Session Start: Mon Jul 14 01:28:51 2008
[08:03] {Threei} CNBC'S STEVE LIESMAN REPORTS THAT SOURCES AT TREASURY FEEL THAT GSES 'DO NOT HAVE A LIQUIDITY PROBLEM', DO NOT EXPECT THEM TO USE CREDIT LINES
[08:03] {Threei} - if lines are used they may be charged penalty rate{FNM}
[08:04] {Threei} SOLF
[08:04] {Threei} AWARDED 47MW SALES CONTRACT WITH SCHUCO
[08:04] {Threei} - Under the terms of the agreement, Solarfun has agreed to supply a total of 47.0 MW of PV modules to Schuco at a fixed price to be delivered according to a binding delivery schedule from December 2008 to October 2009.
[08:04] {Threei} - The PV modules are intended to be installed in major projects in south-east Europe and the Middle-East.
[08:32] {Threei} IMMU
[08:32] {Threei} ANNOUNCES WORLDWIDE LICENSE AND COLLABORATION AGREEMENT WITH NYCOMED FOR VELTUZUMAB FOR NON-CANCER INDICATIONS
[08:40] {hawkfan4} good morning Vad, all
[08:42] {cosmo} CRME pre mkt high = 11 fyi
[08:44] {cosmo} gonna test
[08:47] {Threei} good morning
[08:47] {Threei} hawk, where have you been man
[08:47] {Threei} you would have made a killing on Friday
[08:49] {Threei} FRE
[08:49] {Threei} PREVIEW: EXPECT RESULTS OF $3B 3 AND 6-MONTH BILL AUCTION AT OR AROUND 9:45AM ET
[08:49] {Threei} - the weekly auction is a modest $3B, but is likely to act as vote of confidence in the agencies if it demonstates good participation as is generally expected. Over the past two months, the money market yields on Freddie Mac reference bills have averaged roughly 25 basis points above OIS for the 90-day bills and 30 basis points for 6-month bills. Cover ratios have averaged nearly 2.90 for 3-month bills and 2.50 for 6-month bills{FNM}
[08:49] {hawkfan4} was in Florida, had my laptop but my broadband card wouldn't work there, so i actually took the whole week off. I missed a good one?
[08:50] {Threei} Friday
[08:50] {Threei} FRE and FNM were killer trades
[08:50] {Threei} readable, wide range
[08:54] {cosmo} CRME: # Cardiome Announces Positive Phase 2b Results For Oral VernakalantPR Newswire(Mon 8:25am)
[08:54] {hawkfan4} reading the logs, looks very nice
[08:54] {Threei} one of those days... could do no wrong
[08:54] {Threei} nice gap CRME
[08:55] {cosmo} 11
[09:02] {cosmo} should 10.60
[09:02] {cosmo} hold
[09:03] {cosmo} 10.50 must hold
[09:04] {peterg} Hola!
[09:04] {Threei} peter, welcome back
[09:04] {peterg} Thanks, good to be back; but life on the Continent is not so bad
[09:04] {Threei} how was the trip?
[09:04] {peterg} Mallorca, Paris, wonderful
[09:05] {Threei} :)
[09:08] {magoo} miorning
[09:08] {Threei} magoo :)
[09:11] {Threei} CEO: FNM HOLDS MORE THAN ADEQUATE CAPITAL RESERVES
[09:11] {judijim} good morning all
[09:12] {Threei} jj :)
[09:12] {dino} gm all
[09:12] {Threei} dino :)
[09:13] {dptl} good morning all
[09:13] {Threei} dp :)
[09:19] {dino} magoo said i missed a wild friday
[09:19] {Threei} yeah :(
[09:21] {Threei} 09:19am [XING] Reports FY08 Rev $531.1M (+20.3% y/y) (no est)
[09:27] {cosmo} CRME should hold 10.80 imho
[09:32] {Threei} 13.01 long FNM if stays above 12.90
[09:33] {Threei} UPDATE: LEHMAN CONSIDERING OPTIONS FOR SLOWING THE STOCK DROP INCLUDING CONSIDERING SHARE BUY BACK - WSJ
[09:33] {Threei} - WSJ reports Lehman also in talks with Korean financial firms for a possible stake sale
[09:39] {dino} yeah, good idea buy back stock when you need to raise capital, c'mon.....
[09:39] {dino} idiots
[09:39] {magoo} markets open weaker than i would expect
[09:42] {magoo} vad, rimm bouncer somewhere
[09:43] {Threei} don't know... looks still down to me
[09:44] {Threei} 110 is serious breakdown which I'd rather be shorting
[09:45] {GeoArb} true dino but i think the want to buy back stocks to force shorts to locate and short squeeze
[09:45] {magoo} ok..ty
[09:47] {dino} maybe so, but if they need capital, they should not be buying back stock, look what happened to ncc
[09:47] {Threei} FRE
[09:47] {Threei} COMPLETES $3B BILL AUCTION RESULTS; BID-TO-COVER RATIOS, 3-MONTH AND 6-MONTH
[09:47] {Threei} - Spread over Treasury v 103bps prior
[09:47] {Threei} - Deal seen at 2.34-2.35%
[09:52] {Threei} MYGN
[09:52] {Threei} small shares long .50
[09:52] {Threei} stop under .20
[09:53] {Threei} not a scalp most likely
[09:58] {Threei} stop to under .30
[09:58] {Threei} LEH, what a disaster
[09:59] {Threei} PRESIDENT BUSH PLANS TO LIFT BAN ON OFF SHORE DRILLING
[09:59] {Threei} {USO}
[10:00] {dino} good
[10:00] {Threei} what's with IMGN?
[10:01] {Threei} no go MYGN
[10:02] {Threei} was capable of scalp... really expected more of it
[10:05] {Threei} FNM, first long try on pullback to .50
[10:06] {Threei} LEH .65 long
[10:06] {Threei} if stays above .50
[10:07] {Threei} let FNM go for now
[10:08] {Threei} LEH half out
[10:08] {Threei} scalpers take profit
[10:10] {Threei} stop for the balance to under .60
[10:14] {Threei} out 1/4 more LEH +.45
[10:16] {Threei} out LEH in full + something good
[10:16] {Threei} .55 or something
[10:17] {dino} v sm, risky, l gs .50
[10:20] {dino} gj
[10:26] {Threei} SQNM half lot long .90 if styas above .75
[10:33] {Threei} VPHM .30 long if stays above .20
[10:42] {Threei} no go VPHM
[10:55] {dino} artc sm l .99, stop lod
[11:04] {Threei} RIMM short 110 break
[11:04] {Threei} stop above .20
[11:05] {Threei} invalidated
[11:09] {Threei} IBM long half lot.25 if stays above .10
[11:13] {Threei} RIMM fooled us eh?
[11:13] {Threei} ruined setup, then triggered and worked like charm
[11:13] {Threei} IBM over 1:1 for scalpers
[11:14] {hawkfan4} lots of that today, vphm worked too after a quick rinse
[11:14] {Threei} yep
[11:14] {Threei} 1:2 IBM
[11:15] {Threei} 1:3, no reason to stay in who is still holding
[11:15] {hawkfan4} out .65, thx
[11:16] {Threei} :)
[11:17] {Threei} just in time eh?
[11:17] {hawkfan4} definitely :)
[11:18] {Threei} look at SQNM
[11:18] {Threei} did same thing as RIMM
[11:19] {Threei} invalidated setup, then went big
[11:19] {Threei} MER
[11:19] {Threei} .51 long
[11:20] {Threei} .39 sop
[11:24] {dino} out artc .38, +.39
[11:24] {Threei} LEH short
[11:24] {Threei} as close to 14 as you can get, stop above 14.10
[11:25] {dino} lod's markets
[11:25] {Threei} feels like breakdown is coming
[11:26] {Threei} in
[11:27] {Threei} got .97
[11:29] {Threei} stopped
[11:50] {Threei} FRE
[11:50] {Threei} TREASURER BITSBERGER: RECENT BILL SALE WAS 'BUSINESS AS USUAL', FOREIGN DEMAND FOR BILLS 'UNRELENTING'
[11:50] {Threei} WM
[11:50] {Threei} TICKING LOWER, HEARING WEAKNESS ATTRIBUTED TO COMMENTS FROM JIM CRAMER
[11:50] {Threei} LEHMAN MAKING CAUTIOUS COMMENTS, WM COULD TAKE $4B IN PROVISIONS FOR LOAN LOSSES IN Q2 (TIMING UNCERTAIN)
[11:50] {Threei} - Lehman sees WaMu Q2 charge offs of $1.8B
[11:52] {Threei} LEH rinsed... working now
[11:53] {Threei} watching for bounce to short into
[11:54] {Threei} WM starts looking like next IMB
[11:54] {Threei} WB short
[11:54] {Threei} right here
[11:54] {Threei} stop over .50
[11:55] {Threei} NCC halted
[11:55] {Threei} another financial
[11:56] {Threei} grrr LEH
[11:56] {Chaeron} Hi all... begining of end of world?
[11:56] {Threei} yup
[11:57] {Chaeron} I suggest shortening it to EOW... no no, it's not a symbol
[11:58] {Threei} WB over half out
[11:58] {Threei} over 1:1
[11:58] {Threei} covered half .11, +.32
[11:58] {Threei} .23, sorry
[11:59] {Threei} stop to .31
[11:59] {Threei} out
[11:59] {Threei} NCC
[11:59] {Threei} SSUES STATEMENT IN RESPONSE TO MARKET RUMORS
[11:59] {Threei} - "National City is experiencing no unusual depositor or creditor activity. As of the close of Friday's business, the bank maintained more than $12B of excess short-term liquidity. Further, as a result of our recent $7 billion capital raise, National City maintains one of the highest Tier I regulatory capital ratios among large banks."
[11:59] {Threei} wow... halt for good news?
[11:59] {Threei} or at least spin
[12:00] {Threei} rare occurence these days
[12:02] {Threei} everyone's asleep? or someone's is till trading?
[12:02] {hawkfan4} here, got wb and some of leh, thx
[12:03] {patience} watching gold price, and u.s. financials....good scalping today though :)
[12:03] {Threei} WB shook out second half
[12:06] {Threei} Barney Frank on CNN
[12:07] {Threei} this is crisis of confidence, there is no solvency problem at FRE and FNM
[12:10] {Threei} 10 break worth another short try on WB if stays under 10.15
[12:11] {hawkfan4} watching it
[12:13] {Threei} tide maybe changing
[12:14] {Threei} backing away from shorting financials for the time being
[12:15] {Threei} not ready for long yet but lost conviction in short direction
[12:15] {Threei} LEH long .61 if holding above .45
[12:18] {Threei} FNM .11 long if stays above 10
[12:20] {magoo} in leh..in fnm
[12:21] {dino} v sm l rimm wide
[12:21] {dino} .70
[12:21] {Threei} this grinding out resistance so close to support looks fine to me
[12:21] {Threei} risk is small
[12:21] {Threei} and support held long enough to change the bias
[12:21] {Threei} LEH over 1:1 for scalper
[12:22] {Threei} FNM over 1:1 for scalpers
[12:25] {Threei} mama mia... just noticed FED
[12:25] {Threei} look at daily
[12:26] {Threei} what kind of mess are we in when so many of them go from 40-70 to under 5
[12:31] {dino} a big one
[12:50] {Chaeron} .
[12:51] {magoo} ..
[12:53] {Threei} all good points
[12:54] {magoo} anything to add?
[12:54] {Chaeron} +
[12:55] {Threei} FNM
[12:55] {Threei} 10 break long
[12:55] {Threei} stop under .85
[12:56] {Threei} LEH .90 long
[12:57] {Threei} yikes
[12:57] {dptl} stopped fnm
[12:57] {Threei} not sure what this drop is about, shake or another round of news somewhere
[12:58] {Threei} LEH and FRE hold, seems FNM specific
[13:06] {patience} what did MTB do?
[13:06] {Threei} bank
[13:06] {Threei} that says it all :)
[13:07] {patience} daily chart looks a little grim
[13:15] {Threei} FNM relentless selling
[13:24] {magoo} took leh
[13:24] {magoo} off 14
[13:24] {Threei} why that far from trigger?
[13:25] {magoo} it was having trouble..thoiugt 14 would get it goiung
[13:25] {Threei} SOLF
[13:25] {Threei} ADJUSTS Q1 EARNINGS TO $0.30 FROM $0.32; NO CHANGE IN 2008 BUSINESS OUTLOOK - FILING
[13:25] {Threei} - One of the Company’s polysilicon suppliers to whom it advanced $1.8 million for raw materials has failed to deliver agreed-upon quantities by the due dates.
[13:25] {Threei} - reminder: on 5/21, Reported Q1 $0.32 v $0.16e, R $171M v $142Me
[13:26] {Threei} FOX PITT SUGGESTS LEH SHOULD BE TAKEN PRIVATE AS HAS BEEN TARGETED BY THE 'FEAR TRADE'
[13:29] {dino} in the end, only gs will be standing
[13:31] {patience} i swear i hear sovereign wealth funds hovering, waiting to swoop in
[13:31] {Threei} great... we are for sale
[13:32] {dino} me too patience, and gs, and a few private funds for smaller fish
[13:33] {patience} vad, do you see a cup and handle on KGC? or is it me wishful thinking
[13:34] {Threei} there is... I just don't know how much we can rely on these things right now
[13:35] {patience} ty, it has been a decent trading day for me. I just keep looking over my left shoulder, then my right. Asking where did everybody go?}
[13:37] {Threei} I stopped even looking... I accepted as a cold hard fact that people simply don't want to talk to me
[13:38] {dino} i'm just not doing much today
[13:40] {Chaeron} I don't know if today is a charge ahead and do a lot type of day, so you appear wise to me, Dino
06[13:42] * Chaeron slaps laserdave1 around a bit with a large trout
[13:42] {dino} me wise....not! lol
[13:42] {dino} cautious, yes
[13:43] {magoo} only thing wise about dino is the bag of chips in his hand
[13:44] {dptl} mmsi?
[13:44] {Threei} US PRES BUSH CONFIRMS LIFT OF EXECUTIVE BAN ON OFFSHORE DRILLING, CONDEMNS THE 'LACK OF ACTION' BY CONGRESS ON THE ISSUE
[13:45] {Threei} thin dp... chart looks right but it doesn't take much to move it either weay
[13:45] {dptl} ok ty
[13:45] {dino} lol magoo
[13:47] {magoo} we bouincing on that vad??
[13:47] {Threei} nah
[13:48] {Threei} that's pretty much non-event in terms of today's trading
[14:01] {magoo} LAZERDCC
[14:08] {laserdave1} ok
[14:08] {Threei} took MMSI dp?
[14:09] {dptl} yep +.17
[14:09] {Threei} :)
[14:11] {Threei} barring new news items, looks like better bounce time for financials
[14:11] {Threei} Iooking for pullback to buy
[14:11] {Threei} FNM as close to 10 as possib;e
[14:13] {Threei} anywhere under .20
[14:14] {Threei} SENATE MAJORITY LEADER REID REITERATES PLANS TO PASS BILL TO CURB SPECULATION IN THE COMMODITIES MARKET
[14:14] {Threei} in FRE
[14:15] {Threei} probably missed FNM
[14:15] {magoo} u mean FNM correct?
[14:15] {Threei} ?
[14:16] {magoo} never mind
[14:16] {magoo} i gtchsa
[14:16] {Threei} FRE pulled from 7.25 to 7.07
[14:16] {kazaam} long fre? under .20?
[14:17] {Threei} no kaz, don't chase
[14:17] {Threei} under .20 was for FNM
[14:17] {Threei} FRE dropped right at that moment, was available at .08 - .10
[14:17] {Threei} close enough to 7 support
[14:25] {Threei} out FRE
[14:26] {Threei} ugh... why didn't FNM let us in
[14:28] {Threei} really hesitated to enter it around .30, hate the idea of chasing anything today
[14:28] {Threei} market is incredible fragile
[14:28] {hawkfan4} FRE nice vad, thx.
[14:28] {Threei} welcome
[14:28] {Threei} held for better exit than I did?
[14:28] {hawkfan4} no, took .31
[14:29] {Threei} wow... that was gutsy
[14:29] {hawkfan4} i mean for my exit, got .12 for entry
[14:34] {Threei} oh
[14:34] {Threei} sorry, misunderstood :)
[14:35] {Threei} than both our exits were, ummm
[14:35] {Threei} less than brilliant
[14:35] {hawkfan4} after my week off my brain hasn't quite hit it's stride, shaking off the effects of too many margaritas
[14:37] {dino} ahhh, that explains alot
[14:37] {hawkfan4} :)
[14:39] {Threei} hate it when I get a right read and don't utilize it
[14:39] {Threei} [14:11] {Threei} barring new news items, looks like better bounce time for financials
[14:40] {Threei} 30 minutes later they show respectable gowth, and all I have to show for it is 20 cents?
06[14:40] * Threei slaps Threei around a bit with a large trout
[14:42] {Threei} WM looks to me like new lows are in order
[14:47] {Threei} right on que
[14:47] {Threei} anyone shirted}
[14:47] {Threei} shorted
[14:47] {Threei} ?
[14:47] {Threei} don't cover it all IMO
[14:48] {magoo} nope
[14:48] {Threei} it's going lower
[14:49] {Threei} hard to tell where resistance is... bounces are shortable on it
[14:49] {Threei} well, clean resistance is .50 obviously... but there is not much technical in how it trades
[14:50] {Threei} WM looks to me not just one of beaten... rather as one going belly up
[14:50] {hawkfan4} 14:46 WM Washington Mutual ticks lower as Cramer on CNBC says he would hold off on buying WM, partially due to IndyMac's fold (31.17 -1.78) -Update-
[14:51] {Threei} hmmm
[14:51] {Threei} for once I agree with him
[14:51] {Threei} that's disturbing
[14:51] {Threei} given his recent history, maybe I am wrong on WM {GGG}
[14:53] {Chaeron} LASERDAVE DCC?
[14:54] {Threei} US REP MARKEY IS PROPOSING A BILL THAT WOULD MANDATE REMOVING 500K BBL/MONTH FROM THE SPR FOR SIX MONTHS
[14:54] {Threei} {USO }
[14:54] {Threei} hmm?
[14:54] {Threei} what's the point of it?
[14:54] {Chaeron} (you gotta admit, that's a cool nick to have in reallife... wonder if his friends and gf calls him that?)
[14:54] {Chaeron} smoke and mirrors, Threei
[14:55] {Threei} hehe, no doubt
[14:55] {Threei} but even in that, what would it accomplish?
[14:55] {Chaeron} add a pretty magician's assistant aned the public goes "ooooooooo..."
[14:56] {Chaeron} it's an election year?
[14:56] {Threei} some say so
[14:56] {dino} well at least gov't would make $ on it, they filled it much lower
[14:56] {Threei} how very nice for them
[14:57] {Chaeron} sure... buy low... sell much higher... and the govt is persecuting "speculators....
[14:57] {Threei} with all "start drilling, take oil from SPR"... price isn't retreating
[14:57] {Threei} what does it mean for the next oil move?
[14:58] {Threei} right... up, up and away
[14:58] {patience} cha ching in my pockets
[15:14] {Threei} sharp selling under 10 should give entry on FNM
[15:22] {dino} spike
[15:22] {magoo} NEWS vad??
[15:22] {magoo} spike
[15:23] {Threei} not tat I see
[15:25] {magoo} u see a putty tat?
[15:28] {Chaeron} i did
[15:32] {dptl} have a good evening all
[15:32] {Chaeron} bye dp
[15:32] {dino} u2 dp
[15:33] {Threei} take care dp
[15:33] {kazaam} cya dp
[15:33] {Threei} FNM .35 support, .50 level to break for another leg up
[15:35] {kazaam} whippy little guy
[15:40] {patience} out of Kinross ( (K), +.92 don't plan on being in much before Mr. Bernanke tomorrow
[15:41] {Threei} now with market drop we may get that under 10 dive... although I am not so sure it's worth a try for bounce
[15:41] {Chaeron} so short the 10 break?
[15:42] {Threei} nah
[15:42] {Chaeron} awww
[15:52] {Threei} nothing inspires me for the last scalp attempt here
[15:52] {Threei} WM will be on watch for short tomorrow
[15:52] {Threei} the rest is, well, players but who knows which way and at what levels
[15:53] {Threei} will be anothr day, another read deal
[15:54] {Threei} this is FNM drop I wanted
[15:54] {Threei} just too close to eod
[15:58] {Threei} OK guys, thank you all
[15:58] {Threei} have a good evening, let's get'em tomorrow
[15:59] {patience} Excellent day, ty vad
[15:59] {Chaeron} thank you Threei
[16:01] {dino} gj patience
[16:01] {dino} took fwlt from thurs off +1.00
[16:03] {patience} thanks dino, credit to vad for teaching me how to trade
[16:12] {dino} same here
Monday, July 14, 2008
Friday, July 11, 2008
Jul 11 2008
Session Time: Fri Jul 11 00:00:00 2008
[08:30] {Threei} UN IMPORT PRICE INDEX M/M: 2.6% V 2.0%E; Y/Y: 20.5% 18.6%E
[08:31] {Threei} APR TRADE BALANCE: -$59.8B V -$62.5BE
[08:31] {Threei} - Prior revised from -$60.9B to -$60.5B
[08:48] {brian3579} gm all
[08:48] {Threei} brian :)
[08:48] {Threei} [15:39] {Threei} who wants to own this stock overnight
[08:49] {Threei} that was about FNM
[08:49] {Threei} Raven... is this the end of the world this time?
[08:51] {Raven} 3 oh sure
[08:51] {Raven} 3 just another end
[08:51] {Threei} I am not even sure I am kidding this time... :)
[08:51] {cosmo} its the end of the week i think
[08:51] {Threei} I mean, looking at FNM/FRE situation,
[08:51] {Raven} 3 checking that
[08:52] {Raven} 3 you're right, cosmo :)
[08:52] {Threei} if they falter, which seems like real possibility more and more
[08:52] {cosmo} phew
[08:52] {Raven} 3 I know
[08:52] {Threei} we have two scenarios
[08:52] {Threei} Either-
[08:52] {Threei} 1. FRE and FNM face failure, and either whole system goes to the hell leaving financial pyramid in ruins and America without financing, killing the lifestyle for a middle class, chasing away well-off and taking poor to the streets with sticks and stones;
[08:52] {magoo} morning
[08:52] {Threei} or
[08:53] {Threei} magoo :)
[08:53] {Threei} 2. Goverment bails FRE/FNM out, leaving shareholders with zero, putting their GSEs on taxpayers shoulders, sending USD to the crapper, sskyrocketing oil and inflation, creating huge moral hazard
[08:53] {Threei} correct me if you see where I am wrong
[08:53] {Threei} I will be more than happy to stand corrected
[08:54] {Raven} 3 Govt will bail them out ... no choice
[08:54] {cosmo} then flea to costa rica?
[08:54] {Threei} it means oil in the sky, inflation turning into hyperinflation, probably downgrade of USA credit
[08:55] {cosmo} bananas for every meal....
[08:55] {Raven} 3 perhaps, but it'll all shake out after a couple of weeks
[08:56] {Threei} I wish I was that optimistic
[08:56] {Raven} 3 best to put in your earplugs and don't read the noise in the papers
[08:56] {Raven} 3 blahblahblah
[08:56] {Threei} lol, it's not papers
[08:57] {cosmo} wires
[08:57] {Threei} mass media if anything downplays the scalee of crisis
[08:57] {Threei} there is just one silver lining that I see
[08:57] {Threei} the amount of money invested in US is not easy to place somewhere else
[08:58] {Raven} 3 exactly
[08:58] {cosmo} don't touch that silver lining; you'll get a shock
[08:58] {Raven} 3 and the US consumer is a powerful force
[08:58] {Threei} thanks to credit
[08:58] {Raven} 3 not altogether
[08:58] {Threei} and confidence
[08:59] {Threei} both are under attack
[08:59] {Raven} 3 most people have absolutely no clue that there is any problem except the price of gas
[08:59] {Threei} that's our only hope
[08:59] {Raven} 3 (and some food)
[08:59] {Threei} crisis of perception would be a final nail
[09:01] {Threei} I don't have your perspective naturally... to me it feels like the worst crisis US faced
[09:01] {Threei} perfect storm
[09:03] {cosmo} ... not too wet; not too windy...
[09:03] {cosmo} i'm optomistic
[09:04] {Threei} send me some please
[09:04] {magoo} this may be the complete washout mkt players have been wanting looking for to signal bottom
[09:05] {cosmo} babies and bath water everywhere is the sign
[09:05] {dptl} good morning all
[09:05] {Threei} dp :)
[09:05] {magoo} was there new news vad on fre/fnm??
[09:05] {Threei} mags, having weekend ahead of us is a restraining factor
[09:06] {Threei} now many want to hold long into such weekend
[09:06] {magoo} new news this morn??
[09:06] {Threei} no real news, just volume increase on bailaout discussion
[09:06] {Threei} which leaves common stock at zero most likely
[09:06] {Raven} 3 big piece in WSJ about govt bailout of FNM, FRE
[09:06] {magoo} why would MA be up then??
[09:07] {Raven} 3 because your wife went on a spree magoo
[09:07] {Threei} 07/10/08 05:18pm [MA] Replacing ACE in the S&P500 and replace GM in S&P100; GM to remain in S&P500, effective after the close July 17
[09:08] {fernp} Good Morning??
[09:08] {Threei} hi fern... we will see :)
[09:08] {Threei} so far it looks like morning... "ggod" part is under question
[09:09] {Threei} I am probably last person you would expect to buy in doomsday scenarios... but this looks like absolute nightmare to me
[09:13] {fernp} U.S. weighs takeover of two mortgage giants - NY Times : The NY Times reports senior Bush administration officials are considering a plan to have the govt take over one or both of Fannie Mae (FNM) and Freddie Mac (FRE) and place them in a conservatorship if their problems worsen
[09:14] {GeoArb} long swiss francs then :)
[09:14] {fernp} your second scenario Vad
[09:15] {judijim} good morning all
[09:15] {GeoArb} yeah its going to be the second at the cost of the dollar :(
[09:17] {Threei} yes fern
[09:17] {Threei} hi jj
[09:19] {Threei} let's just hope Fed is not fully out of ammo and inventive enough to come up with third way
[09:19] {Threei} FRE under 4
[09:20] {Threei} let's be very careful, sensitivity to news is extraordinary
[09:21] {Threei} any soundbite can send a stock far from your entry price if you are unlucky enough to enter before news, on any side long or short
[09:21] {Threei} fade of extreme moves for scalp is probably the name of the game today
[09:24] {magoo} vad, i thought market wanted fed to intervene on those two?
[09:25] {Threei} intervene, yes, but to bail them out?
[09:25] {magoo} im confused lol
[09:25] {Threei} intervene by making them liquid and stay in the game is one thing
[09:25] {Threei} nationalize them is another
[09:29] {Threei} oil, mama mia
[09:31] {fernp} Crude oil jumps to another new record high; now +5.55 at 147.20
[09:31] {Threei} short FRE half lot .49
[09:31] {Threei} .65 stop
[09:31] {Threei} a bit late...
[09:31] {Threei} see if we get a bounce
[09:32] {magoo} was wondering if u filled
[09:32] {Threei} no
[09:32] {Threei} now I am
[09:32] {Threei} .47
[09:33] {Threei} out .21
[09:33] {Threei} anyone got it on bounce into .50?
[09:33] {magoo} missed
[09:33] {tomg} i got it, vad, ty
[09:34] {tomg} out
[09:34] {Threei} gj tom
[09:34] {Threei} a bit early exit but heck
[09:34] {tomg} out .22
[09:34] {Threei} FNM holding rather well
[09:36] {Threei} wow, nice bounce
[09:36] {Threei} I chickened out
[09:38] {Threei} 4.51 long FRE if stays above .30
[09:38] {Threei} half lot, needless to say
[09:40] {Threei} stopped
[09:42] {Threei} rinse
06[09:42] * Threei slaps laserdave1 around a bit with a large trout
[09:43] {laserdave1} the good morning slap
[09:43] {laserdave1} thought i would catch you off guard
[09:43] {Threei} you can always count on it
[09:43] {laserdave1} hmmm
[09:43] {laserdave1} guess not
[09:44] {Threei} anyone ventured for second chance?
[09:45] {Threei} PREVIEW: JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE INDEX DUE OUT AT 9:55AMET
[09:45] {Threei} **consensus expectation: 55.5e v 56.4 prior
[09:45] {Threei} *prior inflation expectations:
[09:45] {Threei} - 1 yr median inflation expectations in June at 5.1%
[09:45] {Threei} - 5 yr median inflation expectations in June at 3.4%
[09:48] {Threei} WHITE HOUSE SAYS PAULSON TO MAKE A STATEMENT ON GSES
[09:49] {Threei} looks like FNM is a guide for FRE
[09:49] {Threei} this FRE pullback is entry
[09:49] {Threei} stop under .50
[09:49] {Threei} big spike FNM
[09:50] {Threei} if you got .75 or so, feel free to take profit as you see fit
[09:52] {Threei} not sure this time
[09:53] {Threei} let's wait out michigan numbers
[09:55] {Threei} JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 56.6 V 55.5E
[09:56] {Threei} .70 long FNM
[09:56] {Threei} stop under .50
[10:02] {Threei} tough battle
[10:08] {Threei} LEH short around here
[10:08] {Threei} stop above .25
[10:09] {Threei} feel free to cover
[10:10] {Threei} another entry, stop above .30 this time
[10:11] {Threei} S&P ANALYST: A TAKEOVER OF THE GSES WOULD NOT BY ITSELF TRIGGER A DOWNGRADE OF US AAA RATING
[10:14] {Threei} not sure of entry this time
[10:16] {Threei} wowe
[10:16] {Threei} looks news-provoked
[10:16] {Threei} don't see any
[10:17] {Threei} OK, break your silence... anyone took any of these shorts?
[10:18] {Threei} I think I can go on weekend, no one talks to me anyway
[10:19] {patience} sorry vad, i didn't take the shorts. I'm just smiling because my gold plays are very happy :)
[10:19] {tomg} i was in fre long, got out when you called leh short. does that count? :)
[10:20] {Threei} why not... as long as someone noticing I am here at all {G}
[10:20] {tomg} glued to screen today, vad :))
[10:20] {Threei} can't blame you... rare action
[10:21] {Threei} FNM short with stop above .50 idea but want a bounce
[10:21] {Threei} somewhere above .20 desirably
[10:21] {tomg} made my daily on your first call, so now can relax a bit. interesting to watch battle
[10:21] {Threei} :)
[10:22] {Threei} FNM got away, no chance for entry
[10:22] {Threei} FRE however
[10:22] {Threei} .65 resistance
[10:22] {Threei} .50 break maybe worth a try
[10:23] {Threei} watch FNM for guidance
[10:25] {Threei} wow
[10:25] {Threei} out
[10:25] {Threei} US TREASURY'S PAULSON: FOCUS IS ON BACKING FRE AND FNM IN CURRENT FORM, REGULATORS IN TALKS WITH GSES
[10:25] {Threei} that's long IMO
[10:25] {Threei} in current form is key words
[10:26] {Threei} want FNM bounce
[10:26] {Threei} as close to .50 as possible
[10:27] {Threei} tried to bid .60, no chance
[10:27] {Threei} not this time
[10:27] {Threei} will lose .50
[10:28] {Threei} things change too fast to comment real time, lol
[10:29] {Threei} EQUITIES AND THE DOLLAR MOVE LOWER AFTER TREASUY SEC PAULSON'S STATEMENT PROVIDES LITTLE IF ANY DETAILS OF A SPECIFIC BAILOUT PLAN
[10:30] {Threei} MOODY'S SAYS US GOV'T DEBT WELL WITHIN AAA RANGE
[10:31] {Threei} this last round of selling is unjustified IMO
[10:32] {Threei} FRE looking for bounce
[10:33] {Threei} out if you got it
[10:33] {Threei} guys, quick traders have to grab entries as instincts guide them
[10:33] {Threei} there is no way I can alert in time
[10:34] {Threei} very liquid situation
[10:34] {Chaeron} GM all... chaos rules today I see
[10:34] {Threei} if you don't feel confident,enough for entries, paper trade
[10:34] {Threei} hi chaeron
[10:35] {Threei} I barely manage to give an idea of a trade
[10:35] {Threei} exact entry, no way
[10:36] {Threei} FNM dollar bounce
[10:38] {Threei} FNM around .50 should be another long entry
[10:39] {Threei} UPDATE: CITIGROUP COMMENTS THAT FANNIE AND FREDDIE SELL OFF IS NOT DUE TO FUNDAMENTALS; REITERATES BUY RATING
[10:41] {Threei} feel free to exit
[10:41] {Threei} +.23 for me
[10:41] {Threei} no takers?
[10:42] {Threei} sigh
06[10:42] * Threei slaps laserdave1 around a bit with a large trout
[10:42] {Threei} and while I am at it
06[10:42] * Threei slaps magoo around a bit with a large trout
06[10:43] * Chaeron slaps laserdave1 around a bit with a large trout
06[10:43] * Chaeron slaps magoo around a bit with a large trout
[10:43] {Threei} thank you chaeron
[10:44] {Threei} disconnect between FRE/FNM and LEH
06[10:44] * Chaeron slaps Threei around a bit with a large trout
[10:45] {Threei} oh great
[10:45] {Threei} I thought I had an ally... turns out he just slaps people by pure reflex {G}
[10:46] {Threei} told ya that last round of selling was unwarranted
[10:46] {tomg} out fnm 8.01 , ty vad
[10:47] {Threei} from?
[10:47] {Threei} .55 or so?
[10:47] {tomg} .62
[10:47] {Threei} :)
[10:47] {Threei} not bad for 12-15 cents original stop size
[10:48] {tomg} yep :)
[10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[10:49] {Threei} findin g entry is still not easy... pullbacks into obvious support levels is the best approach
[10:49] {Threei} much like this last pullback on FNM from 8 to 7.50
[10:49] {Threei} so lwet's try and identify them
[10:49] {Threei} 8 is closest support for FNM
[10:49] {Threei} 4.70 for FRE
[10:50] {Threei} right now more negative action on LEH than on this couple
[10:51] {Threei} how about that FNM
[10:54] {tomg} xlf resistance 18.65?
[11:00] {tomg} now support
[11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:01] {tomg} xlf long here, vad?
[11:02] {Threei} after pullback...
[11:02] {Threei} it has much narrower range
[11:02] {tomg} ok, ty
[11:03] {Threei} plus, XLF has other financials weighing on it
[11:05] {Threei} FNM at support
[11:05] {Threei} FRE is not yet
[11:07] {Threei} FNM bounced right on que
[11:07] {Threei} FNM still pulling back
[11:07] {Threei} FRE sorry
[11:08] {Threei} FRE needs to be closer to 5.10
[11:12] {Threei} in, stop under 4.90
[11:12] {Threei} got 5.03
[11:12] {Threei} right on que
[11:13] {Threei} out
[11:13] {Threei} +.24
[11:13] {Chaeron} I scalped .14 out of it.,.. thanks
[11:13] {Threei} :)
[11:13] {patience} you are having a good day vad, shows why scalping pays
[11:14] {tomg} got it vad, TY !
[11:14] {Chaeron} we're in scalping mode again here
[11:14] {Threei} tom :)
[11:14] {Threei} getting out too soon every time patience... but somehow don't feel bad about it
[11:14] {patience} not when the cash register rings time and time again
[11:15] {Threei} no
[11:15] {Threei} keeping stops tight, taking easy profits
[11:17] {magoo} back
[11:17] {Threei} you left?
[11:17] {magoo} sorry, tenant called and tree split down middle
[11:18] {Threei} ugh
[11:18] {magoo} enmergency tree removal or smashed house roof
[11:18] {Chaeron} lightning? wind?
[11:18] {Threei} missed some bonanza
[11:18] {magoo} god dammit
[11:18] {magoo} big bux
[11:18] {Chaeron} yeah mags... even I made $
[11:19] {Chaeron} easy bro... more to come... as always
[11:21] {Threei} FNM, need pullback closer to 9 now for entry
[11:22] {Threei} FRE no read here
[11:22] {magoo} ok, well, what could i do..trying to get tree guy there now...or lose roof of entire house..
[11:23] {magoo} fnd me only winners vad, ok cause i missed your earliers
[11:23] {Threei} just did
[11:25] {Threei} out .20 from .03
[11:25] {Chaeron} missed here
[11:25] {Chaeron} mags.. dcc
[11:26] {Threei} second chance worked again
[11:26] {Threei} if goes to 9 again do not take it this time
[11:28] {Threei} you caught it magooski?
[11:30] {magoo} i though yuo saids do not take it
[11:30] {magoo} sheesh
[11:30] {Threei} .20 - .30 zone support now FNM
[11:30] {Threei} I said do not take it third time
[11:31] {Threei} it hit 9 twice and bounced every time
[11:31] {Threei} third would be a breakdown
[11:31] {magoo} crap..reach in computer and push the buy/sells for me lol
[11:32] {Threei} jump right off .30
[11:32] {patience} dow below 11,000, hmmm
06[11:33] * Chaeron dusting off DOW 10K party hat...
[11:33] {Threei} wow, I didn't even notice
[11:33] {Threei} too much fun with freddie kruger and his girlfriend fannie
[11:34] {Threei} same situation repeated exactly on FNM,
[11:34] {patience} do you realize China is top foreign holder of freddie and fannie bonds
[11:34] {Threei} second bounce off ,.30 worked
[11:34] {patience} interesting times vad
[11:34] {Threei} if goes there third time do not take it
[11:35] {Threei} I hate interesting times
[11:35] {judijim} good morning all
[11:35] {Threei} jj :)
[11:36] {Threei} 5.50 FRE support now
[11:38] {Threei} FNM asiming for 10
[11:38] {patience} IndyMac halted vad?
[11:38] {Threei} .75 important level to take
[11:39] {Threei} hmm
[11:39] {Threei} no halt news
[11:39] {Threei} let me check halt website
[11:40] {Threei} nope... not listed there
[11:40] {patience} ty, sorry to interrupt
[11:40] {Threei} the price and the way it trades though, ikt could be halted just as well, lol
[11:41] {Threei} 10 FNM
[11:41] {Threei} let me reiterate:
[11:41] {Threei} [11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:42] {Threei} now I'll stop patting myself on the back to prevent severe shoulder dislocation
[11:43] {Threei} magooevsky... tell me you got it this time
[11:43] {magoo} nope ..sigh
[11:43] {Chaeron} got what? where?
[11:44] {Threei} [11:38] {Threei} FNM asiming for 10
[11:44] {Threei} [11:38] {Threei} .75 important level to take
[11:44] {Threei} [11:39] {Threei} hmm
[11:44] {Chaeron} shoot
[11:44] {Threei} you guys don't pay attention at all?
[11:44] {Chaeron} freakin' phone
[11:45] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD"
[11:46] {magoo} any read RIMM vad?
[11:46] {Threei} no
[11:50] {Threei} this pullback is probably last long ewntry for bounce
[11:50] {Threei} after that either switching to shorts or going on a sideline
[11:52] {Threei} FNM is ready
[11:52] {Threei} .81 long
[11:52] {Threei} if stays above .65
[11:53] {Threei} out
[11:55] {Chaeron} me too. thanks... in .82 out 10
[11:55] {magoo} caught that one .78 to .97
[11:55] {Chaeron} good job mags
[11:55] {Threei} whew
[11:56] {Threei} just when I decided to lock you both out of the room for ignoring me
[11:56] {Chaeron} mags, did someone just say something?
[11:56] {Threei} on second thought... I am happy to be ignored
[11:57] {Threei} carry on :)
[11:59] {magoo} no here chaer..nothing
[11:59] {magoo} BUSH on tv
[11:59] {magoo} breaking news
[12:00] {Threei} ?
[12:00] {magoo} on fre fnm
[12:00] {magoo} coming up
[12:00] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD," THE GSES ARE "IMPORTANT INSTITUTIONS"
[12:00] {Threei} - Notes that oil prices are high because demand is outstripping supply, urges congress to open new areas for oil exploration before its summer break
[12:00] {Threei} same or something new...
[12:01] {magoo} he gonna be on cnbc
[12:01] {magoo} could move markets
[12:05] {Threei} I am skipping this stage of run on FRE
[12:05] {Threei} can't read it here
[12:05] {Threei} eay money is made
[12:05] {Threei} Bush is on
[12:06] {Threei} it's the same speech I quoted earlier
[12:07] {Threei} wow... magoo, you watching?
[12:07] {Threei} heard camera clicks just now?
[12:07] {Threei} same sound we have for Laser executions :)
[12:08] {Threei} oh, I forgot, I am on ignore
[12:08] {magoo} :)
[12:09] {Threei} reluctantly:
[12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:09] {Threei} FRE closest resistance .35
[12:10] {Threei} FNM 10
[12:10] {kazaam} break of .70 on FNM?
[12:10] {Threei} no, I'd oprefer a bounce closer to resistance
[12:10] {Threei} aggressive entry
[12:10] {Threei} making stop as tight as possible
[12:11] {Threei} here are bounces
[12:11] {Threei} any spot now where you feel it turns
[12:12] {Threei} in FNM
[12:12] {Threei} .15 stop
[12:13] {Threei} got .04... 1:1 was easy but I got greedy
[12:13] {Threei} let's see if I was wrong
[12:14] {Threei} lose .90 FNM, and you are toast
[12:15] {Threei} ok, first part of the plan... now turn into toast please
[12:16] {Threei} stubborn thing
[12:16] {Threei} die already
[12:17] {Threei} over 1:1... if you are uncomfortable, cover half
[12:17] {Threei} I want to milk it for more
[12:17] {kazaam} i cover havl at now
[12:17] {Threei} ahha... good boy
[12:17] {Threei} wait... FNM is a girl
[12:17] {Threei} FRE is a boy
[12:18] {Threei} covered half .76
[12:18] {Threei} +.28
[12:18] {Threei} why didn't I short FRE btw
[12:18] {kazaam} yep yep, wish i was more aggressive like you, i didnt have my hunting cap on
[12:18] {Threei} [12:09] {Threei} FRE closest resistance .35
[12:18] {Threei} hit .30 on bounce
[12:19] {Threei} focused on FNM too much
[12:19] {Threei} bidding .55
[12:19] {Threei} FNM
[12:20] {Threei} to cover, not for long entry!
[12:20] {Threei} stop 10.01
[12:22] {Threei} stop to .81
[12:24] {Threei} direct hit
[12:24] {Threei} out +.49
[12:24] {Threei} [11:50] {Threei} this pullback is probably last long ewntry for bounce
[12:24] {Threei} [11:50] {Threei} after that either switching to shorts or going on a sideline
[12:25] {Threei} [12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:25] {Threei} did I get the best read of the month on them or what today
[12:26] {magoo} yup
[12:27] {magoo} but fate had other plans for magoo
[12:27] {Threei} argh
[12:29] {magoo} your best pirate imitation?
[12:30] {magoo} AAAARRRRRRRRRRRRR
[12:30] {Threei} hehe
[12:31] {Threei} ok guys, how are we doing today? I need some feedback, you are way too silent
[12:31] {Threei} finding your entries and exits, can't get it right, simply sleepiong... which is it?
06[12:31] * kazaam thanks vad for his only and most profitable trade all week
[12:31] {Threei} sounds good
[12:32] {Chaeron} best day I've had in a while
[12:32] {patience} terrific day vad
[12:32] {Threei} that's what I love to hear
[12:34] {magoo} im up..but not daily
[12:34] {magoo} 3 times daily yesterday {again}
[12:36] {magoo} whaaa??u ignoring me??
[12:36] {Threei} would be interesting to find out how magoo did yesterday... too bad we don't hear from him
[12:42] {magoo} aapl bounce vad??
[12:46] {Threei} can't get feel on it
[12:47] {kazaam} CEDC? I cant understand if that price action is bullish or bearish
[12:48] {Threei} mostly bullish, it's just very thin
[12:49] {Threei} FNM looks like short entry again
[12:50] {Threei} .50 closest resistance
[13:01] {Threei} anyone's in and needs guidance?
[13:08] {magoo} i am
[13:09] {Threei} price?
[13:09] {magoo} morale
[13:09] {Threei} ah
[13:09] {Threei} ok
[13:09] {Threei} thou shalt not:
[13:09] {Threei} -buy fast dropping stocks
[13:09] {Threei} -shot fast rising stocks
[13:09] {Threei} -blow one's stops
[13:10] {Threei} -double down on losing position
[13:11] {Threei} -covet neighbour's trading account
[13:12] {Threei} -worship false TV gurus
[13:12] {Threei} how's that for guidance?
[13:14] {kazaam} I am guilty, 3 out 6, where do I send money?
06[13:15] * patience slaps Threei around a bit with a large trout
[13:15] {Threei} don't bother... if those are first three, your money will be taken from you with no other action on your part
[13:15] {Chaeron} wow
[13:15] {Threei} what did I do?
[13:15] {kazaam} goodie, very effiecent system
[13:15] {Chaeron} patience... nice shot... and you don't practice even
[13:18] {magoo} practice?practice i hear?
[13:20] {Threei} tide is changing again on FRE/FNM but volume is very questionable
[13:20] {Threei} no read
06[13:21] * magoo slaps patience around a bit with a large trout
[13:22] {magoo} practicing:)
[13:22] {patience} ty magoo :)
[13:26] {patience} ok, quick change of subject for you guys....has anyone taken the train from Le Havre into Paris?
[13:27] {magoo} is that in upstate new york?
[13:27] {patience} vad, help me out here with magoo
[13:27] {Threei} easy
06[13:27] * Threei slaps magoo around a bit with a large trout
[13:27] {patience} ty
[13:27] {Threei} always
[13:28] {Threei} I guess fern is closest to that area
[13:28] {Threei} unless omnipresent Raven flies over there now and then
[13:28] {patience} ok, i guess you guys don't take the choo choo
[13:30] {GeoArb} we all will soon :)
[13:31] {Threei} lol
[13:32] {GeoArb} gm got punished for buying all railcar companies and closing them down
[13:32] {fernp} sorry, I've been in Paris but only in Disney Land
[13:32] {GeoArb} hahahahah
[13:32] {GeoArb} i have been tp paris paris
[13:32] {GeoArb} vegas
[13:40] {Raven} 3 been in Paris Kentucky
[13:40] {Chaeron} there's Perris, CA... that count?
06[13:40] * Raven slaps Chaeron around a bit with a large trout
[13:40] {Raven} 3 no
[13:40] {magoo} i live been in pennsyltuckey
[13:40] {Chaeron} lol
[13:40] {Threei} .51 FRE if holding .40
[13:45] {Chaeron} inval'd?
[13:45] {Threei} needs to consolidate agan for a few above .40
[13:47] {Chaeron} or doesn't... lol
[13:49] {magoo} out .63 vad ty
[13:50] {Threei} :)
[13:59] {magoo} way way early
[14:01] {Threei} JUNE MONTHLY BUDGET STATEMENT: $50.7B V $34.0BE
[14:12] {Chaeron} FRE green
[14:13] {Threei} whould woluld have thought
[14:18] {Threei} drop to about 7 is bounce entry for FRE
[14:19] {Threei} SENATOR DODD: KNOW THAT THE FED AND TREASURY ARE LOOKING AT OPTIONS ON GSES INCLUDING ACCESS TO THE DISCOUNT WINDOW
[14:19] {Threei} - Dodd echoes other officials saying that the GSEs are fundamentally sound, notes the majority of mortgages held by the GSEs are solid 30Y mortgages.{FNM}
[14:21] {Threei} almost ready FRE
[14:22] {Threei} first strength from here
[14:22] {Threei} got .05
[14:22] {Chaeron} .06
[14:22] {Threei} out
[14:23] {Threei} .30
[14:23] {Chaeron} .31 + 0.25 great one... thanks Vad
[14:23] {Threei} to see 7 coming when it was around 7.70 - I am a borderline genius today
[14:23] {Chaeron} IQ of 220
[14:24] {Chaeron} again?
[14:24] {Threei} most likely second time yes
[14:24] {Threei} third no
[14:24] {Threei} wait for turn first
[14:24] {Threei} no entry on price alone
[14:24] {Threei} missed
[14:24] {Threei} whatever
[14:25] {Threei} let it go
[14:25] {Chaeron} k
[14:25] {Threei} if you got it, take scalp
[14:25] {Threei} don't get stuck
[14:25] {Chaeron} nope
[14:25] {Threei} wemotions run high again
[14:37] {Threei} I don't remember my trading list for the day to be just two stocks, and the ghottest one for the day at that
[14:37] {Threei} ones
[14:42] {Threei} I'll have to leave in 20-30 minutes guys
[14:42] {Threei} anyone got any quoestions ask them NOW
[14:42] {Threei} or forever hold your peace (at least till Monay)
[14:43] {Chaeron} did you mean Monet'?
[14:43] {Threei} monday
[14:43] {Chaeron} just checking... you knnow Senator Obama told us we have to learn Spanish and French and..... so... just checking
[14:44] {magoo} was bumped opff
[14:44] {patience} french????
[14:44] {Raven} 3 oui
[14:44] {Raven} 3 si
[14:44] {patience} pourquoi
[14:45] {magoo} bookuu magoo
[14:45] {Raven} 3 just because
[14:45] {fernp} I speak a bit of spanish
[14:45] {fernp} ole
[14:45] {patience} me too : tequila
[14:46] {Raven} 3 taco?
[14:46] {Chaeron} because we are going to have Canadians demanding French
[14:46] {Chaeron} don't want them to feel left out, do we?
[14:46] {patience} if majority of canadians refuse to learn one of their officials and we are 'nice' people
[14:47] {patience} lots of luck
[14:47] {patience} we are not 'nice' people
[14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW - UNCONFIRMED REPORT
[14:47] {Threei} - note: Senator Dodd made a similar comment earlier{FRE}
[14:47] {Chaeron} I know... ask me about my ex-wife
[14:47] {patience} oh
[14:47] {GeoArb} lol
[14:48] {GeoArb} that was out of nowere
[14:48] {magoo} vad, u in next week?
[14:49] {Threei} sure
[14:50] {kazaam} why 100 points in .0005 seconds?
[14:50] {Chaeron} man... is FNM going to close green?
[14:51] {patience} good question kazaam
[14:51] {GeoArb} fnm fre got capitalized i guess
[14:54] {Raven} 3 Benny told FNM and FRE that they are eligible for discount window
[14:54] {Threei} [14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW
[14:54] {GeoArb} i guess me going to paris is going to get more expensive in dollars :(
[14:54] {Threei} anyone pays any attention to me whatsoever??? :)
[14:54] {magoo} huh??
[14:54] {GeoArb} you using white fonts vad?
[14:55] {Threei} stop using whiteout on your LCD screen
[14:56] {magoo} if mkt closes green ill cut my wrists with a banana
[14:57] {Threei} I suggest eating keyboard
[14:57] {Threei} at least some nutrition
[14:59] {magoo} jesus..this is retarded...only 76 down
[14:59] {magoo} 66
[14:59] {magoo} 59
[14:59] {Threei} Ok guys, thank you all
[14:59] {Threei} have a great relaxing weekend
[15:00] {magoo} ty vad, nice job
[15:00] {fernp} today we have seen the best Vad. Thank you for everything
[15:00] {Threei} no end of the world today but next week will bring a few more
[15:00] {Threei} thank you fern
[15:00] {Threei} see you all on Monday
[15:00] {GeoArb} ty vad
[15:00] {fernp} bye
[08:30] {Threei} UN IMPORT PRICE INDEX M/M: 2.6% V 2.0%E; Y/Y: 20.5% 18.6%E
[08:31] {Threei} APR TRADE BALANCE: -$59.8B V -$62.5BE
[08:31] {Threei} - Prior revised from -$60.9B to -$60.5B
[08:48] {brian3579} gm all
[08:48] {Threei} brian :)
[08:48] {Threei} [15:39] {Threei} who wants to own this stock overnight
[08:49] {Threei} that was about FNM
[08:49] {Threei} Raven... is this the end of the world this time?
[08:51] {Raven} 3 oh sure
[08:51] {Raven} 3 just another end
[08:51] {Threei} I am not even sure I am kidding this time... :)
[08:51] {cosmo} its the end of the week i think
[08:51] {Threei} I mean, looking at FNM/FRE situation,
[08:51] {Raven} 3 checking that
[08:52] {Raven} 3 you're right, cosmo :)
[08:52] {Threei} if they falter, which seems like real possibility more and more
[08:52] {cosmo} phew
[08:52] {Raven} 3 I know
[08:52] {Threei} we have two scenarios
[08:52] {Threei} Either-
[08:52] {Threei} 1. FRE and FNM face failure, and either whole system goes to the hell leaving financial pyramid in ruins and America without financing, killing the lifestyle for a middle class, chasing away well-off and taking poor to the streets with sticks and stones;
[08:52] {magoo} morning
[08:52] {Threei} or
[08:53] {Threei} magoo :)
[08:53] {Threei} 2. Goverment bails FRE/FNM out, leaving shareholders with zero, putting their GSEs on taxpayers shoulders, sending USD to the crapper, sskyrocketing oil and inflation, creating huge moral hazard
[08:53] {Threei} correct me if you see where I am wrong
[08:53] {Threei} I will be more than happy to stand corrected
[08:54] {Raven} 3 Govt will bail them out ... no choice
[08:54] {cosmo} then flea to costa rica?
[08:54] {Threei} it means oil in the sky, inflation turning into hyperinflation, probably downgrade of USA credit
[08:55] {cosmo} bananas for every meal....
[08:55] {Raven} 3 perhaps, but it'll all shake out after a couple of weeks
[08:56] {Threei} I wish I was that optimistic
[08:56] {Raven} 3 best to put in your earplugs and don't read the noise in the papers
[08:56] {Raven} 3 blahblahblah
[08:56] {Threei} lol, it's not papers
[08:57] {cosmo} wires
[08:57] {Threei} mass media if anything downplays the scalee of crisis
[08:57] {Threei} there is just one silver lining that I see
[08:57] {Threei} the amount of money invested in US is not easy to place somewhere else
[08:58] {Raven} 3 exactly
[08:58] {cosmo} don't touch that silver lining; you'll get a shock
[08:58] {Raven} 3 and the US consumer is a powerful force
[08:58] {Threei} thanks to credit
[08:58] {Raven} 3 not altogether
[08:58] {Threei} and confidence
[08:59] {Threei} both are under attack
[08:59] {Raven} 3 most people have absolutely no clue that there is any problem except the price of gas
[08:59] {Threei} that's our only hope
[08:59] {Raven} 3 (and some food)
[08:59] {Threei} crisis of perception would be a final nail
[09:01] {Threei} I don't have your perspective naturally... to me it feels like the worst crisis US faced
[09:01] {Threei} perfect storm
[09:03] {cosmo} ... not too wet; not too windy...
[09:03] {cosmo} i'm optomistic
[09:04] {Threei} send me some please
[09:04] {magoo} this may be the complete washout mkt players have been wanting looking for to signal bottom
[09:05] {cosmo} babies and bath water everywhere is the sign
[09:05] {dptl} good morning all
[09:05] {Threei} dp :)
[09:05] {magoo} was there new news vad on fre/fnm??
[09:05] {Threei} mags, having weekend ahead of us is a restraining factor
[09:06] {Threei} now many want to hold long into such weekend
[09:06] {magoo} new news this morn??
[09:06] {Threei} no real news, just volume increase on bailaout discussion
[09:06] {Threei} which leaves common stock at zero most likely
[09:06] {Raven} 3 big piece in WSJ about govt bailout of FNM, FRE
[09:06] {magoo} why would MA be up then??
[09:07] {Raven} 3 because your wife went on a spree magoo
[09:07] {Threei} 07/10/08 05:18pm [MA] Replacing ACE in the S&P500 and replace GM in S&P100; GM to remain in S&P500, effective after the close July 17
[09:08] {fernp} Good Morning??
[09:08] {Threei} hi fern... we will see :)
[09:08] {Threei} so far it looks like morning... "ggod" part is under question
[09:09] {Threei} I am probably last person you would expect to buy in doomsday scenarios... but this looks like absolute nightmare to me
[09:13] {fernp} U.S. weighs takeover of two mortgage giants - NY Times : The NY Times reports senior Bush administration officials are considering a plan to have the govt take over one or both of Fannie Mae (FNM) and Freddie Mac (FRE) and place them in a conservatorship if their problems worsen
[09:14] {GeoArb} long swiss francs then :)
[09:14] {fernp} your second scenario Vad
[09:15] {judijim} good morning all
[09:15] {GeoArb} yeah its going to be the second at the cost of the dollar :(
[09:17] {Threei} yes fern
[09:17] {Threei} hi jj
[09:19] {Threei} let's just hope Fed is not fully out of ammo and inventive enough to come up with third way
[09:19] {Threei} FRE under 4
[09:20] {Threei} let's be very careful, sensitivity to news is extraordinary
[09:21] {Threei} any soundbite can send a stock far from your entry price if you are unlucky enough to enter before news, on any side long or short
[09:21] {Threei} fade of extreme moves for scalp is probably the name of the game today
[09:24] {magoo} vad, i thought market wanted fed to intervene on those two?
[09:25] {Threei} intervene, yes, but to bail them out?
[09:25] {magoo} im confused lol
[09:25] {Threei} intervene by making them liquid and stay in the game is one thing
[09:25] {Threei} nationalize them is another
[09:29] {Threei} oil, mama mia
[09:31] {fernp} Crude oil jumps to another new record high; now +5.55 at 147.20
[09:31] {Threei} short FRE half lot .49
[09:31] {Threei} .65 stop
[09:31] {Threei} a bit late...
[09:31] {Threei} see if we get a bounce
[09:32] {magoo} was wondering if u filled
[09:32] {Threei} no
[09:32] {Threei} now I am
[09:32] {Threei} .47
[09:33] {Threei} out .21
[09:33] {Threei} anyone got it on bounce into .50?
[09:33] {magoo} missed
[09:33] {tomg} i got it, vad, ty
[09:34] {tomg} out
[09:34] {Threei} gj tom
[09:34] {Threei} a bit early exit but heck
[09:34] {tomg} out .22
[09:34] {Threei} FNM holding rather well
[09:36] {Threei} wow, nice bounce
[09:36] {Threei} I chickened out
[09:38] {Threei} 4.51 long FRE if stays above .30
[09:38] {Threei} half lot, needless to say
[09:40] {Threei} stopped
[09:42] {Threei} rinse
06[09:42] * Threei slaps laserdave1 around a bit with a large trout
[09:43] {laserdave1} the good morning slap
[09:43] {laserdave1} thought i would catch you off guard
[09:43] {Threei} you can always count on it
[09:43] {laserdave1} hmmm
[09:43] {laserdave1} guess not
[09:44] {Threei} anyone ventured for second chance?
[09:45] {Threei} PREVIEW: JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE INDEX DUE OUT AT 9:55AMET
[09:45] {Threei} **consensus expectation: 55.5e v 56.4 prior
[09:45] {Threei} *prior inflation expectations:
[09:45] {Threei} - 1 yr median inflation expectations in June at 5.1%
[09:45] {Threei} - 5 yr median inflation expectations in June at 3.4%
[09:48] {Threei} WHITE HOUSE SAYS PAULSON TO MAKE A STATEMENT ON GSES
[09:49] {Threei} looks like FNM is a guide for FRE
[09:49] {Threei} this FRE pullback is entry
[09:49] {Threei} stop under .50
[09:49] {Threei} big spike FNM
[09:50] {Threei} if you got .75 or so, feel free to take profit as you see fit
[09:52] {Threei} not sure this time
[09:53] {Threei} let's wait out michigan numbers
[09:55] {Threei} JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 56.6 V 55.5E
[09:56] {Threei} .70 long FNM
[09:56] {Threei} stop under .50
[10:02] {Threei} tough battle
[10:08] {Threei} LEH short around here
[10:08] {Threei} stop above .25
[10:09] {Threei} feel free to cover
[10:10] {Threei} another entry, stop above .30 this time
[10:11] {Threei} S&P ANALYST: A TAKEOVER OF THE GSES WOULD NOT BY ITSELF TRIGGER A DOWNGRADE OF US AAA RATING
[10:14] {Threei} not sure of entry this time
[10:16] {Threei} wowe
[10:16] {Threei} looks news-provoked
[10:16] {Threei} don't see any
[10:17] {Threei} OK, break your silence... anyone took any of these shorts?
[10:18] {Threei} I think I can go on weekend, no one talks to me anyway
[10:19] {patience} sorry vad, i didn't take the shorts. I'm just smiling because my gold plays are very happy :)
[10:19] {tomg} i was in fre long, got out when you called leh short. does that count? :)
[10:20] {Threei} why not... as long as someone noticing I am here at all {G}
[10:20] {tomg} glued to screen today, vad :))
[10:20] {Threei} can't blame you... rare action
[10:21] {Threei} FNM short with stop above .50 idea but want a bounce
[10:21] {Threei} somewhere above .20 desirably
[10:21] {tomg} made my daily on your first call, so now can relax a bit. interesting to watch battle
[10:21] {Threei} :)
[10:22] {Threei} FNM got away, no chance for entry
[10:22] {Threei} FRE however
[10:22] {Threei} .65 resistance
[10:22] {Threei} .50 break maybe worth a try
[10:23] {Threei} watch FNM for guidance
[10:25] {Threei} wow
[10:25] {Threei} out
[10:25] {Threei} US TREASURY'S PAULSON: FOCUS IS ON BACKING FRE AND FNM IN CURRENT FORM, REGULATORS IN TALKS WITH GSES
[10:25] {Threei} that's long IMO
[10:25] {Threei} in current form is key words
[10:26] {Threei} want FNM bounce
[10:26] {Threei} as close to .50 as possible
[10:27] {Threei} tried to bid .60, no chance
[10:27] {Threei} not this time
[10:27] {Threei} will lose .50
[10:28] {Threei} things change too fast to comment real time, lol
[10:29] {Threei} EQUITIES AND THE DOLLAR MOVE LOWER AFTER TREASUY SEC PAULSON'S STATEMENT PROVIDES LITTLE IF ANY DETAILS OF A SPECIFIC BAILOUT PLAN
[10:30] {Threei} MOODY'S SAYS US GOV'T DEBT WELL WITHIN AAA RANGE
[10:31] {Threei} this last round of selling is unjustified IMO
[10:32] {Threei} FRE looking for bounce
[10:33] {Threei} out if you got it
[10:33] {Threei} guys, quick traders have to grab entries as instincts guide them
[10:33] {Threei} there is no way I can alert in time
[10:34] {Threei} very liquid situation
[10:34] {Chaeron} GM all... chaos rules today I see
[10:34] {Threei} if you don't feel confident,enough for entries, paper trade
[10:34] {Threei} hi chaeron
[10:35] {Threei} I barely manage to give an idea of a trade
[10:35] {Threei} exact entry, no way
[10:36] {Threei} FNM dollar bounce
[10:38] {Threei} FNM around .50 should be another long entry
[10:39] {Threei} UPDATE: CITIGROUP COMMENTS THAT FANNIE AND FREDDIE SELL OFF IS NOT DUE TO FUNDAMENTALS; REITERATES BUY RATING
[10:41] {Threei} feel free to exit
[10:41] {Threei} +.23 for me
[10:41] {Threei} no takers?
[10:42] {Threei} sigh
06[10:42] * Threei slaps laserdave1 around a bit with a large trout
[10:42] {Threei} and while I am at it
06[10:42] * Threei slaps magoo around a bit with a large trout
06[10:43] * Chaeron slaps laserdave1 around a bit with a large trout
06[10:43] * Chaeron slaps magoo around a bit with a large trout
[10:43] {Threei} thank you chaeron
[10:44] {Threei} disconnect between FRE/FNM and LEH
06[10:44] * Chaeron slaps Threei around a bit with a large trout
[10:45] {Threei} oh great
[10:45] {Threei} I thought I had an ally... turns out he just slaps people by pure reflex {G}
[10:46] {Threei} told ya that last round of selling was unwarranted
[10:46] {tomg} out fnm 8.01 , ty vad
[10:47] {Threei} from?
[10:47] {Threei} .55 or so?
[10:47] {tomg} .62
[10:47] {Threei} :)
[10:47] {Threei} not bad for 12-15 cents original stop size
[10:48] {tomg} yep :)
[10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[10:49] {Threei} findin g entry is still not easy... pullbacks into obvious support levels is the best approach
[10:49] {Threei} much like this last pullback on FNM from 8 to 7.50
[10:49] {Threei} so lwet's try and identify them
[10:49] {Threei} 8 is closest support for FNM
[10:49] {Threei} 4.70 for FRE
[10:50] {Threei} right now more negative action on LEH than on this couple
[10:51] {Threei} how about that FNM
[10:54] {tomg} xlf resistance 18.65?
[11:00] {tomg} now support
[11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:01] {tomg} xlf long here, vad?
[11:02] {Threei} after pullback...
[11:02] {Threei} it has much narrower range
[11:02] {tomg} ok, ty
[11:03] {Threei} plus, XLF has other financials weighing on it
[11:05] {Threei} FNM at support
[11:05] {Threei} FRE is not yet
[11:07] {Threei} FNM bounced right on que
[11:07] {Threei} FNM still pulling back
[11:07] {Threei} FRE sorry
[11:08] {Threei} FRE needs to be closer to 5.10
[11:12] {Threei} in, stop under 4.90
[11:12] {Threei} got 5.03
[11:12] {Threei} right on que
[11:13] {Threei} out
[11:13] {Threei} +.24
[11:13] {Chaeron} I scalped .14 out of it.,.. thanks
[11:13] {Threei} :)
[11:13] {patience} you are having a good day vad, shows why scalping pays
[11:14] {tomg} got it vad, TY !
[11:14] {Chaeron} we're in scalping mode again here
[11:14] {Threei} tom :)
[11:14] {Threei} getting out too soon every time patience... but somehow don't feel bad about it
[11:14] {patience} not when the cash register rings time and time again
[11:15] {Threei} no
[11:15] {Threei} keeping stops tight, taking easy profits
[11:17] {magoo} back
[11:17] {Threei} you left?
[11:17] {magoo} sorry, tenant called and tree split down middle
[11:18] {Threei} ugh
[11:18] {magoo} enmergency tree removal or smashed house roof
[11:18] {Chaeron} lightning? wind?
[11:18] {Threei} missed some bonanza
[11:18] {magoo} god dammit
[11:18] {magoo} big bux
[11:18] {Chaeron} yeah mags... even I made $
[11:19] {Chaeron} easy bro... more to come... as always
[11:21] {Threei} FNM, need pullback closer to 9 now for entry
[11:22] {Threei} FRE no read here
[11:22] {magoo} ok, well, what could i do..trying to get tree guy there now...or lose roof of entire house..
[11:23] {magoo} fnd me only winners vad, ok cause i missed your earliers
[11:23] {Threei} just did
[11:25] {Threei} out .20 from .03
[11:25] {Chaeron} missed here
[11:25] {Chaeron} mags.. dcc
[11:26] {Threei} second chance worked again
[11:26] {Threei} if goes to 9 again do not take it this time
[11:28] {Threei} you caught it magooski?
[11:30] {magoo} i though yuo saids do not take it
[11:30] {magoo} sheesh
[11:30] {Threei} .20 - .30 zone support now FNM
[11:30] {Threei} I said do not take it third time
[11:31] {Threei} it hit 9 twice and bounced every time
[11:31] {Threei} third would be a breakdown
[11:31] {magoo} crap..reach in computer and push the buy/sells for me lol
[11:32] {Threei} jump right off .30
[11:32] {patience} dow below 11,000, hmmm
06[11:33] * Chaeron dusting off DOW 10K party hat...
[11:33] {Threei} wow, I didn't even notice
[11:33] {Threei} too much fun with freddie kruger and his girlfriend fannie
[11:34] {Threei} same situation repeated exactly on FNM,
[11:34] {patience} do you realize China is top foreign holder of freddie and fannie bonds
[11:34] {Threei} second bounce off ,.30 worked
[11:34] {patience} interesting times vad
[11:34] {Threei} if goes there third time do not take it
[11:35] {Threei} I hate interesting times
[11:35] {judijim} good morning all
[11:35] {Threei} jj :)
[11:36] {Threei} 5.50 FRE support now
[11:38] {Threei} FNM asiming for 10
[11:38] {patience} IndyMac halted vad?
[11:38] {Threei} .75 important level to take
[11:39] {Threei} hmm
[11:39] {Threei} no halt news
[11:39] {Threei} let me check halt website
[11:40] {Threei} nope... not listed there
[11:40] {patience} ty, sorry to interrupt
[11:40] {Threei} the price and the way it trades though, ikt could be halted just as well, lol
[11:41] {Threei} 10 FNM
[11:41] {Threei} let me reiterate:
[11:41] {Threei} [11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:42] {Threei} now I'll stop patting myself on the back to prevent severe shoulder dislocation
[11:43] {Threei} magooevsky... tell me you got it this time
[11:43] {magoo} nope ..sigh
[11:43] {Chaeron} got what? where?
[11:44] {Threei} [11:38] {Threei} FNM asiming for 10
[11:44] {Threei} [11:38] {Threei} .75 important level to take
[11:44] {Threei} [11:39] {Threei} hmm
[11:44] {Chaeron} shoot
[11:44] {Threei} you guys don't pay attention at all?
[11:44] {Chaeron} freakin' phone
[11:45] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD"
[11:46] {magoo} any read RIMM vad?
[11:46] {Threei} no
[11:50] {Threei} this pullback is probably last long ewntry for bounce
[11:50] {Threei} after that either switching to shorts or going on a sideline
[11:52] {Threei} FNM is ready
[11:52] {Threei} .81 long
[11:52] {Threei} if stays above .65
[11:53] {Threei} out
[11:55] {Chaeron} me too. thanks... in .82 out 10
[11:55] {magoo} caught that one .78 to .97
[11:55] {Chaeron} good job mags
[11:55] {Threei} whew
[11:56] {Threei} just when I decided to lock you both out of the room for ignoring me
[11:56] {Chaeron} mags, did someone just say something?
[11:56] {Threei} on second thought... I am happy to be ignored
[11:57] {Threei} carry on :)
[11:59] {magoo} no here chaer..nothing
[11:59] {magoo} BUSH on tv
[11:59] {magoo} breaking news
[12:00] {Threei} ?
[12:00] {magoo} on fre fnm
[12:00] {magoo} coming up
[12:00] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD," THE GSES ARE "IMPORTANT INSTITUTIONS"
[12:00] {Threei} - Notes that oil prices are high because demand is outstripping supply, urges congress to open new areas for oil exploration before its summer break
[12:00] {Threei} same or something new...
[12:01] {magoo} he gonna be on cnbc
[12:01] {magoo} could move markets
[12:05] {Threei} I am skipping this stage of run on FRE
[12:05] {Threei} can't read it here
[12:05] {Threei} eay money is made
[12:05] {Threei} Bush is on
[12:06] {Threei} it's the same speech I quoted earlier
[12:07] {Threei} wow... magoo, you watching?
[12:07] {Threei} heard camera clicks just now?
[12:07] {Threei} same sound we have for Laser executions :)
[12:08] {Threei} oh, I forgot, I am on ignore
[12:08] {magoo} :)
[12:09] {Threei} reluctantly:
[12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:09] {Threei} FRE closest resistance .35
[12:10] {Threei} FNM 10
[12:10] {kazaam} break of .70 on FNM?
[12:10] {Threei} no, I'd oprefer a bounce closer to resistance
[12:10] {Threei} aggressive entry
[12:10] {Threei} making stop as tight as possible
[12:11] {Threei} here are bounces
[12:11] {Threei} any spot now where you feel it turns
[12:12] {Threei} in FNM
[12:12] {Threei} .15 stop
[12:13] {Threei} got .04... 1:1 was easy but I got greedy
[12:13] {Threei} let's see if I was wrong
[12:14] {Threei} lose .90 FNM, and you are toast
[12:15] {Threei} ok, first part of the plan... now turn into toast please
[12:16] {Threei} stubborn thing
[12:16] {Threei} die already
[12:17] {Threei} over 1:1... if you are uncomfortable, cover half
[12:17] {Threei} I want to milk it for more
[12:17] {kazaam} i cover havl at now
[12:17] {Threei} ahha... good boy
[12:17] {Threei} wait... FNM is a girl
[12:17] {Threei} FRE is a boy
[12:18] {Threei} covered half .76
[12:18] {Threei} +.28
[12:18] {Threei} why didn't I short FRE btw
[12:18] {kazaam} yep yep, wish i was more aggressive like you, i didnt have my hunting cap on
[12:18] {Threei} [12:09] {Threei} FRE closest resistance .35
[12:18] {Threei} hit .30 on bounce
[12:19] {Threei} focused on FNM too much
[12:19] {Threei} bidding .55
[12:19] {Threei} FNM
[12:20] {Threei} to cover, not for long entry!
[12:20] {Threei} stop 10.01
[12:22] {Threei} stop to .81
[12:24] {Threei} direct hit
[12:24] {Threei} out +.49
[12:24] {Threei} [11:50] {Threei} this pullback is probably last long ewntry for bounce
[12:24] {Threei} [11:50] {Threei} after that either switching to shorts or going on a sideline
[12:25] {Threei} [12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:25] {Threei} did I get the best read of the month on them or what today
[12:26] {magoo} yup
[12:27] {magoo} but fate had other plans for magoo
[12:27] {Threei} argh
[12:29] {magoo} your best pirate imitation?
[12:30] {magoo} AAAARRRRRRRRRRRRR
[12:30] {Threei} hehe
[12:31] {Threei} ok guys, how are we doing today? I need some feedback, you are way too silent
[12:31] {Threei} finding your entries and exits, can't get it right, simply sleepiong... which is it?
06[12:31] * kazaam thanks vad for his only and most profitable trade all week
[12:31] {Threei} sounds good
[12:32] {Chaeron} best day I've had in a while
[12:32] {patience} terrific day vad
[12:32] {Threei} that's what I love to hear
[12:34] {magoo} im up..but not daily
[12:34] {magoo} 3 times daily yesterday {again}
[12:36] {magoo} whaaa??u ignoring me??
[12:36] {Threei} would be interesting to find out how magoo did yesterday... too bad we don't hear from him
[12:42] {magoo} aapl bounce vad??
[12:46] {Threei} can't get feel on it
[12:47] {kazaam} CEDC? I cant understand if that price action is bullish or bearish
[12:48] {Threei} mostly bullish, it's just very thin
[12:49] {Threei} FNM looks like short entry again
[12:50] {Threei} .50 closest resistance
[13:01] {Threei} anyone's in and needs guidance?
[13:08] {magoo} i am
[13:09] {Threei} price?
[13:09] {magoo} morale
[13:09] {Threei} ah
[13:09] {Threei} ok
[13:09] {Threei} thou shalt not:
[13:09] {Threei} -buy fast dropping stocks
[13:09] {Threei} -shot fast rising stocks
[13:09] {Threei} -blow one's stops
[13:10] {Threei} -double down on losing position
[13:11] {Threei} -covet neighbour's trading account
[13:12] {Threei} -worship false TV gurus
[13:12] {Threei} how's that for guidance?
[13:14] {kazaam} I am guilty, 3 out 6, where do I send money?
06[13:15] * patience slaps Threei around a bit with a large trout
[13:15] {Threei} don't bother... if those are first three, your money will be taken from you with no other action on your part
[13:15] {Chaeron} wow
[13:15] {Threei} what did I do?
[13:15] {kazaam} goodie, very effiecent system
[13:15] {Chaeron} patience... nice shot... and you don't practice even
[13:18] {magoo} practice?practice i hear?
[13:20] {Threei} tide is changing again on FRE/FNM but volume is very questionable
[13:20] {Threei} no read
06[13:21] * magoo slaps patience around a bit with a large trout
[13:22] {magoo} practicing:)
[13:22] {patience} ty magoo :)
[13:26] {patience} ok, quick change of subject for you guys....has anyone taken the train from Le Havre into Paris?
[13:27] {magoo} is that in upstate new york?
[13:27] {patience} vad, help me out here with magoo
[13:27] {Threei} easy
06[13:27] * Threei slaps magoo around a bit with a large trout
[13:27] {patience} ty
[13:27] {Threei} always
[13:28] {Threei} I guess fern is closest to that area
[13:28] {Threei} unless omnipresent Raven flies over there now and then
[13:28] {patience} ok, i guess you guys don't take the choo choo
[13:30] {GeoArb} we all will soon :)
[13:31] {Threei} lol
[13:32] {GeoArb} gm got punished for buying all railcar companies and closing them down
[13:32] {fernp} sorry, I've been in Paris but only in Disney Land
[13:32] {GeoArb} hahahahah
[13:32] {GeoArb} i have been tp paris paris
[13:32] {GeoArb} vegas
[13:40] {Raven} 3 been in Paris Kentucky
[13:40] {Chaeron} there's Perris, CA... that count?
06[13:40] * Raven slaps Chaeron around a bit with a large trout
[13:40] {Raven} 3 no
[13:40] {magoo} i live been in pennsyltuckey
[13:40] {Chaeron} lol
[13:40] {Threei} .51 FRE if holding .40
[13:45] {Chaeron} inval'd?
[13:45] {Threei} needs to consolidate agan for a few above .40
[13:47] {Chaeron} or doesn't... lol
[13:49] {magoo} out .63 vad ty
[13:50] {Threei} :)
[13:59] {magoo} way way early
[14:01] {Threei} JUNE MONTHLY BUDGET STATEMENT: $50.7B V $34.0BE
[14:12] {Chaeron} FRE green
[14:13] {Threei} whould woluld have thought
[14:18] {Threei} drop to about 7 is bounce entry for FRE
[14:19] {Threei} SENATOR DODD: KNOW THAT THE FED AND TREASURY ARE LOOKING AT OPTIONS ON GSES INCLUDING ACCESS TO THE DISCOUNT WINDOW
[14:19] {Threei} - Dodd echoes other officials saying that the GSEs are fundamentally sound, notes the majority of mortgages held by the GSEs are solid 30Y mortgages.{FNM}
[14:21] {Threei} almost ready FRE
[14:22] {Threei} first strength from here
[14:22] {Threei} got .05
[14:22] {Chaeron} .06
[14:22] {Threei} out
[14:23] {Threei} .30
[14:23] {Chaeron} .31 + 0.25 great one... thanks Vad
[14:23] {Threei} to see 7 coming when it was around 7.70 - I am a borderline genius today
[14:23] {Chaeron} IQ of 220
[14:24] {Chaeron} again?
[14:24] {Threei} most likely second time yes
[14:24] {Threei} third no
[14:24] {Threei} wait for turn first
[14:24] {Threei} no entry on price alone
[14:24] {Threei} missed
[14:24] {Threei} whatever
[14:25] {Threei} let it go
[14:25] {Chaeron} k
[14:25] {Threei} if you got it, take scalp
[14:25] {Threei} don't get stuck
[14:25] {Chaeron} nope
[14:25] {Threei} wemotions run high again
[14:37] {Threei} I don't remember my trading list for the day to be just two stocks, and the ghottest one for the day at that
[14:37] {Threei} ones
[14:42] {Threei} I'll have to leave in 20-30 minutes guys
[14:42] {Threei} anyone got any quoestions ask them NOW
[14:42] {Threei} or forever hold your peace (at least till Monay)
[14:43] {Chaeron} did you mean Monet'?
[14:43] {Threei} monday
[14:43] {Chaeron} just checking... you knnow Senator Obama told us we have to learn Spanish and French and..... so... just checking
[14:44] {magoo} was bumped opff
[14:44] {patience} french????
[14:44] {Raven} 3 oui
[14:44] {Raven} 3 si
[14:44] {patience} pourquoi
[14:45] {magoo} bookuu magoo
[14:45] {Raven} 3 just because
[14:45] {fernp} I speak a bit of spanish
[14:45] {fernp} ole
[14:45] {patience} me too : tequila
[14:46] {Raven} 3 taco?
[14:46] {Chaeron} because we are going to have Canadians demanding French
[14:46] {Chaeron} don't want them to feel left out, do we?
[14:46] {patience} if majority of canadians refuse to learn one of their officials and we are 'nice' people
[14:47] {patience} lots of luck
[14:47] {patience} we are not 'nice' people
[14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW - UNCONFIRMED REPORT
[14:47] {Threei} - note: Senator Dodd made a similar comment earlier{FRE}
[14:47] {Chaeron} I know... ask me about my ex-wife
[14:47] {patience} oh
[14:47] {GeoArb} lol
[14:48] {GeoArb} that was out of nowere
[14:48] {magoo} vad, u in next week?
[14:49] {Threei} sure
[14:50] {kazaam} why 100 points in .0005 seconds?
[14:50] {Chaeron} man... is FNM going to close green?
[14:51] {patience} good question kazaam
[14:51] {GeoArb} fnm fre got capitalized i guess
[14:54] {Raven} 3 Benny told FNM and FRE that they are eligible for discount window
[14:54] {Threei} [14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW
[14:54] {GeoArb} i guess me going to paris is going to get more expensive in dollars :(
[14:54] {Threei} anyone pays any attention to me whatsoever??? :)
[14:54] {magoo} huh??
[14:54] {GeoArb} you using white fonts vad?
[14:55] {Threei} stop using whiteout on your LCD screen
[14:56] {magoo} if mkt closes green ill cut my wrists with a banana
[14:57] {Threei} I suggest eating keyboard
[14:57] {Threei} at least some nutrition
[14:59] {magoo} jesus..this is retarded...only 76 down
[14:59] {magoo} 66
[14:59] {magoo} 59
[14:59] {Threei} Ok guys, thank you all
[14:59] {Threei} have a great relaxing weekend
[15:00] {magoo} ty vad, nice job
[15:00] {fernp} today we have seen the best Vad. Thank you for everything
[15:00] {Threei} no end of the world today but next week will bring a few more
[15:00] {Threei} thank you fern
[15:00] {Threei} see you all on Monday
[15:00] {GeoArb} ty vad
[15:00] {fernp} bye
Thursday, July 10, 2008
Jul 10 2008
Session Time: Thu Jul 10 00:00:00 2008
[08:21] {Threei} Good morning
[08:21] {Threei} FRE all time lows
[08:21] {Threei} FNM follows the suit
[08:30] {Threei} INITIAL JOBLESS CLAIMS: 346K V 395KE;
[08:30] {Threei} ONTINUING CLAIMS: 3.202MM V 3.140ME
[08:30] {Threei} Prior Continuing Claims revised from 3.116M to 3.111MM
[08:34] {brian3579} gm all
[08:34] {Threei} brian :)
[08:44] {Threei} 07/09/08 08:25pm
[08:44] {Threei} (US) WSJ reports that President Bush's administration has held discussions about what to do in the event that Fannie Mae and Freddie Mac falter - WSJ
[08:44] {Threei} - The report cites 3 people familiar with the situation.
[08:44] {Threei} - According to the article, these talks have been going on for months and are part of normal contingency planning that the Treasury Dept and other financial regulators regularly undertake, but the talks have become more serious recently.
[08:44] {Threei} at this rate they'll be at zero next week
[08:46] {Threei} WB
[08:46] {Threei} CHAIRMAN SMITH: WE HAVE A STRONG CAPITAL FOUNDATION AND OPTIONS FOR ADDRESSING THE CAPITAL BASE - CONF CALL COMMENTS
[08:47] {Threei} yup
[08:57] {magoo} mornink comrades
[08:57] {Threei} magoo :)
[09:00] {dino} gm all, brb
[09:00] {Threei} dino :)
[09:00] {Threei} hurry back
[09:00] {tomg} gm all
[09:01] {Threei} you want to be here for historic moment of FNM and FRE hitting zero, and if you are away for more than 15 minutes you do risk to miss that
[09:01] {Threei} tom :)
[09:01] {Threei} OPEC: CUTS 2015 DEMAND FORECASTS, SAYS EIA AND IEA ARE TOO OPTIMISTIC REGARDING FUTURE DEMAND
[09:02] {Threei} TGAL
[09:02] {Threei} RECEIVES 901ACS PLASMA ETCH SYSTEM ORDER AND ACS UPGRADE ORDERS FROM LEADING MAKER OF COMMERCIAL BIOMEMS-BASED MEDICAL TESTING PRODUCTS
[09:02] {fernp} Good morning all
[09:06] {Threei} fern :)
[09:07] {magoo} what ya thinking for today vad?{i know, i know..u don't think} BUT u usually have good feel...as in, little selloff then up? or more drearey down what?
[09:07] {Threei} you know, so far no feel at all
[09:07] {Threei} tried to get some read,
[09:07] {Threei} and found out that this is kind of day when anything can happen at any moment
[09:08] {Threei} FRE/FNM situation is ripe for some extreme events
[09:08] {Threei} and possible external interventions
[09:08] {Threei} and whole market will react violently if something happens with those two
[09:09] {Threei} I had an interesting talk yesterday with a guy who has a window into quite a few trading accounts at many brokerages
[09:09] {Threei} his words:
[09:10] {Threei} "a lot of traders who made money consistently year over year are hurting badly last month or so"
[09:10] {Threei} I am not surprized
[09:11] {Threei} extreme chop makes practically any system prone to more frequent stops
[09:11] {Threei} we see it too
[09:14] {judijim} good morning everyone
[09:15] {Threei} jj :)
[09:15] {cosmo} FCSX: FCStone misses by $0.05, beats on revsBriefing.com(Thu 8:05am)
[09:15] {magoo} yeah vad, i am down mon..up tues..down wed...hopefully up today...SIGH
[09:16] {magoo} like my RIMM short yesterday...rinse then collaspe
[09:16] {dino} rinse city boys
[09:16] {Threei} what a relentless selling on these two
[09:18] {Threei} both are shortable on Laser
[09:19] {Threei} let's stick to a very conservative side today
[09:20] {Threei} it's likely to be very choppy and listless
[09:24] {dptl} good morning all
[09:26] {Threei} dp :)
[09:28] {dino} colb ouch
[09:32] {Threei} 8.50 half lot short FRE if stays under .75
[09:34] {Threei} 1:1
[09:34] {Threei} scalping only at this point
[09:35] {tomg} nice one vad, missed it myself (:
[09:35] {Threei} FNM considerably stronger
[09:36] {Threei} 13.50 nearest resistance for it
[09:36] {Threei} not sure whether short it here or wait for stronegr bounce
[09:38] {Threei} RMBS .39 short if stays under .60
[09:38] {Threei} FRE bottomless
[09:39] {Threei} let's do half lot RMBS
[09:42] {Threei} 1:1
[09:42] {Threei} and over
[09:42] {Threei} my a$$ is out
[09:42] {tomg} missed again, all thumbs today
[09:43] {Threei} taking the surest money today
[09:43] {Threei} it bounced right into trigger after setting up...
[09:43] {Threei} gave entry chance
[09:43] {tomg} my fault, looked away a min
[09:44] {Threei} {AWAY} I am a looker alright
[09:44] {tomg} :)
[09:45] {tomg} got LEH long, though
[09:45] {Threei} nice spike on it
[09:45] {tomg} got out too soon, argh
[09:46] {Threei} no such thing today
[09:46] {Threei} take sure money
[09:46] {tomg} ok
[09:46] {Threei} smackdowns will be so violent, you can go from nice gain to disgusting loss faster than you can say OY
[09:46] {dino} aaww
[09:46] {Threei} have a look at LEH right now for illustration
[09:46] {tomg} yep, see what you mean
[09:47] {tomg} wow
[09:47] {tomg} happy with my .50 , whew!
[09:47] {magoo} nice start vad
[09:47] {Threei} ty mags
[09:47] {Threei} there you go tom... almost one buck down in one exhale
[09:48] {tomg} man
[09:48] {tomg} in less than a minute, too
[09:48] {Threei} ugh, missed WB long... didn't trust it
[09:50] {Threei} REPORTEDLY US TSY PAULSON TO MAKE COMMENTS FOR NEED FOR TIGHTER MARKET OVERSIGHT AND DISCIPLINE
[09:51] {Threei} closing barn doors after horses are gone?
[09:51] {Threei} where was this guy when banks flooded market with mortgage-back derivatives
[09:51] {Threei} backed
[09:52] {Threei} WB, reluctant long closer to 13.50
[09:52] {Threei} half lot!
[09:52] {Threei} wait with entry for FNM bounce
[09:53] {Threei} in
[09:53] {Threei} .39 stop
[09:54] {Threei} got .56
[09:54] {tomg} .57 here
[09:54] {Threei} stop to .45
[09:55] {Threei} not taking any chances for bigger loss than I can shrug off
[09:55] {Threei} rather will be shaken out than risk any quick selloff with slippage
[09:56] {Threei} needs to break .65
[09:57] {Threei} out
[09:57] {tomg} out
[09:57] {Threei} FNM losing ground again
[09:58] {cosmo} SYMC 19.24 = hod fwiw
[09:59] {cosmo} testing
[10:01] {Threei} TREASURY SEC PAULSON: FRE AND FNM ARE ADEQUATELY CAPITALIZED, FINANCIAL FIRMS MUST BE ALLOWED TO FAIL
[10:01] {cosmo} along with the home owners
[10:03] {dino} will 11120 hold?
[10:03] {Threei} Doesn't like it will
[10:04] {dino} thinking no
[10:04] {Threei} doesn't look
[10:04] {Threei} FRE
[10:04] {Threei} .49 short half lot
[10:04] {Threei} if stays under .65
[10:05] {Threei} 1:1 easy
[10:05] {Threei} covering half
[10:05] {Threei} let's try to ride a little
[10:05] {Threei} if no worky, back to scalps
[10:05] {dino} they are gearing up for a failure, "the problem of to big to fail"
[10:06] {Threei} sounds right
[10:06] {Threei} and scary
[10:06] {Threei} out second half
[10:07] {Threei} scalps r us
[10:08] {Threei} too many external noises are being made and each impacts the market
[10:08] {Threei} too ensitive to news and sound bites
[10:13] {Threei} FRE .49 short half lot
[10:13] {Threei} .65 stop
[10:13] {Threei} FNM diving
[10:14] {Threei} should take FRE with it
[10:15] {Threei} 1:1
[10:15] {dino} new lows dji
[10:18] {Threei} XLF 18.99 short if stays below 19.10
[10:19] {Chaeron} Good morning all
[10:21] {Threei} chaeron :)
[10:21] {Threei} missed a few good ones
[10:22] {Chaeron} hope there are more
[10:23] {Threei} SPOKESPERSON: FRE HAS 'ABSOLUTELY ENOUGH CAPITAL', COMMITTED TO RAISING ADDITIONAL CAPITAL WHEN APPROPRIATE
[10:23] {Threei} - States capital raise depends on market conditions{FNM XLF}
06[10:23] * Threei is crying
[10:25] {Threei} LEH
[10:25] {Threei} CNBC'S FABER: THERE ARE LOTS OF RUMORS, THEY ARE NOT TRUE, BUT THAT DOESN'T MATTER
[10:25] {Threei} huh?
[10:25] {Threei} new low FRE
[10:25] {Threei} and FNM
[10:26] {Threei} OK, this starts looking as panic
[10:27] {dino} v sm, risky, l cme 309.01
[10:27] {Threei} REPUBLICAN PRESIDENTIAL CANDIDATE MCCAIN: US CAN NOT ALLOW FRE, FNM TO FAIL
[10:28] {Threei} see tis headline and bounce?
[10:28] {Threei} unbelieavble sensitivity to any sound bite
[10:29] {dino} yeah, and we thought magoo was sensitve
[10:30] {Threei} sensitive magoo - now this is the concept I need a while to get used to
[10:31] {Threei} didn't we read yesterday somewhere that FNM backs up about 70% of mortgages in USA?
[10:31] {Threei} if memory serves me right and it's so... what could mechanics of its failure even be??
[10:34] {Threei} careful long FRE here
[10:34] {Threei} stop under .25
[10:34] {Threei} so keep size reasonable
[10:34] {Threei} not a scalp
[10:34] {Threei} aiming for closer to 8
[10:39] {Threei} held support with nice precision so far... now go you lame half dead financial mess
[10:39] {Chaeron} ah... the softer, kinder, nicer side of Threei
[10:39] {Threei} lol
[10:40] {Chaeron} cut the crap and use the boot or 2x4
06[10:40] * Threei kicks FRE in the rear with heavy duty army boots
[10:41] {Threei} lookie lookie
[10:41] {Chaeron} see?
[10:41] {magoo} wow..u ok?
[10:42] {Threei} me??
[10:42] {Threei} ask FRE!
[10:42] {magoo} yeah
[10:42] {Chaeron} where exit?
[10:42] {Chaeron} 8?
[10:42] {Threei} your choice
[10:42] {magoo} .93
[10:42] {Threei} scalp or hold
[10:42] {Threei} or partial
[10:42] {Threei} all bets are off today
[10:43] {Threei} we all have different risk tolerance
[10:43] {Threei} I don't want to impact your decision on such dangerous day
[10:43] {Threei} my personal is wehat magoevsky said
[10:44] {Threei} but I have a few nice wins from previous trades under my belt
[10:44] {Threei} and you camne in late for those
[10:44] {Chaeron} today's dangerous?
[10:44] {Threei} that does it
06[10:44] * Threei slaps Chaeron around a bit with a large trout
[10:44] {dptl} lol
[10:45] {Chaeron} I'm still waiting for your MOAB calls
[10:46] {Threei} not yet...
[10:46] {Threei} IMO{ this bear hasn't run its course yet
[10:46] {Chaeron} ok, how many of you punched in MOAB into your Level2? Truth now gang... LOL
[10:46] {Threei} lol
[10:46] {Threei} WHITE HOUSE: FOCUSED ON LEGISLATION FOR FRE, FNM THAT WILL PROVIDE MARKETS WITH CONFIDENCE
[10:47] {Threei} hmmm
[10:47] {magoo} what u get as entry ?
[10:47] {Threei} I'd expect more upside off this soundbite
[10:47] {Threei} maybe partial
[10:48] {Threei} .47
[10:48] {Threei} half out for me here
[10:48] {Threei} changing plan a little
[10:49] {Threei} market sharp downtick again
[10:50] {Threei} I guess while govt sounds like its ready to bail them out, nobody knows what terms would be
[10:50] {Threei} I mean, Bear Sterns bailout didn't do much for shareholders, right?
[10:50] {Threei} so immediate impact on trading is contained by that uncertainty
[10:51] {Threei} my stop is trailed to .45 on FRE
[10:51] {Chaeron} FRE in .27 out .80 +0.53... thanks Threei
[10:51] {Chaeron} (sorry about the agressive entry but had a tight stop)
[10:52] {Threei} why sorry
[10:52] {Threei} which type of entry one takes is entirely up to one
[10:52] {Chaeron} not normal
[10:52] {Threei} regular vs aggressive vs conservative
[10:55] {Threei} FED'S BERNANKE: FED IS PAYING ATTENTION TO FINANCIAL SYSTEM, FEELS MARKET REFORM SHOULD BE COMPLETELY CORRECTLY RATHER THAN WITH SPEED - Q&A
[10:57] {magoo} the news imo..is setting us up for move to greenland
[10:57] {magoo} any thoughts vad
[10:57] {Threei} can't tell really
[10:57] {Threei} it changes too quick and too often
[10:58] {Chaeron} patience is required
[10:58] {Chaeron} personally I am glad she's here everyday..............
[10:59] {patience} laughing
[10:59] {Threei} FNM sharp selling
[10:59] {Threei} FRE is holding a little better
[10:59] {Threei} out second half
[11:00] {Threei} letting it sort out the mess a little before I look for the next setup
[11:00] {Threei} also I need a little time to fix my shoulder
[11:01] {Threei} dislocated it while patting myself on the back for the precision with which FRE held stop level
[11:04] {Chaeron} anyone else having chart feed probs?
[11:04] {magoo} good here on serv 1
[11:05] {Threei} PIMCO SPOKESPERSON: PIMCO CONTINUES TO TRADE WITH LEH
[11:06] {Chaeron} thanks mags
[11:10] {magoo} works for u?
[11:11] {Chaeron} now it is on there... thanks
[11:28] {Chaeron} .
[11:28] {Threei} fine point
[11:29] {Threei} S SENATE VOTES TO LIMIT DEBATE ON THE THIRD SECTION OF THE HOUSING BILL, AS EXPECTED
[11:29] {Threei} - this procedural vote allows the Senate to move forward with a vote on the full housing bill
[11:29] {Threei} - note: the bill had been held up for several weeks by an attempt to attach a rider that would add billion of dollars in renewable energy tax credits. The sponsor of that rider said he would drop his efforts to add it into this bill.
[11:31] {magoo} vads, u got any friar tuk left?
[11:34] {magoo} out here .60 + 1 point
[11:34] {Chaeron} beauty magoo
[11:35] {patience} good day for you magoo :)
[11:36] {Threei} wtg mags
[11:38] {Threei} US TREASURY'S PAULSON: CONFIRMS STRONG USD POLICY, AS US HAS 'BEST LONG TERM FUNDAMENTALS' OF DEVELOPED COUNTRIES, WILL BE REFLECTED IN VALUE OF CURRENCY
[11:40] {Threei} CFTC NOTES THAT IT HAS OBSERVED NO SYSTEMATIC EFFORT TO INCREASE OIL PRICES
[11:40] {Threei} oh good
[11:43] {Threei} FNM pullback should be buyable
[11:43] {Chaeron} as close to...?
[11:44] {Threei} about here
[11:47] {Threei} in
[11:47] {Threei} stop under .80
[11:48] {Threei} not time yet
[11:49] {Threei} next leg down then
[11:49] {Threei} closer to .50
[11:51] {dino} wynn blood
[11:51] {Threei} .67 - .97 scalp... too fast to post sorry
[11:56] {Threei} WB
[11:56] {Threei} CEO STEEL: DEPOSITS AND BASIC LENDING ARE STRONG
[11:56] {Threei} the more they repeat it...
[11:56] {Threei} FED'S BERNANKE: GSES `WELL CAPITALIZED' ON A REGULATORY BASIS
[12:00] {Threei} watching NLY for pullback long entry
[12:03] {Threei} if no pullback, then .75 long with stop under .60
[12:04] {Threei} would love to see FNM goping upo for NLY entry
[12:05] {Threei} WB
[12:05] {Threei} RATINGS ON REVIEW FOR POSSIBLE DOWNGRADE AT MOODY'S
[12:07] {Threei} GEORGIA RECALLS ITS AMBASSADOR FROM RUSSIA FOR CONSULTATION
[12:10] {Threei} scratching N LY
[12:10] {Threei} stalled
[12:10] {Threei} want easy money only today
[12:15] {magoo} i do{oops..thought it was a question}
[12:16] {Threei} lol
06[12:16] * magoo slaps patience around a bit with a large trout
[12:17] {patience} ok, magoo, what's up
[12:18] {magoo} u are now designated my official dave warm up slap-ee
[12:18] {patience} magoo, you make me feel special
[12:19] {magoo} u are special to magoo
[12:24] {judijim} wehave been been trading only momentum trades for 10 to 30 minutes once or twice a week.
[12:25] {Threei} whatever works jj
[12:25] {magoo} from what u been posting, u have been doing quite well
[12:25] {Threei} if you used chicken entrails as indicator for entry and it was profitable - I say more power to you
[12:25] {magoo} 2 days over a grande each correct?
[12:26] {judijim} yes
[12:26] {Threei} now, if you had to bury a bat bone on the crossroad in full moon night - that could be aproblem
[12:27] {Chaeron} other than waiting for a full moon, what's the problem?
[12:27] {Threei} catching a bat, too much work... and most crossroads are covered with concrete these days, again increases a workload
[12:27] {Chaeron} details, details :)
[12:28] {Threei} chicken entrails on the other hand...
[12:28] {kazaam} hmmm, all these methods sound better than mine, throwing darts at my lcd...
[12:29] {judijim} today we tried 10 stocks and was up over 1100 dollars and before we could get out we made only 93 dollars
[12:29] {Threei} I like that one kaz... the trouble is I hit the LCD too often
[12:29] {Threei} wow jj
[12:29] {Threei} what happened?
[12:30] {Threei} they moved against you too fast for exit?
[12:30] {judijim} the timing was wrong
[12:30] {Threei} well, today was very hectic
[12:31] {dptl} what is your lot size judi...if i may ask?
[12:32] {magoo} what im interested in hearing is how the two of your can decide together{and in a timely fashion} on entries and exits
[12:32] {judijim} we buy only 100 shares right now
[12:32] {judijim} 10 stocks at a time
[12:33] {dptl} $1100 with 100 shares?
[12:33] {judijim} in a couple of months going to maybe200 each
[12:34] {judijim} we always buy 100,000 dollars at a time
[12:34] {magoo} whattttttttttttttttttttttttt? as magoo faints
[12:34] {dptl} so its about a $1 everege win per stock?
[12:35] {dptl} i am confuse
[12:35] {dino} out cme 313.21, +4.21
[12:35] {judijim} I was trying to dcc Vad , dont want to step on any toes
[12:35] {Threei} you don't... share freely :)
[12:35] {Threei} and to dcc, simply doubleclick on my nick
[12:35] {dino} tough crowd
[12:36] {judijim} since may 19, up just over 20,000 dollars
[12:36] {dino} magoo was only joiner
[12:36] {Threei} yes dino... they can focus on one person at a time
[12:36] {dino} dino is back
[12:37] {Threei} to chew gum and walk - no can do
[12:37] {judijim} i would be glad to share the stocks with anyone
[12:37] {Threei} you have floor jj
[12:38] {judijim} we buy on the high offer to save time
[12:38] {magoo} ok ok ...dino..........i took his trade at 307.00 and exited 311.56 THERE
[12:38] {judijim} and sell on the high offer
[12:38] {Threei} if you want, I'll efdit it out when post room transcript so it remains within RT
[12:40] {magoo} sheesh.i hope u edit some of my wise cracks boss
[12:40] {judijim} all our stocks are low pe and high growth type for investing, except we day trade these stocks
[12:41] {judijim} we were using two level twos for hedge when swing trading but not for about 6 weeks
[12:42] {dptl} i see .....ty
[12:43] {judijim} we found that our stocks move different from the dow and s&p
[12:44] {dino} ha, different, you should see magoo try to dance
[12:45] {judijim} also, for the last 3 weeks, been trading same stocks each day we trade
[12:47] {dino} whatever you're doing, keep doing it, gj
[12:47] {Threei} {magoo} sheesh.i hope u edit some of my wise cracks boss {---- nope, I actually add to them
[12:47] {magoo} man o man..vad hasn't made 20k in 2 years he he {as magoo grabs vodka and heads for nearest cave}
06[12:47] * Threei slaps magoo around a bit with a large trout
[12:47] {judijim} today was the first day we trades short beleive it or not in about two months
[12:48] {kazaam} are you trading stocks that are in the dow and sp?
[
[12:50] {dino} fmcn drops
[12:51] {judijim} we still have problem of exiting too soon
[12:51] {kazaam} mmmm, clf and anr are so good to me, makes me want to compose a song for them
[12:52] {kazaam} but of course, vad will have to sing it
[12:52] {kazaam} i am no singer
[12:53] {Threei} you don't want to be around when I siign
[12:53] {Threei} sing
[12:53] {Threei} people have been known to break down windows trying to get out of the zone of horror
[12:54] {judijim} yesterday, we got out at over 1000 dollars in ten minutes and then watched the rise another 2700 dollars in another 20 minutes
[12:55] {judijim} all done by 7:20 am yesterday morning
[12:56] {Threei} FMCN small shares short IF breaks down .40
[12:57] {Threei} .55 stop
[12:58] {dino} want it long off of 22.60
[12:58] {Threei} yup, if breaks .60 likely to bounce
[12:58] {Threei} wait, 22?
[12:58] {Threei} or 23?
[12:59] {dino} 22.60 waiting for it
[12:59] {Threei} oh OK, misunderstood you
[12:59] {dino} most likely won't happen, but lets see
[13:05] {judijim} signing off , have a great day everyone
[13:06] {Threei} take care jj, thanks for sharing
[13:06] {dptl} ty judi
[13:07] {kazaam} tks, cya tomorrow
[13:08] {dino} cya jj
[13:08] {Threei} no worky
[13:11] {magoo} good deal jj:)
[13:11] {dino} sm l fmcn .60 stop lod
[13:30] {dino} cavm sm l .80
[13:32] {Threei} RMBS
[13:32] {Threei} .41 long
[13:32] {Threei} .29 stop
[13:50] {Threei} no worky
[14:00] {dino} fmcn stop to b/e
[14:11] {dino} good thing, fell fast
[14:16] {Threei} wow
[14:17] {Threei} watched FRE trying to determine whether it's time to short
[14:17] {Threei} when it dropped before my very eyes almost 20 cents in no time
[14:18] {kazaam} here comes oil
[14:21] {Threei} FORMER FED PRESIDENT POOLE SUGGESTS THE GSES SHOULD BE NATIONALIZED - TV INTERVIEW
[14:21] {Threei} - follows comments he made overnight that the GSE's are "insolvent" and are increasingly likely to need a bail out
[14:21] {Threei} Y
[14:21] {Threei} I
[14:21] {Threei} K
[14:21] {Threei} E
[14:21] {Threei} S
[14:21] {Threei} is this waht oil reacted to?
[14:22] {Threei} seeing nationalizing of FRE/FNM as hugely inflationary step?
[14:25] {dino} don't really know what to make of it, other than the mortgage guarantees are good
[14:25] {Threei} implications are too deep and wide
[14:25] {Threei} I wouldn't even try to analyze them on the go
[14:25] {Threei} huge new debt taken on, one side
[14:25] {Threei} motrgages salvation on another
[14:26] {Threei} jeez
[14:26] {Threei} look at USO
[14:26] {dino} iran tensions
[14:28] {Threei} are there any new news on that?
[14:28] {Threei} I don't see anything
[14:29] {dino} 1:54, oil rebounds as iran tensions flare
[14:29] {cosmo} maybe this is the day before free energy disclosure?
[14:31] {dino} cavm approaching original target
[14:31] {dino} fmcn i mean
[14:33] {dino} i was thinking on oil, last year cost me $3,600 to heat my house, this year $7,200?
[14:33] {Threei} easily
[14:33] {Threei} if not more
[14:34] {Threei} there is till time left before winter for prices to increase
[14:34] {dino} crazy, few years ago it was only $2k
[14:35] {dino} wynn lod
[14:35] {Chaeron} move near me...
[14:36] {Chaeron} turned on furnace only a few times
[14:36] {Chaeron} last winter
[14:36] {Chaeron} and not even turned on ac so far this summer :)
[14:38] {Raven} 3 switch to nat gas dino
[14:38] {dino} thinking about it raven. just signed some leases w/chesapeake
[14:39] {Raven} 3 $700 to heat my house last winter
[14:39] {Raven} 3 and we're as cold as you guys
[14:39] {Raven} 3 maybe colder
[14:39] {dino} gas?
[14:39] {Raven} 3 yup]-]
[14:39] {Chaeron} good idea Raven... seriously
[14:39] {dino} sm l wynn .00
[14:40] {Raven} 3 OIl heat is a killer
[14:40] {dino} hmmmmmmm, must lokk into this
[14:40] {dino} look
[14:41] {dino} raven, if i may ask, square footage of your house?
[14:42] {Raven} 3 about 2700 ... first floor and finished basement
[14:42] {dino} ok, ty
[14:42] {Raven} 3 very well insulated also
[14:42] {dino} you don't heat basement do you? i have radiant in the floor but don't use it in basement, always constant 64
[14:43] {Raven} 3 absolutely heat basement ... 100% .... office down here
[14:43] {dino} lol, i see
[14:44] {Raven} 3 rebuilt the whole damn house in 2000 and switched to nat gas
[14:44] {Raven} 3 windows, doors, roof , siding ... whole damn mess
[14:44] {cosmo} move to AZ while its cheap
[14:45] {Raven} 3 that is in back of my mind cosmo ... more and more
[14:45] {cosmo} :)
[14:46] {Raven} 3 trouble is ya can't give a house away in this miserable state
[14:48] {cosmo} they're all miserable...
[14:48] {Raven} 3 lol ... not like Michigan
[14:48] {Raven} 3 land of the former auto industry
[14:48] {dino} ouch
[14:49] {Raven} 3 high paid union workers with no jobs
[14:49] {Raven} 3 high taxes on business
[14:49] {Raven} 3 great environment for growth
[14:49] {cosmo} what crop?
[14:49] {dino} yeah right
[14:50] {Raven} 3 marajuana ?
[14:50] {cosmo} four more years...
[14:51] {Raven} 3 read my lips
[14:51] {dino} wynn stopped
[14:54] {Threei} end of the world is back on agenda
[14:54] {Threei} US DOD OFFICIAL: IT APPEARS IRAN LAUNCHED ONLY ONE MISSILE TODAY
[14:54] {Threei} - reminder: Iran test fired four missiles yesterday as its war games continue
[14:55] {Threei} CNBC'S BERTHA COOMBS NOTING A TECHNICAL LEVEL AT $138 WAS REACHED, SENDING CRUDE HIGHER INTO THE CLOSE
[14:55] {Threei} ahhh... it's Bertha
[14:56] {Raven} 3 Bertha baby !
[14:56] {Raven} 3 sigh
[14:57] {dino} perfer becky
[14:58] {Raven} 3 right
[14:59] {Threei} now main question is,
[15:00] {Threei} do shorts cover into close or do longs bail?
[15:01] {patience} short covering...rally starting monday
[15:01] {Threei} wow... we have optimist among us
[15:02] {patience} yes, but i thought the u.s. would lower their rate....was very hopeful, lost the bet and have to buy blueberries for someone
[15:02] {Threei} someone was very happy
[15:02] {Threei} ask me how I know
[15:02] {patience} ?
[15:03] {Threei} I saw happiness in someone's eyes when looked in the mirror
[15:03] {Chaeron} vampires don't have reflections......
[15:03] {patience} roflol
[15:03] {Threei} for other people...
[15:03] {dino} ok, do we see the classic dino rinse on wynn
[15:03] {Threei} they cansee themselves though
[15:04] {Threei} (ask me how I know)
[15:04] {Chaeron} ok ok... "How do you know that Vad?"
[15:04] {Threei} lol
[15:10] {Raven} 3 Dow switching positions as fast as Obama and McCain
[15:12] {Threei} for all this hoopla, Dow and COMP are slightly green, futs asre slightly red
[15:15] {dino} crazy summer market
[15:15] {patience} no kidding
[15:15] {Threei} first in my trading career
[15:15] {patience} where' raven, he's traded longer than us
[15:16] {Raven} 3 I are here
[15:16] {dino} darn fmcn didn't fill my 22.60 order
[15:16] {patience} when was the market last like this....
[15:17] {dino} 2000\
[15:17] {Raven} 3 never was ... all markets slightly different
[15:17] {Threei} very valuable
[15:17] {cosmo} it never changes
[15:17] {Threei} come on Raven
[15:17] {Threei} tell us... ever seen summer market as active as this?
[15:17] {Raven} 3 sure
[15:17] {cosmo} last year
[15:18] {Raven} 3 most recently in the bull of 1990's
[15:18] {Raven} 3 lotsa action in summers then
[15:19] {Threei} maybe I've forgotten... my impression is there was significant slowdown
[15:19] {Raven} 3 ya gotta go back, year by year ... and that is tedious
[15:20] {Raven} 3 I remember some summers in the 1970's when things were very active
[15:20] {Raven} 3 of course the NYSE oinly traded 10 million shares a day ... lol
[15:20] {Raven} 3 all relative
[15:21] {cosmo} all on the phone too
[15:21] {Raven} 3 rofl
[15:22] {Raven} 3 thx cosmo
[15:22] {cosmo} :)
[15:22] {Raven} 3 prolly cell phones too
[15:22] {cosmo} hmm
[15:23] {cosmo} quotrek maybe
[15:23] {cosmo} nah
[15:23] {cosmo} too soon
[15:23] {Raven} 3 this market could stand a little comedy for a change ...
[15:24] {Raven} 3 frickin' gloom gets old after a while
[15:24] {Threei} no way
[15:24] {cosmo} we need change
[15:24] {Threei} end of the world is always fun stuff
[15:25] {Threei} just remember all the fun we had with Y2K
[15:25] {Raven} 3 36000 on the DOW more fun though
[15:25] {Threei} that I'll have to agree with
[15:25] {Raven} 3 Y2K ... yes ... did we survive it ?
[15:26] {Threei} not sure
[15:26] {Raven} 3 checking
[15:26] {Threei} but the way I think of it is,
[15:26] {cosmo} not yet anyway
[15:26] {Threei} as gloomy as things are right now
[15:26] {Threei} imagine the magnitude of relief if/when we finally are out of the woods
[15:27] {Threei} market will skyrocket on relief alone
[15:27] {patience} what year are you thinking that will be vad?
[15:27] {Threei} and if we never do get out of the woods... it's the end of the world anyway, who cares
[15:27] {Threei} we will have to live off the land
[15:27] {Threei} hmmm
[15:27] {Raven} 3 ohmygod
[15:27] {cosmo} we'll always have gravity
[15:28] {Raven} 3 is that like gravy ?
[15:28] {Threei} don't know what year... but it feels tio me that whenever reversal comes, it won't be of that standard capitulation and V-bottom kind
[15:28] {Threei} rather slow grind
[15:28] {dino} think so too, people will just give up
[15:28] {Chaeron} like pulling up on the stick of an airplane in a steep dive?
[15:29] {Chaeron} and the pilot can see the whites of the eyes of that mountain goat he's about to hit?
[15:29] {Threei} lol
[15:29] {dino} hadn't really thought about that
[15:29] {Threei} plate-shaped bottom
[15:29] {Threei} if I may say so
[15:30] {Raven} 3 mountain goats ... plates ... sheesh
[15:30] {Threei} we have vivid imagination
[15:30] {Chaeron} where else you get this type of entertainment?
[15:30] {Chaeron} other than when you drink half a bottle of tequila or vodka that is
[15:31] {Raven} 3 I was thinking that
[15:32] {Threei} tepmted to short FRE
[15:32] {Chaeron} I'm ready....
[15:32] {Threei} market is locked in narrow range
[15:33] {Threei} need it to break
[15:33] {Chaeron} .87?
[15:33] {Threei} can't tell really, it's more about market move than about technical levels on a stock
[15:35] {Threei} in
[15:35] {Threei} 8.01 stop
[15:38] {Threei} come on, let's see good old-fashioned panic into close
[15:39] {Threei} who wants to own this stock overnight
[15:42] {Chaeron} thought no overnights
[15:42] {magoo} not me..done for day..TY
[15:43] {Threei} no... I mean, who would want to hold it, sell into oblivion :)
[15:47] {Threei} all this barrage of bad news followed by worse followed by worst
[15:47] {Threei} and we close flat to green
[15:48] {Threei} financials, oil spike, Irna firing something somewhere
[15:48] {Threei} oh, and Bertha
[15:49] {patience} it was a good day for fertilizers, gold and oil, i'm not complaining :)
[15:49] {Threei} not complaining either
[15:49] {Threei} just wondering... with such resilience, maybe end of the world is canceled again
[15:51] {Threei} no end of day dumping either
[15:55] {dino} yet
[15:55] {Threei} yeah, a lot can happen in 5 min these days :)
[15:57] {Threei} lol... up into close
[15:58] {magoo} good nite
[15:58] {Threei} all indices and futs green
[15:58] {Threei} take care magoo
[15:58] {Threei} OK guys, have a good evening
[15:58] {Threei} see you tomorrow
[15:59] {dino} out cavm .61 -.19
[08:21] {Threei} Good morning
[08:21] {Threei} FRE all time lows
[08:21] {Threei} FNM follows the suit
[08:30] {Threei} INITIAL JOBLESS CLAIMS: 346K V 395KE;
[08:30] {Threei} ONTINUING CLAIMS: 3.202MM V 3.140ME
[08:30] {Threei} Prior Continuing Claims revised from 3.116M to 3.111MM
[08:34] {brian3579} gm all
[08:34] {Threei} brian :)
[08:44] {Threei} 07/09/08 08:25pm
[08:44] {Threei} (US) WSJ reports that President Bush's administration has held discussions about what to do in the event that Fannie Mae and Freddie Mac falter - WSJ
[08:44] {Threei} - The report cites 3 people familiar with the situation.
[08:44] {Threei} - According to the article, these talks have been going on for months and are part of normal contingency planning that the Treasury Dept and other financial regulators regularly undertake, but the talks have become more serious recently.
[08:44] {Threei} at this rate they'll be at zero next week
[08:46] {Threei} WB
[08:46] {Threei} CHAIRMAN SMITH: WE HAVE A STRONG CAPITAL FOUNDATION AND OPTIONS FOR ADDRESSING THE CAPITAL BASE - CONF CALL COMMENTS
[08:47] {Threei} yup
[08:57] {magoo} mornink comrades
[08:57] {Threei} magoo :)
[09:00] {dino} gm all, brb
[09:00] {Threei} dino :)
[09:00] {Threei} hurry back
[09:00] {tomg} gm all
[09:01] {Threei} you want to be here for historic moment of FNM and FRE hitting zero, and if you are away for more than 15 minutes you do risk to miss that
[09:01] {Threei} tom :)
[09:01] {Threei} OPEC: CUTS 2015 DEMAND FORECASTS, SAYS EIA AND IEA ARE TOO OPTIMISTIC REGARDING FUTURE DEMAND
[09:02] {Threei} TGAL
[09:02] {Threei} RECEIVES 901ACS PLASMA ETCH SYSTEM ORDER AND ACS UPGRADE ORDERS FROM LEADING MAKER OF COMMERCIAL BIOMEMS-BASED MEDICAL TESTING PRODUCTS
[09:02] {fernp} Good morning all
[09:06] {Threei} fern :)
[09:07] {magoo} what ya thinking for today vad?{i know, i know..u don't think} BUT u usually have good feel...as in, little selloff then up? or more drearey down what?
[09:07] {Threei} you know, so far no feel at all
[09:07] {Threei} tried to get some read,
[09:07] {Threei} and found out that this is kind of day when anything can happen at any moment
[09:08] {Threei} FRE/FNM situation is ripe for some extreme events
[09:08] {Threei} and possible external interventions
[09:08] {Threei} and whole market will react violently if something happens with those two
[09:09] {Threei} I had an interesting talk yesterday with a guy who has a window into quite a few trading accounts at many brokerages
[09:09] {Threei} his words:
[09:10] {Threei} "a lot of traders who made money consistently year over year are hurting badly last month or so"
[09:10] {Threei} I am not surprized
[09:11] {Threei} extreme chop makes practically any system prone to more frequent stops
[09:11] {Threei} we see it too
[09:14] {judijim} good morning everyone
[09:15] {Threei} jj :)
[09:15] {cosmo} FCSX: FCStone misses by $0.05, beats on revsBriefing.com(Thu 8:05am)
[09:15] {magoo} yeah vad, i am down mon..up tues..down wed...hopefully up today...SIGH
[09:16] {magoo} like my RIMM short yesterday...rinse then collaspe
[09:16] {dino} rinse city boys
[09:16] {Threei} what a relentless selling on these two
[09:18] {Threei} both are shortable on Laser
[09:19] {Threei} let's stick to a very conservative side today
[09:20] {Threei} it's likely to be very choppy and listless
[09:24] {dptl} good morning all
[09:26] {Threei} dp :)
[09:28] {dino} colb ouch
[09:32] {Threei} 8.50 half lot short FRE if stays under .75
[09:34] {Threei} 1:1
[09:34] {Threei} scalping only at this point
[09:35] {tomg} nice one vad, missed it myself (:
[09:35] {Threei} FNM considerably stronger
[09:36] {Threei} 13.50 nearest resistance for it
[09:36] {Threei} not sure whether short it here or wait for stronegr bounce
[09:38] {Threei} RMBS .39 short if stays under .60
[09:38] {Threei} FRE bottomless
[09:39] {Threei} let's do half lot RMBS
[09:42] {Threei} 1:1
[09:42] {Threei} and over
[09:42] {Threei} my a$$ is out
[09:42] {tomg} missed again, all thumbs today
[09:43] {Threei} taking the surest money today
[09:43] {Threei} it bounced right into trigger after setting up...
[09:43] {Threei} gave entry chance
[09:43] {tomg} my fault, looked away a min
[09:44] {Threei} {AWAY} I am a looker alright
[09:44] {tomg} :)
[09:45] {tomg} got LEH long, though
[09:45] {Threei} nice spike on it
[09:45] {tomg} got out too soon, argh
[09:46] {Threei} no such thing today
[09:46] {Threei} take sure money
[09:46] {tomg} ok
[09:46] {Threei} smackdowns will be so violent, you can go from nice gain to disgusting loss faster than you can say OY
[09:46] {dino} aaww
[09:46] {Threei} have a look at LEH right now for illustration
[09:46] {tomg} yep, see what you mean
[09:47] {tomg} wow
[09:47] {tomg} happy with my .50 , whew!
[09:47] {magoo} nice start vad
[09:47] {Threei} ty mags
[09:47] {Threei} there you go tom... almost one buck down in one exhale
[09:48] {tomg} man
[09:48] {tomg} in less than a minute, too
[09:48] {Threei} ugh, missed WB long... didn't trust it
[09:50] {Threei} REPORTEDLY US TSY PAULSON TO MAKE COMMENTS FOR NEED FOR TIGHTER MARKET OVERSIGHT AND DISCIPLINE
[09:51] {Threei} closing barn doors after horses are gone?
[09:51] {Threei} where was this guy when banks flooded market with mortgage-back derivatives
[09:51] {Threei} backed
[09:52] {Threei} WB, reluctant long closer to 13.50
[09:52] {Threei} half lot!
[09:52] {Threei} wait with entry for FNM bounce
[09:53] {Threei} in
[09:53] {Threei} .39 stop
[09:54] {Threei} got .56
[09:54] {tomg} .57 here
[09:54] {Threei} stop to .45
[09:55] {Threei} not taking any chances for bigger loss than I can shrug off
[09:55] {Threei} rather will be shaken out than risk any quick selloff with slippage
[09:56] {Threei} needs to break .65
[09:57] {Threei} out
[09:57] {tomg} out
[09:57] {Threei} FNM losing ground again
[09:58] {cosmo} SYMC 19.24 = hod fwiw
[09:59] {cosmo} testing
[10:01] {Threei} TREASURY SEC PAULSON: FRE AND FNM ARE ADEQUATELY CAPITALIZED, FINANCIAL FIRMS MUST BE ALLOWED TO FAIL
[10:01] {cosmo} along with the home owners
[10:03] {dino} will 11120 hold?
[10:03] {Threei} Doesn't like it will
[10:04] {dino} thinking no
[10:04] {Threei} doesn't look
[10:04] {Threei} FRE
[10:04] {Threei} .49 short half lot
[10:04] {Threei} if stays under .65
[10:05] {Threei} 1:1 easy
[10:05] {Threei} covering half
[10:05] {Threei} let's try to ride a little
[10:05] {Threei} if no worky, back to scalps
[10:05] {dino} they are gearing up for a failure, "the problem of to big to fail"
[10:06] {Threei} sounds right
[10:06] {Threei} and scary
[10:06] {Threei} out second half
[10:07] {Threei} scalps r us
[10:08] {Threei} too many external noises are being made and each impacts the market
[10:08] {Threei} too ensitive to news and sound bites
[10:13] {Threei} FRE .49 short half lot
[10:13] {Threei} .65 stop
[10:13] {Threei} FNM diving
[10:14] {Threei} should take FRE with it
[10:15] {Threei} 1:1
[10:15] {dino} new lows dji
[10:18] {Threei} XLF 18.99 short if stays below 19.10
[10:19] {Chaeron} Good morning all
[10:21] {Threei} chaeron :)
[10:21] {Threei} missed a few good ones
[10:22] {Chaeron} hope there are more
[10:23] {Threei} SPOKESPERSON: FRE HAS 'ABSOLUTELY ENOUGH CAPITAL', COMMITTED TO RAISING ADDITIONAL CAPITAL WHEN APPROPRIATE
[10:23] {Threei} - States capital raise depends on market conditions{FNM XLF}
06[10:23] * Threei is crying
[10:25] {Threei} LEH
[10:25] {Threei} CNBC'S FABER: THERE ARE LOTS OF RUMORS, THEY ARE NOT TRUE, BUT THAT DOESN'T MATTER
[10:25] {Threei} huh?
[10:25] {Threei} new low FRE
[10:25] {Threei} and FNM
[10:26] {Threei} OK, this starts looking as panic
[10:27] {dino} v sm, risky, l cme 309.01
[10:27] {Threei} REPUBLICAN PRESIDENTIAL CANDIDATE MCCAIN: US CAN NOT ALLOW FRE, FNM TO FAIL
[10:28] {Threei} see tis headline and bounce?
[10:28] {Threei} unbelieavble sensitivity to any sound bite
[10:29] {dino} yeah, and we thought magoo was sensitve
[10:30] {Threei} sensitive magoo - now this is the concept I need a while to get used to
[10:31] {Threei} didn't we read yesterday somewhere that FNM backs up about 70% of mortgages in USA?
[10:31] {Threei} if memory serves me right and it's so... what could mechanics of its failure even be??
[10:34] {Threei} careful long FRE here
[10:34] {Threei} stop under .25
[10:34] {Threei} so keep size reasonable
[10:34] {Threei} not a scalp
[10:34] {Threei} aiming for closer to 8
[10:39] {Threei} held support with nice precision so far... now go you lame half dead financial mess
[10:39] {Chaeron} ah... the softer, kinder, nicer side of Threei
[10:39] {Threei} lol
[10:40] {Chaeron} cut the crap and use the boot or 2x4
06[10:40] * Threei kicks FRE in the rear with heavy duty army boots
[10:41] {Threei} lookie lookie
[10:41] {Chaeron} see?
[10:41] {magoo} wow..u ok?
[10:42] {Threei} me??
[10:42] {Threei} ask FRE!
[10:42] {magoo} yeah
[10:42] {Chaeron} where exit?
[10:42] {Chaeron} 8?
[10:42] {Threei} your choice
[10:42] {magoo} .93
[10:42] {Threei} scalp or hold
[10:42] {Threei} or partial
[10:42] {Threei} all bets are off today
[10:43] {Threei} we all have different risk tolerance
[10:43] {Threei} I don't want to impact your decision on such dangerous day
[10:43] {Threei} my personal is wehat magoevsky said
[10:44] {Threei} but I have a few nice wins from previous trades under my belt
[10:44] {Threei} and you camne in late for those
[10:44] {Chaeron} today's dangerous?
[10:44] {Threei} that does it
06[10:44] * Threei slaps Chaeron around a bit with a large trout
[10:44] {dptl} lol
[10:45] {Chaeron} I'm still waiting for your MOAB calls
[10:46] {Threei} not yet...
[10:46] {Threei} IMO{ this bear hasn't run its course yet
[10:46] {Chaeron} ok, how many of you punched in MOAB into your Level2? Truth now gang... LOL
[10:46] {Threei} lol
[10:46] {Threei} WHITE HOUSE: FOCUSED ON LEGISLATION FOR FRE, FNM THAT WILL PROVIDE MARKETS WITH CONFIDENCE
[10:47] {Threei} hmmm
[10:47] {magoo} what u get as entry ?
[10:47] {Threei} I'd expect more upside off this soundbite
[10:47] {Threei} maybe partial
[10:48] {Threei} .47
[10:48] {Threei} half out for me here
[10:48] {Threei} changing plan a little
[10:49] {Threei} market sharp downtick again
[10:50] {Threei} I guess while govt sounds like its ready to bail them out, nobody knows what terms would be
[10:50] {Threei} I mean, Bear Sterns bailout didn't do much for shareholders, right?
[10:50] {Threei} so immediate impact on trading is contained by that uncertainty
[10:51] {Threei} my stop is trailed to .45 on FRE
[10:51] {Chaeron} FRE in .27 out .80 +0.53... thanks Threei
[10:51] {Chaeron} (sorry about the agressive entry but had a tight stop)
[10:52] {Threei} why sorry
[10:52] {Threei} which type of entry one takes is entirely up to one
[10:52] {Chaeron} not normal
[10:52] {Threei} regular vs aggressive vs conservative
[10:55] {Threei} FED'S BERNANKE: FED IS PAYING ATTENTION TO FINANCIAL SYSTEM, FEELS MARKET REFORM SHOULD BE COMPLETELY CORRECTLY RATHER THAN WITH SPEED - Q&A
[10:57] {magoo} the news imo..is setting us up for move to greenland
[10:57] {magoo} any thoughts vad
[10:57] {Threei} can't tell really
[10:57] {Threei} it changes too quick and too often
[10:58] {Chaeron} patience is required
[10:58] {Chaeron} personally I am glad she's here everyday..............
[10:59] {patience} laughing
[10:59] {Threei} FNM sharp selling
[10:59] {Threei} FRE is holding a little better
[10:59] {Threei} out second half
[11:00] {Threei} letting it sort out the mess a little before I look for the next setup
[11:00] {Threei} also I need a little time to fix my shoulder
[11:01] {Threei} dislocated it while patting myself on the back for the precision with which FRE held stop level
[11:04] {Chaeron} anyone else having chart feed probs?
[11:04] {magoo} good here on serv 1
[11:05] {Threei} PIMCO SPOKESPERSON: PIMCO CONTINUES TO TRADE WITH LEH
[11:06] {Chaeron} thanks mags
[11:10] {magoo} works for u?
[11:11] {Chaeron} now it is on there... thanks
[11:28] {Chaeron} .
[11:28] {Threei} fine point
[11:29] {Threei} S SENATE VOTES TO LIMIT DEBATE ON THE THIRD SECTION OF THE HOUSING BILL, AS EXPECTED
[11:29] {Threei} - this procedural vote allows the Senate to move forward with a vote on the full housing bill
[11:29] {Threei} - note: the bill had been held up for several weeks by an attempt to attach a rider that would add billion of dollars in renewable energy tax credits. The sponsor of that rider said he would drop his efforts to add it into this bill.
[11:31] {magoo} vads, u got any friar tuk left?
[11:34] {magoo} out here .60 + 1 point
[11:34] {Chaeron} beauty magoo
[11:35] {patience} good day for you magoo :)
[11:36] {Threei} wtg mags
[11:38] {Threei} US TREASURY'S PAULSON: CONFIRMS STRONG USD POLICY, AS US HAS 'BEST LONG TERM FUNDAMENTALS' OF DEVELOPED COUNTRIES, WILL BE REFLECTED IN VALUE OF CURRENCY
[11:40] {Threei} CFTC NOTES THAT IT HAS OBSERVED NO SYSTEMATIC EFFORT TO INCREASE OIL PRICES
[11:40] {Threei} oh good
[11:43] {Threei} FNM pullback should be buyable
[11:43] {Chaeron} as close to...?
[11:44] {Threei} about here
[11:47] {Threei} in
[11:47] {Threei} stop under .80
[11:48] {Threei} not time yet
[11:49] {Threei} next leg down then
[11:49] {Threei} closer to .50
[11:51] {dino} wynn blood
[11:51] {Threei} .67 - .97 scalp... too fast to post sorry
[11:56] {Threei} WB
[11:56] {Threei} CEO STEEL: DEPOSITS AND BASIC LENDING ARE STRONG
[11:56] {Threei} the more they repeat it...
[11:56] {Threei} FED'S BERNANKE: GSES `WELL CAPITALIZED' ON A REGULATORY BASIS
[12:00] {Threei} watching NLY for pullback long entry
[12:03] {Threei} if no pullback, then .75 long with stop under .60
[12:04] {Threei} would love to see FNM goping upo for NLY entry
[12:05] {Threei} WB
[12:05] {Threei} RATINGS ON REVIEW FOR POSSIBLE DOWNGRADE AT MOODY'S
[12:07] {Threei} GEORGIA RECALLS ITS AMBASSADOR FROM RUSSIA FOR CONSULTATION
[12:10] {Threei} scratching N LY
[12:10] {Threei} stalled
[12:10] {Threei} want easy money only today
[12:15] {magoo} i do{oops..thought it was a question}
[12:16] {Threei} lol
06[12:16] * magoo slaps patience around a bit with a large trout
[12:17] {patience} ok, magoo, what's up
[12:18] {magoo} u are now designated my official dave warm up slap-ee
[12:18] {patience} magoo, you make me feel special
[12:19] {magoo} u are special to magoo
[12:24] {judijim} wehave been been trading only momentum trades for 10 to 30 minutes once or twice a week.
[12:25] {Threei} whatever works jj
[12:25] {magoo} from what u been posting, u have been doing quite well
[12:25] {Threei} if you used chicken entrails as indicator for entry and it was profitable - I say more power to you
[12:25] {magoo} 2 days over a grande each correct?
[12:26] {judijim} yes
[12:26] {Threei} now, if you had to bury a bat bone on the crossroad in full moon night - that could be aproblem
[12:27] {Chaeron} other than waiting for a full moon, what's the problem?
[12:27] {Threei} catching a bat, too much work... and most crossroads are covered with concrete these days, again increases a workload
[12:27] {Chaeron} details, details :)
[12:28] {Threei} chicken entrails on the other hand...
[12:28] {kazaam} hmmm, all these methods sound better than mine, throwing darts at my lcd...
[12:29] {judijim} today we tried 10 stocks and was up over 1100 dollars and before we could get out we made only 93 dollars
[12:29] {Threei} I like that one kaz... the trouble is I hit the LCD too often
[12:29] {Threei} wow jj
[12:29] {Threei} what happened?
[12:30] {Threei} they moved against you too fast for exit?
[12:30] {judijim} the timing was wrong
[12:30] {Threei} well, today was very hectic
[12:31] {dptl} what is your lot size judi...if i may ask?
[12:32] {magoo} what im interested in hearing is how the two of your can decide together{and in a timely fashion} on entries and exits
[12:32] {judijim} we buy only 100 shares right now
[12:32] {judijim} 10 stocks at a time
[12:33] {dptl} $1100 with 100 shares?
[12:33] {judijim} in a couple of months going to maybe200 each
[12:34] {judijim} we always buy 100,000 dollars at a time
[12:34] {magoo} whattttttttttttttttttttttttt? as magoo faints
[12:34] {dptl} so its about a $1 everege win per stock?
[12:35] {dptl} i am confuse
[12:35] {dino} out cme 313.21, +4.21
[12:35] {judijim} I was trying to dcc Vad , dont want to step on any toes
[12:35] {Threei} you don't... share freely :)
[12:35] {Threei} and to dcc, simply doubleclick on my nick
[12:35] {dino} tough crowd
[12:36] {judijim} since may 19, up just over 20,000 dollars
[12:36] {dino} magoo was only joiner
[12:36] {Threei} yes dino... they can focus on one person at a time
[12:36] {dino} dino is back
[12:37] {Threei} to chew gum and walk - no can do
[12:37] {judijim} i would be glad to share the stocks with anyone
[12:37] {Threei} you have floor jj
[12:38] {judijim} we buy on the high offer to save time
[12:38] {magoo} ok ok ...dino..........i took his trade at 307.00 and exited 311.56 THERE
[12:38] {judijim} and sell on the high offer
[12:38] {Threei} if you want, I'll efdit it out when post room transcript so it remains within RT
[12:40] {magoo} sheesh.i hope u edit some of my wise cracks boss
[12:40] {judijim} all our stocks are low pe and high growth type for investing, except we day trade these stocks
[12:41] {judijim} we were using two level twos for hedge when swing trading but not for about 6 weeks
[12:42] {dptl} i see .....ty
[12:43] {judijim} we found that our stocks move different from the dow and s&p
[12:44] {dino} ha, different, you should see magoo try to dance
[12:45] {judijim} also, for the last 3 weeks, been trading same stocks each day we trade
[12:47] {dino} whatever you're doing, keep doing it, gj
[12:47] {Threei} {magoo} sheesh.i hope u edit some of my wise cracks boss {---- nope, I actually add to them
[12:47] {magoo} man o man..vad hasn't made 20k in 2 years he he {as magoo grabs vodka and heads for nearest cave}
06[12:47] * Threei slaps magoo around a bit with a large trout
[12:47] {judijim} today was the first day we trades short beleive it or not in about two months
[12:48] {kazaam} are you trading stocks that are in the dow and sp?
[
[12:50] {dino} fmcn drops
[12:51] {judijim} we still have problem of exiting too soon
[12:51] {kazaam} mmmm, clf and anr are so good to me, makes me want to compose a song for them
[12:52] {kazaam} but of course, vad will have to sing it
[12:52] {kazaam} i am no singer
[12:53] {Threei} you don't want to be around when I siign
[12:53] {Threei} sing
[12:53] {Threei} people have been known to break down windows trying to get out of the zone of horror
[12:54] {judijim} yesterday, we got out at over 1000 dollars in ten minutes and then watched the rise another 2700 dollars in another 20 minutes
[12:55] {judijim} all done by 7:20 am yesterday morning
[12:56] {Threei} FMCN small shares short IF breaks down .40
[12:57] {Threei} .55 stop
[12:58] {dino} want it long off of 22.60
[12:58] {Threei} yup, if breaks .60 likely to bounce
[12:58] {Threei} wait, 22?
[12:58] {Threei} or 23?
[12:59] {dino} 22.60 waiting for it
[12:59] {Threei} oh OK, misunderstood you
[12:59] {dino} most likely won't happen, but lets see
[13:05] {judijim} signing off , have a great day everyone
[13:06] {Threei} take care jj, thanks for sharing
[13:06] {dptl} ty judi
[13:07] {kazaam} tks, cya tomorrow
[13:08] {dino} cya jj
[13:08] {Threei} no worky
[13:11] {magoo} good deal jj:)
[13:11] {dino} sm l fmcn .60 stop lod
[13:30] {dino} cavm sm l .80
[13:32] {Threei} RMBS
[13:32] {Threei} .41 long
[13:32] {Threei} .29 stop
[13:50] {Threei} no worky
[14:00] {dino} fmcn stop to b/e
[14:11] {dino} good thing, fell fast
[14:16] {Threei} wow
[14:17] {Threei} watched FRE trying to determine whether it's time to short
[14:17] {Threei} when it dropped before my very eyes almost 20 cents in no time
[14:18] {kazaam} here comes oil
[14:21] {Threei} FORMER FED PRESIDENT POOLE SUGGESTS THE GSES SHOULD BE NATIONALIZED - TV INTERVIEW
[14:21] {Threei} - follows comments he made overnight that the GSE's are "insolvent" and are increasingly likely to need a bail out
[14:21] {Threei} Y
[14:21] {Threei} I
[14:21] {Threei} K
[14:21] {Threei} E
[14:21] {Threei} S
[14:21] {Threei} is this waht oil reacted to?
[14:22] {Threei} seeing nationalizing of FRE/FNM as hugely inflationary step?
[14:25] {dino} don't really know what to make of it, other than the mortgage guarantees are good
[14:25] {Threei} implications are too deep and wide
[14:25] {Threei} I wouldn't even try to analyze them on the go
[14:25] {Threei} huge new debt taken on, one side
[14:25] {Threei} motrgages salvation on another
[14:26] {Threei} jeez
[14:26] {Threei} look at USO
[14:26] {dino} iran tensions
[14:28] {Threei} are there any new news on that?
[14:28] {Threei} I don't see anything
[14:29] {dino} 1:54, oil rebounds as iran tensions flare
[14:29] {cosmo} maybe this is the day before free energy disclosure?
[14:31] {dino} cavm approaching original target
[14:31] {dino} fmcn i mean
[14:33] {dino} i was thinking on oil, last year cost me $3,600 to heat my house, this year $7,200?
[14:33] {Threei} easily
[14:33] {Threei} if not more
[14:34] {Threei} there is till time left before winter for prices to increase
[14:34] {dino} crazy, few years ago it was only $2k
[14:35] {dino} wynn lod
[14:35] {Chaeron} move near me...
[14:36] {Chaeron} turned on furnace only a few times
[14:36] {Chaeron} last winter
[14:36] {Chaeron} and not even turned on ac so far this summer :)
[14:38] {Raven} 3 switch to nat gas dino
[14:38] {dino} thinking about it raven. just signed some leases w/chesapeake
[14:39] {Raven} 3 $700 to heat my house last winter
[14:39] {Raven} 3 and we're as cold as you guys
[14:39] {Raven} 3 maybe colder
[14:39] {dino} gas?
[14:39] {Raven} 3 yup]-]
[14:39] {Chaeron} good idea Raven... seriously
[14:39] {dino} sm l wynn .00
[14:40] {Raven} 3 OIl heat is a killer
[14:40] {dino} hmmmmmmm, must lokk into this
[14:40] {dino} look
[14:41] {dino} raven, if i may ask, square footage of your house?
[14:42] {Raven} 3 about 2700 ... first floor and finished basement
[14:42] {dino} ok, ty
[14:42] {Raven} 3 very well insulated also
[14:42] {dino} you don't heat basement do you? i have radiant in the floor but don't use it in basement, always constant 64
[14:43] {Raven} 3 absolutely heat basement ... 100% .... office down here
[14:43] {dino} lol, i see
[14:44] {Raven} 3 rebuilt the whole damn house in 2000 and switched to nat gas
[14:44] {Raven} 3 windows, doors, roof , siding ... whole damn mess
[14:44] {cosmo} move to AZ while its cheap
[14:45] {Raven} 3 that is in back of my mind cosmo ... more and more
[14:45] {cosmo} :)
[14:46] {Raven} 3 trouble is ya can't give a house away in this miserable state
[14:48] {cosmo} they're all miserable...
[14:48] {Raven} 3 lol ... not like Michigan
[14:48] {Raven} 3 land of the former auto industry
[14:48] {dino} ouch
[14:49] {Raven} 3 high paid union workers with no jobs
[14:49] {Raven} 3 high taxes on business
[14:49] {Raven} 3 great environment for growth
[14:49] {cosmo} what crop?
[14:49] {dino} yeah right
[14:50] {Raven} 3 marajuana ?
[14:50] {cosmo} four more years...
[14:51] {Raven} 3 read my lips
[14:51] {dino} wynn stopped
[14:54] {Threei} end of the world is back on agenda
[14:54] {Threei} US DOD OFFICIAL: IT APPEARS IRAN LAUNCHED ONLY ONE MISSILE TODAY
[14:54] {Threei} - reminder: Iran test fired four missiles yesterday as its war games continue
[14:55] {Threei} CNBC'S BERTHA COOMBS NOTING A TECHNICAL LEVEL AT $138 WAS REACHED, SENDING CRUDE HIGHER INTO THE CLOSE
[14:55] {Threei} ahhh... it's Bertha
[14:56] {Raven} 3 Bertha baby !
[14:56] {Raven} 3 sigh
[14:57] {dino} perfer becky
[14:58] {Raven} 3 right
[14:59] {Threei} now main question is,
[15:00] {Threei} do shorts cover into close or do longs bail?
[15:01] {patience} short covering...rally starting monday
[15:01] {Threei} wow... we have optimist among us
[15:02] {patience} yes, but i thought the u.s. would lower their rate....was very hopeful, lost the bet and have to buy blueberries for someone
[15:02] {Threei} someone was very happy
[15:02] {Threei} ask me how I know
[15:02] {patience} ?
[15:03] {Threei} I saw happiness in someone's eyes when looked in the mirror
[15:03] {Chaeron} vampires don't have reflections......
[15:03] {patience} roflol
[15:03] {Threei} for other people...
[15:03] {dino} ok, do we see the classic dino rinse on wynn
[15:03] {Threei} they cansee themselves though
[15:04] {Threei} (ask me how I know)
[15:04] {Chaeron} ok ok... "How do you know that Vad?"
[15:04] {Threei} lol
[15:10] {Raven} 3 Dow switching positions as fast as Obama and McCain
[15:12] {Threei} for all this hoopla, Dow and COMP are slightly green, futs asre slightly red
[15:15] {dino} crazy summer market
[15:15] {patience} no kidding
[15:15] {Threei} first in my trading career
[15:15] {patience} where' raven, he's traded longer than us
[15:16] {Raven} 3 I are here
[15:16] {dino} darn fmcn didn't fill my 22.60 order
[15:16] {patience} when was the market last like this....
[15:17] {dino} 2000\
[15:17] {Raven} 3 never was ... all markets slightly different
[15:17] {Threei} very valuable
[15:17] {cosmo} it never changes
[15:17] {Threei} come on Raven
[15:17] {Threei} tell us... ever seen summer market as active as this?
[15:17] {Raven} 3 sure
[15:17] {cosmo} last year
[15:18] {Raven} 3 most recently in the bull of 1990's
[15:18] {Raven} 3 lotsa action in summers then
[15:19] {Threei} maybe I've forgotten... my impression is there was significant slowdown
[15:19] {Raven} 3 ya gotta go back, year by year ... and that is tedious
[15:20] {Raven} 3 I remember some summers in the 1970's when things were very active
[15:20] {Raven} 3 of course the NYSE oinly traded 10 million shares a day ... lol
[15:20] {Raven} 3 all relative
[15:21] {cosmo} all on the phone too
[15:21] {Raven} 3 rofl
[15:22] {Raven} 3 thx cosmo
[15:22] {cosmo} :)
[15:22] {Raven} 3 prolly cell phones too
[15:22] {cosmo} hmm
[15:23] {cosmo} quotrek maybe
[15:23] {cosmo} nah
[15:23] {cosmo} too soon
[15:23] {Raven} 3 this market could stand a little comedy for a change ...
[15:24] {Raven} 3 frickin' gloom gets old after a while
[15:24] {Threei} no way
[15:24] {cosmo} we need change
[15:24] {Threei} end of the world is always fun stuff
[15:25] {Threei} just remember all the fun we had with Y2K
[15:25] {Raven} 3 36000 on the DOW more fun though
[15:25] {Threei} that I'll have to agree with
[15:25] {Raven} 3 Y2K ... yes ... did we survive it ?
[15:26] {Threei} not sure
[15:26] {Raven} 3 checking
[15:26] {Threei} but the way I think of it is,
[15:26] {cosmo} not yet anyway
[15:26] {Threei} as gloomy as things are right now
[15:26] {Threei} imagine the magnitude of relief if/when we finally are out of the woods
[15:27] {Threei} market will skyrocket on relief alone
[15:27] {patience} what year are you thinking that will be vad?
[15:27] {Threei} and if we never do get out of the woods... it's the end of the world anyway, who cares
[15:27] {Threei} we will have to live off the land
[15:27] {Threei} hmmm
[15:27] {Raven} 3 ohmygod
[15:27] {cosmo} we'll always have gravity
[15:28] {Raven} 3 is that like gravy ?
[15:28] {Threei} don't know what year... but it feels tio me that whenever reversal comes, it won't be of that standard capitulation and V-bottom kind
[15:28] {Threei} rather slow grind
[15:28] {dino} think so too, people will just give up
[15:28] {Chaeron} like pulling up on the stick of an airplane in a steep dive?
[15:29] {Chaeron} and the pilot can see the whites of the eyes of that mountain goat he's about to hit?
[15:29] {Threei} lol
[15:29] {dino} hadn't really thought about that
[15:29] {Threei} plate-shaped bottom
[15:29] {Threei} if I may say so
[15:30] {Raven} 3 mountain goats ... plates ... sheesh
[15:30] {Threei} we have vivid imagination
[15:30] {Chaeron} where else you get this type of entertainment?
[15:30] {Chaeron} other than when you drink half a bottle of tequila or vodka that is
[15:31] {Raven} 3 I was thinking that
[15:32] {Threei} tepmted to short FRE
[15:32] {Chaeron} I'm ready....
[15:32] {Threei} market is locked in narrow range
[15:33] {Threei} need it to break
[15:33] {Chaeron} .87?
[15:33] {Threei} can't tell really, it's more about market move than about technical levels on a stock
[15:35] {Threei} in
[15:35] {Threei} 8.01 stop
[15:38] {Threei} come on, let's see good old-fashioned panic into close
[15:39] {Threei} who wants to own this stock overnight
[15:42] {Chaeron} thought no overnights
[15:42] {magoo} not me..done for day..TY
[15:43] {Threei} no... I mean, who would want to hold it, sell into oblivion :)
[15:47] {Threei} all this barrage of bad news followed by worse followed by worst
[15:47] {Threei} and we close flat to green
[15:48] {Threei} financials, oil spike, Irna firing something somewhere
[15:48] {Threei} oh, and Bertha
[15:49] {patience} it was a good day for fertilizers, gold and oil, i'm not complaining :)
[15:49] {Threei} not complaining either
[15:49] {Threei} just wondering... with such resilience, maybe end of the world is canceled again
[15:51] {Threei} no end of day dumping either
[15:55] {dino} yet
[15:55] {Threei} yeah, a lot can happen in 5 min these days :)
[15:57] {Threei} lol... up into close
[15:58] {magoo} good nite
[15:58] {Threei} all indices and futs green
[15:58] {Threei} take care magoo
[15:58] {Threei} OK guys, have a good evening
[15:58] {Threei} see you tomorrow
[15:59] {dino} out cavm .61 -.19
Wednesday, July 9, 2008
Jul 09 2008
Session Time: Wed Jul 09 00:00:00 2008
[08:06] {Threei} EMKR
[08:06] {Threei} WINS $29M IN NEW ORDERS
[08:06] {Threei} - Announced that it entered into two definitive supply agreements for solar cell receivers in June 2008 with a total value of approximately $29 million.
[08:06] {Threei} - These supply agreements incorporate advance deposits to ensure production priority for these customers. The end applications for the product to be delivered range from solar farm to commercial rooftop installations employing Concentrating Photovoltaic (CPV) technology.
[08:37] {judijim} good morning to you all
[08:37] {Threei} jj :)
[09:02] {magoo} morning
[09:03] {tomg} gm all
[09:04] {fernp} Good morning
[09:07] {Threei} magoo, tom, fern :)
[09:09] {dptl} good morning all
[09:10] {Threei} dp :)
[09:12] {Threei} RTEC
[09:12] {Threei} Q2 REVENUE TO EXCEED GUIDANCE, TO BE ABOVE $38M V $36.5ME, EPS GUIDANCE UNCHANGED V -$0.03E
[09:12] {Threei} - The Company now anticipates quarterly sequential revenue growth in Q308
[09:12] {Threei} VVUS on watch for pullback or consolidation/break entry again
[09:14] {Threei} RMBS round two or what
[09:14] {Threei} and no news again??
[09:15] {dino} gm all
[09:15] {Threei} dino :)
[09:18] {dino} :)
[09:24] {GeoArb} gm
[09:25] {Threei} geo :)
[09:28] {magoo} might be a solar dayy vad, my watch list is green
[09:28] {Threei} they got whacked yesterday with oil
[09:29] {Threei} I'd think they are tied again
[09:29] {magoo} tied+tired?
[09:29] {magoo} or connected to oil
[09:30] {Threei} connected to oil
[09:30] {Threei} this connection goes on and off... yesterday hinted we are in on stage
[09:33] {Threei} RMBS .80 break long, stop under .75
[09:34] {Threei} take profit
[09:34] {magoo} to fast'
[09:35] {tomg} thanks vad
[09:35] {Threei} :)
[09:35] {dptl} out +.22 ty
[09:36] {Threei} welcome
[09:36] {magoo} wow...must be me then
[09:37] {Threei} or tom and dp took all there was... tell them to share, what's with 10K lots
[09:37] {tomg} only 400 :)
[09:37] {Threei} and dp 9600... there you have it
[09:37] {dptl} lol...i wish
[09:38] {esemde} good morning....limited connectivity but coming to you from Lake of the woods Canada...nothing but islands and water out in front of us
[09:38] {Threei} hi ese :)
[09:39] {esemde} morning Vad.....
[09:39] {Threei} SOLF
[09:39] {Threei} .81 long
[09:39] {Threei} stop under .70
[09:41] {magoo} got that one
[09:42] {dino} rubbing it in es? lol, have fun
[09:44] {magoo} long aapl ,50
[09:44] {Threei} URRE interesting
[09:44] {Roman} 21 TITN
[09:44] {dino} ezpw, sm l .60
[09:44] {magoo} out .16 here
[09:44] {magoo} +.66
[09:44] {Threei} SOLF stopped
[09:45] {dptl} stopped solf
[09:45] {magoo} figures
[09:47] {Roman} 21 WB
[09:47] {Roman} 21 long small 15.70
[09:48] {Roman} 21 stop under 15.50
[09:49] {Threei} sheesh... forgot about VVUS on pullback to 8
[09:49] {dptl} out another rmbs +.24
[09:49] {Roman} 21 out WB +.01
[09:50] {Roman} 21 ROYL looking for scalp
[09:53] {Threei} VVUS .25 long if stays above .15
[09:55] {Threei} URRE
[09:55] {Threei} 2.92 long if stays above 2.80
[09:55] {Threei} feels like runner in the making
[09:55] {Roman} 21 long WB here
[09:56] {Roman} 21 15.12
[09:56] {Roman} 21 stop 14.95
[09:57] {Roman} 21 out WB +.03
[09:57] {Threei} SQNM again
[09:57] {esemde} solar news this morning??
[09:57] {Threei} nope
[09:58] {Threei} just bounce with oil I believe
[09:58] {Threei} 3 be taken URRE
[10:06] {Threei} SOLF rinsed us
[10:06] {Threei} RUSSIAN DEP PM GOVERMENT TO CUT OIL EXPORT TAX
[10:07] {dino} good
[10:07] {Roman} 21 long SOLF
[10:07] {Roman} 21 15 1/2 size
[10:08] {dptl} rmbs baby ...grabed another +.20
[10:08] {Threei} dp found his personal ATM
[10:09] {dino} gj dp
[10:09] {dptl} lol waiting for urre....... ty
[10:12] {Threei} wow
[10:12] {Threei} TV just said there is shortage of beer in Winnipeg
[10:12] {Threei} ese... what did you do??
[10:17] {dino} wow es
[10:17] {Roman} 21 out 1/2 SOLF +.37
[10:17] {dino} sm l fwlt .98
[10:18] {Threei} good one Roman
[10:18] {Threei} SOLF was kinder to you than to me
[10:18] {Roman} 21 a bit better than +.01 +.03 on WB
[10:19] {Roman} 21 actually spotted nice WB bounce but did not stay
[10:19] {Roman} 21 pus
[10:20] {dptl} urre stop the same under .80??
[10:21] {Threei} yes
[10:21] {dptl} ty
[10:22] {Roman} 21 WM
[10:23] {Roman} 21 interesting
[10:32] {Threei} oil numbers in a few
[10:35] {Threei} OE CRUDE: -5.8M V -2ME
[10:35] {Threei} GASOLINE: +900K V +100KE; DISTILLATES: +1.8M V +2ME;
[10:36] {dino} sm risky s ttes .00
[10:37] {dino} gappy
[10:42] {Threei} LEH
[10:42] {Threei} 22 break long
[10:42] {Threei} .84 stop
[10:42] {magoo} in
[10:45] {Threei} market tripped of something again
[10:46] {Threei} held .85 with remarkable precision
[10:46] {dino} ttes stopped -.50 that sucked
[10:46] {magoo} really
[10:47] {dino} indeed, the f'r popped .45 on my entry. my timing is off lately
[10:48] {magoo} starting to feel the new curse is vad magoo..not chaer magoo
[10:49] {Threei} nope... it's magoo alone
[10:49] {Chaeron} Good morning all
[10:49] {Threei} RMBS which you haven't taken worked, right? :)
[10:49] {Threei} chaeron :)
[10:49] {Chaeron} and yes I'm in LEH
[10:49] {Threei} there you go
[10:50] {dptl} ah stopped leh
[10:50] {magoo} right..missed rnmbs
[10:50] {dino} left
[10:53] {Chaeron} and yes I stopped
[10:56] {Chaeron} tired of getting rinsed
[10:58] {dino} same here chaer, rinses all over lately
[11:01] {dino} praa
[11:01] {dino} leap
[11:05] {GeoArb} fwlt
[11:06] {dino} i it sm
[11:06] {dino} in
[11:06] {dino} swing
[11:07] {dino} chaer, ttes example of above sheesh
[11:09] {Chaeron} feel ya
[11:15] {Threei} RMBS two days chart looks like someone's wierd idea of a joke
[11:18] {Threei} in LEH for a scalp .63
[11:20] {dino} sm l leap .10
[11:21] {Threei} out .82
[11:21] {tomg} nice one vad, ty
[11:21] {Threei} +.19
[11:22] {Threei} welcome
[11:22] {Threei} now, let's see... magoo? chaeron?
[11:23] {Chaeron} nope... sorry
[11:23] {Threei} FNM
[11:23] {Threei} DISCUSSES PLANNED INCREASE IN MULTIFAMILY INVESTMENTS
[11:23] {Threei} - Will expand liquidity, stability and affordability by increasing its participation in key segments of the multifamily market. The company also announced that it has invested $20B in multifamily housing in the first half of 2008, further reinforcing Fannie Mae's leadership in the multifamily market.
[11:23] {Threei} - Fannie Mae is increasing its commitment to purchase Small Multifamily Loans of up to $3M, or $5M in certain markets. These loans typically finance a uniquely affordable asset class consisting of properties that are located in urban areas near public transportation and serve working families. The company invested approximately $5B in Small Loans in the first half of 2008, a significant increase over 2007 mid-year production of $3B. Production includes both pool purchases and flow business.
[11:23] {magoo} nope here
[11:23] {Threei} there you go... curse is intact
[11:24] {magoo} so at very least thank me and chaer
[11:24] {Chaeron} my thoughts exactly
[11:24] {Threei} that assumes I am a polite one...
[11:26] {magoo} i meant Tom
[11:26] {Threei} lol, you gave up on me I take it?
[11:26] {magoo} BINGO
[11:26] {Chaeron} we just know better
[11:26] {Threei} :)
[11:28] {tomg} ty magoo, chaer :))
[11:29] {Chaeron} my pleasure Tom... great job
[11:29] {Threei} see... on tom you can count
06[11:29] * Chaeron slaps Threei around a bit with a large trout
[11:29] {Threei} in politeness department
[11:29] {tomg} trying to do better in that department :)
[11:30] {Threei} if you don't slap people in response to "good morning" you already outdid me
[11:30] {tomg} ha! ok :)
[11:31] {Threei} nsiled bottom on LEH to the cent... didn't hold long enough
[11:32] {tomg} me either, but happy with scalp
[11:35] {Chaeron} next?
06[11:37] * magoo slaps Chaeron around a bit with a large trout
[11:37] {magoo} next slap correct?
[11:41] {magoo} long aaplk .50
[11:44] {Threei} ACOR small shares .50 break long
[11:45] {Threei} stop under .30
[11:45] {magoo} stopped .04
[11:53] {Threei} invalidated
[11:54] {dino} ezpw stop to b/e
[11:58] {Threei} SQNM half lot long .60 if stays above .45
[11:59] {magoo} can chaer and i take it??
[11:59] {Threei} 10K only
[11:59] {dptl} ok,then i pass
[11:59] {Threei} invalidated anyway :)
[12:00] {Chaeron} I like it better when Threei says ":double position" over half lot...
[12:01] {Threei} actually, there were no prints under .45
[12:02] {Chaeron} so it's on again?
[12:02] {Threei} yeah
[12:04] {dino} sm l dwsn .65
[12:06] {Threei} market loses steam again...
[12:07] {dptl} come on urre
[12:07] {magoo} vad,look at qqqq chart..big volume on that red bar
[12:08] {Chaeron} what the.... SQNM
[12:09] {Threei} volatile one... that's why half lot
[12:09] {magoo} sh rimm loss of 121\
[12:14] {magoo} in
[12:17] {magoo} saw .80..waiting .65
[12:17] {dino} captain cavman blood
[12:17] {dino} cavm
[12:19] {magoo} stiopped rimm
[12:19] {magoo} mkt killed it
[12:20] {Threei} meaningless up and down in the market
[12:20] {Threei} won't alllow any play develop
[12:20] {dino} sm l cavm .59
[12:27] {Threei} URRE moves more or less in synch with oil
[12:28] {Threei} it held above support and forms tighter consolidation to 3
[12:28] {Threei} but whether it's going to break will ultimately depend on oil
[12:39] {Threei} US OFFICIAL SAYS THE IRANIAN RESPONSE TO OFFER SHOWS THE COUNTRY IS LOOKING FOR COMMON GROUND ON THE ISSUE
[12:39] {Threei} I guess that's why oil skyrocketed and market dropped?
[12:44] {kazaam} chop non stop, even a leg down cant go without some chop
[12:44] {Threei} I guess summer shows
[12:45] {Threei} it's the most active summer I've ever seen, but choppiness is there
[12:45] {Chaeron} so I can just go and come back after Labor day? :)
[12:45] {Chaeron} ohh nevermind
[12:45] {patience} sure chaeron, just leave your money with me to look after until then
[12:45] {Threei} and if oil bubble bursts while you are away? imagine the size of rally you are going to miss
[12:46] {Threei} I'll be back in 40 min or so guys, gotta run little errand
[12:50] {Chaeron} patience... that's a winning idea
[12:50] {patience} better pop up to victoria to drop the money off...
[13:02] {dino} cavm stopped
[13:11] {dino} chaer, cavm same thing again
[13:11] {dino} i need a vacation
[13:12] {Chaeron} I noticed... and agree with your prescription for myself as well
[13:12] {dino} :)
[13:37] {kazaam} if i could just make money on picking plays that will move the least, I would be a billion dollar man this week
[13:40] {dino} lol
[13:40] {dino} starting to think i must widen my stops
[13:41] {dino} cavm.........ohhhh mannnnnn
[13:49] {Threei} back
[13:49] {Threei} missed anything?
[13:49] {fernp} difficult times
[13:49] {dino} yeah, another rinse
[13:49] {magoo} nah
[13:49] {Threei} ummm
[13:50] {Threei} thought of LEH of 21 when leaving
[13:50] {Threei} but it went there and bounced wqithout me
[13:55] {Threei} URRE is merrily sleeping
[13:55] {dptl} yeah....all day.....
[13:56] {Threei} lol... while I was away:
[13:56] {Threei} CUT AT S&P TO CCC FROM B
[13:56] {Threei} IMB
[13:57] {Threei} it trades like total pink sheet already, what's left to cut
[14:00] {Threei} URRE at the breakeven point
[14:01] {Threei} I can't make much out of it, if you are tired of holding, scratch it even
[14:01] {Threei} chances of it working are the same as getting stopped out
[14:01] {Threei} roll a dice and decide
[14:14] {Threei} RIMM pullback closer to .50 for long
[14:16] {magoo} 121.50?
[14:16] {Threei} yes
[14:16] {Threei} NQ pulling back
[14:18] {Threei} watch NQ now for bounce to grab RIMM
[14:18] {dptl} out urre -.02
[14:20] {Threei} in
[14:20] {Threei} .33
[14:20] {Threei} stop .15
[14:21] {Threei} come on NQ, spring back
[14:22] {Threei} grrr
[14:22] {Threei} no go
[14:23] {Threei} second try
[14:23] {Threei} in .95
[14:24] {Threei} stop under .80
[14:24] {Threei} out .25
[14:25] {Threei} what a jerky market
[14:32] {dino} ya think?
[14:32] {Threei} LEH .81 long, .74 stop
[14:35] {dptl} ahh stopped leh
[14:36] {Threei} should dive closer to .50 for betgter bounce chance
[14:38] {judijim} siging off for today, cleared $1030 for today, we're here everyday but not always in the market. Be back tomorrow.
[14:38] {Threei} good job jj
[14:39] {dino} gj jj
[14:42] {Chaeron} in LEH @ .59
[14:46] {Chaeron} guess I scared everyone away.....
[14:47] {Threei} FRE drop is weighing on it
[14:53] {dino} well so much for yesterdays' rally
[14:53] {Threei} end of thhe wrold again
[14:53] {Chaeron} stopped -.20
[14:54] {Threei} FNM maybe better candidate for bounce if holds 16
[14:55] {Threei} nope, not holding
[14:55] {Threei} FRE
[14:55] {Threei} TICKING LOWER, HEARING VAGUE RUMOR OF LARGE BLOCK BEING SHOPPED
[14:55] {Threei} - Reminder Cramer made cautious comments in various financial names including FNM and FRE on his Stop Trading segment on CNBC
[14:55] {Threei} and that's the reason?
[14:56] {Threei} vague rumor of large block?
[14:56] {Threei} going to try FNM
[15:00] {kazaam} tex l .05
[15:04] {kazaam} half +.10, half BE
[15:04] {Threei} panic in financials
[15:04] {dino} maybe the =250 today
[15:04] {Chaeron} end of world party vad?
[15:04] {Threei} yes sir
[15:04] {Chaeron} yea!!!!!
[15:04] {kazaam} at least we get a party with the end of the world, that counts for something
[15:05] {Threei} yes, but just two days ago we had three a day
[15:05] {Threei} and today just one
[15:06] {dino} vad, forever unsatisfied
[15:06] {dino} leap stop to b/e
[15:13] {Threei} big bounce FNM
[15:14] {dino} fre at 10, wow
[15:16] {Threei} we need a nice clearance sale
[15:16] {Threei} not one day capitulastion wannabe
[15:16] {Threei} good sizeable selloff taking out the opverhead
[15:16] {Threei} then we can have real rally
[15:26] {dino} unless it just wears everybody out
[15:27] {Threei} and they all stop playing at all?
[15:27] {dino} isn't that how bear markets end, when nobody cares/pays attention
[15:27] {Threei} one of versions, yes
[15:29] {magoo} oitswearing me out..spinning my wheels
[15:33] {Threei} it is tiresome
[15:33] {Threei} but think of it in dino's terms
[15:34] {dino} out leap .50, +.40
[15:34] {Threei} when you shrug and turn away... that's exactly the moment when things change
[15:35] {dino} i'm feeling that way
[15:35] {Threei} it's not a first time we go through churning periods, right?
[15:35] {Threei} they always were followed by big reward periods
[15:35] {dino} yes
[15:35] {Threei} and this churn served as great educational environment
[15:36] {dino} just disappointed in myself last few days
[15:36] {dino} my buy dips -6% sell rips +6% failed me
[15:36] {Threei} if you learned to keep your bacon safe during this chop chop
[15:36] {magoo} me too dino..down mon..up tues..down wed
[15:36] {Threei} normal market rewards you greatly when it finally comes
[15:37] {dino} at least the sun is shining, tee time in 50 minutes
[15:38] {dino} up today, but only 250
[15:38] {Threei} new dump FRE
[15:39] {Threei} peeplz are skeered
[15:39] {dino} brutalc at 52 week lows too
[15:39] {dino} make that multi year lows
[15:40] {Threei} yeah
[15:40] {Threei} wow
[15:41] {magoo} bullish level lowest since 1994
[15:41] {dino} here comes -200
[15:41] {dptl} ah..out fre +.59 ....short
[15:42] {Threei} gj
[15:42] {dino} gj dp
[15:42] {Chaeron} great dp
[15:42] {dptl} ty...still down a bit...really tought these days
[15:42] {Threei} with all this selloff we are still solidly above march lows
[15:43] {Threei} still got ways to go I guess
[15:44] {Threei} who knows, maybe PPT really is a myth? :)
[15:44] {dino} dji low monday 11120, ndx low1799
[15:45] {Threei} I mean, looking at FRE, FNM, LEH... hard to imagine more worthy cause to intervene
[15:45] {dino} it is a myth
[15:45] {dino} -226
[15:45] {Threei} ugh dino
[15:45] {Threei} so cold and cruel... I liked that warm and fuzzy feeling that there is an entity that would protect us...
[15:46] {Threei} from ourselves
[15:46] {dino} 261 point range day
[15:48] {Threei} new low FRE
[15:49] {dino} i had to tell magoo, if markets and trading don't improve, we are switching from miller lite to pabst blue ribbon
[15:50] {dino} wow fre 67 to 9 on a gse, who would've thought
[15:58] {dino} flow dump
[15:58] {Threei} dino... see the time? :)
[15:59] {Threei} FED'S HOENIG: THERE IS ROOM TO MOVE UP FROM CURRENT 2% INTEREST RATES WITHOUT BECOMING 'TIGHT'
[15:59] {Threei} ugh
[15:59] {Threei} shorted .50 FNM
[15:59] {Threei} then decided to close to eod and covered .43
[16:00] {Threei} OK guys
[16:00] {Threei} one more day of churn
[16:00] {magoo} sigh
[16:00] {dino} -242 lod
[16:00] {dptl} have a good evening all
[16:00] {magoo} whren goodday conmes vad...u gotta go like a m,adman
[16:00] {dino} lower low ndx
[16:01] {Threei} have a good evening, see you tomorrow
[16:01] {magoo} hw u like that typing?
[16:02] {dino} thx all, gotta hop
[16:02] {Threei} vat tipyng?
[16:03] {magoo} [16:00] {magoo} whren goodday conmes vad...u gotta go like a m,adman
[16:03] {magoo} gotta be one of my worste
[16:03] {Threei} if you say so... I am sure I've seen you hitting much lower lows :)
[08:06] {Threei} EMKR
[08:06] {Threei} WINS $29M IN NEW ORDERS
[08:06] {Threei} - Announced that it entered into two definitive supply agreements for solar cell receivers in June 2008 with a total value of approximately $29 million.
[08:06] {Threei} - These supply agreements incorporate advance deposits to ensure production priority for these customers. The end applications for the product to be delivered range from solar farm to commercial rooftop installations employing Concentrating Photovoltaic (CPV) technology.
[08:37] {judijim} good morning to you all
[08:37] {Threei} jj :)
[09:02] {magoo} morning
[09:03] {tomg} gm all
[09:04] {fernp} Good morning
[09:07] {Threei} magoo, tom, fern :)
[09:09] {dptl} good morning all
[09:10] {Threei} dp :)
[09:12] {Threei} RTEC
[09:12] {Threei} Q2 REVENUE TO EXCEED GUIDANCE, TO BE ABOVE $38M V $36.5ME, EPS GUIDANCE UNCHANGED V -$0.03E
[09:12] {Threei} - The Company now anticipates quarterly sequential revenue growth in Q308
[09:12] {Threei} VVUS on watch for pullback or consolidation/break entry again
[09:14] {Threei} RMBS round two or what
[09:14] {Threei} and no news again??
[09:15] {dino} gm all
[09:15] {Threei} dino :)
[09:18] {dino} :)
[09:24] {GeoArb} gm
[09:25] {Threei} geo :)
[09:28] {magoo} might be a solar dayy vad, my watch list is green
[09:28] {Threei} they got whacked yesterday with oil
[09:29] {Threei} I'd think they are tied again
[09:29] {magoo} tied+tired?
[09:29] {magoo} or connected to oil
[09:30] {Threei} connected to oil
[09:30] {Threei} this connection goes on and off... yesterday hinted we are in on stage
[09:33] {Threei} RMBS .80 break long, stop under .75
[09:34] {Threei} take profit
[09:34] {magoo} to fast'
[09:35] {tomg} thanks vad
[09:35] {Threei} :)
[09:35] {dptl} out +.22 ty
[09:36] {Threei} welcome
[09:36] {magoo} wow...must be me then
[09:37] {Threei} or tom and dp took all there was... tell them to share, what's with 10K lots
[09:37] {tomg} only 400 :)
[09:37] {Threei} and dp 9600... there you have it
[09:37] {dptl} lol...i wish
[09:38] {esemde} good morning....limited connectivity but coming to you from Lake of the woods Canada...nothing but islands and water out in front of us
[09:38] {Threei} hi ese :)
[09:39] {esemde} morning Vad.....
[09:39] {Threei} SOLF
[09:39] {Threei} .81 long
[09:39] {Threei} stop under .70
[09:41] {magoo} got that one
[09:42] {dino} rubbing it in es? lol, have fun
[09:44] {magoo} long aapl ,50
[09:44] {Threei} URRE interesting
[09:44] {Roman} 21 TITN
[09:44] {dino} ezpw, sm l .60
[09:44] {magoo} out .16 here
[09:44] {magoo} +.66
[09:44] {Threei} SOLF stopped
[09:45] {dptl} stopped solf
[09:45] {magoo} figures
[09:47] {Roman} 21 WB
[09:47] {Roman} 21 long small 15.70
[09:48] {Roman} 21 stop under 15.50
[09:49] {Threei} sheesh... forgot about VVUS on pullback to 8
[09:49] {dptl} out another rmbs +.24
[09:49] {Roman} 21 out WB +.01
[09:50] {Roman} 21 ROYL looking for scalp
[09:53] {Threei} VVUS .25 long if stays above .15
[09:55] {Threei} URRE
[09:55] {Threei} 2.92 long if stays above 2.80
[09:55] {Threei} feels like runner in the making
[09:55] {Roman} 21 long WB here
[09:56] {Roman} 21 15.12
[09:56] {Roman} 21 stop 14.95
[09:57] {Roman} 21 out WB +.03
[09:57] {Threei} SQNM again
[09:57] {esemde} solar news this morning??
[09:57] {Threei} nope
[09:58] {Threei} just bounce with oil I believe
[09:58] {Threei} 3 be taken URRE
[10:06] {Threei} SOLF rinsed us
[10:06] {Threei} RUSSIAN DEP PM GOVERMENT TO CUT OIL EXPORT TAX
[10:07] {dino} good
[10:07] {Roman} 21 long SOLF
[10:07] {Roman} 21 15 1/2 size
[10:08] {dptl} rmbs baby ...grabed another +.20
[10:08] {Threei} dp found his personal ATM
[10:09] {dino} gj dp
[10:09] {dptl} lol waiting for urre....... ty
[10:12] {Threei} wow
[10:12] {Threei} TV just said there is shortage of beer in Winnipeg
[10:12] {Threei} ese... what did you do??
[10:17] {dino} wow es
[10:17] {Roman} 21 out 1/2 SOLF +.37
[10:17] {dino} sm l fwlt .98
[10:18] {Threei} good one Roman
[10:18] {Threei} SOLF was kinder to you than to me
[10:18] {Roman} 21 a bit better than +.01 +.03 on WB
[10:19] {Roman} 21 actually spotted nice WB bounce but did not stay
[10:19] {Roman} 21 pus
[10:20] {dptl} urre stop the same under .80??
[10:21] {Threei} yes
[10:21] {dptl} ty
[10:22] {Roman} 21 WM
[10:23] {Roman} 21 interesting
[10:32] {Threei} oil numbers in a few
[10:35] {Threei} OE CRUDE: -5.8M V -2ME
[10:35] {Threei} GASOLINE: +900K V +100KE; DISTILLATES: +1.8M V +2ME;
[10:36] {dino} sm risky s ttes .00
[10:37] {dino} gappy
[10:42] {Threei} LEH
[10:42] {Threei} 22 break long
[10:42] {Threei} .84 stop
[10:42] {magoo} in
[10:45] {Threei} market tripped of something again
[10:46] {Threei} held .85 with remarkable precision
[10:46] {dino} ttes stopped -.50 that sucked
[10:46] {magoo} really
[10:47] {dino} indeed, the f'r popped .45 on my entry. my timing is off lately
[10:48] {magoo} starting to feel the new curse is vad magoo..not chaer magoo
[10:49] {Threei} nope... it's magoo alone
[10:49] {Chaeron} Good morning all
[10:49] {Threei} RMBS which you haven't taken worked, right? :)
[10:49] {Threei} chaeron :)
[10:49] {Chaeron} and yes I'm in LEH
[10:49] {Threei} there you go
[10:50] {dptl} ah stopped leh
[10:50] {magoo} right..missed rnmbs
[10:50] {dino} left
[10:53] {Chaeron} and yes I stopped
[10:56] {Chaeron} tired of getting rinsed
[10:58] {dino} same here chaer, rinses all over lately
[11:01] {dino} praa
[11:01] {dino} leap
[11:05] {GeoArb} fwlt
[11:06] {dino} i it sm
[11:06] {dino} in
[11:06] {dino} swing
[11:07] {dino} chaer, ttes example of above sheesh
[11:09] {Chaeron} feel ya
[11:15] {Threei} RMBS two days chart looks like someone's wierd idea of a joke
[11:18] {Threei} in LEH for a scalp .63
[11:20] {dino} sm l leap .10
[11:21] {Threei} out .82
[11:21] {tomg} nice one vad, ty
[11:21] {Threei} +.19
[11:22] {Threei} welcome
[11:22] {Threei} now, let's see... magoo? chaeron?
[11:23] {Chaeron} nope... sorry
[11:23] {Threei} FNM
[11:23] {Threei} DISCUSSES PLANNED INCREASE IN MULTIFAMILY INVESTMENTS
[11:23] {Threei} - Will expand liquidity, stability and affordability by increasing its participation in key segments of the multifamily market. The company also announced that it has invested $20B in multifamily housing in the first half of 2008, further reinforcing Fannie Mae's leadership in the multifamily market.
[11:23] {Threei} - Fannie Mae is increasing its commitment to purchase Small Multifamily Loans of up to $3M, or $5M in certain markets. These loans typically finance a uniquely affordable asset class consisting of properties that are located in urban areas near public transportation and serve working families. The company invested approximately $5B in Small Loans in the first half of 2008, a significant increase over 2007 mid-year production of $3B. Production includes both pool purchases and flow business.
[11:23] {magoo} nope here
[11:23] {Threei} there you go... curse is intact
[11:24] {magoo} so at very least thank me and chaer
[11:24] {Chaeron} my thoughts exactly
[11:24] {Threei} that assumes I am a polite one...
[11:26] {magoo} i meant Tom
[11:26] {Threei} lol, you gave up on me I take it?
[11:26] {magoo} BINGO
[11:26] {Chaeron} we just know better
[11:26] {Threei} :)
[11:28] {tomg} ty magoo, chaer :))
[11:29] {Chaeron} my pleasure Tom... great job
[11:29] {Threei} see... on tom you can count
06[11:29] * Chaeron slaps Threei around a bit with a large trout
[11:29] {Threei} in politeness department
[11:29] {tomg} trying to do better in that department :)
[11:30] {Threei} if you don't slap people in response to "good morning" you already outdid me
[11:30] {tomg} ha! ok :)
[11:31] {Threei} nsiled bottom on LEH to the cent... didn't hold long enough
[11:32] {tomg} me either, but happy with scalp
[11:35] {Chaeron} next?
06[11:37] * magoo slaps Chaeron around a bit with a large trout
[11:37] {magoo} next slap correct?
[11:41] {magoo} long aaplk .50
[11:44] {Threei} ACOR small shares .50 break long
[11:45] {Threei} stop under .30
[11:45] {magoo} stopped .04
[11:53] {Threei} invalidated
[11:54] {dino} ezpw stop to b/e
[11:58] {Threei} SQNM half lot long .60 if stays above .45
[11:59] {magoo} can chaer and i take it??
[11:59] {Threei} 10K only
[11:59] {dptl} ok,then i pass
[11:59] {Threei} invalidated anyway :)
[12:00] {Chaeron} I like it better when Threei says ":double position" over half lot...
[12:01] {Threei} actually, there were no prints under .45
[12:02] {Chaeron} so it's on again?
[12:02] {Threei} yeah
[12:04] {dino} sm l dwsn .65
[12:06] {Threei} market loses steam again...
[12:07] {dptl} come on urre
[12:07] {magoo} vad,look at qqqq chart..big volume on that red bar
[12:08] {Chaeron} what the.... SQNM
[12:09] {Threei} volatile one... that's why half lot
[12:09] {magoo} sh rimm loss of 121\
[12:14] {magoo} in
[12:17] {magoo} saw .80..waiting .65
[12:17] {dino} captain cavman blood
[12:17] {dino} cavm
[12:19] {magoo} stiopped rimm
[12:19] {magoo} mkt killed it
[12:20] {Threei} meaningless up and down in the market
[12:20] {Threei} won't alllow any play develop
[12:20] {dino} sm l cavm .59
[12:27] {Threei} URRE moves more or less in synch with oil
[12:28] {Threei} it held above support and forms tighter consolidation to 3
[12:28] {Threei} but whether it's going to break will ultimately depend on oil
[12:39] {Threei} US OFFICIAL SAYS THE IRANIAN RESPONSE TO OFFER SHOWS THE COUNTRY IS LOOKING FOR COMMON GROUND ON THE ISSUE
[12:39] {Threei} I guess that's why oil skyrocketed and market dropped?
[12:44] {kazaam} chop non stop, even a leg down cant go without some chop
[12:44] {Threei} I guess summer shows
[12:45] {Threei} it's the most active summer I've ever seen, but choppiness is there
[12:45] {Chaeron} so I can just go and come back after Labor day? :)
[12:45] {Chaeron} ohh nevermind
[12:45] {patience} sure chaeron, just leave your money with me to look after until then
[12:45] {Threei} and if oil bubble bursts while you are away? imagine the size of rally you are going to miss
[12:46] {Threei} I'll be back in 40 min or so guys, gotta run little errand
[12:50] {Chaeron} patience... that's a winning idea
[12:50] {patience} better pop up to victoria to drop the money off...
[13:02] {dino} cavm stopped
[13:11] {dino} chaer, cavm same thing again
[13:11] {dino} i need a vacation
[13:12] {Chaeron} I noticed... and agree with your prescription for myself as well
[13:12] {dino} :)
[13:37] {kazaam} if i could just make money on picking plays that will move the least, I would be a billion dollar man this week
[13:40] {dino} lol
[13:40] {dino} starting to think i must widen my stops
[13:41] {dino} cavm.........ohhhh mannnnnn
[13:49] {Threei} back
[13:49] {Threei} missed anything?
[13:49] {fernp} difficult times
[13:49] {dino} yeah, another rinse
[13:49] {magoo} nah
[13:49] {Threei} ummm
[13:50] {Threei} thought of LEH of 21 when leaving
[13:50] {Threei} but it went there and bounced wqithout me
[13:55] {Threei} URRE is merrily sleeping
[13:55] {dptl} yeah....all day.....
[13:56] {Threei} lol... while I was away:
[13:56] {Threei} CUT AT S&P TO CCC FROM B
[13:56] {Threei} IMB
[13:57] {Threei} it trades like total pink sheet already, what's left to cut
[14:00] {Threei} URRE at the breakeven point
[14:01] {Threei} I can't make much out of it, if you are tired of holding, scratch it even
[14:01] {Threei} chances of it working are the same as getting stopped out
[14:01] {Threei} roll a dice and decide
[14:14] {Threei} RIMM pullback closer to .50 for long
[14:16] {magoo} 121.50?
[14:16] {Threei} yes
[14:16] {Threei} NQ pulling back
[14:18] {Threei} watch NQ now for bounce to grab RIMM
[14:18] {dptl} out urre -.02
[14:20] {Threei} in
[14:20] {Threei} .33
[14:20] {Threei} stop .15
[14:21] {Threei} come on NQ, spring back
[14:22] {Threei} grrr
[14:22] {Threei} no go
[14:23] {Threei} second try
[14:23] {Threei} in .95
[14:24] {Threei} stop under .80
[14:24] {Threei} out .25
[14:25] {Threei} what a jerky market
[14:32] {dino} ya think?
[14:32] {Threei} LEH .81 long, .74 stop
[14:35] {dptl} ahh stopped leh
[14:36] {Threei} should dive closer to .50 for betgter bounce chance
[14:38] {judijim} siging off for today, cleared $1030 for today, we're here everyday but not always in the market. Be back tomorrow.
[14:38] {Threei} good job jj
[14:39] {dino} gj jj
[14:42] {Chaeron} in LEH @ .59
[14:46] {Chaeron} guess I scared everyone away.....
[14:47] {Threei} FRE drop is weighing on it
[14:53] {dino} well so much for yesterdays' rally
[14:53] {Threei} end of thhe wrold again
[14:53] {Chaeron} stopped -.20
[14:54] {Threei} FNM maybe better candidate for bounce if holds 16
[14:55] {Threei} nope, not holding
[14:55] {Threei} FRE
[14:55] {Threei} TICKING LOWER, HEARING VAGUE RUMOR OF LARGE BLOCK BEING SHOPPED
[14:55] {Threei} - Reminder Cramer made cautious comments in various financial names including FNM and FRE on his Stop Trading segment on CNBC
[14:55] {Threei} and that's the reason?
[14:56] {Threei} vague rumor of large block?
[14:56] {Threei} going to try FNM
[15:00] {kazaam} tex l .05
[15:04] {kazaam} half +.10, half BE
[15:04] {Threei} panic in financials
[15:04] {dino} maybe the =250 today
[15:04] {Chaeron} end of world party vad?
[15:04] {Threei} yes sir
[15:04] {Chaeron} yea!!!!!
[15:04] {kazaam} at least we get a party with the end of the world, that counts for something
[15:05] {Threei} yes, but just two days ago we had three a day
[15:05] {Threei} and today just one
[15:06] {dino} vad, forever unsatisfied
[15:06] {dino} leap stop to b/e
[15:13] {Threei} big bounce FNM
[15:14] {dino} fre at 10, wow
[15:16] {Threei} we need a nice clearance sale
[15:16] {Threei} not one day capitulastion wannabe
[15:16] {Threei} good sizeable selloff taking out the opverhead
[15:16] {Threei} then we can have real rally
[15:26] {dino} unless it just wears everybody out
[15:27] {Threei} and they all stop playing at all?
[15:27] {dino} isn't that how bear markets end, when nobody cares/pays attention
[15:27] {Threei} one of versions, yes
[15:29] {magoo} oitswearing me out..spinning my wheels
[15:33] {Threei} it is tiresome
[15:33] {Threei} but think of it in dino's terms
[15:34] {dino} out leap .50, +.40
[15:34] {Threei} when you shrug and turn away... that's exactly the moment when things change
[15:35] {dino} i'm feeling that way
[15:35] {Threei} it's not a first time we go through churning periods, right?
[15:35] {Threei} they always were followed by big reward periods
[15:35] {dino} yes
[15:35] {Threei} and this churn served as great educational environment
[15:36] {dino} just disappointed in myself last few days
[15:36] {dino} my buy dips -6% sell rips +6% failed me
[15:36] {Threei} if you learned to keep your bacon safe during this chop chop
[15:36] {magoo} me too dino..down mon..up tues..down wed
[15:36] {Threei} normal market rewards you greatly when it finally comes
[15:37] {dino} at least the sun is shining, tee time in 50 minutes
[15:38] {dino} up today, but only 250
[15:38] {Threei} new dump FRE
[15:39] {Threei} peeplz are skeered
[15:39] {dino} brutalc at 52 week lows too
[15:39] {dino} make that multi year lows
[15:40] {Threei} yeah
[15:40] {Threei} wow
[15:41] {magoo} bullish level lowest since 1994
[15:41] {dino} here comes -200
[15:41] {dptl} ah..out fre +.59 ....short
[15:42] {Threei} gj
[15:42] {dino} gj dp
[15:42] {Chaeron} great dp
[15:42] {dptl} ty...still down a bit...really tought these days
[15:42] {Threei} with all this selloff we are still solidly above march lows
[15:43] {Threei} still got ways to go I guess
[15:44] {Threei} who knows, maybe PPT really is a myth? :)
[15:44] {dino} dji low monday 11120, ndx low1799
[15:45] {Threei} I mean, looking at FRE, FNM, LEH... hard to imagine more worthy cause to intervene
[15:45] {dino} it is a myth
[15:45] {dino} -226
[15:45] {Threei} ugh dino
[15:45] {Threei} so cold and cruel... I liked that warm and fuzzy feeling that there is an entity that would protect us...
[15:46] {Threei} from ourselves
[15:46] {dino} 261 point range day
[15:48] {Threei} new low FRE
[15:49] {dino} i had to tell magoo, if markets and trading don't improve, we are switching from miller lite to pabst blue ribbon
[15:50] {dino} wow fre 67 to 9 on a gse, who would've thought
[15:58] {dino} flow dump
[15:58] {Threei} dino... see the time? :)
[15:59] {Threei} FED'S HOENIG: THERE IS ROOM TO MOVE UP FROM CURRENT 2% INTEREST RATES WITHOUT BECOMING 'TIGHT'
[15:59] {Threei} ugh
[15:59] {Threei} shorted .50 FNM
[15:59] {Threei} then decided to close to eod and covered .43
[16:00] {Threei} OK guys
[16:00] {Threei} one more day of churn
[16:00] {magoo} sigh
[16:00] {dino} -242 lod
[16:00] {dptl} have a good evening all
[16:00] {magoo} whren goodday conmes vad...u gotta go like a m,adman
[16:00] {dino} lower low ndx
[16:01] {Threei} have a good evening, see you tomorrow
[16:01] {magoo} hw u like that typing?
[16:02] {dino} thx all, gotta hop
[16:02] {Threei} vat tipyng?
[16:03] {magoo} [16:00] {magoo} whren goodday conmes vad...u gotta go like a m,adman
[16:03] {magoo} gotta be one of my worste
[16:03] {Threei} if you say so... I am sure I've seen you hitting much lower lows :)
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