Feb 27 2009

The two weeks-long winning streak continued today. Wasn't an easy day by any means though - slightly up, slightly down for a good half of the day until a few good trades finally turned day green. Nothing outstanding, but I'll take it in today's directionless choppy market.

Session Time: Fri Feb 27 00:00:00 2009

[08:09] {magoo} morning

[08:12] {nemo} magus

[08:12] {magoo} nem:)

[08:22] {nemo} Seen FAZ?  I guess Obama and the rescue plan ain't cutting it this morning.

[08:26] {magoo} wish i could ca5tch one of those moves

[08:26] {magoo} catch

[08:28] {nemo} volumes are so tiny pre market.  FAS would be better on either side.

[08:38] {nemo} frickin' energizer bunny FAZ

[08:39] {Onix} gm all

[08:44] {cujo} good morning all.

[08:46] {magoo} wheres our fearless leade?

[08:46] {nemo} Good question?

[08:46] {nemo} Who's got his phone number

[08:46] {magoo} and i dont mean cujo he he

[08:47] {nemo} don't piss off the rabid dog

[08:49] {cujo} dog has a sore throat this morning....

[08:50] {patience} good morning RT  :)

[08:54] {magoo} morn patience..are u the "lone" lady in room  lol?

[08:54] {patience} what about fernp

[08:56] {Threei}  Good morning

[08:56] {nemo} Sleepy head, how are you?

[08:56] {Threei}  hmmm... OK I guess

[08:57] {Threei}  my alarm, not so sure

[08:57] {cujo} morning Vad

[08:57] {hawkfan4} morning

[08:57] {Threei}  cujo :)

[08:57] {nemo} 7.62X39 problem?

[08:58] {Threei}  not sure what that is... I am familiar with 2x4 problem

[08:58] {nemo} AKM round

[08:58] {Threei}  is it C news that kill the market this morning?

[08:58] {buyemsellem} morning

[08:58] {Threei}  buyem :)

[08:58] {cujo} morning buyem

[08:59] {nemo} only thing I see

[08:59] {hawkfan4} think so vad

[08:59] {Threei}  ty hawk

[08:59] {nemo} this GDP report might not be helping either

[09:01] {Threei}  C

[09:01] {Threei}  CEO PANDIT: WHAT WE ANNOUNCED TODAY WAS NOT EASY GIVEN EXPECTED DILUTION, BUT CONFIDENCE IS KEY AND MOVE BUILDS CONFIDENCE

[09:01] {Threei}  yup

[09:01] {Threei}  confidence is abundant

[09:01] {nemo} on trader tax, found this post:

[09:01] {nemo} Traders Tax Update

[09:01] {nemo} Here is an email I received in response to the post about the traders tax.

[09:01] {nemo} hey brian, i am a board member with the boston securities traders association. we met with congressman barney frank last thursday to discuss the ftt proposal. he assured us that it was off the table for this presidential cycle (the next 4ish years.) he said that the only way it would be enacted is if wall street doesn't pay back its share of tarp funds. our stance (obviously) is that it would be extremely detrimental to the mkt efficiency a

[09:01] {nemo} our other agenda items were the short sale ban and the uptick rule.

[09:01] {nemo} thx for all you do. i am an institutional trader covering some big mutual funds and hedge funds. you ideas are extremely insightful.

[09:01] {nemo} hope that info helps.

[09:01] {nemo} Gives us enough time to move to the Bahamas

[09:03] {Threei}  Q4 PRELIMINARY GDP ANUALIZED: -6.2% V -5.4%E; PERSONAL CONSUMPTION: -4.3% V -3.7%E

[09:03] {Threei}  whole issue is tradertax's self-hype

[09:04] {nemo} Alright, call me glass half-empty, I don't believe in a benevelent government

[09:04] {nemo} benevolent

[09:04] {Threei}  netier do I

[09:04] {Threei}  but this is not a matter of benevolence

[09:04] {Threei}  this is a matter of who benefits

[09:04] {Threei}  in this case, nobody

[09:05] {Threei}  not a first time btw... I saw different entities in our industry trying to get a lot of atention by attempting to become leaders in uniting traders againstr something

[09:07] {Threei}  one even went as far as trying to organize trader's union {G}

[09:08] {pita} gm everyone, happy Friday

[09:08] {Threei}  pita :)

[09:12] {cujo} long SH .03 small lot.

[09:12] {dino} gm all, end of days again i see. nothing like wiping our the preferred before thev common on citi

[09:12] {dino} worked so well w/fre, fnm

[09:14] {Threei}  dino :)

[09:15] {Threei}  BAC is smacked down good

[09:16] {magoo} went under 4 vad

[09:16] {Threei}  yeh

[09:16] {fernp} Hello everybody

[09:16] {magoo} i sent u a wake up email lol

[09:17] {Threei}  fern :)

[09:17] {ese} morning

[09:17] {Threei}  sigh... that was fery intursive :)

[09:17] {Threei}  ese :)

[09:17] {Threei}  be back in 6

[09:18] {dino} 6?, used to be 5, slowing down?

[09:18] {nemo} two cigarettes

[09:19] {dino} :)

[09:19] {nemo} looks like it might be a bohica morning

[09:20] {nemo} 3 more minutes

[09:20] {dino} rule 1 guys, remember it today

[09:21] {cujo} what is rule 1 again?  we don't talk about fightclub?

[09:21] {nemo} what? don't forget the money?

[09:21] {dino} you must stay in the game

[09:21] {vint} good morning all

[09:21] {cujo} got it. 

[09:21] {dptl} good morning all

[09:21] {nemo} so, keep you chin down, and duck

[09:21] {nemo} two minutes

[09:22] {nemo} one minute

[09:23] {Threei}  vint, dp :)

[09:23] {nemo} right on time

06[09:23] * Threei slaps nemo around a bit with a large chronometer

[09:23] {nemo} You should go for swiss citizenship

[09:23] {nemo} or...run the trains in Germany

[09:23] {Threei}  too much socialism

[09:24] {Threei}  although we are going rith there too

[09:24] {nemo} and...we live in what?

[09:24] {magoo} [09:24] {&Threei}  too much socialism

[09:24] {nemo} check that..and wel live in what, comrade graifer

[09:24] {magoo} gonna get worse..can we profit is all?

[09:25] {cosmo} cheer up ... i say the glass is 1/3 full

[09:25] {nemo} Do you define profit as what you make trading, or what the IRS leaves for you at the end of the year?

[09:25] {nemo} cosmo...that's because you have to give the other 2/3s to Washington

[09:26] {gen} gm all

[09:26] {Threei}  too much theory for the Friday morning...

[09:26] {Threei}  gen :)

[09:26] {gen} Vad :)

[09:26] {nemo} funny...I thought I was bitching...channeling Magoo

[09:26] {magoo} thats cause someone is tired

[09:27] {Threei}  no, that's because thinking hurts

[09:27] {dino} fslr 100

[09:27] {Threei}  let's skip first minutes guys

[09:27] {nemo} Mmmmh...I was wondering what that pain in my ass was?

[09:27] {Threei}  eqzaktly nemo

[09:27] {Threei}  it causes widespread pain

[09:28] {nemo} subtle

[09:29] {ese} fslr looks promising dino

[09:29] {cosmo} gee....as a U.S. tax payer, i must be a majority share holder in C

[09:29] {cosmo} lets see......hmmmm

[09:29] {nemo} I wonder if we'll get a dividend check...thinking again :(

[09:29] {dino} es, stay away imo it goes to 80s

[09:30] {ese} done

[09:31] {cujo} stopped SH

[09:31] {cujo} -.24

[09:32] {dino} new s/p, ndk lows

[09:32] {dino} opps ndx broke mon lows, 1018 nov low

[09:32] {Threei}  watching STT

[09:33] {dino} 8.50 ge

[09:33] {dino} rimm, vz not bad

[09:34] {magoo} any read DECK vad? murdered afterhr

[09:35] {Threei}  jumped off 24 faster than I could type...

[09:35] {Threei}  too volatile mnags

[09:35] {dino} edu's up, apol, cpla, ceco, esi

[09:36] {Threei}  C

[09:36] {Threei}  GOLDMAN ANALYST: AVOID CITI SHARES; CITI MAY NEED TO SEEK FURTHER FUNDING (TIMING UNCERTAIN)

[09:36] {Threei}  ugh STT

[09:36] {magoo} jesus

[09:36] {magoo} thats funny..lost is REALLY lost

[09:37] {cujo} c

[09:41] {cosmo} CAT bounce?

[09:41] {nemo} it bounced alright

[09:42] {cosmo} SNDA

[09:43] {cosmo} 29.50 pivot

[09:43] {cosmo} maybe

[09:44] {ese} with all the selling goin on the market ain't going that far down.....blood from a stone theory

[09:44] {Threei}  can't get a feel so far, bounce or smakcdown

[09:44] {Threei}  stomach says smackdown

[09:44] {nemo} should start showing it's hand after 10

[09:45] {Threei}  FEB CHICAGO PURCHASING MANAGERS INDEX: 34.2 V 33.0E

[09:45] {dino} same feel here vad

[09:46] {dino} sitting and waiting some more

[09:46] {Threei}  me too

[09:46] {ese} me three

[09:46] {dino} rimm, aapl, mcd green

[09:46] {dino} wmt too

[09:46] {dino} fdo, dltr

[09:46] {ese} although i have been accumulating some stocks at these levels

[09:47] {dino} gl

[09:47] {ese} eslr for one 5000 shs of it in the 2 dollar range

[09:47] {Threei}  I don't know about that one ese...

[09:47] {Threei}  it's fighting for survival

[09:48] {dino} wow, solars in this environment, gutsy move imo

[09:48] {cujo} PALM thriving

[09:48] {ese} Hero for another another 5000 shs $1.50

[09:48] {dino} orders are dropping like crazy at spwr, fslr

[09:48] {Threei}  ESLR may run out of money by the summer

[09:48] {ese} ya thats possible

[09:49] {pita} but then the sum will come out and recharge them

[09:49] {pita} sun

[09:49] {Threei}  either that, or eternal darkness will cover it forever

[09:50] {cosmo} their new cells will pick up infrared though

[09:50] {dino} you know, if obama can get interest rates up to 14%, this would be just like carter all over

[09:51] {nemo} has to happen at some point

[09:51] {Threei}  and he does have Volcker in his team

[09:51] {dino} feels familiar....and i am missing reagan

[09:51] {cosmo} i am

[09:51] {nemo} The more that things change, the more they stay the same...having said that they keep Volker on a short leash.

[09:52] {Threei}  ok, this is high time for the market to drop sharply

[09:52] {Threei}  if it doesn't, I still don't have a reliable read

[09:53] {cosmo} qqqq wants green

[09:53] {pita} watch list?

[09:53] {dino} ndx wants to fill open gap

[09:53] {Threei}  RIMM, BAC, STT

[09:54] {Threei}  from where I sit, what we have right now is retest of the high on dropping volume

[09:54] {ese} QQQQ almost has dino

[09:54] {Threei}  perfect moment for the trap

[09:54] {nemo} so the rug's about to come out?

[09:54] {Threei}  let's put it this way:

[09:54] {Threei}  if rug gets pulled now, this is the event I can read

[09:55] {Threei}  if not, it's something I have no playable scenario for

[09:55] {Threei}  FEB FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 56.3 V 56.0E

[09:55] {Threei}  wow... we have confidence?

[09:55] {Threei}  higher than estimate?

[09:57] {magoo} quite a pullbk FAZ vad

[09:57] {ese} .3 confidence....huge man huge!!!

[09:57] {magoo} can u readd it for bounce boss?

[09:57] {Threei}  magoo, FAZ is inverted market practically at this point

[09:57] {Threei}  if I have no read on the market, same goes for FAZ

[09:58] {magoo} right..so q crash..faz bounce

[09:58] {Threei}  and spike shows that I apprently don't

[09:58] {magoo} 100 shares 5 points

[09:58] {ese} what i'm finding interesting vad is looking at the stocks this morning on trade the news that have been cut to sell.......there going nowhere infact alot of them going up ESLR for example +.02

[09:59] {Threei}  that would be bottoming scenario ese...

[09:59] {Threei}  and I honestly find it very hard to believe the bottom is found

[10:00] {ese} i'm seeing it that way.....

[10:00] {ese} could be wrong but ......

[10:06] {Threei} Long Setup:  STT  half lot .55

[10:06] {Threei}  if stays above .35

[10:07] {dino} the problem i see es, is we only have like 6 positive days a month

[10:08] {Threei}  invalidated

[10:08] {ese} funny was just looking at that.......

[10:08] {cosmo} CAT bounce seems lively ....that's my gullible read....

[10:08] {dino} and of course ,new lows lower highs

[10:08] {ese} january no better

[10:08] {dino} right

[10:08] {Threei}  good... didn't really feel easy about this trade

[10:08] {Threei}  I still prefer a good pullback

[10:08] {dino} we just go straight down w/maybe 1 up/week, if that

[10:09] {Threei}  RIMM pulling back

[10:09] {ese} lower highs for sure....

[10:09] {dino} dji (which really doesn't mean much) new lows 

[10:10] {Threei}  OK, knowing the way STT moves, watching it for serious drop

[10:10] {Threei}  25.50 at least and most likely 25, before I get interested

[10:10] {Threei}  RIMM, 39.50 zone

[10:11] {dino} the only game changer i see, is m2m

[10:11] {ese} that sell off on the 20th...3rd biggest in a year....would be historic if we had a fourth

[10:12] {dino} anything can happen....and that statement has saved me a lot of $ thru this

[10:13] {ese} and your doin much better at this than i am dino......very much respect your opinion

[10:14] {Threei} Short Setup: RIMM  .14 half lot

[10:14] {Threei}  if stays below .30

[10:15] {Threei}  invalidated

[10:16] {magoo} quote server vad pl

[10:16] {Threei}  3

[10:17] {magoo} ty

[10:17] {Threei}  RIMM setup is back

[10:17] {Threei}  same conditions

[10:18] {nemo} in and out

[10:21] {Threei}  tough action to read

[10:21] {Threei}  NASDAQ green

[10:30] {ese} how do you get kicked if you are already on

[10:30] {Threei}  .long stt .85 if stays above .70

[10:30] {Threei} Long Setup:  STT  .85 if stays above .70

[10:32] {dino} gremlins attacked

[10:32] {Threei}  I have strong feeling this thing is going to break 27 and explode

[10:33] {Threei}  little market help is needed

[10:36] {Threei}  come on market... STT is holding so well, just little push

[10:37] {magoo} in btw

[10:38] {cujo} ditto

[10:38] {pita} double ditto

[10:38] {magoo} longer it takes i like it less

[10:41] {fernp} AMAT breakdown Vad?

[10:42] {Threei}  too narrow for my taste fern

[10:42] {fernp} ok

[10:43] {Threei} Long Setup:  HIG  .11 if stays above 6

[10:47] {magoo} wheres stt stop

[10:47] {Threei}  10:30] {Threei} Long Setup: STT .85 if stays above .70

[10:47] {magoo} sorry

[10:48] {Threei}  come on already STT, you know you want up

[10:48] {magoo} in hig miester

[10:48] {nemo} Violence Va

[10:48] {cujo} in HIGgy

[10:49] {Threei}  feels more than scalp, HIG

[10:50] {Threei}  let's try to partial who is up for the game

[10:50] {Threei}  over 1:1

[10:50] {dawg} dawg out half

[10:51] {magoo} kickin STT

[10:51] {pita} HIG 1:1 ty

06[10:51] * Threei kicks everything in the rear

[10:51] {cujo} any stop trail on HIG?

[10:51] {Threei}  pita :)

[10:51] {fernp} ty

[10:51] {Threei}  6.05

[10:52] {Threei}  new high, let's make it 6/09

[10:52] {Threei}  6.09

[10:53] {dino} itt sm l .10

[10:53] {magoo} must confess..out hig .22 ty

[10:53] {Threei}  full?

[10:53] {magoo} yup from .07

[10:54] {Threei}  okay

[10:54] {magoo} may reload 

[10:54] {magoo} wanted to bank it

[10:54] {cujo} STT wants it..

[10:54] {cujo} i can taste it...

[10:55] {Threei}  needs help by market...

[10:59] {Threei}  amazing how it's holding the line in the sand eh?

[10:59] {nemo} STT?

[11:00] {Threei}  yeah

[11:00] {cujo} its a plateau

[11:00] {Threei}  well... it's a salmonish plateau

[11:00] {nemo} or diving board

[11:00] {Threei}  Geo!

[11:00] {Threei}  welcome back

[11:01] {geo} :)

[11:01] {geo} good to be home ....

[11:01] {dino} gm

[11:02] {geo} hiya dino..... left anything for me to scrape off the floor?

[11:02] {dino} only hit one so far, cautious

[11:03] {dino} deck interesting

[11:03] {dino} mant too

[11:03] {geo} cool... i am rusty....

[11:03] {geo} Ty will look

[11:03] {Threei}  no worky

[11:03] {Threei}  too bad, this one was very promising

[11:04] {Threei}  was it a shake?

[11:04] {nemo} got a spike on volume there

[11:05] {pita} interpret spike?

[11:06] {nemo} who...me?

[11:06] {pita} anyone

[11:06] {nemo} Vad...

[11:06] {Threei}  those who accumulated shares during this consolidation exited as support got broken

[11:07] {Threei}  HIG, scalpers win

[11:07] {Threei}  1;1 was all

[11:07] {magoo} I WIN I WIN

[11:07] {magoo} GEOOOOOOOOOOOOOOOO

[11:07] {Threei}  lol

[11:07] {geo} hiya magoo

[11:07] {fernp} me too

[11:08] {Threei}  those pesky scalpers...

[11:08] {magoo} thats right..fern too

[11:08] {Threei}  not only they win, they gloat too

[11:08] {fernp} and covering AMAT here +.11

[11:09] {dino} gj

[11:09] {Threei}  btw... HIG formed same setup once again

[11:09] {pita} RIMM will 40 hold?

[11:09] {Threei}  only with tighter stop this time

[11:09] {Threei}  under .05

[11:10] {dino} lol citi chairman, "this should put nationalization fears to rest"....dino replies, "yes, as it just happened"

[11:11] {Threei}  lol

[11:11] {cujo} l aapl .64 stop .47

[11:12] {Threei}  hey, president on TV in 30 minutes

[11:13] {nemo} you're kidding?

[11:13] {Threei}  no

[11:13] {cujo} nice

[11:13] {Threei}  announcement on ending war in Iraq

[11:13] {dino} short 'em all

[11:13] {cujo} really?

[11:14] {Threei}  and you thought we would get our daily fix?

[11:14] {cujo} aapl stopped -.17

[11:14] {magoo} great ..lets give terrorists a timeline

[11:14] {nemo} freedom fighters, Mags

[11:14] {dino} yeah, we just have to hide for 18 months

[11:14] {Threei}  FED'S BULLARD: ENERGY PRICE 'SHOCK' WAS MAJOR DRIVER OF RECESSION IN 2008; MUST MEASURE INFLATION BETTER

[11:14] {Threei}  - Notes that when exclude prices that are rising, the Fed loses some credibility

[11:15] {Threei}  Fed loses credibility?

[11:15] {Threei}  nooooooo!!!

[11:15] {Threei}  say it ain't so

[11:15] {Threei}  my whole world comes down crashing

[11:16] {geo} VRTX 

[11:17] {dino} pharms are getting killed by obama geo, careful

[11:17] {geo} yeah

[11:17] {magoo} vad..feels like we should enter STT again just on pllbk

[11:17] {geo} IBB was given a shound beating yesterday

[11:18] {magoo} wghich is developing

[11:18] {nemo} maybe obama isn't a communist...he's an agrarianist...at this rate only farming will be left

[11:18] {patience} that's where the money is going nemo  :)

[11:19] {geo} hiya patience.....

[11:19] {geo} hows gold treating ya?

[11:19] {dino} well, not really patience over 500k no more subsidies

[11:19] {magoo} um vad

[11:19] {Threei}  ?

[11:20] {magoo} [11:17] {magoo} vad..feels like we should enter STT again just on pllbk

[11:20] {magoo} [11:18] {magoo} wghich is developing

[11:20] {patience} institutional money moving into ags again

[11:20] {Threei}  do you see any sign of bounce?

[11:20] {Threei}  I don't

[11:20] {magoo} no..i want u on it

[11:20] {nemo} JBI on STT

[11:20] {pita} HIG?

[11:20] {magoo} u are sluggish today so im helping u out

[11:21] {Threei}  no, tyou are pushing me into trade that isn't there

[11:21] {geo} i c nothing has changed

[11:21] {Threei}  HIG is bounce xcandidate as long as it's holding above 6 pita

[11:21] {geo} sigh... good to be back and feel the love

[11:22] {hawkfan4} lol 

[11:22] {Threei}  just can't count on it without market bounce, and it just not happening

[11:22] {dino} no time for bouncy bouncy

[11:24] {geo} SYK being sold nicely too

[11:25] {cujo} i think this might be the end of the world...  I actually agree with Kudlow...

[11:25] {geo} hmmm

[11:25] {nemo} nail the windows shut lock up the belt and the shoelaces

[11:26] {geo} oh yeah... not that the canadians care...... I became a permanent US resident last week....

[11:26] {geo} is my timing off ?

[11:26] {dino}  welcome aboard geo

[11:26] {geo} TY

[11:26] {Threei}  no, it's prefect Geo, country needs more taxpayers

[11:26] {geo} lol

[11:27] {geo} oh i have been doing that since 99

[11:27] {cujo} Vad, hard to become Canadian citizen?

[11:27] {geo} now i can get it back too

[11:27] {Threei}  oh, then no one cares :)

[11:27] {geo} lol

[11:27] {Threei}  not really cujo

[11:27] {Threei}  for american I mean

[11:27] {geo} its easy cujo

[11:27] {geo} i got one in 1.5 years sitting in los angeles

[11:28] {geo} no interview nothing

[11:28] {geo} its just going to toronto for christmas scared me

[11:28] {cujo} really?  Interesting...

[11:28] {cujo} why scared you?

[11:28] {geo} not citizen ship thoug cujo... permanent residency....

[11:29] {geo} you gotta live there to be citizen

[11:29] {geo} -15 windchill

[11:29] {cujo} ouch

[11:29] {cujo} use to live in Nebraska... Same thing.  -40 at some points.

[11:29] {cujo} with the wind

[11:29] {geo} oh then youre fine :)

[11:30] {geo} beautifull city..

[11:30] {dino} same here cujo in pa

[11:30] {Threei}  I don't think market is going to stay that narrow for very long

[11:31] {nemo} well, at least Obama should move the market one irection or the other

[11:31] {magoo} beautiful girls in quebec

[11:31] {nemo} how can you tell during the winter

[11:31] {cujo} YES

[11:31] {geo} and down to earth too

[11:31] {magoo} yup

[11:31] {cujo} rode motorcycle to quebec city once.  Was nice

[11:31] {cujo} but you have to speak french or "no worky" as vad puts it...

[11:31] {geo} i thought that was vad in french

[11:33] {dino} we will all be speaking french soon as we move to their system

[11:34] {geo} comeon guys.... why so glum

[11:34] {nemo} graveyard humor

[11:34] {geo} no matter what happens... the entrepreneurs will survive

[11:34] {dino} indeed geo, it's friday, be happy

[11:34] {geo} (just make sure you have guns)

[11:35] {nemo} volume is through the roof on DOW and S&P

[11:35] {geo} riding SYK and VRTX small

[11:36] {geo} man healthcare..... AMED

[11:36] {magoo} '[11:34] {geo} (just make sure you have guns)

[11:37] {magoo} dont worry..thats next on the agenda

[11:37] {geo} crap

[11:37] {magoo} assault rifle ban already getting lip srvice

[11:38] {geo} was reading economist article on russia.... their markets down 80%

[11:38] {nemo} yeah, this time they're saying they need to reinstate it because of guns flowing to Mexico in the drug wars...please...the Mexican governement is the drug cartel

[11:38] {geo} accusing us of "infecting" them

[11:38] {nemo} when things are bad you focus on external enemies to unite the herd

[11:39] {magoo} ala hitler

[11:39] {geo} hmmm

[11:39] {geo} IBM

[11:39] {nemo} choose anybody...they all use the same techniques

[11:39] {geo} wonder why

[11:39] {Threei}  because it works?

[11:40] {Threei}  watched Wag the Dog?

[11:40] {nemo} why fix what ain't broke

[11:40] {geo} y

[11:40] {nemo} scary movie

[11:40] {geo} hey patience.... whats your outlook on gold?

[11:40] {geo} i have a spread on

[11:41] {geo} been doing option spreads more due to office hours issues

[11:42] {hawkfan4} watching V if market goes

[11:43] {_paliyad2009} look at glw

[11:43] {Threei}  spike out of nowhere

[11:43] {dino} sm l apol .00

[11:43] {magoo} ty HIG boss

[11:44] {magoo} reloaded your second call .07

[11:44] {Threei}  welcme

[11:44] {magoo} out .21

[11:44] {patience} hi geo, nice to see you back.  i'm invested and swinging gold, scalping on a good volume day

[11:44] {geo} nice

[11:46] {geo} hmm banking down  but CS rocking

[11:47] {Threei}  OK, let's assume this is a pullback before another spike

[11:48] {Threei}  looking to enter STT around .50, BAC around .50, HIG around .10

[11:51] {Threei}  pres is late

[11:51] {nemo} if no pull back stt above .75  HIG .25  BAC .65 on C&H?

[11:52] {Threei}  here is pullback

[11:52] {nemo} yep

[11:52] {Threei}  and no, breakouts is not a viable strategy for today so far

[11:53] {nemo} o.k. ty

[11:53] {nemo} duh, actually

[11:53] {Threei}  OK. STT is there, watch for market to bootom out and reverse

[11:53] {Threei}  .30 is nearest support

[11:55] {magoo} u tryingt to call a trsade i forced on u??

[11:55] {magoo} as i run for rock

[11:56] {Threei}  is it me or mahgoo is twice as tiresome today vs normal day? {G}

[11:56] {magoo} its u...im doing half as much

[11:56] {magoo} alot of vodka last nite boss?

[11:56] {nemo} tough day Vad

[11:57] {nemo} Magoo just makes it worse

[11:57] {magoo} glass houses nemo:)

[11:57] {geo} yup just the kind of day to make DLTR rise

[11:58] {nemo} yeah

06[11:58] * nemo slaps nemo around a bit with a large with a baseball bat for Magoo

[11:58] {magoo} ty

[11:58] {nemo} welcome

[11:59] {Threei}  HIG bottomed out at 6.12

[11:59] {cujo} got a piece of that STT

[11:59] {Threei}  wasn't easy to read at the moment

[11:59] {fernp} in HIG 6.14

[11:59] {Threei}  good timing fern

[12:00] {magoo} in stt .48

[12:00] {Threei}  BAC bottomed out at .51

[12:00] {magoo} bac.54

[12:00] {geo} in stt .49

[12:00] {Threei}  don't know how much room they all have, prez is coming on TV

[12:01] {Threei}  but enries are very safe

[12:01] {fernp} close HIG here at 1:1?

[12:01] {Threei}  and all are slighlty in the money, excpet HIG which is nicely in the money for its size

[12:01] {Threei}  fern... honestly, with another speech in minutes, who knows :)

[12:01] {Threei}  it doesn't have much to do with market

[12:01] {nemo} bird in hand...been a tough day

[12:02] {Threei}  but market developed reflex on prez appearances

[12:02] {geo} shoot missed .7

[12:02] {dino} lphi sm l .75

[12:03] {Threei}  this is the right way to time your entries on such day

[12:03] {Threei}  breaks would be doomed

[12:03] {fernp} out HIG +.11

[12:03] {fernp} ty Vad

[12:03] {Threei}  wqelcome :)

[12:03] {Threei}  pullback took all our stocks exactly into support zones

[12:04] {Threei}  anthem

[12:04] {Threei}  see market dropping

[12:04] {cujo} out stt =.11

[12:04] {cujo} +.11

[12:04] {nemo} what's anthem?  Rand?

[12:05] {nemo} markets basically even

[12:05] {magoo} out here .69 TY STT

[12:05] {Threei}  and here is president

[12:06] {geo} wow STT

[12:06] {Threei}  welcome mags

[12:06] {geo} exited early

[12:06] {magoo} out BAC 

[12:06] {magoo} afraid of pres

[12:06] {Threei}  welcome mags

[12:06] {magoo} nice and easy BOSS

06[12:06] * Threei slaps magoo around a bit with a large bottle of Valium

[12:07] {cujo} l GS .16

[12:07] {Threei}  market forms breakout pattern on 1 min

[12:07] {Threei}  do we trust it?

[12:07] {magoo} always goes down when he speaks

[12:08] {magoo} can change but thats pattern

[12:08] {Threei}  US PRES OBAMA: IRAQ NOT 'SECURE', ARE STILL DIFFICULT DAYS LEFT IN IRAQ

[12:08] {Threei}  - Formally announces plans to remove US troops from Iraq by 2011 (Note: Media reports earlier today issued forecast of 50K troops to remain in Iraq)

[12:08] {Threei}  - Notes combat mission in Iraq to end by Aug 2010

[12:10] {cujo} stpd GS -.20

[12:10] {magoo} man..can u imagine if during WW2 obama was pres..end WW2 by aug 1943..would have saved alot of lives

[12:10] {nemo} American's yes,  Russian no

[12:12] {geo} heheheh

[12:12] {geo} PSA and DLTR

[12:12] {geo} public storae and dollartree rising

[12:12] {geo} how apt

[12:12] {nemo} PSA will have to convert to a pawnshop at some point

[12:13] {geo} airlines mulling toilet toll

[12:14] {nemo} new uses for stomach distress bags coming

[12:14] {geo} ryanair hehehe

[12:14] {geo} lol

[12:14] {Threei}  look at UAUA

[12:14] {Threei}  what a disaster

[12:17] {Threei}  RIMM...

[12:17] {cujo} riim is a runner

[12:17] {Threei}  nice strength

[12:17] {cujo} rimm

[12:19] {Threei}  what the deuce?

[12:20] {cujo} i say

[12:20] {nemo} RIMM pullback?

[12:20] {Threei}  .50 is nearest support

[12:20] {Threei}  but with these sudden market moves, I am not sure

[12:20] {cujo} so... how's that rally you been working on....  got a compelling economic theory.

[12:21] {cujo} hmm

[12:21] {Threei}  huh?

[12:21] {cujo} sry

[12:21] {cujo} family guy

[12:21] {nemo} the tv show?

[12:21] {cujo} yeah

[12:21] {dino} stewieeeeee

[12:21] {cujo} yup

[12:22] {nemo} stewie and the dog

[12:22] {Threei}  GMAC NOTES THERE REMAINS "SUBSTANDIAL DOUBT" THAT MORTGAGE UNIT RESCAP CAN CONTINUE AS A GOING CONCERN

[12:22] {cujo} http://www.youtube.com/watch?v=cuUBgkdFMqs

[12:23] {Threei}  ah... good one

[12:23] {nemo} yeah, I remember that one

[12:23] {cujo} fav

[12:23] {Threei}  stewies rising pitch is priceless

[12:23] {cujo} yes, funny little man in little red overalls...

[12:24] {nemo} the eyebrows

[12:25] {nemo} hehehehe

[12:29] {Threei}  RIMM, .60 nearest support, worth long on market uptick

[12:29] {Threei}  also AAPL

[12:29] {Threei}  right here

[12:29] {cujo} long now or longif oulls back to .60?

[12:29] {Threei}  with stop under 90

[12:30] {cujo} got ya

[12:30] {Threei}  just safe entries near support on market pullbackl

[12:31] {Threei}  market resumes, they'll work

[12:31] {Threei}  if not, stops are very tight

[12:31] {dino} athn

[12:32] {Threei}  all we need now is customary market spike

[12:34] {Threei}  nope...

[12:34] {Threei}  wrong way

[12:35] {wulff} wulff emerges to see his shadow

[12:35] {Threei}  more winter??

[12:35] {nemo} thought that was the groundhog?

[12:35] {Threei}  it was nemo... before wulff ate him

[12:36] {nemo} ohhhhhhhhh

[12:36] {Threei}  prez is done

[12:36] {wulff} came out to check my ego

[12:37] {nemo} next support .50 on RIMM

[12:37] {nemo} ?

[12:37] {Threei}  won't hold

[12:37] {nemo} so much for that

[12:37] {Threei}  yeah

[12:37] {nemo} 30 maybe?

[12:38] {Threei}  market is selling off, wh6y guess?

[12:38] {Threei}  chart pattern got broken

[12:38] {Threei}  wait for new one to form

[12:38] {wulff} don't make me say it 

[12:39] {Threei}  AAPL, if dives sharply into 89 will be worth a try for bounce

[12:41] {Threei}  in

[12:41] {Threei}  stop under 89

[12:44] {Threei}  not liking this long pause

[12:46] {Threei}  either double bottom or breakdown and panic

[12:47] {buyemsellem} not sure if I've seen a real panic selloff yet.  I'm making some popcorn right now

[12:48] {Threei}  more looks like double bottom now

[12:48] {Threei}  AAPL needs to break .30 to make it worthwhile

[12:48] {nemo} big volume spike three minutes ago

[12:53] {Threei}  out AAPL.40

[12:54] {dawg} good call on AAPL Vad in .22 out 36 ty

[12:54] {Threei}  :)

[12:55] {Threei}  overall, empty day... slightly up, slightly down, slightly up again

[12:55] {cujo} predicition time...

[12:56] {Threei}  not sure how but it must be magoo's fault

[12:56] {buyemsellem} Are things tranquil, or is something crazy about to happen?

[12:56] {nemo} nah...my fault

[12:56] {cujo} djia -250

[12:56] {Threei}  tranquil for a while, IMO

[12:56] {Threei}  but closer to eod some action will develop

[12:57] {buyemsellem} that has certainly been the pattern the last few days, late day sell offs

[12:57] {Threei}  yeah

[12:57] {nemo} both AAPL and RIMM coming back to support...possible shorts?

[12:57] {Threei}  AAPL is good 30 cents from support

[12:58] {Threei}  can't tell really

[12:58] {Threei}  market needs to form something again for me to get a read

[12:58] {Threei}  right now it's a mess

[13:00] {wulff} AAPL to breakeven

[13:00] {Threei}  sold too soon

[13:00] {Threei}  wulff?

[13:00] {nemo} in this market..still the right strategy to scalp?

[13:01] {wulff} yes

[13:01] {Threei}  you mean you are holding it and trailing stop?

[13:01] {wulff} yep

[13:01] {wulff}  sell in 90 maybe

[13:01] {magoo} out aapl .77

[13:01] {magoo} ty boss

[13:01] {Threei}  nemo... look at intraday chart... whaddoyathink? :)

[13:01] {Threei}  welcome mags

[13:01] {Threei}  fern... this time they beat us

[13:02] {magoo} i win I WIN

06[13:02] * Threei slaps magoo around a bit with a large prescription for Prozac

[13:04] {Threei}  market chart today is a creation of 4 years old with crayon

[13:07] {nemo} Sorry, put it the wrong way...given meandering market one in hand vs. two in bush still best way to go, that's the question and what seems to make sense

[13:10] {Threei}  that's how I understood it

[13:10] {nemo} That's what I was trying to confirm...english bad.

[13:12] {Threei}  we are in holding pattern... neither side knows what to do

[13:12] {nemo} so, just skirmishes testing defenses

[13:13] {Threei}  two conflicting ways to view current action

[13:14] {Threei}  one:

[13:14] {Threei}  we conttinue getting endless strem of bad news,

[13:14] {Threei}  but market doesn't gointo state on oanic

[13:14] {Threei}  and actually holding not too bad considering the circumstances

[13:14] {Threei}  another:

[13:14] {wulff} +50 on sm AAPL

[13:15] {Threei}  with all the stimuluses, bailouts, rescues, injections, etc,

[13:15] {Threei}  market slowly but still slides

[13:15] {Threei}  latter bodes for rally in preparation,

[13:15] {Threei}  sorry, former

[13:16] {Threei}  latter bodes for capitulatory pnicky selloff

[13:16] {dino}  gj wulff

[13:16] {Threei}  I don't know where my preference is at this point

[13:17] {Threei}  kind of wait-and-see for me

[13:18] {Threei}  C looks AIGy... FNMy... FREyish

[13:19] {Threei}  and BAC looks like just delayed version of C

[13:23] {ese} have a great wekend all   see ya monday

[13:23] {Threei}  take care ese

[13:23] {ese} see ya vad

[13:23] {Threei}  US OFFICIAL: THERE ARE NO CURRENT PLANS TO ASSIST MORTGAGE FINANCING COMPANIES

[13:23] {Threei}  meaning, they are fine or we have no idea how to help them?

[13:23] {Threei}  or we gave up?

[13:24] {Threei}  pace increases

[13:24] {Threei}  although direction is not established yet

[13:24] {Threei}  kind of running nowhere very fast

[13:26] {Threei}  so,anyone has point of view on two alternatives I decsribed?

[13:26] {cujo} the mortgage question Vad?

[13:26] {Threei}  no

[13:26] {magoo} i crazy...but still think we get a bear mkt 'ally for a month to suck everyone in again

[13:26] {Threei}  previous one

[13:27] {dino} risky sm l deck .40

[13:27] {Threei}  on market in general

[13:27] {nemo} the listless slide would mirror the Depression.  A capitulation would at lesast set up for a snap back rally, but for how long?

[13:27] {_paliyad2009} beer market rally?

[13:27] {cujo} i think you have optimistic people buying thinking we are at support and we will bounce off

[13:27] {Threei}  careful paliyad... word "beer" gets magoo overexcited

[13:27] {nemo} beer or bear?

[13:27] {cujo} but i think they will be proven wrong

[13:27] {magoo} bear

[13:28] {Threei}  that's the question... bear rally or just bear

[13:28] {_paliyad2009} time for beer

[13:28] {dino} bbbbbbbbbbbeer

[13:28] {magoo} as in month up..giddy commentators..rush in buy buy

[13:28] {magoo} pow..back to this level

[13:28] {nemo} gotta' do it before sell in May

[13:28] {Threei}  see, this holding pattern can't continue for very l,ong

[13:28] {cujo} {cujo} djia -250

[13:29] {Threei}  either we rally hard or panic sets in

[13:29] {magoo} correct nemo

[13:29] {magoo} sometime in march...up we go..everyone thinx bottom s in

[13:30] {Threei}  I find myself capable of arguing both sides of the argument at this point and be very convincing, LOL

[13:30] {nemo} should we call you Janus?

[13:30] {magoo} but then pow..everyone quits

[13:30] {dino} i just don't know anymore

[13:31] {magoo} can we make good money regardless is the issue

[13:31] {dino} yes

[13:32] {nemo} need a little range though

[13:32] {Threei}  haven't we?

[13:32] {nemo} speaking about today

[13:32] {Threei}  today is finishing two weeks long winning streak

[13:32] {Threei}  today is not stellar, to be sure

[13:33] {nemo} yeah, no big deal...If you were a baseball player, they'd walk you every time you came to bat, even with no outs.

[13:33] {Threei}  GE

[13:33] {Threei}  CNBCS' FABER: CUTTING DIVIDEND TO $0.10 FROM $0.31

[13:33] {Threei}  - Designed to save $9B annually

[13:33] {nemo} How much did the get from the gov?

[13:33] {dino} and in jan. on the earnings, no dividend cut coming

[13:34] {magoo} i just wanna know how come ivana trump is single

[13:34] {magoo} ivanka

[13:34] {nemo} because she can afford gigolos

[13:34] {nemo} oh...lesbian?

[13:35] {dino} hot imo

[13:35] {magoo} she is drop dead gorgeous

[13:35] {nemo} yep

[13:35] {magoo} and rich

[13:35] {magoo} and smart

[13:35] {dino} most likely single because i am not

[13:35] {nemo} oh yeah, you let Larisa go off on vacation

[13:35] {magoo} magoo falls out of chair

[13:35] {dino} :-)

[13:35] {Threei}  see? market is confused even about this news

[13:36] {cujo} they say she graduated from wharton

[13:36] {cujo} but little known

[13:36] {cujo} she got wait listed

[13:36] {Threei}  can't decide how to evaluate it

[13:36] {cujo} didn't get in till daddy donated a lot of money

[13:37] {Threei}  brutal selling

[13:38] {dino} still hot

[13:39] {Threei}  withGE in dire straits... will CNBC survive?

[13:39] {nemo} that could be a blessing?

[13:39] {Threei}  lol

[13:39] {nemo} Hell, I don't watch it now

[13:42] {nemo} If FAS and FAZ were to stay true to form of late, they should close their gaps from yesterday's close, but that doesn't feel in the cards for some reason

[13:45] {Threei}  FED'S PLOSSER: EXPECTS INCREASES IN FED'S BALANCE SHEET, MUST HAVE CLEAR EXIT STRATEGY

[13:45] {Threei}  hmmm

[13:45] {Threei}  if Fed starts thinking of exit... what poor peasans to do

[13:46] {nemo} eat cake

[13:46] {dino} sm risky l athn .15

[13:47] {magoo} look at cnbc

[13:47] {magoo} they should cut half work force there

[13:47] {nemo} what's happening?

[13:47] {magoo} i bet each makes 100k salary

[13:47] {nemo} oh..anyway

[13:47] {dino} 250k i bet

[13:48] {nemo} they pay 8.25% to the city to start, or are the studios in NJ

[13:49] {magoo} they are so smug in this crash

[13:49] {magoo} let them feel it

[13:50] {Threei}  GE movement tells you the story

[13:50] {Threei}  meaning, market has no idea what to do

[13:50] {Threei}  news is out, look at the reaction

[13:50] {Threei}  40 cents up in a matter of seconds,

[13:50] {Threei}  70 cents down,

[13:51] {Threei}  60 cents up now

[13:51] {nemo} keep your hand out of the lawnmower

[13:54] {Threei}  MEXICO CENTRAL BANK INTERVENES IN FX MARKET TO OFFER USD TO DEALERS

[13:54] {Threei}  drug dealers?

[13:54] {buyemsellem} ha

[13:55] {buyemsellem} I don't think those dealers need any more USD, they have plenty

[13:58] {magoo} am i kere

[13:58] {Threei}  no

[13:58] {Threei}  GE... looks like verdict is coming

[13:58] {Threei}  and it's positive

[13:59] {Threei}  if pulls back under 9, wirth looking for pullback entry

[13:59] {Threei}  worth

[13:59] {Threei}  hasd potential of nice run

[14:00] {Threei}  don't call me crazy but it could be 9.50 - 9.75 area

[14:00] {Threei}  can't pinpoint entry really

[14:01] {nemo} full or half?

[14:01] {Threei}  FED'S ROSENGREN: ECONOMY TO SHRINK SIGNIFICANTLY IN 1H09; MUST SUPPORT FINANCIAL SECTOR; UNEMPLOYMENT LIKELY TO REACH THROUGH 8.5%

[14:01] {Threei}  as usual... depending on entry and how far it is from your stop

[14:02] {dino} sorry booted dsl down

[14:02] {Threei}  8.80 is strong support leve, 8.90 is interim

[14:02] {dino} anyway out deck .30, +.90, stop athn to .99

[14:02] {Threei}  nice

[14:03] {Threei}  8.97 in

[14:03] {dino} thx

[14:03] {Threei}  let's see if we get a runner

[14:03] {magoo} in 9

[14:03] {Threei}  RIMM

[14:03] {Threei}  AT&T NOTES IT HAS NO INTENT TO HALT SALES OF BLACKBERRY BOLD

[14:03] {Threei}  {T}

[14:04] {dino} hod's

[14:05] {magoo} take .17

[14:05] {Threei}  half out .15

[14:05] {magoo} drat as i typed

[14:05] {Threei}  stop .89

[14:05] {dino} athn slipped stopped .91, +.76

[14:06] {Threei}  I like GEs pace

[14:07] {Threei}  entry was nicely timed too... dropped right under 9 as told

[14:07] {Threei}  now,

[14:07] {Threei}  it's possible to just scalp it and be happy,

[14:08] {Threei}  what I am trying to do is to secure the profit and leave half to work, in order to see whether it can become a play that makes the day

[14:08] {cujo} if i missed initial, would you get in here?

[14:09] {Threei}  I think so

[14:11] {nemo} still in?

[14:11] {Threei}  yes

[14:11] {nemo} you moved stop?

[14:12] {Threei}  no... but will if it goes over 9 here

[14:12] {Threei}  to .84

[14:14] {dino} maniac markets, what was that spike

[14:14] {Threei}  losing steasm...

[14:14] {Threei}  steam

[14:15] {Threei}  come on, move your butt

[14:15] {Threei}  GE

[14:15] {Threei}  CONFIRMS CUT IN DIVIDEND TO $0.10

[14:16] {Threei}  duh

[14:16] {Threei}  market doesn't know what it wanted, confirmation or denial, lol

[14:16] {nemo} woulda' thought confirmation, so the opposite

[14:17] {Threei}  ok... .84 stop

[14:18] {nemo} hammer and tong at this level 

[14:19] {dino} ppt wearing out

[14:21] {Threei}  whatever

[14:21] {Threei}  out

[14:21] {magoo} that is why mkt blows

[14:21] {Threei}  no chance to catch that starry play today eh

[14:21] {magoo} that shoul;d have worked

[14:23] {Threei}  we gave it a chance

[14:23] {Threei}  could just as easily get nice 20 cents scalp

[14:23] {Threei}  I don't regret

[14:23] {nemo} been a consistent bird in hand day

[14:23] {magoo} good call..good setup

[14:24] {magoo} freakin mkt blows..what .20 tops but down 55

[14:24] {Threei}  - CEO: "We recognize the importance of the dividend to our shareholders and the significance of this decision, but we believe it is the right precautionary action at this time to further strengthen our Company for the long-term, while still providing an attractive dividend, continues to execute well and generate strong cash flow, even in this tough environment. We have achieved all of our capital and liquidity goals ahead of plan, including lower commercial paper, reduced leverage ratios and solid debt funding. Company has made tremendous progress in strengthening GEs balance sheet to ensure that the Company is well-capitalized and with access to ample liquidity"

[14:24] {nemo} whoa

[14:25] {Threei}  GE

[14:25] {Threei}  S&P AFFIRMS RATINGS IN LIGHT OF DIVIDEND CUT

[14:25] {Threei}  this tunrs into GE-day

[14:30] {Threei}  should have shorted .80 break and make up for the half stop, lol

[14:30] {dino} b.s. statement. they are worried about the tarp issue. must pay it off or govt will do a citi to them

[14:30] {magoo} yea..sell double on stop

[14:31] {dino} deck dropolla

[14:33] {Threei}  from the very beginning of all those bailouts there were dissenting voices saying: don't try to unclog bank lending pipes, lend directly to people and businesses,

[14:33] {Threei}  override banks,

[14:33] {Threei}  let them sort their mess out and get back in the game if and when they can

[14:33] {nemo} the banks were toast

[14:34] {Threei}  I wonder what would have happened if that path was chosen

[14:34] {nemo} ehhh...we'll never know

[14:36] {Threei}  main argument in favor is, it would be way cheaper and would have softened a blow to Main Street

[14:36] {Threei}  with credit flowing, we wouldn't have seen such a desctruction of the business

[14:36] {dino} it is all an accounting issue

[14:37] {magoo} STOP IT

[14:37] {dino} just because the market slows does not mean there is no value

[14:37] {nemo} Yes...for the short term...structural issues not only in finance/capital industry...but in economy globalization as well

[14:37] {magoo} this is a trading room u two

06[14:37] * Threei slaps magoo around a bit with a large Freedom of Speech ammendment

[14:37] {nemo} the "value" was as a result of debt...what we're finding out now is where the value really is

06[14:37] * dino slaps magoo around a bit with a large trout

[14:38] {nemo} us three

[14:38] {dino} slap him nemo

06[14:38] * nemo slaps magoo around a bit with a large with a copy of Das Kapital

[14:39] {nemo} gotta' remember how to use that thing

[14:39] {Threei}  FED'S ROSENGREN: FED LIQUIDITY FACILITIES USAGE HAS FALLEN DESPITE MARKET TURMOIL

[14:40] {Threei}  hmmm

[14:40] {Threei}  they are loaded to the gill?

[14:40] {nemo} that would make sense...

[14:42] {nemo} Boy that GE chart is neat

[14:42] {nemo} right up...right down

[14:44] {Threei}  SLM tests lows

[14:45] {Threei}  I wonder if this is not one of those shorts that just goes down day after day

[14:50] {magoo} STT read boss?

[14:50] {dino} sm l athn .05

[14:51] {Threei}  none mags

[14:51] {magoo} k

[14:51] {magoo} ge read here?

[14:51] {Threei}  sigh

[14:52] {magoo} not getting any prints on "sigh"

[14:52] {_paliyad2009} vad-bac in 4.00 out 4.06 10000 what is full and half lot thank

[14:53] {Threei}  depends on your risk tolerance

[14:53] {Threei}  calculate it this way:

[14:53] {Threei}  1. figure out how much you are willing to risk on any given trade

[14:53] {Threei}  2. find out the size of the stop

[14:54] {Threei}  derive amount of shares from that

[14:55] {_paliyad2009} thanks

[14:55] {Threei}  example:

[14:55] {Threei}  your risk toleraance is, let's say 250 bucks on a trade,

[14:55] {Threei}  you see a chart with trigger at 20, stop at 19.75

[14:56] {Threei}  that would give you 1000 shares

[14:56] {Threei}  now, if you have shart with trigger at 20 and stop at .90

[14:56] {Threei}  that gives you roughly 2000

[14:57] {Threei}  consider also possible slippage on thinner stocks

[14:57] {Threei}  mags, want low risk play?

[14:57] {Threei}  SLM

[14:57] {Threei}  .78 short

[14:57] {Threei}  stop above .85

[14:58] {magoo} wouldnt everybody want a low risk play? lol

[15:02] {dino} lol

[15:02] {Threei}  C

[15:02] {Threei}  S&P REVISES OUTLOOK TO NEGATIVE; DOWNGRADES HYBRIDS

[15:02] {Threei}  US government: thank you for this

06[15:03] * Threei hits SLM over the head with 2x4

[15:03] {Threei}  violence time

[15:03] {Threei}  nemo, help

[15:03] {nemo} I don't know if it's me the market or both, but it feels tired

[15:03] {nemo} o.k.

06[15:04] * Threei shows SLM 2x4 with rusty nails

[15:04] {nemo} Breakin' out the AK

06[15:04] * nemo empties a clip into slm

06[15:05] * nemo prepares broomstick handle

[15:05] {Threei}  sharp market drop is coming, feels like

[15:05] {nemo} wow...that was easy

[15:05] {dino} gtiv blood

[15:07] {nemo} I've got a good torture if we need it

[15:08] {Threei}  here is my dropif I am right about drop coming, FAZ is going to 63 and over

[15:08] {Threei}  ummm

[15:08] {Threei}  letme try again

[15:08] {dino} too soon

[15:08] {Threei}  if I am right about drop coming, FAZ is going to 63 and over

[15:09] {dino} your drop call is too soon imo, been happening around 3:30

[15:09] {Threei}  can't nail an entry on it with precision

[15:09] {dino} sometimes i expect too much of you

[15:10] {Threei}  sorry to disappoint

[15:10] {dino} :)

[15:10] {nemo} As I said...he'd be walked as a baseball player

[15:10] {Threei}  here is my drop

[15:10] {magoo} nice vad

[15:10] {Threei}  here is 63

[15:10] {nemo} FAS about to break resistance

[15:10] {magoo} FAZ in .40 out .75

[15:10] {dino} i am wrong it seems

[15:11] {Threei}  {--- expects full blown apology from dino

[15:11] {dino} darn patterns aren't working

[15:11] {nemo} must he prostrate himself?

[15:11] {Threei}  come on SLM, die

[15:11] {Threei}  oh, and here is "over" for FAZ

[15:12] {dino} stopped athn .65, -.40

06[15:12] * dino slaps &Threei around a bit with a large trout

[15:12] {Threei}  lol... hows that for apology

[15:12] {nemo} frankly...quite congruent for this place

[15:12] {Threei}  true

[15:12] {magoo} i'd like to apoligize

[15:13] {Threei}  uh oh

06[15:13] * magoo slaps Threei around a bit with a large trout

[15:13] {dino} by all means

[15:13] {Threei}  yeah, I knew that was coming

[15:13] {Threei}  and I walked right into it

[15:14] {Threei}  GE

[15:14] {Threei}  MOODY'S COMMENTS ON DIVIDEND CUT; RATINGS REMAIN ON REVIEW FOR POSSIBLE DOWNGRADE

[15:14] {Threei}  - Notes review has no impact on FDIC-guaranteed debt issued by GE capital which remains AAA

[15:14] {nemo} the cat must like it

[15:17] {nemo} slm doesn't want to keel over

[15:18] {Threei}  another wave of selling in development

[15:18] {magoo} just hit faz rd 2..

[15:18] {dino} good call 3rdi

[15:19] {Threei}  hmmm... and no slap with that?? out of character, dino...

[15:19] {Threei}  but thank you :)

[15:19] {Threei}  SLM gave over 1:1

[15:19] {nemo} keeps you off balance

[15:19] {Threei}  most likely not over

[15:20] {nemo} I mean the "thank you"

[15:20] {dino} lol

06[15:20] * magoo slaps Threei around a bit with a large trout

[15:20] {Threei}  lol

[15:20] {Threei}  isn't it disturbing that I feel right at home with all the abuse flying around

[15:20] {Threei}  good boy SLM

[15:20] {Threei}  covered half

[15:20] {Threei}  .66

[15:21] {Threei}  stop .81

[15:21] {Threei}  see mags? nice and easy

[15:21] {Threei}  risk lousy 8 cxents

[15:21] {dino} tough luv 3i

[15:22] {Threei}  Canadaians rejoice

[15:22] {Threei}  (CA) CANADIAN FIN MIN FLAHERTY: CANADIAN ECONOMY TO REPORT 'SUBSTANTIAL' DECLINE IN Q4 GDP

[15:24] {Threei}  hey, someone said -250 for the day earlier

[15:24] {dino} last two months, no markups

[15:24] {Threei}  who was it? fess up so I don't have to scroll

[15:24] {buyemsellem} cujo

[15:24] {cujo} that was me

[15:24] {fernp} When was your entry in SLM Vad? When lost 4.72?

[15:24] {dino} went sept-dec big markups no more

[15:24] {Threei}  [14:57] {Threei} SLM

[15:24] {Threei}  [14:57] {Threei} .78 short

[15:24] {Threei}  [14:57] {Threei} stop above .85

[15:24] {cujo} still 30 min left in the day :)

[15:25] {Threei}  I like the call cujo

[15:25] {dino} athn sm l .05 last time

[15:25] {cujo} thanks.  I'm a bear at heart.  At least till there is some actual good news to think otherwise.

[15:26] {Threei}  well, concern for bears right now is,

[15:26] {Threei}  when these guys lose all hopes and realize they have no ammo left,

[15:26] {Threei}  they'll use last resort

[15:26] {Threei}  m2m

[15:26] {Threei}  ad that could explode market like there is no tomorrow

[15:26] {dino} and i'm a dinosaur

[15:27] {cujo} yeah

[15:27] {cujo} glad i'm not holding anything long term right now

[15:27] {cujo} market too crazy

[15:27] {Threei}  with their manner to announce this kind of things, no way to tell when and in what way it happens

[15:27] {dino} its inevitible m2m, but they will waste a trillion or two first

[15:27] {Threei}  so risk to get caught is big

[15:27] {Threei}  yeah dino

[15:27] {dino} because they don't want to admit they were wrong

[15:28] {fernp} what is m2m, pls?

[15:28] {Threei}  quite possible that this market hesitance is caused by exactly this fear

[15:28] {Threei}  shorts don't want to overcommit

[15:28] {dino} mark to market fas acct. change last spring

[15:28] {Threei}  risking to be caught off guard

[15:28] {Threei}  and longs can't commit not knowing when it may happen

[15:29] {dino} used to carry at cost and if performing ok

[15:30] {dptl} have a good evening all

[15:30] {Threei}  take care dp

[15:30] {dino} cya dp

[15:31] {magoo} bye dp

[15:31] {Threei}  Ron Paul coming on CNN

[15:31] {dino} bartiroma talking shorts. the end of baer is near

[15:31] {Threei}  uh oh

[15:31] {dino} bear

[15:31] {Threei}  that's a good indicator

[15:31] {Threei}  marked the start of bull market in 2003

[15:31] {dino} ]july '03 she did the same

[15:33] {Threei}  what I don't get is:

[15:33] {Threei}  who installed M2M last spring?

[15:33] {Threei}  it's wasn't this administration

[15:33] {dino} accounting committee after enron 

[15:34] {Threei}  so why wouldn't they cull it as a spirit of change?

[15:34] {dino} cull?

[15:34] {Threei}  kill

[15:34] {Threei}  strangle

[15:34] {Threei}  suffoate

[15:34] {Threei}  smother

[15:35] {magoo} u called??

[15:35] {dino} ohh, because they don't want to admit they were wrong. politicians supported the change

[15:35] {Threei}  SLM

[15:35] {Threei}  MOODY'S REVIEWS RATINGS FOR POSSIBLE DOWNGRADE

[15:35] {Threei}  here is Ron Paul

[15:36] {magoo} whos that?

[15:36] {nemo} The only politician who knows what's going on

[15:36] {Threei}  and understands finance

[15:36] {nemo} doctor too

[15:37] {cosmo} over 4000 babies served

[15:37] {dino} served, lol

[15:37] {nemo} A Modest Proposal

[15:38] {magoo} so up down or dead herre into BELL??

[15:38] {cujo} DOWN DOWN DOWn

[15:39] {dino} mant sm l .30

[15:39] {Threei}  down... but probably not as dramartic as cujo says

[15:39] {magoo} i need 100 more

[15:39] {magoo} vad..get me it palease

[15:40] {dino} ppt end of month

[15:40] {dino} obama says open the gates

[15:41] {magoo} he doesnt care about mkt

[15:41] {magoo} he wants it 60000

[15:41] {magoo} 6000

[15:41] {Threei}  why?

[15:41] {Threei}  to get sacked even before the next election?

[15:41] {magoo} he doesnt understand

[15:42] {Threei}  that's different matter... but why would he want market down

[15:42] {magoo} short term here and now

[15:42] {dino} nobody told him pensions are stocks

[15:42] {magoo} so it looks better for him if it improves later in term

[15:43] {Threei}  I doubt that the logic

[15:43] {magoo} right now he says he inherited mess..will fix it

[15:43] {cosmo} ok, so he's in cash....

[15:43] {Threei}  if they could do anything about the market, they wouldn't allow this relentless selloff

[15:43] {magoo} hes short

[15:43] {Threei}  lol cos

[15:43] {dino} punish the speculators, he says it every day

[15:45] {dino} athn stopped done w/it

[15:55] {Threei}  positive day but tiring

[15:55] {Threei}  and struggle

[15:55] {nemo} p&q

[15:55] {nemo} have nice weekend

[15:55] {Threei}  okay guys... ending two weeks of no single losing day

[15:56] {Threei}  not too bad in this market

[15:56] {Threei}  thank you all,

[15:56] {Threei}  have a good weekend

[15:56] {Threei}  see you on Monday

[15:56] {dino}  out lphi .10, +.35 all day

[15:57] {Threei}  wow

[15:57] {Threei}  look at BAC's eod

[15:58] {dino} out mant .34, +.04

[15:59] {dino} using tarp to re-engineer society

[15:59] {Threei}  I hate all kinds of social engineering

[15:59] {fernp} have a nice weekend. see you on monday

[15:59] {Threei}  the very idea of a few guys sitting in the room and re-making economy and society...

[15:59] {Threei}  fern :)

[16:00] {dino} no checks and balances, dems control entire govt

[16:00] {magoo} ty vad

[16:00] {Threei}  mags :)

[16:00] {Threei}  well... midterm election is 2010?

[16:01] {Threei}  hopefully common sense is back till then

[16:03] {dino} ok thx all, decent week

[16:07] {vint} bye all, thanks Vad for taking us through volatile day

Feb 26 2009

STT long and CAT short made the day nicely positive despite a few small stops. Highlight of the day was CAT stop trailing with couple educational nuggets. Pull intraday chart and follow the comments!                                                                                                                                                                                                                                                                                                                                         

Session Time: Thu Feb 26 00:00:00 2009

[07:37] {nemo} mornink!

[07:38] {Threei}  Good morning comrades

[07:38] {nemo} for the glory of the Rodina

[07:38] {Threei}  what time president speaks today?

[07:38] {nemo} Easy short

[07:57] {magoo} morning

[07:57] {Threei}  Good morning comrade

[07:58] {Threei}  [07:38] {Threei} what time president speaks today?

[07:58] {Threei}  because I am sure at one point he does

[08:00] {Threei}  wowe BAC

[08:00] {nemo} So...we're gonna' be a bit short on estrogen in the room for a while

[08:00] {nemo} yeah BAC

[08:00] {Threei}  02/25/09 11:27pm

[08:00] {Threei}  [C] Citigroup Inc Reportedly Citi's initial read of regulators "stress test" plan for US banks is positive; capital level target for US banks still unclear

[08:00] {Threei}  - US banking institutions will need to meet well capitalization guidelines of tier 1 of 6% with majority in tangible common equity under stress scenario

[08:00] {Threei}  - Says regulators will ultimately define the amount of capital needed by banks

[08:00] {Threei}  - Sees no specific guideline/target likely to be provided

[08:00] {Threei}  - Under these rules and its stress test, Bank of America and Fifth Third do not need to issue more equity.

[08:00] {Threei}  - Note: The comments are from a Citigroup research note

[08:01] {nemo} Goebbels would be proud

[08:11] {magoo} vad u liking bac pre mkt pullbks?

[08:11] {Threei}  overall, yes

[08:11] {Threei}  I just am not sujre I can read them

[08:12] {magoo} well..wheres support..5?

[08:12] {Threei}  yes, yesterday's top

[08:16] {Threei}  BALTIC DRY BULK INDEX -0.5%, 4TH STRAIGHT DECLINE

[08:24] {patience} good morning RT  :)

[08:25] {nemo} Boy...is gold taking a pasting!

[08:26] {Threei}  patience :)

[08:30] {Threei}  INITIAL JOBLESS CLAIMS: 667K V 625KE; CONTINUING CLAIMS: 5.112M V 5.025ME

[08:30] {Threei}  *JAN DURABLE GOODS ORDERS: -5.2% V -2.5%E; DURABLES EX-TRANSPORTATION: -2.5% V -2.2%E

[08:31] {nemo} drinking yet Mags?

[08:32] {Threei}  DRYS

[08:32] {Threei}  REACHED FINAL AGREEMENT WITH NORDEA BANK FOR A COVENANT WAIVER ON THE $800 MILLION PRIMELEAD FACILITY

[08:32] {nemo} an there it goes...

[08:34] {Threei}  scalped from .22

[08:34] {nemo} what that pause?

[08:34] {Threei}  WHITE HOUSE ADVISOR SUMMERS: POLICYMAKERS HAVE TO CONFRONT WITH "VICIOUS CYCLES," NOTES US ECONOMY IS IN MOST RAPID DECLINE SINCE WWII

[08:37] {nemo} too much pre-market exuberance...alright...so I'm a glass is half empty guy...

[08:54] {magoo} .

[08:54] {nemo} ?

[08:54] {magoo} .

[08:55] {nemo} ?

[08:55] {magoo} .

[08:55] {nemo} !

[08:55] {Threei}  you do realize I will have to edit it all after hours, right?

[08:55] {magoo} just wondering why timestamp was not saved from yesterday

[08:55] {nemo} Vad, don't tempt us like that

[08:56] {ese} good morning....

[08:56] {Threei}  ese :)

[08:58] {ese} check out a friend of mine on youtube GENE HARDY...this will get your day started off right. http://www.youtube.com/watch?v=EV2Nb97aru0

[09:00] {ese} http://www.youtube.com/watch?v=EV2Nb97aru0

[09:00] {ese} don't know if you can click on that and giet it or not.

[09:01] {nemo} yes, you can....

[09:01] {pita} morning all!

[09:01] {Threei}  hey... president on TV soon

[09:01] {cosmo} yes we can

[09:01] {Threei}  pita :)

[09:01] {nemo} Short everything!!!

[09:01] {pita} change we can believe in

[09:01] {Threei}  in about 40 minutes

[09:01] {nemo} Yeah, no change

[09:02] {nemo} pissa' right after markets open

[09:03] {Threei}  looks only logical

[09:03] {nemo} I wonder if that after hours move in FAS and morning climb have something to do with his speech?

[09:03] {Threei}  if we ended yesterday's trading session with him, why wouldn't we start today's one with him

[09:05] {Threei}  seniors making over 170K a year are going to pay more for drug prescriptions

[09:06] {Onix} gm all

[09:07] {Threei}  onix :)

[09:07] {nemo} rock :)

[09:08] {ese} you guys and gals like Gene Hardys tune on youtube

[09:08] {nemo} YEP!!!!

[09:08] {Threei}  very much

[09:08] {nemo} I have a recording of that...can't remember who by

[09:09] {ese} he has a house here in victoria and come to clinic my high school band periodically

[09:10] {dptl} good morning all

[09:10] {Threei}  dp :)

[09:10] {dino} gm all

[09:10] {Threei}  dino :)

[09:10] {nemo} Hey ese...I sometimes go into the student performances at Berklee.  They're usually always good, and sometimes a real surprise

[09:10] {ese} dino dp....morning

[09:11] {ese} indeed.....have done that also nemo.....i would agree....there are some surprises

[09:11] {nemo} you come to Berklee all the way from there?!!!

[09:13] {dino} let's make lotsa money

[09:13] {fernp} Hello everybody

[09:13] {Threei}  you know president is on TV about 10 minutes after open, right dino?

[09:14] {Threei}  fern :)

[09:14] {pita} you have my vote dino.

[09:14] {ese} ha ha .....no sometimes the performances are posted online\

[09:15] {dino} yes?

[09:15] {Threei}  I amnot kidding

[09:15] {dino} guy cannot even figure out to talk before open or after close. even bush got that right

[09:15] {nemo} hehehe...they have a great performance hall.  Of course, we have Symphony Hall too.  Great acoustics in both venues

[09:16] {nemo} Was it Sabine who designed Symphony Hall?

[09:17] {ese} got me there

[09:17] {Threei}  so far, watching DRYS, BAC

[09:17] {Threei}  [08:32] {Threei} DRYS

[09:17] {Threei}  [08:32] {Threei} REACHED FINAL AGREEMENT WITH NORDEA BANK FOR A COVENANT WAIVER ON THE $800 MILLION PRIMELEAD FACILITY

[09:17] {nemo} on 5 min chart making a nice bull flag

[09:18] {dino} ok, so premarket up 100+. obama comes on 10 min. after open, market will lose 100

[09:18] {nemo} Obama might make it a very looooooooooooonnnnnnnnnnngggggggg bull flag

[09:18] {cosmo} yea...let's see if he can start a 'ally

[09:18] {Threei}  cosmo, word rally is allowed while larisa is on vacation

[09:18] {nemo} Can't have a 'ally without 'arisa

[09:18] {nemo} oh

[09:19] {cosmo} i play it safe....

[09:19] {cosmo} :)

[09:19] {nemo} she might be reading the logs

[09:19] {Threei}  we have freedom of speech back for three weeks or so

[09:19] {cosmo} exactly

[09:19] {nemo} worse than having a wife...almost

[09:19] {Threei}  be back in 5

[09:19] {dino} lol

[09:22] {cujo} morning

[09:24] {nemo} ese dcc

[09:24] {Threei}  cujo :)

[09:24] {nemo} that was only two Vad

[09:25] {Threei}  exactly 5

[09:25] {nemo} must be using metric system

[09:25] {Threei}  aadd timestamp to your mirc...

[09:27] {Threei}  dive into 4 to wtch for DRYS entry

[09:27] {nemo} full or half

[09:28] {Threei}  full

[09:28] {pita} seriously 4?

[09:28] {nemo} catch the bottom of the bungee jump, huh

[09:28] {Threei}  if we get that lucky pita

[09:29] {nemo} Obama will help

[09:29] {cujo} is there a logical stop on this yet?

[09:29] {Threei}  breakout scenario would require some consolidation

[09:29] {Threei}  not yet

[09:29] {Threei}  it's not the price per se

[09:29] {Threei}  it's the type of action

[09:29] {Threei}  sharp selling closer to 4 is desirable for entry

[09:29] {Threei}  slow slide, not so sure

[09:30] {nemo} big volume spike

[09:31] {Threei}  in any case, do not buy price itself, watch for stall pause,strength returning

[09:34] {Threei}  get ready

[09:34] {Threei}  wow BAC

[09:34] {nemo} something's out on Obama's speech already

[09:35] {Threei}  most likely won't held 5

[09:35] {Threei}  4

[09:36] {nemo} shoulda' shorted :)

[09:37] {dino} edu's getting hit

[09:37] {Threei}  still doesn't feel quite ready

[09:38] {nemo} everything pulling back

[09:38] {nemo} Obama effect

[09:38] {Threei}  ok... 4 break if not losing 3.90

[09:40] {dino} esrx

[09:40] {dino} psys

[09:41] {dino} watching apol, esi, esrx, psys

[09:41] {nemo} qs crashing

[09:41] {dino} ndx negative

[09:42] {nemo} Obama must be speaking

[09:43] {Threei}  not yet

[09:43] {Threei}  invalidated DRYS

[09:43] {fernp} it is consolidating instead bounces

[09:43] {nemo} wow

[09:44] {dino} mant

[09:44] {ese} what the heck is that little tail in the 1min qqqq....sheesh...talk about buying in low

[09:45] {ese} it's who you know isn't it.....

[09:45] {nemo} same in spy

[09:47] {nemo} So what's Obama saying

[09:47] {dino} gap around 53.50s esrx

[09:48] {cosmo} he's still on the phone i think

[09:49] {Threei}  PREVIEW: JAN NEW HOME SALES DUE OUT AT 10AMET

[09:49] {Threei}  **consensus expectation: 324Ke (-2.1%e) v 331K prior

[09:49] {Threei}  - most estimates range between 300K and 350K

[09:49] {Threei}  **note: Dec New Home Sales was at a record low 331K, and the months of supply in Dec stood at 12.9, a record high.

[09:49] {dino} late as usual

[09:49] {nemo} Blackberry you mean?

[09:49] {dino} psys getting extreme

[09:50] {cosmo} not sure ... i know its not a rotary

[09:50] {cosmo} ...dial

[09:51] {ese} what do you make of PSYS dino

[09:52] {dino} crazy, :)

[09:52] {dino} feels like one more whoosh lower, but conference call at 10:00 am

[09:53] {ese} yuk yuk yuk 

[09:53] {dino} mant i like, good report, guidance up

[09:53] {Threei}  MRVL two days high

[09:53] {dino} esrx was good too, so???

[09:53] {ese} lets just have a glance at mant

[09:53] {dino} fslr wants that 100 i mentioned yesterday

[09:53] {dino} please do es

[09:54] {nemo} Everything looks so tentative

[09:54] {Threei}  yeah, a lot of hesitance

[09:55] {cosmo} bush flash backs

[09:55] {dino} well, as fire marshall bill would say....

[09:55] {Threei}  LVS?

[09:55] {Threei}  I don't see news

[09:56] {nemo} maybe the Mob is buying Adelstein out?

[09:56] {dino} "let me tell ya something, you have match and gasoline, explosive situation"

[09:56] {nemo} He lives up here outside of Boston

[09:56] {nemo} who said that Dino

[09:56] {nemo} Hell, my breath is like that by 10 every night

[09:56] {dino} lol

[09:57] {nemo} Mags probably by 3 in the afternoon

[09:57] {nemo} here it comes

[09:57] {dino} jim carey, old sat. night live 

[09:57] {nemo} or was that living color...Fire Marshall Bill

[09:57] {Threei}  PRESIDENT OBAMA: THE 2009 BUDGET IS AN "HONEST ACCOUNTING" OF THE COSTS AND HARD CHOICES AHEAD

[09:57] {nemo} precursor to Pet detective

[09:57] {nemo} HAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAH

[09:58] {dino} lol

[09:58] {nemo} ROFLOL

[09:59] {nemo} Is "Honest Accounting" especially when uttered by a politician, an oxymoron?

[09:59] {ese} he seems to have the "Gift of the Gab"

[09:59] {nemo} absolutely...fantastic orator...that's why he talks everyday.  He could run a wind turbine all by himself

[09:59] {ese} he doesn't really say things that piss the market off....like you know who and the new illustrius fed chairman

[10:00] {magoo} vad..we in anything?

[10:00] {Threei}  JAN NEW HOME SALES: 309 V 324KE (% M/M)

[10:00] {Threei}  no

[10:00] {Threei}  (-10.2% M/M)

[10:00] {Threei}  - Median sales price: $201,100 v $ m/m (-13.5%)

[10:00] {Threei}  - New Home months of supply: 13.3 v 12.2 months m/m (a record high)

[10:00] {Threei}  - prior New Home Sales revised from 331K to 344

[10:02] {ese} up......hmmmmmmm

[10:03] {dino} risky, sm l esrx .35

[10:03] {nemo} where's support Dino?

[10:04] {dino} stop is .96

[10:04] {Threei}  .long rimm .40 break if stays above .25

[10:05] {Threei} Long Setup:  RIMM  .40 break if stays above .25

[10:05] {dino} coin flip nemo

[10:06] {cujo} in

[10:06] {dino} stopped

[10:07] {dino} -.39

[10:07] {dino} gap filling

[10:07] {Threei}  no worky

[10:07] {cujo} stopped

[10:08] {nemo} stopped

[10:08] {Onix} stppoed

[10:08] {ese} vads bollinger bands tightening on PSYS dino ...will go long or short depending on which side it breaks through

[10:09] {dino} let me know es

[10:09] {Threei}  STT holding close to day high

[10:10] {ese} long 21.36 or short 20.94

[10:13] {ese} s .92 1/2

[10:14] {nemo} DRYS coming in for a double bottom?

[10:14] {dino} nice es

[10:14] {hawkfan4} WFC nice consolodation

[10:14] {ese} cover .56

[10:15] {Threei}  hawk :)

[10:15] {dino} gj

[10:15] {ese} +.36 psys

[10:15] {hawkfan4} good morning :)

[10:15] {ese} tks

[10:16] {fernp} morning hawk

[10:16] {ese} worked like a plan.....used upper and lower limits of B bands

[10:16] {ese} pressure still down

[10:16] {hawkfan4} fern :)

[10:18] {dino} waiting 19.61

[10:19] {dino} mant sm l .09

[10:22] {dino} psys sm l .61 risky

[10:26] {dptl} .

[10:28] {Threei}  WHITE HOUSE SEE CUMULATIVE US DEFICIT OF $3.8T DURING 2010 TO 2014 PEROID

[10:28] {nemo} Eh..so what...world's ending in 2012

[10:29] {_paliyad2009} good moring

[10:29] {Threei}  morning paliyad

[10:30] {dino} out psys .35, + .74

[10:30] {cujo} great trade dino

[10:31] {dino} ty

[10:31] {dino} lucky entry

[10:31] {dino} never thought it would get there

[10:32] {Threei}  DRYS should change the symbol to POS, don't you thinkl

[10:32] {cujo} yes

[10:32] {magoo} man..i was just thinking that

[10:33] {cujo} but i prefer FNPOS

[10:33] {fernp} ADBE breaking down

[10:33] {magoo} just go to zero and get kicked out of naz will ya

[10:35] {cujo} ss adbe .97

[10:35] {dino} esrx big old rinse

[10:36] {dino} ouch esi

[10:38] {cujo} stoped

[10:38] {Threei}  STT

[10:38] {Threei}  half lot long

[10:38] {Threei}  29 break

[10:38] {Threei}  stop under .80

[10:39] {dino} vz finally gets thu .00

[10:41] {dino} esi es?

[10:41] {Threei}  in aggresively

[10:41] {Threei}  .89

[10:41] {Threei}  .75 stop

[10:41] {magoo} .93 here

[10:42] {dino} out mant .48, +.39

[10:43] {Threei}  held by fingertips

[10:43] {dino} psys new lows

[10:43] {dino} that why we are not greedy in this bear

[10:44] {cujo} still looking for 29 break Vad?

[10:44] {Threei}  10:41] {Threei} in aggresively

[10:44] {Threei}  [10:41] {Threei} .89

[10:44] {cujo} yes but i mean target wise, or is it just a scalp?

[10:45] {Threei}  oh

[10:45] {Threei}  no, I think it's capable of more

[10:45] {dino} meds, bios not participating

[10:45] {Threei}  half out.20

[10:46] {Threei}  stop to under .90

[10:46] {Threei}  next target is around .40 - .50

06[10:48] * Threei kicks STT in the rear

[10:48] {Threei}  time for violence

[10:48] {Threei}  it's working and it's fun

[10:49] {Threei}  stop to under 29

[10:49] {magoo} out .40 TY 

[10:49] {Threei}  wecome sir

[10:50] {Threei}  second target hit

[10:50] {dino} strange rally, education, meds., rimm, mcd, wmt not participating

[10:50] {Threei}  out

[10:50] {Threei}  .43 and .45

[10:50] {fernp} ty Vad

[10:50] {Threei}  life looks brighter

[10:50] {Threei}  fern :)

[10:51] {magoo} vad..we should reload it..feels much higher

[10:51] {dawg} great call Vad ty

[10:51] {Threei}  dawg :)

[10:51] {Threei}  cujo, you out yet?

[10:52] {cujo} y

[10:52] {cujo} trailed stop on my last piece

[10:52] {dino} out vz leftover .99, +.29

[10:52] {Threei}  okay... market is pulling back rather hard

[10:52] {Threei}  and STT is up 3.50

[10:52] {cujo} great call.  thanks.

[10:52] {Threei}  risk is way too high here

[10:53] {Threei}  BAC consolidates close to hod, forms ascending triangle

[10:53] {dino} ipcm drop

[10:54] {dino} what happened, obama talk again

[10:55] {Threei}  not that I know but I am sure we may get another speech before this trading session is over

[10:55] {dino} egomaniac

[10:57] {Threei}  not going to be an easy trade and it's kind of 51/49

[10:57] {Threei}  so see if you like it

[10:57] {magoo} IN

[10:57] {Threei}  and consider it discretionary

[10:57] {magoo} IN

[10:57] {Threei} Long Setup:  BACK  .88

[10:57] {magoo} ??

[10:57] {magoo} BAC

[10:57] {magoo} BACK?

[10:57] {Threei}  sigh

[10:57] {Threei}  BAC

[10:57] {nemo} full half

[10:57] {Threei}  if stays above .78

[10:58] {Threei}  if sets up from here, stop under .80

[10:58] {Threei}  look at its liquidity and size of stop nemo... what do you think?

[10:58] {nemo} double

[10:58] {nemo} full

[10:59] {ese} dino....sorry i didn't check out esi....was away from the computor

[11:00] {Threei}  my take:

[11:00] {Threei}  if you want to play doluble on this kind, do not buy it all on break

[11:00] {Threei}  it makes a lot of pullbacks,

[11:00] {Threei}  buy 1 lot on a trigger,

[11:00] {Threei}  and add second on pullback

[11:00] {nemo} umbrella

[11:01] {Threei}  kind of, yeah

[11:01] {Threei}  modification of it

[11:01] {dino} grrrr had bid esi 109.09, whoosh takes it from 111 to 109.89, not enough

[11:02] {nemo} financials look like they might still pull back

[11:03] {Threei}  market got smacked

[11:03] {nemo} Obama must be in the bathroom

[11:04] {dino} lol

[11:05] {nemo} see the order issue with EDGE and possibly other ECNs?

[11:06] {dino} psys new low

[11:06] {cujo} no worky

[11:08] {Threei}  market is badly confused

[11:08] {nemo} nice to have company

[11:08] {Threei}  (no wonder though)

[11:08] {Threei}  with so many mixed signals, anyone is

[11:09] {Threei}  Orszag is talking now

[11:09] {nemo} kinda' like trying to pick up a woman in a bar and then you find out she's a lesbian

[11:09] {Threei}  OMB DIRECTOR ORSZAG: PROPOSES CAPITAL GAINS TAX INCREASE TO 20% - TV

[11:09] {patience} laughing

[11:10] {nemo} That's funny...it's only 15% on LT anyway

[11:10] {dino} yuk!

[11:10] {nemo} what's yuk for Dino?

[11:11] {Threei}  RESTORING TAXES FROM CLINTON ERA; SEEKING $1T TAX INCREASE ON HIGH EARNERS AND COMPANIES

[11:11] {Threei}  - Continues favorable dividend on corporate dividend

[11:12] {Threei}  lol... "families making more than 25K a year will be asked to pay more taxes"

[11:12] {Threei}  asked?

[11:12] {Threei}  can they refuse?

[11:12] {cujo} 250K

[11:13] {Threei}  250, yes

[11:13] {Threei}  US HOUSE REPORTELY EVALUATING POSTPONEMENT OF VOTE ON HOUSING BILL INCLUDING PROVISIONS FOR 'CRAMDOWNS'

[11:13] {dino} will be "asked" ?

[11:13] {dino} just say "no"

[11:13] {Threei}  that's what he said

[11:14] {cujo} personally think it is the wrong time to ask for more taxes from anyone.  Didn't he say no new toxes first year in office in light of economic condition during campaign?

[11:14] {dino} tax cuts for all i thought

[11:14] {Threei}  nope... for 95%

[11:14] {dino} then again, he wanted a balanced budget too

[11:14] {nemo} Taxes always go up in recessions because the government has to keep running even if you can't

[11:15] {dino} no, not under reagan

[11:15] {dino} supply side

[11:15] {cujo} i'm kinda concernes with the new tax treatment of hedge funds

[11:15] {cujo} concerned

[11:15] {cujo} all taxed at reg income regardless of holding period seems like a double standard.

[11:17] {Threei}  - Tax burden for hedge funds to private equity would almost triple.

[11:17] {cujo} yeah

[11:17] {dino} they will find a way around it

[11:18] {dino} any news rimm?

[11:18] {Threei}  no

[11:18] {cujo} not sure how that would trickle down to the general public but i'm sure it will not be good for NYC. 

[11:18] {Threei}  Seinfield: it's not going to be good for anyone

[11:19] {nemo} or NJ...they got a significant portion of its revenue from Wall Street

[11:19] {Threei}  farms earning 500K a year lose subs'idy

[11:19] {cujo} yeah, NJ as well.

[11:20] {Threei}  watching CAT

[11:20] {Threei}  if market firmly decides on downward, 25 breakdown will be a short trigger

[11:22] {ese} outta here for the day all....have a good one

[11:22] {Threei}  take care ese

[11:22] {ese} see ya vad

[11:23] {Threei}  BA

[11:23] {Threei}  DROPPING PLAN TO BUILD NEW CARGO PLANE FOR US ARMY AND AIR FORCE

[11:23] {fernp} SLM - DJ reports the Obama administration would end fees paid to banks that provide loans to students, all student loans would be administered through the Education Department's direct lending program

[11:24] {fernp} look at SLM

[11:25] {Threei}  yikes

[11:26] {nemo} Vad, what?

[11:26] {Threei}  looked at what fern suggested to look

[11:26] {Threei}  nightmares are made of this stuff

[11:27] {nemo} Oh jeesus FNM FRE all over again

[11:27] {Threei}  SLM is GSE too?

[11:27] {nemo} yes

[11:28] {Threei}  lol... short at will?

[11:28] {nemo} How do you short 0

[11:28] {Threei}  SLM?

[11:28] {Threei}  5.56

[11:28] {nemo} I know...joke

[11:29] {Threei}  OMB'S ORZAG: NO PLANS TO ASK CONGRESS FOR ADDITIONAL FUNDS, $250B FIGURE IS A 'PLACEHOLDER', WILL NOT NECESSARILY BE USED

[11:29] {nemo} This is probably a precursor to what they'll do with FNM an FRE

[11:29] {cujo} stop on that CAT .14-.16 area?

[11:29] {Threei}  yeah

[11:31] {Threei}  SLM breakdown

[11:32] {dino} mcd sm l .50

[11:34] {Threei}  if SLM loses this .30...

[11:34] {Threei}  lost

[11:34] {magoo} i bet mkt tanks today

[11:35] {magoo} yesterday...although we all acted like it was a green day..actually closed red appx.85 down

[11:36] {magoo} so down mon hard...up 223 tues...down wed 85

[11:36] {Threei}  it was a green day and we acted like that,

[11:36] {Threei}  it tanked on last minutes on sudden p;rez appearance

[11:36] {magoo} still sold

[11:36] {magoo} my point

[11:36] {Threei}  my point is we ated right

[11:36] {magoo} we were nmot even up 2 days

[11:37] {Threei}  SLM chases FNM/FRE

[11:37] {Threei}  ty fern

[11:37] {nemo} gonna be cell mates

[11:37] {fernp} shorted .40

[11:37] {Threei}  wtg

[11:37] {dino} gj

[11:38] {dino} i was afraid of it

[11:38] {nemo} me too, but I'm loaded in CAT so didn't matter

[11:39] {nemo} see tck today?

[11:40] {Threei}  feels like freefall in cards

[11:40] {pita} CAT short?

[11:41] {Threei}  it already triggered

[11:41] {dino} free fall? look at apol, esi, ceco, cpla

[11:41] {Threei}  I mean market in general

[11:41] {Threei}  has rthis cascading feel to it

[11:41] {magoo} [11:35] {magoo} i bet mkt tanks today

[11:42] {Threei}  yes mags...

[11:42] {Threei}  I intentinally ignored that in order to make you scroll up, copy and paste later

[11:42] {fernp} SLM stooped 5.01 +.39 

[11:42] {Threei}  our of genreal meaninglness

[11:42] {Threei}  wtg fern

[11:42] {Threei}  CAT 1:1

[11:43] {Threei}  half out

[11:43] {Threei}  not a scalp for me

[11:43] {Threei}  and here comes my cascade predicted by magoo

[11:43] {buyemsellem} keep us posted on stop moves for the CAT, please

[11:44] {magoo} where u short CAT?

[11:44] {buyemsellem} (half out)

[11:44] {Threei}  25.05 stop now, buyem

[11:44] {buyemsellem} thanks

[11:44] {Threei}  [11:20] {Threei} watching CAT

[11:44] {Threei}  [11:20] {Threei} if market firmly decides on downward, 25 breakdown will be a short trigger

[11:45] {Threei}  you really need to take me off ingore?

[11:46] {dino} huh? you say something?

[11:46] {Threei}  1:2 CAT practically, let's cover 1/4 more

[11:47] {Threei}  lol dino

[11:47] {Threei}  stop is 25.01

[11:48] {dino} oh mannnnnn, aspol, wanted 69.60, look now.

[11:48] {dino} apol

[11:49] {Threei}  next leg down is coming

[11:51] {dino} esi v sm l .60 wide risky

[11:53] {pita} gotta little CAT ty

[11:55] {Threei}  :)

[11:58] {_paliyad2009}  CAT 1:1 meaning please

[11:58] {Threei}  risk reward ratio

[11:58] {dino} sm l cpla .40

[11:58] {Threei}  withintial stop being 15 cents, 1:1 is reached at 15 cents profit

[11:58] {Threei}  1:2 at 30

[11:59] {_paliyad2009} thanks

[12:01] {magoo} STT here vad?

[12:02] {Threei}  not sure

[12:03] {Threei}  SLM... .80 break half lot short

[12:03] {Threei}  stop above .95

[12:04] {cujo} in SLM

[12:04] {Threei}  a bit too volatile, so half lot

[12:06] {Threei}  die already you SLiMe

[12:07] {cujo} SLiMe

[12:08] {dino} forgot order, sm l ..45, mant

[12:10] {magoo} mkts trying again bodss

[12:10] {magoo} boss

[12:11] {Threei}  I don't feel like going long at all

[12:11] {magoo} well u may just HAVE too lol

[12:11] {Threei}  SLM no worky

[12:14] {cujo} VAD, ss KO .90?

[12:16] {Threei}  if market resumes down, why not

[12:16] {cujo} stop .98 level?

[12:16] {dino} mant stopped -.46

[12:16] {Threei}  above 42

[12:17] {cujo} got it. 

[12:17] {cujo} Thanks. 

[12:17] {cujo} ss .90

[12:17] {buyemsellem} still have the CAT stop at 25.01?

[12:17] {dino} ouch afam, amed

[12:18] {dino} out cpla .90, +.50

[12:18] {Threei}  yes, will trail it with new low

[12:18] {dino} most likely soon, but market dropping

[12:19] {buyemsellem} OK

[12:19] {dino} i suppose w/obama having already killed financial, the medicals were obviously his next target

[12:25] {buyemsellem} and we have a new low in CAT

[12:25] {Threei}  whcih is beautiful

[12:25] {buyemsellem} indeed

[12:25] {Threei}  now, have a look at chart

[12:26] {buyemsellem} .81?

[12:26] {Threei}  and tell me where you would place new stop

[12:26] {buyemsellem} 24.81

[12:26] {Threei}  why... .90 was high of the bounce

[12:26] {buyemsellem} I see, .91

[12:26] {Threei}  .80 is possible,

[12:26] {Threei}  but way too aggressive

[12:26] {buyemsellem} .91 more conservative, cool

[12:26] {Threei}  too easy to get shaken out

[12:26] {buyemsellem} yup

[12:26] {Threei}  so, it's kind of personal prefernce

[12:27] {buyemsellem} got it

[12:27] {Threei}  some want to give it a bit more room and try to maximize the profit,

[12:27] {Threei}  some want to save every cent earned

[12:27] {Threei}  but we are cascading again

[12:27] {Threei}  and there is no slightest sign of market being supported

[12:27] {cujo} ko isn't dropping with mkt

[12:27] {buyemsellem} I'm going to try the conservative route, I'll be happy with the result either way

[12:27] {Threei}  I say let it drop

[12:27] {cujo} makes me worry

[12:28] {cujo} little bit...

[12:28] {Threei}  me thinks you worry too much...

[12:28] {Threei}  10 cents stop, come on

[12:28] {cujo} you know me well...

[12:29] {Threei}  this kind of stops shouldn't cause even normal blnking, not speaking of excessive

[12:29] {Threei}  and if you are uncomfortable with its behaviour, just scratch the trade

[12:30] {Threei}  how nice of CAT to reach 1:3

[12:30] {cujo} very nice.good kitty

[12:34] {dino} cpla sm l .30

[12:36] {dino} well that entry sucked

[12:39] {Threei}  (RU) RUSSIAN GOVT IS REPORTEDLY MULLING SPECIAL FUND TO POOL DISTRESSED BONDS

[12:39] {Threei}  a lot of reports lately about coming Russia/Ukraine financial troubles

[12:40] {dino} still messing w/those czar bonds huh, :)

[12:40] {Threei}  well, you know how they joked about major fault of the last czar...

[12:41] {dino} western european bank are going to get hurt by them

[12:41] {buyemsellem} what's that?

[12:41] {Threei}  "he left food for only 70 years"

[12:42] {Threei}  CAT:

[12:42] {Threei}  if drops to .60 from here, stop can be trailed to .81

[12:42] {buyemsellem} got it

[12:42] {Threei}  see lower BB coming into .60?

[12:42] {Threei}  the idea now is:

[12:42] {buyemsellem} yes

[12:43] {cujo} Vad can i move stop oon KO to .92?

[12:43] {Threei}  if it comes into lower BB and finds support there without making new low, it's time to trail tighter to preserve profit in case of double bottom

[12:43] {Threei}  absolutely cujo, you are around 1:1

[12:43] {buyemsellem} ok, i see, thanks

[12:44] {cujo} yup. just got out 1/2

[12:44] {cujo} 1/3

[12:44] {Threei}  and you wanted to dismiss the trade

[12:45] {Threei}  Isay let them work

[12:45] {Threei}  keep the plan

[12:45] {cujo} i didn't want to tell you, but i have a coke problem

[12:45] {cujo} jk of course

[12:45] {dino} the soda i hope

[12:45] {cujo} yes another pun gone wrong

[12:46] {Threei}  stop to .81 CAT

[12:47] {buyemsellem} ok

[12:51] {Threei}  see how it formed typical double bottom with higher low?

[12:51] {buyemsellem} yeah, that's a signal of reversal?

[12:52] {Threei}  not definite yet,

[12:52] {Threei}  but the reason to trail stop tighter for sure

[12:52] {buyemsellem} yep

[12:53] {Threei}  let me try and put it this way

[12:53] {cujo} stop on KO moved to .88

[12:53] {Threei}  no development is for sure,

[12:53] {Threei}  but each is a kind of test

[12:53] {buyemsellem} of course

[12:53] {Threei}  CAT tested the support and held it

[12:53] {Threei}  not good for downtrend continuation, right?

[12:54] {Threei}  now it has to test the resistance,

[12:54] {Threei}  if it breaks it, no reason to stay short

[12:54] {buyemsellem} right

[12:54] {Threei}  if it fails the test of resistance, it won't have proved itself to reverse

[12:54] {Threei}  thus short is intact until new test results come in.

[12:57] {buyemsellem} well, that .80 area has certainly proven to be resistant thus far

[12:58] {Threei}  yup, shows that trailing stop to it is reasionable step

[12:59] {cujo} out KO .78

[13:01] {Threei}  small profits add up

[13:01] {cujo} yeah

[13:01] {cujo} happy with trade

[13:01] {cujo} just s little over 1:1

[13:07] {pita} later all

[13:07] {cujo} ss bac .52

[13:08] {Threei}  SLM

[13:08] {Threei}  SSUES STATEMENT

[13:08] {Threei}  - CEO: "In 2008, we worked closely with Congress and the Administration to ensure continued access to federal student loans at no increase in cost to taxpayers. Through our loan delivery systems and financial resources, we committed to make federal loans to every eligible student at every school in the country. We are proud that in this economic crisis, we provided more loans to more students than ever before, and we did it using lower-cost federal funding similar to what is being proposed today We look forward to bringing these same resources to the table to help the Administration and Congress achieve their objectives.

[13:08] {Threei}  - As more details emerge in the weeks and months ahead, we will continue to work with the Administration and Congress to implement the best solution for students, schools and taxpayers. We stand ready to continue to deliver student loans that best meet families needs. We are committed to delivering and servicing federal student loans, regardless of their funding source. "

[13:10] {cujo} out 1/2 .42

[13:11] {Threei}  cat stop to .71

[13:11] {Threei}  1:3 and counting

[13:11] {buyemsellem} very nice

[13:12] {fernp} wonderful trade. great lesson Vad

[13:12] {Threei}  :)

[13:14] {magoo} surprisesurprise red

[13:14] {cujo} Bac out full for small scalp (+.10)

[13:25] {wulff} What's the read on the afternoon? hard to tell

[13:26] {Threei}  depends on the timing of the next speech

[13:26] {wulff} mine?

[13:26] {Threei}  lol

[13:27] {Threei}  sorrty but I meant a little more influential person :)

[13:27] {Threei}  no offense :)

[13:30] {wulff} I am very influencial among my peeps

[13:30] {Threei}  ok, then please tell me stocks are among your peeps

[13:30] {Threei}  we will make a fortune in two days and retire

[13:32] {buyemsellem} If CAT goes down from here you should use this trade to make a DVD about trailing stops

[13:32] {buyemsellem} textbook

[13:32] {wulff} privilaged information

[13:33] {wulff} in RIMM .20

[13:33] {magoo} .19 here

[13:33] {Threei}  SWEDISH PM: GM MUST KEEP SAAB OR FIND A NEW OWNER TO GAIN ACCESS TO GOVT LOANS

[13:34] {dino}  lol, nobody wants it

[13:35] {wulff} my wife does

[13:43] {Threei}  CAT done

[13:43] {wulff} out of the woods MAgoo

[13:43] {jmb} Thanks Vad CAT

[13:43] {Threei}  welcome :)

[13:44] {buyemsellem} that was fun

[13:44] {Threei}  and profit

[13:44] {Threei}  and it's legal??

[13:44] {Threei}  sheesh

[13:44] {dino} cpla  out .10, +.80

[13:44] {buyemsellem} ha

[13:45] {cujo} gs pullback to .50?

[13:45] {cujo} didn't happen 

[13:45] {Threei}  if it pulls back, most likely will bottom just under .50

[13:45] {cujo} got ya.  Will keep an eye on it. 

[13:46] {magoo} out rimm .38

[13:46] {wulff} gj

[13:47] {cujo} good one Wulff

06[13:47] * Threei slaps magoo around a bit with a large suggestion to moderate this combination of fun ad profit lest gods get angry. Either sulk while making money or have fun while losing.

[13:47] {magoo} OY

[13:47] {magoo} lol

[13:48] {magoo} rimm really powerless today

[13:48] {magoo} tech inm general i guess

[13:49] {magoo} STT VAD..read here

[13:49] {magoo} 27.50 holds well

[13:50] {Threei}  I don't like buying breaks on STT

[13:53] {Threei}  watch GS off .40 or so

[13:53] {cujo} went in .53

[13:53] {Threei}  if market resumes, it's likely to return to 94 and break it

[13:56] {Threei}  took .43

[13:56] {cujo} nice entry

[13:57] {Threei}  half out .72

[13:57] {cujo} went to the well twice. Couldn't bring myself to go in again.

[14:00] {Threei}  out balance

[14:16] {Threei}  now, this is news worth a whole headline

[14:16] {Threei}  RAI

[14:16] {Threei}  URGES STATE OF NORTH CAROLINA TO EXEMPT BARS & NIGHTCLUBS FROM STATE-WIDE SMOKING BAN

[14:17] {magoo} and mkt will tank on it lol

[14:18] {Threei}  sideways action... can't get a feel for the hext direction

[14:19] {magoo} gun to head .51 % up

[14:19] {dino} sm l psys .50

[14:21] {dino} oh man, hate to see what would happen if mant missed and lowered

[14:24] {dino} psys stopped -.32

[14:24] {dino} done w/it, off screen

[14:26] {Threei}  see RIMM big offer .03?

[14:26] {Threei}  long if it's taken

[14:26] {cujo} i think i'm missing total book

[14:27] {magoo} vanished

[14:27] {cujo} stop under 40?

[14:27] {cujo} .90

[14:27] {Threei}  .95

[14:27] {cujo} got ya

[14:29] {Threei}  he is back

[14:30] {Threei}  out

[14:30] {Threei}  FDIC: TROUBLED BANK LIST GREW TO 252 IN Q4 FROM 171 IN Q3

[14:34] {Threei}  - Deposit insurance fund lost $15.7B in Q4, net charge off rate for US banks is at highest ever, reserve ratio for deposit insurance fund at lowest since 1993

[14:34] {Threei}  - Problem Bank assets at $159.4B v $115.6B q/q

[14:34] {Threei}  - Q4 Banks losses at $26.2B (first quarterly loss since Q41990)

[14:35] {dino} random action all day

[14:36] {dino} heck, aig was more than that

[14:38] {dino} out esi 109.74, +1.14 v sm

[14:41] {Threei}  NEW YORK STATE GOVERNOR SENDS LETTER TO US TREASURY REQUSTING AID FOR BOND INSURERS

[14:46] {dino} esrx may have bottomed

[14:49] {dino} mant sm l .00

[14:52] {Threei}  PSYS

[14:52] {Threei}  HEARING DEFENDED AT RAYMOND JAMES

[14:53] {dino} bit late

[14:53] {Threei}  lol

[14:54] {Threei}  let's short it?

[14:55] {dino} mant stop to .89 market drop

[14:56] {dino} [14:55] {Threei}  let's short it?

[14:56] {dino} wow, at -10+

[14:57] {Threei}  seems no such thing as bottoming today :)

[14:57] {dino} you see, only allowed one positive days/week in '09

[14:57] {Threei}  and if trying for second,powers that be give speech

[14:57] {magoo} NEWS??

[14:58] {Threei}  nope

[14:58] {Threei}  just market says what it thinks of budget, stimulus, bank rescue and general business climate

[14:58] {dino} you guys want me to start talking on cnbc every day? i could

[14:59] {Threei}  AIG

[14:59] {Threei}  REPORTEDLY EVALUATING WIDE RANGE OF POSSIBILITIES WITH THE GOVT ON THE RESTRUCTURING OF THE BAILOUT

[15:03] {dino} feel like the cheetos tiger...blah, blah, blah

[15:04] {dino} esrx sm l .65, stop lod

[15:06] {cujo} faz

[15:06] {cujo} sry, wrong window

[15:07] {nemo} faz had that cup and litle handle before it bolted through 53

[15:08] {cujo} yeah

[15:09] {dino} mant to .19

[15:10] {dino} out mant .20, +.20 reverse slip

[15:12] {nemo} mags...3:40 run?

[15:12] {dino} esrx out .95, +.30

[15:14] {Threei}  let's make bets?

[15:15] {Threei}  -150, possibly -200

[15:15] {nemo} on the S&P :)

[15:15] {Threei}  DJI

[15:15] {nemo} I figured, and frankly, I'm with you

[15:19] {dino} uh oh, forgot one, cpla l sm .56

[15:21] {dino} ndx at mondays' low

[15:22] {Threei}  and going lower, IMO

[15:22] {Threei}  GM

[15:22] {Threei}  DELAYS 10-K

[15:25] {wulff} I say we close positive

[15:25] {Threei}  I appreciate the self-sacrifice for the sake of having a bet :)

[15:25] {wulff} LOL

[15:26] {dino} we can't wuff

[15:26] {dino} [14:57] {dino} you see, only allowed one positive days/week in '09

[15:28] {Threei}  CAT new 52 week low

[15:28] {Threei}  ever since we first shorted it at 30, we could just go to sleep and wake up today

[15:29] {cujo} have to tone down the room to PG-13?

[15:31] {Threei}  well, it's a trading room... a lot of people read the log as turned out... people have different ;political inclinatrions, and while I do not hide mine I simply have no intention to turn the logs into subject of discussion of politics

[15:31] {dino} good one nemo

[15:31] {Threei}  I get enough idiotic e-mails as it is :)

[15:32] {Threei}  how about one I got a week ago, lemme find it

[15:32] {cujo} do you have a big T+1 following?

[15:33] {Threei}  here it is

[15:33] {Threei}  You say you trader. You not use indicator.

[15:33] {Threei}  You not trader.

[15:33] {Threei}  S.

[15:34] {dino} maybe he ment traitor

[15:34] {dino} you know what they say 3i

[15:34] {Threei}  whatever... this kind of e-maails is direct threat to my life - I almost died laughing of this one

[15:34] {dino} theres a chair for every azz

[15:35] {Threei}  hehe

[15:35] {cujo} maybe he has the secret indicator...?

[15:35] {wulff} 50 pts VAD

[15:35] {Threei}  hmmm... market seriously trying to recover? can't be

[15:35] {Threei}  but what do I know... I not use indicator... I not trader

[15:36] {dino} well, i guess theres only one way to trade then

[15:40] {Threei}  strange day... nicely positive but no feeling of fun

[15:40] {Threei}  rather tiresome

[15:41] {dptl} you don't have indicator ..thats all.....lolo

[15:41] {Threei}  yeah I guess

[15:41] {dino} out cpla major slip from .24 to .09, in any case, +.54

[15:41] {Threei}  that's it

[15:43] {dino} i'm thinking i'm done for day, good one and not much time left

[15:43] {Threei}  don't leave dino

[15:43] {Threei}  we have bet to be resolved

[15:43] {Threei}  and wulff seems to be going for gold

[15:43] {cosmo} "stoc-relative strength" is a fun indicator

[15:44] {cosmo} but... no matter..

[15:44] {dino} ok, i'll hang, just done

[15:44] {dino} discipline trumps conviction, as they say

[15:44] {nemo} Wow, and Larisa won't get to see this

[15:44] {wulff} Who's gold?

[15:45] {Threei}  discipline may trump conviction, but indicator trumps them all

[15:46] {dino} lol

[15:47] {dino} 944 gold

[15:48] {cosmo} it got to 850 back in 1979 .... should be doing better than that by now.

[15:49] {Threei}  well, adjused by inflation it's doing much better

[15:49] {Threei}  I mean NOT doing much better

[15:49] {cosmo} whew

[15:49] {Threei}  lol

[15:50] {patience} tsx up 243 so far...been good to me this week

[15:50] {Threei}  wo minutes wulff... 40 points still

[15:50] {Threei}  10 minutes

[15:51] {Threei}  sctually... in cotext of all the numbers we got this morning, I'd say market held remarkably storng

[15:51] {Threei}  strongly

[15:52] {Threei}  and we had only one speech today

[15:54] {Threei}  Christina Romer on CNN

[15:54] {Threei}  250K for tax purposes per household

[15:54] {Threei}  not per person

[15:54] {cosmo} darn

[15:54] {patience} ouch

[15:54] {Threei}  divorse cosmo

[15:55] {Threei}  or divorce

[15:55] {Threei}  EBAY EXEC: PLANS TO MAKE CHANGES EVEN IF THE MOVE HURTS THE BOTTOM LINE - CONF CALL

[15:56] {Threei}  huh?

[15:56] {Threei}  is change becomes new fashion?

[15:56] {Threei}  is becomes... nice grammar

[15:56] {buyemsellem} and the bottom line is out

[15:56] {wulff} wulff retires beaten to his den.

[15:56] {Threei}  4 minutes still

[15:56] {Threei}  no green but I have to say...

[15:56] {Threei}  I expected much worse close

[15:57] {cosmo} the day is young

[15:57] {Threei}  ya think?

[15:57] {cujo} cosmo, you on the west coast?

[15:57] {wulff} got caught in that GS fall

[15:57] {cosmo} yes

[15:57] {cujo} nice

[15:57] {cujo} 1pm close, hit the golf course. 

[15:58] {Threei}  with what?

[15:58] {cujo} :)

[15:58] {Threei}  not the market where blown stops are forgiven wulff...

[15:58] {cosmo} nope .... too sunny

[15:58] {wulff} got back more than I thought

[15:59] {Threei}  NASDAQ closes at the low

[16:00] {dptl} have a good evening all

[16:00] {Threei}  so does DJI

[16:00] {Threei}  take care dp

[16:00] {Threei}  okay guys

[16:00] {Threei}  thank ytou all

[16:00] {Threei}  havce a good evening

[16:00] {Threei}  see you tomorrow

[16:02] {fernp} good evening all

[16:03] {dino}  thx all

[16:04] {buyemsellem} thanks see you tomorrow

[16:05] {cujo} catch you all later

[16:06] {Threei}  DELL is getting killed

[16:06] {dino} deck too