Thursday, August 13, 2009

Aug 13 2009

Blah day again, even so we got the main direction right. 2 wins, 3 stops, then flurry of action came in LVS and MGM but was mostly for momentum traders, with no chance to call technically sound entries and exits.

Session Time: Thu Aug 13 00:00:00 2009

[08:36] {nemo} hi lari
[08:37] {larisa} gm :)
[08:42] {Threei} *INITIAL JOBLESS CLAIMS: 558K V 545KE; CONTINUING CLAIMS: 6.202M V 6.300ME
[08:42] {Threei} - Prior jobless claims revised from 550K to 554K
[08:42] {Threei} - Prior Continuing Claims revised from 6.310M to 6.343M
[08:44] {nemo} is it you, or the good twin?
[08:45] {Threei} hmmm
[08:45] {Threei} this is the question I ask my self every morning looking in the morning
[08:45] {Threei} self says, that's for you to decide
[09:00] {KSystems} good morning
[09:00] {nemo} Wie geht's heute?
[09:00] {KSystems} entspannt, so kurz nach dem urlaub
[09:00] {Threei} KS :)
[09:00] {fernp} good morning everybody
[09:00] {nemo} Wunderschoen
[09:00] {Threei} fern :)
[09:01] {nemo} Haben sie Reise gemacht/
[09:01] {nemo} ?
[09:01] {KSystems} jawohl :)
[09:01] {nemo} wohin
[09:01] {KSystems} samos
[09:02] {nemo} toll
[09:02] {KSystems} auf jeden fall!
[09:02] {nemo} Sie sind doch wieder in asylum zuruck
[09:02] {KSystems} lol
[09:03] {KSystems} im irrenhaus?
[09:03] {KSystems} ja, das kann man so sagen
[09:04] {nemo} Ja, und heute der Boesezwilling Vad ist der Leiter
[09:04] {wulff} leiblings
[09:04] {nemo} oh oh, schwuele wulff?
[09:05] {wulff} das verstehst ich nicht
[09:05] {Threei} who is for kicking these folks out?
[09:06] {cosmo} :)
[09:06] {Threei} oh, and nemo... now we know, it's me
[09:06] {Threei} not a good twin
[09:06] {fernp} lol
[09:07] {nemo} yeah, that's what I told K here: [09:04] {nemo} Ja, und heute der Boesezwilling Vad ist der Leiter
[09:07] {nemo} Wulff, wohnen Sie im Deutschland?
[09:08] {Threei} ok... this is becoming impolite
[09:08] {Threei} english please
[09:08] {nemo} Wullf, do you live in Germany?
[09:08] {nemo} better?
[09:08] {wulff} nein, im universitet hatt studiert
[09:09] {nemo} he said, no, he studied German at University.
[09:09] {wulff} aber nun spreche ich swedisch
[09:09] {cosmo} thx nemo
[09:09] {nemo} which is different from lernen, huh wulffy
[09:09] {wulff} yes true
[09:09] {nemo} wulff also speaks swedish
[09:10] {nemo} that's what's interesting about German, makes a great base for, Dutch Danish, and the norse languages
[09:11] {Threei} HGSI Hearing Leerink Swann making positive comments (timing uncertain)
[09:11] {Threei} - Note: Price Target raised to $30 from $16 at Leerink Swann on 8/11; Reiterates Outperform rating (16.21, 0.00, 0.00%)
[09:11] {wulff} actually confused the hell out of me, syntax wise
[09:12] {cosmo} GSIC
[09:12] {nemo} it was the same for english when you got into the mechanics. Ever try reading The Frankfurter Allgemeine Zeitung-that still hurts
[09:14] {nemo} I'm doing some poetry translations now. Ow...try getting poetic license in one language to sing in another. Oy weh!
[09:14] {Threei} poor jf
[09:14] {KSystems} nemo tell me anyone who isnt hurt by the FAZ
[09:15] {Threei} he suffered enough of my photos, now nemo'as poetry is waiting for him
[09:15] {dino} gm all
[09:15] {Threei} CIT Enters agreement with Fed (1.28, 0.00, 0.00%)
[09:15] {Threei} dino :)
[09:15] {nemo} When I worked at Henkel the German's hated reading it before coffee
[09:16] {nemo} no, I'm not translating to put on a website
[09:16] {Threei} adopts tax benefits preservation plan
[09:19] {dptl} good morning all
[09:19] {dptl} .
[09:19] {Threei} dp :)
[09:20] {Threei} watching HGSI and BAC
[09:20] {nemo} look at Rimm
[09:21] {Threei} what for?
[09:21] {nemo} chart formation?
[09:21] {Threei} RIMM volatility is not a good idea at the open
[09:29] {magoo} morn
[09:29] {Threei} magoo
[09:30] {nemo} what was that about RIMM!
[09:31] {Threei} watching BAC for entry pn pullback
[09:31] {Threei} desirably .55 - .60 area
[09:32] {Threei} Long Setup: HGSI .75 break half lot
[09:32] {nemo} stuck quote on bid @ .67
[09:32] {Threei} if stays above .60
[09:32] {Threei} Long Setup: BAC .70 break
[09:33] {Threei} if stays above .60
[09:35] {Threei} BAC elects pullback enty it seems
[09:36] {Threei} first strength from here
[09:36] {Threei} stop under .55 for scalpers, under .50 for day traders
[09:37] {Threei} market more weakness
[09:38] {Threei} no go BAC
[09:45] {Threei} Long Setup: RIMM .20 break half lot
[09:46] {patel} 72.05 stop
[09:47] {Threei} I'd prefer under 72
[09:47] {Threei} no worky
[09:47] {fernp} sigh
[09:48] {nemo} closing the gap
[09:50] {dino} sm s esi .49
[09:54] {nemo} Hey Vad, I thought the market was supposed to rocket into the stratosphere this morning :)
[09:57] {Threei} what made you think so?
[09:58] {nemo} kind of a joke: You always say market does opposite. Well, the world markets rocketed, futures were way up, and a little blip about unemployment claims BAM!!!
[09:59] {Threei} F Reportedly plans to increase Q3 production by 10K units (26.42, +0.20, 0.76%)
[09:59] {magoo} cant believe how bad RIMM trades anymore..hsater it piece of crap
[10:00] {Threei} *JUNE BUSINESS INVENTORIES: -1.1% V -0.9%E
[10:00] {Threei} - prior revised from -1.0% to -1.2%
[10:02] {Threei} Long Setup: WFC .40 break if stays above .30
[10:02] {Threei} aww
[10:02] {Threei} late
[10:02] {Threei} don't chase
[10:03] {Threei} see if pulls back under .40
[10:03] {dino} esi bstop to .52 stuck
[10:03] {Threei} grrr
[10:04] {dino} cov .37, +.12
[10:05] {magoo} u reading CAT vad
[10:05] {Threei} hesitated on 47 break
[10:06] {Threei} oh well
[10:10] {Threei} Long Setup: MXIM .75 break
[10:11] {dino} bobe sm l .90
[10:11] {patel} .58 or .67 for stops
[10:11] {Threei} under .65
[10:12] {Threei} CAAS...
[10:12] {Threei} momo stock
[10:12] {Threei} no technicals to it
[10:13] {Threei} if takes big offers at 8.80, has a good chance to break 10 and run
[10:13] {Threei} risky as hell
[10:13] {Threei} Yesterday 05:45 CAAS Reports Q2 $0.24 v $0.12e, R $62.5M v $48.8Me (2 est)
[10:13] {Threei} - Guides FY09 Rev +20% y/y (implying $195.8M v $186.6Me
[10:14] {Threei} 9.80 that was of course
[10:14] {Threei} GM CEO: August sales appear 'robust'; some signs starting to flash green - CNBC (17.89, +0.04, 0.22%)
[10:15] {nemo} offers piling up at .80
[10:15] {dino} cisg
[10:20] {dino} cisg sm s .75
[10:22] {magoo} in mxim
[10:22] {Threei} market is preparing for blastoff
[10:22] {Threei} unless my feel is completely off
[10:22] {Threei} which is a possibility of course
[10:22] {fernp} in MXIM
[10:23] {nemo} caas crashed
[10:23] {Threei} Reportedly US bankruptcy filings up 35% for the 12 months ended June 30, 2009
[10:23] {Threei} no it didn't
[10:23] {Threei} this is how it trades
[10:23] {dino} main street dies while markets rock, hmmmm
[10:23] {Threei} [10:13] {Threei} risky as hell
[10:24] {nemo} yep. .17 spread
[10:26] {Threei} MXIM over 1:1
[10:26] {fernp} ty Vad
[10:26] {Threei} half out or scalp
[10:26] {patel} ty
[10:26] {patel} i scalped it
[10:29] {magoo} outy .87 TY
[10:30] {Threei} Market Internals update at 10:30amET
[10:30] {Threei} - NYSE volume 125M shares, about 53% below its three-month average; decliners lead advancers by 1.1:1.
[10:30] {Threei} - NASDAQ volume 515M shares, about 4% below its three-month average; decliners lead advancers by 1.2:1.
[10:30] {Threei} - Note: NYSE has reportedly been having technical issues
[10:36] {magoo} any read AMZN vad?
[10:37] {Threei} looks long to me
[10:37] {Threei} but I am biased
[10:37] {Threei} I can't shake off the feeling of market preparing to roast da bears
[10:37] {magoo} i thought long too if IF mkt helps
[10:38] {magoo} mxim weird trader
[10:38] {magoo} not familiar with this beast
[10:38] {Threei} here comes the blast
[10:39] {magoo} amzn .30 cents
[10:39] {Threei} anyone went for WFC on pullback?
[10:40] {magoo} no but caught amzn
[10:42] {magoo} c'mon mkt another leg up
[10:43] {magoo} see vad..just ask nice
[10:45] {Threei} I hate it... a few shakeouts in the morning kept me from calling too many plays I saw later on
[10:45] {Threei} BC, 8.60 break long
[10:45] {Threei} CAT
[10:46] {Threei} CHKP
[10:46] {dino} cov cisg .15, +.60
[10:47] {dino} rovi
[10:47] {magoo} just call them boss and we keep stops ..if sets up
[10:47] {Threei} at any other moment, CHK 27.80 break would be irresistible
[10:47] {Threei} that's how I usually see it
[10:47] {magoo} have faith in your minyons
[10:48] {Threei} but these cries after 2-3 stops are demoralizing :)
[10:48] {nemo} what cries?
[10:50] {magoo} u know whats demoralizing
[10:50] {Threei} barber quartets?
[10:53] {magoo} fish
06[10:53] * magoo slaps Threei around a bit with a large trout
06[10:53] * nemo slaps magoo around a bit with a large trout
[10:53] {magoo} hey..what i do??
[10:54] {nemo} you're breathing
[11:01] {Threei} ECB reportedly moving towards a standardization of deposit guarantees for Euro Zone
[11:01] {Threei} - Sees 100K deposit coverage as appropriate (related XLF IXG )
[11:04] {dino} sm apol l .00
[11:23] {patience} nope...i'm looking at natural gas plays
[11:24] {dino} cisg waking up again
[11:25] {dino} wow snda down almost $20 in two weeks
[11:51] {dino} acad
[11:51] {Threei} no news that I see
[11:52] {dino} nor i
[11:57] {fernp} RF breaking hod
[12:02] {Threei} Long Setup: HIG .70
[12:03] {Threei} not a scalp for me
[12:03] {Threei} target closer to 20, quite possibly above
[12:07] {dino} darn acad was waiting s at .50
[12:21] {dino} cisg spike-r-oni
[12:27] {patel} what kind of stop u looking at for HIG
[12:27] {patel} below 19.60
[12:29] {Threei} I'd prefer .55, .60 may be a bit too stingy
[12:30] {Threei} but easy to trail as soon as next resistance is broken
[12:30] {Threei} which is .80
[12:32] {magoo} in hig-mont
[12:34] {fernp} in HIG too
[12:34] {patel} in HIG
[12:36] {magoo} need more form lynch mob if fails
[12:37] {dino} ipcm
[12:37] {nemo} jeez mags, putting enough pressure on poor Vad
[12:37] {magoo} he responds well too pressure
[12:38] {nemo} time for the rocket launcher Vad?
[12:38] {Threei} my response to pressure differs depending on time of the year
[12:39] {nemo} yeah, you might get dino collaterally
[12:39] {Threei} in August it's "good bye, see you after Labor day, when the volume and activity return. Until then, if you don't want to put up with sporadic activity, just take vacation"
[12:40] {Threei} I mean come on... aside of last year which was complete anomaly, have you ever seen t=radeable August?
[12:41] {Threei} if we are making 3 profitable days each week, we need to be highlighted in the next Guiness book
[12:41] {nemo} the beer?
[12:45] {dino} apol out .07, +.07, things' stuck
[12:49] {Threei} now that .60 successfully held the test, stop can be trailed
[12:52] {Threei} Preview: Treasury's $15B 30-year bond auction results due out just after 1PM ET
[12:52] {Threei} - $1B increase from the May auction
[12:52] {Threei} - bid-to-cover ratio at the May auction was 2.14
[12:53] {nemo} put tbt and tlt on your screens
[12:54] {Threei} oh btw, on ACAD:
[12:54] {Threei} ACADIA Pharmaceuticals Inc Ticking higher on speculation of positive results in upcoming release of phase 3 parkinsons disease trial
[12:54] {Threei} - on Aug 5, management said it remains on track to report top-line results from this Phase 3 pimavanserin trial during the third quarter. In May, ACAD, completed enrollment for the trial for patients with Parkinsons disease psychosis (PDP).
[12:56] {Threei} hope this auction won't screw up our HIG play
[12:56] {nemo} that's why I mentioned tbt
[12:58] {nemo} tbt dropping
[13:00] {patel} i went on and cut HIG for a +.04
[13:01] {nemo} tbt continues to drop auction must be goo
[13:01] {nemo} d
[13:01] {Threei} nice
[13:02] {Threei} - indirect bidders take 48.1% of competitive bids
[13:02] {Threei} - bonds draw 4.541%, 16.7% alloted at high
[13:03] {Threei} 1:1 HIG
[13:03] {fernp} i am out TY Vad
[13:03] {Threei} welcome
[13:03] {Threei} half out for me, acting according to a plan
[13:04] {magoo} u ever vary off the plan?
[13:04] {Threei} yes
[13:04] {Threei} but I need reason for it
[13:05] {magoo} like..if we drinking and u plan to get drunk..are we getting drunk?
[13:05] {Threei} and so far everything goes according to scenario
[13:11] {dino} sm s acad .50
[13:23] {dino} acad bstop to b/e
[13:26] {dino} brb
[13:26] {Threei} so, we got 2 out of 3 back, right?
[13:28] {Threei} if you all are asleep, I won't even bother looking for two more {G}
[13:28] {larisa} do not make them count :)
[13:28] {Threei} oh
[13:28] {Threei} I forgot
[13:28] {Threei} we are abakus-challenged
[13:28] {Threei} even though Raven thinks it's abacus
[13:35] {dino} cov acad .35, +.15
[13:35] {Raven} sigh
[13:38] {nemo} You want me to tell you about one I watched but didn't call?
[13:38] {Threei} why?
[13:39] {Threei} I mean, why yes
[13:39] {nemo} give you a chance to abuse me
[13:39] {Threei} as if I needed a reason
[13:39] {Threei} or excuse
[13:39] {nemo} Rimm when it dropped below 72.20
[13:40] {nemo} whacked up against the pivot a coupla times, saw it tested .15 acouple times, market was dropping, said it'll probably drop if it goes below .20
[13:40] {nemo} there, abuse me...
[13:40] {Threei} sure here goes
[13:40] {nemo} should I grab my ankles
06[13:41] * Threei forwards nemo's e-mail address in his reply to 80 latest smap e-mails, adds the text "please e-mail all these great offers to this guy, he will appreciate them greatly"
[13:42] {nemo} now that's beyond the pale...quite uncalled for...ridikulous
[13:43] {Threei} btw, speaking of great offers... fern, any chance you would drop to Tarragona on my behalf?
[13:43] {Threei} there is this big prize I won... but I must come to their office in person
[13:43] {Threei} to cailm it
[13:48] {dino} powi
[13:52] {nemo} I guess you can kick me some more on RIMM
06[13:59] * Threei sends nemo's address to 80 more spammers
[13:59] {fernp} Tarragona is not beatiful. Too many factories. Too much smoke
[14:00] {fernp} Andalucia is diferent. Much better. south of Spain
[14:00] {nemo} redemption: TCK might be a play here if it loses .20 again
[14:05] {Threei} guys, I just talked to dave about this GETCO thing
[14:06] {Threei} he will have some inetersting update fo us within nearest days
[14:06] {nemo} you take tck, it went 1:2
[14:13] {nemo} frickin RIMM
[14:16] {magoo} trades terribleanymore
[14:16] {magoo} i smashed my blackberry so pissed
[14:16] {nemo} no, it's been going down since I didn't call the short
[14:17] {nemo} tck gave .12 on .05 risk though
[14:20] {magoo} HIG bounce lord vader?
[14:20] {Threei} that's what AI am trying to time
[14:21] {nemo} c u 2 morow
[14:21] {Threei} don't wat to be too early, I've had my share of shakeouts for the next couple month
[14:21] {Threei} but inevitable outcome is, missing quite a few plays
[14:21] {Threei} take care nemo
[14:22] {magoo} in defense..its been tricky
[14:25] {Threei} in whose defense?
[14:31] {magoo} sigh
[14:32] {Threei} mags... if you are horrifyingly bored,
[14:32] {Threei} watch CAAS
[14:33] {Threei} .60 break... and if breaks .80, going to jump over 10 most liekly
[14:33] {Threei} if doesn't work, will kill you
[14:33] {Threei} but one thing is for sure: you won't be bored
[14:34] {magoo} odds?
[14:34] {Threei} 50.0076
[14:35] {magoo} himmmmm..not bad odds
[14:37] {Threei} of course... if all your prior encounters with odds theory were to jump from the Empite State building and see if you survive...
[14:39] {Threei} RF Ticks higher after Jim Cramer makes comments
[14:43] {dino} sm s hrs .55
[14:54] {dino} hrs bstop to .45
[14:55] {dino} cov .40, +.15
[14:59] {dino} sm s cisg .75
[15:02] {Threei} LVS Trading halted; news pending
[15:03] {Threei} I was thinking of long on it
[15:03] {Threei} good thing I skipped, lol
[15:03] {Threei} or not
[15:03] {patel} mgm is spiking
[15:04] {Threei} symapthy
[15:04] {Threei} but news is not known yet
[15:05] {Threei} MGM maybe a way to play LVS news when it comes out while LVS itself is still hatled
[15:06] {magoo} mgm already ripping up
[15:07] {Threei} and down
[15:07] {Threei} pure speculation at this point
[15:13] {dino} hrs sm l .25
[15:13] {magoo} BAC stronggggg
[15:16] {dino} cisg stopped ouch
[15:16] {Threei} AMGN Reportedly fails to win backing from FDA on preventive use of drug to prevent Osteoporosis
[15:16] {Threei} - Earlier received (5.77, 0.00, 0.00%)
[15:17] {Threei} Earlier received approval for use of Denosumab in treatment of Osteoporosis
[15:18] {patel} Speculation is that the LVS halt is likely due to an announcement that could improve the company's liquidity position -- possibly some sort of capital raising event (potentially an IPO of Maccau assets in Hong Kong Market, convertible bond offering, selling of a minority stake, or financing for stalled projects), or possibly a covenant waiver/amendment... The mentioned events are company specific in nature, but the casino stocks t
[15:18] {Threei} LVS Completes Amendment of Macau Credit Facility Las Vegas Sands Corp. Completes Amendment of Macau Credit Facility
[15:20] {Threei} lol, MGM is lost
[15:25] {dptl} have a good evening all
[15:25] {Threei} LVS opened
[15:27] {Threei} take care dp
[15:27] {Threei} now MGM found what to follow
[15:29] {Threei} wow
[15:30] {Threei} Amendment provides the company with important advantages, including the ability to sell a minority stakes
[15:30] {Threei} Market Internals update at 3:30pmET
[15:30] {Threei} - NYSE volume 475M shares, about 45% below its three-month average; advancers lead decliners by 1.4:1.
[15:30] {Threei} - NASDAQ volume 1.75B shares, about 3% below its three-month average; advancers lead decliners by 1.1:1.
[15:30] {Threei} - VIX index -1.3% to just over 25.00
[15:30] {Threei} - Note: NYSE has reportedly been having technical issues
[15:32] {dino} cisg monster rinse
[15:33] {dino} all day 3i
[15:34] {Threei} yeah
[15:34] {dino} yeah
[15:35] {jfjf64} good afternoon all
[15:35] {dino} :)
[15:35] {Threei} hey jf
[15:35] {jfjf64} how was day
[15:35] {Threei} blah
[15:35] {Threei} LVS bounce candidate
[15:36] {jfjf64} need somethin
[15:36] {jfjf64} .60 l
[15:37] {Threei} wow
[15:37] {Threei} mentioned it under .50
[15:37] {Threei} why chase so much?
[15:38] {jfjf64} out .66
[15:38] {Threei} oh I see...
[15:38] {Threei} you have an itch to scratch {G}
[15:38] {jfjf64} yup
[15:38] {Threei} AMGN FDA panel rejects drug for treament of bone loss in breast cancer
[15:38] {jfjf64} wife had me shoppin all day for trip
[15:39] {jfjf64} wow
[15:39] {Threei} IMO... both LVS and MGM are not done
[15:39] {Threei} but trade so gectically, it's pure momo
[15:39] {Threei} no technicals
[15:40] {jfjf64} what gectacally
[15:40] {Threei} hectically too
[15:40] {jfjf64} .80 l lvs
[15:41] {Threei} oh boy
[15:41] {larisa} lol
[15:41] {Threei} you chaser you
[15:41] {jfjf64} out .85
[15:42] {jfjf64} chicken little
[15:42] {jfjf64} look at this
[15:43] {jfjf64} did this stop tradin today
[15:43] {Threei} yes, was hatled earlier
[15:44] {jfjf64} s mgm .73
[15:44] {Threei} huh?
[15:44] {Threei} LVS goes above 14
[15:45] {Threei} MGM goes above .80
[15:46] {jfjf64} .82 was nice trigger mgm
[15:46] {Threei} here comes LVS
[15:46] {jfjf64} look at wynn
[15:46] {patel} what type of stop u looking at for LVS
[15:46] {Threei} where are you in?
[15:47] {patel} notr yet
[15:47] {Threei} oh
[15:47] {Threei} no no
[15:47] {patel} was lokoing over break of 14
[15:47] {Threei} 14 is not entry
[15:47] {Threei} no way
[15:47] {patel} ok
[15:47] {patel} lol
[15:47] {jfjf64} boy vegas is lookin good these days
[15:47] {jfjf64} easy patel
[15:47] {patel} jf, lets go hit the roulette tables
[15:48] {jfjf64} love too
[15:49] {jfjf64} vad we sd hv a little get together there for all ya reality family
[15:49] {Threei} I guess we need to find time and go over how you play this kmind of movements
[15:49] {Threei} actually, gotta do it anyway since we are likely to see more of those in the fall
[15:49] {Threei} in Vegas?
[15:49] {Threei} how about bahamas?
[15:49] {jfjf64} .73 s mgm
[15:50] {Threei} Freeport, january
[15:50] {jfjf64} luv set up
[15:50] {jfjf64} in
[15:51] {Threei} if .55 gets taken on CAAS, I am taking it overnight
[15:51] {jfjf64} sell
[15:53] {patel} at .54 right now
[15:55] {jfjf64} oh boy 5 min
[15:57] {jfjf64} out .77
[15:58] {jfjf64} 3 cent lose
[15:58] {dino} out hrs -.10, out bobe -.02
[15:58] {Threei} okay guys, have a good evening, see you tomorrow
[15:59] {larisa} see you :)
[15:59] {jfjf64} gn all
[15:59] {fernp} bye. good evening all
[16:00] {magoo} ok..ty all