With market being in such misery, can't complain about 5 winning calls out of 7. CAT short becomes almost permanent fixture of each trading session; RIMM played nicely on both sides, long and short; AAPL long and even CAT long for a scalp polished things off. 

Session Time: Mon Mar 02 00:00:01 2009

[08:32] {dino} gm all

[08:32] {nemo} Happy Monday!

[08:32] {nemo} Yeah, right.

[08:33] {Threei}  Good morning

[08:33] {nemo} you too

[08:33] {Threei}  just youro normal garden variety end of the world

[08:33] {nemo} New world starts tomorrow...can't wait!

[08:34] {nemo} Actually, the futures look a lot better than they did last night

[08:46] {Threei}  US OFFICIAL: PURPOSE OF AID TO AIG IS TO STABILIZE AND REDUCE THE SIZE OF THE COMPANY; AIG STILL POSES A SYSTEMIC RISK

[08:46] {Threei}  - Notes that taxpayers' exposure to AIG is now $163B, will respond with new plans as the facts on the ground change.

[08:46] {Threei}  - There are "few strings" attached on how AIG should use the $30B in fresh funding

[08:47] {Threei}  now, this is real way out of the mess:

[08:47] {Threei}  US SAVINGS RATE JUMPED 5% TO ITS HIGHEST LEVEL SINCE 1995

[08:47] {Threei}  - Savings jumped to an annual rate of $545.5B, the highest level since monthly records began in 1959.

[08:47] {Threei}  - The savings rate surged 5% in January, the biggest advance since March 1995, as households uncertain about the economy prefer to conserve their cash.

[08:48] {cosmo} long live the consumer...

[08:49] {Threei}  *JAN PERSONAL INCOME: 0.4% V -0.2%E; PERSONAL SPENDING: 0.6% V 0.4%E

[08:49] {Threei}  **First rise in spending in seven months

[08:49] {Threei}  Jan personal saving rate rose by 5% largest increase since 1995

[08:50] {Threei}  (RU) REPORTEDLY RUSSIA HAS PROPOSED A JOINT IRANIAN-RUSSIAN OIL EXCHANGE

[08:50] {Threei}  - Iran may sell some oil on St. Peterburg exchange

[08:51] {Threei}  BALTIC DRY BULK INDEX +1.4%, A SECOND STRAIGHT ADVANCE

[08:56] {cosmo} ATPG:  ....# ATP Oil & Gas Earnings Call scheduled for 4:00 pm ET todayCCBN(Mon 7:35am)

[08:57] {cosmo} GE Energy Financial Services partners with ATPAP(Fri, Feb 27

[08:57] {dino} what is funny about the savings 3i, is that stocks are not counted. so realistically, as stocks dropped 50%, real estate down big (most americans biggest asset) these "savers" are worth much less (pensions, mutual funds, stocks, real estate). it is the same on the other side when savings go down, stocks and real estate are not counted. so, just careful for what you wish, as "net worth" is much lower

[08:58] {cosmo} yea.... 50% no big deal anymore...

[08:59] {dino} well, it's a gov't" statistic, they leave out real estate and stocks

[08:59] {Threei}  well, if they leave it out on both sides, it's still indicating something

[09:00] {cosmo} deile?

[09:00] {cosmo} denile

[09:00] {Threei}  third time should do it :)

[09:00] {dino} i think its a bogus indicator in either case. they want bank savings, not investment

[09:00] {cosmo} denial?

[09:00] {Threei}  there!

[09:00] {dino} oh, the river in egypt

[09:01] {cosmo} what river...

[09:01] {dino} turnaround tuesday coming again imo

[09:01] {dino} de nile

[09:02] {Threei}  we have Terrific Tim speaking this week, right?

[09:07] {Threei}  Tu 10 am, testifying before House Committee

[09:07] {Threei}  Thu

[09:09] {geo} gm all

[09:09] {Threei}  isn't it ironic that speaking of bounce or watever, many still use term "Obama rally"

[09:09] {Threei}  geo :)

[09:10] {buyemsellem} gm

[09:10] {Threei}  since he took office market did nothing but go down

[09:10] {Threei}  buyem :)

[09:10] {Threei}  so, eithere it is obama rally,

[09:10] {Threei}  or real rally will be more of "despite" rather than "thanks to"

[09:11] {cujo} morning. 

[09:12] {Threei}  cujo :)

[09:12] {nemo} Maybe it's the Obama anti-rally

[09:13] {nemo} mornin' mags, cujo

[09:14] {cosmo} or the obama QID 'ally

[09:14] {magoo} kjaslkiaskhcakusga

[09:14] {fernp} Hello everybody

[09:14] {Threei}  very eloquent

[09:14] {Threei}  magoo, fern :)

[09:14] {magoo} morning playbk vad?running late here

[09:14] {nemo} I sprained my tongue trying to say that

[09:15] {Threei}  nothing constructive mags

[09:15] {magoo} last mon went basically straight down allday..ended like 240 down

[09:16] {dptl} good morning all

[09:16] {Threei}  dp :)

[09:18] {Threei}  as tempting as it is to use last Monday as indicator for this one, it's not really valid one :)

[09:18] {magoo} i understand

[09:19] {Threei}  foreign market performed terribly

[09:19] {magoo} art on cnbc sad..worrying about trap door crash here

[09:20] {cosmo} hmmmm....could be turn around monday....

[09:20] {Threei}  trap door crash?

[09:20] {nemo} bottom falls out

[09:20] {cosmo} it did...

[09:20] {nemo} market dysentary

[09:20] {magoo} yeah...his words...lose last 1980 support level and trap door opens

[09:21] {magoo} crash

[09:21] {Threei}  GM CHAIRMAN LUTZ: THIS IS THE WORST DEMAND CYCLE SINCE WORLD WAR II, CALLS ON GOVERNMENTS WORLDWIDE TO ACT - INTERVIEW

[09:21] {cujo} -300

[09:21] {Threei}  act how? buy GM vehicles?

[09:22] {magoo} we should keep eye on qid vad

[09:22] {Threei}  market does look crashing today... the only concern is, this is what everyone and their grandmother think

[09:25] {cosmo} ICTG

[09:26] {cosmo} ICT Group: Aegis proposes cash acquisition of ICT Group at $8.00/shareBriefing.com(Mon 8:54am)

[09:26] {cosmo} ictg still needs 7 ....

[09:27] {Threei}  how about poor soul who bought 13.55?

[09:27] {Threei}  can't read?

[09:27] {Threei}  let's sit out the opening

[09:28] {Threei}  Mondays are often start out in hangover

[09:28] {Threei}  starting

[09:28] {nemo} mmmmhhh...that's the way most mornings start

[09:28] {geo} fred mac ceo resigns

[09:29] {Onix} gm all

[09:29] {Threei}  onix :)

[09:29] {vint} good morning all

[09:29] {Threei}  vint :)

[09:30] {geo} gow opens below 7k

[09:30] {geo} heh dow

[09:30] {Threei}  both

[09:30] {Threei}  watching CAT

[09:31] {Threei}  would like to see some consolidation, then break of 24 for short

[09:32] {Threei}  not bouncing much

[09:32] {Threei}  24.15 so far resistance to stay under

[09:32] {Threei} Short Setup: CAT  24 break if stays under 24.15

[09:33] {magoo} ion

[09:33] {nemo} in

[09:33] {cujo} in 

[09:33] {Threei}  under 1:1 cover half

[09:33] {magoo} that too

[09:33] {Threei}  .82 half out

[09:34] {cujo} 1/2 out .85

[09:34] {Threei}  stop to 24.05

[09:34] {Threei}  looking to cover 1/4 more closer to .50 - .60

[09:35] {Threei}  and see if we can get new 52 week lows on the last portion

[09:35] {magoo} out .73 NICE vad.

[09:35] {magoo} easy button

[09:35] {dino} gj

[09:35] {Threei}  welcome

[09:36] {Threei}  what's with jumoing

[09:36] {Threei}  jumping

[09:36] {cujo} good call

[09:36] {geo} out

[09:36] {Threei}  out 1/4 more .72

[09:37] {Threei}  missed that dive to .62

[09:37] {nemo} out .70

[09:38] {Threei}  okay... now we are talking

[09:38] {Threei}  new low

[09:38] {cujo} yeah i got stopped out on this one... 

[09:38] {cujo} but still made a little cash

[09:38] {ese} morning...gota stop sleeping in 

[09:38] {Threei}  ese :)

[09:39] {Threei}  do you use hard stops cujo?

[09:39] {cujo} yeah had a stop floating out there.

[09:39] {Threei}  grrr

[09:39] {Threei}  hate those

[09:39] {dptl} ty cat...+.24 +.41

[09:39] {Threei}  no way I'd exit into such sharp spike

[09:39] {Threei}  dp :)

[09:40] {magoo} cat might be good reload vad

[09:40] {Onix} ty Vad, got some in CAT

[09:40] {Threei}  :)

[09:41] {cosmo} STLD

[09:41] {Threei}  07:09am [STLD] Morgan Stanley Raised STLD to Overweight from Equal Weight, price target: $15

[09:42] {magoo} RIMM vad..bouncer?

[09:42] {Threei}  RIMM

[09:42] {Threei}  lol mags

[09:43] {magoo} in .86

[09:43] {Threei}  stop under .70

[09:44] {magoo} out here .23

[09:44] {magoo} TY 

[09:44] {cujo} nice trade mags

[09:44] {magoo} may have more but scalpin

[09:45] {dino} gj

[09:45] {magoo} gj=??

[09:46] {magoo} no prints on it

[09:47] {magoo} tough crowd..was a joke

[09:47] {cujo} in aapl .21 stop .91

[09:47] {dino} good job

[09:48] {cujo} out .52

[09:49] {Threei} Long Setup:  RIMM  .12 break half lot

[09:49] {Threei}  stop under .95

[09:49] {dino} pins and needles

[09:49] {nemo} too fast

[09:50] {geo} missed

[09:51] {Threei}  anyone got it, feel free to exit here

[09:51] {cujo} thanks

[09:51] {cujo} got a piece

[09:52] {Threei}  looking at CAT again, not much of a bounce

[09:52] {nemo} any dead cat jokes in there?

[09:52] {buyemsellem} or bouncing cat jokes

[09:52] {Threei}  don't see a clean setup yet, but keeping half eye on it

[09:53] {nemo} VW profit beats estimates

[09:53] {nemo} you've got three!

[09:53] {Threei}  it gave about 40 cents on a first setup, and looks very wek still

[09:54] {Threei}  weak too

[09:54] {nemo} If yo get a chance, Why does it look weak?

[09:54] {Threei}  ideall, for a second short on it we want to see it staying about here while market shows strength

[09:54] {Threei}  then breaking down with market reversal

[09:54] {nemo} ty

[09:55] {Threei}  because it stays close to low while market upticks

[09:55] {ese} who is VW vad

[09:55] {Threei}  DJI moved 50 points up

[09:55] {Threei}  Volkswagon?

[09:56] {nemo} yes

[09:56] {nemo} Net income rose 15 percent in 2008 to 4.75 billion euros ($6 billion), or 11.92 euros per basic ordinary share, from 4.12 billion euros, or 10.43 euros, the Wolfsburg, Germany-based carmaker said in a statement today. Revenue rose 4.5 percent to 113.8 billion euros. 

[09:57] {geo} in cat

[09:58] {cujo} ditto geo

[09:59] {geo} target vad?

[09:59] {Threei}  dropped into support a little too sharp for my taste guys... cover half to protect yourself from sudden snapback

[09:59] {cujo} got ya

[09:59] {geo} roger

[10:00] {Threei}  target is, ummm... with any market help, it won't even hold 23

[10:00] {geo} out

[10:00] {Threei}  *JAN CONSTRUCTION SPENDING M/M: -3.3% V -1.5%E

[10:00] {Threei}  *FEB ISM MANUFACTURING: 35.8 V 33.8E; PRICES PAID: 29 V 33.5E

[10:01] {Threei}  trail stop to above .50 for the balance

[10:02] {geo} sigh

[10:02] {Threei}  ?

[10:02] {geo} scalper regret

[10:02] {geo} all out in 30s

[10:02] {cujo} out .32, only had a small lot so couldn't partial out. 

[10:03] {geo} hehe cujo same here

[10:03] {cujo} :)

[10:03] {dino} rimm sm l .51

[10:03] {Threei}  if you intend to scalp, why ask me about target... and if you asked and got answer "under 23", why cover in full :)

[10:03] {geo} didnt have vad's weight bearing down on it so bailed

[10:04] {geo} (his 20k shares)

[10:04] {geo} wow cat

06[10:04] * geo bows to vad

[10:06] {ese} dino you have an opinion on MICC

[10:06] {Threei}  under 23

[10:06] {geo} ok the world going to 0

[10:06] {Threei}  of course it does

[10:07] {nemo} trap door is opening

[10:08] {geo} damn another day of going to work and having to deal with the 401k whiners

[10:08] {nemo} huh?

[10:08] {geo} lol

[10:09] {geo} have guys who complain every time market goes down

[10:09] {nemo} ohhhhhhhh

[10:09] {geo} i tell em i only go long

[10:09] {nemo} tell them don't worry...world is coming to an end anyway

[10:09] {geo} vad, cat basic weakness or news?

[10:10] {geo} V gettnig pounded too

[10:10] {Threei}  no news

[10:10] {Threei}  this is our short candidate on daily basis ever since it broke 30

[10:10] {geo} nice...... 

[10:10] {Threei}  original idea was:

[10:11] {Threei}  it was hyped by prez as a company benefitting from stimulus package, ready to start rehiring etc,

[10:11] {Threei}  and after simulus passing, it broke down anyway

[10:11] {Threei}  so, price-information divergence...

[10:11] {Threei}  have a look at it

[10:12] {dino}  micc, dk

[10:12] {geo} i thought most of their money is made in helping outsource stuff to china by building their factories

[10:12] {geo} and thats dead

[10:12] {geo} barely a few up days on daily

[10:13] {geo} i guess i should have been reading logs :(   {----geo lazy

[10:13] {nemo} dino, where was your stop on RIMM?

[10:13] {dino} micc, i like for bounce if market does

[10:14] {dino} wow 6890s

[10:15] {Threei}  you are not really surprized dino, are you

[10:15] {dino} rimm hard stop is .09 fwiw

[10:15] {dino} stopped

[10:15] {ese} L cedc .25 1/2

[10:16] {dino} nothing surprises me anymore

[10:16] {Threei}  we have normal end of the world day

[10:16] {Threei}  notice:

[10:16] {nemo} think it's too early to start drinking?

[10:16] {Threei}  both shorts on CAT were not scalps, while RIMM long gave scalping profit only

[10:16] {Threei}  tells you something?

[10:17] {nemo} yeah, kitchen sink day

[10:18] {cujo} l ED .01

[10:18] {Threei}  .85 srtop cujo?

[10:18] {nemo} the Q's aren't ready to test that 27.10 level

[10:18] {cujo} yes

[10:18] {cujo} have it at .83

[10:18] {cujo} small lot

[10:19] {ese} L  cbst .54 1/2

[10:20] {ese} eeeeeee.........chased it.......probably shouldn't have done that

[10:20] {geo} thanks for cedc ese

[10:20] {geo} got .1

[10:21] {ese} i'm gonna hang just a little longer and see what happens geo

[10:21] {Threei} Long Setup:  APPL  .80 break half lot

[10:22] {Threei}  stop under .65

[10:23] {Threei}  1:1

[10:23] {Threei}  and over

[10:23] {Threei}  out in full

[10:23] {Threei}  90.09

[10:23] {geo} nice vad

[10:23] {geo} all out .08

[10:23] {geo} TY

[10:23] {Threei}  taking esiest money on a long side for nowe, don't want to oversit them

[10:24] {buyemsellem} nice, thank you

[10:24] {Threei}  :0

[10:24] {cujo} ditto

[10:24] {dptl} +.17 aapl ty

[10:24] {Threei}  sheesh, what's with typing

[10:24] {Threei}  just when I think my typing ccan't be any worse

[10:24] {Threei}  it hits new low

[10:24] {Threei}  (just like market)

[10:25] {nemo} well, on the bright side...it can only get better

[10:25] {Threei}  that's what I thought, just before it got worse

[10:25] {nemo} Look...I'm trying to be an optimist for a couple of minutes...sheesh

[10:25] {Onix} ty Vad, grabbed some in AApl

[10:25] {cujo} ED just closed gap

[10:26] {Threei}  onix :)

[10:26] {Threei}  sorry nemo... no optimism allowed

[10:26] {Threei}  nor pessimisim

[10:26] {nemo} neutral observations

[10:26] {geo} CMI being killed too

[10:26] {Threei}  :)

[10:26] {Threei}  heh

[10:26] {Threei}  AIG

[10:26] {Threei}  CEO LIDDY: SITUATION IS DEPENDENT UPON WHAT OCCURS IN CAPITAL MARKETS IN SHORT TERM, WHETHER EQUITY CAN SUPPORT DEBT, CANNOT SAY 100% WHETHER WILL COME BACK TO US GOVT AGAIN - CNBC COMMENTS

[10:27] {magoo} out aapl

[10:27] {magoo} .09

[10:27] {magoo} TY vad

[10:27] {ese} out .cedc .60 

[10:27] {ese} uncomfororable with it

[10:27] {Threei}  welcome mags

[10:27] {ese} +.-6

[10:27] {Threei}  4 for 4 so far

[10:27] {ese} .06

[10:27] {dino} vz sm l .00

[10:28] {Threei}  or, 3 1/2 for 3 1/2, last CAT short was rather idea than a firm call

[10:28] {cujo} ED out 1:1

[10:28] {ese} sory out CBST not cedc

[10:28] {Threei}  good trading this morning guys

[10:28] {ese} too many c's

[10:29] {Onix} yes, thanks to you there Vad :D

[10:29] {Threei}  well, I refered to those trades that folks took without me

[10:29] {Threei}  but I appreciate the sentiment nonetheless {G}

[10:29] {geo} rumor people selling gold to meet margin calls today

[10:29] {Onix} :/

[10:30] {Threei}  I don't think I've ever seen a trading vehicle so rich in rumors and speculations department as gold

[10:30] {geo} :)

[10:31] {cujo} the whole inflation adjusted value thing always pops up sooner or later with gold..

[10:31] {Threei}  endless "chinese are buying gold, IMF is dumping gold, pjilippines are buying due to marriage season" etc

[10:31] {ese} out CEDC also .31 =}06

[10:31] {Threei}  last one is one favorite :)

[10:31] {buyemsellem} which is interesting because you don't have things like management, FDC approvals, etc.

[10:32] {geo} i have some spreads on.... cant bring my self to buy em outright

[10:34] {Threei} Short Setup: RIMM  38 break half lot

[10:34] {Threei}  stop above .10

[10:38] {Threei}  UPDATE: USTR -OBAMA SEEKING TO GET CONGRESSIONAL APPROVAL FOR NEW PANAMA TRADE ACCORD

[10:39] {geo} hmm rare healthcare up

[10:39] {geo} BAX

[10:39] {Threei}  RIMM over 1:1

[10:40] {cujo} great Call Vad

[10:40] {buyemsellem} another good one

[10:40] {Threei}  lol, JPM

[10:40] {Threei}  HEARING JP MORGAN ANALYST SAYS CHK IS FAVORITE E&P STOCK AT THESE LEVELS (TIMING UNCERTAIN)

[10:40] {Threei}  something's wrong with their taste eh

[10:40] {Threei}  CHK chart is beyond ugly

[10:41] {Threei}  not sure its mother could love it

[10:41] {Threei}  RIMM{ cover in full if held

[10:41] {geo} all out .65

[10:41] {geo} lovely vad

06[10:41] * Threei slaps geo around a bit with a large roll of cash

[10:41] {Threei}  don't call me lovely

[10:41] {geo} :)

[10:42] {cujo} way to hold patience

[10:42] {dino} nice 3i

[10:42] {nemo} beauty vad

[10:42] {Threei}  not unless you have a proof you are female

[10:42] {geo} only had 3rd left

[10:42] {Onix} ty Vad, got some in RIMM :)

[10:42] {Threei}  welcome guys

[10:42] {Threei}  CAT stopped making new lows with market

[10:43] {Threei}  not ready to try long on it but observing

[10:43] {buyemsellem} interesting

[10:43] {pita} gm all, ty Vad Rimm

[10:43] {Threei}  retreated a bit too far from 23, obvious resistance to break

[10:43] {Threei}  pita :)

[10:44] {Threei}  ideally,

[10:44] {Threei}  if CAT consolidates closer to 23 for a while, not losing support of a nice tight range while market drops,

[10:44] {Threei}  and then breaks 23 with market bounce,

[10:45] {Threei}  that would be our long trigger

[10:45] {geo} in bax

[10:45] {Threei}  but don't go for it if it just breaks now

[10:45] {Threei}  let it form pronounced range

[10:46] {Threei}  CAT hasn't show worthy strength in ages, I prefer to miss the play on it rather than go for so-so setup

[10:47] {dino} \micc sm l .45

[10:47] {geo} heh market rinsed and WHR up

[10:48] {geo} tough crowd

[10:48] {Threei}  WHR from Fri after martket:

[10:48] {Threei}  Reaffirms forecast for FY09 EPS (cont ops) $3.00-4.00 v $3.09e, as issued on 2/9

[10:49] {nemo} Interesting, white goods manufacture reaffirming profits

[10:49] {Threei}  people do need their jakkuzzis, recession or not, right?

[10:49] {geo} rinse = whirpool washing get it?

[10:49] {nemo} cute

[10:49] {dino} rimm sm l .70

[10:49] {geo} sheesh

[10:49] {Threei}  ah come on geo... that's too deep for us

[10:49] {geo} sniff

[10:50] {Threei}  you really forgot during your winter break, didn't you

[10:50] {Threei}  tree good, fire bad

[10:50] {geo} heheheh

[10:50] {geo} true true

[10:50] {Threei}  keep at this level, and we will understand you

[10:51] {Threei}  OK, so far CAT is trying to do what it can

[10:51] {geo} anyone took bax? paying well

[10:51] {Threei}  let's designate .85 - .90 as support to hold

[10:51] {Threei}  and if market against all expectations strenghtens, 23 break will be worth a try

[10:54] {geo} man ABX just whipped

[11:00] {dino} the usual -3% hitting s/p, dji

[11:00] {Threei}  well kitty

[11:00] {Threei}  let's see if you can bounce

[11:04] {magoo} in

[11:04] {dino} mtxx straight down fast

[11:06] {dptl} stop under .88 cat?

[11:06] {Threei}  .85 for a day rade, .89 for hardcore scalpers

[11:06] {dptl} ok ty

[11:07] {Threei}  market weakens more

[11:08] {Threei}  doesn't feel like flush is coming though

[11:08] {cujo} but it is lunch....

[11:08] {Threei}  yeah

[11:09] {nemo} It's only 11

[11:10] {Threei}  CAT is willing... just needs a little help

[11:12] {wulff} catnip...

[11:12] {Threei}  in case market flushes down,

[11:12] {Threei} Short Setup: RIMM  .50 break half lot if stays below .65

[11:14] {Threei}  feels to me though as snapback is coming

[11:15] {Threei}  RIMM is invalidated obviously

[11:15] {magoo} TY AAPL vad

[11:15] {magoo} [11:14] {&Threei}  feels to me though as snapback is coming

[11:15] {Threei}  lol

[11:15] {magoo} hit aapl .80 off that...out .08

[11:15] {Threei}  derivative play eh?

[11:16] {magoo} aapl trong today

[11:16] {magoo} wants up

[11:16] {Threei}  nice spike AAPl

[11:17] {Threei}  you've chosen wisely mags

[11:17] {nemo} is that a quote Vad?

[11:17] {Threei}  wise magoo... anyone's shuddering of this image?

[11:17] {magoo} blushing

[11:18] {geo} why do i feel vad is going to regret this statement forever

[11:18] {Threei}  yes nemo but I can't remember the source

[11:18] {Threei}  lol geo

[11:18] {Threei}  I'll retract it quickly, no worry

[11:18] {nemo} Indiana Jones and the search for the Holy Grail

[11:18] {Threei}  yes, ty, remember now :)

[11:19] {dino} lol

[11:20] {geo} cat not too responsive

[11:20] {nemo} Visualizing Vad dressed as a Templar Knight

[11:20] {Threei}  here is my snapback

[11:20] {Threei}  my retina burns nemo

[11:21] {geo} your retina burns?????????

[11:21] {Threei}  CAT stop to .89 for everyone at this point

[11:21] {nemo} that detail would have sucked how many hundreds of years and no vodka!

[11:22] {Threei}  here kitty kitty kitty

[11:22] {magoo} exit ?

[11:22] {geo} if this wasnt trading it would be gross

[11:22] {Threei}  half or scalp on .10 break

[11:22] {geo} [08:22] {&Threei}  here kitty kitty kitty

[11:23] {Threei}  if uncomfortable, just scratch it for a profit not worth mentioning

[11:23] {Threei}  with morning profits, I feel fine risking 11-12 cents

[11:24] {geo} true that.... the cushion makes it easy to sit in trade

[11:25] {Threei}  eqzaktly

[11:26] {Threei}  as tempting as it is to take tiny profit and be able to claim 100% day, I recognize that it's just ego talking

[11:26] {nemo} Mmmmmhhhh...I thought they were demons

[11:27] {nemo} in my head, I mean

[11:27] {geo} flush?

[11:28] {Threei}  stopped CAT

[11:28] {geo} sigh

[11:28] {geo} better to have loved and lost

[11:28] {nemo} short below .80 to test low?

[11:28] {dptl} stopped cat

[11:28] {Threei}  not into sharp selling

[11:29] {nemo} too much volume on this drop?

[11:29] {Threei}  sharp price dive

[11:29] {Threei}  we don't chase those

[11:30] {wulff} short RIMM ?

[11:30] {Threei}  FED'S ROSENGREN: TROUBLED ASSETS SHOULD BE MOVED OFF BANK BALANCE SHEETS

[11:31] {Threei}  need some consolidation first wulff

[11:31] {nemo} Isn't that how we got in the mess in the first place?

[11:31] {Threei}  without it, it's just aimless wadnering up and down

[11:31] {wulff} like my account

[11:32] {geo} wow

[11:32] {geo} we have a dawg and a wulff

[11:32] {Threei}  and cujo

[11:32] {cujo} yup :) grrrr

[11:32] {nemo} send them after the cat!

[11:32] {geo} whats a cujo?

[11:32] {cujo} a rabid dog

[11:32] {nemo} Saint Bernard

[11:32] {geo} ahh

[11:33] {dino}  nmcd wants green

[11:33] {geo} nmcd?

[11:33] {cujo} mcd

[11:34] {cujo} sry wrong window

[11:39] {cujo} 95 pts and counting...

[11:40] {Threei}  95?

[11:40] {Threei}  on what?

[11:40] {Threei}  DJI is -211

[11:40] {cujo} was 205, just waiting for that 300

[11:40] {Threei}  ah

[11:40] {Threei}  countdown :)

[11:40] {nemo} Larisa's missing this

[11:41] {dino} vacation

[11:41] {Threei}  I bet she is so not

[11:41] {cujo} {cujo} -300

[11:41] {nemo} tongue in cheek

[11:42] {wulff} AAPL only + on my list

[11:43] {buyemsellem} yeah, that and anything inverse

[11:44] {buyemsellem} oh, don't forget VIX

[11:44] {Threei}  where is VIX?

[11:44] {geo} yeah BAX WHR all coming down

[11:44] {nemo} Appl forming an inverted C&H

[11:44] {geo} 51

[11:44] {buyemsellem} 51.04, +4.69 or +10.12%

[11:45] {Threei}  a bit up but way off Nov highs

[11:45] {buyemsellem} yup

[11:45] {Threei}  look at DRYS

[11:46] {nemo} Got a magnifying glass?

[11:46] {geo} all wet thats DRYS

[11:46] {Threei}  lol

[11:46] {Threei}  some amazing prices out there

[11:47] {Threei}  look at UAUA

[11:47] {nemo} damn shoulda shorted aapl

[11:47] {buyemsellem} red aapl

[11:47] {cujo} DOW in the green

[11:48] {cujo} the stock not the index

[11:48] {nemo} worm in it

[11:49] {geo} yup problem with value investing now is no one knows whats vale anymor

[11:49] {geo} ask bill miller

[11:49] {Threei}  or Buffet

[11:49] {geo} true

[11:50] {geo} poor guy beat sp 15 years in row ....now 10 yeal return below sp

[11:50] {geo} correction i dont think he is poor

[11:51] {pita} RIMM sinking

[11:52] {Threei}  yeah... I thought of conservative short entry when it bounced back into .50 after breakdown... hwesitated

[11:52] {Threei}  too bad

[11:53] {pita} 2020 hindsight

[11:53] {dino} fdo, dtlr, apol, athn, rate, cedc, only watchers up

[11:53] {geo} me short celg and esrx

[11:54] {magoo} gettin ugly now

[11:54] {Threei}  now??

[11:54] {Threei}  lol

[11:56] {geo} hey vad

[11:56] {geo} chaer on vacation?

[11:56] {Threei}  let me e-mail him

[11:56] {Threei}  he popped up for a minute last week

[11:57] {geo} magoo dcc pls

[12:00] {Threei}  what kind of stupid comment is this:

[12:00] {Threei}  FSLR

[12:00] {Threei}  HEARING SOME RECENT WEAKNESS BEING ATTRIBUTED TO VAGUE CHATTER THE CO. CANCELED OUT CONFERENCE IN CA

[12:00] {Threei}  as if in this climate some parricular reason is needed for a stock weakness

[12:01] {dino} had nothing to do with forecast, lol

[12:01] {Threei}  yeah

[12:01] {Threei}  if they were still coming to that conference, stock surely be up, right?

[12:02] {Threei}  oh well

[12:02] {Threei}  I am not holding my breath for the day when market comments will be done by someone who actually made a dime trading

[12:13] {Threei}  my question of the day: are we getting the speech and at what time?

[12:13] {cujo} CAT right by new lows...

[12:13] {nemo} Cat coming into the lows, are we looking at another short

[12:13] {Threei}  it formed inverted cup

[12:14] {Threei}  if adds handle, yes

[12:14] {cujo} ss .53, jumped gun

[12:14] {nemo} look at friday chart, I think this is the handle?

[12:15] {Threei}  I am talking about intraday

[12:15] {nemo} I was just going to say, there I go thinking again.

[12:15] {Threei}  yeah... as if you don;t know better

[12:15] {nemo} Did that feel good?

[12:16] {Threei}  kicking thy neighbor? always?

[12:16] {Threei}  I mean, always

[12:16] {nemo} in perpetuity?

[12:18] {dptl} so? cat?

[12:19] {Threei}  I don't know dp

[12:20] {Threei}  no confident read

[12:20] {Threei}  to me, this is right setup at the wrong time

[12:20] {Threei}  I like this kind of chart formations, I just avoid playing them at this time of the day

[12:20] {dptl} ok ty

[12:21] {dino} pressure building, big move in the making

[12:22] {dino} cedc filling open gap

[12:24] {Threei}  I am so tempted by STT long...

[12:24] {cujo} doh! stopped. -.09

[12:25] {Threei}  sigh... hesitated again, lol

[12:25] {Threei}  going for a smoke

[12:25] {dptl} me too

[12:27] {magoo} AAPL the key today

[12:28] {magoo} very indicative

[12:33] {dino}  cedc sm l .75

[12:34] {dino} giddy-up

[12:35] {Threei}  REPORTEDLY ECB IS PUTTING TOGETHER AN ASSET PURCHASE PLAN SIMILAR TO BOE, FED PROGRAMS - UNCONFIRMED REPORT CITING ECB SOURCES

[12:35] {Threei}  - Under the emerging ECB plan, national central banks could buy short-term corporate paper or securities.

[12:35] {Threei}  - 50bps refi rate cut is most likely outcome at Thursday's ECB policy meeting.

[12:36] {cujo} that c&h forming CAT Vad?

[12:37] {Threei}  more or less...

[12:37] {cujo} stp would be over .70?

[12:37] {Threei}  same thing still... chart's right, time of the day is wrong

[12:38] {cujo} yeah

[12:39] {nemo} question on that Vad:  time of day is wrong, but day is definitely down, does that way in favor of the setup midday (heheh as it spikes)...or did I just answer the question...damn thinking

[12:39] {nemo} way=weigh

[12:39] {Threei}  it's just that at this time market is more likley to shake out than to follow up the setups

[12:40] {nemo} regardless of the prevailing trend?

[12:40] {Threei}  there is no trend right now

[12:40] {Threei}  there is aimless wandering

[12:40] {nemo} I understand, but that the main trend today was down.

[12:40] {Threei}  sure

[12:41] {Threei}  what good general direction for the day is if you get into the trade right now, and get shaken out?

[12:41] {nemo} understand

[12:41] {Threei}  downtrend was in place from 10 to 12

[12:42] {nemo} Yea, I guess arguably it's been trending up since

[12:43] {Threei}  well, not really up

[12:43] {Threei}  rather consolidating

[12:43] {Threei}  for who knows what

[12:44] {Threei}  the only scenario under which I'd feel comfortable:

[12:44] {Threei}  suden sharp move down in the market, CAT slight delay for entry

[12:45] {Threei}  anything else is 50/50

[12:45] {Threei}  may work, may give a few cents and snap back

[12:45] {Threei}  FED'S LACKER: PROPOSED TREASURY TAKEOVER OF CREDIT PROGRAMS FROM THE FED

[12:47] {Threei}  anyone understands this?

[12:47] {Threei}  BELIEVES THE FED'S CREDIT ACTIONS CAUSE MORAL HAZARD

[12:47] {Threei}  - Using Fed's balance sheet as path of least resistance because it bypasses Congress

[12:47] {Threei}  - Should not be difficult to transfer Fed lending to Treasury's books

[12:47] {nemo} more comrade speak?

[12:48] {dino} lods

[12:48] {Threei}  well, yes, but it sounds like potential huge reworking of the financial system

[12:48] {nemo} I think it's accounting shuffling from one organization to the other

[12:48] {Threei}  with changing of the very role of the Fed

[12:49] {Threei}  if this is what's implied, I want to stay in cash until something clears up

[12:51] {Threei}  - Warns that government intervention adds to market uncertainty.

[12:51] {nemo} Going for your title again

[12:55] {dino} mcd green

[12:58] {buyemsellem} isn't this special timing

[12:59] {buyemsellem} prez speech

[12:59] {nemo} what?  Obama speaking again?

[12:59] {Threei}  yes, lol

[12:59] {nemo} really?

[12:59] {Threei}  yes

[13:00] {Threei}  russian-speaking may remember the slogan: ni dnja bez strochki

[13:01] {nemo} no tickee no shirty?

[13:01] {Threei}  paraphrasing for this situation and Enlgish... no day without speceh

[13:06] {Threei}  GE

[13:06] {Threei}  CEO IMMELT DISCLOSES PURCHASE OF 50K SHARES AT $8.26 - FILING DATED 3/2

[13:06] {Threei}  big spender, he is

[13:07] {nemo} FAS/FAZ compressing

[13:12] {Threei}  yawn

[13:15] {magoo} q server vad?

[13:15] {Threei}  9

[13:15] {magoo} ty

[13:22] {Threei}  BAC CEO: GOVT AID FOR MERRILL TRANSACTION WAS A 'TACTICAL' ERROR

[13:22] {Threei}  meaning?

[13:23] {Threei}  chaeron forgot how to connect the room

[13:23] {nemo} now they can't pay bonuses

[13:24] {dino} i think they are more worried that govt citi's them

[13:24] {Threei}  since when the bonuses for your normal day-to-day job become expected

[13:25] {Threei}  oh, I forgot... without them brightest talents will leave

[13:25] {Threei}  to man hotdog stands I guess

06[13:25] * Threei slaps Chaeron around a bit with a large roll of cash

[13:25] {Chaeron} thanks

[13:25] {Threei}  always

[13:25] {Threei}  how have you been?

[13:25] {Chaeron} can always use it... :)

[13:25] {nemo} all that talent that got us into this septic tank in the first place!

[13:26] {Chaeron} great thanks

[13:26] {Chaeron} how's everyone? Am 

[13:26] {Chaeron} Am I interrupting?

[13:26] {Threei}  yes, we were in deep coma

[13:26] {Chaeron} as usual

[13:26] {Threei}  dcc chaeron :)

[13:27] {Threei}  CEO: GOVT AID FOR MERRILL TRANSACTION WAS A 'TACTICAL' ERROR; POSSIBLE BOA COULD PAY BACK TARP FUNDS IN TWO TO THREE YEARS - FT INTERVIEW

[13:34] {Threei}  - says $10B would have been a better sized request

[13:34] {Threei}  how much did they get?

[13:36] {dino} 8 bucks

[13:51] {Threei}  OK guys

[13:51] {Threei}  ready to start trying for an upward move?

[13:52] {magoo} yup

[13:52] {pita} today?

[13:52] {Threei}  warning: can cost a stop or two until we get it right

[13:52] {Threei}  CAT, .50 break for a scalp

[13:53] {Threei}  if holding above .35 - .40

[13:53] {Threei}  STT, half lot long closer to .30

[13:54] {nemo} in cat

[13:54] {Threei}  with stop .15 for STT

[13:55] {magoo} in cat

[13:55] {Threei}  if no pullback, wait for market spike and grab STT with stop under .30

[13:55] {nemo} here's some milk for ya' sweetie

[13:58] {nemo} tht's two teleports for cat

[13:59] {Threei}  .50 break should catapult STT

[14:04] {dino} rally time, lately around 2-2:30, sell offs after 3

[14:04] {Threei}  CAT 1:1 baby

[14:05] {dawg} yessir

[14:05] {nemo} 1/2 out 1:1

[14:05] {nemo} cat

[14:05] {Threei}  if partialling, move stop to .45 for the balance

[14:06] {Threei}  STT still hasn't decided... never pulled back enough for entry, never nbroke .50

[14:06] {Threei}  US HOUSE LAWMAKERS ASK DOE TO REVIEW VITOL OIL CONTRACTS

[14:06] {Threei}  - Note that Vitol is the largest independent physical trader of oil.

[14:06] {Threei}  - Reminder: Back on 12/24, the CFTC said it was looking into Vitol's use of floating tankers as oil storage and Hedge Fund activities

[14:07] {Threei}  FED'S LACKER: SUPPORT INFLATION TARGET OF 1.5%, US APPROACHING A LIMIT ON DISCRETIONARY SPENDING; CONCERNS OF JOB MARKET HITTING CONSUMER SPENDING

[14:07] {Threei}  - Notes risks to deflation have recently fallen

[14:07] {Threei}  - Remarks that growth will increase when households stop trimming spending{

[14:16] {Threei}  if STT triggers, stop under .35

[14:17] {dptl} in.51

[14:20] {Threei}  no worky STT

[14:21] {nemo} stopped cat

[14:21] {dptl} ye...stopped

[14:26] {cujo} Vad, how has real estate in Canada been?

[14:26] {Threei}  fairly stable so far

[14:26] {Threei}  retreated of course

[14:26] {Threei}  but nothing on a scale of US

[14:26] {cujo} did you guys have any exposure in the banks to subprime at all?

[14:27] {Threei}  not in a sense of subprime lending in Canada

[14:28] {cujo} ss rimm .07

[14:30] {Threei}  what's with BAC buying

[14:30] {nemo} Immelt?

[14:31] {Threei}  ?

[14:31] {nemo} bad joke...he bot 50k of GE why not some more pos

[14:31] {Threei}  lol

[14:32] {nemo} my jokes are like my trading lately, huh Magoo?

[14:32] {Threei}  SEC'S WALTER: URGES CONGRESS TO MERGE THE SEC WITH THE CFTC, BELIEVES SEC SHOULD HAVE OVERSIGHT OF DERIVATIVES

[14:33] {cujo} stopped -.04

[14:34] {Threei}  wow

[14:36] {Threei}  who said where what?

[14:36] {nemo} Yeah, no kiddin' unless it was that Walter comment

[14:36] {Threei}  nah

[14:43] {cujo} anyone think RIMM gonna break .50 and run?

[14:44] {nemo} I'm not supposed to think

[14:44] {cujo} me too.  hurts.

[14:45] {Threei}  I am willing to think for 3 minutes straight... who pays for Advil?

[14:45] {nemo} use vodka

[14:46] {cujo} uhh, i have a bottle.

[14:46] {nemo} vodka or advil

[14:46] {Threei}  nah... vodka helps stop thinking but not with headache

[14:46] {Threei}  unless you are dp... he uses vodka as an universal cure

[14:47] {dptl} :)  ....

[14:49] {Threei}  STT fooled us eh

[14:51] {Threei}  I am waiting for magic words

[14:51] {Threei}  m-t-m abolished

[14:51] {Threei}  buying 5K BAC, 5K FAS

[14:51] {Threei}  closing my eyes

[14:51] {nemo} short FAZ

[14:51] {Threei}  and not opening them for 30 minutes

[14:54] {Threei}  FAZ won't be available

[14:54] {nemo} True

[14:54] {Threei}  one of those announced non-marginable recently

[14:54] {nemo} Oh

[14:58] {Threei}  by the way,

[14:59] {Threei}  since m-t-m change will cause market to rally but won't fix economy fundamentally... is this the last bullet they have?

[14:59] {nemo} bad bank?

[14:59] {Threei}  any more ammon in their arsenal we can think of?

[14:59] {Threei}  yeah, I guess

[15:00] {cujo} i can't think of anything.

[15:00] {nemo} Forgot...I'm not supposed to think...damn

[15:00] {Threei}  sorry

[15:00] {Threei}  didn't mean to cause you headache

[15:00] {nemo} Yeah, you tricked me, it's your fault

06[15:00] * Threei mails nemo a bottle of Advil

[15:01] {Threei}  FDIC'S BAIR: DOES NOT FORECAST GOVT 'RUNNING LARGE BANKS'; THERE ARE DIFFICULTIES IN BANK NATIONALIZATION

[15:01] {Threei}  OK, "no nationalization" isn't working anymore

[15:01] {Threei}  not even blinking on that

[15:01] {cujo} ss bac .76

[15:01] {nemo} in name...as they attach restrictions to money they are nationalizing

[15:02] {Threei}  FAS sharp drop

[15:05] {Threei}  cujo... your call for -300 looks better and better

[15:05] {cujo} got this feelin...

[15:06] {cujo} Bac +.10

[15:06] {Threei}  kitty is back to low

[15:08] {Threei}  FDIC'S BAIR: REITERATES WOULD BE 'SURPRISED' IF A US BANK WAS NATIONALIZED; DOES NOT FORECAST GOVT 'RUNNING LARGE BANKS' - CONF COMMENTS

[15:08] {Threei}  uh oh

[15:08] {Threei}  143rd reasurance about no nationalization in 5 week...

[15:08] {Threei}  sounds ominous

[15:11] {Onix} just look @ that craze PALM on such a day!? :O

[15:12] {cujo} that pre better be something amazing

[15:17] {Threei}  SLM

[15:17] {Threei}  FITCH PLACES RATINGS ON NEGATIVE WATCH; AFFECTS APPROX $39.7B IN DEBT AND PREFERRED STOCK

[15:20] {Threei}  fern

[15:20] {Threei}  why did we ever cover SLM?

[15:20] {buyemsellem} or any other short

[15:20] {Threei}  lol

[15:20] {cujo} BAC inverted sc&h?

[15:20] {cujo} c&h

[15:21] {fernp} don't know :)

[15:21] {Threei}  can't tell cujo, this is tough one

[15:21] {cujo} i'm scared...

[15:21] {Threei}  hmmm

[15:21] {nemo} although FAZ just broak the high

[15:21] {Threei}  is rabid dog is scared...

[15:21] {Threei}  if

[15:21] {nemo} no, he's sick

[15:22] {cujo} i'm getting better.  Had a cold or flu last week....  Better now.. 

[15:24] {Threei}  OCC'S DUGAN: US ADMINISTRATION HAS MADE PROGRESS ON PUBLIC/PRIVATE ASSET PLAN; RUNNING LARGE BANKS 'LAST RESORT'

[15:25] {Threei}  who said they are capable of running them at all?

[15:25] {cujo} FAZ taking off

[15:26] {cujo} well, not taking off

[15:26] {nemo} Vad, haven't the last few closing hours been relatively muted?

[15:27] {Threei}  mostly

[15:27] {Threei}  unless prez spoke on the last minutes

[15:28] {dptl} ok....have a good evening all

[15:28] {Threei}  take care dp

[15:28] {cujo} c ya dp

[15:33] {dino} been down tho

[15:38] {fernp} funny and educational video about "the crisis"

[15:38] {fernp} http://vimeo.com/3261363

[15:39] {Threei}  ty fern

[15:39] {fernp} welcome

[15:41] {Threei}  hard to imagine FAS going any lower

[15:41] {Threei}  which probably means it will, lol

[15:41] {cujo} can you imagine FAZ going higher? :)

[15:41] {nemo} sure...seen skf

[15:41] {Threei}  FAZ used to trade at 200 :)

[15:42] {buyemsellem} S&P 700?

[15:42] {Threei}  see 11/21

[15:42] {cujo} {cujo} -300

[15:42] {Threei}  12 left

[15:44] {Threei}  -305

[15:44] {Threei}  good call

[15:44] {buyemsellem} there it is

[15:44] {buyemsellem} 699

[15:44] {cujo} boom goes the dynamite

[15:46] {dino} wow, used to take 3-5 days to drop 5%, s/p did it today

[15:47] {dino} i have to reviise my dji zero target in 15 weeks to 5 weeks at this pace

[15:47] {Threei}  lol

[15:48] {dino} all of this because of an accounting change, wow!

[15:48] {Threei}  well, I think there is more to it than that :)

[15:49] {dino} yes, but it was the trigger imo

[15:49] {nemo} I remember this starting in 2007 w/the subprime guys going south

[15:50] {Threei}  what is the difference between taking something overnight today and buying lotto ticket?

[15:50] {cujo} lotto ticket limited loss

[15:50] {nemo} going short is less of a risk than going long...

[15:51] {dino} -10%+ since wed. that the only edge immo

[15:51] {cujo} holding over night tonight....  another story...

[15:51] {Threei}  I am with cujo... lotto ticket won't cost nearly as much

[15:51] {nemo} Yep...Megamillions 212 million

[15:51] {cujo} nice.  Gonna get me some tickets tonight. 

[15:53] {Threei}  well, me happy with our performance in this market

[15:54] {Threei}  5 for 7 if my memory serves me right

[15:54] {nemo} yep..tiptoeing through the minefield nicely

[15:54] {buyemsellem} definitely a good day

[15:54] {nemo} one was a 1/2

[15:54] {cujo} yup, good day today

[15:54] {Threei}  let's stay this way... restrained, careful, taking safe trades

[15:55] {Threei}  until markey loses its marbles and decides to raly against all odds

[15:55] {dino} iart

[15:56] {Threei}  cruel

[15:56] {Threei}  too close to eod though

[15:57] {dino} isrg ouch

[16:00] {Threei}  okay guys, thank you all

[16:00] {nemo} P&Q 

[16:00] {Threei}  have a great evening

[16:01] {Threei}  see you tomorrow

[16:01] {vint} bye all

[16:01] {cujo} c ya

[16:02] {fernp} good nite all

Feb 27 2009

The two weeks-long winning streak continued today. Wasn't an easy day by any means though - slightly up, slightly down for a good half of the day until a few good trades finally turned day green. Nothing outstanding, but I'll take it in today's directionless choppy market.

Session Time: Fri Feb 27 00:00:00 2009

[08:09] {magoo} morning

[08:12] {nemo} magus

[08:12] {magoo} nem:)

[08:22] {nemo} Seen FAZ?  I guess Obama and the rescue plan ain't cutting it this morning.

[08:26] {magoo} wish i could ca5tch one of those moves

[08:26] {magoo} catch

[08:28] {nemo} volumes are so tiny pre market.  FAS would be better on either side.

[08:38] {nemo} frickin' energizer bunny FAZ

[08:39] {Onix} gm all

[08:44] {cujo} good morning all.

[08:46] {magoo} wheres our fearless leade?

[08:46] {nemo} Good question?

[08:46] {nemo} Who's got his phone number

[08:46] {magoo} and i dont mean cujo he he

[08:47] {nemo} don't piss off the rabid dog

[08:49] {cujo} dog has a sore throat this morning....

[08:50] {patience} good morning RT  :)

[08:54] {magoo} morn patience..are u the "lone" lady in room  lol?

[08:54] {patience} what about fernp

[08:56] {Threei}  Good morning

[08:56] {nemo} Sleepy head, how are you?

[08:56] {Threei}  hmmm... OK I guess

[08:57] {Threei}  my alarm, not so sure

[08:57] {cujo} morning Vad

[08:57] {hawkfan4} morning

[08:57] {Threei}  cujo :)

[08:57] {nemo} 7.62X39 problem?

[08:58] {Threei}  not sure what that is... I am familiar with 2x4 problem

[08:58] {nemo} AKM round

[08:58] {Threei}  is it C news that kill the market this morning?

[08:58] {buyemsellem} morning

[08:58] {Threei}  buyem :)

[08:58] {cujo} morning buyem

[08:59] {nemo} only thing I see

[08:59] {hawkfan4} think so vad

[08:59] {Threei}  ty hawk

[08:59] {nemo} this GDP report might not be helping either

[09:01] {Threei}  C

[09:01] {Threei}  CEO PANDIT: WHAT WE ANNOUNCED TODAY WAS NOT EASY GIVEN EXPECTED DILUTION, BUT CONFIDENCE IS KEY AND MOVE BUILDS CONFIDENCE

[09:01] {Threei}  yup

[09:01] {Threei}  confidence is abundant

[09:01] {nemo} on trader tax, found this post:

[09:01] {nemo} Traders Tax Update

[09:01] {nemo} Here is an email I received in response to the post about the traders tax.

[09:01] {nemo} hey brian, i am a board member with the boston securities traders association. we met with congressman barney frank last thursday to discuss the ftt proposal. he assured us that it was off the table for this presidential cycle (the next 4ish years.) he said that the only way it would be enacted is if wall street doesn't pay back its share of tarp funds. our stance (obviously) is that it would be extremely detrimental to the mkt efficiency a

[09:01] {nemo} our other agenda items were the short sale ban and the uptick rule.

[09:01] {nemo} thx for all you do. i am an institutional trader covering some big mutual funds and hedge funds. you ideas are extremely insightful.

[09:01] {nemo} hope that info helps.

[09:01] {nemo} Gives us enough time to move to the Bahamas

[09:03] {Threei}  Q4 PRELIMINARY GDP ANUALIZED: -6.2% V -5.4%E; PERSONAL CONSUMPTION: -4.3% V -3.7%E

[09:03] {Threei}  whole issue is tradertax's self-hype

[09:04] {nemo} Alright, call me glass half-empty, I don't believe in a benevelent government

[09:04] {nemo} benevolent

[09:04] {Threei}  netier do I

[09:04] {Threei}  but this is not a matter of benevolence

[09:04] {Threei}  this is a matter of who benefits

[09:04] {Threei}  in this case, nobody

[09:05] {Threei}  not a first time btw... I saw different entities in our industry trying to get a lot of atention by attempting to become leaders in uniting traders againstr something

[09:07] {Threei}  one even went as far as trying to organize trader's union {G}

[09:08] {pita} gm everyone, happy Friday

[09:08] {Threei}  pita :)

[09:12] {cujo} long SH .03 small lot.

[09:12] {dino} gm all, end of days again i see. nothing like wiping our the preferred before thev common on citi

[09:12] {dino} worked so well w/fre, fnm

[09:14] {Threei}  dino :)

[09:15] {Threei}  BAC is smacked down good

[09:16] {magoo} went under 4 vad

[09:16] {Threei}  yeh

[09:16] {fernp} Hello everybody

[09:16] {magoo} i sent u a wake up email lol

[09:17] {Threei}  fern :)

[09:17] {ese} morning

[09:17] {Threei}  sigh... that was fery intursive :)

[09:17] {Threei}  ese :)

[09:17] {Threei}  be back in 6

[09:18] {dino} 6?, used to be 5, slowing down?

[09:18] {nemo} two cigarettes

[09:19] {dino} :)

[09:19] {nemo} looks like it might be a bohica morning

[09:20] {nemo} 3 more minutes

[09:20] {dino} rule 1 guys, remember it today

[09:21] {cujo} what is rule 1 again?  we don't talk about fightclub?

[09:21] {nemo} what? don't forget the money?

[09:21] {dino} you must stay in the game

[09:21] {vint} good morning all

[09:21] {cujo} got it. 

[09:21] {dptl} good morning all

[09:21] {nemo} so, keep you chin down, and duck

[09:21] {nemo} two minutes

[09:22] {nemo} one minute

[09:23] {Threei}  vint, dp :)

[09:23] {nemo} right on time

06[09:23] * Threei slaps nemo around a bit with a large chronometer

[09:23] {nemo} You should go for swiss citizenship

[09:23] {nemo} or...run the trains in Germany

[09:23] {Threei}  too much socialism

[09:24] {Threei}  although we are going rith there too

[09:24] {nemo} and...we live in what?

[09:24] {magoo} [09:24] {&Threei}  too much socialism

[09:24] {nemo} check that..and wel live in what, comrade graifer

[09:24] {magoo} gonna get worse..can we profit is all?

[09:25] {cosmo} cheer up ... i say the glass is 1/3 full

[09:25] {nemo} Do you define profit as what you make trading, or what the IRS leaves for you at the end of the year?

[09:25] {nemo} cosmo...that's because you have to give the other 2/3s to Washington

[09:26] {gen} gm all

[09:26] {Threei}  too much theory for the Friday morning...

[09:26] {Threei}  gen :)

[09:26] {gen} Vad :)

[09:26] {nemo} funny...I thought I was bitching...channeling Magoo

[09:26] {magoo} thats cause someone is tired

[09:27] {Threei}  no, that's because thinking hurts

[09:27] {dino} fslr 100

[09:27] {Threei}  let's skip first minutes guys

[09:27] {nemo} Mmmmh...I was wondering what that pain in my ass was?

[09:27] {Threei}  eqzaktly nemo

[09:27] {Threei}  it causes widespread pain

[09:28] {nemo} subtle

[09:29] {ese} fslr looks promising dino

[09:29] {cosmo} gee....as a U.S. tax payer, i must be a majority share holder in C

[09:29] {cosmo} lets see......hmmmm

[09:29] {nemo} I wonder if we'll get a dividend check...thinking again :(

[09:29] {dino} es, stay away imo it goes to 80s

[09:30] {ese} done

[09:31] {cujo} stopped SH

[09:31] {cujo} -.24

[09:32] {dino} new s/p, ndk lows

[09:32] {dino} opps ndx broke mon lows, 1018 nov low

[09:32] {Threei}  watching STT

[09:33] {dino} 8.50 ge

[09:33] {dino} rimm, vz not bad

[09:34] {magoo} any read DECK vad? murdered afterhr

[09:35] {Threei}  jumped off 24 faster than I could type...

[09:35] {Threei}  too volatile mnags

[09:35] {dino} edu's up, apol, cpla, ceco, esi

[09:36] {Threei}  C

[09:36] {Threei}  GOLDMAN ANALYST: AVOID CITI SHARES; CITI MAY NEED TO SEEK FURTHER FUNDING (TIMING UNCERTAIN)

[09:36] {Threei}  ugh STT

[09:36] {magoo} jesus

[09:36] {magoo} thats funny..lost is REALLY lost

[09:37] {cujo} c

[09:41] {cosmo} CAT bounce?

[09:41] {nemo} it bounced alright

[09:42] {cosmo} SNDA

[09:43] {cosmo} 29.50 pivot

[09:43] {cosmo} maybe

[09:44] {ese} with all the selling goin on the market ain't going that far down.....blood from a stone theory

[09:44] {Threei}  can't get a feel so far, bounce or smakcdown

[09:44] {Threei}  stomach says smackdown

[09:44] {nemo} should start showing it's hand after 10

[09:45] {Threei}  FEB CHICAGO PURCHASING MANAGERS INDEX: 34.2 V 33.0E

[09:45] {dino} same feel here vad

[09:46] {dino} sitting and waiting some more

[09:46] {Threei}  me too

[09:46] {ese} me three

[09:46] {dino} rimm, aapl, mcd green

[09:46] {dino} wmt too

[09:46] {dino} fdo, dltr

[09:46] {ese} although i have been accumulating some stocks at these levels

[09:47] {dino} gl

[09:47] {ese} eslr for one 5000 shs of it in the 2 dollar range

[09:47] {Threei}  I don't know about that one ese...

[09:47] {Threei}  it's fighting for survival

[09:48] {dino} wow, solars in this environment, gutsy move imo

[09:48] {cujo} PALM thriving

[09:48] {ese} Hero for another another 5000 shs $1.50

[09:48] {dino} orders are dropping like crazy at spwr, fslr

[09:48] {Threei}  ESLR may run out of money by the summer

[09:48] {ese} ya thats possible

[09:49] {pita} but then the sum will come out and recharge them

[09:49] {pita} sun

[09:49] {Threei}  either that, or eternal darkness will cover it forever

[09:50] {cosmo} their new cells will pick up infrared though

[09:50] {dino} you know, if obama can get interest rates up to 14%, this would be just like carter all over

[09:51] {nemo} has to happen at some point

[09:51] {Threei}  and he does have Volcker in his team

[09:51] {dino} feels familiar....and i am missing reagan

[09:51] {cosmo} i am

[09:51] {nemo} The more that things change, the more they stay the same...having said that they keep Volker on a short leash.

[09:52] {Threei}  ok, this is high time for the market to drop sharply

[09:52] {Threei}  if it doesn't, I still don't have a reliable read

[09:53] {cosmo} qqqq wants green

[09:53] {pita} watch list?

[09:53] {dino} ndx wants to fill open gap

[09:53] {Threei}  RIMM, BAC, STT

[09:54] {Threei}  from where I sit, what we have right now is retest of the high on dropping volume

[09:54] {ese} QQQQ almost has dino

[09:54] {Threei}  perfect moment for the trap

[09:54] {nemo} so the rug's about to come out?

[09:54] {Threei}  let's put it this way:

[09:54] {Threei}  if rug gets pulled now, this is the event I can read

[09:55] {Threei}  if not, it's something I have no playable scenario for

[09:55] {Threei}  FEB FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 56.3 V 56.0E

[09:55] {Threei}  wow... we have confidence?

[09:55] {Threei}  higher than estimate?

[09:57] {magoo} quite a pullbk FAZ vad

[09:57] {ese} .3 confidence....huge man huge!!!

[09:57] {magoo} can u readd it for bounce boss?

[09:57] {Threei}  magoo, FAZ is inverted market practically at this point

[09:57] {Threei}  if I have no read on the market, same goes for FAZ

[09:58] {magoo} right..so q crash..faz bounce

[09:58] {Threei}  and spike shows that I apprently don't

[09:58] {magoo} 100 shares 5 points

[09:58] {ese} what i'm finding interesting vad is looking at the stocks this morning on trade the news that have been cut to sell.......there going nowhere infact alot of them going up ESLR for example +.02

[09:59] {Threei}  that would be bottoming scenario ese...

[09:59] {Threei}  and I honestly find it very hard to believe the bottom is found

[10:00] {ese} i'm seeing it that way.....

[10:00] {ese} could be wrong but ......

[10:06] {Threei} Long Setup:  STT  half lot .55

[10:06] {Threei}  if stays above .35

[10:07] {dino} the problem i see es, is we only have like 6 positive days a month

[10:08] {Threei}  invalidated

[10:08] {ese} funny was just looking at that.......

[10:08] {cosmo} CAT bounce seems lively ....that's my gullible read....

[10:08] {dino} and of course ,new lows lower highs

[10:08] {ese} january no better

[10:08] {dino} right

[10:08] {Threei}  good... didn't really feel easy about this trade

[10:08] {Threei}  I still prefer a good pullback

[10:08] {dino} we just go straight down w/maybe 1 up/week, if that

[10:09] {Threei}  RIMM pulling back

[10:09] {ese} lower highs for sure....

[10:09] {dino} dji (which really doesn't mean much) new lows 

[10:10] {Threei}  OK, knowing the way STT moves, watching it for serious drop

[10:10] {Threei}  25.50 at least and most likely 25, before I get interested

[10:10] {Threei}  RIMM, 39.50 zone

[10:11] {dino} the only game changer i see, is m2m

[10:11] {ese} that sell off on the 20th...3rd biggest in a year....would be historic if we had a fourth

[10:12] {dino} anything can happen....and that statement has saved me a lot of $ thru this

[10:13] {ese} and your doin much better at this than i am dino......very much respect your opinion

[10:14] {Threei} Short Setup: RIMM  .14 half lot

[10:14] {Threei}  if stays below .30

[10:15] {Threei}  invalidated

[10:16] {magoo} quote server vad pl

[10:16] {Threei}  3

[10:17] {magoo} ty

[10:17] {Threei}  RIMM setup is back

[10:17] {Threei}  same conditions

[10:18] {nemo} in and out

[10:21] {Threei}  tough action to read

[10:21] {Threei}  NASDAQ green

[10:30] {ese} how do you get kicked if you are already on

[10:30] {Threei}  .long stt .85 if stays above .70

[10:30] {Threei} Long Setup:  STT  .85 if stays above .70

[10:32] {dino} gremlins attacked

[10:32] {Threei}  I have strong feeling this thing is going to break 27 and explode

[10:33] {Threei}  little market help is needed

[10:36] {Threei}  come on market... STT is holding so well, just little push

[10:37] {magoo} in btw

[10:38] {cujo} ditto

[10:38] {pita} double ditto

[10:38] {magoo} longer it takes i like it less

[10:41] {fernp} AMAT breakdown Vad?

[10:42] {Threei}  too narrow for my taste fern

[10:42] {fernp} ok

[10:43] {Threei} Long Setup:  HIG  .11 if stays above 6

[10:47] {magoo} wheres stt stop

[10:47] {Threei}  10:30] {Threei} Long Setup: STT .85 if stays above .70

[10:47] {magoo} sorry

[10:48] {Threei}  come on already STT, you know you want up

[10:48] {magoo} in hig miester

[10:48] {nemo} Violence Va

[10:48] {cujo} in HIGgy

[10:49] {Threei}  feels more than scalp, HIG

[10:50] {Threei}  let's try to partial who is up for the game

[10:50] {Threei}  over 1:1

[10:50] {dawg} dawg out half

[10:51] {magoo} kickin STT

[10:51] {pita} HIG 1:1 ty

06[10:51] * Threei kicks everything in the rear

[10:51] {cujo} any stop trail on HIG?

[10:51] {Threei}  pita :)

[10:51] {fernp} ty

[10:51] {Threei}  6.05

[10:52] {Threei}  new high, let's make it 6/09

[10:52] {Threei}  6.09

[10:53] {dino} itt sm l .10

[10:53] {magoo} must confess..out hig .22 ty

[10:53] {Threei}  full?

[10:53] {magoo} yup from .07

[10:54] {Threei}  okay

[10:54] {magoo} may reload 

[10:54] {magoo} wanted to bank it

[10:54] {cujo} STT wants it..

[10:54] {cujo} i can taste it...

[10:55] {Threei}  needs help by market...

[10:59] {Threei}  amazing how it's holding the line in the sand eh?

[10:59] {nemo} STT?

[11:00] {Threei}  yeah

[11:00] {cujo} its a plateau

[11:00] {Threei}  well... it's a salmonish plateau

[11:00] {nemo} or diving board

[11:00] {Threei}  Geo!

[11:00] {Threei}  welcome back

[11:01] {geo} :)

[11:01] {geo} good to be home ....

[11:01] {dino} gm

[11:02] {geo} hiya dino..... left anything for me to scrape off the floor?

[11:02] {dino} only hit one so far, cautious

[11:03] {dino} deck interesting

[11:03] {dino} mant too

[11:03] {geo} cool... i am rusty....

[11:03] {geo} Ty will look

[11:03] {Threei}  no worky

[11:03] {Threei}  too bad, this one was very promising

[11:04] {Threei}  was it a shake?

[11:04] {nemo} got a spike on volume there

[11:05] {pita} interpret spike?

[11:06] {nemo} who...me?

[11:06] {pita} anyone

[11:06] {nemo} Vad...

[11:06] {Threei}  those who accumulated shares during this consolidation exited as support got broken

[11:07] {Threei}  HIG, scalpers win

[11:07] {Threei}  1;1 was all

[11:07] {magoo} I WIN I WIN

[11:07] {magoo} GEOOOOOOOOOOOOOOOO

[11:07] {Threei}  lol

[11:07] {geo} hiya magoo

[11:07] {fernp} me too

[11:08] {Threei}  those pesky scalpers...

[11:08] {magoo} thats right..fern too

[11:08] {Threei}  not only they win, they gloat too

[11:08] {fernp} and covering AMAT here +.11

[11:09] {dino} gj

[11:09] {Threei}  btw... HIG formed same setup once again

[11:09] {pita} RIMM will 40 hold?

[11:09] {Threei}  only with tighter stop this time

[11:09] {Threei}  under .05

[11:10] {dino} lol citi chairman, "this should put nationalization fears to rest"....dino replies, "yes, as it just happened"

[11:11] {Threei}  lol

[11:11] {cujo} l aapl .64 stop .47

[11:12] {Threei}  hey, president on TV in 30 minutes

[11:13] {nemo} you're kidding?

[11:13] {Threei}  no

[11:13] {cujo} nice

[11:13] {Threei}  announcement on ending war in Iraq

[11:13] {dino} short 'em all

[11:13] {cujo} really?

[11:14] {Threei}  and you thought we would get our daily fix?

[11:14] {cujo} aapl stopped -.17

[11:14] {magoo} great ..lets give terrorists a timeline

[11:14] {nemo} freedom fighters, Mags

[11:14] {dino} yeah, we just have to hide for 18 months

[11:14] {Threei}  FED'S BULLARD: ENERGY PRICE 'SHOCK' WAS MAJOR DRIVER OF RECESSION IN 2008; MUST MEASURE INFLATION BETTER

[11:14] {Threei}  - Notes that when exclude prices that are rising, the Fed loses some credibility

[11:15] {Threei}  Fed loses credibility?

[11:15] {Threei}  nooooooo!!!

[11:15] {Threei}  say it ain't so

[11:15] {Threei}  my whole world comes down crashing

[11:16] {geo} VRTX 

[11:17] {dino} pharms are getting killed by obama geo, careful

[11:17] {geo} yeah

[11:17] {magoo} vad..feels like we should enter STT again just on pllbk

[11:17] {geo} IBB was given a shound beating yesterday

[11:18] {magoo} wghich is developing

[11:18] {nemo} maybe obama isn't a communist...he's an agrarianist...at this rate only farming will be left

[11:18] {patience} that's where the money is going nemo  :)

[11:19] {geo} hiya patience.....

[11:19] {geo} hows gold treating ya?

[11:19] {dino} well, not really patience over 500k no more subsidies

[11:19] {magoo} um vad

[11:19] {Threei}  ?

[11:20] {magoo} [11:17] {magoo} vad..feels like we should enter STT again just on pllbk

[11:20] {magoo} [11:18] {magoo} wghich is developing

[11:20] {patience} institutional money moving into ags again

[11:20] {Threei}  do you see any sign of bounce?

[11:20] {Threei}  I don't

[11:20] {magoo} no..i want u on it

[11:20] {nemo} JBI on STT

[11:20] {pita} HIG?

[11:20] {magoo} u are sluggish today so im helping u out

[11:21] {Threei}  no, tyou are pushing me into trade that isn't there

[11:21] {geo} i c nothing has changed

[11:21] {Threei}  HIG is bounce xcandidate as long as it's holding above 6 pita

[11:21] {geo} sigh... good to be back and feel the love

[11:22] {hawkfan4} lol 

[11:22] {Threei}  just can't count on it without market bounce, and it just not happening

[11:22] {dino} no time for bouncy bouncy

[11:24] {geo} SYK being sold nicely too

[11:25] {cujo} i think this might be the end of the world...  I actually agree with Kudlow...

[11:25] {geo} hmmm

[11:25] {nemo} nail the windows shut lock up the belt and the shoelaces

[11:26] {geo} oh yeah... not that the canadians care...... I became a permanent US resident last week....

[11:26] {geo} is my timing off ?

[11:26] {dino}  welcome aboard geo

[11:26] {geo} TY

[11:26] {Threei}  no, it's prefect Geo, country needs more taxpayers

[11:26] {geo} lol

[11:27] {geo} oh i have been doing that since 99

[11:27] {cujo} Vad, hard to become Canadian citizen?

[11:27] {geo} now i can get it back too

[11:27] {Threei}  oh, then no one cares :)

[11:27] {geo} lol

[11:27] {Threei}  not really cujo

[11:27] {Threei}  for american I mean

[11:27] {geo} its easy cujo

[11:27] {geo} i got one in 1.5 years sitting in los angeles

[11:28] {geo} no interview nothing

[11:28] {geo} its just going to toronto for christmas scared me

[11:28] {cujo} really?  Interesting...

[11:28] {cujo} why scared you?

[11:28] {geo} not citizen ship thoug cujo... permanent residency....

[11:29] {geo} you gotta live there to be citizen

[11:29] {geo} -15 windchill

[11:29] {cujo} ouch

[11:29] {cujo} use to live in Nebraska... Same thing.  -40 at some points.

[11:29] {cujo} with the wind

[11:29] {geo} oh then youre fine :)

[11:30] {geo} beautifull city..

[11:30] {dino} same here cujo in pa

[11:30] {Threei}  I don't think market is going to stay that narrow for very long

[11:31] {nemo} well, at least Obama should move the market one irection or the other

[11:31] {magoo} beautiful girls in quebec

[11:31] {nemo} how can you tell during the winter

[11:31] {cujo} YES

[11:31] {geo} and down to earth too

[11:31] {magoo} yup

[11:31] {cujo} rode motorcycle to quebec city once.  Was nice

[11:31] {cujo} but you have to speak french or "no worky" as vad puts it...

[11:31] {geo} i thought that was vad in french

[11:33] {dino} we will all be speaking french soon as we move to their system

[11:34] {geo} comeon guys.... why so glum

[11:34] {nemo} graveyard humor

[11:34] {geo} no matter what happens... the entrepreneurs will survive

[11:34] {dino} indeed geo, it's friday, be happy

[11:34] {geo} (just make sure you have guns)

[11:35] {nemo} volume is through the roof on DOW and S&P

[11:35] {geo} riding SYK and VRTX small

[11:36] {geo} man healthcare..... AMED

[11:36] {magoo} '[11:34] {geo} (just make sure you have guns)

[11:37] {magoo} dont worry..thats next on the agenda

[11:37] {geo} crap

[11:37] {magoo} assault rifle ban already getting lip srvice

[11:38] {geo} was reading economist article on russia.... their markets down 80%

[11:38] {nemo} yeah, this time they're saying they need to reinstate it because of guns flowing to Mexico in the drug wars...please...the Mexican governement is the drug cartel

[11:38] {geo} accusing us of "infecting" them

[11:38] {nemo} when things are bad you focus on external enemies to unite the herd

[11:39] {magoo} ala hitler

[11:39] {geo} hmmm

[11:39] {geo} IBM

[11:39] {nemo} choose anybody...they all use the same techniques

[11:39] {geo} wonder why

[11:39] {Threei}  because it works?

[11:40] {Threei}  watched Wag the Dog?

[11:40] {nemo} why fix what ain't broke

[11:40] {geo} y

[11:40] {nemo} scary movie

[11:40] {geo} hey patience.... whats your outlook on gold?

[11:40] {geo} i have a spread on

[11:41] {geo} been doing option spreads more due to office hours issues

[11:42] {hawkfan4} watching V if market goes

[11:43] {_paliyad2009} look at glw

[11:43] {Threei}  spike out of nowhere

[11:43] {dino} sm l apol .00

[11:43] {magoo} ty HIG boss

[11:44] {magoo} reloaded your second call .07

[11:44] {Threei}  welcme

[11:44] {magoo} out .21

[11:44] {patience} hi geo, nice to see you back.  i'm invested and swinging gold, scalping on a good volume day

[11:44] {geo} nice

[11:46] {geo} hmm banking down  but CS rocking

[11:47] {Threei}  OK, let's assume this is a pullback before another spike

[11:48] {Threei}  looking to enter STT around .50, BAC around .50, HIG around .10

[11:51] {Threei}  pres is late

[11:51] {nemo} if no pull back stt above .75  HIG .25  BAC .65 on C&H?

[11:52] {Threei}  here is pullback

[11:52] {nemo} yep

[11:52] {Threei}  and no, breakouts is not a viable strategy for today so far

[11:53] {nemo} o.k. ty

[11:53] {nemo} duh, actually

[11:53] {Threei}  OK. STT is there, watch for market to bootom out and reverse

[11:53] {Threei}  .30 is nearest support

[11:55] {magoo} u tryingt to call a trsade i forced on u??

[11:55] {magoo} as i run for rock

[11:56] {Threei}  is it me or mahgoo is twice as tiresome today vs normal day? {G}

[11:56] {magoo} its u...im doing half as much

[11:56] {magoo} alot of vodka last nite boss?

[11:56] {nemo} tough day Vad

[11:57] {nemo} Magoo just makes it worse

[11:57] {magoo} glass houses nemo:)

[11:57] {geo} yup just the kind of day to make DLTR rise

[11:58] {nemo} yeah

06[11:58] * nemo slaps nemo around a bit with a large with a baseball bat for Magoo

[11:58] {magoo} ty

[11:58] {nemo} welcome

[11:59] {Threei}  HIG bottomed out at 6.12

[11:59] {cujo} got a piece of that STT

[11:59] {Threei}  wasn't easy to read at the moment

[11:59] {fernp} in HIG 6.14

[11:59] {Threei}  good timing fern

[12:00] {magoo} in stt .48

[12:00] {Threei}  BAC bottomed out at .51

[12:00] {magoo} bac.54

[12:00] {geo} in stt .49

[12:00] {Threei}  don't know how much room they all have, prez is coming on TV

[12:01] {Threei}  but enries are very safe

[12:01] {fernp} close HIG here at 1:1?

[12:01] {Threei}  and all are slighlty in the money, excpet HIG which is nicely in the money for its size

[12:01] {Threei}  fern... honestly, with another speech in minutes, who knows :)

[12:01] {Threei}  it doesn't have much to do with market

[12:01] {nemo} bird in hand...been a tough day

[12:02] {Threei}  but market developed reflex on prez appearances

[12:02] {geo} shoot missed .7

[12:02] {dino} lphi sm l .75

[12:03] {Threei}  this is the right way to time your entries on such day

[12:03] {Threei}  breaks would be doomed

[12:03] {fernp} out HIG +.11

[12:03] {fernp} ty Vad

[12:03] {Threei}  wqelcome :)

[12:03] {Threei}  pullback took all our stocks exactly into support zones

[12:04] {Threei}  anthem

[12:04] {Threei}  see market dropping

[12:04] {cujo} out stt =.11

[12:04] {cujo} +.11

[12:04] {nemo} what's anthem?  Rand?

[12:05] {nemo} markets basically even

[12:05] {magoo} out here .69 TY STT

[12:05] {Threei}  and here is president

[12:06] {geo} wow STT

[12:06] {Threei}  welcome mags

[12:06] {geo} exited early

[12:06] {magoo} out BAC 

[12:06] {magoo} afraid of pres

[12:06] {Threei}  welcome mags

[12:06] {magoo} nice and easy BOSS

06[12:06] * Threei slaps magoo around a bit with a large bottle of Valium

[12:07] {cujo} l GS .16

[12:07] {Threei}  market forms breakout pattern on 1 min

[12:07] {Threei}  do we trust it?

[12:07] {magoo} always goes down when he speaks

[12:08] {magoo} can change but thats pattern

[12:08] {Threei}  US PRES OBAMA: IRAQ NOT 'SECURE', ARE STILL DIFFICULT DAYS LEFT IN IRAQ

[12:08] {Threei}  - Formally announces plans to remove US troops from Iraq by 2011 (Note: Media reports earlier today issued forecast of 50K troops to remain in Iraq)

[12:08] {Threei}  - Notes combat mission in Iraq to end by Aug 2010

[12:10] {cujo} stpd GS -.20

[12:10] {magoo} man..can u imagine if during WW2 obama was pres..end WW2 by aug 1943..would have saved alot of lives

[12:10] {nemo} American's yes,  Russian no

[12:12] {geo} heheheh

[12:12] {geo} PSA and DLTR

[12:12] {geo} public storae and dollartree rising

[12:12] {geo} how apt

[12:12] {nemo} PSA will have to convert to a pawnshop at some point

[12:13] {geo} airlines mulling toilet toll

[12:14] {nemo} new uses for stomach distress bags coming

[12:14] {geo} ryanair hehehe

[12:14] {geo} lol

[12:14] {Threei}  look at UAUA

[12:14] {Threei}  what a disaster

[12:17] {Threei}  RIMM...

[12:17] {cujo} riim is a runner

[12:17] {Threei}  nice strength

[12:17] {cujo} rimm

[12:19] {Threei}  what the deuce?

[12:20] {cujo} i say

[12:20] {nemo} RIMM pullback?

[12:20] {Threei}  .50 is nearest support

[12:20] {Threei}  but with these sudden market moves, I am not sure

[12:20] {cujo} so... how's that rally you been working on....  got a compelling economic theory.

[12:21] {cujo} hmm

[12:21] {Threei}  huh?

[12:21] {cujo} sry

[12:21] {cujo} family guy

[12:21] {nemo} the tv show?

[12:21] {cujo} yeah

[12:21] {dino} stewieeeeee

[12:21] {cujo} yup

[12:22] {nemo} stewie and the dog

[12:22] {Threei}  GMAC NOTES THERE REMAINS "SUBSTANDIAL DOUBT" THAT MORTGAGE UNIT RESCAP CAN CONTINUE AS A GOING CONCERN

[12:22] {cujo} http://www.youtube.com/watch?v=cuUBgkdFMqs

[12:23] {Threei}  ah... good one

[12:23] {nemo} yeah, I remember that one

[12:23] {cujo} fav

[12:23] {Threei}  stewies rising pitch is priceless

[12:23] {cujo} yes, funny little man in little red overalls...

[12:24] {nemo} the eyebrows

[12:25] {nemo} hehehehe

[12:29] {Threei}  RIMM, .60 nearest support, worth long on market uptick

[12:29] {Threei}  also AAPL

[12:29] {Threei}  right here

[12:29] {cujo} long now or longif oulls back to .60?

[12:29] {Threei}  with stop under 90

[12:30] {cujo} got ya

[12:30] {Threei}  just safe entries near support on market pullbackl

[12:31] {Threei}  market resumes, they'll work

[12:31] {Threei}  if not, stops are very tight

[12:31] {dino} athn

[12:32] {Threei}  all we need now is customary market spike

[12:34] {Threei}  nope...

[12:34] {Threei}  wrong way

[12:35] {wulff} wulff emerges to see his shadow

[12:35] {Threei}  more winter??

[12:35] {nemo} thought that was the groundhog?

[12:35] {Threei}  it was nemo... before wulff ate him

[12:36] {nemo} ohhhhhhhhh

[12:36] {Threei}  prez is done

[12:36] {wulff} came out to check my ego

[12:37] {nemo} next support .50 on RIMM

[12:37] {nemo} ?

[12:37] {Threei}  won't hold

[12:37] {nemo} so much for that

[12:37] {Threei}  yeah

[12:37] {nemo} 30 maybe?

[12:38] {Threei}  market is selling off, wh6y guess?

[12:38] {Threei}  chart pattern got broken

[12:38] {Threei}  wait for new one to form

[12:38] {wulff} don't make me say it 

[12:39] {Threei}  AAPL, if dives sharply into 89 will be worth a try for bounce

[12:41] {Threei}  in

[12:41] {Threei}  stop under 89

[12:44] {Threei}  not liking this long pause

[12:46] {Threei}  either double bottom or breakdown and panic

[12:47] {buyemsellem} not sure if I've seen a real panic selloff yet.  I'm making some popcorn right now

[12:48] {Threei}  more looks like double bottom now

[12:48] {Threei}  AAPL needs to break .30 to make it worthwhile

[12:48] {nemo} big volume spike three minutes ago

[12:53] {Threei}  out AAPL.40

[12:54] {dawg} good call on AAPL Vad in .22 out 36 ty

[12:54] {Threei}  :)

[12:55] {Threei}  overall, empty day... slightly up, slightly down, slightly up again

[12:55] {cujo} predicition time...

[12:56] {Threei}  not sure how but it must be magoo's fault

[12:56] {buyemsellem} Are things tranquil, or is something crazy about to happen?

[12:56] {nemo} nah...my fault

[12:56] {cujo} djia -250

[12:56] {Threei}  tranquil for a while, IMO

[12:56] {Threei}  but closer to eod some action will develop

[12:57] {buyemsellem} that has certainly been the pattern the last few days, late day sell offs

[12:57] {Threei}  yeah

[12:57] {nemo} both AAPL and RIMM coming back to support...possible shorts?

[12:57] {Threei}  AAPL is good 30 cents from support

[12:58] {Threei}  can't tell really

[12:58] {Threei}  market needs to form something again for me to get a read

[12:58] {Threei}  right now it's a mess

[13:00] {wulff} AAPL to breakeven

[13:00] {Threei}  sold too soon

[13:00] {Threei}  wulff?

[13:00] {nemo} in this market..still the right strategy to scalp?

[13:01] {wulff} yes

[13:01] {Threei}  you mean you are holding it and trailing stop?

[13:01] {wulff} yep

[13:01] {wulff}  sell in 90 maybe

[13:01] {magoo} out aapl .77

[13:01] {magoo} ty boss

[13:01] {Threei}  nemo... look at intraday chart... whaddoyathink? :)

[13:01] {Threei}  welcome mags

[13:01] {Threei}  fern... this time they beat us

[13:02] {magoo} i win I WIN

06[13:02] * Threei slaps magoo around a bit with a large prescription for Prozac

[13:04] {Threei}  market chart today is a creation of 4 years old with crayon

[13:07] {nemo} Sorry, put it the wrong way...given meandering market one in hand vs. two in bush still best way to go, that's the question and what seems to make sense

[13:10] {Threei}  that's how I understood it

[13:10] {nemo} That's what I was trying to confirm...english bad.

[13:12] {Threei}  we are in holding pattern... neither side knows what to do

[13:12] {nemo} so, just skirmishes testing defenses

[13:13] {Threei}  two conflicting ways to view current action

[13:14] {Threei}  one:

[13:14] {Threei}  we conttinue getting endless strem of bad news,

[13:14] {Threei}  but market doesn't gointo state on oanic

[13:14] {Threei}  and actually holding not too bad considering the circumstances

[13:14] {Threei}  another:

[13:14] {wulff} +50 on sm AAPL

[13:15] {Threei}  with all the stimuluses, bailouts, rescues, injections, etc,

[13:15] {Threei}  market slowly but still slides

[13:15] {Threei}  latter bodes for rally in preparation,

[13:15] {Threei}  sorry, former

[13:16] {Threei}  latter bodes for capitulatory pnicky selloff

[13:16] {dino}  gj wulff

[13:16] {Threei}  I don't know where my preference is at this point

[13:17] {Threei}  kind of wait-and-see for me

[13:18] {Threei}  C looks AIGy... FNMy... FREyish

[13:19] {Threei}  and BAC looks like just delayed version of C

[13:23] {ese} have a great wekend all   see ya monday

[13:23] {Threei}  take care ese

[13:23] {ese} see ya vad

[13:23] {Threei}  US OFFICIAL: THERE ARE NO CURRENT PLANS TO ASSIST MORTGAGE FINANCING COMPANIES

[13:23] {Threei}  meaning, they are fine or we have no idea how to help them?

[13:23] {Threei}  or we gave up?

[13:24] {Threei}  pace increases

[13:24] {Threei}  although direction is not established yet

[13:24] {Threei}  kind of running nowhere very fast

[13:26] {Threei}  so,anyone has point of view on two alternatives I decsribed?

[13:26] {cujo} the mortgage question Vad?

[13:26] {Threei}  no

[13:26] {magoo} i crazy...but still think we get a bear mkt 'ally for a month to suck everyone in again

[13:26] {Threei}  previous one

[13:27] {dino} risky sm l deck .40

[13:27] {Threei}  on market in general

[13:27] {nemo} the listless slide would mirror the Depression.  A capitulation would at lesast set up for a snap back rally, but for how long?

[13:27] {_paliyad2009} beer market rally?

[13:27] {cujo} i think you have optimistic people buying thinking we are at support and we will bounce off

[13:27] {Threei}  careful paliyad... word "beer" gets magoo overexcited

[13:27] {nemo} beer or bear?

[13:27] {cujo} but i think they will be proven wrong

[13:27] {magoo} bear

[13:28] {Threei}  that's the question... bear rally or just bear

[13:28] {_paliyad2009} time for beer

[13:28] {dino} bbbbbbbbbbbeer

[13:28] {magoo} as in month up..giddy commentators..rush in buy buy

[13:28] {magoo} pow..back to this level

[13:28] {nemo} gotta' do it before sell in May

[13:28] {Threei}  see, this holding pattern can't continue for very l,ong

[13:28] {cujo} {cujo} djia -250

[13:29] {Threei}  either we rally hard or panic sets in

[13:29] {magoo} correct nemo

[13:29] {magoo} sometime in march...up we go..everyone thinx bottom s in

[13:30] {Threei}  I find myself capable of arguing both sides of the argument at this point and be very convincing, LOL

[13:30] {nemo} should we call you Janus?

[13:30] {magoo} but then pow..everyone quits

[13:30] {dino} i just don't know anymore

[13:31] {magoo} can we make good money regardless is the issue

[13:31] {dino} yes

[13:32] {nemo} need a little range though

[13:32] {Threei}  haven't we?

[13:32] {nemo} speaking about today

[13:32] {Threei}  today is finishing two weeks long winning streak

[13:32] {Threei}  today is not stellar, to be sure

[13:33] {nemo} yeah, no big deal...If you were a baseball player, they'd walk you every time you came to bat, even with no outs.

[13:33] {Threei}  GE

[13:33] {Threei}  CNBCS' FABER: CUTTING DIVIDEND TO $0.10 FROM $0.31

[13:33] {Threei}  - Designed to save $9B annually

[13:33] {nemo} How much did the get from the gov?

[13:33] {dino} and in jan. on the earnings, no dividend cut coming

[13:34] {magoo} i just wanna know how come ivana trump is single

[13:34] {magoo} ivanka

[13:34] {nemo} because she can afford gigolos

[13:34] {nemo} oh...lesbian?

[13:35] {dino} hot imo

[13:35] {magoo} she is drop dead gorgeous

[13:35] {nemo} yep

[13:35] {magoo} and rich

[13:35] {magoo} and smart

[13:35] {dino} most likely single because i am not

[13:35] {nemo} oh yeah, you let Larisa go off on vacation

[13:35] {magoo} magoo falls out of chair

[13:35] {dino} :-)

[13:35] {Threei}  see? market is confused even about this news

[13:36] {cujo} they say she graduated from wharton

[13:36] {cujo} but little known

[13:36] {cujo} she got wait listed

[13:36] {Threei}  can't decide how to evaluate it

[13:36] {cujo} didn't get in till daddy donated a lot of money

[13:37] {Threei}  brutal selling

[13:38] {dino} still hot

[13:39] {Threei}  withGE in dire straits... will CNBC survive?

[13:39] {nemo} that could be a blessing?

[13:39] {Threei}  lol

[13:39] {nemo} Hell, I don't watch it now

[13:42] {nemo} If FAS and FAZ were to stay true to form of late, they should close their gaps from yesterday's close, but that doesn't feel in the cards for some reason

[13:45] {Threei}  FED'S PLOSSER: EXPECTS INCREASES IN FED'S BALANCE SHEET, MUST HAVE CLEAR EXIT STRATEGY

[13:45] {Threei}  hmmm

[13:45] {Threei}  if Fed starts thinking of exit... what poor peasans to do

[13:46] {nemo} eat cake

[13:46] {dino} sm risky l athn .15

[13:47] {magoo} look at cnbc

[13:47] {magoo} they should cut half work force there

[13:47] {nemo} what's happening?

[13:47] {magoo} i bet each makes 100k salary

[13:47] {nemo} oh..anyway

[13:47] {dino} 250k i bet

[13:48] {nemo} they pay 8.25% to the city to start, or are the studios in NJ

[13:49] {magoo} they are so smug in this crash

[13:49] {magoo} let them feel it

[13:50] {Threei}  GE movement tells you the story

[13:50] {Threei}  meaning, market has no idea what to do

[13:50] {Threei}  news is out, look at the reaction

[13:50] {Threei}  40 cents up in a matter of seconds,

[13:50] {Threei}  70 cents down,

[13:51] {Threei}  60 cents up now

[13:51] {nemo} keep your hand out of the lawnmower

[13:54] {Threei}  MEXICO CENTRAL BANK INTERVENES IN FX MARKET TO OFFER USD TO DEALERS

[13:54] {Threei}  drug dealers?

[13:54] {buyemsellem} ha

[13:55] {buyemsellem} I don't think those dealers need any more USD, they have plenty

[13:58] {magoo} am i kere

[13:58] {Threei}  no

[13:58] {Threei}  GE... looks like verdict is coming

[13:58] {Threei}  and it's positive

[13:59] {Threei}  if pulls back under 9, wirth looking for pullback entry

[13:59] {Threei}  worth

[13:59] {Threei}  hasd potential of nice run

[14:00] {Threei}  don't call me crazy but it could be 9.50 - 9.75 area

[14:00] {Threei}  can't pinpoint entry really

[14:01] {nemo} full or half?

[14:01] {Threei}  FED'S ROSENGREN: ECONOMY TO SHRINK SIGNIFICANTLY IN 1H09; MUST SUPPORT FINANCIAL SECTOR; UNEMPLOYMENT LIKELY TO REACH THROUGH 8.5%

[14:01] {Threei}  as usual... depending on entry and how far it is from your stop

[14:02] {dino} sorry booted dsl down

[14:02] {Threei}  8.80 is strong support leve, 8.90 is interim

[14:02] {dino} anyway out deck .30, +.90, stop athn to .99

[14:02] {Threei}  nice

[14:03] {Threei}  8.97 in

[14:03] {dino} thx

[14:03] {Threei}  let's see if we get a runner

[14:03] {magoo} in 9

[14:03] {Threei}  RIMM

[14:03] {Threei}  AT&T NOTES IT HAS NO INTENT TO HALT SALES OF BLACKBERRY BOLD

[14:03] {Threei}  {T}

[14:04] {dino} hod's

[14:05] {magoo} take .17

[14:05] {Threei}  half out .15

[14:05] {magoo} drat as i typed

[14:05] {Threei}  stop .89

[14:05] {dino} athn slipped stopped .91, +.76

[14:06] {Threei}  I like GEs pace

[14:07] {Threei}  entry was nicely timed too... dropped right under 9 as told

[14:07] {Threei}  now,

[14:07] {Threei}  it's possible to just scalp it and be happy,

[14:08] {Threei}  what I am trying to do is to secure the profit and leave half to work, in order to see whether it can become a play that makes the day

[14:08] {cujo} if i missed initial, would you get in here?

[14:09] {Threei}  I think so

[14:11] {nemo} still in?

[14:11] {Threei}  yes

[14:11] {nemo} you moved stop?

[14:12] {Threei}  no... but will if it goes over 9 here

[14:12] {Threei}  to .84

[14:14] {dino} maniac markets, what was that spike

[14:14] {Threei}  losing steasm...

[14:14] {Threei}  steam

[14:15] {Threei}  come on, move your butt

[14:15] {Threei}  GE

[14:15] {Threei}  CONFIRMS CUT IN DIVIDEND TO $0.10

[14:16] {Threei}  duh

[14:16] {Threei}  market doesn't know what it wanted, confirmation or denial, lol

[14:16] {nemo} woulda' thought confirmation, so the opposite

[14:17] {Threei}  ok... .84 stop

[14:18] {nemo} hammer and tong at this level 

[14:19] {dino} ppt wearing out

[14:21] {Threei}  whatever

[14:21] {Threei}  out

[14:21] {magoo} that is why mkt blows

[14:21] {Threei}  no chance to catch that starry play today eh

[14:21] {magoo} that shoul;d have worked

[14:23] {Threei}  we gave it a chance

[14:23] {Threei}  could just as easily get nice 20 cents scalp

[14:23] {Threei}  I don't regret

[14:23] {nemo} been a consistent bird in hand day

[14:23] {magoo} good call..good setup

[14:24] {magoo} freakin mkt blows..what .20 tops but down 55

[14:24] {Threei}  - CEO: "We recognize the importance of the dividend to our shareholders and the significance of this decision, but we believe it is the right precautionary action at this time to further strengthen our Company for the long-term, while still providing an attractive dividend, continues to execute well and generate strong cash flow, even in this tough environment. We have achieved all of our capital and liquidity goals ahead of plan, including lower commercial paper, reduced leverage ratios and solid debt funding. Company has made tremendous progress in strengthening GEs balance sheet to ensure that the Company is well-capitalized and with access to ample liquidity"

[14:24] {nemo} whoa

[14:25] {Threei}  GE

[14:25] {Threei}  S&P AFFIRMS RATINGS IN LIGHT OF DIVIDEND CUT

[14:25] {Threei}  this tunrs into GE-day

[14:30] {Threei}  should have shorted .80 break and make up for the half stop, lol

[14:30] {dino} b.s. statement. they are worried about the tarp issue. must pay it off or govt will do a citi to them

[14:30] {magoo} yea..sell double on stop

[14:31] {dino} deck dropolla

[14:33] {Threei}  from the very beginning of all those bailouts there were dissenting voices saying: don't try to unclog bank lending pipes, lend directly to people and businesses,

[14:33] {Threei}  override banks,

[14:33] {Threei}  let them sort their mess out and get back in the game if and when they can

[14:33] {nemo} the banks were toast

[14:34] {Threei}  I wonder what would have happened if that path was chosen

[14:34] {nemo} ehhh...we'll never know

[14:36] {Threei}  main argument in favor is, it would be way cheaper and would have softened a blow to Main Street

[14:36] {Threei}  with credit flowing, we wouldn't have seen such a desctruction of the business

[14:36] {dino} it is all an accounting issue

[14:37] {magoo} STOP IT

[14:37] {dino} just because the market slows does not mean there is no value

[14:37] {nemo} Yes...for the short term...structural issues not only in finance/capital industry...but in economy globalization as well

[14:37] {magoo} this is a trading room u two

06[14:37] * Threei slaps magoo around a bit with a large Freedom of Speech ammendment

[14:37] {nemo} the "value" was as a result of debt...what we're finding out now is where the value really is

06[14:37] * dino slaps magoo around a bit with a large trout

[14:38] {nemo} us three

[14:38] {dino} slap him nemo

06[14:38] * nemo slaps magoo around a bit with a large with a copy of Das Kapital

[14:39] {nemo} gotta' remember how to use that thing

[14:39] {Threei}  FED'S ROSENGREN: FED LIQUIDITY FACILITIES USAGE HAS FALLEN DESPITE MARKET TURMOIL

[14:40] {Threei}  hmmm

[14:40] {Threei}  they are loaded to the gill?

[14:40] {nemo} that would make sense...

[14:42] {nemo} Boy that GE chart is neat

[14:42] {nemo} right up...right down

[14:44] {Threei}  SLM tests lows

[14:45] {Threei}  I wonder if this is not one of those shorts that just goes down day after day

[14:50] {magoo} STT read boss?

[14:50] {dino} sm l athn .05

[14:51] {Threei}  none mags

[14:51] {magoo} k

[14:51] {magoo} ge read here?

[14:51] {Threei}  sigh

[14:52] {magoo} not getting any prints on "sigh"

[14:52] {_paliyad2009} vad-bac in 4.00 out 4.06 10000 what is full and half lot thank

[14:53] {Threei}  depends on your risk tolerance

[14:53] {Threei}  calculate it this way:

[14:53] {Threei}  1. figure out how much you are willing to risk on any given trade

[14:53] {Threei}  2. find out the size of the stop

[14:54] {Threei}  derive amount of shares from that

[14:55] {_paliyad2009} thanks

[14:55] {Threei}  example:

[14:55] {Threei}  your risk toleraance is, let's say 250 bucks on a trade,

[14:55] {Threei}  you see a chart with trigger at 20, stop at 19.75

[14:56] {Threei}  that would give you 1000 shares

[14:56] {Threei}  now, if you have shart with trigger at 20 and stop at .90

[14:56] {Threei}  that gives you roughly 2000

[14:57] {Threei}  consider also possible slippage on thinner stocks

[14:57] {Threei}  mags, want low risk play?

[14:57] {Threei}  SLM

[14:57] {Threei}  .78 short

[14:57] {Threei}  stop above .85

[14:58] {magoo} wouldnt everybody want a low risk play? lol

[15:02] {dino} lol

[15:02] {Threei}  C

[15:02] {Threei}  S&P REVISES OUTLOOK TO NEGATIVE; DOWNGRADES HYBRIDS

[15:02] {Threei}  US government: thank you for this

06[15:03] * Threei hits SLM over the head with 2x4

[15:03] {Threei}  violence time

[15:03] {Threei}  nemo, help

[15:03] {nemo} I don't know if it's me the market or both, but it feels tired

[15:03] {nemo} o.k.

06[15:04] * Threei shows SLM 2x4 with rusty nails

[15:04] {nemo} Breakin' out the AK

06[15:04] * nemo empties a clip into slm

06[15:05] * nemo prepares broomstick handle

[15:05] {Threei}  sharp market drop is coming, feels like

[15:05] {nemo} wow...that was easy

[15:05] {dino} gtiv blood

[15:07] {nemo} I've got a good torture if we need it

[15:08] {Threei}  here is my dropif I am right about drop coming, FAZ is going to 63 and over

[15:08] {Threei}  ummm

[15:08] {Threei}  letme try again

[15:08] {dino} too soon

[15:08] {Threei}  if I am right about drop coming, FAZ is going to 63 and over

[15:09] {dino} your drop call is too soon imo, been happening around 3:30

[15:09] {Threei}  can't nail an entry on it with precision

[15:09] {dino} sometimes i expect too much of you

[15:10] {Threei}  sorry to disappoint

[15:10] {dino} :)

[15:10] {nemo} As I said...he'd be walked as a baseball player

[15:10] {Threei}  here is my drop

[15:10] {magoo} nice vad

[15:10] {Threei}  here is 63

[15:10] {nemo} FAS about to break resistance

[15:10] {magoo} FAZ in .40 out .75

[15:10] {dino} i am wrong it seems

[15:11] {Threei}  {--- expects full blown apology from dino

[15:11] {dino} darn patterns aren't working

[15:11] {nemo} must he prostrate himself?

[15:11] {Threei}  come on SLM, die

[15:11] {Threei}  oh, and here is "over" for FAZ

[15:12] {dino} stopped athn .65, -.40

06[15:12] * dino slaps &Threei around a bit with a large trout

[15:12] {Threei}  lol... hows that for apology

[15:12] {nemo} frankly...quite congruent for this place

[15:12] {Threei}  true

[15:12] {magoo} i'd like to apoligize

[15:13] {Threei}  uh oh

06[15:13] * magoo slaps Threei around a bit with a large trout

[15:13] {dino} by all means

[15:13] {Threei}  yeah, I knew that was coming

[15:13] {Threei}  and I walked right into it

[15:14] {Threei}  GE

[15:14] {Threei}  MOODY'S COMMENTS ON DIVIDEND CUT; RATINGS REMAIN ON REVIEW FOR POSSIBLE DOWNGRADE

[15:14] {Threei}  - Notes review has no impact on FDIC-guaranteed debt issued by GE capital which remains AAA

[15:14] {nemo} the cat must like it

[15:17] {nemo} slm doesn't want to keel over

[15:18] {Threei}  another wave of selling in development

[15:18] {magoo} just hit faz rd 2..

[15:18] {dino} good call 3rdi

[15:19] {Threei}  hmmm... and no slap with that?? out of character, dino...

[15:19] {Threei}  but thank you :)

[15:19] {Threei}  SLM gave over 1:1

[15:19] {nemo} keeps you off balance

[15:19] {Threei}  most likely not over

[15:20] {nemo} I mean the "thank you"

[15:20] {dino} lol

06[15:20] * magoo slaps Threei around a bit with a large trout

[15:20] {Threei}  lol

[15:20] {Threei}  isn't it disturbing that I feel right at home with all the abuse flying around

[15:20] {Threei}  good boy SLM

[15:20] {Threei}  covered half

[15:20] {Threei}  .66

[15:21] {Threei}  stop .81

[15:21] {Threei}  see mags? nice and easy

[15:21] {Threei}  risk lousy 8 cxents

[15:21] {dino} tough luv 3i

[15:22] {Threei}  Canadaians rejoice

[15:22] {Threei}  (CA) CANADIAN FIN MIN FLAHERTY: CANADIAN ECONOMY TO REPORT 'SUBSTANTIAL' DECLINE IN Q4 GDP

[15:24] {Threei}  hey, someone said -250 for the day earlier

[15:24] {dino} last two months, no markups

[15:24] {Threei}  who was it? fess up so I don't have to scroll

[15:24] {buyemsellem} cujo

[15:24] {cujo} that was me

[15:24] {fernp} When was your entry in SLM Vad? When lost 4.72?

[15:24] {dino} went sept-dec big markups no more

[15:24] {Threei}  [14:57] {Threei} SLM

[15:24] {Threei}  [14:57] {Threei} .78 short

[15:24] {Threei}  [14:57] {Threei} stop above .85

[15:24] {cujo} still 30 min left in the day :)

[15:25] {Threei}  I like the call cujo

[15:25] {dino} athn sm l .05 last time

[15:25] {cujo} thanks.  I'm a bear at heart.  At least till there is some actual good news to think otherwise.

[15:26] {Threei}  well, concern for bears right now is,

[15:26] {Threei}  when these guys lose all hopes and realize they have no ammo left,

[15:26] {Threei}  they'll use last resort

[15:26] {Threei}  m2m

[15:26] {Threei}  ad that could explode market like there is no tomorrow

[15:26] {dino} and i'm a dinosaur

[15:27] {cujo} yeah

[15:27] {cujo} glad i'm not holding anything long term right now

[15:27] {cujo} market too crazy

[15:27] {Threei}  with their manner to announce this kind of things, no way to tell when and in what way it happens

[15:27] {dino} its inevitible m2m, but they will waste a trillion or two first

[15:27] {Threei}  so risk to get caught is big

[15:27] {Threei}  yeah dino

[15:27] {dino} because they don't want to admit they were wrong

[15:28] {fernp} what is m2m, pls?

[15:28] {Threei}  quite possible that this market hesitance is caused by exactly this fear

[15:28] {Threei}  shorts don't want to overcommit

[15:28] {dino} mark to market fas acct. change last spring

[15:28] {Threei}  risking to be caught off guard

[15:28] {Threei}  and longs can't commit not knowing when it may happen

[15:29] {dino} used to carry at cost and if performing ok

[15:30] {dptl} have a good evening all

[15:30] {Threei}  take care dp

[15:30] {dino} cya dp

[15:31] {magoo} bye dp

[15:31] {Threei}  Ron Paul coming on CNN

[15:31] {dino} bartiroma talking shorts. the end of baer is near

[15:31] {Threei}  uh oh

[15:31] {dino} bear

[15:31] {Threei}  that's a good indicator

[15:31] {Threei}  marked the start of bull market in 2003

[15:31] {dino} ]july '03 she did the same

[15:33] {Threei}  what I don't get is:

[15:33] {Threei}  who installed M2M last spring?

[15:33] {Threei}  it's wasn't this administration

[15:33] {dino} accounting committee after enron 

[15:34] {Threei}  so why wouldn't they cull it as a spirit of change?

[15:34] {dino} cull?

[15:34] {Threei}  kill

[15:34] {Threei}  strangle

[15:34] {Threei}  suffoate

[15:34] {Threei}  smother

[15:35] {magoo} u called??

[15:35] {dino} ohh, because they don't want to admit they were wrong. politicians supported the change

[15:35] {Threei}  SLM

[15:35] {Threei}  MOODY'S REVIEWS RATINGS FOR POSSIBLE DOWNGRADE

[15:35] {Threei}  here is Ron Paul

[15:36] {magoo} whos that?

[15:36] {nemo} The only politician who knows what's going on

[15:36] {Threei}  and understands finance

[15:36] {nemo} doctor too

[15:37] {cosmo} over 4000 babies served

[15:37] {dino} served, lol

[15:37] {nemo} A Modest Proposal

[15:38] {magoo} so up down or dead herre into BELL??

[15:38] {cujo} DOWN DOWN DOWn

[15:39] {dino} mant sm l .30

[15:39] {Threei}  down... but probably not as dramartic as cujo says

[15:39] {magoo} i need 100 more

[15:39] {magoo} vad..get me it palease

[15:40] {dino} ppt end of month

[15:40] {dino} obama says open the gates

[15:41] {magoo} he doesnt care about mkt

[15:41] {magoo} he wants it 60000

[15:41] {magoo} 6000

[15:41] {Threei}  why?

[15:41] {Threei}  to get sacked even before the next election?

[15:41] {magoo} he doesnt understand

[15:42] {Threei}  that's different matter... but why would he want market down

[15:42] {magoo} short term here and now

[15:42] {dino} nobody told him pensions are stocks

[15:42] {magoo} so it looks better for him if it improves later in term

[15:43] {Threei}  I doubt that the logic

[15:43] {magoo} right now he says he inherited mess..will fix it

[15:43] {cosmo} ok, so he's in cash....

[15:43] {Threei}  if they could do anything about the market, they wouldn't allow this relentless selloff

[15:43] {magoo} hes short

[15:43] {Threei}  lol cos

[15:43] {dino} punish the speculators, he says it every day

[15:45] {dino} athn stopped done w/it

[15:55] {Threei}  positive day but tiring

[15:55] {Threei}  and struggle

[15:55] {nemo} p&q

[15:55] {nemo} have nice weekend

[15:55] {Threei}  okay guys... ending two weeks of no single losing day

[15:56] {Threei}  not too bad in this market

[15:56] {Threei}  thank you all,

[15:56] {Threei}  have a good weekend

[15:56] {Threei}  see you on Monday

[15:56] {dino}  out lphi .10, +.35 all day

[15:57] {Threei}  wow

[15:57] {Threei}  look at BAC's eod

[15:58] {dino} out mant .34, +.04

[15:59] {dino} using tarp to re-engineer society

[15:59] {Threei}  I hate all kinds of social engineering

[15:59] {fernp} have a nice weekend. see you on monday

[15:59] {Threei}  the very idea of a few guys sitting in the room and re-making economy and society...

[15:59] {Threei}  fern :)

[16:00] {dino} no checks and balances, dems control entire govt

[16:00] {magoo} ty vad

[16:00] {Threei}  mags :)

[16:00] {Threei}  well... midterm election is 2010?

[16:01] {Threei}  hopefully common sense is back till then

[16:03] {dino} ok thx all, decent week

[16:07] {vint} bye all, thanks Vad for taking us through volatile day