Tuesday, December 15, 2009

Dec 15 2009

Boring but winning day. As we came to call stopped trades frogs we have to kiss in order to find princes, today's count is princesses 4 frogs 1. CSIQ long right after open (the only long today), WFC short in few minutes for nice 1:3 move, then short RIMM stopped us out by 2 cents before proceeding to work (ugh), and two more shorts that worked nicely - BBY and MET. And as action slowed down, whole lot of decidedly not funny jokes.

Session Time: Tue Dec 15 00:00:00 2009

[07:48] {strider} 07:43 EDT RIMM theflyonthewall.com: Research in Motion valuation discount unwarranted, says Jesup & Lamont
[07:48] {strider} Jesup & Lamont's analysis indicates RIMM shares trade as 25% discount to the smartphone group based on 2011 consensus estimates, something the firm feels is unwarranted. In addition, Jesup thinks RIMM's November quarter tracked to meet or beat its estimates of $3.7B in sales and $1.01 in earnings. The firm keeps a Buy rating on the stock with an $80 price target
[08:12] {nemo} Hi folks, you too birdman :)
[08:14] {Raven} {--{--
[08:15] {nemo} Oh great more ravenglyphs
[08:15] {Threei} good moprning
[08:15] {nemo} wow, spelling gone awry already
[08:15] {Raven} moprning :)
[08:15] {Threei} US) Preview: Nov Producer Price Index and PPI ex Food & Energy due at 8:30amET
[08:15] {Threei} - Producer Price Index MoM: 0.8%e v 0.3% prior; YoY expected at 1.8% v -1.9% prior
[08:15] {nemo} subtle Raven
[08:15] {Threei} (US) Preview: Dec Empire Manufacturing Index due out at 8:30amET
[08:15] {Threei} ***consensus estimate: 24.00e v 23.51 prior (Most analyst range of estimates seen from 21.0 to 26.0
[08:16] {Threei} why no one ever remarks on how perfect my cspelling is when I copy/paste...
[08:16] {Raven} cspenning just great !
[08:16] {Raven} nn=ll
[08:16] {Threei} ahh
[08:16] {Threei} welcome to my world
[08:16] {Threei} but yeah, misspellinng of word spelling is a new low
[08:17] {Threei} and you thought I hit rock bottom
[08:17] {Raven} new lows set here daily
[08:17] {Threei} well, at least we are consistent
[08:17] {Threei} and ternding
[08:17] {Threei} trending
[08:17] {Raven} sheesh!
[08:17] {Threei} lol
[08:18] {Raven} I need some tea ...
[08:18] {Threei} hey, no single mistake in lol
[08:25] {Threei} Sinovac Biotech SVA named "New Buys" by Louis Navellier's Quantum Growth Newsletter; DM, DRC, HITK names "New Sells"
[08:25] {nemo} gap up, gap down, gap up, gap down, row row row your boat
06[08:28] * nemo slaps ese around a bit with a large Pearl Bass Drum
[08:28] {ese} wow.......
[08:28] {ese} morning dude
[08:28] {nemo} dude
[08:28] {ese} whats new and exciting
[08:29] {nemo} zip zed nada, null nyet nein
[08:29] {Threei} El Duderino
[08:30] {ese} hmmmmmmm.......well then .....i know it's morning but we need to start drinking heavily
[08:30] {Threei} *(US) NOV PRODUCER PRICES INDEX M/M: 1.8% V 0.8%E
[08:30] {Threei} US) DEC EMPIRE MANUFACTURING: 2.55 V 24.00E
[08:30] {nemo} oh oh!
[08:30] {nemo} quick, hop on the down train
[08:31] {ese} that can't be right
[08:31] {nemo} yes it can
[08:31] {ese} 25.5 maybe
[08:31] {nemo} You have $ drubbing until recently, and you have fixed cost coverage requirements
[08:32] {Threei} still
[08:32] {nemo} oh, I was looking at the PPI
[08:32] {nemo} sorry
[08:32] {Threei} 6 month business conditions at worst level since July 2009
[08:32] {Threei} - Drop in Index largest since July 2001
[08:34] {Threei} ese
[08:34] {Threei} The Dude: Let me explain something to you. Um, I am not "Mr. Lebowski". You're Mr. Lebowski. I'm the Dude. So that's what you call me. You know, that or, uh, His Dudeness, or uh, Duder, or El Duderino if you're not into the whole brevity thing.
[08:35] {nemo} Mmmmhhhh...the asylum is at full capacity early this morning...
[08:38] {ese} ahhhhhhhhhh.........i can do that.....i called you the exalted one yesterday.......did that work
[08:38] {nemo} yeah, he set up a mirror in front of his monitor
[08:39] {Threei} I went to look up exalted in the dictionary and fell asleep
[08:39] {ese} you get much snow up your way yesterday?
[08:40] {Threei} lol, that was my luck
[08:41] {Threei} I was returning home around 4:30-5 when snow started
[08:41] {Threei} whole highway part was abut 40 km/h
[08:41] {Threei} you can imagine how long it took to get home
[08:42] {Threei} plus irritating imbecil behind me who just doesn't get the concept of keeping safe distance when it's slippery
[08:42] {Threei} now, 30 min after I got home, rain destroyed all the snow in like 15 minutes
[08:42] {Threei} totally clear now
[08:42] {ese} always some fruit cake in the crowd.........it didn't last long here......supose to be about 20cm today or tomorrow
[08:42] {Threei} here?? in Vancouver I though
[08:42] {Threei} thought
[08:43] {Threei} early warning was not for Victoria... let me look if changed
[08:43] {ese} ummmmmmm......maybe your right.....i may have gotten that wrong
[08:44] {Threei} Greater Victoria
[08:44] {Threei} 05:44 PST Tuesday 15 December 2009
[08:44] {Threei} No watches or warnings in effect.
[08:45] {ese} yup your correct....mostly rain here
[08:55] {ese} jaso......haven't seen much action from this one for a long time
[08:56] {Threei} December 14, 2009 4:05:30 PM
[08:56] {Threei} JA Solar Holdings Expects Q4 shipments to exceed the high end of prior guidance given on Nov 10 of 170-200MW; Guides FY09 shipments to exceed 488MW vs prior guidance of 448-478MW; Guides FY10 shipments 750-800MW
[08:56] {Threei} - Based on strong customer demand for JA Solar's products, the company currently expects shipments for the fourth quarter of 2009 to exceed 210MW, compared with prior guidance in the range 170MW to 200MW.
[08:56] {Threei} couple upgrades too
[08:56] {Threei} targets are modest though
[08:57] {Threei} 5.50 and 7
[08:57] {ese} ya
[08:59] {Threei} CME Firm has cleared its first CDS trade - spokesperson (333.03, 0.00, 0.00%) (related CDSXX )
[09:00] {Threei} *(US) OCT NET LONG TERM TIC FLOWS: $20.7 V $37.1BE
[09:00] {ese} what might that be.........CDS trade...canadian dollar?
[09:01] {nemo} Credit Default Swap
[09:01] {Threei} those same that were pointed as one of the major causes of the crisis
[09:02] {fernp} Good morning everybody
[09:02] {Threei} fern :)
[09:02] {ese} hmmmmmmmm..........
[09:02] {nemo} Hola
[09:02] {ese} fern
[09:05] {strider} WY gap up...electing REIT status.
[09:05] {dino} gm all
[09:05] {strider} morning dino...
[09:05] {strider} & everybody
[09:06] {Threei} strider, dino :)
[09:06] {dino} :)
[09:09] {dino} wy
[09:09] {dino} bby
[09:12] {dino} bby gap filling 43
[09:12] {Les} No Nemo, I think you are suffering an early onset of Alzheimers...
[09:12] {Les} GM all :)
[09:12] {Threei} earlyZ?
[09:12] {Threei} morning Les
[09:15] {Threei} *(US) NOV INDUSTRIAL PRODUCTION: 0.8% V 0.5%E; CAPACITY UTILIZATION: 71.3% V 71.1%E
[09:15] {Threei} - prior Industrial Production revised from 0.1% to 0.0%
[09:15] {Threei} - prior Capacity Utilization revised fr...more... (related SPY SHY EUR/USD TLT )
[09:15] {nemo} hi lari
[09:15] {larisa} gm :)
[09:15] {Threei} larisa :)
[09:16] {larisa} :)
[09:16] {Threei} WFC
[09:16] {Threei} Wells Fargo & Co Pricing of secondary offering seen at approx $25/share -CNBC
[09:16] {Threei} ***Reminder: Firm announced at $10.4B common stock offering as part of package to repay $25B in TARP funds on Dec 14
[09:16] {Threei} the ease with which they issue shares and sell them in unprecedented amounts is amazing
[09:17] {Threei} C, BAC, WFC
[09:17] {nemo} PT Barnum at his best
[09:17] {Threei} you'd think they'll have troubles convincing the market their financial health is so great
[09:17] {nemo} Sheep shearing
[09:20] {Threei} can't say sheep resists eh
[09:20] {Threei} willing and eager participant
[09:20] {nemo} yep
[09:20] {Les} you don't think banks are buying each others shares with taxpayers money?
[09:21] {Les} just another con job at our expense?
[09:21] {Threei} what good would that do for them?
[09:21] {Les} just papering over the cracks
[09:21] {Threei} money shoffling from one p;ocket to another doesn't make sense
[09:21] {Les} neither does buying bank shares right now
[09:22] {Les} whatever.
[09:22] {Les} keeps me busy as a trader
[09:23] {Threei} look at it this way
[09:23] {Threei} buying makes sense if you can sell at profit later
[09:23] {magoo} morn
[09:23] {Threei} buying from each other doesn't help as there is no third party to sell to
[09:23] {Threei} magoo :)
[09:23] {Threei} remember old joke
[09:24] {nemo} well, market shaking off the inflation and manufacturing data
[09:24] {Threei} about broker and doctor?
[09:24] {Threei} where broker was convincing a client to buy more and more shares of some obscure company
[09:24] {Threei} showing that price quickly rises
[09:24] {Threei} finally doctor said, no, enough is enough, I have a huge gain, let's see
[09:24] {Threei} to which broker replied:
[09:25] {Threei} sell to whom? all this time you were the only buyer
[09:25] {Les} hmm. I'd love to know who is buying bank shares now
[09:25] {dino} bucket shop
[09:26] {dino} mutual funds, hedge funds, etc. long termers imo
[09:26] {Les} ascending triangle on SPY
[09:27] {magoo} vad, lol
[09:28] {ese} do any of those places still exist dino, bucket shops....pardon my ignorance here
[09:28] {Threei} in stock market they were outlawed about 90 years ago ese
[09:28] {Threei} in curencies though... they exist
[09:29] {ese} really.......huh....go figure
[09:29] {dino} bucket shops was answer to vad's joke, boiler room, good movie
[09:29] {Threei} let's get back to it later
[09:29] {ese} k
[09:29] {Threei} exactly dino
[09:31] {Threei} RIMM
[09:31] {Threei} sharp pullback into 62.60 -.70 should be an entry
[09:32] {nemo} .30 key resistance
[09:32] {Threei} RIMM: uhhu
[09:32] {nemo} yes
[09:33] {magoo} watchging BBY vad?
[09:34] {Threei} Long Setup: CSIQ 25 break half lot
[09:35] {lasertrev} gm
[09:35] {Threei} trev :)
[09:36] {nemo} wow
[09:36] {Threei} eeck
[09:36] {nemo} misse it
[09:36] {fernp} impossible here
[09:36] {dino} aim
[09:36] {nemo} had to buy at 25
[09:36] {magoo} in .97
[09:36] {Threei} lol, I knew it
[09:37] {fernp} great entry mags!!!
[09:39] {ese} L beat .11
[09:42] {Threei} Short Setup: WFC .80 break
[09:43] {nemo} damn
[09:43] {Threei} stop for scalpers above .90, for day traders above 26
[09:45] {magoo} ok covered CSIQ try vad out .53
[09:46] {ese} out beat .08 -.03
[09:46] {Threei} stop to above .90 for everyone
[09:46] {ese} should have taken the .08 when i had it
[09:46] {magoo} jaso too vader
[09:49] {Threei} stop to above .85
[09:49] {Threei} stingy
[09:49] {Threei} and intend to stay this way
[09:49] {Threei} 1:1
[09:49] {fernp} ty
[09:49] {Threei} half out or take scalp
[09:49] {Threei} half for me
[09:50] {Threei} 1:2
[09:50] {Threei} 1/4 more
[09:50] {strider} out from .88
[09:50] {Threei} stop just above .80 for the last piece
[09:51] {Threei} princesses 2, frogs 0
[09:51] {Threei} 1:3
[09:51] {Threei} either cover in full or trail
[09:51] {Threei} to above .70
[09:51] {Threei} I am out
[09:51] {magoo} out to lunch u mean :)
[09:52] {Threei} a bit early for that...
[09:53] {dino} mgln
[09:53] {magoo} great EXIT vad
[09:54] {dino} bby wants high 40s, for strike
[09:54] {Threei} 2 cents above bottom
[09:54] {nemo} losing your touch
[09:54] {Threei} age...
[09:55] {Threei} gone are the times when I could whip out my Magnum faster than my reflection in the mirror
[09:55] {strider} Please...too much information!
[09:55] {dino} lol
[09:55] {Threei} sigh
[09:56] {magoo} wheres BBY bounce vad..crushed
[09:56] {Threei} not ready yet
[09:57] {Threei} RIMM...
[09:57] {Threei} looks like short to me but the stop is too far
[09:57] {ese} L stec .38
[09:57] {nemo} I have .75 as support level for bby
[09:59] {Threei} IMO, another leg down is coming
[09:59] {fernp} SOL .60 break, Vad?
[10:00] {Threei} clooooow...
[10:00] {Threei} c=s
[10:00] {fernp} slow?
[10:00] {fernp} y
[10:01] {Threei} Short Setup: RIMM .60 break
[10:01] {Threei} if stays under .70
[10:02] {dino} comm. construction luv
[10:03] {Threei} (US) Reportedly House Democrats planning a short term extension of the US debt limit, but not a year long extension
[10:03] {Threei} ***Reminder: On 12/13 the WSJ reported that some moderate Senate Democrats are mulling supporting a short-term increase in the government's borrowing authority. Legislation on raising the debt limit may be attached to the currently unapproved $626B spending bill which covers the Pentagon's operations for FY10. On 11/5, Democratic Congressman Sen Kent Conrad of North Dakota and Rep John Spratt of South Carolina said they were considering an increase in the US' debt ceiling.
[10:03] {Threei} **Note: The US' current debt ceiling is $12.1T. On Nov 4, the US Treasury said it expected the $12.1T debt ceiling to be hit in Dec.
[10:04] {nemo} first frog
[10:04] {nemo} just barely
[10:04] {strider} had RIMM triggered?
[10:04] {Threei} not sure, that was my question also
[10:05] {nemo} yeah, just a slight jump
[10:05] {fernp} yeah and stopped here
[10:05] {strider} rude as usual.
[10:07] {dino} osk hl l .50
[10:08] {Threei} BBY conference call in progress
[10:09] {Threei} so things change on line by line basis
[10:09] {ese} out stec .45 +.07
[10:10] {ese} want to catch this on pull back.....i love the daily.......i think there is some short covering going on here
[10:11] {ese} so much for the pullback
[10:15] {strider} RIMM
[10:15] {strider} possible short?
[10:15] {strider} just spiked.
[10:15] {nemo} not at the moment
[10:16] {Les} hey hey IB is back up. AWIAV?
[10:17] {fernp} me, in SOA from .65 Les
[10:17] {ilana} CAT should go long
[10:18] {strider} stop?
[10:19] {Les} could be upper boundary of range for CAT ilana
[10:19] {nemo} would have to be .10
[10:19] {Les} thanks fern
[10:20] {fernp} :-)
[10:20] {ilana} triangle... plus market's help
[10:20] {ese} well was wrong about stec pausing........great daily chart
[10:24] {dino} snda thin hl l .50, stop lod
[10:25] {nemo} now that's a stop!
[10:25] {dino} opps, wrong stock, .18 stop
[10:26] {nemo} that could have been expensive
[10:27] {dino} yeah
[10:27] {dino} i'm mr. freeze today, everything i touch, stops
[10:28] {nemo} I'll refrain
[10:28] {ese} didn't the market climb for 2 years after the 87 crash?.........yes/no
[10:29] {dino} big time
[10:29] {ese} longer even?
[10:29] {nemo} that was pre cds cdo cmo
[10:30] {dino} late 80s and 90s rocked, if i remember correctly
[10:30] {fernp} BBY maybe double bottom here
[10:30] {ese} we might have a year to go then
[10:31] {dino} thx fern forgot about it
[10:31] {fernp} np
[10:32] {nemo} stop too big for me but AMZN looking short
[10:33] {ese} l fitb .04
[10:34] {Les} need market help Nemo. too many stocks dependent upon market help IMO
[10:36] {Les} GS down big time
[10:37] {nemo} wow, want to see a big buyer/buy program. Look at de from yesterday at 3:00 until this morning at 10:15
[10:40] {strider} WFC short on bounce?
[10:41] {dino} greeeeen
[10:41] {fernp} out SOA +.13
[10:41] {dino} gj
[10:41] {fernp} thanks
[10:44] {strider} WFC lvl 1 high is wrong.....why can't they get those numbers to update properly?
[10:44] {magoo} i think its correct .32
[10:45] {fernp} level1 ignores premarket strider
[10:45] {larisa} out of bounds trade at 10:40
[10:45] {strider} yep.. you're right. I was looking at premarket.
[10:45] {magoo} ah
[10:45] {strider} 8:25-8:30
[10:45] {nemo} you take the plug out magoo?
[10:45] {magoo} pre mkt doesnt really exist lol
[10:46] {nemo} it's an existential construct
06[10:46] * strider slaps nemo around a bit with a large copy of Heidigger
06[10:47] * nemo slaps strider around a bit with a large copy of Nitsche
[10:47] {strider} WFC not following mkt up.
[10:48] {fernp} C also breaking lod
[10:48] {strider} Nietzsche.
[10:48] {nemo} boy...the selling at .30 on cat
[10:49] {nemo} damn jumped on me
[10:51] {strider} short WFC .04 stop .20
[10:51] {fernp} you in Cat, nemo?
[10:52] {nemo} no, it jumped .31
[10:52] {nemo} I was waiting
[10:53] {fernp} good move from .30 CAT
[10:53] {nemo} yes, hit resistance at .45 from yesterday
[10:53] {magoo} wheres vad?
[10:53] {ilana} CAT +.13, ty Vad
[10:53] {Threei} why me?
[10:53] {nemo} he's got that mirror in front of his monitor now
[10:53] {Threei} you found it yourself
[10:53] {dino} out snda .94, +.44
[10:53] {ilana} FITB +.07, ty ses
[10:53] {ilana} ese
[10:54] {ilana} did i wake you up?
[10:54] {ilana} good
[10:54] {Threei} nope, I am still sleeping
[10:54] {Les} nice one on CAT b/o
[10:57] {nemo} bby downward wedge
[10:57] {Threei} Short Setup: BBY .85 break half lot
[10:57] {nemo} too funny
[10:57] {Threei} if stays below 42
[10:58] {Threei} not a scalp for me if triggers
[10:59] {magoo} in s bby
[11:01] {Les} in
[11:02] {Threei} US) FDIC: Will propose $4B budget for 2010 operations (55.8% increase y/y)
[11:02] {Threei} - Expects more banks reaching risky status through 2010
[11:02] {Threei} - Will seek to increase staff levels to 8.6K from current 7K
[11:05] {ese} hi ilana.......was just fully concentrating on drys........am long here huge.......still long fitb .04
[11:06] {Threei} 1:1
[11:06] {Les} half out
[11:06] {nemo} gotta' step out for awhile...cu
[11:07] {fernp} ty Vad
[11:07] {fernp} bye nemo
[11:07] {Threei} princesses 3 frogs 1
[11:07] {Threei} take care nemo
[11:07] {Les} better ratio than last week
[11:08] {Threei} you sleot through yesterday?
[11:08] {larisa} yesterday was this week :)
[11:09] {Les} sleot?
[11:09] {dino} tthi ouch
[11:09] {ese} ILANA!!!!!!!
[11:09] {Les} english someone?
[11:09] {dino} deck blood
[11:09] {Threei} gosh les... look at your keyboard
[11:09] {ilana} yes
[11:10] {Threei} what possible letter could be there instead of o?
[11:10] {ese} i wasn't ignoring you..........
[11:10] {Les} french keyboard
[11:10] {Threei} strider
[11:10] {Threei} nemo left, so I need someone comptenet to answer this:
[11:10] {Threei} guess who is on TV
[11:10] {fernp} QWERTY
[11:10] {strider} yes?
[11:11] {ilana} no, you were in the trade :-)
[11:11] {ese} are you an fitb follower?
[11:11] {magoo} hes setting a new 2 day record vad
[11:11] {ilana} no, out , in BBY now
[11:11] {strider} Scarlett Johannson?
[11:11] {Les} QWERTZ
[11:11] {dino} jennifer aniston?
[11:12] {Les} homer simpson?
[11:13] {dino} lol
[11:13] {dino} stewie griffen
[11:13] {ese} VAD!!!!! vads on tv?
[11:13] {ilana} my eyes!
[11:13] {Threei} hey
[11:14] {Threei} granted, I am not that aestetically pleasing that everyone should drop whatever they do and run to TV to look at me
[11:14] {Threei} but not that ugly that I'd burn anyone's retina either
[11:14] {ese} ya can't ask a simple question around here vad....forget it
[11:14] {dino} you have a face for radio
[11:14] {strider} You're darker than I thought, vad.
[11:15] {ese} ah dino.........good one
[11:15] {dino} :)
[11:15] {Threei} OK... I hate you all... find yourself someone pretty to call stocks for you
[11:16] {Les} janifer anistan sounded good...
[11:16] {Les} jennifer
[11:16] {dino} indeed
[11:16] {ese} beauty lies in the eyes of the beholder vad.......and were definitely beholdin to ya
[11:16] {ilana} vad, you're pretty like your frogless princess calls
[11:16] {Threei} too late... I found my excuse
[11:17] {Threei} larisa, patience, ilana are new threei
[11:17] {ilana} what's with fitb?
[11:17] {ilana} im mean BBY
[11:17] {ese} was just thinkin that
[11:17] {ese} re fitb
[11:17] {ilana} oh then fitb too
[11:17] {patience} moi, pourquoi?
[11:18] {larisa} leave me out of this, please, calling stocks will give me wrinkles
[11:18] {Threei} ahha!
[11:18] {Threei} now you know why I am not so handsome anymore as I used to be 10 years ago
[11:18] {Threei} well, that and excessive drinking
[11:18] {Threei} and eating
[11:18] {Threei} and smoking
[11:19] {ilana} and trading
[11:19] {Threei} and general life enjoyment
[11:19] {ese} man.......i'm outta this now.........i can see trouble brewing
[11:19] {magoo} news DECK vad?
[11:19] {ese} don't want to jeopardize the shiskabob
[11:20] {Threei} nothing fresh mags
[11:20] {magoo} ty
[11:21] {Threei} President Obama: US on track to double renewable energy production by 2012
[11:22] {Les} from 1% to 2?
[11:22] {dino} at a cost equivilent of $200/b oil
[11:26] {ilana} didn't BBY turn to db?
[11:28] {Threei} it's rather four bottoms already
[11:28] {dino} osk dead, stopped .43 -.07
[11:31] {dino} deck sm l .00
[11:32] {fernp} BAC lod
[11:34] {Les} vad, bby 50 ma is 41.57
[11:34] {Les} you waiting for it to break that?
[11:35] {ilana} bby out + .13 ty vad
[11:35] {Threei} I don't see BBY as one more play here Les
[11:35] {Threei} welcome ilana
[11:35] {dino} dwa
[11:36] {Les} ok. out +.15 ty
[11:37] {Threei} what's with my math
[11:37] {Threei} or yours
[11:38] {Threei} how .85 entry gives +.15 here?
[11:38] {Threei} isn't it closer to .25?
[11:39] {Les} partialled out at .70
[11:39] {Les} exit .70 & .65
[11:39] {Les} nothing wrong with your math vad
[11:40] {Threei} ok... feeling better
[11:40] {Les} CAT good for another short?
[11:40] {Threei} 'cause you know, being called ugly and stupid in a span of single day...
[11:40] {dino} gj
[11:40] {Les} lol
[11:40] {dino} what's w/kss, aside from cramer liking it?
[11:41] {Threei} don't see any setup on CAT
[11:41] {Threei} nothing more dino
[11:41] {dino} ebix sm l .63
[11:43] {fernp} BAC breaking
[11:44] {strider} WFC
[11:45] {strider} I'm still short at .04 from 11:10
[11:45] {dino} arst
[11:48] {Threei} (US) Treasury Sec Geithner: Bank TARP repayments now total $185B, confidence is being restored in banking system
[11:48] {Threei} - Reiterates that govt never intended to be long-term shareholders in banks.
[11:51] {strider} VAd..advice please. short WFC from 11:10 at .04. Stop at .21. bounced of it several times. hanging tough at b/e now. Should I adjust my stop?
[11:56] {dino} amed
[11:57] {strider} Did Vad go home?
[12:01] {Threei} sigh
[12:01] {Threei} I wish
[12:02] {Threei} .10 is more or less new resistance
[12:02] {strider} WFC?
[12:02] {Threei} yeah
[12:02] {Threei} I am not sure what setup you saw to short it there
[12:02] {strider} should I just go flat?
[12:03] {Threei} I can't tell because I don';t underdtand the trade itself
[12:03] {dino} whatever you do, don't make it larger
[12:03] {Threei} thus I can't tell if it goes right or not
[12:03] {Threei} I am looking at 11:10 and don't see any setup there
[12:04] {dino} put hard stop in and move on, if it stops it stops
[12:04] {Threei} heck, I don't eve see it printing anything lower thhan .06 on that minute
[12:05] {strider} sorry. Entry was at 10:50
[12:05] {strider} break of suport at 10:39
[12:05] {Threei} OK... not delighted b y setup but at least it makes sense now
[12:06] {Threei} I'd trail it to above .10
[12:06] {strider} k
[12:07] {strider} I think I've had a short bias on WFC today, because of the new stock priced at 25.00.
[12:08] {dino} "what do you believe that isn't true"
[12:09] {Threei} whateveryone knows isn't worth knowing
[12:09] {strider} I know. Was just explaining probably what was going on.
[12:10] {strider} stoopped at .11
[12:10] {strider} also stopped.
[12:15] {dino} fds
[12:20] {Threei} don't anyone accidentally flick the market.. it frozen so aloid, it will just shutter
[12:22] {Threei} BBY new break... something must have happened somewhere, pace picked up suddenly
[12:23] {ese} am back......hmmmmmmm stopped out fitb i see .00 -.04
[12:23] {fernp} 20 min later +.05 on BAC
[12:23] {fernp} woooooh
[12:24] {ese} better than a kick in the pants
[12:24] {fernp} yeah
[12:24] {Threei} I'd say, it's much quicxker than I expected, fern
[12:25] {Threei} here is what sped things up for you:
[12:25] {Threei} BAC Ticks to low of day on vague chatter Merideth Whitney has placed a $7 PT on BAC
[12:26] {fernp} thanks Merideth
[12:36] {Les} gold miners hitting lod's. b/d to come?
[12:37] {Threei} name a stock so we could seee a chart and decide whethere there is a setyup;
[12:37] {dino} $ up
[12:37] {Threei} how can such general question be answered
[12:38] {fernp} GDX is gold miners ETF
[12:39] {Threei} Preview: Dec NAHB Housing Market Index due out at 1pmET
[12:39] {Threei} **consensus expectation: 18e v 17 prior
[12:39] {Threei} - estimates range from 17-20
[12:40] {fernp} AUY on lows... but it is AUY :)
[12:40] {Threei} yeah
[12:40] {Threei} I don't see setup on GDX itself
[12:40] {Threei} AUY has one,
[12:41] {Threei} but it's way too narrow and slow
[12:42] {Les} just putting out shorting ideas. gg, auy
[12:42] {Les} dinner time...
[12:43] {Threei} GG on .50 was more attractive
[12:43] {Les} that was the idea of mentioning the shorts
[12:43] {Les} if someone found something to short...
[12:44] {strider} WY
[12:44] {fernp} AUY almost 1:1 and 12 break on daily in atractive
[12:44] {Les} you took auy fern?
[12:44] {fernp} no, just looking at it
[12:45] {strider} possible support 43.50 WY
[12:45] {strider} 43.57
[12:45] {strider} current price.
[12:48] {larisa} CAT lod, RIMM hod
[12:50] {strider} NAHB housing market index at 1PM
[12:55] {fernp} ADBE hod ... earnings release after the close
[13:00] {Threei} DEC NAHB HOUSING MARKET INDEX: 16 V 18E
[13:03] {dino} fds sm l .68
[13:03] {dino} deck tyo .49
[13:04] {dino} to
[13:05] {dino} to .57
[13:06] {dino} out .59, +.59 deck
[13:06] {larisa} gyj
[13:06] {larisa} :)
[13:06] {dino} thx
[13:09] {dino} fds was only 100 testing
[13:09] {Les} FCX
[13:19] {nemo} so...what I miss, or AWIAV
[13:19] {Threei} were you here for BBY short?
[13:19] {nemo} yes
[13:20] {Threei} then nothing much
[13:20] {nemo} did anybody toake the fcx short at 12:17?
[13:20] {Les} night all. sigh - christmas dinners begin this evening
[13:20] {Threei} take care les
[13:21] {nemo} frohes Weihnachten Les
[13:21] {dino} have fun les
[13:21] {fernp} bye Les
[13:21] {strider} WY may be forming a bottom of some sort.
[13:21] {strider} hopefully c&h
[13:21] {nemo} what's with pru today
[13:21] {dino} fds...
[13:22] {fernp} 500 min later... 500 min later... AUY 1:1 lol
[13:22] {nemo} bby crashing
[13:22] {nemo} well, fender bender
[13:23] {strider} what you think of WY, Vad?
[13:23] {Threei} I would leave it alone
[13:23] {dino} bby i like 40.50 area
[13:23] {Threei} daily and intaraday conrtradict each other
[13:24] {dino} fds will add if breaks .25
[13:27] {dino} forget that for now
[13:27] {Threei} reamliner is taking off
[13:27] {Threei} dreamliner
[13:27] {nemo} fcx short break of .44?
[13:27] {nemo} might be bottom though
[13:28] {Threei} rea;ly no idea... 50/50
[13:30] {nemo} several tests of 45
[13:30] {ese} gotta go......it's been one of those.......oh well we'll give it another shot tomorow type of days....cya
[13:30] {nemo} .45
[13:30] {Threei} take care ese
[13:30] {ese} cya vad
[13:30] {fernp} bye ese
[13:31] {larisa} bye ese
[13:31] {ilana} cya ese
[13:32] {fernp} HIG on lows
[13:32] {larisa} I am so bored, I might even consider allowing vad to tell a joke..
[13:32] {Threei} careful
[13:33] {Threei} I might just do it
[13:33] {larisa} lol
[13:33] {strider} daly looks good on HIG also, nemo
[13:33] {strider} daily
[13:34] {fernp} {nemo} yeah
[13:34] {magoo} vad, FDS news?
[13:34] {nemo} sorry
[13:34] {nemo} fakeouts
[13:35] {Threei} premarket earnings, mags
[13:35] {larisa} earnings FDS
[13:35] {Threei} 07:00 FDS Reports Q1 $0.74 v $0.74e, R $155M v $156Me; Authorizes $100M addition to share buyback
[13:35] {Threei} - Guides Q2 EPS $0.73-0.75 v $0.75e, Rev $154-158M v $158Me
[13:35] {nemo} looks like maybe b on hig
[13:36] {nemo} DB
[13:37] {nemo} pru if market picks up
[13:37] {strider} So...do you know how you sell a chicken to a blind man?
[13:37] {Threei} strange
[13:37] {Threei} HIG vs PRU
[13:37] {strider} HEY! DO YOU WANT TO BUY A CHICKEN?!!!
[13:37] {nemo} yeah, exactly
[13:38] {strider} deaf man...:)
[13:38] {strider} blew the joke}
[13:39] {strider} oh well......scoot over, vad. I need a spot in your cave.
[13:41] {dino} pbp?
[13:44] {Threei} ok strider
[13:44] {Threei} here I come to rescue
[13:44] {Threei} how do you put an elephant in the fridge im 3 steps?
[13:44] {strider} thank god
[13:44] {strider} dunno
[13:45] {Threei} open fridge,
[13:45] {Threei} put elephant in,
[13:45] {Threei} close fredge
[13:45] {Threei} now... how do you put a giraffe in the fridge in 4 steps?
[13:46] {ilana} may i may i may i
[13:46] {Threei} no!
[13:46] {strider} {-------reduced to stammering.
[13:46] {ilana} uh
[13:46] {Threei} come on
[13:46] {Threei} you already have elephant experiwence
[13:46] {Threei} giraffe should be easy
[13:46] {nemo} it's a bear trap
[13:46] {Threei} ok, hint:
[13:47] {Threei} open the fridge...
[13:47] {Threei} well?
[13:47] {strider} waiting with baited breath.....
[13:47] {Threei} oh, come on, it's easy
[13:47] {Threei} anyone?
[13:47] {ilana} there are still laughing at the first joke
[13:48] {Threei} lol
[13:48] {strider} ask nemo....he knows all about giraffes.
[13:48] {Threei} ok, if you all give up... but you'll be ashamed in a second seeing how easy it was
[13:48] {nemo} sheep are my specialty
[13:48] {Raven} {}
[13:48] {Threei} open the fridge...
[13:48] {strider} I didn't want to say that.
[13:49] {nemo} hey fcx consoliating
[13:49] {nemo} consolidating
[13:49] {nemo} Larisa
[13:49] {Threei} ilana, tell them...
[13:49] {Threei} FCX more looks like long to me nemo
[13:49] {nemo} yes
[13:49] {nemo} I agree
[13:49] {larisa} not happy with a joke. it is hundred years old
[13:49] {Threei} take the elephant out,
[13:49] {Threei} put the giraffe in
[13:49] {Threei} close the fridge
[13:50] {fernp} lol
[13:50] {Raven} rofllllllllllllll
[13:50] {Threei} larisa, it was intended to save strider
[13:50] {dino} why don't cannibals like clowns?
[13:50] {ilana} wow
[13:50] {Threei} so it had to be worst than his
[13:50] {larisa} lol
[13:50] {Threei} and it was not easy
[13:50] {dino} taste funny
[13:50] {Threei} lol
[13:51] {Threei} ok, last one and I'll go to sleep for 30 min, then try to find a trade
[13:52] {strider} Oh, you mean the first one is overe?
[13:52] {Threei} guy with horryfing stutter stops a passerby and asks with huge troubles spending like 3 minutes to get it out
[13:52] {Threei} could tell me where do I find a school for stutterers?
[13:53] {Threei} passerby waits patiently,
[13:53] {Threei} then asks with visible puzzlemenet:
[13:53] {Threei} why do you ned such a school? You stutter beautifully witholut any trasining
[13:53] {fernp} lol
06[13:53] * nemo slaps Threei around a bit with a large lead pipe
06[13:54] * Threei fainst for the next 30 minutes
[13:54] {larisa} lol
[13:57] {strider} you watching GEF, dino?
[14:00] {Threei} FCX worked like charm
[14:00] {nemo} yep
[14:01] {dino} am now, lol
[14:03] {strider} you're welcome!
[14:03] {strider} :)
[14:04] {strider} wicked daily chart.
[14:04] {dino} look at 5 day, double bottom, mat=ybe, report wasn't bad
[14:04] {dino} maybe
[14:08] {dino} sm l gef .50
[14:11] {Threei} MET
[14:11] {Threei} let';s see if we get little bounce, then .60 break
[14:11] {Threei} stop above .70
[14:13] {fernp} GY if breaks .10, vad?
[14:13] {Threei} I think so
[14:13] {fernp} ok
[14:13] {Threei} MET is good and ready
[14:14] {Threei} Short Setup: MET .60 break if stays below .70
[14:26] {Threei} MET, enough of this baiting eyelaches at me
[14:26] {nemo} batting
[14:26] {Threei} what did I say?
[14:26] {Threei} ah
[14:26] {strider} nobody knows.
[14:26] {Threei} yeah'and eyelashes
06[14:26] * Threei slaps strider around a bit with a large dictionary of Threeish
[14:27] {strider} Thanks. I needed that.
[14:27] {Threei} always
[14:27] {Threei} count on me
[14:27] {Threei} and nemo with his lead pipe
[14:28] {nemo} need lead with your head
[14:29] {strider} CS halted for news pending
[14:29] {strider} Met looks like it's halted too....sympathy?
[14:31] {fernp} shorted HIG .84 MET and HIG are the same torture
[14:36] {Threei} most anal-retentive can trail the stop to above ,65
[14:38] {nemo} volatile day
[14:39] {Threei} 1:1
[14:39] {Threei} princesses 4 frogs 1
[14:39] {strider} out +.14 from aggressive entry
[14:39] {fernp} out MET ty
[14:40] {Threei} that frikin RIMM short just had to shake us out by 2 cents before dropping eh?
[14:40] {Threei} just to spoil the record
[14:41] {jmb} Thanks Vad
[14:41] {Threei} jmb :)
[14:44] {Threei} hmmm
[14:44] {nemo} gld short vad?
[14:44] {nemo} yep
[14:44] {Threei} between my promise to faint for 30 minutes and call, just 20 minutes went
[14:44] {fernp} come on HIG, come with daddy!! I wanna go home
[14:44] {nemo} so..you lied
[14:45] {Threei} honest mistake'but we will have to rectify it
[14:45] {Threei} I take the call back
[14:45] {nemo} ha ha ha
[14:45] {Threei} all those who profited from it, you'll have to return the money
[14:45] {Threei} into the market
[14:45] {nemo} long bby should do it
[14:45] {strider} I prepaid for mine, vad. Last week.
[14:46] {Threei} lol
[14:46] {Threei} don't do it strider - that was a good one, and you are not supposed to do good jokes
[14:46] {Threei} neither am I for that matter
[14:46] {strider} Really? I thought my jokes were terrific.
[14:46] {nemo} leave that to me
[14:46] {Threei} larisa will be sorely disappointed as she expects only bad ones from me
[14:47] {strider} Actually I don't remember telling any before that bomb today.
[14:47] {Threei} of course they are strider, of course they are
[14:47] {Threei} that's what I tell myself too
[14:47] {strider} thank you...thank you very much.
[14:47] {Threei} and hey, it works
[14:47] {Threei} I laugh at them
[14:47] {strider} I think you should just type them out in Russian......be funnier that way.
[14:48] {Threei} and when I totally run out of fresh material, I just return to dino's large moth
[14:48] {strider} Hey, I was getting ready to tell that one.
[14:48] {Threei} that would be a discrimation
[14:49] {Threei} why only larisa and ilana should suffer if I can torture you all
[14:49] {strider} CS re-opens,
[14:50] {Threei} Credit Suisse Group Trading halted; Confirms settlement talks with New York DA over USD payment probe, to pay around $536M in fines
[14:50] {Threei} - Expects to record an additional pre-tax charge of CHF445M in current quarter before tax, CHF360M after tax.
[14:51] {fernp} out HIG +.10
[14:51] {Threei} finally
[14:51] {Threei} wtfg
[14:51] {Threei} ummm
[14:51] {Threei} -f
[14:51] {Threei} lol
[14:51] {nemo} wtgf
[14:52] {strider} Re-watched a favorite movie last night, and think that this room should be renamed Anatevka. Sound familiar?
[14:52] {nemo} Asylum?
[14:52] {Threei} what's that?
[14:52] {strider} A fiddler on the roof...
[14:52] {strider} Sounds crazy, no?
[14:52] {strider} But here, in our little village of Anatevka,
[14:52] {strider} you might say
[14:52] {strider} every one of us is a fiddler on the roof.
[14:52] {strider} Trying to scratch out a pleasant, simple tune
[14:52] {strider} without breaking his neck.
[14:52] {strider} It isn't easy.
[14:52] {strider} You may ask,
[14:52] {strider} why do we stay up there
[14:52] {strider} if it's so dangerous?
[14:52] {strider} Well, we stay because
[14:52] {strider} Anatevka is our home.
[14:52] {strider} And how do we keep our balance?
[14:52] {strider} That I can tell you in one word!
[14:52] {strider} Trade-ition!
[14:53] {patience} very nice strider
[14:53] {strider} I did change the last word a bit.
[14:54] {fernp} out GY +.08
[14:54] {fernp} is my fate, slow ones but profitables :)
[14:55] {Threei} cry me a river
[14:55] {strider} what a terrible fate, fern :)
[14:55] {strider} patience, no one likes my idea.
[14:55] {fernp} lol. im tired. good evening everybody. see u all tomorrow
[14:55] {strider} or hasn't seen the movie.
[14:55] {Threei} wait
[14:55] {Threei} you have to listen to one more bad joke
[14:55] {fernp} ok
[14:56] {Threei} in our household dad decides everything,
[14:56] {Threei} mom only decided who to make dad
[14:56] {Threei} ok... go
06[14:56] * magoo slaps Threei around a bit with a large trout
[14:56] {Raven} rofllllllllll
[14:56] {Threei} ty
[14:56] {Raven} yw
[14:56] {ilana} i think MET is not done yet from here
[14:57] {Raven} but I've almost had enough
[14:57] {fernp} at least it was short. TY see you
[14:57] {Threei} maybe Ilana, but they won't forgive me another MET call
[14:57] {strider} I give up.
[14:58] {nemo} So, a recently married couple are sitting in the bedroom and the guy throws his jeans across his wife's lap and says, "Put those on."
[14:59] {nemo} Wife looks at him quizzically, and puts them on and says, "They don't fit, you could fit three of me in here."
[14:59] {nemo} Husband says, "That's right. I wear the pants in the family, and don't ever forget it!"
[14:59] {nemo} So, wife sits there for a second with a pissed look on her face.
[15:00] {nemo} She grabs her pants and throws them at him, "Try those on!"
[15:00] {nemo} Guy says, "I can't even get one leg in them."
[15:01] {nemo} She says, "That's right. And if you EVER want to get in them again. Remember I WEAR THE PANTS IN THE FAMILY!"
[15:01] {strider} groannnnnnn................
[15:01] {Raven} sigh
[15:01] {Threei} see raven?
[15:01] {Threei} and you thought I was bad
[15:02] {Raven} it is all bad
[15:02] {nemo} DPWFL
[15:02] {Threei} I just realized that my jokes to be funny require two conditions
[15:02] {Threei} 1. you are drunk
[15:02] {Threei} 2. you don't hear me
[15:03] {nemo} That's your singing
[15:03] {strider} I think that's where you're messing up, vad. It's US that are supposed to be drunk. Not you.
[15:03] {nemo} [15:02] {&Threei} 1. you are drunk
[15:03] {Threei} yup
[15:04] {nemo} what part of "you" don't you understand?
[15:04] {strider} Zoooom! Right over nemo's head.
[15:04] {patience} sigh, no trades for me today.....not my type of market
[15:04] {nemo} well, I am kinda' short
[15:05] {strider} Believe it or not, GE spike.
[15:05] {nemo} WTF momo
[15:05] {nemo} Magoo
[15:05] {strider} patience, I commend you for your, ah......patience.
[15:05] {nemo} ese...rim shot
[15:05] {nemo} no ese
[15:06] {Threei} GE Sees 2010 industrial profits flat, expects Q4 orders to strengthen - analyst day slides
[15:06] {Threei} - Worst is behind us in financial services.
[15:06] {Threei} - Could see more restructuring through 2010
[15:06] {Threei} - ... (15.76, -0.19, -1.19%) more...
[15:06] {Threei} - Expects to hold $23-26B in cash in 2010
[15:06] {Threei} (US) Fed Chairman Bernanke: Responds to Senator Bunning, notes regulation may be better than rate policy for addressing bubbles
[15:06] {Threei} - Resource slack remains substantial
[15:06] {Threei} - Fed was too optimistic about unemployment back in May
[15:06] {Threei} - liquidity and credit programs will not spur inflation
[15:08] {Threei} notes regulation may be better than rate policy for addressing bubbles
[15:08] {nemo} .30 range in Qs today oy
[15:08] {Threei} is this the first time ever Fed admitted rates maanipulation may not be the universal answer to everything?
[15:10] {strider} That's only half the answer. The other half is printing money.
[15:11] {Threei} look at AET
[15:11] {Threei} decisive moments in health care bill fate
[15:12] {strider} MET long herre?
[15:13] {Threei} nah
[15:13] {nemo} aet sitting on 200 ma
[15:14] {Threei} guess who is on TV
[15:14] {strider} Rimsky Korsakoff.
[15:14] {nemo} his coffin maybe
[15:15] {nemo} aet just dropped
[15:15] {Threei} is the guy behind his shoulder drunk or high?
[15:15] {Threei} look at the glassy eyes
[15:15] {nemo} high, they'd be bloodshot if he were drunk
[15:16] {Threei} said nemo turning mirror away
[15:16] {nemo} going to work out, no drinking
[15:16] {strider} He's dying to get at that twinkie in his coat pocket.
[15:16] {Threei} lol
[15:17] {Threei} Reportedly FTC and FDA have proposed banning advertising focused on children for foods with excess sugar
[15:17] {Threei} - foods with more that 13 grams of added sugar per normal serving ar being singled out
[15:18] {strider} That's no problem. They'll just reduce the claimed 'serving size'.
[15:18] {strider} Already, 3 potato chips constitues a 'serving.'
[15:19] {strider} constitutes.
[15:19] {strider} I usually eat between 60 and 80 servings of chips.
[15:23] {strider} jeez
[15:23] {dino} i could go for some chips
[15:23] {strider} and magoo get get the beer.
[15:23] {dino} yes
[15:24] {strider} we'll all be right over.
[15:25] {strider} lookking for a bottom, vad?
[15:28] {Threei} not sure yet
[15:29] {dino} gef stopped -.31
[15:30] {nemo} fcx pivot is .22
[15:30] {nemo} if market right and we get some consolidation here, could be good short
[15:31] {nemo} damn
[15:31] {nemo} probably going to .80
[15:32] {Threei} it bounced right back
[15:32] {Threei} if you want it it's available
[15:33] {nemo} looks like it wants that pivot
[15:43] {dino} apparently i do not understand fds
[15:44] {Threei} I don't understand FDR either
[15:44] {nemo} he's dead
[15:44] {Threei} maybe that's why...
[15:44] {Threei} MET sudden death
[15:48] {Threei} Eric Cantor on TV
[15:48] {Threei} first time in ages I hear exact cause for the crisis pineed down
[15:48] {nemo} are you being facetious?
[15:49] {Threei} no
[15:49] {strider} {decidely not funny joke}
[15:49] {nemo} I was waiting for that
06[15:50] * strider slaps nemo around a bit with a large bag of {decidely not funny joke}.
06[15:50] * nemo slaps strider around a bit with a large balloon of {decidely not funny joke}
[15:53] {strider} I retire from the field. I can only aspire to such grossness.
[15:53] {nemo} You did a damn good job
[15:54] {strider} NO. I genuflect before your superior grossivity.
[15:54] {dino} gef sm l .40
[15:54] {strider} go gettim', dino.
[15:54] {Threei} ok, that crosses line of "needed to be edited out"
[15:55] {Threei} and janitor doesn't appreciate that
[15:55] {nemo} which one?
[15:55] {strider} Yes. I apologize for my part in that.
[15:55] {strider} The smaller part.
[15:55] {larisa} lol
[15:55] {nemo} fine...
06[15:56] * nemo slaps strider around a bit with a large balloon of HCL
[15:56] {nemo} that better Vad?
[15:56] {nemo} I wonder if cat stops at .19?
[15:57] {Threei} 4 minutes, and I am free of you...
[15:57] {Threei} so yes, it's better
[15:57] {Threei} and will be even better in 3 minutes
[15:57] {Threei} or should I says betterer
[15:58] {ilana} gooder
[15:58] {Threei} bester?
[15:58] {nemo} Guda
[15:58] {nemo} don't publish this blog
[15:58] {Threei} I will, and you be ashamed
[15:58] {nemo} I have none
[15:59] {Threei} what was I thinking...
[15:59] {nemo} obviously,,,,,,,,,you weren't
[15:59] {Threei} thank you all
[15:59] {Threei} have a good evening
[15:59] {strider} thanks vad.
[15:59] {Threei} see you tomorrow
[15:59] {nemo} P&Q
[15:59] {larisa} bye all
[15:59] {ilana} bye
[16:00] {dino} out gef .28 -.12
[16:00] {dino} will work on that tomorrow
[16:01] {dino} ebix, kss, bby, deck, fds, gef watching tomorrow
[16:02] {ilana} lock the door behind you, dino