Apr 08 2010

It's not like we are partial to gambling but our most profitable stocks today were LVS and MGM. A few trades on each, on both long and short sides, plus cute short on CAT made the day. Read a little educational discussion from 13:52

Session Time: Thu Apr 08 00:00:00 2010

[03:19] {KSystems} Good morning!

[07:54] {jfjf64} mornin

[07:54] {jfjf64} rise and shine vad

[07:55] {jfjf64} time to mk the donuts

[08:01] {KSystems} hey

[08:20] {Les} AIG b/o. took a +.15 cut

[08:22] {Threei} good morning

[08:22] {Threei} see UAUA?

[08:23] {Threei} Yesterday 17:12 LCC US Airways and United are "deep" in merger talks - NYT Dealbook

[08:23] {Threei} - Potential terms were not disclosed

[08:30] {Threei} US) INITIAL JOBLESS CLAIMS: 460K V 435KE

[08:31] {Threei} CONTINUING CLAIMS: 4.55M V 4.630ME

[08:31] {Threei} - Prior Initial Claims revised higher from 439K to 442K

[08:31] {Threei} - Prior Continuing Claims revised higher from 4.662M to 4.681M

[08:33] {Les} hey vad

[08:33] {Threei} Les :)

[08:36] {Les} gap up UAUA spy gap down. so a b/o scenario UAUA if market goes up?

[08:37] {Threei} if it forms according setup...

[08:37] {Les} sure

[08:37] {Threei} but takeover negotiations is somewhat unusual case

[08:37] {Threei} a lot of room for speculation about the conditions

[08:37] {Les} who's taking over who?

[08:38] {Threei} headline says "merger"

[08:40] {strider} PALM: move up from base on daily

[08:44] {strider} AIG

[08:47] {Threei} GR) ECB"s Trichet: Position has been for Govt's to meet their responsibilities - Q&A

[08:47] {Threei} - comments on response to question on Greece's debt spreads

[08:47] {Threei} EU) ECB's Trichet: Reiterates that ECB threshold for acceptable collateral to be BBB-, ABS exempt from extension of collateral rules

[08:47] {Threei} - There will be a new scale for haircuts for BBB-rated assets accepted as collateral. Details on haircuts to be published later today in a news release.

[08:49] {Threei} - Trichet notes that the issue is not a matter of refusing IMF assistance; IMF involvement in the EU plan for Greece is workable

[08:49] {Threei} - Rescue package measures are NOT subsidies

[08:49] {fernp} Good morning everybody

[08:49] {Threei} fern :)

[08:49] {Threei} this Greece issue just won't go away

[09:00] {dptl} good morning

[09:01] {Threei} dp :)

[09:02] {strider} morning everyone.

[09:02] {Threei} strider :)

[09:02] {strider} :)

[09:05] {dino} gm all, how about that false frx news

[09:05] {shorty} gm all

[09:05] {Threei} dino :)

[09:05] {Threei} shorty :)

[09:05] {Threei} that's a very weird story

[09:05] {Threei} I don't get it

[09:06] {dino} they said approved, then at 4:00 they said declined

[09:06] {Threei} 3:36:43 PM

[09:06] {Threei} Forest Laboratories Inc FDA panel finds Daxas effective for lung ailments, vote 9-6 in favor

[09:06] {Threei} - follow up 15:54ET: panel votes 9-6 in favor of the drug's safety profile

[09:06] {Threei} - Daxas treatment is for COPD maintenance.

[09:06] {Threei} 4:03:37 PM

[09:06] {Threei} Forest Laboratories Inc FDA Panel: Does not support approval for Daxas for COPD maintenance, vote 10-5 against

[09:06] {Threei} - Note: Earlier the Panel found Daxas effective and voted in favor of its safety profile

[09:06] {larisa} gm :)

[09:06] {Threei} larisa :)

[09:06] {dino} more of the games

[09:07] {Threei} just goes to show you

[09:07] {dino} cml, rgld, frx, anf

[09:07] {Threei} anything can happen any time

[09:08] {dino} trading in the zone; best thing i got from it, "anything can happen"

[09:08] {Les} imagine the screams this morning...

[09:12] {Threei} brutal

[09:12] {gen} gm all

[09:12] {gen} :)

[09:12] {nemo} gm :)

[09:12] {gen} :)

[09:12] {Threei} gen, nemo :)

[09:14] {dino} retailers beat big for most part, but xrt neg.

[09:14] {dino} gap 41.79

[09:14] {dino} 5s and 0s hitting, exp next fri

[09:15] {ese} gm

[09:15] {gen} :)

[09:16] {Threei} ese :)

[09:18] {Threei} (GR) S&P: Risk of Greek default is low at current sovereign rating of "BBB+" but depends on full implementation of austerity measures

[09:20] {Threei} Earlier Fitch analyst notes that Greek default risk is inherent with BBB+ rating which is high by eurozone standards

[09:20] {lasertrev} morning

[09:20] {Threei} trev :)

[09:20] {gen} :)

[09:22] {ese} LT......tks for the email

[09:23] {lasertrev} np

[09:23] {Threei} dino, to add insult to injury:

[09:23] {Threei} FRX Summer Street Research Partners making positive comments; Recommends buying on weakness

[09:23] {Threei} - Reiterates Buy rating, price target cut to $40 from $43

[09:23] {Threei} lol

[09:24] {shorty} Buy on weakness?

[09:25] {Threei} asking me?

[09:26] {shorty} No, just saying. I would buy on weakness, if it's his money.

[09:28] {Threei} no clear opening plays

[09:28] {shorty} Thoughts on UAUA? Heard a merger might happen.

[09:28] {Threei} no special thoughts

[09:28] {Threei} there is setup - there is play

[09:28] {Threei} no setup, no play

[09:29] {Threei} it's on radar of course

[09:29] {shorty} I go it. No setup, no play.

[09:30] {Les} aig 40 b/o?

[09:30] {Les} ah no

[09:30] {jfjf64} up up and away

[09:31] {Les} bbby dropping hard

[09:33] {dino} snda

[09:34] {dino} played bbby last night at 46.40-.60

[09:34] {dino} darn good report

[09:35] {Les} bounced back good just now

[09:36] {dino} sm l .20

[09:36] {Threei} Short Setup: LVS .80 break

[09:36] {Threei} if stays under .85

[09:38] {dino} cml

[09:38] {dptl} out +0.05 ty

[09:38] {Threei} UAUA no pullback

[09:39] {shorty} hit it's 52 week high

[09:39] {Threei} covering half LVS

[09:40] {Threei} bidding 1/4 more .64

[09:40] {Threei} hit

[09:41] {Threei} stop to .76

[09:41] {Threei} bidding last part .57

[09:41] {dino} risky sm l cml .30

[09:44] {Threei} NVAX...

[09:44] {Threei} no news that I see

[09:45] {Les} crap missed uaua pullback

[09:45] {gen} out frx +.29

[09:46] {gen} tnx dino

[09:46] {dino} gj

[09:46] {shorty} The LVS set up was awesome to see Threei.

[09:46] {dino} syt pos

[09:46] {gen} out FRX +.29

[09:46] {dino} husa, mee

[09:46] {Threei} ABIO

[09:47] {shorty} wow

[09:47] {Threei} no news

[09:47] {Threei} last portion LVS is closed

[09:47] {Threei} US) Nevada reports Feb gaming win $946M; +13.9% y/y, Las Vegas strip +32.9% y/y

[09:48] {Les} lcc hod b/o?

[09:49] {Threei} I doubt it

[09:49] {magoo} morn

[09:49] {Les} yeh

[09:49] {magoo} lvs pop

[09:50] {dino} vad, gut feel, mkt up or down?

[09:51] {Threei} can't get a feel

[09:51] {dino} eat something

[09:51] {dino} my gut, up

[09:54] {magoo} news lvs vad?

[09:54] {dino} bbby to .59

[09:55] {dino} .65 wall

[09:55] {Threei} [09:47] {Threei} US) Nevada reports Feb gaming win $946M; +13.9% y/y, Las Vegas strip +32.9% y/y

[09:56] {Les} wfc fitb looking b/dish

[09:56] {Les} wfc l.60 break?

[09:57] {Threei} I'd prefer bounce

[09:57] {dino} to .78 bbby

[09:57] {Threei} short into bounce I mean

[09:57] {dino} out +.58 bbby

[09:57] {Les} sweet

[09:57] {jfjf64} nice

[09:57] {dino} ty

[09:57] {shorty} Speaking of Vegas, my brother and his wife are there. When I dropped them off at the airport, my bro asked what number on the roulette table, I said 12. I get a call last night he made $700 on $20.

[09:58] {dino} cool

[09:59] {shorty} I was happy for them.

[09:59] {larisa} I will be there in a week, tell me the number shorty :)

[10:00] {dino} never been there

[10:00] {larisa} pretend i am your brother

[10:00] {Threei} lol

[10:00] {Les} wfc bounced

[10:00] {Threei} Les, see WFC?

[10:00] {Les} watching

[10:00] {Threei} this is exactly kind of traps such shoert gets you into

[10:00] {RonS} wynn ripping

[10:01] {Threei} at the bottom of extended slide

[10:01] {Les} so its not just specially WFC?

[10:01] {Threei} no

[10:01] {jfjf64} what

[10:02] {gen} out of X +.19

[10:02] {shorty} lol Larisa

[10:02] {strider} AIG

[10:02] {Threei} Short Setup: WFC .70 break

[10:02] {Threei} if stays under .75

[10:03] {shorty} Ask me the day you are leaving, and I will ask the roulette god's.

[10:03] {larisa} :)

[10:07] {strider} PALM pullback

[10:08] {nemo} this is like flossing with barbed wire

[10:08] {Les} :) pull them teeth

[10:09] {Threei} what is?

[10:09] {nemo} today's market

[10:09] {Les} lvs pullback to support

[10:09] {dino} celg gap fill

[10:11] {dino} sm l celg .10

[10:15] {RonS} wynn flagging above 52 week h, anything here 3i?

[10:15] {Threei} PMI

[10:16] {Threei} .75 break scalp type I

[10:17] {Threei} can't tell Ron

[10:17] {magoo} PALM vad crash

[10:18] {strider} status of PMI trade?

[10:18] {Threei} you got it?

[10:18] {strider} no

[10:18] {strider} get it now?

[10:18] {fernp} not here

[10:19] {Threei} well, it broke and hit 1:1, but was near impossible to enter

[10:19] {nemo} offer at .78 new break?

[10:19] {Threei} nah

[10:19] {Threei} if I wanted second chance I'd do it only on pullback

[10:20] {Threei} it's getting unusually frisky though

[10:20] {Threei} PALM, I don't know mags...

[10:20] {Threei} don't like it at all

[10:21] {dino} fdx sm l .00

[10:22] {Threei} (GR) Greece PM Spokesperson: Reiterates that Greece does not need to activate EU/IMF plan at this time

[10:23] {Threei} in 7 minutes, we may have to

[10:24] {Les} lvs break here?

[10:24] {dino} lol

[10:25] {Threei} most likely Les

[10:25] {Threei} pullback would still be my preference

[10:25] {Threei} this is tense nervous market

[10:26] {Threei} things generally do not move straight up or down in such environment, seesaws everywhere

[10:27] {Les} say .60 pullback? or more?

[10:27] {Threei} that's not the way it works

[10:27] {Threei} it's not about number per se, it's about readable formation

[10:28] {Threei} so far it's forming range .61 - .71

[10:29] {Threei} ideally it would approaach the low, and market spiked sharply

[10:29] {Threei} so we could get in close to support

[10:30] {Threei} ok, now watch market for help

[10:30] {Threei} and use 5 cents ranges recross for entry

[10:30] {RonS} dinjo strikes, trannies green

[10:30] {dino} out fdx .50, +.50

[10:30] {RonS} dinjo=dino

[10:31] {Threei} wtg

[10:31] {dino} lol

[10:31] {dino} ty

[10:31] {dino} seems gut was right

[10:32] {Threei} see how it works Les?

[10:32] {Threei} textbook

[10:32] {Threei} now imagine you bought a break

[10:32] {ese} Lbexp .09

[10:32] {Les} yeh always a pleasure to watch

[10:33] {Threei} just how offensive would it ne to get shaken out like this - while market jumps up?

[10:33] {Threei} and the only reason for such a slap in the face would be, lack of general understanding of the environment

[10:33] {Threei} lookie lookie LVS

[10:34] {Threei} following my step by step, you would be in at .61

[10:34] {shorty} Have to call it a day all, taking kids out for the day.

[10:34] {Threei} with .55 stop

[10:34] {Threei} take care shorty

[10:35] {Threei} these are besutiful instructive moments guys, gather them in your arsenal

[10:35] {Threei} like golden nuggets of very clean educational action by market

[10:35] {dino} cta shorty

[10:36] {Les} yeh bailed +.02 to sort out drama with children, but setup understood

[10:36] {Les} I see golden age ten years from now - trading experience and adult children leaving me alone to work

[10:37] {dino} thats why i have office les

[10:38] {Threei} second similar setup

[10:38] {Threei} opullback under .60, bottoming at .58, recross

[10:39] {Les} in 6 mths here I have found this is not uncommon setup of yours

[10:39] {dino} out cmy ave +.16

[10:40] {Threei} very observant les... {G}

[10:40] {Les} :P

[10:40] {Threei} almost like in case of Sherlock and watsno discussing the meaning of starry sky :)

[10:40] {dino} cml that was

[10:40] {Threei} Watson

[10:41] {dino} or magoo ponder lunch order

[10:41] {magoo} actually skipped lunch last 2 days

[10:41] {Les} AIG 39 b/d?

[10:41] {Threei} half lot

[10:42] {Threei} if stays under .15

[10:42] {Threei} no need to quote tent joke?

[10:43] {dino} :D

[10:44] {Threei} this AIG situation is on again off again

[10:44] {Threei} meaning, even if it invalidates but not by much, it can reestablish itself by new consolidation under .15

[10:45] {dino} cml bottom of range

[10:45] {Threei} if goes above .25 though forget it

[10:46] {Threei} LVS is not a setup anymore

[10:46] {Threei} 3rd retest of the same thing is usually overdoing it

[10:46] {strider} GS?

[10:47] {Threei} not my thing usually... mags has better instinct for it

[10:47] {Threei} looks breaky to me

[10:47] {strider} k

[10:48] {Threei} breaky it was

[10:48] {ese} L cenx .93

[10:50] {Les} was just contemplating PNC break....

[10:52] {Les} AXP.90 break?

[10:53] {Threei} only if market moves up confidently

[10:53] {strider} shw

[10:53] {Threei} and I'd try aggressively

[10:53] {fernp} SIMG .25 break, vad?

[10:53] {dino} xrtx l .09

[10:53] {Threei} .86 for instance,

[10:53] {Threei} with stop under .80

[10:54] {Les} l .86

[10:54] {Threei} I doubt it fern

[10:54] {Threei} water torture

[10:54] {fernp} ok

[10:58] {Les} and stopped

[10:59] {Threei} Ryanair contemplates charging for the washroom use on the airplane

[10:59] {dino} cagc wakey wakey

[11:00] {ese} bexp = sloth

[11:00] {dino} lol

[11:00] {dino} need some pulpers es

[11:01] {Threei} {BEXP} you... you... you sloth! There!

[11:01] {RonS} bringham young...and often

[11:01] {ese} L xrtx .11

[11:01] {ese} thats my 1/2 lots there dino on the T&S

[11:01] {ese} lot

[11:04] {dino} cml l .25

[11:06] {Threei} AIG sharp drop

[11:07] {Les} pivot .53

[11:07] {dino} syt slow and steady

[11:07] {Les} with 200ma as well in support

[11:07] {dino} cagc l .40

[11:07] {dino} hl

[11:08] {ese} out cenx .06 +.13

[11:08] {Threei} wtg

[11:08] {ese} more like it!

[11:08] {dino} gj

[11:11] {dino} c'mon celg pull yourself up

[11:13] {dino} syt to flat

[11:13] {Les} uaua selloff to support

[11:16] {jfjf64} mgm a monster

[11:17] {Threei} it starts outrunning LVS

[11:17] {Threei} rare case

[11:18] {Threei} normally I see it following, lagging a bit

[11:19] {jfjf64} think it gets pass 15

[11:19] {Threei} pullback to about .60 would made me an interested and motivated buyer

[11:20] {Les} ROST .10 b/d?

[11:20] {jfjf64} keep me posted

[11:20] {Threei} half lot Les...

[11:20] {jfjf64} puulbks hard for me

[11:20] {magoo} .60 mgm or lvs vad?

[11:20] {Threei} MGM mags

[11:20] {Threei} watching jf

[11:20] {magoo} ty

[11:21] {jfjf64} ty

[11:22] {dino} out celg .50, +.40

[11:23] {Threei} beautiful

[11:26] {Les} uaua .60?

[11:29] {ese} your having a good dino

[11:29] {dino} spiked, out cagc .20, +.80

[11:30] {dino} lucky day es

[11:30] {Les} "Mr Incredible" or "Mr Obscene" - you choose

[11:31] {dino} c'mon les, you can follow. i post entries

[11:31] {dino} careful tho, due for miss or two

[11:31] {Les} yeh, it seems your setups work to a charm on frozen days like today

[11:31] {ese} out bexp .06 -.03 had enough there

[11:33] {dino} lol les, told you the other day, i see wierd stuff

[11:33] {Les} useful perspective

[11:34] {dino} ctrp lod

[11:35] {jfjf64} later guys

[11:36] {dino} cya jf

[11:36] {Threei} take care jf

[11:36] {Les} bye

[11:36] {ese} xrtx hmmmmmm

[11:36] {Threei} this is the funniest settlement I've ever seen:

[11:37] {Threei} Pernod-Ricard SA Settles dispute with Russian Standard Vodka

[11:37] {Threei} - Pernod Ricard and Russian Standard Vodka today announced that they have reached a settlement of claims brought by Russian Standard against Pernod Ricard in the United States District Court for the Southern District of New York. The claims in this action have been dismissed with prejudice, without any admission of liability by any party, without payment of money by any party to any other party and without injunctive relief for or against any party or any of its affiliates.

[11:37] {dino} in it es

[11:37] {Threei} settle ment without admission, payment ot injunctive relief

[11:38] {fernp} UAUA was good. TY Les

[11:38] {dino} did it over couple bottles

[11:38] {Les} now worries. took a scalp myself.

[11:39] {Threei} reminds me a settlement of work place dispute: I demanded salary raise from my boss, or I'd quit; we reached a compromise - he didn't raise my salary, and I didn't quit

[11:40] {fernp} lol

[11:40] {Les} all that legal hot air to say nothing is happening

[11:40] {dino} giddy-up

[11:40] {ese} l uaua .70

[11:40] {ese} got the pull back

[11:41] {Threei} MGM pullbacks are shallower than chart would suggest

[11:42] {ese} out uaua .77 +.07

[11:42] {gen} bye all

[11:42] {gen} wasn't good day :(

[11:42] {dino} cya gen

[11:42] {ese} cya gen

[11:42] {Threei} take care gen

[11:42] {dino} new day tomorrow

[11:43] {fernp} bye gen

[11:47] {fernp} TXN breakdown, Vad?

[11:47] {Threei} I'd rather go for long scalp on .80 break

[11:47] {fernp} ok

[11:51] {RonS} Headline of the day: Goldman Hires A Reporter From The New York Times Just To Get One On Its Side (GS)

[11:51] {Threei} lol

[11:51] {Threei} they sure are in a bad need of some PR

[11:52] {dino} xrtx stop to .21

[11:52] {dino} politics of envy

[11:53] {dino} out xrtx .21, +.12

[11:54] {dino} syt to .19

[11:56] {nemo} we'll be green in a second

[11:56] {dino} make it .22

[11:58] {Threei} retreated from green just barely touching it

[11:59] {dino} out syt .20, +.20

[12:00] {Threei} DOW green

[12:00] {Threei} SPY is within spiitting distance

[12:00] {Threei} absolutely incredible resilience

[12:02] {Les} cal falling followed by uaua. DAL .50 b/d?

[12:04] {Threei} not delighted...

[12:07] {Les} ok. out after +.04. DAL has 200 ma at .42. can wait for confirmation

[12:07] {dino} cagc gives it back

[12:08] {Les} or maybe a long entry?

[12:09] {dino} ed's bloodied

[12:09] {dino} apol, esi

[12:13] {dino} abii

[12:17] {dino} cml stopped -.13

[12:19] {ese} L cenx .99

[12:19] {ese} i'm out xrtx as well .19 +.07

[12:20] {dino} gj es, missed that spike to .28

[12:20] {Les} aiv has returned to its hod .47 break?

[12:21] {Threei} Apple Inc May be planning to launch a smaller 5- to 7-inch version of the iPad - digitimes

[12:21] {Threei} - Apple is reportedly scheduling a smaller 5- to 7-inch version of the iPad that is expected to launch as soon as the first quarter of 2011, according to Digitimes Research senior analyst Mingchi Kuo.

[12:21] {Threei} - Kuo, citing talks with upstream component sources, said Apple's smaller-size iPad will be priced below $400 and will target the highly-portable mobile device market and consumers that focus mainly on reading and do not have a high demand for text input

[12:21] {Threei} way too narrow, Les

[12:21] {Les} k

[12:22] {Threei} everything's green

[12:22] {Les} aig's trying 39

[12:23] {Threei} Google Inc Testing Google Voice as a desktop application - TechCrunch (update)

[12:23] {Threei} - Last November Google acquired Gizmo5, a VoIP service that competed with Skype by making P2P VoIP calls as well as making and receiving calls. Google never commented on how they might use Gizmo5s technology. But weve confirmed that they have now built a Google Voice desktop application to make and receive calls.

[12:24] {Threei} may become a problem for EBAY?

[12:24] {dino} apol sm l .24

[12:24] {ese} ya dino....was looking aomething else....too bad

[12:24] {Threei} no...

[12:24] {Threei} who is owning Skype, I forgot?

[12:24] {dino} ebay?

[12:24] {larisa} Ebay does

[12:25] {Threei} OK, doubted it for a sec

[12:25] {Threei} ty

[12:25] {dino} 3i is so untrusting of dino

[12:25] {Threei} something to keep on a backburner for now probably,

[12:25] {Threei} if GOOG ventures into thias full force, EBAY may get some downdrift on this

[12:26] {Threei} no dino, rather of my memory and reading comprehension

[12:27] {Threei} as you well know by now, I limit my business reading to cereal boxes

[12:28] {Threei} and btw, in Canada it's not a small feat to read the whole box

[12:28] {Threei} 3 oput of 6 sides are in French

[12:28] {dino} yeah, well soon in usa it will be in spanish

[12:28] {Threei} that's OK

[12:29] {Threei} you just pray we all don't get to whole box in Chienese

[12:29] {dino} that will be the $

[12:34] {Les} aig .10 break?

[12:34] {Les} too late

[12:36] {magoo} i got it

[12:37] {dino} frx lod

[12:40] {Threei} FRX is one inKredible story

[12:40] {Threei} as in INK, RED

[12:40] {Les} you looking for stand up comedy work vad?

[12:40] {Threei} Preview: (US) Treasury's $13B 30-year bond reopening results due out just after 1pmET

[12:40] {Threei} - $13B is unchanged from the Mar reopening.

[12:40] {Threei} - Bid to cover ratio at the Mar reopening was 2.89 with an average of 2.62 over the last 7 reopenings.

[12:40] {Threei} - Indirect bidders took 23.9% of competitive bids at last reopening with 82.8% allotted at the high.

[12:40] {Threei} - The cash and when issued markets are trading roughly inline.

[12:40] {Les} :D

[12:41] {Threei} no but my 2x4 isd conveniently close

[12:41] {Les} lol

[12:41] {Threei} :)

[12:41] {Threei} this auction is not as important as last one, right?

[12:45] {nemo} actually, very important

[12:45] {nemo} buyers of the 30 year are betting long term

[12:46] {Threei} ok... back to reading "Treasury Auction CherryO Cereal Box"

[12:46] {Threei} or is it CheeryO, the way last one went?

[12:46] {nemo} look how few indirect bidders bought product

[12:47] {Threei} ok, so my assumption:

[12:48] {Threei} considering an auction results two day's ago, in hope that this one will be just as good, market climbs up in advance

[12:50] {Threei} I would start countdown to 11K, but I don't believe we can cover remaining 80 points today

[12:50] {Threei} I am tempted to do it just to irritate larisa, but she doesn't get irritated

[12:50] {Les} aaah, the doubt begins to creep into vad's language

[12:50] {Threei} kills all the joy

[12:51] {Threei} doubt?

[12:51] {Threei} how's "not today" a doubt?

[12:51] {Threei} I didn't even bother to oput 11K hat in the drawer

[12:52] {Les} "don't believe"...."not today". These aren't words I can't recall this last week

[12:52] {Les} can, not can't

[12:53] {Threei} 'cause back then we were within 1 day range of 11K

[12:53] {Threei} right now we are not

[12:53] {Threei} simple as that

[12:53] {Threei} there is reality

[12:54] {Threei} whatever wishful thinkers think of it, it's unbending

[12:54] {Threei} don't take any positions next 5 min, wnatever looks setting up

[12:56] {Les} you got out earlier mags?

[12:56] {magoo} yup

[12:57] {magoo} not great .23

[12:57] {magoo} i never catrch the run anymore

[12:57] {Les} was worth watching, how the tape behaves just before breakout - it tells you something coming

[12:59] {Threei} mags, it will be this way for a short while, until market resolves this stall

[12:59] {Threei} then ranges will widen again, but most importantly - action will becomes fast and furious again

[12:59] {Threei} at this point it's very restrained

[12:59] {nemo} fas new high

[13:00] {Threei} a min till auction

[13:00] {nemo} now

[13:00] {Les} good auction means interest rates not too high?

[13:01] {Threei} not going to jump any time soon

[13:01] {Threei} so market's happy

[13:01] {Threei} *(US) TREASURY'S $13B 30-YEAR BOND REOPENING DRAWS 4.770%; BID-TO-COVER RATIO 2.73 V 2.89 PRIOR AND 2.62 AVE OVER THE LAST 7 REOPENINGS

[13:02] {Threei} Indirect bidders take 36.8% of competitive bids, with %30.96 alloted at high

[13:02] {Threei} - 25% go to Direct bidders

[13:02] {Threei} - Median 4.728%, Low 4.65%

[13:02] {Threei} not anywhere as spectacular as last one

[13:02] {Threei} but not a disaster either

[13:02] {nemo} higher indirect buying

[13:03] {Threei} is my read right?

[13:03] {nemo} lower bid to cover but not out of range

[13:03] {dino} won't matter until it matters, plus we are the best house on a bad street

[13:03] {Les} and the market just shrugs...

[13:04] {nemo} only 30% alloted at the high, which is better than last time

[13:04] {dino} see

[13:04] {dino} nothing matters at thos point in time

[13:04] {Threei} new highs

[13:04] {Threei} right dino

[13:04] {Threei} any pullback is nothing but bait for shorters

[13:05] {dino} liquidity bubble i the making again. and govt won't let it drop much

[13:05] {Threei} lure them in, chew them up, spit them out

[13:05] {Threei} rinse, repeat

[13:05] {dino} musical chairs

[13:06] {dino} frx l .50

[13:06] {dino} stop .39

[13:09] {Threei} MGM... pullback under .60 for long entry

[13:09] {Threei} with stop under .50

[13:10] {Threei} let's try to use WYNN as its guidance

[13:15] {Threei} can't make up its mind

[13:15] {Threei} nor I mine

[13:22] {nemo} this is like ripping the wings off a fly

[13:22] {Threei} LVS new high

[13:23] {Les} scalp or partial

[13:23] {Les} ?

[13:23] {Threei} on what? from where?

[13:23] {nemo} mgm

[13:23] {Les} MGM

[13:23] {Threei} partial IMO

[13:23] {Les} out +.09

[13:23] {Threei} where did you get it?

[13:24] {Threei} .61?

[13:24] {Les} y

[13:24] {Threei} good entry

[13:24] {Threei} IMO... going higher

[13:24] {Les} yeh

[13:25] {Les} wow. lost on axp break earlier and look now...

[13:26] {Les} I forget to track and follow up failed setups for new entry

[13:27] {shorty} Still not a good time to short?

[13:27] {Threei} market at the high

[13:27] {Threei} why would you want to short it?

[13:28] {shorty} Not serious, the market keeps going up and up and up

[13:28] {Threei} okay... I have increased competition I see... I was hoping to take right on Seinfield himself but now I have to prove myself against shorty first

[13:29] {Threei} who partialled MGM, offer 1/4 more at .76 - .77

[13:30] {Threei} hit

[13:30] {Threei} .84 last portion

[13:30] {Threei} .83 - .84

[13:31] {Threei} WYNN and LVS new highs

[13:32] {Threei} no reason to be a lagger, MGM, move your butt

[13:32] {Threei} remember what a beautiful gold lion you've got at the bottom of your emerald building

[13:32] {Les} aig spike down to pivot support

06[13:33] * Threei gives larisa ideas for a places to take photos

[13:33] {fernp} PIR short if breaks 8, Vad?

[13:34] {Threei} if/when market seriously changes direction

[13:34] {Threei} not during this slow grind up

[13:34] {fernp} ok

[13:34] {fernp} ty

[13:35] {dino} frx stopped

[13:36] {dino} apol stopped

[13:36] {Threei} damaged goods dino

[13:36] {Threei} FRX I mean

[13:36] {Threei} MGM stop for last piece to under .70

[13:37] {dino} yeah, thought it would hold

[13:37] {Threei} last target hit MGM

[13:38] {RonS} .djt at 52 wk h

[13:38] {Les} EK 7

[13:39] {Les} looking for new 52wk high EK

[13:46] {RonS} fwiw: http://pragcap.com/rail-freight-continues-to-rebound

[13:51] {ese} gotta go all....it's "meet the creature day at my high school".....sorry thats meet the teacher day

[13:51] {Threei} lol

[13:51] {shorty} lo ese

[13:51] {Threei} take care ese, don't let creatures get to you

[13:51] {shorty} good day, good luck!

[13:51] {Threei} by the way

[13:51] {ese} cya

[13:51] {Threei} why no one asks how my webinar went yesterday

[13:52] {fernp} bye ese

[13:52] {Threei} soulless creatures

[13:52] {nemo} moth memory

[13:52] {Threei} not as big as mothballs I take it?

[13:53] {Threei} market probably topped

[13:53] {Threei} let's see if we can find decent short

[13:54] {Threei} CAT

[13:54] {Threei} half lot

[13:54] {Threei} no setup yet

[13:55] {Threei} Short Setup: CAT .55

[13:55] {Threei} if stays under .65

[13:55] {Threei} .60 is possible but too high chance of a shakeout

[13:57] {Threei} 1:1

[13:57] {Threei} nice and easy

[13:58] {shorty} Thanks Threei. You do make look easy.

[13:58] {shorty} Follow your set ups, pay you monthly. I am happy.

[13:59] {dino} rino l .13 ave

[13:59] {Threei} well

[13:59] {Threei} sorry to disappoint you, but it's not that easy

[13:59] {shorty} lol

[13:59] {Threei} :)

[13:59] {shorty} I know that.

[13:59] {Threei} I know

[14:00] {Threei} but yeah, taking my setups sometimes will alone cover the price of admission many times over

[14:00] {shorty} This chat room is great. I has less noise then the other ones.

[14:00] {Threei} one thing that I want you to ponder:

[14:00] {Threei} think why it looks so easy

[14:01] {Threei} so effortless

[14:01] {shorty} It took a lot of work to get there.

[14:01] {Threei} sure... it is through many complications that things become simple

[14:01] {Threei} but there is a god reaon for these trades to go so smoothyl

[14:02] {Threei} and for us to be stressfree while executing them

[14:02] {Threei} this reason is:

[14:02] {Threei} they, trades, are done with market flow

[14:02] {Threei} we are not fighting it,

[14:02] {Threei} we let it take us with it

[14:03] {shorty} Knowing where the current is going is where I have trouble.

[14:03] {Threei} it will come

[14:03] {Threei} it's not something we are born with

[14:03] {Threei} there is a major realization, revelation if you will, to experience

[14:04] {Threei} on almost philosophical level

[14:04] {Threei} realization of what your perception and what reality is,

[14:04] {Threei} what their roles are

[14:04] {Threei} how they interact,

[14:04] {Threei} where you are in that interaction

[14:04] {Threei} and how to place yourself in the right spot.

[14:04] {larisa} I thought it is just a hat that you pulling out from time to time.. 10k 11k.. no ?

[14:05] {Threei} When you get it right, bulb goes on

[14:05] {Les} aig 38

[14:05] {Threei} yes larisa but why do you give out my secrets?

[14:05] {larisa} sorry

[14:05] {strider} Hats for sale! Git your Vad hats here!

[14:05] {shorty} I am thinking of flying down to Victoria just so I can have a conversation with you Threei. Thanks.

[14:06] {dino} xrtx l .00

[14:06] {Threei} look at the slogan plastered ay my home page

[14:06] {Threei} this is it

[14:06] {shorty} TRADE WHAT YOU SEE, NOT WHAT YOU THINK

[14:06] {Threei} whe it becomes your second nature, the rest is just techniques

[14:06] {Threei} and not too compicated

[14:07] {Les} ooooooohhhhhhhh

[14:07] {Les} I thought it was "change what you see, not what you think"....bummer

[14:07] {Threei} this thing I am working on right now, Tao for Traders (or whatever it's going to be called ebentually),

[14:07] {RonS} 3i mumbles to selk...now if I could type!...:)

[14:07] {Threei} it's going to be the most important thing I've ever written

[14:08] {Threei} no Ron

[14:08] {Threei} I gave up on that long ago

[14:08] {Threei} made my peace with that

[14:08] {RonS} selk-self...:/...now if I could type...

[14:08] {Threei} rofl

[14:09] {shorty} I should do what George did on a Seinfeld episode Les, do the opposite.

[14:09] {Threei} heh

[14:09] {RonS} "Successful speculation is the anticipation of the anticipation of others."

[14:09] {Threei} dino... we got one more recruite for Costanza trading

[14:09] {RonS} John Maynard Keynes

[14:09] {shorty} lol

[14:10] {shorty} Costanza trading

[14:10] {Threei} hate to admit it ron, but he was right

[14:10] {Threei} we don't trade companies,

[14:10] {Threei} we don't trade stocks,

[14:10] {Threei} we tarde other traders

[14:10] {dino} ahhhh, the costanza move

[14:11] {dino} now give him an orange

[14:11] {Threei} rofl

[14:11] {dino} thought you'd get that

[14:13] {Threei} one more thing about trading with market flow

[14:13] {Threei} look how CAT hesitated above .55,

[14:14] {Threei} look how it stalled under .45,

[14:14] {larisa} what setup was CAT short at new day high ? Just curious, it was perfect in my book with 3 drives to a top and divergence, but you do not usually do this kind?

[14:14] {Threei} and look how easily and quickly it went though that range - exactly the part of the move that we took

[14:14] {Threei} when market is on your side, you get very traction

[14:15] {Threei} it wasn't exactly day high larisa... it was breakdown of the low limit of the range it formed at the day high,

[14:15] {Threei} so you may call it JBE failure

[14:15] {Threei} underlyings for it:

[14:15] {Threei} market started retreating from the high, forming downward slope,

[14:16] {Threei} and we mostly have downdrift from the highs at this time of the day lately

[14:16] {Threei} so, general market feel plus chat formation

[14:16] {dino} scanners all green

[14:17] {Threei} I don't know your exact technicals, but it's not uncommon for several different methods to give similar signals

[14:17] {Threei} I was told many times things like

[14:18] {dino} frx pop

[14:18] {Threei} wow, your call was exact match to my indicator (Fib, BB, RSI, Stock, MACD, whatever people use), yet I know you don't use it

[14:21] {RonS} Watched a great movie from Mark Cuban's channel, HDnet, called Riding Giants. Details the history of surfing and the development of giant wave riding. Fascinating and applicable to trading.

[14:21] {shorty} I like to surf.

[14:21] {Threei} many things are

[14:21] {shorty} I will check it out

[14:21] {dino} frx rinsed

[14:21] {Threei} I see useful analogies in many things

[14:23] {dino} your best is "be water"

[14:23] {Threei} that was vodka misspelled

[14:24] {fernp} lol

[14:24] {dino} wow, really makes sense now

[14:24] {Threei} hehe

[14:24] {strider} Around here, it's a lot safer to be water.

[14:24] {strider} No danger of being consumed.

[14:24] {dino} but more vodka gets drank

[14:25] {dino} was having martinis over easter, dandy

[14:25] {Les} anyone take EK?

[14:26] {Les} one of these years I will learn to use a stop limit when I go do dinner. I sold at support

[14:26] {Threei} no les but good call

[14:27] {Threei} speaking of analogies, have a look at this one for instance

[14:27] {Threei} http://blog.realitytrader.com/2007/12/stephen-king-on-trading.html

[14:33] {Threei} come on, it's not THAT long

[14:33] {shorty} lol

[14:34] {Threei} (US) Fed's Kocherlakota: Problems at US banking institutions could still negatively impact US recovery; slow asset sales may be necessary

[14:34] {Threei} - affirms Fed aiming at nomalizing balance sheet before 2020

[14:34] {Threei} - inflation is tame

[14:34] {dino} 2020, sheesh, don't push things

[14:35] {RonS} ...who is that? 1/2 breed German/Am Indian?

[14:36] {Threei} lol

[14:36] {Threei} wow EK

[14:36] {Threei} that's some move

[14:37] {RonS} 20% of float short...51.5 mil sh

[14:41] {dino} cml lod

[14:41] {RonS} cml= continues more lower

[14:42] {dino} lol

[14:42] {dino} brutal on a 10% guide down

[14:42] {dino} should be a player tomorrow

[14:42] {RonS} harbinger of what will happen to misses during earnings?...

[14:43] {dino} looking at cagc and glad i was laying out at 24.20

[14:44] {strider} whaz up?

[14:44] {RonS} ya, no short here cagc

[14:44] {dino} nada

[14:44] {strider} market spike

[14:45] {RonS} i have 1188.25 .spx target from 1st hr range

[14:45] {dino} ron, i was long cagc from 23.40 to 24.20 in a.m.

[14:46] {RonS} i know...great job...let my neg sentiments get in the way today...

[14:46] {dino} ok, i misunderstood

[14:47] {dino} cml back to aug levels

[14:49] {Threei} ok, I can't help it

[14:49] {Threei} sorry larisa

[14:49] {Threei} 53 points to 11K

[14:50] {Threei} mags, you like AIG,

[14:51] {Threei} you may want to watch for quick dive under 38 for long for bounce

[14:51] {larisa} 53 has significance and philosophical meaning ? :)

[14:51] {Threei} of course

[14:51] {Threei} it's right there between 54 and 52

[14:52] {larisa} ahha

[14:52] {magoo} ty vad

[14:52] {Threei} see this uptrending ladder on 1 min, AIG?

[14:52] {Threei} it's coming right into the next step

[14:54] {magoo} wonder if it could rip in last hour like yesterday..any thoughts?

[14:56] {Threei} anyone's guess

[14:56] {dino} flip a coin

[15:00] {Threei} in .96

[15:00] {Threei} stop under .90

[15:00] {Threei} nope, too soon

[15:01] {Les} in .92

[15:01] {dino} out rino .27, +.14

[15:02] {dino} back in 10

[15:02] {larisa} See you guys in a couple of weeks. Hope market is over 11k or under 10.8 by that time :)

[15:02] {shorty} Going to Vegas?

[15:02] {Threei} have fun larisa!

[15:02] {Les} ciao

[15:02] {fernp} bye larisa, enjoy

[15:03] {magoo} bye larisa

[15:03] {RonS} cya larisa

[15:04] {larisa} Vegas in the week of April 19th, so shorty think of the number hard :)

[15:04] {larisa} thanks guys

[15:04] {shorty} lol....Bye Larisa

[15:05] {RonS} oh no, now 3i will be depressed and surly...

[15:05] {strider} depressed maybe. Always surly.

[15:06] {Les} stopped.88

[15:06] {Threei} strider is right

[15:06] {Threei} what makes you think you will notice any difference, Ron?

[15:07] {RonS} don't really know, but larisa seems to bring you humor

[15:08] {nemo} gotta' go c u

[15:09] {dino} cya larisa have fun

[15:09] {dino} cya nemo

[15:09] {Threei} take care nemo

[15:09] {RonS} bye nemo

[15:09] {Threei} no Ron, I am just scared of her

[15:09] {Threei} so I try to behave

[15:10] {RonS} ahso

[15:13] {Les} this ascending triangle in EK good for a hod break?

[15:13] {RonS} joez zipping

[15:15] {magoo} i think mgm breaks day high, lvs hits 24.90 area

[15:15] {dino} joez i think releases earnings tonight

[15:16] {dino} frx app lod

[15:16] {dino} opps maybe db

[15:19] {Threei} LVS broke

[15:19] {dino} xrtx to .14

[15:19] {dino} slipped .13, +.13

[15:20] {shorty} Looking at shorting ZION .97-.98

[15:21] {Threei} Pier 1 Imports Inc Update: Price Target raised to $6.50 from $5.50 at BofA/Merrill Lynch

[15:21] {Threei} they don't have real time quotes I see

[15:23] {shorty} Pier 1 has no real time quote?

[15:23] {RonS} mags pegged mgm

[15:23] {Threei} PIR

[15:23] {Les} shorty... lol

[15:23] {magoo} lvs soon

[15:23] {Threei} here comes LVS

[15:23] {Les} caught lvs on pullback . long .47

[15:24] {Threei} cool

[15:24] {magoo} offer it .77\

[15:24] {Threei} MGM started forming break of 15

[15:24] {Threei} looks imminent

[15:25] {magoo} half that is..other .89

[15:25] {Les} out .64

[15:27] {shorty} F'n Telus. My internet connection was lost again.

[15:27] {Les} had cable come round the other day...

[15:28] {dino} cml l .07, stop .96

[15:28] {Les} informing that 100'000Kbit connection was available to me

[15:28] {Les} I just laughed

[15:28] {Les} what am I supposed to do with that?

[15:28] {Threei} what do you have now?

[15:28] {Les} 20k

[15:29] {shorty} wow

[15:29] {Les} more than enough

[15:29] {shorty} I like Telus TV, but I might get a second internet connection for emergency.

[15:29] {Les} so my connection actually became 20% cheaper, and they want to entice me to higher tariff

[15:30] {Les} or learn to put in hard stops shorty, for safety's sake

[15:30] {dino} still on dial-up here

[15:30] {Threei} lol

[15:30] {dino} :O

[15:30] {Threei} 14.4?

[15:30] {Les} tell me its a joke dino

[15:30] {dino} yeeeessssssssssssssss

[15:30] {dino} cable

[15:31] {Les} I'm not a regular pirater of films and now download film service in switzerland, so...?

[15:31] {Les} no download

[15:31] {magoo} switzerland eh...?? lol

[15:32] {magoo} porn

[15:32] {Les} what, the cows?

[15:32] {Threei} keep the details

[15:32] {Les} heidi does daisy?

[15:32] {Threei} I so don't need the imagery

[15:32] {shorty} Lost connection again. Now I am scared to trade.

[15:32] {RonS} omg, and lari only gone 10 minutes...

[15:33] {Les} lol

[15:33] {Les} civilization breaks down

[15:33] {Threei} with patience and larisa away, vasilisa is the only girl in the room

[15:33] {Threei} so behave!

[15:33] {Les} how good is her english?

[15:33] {Les} am I going to embarrass myself?

[15:34] {RonS} rotfl

[15:34] {Threei} say thanks nemo is not here

[15:34] {strider} vad, thatt's really gross.

[15:34] {Les} aig 38 b/o

[15:34] {Threei} I could think of 10 answers on his behalf

[15:35] {strider} so, is that 'lisa to own'?

[15:35] {strider} AIG rocks.

[15:35] {Les} crap that was the big break in aig for the day

[15:36] {Threei} well MGM

[15:36] {Threei} can you or can you not

[15:40] {Threei} probably not

[15:41] {dino} frx lod

[15:43] {Les} try to remember frx for tomorrow

[15:43] {shorty} Have a good night all.

[15:43] {Threei} take care shorty

[15:43] {Threei} AIG all the way back

[15:44] {dino} esi wants 110 strike

[15:44] {fernp} good evening everybody. see you all tomorrow

[15:44] {RonS} bye fern

[15:44] {Threei} take care fern

[15:45] {dino} cya fern

[15:45] {Threei} ABII to Present Phase I/II Pancreatic Survival Data at 101st Annual Meeting of the American Association for Cancer Research (9.58, +0.01, 0.10%)

[15:46] {dptl} good evening all

[15:46] {Threei} take care dp

[15:47] {dino} cml to .02 not working

[15:48] {dino} hiding behind that 75k bid

[15:48] {dino} stopped -.05

[15:50] {magoo} mgm

[15:50] {Threei} didn't think it had it in it still

[15:50] {Threei} especially with LVS not really advancing

[15:50] {strider} what is so wonderful about MGM?

[15:51] {Threei} emerald green building

[15:51] {strider} ooooooohhhhhhhh!

[15:51] {Threei} beautiful color

[15:51] {strider} shoulda known that.

[15:51] {Threei} gorgeous lions

[15:52] {RonS} ...bull riding championship venue...

[15:56] {dino} vegas baby

[15:57] {Threei} tomorrow will be probably turbulent

[15:58] {dino} no 11k

[15:58] {Threei} I thought we would hit it earlier in the week

[15:58] {strider} only numbers tomorrow is wholesale inventories.

[15:58] {strider} at 10.

[16:00] {Threei} but whatever... as one stock clearly showed today, anything can happen

[16:00] {Threei} JOEZ

[16:00] {Threei} report

[16:00] {RonS} Joe's Jeans Reports 41% Increase in First Quarter Net Sales

[16:00] {Threei} R$23.2M v $16.5M y/y

[16:01] {Threei} Q1 $0.01 v $0.01 y/y

[16:01] {Threei} ok guys, thank you all

[16:01] {Threei} have a good evening, see you tomorrow