Monday, June 14, 2010

Jun 14 2010

"Catch of the day" once again has been found by one of the room members. Beautiful chart formation and worked like charm:

I intentionally do not add any text to the lines and arrows - just outlining setup and leaving it for you to discern the resistance, trigger and stop level.

The day had a few wins and small stops; ended on positive side and the boredom period was shorter that on most days of the last week.

Session Time: Mon Jun 14 00:00:00 2010
[08:30] {Threei} (IT) Italy Fin Min Tremonti: 2010 will be the last year that EU countries decide their own budgets independently - Italian press
[08:30] {Threei} - In the future, economic policy in Europe will be made at the same time of year, in the same way all together.
[08:30] {Threei} (EU) EU Commission: No plans to provide financial aid to any member State- No indication that Spain is preparing to ask for aid - Optimistic on Greek austerity plans
[08:30] {nemo} right...
[08:30] {Threei} (SP) Spain Dep Fin Min Ocana: Country has no plans to use EU/IMF rescue fund
[08:30] {Threei} - Currently not considering tax increases, focusing on spending.
[08:30] {Threei} - No issues regarding ability to pay debt; country has low debt burden.
[08:31] {Threei} (US) Fed's Bullard: US economic recovery is on track; may be complete in Q3
[08:31] {Threei} complete?
[08:31] {Threei} as in?...
[08:32] {Threei} - China is back on rapid growth path but is not facing bubble and is likely to continue for a 'considerable' period of time.
[08:32] {Threei} - Risk of sudden Chinese slowdown is limited
[08:32] {Threei} - European situation is serious and unclear but does not expect that the debt woes will derail global recovery
[08:32] {Threei} - Fed should start shrinking its balance sheet to pre-crisis levels in order to avoid inflation.
[08:32] {Threei} - Expects employers in the US to start hiring for the remainder of 2010 in order to keep up with the demand
[08:32] {Threei} - US economy missed main danger point for deflation
[08:32] {Threei} - investors expect US inflation to be above implied target in 5-10year range
[08:32] {Threei} - Followup: Fed would be willing to use Quantitative easing (QE) if the situation arose; but believes the US economy is NOT heading in such a direction
[08:51] {dptl} good morning
[08:51] {Threei} dp :)
[08:56] {Threei} (EU) Eurogroup: There is to be G7 Fin Mins call later today
[08:56] {Threei} - Note subject of the discussion not disclosed
[08:59] {nemo} $ ugly this morning
[09:00] {Les} you're not much better on a Monday morning
[09:00] {nemo} after seeing that picture, I'd keep my mouth shut
[09:00] {Threei} hey, not bad for opening joke of the week
[09:00] {nemo} if I were you (perish the thought)
[09:01] {Les} morning :)
[09:01] {nemo} afternoon
[09:10] {ese} god morning
[09:10] {ese} good
[09:11] {dino} gm all
[09:12] {Threei} ese, dino :)
[09:14] {shorty} morning
[09:14] {nemo} morning
[09:16] {Threei} shorty :)
[09:19] {ese} anything moving vad
[09:19] {Threei} so far, gap and stall
[09:20] {Threei} RCL is interesting
[09:20] {nemo} bidu might be interesting
[09:20] {Threei} plus all the usual suspect
[09:20] {Threei} s
[09:20] {nemo} fcx too
[09:21] {ese} tks
[09:22] {nemo} fcx might be building a C&H
[09:23] {RonS} gm all
[09:23] {lasertrev} morning
[09:24] {dino} fcx 75 strike this week
[09:24] {Threei} hawk, look dcc please
[09:26] {nemo} FCX completed handle
[09:28] {nemo} fcx just broke
[09:28] {Les} spread from hell
[09:28] {nemo} yes
[09:29] {Les} wfc doesn't follow fas yet
[09:30] {Threei} LVS sharp pullback
[09:31] {Threei} Long Setup: LVS .25 break half lot
[09:31] {Threei} if stays above .15
[09:32] {Threei} 1:1
[09:32] {Threei} half out
[09:32] {Threei} stop to under .20
[09:33] {Threei} Long Setup: RCL .45 break half lot
[09:34] {Threei} stop under .35
[09:34] {Threei} 1:1, half out
[09:35] {nemo} wow I didn't get it
[09:35] {Les} jeez using IB again. this isn't even funny
[09:35] {nemo} out
[09:36] {nemo} had order in ahead of time, no execution
[09:39] {Threei} watching BP for spike to short
[09:40] {Threei} no clear idea of price level yet
[09:40] {Threei} probably above .20
[09:41] {jfjf64} mornin
[09:41] {Threei} breaks down instead
[09:41] {Threei} oh well
[09:42] {Threei} LVS 1:2, 1/4 more out
[09:42] {Threei} stop to under .30
[09:42] {Threei} done
[09:43] {Threei} jf :)
[09:43] {Les} no play today. c u's tomorrow. ciao.
[09:43] {nemo} wow, vacation day for us
[09:44] {Threei} cybx
[09:44] {Threei} never mind
[09:45] {Threei} Short Setup: HAL .20 break
[09:45] {Threei} half lot
[09:48] {Threei} invalidated
[09:48] {ese} yup
[09:50] {Threei} Long Setup: BP .05 break
[09:50] {Threei} if stays above .90
[09:50] {Threei} modification, 32 break
[09:50] {Threei} half lot
[09:51] {Threei} want it tighter
[09:51] {Threei} no go
[09:52] {Threei} Short Setup: WFC .40 break
[09:53] {Threei} if stays below .55
[09:53] {nemo} missed
[09:53] {jfjf64} missed
[09:53] {nemo} lotta' chop this morning
[09:54] {jfjf64} 3i
[09:54] {nemo} scalps seem to be in order
[09:54] {Threei} jf?
[09:54] {jfjf64} need someone to type calls
[09:54] {Threei} ??
[09:54] {jfjf64} lol
[09:54] {Threei} that was alerted in advance
[09:54] {jfjf64} missed
[09:54] {jfjf64} wfc
[09:54] {jfjf64} i know
[09:55] {jfjf64} little foggy today
[09:55] {jfjf64} need coffee
[09:55] {nemo} drinking while watching celtics last night?
[09:55] {Threei}
[09:55] {jfjf64} why not
[09:55] {Threei} that's you jf?
[09:55] {nemo} yep
[09:56] {Threei} WFC, same setup
[09:57] {jfjf64} vad sndk for bounce
[09:57] {nemo} hey mags
[09:57] {magoo} morn
[09:57] {Threei} mags :)
[09:58] {Threei} SNDK seems to be forming breakout jf
[09:58] {Threei} WFC, let's keep stop above .50
[09:58] {Threei} don't want to get caught in full steam market reversal
[09:59] {Threei} SNDK, .50 break long if holding .30 - .35 zone
[09:59] {Threei} runner candidate
[09:59] {Threei} not a scalp
[10:00] {Threei} The Goldman Sachs Group Inc Hearing Meredith Whitney makes positive comments
[10:02] {Threei} MTXX Reportedly Supreme Court to hear appeal (5.16, +0.59, 12.91%)
[10:03] {shorty} BP hit around .20
[10:03] {Threei} no clean patterns on it today
[10:03] {Threei} violates all levels both ways
[10:05] {Threei} SP) German Fin Min: Spain was not a topic of discussion on G7 conference call
[10:05] {Threei} breakfast menu was I guess?
[10:07] {jfjf64} sndk
[10:07] {jfjf64} gettin ready
[10:07] {jfjf64} 52 week high
[10:07] {Threei} unless this market setback ruins it
[10:08] {nemo} yeah, market so choppy
[10:08] {Threei} but yes, looks very tempting
[10:09] {nemo} oh well
[10:09] {nemo} blew right by me
[10:09] {shorty} got it
[10:09] {nemo} you get in jf
[10:09] {nemo} lucky bastids
[10:09] {jfjf64} y
[10:09] {nemo} what you guys in at?
[10:10] {Threei} 1:1
[10:10] {shorty} I got + 20 on it Threei
[10:10] {shorty} .20
[10:10] {Threei} cool beans
[10:11] {Threei} BP dropped off a cliff, right from that .20
[10:11] {Threei} half out SNDK here
[10:12] {Threei} +.25
[10:12] {Threei} stop to .45
[10:12] {Threei} offer 1/4 more around .90
[10:12] {magoo} sndk nice vad
[10:13] {shorty} nice Threei
[10:13] {Threei} 09:59] {Threei} runner candidate
[10:13] {Threei} [09:59] {Threei} not a scalp
[10:13] {shorty} .20 was 1:1...right?
[10:13] {jfjf64} gimmi little credit
[10:13] {hawk} nice find jf
[10:13] {Threei} yes shorty
[10:13] {Threei} not only that jf
[10:13] {Threei} it's likely to make it as "catch of the day" chart"
[10:14] {Threei} your BA did on Fri
[10:14] {jfjf64} i saw
[10:14] {jfjf64} ty
[10:14] {jfjf64} here that nemo
[10:14] {nemo} you mean "hear"?
[10:15] {nemo} no...I read that
[10:15] {jfjf64} lol
[10:16] {Threei} close enough for 1/4 more out
[10:16] {jfjf64} wanna get sick iam
[10:17] {nemo} what did you guys set your offers jumped right over mine
[10:17] {Threei} .55
[10:17] {nemo} oh
[10:17] {jfjf64} my original entry was
[10:17] {Threei} .90 hit
[10:17] {jfjf64} 46.86 break
[10:17] {jfjf64} ouch
[10:17] {Threei} out and stop to under .60 for the last portion
[10:18] {shorty} I bought SNDK .46, thought what the hell it's up all day. Took a chance.
[10:18] {Threei} British Petroleum plc Senate Democrats request response from BP by June 18 on demand for a $20B set aside
[10:18] {Threei} - Reminder: Earlier today the WSJ reported Senate Democrats would ask BP to set aside $20B for spill costs. A separate report said some in Congress are pushing for $100B in punative damages from BP.
[10:18] {Threei} what the heck, why not 1T
[10:19] {Threei} choice here:
[10:19] {Threei} either exit into spike after 48 break
[10:19] {nemo} rimm bolted too
[10:19] {Threei} or continue trailing if want to milk it as much as possible
[10:19] {Threei} I will give levels to trail
[10:21] {Threei} brrrreak
[10:21] {jfjf64} rimm
[10:21] {jfjf64} .33
[10:21] {Threei} ok, who wants to exit, you got 60 cents
[10:22] {Threei} who wants to trail, it's under .90 now
[10:22] {nemo} what rimm .33?
[10:22] {jfjf64} im luvin it
[10:22] {nemo} break of?
[10:23] {jfjf64} need to hold.15
[10:25] {Threei} stop to under 48
[10:27] {jfjf64} no go rimm
[10:27] {jfjf64} here
[10:29] {Threei} wow
[10:29] {Threei} what's got into LVS
[10:31] {Threei} TIVO Strength attributed to resurfacing takeover chatter
[10:31] {Threei} - DTV speculated as suitor (7.87, +0.24, 3.15%) (related DTV )
[10:32] {Threei} BP is so dead
[10:35] {dino} vad, magoo cannot access room
[10:36] {Threei} huh?
[10:36] {Threei} he IS in the room
06[10:36] * Threei slaps magoo around a bit with a large trout
[10:37] {Threei} EU's Barroso: EU has not prepared an aid package for Spain
[10:38] {Threei} fern says hello guys
[10:38] {Threei} strider too
[10:38] {shorty} Hello to fern
[10:38] {shorty} and strider
[10:39] {Threei} strider will be back around 28-29
[10:39] {nemo} V showing efined support around .55
[10:48] {Threei} BP... does it look ready for short again to anyone?
[10:49] {Threei} going over .50, then forming a range and breaking .50 to the downside
[10:49] {shorty} {------
[10:50] {Threei} alternatively, never breaking .50, forming a range under it, and breaking it down
[10:50] {Threei} dino, is this magoo nick a ghost?
[10:51] {nemo} I was able to dcc him
[10:51] {shorty} Ahhh.....I see the pattern Threei.
[10:51] {Threei} ok, I kicked it out
[10:51] {Threei} magoo, try to connect again as magoo
[10:51] {magoo_} ok
[10:53] {Threei} (IC) EU has reportedly approved Iceland's proposal to begin talks regarding Euro entry in Sept or Oct
[10:53] {Threei} - Draft proposal to confirm bid to begin talks on June 17
[10:53] {Threei} am I in some parallel universe?
[10:54] {nemo} the fundibulum
[10:54] {Threei} in the one I inhabit no ane entity would want to join Euro now
[10:56] {magoo_} im in two univer today...magoo and magoo_
[10:56] {magoo_} did you see my email vad?
[10:56] {Threei} yes but I can't understand any of that
[10:57] {Threei} the only reason you couldn't connect was because ghost stayed in the room
[10:57] {Threei} I kicked it out, now you can connect as magoo
[10:57] {shorty} Threei what is going on in Vancouver?
[10:57] {magoo_} ill try again
[10:58] {Threei} ummm... practicing for an earthquake?
[10:59] {shorty} Have a great day all, taking kids out before it starts raining for a week again. Thanks for your picks Threei.
[10:59] {Threei} take care shorty
[10:59] {shorty} :)
[11:02] {dino} cya shorty
[11:05] {Threei} HAL...
[11:05] {magoo} sigh
[11:12] {Threei} action slowed to a crawl
[11:12] {Threei} let's inhale, exhale and look at the beauty of the world:
[11:12] {Threei}
[11:15] {hawk} do you mean the picture in the top right corner?
[11:15] {Threei} ummm
[11:15] {Threei} well...
[11:15] {Threei} cough
[11:15] {Threei} ok... no :)
[11:15] {hawk} :)
[11:17] {dino} anat, strange, thinny
[11:17] {Threei} Senate financial overhaul bill would reportedly permit swaps dealers to be "affilliated" with bank holding companies, require they be separately capitalized
[11:18] {Threei} BP White House press secretary: confident BP will agree to set up escrow plan (31.57, -2.40, -7.07%)
[11:18] {Threei} - Reportedly bill would propose a two-year transition period for banks to comply with new derivative rules.
[11:19] {Threei} two years?
[11:19] {Threei} in two years we are going to be in some new crisis
[11:19] {Threei} and regulations born by this one will be horrible outdated
[11:19] {Threei} whatever
[11:20] {Threei} have you guys read this new hypotesis about what happens with leaking well?
[11:20] {nemo} the well being broken under the surface?
[11:20] {Threei} that it's not just the hole BP is trying to plug, but the cracks in rock formation of the oil reservouir, yes
[11:20] {nemo} yeah
[11:21] {Threei} if true, boy are we in the world of troubles
[11:21] {Threei} another twist I hear isd:
[11:21] {nemo} yep
[11:22] {Threei} Pelosi screams about designating BP as responsible for clean-up whether they are found guilty of not is caused by exactly this,
[11:22] {Threei} since if this theory is proven, BP is pretty much off the hook
[11:22] {nemo} yeah saw that too
[11:22] {nemo} well, it would be from shoddy well building this happened in the first place. The faulty construction led to the gas explosion
[11:23] {Threei} well, the twist i mean is different
[11:24] {Threei} it suggests that cracks in rock formation are of natural origin,
[11:24] {Threei} and in fact could cause the explosion
[11:25] {Threei} by introducing movements in the base which ruined blowout preventer
[11:26] {Threei} - Obama speech on Tuesday night will also discuss worker safety and food safety in the Gulf.
[11:26] {Threei} BP US Coast Guard: expect BP will have the capacity to recover 28K bpd of oil from the Gulf leak by the end of this week (31.71, -2.26, -6.65%)
[11:26] {RonS} jpm is marching
[11:28] {dino} sm l anat ave .53
[11:29] {Threei} JPM, will be ionteresting for long if pulls back to about .80 - .90
[11:42] {Threei} Long Setup: GS .50 break small shares if stays above .30
[11:47] {ese} Gs call still good vad
[11:48] {Threei} hasn't touched stop, hasn't hit target
[11:50] {Threei} 1:1
[11:50] {nemo} chk .20 break?
[11:50] {Threei} make up your mind, take profit or trail
[11:51] {Threei} IMO, take profit
[11:51] {Threei} we are at random market time
[11:51] {Threei} CHK, if not losing .15 anymore
[11:52] {Threei} GE) EU's Almunia: The short selling ban recently implemented in Germany was not wise
[11:52] {Threei} {Germany} listen, you... don't tell me what to do and I won't tell you where to go
[11:56] {Threei} 58% Favor Repeal of the Health Care Bill
[11:56] {Threei} amazing consistency
[11:57] {jfjf64} back miss anythin
[11:59] {Threei} GS scalp
[11:59] {jfjf64} nice
[11:59] {jfjf64} i see
[12:00] {jfjf64} lvs drop
[12:06] {ese} L zion .25
[12:07] {Threei} nice setup
[12:12] {ese} tks
[12:12] {Threei} nemo, you took CHK scalp?
[12:13] {nemo} no, you didn't reply, so I held off...lunch time breaks
[12:13] {Threei} ??
[12:13] {Threei} 11:51] {Threei} CHK, if not losing .15 anymore
[12:13] {nemo} nevermind, just saw it
[12:13] {nemo} oh shit was watching fas too
[12:13] {Threei} why do I bother answering...
[12:14] {ese} 1 min cup and handle seems to be working.....looks like bank stocks are strong....not following dn movement in the market
[12:14] {Threei} WATG Hearing Rodman & Renshaw makes positive comments (timing uncertain) (8.13, +0.41, 5.31%)
[12:14] {nemo} it had scrolled to the EU comment before I saw your reply
[12:15] {Threei} what, you have 3 lines room window height?
[12:15] {nemo} about 25
[12:16] {nemo} was probably watching the stock, your reply and the EU comment were both 11:51
[12:17] {Threei} ahhh... now I am too fast, squezing many comments in one min... earlier jf blamed me with being too slow...
[12:17] {Threei} I just can't win, can I
[12:17] {Threei} {--- crying bitterly in the corner
[12:17] {nemo} no, I was probably focused on the stock debating whether to take it...not your fault
[12:17] {Threei} wow
[12:17] {Threei} WOW
[12:17] {Threei} something is NOT my fault??
[12:17] {Threei} wait, I'll call my wife to read it
[12:18] {nemo} I was just going to say, not according to your wife
[12:18] {ese} Out zion .20 =.05
[12:18] {ese} -.05
[12:18] {Threei} yeah... she dismissed the very suggestion that something may not be my fault ruight off hand
[12:21] {Threei} her words over the shoulders while leaving the room were "wait we still haven't talked about that volcano"...
[12:23] {dino} hmmm, june 3rd gaps filled dia 10255, s/p 1102, ndx open at 1895
[12:26] {ese} dino you onto or into anything
[12:28] {dino} stoped anat earlier, gut says 95 strike w/big bounce, so thats the thought
[12:28] {dino} see last month chart
[12:29] {dino} otherwise, bought some dia puts
[12:31] {dino} on my mind, last weeks retail ugliness, was bought not sold. hmmmm
[12:32] {dino} lastly, quite the tasty salad i'm eating
[12:34] {ese} what was the strike on those puts
[12:34] {dino} q? these cicuit breakers, will the mess w/capit/euphoric plays, seems to me they may
[12:34] {dino} 103
[12:35] {Threei} too early to worry about that I think
[12:35] {Threei} they speak of it for the next year
[12:35] {Threei} and no one knows in what form they will be implemented
[12:36] {dino} some started today, on 10% moves that will mess w/me
[12:36] {Threei} you mean stocks were halted today on such declines??
[12:36] {Threei} I haven't seen any
[12:37] {dino} no, cyber issued alert that trial basis started today
[12:38] {dino} 5 minute halts or something like that could/will take effect. not sure they even know
[12:38] {dino} just makes me wonder
[12:39] {Threei} 5 min halt may actually work for you even better
[12:39] {dino} could hurt the momos get stuck in quick halts, bids dry up, etc....i may be overthinking this
[12:39] {dino} agree w/that 3i, just figure on entering faster on contrary side
[12:40] {dino} momo's could experience, as mr t would say, pain
[12:40] {Threei} BP UK Energy Sec: Decision on the dividend is something for the company to decide (31.42, -2.55, -7.51%)
[12:41] {dino} sounds familiar, dividend is toast soon, imo
[12:41] {Threei} {UK Energy Sec, phoning BP} orphans and widows depend on you...
[12:41] {Threei} BP Congressional Panel: Some decisions made by BP appear to have violated some industry standards (31.12, -2.85, -8.39%)
[12:44] {Threei} Notes that some decisions were made for economic interest, aimed at reducing costs and being 'risky'
[12:44] {Threei} - Comments in a letter ahead of testimony before the panel by BP CEO Hayward on Thursday.
[12:45] {RonS} Hayward reply: Congress has no standards so how would they know one if they could ever see one.
[12:46] {Threei} {Congress} have too!
[12:51] {Threei} Short Setup: BP .80 break half lot
[12:52] {Threei} stop above .90 if sets up from here
[12:53] {dino} anat 95s printing
[12:53] {ese} in
[12:53] {ese} .79
[12:55] {Threei} 2 cents to 1:1? come on
[12:57] {ese} should have taken it at .73
[12:57] {Threei} ugh
[12:57] {Threei} no go
[12:57] {ese} covered
[12:57] {Threei} oh well
[12:57] {ese} .90 -.12
[12:57] {ese} -.11
[12:58] {Threei} RIG US Judge has reportedly signed order to limit scope of liabilities action (46.05, -0.80, -1.71%)
[12:58] {Threei} RIG spike on that
[12:58] {Threei} boosted BP too in all likelyhood
[12:58] {Threei} GE) German Chancellor Merkel: confirms she and Sarkozy have agreed to send joint letter to G20 on goals
[12:59] {Threei} Transocean Inc US Judge has reportedly signed order to limit degree of liabilities actions against the company
[12:59] {Threei} - exempts claims from the oil pollution acts with one exception
[13:00] {Threei} France and Germany agree on need for tax on financial transactions
[13:00] {Threei} - not happy with pace of financial regulation
[13:01] {Threei} more must be done to pass a bank tax.
[13:01] {Threei} - Sees witholding EU voting rights as a possible penalty for EMU member states breaking financial committments.
[13:01] {Threei} world certainly has lost its collective mind
[13:05] {dino} indeed
[13:06] {Threei} in a way, I feel relief
[13:06] {Threei} this kind of frees us from attempting to look more or less sane, doesn't it
[13:07] {Threei} down down down
[13:11] {Threei} - Moody's: "The Ba1 rating reflects our analysis of the balance of the strengths and risks associated with the Eurozone/IMF support package. The package effectively eliminates any near-term risk of a liquidity-driven default and encourages the implementation of a credible, feasible, and incentive-compatible set of structural reforms, which have a high likelihood of stabilizing debt service requirements at manageable levels,"
[13:12] {Threei} interesting
[13:13] {Threei} text is not really doing a good job explaining the downgrade
[13:13] {Threei} - The rating agency's base-case scenario envisions Greece implementing the policy changes it needs to stabilise its debt-to-GDP ratio at around 150% by 2013, and reduce its debt burden, defined as the interest payment/revenues ratio, gradually thereafter (expected at 20% in 2014).
[13:21] {Threei} market obviously doesn't get it either
[13:21] {Threei} first signs of panic turned into "huh? ok, whatever"
[13:28] {Threei} SBUX CEO: have NOT seen a decline in store sales recently
[13:28] {Threei} - Testing remote ordering of coffee
[13:29] {Threei} as in: order your coffee online from home computer to certain time, then walk in the store and hand in your order number to get your cup just brewed?
[13:29] {Threei} yeah, world is sane
[13:29] {Threei} me is vegetarian
[13:29] {Threei} nemo is sober
[13:29] {nemo} thanks for reminding me
[13:29] {Threei} always
[13:30] {Threei} and btw... I AM vegetarian, and I can prove it
[13:30] {Threei} we are what we eat, right?
[13:30] {Threei} cow eats grass - thus cow is vegetable
[13:30] {hawk} lol
[13:31] {dino} sm l anat ave .47
[13:31] {dino} brb
[13:32] {Threei} marklet feels to me like IF it does something, it's going to be a bullish side
[13:39] {Threei} I suspect rally is about to start
[13:39] {Threei} see if FAS pulls bacl to aboput .20 - .25
[13:39] {nemo} fas kinda' started
[13:43] {Threei} ok
[13:43] {Threei} 5 cents recross hunt
[13:43] {Threei} Long Setup: FAS .25 break
[13:43] {Threei} if ho,ding above .20
[13:45] {nemo} chk break of .00?
[13:46] {Threei} I think so
[13:46] {nemo} definite maybe
[13:49] {Threei} market lost drive
[13:50] {Threei} some more news somewhere
[13:52] {Threei} GR) Fitch comments that has no plans to cut Greece ratings in the near future
[13:53] {Threei} comfortable with ratings at edge of investment grade
[13:53] {Threei} - Will assess Greece Govt efforts at the end of the year
[13:56] {Threei} (US) US House of Reps has proposed trimming liability for ratings agencies (related MCO MHP FIM.FR )
[14:06] {Threei} (CA) Canada Fin Min: will consider a small phased in boost in national pension plan benefits
[14:09] {dino} out anat ave .22, +.75
[14:09] {dino} ugh too soon
[14:11] {hawk} nice trade dino
[14:13] {Threei} British Petroleum plc Fox's Gasparino: BP has hired advisors to fight off potential takeover attempts
[14:13] {Threei} - Goldman Sach and Blackrock among those rumored to have been hired as advisors by BP.
[14:13] {Threei} - Note: In recent weeks there had been numerous speculation that due to share price and other issues BP may be an attractive takeover target
[14:14] {dino} ty hawk
[14:19] {RonS} ye old dino gap fill?
[14:21] {dino} :D
[14:21] {dino} question is, does it hold?
[14:23] {Threei} IMO, yes
[14:23] {Threei} barring another news
[14:24] {dino} still need ndx, s/p gaps
[14:27] {RonS} v sm l .05
[14:29] {dino} aig
[14:33] {Threei} AIG is being true to itself
[14:33] {Threei} against gthe market, against FAS
[14:33] {Threei} just does what it wants
[14:39] {Threei} why does it feel to me like a bear trap...
[14:39] {nemo} yep
[14:39] {Threei} dunno guys, if my gut feel is right, time to try some longs
[14:39] {Threei} like FAS .75
[14:39] {Threei} but it's gut feelingh only, no technical clarity
[14:40] {Threei} so, verify with your gut
[14:40] {nemo} I don't have one
[14:40] {RonS} nemo = six pack abs
[14:40] {nemo} absolutely
[14:41] {Threei} invalidated for now
[14:41] {RonS} out v .90 -.15
[14:41] {Threei} or just forming bottom
[14:41] {Threei} hard to tell yet
[14:42] {nemo} spy not sure what it's doing yet
[14:42] {Threei} ok... revalidated
[14:42] {Threei} .75 break
[14:42] {Threei} discretionary call
[14:42] {Threei} as in: see if it looks right to you
[14:44] {Threei} if works, aim to sell half near .90
[14:44] {Threei} 1/4 near 23
[14:48] {Threei} OK, half out
[14:48] {Threei} scalpers, just take scalp
[14:48] {Threei} me be greedy
[14:50] {Threei} gut was right... nemo's 6-pack may look good but oh so useless in determining market direction {G}
[14:50] {nemo} I said I didn't have a gut
[14:53] {Threei} yeah?
[14:53] {Threei} do I speak english or what
[14:53] {Threei} 14:40] {nemo} I don't have one
[14:53] {Threei} [14:40] {RonS} nemo = six pack abs
[14:53] {Threei} [14:40] {nemo} absolutely
[14:53] {Threei} which I follow by indicating that it was no tool for market direction
[14:54] {nemo} chk .80 break oops
[14:55] {Threei} 1/4 more out
[14:55] {Threei} stop to under .80
[14:55] {Threei} and last target is between 23.05 and .10
06[15:00] * Threei kicks FAS in the rear
[15:01] {nemo} rimm break .85?
[15:01] {Threei} I think so
[15:02] {Threei} (UK) BoE's Posen: Bond purchases can serve to assist credibility of Central banks through implementation of inflation targeting
[15:02] {Threei} - Feels as though credibility was somewhat compromised when politicians asked for bond purchases
[15:02] {Threei} (EU) ECB's Bini Smagi: ECB's debt plan needs to aid markets, ECB cannot rescue insolvent issuers
[15:06] {Threei} BP guys face Seanate committee on Thu
[15:06] {Threei} rememberuing the idiocy of TM and GS hearings, this one should be just as interesting
[15:10] {Threei} Microsoft Corp Releases new Xbox 360 with new design, ships today - E3 conference
[15:10] {Threei} - New 360 includes Kinect, with no controller required
[15:10] {Threei} - Coming to Kinect this holiday are titles representing the top names in the gaming industry including interactive fitness product "EA SPORTS Active2"
[15:21] {Threei} last piece of FAS gone at 23.07
[15:21] {Threei} +.35
[15:23] {Threei} everyone's asleep?
[15:23] {nemo} ?
[15:23] {Threei} ?
[15:23] {hawk} ? nice call vad
[15:24] {Threei} ty
[15:32] {dino} gj
[15:34] {dino} pretty good drop
[15:35] {Threei} almost closed gap
[15:36] {nemo} closed gap
[15:37] {dino} s/p filled, ndx filled
[15:37] {Threei} DJI too
[15:37] {dino} next levels down 9899, 1778, 1055
[15:42] {dino} up or down vad?
[15:42] {Threei} down
[15:43] {nemo} yeah, was thinking rimm short, if it breaks .25 here
[15:55] {dino} lol, 70% on those dia puts from this a.m.
[15:55] {RonS} gj din
[15:55] {RonS} o
[15:56] {dino} booking that one
[15:58] {dptl} have a good evening all
[15:58] {nemo} gnite
[15:58] {Threei} thank you all
[15:58] {Threei} have a good evening, see you tomorrow
[15:58] {nemo} c ya
[15:59] {dino} cya dp
[15:59] {hawk} nite all