Wednesday, February 3, 2010

Feb 03 2010

Very strong day with a few trades here and there - and then a stellar one, long on TM with 10 cents risk and 60 cents realized win.

Session Time: Wed Feb 03 00:00:00 2010

[07:52] {Threei} 6:51:18 AM
[07:52] {Threei} Toyota Motor Corp Follow up: Japanese gov has ordered investigation into possible defects in braking system on the Prius - NYT
[07:52] {Threei} - Complaints have stated that the breaking system of 2009/10 model has momentarily failed on wet surfaces and at low speeds
[07:53] {Threei} reminds me an old Russian saying: disaster doesn't come alone
[07:53] {nemo} when sharks smell blood
[07:56] {Threei} SOLR went above 7 after hours, before retreating to 6.50
[07:57] {Threei} 4:15:21 PM
[07:57] {Threei} GT Solar International, Inc. Reports Q3 $0.25 v $0.15e, R $174M v $145Me; Raises FY10 Rev to upper range of prior guidance
[07:57] {Threei} - Guides FY10 EPS $0.52-0.60 v $0.51e, R $500-550 v $587Me (Guided FY10 $0.45-0.60, R$450-550M on 11/09)
[08:08] {nemo} y chart display's off again...quotes say things are lower, charts show them higher
[08:09] {Threei} which stock
[08:09] {nemo} spy qs fcx
[08:10] {Threei} all three are fine here...
[08:10] {nemo} have to have my meds adjusted I guess
[08:13] {strider} last trade FCX 72.07
[08:13] {Threei} 72.1 now
[08:13] {Threei} .15
[08:13] {nemo} quotes are fine, charts not
[08:13] {Threei} strange...
[08:13] {Threei} chart follows exactly
[08:14] {strider} maybe chart data takes a diff. route
[08:14] {nemo} not the spy says down .38 from yesterday, charts show gap from yesterday to today of +.80
[08:15] {strider} I've seen that before as well.
[08:15] {Threei} *(US) ADP JAN EMPLOYMENT CHANGE: -22K V -30KE (best reading since Mar 2008)
[08:15] {Threei} - Prior revised higher from -84K to K
[08:15] {Threei} - No revisions (related EUR/USD SPY TLT USO IYM GLD USD/JPY RTH )
[08:15] {nemo} They lost yesterday's data
[08:15] {strider} nobody's perfect.
[08:15] {Threei} ahhh
[08:15] {Threei} wait
06[08:15] * nemo slaps strider around a bit with a large volume of cliches
[08:16] {Threei} your chart shows right price, it's just the change from yesterday that is wrong?
[08:16] {nemo} correct
[08:16] {Threei} ok
[08:16] {nemo} lost yesterday's data
[08:16] {Threei} that is rather normal
[08:16] {nemo} well, I guess, if you define incest as normal
[08:16] {nemo} oh, sorry strider
[08:16] {Threei} it will restore itself, yesterday's c lose price gets updated at some other point in time
[08:17] {Threei} I thought your chart shows wrong price
[08:17] {nemo} no
[08:19] {Threei} OK, FCX
[08:20] {Threei} close is 72.51, right?
[08:20] {nemo} y
[08:20] {Threei} change -.31
[08:20] {nemo} y
[08:21] {Threei} SPY is correct too
[08:21] {nemo} quotes, yes
[08:21] {Threei} chart shows -.19 change
[08:21] {Threei} close 110.38
[08:21] {nemo} for the number in the top left, not the chart
[08:22] {Threei} yes
[08:22] {Threei} -.22 now
[08:22] {nemo} it's reporting the number correctly
[08:22] {Threei} trades at 110.18, change -.20
[08:22] {nemo} just don't have accurate visual representation to gauge support and resistance
[08:22] {Threei} everything is correct
[08:22] {Threei} chart and change
[08:23] {Threei} I don't see the divergence
[08:23] {nemo} I'll send it to you
[08:23] {Threei} please
[08:24] {nemo} no I won't can't cut it out without rebooting frickin' computer
[08:24] {Threei} huh?
[08:25] {nemo} the snipping tool on my computer won't work, so I can't cut it out without rebooting
[08:25] {Threei} oh boy
[08:25] {nemo} frickin vista
[08:25] {Threei} you may have more problems that your thought {G}
[08:25] {nemo} goes without saying
06[08:31] * strider slaps nemo around a bit with a large copy of VISTA is for DUMMIES.
[08:32] {nemo} just sent it
[08:40] {ese} good morning if anyones hangin
[08:40] {Threei} ese :Z)
[08:41] {nemo} dude
[08:41] {ese} zzzzzzzzzzz egzaktily
[08:41] {ese} dude
[08:41] {Threei} SOLR's trying
[08:41] {ese} yes...i'm still long .93
[08:41] {ese} sorry long jaso
[08:41] {Threei} 5.93?
[08:42] {Threei} oh
[08:42] {ese} 4.93
[08:45] {ese} am looking to go long cien after the opening dust's up another .14 now
[08:46] {ese} hopefully there will be an entry opportunity
[08:57] {Les} afternoon y'all
[08:57] {Threei} les :)
[08:57] {Les} MYGN smoking something cause its high as akite
[08:58] {dino} gm all
[08:58] {Threei} dino :)
[08:58] {nemo} dino
[08:58] {dino} :-)
[08:58] {Threei} Yesterday 16:06 MYGN Reports Q2 $0.36 v $0.34e, R$93M v $91Me
[08:58] {Threei} - Had $457.6M in cash, cash equivalents and marketable investment securities at December 31, 2009
[08:59] {nemo} dcc les
[08:59] {dino} fcx upgraded
[09:00] {nemo} makes sense...drops a buck
[09:09] {Threei} looking at AIG daily
[09:10] {dino} so far, amsc, netl, ctrp, vrsn, rl, met
[09:10] {Threei} no clean indication yet but I'd think it's getting reasdy for a sizeable bounce
[09:11] {dino} met in talks to buy asian aig life bus.
[09:17] {larisa} gm :)
[09:17] {Threei} larisa :)
[09:17] {larisa} vad :)
[09:18] {nemo} lari :)
[09:18] {larisa} nemo :)
[09:18] {i2romantis} gm all :)
[09:18] {Threei} i2r :)
[09:19] {strider} morning everyone.
[09:19] {Threei} strider :)
[09:20] {Les} Nemo, follow up dcc
[09:20] {fernp} Good morning everybody
[09:21] {Threei} fern :)
[09:21] {Les} fern, strider, i2 and anyone else not yet addressed
[09:22] {Les} oops how could i forget larisa. gm
[09:23] {larisa} les :)
[09:24] {Les} I see bsi87 has caught AIG as potential bounce material as well. buy limit 23.70. let's have a look...
[09:26] {Les} what about amzn vad? this double attempt at 119 resistance meaningful?
[09:27] {Threei} it's way too far from there anyway
[09:27] {Threei} what practical use this numer can have when AMZN is at 117?
[09:28] {larisa} it can be at 119 or 114 in 2 min :)
[09:28] {strider} beat me to it, larisa.
[09:28] {Threei} then none of it matters anyway
[09:28] {strider} nihilist.
[09:28] {Les} will watch it nonetheless
[09:28] {Threei} if it moves weith such agility, it will cut through any of those numbers before you can blink
[09:29] {strider} that's true.
[09:30] {Threei} Short Setup: TM .50 break half lot
[09:30] {lasertrev} gm
[09:31] {nemo} too fast
[09:31] {dino} fwiw amzn huge gap 105 and down area
[09:31] {Threei} let's wsit out morning volatility before trying it again
[09:32] {Threei} this one reached 1:1 in a blink of eye
[09:33] {fernp} LVS, Vad?
[09:34] {ese} netl off the map dino
[09:34] {Threei} .60 break short, fern
[09:35] {Threei} Short Setup: TM .40 break half lot
[09:35] {Threei} grrr
[09:35] {Threei} too fast again
[09:36] {billyc} gm all happy Wednesday
[09:36] {Threei} billy :)
[09:36] {Les} hey billy
[09:37] {dino} jst
[09:38] {nemo} wow. nflx, .12 jump between 9:35 and :36
[09:38] {Threei} Long Setup: RINO .40 break if holding above .25
[09:40] {Threei} Long Setup: AIG .90 break if holding above .80
[09:40] {dino} amsc sm l .70
[09:40] {Threei} US) Preview: Jan ISM Non-Manufacturing Composite due out at 10:00ET
[09:40] {Threei} **consensus expectation: 51.0e v 50.1 prior (estimates range from 49 to 53).
[09:41] {Threei} not a scalp for me AIG
[09:42] {Threei} 1:1
[09:43] {dino} rino sm l .50
[09:43] {Threei} second half is stopped b/e
[09:44] {nemo} rimm up 1.23
[09:44] {nemo} mos up 1.44
[09:45] {Threei} Long Setup: BEAV .20 break half lot
[09:46] {strider} stop .10 or .00?
[09:46] {Threei} RINO 1:1
[09:47] {Threei} if loses .10 I'd rather look for entry lower
[09:47] {dino} amsc stopped -.35
[09:47] {Threei} so, for .20 br4eak entry let's consider .10 invalidation or stop
[09:47] {strider} thks
[09:47] {Threei} AMSC is from some other planet dino
[09:48] {Threei} let's just short it
[09:49] {dino} go figure, all seems good, but.....
[09:49] {dino} oh well, who is john galt
[09:49] {Threei} strange thing is, there was no even runup before earnings
[09:49] {Threei} just some holder wants out, for what may not even be trasding/market/company related reasons
[09:50] {Threei} CTXS Hearing renewed takeover chatter circulating
[09:50] {Threei} - Dell rumored as a potential acquirer
[09:50] {dino} i'll revisit it later
[09:51] {nemo} 33.40 area
[09:53] {Threei} Short Setup: RIMM .70 break
[09:54] {Threei} .80 invalidation
[09:55] {fernp} IACI, Vad?
[09:56] {dino} risky sm l jst .80 ave
[09:56] {ese} out jaso from yesterday .04 +.11
[09:56] {Threei} I really don't want to chase this one this high fern
[09:56] {fernp} TY
[09:56] {Threei} it can be very treacherous
[09:59] {Threei} RIMM is valid again
[10:01] {Threei} holding a bit too well while market sells
[10:02] {Threei} tioghtening to .76
[10:03] {dino} amsc .01 sm l
[10:04] {Threei} fern, have a brief look at IACI
[10:04] {dino} stop is .69
[10:05] {Threei} just be careful not to puke
[10:05] {fernp} VZ short, Vad?
[10:06] {Threei} not delighted
[10:06] {fernp} I saw IACI, I skipped
[10:06] {fernp} ty
[10:07] {ese} L atvi .399
[10:07] {Threei} out RIMM
[10:08] {Threei} TM... strong feeling this one is preparing to cascade
[10:08] {dino} prius bad news today
[10:08] {Threei} entry is a toughie on it
[10:08] {Threei} yeah
[10:09] {Threei} Prius, Japan starts investigation, and US govt hints the problem was known for longer than Toyota pretends it to be
[10:09] {Threei} and 75 is importasnt support to break
[10:10] {strider} aggressive entry?
[10:10] {Threei} .20 is resistance to place stop
[10:10] {Threei} entry is fuzzy
[10:10] {Threei} 75 break is obvious one
[10:11] {nemo} bew by
[10:11] {nemo} blew by
[10:12] {Threei} 1:1
[10:12] {Threei} and it's far from over
[10:13] {larisa} fuzzy 1:1 :)
[10:13] {nemo} no entry though
[10:13] {Threei} snyone took itz?
[10:13] {fernp} VZ 1:1
[10:13] {nemo} jumped my order
[10:13] {Threei} don't be in a rush to cover, rather partial
[10:14] {Threei} yeash, that was rather case for aggressive entry
[10:14] {Threei} thst obvious one is a kind of z"either thisd support holds or if gives up - no way you get your entry"
[10:20] {Threei} IOC Weakness attributed to more speculation of potential fraud at the company
[10:22] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:22] {Threei} **consensus expectations:
[10:22] {Threei} Crude: Flat (0e)
[10:22] {Threei} Gasoline: +1.2Me
[10:22] {Threei} Distillate: -1Me
[10:25] {Les} out +.19 BEAV, out slightly negative AMSC
[10:25] {Les} big bounce in AMSC stopped me out of my short
[10:27] {Threei} I hate to do it but...
[10:27] {Threei} Long Setup: TM .85 break half lot
[10:28] {Threei} if stays above .70
[10:29] {nemo} wow
[10:29] {nemo} holy manure
[10:29] {Threei} some new news somewhere I guess
[10:30] {Threei} DOE CRUDE: 2.3 v Oe (FLAT EST.); GASOLINE: v +1.2Me; DISTILLATE: -950K v -1Me
[10:30] {Threei} cascading it is
[10:30] {nemo} that should drive the price of oil up
[10:31] {nemo} rimm
[10:32] {Threei} Market Internals update at 10:30amET
[10:32] {Threei} - NYSE volume 225M shares, about 10% below its three-month average; decliners lead advancers by 2.7:1.
[10:32] {Threei} - NASDAQ volume 545M shares, about 9% above its three-month average; decliners lead advancers by 1.1:1.
[10:32] {Threei} - VIX index -0.5% to just under 21.50
[10:33] {Threei} TM is in serious troubles
[10:33] {strider} 3 day old CELM showing a little life.
[10:33] {Threei} wow
[10:33] {Threei} anyone sees news?
[10:34] {nemo} no
[10:34] {Threei} US President Obama: Should ensure that currency policies do not put the US at a disadvantage
[10:34] {Threei} ***Reminder: G7 summit to take place in canada later this week
[10:34] {nemo} oh shit
[10:34] {Threei} ahha
[10:34] {Threei} TM US Transportation Sec: Owners should stop driving recalled models immediately
[10:34] {Threei} here it is
[10:34] {Threei} jeez
[10:35] {Threei} they decided to finish Toyota off
[10:35] {larisa} what a propaganda, in best tradition of soviet union :)
[10:35] {Les} lol
[10:35] {fernp} SDS
[10:35] {Les} put the stake into their heart
[10:35] {Threei} absolutely
[10:36] {Threei} they want to milk this didsaster as much as possible
[10:36] {ese} out atvi .43 +.04
[10:36] {dino} amsc to flat
[10:36] {strider} still lots of resis in 73 area.
[10:36] {ese} it wasna...goin nosewhere
[10:37] {Threei} millions of Toyotas on the road, there were what, 10 or 15 cases?
[10:37] {Threei} everyone should just stop dfriving them?
[10:37] {Les} oh I'm having fun with TM now!
[10:38] {Les} if this is momo I love it!
[10:38] {Threei} it sure is
[10:38] {Threei} you in short?
[10:38] {Threei} it had all the makings of disastrous drop from the early morning
[10:38] {Les} was until you called long :)
[10:38] {dino} out jst .54
[10:38] {Les} then I went short again
[10:38] {fernp} out SDS :-)
[10:38] {dino} -.26
[10:38] {Threei} it was ready for bounce
[10:38] {Threei} news is news
[10:39] {dino} out amsc flat
[10:39] {Les} yeh just taking the mickey out of you
[10:39] {dino} will sit for a few minutes
[10:39] {Les} was ready to agree with you
[10:39] {Les} it wasn't looking short
[10:39] {Threei} find someone else to take mickey out of, will ya {G}
[10:39] {Les} until some new news came along
[10:40] {Les} :D forgive me master
[10:40] {Threei} that you don't want
[10:40] {dino} fsys gap fill couple days ago
[10:40] {Threei} I usdually forgive those I kill, right after killing them
[10:40] {Les} lol
[10:40] {Threei} makes me feel all merciful
[10:41] {dino} i eat what i kill
[10:41] {Les} ok. TM putting the heat on the market?
[10:41] {dino} makes me feel full
[10:41] {strider} just the blood.
[10:41] {ese} very challenging markt inviroment these days....
[10:41] {Threei} feels like market drops on its own
[10:41] {nemo} .16 pivot support for tm
[10:41] {dino} sm l fsys .70
[10:44] {Threei} next leg down is coming it seems
[10:45] {strider} inverse c&h IOC
[10:46] {Threei} good eye
[10:46] {Threei} volstile as hell, hard to get entry, but formation is perfect
[10:46] {strider} +.40 IOC
[10:46] {dino} same rumors couple days ago, ioc
[10:46] {Threei} wtg
[10:46] {Threei} got TM short this time, .75
[10:47] {dino} gap 59.24
[10:47] {dino} and 62.50
[10:47] {Les} i'm finished for the day
[10:47] {dino} gj strider\
[10:47] {Les} unless this market shows some good downtrend
[10:47] {dino} les, good day already?
[10:47] {strider} thanks, dino.
[10:48] {Les} taking my cut out of TM on a few scalps now dino
[10:48] {dino} gj
[10:48] {Les} ty, that's enough
[10:48] {Threei} IMO, it's not done selling
[10:48] {dino} i am just a late starter
[10:48] {Threei} late bloomer dino?
[10:49] {dino} tex sm l .92
[10:49] {nemo} where to get in though
[10:49] {Threei} this is major problem
[10:49] {strider} market reversal
[10:49] {Threei} the only thing you csan dio is this:
[10:49] {Les} I'll take more if you can see setup vad
[10:49] {nemo} hop and hope
[10:49] {dino} amsc last try sm l .89
[10:49] {Threei} wastch chart as a whole, define general entry zxones on bounces,
[10:50] {Threei} keep size small and be ready to multiple attempots
[10:50] {dino} neu sm l .40, wide
[10:50] {dino} ok market giddy-up
[10:51] {nemo} watch for alot of white T&S too
[10:52] {Les} what's the white?
[10:52] {Les} white numbers
[10:52] {dino} gray here
[10:52] {nemo} market orders people just wanting to sell
[10:53] {nemo} often indicates change in direction
[10:53] {Threei} TM Goldman Sachs downgrades rating to Neutral from Buy (timing uncertain)
[10:54] {strider} TM downgrade :)
[10:54] {strider} GS
[10:54] {dino} real paid for research
[10:54] {Les} earning his $100 million
[10:54] {larisa} missed nice RIMM 67 break watching TM
[10:54] {nemo} so, while I wasn't looking at rimm...look at the volume increse into 10:48 and break
[10:55] {larisa} :)
[10:55] {nemo} that's funny,, I saw .80...see what happens when you watch a bad car wreck...pun intended
[10:55] {dino} lol les, -20 they go to neutral
[10:56] {strider} that means if you put your Toyota in neutral, nothing bad will happen.
[10:56] {larisa} my signal was .80 break yes on RIMM, but 67 was too much of res to take it for me
[10:56] {nemo} so, you scalp for .20...women
[10:57] {larisa} I am burger flipper, will take anything :)
[10:57] {Threei} that was good setup, Larisa...
[10:57] {nemo} tm looking long on volume ac tually
[11:00] {nemo} stop was too big
[11:00] {Threei} RIMM pulling back
[11:00] {Threei} let's watch it for entry off support
[11:00] {nemo} .20?
[11:01] {Threei} feels to me like rather sharp dive undeer it, wwith entry closre to .10
[11:01] {nemo} yeah, pivot support at .09
[11:04] {nemo} rimm might be looking short here actually
[11:04] {dino} jst rinsed
[11:04] {dino} thing is strong
[11:09] {ese} l stec .53
[11:12] {fernp} YHOO on highs
[11:13] {ese} thats what you usually say when your high.....yhoo
06[11:13] * nemo slaps fernp around a bit with a large sense of humor
[11:13] {fernp} humor? what is that?
[11:13] {nemo} that's my point
[11:14] {ese} tks dude
[11:14] {nemo} oh...sorry fern...shot the wrong guy
[11:15] {ese} na na's time you taught them rookie new to the board punks a humor lesson or two
[11:15] {nemo} I'm not sure what I could teach about humor is a positive
[11:16] {strider} You talking about humor-Les?
[11:16] {ese} well........then we have a problem
[11:16] {ese} lol
[11:16] {dino} neu out .28, +.88
[11:16] {ese} egzactilly
[11:17] {nemo} joyg at bottom of cup if it moves to .60 on volume
[11:18] {nemo} decided to be a short instead
[11:19] {fernp} DIS breaking .50
[11:21] {nemo} cat testing hod
[11:24] {Threei} VRNM Ticking higher; hearing Lazard commenting on growth measures for the biodiesel industry in US Administration announcement later today (related PEIX CZZ ADM )
[11:26] {fernp} T breakdown, Vad?
[11:31] {fernp} .
[11:34] {Threei} hmm
[11:34] {fernp} no problem :-)
[11:34] {Threei} too narrow, I think
[11:35] {Les} s zion .98
[11:36] {Les} stopped
[11:40] {Les} vad, you got a working theory on market direction shaping up?
[11:40] {ese} dino....wheres mags these days
[11:42] {fernp} faz
[11:46] {dino} he's here, tenant issues, plus he's been helping my sister open up her pub.
[11:46] {nemo} that's dangerous
[11:47] {dino} yeah, i think he secretly wishes it was his
06[11:47] * nemo pictures magoo intravenously attached to a keg
[11:47] {Les} for the money, or the contents of the building?
[11:48] {dino} ego
[11:48] {ese} right on.....good luck to your sister
[11:49] {Les} partial out ZION +.10, .89
[11:49] {dino} thx
[11:49] {dino} gj
[11:49] {Les} zion lod
[11:49] {nemo} woman with a pub
[11:49] {nemo} that's almost as good as a trust fund
[11:50] {strider} going for extra brownie points with the women in the room, nemo?
[11:50] {fernp} 1:1 T
[11:50] {nemo} no...I've got too bad a case of PTSS from relationships
[11:50] {Threei} Les... down, IMO
[11:50] {Les} sounds good to me
[11:51] {dino} it's the Mc in us
[11:51] {nemo} rimm looks like it might test support
[11:51] {nemo} Reminds me of a joke
[11:52] {nemo} Patrick Flannery died at his job at the brewery
[11:52] {nemo} Seamus and the boys went home to tell his wife
[11:52] {nemo} Mrs. Flannery, sorry to tell you that Patrick died today
[11:52] {nemo} How'd he die? she asked.
[11:53] {nemo} Well, he fell into the Brewery vat and drowned.
[11:53] {nemo} Did he suffer?
[11:53] {nemo} I don't think so, he came up three times for air
[11:53] {dino} lol
[11:53] {Les} lol
[11:53] {patience} not bad nemo
[11:54] {Threei} lol
[11:54] {nemo} ty
[11:54] {nemo} I've got another, but it's not quite so tasteful
[11:55] {nemo} Seamus and Patrick were shoeing a horse at the livery
[11:55] {nemo} Seamus noticed the horses eyes were crossed
[11:56] {nemo} Says to Patrick, (Irish accent) Will you look here, the horse's eyes are crossed!
[11:56] {nemo} Seamus says, I'll show you how to fix it
[11:56] {nemo} So...he takes a long pipe, puts some grease on it, and inserts it rather far in the
[11:57] {nemo} Then, he blows really hard through one end
[11:57] {nemo} Says to Seamus, how's it look?
[11:57] {nemo} Seamus says, still crossed.
[11:57] {nemo} Patrick blows again
[11:57] {nemo} Anything?
[11:57] {nemo} Nah
[11:58] {nemo} So Seamus says, "Why don't you let me give it a try?"
[11:58] {nemo} Patrick says, "O.K."
[11:58] {nemo} So, seamus goes to the back end, pulls the pipe out, turns it around, and reinserts it
[11:59] {nemo} Patrick looks, on in disbelief and asks, "Seamus, why did you do that?!"
[11:59] {Les} TM
[11:59] {nemo} Seamus: "Sure and Begorrah you didn't think I was going to put my mout where yours was?"
[11:59] {nemo} mouth
[11:59] {Les} lol
[12:00] {patience} ty nemo, i'll think of you when i'm out at the stables this afternoon :)
[12:00] {Raven} sigh
[12:00] {Les} 2nd half out ZION +.19
[12:00] {nemo} What's funnier, is I first heard the joke from a US. Diplomat
[12:02] {nemo} Guess you liked it, huh Raven?
[12:02] {Raven} it was nice
[12:03] {nemo} Yes, I've noticed the contraindication of your level of admonition being inversely correlated to your actual enjoyment
[12:04] {Raven} astute observation
[12:04] {nemo} ravings of a lunatic
[12:04] {Raven} who you calling a lunatic?
[12:04] {Threei} TM looks like finally getting ready for sizeable bounce
[12:04] {nemo} who was raving
[12:05] {Raven} right
[12:05] {nemo} ooohh...touuuuchy today
[12:05] {Raven} always
[12:07] {Raven} btw .... cosmo is alive and well
[12:07] {Les} thanks Vad +.25 TM
[12:07] {Threei} gj
[12:07] {Raven} he's on sabbatical from the market
[12:08] {Threei} took 73 break... too fast to alert...
[12:09] {Threei} Toyota Motor Corp US Transportation Sec Lahood issues clarification, feels recalled vehicles should be driven to a Toyota dealer as they may have a fix for the issue
[12:09] {Threei} - Note: Earlier it was reported that the Transportation Sec called for drivers to stop driving the recalled vehicles
[12:09] {Threei} imbecile
[12:09] {Threei} "feels recalled vehicles should be driven to a Toyota dealer"
[12:09] {nemo} that's a nice way to put what I was thinking
[12:09] {Les} took toyota long enough to respond
[12:09] {Threei} there is a need to have some special "feel" to issue that recommendation?
[12:10] {Threei} some great insight?
[12:10] {fernp} FAZ no go
[12:10] {Les} UMPQ
[12:11] {Les} nah a bit slow
[12:14] {Threei} TM is a beaut
[12:17] {Les} you took it?
[12:18] {Threei} 12:08] {Threei} took 73 break... too fast to alert...
[12:18] {Les} nice.
[12:22] {Les} s TM .97
[12:24] {Threei} hmmm
[12:24] {Threei} why?
[12:24] {Les} 200 ma
[12:24] {strider} to make money, vad. What planet are you ffrom?
[12:24] {Threei} sorry
[12:24] {Les} but it looks like it wants to take it
[12:24] {Threei} didn't think of that
[12:24] {strider} :)
[12:25] {dino} lol
[12:26] {Threei} I'll wait for a trade to be over one way or anotger, to comment
[12:27] {Les} out +.10
[12:27] {Les} Vad's scaring me
[12:28] {strider} He claims he's just a teddy bear, les.
[12:28] {Threei} just a sec
[12:28] {Les} who kills people for forgiveness
[12:30] {strider} He's really one of those Stephen King teddy bears: when you turn your back he grows horns and drools blood.........your blook.
[12:30] {strider} blood.
[12:31] {Threei} my problem with that reasoning, Les:
[12:31] {Threei} you don't assume automaticaslly that supports or resistances created by MAs will hold
[12:32] {Threei} they are just the levels to watch
[12:32] {Threei} what you really want for a high probability trade is:
[12:32] {Threei} some nice signal COINCIDING with those levels
[12:32] {Threei} That's when you have the best odds
[12:32] {Les} ok.
[12:32] {Threei} looking back at this one, for instance,
[12:33] {nemo} so, like when I call a trade long....go short
[12:33] {Threei} should you get double top at, let's say .10
[12:33] {Threei} with bottom between two peaks at 74,
[12:33] {Threei} with first peak piercing BBs,
[12:33] {Threei} second peak contained within them,
[12:34] {Threei} I'd scream bloody murder if you DIDN'T take such trade
[12:34] {larisa} I think Les's idea was not bad, may be a bit early for comfort. off .20 res. 3 drives to a top pattern with falling indicators into 200 MA. of course vad had to ask "why? " :)
[12:34] {Les} cool
[12:34] {Threei} but the trade was taken before those 3 drives Larisa
[12:35] {Threei} that's what gave me pause
[12:35] {larisa} not really, 74 and 2 tops at 74.20
[12:35] {larisa} perfect for scalp in my book
[12:35] {Les} i don't understand a word larisa is saying...
[12:35] {larisa} lol
[12:35] {Threei} 12:22, Larisa
[12:36] {larisa} 12:14 first
[12:36] {Threei} se?
[12:36] {Threei} 12:14 touched 74
[12:36] {Threei} 12:22 entry is not after 3 drives
[12:37] {Threei} it was rather arbitrary entry into upward momo
[12:37] {Threei} chancing it
[12:37] {Threei} it's not impossible to trade this way and make money of course,
[12:37] {larisa} 12:14, 12:20, 12:25
[12:38] {Threei} but it's a hard way
[12:38] {Les} ok I see what you're both on about
[12:38] {Les} gives me a new way to look at resistance plays
[12:38] {larisa} 3 rising tops with indicators dying
[12:38] {larisa} very good pattern
[12:38] {Les} indicators being?
[12:39] {Les} volume I assume and what else
[12:39] {Threei} what three tops? your third is AFTER the entry :)
[12:39] {larisa} whatever you use. I use SMI
[12:39] {Les} yeh yeh yeh that we understand
[12:39] {nemo} would you to get a room
[12:39] {Threei} .97 entry gives you 25 cents stop
[12:39] {Les} I am bad Vad
[12:39] {larisa} this is why i said he was a bit early :)
[12:39] {Les} trying to understand how larisa does business
[12:40] {larisa} do not les, just follow vad or you will be confused, i just wanted to protec you a bit :)
[12:40] {larisa} protect
[12:40] {nemo} Man (in the general sense) has been trying to understand them since the universe was created
[12:40] {Les} that's sweet, thank you:)
[12:41] {Les} anyone to back me up against that grumpy, steven king evil teddy bear...
[12:41] {nemo} hell no...smell blood, time to partake
[12:41] {Les} Vad, this a pullback before a long in TM?
[12:42] {Les} before potential entry
[12:42] {Threei} hmm?
[12:43] {Threei} sorry Les, don't underdtand
[12:43] {Les} any working scenarios for TM?
[12:43] {Les} but it dropped a bit now
[12:43] {Threei} you measn if this pullback is good for entry?
[12:43] {Les} y
[12:43] {Threei} IMO, it's getting tired
[12:43] {Threei} moves are likely to become more random
[12:43] {Les} ok. might wait for EOD selloff
[12:45] {Threei} to finish my houghts Les, before Larisa ultimately protects you...
[12:45] {larisa} protect=defend :)
[12:45] {Threei} don't look at support and resistance as levels that will hold
[12:46] {Threei} look at them as levels where stock will prove something,
[12:46] {Threei} that it's either capable of breaking them or not
[12:47] {Threei} H&S
[12:47] {Threei} bounce into .20 - .30 is for short
[12:48] {Threei} RIMM guys
[12:49] {nemo} yeah
[12:49] {Threei} thing continues consolidasting under the high
[12:49] {Threei} .50 formed good resistance to break
[12:49] {Threei} zI wish we didn't have the next one so close as .63
[12:49] {Threei} but still
[12:50] {Threei} it's worth a try on a break
[12:50] {Threei} and watch TM for short is bounces into that 74.20 - 74.30
[12:50] {Threei} is = if
[12:51] {Threei} RIMM{ half out
[12:51] {Threei} scalpers take profit
[12:51] {Threei} and don't admit you did
[12:52] {strider} you talkin t' me?
[12:53] {nemo} o.k. Deniro
[12:53] {strider} ain't nobody else here so you must be talkin' to me.
[12:54] {strider} I hate RIMM
[12:55] {Threei} Research in Motion Ltd Reportedly London High Court judge rules RIMM did not infringe a Motorola e-mail gateway patent
[12:55] {Threei} - Suits over the issue have been ongoing since 2007 when a license agreement ended between the two companies. MOT has a separate suit which it filed with the ITC last month seeking to prevent RIMM from importing smartphones that allegedly infringe its patents.
[12:55] {Threei} Toyota Motor Corp Comments that consumers should contact dealers assuming issues are encountered with acceleration pedals
[12:55] {Threei} - comments that 'confident vehicles are safe to drive'
[12:55] {strider} TM touched 74.30
[12:56] {nemo} might want to watch fcx also
[12:56] {nemo} been consoliating after strong down move
[13:01] {Threei} ACOR new 52 week highs
[13:08] {fernp} gotta go. Good evening everybody. See u all tomorrow
[13:08] {dino} cya fern
[13:09] {Threei} take care fern
[13:11] {Threei} Fed's Warsh: Mortgage system needs evaluation; resolution authority alone for financial firms not sufficient to handle risks of financial system
[13:11] {Threei} - feels that some financial companies have an 'implicit support' from the Govt; which causes weak market discipline
[13:11] {Threei} - must look at Fannie and Freddie among other aspects of mortgage system for the originations of the crisis
[13:11] {Threei} no really?
[13:11] {Threei} Fannie and Freddie had something to do with that?
[13:20] {Threei} TM is long closer to 74 now
[13:21] {Threei} if no pullback anymore, let's try semiaggressive .20 break
[13:21] {Threei} if stays above .10
[13:21] {Threei} ok, pulling back
[13:22] {Threei} .10 break long
[13:22] {Threei} if holding 74
[13:24] {Threei} not a scalp if works
[13:28] {Threei} my plan: first partial closer to .40, second abiove .50 and third around .70-.90
[13:28] {Threei} 1:1
[13:28] {Threei} first partial out
[13:28] {Threei} .36
[13:29] {Threei} second partial out
[13:29] {Threei} .55
[13:30] {larisa} liked setup :)
[13:30] {Threei} and?
[13:30] {larisa} nothing, good job :)
[13:30] {Threei} if no one took it, I'll see you all in 2013
[13:31] {Les} I didn't
[13:31] {Les} but I was serving dinner, so I have excuse
[13:32] {jmb} thanks vad - still holding some
[13:32] {Threei} whew... thank you jmb
[13:32] {Threei} I was going to ask, are you all kidding me?
[13:32] {Threei} 10 cents risk on such stock with such potential?
[13:33] {Threei} if you guys don't take this jind of trades, what am I doing here
[13:33] {jmb} new stop?
[13:34] {Threei} I'd keep it low, under .20
[13:34] {jmb} thanks
[13:34] {nemo} got support at .30
[13:34] {Threei} don't want to lose any single cent on it, and want to give it somne room to breathe
[13:34] {Threei} it can go to 75 easy
[13:35] {nemo} actually formed nice C&H on 5 minute or two minute
06[13:35] * Threei slaps whole room except jmb around a bit with frozen trout weighing 120 lbs and endowed with very sharp fins
[13:35] {nemo} I wasn't here
[13:36] {Threei} I don't care
[13:36] {nemo} sounds about right
[13:36] {nemo} meany
[13:36] {Threei} got anything new to share?
06[13:36] * nemo pulls out voodoo doll of vad
[13:37] {Threei} Stimulus money goes to anti-obesity projects
[13:37] {Threei} definition of stimuls widens before our very eyes
[13:37] {nemo} ha ha ha
06[13:38] * Threei eats his vodoo dolls for breafast niot even taking pins out
[13:40] {Threei} Transportation Sec Says He "Misspoke" Adising Toyota Owners to Stop Driving
[13:40] {larisa} lol
[13:40] {Threei} I'd say guy is lucky Toyota is not really in position to sue
[13:40] {Threei} PR nightmare it is in kind of precludes that
[13:41] {Threei} otherwise that "misspeaking could cost govt dearly:
[13:41] {Threei} 3rd target is hit TM
[13:42] {Threei} your decision from now on
[13:42] {jmb} out - thanks vad
[13:42] {Threei} welcome :)
[13:50] {ese} .
[13:50] {ese} just watchin
[13:52] {Les} maybe one more bounce for RIMM before b/d for smaller stop
[13:54] {Les} RIMM .50 b/d?
[13:56] {Les} s RIMM .49. damn could be bounce time for market
[13:56] {Threei} I asm not delighted, honestly
[13:59] {Les} stopped
[14:00] {nemo} honesty?
[14:00] {nemo} wrong room
[14:02] {Threei} Market Internals update at 2:00pmET
[14:02] {Threei} - NYSE volume 595M shares, about 6% below its three-month average; decliners lead advancers by 2.9:1.
[14:02] {Threei} - NASDAQ volume 1.54B shares, about 15% above its three-month average; decliners lead advancers by 1.4:1.
[14:02] {Threei} - VIX index +0.25% to just over 21.50
[14:06] {dino} cacc
[14:10] {Les} LXK for b/o?
[14:11] {Threei} probably
[14:11] {Threei} kind of 55/45
[14:11] {Les} k
[14:25] {dino} ioc gap fill from mon. close
[14:29] {dino} ads
[14:31] {nemo} amsc db
[14:32] {Les} fdx .30 b/d?
[14:33] {Threei} nah
[14:33] {Threei} it's not even badf setup
[14:33] {Threei} they simply don't move
[14:34] {Threei} look at LXK
[14:34] {Les} ?
[14:34] {nemo} coma
[14:34] {Les} stuck in limbo land
[14:34] {Threei} (US) Fed Chairman Bernanke: Fed policies need to ensure price stability, unemployment remains too high
[14:34] {Threei} let me try again:
[14:35] {Threei} (US) Fed Chairman Bernanke: Fed policies need to ensure price unemployment remains too high
[14:35] {Les} :O
[14:35] {dino} sm l ads .00
[14:35] {Les} he really say that?
[14:35] {Threei} well, he said what I posted first time
[14:35] {Les} yeh yeh
[14:35] {Threei} I just casn't help streamlining it
[14:36] {Les} why didn't he ensure stability before it all went to s/&3 one might ask
[14:36] {Threei} because in 2005 he didn't think there was a bubble,
[14:37] {Threei} and in 2007 he thought we already were turning the corner
[14:38] {Threei} and he never thought flooding system with easy money has any consdequences
[14:38] {Les} I'm surprised no one's whipped up a youtube vid with all these contradictions
[14:38] {Threei} and now he gets hailed as a hero for all these high achievements
[14:38] {Les} they really are quite glaring, the inconsistencies with what he says
[14:38] {Les} ditto greenspan
[14:39] {Les} oh well, we'll have to settle for time magazine cover for bernanke as well
[14:41] {Les} lxk
[14:41] {nemo} figures
[14:42] {Les} EL
[14:45] {dino} cacc bit wide
[14:52] {dino} out ads .40, +.40
[14:53] {Les} nice one
[14:54] {dino} ty, bit soon
[14:59] {dino} good call db on amsc
[15:00] {nemo} BC
[15:10] {Threei} AMSC
[15:11] {nemo} where you been
[15:11] {Threei} it's ready to reverse for real, it's only this market pullback that weighed on it
06[15:11] * Threei slaps nemo around a bit with a large running commentary
[15:11] {nemo} .50 hold .40?
[15:11] {nemo} oops
[15:11] {Threei} yes
[15:12] {nemo} oh well, nice call on my part, that's about it
[15:12] {nemo} it peaked at the 200 also
[15:15] {Threei} wastch market here
[15:15] {Threei} it spikes, grab AMSC
[15:15] {dino} indeed nemo
[15:18] {nemo} that's my allotment of BC moments
[15:21] {nemo} amsc back to the bottom
[15:21] {dino} 2
[15:21] {nemo} 2 what
[15:22] {dino} 2 x a day
[15:24] {dino} lea
[15:25] {nemo} ex?
[15:27] {dino} sm amsc l .18
[15:28] {Les} s amsc .25
[15:28] {dino} ads sm l .26
[15:29] {Les} out +.10
[15:31] {dino} cacc
[15:31] {Threei} US Treasury: Some TARP funds to be allocated to some community development lending programs
[15:31] {Threei} they really think of this money as their to distribute eh
[15:31] {nemo} What's new?
[15:31] {dino} second handers
[15:32] {Threei} Market Internals update at 3:30pmET
[15:32] {Threei} - NYSE volume 780M shares, about 5% below its three-month average; decliners lead advancers by 2.8:1.
[15:32] {Threei} - NASDAQ volume 1.97B shares, about 14% above its three-month average; decliners lead advancers by 1.5:1.
[15:32] {Threei} - VIX index +0.75% to just over 21.50
[15:33] {nemo} amsc not moving up with the mrket
[15:33] {dino} sm l .74 cacc
[15:34] {nemo} now it moves a little
[15:34] {dino} amsc is just there to shake me out
[15:34] {dino} tomorrow up 2 on it
[15:35] {Threei} should go now
[15:36] {Threei} but sheesh
[15:36] {dino} stopped ads -.26
[15:36] {Threei} I am really interested what is behind this pressure
[15:36] {Threei} no single hint of anything wrong
[15:36] {Threei} no slightest controversy about it
[15:36] {nemo} rimm sprinting again
[15:36] {Threei} plain straightforward good news all around, and not olverbought
[15:37] {larisa} 90% of AMSC Business are in China. may be campaign starting agains the China? :)
[15:37] {dino} "they" are behind it
[15:37] {nemo} bastids
[15:38] {Threei} well... if Tibet traders drove this stock, I'd understand :)
[15:38] {larisa} lol
[15:40] {Les} there you go dino, some amsc for everyone
[15:41] {dino} f i n a l l y
[15:41] {nemo} might get a positive close
[15:41] {Threei} told ya
[15:41] {nemo} qs and dji easy
[15:42] {Threei} [15:35] {Threei} should go now
[15:43] {Threei} beautiful
[15:43] {dino} out .60 amsc, +.42
[15:43] {Les} i definitely got the short end of the stick on amsc
[15:44] {dino} gotta hop out tex -.09
[15:44] {dino} out rino +.04
[15:45] {dino} ohh mannn amsc
[15:46] {dino} out cacc .81, +.07
[15:46] {dino} thx all, l8r
[15:47] {larisa} bye :)
[15:48] {Threei} take carwe dino
[15:49] {Les} ciao dino
[15:53] {billyc} gn all
[15:53] {Les} c ya billy
[15:56] {Threei} thank you all
[15:57] {Threei} have a good evening, see you tomorrow
[15:57] {Les} no wait! China opens in 3 hours!
[15:57] {Threei} I don't mind, it can feel free to
[15:57] {Les} hmm. well its good night then
[16:00] {Les} how rude of me to leave without saying "good night"