Feb 24 2009

That was a great day for both, us and the market (well, it was time for the market, wasn't it). I got a strong feeling that the relentless selling of late wasn't in the cards today, alerted about no shorting for today, and we started hunting for longs. Couple stops turned out to be just shakeouts and were easily compensated by winning plays, both scalps and day trades. FAS, HIG, BAC, RIMM - all performed for us and made a day nicely profitable AND fun.

               

Session Time: Tue Feb 24 00:00:00 2009

[07:45] {nemo} mornin'

[07:53] {magoo} morning

[08:01] {Threei}  Good morning

[08:02] {Threei}  CSUN

[08:02] {Threei}  SIGNS SOLAR CELL SALES AGREEMENT WITH U.S. BASED MANUFACTURER OF PHOTOVOLTAIC PRODUCTS

[08:07] {Threei}  Credit Markets:

[08:07] {Threei}  - WSJ notes that warning signs are once again appearing in credit markets, noting that the revival in risk appetite seen at the start of 2009 has faded.

[08:07] {Threei}  - Alarge part of the problem relates to a lack of clarity on how governments plan to inject new equity into banks and take bad assets off balance sheets.

[08:07] {Threei}  duh

[08:07] {Threei}  - The spread between US dollar Libor and the overnight indexed-swap rate is now back above 1.0 percentage points versus a low of about 0.9 percentage point in Jan.

[08:07] {Threei}  - Also spreads on nearly all tranches of the CMBX index have hit record wide levels in Feb after a Jan rally.

[08:07] {Threei}  - Furthermore, corporate defaults and ratings downgrades are accelerating.

[08:12] {nemo} slightly tongue in cheek...but we might as well just buy FAZ and go on vacation :)

[08:17] {Threei}  yeah, and get decimated when market decides it had enough :)

[08:17] {Threei}  tongue in cheek too, but here is the thought:

[08:18] {nemo} [08:12] {nemo} slightly tongue in cheek...

[08:18] {Threei}  our powers that be woould do the best thing by announcing:

[08:18] {Threei}  you know what, we don't know what to do and we are not going to do anything

[08:18] {nemo} yep

[08:18] {Threei}  we would have sold 1000 points in 15 minutes

[08:19] {Threei}  aand that would be the end of it

[08:19] {nemo} Nature is Unkind...in the end you cannot avoid the principle

[08:19] {Threei}  realizing that we are on our own, market would start healing

[08:20] {Threei}  MSFT CEO BALLMER: THE US IS EXPERIENCING AN "ECONOMIC RESET" THAT MAY TAKE SEVERAL YEARS - SHAREHOLDER MEETING

[08:20] {Threei}  - Notes Windows Mobile business is not profitable.

[08:20] {Threei}  BALTIC DRY BULK INDEX -3.6%, SECOND STRAIGHT DECREASE

[08:20] {Threei}  feeling in the air IMO:

[08:20] {Threei}  it's getting so dark that resolution is near

[08:23] {larisa} good morning

[08:23] {Threei}  larisa :)

[08:24] {larisa} threei :)

[08:25] {Threei}  *TED SPREAD OPENS AT 97 BPS V 97BPS PRIOR; LIBOR-OIS SPREAD OPENS AT 102BPS V 102BPS PRIOR

[08:31] {Threei}  FDIC'S BAIR: HIGHLIGHTS NEED FOR BANK STRESS TESTS TO DETERMINE CAPITAL REQUIREMENTS

[08:31] {Threei}  - Notes large banks have adequate regulatory capital and are "fine for now."

[08:31] {Threei}  - Reminder: Back on 2/23, the Treasury and Fed jointly stated that the US govt stands firmly behind the banking system and confirmed their intent to begin stress testing on Feb 25

[08:31] {Threei}  do we get to know the results of tests?

[08:32] {cosmo} sounds too stressful

[08:33] {Threei}  sure... but banks named as successfully tested would have posted serious rallies

[08:35] {cosmo} RMBS has sucessful day in court

[08:36] {cosmo} but they're not a bank

[08:36] {Threei}  news is quite confusing on it

[08:36] {Threei}  02/23/09 04:15pm

[08:36] {Threei}  [RMBS] Rambus Inc Reportedly Hynix wins ruling in California district court against Rambus in DRAM chip patent case

[08:36] {Threei}  - The ruling will allow Hynix to continue chip sales; Rambus had sought an injunction on the sales.

[08:36] {Threei}  - Hynix to pay Rambus royalties of 4.25% for DDR SDRAM

[08:37] {Threei}  02/23/09 09:02pm [000660.KS] Company said it will file an appeal vs the US court on royalties paid to Rambus, says sales in US will continue uninterrupted

[08:38] {cosmo} yes...confusing

[08:42] {nemo} Malzeit Herrn K!

[08:44] {magoo} vad..question..if u do not say half lot..are u still calling full lots? onl;y ask because of this brutal environmt

[08:44] {KSystems} hello :)

[08:44] {Threei}  ks :)

[08:44] {Threei}  yes mags

[08:44] {Threei}  on thick stocks with a stop tight enough

[08:45] {Threei}  what's the point to go to half lot on something that has very little slippage and stop, say, 10-15 cents

[08:45] {nemo} Fear

[08:46] {Threei}  fear of what

[08:46] {Threei}  your stop is your safety net

[08:46] {Threei}  loss is predetermined and built into expectations

[08:46] {nemo} I agree...it's acknowledging the emotional content

[08:47] {Threei}  our acknowledgment of this brutal environment is manifested in being picky

[08:47] {Threei}  not overtrading

[08:47] {Threei}  staying in the trenches

[08:47] {nemo} right there with ya'  

[08:47] {Threei}  but, when the trade comes along

[08:47] {Threei}  it's business as usual

[08:48] {Threei}  normal stop setting, normal sizing

[08:48] {Threei}  expectations on profit side may be somewhat different,

[08:48] {magoo} ok

[08:48] {Threei}  since volatility dictates more scalping

[08:48] {nemo} Not to speak for Mags specifically, but he being a hunter doesn't usually have to worry about being the prey.  This market...sometimes you're less sure who's predator and who's prey

[08:49] {Threei}  but look at our trades lately,

[08:49] {Threei}  we had quite a few sizeable wins

[08:49] {cujo} good morning

[08:49] {Threei}  cujo :)

[08:49] {Threei}  so, you never know

[08:50] {Threei}  just position yourself right, manage the trade and let market do its thing

[08:50] {fernp} Hello everybody

[08:51] {nemo} absolutely...isn't that the beauty, albeit vicious beauty of the taskmaster we call the market.  It forces a rigid rational discipline to overcome the natural emotional instincts

[08:51] {Threei}  fern :)

[08:51] {cujo} hello fern

[08:54] {Threei}  MDRX looked so good on daily

[08:54] {Threei}  broke 10- yesterday, I intended to watch it for slight pullback, holding 10 and breaking yesterday's high

[08:55] {Threei}  not sure what happened, I see just a downgrade

[08:56] {Threei}  PIMCO'S BILL GROSS: U.S. AND GLOBAL FINANCIAL SYSTEMS REQUIRE CREDIT CREATION AND FORECLOSURE PREVENTION, NOT BANK NATIONALIZATION AS CURRENTLY CONTEMPLATED BY SOME - MARCH INVESTMENT OUTLOOK

[08:56] {Threei}  - "If the government cannot substitute credit to the same extent that it is disappearing from the private system, then the U.S. and global economies will retreat"

[08:56] {Threei}  - "Liquidate debt (credit) to 2003 totals and you just might reduce economic activity (GDP) to 2003 numbers as well."

[08:57] {Threei}  - "There is fear on foreign shores that even U.S. agency debt may not be honored and that U.S. Treasury debt itself, when repoed as in prior years, may now suffer from counterparty risk. Global willingness to accept American dollars is being tested. Granted, the U.S. currency has appreciated strongly against its counterparts during most of this crisis, but technical short covering as opposed to a flight to quality may have been the dominant consideration. Watch the dollar. If it falls hard, there may be nothing policymakers can do to restore the ensuing financial chaos."

[08:57] {Threei}  one more doomsayer

[08:58] {cosmo} the dollar gets a stress test?

[08:58] {Threei}  I guess

[09:00] {nemo} Duh...that's the point...this stuff is disappearing and there is no way to replace it because all methods will appear artificial.  Unfortunately system expand and contract...you can not have permanent expansion...it has been artificially generated and the system is snapping back

[09:00] {Threei}  *Q4 SP_CASE-SHILLER US HPI Y/Y: -18.23V -17.2%E; US HPI: V 150.0 PRIOR

[09:00] {Onix} gm all

[09:00] {Threei}  onix :)

[09:01] {Threei}  DEC CASE SHILLER HOME PRICE INDEX: 150.66 V 154.59 PRIOR; COMPOSITE 20 INDEX: -18.55% V -18.3%E

[09:01] {Threei}  *Q4 SP_CASE-SHILLER US HPI Y/Y: -18.23% V -17.2%E; US HPI: 139.14 V 150.0 PRIOR

[09:03] {cosmo} ....so it IS just a zero sum game after all....

[09:03] {dino} gm all

[09:04] {nemo} no...it's a system whose natural dynamics have been thwarted.  The principles are unavoidable, and the farther they are stretched the more vicious the recoil

[09:05] {Threei}  dino :)

[09:06] {pita} morning seekers of the green...

[09:06] {Threei}  pita :)

[09:07] {dino} or pain

[09:10] {Threei}  I am not that giddy about shorting so far as I was for the past week

[09:11] {Threei}  spring is coiled and market is tired of endless selling

[09:11] {Threei}  sudden rally for no good reason may come out of nowhere

[09:11] {dptl} good morning all

[09:12] {Threei}  dp :)

[09:12] {cosmo} that rally will come after bad news too

[09:12] {dino} is there any other kind lately?

[09:12] {Threei}  could be on anything

[09:12] {Threei}  in spite of bad news, on any hint of good news or without news at all

[09:13] {Threei}  it's not that I expect it to happen and hunt for it

[09:13] {Threei}  rather, I am careful with shorting as probability of that rises

[09:15] {cosmo} i am comfortable being the 'trap door spider'

[09:15] {cosmo} ...waiting

[09:18] {cosmo} a final fanatical sell off that reverses with just a half hour to go in the trading day.... its been a long time...

[09:18] {cosmo} but its classic

[09:20] {magoo} shorts may cover AHEAD of speech tonite

[09:21] {magoo} we are down relentless here

[09:21] {magoo} than pop tomorrow and crash  after relizeobama is lost

[09:21] {Threei}  remind me what today's speech is about?

[09:22] {Threei}  I am getting lost in them

[09:22] {cosmo} slice of the onion

[09:22] {nemo} It's Tuesday so ther must be a speech

[09:22] {Threei}  ok

[09:22] {Threei}  lol

[09:23] {magoo} he'll be on tv today giving speech as a prelude to tonites speech

[09:23] {Threei}  you guys are as relentless as sellers in recent market

[09:23] {dino} and don't forget his "lecture" about responsibility

[09:24] {Threei}  be back in 5

[09:30] {Threei}  open we are

[09:31] {cosmo} onxx

[09:31] {cosmo} ...spread looks sloppy

[09:32] {cosmo} 32.45 hod fyi

[09:33] {ese} morning

[09:33] {Threei}  ese :)

[09:34] {Threei} Long Setup:  STT  .45 half lot

[09:34] {Threei}  if stays above .25

[09:34] {nemo} blew by that

[09:36] {Threei}  no worky

[09:36] {nemo} jumpy

[09:36] {Threei}  that's why half lot

[09:36] {nemo} and dramamine

[09:37] {Threei}  this sharp market spike is exactly what I meant

[09:37] {Threei}  I just don't see following stocks

[09:37] {Threei}  RIMM did follow

[09:38] {nemo} oy!

[09:40] {Threei}  PREVIEW: FEB CONSUMER CONFIDENCE DUE OUT AT 10AMET

[09:40] {Threei}  **consensus expectation: 35.0e v 37.7 prior (37.7 was a record low for the index)

[09:40] {Threei}  - Most analyst estimates range from 31 to 37 area

[09:40] {magoo} u got a read on Q?

[09:40] {Threei}  ONXX non stop

[09:44] {cosmo} my onxx stopped at 33.14

[09:45] {cosmo} ...prematurely

[09:48] {magoo} STT rinse-a-roo boss

[09:48] {Threei}  yeah

[09:49] {magoo} feels up..but it pulled back hard

[09:49] {Threei}  I can't get a feel whether we are in for continuation or it's just a brief snapback followed by resumtion of selling

[09:49] {cosmo} MRVL hod = 7.22  fwiw

[09:50] {nemo} I'm going with snap back

[09:50] {magoo} UP vad

[09:50] {Threei}  instinct says up

[09:50] {Threei}  al least into numbers and Ben's testimony

[09:50] {magoo} agree

[09:50] {nemo} My...that's hedging your position

[09:51] {Threei}  I have none

[09:51] {nemo} hedging your opinion?

[09:52] {Threei}  GM

[09:52] {Threei}  US TREASURY REPORTEDLY MEETING WITH AUTO LEADERS THIS WEEK- UNCONFIRMED REPOT

[09:53] {Threei}  ONXX finally decent pullback

[09:53] {Threei}  if we can get a selloff into 31.50 I'd get interested

[09:57] {Threei}  financials drag market down again

[09:57] {Threei}  look at GE

[09:57] {Threei}  BAC went red too

[09:59] {Threei}  *FEB RICHMOND FED MANUFACTURING INDEX: -51V -49E

[10:00] {Threei}  FEB CONSUMER CONFIDENCE: 25 V 35.0E

[10:00] {Threei}  FED'S BERNANKE: URGES STRONG ACTION TO STABILIZE MARKETS AND BANKS, SEES RECOVERY BEGINNING IN 2010 IF BANKS ARE STABILIZED - US SENATE TESTIMONY

[10:01] {Threei}  urges?

[10:01] {Threei}  he is Fed chairman for petes sake

[10:01] {Threei}  - Sees sharp contraction in first quarter

[10:01] {Threei}  - Reiterates there may be need for "exceptionally low rates" for some time

[10:03] {cosmo} unless you need a refi...

[10:06] {Threei}  DEC HOUSE PRICE INDEX: -0.1% V -1.7%E

[10:06] {cosmo} hmmm

[10:06] {Threei}  Q4 HOUSE PRICE PURCHASE INDEX Q/Q: -3.4% V -2.0%E

[10:07] {magoo} read RIMM vad}?

[10:07] {Threei} Long Setup:  RIMM  .60 half lot if stays above .45

[10:08] {nemo} fast

[10:08] {Threei}  over 1:1

[10:08] {ese} HURN dino

[10:08] {Threei}  and magoo... stop looking over my shoulder

[10:09] {Threei}  was typing RIMM alert as you asked :)

[10:09] {ese} long .01 1/2

[10:09] {ese} HURN

[10:10] {ese} risky.....big spreads

[10:10] {Threei}  RMBS

[10:11] {ese} this should be smaller than 1/2 lot....but i'm gonna roll with it

[10:12] {ese} stop is 39.50

[10:12] {magoo} out RIMM now .85 TY BOSS

[10:13] {dino}  gj

[10:13] {Threei}  welcome sir

[10:13] {ese} need help from indexes...........hello...knock knock....

[10:13] {Threei}  still, no looking over my shoulder

[10:13] {magoo} the new camera i installed is working well :)

06[10:13] * Threei orders urgent office debugging

[10:14] {dino} es, hurn 2 cent miss

[10:14] {dino} looking at it

[10:14] {dino} guides lower

[10:15] {ese} i'm in at .01 but could be out if indexes turn dn

[10:15] {ese} like now

[10:15] {dino} 37.59 52 week low fwiw

[10:15] {Threei}  watching RMBS for bounce

[10:16] {dino} dji gap fill

[10:16] {ese} out HURN .82

[10:16] {Threei}  8.60 area most lilely, if goes there

[10:16] {ese} lookin dn here more than up

[10:16] {ese} -.19

[10:16] {ese} gonna wait on it abit more

[10:17] {magoo} DINO MCD

[10:17] {dino} feels like yesterdays asei, whoosh down coming

[10:17] {dino} lay out at 38ish

[10:19] {Threei}  CECO

[10:19] {Threei}  HEARING STRENGTH ATTRIBUTED TO TAKEOVER CHATTER

[10:19] {Threei}  - APOL rumored as a potential acquirer

[10:19] {ese} back in HURN .97

[10:20] {ese} whoa...blink and it's .13

[10:21] {cujo} small scalp on that RMBS 

[10:21] {cujo} thanks Vad

[10:21] {Threei}  cujo :)

[10:21] {ese} nice cujo

[10:22] {cujo} thanks ese

[10:22] {magoo} u dog

[10:22] {cujo} sick dog this week...

[10:22] {magoo} mentally?:)

[10:22] {cujo} in addition to the rabies

[10:22] {cujo} no, cold...

[10:23] {Threei} Long Setup:  RIMM  .70 break half lot

[10:24] {nemo} gone already

[10:24] {Threei}  a bit late alert

[10:24] {cujo} in late .77

[10:24] {magoo} missed that 1

[10:24] {cujo} out .94

[10:24] {cosmo} slippery devel

[10:24] {magoo} back to the camera

[10:24] {Threei}  chasing a bit too much cujo

[10:24] {cujo} sry

[10:25] {cujo} that cold getting to my better judgement

[10:25] {Threei}  RMBS starts looking like real runner...

[10:26] {ese} ya nice looking 1min chart on RMBS

[10:26] {cujo} pullback into 9?

[10:26] {cujo} RMBS

[10:27] {Threei}  hard to tell

[10:27] {Threei}  jrcc

[10:27] {Threei}  never mind

[10:27] {dptl} ty rmbs +.30

[10:28] {Threei}  dp :)

[10:28] {cujo} nice trade DP

[10:28] {dptl} ty

[10:28] {Threei}  feels like serious 'ally in the making

[10:29] {ese} by this time yesterday market was red......?....pleasant change

[10:30] {ese} in and out where? dp on rmbs

[10:30] {dino} days not over yet

[10:30] {ese} true dino

[10:30] {ese} just thinking blood from a stone theory

[10:32] {cujo} I drink your milkshake, I drink it up.

[10:34] {dino} sm l hurn .00

[10:34] {Threei}  HIG pullback into .60 or just under for long entry

[10:35] {Threei}  yeah right HIG says

[10:37] {nemo} hig still good on pullback

[10:38] {Threei}  I believe so

[10:38] {nemo} damn should have taken it @ 6.66, but the numbers skeeved me!

[10:39] {Threei}  lol

[10:39] {cosmo} LBTYA

[10:40] {Threei}  market pulling back

[10:40] {Threei}  watch for buying resuming to grab HIG

[10:43] {Threei}  like clockwork

[10:43] {Threei}  if you got it under .60, 1:1 is reached

[10:43] {ese} stopped  out HURN .50

[10:43] {Threei}  half or scalp, your decision

[10:43] {Threei}  if taking half, stop to .54

[10:44] {ese} -.47 small shs 200

[10:44] {Threei}  FED'S BERNANKE:SEEING VERY HEAVY RISK AVERSION - Q&A

[10:44] {Threei}  no, really?

[10:44] {nemo} Looks like you're losing your crown...

[10:44] {Threei}  competition sure is growing

[10:45] {Threei} Long Setup:  CECO  .36

[10:45] {Threei}  stop under .30

[10:46] {Threei}  jeez RMBS

[10:47] {nemo} yeah, frickin' energizer bunny

[10:47] {Threei}  [09:10] {Threei} I am not that giddy about shorting so far as I was for the past week

[10:47] {Threei}  [09:11] {Threei} spring is coiled and market is tired of endless selling

[10:47] {Threei}  [09:11] {Threei} sudden rally for no good reason may come out of nowhere

[10:48] {Threei}  how about that for sudden rally

[10:48] {Threei}  for no good reason too, lol

[10:48] {nemo} woul you remin ceco this is a rally

[10:48] {nemo} remin

[10:48] {nemo} remind

[10:48] {nemo} fnnn "d"

[10:48] {ese} RMBS is classic vad....

[10:49] {Threei}  sqeezing hard

[10:49] {ese} thing of beauty

[10:49] {nemo} shoulda' chased

[10:50] {dptl} ty hig +.23

[10:50] {Threei}  :)

[10:51] {cosmo} 'greed' might be saved

[10:52] {Threei}  I give up

[10:52] {Threei}  Ben beat me to the pulp

[10:52] {Threei}  - says auto and housing industries will eventually be part of the recovery

[10:52] {nemo} Give what up?

[10:52] {nemo} oh

[10:52] {Threei}  my crown of captain obvious

[10:53] {nemo} Since an "O" is a bullseye, I think I'd rather let Bennie have it

[10:55] {dino} stopped hurn .56, -.44

[10:57] {Threei}  HIG is suspiciously obedient today

[10:57] {Threei}  pullback right into buying zone, very nice bounce

[10:57] {nemo} CECO is in a Mexican stand off

[10:57] {Threei}  let's see if it reapts the performance

[10:57] {Threei}  .80 - .85 zone to watch

[10:58] {Threei}  CECO no worky

[10:58] {nemo} got croaked on ceco

[11:04] {Threei}  this action inconsistent with rally continuation

[11:04] {Threei}  backing off for now

[11:06] {nemo} could you expound on that?

[11:06] {Threei}  ?

[11:06] {Threei}  which part?

[11:06] {nemo} what you consider inconsistent with continuation

[11:07] {Threei}  pullback into support,

[11:07] {Threei}  if the rally is in full steam still

[11:07] {Threei}  market should have bounced from there right away

[11:07] {Threei}  and proceed to back to the high quickly.

[11:07] {Threei}  Instead, it posted little bounce, returned to support and stalled there

[11:08] {nemo} ty

[11:08] {Threei}  remains unclear whether it reaks support now or regains strength

[11:08] {Threei}  but case for the rally is not as clear now

[11:10] {cujo} Vad, how do you take your Vodka?

[11:10] {Threei}  straight

[11:10] {cujo} Neat or with ice?

[11:10] {nemo} Now we're getting to important questions!

[11:10] {Threei}  neat

[11:11] {cujo} OUCH

[11:11] {nemo} room temp or do you keep it in the freezer?

[11:11] {Threei}  FED'S BERNANKE: BIG RISKS LAY WITH THE BIG FIRMS, STRESS TESTS WILL DETEMINE HOW MUCH AND WHAT TYPE OF CAPITAL BANKS SHOULD HOLD - Q&A

[11:11] {Threei}  - Notes that smaller banks can cause systemic risk if all affected by the same problem

[11:11] {Threei}  freezer

[11:11] {nemo} HIG broke resistance

[11:11] {Threei}  HIG newfound enthusiasm

[11:12] {magoo} read RMBS?

[11:12] {Threei}  toughie

[11:13] {magoo} whole dam mkt a toughie he he

[11:13] {Threei}  well

[11:13] {Threei}  I see it this way

[11:13] {Threei}  I am pretty much satisfied with strong feel of snapback coming, thus staying away from shorting

[11:14] {Threei}  a few trades worked, compensated nicely for couple stops,

[11:14] {Threei}  nothing earthshuttering,

[11:14] {Threei}  but full reversal of the trading aapproach in one day is not something you do

[11:14] {buyemsellem} I certify your accounting as accurate

[11:15] {Threei}  if you can get the feel of climate changing in time to keep you from old course

[11:15] {Threei}  and even get some crumbs along the new one

[11:15] {Threei}  I'd say it's pretty good timing

[11:16] {Threei}  frikin HIG never gave us pullback fro second entry

[11:16] {magoo} {buyemsellem} I certify your accounting as accurate

[11:16] {nemo} Can you kick a stock if you're not in it?

[11:16] {magoo} roflol

[11:16] {Threei}  JNPR CEO: FAILED TO ANTICIPATE THE ECONOMIC ENVIRONMENT CHANGING SO QUICKLY

[11:16] {Threei}  which one nemo?

[11:17] {nemo} HIG?

[11:17] {nemo} stomp it down, that is

[11:30] {nemo} market has gone eerily quiet

[11:30] {Threei}  yeah

[11:31] {Threei}  so have I

[11:34] {nemo} Headline AP article:  Stocks up as Bernanke says recession to end in '09

[11:34] {Threei}  HOUSE MAJORITY LEADER HOYER: ANY MAJORITY FEDERAL STAKE IN BANKS WOULD BE TEMPORARY, DOES NOT SEE THE US NATIONALIZING BANKS

[11:34] {Threei}  - US would return to minority ownership as quickly as possible, has no desire to take majority stakes over the long term

[11:35] {Threei}  market doesn't react on this anymore

[11:35] {Threei}  as dino said yesterday, got old very fast

[11:36] {Threei}  BAC and C are green, but gains are pitiful

[11:39] {KSystems} long Qs here for a swing, stop 27.10

[11:40] {Threei}  wow... market went into freezer, next to bottle of vodka

[11:40] {nemo} quiet...you're tempting me

[11:40] {Threei}  got a target for that KS?

[11:41] {KSystems} not yet

[11:41] {magoo} could explode up at 2 pm or crash...who knows, but feels like calm before the storm

[11:41] {Threei}  FED'S BERNANKE: TALF PROGRAM IS CLOSE TO OPENING

[11:50] {Threei}  - in response to a question of when extraordinary programs will be removed, Bernanke says Fed is focused on being ready to normalize monetary conditions when appropriate

[11:50] {magoo} well vad, we are getting pullbks for later if IF 'ally restarts

[11:51] {Threei}  yes

[11:51] {Threei}  I just don't want to try and scalp for penny bounces

[11:52] {magoo} hows volume today?

[11:52] {nemo} relatively high mags

[11:52] {Threei}  yeah, not bad

[11:53] {nemo} dow is 150% NAS is 110% SP 125%

[11:53] {nemo} check ht SP 112%

[11:54] {Threei}  market is desperately hungry for any excuse to reverse and explode to the upside

[11:55] {Threei}  to a degree where absence of horrific news will be percied as such excuse

[11:55] {magoo} remember the good ole days when we'd get a osama captuired/killed rumor

[11:55] {Threei}  lol

[11:55] {Threei}  that got old fast

[11:55] {nemo} either that or they sell off before the speech

[11:55] {magoo} worked firstr 10 times

[11:56] {cujo} now were chasing the manageres of ponzi schemes...

[11:56] {buyemsellem} as did bin laden...not sure if he's aging any more

[11:56] {nemo} died of kidney failure, didn't you hear.

[11:56] {buyemsellem} yeah, dialysis on the run can't work too well

[12:03] {magoo} what the h*ll going on?

[12:03] {nemo} Depression

[12:03] {nemo} At the library yesterday I was reading a book of funny Yiddish stories to my grandson..... A farmer has a healthy chicken and a sick one. What does he do? He makes chicken soup out of the healthy one and feeds it to the sick one. Sounds something like Stimulus Package thinking to me.

[12:05] {larisa} did sick chick get better ?

[12:06] {nemo} It didn't say, that's where the comment ended

[12:06] {Threei}  sick chicken came back and asked for two more healthy ones

[12:07] {nemo} wanted a separate hen house too

[12:08] {nemo} Business as Usual    http://finance.yahoo.com/news/House-Democrats-propose-410B-apf-14450221.html   House Democrats propose $410B spending bill

[12:08] {nemo} House bill to keep govt. running totals $410 billion, features thousands of pet projects 

[12:09] {dino} not sure cannibalism is a good idea, even for chickens

[12:09] {nemo} depends on the cut

[12:10] {larisa} lol

06[12:10] * magoo slaps laserdave around a bit with a large trout

[12:13] {Threei}  9 is fair natural support for RMBS

[12:14] {Threei}  if comes closer to t, will be on watch for bounce

[12:14] {nemo} using the word "fair" sounds political

[12:14] {Threei}  ACOR

[12:14] {Threei}  BIOGEN REPORTEDLY IN DISCUSSIONS OVER ACORDA'S MULTIPLE SCLEROSIS PILL - UNCONFIRMED REPORT

[12:14] {Threei}  {BIIB}

[12:15] {Threei}  eeck

[12:15] {nemo} sorry

[12:15] {nemo} like as in "fair share"  "modest tax"

[12:16] {magoo} acor vad..u thinking any play?

[12:16] {Threei}  BIOGEN REPORTEDLY LOOKING TO PURCHASE ACOR TO GET RIGHTS TO FAMPRIDINE MULTIPLE SCLEROSIS PILL - UNCONFIRMED REPORT

[12:16] {Threei}  who the hell knows... no price indicated

[12:17] {magoo} what they pay?

[12:17] {Threei}  [12:16] {Threei} who the hell knows... no price indicated

[12:17] {magoo} as i was typing ?

[12:17] {Threei}  is it takover vs current price or takeunder?

06[12:17] * magoo slaps Threei around a bit with a large trout

[12:18] {magoo} was thginking more short

[12:18] {Threei}  - Discussions may also include the purchase of rights to the drug instead of the entire company{

[12:20] {Threei}  just leave it alone mags

[12:20] {Threei}  pure gambling

[12:20] {magoo} yeah

[12:20] {Threei}  you short it, they announce takeover at 40

[12:20] {dino} biib drop

[12:20] {Threei}  you go long, they announce offer at 25

[12:27] {dino} and if you get it right, "they" will break the trade

[12:29] {magoo} really dino

[12:29] {nemo} RIMM DBed

[12:29] {nemo} ?

[12:32] {Threei}  something is brewing

[12:33] {Threei}  GOLDMAN ANALYST COMMENTS THAT JPM DIVIDEND CUT IS A NET POSITIVE

[12:33] {Threei}  - expects other strong banks to make similar pro-active dividend cuts

[12:33] {Threei}  FED'S FISHER: WARY OF GOVT INVOLVING ITSELF IN PRIVATE BUSINESS, UNCOMFORTABLE WITH BANK NATIONALIZATION, BUT BELIEVES GOVT. ACTION MAY BE NEEDED

[12:34] {Threei}  I don't believe market is going to stay this meek for very long

[12:34] {magoo} any financial candidates vad u like if mkt takes off?

[12:35] {Threei}  BAC... JPM...

[12:35] {Threei}  GS of course

[12:36] {Threei}  86 break GS

[12:36] {Threei}  grrr

[12:36] {cujo} in 86

[12:36] {cujo} small lot

[12:36] {Threei}  wtg

[12:37] {dino} sm l lphi .40

[12:37] {cujo} 1/2 out .29

[12:37] {Threei}  beautiful entry cujo

[12:37] {cujo} thanks

[12:39] {Threei}  pullback into .80 - .90 area on watch for another entry

[12:39] {cujo} was a really small lot. 

[12:42] {Threei}  FED'S BERNANKE: FED IS PREPARED TO BUY LONGER-DATED TREASURIES, WOULD LIKE TO KEEP THE OPTION OPEN - Q&A BEFORE SENATE PANEL

[12:42] {Threei}  - Not trying to affect the cost of govt finance, merely trying to help private credit markets.

[12:45] {Threei}  BAC is starting to look more stable

[12:45] {Threei}  if we get pullback into .10 - .15 area, will be worth a try

[12:45] {Threei}  scared to say, but possibly for a bigger run

[12:47] {Threei}  if no more incessant flow of comments form high above, this thing can move over 4.50 and quite possibly closer to 5

[12:48] {Threei}  GS new high

[12:49] {cujo} where's Hawk?

[12:49] {magoo} just wacked it .40 to 61

[12:49] {magoo} to fast

[12:49] {Threei}  didn't see him today

[12:49] {cujo} usually our GS alarm :)

[12:50] {Threei}  do you feel this rising tension in BAC?

[12:50] {cujo} y

[12:50] {cujo} some upward mobility?

[12:51] {Threei}  yeah

[12:51] {Threei}  worry isn't fully out yet

[12:51] {Threei}  but it's fighting

[12:53] {cujo} it is... 

[12:54] {Threei}  I have to say... all this selling of late,

[12:54] {Threei}  it's setting a stage for some spectaculat fireworks

[12:55] {Threei}  we are crawling through it, making small gains day by day,

[12:55] {magoo} vad...keep open mind

[12:55] {Threei}  then time comes for really explosive moves

[12:55] {magoo} do not perceive up as a gimmee

[12:55] {Threei}  I don't

[12:55] {Threei}  not yet

[12:56] {magoo} ok..good

[12:56] {Threei}  you could see my thought process this morning

[12:56] {Threei}  step by step

[12:56] {magoo} yup..u in bac?

[12:56] {Threei}  going from shorting mindset to no shorting

[12:56] {Threei}  to careful longs

[12:57] {Threei}  to full out

[12:57] {Threei}  scalped it mags

[12:57] {Threei}  not ready for a longer hold yet

[12:57] {Threei}  want to see a hard shakeout

[12:57] {magoo} where the pattern on it?

[12:57] {Threei}  it's quite capable of those

[12:57] {Threei}  I'd like to see it back into .20

[12:58] {Threei}  see how sharp its red bars can be?

[12:58] {magoo} yup

[12:59] {Threei}  S&P REPORTS CAPITAL ADEQUACY RATIOS AMONG US INSURERS REMAINS STRONG, BUT SEES DOWNWARD TREND

[12:59] {Threei}  - "Capitalization is especially important for mortgage insurers because their exposure to the mortgage and housing markets makes their operating results more volatile than most lines of business," said Standard & Poor''s credit analyst James Brender. "For this reason, our criteria caps the rating on a mortgage insurer at the rating its capital adequacy ratio (CAR) implies."

[12:59] {Threei}  - According to S&P, this is unique to mortgage insurers, and a mortgage insurer can be rated below the rating its CAR implies.

[13:00] {Threei}  BAC is getting there

[13:01] {magoo} u got the ball..u make the call:)

[13:01] {nemo} figures...I gotta' Magoo it

[13:02] {magoo} what?

[13:02] {cujo} in .22 BAC

[13:04] {nemo} think there might be some pullback left vad?

[13:04] {nemo} powder room Mags

[13:04] {nemo} not gunpowder

[13:04] {Threei}  in what?

[13:04] {nemo} general market

[13:05] {Threei}  after some move, sure

[13:05] {Threei}  half out cujo

[13:05] {cujo} y

[13:06] {cujo} 1/3 out .27, 1/3 out .32

[13:06] {magoo} chrsisakes scalp GS again same but dollar higher..hit .40 out .65

[13:06] {cujo} waiting on this last piece

[13:06] {Threei}  IMO... put .19 stop to that last piece,

[13:06] {cujo} done

[13:06] {Threei}  and see if you can get closer to .50

[13:07] {cujo} stop .19, fingers crossed...

[13:09] {Threei}  ugh... forgot about HIG

[13:12] {dino}  watching esi, apol

[13:12] {cujo} u think safe to update stop to .24 on BAC Vad?

[13:13] {Threei}  can't tell, this sharp market downtick is not technical

[13:14] {cujo} ok, holding at .19

[13:14] {Threei}  it really comes to personal preferences here

[13:14] {Threei}  I would do the same

[13:14] {Threei}  someone who cherishes every cent would better take it off the table

[13:15] {Threei}  see, to me this feels like last dance before takeoff

[13:15] {Threei}  I don't mean this very pullback on BAC

[13:15] {Threei}  but overall this market up and down over last few hours

[13:16] {Threei}  it's just a gut feel

[13:16] {Threei}  I am not ready to commit to it by taking a lot of long positions

[13:16] {Threei}  but having one already, and with most of profit protected

[13:16] {Threei}  and with negligible stop for the balance

[13:16] {Threei}  I'd oprefer to hold it and give it a chance

[13:17] {cujo} yup

[13:17] {Threei}  AIG

[13:17] {Threei}  REPORTEDLY, THE CEO COULD DIVEST SOME OPERATIONS TO THE US GOVT TO HELP PAY OFF THE GOVT LOAN -

[13:21] {Threei}  do you guys have this feeling of how willing market to go

[13:21] {magoo} JPM vad..read on it?

[13:21] {Threei}  still wall of worry of course, these things don't disappear in one day

[13:21] {wulff} Feels like a relief rally coming

[13:22] {Threei}  yes

[13:22] {Threei}  JPM, want one more pullback, slallow

[13:22] {wulff} I like beaks of recent highs

[13:23] {Threei}  wow FAS

[13:25] {Threei}  ACOR

[13:25] {Threei}  HEARING CHATTER BIOGEN MAY BE DENYING EARLIER SPECULATION THAT IT IS PURSUING ACOR'S MS DRUG

[13:25] {larisa} lol

[13:26] {Threei}  hehe

[13:26] {Threei}  here comes your reward for patience, cujo

[13:26] {magoo} and mine

[13:26] {Threei}  you took it mags?

[13:26] {magoo} yup

[13:27] {cujo} y

[13:27] {cujo} almost

[13:27] {magoo} waiting .47

[13:27] {Threei}  pullback is coming

[13:27] {Threei}  and pullbacks are unnerving

[13:27] {cujo} out .40 BAC impatient

[13:27] {cujo} sry Vad

[13:28] {Threei}  one quick theory moment guys

[13:29] {Threei}  this way of entry on running stocks as we did on BAC,

[13:29] {Threei}  waiting for a sharp pullback,

[13:29] {Threei}  is the way to do it during these early stages of bear market rallies

[13:29] {Threei}  if you tried to buy break on it,

[13:29] {Threei}  you'd be shaken out

[13:30] {Threei}  or had to sit through a gut-wrenching pullback with too wide stop

[13:30] {magoo} a "but" is coming

[13:30] {Threei}  time for pure breakouts will come

[13:30] {Threei}  for now it's pullbacks that shake weak hands out

[13:30] {Threei}  GE VICE CHAIRMAN: AFFIRMS PROFIT TARGETS OF FLAT TO +5% IN INFRASTRUCTURE SEGMENTS

[13:31] {magoo} out .41 

[13:31] {magoo} TY 

[13:31] {Threei}  welcome

[13:31] {cujo} thanks Vad.  Good call on that Stop level

[13:31] {Threei}  :)

[13:31] {wulff} in ADBE .75

[13:32] {Threei}  quite happy with my today's read

[13:32] {magoo} me too...nice boss

[13:32] {magoo} even your 2 misses were just rinses

[13:32] {cujo} KS you still in Q?

[13:33] {fernp} WFT valid cup & handle?

[13:33] {Threei}  chart wise yes fern, my concern is a very narrow range

[13:34] {fernp} ty

[13:34] {Threei}  ok guys, pullback is in order

[13:34] {Threei}  relax, let market digest things

[13:35] {Threei}  this last spike just now is a trap IMO

[13:35] {Threei}  for overly enthusiastic types

[13:36] {wulff} feeling greed...help

06[13:37] * Threei slaps wulff around a bit with a large bottle of antigreedin

[13:38] {wulff} stops etc. ok

[13:38] {Threei}  BAC really wants to run

[13:39] {wulff} sitting on 1.25 on PO, small sh

[13:39] {wulff} POT

[13:39] {nemo} looks like FAS wants to close the gap from yesterday

[13:41] {Threei}  I am sitting out this round

[13:41] {magoo} shoot..thought about taking 100 shares SKF short at 190 arera

[13:42] {Threei}  I don't feel market is in the state of total giddiness just yet

[13:47] {nemo} did I miss a call?

[13:47] {Threei}  no... other than maybe destiny call but I am not responsible for those

[13:48] {nemo} but you are a Sith lord

[13:48] {Threei}  [12:45] {Threei} scared to say, but possibly for a bigger run

[13:48] {Threei}  [12:47] {Threei} if no more incessant flow of comments form high above, this thing can move over 4.50 and quite possibly closer to 5

[13:49] {Threei}  BAC fulfilled first part

[13:49] {dino}  out lphi .84, +.44

[13:51] {Threei}  wtg

[13:51] {cujo} nice trade dino

[13:51] {dino} ty

[13:52] {dino} risky apol sm .80 l

[14:00] {magoo} what u stalking vad?

[14:01] {Threei}  really want market to settle into more serious pullback

[14:10] {Threei}  want BAC closer to .40

[14:10] {dino} apol stop is .47

[14:11] {dino} stopped

[14:14] {nemo} BAC doesn't want to give back

[14:15] {dino} rinsed

[14:17] {Threei}  (JP) JAPANESE PM: DID NOT DISCUSS PURCHASE OF US TREASURIES WITH PRES OBAMA, DISCUSSED METHODS TO MAINTAIN CONFIDENCE IN USD AS EROSION IN USD CONFIDENCE COULD HAVE A LARGE EFFECT

[14:17] {wulff} the greed in returning, where are my pills

[14:17] {nemo} and they keep writing spending bills

[14:18] {Threei}  buy FAZ and go on vacation would be really bad idea today eh? :)

[14:18] {nemo} yeah...contra indicator

[14:18] {buyemsellem} I don't know, at least you'd be on vacation

[14:19] {Threei}  lol

[14:19] {nemo} having said that, if it holds this bottom, you should get your pull back

[14:19] {nemo} if not, financials probably run

[14:20] {nemo} I'll ammend the vacation comment to three weeks ago

[14:20] {nemo} Let's see...what office can I run for???

[14:21] {nemo} oops...dangling preposition.  For what office can I run?

[14:24] {magoo} STT got away

[14:24] {wulff} Vad in this kind of rally, just put stops below last turn right?

[14:24] {Threei}  pretty much

[14:27] {Threei}  HIG, mama mia

[14:27] {nemo} manga mia

[14:29] {Threei}  turned into one of those days when you just buy anything except short ETFs and go sleep

[14:29] {nemo} ouch

[14:31] {wulff} we needed one of these days, one

[14:31] {Threei}  we will have much more

[14:31] {Threei}  not right away

[14:31] {Threei}  but this time will come

[14:31] {Threei}  and I have just an alert for those days:

[14:31] {Threei} Long Setup:  ANYTHING  at any price

[14:32] {cujo} really?  we gonna do this?

[14:32] {cujo} :)

[14:32] {nemo} except shorts

[14:32] {buyemsellem} in XXXX at .XX

[14:32] {dino}  3x

[14:34] {Threei}  magoo will help you recognize those days cujo

[14:34] {Threei}  when you see him go:

[14:34] {wulff} so don't feel like you are going to miss anything jsust yet, right?

[14:34] {buyemsellem} out @@@@ +.@@

[14:34] {Threei}  oops, I bought XYZ even though you called ABC, but made money anyway, so thank you

[14:34] {Threei}  you know it's one of those days

[14:35] {cujo} nice, magoo lemme know.

[14:35] {magoo} miss them days bvad

[14:35] {Threei}  consider today a sneak preview

[14:36] {Threei}  and don't call me bvad

[14:36] {cujo} you think we have mkt wide capitulation?

[14:36] {dino} no

[14:36] {Threei}  we didn't

[14:36] {cujo} "coming soon."

[14:37] {Threei}  we had orderly selling

[14:37] {Threei}  but nothing even close to real capitulation

[14:37] {buyemsellem} do you think capitulation is necessary for the markets to turn?

[14:37] {nemo} The capitulations might have been in November.  Too many stocks aren't anywhere near there 52 week lows

[14:37] {dino} no

[14:37] {Threei}  no, not that we must

[14:38] {Threei}  it would be nice

[14:38] {dino} bears can end w/ a whimper too

[14:38] {Threei}  but bottoming out can happen in various ways

[14:38] {Threei}  right dino

[14:38] {nemo} looks like the "pullback" might be over

[14:38] {magoo} 'thinkin same

[14:38] {dino} apathy could be a sign at some point

[14:39] {magoo} so prolonged and dismal

[14:39] {cujo} faz sub 60

[14:39] {magoo} may be sold

[14:40] {Threei}  watch HIG

[14:41] {Threei}  if sells off into .10 - .20 area will be bounce scalp candidate

[14:44] {Threei}  anyone got it, keep stop under .05

[14:44] {cujo} in

[14:44] {Threei}  aim to take profit in .25 - .30 area

[14:45] {nemo} in .12

[14:47] {Threei}  here we go

[14:47] {Threei}  easy money

[14:47] {jmb} thanks

[14:47] {Threei}  :)

[14:48] {nemo} ty

[14:48] {Threei}  I love it so when they are this obedient

[14:48] {Threei}  pullback depth is clearly readable, support is holding like charm, bounce is right into profit zone

[14:49] {wulff} Was is it support at 2:20pm or so?

[14:49] {Threei}  well, natural support is 8

[14:49] {Threei}  but in such strong markets they tend to bottom out aa bit higher

[14:50] {wulff} oh

[14:50] {Threei}  and pullback from above .50 was quite sizeable

[14:50] {Threei}  in weak downtrending markets they tend to do the opposite:

[14:50] {Threei}  they sell down under the natural support before bouncing

[14:50] {wulff} most annoying

[14:50] {Threei}  you may remeber many of my bounce calls from weak markets

[14:51] {Threei}  where I suggested zones under the support

[14:51] {Threei}  what I like about these nice quick scalps is,

[14:51] {Threei}  they help eliminate the effect of those few stops we had earlier

[14:52] {Threei}  so the gains become clean

[14:52] {Threei}  mentally I mostly percieve them in this wway

[14:52] {Threei}  stope compensation if you will

[14:53] {wulff} refunds

[14:53] {cosmo} rescue

[14:53] {Threei}  bailout?

[14:54] {cosmo} its all symantics

[14:54] {nemo} If HIG drops 8 short, or would have to fall below 7.80

[14:54] {cujo} BAC givin it all BAC.

[14:55] {Threei}  all?

[14:55] {Threei}  come on

[14:55] {Threei}  far from it

[14:55] {dino}  v sm risky esi l .30

[14:55] {cujo} i just wanted to say it...

[14:55] {cujo} sorry 

[14:55] {Threei}  oh

[14:55] {Threei}  welcome to club of bad puns and dubious humor

[14:55] {Threei}  I am the president

[14:55] {cujo} he he he

[14:55] {nemo} you hold a lot of titles

[14:56] {Threei}  most of them are self-assigned

[14:57] {nemo} FAS breaking highs

[14:57] {nemo} I was just going to say, awful quiet

[14:58] {wulff} Lots of fun. Quitting while I'm ahead. later.

[14:58] {Threei}  good to hear wulff :)

[14:58] {Threei}  told ya, bull markets are more fun

[14:59] {magoo} good job wolf

[14:59] {Threei}  we can navigate any

[14:59] {wulff} took 2.25 on POT

[14:59] {Threei}  but it comes to more fun or less fun

[14:59] {cujo} see ya Wulff

[15:00] {dino} gj wulf

[15:01] {magoo} interesting group...a dog, wolf, dinosaur, 3 eyes, blind man {magoo}

[15:01] {nemo} and "no man"

[15:01] {magoo} several birds

[15:01] {magoo} a fish

[15:01] {dino} and a cartoon character

[15:01] {nemo} "dinosaur"

[15:01] {Threei}  rofl

[15:02] {cosmo} wizard

[15:02] {cujo} l fas .53

[15:02] {nemo} no your a comic sidekick

[15:02] {Threei}  semi-precious stone too, mags

[15:03] {nemo} winemaker

[15:03] {magoo} out hig here .33

[15:04] {magoo} 1 ex girlfriend lol

[15:04] {larisa} nah :) it is just beauty and the beasts..

[15:04] {Threei}  thank you larisa

[15:04] {nemo} Vad...you should never have put your picture on the website

[15:04] {Threei}  oh wait... you listed me among beasts I suppose

[15:04] {larisa} of course not :)

[15:04] {larisa} you are our beauty

[15:05] {nemo} blowin' smoke there larisa?

[15:05] {Threei}  but you said beautY

[15:05] {Threei}  not plural

[15:05] {nemo} Larisa...stop while you're behind

[15:05] {larisa}  you started it

[15:05] {nemo} I didn't

[15:07] {cosmo} sound like a buncha bankers...

[15:07] {larisa} lol

[15:07] {Threei}  looks like market decided to finish on a strong note

[15:08] {dino} 50 min. to go

[15:08] {dino} long time in this market

[15:08] {Threei}  lol, so truye

[15:08] {dino} could do the average year in 50 min.

[15:09] {cujo} out 1/2 1:1 fas

[15:09] {nemo} BAC bolted right through the highs

[15:10] {Threei}  wtg cujo

[15:10] {cujo} thanks Vad

[15:10] {Threei}  pleasure to see

[15:10] {Threei}  nice clean setup

[15:10] {dino} esi stop to .36

[15:10] {Threei}  good discipline in execution

[15:10] {cujo} maybe i'm not hopeless?

[15:10] {dino} out +1.06

[15:10] {Threei}  I hope not, I need to retire sometime

[15:11] {larisa} gj dino

[15:11] {cujo} out full

[15:11] {Threei}  mibbit kicks people today or what

[15:11] {cujo} no retireing yet

[15:12] {dino} ty

[15:12] {cujo} go dino

[15:12] {cujo} nice one. 

[15:13] {dino} ceco sm l .14

[15:13] {cosmo} MRVL 7.50 resistance

[15:14] {larisa} stocks look tired, do not follow market as much

[15:18] {magoo} 240 up..been long time

[15:20] {nemo} bounce in HIG?

[15:20] {nemo} or have to go closer this time to 8?

[15:20] {Threei}  I don't like it dropping while market makes new highs

[15:20] {Threei}  I'd leave it alone

[15:21] {nemo} ty

[15:21] {cujo} Vad, BAC looking like it wants 5...

[15:21] {Threei}  larisa is right

[15:21] {Threei}  not many stocks follow index right now

[15:21] {magoo} 3:40 gonna be interesting

[15:22] {cosmo} birds will be singing...soon

[15:23] {cosmo} ...may be singing

[15:24] {buyemsellem} we are back to yesterday's open

[15:24] {nemo} I wonder if we get a sell off before the speech

[15:25] {cosmo} speech?

[15:25] {nemo} Obama tonight

[15:25] {nemo} The savior issues his daily pronouncement

[15:25] {cosmo} ah...waiting  for obama

[15:26] {nemo} Good title for a book

[15:26] {cosmo} gets old tho

[15:26] {nemo} I never watch

[15:26] {nemo} Hell, I don't even liste to the financial networks

[15:27] {cosmo} i stopped when roy blumberg get kicked

[15:27] {dino} comedy central on here

[15:28] {nemo} TV or this IM

[15:28] {dino} lol

[15:29] {Threei}  both

[15:31] {Threei}  MARKET INTERNALS UPDATE AT 3:30PMET

[15:31] {Threei}  - NYSE volume 1.28B shares, about 25% above its three-month average; advancers lead decliners by 10.9:1.

[15:31] {Threei}  - NASDAQ volume 1.9B shares, about 10% above its three-month average; advancers lead decliners by 2.9:1.

[15:32] {cosmo} not good enough imo

[15:32] {cosmo} need 50% more vol

[15:32] {nemo} volume nothing spectacular...technical bounce

[15:35] {magoo} strong close here might bring in buyers tomorrow

[15:36] {Threei}  we will see

[15:36] {Threei}  let's take one day at a time

[15:36] {Threei}  we are not out of the woods yet

[15:36] {Threei}  not even close

[15:37] {Threei}  we still have to hear financial plan

[15:37] {magoo} yup..or suckers bounce at open and bear kills all

[15:37] {cujo} i wouldn't be suprised with some profit taking today

[15:37] {Threei}  we still have to hear what they are going to do with GM/F

[15:38] {cosmo} qqqq needs 29

[15:39] {Threei}  KS got nice trade going on Qs

06[15:39] * Threei slaps larisa around a bit with a large roll of cash

[15:39] {Threei}  hmmm

[15:39] {larisa} ?

[15:39] {Threei}  that was inteneded for KS

[15:39] {Threei}  sorry :)

06[15:39] * Threei slaps KSystems around a bit with a large roll of cash

[15:39] {Threei}  there

[15:40] {dptl} ok...enought for today....have a good evening all

06[15:40] * Threei slaps KSystems around a bit with a large chart of uptrending market

[15:40] {Threei}  take care dp

[15:41] {KSystems} out Qs here +.56

[15:41] {KSystems} thanks Vad

[15:41] {cujo} nice trade KS

[15:41] {Threei}  always

[15:41] {Threei}  don't know for what though

[15:42] {Threei}  but being polite man I say welcome when thanked

[15:42] {cujo} palm in red territory

[15:42] {cujo} wonder why?

[15:42] {Threei}  ran out of gas

[15:46] {Threei}  this taste of bull market is so nice

[15:46] {cujo} stt gone and went nuts

[15:46] {cujo} look at that thing....

[15:46] {Threei}  I am salivating at the thought of trading when we get full blown one

[15:46] {Threei}  ugh

[15:46] {Threei}  and I knew it had huge potential

[15:46] {Threei}  but no, it to go and shake us out

[15:47] {Threei}  it had to

[15:47] {magoo} im so so excited !!! stop it vad

[15:47] {Threei}  whatever... it was a very nice day as it is

[15:47] {cujo} y

[15:47] {magoo} yes....ty ..i hit 100% today

06[15:48] * Threei slaps magoo around a bit with a large bottle of Prozac

[15:48] {magoo} funny though...scalps

[15:48] {magoo} most under $150

[15:48] {Threei}  that's OK

[15:48] {cujo} magoo, can you let me know when you are going to do that...

[15:48] {Threei}  turn in thinking does not happen in one day

[15:48] {dino} green is green magoo, 

[15:49] {magoo} cujo..i cant bro...i sukked yesterday

[15:49] {Threei}  look where the market is

[15:49] {magoo} see..i regrett it...but i am mojo trader...need up

[15:49] {Threei}  imagine what kind of upside we have when it finally turns

[15:50] {magoo} forgot hpow

[15:50] {dino} yes, but still under thursdays' close

[15:51] {magoo} sure dino...what would be the MOST demorallizing?

[15:51] {magoo} early pop..then crash after obama

[15:51] {Threei}  gosh, even DRYS is green

[15:51] {Threei}  barely but still

[15:52] {magoo} vad..thoughts on my last

[15:52] {magoo} {magoo} sure dino...what would be the MOST demorallizing?

[15:52] {magoo} {magoo} early pop..then crash after obama

[15:53] {larisa} obama is tonight I thought

[15:53] {Threei}  I don't know mags... too many ifs

[15:53] {nemo} So...think we should buy FAZ and go on vacation?

[15:53] {Threei}  let me just be happy I got this day's idea right before the day even started :)

[15:54] {nemo} How's the arm?

[15:54] {Threei}  after so many days of relentless selling it was tough call

[15:54] {magoo} man..just did it again

[15:54] {magoo} GS .40 to .65

[15:55] {nemo} Thank god for your third eye

[15:55] {magoo} exact same 

[15:55] {Threei}  especially with nemo ready to cut my head off as soon as it showed from under the armour

[15:55] {nemo} nahhhhhhhhhhhhhhh

[15:55] {Threei}  lol

[15:55] {fernp} Good evening all. See u tomorrow

[15:56] {magoo} nice work vad..worth thge price of admission he he

[15:56] {Threei}  take care fern

[15:57] {Threei}  STT, you slime

[15:58] {cujo} ok, heading out.  HAve a good one all.  Stay safe out there. 

[15:58] {nemo} P&Q

[15:58] {Threei}  cujo :)

[15:58] {Threei}  OK guys

[15:58] {Threei}  thank you all

[15:58] {nemo} gnite

[15:58] {Threei}  have a geart evening

[15:58] {Threei}  see you tomorrow

[15:58] {larisa} later all :)

[16:00] {dino} fwiw fridays closes, 7366,1172,770

Two sizeable plays covered a few small stops and made the day positive: RIMM long early in the day and CAT short that took a few hours to develop. Nothing outstanding but positive is positive. This selling is probably far from over, so might just as well get used to being very conservative in expectations.

Session Time: Mon Feb 23 00:00:00 2009

[07:36] {nemo} Only you and me Vad...maybe only me...

[08:00] {magoo} morning

[08:01] {nemo} Hi Mags...

[08:02] {magoo} captjn nemo:)

[08:04] {nemo} another 7 1/2 months until hunting season

[08:04] {magoo} some yrs i do spring bear

[08:05] {nemo} I only hunt what I eat...bear isn't one of my favorites

[08:05] {nemo} wish we had caribou around here...meat is great

[08:07] {magoo} wonder where everyone is?

[08:08] {nemo} Yeah...I was thinking the same thing...not usually this dead on a monday...the German contingent just showed up

[08:08] {nemo} Tag herrn K...warum so spaet?

[08:09] {KSystems} morning :)

[08:19] {Threei}  Good morning

[08:20] {nemo} Grand Poobah :)

[08:23] {Threei}  BAC and C are happy

[08:23] {Threei}  well, if these prices an be called happiness at all

[08:23] {nemo} twice is twice

[08:24] {nemo} fas decided to take off

[08:24] {Threei}  NCX

[08:24] {Threei}  IPIC ENTERED AGREEMENT FOR ALL CASH ACQUISITION AT $6/SHR

[08:27] {Threei}  (US) US TREASURY AND FEDERAL RESERVE INTEND TO BEGIN STRESS TESTING ON FEB 25, JOINTLY STATE THAT THE US GOVT STANDS FIRMLY BEHIND THE BANKING SYSTEM

[08:27] {Threei}  - State that US banks remain well capitalized, regulators determined to preserve the viability of "systemically important financial institutions."

[08:27] {Threei}  - Banks that are found to require more capital can turn to private sources first and the govt second.

[08:27] {Threei}  - Notes that banks should remain in private hands.

[08:28] {Threei}  - US capital would be coverted into common equity only as needed.

[08:28] {Threei}  - Statement makes no mention of particular banking institutions.

[08:28] {Threei}  - Reminder: On 2/22 the NYT reported that the US government's stress tests for the 20 largest banks are expected to begin this week and take several weeks. The stress tests will use computer run "what if" situations to estimate what would happen to each bank under Depression like conditions, with unemployment rising to 10-12% or home prices declining 20% further

[08:28] {nemo} They need a stress test for that?

[08:37] {Threei}  PALM

[08:37] {Threei}  HEARING SHARES RAISED TO BUY FROM HOLD AT DEUTSCHE BANK, PRICE TARGET $10

[08:37] {Threei}  where did all the doom and gloom of the last week go

[08:38] {cujo} good morning

[08:38] {Threei}  cujo :)

[08:38] {nemo} market's are bi-polar manic depressive

[08:38] {larisa} good morning :)

[08:38] {nemo} Larisa :)

[08:39] {Threei}  larisa :)

[08:39] {larisa} nemo, threei :)

[08:41] {Threei}  BAC and FAS are above Fri high

[08:48] {magoo} vad..any news RIMM AASPL?

[08:48] {magoo} AAPL

[08:51] {Threei}  no

[08:52] {nemo} C&H on FAS?

[08:53] {Threei}  so far just a cup, and not complete

[08:54] {nemo} I see cup 7:10 to 8:20 and handle between 8:20 to now

[08:56] {Threei}  my chart starts at 8

[08:57] {nemo} just sent it email

[08:58] {Threei}  yeah

[08:58] {Threei}  without normal and with limited particpation that early, patterns are less reliablevolume premarket

[08:58] {nemo} thought you might say that...discretion is the better part of valor

[08:59] {nemo} Having said that...FAS has traded almost 2 million this morning

[09:00] {Onix} gm all

[09:00] {Threei}  Onix :)

[09:05] {Threei}  (US) SENATE MAJORITY LEADER REID (D): NO NEED TO TALK ABOUT BANK NATIONALIZATION

[09:05] {Threei}  ummm

[09:05] {Threei}  no need to do it? Or no need to talk?

[09:05] {cosmo} i didn't know they wer gonna do that..

[09:06] {cosmo} .... 'talk'

[09:07] {Threei}  lol

[09:09] {dino} gm all

[09:09] {Threei}  dino :)

[09:14] {cosmo} DRYS up

[09:14] {pita} gm all ye seekers of truth, justice .......  and money!

[09:15] {Threei}  pita :)

[09:15] {buyemsellem} eh, just money

[09:15] {buyemsellem} gm

[09:15] {Threei}  byem :)

[09:16] {Threei}  08:17am Baltic Dry Bulk Index -0.7%, first decline in 5 days

[09:16] {Threei}  BAC sharp drop

[09:16] {Threei}  that;s probably how they are going to tarde near temr

[09:16] {cujo} Vad, any thoughts on a 40 RIMM break?

[09:16] {Threei}  each word about nationalisation is going to send them up and dow

[09:17] {Threei}  I'd refrain from it for now

[09:17] {Threei}  see, none of them trades on their own at this moment,

[09:17] {Threei}  they all react on banking sector

[09:17] {Threei}  and banking sector rects on every word from high above

[09:17] {cujo} got it.  following the banks.

[09:18] {Threei}  rather, following the market which follows the banks

[09:18] {fernp} Hello everybody

[09:18] {Threei}  fern :)

[09:18] {Threei}  that's important distinction

[09:18] {cujo} got ya. 

[09:18] {Threei}  because at some point market will again disconnect from financials

[09:18] {Threei}  to a degree at least

[09:19] {Threei}  and because this additional link inserted means reaction is a bit muted

[09:19] {Threei}  possibly delayed

[09:20] {Threei}  while market is focused on financials, it's about general flow of the money in the market,

[09:20] {Threei}  but when market starts compartmentalizing financials, it's going to be about redistribution between sectors

[09:24] {Threei}  keeping an eye on PLD

[09:25] {Threei}  nice daily

[09:25] {Threei}  with any market help has a chance for a serious move

[09:32] {Threei} Long Setup:  PLD  7.10 break

[09:32] {ese} now I know how dino feels....god morning

[09:32] {Threei}  ese :)

[09:32] {Threei}  6.95 invalidating

[09:34] {ese} L uaua .04

[09:34] {Threei} Long Setup:  DRYS  4.26

[09:34] {Threei}  stop under .15

[09:34] {Threei}  PLD invalidated as break

[09:35] {ese} crap no i'm not....sorry  it didn't my order

[09:35] {ese} thought i was in

[09:35] {cujo} in DRYS .27

[09:35] {ese} bstop  uaua.20 1/2

[09:36] {ese} L uaua.22

[09:36] {Threei}  let's trail DRYS stop under .20

[09:38] {Threei}  wow UAUA

[09:38] {Threei}  nice find ese

[09:38] {Threei}  06:09am [UAUA] BofA/Merrill Lynch Raised UAUA to Buy from Neutral, price target: $10

[09:38] {ese} out uauaworkin well

[09:39] {ese} i'm not out....weird morning

[09:39] {ese} now i'm out  uaua  .42 +.20 on a 1/2

[09:43] {Threei}  CECO looks heroic again

[09:43] {cujo} stopped

[09:43] {Threei}  out DRYS

[09:44] {Onix} stopped

[09:44] {nemo} Monday morning :(

[09:45] {Threei}  OPEL UNIT: FEBRUARY HAS BEEN BEST MEET MONTH IN 5-YRS FOR VEHICLE ORDERS

[09:48] {Threei} Long Setup:  RIMM  .50 if stays above .30

[09:49] {nemo} invalimadated?

[09:49] {Threei}  for now

[09:50] {nemo} Turned int a "hurry up and wait" open

[09:50] {Threei}  serious selling on AAPL

[09:50] {nemo} Jobs must be dying

[09:51] {dino}   watching vz, mcd

[09:51] {dino} lphi too

[09:52] {wulff} you like USO here

[09:52] {wulff} ?

[09:52] {Threei}  .60 break, could be

[09:53] {dino} asewi

[09:53] {Threei}  just keep it small, USO can be incredibly volatile

[09:53] {dino} asei i mean

[09:54] {wulff} invalid

[09:55] {Threei} Long Setup:  HIG  .50 break if stays above .35

[09:56] {dino} mco

[09:57] {nemo} why .35?

[09:57] {nemo} support last 15 min

[09:57] {dino} vz sm l .70

[09:59] {ese} ya whats up with that AAPL

[10:00] {Threei}  where did all the premarket giddiness go

[10:00] {wulff} more sellers than buyers

[10:00] {nemo} wullf is going for your title vad...

[10:00] {Threei}  wulff... careful... you are venturing on my territory

[10:01] {wulff} learning from the master

[10:01] {Threei}  I will fight for my title of Captian Obvious tooth and nail

[10:01] {wulff} I have only one tooth, but its sharp

[10:01] {ese} RMBS

[10:02] {Threei}  RMBS RECEIVE POSITIVE RULING IN SUPREME COURTON ROYALTIES, REJECTING FTC RULING

[10:02] {Threei}  REJECTING FTC ATTEMPT TO LIMIT RAMBUS ROYALTIES

[10:03] {wulff} WFC pullback

[10:03] {ese} l rmbs 1/2 .77

[10:04] {dino} es, asei?

[10:04] {dino} 65ish?

[10:05] {dino} last time dji was up over 100, was 02/06

[10:05] {nemo} makin' any predictions dino?

[10:06] {ese} that has potential dino

[10:06] {dino} yeah, in 15 weeks we are at zero on dji, ndx, s/p. start over

[10:10] {ese} out rmbs ..98 +.22

[10:10] {Threei}  RIMM half lot long on pullback into 39, with stop under 38.90

[10:11] {Threei}  good one ese, looked quite nervous

[10:11] {fernp} gj ese

[10:11] {ese} that might have been a little to volitaile for my liking.....worked out but was in too soon

[10:11] {dino} ndx trying to catch up to s/p drop last week

[10:11] {dino} gj es

[10:11] {ese} tks

[10:12] {ese} asei.......man  where to get in is the question

[10:12] {ese} thin thin thin

[10:12] {dino} spready too

[10:12] {dino} needs retest, to see if holds imo

[10:13] {nemo} market slowly dying too

[10:13] {dino} in bear markets, we wait

[10:13] {ese} ya .20 spread most times

[10:13] {dino} mco quite the 3 day beating

[10:13] {nemo} RIMM retesting bottom?

[10:14] {dino} dk

[10:15] {dino} asei lod

[10:15] {nemo} g'nite FAS

[10:17] {Threei}  half out RIMM

[10:17] {Threei}  scalpers take profit

[10:18] {ese} volume really thin on most stocks.....hence the volitility.....man there ain't nothin left to sell on alot of the stuff i follow

[10:18] {dino} asei sm l .21 risky

[10:18] {Threei} Long Setup:  HIG  .81

[10:19] {Threei}  stop .73

[10:19] {Threei}  out RIMM in full

[10:19] {ese} csiq usually a couple of mil by this time not even 170 thou.....no wonder it's being tanked

[10:20] {Threei}  if missed HIG first time, here is second chance

[10:20] {Threei}  gave .80 entry

[10:20] {Threei}  sold RIMM too soon eh

[10:21] {magoo} out rim .74 TY boss

[10:21] {Threei}  nice patience mags

[10:21] {buyemsellem} out .70 rimm

[10:21] {Threei}  wtg guys

[10:22] {Threei}  PPD

[10:22] {Threei}  BARRY MINKOW'S FRAUD DISCOVERY INSTITUTE OUT WITH A NEGATIVE REPORT TITLED "PONZI PLUS PYRAMID EQUALS PRE PAID LEGAL" (TIMING UNCERTAIN)

[10:23] {Threei}  half out HIG

[10:23] {Threei}  scalpers take profit

[10:24] {ese} was tath 67.21 dino?

[10:24] {ese} aesi

[10:25] {dino} y

[10:25] {dino} having trouble getting out of it w/spread

[10:26] {wulff} WFC waiting, tight entry

[10:27] {Threei}  what are you trying to do with it wulff?

[10:28] {wulff} Long on 12 break

[10:29] {Threei}  HIG balance stop to under .80

[10:31] {Threei}  out HIG balance

[10:34] {Threei}  US PRESIDENT OBAMA: US GOVT TO DISSEMINATE APPROX $15B TO STATES TO ASSIST WITH MEDICAID

[10:36] {dino} medicaid=afam, amed i thinl

[10:36] {dino} asei stopped, broken

[10:37] {Threei}  market resumes that dreadful slow slide

[10:37] {Threei}  watching CAT klittle bounce to define the resistance for a stop placement,

[10:38] {Threei}  short .05 breakdown is the idea

[10:38] {Threei}  PRESIDENT OBAMA NAMES EARL DEVANEY AS OVERSEER FOR STIMULUS FUNDS

[10:39] {Threei}  26.02 and 26.03 support from last couple dayts

[10:39] {Threei}  if losing 26, and market continues this drift down, this is bottomless

[10:39] {nemo} making a call MOTO?

[10:39] {Threei}  not a scalp trade for me

[10:40] {cujo} stop?

[10:40] {cujo} on the CAT?

[10:40] {Threei}  above .15 or .20

[10:40] {Threei}  hard to tell which is better

[10:40] {Threei}  both are valid

[10:43] {Threei}  come on kitty kitty

[10:43] {Threei}  lose that 26

[10:45] {Threei} Short Setup: HIG  .50 breakdown half lot

[10:45] {Threei}  stop above .65

[10:47] {dino} asei hits low 65s original gut feel was right

[10:51] {nemo} Well Vad, that's what you get for talkin' nice to the kitty.  Your compassion for your houseguest got you this time

[10:51] {nemo} FD:  I was cat sitting for 4 of them last week

[10:52] {Threei}  didn't get me yet

[10:52] {cujo} mom, kitty bein a di*do...

[10:52] {cujo} any southpark fans out there...?

[10:52] {wulff} si

[10:52] {nemo} kept .20 stop...no southpark for me

[10:52] {Threei}  and if you are uneasy with it, just cover here for a negligible stop

[10:54] {Threei} Long Setup:  RIMM  .75

[10:54] {Threei}  stop will be defined by this pullback

[10:54] {Threei}  want it to be under .60

[10:56] {nemo} lookin' for C&H on RIMM?

[10:56] {Threei}  yes

[10:56] {nemo} ty

[10:56] {nemo} kick cat vad

06[10:57] * nemo hold's cat's head under water

[10:58] {Threei}  RIMM invalidated

06[10:59] * nemo watches air gurgle from CAT's throat

[11:01] {Threei}  amazing how many setups don't trigger today

[11:01] {nemo} How many lives CAT got Vad:

[11:02] {nemo} Think the magoo maneuver worth a try?

[11:02] {dino}  obama's daily speech

[11:02] {magoo} ego-maniac]

[11:03] {nemo} It's part of the job description Mags

[11:03] {nemo} Funny, now CAT's got a double bottom so long??? oy weh

[11:08] {cujo} down kitty kitty

06[11:09] * cujo slaps CAT around a bit with a dead fish

[11:12] {dino} cnbc bragging that c is up 10%, whoopie, .18

[11:13] {Threei}  lol

[11:13] {ese} quiet buying goin on thought TICK +331 TRIN .61.....good market internals

[11:16] {Threei}  CA) CANADIAN PM HARPER: UNCLEAR HOW RECESSIONS WILL END UNTIL THE WORLD FIXES PROBLEMS IN FINANCIAL SECTOR

[11:16] {Threei}  hmmm

[11:16] {cujo} u giving up the title?

[11:16] {Threei}  I like the guy but really, do I need more competition?

[11:16] {nemo} I wouldn't call him competition

[11:16] {nemo} He couldn't hold a blowtorch to you

[11:17] {Threei}  this statement by him shows the potential

[11:18] {nemo} Yeah, but he has speech writers.  Do you think he thought it up?

[11:18] {nemo} You're the real deal

[11:19] {dino} asei big move off lows, may be worth another try

[11:19] {dino} strange day for a monday

[11:20] {Threei}  yeah

[11:25] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=akL0whi55dwc

[11:29] {Threei}  yawn

[11:30] {dino} ditto

[11:31] {Threei}  ok CAT

[11:31] {dino} watching mcd, asei for 65ish, mco , and lphi fwiw

[11:31] {Threei}  show us what you are capable of

[11:34] {Threei}  fairtly long consolidation under .15... I guess we can trail stop to .16 now

[11:35] {Threei}  next leg down should take us into 1:1

[11:49] {Threei}  okay... CAT is over 1:1

[11:49] {Threei}  half out .83

[11:49] {Threei}  stop to above b/e

[11:54] {Threei}  planning to cover 1/4 more somewhere closer to .50

[11:54] {Threei}  and see if I can get closer to 25 on the last portion

[11:55] {Threei}  you all fell asleep or there isd anyone breathing still?

[11:55] {cujo} i'm still in

[11:55] {cujo} but yes, fell asleep for a sec

[11:55] {Threei}  covered part?

[11:55] {cujo} yes 2/3

[11:55] {cujo} still live on 1/3

[11:55] {cujo} limit order in at .50

[11:56] {wulff} still in

[11:58] {cujo} you think stop at .88 safe or too close Vad?

[11:59] {Threei}  .91 seems more logical

[11:59] {cujo} ok

[12:01] {Threei}  new low

[12:01] {Threei}  slowly but surely

[12:02] {Threei}  accelerates

[12:02] {Threei}  BAC

[12:02] {Threei}  NY AG FILES MOTION SEEKING THAIN TESTIMONY ON MERRILL BONUSES; AG SAYS BOA INSTRUCTED HIM NOT TO ANSWER

[12:03] {Threei}  lol... CNN headline:

[12:03] {Threei}  president tackles the economy

[12:04] {Threei}  meaning, if he is successful in tackling it, it tumbles down, right?

[12:06] {dino} cnbc. bac up 11%, another whoopie, +.20

[12:06] {Threei}  lol

[12:08] {dino} govt' 40% of c, like thats not nationalization

[12:08] {dino} another 10%+ is coming boys and girls

[12:08] {Threei}  covered 1/4 more CAT

[12:08] {Threei}  +.45

[12:09] {dino} they are wasting our tax money. the fdic is there on the depositors, sieze it and get it over with

[12:09] {dino} ok, my daily rant is over

[12:09] {Threei}  oops

[12:09] {Threei}  I just wanted to join in

[12:18] {wulff} my wife asked me the other day if I was shorting stocks.

[12:18] {wulff} I told her, ummmm, yes.

[12:18] {wulff} She yelled at me for getting some TARP money! 

[12:19] {wulff} LOL

[12:19] {nemo} get rid of her

[12:20] {dino} ironically, the govt would have been better off spending that tarp money on puts

[12:20] {Threei}  lol

[12:20] {nemo} Yeah, but then they would have had to pay capital gains

[12:20] {dino} wou;d have made about 350 billion\

[12:21] {nemo} somebody would have bitched

[12:21] {dino} of course, politically that is "evil"

[12:22] {dino} i have to say, a year ago i never thought we would see 7200s again

[12:25] {Threei}  tide seems to turn

[12:26] {Threei} Long Setup:  RIMM  .05

[12:27] {Threei}  just aa scalp

[12:27] {Threei}  stop under .95

[12:29] {Threei}  no go

[12:30] {dino} obama speecg at 1:00 agaiin

[12:30] {nemo} RIMM bounce candidate 

[12:30] {Threei}  oh boy... what about this time?

[12:30] {nemo} huh?

[12:30] {dino} fiscal something or other

[12:31] {nemo} Ooohhhhhhh

[12:31] {nemo} deficits?  Stimulus? responsibility?  what?

[12:32] {wulff} basketball

[12:32] {nemo} he's giving a speech on basketball?

[12:32] {Threei}  trailing stop to .85 CAT

[12:33] {dino} another lecture i suppose

[12:37] {Threei}  PREVIEW: ATLANTA FED PRESIDENT DENNIS LOCKHART IS SCHEDULED TO SPEAK ON THE US ECONOMY BEGINNING AT 12:40PMET

[12:37] {Threei}  - audience Q&A is expected

[12:37] {Threei}  - reminder: last week Lockhart said recession will most likely continue through the first half of 2009; modest recovery is possible in second half of 2009, but any recovery faces numerous headwinds

[12:38] {Threei}  - Lower mortgage rates are aiding housing, although housing is still burdened by excess inventory.

[12:38] {Threei}  - Financial sector remains troubled, but there are modest signals that the sector is improving a bit.

[12:46] {Threei}  with all Picken's appearances on TV today, CLNE looks quite crappy

[12:48] {Threei}  dies already CAT

[12:48] {Threei}  -s

[12:48] {Threei}  stp can be trailed to .81

[12:49] {Threei}  not that it matters much vs .85... just playing by the book

[12:50] {Threei}  from pure theoretical point of view... as far as I understand, this is the first time Keynes theory is going to be fully tested in real world

[12:50] {Threei}  fascinating

[12:54] {Threei}  .50 loss is coming on CAT

[12:55] {Threei}  will trail stop to .65 after that

[12:57] {Threei}  US) HOUSE SPEAKER PELOSI: HOPES TO BRING MORTGAGE CRAMDOWN TO THE FLOOR OF THE HOUSE ON THURSDAY

[13:00] {Threei}  here we go CAT

[13:00] {Threei}  stop to .65

[13:00] {Threei}  cujo, you covered all or still got some?

[13:01] {Threei}  I think I am lone here

[13:01] {Threei}  alone

[13:01] {wulff} cujo at CAT

[13:02] {wulff} I have half lot

[13:02] {fernp} here I am. Not in CAT but reading you :)

[13:02] {Threei}  okay... I was looking for an excuse to fall asleep till tomorrow

[13:02] {Threei}  but no, wulff and fern had to ruin it for me

[13:03] {dino} .

[13:03] {wulff} good kitty

[13:03] {Threei}  very

[13:05] {dptl} whew..powere is back...good morning all

[13:05] {Threei}  C

[13:05] {Threei}  CNBC'S GASPARINO: SOURCES INDICATE A DEAL WITH THE US GOVT MAY COME AS EARLY AS TODAY OR TOMMOROW; AMOUNT TO CLOSE TO $40B

[13:05] {Threei}  dp :)

[13:06] {wulff} covered. later

[13:06] {wulff} oh TY

[13:06] {Threei}  welcome

[13:06] {Threei}  you got about 50 cents on this one?

[13:10] {Threei}  FED'S LOCKHART: SEE VERY LOW RISK OF HYPERINFLATION, FED MORE CONCERNED ABOUT INFLATION BEING 'TOO LOW' - Q&A

[13:10] {nemo} That's funny...I'm watching prices go up on food, and clothing

[13:11] {Threei}  - Notes will be difficult for China to increase consumption quickly

[13:11] {Threei}  - "worried" about commercial real estate

[13:19] {cujo} Vad, grat call on CAT.  Was away from Comp for a sec.  Got about +.45

[13:19] {cujo} got out  a little earlier than you

[13:20] {Threei}  wtg cujo

[13:20] {Threei}  great trade

[13:20] {cujo} took some time but well worth it. 

[13:21] {nemo} This cram down thing...when was the last time contract law was broken on a large scale?

[13:21] {tomg} does anyone know how to create a sound alert for Vad's highlighted calls?

[13:22] {cujo} right click onhis name

[13:22] {cujo} go to info

[13:22] {cujo} then the highlight tab

[13:22] {cujo} create a rule with his name in it

03[13:22] * Looking up tomg user info...

[13:22] {nemo} right click on the "#floor" icon above.  Then turn on "Beeping"

[13:22] {cujo} but will sound every time Vad says something

[13:23] {cujo} not just for calls...

[13:23] {Threei}  wow... they hid it well

[13:23] {Threei}  wouldn't even think to look for it in there

[13:23] {nemo} Yeah, it'll be ringing in your ear all day.  We need to create the sound effect of Vad patting himself on the back.

[13:24] {nemo} whoa...didn't realize what that was

[13:24] {tomg} ty, i was hoping there could be an alert for just the highlighted calls, for times when I'm away from the computer

[13:24] {dino} lol fiscal respojsibility speech. just doubled deficit and giving handouts all around

[13:24] {nemo} Vad will have to have a window just for calls

[13:25] {Threei}  tom

[13:25] {Threei}  what you can do is to set a sound for words

[13:25] {Threei}  long setup

[13:25] {Threei}  short setup

[13:26] {tomg} ah, ok, that might work

[13:26] {Threei}  won't work when I forget to use the script though

[13:29] {nemo} This must be what they talk about when they say private equity must help.  Either way, we pay...http://www.bloomberg.com/apps/news?pid=20601087&sid=aGqIiR1PCrq8

[13:30] {Threei}  PRESIDENT OBAMA REITERATES PLEDGE TO CUT DEFICIT IN HALF BY 2013, BUDGET TO BE SUBMITTED THIS WEEK WILL LOOK FORWARD 10 YEARS

[13:30] {Threei}  that's serious crystal ball they use in white house

[13:31] {nemo} crystal meth I think

[13:32] {Threei}  that was uncarachteristically brief

[13:33] {cujo} cheerleaders stayed home this time...

[13:33] {dino} this guy hurts the markets more than bush did

[13:44] {Threei}  done with CAT

[13:54] {nemo} Hello...am I back Magoo?

[13:54] {Threei} Long Setup:  UAUA  .5o break if stays above .45

[13:54] {magoo} 'yup

[14:00] {wulff} are you calling a break of the high of the day?

[14:00] {Threei}  invalidated

[14:02] {Threei}  if we get severe market selling, watching NVDA for short, .25 trigger

[14:03] {Threei}  invalidation above .35

[14:04] {nemo} full lot

[14:06] {wulff} UAUA!

[14:06] {wulff} stupid

[14:11] {Threei}  {UAUA} why are you calling me stupid

[14:16] {nemo} what just happened in financials?

[14:16] {magoo} any chance this mkt could close flat?

[14:17] {Threei}  easy

[14:17] {Threei}  just -130 down

[14:17] {Threei}  WHITE HOUSE PRESS SECRETARY REITERATES THAT THE ADMINISTRATION BELIEVES A PRIVATELY HELD BANKING SECTOR IS THE BEST WAY FORWARD

[14:18] {dino}   that is going to getb old fast

[14:18] {Threei}  exactly

[14:18] {Threei}  notice also this smooth way to avoid direct answer

[14:19] {Threei}  there is always a room left for "we don't want to but we have to"

[14:19] {Threei}  ADMINISTRATION BELIEVES A PRIVATELY HELD BANKING SYSTEM REGULATED BY THE FED IS THE BEST WAY FORWARD

[14:19] {Threei}  regulated by the Fed, eh

[14:19] {cujo} ugh

[14:19] {cujo} that sounds fun

[14:19] {cujo} will be buying gold

[14:20] {Threei}  all of it?

[14:20] {cujo} ha, yes.  every last piece.  

[14:20] {Threei}  - asked about Citigroup, says will not comment on individual banks

[14:30] {magoo} vad..what spike we need to bring in fliuppers to long side?

[14:30] {dino} tequilla type

[14:31] {cujo} did someone say tequilla...?

[14:31] {nemo} Who gets the worm?

[14:31] {cujo} tequila doesn't have worm..  

[14:31] {nemo} Yeah, one of them does

[14:32] {Threei}  can't answer like this mags

[14:32] {cujo} mezcal is the one that has the worm

[14:32] {nemo} or did.  I haven't spoken with Tequilla in years.  Me and Jack Daniels haven't spoken since college

[14:32] {Threei}  we need something more substantial than "we don't want to nationalize the banks"

[14:32] {Threei}  this is bs

[14:32] {nemo} Welcome to politics

[14:32] {Threei}  and all spikes on these statements will get faded

[14:33] {Threei}  AIG

[14:33] {Threei}  REPORTEDLY IN DISCUSSIONS WITH GOVT FOR ADDITIONAL FUNDS - CNBC

[14:33] {cujo} diff type of drink, kinda like tequila though...

[14:33] {Threei}  my feeling is,

[14:33] {dino} they do not have a plan, that is the problem. the easy way out was m2m reform based on cash flows....they said no to it

[14:33] {Threei}  until market hears something of substance from these guys

[14:34] {Threei}  and decides it likes it,

[14:34] {Threei}  no rally will be sustainable

[14:34] {dino} aig, now what are we up to 120 billion or so

[14:34] {Threei}  that's what market hates dino, I agree

[14:34] {Threei}  no plan,

[14:34] {Threei}  no details,

[14:34] {Threei}  no hint that they know what they are doing,

[14:34] {Threei}  markert sees a bunch of scared kids

[14:34] {dino} they don''t want to let the system fix itself

[14:35] {Threei}  who throw spagettin at the wall and watch if anything sticks

[14:36] {dino} you must accept the pain or it will last much longer and cost much more. already citi is at something like 80 billion, when does this nonsense end? in every other business the stockholders get wiped out

[14:36] {Threei}  when techs crashed in 2000,

[14:36] {Threei}  how come no bailouts were even contemlated?

[14:37] {Threei}  no one even thought of saving any of them

[14:37] {Threei}  and more importantly,

[14:37] {Threei}  if they tried,

[14:37] {Threei}  would any of those "rescued" companies survive anyway?

[14:37] {dino} nope

[14:37] {Threei}  seems to be painfully obvious that they wouldn't

[14:38] {Threei}  I don't see how this is principally different

[14:38] {Threei}  throw whatever money you want at them,

[14:38] {Threei}  if they are insolvent, they are insolvent

[14:38] {Threei}  toxic assets are not going anywhere

[14:38] {cujo} well, to be devils advocate, our economy didn't depend on a lot of the .coms making it through the crash.  

[14:38] {dino} well, some major newspaper just filed, whats the difference.

[14:38] {Threei}  no, not to such degree

[14:39] {Threei}  but the point is,

[14:39] {Threei}  these measures can't save them anyway, just as they wouldn't save techs

[14:39] {dino} also, look now they talk of bankruptcy loans for gm, after wasting 30+ billion

[14:39] {cujo} yeah, good money on bad. 

[14:39] {Threei}  so, we are going in the direction of inevitable crash for them anyway,

[14:40] {Threei}  only we burn incredible amount of money in the process

[14:40] {Threei}  and the worse yet,

[14:40] {dino} you get the carrot

[14:40] {Threei}  we are reworking the very fabric of the society and psychology of ther public

[14:41] {Threei}  What was it that undermined the economic structure of the Soviet Union?

[14:41] {Threei}  absence of motivation to work

[14:41] {dino} if it wasn't an election year in sept. when this all started, they would have went into bankruptcy before throwing all the hundreds of billions around

[14:41] {Threei}  system where better work was not better rewarded,

[14:41] {cujo} like unions in the US...

[14:41] {Threei}  laziness was not punished

[14:42] {Threei}  so people pretended they worked while state pretended it paid

[14:42] {nemo} which was the famous saying

[14:43] {Threei}  my rant for the day is over

[14:43] {cujo} i can take over if you want...

[14:43] {Threei}  comrade magoo has the tribune

[14:43] {Threei}  or comrade cujo

[14:43] {nemo} You moved here just to go through it all over again

[14:44] {Threei}  no kidding, lol

[14:44] {Threei}  what's next, Antarctica?

[14:44] {cujo} COMMUNISM: You have two cows. The government takes both and gives you spoiled milk.

[14:44] {dino} lol

[14:44] {dawg} jeeeee...sus christ RIMM scalp in .35 out .47 still goin'

[14:44] {Threei}  if penguins start building socialism, what do I do next?

[14:45] {nemo} get a tux?

[14:47] {Threei}  TREASURY WILL BEGIN STRESS TESTS ON FEB 25 WITH "AN AGRESSIVE TIME TABLE" - CNBC'S LIESMAN

[14:48] {nemo} Folks, the trader tax has been inserted in the Universal Health Care Bill

[14:48] {Threei}  dawg... careful with RIMM scalps on a ,long side

[14:49] {Threei}  looks like we are headed for the crash

[14:49] {dawg} OK thanks Vad done for now

[14:49] {Threei}  US SENATOR LEVIN: PLANS TO INTRODUCE BILL TO TIGHTEN OVERSIGN OF PENTAGON WEAPONS PROGRAMS

[14:49] {Threei}  not saying they are impossible, just keep size to a min

[14:50] {Threei}  and let it slide farther than you normally would before trying entry

[14:50] {dawg} thanks Vad 

[14:54] {Threei}  see what I mean?

[14:54] {Threei}  straight down through the day low, no slightest attempt to bounce

[14:54] {Threei}  normally you would try to get in around .15

[14:55] {Threei}  in this case you'd better wait for another 10-15 cents down

[14:55] {Threei}  and even that ws what, 10 centss bounce

[14:55] {dawg} k

[15:00] {fernp} NVDA short w/stop above .36?

[15:00] {Threei}  with next wave of market selling, worth a try

[15:12] {cujo} ss CAT .30

[15:12] {cujo} stop at .46

[15:12] {nemo} CAT's going up

[15:12] {cujo} thanks...

[15:13] {cujo} stpd

[15:13] {cujo} ugh

[15:14] {cujo} stpd = stopped

[15:21] {Threei}  reletnless

[15:24] {nemo} CALLING THE PPT!!!!

[15:26] {dino}  ugly days

[15:26] {larisa} Paulson starting to look good to me. At least he treid to explain things :)

[15:26] {Threei}  lol

[15:26] {Threei}  Terrific Tim is MIA

[15:27] {nemo} It's the end of the world as we know it...and Iiiiiii feeeeeelllll fine.....

[15:28] {dino} -14.4% dji since 02/09/09; -12% s/p; -12% ndx

[15:36] {Threei}  hey, at least we have consistency across the board

[15:36] {nemo} Yeah, Red is dead

[15:41] {nemo} So, Larisa,,,green today?

[15:41] {Threei}  lol

[15:41] {Threei}  -220

[15:41] {Threei}  am I ever so glad I am staying very conservative day after day

[15:41] {Threei}  a few small stops, nice winst on RIMM and CAT

[15:41] {Threei}  keep day positive

[15:42] {Threei}  nothing outstanding but hell

[15:43] {larisa} I forgot how green looks nemo :)

[15:43] {Threei}  ah come on, we had green Fri

[15:44] {nemo} Did we...so long ago

[15:44] {Threei}  you don't mean your meory span doesn't go that far, do you

[15:44] {nemo} vodka

[15:44] {dino} no green friday

[15:44] {Threei}  ok, on NASDAQ

[15:45] {dino} ok 

[15:45] {Threei}  :)

[15:45] {larisa} lol

[15:45] {nemo} friggin' optimists

[15:45] {Threei}  see how these "no nationalization" talks lose their power in a hurry?

[15:45] {Threei}  jawboning will get you just so far

06[15:45] * nemo slaps magoo around a bit with a large with a screaming alarm clock

[15:46] {Threei}  also... don't you think that we can safely dismiss conspiracies about giverment's ability to manipulate markets?

[15:47] {Threei}  I mean, if they really could... would we witness this murderous reaction on all latest dovt actions?

[15:47] {nemo} Wall Street's doin' it to get better prices :)

[15:47] {Threei}  uhhu

[15:47] {nemo} kidding

[15:47] {Threei}  I know

[15:47] {Threei}  I would write an article on manipulation

[15:48] {Threei}  but for some reason this topic invokes so much anger is conspirasy theorists

[15:48] {Threei}  is = in

[15:48] {larisa} Geithner will be silent until next year.. see if it affects the market :)

[15:48] {Threei}  I just don't want to waste my time on deleting angry posts

[15:48] {Threei}  yeah, maybe they meant it after all, eh

[15:48] {Threei}  when said next year

06[15:50] * Threei is bidding RIMM at $9

[15:50] {Threei}  who knows, maybe I'll get my fill this week

[15:50] {nemo} that mexican accent again

[15:51] {Threei}  no, that would be "pheel"

[15:51] {Threei}  or pheal

[15:51] {dino} turnaround tuesday coming up

[15:52] {Threei}  why?

[15:52] {nemo} turndown tuesday

[15:52] {dino} no other reason than "why not"

[15:52] {larisa} do not ask why, lets believe him :)

[15:52] {Threei}  oh

[15:52] {Threei}  I don't mind

[15:52] {Threei}  for a change I'd be glad to play long

[15:52] {cosmo} i believe

[15:52] {dino} 740 s/p nov lows

[15:52] {cosmo} :)

[15:53] {dino} ndx still 108 pts above

[15:53] {nemo} Actually, look at how many companies aren't at 52 week lows.  

[15:54] {Threei}  US TREASURY DECLINES COMMENT ON ADDITIONAL GOVT AID FOR AIG

[15:54] {Threei}  why?

[15:54] {nemo} We don't need to know

[15:54] {Threei}  and are not supposed to ask?

[15:54] {nemo} Yes comrade

[15:54] {nemo} to Dherzinski with you

[15:55] {dino} well, back to the 300 pt daily range

[15:56] {nemo} I hear Lubyanka has nice drapes

[15:56] {larisa} nemo, you are overeducated :)

[15:56] {Threei}  no kidding, lol

[15:56] {dptl} have a good evening all

[15:56] {nemo} Spend too much time with Ruskies

[15:56] {larisa} bye dp

[15:56] {Threei}  take care dp

[15:57] {dino} cya dp

[15:57] {nemo} That was a quiet 250 points down

[15:57] {Threei}  yeah

[15:57] {Threei}  no panic

[15:57] {Threei}  no huge volume

[15:58] {Threei}  no sharp selloff

[15:58] {Threei}  what does it tell us?

[15:58] {nemo} Yeah, nobody knows and it ain't worth guessin'

[15:58] {cosmo} no capit. yet

[15:58] {Threei}  yup... it's far from over

[15:58] {nemo} Great...

[15:59] {Threei}  orderly liquidiation

[15:59] {nemo} Parachutes and hemmrhoid pillows

[15:59] {Threei}  women and children first to the exit

[15:59] {Threei}  nothing to see here, move away

[15:59] {nemo} Nope...me first

[16:00] {Threei}  okay guys

[16:00] {Threei}  thank you all

[16:00] {nemo} Well Mr. Threei, how was the play?

[16:00] {Threei}  have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {larisa} later all

[16:00] {nemo} P&Q

[16:00] {vint} bye guys, see u all tomorrow

[16:00] {fernp} good evening all

Fri Feb 20 2009

Ending the week on a strong note, Not a single losing day which in and of itself is not a small feat when the markets are hurting like this. Short ADBE started us out, and the rest of the day was in tune - almost everything worked like charm.

Session Time: Fri Feb 20 00:00:00 2009

[08:24] {larisa} good morning :)

[08:25] {Threei}  Good morning larisa

[08:25] {larisa} threei :)

[08:30] {Threei}  JAN CONSUMER PRICE INDEX M/M: 0.3% V 0.3%E; CPI EX FOOD%ENERGY M/M: 0.2% V 0.1%E;

[08:30] {nemo} good morning...the futures look great?

[08:30] {Threei}  both, futures look and future looks

[08:31] {nemo} have no idea about future?

[08:31] {Threei}  why... I am pretty sure sun will rise tomorrow

[08:31] {magoo} mornink comrades

[08:32] {nemo} but will I?

[08:32] {Threei}  and I would venture as far as predict after tomorrow as well

[08:32] {Threei}  magoo :)

[08:33] {Threei}  magoo, it's a pleasure to watch you connecting these days... smoothly, with no kicks, screaming, falling, climbing back up...

[08:33] {magoo} roflol..i was jusdt thinking that..how enjhoyable its been

[08:34] {Threei}  took me just a month of begging you to ask KS for help with mirc

[08:34] {Threei}  no one can call you stubborn, can they

[08:35] {magoo} nope...looky dino..he hasnt got it correct yet...

[08:36] {Threei}  how about some brotherly love... paying it forward... helping him now that you got it

[08:36] {cujo} good morning

[08:36] {Threei}  cujo :)

[08:36] {cujo} is someone handing out money?

[08:36] {cujo} i want in... 

[08:37] {Threei}  white house does cujo... with congress

[08:37] {cujo} ahhhh, thought someone in the room might have won the lottery... 

[08:38] {Threei}  (HU) HUNGARIAN GOVT SPOKESMAN: PM PROPOSES TO REVISE LAW THAT WOULD ALLOW MARKET REGULATOR TO BAN SHORTING

[08:38] {magoo} cant do it vad lol...we dont work that way...brought up on negative reinforcemt

[08:38] {Threei}  yup, that'll help them

[08:38] {Threei}  mags, you sure I am not you third long lost brother?

[08:41] {Threei}  (FR) FRENCH EU MIN: HOPES THAT EU STATES WOULD AID ANY MEMBER IN FINANCIAL DISTRESS

[08:41] {magoo} mmy dad did take a misstress in the cold war days vad

[08:43] {Threei}  a lot of hectic news headlines from Europe

[08:44] {Threei}  GE under 10 again and looks comfortable staying there

[08:54] {magoo} see dino vad

[08:55] {Threei}  yup

[08:55] {Threei}  painful

[08:58] {hawkfan4} morning

[08:58] {Threei}  hawk :)

[09:00] {hawkfan4} end of days part whatever, i've lost count

[09:01] {magoo} we may be setting up for blaclk monday...this is getting badddddd

[09:01] {dino} or capitulation friday

[09:01] {hawkfan4} i thought that too when i first looked at the futes this morning, scary stuff

[09:01] {patience} its options expiry today isnt it

[09:01] {dino} rimm 40 area

[09:02] {hawkfan4} yes

[09:02] {Threei}  GLD nice gap over highs

[09:03] {Threei}  is gold knocking on 1000 or broket it already?

[09:04] {patience} knocking

[09:04] {patience} 997.4

[09:04] {dino} ge new lows

[09:05] {Threei}  FAS under 4.50

[09:06] {nemo} faz jumps 10 overnight

[09:07] {dino} ge market cap $100 billion, msft could almost buy them w/theirs' and gates' cash

[09:07] {fernp} Hello everybody

[09:07] {hawkfan4} VIX only at 47, high is 89

[09:07] {Threei}  fern :)

[09:07] {gen} gm everybody

[09:08] {Threei}  volatility is way lower than it used to be in Nov, hawk

[09:08] {Threei}  gen :)

[09:08] {gen} Vad :)

[09:09] {Onix} gm all

[09:09] {Threei}  onix :)

[09:10] {magoo} problem is...psychologically, mkt participants are not so worried about missing a turn anymore..as more afraid of a crash 

[09:11] {Threei}  so let's crash and get it over with

[09:11] {magoo} so a selloff can easily escalate..whereas a bounce most likely used as exits

[09:13] {Threei}  that's how real capitulatory selloffs are usually developing

[09:13] {Threei}  until masses just give up and flood all the channels with "just get me out so I could never hear about stock market again"

[09:14] {Threei}  TRMP

[09:14] {Threei}  GETS DELISTING NOTICE FROM NASDAQ; CO. DOES NOT INTEND TO APPEAL

[09:14] {Threei}  - Shares to be delisted from Feb 26, 2009

[09:14] {Threei}  - Reminder: 02/17 00:54:01 TRMP: TCU 2 unit and TRMP file for bankruptcy

[09:14] {dino} hmmm, what type of music today.....

[09:15] {dino} trump filed bankruptcy yesterday i think

[09:15] {dino} casino that is

[09:15] {Threei}  a few days ago, yeah

[09:15] {Threei}  third time

[09:18] {dino} t, vz upgraded at goldman

[09:20] {dptl} good morning all

[09:21] {Threei}  dp :)

[09:23] {magoo} shorts may cover today vad...because had big down wk and afraid of some weekend anncmt

[09:23] {Threei}  that's a valid assumption

[09:23] {Threei}  another, just as valid is,

[09:23] {Threei}  longs are going to run in panic

[09:23] {nemo} I can't imagine any announcement being good

[09:24] {nemo} but who wants to be caught in any position for any length of time

[09:25] {Threei}  (FR) FRENCH FIN MIN LAGARDE: CONSENSUS IS THAT LEADERS WILL NOT ALLOW ANOTHER 'LEHMAN-TYPE' EVENT TO OCCUR AGAIN

[09:25] {Threei}  okay guys

[09:25] {Threei}  plan is the same

[09:25] {Threei}  do not form opinions,

[09:26] {Threei}  stay careful, stay picky,

[09:26] {nemo} be one with the market

[09:26] {Threei}  let's wait for safe play to shape up,

[09:26] {wulff} wait, i think that...

[09:26] {Threei}  dismiss the anxiety of missing the play,

[09:26] {Threei}  let them go easily,

[09:27] {Threei}  wait for the one that priovides best odds but first and foremost, tight stop

[09:27] {magoo} coffee

[09:27] {Threei}  you know what our major advantage over most ot ofther market participants is, right?

[09:28] {cujo} what is that?

[09:28] {Threei}  ability to stay on a sideline

[09:28] {dino} relax

[09:28] {Threei}  unlike most of them who either have to be fully invested,

[09:28] {Threei}  or obliged to make market

[09:28] {cujo} yes, makes sense. 

[09:29] {Threei}  so take the full advantage of our advantage

[09:29] {Threei}  sit in the trenches and wait for weak anthelope

[09:29] {cujo} FAZ taking off

[09:30] {Threei}  watching ADBE with short idea in mind

[09:31] {Threei}  need it to stabilize and form a range

[09:31] {Threei}  .80 support so far

[09:31] {Threei}  hopefully it doesn't break it right away

[09:31] {Threei}  ugh

[09:32] {dino} damn, where did i put my 7000 dji hat

[09:33] {dino} esi +2

[09:33] {dino} edu took beating yesterday, watching esi, cpla, apol

[09:33] {larisa} PALM green :)

[09:34] {dino} dji, does not matter...eyes on ndx, s/p

[09:34] {Threei}  yesterday:

[09:34] {Threei}  Sprint reportedly has exclusive agreement to sell the PALM Pre through 2009 - unconfirmed report

[09:35] {Threei}  OK, here is ASDBE bounce

[09:35] {Threei}  ADBE

[09:35] {Threei}  let's see if we can time short entry

[09:36] {Threei}  not really, didn't form anything readable

[09:38] {Threei} Long Setup:  GLD  half lot .71 if stays above .50

[09:38] {hawkfan4} scalped GS from 83.09 to 83.97, whole trade took 40 seconds

[09:38] {Threei}  getting slow eh hawk

[09:39] {hawkfan4} lol

[09:39] {magoo} in gld

[09:39] {dino} rimm sm l .00

[09:39] {dino} wide

[09:39] {cujo} in

[09:40] {Threei}  that quick dive into .50 was aggressive entry opportunity... it's me who is getting slow

[09:40] {dino} t vz pos.

[09:40] {dino} positive

[09:41] {Threei}  let's trail stop to under .60

[09:41] {dino} apol rockin'

[09:41] {dino} esi too

[09:43] {ese} mornin

[09:43] {Threei}  ese :)

[09:43] {ese} esi that a a stock dino

[09:43] {dino} yes, itt edu

[09:44] {Threei}  come on already, you yellow shiny pos

[09:44] {dino} what happens to the 20 year bond if banks get nationalized? any effect?

[09:45] {nemo} talk nice to it

[09:45] {ese} have you checked out MORN dino

[09:45] {Threei}  no worky

[09:45] {cujo} stpd

[09:45] {ese} dn 3 bills

[09:46] {nemo} adbe

[09:47] {ese} tried 1/2 lot WBMD....didn't get a fill

[09:47] {ese} slow on the uptake thiws morning i quess

[09:47] {Threei}  who is in GLD, feel free to take full or half

[09:48] {Threei}  it trades too nervously here

[09:48] {Threei}  and went up right into dropping upper BB

[09:53] {dino} ndx flat

[09:53] {dino} c hits 1.902

[09:53] {fernp} ADBE breakdown?

[09:54] {Threei}  range is .55 - .75

06[09:54] * dino slaps ese around a bit with a large trout

[09:54] {dino} trying to wake you up

[09:54] {Threei}  not sure fern

[09:54] {Threei}  market doesn't want to sell off

[09:54] {Threei}  and ADBE won't crash without it

[09:55] {Threei}  it still looks like a good candidate

[09:55] {ese} tks i needed thaqt

[09:55] {Threei}  just trying to form the best way to play it

[09:56] {Threei}  ideally, if we get one more upward spike in the market, double top and selloff,

[09:56] {Threei}  and ADBE doesn't break uppoer limit of the range,

[09:56] {Threei}  that's the scenario to short it

[09:56] {fernp} ty 

[09:57] {Threei}  so far so goodf

[09:57] {Threei}  let's try .58 trigger

[09:57] {Threei}  if stays below .75

[09:57] {Threei}  and if market dives without making new high for the day

[09:58] {Threei}  if NQ drops sharply, grab ADBE aggressively

[10:03] {_redcat} qcom +.50

[10:04] {Threei}  (FR) REPORTEDLY FRENCH 2009 BUDGET DEFICIT APPROACHES 5% OF GDP

[10:04] {Threei}  wtg

[10:05] {magoo} 74 down

[10:05] {dptl} adbe stop stil .75?

[10:06] {Threei}  yup

[10:06] {dptl} ty

[10:06] {Threei}  need it to drop into .50 again to start trailing it

[10:07] {ese} think were looking at an up day by the end of it looking at the q's and my watch lists

[10:07] {nemo} except for the intial drop market's been trending up

[10:09] {magoo} vad..we in anything..i was doing my own

[10:09] {cujo} in ADBE magoo

[10:09] {Threei}  ADBE short

[10:09] {cujo} {&Threei}  let's try .58 trigger

[10:09] {cujo} {&Threei}  if stays below .75

[10:09] {Threei}  with stop .75

[10:11] {Threei}  market new high for the day, ADBE doesn't try to break even high of this recent range, let alone its high

[10:11] {nemo} short fas if breaks .50

[10:11] {Threei}  in my eyes it keeps it a valid short candidate

[10:12] {Threei}  stop can be trailed to above .70 if you want to be real anal-retentive about risk control

[10:12] {Threei}  no nemo

[10:12] {Threei}  sharp drop into support

[10:13] {Threei}  not a good setup for continuation

[10:13] {Threei}  if it bounces a little, forms tighter consolidation, then breaks .50 - then yes

[10:13] {nemo} duh...45

[10:13] {nemo} support that is

[10:13] {nemo} DENSA member

[10:14] {Threei}  OK, now ADBE stop can be trailed to above .70 by all

[10:14] {Threei}  oh, and this is not a scalp trade for me

[10:14] {cujo} Vad, when you update a stop price, does that change where the 1:1 is al well?

[10:14] {Threei}  as a rule, no

[10:15] {cujo} got ya. 

[10:15] {cujo} ok

[10:15] {Threei}  it may if a stop is trailed while trade is hesitating around trigger

[10:15] {Threei}  you know... triggered, started bouncing around,

[10:15] {Threei}  not defining direction,

[10:15] {Threei}  so at some point we tighten it,

[10:15] {cujo} got ya. 

[10:15] {Threei}  not because the trade has developed

[10:16] {Threei}  but because we are too uncertain and want to control risk tighter

[10:16] {hawkfan4} COCO interesting

[10:16] {Threei}  then yes, 1:1 can be changed as well

[10:17] {nemo} woul .47 be another short entry for ADBE?

[10:17] {Threei}  with stop above .60, yes

[10:18] {Threei}  as always... a bit more risky

[10:19] {Threei}  ADBE 1:1 is within spit distance

[10:19] {Threei}  here it is

[10:20] {Threei}  covering half on a first uptick

[10:20] {Threei}  .35 half out

[10:20] {Threei}  +.23

[10:21] {Threei}  stop to above .60

[10:21] {wulff} +.23

[10:21] {magoo} vad...explain why u liked adbe short even with mkt spike going on please?

[10:21] {Threei}  it lost important support on daly,

[10:22] {Threei}  after initial volatility it stopped going up with market,

[10:22] {Threei}  and it triggered

[10:22] {Threei}  which in and of itself turning off the thought process for me :)

[10:22] {Threei}  trigger comes, my fingers execute the trade

[10:23] {Threei}  brain is only watching in helpless amazement

[10:23] {wulff} we looking for cap.?

[10:23] {magoo} ok..ty

[10:23] {Threei}  1:2 ADBE

[10:23] {Threei}  cover 1/4 more on a first uptick

[10:23] {Threei}  .18 out

[10:23] {Threei}  +.40

[10:24] {fernp} out. Thank you

[10:24] {cujo} thanks Vad

[10:24] {Threei}  last portion here witgh stop above .50

[10:24] {Threei}  welcome guys

[10:24] {Threei}  actually, wait

[10:24] {Threei}  stop above .,40

[10:25] {Threei}  C

[10:25] {Threei}  COMPANY HAS REPORTEDLY NOT HAD CONVERSATIONS WITH GOVT OVER POTENTIAL NATIONALIZATION - UNCONFIRMED REPORT

[10:25] {Threei}  uh oh

[10:25] {Threei}  WFC

[10:25] {Threei}  SHARES TRADE BELOW $10.00 FOR FIRST TIME SINCE 1995

[10:25] {cujo} excuse me, i need to go withdraw some money..

[10:26] {dino} out apol .60, +1.10

[10:26] {wulff} +.48

[10:26] {cujo} nice trade dino

[10:26] {nemo} short FAS yet? :) kidding

[10:26] {Threei}  I would expect much more violent reaction on this news

[10:26] {dptl} ty adbe...+.40

[10:26] {Threei}  not sure

[10:26] {Threei}  welcome dp

[10:26] {dino} ty

[10:26] {nemo} expectations baked in?

[10:27] {Threei}  either that, or

[10:27] {Threei}  market starts changing its mind about nationalization, at least for some banks

[10:27] {hawkfan4} HIG .73, stop .64

[10:27] {nemo} We're all comrades brothers and friends now!!!

[10:28] {dino} v sm esi l .24 wide

[10:30] {dino} mcd sm l .50

[10:32] {dino} lol c, just like they did not need to raise capital

[10:32] {Threei}  well well well ADBE

[10:32] {Threei}  we have 1:3

[10:32] {Threei}  not sure if full cover is in order yet

[10:32] {Threei}  I'll try for more wity stop trailing

[10:33] {Threei}  above .30 at this point

[10:33] {Threei}  [10:14] {Threei} oh, and this is not a scalp trade for me

[10:33] {Threei}  no kidding eh

[10:33] {nemo} Got that silk sling?

[10:34] {Threei}  never too far

[10:35] {magoo} hawk..what levels u watching now for GS?

[10:35] {Threei}  hawk, don't tell him

[10:36] {Threei}  or, answer worthy a preschoolers in a sandbox:

[10:36] {Threei}  those are my levels, you watch your own

[10:36] {hawkfan4} watching it close, if it holds here and pops i like it.  83.50 break would be sweet. under .75 not so much

[10:36] {hawkfan4} lol vad

[10:37] {nemo} Grow up, VAD!

[10:37] {Threei}  never

06[10:37] * magoo slaps Threei around a bit with a large trout

[10:37] {magoo} u are so so lucky revised slaop fest no worky on magoos computater

[10:38] {nemo} cover ADBE yet?

[10:38] {hawkfan4} in .09 mags

[10:38] {magoo} ty hawk

[10:38] {Threei}  I enjoy pillow fights, running with scissors, painting outside the lines and not eating my veggies too much to grow up and give it all up

[10:38] {Threei}  why nemo?

[10:38] {Threei}  stop is above .30

[10:39] {nemo} greedy?

[10:39] {Threei}  which is incidentally, just above upper BB

[10:39] {magoo} try walking on thin ice vad...thats real fun..adrenali

[10:39] {ese} AAARRRRRBA BA BA BA   ARBA long  .50 1/2   for old times 

[10:39] {nemo} it's also the peak of the last spike

[10:39] {Threei}  right

[10:39] {Threei}  until it's not broken, downtrend is intact

[10:40] {nemo} Once when I was a kid, I was using my brother's pocket knife to whittle.  He wanted it back, so he grabbed it by the blade.  I couldn't resist...

[10:40] {Threei}  good one on GS guys

[10:41] {Threei}  do people drive much SAAB in Europe?

[10:42] {Threei}  they contemplate going independent

[10:42] {fernp} it is an important brand here.

[10:43] {Threei}  okay, makes sense then

[10:43] {dino} green ndx

[10:43] {Threei}  it's represented in NA so poorly, would be impossible to justify

[10:43] {dino} gj on gs

[10:43] {ese} yup

[10:44] {dino} comp green

[10:44] {nemo} adbe shure dancing around the cover

[10:44] {Threei}  C SPOKESPERSON: CAPITAL BASE 'VERY STRONG'

[10:45] {Threei}  but of course

[10:45] {dino} me thinks he does protest too much

[10:45] {Threei}  that's probably why they discuss nationalization

[10:45] {Threei}  done with ADBE

[10:45] {nemo} Yeah, where have we heard that  before

[10:45] {dino} n over s today

[10:45] {ese} out ARBA .58 +.08

[10:46] {ese} just for old times

[10:46] {Threei}  blast from the past ese :)

[10:46] {magoo} surprise osama on TV

[10:46] {ese} the little profits.....dey do add up

[10:46] {Threei}  do we live to see a trade on JDSU also?

[10:46] {ese} lets check it out

[10:47] {ese} it's gonna bounce from those levesl for sure

[10:47] {Threei}  dino, he protests more:

[10:47] {Threei}  SPOKESPERSON: CAPITAL BASE 'VERY STRONG', TRIMMING ASSETS ON BALANCE SHEET

[10:47] {Threei}  - Continuing to streamline business organization for future growth potential

[10:48] {ese} some seriously stupid prices on some stock thats for sure

[10:48] {Threei}  the only thing he didn't indicate:

[10:48] {Threei}  positive growth or negative?

[10:48] {nemo} Vad prediction yet for eod?

[10:48] {Threei}  gosh

[10:48] {nemo} profound

[10:48] {Threei}  even magoo doesn't ask that until after lunch, lol

[10:49] {nemo} well, it's like preempting on the penny in an ask

[10:49] {ese} L WOOF full .63

[10:50] {wulff} its wulff

[10:50] {Threei}  lol

[10:50] {ese} appologies

[10:51] {Threei}  watching RIMM

[10:51] {Threei}  it consolidates cloer to .50

[10:51] {Threei}  if forms support close enough for a tight stop, will be interested

[10:51] {ese} ack aka dak....dak acka ack........get up there

[10:51] {ese} bugs bunny magic

[10:51] {Threei}  nah, dropped too far

[10:51] {magoo} guys..im going all out in this crisis...looking at porn early today..it u recall..mkt bounces 

[10:52] {Threei}  uh oh

[10:52] {nemo} taking the laptop to the bathroom magoo?

[10:52] {ese} too funny mags

[10:54] {ese} wheres patience been lately....holidays

06[10:55] * magoo slaps nemo around a bit with a large trout

06[10:55] * nemo slaps magoo around a bit with a large a year's subscription to Hustler

[10:58] {Threei}  WOFF actyually looks nice ese

[10:58] {Threei}  WOOF

[10:59] {Threei}  stop under .50?

[10:59] {ese} i'm likin it

[11:00] {ese} yes

[11:01] {ese} stopped...damn

[11:02] {ese} hmmmmmmm

[11:02] {ese} to re enter or not to re enter

[11:03] {ese} not

[11:03] {nemo} no momentum in market ese

[11:03] {ese} indeed

[11:05] {larisa} poor HIG

[11:07] {_redcat} +.40 RIMM

[11:08] {dino}   gj

[11:08] {ese} nice redcat

[11:08] {_redcat} thnk u

[11:09] {Threei}  RIMM

[11:09] {Threei}  MORGAN KEEGAN MAKES POSITIVE COMMENTS, CITING VALUATION (TIMING UNCERTAIN)

[11:10] {ese} back at WOOF L .58 full

[11:11] {dino} hate to see what would happen if said bad things

[11:11] {Threei}  lol, no kidding

[11:12] {dino} dji, s/p at low

[11:14] {dino} fdo, dltr, wmt holding well this week

[11:15] {wulff} no need to go long yet, eh?

[11:16] {Threei}  nah

[11:16] {wulff} Double bottoms

[11:17] {tomg} ceco vad?

[11:18] {Threei}  amazingly strong

[11:18] {Threei}  tought to find entry

[11:18] {tomg} ok ty

[11:22] {dino} ahhh, VH on, can't lose

[11:24] {wulff} madoff NEVER  bought securities?

[11:24] {dino} lol

[11:25] {magoo} can u imagine madoff? never even bought thgem

[11:26] {dino} well, then it is fine, all $ in cd's right

[11:28] {magoo} GS getting killed

[11:28] {magoo} news vad

[11:28] {Threei}  no

[11:30] {dino} out mcd flat

[11:31] {wulff} you guys still holding ADBE?

[11:31] {Threei}  no

[11:31] {magoo} man..u blow a .08 breath-a-lizer and u get a nite in the pokey...madoff sitting in multi million penthouse

[11:31] {ese} all out woof .70

[11:31] {Threei}  last 1/4 was closed on trailing stop at .32

[11:31] {ese} +.12

[11:32] {wulff} curious, not me either

[11:33] {cujo} GS = UGL

[11:34] {cujo} UGLY

[11:34] {Threei}  {GS} I demand second opinion

[11:34] {magoo} lol cujo..i was looking up sym UGL

[11:35] {cujo} ha ha sry

[11:35] {cujo} typo

[11:35] {magoo} bad dog

[11:35] {Threei}  bounce time GS

[11:35] {magoo} in .49

[11:37] {Threei}  don't lose mney on it from this point

[11:37] {magoo} out .75 TY BOSSASAURAS

[11:37] {cujo} nice bounce call

[11:38] {magoo} its team work..i bring it to the table...and vad serves it up

[11:39] {cujo} ANy thoughts HIG Vad?

[11:41] {Threei}  just a sec, lemme finish GS

[11:42] {Threei}  ok

[11:42] {Threei}  HIG, I can't bring myself to go long on it

[11:42] {cujo} yeah

[11:43] {Threei}  6 break however, starts shaping up as possible short trigger

[11:43] {cujo} ok, have low alert set on it

[11:43] {Threei}  if market starts its customary pnaicky drop

[11:43] {magoo} rimm prob better bouncer somewhere

[11:43] {Threei}  and if HIG forms good resistance

[11:43] {magoo} {magoo} its team work..i bring it to the table...and vad serves it up

[11:44] {Threei}  so far resistance levels a bit too far for my taste

[11:44] {magoo} thought that was clever lol

[11:44] {Threei}  it was mags but we are big on negative reinforcement only

[11:44] {Threei}  so consider grave silence a compliment {G}

[11:45] {Threei}  and btw... GS is coming into support for bounce scalp

[11:45] {Threei}  watch market for clue for entry

[11:47] {Threei}  double bottom zone if only market helps

[11:48] {magoo} looks down yet

[11:48] {magoo} under 80 imo

[11:49] {nemo} Mags get's the booby prize

[11:50] {wulff} too quick for me 

[11:50] {cujo} got some of that GS, thanks Guys (since mags is bringing it to the table and Vad is serving it up)

[11:51] {Threei}  lol

[11:51] {Threei}  fries with that?

[11:51] {magoo} bacon?

[11:51] {cujo} yup, and an extra side of Bacon....

[11:52] {Threei}  now you did it

[11:52] {Threei}  see you in 15

[11:52] {Threei}  don't buy GS here

[11:52] {magoo} darn..now craving bacon double cheeseburg for lunch

[11:52] {Threei}  third time, way too dangerous

[11:52] {nemo} short?

[11:52] {Threei}  no

[11:52] {Threei}  just let it be

[11:53] {nemo} Great...The Beatles

[11:54] {dino}     esi hod

[11:58] {magoo} am i back??

[11:58] {nemo} unfortunately...yes

[11:59] {magoo} gthat does itttttttttttttttttt

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

[11:59] {nemo} missed

[11:59] {nemo} ppppppphhhhhhhhhhhtttttttttttttttt!!!!!!!!!!!

[12:02] {magoo} cnbc girls irretating here...laughing about mkt crash

[12:02] {magoo} suggestiong getting into golds

[12:02] {cujo} i've made the full time switch to BBErg tv

[12:02] {cujo} just the lack of Gasperino is worth it....

[12:03] {Threei}  how is it bad mags

[12:03] {magoo} i wish parent company GE would slash 2/3 of their jobs..then id be laughing arogant f'ers

[12:03] {Threei}  didn't you have enough men crying about it?

[12:04] {magoo} poor dino..anfd i have the poweer tyo help him...but i wont he he

[12:05] {Threei}  are you going to laugh at him and kick him too?

[12:07] {Threei}  magoo??

[12:08] {magoo} huh?

[12:08] {Threei}  never mind... just wanted to know how far your cruelty goes

[12:08] {wulff} here comes rimm

[12:08] {Threei}  to high five you if far enough

[12:12] {Threei}  feels like one more little pullback, then strong upward move

[12:12] {magoo} missed that GS gift

[12:13] {Threei}  see iof we get STT pulling back closer to .80

[12:14] {Threei}  and watch market for entry timing

[12:14] {Threei}  aalso, hate to do it but

[12:14] {Threei}  WFC is long on 10 break if market spikes and if holding above 9.90

[12:17] {dino} partial fill cpla .60 l

[12:21] {ese} have to go see you all later....tks for dcc nemo....

[12:21] {Threei}  take care ese

[12:22] {cujo} catch you later ese

[12:22] {nemo} ez ese

[12:22] {Threei}  anyone got entry in STT?

[12:22] {cujo} i'm in WFC

[12:22] {Threei}  WFC is taking longer than I'd like

[12:22] {cujo} move stop?

[12:22] {cujo} .94?

[12:22] {Threei}  lower BB is at .96 now

[12:23] {Threei}  so maybe move to .95

[12:23] {Threei}  negligible loss

[12:23] {nemo} what's your BB setting Vad?

[12:23] {Threei}  either it works or who needs this rotten thing

[12:23] {Threei}  13 and 1.7 on intraday

[12:25] {nemo} FAZ strengthening and wfc holding

[12:26] {nemo} lunchtime trading

[12:26] {nemo} Mags...bathroom

[12:27] {Threei}  wow RIMM

[12:28] {magoo} that indicator is not constant nemo...changes day to day

[12:28] {nemo} bummer

[12:28] {magoo} its consistant for the subject day as an indicator..but somedays its up..somedays its down

[12:29] {dino} the beer indicator is more reliable

[12:29] {dino} when magoo wants one before the close, we are going down hard

[12:29] {Threei}  bands tightened on WFC

[12:29] {Threei}  move is coming

[12:29] {magoo} boy thats true

[12:30] {dino} gun to my head, green close

[12:30] {nemo} look at all the offers @.99

[12:30] {Threei}  on what?

[12:30] {nemo} was wfc

[12:30] {Threei}  doesn;'t mean much

[12:33] {Threei}  WFC = useless ugly pos

[12:33] {hawkfan4} HIG looks ready

[12:33] {magoo} GS RIMM could be huge if we spiked hard

[12:33] {dino} i was thinking "waste of f'ing cash"

[12:33] {hawkfan4} lol dino

[12:33] {Threei}  rofl

[12:34] {nemo} HIG ready for what...short?

[12:34] {Threei}  I like your version better

[12:34] {magoo} in rimm.0

[12:34] {magoo} 60

[12:35] {hawkfan4} COCO over hod vad?

[12:35] {wulff} WFC stop

[12:36] {magoo} out .75 lunch $$

[12:36] {cujo} nothing wrong with that.  you gotta eat

[12:37] {Threei}  probably hawk...

[12:38] {Threei}  I just have hard time buying breakouts in this market

[12:38] {nemo} O.K. Vad, it's after lunch...prediction please

[12:39] {wulff} did I get into WFC too early at 10?

[12:39] {Threei}  why, it triggered

[12:39] {nemo} stopped under .90

[12:39] {Threei}  why so low

[12:39] {Threei}  we trailed stop to .95

[12:40] {wulff} what was BB

[12:40] {cujo} can you have an upside down c&h?

[12:40] {Threei}  sure

[12:40] {nemo} yeah, for a short cujo

[12:40] {cujo} is WFC forming one?

[12:41] {Threei}  not much tea is going to remain in, but otherwise...

[12:41] {cujo} :)

[12:41] {nemo} tea?  tea?  vodka you mean

[12:41] {Threei}  from cup?

[12:41] {nemo} why not?

[12:41] {cujo} there is a bar around me that serves all drinks in tea cups.  Prohibition themed bar...

[12:42] {cujo} SS WFC .86

[12:42] {Threei}  200g cut glass

[12:42] {Threei}  classic

[12:42] {nemo} Huh...knew this chinese restaraunt that served very strong tea after drinking hours

[12:43] {cujo} ha ha 

[12:43] {nemo} yep...came in a stainless tea pot

[12:45] {Threei}  CNBC'S SANTELLI: THE FOREIGN EXCHANGE RUMOR MILL IS IN HIGH GEAR TODAY, ALL KINDS OF VAGUE RUMORS ARE FLYING AROUND SPECIFICALLY IN EUROPE

[12:45] {Threei}  - Notes rumors seem to be "based in Europe"

[12:45] {Threei}  SPOT GOLD RETESTS THE $1,000; HIGHEST LEVEL SINCE MAR 18TH, 2008

[12:45] {Threei}  - All-time high $1,032.40/oz on Mar 17th, 2008

[12:45] {Threei}  fern... what are they saying over there??

[12:45] {Threei}  nice short cujo

[12:46] {cujo} out WFC +.13

[12:46] {cujo} thanks

[12:46] {Threei}  see... turn C&H uoside down, and content does pour out

[12:46] {cujo} he he

[12:47] {nemo} another short if it breaks .70?

[12:47] {Threei}  after sharp bar down?

[12:48] {nemo} maybe cujo gets another cup  handle...thing'll start looking like a cow's udder

[12:49] {Threei}  ugliness reigns

[12:50] {nemo} FAS break low, short?

[12:50] {cujo} ha ha ha

[12:50] {Threei}  [12:47] {Threei} after sharp bar down?

[12:51] {nemo} that was about wfc, just asked about fas,,same answer?

[12:51] {nemo} there's two sharp bars down on wfc

[12:51] {Threei}  it just dropped from almost .40 in a straight line

[12:52] {Threei}  shorting such drop is the same as chasing sharp spike up

[12:52] {Threei}  let it bounce a bit, consolidate, form a breakdown setup

[12:53] {nemo} wfc or fas?

[12:53] {Threei}  any

[12:53] {Threei}  I am talking about situation

[12:54] {Threei}  FHFA REGULATOR: FNM AND FRE PLAN MAY NOT REMOVE EQUITY IN CASH FORM,

[12:54] {nemo} oh.  ha that triple/quadruple top on fas between 12:25 and 12:40 woul you have gone short @ .33?

[12:54] {Threei}  - Notes that the loans for GSE do not require more credit enhancement to refinance

[12:55] {nemo} so...credit unworthy just get more money? oy weh.

[12:55] {Threei}  that one is more setup-like

[12:56] {Threei}  not my favorite but at least has structure

[12:56] {Threei}  shorting .20 a few min ago - emphatically no

[12:57] {nemo} basically bounced at low

[12:58] {magoo} getting ugly out there

[12:58] {Threei}  [12:49] {Threei} ugliness reigns

[12:58] {Threei}  [12:50] {nemo} FAS break low, short?

[12:59] {nemo} yep...remember

[12:59] {dptl} it's my b-day today :)

[12:59] {buyemsellem} happy birthday

[12:59] {Threei}  really?

[12:59] {larisa} happy birthday dp :)

[12:59] {Threei}  happy Birthday dp!'

[12:59] {cujo} happy b-day

[13:00] {nemo} ditto

[13:00] {Threei}  can'

[13:00] {vint} happy birthday, dptl

[13:00] {dptl} ty:)...thinking its time to have a drink

[13:00] {Threei}  can't believe you are still not at my porch with good bottle of vodka

[13:01] {dptl} lol

[13:01] {nemo} getting uglier

[13:01] {cujo} Vad, if you ever make it to east coast will take you to best Vodka Bar in area...

[13:02] {nemo} where you dog?

[13:02] {cujo} NY

[13:02] {cujo} u?

[13:02] {nemo} boston...well Maine at the moment

[13:02] {nemo} Yankees or Mets

[13:02] {cujo} ehh, not a baseball fan

[13:03] {cujo} but i would say mets over yankees

[13:03] {nemo} cool

[13:03] {Threei}  thank you cujo

[13:03] {fernp} cover C 1.89 +.12 sloooow

[13:04] {magoo} rimm held that pull

[13:04] {nemo} we due for upleg Vad?

[13:05] {Threei}  doesn't feel this way to me

[13:05] {Threei}  rather more down

[13:05] {magoo} i live 2 hrs from nyc

[13:05] {cujo} poconos right?

[13:05] {magoo} take me..i like viodka

[13:05] {magoo} cant spell it..but can spiull it

[13:05] {cujo} let me know if you are around.  

[13:05] {_redcat} magoo, ever try grey goose Pear?

[13:06] {dino} yankees

[13:06] {Threei}  grey goose is good, just horribly overpriced

[13:06] {magoo} nope..but drink alot of vodka shots..

[13:06] {nemo} what about 'em Dino?

[13:06] {dino} grey goose at my house

[13:06] {magoo} like it chilled

[13:06] {cujo} http://www.riversidewinemerchants.com/r/products/jewel-of-russia-ultra-vodka/?utm_source=google;utm_medium=base

[13:06] {magoo} orange stoli

[13:06] {nemo} Oh geez...wish I had my shotgun...flock of ducks just landed in the yard

[13:06] {dino} most likely hit it satiurday night

[13:07] {cujo} best vodka i have ever tasted.  perfect just on ice. 

[13:07] {dino} family coming over, so shots will be had at the basement bar

[13:07] {magoo} is there a missing RAVEN with them ducks?

[13:08] {nemo} nah...they just took off...dog noticed them

[13:08] {nemo} not cujo

[13:08] {Threei}  cujo... ever tried canadian Iceberg?

[13:08] {cujo} no, you like?

[13:08] {_redcat} QQQQ going splat

[13:09] {Raven} {}

[13:09] {cujo} just looked it up.  Can you get in the states?

[13:10] {Threei}  no idea

[13:10] {Threei}  but if can, try it

[13:10] {Threei}  you'll be pleasantly surprized

[13:10] {cujo} its on the list.

[13:11] {dino} 13%+ down in s/p and dji from 2/9

[13:11] {_redcat} altoghether now...y did i cover ADBE...arrgh

[13:12] {Threei}  lol

[13:16] {magoo} 211 down

[13:17] {nemo} I hear that strong flushing sound

[13:17] {Threei}  market sure is cheering all the rescue efforts

[13:17] {wulff} anyone thinking they missed trading in 2001,no worries. we're here again

[13:17] {Threei}  FAS under 4

[13:18] {nemo} yeah they'll have to delist it soon

[13:18] {Threei}  what carnage eh

[13:18] {nemo} yeah...and it's 10 miles to the closest bottle of vodka

[13:18] {Threei}  now... you may consider me overly conservative these days, but,

[13:19] {Threei}  we are finishing this week with EVERY day whinning

[13:19] {nemo} whining or winning

[13:19] {cujo} did you mean winning or whining?

[13:19] {cujo} ha ha

[13:19] {Threei}  guess

[13:19] {Threei}  lol

[13:19] {nemo} Magoo whines

[13:19] {Threei}  winning

[13:19] {cujo} great minds nemo

[13:19] {nemo} Cujo, never been accused of that

[13:20] {Threei}  rabid dog and lost fish

[13:20] {cujo} first time for everything.

[13:20] {nemo} A couple of sandwiches short of a picnic

[13:20] {nemo} No, I'm the guy in with the cyclops

[13:20] {Threei}  that's too far in history

[13:20] {Threei}  lost fish is what new generations know

[13:20] {nemo} what's your point?

[13:21] {nemo} I'm old

[13:21] {nemo} same age as you you geiser

[13:21] {nemo} geezer

[13:21] {nemo} guyzer

[13:21] {nemo} whatever

[13:21] {Threei}  ok, let's settle on the mad captain of a submarine

[13:21] {magoo} im only up 3 of 4

[13:22] {nemo} works for me...huh...we're negotiating on the meaning of MY nick?  Somethin' screwy about that...well it's your ballfield

[13:22] {nemo} .750 magoo...cool

[13:23] {magoo} the losing day was when i was trading vads p[ix {as i run from slap fest a comuith}

[13:23] {nemo} WHAT?

[13:24] {Threei}  I won't even slap you

06[13:24] * nemo slaps magoo around a bit with a large Mavis Beacon teaches typing

[13:24] {Threei}  I will leave you to live with your ridiculousness

[13:24] {Threei}  and get punished by your conscience

[13:24] {nemo} he has one?

[13:24] {Threei}  ummm... that's a very questionable concept

[13:25] {Threei}  I gotta rethink that

[13:25] {nemo} I thought he was a zombie

[13:25] {Threei}  ok, I rethought that

[13:25] {nemo} and to think... he bred

[13:25] {magoo} yes

[13:25] {magoo} here it comes

06[13:25] * Threei slaps magoo around a bit with a large plate of bacon of which magoo doesn't get any single piece

[13:28] {nemo} some poor bastard put in a market order on FAS oops

[13:29] {cujo} i'm sure they will bust that trade...  but does look funny... 

[13:29] {nemo} bet his sphincter tightened on that one

[13:30] {cujo} yeah

[13:30] {Threei}  I missed that

[13:30] {Threei}  what was the price?

[13:30] {nemo} spiked t 4.50

[13:31] {larisa} late trade or may be it is rich one who shorted at 60 , so he does not care :)

[13:32] {nemo} I would NEVER have thought of that

[13:32] {Threei}  what was the size?

[13:32] {cujo} i don't have t&s :(

[13:32] {Threei}  wow

[13:32] {nemo} Well volume in that minute spiked to 5 million

[13:33] {Threei}  you do have charts and buy/sell buttons though, right?

[13:33] {nemo} Mmmmmhhh FAS forming wedge....

[13:33] {cujo} yes

[13:33] {Threei}  whew

[13:33] {nemo} Vad...be nice

[13:33] {nemo} cujo isn't Mags

[13:34] {Threei}  well... being nice is way too unnatural for me

[13:34] {Threei}  sorry

[13:34] {cujo} its ok

[13:34] {cujo} think skin here... 

[13:34] {Threei}  and I say it in a nicest possible way

[13:34] {cujo} thick

[13:36] {cujo} Any thoughts on HIG 6 break?

[13:37] {Threei}  I hate the very idea of going long for now

[13:37] {cujo} yeah

[13:38] {Threei}  anyone took that 6 breakdown btw?

[13:38] {Threei}  gave nice and easy 20 cents

[13:42] {magoo} rimm holds vad

[13:43] {nemo} paper covers rock

[13:44] {cujo} you get into that RIMM Mags?

[13:45] {magoo} not yet

[13:45] {magoo} if mkt could majke move

[13:45] {magoo} like it

[13:47] {larisa} lol, there are doubts if stocks will ever go up again :)

[13:48] {Threei}  no doubts

[13:48] {Threei}  they never will

[13:48] {Threei}  ever

[13:49] {larisa} I am not crying too. girls never cry.

[13:50] {larisa} but i miss good up day

[13:50] {Threei}  ok... I promise one

[13:50] {larisa} when ?

[13:51] {Threei}  can't tell... I am still in shock after

[13:51] {Threei}  [13:05] {magoo} take me..i like viodka

[13:51] {Threei}  that sounded uncarachteristically girly

[13:52] {magoo} news 

[13:52] {magoo} on cnbc

[13:52] {Threei}  ?

[13:53] {magoo} breaking news

[13:53] {Threei}  what's with BAC?

[13:54] {Threei}  what was the news?

[13:54] {hawkfan4} no idea

[13:54] {Threei}  magoo?

[13:54] {larisa} WH briefing : no need to nationalize the bank that is profitable :)

[13:55] {Threei}  no really?

[13:55] {Threei}  wow

[13:56] {larisa} it was daily briefing, he just answered the question

[13:57] {Threei}  WHITE HOUSE: REAFFIRMS STRONG BELIEF THAT A PRIVATELY HELD BANKING SECTOR IS THE RIGHT WAY TO GO

[13:57] {larisa} it shows how hard we are going to spike if REAL news come

[14:01] {Threei}  WFC

[14:01] {Threei}  trying to follow

[14:04] {Threei}  how's this for irony:

[14:04] {Threei}  GOOG

[14:04] {Threei}  CITIGROUP LOWERING ESTIMATES

[14:05] {hawkfan4} GOOG "i'm going to buy C and fire that analyst"

[14:05] {Threei}  {GOOG} get over $2 before you estimate anyone

[14:08] {Threei}  WFC is serious

[14:08] {Threei}  pullback into .50 for a scalp

[14:08] {nemo} look at hig

[14:11] {Threei}  by WH, Mr Santelli doesn't know what he is talking about

[14:15] {dino}   i think he's more right than most

[14:15] {dino} they must take the pain

[14:16] {Threei}  sheesh

[14:16] {nemo} no manure

[14:16] {cujo} FAS and FAZ

[14:16] {nemo} hig

[14:16] {cujo} hig

[14:16] {nemo} cujo!

[14:16] {cujo} ha ha

[14:17] {nemo} FAS coming up on resistance

[14:18] {dino} ppt

[14:18] {cujo} what is PPT?

[14:18] {nemo} Plunge Protection Team

[14:18] {dino} yes

[14:19] {cujo} heading out all.  Best of luck on the rest of the day

[14:20] {Threei}  US TREASURY TO RELEASE ADDITIONAL RETAILS ON BANK RESCUE PLAN NEXT WEEK - CNBC

[14:20] {nemo} Great Short opportunity!!!

[14:21] {Threei}  lol

[14:22] {hawkfan4} additional RETAILS? whoever typed that must be a trader

[14:22] {Threei}  you have no idea hawk

[14:22] {Threei}  this line initially had next YEAR

[14:22] {Threei}  changed to week in a few seconds

[14:23] {larisa} rofl

[14:23] {Threei}  I stared at it not being able to believe my eyes, lol

[14:23] {hawkfan4} lol

[14:23] {Threei}  jeez

[14:23] {Threei}  look at these spikes

[14:24] {nemo} FAS broke resistance

[14:24] {Threei}  I was thinking, to alert about WFC pullback entry near 10 or 9.80

[14:24] {Threei}  next second it was 10.35

[14:25] {nemo} htf do you play this?

[14:25] {dino} out esi 116.94, +3.70

[14:25] {Threei}  that's how

[14:26] {larisa} lol

[14:26] {Threei}  lol

[14:26] {Threei}  wtg dino

[14:26] {larisa} gj

[14:26] {dino} lucky

[14:26] {magoo} vad im crying..had GS long 80...right before pop..was exit out there 80.45 ..gets hit and goes 3+

[14:26] {nemo} so FAS to close gap from yesterday and go to 5.60?

[14:26] {Threei}  WHITE HOUSE: IAEA REPORT ON IRAN SHOWS IRAN HAS CONTINUED TO SHUN OBLIGATIONS ON NUCLEAR PROGRAM

[14:26] {dino} magoo, i gave you esi at 115 break too

[14:27] {Threei}  great... not only magoo posts {magoo} take me..i like viodka... he is crying too

[14:27] {magoo} oh u did.,..weheres my $$

[14:27] {dino} hmmmm, thinking instead of yelling them out i should walk over and slap the back of his head

[14:29] {Threei}  WFC

[14:29] {Threei}  look for entry near 10.10

[14:30] {Threei}  got .08

[14:30] {Threei}  stop under 10

[14:31] {Threei}  half out.16

[14:31] {magoo} out here .21

[14:32] {magoo} ty bossasauras-ass

[14:32] {Threei}  out in full .30

[14:32] {dino} grrr apol hits 80, i'm out at 78.60

[14:32] {nemo} ooohhhhhh

[14:33] {Threei}  was it a beauty or was it a beauty

[14:33] {magoo} u are a beauty allright lol

[14:33] {dawg} great call Vad ty in .04 out .33

[14:33] {Threei}  dawg :)

[14:33] {buyemsellem} yes nice call

[14:33] {nemo} throwin' stones from a glass house mags

[14:34] {Onix} ty Vad, got some in WFC :)

[14:34] {Threei}  mags... you seeded enough doubts in me today, lol

[14:34] {Threei}  onix :)

[14:34] {magoo} ok..ill be good

[14:34] {magoo} start teasing dino some more

[14:35] {Threei}  BAC straight down

[14:36] {Threei}  someone said something somewhere again I suppose

[14:36] {nemo} Dodd

[14:36] {Threei}  the only way to play these things is to catch a technical move between two speeches, lol

[14:37] {Threei}  and hope it resolves faster than the next speech starts

[14:37] {dino} i just don't play them, too random, too fast

[14:38] {Threei}  I am still giggling over that "treasury to release details next year"

[14:38] {Threei}  HUH?

[14:38] {Threei}  you guys think you can say this without sending market under zero?

[14:38] {dino} they still won't get it done in time

[14:39] {Threei}  some of those moves are readable dino... not all

[14:39] {Threei}  but that's what I am trying to do when such madness hits

[14:39] {Threei}  find those that are possible to read with better odds

[14:40] {Threei}  they do have patterns to them

[14:40] {Threei}  major being,

[14:40] {Threei}  when they pull back

[14:40] {Threei}  they tend to come into natural support,

[14:40] {Threei}  pause,

[14:40] {Threei}  bounce just a tad,

[14:40] {Threei}  then drop again seriously overstretching the move

[14:41] {Threei}  shaking out premature buyers hard

[14:41] {Threei}  and then bounce for real.

[14:41] {dino} not to me vad, not to me

[14:41] {Threei}  This was the case with this WFC move

[14:41] {Threei}  natural support was around .25

[14:41] {Threei}  and it gesitated there,

[14:41] {dino} i am a simple trader

[14:41] {Threei}  then dfropped under .10

[14:42] {Threei}  as it started downticking toward .20 and under, I alerted about .10 being entry zone

[14:43] {magoo} dino left office vad

[14:44] {Threei}  what did you do to him?

[14:45] {magoo} i sent him for more beer...it just keeps disappearing from fridge

[14:45] {dino} back w/mich light

[14:45] {nemo} If FAS breaks .90 long?

[14:46] {Threei}  no idea

[14:46] {Threei}  cxan be double top just as easy

[14:46] {dino} but still thinking about the grey goose on ice, i wonder if tanguary' tastes just as good, that only vodka at the office

[14:47] {dino} s/p wants to fill that opening gap

[14:50] {dino} skf nice range

[14:50] {Threei}  so, who is scared of holding over the weekend more, shorts or longs

[14:51] {nemo} FAS going to close the range...wow

[14:52] {dino} end of month, maybe markups next week, altho did not happen in jan.

[14:52] {Threei}  larisa... you asked for an up day

[14:52] {dino} s/p gap filled.

[14:52] {larisa} this one dino gave me, get your own :)

[14:52] {dino} my close green call looking better

[14:53] {dino} thank you larrrrisssssa

[14:53] {wulff} +1.15 POT half

[14:53] {dino} gj

[14:55] {dino} uso green

[14:55] {wulff} wow wfc

[14:57] {Threei}  BAC, will get interested around .50

[15:02] {Threei}  missed

[15:03] {nemo} yea didn't get through those 14:27 spikes

[15:03] {wulff} your mojo is off

[15:04] {Threei}  but wulff... my trout is on

[15:04] {Threei}  hmmm

[15:04] {Threei}  US TREASURY SPOKESPERSON: CANNOT IMMEDIATELY COMMENT ON ON WHETHER THERE WILL ADDITIONAL BANKING DETAILS NEXT WEEK

[15:05] {Threei}  it's still next year I guess

[15:05] {dino} then why say this at all

[15:05] {wulff} must consult the cat

[15:05] {Threei}  look CNN

[15:07] {Threei}  Gibbs on Santelli was the piece I meant

[15:11] {Threei}  CNBC'S LIESMAN: AFFIRMS THAT US TREASURY WILL RELEASE SOME DETAILS REGARDING THE BANK PLAN NEXT WEEK; NOTES IN LINE WITH PRIOR MARKET EXPECTATIONS FROM THE US TREASURY

[15:11] {Threei}  - Liesman notes that it is unclear whether this is truly ahead of expecations but notes it does match the orginal time frame of 'within weeks' issued by US Treasury officials at the G7 meeting{

[15:12] {Threei}  wtf

[15:12] {nemo} gotta fill time on Friday

[15:13] {dino} 3:40 time area should be interesting

[15:13] {Threei}  now the drama is not about content but about next week or not?

[15:14] {Threei}  I can't wait till market starts moving up and down on commentators' arguing about color of the paper report will be printed on

[15:14] {Threei}  CNBC: details on the plan will be on white paper

[15:14] {Threei}  Bloomberg: no, yellowish

[15:14] {Threei}  Reuters: greyihs

[15:14] {nemo} chartreuse

[15:15] {wulff} makes me crazy to wait for a stock to move with a trailing stop

[15:15] {Onix} :D

[15:15] {nemo} yeah, it must SUCK making money

[15:16] {wulff} totally

[15:16] {cujo} On iphone. Miss anything?

[15:17] {buyemsellem} market go up. market go down.

[15:17] {wulff} do-si-do

[15:17] {nemo} Somebody else going for Vad's title, this headline on RealMoney: Gold Is Poised for a Major Technical Breakout

[15:17] {dino} what about th inviible ink

[15:18] {buyemsellem} doing some trading on your phone?

[15:19] {cujo} Nah, just seeing if u all made millions while I was out. 

[15:19] {dino} on my rotary phone, yes

[15:19] {cujo} C ya

[15:19] {dino} c'mon, dji, go green

[15:19] {dino} later cujo

[15:24] {magoo} vad we in anything?

[15:24] {nemo} we're out of our minds

[15:24] {Threei}  in deep doodoo if you mean economy... in deep coma if you mean us personally

[15:25] {nemo} Almost feels like the market wants to call it a week

[15:26] {dino} where are my short coverers?

[15:27] {Threei}  not yet nemo

[15:27] {Threei}  I still have to get my revenge for this:

[15:27] {Threei}  [14:52] {Threei} larisa... you asked for an up day

[15:27] {Threei}  [14:52] {dino} s/p gap filled.

[15:27] {Threei}  [14:52] {larisa} this one dino gave me, get your own :)

[15:27] {Threei}  and my revenge to her will be closing markets in red

[15:27] {larisa} lol

[15:27] {larisa} not nice

[15:27] {Threei}  triple digits

[15:27] {Threei}  nope

[15:27] {larisa} dino has a gun..

[15:28] {dino} not happening

[15:28] {nemo} there you go

[15:28] {Threei}  but I told you... I don't even exchange postcards on Christmas with nice

[15:28] {Threei}  here are triple digits

[15:29] {dino} we are not closed yet 3i, i shall go down w/the ship if necessary

[15:29] {Threei}  ugh, don't

[15:29] {Threei}  let it sink without you on board

[15:29] {Threei}  what are you, captain of Titanic

[15:29] {nemo} why don't you rearrange the deck chairs

[15:29] {dino} well, i'm bring larisa along, so all is not lost

[15:30] {Threei}  now, THAT'S not nice

[15:30] {Threei}  see larisa... I at least don't try to kill you

[15:30] {nemo} they'll die together, how rom....STUPID

[15:31] {Threei}  my thinking is dino... we have enough of musicians in congfress and wh to play while this ship sinks

[15:31] {dino} smiling tho

[15:36] {dino} c'mon

[15:37] {dino} 3:37

[15:38] {Threei}  RIMM, pullback into 39 area for bounce

[15:40] {dino} itt sm l .80

[15:42] {Threei}  missed

[15:42] {fernp} have a nice weekend everybody

[15:42] {fernp} see u on monday

[15:42] {Threei}  take care fern, good week for you?

[15:43] {fernp} very good

[15:43] {Threei}  :)

[15:43] {fernp} :)

[15:46] {nemo} FAS and SPY are carbon copies

[15:47] {dptl} have a good weekend all :)

[15:47] {Threei}  take care dp, happy birthday!

[15:47] {nemo} P&Q

[15:47] {dptl} ty:)

[15:48] {dino} happy bday dp

[15:49] {dptl} ty:0

[15:49] {dino} see ya fern

[15:50] {Threei}  REP. FRANK: NATIONALIZATION IS SOMETHING TO BE AVOIDED AND DOEST SEE IT AS LIKELY RIGHT NOW - TV INTERVIEW

[15:50] {Threei}  strange

[15:50] {Threei}  from this guy I'd expect "sure, we will take them and fix them"

[15:51] {dino} "right now"

[15:51] {Threei}  "cause we already fixed GSEs, ya know"

[15:52] {magoo} they all should zip mouths here

[15:53] {Threei}  not an option

[15:53] {Threei}  careers are being made and destroyed at times like these

[15:54] {dino} out itt .10, +.30

[15:54] {patience} no shopping spree yet, just waiting

[15:54] {patience} have a good weeked guys

[15:54] {Threei}  patience :)

[15:54] {dino} u2 patience

[15:55] {Threei}  BAC CEO: BANK DOES NOT NEED FURTHER ASSISTANCE, CAN SURVIVE DOWNTURN ON ITS OWN; TRADING BUSINESS HAS 'VASTLY IMPROVED' IN CURRENT QUARTER - INTERNAL MEMO

[15:55] {Threei}  - Remarks that the corporate debt market indicating signs of 'thawing

[15:55] {vint} bye guys, see u on monday

[15:55] {Threei}  take care vint

[15:55] {dino} l8r vin

[15:56] {nemo} P&Q

[15:56] {larisa} Pint and Quart ?

[15:56] {hawkfan4} bye all

[15:57] {nemo} Peace & Quiet

[15:57] {larisa} :)

[15:57] {nemo} the older I get the more of it I want

[15:57] {larisa} when you have it, it means you are dead.. 

[15:58] {Threei}  BAC a lot of buyers

[15:59] {dino} out cpla .80, +.20

[16:00] {Threei}  okay guys

[16:00] {Threei}  great week

[16:00] {Threei}  no losing days

[16:00] {nemo} Yeah...for the most part they called it a week

[16:00] {Threei}  while market is hurting badly

[16:00] {Threei}  thsank you all

[16:01] {Threei}  have a great weekend

[16:01] {dino} thirsty...........

[16:01] {nemo} see ya'

[16:01] {Threei}  see you on monday

[16:01] {larisa} later :)

[16:01] {magoo} ty vad.....everyone

[16:01] {dino} take care all

[16:01] {dino} thx for ideas

[16:01] {_redcat}  nice being with u all

[16:01] {Threei}  you know where to find us redcat

[16:02] {magoo} take car redcat

[16:02] {Threei}  magoo even willing to give you his car

[16:02] {magoo} oh HE HE

[16:02] {dino} good to have you here redcat

[16:02] {_redcat} most generous of u magoo....should be able to make my own payments with ur guidance

[16:05] {dino} 4% over 30 or 40 years seems fair

[16:10] {dino} gn all