13] {nemo} fair access...perish the thought
[15:17] {Threei} a few times today I reloaded the server thinking that maybe my quotes stalled
[15:18] {nemo} There...just finished waxing the canoe
[15:19] {nemo} mmmmmhhhh...utilities up today...$ getting stronger?
[15:20] {dino} stronger dollar not good for stocks
[15:20] {nemo} but good for utilities, tbill yields fall, money goes to utilities
[15:20] {dino} agree
[15:21] {nemo} look at the heat map on only strong sector today
[15:28] {wulff} just made $25. YEAH!
[15:28] {nemo} frickin' canus lupus
[15:29] {Threei} how??
[15:29] {Threei} I want $25 too!
[15:29] {nemo} ebay
[15:29] {wulff} a very small long on AAPL
[15:31] {Threei} NYSE volume 875M shares, about 14% below its three-month average; decliners lead advancers by 9.4:1.
[15:31] {Threei} - NASDAQ volume 1.89B shares, about 2% below its three-month average; decliners lead advancers by 5.7:1.
[15:33] {Threei} White House; Expecting unemployment rate at 10% within next few months
[15:44] {nemo} anti rally!
[15:50] {vinod} have a nice evening see you tomorrow
[15:52] {dino} cya vin
[15:55] {Threei} take care vinid
[15:55] {Threei} okay guys, torture is over
[15:55] {nemo} what quote server vad...:)
[15:55] {Threei} lol
[15:55] {Threei} let's have a good evening, and see what tomorrow brings
[15:55] {dino} turnaround tuesday
[15:56] {nemo} Knew that was coming
[15:56] {dino} out qcom .60, +.10
[15:57] {nemo} what about met?
[15:58] {_levelseven} clwr finishing strong
[15:58] {dino} still holding
[15:59] {nemo} brave
[15:59] {dino} or stupid
[16:00] {nemo} I wasn't going there, but it's a hindsight kinda' thing
[16:00] {dino} time will tell
[16:00] {dino} it's small
[16:01] {dino} wmt, t, fdo, dltr, bwld, pnra strong considering
[16:01] {dino} vz too
[16:02] {dino} rmbs drop
[16:02] {dino} calling it a day, thx all