Wednesday, April 21, 2010

Apr 21 2010

"Can do no wrong" day. Longs on FITB, VMED, HBAN, ACAS - all for nice moves with very little risk, and to top it all - GS trade for a nice juicy $1.10.

Session Time: Wed Apr 21 00:00:00 2010

[07:56] {magoo} lRSdhlneeliJLF
[08:03] {strider} VITC
[08:29] {strider} GS big spike
[08:30] {nemo} that must be why fas spiked
[08:30] {Threei} and SPY
[08:30] {Threei} I don't see anything yet though
[08:32] {Threei} ahh
[08:32] {Threei} GS Trading higher, CNBC reports documents raise questions about case against the company; including testimony from the key witness Pellegrini
[08:37] {magoo} MS had good numbers
[08:39] {Les} mags, read this yesterday. interesting angle:
[08:39] {Les}
[08:39] {Les} morning
[08:39] {magoo} :)
[08:40] {Les} article is quite refreshing in that it comes from ex-con convicted for fraud
[08:40] {Threei} magoo, les :)
[08:41] {Les} hey vad
[08:42] {magoo} vadster:)
[08:42] {fernp} Good morning everybody
[08:42] {Threei} IMMU Reports results from two studies on the development of ribonuclease-based immunotoxins at the American Association for Cancer Research confere
[08:42] {Threei} fern :)
[08:59] {Les} BHP releases info pertaining to sec investigation
[09:00] {Threei} AKRX Akorn Announces FDA Approval to Re-Launch Erythromycin Ophthalmic Ointment USP 3.5 g (1.90, 0.00, 0.00%)
[09:01] {dptl} good morning
[09:01] {Threei} dp :)
[09:02] {RonS} gm all. WYNN Steve mulling hq move to Macau, says Vegas growth "retarded by O admin" along with general investment and employment
[09:02] {Threei} Ron :)
[09:03] {Les} steve doesn't like retards hey?
[09:03] {nemo} gotta' go c u 2morow insha alah
[09:03] {Threei} take care nemo
[09:06] {RonS} hban
[09:07] {Threei} HBAN Reports Q1 $0.01 v -$0.15e, R$634.7M v $617Me
[09:07] {ese} morning.....the big question many times is this site gonna kick me out today
[09:07] {Threei} ese :)
[09:07] {ese} vmorning vad
[09:07] {Threei} it doesn't... your connection to server goes on and off
[09:08] {ese} drove me crazy yesterday
[09:08] {Threei} yeah, I saw constant disconnects
[09:11] {Threei} slogan on RIMM's building: Blackberry a day keeps the apple away
[09:16] {vasilisa} gm all
[09:16] {Threei} vasilisa :)
[09:17] {vasilisa} Threei :) :) :)
[09:17] {RonS} ...hearing Spain and Portugal getting punded (unconfirmed) Euro in the 133's again...
[09:18] {Threei} that was kind of given, from the moment Greece crisis began unfolding...
[09:18] {Threei} Italy can't be far behind
[09:18] {Threei} GR) Greek employer federation calls for immediate activation of aid package for Greece
[09:19] {shorty} Good morning all
[09:19] {Threei} shorty :)
[09:19] {RonS} ...surprised ms up and wfc down
[09:20] {Threei} Wells Fargo & Co Reports Q1 $0.50 (ex items) v $0.42e, R$21.4B v $22Be
[09:20] {shorty} HBAN jumped too
[09:20] {shorty} Threei reported it already
[09:21] {Threei} Morgan Stanley Reports Q1 $1.03(incl tax benefit) v $0.57e, R$9.1B v $7.9Be
[09:22] {Threei} RWT Plans to issue private label mortgage securities in an effort to re-open the private MBS market - WSJ
[09:22] {Threei} - RWT trust issue totals $222M
[09:23] {Threei} keeping FITB on radar
[09:24] {RonS} hmmm: Morgan Stanley CFO: 'This Is The Year Of Execution'
[09:24] {dino} gm all
[09:24] {Threei} lol
[09:24] {Threei} dino :)
[09:25] {Threei} so, who is headed for gallows?
[09:25] {Les} name your favourite
[09:25] {dino} lol lot of heads will roll, year of executions
[09:25] {dino} algt bounce
[09:26] {RonS} euro airspace opening...
[09:27] {dino} igte, vitc
[09:27] {dino} gild
[09:27] {RonS} Analyst Actions: Jesup & Lamont Upgrades Allegiant Travel to Buy from Hold - Shares Higher in Pre Market 04/21 07:23 AM
[09:27] {dino} jnpr
[09:28] {dino} algt, aos, stt
[09:29] {dino} ioc
[09:29] {dino} no
[09:30] {lasertrev} morning
[09:30] {Threei} Long Setup: FITB .90 break
[09:30] {Threei} if holding .85
[09:30] {jfjf64} mornin
[09:30] {Threei} jf :)
[09:32] {Threei} over 1:1
[09:32] {ese} in
[09:32] {Threei} half out or scalp, you decide
[09:32] {Threei} half for me
[09:32] {jfjf64} ty
[09:33] {magoo} out .99 DL ty
[09:33] {Threei} 1:2, 1/4 more
[09:33] {Les} didn't wait long enough, but ty
[09:33] {shorty} All out here
[09:33] {Threei} stop b/e for the last portion
[09:33] {ese} .out +.08
[09:33] {ese} tks vad
[09:33] {shorty} ty Threei
[09:33] {Threei} welcome
[09:33] {fernp} ty Vad
[09:33] {Threei} missed HBAN, didn't feel it was ready..
[09:34] {Les} fitb holding well
[09:34] {shorty} Call it a day, going back to bed.
[09:34] {Threei} offering last portion .10
[09:34] {Les} gs up and away
[09:36] {jfjf64} mu
[09:36] {Threei} HBAN, pullback under .20 for entry
[09:37] {Threei} .30 break is valid setup, just more risky
[09:37] {Threei} FITB last target hit
[09:37] {Threei} 1:4
[09:37] {Les} nice partialling example
[09:38] {fernp} stop in HBAN, Vad?
[09:38] {magoo} GILD
[09:38] {magoo} GILD
[09:38] {Threei} under .25
[09:38] {fernp} ty
[09:39] {Threei} 1:1
[09:39] {fernp} ty
[09:39] {Les} yhoo selloff
[09:40] {dino} nuva
[09:40] {magoo} gild .50 - .80 out
[09:40] {magoo} ty vad
[09:40] {Threei} but of course
[09:41] {Threei} FITB still moving, wow
[09:41] {Threei} straight line up
[09:41] {magoo} yea fitb..coulda been rich
[09:41] {magoo} had 2k
[09:41] {Threei} look at our entry now, when we see the whole chart
[09:41] {Threei} is it brilliant or what
[09:41] {magoo} roflol
[09:41] {magoo} modesty
[09:41] {shorty} I love hindsight.
[09:42] {Threei} always :)
[09:42] {Threei} excuse me... it was called before the move
[09:42] {Threei} that's not a hindsight
[09:42] {shorty} I am tlaking about holding it
[09:42] {shorty} I should have hjeld it longer
[09:43] {Threei} trade management is totally separate issue
[09:43] {shorty} The entry was more then genius Threei. :D
[09:43] {Threei} there you go - was it that hard?? :)
[09:43] {shorty} lol
[09:44] {Threei} let me fix my shoulder that I dislocated patting myself on the back
[09:44] {Les} stx hod break?
[09:45] {Threei} can't tell
[09:45] {Threei} ACAS...
[09:46] {Threei} I'd prefer a pullback to 6.05
[09:46] {Threei} but may be a case of pure break
[09:46] {ese} dino.....gild
[09:47] {Les} tpx
[09:47] {shorty} ZION is like FITB
[09:48] {Threei} Long Setup: ACAS .15 break if holding above .10
[09:48] {dino} fcx
[09:49] {RonS} wow check wfc
[09:50] {shorty} crazy
[09:50] {dino} nuva sm l .00
[09:52] {Les} ms pullback to support. .65 break if holding .60?
[09:52] {Les} nope
[09:52] {Les} altr crash and burn
[09:53] {fernp} VMED, Vad 18 break?
[09:53] {Threei} absolutely
[09:53] {Threei} beauty of a chart
[09:54] {dino} gild sm l .55
[09:55] {Threei} perfect entry dino
[09:56] {Les} banksters day
[09:56] {Threei} very clean, pullback into support and strength reappearing
[09:56] {jfjf64} fitb
[09:57] {ese} an opinion on gild
[09:57] {dino} lucky
[09:57] {dino} up
[09:58] {magoo} [09:38] {magoo} GILD
[09:58] {magoo} [09:38] {magoo} GILD
[09:58] {dino} look earlier magoo, had gild up before open
[09:58] {Threei} wow HBAN
[10:05] {Threei} VMED 1:1, half out or scalp
[10:05] {shorty} Thanks fernp
[10:05] {dino} nuva stopped -.33
[10:05] {Threei} GE) German Fin Min Schaeuble: Would be a mistake to allow a Eurozone state to default, consequences are unforeseeable - comments to German legislature
[10:05] {Threei} no really?
[10:05] {Threei} how did Europe exist before that came along?
[10:05] {Les} so would printing huge amounts of money to bail them all out
[10:06] {Threei} yeah... but from their standpoint this latter choice means kicking the can further down the road
[10:06] {shorty} Still in ACAS?
[10:06] {fernp} HBAN pulback , Vad?
[10:06] {Threei} thus acceptable
[10:06] {Les} yeh
[10:07] {magoo} news vad FCX?
[10:07] {dino} gild flat
[10:07] {Threei} maybe if consolidates between .55 and .60 for couple min, fern
[10:07] {dino} nuva major fjob
[10:07] {Threei} nothing after 8 am mags
[10:07] {Threei} earnings back then'
[10:08] {Threei} FCX Reports Q1 $2.00 v $1.91e, R $4.36B v $4.5Be
[10:08] {Threei} - Guides FY10 production: Copper 3.8B lbs, gold 1.8M oz, molybdenum 62M lbs
[10:09] {dino} looked good fcx
[10:09] {dino} rinses today
[10:10] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:10] {Threei} **consensus expectations:
[10:10] {Threei} Crude: -500Ke
[10:10] {Threei} Gasoline: +500Ke
[10:10] {Threei} Distillate: +800Ke
[10:12] {dino} fcx sm l .70
[10:13] {dino} nuva last try .00 l sm
[10:14] {Threei} FCX Exec: Growth in China continues to be very strong; rise in standards of living will continue demand for input products -conf call
[10:14] {Threei} - Have seen signs of demand recovery for products in pockets of the developed world
[10:15] {shorty} fernp, you still hold VMED?
[10:15] {fernp} no, sold at 1:1
[10:15] {shorty} Me too. Thanks for the call.
[10:16] {fernp} yw
[10:16] {Threei} COIN Receives Re-Order from Matosantos Commercial Corporation, Companys distributor to Walmart and Other Retailers for its Organic Fertilizer
[10:19] {dino} ctrp
[10:19] {Threei} NYMX Ticking higher after circulation of webpost highlighting drug pipeline potential
[10:19] {Threei} seekingalpha cites two twitter postings that are positive on its drugs
[10:19] {Threei} oh boy
[10:20] {Threei} twitter postings are now end all be all?
[10:20] {Les} hehe get with the times vad!
[10:20] {shorty} I only go by twitter. It's my new google.
[10:20] {Les} social networking
[10:21] {Les} acas holding nicely
[10:21] {Threei} I am so out of this era
[10:22] {Les} I tried these social sites and gave them all up. waste of time
[10:22] {Threei} I shudder of the very concept of twitter, and will let myself get shot rather that start posting there
[10:22] {ese} plxs also dino........L nvda .69 sm
[10:22] {Les} tpx news vad?
[10:22] {dino} nuva stopped, thing is broken
[10:22] {shorty} I was on facebook, but closed my account.
[10:23] {Threei} I don't want to network socially in real life, why would I want to do that in virtual one
[10:23] {shorty} lol
[10:23] {Threei} nothing fresh Les
[10:23] {Threei} earnings yesterday
[10:23] {Threei} upgrade today
[10:23] {ese} it's a nightmare vad.....once you start you can't stop....
[10:23] {jfjf64} comon vad
[10:23] {Threei} GM Reportedly discloses October launch of plug in hybrid electric Volt vehicle
[10:24] {dino} plxs good report/guid, hmm
[10:24] {shorty} You don't have a choice but to network ese.
[10:24] {jfjf64} old school
[10:24] {Threei} not for me ese - not networking comes very natural to me :)
[10:24] {Les} fcx
[10:24] {dino} gild db
[10:25] {dino} in les from .70
[10:25] {Threei} to network on the other hand, I have to apply effort... and we all know that in my fight with laziness I lose every single time
[10:25] {Les} missed reversal, looking for new setup
[10:25] {dino} hmmm good news being sold...
[10:25] {ese} im still watching gild dino
[10:25] {dino} me too
[10:25] {Threei} not everywhere dino
[10:25] {Threei} seems to be sector specific
[10:26] {dino} no but more than expected imo
[10:26] {Threei} finnies have no problem going up
[10:26] {shorty} Threei, this is why I like winter sometimes....."Shucks! A blizzard! I guess I will stay inside then."
[10:26] {fernp} QQQQ breakdown, Vad?
[10:26] {dino} gild jump
[10:26] {Threei} ummm... no thanks... I will pick summer, and sit home as a matter of choice, not being forced to :)
[10:27] {dino} plxs .25 trig l imo'
[10:27] {Threei} I don't want to play it fern
[10:27] {fernp} ok
[10:27] {Threei} it's just not something that worked in a long time
[10:27] {dino} or pullback to .75
[10:27] {shorty} I am learning Threei.
[10:27] {Threei} and I don't want to be a hero catching the veryu first day when it started working
[10:27] {KSystems} hey
[10:27] {Threei} KS :)
[10:28] {dino} stocks are jumping all around bigger today
[10:28] {Les} in fcx .76
[10:29] {shorty} ACAS is a flashback of NUAN for me.
[10:30] {Threei} *DOE CRUDE: +1.9M V -500KE;
[10:30] {Threei} GASOLINE: +3.6M V +500KE; DISTILLATE: +2.1M V +800KE; UTILIZATION: 85.9% V 86.0%E
[10:30] {Threei} what is so significant about NUAN?
[10:31] {dino} nothing
[10:31] {jfjf64} utx
[10:32] {dino} miised
[10:32] {Les} vad altr read?
[10:32] {Threei} asking shorty, dino... :)
[10:32] {dino} missed
[10:32] {Threei} ALTR is almost time to start hunting, IMO
[10:32] {Les} stopped fcx
[10:32] {Threei} not time yet but very soon
[10:33] {Les} .84 is pivot support
[10:33] {shorty} Didn't we hold it for an hour or something like that?
[10:33] {Threei} when??
[10:33] {Threei} last week or so?
[10:34] {shorty} I don't remember, I think so.
[10:34] {Threei} wow...
[10:34] {Threei} here is one of things to curte:
[10:34] {Threei} cure
[10:34] {RonS} no avail to short for me, but jef is flagging for a breakdown. should be good for .50
[10:34] {Threei} you put too much significance in any given trade, vs looking at trading as flow
[10:35] {Threei} none of them is worth remembering beyond 5 min after its over
[10:35] {Threei} ACAS 1:1 btw
[10:35] {shorty} lol.....OK Threei
[10:35] {Threei} I amserious, this is one of cornerstones of the right mindset
[10:35] {shorty} I don't know why I remember it. It's the feeling.
[10:36] {Threei} 1:2
[10:36] {Threei} I am out
[10:36] {strider} me too neither
[10:36] {strider} thanks vad
[10:36] {Threei} welcome sir
[10:36] {Threei} (US) Reportedly White House is examining current EPA Greenhouse gas emissions rules
[10:36] {shorty} TY Threei!
[10:36] {Threei} sure thing
[10:37] {shorty} How do you cure that THreei?
[10:37] {Les} pure malt whisky shorty
[10:37] {Les} lots of it
[10:37] {shorty} lol
[10:38] {Les} altr
[10:38] {Threei} see? Les has advanced nicely on the path of enlightment
[10:39] {Threei} you work on the mindset...
[10:39] {Threei} starting with right philosophy
[10:39] {dino} fcx stopped -.25
[10:39] {Threei} and deriving right mindset from it
[10:39] {jfjf64} utx
[10:39] {Threei} and no skipping the steps
[10:39] {Threei} shortcuts simply don't work
[10:39] {jfjf64} yeah
[10:40] {Threei} ACAS 1:4
[10:40] {ese} L nvda avg .63
[10:42] {shorty} I am working on the TPP.
[10:42] {dino} i am getting rinsed out like a dish rag
[10:43] {dino} gild .50 sm l
[10:44] {RonS} ...did you just sell at 50.00? :)
[10:44] {dino} sm l ctrp .90
[10:46] {dino} ? ron
[10:47] {Les} partialling out of altr
[10:50] {jfjf64} chrw
[10:51] {jfjf64} watchin 5 min
[10:51] {RonS} aig
[10:51] {jfjf64} invalid
[10:52] {jfjf64} pcp chart ready to go
[10:54] {dino} fcx
[10:54] {Threei} 73% Say Its Likely Goldman Sachs Committed Fraud
[10:54] {dino} fcx gap around 75.25
[10:55] {RonS} 100% say they are pollsters
[10:55] {strider} 73% are just guessing based on how they "feel".
[10:55] {Threei} being uncomfortable to be a part of a crowd and making my living by disagreeing with majority, this makes me what, GS accomplice?
[10:56] {RonS} fcx doubles divvy and gets shafted...
[10:57] {Threei} when you look under the hood of the poll however, some interesting things can be seen:
[10:57] {Threei} But Americans are evenly divided about whether the timing of the suit was based upon concerns about fraud or a desire to help the Obama administration politically.
[10:57] {Threei} 39% of Americans believe the government investigation of Goldman Sachs is based on a legitimate concern about fraud.
[10:57] {Threei} But 40% say the investigation is an effort to help the government gain more control over the financial industry.
[10:59] {RonS} ...these are the same people who have no idea where Canada is? suspicious sophistication...
[10:59] {Threei} lol
[11:01] {dino} thats the master plan, dumb them down and take over
[11:02] {Threei} then I say it's a good thing that most don't know where Canada is
[11:02] {dino} how do you think the middle east does it? keep them stupid
[11:02] {RonS} lol, but the Mexicans do...
[11:03] {Threei} keep them stupid and vodka cheap :)
[11:03] {RonS} ...or, just the vodka cheap...the Russian way...
[11:04] {ese} vad did you get into acas......i missed the call
[11:04] {Les} vad fcx read?
[11:04] {Threei} 09:48] {Alert} Threei Long Setup: ACAS .15 break if holding above .10
[11:04] {Threei} none yet Les
[11:05] {RonS} fcx seems to be pounding out a bottom...
[11:05] {ese} cool
[11:05] {shorty} Threei, PCBC. Thoughts?
[11:06] {Threei} none... not enough activity
[11:06] {ese} nvda stopped .55
[11:06] {Threei} but I am flattered you think I have thoughts
[11:06] {ese} -.08
[11:06] {shorty} No your not.
[11:08] {strider} Any news on MRK, vad?
[11:09] {Threei} not since before market
[11:09] {Threei} 07:35 MRK Obtains exclusive rights to market and distribute MassBiologics' Tetanus-Diphtheria (Td) Vaccine in the US
[11:10] {strider} Big red candle tody.
[11:10] {strider} today
[11:10] {Les} fcx gunning for 77 altr testing lod
[11:12] {dino} wants the gap
[11:12] {Threei} GS CEO Blankfein and VP Fabrice Tourre (the individual named in the SEC complaint) to reportedly testify before Senate committee on April 27
[11:13] {dino} plxs sm l .20
[11:21] {Les} fcx .25?
[11:22] {Threei} 50/50
[11:22] {Threei} no clarity
[11:22] {strider} EBAY short?
[11:23] {Threei} I doubt it
[11:23] {Threei} EBAY Hearing Deutsche Bank adds to short term Sell list (timing uncertain
[11:23] {Threei} look at VMED
[11:24] {Threei} nice find... good setup working no matter what
[11:25] {fernp} QID .61 long
[11:25] {fernp} stop under .55
[11:26] {Threei} nice one fern
[11:26] {fernp} 1:1 QID and easy
[11:26] {Threei} I didn't see this breakdown coming
[11:28] {RonS} ...first hint was dino getting stopped...
[11:31] {Threei} MS CFO: Firm has not received any Wells notices regarding its CDO business - conf call comments
[11:34] {RonS} ...that reversal in altr is a mind blower given their tie to aapl
[11:36] {Threei} I am fighting the temptation to call long on it
[11:37] {Threei} I'd say, by itself it's ready
[11:37] {Threei} market may keep it down more
[11:37] {Threei} but any bounce in the mnarket should rocket it
[11:38] {Threei} IMAX Signs theater deal in China (18.81, +0.12, 0.64%)
[11:40] {Threei} see?
[11:40] {Threei} anyone found entry, ALTR?
[11:40] {Threei} or IMAX?
[11:40] {Les} .60
[11:41] {Threei} single theater for now
[11:41] {Threei} Imax Corp Signs theater deal in China
[11:41] {Threei} - Signed an agreement to install a digital IMAXtheatre system at the exhibitor's new 16-screen multiplex in the city of Hangzhou, the capital of China's Zhejiang province. The theatre is scheduled to open in late June 2010, in time to show Aftershock, the first mainstream Chinese film to be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience.
[11:42] {dino} mos gap fill from yesterday
[11:42] {Les} half out .70
[11:42] {dino} ty ese, out plxs .95, +.75
[11:43] {Threei} wtg Les
[11:43] {Threei} US) Senator Sherrod Brown (D-OH) plans to introduce legislation to limit the size of US banks
[11:44] {dino} i introduce that we limit the amount of talking a senator can do
[11:44] {Les} 1/4 .80
[11:45] {fernp} MS .80 break , Vad?
[11:45] {fernp} wide stop, no?
[11:46] {Threei} sorry fewrn, I can't answer this question, I need 5 min more to laugh about dino's idea
[11:46] {Threei} but, no, I am not delighted by MS :)
[11:46] {dino} :D
[11:46] {fernp} lol
[11:47] {dino} hey, how about that olxs trade too
[11:47] {dino} plxs\
[11:47] {Threei} while we are on... can we widen that to cover president too?
[11:47] {Les} fcx 77 break?
[11:48] {Threei} ALTR pure unbridled beauty
[11:48] {dino} to all poly (many) tic(ians), bloodsuckers
[11:48] {Threei} can't tell FCX
[11:48] {Threei} ALTR 1:3
[11:48] {Threei} out Les?
[11:49] {Les} 1/4 left
[11:49] {Les} vwap 26.40
[11:49] {Les} figure it still has some value
[11:50] {Les} what's altr's relationship to aapl?
[11:51] {Les} spent today with fcx and altr, learning to play reversals
[11:52] {dino} mos sm l .70
[11:55] {Threei} (US) US Senate Agriculture committee votes 13-8 to pass derivates regulation bill out of committee
[11:55] {Threei} - Note: on 4/16 Senate Agriculture Committee releases the Wall Street transparency and accountability act; includes regulation of Counter swaps markets
[11:55] {fernp} MS .80 break was good :-)
[11:56] {Threei} hey
[11:56] {Threei} Mr Obvious is MY title!
[11:57] {Les} all out .97
[11:58] {Threei} wtg
[11:59] {Les} would be much greener if I stopped going long every time it looks like reversing and read all the factors needed for reversal
[11:59] {Threei} think about it this way:
[12:00] {Threei} there must be a reason why everyone and their brother tries to catch reversals,
[12:00] {Threei} there must be a reason why everyone and their brother are not successful,
[12:00] {Threei} there must be a reason why every pause on the way down looks like chance for entry but isn't,
[12:01] {Threei} there must be a reason why, after trading for a living for the last 14 years, I call reversals what, once for every 10 calls?
[12:01] {Threei} if that
[12:01] {fernp} gotta go. Have a good day everybody. See you all tomorrow
[12:01] {Threei} take care fern
[12:01] {RonS} cya fern
[12:02] {RonS} imax
[12:02] {shorty} bye fernp
[12:12] {Threei} Dutch media reports incident on Tuesday of cargo plane traveling from Germany to Netherlands found to have ash in its engines after landing
[12:12] {Threei} - inspectors today are expected to determine whether the engine was damaged by the ash.
[12:12] {Threei} - the carrier, World Airways, canceled a second cargo flight that day after the ash was found in the engine of the first plane - DeStentor
[12:14] {Les} that CEO of BA Walsh been loud enough about no need for stoppage
[12:14] {Les} BA plane goes down and he'd bitch that it's govts. fault. dumbass
[12:17] {Les} l altr .06 stop under 26
[12:18] {magoo} we in anything vad?
[12:18] {Threei} no
[12:18] {Threei} wow IMAX
[12:20] {Threei} General Motors Corp White House's Summer: US auto industry employment has stabilized, prospects for industry improving with the payback of bailout money
[12:20] {Threei} - govt still likely to experience a loss on auto bailout, but a smaller loss than forecast last year.
[12:21] {Threei} PALM Ticking lower as Dealreporter offers catious comments (timing uncertain) (4.87, -0.04, -0.81%)
[12:27] {Les} someone switched fcx back on
[12:29] {dino} yeah, that sucks i was waiting at 75.50
[12:30] {magoo} any read AIGay vad?
[12:30] {shorty} lol
[12:31] {Threei} for a scalp, maybe, on pullback to about 42.05 or so
[12:31] {Threei} for bigger trade, nah
[12:33] {magoo} any read on the golden sack vad?
[12:34] {shorty} ACAS Threei .25 b/o. Or is it done for the day?
[12:36] {Threei} I'd leave it alone
[12:36] {Threei} FITB .20 break is more interesting
[12:36] {Threei} ACAS that was
[12:36] {shorty} ty
[12:36] {Threei} GS, no
[12:38] {Les} stop under .10 fitb?
[12:38] {magoo} in fitb
[12:38] {Threei} for a daytrade yes, Les
[12:40] {Threei} AIG, if you took it, mags... take scalp IMO
[12:40] {magoo} missed it
[12:40] {Threei} ok
[12:40] {Threei} don't regret
[12:40] {magoo} gooreadd tho
[12:40] {Threei} was so so trade
[12:41] {Threei} it worked only because it knew I was in "can do no worng" mode today
[12:42] {dino} as 3i pats his own back
[12:42] {dino} out ctrp .44, +.54
[12:42] {Threei} with the other hand dino...
[12:42] {shorty} nice dino
[12:42] {Threei} one is hopelessly dislocated for the day
[12:42] {dino} ty
[12:43] {Threei} hand? arm I guess
[12:44] {Threei} European banks face an annual 19bn ($25bn) tax bill and as much as a 10% hit to profits if regulators opt for a US-style levy on individual balance sheets, according to analysis by KBW. The analysis comes in the week that the IMF published its own recommendations on bank taxes.
[12:45] {Threei} The impact of such a tax would vary dramatically between European banks, with Commerzbank, Royal Bank of Scotland and Crdit Agricole being among the worst hit. Standard Chartered, HSBC and UBS would be among the least-badly impacted
[12:46] {Threei} isn't the level of idiocy in the world simply astonishing?
[12:47] {Threei} KBW calculated the impact to profits at select European banks of a15bp flat tax on balance sheets. A selection of its finding are listed below.
[12:47] {Threei} Dexia 20.6% Commerzbank 13% RBS 10.9% Crdit Agricole 9.1% Deutsche Bank 7.8% Lloyds Banking Group 7.4% Barclays 6.9% BNP Paribas 6.2% Socit Gnrale 6% Credit Suisse 5.6% UBS 4.5% HSBC 3.9% Standard Chartered 2.2%
[12:47] {Threei} just go ahead already imbeciles, tax everything in sight
[12:47] {Threei} let it all collapse
[12:47] {Les} amen
[12:47] {dino} they are
[12:48] {Threei} maybe next civilization will finally learn the lesson of socialism not working
[12:48] {Threei} 'cause this one sure is hopeless
[12:48] {dino} politics of envy, you are witnessing it. you got it, i want it, can't fiogure out how to get it, so i'll destroy it. waiting for john galt
[12:49] {Threei} forgive me for serving the obvious remark but I can't help it... WHO IS JOHN GALT?? :)
[12:50] {dino} roflol
[12:50] {Threei} :)
[12:50] {RonS} I am John Galt
[12:50] {dino} dagny tagart will show first
[12:50] {RonS} :D
[12:51] {RonS} fitb .30 target or more?
[12:51] {Threei} kind of torn here...
[12:51] {RonS} rip torn?
[12:51] {Threei} one one hand, it held very well while market pulled back
[12:52] {Threei} on another, it's not a very active time...
[12:52] {dino} i believe next week hank reardon must appear before the senate;)
[12:52] {Threei} let's trail stop to under .15
[12:52] {Threei} and see what happens next
[12:53] {RonS} "I need to find a one armed economist so they can't say, on the other hand." Harry Truman
[12:53] {Threei} not sure about hank, but GS guys will, fino, lol
[12:55] {dino} my point
[12:55] {Threei} didn't think you liken them to him :)
[12:56] {dino} it works, going after the successful
[12:56] {Threei} see how ACAS lost will to live?
[12:57] {Threei} whole thing is disgusting spectacle
[12:58] {Threei} it's almost like whole crisis was caused by banks
[12:58] {Threei} no role for the governemnt enabling bad loans via FRE/FNM/AIG and social priorities,
[12:58] {Threei} no citizenry merrily borrowing without means of repaying,
[12:59] {Threei} and then only banks faciliating it all
[12:59] {Threei} takes three to tango, you know
[12:59] {RonS} bailed at .29 thx 3i
[12:59] {Threei} welcome sir
[12:59] {shorty} ty
[12:59] {dino} that was the beginning, fnm, fre easing of standards
[13:00] {Threei} in the beginning was CRA
[13:00] {Threei} then came FNM
[13:00] {Threei} the rest is well known
[13:00] {Threei} but revisionists are alive and well
[13:00] {dino} barney frank "they (fnm) will do whatever i want"
[13:00] {Threei} yup
[13:01] {Threei} because banks are the easiest thunderbolt for populist anger
[13:01] {dino} the victors write history...
[13:01] {Threei} public will feel better finding enemy and forgetting how it, public, participated in the crime by borroiwjng beyong means
[13:02] {Threei} politicians will happily route anger in that direction
[13:02] {Threei} and for detached observer it's three criminals,
[13:02] {Threei} two of which now take third to the court
[13:02] {Threei} well, actually they are the court
[13:02] {Threei} and firing squad
[13:03] {Threei} FCX Hearing being defended by Barclays (timing uncertain)
[13:03] {Threei} - Barclays has an Overweight rating and $120 price target on FCX
[13:05] {dino} "until and unless you discover that money is the root of all good, you ask for your own destruction. when money ceases to become the means by which men deal with one another, then men become tools of bother men. blood, whips and guns--or dollars. take your choice--there is no other. ayn rand, atlas shrugged
[13:05] {Threei} Fransisco's speech?
[13:06] {dino} or galt, one or the other
[13:06] {Threei} yeah, Francisco d'Anconia
[13:07] {Threei}
[13:07] {dino} ahh yes
[13:11] {shorty} Good article.
[13:12] {Threei} HBAN CEO: to timetable yet for repaying its TARP funds - CNBC interview
[13:12] {Threei} - notes HBAN took $1.4B in TARP funds (6.66, +0.83, 14.24%)
[13:13] {RonS} Pope promises "action" on sexual abuse crisis
[13:13] {RonS} ...isn't that the problem?
[13:13] {Threei} MCO Reportedly subpoened by the FCIC (Federal crisis inquiry commission)
[13:13] {Threei} Moodys Corporation Reportedly subpoened by the FCIC (Federal crisis inquiry commission)
[13:13] {Threei} - Subpoena comes after Moody's is alleged to have not complied with initial request in a timely manner
[13:13] {Threei} ***Note that the Financial Crisis Inquiry Commission is a five-member body appointed by Congress to "to examine the causes, domestic and global, of the current financial and economic crisis in the United States."
[13:13] {Threei} may we know the names of the bodies
[13:14] {Threei} as old classic russian play asks, "and who are the judges?"
[13:17] {Threei} well... chairman:
[13:17] {Threei} From 1999 to 2007, he served as California's State Treasurer
[13:17] {Threei} good job managing state finances I say
[13:18] {Threei} He put the weight of the state's pension funds behind investment in clean energy and the fight against global warming
[13:18] {Threei} enough for me, done researching this one
[13:20] {Threei} US) SEC's Shapiro: Financial regulatory bill makes regulatory oversight more complicated and cuts investor protections
[13:21] {RonS} ...curious run in the iyr
[13:23] {ese} .
[13:23] {ese} always have been ...just watchin
[13:27] {Threei} GR) Greece Fin Min: Will make decision on whether or not to trigger the aid mechanism soon
[13:27] {Threei} just how long this agony will continue
[13:28] {Threei} ask for aid, don't ask fo aid, but o something already
[13:28] {Threei} this is like that old joke from Soviet time, dialog in overcrowded bus
[13:29] {Threei} lady to a man: hey, you are lying on me for the last 10 minuites, enough already!
[13:29] {Threei} he: but I am not doing anything!
[13:29] {Threei} she: well, do something finally, next stop is mine!
[13:30] {Threei} nah... you spoilt brats don't know what overcrowded bus is... sigh
[13:31] {ese} L gild .63
[13:31] {dino} lol
[13:31] {ese} vads joke or my entry
[13:32] {Threei} lol
[13:38] {dino} algt gap fill
[13:39] {ese} out gild.77 +.14
[13:39] {Les} what's your read algt dino?
[13:40] {dino} feels like db coming from yesterdays low, then up
[13:40] {dino} so around 50.20 i will most likely take some long
[13:41] {Les} k ty
[13:41] {dino} and then i will go grab a soda or beer, not as sure on that
[13:42] {Les} what you some kind of girlie man?
[13:42] {Les} what with Mags' pub in area
[13:42] {RonS} whap, Les asks for it...
[13:43] {dino} :O
[13:43] {Les} enjoying a red Cote du Rhone villages myself
[13:43] {dino} les "the tippin'" trader
[13:45] {Les} along with 68 degrees. startin to warm up
[13:47] {dino} vmw
[13:48] {dino} real gutsy call by credit suisse vmw to 45
[13:54] {ese} in and out gild .80 .89 +.09
[13:54] {ese} went too fast to post
[13:56] {dino} gild to .96
[13:56] {ese} gotta get use to your out 1/2 type of trade's cost me alot of money
[13:56] {ese} like dino
[13:56] {dino} out +.46 took hours
[13:59] {RonS}, i hope that solvang babe makes it in...
[14:00] {Les} ?
[14:00] {dino} lol
[14:00] {RonS} solvang is a danish town in santa barbara county, ca
[14:00] {Les} cool
[14:01] {Les} out +.28 vmw ty dino
[14:01] {dino} gj
[14:02] {RonS} fitb reports a.m. Options are mildly bullish Does anyone think we can muster a run into the close?
[14:04] {Threei} Ron... just read the chart
[14:04] {Threei} all that guessing, you know...
[14:05] {RonS} true, just asking my Shorty q for the day...:)
[14:06] {Les} Ahhh Ron you fast learner
[14:06] {Les} me no longer bottom of pecking order ;)
[14:07] {Threei} it's just nemo's day off les {G}
[14:10] {ese} I'm liken the look of the doble botom 15min cht STLD
[14:13] {ese} L .55 gonna try this pullback 1min chrt
[14:19] {Les} vmw 61 short?
[14:20] {Les} aaah no
[14:22] {shorty} I don't know what to say...:(
[14:23] {Threei} neither do I... you about what?
[14:23] {Threei} 'cause my list will be very very extensive
[14:23] {shorty} The pecking order.
[14:24] {Threei} there are too many things I don't know what to say about...
[14:24] {ese} i'm out stld .55 +/-.00 out the commish.......was driving me crazy
[14:24] {Les} hehehe
[14:24] {Threei} oh, iy's just les's fantasy, shorty :)
[14:24] {shorty} lol
[14:25] {Threei} russian saying goes, pike's in the water so crucian doesn't nap
[14:26] {Threei} so, nemo's in the room so les doesn't feel too comfy {G}
[14:26] {Threei} and nemo is not in today
[14:27] {Les} crucian is... small, insignificant fish?
[14:27] {Threei} not in a sense of that saying
[14:27] {Threei} just predator/prey kind of relation
[14:28] {Threei} where pike is known for being a very agressive predator
[14:28] {Threei} and you have toa dmit, nemo is nothing is not agressive
[14:28] {Threei} is = if
[14:29] {Threei} even so the fish he is named after is a cutie, lol
[14:29] {shorty} lol
[14:29] {Threei} so = though
[14:29] {Threei} sigh
[14:31] {RonS} .spx lod
[14:32] {RonS} gs melting
[14:35] {RonS} gs
[14:40] {RonS} Altera Corporation (ALTR) rated Buy with price target $34 by UBSPosted on: Wednesday, Apr 21, 2010 2:25 PM ET by UBS
[14:40] {RonS} jef hits 24.50 as predicted
[14:43] {ese} L fitb .90
[14:46] {ese} Out fitb .94 +.04 5k
[14:47] {Threei} GS
[14:47] {Threei} bounce ready it seems
[14:47] {ese} entry vad?
[14:48] {Threei} late ese
[14:48] {Threei} .50 break was
[14:48] {Threei} no way to alert this one in time
[14:48] {ese} missed it
[14:50] {dino} pjc
[14:52] {Threei} if went for second chance entry GS, half out here
[14:53] {Threei} or just grab your profit and be happy
[14:53] {Threei} and magoo... don't tell me I don't accomodate your insatiable appetite for excessive risk
[14:54] {magoo} :)
[14:54] {Threei} I know you and jf whisper to each other behind the closed door how old and lazy I've become
[14:55] {dino} ctrp sm l .80
06[14:55] * Threei slaps jfjf64 around a bit with a large roll of cash
06[14:55] * Threei slaps magoo around a bit with a large roll of cash
[14:56] {jfjf64} lol
[14:56] {Threei} who partialed, look for next exit around 158.30
[14:56] {Threei} and last around .60-.70
[14:59] {Threei} second target hit
[15:02] {dino} back in ten
[15:05] {Threei} third and last target hit
[15:06] {Threei} +.1.10
[15:06] {magoo} very nice read boss
[15:06] {jfjf64} nice job vad
[15:06] {Threei} ty... I have my moments
[15:07] {shorty} nice one guys, I sat out for that one.
[15:09] {magoo} read on AIGay here vad??
[15:09] {Threei} move is coming
[15:10] {Threei} but I don't have confidence about direction
[15:10] {Threei} not enough to call it
[15:10] {Threei} shorty, don't regret sitting it out
[15:10] {Threei} trust me, it will take a long time before you can trade GS
[15:10] {shorty} ty
[15:10] {Threei} don't be a macho about it
[15:11] {Threei} it's simply a stock requiring a whole lot of experience
[15:11] {shorty} I was content with just watching.
[15:11] {Threei} cool
[15:11] {Threei} it's not a contest of who is gutsier
[15:12] {Threei} market is cemetery full of tombstones of dead breave lions
[15:12] {shorty} Reminds me of a quote from a soldier in WWII
[15:12] {Threei} old bold pilots?
[15:13] {shorty} No, he was watching the officers in action, and noticed they were always in the middle of the pact, never out front (bold) or never in the back.
[15:14] {Threei} my fave is,
[15:14] {Threei} There are old pilots. There are bold pilots. There are no old bold pilots
[15:14] {shorty} lol
[15:15] {Threei} I've seen a lot of brave souls who thought they can trade on bravery alone
[15:15] {Threei} none of them is still around
[15:16] {shorty} A really good friend of mine, his grandfather was a pilot in WWII. He never talked about it, but taped all his memories on cassette when he was alone. They found them after he passed away.
[15:16] {dino} xrtx strong
[15:17] {shorty} Bravery took me to this chat room Threei. I knew I would get killed if I tried it alone. I only have a set amount of funds to play with.
[15:17] {Threei} you and about 99.99999% of the rest of trading populace
[15:18] {Threei} those who have unlimited funds don't really trade, you know...
[15:18] {Les} I'm just here for the idle banter
[15:18] {Threei} they cruise oceans in their 140 ft yachts
[15:18] {Threei} true... that was in Les's sign-up e-mail
[15:19] {Les} "Our chat room needs a new class clown"
[15:19] {Threei} "I'll sign up for a while but I'll stay only if you provide no less than 2 hours of idle banter per day"
[15:19] {shorty} I would love to have a fishing boat on the BC coast. Go fish early in the morning. Peace and quit.
[15:19] {RonS} ...there may be no old, bold pilots; but there are an olds, bold pilot:
[15:20] {shorty} lol Les
[15:20] {dino} xrtx to .98
[15:21] {shorty} West Point, I wanted to go there when I was a kid.
[15:22] {dino} out xrtx +.48
[15:22] {Les} aig
[15:23] {Les} pullback here for long?
[15:30] {Les} l aig .75
[15:30] {Threei} probably, yes
[15:31] {RonS} ...3i smacks Les around with a bout of silence
[15:31] {RonS} :D
[15:31] {Threei} I was thinking
[15:31] {Les} sorry
[15:31] {Threei} well... trying to
[15:32] {dino} algt sm l .00
[15:32] {ese} in and out nvda .55 .61 +.06 10k what a pain in the a..
today such thing a easy money these days
[15:33] {Threei} come on
[15:33] {Threei} morning was the easiest in weeks
[15:33] {Threei} every trade worked like doctor's recipe for alcoholism
[15:33] {shorty} Was for me, thanks Threei.
[15:34] {ese} don't know what it is with me these days....been struggling since i got back from Italy
[15:34] {ese} thats funny vad
[15:34] {Threei} must be Italy's fault...
[15:35] {Threei} it spoils a man
[15:35] {ese} definitely
[15:35] {Threei} jf said the same when returned
[15:35] {RonS} nice dino
[15:36] {Threei} dcced me and said "threei... I am so spoilt"...
[15:36] {Les} and how. I'm going back for more in July. yum yum
[15:37] {ese} same bat time same bat channel tomorrow......cya
[15:37] {Les} ciao
[15:37] {shorty} Bye ese
[15:37] {Threei} take care ese
[15:37] {Les} out aig +.13 no spunk
[15:39] {RonS} ah: ebay, sbux, amgn, qcom
[15:40] {shorty} I am going to call it a day. A demain. Thanks Threei,
[15:40] {Threei} sure
[15:40] {Threei} seeyou tomorrow
[15:41] {dino} mhi
[15:42] {dino} cya short
[15:43] {jfjf64} good night all
[15:44] {Les} cya jf
[15:45] {Threei} take care jf
[15:46] {Les} aig
[15:46] {Threei} once again we snatch green from the jaws of red
[15:46] {Threei} well, providing we don't sell in the next 15 min :)
[15:47] {Threei} but resilience of this market is nothing short of absolutely remarkable
[15:51] {dptl} good evening all
[15:51] {Threei} dp :)
[15:51] {Threei} wait!!
06[15:51] * Threei slaps dptl around a bit with a large box of Russian Standard
[15:52] {Threei} go
[15:52] {dptl} oo..... :)
[15:54] {Threei} US) Senate Democratic Aide: Senate Democrats are planning proceedural vote on financial reform bill on 4/22, final vote on 4/26
[15:57] {dino} out ctrp .05, =.25
[15:58] {dino} = = +
[15:59] {dino} out algt +.01
[16:00] {Threei} okay guys, thank you all
[16:00] {Threei} have a great evening
[16:00] {Threei} see you tomorrow
[16:00] {Les} ciao
[16:00] {Threei} QCOM Reports Q2 $0.59 v $0.57e, R$2.7B v $2.6Be
[16:02] {dino} dropping
[16:03] {Threei} Guides Q3 EPS $0.51-0.55 v $0.55e, R$2.5-2.7B v $2.7Be
[16:03] {dino} +cmg
[16:05] {dino} nflx
[16:06] {Threei} NFLX Reports Q1 $0.59 v $0.54e, R$494M v $493Me