Wednesday, September 23, 2009

Sep 23 2009

Freeport, Bahamas conference - January 2010
Vad's sessions - 2 days, including live trading

We stayed inactive for the most part of the day but still did a few good trades not spoiled by couple stops. Notably, AIG short worked flawlessly. The rest was your normal garden variety HIG/PALM/WFC

Session Time: Wed Sep 23 00:00:00 2009

[07:55] {magoo} morning
[07:55] {nemo} comrade
[08:04] {magoo} am i here, crashed
[08:04] {nemo} .
[08:04] {nemo} such existential questions
[08:21] {Threei} good morning
[08:21] {nemo} :)
[08:21] {magoo} :)
[08:21] {Threei} wow
[08:21] {Threei} stop smiling, you are scaring me
[08:21] {nemo} it's just a couple of key strokes...I'm sticking pins in your voodoo doll as we speak
[08:21] {Threei} whew... OK, my world is back
[08:26] {Threei} LVS JP Morgan raises price target to $24 from $17 (19.27, 0.00, 0.00%)
[08:26] {Threei} (US) FDIC to meet on 9/29 to consider ways to replenish deposit fund (related XLF )
[08:26] {Threei} yeech
[08:27] {nemo} they're broke
[08:31] {magoo} news XLNX
[08:32] {Threei} 8:01:54 AM
[08:32] {Threei} Xilinx Inc Guides Q2 Rev +10% q/q (implies $413.6M v $391.6Me) (+2-6% q/q prior)
[08:32] {Threei} - Affirms Q2 gross margin 61%
[08:32] {Threei} - The increased sales guidance is primarily due to broad based strength across nearly all end markets and geographies.
[08:38] {Threei} CPST worth keeping eye on
[08:40] {cosmo} XLNX sees better times ahead...
[08:40] {Threei} sure... tunnel... light... train...
[08:41] {cosmo} oh geez
[08:41] {cosmo} thx for the warning
[08:41] {Threei} sprry cosmo, I am just very vulnerable this morning... had a shock
[08:42] {Threei} as soon as I said "good morning", both nemo and magoo smiled in response... you can imagine the horror
[08:42] {Threei} my heart is still pounding...
[08:43] {cosmo} i feel paranoid just thinking about it....
[08:43] {cosmo} :)
[08:43] {Threei} I knew you'd understand
[08:44] {nemo} yeah...I'm letting my hair grow..going to tie-die and Birkenstocks...considering becoming a vegetarian
[08:44] {Raven} sigh
[08:44] {nemo} mmmmmmhhhhh....the People's Republic of Massachusetts has finally gotten to me.
[08:45] {nemo} Guess I'll have to start reading that New Age stuff
[08:50] {Threei} (CH) PBoC's Zhou: SDR proposal was a response to the incorrect view that China's high savings rate and trade surpluses were causes of the financial crisis
[08:50] {Threei} ***Reminder: On Sept 23rd A US Official stated that President Obama and China's Hu discussed the need for more balanced global growth but did not discuss issue of US dollar's role as reserve currency
[08:55] {dino} gm all
[08:55] {nemo} :)
[08:55] {Threei} dino :)
[08:59] {cosmo} KERX
[08:59] {magoo} KERX
[08:59] {cosmo} :)
[09:01] {Threei} 8:31:42 AM
[09:01] {Threei} Keryx Biopharmaceuticals Inc Reports Results of Open Label Extension Study Examining Long-Term Use of Zerenex, for the Treatment of Hyperphosphatemia
[09:01] {Threei} - Results of the Open Label Extension (OLE) trial of Zerenex (ferric citrate) for the treatment of elevated serum phosphorous levels, or hyperphosphatemia, in patients with end-stage renal disease (ESRD) on dialysis. The OLE trial, conducted in Taiwan, enrolled 29 of the 37 Taiwanese patients that had completed the randomized, multi-center, multi-national (United States and Taiwan) dose-ranging Phase 2 study.
06[09:01] * nemo slaps lasertrev around a bit with a large trout
[09:02] {lasertrev} gm
[09:03] {nemo} stec might be woth a look too
[09:04] {cosmo} KERX needs to hold 3.10 imo
[09:10] {KSystems} Boo
[09:10] {nemo} Boesewicht
[09:10] {KSystems} schnarchnase
[09:10] {Threei} ks :)
[09:10] {nemo} lech....nevermind
[09:10] {KSystems} 3i :D
[09:13] {fernp} good morning everybody
[09:14] {nemo} fern
[09:14] {Threei} fern :)
[09:14] {nemo} stec broke resistance
[09:16] {nemo} hi lari :)
[09:16] {larisa} gm :)
[09:16] {KSystems} lari?
[09:16] {KSystems} now thats sweet
[09:17] {larisa} do not ask :)
[09:17] {nemo} :)
[09:17] {larisa} hi KS :)
[09:17] {magoo} whats on the watch ;list vad?
[09:17] {KSystems} hi...
[09:17] {KSystems} lissy
[09:17] {KSystems} :P
[09:17] {Threei} larisa :)
[09:17] {larisa} lol
[09:17] {Threei} (US) Treasury's Ramanathan: Gross US issuance in 2009 will be $7T (related EUR/USD TLT SHY )
[09:17] {nemo} lissy Borden had an axe...
[09:18] {Threei} anyone knows how 7T compares?
[09:18] {ese} good morning
[09:18] {nemo} dude
[09:18] {magoo} PALM
[09:18] {ese} dude
[09:18] {Threei} ese :)
[09:20] {dptl} good morning all
[09:21] {magoo} PALM news vad?
[09:22] {Threei} Palm, Inc Prices 20M share offering at $16.25/shr
[09:22] {Threei} - underwriters will also have a 30-day over-allotment option to purchase 3,000,000 additional shares of common stock from Palm at the public offering price. Upon the closing of the offering, Palm will receive net proceeds of approximately $313.1M, assuming no exercise of the underwriters over-allotment option.
[09:22] {Threei} - Expects to use the proceeds for working capital and general corporate purposes.
[09:22] {Threei} dp :)
[09:23] {Threei} Financial Accounting Standards Board (FASB) expected to approve new accounting rules today that could boost sales and profits reported by tech firms
[09:23] {Threei} - FASB is expected to approve rules today that would allow firms that sell products that include hardware and software (like smartphones) to book a larger portion of revenue upfront, versus the current rules under which the companies typically have to spread out the booked revenue over the expected lifetime of the product (e.g. two years for a smartphone).
[09:23] {Threei} - articles notes that firms that publicly supported the rule change include HPQ, CSCO, IBM, DELL, AAPL, PALM and XRX.
[09:24] {ese} aapl......Apple Inc Received approval to sell the iPhone in South Korea - South Korea amended the technical ban which had originally blocked the iPhone.
[09:24] {ese} hmmmmmmmm
[09:25] {Threei} ABK is still on watch for breakout on daily
[09:25] {Threei} PALM, on watch generally but no clear idea of the setup yet
[09:32] {nemo} palm holding nicely
[09:32] {nemo} so much for that
[09:32] {Threei} Long Setup: OPXA .25 break
[09:33] {nemo} missed
[09:33] {fernp} missed
[09:33] {ese} missed
[09:34] {Threei} Long Setup: KERX .30 breaK
[09:35] {Threei} if holding above .15
[09:36] {magoo} JAZZ movin
[09:36] {Threei} offer OPXA above .40
[09:37] {magoo} out .41 TY
[09:37] {Threei} hmmm
[09:37] {Threei} starts looking like momo
[09:38] {Threei} let's try to catch pullback
[09:39] {dino} hl l aipc .47
[09:40] {Threei} PALM
[09:40] {Threei} .55 long
[09:40] {Threei} if holding above .40
[09:42] {Threei} OPXA... feels like 5 if takes .65
[09:42] {nemo} is that a setup?
[09:43] {Threei} yes, just very risky
[09:43] {nemo} 1:1 palm
[09:43] {ese} l erts
[09:43] {ese} .24
[09:43] {Threei} Congressman Frank sees floor vote in the House on financial regulation reform bill in Nov
[09:43] {ese} out erts .34 +.10
[09:44] {Threei} pullback OPXA... this I like more than breakout
[09:45] {Threei} PALM 1:1
[09:45] {ese} watching this pullback in xlnx
[09:45] {fernp} ty Vad
[09:48] {Threei} crrrap
[09:49] {Threei} typed alert .40 break on OPXA
[09:49] {magoo} i hit .38
[09:49] {Threei} somehow never sent it
[09:49] {magoo} i got it teklepath
[09:49] {Threei} good
[09:49] {nemo} moth
[09:51] {cosmo} OPXA gonna test .66 hod
[09:51] {cosmo} soon
[09:53] {cosmo} i thought
[09:55] {nemo} thinkin' again cosmo?
[09:55] {cosmo} there's meds for that
[09:55] {nemo} liquid meds
[09:56] {nemo} Feds must not have the printing presses on this morning
[09:57] {magoo} xlnx bouncer vad?
[09:57] {Threei} Long Setup: HIG .70 break
[09:57] {dino} avtr
[09:58] {nemo} stop .55
[09:59] {Threei} invalidated
[09:59] {dino} aipc stopped -.27
[10:00] {dino} v sm, v risky thin, s amn .67
[10:02] {nemo} wow..rimm
[10:02] {dino} stec gap fill
[10:04] {dino} amn to flat
[10:07] {dino} stopped flat
[10:08] {fernp} HIG again Vad?
[10:08] {Threei} worth a try
[10:09] {ese} was just looking at that dino stec
[10:09] {dino} agco hl l .25
[10:10] {Threei} ACAS...
[10:10] {dino} should've hit open gap in stec
[10:10] {Threei} noty sure if this break is worth the risk
[10:11] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET
[10:11] {Threei} **consensus expectations:
[10:11] {Threei} Crude: -1.4Me
[10:11] {Threei} Gasoline: +500Ke
[10:11] {Threei} Distillate: +1.5Me
[10:12] {ese} ya
[10:12] {ese} lots of stec possibilities from here though
[10:13] {ese} higher low pullback....break of .53
[10:13] {dino} lord obama on tv
[10:13] {Threei} well, for a change he is lecturing someone else
[10:13] {ese} and with a 39 price tag target......
[10:15] {ese} l stec 51
[10:15] {nemo} bad fill
[10:15] {dino} arj thin hl l .15
[10:15] {ese} nope...fill was ok for me
[10:16] {Threei} that's nemo's (lame) attempt at humor, ese... he means as if you got filled 51, not .51... clever eh?
[10:17] {magoo} HGSI upgrade
[10:17] {nemo} no...I had a bad fill, and stopped
[10:17] {dino} aipc hl l .22
[10:19] {Threei} CVM Hires Clinical Research Organization for Clinical Study With Hospitalized H1N1-Infected Patients
[10:19] {Threei} - In order for FDA to fully consider that next-stage clinical trial to evaluate LEAPS-H1N1 treatment... (1.79, -0.09, -4.79%) more...
[10:19] {Threei} fluff
[10:21] {Threei} HIG stop under .60
[10:21] {magoo} exit target hig?
[10:21] {Threei} feels like capable of more than scalp
[10:21] {Threei} half out
[10:22] {ese} out stec .65 +.14
[10:22] {Threei} scalpers are scalpers of course
[10:22] {dino} gj
[10:23] {dino} you say that w/such disdain 3i
[10:23] {Threei} lol
[10:23] {ese} tks.....well.....i guess so
[10:24] {ese} ahhhh it's vad your talking about pheeeeeewwwww
[10:25] {Threei} 5 min till oil numbers
[10:29] {nemo} hig break of .81?
[10:29] {ese} l xlnx .87
[10:30] {Threei} *DOE CRUDE: +2.85M V -1.4ME; GASOLINE: +5.4M V +500KE; DISTILLATE: +2.96M V +1.5ME; CAPACITY UTILIZATION: 85.5% V 85.9%E.
[10:30] {nemo} whoa
[10:30] {ese} blasted market....and xlnx being the market follower that it is....sheeeeeesh
[10:31] {dino} crikey
[10:31] {nemo} watch out for that stingray
[10:31] {nemo} amr likes the news
[10:31] {Threei} Long Setup: UAUA
[10:31] {Threei} awww
[10:31] {Threei} late
[10:31] {dino} aipc to .52
[10:32] {nemo} glad I didn't buy gas yesterday :)
[10:33] {Threei} EUR/USD USD firms as build in DOE inventories weighs upon Nov Crude futures - dealers
[10:33] {Threei} - EUR/USD at 1.4765
[10:33] {Threei} - Nov NYMEX Crude futures off $2.40 at $69.35/barrel
[10:33] {dino} out aipc +.28
[10:33] {Threei} hah... so it;s now the other way around?
[10:33] {Threei} oil drives USD?
[10:33] {nemo} it's early
[10:33] {Threei} I mean this comment
[10:34] {nemo} oh...another headline
[10:34] {nemo} oooohhh...yrcw
[10:35] {Threei} yeah... 4.50 break was it
[10:35] {Threei} missed
[10:35] {nemo} aig dead today...only traded 23 mil shares so far
[10:35] {Threei} EUR/USD IMF"s Strauss Kahn: USD will remain reserve currency; is the most reliable during crisis
[10:35] {nemo} that says a lot for other currencies
[10:35] {magoo} lvs crushed
[10:36] {Threei} yeah, that was always my pont in all those currency debates
[10:36] {Threei} what is firmer, more stable, etc?
[10:36] {Threei} rouble?
[10:36] {Threei} tougrick?
[10:36] {nemo} German Mark
[10:37] {ese} out xlnx .69 -.18 &^%^%$&^%&^%&^
[10:38] {dino} pins & needles, needles & pins...
[10:38] {dino} ugh amn
[10:39] {Threei} anyone went for UAUA on pillback?
[10:39] {dino} watching syna, xlnx, clw, pnra
[10:41] {dino} stec too
[10:41] {Threei} today's selling is different
[10:41] {fernp} out HIG
[10:42] {Threei} much more systainable than what we had prior
[10:42] {nemo} steady, not sporadic, and no buying to speak of
[10:42] {Threei} maybe this market really decided to settle down finally
[10:43] {dino} next week 3i
[10:43] {nemo} aig doing just what it did yesterday
[10:45] {ese} do you mean in bear mode vad
[10:46] {ese} or just stablize where it is?
[10:46] {Threei} I hope for some serious sizeable pullback
[10:46] {dino} liwa
[10:47] {nemo} whell, palm has had a good pullback
[10:47] {Threei} I am talking about general market
[10:48] {nemo} yes...but I was noting the palm pullback
[10:48] {Threei} it becomes harder and harder to find reliable plays
[10:49] {ese} agreed
[10:49] {Threei} RIMM Hearing vauge chatter of possible secondary offering
[10:49] {Threei} *Note: Firms is scheduled to report Q2 earnings after the close of Sept 24 (85.38, +0.52, 0.61%)
[10:50] {dino} pnra hl l .03
[10:52] {dino} rimm secondary, why?
[10:53] {Threei} gotta ask guys in bunker
[10:53] {dino} ahh
[10:53] {nemo} cash
[10:53] {Threei} they went through small bios list twice by now,
[10:53] {dino} sm wide risky l .94 clw
[10:53] {Threei} so they start coining things randomly
[10:59] {dino} xlnx hl l .74 stop .49
[11:00] {Threei} Gadhafi speaks now
[11:01] {KSystems} about what?
[11:01] {Threei} I guess, peace and love
[11:01] {Threei} and flowers
[11:01] {KSystems} drugs?
[11:02] {Threei} and autumn colors
[11:02] {larisa} SVA
[11:02] {magoo} SVA nuts
[11:03] {larisa} must be news, woke up after being flat
[11:03] {Threei} nothing that I see
[11:11] {Threei} what's with SNIC today
[11:11] {dptl} got to go...have a good rest of the day all.....see ya tomorrow
[11:11] {Threei} take care dp
[11:12] {dino} stec
[11:12] {Threei} KERX Files $40M shelf (2.90, +0.54, 22.88%)
[11:12] {Threei} lol
[11:12] {Threei} didn't take long
[11:16] {Threei} watching WFC as short candidate
[11:16] {Threei} prefer a bounce
[11:16] {Threei} to short near resistance
[11:20] {nemo} mos dino
[11:21] {magoo} vad..was there upgrade LVS today?
[11:21] {Threei} yes
[11:22] {Threei} LVS JP Morgan raises price target to $24 from $17
[11:22] {Threei} - also raised nubmers in MGM, price target goes to $16
[11:24] {magoo} ty
[11:26] {Threei} WFC nearong resistance
[11:29] {magoo} wheres the "right" resistance?
[11:29] {Threei} .20
[11:30] {Threei} next is .30
[11:30] {magoo} nearong
[11:30] {Threei} so I am trying to find an entry near .20 with stop above .30
[11:30] {Threei} hey UN Security Council is terrorism organization
[11:31] {Threei} I just heard it on TV
[11:31] {Threei} must be true
[11:31] {ese} l stec ..21
[11:31] {nemo} must be that ex-green czar
[11:31] {ese} sorry late talking to my brother in TO
[11:32] {nemo} not during trading hours dude!
[11:32] {ese} out stec .33
[11:32] {ese} +.12
[11:32] {fernp} gj
[11:32] {dino} gj
[11:33] {ese} i post he's still talking to me on the costs me money
[11:33] {Threei} see that OFF button on the phone?
[11:34] {nemo} you can disconnect it quite easily
[11:34] {ese} he's got some cocamamie system that he's running by me based on hourly charts.......he's driving me nuts
[11:34] {nemo} stec again
[11:35] {dino} clw stop to .50
[11:35] {nemo} kinda' makes sense...he is your brother
[11:35] {ese} oddly though.....he reads this blog at the end of the day so that my post to you guys will get me into trouble
[11:35] {nemo} have the janitor edit hit
[11:35] {nemo} it
[11:36] {dino} lol i can relate
[11:37] {dino} clw to .66expect slip
[11:38] {magoo} look at the volume opf dinos CLW
[11:38] {nemo} off the charts
[11:38] {dino} huge
[11:38] {nemo} we're bad
[11:38] {dino} up .76 on it
[11:39] {dino} to .75
[11:39] {Threei} ese... it can be dited out... for a small adminuistrative fee...
[11:39] {nemo} so, should we call ese's brother names?
[11:39] {Threei} just $99.98 per symbol
[11:40] {nemo} including spaces?
[11:40] {dino} wwww
[11:40] {Threei} nemo just cost you about 2K in one line {G}
[11:40] {nemo} anything to help Vad
[11:40] {Threei} I am not sharing
[11:41] {ese} nothank you vad....i want him to read it......he may then get the message......stop bugging me ha ha ha ha ha.....this could mean some family disharmony
[11:41] {nemo} Did I ask?
[11:41] {dino} out clw ave .77, +.83
[11:41] {nemo} nice dino
[11:41] {Threei} WFC forms a range
[11:41] {ese} hey nemo start calling my brother names.....his name is gary....go from from there
[11:41] {Threei} .10 - .20
[11:42] {nemo} Gary the fairy
[11:42] {dino} ty
[11:42] {ese} good one
[11:42] {nemo} I know...breathe...count...breathe again
[11:45] {nemo} aig might top out around here if it doesn't break .68
[11:46] {nemo} bcrx showing some life
[11:48] {dino} ntri
[11:49] {dino} whr
[11:49] {Threei} NTRI Hearing downgraded to Neutral rating at a Boutique firm[Boenning] (timing uncertain) (16.90, -1.08, -6.01%)
[11:55] {Threei} GOOG CEO Schmidt: The worst of the recession is already over - interview (396.82, +0.53, 0.13%)
[11:55] {Threei} no setup on WFC
[11:57] {magoo} (396.82,
[11:57] {magoo} its 500
[11:58] {Threei} GOOG CEO Schmidt: The worst of the recession is already over; seeing improvement in the US and other regions - interview
[11:58] {Threei} - expecting to purchase one small company per month; as per 'normal procedures'
[11:59] {Threei} lol... interesting plan
[11:59] {Threei} company a month
[12:00] {patience} hold out for a million at least vad in your negotiations with them
[12:00] {Threei} AIG US Treasury's Geithner: Board of AIG has seen a transformation (47.37, +1.57, 3.43%)
[12:01] {Threei} yeah, they need me
[12:01] {Threei} like fish needs umbrella
[12:01] {fernp} HIG breaking .80
[12:01] {nemo} I thought that was a bicycle
[12:01] {Threei} that was mermaid
[12:02] {nemo} Actually Gloria Steinem made the comparison in the hey day of Women's Lib
[12:06] {dino} stec bounce time
[12:07] {nemo} maybe aig short time
[12:07] {Threei} .10 break?
[12:08] {nemo} you asking or telling? that was my thought
[12:08] {dino} pnra stopped -.30
[12:08] {Threei} stop above .30
[12:12] {magoo} u like that AIG short still? i kinda think up
[12:12] {nemo} die aig
[12:12] {dino} xlnx out .91 +.21
[12:13] {dino} .22
[12:13] {Threei} {AIG} you don't like me :(
[12:14] {Threei} 1:1
[12:14] {magoo} good one
[12:14] {nemo} broken clock
[12:15] {nemo} stop to .15?
[12:15] {Threei} .20, IMO
[12:15] {nemo} yeah, that was my next thought
[12:16] {Threei} hey
[12:16] {nemo} pres on tv?
[12:16] {Threei} Gadhafi says, no one interfered in your civil war,
[12:16] {Threei} so let Iraqis and Afghanis kill each other if they want
[12:17] {nemo} well..iraq's got oil, an Afghanistan is part of a Iran encirclement strategy
[12:20] {Threei} now he is into JFK assasination
[12:20] {Threei} MLK now
[12:20] {Threei} I start liking the guy
[12:20] {nemo} aig looking long over 20
[12:20] {Threei} as soon as he adds topic of UFO to his speech, I will be his total fan
[12:21] {fernp} lol
[12:21] {nemo} Reagan gave him one helluva wake up call back in the 80's
[12:22] {larisa} MEE 30.40 bottom, STEC 30.40 bottom. whats right with this number today ? :)
[12:22] {Threei} ugh..he got sidetracked by Grenada
[12:23] {Threei} just when little green men were on agenda
[12:24] {Threei} WFC dropped off .30... couldn't find an entry
[12:25] {nemo} now you have an H&S
[12:25] {Threei} hmmm
[12:26] {Threei} looked in the mirror
[12:26] {Threei} you are right
[12:26] {nemo} oly problem there is support @ .16 and .13
[12:27] {nemo} by the way, look at the pattern on spy and q's
[12:27] {Threei} breakout...
[12:27] {nemo} or double top
[12:27] {Threei} can't make up my mind, break or failure
[12:27] {Threei} double top??
[12:27] {dino} stec hl l .00
[12:27] {nemo} trade what you see, not what you think
06[12:28] * nemo slaps nemo around a bit with a large trout
[12:28] {Threei} this level was tested at least 5 times
[12:28] {nemo} I'm looking at the last 90 minutes
[12:28] {dino} azm
[12:28] {nemo} on 1 minute chart
[12:28] {Threei} yeah, so?
[12:28] {Threei} test is a test is a test
[12:29] {dino} hammer theory vad
[12:29] {Threei} meaning, he sees nail in everythjing? :)
[12:29] {nemo} "dead people"
[12:29] {dino} no, hammmer to ice pounding eventually gets through
[12:30] {nemo} fyvm dino
[12:30] {Threei} :)
[12:31] {Threei} hey, he is on vaccinations now
[12:31] {Threei} and says viruses are made by "capitalist comoanies" so they profit from their vaccines
[12:31] {Threei} lordy... how did I live never hearing him speak??
[12:33] {dino} who are you quoting?
[12:33] {Threei} gadhafi
[12:33] {Threei} oh and in case you didn't know: Arabas protect Israel from West
[12:33] {dino} roflol
[12:33] {Threei} turn on CNN
[12:34] {Threei} this is better than Seiflield
[12:34] {dino} rather not, these azzholes should not get airtime
[12:34] {nemo} lvs flatlined
[12:36] {Threei} he is done
[12:36] {nemo} will probably be on Youtube
[12:36] {Threei} too long to sit and watch.. if someone makes "best of"... then yes
[12:37] {dino} snda
[12:37] {Threei} so far breakout is rejected
[12:37] {nemo} I know the feeling :(
[12:38] {Threei} Preview: Treasury's $40B 5-year note auction results due just after 1PM ET
[12:38] {Threei} - $40B auction size is a $1B increase from Aug and another record
[12:41] {Threei} AIG didn't retreat much with market drop
[12:42] {nemo} no but still trending down
[12:42] {nemo} .32 is 200 period moving average
[12:43] {Threei} I don't see it trending down
[12:43] {Threei} it broke donwtrend
[12:43] {Threei} hasn't estabilshed uoptrend yet
[12:44] {Threei} but if breaks .50 with market help, I'd say up from there'
[12:44] {nemo} I agree...which...upon review...should make you take pause
[12:45] {Threei} that's OK, I am kind of prepared
[12:45] {Threei} yesterday's event pretty much prepared me for anything
[12:45] {Threei} you will find it hard to believe, I certainly do,
[12:45] {nemo} moth brain me...which event?
[12:45] {Threei} but it's truth:
[12:46] {Threei} yesterday, around 7:55 PM,
[12:46] {nemo} oh men?
[12:46] {Threei} my wife said
[12:46] {Threei} yeah, I agree with you
[12:46] {nemo} whoa
[12:46] {nemo} surprised you made it in this morning
[12:46] {Threei} so... if you think you can suprise me...
[12:47] {Threei} ok
[12:47] {Threei} Long Setup: AIG .50 break if holding .30
[12:48] {Threei} and if I know anything about magoo, he is already in
[12:48] {nemo} me too
[12:49] {magoo} at ,37
[12:49] {nemo} .39
[12:49] {Threei} lol
[12:50] {Threei} (CA) Canadian PM Harper: Canada will continue lowering taxes during recovery (related USD/CAD EUR/CAD CAD/JPY )
[12:50] {Threei} I love our PM
[12:52] {Threei} market neared break level again and downticked off it again
[13:01] {Threei} - indirect bidders take 44.8% of competitive bids
[13:02] {dino} csco l .00
[13:08] {Threei} I think they'll wind down those auctions before I find out what those figures mean aND HOW THEY IMPACT THE MARKET
[13:08] {Threei} the only consolation is, larisa is much smarter than I am and she doesn't know either
[13:08] {magoo} out aig
[13:08] {magoo} no work
[13:09] {Threei} downside of aggressive entires
[13:09] {Threei} I play them a bit differently though
[13:10] {Threei} I don't widen stop... tigher stop is one of their advantages, and widening it kind of negates it
[13:10] {Threei} .30 was the support
[13:10] {Threei} 120 cents stop would be negligible
[13:10] {Threei} 10
[13:11] {ese} dino are you still long stec.....i went long with you at .05....i'm still hangin in there
[13:13] {larisa} 31.05?
[13:13] {ese} yes
[13:13] {larisa} k
[13:14] {ese} i think dinos onto something here......i think it's gonna make a move to the days high before or at the end of the day
[13:14] {magoo} how many shares ESE?
[13:15] {ese} 6k
[13:15] {ese} so far
[13:15] {ese} if it starts to look strong i'm gonna go some more
[13:16] {dino} zoomd?
[13:16] {dino} yes es
[13:16] {ese} still in?
[13:16] {magoo} thats my bid .88
[13:17] {ese} nice
[13:17] {ese} better position than mine
[13:18] {ese} what the hell my quotes are all fine
[13:19] {nemo} whoa stec dropping like a stone :)
[13:19] {ese} stec?
[13:19] {Threei} 31 x 31.01
[13:19] {Threei} uoticking
06[13:19] * larisa slaps nemo around a bit with a large trout
[13:19] {nemo} hehehe
[13:19] {ese} tks
[13:19] {ese} nemo.....i'll get ya for that
[13:20] {ese} stec?
[13:21] {nemo} .02
[13:21] {ese} oh no ok fine now
[13:21] {ese} tks
[13:21] {Threei} can't believe we missed YRCW
[13:22] {nemo} hey dino, remember when I asked you about MOS @ 50.50
[13:22] {dino} yes
[13:23] {dino} missed alot of them today
[13:23] {nemo} sorry
[13:23] {magoo} we??
[13:23] {magoo} i took it
[13:23] {dino} but you know what they say....
[13:23] {nemo} what, mos?
[13:23] {ese} we???
[13:23] {magoo} yourcow
[13:23] {ese} just kidding
[13:23] {magoo} out 54 tho
[13:23] {nemo} oh
[13:23] {dino} its a good day to die, and the days not over yet
[13:24] {nemo} ok Bu
[13:24] {magoo} yesterday i died..i wanna live today
[13:24] {nemo} I've got a slow bleed going today
[13:24] {magoo} AIG crushed my anus yesterday
[13:25] {nemo} you ever hear the joke about the crocagator?
[13:27] {ese} mags you stec position is looking real good
[13:27] {ese} +.20 so far
[13:27] {magoo} trades by apptmt tho
[13:28] {magoo} ill have to sit here all day...WAIT...i do that
[13:28] {ese} lol
[13:31] {nemo} believe this? aig in a .40 range for the last hour
[13:32] {ese} totallly believable with this market
[13:32] {nemo} kinda' tongue in cheek
[13:32] {ese} ohhhhh ahhhhhhh
[13:37] {dino} sheehs, ntes, snda, pwrd
[13:38] {nemo} chinese stocks
[13:40] {Threei} AIG does it
[13:41] {magoo} grabbed 48
[13:42] {magoo} .48 that is
[13:42] {Threei} get out
[13:42] {Threei} 50 cents in couple min
[13:43] {magoo} out .97 on 4k
[13:43] {Threei} wtg
[13:43] {magoo} ty
[13:43] {magoo} your spot
[13:44] {nemo} going to .50?
[13:46] {Threei} Preview: FOMC rate decision and statement due out around 2:15pmET
[13:46] {Threei} **rates are expected to remain on hold again at 0.25% though some speculation has started brewing this week that the committee might start to drop hints about when rates will start to rise again in order to head off inflation concerns. One ING economist today called speculation about the FOMC raising rates "madness," noting markets will react as soon as the Fed starts hinting about the timing.
[13:46] {Threei} There is also more credible speculation that the Fed could decide to alter the $1.25T MBS program today, either stretching it out as it did with the Treasury purchasing program (a de facto form of easing), or altogether reducing the MBS program as was discussed according to the minutes of the August FOMC meeting.
[13:46] {Threei} The general consensus is that the FOMC will stay conservative and hold off on any significant changes today, perhaps further noting signs of recovery while maintaining its pledge to hold rates at "exceptionally low" levels for "an extended period." This path would build on recent comments from the Fed's Bernanke who noted that the recession is "technically" over but that the economy will "feel very weak for some time."
[13:47] {Threei} Note there was also a report circulating this week that the Fed was talking with bond dealers about using reverse repos to drain some of the cash the Fed has pumped into the economy.
[13:48] {Threei} told you that was first aign of exit strategy being pondered
[13:49] {Threei} if they really possess tools to withdraw injected money, whole generally accepted idea of inflation ahead may turn out false
[13:56] {ese} have to sign out...see you all tomorow...onwards and upwards with stec.....good luck with it mags and dino
[13:56] {dino} ty es cya
[13:57] {ese} cya
[13:57] {dino} ok, rally into mtg, then up to +95; then drop to lod, then close up 90
[14:02] {Threei} AIG
[14:04] {dino} tbt tlt
[14:05] {dino} ebix jump
[14:11] {patience} nope, too many open positions
[14:11] {dino} seems i am wrong
[14:12] {nemo} you play that Vad? aig
[14:13] {dino} mnkd
[14:13] {Threei} not inti annoucnement
[14:14] {nemo} tlt dropping like a stone
[14:14] {nemo} a rubber ball...kinda'
[14:16] {Threei} FOMC HOLDS RATES AT 0.25%
[14:17] {Threei} extends MBS and Agency purchase programs to March 31; maintains size
[14:17] {Threei} Markets have improved further
[14:17] {Threei} - Unanimous vote at 10-0
[14:20] {dino} out csco +.16
[14:21] {dino} out stec +.37
[14:22] {larisa} gj
[14:22] {fernp} out CSCO too TY dino
[14:22] {dino} out agco +.10
[14:23] {dino} :)
[14:47] {dino} .
[14:52] {Threei} .short aig .45
[14:52] {Threei} Short Setup: AIG .45
[14:52] {Threei} stop above .60
[14:53] {nemo} blew by
[14:54] {dino} those china stocks are unstoppable
[14:55] {Threei} 1:1
[14:55] {Threei} 1:2
[14:56] {Threei} 1:3
[14:56] {Threei} out
06[14:56] * Threei slaps nemo around a bit with a large roll of cash
[14:56] {nemo} congrats
[14:57] {Threei} wow... 1:4
[14:57] {Threei} what kept you from doing the same?
[14:57] {Threei} 15 cents stop
[14:57] {Threei} how often AIG gives such chance
[14:57] {nemo} every day
[14:57] {Threei} heh
[14:57] {Threei} good luck finding it
[14:58] {nemo} not me...mags
[14:58] {Threei} with 15 cents stops??
[14:58] {nemo} true
[14:58] {Threei} whatcha talking about willis
[14:58] {nemo} that's funny coming out of you
[15:01] {Threei} XOMA To Develop Therapeutic Antibody For H1N1 And H5N1 Influenza Viruses Under $2.2 M U.S. Government Program Managed By SRI Intl (31.70, +0.64, 2.06%)
[15:01] {dino} bwld
[15:01] {dino} whr
[15:02] {dino} mnkd
[15:04] {Threei} wow XOMA
[15:14] {nemo} Vad...getting that .15 range again....
[15:15] {Threei} yeah but not sure about direction
[15:15] {nemo} yeah
[15:15] {nemo} too many times to the cookie jar
[15:16] {dino} ok, wev had our +85 (wanted +95), now to test lod, then bounce
[15:17] {nemo} $ strengthening
[15:19] {fernp} good evening everybody. see u all tomorrow
[15:19] {Threei} take care fern
[15:20] {dino} bwld hl l .09
[15:22] {Threei} V CEO: I have no data that suggests anything is getting any better (74.70, +0.29, 0.39%)
[15:22] {Threei} what??
[15:22] {Threei} he sees no green shoots??
[15:22] {Threei} everyone else does
[15:22] {nemo} kwik...give him the kool aid
[15:22] {Threei} oh, they just did:
[15:23] {Threei} although data also shows things are not getting worse - CNBC
[15:23] {nemo} call him a Stepford CEO
[15:23] {Threei} - Economy is getting better, we're off the bottom.
[15:23] {Threei} see?
[15:23] {nemo} so....we're in remission?
[15:25] {dino} whr hl l .45
[15:26] {Threei} Long Setup: AIG .80
[15:26] {Threei} if stays above .60
[15:27] {Threei} Financial Accounting Standards Board (FASB) approves new accounting rules for revenue recognition at tech firms; vote 5-1 (as expected) (related AAPL PALM HPQ XRX DELL IBM )
[15:30] {Threei} Market Internals update at 3:30pmET
[15:30] {Threei} - NYSE volume 900M shares, about 5% above its three-month average; decliners lead advancers by 1.5:1.
[15:30] {Threei} - NASDAQ volume 2.18B shares, about 20% above its three-month average; decliners and advancers are about even.
[15:30] {Threei} - VIX index -1.5% to just below 23.00
[15:31] {dino} ok bounce time
[15:31] {Threei} yeah, it's time
[15:31] {Threei} Long Setup: AIG .60 break
[15:31] {Threei} if stays above .40
[15:34] {Threei} no go
[15:34] {dino} lod
[15:34] {magoo} im thinking yesterdays low vad
[15:34] {Threei} 45.50s?
[15:35] {magoo} yea
[15:35] {larisa} if gets to 45s, will test 45 , imo. better not get there
[15:35] {Threei} grrr
[15:35] {Threei} shake
[15:36] {Threei} dunno mags... feels like bounce to me
[15:36] {nemo} 11 out of last 12 times FOMC meetings have been positive...odds were against this one
[15:38] {magoo} worste scenario
[15:38] {magoo} bopth right
[15:39] {Threei} lol
[15:41] {Threei} who went for second try, get out here
[15:41] {nemo} mags, you out yet
[15:46] {magoo} i just shorted it
[15:46] {nemo} looks right
[15:46] {magoo} cant believe it didnt lose 46\
[15:46] {Threei} yup, good move
[15:47] {magoo} short palm too..any rread vad
[15:47] {nemo} look at the $ getting stronger
[15:47] {Threei} PALM, direction is right but don't count on much IMO
[15:50] {Threei} cover magas
[15:51] {nemo} wow...what a sell off
[15:51] {nemo} guess we'll have to start playing the short etfs :)
[15:55] {Threei} I really hope pullback starts
[15:58] {Threei} CBAK... wth
[15:58] {Threei} no news
[16:00] {Threei} PALM Discloses Elevation Partners and McNamee buy $37M of its 20M share stock offering - filing
[16:00] {Threei} huh?
[16:00] {Threei} buy $37M of its 20M share stock offering?
[16:00] {larisa} bye all
[16:00] {Threei} larisa
[16:00] {Threei} wairt
[16:01] {Threei} buy my $100 for $150, will ya?
[16:01] {Threei} Elevation Partners and McNamee did just that for PALM
[16:01] {larisa} if you buy mine 500 for 1000
[16:01] {lasertrev} good night all
[16:01] {Threei} sigh... see... told ya, she is smart
[16:01] {Threei} thank you all
[16:01] {Threei} have a good evening
[16:02] {Threei} see you tomorrow
[16:02] {Threei} VVUS Announces Closing of Public Offering and Exercise of Over-Allotment Option
[16:02] {dino} hmmm almost a 200 point drop from highs
[16:09] {dino} gn all