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 volatility...duck!

[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 in..to 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} TREASURY'S $15B 30-YEAR BOND AUCTION BID-TO-COVER RATIO: 2.54 V 2.14 PRIOR AND 2.10 AVE OVER THE LAST 5 AUCTIONS

[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