Friday, August 28, 2009

Aug 28 2009

After a week of fireworks we had fairly quiet, I'd even say lacklustre Friday. Little scalp here, little stop there... couple better trades in second half of the day took us into slightly profitable territory and NVAX/BCRX run aadded some money and entertainment.

Session Time: Fri Aug 28 00:00:00 2009

[08:10] {Threei} AIG Shares are trading up over 10% ($52.76) in NY pre-market on no new appearant news (47.84, 0.00, 0.00%)
[08:10] {Threei} lol
[08:11] {nemo} well...not available to short, where else they gonna' go but up...
[08:14] {Threei} as if shorts is the only (or even necessary) thing that drives stocks down
[08:30] {fernp} good morning everybody
[08:30] {Threei} fern :)
[08:30] {patience} good morning guys....back from the sandy beaches of Parksville. how has trading been?
[08:31] {Threei} patience :)
[08:31] {Threei} fantastic
[08:32] {patience} is momo coming back?
[08:35] {Threei} on selected stocks
[08:44] {nemo} What were presonal Income/Spending?
[08:45] {Threei} JULY PERSONAL INCOME: 0.0% V 0.1%E; PERSONAL SPENDING: 0.2% V 0.2%E
[08:45] {nemo} ty
[08:55] {nemo} hi lari
[08:56] {larisa} gm nemo:)
[08:56] {Threei} larisa :)
[08:57] {larisa} :)
[08:59] {larisa} nemo, you need to turn off {joins}, {parts} {quits} etc. or you like to be in control and see whats going on on the channel ? :)
[08:59] {nemo} hehehehe
[09:00] {Threei} INTC Raises Third-Quarter Revenue and Gross Margin Expectations (19.47, 0.00, 0.00%)
[09:00] {nemo} that's what popped the qs
[09:00] {Threei} yup
[09:02] {Threei} INTC Guides Q3 Rev $9.0B (-/+ $200M) (implies $8.8B-9.2B v $9.07Be), Q3 GM 53% +/- 2 points v 59% y/y
[09:02] {Threei} ** Note on 07/14: Guides Q3 Rev R$8.5B (plus or minus $400M) (implies $8.1B-$8.9B v $7.81Be
[09:05] {magoo} morning
[09:05] {Threei} magoo :)
[09:06] {magoo} i didnt want AIG to gap over 50
[09:06] {Threei} nobody did
[09:08] {magoo} vad..i see 53.75 high
[09:08] {Threei} yup
[09:08] {magoo} u think its got a run to 55 in it?just from your experience
[09:09] {Threei} it all depends on whether squeeze is still in full bloom or it's a last drops being mined out
[09:09] {Threei} if squeeze is not over, 60 is just as likely
[09:10] {Threei} if it's a last gasps, shaking out last bears... can just reverse and go down with very few bounces
[09:10] {cosmo} gee...time to retire...last day here after all these years...
[09:10] {cosmo} for a week or so
[09:12] {Threei} hmm?
[09:12] {cosmo} lars gave me the idea...
[09:13] {cosmo} going to big foot contry
[09:13] {Threei} for a week?
[09:13] {cosmo} bigfoot that is
[09:13] {dino} gm all
[09:13] {Threei} dino :)
[09:13] {cosmo} at least a week
[09:14] {cosmo} honest....
[09:14] {dino} have fun cos
[09:14] {cosmo} i'll try
[09:14] {brian3579} gm all
[09:14] {Threei} brian :)
[09:15] {Raven} Oregon cosmo ?
[09:15] {nemo} Himalayas?
[09:15] {cosmo} mountains
[09:15] {patel} good morning traders
[09:16] {Raven} that's WA ?
[09:16] {cosmo} OR too
[09:16] {Threei} patel :)
[09:16] {Raven} OK ... nice ... up near the Canuk border
[09:16] {patel} monday i be trading from home.
[09:16] {nemo} join the club
[09:16] {cosmo} Paulina
[09:17] {nemo} porizkova?
[09:17] {Threei} Bernanke identity theft on CNN
[09:17] {nemo} saw that yesterday...funny
[09:18] {cosmo} ....east of Prineville
[09:18] {Raven} I see it ... nice country
[09:18] {cosmo} ...taking a camera, just in case
[09:19] {Raven} lol ... those digital pics pretty expensive
[09:19] {larisa} a bit early, fall colors will come in 4-5 weeks :)
[09:19] {Raven} I like Burns and the Malheur NWR
[09:20] {Raven} but that is in the desert
[09:20] {cosmo} i'll fall before then i guess
[09:20] {Raven} sigh
[09:20] {Threei} OK guys, game plan:
[09:21] {nemo} buy stock, sell stock
[09:21] {Threei} let's be more careful today, we had fantastic week, especially for August,
[09:21] {Threei} easy to start feeling invincible
[09:21] {Threei} which is a surefire recipe for disaster
[09:21] {magoo} nemo. u forgot most importasnt ..for a profit
[09:22] {nemo} buy low sell high
[09:22] {nemo} Pride cometh before the fall...
[09:22] {Threei} first thing to do upon open is wait for sharp pullback,
[09:22] {Threei} that was market's trademark lately
[09:23] {Threei} and provided us with nice entries, like yesterday's first trade on HIG
[09:23] {Threei} then we will see what transpires, so far working assumption is uptrend
[09:24] {magoo} lets watch tech too vad...might be tech leader day as compared to say financials
[09:25] {dino} fotune favors the bold (but darkness lies one inch ahead)
[09:25] {cosmo} and darkness lies....
[09:26] {Raven} sigh
[09:26] {Threei} I second that
[09:26] {cosmo} just helping...i thot
[09:27] {magoo} i'm tired "of the lies" lol
[09:28] {nemo} life is chaos, absurdity and suffering...thank god for alcohol
[09:30] {magoo} u read my book?
[09:30] {nemo}'s part of some books I helped write (alcohol part is my personal touch)
[09:30] {nemo} frickin aig
[09:30] {cosmo} alth
[09:31] {nemo} resource stoks too
[09:32] {bluejet} GM
[09:32] {Threei} blue :)
[09:32] {nemo} ford
[09:33] {nemo} no shorty aig again today
[09:33] {Threei} OK
[09:33] {Threei} here comes HIG
[09:35] {Threei} Long Setup: HIG .70 break if holding .60
[09:35] {nemo} oops
[09:36] {nemo} nice vad
[09:36] {Threei} anyone caught it?
[09:36] {magoo} me
[09:36] {nemo} nope
[09:36] {fernp} missed here
[09:36] {Threei} over 1:2 mags
[09:36] {magoo} out .9 somethion
[09:36] {magoo} 91
[09:37] {cosmo} alth wants 7
[09:37] {nemo} use GETCO on that Vad?
[09:37] {cosmo} gonna heal
[09:37] {dino} alth l .95\
[09:37] {Threei} no
[09:37] {Threei} that was one I wanted in for sure
[09:37] {Threei} not to save couple bucks
[09:38] {dino} out .15, +.20 alth
[09:38] {Threei} nice
[09:38] {cosmo} :)
[09:39] {dino} ty
[09:39] {nemo} db hig?
[09:39] {Threei} yup
[09:39] {Threei} same setup
[09:39] {Threei} invalidated
[09:40] {Threei} let's see if new range presents itself
[09:40] {Threei} Preview: August Final University of Michigan due out at 9:55amET
[09:40] {Threei} **consensus expectation: 64.0e v 63.2 preliminary
[09:40] {nemo} good drop immu
[09:42] {Threei} Long Setup: HIG .60 if holding .50
[09:42] {nemo} too fast again
[09:43] {nemo} mags you get it
[09:43] {magoo} in
[09:43] {fernp} in
[09:44] {Threei} AIG is dropping fast
[09:44] {Threei} no worky HIG
[09:46] {dino} clw
[09:46] {Threei} shakeout
[09:46] {dino} thin
[09:46] {nemo} no volume though
[09:46] {nemo} hig below 23.50 got nothing until 23
[09:46] {Threei} huh?
[09:47] {nemo} yesteay @ 1:20 low of 23:42
[09:47] {nemo} 23.42 low of last 3 minutes .41
[09:47] {Threei} how is 1:20 significant?
[09:48] {nemo} that was the time on the chart of that price...just coordinates
[09:50] {nemo} it's also right at pivot
[09:53] {dino} snp sm l .50
[09:54] {magoo} hig no play nice
[09:55] {dino} stop is .19 fwiw
[09:55] {dino} stopped
[09:56] {magoo} i cant trade without obama on tv
[09:56] {magoo} not used to it
[09:56] {nemo} you can watch him tomorrow morning give the eulogy
[09:57] {Threei} rude of HIG
[09:57] {magoo} im driving up there tomorrow
[09:57] {dino} obama "i want you to pay higher taxes"
[09:58] {Threei} Long Setup: DELL .50 break
[09:58] {Threei} if stays abpve ,45
[09:58] {magoo} that if always gets me lol
[10:00] {Threei} invalidated
[10:00] {Threei} specifically for you mags
[10:00] {nemo} crikey
[10:01] {magoo} yea
[10:01] {dino} lol
[10:03] {dino} elon
[10:04] {dino} clw getting wide
[10:05] {magoo} i suk with rimm ..lately...but could be bouncer
[10:06] {magoo} not here..just saying to watch
[10:06] {dino} snp lod
[10:09] {fernp} INTC if breaks .40, Vad?
[10:12] {magoo} hig makes me cry
[10:12] {magoo} had 2k
[10:12] {nemo} where?
[10:12] {magoo} vads call
[10:12] {magoo} stopped out
[10:13] {Threei} ican't tell INTC
[10:13] {nemo} it bounced right at the confluence fo that 1:20 low and the pivot
[10:17] {magoo} fannie and freddie doin it
[10:18] {Threei} how do you know?
[10:18] {nemo} voyeur
[10:25] {fernp} double bottom WFC?
[10:28] {Threei} could be if market reverses
[10:28] {Threei} let's lwet it stabilize
[10:28] {Threei} not finding much so far
[10:31] {nemo} getting volume pick up in wfc
[10:32] {nemo} immu had a nice little recovery
[10:38] {dino} sigm l .55
[10:40] {dino} vion blood
[10:44] {dino} aeh, aed, aef
[10:50] {nemo} wfc DB, then rose to .62 and then somebody tried a shakeout...if this breaks .64, is it a long?
[10:52] {dino} isg
[10:52] {Threei} I just can't tell
[10:52] {Threei} a bit patternless trading today
[10:52] {Threei} see me unusually quiet?
[10:53] {Threei} it's not coma yet
[10:53] {Threei} it's me not finding trades
[10:54] {magoo} hgsi ripps
[10:55] {dino} isp
[10:55] {dino} seems preferreds are running today
[10:58] {dino} snp sm l .50 last try
[11:03] {Threei} HGSI bounce time soon
[11:17] {brian3579} .
[11:18] {Threei} good point
[11:18] {nemo} Got joke for you brian
[11:18] {nemo} Guy goes into a store
[11:18] {Threei} uh oh
[11:18] {brian3579} ok
[11:18] {nemo} Sees all these jars of brains
[11:18] {nemo} all for sale
[11:18] {nemo} 1st jar: English brains 4.50 lb.
[11:19] {nemo} 2nd jar: French brains 3.80 lb.
[11:19] {nemo} 3rd jar: German brains 4.85 lb.
[11:19] {nemo} 4th jar: Italian brains 189.95 lb.
[11:19] {nemo} guy goes wtf!
[11:19] {nemo} How can those other brains be under $5 a lb.
[11:20] {nemo} and an italian's goes for so much?!
[11:20] {nemo} salesman says, "Have you any idea how many italians it takes to get a pound of brains?"
[11:20] {dino} roflol
[11:20] {nemo} by the way, I'm italian
[11:21] {nemo} well, 1/2
[11:22] {brian3579} good start keep them coming
[11:22] {larisa} no more than 1 a week
[11:22] {dino} hotdog walks into a bar, says i'll have a beer
[11:22] {brian3579} ok
[11:22] {dino} bartender says, sorry we don't serve food
[11:23] {larisa} lol
[11:23] {nemo} rimm shot!!!
[11:23] {brian3579} ohhhh
[11:23] {brian3579} when market is in coma
[11:23] {brian3579} joke time
[11:25] {brian3579} hgsi 20 break?
[11:25] {Threei} nah
[11:25] {Threei} .80 was it
[11:26] {Threei} 20, could be later on,
[11:26] {brian3579} k
[11:26] {Threei} if it consolidates for awhile
[11:26] {Threei} between .90 and 20
[11:26] {Threei} AIG fast drop
[11:28] {Threei} SEC reportedly delayed an inspection of a possible 'questionable' credit rating agency (related MCO MHP FIM.FR )
06[11:33] * magoo slaps laserdave around a bit with a large trout
[11:33] {Threei} way to stay focused mags
[11:35] {magoo} i was disappointed in my reation time..2 mins unacceptable :)
[11:36] {magoo} so glad i am not in AIG
[11:36] {magoo} i am fat..flat.. and looking at the gap
[11:36] {Threei} yup
[11:40] {magoo} no clue where it could bounce..up so much
[11:42] {Threei} retest of 51.50 from here
[11:42] {Threei} and if holding, bounce starts
[11:42] {Threei} big one
[11:42] {Threei} take it keep stip under .50 mags
[11:43] {Threei} I grabbed .63 between typing
[11:43] {Threei} bad typing too
[11:43] {Threei} out 1/3 .88
[11:44] {Threei} offering 1/3 more 52.25
[11:44] {magoo} i missed..went for coffee
[11:44] {Threei} jeez
[11:44] {magoo} or in a cvoma..your choice
[11:44] {Threei} and I risked missing it to type it in time for you
[11:45] {Threei} out
[11:45] {magoo} go ahead ..heckle me...made tons when u did
[11:45] {dino} tif sm s .70, stop .01
[11:45] {Threei} nah, just 25 cents
[11:45] {Threei} and -13 on the balance
[11:45] {magoo} C pummel
[11:45] {Threei} so all in all washout
[11:46] {Threei} but risk was small enough to try
[11:46] {magoo} was good
[11:47] {magoo} lesson for room vad here...on stops..point out this because we been pushuing momo of late
[11:47] {Threei} momo or not... stop is stop
[11:48] {magoo} im trying to show down side of these type so newer traders dont get crushed
[11:48] {nemo} 50.50 was the low of yesterday, bounced
[11:48] {Threei} it's not for discussion, it's not for thinking, it's not for second guessing
[11:48] {Threei} it's for taking
[11:49] {dino} vad, the machine
[11:49] {nemo} Yep, I might have problems taking trades, but I got no problem taking stops
[11:49] {magoo} if it loses 50..UGH
[11:49] {Threei} then I have just an idea nemo
[11:49] {Threei} how about you take some of mine
[11:50] {nemo} stops...I never don't take them, slippage some times but that's it
[11:50] {Threei} AIG momo is just as good on the downside...
[11:50] {Threei} too bad we don't have inventory for it
[11:50] {Threei} would be thing of beauty to make money off it on both sides
[11:51] {magoo} was just thinkoing that
[11:51] {Threei} 'cause you know... it will take just one more idiot on CNBC giving it $500 target for it to drop 20 bucks more
[11:51] {nemo} other financials, except for GS falling
[11:52] {nemo} mmmmhhhhh fas and aig look alot alike
[11:52] {nemo} we can short fas or play faz
[11:52] {dino} clw sm l .34
[11:53] {dino} wide
[11:53] {wulff} RIMM short below 74
[11:53] {Threei} it's not the same nemo... 20 cents in FAZ?
[11:53] {Threei} nothing after all this dollars in AIG
[11:54] {Threei} nice setup wulff
[11:54] {nemo} I understand, but we can't make money on the downside of aig
[11:54] {Threei} if market breaks down, should be a beauty
[11:55] {dino} tif b\stop to flat
[11:56] {wulff} in .97
[11:57] {nemo} gap close aig
[11:57] {dino} out tif +.05
[11:57] {Threei} [09:10] {Threei} if it's a last gasps, shaking out last bears... can just reverse and go down with very few bounces
[11:58] {magoo} insightful..who said that
[12:06] {wulff} anyone in an AIG mood?
[12:06] {magoo} could see 45
[12:15] {nemo} oh boy
[12:16] {Threei} IA) IAEA: Iran has 8,300 installed centrifuges; slightly lower than prior; country has fulfilled request for better monitoring of Natanz plant
[12:16] {Threei} - Comments that the rate of increase stockpile of enriched uranium has slowed; stands at approx 1,510 kg
[12:16] {Threei} - Puts completion of Arak Heavy water plant at approximate 60%
[12:18] {Threei} wulff
[12:18] {Threei} start covering RIMM IMO
[12:19] {magoo} [12:06] {wulff} anyone in an AIG mood?
[12:19] {magoo} [12:06] {magoo} could see 45
[12:42] {dino} .
[12:42] {nemo} market died
[13:05] {Threei} Long Setup: AIG .10 break
[13:05] {Threei} half lot
[13:05] {Threei} if stays abobe .90
[13:06] {Threei} 1:1
[13:06] {Threei} easy money
[13:07] {Threei} and I never thought I'd say that about AIG'
[13:07] {Threei} 1:2, out
06[13:07] * Threei slaps magoo around a bit with a large coma-awakener
[13:07] {Threei} 1:3... without me
[13:09] {Threei} you all are asleep?
[13:09] {Threei} why do I bother then
[13:10] {larisa} call normal stock you will see some are alive :)
[13:10] {Threei} Long Setup: NORMALSTOCK
[13:11] {larisa} lol
[13:11] {Threei} nope
[13:11] {Threei} see... everyone's asleep
[13:11] {larisa} back to 55 ?
[13:12] {Threei} dunno, but so far looks good
[13:15] {magoo} lets stay on it vad
[13:15] {Threei} nope
[13:16] {Threei} I am, in words of former president, misunderappreciated
[13:16] {Threei} like dino
[13:16] {Threei} we will go to mountain cave, three of us
[13:16] {Threei} I, dino and 6 pack
[13:17] {nemo} better bring a few kegs
[13:17] {dino} indeed
[13:17] {Threei} good bye cruel world
[13:17] {larisa} 6 pack abs or somefing else ?
[13:18] {Threei} wrong age
[13:18] {Threei} after 40 - keep abs, gimmie my beer
[13:18] {larisa} wrong attitude, i bet dino is different !
[13:19] {Threei} well, dino is young in spirit
[13:19] {dino} i try larisa, but i fear i am losing the battle
[13:19] {Threei} yeah, sooner or later beer wins
[13:19] {Threei} time is on its side
[13:25] {dino} tyy drop
[13:30] {dino} miseed it
[13:30] {dino} dllr
[13:33] {Threei} 62% Like Tax Cuts Over More Government Spending
[13:33] {dino} tif
[13:33] {Threei} crap
[13:34] {Threei} 38%???
[13:34] {nemo} that's easy, that's the 38% that don't pay taxes anyway...if taxes get cut, they lose money
[13:34] {Threei} ok
[13:34] {Threei} ty
[13:35] {Threei} faith in humanity is back
06[13:35] * nemo slaps Threei around a bit with a large trout
06[13:35] * nemo slaps Threei around a bit with a large 2X4
06[13:35] * nemo forgot the nails
[13:35] {Threei} what was that for?
[13:35] {nemo} faith in humanity
[13:38] {Threei} wulff... tell me you covered RIMM
[13:39] {wulff} yes
[13:39] {Threei} :)
[13:40] {Threei} missed AIG call though
[13:40] {Threei} went up over a buck
[13:40] {Threei} with 20 cents stop
[13:40] {wulff} was at lunch
[13:40] {Threei} who said you guys are allowedd to leave during trading day anyway
[13:41] {Threei} with haklf lot, that was $500 lunch
[13:42] {wulff} I know...believe me
[14:05] {fernp} have to go. not a great day here, monday will be better. Have a nice weekend all
[14:05] {magoo} bye
[14:05] {Threei} take care fern
[14:06] {nemo} cya
[14:06] {Threei} we had 4 great ones in a row
[14:06] {Threei} one is so so
[14:08] {fernp} yeah. overall, week ended in positive :)
[14:08] {fernp} see you
[14:22] {dino} pard\
[14:26] {wulff} VAD going to be leaving the room at end of month
[14:27] {wulff} wanted to say thanks
[14:27] {dino} good luck to you wulff
[14:27] {wulff} TY
[14:27] {nemo} must have been my sense of humor
[14:27] {Threei} welcome wulff, hope it was a good experiwence
[14:27] {wulff} hardly
[14:28] {larisa} lol
[14:28] {wulff} the best
[14:28] {Threei} hardly good} or hardly nemo?
[14:28] {Threei} lol
[14:28] {larisa} rofl
[14:28] {Threei} hey, you know where to find us
[14:28] {wulff} feel like I am on the right side of the trade now
[14:28] {Threei} great :)
[14:29] {dino} wtg
[14:44] {Threei} US Govt: Iran still not fully cooperating with International community with regards to nuclear program
[14:44] {Threei} - Note: The IAEA gave a generally positive to neutral report on Iran's nuclear program earlier today
[14:45] {Threei} NVAX Spain has reportedly cleared another 330M in spending for H1N1 prevention (5.96, +0.31, 5.49%)
[14:46] {Threei} NVAX daily is encouraging
[14:46] {Threei} I wish it broke this high in a more solid fashion thatg this crazy spike
[14:46] {Threei} butit's back on a radar
[14:46] {Threei} with BCRX
[14:47] {Threei} look at the pace
[14:47] {Threei} looks familiar?
[14:48] {Threei} wake up!!!
[14:49] {Threei} two momos at hand
[14:49] {nemo} watching both
06[14:49] * Threei slaps magoo around a bit with a large momo alarm
[14:50] {magoo} in nvax
[14:50] {Threei} welff don't leave... I can't stand these jellyfishes
[14:50] {Threei} wulffd
[14:50] {nemo} market's spiking too
[14:51] {Threei} too bad weekend is ahead
[14:52] {Threei} if tomorrow was trading day we would most likely have NVAX/BCRX mania
[14:55] {wulff} do what I can to kick the momo out of slo mo
[14:56] {Threei} Spain has cleared 270M for a vaccination program and the balance for drugs and educational programs
[14:58] {Threei} BCRX :)
[15:12] {Threei} WSJ: 71% of Cerberus investors have chosen to leave 2 of the fund's vehicles
[15:12] {dino} dllr l .23
[15:18] {nemo} aig
[15:21] {dino} out clw .73, +.39
[15:27] {Threei} good boy NVAX... let's do end of day run, will ya
[15:27] {Threei} and finish above .20
[15:28] {Threei} I may even consider taking some home
[15:28] {magoo} how about BCRX ?
[15:29] {Threei} candidate too, just more risky for a hold
[15:32] {Threei} 51% Rate Alcohol More Dangerous Than Marijuana
[15:36] {dino} they are pushing it for legalization, for tax reasons
[15:39] {Threei} what, no run?
[15:40] {nemo} huh?
[15:40] {Threei} no worry nemo, sleep tight
[15:40] {nemo} run was early today, it's friday
[15:40] {Threei} sigh
[15:40] {Threei} way to follow the conversation
[15:41] {nemo} BCRX NVAX?
[15:41] {Threei} uhhu
[15:41] {nemo} they had the early run, even you said, too bad it's Friday...little did you know...
[15:41] {dino} hmmmmmmmmmmmmmmmmmmm
[15:41] {Threei} double sigh
[15:42] {dino} fwiw magoo ran down the hallway awhile ago
[15:42] {nemo} can't get the jbe every time
[15:42] {Threei} my "too bad it's friday" was concerning NEXT day run
[15:42] {nemo} to do what exactly dino?
[15:42] {dino} but you can get the beer
[15:42] {Threei} 14:52] {Threei} if tomorrow was trading day we would most likely have NVAX/BCRX mania
[15:42] {nemo} me? Going to work out after
[15:43] {dino} good, me back to it monday
[15:53] {Threei} okay guys, lacklustre ending... hoped for some last minute fireworks in this pair
[15:54] {Threei} but Friday apathy took over
[15:54] {larisa} just look if there are news on FITB and you can go :)
[15:54] {nemo} P&Q take care Wulff
[15:54] {Threei} nothing on FITB
[15:54] {larisa} ty
[15:55] {Threei} gave a great weekend all
[15:55] {Threei} have too
[15:55] {larisa} see you next week all, good luck wulff :)
[15:55] {Threei} see you on Monday
[15:58] {cosmo} monday ... will never come...
[15:59] {dino} out snp flat
[15:59] {larisa} cosmo, have fun on vacation or retirement or both!! :)
[16:00] {dino} have fun cos.
[16:00] {cosmo} know how it is i guess...
[16:00] {dino} wulff take care bro
[16:00] {cosmo} thx....wish me luck...
[16:01] {dino} good luck\
[16:02] {larisa} :)
[16:04] {wulff} thanks
[16:05] {magoo} thanx all
[16:18] {dino} gn all