Friday, November 12, 2010

Nov 12 2010

Boring day with very few trades. Could just as well skip it. 

Session Time: Fri Nov 12 00:00:00 2010
[08:22] {davd} gm all.  ;)
[08:28] {Threei}  yawn...
[08:28] {Threei}  hi davd
[08:28] {nemo} mornin
[08:28] {Threei}  nemo
[08:28] {Threei}  Human Genome Sciences Inc FDA Staff: Questions robustness of Benlysta efficacy findings,
[08:28] {Threei}  - Various analyses of the data raise questions about the robustness of the efficacy findings that warrant discussion at the AAC meeting.
[08:29] {Threei}  HGSI
[08:31] {RonS} gm all..."robustness" sounds like a truly bastard word
[08:31] {Threei}  lol
[08:32] {Threei}  robustradness
[08:32] {RonS} oh boy
[08:33] {RonS} proves things can always be worse
[08:33] {RonS} hgsi down $1 pre
[08:34] {RonS} fnsr news?
[08:35] {Threei}  FNSR Reports prelim Q2 $0.41-0.43 v $0.34e, $240-241M v $224Me ($215-230M prior)
[08:35] {Threei}  - Guides Q3 R$24-262M v $232Me
[08:37] {RonS} fnsr 15.8 mil sh short...the short site started charging for % of float so don't have...
[08:37] {Threei}  this data should be available somewhwre on NASDAQ site
[08:37] {Threei}  and if not, ell, float is known
[08:38] {Threei}  so it's just one calculator operation
[08:38] {Threei}  they charge for lack of education and laziness... kudos to them
[08:38] {RonS} too lazy here...using days to cover off ave vol...3 in this instance
[08:39] {Threei}  (US) US Fed's Tarullo: To soon to issue guidelines on increasing dividends; guidance to go in effect Q1 2011
[08:39] {Threei}  - Guidelines on dividends to be conservative.
[08:39] {Threei}  - Banks will be required to show that divident plans can meet Basel, Dodd-Frank requirements.
[08:39] {Threei}  - Modification better than foreclosure for the majority of mortgages; many banks have yet to do more on foreclosure case.
[08:39] {Threei}  - Crisis strengthens the point that capital is key to regulation.
[08:39] {Threei}  - Most US banks should meet the Basell III requirements prior to the 2019 deadline.
[08:39] {Threei}  2019 eh
[08:39] {Threei}  they are not in any particular rush
[08:40] {RonS} does anyone recognize how unreal it is that the Feds are deciding when a private company can pay dividends?
[08:41] {jfjf64} MORNIN ALL
[08:41] {RonS} dictats from The Party
[08:44] {Threei}  jf :)
[08:44] {Threei}  whole thing is quite unreal
[08:50] {Les} anyone awake over there?
[08:51] {nemo} we're just ignoring you
[08:51] {Les} typical
[08:51] {RonS} a world awash in socialism 3i...
[08:51] {nemo} you blame us?
[08:51] {Les} not really
[08:51] {Threei}  awake Les, but questioning the rationality of it
[08:51] {Les} u thinking?
[08:51] {Threei}  yes Ron... amazes me
[08:52] {Threei}  seems history lessons are really useless
[08:52] {Threei}  it's not just a cute phrase
[08:52] {RonS} too big to fail means nothing succeeds...
[08:52] {Les} I think its great
[08:52] {Les} validation of phrase "nothing new under the sun"
[08:53] {RonS} the perrenial hubris of man...trying to control the fates
[08:54] {Les} worse. thinking "this time its different"
[08:54] {Les} I love this expression
[08:54] {nemo} Plu cest change, plu cest le meme chose
[08:55] {Les} mais oui
[08:56] {Threei}  it's even more striking in all kinds of face to face conversations
[08:56] {RonS} ...i think i should say: trying to control the fates through dominion over other men
[08:57] {Threei}  when people defend all the socialistic solutions, and you try to tell them about zillion social experiments in this area,
[08:57] {Threei}  in all countries and centuries
[08:57] {Les} happily there a little pockets of sanity like this room. We know otherwise
[08:57] {Threei}  to hear all the arguments they come up with, it's incredible
[08:58] {Threei}  "but Lenin and Stalin just were the wrong people for this" being main one
[08:58] {Threei}  I say, hey, show me the single right one in all the history
[08:59] {Threei}  it can't be that multiple attempts failed all for the same reason, right?
[08:59] {dino} gm agm all
[08:59] {Threei}  there would be at least a few examples where "right people" did this, aand succeeded
[08:59] {Threei}  hey dino
[08:59] {dino} sheesh, typos already
[08:59] {Threei}  lol
[08:59] {Threei}  sorry dino
[08:59] {Threei}  it's contagious
[09:00] {ese} gm
[09:00] {Threei}  hey ese
[09:01] {RonS} fired my dentist today...found a better, cheaper one
[09:01] {dino} atlas shrugged again
[09:02] {dino} lol ron, when i owned insurance agency, every january we would fire cetain clients
[09:02] {ese} dentists?
[09:03] {dino} pain in the azz ones
[09:03] {Les} really dino? on what grounds?
[09:04] {Les} ok
[09:04] {Threei}  bad haircut
[09:04] {Les} get a haircut son and get a real job
[09:05] {RonS} classic: Tianli Agritech...symbol:  oink
[09:06] {dino} losing $ on you
[09:07] {RonS} did ya hear Bloomberg is now the soup nazi?
[09:08] {RonS} wants to cut salt intake so no salt for soup!
[09:09] {ese} soup nazi?
[09:09] {RonS} Seinfeld
[09:10] {ese} oh ya......
[09:10] {dino} dji gap 11215, s/p 1197 look to fill
[09:11] {dino} then 10662, 2128, 1165
[09:12] {larisa} gm :)
[09:12] {Les} hey larisa :)
[09:12] {larisa} les :)
[09:12] {Threei}  larisa :)
[09:13] {larisa} :)
[09:13] {RonS} ...early day here. going to a festivus event with "the boys" for lunch :O
[09:13] {RonS} ...airing of greivences, etc...
[09:15] {dino} silver smacked
[09:15] {RonS} spin the wheel of crticiism...perform feats of strength
[09:15] {dino} lol seinfeld
[09:21] {RonS} euro getting a little run...
[09:22] {Threei}  - A rumor of an imminent 80B bailout of Ireland was denied by gov't officials but the sentiment was building that some sort of deal was perhaps in the works.
[09:22] {Threei}  - The timing with the G20 and the euro group appeared to be right and the EU as well as Germany had clarified that a bailout now would still happen under the existing European Financial Stabilization Facility.
[09:26] {RonS} dds breakout on earnings
[09:27] {RonS} wow, dds 7.6 mil sh short
[09:28] {RonS} donde esta _flautero?
[09:29] {RonS} pomo today
[09:31] {Threei}  LVS sharp drop
[09:31] {Threei}  RIMM sharp spike
[09:31] {Threei}  both are out of blue
[09:32] {Threei}  RIMM watching for short
[09:32] {RonS} S&P Raises Las Vegas Sands Corp. Rtg To BB- From B; Outlk Stable       11/12 07:32 AM
[09:32] {dino} pretty sure pomo everyday until dec.
[09:38] {Threei} Short Setup: WFC  .87
[09:38] {Threei}  if stays under .95 for scalpers
[09:38] {Threei}  28 day traders
[09:39] {Threei}  with any market help has potential for about 27.55 - .60
[09:39] {Threei}  (US) Preview: Nov Preliminary University of Michigan Confidence data due out at 09:55 ET
[09:41] {Threei}  sheesh RIMM
[09:43] {dino} sm l wcrx .01
[09:43] {dino} stop .73
[09:45] {davd} in wcrx .01 small
[09:50] {dino} kra sm l .32 thin, stop .98
[09:51] {Threei} Short Setup: X  .80 break
[09:51] {Threei}  if stays under .85
[09:52] {dino} skx sm l .78
[09:53] {Threei}  invalidated
[09:53] {dino} stop .47
[09:54] {Threei}  - 1 yr median inflation expectations at 3.0% v 2.7% Oct final.
[09:54] {Threei}  - 5 yr median inflation expectations at 2.8% v 2.8% Oct final.
[09:55] {RonS} what? they poll consumers doe inflation expectations? ridiculous
[09:55] {RonS} for
[09:56] {Threei}  well, the idea is that expectations set behavior
[09:56] {Les} skx stop dino`
[09:56] {Les} ?
[09:56] {davd} in skx .8
[09:56] {dino} .47 above
[09:56] {Les} ah ty
[09:57] {dino} np
[09:57] {Les} $drop thru 77
[09:57] {Les} 77.9
[09:57] {Les} looks like b/d
[09:57] {dino} ba
[09:57] {dino} symbol for $ les
[09:58] {Les} the almight dollar
[09:58] {Les} almighty
[09:58] {dino} what symol?
[09:58] {RonS} my only expectation is for the government to continue to manipulate the economy...we are living the largest ponzi scheme ever foisted in the history of man
[09:58] {dino} symbol
[09:58] {Les}
[10:01] {dino} does anybody have a ticker for dollar besides uup?
[10:03] {RonS} no...the uup tracks $ vis a basket...if you want specific crosses go to
[10:04] {RonS} i watch the eur/usd and the eur/jpy
[10:04] {dino} thx
[10:04] {RonS} ...seems to be the best indicator of "risk on" vis "risk off"
[10:05] {dino} ticker symbols?
[10:06] {Les}
[10:09] {Threei}  not finding much to trade
[10:09] {dino} slow
[10:10] {RonS} dino you can also track directionality of the eur/usd w/ symbol fxe...since it is an etf the numbers don't match the actual cross which is why i use dailyfx live currency market straming
[10:10] {Les} PM's getting nasty. SLV selloff
[10:12] {nemo} pwer
[10:13] {RonS} ese crying
[10:14] {Les} q's lost all support. IWM is holding up m arket
[10:14] {Les} $rut
[10:15] {Les} lol POMO injection. Addict getting his high
[10:15] {Threei}  (IR) Ireland reportedly in talks to receive emergency funding; likely Ireland to receive financial assistance from EU backstop - unconfirmed report
[10:15] {Threei}  - Reminder: Overnight a rumor of an imminent 80B bailout of Ireland was denied by gov't officials but the sentiment was building that some sort of deal was perhaps in the works.
[10:15] {Threei}  - The timing with the G20 and the euro group appeared to be right and the EU as well as Germany had clarified that a bailout now would still happen under the existing European Financial Stabilization Facility
[10:16] {dino} iceland rumors too
[10:18] {Threei}  - Assistance may not require debt restructuring or hair cuts to bond holders
[10:19] {Threei}  if they chose beheading of bond holders as assistance, that would satisfy both those conditions
[10:23] {dino} kra stopped
[10:23] {dino} itri sm l .74
[10:23] {dino} stop .43
[10:27] {ese} L agnc.60
[10:28] {Les} s nvda .59
[10:28] {Les} stop above .70
[10:28] {Les} half covered .52
[10:28] {RonS} nice Les
[10:29] {Les} ty
[10:29] {davd} in itri .7 small
[10:30] {Threei}  watching LVS
[10:30] {Threei}  for little bounce and then break of .50
[10:30] {Threei}  short trigger
[10:31] {Threei}  no, not liking it rught away
[10:31] {Threei}  want a bounce first, to establish resistance
[10:33] {Les} 2nd half covered -.01
[10:34] {ese} out agnc. .58 -.02
[10:34] {ese} price action was not what i thought it was
[10:36] {Threei}  anyone went for LVS?
[10:37] {Threei}  .65 resistance established on bounce
[10:37] {Threei}  perfect break
[10:37] {ese} not i
[10:37] {Threei}  1:2
[10:37] {Threei}  (IR) Ireland Fin Min reiterates prior comments that have not applied for access to EU backstop funds
[10:38] {Threei}  Fed cancels coupon purchase operation
[10:38] {Threei}  why?
[10:38] {Threei}  bought all they needed?
[10:38] {dino} csco sm l .25
[10:38] {dino} stop .93
[10:40] {dino} whr sm l .00, stop .72
[10:43] {davd} in whr .00 small
[10:43] {RonS} pomo delayed not canceled
[10:44] {Threei}  NY Fed delayed auction results; coupon purchase to resume; results due after 11:30am; cites technical difficulties
[10:45] {RonS} so, how many pissed of people now?  but not Les.  Mr. Unconcious...:D
[10:46] {Les} I sense a certain dark streak in your character Ron
[10:46] {Les} outta here. Aikido time. c u's later
[10:46] {RonS} one of my friends named me "The Dark Overlord"
[10:47] {dino} whr stopped -.27
[10:53] {davd} itri stop dino?
[10:55] {ese} whats going on.....the sell off because of bond tecnicalities
[10:55] {Threei}  wow GLD
[10:55] {dino} skx stopped
[10:55] {Threei}  bounce from about .45-.55
[10:55] {davd} skx stopped
[10:56] {Threei}  too fast for entry
[10:56] {Threei}  .30 was it
[10:56] {Threei}  grrr
[11:01] {RonS} l skx .45
[11:24] {Threei} Short Setup: RIMM  60 break
[11:24] {Threei}  half loty
[11:24] {RonS} out skx .07...was driving me nuts
[11:25] {RonS} +.07
[11:25] {Threei}  valid again
[11:25] {Threei}  if stays under .10
[11:27] {Threei}  no go
[11:27] {dino} got booted
[11:28] {Threei}  didn't miss anything, things are dead
[11:28] {dino} rkt was affed at .75 sm l
[11:28] {RonS} and we thought you went to aikido
[11:28] {dino} i should, kids home, in service day
[11:29] {dino} gut says up
[11:30] {Threei}  mine is totally silent
[11:30] {RonS} gut says fill me
[11:32] {dino} yeah that too
[11:33] {RonS} a great dino died...dino de
[11:34] {Threei}  NY Fed: Purchased $7.23B in outright coupon purchase; dealers submitted $29.04B for consideration (bid to cover 4.01); first auction as part of QE2
[11:34] {Threei}  - Heaviest purchase $B in the maturity
[11:34] {Threei}  - Avg bid to cover over prior four auctions is: 9
[11:35] {RonS} Jessica Lange in King Kong...smokin...
[11:35] {nemo} wow
[11:36] {nemo} where did that come from
[11:36] {Threei}  lol
[11:37] {Threei}  from the deep well of boredom?
[11:39] {RonS} laurentiis directed King Kong and hand picked unknown Jessica Lange
[11:40] {Threei}  RIMM rinse
[11:40] {RonS} how hot was she?  Barishnikov knocked he up...that guy could have had any broad on the planet in the day
[11:41] {dino} lol
[11:41] {dino} out whr .95, +.70
[11:42] {dino} fast drop
[11:42] {Threei}  well, maybe he did, and she just was the one with no precations?
[11:43] {Threei}  wtg dino
[11:43] {dino} ty
[11:43] {dino} may re-enter
[11:47] {dino} mkt drop
[11:47] {RonS} Barishnikov...reminded me of Robin Hood - Men in
[11:48] {Threei}  RIMM makes me cry
[11:48] {RonS} often
[11:48] {Threei}  no, just this time
[11:49] {Threei}  disguting runse, then worked like charm
[11:49] {RonS} i think it was ese who said:  "I hate RIMM"
[11:49] {dino} i've said it too
[11:50] {larisa} magoo hates it a lot :)
[11:54] {dino} yhoo working on gap fill
[11:57] {Threei}  Hyundai Motor Co US exec: sales of 2010 Sonata well above company forecasts; not able to meet demand this year, and likely to be supply constrained in 2011 as well
[11:57] {Threei}  they really did fantastic job on their latest lineup
[12:00] {davd} itri stopped
[12:01] {dino} same
[12:08] {Threei} Long Setup:  LVS  49 break
[12:08] {Threei}  stop under .95
[12:09] {Threei}  sigh
[12:09] {Threei}  why did I bother to wake up today?
[12:11] {dino} sm l whr .40
[12:19] {nemo} QEII gap close
[12:19] {Threei}  bounce is close
[12:19] {davd} interesting point nemo
[12:20] {nemo} pivot support 119.80
[12:22] {dino} 1197 gap filled
[12:22] {dino} 2128 ndx next
[12:23] {dino} ba lod
[12:25] {dino} ba sm l .40
[12:29] {dino} ndx filled
[12:30] {Threei} Long Setup:  LVS  .85 break
[12:30] {dino} yoo filled
[12:30] {dino} yhoo
[12:31] {Threei}  invalidated
[12:33] {dino} whr stopped
[12:38] {dino} itri sm l .01 ave
[12:38] {Threei} Long Setup:  LVS  .35 break
[12:38] {nemo} too fast
[12:40] {Threei}  1:1
[12:40] {dino} intc l .40 stop .24
[12:40] {Threei}  1:2
[12:42] {davd} in itri .01
[12:49] {davd} whr stopped.  it is really giving me quite a wash today
[12:49] {dino} it's a toughoe
[12:49] {dino} toughie
[12:50] {dino} options exp friday, watch the 0s and 5s imo
[13:05] {davd} what is imo?
[13:05] {dino} in my opinion
[13:06] {dino} which isn't worth much
[13:06] {Threei}  lol
[13:06] {davd} it's one step above fyi
[13:06] {nemo} iyo
[13:06] {dino} we missed whr
[13:08] {davd} i i stopped 2/3 and hold 1/3.  still under water
[13:09] {larisa} CAT trying to break downtrend, but market stinks
[13:09] {dino} yhoo l .50 stop .38
[13:10] {Threei}  {market} OK, I'll hit the shower... wait for me
[13:22] {Les} CSCO looking b/downish
[13:23] {Les} if the market rolls
[13:24] {Les} lvs .50
[13:25] {Les} l lvs .52 stop under .20
[13:26] {nemo} WOW!
[13:26] {Les} u playin world of warcraft?
[13:26] {dino} whr sm l .95
[13:27] {Les} with ya .98
[13:27] {dino} stop .65
[13:34] {Les} dishes are doooooone man
[13:34] {Les} exit lvs .78
[13:34] {Les} hmm CSCO
[13:35] {Threei}  nice one LVS
[13:35] {Les} ty
[13:35] {Les} looking at it through the eyes of dino
[13:35] {nemo} doesn he know about that?
[13:35] {Threei}  lol
[13:35] {dino} bloodshot
[13:36] {dino} had a few pbr's last night, gotta tell you theyaren't bad. as good as a bud imo
[13:36] {dino} intc 1;1
[13:36] {nemo} bud is water
[13:39] {Les} yeh I think bud is illegal in Europe
[13:39] {nemo}'s brewed in the Czech Republic
[13:39] {Les} ah that is good. I'm thinking of American light beer crap
[13:40] {dino} hmmmm. now i can enjoy them all
[13:40] {nemo} yeah, kinda' like Fosters
[13:40] {Les} yuck
[13:40] {nemo} what did you drink back there Les?
[13:41] {Les} Coopers
[13:41] {Les} Coopers green
[13:41] {Les}
[13:42] {Les} I'll drink Vic of XXXX if really bloody thirsty
[13:42] {Les} or, not of
[13:46] {dino} pde
[13:47] {dino} sm s .25
[13:48] {Threei}  GM IPO reportedly scheduled to close order books on Tuesday; will price towards upper end of range - unconfirmed report
[13:49] {Threei}  - Current demand forecasted at approx $60B ($10B disclosed in IPO), citing institutional interest
[13:49] {dino} cov .84, +.41
[13:49] {Les} whr stopped -.10
[13:50] {dino} out intc .56, +.16
[13:50] {dino} whr is a dog right now
[13:52] {Les} yeh lower highs
[13:53] {Les} but currencies reversing.... again
[14:04] {Les} damn second day DBA slide and I've missed it again
[14:05] {Les} commodities coming back to earth
[14:05] {nemo} no, stratosphere from the ionosphere
[14:05] {Les} for a moment anyway
[14:05] {Les} right
[14:05] {nemo} lvs les
[14:06] {Les} s or l?
[14:06] {Les} not clear to me yet
[14:06] {jfjf64} l
[14:06] {jfjf64} imo
[14:06] {nemo} depends on spy, but it's near support at either .30 or .25
[14:07] {Les} yeh I suspect short.
[14:07] {Les} depends on Russell2k
[14:07] {nemo} spy coming back to low
[14:08] {Les} prefer the indexes drop away from support first
[14:08] {Les} IWM 72 pivot support
[14:09] {nemo} yeah
[14:09] {Les} that frikin index has sucked me in so many times around support levels
[14:10] {dino} ms spet gap fi;;
[14:10] {dino} fill
[14:11] {dino} wow; ms sept gap fill, sheesh
[14:11] {nemo} been here too long
[14:11] {dino} yeah
[14:20] {Les} lvs ain't so eager this time
[14:21] {nemo} goes to 200 ma
[14:21] {nemo} spy at 200 m
[14:21] {nemo} a
[14:31] {Les} off a cliff
[14:31] {nemo} yep
[14:31] {dino} zzzzzzzzzzzzzzzzzz
[14:32] {Les} go short young man!
[14:43] {kowboy} .
[14:45] {Threei}  SBUX Statement from Starbucks Clarifying Comments Made in China on single serve coffee category; China exec comments "mischaracterized"
[14:45] {Threei}  - Statements coming out of multiple news reports from China by Starbucks chairman, president and CEO, Howard Schultz, were mischaracterized by the press.
[14:45] {Threei}  - Starbucks Coffee Company recognizes the dynamic growth in the single-serve category and is pleased with the success of Starbucks VIAReady Brew, our first entry into this category. In its first year, Starbucks VIAreached nearly $135 million in sales, making it a mega hit as categorized by SymphonyIRI.
[14:45] {Threei}  - Consistent with our prior statements, we look forward to providing Starbucks customers with more ways to enjoy Starbuckscoffee, one cup at a time.
[14:51] {Threei}  incredibly lazy day
[14:51] {nemo} lvs touched the 200
[14:52] {dino} itri woke up
[14:54] {Threei}  Losses double for US Postal Service
[14:54] {Threei}  why?
[14:54] {nemo} infrastructure less mail, retirement costs
[14:55] {Threei}  cancel that Saturday mail
[14:55] {nemo} they will but that's hardy the problem
[14:55] {nemo} hardly
[14:55] {dino} out itri .45, +.44\
[14:55] {Threei}  Friday too then
[14:56] {larisa} hey! be quiet in Canada :)
[14:56] {Threei}  okay :)
[14:56] {larisa} I want my delivery every day
[14:56] {Threei}  but we don't get mail on satirdays
[14:56] {dino} we do
[14:56] {Threei}  and guess what... no one even notices
[14:56] {nemo} your canadian, who sends you mail
[14:56] {larisa} lol
[14:56] {Threei}  oh... that's why
[14:56] {dino} fo spike
[14:59] {Threei}  FO Hearing vague renewed takeover chatter circulating (54.93, +0.55, 1.01%)
[15:01] {dino} lari, ty on cat, +.30
[15:02] {larisa} gj, scalped it twice too
[15:02] {Threei}  good job guys
[15:02] {Threei}  guy and gal?
[15:05] {larisa} i am  dolphin in heart, not a gal
[15:06] {dino} and i'm a dog
[15:06] {Threei}  can't a dolphin be a gal?
[15:06] {larisa} lol dino
[15:06] {larisa} no threei
[15:07] {Threei}  hmmm
[15:07] {Threei}  how do they procreate?
[15:07] {larisa} go check your mail please
[15:08] {dino} lol
[15:09] {Threei}  by sending bills???
[15:13] {nemo} quite the recover lvs
[15:16] {dino} out csco, -.14
[15:16] {dino} out yhoo +.07
[15:16] {Threei}  LVS puulback is deepe enough to start looking for entry
[15:17] {dino} whr rinsed me again, p.o.s.
[15:17] {nemo} it was .92
[15:17] {nemo} big offer
[15:17] {Threei}  took it for scalp
[15:17] {Threei}  too fast to post
[15:18] {nemo} just like you, keep it for yourself
[15:18] {Threei}  yeah, that's me, LOL
[15:18] {Threei}  actually, wait... I have better comeback
[15:19] {Threei}  I wanted to tel you know but your postal service was too overloaded
[15:19] {dino} out ba -.07
[15:20] {dino} out wcrx all day-.05
[15:20] {dino} calling it a week, thx all, had fun
[15:21] {larisa} bye dino :)
[15:21] {dino} :D
[15:22] {Threei}  take care dino'
[15:26] {Threei}  LVS, from under .50 on the next leg down
[15:29] {Threei}  .50 was it
[15:29] {Threei}  missed
[15:29] {nemo} yeah 200 ma just above it
[15:55] {nemo} lvs offer
[15:57] {nemo} fcx at resistance, probably long monday
[15:57] {Threei}  thank you asll
[15:57] {nemo} c u
[15:58] {Threei}  have a great weekend, see you on Monday, next week must be interesting
[15:58] {larisa} bye asll :)