Apr 23 2010

Despite somewhat rough start with two small stops on HBAN and FITB, we continued strong with 20 cents win on MGM, nice trade on SKS and whole bunch of scalps on both sides (mostly long though). All in all, good end to a good week. Have also a look at the new partnership we have just forged: http://www.realitytrader.com/blackboxforex.html

Session Time: Fri Apr 23 00:00:00 2010

[08:18] {magoo} morning

[08:18] {magoo} mm

[08:19] {nemo} mm

06[08:23] * magoo slaps Threei around a bit with a large trout

[08:23] {magoo} wake up vad

[08:24] {Threei} okay okay...

[08:24] {Threei} (GR) Greece Fin Min Papaconstantinou: Need to activate aid was due to recent EuroStat revision to the 2009 deficit/GDP ratio and sovereign downgrade by Moody's

[08:24] {Threei} - Say first tranche will be available before May 19

[08:25] {Threei} SP) Spain Deputy PM: Greece request is positive news; Spain cabinet to approve Greek aid

[08:25] {Threei} but of course

[08:25] {magoo} amzn wild last nite ill tell ya

[08:25] {Threei} PALM Pre-market volume attributed to reports that HTC has decided against a bid, with Lenovo emerging as a more credible acquirer

[08:25] {Threei} - Lenovo rumored to be bidding approx $1.3B (current Palm market cap $820M

[08:26] {Threei} Amazon.com Inc Reports Q1 $0.67 v $0.61e, R $7.13B v $6.9Be

[08:26] {Threei} - Guides Q2 Revenues R $6.1-6.7B v $6.4Be

[08:36] {Threei} GR) German CDU: Waiting for IMF-Greek aid discussions to end; To legislate for aid after discussions

[08:36] {Threei} US) MAR DURABLE GOODS ORDERS: -1.3% V 0.2%E; EX TRANSPORTATION: +2.8% V 0.7%E

[08:39] {Threei} GR) PIMCO's El-Erian: Greece is only an early indicator of a general trend we will be seeing more of, expects Treasuries to gain further as investors seek safe havens

[08:40] {Threei} - The Greek crisis will continue to drive capital flows within Europe and between Europe and the rest of the world.

[08:47] {Threei} earlier news, but interesting to read the way they put it in words

[08:47] {Threei} *(GR) GREECE ASKS TO FORMALLY ACTIVATE EU/IMF RESCUE PACKAGE

[08:47] {Threei} - Was of imperative importance to activate the rescue package.

[08:47] {Threei} - PM says Greece's "ship was ready to sink" and was exposed to speculators.

[08:47] {Threei} - Greece will not allow market's speculators to threaten sacrifices made by Greek people.

[08:47] {Threei} - Markets did not respond to EU Summit anounce on support package and have not given the country enough .

[08:47] {Threei} - Hopes decision will bring "safe harbour," Greece has taken painful measures to regain credibility.

[08:47] {Threei} - Will reach our target, to ask the Finance Ministry to formally begin the aid process.

[09:01] {Les} alcohol and antihistimines - the only way to fly during pollen season

[09:02] {Threei} why do you need to fly... if you were intended to you 'd be given wings

[09:02] {Les} i feel like crap, but don't let that spoil everyone else's day. Good morning

[09:02] {Threei} hi

[09:02] {Threei} lol

[09:03] {Threei} btw, yesterday when you decided to leave, we decided you can't

[09:03] {Les} what is this - democracy?

[09:04] {Threei} [13:37] {Threei} I vote against Les leaving

[09:04] {Threei} [13:38] {jfjf64} me tooooooooooooooooooo

[09:04] {Threei} [13:38] {dptl} ye...no slakers :)

[09:04] {Threei} [13:38] {Threei} really

[09:04] {Threei} [13:38] {Threei} fern is in the same time zone, and look - still suffers here with us

[09:04] {Threei} [13:38] {Threei} nopt even speaking of vasilisa

[09:04] {Threei} [13:39] {fernp} true

[09:04] {Threei} [13:39] {Threei} who has 8:40 pm in her neck of the woods

[09:04] {Threei} [13:39] {dino} 1:40 here

[09:04] {Threei} [13:40] {Threei} 10:40 am here

[09:04] {Threei} [13:40] {shorty} 11:40

[09:04] {Threei} [13:41] {Threei} patience, I can't even begin to calculate her time right now

[09:04] {Les} Or are you setting global precedence for tyrannic rule by decree?

[09:04] {Threei} see? voting

[09:04] {Threei} so yeah, democracy

[09:04] {ese} gm

[09:05] {Threei} ese :)

[09:05] {Les} well I can leave mibbit running but will walk away anyway when I have profit target - if that makes you feel better

[09:05] {ese} hey vad

[09:06] {Threei} just give some signal that you are still suffering with us, and we will be more than happy :)

[09:06] {ese} following anything in particular

[09:06] {Les} ha. just being here tells you I'm suffering ;)

[09:06] {Threei} not really

[09:06] {Threei} most of stocks are move together so far

[09:06] {Threei} don't see anything outstanding

[09:07] {nemo} Is Les Leaving ????

[09:07] {Threei} so it's uisual suspects at this point

[09:07] {Les} yeh had enough of your antics nemo

[09:07] {Threei} lol

[09:07] {nemo} wow, Xmas comes early

[09:07] {Threei} pipe down nemo, that was simply his exit for the evening yesterday :)

[09:08] {ese} dude

[09:08] {Threei} AMAN

[09:08] {Threei} AMZN

[09:08] {nemo} well, that ruins my day

[09:08] {Threei} sudden spasm of happiness

[09:09] {nemo} yeah, turned into diarhhea

[09:09] {Threei} lol

[09:10] {Threei} yeah yeah, you both say so... yet Les was unfocused and almost lost on nemo's day off, and nemo has no drive at all when Les is not here

[09:10] {magoo} aig active'

[09:10] {nemo} now you're slinging it

[09:10] {Threei} and I can't imagine what I'd do if you both took day off

[09:10] {Les} Acura Pharma (ACUR) -40% after an FDA panel voted 19-1 against its Acurox painkiller, designed to discourage misuse. The drug uses niacin, which would cause irritation and flushing if patients take excessive doses, but panelists noted the negative effects could be eliminated by eating food or taking aspirin.

[09:11] {Les} you gotta love human beings. smarter than the average pharma...

[09:11] {Les} acur looks like a dino candidate

[09:11] {Threei} GR) German Deputy Fin Min: Speculation about restructuring in Greece is misplaced

[09:11] {Threei} GR) ECBs Weber: Greece is no strong challenge for Euro stabili

[09:12] {Threei} of course not

[09:12] {fernp} Good morning everybody

[09:12] {Threei} fern :)

[09:12] {Threei} (EU) ECB's Nowotny: Aid for Greece should shield other countries from contagion; blames rating agencies for the worsening of the financial crisis

[09:12] {Threei} yesss!!

[09:12] {Threei} that's who caused it all

[09:13] {Les} are these blogs archived long term vad?

[09:14] {Threei} yes

[09:14] {Les} cool

[09:14] {Threei} you can track room logs to the day we started them

[09:14] {Les} I think I could write a book on this place

[09:14] {Threei} 2007 I think

[09:14] {Les} the people in it and the silly BS we are fed by officials every day

[09:14] {Threei} well, since I have copyright on them, you can - but I'll demand my cut

[09:14] {dptl} good morning

[09:14] {Threei} dp :)

[09:14] {Les} ouch

[09:16] {dino} gm all, want to freak out, look esi

[09:16] {Threei} dino :)

[09:16] {RonS} gm all...wondering if ACTG might have some legs...

[09:16] {Threei} ron :)

[09:16] {Les} rewatching Band of Brothers. Damn, you wanna talk sacrifice, there it is. Greek people don't know meaning of the word

[09:16] {dino} good series, pacific is good too

[09:17] {Threei} uh oh

[09:17] {Threei} here goes:

[09:17] {Threei} (SP) Spain Fin Min Salgado: There is no risk of contagion for Spain

[09:17] {dino} bucy blood

[09:17] {dino} lol spain, sounds familiar

[09:17] {RonS} esi move off dv report and reaction

[09:17] {lasertrev} morning

[09:18] {Threei} trev :)

[09:18] {dino} cyber shows last at 16 -96.69, bad print

[09:18] {Threei} ACTG esrning are quite spectacular:

[09:18] {Threei} Acacia Research Corporation Reports Q1 $0.55 v $0.02e, R $40M v $17M y/y

[09:19] {Threei} fern, do you feel like bailing out Greece?

[09:19] {Threei} well, no one bothered to ask you I or any other citizen guess:

[09:19] {Threei} SP) Spain Econ Min: Spain's contribution to aid package is maximum of 3.67B

[09:20] {Les} wow esi is back in play

[09:21] {Threei} what's the problem with it?

[09:21] {Threei} earning and guidance look OK

[09:21] {Threei} Reports Q1 $2.46 v $2.28e, R$384M v $373Me; Guides FY10 higher to $10.50-11.25

[09:21] {Threei} - New Student Enrollment 23.1K v 19.5K q/q

[09:21] {Threei} - Continuing Students 61.5K v 61.2K q/q

[09:21] {Threei} - Total Student Enrollment 84.6K v 80.7K q/q

[09:21] {Threei} - Raises FY10 EPS $10.50-11.25 v $10.40e

[09:22] {shorty} good morning all

[09:22] {Threei} shorty

[09:22] {Les} KEY has a .20 break that is promising

[09:23] {gen} gm all

[09:23] {Threei} gen :)

[09:25] {RonS} syna 13 mil short, 45% of float

[09:26] {dino} 108 area esi has been bounces

[09:30] {Threei} watching HBAN

[09:32] {magoo} 2 pt candle amzn

[09:32] {Threei} Long Setup: FITB 15 break if stays above .95

[09:33] {Threei} Long Setup: HBAN .15 break

[09:34] {Threei} FITB not a scalp for me if sets up

[09:36] {Les} KEY

[09:37] {Threei} no rinsing FITB

[09:38] {Threei} grrr

[09:38] {fernp} stopped FITB

[09:38] {nemo} stop on hban?

[09:39] {Threei} under .10 for scalpers, .05 for day traders

[09:39] {fernp} HBAN stop, Vad?

[09:40] {magoo} yup

[09:40] {magoo} COF vad

[09:41] {Threei} .50 break COF... risky as hell

[09:42] {Threei} LVS

[09:42] {nemo} fas breaking down finanacials are junk for now

[09:44] {Threei} market losing ground

[09:44] {Threei} out HBAN

[09:45] {Les} stopped .13 moved over to the dark side .09

[09:45] {fernp} stopped HBAN

[09:46] {Threei} MGM

[09:47] {ese} xrx xerox beats

[09:47] {Threei} Long Setup: MGM .20 break if stays above .10

[09:47] {KSystems} morning

[09:47] {Threei} ks :)

[09:48] {Threei} invalidated

[09:49] {dino} idxx

[09:49] {shorty} My wife works for IDXX

[09:49] {Les} and you couldn't give us a heads up this morning shorty!

[09:50] {shorty} sorry

[09:50] {Threei} US) Preview: March New Home Sales due out at 10:00ET

[09:50] {Threei} **consensus expectation: 325Ke v 308K prior

[09:50] {Threei} - most estimates range between 310K and 340K

[09:52] {Threei} MGM setup is back

[09:52] {ese} L gild .03

[09:53] {dino} dv

[09:53] {nemo} in

[09:53] {Threei} both LVS and MGM look like runners

[09:53] {nemo} that would be nice

[09:53] {Threei} LVS broke out

[09:54] {ese} i'm in mgm

[09:55] {nemo} what's the stop mgm .10?

[09:56] {Threei} yes

[09:56] {Threei} wth... am I havng one of those days?

[09:56] {Threei} and Fri again

[09:57] {Threei} maybe someone up there is telling me I need to go to 4 days working week {G}

[09:57] {Threei} LVS new high again

[09:57] {Threei} come on already MGM

[09:58] {dino} cs sm .65 l

[09:58] {dino} apol sm l .50

[10:00] {Les} hban stopped

[10:00] {Threei} US) MAR NEW HOME SALES: 411K V 325KE (% M/M

[10:01] {jfjf64} len tkin off

[10:02] {magoo} early rinse vad, hban cof

[10:02] {magoo} fitb

[10:02] {Threei} yes

[10:02] {ese} out gild .33 +.30

[10:02] {shorty} nice ese

[10:03] {Threei} stop to under .15 MGM

[10:03] {ese} tks

[10:03] {Threei} 1:1 finally

[10:03] {Threei} make up your mind

[10:03] {fernp} ty Vad

[10:04] {Threei} me half

[10:04] {Threei} and stop to .19

[10:04] {Threei} me greedy

[10:04] {ese} out mgm .32 +.10

[10:04] {Threei} 25K little buggers

[10:05] {ese} tks vad

[10:05] {Les} half out .33. resistance .45

[10:05] {ese} no 3k

[10:05] {shorty} ty Threei.

[10:05] {ese} one must not be greedy

[10:05] {nemo} shwere's stop now on mgm?

[10:05] {Threei} well, what one to do if one is stupid...

[10:06] {shorty} CIEN THreei?

[10:06] {Threei} [10:04] {Threei} and stop to .19

[10:06] {Threei} CIEN pullback entry hunt is around .85

[10:07] {shorty} ty

[10:07] {Les} you been taking stupid pills Nemo, or you just wanna be like me?

[10:07] {Threei} MNKD Follow-up Safety Data Show AFREZZA Comparable to Standard Antidiabetic Therapy in Lung Function Tests

[10:07] {nemo} the meds suppressing my travelling/homicidal tendencies need rebalancing

[10:07] {Threei} rofl

[10:07] {Les} hehe

[10:08] {shorty} lol

[10:08] {magoo} no quotes on roflol vad

[10:08] {Threei} I have an interesting feeling, you two would be the best drinking buddies should we meet for a party

[10:08] {Les} esi 111 break

[10:08] {nemo} Yeah...I just keep looking at my passport

[10:08] {Threei} it's pink sheets, mags

[10:09] {magoo} ah, the xtra symbol :)

[10:10] {Les} l esi .00

[10:12] {Threei} 1:2, 1/4 more out

[10:12] {Les} all out .39 ty

[10:12] {Threei} me still greedy

[10:12] {shorty} greed is the blood of the economy

[10:12] {Threei} G.Gekko voice in my head

[10:13] {Les} spy rolling over

[10:13] {magoo} thats my voice..im greedIEST

[10:13] {Les} out esi .33 +.33

[10:13] {Threei} oops...

[10:13] {Les} ouch too early

[10:13] {Threei} so that was you all these years whispering in my ear "stop with all that risk control nonsense, buy it all and close your eyes"??

[10:14] {Les} I've made my daily quota. can I leave now?

[10:14] {Threei} NO!!!

[10:14] {dino} idxx sm s .75

[10:14] {Threei} we voted on that yesterday

[10:14] {Threei} stay and suffer!

[10:14] {shorty} You show off Les.

[10:15] {Threei} IDXX Exec: received subpoena from FTC regarding marketing; investigation is in early stages -conf call comments

[10:15] {shorty} b/o .86 FITB?

[10:15] {nemo} His daily quota is 2 litres of beer

[10:15] {Threei} MGM stop to .25 for the last piece

[10:15] {Threei} no shorty

[10:15] {shorty} ty

[10:15] {Threei} not the sector in play so far

[10:16] {Les} it's not much shorty. Being modest in profit targets for 1st year (real money) tradiung

[10:16] {dino} mos sm l .50

[10:16] {shorty} I was kidding Les. I am just jeleous.

[10:17] {shorty} jealous

[10:17] {Les} don't be. I am learning to back off with much more modest profits than what I imagined when I first came to vad

[10:17] {RonS} aig on a trend...

[10:18] {Threei} les, those will come too, it's simply a matter of walking before running

[10:18] {Les} bingo

[10:18] {Threei} oh dino, this beauty was posted before you came in today, I must repost it for you

[10:18] {shorty} I thought the same Les. The market kicked that thought out the window in a hurry.

[10:19] {Threei} you know who caused Greece crisis, right?

[10:19] {Threei} in case you don't:

[10:19] {shorty} magoo?

[10:19] {nemo} speculators

[10:19] {Threei} - PM says Greece's "ship was ready to sink" and was exposed to speculators.

[10:19] {Threei} - Greece will not allow market's speculators to threaten sacrifices made by Greek people.

[10:19] {Threei} those bastards...

[10:19] {Threei} all humanity problems are their doing

[10:20] {Threei} out last part MGM

[10:21] {ese} L uaua .08

[10:21] {dino} stopped idxx -.30

[10:21] {gen} LVS short +.41

[10:21] {Threei} DCTH Hearing takeover chatter in name (13.18, +0.25, 1.93%)

[10:21] {gen} done for today

06[10:21] * Threei slaps gen around a bit with a large roll of cash

[10:22] {gen} see you all

[10:22] {gen} bye

[10:22] {Threei} take care gen

[10:22] {Threei} that's what they call vene vidi vici I guess

[10:22] {fernp} bye gen

[10:22] {ese} cya gen

[10:22] {dino} cya and gj gen

[10:23] {shorty} bye gen

[10:23] {jfjf64} sndk monster

[10:23] {Les} How's that for blatant favouritism!

[10:23] {Les} Gen walks, and no one bats an eyelid

[10:23] {Threei} well Les, two things

[10:24] {Threei} one, he is from deeply frozen part of the world

[10:24] {Threei} he deserves some slck

[10:24] {shorty} lol

[10:24] {dino} wheres he from?

[10:25] {Threei} winnipeg

[10:25] {Les} isn't that in Mexico?

[10:25] {Threei} and second.. there is an old joke about the guy who heard from a neighbor that he ate pork despite rabbi strict prohibition

[10:26] {Threei} guy went to rabbi to demand permission,

[10:26] {Threei} and when told no asked how come my neighbor does it but I can't?

[10:26] {Threei} answer as you may have figured out already was:

[10:26] {Threei} see, he never asked me!

[10:26] {Les} ugh

[10:27] {nemo} like fdx break of .50?

[10:27] {Threei} see gen asking us whether he can leave?? :)

[10:27] {Les} not going there

[10:27] {Threei} yes hemo, but halt lot

[10:27] {Threei} volatile one

[10:27] {nemo} I'm not blood

[10:29] {nemo} invalimudated

[10:29] {ese} stoped uaua ..03 -}05

[10:30] {Threei} Reportedly G20 seeing large resistance to proposed bank levy

[10:30] {Threei} *note: Canada has been reported over the past few weeks as being opposed to such a measure

[10:32] {dino} f'ng idxx rinsed me and drops a buck

[10:32] {Les} syna .50 b/d?

[10:32] {Threei} probably

[10:32] {Threei} half lot

[10:35] {nemo} nice on syna, jumped right past my order

[10:35] {Les} scalped for +.12

[10:35] {Les} ty

[10:36] {Threei} GE) German Fin Min: expect to meet with German lawmakers on Greece aid on April 26

[10:37] {fernp} XRAY breakout, Vad?

[10:37] {dino} out cs .85, +.20

[10:37] {Threei} I'd really prefer a pullback entry fern

[10:37] {fernp} ok

[10:42] {fernp} CY breakdown, Vad?

[10:43] {Threei} yes, if stays under .05

[10:43] {fernp} ty

[10:43] {nemo} bog offer .02

[10:45] {dino} dv sm l .99

[10:45] {dino} idxx sm s .75

[10:49] {dino} dv stopped

[10:49] {Threei} PFE FDA posts warning letter on inspection of facility; released 4/9

[10:50] {Threei} can't tell the most likely markjet direction for now

[10:52] {Les} s esi .47

[10:53] {Threei} CY 1:1

[10:53] {fernp} 1:1 CY ty Vad

[10:53] {Threei} good spot fern

[10:53] {Les} dino, your read of esi please. db?

[10:54] {Les} or death

[10:54] {Threei} lol

[10:55] {dino} esi coin toss

[10:56] {Les} ok

[10:56] {dino} watch dv, esi, apol together for sign les

[10:57] {dino} i suppose break of .50 esi l

[10:57] {dino} dv moves up

[10:57] {Les} out flat. yes agreed

[10:58] {Threei} Les, remember that article you linked recently, by former convict, about mechanics behind the Fri announcement of SEC case?

[11:00] {Threei} he iehter doesn't remember or just ignores me :)

[11:01] {Les} I do have a life away from the screen vad

[11:01] {Les} sure I remember

[11:01] {Threei} good for you

[11:01] {Les} :P

[11:01] {Threei} so I had a thought (and yes, it gurt)

[11:01] {Threei} hurt

[11:01] {Threei} if he is right, and if SEC plans other suits against other banks,

[11:02] {Threei} Fridays may be come announcement days

[11:02] {Les} fas/market should be telegraphing us that signal

[11:04] {ese} Lstx .49

[11:05] {Les} some really choppy action in finnies today

[11:05] {Les} bear meat grinder

[11:05] {magoo} 6 point pllbk amzn vad

[11:05] {magoo} was 140 afterhours

[11:06] {Threei} mags

[11:06] {Threei} GS

[11:06] {Threei} short

[11:06] {Threei} 159 break

[11:09] {magoo} AMZN read vad??

[11:09] {RonS} kindle

[11:09] {dino} esi db now imo

[11:09] {Les} ok

[11:10] {nemo} mos dino

[11:11] {Threei} one more pullback AMZN, and should become long around .30 - .40

[11:12] {Les} gs long here?

[11:12] {Threei} GS short never triggered and invalidated now, but long becomes a play, yes

[11:12] {Threei} .53 offer break probably

[11:13] {dino} mos in its own world today, pot up, cagc up

[11:16] {Threei} .36 bottom for the pullback

[11:17] {Threei} 11:11] {Threei} one more pullback AMZN, and should become long around .30 - .40

[11:17] {Threei} how's that for precision?

[11:17] {Threei} magoevski

[11:17] {Threei} you got it?

[11:18] {magoo} no, no bullets

[11:18] {magoo} took cof

[11:18] {Threei} ok, let me hget this straight

[11:18] {Threei} you yell at me

[11:18] {Threei} I drop everything

[11:18] {Threei} wake up

[11:18] {fernp} HD vad? any read?

[11:19] {Threei} worth a try fern

[11:19] {Threei} start reading AMZN

[11:19] {Threei} hurt my eyes with that goshdarn kindle thingy

[11:19] {Threei} find an amzingly precise entry point in advance

[11:19] {dino} out esi .47, +.47 ty les

[11:20] {Threei} removed about 50 cents from where AMZN was at the moment

[11:20] {Threei} and you ignore it

[11:20] {Threei} that's it

[11:20] {Threei} I am removing myself from the cruel world

[11:20] {Threei} going to Tobet monastery

[11:20] {fernp} HD stop is .15 or .10, Vad?

[11:20] {dino} gun to the head?

[11:20] {fernp} took .20 break

[11:21] {Threei} both are valid fern

[11:21] {fernp} ty

[11:21] {Threei} no dino, just using it as an excuse to drink with monks for a few months

[11:24] {jfjf64} see all later

[11:24] {jfjf64} nice week vad

[11:25] {Threei} take care jf, have a good weekend

[11:25] {Les} gs 159

[11:26] {dino} cya jf

[11:30] {Les} HBAN looking ready for a break. can't see which way

[11:32] {Les} gs b/d now?

[11:32] {Les} .90?

[11:32] {fernp} HD no go

[11:37] {dino} idxx bstop to .44

[11:38] {Les} dino, read on dv please?

[11:38] {dino} cov +.30

[11:39] {magoo} l amzn cross of .50 risky

[11:41] {magoo} never mind

[11:43] {dino} down

[11:44] {Threei} ABIO

[11:44] {Threei} ARCA Biopharma Hearing strength being attributed to chatter that they received approval for SPA (timing uncertain)

[11:44] {Threei} - SPA is special protocol assessment for the design of a clinical trial to assess the safety and efficacy of Gencaro.

[11:45] {dino} ctsh sm l .10

[11:45] {fernp} FULT if breaks .60, Vad?

[11:45] {dino} dv les, looks like dead varmit

[11:45] {Threei} I like it... .63 yesterday's and 52 week high

[11:46] {fernp} ty

[11:46] {Les} yeh thought it would hold 69

[11:47] {dino} gap below around 65

[11:48] {dino} gets close, it it

[11:48] {dino} hit it

[11:51] {Threei} ABIO got away big time

[11:52] {shorty} CIEN nearing .82

[11:55] {dino} cqp

[11:56] {fernp} RHI Vad? you like it?

[11:56] {Threei} chart is right but they all stalled

[11:57] {Threei} see how FULT doesn't dio anything

[11:57] {Threei} market is frozen

[11:57] {fernp} yes. true, ty

[11:59] {Threei} well, I was unfair to FULT

[12:00] {Threei} just 15 min later it's up 3 cents

[12:00] {ese} so far so good stx

[12:01] {Threei} I mean 5 cents

[12:01] {Les} half out .66

[12:01] {fernp} my stop is under .53

[12:04] {Threei} Merck & Co Inc Sees impact from healthcare legislation; expects $150M charge in Q1; affirms target for high single digit EPS growth for 2009-2013

[12:04] {Threei} - The more significant changes and improvements to coverage and access begin in 2014. Many companies will begin to incur costs related to the Health Care Reform legislation starting in 2010. These costs include increased Medicaid rebates and a one-time non-cash charge related to taxes on post-retirement medical benefits.

[12:04] {Threei} - Accordingly, in the first quarter of 2010, Merck anticipates that Medicaid rebates and other impacts will reduce revenue by approximately $35M

[12:05] {Threei} For the full year 2010, Merck anticipates that the increased Medicaid rebates (including Managed Medicaid) and other impacts will reduce revenue by approximately $170M, which includes the first quarter impact of $35M mentioned above.

[12:05] {Threei} - estimates that the unfavorable sales impact related to the passage of this legislation, in 2011 will be approximately $300-$350M.

[12:06] {Threei} so, on a surface plan works - there is a wealth redistribution from companies to people

[12:06] {Threei} in reality I suspect it won't

[12:06] {Threei} either companies simply add the cost to their prices

[12:06] {Threei} thus triggering next inflation wave

[12:07] {ese} out stx 1/2 .64 +.15

[12:07] {Threei} or they don't for this or that reason, and it results in job loss

[12:07] {shorty} with higher interest rates?

[12:07] {Threei} ?

[12:07] {Threei} sorry, lost me

[12:07] {shorty} inflation wave?

[12:07] {Threei} what;s the connection?

[12:08] {Threei} they pay more in benefits, they injcrease prices - classic inflation spiral

[12:08] {ese} out in full +.12 second 5k

[12:09] {Threei} wtg ese

[12:09] {Threei} imagine simplified scheme:

[12:09] {ese} tks.....waited on it and was averaging in below .50

[12:09] {Threei} there is just one company and 10 workers, they are also buyers of company's product

[12:10] {Threei} company sells item for 100 bucks and pays 50 to workers, 5 a head

[12:10] {Threei} something eats into company's bottom line

[12:10] {Threei} in this case this something is payout to workers

[12:11] {Threei} instead of 50 it has to pay 80, 8 a head

[12:11] {Threei} company adds 30 to product cost

[12:11] {Threei} so now it's 130, payout is 80

[12:12] {Threei} nothing changed except a step is made in inflation

[12:12] {Threei} independently of interest rates

[12:12] {shorty} that was a nice explanation

[12:13] {Threei} FED monetary policy justifiers made everyone believe interest rates is the only factor and lever in inflation

[12:13] {Threei} end all be all

[12:13] {Threei} it's far from truth

[12:13] {RonS} ...and government excludes the company from "official" inflation, so there is none

[12:13] {shorty} If you have an explanation for why interest rates go up to slow inflation that would be great, or I can google it.

[12:13] {Threei} well, the idea is:

[12:13] {Threei} there is cost to money

[12:13] {shorty} interesting RonS.

[12:14] {Threei} since economy is based on borrowing

[12:14] {Threei} you provide cheap money - demand increases

[12:14] {shorty} demand increases

[12:14] {Threei} you want to cool demand down - you increase rates

[12:14] {shorty} got it.......

[12:14] {shorty} ty

[12:15] {Threei} fine in thoery

[12:15] {Threei} in practice, ever since Fed came into existence, inflation eliminated bout 95% of dollar cost

[12:15] {Threei} 1913 dollar is about 3-5 cents of today's

[12:16] {Threei} ummm... other way around, lol

[12:16] {shorty} a lot of things look good on paper, but don't necessarily work once applied.

[12:17] {Threei} yeah... russian saying, hard to translate somewhat... "Smooth ride on papermap, too bad there are chasms in the ground"

[12:17] {shorty} dino, ZION reversal here? at resistance.

[12:18] {Threei} dptl will help with better tanslation when puts down that galss with vodka

[12:18] {shorty} i like that saying Threei.

[12:18] {RonS} ...running FIG

[12:20] {RonS} IYR tops 52 wk high today

[12:20] {Threei} another important thing to remember about inflation as far as its impact on us goes:

[12:21] {Threei} inflation is not necessary universal, in a sense of spread evenly

[12:21] {Threei} if computers ad DVD players and big screen TVs got cheapr but drugs got more expensive,

[12:21] {Threei} impact on you will depend on whether you are 25 or 75

[12:22] {shorty} Thanks for the lesson guys. It's a lot more clear now.

[12:22] {dino} zion dk

[12:22] {fernp} 1:1 FULT

[12:23] {fernp} ty Vad

[12:23] {Threei} :)

[12:23] {Threei} and then there is galloping inflation if things go to hell in a handbasket, and currency loses its value in 1000%

[12:23] {Threei} for the most of civilized world it's pure theory

[12:23] {shorty} That is when I head for the hills

[12:23] {Threei} but I witnessed it and let me tell you,

[12:23] {Threei} when you see an old man who put away 10K roubles by saving his whole life

[12:24] {Threei} when a car cost 5-6K

[12:24] {Threei} looking at the shelf where a box of matches sits

[12:24] {Threei} with price label 25K

[12:24] {Threei} you don't laugh

[12:24] {Threei} this is life destruction, pure and simple

[12:25] {shorty} wow.....I have been pampered my whole life. I used to cry because I didn't get frootloops, but instead got cheerios for breakfast.

[12:26] {RonS} ...but let's not talk about yesterday Shorty...

[12:26] {nemo} notice for all these "good" earnings announcements, the market really isn't moving

[12:26] {shorty} lol

[12:26] {Threei} yes nemo but it dodn't drop on a day when most earning were bad either

[12:27] {RonS} sks winding up, see a play here 3i?

[12:27] {Les} 2nd half out fult ty fern

[12:27] {Threei} it opened down and recovered

[12:27] {Threei} SKS runs with retailers strength...

[12:28] {Threei} is there clear leader in that sector?

[12:28] {Threei} not that I see right away

[12:28] {Threei} I like chart Ron

[12:29] {RonS} been a laggard but w/ 42% of float shrot just thinking that a squeeze here

[12:29] {Threei} I am not sure it's a right time for this chart

[12:29] {Threei} but the risk is minimal if it breaks from here

[12:29] {Threei} so why not

[12:29] {Threei} both daily and intraday are beautiful

[12:30] {RonS} sks serious squeeze could mark a retail top. But the real story in the dicretionary run has been the casual diners. Look at things like cmg and cake...sheesh

[12:32] {magoo} read FCX vad??

[12:32] {Threei} none

[12:35] {ese} I'd like to reiterate nemo's comment about the mrkt not moving much on good earnings announcement....plus it seems to me that stocks are trading a litte thinner

[12:36] {ese} L gild.17

[12:40] {Les} ESI setting up

[12:43] {Threei} lol, got bored with waiting and set up automated entry for SKS, to experiment with it

[12:43] {Threei} worked like charm

[12:44] {Threei} set stop limit with .85 trigger, .86 chasing

[12:44] {Threei} got me in at .85 after fitst print at that price

[12:45] {Threei} who wants this kind of things, OMS module works perfectly on Laser

[12:45] {Threei} MNKD Hearing Rodman Renshaw makes positive comments (timing uncertain)

[12:45] {Threei} Note: Earlier MNKD released information showing Follow-up Safety Data on AFREZZAComparable to Standard Antidiabetic Therapy in Lung Function Tests

[12:47] {fernp} SKS stop is under .80, no Vad?

[12:48] {Threei} for scalp, yes

[12:48] {Threei} cute little C&H

[12:48] {fernp} ty

[12:48] {Threei} if want a trade based on daily strength, short squeeze etc, suopprt is 9.70

[12:49] {Threei} and for a swing trade, 9.50

[12:49] {fernp} is friday... .79 is my stop :-)

[12:49] {Threei} can't blame you :)

[12:49] {Threei} just providing reads for all possible types

[12:50] {Threei} and we have a few impossible here

[12:50] {fernp} i know

[12:50] {Threei} (fern slants at les and nemo)

[12:50] {fernp} lol

[12:51] {Les} huh my name mentioned?

[12:53] {Les} out esi +.26

[12:54] {fernp} MOS 53.10 break, vad?

[12:55] {Threei} chart is perfect

[12:55] {Threei} with clear sailing for 30 cents at least

[12:55] {Threei} if nly market helps

[12:55] {fernp} 53.05 break is valid too?

[12:56] {Threei} I'd prefer .10

[12:56] {Threei} a lot of nasty orders there

[12:56] {fernp} ok

[12:57] {Threei} EUR/USD (FR) France Fin Min Lagarde: Greece aid package should stabilize the Euro; all members in favor of a stable Euro as volatility is 'not good'

[12:57] {Threei} neither are those damn speculators

[12:57] {Threei} they strive on that damn volaitlity

[12:57] {Threei} if only we could drown them all

[12:59] {Threei} SKS baby

[12:59] {fernp} stop under 53 or .95, Vad?

[12:59] {Threei} 53

[12:59] {fernp} ty

[12:59] {Threei} pesky scalpers got 1:1 SKS

[13:00] {Threei} nice spot Ron

[13:00] {Threei} and fully automated trade for me via OMS

[13:01] {RonS} yw

[13:02] {fernp} ty for SKS Ron. out here

[13:02] {Threei} FDIC's Bair: new resolution authority will make it clear to markets that there will be no more govt bailouts - CNBC interview

[13:02] {Threei} really?

[13:03] {Threei} heh

[13:03] {Les} aig looking for hod

[13:04] {RonS} ...until there are no bailouts on big fails the amrket will think there will be bailouts...what planet is she on?

[13:04] {Threei} amazing,... real problem (overleveraged bad loans) is totally substituted by fake one (damn derivatives)

[13:04] {nemo} It's like GM paying back their debt

[13:04] {nemo} all BULLSHIT

[13:04] {nemo} TAURINE EXCREMENT...sorry

[13:04] {Threei} right

[13:05] {RonS} quit parsing words nemo

[13:05] {Threei} to put an analogy to it,

[13:05] {Threei} derivatives is insurance

[13:05] {shorty} I thought they only have to pay a portion of it?

[13:05] {Threei} if more than certain % of insured claim their payout, insurance comoany goes belly up

[13:05] {Threei} any of them

[13:06] {RonS} ...people are so stupid...modern life and civilization itself is a derivative

[13:06] {Threei} their screams that AIG made out more best than it could cover is BS

[13:06] {Threei} any insurance comoany works like this

[13:06] {Threei} none of them can cover all its bets

[13:06] {Threei} it's and odds game

[13:06] {Threei} and = an

[13:06] {Les} esi pullback 111

[13:07] {Threei} if there were no bad loans in such overwhelming numbers, there would be no problem with deriivatives

[13:07] {fernp} MOS 1:1

[13:07] {Threei} root of the disaster is those loans

[13:07] {Les} aig .90 break?

[13:07] {Threei} good one fern

[13:07] {Threei} can't tell les

[13:07] {RonS} ...am holding for the .30

[13:08] {Threei} SKS 1:2

[13:08] {fernp} ty vad

[13:08] {dino} ed's waking up

[13:08] {dino} apol and dv sm l break of .00

[13:10] {Threei} FDIC's Bair:

[13:10] {dino} oh no

[13:10] {Threei} - says wind down authority is necessary; bankruptcy of large firms would be too abrupt for markets, noting Lehman as an example.

[13:10] {Threei} - highlights that the process for large banks will be similiar to that of what smaller banks undergo every Friday (reference to the FDIC closures released on Fridays); including removal of senior management, creditors and shareholders will deal with similiar situations of bankruptcy, secured creditors will be compensated to the extent of collateral

[13:10] {Threei} - resolution authority will require counterparties to make good on commitments (highlights this is in contrast with the Lehman failure where counterparties took out better quality collateral)

[13:10] {Threei} - expects bank failures to peak by end of this year (more than 140 for 2010, which is less than forecast three months ago)

[13:14] {RonS} rails just keep chugging

[13:16] {Threei} 60% Say Capitalism Better Than Socialism

[13:17] {Threei} and 40 % can't read

[13:17] {fernp} only 60%?

[13:17] {magoo} oh yeah..well 40% say it isnt he he

[13:17] {Threei} 18% disagree, while 21% are not sure

[13:17] {Threei} sorry... 21% can't read

[13:17] {Threei} and 18% can't make a damn cent and need someone to hand it to them

[13:18] {Threei} NUNAM

[13:18] {Threei} NUAN

[13:18] {Threei} NUAN Reportedly looses patent infringement case against Microsoft (18.17, -0.24, -1.30%) (related MSFT )

[13:18] {Threei} USD/CNY G20 communique likely to refrain some specific mention of the Yuan - unconfirmed report

[13:18] {Threei} - Communique may or may not mention Greece issue

[13:19] {nemo} rimm could be short under .60

[13:19] {dino} mos sm l .10

[13:20] {Threei} hah

[13:20] {Threei} here is interesting dichotomy confirming that most can't read:

[13:20] {Threei} However, its important to note that just 35% believe a free market economy is the same as a capitalist economy. In fact, despite tepid support for capitalism, 77% of Americans prefer a free market economy rather than a government managed economy. Thats consistent with the 75% who say that business is better at customer service than government.

[13:23] {Les} whatever. I leave you with your strange anecdotes. bon weekend a tous

[13:24] {Les} drinkies time! and a movie would be nice tonight. ciao

[13:24] {Threei} sigh

[13:24] {shorty} salut Les, bon weekend aussi.

[13:24] {nemo} feels much better already

[13:25] {Threei} you serve them one winning trade after another, and they don't want to listen to your strange anecdotes... :(

[13:25] {nemo} I neveer said that

[13:29] {RonS} ...sheesh, snowing here...poor tulips...

[13:30] {Threei} wow

[13:30] {shorty} Denver is worse than Calgary RonS.

[13:31] {RonS} ...in the Spring the lows come from the gulf and big snow can happen as the moisture hits the altitude

[13:31] {RonS} ...tomorrow will be 50 and sunny...

[13:32] {ese} i dunno about that shorty....i lived in calgary for a year and man....most days you get all 4 seasons together as well as all 3000 weather conditions at once

[13:32] {ese} every couple of days

[13:33] {RonS} popular local saying here...if you don't like the weather wait 10 minutes and it will change

[13:33] {ese} big time true for calgary

[13:34] {shorty} True ese. You lasted a year? I need to move to BC.

[13:35] {ese} taught at Senator Riley Senior Secondary in High River

[13:36] {shorty} Do you have a read for CIEN Threei?

[13:36] {ese} my wife got a job here and i followed her career

[13:36] {RonS} ...what a short name...

[13:36] {ese} have never looked back....that was 22 years ago

[13:37] {shorty} High River, every year residents pump out water because of flooding. lol I would not move to a place called High River. I have friends there.

[13:37] {shorty} Trying to get my wife to move to Victoria actually.

[13:38] {RonS} lol, and i thoought it was a river with a lot of joints...

[13:38] {shorty} lol

[13:39] {ese} also...the one and only time i thought i was going to die.......flying into calgary coming down out of the moutains.....plane hit some kind of weird air vacume and litterally dropped out of the sky a few people didn't have there seat belts on and endedup on the ceiling of the plane

[13:39] {magoo} vad, lets look for bounce plays in gs and amzn

[13:40] {RonS} dino mos is killin me. you still in?

[13:41] {shorty} ouch ese.

[13:42] {ese} i had my seat belt on......when ever i'm flying anywhere....i arrange it so that i don't land in calgary........unless it's absolutley necessary

[13:43] {shorty} Anyone see a b/o play for CIEN .08? Looks like accumulation is happening.

[13:43] {Threei} CIEN... not really

[13:43] {RonS} ...shold only happen on summer afternoons ese...

[13:43] {shorty} Calgary and Denver ese. I always have my seatbelt on whenever I fly, because of stories like yours.

[13:44] {shorty} ty Threei

[13:45] {Threei} AMZN , mags...

[13:45] {Threei} a few more min of conlsolidation

[13:45] {Threei} then break

[13:46] {Threei} no chasing, let it pull back

[13:46] {magoo} in 142.60 boss

[13:47] {ese} i would think Denver would be the same Ron......weird air currents coming out of the mountains can't make it eay for jpilots

[13:47] {magoo} thought u were blowing me off cause of last time

[13:47] {nemo} How id you pick 142.60?

[13:47] {ese} easy

[13:48] {magoo} yea...near lows..ytake .60 stop loss of .50 little risk

[13:48] {magoo} clrity, stop is the loss of .50

[13:48] {ese} come on gild.......

[13:49] {magoo} play the levels...00 .50

[13:49] {magoo} next hurdle is .50

[13:51] {magoo} natural stop now is .99, and if it re-takes 143.00 just reload it...the ole IN and OUT

[13:53] {magoo} i wanna catch a RIPPPPPPp..mega points but it aint happening

[13:54] {nemo} Vad, wish you had answered me on that RIMM short at .60

[13:54] {Threei} when?

[13:54] {Threei} sorry, I missed it completely

[13:54] {fernp} Have a nice weekend everybody. See you all on monday

[13:55] {Threei} take care fern, have a good one

[13:55] {RonS} cya fern

[13:55] {ese} 1/2 out gild .26 +.09

[13:55] {nemo} [13:19] {nemo} rimm could be short under .60

[13:55] {magoo} FERN WAITTTTTTT

[13:55] {ese} remainder to break even .17

06[13:55] * magoo slaps fernp around a bit with a large trout

[13:55] {ese} stop on remainder

[13:56] {fernp} thank you mags. I feel better, You are back

[13:56] {shorty} bye fernp

[13:56] {Threei} that was nice one, RIMM

[13:56] {Threei} good setup, I'd have liked it if saw your post

[13:58] {ese} out in full gild .33 +.14 on remainder

[13:58] {magoo} MGM climbing strong..not in

[13:59] {magoo} amzn needs to blitz .50, hold .50 on pllbk and assualt 144

[14:03] {dino} pega

[14:04] {magoo} gs l take of .50

[14:04] {dino} out ctsh +.03 thing won't move

[14:06] {magoo} out amzn + .57

[14:06] {magoo} cant get the RIP

[14:06] {magoo} UAUA

[14:06] {Threei} it's Fri

[14:06] {magoo} UAUA

[14:13] {dino} pega sm l .06

[14:16] {magoo} AIG ate big offer at .60

[14:17] {Threei} http://www.realitytrader.com/blackboxforex.html

[14:18] {dino} rino .76 sm l

[14:18] {KSystems} beautiful :D

[14:18] {Threei} UAUA Hearing strength attributed to positive comments from JP Morgan analyst (timing uncertain)

[14:18] {Threei} - JP Morgan raises estimates and price target boosted to $27.50 from $25.50

[14:24] {magoo} ty boss

[14:24] {RonS} c&h daily on glw w/ earnings 4/28

[14:25] {magoo} out .47

[14:25] {magoo} + .18

[14:25] {magoo} UAUA

[14:29] {magoo} now nemo, good exam of what i was saying

[14:29] {magoo} out .48, reloaded .50 out .67

[14:29] {nemo} in what uauau

[14:29] {magoo} yea

[14:29] {magoo} just cause take out, doesnt mean u cant reload

[14:30] {dino} out apol +.10

[14:31] {dino} out mos +.28

[14:31] {Threei} magoo

[14:31] {shorty} amazing dino

[14:32] {Threei} in venue of over-the-weekend sould-searching, do you know what your greatest strength is?

[14:32] {magoo} ignorance??

[14:32] {Threei} no, that's mine

[14:32] {Threei} don't compete on my turf

[14:32] {Threei} ease with which you move in the market and out of it

[14:33] {magoo} ability to sleep thru anything??

[14:33] {Threei} for a lot of people each new trade is almost agonizing decision

[14:33] {Threei} for you it's just a click

[14:34] {Threei} this liquidity is a huge help in mobile market

[14:34] {magoo} i flip alot each day]

[14:34] {magoo} long short dont care

[14:35] {magoo} reload uaua .75

[14:35] {magoo} in

[14:35] {magoo} try .93

[14:35] {magoo} in amzn too 143

[14:35] {Threei} also, you are hyperactive {G}

[14:35] {magoo} but thanx i guess lol

[14:36] {magoo} there is a method tho..was trying to convey that

[14:36] {dino} sm l pot .07

[14:36] {Threei} totally

[14:36] {Threei} method, self control and ease of execution... golden combination

[14:37] {magoo} out .90 2k, +.15 see

[14:37] {magoo} a methiod

[14:41] {magoo} if i could only catch a RIPPPPPPPPP in amzn

[14:41] {magoo} id call it a day

[14:41] {magoo} no i wouldn't :)

[14:41] {Threei} lol

[14:41] {magoo} i want 145 area

[14:42] {Threei} in life, we don't always get what we want

[14:42] {nemo} any bets we end on day highs

[14:43] {RonS} out sks 10.7 +.37 :), scratched mos :/

[14:43] {Threei} wtg Ron

[14:43] {RonS} 10.7=10.17

[14:43] {Threei} beautiful trade

[14:44] {shorty} I missed that one

[14:44] {Threei} everything came toghther for it

[14:44] {Threei} charts in all time frames, fundamentals, right sector, short squeeze and market help

[14:44] {Threei} rare case when it's this easy - AND works

[14:44] {RonS} ya know, last Friday, i saw a rather young mand driving a new Ferrari w/ the license plate: SHRTSQZE

[14:45] {Threei} lol

[14:45] {magoo} ROFLOL

[14:45] {RonS} ...it really stuck me, but i was kinda embarrased to bring it up

[14:46] {RonS} stuck=struck

[14:46] {magoo} actually, thats AWESOME

[14:46] {Threei} I can see magoo ordering plate saying "I live for MOMO"

[14:47] {RonS} momomagoo

[14:47] {magoo} MOMOTRDR

[14:47] {Threei} or "LOCO RULEZ"

[14:47] {magoo} id buy a porsche tho

[14:47] {Threei} Cayenne too

[14:48] {shorty} lol

[14:49] {magoo} id keep eye on GS here

[14:49] {magoo} out of bullets me

[14:49] {magoo} loaded up amzn

[14:49] {RonS} ...if you drive a Cayenne in Cheyenne can you still be a cowboy?

[14:50] {RonS} absolute proof ther is no justice: http://www.msnbc.msn.com/id/36723890/ns/us_news-wonderful_world/?GT1=43001

[14:50] {shorty} A coka cola cowboy maybe, I have no idea what that means, but my ranching buddies would call city folk that name.

[14:51] {shorty} I wonder if he will buy a set of teeth.

[14:51] {RonS} teefs

[14:51] {Threei} lol Ron

[14:52] {shorty} lol

[14:52] {Threei} had just $28.96 in his bank account; plans dentistry, Disney trip

[14:52] {Threei} your question is answered shorty

[14:52] {Threei} he will

[14:53] {shorty} Now I can get on with my life

[14:53] {dino} pega stopped -.22

[14:54] {magoo} read UAUA vad? i do not

[14:55] {ese} i'm brain dead people......everything looks the sae right now......i'm gonna pack it in for the weekend

[14:55] {ese} same

[14:55] {magoo} ESE WAIT

[14:55] {RonS} cya ese

06[14:55] * magoo slaps ese around a bit with a large trout

[14:55] {Threei} take care ese

[14:55] {ese} ahhhhhhhhhh tks mags

[14:55] {shorty} bye ese

[14:56] {ese} cya vad....been a good couple of days.....maybe the venting on wednesday helped

[14:56] {Threei} :)

[14:56] {dino} cya es

[14:56] {Threei} UAUA, rather up but like 52/48, mags

[14:57] {magoo} ya ya

[14:57] {magoo} read AIG vad, maybe gonna xplode? i dont no

[14:58] {Threei} someone should complain to PETA or something about systematic elimination of bears in the market

[14:58] {Threei} drawing total blank on AIG, sorry

[14:58] {shorty} ASBV b/o Threei

[14:58] {shorty} ASBC

[14:59] {Threei} b/o??

[14:59] {Threei} I don't see it

[14:59] {dino} pot to .49

[14:59] {Threei} as in body odor, yes... and very strong

[14:59] {shorty} that bad?

[15:00] {Threei} total stinker :)

[15:00] {dino} pega rinse

[15:00] {dino} out pot +.42

[15:00] {shorty} Do you want me to stop, or keep them coming?

[15:01] {Threei} of course keep them

[15:01] {Threei} it's a great learning process

[15:02] {Threei} Ron, want a great story about irony of lottery winnings?

[15:02] {Threei} real story, from Winnipeg, about 10 years ago or so

[15:02] {nemo} as long as they keep printing money the value of the money goes down so the stocks go up, we could end up at record highs before this is through

[15:03] {RonS} ...ok

[15:04] {dino} pega l .20

[15:04] {Threei} and hey, Les is not here to grumble about our strage anecdotes

[15:05] {Threei} so, guy is what you can call a total trash - constantly drunk, on light drugs,

[15:05] {Threei} works on his brother's farm manually loading tracks with hay, manure and other crap

[15:06] {Threei} about 2-3 times a year goes to jail for a few days or weeks for small time crimes

[15:06] {Threei} and generally enjoys life.

[15:06] {Threei} Sure enough, he goes ahead and wins 12 millions

[15:06] {Threei} Next 3 years, he never goes sober,

[15:07] {Threei} one of favorite entertainments:

[15:07] {Threei} gathers about 10 closest friends,

[15:07] {Threei} they go to the nearest Chrysler dealership, buy 10 Jeep Cherokees,

[15:07] {Threei} drive to the fields and chase each other

[15:07] {Threei} leaving totalled cars in the morning

[15:08] {Threei} and making dealership happy again in a few weeks

[15:08] {Threei} small crime spree wisde, the only thing changed is now he is in jail 6-8 times a year

[15:08] {Threei} 3 years later - empty pockets, works on his brother's farm in his old position

[15:09] {Threei} tell me it's not ironic

[15:09] {RonS} ...too much...he needed a law firm: Dewey, Cheatham and Howe

[15:10] {dino} should've at least bought the farm

[15:11] {Threei} but he may have lacked the money to make dealership ahppy then

[15:11] {RonS} ...saw Billy Martin throw dice one time in Vegas. He maintaine that if you died with one red cent in your pocket, you lost

[15:11] {shorty} Reminds me of this story: http://www.associatedcontent.com/article/95216/a_homeless_man_blows_100000_of_free.html

[15:14] {Threei} AONE DOE closes previously announced $529M loan for Fisker Automotive at Delaware GM plant

[15:14] {Threei} Department of Energy Announces Closing of $529 Million Loan to Fisker Automotive Manufacturing at Shuttered Delaware GM Plant Expected to Create Over 2,000 Jobs

[15:14] {Threei} - The Department of Energy announced today the closing of a

[15:14] {Threei} $528.7 million loan with Fisker Automotive for the development and production of two lines of plug-in hybrid electric vehicles (PHEV). The loan will support the Karma, a full-size, four-door sports sedan, and a line of family oriented models being developed under the company's Project NINA program.

[15:19] {magoo} vad, futes launch..u got any candidates?

[15:20] {Threei} sadly, not really

[15:20] {dino} out pega .97, +.77

[15:20] {dino} skie r oni baby

[15:21] {dino} spike

[15:23] {RonS} dang dino, gj

[15:23] {dino} lucky lay out, ty

[15:28] {dino} out dv sh*t trade, +.19

[15:28] {dino} rino wall at .80

[15:33] {dino} stopped rino -.06 ave

[15:36] {dino} ctsh .16 l

[15:38] {dino} stop to .17

[15:39] {dino} to .19

[15:39] {dino} to .21

[15:41] {dino} out .22 +.06

[15:41] {dptl} good weekend all...see ya monday

[15:42] {RonS} cya dp

[15:42] {dino} cya dp

[15:42] {shorty} bye dptl

[15:43] {dino} cymi .96 l

[15:43] {Threei} take care dp

[15:46] {shorty} have a good weekend everyone

[15:46] {Threei} you too shorty

[15:50] {dino} cya shorty

[15:52] {dino} cymi stop is .93

[15:54] {Threei} okay guys, let's call it a day

[15:54] {Threei} another bear slaughter

[15:54] {magoo} ty vad

[15:54] {nemo} c ya....might not be trading next week

[15:54] {RonS} good weekend to you Threei

[15:55] {Threei} no way nemo

[15:55] {Threei} you can't disappint les this much

[15:55] {dino} vacation nemo

[15:55] {Threei} have a great weekend all, see you on Monday

[15:55] {dino} to .97

[15:55] {dino} cya 3i, cya nemo

[15:57] {dino} out cymi +.01

[15:57] {dino} calling it a week, thx all, decent week

[16:00] {magoo} ty all

Apr 19 2010

Very strong day, with longs on GS (for +$1), WFC (+.20 and .25), LVS (+.20), AIG, shorts on PALM and JPM... couple small stops didn't even make a dent. Congratulations to our gutsiest trader who hit over $3 run on GS on decent size.

Session Time: Mon Apr 19 00:00:00 2010

[02:40] {KSystems} Guten Morgen!

[08:22] {Threei} Goldman Sachs [GS] commented that the security probe had no broader ramifications for CDOs markets and reiterated that the SEC allegations were "completely unfounded". It did note that the SEC investigation focused on a single 2007 transaction and that SEC had been examining CDO market for the past 18 months

[08:23] {Threei} German Econ Min Bruederle commented that the Iceland volcanic ash crisis was threatening Germany's economic recovery

[08:25] {Les} *DING DONG* - delivery! 1 strong coffee for Vad Graifer

[08:25] {Threei} how do you know?

[08:26] {Threei} I need to check my office for bugs... coffemaker bleeped the same second you said hat

[08:28] {Les} I know I'd be killing for coffee at that time of the day

[08:32] {Threei} well... yeah... but coincidence was almost spooky :)

[08:33] {Threei} GS Paulson's Pelligrini told investigators that the deal being probed by SEC is the only customized CDO deal Paulson conducted with Goldman Sachs - CNBC (160.70, 0.00, 0.00%)

[08:33] {Les} no, no remotely operated cameras here. However, if you were sixteen and blond....

[08:34] {Les} oops, did I just say that?

[08:34] {Threei} interesting that you don't make gender distinction

[08:34] {Les} touché

[08:36] {Threei} IMMU Develops Novel Immunoconjugate for Targeted Delivery of siRNAs to Solid Cancers

[08:38] {fernp} Good morning everybody

[08:38] {Les} doctors appt. back after opening. no big gains please till I get back

[08:39] {Threei} fern :)

[08:52] {Threei} (FR) France official: Global economic recovery increases risks to imbalances

[08:52] {Threei} - G20 nations have to review strategies in order to tackle imbalances

[08:52] {Threei} - The economic impact of Basel 3 and of any tax on banks needs to be studied

[09:03] {ese} morning

[09:04] {Threei} ese :)

[09:05] {dptl} good morning

[09:05] {Threei} dp :)

[09:07] {nemo} gm

[09:08] {Threei} nemo :)

[09:11] {dino} gm all

[09:11] {Threei} dino :)

[09:13] {ese} HSIC dn $51......think that might qualify as a capitulation

[09:13] {RonS} gm gents

[09:14] {Threei} Ron :)

[09:14] {ese} ron

[09:14] {Threei} lol, what kind of fluke is hat

[09:15] {Threei} Sunday, April 18, 2010 9:44:11 PM

[09:15] {Threei} Henry Schein, Inc. Signed a 5-yr distribution agreement with Maayan Ventures' Redent Nova unit (Update)

[09:15] {Threei} - The agreement relates to Redent Nova's dental products.

[09:15] {Threei} that's last news on it

[09:15] {Threei} there are bids at 57 and 58.50

[09:15] {ese} someone is about to make alot of money......looks like its quoting bac up again58.50 by 60.86

[09:15] {dino} bad print

[09:16] {Threei} I'd assume 9 is erroneous prints and will be canceled

[09:16] {dino} 57-63.24 here

[09:16] {Threei} yes if you go by whole lots, and there are 50 share lots inbetween

[09:17] {Threei} 80 shares ask 60.86

[09:20] {Threei} doesn't whole volcanic ash debacle make you think how narrow the band of conditions we survive in is

[09:22] {lasertrev} morning

[09:22] {Threei} it's like the conditions allowing us to live on this planet are just a fluke - very thin, rarity in planet's history and can be taken away at the slightest caprice

[09:22] {Threei} trev :)

[09:23] {Threei} I don't think we need to worry about killing the planet - it will kill us much sooner tyhan we will be able to cause any noticeable damage to it {G}

[09:23] {shorty} good morning all

[09:23] {Threei} shorty :)

[09:23] {nemo} that's always been my point

[09:24] {nemo} 99% of all species that have ever existed are now extinct

[09:26] {ese} banks should theoretically take a beating today.......one of them is being investigated for fraud isn't it? can't remember which one

[09:26] {dino} gs

[09:27] {Threei} dino :)

[09:27] {Threei} lol ese

[09:27] {ese} ahhhhhhhh

[09:27] {Threei} not one of them - The One

[09:28] {Threei} skipping first minutes

[09:28] {Threei} want to see what transpires

[09:30] {RonS} China down big overnight on prop bubble prick

[09:30] {RonS} that would be the story w/o gs and the vol

[09:30] {Threei} yeah, tripple whammy

[09:30] {Threei} GS, China RE and Europe airlines

[09:31] {Threei} if you ask me, it's quite amazing we are down 18 points

[09:33] {ese} only 18......i was thinking huge opening to the dn side this morning

[09:33] {Threei} let's start thinking long on pullback

[09:34] {Threei} WFC, near .50 - .60

[09:34] {dino} dji -5, but most i follow off 1+

[09:34] {Threei} BAC, around 18.10

[09:35] {Threei} we are green ese

[09:35] {Threei} believe it or not

[09:35] {nemo} maybe they think it'll just be a slap on the writ

[09:36] {nemo} wrist

[09:36] {Threei} or not even that - accusations are to be proven yet

[09:37] {ese} weird........man what can you trust vad....sheesh

[09:37] {Threei} OK, pullbacks start

[09:37] {dino} ctsh sm l .75

[09:37] {Threei} you can understand my hesitance to buy breaks this morning

[09:38] {Threei} they didn't work even on Friday morning, before all this hoopla

[09:38] {Threei} after this spike though targets are probably a bit higher for entry

[09:38] {Threei} BAC around .20 - .25

[09:39] {Threei} WFC .60 - .65

[09:39] {Threei} but let's nopt go off pure numbers

[09:39] {Threei} let them get there, then establish firm bottom and narrow range

[09:40] {Threei} one ore sharp leg please

[09:40] {dino} pot 106

[09:41] {dino} ferts stinking again

[09:41] {nemo} reminds me of driving through the german countryside when farmers were spreading "liquified" manure

[09:43] {fernp} C, Vad?

[09:43] {Threei} should be scalpable off .70

[09:43] {Threei} most likely from just under

[09:43] {fernp} ok

[09:43] {Threei} I still have hard tome trusting breakouts

[09:44] {Threei} one more thing, btw

[09:44] {Threei} m aterials may be safer plays than banks today,

[09:44] {Threei} FCX for instance

[09:44] {Threei} looks half lot short

[09:44] {Threei} 80 break

[09:45] {Threei} if stays under .20

[09:48] {Threei} nope

[09:50] {Threei} ARBA lkooks salmonish

[09:50] {dino} all green

[09:51] {nemo} yeah, the financials are taking back what they lost on Friday...figure it's paper tiger talk

[09:51] {Threei} political don and pony show

[09:52] {Threei} wow ARBA

[09:53] {Threei} Long Setup: WFC 33 break

[09:53] {Threei} if stays above .95

[09:54] {Threei} out half

[09:54] {shorty} Out...ty Threei

[09:54] {Threei} scalpers just be happy

[09:55] {shorty} very happy right now

[09:55] {Threei} who partialled, 1/4 more out here

[09:55] {Threei} and offer last piece around .30

[09:55] {dino} ctsh to .15

[09:56] {Threei} GS dropping

[09:56] {dino} out ctsh +.40

[09:56] {shorty} nice dino

[09:56] {dino} ty

[09:57] {Threei} GS 160 break should help WFC for the last target

[09:57] {shorty} I sold all my 300 shares at .11, I bought at 33

[09:58] {Threei} sto b/e still

[09:58] {Threei} stop

[10:00] {Threei} US MAR LEADING INDICATORS: 1.4% V 1.1%E

[10:02] {shorty} LVS had a good run so far

[10:02] {Threei} stop to under .10 WFC

[10:03] {nemo} got that slow grind up day feel

[10:03] {Threei} LEN

[10:03] {Threei} LEN Hearing BofA/Merrill Lynch added to US 1 List (timing uncertain) (20.52, +0.13, 0.64%)

[10:04] {Les} awiav?

[10:04] {Threei} done with WFC for now

[10:04] {shorty} That was fun

[10:04] {Les} nice comeback for spy

[10:06] {Threei} getting pullbacks finally

[10:06] {Threei} hunt's back on,

[10:06] {Threei} BAC, around 18.30

[10:09] {Threei} underestimating strength eh?

[10:10] {Les} bouncing between 50 & 200 just now

[10:12] {dino} titn l .25

[10:14] {Threei} Short Setup: BAC .55 break if holding under .60

[10:14] {Threei} and opposite if market spikes

[10:14] {dino} xrtx l .00

[10:15] {Threei} in aggressively .58

[10:15] {Threei} stop under .55

[10:16] {nemo} thought it was a short?

[10:16] {Threei} [10:14] {Threei} and opposite if market spikes

[10:16] {Threei} two sided setup

[10:17] {RonS} cycc hod, big vol today

[10:17] {Threei} still sleeping nemo?

[10:18] {fernp} stopped BAC

[10:20] {Les} wfc for new hod b/o?

[10:21] {Threei} I doubt it

[10:22] {Les} aig

[10:23] {Les} pmi hod b(/o?

[10:23] {magoo} morn

[10:23] {Threei} mags

[10:23] {Threei} AIG did it traditional out of nowhere spike

[10:24] {Threei} PMI, I'd prefer entry on pullback to about .25

[10:24] {ese} have a look at the vrsn daily chart.......that thing is just cruisin to break through 27

[10:24] {Threei} breakout is toughie

[10:24] {Les} ahh ok

[10:25] {Threei} true ese

[10:27] {Threei} IMMU Hearing speculation circulating that FDA could grant fast track status to IMMU's Lupus drug (3.75, +0.15, 4.17%)

[10:27] {Les} http://uploads.mibbit.com/S8xbUp.gif

[10:27] {Les} is this what you call a flag?

[10:28] {Threei} rather triangle

[10:28] {Les} indicative of a break in any direction?

[10:29] {Threei} not really

[10:29] {Les} ok ty

[10:30] {ese} what egg zactally is fast track status anyway......

[10:30] {ese} some sort of priority over other products

[10:32] {Les} Dino, you got a take on MMR?

[10:33] {shorty} Would you play short WFC break of 33?

[10:33] {Threei} expedient FDA procedure due to importance of the drug in question

[10:34] {Threei} not really shorty

[10:34] {RonS} McMoRan Drops as Q1 Loss Widens, Natural Gas Production Outlook Cut Back

[10:34] {ese} well it seems to me that alchohol fits the same bill

[10:34] {Les} ty Ron

[10:35] {ese} rushing a new bear to market is a great idea

[10:35] {ese} beer

[10:35] {shorty} I second that ese

[10:37] {ese} Hey LES!!!!!!!!!!! theres a fellow in Como at the top of the mountain at the gondola station that brews his beer from mountain snow......smooth man real smooth

[10:37] {shorty} I will take a break and take the kids to the zoo. Finally a gorgeous day in cowtown. Will see you guys this afternoon.

[10:38] {ese} see ya shorty

[10:38] {Les} You made good use of your time in Italy I see ese :)

[10:38] {RonS} is that why beer is yellow?

[10:38] {ese} ahhhhh hmmmmm good question

[10:38] {dino} titn out fLAT

[10:38] {Les} s wfc .98. sorry, ese's beer call distracted me

[10:39] {Threei} MMR Exec: Expect delay of up to one to one and a half years on Davy Jones well - conf call comments

[10:40] {ese} ok all lets go Long Sleemans "Honey Cream Ale"

[10:40] {Les} half out .88

[10:40] {Les} spy

[10:45] {Les} l abk .01

[10:46] {Threei} LVS

[10:46] {Threei} quick pullback closer to 23 for entry

[10:46] {Les} cover wfc +.04

[10:48] {fernp} YGE valid, Vad?

[10:48] {Threei} yes

[10:48] {Threei} nice looking one

[10:48] {Threei} with market help can even be capable of more than scalp

[10:49] {fernp} ty

[10:52] {Threei} LVS pulled back, now need market bounce top try and grab it

[10:52] {RonS} .ndx lod

[10:56] {Threei} US) Fed's Evans: Accomodative policy will remain for quite some time, not seeing much inflation pressure

[10:57] {Threei} YGE works nicely fern

[10:57] {Threei} SQNM Hearing Cantor Fitzgerald makes positive comments (timing uncertain)

[10:57] {fernp} yes, ty Vad

[10:59] {Threei} SQNM nice reaction

[10:59] {dino} mos db maybe

[11:01] {Threei} PRAN New Analysis of Phase 2a Clinical Trial Is Published in the Journal of Alzheimer's Disease

[11:04] {Threei} BKS Reportedly to provide an update of Nook e-book reader software this week

[11:04] {Threei} - update will include web browser and allow for gaming on the Nook.

[11:05] {Les} stopped abk

[11:07] {Threei} PALM Radio Shack stores are not selling Palm smartphones anymore - Sillicon Alley Insider (5.04, -0.55, -9.84%) (related RSH AAPL VZ S DT )

[11:08] {magoo} read AIG here vad?

[11:09] {Threei} not ready for another spike yet, I feel

[11:10] {Les} PALM break of 5 vad?

[11:10] {Threei} most likely, yes

[11:10] {Threei} I'd love to see small bounce first

[11:11] {Threei} to reinforce 5.05 resistance

[11:11] {Threei} or 5.10

[11:11] {Les} ok

[11:11] {Threei} whatever it is, would be nice to see it holding, then breaking support

[11:12] {Les} not shortable

[11:12] {Threei} it is here

[11:12] {Les} you know the routine. 10k on my account please

[11:12] {Les} nice b/d

[11:13] {Les} beautiful breakdown

[11:13] {Threei} very

[11:15] {Les} half out yge +.05 ty fern

[11:15] {fernp} :-)

[11:17] {magoo} FCX bounce time vad??

[11:17] {Threei} I think market is almost ready

[11:17] {Threei} and everything with it

[11:17] {Threei} FCX, LVS

[11:18] {Threei} WFC

[11:18] {Threei} WFC is .80 break trigger

[11:18] {Threei} LVS .75 break

[11:19] {Threei} FCX ,80 break

[11:22] {Threei} with this pullback, aggressive entries become preferrable

[11:22] {Threei} watch for market turn up

[11:23] {Threei} LVS will be .65 break if holdiong .60

[11:23] {Threei} FCX .80 break

[11:24] {Threei} ok market

[11:24] {Threei} time for stunning comeback

[11:24] {Threei} here we go

[11:25] {Threei} come on, you can do more

[11:27] {nemo} stop

[11:27] {Threei} ugh

[11:27] {Threei} totally looked like explosion

[11:27] {fernp} stopped LVS

[11:28] {Les} aig 39

[11:28] {nemo} market is changing

[11:29] {Threei} LVS rinse

[11:29] {fernp} yes

[11:30] {Threei} grrr

[11:32] {Les} aig 1:2

[11:32] {Les} out +.13

[11:33] {Threei} wtg

[11:33] {Les} big concentration of resistance here aig. could rocket following .20/.25

[11:34] {fernp} JPM , Vad?

[11:35] {Threei} one of weaker ones

[11:35] {Threei} I am not delighted

[11:35] {Threei} market turns up, so don't want to short it

[11:35] {Threei} and don't like long on a weak stock

[11:36] {Threei} GE) German Econ Min: There is no guarantee that airlines will receive subsidies for losses related to Iceland volcano ash cloud; need to loosen restriction on nighttime flying and weekend trucking to offset impact

[11:36] {Threei} - European transport ministers to hold videoconference at 1600GMT to discuss trucking rules.

[11:36] {Threei} - May take two weeks to cover air traffic schedules following cancellations.

[11:36] {Threei} getting whacked, JPM

[11:37] {fernp} out JPM +.17

[11:37] {Threei} shorted breakdown?

[11:37] {fernp} 45.04

[11:37] {Les} haha EU wants to sue Iceland now for volcano damage??

[11:38] {Threei} hmm?

[11:38] {nemo} that's too funny

[11:38] {Threei} where do you see that?

[11:38] {nemo} his head

[11:39] {Les} just playing with subsidy talk from German min.

[11:39] {Les} I know England is pissed with Iceland

[11:39] {Threei} oh, ok... I was hoping for the best joke of the year

[11:40] {Les} lol that would be too much

[11:41] {Threei} well, one of better jokes over the weekend was Iceland answering "when is your volcano going to stop erupting?" with

[11:41] {Threei} "well... is our debt forgiven/"

[11:42] {Les} hehehe

[11:45] {Threei} reversal attempt didn't succeed, more downside in order

[11:46] {Threei} Short Setup: JPM .80 break

[11:46] {Threei} if stays under .85 for scalpers, .90 for day traders

[11:49] {Threei} C Exec: Right now everyone is waiting for clarity on what capital requirements will be before deterimining when to reinstate dividends - conf call Q&A

[11:50] {Threei} 1:1 for day traders JPM

[11:52] {RonS} dino, ferts going natural

[11:53] {Les} someone abandoned MOS to the wolves

[11:54] {RonS} ...looks like a h&s breakdown, check the daily

[11:55] {Les} something like that. b/d from 56 nice

[11:56] {dino} brutal couple weeks for them

[11:59] {dino} bucy blood

[12:00] {Threei} need to see how end of dasy works of course, but so far, the selling is fairly contyrolled,

[12:00] {Threei} no panic, no get-me-out-now

[12:00] {ese} would agree with that sentiment

[12:01] {RonS} 1180 break would bring some panic. i have 1181 as downside target from the first hour range

[12:02] {dino} dji not meaningful, ndx, s/p more realistic

[12:02] {dino} resource plays seem to be getting clocked.

[12:02] {ese} I think that is the S&P dino

[12:05] {Threei} but DJI provides much better numbers for 11K parties

[12:06] {Threei} we may have a few of them on daily basis, as market dances around these levels

[12:08] {Threei} EU) ECB's Weber: Greece may need additional aid

[12:08] {Threei} lol

[12:09] {Les} who did they get aid from? I thought they'd manage to raise capital from the markets?

[12:10] {Threei} no they didn't

[12:10] {Les} oh

[12:10] {Threei} bond sales in USA failed, and market borrow rates were wy too high for them

[12:11] {Les} crap, and there is the fate of all European nations that need to borrow. UK, Spain etc

[12:11] {Threei} Portugal, Italy and Spain and major focus now

[12:11] {Les} Vad you got a read on MOS here?

[12:11] {Les} can't tell b/d or long entry on pullback

[12:11] {Threei} I still think short

[12:12] {Threei} 52

[12:12] {Threei} just would like better pronounced resistance level

[12:13] {Threei} no bounce

[12:13] {Threei} if you went for it, keep stop above .15

[12:13] {Les} s .99 small shares

[12:13] {Les} looking to cover .75

[12:14] {Threei} not greatly outlined resistance, I like better defined charts

[12:14] {Les} agreed

[12:14] {Threei} but with market this weak, we are not getting bounces good enough to form those

[12:15] {Threei} don't like this long hesitance... break of major support should produce better falls

[12:16] {Threei} tighten stop to above .10 IMO

[12:16] {Les} k

[12:16] {Threei} no need to get caught into vicious snapback

[12:16] {Les} out. don't like it

[12:17] {Les} and gotta do dinner

[12:17] {Threei} lol... you europians

[12:17] {Threei} doesn't concern you fern, you we like

[12:19] {fernp} nah, not too much

[12:19] {Threei} I meant you personally

[12:19] {Threei} is it bounce time for the market or not yet

[12:20] {Threei} we need little pullback, no new low,

[12:20] {Threei} then break of the high of this bounce

[12:20] {fernp} Spain is on the brink

[12:20] {dino} ctrp sm l .50

[12:20] {Threei} I know... together with Italy and Portugal

[12:21] {fernp} unemployment

[12:21] {fernp} is very high

[12:21] {Threei} let's keep LVS as bounce candidate

[12:21] {dino} ctsh sm l .45

[12:21] {Threei} and WFC

[12:22] {Threei} Long Setup: WFC .50 break

[12:22] {Threei} low of this pullback will be stop level

[12:22] {Threei} loss of .40 will invalidate setup

[12:24] {magoo} AIG vad, bounce??

[12:24] {dino} bucy sm l .50 ave

[12:24] {Threei} not sure mags

[12:24] {Threei} 50/50

[12:25] {Threei} if holding .50 and bounces, will be rather big

[12:25] {Threei} but I don't see easy trigger

[12:25] {Threei} maybe .60

[12:25] {Threei} stop is tight enough

[12:26] {Threei} setups are a little bit like jellyfish today

[12:26] {Threei} no clarity

[12:27] {Les} and nasty sting if mishandled

[12:28] {Threei} nah, just keep the stop... we don't touch those with too wide stops anyway

[12:29] {Threei} WFC is one of the better setups... cleanly defined trigger, tight stop and nice absence of overhead for about 15 cents at least

[12:29] {Threei} just need market cooperation

[12:30] {Threei} see how willing it is?

[12:30] {Threei} (US) Obama Administration to hold first meeting of debt reduction commission on 4/27

[12:30] {Threei} - Fed's Bernanke to testify before the committee

[12:31] {Threei} AIG invalidated

[12:31] {Threei} LVS moved more or less, but I never found clear entry

[12:35] {dino} out ctrp .00, +.50

[12:36] {dino} xrtx gap filled from march

[12:38] {Threei} mags

[12:38] {magoo} yes?

[12:38] {Threei} you may want to start hunting GS

[12:38] {Threei} that's your personal alert

[12:38] {Threei} and maybe jf

[12:38] {dino} ironically the ndx is taking the biggest hit -2.5% from thursday highs

[12:38] {Threei} the rest just stay away

[12:39] {Threei} this is not an alert for sane traders

[12:39] {Threei} WFC, half out

[12:39] {Threei} or take scalp

[12:39] {Threei} your choice

[12:39] {dino} dji rally

[12:39] {Les} out ty and in gs

[12:39] {Threei} I thought you went to cook dinner?

[12:40] {Les} sssh don't tell anyone

[12:40] {Threei} or you had to make some dough first? {G}

[12:40] {Threei} hey, that was not a bad pun... as far as bad puns go

[12:41] {Threei} sigh... not even mercy laugh... I don't like any of you

[12:41] {Threei} where is larisa

[12:41] {Les} sorry wasn't biting

[12:42] {Threei} she wouldn't laugh either but her I like nonetheless

[12:44] {Threei} first partial out GS

[12:44] {Threei} +.50

[12:44] {Les} out GS +.28

[12:44] {Threei} WFC well over 1:2

[12:44] {Threei} 1/4 more out

[12:45] {Threei} notice that with exception of Friday when almost every stock we touched turned into turd, WFC is our most reliable performer of late

[12:45] {Threei} offer 1/4 more GS here

[12:46] {Threei} out .75

[12:46] {Threei} +.85

[12:46] {Threei} mags? jf?

[12:46] {magoo} out nice call ty

[12:46] {Threei} :)

[12:46] {magoo} perfect really

[12:46] {Threei} no specific entry but that was not a call for anyone else

[12:47] {Threei} only for those who have a feel for this kind of movers

06[12:47] * Threei slaps jfjf64 around a bit with a large roll of cash

[12:47] {magoo} magoo runs

[12:47] {Threei} WFC stop for the last portion to under .60

[12:47] {Threei} where do think you are going?

06[12:47] * Threei slaps magoo around a bit with a large roll of cash

[12:47] {dino} out bucy .20, +.70

[12:49] {Threei} out last piece WFC .76

[12:49] {Threei} +.25

[12:49] {fernp} gj Vad

[12:49] {Threei} ty kind sir

[12:50] {Threei} getting bad in the groove after miserable Fri

[12:50] {Threei} back

[12:50] {Threei} last piece of GS, stop under 159 for now

[12:51] {dino} gj

[12:51] {Threei} had full dollar on it but also had other plans for it

[12:51] {Threei} ty dino

[12:51] {Threei} want to try and let it run

[12:51] {Threei} no risk, playing with house money

[12:51] {Threei} stop abput breakeven or profit about two bucks

[12:52] {Threei} look at intraday

[12:52] {Threei} does it have a look of returning to day high if market helps any?

[12:56] {Les} y

[12:59] {Threei} out

[13:00] {Threei} oh well, no two bucks for me

[13:02] {ese} nice one with wfc ladies and gentlemen.

[13:02] {Les} what about me ese?

[13:02] {Les} :D

[13:03] {Les} tough crowd today

[13:03] {Les} spy

[13:03] {Threei} GS Spokesperson: Fabrice Tourre still employed at Goldman, has made personal decision to take time off

[13:03] {dino} same les

[13:03] {Les} fas

[13:04] {fernp} WFC any read, Vad?

[13:05] {Threei} pure technicals wise, should be perfect bounce point

[13:05] {fernp} agree

[13:05] {Threei} but considering general situation with financials, I'd prefer to see GS/SPY leading

[13:05] {fernp} ok, ty

[13:06] {ese} ha ha ......ha ha les

[13:07] {ese} i'm assuming were referring to the gentleman part

[13:07] {ese} and dino

[13:07] {Threei} Les has indentity crisis, ese...

[13:09] {Les} I do believe an Australian citizen was officially recognised as neither male nor female last month

[13:09] {dino} :s

[13:09] {Les} welcome to the new world

[13:10] {dino} evolution, lol

[13:10] {dino} klic gap fill

[13:12] {Threei} WFC should be ready

[13:12] {Threei} 5 cents ranges recross routine

[13:16] {Threei} not this time

[13:16] {fernp} no go

[13:18] {fernp} PDCO any read, Vad?

[13:19] {Threei} .75 break short makes sense but don't count on much

[13:19] {fernp} ok

[13:23] {Les} l wfc .41. spy making higher hi and low, let's see if fas does

[13:23] {Threei} why not .35 cross?

[13:24] {Les} missed it. should have chased

[13:24] {fernp} took .37 here

[13:24] {fernp} stop under .30

[13:24] {Threei} that was a good entry fern

[13:25] {Threei} out yet or partialling?

[13:25] {fernp} out here .50

[13:25] {Les} half .50

[13:25] {Les} all out. pivot .51

[13:27] {Les} pmi crash and burn. db here?

[13:27] {Les} gs back to 159

[13:28] {Les} l gs.05

[13:31] {Threei} no read Les, confirmation level for DB is way too far

[13:31] {Les} ok

[13:33] {Les} stopped gs

[13:35] {magoo} AIG

[13:37] {magoo} fcx next

[13:37] {magoo} tyere is AIG news vad

[13:37] {Threei} no

[13:38] {Threei} AIG Moving higher after Congressman Cummings calls for probe of AIG-GS trades

[13:38] {Threei} here it is

[13:38] {Threei} how do AIG benefits from that??

[13:39] {RonS} ...Congressonal talk over weekend of forcing GS to give money to AIG...

[13:39] {Threei} seriously, anyone understands this connection?

[13:40] {magoo} RON is corret

[13:40] {Threei} sheesh... seriously??

[13:40] {magoo} AIG could benefit from GS scandal

[13:40] {RonS} USSRofA

[13:41] {Les} washington gets its pound of flesh to hide its own complicity

[13:41] {Les} or seeks it

[13:43] {Threei} unfreakinbelieavble

[13:43] {Threei} contract doesn't mean anything

[13:44] {Threei} laws are reversible

[13:45] {Les} out +.14 fcx ty mags

[13:46] {magoo} :)

[13:46] {Threei} good job guys

[13:47] {Threei} Ron, trust me... you don't even know how right you are

[13:47] {Threei} the resemblace is beyind scary

[13:48] {RonS} I know my history Vad, and political philosophy...just sayin, not bragging.

[13:48] {Threei} great to hear

[13:49] {RonS} rule of men v. rule of law...

[13:49] {nemo} steal a hook, hang as a crook; steal a kingdom, be made a duke

[13:53] {ese} ok.....considering going long NVDA like last friday

[13:54] {ese} patience grasshopper patience

[13:54] {magoo} vad, was there BIDU news? or they report tonite?

[13:55] {magoo} its pummeled

[13:56] {Threei} no report

[13:57] {Threei} no news

[13:57] {Threei} Lehman issues subpoenas to other financial firms as part of investigation into the cause of Lehman's collapse, including who may have been shorting the stock - CNBC

[13:57] {Threei} - Lehman subpoenas issued to ifirms including Goldman Sachs Group Inc., SAC Capital Advisors LP, Greenlight Capital Inc. and Citadel Investment Group LLC.

[13:57] {RonS} mags, you do know that Shanghai was down approx 4.5% last night?...

[14:04] {Threei} [IMMU] Reports Progress on Antibody-Drug Conjugate Development at Cancer Meeting

[14:04] {ese} L nvda .56

[14:11] {magoo} .

[14:11] {Threei} GM GM to repay $4.7B in govt loans well before June 1 target date - CNBC

[14:13] {Threei} nice entry ese

[14:14] {ese} tks

[14:16] {dino} gj

[14:16] {dino} fdx sm l .20

[14:19] {ese} wonder if it can hit 17

[14:21] {fernp} MEE is happy

[14:22] {Threei} I would say "we too are happy for YOUUUU", but noone appreciates my sense of humor today

[14:22] {fernp} lol

[14:23] {Threei} thank you

[14:23] {fernp} yw

[14:26] {Threei} if we close in green today and no new shocking news come out, I will be convinced of rally resumption

[14:28] {ese} out 1/2 5k .76 +.20 and change

[14:29] {Threei} wtg

[14:29] {magoo} GS big level 160

[14:29] {ese} out in full 5k more +.19

[14:31] {dino} gj es

[14:34] {magoo} GS

[14:36] {dino} giddy-up

[14:36] {Threei} I think things change folks

[14:36] {Threei} Fri shock wears off

[14:36] {RonS} from Market watch at 2:32: Investors grew more confident the fallout from U.S. regulators' charging Goldman Sachs (GS:$161.15,00$0.45,000.28%) might not be as widespread for gold and gold funds as initially feared, said Stephen Platt, an Archer Financial Services commodity analyst in Chicago.

[14:36] {Threei} market doesn't feel it's a reason for reversal anymore

[14:37] {Threei} and think of it:

[14:37] {Threei} over the weekend we had GS, China RE tightening and Europe airlines disaster

[14:37] {Threei} if we can close in green after all that, or even contain losses to insignificant nnumbers...

[14:38] {Threei} I'd say bears are back in thw world of suffering

[14:39] {dino} dropped roughly 2% on s/p, 2.5% ndx

[14:40] {dino} dai

[14:40] {dino} $4+ dai

[14:46] {Threei} The Goldman Sachs Group Inc Shares move into positive territory for the day after unconfirmed report circulates that the SEC's decision to move forward on charges was split 3-2 along political party lines

[14:46] {Threei} - Vote had Shapiro siding with the Democratic side; 3-2

[14:48] {dino} right now gs is saying, "how much to make this go away"

[14:49] {Threei} in my mind it's a bit different: GS saying "take whatever we offer now, or we will fight this for real and win - then you get nothing"

[14:49] {magoo} GS reports tomorrow a.m

[14:50] {Threei} yeah

[14:51] {magoo} could squeeze

[14:51] {Threei} imo... it will

[14:51] {magoo} 165 area

[14:53] {RonS} Ready to rock your world: http://www.dailymail.co.uk/news/worldnews/article-1267262/Iranian-cleric-Women-wear-revealing-clothing-cause-earthquakes.html

[14:54] {Threei} I believe it

[14:55] {magoo} im in GS 159.60

[14:55] {magoo} looking for squeeze

[14:55] {Threei} maybe lately this connection became less pronounced but I distnictively remember in my youth the earth shaking when thos erevealing clothes walked by

[14:57] {Threei} LVS

[14:58] {dino} out mos +.48

[14:58] {dino} out mos +.43

[14:58] {ese} gotta go....see you tomorow

[14:58] {Threei} if SPY breaks this resistance, LVS become .70 break lonmg

[14:58] {Threei} take care ese

[14:59] {dino} cya es

[15:00] {Les} haven't been able to get a toehold in gs. lots of shakeouts

[15:00] {magoo} i gave u the perfect entry 160

[15:01] {Les} yeh can see need to take trading out of house somewhere in the future

[15:01] {Les} been putting kids to bed

[15:01] {dino} out fdx .60, +.35

[15:01] {dino} back in ten

[15:01] {dino} opps, that was +.40

[15:06] {Threei} LVS over 1:1

[15:06] {Threei} nice to be on the right side of things today

[15:07] {magoo} i should put in a MOC sell vad

[15:07] {Threei} MOC?

[15:07] {magoo} mark on close

[15:07] {Threei} over 1:2 LVS

[15:07] {Threei} oh

[15:12] {shorty} Back, I assume I missed a good day?

[15:12] {Threei} quite

[15:13] {shorty} Had a fun day though.

[15:17] {magoo} resistance is 163..166..185

[15:18] {Threei} lol

[15:18] {Threei} eternal optimist

[15:18] {magoo} im in..this is live ciommentary

[15:22] {fernp} Good evening everybody. See you all tomorrow

[15:22] {Les} ciao fern

[15:22] {shorty} bye fernp

[15:22] {RonS} cya fern

[15:22] {Threei} take care fern

[15:22] {magoo} out 162.84

[15:23] {magoo} plus alot

[15:23] {magoo} 3.24 on 1200 shares

[15:23] {Les} not shabby

[15:23] {Threei} wtg

[15:23] {magoo} gonna looki to reload

[15:23] {shorty} wow

[15:25] {magoo} my type of trade

[15:25] {magoo} mojo..momo

06[15:25] * Threei slaps magoo around a bit with a large roll of cash

[15:25] {Threei} actually, let me correct that

[15:25] {magoo} see the 163 resistance vad?

06[15:25] * Threei slaps magoo around a bit with a large roll of cash

06[15:25] * Threei slaps magoo around a bit with a large roll of cash

06[15:25] * Threei slaps magoo around a bit with a large roll of cash

[15:25] {Threei} there

[15:26] {Les} got in a couple of times but not green for it. your 160 break was it.

[15:26] {Threei} don't go for 163 break mags

[15:26] {Threei} total gamble this time

[15:26] {Threei} profit taking at the eod is just as likely as short squeeze

[15:26] {Threei} if you seriously weant it, take small shares

[15:27] {Threei} but above all, preserve your profits

[15:27] {magoo} ya ya agree

[15:27] {shorty} what stock did you trade magoo?

[15:27] {magoo} slap him vad

[15:27] {Threei} look how much you made today, think how much you can give back without regret

[15:27] {magoo} i put the entire trade call in real time'

[15:27] {Threei} and decide that you don't go home with less than X

[15:28] {Threei} GS shorty

[15:28] {Les} tis a nice squeeze

[15:28] {dino} 30 minutes magoo, thats all

[15:28] {shorty} thanks

[15:30] {nemo} gotta' go, c u guys tomorrow

[15:30] {Threei} take care nemo

[15:30] {Les} ciao

[15:30] {RonS} cya nemo

[15:30] {dptl} good evening all

[15:30] {shorty} bye nemo

[15:31] {dino} cya =nemo, dp

[15:31] {Les} Is Nemo sick? why is he so quiet?

[15:31] {shorty} lol

[15:31] {Threei} bye dp

[15:32] {shorty} bye dptl

[15:32] {magoo} in 00 out .51

[15:32] {Threei} wtg

[15:33] {shorty} had a good day magoo?

[15:33] {magoo} ya ya

[15:33] {magoo} i get in a zone sometimes

[15:33] {magoo} can feel it

[15:33] {shorty} awesome, I hope to get there one day.

[15:34] {Threei} good is understatement of the week

[15:34] {Threei} mags killed it

[15:34] {magoo} took alot of pain

[15:34] {shorty} I love it.

[15:34] {Les} well if we could get a paging system happening here, I'd like to be in it too...

[15:34] {Threei} well mags, that's because you have different philosophy than I do

[15:34] {magoo} i mean, to get the feel...alot of hard lessons

[15:34] {Threei} yours is no pain no gain

[15:34] {Threei} mine is, no pain? Good!

[15:35] {Les} "Les....calling Les to GS please"

[15:35] {magoo} no vad...its more like "let a winner..WIN"

[15:35] {magoo} u more like"take the profit..u cant lose"

[15:36] {shorty} I have a hard time with letting a winner win, I get jittery.

[15:36] {Les} http://www.spiegel.de/fotostrecke/fotostrecke-53971-20.html

[15:36] {dino} lol, more like live by the sword....

[15:36] {Les} haven't been able to get sunset like this yet

[15:36] {magoo} but ironically, we all let a loser crush us

[15:36] {magoo} which is the opposite

[15:36] {RonS} http://www.genevainternational.org/thumbs/foto2.jpg

[15:36] {magoo} except vad of course

[15:36] {magoo} qand dino

[15:37] {magoo} and dino

[15:37] {shorty} RonS, is that LEs?

[15:37] {dino} die by it

[15:37] {magoo} hes good stopper

[15:37] {Threei} no mags, I am all for letting them run, I jusy want to partial on the way

[15:37] {Threei} and protect profit

[15:37] {Threei} I hate letting profit turn into loss

[15:37] {shorty} Me too Threei

[15:37] {Threei} once it exceeds certain amount, I will keep it like bulldog the intruder's ankle

[15:38] {dino} we are all different, million ways, but i'm w/you on a profit going to loss, can't stand it

[15:38] {Threei} yeah, it's like slap in the face

[15:38] {magoo} slap?????

06[15:38] * magoo slaps Threei around a bit with a large trout

[15:38] {shorty} lol

[15:38] {Threei} lol

[15:39] {Threei} you saw me with GS today, +.50, .85 and tried to let the last one run, didn't even take full dollar

[15:40] {magoo} yours was a beauty vad

[15:40] {Threei} ty

[15:41] {magoo} your timing was perfect..straight up

[15:41] {Threei} that's how I like them... easy moneyh, no struggle

[15:41] {magoo} mine was straight up too tho

[15:44] {Threei} some profit takeing

[15:44] {Threei} not too much so far

[15:51] {Threei} Follow Up: Weber suggests Greece could ultimately need approx 80B in aid - WSJ

[15:51] {magoo} BAC rocked there

[15:55] {shorty} Have a good all, and see you tomorrow. Thanks Threei

[15:55] {shorty} night

[15:55] {Threei} take care shorty

[15:55] {Les} ciao

[15:56] {Threei} if I were a bear, this close would seriously worry me

[15:56] {RonS} dino, mos continues to work off the mat. good for a.m.

[15:56] {magoo} yea..all was in there favor today

[15:58] {Les} crap Vad, the MOS short that merited stopping out of became a fabulous long.

[15:58] {Threei} no kidding

[15:58] {Les} nope

[15:59] {magoo} ibm tonite

[15:59] {Les} tomorrow's another day. c u's then

[15:59] {Threei} IMB and STLD

[16:00] {Threei} the rest is small fish

[16:00] {dino} on it ron

[16:00] {RonS} ntrs

[16:02] {magoo} WOW ARRY

[16:02] {Threei} ARRY Signs pact for oncology with Novartis for devlopment of MEK Inhibitors; expects $45M upfront payment

[16:02] {Threei} - could receive $422M in additional payments from NV

[16:05] {Threei} AMGN Preclinical Study Demonstrated Anti-Tumor Activity in Mammary Tumor Model

[16:05] {Threei} PG *INCREASES DIVIDEND to $0.4818 from $0.44

[16:06] {dino} gn all

[16:06] {Threei} dino :)

[16:07] {magoo} ibm moving

[16:08] {Threei} nothing yet'

[16:09] {Threei} IBM Reports Q1 $1.97 v $1.93e

[16:09] {Threei} R$22.9B v $22.8Be

[16:09] {Threei} - Guides FY10 EPS at least $11.20 v $11.12e (guided "at least" $11.00 on 1/19)

[16:11] {Threei} ZION Reports Q1 -$0.57 v -$0.95e