Friday, May 7, 2010

May 07 2010

Nice active day (no wonder, after yesterday's wild swings) with may trades on both sides. LVS, AIG, ITMN, NVDA, WFC, something else... When ISP started working in my area again, disconnects resumed but were not too prolonged so I could drop by to the room, make another call, then find out how it worked during next reconnection. Left it all in the log for the entertainment value.

Session Time: Fri May 07 00:00:00 2010

[08:16] {magoo} morning
[08:16] {Threei} hey mags
[08:16] {magoo} :)
[08:16] {Threei} can you believe I missed the show because of frikin ISP
[08:16] {magoo} NO, unreal..aapl hit 199
[08:17] {Threei} came online at 20:30
[08:17] {Threei} you guys handled it alright? no one got hurt?
[08:17] {magoo} it was scary vad, dow was down in like 60 seconds..200, 300, 4500, 700, 900
[08:18] {Threei} yeah, I know all abut it - after it was all over, lol
[08:35] {Threei} US) APR UNEMPLOYMENT RATE: 9.9% V 9.7%E
[08:35] {Threei} - Change in Manufacturing payrolls: 44K v 20Ke
[08:35] {Threei} Prior Nonfarm Payrolls revised higher from 162K to 230K
[08:35] {Threei} - Prior Private payrolls revised higher from 123K to 174K
[08:35] {Threei} - Prior Manufacturing Payrolls revised higher from 17K to 19K
[08:36] {nemo} not making much of an impact
[08:38] {larisa} yes, they need to change K to M.. then people 'll react :)
[08:47] {Threei} (UK) UK PM Brown: Willing to meet with other party leaders, Clegg and Cameron
[08:47] {Threei} willing?
[08:47] {Threei} lol
[08:48] {Threei} be back in 15... making my own breakfast is such a chore
[08:49] {dptl} good morning
[08:49] {strider} you need more 'people'.
[09:04] {fernp} Good morning everybody
[09:05] {nemo} hola fern
[09:05] {fernp} super nemo :-)
[09:05] {strider} morning folks.
[09:05] {strider} You have a good day yesterday, nemo?
[09:06] {nemo} actually, no
[09:06] {strider} mm....
[09:06] {Threei} dp, fern, strider :)
[09:06] {nemo} I've been out of sync lately...alot going on outside of trading
[09:06] {strider} :)
[09:07] {fernp} today is my last day here for a while
[09:07] {fernp} I'll be here again as soon as I resolve some issues. I wanted to say thanks to all of you and wish you the best guys
[09:08] {magoo} i hope everything works out fern
[09:08] {nemo} buenos suertes
[09:08] {fernp} gracias
[09:08] {nemo} de nada
[09:08] {Threei} fast healing fern
[09:08] {strider} will miss you, fern.
[09:08] {fernp} ty Vad, strider
[09:09] {magoo} vad, watch list ITMN F RIG FCX AIG RIMM WFC LVS
[09:10] {Threei} just give me entries and exits too
[09:11] {strider} And you you front me some bucks?
[09:11] {strider} could you?
[09:11] {strider} here
[09:11] {fernp} i have an email from MBT saying some trades from yest could be deleted
[09:11] {strider} here's money bags now.
[09:12] {Threei}
[09:12] {ese} all went for a wild ride just after i left......hows everybody doing
[09:12] {Threei} list of broken trades so far
[09:12] {ese} morning by the way
[09:12] {fernp}
[09:12] {Threei} ese :)
[09:13] {ese} fern say it isn't so
[09:13] {ese} good luck fern
[09:13] {fernp} ty ese
[09:15] {lasertrev} good morning
[09:15] {Threei} trev :)
[09:18] {RonS} gm all :) I will miss you Fern. You are a standup guy. All the best.
[09:18] {Threei} ron :)
[09:19] {Les} Fern's a dead duck is he?
[09:19] {Les} hey vad, you leading this murderous gang of pirates today?
[09:20] {Threei} unless ISP cuts me off again
[09:20] {Threei} rthey said they ashouldn't
[09:20] {Threei} but they still work in my area today
[09:20] {Les} so you'll get cut
[09:20] {Les} ok, who's vice captain in that event?
[09:21] {fernp} ty Ron
[09:21] {Les} Mags, you ready to take charge with 10 point aapl setups again if necessary?
[09:22] {shorty} good morning
[09:22] {Threei} shorty :)
[09:22] {Threei} Reportedly CFTC, SEC, NY Fed, US Tsy Sec Geithner and Fed Chair Bernanke discussed market plunge on two calls yesterday
[09:22] {Threei} Note: Yesterday evening the CFTC issued the following statement: The SEC and CFTC are working closely with the other financial regulators, as well as the exchanges, to review the unusual trading activity that took place briefly this afternoon. We are also working with the exchanges to take appropriate steps to protect investors pursuant to market rules.
[09:22] {Threei} We will make public the findings of our review along with recommendations for appropriate action
[09:24] {Threei} let's be careful today guys, residual nervousness can lead to wild swings
[09:24] {Les} you serious fern? yesterday didn't screw you I hope?
[09:25] {RonS} aig Could it rip?
[09:25] {Threei} Les, that's planned well in advance
[09:25] {fernp} no les
[09:25] {Les} sorry, reading earlier comments
[09:25] {fernp} was a fantastic day here
[09:26] {Threei} American International Group, Inc Reports Q1 adj $1.21 v $0.48e, R$16.3B v $22.4Be (unclear if comp)
[09:26] {jfjf64} mornin
[09:26] {Threei} jf :)
[09:27] {dino} gm all
[09:28] {Threei} dino :)
[09:28] {strider} morning dino.
[09:28] {dino} :)
[09:28] {dino} ctsh
[09:28] {jfjf64} whats the game plan 3i
[09:29] {Threei} wait for clean safe setups
[09:29] {Threei} be double careful
[09:29] {RonS} cytx
[09:30] {dino} fsys
[09:30] {RonS} ...nope cytx
[09:31] {Threei} thought of LVS short on .20 break
[09:31] {Threei} thought 1/2 of second too long
[09:31] {nemo} pcar
[09:32] {nemo} wrong window
[09:32] {Threei} bounce time soon LVS
[09:32] {jfjf64} you need more coffee
[09:32] {Threei} .85 long
[09:32] {Threei} if holding .75
[09:33] {Threei} half lot
[09:33] {Threei} invalidated
[09:33] {Threei} .80 break long
[09:34] {nemo} damn
[09:34] {Threei} out
[09:34] {Les} jumpy
[09:34] {jfjf64} damnnnnnnnnnnnnnnnnnnnn
[09:34] {shorty} I missed it
[09:34] {Les} IB has yet to respond to my order
[09:34] {Threei} first one? {G}
[09:35] {Les} yesterday IB failed to function end of story. software capitulation
[09:35] {Threei} let's see if seconf chance appears
[09:35] {Threei} want one more leg down
[09:35] {Threei} then another .80 recross
[09:35] {nemo} on what stock
[09:35] {Threei} ??
[09:36] {nemo} lvs
[09:37] {Threei} ok, need different trigger, .80 is too far
[09:37] {dino} fdx
[09:37] {Threei} and .70 happened too fast
[09:37] {dino} sm l .85
[09:37] {Threei} ABAT Announces new orders (3.19, +0.10, 3.24%)
[09:38] {Threei} Obtained approximately $1.7M in new orders for electric vehicles during the International Bicycle Expo held in Shanghai from April 27 to 30, 2010.
[09:38] {Threei} - received recognition for its products' superior performance and unique appearance design. During the Expo, the company signed sales contracts totaling approximately $1.7M (or 2,500 electric scooters) with five customers from Europe, including Germany, Denmark, and Netherlands.
[09:43] {Threei} ITMN
[09:43] {Threei} watching for pullback entry
[09:43] {shorty} around .35 range?
[09:43] {Threei} and WFC
[09:43] {Threei} WFC closer to .20
[09:44] {Threei} ITMN. not sure yet
[09:44] {Threei} .55 break...
[09:44] {Threei} risky
[09:45] {dino} fcx sm l .50 wide
[09:49] {Threei} QTWW Signs Definitive Production Supply Agreement with Fisker Automotive for the Exclusive Supply of Q-Drive(TM) Plug-In Hybrid Components and Control Systems for the Fisker Karma Program
[09:50] {ese}'ve been through a few of these.....anything similar to yesterday
[09:50] {Threei} yes
[09:50] {Threei} not on a scale
[09:50] {Threei} but not unique in essence
[09:50] {ese} hows that
[09:51] {Threei} these thing happened in the past - on a somewhat lesser scale
[09:51] {ese} other wer not a mistake?
[09:51] {Threei} they were
[09:52] {Threei} anyone remember a joke about Swiss bank trainees?
[09:52] {ese} oh this is not unique......machine or man made mistakes?
[09:52] {Threei} "today we practice Lean on Buy button"
[09:52] {Threei} both
[09:53] {dino} fcx stopped
[09:53] {Threei} joke took hold after big market move caused by swiss bank trader in training hitting wrong button
[09:55] {ese} that wasn't yesterday was it?
[09:55] {Threei} no
[09:55] {dino} some pretty big drops occurring
[09:56] {Threei} WFC
[09:56] {ese} ahhhhhhhh
[09:56] {dino} re-test in making perhaps
[09:56] {jfjf64} itmn
[09:57] {jfjf64} triple bot
[09:58] {dino} whippy
[09:59] {Threei} ok, getting inyerested in WFC
[09:59] {Threei} (US) White house adviser Romer: Monitoring Greek situation
[10:00] {Threei} idiot
[10:01] {Les} if everyone responded 'idiot' like that they'd stop reporting it. Then what would journalists do?
[10:02] {Threei} a lot of fear in the market
[10:02] {nemo} ya think?
[10:02] {Les} fsys read vad?
[10:02] {Threei} LVS
[10:02] {Threei} 21 break
[10:02] {jfjf64} pass the vodka
[10:03] {Threei} no, let's look for closer trigger
[10:05] {nemo} shit...should just hop on the down train
[10:05] {nemo} elevator
[10:05] {nemo} mixing metaphors
[10:06] {Threei} LVS
[10:06] {Threei} ugh
[10:06] {Threei} way too fast
[10:06] {strider} charts not keeping up
[10:06] {Threei} .60 break I had in mind
[10:06] {jfjf64} level 2 gonna explode
[10:06] {Les} small short F .47 try and let it run
[10:07] {Threei} crrrap
[10:07] {Threei} can't call fast enough when they jump like this
[10:07] {jfjf64} pass the vodka
[10:07] {Threei} 30 cents bounce
[10:07] {Threei} I mean 4
[10:07] {Threei} 40
[10:08] {Les} so you need to abbreviate the calls vad
[10:08] {shorty} I m not done jfjf64
[10:08] {jfjf64} lol
[10:08] {Les} we know the 5 cent bounce routine
[10:09] {Les} just give us idea of when we should be thinking about it
[10:09] {Threei} not when moves are this fast
[10:09] {jfjf64} yeah vad
[10:09] {jfjf64} lol
[10:10] {jfjf64} anybody got any jokes
[10:10] {shorty} Maybe a d/b on LVS coming our way.
[10:10] {shorty} No jokes here, you?
[10:10] {jfjf64} thid day
[10:10] {strider} well, there's Les.
[10:10] {jfjf64} this
[10:10] {jfjf64} day
[10:10] {shorty} lol
[10:11] {jfjf64} vxx 28.59 break
[10:11] {jfjf64} all in
[10:11] {Les} piss off hillbilly
[10:12] {Threei} I don't know jf...
[10:12] {Les} :( hurt my feelings
[10:12] {Threei} this is not a breakout one, this is pullback one
[10:13] {jfjf64} .33 stop
[10:13] {dino} ctsh sm l .75
[10:14] {jfjf64} pass the vodka pls
[10:14] {shorty} you got it
[10:15] {strider} this is too wild for me.
[10:15] {Threei} told ya, residual nervousness from yesterday\
[10:15] {jfjf64} .69 break vad
[10:16] {Threei} VXX?
[10:16] {jfjf64} y
[10:16] {Threei} nah
[10:16] {Threei} pullback for bounce
[10:16] {Threei} or half out on bounce half hold for break
[10:16] {Threei} but don't buy breaks on it
[10:16] {Threei} 4 out of 5 will fail
[10:17] {jfjf64} hmm lk that
[10:18] {Threei} OK, let's try for db LVS?
[10:18] {Threei} .60 break
[10:18] {jfjf64} you drivin
[10:20] {Threei} no go
[10:20] {shorty} out
[10:20] {dino} fast fall out ctsh -.10
[10:20] {jfjf64} vxx
[10:20] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
[10:20] {jfjf64} to fastttttttttttttttttttttttttttttttt
[10:20] {dino} markets saying fat finger trade my ass
[10:21] {Threei} fear incorporated
[10:21] {jfjf64} oh boyyyyyyyyyyyyyyyyyyyyyy
[10:21] {larisa} db I thought was downbreak, you use it for double bottom?
[10:21] {RonS} vix marching higher...
[10:21] {jfjf64} pass vodka shorty
[10:21] {Threei} yes laris... bd for breakdown :)
[10:21] {shorty} you got it
[10:21] {larisa} sigh
[10:22] {nemo} this is starting to feel like Fall of 08 a little
[10:22] {nemo} I remember, I took my "complimentary week" on the first down limit open
[10:23] {nemo} what chart server you using Vad?
[10:23] {Threei} 5
[10:25] {nemo} wonder if fas is regretting the split
[10:25] {Threei} sheesh VXX
[10:25] {dino} so where are the analysists that have been upgrading stocks a few days ago
[10:25] {Threei} lol dino
[10:25] {nemo} drinking
[10:25] {jfjf64} im sickkkkkkkkkkkkkkkkkkkkkkkkk
[10:26] {jfjf64} so sickkkkkkkkkkkkkkkkk
[10:26] {shorty} Pick a stock and short.
[10:26] {nemo} I always do that at the bottom myself
[10:27] {fernp} yes shorty, it is what i did. VRSN .69 short and VMED .59 short :-)
[10:27] {Threei} panic is about to subside
[10:27] {RonS} vix new 52 week high
[10:28] {shorty} WFC myself :D
[10:28] {nemo} why do you say that Vad, it's a friday, who wants to go long this weekend?
[10:28] {dino} bday coming, gut feel
[10:28] {Threei} who said anything about long into weekend?
[10:28] {dino} here comes the devalue euro talk, cnbc
[10:28] {dino} inflate it away boys
[10:28] {nemo} volumes high
[10:28] {jfjf64} oh boyyyyyyyyyyyyyyyyyyyyyy
[10:29] {jfjf64} 28.69 vxx
[10:29] {RonS} 42.15 vix
[10:31] {shorty} Did someone stop LVS?
[10:31] {dino} since 4/23 highs, dji -8.6%; ndx -12%; s/p -10%
[10:31] {Threei} [10:27] {Threei} panic is about to subside - 1 minute
[10:31] {Threei} shorty... what?
[10:31] {shorty} LVS is not moving on my screen
[10:32] {RonS} is on mine
[10:32] {Threei} that's your quote feed
[10:32] {Threei} it bounced good 50 cents
[10:32] {shorty} stuck at 20.03
[10:32] {magoo} TREV U HERE???
[10:32] {dino} fcx sm l .50
[10:32] {Threei} 20.17 now shorty
[10:32] {Threei} and moving up
[10:33] {shorty} Hugh...shut down and start again
[10:33] {Threei} this speed challenges even fastest software
[10:33] {Threei} let alone that thing you are using
[10:33] {dino} watching intc, f,
[10:33] {jfjf64} hey thats what my wife said to me last night shorty
[10:33] {Threei} 20.40 LVS
[10:34] {dino} roflol jf
[10:34] {dptl} lol
[10:34] {shorty} Actually, everything is stuck on my screen. I have Orbis.........loljfjf64
[10:34] {shorty} Back now
[10:34] {dino} need quotes?
[10:34] {ese} seems a bit of panic has set in again
[10:35] {jfjf64} y
[10:35] {shorty} Bought LVS .77 sold .85
[10:35] {dino} up
[10:35] {jfjf64} .44
[10:35] {jfjf64} in
[10:35] {ese} don't trust my quotes.....they seem to be all over the place...
[10:35] {dino} out fcx .90, +.40
[10:36] {dino} dji moving 50 pts in 30 seconds continuosly
[10:36] {dino} yesterday was 150, so tame
[10:36] {nemo} yeah, fear subsiding
[10:36] {nemo} not
[10:36] {dino} odd pwrd pos. again today
[10:37] {dino} snda too
[10:37] {jfjf64} lvs
[10:37] {Threei} dollar bounce
[10:37] {Threei} nemo.. are we looking at the same market?
[10:37] {Threei} mine bounced quite noticeably
[10:37] {nemo} 159 dow
[10:37] {nemo} -
[10:38] {dino} fire l .49
[10:38] {nemo} my chart servers keep dying
[10:38] {Threei} -120 now
[10:39] {Threei} -150
[10:39] {Threei} machines are choking
[10:40] {dino} imo be nimble
[10:41] {Les} crap put in a stop order but not a sell order on F. missed the $. gonna have to learn this on Laser
[10:41] {shorty} Forget about the market being a current, it's like trying to swim the Niagara gorge.
[10:41] {dino} ups sm l .out fire .65, +.16
[10:42] {dino} upsd .25 l sm was entry
[10:42] {shorty} way to go dino
[10:42] {dino} fcx watch
[10:43] {shorty} I am staying on the side, until the coach ( Threei) says so
[10:43] {dino} eggshells, so ups stop is .97
[10:43] {jfjf64} coach is drinkin
[10:43] {shorty} lol
[10:43] {Threei} if your siftware doesn't keep up, just stay on a sideline until fast market conditions abate
[10:43] {dino} stopped
[10:44] {Les} out F +.40
[10:44] {jfjf64} vxx was thinkin .96
[10:44] {dino} ctsh, fcx, fdx, ups
[10:44] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrrrrrrr
[10:45] {dino} ctrp back to pre-spilt
[10:45] {nemo} ?
[10:45] {dino} gj les
[10:45] {dino} intc waiting at .65
[10:45] {Les} ty
[10:47] {RonS} ...the 1 minute price range on LVS is amazing
[10:48] {dino} fcx sm l .25
[10:49] {shorty} missed that one dino!
[10:49] {dino} ups sm l .00
[10:50] {jfjf64} ing s .79
[10:51] {dino} out fcx .66, +.41
[10:52] {jfjf64} that a boy dino
[10:52] {dino} .25 seems goo entry is dji stays under -200
[10:52] {dino} good
[10:53] {dino} sm l .25 fcx
[10:54] {jfjf64} go dino
[10:54] {dino} out fcx .00, +.75\
[10:55] {jfjf64} nice
[10:55] {dino} ups dog...woof
[10:55] {dino} same plan imo, until it does npt work
[10:56] {dino} not; sheesh typos
[10:56] {dino} axe murderer market; "untrusting"
[10:56] {jfjf64} vad ya sleepin
[10:57] {Threei} trying to find anything more or less safe
[10:57] {jfjf64} k was gettin worried
[10:57] {dino} want so cheese w/that whine, lol
[10:57] {dino} some
[10:58] {Les} nasty dino
[10:58] {dino} bustin' him, he knows
[10:58] {jfjf64} ya buyin after fcx
[10:58] {dino} indeed
[10:58] {ese} wow...don't if your quotes are as out of wack as some of mine but....for instance .....nvda printing in the .90's....quoting in the }70's and .80's
[10:58] {dino} down we go
[10:58] {ese} must be some serious catching up goin on
[10:59] {dino} out ups .29, +.29
[10:59] {dino} this being 2 hours ahead really helps
[11:00] {Threei} NVDA is 13.83 ese
[11:00] {dino} es you need quotes?
[11:01] {Les} had this problem yesterday ese, but ok now
[11:01] {ese} printing .96 now vad
[11:02] {Threei} .99
[11:02] {ese} .99
[11:02] {Threei} yes
[11:02] {ese} just seems all over the map
[11:02] {ese} tks
[11:02] {ese} i smell money in NVDA though
[11:02] {dino} fcx sm l ..92
[11:02] {Les} yep
[11:02] {Les} nice b/o candidate imo
[11:03] {dino} .92 is nvda sorry
[11:03] {dino} fcx watch
[11:03] {ese} basic fundamentals with this one put it at 18 to 23 minimum
[11:04] {dino} going lower
[11:04] {dino} whoosh down, gut
[11:04] {ese} based on mrkt cap and p/e it's $18
[11:05] {Threei} (US) US House to hold hearings May 11 on the causes of the market decline yesterday
[11:05] {Threei} - subcommittee Chair Kanjorski says its unacceptable that technological error could trigger a market panic.
[11:05] {Threei} - seeks SEC investigation of the incident.
[11:05] {ese} basci fundamentals of the market ..."your paying for the right to participate in the future earnings stream of the company"....
[11:06] {dino} gut wrong
[11:06] {ese} wanna see what happens to nvda today then am gonna start accumulating
[11:06] {dino} ctrp sm l .01
[11:08] {dino} fdx sm l .99
[11:08] {dino} giddy-up, wants green
[11:09] {dino} nvda all things considered held well
[11:09] {magoo} mkts wants to run up[
[11:10] {dino} pwrd gave me the look, but i did not take it
[11:12] {Les} ty ese. out +.10 nvda
[11:12] {dino} out fdx .49, +.50
[11:13] {dino} gj les
[11:16] {dino} esi sm l .86
[11:16] {Threei} good trades guys
[11:17] {dino} walking that thing w/o trades
[11:17] {nemo} ?
[11:17] {dino} esi
[11:17] {dino} bid/ask gooing up w/o fills
[11:18] {ese} late call sorry....caught up L nvda .11
[11:19] {Threei} pullback is in order
[11:19] {ese} out .28
[11:19] {dino} wants positive first dji, imo
[11:19] {ese} +.17
[11:20] {dino} gj
[11:20] {ese} just really started to move there dino
[11:20] {ese} back in L nvda .11 again
[11:21] {dino} i conceede to 3i
[11:21] {ese} out .16
[11:21] {ese} +.04
[11:22] {ese} jesse livermore here......just going with the prints
[11:22] {dino} thats all there is
[11:22] {dino} no fundys
[11:22] {ese} can't add, that +.05
[11:22] {shorty} short opportunity with FCX dino?
[11:22] {dino} no
[11:23] {shorty} lol....k
[11:23] {dino} but what do i know
[11:23] {shorty} that no had conviction it seemed.
[11:23] {ese} L nvda .10
[11:23] {dino} all i'm doing is watching dji for fcx, it will tell you
[11:23] {Threei} LVS is likely to drop a bit under 21
[11:23] {shorty} what is dji?
[11:23] {Threei} then look for bounce
[11:24] {nemo} dow jones industrials
[11:24] {dino} $dji=dow
[11:24] {shorty} thx
[11:24] {ese} stopped nvda.-.05
[11:25] {ese} hmmmmmmm too many time to the well
[11:25] {dino} short was right shorty
[11:26] {shorty} Could have gone either way though
[11:26] {magoo} sh lvs .37
[11:27] {Threei} cober half mags
[11:27] {dino} out esi .59, -.23
[11:27] {Threei} cover 1/4 more here
[11:27] {magoo} cov .08 ty vad, u idea
[11:27] {nemo} omg...he lost on a trade....(faint)
[11:27] {Threei} and try for last one under 21
[11:28] {Threei} then let's switch to hunting for bounce
[11:30] {dino} darn esi chickened out
[11:30] {Threei} cover last piece here
[11:31] {Threei} ok, we are there
[11:31] {magoo} out .82 last 2k TY
[11:31] {Threei} [11:23] {Threei} LVS is likely to drop a bit under 21
[11:31] {magoo} WOW good fill laser
[11:31] {shorty} nice magoo
[11:31] {dino} good call on pullback 3i
[11:32] {magoo} vads call
[11:32] {magoo} ty boss
[11:32] {Threei} welcome sir
[11:33] {Threei} almost impossible to catch exact levels today
[11:33] {Threei} can do this kind of "zone" call
[11:33] {Threei} if you can get exact entry, great
[11:33] {Threei} if not, stay away, this is not your usual market
[11:33] {Threei} look how operfectly it bounced
[11:33] {dino} fdx sm l .25
[11:36] {magoo} like rig long
[11:36] {magoo} dangerous
[11:36] {magoo} took .00
[11:37] {ese} L NVDA .99
[11:37] {ese} STOP .79
[11:38] {Threei} anyone got LVS long from under 21?
[11:38] {dino} out fdx, .21 -.04,confused, taking few minute break
[11:38] {magoo} no bgo rig
[11:39] {Threei} (UK) Former BoE Member Blanchflower: ECB has fundamentally failed; financial crisis is still spreading
[11:39] {Threei} wow
[11:39] {Threei} quite a statement
[11:39] {Threei} IT) Govt reportedly feels it needs new budget measures in place by year end to meet its targets for deficits - unconfirmed report
[11:39] {Threei} - sees tax reforms as possibly increasing tax revenues
[11:40] {dino} olnly if they lower taxes
[11:40] {Threei} they don't know how to do that
[11:41] {Threei} politician grammar puts words tax and increase in the same line by default
[11:41] {dino} suppy-side works, but politically unpopular as too many don't pay anything
[11:42] {dino} esi ugh
[11:42] {Threei} WFC
[11:42] {ese} L nvda avg .00
[11:42] {Threei} 31 break
[11:42] {Threei} if stays above .90
[11:43] {ese} stop to .85
[11:43] {Threei} 1:1
[11:43] {Threei} half out or scalp
[11:43] {Threei} you decide
[11:43] {Threei} no such thing as "normal" today
[11:44] {magoo} in wfc
[11:44] {magoo} looking .30 area
[11:45] {dino} elx .50 l
[11:45] {Threei} 1:2, 1/4 more out
[11:46] {Threei} nice one on NVDA ese
[11:47] {ese} tks
[11:47] {ese} out nvda .15
[11:47] {ese} +.15 4k worth
[11:48] {dino} about 100 pts in 5 min.
[11:48] {dino} gj es
[11:48] {Threei} 1:3
[11:48] {Threei} out in full
[11:49] {magoo} out .34 WFC ty vad
[11:49] {ese} tks
[11:49] {Threei} me happy with today
[11:49] {ese} see ther i go agian....vad it should have been out 1/2 stop to beak even
[11:49] {Threei} ese... normally, yes
[11:50] {Threei} but today is anything but
[11:50] {ese} yes true.....
[11:50] {Threei} don't beat yourself up today
[11:50] {Threei} on days like this risk control becomes superduperextra priority
[11:50] {dino} air pocket market
[11:50] {Threei} have a look at WFC we just sold in 30s
[11:51] {ese} indeed
[11:51] {Threei} 25 cents drop faster than you can say mama
[11:51] {ese} was scary enough making those trades
[11:51] {Threei} or, faster than les can say nemo
[11:51] {Les} neo
[11:51] {Les} no
[11:51] {Les} nemo
[11:51] {Threei} see?
[11:51] {fernp} yes , yes
[11:51] {Threei} :)
[11:51] {fernp} incrdible
[11:52] {Threei} trust me guys,
[11:52] {strider} "nemo spelled backward is 'omen.'
[11:52] {Threei} if after 14 years of trading I say today is extremely dangerous,
[11:52] {dino} and dino is onid
[11:52] {Threei} you have all the reasions to be scared
[11:52] {magoo} his last name is neimad
[11:52] {Threei} lol
[11:52] {Threei} here is he thing about days like this:
[11:53] {shorty} Ya, but some of us are stupid and young Threei.
[11:53] {Threei} later on you hear al kinds of legends about fortunes made in one day
[11:53] {Threei} 99% of them are myth,
[11:53] {Threei} but main thing is:
[11:53] {dino} rule#1\
[11:53] {Threei} you will never hear real ones about firtunes lost
[11:53] {Threei} and 99% of those are true
[11:54] {dino} rule#1
[11:54] {nemo} don't lose the money
[11:54] {Threei} don't pee against the wind?
[11:54] {dino} you must stay in the game
[11:54] {strider} don't tug on superman's cape.
[11:54] {nemo} Don't mess around with Jim
[11:54] {strider} bad omen.
[11:54] {nemo} what?
[11:55] {strider} meaningless.
[11:55] {dino} you must stay in the game! rule # 1
[11:55] {shorty} thanks for FDX dino.
[11:55] {dino} np
[11:55] {shorty} Getting easier to handle your trades.
[11:55] {Threei} ok dino, I will make "don't pee against the wind" #2...
[11:56] {dino} irish rule, wind at your back, very similar
[11:56] {dino} being a mc and all
[11:56] {Threei} to finish my last diatribe,
[11:56] {Threei} market is a big cemetery with tobstones saying" he was a brave trader"
[11:57] {Threei} tombstones too
[11:57] {dino} ctrp out .42, +.41
[11:57] {shorty} lol Threei
[11:59] {dino} clf, mos, pwrd, pot, dv, esi, apol all positive
[11:59] {RonS} aig winding up to rip?
[12:00] {Threei} probably but not against the market
[12:01] {Threei} keep an eye on it, it can be good one if timed right, and keep shares to half
[12:01] {Threei} ese
[12:01] {Threei} glad now you sold NVDA?
[12:01] {RonS} ...old broker saying: winners make money, losers lose, but brokers always make money: two out of three ain't bad.
[12:02] {Threei} you could have simply replace it again at the same price
[12:04] {Threei} Ron, my favorite version is:
[12:04] {Threei} winners make money, losers lose money, and sometimes it rains
[12:05] {dino} i prefer, sometimes you eat the bear, sometimes the bear eats you
[12:05] {Threei} and sometimes it rains
[12:06] {dino} lol
[12:06] {Threei} and, to round it off:
[12:06] {Threei} some days you are windshield, some days you are a bug
[12:06] {Threei} well... and some days it rains
[12:07] {RonS} ...we are but mice treading where elephants play...
[12:08] {RonS} ...and sometimes it rains
[12:08] {Threei} you got it :)
[12:08] {nemo} while standing under the elephant...that ain't rain
[12:08] {RonS} lol
[12:10] {Threei} AIG...
[12:10] {nemo} .25 break?
[12:10] {nemo} nope
[12:11] {dino} lol
[12:11] {Threei} that was the idea at the moment, nemo
[12:11] {RonS} ...thinking it may be the wrong time of day...
[12:11] {Threei} could take shape again
[12:11] {Threei} scary as taking bacon from my breakfast plate
[12:11] {RonS} i want to see some volume
[12:11] {nemo} just gotta' whack you on the back of the head first
[12:12] {Threei} .25 is a big offer, volume will spike if it's taken
[12:12] {Threei} and make sure you are quick.. because when I see bacon, I am diabolically focused
Session Close: Fri May 07 12:13:24 2010

Session Start: Fri May 07 12:13:24 2010
Session Ident: #discussions
02[12:13] * Disconnected
02[12:21] * Attempting to rejoin channel #discussions
03[12:21] * Rejoined channel #discussions
[12:21] {dino} fdx
[12:24] {magoo} out aig .34
[12:24] {magoo} ty vad
[12:27] {shorty} resistance of 84 you are looking at dino for FDX?
[12:27] {dino} -100 pts in about 10 min
[12:27] {shorty} support
[12:27] {dino} support
[12:28] {dino} y, but 83.75
[12:28] {dino} watch dji
[12:28] {shorty} ok....thanks, will watch
[12:29] {dino} we could easily drop 100 more pts
[12:30] {dino} not to mention my soup is getting cold
[12:30] {shorty} lol
[12:32] {dino} feels lower
[12:32] {dino} sitting
[12:32] {larisa} go eat
[12:33] {dino} ;)
[12:33] {Threei} back
[12:33] {shorty} how said you can't lose weight while trading?
[12:33] {Threei} small disconnection, promised to be done very soon
[12:34] {Threei} I talked to a guy working nearby actually, instead of rep
[12:34] {Threei} what was the lasty line by me you saw?
[12:34] {dino} soon w/cable guy is 1 to 12 hours
[12:34] {larisa} [12:34] {&Threei} what was the lasty line by me you saw? last one
[12:35] {Threei} sigh
[12:35] {larisa} :)
[12:35] {dptl} lol
[12:35] {Threei} 12:11] {nemo} just gotta' whack you on the back of the head first
[12:35] {Threei} [12:12] {Threei} .25 is a big offer, volume will spike if it's taken
[12:35] {Threei} [12:12] {Threei} and make sure you are quick.. because when I see bacon, I am diabolically focused
[12:37] {Threei} .40 break next trigger
[12:37] {Threei} just as dangerous
Session Close: Fri May 07 12:38:13 2010

Session Start: Fri May 07 12:38:13 2010
Session Ident: #discussions
02[12:38] * Disconnected
02[13:57] * Attempting to rejoin channel #discussions
03[13:57] * Rejoined channel #discussions
[14:00] {Threei} sigh
[14:00] {dptl} :) finally
[14:00] {Threei} they are rebuilding whole street, and I am getting disconnected as they move to the next pole
[14:01] {nemo} so you'll be leaving again
[14:01] {Threei} talked to them just now, they said my house is affected by two more poles
[14:01] {Threei} each pole takes about 40 min
[14:01] {Threei} so I am on while they relocate from pole to pole, lol
[14:01] {shorty} What do you think dino, UPS?
[14:01] {Threei} what did I miss?
[14:01] {Threei} you know about Times Square evacuation, right?
[14:01] {nemo} not much
[14:02] {nemo} yeah
[14:02] {Threei} ok...
[14:02] {Threei} be careful folks
[14:02] {Threei} anything can happen on Friday like this
[14:03] {Threei} I believe even wtiht two more disconnects I should be online before day ends
Session Close: Fri May 07 14:03:14 2010

Session Start: Fri May 07 14:03:14 2010
Session Ident: #discussions
02[14:03] * Disconnected
02[14:06] * Attempting to rejoin channel #discussions
03[14:06] * Rejoined channel #discussions
[14:06] {Threei} US) Former Fed Chair Greenspan: 14% of assets in banking institutions should be equity capital
[14:06] {Threei} - risks on investments should be limited to shareholders of equity
[14:09] {dino} cut it
[14:09] {Threei} anyone got AIG of .40?
[14:09] {Threei} [12:37] {Threei} .40 break next trigger
[14:09] {Threei} just before disconection
[14:10] {dino} i've gone cold
[14:11] {Threei} come on... dollar and half run, someone should have gotten at lwast part of it
[14:12] {nemo} yeah, jf did and a few others got in for awhile
[14:12] {shorty} dino, that UPS trade might have ended my day.
[14:12] {RonS} ...3i...held aig from .30 +1.00
[14:12] {Threei} whew
[14:12] {Threei} thank you :)
[14:12] {Threei} my day is not wasted then
[14:12] {RonS} shoulda held for 2.00
[14:12] {dino} i was stopped.
[14:13] {RonS} i almost shook out...
[14:13] {RonS} i think aig may regain some legitimacy
[14:15] {RonS} slw l .30
[14:16] {Threei} lol, would be crazy of me to enter any stock knowing I can lose connection any moment
[14:17] {RonS} kidding...
[14:20] {magoo} btw, i hit AIG for u
[14:20] {magoo} busy today
[14:20] {Threei} :)
[14:20] {Threei} mags, dcc
[14:25] {dino} mkt dump
[14:25] {RonS} slw scratch...gdx started nosing
[14:27] {dino} ups sm l .54
[14:27] {Threei} hmmm... they moves to the next pole, but i am up... phone went down though, lol
[14:29] {RonS} ...surprised your stuff isn't underground...after all, it is the left coast
[14:29] {Threei} part of it is
[14:29] {Threei} part is above
[14:30] {Threei} they discuss it often but the cost of total redoing is mind boggling
[14:30] {Threei} so they hide under the ground parts of it when do some oher unavodiable work
[14:30] {Threei} in 200 years it all will be under the ground,
[14:31] {RonS} lol
[14:31] {Threei} or the big one hits,
[14:31] {Threei} and they will have to rebuild everything anyway
[14:31] {RonS} ...much more likely
Session Close: Fri May 07 14:39:28 2010

Session Start: Fri May 07 14:39:28 2010
Session Ident: #discussions
02[14:39] * Disconnected
02[14:39] * Attempting to rejoin channel #discussions
03[14:39] * Rejoined channel #discussions
[14:39] {shorty} dino is slurping cold soup
[14:39] {RonS} out ctrp +.24 u da man dino
[14:42] {shorty} dino is the man.
[14:42] {Threei} magoo says so too
[14:42] {dino} gj ron, sorry was away
[14:43] {RonS} np thanks
[14:43] {shorty} out + 26 dino
[14:43] {Threei} befroe they disconnect me again, guys,
[14:43] {dino} gj shorty
[14:43] {Threei} AIG, bounced right into upper envelope
[14:43] {Threei} of downtrend channel
[14:44] {shorty} Still in a hole for today though.
[14:44] {Threei} ugh, not available for shorting
[14:44] {Threei} just tried
[14:45] {RonS} aig i think $40 cap but when it breaks it gors to at least 50 fairly quickly
[14:46] {Threei} if anyone has it available and went for short, keep stop above .55
[14:47] {Threei} and look to start covering into next leg down
[14:47] {Threei} around .30
[14:47] {Threei} right here, first cover
[14:47] {shorty} I covered at .38
[14:47] {RonS} ...can you imagine knowing when the Feds are near the end of selling the C position; then reverse split a la AIG and badabing.
[14:47] {Threei} a bit prematurelay... AIG is capable of more
[14:48] {shorty} After you said it too. Shucks
[14:48] {shorty} ty though
[14:48] {Threei} C is a bit different than AIG
[14:49] {Threei} but, heck
[14:49] {Threei} stranger things have happened
[14:49] {Threei} shorty, let's at least complete this trade on paper, practice sake
[14:49] {shorty} ok
[14:50] {Threei} at this point stop for the balance moves to above .40
[14:50] {dino} ironically, reverse spilts are supposed to be bad. used to stay on exchanges
[14:50] {Threei} cover 1/4 more near .20
[14:50] {Threei} they are dino... AIG is just one of rare exceptions
[14:50] {Threei} not first, it happened before... but seldom
[14:50] {dino} "exception" is key
[14:50] {Threei} normally it's a kiss of death
[14:51] {shorty} 1/4
[14:51] {Threei} OK, 1/4 more covered AIG
[14:51] {Threei} stop to .35
[14:51] {shorty} stop.30?
[14:51] {shorty} ok
[14:51] {Threei} after loss of .10 choices are:
[14:51] {Threei} cover
[14:51] {Threei} or continue trailing
[14:52] {Threei} personal preference
[14:52] {Threei} if covering, well, trade is completed for about 50 cents
[14:52] {Threei} if want to try and milk last part, stop to above .30
[14:52] {Threei} after 39 loss to above .20
[14:53] {shorty} done
[14:54] {Threei} to above .25 now
[14:54] {Threei} topped last bounce at .24
[14:54] {Threei} why hold it if starts making higher highs
[14:54] {Threei} get the logic?
[14:55] {Threei} it's simple really
[14:55] {Threei} like rake
[14:55] {shorty} got it, very clear when it's broken down like that.
[14:56] {Threei} that's me
[14:56] {Threei} mr clear when sober
[14:56] {nemo} ?
[14:56] {Threei} done with last piece
Session Close: Fri May 07 15:05:02 2010

Session Start: Fri May 07 15:05:02 2010
Session Ident: #discussions
02[15:05] * Disconnected
02[15:05] * Attempting to rejoin channel #discussions
03[15:05] * Rejoined channel #discussions
[15:06] {Threei} ad back on again
[15:06] {nemo} ?
[15:06] {Threei} nemo... you are going through 4 years old stage or what
[15:06] {nemo} what does "ad back on again" mean?
[15:06] {Threei} ad = and
[15:07] {nemo} oh
[15:07] {nemo} now, is it you that are back on or the aig short?
[15:07] {Threei} now... what was last? about, right before I was disconencted? :)
[15:07] {fernp} you are here
[15:08] {Threei} really hope it was last disconnect
[15:08] {Threei} lost count of ples these cable guys went through, not sure it's the last one they just left
[15:09] {Threei} BP Containment dome is now being installed at leak on ocean floor - Coast Guard
[15:10] {strider} You all have a good weekend. See you monday.
[15:10] {strider} Fern, take care. Hope you'll be back soon.
[15:10] {RonS} cya strider
[15:10] {Threei} take care strider
[15:11] {nemo} P&Q strider
[15:11] {fernp} ty st
[15:11] {strider} I'm up all 4 of my trading days this week. Not much. But it's green.
[15:11] {fernp} congrats strider
[15:11] {strider} Hey, I'm in triple digits for the week. :)
[15:11] {Threei} wtg
[15:11] {strider} I bet dino's impressed. :)
[15:11] {dino} cya strider
[15:12] {dino} awesome job
[15:12] {Threei} and this was not the easiest trading week this cenurt
[15:12] {nemo} ?
[15:12] {Threei} oh boy
[15:12] {shorty} Yesterday put me back a lot. Blew two stops that hurt. Market was faster than my finger.
[15:12] {nemo} I'm down this week
[15:12] {dino} i was neg. yesterday until that crash, then went positive
[15:12] {dino} luv chaos markets
[15:13] {shorty} lol......
[15:14] {Threei} AIG
[15:14] {Threei} long if breaks .80
[15:15] {shorty} frozen here
[15:15] {nemo} invalidated?
[15:15] {Threei} yes, too far from there now
[15:15] {dino} whoosh down imo
[15:15] {Threei} wanted to see that huge offer taken as indication
[15:15] {nemo} I would think market should sell off from here
[15:15] {dino} need quotes shorty?
[15:15] {shorty} lol....yup
[15:15] {Threei} shorty, your broker is not good for these fast conditions
[15:15] {dino} what ones
[15:16] {shorty} ups
[15:16] {dino} .47
[15:16] {dino} 63.47
[15:16] {shorty} thx....had it short .66
[15:16] {dino} bouncing
[15:17] {shorty} Back up.
[15:17] {shorty} covered .50
[15:17] {dino} gj
[15:18] {shorty} Thanks. I like these type of stocks. I have a feeling that I might need to deposit more cash in my account though if I trade like I did yesterday.
[15:21] {dptl} have a good weekend all.......see ya monday
[15:21] {shorty} Good weekend dptl
[15:21] {RonS} have a good one dp
[15:21] {dino} cya dp
[15:21] {Threei} take care dp
[15:22] {dino} vip
[15:22] {Threei} next week will be very interesting
[15:23] {Threei} no boredom in cards
[15:23] {nemo} yeah, depending on what happens this weekend :)
[15:23] {Threei} whatever happens, I believe boredom is not going to be an issue, lol
[15:23] {nemo} nope
[15:23] {nemo} tranquilizers
[15:24] {strider} in-valium-idated?
[15:24] {Threei} I have to say, these internet dsconnections were the most unnerving componenet for me
[15:24] {Threei} should be over today
[15:25] {Threei} imagine having open position in yesterday's market and lose internet
[15:26] {RonS} u were lucky...seeing -50/+50 .spx in minutes was unnerving
[15:26] {Threei} thank goodness I got kicked off before that hoopla started
[15:26] {Threei} nah, I would be delighted tio see that show
[15:26] {nemo} Imagine having Fidelity as a broker trying to cancel orders, and having to call to get the cancel go through as your getting killed
[15:26] {RonS} ...but dino held us tough...
[15:27] {Threei} Fidelity?
[15:27] {Threei} for day trading?
[15:27] {Threei} anyone who does that fully deserves to get his a$$ kicked
[15:27] {nemo} two years ago in the middle of a trade when the day ended, cancel order got backed up.oooooooowwwwwwww
[15:27] {RonS} ...hey i use Fidelity ATP and it works just fine...
[15:27] {nemo} Yeah, well I learned. THE HARD WAY
06[15:27] * nemo slaps RonS around a bit with a large Lead Pipe
[15:27] {Threei} lol
[15:28] {RonS} ...two years ago they did have burps...but it has been stellar since...
[15:28] {nemo} make sure you don't cancel orders to close to close with Fidelity Ron....there execution gets backed up
[15:28] {nemo} Frickin' $2500 burp
[15:28] {Threei} Ron... you are not kidding?
[15:28] {dino} thx ron
[15:29] {RonS} ...i am not kidding
[15:29] {Threei} well... I think you just never tried real broker then :)
[15:29] {Threei} or you would know just how slow yours is
[15:29] {dino} you direct access ron?
[15:29] {nemo} yeah, executions LASER sneaks in amazes me
[15:30] {RonS} ...prob not...but i have many accounts to manage
[15:31] {Threei} Market Internals update at 15:30ET
[15:31] {Threei} - NYSE volume 1.89B shares, about 130% above its three-month average; decliners lead advancers by 5.6:1.
[15:31] {Threei} - NASDAQ volume 3.56B shares, about 80% above its three-month average; decliners lead advancers by 3.4:1.
[15:31] {Threei} - VIX index +19.5% at just over 39.00
[15:31] {RonS} ...i have never used direct for stock...just options
[15:31] {dino} some china stocks holding, pwrd, snda, cagc
[15:32] {Threei} I would suggest to consider direct access for your day trading account...
[15:32] {RonS} ...if anyone ever wants an education on how to effectively execute options trades just ask.
[15:32] {Threei} once you try it, you will be scared to think you day traded with that
[15:32] {dino} could be magin calls hitting
[15:33] {nemo} or simply Friday afternoon after this week
[15:33] {RonS} ...maybe in a while Vad...
[15:33] {dino} good point
[15:33] {Threei} sure... it's not going anywhere
[15:33] {nemo} you know what they say about opinions Dino
[15:34] {Threei} justy scary to think you are doing intraday trades with nondirect access :)
[15:34] {dino} agree w/vad on the direct access ron, will blow you away
[15:34] {Threei} it's like you'll be making circles around yourself
[15:34] {Threei} so fast you are going to be
[15:35] {shorty} Have a good weekend everyone.
[15:35] {Threei} take care shorty
[15:35] {dino} cya shorty
[15:35] {dino} fdx sm l .60
[15:35] {Threei} looking maybe for one last short for today
[15:36] {RonS} ...agree that it has been a challenge with your trades.
[15:36] {shorty} Thanks Threei, dino for your picks.
[15:36] {jfjf64} now ya talkin
[15:36] {Threei} feels like most should want to dump what they have before going to weekend
[15:36] {jfjf64} put ya short hat on 3i
[15:37] {Threei} although who knows... if they patch Greece over the weekend, kicking the can down the road may give temporary lift to things
[15:37] {Threei} LVS
[15:37] {Threei} bouncing into resistance
[15:37] {Threei} too last
[15:37] {dino} fcx
[15:37] {Threei} late
[15:38] {larisa} interesting, i see it bottoming :)
[15:38] {nemo} trendline is up
[15:38] {Threei} FCX
[15:38] {Threei} 67 break
[15:38] {Threei} if stays under .15
[15:38] {Threei} half lot
[15:39] {dino} depends on mkt larisa
[15:39] {Threei} really
[15:40] {Threei} no go FCX
[15:41] {larisa} have a good weekend guys :)
[15:41] {Threei} see you on Monday larisa
[15:41] {dino} cya lari
[15:42] {dino} ugh missed fcx
[15:42] {dino} out fdx .00, +.40
[15:44] {RonS} awright i am done...have a good one all....;)
[15:45] {Threei} you too Ron
[15:45] {fernp} gotta go. Have a great weekend everybody. See you soon guys. Be happy :-)
[15:45] {Threei} take care fern, we will be here
[15:46] {dino} cya ron
[15:46] {dino} cya fern
[15:48] {dino} qcom held
[15:49] {dino} ok shorts time to start covering
[15:49] {dino} hans
[15:51] {nemo} Have a nice weekend folks
[15:51] {dino} cya nemo
[15:51] {Threei} take care nemo'
[15:51] {nemo} take it any way I can get it Vad...
[15:54] {jfjf64} mhk s .49
[15:55] {Threei} ok guys, adventurous week
[15:55] {dino} 4 min. jf
[15:55] {Threei} jf, you are aware of time, don't you
[15:55] {jfjf64} y
[15:55] {jfjf64} .99
[15:55] {Threei} that's dedication
[15:55] {Threei} lol
[15:56] {dino} gj
[15:56] {Threei} let's get well desrved weekend
[15:56] {jfjf64} good weekend all
[15:56] {Threei} see you all on Monday
[15:57] {dino} cya 3i
[15:59] {dino} my bad, forgot ctrp out .95 -.08