Wednesday, March 10, 2010

Mar 10 2010

Another profitable day (boy, it's getting old - 4 weeks and 3 days now) with 3 longs (OCLS, SVNT, FITB), 1 short (ITMN) an a few discretionary trades (C long, KCI short, TSYS long,) all of which worked like charm.

Session Time: Wed Mar 10 00:00:00 2010

[08:00] {magoo} mornink comrades
[08:04] {strider} morning, magoo. You're up early.
[08:09] {Threei} OCLS Receives FDA Clearance for Microcyn-Based HydroGel
[08:09] {Threei} - announced that it has received new 510(k) clearance from the U.S. Food and Drug Administration (FD... (1.81, 0.00, 0.00%) more...
[08:10] {Threei} The Rx product, under the supervision of a healthcare professional, Microcyn Skin and Wound HydroGel is intended for management of wounds including itch and pain relief associated with dermal irritation, sores, injuries and ulcers of dermal tissue.
[08:10] {Threei} - Microcyn HydroGel for dermatology indications will be commercially available in April 2010
[08:11] {Threei} [CYTK] FDA grants orphan drug designation to CK-2017357 for treating ALS
[08:11] {Threei} - CK-2017357 is the lead drug candidate that has emerged from the company's skeletal sarcomere activator program. Cytokinetics plans to initiate a
[08:11] {Threei} Phase II Evidence of Effect clinical trial for CK-2017357 in ALS patients in the first half of 2010.
[08:12] {Threei} ITMN Trades up more than 50% after resumption of trading following FDA panel backing of Pirfenidone for Idiopathic Pulmonary Fibrosis (23.30, 0.00, 0.00%)
[08:12] {magoo} WOW
[08:40] {nemo} morning tradeaholics
[08:44] {Threei} nemo :)
[08:44] {strider} morning guys
[08:44] {Threei} strider :)
[08:44] {strider} :)
[08:44] {nemo} strider :)
[08:45] {nemo} aig looking like it wants to run again
06[08:47] * nemo slaps Les around a bit with a large trout
[08:47] {Threei} EUR/USD BoA analyst revises euro forecast; sees EUR/USD at $1.38 by end of March
[08:47] {Threei} where is it now?
[08:47] {Les} gimme a break, I just got here
[08:47] {Les} :)
[08:47] {Les} morning evil twins
[08:47] {Threei} forecasts $1.32 by June and $1.20 by the end of 2011
[08:48] {Threei} that WAS a break Les
[08:48] {nemo} ?
[08:48] {Threei} his first idea was a bazooka
[08:48] {Les} March 10 (Bloomberg) -- The worst of Greece’s financial crisis is over and other European nations won’t follow in its path, said former European Commission President Romano Prodi. “For Greece, the problem is completely over,” said Prodi, who was also Italian prime minister, in an interview in Shanghai today.
[08:48] {Les} and here Vad was bad mouthing the Euro...
[08:48] {Les} Prodi reassures china it is over
[08:49] {Threei} of course then
[08:49] {Threei} prodi knows stuff
[08:49] {nemo} Yeah, like I'd believe the guinea
[08:49] {Les} AIG likely to continue yesterday's behaviour?
[08:50] {Les} does it have history of doing so?
[08:50] {nemo} well it popped on the open, and is now basing
[08:50] {Threei} as in big moves - yes
[08:50] {Threei} direction - toss a coin
[08:50] {Les} ok
[08:51] {nemo} although on the daily 34 is pretty strong resistance
[08:57] {Threei} don't know how significant FDA approval is for OCLS but a stock has history of running
[09:01] {Threei} (EU) ECB's Weber: Markets have stabilized and economic recovery has begun (related BUNDS EUR/USD FEZ )
[09:01] {Threei} weber knows stuff too
[09:04] {Threei} - says the 'Volcker Rule' could adversely effect monetary policy transmission
[09:04] {Threei} what the heck is monetary policy transmission
[09:05] {nemo} yep...that's why the big banks get away with what they do...they're a conduit for Fed Policy and Treasury auction functions
[09:08] {dino} gm all, wow itmn
[09:08] {Threei} dino :)
[09:08] {Les} hey dino
[09:09] {dino} :)
[09:09] {dino} nav blood
[09:13] {nemo} mon might be getting ready to make a move...looks like might be double basing on daily
[09:13] {fernp} Good morning everybody
[09:13] {Les} fern
[09:13] {Threei} fern :)
[09:17] {larisa} gm :)
[09:17] {Threei} larisa :)
[09:18] {strider} morning, larisa
[09:18] {larisa} vad, strider :)
[09:19] {nemo} lari :)
[09:19] {RonS} gm all ;)
[09:19] {Threei} Ron :)
[09:20] {jfjf64} mornin
[09:20] {Threei} jf :)
[09:21] {dino} aixg
[09:21] {Les} ron, jf, larisa
[09:21] {jfjf64} les
[09:21] {RonS} C pre interesting. Testyed 4. niw off that. Would seem a 4. reg session test must come
[09:22] {lasertrev} morning
[09:22] {Threei} trev :)
[09:24] {jfjf64} anythin in cross hair vad
[09:24] {Threei} OCLS
[09:24] {Threei} CYTK
[09:24] {Threei} ITMN
[09:24] {Threei} AIG
[09:24] {jfjf64} a hunting we shall go
[09:29] {Les} C might come into play sooner or later. rumour mill is at work. uncle sam to quit ownership soon...
[09:30] {RonS} CYTK short report shows 1.8 mil but only 3% of float
[09:32] {magoo} AIG rockin
[09:33] {Les} passing yesterdays high
[09:33] {magoo} in .50
[09:33] {magoo} 0ut .87
[09:34] {nemo} deft
[09:34] {Les} cytk .55 b/k?
[09:34] {magoo} lets stay on it vad
[09:34] {Threei} Long Setup: FITB .85 break
[09:34] {magoo} fast to post early
[09:34] {Threei} slow
[09:34] {Threei} stop under .75 for scalpers
[09:34] {Threei} .70 for day traders
[09:35] {Threei} Long Setup: OCLS .75 break
[09:35] {Threei} thin, jumpy, momo canaidate
[09:36] {magoo} dam AIG
[09:37] {magoo} coulda had a point
[09:37] {magoo} GS downward
[09:39] {Threei} Long Setup: SVNT .50 break if stays above .35
[09:39] {Threei} daily chart play
[09:39] {magoo} AIG .50 break
[09:39] {Threei} FITB 1:1 for scalpers
[09:39] {magoo} in
[09:39] {Threei} OCLS stop under .60
[09:40] {Les} taken ty
[09:40] {Les} nice call on aig mags
[09:40] {magoo} out .98
[09:40] {magoo} dammit
[09:41] {magoo} another point
[09:41] {Threei} OCLS 1:1
[09:41] {Threei} half out
[09:42] {Threei} stop to b/e, opffering 1/4 above 3
[09:43] {dino} out ocls +,12 ty vad
[09:43] {Threei} :)
[09:43] {dino} out fitb +.13, ty vad
[09:43] {Threei} :)
[09:44] {Threei} (US) Preview: Jan Wholesale Inventories due out at 10:00ET
[09:44] {Threei} **consensus expectations: +0.2%e v -0.8% prior
[09:45] {dino} out svnt +.12, ty vad
[09:45] {Threei} :)
[09:45] {fernp} JBLU breakout, Vad?
[09:45] {Threei} probably...
[09:45] {Threei} I like chart,
[09:45] {Threei} I am not in a very good relationship with this stock
[09:45] {fernp} ty
[09:45] {Threei} FITB 1:1 for day traders
[09:46] {Threei} half out
[09:46] {Threei} ese would be very happy with FITB today
[09:47] {dino} es is always happy
[09:47] {Threei} all his 50K would have played nicely
[09:47] {fernp} sure :-)
[09:48] {Threei} offer 1/4 more FITB .12
[09:50] {Threei} US) Nevada reports Jan casino Rev $883.3M, -3.2% y/y; Las Vegas strip $495M, -3%
[09:50] {Threei} larisa, Las Vegas needs you badly
[09:51] {larisa} but i will win, not lose :)
[09:52] {Threei} ok, you better stay home then
[09:52] {dino} i expect you to
[09:52] {larisa} :)
[09:52] {Threei} thick-necked mobsters in black sweaters watch for those winners not for nothing
[09:54] {Threei} numbers in 7 min
[09:54] {Threei} 6
[09:54] {Threei} LVS took you seriosuly larisa... dropped after you warned about your purposes
[09:54] {Threei} I have new strategy
[09:55] {Threei} we short LVS, you say "I am going there to win"
[09:55] {larisa} stay focused, still early :)
[09:55] {Threei} it drops, we cover, go long, you say "or maybe lose"
[09:55] {Threei} want to wait out numbers at 10
[09:57] {dino} syx sm s .64
[09:57] {magoo} not a call..but AIG gonna near 39 today
[09:58] {Threei} GFIG Well positioned to capitalize on changes on OTC market changes - Raymond James conf slides (5.86, -0.05, -0.85%) '
[10:00] {Threei} US) JAN WHOLESALE INVENTORIES: -0.2% V 0.2%E
[10:01] {Threei} Short Setup: ITMN .90 brak half lot
[10:01] {Threei} argh
[10:01] {Threei} see if bounces back into trigger
[10:01] {Threei} 39.05 stop
[10:02] {Threei} ok, same setup
[10:02] {dino} asps
[10:04] {magoo} WFC nears high
[10:04] {Threei} die ITMN
[10:04] {dino} sm l .98 asps
[10:06] {magoo} things jumpy dino
[10:06] {Threei} AIG CNBCs faber: Recent strength partially attributed to possible short squeeze (36.71, +3.94, 12.02%)
[10:06] {magoo} vad..WGFC may be next
[10:07] {Threei} easy
[10:08] {dino} lol magoo, a bit huh
[10:08] {dino} out .61, +.63 asps
[10:08] {magoo} asps just reported dino
[10:08] {dino} i knpw
[10:08] {dino} i know
[10:09] {magoo} WFC dave
[10:09] {dino} nobody took it?
[10:09] {magoo} i
[10:09] {dino} i'm out .61
[10:10] {magoo} 91% of AIG stock avail for shorting is borrowed
[10:10] {magoo} news
[10:11] {magoo} out 24.19 + 1 point DUINO
[10:11] {magoo} dino
[10:11] {dino} gj
[10:11] {Threei} ITMN stop to above 39, let's be stingy
[10:12] {Threei} 1:1
[10:12] {Les} out ty
[10:13] {Threei} can do more, IMO
[10:13] {dino} open sm l .75
[10:13] {Threei} out 3/4 .70
[10:13] {Threei} stop to above .90
[10:14] {Les} fitb fighting massive offers under hod
[10:14] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:14] {Threei} **consensus expectations:
[10:14] {Threei} Crude: +1.8Me
[10:14] {Threei} Gasoline: +100Ke
[10:14] {Threei} Distillate: -1Me
[10:15] {Threei} not really valid indication for FITB, Les
[10:15] {Threei} it has huge bids and offers
[10:16] {Les} ok. I tried again at .01, but took it for a couple of cents. dunno what it wants to do
[10:16] {Threei} those have significance when they are drastically differ from normal for the stock
[10:16] {Les} USO nice chart
[10:16] {Threei} yesterday's Prius guy says 'I was afraid to switch car to neutral"
[10:17] {Threei} I swear one of us is crazy - I or world
[10:17] {Les} he's been playing World Rally Championships too long
[10:18] {Threei} this tiome even 911 operator was telling him to do that
[10:18] {Threei} yet he wouldn't
[10:18] {Les} speaking of rally, you taken that black beast out the back and thrashed it a little?
[10:20] {Threei} bidding .55 ITMN balance
[10:21] {Threei} out
[10:21] {Threei} that's 4 for 4
[10:21] {Threei} can I go home?
[10:21] {Les} babysit us for next 5 hours
[10:22] {Threei} aww, covered too soon
[10:23] {Les} fitb short?
[10:23] {fernp} C if breaks 4, vad? is valid?
[10:24] {Threei} with stop under .95... why not
[10:24] {fernp} yes. ty
[10:25] {Les} aig coming down
[10:27] {dino} itt
[10:29] {Les} zion .56 break?
[10:30] {dino} syx bstop to .,51
[10:30] {Threei} DOE CRUDE: +1.4M V +1.8ME
[10:30] {Threei} GASOLINE: -3M V +100KE; DISTILLATE: -2.2M V -1ME
[10:31] {Threei} not sure Les
[10:32] {dino} itmn nice short vad
[10:33] {nemo} new highs spy
[10:35] {dino} jan highs 10729, 1896 (past), 1150
[10:36] {dino} swm sm l .25
[10:36] {dino} cov syx .34, +.30
[10:42] {dino} ustr
[10:45] {dino} swm stop is .94 fwiw
[10:45] {Threei} Market Internals update at 10:30amET
[10:45] {Threei} - NYSE volume 265M shares, about 9% above its three-month average; advancers lead decliners by 1.8:1.
[10:45] {Threei} - NASDAQ volume 565M shares, about 11% above its three-month average; advancers lead decliners by 1.5:1.
[10:45] {Threei} - VIX index -1.5% to just over 17.50
[10:47] {dino} lol, informercial "better traders"
[10:47] {Threei} C with its blazing speed...
[10:48] {Threei} about to get blisters
[10:52] {Threei} next C uptick is coming in the theater near you - this, yes THIS year!
[10:53] {fernp} lol
[10:54] {dino} scannersall green
[10:56] {magoo} a summer release vad :0
[10:56] {Threei} late summer
[10:56] {Threei} yessss
[10:57] {Threei} new high C
[10:57] {Threei} 1 cents higher than old high
[10:57] {nemo} 880
[10:58] {Threei} wooohooo
[11:00] {dino} aspsd
[11:00] {dino} asps
[11:01] {Threei} ECB's Noyer: Rules out the possibility of Greece defaulting on debt
[11:01] {Threei} - CDS should be supervised by central banks
[11:01] {nemo} he knows
[11:01] {dino} sm l .11
[11:02] {Threei} wow SVNT
[11:03] {Threei} 40 cents from our entry
[11:05] {Les} good call dino
[11:05] {Les} before you said you were long
[11:05] {Les} i was think short it
[11:06] {Threei} hard to believe but C is up from entry not 2, not 3... not even 4... but, ger ready for this... drumroll... 5, yes, FIVE cents!
[11:07] {Les} l C .01. this is sort of speed I can handle
[11:07] {Threei} not getting dizzy?
[11:07] {Threei} no seaseackness?
[11:07] {Threei} sickness
[11:07] {Les} beer sickness maybe
[11:08] {dino} ty les
[11:08] {Threei} whatever... out, and got nice rebate
[11:08] {Threei} ty fern
[11:08] {dino} had a green beer last night
[11:09] {dino} out asps .70, +.59
[11:09] {Les} and here I thought you were mocking fern Vad...
[11:09] {fernp} sorry Vad
[11:09] {Threei} why would I
[11:09] {Threei} I was mocking C
[11:09] {fernp} i'll never do it again
[11:09] {Les} didn't realise you were long too
[11:09] {Les} ok. mocking C is good
[11:09] {Threei} scalp type I
[11:10] {Les} out +.05 ty fern
[11:10] {Threei} big shares, get out into buying at the offer, get ECN rebate
[11:10] {Threei} eats nicely into commissions
[11:11] {Threei} all Laser users realize how it works?
[11:12] {nemo} if you create liquidity=sell, they pay you as long as it's not at the bid/offer when you enter the order?
[11:12] {magoo} looky WFC vad
[11:12] {magoo} u dismissed me
[11:12] {Threei} wow... I can't decode that nemo
[11:12] {Les} AIG hovering around 36
[11:13] {nemo} selling creates liquidity, yes?
[11:13] {Threei} I didn't mags, just had no firm read
[11:13] {Threei} no
[11:13] {nemo} oh
[11:13] {magoo} u must provide liquidity
[11:13] {Threei} adding your order creates liquidity
[11:13] {nemo} I was looking at wfc break of .50 back around 10:30
[11:13] {Threei} taking out someone's takes out liquidity
[11:14] {Threei} example will be the simplest way to illustrate the concept
[11:14] {magoo} i mentioned it .35 area
[11:14] {Threei} stock is trading 20 x 20.10
[11:14] {Threei} you want to buy
[11:14] {Threei} hit 20.10 offer - you take away liquidity
[11:14] {Threei} bid at any price BELOW 20.10 - you add liquidity
[11:14] {Threei} you want to sell:
[11:15] {Threei} hit the bid at 20 - you take away liquidity
[11:15] {Threei} offer at any price HIGHER that 20 - you add liquidity
[11:15] {Threei} of course in order to get a fill you need someone to hit your order
[11:15] {Threei} that's why it's better to exit into strong buying,
[11:16] {Threei} offering your shares into surge
[11:16] {Threei} like C at .05
[11:16] {Threei} but when your order is taken out - ECN pays you
[11:16] {Threei} look at your Analysis window
[11:17] {Threei} where there is a breakdown separately passtru and comm
[11:17] {Threei} you will see how your passsthru number drops if you got hit on adding liquidity order
[11:18] {Threei} and if you manage to get it on both ends - you will actually see positive number in there
[11:18] {Threei} rare case though, to get bioth in and out adding liquidity
[11:18] {magoo} AIG
[11:20] {magoo} off ,50 imo
[11:20] {Threei} was it understandable guys?
[11:21] {magoo} ya ya
[11:21] {strider} I understood it..
[11:21] {strider} But I already knew it.
[11:21] {Threei} ok, I'll go back to sleep then
[11:22] {strider} o you know what the 'give up' colum is, on the summary sheet.?
[11:22] {strider} do
[11:22] {strider} column
[11:22] {Threei} hmm?
[11:23] {strider} Look on the 'print summary', under files.
[11:23] {strider} There's a column called 'give up'.
[11:23] {Threei} huh... no, lol
[11:23] {strider} I think that might be Trev's profit.
[11:25] {dino} stood stand under above
[11:25] {dino} nav puzzles me
[11:25] {strider} 'stood stand under above' puzzles me.
[11:26] {dino} the my job is done
[11:26] {Threei} lol
[11:26] {strider} I see.
[11:26] {Threei} I guess ask Trev, strider, no idea what that is
[11:27] {Threei} could be SEC fee
[11:27] {strider} k
[11:27] {strider} As in, "OK, youse, gyse, give it up."
[11:27] {magoo} AIG invalidated
[11:27] {magoo} for now
[11:27] {dino} yutes
[11:27] {strider} persactly
[11:28] {nemo} aig very slow steady climb of support
[11:28] {strider} Awh, dino, now you got me thinkking about Marisa Tomei again.
[11:29] {Threei} no chance strider... everyone knows she likes short bald stocky guys
[11:29] {strider} I can change.
[11:29] {nemo} she looked great in "The Wrestler"
[11:30] {strider} Haven't seen that yet. But I will.
[11:30] {nemo} download it
[11:30] {dino} she's pleasant to look at
[11:30] {strider} what a gentleman.
[11:30] {Threei} loo at SPY intraday
[11:30] {RonS} .
[11:30] {nemo} you see quite a bit of her in the movie
[11:31] {Threei} activity ended and stall started exactly at 1 hour after open
[11:31] {Threei} 1h 5 m
[11:31] {dino} i always thought she was a hottie
[11:31] {RonS} ...computers have clocks...
[11:31] {Threei} so did George Costanza
[11:31] {strider} nemo, you gotta see
[11:32] {strider} The Perez family.......from 1995
[11:32] {nemo} ?
[11:32] {strider} Tomei stars in it.
[11:33] {Threei} read and wheep:
[11:33] {Threei}
[11:34] {dino} tho hl l .50
[11:38] {dino} let's hope they get "no" across to the obaination
[11:39] {Threei} Leap Wireless International MetroPCS CFO: Clearly interested in a possible combination with Leap Wireless
[11:39] {Threei} - reminder: on 2/11 MetroPCS reportedly hired bankers to advise on a possible bid for LEAP, and on 2/17 a report circulated that the two firms could be getting close to striking a deal.
[11:39] {RonS} ...idealogues refuse to take feedback.
[11:39] {Threei} eqzaktly
[11:39] {Threei} no for them just means "you are stupid, you don't get it, so I'll do it anyway, for your own good"
[11:40] {RonS} ...does ZION bear watching?
[11:40] {dino} out open.88, +.13
[11:40] {Threei} I don't see any definite setup on it
[11:40] {RonS} zion, I am looking at the one year daily...
[11:41] {Threei} very nice looking one
[11:41] {Threei} you'll see close picture on FITB
[11:42] {magoo} silver and gold getting crushed
[11:42] {Threei} this is general sector chart mostly
[11:42] {Threei} yeah mags, interesting considering oil strength
[11:48] {Les} aig broke
[11:50] {KSystems} Arrrrr
[11:50] {Threei} lol
[11:50] {Threei} hey KS
[11:50] {KSystems} Yes, I reinstalled my box
[11:50] {nemo} wow
[11:50] {KSystems} and it obviously seems to work
[11:50] {Threei} that was funny as heck
[11:50] {Threei} owner of hosting server not being able to get in
[11:51] {KSystems} shut up :D
[11:51] {Threei} yes sir {G}
[11:51] {Threei} but, just how funny was that
[11:51] {KSystems} sigh
[11:51] {RonS} OCLS setting up for run?
[11:52] {nemo} Halt's Maul
[11:52] {Threei} I doubt it
[11:52] {Threei} out of gas
[11:52] {Threei} maybe close to eod
[11:52] {KSystems} i like you too nemo
[11:52] {nemo} Es ist mir ein Vergnuegung
[11:53] {Threei} (GR) German Chancellor Merkel: Greek crisis cannot be allowed to happen again, Maastrict treaty is not sufficient in dealing with violations of rules
[11:53] {Threei} - Must strengthen Eurostat.
[11:55] {Threei} KS, look dcc pls
[11:55] {Threei} (FR) France PM Fillon: Agrees with Germany on necessity to restrict extreme speculation (related NBG EUR/USD USD/JPY ICE )
[11:58] {dino} i supoose germany should invade greece
[11:58] {dino} :)
[11:58] {Threei} fRANCE DOESN'T MIND
[11:59] {Threei} oops
[11:59] {Les} Wall St not invited to sovereign bond auctions in Europe
[12:00] {Threei} lol
[12:00] {nemo} that's the net trip wire for the market, teh 1:00 auction
[12:00] {Threei} good luck to them regurguilating those bonds between themselves
[12:00] {nemo} wow...what a slaughter of the english language
[12:02] {Threei} lol
[12:02] {strider} combination of regulating and regurgitating.
[12:03] {Threei} I tried to do europian version of it
[12:05] {strider} Back shortly...
[12:05] {nemo} thanks for the warning
[12:05] {Threei} and hurry back
[12:05] {strider} with friends like these.....
[12:06] {nemo} :)
[12:09] {magoo} AIG big barfe
[12:09] {Les} mags, in your experience AIG gonna bounce at 35?
[12:10] {dino} stop swm -.25
[12:10] {Threei} (US) NY releases budget plans; max debt issuance at $6B
[12:10] {Threei} - requires a pay down of the structural gap and allowance of borrowing assuming controls were followed
[12:11] {magoo} NO
[12:12] {magoo} death
[12:12] {Les} out -.10
[12:12] {Les} tried for 10 cents. failed
[12:12] {magoo} sorry if my response was late
[12:12] {magoo} 34.50 coming
[12:13] {Les} no problem. I structured a play according to the rules, didn't work
[12:13] {Les} unfortunately I can't short
[12:13] {magoo} more intersted here
[12:13] {magoo} NOT in
[12:13] {magoo} careful
[12:13] {magoo} WOW
[12:13] {magoo} we need vad to call it
[12:15] {magoo} but hes been IGNORING me
[12:15] {Threei} well mags, be fair - I was deprived of this pleasure for what, about a month?
[12:15] {magoo} more i believe
[12:15] {Threei} see?
[12:16] {Les} crap OCLS just went nuts
[12:16] {nemo} pretty much from the 1st of the year
[12:16] {nemo} rimm holding fairly well in this pullback
[12:16] {Threei} uou take prolonged vacation, I can't ignore you, can't slap you
[12:16] {Threei} GOOG Exec: Stands behind plans to end censorship on Chinese portal, Google is ready to "accept the consequences" (568.61, +8.42, 1.50%) (related BIDU )
[12:17] {Les} good eye on OCLS Ron. Was negotiating with daughter for clean room and it broke...
[12:20] {Les} Vad, that big long down spike on AIG just before bounce - indicative of reversal?
[12:20] {dino} sam
[12:20] {nemo} see volume with it Les, that's an indicator also, but, big range
[12:22] {Threei} as a concept - yes, les, but as a setup - no
[12:22] {Threei} in a sense that it doesn't give you a structure for entry
[12:22] {Threei} (GR) Greek PM: Believes EU would intervene in markets if Greek borrowing costs do not decline (related EUR/USD BUNDS SOVRX NBG )
[12:23] {Les} sure. just admiring how it stopped at .50. dino's quarter theory at work
[12:24] {Threei} - EU has ways to lower Greek borrowing costs.
[12:25] {Threei} Adam Smith's invisible hand is so getting ready to slap these interventionists
[12:25] {dino} those quarters are something huh les
[12:25] {Les} that would be those pesky speculators govt. would like to kneecap?
[12:26] {dino} what they forget is nobody is bigger than mr market
[12:28] {Threei} their ideology says oterwise
[12:29] {Threei} they just don't believe in objective forces
[12:29] {Threei} in teir mind (or whatever serves them for it), they can will everyting if they think it's "the right thing to do"
[12:29] {dino} as i tell my kids, just because someone says it doesn't make it true. these guys can talk all they want
[12:30] {dino} tho stopped -.25
[12:30] {dino} hit 5 in row just missed 2, break time
[12:31] {dino} 7 in row, my mistake
[12:31] {Threei} (EU) ECB's Weber: ECB will draw a clear line between monetary policy and financial regulation
[12:31] {Threei} - Central banks must play a role in ESRB
[12:32] {Les} Problem is too many think like these bozos in all walks of life
[12:32] {Les} I've had a gutfull of Marxism in literature...
[12:33] {Les} still looking to understand why the masses are deceived, how horror like Dracula continues the deception
[12:33] {Les} yadda yadda yadda
[12:34] {dino} because it is easier not to think and try, imo
[12:34] {nemo} you take statistics Les?
[12:34] {Les} it's one reason i've taken interest in taoism
[12:34] {dino} plus if you dumb down your voters, ie lower school standards, they will believe this crap
06[12:34] * nemo keels over
[12:34] {nemo} anyway...back to take it les?
[12:35] {Les} no
[12:35] {dino} "get out of the way"
[12:35] {Threei} Preview: Treasury's $21B 10-year note reopening results due out just after 1:00PM
[12:35] {Threei} - $21B is unchanged from the Jan reopening
[12:35] {Threei} - The bid-to-cover at the last reopening was 3.00 with an average of 2.88 over the last 6 reopenings.
[12:35] {Threei} - Indirect bidders took 29% of competitive bids at Jan reopening with 49.9% alloted at the high.
[12:35] {nemo} There's what's called a bell curve
[12:35] {nemo} represents standard distribution across a valid sample size
[12:36] {nemo} So when you're measuring something, IQ for instance
[12:36] {Les} yeh I know what bell curve is
[12:36] {nemo} You have a large enough sample size, the sample will follow a standard distribution
[12:36] {nemo} o.k.
[12:36] {nemo} So, let's say the masses are a good size sample
[12:36] {nemo} How do you think I.Q. will distribute across it?
[12:37] {nemo} O.K...
[12:37] {nemo} Well, basically, 50% will have a lower than average I.Q. (under 100)
[12:37] {Les} hmmm tempted to say uneven distribution
[12:38] {nemo} So 50% of the people don't have the wiring to think critically in the first place
[12:38] {Les} ok
[12:38] {nemo} That leaves 50% who have some intellectual capability
[12:38] {Les} what's your excuse Nemo?
[12:38] {Les} :D
[12:38] {nemo} drugs and alcohol
[12:38] {Les} oh
[12:39] {Les} I wasn't funny
[12:39] {nemo} oh, and my daddy made me where makeup as a child
[12:39] {nemo} Anyway...
[12:39] {dino} no high heels?
[12:39] {nemo} tough as a kid
[12:40] {nemo} so...50% are left with some capacity, although one could argue to really have the ability to comprehend what is going on (as if we have a clue) you have to be a bit farther up the curve
[12:40] {nemo} so let's say 35%
[12:40] {nemo} then there is the matter of interest, laziness, and time, not to mention previous indoctrinated tendencies
[12:41] {nemo} those all come into affect
[12:41] {nemo} that's why the masses will always be the masses
[12:42] {Les} still, no longer able to chop their heads off at kings pleasure
[12:42] {Les} significant progress has been made
[12:43] {nemo} Plu cest change, plu cest le meme chose
[12:43] {dino} and the masses grow if you dumb them down
[12:44] {Les} I personally think marxists are full of it and society is evolving ok.
[12:44] {nemo} and more people are part of the "masses" then they like to believe
[12:44] {Les} of course its one step forward, two back
[12:44] {Les} have you read "Carrie" - steven king?
[12:44] {nemo} saw the movie
[12:45] {Les} one of horror books I'm writing on
[12:45] {nemo} He lives about an hour and a half away in Maine
[12:45] {nemo} got a Victorian house, with a creepy iron gate out front
[12:46] {Les} I think novel is half decent reportage of society as author sees it at the time
[12:46] {nemo} yeah, Sissy Space, John Travolta, and, Spielberg's ex
[12:47] {Les} the horror isn't carrie, but the bloody teenagers tormenting her to commit horror
[12:47] {Les} half decent novel for kids to read, to learn to respect others
[12:47] {Threei} OCLS
[12:48] {Threei} gathers energy for more
[12:49] {Les} did you say OCLS can go momo?
[12:49] {Threei} before open
[12:50] {Threei} no, after
[12:50] {Threei} [09:35] {Threei} Long Setup: OCLS .75 break
[12:50] {Threei} [09:35] {Threei} thin, jumpy, momo canaidate
[12:51] {dino} kci
[12:51] {dino} wins court battle
[12:52] {dino} psys
[12:52] {dino} ?
[12:52] {Threei} no news
[12:53] {Threei} no idea
[12:53] {Threei} PSYS Holding buyout talks with Bain Capital - WSJ (27.97, +4.06, 16.98%)
[12:53] {dino} psys sm s .55
[12:53] {dino} uh oh
[12:54] {nemo} what
[12:54] {dino} cov .10, +.45
[12:55] {Threei} Bain Capital, which is offering 25% premium
[12:55] {dino} ways to go then
[12:55] {dino} 30
[12:56] {Threei} scalped
[12:56] {Threei} that was a good number to provide a play
[12:57] {dino} kci thoghts
[12:58] {Threei} looks overdone to me...
[12:58] {dino} sm s kci .60
[12:59] {Les} thanks dino. couple of scalps there
[12:59] {dino} np, glad to help
[12:59] {dino} that's why you guys pay me, right
[13:00] {Threei} here comes KCI
[13:00] {dino} you are late
[13:01] {Threei} hmm?
[13:01] {Threei} [12:58] {Threei} looks overdone to me...
[13:01] {dino} should lose 51
[13:01] {magoo} damm dino...ASPS
[13:01] {dino} screw it cov ..96, +.64
[13:02] {dino} yeah magoo
[13:02] {dino} well that was a profitable ten minutes
[13:03] {Threei} - Indirect bidders take 35.1% of competitive bids, with 70.94% alloted at high
[13:03] {Threei} - 17.5% go to Direct bidders
[13:03] {nemo} that's not real good
[13:04] {nemo} that's why fas dropping
[13:08] {nemo} mmm kci again?
[13:09] {strider} .
[13:09] {dino} covered way too
[13:09] {dino} soon
[13:10] {dino} corey haim died, 38
[13:10] {nemo} can't get above .10
[13:11] {nemo} timber
[13:18] {Threei} EUR/USD ECB's Trichet: There is international cofidence in the Euro currency; that confidence is 'crucial' (related EUR/JPY EUR/GBP EUR/CHF )
[13:18] {Threei} KCI Hearing JP Morgan suggests taking profits on today's gains (timing uncertain) (50.02, +6.71, 15.49%)
[13:18] {strider} good idea.
[13:19] {Threei} will buyers take thos OCLS offer?
[13:20] {dino} kci sm s .74
[13:20] {dino} bstop is .01
[13:20] {magoo} im sh it from loss of 50
[13:21] {dino} good
[13:22] {nemo} those ocls offers gone
[13:24] {dino} stopped -.26
[13:26] {dino} rinsed
[13:30] {dino} lol psys topped at 29.99
[13:32] {Threei} your 30 was the embodiment of precision eh
[13:33] {dino} lucky guess was up 20% you said the wanted 25%
[13:35] {Les} kci
[13:35] {dino} you cover magoo
[13:39] {Les} ITMN nearing 38. db or death?
[13:40] {Threei} death IMO
[13:43] {Les}
[13:43] {Threei} US) Preview: Feb Monthly Budget Statement due out at 14:00ET
[13:43] {Threei} **consensus expectation: -$222Be v -$193.9B prior
[13:43] {Les} some of you might appreciate humour of australian govt. stimulus
[13:44] {Les} a huge case of fraud, mismanagement and deaths
[13:44] {Les} well, death isn't funny
[13:44] {nemo} not necessarily bad if it's quick
[13:45] {dino} takes care of worries
[13:45] {Les} Australia went from surplus to deficit to install dodgy insulation and now must remove or repair it
[13:45] {nemo} friend of mine who saw alot of combat said: Dead=good half-dead=not good
[13:46] {dino} tho l ave .20
[13:47] {Les} only a few billion mispent in oz. wonder how much lost in US?
[13:47] {nemo} you have dcc les
[13:47] {nemo} defensive aren't you
[13:50] {Threei} this is what comparison of stupidity of diff governments gets you:
[13:52] {fernp} ufff! it is very nasty
[13:52] {Threei} that's the point
[13:53] {Threei} trying to get a feel for OCLS
[13:53] {Threei} bottom or death
[14:03] {Les} db for ITMN
[14:05] {dino} psys
[14:05] {Les} crap ocls not shortable
[14:07] {Threei} it is here
[14:08] {dino} nav sm l .76
[14:09] {Threei} General Motors Corp CEO states GM is back on growth path, still believe GM can repay its govt loans by June
[14:09] {Threei} - CEO says "Job harder than I thought", GM has a lot of issues.
[14:09] {Threei} ***Reminder: On 12/15 GM Chairman Whitacre said he plans to repay govt funds by the end of June (GM's current TARP funds approx $20.64B).
[14:12] {Les} aig
[14:13] {magoo} yea AIG
[14:16] {Les} l .66
[14:16] {magoo} me too
[14:17] {magoo} if IF mkt launches it could go to its day high
[14:17] {magoo} might rinse tho
[14:18] {magoo} psys HALT
[14:19] {Threei} PSYS Halted; news pending (28.35, +4.44, 18.57%)
[14:20] {larisa} I missed it, it moved on no news?
[14:21] {magoo} aig stop is .48
[14:21] {magoo} might reload if holds 35
[14:21] {magoo} not stopped yet
[14:23] {fernp} Good evening everybody. See u all tomorrow
[14:23] {Les} ciao fern
[14:24] {Threei} take care fern
[14:24] {Les} and stopped
[14:24] {Threei} larisa,
[14:24] {Threei} 12:53 [PSYS] Holding buyout talks with Bain Capital and other private equity firms; PSYS seeking 25% premium (closed on 3/9 at $23.91/shr) - WSJ, citing sources
[14:27] {larisa} ty vad
[14:29] {Threei} always
[14:32] {magoo} reloaded AIG, stop under fitty
[14:37] {magoo} grrrrrr
[14:37] {Les}
[14:38] {magoo} my KCI short Awesome
[14:38] {Les} waiting till it clears this mess with vol
[14:40] {Les} ITMN back to 38. no db
[14:41] {dino} gj kci
[14:41] {dino} trail hard bstop
[14:47] {Threei} best news I read today:
[14:47] {Threei} Charlie Sheen is set for Two and half Men return
[14:47] {magoo} long AIGF .53
[14:47] {Les} l aig .56. stop .50
[14:48] {magoo} gonna try and leyt it run
[14:48] {Les} looking better now
[14:48] {Les} stopped
[14:49] {Les} there goes ITMN
[14:49] {Threei} 6 cents stop on AIG?
[14:49] {Threei} that'll never work
[14:49] {Les} so call me a tight ass
[14:49] {Les} I get your point
[14:51] {dino} funny show that 2 1/2
[14:51] {nemo} 2 1/2 men?
[14:51] {nemo} hilarious
[14:51] {dino} one of the best
[14:51] {Threei} I knew I'd find comrades
[14:51] {Les} you mean with with the baby?
[14:51] {Les} 3 men and a baby?
06[14:51] * nemo slaps Les around a bit with a large trout
[14:52] {RonS} Berta
[14:52] {dino} candy was something
[14:52] {nemo} can't remember them all
[14:52] {Threei} Berta, how do you wash my underwear? - As everything I do around here... with love in my heart and song on my lips
[14:54] {nemo} I like the one where Charlie is the human "sacrifice" at the witches coven
[14:55] {dino} all are funny
[14:55] {RonS} Angus T Jones
[14:56] {dino} magoo tell me you covered kci around 48.50
[14:59] {dino} mos vs pot disconnect lately
[15:00] {dino} osip
[15:01] {dino} back in 10
[15:03] {Threei} US Senate approves jobs bill valued at approx $150B, measures go to House; closes Black Liquor loophole
[15:03] {Threei} - delays medicare cuts for Doctors until Oct 1
[15:03] {Threei} - closes black liquor loophole
[15:03] {Threei} - bill brings back $25B in tax breaks that had expired
[15:11] {dino} abvt
[15:12] {Raven} black liquor loophole ?
[15:13] {Threei}
[15:13] {Threei} The alternative fuel credits were expected to cost the federal government $61 million a year in lost taxes, but that was before pulp and paper companies started applying. A cost estimate being circulated among lawmakers by the nonpartisan Joint Committee on Taxation now puts the price tag at $3.3 billion. There is also the issue of the loss of tax revenues at a time when the federal deficit is already expected to be $1.8 trillion this year.
[15:14] {dino} abvt sm l .47
[15:14] {Raven} sigh ... I was hoping for RUM
[15:16] {dino} been hoping for a shock top myself
[15:17] {Raven} shock top ?
[15:17] {Threei} I am scared even to guess
[15:17] {Raven} strange jargon here
[15:17] {dino} beer
[15:18] {Raven} never heard that one
[15:18] {magoo} l AIG .50
[15:18] {magoo} worth aniother
[15:18] {magoo} right time of day
[15:18] {Les} yeh. pivot resistance .54.
[15:19] {Les} I did get to short it first time it dropped. second time shares were unavailable. sheesh
[15:21] {magoo} i'd bet vads left n@t it breakes thru 36 :)
[15:22] {dino} abvt stopped -.35
[15:24] {Les} wow ITMN finally caved in
[15:25] {magoo} your family jewels are safe vad lol
[15:25] {Threei} whew
[15:25] {Threei} PSYS Confirms Approach from Third Parties Regarding Potential Sale
[15:25] {Threei} - approached by third parties in connection with a potential acquisition of PSI. In order to conside... (28.35, +4.44, 18.57%) more...
[15:26] {magoo} i hope u went LES
[15:26] {Les} crap. why is it always on the toile break
[15:26] {magoo} we got to remember time of day
[15:27] {Les} screwed it good and proper
[15:27] {magoo} im lettuing it run
[15:27] {magoo} to the moon
[15:28] {magoo} well...36.67 are
[15:28] {magoo} are=area
[15:28] {magoo} well out
[15:28] {magoo} loss of 36
[15:28] {dino} kci s .45\
[15:28] {magoo} + .48
[15:29] {magoo} back in
[15:30] {magoo} .98
[15:31] {magoo} stopped
[15:31] {magoo} .79
[15:31] {magoo} im still rusty
[15:32] {magoo} futes killed it too
[15:32] {magoo} whos this magoo who wont stop typing ?
[15:32] {Les} I had a go, but was buying the top. screwed it
[15:35] {dino} cov kci .35, +.10
[15:36] {magoo} its gonna run imo
[15:36] {magoo} careful..its toughie
[15:40] {Threei} narrow day again
[15:41] {Threei} TM Ahead of schedule on completion of recalls in Japan - Nikkei news (76.27, -0.41, -0.53%)
[15:43] {Threei} OCLS... to take home or not
[15:43] {magoo} aig 36.87 area
[15:43] {Les} why .87?
[15:43] {magoo} just a target
[15:44] {magoo} watch
[15:45] {magoo} c'mon take fitty
[15:45] {dino} psys open
[15:46] {magoo} there .50
[15:46] {dino} cedc rockin'
[15:46] {magoo} dam .50 clubbed it
[15:48] {magoo} heres the the play, take .50 and stay above and .90 area
[15:48] {magoo} no good there
[15:49] {Les} out flat this last scalp .25 try agin
[15:49] {magoo} if in .25 can wait at .47...needs .50
[15:50] {dino} 10 minutes
[15:52] {magoo} now or never
[15:52] {Threei} you guys live for troubles eh?
[15:52] {Threei} OCLS gave nice and easy scalp of .60
[15:52] {magoo} plenty of time vad
[15:52] {dino} is there any other way
[15:53] {Threei} but no, you need to mess with this crazy thing
[15:53] {nemo} new high close on spy?
[15:53] {dino} lol
[15:53] {magoo} go gio
[15:53] {magoo} go
[15:53] {magoo} .87 baby
[15:53] {magoo} [15:49] {magoo} if in .25 can wait at .47...needs .50
[15:54] {magoo} c'mon
[15:54] {dino} nav out ave +.17
[15:54] {magoo} c'mon
[15:54] {Les} hey its fun to learn vad
[15:55] {magoo} waiting .87
[15:57] {Les} made .80
[15:57] {magoo} i saw .79
[15:58] {Les} ok. just looking at chart
[15:58] {magoo} i saw them scolling
[15:58] {Les} scolling?
[15:58] {magoo} scrolling
[15:58] {Threei} okay guys
[15:58] {Threei} thank you all
[15:58] {Threei} winning steak contionues
[15:58] {Les} thank you
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {magoo} ty
[15:59] {Les} a demain
[15:59] {dino} gn all, good time