Tuesday, March 16, 2010

Mar 16 2010

Not too many trades as we retreated into inactivity closer to FOMC time. Profits are steady though: one stop on RIMM, profitable trades on FCX, WATG, UAUA and a few discretionary ones. Swing entry from yesterday on VISN worked too.

Session Time: Tue Mar 16 00:00:00 2010

[08:03] {nemo} Hey Birdman
[08:05] {Raven} mornink
[08:12] {Threei} IVAN Receives exceptional log and core results from its first oil well on Block 20 in Pungarayacu, Ecuador (3.79, 0.00, 0.00%)
[08:17] {Threei} (US) Preview: Feb Housing Starts data due out at 8:30am ET
[08:17] {Threei} - Housing Starts: Consensus expectations are 570Ke; The prior number was 591K (analyst range of estimates 510K to 610K).
[08:17] {Threei} - Building Permits: Consensus expectations are 601Ke; The prior number was 622K (analyst range of estimates 550K to 635K)
[08:17] {Threei} US) Preview: Feb Import Price Index due out at 8:30am ET
[08:17] {Threei} - MoM: -0.2%e v 1.4% prior
[08:17] {Threei} - YoY: 11.3%e v 11.5% prior
[08:18] {Threei} NVS
[08:18] {Threei} Novartis AG Exploratory trial shows no incremental benefit of aliskiren add-on therapy in improving changes to cardiac shape in heart attack patients; will not pursue outcome trial
[08:30] {Threei} *(US) FEB IMPORT PRICE INDEX M/M: -0.3% V -0.2%E; Y/Y: 11.2% V 11.3%E
[08:30] {nemo} must have been good housing
[08:31] {Threei} hmmm
[08:31] {Threei} no housing
[08:31] {Threei} ahha
[08:31] {Threei} *(US) FEB HOUSING STARTS: 575K V 570KE; BUILDING PERMITS: 612K V 601KE
[08:32] {nemo} ahha
[08:40] {strider} out BSX +.12 from overnight
[08:41] {Threei} why not
[08:41] {strider} morning
[08:41] {strider} holding VISN from 5.11
[08:41] {Threei} hi :)
[08:41] {Threei} little regret about not taking IVAN overnight
[08:42] {Threei} had strong feeling about it
[08:42] {Threei} VISN, to me at least, is not a gap play
[08:42] {Threei} rather swing trade
[08:42] {strider} I agree.
[08:42] {Threei} meaning, I wouldn't dump it into smallish gap
[08:43] {strider} yeah. thx.
[08:43] {Threei} just manage risk according to YOUR specuifications, not mine :)
[08:43] {Les} sounds good. will look for an entry on VISN today
[08:43] {Les} afternoon all
[08:45] {strider} morning, les.
06[08:46] * nemo slaps Les around a bit with a large Tooheys
[08:47] {Threei} les :)
[08:47] {Les} bit early in the morning for that Nemo
[08:47] {nemo} not for you
[08:47] {Les} for you, anyway
[08:47] {nemo} I drink on GMT +1
[08:53] {Threei} US) Senator Corker (R): odds are very high that financial reform bill gets passed this year, but passing it out of committee within a few weeks is too rapid a pace
[08:53] {Threei} here comes better gain on VISN
[08:54] {Threei} - says he was a little taken aback by Senator Dodd deciding to go it alone with his own bill
[08:54] {Threei} hard to imagine more dysfunctional entity
[08:56] {nemo} the legislation is lobbyist lipstick on a pig
[08:58] {dino} gm all
[08:58] {Threei} dino :)
[08:59] {dino} vad, fwiw, vxx issues, barclays has acknowledged that if the vxx drops below 25, it can execute a reverse 4 for 1 split
[08:59] {Threei} huh
[09:00] {Threei} that influences players intentions, doesn't it
[09:00] {Les} meaning they'd like to see the reverse split?
[09:00] {Threei} why 25... most of them did split when they were way below 10
[09:00] {dino} dk, just letting you know
[09:00] {Threei} ty
[09:01] {Threei} weirdos
[09:01] {dino} np
[09:01] {Threei} nemo, I have some numbers from Poland, want them?
[09:01] {nemo} ?
[09:02] {Threei} you seem to be really entertained by data from Poland
[09:02] {nemo} ?
[09:02] {Threei} thought maybe I'd make you laugh
[09:02] {nemo} ?
[09:02] {Threei} sheesh... stop ?ing me, you said not once that there was something funny about it
[09:03] {dino} fed day
[09:03] {nemo} now that's funny
[09:03] {Threei} ok, never mind... never again will you get from me any polish numbers
[09:03] {nemo} I'm devastated
[09:03] {Threei} there, that'll show you
[09:04] {Les} Oh Nemo just take the bloody Polish numbers and be greatful, ok!
[09:05] {nemo} frickin' gang up on nemo day..wtf
[09:05] {Threei} yeah, that's a big nivelty, eh?
[09:05] {Threei} on FOMC...
[09:06] {nemo} true, we'll likely be rather board this morning
[09:06] {Threei} rate doesn';t matter of course, everyone knows it won't be changed
[09:06] {Threei} language is major focus
[09:06] {Threei} and IMO, they'll be as restrained and vague as possible
[09:06] {Threei} there are times when they want to send certain message
[09:07] {dino} they will not raise them in 2010, that is my bet
[09:07] {Threei} today they will want to say as little as possible
[09:07] {dino} until umemployment gets under 7.5%
[09:08] {Threei} or inflation threat becomes so evident that uproar goes beyond what they can afford p;olitically
[09:10] {nemo} something's up look at gold this morning
[09:12] {Threei} MNKD Does not believe issues raised in FDA Complete Response letter will adversely affect Afrezza
[09:12] {Threei} - Still plans to launch Afrezza in 2011 (7.89, 0.00, 0.00%)
[09:13] {nemo} yep, gold running
[09:14] {Threei} - " As recommended by the FDA, we will request an End-of-Review meeting with the agency to discuss our approach for resolving the remaining issues. Prior to this regulatory action, our plan had been to follow the original NDA for AFREZZA with another regulatory submission for our next-generation inhaler rather than launch AFREZZA with the MedTone device. We intend to discuss with the FDA whether it is appropriate to address the agencys requests using what would otherwise have been a supplemental NDA submission. If this approach is acceptable, we believe that this regulatory action may not have a significant impact on the timing of the commercial launch of AFREZZA, which would not have occurred until at least 2011 in any event."
[09:14] {dino} sqnm, athn
[09:15] {jfjf64} mornin
[09:16] {Les} hey jf
[09:16] {Threei} jf :)
[09:16] {Threei} jf, look dcc pls
[09:16] {Threei} SQNM just can't catch a break
[09:16] {Threei} thing barely started recovering
[09:17] {jfjf64} dcc
[09:17] {Threei} private message
[09:17] {Threei} look for a button with my name on it
[09:17] {jfjf64} how please
[09:17] {Threei} click on it and read the message in there, type in there to answer
[09:17] {Threei} upper bar, where you see channel names
[09:18] {Threei} #floor, #discussions
[09:18] {Threei} Sequenom, Inc Reports Q4 -$0.30 v -$0.25e, R$10.8M v $9Me
[09:18] {Threei} - Gross margin 50.5% v 59.5% y/y
[09:18] {Threei} (US) Congressional Aid: Repoteldy US Senate to threaten penalities on China if it does not alter valuation for Yuan
[09:21] {Threei} - Reminder: Yesterday 130 members of the US House of Reps have requested US Treasury Sec Geithner name China as a currency manipulator in the upcoming report in April
[09:22] {dino} athn strange restates 3 years, misses rev and pops
[09:23] {Threei} AthenaHealth, Inc. Reports Q4 $0.17 v $0.17e, R$54.4M v $55Me
[09:23] {lasertrev} morning
[09:23] {Threei} imagine if they said they just found out they had no revenu for the last 10 years at all? stock would have been in 80s already
[09:23] {Threei} trev :)
[09:24] {Threei} QCOR FDA schedules advisory panel meeting on application to sell Acthar gel for treating infantile spasms (6.75, 0.00, 0.00%)
[09:25] {Threei} too bad volume is next to nil... daily is nice for a break of 7
[09:29] {dino} athn gap around 42
[09:31] {Les} MNKD defending 8 again
[09:31] {Threei} RIMM, looking for reversal
[09:31] {Threei} half lot
[09:31] {Threei} .40
[09:31] {Threei} stop under .30
[09:32] {Threei} no go
[09:32] {dino} dsw
[09:32] {nemo} aig momo
[09:33] {dino} cnx off of .50 may move upgraded
[09:33] {dino} nah, dropped
[09:33] {fernp} Good morning everybody
[09:33] {Threei} fern :)
[09:33] {Les} hi fern
[09:34] {fernp} Les :-)
[09:34] {Threei} ISTA FDA posts warning letter on misleading marketing materials for XIBROM
[09:34] {Threei} Division of Drug Marketing, Advertising, and Communications (DDMAC) has reviewed a professional sale... (3.85, +0.03, 0.79%) more...
[09:35] {dino} dsw interesting
[09:35] {dino} 25 area strike calling
[09:36] {Threei} Long Setup: CAT .60 half lot
[09:36] {dino} sm l .88 wide risky
[09:36] {Threei} if holding above .45
[09:37] {Threei} invalidated
[09:37] {nemo} FOMC day.yahoo
[09:37] {Threei} may turn into double bottom but let's give it a few to consolidate
[09:38] {Threei} so setup .40 - .50 would establish
[09:38] {Threei} valid now
[09:40] {Threei} and not
[09:40] {dino} out dsw .48, +.60 ty ron for yesterday heads up
[09:41] {Threei} RIMM rinse
[09:41] {RonS} yw
[09:42] {Threei} actually, unusually strong now
[09:42] {Threei} RIMM
[09:42] {Threei} CAT, should have faded hat .40 invalidation
[09:42] {dino} cfsg
[09:43] {Threei} ISTA is seriously weird
[09:44] {Threei} FDA warning letter, it goes up?
[09:45] {Threei} CAGC...
[09:45] {Threei} maybe your client dino
[09:47] {RonS} clf jumped on big vol
[09:47] {KSystems} boo
[09:47] {Threei} ks :)
[09:47] {dino} yuii sm l .65
[09:47] {Threei} WATG
[09:48] {Threei} momo candidate on 11 break
[09:48] {Threei} risky as trying to taake my morning bacon
[09:48] {dino} takeover rumors on friday, cagc
[09:50] {Threei} RIMM deep pullback
[09:52] {Threei} HOG Hearing takeover chatter
[09:52] {Threei} - Hearing unconfirmed chatter HOG has been approached by private equity groups
[09:52] {Threei} - KKR is rumoure... (26.82, +0.32, 1.21%) more...
[09:53] {magoo} morning
[09:53] {Threei} mags
[09:53] {Les} hi mags
[09:53] {Threei} Long Setup: RIMM .35 break half lot
[09:53] {Threei} if stays above .20
[09:54] {nemo} .20 is pivot support, depending on how it get's there...if it loses, might be worth a short
[09:55] {Les} BSX consolidating under 7
[09:55] {Threei} let's change to .30 break
[09:56] {Threei} invalidated
[09:58] {RonS} hog wild
[09:58] {strider} takeover chatter:HOG
[09:58] {Les} going Japanese, is it?
[09:58] {Threei} Long Setup: FCX 82 half lot
[09:59] {Threei} if stays above .85
[09:59] {Threei} hesitated to call RIMM again on .20 break...
[10:00] {Threei} (US) Obama Aide: US unemployment may remain elevated for some time
[10:00] {Threei} you don't say
[10:01] {Threei} - Reiterats 3% GDP growth and 4.3% for next two years
[10:01] {fernp} SBUX .20 break, Vad?
[10:01] {Threei} FCX 1:1
[10:02] {Threei} can do more I think
[10:02] {Threei} but let's control risk
[10:02] {Threei} half out .19
[10:02] {Threei} yes fern
[10:02] {strider} out +.23
[10:02] {Les} .22 for me ty
[10:02] {fernp} ty
[10:02] {Threei} offering second half .32
[10:03] {Threei} out
[10:04] {Threei} forget it fern
[10:04] {fernp} i did it
[10:04] {Threei} formed nice chart and fizzled out
[10:04] {dino} cagc sm l .51
[10:05] {fernp} watching MWW
[10:07] {Threei} BTIM Ticks higher after CNBC teases upcoming segment featuring the CEO (7.90, +2.10, 36.21%)
[10:07] {Threei} bagholders are lining up now
[10:07] {Les} wonder if my ugly mug on TV could change the fortunes of company i designate?
[10:08] {nemo} break the TV maybe...
[10:09] {dino} strl -5 in day and half
[10:10] {fernp} BRCM long, Vad?
[10:11] {nemo} fcx has that climber look
[10:11] {Threei} not sure fern...
[10:12] {Threei} looks right,
[10:12] {Threei} but most of them so far are fzzling out today
[10:12] {fernp} i see. ty
[10:12] {Threei} BTIM started its bagholder-making mission
[10:12] {Threei} works every time...
[10:13] {Threei} are you looking for pullback entry on it nemo?
[10:13] {nemo} would be on the trend line right now around .10
[10:16] {Les} MNKD doing its breakdown routine again
[10:17] {fernp} USB 26 break, Vad?
[10:18] {Threei} very much so
[10:19] {Threei} UAUA
[10:19] {Threei} this thing irritates me to no end, lol
[10:19] {jfjf64} grrrrrrr
[10:20] {Threei} USB, don't expect it to be fast but if triggers, can do nice move
[10:20] {Threei} UAUA, watch if pulls back into .20
[10:23] {Threei} let this USB pullback to show the support for a stop placement,
[10:24] {Threei} then if triggers, watch for matket help to decide, take scalp or let ir run
[10:24] {Threei} with market help, capable of 30-40 cents move
[10:24] {dino} clne spike
[10:24] {fernp} ok
[10:25] {jfjf64} ya dino 1 sec late to danceeeeeeeeeeeeeee
[10:25] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrrrrr
[10:25] {jfjf64} luv that setup cup
[10:26] {dino} amsc getting tagged, 2 days -3+
[10:26] {Threei} AMSC Citron Research releases report
[10:26] {Threei} - feels AMSC has larger proportion of revenues in one customer (27.20, -0.94, -3.34%)
[10:27] {dino} "feels", is that the new politically correct way to state a fact
[10:27] {nemo} has been since the 70's
[10:27] {dino} lol
[10:28] {Les} don't kill the goose that lays the gold egg
[10:28] {Threei} Citron is a former stocklemon
[10:28] {Threei} shorting outfit
[10:28] {nemo} ha ha ha ha
[10:28] {nemo} Citron...lemon
[10:28] {Les} duh
[10:28] {dino} citron vodka
[10:29] {Threei} - Citron sees a separation between what its customer has ordered and what the customer is actually using
[10:29] {Threei} BRKR
[10:29] {Threei} near 52 week high
[10:31] {strider} out
[10:31] {strider} BRCM +.22
[10:31] {Threei} anyone here wants to buy a Puerto Rican Bank?
[10:31] {Threei} Reportedly the FDIC is seeking buyers for three Puerto Rican Banks (related BPOP )
[10:31] {Les} spanish required?
[10:31] {jfjf64} if we hd ya cash why not
[10:32] {magoo} id like to buy a puerto rican babe
[10:32] {strider} nemo and I can furnish the weapons.
[10:32] {Threei} UAUA
[10:32] {Threei} let' see if we get antry here
[10:32] {Threei} entry too
[10:32] {Threei} .25 break
[10:33] {Threei} if stays above .15
[10:34] {strider} long .25
[10:36] {magoo} yep
[10:41] {Threei} LLNW Hearing Jefferies comments that Akamai deal with Netflix is a negative for LLNW (timing uncertain) (3.83, -0.06, -1.54%)
[10:41] {Threei} Market Internals update at 10:30amET
[10:41] {Threei} - NYSE volume 190M shares, about 22% below its three-month average; advancers lead decliners by 1.4:1.
[10:41] {Threei} - NASDAQ volume 480M shares, about 6% below its three-month average; decliners lead advancers by 1.1:1.
[10:41] {Threei} - VIX index -0.5% to just under 18.00
[10:43] {Threei} Intel Corp Strength attributed to positive analyst note from BoA/Merrill (timing uncertain)
[10:43] {Threei} - hearing Merrill speculates Intel could issue a positive pre-announcement
[10:43] {Les} cal/dal dropping
[10:47] {Threei} (EU) ECB's Strak: Recovery in the Eurozone remains on track but remains fragile; Timely exit plan from stimulus will be important
[10:47] {Threei} - Problems with Greece show that tougher fiscal rules are needed
[10:47] {Threei} - Crisis is not over, future set backs can not be written off
[10:47] {Threei} - Expects subdued infaltion for period of time, sees near term inflation levels at 1%
[10:47] {Threei} - Does not advocate boosting ECB inflation targets
[10:50] {Threei} FNGN IPO opens for trade at $15 (15.27, 0.00, 0.00%)
[10:50] {Threei} [FNGN] Financial Engines
[10:51] {nemo} MGM looks interesting
[10:52] {Threei} if you want to be stingy, trail UAUA to under .20
[10:53] {Threei} considering that we are moving closer to FOMC, probably makes sense
[10:53] {strider} short KLAC .74
[10:55] {Threei} (EU) EU's Monetary & Affairs Commissioner Rehn: Greece "not out of the woods" just yet;
[10:55] {Threei} - Unsustainable deficits must be prevented
[10:55] {Threei} *(GR) S&P AFFIRMS GREECE RATING
[10:56] {nemo} mgm long .87?
[10:56] {Threei} I am more of LVS fan...
[10:56] {nemo} no accounting for taste
[10:56] {dino} cfsg l .00
[10:57] {magoo} futes going
[10:57] {Threei} UAUA 1:1
[10:57] {Les} ty
[10:57] {Threei} yw
[10:57] {strider} out +.12
[10:58] {jfjf64} i forgot bout uaua ty
[10:58] {Threei} lol
[10:58] {Threei} see how stess-free my calls are?
[10:58] {magoo} this is true
[10:58] {Threei} you can frget you have open position, and still profit
[10:58] {nemo} may speak more to forgetfulness moth brain
[10:58] {magoo} i was watching aig thinking it was my uaua
[10:59] {Threei} of course nemo, but let us enjoy the moment
[10:59] {nemo} sure
[10:59] {strider} stop KLAC -.12
[10:59] {Threei} (US) Treasury Sec Geithner: No chance the US will lose its AAA rating; political will is needed to cut deficits
[11:01] {fernp} USB Vad
[11:01] {fernp} Valid?
[11:01] {Threei} chart wise, yes...
[11:01] {Threei} I am a bit concerned about its speed
[11:01] {fernp} ok
[11:01] {Threei} normally, slow one would be fine,
[11:01] {Threei} but we are going to lose activity very soon
[11:02] {Threei} with FOMC
[11:02] {Threei} so, I am a bit put off by possibility to get in, get stuck till FOMC because of its slowness, then be a subjkect of wild whipsaws
[11:03] {fernp} i understand
[11:03] {strider} when is FOMC?
[11:03] {Threei} 2:15
[11:17] {magoo} .
[11:20] {Threei} NKE Trades near session highs as CNBC report gives further confirmation that Tiger Woods will return to golf for The Masters in April (70.85, +0.46, 0.65%)
[11:24] {jfjf64} wonder if wife traveling with him
[11:25] {Les} hehehe
[11:30] {strider} out VISN .25, +.14
[11:30] {magoo} i heard he will have a multiple blonde women caddies
[11:31] {Les} db CAGC or death?
[11:31] {dino} sweet
[11:31] {Threei} death les
[11:31] {Threei} IMO
[11:31] {magoo} aig well off the high
[11:32] {Les} good. s CAGC .48
[11:32] {Threei} I think it's going lower mags
[11:32] {magoo} yea...surely can
[11:34] {Threei} 48 out of 54 economists say stimulus was positive for US economy
[11:34] {Threei} here comes CAGC
[11:34] {Threei} and AIG :)
[11:34] {Les} and out +.32
[11:35] {jfjf64} nice wk les
[11:35] {Les} if you can get it jf
[11:35] {dino} cagc stopped
[11:35] {Threei} ugh... sorry dino, didn't realize you were long
[11:36] {dino} not your fault
[11:36] {Threei} no, I'd just have wiped that smirk off my face
[11:36] {dino} np
[11:36] {Les} dino had me sweating when he went long, I was already short
[11:37] {Threei} and I missed both your posts so just expressed my take on the stock... ignorance IS blisss
[11:39] {Les} I didn't post it. don't want people following my tomfoolery
[11:39] {dino} well, dumb dumb that i am, had .30 on it
[11:40] {Les} the long was the right call at the time
[11:40] {dino} greed got me
[11:40] {Les} as CAGC failed to breach .75, I felt more comfortable
[11:41] {Les} wow
[11:41] {Les} CAGC
[11:42] {Les} the DSW long was masterful. I was caught wrong side of that
[11:43] {dino} cagc most likely to high 25s then bounce
[11:43] {Les} athn got my attention now short side
[11:43] {Les} too late
[11:45] {Threei} RIMM Hearing Canaccord Adams making cautious comments (timing uncertain)
[11:45] {Threei} - note: Canaccord has a Buy rating on RIMM (74.69, -0.85, -1.13%)
[11:46] {Threei} GAZ...
[11:47] {Threei} tempting short chart wise, hate volume
[11:48] {Threei} scanners capitulation wndow is fully occupied by CAGC, lol
[11:48] {fernp} SDS breakdown, Vad?
[11:48] {Threei} well... that would be a play for market breakout
[11:49] {Threei} you feel like this is what is going to happen?
[11:49] {fernp} i feel nothing :-)
[11:49] {Threei} lay off that vodka, will ya :)
[11:49] {fernp} lol
[11:49] {fernp} i'll pass SDS
[11:50] {Threei} I think so...
[11:50] {Threei} I'd pass on breakout at this point
[11:50] {fernp} true
[11:50] {Threei} lol, now AIG joined CAGC in capitulation window
[11:51] {Threei} btw, forgot to ask, anyone went erlier for that momo break on WATG?
[11:51] {Les} n
[11:52] {Threei} gave nice spike after break, before fizzling out
[11:52] {Threei} BSX FDA staff issues executive summary on Expanded Indications for CRT-D based on MADIT-CRT Study
[11:52] {Threei} FDA
[11:52] {Threei} does not have any serious concerns regarding the design of the study. The sponsor
[11:52] {Threei} met with FDA during the design of the trial and incorporated FDA's feedback before
[11:52] {Threei} initiating the trial. Some modifications were made to the study protocol during the
[11:52] {Threei} study, but these changes were relatively minor in nature and did not affect the
[11:52] {Threei} primary safety or primary effectiveness outcomes.
[12:01] {Les} l cagc .64
[12:03] {Les} out .76
[12:04] {Les} vxx .45 break?
[12:04] {Les} betting on a b/d
[12:07] {Threei} I wouldn't
[12:07] {Les} ok
[12:09] {nemo} It's likely to get a tad hairy to play much of anything now
[12:10] {Les} I like it hairy
[12:10] {strider} too much information.
[12:10] {nemo} I ain't bitin'
[12:10] {Les} :O
[12:13] {Les} athn rinsed my short and then collapsed. SOB
[12:18] {nemo} sucks you can't short aig
[12:20] {magoo} looks like 33.50 area coming
[12:23] {fernp} FAZ .45 break? double bottom?
[12:23] {nemo} lunchtime FOMC break fern?
[12:24] {fernp} ty nemo
[12:24] {nemo} just a thought...
[12:25] {fernp} 5c stop... small shares... worth a try
[12:26] {nemo} if fas drips below .90, yeah
[12:28] {magoo} wfc may be bounce ready..not in
[12:30] {nemo} fas bounced right off that .90 support
[12:34] {Threei} careful guys... we are in a bery narrow range
[12:34] {magoo} bery"
[12:34] {Threei} this is Rinse Incorporated
[12:34] {nemo} or Roto-rooter
[12:34] {Threei} or that
[12:35] {Threei} Dendreon Corp Exec: Expects to be shipping commercial product in first half of 2011 (assuming FDA approves Provenge) - Roth conf
[12:35] {Threei} - Expects to be cash flow positive in 2011.
[12:35] {Threei} - Developing pipeline, will roll out new products every year between now and 2012.
[12:35] {Threei} - Reiterates looking to commercialize Provenge on its own, find international partners. Signing partners for distribution.
[12:35] {Threei} - Developing three manufacturing plants now.
[12:35] {Threei} ***Reminder: On 9/24/09 DNDN said it was still looking for an overseas partner, will sell the product itself in the US.
[12:35] {Les} fas demonstrating the principle perfectly
[12:35] {nemo} how so Les?
[12:35] {Les} the rinse. someone was long fas?
[12:35] {nemo} who?
[12:36] {Les} whatever. huge drop in last two bars on fas
[12:36] {nemo} you in faz fern?
[12:38] {fernp} yes
[12:38] {nemo} :)
[12:38] {fernp} .46
[12:38] {Threei} your 5 cents have arrived
[12:39] {fernp} i know you hate me :-)
[12:39] {Threei} why would I
[12:39] {nemo} not to be a (insert favorite perjorative noun here) why not short FAS?
[12:39] {Threei} I am all for 5 cets here and there... just gotta play serious shares to make it worthwhiel
[12:39] {nemo} you mean.......ese shares?
[12:40] {fernp} FAS stops too wide for me
[12:40] {Threei} wel... at least half ese, lol
[12:40] {fernp} I prefer FAZ
06[12:42] * nemo slaps Threei around a bit with a large trout
[12:42] {nemo} fas bounce/faz drop here?
[12:42] {Threei} why, oh why
[12:42] {nemo} because you can't in dcc
[12:43] {nemo} yo rinny!
[12:46] {Les} got luck on ATHN +.31
[12:48] {Les} mnkd threatening b/d. short. 87
[12:57] {Les} ITMN ready for b/d
[13:01] {nemo} fcx: can you say bear trap?
[13:02] {nemo} ?
[13:02] {Les} DSW wants up. is that a bull flag?
[13:03] {Threei} IMO{ you guys are trying to find a pattern where there is none
[13:03] {Threei} it's random noise right now
[13:04] {nemo} looked for can't be seen, listened for...
[13:04] {Threei} there is no method for this madness
[13:12] {Threei} Preview: FOMC rate decision due out around 14:15ET
[13:12] {Threei} ***The FOMC is expected to hold rates again today and will likely maintain its "extended period" language after making two significant adjustments since the last meeting. First, at the Jan 27 meeting, Kansas City Fed President Thomas Hoenig raised a dissent against the "extended period" language, stating that economic and financial conditions have improved enough that language was no longer warranted. Then on Feb 18, the Fed raised the Discount rate 25 bps to 0.75%, but couched it as a move toward "normalization" that does not reflect a change in policy outlook. Its likely the FOMC is allowing these changes to sink in and won't move again so soon, particularly as economic over the last six weeks has been tepid.
[13:13] {magoo} aig bouncer vad?
[13:13] {nemo} I wonder if they'll keep the comma, or go to a semi-colon?
[13:14] {Threei} mags, yes, but I doubt I can get a reliable read on it
[13:15] {Les} mnkd stopped
[13:22] {dino} throwing tbt tlt on scanner
[13:28] {Threei} AIG, wanna try and short .50 break?
[13:28] {Threei} or it's still unavailable?
[13:28] {Threei} yeah
[13:30] {Les} watching it. don't know if I can short it here
[13:30] {Les} I can
[13:33] {Threei} so do
[13:33] {Threei} fair setup
[13:33] {Threei} stop tight enough
[13:34] {Threei} Honda brake recall
[13:34] {dino} wx
[13:34] {Threei} Odyssey and Element
[13:34] {Threei} no acidents, customers complain about "feel of pedal"
[13:35] {Les} :)
[13:35] {dino} too fast wx
[13:35] {Les} don't like feel of this chat room. recall and refund an option?
[13:35] {Threei} me thinks younder customers complain too much
06[13:36] * nemo slaps Les around a bit with a large pick axe
[13:36] {dino} tired of all this "feel" talk from everybody
[13:36] {strider} well, dino--how does that make you feel?
[13:37] {strider} :)
[13:37] {nemo} can't read strider
[13:37] {dino} today, no feel, lol
[13:37] {nemo} I thought you said you were tired
06[13:37] * Threei puts Les in nearest Prius, chains him to the headrest, inserts 2x4 between driver's seat and gas pedal, saws brake pedal off...
[13:37] {dino} tired, yes, indeed
[13:37] {nemo} near the matterhorn Vad
[13:37] {Les} ouch. don't feel like that...
[13:37] {nemo} either that, or run him into Lake Geneva
[13:37] {Threei} how do you feel NOW?
[13:38] {Les} no feeling left
[13:38] {Les} I feel like a beer
06[13:38] * Threei shares beer with dino why both opbserve Les's Prius disappearing in the perspective
[13:38] {Threei} why = while
[13:39] {Les} oh and here I though you were getting philosophic
[13:39] {Threei} I am
[13:39] {Threei} beer is philosophy
[13:39] {nemo} Philosophy of mayhem
[13:39] {Threei} and proof of heavens loving us
[13:40] {dino} bye bye les (no les, no more)
[13:41] {Threei} now, since we are on the subject of feelings and philosophy:
[13:41] {Threei} 'Of what use is a philosopher who never hurts anyone's feelings?'
[13:41] {Threei} Diogenes the Cynic, 300 BC.
[13:42] {nemo} look what it got Socrates...a strong cup of tea
[13:42] {strider} Problems begin when people have their ideas wired to their pheelings.
[13:43] {nemo} No shit...my ex blamed her weight gain on me, go figure
[13:45] {strider} So, has she lost the weight, now that you're not around?
[13:45] {nemo} of course not...gotten heavier actually
[13:45] {strider} That's your fault , too.
[13:45] {nemo} Yeah, I'm not there
[13:47] {Threei} well, classic line on that must be my wife's, contemplatively, when talking about some unplesant event beyond human control: Somehow it must be your fault... no idea how but it just must be
[13:48] {strider} MannKind mentioned cautiously at Oppenheimer
[13:48] {strider} Oppenhimer believes MannKind's conference call raised more questions than answers and that a capital raise is imminent for the company. The firm estimates shares are worth $2 and keeps an Underperform rating on the name. :theflyonthewall.com
[13:48] {Les} thanks. scalping it on the way back down. owes me money
[13:53] {Les} out aig +.07. had to chase a little. watching if this bounce is prelude to another drop
[13:54] {Les} aig long?
[13:55] {Threei} why?
[13:55] {Les} big vol going long. thinking reversal and long at .50
[13:56] {Les} it just snapped. something changed
[13:56] {Threei} US) US Treasury Official: There are serious concerns over China's FX policy; will review Senate proposals
[13:56] {Threei} - highlights recent reserve builds and economic rebound as indications China should seek to continue the appreciation of its currency
[13:56] {Threei} - Note: Earlier Senators issued a proposal lamenting China's FX policies
[13:57] {jfjf64} you in this les
[13:58] {jfjf64} guessnot
[13:58] {magoo} took aig cross of 33.50
[13:58] {magoo} bam
[13:59] {magoo} only hl tho
[13:59] {magoo} out .08
[13:59] {jfjf64} hl
[13:59] {Les} yeh. saw it happening. too gutless to hit the buy button
[13:59] {jfjf64} half lot dirrrrrrrrr
[14:00] {magoo} thgats why half
[14:00] {jfjf64} didnt know your abbrev
[14:01] {jfjf64} look lk a superstar
[14:01] {jfjf64} lol
[14:01] {nemo} interesting volume on fcx db
[14:13] {nemo} guess the news got out
[14:13] {dino} unchanged
[14:14] {nemo} yep
[14:14] {Threei} - Vote 9-1; Hoenig dissents, feels language on extended period could cause imbalances
[14:14] {Threei} - Discount rate unchanged
[14:14] {Threei} - Labor market is stabilizing; employers are still showing reluctance to add to payrolls
[14:15] {Les} yay, blow us a new bubble
[14:16] {dino} strange, no reaction
[14:17] {nemo} ?
[14:17] {dino} typically we move 80-120 pts one way, then reverse
[14:17] {Threei} muted reaction
[14:20] {dino} bet, up 110
[14:22] {Threei} 70
[14:23] {Les} 48
[14:23] {fernp} 66
[14:23] {jfjf64} 52
[14:24] {nemo} hike
[14:24] {jfjf64} have no idea
[14:24] {jfjf64} 65
[14:26] {Threei} new version of ramming healthcare bill through is known as "self-executing rule"
[14:26] {Threei} gives me an idea...
[14:26] {Threei} can we have self-executing politicians?
[14:26] {Les} well they self-execute their salaries
[14:26] {Les} was that what you had in mind?
[14:27] {Threei} not even close
[14:29] {nemo} they should have automatic self-destruct mechanisms after 2 terms
[14:34] {dino} cfsg to .30
[14:35] {Threei} Intel Corp May not be offering a pre- announcement - CNBC citing sources
[14:35] {Threei} - Note: Earlier today chatter circulated that Intel could release a positive pre announcement of earnings soon
[14:35] {Threei} lol
[14:36] {Threei} Comparative analysis of current vs Jan 27 FOMC statements: maintains "extended period" language, vote again 9-1; minor revisions on labor market; adds that it will use policy tools as needed
[14:36] {Threei} - the economy statement reiterates that "economic activity has continued to strengthen' but mildly revises the outlook for jobs stating "the labor market is stabilizing" (revised from "the deterioration in the labor market is abating"). Another minor revision is a nod toward the commercial real estate market, with the new statement noting "investment in nonresidential structures is declining (adding the word 'nonresidential'). Reiterates that household spending is expanding at a moderate rate but remains constrained, but adds a note that "high unemployment" (revised from "a weak labor market") is one constraint. The statement still sees business activity picking up in some sectors and reiterates "employers remain reluctant to add to payrolls." Reiterates that " the pace of economic recovery is likely to be moderate for a time."
[14:36] {Threei} The inflation statement is unaltered: "With substantial resource slack continuing to restrain cost pressures and with longer-term inflation expectations stable, inflation is likely to be subdued for some time."
[14:36] {Threei} Reiterates expectation for "exceptionally low levels of the federal funds rate for an extended period" due to subdued inflation trends and low rates of resource utilization. On securites purchasing programs, the FOMC now states that "The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to promote economic recovery and price stability" (revised from " will continue to evaluate its purchases of securities in light of the evolving economic outlook and conditions in financial markets). The statement does not alter timing on the wind down of existing liquidity programs, noting "The only remaining such program, the Term Asset-Backed Securities Loan Facility, is scheduled to close on June 30 ."
[14:36] {dino} wow reverse slip out .34 cfsg, +.34
[14:40] {Threei} CAT
[14:41] {Threei} never mind, late
[14:42] {jfjf64} comon what ya tryin to do to us
[14:42] {jfjf64} lol
[14:42] {Les} aig back below .50
[14:43] {Threei} .25 if holding .20, CAT
[14:43] {Threei} Long Setup: CAT .25 if stays above .20
[14:43] {dino} cagc 25s
[14:45] {nemo} .20 recross?
[14:45] {nemo} damn
[14:56] {Les} dsw coming back down
[14:56] {dino} watching it
[14:57] {Threei} double bottom scenario worked on it nemo
[14:57] {dino} cagc l .10
[14:57] {nemo} yeah, I was writing as it tripped .20
[14:57] {nemo} spy started up just before it
[14:59] {Threei} (US) House of Rep Tax and Trade Panel Chmn Levin: May extend the 2009 estate tax policy, may be retroactive (related TLT SHY )
[15:00] {dino} out .32 ave cagc, +.22
[15:01] {dino} back in 10
[15:01] {nemo} back in cagc at 10?
[15:02] {dino} no
[15:02] {Threei} lol
[15:02] {dino} i have to leave for 10
[15:02] {nemo} :)
[15:02] {fernp} lol
[15:06] {magoo} LVS vad
[15:06] {magoo} LVS vsd
[15:07] {fernp} Good evening everybody. See you all tomorrow
[15:07] {magoo} c u fern
[15:07] {fernp} take care mags
[15:09] {jfjf64} good day all
[15:10] {magoo} bye jf
[15:12] {Les} aig selloff
[15:12] {Threei} take care fern jf
[15:12] {Les} bye all
[15:12] {Les} that are leaving now
[15:12] {Threei} mags, my take on LVS
[15:12] {magoo} sheesh, bunch of slackers vad
[15:12] {Threei} leave it be for today, let it consolidate cloe to high
[15:12] {nemo} wynn up over a buck since I mentioned it this morning
[15:12] {Threei} look at daily
[15:13] {Threei} this is perfect for TGOMORROW's breakout
[15:13] {magoo} mgm too boss
[15:13] {Threei} today, coin toss
[15:13] {Threei} yes, will follow, but LVS is better play
[15:15] {magoo} well..thats why we pay u...and not magoo
[15:16] {nemo} Always talk about yourself in the 3rd person?
[15:16] {magoo} magoo almost never does that
[15:16] {nemo} Ahhh, evil-twin syndrome
[15:17] {magoo} crazy climber today vad was GE
[15:17] {magoo} wells high
[15:17] {dino} darn, i leave and dsw goes
[15:17] {dino} cagc 25.80s
[15:22] {magoo} ok, i have apptmt..c u morrow
[15:22] {Threei} slacker!
[15:22] {magoo} :)
[15:23] {dino} strike action happening imo
[15:24] {dino} amsc, dsw, snda, cagc, 5s 0s
[15:27] {Les} sorry dino, could you elaborate please?
[15:28] {nemo} stock prices on op ex week tend to move to where the greatest percentage of options will expire worthless
[15:28] {Les} ah. max pain
[15:28] {nemo} no...that's you
[15:29] {Les} ok. that was funny
[15:29] {Threei} lol
[15:29] {Threei} it was
[15:29] {Les} don't encourage him vad
[15:29] {nemo} yeah, sorry...someone sticks there chin out like that...can't help myself
[15:29] {Threei} also, pleasant - I am happy to yiled that title to someone else
[15:30] {Threei} I have to Les... sense of humor is one thing I can't help but credit
[15:31] {Les} still. that is what "max pain" is, isn't it?
[15:31] {nemo} yes
[15:32] {dino} what nemo said, plus 5s and 0s seem to be magnets
[15:32] {Les} right
[15:39] {dino} cagc lod
[15:40] {Threei} see how LVS struggles here?
[15:40] {Threei} but creates such a perfect base for tomorrow's break
[15:47] {strider} trev, dcc..
[15:52] {dino} snda 40s
[15:59] {Threei} ok guys, thank you all, have a good evening
[15:59] {Threei} see you tomorrow
[15:59] {nemo} cya
[15:59] {Les} u too. thanks
[15:59] {dino} thx all, slow day, but profitable
[16:00] {Les} it was a good day.
[16:01] {dino} glad to hear that les
[16:01] {dino} for tomorrow, ancc, cfsg, dsw, sam, snda, strl, cagc, jst