Thursday, December 23, 2010

Dec 23 2010

As expected, inactive day of pre-holiday trading. Still, our tweaked-for-holiday approach netted us a few nice trades early.

[08:50] {Threei}  Aixtron AG Confirms that it has completed plans to convert into a SE company - Update- The company's headquarters will remain in Herzogenrath district of Aachen. AIXTRON is sticking to its current two-tier system consisting of fixed and Supervisory Board. With the SE-transformation no changes in management and supervisory boards, or other changes are connected within the group. Shareholders of AIXTRON AG AIXTRON shareholders are automatically SE and also the rights of shareholders or the financial reporting does not affect the conversion.
[09:01] {Threei}  jf, you read yesterday's log?
[09:06] {dino} gm all
[09:07] {Threei}  dino :)
[09:08] {dino} :)
[09:15] {stewy} morning everyone
[09:15] {Threei}  stewy :)
[09:18] {jfjf64} yes i read  log
[09:18] {jfjf64} lots  tao
[09:18] {jfjf64} lol
[09:19] {Threei}  I actually meant the tweak in tactics we apply
[09:19] {jfjf64} yes
[09:19] {Threei}  will stay with this approach for the time being so wanted to make sure everyone's up to date
[09:20] {jfjf64}  i was in room earliar  yest
[09:20] {larisa} gm :)
[09:20] {Threei}  larisa :)
[09:20] {jfjf64} lariisa
[09:20] {larisa} :)
[09:20] {jfjf64} are  we  still using same  tactics today
[09:21] {Threei}  [09:19] {Threei} will stay with this approach for the time being
[09:21] {jfjf64} wait  for  rince ect
[09:21] {jfjf64} a man with a  plan
[09:22] {jfjf64} jf likes plan
[09:22] {jfjf64} off subject quick   anyone  catch oprah  yest   10 year old singer  wow
[09:23] {jfjf64} jackiie evancho
[09:23] {jfjf64} google
[09:25] {RonS} gm everyone  :)
[09:25] {jfjf64} rs
[09:25] {Threei}  ron :)
[09:30] {ese} morning....late rehearsal and beer
[09:30] {jfjf64} sound il fun
[09:30] {jfjf64} lk
[09:31] {ese} was
[09:31] {Threei}  ese :)
[09:31] {jfjf64} had couple  black & tans myself
[09:33] {dino} had a couple black and tan yueglings last night
[09:33] {jfjf64} never  tried  dino
[09:33] {dino} very good imo
[09:33] {jfjf64} taste  good
[09:33] {Threei} Long Setup:  LVS  .50 break if stays above .40
[09:34] {ese} missed
[09:35] {Threei}  1:1
[09:35] {jfjf64} niceeeeeeeeeeeeeeee
[09:36] {Threei}  out
[09:36] {ese} whoaaaaa!!!1
[09:36] {Threei}  +.35
[09:36] {jfjf64} yeah
[09:36] {jfjf64} gj
[09:36] {ese} good call cheif
[09:36] {Threei}  and even that was too soon, lol
[09:36] {ese} chief
[09:36] {Threei}  ty
[09:36] {jfjf64} you grab it ese  2nd  chance
[09:37] {ese} nope.......was at .55 when i looked
[09:37] {dino} msb
[09:38] {Threei}  watching X
[09:38] {Threei}  .70 break would be classic setup, waiting for a rinse
[09:39] {Threei}  if rinses, entry around .55 is likely
[09:40] {Threei}  nah, market push kept it
[09:41] {Threei}  numbers are coming soon, 9:55 UofM confidence and 10 new home sales
[09:42] {ese} anybody still in lvs?
[09:43] {dino} kmx sm l .55
[09:46] {Threei} Short Setup: X  59 break
[09:46] {Threei}  if stays under .10
[09:50] {Threei}  1:1
[09:51] {stewy} missed lvs,  got x 1:1 ty
[09:51] {Threei}  :)
[09:52] {dino} msb blood
[09:53] {Threei}  waiting out numbers
[09:54] {jfjf64} you still in   x
[09:54] {Threei}  no, went above trailed stop for second half
[09:54] {Threei}  case if "scalpers win"
[09:54] {Threei}  of
[09:57] {Threei}  ugh
[09:57] {Threei}  ciould type LVS .40 short in tyime
[09:57] {Threei}  couldn't
[10:00] {Threei}  *(US) NOV NEW HOME SALES: 290K V 300KE
[10:01] {dino} skx sm l .94
[10:01] {Threei}  Prior revised lower from 283K to 275K - Median price $213K v $194.9K prior - Months supply: 8.2 v 8.6 prior
[10:02] {ese} mmaaaaaggggsssssss!   lookin at rimm L .01
[10:03] {ese} missed it........was typing
[10:03] {ese} crap!
[10:03] {Threei}  look at this:
[10:03] {Threei}  - Homes for sale: 197K v 202K in Oct (lowest since March 1968)
[10:04] {Threei}  market fiorces start working?
[10:04] {Threei}  invisible hand so to speak
[10:05] {Threei}  LVS watching for bounce entry around .80
[10:06] {ese} am watching it also
[10:07] {Threei}  took .83
[10:08] {Threei}  stop .79
[10:08] {Threei}  out
[10:08] {Threei}  like fish in a barrel
[10:11] {dino} no 3i, foreclosure halts, thats the issue on drop
[10:12] {Threei}  ah I see
[10:12] {Threei}  nothing's what it seems eh :)
[10:12] {dino} atty gen of states suing to stop them for paperwork issues
[10:17] {dino} skx to .99
[10:17] {dino} finl sm l .51 stop .29
[10:30] {RonS} jf, ya hear about the new CIA working group?
[10:30] {jfjf64} no
[10:30] {RonS} WTF
[10:30] {jfjf64} lol
[10:30] {jfjf64} lol
[10:30] {RonS} Wikileaks Task Force
[10:31] {RonS} am not kidding
[10:31] {ese} is that for real ron
[10:31] {jfjf64} comon
[10:31] {ese} i wouldn't doubt it
[10:31] {RonS} ya see the Rex Ryan NY Post headline?
[10:32] {Threei}  lol
[10:32] {jfjf64} whats it say
[10:32] {RonS} Agony of Defeet
[10:32] {jfjf64} haaaaaaaaaaaa
[10:33] {dino} skx stopped +.05
[10:33] {jfjf64} F  E   E   T    S
[10:35] {ese} L zion .89
[10:43] {ese} out .98 +.09
[10:45] {dino} ctrp sm l .25
[10:46] {ese} dino whats the story on ctrp.....been watching it for about 5 days or so
[10:46] {ese} it had a move yesterday but didn't catch it
[10:51] {Threei}  only 27% of Likely U.S. Voters trust Russia to honor the nuclear weapons agreement. Half (49%) do not trust the Russians, and another 25% are not sure.
[10:52] {ese} whats your thoughts on that chief?
[10:52] {jfjf64} MY THOUGHTS  THEY  DONT  KNOW 3I
[10:52] {Threei}  27% are insane
[10:52] {ese} if your ok with that then we start making jokes......if not we shut up
[10:52] {Threei}  49% are sane
[10:53] {jfjf64} MOS
[10:53] {Threei}  that tgreaty will be respected as long as there is no money to violate it, or violation makes no sense and brings no benefit
[10:54] {Threei}  if need arises and finances allow, it will be broken with no second thought
[10:55] {ese} your arguments are to rational.......what we want to know is.....can we start going crazy on you with jokes because you are
[10:57] {ese} you know ...find some angle with probing laughs to destroy your psychie......that sort of thing.....
[10:57] {Threei}  go ahead
[10:57] {ese} lol
[10:57] {Threei}  my psyche is indestructible
[10:58] {ese} i would tend to agree with that
[10:58] {Threei}  it refuses to acknowledge the very existence of external world and other people in it
[10:58] {Threei}  so it's safe
[10:58] {ese} lol
[11:01] {Threei}  things are so slow, I can't discern any pattern anymore
[11:01] {ese} agreed.........dangerous
[11:02] {jfjf64} vol way off
[11:02] {jfjf64} yoku
[11:02] {nemo} you guys having fun?
[11:02] {Threei}  trying to
[11:03] {ese} yup.....trying to destroy vads psychie....but it ain't workin
[11:03] {nemo} I'm polishing silver
[11:03] {RonS} not as much as shooting bambi...
[11:03] {nemo} saw a couple yesterday, but they were moving too fast.  I'm not a fan of running shots
[11:04] {nemo} I'll try again when I get back home
[11:04] {jfjf64} where are ya  nemo
[11:04] {ese} where are you now
[11:04] {nemo} Cape May, NJ
[11:05] {ese} on the beach
[11:05] {jfjf64} nice
[11:05] {nemo} my cousin's kitchen polishing silver
[11:06] {jfjf64} little  brandy
[11:06] {nemo} Haven't started drinking yet...didn't get in until 3:30 this morning
[11:07] {jfjf64} good time
[11:07] {nemo} No, that's how long it took to drive from Massachusetts
[11:07] {jfjf64} lol
[11:08] {jfjf64} bout 5 hrs
[11:08] {nemo} 7
[11:08] {nemo} frickin garden state parkway
[11:09] {dino} enjoy nemo
[11:09] {ese} how can they call NJ the garden state i'd like to's solid concrete
[11:10] {nemo} Actually, you' be surprised how much is rural
[11:10] {RonS} ...originated truck farming there...
[11:10] {dino} asphalt state is the joke
[11:11] {RonS} Campbell's Soup
[11:11] {dino} that msb is juming from 42 to 43 over and over
[11:11] {ese} dino....crtp.......whats the story there?
[11:11] {ese} ctrp....
[11:11] {RonS} ya, tried for a 41.40 entry and missed...
[11:12] {dino} dk es, just a pulp type china stock, sort of pcln
[11:13] {dino} in it at .25
[11:13] {dino} ron, thinking 42
[11:13] {ese} ahhhh
[11:13] {ese} L zion .89
[11:14] {ese} ya saw that......have been following it for a few days
[11:14] {dino} finl to .81
[11:18] {RonS} cree
[11:19] {ese} thats moving nice......where'd that come from
[11:20] {RonS} eur poppin
[11:31] {dino} out finl +.30
[11:34] {nemo} well, off to the liquor market...c u
[11:35] {Threei}  hmmm
[11:35] {Threei}  you run out of booz?
[11:35] {nemo} I'm at my cousin's need to stock up
[11:35] {Threei}  how uncaring oln cousin's part
[11:35] {nemo} yeah, no shit
[11:35] {jfjf64} lol
[11:36] {Threei}  express our group unsatisfaction to him
[11:36] {nemo} her
[11:36] {Threei}  her
[11:36] {RonS} have a good Christmas Nemo...
[11:36] {jfjf64} uncle nemo  coming  to  town
[11:36] {Threei}  and cousin is unprepared
[11:36] {nemo} c u
[11:36] {jfjf64} ya think
[11:37] {Threei}  take care nemo
[11:37] {dino} merry xmas nemo
[11:37] {Threei}  see you monday
[11:37] {jfjf64} happy days  nemo
[11:37] {stewy} enjoy yourself nemo
[11:40] {ese} merry christmas nemo
[11:41] {Threei}  uh oh
[11:41] {ese} what?
[11:42] {RonS} Scrooge that Fitch
[11:42] {ese} the fitch that stole christmas
[11:43] {Threei}  I guess it was coming
[11:43] {Threei}  market is not reacting much
[11:44] {Threei}  then again, everyone knows Portugal is dead in the water, and not a last straw... it's Spain that is real question
[11:46] {dino} not really a question, just a matter of when
[11:46] {dino} teva
[11:47] {ese} wow
[11:47] {Threei}  Teva Pharmaceutical Industries Ltd FDA Issues Complete Response Letter for Lower-Volume Glatiramer Acetate sNDAThe complete response letter stated that the FDA could not approve the application as submitted.
[11:47] {RonS} MS drug news
[11:48] {dino} no approval
[11:48] {Threei}  - The FDA noted that the 0.5mL formulation contained the same active ingredient as the currently marketed Copaxone, but that because the mechanism of action of Copaxoneis not fully understood, even a formulation change could impact clinical outcomes. The Agency stated, "Unless you can provide a convincing argument that the new higher concentration/lower volume formulation does not have an impact on efficacy, an adequate and well controlled efficacy study will be needed to support efficacy of this new formulation." - This response supports Teva's belief that even slight changes to a glatiramoid like Copaxonecan significantly and unpredictably influence the efficacy, toxicity and immunogenicity profile of the compound. Teva intends to continue working closely with the FDA to determine the most appropriate next steps regarding the application.
[11:48] {Threei}  I am lost
[11:48] {Threei}  nothing new about that though
[11:49] {Threei}  my normal state
[11:49] {ese} ya mine too
[11:49] {Threei}  disapproval sends it up a dollar?
[11:50] {Threei}  FDA should order total closure of production, TEVA would go to 100
[11:50] {ese} hmmmmm
[11:51] {ese} well that fits market senario........reacts opposite to what should happen
[11:51] {dino} ppo
[11:52] {RonS} wtf...The complete response letter stated that the FDA could not approve the application as submitted
[11:52] {RonS} lol
[11:54] {Threei}  Ron is trying to compete with me for the title of the "most lost" I see
[11:57] {ese} out zion all square
[11:57] {Threei}  yeah... order TEVA to close plants, it will skyrocket
[11:58] {dino} risky sm l msb .00
[11:59] {dino} ctrp to .49
[12:07] {dino} out ctrp +.24
[12:14] {dino} .
[12:17] {jfjf64} good day to all  happy holidays my friends!!!!!!!!!!!!!!!!!
[12:21] {Threei}  merry christmas jf
[12:21] {dino} merry xmas jf
[12:22] {RonS} cya jf
[12:22] {stewy} jf, take care
[12:26] {ese} later jf......
[12:27] {ese} was probably to late with that
[12:27] {Threei}  still better late than never - jf may just sit aroiund the corner and make a list of those who havent bothered to ay good bye
[12:31] {ese} ahhhhhh......didn't think of that
[12:31] {ese} was late with comment as well
[12:31] {ese} lots of beer the night before slows down your reaction time
[12:32] {Threei}  it's OK, you just avpided being put on my list of those who don't comment...
[12:33] {ese} lol
[12:38] {stewy} .
[12:38] {Threei}  lol TEVA
[12:38] {stewy} 3i, bbby worth watching here?
[12:39] {Threei}  nah
[12:39] {Threei}  coin toss
[12:39] {stewy} too many tossed coins for me
[12:40] {dino}  better than tossing your cookies
[12:41] {Threei}  I toss cakes these days
[12:41] {Threei}  effect is so much morfe dramatic
[12:41] {Threei}  if you get a passerby in the face
[12:42] {Threei}  and if they are unhappy, I just refer to juniper berries (hat tip to Ron)
[12:43] {ese} only thing i can think of for teva is that the mrkt thinks the report is not as bad as expected
[12:43] {Threei}  TEVA defies all common sense today
[12:43] {ese} sure is stupid though
[12:45] {ese} market makers just looking for something to do
[12:45] {Threei}  53 on horizon
[12:51] {dino} are there any market makers left, i thought it was all computers
[12:51] {dino} and naz always was
[12:51] {ese} somebody has to operate the computors and take the orders
[12:51] {dino} computers take the orders
[12:53] {ese} L crock of sh*^ .51
[12:53] {ese} sorry thats crox
[12:53] {dino} lol
[12:54] {ese} sm
[12:59] {RonS} wearing crocs as we speak...
[13:00] {ese} you pouf you
[13:00] {RonS} ...lost their cfo, who i thought was a bozo...
[13:00] {ese} what kind of apparel is that for a trader to be wearing
[13:01] {RonS} shoes...
[13:01] {Threei}  don't complain, it could be much worse
[13:01] {Threei}  magoo for instance trades in tutu
[13:01] {RonS} hehe
[13:01] {dino} which is not a pretty sight
[13:01] {ese} beat up runners......cigarette hanging out of one side of your mouth........4 days growth of a half kept beard
[13:02] {ese} bags under your eyes
[13:02] {ese} bottle of whisky near by
[13:02] {ese} for a quick swig
[13:03] {Threei}  ese, you reminded me one of seminars I held on scalping
[13:03] {ese} white shirt with yellow stained left sleeve from wiping off your mouth after the quick swig
[13:03] {Threei}  after listing and debunking some myths on scalping, I said
[13:03] {ese} lol
[13:03] {Threei}  last one to emntion is,
[13:04] {ese} ?
[13:04] {Threei}  scalper is this 20-somrthing, chain-smoking, drinking coffee by gallons, swearing at his monitor, throwing keyboard out of the window
[13:04] {ese} CRAMMER!!!!!!!!!!!!!
[13:04] {Threei}  at this point I changed my mind about debunking it and finished sentence:
[13:05] {Threei}  it's all true
[13:05] {ese} lol
[13:05] {Threei}  audience was ecstatic
[13:05] {ese} this is my impression of mags
[13:05] {Threei}  plus tut
[13:05] {Threei}  tutu
[13:05] {dino} it matches
[13:06] {Threei}  hehe
[13:06] {Threei}  gotta make sure he reads today's log
[13:06] {ese} rotflol
[13:06] {dino} back in ten
[13:06] {ese} cya
[13:10] {davd} How to read JPM?  sitting at 42 for 2 days.  support or resistance at 42?
[13:10] {Threei}  so far, neither
[13:11] {Threei}  it broke it both ways during these two days
[13:11] {Threei}  so it's hasn;'t been established as support or resistance
[13:12] {davd} grthanks !
[13:12] {ese} take a swig of becomes clear after that
[13:12] {davd} great thanks
[13:12] {davd} i did already, didnt work
[13:12] {ese} are you wearing a white unkept shirt
[13:13] {davd} tshort dirty
[13:13] {ese} wipe your mouth off on the left sleeve.....see if that helps
[13:13] {Threei}  must have been wrong kind of whisky
[13:13] {Threei}  what do you use?
[13:14] {ese} now do the big growly ahhhhhhh like a gunslinger from Tucson
[13:14] {ese} does that work?
[13:19] {ese} out crox .62 +.11
[13:19] {RonS} gj
[13:20] {ese} don't know how dino does it.......300 shs at +.11 minus commisions........not enough to pay for the bottle whisky
[13:23] {ese} i wonder if economic conditions have effected hiring of gunslingers these days........probably alot of them out of work also
[13:25] {ese} anyone notice how your mind wanders when you've been staring at a screen for 4hrs
[13:25] {ese} or is it just me
[13:25] {stewy} gunslingers in crocs?
[13:25] {RonS} question for Les...
[13:25] {ese} lol
[13:27] {Threei}  gunslinger in crocs = crocs are not hungry anymore, and there is less shooting on the styreets
[13:27] {Threei}  all in all, good thing
[13:27] {ese} indeed
[13:28] {ese} teva .02 short of 53
[13:28] {ese} what a bizzaar move that was
[13:29] {RonS} not even many shorts in the stock
[13:30] {ese}  s teva sm .76
[13:30] {RonS} Israeli's run amok?
[13:30] {ese} there will be now
[13:34] {dino} es, 300 sh trade minimum gain looking at .40
[13:34] {ese} for teva
[13:35] {dino} i did not trade it, but for any 300 trade i want at least +.40 on it
[13:35] {ese} ahhhhhh
[13:35] {ese} too much whisky on my part....couldn't think that through
[13:35] {dino} try to grind out 500-600 a day
[13:36] {dino} i cannot stomach the trade size you do.
[13:36] {ese} i admire the way you do it
[13:36] {dino} works for me, but of course thousands of ways to trade
[13:38] {ese} i think teva's going to die here and i'm going to add more to it
[13:39] {dino} where you in
[13:39] {ese} .76
[13:45] {ese} dn you know you want to do it
[13:48] {ese} harder to understand the price action.......
[13:49] {ese} why would this even be hovering here .70 /.75
[13:49] {ese} it went up stupid
[13:50] {ese} no connection to reality
[13:50] {ese} dino do you sh much
[13:51] {dino} y
[13:51] {dino} i like to short euphoric spikes
[13:51] {ese} like this
[13:52] {dino} its holding too well, needs break of .50 imo
[13:52] {ese} am agreeing
[13:52] {dino} 'or spike it to 53.50 area
[13:53] {ese} hmmmmmm
[13:53] {dino} have to go to scalp mode soon, nothing moving much
[13:56] {ese} ok i'm out .81 -.05
[14:15] {RonS} oil futes at 91.51...thanks Ben...
[14:16] {Threei}  he is a world savior
[14:17] {dino}  yeah...right
[14:22] {ese} well you were right about teva dino.......that think does not want to colapse
[14:23] {dino} yes, stubburn
[14:24] {RonS} a Swiftian review of the movie "Gulliver's Travels":
[14:34] {stewy} oh no, more 3D movies?
[14:34] {Threei}  IMO, total fad
[14:35] {Threei}  will pass in a few short years
[14:35] {stewy} hope so
[14:35] {stewy} they put me in
[14:35] {stewy} a stupor
[14:36] {Threei}  oh... that's why I can't see a difference between watching 3D movie and the rest of my life
[14:43] {ese} L zion .71
[14:47] {stewy} teva looking tired
[14:52] {dino}  hl s teva .65
[15:01] {ese} out zion .78
[15:04] {dino} teva won't drop
[15:30] {ese} L zion .71
[15:39] {dino}  xoma
[15:41] {ese} have not got a screen to catch that before the fact....drives me crazy
[15:42] {ese} what are you using dino
[15:42] {Threei}  stocks under 10 moving up caught it ese
[15:42] {Threei}  you don't have it?
[15:42] {dino} my own .07 scanner
[15:43] {dino} plus top tens
[15:44] {ese} intelliScan
[15:44] {Threei}  dio you have that wiondow I mentioned?
[15:45] {ese} just looking for it now
[15:45] {Threei}  Bullish Stocks Under 10 Moving Up
[15:45] {dino} es, i don't have intelliscan, use cyber w/tweaks
[15:46] {ese} got it.......will try using it vad....any particular setting you use
[15:46] {Threei}  no
[15:48] {ese} out zion .75 +.04
[15:48] {ese} have been hitting this 3k at a time
[15:49] {dino} nice
[15:50] {ese} it's a living
[15:51] {stewy} .
[15:51] {ese} am outta here for the day all......cya tomorrow morning for a short time
[15:52] {RonS} have a good weekend all
[15:52] {stewy} thot all mkts closed 2moro
[15:52] {Threei}  thank you all, merry christmas
[15:52] {ese} cya ron
[15:52] {Threei}  have a great relxing wekend
[15:52] {Threei}  see you all on Monday
[15:52] {ese} you to vad
[15:53] {stewy} thnk you 3i enjoy.
[15:53] {dino} cya vad, merry xmas
[15:53] {stewy} happy holidays everyone.
[15:53] {dino} merry xmas all, have fun
[15:54] {larisa} merry christmas all!
[15:54] {davd} good holiday!