Wednesday, September 1, 2010

Sep 01 2010

Session Start: Wed Sep 01 00:07:28 2010

[07:58] {Threei}  7:03 AM
[07:58] {Threei}  Hearing chatter that a large fund making rotational move out of Gov't bonds into equities
[08:00] {Threei}  (GE) German Chancellor Merkel: Finland and Germany agree that budget consolidation is important for a strong euro
[08:00] {Threei}  - Changing EU treaties must remain an option for forcing budget consolidation.
[08:00] {Threei}  - EU rescue package ready if member states require it.
[08:00] {Threei}  - Wants swift and tough sanctions for breaching rules over debt.
[08:40] {jfjf64} mornin people
[08:43] {Threei}  jf :)
[08:48] {nemo} go back to bed dino
[08:48] {Threei}  lol
[08:49] {Threei}  nice greeting
[08:49] {nemo} or start drinking now
[08:49] {Threei}  but seeing this gap up, easy to see where it's coming from
[08:50] {dino} gm all
[08:50] {dino} lol nemo
[08:50] {Threei}  dino :)
[09:05] {RonS} gm all.
[09:05] {Threei}  Ron, welcome back
[09:05] {nemo} at least it's not Les
[09:05] {RonS} Thanks for the welcome...
[09:06] {Threei}  lol
[09:08] {dino} welcomebback too, ron
[09:09] {RonS} :)  ...wither Les?
[09:10] {nemo} therapy
[09:11] {RonS} funny...was hoping to see Fern, but glad the rest of you guys are still here.
[09:18] {strider} [09:09] {RonS} :)  ...wither Les?
[09:18] {strider} Need a good witch to do that.
[09:19] {strider} morning everyone.
[09:19] {Threei}  when Les is back he is going to slap you all silly - and I will just stand aside and applaud
[09:19] {Threei}  strider :)
[09:19] {RonS} hi strider
[09:19] {strider} :)
[09:20] {ese} morning
[09:20] {Threei}  ese :)
[09:25] {strider} How was volume yesterday?
[09:25] {Threei}  a bit better but still on a low side
[09:26] {ese} ahhhhh just noticed Ron is sloth....get to work man....make some money
[09:26] {Threei}  one of the best lately though
[09:26] {Threei}  so far intention is:
[09:26] {RonS} kidding...
[09:26] {Threei}  to watch RIMM for possible short
[09:26] {Threei}  to watch LVS for possible long
[09:27] {Threei}  to watch DGIT for I don't what yet
[09:27] {Threei}  and to watch the scanner for new names
[09:27] {ese} oh and by the way....welcome back
[09:28] {RonS} giii ripping the face off shorts.
[09:28] {Threei}  GIII
[09:28] {Threei}  Reports Q2 $0.15 v -$0.02e, R$189M v $162Me
[09:28] {Threei}  - Raises FY11 $2.60-2.70 v $2.69e, R$1.025B v $1.0Be (prior $2.20-2.30, Rev approx $950M on 7th Jun)
[09:28] {Threei}  - Q2 inventory: $223.5M v $172.4M y/y
[09:28] {Threei}  - This increase was stronger than expected and resulted primarily from increased wholesale sales of womens dresses, sportswear and suits, as well as from higher sales by the Companys Wilsons retail outlet store business.
[09:28] {Threei}  - This shift to profitability was driven by the increase in sales and improved margins in the Companys wholesale and retail businesses.
[09:29] {ese} i'll say
[09:29] {Threei}  was hatled earlier
[09:31] {Threei} Long Setup:  LVS  .75 break
[09:31] {Threei}  .65 stop
[09:32] {ese} in
[09:32] {Threei}  RIMM dropped with no real trigger
[09:32] {Threei}  idea was right, no chance for proper execution
[09:33] {ese} .77
[09:33] {Threei}  let's trail LVS to .68, hesitates too long at .80
[09:34] {Threei} Short Setup: RIMM  .60 break half lot
[09:34] {Threei}  over 1:1
[09:34] {Threei}  really fast
[09:34] {nemo} too
[09:35] {Threei}  out LVS
[09:38] {ese} out lvs .60 -.17 1/2 lot
[09:38] {Threei}  take me off ingore, ese...
[09:38] {Threei}  [09:33] {Threei} let's trail LVS to .68, hesitates too long at .80
[09:40] {ese} was only in to it for 1/2 ....was ok with letting it run a little
[09:40] {Threei} Short Setup: RIMM  .10 break
[09:40] {Threei}  if stays under .20 for scalpers, .25 for day traders
[09:42] {Threei}  DRYS Hearing strength being attributed to takeover chatter circulating (4.24, +0.21, 5.21%)
[09:44] {Threei}  NNBR?
[09:44] {Threei}  no news that I see
[09:49] {Threei}  DGIT...
[09:50] {Threei}  watching for pullback for long entry
[09:50] {Threei}  POT Sinochem has hired advisors for a Potash Corp bid - WSJ (148.18, +0.93, 0.63%)
[09:50] {dino} me too
[09:51] {dino} .15ish
[09:51] {dino} giii want short around 28.35
[09:52] {dino} bi-polar market, threw all away yesterday, now today scambling to buy, needs prozac
[09:52] {nemo} I've got dgit resistance .44
[09:54] {Threei}  repositioning before the labor day...
[09:54] {nemo} think dgit has an opposable thumb?
[09:54] {Threei}  manics take over the asylum on even days, depressives - on odd ones
[09:54] {Threei}  here comes DGIT pullback
[09:55] {Threei}  ideally, drop under .20, holding .10 and recropss
[09:55] {RonS} ISM in five...
[09:55] {nemo} watching intu, maybe break of .50 if it holds .45
[09:55] {Threei}  and July Construction Spending
[09:56] {Threei} Short Setup: RIMM  .40 break
[09:57] {Threei}  DGIT is there
[09:57] {nemo} I'm wussing before the numbers
[09:58] {Threei}  half lot and ridiculously tight stop above .45
[09:58] {Threei}  there
[09:59] {nemo} wuss worked
[09:59] {Threei}  yup
[10:00] {nemo} in intu .50
[10:00] {Threei}  *(US) AUG ISM MANUFACTURING: 56.3 V 52.7E; PRICES PAID: V 55.3E
[10:00] {jfjf64} wynn flyin
[10:00] {Threei}  *(US) JULY CONSTRUCTION SPENDING M/M: -1.0% V -0.5%E
[10:00] {Threei}  who went for DGIT, start partialing out
[10:00] {nemo} 1/2 out .68
[10:02] {nemo} 1/4 more .78
[10:02] {Threei}  very nice catch
[10:02] {nemo} :)
[10:02] {dino} out dgit +.18
[10:02] {dino} all is well w/world today
[10:03] {nemo} I double tapped it for a double lot too
[10:03] {jfjf64} nice
[10:03] {nemo} by accident
[10:03] {dino} lol gj
[10:03] {dino} "lucky" huh nemo
[10:03] {Threei}  your accidents are accident waiting to happen...
[10:03] {nemo} in my case extemely
[10:03] {nemo} I understand
[10:07] {Threei} Short Setup: LVS  .80 break
[10:07] {Threei}  if stays under .90
[10:07] {Threei}  or
[10:07] {Threei} Long Setup:  LVS  .90 break
[10:07] {Threei}  short side triggered
[10:10] {Threei}  stop to .85
[10:11] {nemo} spy could challenge 108.60 today but has already blown through r3
[10:11] {Threei}  stop to above b/e
[10:12] {Threei}  let's be stingy
[10:12] {Threei}  touched 1 cent from 1:1
[10:12] {nemo} big Macau gaming numbers overnight
[10:12] {nemo} up 40%
[10:12] {Threei}  1:1
[10:12] {Threei}  half out
[10:12] {Threei}  scalopers be happy
[10:12] {Threei}  scalpers too
[10:19] {Threei}  BRCD Hearing renewed takeover chatter circulating (5.13, +0.11, 2.19%)
[10:19] {Threei}  August US Vehicle Sales numbers expected throughout the day from major auto makers
[10:19] {Threei}  **consensus estimates y/y:
[10:19] {Threei}  - GM (10:45ET): -23%e (reminder: GM trimmed its brands to 4 in bankruptcy, so y/y is not entirely comparable)
[10:19] {Threei}  - Ford (12:00ET): -10%e
[10:19] {Threei}  - Chrysler: +7%e
[10:19] {Threei}  - Toyota: -28%e
[10:19] {Threei}  - Honda: -27%e
[10:19] {Threei}  - Nissan: -26%e
[10:19] {nemo} dgit support
[10:20] {Threei}  Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:20] {Threei}  **Consensus expectations:
[10:20] {Threei}  Crude: +1Me
[10:20] {Threei}  Gasoline: -250Ke
[10:20] {Threei}  Distillate: +1Me
[10:20] {Threei}  Utilization: 87.7%e
[10:24] {Threei}  HGSI Hearing takeover chatter circulating
[10:24] {Threei}  - Novartis rumored as a potential acquirer
[10:27] {RonS} arun breakout candidate?  19.00 break a good entry?
[10:28] {Threei}  worth a try
[10:28] {Threei}  daily's nice too
[10:30] {dino} not my type market, going to mow the lawn, back around 1:00
[10:30] {nemo} told ya'
[10:30] {Threei}  *DOE CRUDE: +3.4M V +1ME; GASOLINE: -210K V -250KE
[10:30] {dino} lol nemo, later
[10:39] {jfjf64} im  outta here too
[10:40] {Threei}  suuure.. leave you all, I'll be fighting all alone
[10:40] {nemo} you got me Vad
[10:40] {nemo} hehehehehe
[10:40] {jfjf64} hmmmm
[10:42] {jfjf64} fcx
[10:44] {ese} arun.......ouuuuuuuuu i like these because they resemble the charts in vads book perfectly
[10:44] {ese} L .03
[10:45] {Threei}  nice
[10:46] {ese} 2k worth of nice so far
[10:46] {ese} 52 week high...may go forever
[10:47] {ese} out 1/2 .21 +.17
[10:48] {jfjf64} run
[10:48] {RonS} out .23 +.21
[10:48] {ese} well done boys
[10:48] {nemo} fcx C&H?
[10:49] {ese} stop on balance to .10
[10:52] {ese} stop to .17
[10:52] {jfjf64} watchin  also  nemo
[10:54] {jfjf64} yeah haa
[10:54] {ese} stop to .25
[10:54] {jfjf64} get it  nemo
[10:57] {nemo} damn....had to step away
[10:57] {Threei}  nice rades guys
[10:57] {ese} stopped arun .24 on balance +.21
[10:57] {nemo} good though
[10:57] {Threei}  trades too
[10:57] {nemo} things should slowly move to spy .60 or so
[11:04] {jfjf64} good  thing  hung  around
[11:05] {jfjf64} lol
[11:05] {jfjf64} im  outa here
[11:06] {strider} .
[11:07] {nemo} dude
[11:07] {Threei}  lol
[11:07] {strider} getting strange signals from mirc
[11:07] {nemo} bidu  .66 offer
[11:08] {nemo} gone fake
[11:21] {i2r} what a day, everything on my stock watch is green today and not just by a few cents
[11:21] {i2r} are students trading instead of studying?
[11:22] {nemo} no PPT at work
[11:23] {i2r} PPT?
[11:24] {nemo} Plunge Protection Team
[11:26] {ese} lol
[11:27] {nemo} near spy 1040 yesterday...BANG!
[11:31] {RonS} ma hearing the aapl dog and pony show starts in 30 minutes...
[11:31] {RonS} still can't type...
[11:40] {RonS} dino play setting up in dgit?
[11:41] {nemo} got capitualtion volume
[11:43] {nemo} lotta white sales on dgit
[11:52] {i2r} white sales? meaning?
[11:53] {Threei}  prints are colored on T&S
[11:53] {Threei}  green for prints at the offer price,
[11:53] {Threei}  red - at the bid,
[11:53] {Threei}  white for inbetweeners
[11:59] {Threei}
[11:59] {Threei}  I'll blab for about 45 min on dsay 1
[11:59] {nemo} and then drink for about 47 hours and 15 minutes
[12:00] {Threei}  no... not good time allotment for that, my 45 min ar at the end of the day 1
[12:01] {i2r} I thought it meant some special term, like PPT :)
[12:08] {ese} L arun .13
[12:10] {Threei}  hmmm
[12:10] {Threei}  right pattern, wrong time
[12:11] {ese} ya.....
[12:11] {ese} 1/2 only so far.......
[12:21] {i2r} any idea why on laser i see different bid and ask than on another platform, like TD?
[12:21] {Threei}  any comparison of accuracy between the two will make you seriously wonder about TD...
[12:21] {i2r} mind you i'm using the demo account, but since it's realtime, I figure it should be as real as it gets
[12:22] {Threei}  let's compare?
[12:22] {i2r} well, i'm doubting laser
[12:22] {Threei}  name stock and bid/offer
[12:22] {i2r} PCLN
[12:22] {Threei}  302.8
[12:22] {i2r} laser 302.67, while TD 302.8
[12:22] {i2r} unless I'm looking in the wrong spot :)
[12:22] {Threei}  303.06
[12:23] {i2r} i don't see 302.8 anywhere on laser though
[12:23] {Threei}  302.80 INET bid
[12:23] {i2r} where would I see it?
[12:23] {Threei}  you don't have some of the feeds activated then
[12:23] {i2r} oh
[12:23] {i2r} 302.85
[12:23] {Threei}  .85 now yes
[12:23] {i2r} i'm just a dufus
[12:23] {i2r} nevermind
[12:23] {Threei}  if you say so :)
[12:24] {Threei}  never argue with people who want to beat themselves up - they may beat you up too while at it
[12:24] {i2r} lol
[12:24] {i2r} just seemed odd, because what seems to be the bid amount was different from TD
[12:24] {i2r} I do realize that it changes very fast
[12:25] {i2r} but had to be sure
[12:25] {Threei}  just out of curiosity... where did you try to look for it? :)
[12:25] {i2r} i looked at the numbers  above l2 quotes
[12:25] {Threei}  ahhh
[12:26] {i2r} and it's right above it as I understand
[12:26] {i2r} and then it had other details, like last, prev close etc
[12:26] {Threei}  yes
[12:27] {i2r} it just doesn't say what it is so I had to be sure i'm looking in the right area and those numbers actually didn't match TD for awhile or would only match at times
[12:27] {i2r} so I was not sure
[12:27] {i2r} all good now
[12:27] {i2r} all i need is the trading account now and hope I won't have to go back to TD and issues get resolved with Bear
[12:37] {Threei}  i2r, look dcc
[13:04] {Threei}  oh boy
[13:04] {nemo} what?
[13:04] {Threei}  look at this and tell me, do these guys learn anything, ever?
[13:04] {Threei}  US) White House Econ Advisor Romer: Economy encountering a large shortfall in demand; US should take action to increase demand and lower unemployment levels
[13:04] {Threei}  - Calls for increased US spending in the short term with lower taxes
[13:26] {Threei}  (US) Fed's Plosser: Fed should not undertake additional easing in efforts to lower unemployment; more QE can be considereed if deflation risks increase (related TLT SHY IEF EUR/USD USD/JPY GBP/USD )
[13:39] {RonS} ovti popping off aapl show, intros...
[13:43] {Threei}  OVTI Ticking higher on mention of front-facing camera in new Apple iPod Touch product (21.72, +1.27, 6.21%)
[13:43] {Threei}  AAPL Launches iTunes 10, featuring new Ping social network component (250.53, +7.43, 3.06%)
[13:43] {Threei}  SYNA Hearing weakness attributed to Apple removing clickwheel from iPod product line (25.54, -0.83, -3.15%)
[13:44] {Threei}  TOAST weakens on news AAPL is not committing to the new line of toasters with social network capabilities
[13:44] {RonS} toast has been burned...ny post headline
[13:45] {i2r} toaster? was that one a joke?
[13:45] {RonS} is i2r Les?
[13:46] {Threei}  let me think of worthy answer
[13:49] {Threei}  here it is:
[13:49] {Threei}  COFF benefits from AAPL announcement about iCof, coffee-brewing atachment to iPhone that collects coffee-brewing advice from iRecipes and plays iTunes while owner works on iPad sitting in iLoo
[13:49] {RonS} lol
[13:49] {Threei}  did I cover all iCrap that goes on in the iWorld? :)
[13:51] {Threei}  look:
[13:51] {Threei}  With Ping, iTunes users adopt a social network identity and can follow other users or be followed, can be a public or private as desired. Lets users post their thoughts and opinions on songs, albums and musicians
[13:52] {RonS} why not call it apeing?
[13:52] {Threei}  yup... I am so eager to learn what someone in New Zealand thinks of the song by mongolian shaman
[13:53] {RonS} ovti inching into momo...
[13:53] {Threei}  AAPL Releases new Apple TV (250.90, +7.80, 3.21%) (related GOOG NFLX YHOO )
[13:53] {RonS} Ping will only allow 10 "friends", fwiw...
[13:54] {Threei}  uh oh
[13:54] {Threei}  how are we going to cope with so few friends?
[13:54] {Threei}  back to Mugmagazine for me
[13:54] {Threei}  or was it facebook...
[13:56] {RonS} my wife:  "I don't WANT people to know what I am doing."
[13:57] {Threei}  exactly
[13:57] {RonS} first came no shame, then no privacy...
[13:58] {Threei}  reminds me my dialog with young salesperson who couldn't believe I have very limited plan on my cellphonme
[13:58] {Threei}  "but how do you stay connected??"
[13:58] {Threei}  I say "I don't..."
[13:58] {Threei}  you should have seen his face, lol
[13:59] {Threei}  guy justcouldn't believe someone wouldn't want to "stay connected" all the time
[13:59] {RonS} and the young think: "they don't get it".
[13:59] {Threei}  I think they just go numb... they can't comprehend the concept
[14:00] {RonS} was it H.L. Mencken who said: "Mendacity is the trap of samll minds."?
[14:01] {RonS} small
[14:02] {Threei}  IMF Staff: Sovereign default risks have been significantly overestimated; Greece and Japan among countries with lease manueverability on fiscal situation
[14:02] {Threei}  - Notes that fiscal consolidation should be undertaken, yet not abruptly
[14:02] {Threei}  least I think, not lease
[14:04] {RonS} wow, look at the price action on nflx...aaple TV is small...people trying to figurte if it can sell
[14:05] {Threei}  well, NFLX gets a lot of warnings latelt
[14:08] {RonS} aapl tv $ will sell...
[14:08] {RonS} nflx heating up...
[14:09] {RonS} tv shipping in a month...
[14:09] {RonS} jesus the tv is only $99...
[14:11] {RonS} ...presentation of aapl is winding up...aapl inching down...
[14:16] {i2r} lol, i just read all the comments on AAPL, funny!
[14:16] {i2r} and no, i2r is not Les
[14:16] {i2r} Les is Les
[14:16] {RonS} and I thought Les is more...
[14:16] {nemo} bidu should bounce by .40
[14:16] {RonS} why?
[14:16] {i2r} just like undersold gets undersolder
[14:16] {nemo} vwap and support coincide there
[14:18] {nemo} looks like .44 was it
[14:18] {nemo} I'm not as dumb as I look I2r
[14:18] {nemo} then again....(anybody want to fill this in?)
[14:23] {nemo} so...dino blew us off
[14:24] {nemo} dcc Ron
[14:26] {i2r} I can't even see you nemo, who knows what you look like
[14:26] {nemo} I've got a face for radio
[14:26] {i2r} i see
[14:26] {Threei}  i2r, thank god for small favors
[14:26] {nemo} pot calling kettle black?
[14:27] {Threei}  andf, since you can't see me either - for bog ones also
[14:27] {Threei}  big
[14:28] {i2r} it's like that nakid trader book and audio, we never know how people even dress or what they do while trading lol
[14:28] {Threei}  bliss
[14:29] {nemo} well...I've got monitor cameras
[14:39] {RonS} Caterpillar (CAT:$67.9619,$2.8019,4.30%) to expand in Brazil, shares rise
[14:40] {Threei}  morning news
[14:40] {Threei}  nonsense explanation
[14:40] {Threei}  would have dropped merrily if market did, Brasil or no Brasil
[14:40] {RonS} i guess, didn't see it...
[14:41] {Threei}  09:01:15
[14:41] {Threei}  Caterpillar Inc Expands in Brazil, to acquire factory in Parana and build out facility in Piracicaba
[14:41] {Threei}  - Building on its 50-plus-year history in Brazil and capitalizing on the expected growth in Latin America, Caterpillar Inc. (NYSE: CAT) is announcing today the expansion of its manufacturing operations in Brazil. The company has acquired an existing industrial facility in Brazil, located in Campo Largo, Parana State
[14:43] {RonS} seems tobeg the question...
[14:43] {RonS} will a cat built in parana have a bigger bite?
[14:44] {Threei}  rofl
[14:44] {RonS} clf at an interesting spot on the dailies...
[14:44] {Threei}  Ron, where have you been... room lacked you
[14:44] {Threei}  I mean between humorless grim creatures like me and nemo...
[14:45] {RonS} ya well, i was suffering from a lack of audience...since my family fails to appreciate my type of humor...
[14:46] {RonS} :)
[14:47] {dino} did i miss much?
[14:47] {nemo} no
[14:47] {dino} funny, it was +220 when i left
[14:48] {nemo} strange sense of humor
[14:48] {dino} indeed
[14:52] {dino} hmmm. aug 23rd gaps filled on dji, ndx, s/p.
[15:12] {Threei}  gotta get smacked tomorrow I assume
[15:13] {dino} yeah, give most of it back
[15:13] {dino} thats the pattern
[15:19] {nemo} or we'll have a consolidation, that's what I'd bet on
[15:19] {RonS} too funny not to share: to share:
[15:20] {nemo} page not found
[15:21] {RonS}
[15:22] {i2r} lol, that was funny, RonS
[15:23] {i2r} yeah, remove ot
[15:23] {RonS} like its 1999...right 3i?
[15:24] {nemo} wow, wish I'd been paying attention to that
[15:28] {RonS} hey dino, rnow followed crm until April...pulpy little stock, right up your alley. same biz...
[15:29] {dino} "pulpy" gotta luv it
[15:30] {RonS} your phrase that stuck w/ me...
[15:30] {dino} i'm seeing lots of gaps below from todays action
[15:30] {RonS} a whole lot...
[15:31] {dino} they usually fill, time is the issue, lately within two weeks
[15:31] {dino} gut call, tomorrow pop and drop
[15:32] {nemo} two way play cree?
[15:34] {RonS} that ism report also gapped a bunch of issues on the intrady...
[15:34] {RonS} seems to me...cree = indian play = chopfest...
[15:35] {dino} and if you think this week has been thin, just wait tomorrow and friday
[15:37] {Threei}  still dino, volume picked up a little
[15:37] {RonS} classic:
[15:39] {dino} holiday weekend coming tho
[15:40] {Threei}  yeah... and then we finally start returning to normal patterns gradually
[15:40] {dino} hopefully
[15:40] {Threei}  "whatever your normal is"
[15:40] {dino} lool
[15:40] {dino} lol
[15:41] {dino} thx all, gotta hop, tee time in 40
[15:41] {Threei}  take care dino
[15:46] {Threei}  stronf close... unusual for this kind of days
[15:46] {Threei}  strong
[15:54] {Threei}  ok, guys, two more days
[15:54] {Threei}  be strong
[15:54] {Threei}  have a good evening, see you tomorrow