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 problem...ie: 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 settles....it'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

[10:00] {Threei} JAN ISM NATIONAL NON-MANUFACTURING COMPOSITE: 50.5 V 51E

[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 ....it'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 horses...ah...er....rear

[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"