Session Time: Wed Jun 16 00:00:00 2010
[08:18] {hawk} good morning
[08:22] {Threei} gopod morning
[08:22] {Threei} -p
[08:30] {Threei} US) MAY HOUSING STARTS: 593K V 648KE;
[08:30] {Threei} BUILDING PERMITS: 574K V 625KE
[08:30] {Threei} US) MAY PRODUCER PRICE INDEX M/M: -0.3% V -0.5%E; PPI EX FOOD&ENERGY: 0.2% V 0.1%E
[08:30] {Threei} - PPI YoY: 5.3% v 4.9%e
[08:30] {Threei} - PPI Ex Food & Energy YoY: 1.3% v 1.1%e
[08:48] {Threei} (US) Treasury official denies chatter of IMF, EC and US discussing Spanish aid
[08:49] {Threei} how can US discussing aiding anything and anyone is beyond
[08:49] {Threei} me
[08:50] {nemo} printing presses
[08:51] {Threei} Lung cancer kills more people than any other kind
[08:51] {Threei} hmmm
[08:51] {Threei} but smoking dropped dramatically
[08:51] {nemo} more women
[08:51] {nemo} than men
[08:51] {nemo} got my mother
[08:55] {Threei} (SP) Reportedly Trichet wants clear commitment from EU govts to aid Spain in case its access to capital markets should be in danger (related EWP )
[08:55] {Threei} there
[08:55] {Threei} so much for denial
[08:55] {Threei} now... who's next after Spain?
[08:55] {Threei} wh is that around the corner, starting with P?
[08:56] {Threei} and another one, right after him, starting with I?
[08:56] {dptl} good morning
[08:56] {Threei} thought so
[08:56] {Threei} dp :)
[08:59] {Les} afternoon all
[08:59] {Threei} les :)
[09:00] {nemo} leslie
[09:00] {Threei} les, you must have missed my question yesterday, want to show you something
[09:00] {Threei} yuo have laser up and running?
[09:00] {Les} is there any rhyme or reason to laser being sometimes incredibly slow to load up? Is this normal?
[09:01] {Les} taking its sweet time
[09:01] {nemo} sometimes, but not often
[09:01] {Threei} your computer related, the only I can think of
[09:01] {Threei} if memory or processor are overloaded
[09:02] {Threei} UPDATE: Draft copy of new Dept of Education rules proposes barring for-profit colleges from linking pay for recruiters to the number of students they enroll
[09:02] {Threei} - The proposal would bar for profit schools from getting US aid if their graduates pay out over 8% of their starting salaries on loan payments. The new rules are also meant to prevent recruiters from using pressure sales tactics to convince potential students to apply for unaffordable government loans that they may later default on.
[09:03] {Threei} ok, tell me when laser is up, will show you what I meant yesterday
[09:04] {Les} will do. if trev gave me working password
[09:12] {Threei} US) Preview: May Industrial Production and Capacity Utilization due out at 09:15ET
[09:14] {dino} gm all
[09:14] {Threei} dino :)
[09:15] {Threei} *(US) MAY INDUSTRIAL PRODUCTION: 1.2% V 0.9%E; CAPACITY UTILIZATION: 74.7% V 74.5%E
[09:17] {larisa} gm :)
[09:17] {Threei} larisa :)
[09:18] {larisa} :)
[09:19] {ese} morning
[09:19] {Threei} ese :)
[09:19] {Threei} BP is dancing dangerously close to the edge
[09:22] {dino} bgt july puts on it yesterday
[09:24] {magoo} morn
[09:24] {Threei} magoo :)
[09:25] {shorty} morning
[09:25] {Threei} shorty :)
[09:25] {RonS} gm y'all
[09:26] {lasertrev} morning
[09:26] {hawk} was watching BP last night when news about the 60,000 barrels/day hit, big blocks at 31.40-.45 got ripped thru
[09:27] {Threei} ron, trev :)
[09:27] {Threei} that was about closing price, right?
[09:27] {hawk} yep
[09:28] {dino} fnm, fre being delisyed
[09:28] {jfjf64} mornin
[09:28] {RonS} bigger disaster than the gulf
[09:29] {Threei} jf :)
[09:29] {Threei} yeah, commons are wiped... or moved to BB
[09:29] {Threei} 29.80 is premarket low BP
[09:31] {Threei} 06:01 NBIX Signs collaboration deal with Abbott to develop and commercialize Elagolix for treating Endometriosis; to receive $75M upfront payment
[09:31] {Threei}
[09:35] {Threei} Short Setup: BP .80 break half lot
[09:35] {Threei} ugh, late
[09:36] {jfjf64} i lk that late
[09:36] {RonS} nok got knocked
[09:36] {Threei} same setup BP, after some consolidation
[09:36] {Threei} over 30 will be invalidated
[09:36] {jfjf64} finnies leadin way
[09:37] {jfjf64} wfc drop
[09:37] {jfjf64} big
[09:37] {ese} out remainder lvs .38
[09:37] {ese} tks vad
[09:38] {Threei} Long Setup: LVS .35
[09:38] {Threei} if stays above .25
[09:38] {ese} in .37
[09:40] {Threei} 1:1
[09:40] {Les} half out ty
[09:40] {ese} 1/2
[09:40] {Threei} stop to .29
[09:41] {jfjf64} out ty
[09:41] {jfjf64} sndk
[09:41] {jfjf64} lots vol
[09:41] {RonS} aapl running
[09:41] {Threei} Long Setup: RIMM .30 break half lor
[09:41] {nemo} jumped
[09:42] {Threei} stop for scalpers under .20
[09:42] {Threei} day traders .15
[09:42] {Threei} LVS 1:2
[09:42] {Threei} 1/4 more out
[09:42] {Threei} stop to b/e
[09:42] {Threei} BP (UK) UK PM Cameron: BP must be provided certainty with regards to its liabilities on the oil spill (30.43, -0.97, -3.09%)
[09:42] {jfjf64} vad keep eye hal
[09:42] {nemo} frig
[09:42] {Threei} RIMM no go
[09:43] {Threei} HAL, I'd feel much safer around 25.80 jf
[09:44] {jfjf64} ty
[09:44] {hawk} +.20 LVS, thx Vad
[09:44] {Threei} welcome
[09:44] {Threei} 1/4 is still here
[09:45] {Threei} HAL is closer to acceptable risk
[09:45] {Threei} let's see if forms clean setup
[09:46] {Threei} LVS 1:3, out in full
[09:46] {Threei} 1:4, lol
[09:47] {Threei} look at our entry on the 1 min
[09:47] {Threei} as close to ideal as it gets
[09:48] {Threei} still no clear entry HAL, but getting closer and closer
[09:48] {dino} sm l fdx .25
[09:48] {Les} bp too?
[09:48] {Threei} yes
[09:48] {Threei} I prefer HAL though
[09:48] {jfjf64} 61 hold 50
[09:49] {jfjf64} ??
[09:49] {Les} BP owes me money
[09:49] {Threei} let it pull back under .60 now
[09:49] {Threei} there
[09:49] {Threei} get it
[09:49] {Threei} on first strength
[09:49] {dino} fdx stopped -.30
[09:49] {jfjf64} y
[09:49] {Threei} stop .45
[09:51] {jfjf64} go baby
[09:51] {Threei} nice and clean
[09:51] {Threei} safe as heck
[09:51] {Les} bp consolidation here for a long entry?
[09:51] {Threei} take profit as you see fit
[09:51] {jfjf64} nice
[09:51] {Threei} not sure les, too jumpy
[09:52] {jfjf64} better then S X
[09:52] {Threei} HAL was clean example how I like these things to shape up
[09:52] {Threei} BP is a murderous volatility
[09:52] {dino} ups sm s .75
[09:52] {Threei} I'll leave to judge that, jf...
[09:52] {jfjf64} AHH
[09:53] {jfjf64} double bottom hal
[09:54] {nemo} hold .50 recross .60?
[09:54] {Threei} it's a valid trade, just less favorable odds than last time around
[09:54] {nemo} didn't hold :)
[09:54] {Threei} good
[09:55] {Threei} less temptation
[09:55] {nemo} bounced right of 200 at .46
[09:55] {nemo} reestablished?
[09:56] {Threei} 50/50
[09:56] {Threei} no clear read
[09:56] {nemo} had that wile e. coyote candle
[09:57] {nemo} hypothetical 1:1
[09:57] {nemo} :)
[09:59] {Les} bp short .80 break?
[09:59] {Threei} half lot
[09:59] {jfjf64} hal gonna fill gap
[09:59] {Threei} stop above 30
[09:59] {Threei} I'd prefer aggressive entries on it
[09:59] {jfjf64} ??
[09:59] {Threei} mostly because of enormus volatility
[09:59] {RonS} hal +.20 thxs jf
[10:00] {jfjf64} lol
[10:01] {dino} ups stopped, 0 for 2
[10:02] {Threei} FNSR Hearing takeover chatter circulating
[10:02] {Threei} - Cisco rumored as a potential acquirer (15.98, +0.24, 1.52%) (related CSCO )
[10:03] {Les} s BP .79
[10:03] {RonS} csco the default acquirer for every rumor...
[10:03] {Threei} lol
[10:05] {ese} L nbix .30 sm
[10:06] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:06] {Threei} **consensus expectations:
[10:06] {Threei} Crude: -1.2Me
[10:06] {Threei} Gasoline: +500Ke
[10:06] {Threei} Distillate: +1Me
[10:08] {Threei} Long Setup: WFC 28 break if holding .95
[10:09] {Les} bp stopped
[10:11] {ese} out nbix .24 -.06
[10:13] {RonS} fuqi
[10:14] {RonS} fuqi 5 mil sh short, 33% float...news 3i?
[10:15] {Threei} FUQI Hearing talk that CEO believes business trends have been improving (timing uncertain) (9.64, +0.71, 7.95%)
[10:16] {Threei} US Dollar vs Chinese Yuan (US) US Rep Levin: Will act upon China if Yuan rate does not change
[10:16] {Threei} - Note: This is similar rhetoric voiced before by Levin, which has support from Senators Graham and Schumer
[10:17] {Threei} why am I not excited about quality of decision-making when I hear "Levin and Schumer"...
[10:17] {RonS} you have no respect for idiocy?
[10:17] {Les} right vad. trev helped m e get laser open
[10:17] {Threei} I do Ron
[10:17] {dino} qcom l .00
[10:17] {nemo} childproof caps
[10:18] {Les} something like that
[10:18] {Threei} I consider it being a major engine of most world movements
[10:18] {Threei} Les, check the box Route On/Off, and click the arrow in Route
[10:19] {Threei} look through list of routes
[10:19] {Threei} find GETCO
[10:19] {nemo} Ron...ever read any H.L. Mencken?
[10:19] {Threei} that's your way into mysterious world of dark pools
[10:19] {nemo} welcome to the dark side
[10:19] {RonS} mencken...just quotes
[10:19] {Threei} if there are shares via GETCO, you get your fill with no ECN fees
[10:20] {nemo} that's in the smart route, yes?
[10:20] {Threei} no
[10:20] {Threei} separate route
[10:20] {nemo} oh
[10:20] {Threei} they were going ti implement quick check on GETCO for shares before going to other venues into Smart
[10:20] {Les} so when would I be trying to use GETCO?
[10:20] {Threei} not sure when it's going to be done
[10:21] {jfjf64} uaua
[10:21] {Threei} well, not all stocks are traded there
[10:21] {jfjf64} 5min
06[10:21] * nemo slaps lasertrev around a bit with a large Question by Vad
[10:21] {Threei} most popular as we know are C, BAC, GE
[10:21] {nemo} fnm an fre
[10:21] {Threei} if you feel you have time for execution on a thick stock, check GETCO first
[10:21] {nemo} oh...not anymore
[10:21] {Threei} if no shares there, your order will be rejected,
[10:22] {Threei} it's fill or kill kind, it won't turn into bid
[10:22] {ese} dino have you taken a look at jdas at all dn a couple of bills
[10:22] {Threei} set a keyboard shiorcut for that,
[10:22] {Threei} so you don't waste time for mouse clicks
[10:22] {ese} 3 and bit to be exact
[10:22] {dino} lets see
[10:22] {Threei} quck check on GETCO, if rejected - go to your usdual routes
[10:22] {dino} court case los
[10:23] {ese} ya
[10:23] {ese} not really positive
[10:23] {Les} usual routes being nasdaq?
[10:23] {Threei} or ARCA
[10:24] {Les} ok laser had defaulted arca for me
[10:25] {dino} gut says long, off of .75 if it gets there again
[10:27] {ese} hmmmmmmm...might be worth a sm lot try
[10:28] {Threei} watching LVS for short
[10:28] {Threei} want it to go over .50,
[10:29] {Les} bp tightening up vad for a b/d maybe
[10:29] {Threei} stay under .60, cpnsolidate for a few, then break .50
[10:29] {Threei} Les, I want to leave it alone
[10:29] {Les} ok
[10:29] {Threei} this is not a stock that I can read with any relibility today
[10:30] {Threei} *DOE CRUDE: +1.7MM V -1.2ME
[10:30] {dino} ups rinsed
[10:30] {Threei} GASOLINE: -630K V +500KE; DISTILLATE: +1.8M V +1ME; UTILIZATION: 87.9% V 89.1%E
[10:30] {ese} L gild .75
[10:32] {Les} lvs .40 break .50 stop adjustment ok?
[10:32] {Threei} only if market drops sharply
[10:32] {Threei} not really delighted
[10:33] {Threei} the scheme I described was ideal, just happened way too fast, without due consolidation
[10:35] {Threei} inhale deeply before reading the following
[10:35] {Threei} IMF: Financial markets can create 'major risk' to global economic growth - reporte to G-20 dated 6/5
[10:36] {Les} so lets scrap financial markets...
[10:36] {Threei} I swear, at some point in the recent couple years I fell through some crack into parallel universe
[10:36] {ese} stop to break even gild
[10:36] {dino} these guys are insane, they do not understand business 101
[10:36] {Threei} in the one I used to inhabit common sense actually had place
[10:37] {Threei} in this one all causdation lost sense
[10:37] {Threei} causation too
[10:37] {Les} lvs 1:1
[10:37] {Threei} TIVO Hearing company has hired Morgan Stanley to explore strategic alternatives (timing uncertain) (8.53, +0.09, 1.07%)
[10:38] {dino} qcom gap filled
[10:38] {ese} ahhhhhhh not just alternatives.....but strategic alternatives.....ahhhhhhhhhhh
[10:38] {Threei} yes
[10:38] {Threei} fishing for a buyer
[10:39] {Threei} les, you went for LVS?
[10:39] {ese} out 1/2 gild .86 +.11
[10:39] {Les} yeh covered +.09
[10:39] {Threei} ok
[10:40] {Threei} more wisdom from IMF:
[10:40] {Threei} - If risk aversion persists, advanced economies' growth will suffer
[10:40] {Threei} - Calls for G20 countries to create medium term plans for fiscal adjustments; there is no need for advanced economies to tighten interest rates before 2011, and to do so may hurt recovery
[10:41] {dino} roflol
[10:41] {Threei} so, which is it: financial institutions got us into this mess by taking too much risks, or risk aversion kills growth?
[10:43] {Les} monty python material
[10:45] {ese} gild....classic trade here......working like a plan
[10:46] {nemo} bby break of .15?
[10:46] {nemo} not much R/R
[10:47] {Threei} just not worth it, nemo
[10:47] {nemo} nope
[10:47] {Threei} GILD's nice ese
[10:48] {Threei} so now internet is full of "let's nuke the well"
[10:48] {ese} yup......and i've followed your sell 1/2 let half ride plan to a tee
[10:48] {Threei} crowds of sudden specialists in nuclear explosions recommend the course of action
[10:48] {nemo} Sonafa' bby went 1:1
[10:49] {dino} you think about it, that was one hell of an oil find
[10:49] {Threei} exploding nuke a mile deep... sure, what could possibly go wrong
[10:49] {dino} the russians did it once on a spill thats where its coming from
[10:50] {Threei} yeah
[10:50] {dino} jdas db?
[10:50] {Les} from what I've read the floor of gulf is already fractured
[10:50] {dino} sm l .60
[10:50] {Threei} I doubt it dino, looks more like breakdown to me
[10:50] {dino} too late, in
[10:50] {Threei} risk is small
[10:50] {Threei} why not
[10:50] {dino} stop is .34
[10:51] {ese} still nursing gild dino.....missed it
[10:51] {dino} you are correct
[10:51] {Threei} russians did so many things... I sure hope we don't decide to repeat all of them
[10:51] {dino} gild was nice
[10:52] {ese} still is.....still got 1/2 to go
[10:52] {ese} waiting for something parabolic
[10:52] {ese} like now
[10:52] {Threei} but, whoever decides to turn the Missisipi around, can turn to their experience
[10:53] {ese} out gild .00 +.25 remainder
[10:53] {Threei} 1/4 more out ese?
[10:53] {Threei} ok
[10:53] {ese} opps
[10:53] {Threei} I'd try 1/4
[10:53] {Threei} and stop to about .85
[10:53] {dino} gj es
[10:53] {ese} hmmmmmmm tks will go with that next time
[10:53] {Threei} but hey, you started this stuff with partialling out
[10:53] {dino} anat ames again
[10:53] {Threei} so ease into it :)
[10:53] {dino} thin
[10:54] {Threei} also, one thing for you to have in mind is,
[10:54] {dino} jdas stopped
[10:54] {ese} that was a classic trade.....wish they were all like that
[10:54] {Threei} with your cujrrent commissions scheme it's additional expence for you to partial out more,
[10:54] {Threei} if you switch to per share commissions it will be easier to do
[10:55] {Threei} as it's not a per order, your commissions stays the same no matter you exit in full or in 10 portions
[10:56] {dino} rally
[10:57] {jfjf64} i think
[10:57] {dino} rino animal las few days
[10:57] {dino} jdas sm l .50 last try
[10:58] {ese} L nbix .21 sm...giving this another shot
[10:58] {Threei} CAL US House Rep Oberstar: Will oppose the merger with United (24.95, +0.24, 0.97%)
[10:58] {nemo} stop under .30 dino?
[10:58] {Threei} dino, see huge offer .53?
[10:58] {Threei} if that is taken, your trade will work
[10:58] {nemo} if it's not fake
[10:59] {Threei} then it will disdappear as price touches it
[10:59] {Threei} and it will work anyway
[10:59] {nemo} good size bid .41
[10:59] {Threei} GILD, this is where I'd be exiting last piece, ese
[10:59] {nemo} gone
[11:01] {dino} ironically taken and dropped
[11:01] {Threei} it wasn't
[11:01] {nemo} no
[11:01] {nemo} disappeared
[11:01] {dino} hit .58
[11:01] {Threei} that was before
[11:02] {ese} ahhhhhhh tks vad
[11:02] {Threei} it pulled back to .50, and rthat's when that offer appeared
[11:02] {dino} missed it then was on anat and qcom to
[11:02] {Threei} I have to say, if that's a real seller, he is an idiot
[11:02] {Threei} but most likely he isn't
[11:03] {dino} gxdx
[11:07] {dino} jdas stopped again .19
[11:08] {nemo} rally
[11:09] {Threei} neighbor of the guy who went to hunt OBL says 'I think he can do it"
[11:09] {Threei} parallel universe...
[11:09] {Threei} chronoclastic infundibula
[11:11] {Threei} OVTI
[11:11] {Threei} watching for short
[11:11] {Threei} want to see consolidation between 21 and 21.10
[11:11] {Threei} then break
[11:12] {nemo} oh well
[11:13] {Threei} that's OK, let it bounce back, or form new consolidation range
[11:14] {dino} gxdx sm l .02
[11:15] {dino} size it to fl
[11:15] {dino} stop .89
[11:17] {Threei} (US) US Senate declines to vote on tax code, extension of unemployment benefits legislation
[11:17] {Threei} hey, that's a good idea actually
[11:18] {Threei} "we have no idea what to do, we just won't vote at all"
[11:18] {ese} out 1/2 nbix .33 +.12
[11:18] {ese} stop to .25 remainder
[11:18] {nemo} wow lvs
[11:19] {Threei} Baucus has put forth a subsequent recommendation on the legislation
[11:19] {Threei} - Legislation would renew unemployment benefits, correct medicare doctor payments; biodiesel tax credit extension; and place tax on fund managers profits
[11:19] {hawk} thx for qcom dino, out 1/2 +.18
[11:19] {dino} gj
[11:19] {dino} want .20ish
[11:20] {nemo} .20 is just about 200 ma
[11:21] {dino} gxdx stopped. taking break
[11:21] {ese} out in full nbix .36 +.15 remainder....damn phone is ringing
06[11:22] * Threei mails ese scissors to cut the cord
[11:22] {Les} crap gxdx was thinking about 18 short but jeez
[11:22] {Threei} Short Setup: OVTI 20.90 break if stays under 21
[11:23] {dino} f'ng rinses today, that 3
[11:23] {Threei} invalidated
[11:23] {ese} school called......am outta here for the day all....see ya tomorrow
[11:23] {Threei} take care ese...
[11:23] {Threei} should have cut that cord
[11:23] {Les} got you chained up good and proper ese...
[11:23] {dino} cya es
[11:23] {ese} i'll use my own scissors
[11:28] {dino} the celtics looked bad last night
[11:28] {nemo} They're done...Perkins is gone
[11:28] {dino} can't play tomorrow?
[11:28] {nemo} doesn't look like it
[11:29] {Threei} LVS, pullback under 27 for long entry hunt
[11:29] {dino} bummer
[11:32] {Threei} AT&T Corp Issues statement on pre-order iPhone 4 sales
[11:32] {Threei} iPhone 4 pre-order sales yesterday were 10-times higher than the first day of pre-ordering for the iPhone 3G S last year. Consumers are clearly excited about iPhone 4, AT&T's more affordable data plans and our early upgrade pricing.
[11:33] {Les} economy and employment must be roaring along...
[11:33] {Threei} Given this unprecedented demand and our current expectations for our iPhone 4 inventory levels when the device is available June 24, we're suspending pre-ordering today in order to fulfill the orders we've already received
[11:33] {Threei} - The availability of additional inventory will determine if we can resume taking pre-orders
[11:33] {Threei} - In addition to unprecedented pre-order sales, yesterday there were more than 13 million visits to AT&T's website where customers can check to see if they are eligible to upgrade to a new phone; that number is about 3-times higher than the previous record for eligibility upgrade checks in one day.
[11:34] {Threei} economy or not people NEED their iPhones!
[11:34] {Les} like we need a hole in the head
[11:34] {nemo} well, you don't need anymore...let's put it that way
[11:34] {Threei} I'll give you a clear indication for the end of the world coming
[11:34] {nemo} wow, somebody finally believes me
[11:35] {Threei} when you hear that I've got iPod, iPhone and iPad...
[11:35] {Threei} you know the world is done
[11:35] {dino} good then i don't need to buy one
[11:36] {larisa} my grandma was saying the same about color TV vad :)
[11:36] {Threei} lol
[11:37] {Threei} she was unreasonable... end of the world is much better viewed in full color
[11:37] {larisa} no doubt, your reasons are much better :)
[11:37] {Les} was grandma reasonable larisa, or are you saying vad is an old fuddy duddy?
[11:37] {dino} both
[11:37] {Threei} Congress Tells BP to Fix the Leak Before End of the Summer
[11:38] {Les} or what?
[11:38] {dino} whoooooo! like that makes a difference
[11:38] {Les} launch a strike upon its HQ?
[11:38] {dino} like they are not doing all they can
[11:38] {Threei} yeah
[11:39] {Les} wonder if someone can tell congress to fix up its act by end of summer?
[11:39] {Threei} and if they succeed, congress "telling them" will have as much to do with it as if I commanded sun to set this evening
[11:40] {dino} the ruling class is, i'm sorry to say, a joke
[11:40] {Les} long jdas .68 small
[11:40] {shorty} out LVS .11
[11:40] {Threei} took 27 shorty?
[11:40] {shorty} yes
[11:40] {Threei} :)
[11:40] {shorty} :)
[11:40] {shorty} ty
[11:41] {Threei} good to know someone pays attention
[11:41] {Threei} discretionary call:
[11:41] {Threei} Long Setup: AIG .10 break
[11:41] {Threei} argh
[11:41] {Threei} ok, pullback
[11:41] {Threei} reasonabkle entry
[11:41] {Threei} on another recross
[11:42] {Threei} if stays above 38 of course
[11:43] {nemo} BP wtf
[11:44] {dino} jdas sm l .51
[11:44] {dino} gxdx sm l .60
[11:45] {RonS} Congress tells Army Corps od Engineers to lash the Gulf. Says Xerxes had it right.
[11:47] {Threei} {Army Corps} we need a supply of whips... some leather maybe?
[11:48] {Threei} no go AIG
[11:51] {Threei} president's remarks soon on meeting with BP execs
[11:52] {RonS} "i kicked their butts...and made them bet on the Celtics."
[11:52] {dino} jdas stopped again, done w/it
[11:52] {Les} stopped here 2
[11:53] {dino} 20 strike perhaps les
[11:53] {Threei} BP's squeeze potential is enormous - if anything good finally comes its way
[11:53] {Threei} multipoint mover
[11:53] {nemo} 10 or 20 probably
[11:54] {Les} happy to go long with it when the market wakes up
[11:54] {dino} amat sm l .86, wide risky, thin
[11:54] {RonS} dang hal
[11:55] {nemo} short or long Ron?
[11:55] {RonS} wish i was still long...no position
[11:56] {Threei} BP...
[11:57] {nemo} long .60 :)
[11:57] {Threei} partial
[11:58] {Threei} at least
[11:58] {nemo} got to it as it broke, didn't get it
[11:58] {Threei} oh
[11:59] {Les} took a small slice .13 but not gung ho on it
[12:00] {Threei} BP Agrees to place $20B in escrow to handle oil spill claims - NYT (31.12, -0.28, -0.89%)
[12:01] {Threei} momo
[12:02] {Threei} squeeze is on
[12:03] {Les} another .25
[12:04] {Les} gotta hand it to the swiss. they beat the spanish in football 1-0
[12:04] {shorty} I didn't know they played football. Canadian rules or American?
[12:05] {Les} dumbass
[12:05] {nemo} that's what they call soccer in Europe
[12:05] {shorty} lol
[12:05] {Les} sorry shorty, taking the mickey out of your
[12:05] {Les} you
[12:05] {nemo} easy on shorty, he's quite polite
[12:05] {Les} yeh soccer to me and you
[12:05] {Les} but i been here long enough now to call it football
[12:06] {dino} .
[12:06] {shorty} I know..I know... This year is the first year I have watched the world cup.
[12:06] {Les} no I remember shorty telling me once I suck at trading...
[12:06] {Les} payback
[12:07] {RonS} i watched soccer...once.
[12:07] {Les} it is a girly man sport
[12:07] {Les} can't stand this primadonna's falling over all the time
[12:07] {shorty} I don't recall. Even if it's in the log, I am not guilty. My mind was drunk.
[12:09] {dino} you guys cracking me up today
[12:09] {Threei} Kenneth Feiberg has been tapped to handle claims process for BP as the independent third party administering the $20B escrow fund - WSJ
[12:09] {Threei} - Note: Feinberg is currently the 'pay czar' dealing with executive compensation as banks accepting US aid
[12:10] {dino} why would bp even do this? there is no law fo this
[12:11] {Threei} horrific precedent too
[12:11] {RonS} watsa matta...can't you spell Chicago shakedown?
[12:11] {Threei} unless there is a twist to it
[12:11] {Threei} as in:
[12:11] {dino} no kidding, its a "takings" issue, sounds like a chavez idea
[12:12] {Threei} agreement reached says, here is your requested 20B, and we are free from further claims and we are not handling payouts
[12:12] {dino} it must otherwise....
[12:12] {dino} legal extortion
[12:13] {Threei} if this is what they agreed on, then this price spoike is understandable
[12:13] {Threei} BP essentially bought their way out, and 20B is not something that kills them
[12:13] {nemo} politician's modus operandi
[12:13] {dino} this will not be the end of it.
[12:14] {Threei} most likley... we are talking about perception at the moment though
[12:14] {Les} wait until US military nukes the gulf and then we'll see whose fault it is for the next mess...
[12:15] {Les} maybe BP'll be up for another 20B
[12:15] {dino} tsunami
[12:16] {Les} jdas looking interesting if only market plays ball
[12:16] {nemo} well, they'll charge BP for the ordnance, delivery and installation
[12:16] {Threei} BP Reportedly planning to brief investors at 2:00pmET (31.46, +0.06, 0.19%)
[12:17] {nemo} gonna' tell them to invest in vaseline
[12:17] {Les} hehehe
[12:17] {Threei} all this "nuke the well" is just silly talk
[12:17] {Threei} I bet anything you want it will never happen
[12:17] {nemo} never say "never"
[12:20] {RonS} 3i, any gas left in ffiv if it breaks the hod?
[12:20] {Threei} with market help, sure, but the problem is size of the stop
[12:20] {Threei} quite wide range
[12:21] {nemo} Jdas may be ready to go, those last two big bars may have been to slam stops before launching
[12:22] {Threei} US) House finreg bill negotiators agree to reverse court ruling on Stoneridge, barring shareholders from suing third parties in securities fraud cases
[12:22] {Threei} wow
[12:23] {Threei} GIS
[12:23] {Threei} General Mills Inc Release posted and distributed last night via PR Newswire was a hoax.
[12:23] {Threei} - The release was posted with the headline Obama Orders Full Investigation of General Mills Supply Chain Following Food Recalls. There was no truth to the information in the hoax release, and it was removed within minutes when it was detected by General Mills, but headlines and stories appeared briefly on Dow Jones Newswire, WSJ Online and Fox Business News. Those stories were retracted and removed, but automated alerts from services such as Google further disseminated the false headlines, some with links to the hoax release or to retracted news stories.
[12:23] {dino} ok nemo, i'll bite l .00 hl, stop .73
[12:23] {nemo} oh jeez...
[12:23] {Threei} - Exec: "This information did not come from the company. It was not authorized or confirmed by the company. We are shocked that it was posted. It was quite clearly and obviously a hoax."
[12:24] {nemo} sonafa'
[12:28] {nemo} good luck dino
[12:28] {Threei} Long Setup: LVS .05
[12:28] {Threei} if stays above .95
[12:30] {dino} :D
[12:31] {Les} damn missed jdas doing dinner
[12:32] {dino} jdas stop to .24
[12:33] {RonS} rig moving rather independently of bp
[12:33] {nemo} huge offer .07 lvs
[12:33] {Threei} market weakens
[12:34] {nemo} out
[12:34] {dino} out qcom .19, +.19
[12:34] {RonS} nq still strong
[12:35] {dino} out .40 jdas +.40 ty nemo, nice read
[12:35] {nemo} yeah, I shoulda' taken it
[12:35] {Threei} wtg
[12:35] {nemo} I see that on basing alot
[12:35] {nemo} you get that last attempt to slam the stops
[12:35] {dino} you'r good at bottom spotting
[12:35] {hawk} nice dino
[12:36] {dino} ty
[12:36] {dino} wow drop
[12:36] {nemo} yeah
[12:38] {dino} gxdx to .99
[12:38] {dino} out +.39
[12:40] {Threei} NLST Hearing Harry Boxer initiates with Buy rating and $4.50 price target (timing uncertain)
[12:41] {dino} that his fighting name?
[12:41] {hawk} I have a pair of those
[12:41] {dino} lol
[12:41] {RonS} Barb's hubby?
[12:41] {dino} ouch barbed boxers
[12:42] {nemo} need ese for a rim shot
[12:42] {RonS} nlst...hairless boxer intiates a sell rating
[12:42] {hawk} lol
[12:43] {dino} jdas that .00 area held
[12:43] {nemo} bounced right back to highs
[12:43] {RonS} RIGgy acting jiggy...looking for an entry...
[12:46] {dino} rino animal continues up $3 in 3 days
[12:47] {RonS} hmm, i think the soft commods have been strong...does this correlate to that, or China?
[12:49] {RonS} bp trying to drag rig lower
[12:51] {nemo} spy bounce .80 area
[12:52] {RonS} .80 ?
[12:52] {nemo} my opinion...we know what that's worth
[12:53] {nemo} looks like bounce at .83
[12:53] {RonS} oh, spy...i use the .spx
[12:54] {nemo} sorry
[12:54] {RonS} spy support on the 50 sma, nemo?
[12:54] {nemo} 200
[12:55] {nemo} at least according to laser
[12:55] {nemo} in 1 minute
[12:55] {nemo} time frame
[12:58] {RonS} nemo, does not match mine. Is yours ema, not sma?
[13:01] {nemo} laser only does sma
[13:04] {RonS} ...when you overlay the rig chart on bp you can see how the rig move preceded bp almost indentically by an hour. Now, if i ran the SEC...
[13:10] {nemo} dino, guess that was the bottom on jdas
[13:10] {dino} jdas hl l .40
[13:10] {dino} yes nemo
[13:10] {RonS} hl = ?
[13:10] {nemo} Half Lot
[13:10] {dino} good call
[13:11] {dino} y
[13:11] {RonS} txs, i was wondering if it was heavy long.
[13:11] {nemo} wow
[13:12] {dino} sm=300, hl=500, fl or no mention 1k
[13:12] {larisa} http://acronyms.thefreedictionary.com/HL
[13:13] {larisa} I like Hit List from there :)
[13:15] {Threei} lol
[13:15] {Threei} Fresh "thought of the day" by me:
[13:16] {Threei} If a known saying is right, the rate of my personal consumption can keep away at least 3-5 doctors daily. At such pace I am going to run out of doctors to keep away in a year or so - including foreign-trained ones
[13:17] {dino} out .69, +.29 jdas
[13:17] {RonS} OK larisa, explain it to me...
[13:17] {Threei} you finally tamed it
[13:18] {larisa} I just wanted you to pick one HL you like Ron:) no other country loves abbreviations as much as US :)
[13:18] {Threei} not true larisa
[13:18] {Threei} just remember all the insane soviet abbreviations
[13:18] {RonS} ...i meant vad's comment...lol
[13:19] {Threei} like shkrab
[13:19] {larisa} his comment is just silly :)
[13:19] {Threei} oh... Ron, it's easy
[13:19] {Threei} reference to "aapl a day keeps doctor away"...
[13:19] {Threei} ok, it'a actually apple :)
[13:19] {Threei} AAPL is trader's version
[13:20] {larisa} same doctor every day Vad :) he keeps coming, you need to protect yourself. Your logic is wrong
[13:20] {Threei} oh... :(
[13:21] {RonS} shkrab, as in, i hope that hooker doesn't have shkrabs...
[13:21] {Threei} wait... is he an idiot? why come again and again?
[13:21] {Threei} rofl Ron
[13:22] {dino} avgo
[13:23] {Threei} US House reportedly seeks to add a study of 'secured creditor haircuts' to financial reform bill, seeking to put pre-funded liquidation fund back into the bill
[13:23] {Threei} - House also seeks 15 to 1 leverage cap on large financial institutions.
[13:24] {RonS} 15 to 1...sheesh
[13:26] {RonS} avgo curious...no squeeze...shares avail to short...
[13:26] {RonS} ...no news...
[13:29] {RonS} squeeze possible, praa, 4 mil short, 23% float
[13:33] {RonS} praa purchases and manages defaulted consumer receivables
[13:42] {Threei} Mexican president Calderon Saya Growing Violence Is US Fault
[13:43] {RonS} what, not George Bush?
[13:43] {Threei} oh, hat's for internal redistribution to designate paticular name
[13:45] {dino} gxdx lod
[13:46] {Les} remember stratfor article on mexico
[13:46] {dino} lol ron
[13:46] {Les} mexico govt. not too stressed about going to war against drug gangs.
[13:47] {RonS} Calderon says Obama loves being whipped by foreign leaders so he is compelled to join in. "His desire for masochism exceeds that of the Iranians' self-flagellation."
[13:47] {Les} nth mexico relatively unpopulated, and lots of money coming into mexican economy
[13:47] {RonS} relative to what?
[13:48] {Les} central mexico and capital
[13:48] {Les} billions coming in, from drug cartels and american govt.
[13:52] {Threei} hard to tell whether we break out of consolidation or is it just another little meaningless move
[13:53] {dino} range day imo
[13:53] {Les} HAL .55 b/d if holding .60?
[13:54] {Threei} 50/50
[13:54] {Les} or vice versa if long
[13:54] {Les} yeh ok
[13:54] {Threei} right
[13:54] {Threei} if risk is fine, take it
[13:54] {Threei} this is kind of what Alan farley called "risk-based setup"
[13:55] {Threei} meaning, odds of it working are even or unknown,
[13:55] {Threei} but the risk is so small, it ca be taken on that alone
[13:55] {Threei} there you go, 1:1
[13:56] {Les} half out
[13:56] {dino} gxdx hl l .60
[14:00] {Les} HAL 1:2 all out
[14:00] {Les} ty
[14:00] {nemo} X coul be interesting if it breaks 77
[14:01] {Threei} 1:3
[14:01] {Threei} why hurry
[14:01] {Les} dirty HAL
[14:01] {Threei} market breaks the range
[14:01] {nemo} here comes the rally
[14:01] {Les} yeh premature evacuation
[14:03] {Les} l jdas .69
[14:03] {dino} watch 10444 dia gap
[14:03] {nemo} sorry, I meant V
[14:04] {dino} fdx hl l .50
[14:13] {dino} back in 20
[14:20] {RonS} Obama coming on TV...
[14:26] {Threei} here he is
[14:26] {nemo} Visa just dropped
[14:27] {Threei} .30 break BP
[14:27] {Threei} half lot
[14:28] {Threei} stop under .15
[14:28] {dino} fdx stopped while out
[14:28] {Threei} gamble on speech
[14:28] {nemo} out
[14:28] {Threei} nope
[14:28] {Threei} started well
[14:29] {Les} oh crap you went long
[14:29] {Les} I was short
[14:29] {nemo} lucky you les
[14:29] {Les} covered +.10
[14:29] {Les} awwwww maaaaaaan
[14:29] {shorty} BP
[14:29] {RonS} Obama Says $20B Is Not A Cap 06/16 12:29 PM
[14:29] {Threei} yes
[14:29] {Threei} that's what killed it
[14:29] {shorty} momoing again
[14:30] {Threei} British Petroleum plc President Obama: Confirms BP agrees to create $20B escrow fund administered by an independent third party to handle claims and damages from oil spill
[14:30] {Threei} - Reiterates $20B fund is not a 'cap'
[14:30] {Threei} - Highlights that the current $75M cap for economic damages was insufficient (to which BP had agreed given recent $20B announcement)
[14:30] {Threei} shrug
[14:31] {nemo} OH F}}}ME!!!!
[14:31] {Les} nice spike
[14:31] {Les} damn covered fdx too early. weaker than i thought
[14:32] {Les} just made it flat. what an unpleasant day
[14:33] {Threei} great
[14:33] {Threei} right read, rinse
[14:33] {dino} nice one les
[14:34] {RonS} Obama: BP To Set Aside $100M For Those Who Lost Jobs From Drilling Moratorium 06/16 12:30 PM
[14:34] {RonS} unreal
[14:34] {Threei} - It is in everyone's interest that BP remain a strong company
[14:35] {dino} obama issues moratorium, then pays for it w/our $
[14:35] {RonS} BP must remain strong, viable company: Obama 06/16 12:31 PM
[14:37] {RonS} BP attaches second containment system to spill 06/16 09:28 AM
[14:39] {Threei} BP *CONFIRMS CANCELLATION OF DIVIDEND FOR FIRST THREE QUARTERS OF 2010 (31.20, -0.20, -0.64%)
[14:40] {Threei} not in a short list
[14:40] {Threei} grr
[14:41] {dino} watch the sales start from retiree accounts
[14:42] {dino} jdas nemo
[14:43] {nemo} wow
[14:43] {Threei} BP will make payments of $3B into escrow fund in Q3, $2B in Q4 and then $1.25B per quarter until the initial $20B has been paid.
[14:43] {dino} will 22 hold?
[14:44] {nemo} no eye deer...21.50 valid support too
[14:44] {dino} so pmts over about 17 q's or 4 years
[14:45] {dino} jdas is the 40k real at .10
[14:46] {nemo} 401,000
[14:46] {nemo} 101,000 bid at .05
[14:46] {dino} gones
[14:46] {nemo} BS
[14:47] {dino} my setup states as is nemo, you sure on your 400k
[14:47] {nemo} don't understand dino
[14:48] {dino} i was showing 40000 not 400000
[14:48] {nemo} right, sorry dino
[14:48] {nemo} I added an extra zero, excuse me
[14:49] {dino} np
[14:49] {nemo} they were big anyway
[14:49] {dino} made me check my settings
[14:49] {nemo} sorry
[14:49] {dino} relax
[14:49] {dino} hl l .00
[14:50] {dino} they are appealing the ruling
[14:52] {Threei} looks like digeting the news, market decides BP has some relief finally
[14:52] {Threei} APC Receives bill for Gulf spill cleanup from BP; notes Anadarko is not involved in oil spill escrow account negotiations (43.07, -1.64, -3.67%)
[14:53] {nemo} bp momo
[14:54] {Threei} EU) Reportedly draft document states that EU leaders plan to ratify Estonia as member of Euro Zone at European summit on 6/17
[14:54] {hawk} i'm pretty happy it wasn't on the short list at laser
[14:55] {Threei} it gave quick 40 cents
[14:55] {hawk} true, i'm not that fast, rusty fingers
[14:55] {Les} what's laser short list?
[14:55] {hawk} stocks they have available to short
[14:55] {Threei} list of stocks available for shorting
[14:56] {Les} ok
[14:56] {nemo} Shorty's stocks
06[14:57] * Threei sends hawn a can of WD40
[14:57] {Threei} hawk that was, sorry
[14:57] {hawk} :) thought maybe it was for Goldie
[14:58] {Threei} lol
[14:59] {nemo} where's you stop on jdas dino?
[15:02] {Threei} BP is serious
[15:02] {Threei} squeezing
[15:03] {shorty} Got to go. See you tomorrow.
[15:03] {dino} .73
[15:03] {Threei} take care shorty
[15:03] {dino} cya shorty
[15:04] {Les} ciao shortster
[15:04] {RonS} BP: Fines And Penalties Not Covered By $20B Escrow Fund 06/16 12:58 PM
[15:04] {Threei} pullback to about .65 - .70 should be buyable
[15:04] {RonS} BP: Cash Flow From Operations To Exceed $30B In 2010 06/16 01:03 PM
[15:05] {Threei} .70 break
[15:05] {Threei} if holding .55
[15:05] {Threei} small shares
[15:06] {Threei} dive under .50, finding the tange and recross
[15:06] {Threei} range
[15:07] {Threei} too fast...
[15:08] {Threei} .60 break
[15:08] {Threei} if holding .45
[15:08] {Threei} 1:1
[15:09] {Les} talk about riding the bull
[15:10] {nemo} that's listening to you talk
[15:10] {Les} I got screwed good and proper buying the breakouts, not the pullbacks on the way up
[15:10] {Les} that's pretty good
[15:10] {nemo} ty
[15:10] {Les} plenty of practice required
[15:10] {Threei} Les... how many times did we say that you NEVER buy breakouts on momo movers?
[15:11] {Les} how often do I listen to you?
[15:11] {Threei} there
[15:11] {nemo} Yeah Vad
[15:11] {nemo} oh, bp looks short here
[15:11] {nemo} too bad
[15:11] {Threei} RIG
[15:11] {Threei} sudden drop
[15:11] {Les} yeh when you look at the pullback entries you see that they work perfectly
[15:12] {Threei} well
[15:12] {RonS} BP CFO: Expect All Partners In Leaking Well To Meet Legal Obligations 06/16 01:11 PM
[15:12] {Threei} you have a choice to utilize my experience or collect your own
[15:12] {dino} that was close nemo
[15:12] {Threei} sure, you need some of your own, but why do it 100%?
[15:12] {Les} sure sure sure
[15:13] {Les} but its more about...
[15:13] {Les} fighting the urge to jump on board the train
[15:13] {Threei} look at it this way: I made enough mistakes in my trading career to fill your share
[15:13] {nemo} wtf rig
[15:13] {Threei} take it as a gift
[15:13] {Les} I am not yet a cold blooded killer who can wait in ambush when momo is running
[15:13] {Threei} this nemo:
[15:13] {Threei} 15:12] {RonS} BP CFO: Expect All Partners In Leaking Well To Meet Legal Obligations
[15:13] {nemo} bounced at the pivot
[15:14] {nemo} oh
[15:14] {nemo} oil patch ain't gonna' be bookin' much profit this year...or at least the service companies
[15:17] {Les} well look at it this way
[15:17] {RonS} BP CFO: $20B Deal Gives Co More Constructive Relations With Obama 06/16 01:16 PM
[15:17] {RonS} lol
[15:17] {Les} deepwater drilling is the future
[15:17] {Les} lol
[15:18] {Threei} (US) US Senate approves amendment to extend homebuyer tax credits to Sept 30 (related XHB XLF )
[15:18] {dino} hush money
[15:18] {Les} and they are learning one heck of a lesson right now on how to do it properly
[15:18] {Threei} BP: - Assets to back the fund will be non-core, non-strategic assets, primarily upstream assets, sales estimated to raise $10B
[15:19] {Les} interesting JDAS repeated the same maneuver as earlier
[15:19] {Les} shake and pop
[15:20] {dino} needs .40
[15:20] {nemo} sonafabitch
[15:20] {Les} hal
[15:20] {dino} what?
[15:20] {nemo} jdas
[15:20] {nemo} RINSE!!!
[15:20] {dino} thought you hit it w/me
[15:21] {dino} ohh
[15:21] {nemo} the 22? no, then I saw it drop, and didn't see it rocket
[15:21] {nemo} oh...now you see
[15:21] {nemo} market coughing up a furball
[15:21] {dino} fast mkt drop
[15:21] {Threei} LVS
[15:22] {Threei} .60 - .65
[15:22] {dptl} have a good evening all
[15:22] {dino} cya dp
[15:23] {Threei} take care dp
[15:23] {Les} ciao
[15:24] {nemo} so, why does the market sell off on BP news
[15:24] {nemo} ?
[15:25] {Threei} I don't think it has anything to do with BP
[15:26] {Les} lvs .51 out .56
[15:27] {dino} markets are just random dancing nemo, give it any news and over reactions occur, imo
[15:28] {Threei} WFC CEO: The US housing market has reached a bottom, some markets are now bouncing off the bottom
[15:28] {nemo} and they just extended the tax credit...what BS
[15:29] {dino} that credit is just prolonging the house problem, let the markets get through it
[15:30] {dino} artifically holding up values
[15:30] {nemo} that, and suspending rule 157, and....banks not foreclosing
[15:30] {dino} interest rates are at historic lows, credit not needed
[15:30] {dino} yes nemo
[15:31] {nemo} not as dumb as I look :)
[15:31] {dino} "get out of the way" galt
[15:33] {Threei} (US) PIMCO's McCulley: US should not be imposing austerity upon itself; still sees need for stimulus in the economy - CNBC
[15:33] {Threei} - Feels it is too early to begin cutting spending; yet understands European countries' decisions due to 'forced austerity'
[15:34] {dino} yeah, when nobody will buy your bonds, you get forced austerity
[15:34] {Les} another great learning day. thanks for the calls. gonna stretch my legs. ciao
[15:34] {RonS} MARKET TALK: BP Rolls Over In White House Talks -Analyst 06/16 01:34 PM
[15:35] {dino} cya les
[15:35] {RonS} ya think...
[15:35] {dino} so how much did obama get from bp towards his re-election run
[15:38] {nemo} lvs two way play?
[15:38] {Threei} IMO, long
[15:38] {nemo} yeah
[15:38] {dino} out jdas .60, +.60
[15:38] {dino} back to flat finally
[15:39] {dino} rough morning 1for5
[15:39] {nemo} 1:1 on lvs
[15:39] {nemo} almost 1:2
[15:39] {nemo} maybe a lie
[15:39] {nemo} stp should have been .45
[15:40] {nemo} stop
[15:41] {Threei} you took it?
[15:41] {nemo} I did what you told me
[15:42] {RonS} BP bonds rally after dividend announcement 06/16 01:40 PM
[15:43] {nemo} stopped 2nd half
[15:43] {dino} fdx blood
[15:44] {dino} watch 75 strike tomorrow on it
[15:52] {dino} out anat all dayer, ..30, +.44
[15:52] {dino} gotta hop all, tee time in 30
[15:52] {RonS} cya dino
[15:52] {hawk} nice dino, cya
[15:53] {nemo} Yeah, stick a fork in me for the day too
[15:53] {RonS} cya nemo
[15:53] {hawk} ditto, nite all
[15:54] {RonS} ciao hawk
[15:55] {Threei} questionable day
[15:56] {Threei} not much to show
[15:56] {Threei} aimless wandering in the market
[15:58] {jfjf64} good night all
[15:58] {Threei} thank you all, have a good evening
[15:58] {Threei} see you tomorrow
