Monday, October 26, 2009

Oct 26 2009

Market finds the direction it seems - easier day although far from stellar still. Shorts work better, bounces are more readable too.

Session Start: Mon Oct 26 01:04:28 2009

[08:19] {strider} .
[08:30] {Threei} Good thing I haven't made any bets with Larisa on AMZN for today
[08:31] {nemo} yeah..up
[08:35] {ese} GM
[08:35] {Threei} ese :)
[08:35] {nemo} Ford
[08:36] {cosmo} jeep
[08:36] {nemo} AMC
[08:36] {ese} amzn was one amazing run friday thats for sure
[08:37] {nemo} yeah...magoo must be off island hunting
[08:40] {cosmo} 'puter switched to Standard Time
[08:41] {nemo} next week
[08:41] {nemo} well, for us anyway
[08:41] {cosmo} for the people...yea
[08:46] {cosmo} SUPG: SuperGen and GSK to Collaborate on the Discovery and Development of Novel Epi
[08:46] {cosmo} genetic Therapeutics ( BusinessWire )
[08:46] {ese} somebody please make it stop........patience......the rain.....the rain
[08:47] {Threei} this week should be sunnier
[08:48] {Threei} probably in preparation for that Olympic torch relay
[08:48] {Threei} if you need to drive somewhere on Friday, forget it
[08:48] {Threei} city will be clogged
[08:49] {ese} now that should be rained my tax dollars and yours vad wasted
[08:49] {Threei} well, I am not wasting my time additionally by joining anti-Olympic protests :)
[08:50] {Threei} I am taking it as hurricane... nothing I can do about it
[08:50] {ese} true
[08:50] {Threei} they will waste more by doing that unneeded bridge replacxment too
[08:51] {Threei} so government is wasteful... sun rises on the East...
[08:51] {ese} ahhhhh've just made my week
[08:52] {ese} and just like pee...........this too shall pass
[08:52] {Threei} really? well, I can add... airport interchange as designed right now is a disaster waiting to happen
[08:52] {ese} haven't seen that one yet....whats the deal there
[08:52] {Threei} VVUS some enthusiasm
[08:53] {Threei} upgrade, and probably ARNA sympathy
[08:53] {ese} noticed arna
[08:54] {ese} whats with this airport interchange
[08:55] {Threei} proposed design of the interchange, ese... needlessly overcomplicated, IMO... potntially very dangerous spot
[08:55] {Threei} wow VVUS
[08:55] {Threei} upgrade by obscure firm can do that to it?
[08:56] {ese} indeed look at it go.....just from an upgrade......
[08:57] {ese} same old.....somebodey knows something
[09:02] {Threei} LAVA Selected by Mellanox Tech for 40-nm multimillion-gate communications ICs (2.38, 0.00, 0.00%)
[09:04] {lasertrev} gm
[09:04] {Threei} trev :)
[09:08] {strider} gm everyone.
[09:08] {Threei} strider :)
[09:09] {strider} 3i:)
[09:14] {ese} bcrx as care sector today seems like a good place to hang
[09:15] {Threei} you mean bio
[09:15] {ese} yes
[09:15] {Threei} BCRX is probably responing to this:
[09:15] {Threei} Saturday, October 24, 2009 9:34:52 PM
[09:15] {Threei} President Obama declares 46-state swine Flu outbreak a national emergency - NYT
[09:15] {Threei} - The White House stated late Saturday is "not a response to any new developments."
[09:15] {Threei} - Analysts view the move as administrative, allowing hospitals to set up temporary remote facilities, such as at a local armory or another hospital, to seperate H1N1 cases for treatment. Prior to this declaration if a hospital shipped a patient offsite, it would be refused reimbursement for services provided.
[09:15] {Threei} - H1N1 has been reported to be widespread in 46 states, which officals have deemed equal to the peak of a normal flu season.
[09:15] {nemo} hi lari
[09:16] {larisa} gm :)
[09:16] {Threei} larisa :)
[09:16] {ese} laris
[09:16] {larisa} :)
[09:17] {ese} in your own words does it feel to be loved and welcomed ehhhh
[09:18] {larisa} in the morning I only want my coffee :)
[09:19] {ese} messaged received and noted......
[09:19] {ese} too funnny
[09:19] {larisa} :)
[09:20] {nemo} don't forget guys...if it weren't for them, we'd still be in The Garden of Eden
[09:21] {cosmo} them?
[09:21] {ese} hold on there buba looey.........i represent that remark
[09:21] {nemo} women
[09:21] {cosmo} hmmm
[09:23] {cosmo} i thot it was the snakes
[09:24] {ese} vvus....retrace
[09:25] {nemo} Dino's back
[09:26] {Threei} BCRX still going
[09:27] {ese} yup
[09:27] {nemo} nope
[09:28] {dino} gm all running behind
[09:28] {ese} now retracing
[09:28] {Threei} dino, welcome back
[09:28] {ese} dino!!!!!!!
[09:28] {ese} we tried to do some trades in your honor last week......
[09:29] {dino} thx all, and es appreciate the thought
[09:29] {Threei} VVUS and BCRX are on watch so far
[09:31] {Threei} Long Setup: VVUS 10 break
[09:31] {Threei} stop under .90
[09:31] {strider} already over 10
[09:32] {ese} in .00
[09:32] {dptl} good morning
[09:32] {Threei} dp :)
[09:32] {Threei} missed BCRX .90
[09:36] {Threei} no go VVUS
[09:36] {ese} vvus stopped ..86 -.14
[09:37] {strider} same here
[09:38] {Threei} BCRX much better pullback now
[09:39] {Threei} AMZN new highs... where is magoo
[09:39] {nemo} hunting?
[09:39] {fernp} Good morning everybody
[09:39] {Threei} fern :)
[09:40] {dino} mrvl l sm .00
[09:41] {dino} late sorry
[09:41] {nemo} golf brain
[09:41] {Threei} HIG
[09:41] {Threei} watching for double bottom
[09:42] {dino} lol
[09:42] {ese} l bcrx .12
[09:43] {ese} out brcx .17 +.05
[09:45] {KSystems} morning
[09:45] {Threei} Long Setup: HIG .70 break
[09:45] {nemo} Tag
[09:45] {Threei} if stays above .60 for scalpers
[09:45] {Threei} above .55 for day traders
[09:45] {Threei} ks :)
03[09:46] * Retrieving #discussions modes...
[09:46] {fernp} out TY
[09:46] {Threei} 1:1 for scalpers
[09:46] {Threei} 1:1 for day traders
[09:47] {Threei} BCRX consolidates
[09:47] {Threei} mom candidate
[09:47] {Threei} momo
[09:48] {Threei} larisa, if I correct it quickly it dfoesn't count, right?
[09:48] {Threei} doesn't
[09:48] {nemo} bcrx volume up 1200%
[09:48] {larisa} :)
[09:48] {Threei} for momo players:
[09:48] {Threei} BCRX long .25 break
[09:48] {Threei} risky as hell
[09:49] {Threei} 11.50 should be easy if momo holds
[09:50] {Threei} pullback entry is preferrable as always on this kind
[09:50] {Threei} HIG, daytraders feel free to exit in full
[09:50] {dino} mrvl to b/e
[09:50] {Threei} +.40
[09:52] {dino} gj
[09:53] {dino} mrvl to .20
[09:54] {dino} out mrvl .31, +.31
[09:55] {fernp} BCRX lost momo, no?
[09:55] {Threei} hard to tell
[09:55] {Threei} they are heavy breathers
[09:55] {nemo} hig
[09:55] {fernp} then this is a good pullback
[09:57] {nemo} guess the market wants back what it gave up on Friday
[09:58] {Threei} AIG...
[09:59] {nemo} amzn keeps motoring higher
[09:59] {Threei} it'll never sto[
[09:59] {Threei} stop
[09:59] {nemo} Lari
06[10:00] * nemo slaps Threei around a bit with a large copy of "Maavis Beacon teaches typing"
[10:00] {Threei} AIG exploded before I could type alert
[10:00] {nemo} where would the stop have been
[10:00] {ese} jnpr L .51
[10:01] {Threei} stop under .40 ese?
[10:01] {ese} .45
[10:01] {nemo} pivot is .55
[10:02] {ese} sorry .42
[10:03] {dino} intc sm l .95
[10:04] {ese} out jnpr .57 +.06
[10:04] {Threei} SOHU... will be interesting at some point
[10:04] {Threei} no play yet
[10:04] {Threei} your kind dino
[10:05] {ese} except that they didn't beat with earnings this morning
[10:06] {magoo} we;mewrjo;j;sr;ms
[10:06] {Threei} I'll take it as good morning
[10:06] {dino} smlc?
[10:07] {nemo} It's morse code for "I don't know how to type."
[10:07] {magoo} u got that right
[10:07] {nemo} Lynrd Skynrd
[10:07] {Threei} SMLC bought another telco
[10:08] {magoo} what we in?
[10:08] {dino} seems backwards, also igld
[10:08] {nemo} nada, nichts, zed
[10:08] {Threei} AMZN is still at it mags
[10:09] {magoo} i see
[10:09] {ese} da jour dajjupe da fit da bow....mags
[10:09] {Threei} Short Setup: RIMM .60 break half lot
[10:09] {Threei} if stays under .70
[10:09] {ese} finally someone i can talk to on the board
[10:10] {magoo} in
[10:10] {larisa} lol
[10:10] {Threei} not a scalp for me
[10:10] {magoo} sh amzn too
[10:10] {magoo} WOW
[10:11] {magoo} from 123.16
[10:12] {Threei} no go RIMM
[10:12] {ese} i've got 122.36 bstop short for amzn dialed i off base here?
[10:13] {fernp} stopped RIMM
[10:13] {Threei} market is not ready to reverse yet... or just shakeout
[10:13] {magoo} headfake maybe
[10:15] {ese} mags you long or short amzn
[10:15] {Threei} Preview: Oct Dallas Fed Manufacturing Index due out at 10:30amET
[10:15] {Threei} **consensus expectation: -0.5%e v -6.4% prior
[10:15] {magoo} stop amzn @ 123.01
[10:16] {magoo} still in
[10:16] {ese} sh?
[10:16] {magoo} yea
[10:16] {ese} in short .55
[10:17] {magoo} [10:10] {magoo} sh amzn too
[10:17] {magoo} [10:10] {magoo} WOW
[10:17] {magoo} [10:11] {magoo} from 123.16
[10:18] {dino} gj
[10:18] {ese} covered amzn .22 +.33
[10:18] {magoo} out 1 point
[10:18] {magoo} try vad
[10:18] {Threei} wtg
[10:18] {magoo} ty
[10:19] {magoo} ese..i was worried..u were way late off my call
[10:20] {Threei} if market regains strength,
[10:20] {Threei} Long Setup: CHKP .40 break
[10:20] {Threei} if stays above .30
[10:21] {ese} sorry be honest i didn't understand it......break of .50 seemed more reasonable to not sure if i was off base there or not
[10:21] {dino} risky sm l sohu .25
[10:23] {magoo} my was break of 123
[10:23] {magoo} same concept
[10:23] {magoo} oo 50
[10:23] {ese} want to short it again at .50......any opinions
[10:23] {magoo} no
[10:23] {Threei} VVUS Ticks higher after CNBC teases upcoming segment with an Executive (10.11, +0.93, 10.13%)
[10:23] {dino} .50 wall
[10:23] {magoo} i thinkj up
[10:24] {ese} no don't do it ...or no opinions
[10:24] {ese} tks
[10:25] {ese} next real short point is 122.00 ?
[10:27] {Threei} VVUS reacted
[10:28] {fernp} CHKP good moment now if breaks?
[10:28] {ese} phewwww.....for a second i thought it Saliere...the guy who did Mozart in
[10:28] {Threei} it's a valid setup, consolidation is intact
[10:29] {nemo} watchin' too many movies ese
[10:29] {ese} ya maybe.....
[10:34] {Threei} market doesn't care
[10:35] {Threei} Market Internals update at 10:30amET
[10:35] {Threei} - NYSE volume 235M shares, about 16% below its three-month average; advancers lead decliners by 4.9:1.
[10:35] {Threei} - NASDAQ volume 465M shares, about 17% below its three-month average; advancers lead decliners by 2.7:1.
[10:35] {Threei} - VIX index -0.5% to just over 22.00
[10:38] {Threei} market losing ground
[10:39] {Threei} (US) CNBC states that under proposed Rep Frank legislation, FDIC resolving fund to be paid for by banks
[10:39] {Threei} - New legislation on authority seen coming forward this Thursday
[10:39] {Threei} - Under the currently discussed program, current equity holders would be 'wiped out'
[10:40] {dino} equity in what?
[10:41] {ese} short amzn stop .02
[10:41] {Threei} let's scratch CHKP here
[10:42] {Threei} too uncertain
[10:42] {fernp} sure? is holding well
[10:42] {Threei} not sure
[10:42] {Threei} just lost read on it
[10:42] {fernp} ok
[10:43] {ese} invalidated above .75
[10:44] {ese} if qqqq breaks below .60 amzn will go with it i think
[10:44] {strider} what's your entry, ese?
[10:46] {ese} .00 covered .86 +.14
[10:46] {ese} .00 strider bstop short
[10:46] {strider} thx
[10:47] {Threei} OCC's Dugan: Concerned recent Pay Czar rulings may cause talent to leave firms under current jurisdiction
[10:47] {Threei} **Reminder: On 10/22 US Pay Czar Feinberg said he would decrease executive compensation by 50%, limit salaries to $500K for 90% of relevant employees
[10:47] {nemo} amzn bounce off VWAP, R1 at .54
[10:55] {dino} rovi sm l .50
[10:55] {dino} esi took beating last week i see
[10:56] {Threei} it knocked on our door asking for bandaids and some water
[10:56] {dino} ahhh, bloody
[10:57] {Threei} unfortunately for it, nemo was the one who answered the door
[10:57] {dino} sohu wants 60
[10:59] {ese} was just going to ask you if you had any designs on sohu dino
[11:00] {strider} target on rovi, dino?
[11:01] {dino} .90
[11:01] {dino} lol es, waiting at 59.62
[11:01] {strider} t'would be nice.
[11:01] {dino} for bounce
[11:02] {dino} pvtb
[11:02] {dino} cyou
[11:03] {ese} tks
[11:05] {Threei} VVUS is not retreating much from highs...
[11:06] {Threei} NPSP Data Demonstrate That GATTEX (Teduglutide) Improves Lean Body Mass, Mineral Composition and Electrolyte Levels in Patients with Parenteral Nutrition Dependent Short Bowel Syndrome (3.47, +0.17, 5.15%)
[11:08] {Threei} NVAX Hearing recent strength being attributed to speculation its H1N1 vaccine could receive emergency use authorization (4.44, +0.40, 9.90%)
[11:09] {Threei} Note; BCRX's Peramivir received emergency use authorization by FDA on 10/24
[11:11] {fernp} CHKP cruel
[11:11] {ese} sndk should reverse here's going parabolic
[11:14] {dino} sohu what the....
[11:14] {dino} rinsed
[11:15] {dino} dropping markets
[11:15] {dino} rovi stop is .23 fwiw
[11:16] {strider} I'm out, +.16, thanks, dino.
[11:17] {dino} gj
[11:19] {nemo} late, hig short
[11:20] {nemo} cat could drop from here, flirting around 200 ma
[11:20] {Threei} that sharp dive in the market created many shorts that were not readable as the moment
[11:21] {Threei} no setup, simply drop
[11:21] {nemo} HIG had been dancing at .85, pulled back, and droppe again
[11:21] {nemo} I kan mystipe awl eye wont
[11:22] {Threei} I liked GLD as short, but it ruined the setup
[11:22] {Threei} and then dropped with market
[11:24] {strider} CHKP bounce?
[11:25] {strider} yep
[11:25] {dino} silc bit spready
[11:26] {dino} sohu pullback, double bottom in making perhaps
[11:26] {dino} ing lod
[11:27] {dino} pvtb same
[11:28] {fernp} GDX short Vad?
[11:29] {fernp} late
[11:29] {Threei} Long Setup: QID .52
[11:29] {fernp} stop?
[11:29] {Threei} if market breaks down here which seems to be the most likely scenario, let's try to use QID for the play
[11:30] {Threei} stop under .40
[11:30] {fernp} ty Vad
[11:31] {Threei} quick resolution
[11:31] {Threei} 1:1 was easy
[11:32] {dino} out rovi stopped -.15, stoppee intc -.10
[11:33] {Threei} 1:2
[11:33] {Threei} finally something worked exactly as it should
[11:33] {dino} nice read vad
[11:33] {Threei} ty
[11:33] {magoo} jersus dow red 30
[11:34] {Threei} and notice larisa, I keep my bet loss: I didn't type "eqzaktly"
[11:35] {larisa} :)
[11:37] {strider} sohu short?
[11:37] {Threei} not sure...
[11:37] {dino} waiting for long here
[11:38] {dino} .50s held again
[11:38] {strider} k
[11:38] {Threei} 1:3 QID but that's wothout me
[11:38] {Threei} without
[11:38] {dino} pulp tho, careful
[11:38] {fernp} yeah, scalper's regret here. but i need some winners...
[11:39] {Threei} don't regret it for a second fern
[11:40] {Threei} market is absolutely brutal last few days in terms of non-readable moves,
[11:40] {fernp} right
[11:40] {Threei} and it will stay this way until topping action is resolved
[11:40] {Threei} think about it in these terms:
[11:41] {Threei} maximum uncertainty is normal for bottoms and tops
[11:41] {Threei} much easier and more readable action is happening when the trend establishes itself
[11:41] {fernp} true
[11:41] {Threei} what we have here is market trying to form a top,
[11:42] {Threei} and this is area of a fight between trend-continuation-hoping crowd
[11:42] {Threei} and reversal-betting crowd.
[11:42] {Threei} Until they resolve their differences and someone wins, we have this jerky up and down with not much rhyme or reason
[11:43] {Threei} One controls his risk tightly, makes sure that no losing trade gets out of hand,
[11:43] {dino} sm l sohu .54 wide
[11:43] {Threei} and one of risk control methods in jerky market is limiting trades to scalps
[11:43] {nemo} cat at Fri. close
[11:44] {fernp} let's see if it is resolved soon
[11:46] {dino} pvtb sm l .90
[11:51] {Threei} YRCW Hearing vague chatter of possible new financing information due soon (3.43, +0.10, 3.00%)
[11:51] {Threei} guys, valid setup for downtrend continuation from here is QID long on .9- break,
[11:51] {Threei} and my bet is it will fail
[11:52] {Threei} let's just watch it to see whether market continues its evilish ways
[11:52] {Threei} or starts fitting into normal patterns
[11:53] {nemo} sds
[11:53] {Threei} normal pattern would be .90 break and steady strong move to 22.20 or so,
[11:53] {Threei} evilish jerky way would be drop to 21.60
[11:54] {Threei} not going to trade eithger, just want to observe
[11:58] {Threei} wow... we may be getting normal patterns back
[11:58] {Threei} this is encouraging
[11:58] {nemo} what's magoo doing?
[11:58] {fernp} very
[11:59] {Threei} Equity and commodity market weakness attributed to a variety of vague rumors circulating
[11:59] {Threei} - some desks noting the strength in the USD(moves back below 1.5000 level), citing the Brazilian central bank buying dollars in the spot market, though we would note that the Brazilian central bank does this frequently, including four times last week.
[11:59] {Threei} - other desks noting concerns about the report today that the White House and Barney Frank's committee are close to an agreement on resolution authority that would includes requiring some large banks to hold more money in reserve.
[11:59] {Threei} - some unconfirmed chatter circulating that a ratings downgrade on major banks could be imminent from S&P.
[11:59] {dino} sohu stopped
[11:59] {Threei} another banking sector rumor being recirculated today suggests that BoA may seek to do another capital raise.
[11:59] {Threei} - yet another point of concern is recirculating chatter that the US may not extend the new home buyer tax credit, which is set to expire on Dec 1.
[11:59] {nemo} Funny...watched Quantum of Solice this weekend...even the bad guys won't take dollars anymore
[12:01] {ese} thats funny
[12:01] {nemo} whatever
[12:04] {ese} market reversal.taking place me thinks.....
[12:04] {Threei} 22.20 on the nose
[12:04] {Threei} I like it
[12:05] {Threei} very precise action, just as I envisionwed it from the breakdown chart
[12:05] {dino} sohu just about hit es
[12:06] {Threei} GLD... what a short that would have been if I weren't a coward
[12:06] {ese} are you L qid vad?
[12:07] {Threei} sold at .75
[12:07] {Threei} call was .52 long
[12:07] {Threei} you don't pay attention to me whatsoever, do you :)
[12:08] {Threei} I am talking about QID for the last 30 minutes non-stop
[12:08] {ese} sorry.....was in the shower......
[12:08] {Threei} you don't have computer there??
[12:08] {ese} although.....could have got my shower biking to school today
[12:09] {Threei} lol
[12:09] {Threei} rain stopped here
[12:10] {Threei} if I undesraynd where this market is and what it does - next move on QID is drop to 21.80
[12:10] {Threei} understand
[12:10] {Threei} again, not trading it
[12:11] {ese} alright.....alright already..........i'm gettin it........sheesh
[12:11] {Threei} outlining how market should act if my rwad is right, and watching it to measure how right my read is
[12:11] {nemo} Larisa!
[12:11] {Threei} sigh
[12:12] {Threei} it's not misspelling
[12:12] {nemo} arabic?
[12:12] {Threei} it's darn keyboard manufacturers
[12:12] {Threei} they need to place keys farther apart
[12:15] {dino} intc l off .75
[12:15] {ese} or........
[12:15] {Threei} Long Setup: GLD .56
[12:16] {Threei} stop under .50 for scalpers, .45 for day traders
[12:16] {ese} like myself.....unable to function under extreme technical requirements of modern day and age
[12:17] {ese} l gld by the way .57
[12:18] {Threei} 1:1 for scalpers
[12:18] {Threei} and day traders
[12:18] {fernp} ty again
[12:18] {Threei} :)
[12:18] {Threei} easy does it
[12:19] {ese} ouuuuuuuut GLD .69 +.12
[12:19] {Threei} and hey... long call on GLD by me is no small feat
[12:19] {Threei} I hate the thing, lol
[12:19] {ese} true true.....cannot deny that
[12:19] {Threei} should I yeiled to my bias, I'd be shorting it every minute
[12:20] {Threei} 1:2
[12:20] {ese} not so good an idea chief
[12:20] {Threei} no
[12:21] {Threei} which is why I resist my biases:)
[12:21] {ese} ahhhhh...ummmmmmm....stick with the vodka.....would be my advice
[12:22] {ese} you have the smoothest vodka i've ever tasted......
[12:22] {ese} or was that dp's
[12:22] {Threei} don't remember
[12:22] {Threei} if it was Iceberg, that's mine
[12:23] {ese} don't remember......
[12:23] {Threei} lol
[12:23] {Threei} if dp doesn't remember either, I wonder whether the reason is the same for all three of us
[12:23] {ese} hmmmmm....seems to me i've left your place a couple of times in the "i don't remember state"
[12:23] {Threei} which is" whatever it was, there was no lack of it"
[12:24] {ese} rotfl
[12:24] {ese} indeed
[12:24] {ese} i do remember the shiskabob though
[12:27] {ese} amzn is gonna take off again......serious upside bias to this thing
[12:28] {magoo} yea..i think it goes for day high
[12:28] {magoo} amzn
[12:28] {magoo} i think shorts still trapped and dead dead dead
[12:28] {Threei} even deader?
[12:28] {Threei} up to deadest?
[12:29] {magoo} yup
[12:30] {Threei} if you strongly feel market is readable,
[12:30] {Threei} Short Setup: QID 22 breakdown if staysd below 22.10
[12:30] {nemo} why not long qld?
[12:31] {Threei} same things direction wise but qld is more volatile
[12:31] {ese} 2.8 days for amzn to cover shorts.....then theres still some to go
[12:31] {Threei} so, matter of taste
[12:37] {fernp} QID invalidated
[12:38] {nemo} Mmmmhhhh....Marc Faber says the $ will go to zero, zed, zip
[12:42] {Threei} yeah?
[12:42] {Threei} lol
[12:42] {nemo} 2012
[12:42] {Threei} cool, soon enough
[12:42] {Threei} make a note somewhere, to get baclk to it in 2012
[12:42] {nemo} getting my DPWF list ready
[12:43] {larisa} 2012 end of World too, according to nemo :)
[12:43] {nemo} call it a "restructuring"
[12:45] {strider} amzn can't break 123
[12:46] {nemo} hig short break of .55
[12:46] {nemo} ?
[12:47] {nemo} stop a bit tough
[12:47] {Threei} valid play
[12:48] {magoo} here comes .11
[12:52] {Threei} US) Senator Dodd (D-CN): Seeking immediate rate freeze on credit cards
[12:52] {Threei} (US) Senator Bill Nelson (D-FL): Expects Senate to extend first time homebuyer credit later this week
[12:52] {Threei} - Current tax credit expires Nov 30 (related XHB )
[12:53] {Threei} US) Senate Majority Leader Reid (D-NV): Plans to back public option that allows states to opt out
[12:53] {Threei} - Expected to make announcement at a press conference later today
[12:53] {Threei} if states can opt out, how do they expect health insuranxce be portable?
[12:53] {nemo} the public option will basically be mammaries on a bull
[12:54] {nemo} cat short break of .20?
[12:54] {magoo} im waiting 124.24..
[12:54] {Threei} I doubt it nemo
[12:55] {Threei} IMO, market will be uptrending for a while from here
[12:55] {Threei} want that QID short
[12:55] {Threei} maybe on bounce
[12:56] {magoo} amzn high
[13:04] {magoo} i think im gonna get it
[13:07] {dino} lo
[13:07] {magoo} out.124.24 + alot
[13:07] {magoo} 1.14
[13:08] {larisa} gj
[13:08] {magoo} [12:48] {magoo} here comes .11
[13:08] {magoo} [12:54] {magoo} im waiting 124.24..
[13:09] {fernp} good job magoo
[13:11] {magoo} ty..any takers?
[13:13] {fernp} shorting here HIG .54
[13:13] {Threei} SP issues report on Global Housing; showing signs of some bright spots
[13:13] {Threei} - The U.S. housing market, for example, has shown some momentum. Housing starts and home sales are climbing back from lows early this year, and home prices are rising after sharp drops that began in 2006
[13:13] {Threei} - for a few U.S. homebuilders, credit quality is firming, though that could change in the months ahead, as the negative outlooks on 11 of the 15 homebuilders we rate indicate. Despite signs of a slight real estate rebound, we believe our ratings on many of these companies will likely remain under pressure through the balance of the year and probably into 2010.
[13:18] {fernp} MGM valid dbi but wrong time?
[13:19] {Threei} looks good to me chart wise...
[13:20] {Threei} time is questionable, yes
[13:21] {fernp} out HIG +.14
[13:22] {fernp} missed MGM
[13:22] {strider} gj fern
[13:22] {fernp} ty
[13:26] {strider} VVUS
[13:26] {strider} ?
[13:27] {Threei} no idea
[13:28] {strider} mnro?
[13:28] {Threei} same chart... same answer :)
[13:28] {dino} sohu wakey
[13:28] {strider} :)
[13:30] {strider} AMGN at lod
[13:30] {strider} along with everything else.
[13:30] {ese} ya know.....were fast approaching "2010.....A SPACE ODYSSEY" with Hal the computer about to take over....who da thunk it 40 years ago.....
[13:31] {fernp} AMGN too extended daily candle IMHO
[13:31] {Threei} maybe but intraday chart is still breakdownish
[13:31] {ese} i know i know nemo....the weirdest things go through my brain
[13:31] {strider} thx fern
[13:32] {fernp} :)
[13:37] {ese} it's been a stellar day but i must be off to do something else that i really ....teach music....catch you all tomorrow
[13:37] {ese} really love
[13:37] {Threei} take care ese
[13:38] {ese} see ya vad
[13:38] {fernp} bye ese
[13:38] {nemo} dude
[13:42] {fernp} SKS has an interesting breakdown on daily chart
[13:42] {magoo} hey vad..u here?
[13:42] {Threei} what makes you think I am not?
[13:42] {magoo} dino doubting my amzn read friday...u got my back?
[13:42] {Threei} yes sir
[13:43] {Threei} don't doubt him dino
[13:43] {Threei} he called it perfectly
[13:43] {Threei} actually, it's in the log, and jujst read the blue blurb
[13:43] {magoo} :)
[13:43] {Threei}
[13:44] {magoo} i thought u edited out every post i make lol
[13:44] {Threei} yep, it's on autopilot
[13:44] {Threei} script called "magoo out"
[13:45] {Threei} you see the blue blurb mags?
[13:45] {dino} no feel out of touch
[13:46] {Threei} no wonder dino
[13:46] {Threei} market is changing, you were away for a week
[13:46] {Threei} we are adjusting for the last few days and still are not there fully
[13:47] {fernp} EBAY dbi?
[13:47] {Threei} if market helps, but for scalp only
[13:48] {Threei} daily is rather bottoming on it
[13:48] {Threei} look at MGM bounce fern
[13:48] {Threei} came into short zone probably
[13:49] {fernp} don't know what to do
[13:49] {fernp} market never helps, lol
[13:49] {larisa} lol
[13:51] {nemo} wow...$ up .14
[13:58] {Threei} quite a move
[13:58] {Threei} and chart looks reversish
[13:58] {nemo} on what, the $?
[13:58] {fernp} MGM double top here, Vad?
[13:58] {Threei} yeah
[13:58] {nemo} mgm or $
[13:58] {Threei} hmmm
[13:58] {Threei} MGM, not sure
[13:59] {Threei} maybe break
[13:59] {fernp} ok. no read here
[13:59] {Threei} mags, you here??
[14:01] {strider} mgm c&h
[14:01] {nemo} or double top
[14:01] {strider} k
[14:02] {Threei} Market Internals update at 2:00pmET
[14:02] {Threei} - NYSE volume 815M shares, about 19% above its three-month average; decliners lead advancers by 3.1:1.
[14:02] {Threei} - NASDAQ volume 1.53B shares, about 5% above its three-month average; decliners lead advancers by 1.9:1.
[14:02] {Threei} - VIX index +8.5% to just over 24.00
[14:02] {nemo} wow...
[14:02] {nemo} that's a jump
[14:02] {nemo} options must be selling like hot cakes
[14:09] {fernp} Vad, SKS short .14 for 5 cent scalp do u think is good idea?
[14:11] {Threei} too narrow IMO
[14:12] {Threei} getting 5 cents out of it will be torture
[14:12] {Threei} let alone more
[14:12] {fernp} thanks
[14:19] {Threei} if reversal gains momentum and takes root more confidently, we will have QID breakout working
[14:19] {Threei} BIDU earnings after market
[14:20] {Threei} WYNN tomorrow morning
[14:24] {nemo} Hey typing mistakes on private dcc's from Vad count?
[14:24] {Threei} sigh
[14:24] {larisa} lol
[14:25] {Threei} you have to admit, I am much much better today
[14:25] {larisa} you are, keep trying your best :)
[14:25] {Threei} ty for encouragement
[14:26] {Threei} and I edited out two mistypes in "encouragement" before hitting enter
[14:26] {fernp} lol
[14:26] {Threei} and one in word "enter"
[14:27] {Threei} but I nail "and" almost every time
[14:27] {larisa} you know what? just concentrate on trading and forget retyping. Just make sure symbol is right :)
[14:27] {nemo} nice one
[14:27] {fernp} good one
[14:28] {nemo} vad got bitch slapped!
[14:28] {Threei} not much to trade right now anyway
[14:28] {Threei} question is:
[14:28] {larisa} it was not slapping.. he is forgiven!!
[14:28] {nemo} back-handed albeit
[14:28] {Threei} do we break down this narrow range formed over last 2 and half hours
[14:29] {Threei} or market breaks upper limit and returns into meaningless territory
[14:29] {Threei} range itself is too narrow to play within it,
[14:29] {nemo} which would aggravate the most people?
[14:29] {Threei} no indication which side is more likely to give up
[14:29] {Threei} so I sit it out for now
[14:30] {larisa} very tough market I agree
[14:31] {Threei} we got first half of the day mostly right
[14:31] {Threei} hopefully it's a sign of market finding the direction or us getting back in tune with it
[14:32] {nemo} last mon and tuesday were good
[14:32] {Threei} don't want to ruin the harmony, fragile as it is, by pushing aything while in narrow range
[14:39] {Threei} Long Setup: QID .20 break
[14:39] {fernp} SKS worked, patterns are gradually gaining credibility
[14:39] {Threei} if stays above .10
[14:50] {Threei} ok market
[14:50] {Threei} breakdown is in cards
[14:50] {Threei} just do it
[14:51] {strider} Qs making dbl bottom
[14:51] {Threei} larisa, dino
[14:51] {Threei} bets on the close?
[14:51] {Threei} -180 here
[14:51] {larisa} -160 :)
[14:51] {larisa} wow, we are on same page, not good :)
[14:51] {dino} -65
[14:51] {larisa} lol
[14:51] {Threei} 20 points apart
[14:51] {Threei} and dino doesn't diasppoint :)
[14:51] {dino} lol
[14:52] {Threei} I don't see double bottom strider
[14:52] {Threei} I see multiple attempts at low
[14:52] {strider} ok. multiple bottom:)
[14:52] {Threei} this is 6th or 7th one
[14:52] {Threei} tightenting range too
[14:53] {strider} so, I needed to spread my chart out a bit.
[14:53] {Threei} I watch whole day
[14:54] {nemo} markets strengthening
[14:56] {strider} stop at .09?
[14:56] {Threei} on what?
[14:56] {fernp} y
[14:56] {strider} QID
[14:56] {Threei} sure
[14:57] {fernp} stopped
[14:58] {fernp} have a nice evening everybody. see u all tomorrow.
[14:58] {Threei} take care fern
[15:21] {Threei} (US) Senator Majority Reid: The best way foreward is with a public option, with op out provisions for individual states
[15:21] {strider} Let me guess. California will opt IN.
[15:42] {nemo} uniform triangle forming on fcx
[15:42] {nemo} fcx staying just below 200 fwma
[15:45] {Threei} ewell... so far market justg stayd in the range, rendering attempts to play breaks useless
[15:46] {dino} 20 pts
[15:49] {nemo} dollar has held all afternoon
[15:49] {dino} -68
[15:50] {Threei} larisa... we need vacation
[15:50] {Threei} look how dino pins it down
[15:50] {larisa} 10 more minutes!
[15:51] {Threei} yeah... but it's safe to say he will be closer to final number than any of us :)
[15:51] {dino} "safe", not in todays market imo, lol
[15:51] {larisa} lol
[15:58] {dino} see
[15:59] {nemo} aig w/mind of its own
[16:01] {dino} maybe that equity falls in the barney worthless class too
[16:01] {nemo} not if you trade it profitably
[16:01] {dino} lol
[16:01] {Threei} thank you all
[16:01] {dino} good point
[16:01] {Threei} have a good evening, see you tomorrow
[16:01] {larisa} bye :)
[16:01] {nemo} cut 2500 laid-off workers
[16:03] {dino} vfc