Wednesday, January 27, 2010

Jan 27 2010

With all the FOMC/testimonials, it was an interesting but not very readable day. First two trades of the day worked beautifully, WFC long and ALTR short, then couple smallish stops stole part of our profits, and things became increasingly random from there.

Session Time: Wed Jan 27 00:00:00 2010

[08:15] {Threei} 07:30 CAT Reports Q4 $0.41 v $0.28e(ex items), R$7.9B v $8.1Be
[08:15] {Threei} - Guides FY10 $2.50 v $2.71e, Rev +10-25% (implies range of $35.6-40.5B v $36Be
[08:43] {fernp} Good morning everybody
[08:43] {Threei} fern :)
[08:44] {strider} morning fern
[08:44] {strider} vad
[08:44] {fernp} st
[08:44] {Threei} strider :)
[08:56] {nemo} I guess my thought's about brk.b were right
[08:57] {nemo} had no idea they would be included on the S&P 500
[08:58] {Les} quiet morning
[08:58] {Les} Hello?
[09:00] {Threei} morning les
[09:01] {Les} morning
[09:01] {Les} TM moving nicely pre market
[09:02] {Les} damn. looks like its too late to pick up a Saab on the cheap
[09:03] {Threei} TM is probably hit by that suspension of sales?
[09:03] {Threei} yeah
[09:03] {Threei} Toyota Motor Corp BofA/Merrill Lynch looks at impact on earnings of temporary sales suspension on some vehicles
[09:03] {Threei} - "we assume the sales suspension will last three weeks and that all customers will turn to competitors such as Honda or Nissan, resulting in an opportunity loss of 90,000 vehicles (or 68bn). ...The eight models in question accounted for 56% of the 1.77mn vehicles recorded by Toyota in US retail sales in 2009."
[09:04] {Les} BRK.B being solidly traded pre market. would you permit a setup traded on it before opening?
[09:05] {Les} not permit, but counsel against a setup prior to opening
[09:06] {Threei} with smaller shares. maybe
[09:06] {dino} gm all
[09:06] {Threei} dino :)
[09:06] {Les} hi dino
[09:10] {Les} Vad, been meaning to ask you about your backup
[09:10] {Les} for your pc, which saved you recently with that drive crash of yours
[09:10] {Threei} yes
[09:10] {Les} what's your setup?
[09:10] {Threei} Acronis is my backup program
[09:11] {Les} saving to?
[09:11] {Threei} two spots,
[09:11] {Threei} one is second internal harddrive,
[09:11] {Threei} another is external one
[09:11] {Les} acronis does that automatically?
[09:11] {Threei} no
[09:12] {Threei} you launch it and tell it what you want to do
[09:12] {Threei} it can do full backup,
[09:12] {Threei} which is not just data
[09:12] {Threei} but also all programs aND THEIR CONFIGURATIONS
[09:12] {Les} following your breakdown you retain full confidence in acronis?
[09:12] {Threei} so when you reinstall everything
[09:13] {Threei} you don't lose configurations, logins etc
[09:13] {ese} GM
[09:13] {Threei} very much so
[09:13] {Threei} ese :)
[09:13] {Les} ok. thanks
[09:13] {Les} hi ese
[09:13] {Threei} 20 minutes, and everythin g is back
[09:13] {ese} hey les
[09:13] {Threei} just make sure to run it regularly
[09:13] {Threei} evertyhing missed between last backup and crash is lost
[09:14] {Threei} (CA) Canada Fin Min Flaherty: G7 meeting will discuss banking regulations; Canada has no plans to restrict executive pay
[09:14] {Threei} I think we are going to steal your banks and bankers
[09:14] {Threei} not sure it's a good thing for us though {G}
[09:15] {strider} I use acronis also, vad. I periodically do a clone of my hard drives.
[09:16] {larisa} gm all :)
[09:18] {Les} hi larisa
[09:19] {larisa} les :)
[09:20] {Threei} larisa :)
[09:20] {ese} mornin dino
[09:21] {ese} and laris
[09:21] {ese} vad you following anything in particular
[09:21] {larisa} ese, vad :)
[09:21] {Threei} don't see anything clear for the opening
[09:22] {dino} i think the theft of our bankers does not happen. i think obama is toast. he can say what he wants but the senate is no longer a one pony show
[09:23] {strider} rah-rah
[09:24] {dino} dks raises guidance substantially
[09:24] {Les} got any news on MBA mortgage applications vad? whatever that is
[09:24] {nemo} I work for them part-time...the way they screw there employees...they should do quite's pretty funny
[09:24] {nemo} their
[09:25] {Threei} *(US) MBA MORTGAGE APPLICATIONS W/E JAN 22ND: -10.9% V 9.1% PRIOR
[09:25] {Threei} - Refi's: +15.1v 10.7% prior
[09:25] {Threei} - Avg Rate on 30y mortgage: 5.02% v 5.00% prior
[09:25] {nemo} wow BA
[09:27] {Threei} CAAS Enters into JV with Beijing Auto (17.17, 0.00, 0.00%)
[09:28] {lasertrev} morning
[09:28] {nemo} lt :)
[09:28] {Threei} trev :)
[09:28] {nemo} might be weird day with all the news coming out
[09:28] {Threei} APWR A-Power Selected by China Machine-Building International Corporation in Vietnam Project (11.91, 0.00, 0.00%)
[09:30] {Threei} contract valued at $40M
[09:30] {Threei} shrug
[09:30] {Threei} TGAL Receives Silicon DRIE Tool Order From Precision Timing Device Manufacturer (1.24, +0.06, 5.08%)
[09:31] {Les} brkb starts ugly
[09:31] {nemo} not if you're short
[09:32] {Les} always the bright side to everything with you isn't there
[09:32] {Threei} CAAS, thin, but pulled back nicely
[09:32] {nemo} no
[09:32] {billyc} gm all Happy Wednesday
[09:33] {Threei} billyc :)
[09:33] {fernp} MCD 64 break could be interesting
06[09:33] * nemo slaps billyc around a bit with a large calendar
[09:33] {Les} billy
[09:36] {Threei} watching WFC for pullback and long entry
[09:36] {dino} dks sm l .50
[09:36] {Threei} under .20 most likley
[09:38] {ese} daaaa missed altr at .40 was hlping for a pullback\
[09:38] {ese} hoping
[09:38] {Threei} and watching ALTR to form a short setup
[09:40] {nemo} huge offer cat .55 will either pop or be the wall that sends it down
[09:40] {nemo} if I know
06[09:40] * nemo slaps nemo around a bit with a large dose of humility
[09:41] {strider} it won't take.
[09:41] {nemo} yeah
[09:41] {nemo} nice strider
[09:41] {Threei} Short Setup: ALTR .65 is stays under .75
[09:41] {Threei} WFC getting there
[09:42] {nemo} in altr
[09:43] {strider} long WFC ,10
[09:43] {strider} short .altr .64
[09:43] {Threei} 1:1 ALTR
[09:43] {fernp} ty
[09:43] {Les} ty out
[09:43] {Threei} Long Setup: WFC .10 break
[09:46] {Threei} ALTR 1:2
[09:46] {Threei} WFC 1:1
[09:46] {Les} ty out
[09:46] {fernp} ty
[09:47] {strider} out WFC +.10
[09:47] {Threei} (US) Preview: Dec New Home Sales due out at 10:00ET
[09:47] {Threei} **consensus expectation: 366Ke (+3.0%e m/m) v 355K prior
[09:49] {strider} cover ALTR +.10, +.18
[09:50] {Threei} we got ALTR top and WFC bottom... let's go home?
[09:51] {Les} I'll be cool if you can deliver two more like that
[09:51] {Threei} never enough, is it
[09:52] {strider} we're gonna have to put Vad on an hourly wage.....
[09:52] {fernp} or three
[09:52] {Threei} there... see?
[09:52] {Threei} lol
[09:52] {Threei} Long Setup: ALTR .65 break
[09:52] {Threei} just a scalp
[09:53] {Threei} invalidated
[09:53] {nemo} looks short actually
[09:53] {Threei} not unless market sells down badly
[09:54] {Threei} SIGA Biological and chemical defense related stocks trading higher ahead expected mention in the State of the Union tonight
[09:54] {Threei} - President Obama is expected to include a segment on beefing up US bioterror readiness in the State... (6.16, +0.06, 0.98%) more... (related PIP )
[09:54] {Threei} hmmm
[09:54] {Threei} ciuld be ICXT catalyst
[09:56] {Threei} I like ALTR for long more and more
[09:56] {Threei} not sure about exact trigger though
[09:59] {nemo} maybe bounces off .45
[09:59] {Threei} ok, let's try double bottom scenario
[09:59] {Threei} .52 long
[09:59] {nemo} scary...i'm thinking like you
[09:59] {Threei} if stays above ,45
[10:00] {Threei} *(US) DEC NEW HOME SALES: 342K V 366KE (-7.6% M/M)
[10:00] {Threei} - Prior revised from 355K to #K; prior rate revised to #% from -11.3% prior
[10:02] {Threei} no go
[10:02] {fernp} no go
[10:02] {Threei} told you let's go home after 2 wins
[10:02] {Threei} day with so many news coming
[10:05] {Threei} US) Fed's Greenlee: credit remains tight; Bank to face more losses
[10:05] {Threei} - Household access to bank credit lines remains difficult, same situation for small business
[10:06] {Threei} Congressional Budget Office: (CBO Elmendorf: US debt interest payments to exceed $700B by 2020
[10:06] {Threei} meaning, US will pay equivalent to whole stimulus package only to cover interest
[10:06] {Threei} 8Reminder: on jan 26th the CBO confirmed FY10 budget deficit at 1.3T
[10:08] {fernp} BAC .95 break, Vad?
[10:09] {Threei} not my favorite play at the moment
[10:09] {fernp} ok
[10:09] {Threei} narrow and slow, will requite too much time to develop - and I don't believe we have much time for activity today, with everything that is coming
[10:10] {fernp} ty
[10:10] {Les} GG offering a .90 b/d?
[10:11] {Les} AUY breakdownish too
[10:12] {Les} log b/d?
[10:12] {Threei} doesn't form clean resistance so far, GG
[10:12] {Les} and auy
[10:12] {Les} ?
[10:12] {Threei} this one looks better chart wise but too narrow
[10:12] {Les} ok
[10:13] {dino} ioc
[10:16] {Les} aa .25 b/d
[10:16] {Threei} nah
[10:17] {Les} its actually at support here
[10:17] {Threei} this is bounce time for AA rather
[10:18] {Les} my thinking is poor. I took a paltry 200 shares of AUY for +.05 knowing that it was likely to drop
[10:18] {ese} will catch you all later this morning....massive headache..gonna go back to bed for a bit
[10:18] {Les} ciao ese
[10:18] {Threei} take care ese
[10:18] {ese} tkslas
[10:18] {ese} les
[10:18] {fernp} bye ese
[10:18] {strider} take care, ese
[10:19] {strider} short HOG .98
[10:20] {strider} cover .96
[10:21] {dino} htch sm l .55
[10:22] {Les} If AA rolls over, can short it at lod? bounce/stop is acceptable
[10:23] {Threei} it looks bounce bound to me
[10:23] {dino} fdx sm l .75
[10:23] {Threei} double bottom is more likely than breakdown
[10:24] {Threei} I'd see long entry with stop under .15
[10:24] {Threei} seek
[10:24] {dino} itri sm l .46
[10:24] {Threei} target to sell half around .30
[10:25] {Threei} and the rest somewhere between .30 and .40
[10:25] {Les} ok
[10:28] {Threei} US) SEC' Schapiro: plans to review fundamental changes to money funds
[10:28] {Threei} - SEC staff is currently evaluationg floating net asset values, citing susceptibility to runs
[10:28] {Les} slw .20 break?
[10:28] {Threei} late
[10:28] {Les} y
[10:28] {strider} log AA .21
[10:29] {Threei} here come the bri... AA
[10:29] {Les} l aa.26
[10:30] {Threei} DOE CRUDE: -3.9M V +1.5ME; GASOLINE: +2M V +1ME; DISTILLATE: +400K V -1.8ME; CAPACITY UTILIZATION: 78.5% V 78.3%E
[10:33] {Threei} argh
[10:33] {Threei} was thinking about USO short
[10:33] {Threei} after the report
[10:34] {Threei} never saw any trigger, and thing just plummeted
[10:39] {Les} market respecting resistance
[10:39] {Les} can I fade AA if downtrend continues
[10:39] {Threei} your trigger would be .15, right?
[10:39] {Les} y
[10:40] {Threei} so you need some consolidation with better pronounced resistance
[10:40] {Threei} at this point, green spikes ruin it
[10:40] {Threei} some more flat top, to create a channel
[10:40] {Threei} and play will become valid
[10:40] {Les} k
[10:41] {strider} out AA -.02
[10:42] {Threei} AIG Moving higher as US Treasury Sec Geithner makes formal comments at House hearing on AIG bailout
[10:42] {ilana} almost the whole Utilities sector is weak and consolidating
[10:45] {Threei} AIG
[10:47] {Threei} some momo-like trading for a few moments...
[10:47] {Les} aa sufficiently consolidated now?
[10:48] {Threei} if stays under .20
[10:49] {Threei} Long Setup: AIG .65 half lot
[10:49] {Threei} if stays above .50
[10:50] {Threei} nope
[10:51] {Threei} rinse
[10:52] {ilana} market wants down (my guts)
[10:52] {Les} looks like aa was rinsing too
[10:54] {Les} wanna stick with aa vad
[10:54] {Les} only exited long position
[10:54] {Les} didn't short
[10:54] {Les} setup still valid despite this green spike?
[10:55] {Threei} things become quite random here
[10:55] {Les} crap. hate that
[10:56] {Threei} we have Timmy testimonial going, and we have FOMC today
[10:57] {Threei} do you r eally expect readable period to continue too long under these conditions?
[10:57] {Threei} we had 30 minute os readability
[10:58] {Threei} next step was to go sleep
[10:58] {Threei} or sit and observe, maybe wait for some news play
[10:58] {Threei} but not to tgry and insert ourselves in the middle of repositioning
[10:58] {Threei} where nop side has intentions to make any commitment
[10:59] {Threei} and all everyone thinks abiout is to diminish their exposure
[10:59] {fernp} WFC .40 break interesting
[11:01] {fernp} stop under .30
[11:13] {Les} MS .20 b/d if fas falls
[11:18] {Threei} Apple Inc ebooks to cost $12.99-14.99, TV episodes costing approx $1 - Boy Genius
[11:18] {Threei} - device rumored to be approx 9-10 inches
[11:18] {Threei} - Apple to take a 30% cut of all sales of books; with $9.99 for less popular book
[11:18] {Threei} this tablet thing seems to be the next big storm brewing
[11:19] {dino} no that was rimm w/storm
[11:19] {Threei} SEC approves new money market rules in a 4-1 vote
[11:19] {Threei} AIG...
[11:20] {Threei} where is magoo... this is his play
[11:21] {Threei} "this thing wants 26" (signed - magoo)
[11:22] {dino} med sm l .30
[11:22] {Les} took a small bite out of aig out +.07
[11:25] {Threei} Les... starting mastering momo trading?
[11:26] {Les} dino and mags have some good strategies under their belt. I wanna learn them
[11:26] {Les} plenty of time
[11:26] {Threei} they sure do
[11:27] {nemo} what was the crude report
[11:27] {larisa} I do not even see momo on AIG :) hopeless
[11:27] {Threei} [10:30] {Alert} Threei DOE CRUDE: -3.9M V +1.5ME; GASOLINE: +2M V +1ME; DISTILLATE: +400K V -1.8ME; CAPACITY UTILIZATION: 78.5% V 78.3%E
[11:27] {nemo} ty
[11:28] {ese} back and L cien .83
[11:28] {Threei} it's kind of sparks and fizzles larisa
[11:28] {Threei} comes and goes
[11:28] {Threei} my guess is, depends on twists and turns of Timmy testimony
[11:29] {larisa} at least it is not 20 cents range today
[11:31] {dino} nonsense, this kangaroo court stuff, just nonsense
[11:31] {dino} getting more and more like atlas shrugged every day
[11:31] {dino} who'sw next before senate, howard reardon
[11:32] {dino} hank i mean
[11:35] {Threei} truly amazing parallels eh dino?
[11:35] {Threei} nothing new under the moon
[11:49] {fernp} WFC 1:1
[11:49] {Threei} yup
[11:49] {Threei} took its sweet time
[11:49] {fernp} yeah
[11:50] {Threei} 33% Favor Second Term for Bernanke, 47% Say Geithner Should Go
[11:51] {Threei} 59% Say Cut Taxes to Create Jobs, 14% Expect Congress to Listen
[11:51] {nemo} wow...relative intelligence
[11:51] {nemo} good thing I was sitting down
[11:57] {fernp} FAZ if breaks 20...
[12:01] {dino} distraction day, itri was stopped -.39.
[12:04] {Les} aa returning to lod. will enter small shares and average in if lower prices follow.
[12:04] {nemo} why not figure out if it's a short instead
[12:04] {Les} it's being suppressed by 50 ma
[12:05] {Les} prefer long leash and small shares to begin with
[12:06] {fernp} FAZ
[12:07] {Les} small long fitb .07
[12:11] {nemo} cat should have problems around .50
[12:20] {larisa} and it did
[12:20] {nemo} well .44
[12:25] {ilana} when are all these news coming out?
[12:25] {nemo} 2:15
[12:25] {Threei} Prezident is going to address "Don't ask don't tell" in his Stae of the Union speech
[12:25] {Threei} well, good thing he has his priorities straight
[12:25] {Threei} ummm... pun is not intended
[12:26] {Les} ha. was almost going to ask
[12:26] {fernp} SANM, Vad?
[12:26] {fernp} out
[12:26] {ese} outta here or the day all......still long cien and still long a huge headache
[12:27] {fernp} take care ese, relax
[12:27] {Threei} a lot of air undr it fern
[12:27] {Threei} not something I'd want to try for a bounce just yet
[12:27] {fernp} shorted .94
[12:27] {fernp} covered .86
[12:28] {larisa} X stubbornly coming back to lows. Can it bounce off 200 MA ?
[12:29] {Threei} gj fern
[12:29] {fernp} ty
[12:29] {Threei} I don't like it for bounce larisa
[12:31] {Threei} while daily looks oversold, it doesn't have a feeling of imminent bounce to it
[12:31] {larisa} 65-46 in a week and 200 MA just under 46. But was rhetorical question. Why do not you like it?
[12:31] {larisa} oh ok :)
[12:31] {larisa} those "feelings" again :)
[12:31] {Threei} the way it punctures the lower BB again and again, it can easly drop into 45
[12:32] {Threei} and you said yourself, "stubbornly coming back to lows"
[12:32] {Threei} not exazctly the behavior of the stock ready to bounce
[12:33] {larisa} ty :)
[12:35] {Threei} Paulson testifies now
[12:35] {Threei} lol!
[12:36] {Threei} no one listens?
[12:36] {Threei} this is a beauty
[12:36] {Threei} Tim just said he was not involved in decision to rwescue AIG,
[12:36] {Threei} now Hank says:
[12:36] {Threei} I was not involved, this decision was my by NY Fed
[12:36] {Threei} which was headed by Tim at the time, lol
[12:39] {dino} and around, around we go
[12:39] {dino} med stopped, i suck today
[12:40] {Les} where's Grayson when you need him? I remember him grilling that SEC female good and proper
[12:41] {Les} what's your take on fitb as it approaches hod Vad?
[12:42] {Les} long .07 at 12:05
[12:42] {Threei} chart is right...
[12:42] {Threei} everything else is wrong
[12:43] {Les} :)
[12:44] {Les} will tighten up the stop
[12:44] {fernp} SANM was a nice, clean and easy breakdown. Why I covered too soon?... Who knows?
[12:44] {Threei} X
[12:44] {Threei} breajdown in the making
[12:47] {Threei} there... was I right or was I right
[12:47] {dino} out fdx .32 +.57
[12:48] {Threei} feel free to cover who took .50 break
[12:48] {Threei} 40 cents
[12:50] {Les} vol. activity getting heavy as AA returns to lod
[12:50] {Threei} larisa... where is my "you were right"??
[12:50] {larisa} on what?
[12:51] {Threei} sigh
[12:51] {Threei} never you mind
[12:51] {Les} short aa .13
[12:51] {larisa} if X : I was looking at daily and talking longer term :)
[12:51] {Threei} {--- is cutting his wrists with banana
[12:52] {Les} fitb stopped
[12:57] {Les} averaging in aa .08
[13:02] {Threei} RPRX Receives Guidance from FDA Regarding Continued Development of Androxal in Hypogonadal Men
[13:06] {larisa} this is depressing vad, type something over these Hypogonadal Men :)
[13:06] {Threei} X Fitch lowers rating one notch from BBB- to BB+ (now junk status)
[13:06] {Threei} there
[13:06] {Les} out aa .01 ave +.09
[13:06] {larisa} cool
[13:06] {Threei} downgrade reflects lack of visibility into the strength of the recovery and the timing of U.S. Steel's return to profitability. The Stable Rating Outlook reflects Fitch's view that U.S. Steel's liquidity is sufficient to support operations should the recovery remain weak for the next 12-18 months.
[13:07] {Threei} wow RPRX
[13:10] {Threei} sheesh
[13:10] {Threei} not even approval
[13:10] {Threei} just guidance
[13:11] {Threei} AAPL CEO JObs formally introduces 'iPad' (204.74, -1.20, -0.58%)
[13:11] {Les} women's hygiene products have gone electronic?
[13:12] {Threei} thanks for the visual
[13:12] {Les} they might want to rethink the name
[13:12] {Threei} features browsing better than that of laptop, with full web pages
[13:12] {Threei} - calls Apple a 'mobile device company'
[13:12] {Threei} X accelerates to the downside
[13:13] {Threei} that 45 might not be too far
[13:13] {Threei} larisa?
06[13:14] * Threei is drumming his fingers on the table
[13:14] {larisa} yes ?
[13:14] {Threei} never mind
[13:14] {Threei} where is that banana
[13:14] {Threei} wrist-cutting one
[13:17] {fernp} SCO .86
[13:17] {fernp} out
[13:17] {fernp} :-)
[13:18] {Threei} wow
[13:18] {Threei} nice one
[13:19] {fernp} lucky
[13:19] {fernp} dont see any news
[13:19] {Threei} neither do I
[13:19] {fernp} only a nice breakout
[13:19] {Threei} [12:31] {Threei} the way it punctures the lower BB again and again, it can easly drop into 45
[13:20] {Threei} said at 46.60.... 15 cents left to 45
[13:20] {strider} gotta run, folks. See you in the morning.
[13:20] {Threei} take care strider
[13:20] {strider} :)
[13:21] {ilana} i'll bite...
[13:21] {fernp} bye strider
[13:21] {ilana} Vad, you were right!!!
[13:21] {Threei} yessss!!!
[13:21] {strider} I took a part-time consulting job a couple of weeks ago. Taking up most of my offer I couldn't refuse.
[13:21] {Threei} thank you
[13:21] {strider} Vad was right..........again.
[13:27] {dino} cya strider
[13:29] {Threei} Preview: FOMC rate decision due out around 14:15ET
[13:29] {Threei} **In a week during which the Fed Chairman's reconfirmation has come into some question the FOMC is expected avoid rocking the boat. The main thrust of the FOMC statement is expected to remain intact, including the "extended period" language. The committee is also not expected to issue any new signals today, such as a bump in the discount rate which has been suggested as an early exit signal.
[13:29] {ilana} is it good?
[13:29] {Threei} neither
[13:30] {Threei} just makes it non-event
[13:30] {ilana} so the market should be relieved?
[13:31] {Threei} or simply left to its own devices, free to do whatever it intended to do without Fed's influence
[13:31] {ilana} good
[13:31] {Threei} and its latest inclination was down
[13:34] {Threei} X lookes to be reversing
[13:34] {nemo} rimm too
[13:34] {nemo} cat
[13:34] {Les} aa maybe too
[13:35] {larisa} played X bounce off the bottom :)
[13:35] {Threei} wtg
[13:37] {Threei} I must be missing something about this gas pedla thing in Toyotas
[13:37] {Threei} how could those guys die in this situationj?
[13:38] {Threei} what was the to prevent them from simply putting car in neutral gear?
[13:38] {Les} terror? fear?
[13:38] {nemo} anxiety when it accelerates
[13:38] {Threei} but it con tinued for quite a while
[13:38] {Threei} they phioned for help
[13:39] {Threei} and no one told them to do that
[13:39] {Les} the same majority psychology which makes them such easy targets in banking and finance?
[13:39] {Les} ring 911
[13:39] {Les} HELP ME!
[13:39] {Threei} that's what they did
[13:39] {Threei} described problem
[13:39] {dino} edu sm l .00
[13:40] {Les} and subsequently crashed
[13:40] {Threei} no one wasd capable of saying " switch to neutral"?
[13:40] {Les} or cut ignition
[13:41] {Threei} RPRX continues
[13:41] {Les} small long aa .06 13:37
[13:42] {larisa} was trading X looking at FCX chart, you should try it sometimes for fun :)
[13:42] {Les} I know that feeling
[13:42] {larisa} idiot
[13:42] {Threei} FCX leads?
[13:42] {larisa} no
[13:42] {larisa} I am idiot
[13:42] {larisa} mixed up charts
[13:42] {Threei} ummm
[13:43] {magoo} hello
[13:43] {Threei} you don't have level 2 window and cghart linked?
[13:43] {Threei} mags :)
[13:43] {Les} I have chart and trading window linked
[13:43] {Threei} missing klarge moves
[13:43] {Les} but sometimes chart doesn't change with trading window
[13:43] {Threei} in laser??
[13:43] {Les} IB
[13:43] {Threei} oh
[13:43] {larisa} i have everything color coded, trading off my alerts. was looking at chart for the top of the bounce :) wrong one too
[13:43] {Threei} never happened in laser
[13:44] {larisa} I do not use laser charts, so nothing is linked :)
[13:57] {Les} aig .20 b/d
[13:59] {dino} ioc
[14:05] {Les} out aig +.05
[14:07] {Les} out aa -.01
[14:09] {Les} aig getting funky. Geithner sneezed?
[14:09] {Threei} he is done long ago
[14:12] {Threei} 4 min till FOMX
[14:12] {Threei} 3
[14:13] {nemo} rimm broke resistance
[14:13] {nemo} broke high of the day
[14:15] {nemo} if there's no tightnening for the forseeable future language, today will likely continue rising
[14:16] {Les} everything is suddenly happen just prior to fomc time?
[14:16] {Les} not happen, happy
[14:16] {magoo} no change
[14:16] {Les} everything drops...
[14:16] {magoo} rates
[14:17] {nemo} no surprise there, now it's the language
[14:17] {nemo} rimm holding
[14:17] {magoo} usually English
[14:17] {nemo} nice one mags
[14:17] {Threei} - MBS to end in March as scheduled
[14:17] {Threei} - Inflation to be subdued for sometime
[14:17] {Threei} Vote was 9-1 to keep rates on hold (Hoenig dissented)
[14:17] {ilana} so why the drop?
[14:17] {Les} FITB below 12
[14:18] {magoo} down ..up...down
[14:18] {nemo} wow rimm
[14:18] {Threei} no worry, it will jump right back up
[14:19] {nemo} rimm momo
[14:19] {Les} traders are clearly troubled by ethical concerns of low rates; asset bubble inflation :O
[14:19] {Threei} uhhu
[14:19] {nemo} ba joke
[14:19] {Threei} that's exactly what bothers traders
[14:20] {Threei} keeps them turning andf tossing in the night
[14:20] {dino} ioc sm l .50 jumpy
[14:20] {Threei} Hoenig believed that economic and financial conditions had changed sufficiently that the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted.
[14:20] {Threei} - MBS to end in March as scheduled
[14:20] {Threei} - Inflation to be subdued for sometime; Bank lending continues to contract
[14:20] {Threei} - deterioration in the labor market is slowing
[14:21] {Threei} - In light of improved functioning of financial markets, the Federal Reserve will be closing the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, and the Term Securities Lending Facility on February 1, as previously announced. In addition, the temporary liquidity swap arrangements between the Federal Reserve and other central banks will expire on February 1
[14:21] {Threei} The Federal Reserve is in the process of winding down its Term Auction Facility: $50B in 28-day credit will be offered on February 8 and $25B in 28-day credit wil be offered at the final auction on March 8. The anticipated expiration dates for the Term Asset-Backed Securities Loan Facility remain set at June 30 for loans backed by new-issue commercial mortgage-backed securities and March 31 for loans backed by all other types of collateral.
[14:24] {Threei} Apple Inc Basic iPad tablet computer to sell for $499 (lower than consensus); to offer six different models
[14:24] {Threei} - With WiFi: $499 16GB, $599 32GB, $699 64GB
[14:24] {Threei} - With WiFi & 3G connectivity: $629 16 GB, $729 32GB, $829 64GB
[14:33] {Les} aa approaching lod
[14:33] {fernp} FITB on highs
[14:34] {Les} I've been waiting for it as a short fern. FITB just doesn't seem to want to break out
[14:35] {Les} could be wrong of course
[14:36] {Les} I'm wrong
[14:37] {larisa} psihotic market
[14:37] {Threei} psychotic too?
[14:38] {larisa} no, what I said :)
[14:39] {fernp} 1:1 FITB
[14:39] {Les} just what I was about to say. you take it?
[14:40] {fernp} yes 12.11
[14:40] {fernp} stop under 12
[14:40] {Les} small c&h breakout pattern on the q's
[14:40] {fernp} and QID short .94
[14:40] {Les} I was too late .13 entry, wasn't chasing
[14:40] {magoo} jesus, AAPL back near high after 5 point fall
[14:40] {fernp} stop above 20.05
[14:41] {fernp} out 1:1
[14:41] {Les} nice
[14:41] {dino} out ioc .81, +1.31
[14:41] {larisa} gj
[14:41] {Les} that's lucky of you
[14:41] {ilana} gj, dino
[14:42] {fernp} gj dino
[14:42] {Les} :)
[14:42] {dino} thx got lucky on fed could've gone either way
[14:42] {dino} question is edu?
[14:43] {nemo} gld making a comeback
[14:43] {Les} funny. the exuberance took some time to make its way to the market. 15 odd minutes
[14:43] {Threei} FOMC days can be funny eh
[14:43] {ilana} funny as hell
[14:44] {Les} why I didn't take FITB. thought it must be trap. too long a time
[14:44] {Les} whatever. live and learn
[14:46] {fernp} Another day in Mars. green day here. let's see tomorrow :-)
[14:46] {Threei} take care fern, good job
[14:46] {fernp} Good evening everybody. see u all tomorrow
[14:46] {Les} ciao
[14:46] {fernp} ty
[14:46] {ilana} bye fern
[14:51] {dino} out edu ave .06, +1.06
[14:51] {Les} ouch
[14:52] {Les} beers are on you today?
[14:52] {Threei} killin'em today eh dino
[14:52] {dino} well after 1 for 4 in am, something had to give
[14:53] {magoo} [14:52] {Les} beers are on you today?
[14:53] {magoo} i can only hope
[14:54] {Les} :)
[14:54] {Les} you play on a day to day basis Mags?
[14:55] {Les} or only when momo is around?
[14:56] {Les} or it might be just me, having forgotten your presence after two weeks of absence
[14:56] {Les} I'll shut up now
[14:57] {dino} lol
[14:59] {dino} back in 10
[15:05] {Threei} what's with ARMH?
[15:05] {Threei} I see no news
[15:07] {Threei} market jumps up and down as antelope with turpendtine suppository up its butt
[15:07] {nemo} now there's an analogy
[15:07] {nemo} 60 grit turpentine suppository
[15:08] {Les} and you complain to me about bad visuals?
[15:08] {Threei} not to be outdone, you know
[15:08] {nemo} :)
[15:09] {Les} still, its a funny image running through my head
[15:10] {dino} if ioc gets to 68 again....
[15:11] {dino} typical fed day down/up/down
[15:12] {dino} hate to see dks lower guidance
[15:12] {nemo} here's a bad one...
[15:12] {nemo} so, dino, it's kinda' like sex
[15:12] {magoo} ROFLOL
[15:12] {Threei} janitor
[15:13] {nemo} !!!
[15:13] {dino} lol, what movie was this; no time for in out luv just came to read the meter
[15:13] {nemo} don't know
[15:13] {dino} clockwork orange
[15:13] {nemo} How about this one, "Governor Lepetomaine, think of your secretary!"
[15:13] {Threei} wow
[15:13] {Threei} oldie
[15:14] {nemo} yeah...when that came out it was rated X
[15:14] {nemo} they'd show it on tv now
[15:15] {dino} singin' in the rain
[15:15] {nemo} Ludwig Van
[15:16] {dino} ioc getting close to 68
[15:18] {dino} i may be crazy, but gut says snda fills gap from nov early morning tomorrow. 45.35ish
[15:18] {dino} will be lookinng at that
[15:19] {dino} watching for gs at 142ish gap too
[15:22] {nemo} need one for b/e today
[15:25] {Les} wfc has had a great run today and might be ready for a sell off
[15:26] {nemo} I think a run up would be the most unexepected for the last half hour
[15:26] {Les} but everything is topsy turvy and I have no setups to work with
[15:27] {nemo} the indices haven't really broken the median trend line up that started around 1:15
[15:32] {Threei} wow
[15:32] {nemo} what?
[15:32] {Threei} market...
[15:32] {Threei} Market Internals update at 3:30pmET
[15:32] {Threei} - NYSE volume 980M shares, about 18% above its three-month average; decliners lead advancers by 1.1:1.
[15:32] {Threei} - NASDAQ volume 2.05B shares, about 19% above its three-month average; advancers lead decliners by 1.3:1.
[15:32] {Threei} - VIX index -2.5% to just under 24.00
[15:33] {Les} this is one of those "sell into rally" moments the talking heads recommend?
[15:33] {nemo} maybe, maybe not
[15:34] {nemo} where else you gonna' put your money right now?
[15:34] {Les} here? a second apartment...
[15:34] {dino} could be the 4-6% drop and run again that has happened since mARCH
[15:35] {nemo} yeah, that's what I'm thinking place else to put your money...real estate, bonds, I don't think so
[15:35] {dino} well, everybody is saying down now, especially cramer. he always has you buying tops selling bottoms
[15:36] {nemo} gotta' put a stake through his heart
[15:36] {dino} i'm thinking, what can obamination do w/o the senate in his back pocket. plus, even when he had them, nothing got done
[15:37] {nemo} markets love gridlock
[15:37] {dino} me too
[15:42] {Threei} CNN
[15:42] {dino} gotta hop, son's b-ball game
[15:42] {Threei} put it in neutral or cut off the engine
[15:42] {nemo} cya
[15:42] {dino} thx all, good times
[15:42] {Threei} finally
[15:42] {Threei} take care dino
[15:42] {Les} ciao
[15:42] {dino} :)
[15:43] {billyc} gn all i had a good day thanks for the calls
[15:44] {Les} bye billy
[15:44] {Threei} great, people say thanks and disappear before I can say welcome
[15:44] {Threei} now they'll think I am impolite
[15:44] {Threei} wait... I am impolite
[15:44] {nemo} no...they know
[15:44] {Threei} right
[15:44] {Threei} no problem then
[15:44] {nemo} nah
[15:44] {ilana} they'll think that anyway
[15:45] {Threei} yeah
[15:45] {Threei} what is it I got worried about all of a sudden
[15:45] {Threei} shrug
[15:46] {ilana} but remember, you were right with X
[15:46] {Threei} yeah, and I had to beg for someone to recognize it
[15:47] {nemo} wow cat
[15:47] {Threei} such a fate of us, unsung geniuses
[15:47] {Threei} we get acknowledged after death only
[15:47] {ilana} and you got much earlier
[15:48] {Threei} not really... since I had to beg for it, and you just had a nercy on me
[15:53] {Threei} daily chart looks like dklwnside contnuation is coming
[15:53] {Threei} but today is not your usual day
[15:54] {Threei} will see how tomorrow goes
[15:54] {ilana} have a good evening
[15:54] {Threei} you too
[15:55] {larisa} bye all :)
[15:55] {Threei} see you tomorrow :)
[15:55] {nemo} c u 2morow
[15:55] {nemo} I'm off
[15:55] {Les} yeh thanks. taking a last couple of bucks from FITB short. c u tomorrow
[15:56] {Threei} take care guys, have a good evening