Wednesday, August 25, 2010

Aug 25 2010

There is no confident step in the market still but things gradually improve - more winning trades, and even size of wins goes beyond scalps. Still boring but first signs of life returning in a week or two are there.

Session Time: Wed Aug 25 00:00:00 2010
[08:03] {magoo} morning
[08:04] {strider} :)
[08:04] {magoo} :)
[08:14] {magoo} question today is whether markets have priced in a BAD homes number today (assuming its bad here, how can it not be)
[08:29] {Threei}  (US) Boone Pickens: Hard to recommend oil and gas stocks with energy prices at this level - CNBC (related USO UNG )
[08:29] {Threei}  wow... that's a shocker
[08:30] {Threei}  *(US) JULY DURABLE GOODS ORDERS: 0.3% V 3.0%E; DURABLES EX TRANSPORTATION: -3.8% V 0.5%E
[08:34] {magoo} no good morning vad? lol
[08:35] {Threei}  is irt really?
[08:36] {Threei}  or do you want me to be a hypocrite and just keep ib line with that useless thing, called social etiquette?
[08:37] {Threei}  ok, that was my deepest for the day
[08:37] {Threei}  back to normal shallow self
[08:37] {Threei}  good morning!
[08:38] {Threei}  oh geat, now he won't answer me
06[08:38] * Threei slaps magoo around a bit with a large trout
[08:39] {dino} gm all
[08:39] {Threei}  dino :)
[08:39] {strider} morning everyone, dino, vad.
[08:39] {Threei}  strider :)
[08:39] {dino} :D
[08:47] {dino} veco
06[08:53] * magoo slaps Threei around a bit with a large trout
[08:53] {magoo} makin the rounds
[08:55] {Threei}  haven;t seen man making rounds and swinging trout in his hand while at it before
[08:58] {strider} Be careful.  He's probably taking names, too.
[08:59] {lilyd} good morning, I think...
[08:59] {Threei}  lily :)
[08:59] {Threei}  see, that's reasonable approach
[08:59] {Threei}  unlike magoo who just demanded that I admit it was a good morning, no matter what
[09:00] {lilyd} well, we can at least agree that it's "morning"
[09:01] {strider} wait till Les gets here.  He'll disagree.
[09:01] {magoo} GENZ nuts vad, bottoms 62.60 area, blasts off
[09:01] {nemo} well, for him it is afternoon
[09:01] {dino} magoo, gremlins still, did not fix it
[09:02] {nemo} what's happening dino
[09:02] {nemo} ?
[09:02] {magoo} really surprised dino...thought u had much better odds than me of success
[09:02] {Threei}  08:58:59
[09:02] {Threei}  Genzyme Corp Sanofi reportedly considering other options assuming deal falls through, after refusal to raise bid price for Genzyme
[09:04] {magoo} ah
[09:04] {magoo} ty vad
[09:07] {dino} router problems nemo'
[09:07] {nemo} did he switch it out?
[09:10] {dino} going direct, as w/yesterday. wireless for im
[09:11] {nemo} no problem direct to modem?
[09:12] {dino} no
[09:12] {nemo} fcx below 66 goes to about 65.13
[09:13] {Threei}  RAVN Reports Q2 $0.46 v $0.34 y/y, R$73.2M v $56.6M y/y
[09:23] {Threei}  (US) July Building Permits revised lower to -4.1% from -3.1% initial reading
[09:25] {dino} and our great leader says weekly, "moving in right direction" idiot
[09:25] {Threei}  lol
[09:28] {ese} morning
[09:28] {nemo} due
[09:28] {nemo} dude
[09:28] {ese} lol dude
[09:28] {Threei}  ese :)
[09:28] {nemo} bad "d" key
[09:30] {ese} been a slack 2 weeks in this market....I am due
[09:30] {jfjf64} mornin
[09:30] {Threei}  jf :)
[09:32] {Threei} Short Setup: BP  .35 break
[09:33] {Threei}  new high stop
[09:34] {Threei}  nope
[09:37] {dino} sm l itri .00
[09:37] {magoo} FCX lows
[09:39] {jfjf64} cat  .10  break
[09:39] {jfjf64} nope
[09:40] {dino} sm l pru .91
[09:41] {magoo} LVS
[09:41] {Threei}  (US) Preview: June and Q2 House Price Index due out at 10:00ET
[09:41] {Threei}  (US) Preview: July New home Sales due out at 10:00ET
[09:44] {Threei} Short Setup: LVS  .50 break
[09:45] {dino} pru stopped -.31
[09:46] {Threei}  cover half LVS here or take scalp, presonal choice
[09:46] {jfjf64} ty
[09:48] {magoo} out ty
[09:50] {magoo} GMCR news vad?
[09:51] {Threei}  not that I see
[09:51] {magoo} ty
[09:52] {magoo} spy testing lower support here
[09:53] {magoo} numbers at 10 a.m
[09:53] {nemo} they ain't gonna be good
[09:53] {Threei} Short Setup: RIMM  .80 break
[09:53] {Threei}  if stays under .90
[09:54] {Threei}  no go
[09:54] {Threei}  cover the rest of LVS who partialled
[09:56] {Threei}  rinse RIMM
[09:56] {magoo} ty rimm
[09:57] {magoo} out .56
[09:57] {magoo} i confess, didnt stop it
[09:57] {Threei}  out too soon LVS
[09:57] {gregns} wow , out .68 me too
[09:57] {nemo} clear the decks for the numbers
[09:57] {magoo} lets stay flat into number
[09:58] {magoo} evryone knows number bad
[09:58] {nemo} yep
[09:58] {magoo} might rally off it
[09:58] {nemo} yep
[09:58] {nemo} might not
[09:58] {magoo} priced in
06[09:58] * magoo slaps nemo around a bit with a large trout
[09:58] {magoo} been awhile lol
[09:58] {jfjf64} yup
[09:58] {nemo} nothing like a magoo bitch slap
[09:59] {magoo} cramer pumped LVS last nite
[09:59] {jfjf64} got to get bk to basic
[10:00] {Threei}  *(US) JULY NEW HOME SALES: 276K V 330KE (% M/M)
[10:00] {Threei}  - Prior revised xxx from 330K to 315K
[10:01] {Threei}  *(US) HOUSE PRICE INDEX (JUNE M/M): -0.3% V 0.1%E; (Q/Q): 0.9% V -0.4%E
[10:03] {dino} pru sm l .75
[10:04] {Threei} Long Setup:  CAT  .60 break
[10:04] {Threei}  half lot
[10:05] {Threei}  stop under .50
[10:05] {magoo} in
[10:06] {Threei}  support for day traders is .45
[10:07] {Threei}  and it has a look of 'I can do more than a scalp"
[10:07] {Threei}  scalpers got 1:1
[10:07] {jfjf64} ty
[10:08] {magoo} thinking .80 area cat
[10:09] {Threei}  daytraders got 1:1
[10:09] {magoo} out .83 ty vad
[10:09] {gregns} ty
[10:10] {Threei}  welcome guys
[10:10] {Threei}  nice to see some winners for a change
[10:11] {Threei}  with couple more active summers than usually I;'ve forgotten why I hate August so much
[10:11] {Threei}  this one sure reminded me
[10:13] {dino} me too
[10:13] {magoo} ditto
[10:17] {jfjf64} next august we all go to palm beach
[10:20] {dino} deal
[10:20] {Threei} Long Setup:  X  .80 break half lot
[10:21] {Threei}  stop under .70
[10:22] {Threei}  no go
[10:26] {ese} L adsk 1/2 .51
[10:28] {ese} stop .30
[10:30] {Threei}  *DOE CRUDE: +4.1M V +400KE; GASOLINE: +2.27M V -300KE; DISTILLATE: +1.7M V +1ME UTILIZATION: % V 89.5%E
[10:35] {jfjf64} cnx bounce
[10:35] {magoo} SOMX vad, strong
[10:36] {Threei}  it had news before open
[10:37] {Threei}  Somaxon Pharmaceuticals Signs Silenor co-promotion agreement with Procter & Gamble
[10:37] {Threei}  - Under the terms of the agreement, Somaxon and Procter & Gamble will co-promote Silenor with a combined 215 sales representatives in the U.S. market. Procter & Gambles professional health care sales force will promote Silenor to targeted primary care and other high-prescribing physicians. Somaxons focus will be on specialists and other top-decile physicians who treat insomnia. In addition, Procter & Gamble will promote Silenor to targeted pharmacies and will provide supplemental managed care support services for Silenor.
[10:37] {Threei}  - Somaxon will record all sales of Silenor and will pay Procter & Gamble a combination of fixed fees and a royalty based on U.S. net sales
[10:44] {ese} if adsk can break the resistance it has at .51 it bee jammin man....should go for awhile
[10:45] {ese} check out the 60min chrt......tells the whole truth and nothing but the truth
[10:46] {gregns} lol
[10:46] {ese} spy has to giddy up over 105 though
[10:47] {magoo} 105.38 to be exact
[10:47] {ese} tks
[10:48] {ese}'s worth the 100 bucks to find out
[10:49] {ese} on the 60 min chrt adsk has butted up against .50 about 6 times........ya just know it wants to do this
[10:51] {ese} that coupled with a bottoming tail/doji from yesterday and??????? nemos' your uncle......sorry i mean bobs' your uncle
[10:51] {dino} lol
[10:53] {ese} well it's kinda lookin like i know sh*&^t
[10:54] {ese} annnnnnnnnd.........ouuuuuuuuu.....almost stopped
[10:55] {ese} ouuuuuuuuuuuuu
[10:56] {ese} don't ya just love the ability to do running commentary
[10:56] {gregns} yup
[10:58] {ese} by the might ba verkin lads
[10:59] {ese} L adsk avg .40
[11:01] {dino} ndx open gap fill
[11:05] {ese} sucre bleu!!!!!!!!  what is the meaning of this?   adsk you sloth
[11:08] {ese} daaaaaaaaaaa
[11:11] {ese} stopped adsk......
[11:12] {ese} .28 -.12
[11:13] {ese} ohhhhh well
[11:13] {dino} thx for heads up vad, out cat .20, +.60
[11:13] {Threei}  :)
[11:13] {ese} look at the blighter..........ran my stop and is now heading up
[11:17] {gregns} breakdown on mos ?
[11:18] {Threei}  probably
[11:18] {Threei}  chart is right
[11:19] {Threei}  markjet cooperation ios not there
[11:19] {dino} itri to .04
[11:19] {Threei}  but doesn;'t look like it needs it
[11:19] {dino} out itri .03 slip, +1.03
[11:20] {gregns} ty
[11:20] {Threei}  nice one dino
[11:20] {dino} thx
[11:22] {Threei}  bautiful breakdown MOS
[11:22] {Threei}  wtg greg, great spot
[11:22] {gregns} thks
[11:23] {jfjf64} dino ya look into arca
[11:24] {dino} forgot, let me try next one
[11:25] {ese} nice one itri dino
[11:26] {ese} L adsk .49
[11:27] {dino} ty es
[11:27] {dino} sm l ctrp .16
[11:28] {dino} out pru .15, +.40
[11:36] {Threei}  MOS is true thing of beauty
[11:37] {Threei}  next one greg calls I take without even looking at the chart
[11:38] {gregns} i dont know about that
[11:38] {Threei}  oh come on, should I get a chance to blame someone for once? :)
[11:38] {gregns} lol
[11:51] {shorty} MOS Threei?
[11:52] {Threei}  easy money is made on it
[11:52] {shorty} Wish I could trade....
[11:52] {Threei}  can't tell what's next
[11:52] {shorty} Maybe 20 cents or more
[11:58] {dino} chk l .82, stop lod
[12:08] {magoo} .
[12:14] {dino}  /
[12:14] {Threei}  \|/
[12:15] {dino} bazingga
[12:18] {Threei}  AONE Ticking higher on chatter of possible large smart grid contract award in NY (6.62, +0.08, 1.22%)
[12:18] {Threei}  (US) Pentagon CFO: Obama Administration is looking for about 1% real growth in defense spending in the next budget (related NOC GD UTX LMT )
[12:18] {Threei}  because we spend not enough, right?
[12:49] {magoo} we in anything?
[12:49] {dino} market stalled
[12:51] {dino} magoo, ctrp i'm in at .16, held well
[12:57] {magoo} PAR news
[12:57] {Threei}  PAR Dell reportedly planning to challenge HPQ's bid a more competitive offer - unconfirmed report
[12:58] {Threei}  Reminder: NY Post yesterday reportedly Dell was planning to propose an increased offer for 3Par.
[12:58] {Threei}  - Note: HPQ on 8/23 offered $24/shr in cash vs Dell's prior $18/shr in cash bid
[13:05] {magoo} any read X here vad
[13:06] {magoo} like it long
[13:06] {Threei}  not at all
[13:06] {Threei}  jellyfish
[13:06] {Threei}  shapeless, useless, translucent, drifting and generally disgusting
[13:06] {nemo} don't hold back vad...tell us your true feelings
[13:06] {Threei}  hehe
[13:10] {jfjf64} sell mortma  sell
[13:11] {strider} .
[13:11] {Threei}  mortma?
[13:12] {magoo} any read RIG here vad?
[13:13] {Threei}  up
[13:14] {Threei}  15 cents pullback would make me very interested
[13:14] {jfjf64} what was eddie murphy movie
[13:14] {Threei}  ahhh
[13:14] {jfjf64} trading places
[13:14] {Threei}  trading places
[13:14] {jfjf64} ahh
[13:14] {Threei}  mortimer
[13:15] {jfjf64} y
[13:15] {jfjf64} i might change my name from jfjf
[13:15] {jfjf64} to
[13:16] {jfjf64} mortimer
[13:16] {jfjf64} any votes
[13:16] {Threei}  sure, but you have to promise that every end of day you will scream "trun those machines back on!!"
[13:17] {magoo} i like it
[13:17] {jfjf64} sell mortimer
[13:17] {jfjf64} sell
[13:18] {Threei}
[13:18] {jfjf64} lol
[13:18] {jfjf64} classic
[13:20] {Threei}  Randolph Duke: Money isn't everything, Mortimer.
[13:20] {Threei}  Mortimer Duke: Oh, grow up.
[13:20] {Threei}  Randolph Duke: Mother always said you were greedy.
[13:20] {Threei}  Mortimer Duke: She meant it as a compliment.
[13:21] {jfjf64} lol
[13:21] {Threei}  meanwhile, please notice:
[13:21] {jfjf64} i tk it one of ya favs
[13:22] {Threei}  RIG pulled back 13 cents and jumped like anthelope injected with turpentine
[13:22] {Threei}  [13:14] {Threei} 15 cents pullback would make me very interested
[13:26] {jfjf64} c/h  lvs??.77 break down??
[13:26] {Threei}  50/50
[13:27] {Threei}  can remain in the range just as well
[13:27] {Threei}  fake breakout, return to the range... gake breakout other way
[13:27] {jfjf64} selll mortimar
[13:27] {Threei}  fake
[13:27] {jfjf64} lol
[13:27] {jfjf64} yup
[13:29] {nemo} tna serious support at .55
[13:29] {jfjf64} sell
[13:34] {Threei}  I received final notrice that I need to conirm somehting to be inlcluded in professional entrepeneurs award ort something,
[13:35] {Threei}  and if I recall correctly, I received this final notice for the fourth time
[13:35] {Threei}  I guess couple times more, and it will be THE final notice
[13:35] {dino} of couse, like the who's who, you pay a big fee they put you in book
[13:35] {Threei}  yup
[13:44] {Threei}  NEW YORK ( -- Google announced Wednesday that it will allow users to make phone calls over the Internet through its Gmail service, encroaching on territory that has thus far been dominated by Skype.
[13:45] {Threei}  Google (GOOG, Fortune 500) said calls to the U.S. and Canada will be free for at least the rest of 2010. The company said it will roll out the service to its U.S. users over the next several days.
[13:45] {Threei}  Calls to other countries from the U.S. will be billed at Skype-like rates: Calls to the U.K., France, Germany, China, Japan, for instance, will be offered for 2 cents per minute.
[13:54] {dino} zzzzzzzzzz
[13:55] {magoo} share size u took ctrp dino?
[13:56] {magoo} hes sleeping
[14:00] {dino} s/p fills open gapout chk, +.02
[14:01] {dino} no, didn't yet
[14:05] {magoo} read CAT here vad?
[14:05] {dino} magoo you get ctrp?
[14:06] {Threei}  up
[14:06] {dino} s/p filled
[14:06] {magoo} nah, but was wanting know your size
[14:06] {Threei}  pullback to under .20, I am interested
[14:06] {dino} sm, 300
[14:08] {magoo} u watchin LVS vad?
[14:09] {magoo} rimm smoked here
[14:09] {Threei}  LVS, no
[14:09] {Threei}  way too narrow
[14:11] {magoo} if mkts go green and rally up, candidates??
[14:12] {dino} everything
[14:12] {Threei}  CAT
[14:12] {Threei}  RIG
[14:13] {nemo} mdt
[14:13] {magoo} FCX?
[14:20] {Threei}  probably... less enthused about it
[14:20] {magoo} wow..u thought it over for 6 minutes
[14:20] {jfjf64} lol
[14:20] {nemo} it took him five to come out of the coma
[14:20] {jfjf64} mortmer  comon
[14:21] {Threei}  who said I came out of it?
[14:21] {dino} out ctrp .76, +.60
[14:21] {jfjf64} nice
[14:23] {dino} ty
[14:33] {jfjf64} greeen
[14:35] {Threei}  CAT
[14:36] {Threei}  breaks high
[14:37] {dino} bws l .93
[14:38] {Threei}  nice spike CAT
[14:43] {magoo} getting dropped dino?
[14:43] {dino} yes
[14:49] {dino} how did i miss whr
[14:50] {nemo} same way I missed tna
[14:50] {nemo} well, not really...
[14:51] {dino} bws to flat, stuck
[14:52] {dino} out
[15:01] {magoo} out cat .97 ty vads
[15:01] {Threei}  :)
[15:01] {magoo} noew if only RIG would rip
[15:02] {nemo} mdt
[15:02] {nemo} sorry
[15:02] {nemo} although,  C&H
[15:13] {nemo} like rimm on break of .70 vad, w market of course
[15:15] {Threei}  i guess
[15:15] {nemo} you say that with such conviction
[15:15] {Threei}  hard to tell, RIMM is somewhat off today
[15:18] {dino} call
[15:19] {dino} in .25 sm
[15:19] {Threei}  US) Nouriel Roubini: US Q3 GDP to be less than 1%, likely closer to 0% than 1%
[15:19] {Threei}  - Sees risk of double dip recession around 40% at this point.
[15:20] {Threei}  ***Reminder: On 08/14 Roubini saw a 30% chance that the US economy would contract by end of 2010
[15:20] {Threei}  so, two weeks l;ater he thinks it's 40
[15:20] {Threei}  mid Sept it will be 50
[15:23] {Threei}  CAT is back into bounce territory
[15:23] {dino} guy knows how to throw a party i read
[15:29] {dino} out call .85, +.60
[15:30] {dino} magoo, thinking a few drinks tonight
[15:30] {Threei}  nice
[15:31] {dino} ty
[15:31] {magoo} no golf?
[15:32] {dino} not sure, but doubtful
[15:32] {dino} i'll stop by hgc around 4:30, can call you after that
[15:32] {magoo} u been trading really well
[15:33] {dino} calm here, strange
[15:34] {ese} .
[15:34] {Threei}  anyone caught CAT?
[15:34] {magoo} me
[15:34] {magoo} .54
[15:34] {Threei}  nice
[15:35] {magoo} .56 actually, just checked
[15:35] {magoo} out here .89
[15:35] {magoo} ty
[15:37] {dino} in any case, thx
[15:37] {dino} gj
[15:37] {dino} wtg
[15:48] {dino} 10174 dji, 1808 ndx, 1069 s/p gaps from monday
[15:59] {shorty} good night all
[16:00] {Threei}  thank you all
[16:00] {Threei}  have a good evening
[16:00] {Threei}  see you tomorrow