Monday, January 4, 2010

Jan 04 2010

Volume improved a bit but the market stayed locked for the most part of the day which didn't provide many trading opportunities. with a few winning trades scattered here and there, stops still prevailed.

Session Time: Mon Jan 04 00:00:00 2010

[08:10] {ese} good morning and happy new to you all
[08:10] {nemo} dude
[08:11] {strider} :)
[08:11] {strider} you're up early, ese.
[08:11] {ese} dude
[08:11] {ese} st
[08:11] {strider} STEC may be moving.
[08:11] {ese} ya for sure.....couldn't sleep.....couldn't wait to get back to it
[08:12] {Threei} CPHD Receives FDA Emergency Use Authorization for First 2009 H1N1 Influenza Assay for CLIA 'Moderate Complexity' Laboratories
[08:12] {Threei} LVS UBS Raised LVS to Buy from Neutral, price target: $20
[08:12] {ese} had my eye on it when it was in the 12's
[08:12] {Threei} good morning
[08:13] {ese} but didn't like the volume last month and was not sure about's made anice move into 16/17
[08:16] {ese} read on the weekend that there is still 3.2 trillion dollars sitting in money market funds yet to be committed to the market
[08:20] {ese} things are as they should be the time those people decide to commit....the market is at a top and then they ....welll you figure it out
[08:23] {ese} morning the way.....
[08:23] {Threei} ese :)
[08:25] {ese} baltic dry index up for the first time in 15 sessions
[08:28] {ese} you got your eye on anything vad
[08:30] {Threei} LVS
[08:30] {Threei} CPHD
[08:30] {Threei} NVDA
[08:30] {Threei} NVDA Broadpoint AmTech Cuts NVDA to Sell from Hold, price target: $14
[08:31] {nemo} In "Normal" times January tends to be tech sell off time
[08:38] {ese} now why is that nemo?
[08:39] {nemo} it's been a consistent cycle, likely because so much tech today is consumer related..after Xmas, time for a respite
[08:45] {ese} gotcha....makes sense
[08:49] {ese} this is the start of how many years trading Vad ?
[08:50] {Threei} 14th
[09:02] {Threei} Las Vegas Sands Corp Goldman Sachs Reinstating coverage with a Neutral rating
[09:02] {Threei} - Believes company is in a better position, both financially (leverage down to 6.4X from 10X) and from an operational perspective ($500M in cost cuts), than it was just a few quarters ago
[09:02] {Threei} - The restart of construction in Macau and the Singapore opening provide a growth path. However, the Las Vegas market faces 13% supply growth that could weigh on room rate recovery, the Singapore ramp is likely to be volatile given the phased opening, and the company still faces increasingly challenging covenant tests at the US restricted group.
[09:05] {ese} long 15 .65 vad?
[09:05] {ese} or 15.70
[09:06] {Threei} so far .65 break... but I'd really prefer the setup to form a bit later
[09:12] {ese} vad do you already have an order of some kind in? or do you wait
[09:13] {Threei} no, just waiting for a setup to shape up
[09:13] {ese} tks
[09:13] {Threei} gap is too big for me to just jump in here
[09:13] {nemo} yeah, look at the offer at .65
[09:14] {nemo} Hey Raven, wings cold?
[09:14] {Threei} what's the rush... whole year ahead
[09:14] {ese} indeed
[09:20] {Les} yeh but we wanna make money now!
[09:20] {Les} gm :)
[09:21] {Threei} morning les
[09:21] {dino} gm all
[09:21] {Threei} dino
[09:22] {Raven} morn nemo ... wings at 23F
[09:22] {strider} morning all.
[09:22] {Threei} strider :)
[09:22] {fernp} Good morning everybody. Happy 2010
[09:22] {Threei} fern :)
[09:25] {strider} STEC small move
[09:25] {lasertrev} morning
[09:26] {strider} morning trev.
[09:26] {Threei} trev :)
[09:26] {lasertrev} :)
[09:26] {Threei} trev, should we use x-account or normal one today?
[09:26] {lasertrev} yes
[09:26] {strider} ha!
[09:26] {nemo} that was helpful trev
06[09:26] * nemo slaps lasertrev around a bit with a large trout
[09:26] {Threei} good answer... let's try again? :)
[09:27] {nemo} ahhhh....first trout of the year!
[09:27] {lasertrev} lol, x account please
[09:27] {Threei} is it for the whole year?
[09:27] {lasertrev} from now on
[09:27] {lasertrev} forever
[09:27] {ese} good to get that off your chest eh nemo
[09:27] {Threei} can they take away non-x one?
[09:27] {fernp} holaun da s
[09:27] {Threei} 'cause I know one day I'll forget to switch
[09:27] {fernp} ooops
[09:27] {fernp} wrong window
[09:28] {nemo} ehhh...just lucky
[09:28] {lasertrev} i think they will shortly
[09:30] {ese} and were off.....good luck to this year
[09:30] {ese} all
[09:31] {strider} AMZN drop
[09:32] {ese} L lvs .64
[09:34] {fernp} NVDA dropping
[09:34] {Les} .78 b/o fcx?
[09:34] {Les} .82 excuse me
[09:34] {ese} out lvs .70 +.06
[09:35] {Threei} I'd take .80 break
[09:35] {Les} holdign .70
[09:36] {ese} tks for lvs vad
[09:36] {Threei} :)
[09:36] {Threei} offer FCX closer to 83 les
[09:36] {Threei} should spike now
[09:37] {Threei} there you go
[09:38] {Les} nice one
[09:38] {Les} but not in
[09:38] {strider} RGR upgrade nemo:)
[09:39] {nemo} hehehe
[09:39] {Threei} why nor... perfect setup
[09:39] {dino} meli
[09:40] {Les} what? RGR b/d?
[09:40] {Threei} I am talkjing about FCX
[09:40] {Les} oh
[09:41] {Les} trouble filling. whatever algorithm manages paper trading didn't wanna let me have it
[09:41] {strider} NVDA bounce
[09:42] {Les} chased a couple of cents but not further. damn thing was bouncing up and down
[09:43] {Les} fcx seems strange after moving so sleepily last few weeks
[09:45] {Les} why is GLD ranging so tightly?
[09:45] {Threei} (US) Preview: Dec ISM Manufacturing Index due out at 10:00ET
[09:45] {Threei} **consensus expectations:
[09:45] {Threei} - ISM Manufacturing: 54.3e v 53.6 prior (estimates range between 52-56).
[09:45] {Threei} - Prices Paid: 57.2e v 55.0 prior.
[09:46] {ese} if you get a chance take a look at lvs again vad
[09:46] {Threei} CSIQ strength, interesting against the background of FSLR weakness
[09:47] {Threei} volume dries up into this advance ese
[09:47] {Threei} I don't like it for long
[09:47] {ese} tks
[09:49] {nemo} lvs right at some long-term level I have on my charts
[09:49] {strider} hosrt HOG .55
[09:49] {strider} short
[09:49] {Threei} BRCM
[09:50] {Threei} wow ARST
[09:51] {Les} fcx b/d .25 trigger .40 stop?
[09:53] {_billyc} Good Morning All.
[09:53] {Threei} billy :)
[09:53] {Threei} Long Setup: BRCM .32
[09:53] {Threei} if stays above .25
[09:56] {Les} out fcx .10 +.13
[09:57] {Les} BRCM still valid?
[09:57] {Threei} nah
[09:57] {Les} k
[09:57] {fernp} stopped here
[09:58] {Threei} shakeout
[09:58] {fernp} grrrr
[09:59] {strider} out +.04
[10:00] {Les} volume die off in fcx. traders awaiting news release?
[10:00] {Threei} *(US) DEC ISM MANUFACTURING INDEX: 55.9 V 54.3E; PRICES PAID: 61.5 V 57.2E
[10:00] {Threei} US) NOV CONSTRUCTION SPENDING (M/M): -0.6% V -0.5%E
[10:00] {Threei} - prior revised from 0.0% to -0.5%
[10:00] {Threei} that was very rude of BRCM
[10:00] {fernp} yeah
[10:01] {fernp} CSIQ if breaks .20, Vad?
[10:02] {Threei} chgart is right, it's just this stock that is so not a breakout one...
[10:02] {Threei} not sure
[10:02] {fernp} 5 cents spread
[10:02] {fernp} don't like it. TY
[10:03] {Les} brcm again vad? .50 trigger?
[10:03] {Threei} not by me
[10:04] {Threei} it managed to shake us out even on pullback entry
[10:04] {Threei} no frikin way I'd go for breakout on it
[10:05] {dino} cagc
[10:06] {Les} ok. so one can take a shakeout as a warning of unpredictability?
[10:06] {Threei} rather: it's not a stock that can be traded today this way
[10:10] {Threei} interesting thing that intrigues me:
[10:11] {Threei} oil is going up, security concerns make travel less attractive,
[10:11] {Threei} yes look at UAUA
[10:11] {fernp} HIG .71, Vad?
[10:11] {dino} was thinking same 3i, should be crushed
[10:11] {Threei} worth a try
[10:12] {nemo} could be a volume exhaustion spike fern
[10:12] {strider} out HOG +.18
[10:12] {fernp} ok
[10:12] {Threei} yes dino
[10:12] {fernp} gj strider
[10:12] {dino} gj strider
[10:12] {Les} oh right, you mean its relative strength?
[10:12] {Les} nice st
[10:12] {Threei} instead of hard landing, holds fairly close to highs on daily
[10:12] {nemo} PPT at it again
[10:12] {strider} thanks guys
[10:13] {Threei} in red today but not the kind of red you'd expect looking at the situation
[10:13] {Les} so traders not ready to sell off airline stocks yet?
[10:13] {Threei} I'df keep an eye on the sector
[10:14] {dino} their expenses are going up huge, fuel/security, plus they never really make $ anyway
[10:14] {Threei} fern, on HIG
[10:14] {dino} would have rather obama took them over instead of autos
[10:14] {Threei} .65 or .60
[10:14] {nemo} any bets traders betting on government backstop
[10:14] {Threei} both are valid
[10:14] {fernp} ty
[10:14] {dino} good point nemo
[10:15] {strider} jumped the trigger
[10:15] {strider} HIG
[10:15] {Threei} don't chase, see if it pulls back
[10:15] {strider} k
[10:15] {fernp} yeah, was impossible
[10:17] {Les} UAUA related to JAL's success in getting further subsidies?
[10:17] {Les} new bailout coming?
[10:18] {Les} sorry Nemo, my intellect clearly lags yours
[10:18] {nemo} huh? what?
[10:18] {Les} bailout of airlines
[10:19] {nemo} wouldn't be the first time Les
[10:19] {Les} :D
[10:19] {Threei} if went for HIG on this pullback, stop is under .65
[10:19] {Threei} no two options anymore
[10:20] {Threei} anf eel free to start booking
[10:20] {strider} AMZN dying today.
[10:20] {nemo} Xmas over
[10:21] {Threei} this is what I thought of Xmas of 2008, nemo
[10:21] {Threei} but then next one came so quickly
[10:21] {Threei} I was like "wait a minute, didn't we just do thwe whole thing"
[10:21] {nemo} lotta' short coma
[10:21] {nemo} that year
[10:21] {Threei} must be age thingy
[10:21] {ese} L egle .21
[10:22] {Threei} years start flying by rapidly
[10:22] {Les} keep it to yourselves. some of us don't want to know about ageing yet...
[10:23] {Les} although with daughter turning 9 on new years, age is catching up fast...
[10:23] {Threei} you keep it to yoursel;f, sdome of us don't want to hear about that energetic youthfoulness
[10:23] {strider} youthfoulness :)
[10:24] {Les} threw that out the window when I chose to sit down 6 hours a day with you vad
[10:24] {Threei} I thought you'd tap in that strider :)
[10:24] {Les} growing respectable beer gut now
[10:24] {ese} egle stop .15
[10:25] {Threei} ok, let's try this
[10:25] {Threei} Short Setup: BRCM .30 break
[10:25] {strider} duh
[10:26] {nemo} nope
[10:26] {Les} if holding?
[10:26] {Threei} .40
[10:26] {strider} k
[10:27] {strider} I think not, said Descartes.
[10:27] {strider} And promptly disappeared.
[10:27] {ese} rats....missed lvs
[10:28] {nemo} that was Bilbo
[10:28] {strider} Sat through the Trilogy this weekend. God, that's long.
[10:28] {ese} yup
[10:28] {Threei} Short Setup: AIG .60 break if stays below .70
[10:28] {dino} arst
[10:30] {strider} in .57:(
[10:30] {Threei} wow... entry 29.5999
[10:30] {Threei} lol
[10:31] {strider} insider trading.
[10:31] {strider} X rocks.
[10:31] {Threei} Market Internals update at 10:30amET
[10:31] {Threei} - NYSE volume 220M shares, about 15% below its three-month average; advancers lead decliners by 6 9:1.
[10:31] {Threei} - NASDAQ volume 485M shares, about 4% below its three-month average; advancers lead decliners by 4.2:1.
[10:31] {Threei} - VIX index -3.5% to just over 20.50
[10:32] {Threei} volume improves significantly
[10:32] {Threei} what's with VVTV?
[10:32] {Threei} I see no news
[10:35] {Threei} BAC CEO says BoA does not have to change their strategy- TV interview (15.48, +0.42, 2.79%)
[10:35] {Threei} because old one worked so well for them I guess?
[10:36] {dino} lol
[10:36] {Threei} anyone is still in HIG?
[10:37] {strider} lemme guess. You are.
[10:37] {Threei} no
[10:37] {dino} wow bucy
[10:37] {Threei} sold .81
[10:38] {magoo} morning
[10:38] {Threei} mags :)
[10:39] {Threei} let's scratch AIG here
[10:39] {Threei} doesn't feel right anymore
[10:40] {Les} yes not confident of it. ty.
[10:40] {fernp} out
[10:45] {Les} FCX creating large ascending triangle.
[10:48] {Threei} Short Setup: RIMM .65 break
[10:48] {Threei} if stays under .76
[10:49] {Threei} opposite setup is valid as well
[10:49] {fernp} SDS breakdown, Vad?
[10:49] {Threei} yes
[10:49] {fernp} k
[10:50] {Threei} WATG Update: Electric Motor to be Installed in Electrical Taxis (12.67, +0.93, 7.92%)
[10:50] {Les} ok. l rimm .77
[10:51] {Threei} WATG - Announced that one of its major customers, WEV has obtained 100 AEV licenses for its electric taxis from the local government, which is planning to increase the number of licenses accordingly in the following years. Wonder Auto's electric motor will be installed in these taxis, which include more than 10 different models of 2-seat and 4-seat vehicles.
[10:51] {Threei} - Electric motors will become another strong growth driver to our total sales revenue in the future.
[10:52] {Threei} RIMM if works, looks to me good for above .90
[10:53] {strider} stop .60 or .65?
[10:53] {Threei} .65
[10:54] {Les} stopped again
[10:59] {strider} short HOG .61
[11:00] {strider} next time I think about trading RIMM, someone please whack me with a large trout.
[11:00] {dino} will do
[11:00] {Threei} you know that's going to be the exact time it works like charm, right?
[11:00] {strider} thks
[11:01] {strider} yeah, but 1 win vs. multiple losers doesn't work for me:)
[11:01] {Les} CAT is on a roll
[11:03] {dino} hl s arst .28 stop .51
[11:04] {dino} bucy one more spike then down
[11:04] {patience} .
[11:05] {dino} here it comes
[11:07] {nemo} this cold weather might keep bucy going, joyg keeps going
[11:08] {Threei} and we thought global warming meant we can short them
[11:08] {nemo} climate change
[11:11] {Les} X .10 b/d? .25 stop?
[11:11] {dino} stopped arst
[11:11] {Les} am looking to see if it bounces off 50 MA
[11:11] {Threei} 50/50 X
[11:12] {Les} k
[11:16] {Les} l X .21. tight stop
[11:16] {fernp} SWKS interesting
[11:20] {Les} stopped X
[11:21] {strider} short HOG, avg. .575, stop .60
[11:21] {strider} stop .65
[11:24] {dino} bucy sm s .85 bstop .02, jumpy
[11:26] {Les} vad X 58 B/d?
[11:27] {Threei} STILL 50/50
[11:28] {Les} ok. has fallen through 50 ma. will wait for backtest of resistance
[11:30] {Les} CAT?
[11:31] {Les} .90 b/o?
[11:31] {Threei} hard to tel, actual high is .95
[11:32] {fernp} btw SDS hit 1:1
[11:32] {Threei} yup, saw that
[11:32] {Threei} if CAT holding .85 from now on, maybe worth it
[11:33] {Les} ok. 50 MA playing catch up
[11:33] {Threei} but with stop this tight, don't just scalp it
[11:33] {Threei} unless you play huge shares
[11:33] {Threei} offer half into spike over .95
[11:34] {dino} bucy stopped -.17\
[11:34] {Threei} and try for second half well above 59
[11:34] {Les} what? you meant aggressive entry at .85?
[11:34] {Threei} hmm?
[11:35] {Les} was waiting for new high to be broken
[11:35] {Les} .95
[11:35] {Threei} I was answering about .90 break entry
[11:35] {Threei} here is exit for firsat half
[11:35] {Les} ahh. I upped entry to .95 when you said that
[11:37] {Threei} didn't imply change of entry
[11:37] {Les} understood now
[11:37] {Threei} here comes exit for second half
[11:37] {Threei} and first idiot hour this year starts with:
[11:37] {Threei} US Economist Krugman: House prices may fall another 5-10%; there is a 30-40% change of double dip recession
[11:37] {Threei} - Feels that the Fed ending of MBS purchases could add a full point to mortgage rates and will not be helpful
[11:37] {Threei} - Fed must provide more stimulus
[11:37] {Threei} - notes that unemployment will likely rise and housing may be struggle after March
[11:38] {nemo} I'm picturing the alcoholic priest in the liquor store in that bad Keanu Reeves movie
[11:38] {Threei} let me reiterate, in case you missed the apogee of idiocy:
[11:39] {Threei} - Fed must provide more stimulus
[11:39] {Threei} - Fed must provide more stimulus
[11:39] {Threei} - Fed must provide more stimulus
[11:39] {nemo} Does Krugman suggest who will buy all the new debt?
[11:40] {Threei} as most lefties, he doesn't bother much with reality
[11:40] {Threei} not that righties are much better, mind you
[11:41] {nemo} no they just cut taxes without comparable spending cuts
[11:41] {Threei} yeah
[11:41] {fernp} any read in AMAT, Vad?
[11:41] {Threei} I hate its slowness fern
[11:41] {fernp} ok ok
[11:41] {Threei} today is incredible day for it
[11:42] {Threei} it's the fastest I've seen it in many years
[11:42] {fernp} lol
[11:42] {strider} stopped HOG -..09
[11:43] {nemo} gone to the trough one too many times.hahahaha
06[11:44] * strider slaps nemo around a bit with a large slab of bacon.
06[11:44] * Threei hands strider huge frozen trout
[11:44] {strider} That's a fair trade.
[11:44] {nemo} cmon, that was a good one
[11:44] {dino} nemo, constantine?
06[11:44] * strider slaps nemo around a bit with a large gold star.
[11:44] {nemo} yeah, that was it
[11:45] {Threei} two federal marshals shot in courtroom in LV
[11:45] {nemo} cool
[11:46] {nemo} amzn developing reverse H&S
[11:46] {ese} vad do you have any copies of your book let after christmas
[11:46] {Threei} which one?
[11:46] {ese} left
[11:46] {ese} techniques of tape reading
[11:46] {Threei} I never had that
[11:46] {Threei} we don't sell it
[11:47] {Threei} MPP we do
[11:47] {ese} oh
[11:47] {Threei} icon on our site provbides a link to Amazon
[11:48] {ese} my brother is coming in from toronto on wed and i wanted to give him a copy
[11:48] {Threei} so I can make a search easier :)
[11:48] {ese} how bout profit plan
[11:48] {dino} easier to give him a beer
[11:48] {fernp} hey Vad, is still available your first online-book called job-daytrade?
[11:48] {Threei} that one I have ese
[11:48] {nemo} nice spanish syntax there fern
[11:48] {Threei} lol... no fern
[11:48] {fernp} ok
[11:49] {ese} ok.....will pop by one day after wed to get one
[11:49] {Threei} everything it had is in latest wortks, and much more
[11:49] {fernp} thanks for the info
[11:50] {Threei} gosh, how did you even find out about it... I thought it's long forgotten
[11:50] {fernp} in AMAZON reading your bibliography
[11:51] {Threei} I guess it's true that whatever appeared on Internet is there forever
[11:52] {Threei} now, how do I track down that video...
[11:52] {nemo} oh 'Vadimals"?
[11:52] {strider} I think the dept. of HEW took that one off, vad.
[11:53] {fernp} I spent some hours this weekend trying to fing the damn book :-)
[11:53] {ese} HEW?
[11:53] {strider} old.........
[11:53] {strider} Health Education, Welfare.
[11:53] {ese} ah
[11:54] {Threei} I stumbled onto it on some of old hardrives recently fern... was fun to reread it
[11:55] {Threei} not bad for early attempt actually... just a bit too "abbreviated" I'd say
[11:55] {Threei} written with assumption that a reader has tghe same observations as I do
[11:55] {Threei} TTR starts way earlier and goes way farther
[11:56] {ese} excellent book.......if i do say so myself
[11:57] {Threei} I wholeheartedly agree
[11:57] {fernp} so TTR is an evolution of "job-daytrade"
[11:58] {fernp} yeah, great book
[11:58] {Threei} you can call Job - Daytrader a table of content for TTR :)
[11:58] {Threei} exaggerating a bit of course...
[12:00] {strider} long STEC 18.05/stop 17.90
[12:00] {Threei} JOYG...
[12:00] {Threei} huge offer at .40
[12:01] {nemo} not sure when I put it there, but I have resistance at .52 on joyg
[12:01] {Threei} half lot long on break if stays above .30
[12:01] {Threei} forecast for a freeze to become even deepewr
[12:02] {nemo} I looked at the 15 day forcast here, barely gets to freezing at any time during that period
[12:05] {dino} 4 days in row here under 16
[12:05] {Threei} Market Internals update at 12:00pmET
[12:05] {Threei} - NYSE volume 395M shares, about 15% below its three-month average; advancers lead decliners by 8 4:1.
[12:05] {Threei} - NASDAQ volume 895M shares, about 4% below its three-month average; advancers lead decliners by 3.9:1.
[12:05] {Threei} - VIX index -6.5% to just over 20.00
[12:07] {ese} out egle .27 +.06
[12:10] {fernp} .40 huge offer has disappeared, no?
[12:10] {nemo} no
[12:11] {fernp} invalidated anyway
[12:11] {Threei} yeah
[12:14] {Les} CAT .90 b/d Vad?
[12:14] {Les} .95?
[12:15] {Threei} if market reverses...
[12:15] {Les} k
[12:15] {dino} arst hl s .55, stop .82
[12:18] {fernp} any read BRCD, Vad? nice daily
[12:18] {nemo} yeah fern...pain and suffering
[12:19] {Threei} lol... pretty much
[12:19] {Threei} the way I see BRCD:
[12:19] {Threei} very good daily, , if market stays strong it will go higher, but
[12:19] {Threei} the only way tyo utilize ity wituout holding overnight or being tortured the whole day is
[12:20] {Threei} buy morning break and use this early opening volatility
[12:20] {Threei} pretty much as it did this morning
[12:20] {fernp} ok, thank you
[12:20] {Threei} look at 25 cents spike in one bar,
[12:20] {fernp} yeah
[12:20] {Threei} then whole day 10 cents range
[12:20] {ese} L seed .62
[12:21] {Threei} wow, nice one eswe
[12:22] {ese} out seed .71
[12:22] {ese} +.09
[12:22] {ese} scary
[12:23] {dino} abfs hl l .75 stop .48
[12:28] {Les} short cat .90 since 12:20. small bounce. b/d likely with market help
[12:29] {Threei} yeah it looks fine by itself, just needs market to help
[12:29] {Threei} or at least not to get in the way
[12:31] {strider} Anybody else having trouble getting Nasdaq fills?
[12:31] {fernp} not here, st
[12:32] {nemo} dino...check bucy 65 call volume
[12:33] {strider} been that way since last week. Thought it was light volume, but...
[12:34] {strider} stopped STEC
[12:34] {dino} 65s
[12:35] {nemo} yeah
[12:37] {dino} cnw, odfl, abfs blood again, 2 days brutal
[12:43] {Les} stopped CAT flat
[12:47] {dino} arst to .52
[12:51] {dino} cov arst .31, +.24
[12:51] {Threei} HGSI
[12:52] {Threei} probably not a player today but worth keeping in mind for tomorrow
[12:54] {dino} abfs stopped -.27
[12:56] {fernp} SHO on highs
[12:58] {dino} fdx lod
[12:59] {Threei} interesting news item
[12:59] {Threei} Cathay General Bancorp UPDATE: Davidson Raised CATY to Buy from Neutral, price target: $12
[12:59] {Threei} - pre-open
[12:59] {Threei} - Firm believes CATY could be considered a consolidator in the Chinese-American space, if an FDIC assisted opportunity were to arise. Such an event would be positive for the stock as the market has rewarded acquiring banks participating in FDIC assisted deals.
[12:59] {Threei} CATY
[12:59] {ese} L seed ..62 double bottom 1min cht
[13:00] {ese} should have more volume to be really legit....but it hink it'll be ok
[13:01] {ese} am sm anyhow...just 2k
[13:01] {Threei} SORL
[13:02] {Threei} I like this big offer at the day high
[13:02] {Threei} and nice consolidation
[13:02] {Threei} hate how thin it is on a bid side
[13:02] {nemo} 220 volume, that's almost everything done already
[13:05] {nemo} joyg sneaking still big offer at .40
[13:05] {Les} short fcx .33 small shares. stop .50
[13:07] {patience} .
[13:07] {Les} point being?
[13:07] {ilana} no response from CATY...
[13:08] {nemo} joyg at .40
[13:08] {Threei} Short Setup: GOLD .13 break half lot
[13:08] {Threei} if stays under .25
[13:09] {Threei} thin... not for faint heart
[13:09] {fernp} yeah, 5 cents spread
[13:09] {Threei} SORL offer moved to .36
[13:10] {dino} ivac
[13:11] {strider} short GOLD .18
[13:12] {strider} stop .28
[13:19] {Threei} Avatar rakes in more than 1 billion
[13:19] {Les} u seen it?
[13:20] {Threei} no
[13:20] {Les} pretty cool
[13:20] {Les} 3d a bit overrated
[13:20] {Les} painful to watch
[13:20] {Les} not painful, tiring
[13:24] {dino} hl l .50 odfl
[13:29] {fernp} BRCD hit 1:1 lol
[13:29] {Threei} took just about 4 hours?
[13:29] {nemo} Pain and suffering
[13:31] {fernp} not pain and suffering for me, only a bit of patience
[13:36] {Threei} die GOLD
[13:36] {Threei} RMBS Hearing vague chatter of possible judge change in upcoming patent case (22.34, -2.06, -8.44%)
[13:37] {Les} got a friend betting every thing he has in the market on RMBS
[13:37] {Threei} better yet:
[13:37] {Threei} RMBS Hearing weakness being attributed to "fat finger" trade or to vague rumor of possible judge change in upcoming patent case (22.34, -2.06, -8.44%)
[13:37] {Les} fat finger trade?
[13:38] {Threei} that's expensive fingers someone goit
[13:40] {Threei} what price friend of yours got for his truobles if you know?
[13:41] {Threei} GOLD comes to fruition
[13:42] {strider} out GOLD +.15........geez
[13:42] {Threei} lol
[13:42] {Threei} why not
[13:42] {strider} torture
[13:43] {Les} gj
[13:44] {Threei} out .91
[13:44] {strider} as usual, left most of it on the table.
[13:44] {strider} I need to get some valium.
[13:44] {fernp} great job
[13:44] {ilana} at least you got some vaDium
[13:44] {Les} don't know vad. suspect he's been buying for some time now. Maybe holding before crash.
[13:44] {strider} oh, Ilana.
[13:45] {Threei} clap clap
[13:45] {fernp} good one ilana. lol
[13:45] {Threei} not too shabby for English as a third language eh
[13:45] {strider} I need the valium o counteract the vadium.
[13:45] {strider} to
[13:46] {Threei} ok strider... unless you are female of according appearance, don't even think of imp[lying that I excite you
[13:46] {Threei} wow GOLD
[13:46] {strider} not exactly what I meant, vad.
[13:46] {Les} beautiful
[13:47] {Threei} I hope not :)
[13:47] {strider} It's not you, it's the stocks you trade. :)
[13:48] {strider} give me the nervous jerks, as a girlfriend used to say.
[13:48] {Threei} whew
[13:48] {Threei} {--- feels strong relief
[13:48] {strider} Yeah, I could tell you were worried.
[13:49] {Threei} yes... I go to great length to guard my very very limited prientation
[13:51] {Threei} SORL still stays close to break level
[13:51] {Threei} record snowfall in Korea
[13:51] {Threei} record cold on Beijing
[13:52] {Threei} way to go global warming
[13:54] {Les} winter was almost a no show here. finally cooled down and started snowing in last few days
[13:56] {strider} out 1/2 HOG short, +.10
[13:56] {strider} didn't go whole HOG this time.
[13:56] {Les} Nemo...
[13:58] {nemo} Les
[14:01] {Threei} APII Reiterates commitment to continue to seek a reverse merger partner (0.08, -0.00, -1.19%)
[14:01] {Threei} huh?
[14:02] {Threei} if it's anything like reverse marraige, I never got that concept either
[14:03] {Threei} ICXT
[14:03] {Threei} getting interesting
[14:04] {strider} for long?
[14:04] {Threei} yes
[14:04] {Threei} returned above 8 too fast
[14:05] {Threei} I had it in mind as long trigger, just wanted a bit of consolidation
[14:05] {Threei} not sure for now
[14:05] {strider} k
[14:06] {Threei} if doesn't low 8 anymore, break of 8.10 will be a long trigger
[14:06] {Threei} doesn't lose
[14:06] {Threei} and not a scalp
[14:06] {Threei} should be good for something like 8.40
[14:06] {dino} fdx open gap fill
[14:07] {Threei} if goes under 8 again, no trade for now
[14:09] {dino} bth
[14:10] {Threei} Long Setup: ICXT 8.05
[14:11] {strider} stop .00?
[14:11] {nemo} .95
[14:12] {nemo} invalimudated
[14:12] {Threei} will be valid again if holding .90
[14:12] {strider} in valiumidated
[14:12] {nemo} big bid .87
[14:12] {Threei} if loses it sure invalidated
[14:13] {nemo} .87 dripped to .82
[14:13] {nemo} o
[14:13] {Threei} ok, no playt, but remains on watch for another setup
[14:14] {Threei} Long Setup: ICXT 7.95 break
[14:14] {Threei} usual routine of bottom hunting started from here on
[14:15] {Threei} .85 support for setup structure
[14:15] {nemo} .87 s3 pivot support
[14:15] {Threei} moving lower for the next setup
[14:16] {Threei} .80 - .90
[14:17] {strider} out balance HOG +.22
[14:17] {Les} HOGWASH ST!
[14:19] {dino} gj
[14:19] {strider} t'anks.)
[14:20] {strider} long .92
[14:20] {Threei} now, ideal scenario is holding .90 and breaking 8
[14:21] {Threei} that would put strong fioundation under the notion of trend change
[14:22] {Threei} guy bidding at .88 would do us all a favor moving to .92 now
[14:23] {ese} Had to step out am back and have to go stopped in seed at .50 -}12
[14:23] {ese} see ya tomorow
[14:24] {fernp} bye ese
[14:24] {dino} cya es
[14:24] {nemo} due
[14:24] {Threei} take care ese
[14:24] {nemo} dude
[14:24] {Les} ciao ese
[14:24] {strider} ese:)
[14:24] {Threei} move your butt ICXT
[14:28] {strider} move stop up yet, vad?
[14:28] {nemo} break of .97 might be a trigger
[14:29] {Threei} nah
[14:29] {strider} .80?
[14:29] {Threei} yes, for now
[14:31] {Threei} hole mackerel
[14:31] {Threei} holy too
[14:31] {Threei} shootout in LV
[14:31] {dino} rmbs .85 hl l
[14:31] {Threei} not just a shot or two fired
[14:31] {Threei} real gunfight
[14:33] {ilana} RIMM 66 b/o?
[14:33] {Les} who's the bad guys?
[14:33] {ilana} ICXT stopped
[14:33] {Threei} haven't heard this since 1993, when two groups competing for control over city center accicenatlly crossed their path in a restaurant
[14:33] {Threei} why? .80 stop
[14:34] {dino} stop to b/e
[14:34] {strider} GERN
[14:34] {Threei} GERN Strength attributed to report that study on Imetelstat shows it may benefit patients with brain and prostate cancers (5.90, +0.35, 6.31%)
[14:35] {strider} sure not much interest in ICXT
[14:35] {fernp} PTEN, Vad?
[14:36] {Threei} tough stock... don't know
[14:36] {fernp} k
[14:37] {Threei} RMBS Nasdaq investigating transactions deemed possibly 'erroneous' (22.46, -1.94, -7.95%)
[14:39] {dino} out rmbs +.05
[14:44] {strider} here goes the futs.
06[14:49] * Threei kicks ICXT in the rear
[14:51] {strider} ICXT is a mule.
[14:51] {strider} Kicking it just makes it sit down on your foot.
[14:52] {Threei} lol
[14:53] {strider} no interest in this stock.
[14:54] {Les} still feels like christmas trading...
[14:55] {Threei} not at all
[14:55] {Threei} Market Internals update at 2:00pmET
[14:55] {Threei} - NYSE volume 545M shares, about 17% below its three-month average; advancers lead decliners by 5 6:1.
[14:55] {Threei} - NASDAQ volume 1.25B shares, about 6% below its three-month average; advancers lead decliners by 3.3:1.
[14:55] {Threei} - VIX index -6.5% to just over 20.00
[14:55] {Threei} it's just a gap that ate all the amplitude of the move for the day
[14:56] {Threei} so we stay locked
[14:56] {Threei} but volume changed significasntly
[14:59] {fernp} out here
[14:59] {Threei} yeah
[14:59] {Threei} RMBS Hearing Capstone Equity making positive comments; Maintains Strong Buy rating, price target $60 (timing uncertain)
[14:59] {Threei} 60?
[15:00] {Threei} that's bold
[15:00] {Les} that's what my friend is betting on
[15:01] {Threei} with it being involved in this endless court war, any bet is a pure gambling on the outcome of the case
[15:01] {Les} that's what i said
[15:03] {Les} he's waiting for the "final" judgement
[15:04] {Threei} why not... as long as he a) is willing to lose most of it in case of failure and b) doesn't call it investing or trading
[15:05] {Les} he is an IT consultant, and supremely sure of his world. I cannot argue otherwise to him
[15:06] {Threei} no need
[15:06] {Threei} he either guesses right and will be firever proud of his prowess,
[15:07] {fernp} SYK 52 breakout?
[15:07] {Threei} or giesses wrong and remains convinced that he was right but some evil intruder broke the rules
[15:07] {Threei} yes fern
[15:08] {Les} understood. he also denies that small time daytrading can be profitable... so what can I say?
[15:09] {Les} we'll see who is right in a few years
[15:09] {Threei} no need to say anything
[15:09] {Threei} qwhy would you want to argue
[15:10] {Threei} if someone denies that sun rises in the morning and sets down in the evening, why argue?
[15:10] {fernp} PTEN 1:1 here
[15:10] {Threei} fern, return this profit in the market, will ya
[15:11] {Threei} day trading can't be profitrable
[15:11] {Threei} and don't even think of profiting from SYK
[15:12] {fernp} who says such thing?
[15:12] {Threei} Les's friend
[15:13] {fernp} ahhh!! he is a doctor buying stock with EOD data
[15:13] {Les} I attract all sorts
[15:13] {fernp} out SYK
[15:13] {fernp} sorry Les's friend :-)
[15:13] {Threei} not good fern... not good
[15:14] {fernp} easy oneVad
[15:21] {Threei} Rambus Inc Nasdaq to cancel certain trades of RMBS below $20.73
[15:21] {Threei} - determined to cancel all trades in security Rambus Inc. (RMBS) at or below $20.73 that were executed in NASDAQ between 13:28:00 and 13:32:00 ET. This decision cannot be appealed.
[15:23] {Threei} so, let mne get this straight
[15:23] {Threei} someone sells short at 22
[15:23] {Threei} covers at 18
[15:23] {Threei} now his cover is cancelled
[15:23] {Les} so he is left long?
[15:23] {Threei} and he is stuck with short at 22 while srtock trades at 23?
[15:24] {Threei} why long
[15:24] {Threei} it's cover that is under 20.73 so it's canceled
[15:24] {Les} sorry, you're right
[15:24] {Threei} short is what he is left with
[15:24] {Les} my clumsy description
[15:25] {Les} so someone spreading false rumours to buy up cheaper?
[15:26] {Les} or scaring to get a good short trade in...
[15:27] {Threei} if that's inded what happened, he didn't benefit much if at all
[15:29] {Threei} RIMM near lows
[15:36] {Threei} Short Setup: RIMM .90 break
[15:36] {Threei} if stays under 66
[15:37] {Les} in
[15:39] {fernp} ty
[15:43] {Threei} over 1:1
[15:44] {fernp} yeah, good one
[15:44] {fernp} LAMR interesting here
[15:45] {strider} out +.12
[15:45] {nemo} thinny as Dino would say
[15:45] {dino} lol
[15:45] {dino} gj
[15:47] {Les} did my averaging down trick again, instead of covering. at least it was profitable
[15:47] {Threei} yikes
[15:48] {Threei} remember that confusion seemingly limited to terminology?
[15:48] {Les} too many errors today. some sleep me thinks may be in order...
[15:48] {Threei} cover sell, short, buy, bid, offer, support, resistance
[15:48] {Threei} it's not limited to terminology
[15:49] {Threei} it's lack of clarity in concepts
[15:50] {strider} holding STEC overnight, from pre-market at 17.15
[15:50] {Threei} all of it?
[15:51] {strider} good point
[15:52] {Threei} not delighted by today
[15:52] {nemo} Les' fault
[15:53] {Threei} nothing catastrophic, just usual day sprinckled with a few stops, but who said I must be delighted with stops
[15:53] {Les} no I wasn't delighted either, but I don't rack it up to lack of clarity...
[15:54] {strider} Something I've disscovered myself doing is a kind of 'picking and choosing'.......I do it by varying the share size without any reason other than lack of confidence in myself. It doesn't work very well.
[15:55] {Threei} no... there are criteria defining the share size
[15:55] {Threei} it's wired into trading system
[15:55] {Threei} start varying it for irrelevant reasons, you are messing up thew system
[15:55] {strider} I've been trading smaller share size on my trades than on yours, vad. when you have a not so great day, and I have a better day, I still loose.
[15:56] {Threei} stock liquidity, stop size
[15:56] {Threei} those are valid factors
[15:56] {nemo} time of day
[15:56] {strider} yep.
[15:56] {strider} time of day?
[15:57] {strider} that's just another way of picking and choosing, isn't it?
[15:57] {ilana} "lunchtime", right, nemo?
[15:57] {nemo} yep
[15:57] {nemo} also, trades where conviction isn't high
[15:57] {strider} If you don't have as much confidence in lunchtime, should you trade it at all.
[15:57] {strider} Well that's exactly what I'm talking about.
[15:57] {nemo} like when I like a trade and vad says "50/50"
[15:57] {strider} Less conviction.
[15:58] {fernp} im going to hold some LAMRs for tomorrow. nice daily for breakout players
[15:59] {Les} alright. will sleep on it. night all.
[15:59] {Threei} okay guys
[15:59] {Threei} thankj you all
[15:59] {strider} thanks, vad.
[15:59] {Threei} let's get'em tomorrow
[15:59] {Les} ty vad
[15:59] {ilana} gn
[15:59] {strider} Not a tererible day.
[15:59] {Threei} no
[15:59] {strider} terererererible
[15:59] {Threei} just not profitable
[16:00] {nemo} oy vay...your supposed to learn to trade from Vad, not spell!!
[16:00] {strider} you want everything?
[16:00] {fernp} Good evening everybody. see u all tomorrow
[16:00] {Threei} it's a package deal nemo
[16:00] {nemo} osmotic
[16:00] {strider} I did mostly right things I'm happy.
[16:01] {Threei} saved any trees?
[16:01] {strider} Actuallyu, yes. I shut down my woodworking shop last week.
[16:01] {_billyc} gn all
[16:01] {Threei} take care billy
[16:02] {Threei} you are supposed to kill beavers to save trees
[16:02] {Threei} BSQR Renews OEM Distribution Agreement With Microsoft
[16:02] {Threei} - agreement under which Bsquare sells Microsoft's complete line of software products for embedd...more... (related MSFT )