Sep 19 2008

Session Time: Fri Sep 19 00:00:00 2008

[08:19] {magoo} morning
[08:20] {tomg} morning
[08:21] {magoo} tom
[08:21] {tomg} u able to log in to laser magoo?
[08:21] {magoo} no, was gonna ask u
[08:22] {Threei} morning
[08:22] {tomg} nope
[08:22] {Threei} called dave yet?
[08:22] {tomg} no
[08:22] {magoo} morn vad...no, just got in
[08:22] {magoo} can u get in vad?
[08:22] {Threei} please do mags, I don't want to wake up family by phone talk
[08:22] {Threei} no
[08:23] {Threei} massive gap up
[08:24] {Threei} just how timely was yesterday's warning not to have any shorts overnights
[08:24] {magoo} left message on his cell now vad...do u have home phone number? dcc me ill call that
[08:33] {Threei} tom, should be up in 10 min
[08:34] {Threei} they need to incorporate this SEC order in software
[08:34] {Threei} it came out in the middle of the night
[08:35] {magoo} vad..dcc again
[08:45] {Threei} so... LEH didn't make it by just 1 week
[08:46] {Onix} gm all
[08:46] {Threei} Onix :)
[08:50] {Threei} read the message when you log in to Laser
[08:50] {Threei} explains the new shorting rules
[08:52] {tomg} i'm in now vad
[08:52] {Threei} yup
[08:52] {magoo} goitta reboot brb
[08:53] {Threei} DJI is up 532
[08:53] {Threei} NQ is up 75
[08:53] {Threei} lol
[08:54] {Threei} can you imagine holding any short over THIS night?
[08:57] {Threei} SKF is decimated
[08:57] {Threei} now, this would be a good short, lol
[08:58] {peterg} morning
[08:58] {Threei} peter :)
[09:05] {magoo} BACK
[09:06] {dino} gm all
[09:09] {Threei} dino :)
[09:10] {Threei} PRESIDENT BUSH TO MAKE STATEMENT ON ECONOMY AT 10:45AM ET
[09:11] {dino} it's b.s tho. think about it, all of the major banks/investment houses have propriety trading divisions, which short stocks.
[09:11] {dino} how do you think mer, gs, leh, etc made money
[09:11] {Threei} and hedge funds
[09:12] {dino} of course, good for us, but not when the public figures it out
[09:13] {fernp} Good morning all
[09:13] {Threei} fern :)
[09:13] {hawkfan4} gm all
[09:13] {Threei} hawk :)
[09:14] {magoo} i just to test tried to sh gs...not avail
[09:14] {dino} my daily rant, sorry guys
[09:14] {pita} gm all
[09:14] {dino} patience, hmmm +400 and another +400, what happens around 11590 and 11790?
[09:15] {Threei} pita :)
[09:16] {pita} we are saved! NOT!
[09:16] {Threei} but shorts are murdered
[09:17] {magoo} if we were down like 800 points this week..but up 400 yester and 500 tioday..we are above where crisis started
[09:18] {Threei} how bitter for LEH
[09:19] {Threei} imagine, to drown in just 2 ft from the shore
[09:19] {Threei} mama... just looked at WB
[09:20] {esemde} good morning....can't hook up to my trading platform.....
[09:20] {Threei} hi ese
[09:21] {peterg} Vad, looks like bsns as usual on laser, no?
[09:21] {Threei} yes
[09:21] {peterg} for shorts i mean
[09:21] {Threei} oh no
[09:21] {Threei} there are 799 stocks no one can short anymore
[09:21] {Threei} until Oct 2
[09:21] {peterg} i missed the list
[09:22] {dino} gov't manipulation
[09:22] {peterg} shows how powerful we have become.
[09:22] {peterg} It was us that did this
[09:22] {Threei} here is the list:
[09:22] {Threei} http://sec.gov/rules/other/2008/34-58592.pdf
[09:24] {Threei} MERRILL COMMENTS THAT CHANCES OF A DEAL BETWEEN WB AND MS ARE RISING (TIMING UNCERTAIN)
[09:24] {Threei} {WB}
[09:24] {peterg} well that takes some of the fun right out ot it
[09:24] {peterg} IT IS THEREFORE ORDERED THAT THERE WILL BE NO MORE FUN
[09:26] {Threei} lol
[09:33] {Threei} watching AIG for bounce scalp
[09:33] {Threei} not ready yet
[09:34] {Threei} gotta lwet some profit taking axhaust itself
[09:34] {Threei} only with better spelling
[09:35] {magoo} news BIDU vad?
[09:35] {magoo} only tech down
[09:35] {Threei} no
[09:36] {Threei} very soon AIG
[09:36] {Threei} I doubt I'll be able to alert in time
[09:36] {Threei} one more leg down probably
[09:37] {Threei} watching GS for guidance
[09:37] {Threei} 3.61 if holding .50
[09:38] {Threei} although I'd prefer one more dump
[09:40] {Threei} 3.51 now if holding above .40
[09:40] {Threei} although I'd prefer one more dump
[09:41] {Threei} FED STAFF: FED WILL MOST LIKELY NOT LOSE MONEY ON NEW LENDING PROGRAM, PROGRAM ALREADY POSITIVELY AFFECTING MARKETS
[09:41] {Threei} {XLF}
[09:41] {Threei} quick dive under 3 would be perfect
[09:41] {magoo} full or half?
[09:42] {Threei} liquidity is big, full
[09:42] {Threei} just keep stops
[09:43] {judijim} WOW good morning all
[09:43] {Threei} 3.10 got defended
[09:43] {Threei} jj :)
[09:43] {dino} grrrrrrrrrrrrrrrrrrrrrr, botted out of cyber, still not in
[09:43] {Threei} ouch
[09:43] {Threei} sorry dino
[09:43] {Threei} volume must be melting chipsets
[09:44] {dino} i should be back in time to short something, obviously missing the up
[09:45] {dino} 800 pts less than 20 hours, hmmm
[09:46] {Threei} missed AIG
[09:48] {Threei} Long Setup: ABK .20 break
[09:49] {Threei} stop under .10
[09:51] {pita} cant get chart ABK - are you in?
[09:51] {Threei} yes
[09:52] {dino} look out magoo, i'm going to throw something
[09:52] {pita} in .20
[09:52] {peterg} Govt orders stop to short sales in selected stox. Henceforth all traders are to think only happy positive thoughts.
[09:53] {Threei} stopped
[09:53] {peterg} negative feeling only allowed briefly when stopped
[09:53] {Threei} lol
[09:53] {peterg} then back to happiness
[09:54] {Onix} stoppe ABK
[09:54] {dino} 'talk to chuck" on hold for 20 minutes, then, hey, server trouble, sorry.....well i feel better now, sheesh!
[09:55] {patience} dino, just got tossed out of td waterhouse, site won't connect
[09:55] {patience} missed the opening, my daughters bike was stolen overnight, drove her to work
[09:55] {dino} sucks
[09:55] {dino} i'm in
[09:56] {patience} me too just now\
[09:56] {peterg} That chuck, such a nice guy
[09:56] {esemde} questrade is down as well dino....
[09:57] {Threei} wow
[09:57] {patience} bounced out again
[09:57] {Threei} tech hell acrosss the board?
[09:57] {Threei} where is laserdave, gotta shake his hand
[09:57] {Threei} or slap him
[09:57] {Threei} SKF halted?
[09:58] {dino} ultra financial short, hmmm, can it operate
[09:58] {Threei} really
[09:58] {dino} hmmmm
[09:58] {Threei} high confusion
[09:59] {dino} banks, brokers dropping
[09:59] {patience} gold dropping
[10:00] {peterg} other shoe dropping
[10:00] {Threei} TREASURY SEC PAULSON: FRE/FNM WILL BOOST ASSET BUYS
[10:02] {Threei} FDIC'S BAIR: MORE BANKS WILL FAIL
[10:03] {Threei} hmmm... weren't we just saved?
[10:03] {dino} ctxs
[10:04] {dino} too fasy
[10:04] {magoo} my god..the uphoria didn't last 30 moins
[10:04] {magoo} mins
[10:04] {dino} ctrp
[10:05] {Threei} well, such gap was bound to bring profit taking
[10:07] {dino} lots of gaps in charts, not good
[10:07] {Threei} FED OFFICIAL: ESTIMATED MONEY MARKET MUTUAL FUNDS HOLDINGS OF GSE DISCOUNT NOTES TOTTAL $69B
[10:07] {Threei} {FNM FRE}
[10:11] {Threei} AIMA: BANS ON SHORTING RECENTLY RELEASED MAY INCREASE COST OF CAPITAL FOR BANKS
[10:13] {Threei} Paulson on TV
[10:13] {Threei} TREASURY SEC PAULSON: NEWLY ANNOUNCED BAILOUT WILL APPROACH HUNDREDS OF BILLIONS OF DOLLARS, URGES CONGRESS TO TAKE ACTION NEXT WEEK - Q&A
[10:13] {Threei} eeck
[10:15] {Threei} interesting pause in the market
[10:15] {Threei} state of total confusion
[10:16] {patience} needed the electricity to start the mint's printing presses
[10:16] {dino} atlo?
[10:16] {Threei} big gap, OK... sell, take profit, cover those ill-fated shorts, OK... now what?
[10:17] {dino} tried to short wynn 98, couldn't borrow
[10:17] {magoo} what would hurt the masses most? neg 200 today
[10:17] {dino} ugh
[10:17] {dino} magoo, nice
[10:18] {Threei} MS
[10:18] {Threei} REPORTEDLY CALLS THE GOVERNMENT PLAN A GAME CHANGER FOR FIRM, STILL PREFER TO REMAIN INDEPENDENT - CNBC
[10:24] {Threei} something strange is happening
[10:25] {Threei} like liquidity dried up
[10:25] {patience} ?
[10:25] {Threei} UAUA dropped 40 cents in one gasp,
[10:25] {Threei} and it was not a normal trading
[10:26] {Threei} then moved back up
[10:26] {Threei} and again, bids and asks kind of teleported
[10:26] {peterg} Obi Wan says, after Alderon destroyed, " there has been a change in the Force.
[10:27] {dino} lol
[10:27] {Threei} maybe with a lot of trading platform being locked liquidity is low
[10:29] {esemde} am I reading ZION right it reached 107 bucks???and is now under 50....madness
[10:29] {magoo} i just thanking god we are not in the SKF now..we were in it alot yesterday
[10:29] {dino} yes peter, and the dark side (shorts) have been hurt
[10:29] {peterg} I used to like the dark side, before I could only have happy thoughts
[10:30] {Threei} that's what I show too ese
[10:30] {dino} sm risky s dji .35
[10:30] {esemde} holly crap...shades of before 2000 vad
[10:33] {Threei} market just about stopped trading
[10:38] {dino} dia stopped .63 -.28
[10:39] {fernp} seem like market lunchtime
[10:39] {Threei} amazing isn't it
[10:39] {fernp} a bit bored
[10:41] {Threei} wasn't CEG bought at at 26, cash??
[10:42] {Threei} 09/18/08 09:09am
[10:42] {Threei} [CEG] Constellation Energy Group Inc Warren Buffet's MidAmerican Energy signs tentative deal to acquire CEG for $26.50/shr, total deal value seen at $4.7B
[10:42] {dino} cash?
[10:42] {patience} see, he gets to go shopping when there is a sale on
[10:42] {dino} moodys downgrade
[10:42] {Threei} - Deal has been approved by boards of both companies, expected to close within nine months.
[10:42] {Threei} - CEG will issue $1.0B in preferred equity to Midamerican.
[10:42] {Threei} - Follow up: seperately, EdF notes "conditions are not in place" for it to raise its stake in CEG, although it will "keep its options open in the US."
[10:42] {Threei} good for him... my question is, whby is it trading at 22
[10:45] {Threei} this freeze in trading is not what you normally see after such price shocks
[10:46] {Threei} NQ locked within 5 points for 30 min
06[10:46] * laserdave1 slaps magoo around a bit with a large trout
06[10:46] * Threei slaps laserdave1 around a bit with a large trout
06[10:46] * laserdave1 slaps Threei around a bit with a large trout
[10:46] {Threei} dave... what a call on no shorts overnight
[10:47] {Threei} probably saved bacon of many traders
[10:47] {magoo} hey DAVE
[10:47] {laserdave1} ya crazy out there
[10:47] {laserdave1} what a gap
[10:47] {laserdave1} that was so sic
[10:47] {Threei} also. must compliment you on laser's handling these conditions
[10:48] {dino} dxd l .00
[10:48] {Threei} a lot of trading platforms reported meltdown this morning
[10:48] {Threei} (US) PRESIDENT BUSH: WE MUST ACT NOW TO PROTECT THE ECONOMY FROM SERIOUS RISKS, GOVERNMENT ACTION IS ESSENTIAL TO AVOID SEVERE DISRUPTION
[10:48] {Threei} - We must address the root causes behind the instability in mortgage market, assets.
[10:48] {Threei} please do
[10:49] {Threei} address Greenspan first
[10:49] {Threei} then the system
[10:49] {Threei} I want to see that guy exposed for what he is
[10:49] {magoo} to take heat from bush failed osama hunt..bush states "we want greenspan DEAD or ALIVE"
[10:49] {laserdave1} thta Bush
[10:50] {laserdave1} he really knows his stuff
[10:50] {Threei} the most incompetent and politicized Fed chairman in history
[10:50] {Threei} - There is an urgent need for Congress to approve the mortgage puchase plan.
06[10:50] * Chaeron slaps laserdave1 around a bit with a large trout
[10:50] {magoo} yeah..but vad...u made your fortune because of him correct?
[10:50] {Chaeron} Good morning all
[10:51] {Threei} chaeron :)
[10:51] {laserdave1} ah good morning :)
[10:51] {Chaeron} :)
06[10:51] * laserdave1 slaps Chaeron around a bit with a large trout
06[10:51] * magoo slaps Chaeron around a bit with a large trout
[10:51] {Threei} how do you figure mags?
06[10:51] * magoo slaps laserdave1 around a bit with a large trout
[10:51] {Chaeron} thanks... I love you guys too
[10:51] {magoo} u tell tale of being broke..entered mkts in greeney bubble
[10:52] {magoo} bubble was historic
[10:52] {Threei} I don't believe he had much to do with tech bubble
[10:52] {magoo} u made big $$
[10:52] {Threei} and I don't believe I made it thanks to bubble itself
[10:52] {magoo} it sure helped
[10:52] {peterg} and greenspan probably doesn't have a driver except cab driver
[10:53] {Threei} people who made money in those days thanks to bubble solely, lost what they made and then some when bubble bursted
[10:53] {peterg} live by sword, die by sword
[10:53] {Threei} who did make fortune thanks to his bubble are the RE speculators with no money
[10:54] {dino} firtune favors the bold, but darkness lays one step ahead
[10:54] {Threei} at least those who exited it in time
[10:54] {dino} fortune
[10:54] {Threei} he did all he could to contain tech bubble
[10:54] {Chaeron} so I didn't miss any really great trades?
[10:54] {Threei} RE bubble is yes, his creation
[10:54] {Threei} no chaeron
[10:55] {Threei} market fell asleep
[10:55] {Threei} you missed one stop
[10:55] {magoo} vad called ZION long off 50 bux chaer, exit 99 bux
[10:55] {Threei} lol
[10:55] {Chaeron} heheheh
[10:55] {magoo} just half lot tho
[10:55] {Threei} if USO drops sharply from here, UAUA scalp long
[10:56] {Threei} what a wierd look...
[10:56] {Threei} everyone sees what I see on UASUA level 2 and T&S?
[10:56] {Threei} almost no trading
[10:57] {Threei} thin bids and offers
[10:57] {Threei} much thinner than usual
[10:57] {peterg} took phone call--great line, dino
[10:58] {Threei} anyone?
[10:58] {brian3579} yes
[10:58] {Threei} ty
[10:58] {fernp} almost no prints in UAUA
[10:59] {Threei} let'as leave it alone
[10:59] {Threei} too wierd
[10:59] {Threei} and dangerous
[10:59] {brian3579} i dont talk much but always listening vad
[10:59] {Threei} :)
[10:59] {Threei} direct opposite of me
[11:00] {Threei} lol
[11:00] {Threei} at least accorsding to my wife
[11:00] {fernp} MPEL valid dbi?
[11:00] {dino} dxd stopped -.40
[11:00] {Threei} with .65 stop
[11:00] {fernp} ty
[11:01] {Threei} MPEL is unusually thin too
[11:01] {esemde} long MOLX .02
[11:01] {esemde} full lot
[11:02] {Threei} Long Setup: MSFT 25.01 if holding above 24.90
[11:02] {esemde} out MOLX .20
[11:02] {magoo} what???
[11:03] {magoo} we never trade sdofty
[11:03] {esemde} +.18
[11:03] {Threei} the rest is too thin today, mags {G}
[11:03] {Threei} nice one ese
[11:03] {Threei} clean JBE scalp
[11:03] {esemde} quick tks
[11:10] {Threei} 1:1
06[11:10] * Threei slaps magoo around a bit with a large trout
[11:10] {magoo} out .12 TY fl
[11:10] {Threei} and you didn't think I could trade MSFT
[11:11] {magoo} after i picked myself off floor and looked at it..i took it lol
[11:11] {Threei} lol
[11:12] {esemde} never crossed my mind that you couldn't do it Vad
[11:13] {Threei} thank you ese
[11:13] {Threei} it's magoo who doubts me ability to trade 25 cents for a phone call
[11:14] {esemde} anyone who can barbecue shiskabob like you do in my opinion....can do anything
[11:14] {Threei} lol
[11:14] {Threei} US SEN DODD: CONGRESS MUST BE ALLOWED INPUT ON FINANCIAL RESCUE PLANS
[11:14] {Threei} hmm?
[11:14] {magoo} well vad..u show me one pay phone in entire north east
[11:15] {Threei} what, civilization hasn't reached it yet?
[11:15] {Threei} home pigeons is a way to communicate?
[11:15] {Threei} oil quick drop
[11:17] {Threei} UAUA reacted... but really, I don't think I've seen it trading that thinly
[11:17] {esemde} nice move by MOLX....
[11:17] {Threei} MSFT went to 1:2 earlier
[11:18] {esemde} my NVDA swing trade is almost back to even
[11:18] {esemde} nother 20 cents
[11:19] {esemde} still lookin for theat 14 15 area
[11:20] {peterg} Good for you; I lost faith, bailed & ate it.
[11:20] {peterg} not tasty
[11:21] {Threei} Russian markets are halted again
[11:21] {esemde} Iwanted to add another couple of thousand at the 8 dollar level....it was just down there stupid as far as i was concerned
[11:22] {Chaeron} Thanks for MSFT Vad - took + $0.20 from it
[11:22] {Threei} good job Chaeron
[11:23] {Chaeron} oh sorry... in .02 - out .22
[11:24] {dino} qid l .00
[11:32] {Threei} PROSHARES ANNOUNCEMENT, WILL NOT TAKE ORDERS UNTIL FURTHER NOTICE DUE TO SEC ACTION
[11:32] {Threei} - Due to the emergency action announced by the Securities and Exchange Commission on September 18, 2008, temporarily prohibiting short sales of shares of certain financial companies, Short Financials ProShares (SEF) and UltraShort Financials ProShares (SKF) are not expected to accept orders from Authorized Participants to create shares until further notice. Unless notified otherwise, shares will be available for redemption by Authorized Participants as normal.
[11:32] {Threei} - The shares of these ProShares are expected to trade in the financial markets today, but may trade at prices that are not in line with their intraday indicative values. {SKF}
[11:37] {dino} lihr
[11:37] {Threei} REP FRANK: REASONABLY CERTAIN THE HOUSE WILL PASS A BAILOUT PACKAGE BY THE END OF NEXT WEEK, IN LINE WITH THE ADMINISTRATION'S TIMETABLE
[11:37] {Threei} {XLF}
[11:39] {Threei} ok guys, I know thinking is not very popular among us, but let's try
[11:39] {Threei} if Treasury buys mortgages,
[11:39] {Threei} does it or does it not mean huge upside for FRE/FNM?
[11:40] {Threei} SKF opened
[11:40] {dino} not touching it
[11:40] {Threei} no
[11:41] {Onix} ty Vad, i got .17 in MSFT
[11:41] {Threei} :)
[11:42] {dino} out qid -.27
[11:45] {Threei} no connection between SKF and financial stocks
[11:45] {Threei} some repricing is happening within ETF probably
[11:46] {Threei} GS... break of 130 long for adventurous souls
[11:46] {Threei} for very adventurous
[11:47] {Threei} for extremely adventurous
[11:47] {magoo} ok ok i get it
[11:48] {Threei} and specificsally for magoo... only ifd you are beyond adventurous
[11:50] {Threei} half out .65
[11:50] {Threei} out in full 131
[11:50] {Threei} buck for ya
[11:50] {magoo} nice..theres 1..u owe me 1 more pt
[11:50] {Threei} rofl
[11:50] {magoo} our newthingy
[11:51] {Threei} to quote dino... "tough crowd"
[11:52] {dino} indeed
[11:52] {Threei} and to quote ese... indeed
[11:52] {Threei} :)
[11:53] {dino} neu s .47
[11:53] {dino} sm
[11:53] {magoo} quote magoo vad
[11:54] {Threei} to quote magoo... what, just 1 point trade?? You owe me... you owe me big
[11:55] {magoo} :)
[11:56] {dino} ueic
[12:00] {esemde} outta here everyone...have a great weekend
[12:00] {Chaeron} bye ese!
[12:01] {Threei} take care ese
[12:01] {dino} cya es
[12:06] {pita} day job calling again - good fishing everyone...
[12:06] {magoo} have good one pita
[12:06] {Threei} take care pita
[12:22] {Chaeron} .
[12:23] {magoo} ..
[12:23] {Threei} and who is going to sweep all that?
[12:23] {Chaeron} ... - - - ...
[12:24] {Chaeron} I'll get it after close Threei
[12:24] {Threei} okay then... carry on littering around
[12:25] {Chaeron} market up 400+ and day feels done
[12:25] {peterg} .-.-.-.-.-.-.--.-.-.-.-.--.
[12:25] {Threei} Long Setup: MS half lot .76
[12:25] {magoo} interesting last hour and half coming
[12:25] {Threei} stop under .60
[12:27] {magoo} playing that off GS vad?
[12:27] {Threei} nah
[12:27] {Threei} its own setup
[12:28] {Threei} CNBC'S FABER: HEARING GE EXPECTED TO BE ADDED TO BANNED SHORT SALE LIST
[12:28] {Threei} {SPY LM CIT}
[12:29] {Threei} over 1:1 MS
[12:29] {magoo} out .99 TY
[12:29] {magoo} in .77
[12:29] {Threei} :)
[12:29] {magoo} +.41
[12:30] {Threei} hmm?
[12:30] {magoo} um...uh
[12:30] {Threei} lol
[12:30] {magoo} t6he in and outs are correct lol
[12:30] {Threei} MS
[12:30] {Threei} WSJ SAYS FIRM SEES MORE TIME TO DO A DEAL
[12:34] {Chaeron} MS - in 29.76 out 30.19 + 0.43
[12:35] {Chaeron} many thanks Vad
[12:35] {Threei} welcome sir
[12:35] {Threei} GE is running like crazy antelope
[12:35] {Chaeron} I'm playing it safe... Friday and all the witches you know
[12:36] {Threei} yeah, all 4 of them
[12:37] {Threei} next break MS
[12:37] {Threei} very sustainable buying
[12:38] {Threei} pullbacks are buyable so far
[12:38] {Threei} in .15
[12:38] {Threei} stop under 30
[12:39] {Threei} half out .47
[12:39] {Threei} stop to .09
[12:39] {Chaeron} sorry... missed - dang phone
[12:40] {magoo} me too phone
[12:40] {Threei} out in full
[12:40] {Threei} GE drops
06[12:40] * magoo slaps Threei around a bit with a large trout
[12:40] {Threei} what, you two phone each other instead of trading
[12:40] {Chaeron} of course you're on the phone you dummy... we're talking to each other
[12:40] {Threei} lol
[12:41] {Chaeron} lol.... I'm teasing 3i
[12:41] {magoo} roflol
[12:42] {Threei} use GE bounce to find next entry for bounce MS
[12:42] {Threei} awww
[12:42] {Threei} missed while typed, lol
[12:43] {Threei} they got disconnected now
[12:44] {Threei} GE itself is a bounce play though
[12:44] {Threei} desirably on a dive under .50
[12:47] {Threei} in .49, stop under .40
[12:47] {Threei} HOLDERS ARE PURSUING AN EFFORT TO HELP PAY OFF GOV'T LOAN TO PREVENT THE GOV'T FROM TAKING AN 80% STAKE IN AIG - WSJ
[12:53] {dino} cymi
[12:53] {Threei} AIG serous buying pressure
[12:55] {dino} if they can pull it off it will rock
[12:56] {dino} or take it private
[13:07] {Threei} who is running out of gas first on AIG, buyers or sellers
[13:11] {magoo} just make the call he he
[13:17] {Threei} well, looks like 4 break if holding 3.80
[13:17] {Threei} CEG...
[13:17] {Threei} EDF WILL PREPARE A COUNTER OFFER TO BERKSHIRE'S MIDAMERICAN - LES ECHOS
[13:17] {Threei} - reportedly EdF executives are meeting to discuss options.
[13:17] {Threei} - Note EdF is the largest holder (9.5%), and that as a result of bid, company notes it has no other choice.
[13:17] {Threei} - reminder: MIdAmerican signed a tentative deal to acquire CEG for $26.50/shr yesterday.{EDF.FR}
[13:18] {Threei} CIT
[13:18] {Threei} REQUESTS TO BE ADDED TO THE SEC SHORT SELL BAN LIST - CNBC
[13:22] {GeoArb} gm PST time
[13:23] {Chaeron} hey Geo
[13:23] {Threei} Geo :)
[13:23] {dino} DINO- requests to be added to SEC short sell ban list
[13:23] {dino} ENRON, too
[13:26] {magoo} vad,,whats with laser message? breaking ttades now??
[13:26] {Threei} some of those morning wierdos, like ZION
[13:28] {Threei} AIG probably lost mojo
[13:28] {Threei} too bad we can't short .80 break
[13:29] {magoo} blasthmamy
[13:30] {Threei} wooohoo
[13:31] {Threei} BAC
[13:31] {Threei} CEO: NOT ALL REGULATIONS ARE 'GOOD', PAULSON AND BERNANKE HAVE MADE CORRECT DECISIONS
[13:31] {Threei} "good job paulie and bernie!"
[13:31] {Threei} heckuva job
[13:31] {dino} meaning: "once we want to start shorting financials again, they must let us"
[13:32] {Threei} too bad we can live the same event twice, in parsallel universes... and compare results
[13:32] {dino} "our trading dept. has nothing to do, stocks have rallied too much"
[13:32] {dino} "lay-offs will occur w.o short selling employees"
[13:32] {Threei} we have two distinctive campas here
[13:33] {Threei} one camp says, this is the only solution, you guys who object you just don't understand what was at steake,
[13:33] {Threei} ask those who lived through Great Depression what 25% unemployment means
[13:33] {patience} my parents shook their children to the core with the later....i'm the second camp
[13:33] {Threei} another camp says, don't put us in debt for generations, let them fail, clran up and start anew
[13:34] {GeoArb} i have started fertilizing my backyard
[13:34] {GeoArb} ok that didnt come out right :)
[13:34] {Threei} rofl
[13:34] {patience} you're right
[13:34] {dino} lol geo
[13:34] {dino} i'll send my dog to help
[13:36] {Threei} I don't have my own opinion, really... beyond my scope of understanding all the possibilities, odds and implications
[13:36] {Threei} this is too vast for this amateur
[13:36] {dino} i'm in the 2nd camp, if they had let bsc fail, pethaps the others would have acted
[13:36] {Threei} I am happy I was able to trade through this period profitably
[13:37] {GeoArb} i am just happy that financial engineers are being punished
[13:37] {Threei} I don't know what to say dino... I can come up with zillion "yes but" for any position, lol
[13:37] {GeoArb} the next generation will go to real science and engeneering and make something for a change
[13:37] {Threei} Geo, but they don't
[13:37] {Threei} they are being bailed out, forgiven
[13:37] {Threei} and worst of all
[13:38] {Threei} they will be made heores!
[13:38] {Threei} heroes
[13:38] {GeoArb} all IBs are dissapearing
[13:38] {Threei} for rescuing the world
[13:38] {GeoArb} regardless wall street is going to be a different place to work in
[13:38] {dino} don't count on it.
[13:39] {GeoArb} wishfull thinking i guess
[13:39] {dino} where are all of the board of directors and ceo, cfo, etc} they should be indicted, but they won't. the worst is the boards, the get paid 6 figures and then say we did not understand
[13:40] {GeoArb} ias a famous econosit said
[13:40] {GeoArb} ceo pay isnt based on performance
[13:40] {GeoArb} its just a genourous gesture to oneself
[13:41] {dino} a popularity contest, just like politics
[13:47] {Threei} what a beautiful short .80 break would have been eh?
[13:51] {Threei} well so far very nice day even though not many trades
[13:51] {Threei} best of all, magoo got his $1 call
[13:51] {Threei} lett headache for me
[13:51] {Threei} less
[13:52] {Threei} and really... when was last time I called MSFT, lol
[13:52] {Threei} never?
[13:57] {Threei} look at ABK
[13:57] {Threei} I assume there are no short sellers on it, right?
[13:58] {Threei} OFHEO'S LOCKHART: SUPPORTS DECISIONS BY PAULSON, DIRECTS GSES TO BEGIN PURCHASES OF MBS
[13:58] {Threei} {XLF}
[13:58] {Threei} MBS?
[13:59] {Threei} ABK bounce soon
[13:59] {Threei} one more leg down probably
[14:01] {Chaeron} waiting patiently
[14:01] {GeoArb} geo{---- still fertilizing
[14:02] {GeoArb} okok i confess I am in between brokers so not trading :(
[14:03] {Threei} I am trying to make all $1 calls while you cxan't trade Geo...
[14:03] {GeoArb} thats just cruel vad
[14:03] {GeoArb} you can forget that case of shipped napa wine
[14:03] {Threei} magoo said he doesn't qwant to compete with you on entries and exits 'cause you always undercut him
[14:03] {GeoArb} me??? i am a rank newbie
[14:04] {Chaeron} did I miss ABK?
[14:04] {Threei} I guess chaeron...
[14:04] {Chaeron} sigh
[14:04] {Threei} wanted it closer to .50
[14:05] {Threei} it touched under .60 just for a brief second
[14:05] {Chaeron} yeah... let's see
[14:06] {Threei} PIMCO'S BILL GROSS ESTIMATES THAT THE US WILL PURCHASE US MORTGAGES AT $0.60 ON THE DOLLAR
[14:06] {Threei} maybe second chance coming chaeron
[14:07] {Threei} EDF CONFIRMS MEETING TO DISCUSS ISSUES RELATED TO MIDAMERICAN ACQUISITION OF CEG
[14:07] {Threei} {EDF.FR}
[14:13] {dino} .60 on dollar, then financials should rally, as they were using .30 i believe
[14:15] {dino} neu bstop to .02
[14:16] {Threei} AIG is trying again
[14:20] {Chaeron} on break of 4.09?
[14:20] {Threei} hard to tell... too thick
[14:23] {Threei} this is kind that is much better bought on pullback
[14:23] {Threei} it retreats constantly because of its thickness
[14:23] {Chaeron} yeah... didn't like action
[14:29] {Threei} SEC REPORTEDLY MAY ADD MORE FINANCIAL COMPANIES TO THE BANNED SHORT SELLING LIST
[14:29] {Threei} - Reminder CNBC reported that CIT and GE had also been added to the list, as had not been named before
[14:31] {dino} ge being added, give me a break
[14:34] {patience} never seen the tsx up over 700 points in one day before
[14:35] {Threei} EU'S JUNCKER: FINANCIAL MARKET RESCUE PLAN INITIATED BY THE US APPEARS 'WISE'
[14:35] {GeoArb} can i get my house on that list?
[14:36] {Chaeron} somehow, "government" and "wise" don't fit together.........
[14:36] {Threei} oxymoron
[14:36] {Chaeron} full of morons too
[14:37] {cosmo} wiseguys?
[14:37] {Threei} and someone, give magoo a vocabulary before he decides that I called him a moron
[14:37] {Chaeron} lol
[14:37] {magoo} too late
06[14:37] * magoo slaps Threei around a bit with a large trout
[14:37] {Threei} lol
06[14:37] * Chaeron slaps magoo with a dictionary and thesaurus
[14:37] {GeoArb} rumour is magoo is a wine and caviar kind of guy in real life
[14:38] {magoo} NOT
[14:38] {GeoArb} lol
[14:38] {Threei} yes, he is very refined
[14:38] {magoo} jim beam and tacos
[14:38] {Threei} tax is his clothes for morning run
[14:38] {GeoArb} you mean he cleans the cap efore opening the beer?
[14:38] {Chaeron} lol Geo
[14:38] {magoo} that does itttttttttt
06[14:38] * magoo slaps GeoArb around a bit with a large trout
[14:38] {GeoArb} heheheheh
[14:39] {GeoArb} i thought that was rather good
[14:39] {GeoArb} for me being a snob is drinking kronenberg 1664
[14:39] {GeoArb} thats just wrong
[14:40] {Threei} so what about WM that is being a subject of bidding war by 4 or 5 banks
[14:40] {Threei} why is this thing lies in mud
[14:41] {Threei} trying to find candidates for end of day run
[14:41] {Threei} AIG
[14:41] {Threei} WM
[14:41] {judijim} we're saying good bye for now. Take care everyone and good trading.
[14:41] {Threei} take care jj, have fun and good trading
[14:41] {dino} take care jj
[14:43] {Threei} ABK probably
[14:43] {Threei} drop from 8.5 to 4.5, should be bounce-worthy, no?
[14:46] {magoo} no
[14:46] {Threei} ok... let's try to get it at 4
[14:47] {Threei} AIG's crawling
[14:47] {magoo} full ?
[14:47] {Threei} sure
[14:47] {Chaeron} closer to 4?
[14:47] {dino} neu cov stopped .08 ave +.38
[14:47] {Threei} no way to tell exactly chaeron
[14:47] {Threei} but it's likely to lose 4.50 this time
[14:47] {Threei} here we go
[14:47] {magoo} lets sh it
[14:49] {magoo} missed it
[14:50] {magoo} only saw .45 area
[14:50] {Threei} AIG pullback
[15:05] {dino} matw sm l .58
[15:06] {magoo} what u got vad
[15:06] {Threei} where?
[15:07] {Threei} ABK I missed
[15:07] {Threei} AIG 4.07
[15:09] {Threei} (UK) UK'S DARLING: UK FINANCIAL MARKET ISSUES ARE SEPARATE THAN THAT OF THE US, HOWEVER ACTIONS BY THE FED AND TREASURY ARE SUPPORTED
[15:09] {GeoArb} i thought I was Uk's darling :)
[15:09] {GeoArb} feel free to kinck me out vad
[15:10] {Threei} lol
[15:10] {GeoArb} ok crap kink me out
[15:10] {Threei} CHICAGO BOARD OF OPTIONS EXCHANGE: SHORT SELLING BAN WILL COMPROMISE MARKETS
[15:10] {Threei} {XLF}
[15:10] {Threei} yup
[15:10] {GeoArb} agree
[15:10] {GeoArb} we are creating empt pockets with no resistance
[15:11] {Threei} Todd Harrison
[15:11] {Threei} "I don't profess to know how long this synthetic bid will last but it will remove an integral layer of demand in the marketplace. Once the life is squeezed out of the shorts--quite literally--the risk to the downside will perhaps be greater than during any time in history."
[15:11] {Threei} I tend to agree
[15:11] {Threei} this is two-sided sword
[15:12] {Threei} FRENCH SECURTIES REGULATOR AMF RESTRICTS SHORT SELLING
[15:12] {Threei} everyone got so short-banning happy
[15:13] {GeoArb} thats it
[15:13] {GeoArb} I am moving to eminis
[15:13] {GeoArb} i can short enything i want
[15:13] {Threei} until they ban it
[15:13] {GeoArb} NQ room vaD?
[15:13] {Threei} nah
[15:13] {Threei} boring
[15:16] {Threei} so why do financials drop with nop shorts?
[15:20] {dino} because fundamentally they are in a world of sh#t, and everybody knows it, so get me out
[15:20] {Threei} that was rhetoric question dino :)
[15:21] {dino} lol, i knew it was, but magoo didn't
[15:21] {Threei} wehat else is new
[15:21] {GeoArb} i thought some one will use "drp" and "shorts" to make up an answer
[15:22] {Threei} we are above that Geo
[15:22] {Threei} we are refined gentlemen
[15:22] {GeoArb} comeone atleast peterg
[15:22] {Threei} inspired by the image of magoo in taxedo
[15:23] {GeoArb} geo{--- goes back to his pipe smoking
[15:23] {Threei} better dust off that tax and join us
[15:23] {dino} dino just goes back
[15:23] {Threei} lol
[15:23] {GeoArb} heheh
[15:24] {Threei} cigar... fine cognac... plush leather chairs...
[15:24] {GeoArb} sounds like a ceo office
[15:24] {Threei} non-rushed discussion of trends in prioduction of ivory buttons for men's shirts in South Argentina in 18th century
[15:25] {dino} ahh yes, i remember those days
[15:25] {GeoArb} really?
[15:25] {dino} indeed
[15:25] {dino} vampire
[15:26] {dino} been around awhile
[15:26] {Threei} out AIG
[15:26] {Threei} .31
[15:27] {Threei} if pulls back nicely, going to try again
[15:28] {magoo} where?
[15:28] {magoo} i keep midssing
[15:28] {Threei} it gave you second chance after I told my entry...
[15:29] {magoo} well..im slow today
[15:29] {Threei} wow... AIG not pulling back anymore
[15:30] {Threei} come on
[15:30] {Threei} give me something better than .38
[15:32] {dino} neog sm l .02
[15:34] {dino} matw stopped -.50
[15:34] {Threei} SEC REPORTEDLY LOOKING AT EXEMPTING OPTIONS MARKET MAKERS FROM THE RULE AGAINST SHORT SELLING
[15:35] {dino} lihr
[15:36] {dino} yeah, lets save the makers, not the buyers, it just keeps getting weirder
[15:38] {Threei} well, they have contradiction between equities and options if no short selling allowed anywhere
[15:38] {Threei} and problems with hedging
[15:38] {Threei} they are just trying to remove this
[15:38] {Threei} it calls comedy of errors
[15:38] {Threei} one idiotic solution, instead of being abasndoned, gets fixed
[15:38] {Threei} oatched
[15:38] {Threei} patched
[15:38] {Threei} duct taped
[15:39] {Threei} until whole thing becomes so cumbersome, non-understandable and unenforceable, everything falls apart
[15:39] {Threei} they said shorts are banned till Oct 2
[15:39] {Threei} I sure hope they won't try and extend it
[15:40] {Threei} I would be interested to know,
[15:41] {Threei} was it pure emotional decision, plus some scapegoat search
[15:41] {Threei} or they looked at actual data
[15:41] {Threei} and decided there were problems with shorting financials
[15:41] {magoo} u like AIG ABK here long?
[15:42] {Threei} can't tell mags, it's momo plays
[15:42] {Threei} no technicals work
[15:42] {Threei} only watching them as momos, for frenzy buying can give you an answer
[15:43] {dino} they will extend it, as it is not enough time to fix the problem banks. if they don't look out below
[15:44] {Threei} well... till Oct 2 I elect to be naive and have faith in common sense return
[15:44] {Threei} on Oct 2 I am ready to be disappointed
[15:44] {dino} july it was stopped on some until aug., look what happened
[15:45] {dino} all the insiders will be getting out on the run up
[15:45] {Threei} amazingly enough, they didn't learn the lesson
[15:45] {dino} would've rather had the up-tick re-instated instead of the ban
[15:45] {Threei} better yet,
[15:46] {Threei} do your frikin job and reinforce your own rule: no illegal naked shorts
[15:46] {dino} yes
[15:46] {Threei} those are problem, not your normal shorts
[15:49] {Threei} what a week
[15:50] {dino} wabc bank getting whacked
[15:50] {Threei} darn shorts sneaked in I guess
[15:50] {Threei} ummm... that came out not right
[15:50] {Threei} lol
[15:51] {Threei} Ok guys, that was the most amazing and amuzing week in my whole trading career
[15:51] {Threei} stuff out of science fiction
[15:51] {dino} lol
[15:52] {Threei} let's have some rest
[15:52] {dino} buy a larger size
[15:52] {Threei} lol
[15:52] {Threei} yes
[15:52] {Threei} that'll help
[15:52] {Threei} thank you all
[15:52] {Threei} have a good weekend
[15:52] {Threei} see you on Monday
[15:53] {dino} cya 3i
06[15:53] * Threei slaps magoo around a bit with a large trout
[15:53] {Threei} NOW my week is over
[15:54] {dino} magoo, a brew
[15:54] {magoo} u got it
[15:55] {dino} out neog .48, +.46
[15:55] {magoo} officially drinking here
[15:55] {dino} slightly neg. today, but best week of moth
[15:58] {dino} adding a sm swing index short
[16:00] {fernp} have a happy weekend all
[16:00] {dino} calling it a week. take care and thx all

Sep 18 2008

Session Time: Thu Sep 18 00:00:00 2008

[08:07] {Threei} MS
[08:07] {Threei} DISCUSSIONS WITH WB ARE IMMINENT - CNBC'S GASPARINO
[08:07] {Threei} {WB}
[08:13] {brian3579} gm
[08:13] {Threei} brian :)
[08:21] {magoo} morn
[08:22] {Threei} magoo :)
[08:23] {Threei} NEW YORK TIMES REPORTS MS CEO CALLED CITI CEO PANDIT ON TUESDAY TO DISCUSS MERGER
[08:24] {magoo} vad, any news RIMM AAPL BIDU?
[08:25] {Threei} kidding?
[08:25] {magoo} huh?
[08:26] {Threei} they don't move on news these days
[08:26] {Threei} unless it's a very very significant news
[08:26] {magoo} im just making sure there isn't anything out there
[08:26] {Threei} market is gapping, they do too\
[08:27] {Threei} it's like ray of hope in the sea of dread
[08:27] {Threei} it's been so bad for so long,
[08:27] {magoo} any new recent news GS?
[08:27] {Threei} any sign of recovery is being greeted
[08:27] {Threei} now, this is right question
[08:27] {Threei} this group is totally news dependent
[08:28] {Threei} nothing GS=specific
[08:28] {Threei} general news in financial sector, a lot of them
[08:29] {Threei} how about this:
[08:29] {Threei} REPORTEDLY CEO MACK CALLED CITI CEO PANDIT ON TUESDAY TO DISCUSS A POTENTIAL MERGER - NEW YORK TIMES
[08:29] {Threei} - On the call Mack told Pandit "We need a merger partner or we're not going to make it."
[08:29] {Threei} - The report cites two people familiar with the situation, noting that Pandit turned down the merger proposal.
[08:29] {Threei} We need a merger partner or we're not going to make it.
[08:30] {Threei} there you have it...
[08:30] {Threei} every headline showing merger as coming - spike up
[08:30] {Threei} any headline denying it - sharp drop
[08:30] {Threei} MS is simply current market worry
[08:30] {Threei} much like FRE/FNM were,
[08:30] {Threei} then LEH,
[08:30] {Threei} then AIG
[08:31] {Threei} it's MS's turn
[08:31] {Threei} second place is probably WM
[08:32] {Threei} but any of big banks and brokers has potential to overatke as major worry if posts serious news
[08:36] {magoo} MB Trading message..penson can't handle volume last few days and not updating trade clearing..accts all wrong
[08:36] {magoo} i thought bear cleared thru penson
[08:36] {Threei} I don't think so
[08:37] {Threei} check with dave but I remember talk about self-clearing
[08:37] {magoo} could u imagine? last 3 days not getting actual confirmation of trades??
[08:38] {Threei} and getting quotes stuck on you
[08:38] {Threei} which is reported across the board by majoritty of brokers
[08:38] {Threei} no single hiccup on laser so far
[08:38] {Threei} even on heaviest volume like AIG
[08:39] {magoo} laser blew dinos mind yester, covered a sh in GS at 100 while prints were showing like 102
[08:40] {Threei} that's one frikin good software for sure
[08:41] {Threei} (IR) IRANIAN PRES: NO SUSPENSION OF IRANIUM ENRICHMENT AS HAS BEEN REQUESTED
[08:41] {Threei} {USO}
[08:43] {Onix} good morning everybody
[08:44] {magoo} Onix:)
[08:44] {patience} good morning RT, another interesting day coming :)
[08:46] {magoo} patience:)
[08:47] {Threei} onix, patience :)
[08:47] {cosmo} VRTX holds 25 ....so far...
[08:48] {Threei} MERRILL ANALYST SAYS WAMU COULD FECTH A TAKEOUT PRICE OF $2-$3/SHR (TIMING UNCERTAIN)
[08:48] {cosmo} # Vertex Pharmaceuticals Announces Pricing of its Public Offering of Common StockBusiness Wire(Thu 8:46am)
[08:55] {fernp} Good morning all
[08:55] {Threei} fern :)
[09:01] {Threei} here is interesting take on oil market:
[09:01] {Threei} http://www.atimes.com/atimes/Global_Economy/JI19Dj02.html
[09:02] {Threei} well worth read
[09:09] {dino} gm all
[09:09] {Threei} dino :)
[09:18] {Threei} PRESIDENT BUSH TO MAKE STATEMENT ON MARKET DEVELOPMENTS AT 10:15AMET
[09:18] {Threei} CEDC
[09:18] {Threei} REAFFIRMS GUIDANCE
[09:19] {esemde} gm
[09:19] {Threei} ese :)
[09:19] {Threei} magoo, for you:
[09:19] {Threei} AAPL
[09:19] {Threei} UPDATE: GOLDMAN SACHS RAISED AAPL TO BUY FROM NEUTRAL
[09:19] {esemde} get to hang with you all just a little bit
[09:21] {cosmo} LVLT
[09:22] {magoo} vad, i want another vad special 2 bux magoo trade today..ok?
[09:23] {Threei} no pressure eh?
[09:23] {patience} financials bounce up today vad?
[09:24] {Threei} if it was pure chart play, I'd say firmly yes
[09:24] {Threei} but with this barrage of news and constant developments at neckbreaking speed... who knows
[09:25] {patience} lots of central bank funding through the night....slosh slosh....money has to go somewhere
[09:25] {Threei} yes but why in financials :)
[09:25] {patience} or sell the bounce?
[09:25] {patience} never mind, i'll trade what i see :)
[09:26] {Threei} my feeling is, this money will try to find sectors with less risk exposure
[09:26] {magoo} tech is pummelled
[09:26] {Threei} andf start forming bottom for those sectors
[09:26] {Threei} while letting financials sort things out
[09:26] {Threei} tech is one
[09:26] {Threei} bth, AAPL is up a buck for you since my post, magoo
[09:27] {Threei} I am half dfone with your request
[09:27] {magoo} OH NO...OH NO..that was not a trade call like yesterday
[09:28] {Threei} sigh
[09:28] {Threei} no relief for me
[09:28] {dino} what only 2 bucks magoo, you don't ask for much
[09:34] {Threei} Long Setup: CALM small shares .50 break if stays above .25
[09:36] {Threei} half out CALM .95
[09:36] {Threei} scalpers take profit
[09:37] {Threei} offer other half 40.20 or so
[09:37] {dino} olmn stop to .08
[09:37] {dino} out +.50
[09:37] {dino} .54
[09:37] {Threei} wtg
[09:37] {dino} ty
[09:37] {dino} had computer cash
[09:37] {judijim} good morning all
[09:38] {Threei} jj :)
[09:39] {magoo} took calm this time vbad..nice
[09:39] {Threei} out or partialled?
[09:40] {magoo} full out
[09:40] {magoo} u know me
[09:40] {Threei} OK
[09:40] {magoo} but took hl
[09:40] {dino} ilmn sm l .15 stop .95
[09:41] {esemde} looking at CORS pullback
[09:42] {dino} light or extra gold
[09:44] {Threei} EU'S ALMUNIA: CAN NOT RULE OUT SOLVENCY ISSUES IN EUROPE, NOR ADDITIONAL GOVT INTERVENTATION IN FINANCIAL COMPANIES
[09:44] {Threei} {XLF}
[09:45] {magoo} where are the dip buyers?
[09:45] {Threei} UAUA
[09:45] {Threei} BOOSTS LIQUIDITY BY APPROXIMATELY $1.2 BILLION, COMPLETES CHASE AGREEMENT
[09:46] {esemde} cors light
[09:47] {Threei} Long Setup: RIMM .50 break
[09:47] {dino} :) es
[09:48] {magoo} lets wait vad for qqqq to reverse
[09:48] {Threei} goes without saying
[09:48] {magoo} r u cranky
[09:48] {dino} ilmn stop to .64
[09:48] {Threei} ain't I always?
[09:48] {dino} out +.49
[09:48] {magoo} oh yeah..thats right
[09:49] {Threei} :)
[09:49] {Threei} if loses 95 becomes rather a bounce play
[09:49] {magoo} again, first sign of strenght q
[09:49] {Threei} yup
[09:49] {Threei} I mean... goes without saying
[09:49] {magoo} lol
[09:51] {Threei} in
[09:51] {Threei} stop under 95
[09:51] {magoo} .23
[09:53] {Threei} dumped .95
[09:53] {Threei} was totally ready for a buck move, don't know suddenly killed it
[09:54] {magoo} really....
[09:54] {patience} tsx up 405
[09:54] {Threei} MS
[09:54] {Threei} CHINA'S CIC REPORTEDLY LOOKING TO INCREASE ITS STAKE TO 49%
[09:54] {magoo} aapl went ..q went..rimm srtarted
[09:55] {magoo} now that was nasty of rimm
[09:55] {dino} ms sm l .38
[09:55] {Threei} jeez
[09:56] {Threei} lol
[09:56] {Threei} good thing MS compensated me meanwhile
[09:56] {Threei} that's some trick onRIMM's part
[09:56] {magoo} what entry u have on rimm..just seeing if my instincts was good
[09:56] {Threei} same as you
[09:57] {magoo} oh..cool
[09:57] {magoo} that trade would work 90% of time
[10:00] {Threei} AUG LEADING INDCATORS: -0.5% V -0.2%E
[10:00] {Threei} SEPT PHILADELPHIA FED INDEX: 3.8 V -10E
[10:00] {Threei} wow
[10:01] {dino} out ms .10, +.72
[10:01] {Threei} wtg
[10:01] {dino} ty for heads up news
[10:01] {Threei} :)
[10:01] {Threei} notice interesting thing
[10:01] {Threei} WB went down on this news
[10:02] {Threei} MS's increase of chance to stay indcependent means no merger for WB
[10:02] {Threei} new pattern emerges
[10:03] {dino} ilmn sm l .40
[10:04] {esemde} OK dino...I chickened out...where would you have gotten in on CORS...and why....
[10:04] {Threei} REPORTEDLY BANK OF CHINA EXECUTIVE STATES THEY ARE NOT READY TO INVEST IN LARGE FOREIGN BANKS
[10:04] {Threei} *This story was originally posted to clients entitled to Global Equities{XLF }
[10:04] {esemde} 5.80?
[10:05] {Threei} if I am right WB should bounce on this news
[10:05] {dino} ilmn stop is .09
[10:05] {Threei} there you go
[10:06] {esemde} is 6.20 still viable dino on Cors
[10:06] {dino} stopped -.31
[10:06] {Threei} starts looking like tradeable pattern
[10:06] {Threei} you got the idea guys?
[10:08] {Threei} grave silence was the answer to him
[10:08] {cosmo} uaua
[10:10] {dino} ugh ilmn rinse
[10:14] {Threei} REITERATES CNBC REPORT THAT MERGER TALKS HAVE REACHED A MORE FORMAL STAGE WITH WB
[10:14] {Threei} {WB}
[10:15] {dino} v sm l .01 wide
[10:16] {Threei} MS
[10:16] {Threei} REPORTEDLY THE MERGER TALKS HAVE REACHED A MORE FORMAL STAGE WITH WB, ALSO DISCUSSING OPTIONS WITH OTHER FINANCIAL COMPANIES - UNCONFIRMED REPORT
[10:16] {Threei} - Note this reiterates a CNBC report earlier this morning{WB}
[10:17] {cosmo} uaua hod = 12
[10:18] {cosmo} fyi
[10:18] {Threei} oil drop helping it
[10:18] {Threei} don't pay UAUA on its own merits
[10:18] {Threei} have USAO on your screen
[10:18] {Threei} USO
[10:18] {cosmo} got both
[10:18] {Threei} you are good then
[10:19] {cosmo} oh gee....
[10:19] {Threei} hehe
[10:19] {cosmo} :)
[10:19] {Threei} USO is bouncing, watch UAUA follow the suit and drop
[10:19] {cosmo} hmm
[10:20] {Threei} it waits a little, as if to see if that's real bounce on USO, or just cople upticks
[10:20] {Threei} there you go
[10:22] {dino} v stop to .44
[10:22] {dino} out v +.43
[10:25] {cosmo} uaua ... to the moon?
[10:26] {Threei} if oil to the center of earth, yes
[10:27] {cosmo} that's one of the theories ... yes
[10:27] {Threei} (RU) FITCH SEES GROWING LIQUIDITY CONCERNS FOR RUSSIAN CORPORATIONS
[10:27] {Threei} {RSX}
[10:30] {Threei} anyone shed RSX on that?
[10:31] {Threei} shed = shorted
[10:31] {esemde} have a great day...see you tomorow......
[10:31] {Threei} take care ese
[10:31] {esemde} see ya vad
[10:35] {Threei} *EIA NATURAL GAS INVENTORIES: +67 BCF VS. +55 TO +65 BCF RANGE OF ESTIMATES
[10:35] {Threei} {UNG}
[10:35] {Threei} UNG dropped like a rock
[10:36] {Threei} CMA
[10:36] {Threei} CUTS DIVIDEND 50% TO $0.33 FROM $0.66
[10:37] {Chaeron} Good morning all
[10:37] {Threei} chaeron :)
[10:41] {magoo} UNG crashing
[10:41] {Threei} was short on that news
[10:47] {dino} v sm l .15
[10:54] {peterg} better late than never
[10:55] {magoo} aapl wewnt neg..was up 4
[10:56] {Threei} Short Setup: UAUA .55
[10:56] {Threei} stop .66
[10:58] {Threei} GE) GERMAN CHANCELLOR MERKEL: TO URGE FINANCIAL MARKETS TO BECOME MORE TRANSPARENT AND BETTER SECURE RISK
[10:58] {Threei} hmmm
[10:59] {Threei} half out UAUA .32
[10:59] {Threei} scalpers take profit
[10:59] {dino} v stop to .98 mkt drop[
[11:00] {Threei} don't tell me no one took UAUA
[11:00] {peterg} took it
[11:00] {Threei} whew
[11:01] {Chaeron} in
[11:01] {peterg} got +.15 ty
[11:01] {Threei} easiest trade in I don't know how long
[11:01] {dino} v stopped -.17
[11:02] {Threei} CME...
[11:02] {peterg} cme
[11:02] {Threei} ugh
[11:02] {Threei} charts nice for short
[11:02] {Threei} but I just can't bring myself to call a stock with 1 dollar spread
[11:03] {Chaeron} took +0.15 on UAUA thanks, Threei
[11:11] {Threei} out in full UAUA
[11:11] {Threei} +.45
[11:13] {peterg} whats up with rimm?
[11:14] {Threei} no idea
[11:14] {peterg} usual i spose
[11:15] {magoo} actually rimmvery predictable...aapl fell..rimm much delayed but followed
[11:15] {magoo} earlier..aapl up..rimm much delay but folloed
[11:16] {Threei} watching UAUA for bounce
[11:16] {Threei} .81 long
[11:16] {Threei} if holding above .70
[11:20] {Threei} wow MS
[11:20] {Threei} I don't see new news
[11:20] {Threei} last one was
[11:20] {Threei} WSJ SOURCE: MS SEEKING A 'CREATIVE DEAL' WITH WB, TALKS STILL ONGOING WITH CHINESE INVESTOR FOR STAKE
[11:20] {Threei} {WB}
[11:21] {Threei} bounce time
[11:21] {Threei} in
[11:21] {Threei} 16.90 stop
[11:21] {magoo} ms or wb bounce?
[11:21] {Threei} ms
[11:21] {Threei} half out .44
[11:22] {Threei} AIG
[11:22] {Threei} NEW CEO LIDDY: INTENTION IS NOT TO LIQUIDATE, HOWEVER AN ANSWER ON DIVESTITURES OF CERTAIN UNITS WILL HAPPEN IN A PERIOD OF WEEKS
[11:22] {Threei} - Remarks that the company has full intentions of paying back the Fed loan
[11:23] {dino} lol
[11:24] {Threei} stop to 16.99
[11:25] {dino} v sm l .60
[11:26] {Threei} offering second half 18.10
[11:26] {Threei} want a buck
[11:26] {magoo} l aapl sm .25
[11:27] {Chaeron} quit trying to be dino, will ya vad?
[11:27] {Threei} got distracted with MS, missed UAUA
[11:27] {Threei} anyone got it?
[11:28] {magoo} i think it was invalidatesd
[11:28] {Threei} OK... missed the development
[11:29] {peterg} got ms for small change due to hesitation but no regret thks
[11:29] {Threei} :)
[11:29] {Threei} stock ias horribly fast and volatile
[11:30] {Threei} can't blame you for desire to keep exposure to a minimum
[11:31] {Threei} awww UAUA
[11:31] {Threei} direct hit MS
[11:31] {Threei} +1.00
[11:31] {magoo} out MS .19 BEAUTY vad
06[11:31] * Threei slaps Chaeron around a bit with a large trout
[11:31] {Chaeron} :)
[11:31] {Threei} welcome sir
[11:32] {dino} gj
[11:32] {Threei} and magoo
[11:32] {Threei} don't call me beauty
[11:32] {Threei} ever again
[11:32] {Threei} people will start having funny thoughts
[11:33] {dino} at thi rate ilmn should cx the spilt for monday
[11:33] {magoo} gonna be hartd to comply
[11:33] {dino} v stop to .99
[11:34] {peterg} went back to the well MS for another +.20. out at .53
[11:34] {Threei} careful with such chasing entires peter
[11:34] {dino} out v .99 +.39
[11:34] {Threei} momo is momo, it's utilizable (if that's a word)
[11:34] {peterg} i likes it
[11:35] {Threei} but overall, it's dangerous
[11:35] {dino} lol
[11:35] {peterg} what, I need to learn setups, too?
[11:35] {dino} risk is your friend, dance w/it
[11:35] {Threei} ummm... sorry, didn't want to imply so much work :)
[11:36] {peterg} thk you
[11:36] {Threei} great... now I am getting lectured about risk {G}
[11:39] {dino} :)_
[11:43] {Threei} TV, mafia leaders plead guilty, plea bargain with judge
[11:43] {Threei} Don Corleone is happy he didn't live to see this
[11:46] {Threei} VIX VOLATILITY INDEX MOVES TO HIGHEST LEVEL SINCE OCT 2002; ABOVE THE JAN 22 SPIKE TO 37.57
[11:47] {Threei} WHITE HOUSE: THREATENING VETO ON THE COMMODITIES SPECULATION LEGISLATION
[11:47] {Threei} {USO IYM}
[11:54] {Threei} market feels like another breakdown is coming
[11:54] {Threei} if NQ shows sharp red bar, UAUA is short
[11:58] {Threei} bounced instead
[12:01] {magoo} today seems alot harder than yester
[12:02] {dino} indeed magoo, indeed
[12:03] {Threei} dunno
[12:04] {Threei} feels qyuite easy for me
[12:04] {Threei} buck on MS, 45 cents on UAUA
[12:04] {Threei} something else
[12:04] {Threei} ummm
[12:04] {Threei} 17 break MS...
[12:04] {Threei} scary but worth a try
[12:04] {Threei} smallish shares
[12:05] {Threei} asctual break only, no aggressive entries
[12:05] {magoo} short?
[12:05] {Threei} yes
[12:05] {Threei} 15-20 cents stop
[12:07] {Threei} half out
[12:07] {peterg} dang, wish I could play but gotta go for 2 hrs. Good hunting
[12:07] {Threei} got .60 cover on first half
[12:08] {Threei} .11 stop
[12:09] {Threei} out
06[12:09] * Threei slaps magoo around a bit with a large trout
[12:09] {Threei} how hard was that?
[12:09] {magoo} nice
[12:11] {Threei} NY AG TO MAKE ANNOUNCEMENT REGARDING SHORT SELLING TODAY
[12:11] {Threei} anyone cared to ask how come china market dropped 70% from its high - and there is no shorting allowed over there?
[12:12] {Threei} window dressing instead of real solutions...
[12:12] {Threei} we need office reconstruction, not redecoration
[12:12] {dino} exactly
[12:14] {dino} skf non avail cyber
[12:15] {dino} not
[12:15] {Threei} available here
[12:15] {Threei} want me to short it for you?
[12:16] {Threei} where do you want me to cover?
[12:17] {Threei} sorry dino... in absence of instructions I covered .70
[12:17] {Threei} from 145.30
[12:17] {dino} yes and cover at 133
[12:17] {Threei} ugh
[12:18] {Threei} OK, will reshort
[12:18] {Threei} say when
[12:18] {dino} lol
[12:18] {dino} and gj
[12:18] {Threei} ty
[12:19] {Threei} in 146.30
[12:19] {Threei} where is stop?
[12:20] {Threei} out 145.6
[12:21] {Threei} it's fun
[12:21] {Threei} doesn't look like short for now
[12:25] {Threei} BK
[12:25] {Threei} REPORTEDLY A BANK OF NY MELLON INSTITUTIONAL FUND THAT WORKS LIKE A MONEY MARKET FUND HAS FALLEN TO LESS THAN $1/SHR
[12:27] {Threei} CNBC REPORTS THAT PUTNAM IS PLANNING TO CLOSE A FUND
[12:31] {Threei} GS
[12:31] {Threei} HEARING GOING PRIVATE RUMORS BEGINGING TO CIRCULATE
[12:33] {dino} ntrs blood
[12:33] {_petike} what is the GS?
[12:34] {Threei} Goldman Sachs
[12:34] {_petike} many thanks;-)
[12:35] {dino} private would do away w/mark to market
[12:35] {Threei} I don't know how to estimate impact of this on financial swector
[12:36] {dino} ntrs 4 days 89-53
[12:36] {Threei} too many implication,s, too few precedents
[12:37] {Threei} WHITE HOUSE: SEC'S COX HAS THE FULL SUPPORT OF PRESIDENT BUSH
[12:37] {Threei} 'ggod job coxie"?
[12:38] {Threei} MS new 52 weeks low
[12:39] {Threei} GS, mama mia
[12:39] {Threei} - The comment comes in the wake of suggestions from Republican Presidential candidate McCain that Cox be fired for his role in the credit crisis.
[12:39] {Threei} {Cox} there you have it, now I know how I vote
[12:44] {dino} gs down about 100 pts in a week
[12:45] {Threei} 15.25 is MS's line of defense
[12:45] {Threei} worth a shot on a short side if breaks it
[12:46] {dino} rumors of hedge fund group trying to break gs, ms
[12:47] {dino} realmoney
[12:48] {Threei} well
[12:48] {Threei} they are doing a heck of a job
[12:49] {dino} so much for the new no naked shorting
[12:50] {Threei} uhhu
[12:51] {Chaeron} UHHU not shortable on Laser
[12:52] {patience} gold climbing nicely, happiness :)
[12:52] {Threei} cover half
[12:52] {Threei} MS
[12:52] {dino} america is on sale
[12:52] {patience} its your dollar that i am worried about dino
[12:54] {dino} out of my hands
[12:54] {patience} no doubt
[12:54] {dino} but it weill be weakened, rate cuts are coming soon
[12:54] {patience} seems likely, here also
[12:56] {dino} around the world
[12:56] {Chaeron} Is this the beginning of the 3rd wave that you were expecting Threei for final flush?
[12:56] {dino} think of this, russian markets closed, those people are selling whatever they can in other markets then
[12:57] {dino} leh tied up in bankruptcy, so their "clients' are selling everything else can't get their leh funds
[12:57] {dino} and so on......
[12:58] {dino} basically an old fashioned bank run, but w/investment banks
[12:59] {patience} interesting article here on bank 'ring fences ' http://londonbanker.blogspot.com/2008/09/ring-fences-rustlers-and-global-bank.html
[12:59] {dino} crowds yelling "get me out"
[12:59] {Threei} mama mia
[12:59] {Threei} MS
[12:59] {Threei} anyone played it short?
[12:59] {Chaeron} was just going to say
[13:00] {dino} gs lows
[13:00] {_petike} i just was not sute is it could go down more
[13:00] {_petike} now im regret it
[13:01] {Chaeron} remember this.... they can always go to zero (LEH)
[13:02] {Threei} STT
[13:02] {Threei} next financial to go
[13:02] {Chaeron} crazy
[13:03] {patience} scary
[13:03] {Threei} halfed already
[13:03] {Threei} in one day
[13:03] {Chaeron} too scary and froggy to trade
[13:04] {dino} i'm confused
[13:05] {Threei} where is cramer
[13:05] {Threei} we need him to tell us what to do
[13:06] {Chaeron} Sept. 18 (Bloomberg) -- The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way.
[13:07] {dino} lol, and they want the presidency too
[13:07] {Threei} is this a joke?
[13:07] {Chaeron} ummm... no
[13:07] {Threei} wow
[13:07] {Threei} lol
[13:08] {Chaeron} http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aVPBaUbYV_qQ
[13:08] {patience} who owns bloomberg?
[13:08] {Chaeron} Michael
[13:08] {dino} news company
[13:09] {Chaeron} One reason, Senate Majority Leader Harry Reid said yesterday, is that ``no one knows what to do'' at the moment.
[13:09] {patience} i know
[13:09] {hawkfan4} 13:05 FSA bans short selling of financial companies; FSA ban on financial co short selling from 2300 GMT Thurs - DJ
[13:09] {hawkfan4} The FSA (Financial Services Authority) is the UK's independent financial regulator
[13:09] {patience} few people will be stopping at the liquor store on the way home from work tonight
[13:09] {dino} synt sm l .35
[13:10] {Chaeron} House Financial Services Committee Chairman Barney Frank said Congress could give the Federal Reserve authority to pay interest on bank reserves sooner than originally scheduled.
[13:10] {Chaeron} ``They already have the authority; it's just a question of moving it up a couple of years,'' Frank, of Massachusetts, told reporters yesterday. ``We're trying to work that out.''
[13:10] {Threei} WB
[13:11] {Threei} interesting
[13:12] {dino} i'm appalled, the senate actually has to work
[13:13] {Chaeron} From Times OnlineSeptember 18, 2008
[13:13] {Chaeron} Russia ratchets up US tensions with arms sales to Iran and Venezuela
[13:15] {Threei} NYT REPORTEDLY FILES AN 'EDITOR'S NOTE' WITH REGARDS TO STORY PUBLISHED ON MS AND CITIGROUP
[13:15] {Threei} {C}
[13:18] {Threei} WB explosion
[13:19] {Threei} NYT REPORTEDLY FILES AN 'EDITOR'S NOTE' WITH REGARDS TO STORY PUBLISHED ON MS AND CITIGROUP
[13:19] {Threei} - Note earlier there were denials over attributions of comments from MS CEO Mack and Citigroup's Pandit
[13:19] {Threei} - Editor's note has now clarified previous report from two individuals who were briefed on the conversation, sources cited in article were 'not present' at conversation where Mack was reportedly quoted as sayin " if we dont have a partership we will not make it', should not have published story without first doing more research {C}
[13:24] {Threei} mags... please make a note somewhere that I overdelivered on a promise to call 2 points for you today
[13:27] {dino} bpfh
[13:28] {magoo} see vad...u perform better when i put the "heat" on u
[13:28] {magoo} NICE
[13:32] {Threei} STATEMENT FROM STATE STREET REGARDING MARKET MISUNDERSTANDINGS
[13:32] {Threei} - confirms that, as previously disclosed, it does not believe consolidation of its conduits is required. State Street confirms that even if it had to consolidate its conduits, it would remain well capitalized with ample sources of liquidity. The company raised $2.8 billion in equity capital in early June 2008 and does not currently have any plans to raise additional equity.
[13:32] {Threei} - NAV) of State Street Global Advisors' money market funds has never declined below $1, including in its Short Term Investment Fund (STIF), Government Short Term Investment Fund (GSTIF) and the Navigator Securities Lending Trust
[13:32] {Threei} - These funds do not have any unsecured exposure to AIG, Lehman, Washington Mutual, Wachovia, Merrill Lynch or Morgan Stanley.
[13:34] {Threei} huge rebound
[13:34] {Threei} in all financials
[13:34] {dino} skf vad 131
[13:34] {Threei} looks like this last round of selloff was caused by unsabstatiated rumors
[13:34] {Threei} at least that'as the story for nwo
[13:34] {Threei} now
[13:35] {Threei} I missed that short dino... :(
[13:35] {Threei} sorry
[13:35] {magoo} i lost short on it vad..had it sh 146
[13:35] {magoo} SIGH
[13:36] {Threei} unbelieavble swings today
[13:37] {magoo} a daytraders paridise
[13:37] {Threei} unfortunately this rebound happened on discussions beyond the curtain
[13:38] {Threei} behind too
[13:39] {magoo} where the hells evadresal(:
[13:39] {Chaeron} wow... we could have made 15+ points on GS :)
[13:39] {dino} woof
[13:40] {dino} cedc sm l .04
[13:41] {Threei} STT pullback
[13:42] {dino} you want to cry chaser, i missed cme at 313.31
[13:42] {dino} chaer
[13:43] {Threei} time for bounce SKF
[13:43] {magoo} where?
[13:44] {Threei} late
[13:44] {Threei} got it 10.40
[13:44] {Threei} 130.40
[13:44] {Threei} half out +2
[13:44] {magoo} in 131.88...ouit 132.34
[13:44] {Threei} lol
06[13:44] * Threei slaps magoo around a bit with a large trout
[13:44] {magoo} right before i assked
[13:45] {magoo} kind of revenge trade
[13:45] {magoo} STT losing ground
[13:48] {Threei} short or no short
[13:49] {dino} cedc stopped -.40 that thing is f#cked
[13:49] {Threei} WSJ CONFIRMING EARLIER RUMORS THAT CALPERS (CALIFORNIA PENSION FUND) WILL NO LONGER LEND SHARES OF GOLDMAN AND MORGAN STANLEY FOR SHORTING
[13:49] {Threei} - confirms earlier rumors
[13:52] {Threei} WB... jeez
[13:53] {Threei} MS
[13:53] {Threei} REPORTEDLY CEO HAS TOLD SENIOR EMPLOYEES THAT HE IS NOT SELLING SHARES - UNCONFIRMED REPORT
[13:54] {Chaeron} no, he has his broker doing it for him.... :)
[13:55] {dino} enron guys said same thing
[13:56] {Threei} lol
[13:57] {Threei} btw
[13:57] {Threei} in case you guys find tis market boring, and need some additional entertainment,
[13:57] {Threei} tomorrow is quadriple witching
[13:57] {Threei} aren't you glad something's going to inject a little volatility?
[13:58] {Chaeron} yea! more 10+ point trades!
[13:58] {dino} lol
[14:00] {dino} stt dropping again
[14:03] {dino} out synt .85 +.50
[14:04] {dino} ilmn sm l .08
06[14:06] * laserdave1 slaps Threei around a bit with a large trout
[14:06] {laserdave1} hey guys
[14:06] {laserdave1} and laser traders
[14:06] {laserdave1} please note
[14:06] {Threei} hey dave
06[14:06] * Chaeron slaps laserdave1 around a bit with a large trout
[14:06] {laserdave1} as far as overnights
[14:07] {laserdave1} we are not allowed to hold short any shares overnight
[14:07] {Threei} lol
[14:07] {laserdave1} sec rule
[14:07] {laserdave1} not sure for how long?
[14:07] {Threei} must be crazy to do it anyway
[14:07] {laserdave1} u will be pounded out
[14:07] {laserdave1} very true
[14:07] {laserdave1} btu out of some fluke i dont want someone pounded out in after hours with little market
[14:08] {laserdave1} ya holding is nuts
[14:08] {laserdave1} :)
06[14:08] * magoo slaps laserdave1 around a bit with a large trout
06[14:08] * magoo slaps laserdave1 around a bit with a large trout
06[14:08] * magoo slaps laserdave1 around a bit with a large trout
[14:08] {magoo} pound that'
[14:08] {Chaeron} roflol
[14:09] {Threei} US HOUSE HAS REPORTEDLY SENT A BILL TO THE SENATE THAT WOULD PLACE LIMITS ON OIL POSITIONS FUTURES
[14:09] {Threei} - Note the White House threatened to veto the commodity trading bill earlier today{USO}
[14:09] {Threei} NY AG CUOMO: TO INVESTIGATE SHORT SELLING AT LEHMAN AND AIG, INCLUDING THE "SPREADING OF FALSE INFORMATION"
[14:09] {Threei} - says fully committed to prosecuting wrongdoers
[14:09] {Threei} - wants SEC to freeze short selling of financial stocks{AIG LEH}
[14:10] {Threei} investiagte the imbecil who published false news on UAUA while you at it
[14:15] {judijim} take care for today we're done. It's been great watching and learning in the trading room
[14:15] {Threei} take care jj, have fun and good luck
[14:15] {judijim} tomorrow will be our last day but staying plugged into scanner. Be back tomorrow
[14:16] {dino} cya jj
[14:17] {magoo} bye jj:)
[14:21] {dino} hmmm only 265 pt range today
[14:21] {dino} 365
06[14:24] * laserdave1 slaps Threei around a bit with a large trout
[14:24] {Threei} hmmm
[14:24] {Threei} what was that for
[14:26] {laserdave1} ummm cuz i think your really cool dood
[14:26] {magoo} u see my assault upon u?
[14:28] {dino} sm risky l stt .60
[14:30] {dino} stop is .19 things' like pulp
[14:31] {magoo} pulp can move baby
[14:33] {peterg} makes my guts pulp
[14:33] {peterg} just watching
[14:34] {dino} stopped
[14:34] {peterg} brave soul
[14:35] {dino} wynn
[14:35] {dino} lol
[14:36] {dino} ilmn stopped -.50 sm
[14:49] {Threei} US SEN SCHUMER WILL REPORTEDLY ANNOUNCE AN RTC-LIKE PLAN TO CALM MARKETS IN THE FINANCIAL SECTOR
[14:50] {Threei} RTC-like?
[14:53] {dino} resolution trust corp, what saved the savings and loan in the 80s
[14:54] {Threei} what does it involve
[14:55] {dino} gov't corp, picks up the bad loans on properties, then sells them out
[14:55] {dino} off banks balance sheets
[14:55] {Threei} got it
[14:56] {Threei} sounds like positive for banks
[14:56] {Threei} why new wave of seling hits :)
[14:56] {dino} it would be positive, imo
[14:57] {Threei} yes GS is dropping, SKF is spiking
[14:57] {dino} as for selling, who knows
[14:57] {Threei} yes = yet
[14:57] {Threei} market is scared out of its mind
[14:57] {Threei} doesn't know who to listen to
[15:00] {dino} stt spike
[15:00] {dino} v sm l .
[15:02] {magoo} jesus..up 195 now
[15:02] {dino} out 47.50 +2.00
[15:02] {dino} way soon
[15:02] {Threei} CNBC'S GASPARINO: TREASURY SEC PAULSON EVALUATING AN RTC TYPE SOLUTION IN ADDITION TO US SEN SCHUMER
[15:02] {Threei} {XLF}
[15:02] {dino} 47.67, +2.17
[15:03] {Threei} wow
[15:03] {Threei} nmow market is liking it
[15:05] {dino} ok 400 pt range now patience
[15:06] {dino} sm l v .02
[15:07] {dino} wynn wow
[15:12] {dino} v stop to .64
[15:13] {magoo} MAN
[15:13] {magoo} vad pick something ANYTHINGGGGGGGGGGGGGG
[15:13] {dino} make v .82
[15:13] {Threei} mags they move so fast and change so suddenly, calls are useless
[15:14] {magoo} i know..i just hit aapl but could never call it in time
[15:14] {magoo} just funnin with ya
[15:14] {Threei} SKF is playable off GS if you can keep one eye on one and second on another
[15:17] {dino} out v 65.52 +1.50
[15:18] {dino} wow, i just turned a flat day to up nicely
[15:18] {Threei} :)
[15:21] {dino} and on that note, calling it a day. son's last baseball game of year at 4:00
[15:21] {Threei} take care dino :)
[15:22] {dino} u2 all
[15:22] {Threei} CNBC HAS SPOKEN TO THE WHITE HOUSE AND RECEIVED NO COMMENT WITH REGARDS TO AN RTC TYPE SOLUTION
[15:22] {dino} down we go, lol
[15:23] {Threei} US TREASURY REPORTEDLY DECLINES COMMENT ON WHETHER PAULSON IS CURRENTLY IN DISCUSSIONS WITH CONGRESS REGARDING AN RTC STYLE SOLUTION
[15:28] {cosmo} RTC raly?
[15:36] {Threei} seasickness
[15:40] {magoo} on helluva range on GS today
[15:40] {Threei} gosh, look SKF range
[15:41] {Threei} 45 points?
[15:48] {patience} what a ride today
[15:48] {Threei} another day with no precedent in my memroy
[15:49] {cosmo} that bad?
[15:50] {magoo} cant lose the feeling that i should have made alot more money than i did today
[15:50] {patience} not a level playing field magoo...they keep changing the rules
[15:50] {magoo} 20 point aapl range
[15:51] {Threei} yes cosmo... takes 3-5 minutes in the morning to remember my name
[15:53] {cosmo} if i cant remember, it wasnt important...
[15:53] {Threei} that's how I console myself
[15:53] {Threei} if I remember I need consolation
[15:54] {cosmo} or a hitman...
[15:56] {magoo} dave..we allowed to short afterhours??
06[15:56] * magoo slaps laserdave1 around a bit with a large trout
06[15:56] * magoo slaps laserdave1 around a bit with a large trout
[15:56] {magoo} [15:56] {magoo} dave..we allowed to short afterhours??
[15:56] {magoo} [15:56] * magoo slap
[15:57] {peterg} good question
[15:57] {magoo} LASERDAVE
[15:57] {Threei} realize that if market gets thin and you don't cover in time, your position will be closed at some point at market
[15:58] {Threei} that's your risk
[15:58] {magoo} well, need to know if u only need to close out before 6 p.m
06[15:59] * Threei slaps laserdave1 around a bit with a large trout
[15:59] {magoo} LASERDAVE
[16:00] {Threei} Ok guys, thank you all
[16:00] {Threei} have a good evening
[16:00] {Threei} see you tomorrow for more excitement
[16:00] {magoo} u 2 vad
[16:00] {peterg} bye all

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