Sep 17 2008

Session Time: Wed Sep 17 00:00:00 2008

[08:18] {Threei} another funky morning
[08:18] {Threei} ING
[08:19] {Threei} worth a shot on a short side
[08:20] {brian3579} gm all
[08:20] {Threei} brian :)
[08:30] {Threei} *Q2 CURRENT ACCOUNT BALANCE: -$183.1 B V -$180.0BE
[08:30] {magoo} mornink comrades
[08:30] {Threei} AUG HOUSING STARTS: 895K V 950KE; BUILDING PERMITS: 854K V 928KE
[08:30] {Threei} - Prior Housing Starts revised from 965K to 954K
[08:30] {Threei} magoo :)
[08:30] {patience} good morning RT :)
[08:30] {Threei} patience :)
[08:31] {Threei} MS getting hit
[08:32] {magoo} ms hit 32 afterehours
[08:33] {magoo} u short ING and where?
[08:33] {Threei} .92
[08:33] {magoo} nice
[08:35] {Threei} NY INSURANCE CHIEF DINALLO: AIG BAILOUT REPRESENTS A "PARADIGM SHIFT" FOR THE US ECONOMY
[08:35] {Threei} as in switch to socialism?
[08:36] {Threei} great... where do I immigrate next
[08:37] {magoo} where u covering ing?
[08:37] {Threei} covered half .53
[08:44] {cosmo} 3i....i hear costa rica may go cashless...
[08:45] {Threei} as in?
[08:45] {cosmo} like old times...
[08:45] {Threei} natural exchange?
[08:45] {Threei} cow for iron?
[08:45] {cosmo} barter stone balls and such....yea
[08:46] {Threei} the way cxurrencies go these days... may be not a bad idea
[08:47] {cosmo} keep thinking .... we need a breakthru
[08:47] {Threei} me? thinking?
[08:47] {cosmo} just checking....:)
[08:47] {Threei} you are safe
[08:48] {Threei} we have enough deep thinkers on all govt/banking levels, I see no need to intrude
[08:48] {cosmo} agree
[08:49] {cosmo} i'm a heratic anyway...
[08:49] {Threei} you better check with Raven
[08:49] {peterg} morng
[08:49] {Raven} who?
[08:49] {cosmo} speling?
[08:49] {Threei} I am fairly sure there is misspeling in that
[08:49] {Threei} peter :)
[08:50] {Raven} morn cosmo :)
[08:50] {cosmo} moan...
[08:50] {Raven} that bad?
[08:51] {cosmo} heretic?
[08:51] {Raven} sure
[08:51] {cosmo} k
[08:52] {cosmo} .... maybe i should wear taser resistance clothing
[08:53] {Onix} good morning
[08:53] {Raven} just get some coffee
[08:53] {Threei} onix :)
[08:53] {cosmo} got it...
[08:53] {Raven} remain clam
[08:57] {cosmo} so far....so good...
[08:58] {Raven} I guess
[08:58] {cosmo} ASML
[08:58] {cosmo} not happy
[08:58] {cosmo} no news
[09:00] {Threei} GOLDMAN SACHS CUTS ASML TO SELL FROM NEUTRAL (TIMING UNCERTAIN)
[09:00] {Threei} - Note: Goldman cut ASML to Neutral about a month ago
[09:05] {dino} gm all, end again i see
[09:05] {Threei} dino :)
[09:06] {Threei} yeah, as it becomes customary
[09:06] {Threei} coffee... end of the world... newspaper...
[09:06] {Threei} morning routine
[09:07] {dino} like that movie w/bill murray, groundhog day
[09:07] {Threei} :)
[09:07] {fernp} Good morning all
[09:07] {Threei} fern :)
[09:08] {dino} china must be collasping, fxp from about 80-130 in sept.
[09:09] {pita} gm all - congrats Dino on yesterday, what a day to miss
[09:09] {Threei} pita :)
[09:09] {Threei} http://www.telegraph.co.uk/news/worldnews/europe/russia/2975934/Smugglers-built-vodka-pipeline.html
[09:09] {Threei} that's your CEDC dino...
[09:09] {dino} ty pita, got lucky
[09:09] {Threei} The accused built a 2-kilometre pipeline through a reservoir that marks the Russian-Estonian border, and managed to pump 6,200 litres of spirits across before getting caught.
[09:09] {dino} wow
[09:10] {dino} no wonder sales dropped, lol
[09:10] {Threei} my point :)
[09:15] {dptl} gtood morning all
[09:15] {Threei} dp :)
[09:28] {Threei} that's funny:
[09:28] {Threei} U.S. POWER SECTOR CUT TO NEUTRAL AT LEHMAN
[09:28] {Threei} US power sector to lehman: who are you?
[09:29] {Threei} do you even exist anymore?
[09:31] {Threei} Short Setup: ING .29 if stays below .40
[09:32] {judijim} good morning all
[09:32] {Threei} jj :)
[09:33] {esemde} morning....late to the party
[09:33] {Threei} ese :)
[09:34] {Onix} in ING .29
[09:34] {Threei} NY FED REITERATES THAT IT STANDS READY TO ADD ADDITIONAL RESERVES IF NECESSARY
[09:36] {esemde} SNDK
[09:38] {magoo} l aapl
[09:38] {esemde} thinking shor at 20.25
[09:38] {magoo} .75
[09:38] {Threei} SNDK got takeover bid ese
[09:39] {Threei} ING stopped
[09:39] {Onix} stopped ING
[09:39] {cosmo} ESLR @ 5
[09:39] {cosmo} fleas and all...
[09:40] {esemde} ya.....i know that...7 beans up.....should pull back a little i think
[09:40] {magoo} out aapl
[09:40] {esemde} then again maybe not
[09:40] {magoo} sory so fast
[09:40] {magoo} went in..i popped
[09:41] {Threei} Long Setup: JASO
[09:41] {Threei} ugh
[09:42] {Threei} see if pulls back a little
[09:42] {Threei} meant .32 - .33
[09:42] {dino} v sm l .00
[09:44] {Threei} SEC TAKES ACTION TO PROTECT AGAINST NAKED SHORT SELLING
[09:44] {cosmo} vice squad?
[09:44] {Threei} EFFECTIVE AS OF 12:01AM, SEPT 18 FOR THE ENTIRE US EQUITY MARKET
[09:45] {esemde} nude short sellers...hmmmmmmkinky
[09:46] {Threei} not sure why SEC is against that
[09:46] {patience} gold running up nicely :)
[09:47] {Threei} - Eliminates Reg SHO option market-maker exception
[09:47] {Threei} - Adopts short-sale anti-fraud rule
[09:47] {Threei} - Requires all short sallers to deliver stock on the settlement date
[09:50] {Threei} Long Setup: WB .81 if stays above .70
[09:50] {esemde} Ok forget my SNDK thoughts
[09:51] {dino} out v .05 +1.05
[09:52] {dino} that sucks, because i just heard that pam anderson wanted to learn naked shorting
[09:54] {Threei} somewhat listless market so far
[09:54] {magoo} WB invalide?
[09:54] {esemde} even better....we'll dress in the buff to trade here on Vad's board.....everyone has to to be stark naked in the morning
[09:55] {Threei} became more of a bounce play than break mags
[09:55] {magoo} ok..i went for coffee
[09:55] {Threei} just no webcameras please
[09:56] {magoo} vad, u reading GS?
[09:56] {magoo} as in 100 shares..it was fun remember
[09:57] {Threei} don't see anything on it so far
[09:57] {magoo} me neither..but im on it
[09:58] {dino} trading w/dji magoo
[09:59] {magoo} good to know dinomiester
[10:00] {dino} sm risky ntrs l .65
[10:00] {Threei} US TREASURY TO ISSUE DEBT TO EXTEND FED'S BALANCE SHEET WITH BILL AUCTIONS
[10:05] {Threei} CALM looks interesting... I wish it wasn't that thin
[10:05] {Threei} risk is horrifically high on it
[10:06] {magoo} market losing it here
[10:11] {dino} sm risky l cedc .50
[10:11] {esemde} long HERO .30 1/2
[10:11] {esemde} .20 stop
[10:12] {Threei} mags, you looked at CALM?
[10:12] {Threei} somewhat your type
[10:13] {Threei} thin, for small shares, big upside, big downside
[10:13] {Threei} breaking out on daily
[10:13] {Threei} loaded with shorts
[10:14] {magoo} looking now..where was it when u mentioned?
[10:15] {Threei} right here
[10:15] {Threei} upticked to .69
[10:15] {Threei} retreated back into .50
[10:16] {Threei} (RU) RUSSIAN EQUITY EXCHANGE WILL NOT REOPEN FOR TRADING TODAY
[10:16] {Threei} - Was expected to resume for the last hour of trading today
[10:20] {Threei} CALM ramp up
[10:20] {magoo} wow vad..point since u mentioned..but i no take
[10:20] {Threei} :(
[10:20] {magoo} yeah:(:(
[10:21] {Threei} and that was blue special for you
[10:21] {magoo} sorry...
[10:21] {Threei} catered and custom-tailored for your trading style
[10:21] {Threei} asorry... but sorry won't cut it
[10:21] {magoo} i thought u hated me and was trying to get me lol
06[10:21] * Threei slaps magoo around a bit with a large trout
[10:21] {Threei} oh, that too
[10:21] {esemde} HERO...stopped...ah well it was a good try
[10:21] {Threei} so it was win win for me
[10:23] {Threei} SHLD
[10:23] {Threei} SURGES TO SESSION HIGHS ON POSITIVE COMMENTS BY JIM CRAMER RELATED TO TODAY'S CHANGES IN SHORT SELLING RULES - CNBC
[10:23] {Threei} - Cramer calls today's announcement by the SEC a "game changer" for stocks that have exceedingly high short interest
[10:23] {Threei} so... what are the highest short interests out there
[10:26] {magoo} what is naked shorting again....broker cant let u short if they no have any stock
[10:26] {dino} yeah, he yells this and we drop 40
[10:26] {Threei} *(RU) CENTRAL BANK LOWERS RESERVE REQUIREMENTS
[10:26] {dino} mark to market is the issue, not short sellers, imo
[10:28] {dino} 3rd rule, securities fraud if shorts decieve brokers about delivering borrowed shares
[10:30] {esemde} NVDA one of the top short interest stocks
[10:30] {Threei} almost 2 bucks CALM
[10:32] {Threei} oil numbers are coming
[10:32] {Threei} in 3 min
[10:33] {Threei} NVDA 8.93% of float is short
[10:33] {Threei} CAEI... 6 break, very risky
[10:35] {Threei} DOE CRUDE: -6.3M V -4ME;
[10:35] {Threei} GASOLINE: +3.3M V -4ME; DISTILLATES: -835K V -2ME;
[10:37] {esemde} 47.1 million shs for NVDA
[10:37] {esemde} 2.7 days to cover
[10:38] {Chaeron} good morning all
[10:38] {Threei} chaeron :)
[10:39] {esemde} CCCCCHHHHHH......hows it goin
[10:39] {Chaeron} great thanks ese. Good to see everyone. Any damage we can do this morning
[10:40] {Threei} yes
[10:40] {Threei} hit magoo with trout
06[10:41] * Chaeron slaps magoo around a bit with a large trout
[10:41] {Threei} ty
[10:41] {Chaeron} ok... now what... I'm bored... Russian exchange closes and I'm twidling thumbs
[10:41] {esemde} you got positions there CH
[10:42] {Threei} I gave him 3.5 points winner and he ignored it, because he thought I hated him
[10:42] {Chaeron} no... teasing ese... sorry
[10:42] {Threei} do you see any logic in that?
[10:42] {Chaeron} Hate me, will ya?
[10:43] {esemde} Vads shares in the Vodka industry are all cloes down.....been hard on him
[10:43] {Threei} lol
[10:43] {Threei} those darn smugglers with their 2km-long pipelines
[10:46] {Threei} so, why is market going down if short sellers are being reigned in?
[10:46] {Threei} what an utter nonsense...
[10:46] {dino} cedc was stopped -.55 awhile ago, r.e. distractions
[10:47] {Threei} you can't fight smugglers dino
[10:48] {patience} gold is up 47 dollars vad....flight out of fiat currency and equities...i'm having a second big up day :)
[10:49] {Threei} so... gold is better investment than vodka (from the look of charts of GOLD vs CEDC)...
[10:49] {Threei} who knew
[10:52] {esemde} No THAT!!!! really depends on your point of view
[10:52] {esemde} Now That....
[10:53] {esemde} quality of life issue.......gold does nothing for me...Vodka on the other hand??
[10:56] {Threei} MS
[10:56] {Threei} I don't see news
[10:56] {Threei} sudden selling hit
[10:57] {Threei} Short Setup: LVS half lot .50 break
[10:57] {Threei} stop above .70
[10:59] {Threei} CEG
[10:59] {Threei} S&P PLACES RATINGS ON CREDIT WATCH
[11:00] {Threei} S&P SAYS PRESSURE IS BUILDING ON THE AAA US SOVEREIGN RATING
[11:01] {Threei} wow CEG
[11:01] {Threei} round 2
[11:04] {Threei} US ENERGY SECRETARY: DECISION WILL COME TODAY ON WHETHER TO REQUEST IEA OIL
[11:04] {Threei} {USO}
[11:07] {GeoArb} gm
[11:07] {Threei} geo :)
[11:13] {GeoArb} .
[11:13] {Threei} WHITE HOUSE: WE ARE CONCERNED ABOUT OTHER COMPANIES
[11:13] {Threei} WB sharp selling
[11:13] {Threei} nearing yesterday's low
[11:13] {Threei} should be a bounce scalp soon
[11:14] {magoo} backj
[11:14] {magoo} had a meeting in office
[11:14] {magoo} impromptu
[11:15] {magoo} oh and
06[11:15] * magoo slaps Chaeron around a bit with a large trout
[11:17] {GeoArb} MS 10 yr low
[11:17] {dino} v sm l .40 forgot order , ditractions
[11:17] {dino} distractions
[11:17] {dino} the banks must be liquidating their v holdings
[11:17] {magoo} l 100 sh gs 113.40
[11:20] {magoo} l rimm sm .7
[11:21] {Threei} MS has a look of second shoe drop coming
[11:23] {dino} v stop to b/e
[11:23] {magoo} man GS
[11:24] {magoo} end of world
[11:24] {dino} cme v sm , v risky, l 2.50
[11:26] {dino} v stopped flat
[11:26] {dino} lod
[11:27] {Threei} mama mia MS
[11:27] {Threei} SEC'S COX: THE BARCLAYS/LEHMAN DEAL IS WELCOME NEWS
[11:27] {Threei} {LEH}
[11:27] {Threei} uhhu
[11:27] {Threei} market welcomes it too
[11:28] {dino} must have the "enron" puts on it
[11:29] {Threei} sure, let's nail those darn short sellers
[11:29] {Threei} that'll show them
[11:29] {GeoArb} i am completely fixated on MS chart
[11:29] {Threei} mesmerizing isn't it
[11:30] {dino} gs going to par
[11:30] {Threei} little bounce time
[11:30] {dino} v sm l .25
[11:32] {Threei} if you qwent for MS bounce, get out here
[11:34] {dino} $2 spread on cme
[11:41] {Threei} WB looks bottom less
[11:44] {Threei} PIMCO'S EL ARIAN: STABILIZATION OF AIG DOES NOT STOP OTHER FIRMS FROM BEING WEAK
[11:44] {Threei} {XLF}
[11:44] {Threei} no?
[11:44] {Threei} wow
[11:44] {Threei} and we thought they were strong
[11:45] {Chaeron} go figure
[11:45] {Chaeron} where do they get these quotes?
[11:46] {dino} v wants green
[11:47] {dino} any takers on your own v and cme, still in but....greed
[11:51] {Threei} S&P AFFIRMS UNITED STATES AAA RATING
[11:52] {dino} out v .85 +.60, reverse slip on stopp
[11:52] {Threei} Short Setup: MS 19 break
[11:52] {Threei} sheesh
[11:52] {Threei} late
[11:54] {Threei} moves happen way too fast
[11:54] {Threei} I am staying away for now
[11:54] {Threei} in time it takes me to type alert stock sets up, reaches 1:1 and bounces back
[11:56] {Threei} FDIC'S BAIR: INTENDS TO PROPOSE A HIKE ON PREMIUMS IN EARLY OCTOBER
[11:58] {dino} out cme 7.72, +5.22
[11:59] {esemde} take care all...maybe see you tomorrow
[11:59] {Threei} take care ese
[11:59] {dino} u2es
[11:59] {esemde} see ya vad dino
[11:59] {dino} you guys are tough, c'mon
[11:59] {Threei} lol dino
[11:59] {dino} 222.50-227.72
[12:00] {Chaeron} dang dino... you're buying lunch for all... and paying my mortgage
[12:00] {Threei} IMF'S STRAUSS KAHN: US FINANCIAL SECTOR CRISIS PRESENTS RISKS TO GROWTH
[12:00] {Threei} {XLF}
[12:00] {Threei} no, really?
[12:00] {Threei} he means growth may slow a little?
[12:00] {Threei} MS
[12:00] {Threei} HEARING VAGUE TAKEOVER CHATTER CIRCULATING
[12:00] {Threei} lol
[12:01] {Threei} - HSBC rumored as a potential acquirer
[12:03] {pita} Have fun all - day job.......
[12:03] {Threei} take care pita
[12:04] {dino} cya pita
[12:04] {dino} watching cme, trv, ge
[12:04] {dino} fdx
[12:04] {dino} v too
[12:05] {Threei} MS -11
[12:05] {Threei} jeez
[12:06] {Threei} providing we live long enough... this will be the stuff to tell out grandkids
[12:06] {dino} a bit odd, indeed
[12:07] {Chaeron} House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “No.”
[12:07] {Threei} "grandaddy, is it true that before our firepits to cok food on people had strange things called stoves, ovens, toasters... and it was all not in caves but in even stranger things called houses/"
[12:07] {Threei} "Yeah... then banks failed"
[12:08] {dino} wbmd
[12:08] {dino} too fast
[12:10] {Threei} here is the thought guys
[12:10] {magoo} OYYYYYYYYY
[12:10] {Threei} this stuff is getting really scary
[12:11] {Threei} feels like there is no hope for survival
[12:11] {Threei} what does it mean to you?
[12:11] {magoo} RALLY
[12:11] {Threei} maybe not yet,
[12:11] {Threei} probably one more major bank failure is needed for a final washout
[12:12] {Threei} but we are much closer to ultimate panic and bottom than we were just yesterday
[12:12] {Threei} fear is palpable
06[12:12] * Chaeron dusting off DOW 10K party hat
[12:12] {Threei} even week or two ago there was a lot of denial in the air
[12:13] {Threei} not anymore
[12:13] {Threei} pure fear
[12:13] {Threei} don't take it as a buy now
[12:13] {Threei} as I said... panic is still ahead
[12:14] {Threei} and not all of today's players will live to see the bottom
[12:14] {Threei} some will become plankton
[12:14] {dino} july '06 lows dji
[12:14] {dino} jan. 06 too
[12:15] {Threei} CEG
[12:15] {Threei} jeez
[12:16] {dino} -6.6% 3 days
[12:16] {peterg} tried my hand at ceg hr ago; became plankton
[12:16] {Threei} too volatile
[12:16] {peterg} i'll say
[12:16] {peterg} want to turn son's video game into purchase machine
[12:16] {peterg} super hi speed buttons
[12:16] {peterg} for laser
[12:17] {peterg} then ceg and victory--hundreds of nickel trades in the black
[12:18] {peterg} dimes and quarters too
[12:19] {Threei} MS
[12:19] {Threei} CNBC GASPARINO: REITERATES THAT HIS SOURCES SAY NO TALKS PRESENTLY BUT THE FIRM MAY MOVE QUICKLY TO AVOID A SITUATION LIKE LEHMAN
[12:19] {Threei} {XLF}
[12:19] {Threei} this guy again
[12:20] {peterg} what is ms?
[12:20] {Threei} morgan stanley?
[12:20] {peterg} thks
[12:21] {magoo} AAPL leadsing the way up
[12:22] {Threei} CEG doesn't acknopwledge AAPL as a leader {G}
[12:22] {magoo} rimm did
[12:23] {dino} fdx sm l .95
[12:25] {dino} funny how cnbc never talk badly about ge, its only -50% this year
[12:26] {dino} they need jesse livermoore to says "i'm not shorting"
[12:26] {magoo} funny how cramer isn't acknowledging his july bottom call
[12:29] {magoo} GS smashed its 52 wk low of 116
[12:30] {magoo} down 61 points in 4 days
[12:30] {magoo} if u had 1k shares u'd be down like 6000 bux
[12:30] {Chaeron} add a zero?
[12:31] {Threei} I have a link to video somewhere where he says a year ago, nothing to fear in financials
[12:31] {magoo} he he..seeing if u guys are awake
[12:31] {magoo} who?cramer?
[12:31] {Threei} yup
[12:31] {Chaeron} send it to Neil Cavuto
[12:31] {magoo} WOW
[12:32] {magoo} dino and i discuss him alot...don't feel hes that great of trader
[12:33] {hawkfan4} here's cramer saying don't take your money out of bear stearns at 63 bucks in March: http://www.youtube.com/watch?v=o3FVBKic5Ek
[12:33] {Threei} and here is that one:
[12:33] {Threei} http://www.youtube.com/watch?v=BVl9SQ-KVmE
[12:34] {magoo} REv Shark has been brilliant
[12:34] {magoo} and hes always butting heads with cramer
[12:35] {magoo} sometimes i think cramers gonna kick him off site
[12:35] {Threei} US SENATOR DODD: CONGRESS HAS NO TIME TO CREATE A POOL FOR BAD ASSETS
[12:36] {dino} v sm l .10
[12:37] {dino} "no time" lol, campaigning takes too much of it
[12:37] {Threei} yeah
[12:37] {magoo} vad, which is it on utube?
[12:37] {Threei} I'd save the world but I am so busy right now
[12:37] {magoo} [12:37] {magoo} vad, which is it on utube?
[12:38] {Threei} [12:31] {Threei} I have a link to video somewhere where he says a year ago, nothing to fear in financials
[12:38] {dino} an attorney buddy of mine says; "when lawyers can't make it as lawyers, they go into politics"
[12:38] {magoo} so he announced his campaign yet dino?
[12:38] {Chaeron} he's govenor by now I bet
[12:39] {dino} lol
[12:39] {dino} bankruptcy trustee/lawyer, cleaning up
[12:41] {magoo} vad, why is russian mkt crashing?
[12:42] {Threei} it'sa not
[12:42] {Threei} it's halted
[12:42] {Threei} this way it can't crash
[12:42] {Chaeron} I think that airliners should get "halted" in an emergency :)
[12:43] {patience} vad, i think you should get out your dow 10,000 party hat from the closet, we'll be needing it by the end of next monday....my theory anyway :)
[12:43] {Threei} next Monday?
[12:43] {Threei} the way it goes, maybe much faster :)
[12:43] {patience} options expiry friday, weekend to panic, sell sell sell monday
[12:43] {dino} i feel a big rally
[12:44] {magoo} laserdave told me weeks ago"if dow loses 11k magoo, watch out...crash"
[12:44] {dino} patience 400 pt range today
[12:44] {patience} getting bigger dino
[12:44] {Threei} watching CALM
[12:44] {Threei} retreated nicely
[12:44] {magoo} staying CALM here l;ol
[12:45] {Threei} feels like a good candidate for bounce back with market ramping up
[12:45] {dino} yes, i'm noticing
[12:45] {dino} ot: meatloaf is way underrated
[12:45] {Threei} lol
[12:46] {Threei} took some CALM
[12:46] {Threei} scary as hell
[12:47] {_petike} CALM for short?
[12:47] {Threei} no
[12:47] {_petike} OR long?
[12:47] {Threei} long
[12:47] {_petike} thx
[12:47] {Threei} very risky stock
[12:47] {Threei} be careful with it, thin
[12:47] {_petike} Im just watching
[12:47] {_petike} good luck
[12:52] {magoo} where u in?
[12:52] {Threei} .55
[12:53] {Threei} stop under .30
[12:53] {magoo} he he..getting feeling of dejavue here
[12:53] {Threei} put that bottle down
[12:53] {magoo} no way hose'
[12:58] {_petike} CALM seems like going up
[12:58] {_petike} nice trade
[12:59] {Threei} not yet...
[12:59] {Threei} this is potentially big mover, no point to scalp it for a few cents
[12:59] {dino} v stopped -.65
[12:59] {_petike} ok
[13:04] {Threei} IMF REPORTEDLY INCREASES US 2008 GDP FORECAST TO 1.7% V 1.3% IN JULY - UNCONFIRMED REPORT
[13:05] {Threei} I want what they smoke
[13:05] {Threei} GE
[13:05] {Threei} SPOKESPERSON: AAA RATING SECURE, HAS NO MATERIAL EXPOSURE TO LEH, AIG EXPOSURE RESOLVED DUE TO US GOVT RESCUE
[13:08] {dino} v rinsed
[13:09] {Threei} hmmm... spam e-mails with offers to refinance, get cheap mortgage etc are still coming
[13:09] {Threei} they just forgot to turn them off or what
[13:10] {magoo} where the hells davielaser
[13:11] {Chaeron} out drinking....
[13:11] {Threei} SRE
[13:11] {Threei} smaaal shares short 50 break
[13:11] {Chaeron} too late
[13:11] {dino} suppose he's busy today
[13:12] {Threei} second chance
[13:12] {Threei} stop above .20
[13:13] {Threei} over 1;1
[13:13] {Threei} 49 should be relatively easy
[13:14] {Threei} half out .50
[13:14] {Threei} +.48
[13:14] {Threei} bidding 49.05 for the balance
06[13:14] * Threei slaps Chaeron around a bit with a large trout
06[13:14] * Threei slaps magoo around a bit with a large trout
06[13:14] * magoo slaps Chaeron around a bit with a large trout
06[13:14] * magoo slaps Threei around a bit with a large trout
[13:14] {Chaeron} I deserved that
[13:15] {magoo} pointer vad
[13:15] {Threei} almost
[13:16] {magoo} mkts losing it again here
[13:16] {Threei} stop to .60
[13:16] {Threei} direct hit
[13:17] {Threei} out +.95
[13:17] {Chaeron} perfect
[13:17] {Threei} lol, even that was too soon
[13:23] {dino} nice
[13:26] {Threei} CALM no worky
06[13:29] * laserdave1 slaps Threei around a bit with a large trout
06[13:29] * laserdave1 slaps Threei around a bit with a large trout
06[13:29] * laserdave1 slaps Threei around a bit with a large trout
[13:30] {Threei} great
06[13:30] * Chaeron slaps laserdave1 around a bit with a large trout
[13:30] {laserdave1} marketssssssssssssssssssssssssssss
[13:30] {magoo} [13:10] {magoo} where the hells davielaser
06[13:30] * laserdave1 slaps Chaeron around a bit with a large trout
06[13:30] * Chaeron slaps laserdave1 around a bit with a large trout
[13:30] {laserdave1} laserdave1 kicks magoo in but with steel toed army boots
06[13:31] * magoo slaps laserdave1 around a bit with a large trout
06[13:31] * magoo slaps laserdave1 around a bit with a large trout
06[13:31] * magoo slaps laserdave1 around a bit with a large trout
[13:32] {Threei} short half lot MS
[13:32] {Threei} stop above .40
[13:32] {Threei} nah
[13:32] {laserdave1} specialist has bought so many shares GS at 100EVEN
[13:32] {laserdave1} it is sick
[13:32] {laserdave1} if they get him watch out for big candle down
[13:32] {magoo} triple witching in play
[13:33] {laserdave1} gold and silver really geting out of hand now
[13:33] {laserdave1} biggest move on gold i have ever seen
[13:35] {Threei} ugh... hesitated too long
[13:37] {Threei} shoot me now
[13:37] {dino} bang
[13:37] {Threei} ty
[13:37] {Threei} I deserved itr
[13:39] {dino} out fdx +.05
[13:39] {Threei} short MS on this bounce
[13:39] {Threei} wider stop, above .50
[13:41] {Threei} half out
[13:41] {Threei} .05
[13:41] {Threei} +.20
[13:41] {Threei} stop .35
[13:42] {dino} v sm risky, l cme 9.50
[13:43] {Threei} out in full
[13:43] {Threei} .85
[13:43] {Threei} +.40 I think
[13:43] {Threei} another bounce to short
[13:43] {Threei} keep it to half lot
[13:44] {Threei} in
[13:44] {Threei} stop .35
[13:44] {magoo} where?
[13:44] {Threei} .19
[13:45] {Threei} out
[13:45] {Threei} .95
[13:46] {Threei} have to play it one leg at a time, bounces are vicious
[13:46] {dino} v sm l .20
[13:54] {Chaeron} gld
[13:57] {peterg} what happens after winningest day?
[13:57] {peterg} losingest!
[13:57] {peterg} hahahahhahahahahhahahahah sniff
[13:58] {Threei} don't push it peter
[13:58] {peterg} not so bad really, but a useful lesson
[13:58] {peterg} right vad
[13:58] {Threei} this is market with little precedent
[13:58] {Threei} and overconfidence is not the best advisor
[13:58] {peterg} exactly
[13:58] {peterg} must learn balance
[13:59] {peterg} or weightlessness
[13:59] {Threei} elation after a few very good days tends to create that
[13:59] {peterg} right
[13:59] {Chaeron} anyone take gld?
[13:59] {peterg} i can trade anything!!
[13:59] {peterg} back in hr
[14:01] {dino} shake it off pete
[14:02] {dino} out v .75 +.55
[14:05] {magoo} l aapl .50
[14:05] {magoo} small
[14:06] {dino} wow cedc
[14:07] {magoo} aapl stopped
[14:08] {magoo} nasty
[14:09] {magoo} a second early
[14:10] {Threei} look at UBS
[14:11] {Threei} the final selloff is closer and closer... but heck, when it comes, you better get a lot of grovel
[14:11] {Threei} or how that sea-sickness drug is called
[14:11] {dptl} :) gravol......... finishing early.....have a good evening all :)
[14:11] {Chaeron} bye dp!
[14:12] {Threei} right
[14:12] {Threei} take care dp
[14:15] {dino} cya dp
[14:15] {magoo} AAPL cart crash
[14:15] {magoo} sh rimm .50
[14:18] {magoo} out no like
[14:20] {dino} xnpt
[14:23] {Threei} US SENATOR DODD: "OTHER SHOES MAY FALL" IN THE CRISIS, INCLUDING REGIONAL BANKS
[14:29] {dino} sm l ace .00
[14:30] {magoo} up with volume vad
[14:31] {dino} xnpt more blood
[14:33] {Threei} maybe a little relief rally mags...
[14:34] {Threei} there is just too much fear in the air for a serious bounce to develop, IMO
[14:35] {dino} [13:42] {dino} v sm risky, l cme 9.50
[14:41] {Threei} MS
[14:41] {Threei} CNBC'S GASPARINO: CEO MACK CLAIMS THAT SHORT SELLERS ARE DRIVING DOWN THE FIRM'S STOCK, MACK SAYS FIRM IS FUNDAMENTALLY STRONG
[14:42] {dino} i believe it waw the mortgage problem
[14:42] {Chaeron} those dang short sellers... same ones that were called "speculators" that drove oil up? :) I wanna be one of THEM :)
[14:43] {Chaeron} right dino
[14:43] {dino} ty
[14:43] {magoo} just wait..pelosi will get on band wagon and over regulate short selling
[14:43] {dino} out cme 329.50
[14:44] {dino} +10.00
[14:44] {Threei} eeck
[14:44] {Threei} dino
[14:44] {dino} :)
[14:44] {Threei} with all due respect:
06[14:44] * Threei slaps dino around a bit with a large trout
[14:44] {Onix} go DINO!
[14:44] {Chaeron} 10pt + trades deserve a trout
[14:45] {Threei} no kidding
[14:45] {dino} better lucky than good
[14:45] {Threei} from now on, special trout is reserved for 10 pt trades
[14:45] {Chaeron} I'm expecting Dodd to comment on that on the floor of the Senate soon
[14:45] {Chaeron} maybe comment on the mandatory trout as well... who knows at this point?
[14:45] {dino} DodoDodd
[14:46] {Chaeron} lol
[14:47] {Threei} I would expect them to ban +10 trades
[14:47] {Threei} in order to prtect us
[14:47] {Onix} yealousy makes you nasty
[14:48] {magoo} f'in cramer crusading against short sellers 24/7
[14:48] {dino} tough crowd
[14:48] {magoo} piusses me off..he made his fortune short
[14:48] {Threei} I thought it was inside information
[14:48] {Chaeron} he qualifies to be a polititian - either way...
[14:49] {magoo} he wants rules changed now AFTER he abused them to make fortune
[14:49] {Chaeron} of course... and be held as a hero for cleaning things up
[14:49] {Chaeron} pure polititian :)
[14:50] {Threei} GE CEO: PEOPLE SHOULD BE CONCERNED, NOT PANICKED, BY FINANCIAL CRISIS
[14:50] {Chaeron} there's a very fine line there......................
[14:50] {Threei} give people such salary and bounses as you get, dear CEO...
[14:50] {Threei} and yes, they may be just slightly concerned
[14:51] {dino} yeah, and in his book he admits he broke the margin req. law, but made millions doing it, meanwhile us little guys get automatically sold out
[14:52] {Chaeron} hypocracy pisses me off
[14:52] {magoo} i hate cramer
[14:52] {Threei} take a number
[14:52] {magoo} i wish io could get phone in and tell him off
[14:53] {Threei} wow, MS pullback
[14:58] {Threei} GS another fast drop
[14:58] {Threei} watching MS for following
[14:59] {Threei} didn't follow really
[15:02] {dino} markets confused'
[15:02] {Threei} badly
[15:04] {dino} me too
[15:04] {magoo} im confused
[15:04] {magoo} but having a great day
[15:04] {magoo} and best week
[15:05] {Threei} good thing you are confused then
06[15:05] * dino slaps magoo around a bit with a large trout
[15:05] {magoo} drunk too
[15:05] {Threei} good idea dino
06[15:05] * Threei slaps magoo around a bit with a large trout
[15:05] {patience} you found a supplier of cheap vodka magoo?
[15:06] {Chaeron} I did... free
[15:06] {magoo} called vads wife secretly...she was more than glad to ship his to me
[15:07] {dino} looking at cedc seems it must be free
[15:07] {Chaeron} (noone ever believes me...)
[15:08] {dino} oh, and you canadians, will appreciate this, i brewed up a batch of canadian ale last night
[15:08] {patience} too funny dino
[15:08] {patience} higher alcohol content?
[15:08] {dino} seriously, mr.beer kit
[15:08] {dino} 5%
[15:09] {patience} then you wouldn't mind taking those 20 dozen green plastic beer bottles i have in the garage
[15:09] {dino} lol, i used red stripe bottles, painted lables
[15:11] {Threei} where does GS/MS happiness come from
[15:11] {magoo} AAPL
[15:11] {dino} there is none
[15:18] {dino} out ace .40, +.40
[15:18] {Threei} for videogame fans
[15:18] {Threei} MS folows GS with few milliseconds delay
[15:19] {Threei} if you are very very fast
[15:19] {Threei} scalping opportunities abound
[15:19] {dino} magoo is an idiot, i had to throw my shoe at him
[15:20] {Threei} lol, wbhat did he do
[15:20] {dino} all seriously, he says.."is this a hard market?"
[15:21] {dino} cedc sm l .75
[15:22] {peterg} packing it in, see you tomorrow
[15:22] {magoo} i was staring at screen and shoe smashes in..skeered heck out of me..seriously
[15:22] {Threei} take care peter
[15:22] {magoo} jumped out of seat..roller seat smacks wall
[15:22] {Threei} lol
[15:22] {Threei} \you guys
[15:23] {dino} cya peter
[15:23] {dino} i said, ask any mutual fund holder how they are doing
[15:24] {Threei} and makes sure you ask from very far
[15:25] {Threei} NY POST REPORTS WAMU IS CLOSE TO HIRING GOLDMAN SACHS TO EXPLORE STRATEGIC ALTERNATIVES, INCLUDING SALE
[15:25] {Threei} -Reminder overnight the NY Post reported that Federal Regulators were actively shopping Wamu (see our research note){GS}
[15:25] {Threei} US HOUSE OF REPRESENTATIVES HAS REPORTEDLY SCHEDULED A MEETING ON THE OIL SPECULATION BILL TOMMOROW
[15:25] {Threei} {USO}
[15:25] {Threei} that'll show damn sepculators
[15:25] {dino} cedc stop to .95
[15:26] {dino} out .major slip, .75, +1.00
[15:26] {Chaeron} I think that dino is going to be retiring soon
[15:27] {Threei} on what, +1 trades?
[15:27] {Threei} he does just one +10 a day
[15:27] {Threei} not enough for retirement
[15:27] {Chaeron} yeah... what am I thinking... whadda putz
[15:28] {dino} i trade small size guys, going to take a couple more years
[15:32] {judijim} take care everyone, be back tomorrow
[15:32] {Threei} take care jj
[15:33] {dino} later jj
[15:34] {dino} trv sm l .20
[15:37] {dino} stop trv .85 -.35
06[15:37] * Chaeron slaps laserdave1 around a bit with a large trout
06[15:38] * Chaeron slaps laserdave1 around a bit with a large trout
06[15:38] * magoo slaps laserdave1 around a bit with a large trout
06[15:38] * Chaeron slaps laserdave1 around a bit with a large trout
[15:38] {Chaeron} Dcc dave
[15:38] {Chaeron} ?
[15:38] {Chaeron} thanks mags
[15:38] {Chaeron} WM not happy... going to break or bounce?
[15:40] {Threei} leave it alone...
[15:40] {Chaeron} not touching it... just looking for entertainment
[15:40] {Threei} watch GS/MSA for that :)
[15:41] {Chaeron} doing that too... have ADD
[15:41] {patience} its very oversold on daily, weekly, monthly charts, but vad is right, not touching it, looks like down
[15:41] {magoo} i need a brew
[15:43] {Threei} any minute it could be rescued by fed or govt
[15:44] {Threei} and we all know ehat happens to those who get rescued, right?
[15:46] {Chaeron} (crickets chirping)
[15:46] {Chaeron} all too afraid to answer
[15:46] {Threei} GS spike
[15:51] {magoo} just opened a beer
[15:52] {magoo} ty vad
[15:52] {Threei} ?
[15:53] {magoo} just telling u before u leave
[15:53] {magoo} thanx
[15:53] {Threei} ah
06[15:53] * magoo slaps patience around a bit with a large trout
06[15:53] * magoo slaps laserdave1 around a bit with a large trout
06[15:53] * magoo slaps jmb around a bit with a large trout
06[15:53] * magoo slaps dptl around a bit with a large trout
06[15:53] * magoo slaps dino around a bit with a large trout
06[15:53] * magoo slaps Chaeron around a bit with a large trout
06[15:53] * magoo slaps brian3579 around a bit with a large trout
06[15:53] * Chaeron slaps magoo around a bit with a large trout
06[15:53] * magoo slaps Raven around a bit with a large trout
06[15:53] * magoo slaps Threei around a bit with a large trout
[15:54] {magoo} u edit those ?
[15:54] {Threei} no
[15:54] {magoo} no kidding..public sees that?
[15:54] {Threei} yup
[15:54] {magoo} crap
[15:55] {Threei} OK guys, thank you, have a good evening
[15:55] {Threei} see you tomorrow
[15:55] {Chaeron} thanks Vad

Sep 16 2008

Session Time: Tue Sep 16 00:00:00 2008
[08:09] {Threei} IMF CHIEF STRAUSS KHAN: CREDIT CRISIS UNPRECEDENTED, GLOBAL ECONOMY WILL SLOW BETWEEN 0.5-2.0% OF GROWTH
[08:09] {Threei} - Notes the fact that a certain number of banks in the U.S. are restructuring shouldn't lead to panic
[08:09] {Threei} - Says some parts of the world are more or less affected, but the slowdown is general
[08:09] {Threei} - Adds some positive developments, including the oil price which has dropped below $100 a barrel and said the IMF would predict an economic upturn in 2009 in its next forecast in October.
[08:09] {Threei} so... he is predicting what they will predict
[08:09] {Threei} Nostradamus on steroids, I see
[08:12] {Threei} GS earnings before open
[08:13] {Threei} AIG
[08:13] {Threei} NEW YORK GOV PATTERSON: AIG HAS ONE DAY TO RESOLVE ITS PROBLEMS
[08:14] {Threei} and then?
[08:14] {Threei} at the rate it's dropping, even one day seems eternity
[08:15] {Threei} GS
[08:15] {Threei} REPORTS Q2 $ V $1.71E, R $6.04B V $6.23BE
[08:15] {Threei} Q2 $1.81 V $1.71E
[08:17] {Threei} short a little BAC
[08:17] {Threei} GS dropping has a chance to take it down too
[08:18] {Threei} oil 91
[08:25] {Threei} AIG
[08:25] {Threei} PRICE TARGET LOWERED TO $3 FROM $6 AT CREDIT SUISSE; MAINTAINS NEUTRAL RATING
[08:25] {Threei} brilliant
[08:25] {Threei} target is reached
[08:27] {magoo} jhfhfhehgdhhdgmdhg
[08:27] {Threei} lkdohutmsndjeoitrm
[08:27] {Threei} sever dump GS
[08:27] {Threei} die BAC
[08:28] {Threei} with two heavy weights on your ankles, what business do you have floating on the surface
[08:29] {magoo} where u in sh?
[08:29] {Threei} .40
[08:29] {magoo} any bounce mnay be nice GS short
[08:30] {Threei} AUG CONSUMER PRICE INDEX M/M: -0.1% V -0.1%E;
[08:30] {Threei} Y/Y: 5.4% V 5.5%E;
[08:31] {Threei} CPI EX FOOD -ENERGY M/M: 0.2% V 0.2%E; CPI NSA: 219.086 V 219.300E
[08:33] {Threei} not sure why BAC is somewhat immune to selloff so far
[08:33] {Threei} maybe it's seen as one who survives no matter what
[08:33] {Threei} or maybe shorting finnies became too obvious
[08:34] {Threei} and it's time to flush out overconfident shorts
[08:34] {Threei} and as if there was not enough excitement yet, we have FOMC rate decision today
[08:34] {Threei} which was no brainer till yesterday
[08:34] {Threei} but now there is a streetwide speculation of cut
[08:35] {magoo} and perception of cut more difficult this time
[08:35] {magoo} cut symbolizes everything very bad
[08:36] {magoo} no cut could be perceived as things are stabilizing
[08:36] {magoo} or as fed is clueless
[08:36] {Threei} I can't imagine another cut
[08:38] {Threei} JASO
[08:38] {Threei} PROVIDES STATEMENT ON LEHMAN BROTHERS RELATIONSHIP
[08:38] {Threei} uh oh
[08:39] {Threei} NEW YORK FED: TALKS ON AIG WILL CONTINUE TODAY
[08:40] {Threei} JASO same kind of deal with LEH as ESLR had, it seems
[08:40] {Threei} look where it got ESLR
[08:41] {Threei} PIMCO'S EL ARIAN: FED RATE CUT IS NEEDED IF TODAY'S LIQUIDITY OPERATIONS FAIL TO LIQUIFY MARKETS
[08:41] {Threei} panicking idiot
[08:42] {Threei} last thing we need is dcision on rates based on ONE DAY's operation
[08:42] {Threei} ok BAC
[08:43] {Threei} that's better
[08:46] {Onix} good morning
[08:46] {dino} gm all
[08:46] {Threei} RUSSIA MICEX EXCHANGE SUSPEND TRADING
[08:46] {Threei} was down like 15%
[08:46] {Threei} onix, dino :)
[08:49] {dino} onix?
[08:54] {Threei} GS crash in works
[08:55] {Threei} wow
[08:55] {peterg} morning!
[08:55] {Threei} big bid hit on BAC
[08:55] {Threei} peter :)
[08:57] {fernp} Good morning everybody
[08:57] {Threei} fern :)
[08:58] {Threei} BAC needs to lose .80 to launch next leg down
[08:59] {Threei} BARCLAYS CLOSING IN ON A DEAL TO BUY LEHMAN'S US ASSETS FOR ABOUT $2B - WSJ CITING SOURCES
[09:00] {Threei} going to cover half BAC if it breaks .90
[09:00] {Threei} GERN
[09:00] {Threei} ANNOUNCES ISSUANCE OF U.S. PATENT FOR CARDIOMYOCYTES FROM HUMAN EMBRYONIC STEM CELLS
[09:01] {Threei} good boy BAC
[09:01] {Threei} magoo, fess up
[09:01] {Threei} shorted it?
[09:02] {magoo} actually hit gs vad
[09:03] {Threei} price?
[09:04] {magoo} out already
[09:04] {Threei} okay
[09:04] {Threei} C on its merry way to 14
[09:04] {Threei} which is its Bear Sterns low
[09:05] {Threei} game plan for BAC is to cover some on the next drop,
[09:06] {Threei} and whatever happens, keep a little for big score
[09:07] {Threei} I mean... what's my risk? with stop above today's high and playing with house money, why not try and keep small shares for multipoint drop
[09:08] {Threei} GS
[09:08] {Threei} CFO :ACCESS TO LIQUIDITY REMAINS STRONG
[09:08] {Threei} ok... GS started this "everything's fine" line of announcements
[09:08] {Threei} eerily familiar
[09:09] {Threei} covered half BAC +1
[09:09] {peterg} aig drifting drifting down
[09:09] {magoo} nice one vad
[09:09] {Threei} if AIG fails, this has all makings of Armageddon
[09:10] {peterg} suggested dominos?
[09:10] {Threei} all of them
[09:10] {Threei} whoever is still standing
[09:11] {Threei} C, CIT, BAC, MS, GS, WM
[09:11] {Threei} whatelse is out there
[09:11] {peterg} thks
[09:12] {peterg} for summary
[09:12] {Threei} be back in 5
[09:13] {magoo} your buddy farley post in columnist conversation ;
[09:13] {magoo} obvious we're getting afternoon rate cut, maybe as high as .50%"
[09:17] {Threei} certainly expectations of it are ramped up
[09:18] {Threei} and oil drop gives Fed some room to do that
[09:18] {Threei} IMO, it would be stupid
[09:18] {Threei} but who would put stupidity beneath them
[09:18] {magoo} well, hes a smart guy..also states"my gut says it does matter and we'll finish the day much higher, as long as the rate cut is a decent size"
[09:19] {Threei} quite possible
[09:19] {esemde} good morning.....withh you for a few minutes then have to go...how was everyone yesterday
[09:19] {magoo} just for info here..no one knows
[09:19] {magoo} but keeping open mind
[09:19] {Threei} hi ese
[09:19] {Threei} yesterday was good
[09:19] {esemde} must have been afeild day for dino
[09:20] {Threei} every day is a field day for dino
[09:20] {esemde} true indeed!!!!
[09:22] {Threei} 25 lost on BAC
[09:22] {dino} no es, up nice early, gave it back later, lots of distractions at office, pretty much pissed me off
[09:23] {dino} accountants, attorneys, mother, etc.....
[09:23] {dino} in any case, a new day
[09:24] {dino} as for rate cuts 3i, i think you are missing one main point, w/a cut the banks instantly increase the spread on what they take in vs. what they pay out. it has to happen, imo
[09:24] {dino} salvation thru inflation again my friend. re-liquify it all
[09:25] {dino} deflatrion has always been the fear
[09:25] {Threei} IMO... it does nothing but lays foundation for more of the same down the road
[09:25] {Threei} I understand the reasoning dino
[09:25] {Threei} I just disagree with it
[09:25] {dino} but there is no other answer
[09:25] {peterg} yeah, but down the road is not now
[09:26] {peterg} later is better; lets party
[09:26] {peterg} now
[09:26] {dino} correct peter
[09:26] {Threei} mess we are in is caused by exactly this: today's solution with no regard for tomorrow's consequences
[09:26] {peterg} yes
[09:26] {peterg} party on
[09:26] {peterg} till world spins off its axis and rolls out to pluto
[09:27] {esemde} question is will a rate happen before market opens.....
[09:27] {Threei} 2:15 FOMC decision, ese
[09:27] {esemde} there was that speculation going on to restore confidence
[09:27] {judijim} good morning all
[09:27] {Threei} jj :)
[09:27] {esemde} the street gurus were saying it should come before the open
[09:28] {esemde} jj
[09:28] {Threei} pewter, add WB and ABK to the list
[09:28] {peterg} you mean silver dont you
[09:28] {Threei} lol
[09:29] {Threei} AIG under 2... mama mia
[09:30] {Threei} going to cover 1/4 more BAC on break over 25.40 if happens
[09:30] {Threei} otherwise on some dump
[09:31] {Threei} Short Setup: WB 9 breakdown
[09:33] {Threei} stop/invalidating level above .20
[09:33] {Threei} out 1/4 more BAC
[09:33] {Threei} +2
[09:33] {GeoArb} gm
[09:33] {Threei} Geo :)
[09:35] {dino} sm l ilmn .10
[09:36] {Threei} Short Setup: C 14.20 breakdown
[09:36] {patience} tsx down -303, seems like a normal day now
[09:37] {Threei} stop/inv level above .40 C
[09:38] {magoo} u doing half lots again today?
[09:38] {Threei} full on C, liquidity is big on it
[09:38] {dino} gj guys
[09:39] {Threei} LEH
[09:39] {Threei} BARCLAYS REPORTEDLY AGREES TO BUY ASSETS
[09:40] {Threei} tightening stop on C to .31
[09:40] {Threei} too tense here, gotta stays safe
[09:40] {dino} v l .83
[09:40] {Threei} out
[09:41] {peterg} fantasy is, Barclays rescues world
[09:42] {Threei} this spike is exactly what I want to avoid being caught in by tightening stop
[09:43] {esemde} ya ...it's not like couldn't have done that on the weekend
[09:43] {esemde} they wanted to drive the price of the assets down then jump in
[09:43] {Threei} watching UAUA for bounce
[09:46] {Threei} jeez AIG
[09:46] {Threei} what a bounce
[09:46] {dino} cyber order change issues
[09:47] {dino} ilmn stop to .15
[09:49] {dino} to .15 again
[09:49] {dino} out ilmn 80.15, +2.05
[09:51] {Threei} FORMER CEO GREENBERG: IF AIG CANNOT GET A BRIDGE LOAN FROM EITHER THE FEDERAL GOVERNMENT OR PRIVATE SOURCES, THE FIRM MAY GO BANKRUPT
[09:51] {dino} way to reassure the markets
[09:52] {Threei} he is trying to scare them into giving loan
[09:52] {dino} ahhh, good point
[09:52] {Threei} AIG bankruptsy is, ummm
[09:52] {GeoArb} my esignal refuses to get data for me
[09:52] {GeoArb} good thing its expiring on 25th
[09:52] {Threei} as close to end of the world as it gets
[09:52] {esemde} man...feel sory for you dino....ya got to work with a bunch of idiots down there.....
[09:52] {esemde} nice reassurance for sure sheesh11!!
[09:53] {magoo} u calling magoo an idiot?he works with me everyday :)
[09:53] {Threei} GM
[09:53] {Threei} CEO: 25B IN LOAN GURANTEES IS A FAIR AMOUNT
[09:53] {Threei} I can't watch it...
[09:53] {GeoArb} what i call people depends how far i am from them
[09:53] {Threei} greatest companies are reduced to beggars
[09:53] {esemde} opps!!!!! directed statement not generalized
[09:53] {GeoArb} i am ok with it
[09:54] {dino} lol es
[09:54] {GeoArb} well finally get some decent minds back in medicine and engineering
[09:54] {dino} old quote magoo knows..."surrounded by idiots"
[09:54] {GeoArb} all of them have been chasing finance and making up instruments
[09:55] {dino} ouch cedc
[09:56] {esemde} talk about fire sales...NVDA
[09:56] {Threei} hmmm
[09:56] {esemde} 5 year low
[09:56] {Threei} you would think in times like this vodka ought to be a popular product
[09:56] {GeoArb} heh
[09:56] {esemde} defineately
[09:56] {GeoArb} baileys in my morning coffee today
[09:57] {dino} you are living
[09:58] {GeoArb} I HATE ESIGNAL
[09:58] {GeoArb} when the pipes clog... esignal sure lets you know
[09:58] {Threei} staying on a careful side still
[09:58] {Threei} yesterday was good... but we have this FOMC today on top of everything
[09:59] {dino} ntrs
[09:59] {Threei} which skews the expectations
[10:00] {Threei} let's go to half lot as we did yesterday
[10:00] {esemde} gotta go everyone....see ya tomorow
[10:00] {Threei} take care ese
[10:01] {esemde} see ya vad
[10:01] {dino} ntrs sm l .75
[10:02] {dino} wide wicked
[10:04] {dino} out ntrs .98, +1.23
[10:04] {Threei} typed MER long .50 break... thing was at .65 before I could hit enter
[10:06] {Threei} Long Setup: WB 11 break
[10:06] {Threei} .85 stop
[10:08] {Threei} stop to .89
[10:08] {Threei} half out .23
[10:08] {Threei} scalpers take profit
[10:09] {Threei} out in full +.65
[10:09] {peterg} ty +.16
[10:09] {peterg} got in late
[10:09] {peterg} got out early
[10:10] {Threei} welcome... but don't chase peter
[10:10] {peterg} rt
[10:10] {GeoArb} story of my life
[10:10] {Threei} either they pull back for you or let them go
[10:10] {Threei} wow, nailed top within 3 cents
[10:10] {Threei} rare case with me
[10:11] {Threei} sheesh, look at its drop
[10:11] {Threei} all the way back
[10:15] {Threei} looking at the prices in tech sector... boy, when recovery finally starts (providing world doesn't end)...
[10:15] {Threei} look at NVDA, DELL, KLAC, BRCM
[10:16] {Threei} MER half lot long
[10:16] {Threei} right here
[10:16] {Threei} got .33
[10:16] {Threei} stop under .10
[10:18] {Threei} hmmm... expected it to cut through .50 easier
[10:19] {Threei} either tighten stop to .25 or take small scalp
[10:19] {dino} fwiw watching fdx ntrs, still in v
[10:21] {Threei} whew... held by fingertips
[10:21] {Threei} out MER
[10:21] {Threei} .49, +.16
[10:21] {Threei} if it wants to break, it can do it without me
[10:22] {Threei} potentially scariest call I've ever made
[10:23] {Threei} Long Setup: AIG 2.96
[10:24] {Threei} offer half 3.15
[10:24] {Threei} direct hit
[10:24] {Threei} stop 2.89
[10:24] {dino} fdx sm l .50
[10:24] {Threei} offer second half .31
[10:25] {Threei} direct hit
[10:25] {Threei} going for a smoke
[10:28] {dino} v stop to .87
[10:29] {dino} fdx to .94
[10:31] {dino} out fdx .00 +.50
[10:31] {Threei} WM
[10:31] {Threei} UK'S DAILY MAIL REPORTS JP MORGAN CONSIDERING A NEW APPROACH, CITING UNIDENTIFIED SOURCES
[10:31] {Threei} - reports an $8/shr stock swap offerred by JPM earlier this year was rejected by WaMu{JPM}
[10:31] {dino} v to .30
[10:32] {dino} out v .30, +1.43
[10:32] {Threei} wtg
[10:32] {Threei} what, no takers on AIG?
[10:32] {dino} too busy, 4/4, all over $1 except fdx
[10:32] {dino} need coffee
[10:33] {Threei} ese was right... field day for ya :)
[10:33] {Threei} coffee? I need CEDC product
[10:33] {dino} now get conservative and avoid distractions
[10:34] {dino} yeah, cedc, what to do.....
[10:35] {dino} gs nice comeback
[10:35] {magoo} i took AIG vad, 0out .41
[10:37] {Threei} whew
[10:37] {magoo} yeah fl too
[10:40] {magoo} rimm sh small.412
[10:40] {magoo} fast
[10:41] {magoo} looking for under 96
[10:42] {magoo} ah...cover here
[10:42] {magoo} .15
[10:42] {magoo} scalpin
[10:42] {Threei} US TREASURY CONFIRMS CANCELLATION OF PAULSON SPEECH AS HE IS CURRENTLY SLATED TO FOCUS ON MARKET DEVELOPMENTS
[10:42] {Threei} {XLF AIG}
[10:43] {Threei} hope he doesn't use esignal
[10:43] {magoo} ROFLOL
[10:43] {GeoArb} that was low vad
[10:43] {Threei} don't put it beneath me {G}
[10:43] {GeoArb} well i am locked out of the market.... moving funds to laser
[10:44] {GeoArb} so i guess you can call the move capital preservation
[10:44] {Threei} my respect for those guys is at all time low
[10:44] {Threei} forms DBI, breaks support
[10:45] {Threei} CNBC'S FABER: SOURCES NOTE THAT AIG IS UNLIKELY TO RECEIVE RESCUE PACKAGE TODAY
[10:45] {dino} i see cnbc crucified hank greenberg two years ago, and now they make him a hero again
[10:46] {dino} i still say hank hired the spitzer hooker
[10:46] {Threei} this is priceless:
[10:46] {Threei} PG CFO: US MARKET IS ACCELERATING AT A MODERATE PACE
[10:46] {Threei} lol dino
[10:46] {GeoArb} accelarating
[10:46] {Threei} good job if he did
[10:46] {GeoArb} and moderate
[10:46] {Threei} yeah geo, it's this new speak
[10:46] {Threei} negative growth
[10:47] {dino} geo just doesn't like them in same sentence
[10:47] {GeoArb} so i came up with a new joke
[10:47] {Threei} AIG SPOKESPERSON: NY STATE HAS YET TO PROVIDE A $20B, THAT FIGURE IS CONTINGENT UPON GREATER RESCUE PACKAGE
[10:47] {GeoArb} fuld meets paulson in a bar with a cup in hand
[10:48] {GeoArb} paulson screams..........
[10:48] {GeoArb} NO LEHMAN....AID for you !!!! (seinfield)
[10:48] {Threei} aid nazi?
[10:48] {GeoArb} yup :)
[10:48] {Threei} :)
[10:48] {GeoArb} lemonade
[10:48] {dino} ahhh
[10:49] {Chaeron} good morning all
[10:49] {GeoArb} do the accent dino
[10:49] {Threei} ok... let's watch if headline about those 20B appears, then buy all AIG you can
[10:49] {magoo} chaer:)
[10:49] {Threei} chaeron :(
[10:49] {Chaeron} :P
[10:49] {Threei} mised couple beautiful plays
[10:49] {GeoArb} yeah vad had to take a puff break
[10:49] {GeoArb} he was excited
[10:50] {Chaeron} lol... well, let's find some more
[10:50] {Threei} excited delirium
[10:53] {Threei} wow
[10:53] {magoo} quote server vad?
[10:53] {Threei} 4
[10:53] {Threei} wth
[10:53] {Threei} AIG
[10:53] {Threei} no news yet
[10:53] {Threei} ahhh... CNBC
[10:53] {GeoArb} ok
[10:53] {Threei} sh*t... missed :(
[10:53] {Chaeron} damn
[10:54] {fernp} American Intl doesn't yet have $20 bln from NY pact, state spokesman says; AIG's $20 bln from New York contingent on broader rescue- Bloomberg (2.80 -1.97) -Update-
[10:54] {Chaeron} retrace
[10:54] {Threei} CNBC'S GASPARION: GOVT IS ACKNOWLEDGING 'DIRE' SITUATION, RESCUE PACKAGE MAY NOW BE ON THE TABLE
[10:54] {dino} 100 pt swing dji, aig must have leaked
[10:55] {magoo} QUOTE SERVER VAD
[10:55] {Threei} 4
[10:55] {magoo} trying all
[10:55] {Threei} works fine
[10:55] {dino} cedc sm l .35 risky
[10:55] {Chaeron} 9 too
[10:56] {Threei} can't believe it... that was what I was waiting for on AIG, and missed it
[10:56] {GeoArb} it ran before news
[10:57] {dino} cedc stop is .97 fwiw
[10:58] {Threei} AIG low 1.25... what does the seller feel right now
[10:58] {Threei} good thing we switched to longs on finnies
[10:58] {Threei} that could have really hurt
[10:59] {Threei} ok, now's time for AIG rumor denials I guess
[11:01] {Threei} GS is aiming for 135
[11:03] {dino} 145 you mean
[11:03] {Threei} I'll adjust on the go :)
[11:04] {Threei} FED DECLINES TO COMMENT ON CNBC REPORT THAT GOVERNMENT MONEY IS ON THE TABLE FOR AIG
[11:04] {dino} :)
[11:04] {dino} notice they don't say taxpayer money
[11:07] {dino} cedc stop to .94
[11:10] {dino} mkt drop
[11:10] {Threei} NY FED: REITERATES THAT MEETINGS IN RELATION TO AIG ARE STILL ONGOING
[11:10] {Threei} nice drop
[11:11] {dino} ceedc to .14
[11:11] {Threei} now announce that aid is granted... but do it beofre stock jumps this time
[11:11] {dino} out slip cedc ave .10, +.75
[11:11] {Threei} yeah right
[11:11] {Threei} sigh
[11:11] {Threei} gj dino
[11:12] {dino} ty
[11:12] {dino} micc watch
[11:15] {dino} ntrs drop
[11:15] {Threei} CNBC'S FABER: PRIVATE SECTOR DEAL FOR AIG IS DEFINITELY DEAD
[11:16] {dino} oh ohh
[11:18] {Threei} AIG setting up for new headline, lol
[11:19] {dino} private sector says no, gov't says yes(?)
[11:20] {Threei} something of this kind, yeah
[11:20] {dino} syut destroyed
[11:20] {dino} 48-17 in 2 days
[11:22] {Threei} wow AIG
[11:22] {Threei} swings on $2 stock
[11:22] {Threei} .81 long
[11:22] {Threei} .69 stop
[11:23] {fernp} AIG American Intl: Treasury official said that comments made by Hank Paulson stand from yesterday (inappropriate to use money in the LEH case and inappropriate to use money in the AIG case), but that this is based on a circumstance by circumstance basis - CNBC (2.86 -1.90) -Update-
[11:23] {Threei} invalidated for now
[11:24] {Threei} setup is almost complete
[11:24] {magoo} mkts losing groiund
[11:24] {Threei} .71 long, .59 stop now
[11:24] {magoo} good news would send aig thru 5 imo..not in of course
[11:25] {Threei} nope
[11:25] {Threei} gotta just wait for next headline, lol
[11:25] {GeoArb} so here is a q vad
[11:25] {magoo} no questions'
[11:26] {GeoArb} do we have to also play what everyone else is playing?
[11:26] {Threei} ?
[11:26] {GeoArb} or maybe there is easier money somewhere else?
[11:26] {Threei} you see anything else moving?
[11:26] {GeoArb} no just a thought
[11:26] {GeoArb} playing aig is like playing ES right now
[11:26] {GeoArb} everyone staring at eueballs
[11:26] {GeoArb} eye
[11:27] {dino} geo, i've been on my own all morning
[11:27] {GeoArb} dino youre the pacman...... i wouldnt expect any less lol
[11:28] {dino} watching ntrs for spike low
[11:28] {GeoArb} AIZ chart
[11:28] {GeoArb} broke
[11:29] {Threei} SYUT
[11:29] {Threei} NFANT FORMULA MAKER WITH OPERATIONS IN CHINA TRADING DOWN OVER 50% TODAY
[11:29] {Threei} - share hit after reports this week of dangerous batches of infant formula being produced in China. Its not clear at this time if SYUT or its subsidiaries are involved in that case.
[11:30] {dino} ty, found it too.
[11:31] {Threei} GM
[11:31] {Threei} VICE CHAIRMAN LUTZ: SEE FULL SCALE TARGET PRODUCTION FOR THE VOLT AT ABOUT 60K UNITS
[11:32] {Threei} that's it/
[11:32] {Chaeron} yeah... they're too busy making real cars for the Chinese consumers
[11:33] {dino} when tho?
[11:34] {Chaeron} dunno, but favorite car in China is buick
[11:34] {Chaeron} black ones
[11:35] {GeoArb} aiz nice breakdown
[11:36] {GeoArb} no news
[11:39] {Threei} ACPW
[11:39] {Threei} RECEIVES MULTIMILLION DOLLAR ORDER FROM LEADING GLOBAL INTERNET SEARCH ENGINE PROVIDER
[11:39] {Threei} hmm
[11:39] {Threei} Google?
[11:40] {Threei} WM
[11:40] {Threei} PRICE TARGET LOWERED TO $1 FROM $3 AT MERRILL; MAINTAINS UNDERPERFORM RATING
[11:40] {Threei} JPM REPORTEDLY NOT IN ACTIVE TALKS TO ACQUIRE WM - UNCONFIRMED REPORT
[11:40] {dino} aiz interesting
[11:40] {magoo} jesus...nice of mer
[11:40] {GeoArb} yeah
[11:40] {GeoArb} i am simming
[11:40] {GeoArb} sniff
[11:41] {GeoArb} dont even know why i woke up early
[11:42] {Chaeron} if you move to Russia, you can wake up late and trade... :)
[11:42] {GeoArb} heh
[11:42] {GeoArb} i am thinking bermudas
[11:43] {GeoArb} trade at 10:30
[11:43] {Chaeron} that would interfere with scuba time...
[11:43] {dino} no beach at 10:30
[11:43] {GeoArb} nah
[11:44] {GeoArb} i was born tanned
[11:44] {GeoArb} also dont want to inflict my physice on the pretty crowd :)
[11:44] {Chaeron} or spelling
[11:44] {GeoArb} lol
[11:44] {GeoArb} physik
[11:45] {Chaeron} you're going to wake up Raven if you keep it up
[11:45] {GeoArb} noooo
[11:45] {Threei} and that won't be pretty
[11:45] {GeoArb} got a good wupping last time
[11:45] {GeoArb} i hope you all killed on AIZ
[11:45] {GeoArb} sniff
[11:46] {GeoArb} keeps doing the DBI thing
[11:47] {dino} aiz sm l .45
[11:47] {GeoArb} you plaing the 5 min dino?
[11:48] {dino} ntrs sm l .49
[11:49] {dino} 3
[11:49] {GeoArb} ok
[11:49] {Raven} {}
[11:49] {GeoArb} sheesh
[11:51] {GeoArb} nice dino
[11:51] {_petike} Hy everybody
[11:51] {Threei} EPORTEDLY MUNICH RE IS INTERESTED IN SEVERAL OF AIGS ASSETS
[11:51] {Threei} hi petike
[11:52] {Chaeron} hi there petike
[11:52] {Threei} isn't it interesting how market moves from worry to worry
[11:52] {Threei} last week was all about LEH
[11:52] {Threei} this one is abput AIG
[11:53] {Threei} but really, how do you justify salvation of Bear and letting AIG fail?
[11:53] {GeoArb} ummm
[11:53] {GeoArb} blew out all the funds?
[11:53] {Threei} what funds...
[11:53] {GeoArb} our funds?
[11:54] {dino} aiz stop to .75 ty geo
[11:54] {Threei} funds are created by fed pen
[11:54] {GeoArb} really nice
[11:56] {dino} out aiz .85 +.40
[11:56] {dino} most likely too soon, but in scalp mode now
[11:56] {Threei} yeah, market is locked in a narrow ran ge now
[11:57] {Threei} waiting for AIG developments and for FOMC
[11:57] {dino} rock n roll
[11:58] {dino} darn aiz beauty
[12:00] {Threei} ALLIANZE CEO: NOT INTERESTED IN AIG REINSURANCE OR LEASING BUSINESSES
[12:02] {GeoArb} yeah
[12:02] {dino} they are all "giving it" to aig
[12:03] {Threei} FRIEDMAN BILLINGS SPECULATES ON LOANS TO AIG, NOTES SWF MAY PROVIDE LOAN (TIMING UNCERTAIN)
[12:03] {Threei} jeez
[12:04] {Threei} these idiots should be made to keep their trap shut by law
[12:04] {patience} with all these news stories, it just takes the fun out of trading
[12:04] {dino} out ntrs .89 +.40
[12:04] {GeoArb} cb dino
[12:05] {GeoArb} ok late
[12:05] {dino} they are winners in this aig mess
[12:06] {GeoArb} chubb lloyd
[12:06] {_petike} Hy im really new with stock AIG is whitc company exatly cause when i put AIG my broker shoe me companies and im don`t know whotch AIG what we talking about
[12:07] {Threei} American International Group, Inc
[12:07] {_petike} many thanks
[12:08] {Threei} FITCH PLACES RATINGS FOR AIG SOUTH AFRICA AND AIG LIFE SOUTH AFRICA ON WATCH NEGATIVE
[12:09] {Threei} ok... AIG failure will threaten South Africa and probably whole continent, too
[12:10] {dino} big boys will pick up the life business cheap, they always do (exectutive life, nj life, etc)
[12:13] {dino} imcl
[12:15] {_petike} imcl look like go down like rocket
[12:15] {dino} brb
[12:16] {Threei} no news IMCL
[12:16] {Threei} daily chart looks bottomless
[12:17] {Threei} is any bad news appear, there is just no support
[12:19] {dino} bristal may pull bid
[12:19] {Onix} What time is the FED going to speak?
[12:19] {Threei} 2;15 announcement
[12:19] {Onix} thanks!
[12:20] {Onix} 2;15 EST?
[12:20] {dino} ntrs not following this time
[12:20] {Threei} yes
[12:21] {magoo} always 2:15 est unless a surprise
[12:24] {dino} every 6 weeks
[12:24] {Threei} NATO grew a set
[12:24] {Threei} http://www.telegraph.co.uk/news/worldnews/europe/georgia/2970251/Georgia-Nato-chief-reinforces-claim-to-membership.html
[12:24] {dino} probably cedc's problem
[12:25] {dino} v sm, v wide ntrs l .11
06[12:27] * laserdave1 slaps Threei around a bit with a large trout
06[12:27] * Threei slaps laserdave1 around a bit with a large trout
[12:27] {Threei} this time he was faster...
[12:28] {Threei} {--- aging... getting slow
06[12:28] * magoo slaps laserdave1 around a bit with a large trout
[12:28] {Threei} CNBC'S FABER: POLICYHOLDERS AND NEW YORK GOV PATTERSON ARE PUTTING STRONG PRESSURE ON THE FED TO WORK OUT A PACKAGE FOR THE FIRM
06[12:33] * Chaeron slaps laserdave1 around a bit with a large trout
[12:36] {magoo} i think dino just sdaid hes up 20 grande today lol
[12:37] {Threei} so that's why market ceased moving
[12:37] {Threei} there is no more monay in it, dino got it all
[12:37] {dino} take a zero off
[12:37] {GeoArb} 2000 is impressive in my book
[12:37] {dino} me too geo, doesn't happen often, i'm more steady as it goes
[12:38] {GeoArb} nice
[12:38] {Threei} this headline gets the prize of the day:
[12:38] {Threei} DOW JONES HAS NO COMMENT ON THE AIG SITUATION OR ITS POTENTIAL EFFECT ON THE MAKEUP OF THE DOW JONES INDUSTRIAL AVERAGE
[12:38] {Threei} high five
[12:38] {GeoArb} not this?
[12:38] {GeoArb} (FR) FRENCH GOV SPOKESMAN: THE FRENCH BANKING SYSTEM IS DOING FINE, IN GOOD HEALTH
[12:39] {Threei} finally someone who has no comment on AIG
[12:40] {cosmo} ESLR might be healing
[12:40] {cosmo} somewhat....
[12:40] {Threei} PREVIEW: SEPT NAHB HOUSING MARKET INDEX DUE OUT AT 1PMET
[12:40] {Threei} **consensus expectation: 17e v 16 prior (readings of 16 in July and Aug matched the record low in the index)
[12:40] {Threei} dog with fleas, cosmo...
[12:42] {cosmo} bleeding fleas bites in the streets
[12:42] {Threei} was that poetry?
[12:43] {patience} vad, out of scale of 10, what do you feel is the fear factor in the markets right now? ty
[12:43] {Threei} 11
[12:43] {GeoArb} nice vix
[12:43] {Threei} any blip, this market is willing to drop another 500 points in a hurry
[12:44] {Threei} like, "no aid for AIG, swim on your own" - and watch market cratering
[12:48] {magoo} if so..gS good candidate to tank
[12:48] {Threei} all of them
[12:49] {Threei} dominoes from AIG fall will be bigger than from LEH's
[12:49] {Threei} SENATOR MENENDEZ: WOULD BACK A BRIDGE LOAN TO AIG
[12:49] {Chaeron} "Bridge to Nowhere"
[12:49] {GeoArb} are yo for it or against it?
[12:50] {Threei} and this particular senator is significant why?
[12:50] {GeoArb} probably on some subcommitte
[12:50] {Chaeron} good question, both of them... but what committes is he on?
[12:50] {Threei} well, he was good for 5 cents
[12:50] {Threei} lol
[12:51] {dino} signifcant because he's running for re-election, lol
[12:54] {Threei} AIG
[12:54] {Threei} FOUNDER GREENBERG REPORTEDLY MAY COOPERATE WITH OTHER SHAREHOLDERS TO CONSIDER TAKING THE FIRM PRIVATE
[12:55] {patience} good move
[12:56] {dino} lol, throw hank out, then ask him back at $1/share. he was selling like crazy in the 50s
[12:56] {Threei} well... round of applauses for hank
[12:56] {dino} indeed
[12:57] {dino} must be driving spitzer crazy
[12:58] {Threei} now, here is what every market participant really needs to know in order to define his strategy:
[12:58] {Threei} NY FED'S GEITHNER REMAINS IN NEW YORK IN ORDER TO MONITOR MARKETS, NOT IN WASHINGTON FOR FOMC MEETING
[12:59] {Threei} I mean... how do you buy or sell not knowing geographic location of geithner
[13:00] {Threei} *SEPT NAHB HOUSING MARKET INDEX: 18 V 17E
[13:09] {dino} v not participating
[13:11] {dino} v sm l v .55 wide
[13:13] {Threei} look at AIG volume over last two days
[13:13] {Threei} who would have thought been counter stocks would be the most exciting in the market, lol
[13:20] {Threei} about 1 hour left
[13:29] {peterg} meanwhile, back at the ranch....
[13:30] {peterg} the arachnids began their dance....
[13:31] {Threei} US TREASURY'S MCCORMICK: US ECONOMY WILL CONTINUE TO GROW, HOUSING CORRECTION IS A NECESSITY, WILL TAKE TIME FOR STABILIZATION
[13:31] {Threei} - Notes that the Treasury had no choice with regards to GSEs
[13:33] {Threei} PREVIEW: FOMC RATE DECISION DUE OUT AT AROUND 2:15PMET
[13:33] {Threei} **consensus expectation of analysts when last surveyed was for no change, at 2.00%, but given the recent fallout in the credit market all bets are off today. Many analysts commenting this week have called for a 50 basis point cut from the Fed to shore up confidence in the financial markets. Others believe the Fed has to save its ammunition in case the very fluid market situation deteriorates even further in the coming days and weeks.
[13:33] {Threei} **The October fed fund future is currently pricing in roughly a 84% chance the Fed cuts rates 25 basis points this afternoon. With stock futures down sharply before the US open, that contract had seen the odds of a 50 basis point cut approach 30% this morning. Fed fund futures and Treasury prices moved away from their highest levels after the Fed announced it had accepted $50B in overnight repos and the equity markets experienced some stabilization on hopes of a government sponsored solution for AIG.
[13:34] {Threei} be patient guys
[13:34] {Threei} it's not easy, but heck
[13:34] {Threei} we had great moprning
[13:34] {Threei} with FOMC close,
[13:34] {Threei} and quite hectic trading affter announcement
[13:35] {Threei} no need to subject yourself to huge moves with no rhyme or reason
[13:39] {dino} v stopped -.50 v sm
[13:43] {fernp} out AMR +.10 (little scalp)
[13:43] {dino} fdx drop
[13:47] {Threei} WEAKNESS IN CEG AND SRE WEAKNESS ATTRIBUTED TO CONCERNS ABOUT THEIR COMMODITY TRADING BUSINESSES
[13:47] {Threei} {SRE}
[13:47] {Threei} CEG... is it "weakness"?
[13:47] {Threei} more like destruction
[13:48] {GeoArb} rumor ceg has bad ties with leh
[13:49] {Threei} at this point... is there such thing as good ties with LEH?
[13:49] {GeoArb} correction
[13:49] {GeoArb} is being punished for good ties with leh
[13:49] {Threei} lol
[13:50] {dino} ouch ceg
[13:50] {Threei} mama mia
[13:50] {Threei} last time we've seen such dump was BSC
[13:52] {Threei} CEG
[13:52] {Threei} HEARING JP MORGAN MAKING CAUTIOUS COMMENTS
[13:52] {Threei} cautious?
[13:52] {Threei} rofl
[13:52] {Threei} a bit late for caution
[13:54] {dino} yeah, tomorrow they will lower to hold from buy
[13:54] {Threei} and will trail their traget, just like trailing stop
[13:54] {Threei} OK... halt, or buy around 10? :)
[13:55] {dino} dk
[13:55] {Threei} oh boy
[13:56] {dino} maybe easier to short sre
[13:56] {Threei} just made 500 on SRE in 3 seconds
[13:56] {Threei} short
[13:56] {Threei} hmmm
[13:56] {dino} lol see just above
[13:56] {Threei} headline says CEG halted
[13:56] {Threei} still trading on my screen
[13:56] {dino} trading on my screen
[13:57] {Threei} CEG
[13:57] {Threei} HALTED AT NYSE ON ORDER IMBALANCE
[13:57] {Threei} shrug
[13:57] {peterg} so...should I stop trading ceg
[13:57] {GeoArb} load up !!!!!
[13:57] {GeoArb} long
[13:57] {GeoArb} (kidding)
[13:58] {Threei} correction
[13:58] {Threei} 11 second SRE trade
[14:00] {Threei} SRE
[14:00] {Threei} SPOKESPERSON POINTED TO WEAKNESS IN CEG STOCK AS PARTIAL REASON FOR SELLOFF, NOTED SOME KIND OF PRESS RELEASE IS LIKELY IN THE NEAR FUTURE
[14:00] {Threei} some kind?
[14:00] {Threei} lol
[14:02] {Threei} aside of sadness about huge wealth destruction,
[14:02] {Threei} I view these days as the greatest show I've ever seen in the market. Priftable trades is icing on a cake
[14:02] {GeoArb} how is this dectruction?
[14:02] {GeoArb} why not call it equity transfer
[14:03] {Threei} well... from whom to whom
[14:03] {GeoArb} ummmmmm "the foreign hand"
[14:03] {dino} risky v sm sre l .80
[14:03] {Threei} all these huge selloffs impact pension funds
[14:04] {Threei} and people are involved in those involuntarily
[14:04] {Threei} they never mnade a decision to invest in these companies
[14:04] {GeoArb} true
[14:04] {Threei} yet they are being dirctly infl;uenced
[14:04] {GeoArb} i wouldnt know as i dont know what pensions are
[14:04] {Threei} neither do I
[14:04] {GeoArb} do they still ecist in US in private companies?
[14:04] {Threei} but mechanics are there nonetheless
[14:05] {GeoArb} the only one i know is lockheed martin
[14:05] {Threei} ask GM
[14:05] {GeoArb} i just have an all cash 401K
[14:05] {Threei} lol, "halted" CEG has bounced about 10 points
[14:05] {Threei} they can't even halt stock properly
[14:06] {GeoArb} yeah wierd
[14:06] {Threei} let alone handle its trading
[14:07] {Threei} less than 10 min till FOMC
06[14:07] * Threei slaps laserdave1 around a bit with a large trout
[14:07] {Threei} low was 13... I missed bottom by just 3 points
[14:08] {Threei} pretty lose in terms of CEG trading {GGG}
[14:08] {dino} out hit stop 48.80, +2.00
[14:08] {GeoArb} nyse qoute halted do to order imbalance, but stock was never halted
[14:08] {dino} sre
[14:08] {GeoArb} i enquired
[14:08] {dino} thsat was
[14:08] {GeoArb} CEG
[14:08] {Threei} wtg dino
[14:09] {Threei} so, NYSE halts its traaidng, while ECXNs trade it
[14:09] {dino} ty lucky
[14:09] {dino} i was waiting ceg 13.27
[14:09] {Threei} on top of everything else we have market fragmentation
[14:09] {dino} no fill
[14:10] {Threei} whereevr I glance, I see sea of incompetence...
[14:10] {GeoArb} GS tight range
[14:10] {GeoArb} waiting........
[14:10] {Threei} 5 minutes
[14:11] {Threei} wow... raraely do you see GS being that narrow
[14:11] {dino} usually 25 cents
[14:12] {laserdave1} ya that tight is nuts
[14:12] {laserdave1} especially with earnings
[14:12] {laserdave1} thats crazy
[14:12] {laserdave1} 2 and a half minutes
[14:12] {magoo} [13:35] {Threei} no need to subject yourself to huge moves with no rhyme or reason
[14:12] {magoo} [13:39] {dino} v stopped -.50 v sm
[14:12] {magoo} [13:43] {fernp} out
[14:13] {laserdave1} gs big move up there
[14:13] {magoo} god dammit..so i took a nap and missed those ceg, sre trades
[14:13] {laserdave1} ge big bounce
[14:14] {dino} v rinsed
[14:14] {magoo} no change
[14:14] {GeoArb} donw donw down
[14:14] {Threei} (US) FOMC LEAVES RATES ON HOLD AT 2.00%
[14:14] {laserdave1} no change in rates
[14:14] {laserdave1} were dead
[14:14] {dino} no change
[14:14] {laserdave1} market death
[14:14] {laserdave1} watch out longs
[14:14] {Threei} good for them
[14:15] {Threei} first time in a long while I say judos to fed
[14:15] {Threei} kudos too
[14:15] {GeoArb} and karate
[14:15] {GeoArb} damn was slow
[14:15] {laserdave1} be carefull
[14:15] {laserdave1} this is nuts
[14:15] {dino} careful for what you wish
[14:15] {laserdave1} i cant believe they cut 0
[14:15] {GeoArb} balls for a change?
[14:15] {GeoArb} or recklessness
[14:16] {Threei} I don't see it as recklessness
[14:16] {Threei} cut would be reckless, IMO
[14:16] {Threei} too low rates for too long was what got us into this mess
[14:16] {magoo} i think they are clueless
[14:16] {Threei} well, at leaststarted it
[14:16] {magoo} needed 50 basis cut
[14:16] {Threei} cut would re-killed USAD, re0fuelled oil
[14:17] {Threei} this drop will correct itself quickly IMO
[14:17] {laserdave1} watch out maybe the bail out AIG?
[14:17] {dino} dollar doesn't matter
[14:17] {dino} weaker dollar cheaper to pay off our debts
[14:17] {Threei} oh, it does in terms of oil price
[14:17] {dino} not a believer
[14:18] {dino} demand drives oil
[14:18] {GeoArb} i get paid peanuts so it doesnt matter anyway :)
[14:18] {Threei} hmmm
[14:18] {Threei} I don't see how demand could change in such proportions over last two months :)
[14:18] {dino} world is slowing down oil is dropping
[14:18] {Threei} from 150 to 90 on demand?
[14:18] {GeoArb} thats the election miracle
[14:18] {Threei} doesn't compute
[14:19] {dino} see above. every copuntry is slowing, slowing demand predicted
[14:19] {Threei} USD is workld's reserve currency, and oil is priced in USD
[14:19] {dino} its only a small part. but enough debate
[14:19] {Threei} ah great... say the last word and end debate {G}
[14:20] {dino} lol
[14:20] {Threei} anyway... back to business as usual which means:
[14:20] {dino} problem is deflation....commodities, houses, financials, etc
[14:20] {Threei} market is hinged on AIG developments again
[14:20] {dino} think japan in the 90s
[14:21] {GeoArb} down
[14:25] {magoo} ASIG NEWS
[14:25] {magoo} AIG
[14:25] {Threei} cnbc?
[14:25] {magoo} yes
[14:25] {Threei} what did they say?
[14:25] {magoo} right now
[14:25] {GeoArb} NEW YORK GOV PATTERSON: AN AIG FAILURE WOULD BE A NATIONAL CALAMITY
[14:26] {magoo} nah..allcrap
[14:27] {dino} same old
[14:27] {Threei} moving nonetheless
[14:27] {dino} ceg drops again
[14:30] {dino} waiting v sm aound 15
[14:32] {dino} too low
[14:34] {dino} fdx sm l .80
[14:38] {Threei} PIMCO'S EL ERIAN: FED AVOIDING CUT IN RATES DUE TO CONCERNS OVER INFLATION, DECISION DEMONSTRATES THAT IT IS FOCUSED ON LIQUIDITY MEASURES
[14:38] {Threei} *(US) FOMC LEAVES RATES ON HOLD AT 2.00%; VOTE UNANIMOUS, NOTES FINANCIAL MARKET STRAINS HAVE INCREASED SIGNIFICANTLY
[14:38] {Threei} - will act as needed to promote stability, inflation to moderate this year and next
[14:38] {Threei} - Discount rate unchanged at 2.25%
[14:38] {Threei} - Growth has slowed recently due to slowing household spending
[14:38] {Threei} - Upside risks to inflation are a concern, substantial easing of policy and liquidity measures should promote moderate growth
[14:38] {Threei} - Turmoil likely to weigh on growth for next few quarters
[14:38] {dino} out fdx .20 +.40
[14:38] {laserdave1} AIG fire
[14:38] {Threei} ED HAS RECONSIDERED STANCE ON AIG ASSISTANCE, IN LINE WITH GASPARINO REPORT - UNCONFIRMED REPORT
[14:38] {Threei} huh?
[14:39] {Threei} that's quite confusing
[14:39] {dino} ed?
[14:39] {Threei} Fed
[14:39] {Threei} see market spike?
[14:40] {Threei} it was all about AIG
[14:40] {dino} ok
[14:40] {dino} thx
[14:40] {laserdave1} almost 200 point jump on DOW
[14:40] {laserdave1} insanity
[14:41] {dino} yeah, here i lay out on fdx. hits and goes a buck, sheesh
[14:42] {peterg} meanwhile, back at the ant farm....
[14:43] {peterg} meanwhile
[14:43] {dino} i have never traded a day like today. odd
[14:43] {dino} i suppose we go -50 dji again
[14:43] {Threei} I don't think it has any precendents in my experience either dino
[14:44] {magoo} my quotes real "clunkie"
[14:44] {dino} i guess we'll call it "peculiar".
[14:44] {peterg} meanwhile
[14:44] {Threei} quotes look fine... need anything?
[14:44] {dino} lol pete
[14:44] {dino} magoo, you look chunky
[14:45] {peterg} hello
[14:45] {laserdave1} aig not commenting
[14:46] {peterg} guess not disconnected
06[14:46] * Threei slaps laserdave1 around a bit with a large trout
[14:46] {magoo} server vad?
06[14:46] * magoo slaps laserdave1 around a bit with a large trout
[14:46] {Threei} 4
[14:46] {magoo} thats the one
[14:46] {Threei} dave, do you ever look at your dcc?
[14:46] {dino} i don't know if a beer will cut it today magoo
[14:46] {Threei} switch back and forth?
[14:47] {magoo} vad, u dont think i doing that? theres only like 200 servers
[14:47] {Threei} you think I think?
[14:48] {peterg} "Trade what you see, not what you think"
[14:48] {Threei} lol
[14:48] {dino} well patience, theres out 300 pt dji range again
[14:48] {magoo} that does it
06[14:48] * magoo slaps peterg around a bit with a large trout
[14:48] {peterg} Of course you don't officially
[14:48] {peterg} ahh, thanks mags
[14:48] {dino} out=our
[14:48] {Threei} I got so conditioned to that peter... I stopped seeing any need in thinking whatsoever
[14:49] {Threei} not chosing between beer and vodka is real brain twister
[14:49] {Threei} not = now
06[14:50] * peterg slaps Raven around a bit with a large trout
06[14:50] * peterg slaps magoo around a bit with a large trout
[14:50] {peterg} wild aim, soryry
06[14:50] * Raven slaps peterg around a bit with a large trout
[14:51] {Raven} nice
[14:51] {dino} lol, but vad, i agree on the "see vs think" makes all the difference
[14:52] {Threei} I know... when I try to start thinking, you are first to put me back in line
[14:52] {Threei} oh, and head hurts
[14:52] {Threei} AIG new round of frenzy
[14:52] {Threei} new news?
[14:53] {peterg} I was testing the theory that one could slap all at once but only got Raven
[14:53] {Raven} lol
[14:53] {Threei} lol
[14:53] {Raven} Cramer plugged AIG
[14:53] {Threei} ummmm
[14:53] {Threei} kiss of death?
[14:54] {Raven} he said they should receive some funding ... did not really rec the stock
[14:54] {dino} so tomorrow all of today again w/ms reporting
[14:55] {Raven} uhhh ... come again?
[14:55] {dino} morgan stanley tomorrow
[14:56] {Threei} come on Raven
[14:56] {Threei} I know we rub off of you
[14:56] {Raven} special dino code
[14:56] {Threei} but this is simple... jjust some dino-speak
[14:56] {Threei} MS reporting... tomorrow will repeat today all over again
[14:56] {Raven} I'll have to take a course in it someday
[14:56] {Threei} sheesh AIG
[14:57] {dino} not worth it
[14:57] {Threei} RBC COMMENTS ON CRISIS, SPECULATES THAT AN AIG FAILURE COULD RESULT IN LOSSES OF $180B FOR FINANCIAL FIRMS (TIMING UNCERTAIN)
[14:57] {Threei} FED DECLINES COMMENT ON RECENT REPORTS OF A POSSIBLE LOAN PACKAGE FOR AIG
[14:58] {Threei} awww
[14:58] {Threei} why did I not short on this last headline
[14:59] {peterg} little aig +.41
[14:59] {dino} gj
[14:59] {Threei} wtg peter
[14:59] {peterg} tks
[15:05] {magoo} are we in anything?
[15:05] {Threei} yes
[15:05] {Threei} I am in fight with laserdave
[15:05] {Threei} trout vs salmon
[15:07] {dino} i'm in confused state
[15:07] {Threei} and Raven is in deep amazement how he managed to get himself involved with such a bunch as us
[15:08] {dino} the efficiency of the markets is amazing
[15:10] {magoo} very efficient today
[15:10] {Threei} I also tried to engage peter in argument who would win a fight, Batman or Spiderman... but he considered the matter (and me) unintellectual
[15:11] {peterg} aquaman!
[15:11] {peterg} rules
[15:12] {peterg} it is true I am engaged in deep thought preparing a class for friday
[15:12] {Threei} (US) SENATOR DODD: BELIEVES IT IS A GOOD IDEA TO CONSIDER ANOTHER STIMULUS PACKAGE
[15:12] {Threei} yeah?
[15:12] {Threei} not enough money is given away still?
[15:12] {peterg} how about a good comedy series?
[15:12] {peterg} for stimulus
[15:12] {Threei} LEHHALTED: NEWS PENDING
[15:12] {dino} good idea for his campaign
[15:12] {Threei} lol
[15:12] {Threei} what was there to halt
[15:13] {cosmo} the amero package maybe?
[15:13] {Threei} AIG
[15:13] {Threei} NY AG REPORTEDLY SUPPORTS THE FED'S INVOLVEMENT IN PRIVATE SECTOR COLLABORATION FOR THE COMPANY
[15:14] {Threei} meaninglessness (if that's a word) of some of these headlines exceeds thinkable
[15:14] {Threei} and unthinkable
[15:14] {dino} cedc sm l .45
[15:14] {dino} risky stop lod
[15:16] {dino} v strange
[15:18] {cosmo} mkt healing
[15:18] {Threei} this rally feels much healthier than all previous bounce attempts
[15:18] {cosmo} eslr too
[15:19] {Threei} and I am gklad it occurs in absence of rate cut
[15:19] {Threei} glad too
[15:19] {Threei} shows that it happens on market's own initiative so to speak
[15:19] {dino} out cedc .90, +.45
[15:19] {Threei} not just a short-lived stimulus
[15:19] {cosmo} fed guessed right...
[15:20] {Threei} I am sure they never considered cut,
[15:20] {Threei} it's talking heads yesterday
[15:20] {peterg} out cedc +..46 tks dino
[15:20] {Threei} who all of sudden created this speculation
[15:20] {Threei} and convinced themselves and all around that it's in cards
[15:20] {dino} np peter gj
[15:20] {Threei} good job on CEDC folsk
[15:21] {Threei} peter is having field day, again
[15:21] {peterg} best ever; gg to sit on hands now thks
[15:21] {Threei} must feel good, to turn the corner
[15:21] {magoo} THAT DOES IT
06[15:21] * magoo slaps peterg around a bit with a large trout
[15:21] {peterg} uhoh youll ginks it
[15:21] {peterg} magoo you da man
[15:22] {dino} wtg peter
06[15:22] * peterg slaps magoo around a bit with a large trout
[15:22] {magoo} thats not allowed there mister
[15:22] {Threei} lol
[15:23] {Threei} magoo is knoqwn as He Who Slaps But Can't be Slapped
[15:23] {peterg} as befits a personage of his exaltation
[15:25] {dino} howard simons at realmoney wants to meet the daytrader that made money today......uhhhhh
[15:25] {Threei} huh?
[15:26] {magoo} i'm too busy to meet with him lol
[15:26] {Threei} invite him to read our today's log when it's posted after hours
[15:26] {dino} 2:57 eastern time
[15:26] {dino} bet this whole room did
[15:26] {Threei} boy... does any of those people actually trade?
[15:26] {peterg} I always meets the public.....for a fee!
[15:27] {Threei} US TREASURY SPOKESPERSON REMARKS THAT PAULSON IS UPDATING LAWMAKERS ON MARKET DEVELOPMENTS, HAS NOT INDICATED ANY ACTION - TV INTERVIEW
[15:27] {Threei} if he is willing to take a bet,
[15:27] {Threei} my terms are:
[15:28] {Threei} he garantees paying me 10x what I made today,
[15:28] {Threei} I send him blotter
[15:28] {Threei} verified by broker
[15:28] {Threei} or third party
[15:28] {Threei} or whatever
[15:28] {Threei} they confirm my profit for the day, he sends me 10 times as much
[15:28] {magoo} god dammit..filled only 2 shares aapl short @ 141.06
[15:28] {Threei} and posts it on real money
[15:29] {magoo} buck forty
[15:29] {Threei} lol
[15:29] {Threei} I get great advetrtisement, increase my profti for the day tenfold, guy gets to admit he is wrong
[15:29] {Threei} win win all around
[15:30] {dino} lol
[15:30] {dino} i lost alot of respect for him
[15:30] {Threei} I've no idea who he is, maybe he is a good trader, just not his kind of market
[15:30] {Threei} but hell,
[15:30] {dino} buy and hold
[15:31] {Threei} doesn't being a good trader also means understanding that others migfht make money where you don't?
[15:31] {Threei} ahhh... well, buy and hold is not trading at all
[15:31] {Threei} why pretend he knows anything about daytrading then
[15:32] {dino} i'm sure the rev shark will smack him
[15:32] {peterg} +.09 aig
[15:32] {peterg} cant stop
[15:32] {peterg} macdonalds ad; im lovin it
[15:32] {dino} peter, step away from the keyboard, :)
[15:32] {peterg} thks dino
[15:32] {Threei} peter, is wife nearby?
[15:33] {peterg} no at her job
[15:33] {Threei} too bad
[15:33] {Threei} if you can't sit on your hands, she would have to do it
[15:33] {Threei} don't do it... exercise self-control
[15:34] {peterg} ok ok tks
[15:34] {Threei} that's what will get you through learning curve first,
[15:34] {Chaeron} just type bad lokes here instead like I do
[15:34] {Threei} through any drawdown later
[15:34] {peterg} aig lks gd
[15:34] {Chaeron} jokes that is
[15:43] {Threei} what, no more AIG news before close?
[15:44] {dino} yeah, the xmas party is cax'd
[15:46] {Threei} SEN DODD REPORTEDLY SKEPTICAL OVER POSSIBLE INTERVENTION IN AIG
[15:50] {Threei} mesmerizing AIG
[15:51] {peterg} dont tempt me
[15:51] {Threei} nah... just like watching blinking lights
[15:51] {peterg} true
[15:52] {peterg} gets stuck; lays bid 4/03 ask 3.82
[15:52] {peterg} says
[15:52] {peterg} now better
[15:52] {peterg} 4
[15:53] {Threei} PRESIDENT BUSH WILL NOT MAKE ANY REMARKS AFTER MEETING WITH PAULSON AND THE FINANCIAL MARKETS WORKING GROUP TODAY
[15:54] {peterg} ah thank theyre doin a heckuva job, just a heckuva job
[15:54] {Threei} hehe
[15:55] {dino} he'd just mess it up anyway
[15:55] {Threei} - White House notes its best to "limit public comments" on markets.
[15:56] {cosmo} the public's?
[15:56] {Threei} come on... what'as the fun in it
[15:56] {Threei} endless barrage of aid-no iad is much more entertaining
[15:58] {Threei} what now?
[15:58] {dino} relax time
[15:58] {peterg} more fun tomorrow
[15:58] {Threei} NY GOV PATTERSON: FED IS TRYING TO GET PRIVATE INVESTMENT INTO AIG
[15:59] {peterg} ok; everybody here ten bux
[15:59] {Threei} {PRIVATE INVESTMENT{ get away from me
[15:59] {Threei} okay guys, thank you all
[15:59] {Threei} great day
[15:59] {Threei} have a good evening, see you all tomorrow
[15:59] {peterg} thanks all lots of fun
[15:59] {Threei} wait
[15:59] {Threei} MS
[15:59] {Threei} TO PRE-ANNOUNCE TONIGHT AT THE CLOSE - CNBC
[16:00] {dino} pre-announce, what and then announce real tomorrow?
[16:00] {Threei} NY GOV PATTERSON: FED IS TRYING TO GET PRIVATE INVESTMENT INTO AIG, OPTIMISTIC ABOUT PROSPECTS FOR A DEAL, NOTES FED "WILL NOT CARRY THE BALL" IN ANY AIG RESCUE
[16:03] {fernp} good evening everybody. see u tomorrow
[16:03] {Threei} take care fern
[16:03] {dino} later fernp
[16:09] {Threei} OK, don't want to wait for MS
[16:10] {Threei} enough excitement for the day
[16:10] {Threei} oh here it is
[16:10] {Threei} REPORTS Q3 $1.32 V $0.77
[16:10] {Threei} R$8.0B V $6.28BE
[16:10] {Threei} - Liquidity $B at end of Q3, $B q/q

Sep 15 2008

Session Time: Mon Sep 15 00:00:00 2008

[08:10] {esemde} morning.....if anyone is there
[08:11] {Threei} Good morning
[08:11] {brian3579} gm
[08:11] {Threei} had to wake up early to witness the end of the world
[08:12] {Threei} brian :)
[08:12] {esemde} last i saw yesterday...market was down huge DOW dn300+
[08:12] {Threei} just imagine, grandkids asking "how did the end of the world look" and me saying "oh, I slept through it"
[08:13] {esemde} no kidding
[08:14] {esemde} S&P -51, NAZ -53 DOW- 348
[08:15] {Threei} the only bright spot is oil, -4.97
[08:15] {esemde} too funny
[08:16] {Threei} AIG is getting some buying...
[08:16] {Threei} GS TO ASSUME SPECIALIST OPERATIONS FROM LEH ON THE NYSE
[08:18] {Threei} eventful weekend...
[08:18] {Threei} news wire was scorching hot
[08:19] {Threei} every few minutes new turn of LEH/AIG/MER/BAC etc
[08:23] {Threei} I see DJI - 439
[08:24] {Threei} strange... MER is dropping while BAC is not moving
[08:24] {Threei} deal is getting threatened or what
[08:26] {Threei} I don't see any reports... MER is trading like deal maybe falling through
[08:27] {Threei} with BAC at 29 and deal at .86, MER should be closer to 24
[08:27] {Onix} good morning all
[08:27] {Threei} was at 23.5, which was about right, then started selling off sharply
[08:27] {Threei} Onix :)
[08:28] {Threei} 'cause if the deal is off, I want to short the hell out of MER while it's above 20
[08:28] {Threei} and can't see what would keep it from falling to 15 at least
[08:30] {esemde} don't they just crang up MER shares liike that o get a better deal for when they dump them today VAD?
[08:30] {Threei} *SEPT EMPIRE MANUFACTURING: -7.4 V 1.0E
[08:31] {Threei} not sure I understand ese
[08:31] {magoo} morn
[08:31] {Threei} hey mags
[08:32] {esemde} MER shares are up about 4 dollars they should be tanking shouldn't they
[08:32] {Threei} MER got bought out by BAC
[08:32] {esemde} they've gone bankrupt
[08:32] {Threei} all stock deal, .86 of BAC shares
[08:32] {magoo} ya ya..i see
[08:33] {magoo} wow.remember our discussion friday that poeple were buying LEH, AIG for weekend deal?
[08:34] {esemde} had to leave didn't catch discussion
[08:34] {Threei} wasn't very astute, was it
[08:35] {magoo} vad, whats the deal?as in..laser says open at 7 a.m..can we trade at 7 a.,...seems everything starts at 8 am
[08:35] {Threei} we can
[08:35] {Threei} charts start at 8
[08:35] {Threei} bids/offers and your ability to place an order - from 7
[08:36] {magoo} oh..just no charts?
[08:36] {Threei} yup
[08:36] {magoo} but executions 7 a.m?
[08:36] {Threei} yes
[08:36] {magoo} or just bids/offers
[08:36] {Threei} [08:35] {Threei} bids/offers and your ability to place an order - from 7
[08:36] {Threei} wake up, will ya :)
[08:40] {Threei} the Boards of Directors of major banks and brokers have paid themselves from shareholder capital roughly $100 billion in year-end management performance bonuses over four years, including $38 billion this past year.
[08:42] {Threei} MORGAN STANLEY COMMENTS THAT A JPM BUYOUT OF WAMU WOULD MAKE SENSE
[08:43] {Threei} that sounds to me like an agreement between Moldova and Argentina about cooperation between Mongolia and Ecuador
[08:44] {Threei} ba back in 5
[08:50] {Threei} SEC: COMMITTED TO REDUCING THE DISLOCATIONS CAUSED BY LEHMAN'S BANKRUPTCY
[08:53] {Threei} oil under 95
[08:54] {magoo} vad..can u put up that C analysis again
[08:54] {pita} morning all, what a weekend, eh?
[08:54] {Threei} no kidding pita
[08:55] {Threei} C analysis?
[08:55] {magoo} yes
[08:55] {Threei} ?
[08:59] {fernp} Good morning everybody
[09:00] {Threei} fern :)
[09:04] {Threei} Raven... does it look like black monday to you?
[09:06] {Raven} like 1987 you mean ?
[09:06] {Threei} yeah
[09:07] {Raven} seems altogether different to me
[09:07] {Threei} do share
[09:07] {Raven} each crash is different
[09:08] {Raven} interest rates way lower .... derivatives outmof control
[09:08] {Raven} real estate an issue'
[09:08] {Raven} liquidity gone in many areas
[09:08] {Threei} meaning, this time it has potential to go much lower?
[09:08] {Raven} SEC seems to have disappeared
[09:09] {Raven} world market now ... huge sums of money sloshing around
[09:09] {Raven} economy much bigger
[09:09] {Raven} and a lot of this has been doscounted
[09:10] {Raven} I think you'll have crashes in individual issues
[09:10] {Raven} not necessarily in overall market
[09:11] {Raven} in 2 years all will be forgotten and we'll have some new bubble to pop
[09:11] {Threei} lol
[09:11] {Raven} ain't Capitalism wunnerful ?
[09:11] {Threei} maybe we get rid of Fed and bubbles stop...
06[09:11] * Threei wakes up
[09:11] {peterg} no, I still have my beanie babies collection
[09:11] {Threei} lol
[09:12] {peterg} it is my retirement fund
[09:12] {Threei} amazed me that engineer of current crisis had the nerve to appear with his comments yesterday
[09:13] {Raven} he has no shame
[09:13] {Threei} obviously
[09:13] {peterg} which one?
[09:13] {Raven} blahblahblahblah
[09:13] {Threei} Greenspan, peter
[09:13] {Raven} Greenspeak
[09:13] {peterg} ah so
[09:13] {Threei} this is not capitalism, Raven... this is socialism for selected
[09:13] {Raven} there are whifs of that for sure ...
[09:14] {dino} gm all, end of days for some it seems
[09:14] {Raven} {------------ checking ... still OK here
[09:15] {Threei} yes dino
[09:15] {Threei} WHITE HOUSE CALLS ON IRAN TO SUSPEND URANIUM ENRICHMENT OR FACE NEW SANCTIONS
[09:15] {Threei} - Reminder: Earlier today the IAEA stated that it saw no substantive progress on Iran allegations and added that Iran refuses cooperation on atomic weapon allegation
[09:15] {Threei} *AUG INDUSTRIAL PRODUCTION: -1.1% V -0.3%E; CAPACITY UTILIZATION: 78.7% V 79.6%E
[09:15] {Threei} - Prior Industrial Production revised from 0.2% to 0.1%
[09:15] {Threei} - Prior Capacity Utilization revised from 79.9% to 79.7%
[09:16] {Threei} CME GROUP NOTES THAT LEH IS OPERATING AS NORMAL AND MEETING ITS OBLIGATIONS TO CME CLEARING
[09:19] {GeoArb} gm....
[09:19] {Threei} Geo :)
[09:19] {GeoArb} so who is betting the farm on LEH long? :)
[09:20] {dino} i may be overthinking this, but w/only 2 big investment banks left, eventually they should get bigger pieces of all deals
[09:20] {Threei} GS and JPM you mean?
[09:20] {GeoArb} MS
[09:21] {Threei} there were specualtions already earlier on JPM and WM
[09:22] {dino} ms gs
[09:24] {Threei} BAC
[09:24] {Threei} S&P LOWER CREDIT RATING
[09:26] {Threei} emotions will run high at the open
[09:26] {Threei} intend to sit it out
[09:26] {Threei} especially on financial names
[09:26] {Threei} out of control volatility can kill you or make you great profit - all out of your control
[09:27] {Threei} PIMCO'S GROSS: DOES NOT BELIEVE THE FED WILL CUT RATES TOMORROW
[09:27] {Threei} let's see how common sense by watching BAC open action
[09:27] {Threei} commons sense says down
[09:28] {GeoArb} some new alerts
[09:28] {GeoArb} http://marketmovers.blogspot.com/
[09:28] {GeoArb} 1. Alert: Running Up/Down Now
[09:28] {GeoArb} 2. Alert: 2/5/15 Green/Red Bar Reversal
[09:28] {GeoArb} 3. Alert: 2/5/15 Wide Range Bar
[09:28] {GeoArb} 4. Filter: Fundamental based
[09:28] {GeoArb} 5. Filter: Min/Max Position of Open(c)
[09:28] {GeoArb} 6. Filter: Min/Max Up Previous Day
[09:31] {Threei} QTWW
[09:31] {Threei} ANNOUNCE SOLAR EXPANSION INTO KOREA - SIGNS JV AGREEMENT WITH Q&TECH/YONGSAN TO BUILD A 30 MW SOLAR PRODUCTION FACILITY WITH ASOLA
[09:31] {Threei} The initial capacity is 30 MW (megawatts of peak power) solar modules consisting or mono- and poly-crystalline silicon solar modules, with a potential to generate revenues in excess of $100 Million annually.
[09:33] {judijim} good morning all
[09:33] {Threei} jj :)
[09:34] {esemde} J
[09:34] {esemde} J
[09:35] {peterg} last sale on aig seems stuck at .06
[09:35] {peterg} while price rockets up and down
[09:35] {patience} tsx down -409
[09:35] {esemde} wow
[09:35] {GeoArb} TSX?
[09:35] {GeoArb} toronto?
[09:36] {patience} y
[09:36] {Threei} AIG trades 6.70 - 6.80 peter
[09:36] {peterg} right tks
[09:36] {GeoArb} for the canadians
[09:36] {GeoArb} http://www.ft.com/cms/s/0/23b53878-762b-11dd-99ce-0000779fd18c.html?nclick_check=1
[09:38] {Threei} on top of everything else, it looks like streetwide quote/charting problems
[09:38] {GeoArb} yeah
[09:39] {GeoArb} esignal not refreshing bac or aig
[09:39] {GeoArb} got it now
[09:39] {GeoArb} too much volume through pipes
[09:39] {Threei} yeah
[09:39] {GeoArb} my broker has a message
[09:40] {GeoArb} "investigating NYSE TS latency"
[09:40] {Threei} Short Setup: C half lot .65
[09:40] {Threei} if stays under .80
[09:41] {dino} leh at .30 aig 6
[09:41] {fernp} C and AIG no available here
[09:41] {GeoArb} yup same here
[09:41] {GeoArb} also there was a news last night
[09:42] {Threei} both are with laser
[09:42] {GeoArb} SE is adding tougher sorting rules
[09:42] {GeoArb} SEC
[09:42] {GeoArb} nice
[09:42] {Threei} C invalidated anyway
[09:42] {Threei} and AIG is probably bounce time
[09:43] {Threei} now LEH, that is NOT available, lol
[09:44] {Threei} market spike for some reason
[09:44] {Threei} NQ is down just 33 points
[09:44] {Threei} nothing in terms of recent volatility
[09:45] {Threei} all trades are half lot for now
[09:45] {Threei} so I don't type it each time
[09:45] {esemde} market feels a bit saturated to the down side i think
[09:45] {GeoArb} seems like capital protection day today
[09:46] {GeoArb} might even loose money due to excessive volume disconnects
[09:46] {dino} so far just another normal dji 300 pt range
[09:46] {Threei} Long Setup: KLAC over .20
[09:46] {Threei} stop under 33
[09:47] {patience} would not surprise me to lose 11 on the dow today dino
[09:47] {GeoArb} wow esignal not refreshing KLAC.... dunno why i pay
[09:48] {patience} i keep getting disconnects on my broker geo, just the volume today
[09:48] {Threei} what a bounce AIG
[09:48] {GeoArb} thanks patience
[09:48] {esemde} ZION
[09:48] {Threei} laser looks OK
[09:48] {GeoArb} laser and their platinum nasdaq cert
[09:48] {GeoArb} mutter mutter
[09:49] {esemde} looking for 37.60 area pullback
[09:50] {esemde} rats...could not grab it....
[09:51] {esemde} hmmm it's gotten away from me
[09:51] {Threei} no wrky KLAC
[09:51] {fernp} stopped
[09:54] {GeoArb} wfc
[09:54] {GeoArb} skf
[09:54] {GeoArb} sorry
[09:56] {dino} relax guys
[09:56] {Threei} Long Setup: UAUA .81
[09:56] {Threei} stop under .60
[10:02] {Threei} stop to under .70
[10:03] {Onix} in UAUA just with 100 shares @ 11.81
[10:03] {dino} v sm l gs 144.90
[10:03] {Threei} stop to .75
[10:03] {Threei} and feel free to take scalp anywhere above .90
[10:04] {Threei} wb
[10:06] {GeoArb} off to drop kids to school wife out of town.... TY for UAUA vad
[10:07] {Threei} almost 1:1
[10:07] {Threei} welcome
[10:07] {Threei} for all practical purposes, it is 1:1
[10:07] {Onix} ty Vad for UAUA
[10:07] {Threei} :)
[10:07] {Threei} and over
[10:07] {Threei} out
[10:07] {GeoArb} darnnnnn
[10:07] {GeoArb} bye
[10:07] {Threei} OK... between KLAC and UAUA, we are even
[10:07] {fernp} TY Vad
[10:08] {Threei} which is more than any investor can say this morning
[10:08] {Threei} fern :)
[10:08] {Threei} going to be careful like this for a while
[10:09] {Threei} all these bounced financials look like they wait for some other show to drop
[10:09] {Threei} quite reluctant buying
[10:09] {peterg} I'm exhausted after surfing aig
[10:09] {patience} waiting for margin calls to kick in
[10:09] {peterg} and klac and uaua thks
[10:09] {Threei} you traded it peter?
[10:09] {peterg} to good effect
[10:09] {Threei} AIG I mean
[10:09] {peterg} yep
[10:09] {Threei} gutsy
[10:09] {peterg} get the rythm. go with the flow
[10:10] {Threei} :)
[10:10] {peterg} bail frequently
[10:10] {peterg} tks
[10:10] {Threei} I am unclear on margin calls issue
[10:10] {Threei} it used to be that portfolios dropping under marhging requirements had 3 days to settle
[10:11] {Threei} (and have you ever seen margin spelled like that?)
[10:11] {peterg} like butter, only marhgerine
[10:11] {Threei} nowadays it seems like they have to liquidate same day or what?
[10:11] {Threei} lol, true
[10:11] {patience} normally brokerages give you some warning you are over margined and have to bring your account up, wouldn't surprise me to see them just sell stock without notice
[10:12] {Threei} yeah, rules are pretty uch out of the windows in times like this
[10:12] {patience} i am waiting to buy gold options here....
[10:12] {Threei} wow UAUA
[10:12] {Threei} 1:2... who would have thought
[10:13] {Threei} Long Setup: RIMM near 100
[10:14] {Threei} in .80
[10:14] {Threei} stop under .50
[10:17] {Threei} out .15
[10:17] {Threei} +.35
[10:18] {dino} gs stopped
[10:19] {Threei} Short Setup: C .89
[10:19] {Threei} stop over 17
[10:19] {magoo} in sh c
[10:25] {magoo} covered .65 TY vad
[10:25] {Threei} out
[10:25] {Threei} .58
[10:25] {Onix} covered @ .66 ty Vad
[10:25] {Threei} welcome guys
[10:26] {magoo} easy button vad
[10:26] {Threei} yup
[10:26] {dino} ttwo sm l .00, stop lod
[10:26] {Threei} nice and easy
[10:26] {Threei} aside from one 6 or 7 bounce in the beginning, just slid down wioth no attempt to resist
[10:27] {Threei} BAC CEO: US ECONOMY MAY BEGIN ITS RECOVERY IN 2H09 - CONF CALL
[10:27] {Threei} he sounds as though he permits economy to begin recovery
[10:28] {Threei} now, don't get cocky after couple wins and start jumping on them all
[10:29] {Threei} it's being picky and careful that worked, let's stay this way
[10:29] {Threei} the biggest problem with this market is:
[10:29] {Threei} it's extremely sensitive to news headlines, and there is no luck of those
[10:30] {Threei} you get in, new news item or rumor surfaces, stock moves in a matter of seconds
[10:35] {Threei} tough one:
[10:35] {Threei} long AIG .91 here with stop under .70
[10:35] {Threei} no need to say, half lot
[10:38] {dino} ttwo to .40
[10:41] {dino} out ttwo +.40
[10:42] {Threei} invalidated
[10:42] {Threei} maybe a bounce candidate off .50
[10:42] {Threei} or under
[10:43] {Threei} nice one dino
[10:46] {dino} ty
[10:47] {Threei} Short Setup: BAC .30 if stays under .50
[10:49] {Onix} in BAC @ .30
[10:50] {Threei} stopped
[10:50] {Onix} stopped ..51
[10:52] {dino} wow, tried to short skf, cyber said none avail.
[10:52] {dino} 1st time that has happened
[10:52] {Threei} still available here
[10:54] {Threei} WB HEARING UPGRADED TO MARKET PERFORM RATING AT MORGAN KEEGAN (TIMING UNCERTAIN)
[10:54] {Threei} anyone ventured AIG long off .50?
[10:54] {dino} ttwo l .38, stop .08
[10:54] {Onix} sorry, no
[10:54] {Threei} wasn't easy by any means
[10:55] {Threei} AIG CREDIT SUISSE CUTS PRICE TARGET TO $6 FROM $22 (TIMING UNCERTAIN)
[10:55] {Threei} OK... who thinks we close green?
[10:56] {Onix} crazy but looks probale
[10:56] {dino} out ttwo .50, +.12
[10:56] {Onix} possible
[10:56] {Threei} I mean... look at numbers
[10:56] {Threei} COMP is down 19
[10:56] {Threei} nothing in terms of NASDAQ movement
[10:57] {Threei} DJI is down 181
[10:57] {Threei} after being down 440
[10:57] {dino} stranger things have happened
[10:57] {Threei} my point exactly
[10:57] {patience} defies logic, but market manipulation is alive and well
[10:58] {dino} wynn green
[10:58] {magoo} might have been better if we just tanked 800 points vad
[10:58] {magoo} rinse all weak hands
[10:58] {magoo} get real bottomn
[10:59] {dino} ahh, c'mon patience, the markets are "like, totally efficeint"
[10:59] {dino} just ask any banker friend
[10:59] {patience} laughing, you just have laugh and go with the flow
[11:00] {dino} indeed, :)
[11:00] {dino} cme wants green
[11:03] {Threei} look at SOLF
[11:03] {Threei} is it a new leader for solars or what
[11:04] {dino} the most pain would be to take them back down
[11:04] {dino} heh .18
[11:04] {Threei} here we go
[11:04] {Threei} AIG
[11:04] {Threei} NY GOVERNER EXPECTED TO MAKE A STATEMENT IN 1 HOUR
[11:09] {Threei} so far, we are 3 for 5
[11:09] {magoo} but are we up?
[11:10] {Threei} yes
[11:10] {Threei} if you skipped RIMM trade, about even
[11:10] {magoo} we are?or u are?
[11:10] {Threei} I am talking about calls magoo
[11:10] {Threei} you?
[11:11] {magoo} i am up..i took trimm, rode it to .44 area
[11:11] {Threei} wtg
[11:11] {dino} nasty
[11:11] {magoo} just trying to get a slap here
[11:11] {Threei} nope
[11:11] {Threei} you like it too much
[11:12] {Threei} AIG lost support
[11:12] {Threei} with that speech soon, I am not confident in any read on it
[11:13] {Threei} on second thought, why am I depriving you of pleasure...
06[11:13] * Threei slaps magoo around a bit with a large trout
[11:14] {magoo} and mine:)
[11:15] {Threei} if you feel adnventorous
[11:15] {Threei} .39 short AIG with stop above .50
[11:16] {dino} whats' your prediction mr. t? pain
[11:16] {Threei} lol
[11:23] {dino} aacc l .35, stop lod
[11:24] {Threei} WSJ REPORTS THAT SEVERAL JAPANESE BANKS ARE AMONG LEHMAN'S TOP LENDERS
[11:24] {Threei} and their market is closed for holidays
[11:24] {Threei} feel free to cover AIG who took it
[11:25] {Threei} it looks on a verge of imploding
[11:25] {Threei} but not taking chance with that speech ahead
[11:28] {Threei} IAEA: IRAN INTENDS TO CONTINUE ENRICHING URANIUM
[11:28] {dino} like there was a doubt
[11:29] {dino} ge wierd
[11:29] {Threei} BAC CEO: WM IS NOT A VIABLE ACQUISITION TARGET FOR BOA DUE TO REGIONAL SIMILIARITIES - CNBC COMMENTS
[11:29] {Threei} {BAC}
[11:30] {Chaeron} I think I said something last week about LEH and penny stock in the same sentence... Good morning all
[11:30] {Threei} Chaeron :)
[11:30] {Threei} AIG collapse
[11:31] {dino} gm oracle chaeron
[11:31] {Threei} AIG trades like recurring nightmare
[11:34] {Threei} Short Setup: WB 12 break
[11:34] {Threei} stop above 12.15
[11:36] {Threei} 1:1, half out
[11:37] {Threei} stop to 12.06
[11:39] {Threei} maybe just a shake but no point in checking it with your account
[11:41] {Threei} AIG looks like aiming for 5
[11:43] {Threei} WB was a shakeout
[11:43] {Threei} oh well
[11:44] {Threei} why did we ever cover C?
[11:45] {Threei} 5 AIG
[11:45] {Threei} and under
[11:45] {Threei} LEH all over again
[11:45] {dino} he most pain would be to take them back down
[11:46] {dino} [11:04] {dino} the most pain would be to take them back down
[11:46] {Chaeron} Thanks for WB Threei... used the shake as entry and got short at .98 and covered at .48 +$0.50
[11:46] {magoo} u dog nice
[11:46] {Threei} wow
[11:46] {Threei} good one
[11:46] {Threei} wtg
[11:46] {Chaeron} thanks guys... next?
[11:47] {Threei} if you were told a year ago that this Septmeber there wouldn't be anymore Bear Stearns, Lehman Brothers, Merril Lynch... would you ever believe it?
[11:48] {Chaeron} woulda laffed
[11:48] {patience} that's when i believed in a free market economy
[11:49] {Threei} AIG
[11:49] {Threei} NEW YORK INSURANCE CHIEF DINALLO NOTES HE WILL LEAD EFFORTS TO HELP BOND INSURERS
[11:50] {dino} rally
[11:50] {magoo} there won't be AIG in next few minutes
[11:50] {Threei} {AIG} ah thank you, but meanwhile let drop a bit more
[11:52] {Threei} WB cascading
[11:52] {dino} micc sm l .10, leap sm l .15
[11:53] {Threei} what's ABK doing holding up there?
[11:54] {Threei} everyone just forgot about it or it really has some reason for relative strenght
[11:54] {Threei} 'cause if not... as soon as traders remember of one finnie unsold yet...
[11:55] {Threei} well, .88 short with stop above 7 looks low risk enough
[11:56] {dino} syut ouch
[11:56] {Threei} unless anyone has an idea how ABK is different from any other financial
[11:56] {magoo} i didnt even know it was a financial
[11:57] {Threei} lol
[11:58] {Threei} oops
[11:58] {Threei} not in short list
[11:58] {Threei} sh*t
[11:58] {Threei} look at AIG
[11:58] {Threei} why did we ever cover?
[11:59] {magoo} wb could see 7 today
[12:00] {Threei} on what?
[12:00] {magoo} if IF mkt starts rolling over hard
[12:00] {magoo} we are down 300 again
[12:00] {Threei} I mean 7 on what stock?
[12:00] {magoo} panic
[12:00] {magoo} WB
[12:03] {magoo} mkt spikearolla
[12:03] {Threei} market pop
[12:03] {Threei} LEH
[12:03] {Threei} WSJ SAYS BARCLAYS IS STILL INTERESTED IN BROKER-DEALER UNIT
[12:04] {dino} sm ge l .75
[12:05] {dino} v sm gs l .00, wide
[12:07] {Threei} MER breakdown
[12:07] {Threei} zi don't get it
[12:07] {Threei} BAC isn't dropping
[12:08] {Threei} maybe a word leaking somewhere that BAC shareholders are not likely to approve deal
[12:08] {magoo} LEH is .21 cents
[12:09] {Threei} if so, MER is LEH
[12:09] {Threei} actually with that LEH price, BAC could demand two for one deal
[12:09] {Threei} I'll take MER if you throw LEH in for free
[12:11] {dino} still no skf cyber
[12:12] {Threei} NEW YORK GOV PATTERSON: AIG IS STILL FINANCIALLY SOUND, DEEPLY CONCERNED ABOUT FINANCIAL TURMOIL
[12:12] {Threei} {XLF}
[12:14] {Threei} NEW YORK GOV PATTERSON: AUTHORIZING ACCESS TO $20B IN STATE FUNDS FOR AIG,
[12:19] {Threei} impressive bounce
[12:21] {Threei} REPORTEDLY WARREN BUFFETT'S BERKSHIRE HATHAWAY IS HOLDING TALKS TO BUY AIG
[12:21] {patience} very handy to be able to trot out warren buffett rumour every time a firm is failing
[12:21] {Threei} well... how do you trade this barrage of news? :)
[12:21] {patience} very carefully
[12:21] {patience} :)
[12:21] {patience} i am a smart ass today
[12:22] {Threei} I coluld think of worse thing to be... dumb ass for instance :)
06[12:22] * magoo slaps patience around a bit with a large trout
[12:22] {patience} ty magoo :)
[12:22] {dino} out leap .57, +.42
[12:22] {Chaeron} nice dino
[12:22] {Threei} cool one
[12:23] {dino} out ge .25, +.50
[12:23] {Chaeron} now you're just showing off
[12:23] {Threei} no kidding... like that violinist with his left hand
[12:23] {magoo} im having quote issues..anyone else with laser?
[12:23] {dino} out gs .20, +1.20
[12:24] {Threei} looks OK here mags
[12:24] {Threei} what stock?
[12:24] {dino} ty guys
[12:24] {magoo} server please?
[12:24] {Threei} 4
[12:24] {magoo} ty
[12:28] {Threei} looking at WB 1 min,
[12:28] {Threei} if it stabilizes here, claws its way back to 11.50 slowly, and breaks, should be long
[12:30] {Threei} or just grab it here with stop under .10
[12:30] {Threei} very hard to tell
[12:30] {Threei} gotta play them by feel of their rythm rather than by technical signals
[12:31] {Threei} if you took it, look to sell half on approach to .50
[12:31] {Threei} and hold second half for jump after break
[12:32] {Threei} or take scalp and be happy
[12:33] {Threei} AIG new round of happiness
[12:44] {Threei} REPORTEDLY THE US HOUSE WILL BE VOTING ON AN ADDITIONAL ECONOMIC STIMULUS PACKAGE
[12:44] {Threei} hmmm
[12:46] {Threei} US TREASURY DECLINES COMMENT ON AIG
[12:48] {Threei} AIG
[12:48] {Threei} FED HAS HIRED MORGAN STANLEY TO NEGOTIATE A BRIDGE LOAN, BUFFETT NO LONGER IN TALKS WITH COMPANY - CNBC'S FABER
[12:49] {Threei} Short Setup: CIT .34 if stays under .50
[12:53] {dino} thinking bac is picking up alot of liabilities, countywide and now mer
[12:56] {Threei} GS
[12:56] {Threei} HEARING SHARES CUT TO NEUTRAL FROM ACCUMULATE AT BUCKINGHAM
[12:58] {dino} bit late
[12:59] {GeoArb} did i miss anything?
[13:00] {Threei} wow
[13:00] {Threei} lol
[13:00] {Threei} two ends of the world
[13:00] {Threei} three salvations
[13:00] {GeoArb} well i was stuck in la traffic hehehe
[13:00] {Threei} ah
[13:04] {Threei} so AIG
[13:04] {Threei} to be salvaged from ruins, or famous last gasp
[13:08] {GeoArb} cit invalid?
[13:08] {Threei} yeah
[13:11] {dino} leap sm l .90
[13:11] {dino} brb
[13:12] {Threei} BAC looks ill
[13:14] {Threei} .74 short if stays below .90
[13:15] {Threei} starts looking like in preparation for serious cratering
[13:20] {magoo} in..u?
[13:21] {Threei} why wouldn't I?
[13:22] {magoo} sheesh..why so sensitiver
[13:22] {Threei} sensitivity is my middle name
[13:23] {Threei} what props AIG again
[13:23] {peterg} the shadow knows...but isn't telling
06[13:23] * magoo slaps laserdave1 around a bit with a large trout
[13:23] {dino} phly
[13:24] {dino} leap stopped -.32
06[13:24] * Threei slaps laserdave1 around a bit with a large trout
06[13:24] * Chaeron slaps laserdave1 around a bit with a large trout
[13:25] {laserdave1} Laserdave1 slaps Aif around a bit with a large trout
[13:25] {laserdave1} AIG that is
[13:25] {laserdave1} something wrong with that thing
[13:25] {Threei} something?
[13:25] {Threei} try everyting
[13:26] {dino} leap rinse
[13:26] {Threei} 1:1 is easy BAC... but feels like a lot more in cards... unless news comes
[13:27] {Threei} SEC'S COX: THE ECONOMY IS "STRONGER" AFTER THE EVENTS OF THIS WEEKEND
[13:27] {laserdave1} haha ya real strong economy
[13:27] {laserdave1} lol
[13:27] {laserdave1} never been better
[13:27] {Threei} covered half BAC .32
[13:27] {laserdave1} how could that guy say that with a straight face
[13:28] {Threei} +.42
[13:28] {laserdave1} nice 1
[13:28] {Threei} trying to cover second half around 27
[13:28] {Threei} stop to .51
[13:28] {magoo} mkt may be losing it here
[13:28] {Chaeron} +0.43 here :P ( in .71, covered .28 )
[13:29] {Chaeron} many thanks Threei
[13:29] {Threei} welcome sir
[13:30] {magoo} out here .32 TY cranky
06[13:30] * Threei slaps magoo around a bit with a large trout
[13:30] {Threei} welcome
[13:30] {magoo} .76 out .32
[13:31] {magoo} lil help?how much i make?
[13:31] {Chaeron} + .42
[13:31] {Threei} 44 cents per share
[13:31] {Chaeron} oops }43
[13:31] {magoo} ty
[13:31] {Chaeron} damn
[13:31] {Threei} lol chaeron
[13:31] {Chaeron} heheheh
[13:32] {Threei} look GS
[13:32] {magoo} wow..fell out of chair
[13:33] {Threei} next one to go under $1?? :)
[13:34] {magoo} i wish
[13:35] {magoo} 13:29] {magoo} mkt may be losing it here
[13:38] {magoo} hang on
[13:38] {magoo} fasten seat belt
[13:39] {patience} tin hat time magoo?
[13:39] {GeoArb} dave dcc pls
[13:41] {patience} tough to get a laugh in the room today, oh well
[13:41] {magoo} sorry hooked a big fish here
[13:41] {GeoArb} with a tin hat????
06[13:42] * GeoArb slaps laserdave1 around a bit with a large trout
[13:42] {Threei} BAC looks to lose 27 soon
[13:42] {magoo} wait fcor bounce entry?
[13:43] {Threei} .20 closest resistance
[13:43] {Threei} hard to tell if it's capable of any bounce
[13:43] {magoo} gotta post this
[13:43] {magoo} in sh 100 sh bidu 282.31..out 278.19
[13:43] {Threei} market bouncing, helping it
[13:43] {Threei} nice mags!
[13:43] {magoo} thats my fish
[13:43] {GeoArb} sheeeesh
[13:43] {Threei} wtg
[13:43] {magoo} less than few minutes
[13:44] {GeoArb} dave?
[13:44] {Threei} TREASURY SEC PAULSON: MARKETS ARE WORKING THROUGH A DIFFICULT PERIOD
[13:44] {Threei} you don't say
[13:44] {GeoArb} no kidding
[13:44] {magoo} insightful
[13:45] {Threei} in BAC short, stop .41
[13:48] {Threei} die already
[13:49] {Threei} TREASURY SEC PAULSON: MARKETS ARE WORKING THROUGH A DIFFICULT PERIOD, AMERICANS CAN BE CONFIDENT IN THE SOUNDNESS AND RESILENCE OF FINANCIAL MARKETS
[13:49] {Threei} - says he'd like to see more of financial institutions coming together to support the market, as seen this weekend
[13:49] {Threei} - says does not take lightly using taxpayer money, but do not necessarily "read it as no more" use of taxpayer money for future bailouts.
[13:49] {Threei} - our banking industry is a safe and sound one.
[13:49] {Threei} yeah?
[13:51] {Threei} out of all safe and sound industries I've ever seen, this one strikes me as THE safest
[13:52] {Threei} GS is about to lose 135
[13:52] {dino} s breaking
[13:53] {Threei} I mean 134
[13:55] {Threei} housing will start bottoming in months rather than in years
[13:56] {Threei} (paulson)
[13:56] {Threei} I mean 133
[13:56] {magoo} wish we shorted that lol
[13:56] {Threei} I mean 132
[13:57] {Threei} you got the drift, number them yourself, lol
[13:57] {magoo} 139
[13:58] {GeoArb} hmmm so for those who dont use laser.... were you able to short bac?
[14:00] {dino} leap l sm .57
[14:01] {Threei} FED IS REPORTEDLY SEEKING A CHANGE IN ACCOUNTING PROCEDURE FOR GOODWILL
[14:01] {Threei} what'sa that about?
[14:02] {dino} they are going to have to suspend mark to market imo
[14:03] {dino} alot of this junk will be worth somethiong over time
[14:05] {Threei} NYC MAYOR BLOOMBERG: AIG WILL SURVIVE
06[14:18] * Threei slaps laserdave1 around a bit with a large trout
06[14:20] * Chaeron slaps laserdave1 around a bit with a large trout
06[14:20] * magoo slaps laserdave1 around a bit with a large trout
[14:20] {GeoArb} thanks
06[14:20] * GeoArb slaps laserdave1 around a bit with a large trout
[14:20] {GeoArb} dcc dave?
[14:20] {Threei} AIG off two bucks from the top
[14:21] {Threei} swings on these stocks are amazing
[14:21] {magoo} bac worth another try?
[14:22] {Threei} hard to tell
[14:22] {Threei} no rhytm to it right now
[14:32] {dino} v sm l cme .60
[14:35] {magoo} vad..what u stalkin?
[14:39] {Threei} just looking
[14:43] {dino} going for -400
[14:47] {Threei} if we end up like this, more selling will be in cards over next days
[14:47] {Threei} this doesn't look like real washout
[14:48] {magoo} to orderly
[14:48] {Threei} yup
[14:48] {Chaeron} so we'll have more great days ahead this week? :))
[14:48] {Threei} and no real relief surge
[14:48] {Threei} lol, chaeron is loving it
[14:48] {Chaeron} hell yeah... I hate the giants... always have... you know that
[14:48] {Threei} when real capitulation comes, next thing is this absolutely crazy reckless buying
[14:49] {Threei} there is nothing of that kind today
[14:49] {magoo} hey..u hate my team ny giants?
[14:49] {Chaeron} like magoo and AAPL/RIMM?
[14:49] {Threei} buying is restrained, labored, tortureds
[14:50] {magoo} i like when vad gets reading RIMM with me
[14:50] {Threei} I looked over my RIMM calls/trades once
[14:50] {Threei} was like 2/3
[14:52] {magoo} remember a time when all we did was RIMM for awhile
[14:53] {magoo} thats when i giot into it to speak
[14:53] {Threei} lol, nothing else moved in those days
[14:53] {Threei} and to compensate it, RIMM and AAPL suddenly became so obeying
[14:53] {Threei} readable like open book
[14:53] {magoo} yes
[14:53] {magoo} comic book
[14:53] {Threei} not always that tame, unfortunately
[14:54] {dino} eqix sm l .80
[14:54] {Threei} but heck... nothing stays the same
[14:54] {magoo} hell..these financials make rimm look docile
[14:54] {Threei} we used to play solar sector day after day, almost exlusively
[14:54] {magoo} we did {he he}
[14:54] {Threei} then they lost their luster
[14:55] {Threei} lustre?
[14:55] {Threei} then UAUA came... and finnies
[14:55] {Threei} finnies to be fair were rarely easy
[14:56] {Threei} too many news items changing things on the fly
[14:56] {magoo} last hour here gonna be interesting
[14:56] {magoo} tank or buy
[14:56] {magoo} i dunno
[14:56] {Threei} tank, imo
[14:56] {magoo} and i know everything
[14:57] {magoo} i should call my wife
[14:57] {magoo} she thinks she knows everything he he
[14:57] {magoo} that was mean..someone slap me
[14:58] {Threei} that's your punishment
[14:58] {Threei} no one slaps you
[14:59] {magoo} boy..in old days would get slapped so many times would get disconnected from room
[15:00] {laserdave1} geo dcc when u see this please
[15:01] {magoo} sh bac here .51
[15:01] {magoo} small 300
[15:01] {Threei} well... if I am right and market drops,
[15:01] {laserdave1} geo dcc when u see this
[15:01] {Threei} WB loss of 11 should lauinch new downthrust
[15:01] {Threei} BAC good entry
[15:02] {Threei} stop just about 10 cents
[15:02] {dino} eqix stopped -.33
[15:02] {magoo} looking for loss 27
[15:03] {Threei} By adding Merrill's 16,000+ financial advisers to its own staff, the deal would make BAC the largest brokerage in the world with more than 20,000 advisers and $2.5T in client assets under management. It would also be the number one underwriter of global high-yield debt, the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions. It also gets Merrill's 50% stake in Blackrock, which has $1. 4T in assets under management. BAC CEO Lewis said the Merrill deal will be mildly dilutive to EPS in 2009 and that BAC will hit breakeven on the deal in 2010. Before the open this morning, S&P lower its credit rating on BAC to AA- from AA, putting the bank on watch negative. Moody's put the bank's ratings on review for a possible downgrade.
[15:04] {magoo} sh 100 sh bidu .51
[15:04] {Chaeron} so they get 50 cents?
[15:04] {magoo} 276.51
[15:05] {dino} #1 underwriter of high yield debt.....drexel
[15:06] {dino} memories
[15:06] {magoo} 200 dollar stop loss on bidu is plan
[15:07] {magoo} looking for it to lose 270
[15:07] {magoo} will require mkt tank off vad call
[15:07] {dino} theres the -400
[15:08] {Threei} tried GS first time in a long long while... shorted 133.40
[15:08] {magoo} i wish ud dcc me those
[15:08] {Threei} covered half for +1
[15:08] {magoo} its my style
[15:08] {Threei} gotta try a few times myslef first
[15:08] {Threei} to make sure I have more or less reliable read
[15:10] {Threei} out
[15:10] {Threei} +2.10
[15:10] {magoo} out bidu 273.236 common sense took over
[15:10] {magoo} + .3.5 points i think
[15:10] {Threei} it's fun
[15:10] {Threei} lol
[15:11] {magoo} same type trade u did
[15:11] {dino} l ge .75
[15:11] {magoo} [15:04] {magoo} sh 100 sh bidu .51
[15:11] {magoo} [15:05] {magoo} 276.51
[15:12] {magoo} still sh BAC
[15:13] {magoo} [15:01] {magoo} sh bac here .51
[15:13] {magoo} 15:02] {magoo} looking for loss 27
[15:14] {magoo} waiting .91
[15:15] {Threei} C nears 15
[15:15] {Threei} maarket dumps, C is dead in the water
[15:16] {magoo} out .95
[15:16] {magoo} too close
[15:16] {Threei} argh GS
[15:16] {Threei} why did I bother covering
[15:16] {magoo} u like ny BAC}?
[15:16] {Threei} this thing is on the same death spiral as all of them
[15:16] {Threei} BAC's nice
[15:17] {Threei} lost 27
[15:17] {magoo} yeah i covered 26.95
[15:17] {Threei} Bear Sterns low for C is 14
[15:18] {Threei} what is it still doing that high?
[15:19] {Threei} MER
[15:19] {Threei} SHAREHOLDER LAWSUIT FILED IN NY SAYS BUYOUT TERMS ARE "GROSSLY INADEQUATE"
[15:19] {magoo} i dunno..but BAC wont be able to buy anyone
[15:19] {laserdave1} Geo dcc
[15:20] {Threei} MER shareholders are crazy
[15:21] {magoo} vads room traders are crazier
[15:21] {Threei} it wouyld be well its merry to meet LEH if not for BAC
[15:21] {dino} it's not the shareholders it's the lawyers
[15:21] {Threei} yeah, I guess
[15:22] {Threei} "hey, may be there is some skin in it, whaat do we lose"
[15:23] {magoo} i still cant believe u guys didnt slap the hex out of me earlier
[15:23] {dino} shareholdrs don't even know yet...most are mutual funds
[15:25] {Threei} C dump
[15:25] {dino} 10964 coming
[15:30] {Threei} FDIC'S BAIR: MORE THAN 98% OF THE US BANKING INDUSTRY IS WELL CAPITALIZED
[15:31] {Threei} and that's exactly why one prominent bank after another goes belly up
[15:31] {Threei} maybe they meant "more than 98% of the US bankers"?
[15:32] {Threei} WSJ: US GOVT IS REPORTEDLY ASKING GS AND JPM TO LEAD $70-75B LENDING FACILITY FOR AIG
[15:32] {Threei} {JPM GS}
[15:32] {peterg} AIG for sudden +.21
[15:33] {peterg} help me before I get killed
[15:33] {Threei} sit on your hands peter
[15:33] {Threei} haviong a good day I see?
[15:33] {peterg} good plan; yes tks
[15:33] {Threei} don't spoil it
[15:33] {peterg} wife shares sentiments
[15:34] {Threei} one bad ttrade in this environment can wipe out whole day
[15:34] {Threei} and just one sudden headline separates good trade from turning bad
[15:34] {Threei} you buy AIG{ next thing you know they say GS and JPM deny
[15:35] {Threei} AIG drops 50 cents faster than you can say mama
[15:35] {peterg} uncle
[15:36] {Threei} it's a great feeling to finish the day a winner, especially on a day when the world is bleding
[15:36] {Threei} preserve it
[15:37] {Threei} this kind of days show you why you became a day trader
[15:37] {Threei} umm... speaking of AIG dropping 50 cents
[15:37] {peterg} vad, you so philosophical
[15:37] {Threei} see this?
[15:37] {peterg} o yeah
[15:37] {Threei} me? philosophical?
[15:38] {Threei} oh well... Ive been called worse
[15:38] {peterg} heating up aig
[15:40] {peterg} cant read it at moment; going to sit on hands and do some day job
[15:43] {dino} out ge .05 +.30
[15:46] {dino} out leap -.19
[15:50] {Threei} look at ESLR daily
[15:50] {Threei} what a slughter
[15:50] {Threei} slaughter too
[15:51] {Threei} AIG drop of that same kind I decsibed above
[15:53] {dino} broke july lows dji
[15:53] {Threei} selloff is not over
[15:53] {Threei} more downside in coming daysd
[15:54] {Threei} with all our capital preservation mode today, we did fairly well
[15:54] {Threei} nice day with a few quite sizeabvkle gains
[15:54] {Threei} and a few smaller ones
[15:54] {Threei} and a few small losses
[15:54] {GeoArb} I am so pissed I couldnt short BAC
[15:54] {GeoArb} guess who i have been dccing
[15:55] {Threei} ESLR
[15:55] {Threei} COMMENTS ON LEHMAN BROTHER'S TRANSACTIONS
[15:55] {Threei} huh?
[15:55] {Threei} what does ESLR have to do with LEH?
[15:55] {Threei} whoe Geo?
[15:55] {GeoArb} dave
[15:55] {Threei} ?
[15:56] {Threei} I didn't know you were with Laser
[15:56] {GeoArb} am trying now
[15:56] {Threei} ah, here it is:
[15:56] {Threei} COMMENTS ON LEHMAN BROTHER'S TRANSACTIONS
[15:56] {Threei} - Lehman Brothers Inc.was the lead underwriter for the sale of the $373.75M in Senior Notes. Net proceeds to the Company from the offering, including the cost of a capped call transaction, were approximately $325.8M, all of which the Company received at the closing. None of these funds are on deposit with Lehman or any of its subsidiaries.
[15:56] {GeoArb} wasnt before
[15:59] {Threei} ok guys, thank you all,
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {peterg} thks all c u tomorrow
[16:02] {magoo} ty vad