Wednesday, June 2, 2010

Jun 02 2010

Today's HAL long trade is a typical example of pullback entry. We wanted long on it, disliked breakouts in the current environment, so we took pullback entry after it defined the direction and demonstrated that it doesn't want to drop anymore even when market drops. 10 cents risk for 90 cents profit was our reward.

Later on we repeated the same with FAS long, for more modest but still nice 26 cents trade vs. 5 cents risk.
The day was not very active, we had couple small stops and couple discretionary scalps aside of two trades above.

Session Time: Wed Jun 02 00:00:00 2010

[08:40] {Les}
[08:40] {Les} morning :D
[08:41] {Threei} morning les
[08:41] {Threei} VVUS...
[08:42] {Les} wait a sec
[08:42] {magoo} vvus?
[08:42] {magoo} morning boss
[08:43] {Threei} magoo :)
[08:43] {Threei} had news yesterday
[08:43] {Threei} Yesterday 18:28 VVUS Releases positive results from Phase III study of Avanafil in erectile dysfunction rresented at AUA annual meeting
[08:43] {Threei}
[08:44] {Threei} - Evaluating the safety and efficacy of the investigational drug avanafil for the treatment of erectile dysfunction (ED), were presented at the American Urological Association (AUA) 2010 Annual Meeting. The data, "Avanafil for the Treatment of Erectile Dysfunction: Results of a Phase III, Multi-Center, Randomized, Double Blind, Placebo-Controlled Clinical Trial," were presented by Irwin Goldstein, MD, clinical professor of surgery, University of California, San Diego and director of sexual medicine at Alvarado Hospital, San Diego, California. The presentation marks the first time these results have been shared with the medical community at a major medical meeting.
[08:44] {magoo} does really move for a bio
[08:44] {magoo} does=doesn't
[08:45] {Threei} sometimes it does
[08:45] {magoo} ok, im not familiar
[08:46] {dptl} morning
[08:46] {Threei} dp :)
[08:54] {magoo} crap, GNA vad
[08:54] {magoo} missed it
[08:54] {Threei} Gerdau Ameristeel Corp. Gerdau SA Offers to purchase outstanding shares at $11.00/shr
[08:55] {magoo} AMGN too
[08:56] {Threei} AMGN yesterday after hours news
[08:56] {Threei} Yesterday 17:22 AMGN FDA Approves Prolia injectable Osteoporosis treatment for postmenopausal women
[08:56] {Threei}
[09:01] {magoo} lets keep 1 of your eyes on TM and F today
[09:01] {Threei} why?
[09:01] {magoo} auto reports today

Session Start: Wed Jun 02 09:07:57 2010
Session Ident: #discussions
03[09:07] * Now talking in #discussions
[09:08] {Threei} sorry, had to reboot computer
[09:08] {Threei} mags, they rarely move on that data
[09:09] {magoo} ok
[09:09] {Threei} unless something really exceptional is reported... usually it's widely expected
[09:09] {magoo} lets not forget fas today, i forgot it yesterday
[09:09] {larisa} gm :)
[09:10] {Threei} larisa :)
[09:10] {magoo} my quotes are sticking, what server u on?
[09:10] {magoo} lar:)
[09:10] {Threei} Preview: May US Vehicle Sales numbers expected throughout the day from major auto makers
[09:10] {Threei} **consensus estimates y/y:
[09:10] {Threei} - Ford (12:00ET): +16%e
[09:10] {Threei} - GM (10:45ET): +6%e
[09:10] {Threei} - Chrysler: +21%e
[09:10] {Threei} - Toyota: +8%e
[09:10] {Threei} - Honda: +22%e
[09:10] {Threei} - Nissan: +11%e
[09:10] {Threei} - Hyundai: +28%e
[09:10] {larisa} vad, magoo :)
[09:11] {Threei} EUR/USD UAE Central Bank member Tamim: Country holds almost all of its $33B of currency reserves in USD; Does not hold Euros
[09:16] {dino} gm all
[09:16] {Les} does not hold Euros until such time that parity occurs...
[09:17] {Les} morning dino
[09:17] {Threei} dino :)
[09:17] {dino} :)
[09:18] {dino} explains why uae said it's not selliing its' euros
[09:18] {shorty} good morning
[09:18] {Threei} shorty :)
[09:18] {Threei} not selling?
[09:18] {Threei} it said it has none :)
[09:20] {lasertrev} morning
[09:20] {RonS} gm gang :)
[09:20] {Threei} trev, ron :)
[09:21] {dino} my point, none to sell
[09:22] {Les} oh stop it dino, too early in the morning for your mind games
[09:23] {dino} cnbc at 6:30ish was talking about how the uae was not selling their euros. just following up what the talking heads missed
[09:23] {Les} right. lol
[09:24] {RonS} q- was that locomotive manu that cat bought the old general motors division?
[09:26] {Threei} keeping an eye on HAL
[09:28] {dino} watching clf, fcx, ups, fdx again. beat up yesterday
[09:31] {Threei} Short Setup: LVS .50 break half lot
[09:31] {Threei} if stays under .60
[09:34] {jfjf64} mornin
[09:35] {Threei} jf :)
[09:35] {Threei} no go
[09:35] {Threei} want HAL pullback to about 21.90 - 22
[09:35] {magoo} BIG spike apc
[09:36] {Threei} HAL, pullback entry hunt
[09:37] {Threei} watch SPY
[09:37] {nemo} rinse
[09:37] {nemo} wow
[09:37] {Threei} seem to go together
[09:37] {nemo} what a rinse
[09:37] {Les} q's dropping first and harder
[09:38] {Threei} anyone caught HAL?
[09:38] {nemo} ?
[09:38] {Les} wfc .70? break
[09:38] {Les} no
[09:38] {Les} HAL worked, but market kept my finger off .90 trigger
[09:38] {Threei} WFC, if holding above .60 while market's dropping
[09:39] {Threei} tough one
[09:40] {Threei} crying now about HAL, eh
[09:40] {Les} l bp .01
[09:41] {Les} rig
[09:41] {jfjf64} F K hal grrrrrrrrrrrrrrrrrrrrrr
[09:41] {nemo} finnies ropping
[09:41] {jfjf64} was gonna go .99
[09:41] {Threei} .90 was clean setup
[09:41] {jfjf64} nice read vad
[09:42] {jfjf64} ya good at that
[09:42] {Les} bp stopped
[09:42] {nemo} hal volume drop on this peak
[09:42] {jfjf64} .90 support
[09:43] {Threei} HAL looks to be a runner candidate with any market help
[09:44] {jfjf64} entry
[09:44] {Threei} .20 brweak
[09:44] {jfjf64} wait pullbk
[09:44] {Threei} grr
[09:44] {magoo} innnnnn
[09:45] {Threei} ok, same setup
[09:45] {Threei} if holding above .10
[09:46] {Threei} even ignores market
[09:46] {Threei} 1:1
[09:46] {Threei} half out .35
[09:46] {dino} sm l ups .15
[09:46] {Threei} stop to .15
[09:46] {nemo} should go to 23
[09:46] {Threei} over 1:2
[09:46] {jfjf64} ty
[09:46] {shorty} wow, that made up for my missed exit on LVS
[09:47] {shorty} ty Threei
[09:47] {nemo} you too shorty
[09:47] {shorty} too nemo
[09:47] {Threei} US) Preview: April Pending Home Sales due out at 10:00ET
[09:47] {Threei} **consensus expectation (m/m): 5.0%e v 5.3% prior; (y/y): 20.2%e v 23.5% prior
[09:47] {Threei} 1/4 more out .45
[09:47] {nemo} forgot I was short, sold again, didn't get out for another .10
[09:47] {nemo} So, basically, 3 stops in one
[09:48] {Threei} sheesh
[09:48] {nemo} yeah, one more I'm done for the day
[09:48] {Les} you know where your gun is nemo...
[09:48] {Threei} BP US Coast Guard: Riser pipe cut was done successfully
[09:48] {jfjf64} exactkly
[09:48] {Threei} oh good... now one little details left
[09:48] {nemo} eqkzaktly...get it right jf
[09:48] {nemo} capping the pipe
[09:48] {Les} bp was a rinse
[09:48] {dino} sm l cf .40
[09:49] {Threei} not sure les...
[09:49] {Threei} BP's problems are bigger than capping the leak
[09:49] {nemo} it would be a start
[09:49] {Threei} last peice HAL: stop to b/e,
[09:50] {Threei} chpices are exiting around .60 for 1:4
[09:50] {Les} was talking about my bp long vad
[09:50] {Threei} or holding
[09:50] {Threei} for a run closer to 23
[09:50] {Threei} make your choice, both are valid
[09:51] {nemo} spy should bounce around here a bit
[09:51] {nemo} I mean bounce
[09:51] {nemo} if it doesn't dino's gap close
[09:51] {Les} q's are losing it
[09:52] {Threei} CH) China Commerce Ministry: IN opposition to US decision with regards to antidumping in steel grating
[09:53] {nemo} wow LVS holding well
[09:53] {magoo} FAS bounce where vad?
[09:53] {nemo} had held
[09:53] {jfjf64} ??
[09:53] {nemo} close was .60 mags
[09:53] {jfjf64} nemo needs coffee
[09:54] {nemo} why
[09:54] {jfjf64} lvs
[09:54] {nemo} it had held jf
[09:54] {Les} GDX is slipping
[09:54] {jfjf64} maybe i need coffee
[09:55] {jfjf64} lol
[09:55] {Les} naah don't be intimidated by nemo jf
[09:55] {jfjf64} na
[09:55] {dino} sm l fcx .75
[09:55] {nemo} You can say that, les, you're not on the same continent
[09:55] {Threei} FAS, watch now for a dip to .65 - .70
[09:55] {Threei} for double bottom entry
[09:56] {Threei} no pullback
[09:56] {Threei} oh well
[09:56] {Threei} HAL 1:4
[09:57] {jfjf64} ya get A 4 effort 3i
[09:57] {Threei} who is trailing and holding, stop to under .30
[09:58] {dino} out fcx .15, +.40
[09:58] {Threei} wtg
[09:58] {jfjf64} wow who said was hal feel lk mommo moverrrrrrrrrr
[09:58] {Threei} ACOR to Present Data at Joint Consortium of Multiple Sclerosis Centers and Americas Committee on Treatment and Research in Multiple Sclerosis Annual Meetings (35.50, +0.38, 1.08%)
[09:58] {Threei} that would be me, jf
[09:59] {Threei} but did yuo listen?
[09:59] {Threei} nooooo....
[09:59] {jfjf64} naaa took 15 cents
[09:59] {jfjf64} bah humbug
[10:00] {Threei} US) APRIL PENDING HOME SALES M/M: 6.0% V 5.0%E
[10:00] {Threei} Y/Y: 24.6% V 20.2%E
[10:01] {jfjf64} looks lk entry hal
[10:01] {Threei} - prior m/m revised higher from 5.3% to 7.1%
[10:01] {Threei} - prior y/y revised higher from 23.5% to 25.4%
[10:01] {Threei} FAS
[10:01] {Threei} watching
[10:03] {Threei} ASTM?
[10:04] {nemo} aig
[10:04] {Les} all out HAL .49 a bird in the hand...
[10:05] {jfjf64} ya were in entire tm les
[10:05] {Threei} weird sudden jumps today
[10:05] {Threei} market and FAS
[10:05] {Les} partialling out jf
[10:05] {magoo} well mkts really really oversold on a short term
[10:05] {jfjf64} very nice les
[10:05] {Threei} no crying when I sell at .80 - .90, ok?
[10:05] {Les} just a little
[10:06] {magoo} im waiting .89
[10:06] {Threei} and I promise not to cry if it's stopped under .30
[10:07] {jfjf64} i would guess HAL snapshot chart
[10:08] {Threei} unless something more valuable comes along
[10:08] {Threei} main criteria for these is educational value, nice clean repeatable setup
[10:08] {jfjf64} nice i like this

Session Start: Wed Jun 02 10:14:37 2010
Session Ident: #discussions
03[10:14] * Now talking in #discussions
[10:14] {Threei} crap
[10:14] {jfjf64} wtg dino
[10:14] {Threei} I am afraid my harddrive is failing
[10:15] {nemo} great...2nd one in a year
[10:15] {Threei} no kidding
[10:15] {Les} stop using it as a coaster for your coffee
[10:15] {jfjf64} oh boy
[10:16] {jfjf64} aig
[10:16] {nemo} jf needs coffee
[10:16] {jfjf64} missed
[10:17] {Threei} HAL stop to under .40
[10:17] {dino} darn markets, selling too soon
[10:18] {jfjf64} aig vad classic dive correct
[10:18] {magoo} dont faint vad, i partialed some here
[10:18] {dino} pol sm l .20
[10:18] {Threei} thank goodness
[10:18] {Threei} I was afraid to ask
[10:18] {dino} apol
[10:18] {Threei} no jf
[10:18] {Threei} not on AIG
[10:19] {jfjf64} ???
[10:19] {Les} fas 23 break?
[10:19] {Threei} 10:18] {jfjf64} aig vad classic dive correct
[10:19] {Threei} no, AIG, is not a subject of normal pullback hunt
[10:20] {Threei} not sure about FAS
[10:20] {jfjf64} when ya hv min pls eplain
[10:20] {Threei} AIG is not trading like most normal stocks
[10:20] {Threei} its pullbacks tend to be less readable, more brutal
[10:21] {Threei} and it doesn't bounce like most of them
[10:21] {jfjf64} k ty
[10:21] {Threei} just a matter of observing this one over time
[10:21] {jfjf64} if wasnt aig chart pattern correct
[10:22] {Threei} yes
[10:22] {jfjf64} ty
[10:23] {magoo} crap, been trading thru edge
[10:23] {magoo} sheesh
[10:23] {Threei} lol
[10:23] {Threei} whatever works
[10:23] {nemo} lvs short here vad?
[10:23] {magoo} actually, it was
[10:23] {jfjf64} what up amgn
[10:23] {Threei} Long Setup: NE .80 break
[10:24] {Threei} stop under .70
[10:24] {magoo} in
[10:24] {jfjf64} in
[10:25] {Threei} LVS, I don't see a setup for short
[10:25] {Threei} HAL 1:6
[10:25] {nemo} those volume spikes on the highs, and the drop in volume
[10:27] {Les} damn, I see why I should keep some skin in HAL. a mover is a mover...
[10:27] {Threei} hmmm
[10:27] {Les} and making money unlike the other slugs I own
[10:28] {jfjf64} bounce ne
[10:29] {magoo} unfam with NE vad,
[10:29] {magoo} can it rip?
[10:29] {Threei} it' stopped
[10:29] {Threei} who cares
[10:29] {nemo} done
[10:29] {Les} oh it ripped
[10:30] {Threei} frikin thing was 2 cents from 1:1
[10:31] {jfjf64} going to water plants be bk
[10:31] {nemo} what kind of plants jf?
06[10:31] * magoo slaps jfjf64 around a bit with a large trout
[10:31] {larisa} heavy rain is watering mine :)
[10:31] {Threei} EU) EU regulators propose increased reforms for corporate management including adjustments to stock options and golden parachutes
[10:31] {Threei} sure
[10:31] {jfjf64} nice plants
[10:32] {Threei} it's private sector they worry about, not their own largesse
[10:32] {jfjf64} hal pattern entry here
[10:33] {Threei} not sure
[10:34] {dino} thats the irony of it all 3i
[10:35] {dino} "shrug"
[10:37] {Les} out POL +.10 ty dino
[10:37] {dino} gj les
[10:38] {Threei} - Proposals aim to include liability to Boards
[10:38] {Threei} - Will provide ratings agencies' supervision responsibility to one regulator in the EU
[10:39] {Les} half out AUY +.05 not showing me strength
[10:44] {Les} all out +.05 2k. I prefer doing dinner to this
[10:46] {Threei} GM Reports May US vehicle sales +32%
[10:47] {Threei} LVS
[10:47] {nemo} my broken clock moment for the day
[10:50] {Threei} Warren Buffett: Ratings agencies had flaws in their models; were wrong like everyone else; not planning on being a 'hostile witness' - CNBC
[10:50] {Threei} LVS, watching for double bottom
[10:51] {nemo} spy should bounce aroun .05
[10:54] {Threei} missed LVS... wasn't really clear on that bounce
[10:55] {Threei} EU's Barroso: In favor of tax on bank profits
[10:55] {Threei} but of course
[10:55] {Les} right
[10:55] {Les} and australia's tax on miners
[10:55] {Threei} the most perofitable tax in history would be a tax on politician's stupidity
[10:56] {Les} let the socialist agenda continue
[10:56] {Les} I have no problem redistributing australian natural resource wealth
[10:56] {Les} i just don't think it should be done through government
[10:57] {Les} the PM has to spend $38M to convince aust. that its good for them...
[10:57] {dino} bunch of looters
[10:59] {Les} Australians have solid retirement funding locked up in the mining industry through private savings
[10:59] {Les} I wonder how much govt. takes in taxes and lowered share price from people's wealth...
[10:59] {larisa} is Les miner from Australia? i am confused
[10:59] {Les} before spending it on who know's what...
[10:59] {nemo} kinda' he's a trogladyte
[11:00] {Les} I thank Larisa for that little quip from Nemo
[11:00] {larisa} lol
[11:00] {nemo} Yeah...she stuck your chin out
[11:00] {Les} I am australian larisa
[11:01] {larisa} k :)
[11:01] {RonS} mathilda lover eh?
[11:01] {nemo} spelled it wrong troglodyte
[11:01] {jfjf64} doesnt make him bad larissa
[11:01] {Threei} Halliburton Co Comments on well control activities in the Gulf - filing
[11:01] {Threei} - Halliburton continues to devote significant resources to assist BP p.l.c. in well control and relief well operations.
[11:01] {Threei} -Halliburton is providing services to BP in the drilling of the relief wells for which the well owner has set a target completion date of August 2010.
[11:02] {larisa} If he looks like Hugh Jackman, he can speak as much as he wants to :)
[11:02] {jfjf64} lol
[11:02] {Threei} here comes HAL for you mags
[11:02] {magoo} oput HAL finally .91 BEAUTY vad
[11:03] {Threei} wtg
[11:03] {jfjf64} nice
[11:03] {jfjf64} wow
[11:03] {jfjf64} 23
[11:03] {Threei} I want my dollar
[11:04] {Les} :( little cry for my early sell
[11:04] {Threei} told ya
[11:04] {jfjf64} hm me too
[11:04] {magoo} thinking RIG to 48.50 at least CAREFUL, best enter pllbk
[11:05] {magoo} im in of course .34
[11:05] {Threei} out +.90
[11:05] {magoo} nice boss, NEXT?
[11:05] {shorty} slow clap here Threei.
[11:06] {magoo} question is..did u have 3k like me lol
[11:08] {dino} sm l v .00
[11:09] {Threei} dollar
[11:09] {Threei} oh well
[11:15] {dino} pss l sm .50
[11:15] {magoo} RIG printed .18
[11:18] {Threei} 46% Say Tea Party Good for America, 31% Disagree
[11:19] {jfjf64} party i miss somethin
[11:25] {Threei} does market break out here or fizzle out?
[11:25] {Threei} i other words, FAS or FAZ?
[11:25] {magoo} break imo
[11:25] {Threei} FAS then
[11:25] {Les} .35?
[11:25] {Threei} break
[11:25] {magoo} been brutalized, time for a lil bear spanking
[11:26] {Threei} I still ptefer pullbacks...
[11:26] {magoo} yea..lets wait
[11:26] {Threei} breaks are just too hard in this market
[11:26] {Threei} too many of them end up beiong a whipsaw
[11:27] {RonS} ...breaking: CBS news blames Bush for Gore split
[11:27] {Threei} ummm
[11:27] {nemo} that boy needs help
[11:28] {Threei} who of Bushes is a home-wrecker?
[11:28] {Les} good call FAS guys. got out +.01 when you said pullback first
[11:28] {nemo} ready FIRE! aim, huh Les?
[11:28] {dino} it's all "w"s fault in obamination's eyes
[11:28] {larisa} Barney :)
[11:28] {dino} oil spill too
[11:29] {Les} it's bush's fault nemo
[11:29] {Threei} FAS getting ready
[11:29] {RonS} ...they are implying that the Bush beat of Gore put "irreparable" harm on the marriage...
[11:30] {RonS} ...everything bad is Bush's fault from now and forever...
[11:30] {nemo} Nat King Cole?
[11:31] {Threei} SPY still hasn't found the bounce pad
[11:32] {magoo} OUT .31 RIG
[11:32] {magoo} + point\
[11:32] {Threei} wtg
[11:32] {Threei} ok FAS, .25 break
[11:32] {Threei} if holding .20
[11:32] {magoo} [11:04] {magoo} thinking RIG to 48.50 at least CAREFUL, best enter pllbk
[11:32] {magoo} [11:05] {magoo} im in of course .34
[11:33] {Threei} (US) US Dept of Transportation considering increase to compensation to passengers bumped from flights to $1,300
[11:33] {Threei} - Considering allowing passengers to cancel reservations within 24 hours with no penalty
[11:33] {dino} v stopped
[11:33] {dino} -.33
[11:35] {Threei} I don't expect huge ran from FAS, but not a scalp either
[11:35] {Threei} over 1:1
[11:36] {Threei} half out
[11:36] {Threei} .35, 1:2
[11:36] {Threei} stop to .24
[11:37] {shorty} out .40
[11:37] {Threei} 1/4 offered .42
[11:40] {Threei} look how buyer of a break would have been hosed once again
[11:41] {magoo} and not in a good way:)
[11:41] {Threei} lol
[11:41] {Threei} yet buyers of a pullback would have been rewarded
[11:41] {Les} bite me
[11:41] {magoo} now if IF mkt wants a selloff today, lets also watch faz
[11:42] {Threei} that's a very nice way to express your gratitude for a rimely warning and for educational bit
[11:42] {Threei} out 1/4 at .42
[11:42] {Les} yeh yeh yeh you're just happy to stick the knife in...
[11:42] {Threei} what knife?
[11:42] {Threei} I held you from buying break, and I called entry on pullback
[11:43] {Threei} what more do you want from me?
[11:43] {Les} i know :)
[11:43] {Threei} push your buy button?
[11:43] {Threei} last piece is offered at .52
[11:43] {Les} but I also know you like to wield psychological 2X4
[11:43] {Threei} sure
[11:43] {Threei} so?
[11:43] {Les} thus 'knife' remark
[11:45] {Les} hmm a remotely linked buy and sell button...
[11:45] {magoo} vad, how much monthly cost to buy the service where u hit the buy/sell buttons for me??
[11:45] {Les} lol wasn't going to dare to say that...

Session Start: Wed Jun 02 11:50:44 2010
Session Ident: #discussions
03[11:50] * Now talking in #discussions
[11:51] {Threei} small administrative fee of merely $29,999 a month
[11:52] {Threei} guys, I'll start urgent backup, to have everything latest in case harddrive fails ultimately today
[11:55] {magoo} dont bother :)
[11:59] {Threei} where is FAS?
[12:00] {nemo} .45
[12:00] {nemo} .48
[12:00] {Threei} ever went over .50?
[12:00] {nemo} yes
[12:00] {Threei} ok, I am out then
[12:00] {magoo} F pop
[12:00] {nemo} so, you're done for the day Vad?
[12:00] {Threei} no
[12:01] {Threei} just can't run much while backup is working
[12:01] {magoo} big fall RIG
[12:04] {Threei} market is likely to be calm for a while anyway, and hopefully I am done till activity resumes
[12:21] {dino} out apol .70, +.50
[12:22] {Les} you still in pol dino?
[12:22] {dino} no it was apol
[12:23] {dino} ded
[12:23] {dino} dbd
[12:23] {dino} dieing
[12:28] {dino} dbd sm l .75
[12:29] {dino} out .35, +.60
[12:37] {larisa} DBD fraudulent accounting accusation and recovering like this? strange
[12:38] {larisa} did it really go under 19?
[12:39] {larisa} saw it too late on dinos call
[12:39] {dino} yes, saw it
[12:39] {dino} dbd sm s .50
[12:39] {RonS} Larisa, i do not have that
[12:41] {dino} boards saying it, but also saying fake, so coin toss
[12:41] {larisa} boards say flyonthewall reported it. did not see it myself
[12:42] {dino} cov dbd .45, don't like it
[12:43] {nemo} good thing
[12:43] {nemo} trading fairy watching over you on that one dino
[12:43] {Les} I remember getting creamed shorting something the same as this. What was it that crashed a few weeks ago yet fully recovered...?
[12:44] {larisa} MA?
[12:44] {dino} lol
[12:45] {RonS} larisa, ma and v have been acting horribly...imo
[12:45] {patience} .
[12:45] {Les} haha sense of humour there I see Larisa...
[12:45] {Les} no, not MA
[12:46] {larisa} :)
[12:47] {RonS} Diebold options in a fast market on wide intra-day share price movement 06/02 10:46 AM
[12:47] {nemo} bidu interesting, and volume building
[12:48] {RonS} Diebold was accused of fraudulent accounting by SEC, Bloomberg reports.
[12:51] {dino} old headline from last week
[12:52] {RonS} ya, i cannot find it post came across the Fidelity news service...something goofy going on here.
[12:52] {larisa} Diebold very optimistic name for a company
[12:52] {dino} kind of cool
[12:52] {Les} not german?
[12:52] {RonS} german name i think lari...
[12:54] {RonS} per wiki, co founded in 1859 by Charles Diebold in Canton, Ohio
[13:01] {larisa} poor holder of DBD comes home and sees it at 28 still, but his stop at 20 got hit.
[13:08] {RonS} lesson there?...put spreads instead of stops...
[13:10] {larisa} APC at res again, not sure about breakout
[13:11] {RonS} ...the eur/jpy cross has run from 110. yesterday a.m. to touching 113.0. If it closes north of 113.5 the risk trade is definitely back on...
[13:14] {Threei} OK... emergency backup is done
[13:14] {Threei} can work on whatever runs till end of the day, tomorrow will have to replace hadrdrive
[13:14] {RonS} yippee...:D
[13:15] {larisa} vad, we playes DBD long 19 - 26 without you :)
[13:15] {Les} FAZ comeback time?
[13:15] {RonS} :O
[13:15] {larisa} s=d
[13:16] {Threei} cingratulations
[13:16] {nemo} well, spy 200 is around 108.70
[13:16] {larisa} you still better speller than i am
[13:16] {nemo} she lies
[13:16] {dino} out pss +.08 thing is stuck
[13:18] {Threei} Diebold Inc SEC reportedly accuses company of fraudulent accounting practices for period between 2002-2007; claims mistatement of earnings by $127M
[13:18] {Threei} - Note: on May 4, 2009 DBD settled civil charges with the SEC and was to pay $25M penalty, Under the terms of the agreement in principle with the staff of the SEC, Diebold will neither admit nor deny civil securities fraud charges, will pay a penalty of $25M and agree to an injunction against committing or causing any violations or future violations of certain specified provisions of the federal securities laws. In connection with reaching the agreement in principle, the company recorded a charge of $25M in the first quarter of 2009.
[13:18] {Threei} - Follow Up: SEC claims DBD has paid the $25M the penalty to settle charges announced today. Unclear if the two cases are separate.
[13:19] {Les} damn it pays to lie
[13:19] {Threei} wow, we still exited HAL too early
[13:19] {Threei} FAS is fine though
[13:19] {Threei} exit at .52 was just right
[13:22] {shorty} see you guys tomorrow.
[13:22] {Les} ciao
[13:22] {dino} cya shorty
[13:22] {Threei} take care shorty'
[13:23] {Les} bp 37 b/d with some consolidation?
[13:24] {Threei} 50/50
[13:24] {Threei} as long as risk is small, can try
[13:24] {Les} wanting market to drop at same time
[13:25] {nemo} BP looking long here
[13:26] {Threei} could be
[13:26] {Threei} same 50/50
[13:26] {nemo} till the next news item
[13:26] {nemo} it's at the top of that congestion zone between 10-11
[13:27] {RonS} Halliburton prepares for long drilling ban 06/02 09:43 AM
[13:27] {RonS} Deepwater activity in hiatus six months or longer
[13:27] {Threei} if took BP long, exit here
[13:28] {RonS} says not a dead period, plenty of work to do
[13:28] {nemo} wow...second broken clock moment
[13:28] {RonS} shrs up 11 pct; debt protection cost doubles
[13:36] {Les} s gg .96
[13:43] {nemo} fcx creating quite the channel
[13:46] {nemo} wow, low volume rally
[13:48] {Les} gg stopped
[13:57] {nemo} spy at the 200
[14:02] {Threei} now, who wants to see a guy practicing self-hypnosis,
[14:02] {Threei} (EU) Pres. Van Rompuy: Euro zone is not in monetary armageddon
[14:02] {Threei} - Says the euro is a fundamentally sound currency.
[14:02] {Threei} and the one who is thinking hard how to use the crisis to achieve his goals:
[14:02] {Threei} President Obama: economy is still fragile so can't put the brakes on too quickly
[14:02] {Threei} - Offshore oil drilling is only be a short term solution; need to fully embrace our clean energy future.
[14:02] {Threei} fully embrace eh...
[14:03] {Les} how many bureaucrats are there in Europe to reassure themselves about the Euro?
[14:03] {Threei} DBD
[14:03] {Threei} Diebold Inc Confirms that SEC has filed final paperwork for last year's $25M settlement agreement today
[14:03] {Threei} - announced that the Securities and Exchange Commission (SEC) has filed settlement materials finalizing the previously announced agreement in principle with the company. settlement relates to an inquiry conducted by the SEC's Division of Enforcement during the last several years. On May 4, 2009, Diebold announced it had reached an agreement in principle with the SEC staff, concluding the SEC's investigation with respect to the company. the SEC filed paperwork in federal court finalizing the settlement.
[14:07] {magoo} vad, im DEAD so i need some outrages calls for magoo only if RISKY
[14:07] {Threei} huh?
[14:07] {nemo} FCX long Mags right here
[14:07] {nemo} that's risky\
[14:07] {magoo} DBD shorted it during that fiasco
[14:07] {magoo} DEAD DEAD DEAD
[14:07] {magoo} "
[14:08] {Threei} what's wioth the need to jump on everything that moves??
[14:08] {nemo} no vaseline, huh?
[14:08] {nemo} there's something wrong with that Vad?
[14:08] {Les} he caught an infection from me maybe...
[14:08] {nemo} oh...we're talking trading....sorry
[14:08] {Les} lol nasty...
[14:08] {Threei} strictly trading
[14:09] {Threei} otherwise I would only be appreciative
[14:09] {Les} just a dog and a cat came to my mind...
[14:09] {nemo} wow....Les didn't know you went that way
[14:10] {Les} me neither until we started this dirty talk
[14:10] {Les} vad gg .90 break down?
[14:10] {nemo} so, this trading room is a voyage of self discovery for you...
[14:11] {Les} heaven help me if i ever get over to one of Vad's bbq's
[14:11] {nemo} yeah, you'll need heaven's help
[14:11] {nemo} fcx db vad?
[14:12] {Threei} GG no... don't like it
[14:12] {Les} ok
[14:12] {Les} GDX is making me look twice
[14:12] {Threei} FCX, well
[14:12] {nemo} tought one
[14:13] {Threei} feels like short is more likely tow ork
[14:13] {magoo} how about AAPL????
[14:14] {Threei} AAPL no idea... no pattern to fgo with
[14:14] {magoo} i need anything better than 60/40 lol
[14:16] {Les} whatdoya make of bp vad?
[14:16] {Les} .90 breakdown?
[14:16] {Threei} if market helps, yes
[14:16] {Les} or long?
[14:16] {Les} ok
[14:17] {nemo} kinda got inverted H&S on FCX now
[14:17] {nemo} oy, going Quasimodo on me
[14:20] {Threei} FCX breakdown works
[14:23] {Les} so does BP
[14:23] {nemo} Is the paint dry yet
[14:23] {Les} half out .78
[14:23] {Threei} BP does too
[14:23] {Threei} nemo, you could profit from BP instead
[14:24] {nemo} could have
[14:24] {nemo} I have to go pray to the trading gods
[14:25] {Les} all out BP .68 +.20
[14:25] {Threei} wtg
[14:26] {dino} v sm l .10
[14:33] {nemo} spy bounced off the 200 on the 5 min chart
[14:34] {nemo} same with Qs
[14:34] {nemo} V not moving with this bounce Dino
[14:36] {dino} patience
[14:36] {nemo} she here?
[14:37] {dino} lol
[14:40] {nemo} quite the volume spike
[14:41] {larisa} V divergence is beautiful if can hold 70. nice entry dino
[14:42] {larisa} kinda perfect :)
[14:43] {Threei} no news
[14:43] {dino} ;)
[14:43] {Threei} no idea where this sudden rally came from
[14:43] {dino} ppt
[14:43] {nemo} we're still inside yesterday
[14:46] {Threei} aside of early trades, pretty inactve day
[14:51] {Les} out V +.44 YOU FRICKIN BEAUTY DINO!!!!!!
[14:51] {nemo} aren't you glad he lives on a different continent
[14:51] {dino} lol, yw
[14:52] {Les} otherwise I could just give him a big sloppy kiss
[14:52] {dino} yuk
[14:52] {nemo} omfg
[14:52] {Threei} hmmm
[14:52] {nemo} first animals, now this
[14:52] {nemo} but there's nothing wrong with that
[14:52] {dino} out .60, +.50
[14:53] {nemo} mmmhhhhh...Les must have some interesting home movies
[14:59] {Threei} 30% Say U.S. Heading in Right Direction
[14:59] {Threei} amazingly constant number
[14:59] {Threei} osicallets between 28 and 32
[14:59] {Les} federal employees
[14:59] {Les} or prison officer union
[15:02] {dino} guess we sold a bit soon les
[15:03] {dino} fxe positive
[15:03] {Les} got back in with 200 shares but had too tight a stop.
[15:04] {Les} watching for further squeeze
[15:04] {Les} faz hovering around 15. there a two way play in it vad?
[15:06] {Threei} no faintest idea
[15:06] {Threei} market makes unexpected moves in unpredictable direction
[15:06] {Les} fair enough
[15:07] {nemo} looks like we're in for a test of yesterday
[15:07] {nemo} highs
[15:14] {Threei} (GR) Greece PM: No plans at the moment to reschedule debt repayments - Japan press
[15:14] {Threei} - Note: In late May the Deutsche Bank CEO commented that it was 'doubtful' that Greece could repay its debt that it would be unlikely the country could avoid a restructuring
[15:15] {dino} sounds familiar. in 30 days or so they will
[15:16] {Threei} see, they now add "at the moment"
[15:16] {Threei} that's honesty
[15:16] {nemo} for a politician
[15:16] {Threei} for a politician, that's more than hinesty
[15:16] {dino} back in feb, mar, greece had no debt problem at all
[15:16] {Threei} that's as honest as they only gert
[15:17] {Les} slip of the tongue that is
[15:17] {Threei} well
[15:17] {Threei} honestly, I feel weird discussing politicians honesty
[15:18] {Threei} almost as werid as when Les starts telling us about his personal preferences...
[15:18] {dino} :O
06[15:18] * Threei slowly moves farther from Les on the bench
06[15:19] * nemo hands Vad a Taser
[15:19] {Threei} ty, feel safer
[15:19] {Les} oh you guys...
[15:19] {Threei} well Les.. since there is an outside chance tyou may ever visit one of my backyard parties... I better warn you in advance :)
[15:20] {Les} don't make me smash a bottle over nemo's head at a gathering just to prove that I'm 'one of the boys'
[15:20] {Threei} why not... that's between you and nemo
[15:21] {Threei} (PO) Portugal Parliament has reportedly approved general austerity framework which includes increases
[15:21] {Threei} - Note: Final vote scheduled for June 9th
[15:21] {Threei} - Reminder: Parliament is to vote on tax increases and spending cuts that move the 2010 budget deficit to 7.3% of GDP
[15:23] {nemo} gotta question...
06[15:23] * Threei slaps lasertrev around a bit with a large frozen trout on Ilana's behalf
[15:23] {nemo} since when is smashing a bottle over someone's head proving you're one of the boys
[15:24] {nemo} I think he just wants an excuse to whack me
[15:26] {Threei} who could blame him?
[15:26] {nemo} whose arguing
[15:26] {Threei} say thank you he is europian - anyone else wouldn't even look for an excuse
[15:26] {Les} l v .71 sm
[15:29] {Threei} FAS
[15:29] {nemo} oooh...volume spike
[15:29] {Threei} if we get another market spike, 24 break
[15:30] {nemo} I would think market tests 110
[15:30] {Threei} although I hate breaks still
[15:30] {nemo} me too
[15:31] {dino} hate the gaps we left below
[15:31] {dino} the way markets been we fill them tomorrow
[15:33] {nemo} spy breeched yesterday's high by .02
[15:33] {dino} showing 5/26; 9974, 1796, 1067 & today 1070
[15:36] {nemo} think we test the 5/28 highs first
[15:36] {nemo} you've got the gap down on the 20th that coincide with that high
[15:37] {dino} maybe so nemo, close to them
[15:37] {nemo} yeah, if the jobs report is good on friday and no external news, we'll get a short squeeze on friday afternoon
[15:38] {dino} leave shorty out of this
[15:38] {nemo} poor guy
[15:38] {nemo} then again, I said "short squeeze" not "Squeeze Shorty"
[15:41] {dino} lol
[15:41] {dptl} have a good evening all
[15:41] {Threei} take care dp
[15:41] {dino} cya dp
[15:41] {Les} ciao
[15:42] {nemo}
[15:43] {nemo} [15:37] {nemo} yeah, if the jobs report is good on friday and no external news, we'll get a short squeeze on friday afternoon
[15:43] {Les} crap, now that everyone's talking about it, I'd say huge drop
[15:44] {Threei} scenario now is run before the report and drop after
[15:44] {nemo} could be rabbit
[15:44] {Les} voilĂ 
[15:44] {Threei} and if report is bad...
[15:44] {nemo} which I doubt
[15:44] {nemo} but, yeah....lookout beeeeeeeeeeeeeeelowwwwwwwwwww
[15:44] {Threei} someone should tell this guy to keep his mouth st on market-moving confidential news
[15:45] {Threei} st = shut
[15:45] {nemo} Goldman Sachs told him
[15:46] {Threei} SQNM SEC discloses charges former exec over false statements to investors related to prenatal test for Down syndrome; exec has settled
[15:51] {Threei} Morgan Stanley Head of Treasury trading has reportedly left the company - unconfirmed report
[15:51] {Threei} - Reminder: Steve Callahan was hired away from Barclays in August 2009 to run the Treasury trading desk in the fixed income unit.
[15:51] {Threei} what, he had losing day in 2010?
[15:51] {Threei} and was fired for sheer incompetence?
[15:53] {dino} gotta hop, tee time in 40
[15:53] {dino} thx all
[15:53] {Les} ciao
[15:53] {Threei} tke care dino
[15:54] {nemo} there goes 110
[15:54] {Threei} anyone went for FAS?
[15:55] {Les} first time round. missed 1:1 by .01
[15:55] {Les} and got stopped out
[15:55] {Les} but I see that wasn't the break I should have been playing
[15:56] {nemo} I thought the market goes down when Dino leaves
[16:00] {Les} c y'all in the morn
[16:00] {nemo} yep hasta manana
[16:01] {larisa} bye all
[16:01] {Threei} thank you all
[16:02] {Threei} have a good evening
[16:02] {Threei} see you tomorrow