Wednesday, August 5, 2009

Aug 05 2009

Nice and steady day, with profitable trades on BAC, LLTC, RIMM, AIG and stops on NVAX and HEV. Some nice momentum plays occur in financials.

Session Time: Wed Aug 05 00:00:01 2009

[08:26] {dptl} good morning all
[08:38] {Threei} Good morning
[08:39] {dptl} :)
[08:40] {dptl} dptl -} sleepless in vancouver
[08:41] {Threei} lol
[08:41] {dptl} :)
[08:43] {magoo} morn
[08:43] {Threei} magoo :)
[08:45] {magoo} whatcha lookin at?
[08:45] {Threei} finnies are green
[08:45] {Threei} BAC... WFC...
[08:46] {magoo} yea..they closed strong
[08:46] {magoo} hows monestasry :)?
[08:47] {Threei} won't tell... you'll all follow me and crowd the premises
[08:47] {Threei} anyone tried GETCO route?
[08:47] {magoo} it supposed to be better?
[08:49] {Threei} it's free
[08:49] {Threei} no ECN fee
[08:50] {dptl} does it hit everything?
[08:50] {Threei} I don't know
[08:50] {Threei} did you see a n opening inforblurb?
[08:51] {Threei} they cite fill rate
[08:51] {dptl} yes
[08:51] {magoo} did GGC report this morn? can u check?
[08:51] {Threei} Yesterday 18:31 GGC Reports Q2 -$2.13 v -$11.25e, R$524M v $550Me
[08:51] {Threei}
[08:53] {JohnK} gm folks
[08:54] {larisa} good morning :)
[08:56] {dptl}
[08:56] {Threei} john, larisa :)
[08:58] {larisa} vad, dp :)
[08:59] {dptl} lots of talks about flash trading this morning on the news
[09:00] {Threei} someone does great job throwing distractions in
[09:02] {fernp} good morning everybody
[09:02] {Threei} fern :)
[09:04] {ese} gooooooooooood morning!
[09:04] {Threei} ese :)
[09:05] {ese} anything new and exciting......ladies and germs
[09:06] {Threei} new day
[09:07] {ese} thas exciting for sure
[09:07] {Threei} FITB tries to trade over yeasterday's high
[09:07] {ese} suppose to get some rain today here on the island
[09:08] {JohnK} where are you ese?
[09:09] {ese} victoria , British Columbia Canada
[09:09] {ese} et vous?
[09:10] {JohnK} je suis at New Jersey, USA :-)
[09:12] {ese} ahhhhh.....Lou Solof.....the trumpet player from the Blood Sweat and Tears band lives there.......he's a very close friend of my university professor mentor
[09:12] {nemo} What gooees up....
[09:13] {ese} must come down.....spinin wheel gotta ta go round.....what a great tune
[09:19] {ese} grmn....+5.73.......hmmmmmm....lots of people lost i quess
[09:19] {jfjf64} mornin all
[09:19] {Threei} jf :)
[09:20] {jfjf64} lets go 3-0 out of box
[09:20] {Threei} Garmin Ltd Reports Q2 $0.83 v $0.51e, R $669M v $657.1Me
[09:20] {Threei} - Q2 gross margin 52.6% v 44.9% q/q
[09:20] {Threei} - Q2 North America revenue $436M v $265M q/q
[09:20] {Threei} - Q2 Europe revenue $198M v $144M q/q
[09:20] {Threei} - Q2 Asia revenue $35M v $28M q/q
[09:28] {nemo} ese...saw BST in a little club in Bavaria in 1984
[09:28] {nemo} or was it David Clayton Thomas...oops...too many beers
[09:28] {Threei} BAC looks to be a candidate for the first play
[09:29] {magoo} watch wfc too
[09:31] {cosmo} ACAS
[09:31] {cosmo} gonna test
[09:31] {cosmo} wants 3
[09:32] {Threei} Long Setup: BAC 16 break if holding 15.90
[09:32] {Threei} (US) Treasury's Barr: Sense of free fall in economic indicators has ended
[09:32] {Threei} - Should not provide a gov approved model for rating agencys
[09:32] {Threei} - Oversight of credit ratings agencies need to be done on evolving basis
[09:33] {Threei} SOLR Hearing upgraded to Hold from Reduce rating at Boutique firm
[09:34] {Threei} Long Setup: BAC 15.90 break if holding 15.85
[09:34] {ese} bstop yhoo .78
[09:35] {ese} in
[09:35] {nemo} in
[09:35] {patel} in
[09:35] {jfjf64} in
[09:36] {Threei} over 1:1 for scalpers
[09:36] {fernp} ty vad
[09:36] {Threei} :)
[09:36] {nemo} out ty
[09:36] {JohnK} good trade BAC thx T
[09:37] {BillyD} ty Vad
[09:37] {Threei} welcome guys
[09:37] {Threei} guess who is on TV
[09:37] {magoo} look whos on tv
[09:37] {nemo} clinton
[09:37] {Threei} you wish
[09:37] {nemo} he just got bak from PRNK
[09:37] {Threei} BAC 1: my math abilities are not enough
[09:38] {jfjf64} tty
[09:38] {wulff} +.30
[09:38] {nemo} 1:5
[09:38] {jfjf64} x l .20
[09:38] {magoo} i missed it froze
[09:38] {patel} n ice call on BAC
[09:38] {patel} still holding on to 100 shares
[09:38] {nemo} you could miss the week after yesterday mags
[09:39] {nemo} you get the duct tape for Dino's system?
[09:39] {jfjf64} all out x
[09:39] {jfjf64} +8 cents
[09:39] {ese} out yhoo .84 +.06
[09:40] {Threei} watching WFC for pullback entry
[09:40] {Threei} just under 27 would be nice
[09:41] {cosmo} FWLT hod = 27 far
[09:42] {Threei} Long Setup: LLTC .50 break if stays above .40
[09:43] {ese} L HBAN .62
[09:43] {fernp} in
[09:44] {patel} in
[09:44] {nemo} missed
[09:44] {Threei} VNDA??
[09:44] {jfjf64} .65 break break ese im takin ese
[09:44] {Threei} 1:1 LLTC
[09:45] {fernp} ty vad
[09:45] {Threei} welcome
[09:46] {JohnK} LLTC :) too thx again T
[09:47] {patel} 2 for 2 baby
[09:47] {patel} thats what i'm talking about
[09:47] {patel} great calls this morning
[09:47] {jfjf64} nice one more vad
[09:48] {nemo} one?
[09:48] {Threei} [09:20] {jfjf64} lets go 3-0 out of box
[09:48] {BillyD} mkt sell off
[09:48] {jfjf64} ty vad
[09:48] {jfjf64} nemo sleepin
[09:48] {ese} out HBAN .67 +.05
[09:49] {wulff} WFC pullback
[09:49] {nemo} sorry, up all night
[09:50] {Threei} Long Setup: NVAX 5.40 if holding above .30
[09:50] {wulff} so much for lltc
[09:51] {nemo} in
[09:51] {cosmo} FWLT hod = 27.55 far
[09:52] {ese} I want HBAN again ....just am deciding where
[09:52] {jfjf64} ese
[09:52] {Threei} FITB back into yesterday's high
[09:53] {jfjf64} in .68
[09:53] {jfjf64} need push
[09:53] {ese} would prefer a deeper pullback but if not will take .65 break this time
[09:54] {ese} hmmmmmmm might rethink index now down
[09:56] {ese} anybody in NVAX.....thats on my radar
[09:57] {nemo} yes
[09:57] {Threei} stopped
[09:57] {nemo} just got stopped
[09:57] {Threei} sorry jf... 2 out of 3
[09:57] {wulff} had high hopes for NVAX
[09:57] {BillyD} NVAX true to form
[09:57] {Threei} market dropped pulled it
[09:58] {jfjf64} wfmi .56 break
[09:58] {BillyD} good risk reward
[09:58] {jfjf64} in
[09:59] {jfjf64} 1/1
[09:59] {jfjf64} half out
[10:00] {Threei} JUNE FACTORY ORDERS: 0.4% V -0.8%E
[10:00] {ese} l mee .48
[10:01] {jfjf64} out
[10:02] {ese} out mee .20 grrrrrrrrrr=.28
[10:02] {ese} -.28
[10:02] {jfjf64} stoped hban
[10:03] {nemo} nice drop amzn
[10:03] {jfjf64} rdn .40 breal
[10:03] {BillyD} RDN is starting a CC right now JF
[10:04] {nemo} a cc?
[10:04] {BillyD} conference call
[10:04] {nemo} oh
[10:04] {BillyD} after eps
[10:04] {jfjf64} in .43
[10:06] {jfjf64} out 3 cents no lk cc
[10:13] {Threei} Long Setup: RIMM .60 if stays above .45
[10:14] {jfjf64} in .65
[10:14] {magoo} in .58
[10:14] {jfjf64} slippy
[10:14] {JohnK} too fast for me
[10:15] {Threei} 1:1
[10:15] {jfjf64} go go go go
[10:17] {jfjf64} great vol
[10:18] {jfjf64} all out
[10:18] {jfjf64} ty vad
[10:19] {tomg} ty vad
[10:19] {Threei} welcome guys
[10:24] {ese} L hban.50
[10:26] {magoo} u reading GRMN boss?
[10:26] {Threei} 33 break is obvious setup
[10:26] {Threei} volatile...
[10:26] {jfjf64} wfmi break of 30.00
[10:26] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET
[10:26] {Threei} **consensus expectations:
[10:26] {Threei} Crude: +800Ke
[10:26] {Threei} Gasoline: -1Me
[10:26] {Threei} Distillate: +1.2Me
[10:27] {jfjf64} in .03
[10:28] {jfjf64} gets passed .13 gettin paid
[10:28] {magoo} AXL moves
[10:29] {Threei} AXL CFO: Lowering break even levels to 6K axles per day; on track to accomplish goal by end of 2009 - conf call
[10:29] {Threei} - believe 1H 2009 will be the low point in production volumes.
[10:29] {nemo} looks like oil numbers might be bullish
[10:29] {Threei} 8 ball?
[10:30] {nemo} nevermind erx dropped must be bearish
[10:30] {jfjf64} vad
[10:30] {Threei} DOE CRUDE: +1.67M V +800KE
[10:30] {nemo} really dropped
[10:30] {jfjf64} 8 ball
[10:30] {Threei} GASOLINE: -220K V -1ME; DISTILLATE: +1.1M V +1.2ME; CAPACITY UTILIZATION: 84.5% V 84.4%E.
[10:31] {nemo} aig in a good mood today
[10:32] {Threei} yeah
[10:32] {Threei} 14 break in retrospect was no brainer
[10:32] {Threei} didn't watch it at the time
[10:33] {nemo} only got 3i's
[10:33] {jfjf64} need 4i
[10:34] {Threei} AXL some enthusiasm...
[10:36] {jfjf64} this wfmi drivin me crazy hv stop at .85
[10:37] {jfjf64} showin strong
[10:39] {Threei} a lot of talk about 2B investment in car batteries development
[10:40] {Threei} I have ABAT on top of my memory
[10:40] {Threei} anything else?
[10:40] {BillyD} can't remeber
[10:41] {BillyD} can't spell either
[10:41] {Threei} welkome to ze klub
[10:42] {jfjf64} jpm vad ya lk 41 break or traap
[10:42] {Threei} with stop under .90, it's a valid try
[10:43] {jfjf64} too fast pass
[10:44] {Threei} 1:1
[10:44] {Threei} the way to enter this kind, when it's a bit too fast on a break, you don't want to chase and don't want to get filled on the way back when it's exhausted
[10:44] {jfjf64} reads there fingers too slow
[10:44] {Threei} enter limit at the price you are willing to chase to,
[10:45] {Threei} let's say 41.03
[10:45] {ese} are you in jpm jf?
[10:45] {jfjf64} nope
[10:45] {Threei} if it gets you in, fine, play it from normal risk reward ratio point of view,
[10:45] {Threei} if miss, keep an order in for a fill on pause BUT
[10:45] {ese} that was a good call
[10:45] {Threei} cancel it if a stock reaches 1:1
[10:46] {jfjf64} makes sence even with 2500 to 3000 shares
[10:46] {jfjf64} ??
[10:46] {Threei} you may still want it if it pauses and pulls back slightly from let's say 41.05 - 06
[10:46] {Threei} but if it reaches 1:1 and drops all the way back into trigger, it's a different ballgame,
[10:47] {Threei} you now need to re-evaluate whether a play still valid as conservative entry
[10:47] {Threei} or it was just a scalp and it's ovewr
[10:47] {Threei} as a first idea what to look for:
[10:47] {ese} yes
[10:47] {Threei} if it drops back into 41, stalls,
[10:47] {ese} quick in and out
[10:48] {Threei} makes little move up and down between 41 and 41.05
[10:48] {Threei} you may want a new entry on .05 break,
[10:48] {Threei} but the huge difference with original idea will be:
[10:48] {Threei} your stop now is under 41, not under 40.90 as it would be with original entry
[10:48] {Threei} see what I mean by saying it's a new game?
[10:49] {jfjf64} thanks i follow
[10:50] {patel} Threei, thoughts on T
[10:50] {Threei} I'll try hood, fake mostauge and dark sunglasses tomorrow... will see how successful you are then
[10:50] {jfjf64} lol
[10:51] {Threei} T... I don't see anything but short at .70
[10:51] {Threei} if stays under .80
[10:51] {patel} yes i like it short below 70
[10:51] {patel} 10 cents risk
[10:51] {patel} are you seeing that
[10:51] {jfjf64} double bottom lower vad or bounce market
[10:51] {Threei} that's what I said patel :)
[10:51] {Threei} rather breakdown and further down jf...
[10:52] {patel} lol
[10:52] {Threei} ahha
[10:52] {Threei} newswire heard me and answered:
[10:52] {Threei} (US) US Administration: To give out approx $2.4B to US automakers to develop advanced auto/vehicle batteries (related ABAT JCI ALTI HEV F GM F.IT F )
[10:53] {jfjf64} aig
[10:53] {BillyD} ALTI was the one I couldn't remember
[10:53] {Threei} yeah but looks like total POS
[10:53] {jfjf64} pos
[10:53] {BillyD} I remembered that part from past
[10:53] {Threei} US) Treasury Dept: Need to act in a way that clearly shows the market that Govt is set on serious financial reforms
[10:54] {Threei} this statement is wrong in so many ways, I don't even know where to begin
[10:54] {Threei} need to act in a way to show something?
[10:54] {Threei} if you ARE serious about it, why not just proceed and do it?
[10:54] {Threei} or,
[10:54] {jfjf64} looks breakout comin
[10:55] {Threei} you guys see yourself as entity that must teach market about something?
[10:55] {Threei} or resist it?
[10:55] {Threei} or fight it?
[10:56] {Threei} this is so indicative of their very way of thinking... "we need to show the market that we are serious about controlling it"...
[10:56] {Threei} {--- back to monastery
[10:56] {jfjf64} show me da money cd give 2 s t
[10:57] {jfjf64} fas c/h .10 break
[10:58] {ese} L jpm .06
[10:59] {patel} Threei, BK break of 29 with a 10 cents risk???
[10:59] {jfjf64} in .13 on pbk vad
[10:59] {patel} or would it be chasing it here
[10:59] {jfjf64} 1/1 fas
[10:59] {Threei} hard to tell BK
[10:59] {Threei} it's kind of 50/50 but risk is small
[11:00] {jfjf64} out
[11:01] {jfjf64} later guys gotta run
[11:01] {magoo} grtmn dump
[11:01] {Threei} take care jf
[11:02] {jfjf64} to da bank boys lol
[11:02] {Threei} CNP Applies for $200M Federal Stimulus Grant to Accelerate Current Smart Meter Project and Begin Building Self-Healing Grid
[11:02] {Threei} - If granted, CenterPoint Energy Houston Electric will use $150M of the requested $200M grant to accelerate its current smart meter and associated equipment installation that make up its Advanced Metering System (AMS).
[11:02] {Threei} - The $50M balance will be used to accelerate the installation of the first phase of CenterPoint Energy Houston Electric''s Intelligent Grid (IG) that utilizes the AMS and other technologies to build a self-healing grid, and improve operational efficiency and reliability.
[11:03] {Threei} NY Fed: Purchased $7.25B in $300B outright coupons purchase; Dealers submitted $17.91B for consideration (bid to cover 2.47)
[11:03] {Threei} - Heaviest purchase was $4.1B in the 05/31/14 maturity
[11:09] {magoo} AIG
[11:10] {tomg} CAT
[11:10] {ese} out pjm .23 +.17
[11:10] {ese} takes a bit of a dent out of that mee trade
[11:11] {Threei} AIG is serious
[11:11] {ese} i know he's gone but thanks jf
[11:12] {ese} wow is it ever
[11:12] {nemo} volumes are all around 1.5X average on indexes
[11:15] {BillyD} Vad, WFC got any life over 27?
[11:15] {Threei} most likewly yes
[11:15] {BillyD} is it worth it to you
[11:15] {nemo} R1 @ 27.30
[11:17] {magoo} anyone cattch AIG?
[11:17] {Threei} Goldman Sachs note today states Goldman on Friday raised its US GDP forecast
[11:17] {magoo} so fast, i alerted but had to focus'
[11:18] {Threei} I think so Billy
[11:18] {Threei} want to see market help of course
[11:19] {BillyD} can you believe it...step away for water and miss it lol
[11:19] {Threei} lol
[11:19] {Threei} water... humanity's eternal enemy
[11:20] {Threei} wait... that was beer
[11:20] {Threei} or vodka
[11:20] {BillyD} it breaks w/out mkt help
[11:20] {BillyD} oh well
[11:21] {magoo} jpm working nicely
[11:40] {Threei} watching CNP, trying to get a feel whether it's preparing for a run
[11:41] {magoo} BAC highs
[11:41] {magoo} neatr
[11:41] {magoo} near
[11:51] {magoo} vad u read AIG?
[11:54] {Threei} there is no technicals to it
[11:54] {Threei} momo runner
[11:54] {Threei} either you get a feel for momop continuation or not,
[11:54] {ese} mags are you long jpm?
[11:54] {Threei} and risk is well beyond average tolerance
[11:56] {Threei} guess who is on TV
[11:57] {BillyD} T may be resets for short
[12:01] {magoo} i was off vads call @ .10, out now jpm
[12:01] {magoo} id cut it
[12:01] {magoo} will pullbk
[12:05] {ese} nice one mags where did you get out?
[12:07] {Threei} HEV big pullback
[12:12] {BillyD} AXL
[12:12] {BillyD} what ya think Vad on .50
[12:12] {Threei} AIG... feels like going to 18
[12:12] {ese} L drys .66
[12:14] {Threei} 18 on the nose
[12:14] {magoo} stealking my thunder
[12:15] {Threei} I am good at stealking
[12:15] {nemo} up 33% on no news
[12:15] {Threei} no idea Billy... 3 was more or less legit
[12:15] {BillyD} ty
[12:15] {Threei} 3.50 is way too high for my yaste
[12:15] {Threei} taste
[12:17] {nemo} 20 for aig?
[12:18] {magoo} i hit it 18 to 19.02 AIG
[12:18] {magoo} 2k
[12:19] {magoo} A
[12:19] {magoo} I
[12:19] {magoo} G
[12:20] {ese} nice mags.......trader after my own heart
[12:22] {magoo} i been crushing them lastt 2 days..just feelin the ,momo
[12:22] {magoo} i alert or ask vad, but no way to call it
[12:22] {Threei} yup
[12:22] {Threei} great job nonetheless
[12:22] {magoo} i could kill someone if they dontknow how to "feel" it
[12:22] {BillyD} lol
[12:23] {magoo} im a momo trader
[12:23] {magoo} and ill take sizer
[12:23] {magoo} size
[12:23] {ese} no i like "sizer"
[12:23] {ese} thats lingo man lingo
[12:24] {magoo} what i need to take is typiong lessons
[12:24] {Threei} u may vant to asq me abut me typein teechear
[12:24] {ese} and you have been killin it these last couple of days....good on ya
[12:25] {magoo} i hit thatt GGC for like 8 points yestrday
[12:25] {magoo} short of coutrse
[12:25] {ese} i know....that was amazing
[12:25] {ese} even more amazing........
[12:26] {magoo} but see..i could have went against me 20 points so npo way i could call it for room
[12:26] {magoo} its a widow maker
[12:26] {ese} like russian submarines
[12:26] {ese} they used to call them widow makers
[12:28] {magoo} but..if IF i ask vad or put up a means i am looking at it..and usually going
[12:29] {Threei} and if I say "risky as hell", magoo doubles his share size
[12:29] {magoo} vad, nice call WFC off 27
[12:29] {magoo} just cut it .48
[12:29] {Threei} :)
[12:29] {magoo} well..risk IS our businezz correct
[12:30] {larisa} no:)
[12:30] {ese} i'm still long hban at .50 by the way
[12:30] {larisa} maintaining it is :)
[12:30] {magoo} more risk ..more reward
[12:30] {magoo} with a dash of setup..a smidge of control..and a whole lotta luck
[12:31] {Threei} and prayer
[12:31] {Threei} and chicken entrails
[12:31] {Threei} and the bone from bat's ear
[12:31] {magoo} thats why agree with ese yesterday..i am stressed all time :)
[12:32] {magoo} i functioned in a constant streess environmt
[12:32] {nemo} aig setting up short?
[12:32] {magoo} not avail laser
[12:32] {ese} odd......i'm not feeling stressed as much today as yesterday and i'm down about $800
[12:32] {magoo} u taking vads advice and drinking?
[12:33] {larisa} AIG earnings on Friday, intersting how high it can go
[12:33] {ese} heavily
[12:33] {dptl} yep vodka might help magoo
[12:33] {ese} and dp's advice as well.....smoothe vodka
[12:33] {dptl} he he :)
[12:34] {ese} vads advice was vodka...dp's...make it smooth vodka
[12:34] {Threei} 71% Say Obamas Policies Have Driven Up Deficit
[12:34] {Threei} 54% Favor Middle Class Tax Cuts Over New Health Care Spending
[12:35] {Threei} those are damning numbers
[12:36] {JohnK} look right to me :)
[12:38] {ese} ya and it just damned my profit in habqan
[12:38] {ese} hban
[12:39] {ese} sheesh
[12:41] {ese} how bout uaua
[12:50] {Threei} HEV Hearing Kaufman Bros. making positive comments; Maintains Buy rating, price target $9 (timing uncertain) (7.08, +0.56, 8.59%)
[12:57] {ese} OK technical point.....this is the seventh day of a narrow range 7 for drys......theoretically this thing should just up from here based on that last earnings report.......
[12:57] {ese} jump
[13:00] {Threei} IPXL Receives Final FDA Approval for Generic Depakote Extended-Release 500mg Tablets
[13:00] {Threei} - FDA has granted final approval of the Companys Abbreviated New Drug Application for generic versio... (27.48, +0.98, 3.70%) more...
[13:01] {Threei} AIG Trading up 40% on no apparent news
[13:01] {Threei} - note that AIG is scheduled to report earnings on Friday morning and has already said it will not h... (18.85, +5.33, 39.42%) more...
[13:04] {Threei} believe it or not...
[13:05] {Threei} AIG looks like new consolidation
[13:05] {Threei} for another runup
[13:08] {Threei} UQM Awarded $45.1 Million Grant from the U.S. Department of Energy to Accelerate the Deployment of the Next Generation of Electric Vehicles
[13:11] {Threei} easiest money I've made today
[13:11] {nemo} on what?
[13:11] {Threei} 5.06 - 5.45
[13:12] {nemo} oh
[13:12] {nemo} what stock
[13:12] {larisa} lol
[13:12] {Threei} sigh
[13:12] {larisa} I thought you talking AIG
[13:12] {nemo} me too
[13:12] {Threei} nemo... look at this line by me about money made... then slowly gently lift your line of sight by just 2 lines
[13:13] {nemo} ok
[13:14] {dptl} lol
[13:15] {Threei} AIG, look at the dance it did for 10-15 min just above 17, at roughtly 12:00 - 12:15
[13:15] {Threei} did pretty much the same around 19 when I made that comment
[13:15] {Threei} and exploded from there again
[13:18] {Threei} 20 in sight
[13:19] {Threei} AIG Investor Relations: Not aware of any news to account for today's stock move (32.81, -0.59, -1.77%)
[13:19] {Threei} Notes that outside of the CEO succession and confirming earnings date, has no additional information
[13:23] {magoo} out .91 TY vad on AIG alert
[13:23] {magoo} nice one
[13:24] {BillyD} gj
[13:24] {Threei} :)
06[13:25] * magoo slaps Threei around a bit with a large trout
[13:25] {Threei} :(
[13:25] {magoo} the monastery is working for u
[13:25] {ese} nice one mags
[13:25] {magoo} u kickin butt today vad
[13:27] {Threei} (US) FHFA's Lockhart to reportedly step down soon - unconfirmed report (related FNM FRE )
[13:29] {nemo} aig, this is just incredible
[13:30] {Threei} giant squeeze
[13:31] {nemo} what was the short ratio?
[13:32] {magoo} bak in ittttttttttttt
[13:32] {Threei} not overly high...
[13:32] {Threei} Short Percent of Float 18.81 %
[13:32] {Threei} July info
[13:32] {nemo} no, so how the squeeze
[13:33] {Threei} just mass husteria then
[13:33] {Threei} hysteria
[13:34] {BillyD} overall a good thing for mkt trader confidence
[13:34] {Threei} mags... don't overstay your welcome
[13:34] {BillyD} some momo to return hopefully
[13:34] {Threei} when it's done it won't give much chance for orderly exit
[13:34] {Threei} not to women, not to children, not to elderly
[13:35] {magoo} oh sorry out .42 from .40 +point
[13:36] {Threei} good
[13:36] {Threei} not even speaking of halt possibility
[13:36] {magoo} OH DO NOTEVEN SAY ITTT
[13:42] {ese} vad is that AIG's float your talking about thas short?
[13:42] {magoo} man..can u imagine old school wall street who sold in may and went away vad
[13:43] {Threei} yes ese
[13:43] {Threei} lol mags
[13:43] {ese} that would explain a few things
[13:43] {Threei} just proves that most of those "tested and proven" sayings is bs
[13:43] {nemo} guess the welcome isn't over
[13:43] {Threei} what everyone knows isn't worth knowing
[13:44] {nemo} yeah, but this ain't your old school market
[13:49] {Threei} VZ) Venezuela's Chavez: may nationalize any companies that break laws; do not have a set list of sectors that will be nationalized
[13:49] {Threei} - says lawful private companies can continue on
[13:49] {Threei} - Reminder: yesterday Chavex commented that would expropriate certain coffee companies
[13:50] {Threei} cool
[13:50] {Threei} company breaks law - nationalize it
[13:50] {ese} Out drys .75 +.09
[13:50] {larisa} or execute like they do in China :)
[13:51] {Threei} or both
[13:51] {larisa} World is too funny lately
[13:51] {magoo} 22.96 was the reverse split high AIG before it was crushed
[13:51] {nemo} or pass a law and retroactively charge them
[13:55] {ese} Out HBAN .56 +.06 it a good day
[13:55] {ese} it's
[13:56] {nemo} gotta' go...c u 2 morow insha Alah
[13:57] {larisa} bye nemo :)
[13:57] {ese} i'm with ya nemo.......see you all tomorow......getting ready to go to Copenhagen Denmark
[13:57] {Threei} Long Setup: HEV .85 - .90
[13:57] {Threei} if holding above .80
[13:58] {Threei} .75 is a bit better stop technically but I am trying to keep it in scalping framework risk qwise
[13:59] {Threei} take care ese
[14:04] {Threei} if it goes, planning to sell half above 7 and see about secind half - maybe offer it into eod run closer to 7.20, maybe even hold some overnight
[14:07] {Threei} VP and cabinet fan out to hold townhall meetings and speeches about recovery plan success
[14:07] {Threei} do these guys ever stop campaigning?
[14:07] {Threei} someone should have told them election is over
[14:11] {Threei} (US) SEC's Schapiro confirms evaluation of 'flash trading' and the surrounding inequity associated with the trading - CNBC interview
[14:11] {Threei} - Notes that the SEC is moving 'quite decidely' toward banning flash trading, but still must move through regulatory process, so can not be done instantaneously.
[14:22] {JohnK} nice scalp HEV, thx T :)
[14:23] {patel} u still plan on keeping it to 7
[14:23] {patel} threei
[14:26] {Threei} ?
[14:26] {Threei} did anything change?
[14:27] {Threei} no go
[14:27] {JohnK} got in at .85, out at .89
[14:27] {patel} that is a very strange stock man
[14:27] {patel} just dropped pretty hard
[14:28] {JohnK} thin market
[14:28] {JohnK} small shares
[14:28] {Threei} FDIC's Bair: Should implement pay standards on insured banks to encourage long term performance- interview comments
[14:28] {Threei} - Comments that banking system confidence is improving
[14:28] {Threei} - reform on pay should be through principles, wary of setting dollar limits
[14:29] {Threei} HEV CEO: It is not an issue to raise capital; currently in negotiations for $480M worth of low cost loans
[14:29] {Threei} - Seeing increasing battery annual revenue to $2.25M in 2015 if can attain 5-12% of battery market (6.85, +0.33, 5.06%)
[14:30] {dptl} Vad did you try that getco today?
[14:30] {Threei} no, I still haven't updated version
[14:31] {dptl} ye me too....but want to check with Dave first he usualy knows everything
[14:33] {Threei} not really... I asked me recently about production of ivory buttons in South Argentina in 19th century, he had no idea
[14:33] {dptl} but he is prob. drinking today :)
[14:33] {Threei} asked him
[14:33] {dptl} lol
[14:33] {magoo} we in anything vad?
[14:34] {Threei} nope
[14:34] {patel} stalking anything???
[14:34] {magoo} sell from hell AIG..not in..but it double topped
[15:05] {jfjf64} s aig 21.05
[15:05] {magoo} ICOG vad
[15:06] {Threei} I don't have news
[15:06] {Threei} anyone?
[15:06] {magoo} prob break thgose trades
[15:07] {fernp} no news here
[15:07] {Threei} shrug
[15:08] {jfjf64} grr
[15:08] {Threei} May 16 last news on it, filing for bakruptsy
[15:10] {magoo} we in anything?
[15:10] {magoo} fell asleeop
06[15:10] * Threei slaps magoo around a bit with a large alarm clock
[15:13] {Threei} heh... HEV shakeout
[15:13] {Threei} some stocks just have dishusting manners, I noticed...
[15:13] {Threei} who brought them up like this
[15:15] {patel} that shakeout was wrong
[15:15] {patel} i took a pretty big hit on that one
[15:17] {Threei} original stop was 5-7 cents, with slippage could have easily been about 12 on that
[15:18] {patel} i got hit for about 13 cents
[15:18] {Threei} if this is big hit for you, you should really re-think share size and/or trading thin stocks altogether
[15:18] {Threei} I mean come on... 13 cents equals big hit??
[15:18] {Threei} what kind of profits are you aiming for?
[15:19] {magoo} how many shares u take?
[15:19] {patel} i didnt get hit bad but it turned my profit for the day near 0
[15:19] {patel} i only took 400 shares
[15:19] {magoo} vad, u or i??
[15:19] {Threei} I don't understand it
06[15:20] * magoo slaps Threei around a bit with a large trout
[15:20] {Threei} something isn't right with trade/risk management
06[15:20] * magoo slaps patel around a bit with a large trout
06[15:20] * magoo slaps patel around a bit with a large trout
06[15:20] * magoo slaps patel around a bit with a large trout
[15:20] {patel} we talked earlier about it and it seems i am paying 2 much in commissions.
[15:23] {dptl} ok....have a good evening all,see ya tomorrow
[15:23] {Threei} doesn't sound like that's the only issue... something else is off
[15:23] {Threei} tajke care dp
[15:24] {_prth} 400 shares does not give you enough profit to scale
[15:25] {Threei} not really, unless it's a big mover
[15:26] {Threei} it's either training size, or a size for a very volatile stock
[15:26] {Threei} where risk control doesn't allow for tight stosp
[15:27] {_prth} and setting hard stops will get him taken out at a really bad fill depending on broker
[15:27] {patel} i stopped using hard stops
[15:27] {Threei} yikes
[15:27] {Threei} no way
[15:28] {magoo} but .13 cents on 400 is 52 bux correct?
[15:28] {patel} i was using hard stops but few days ago AKAM took me out
[15:28] {patel} and went up
[15:28] {patel} yes
[15:28] {patel} okay i traded BAC made over 90 dollars ont hat trade
[15:28] {_prth} so where did nvax fill at on the stop this morning and add commissions to that
[15:29] {patel} then i took LLTC made about 18 dollars on that
[15:29] {patel} then i got stopped on NVAX
[15:29] {Threei} hard stop is for the case whn you have to leave your computer unattanded
[15:29] {Threei} better than no stop at all
[15:29] {patel} and hten i got stopped otu for HEV
[15:29] {Threei} but when you can contorl events, use manual one
[15:30] {patel} slippages on NVAX was 5 cents
[15:30] {patel} slippage on HEV was about 4 cents
[15:30] {Threei} 18 dollars on LLTC?
[15:30] {patel} yes
[15:30] {patel} i took 200 off hte table on 1:1
[15:31] {patel} then put the rest at breakeven
[15:31] {patel} i am not complaining its just I need to know what I am doing wrong and make my trade management better
[15:34] {_prth} the percentage of dollars is high on commissions when trading smaller size if paying a flat rate, if you use per share cost platform then it be more cost effective with smaller size
[15:35] {patel} prth, i am paying .01 cents a share
[15:36] {Threei} that's twice the rate we are paying
[15:37] {Threei} great... now HEV is doing what I envisioned
[15:38] {_prth} that is $10 for a thousand shares, do you pay ecn fees too?
[15:38] {Threei} ECN is pass-through both ways for us
[15:38] {Threei} fee or rebate, dependinh on removing or adding liquidity
[15:39] {_prth} is patel with the same broker?
[15:39] {Threei} no
[15:40] {Threei} he pays .01/shre... we .005
[15:40] {magoo} which is more lol
06[15:40] * Threei slaps magoo around a bit with a large large abakcus since calculator is too complicated for magoo
[15:40] {_prth} well that is a big difference especially for scalping size
[15:41] {jfjf64} l met .05 break
[15:42] {patel} yup
[15:42] {patel} no ecn fees
[15:42] {patel} i get rebates and everything
[15:42] {patel} pretty much the same as you guys but the commisisons is doubled
[15:42] {Threei} hmmm... no fees but rebates?
[15:42] {patel} yes
[15:43] {Threei} something isn't right :)
[15:43] {patel} as long as I am sending the order through PFSI i pay no fees
[15:43] {patel} but i have to use INTEL and ARCAL for rebates
[15:43] {patel} what kind of fees do you have to pay threei
[15:43] {Threei} on add liquidity side only
[15:44] {Threei} you can do it using GETCO route for entry and ECN for exit with Laser
[15:44] {jfjf64} in
[15:44] {patel} pj plau
[15:45] {patel} oh okay
[15:47] {jfjf64} grrr
[15:51] {jfjf64} 21.83 l aig
[15:52] {jfjf64} in 88
[15:53] {jfjf64} .25cent stop
[15:56] {jfjf64} 1/1 half out
[15:56] {jfjf64} stop 22.00
[15:57] {Threei} you are azware of time remaining, right?
[15:57] {jfjf64} all out
[15:57] {Threei} good
[15:57] {Threei} thank you all, much better day today
[15:57] {Threei} have a great evening, see you tomorrow
[15:57] {magoo} ty vad..everybody
[15:58] {jfjf64} enjoy vad ty
[15:58] {larisa} bye :)
[16:00] {patience} look vad, the Trout Group is closing the Nasdaq .... what a good name :)
[16:00] {Threei} ROFL
[16:00] {patience} i wonder what they do for a business?
[16:00] {patience} where's magoo....
[16:02] {magoo} here