Mar 04 2009

Nice and strong day. Longs on STT, CAT (yes, that's right, CAT, after two weeks of shorting it daily), RIMM, AAPL worked nicely. A few stops of 10-15 cents magnitude could spoil the day with gainst up to 50 cents.

 

Session Time: Wed Mar 04 00:00:00 2009

[07:56] {magoo} morning

[07:57] {Threei}  Good morning

[07:57] {magoo} hi boss

[07:57] {fernp} morning all

[07:57] {Threei}  magoo, fern :)

[07:58] {magoo} vad, any recent news goog?

[08:00] {Threei}  03/04/09 06:04am

[08:00] {Threei}  [GOOG] Google Inc Price Target lowered to $420 from $440 at BofA/Merrill Lynch, maintains Buy rating

[08:00] {Threei}  - Firm discloses: it is becoming increasingly unlikely that Google will see a positive stabilization in the business in 1H09.

[08:00] {Threei}  - Firm discloses: While we think pressure is macro driven and that Google will have better EPS resiliency than the sector as a whole, our 09 EPS outlook was too optimistic. We are lowering 1Q to -6% sequential revenue growth from -2%, and 1Q adj. EPS to $4.77 from $5.08. We are lowering 2009E y/y revenue growth to 5% from 9%, and EPS by 4% to $20.35 from $21.25 (street at $21.07).

[08:07] {nemo} Hi Folks

[08:07] {Threei}  morning nemo

[08:10] {nemo} Anybody having trouble logging into LASER?

[08:11] {Threei}  ok here

[08:13] {magoo} i got right in

[08:13] {magoo} try a reboot

[08:15] {magoo} slighly worse job numbers

[08:19] {nemo} I defragged the RAM, that did it.

[08:21] {Threei}  FED'S HOENING: FED MUST REVERSE LOOSE MONETARY POLCY IN A TIMELY FASHION TO AVOID INFLATION, INFLATION SHOULD BE THE FOCUS OF FED POLICY AND NOT DEFLATION

[08:21] {Threei}  - Notes that the Fed must tighten its monetary policy 'well before' the economy has recovered

[08:22] {Threei}  sheesh.. will they agree on something finally

[08:22] {Threei}  FEB ADP EMPLOYMENT CHANGE: -697K V -630KE (LOWEST READING ON RECORD)

[08:22] {Threei}  - Prior month revised Lower from -522K to -614K

[08:23] {cosmo} just let the people refinance their loans ....geez

[08:24] {nemo} Moral hazard dude...you let them refinance on an asset that is worth less than the loan, they're likely to walk away

[08:24] {cosmo} not all

[08:25] {Threei}  not sure I get the logic...

[08:25] {cosmo} some would see the opportunity

[08:25] {cosmo} ... in time

[08:25] {Threei}  you don't let them refinance, they will HAVE to walk away

[08:25] {Threei}  you let the refinance, some will stay

[08:25] {nemo} It's the same with AIG, you just keep pouring debt, not money, down a rathole

[08:25] {Threei}  those who are not badly underwater

[08:26] {cosmo} others would be able to hold onto tenents that can't pay rent....that kinda thing...

[08:26] {nemo} What %, you still have to deal with the New Debt of all those who do leave after refinancing.  Already, over 60% of recently refinanced distressed mortgages are either in arrears or default

[08:27] {nemo} then you have to write that debt off again.  So, you write off the old debt, create new debt, and have to write it off again, all the while increasing the debt default pile

[08:27] {cosmo} it was a ponzie skeem, ya know

[08:28] {nemo} The financial system is a ponzie scheme

[08:28] {Threei}  well, by refinancing you simply rolling the debt over, not create new, right? While by refusing to refinance you force out those who can and intend to pay

[08:29] {nemo} Yes, but what you do is continue the illness by infecting new paper with it

[08:29] {nemo} I'm not saying what to do, I'm just saying the pathology will continue

[08:29] {cosmo} yea ... cut the interest in half on all those fictitious dollars... it'll work out

[08:30] {cosmo} in time

[08:31] {nemo} Yes, but you have to have the ability to continue financing debt

[08:31] {cosmo} and we learn that the hard way.... one more time

[08:32] {nemo} We never learn...that's what makes us human

[08:32] {cosmo} that's what makes us eternal....but....i need coffee

[08:33] {Threei}  [UAUA] UAL Corp Reports Feb load factor 73.2% v 74.2% y/y v 75.2% m/m

[08:33] {Threei}  - RPMs: -15.2% y/y, -11% m/m

[08:33] {Threei}  - ASM: -14% y/y, -8.2% m/m

[08:37] {Threei}  REPORTEDLY OPEC PRESIDENT NOTES HE OPPOSES ADDITIONAL SUPPLY CUT AT THE MOMENT; OTHER MEMBERS UNDECIDED

[08:38] {nemo} That would be putting fuel on the fire, or stepping on the head of a drowning man

[08:41] {Threei}  supply cut you mean?

[08:41] {nemo} yes sir

[08:42] {Threei}  well... as long as cuts are within excess of demand, they are mostly irrelevant... question is whethere they dare to start cutting beyond that

[08:43] {Threei}  that would require serious cooperation between them... something they are not famous for

[08:44] {nemo} I posit that it's at whatever level it begins to affect the futures, which is the basis on which we pay...I agree, they're getting to the "throw the women and children overboard, every man for himself, stage."  

[08:50] {dino} gm all

[08:50] {Threei}  dino :)

[08:51] {dino} :)

[08:51] {pita} gm everyone, is it a new day?

[08:51] {Threei}  ummm... looks like

[08:53] {dino} indeed pita

[08:53] {dino} i have been off w/gut calls lately, so lets call for -250 today and see what happens

[08:54] {cosmo} babies ....bathwater...everywhere.....now if PALM closes green today ...there might be some hope

[08:54] {Onix} gm all

[08:54] {Threei}  onix :)

[08:54] {Threei}  PALM posted nasty guidance yesterday after hours

[08:54] {cosmo} perfect

[08:54] {cosmo} classic

[08:55] {Threei}  [16:30] {Threei} REPORTS PRELIM Q3 R$85-90M V $158ME

[08:55] {Threei}  [16:32] {Threei} - The revenue declines vs. the companys Q2r of fiscal year 2009 and Q3 of fiscal year 2008 are the result of reduced demand for Palms maturing legacy smartphone products, the challenging economic environment and later-than-expected shipments of the Treo Pro in the United States.

[08:55] {Threei}  [16:32] {Threei} - The company expects declining revenues and continued margin pressure from its legacy product lines in the fiscal Q4

[08:55] {Threei}  let me point UAUA once again as day trade candidate for the strong day

[08:55] {dino} took aapl and rimm down w/it afterhours, but they are now up. perhaps palm specific

[08:55] {Threei}  day trade as opposite to scalp

[08:56] {cosmo} hmmm.... at least its possible

[08:57] {dino} uaua traffic fell 15% feb. fwiw

[08:57] {Threei}  yeah, I posted earlier

[08:58] {dino} ok, sorry

[08:58] {cujo} morning all

[09:00] {geo} good morning

[09:00] {Threei}  cujo, geo :)

[09:01] {cujo} Something going on with HIG

[09:01] {cujo} up 14%?

[09:01] {Threei}  03/03/09 11:50pm

[09:01] {Threei}  [HIG] The Hartford Financial Services Group Inc Reportedly, may divest most of its loss making life unit; had separate discussions with Metlife which ended in Feb

[09:01] {Threei}  - May seek to sell life unit to Canada's Sun Life.

[09:01] {dptl} good morning all

[09:01] {Threei}  dp :)

[09:01] {cujo} ah

[09:03] {cosmo} it's loss making life....sheesh

[09:07] {ese} morning

[09:07] {Threei}  ese :)

[09:08] {cosmo} CAT comes back from the dead ...one more time

[09:08] {ese} hey ya vad

[09:09] {Threei}  DRYS strong bounce

[09:09] {nemo} bilge pumps must be working

[09:10] {magoo} keep eye on RIMM..was strong in poor mkt..if mkt ally today could go

[09:10] {nemo} Mags...Larisa's not here

[09:11] {Threei}  RIMM gap is too big, need pullback or consolidation

[09:14] {nemo} HIG big jump this mornin'

[09:14] {magoo} lets kewep open mind to short FAZ if it pops back up..and mkt decides to run

[09:14] {magoo} like 100 shares for 8 points

[09:14] {Threei}  you can't short FAZ

[09:14] {cujo} you can buy GAS

[09:14] {magoo} SIGH

[09:14] {cujo} FAS

[09:15] {nemo} FAZ looks like it might jump at open

[09:15] {magoo} well fas doesnt move 

[09:15] {pita} FAS popped big yesterday only to sell off all day

[09:15] {dino}   lucked out on fdo afterhours, out +1.00

[09:15] {nemo} FAS moves, just have to play enough shares

[09:16] {magoo} as in how mucjh?

[09:16] {Threei}  US TREASURY: SERVICERS CAN BEGIN MODIFYING MORTGAGES IMMEDIATELY

[09:16] {magoo} movemt i mean?

[09:16] {nemo} It's jumpe 7% this morning

[09:16] {magoo} nah..i mean pointts}?

[09:17] {Threei}  mags... let's do the math

[09:17] {nemo} heheheheheh

[09:17] {Threei}  100 shares for 8 points as you target on FAZ is 800 bucks

[09:18] {Threei}  FAS can move 20 cents easily and just as quickly when it moves, right?

[09:19] {magoo} um...carry the two..plus 1 =?

[09:19] {nemo} By 2000 shares of FAS mags

[09:19] {magoo} in this decent to hell..my parameters are set up to max shares of 1k

[09:20] {magoo} so not buying 2k

[09:20] {cosmo} PALM pre mkt high = 7.04   ....should hold 6.90

[09:20] {nemo} well, think about this, you buy 100 shares FAZ for 7200, 1000 shares of FAS for 4100-change parameters

[09:21] {nemo} Vad can answer this more confidently, but if it's about managing the risk, it almost doesn't matter how many shares you buy as long as you maintain your stops

[09:22] {ese} correct

[09:22] {magoo} true

[09:23] {magoo} but mkts been spikey..so a 30 cent drop on 2k =600...

[09:23] {magoo} harder to control in this environmt is all saying

[09:24] {pita} Vad, watch list?

[09:25] {cosmo} PALM looks testy

[09:25] {nemo} I agree...but it's about probabilities of maintaining support and resistance.  FAZ will range about $1, so if you risk $300 a trade, you can buy 300 shares.  FAS ranges about $.15, so that's 2000 shares to risk $300...Are my calculations wrong Vad?

[09:26] {Threei}  UAUA, DRYS, HIG, STT, RIMM

[09:27] {wulff} I have no time to trade today, but wanted to say have a better day. 

[09:27] {nemo} full moon wulff?

[09:27] {wulff} full job

[09:28] {Threei}  ty weulff

[09:28] {wulff} am long FAS

[09:28] {vint} good morning all

[09:28] {Threei}  vint :)

[09:29] {dino} ty wulff

[09:29] {cosmo} open breaks maybe

[09:30] {ese} egle following DRYS

[09:31] {elepet} Good morning all.

[09:31] {Threei}  elepet :)

[09:32] {Threei} Long Setup:  STT  .25 if stays above 22

[09:32] {Threei}  half lot

[09:33] {Threei}  CEDC

[09:33] {Threei}  HEARING SHARES RAISED TO OUTPERFORM AT AVONDALE, PRICE TARGET $12 (TIMING UNCERTAIN)

[09:33] {Threei}  - likely pre-open

[09:34] {cujo} in

[09:34] {nemo} blew right by

[09:34] {magoo} in

[09:34] {magoo} ,26

[09:34] {ese} MANT dino?

[09:34] {dino} still in from yesterday

[09:34] {Onix} missed

[09:34] {dino} cedc

[09:35] {Threei}  over 1:1, half out

[09:35] {Threei}  scalpers know what to do

[09:35] {dino} feels little different today, more power

[09:35] {Threei}  true

[09:36] {dino} mcd lags

[09:36] {dino} wmt too

[09:37] {Threei}  UAUA... just had to believe

[09:37] {Threei}  over 1:2 STT

[09:37] {Threei}  full out

[09:37] {dino} vz .00 trig l sm

[09:38] {Threei}  +.50

[09:38] {magoo} out .77 TY VAD

[09:38] {Threei}  welcome

[09:38] {cujo} thanks Vad. 

[09:38] {Threei}  :)

[09:38] {buyemsellem} nice call

[09:38] {Threei}  UAUAstrong pullback

[09:39] {geo} all energy stocks ripping

[09:39] {pita} entry UAUA?

[09:39] {Threei}  impossibvle to call in time, sorry

[09:39] {cujo} thanks Vad

[09:39] {cujo} got some UAUA

[09:39] {pita} too wild

[09:39] {Threei}  got .40, sold .63

[09:39] {cujo} .55 out .69

[09:40] {Threei}  good reflexes

[09:40] {Threei}  see, if teleprts in 4.20 area for another scalp

[09:41] {dino} apol, esi

[09:41] {dino} sm l apol .00 risky

[09:42] {ese} L 200 MANT .39

[09:42] {Threei}  STT did the same, pulled right into trigger and bounced... missed that

[09:42] {dino} apol stop to .49

[09:42] {magoo} yeah..big pullbk

[09:42] {cujo} nice trade dino

[09:43] {dino} out +.43 slip

[09:43] {dino} ty

[09:43] {dino} jumpy sucker

[09:43] {Threei}  if UAUA dives from here, let it overstretch

[09:44] {Threei}  desirably into 4 area

[09:44] {elepet} question. still jetlagged and reflexes slow.  i missed original stt. if it goes back to original trigger do i buy?

[09:44] {Threei}  no, not anymore

[09:44] {Threei}  it made lower high so far

[09:46] {cujo} HIG pullback?

[09:46] {Threei}  getting interesting

[09:46] {ese} out mant .80

[09:46] {ese} +.41

[09:47] {Threei}  not ready yet

[09:47] {dino} gj

[09:47] {ese} tks dino

[09:47] {cujo} nice trade ese

[09:48] {Threei}  not sure on entry on HIG

[09:48] {dino} re-load es?

[09:48] {Threei}  kind of hectic here

[09:48] {cujo} yes

[09:48] {dino} -15 points in 4 days

[09:51] {cujo} HIG held up well vs mkt downtick here

[09:51] {dino} opening gaps 

[09:51] {pita} STT?

[09:51] {Threei}  let it drop more

[09:51] {pita} diving

[09:51] {nemo} yeah, might have another .60 down

[09:52] {nemo} HIG that is

[09:53] {Threei}  HIG is on watch for double bottom here

[09:54] {Threei}  if market resumes up, the play is most likely to look like .76 long with stop under .65

[09:54] {Threei}  ugh... late

[09:54] {Threei}  don't chase

[09:54] {geo} in .75

[09:54] {Threei}  :)

[09:55] {Threei}  now next market move will define its destiny

[09:55] {magoo} .75 here

[09:56] {magoo} more than a scalp vad?

[09:56] {magoo} over 5 i mean

[09:56] {Threei}  if goes as planned, likely to spike into 5

[09:57] {geo} had sell on .85... didnt get hit

[09:58] {Threei}  yeah, it barely touched it

[09:58] {geo} out

[09:58] {geo}  wy

[09:58] {geo} oops

[09:59] {Threei}  GE, what a collapse

[09:59] {dino} pattern has been fill the open gaps fwiw

[09:59] {magoo} STT vads..u following'

[10:00] {geo} DJ reports GE Capital credit default swaps continue to deteriorate into levels usually seen for distressed companies.

[10:00] {Threei}  yeah but I don't see a play on it here

[10:00] {cosmo} CAT nice bounce

[10:00] {Threei}  FED'S FISHER: HOLD THE MOST 'PESSIMISTIC' OUTLOOK AMONG OTHER FOMC MEMBERS; MAY HAVE TWO YEARS OF BAD GROWTH BACK TO BACK

[10:00] {Threei}  FEB ISM NON-MANUFACTURING COMPOSITE: 41.6 V 41.0E

[10:03] {dino} think we already had 2 years bad growth

[10:07] {Threei} Long Setup:  GE  .41 if stays above .30

[10:08] {cujo} invalid?

[10:08] {Threei}  if market spikes, I'd modify it

[10:08] {Threei}  .31 long with stop under .20

[10:09] {Threei}  if loses .20, leave it be for a steep selloff

[10:13] {ese} up beat market mood declining to pessimisim like yesterday

[10:13] {Threei}  CAT sharp dive into 24 - 24.20 zone will be interesting for a bounce scalp

[10:15] {nemo} Interesting....I had a subscription to a Chinese Investment newsletter...I keep track of the portfolio...Every stock in that portfolio has been in the green for the last two days

[10:17] {dino} ge 5s

[10:17] {nemo} HIG spiked down to the gap

[10:18] {nemo} When's the prez speak today?

[10:18] {Threei} Long Setup:  CAT  .12 if stays above 24

[10:18] {nemo} missed

[10:19] {elepet} in .12

[10:20] {dino} fas 52 week low

[10:21] {geo} out half .25

[10:21] {Threei}  half out .25

[10:21] {Threei}  Prez on TV

[10:21] {geo} crap

[10:21] {Threei}  your daily dose

[10:21] {geo} that dude needs to end his love affair with the tube

[10:21] {nemo} like my prediction

[10:22] {fernp} ty Vad

[10:22] {Threei}  fern :)

[10:22] {geo} out

[10:22] {geo} TY vad

[10:22] {Threei}  full out?

[10:22] {geo} yeah.... protecting morning gains

[10:22] {geo} and loose lips on tv again

[10:22] {dino} [09:59] {dino} pattern has been fill the open gaps fwiw

[10:23] {Threei}  come on... thing can go to to .40 - .50 zone in one blink, why not leave just 1/4

[10:23] {geo} booohooohoo

06[10:23] * geo whips himself

[10:25] {dino} cracks me up, jack welsch ge hero, when he was there when this crap got put on books

[10:25] {Threei}  out 1/4 more .39

[10:25] {dino} got out when getting was good

[10:25] {dptl} out cat ty....something ++ not counting

[10:25] {Threei}  out in full .46

[10:25] {geo} we can say the same for rubin weil oneal

[10:25] {Threei}  dp :)

[10:26] {geo} sigh vad.....

[10:26] {geo} happy fingers

[10:27] {dptl} did 5 cat trades today......5 out of 5 :)

[10:27] {dino} ge pushing skf up

[10:27] {Threei}  what can I say... if we started making money in CAT on a LONG side...

06[10:27] * Threei slaps dptl around a bit with a large roll of cash

[10:27] {dino} gj dp

[10:27] {dptl} :) ty

[10:27] {Threei}  24.20 breakout in the morning is my burning shame

[10:27] {geo} hmm

[10:27] {geo} kinda obvious in hindsight

[10:27] {cosmo} looks like CAT is not a defence contractor after all

[10:27] {geo} tch tch

[10:28] {buyemsellem} thanks vad on the cat great call

[10:28] {dptl} thats what i got in the morn 24.20 Vad

[10:28] {Threei}  buyem :)

[10:28] {Threei}  well... I am ashamed I missed that but proud I taught you well {G}

[10:28] {dptl} yes you did :)

[10:29] {Threei}  PIMCO'S WILLIAM GROSS: SPEAKS ON MOVEMENT OF GE SHARES -CNBC

[10:29] {Threei}  - States that market has priced in a downgrade of ratings from AAA, this cut would force certain institutional holders (including sov wealth funds) to limit their exposure

[10:29] {Threei}  - Selling remains forced and techincal

[10:29] {Threei}  - Reiterates that GE is not 'another AIG'

[10:29] {Threei}  now, when you start sharing this kind of things, I can retire, lol

[10:29] {cosmo} but it does defense work

[10:29] {cosmo} ge that is

[10:29] {geo} umm dptl... dont share

[10:30] {Threei}  GE

[10:30] {Threei}  CAPITAL RAISE SPECULATION

[10:30] {Threei}  DENIES CAPITAL RAISE AS "SPECULATION"

[10:30] {dino} dltr sm l .30

[10:34] {dino} yes cosmo, but defense is not a growth industry under obamination

[10:34] {dino} needs to split in two

[10:34] {cosmo} hmmm

[10:35] {Threei}  I wonder if anything is

[10:36] {Threei}  call me simpleton, but here is the way I see it

[10:36] {cosmo} not at first...

[10:36] {Threei}  you raise taxes on things you render undesurable and as a result you get less of those things

[10:36] {Threei}  you subsidize things you want and as a result you get more of those

[10:36] {Threei}  so

[10:37] {Threei}  during the worst market in decades we raise capital taxes

[10:37] {Threei}  during worst job market in decades we raise taxes on people who create 75% of jobs

[10:37] {cujo} yeah, doesn't seem like sound reasoning

[10:37] {Threei}  and during the worst mnaufacting/cnsumer market in decades we plan to impose artifically raised price on energy

[10:38] {cosmo} also, unused farmland rings a bell 

[10:38] {Threei}  and we are showering money of failing companies and industries

[10:38] {Threei}  whatever reasoning is behind this, the result will be the same

[10:38] {cosmo} just to keep them on overhead....sigh

[10:39] {dino} dna sm l .05

[10:39] {Threei}  you can't overrule narture laws

[10:39] {Threei}  and stimulation or suppressing of certain behavior by the means of taxation will work by those laws

[10:40] {Threei}  so... forgive me for not being convinced

[10:41] {Threei}  ok... little pullback, then next leg up

[10:41] {cosmo} have unused ag land grow hemp i say

[10:41] {Threei}  watch RIMM for pullback into .70 area

[10:41] {Threei}  for long entry

[10:42] {Threei}  CAT seriously overshot our exit area

[10:42] {Threei}  ohg well

[10:43] {Threei}  we got a good move out of it, I am not ready to hold for hours just yet

[10:44] {Threei}  quite shallow pullback RIMM

[10:44] {Threei}  I would still prefer pullback over break, but if market spikes...

[10:44] {Threei}  .85 closest support so far for a stop placement

[10:45] {Threei}  with 40 break being obvious trigger

[10:45] {Threei}  (US) TREASURY SEC GEITHNER: REMAINS OPEN TO OTHER METHODS TO REFORM HEALTH CARE

[10:45] {Threei}  yeah, that's your first priority right now timmy

[10:46] {cosmo} fill up that "B ship" maybe

[10:47] {dino} wow apol pullback

[10:48] {Threei}  - Toxic debt plan is coming in next few weeks

[10:48] {Threei}  - Details of public/private program due in next few weeks as well

[10:48] {Threei}  market is shaping up for a stronger upward push but talking heads need to shut up

[10:48] {Threei}  and we had just one speech so far

[10:48] {dptl} in rimm .03

[10:48] {Threei}  so market anticipates couple more

[10:49] {Threei}  dino, on APOL

[10:49] {Threei}  WEAKNESS BEING ATTRIBUTED TO CITRON RESEARCH'S CAUTIOUS COMMENTS (TIMING UNCERTAIN)

[10:49] {Threei}  that's former stocklemon

[10:49] {Threei}  shorting outfit

[10:50] {geo} sniff

[10:50] {dptl} stopped rimm

[10:50] {cujo} stoppage on the rimmage

[10:51] {geo} rinse?

[10:51] {dino} cnbc this a.m. said he's been short it for two years. i wonder way they did not say it has tripled in two years?

[10:52] {dino} thats that "tough, in depth" reporting

[10:53] {Threei}  grr

[10:53] {Threei}  shake

[10:53] {geo} yup

[10:53] {cosmo} CAT wants more though

[10:53] {cosmo} ....sorry

[10:53] {magoo} STT vad

[10:55] {dawg} Thanks magoo on STT another order of bacon for you

[10:56] {magoo} :)

[10:56] {magoo} .30 cents off mnmention'

[10:56] {dawg} yessir

[10:57] {magoo} dunno wjhere vad went

[10:57] {geo} :)

06[10:57] * Threei slaps magoo around a bit with a large trout

[10:58] {magoo} can u change that to slab oof bacon

[10:58] {dawg} two slabs coming right up

06[10:58] * Threei slaps magoo around a bit with a large slab of bacon

[10:58] {magoo} ty

[10:58] {Threei}  but fish is good for you too

[10:58] {Threei}  not as good as bacon admittedly

[10:59] {cosmo} its a good use for bacon

[10:59] {magoo} GE vad

[11:01] {Threei}  (UK) PM BROWN: SEEKING TO GAIN COOPERATION TO LOWER OFFSHORE TAX HEAVENS

[11:01] {cosmo} underwater?

[11:01] {geo} ok rimm paid back

[11:02] {Threei}  took it on pullback?

[11:02] {geo} y

[11:02] {geo} and spy was rising

[11:02] {magoo} damm STT

[11:03] {cosmo} our first obamarally?

[11:03] {Threei}  you mean despite?

[11:04] {cosmo} thinking...

[11:04] {Threei}  careful

[11:04] {cosmo} yea

[11:04] {Threei}  serious headache ensues

[11:04] {cosmo} i use imitrex

[11:05] {geo} target .5 on rimm vad?

[11:05] {dino} dltr stop to .69

[11:05] {Threei}  market dependent geo

[11:05] {dino} mant es, falling

[11:05] {Threei}  can go much higher just as well

[11:06] {dino} dltr tyo .79

[11:06] {dino} to

[11:07] {geo} half out .51 RIMM

[11:07] {dino} out dltr .79, +.49

[11:08] {dino} apol whoosh in the making

[11:08] {Threei}  tempted to short it but volatility is horrific

[11:10] {Threei}  DRYS... resurrectio?

[11:10] {cujo} ruptura?

[11:11] {Threei}  let's try small shares APOL .70 breakdown?

[11:12] {cujo} stop .00?

[11:12] {Threei}  if stays below 70

[11:12] {Threei}  invalidated

[11:13] {Threei}  sigh of relief

[11:13] {Threei}  lopl

[11:14] {dino} you wanted to short apol?

[11:14] {Threei}  yeah

[11:14] {Threei}  still do, but can't find a reasonable entry

[11:14] {dino} waiting long at 68.41

[11:17] {dino} cgrb

[11:18] {Threei}  USD/CAD

[11:18] {Threei}  RBS: USD MAY APPRECIATE IN THE NEXT COMING MONTHS

[11:18] {Threei}  yes please

[11:19] {dino} nooooooooo

[11:20] {Threei}  come on dino... against CAD only

[11:20] {Threei}  don't care about anything else

[11:20] {cujo} u trade forex vad?

[11:20] {Threei}  no

[11:20] {Threei}  I live in Canada :)

[11:21] {Threei}  and making money in USD, converison to weaker CAD adds significantly

[11:21] {geo} comeon vad be patriotic

[11:21] {Threei}  I am

[11:21] {geo} CAD should be the strongest !!!

[11:21] {Threei}  weak CAD is good for Canada

[11:22] {Threei}  its rally killed maufacturing

[11:22] {geo} i mean hollywood patriotic

[11:22] {cosmo} we be financial patriots, i thought

[11:23] {geo} choppy pnl so far

[11:23] {magoo} about today..what copncerns me is 13 out oif 14 sessions we tank 100 - 300 points

[11:23] {magoo} today cant even get 140 up

[11:24] {magoo} mkt still 6850 area

[11:24] {Threei}  so we are still in downtrend

[11:24] {Threei}  not really breaking news

[11:24] {Threei}  enjoy bounce while it lasts

[11:24] {magoo} yup..BUT...we do not get the equivalant up like we used to

[11:25] {magoo} remember down 500...then up 500

[11:25] {Threei}  yes... see,

[11:25] {Threei}  that was the moment when market felt like bottoming out

[11:25] {Threei}  and huge volatility reflected that

[11:25] {magoo} like 9000 area i think

[11:25] {Threei}  Since then situation changed

[11:25] {Threei}  market doesn't like cujrrent policies,

[11:26] {Threei}  does't feel there is a business-friendly climate in works

[11:26] {Threei}  and doesn't see serious measures cacpable of turning things around being implemented

[11:26] {Threei}  So it votes by establishing downtrend

[11:27] {Threei}  and weakness of the bounces just reinforces it

[11:27] {geo} we dont like onix anymore

[11:27] {geo} ?

[11:28] {geo} j/k

[11:28] {Threei}  not when he misspelss his own username

[11:28] {geo} heheh

[11:28] {Threei}  miOnix? :)

[11:28] {geo} its like he was talking to mirc

[11:28] {geo} me onix

[11:28] {Threei}  lol

[11:31] {Onix} kicked out, but i'm back!:D

[11:32] {Threei}  for your entertainment Onix:

[11:32] {Threei}  [11:27] {geo} we dont like onix anymore

[11:32] {Threei}  [11:27] {geo} ?

[11:32] {Threei}  [11:28] {geo} j/k

[11:32] {Threei}  [11:28] {Threei} not when he misspelss his own username

[11:32] {Threei}  [11:28] {geo} heheh

[11:32] {Threei}  [11:28] {Threei} miOnix? :)

[11:32] {Threei}  [11:28] {geo} its like he was talking to mirc

[11:32] {Threei}  [11:28] {geo} me onix

[11:34] {Onix} you wanna make me cry :P

[11:35] {geo} nice PBR JBE

[11:37] {Threei}  things slowed down

[11:44] {dino}  pbr's haven't had in awhile, should grab a case

[11:45] {geo} :)

[11:46] {dino} kind of a spring time thing for me, that and schaeffer (as its the one to have when having more than one)

[11:48] {dino} mant sm risky l .01

[11:48] {dino} apol lod

[11:49] {magoo} we in anything??

[11:51] {Threei}  APOL down a dollar from that trigger

[11:51] {Threei}  too bad it invalidated

[11:52] {dino} mant stop is .72 fwiw

[11:52] {dino} stopped

[11:55] {Threei}  STT formed nice resistance to break at .50

[11:55] {Threei}  if market spikes sharply, aggressive entry in order

[11:57] {Threei}  got .41

[11:57] {Threei}  stop under .30

[12:01] {dptl} in.43

[12:03] {Threei}  no go

[12:03] {cujo} stoppage

[12:03] {dptl} stopped

[12:03] {fernp} stopped

[12:03] {dawg} stopped

[12:03] {Onix} i like that yellow CAT much better than STT

[12:06] {dino} mant big rinse

[12:13] {Threei}  US TREASURY SEC GEITHNER: MORTGAGE RATE AND TREASURY SPREADS NEED TO DECLINE

[12:13] {dino} v sm risky wide apol l .30

[12:16] {nemo} shortt STT below 20?

[12:16] {nemo} 22

[12:16] {Threei}  ssmallish shares

[12:16] {geo} wow flush

[12:18] {dino} esi coming into support 

[12:19] {Threei}  1:1 STT short

[12:20] {dino} gj

[12:21] {Threei}  CAT is amazingly strong

[12:25] {nemo} have to believe in my calls...scalped for very small shares

[12:25] {Threei}  yeah, hit 1:2

[12:26] {nemo} CAT decided to roll over a bit

[12:28] {Threei}  .11 long CAT for a scalp

[12:28] {Threei}  stop is obvious

[12:29] {nemo} in

[12:29] {magoo} 25.97?

[12:30] {Threei}  loss of 26

[12:30] {magoo} ok..just wanted to see if i srtill had any common sense

[12:32] {nemo} kick the frickin' cat

[12:33] {Threei}  can't

[12:33] {Threei}  animal cruelty laws

[12:33] {Threei}  no go

[12:33] {geo} umm caterpillars exempt

[12:34] {nemo} What STT giveth, CAT taketh away

[12:34] {geo} down for the day here..... I need to stop churning

[12:34] {Threei}  wow

[12:34] {geo} as in take less of my calls :)

[12:35] {Threei}  how do you manage to have a down day with wins like 50 cents and stops 10-15?

[12:35] {Threei}  oh, I see

[12:35] {geo} [09:34] {geo} as in take less of my calls :)

[12:35] {geo} or atleast keep em 100 share trials

[12:36] {magoo} my quotes been very clunky all week..any others with this prob in laser?

[12:37] {magoo} i have recent version 336

[12:37] {geo} 336 here and seems fine

[12:37] {Threei}  fine here mags

[12:37] {magoo} is there something i should check?

[12:37] {magoo} mine are stuck right now

[12:37] {Threei}  but your connection is shaky judging from how you and dino get disconnected from the room at the same time now and then

[12:38] {nemo} traitorous pet

[12:38] {magoo} thinking its our side

[12:38] {geo} stop downloading prn while trading magoo

[12:39] {nemo} viruses, adware, sticky keyboard

[12:39] {magoo} vad..i cant execute arca orders..message"No MaxFloor on PL" u know how fix that? i do all orders thru inet

[12:39] {magoo} isld

[12:39] {Threei}  huh?

[12:39] {magoo} [12:38] {geo} stop downloading prn while trading magoo

[12:39] {magoo} [12:39] {nemo} viruses, adwarbut when i do that mkt goes up

[12:40] {geo} CNI strong

[12:40] {Threei}  if you have ISLD designated, what ARCA message have to do with your order?

[12:40] {Threei}  you checked Route on/off and picked ISLD?

[12:40] {magoo} i just switched it to arca in my route 

[12:40] {magoo} u mean cant do both?

[12:41] {Threei}  ummm... you talked about common sense a bit earlier... :)

[12:41] {Threei}  how can it do both at the same time?

[12:41] {magoo} how can i have both?i must go to settings?

[12:42] {Threei}  one of us is losing his marbles

[12:42] {geo} you can route out to arca and make arca priority magoo

[12:42] {Threei}  {Threei} how can it do both at the same time?

[12:42] {geo} but cant do both i think

[12:43] {magoo} ok..in trade settings i have route out inet checked, rte out arca ched rte out edga and edgx checked

[12:43] {Threei}  route out must be checked for all

[12:43] {Threei}  it's a different setting, has nothing to do with your primary routing

[12:43] {magoo} bats too?

[12:44] {Threei}  it simply means that when you pick that route, it will hit all others, not just its own book

[12:44] {Threei}  so check them all and forget it

[12:44] {magoo} bats too?

[12:44] {Threei}  {-- crying

[12:44] {dptl} lol

[12:44] {magoo} no listen..u now see my settings

[12:45] {magoo} i go to trade screen w/buy sel;l buttons and route pop up

[12:45] {magoo} change to arca..get that wording

[12:45] {Threei}  why?

[12:46] {magoo} now im crying...

[12:46] {Threei}  leave Island as a main route for listed stocks

[12:46] {Threei}  uncheck route on/off for nasdaq

[12:46] {Threei}  that's it

[12:46] {magoo} wheres  that rte on/off ? im using diferent screen

[12:47] {magoo} my lev 2 has only SELL CANX ALL BUY

[12:47] {Threei}  then you don't have it

[12:47] {Threei}  swicth to one I use

[12:47] {Threei}  that I showed you earlier

[12:47] {Threei}  and you will have that checkbox

[12:47] {magoo} more comfortable with this one

[12:48] {magoo} but i guess then on this one u can only choose island?

[12:48] {Threei}  I don't know, I don't use that screen

[12:48] {magoo} ok..sorry..thought it was a easy setting

[12:49] {magoo} see, why have the rte pop up if none worx

[12:49] {Threei}  FED'S LOCKHART: STILL EXPECTS GRADUAL RECOVERY IN SECOND HALF OF 2009, WARNS OF TROUBLE IN COMMERCIAL REAL ESTATE

[12:49] {Threei}  - Credit markets remain stressed overall, some recovery has taken place in parts of credit sector.

[12:49] {Threei}  - Fed is prepared to do more to help the economy, notes that further emergency lending is tied to health of markets.

[12:49] {Threei}  - Most commercial real estate in the US is under stress, pressures in commercial real estate are cause for concern.

[12:49] {Threei}  - Real estate issues could complicate the recovery.

[12:49] {Threei}  - Recent economic data has been discouraging, provides little reason to be positive about the immediate future

[12:52] {nemo} Where's the ledge...

[12:53] {nemo} for a green day it doesn't feel very postive

[12:53] {nemo} positive

[12:53] {Threei}  it did while we were going up

[12:53] {Threei}  we are locked into tight range with slightly negative bias for what now

[12:54] {Threei}  hour and half - two hours

[12:54] {Threei}  yeah, from 11:30

[12:54] {nemo} hit the high around 9:40 actually

[12:55] {Threei}  hmm?

[12:55] {Threei}  not on my chart

[12:55] {Threei}  11:36, and retested at 11:58

[12:56] {nemo} right 11:10 but it backtracked between 9:40 and then headed back to the highs around 10:30

[12:58] {magoo} kinda my point

[12:58] {magoo} the down days are relentless..remember monday

[13:03] {nemo} CAT's really coughin' it up

[13:04] {magoo} i like to see this mkt powrup hard at 2 pm like to 300 points

[13:05] {magoo} and close upward 

[13:06] {Threei}  could be tough to do mags... we had just one speech today

[13:06] {Threei}  another can come any minute and finish the destruction

[13:06] {nemo} stop or enhance?

[13:07] {Threei}  enhance

[13:07] {Threei}  what all speeches lately do

[13:07] {nemo} ahhhhh...ragnaroc coming

[13:07] {Threei}  btw, cosmo was right about PALM

[13:08] {magoo} yea vad..not saying it will develope

[13:08] {magoo} tell u though..very bad if we close red

[13:08] {Threei}  well... depends on what's bad

[13:08] {Threei}  see... my conviction is,

[13:09] {Threei}  we will see a lot more of downside anyway

[13:09] {Threei}  so why not do it now

[13:09] {Threei}  we have two options here

[13:09] {Threei}  one is, let's have serious flush and be done with it

[13:09] {Threei}  another is, let's have a relief rally now,

[13:10] {Threei}  then slide back down and crash

[13:10] {Threei}  honestly, I'd prefer latter :)

[13:10] {Threei}  umm

[13:10] {Threei}  sorry

[13:10] {Threei}  former

[13:10] {buyemsellem} Are you willing to guess at a bottom?

[13:10] {Threei}  nope

[13:11] {buyemsellem} I like the people that have called five or six bottoms already

[13:11] {Threei}  we have 999 our 1000 of market commentators doing that

[13:11] {buyemsellem} no kidding

[13:11] {Threei}  out of 1000

[13:11] {Threei}  even president joined them yesterday

[13:11] {Threei}  let me be that one left who says:

[13:11] {Threei}  I have no idea where the bottom is,

[13:11] {Threei}  and those who say they do are full of it

[13:12] {Threei}  they will call bottom 15 times,

[13:12] {Threei}  they will be wrong 14

[13:12] {Threei}  you will never hear from them about those 14

[13:12] {Threei}  but they will tout that last one till no end

[13:13] {Threei}  last year - year and half proved one thing:

[13:13] {Threei}  no one had a grip on the events development

[13:13] {Threei}  literally no one

[13:13] {Threei}  it's high time for them all to shut up and stop making predictions

[13:16] {buyemsellem} amen

[13:17] {nemo} unfortunately that's what they get paid to do

[13:17] {Threei}  let them... just don't believe any of them

[13:17] {Threei}  they have no clue

[13:18] {nemo} I don't even watch

[13:18] {Threei}  neither do we, but we don't pretend

[13:18] {Threei}  we take it trade by trade

[13:20] {Threei}  APOL non stop

[13:25] {Threei}  guy at CNN probably heard us talking about his ilk

[13:25] {Threei}  preaches "market is down 50%, time to buy"

[13:30] {nemo} Yeah, the P/E ratios are great

[13:33] {Threei}  trying to get a feel for the eod direction

[13:33] {Threei}  rally or fizzle out

[13:34] {Threei}  FED'S LOCKHART: NOT WORRIED ABOUT PROPECT FOR INFLATION RISING IN THE NEAR TERM; WILL NEED TO RAISE RATES WHEN ECONOMY BEGINS TO RECOVER - Q&A

[13:34] {Threei}  - Notes is optimistic that bad assets from banks can be removed from their balance sheets

[13:34] {Threei}  tell us how

[13:35] {Threei}  I suspect if you guys knew how to remove them you'd have done it ,long ago

[13:35] {nemo} yeah, we fund them

[13:36] {nemo} Well, you're a canuck...WE fund them

[13:36] {nemo} and you buy our debt :)

[13:40] {dino}  ntrs smackdown

[13:41] {Threei}  PREVIEW: FED'S BEIGE BOOK SURVEY OF REGIONAL ECONOMIC CONDITIONS TO BE RELEASED AT 2PMET

[13:42] {Threei}  i'd guess it's rather blak book

[13:42] {nemo} Bad...badder...worse

[13:42] {Threei}  black

[13:42] {nemo} bleak

[13:42] {nemo} morose

[13:42] {nemo} moribun

[13:42] {nemo} moribund

[13:42] {nemo} malfeasant

[13:42] {nemo} malevolent

[13:42] {nemo} machiavellian

[13:44] {Threei}  keepin half eye on DRIV

[13:44] {dino} will the recent pattern hold?

[13:46] {magoo} 2 pm has been the kick off of late

[13:47] {magoo} but up or down dunno...gotta ask cnbc announcer for that

[13:47] {Threei}  lol

[13:49] {dino} need to get another magic 8 ball

[13:49] {nemo} I need to get out from behind the 8 ball

[13:51] {dino} this week, me too

[13:51] {nemo} actually, need to have it surgically removed

[13:52] {magoo} if If mkt were to blast off watch SPY

[13:52] {cujo} spy

[13:52] {cujo} why?

[13:53] {magoo} kind of a tell 

[13:53] {cujo} so SPY will lead a bit?

[13:54] {magoo} yup

[13:54] {cujo} will keep an eye on it

[13:56] {magoo} how many eyes u got?

[13:58] {cujo} 2.5

[13:59] {magoo} oh u good then

[13:59] {nemo} see those tails on spy?

[14:00] {Threei}  RIG sharp down

[14:00] {Threei}  FED'S BEIGE BOOK: ECONOMIC CONDITIONS WORSENED, US ECONOMY ERODED FURTHER THROUGH LATE FEBURARY; NEAR TERM PROSPECTS POOR

[14:00] {Threei}  no really?

[14:01] {magoo} i need get copy of that book

[14:01] {magoo} lol

[14:02] {Threei}  Auto sales execptionally sluggish, Housing in the 'doldrums', mortgage demand was depressed

[14:02] {Threei}  - Notes that unemployment up broadly

[14:02] {Threei}  - No pickup expected until late 2009 or early 2010

[14:02] {dino} must6 they announce the same thing day after day. it is quite obvious what is happening

[14:02] {nemo} hehehehe wait till 2012

[14:02] {Threei}  yeah, that's extremely observant on their part

[14:03] {Threei}  frikin DRIV just cntinues climbing

[14:03] {Threei}  no pullback

[14:03] {nemo} what is driv?

[14:04] {nemo} nevermind

[14:04] {magoo} HIG green..any significance inb that vad?

[14:05] {Threei}  most of stocks green...

[14:05] {magoo} buying coming in

[14:05] {Threei}  - Spending remains low, with price pressures continuing to ease through a broad range of products

[14:05] {Threei}  - Philadelphia and Chicago note economic conditions have not deteriorated significantly, yet econmies remains weak

[14:06] {magoo} SPY breaks 72.05 we gonna get"high high"lol

[14:07] {magoo} thats from movie platoon 

[14:07] {nemo} thanks Barnes

[14:08] {nemo} SPY and FAS creepin' up

[14:08] {magoo} long spy here .60

[14:09] {magoo} looking for more than scalp

[14:09] {magoo} needs mkt

[14:09] {magoo} needs ally better put

[14:09] {geo} i thought spy was market

06[14:09] * geo hides

[14:09] {magoo} it is

[14:09] {magoo} [14:09] {magoo} needs ally better put

[14:09] {nemo} spy is S&P 500 etf

[14:10] {magoo} but it trades fast

[14:10] {magoo} read on GS vad???

[14:10] {dawg} SPY scalp ty magoo another slab of bacon for you

[14:10] {magoo} too late soorry boss

[14:12] {magoo} someone wake vad..thiongs starting to move here

[14:12] {magoo} kick him if u must

06[14:12] * geo slaps Threei around a bit with a large trout

[14:12] {geo} fish is good for you he said

[14:13] {Threei}  sigh

[14:13] {Threei}  relax, will ya

[14:13] {Threei}  5 points move NQ

[14:13] {Threei}  nothing really followed it

[14:13] {Threei}  RIMM is in place

[14:13] {Threei}  CAT in place

[14:13] {magoo} just doin  my job here

[14:14] {Threei}  GS, if pulls back into .50 will be inetersting

[14:15] {magoo} if goog pulls in 116 area interesting too

[14:16] {buyemsellem} that would be interesting

[14:16] {Threei}  if market spikes, AAPL .15 long

[14:16] {buyemsellem} i wonder what the NQ would be at that point

[14:17] {magoo} in

[14:17] {cujo} i'm in

[14:17] {cujo} .16 stop at .98

[14:17] {cujo} actually, stop at .94

[14:18] {Threei}  1:1 in a hurry

[14:20] {dawg} good call Vad AAPL ty

[14:20] {cujo} good call Vad

[14:20] {Threei}  welcome

[14:21] {magoo} ty aapl

[14:23] {Threei}  lol

[14:23] {Threei}  JPM

[14:23] {Threei}  HEARING DEFENDED AT MORGAN STANLEY

[14:23] {Threei}  uhhu

[14:24] {Threei}  I can just see banks putting their wagons in circle

[14:25] {Threei}  GS in the center, distributing riffles

[14:25] {Threei}  women dragging LEH's body

[14:25] {Threei}  kiddies are forbidden to look ar Bear Sterns

[14:26] {Threei}  wounded C giving out last words of wisdom

[14:27] {Threei}  BAC putting band-aids on the fresh wounds with grim determination on the face

[14:32] {dino} out vz .10, all day for a dime, sheesh

[14:32] {Threei}  lol

[14:32] {Threei}  too much like work eh?

[14:33] {dino} yeah

[14:33] {Threei}  still can't get a feel for the eod direction

[14:33] {cujo} i'm going out on a limbe here, but i'm guessing flat

[14:33] {cujo} limb

[14:34] {buyemsellem} you can't call it going out on a limb unless you predict that it's going up

[14:35] {nemo} think he was being ironical

[14:37] {cujo} i'm not sure what i mean

[14:37] {dino} i understand

[14:37] {nemo} well, you are rabid

[14:37] {cujo} :)

[14:38] {nemo} saw that woman from the movie not too long ago...that movie was loooong ago

[14:41] {dino} dna stop to .41

[14:41] {dino} all day

[14:42] {dino} out +.36

[14:43] {dino} cpla sm l .20

[14:43] {fernp} gj dino

[14:44] {dino} ty

[14:44] {Threei}  ok... up it is for next couple legs, IMO

[14:48] {dino} cpla stopped

[14:48] {Threei}  AAPL long .10 if holding 92

[14:48] {dino} man, i am off this week

[14:48] {Threei}  over 1:1

[14:48] {Threei}  gotta be frikishly fast

[14:49] {nemo} yeah, frustratin'

[14:49] {Threei}  anyone caught it?

[14:49] {cujo} nope

[14:49] {nemo} cujo?

[14:49] {cujo} sry

[14:49] {buyemsellem} got caught daydreaming

[14:49] {Threei}  just don't chase

[14:49] {Threei}  it's all just scalps

[14:49] {nemo} too old to chase...wait till they walk by and hit em with a baseball bat

[14:49] {Threei}  and no re-entry on the way back

[14:50] {geo} fxp seems to have an interesting correlation to spy

[14:50] {buyemsellem} yup

[14:50] {Threei}  each trade should be evaluated on its own at this time

[14:52] {geo} ahhh... finally crept back into green

[14:52] {Threei}  not easy to be green eh?

[14:52] {geo} not today for me no

[14:53] {nemo} Geezus...sesame street?

[14:53] {geo} rising fxp on way down

[14:54] {geo} riding

[14:54] {buyemsellem} interesting, or maybe not, that FAS is red

[14:54] {Threei}  disconnection of finnies from the market

[14:55] {Threei}  or more precisely, compartmentalizing

[14:55] {nemo} how do I swim without finnies?

[14:55] {Threei}  swim with chips

[14:55] {nemo} how do I hold them?

[14:55] {geo} chips as in semis?

06[14:55] * geo head hurts

[14:56] {nemo} Geo, look at my name

[14:56] {geo} true

06[14:56] * geo stands enlightened

[14:56] {Threei}  insane captain of a submarine... or lost fish

[14:56] {geo} comon fxp break 36 !!!

[14:57] {nemo} or guy who pokes cyclops eye out

[14:57] {Threei}  no read again

[14:58] {nemo} didn't mean your eye...

[14:58] {Threei}  lol

[14:58] {Threei}  I have 17

[14:58] {Threei}  just don't tell anyone

[14:58] {nemo} much be an expensive visit to the optometrist

[14:58] {geo} sheesh out fxp

[14:58] {dptl} ok..have a good evening all

[14:59] {Threei}  take care dp

[14:59] {cosmo} 17 ...that's odd

[14:59] {Threei}  NVDA

[14:59] {Threei}  CONSIDERING ENTERING THE X86 COMPUTER MARKET - WSJ

[14:59] {nemo} cosmo, don't leave tht one out there

[15:00] {cosmo} uh .... well its also prime

[15:00] {dino} well that was the 2-3 rally, now 3-4?

[15:00] {Threei}  (US) HOUSE FINANCIAL SERVICES SUBCOMMITTEE IS REPORTEDLY EXPECTED TO HOLD A HEARING ON MARK-TO-MARKET ACCOUNTING ON MARCH 12 - UNCONFIRMED REPORT

[15:00] {Threei}  {XLF}

[15:00] {Threei}  this is what propped FAS just now

[15:01] {dino} betcha

[15:01] {Threei}  Reportedly SEC accounting chief and FASB chief will be asked to testify before the subcommittee

[15:01] {buyemsellem} easily biggest volume of day

[15:02] {Threei}  on what?

[15:02] {buyemsellem} FAS

[15:02] {Threei}  not yet

[15:02] {buyemsellem} minute chart

[15:02] {dino} m2m  buyem

[15:02] {Threei}  oh

[15:02] {Threei}  yes

[15:02] {buyemsellem} yup

[15:03] {Threei}  if they announce abolishment of m2m, market explodes

[15:03] {Threei}  even this mention showing that they discuss it did

[15:03] {Threei}  on a small scale

[15:03] {nemo} Funny, it still doesn't make any difference, you still don't know what anything is worth

[15:04] {Threei}  doesn't really matter at the moment

[15:04] {nemo} no, this is the matrix

[15:04] {Threei}  it takes huge weight off the balance sheet

[15:04] {dino} deck s .59 sm

[15:05] {geo} MFE insteresting chart

[15:05] {dino} exactly 3i

[15:05] {Threei}  I love this line in the budget

[15:06] {Threei}  pigs odor research

[15:06] {Threei}  1.7 mil

[15:06] {geo} i think thats for SEC to sniff out CEOs :)

[15:06] {dino} sort of like sitting by magoo

[15:07] {geo} oooooh

[15:07] {cosmo} seems to be a bank investigation

[15:07] {cosmo} ... that 1.7 mil

[15:07] {dino} these rinses are big and killing me, cpla

[15:08] {Threei}  by the way, before market got active again

[15:09] {Threei}  mags... you remember you owe me watching a movie Fallen?

[15:09] {nemo} Azazel

[15:09] {magoo} huh?

[15:09] {cujo} Fallen good movie... 

[15:09] {geo} thats an interesting debt vad

[15:10] {magoo} title "Fallen"

06[15:10] * Threei slaps magoo around a bit with a large bottle of memory refreshing drug

[15:10] {geo} good movie

[15:10] {cujo} Anyone see "Lord of War"?

[15:10] {geo} man exited fxp too soon

[15:10] {Threei}  you and dino

[15:10] {nemo} yes

[15:10] {geo} any "learning to hold" drug vad?

[15:10] {Threei}  if you like storm of the century you are going to love fallen

[15:10] {nemo} rimm Vad?

[15:11] {magoo} a horror movie?

[15:11] {Threei}  not sure about RIMM

[15:11] {Threei}  market switched focus back to financials it seems

[15:11] {magoo} gs read?

[15:11] {Threei}  up

[15:12] {Threei}  if can get a pullback to .50 or under would be much safer

[15:12] {Threei}  but judging from FAS buying, not going to happen

[15:13] {dino} deck cov. stopped

[15:13] {geo} fxp gicing a nice scalp lag to spy vad

[15:13] {geo} giving

[15:13] {Threei}  see how RIMM is still there

[15:13] {Threei}  while FAS, GS, STT all go

[15:14] {nemo} yes

[15:14] {Threei}  15:11] {Threei} market switched focus back to financials it seems

[15:14] {magoo} tough on entries

[15:14] {magoo} darn

[15:14] {Threei}  pullback in order now, not too deep

[15:14] {Threei}  then another spike

[15:15] {Threei}  STT, probably .40 - .50 zone

[15:16] {magoo} wish GS would pullbk

[15:16] {magoo} 2 points from when i asked u

[15:17] {nemo} seems market is betting on m2m

[15:18] {magoo} vad pointed out many times...mkt just looking for any news at all that resembles positive

[15:19] {dino} why do you think obama's taking all of the bank common

[15:19] {magoo} prob is these kind of spikes are tough to enter..get left behind

[15:19] {dino} m2m gone, banks rock, fixed game

[15:19] {geo} summers

[15:20] {cosmo} and then down with that $25K rule...

[15:20] {Threei}  I'd put it this way nemo: this is what market wants to hear

[15:20] {magoo} they wont help traders...the govt really hates us

[15:20] {cosmo} sigh

[15:21] {magoo} cos..a sponsor of the trader tax yesterday was interviewed

[15:21] {magoo} was told iot would hurt small individual traders

[15:21] {Threei}  imbecil

[15:21] {cosmo} we help keep a stable market

[15:21] {Threei}  he thinks pension funds won't care?

[15:21] {magoo} he shrugged said who cares about daytraders..offer no economic value whjatsoever and they ruined mkt...NO SHIT

[15:21] {Threei}  hedge funds?

[15:22] {Threei}  mutuasl funds?

[15:22] {geo} I am sure the big boys will get exemption bad

[15:22] {geo} vad

[15:22] {Threei}  how do you draw the line?

[15:22] {Threei}  and what about online brokerages? whole industry

[15:22] {magoo} u should have seen this

[15:22] {Threei}  what, you forbid self-directed accounts?

[15:22] {geo} the way i see it worst case we will have to get series and join a exchange member prop

[15:23] {magoo} i tell u..if the law makers in majority are anyway near his opinion we f'ed

[15:23] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=abNkskpey.4I

[15:24] {dino} apol last try sm l .40

[15:24] {geo} wow gs

[15:24] {Threei}  decimate is right word

[15:24] {geo} feel yyour pain magoo

[15:25] {magoo} i gotta make like half mill BEFORE they pass that tax vad...so get to work

[15:26] {Threei}  then you have a lifetime for that magoo

[15:26] {Threei}  it won't happen

[15:26] {geo} england has it

[15:26] {Threei}  and if it does, making money will be your last problem

[15:26] {geo} but it has all sort of loopholes

[15:26] {dino} anything can happen

[15:26] {nemo} Barney Frank says it's off the table for at least the next 4 years.

[15:26] {magoo} get to work anyway rofllol

[15:26] {dino} barney was off the table

[15:27] {magoo} barney was "nder" the table dino

[15:27] {Threei}  http://www.realitytrader.com/blog/2009/02/securities-tax-proposal.html

[15:27] {dino} that idiot got us here, i control fmn, fre

[15:27] {Threei}  too bad they gave so much time till hearing... March 12

[15:28] {magoo} then we need equal idiot to lead us out i think

[15:28] {Threei}  if it was tomorrows, FAS would have been at 5 already

[15:28] {magoo} HIG really reversed

[15:30] {geo} woooo

[15:31] {cosmo} last half hour needs better volume .... i think

[15:32] {dino} apol stop to .95

[15:32] {nemo} or is this going to be like the rest and cruise into the close

[15:33] {Threei}  I don't know... feels different

[15:33] {dino} out apol .05, +.65

[15:34] {Threei}  wtg

[15:34] {magoo} feels like strong close

[15:34] {magoo} just a feeling

[15:35] {dino} deck rinsed 

[15:35] {Threei}  yes mags but we still have 30 minutes for another speech

[15:35] {nemo} if it close now it woul be strong

[15:35] {magoo} oh shit..because we didnt have 2 already today..forgot him

[15:35] {Threei}  yup, just one

[15:36] {nemo} He'll probably come on and talk about how wonderfully the market is doing

[15:36] {buyemsellem} he would advise the nation to sell into the rally

[15:37] {buyemsellem} for a nice profit from when he said to buy

[15:37] {Threei}  and claimed the title of headtrader in chief?

[15:38] {geo}   so much cynicism

[15:38] {Threei}  UBS

[15:38] {Threei}  US SENATOR LEVIN (D): UBS HAS AGREED TO TURN OVER THE NAMES OF 300 CLIENTS TO THE IRS

[15:38] {Threei}  - UBS will not turn over any more info beyond these 300 names after the US Govt was seeking in excess of 50K names

[15:38] {Threei}  - Reminder: Back on 2/18 UBS settled an SEC suit claiming UBS took $380M of "ill gotten" gains by acting as an unregistered brokerage and advisor to US clients and pledged to name about 250 account holders.

[15:38] {Threei}  how do they pick those 300?

[15:38] {Threei}  lottery?

[15:39] {geo} the poorest ones who didnt pay enough fees to UBS?

[15:39] {cosmo} they watch who's sell now

[15:39] {cosmo} selling

[15:40] {geo} heheheh

[15:40] {geo} C almost a penny stock

[15:40] {geo} been banking there for 15+ years

[15:41] {cosmo} they need you now

[15:43] {cosmo} i bot one of their cars once

[15:43] {cosmo} the Dart

[15:43] {cosmo} miss it

[15:47] {nemo} wiedersehen

[15:48] {nemo} see ya mornin'

[15:48] {Threei}  take care nemo

[15:48] {dino} cya nemo

[15:49] {Threei}  we have 12 more minute not to fizzle out

[15:49] {Threei}  PALM

[15:49] {Threei}  S&P CUTS RATINGS

[15:50] {dino} little late

[15:50] {Threei}  (AU) AUSTRALIAN PM: THERE IS NO STOPPING THE GLOBAL ECONOMIC STORM, EXPECTS UNEMPLOYMENT TO WORSEN

[15:50] {Threei}  no stopping eh

[15:51] {Threei}  ehat kind of defeatist talk is that

[15:51] {dino} it's perpetual. it will never end

[15:51] {dino} :)

[15:51] {Threei}  yup... unemployemtn will rise to 100%

[15:52] {Threei}  and above

[15:52] {cosmo} its to make you afraid, i'm afraid

[15:52] {magoo} shitty cl.ose

[15:52] {magoo} AGAIBN

[15:52] {Threei}  come on mags

[15:52] {dino} seems to me the guy should join the unemployed w/that thinking

[15:53] {magoo} its selling hard vad

[15:53] {magoo} lost 60 points

[15:53] {Threei}  nothing of the scale we saw

[15:53] {Threei}  just slight profit taking

[15:54] {Threei}  and btw

[15:54] {Threei}  what are you fdoing here still, instead of going to rent Fallen?

[15:54] {magoo} is it about trading?

[15:54] {Threei}  lol, no

[15:55] {cosmo} fallen down?

[15:55] {magoo} is it about magoo drinking?

[15:56] {Threei}  oh just go watch it already

[15:56] {dino} taking a little apol overnight

[15:56] {magoo} joke..magoo drinks..he fallks down

[15:56] {magoo} ask fdino

[15:56] {dino} and esi if it hits lod

[15:57] {dino} he's lucky he's like a tigger

[15:58] {magoo} see..i just think the psychology of this close isnt grewat

[15:58] {magoo} gave back 90

[15:59] {dino} nor is your mental health

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all, that was a fair day

[15:59] {magoo} ty vad

[15:59] {Threei}  have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {fernp} good evening 

[16:00] {buyemsellem} thanks, have a good evening

[16:00] {vint} good evening all

[16:01] {dino} thx all

[16:01] {cujo} c ya all

Mar 03 2009

Winning streak of over two weeks got finally interrupted today. The day started with three stops in a row; couple strong plays on AAPL and RIMM later on corrected the situation leaving just a little but still red. Oh well.

Session Time: Tue Mar 03 00:00:00 2009

[08:04] {magoo} morning

[08:04] {Threei}  Good morning

[08:16] {Threei}  BALTIC DRY BULK INDEX +1.0%, 3RD STRAIGHT INCREASE

[08:18] {magoo} drys has been a real pos though vad

[08:18] {Threei}  yup

[08:25] {magoo} what u looking at early vad?

[08:25] {Threei}  BAC/FAS

[08:25] {magoo} i was watching as a short

[08:25] {magoo} faz

[08:26] {magoo} uin anything?

[08:27] {Threei}  no

[08:27] {Threei}  was fairly tempted to take FAS home

[08:27] {Threei}  then decided, what am I a hero

[08:35] {magoo} vad, any news aapl or rimm we need to know about?

[08:36] {Threei}  APPLE UPDATES CONSUMER DESKTOP LINE

[08:36] {Threei}  -Apple today announced updates to its iMac(R) and Mac(R) mini desktop lines, including a 24-inch iMac that is priced more affordably than ever before and a Mac mini with powerful new integrated graphics.

[08:37] {Threei}  Gartner: 17M fewer phones in cellphone inventory in Q4, demand not stabilizing in 2009

[08:37] {Threei}  - Samsung, LG won market share in Q4

[08:38] {Threei}  not really serious news... both are just gapping with market, IMO

[08:39] {pita} gm all

[08:39] {Threei}  pita :)

[08:39] {Threei}  and market reacts on renewed chatter about buying toxic assets plan

[08:39] {magoo} stating obvious here..but we are crazy oversold

[08:40] {Threei}  well... oversold can easily get oversoldeer, as we witnessed many times :)

[08:41] {cosmo} mags.... you need to sell your core holdings before there's a turn around

[08:41] {Threei}  lol

[08:41] {Threei}  for canucks:

[08:41] {Threei}  PREVIEW BANK OF CANADA INTEREST RATE DECISION EXPECTED AT 9:00AM ET (14:00 GMT)

[08:41] {Threei}  - Consensus expectation is for a 50bps rate cut to 0.50% from 1.00%

[08:41] {Threei}  - Note: There is a rang e of expectations among analyst for this rate decision There areseveral analysts calling that the BOC holding rates steady at 1.00% while several others looking for a 25bps to 50bps rate cut

[08:42] {ese} morning.....

[08:44] {Threei}  ese :)

[08:47] {dino} gm all

[08:47] {Threei}  dino :)

[08:47] {ese} cheaper mortage again....it's already crazy cheap

[08:48] {Threei}  only is those cuts will be passed to a customers... wasn't really the case with most of previous cuts

[08:48] {Threei}  is = if

[08:49] {Onix} gm all

[08:50] {Threei}  onix :)

[08:50] {Threei}  WHITE HOUSE ADVISOR ROMER: INVESTORS SEEM WILLING TO LEND TO US GOV'T AT LOW INTEREST RATES

[08:51] {magoo} treasury timmy speaks today..anyone know time?

[08:51] {dino} i'd rather hear from tool time tim

[08:52] {Threei}  Ben testifies at 10

[08:52] {Threei}  Tim, not sure

[08:52] {ese} DRYS on the move again

[08:52] {Threei}  crawl is more like it

[08:53] {dino} what time obamination?

[08:53] {magoo} lets not waste one of vads eyes watching DRYS

[08:54] {Threei}  that's a great mystery

[08:54] {magoo} most it move would be 20 cents anyway

[08:54] {Threei}  one thing is certain: at some point he will speak

[08:55] {Threei}  BAC is trying

[08:57] {Threei}  mags... for adrenalin-charged play, watch STT at the open

[08:57] {Threei}  has this manner to drop sharply a buck or two, then bounce wildly

[08:58] {Threei}  very hard to time

[08:58] {geo} good morning

[08:58] {nemo}  Good Morning...what did I miss?

[08:58] {Threei}  geo :)

[08:58] {Threei}  nemo :)

[08:58] {Threei}  not much... just usual harrassment by magoo

[08:58] {cosmo} we took red pills, tho

[08:58] {nemo} let's you know you're alive

[08:58] {nemo} mine say 

[08:59] {nemo} "sandoz

[08:59] {magoo} see how people get labeled? ive been nice 

[08:59] {nemo} Yeah, takes a long time to realize a tiger has changed it's stripes

[08:59] {Threei}  this is especially disturbing

[08:59] {nemo} What that mags has been nice?

[09:00] {Threei}  seeing magoo being nice... makes me think "where is the cathc"

[09:00] {Threei}  (CA) BANK OF CANADA CUTS BY 50BPS TO 0.50%; AS EXPECTED

[09:00] {nemo} Magoo's catholic?

[09:01] {cosmo} cathar?

[09:01] {Threei}  FED'S LOCKHART: FED IS MINDFUL OF ITS DUAL MANDATE OF GROWTH AND INFLATION CONTROL, OBJECTIVES CAN SOMETIMES BE IN CONFLICT

[09:01] {Threei}  - US economy is exhibiting weakness "across the board," shrinking at a "dramatic rate."

[09:01] {Threei}  - Still expects the US economic recovery to begin in second half of 2009.

[09:01] {Threei}  - Sees US commercial real estate and the global economic weakness are "special risks" to outlook.

[09:01] {Threei}  - The exposure of European banks is a problem.

[09:01] {Threei}  - Expects house prices to bottom this year.

[09:01] {Threei}  - Neither inflation or deflation are serious risks at this point

[09:01] {Threei}  CNBC'S LISEMAN REITERATES $200B TALF TO BEGIN TODAY, NOTES IT COULD BECOME THE FED'S LARGEST EMERGENCY LOAN PROGRAM

[09:02] {nemo} Mmmmmhhhh....interesting cool aid he's drinking

[09:04] {nemo} Interesting the pasting gold has been taking?

[09:05] {geo} yeah sniff

[09:05] {geo} if it drops below 89 my spreads are going to take a beating

[09:05] {nemo} It's a very political commodity

[09:05] {Threei}  CAD WEAKENS AFTER BOC RATE DECISION, NEAR 1.29 LEVEL

[09:05] {Threei}  good

[09:06] {cosmo} wanna buy a gold pasted watch?

[09:07] {cujo} good morning

[09:07] {Threei}  cujo :)

[09:09] {cosmo} ...sometimes i worry that someday gold will only be as good as a weapon of self defence

[09:10] {nemo} too soft

[09:10] {cujo} ha ha ha, was just thinking that.

[09:10] {cosmo} that is a problem

[09:10] {cosmo} but it still cuts

[09:10] {nemo} at least silver works against vampires and werewolves (wulff)

[09:11] {cosmo} hmmm ... i've used wood

[09:12] {dptl} good morning all

[09:12] {fernp} Hello everybody

[09:12] {Threei}  dp, fern :)

[09:12] {buyemsellem} morning

[09:12] {nemo} mornink

[09:12] {Threei}  buyem :)

[09:14] {nemo} Vad...any comments on this new routing in LASER?

06[09:14] * geo is all ears

[09:15] {Threei}  it's implemented just today, and only in a new version I haven't even downloaded yet... how would I know? :)

06[09:15] * geo got an earfull

[09:15] {Threei}  *US FED: TALF TO BEGIN MARCH 25

[09:15] {nemo} 3rd Eye

[09:16] {Threei}  [09:01] {Threei} CNBC'S LISEMAN REITERATES $200B TALF TO BEGIN TODAY

[09:16] {Threei}  so, todsay or march 25?

[09:16] {Threei}  *US FED: TALF TO BEGIN MARCH 25, SEEK LEGISLATION TO RETRIEVE TOOLS, HAVE CUT INTEREST RATES AND COLLATERAL HAIRCUTS

[09:17] {nemo} Probably end up being the 15th...something about the Ides of March seems so poetically serendipitous

[09:17] {vint} good morning all

[09:17] {Threei}  vint :)

[09:17] {Onix} fed into the haircut business now as well?

[09:17] {Threei}  and shoeshining

[09:17] {Onix} :O

[09:18] {Onix} and changing of diapers?

[09:18] {cosmo} the ideas of March ....sigh

[09:18] {nemo} It would be nice if they'd subsidize vaseline too.

[09:18] {Threei}  good one cosmo

[09:18] {Threei}  deep

[09:19] {Threei}  subliminal

06[09:20] * Threei slaps dptl around a bit with a large cigarette

[09:20] {cosmo} no more $300 hair cuts for those guys i say

[09:20] {Threei}  be back in 5

[09:22] {cujo} if i can't have a 300 dollar haircut i don't want a haircut.

[09:22] {nemo} Have one or pay for it?

[09:22] {cujo} haha, either...

[09:24] {Threei}  (CA) BOC'S MACKLEM: ACCESS TO CREDIT IN CANADA IS UNDER PRESSURE, BANKS ARE WELL CAPITALIZED

[09:25] {Threei}  if they are well capitalized, why the pressure?

[09:25] {dptl}  smoking......xe xe check this out: http://www.costco.com/Browse/Product.aspx?Prodid=11333096&cm_mmc=BCEmail_390-_-FOCUS-_-16-_-NJOYKit

[09:25] {Threei}  how do these guys manage to speak from both sides of their mouth?

[09:25] {Threei}  I gotta try that

[09:25] {Threei}  go long or short ABCD

[09:26] {nemo} drooling?

[09:28] {nemo} Geithner speak today?

[09:28] {Threei}  yeah

[09:28] {Threei}  and Ben

[09:29] {Threei}  dp, going to try that?? :)

[09:29] {nemo} Might make it to 6000 in one shot

[09:29] {dptl} thinking about it...intresting.....eh?

[09:29] {dino} if you were going to introduce game changing regulations, wouldn't you buy a big slug of a major bank, think citi, before annoucing the change- minyanville/harrison. think about that!

[09:29] {cujo} just bought 1000 zvzzt

[09:30] {dino} particulaily if you were catching heat for spending tax money

[09:32] {Threei}  watching STT

[09:32] {geo} crazy moves

[09:32] {Threei}  if sells to 22 or under, will be interested

[09:33] {cosmo} dino...we may need to sell Yosemite

[09:33] {nemo} Awww...not Yogi!

[09:33] {Threei}  it tends to overshoot any sane targets by as much as 50 cents or more, don't be oin a rush to enter

[09:35] {dino} hey hey booboo, lets get us some picinic baskets

[09:35] {Threei}  smackdown

[09:35] {magoo} spike FAZ

[09:40] {Threei}  sharp red bar in STT now is desirable

[09:42] {dino} mcd powerful

[09:43] {dino} rimm outdoing aapl

[09:43] {Threei}  PREVIEW: FED'S BERNANKE IS SCHEDULED TO TESTIFY BEFORE THE SENATE BUDGET COMMITTEE ON THE BUDGET AND ECONOMIC OUTLOOK AT 10AMET

[09:43] {Threei}  - there will be a prepared text followed by Q&A with the Senators.

[09:43] {Threei}  PREVIEW: FEB US VEHICLE SALES NUMBERS EXPECTED THROUGHOUT THE DAY FROM MAJOR AUTO MAKERS

[09:44] {nemo} those should be uuuuuuuuggggggggglllllllllyyyyyyyyyy

[09:44] {Threei}  PREVIEW: JAN PENDING HOME SALES DUE OUT AT 10AMET

[09:44] {Threei}  **consensus expectation: -3.5%e v +6.3% prior

[09:44] {Threei}  - analyst estimates range from -0.8% to -5.0%

[09:44] {Threei}  STT didn't do what I had in mind so far

[09:44] {geo} what were you expecting vad?

[09:44] {Threei}  **consensus estimates (adjusted):

[09:44] {Threei}  - Ford: -43%e (usually released at Noon ET).

[09:44] {Threei}  - GM: -45%e (usually released around 1:45pmET).

[09:45] {Threei}  much sharper selloff

[09:45] {Threei}  usually that's what it does before bouncing a good buck or tweo

[09:45] {geo} i grabbed 10c on the bounce.... 200 shares only

[09:45] {geo} ok

[09:45] {geo} a bit whippy

[09:46] {ese} Bstop DECK 40.01 1/2

[09:47] {cosmo} PDLI

[09:47] {cosmo} salmon maybe?

[09:48] {geo}  wow FCN

[09:48] {Threei}  so far... hard to tell yet

[09:50] {Threei}  not very active opening

[09:51] {nemo} waiting on the Bobbsey Twins

[09:51] {Threei}  FDIC SENDS LETTER TO TROUBLED BANKS; CALLS FOR CEOS TO CUT RISK, LIMIT GROWTH IN BALANCE SHEET

[09:51] {nemo} what growth?

[09:51] {dino} and how does this increase lending?

[09:51] {geo} azo  strong

[09:51] {cosmo} hair growth?

[09:52] {cosmo} PDLI tests the locks at .53

[09:53] {Threei}  Prex on TV in soon

[09:53] {Threei}  Prez

[09:53] {Threei}  and you wondered...

[09:54] {nemo} So, the daily sitcom continues

[09:56] {dino} somebody tell him campaign is over

[09:56] {nemo} volumes up on Dow but down on NAZ an S&P

[09:56] {ese} thas my question WHAT GROWTH????

[09:57] {Threei}  they mean balance sheet growth... that can be achieved by overlending

[09:57] {Threei}  GOLDMAN ECONOMIST FORECASTS US Q1 GDP -7% V -4.5% PRIOR EXPECTATION

[09:57] {dino} ipcm spike

[09:58] {ese} ahhhhhhh...tks vad

[09:59] {ese} DECK is starting to look like one of your examples from your book vad

[10:00] {Threei}  JAN PENDING HOME SALES: -7.7% V -3.5%E

[10:00] {Threei}  FED'S BERNANKE: SIZE OF BANK RESCUE DEPENDS ON STRESS TEST, US MAY NEED TO EXPAND BANK RESCUE FUND

[10:00] {cujo} CAT looks lethargic

[10:01] {cujo} 10:01:17 ARCA equities experiencing street wide issues.

[10:01] {Threei}  - Economic data shows little sign of improvement

[10:01] {Threei}  - Sees contractions in foreign economies widening

[10:01] {Threei}  - Reiterates that rates should stay "very low" for "some time.

[10:01] {cujo} just got this from my execution service

[10:03] {Threei}  here is president

[10:03] {ese} L DECK .03

[10:03] {nemo} Geez...just when FAS was looking like it might be worth a trade

[10:03] {Threei}  strange opening

[10:04] {Threei}  can't remember one where I haven't got any single play in 30 minutes

[10:05] {dino} i can

[10:05] {Threei}  he says effect of rescue plan can already be felt

[10:05] {ese} DECK stop .81

[10:05] {ese} stop .00 deck

[10:06] {Threei}  BEN

[10:06] {cosmo} i feel heavy equipment nearby

[10:06] {Threei}  - Believes fiscal stimulus will raise both demand and production and reduce job losses over next two years.

[10:06] {Threei}  - Economy will not recover without market stability, must be ready to take actions to return stability.

[10:06] {Threei}  - Believes it is better to move aggresively today, the alternative is "prolonged stagnation."

[10:06] {Threei}  - Large increase in US government debt is unwelcome, but a failure to act will be more costly in the end.

[10:06] {Threei}  - The Treasury selling bank assets will eventually add revenue.{TLT SPY EUR/USD}

[10:07] {Threei}  RIMM, watching for long on pullback under 38

[10:09] {magoo} dam..missed rimm

[10:09] {ese} out DECK .44 +.41

[10:09] {Threei}  wtg ese

[10:09] {geo} nice ese

[10:09] {dino} gj es

[10:09] {cujo} nice ese

[10:09] {Threei}  PRESIDENT OBAMA: 150K JOBS TO BE CREATED BY 2011, FIRST STIMULUS CONTRACTS TO BE SIGNED TODAY

[10:09] {ese} right out of vads book

[10:10] {Threei}  150K by 2011?

06[10:10] * geo frantically flipping pages

[10:10] {nemo} on top of the 3-4 million he's saving

[10:10] {ese} hmmmmmm????

[10:10] {ese} would be nice

[10:10] {nemo} JBE geo

[10:10] {geo} I am thinking of going on welfare = get a govt job

[10:11] {Threei}  ok ese, that does it... I will have to read it finally

[10:11] {dptl} tnx Ese deck +.31

[10:11] {geo}  fcn

[10:11] {geo} oops

[10:11] {ese} nice dp....

[10:12] {nemo} How low can FAS go?  Oh! How's DRYS doin'?

[10:13] {Threei} Short Setup: STT  .80 breakdown half lot

[10:14] {Threei}  stop above 22

[10:14] {dino} gj dp

[10:14] {nemo} in

[10:15] {dptl} ty...in stt .79

[10:15] {cujo} in

[10:17] {nemo} stopped

[10:17] {Threei}  no worky

[10:17] {dptl} stopped

[10:19] {cujo} ditto

[10:20] {dino} feels like open gap fill coming

[10:23] {dino} maybe not

[10:24] {Threei} Short Setup: CAT  .85 if stays below 22

[10:25] {pita} in

[10:29] {dino} mant sm l .20

[10:31] {nemo} this trade hanging on by "CAT" claws

[10:31] {geo} CAtastrophic

[10:32] {nemo} market dropping and CAT holding

[10:32] {nemo} boots Vad boots!

[10:33] {Onix} don't boot it, stomp on it please

[10:34] {nemo} put some strychnine in the cat food!

[10:37] {dino} mcd sm l .50 trig

[10:38] {Threei}  no worky

[10:38] {cujo} in mcd with you dino

[10:38] {Onix} stopped

[10:38] {Threei}  I don't have a grip on the market this morning

[10:38] {Onix} it is crazy times

[10:39] {dino} mant stopped -.31

[10:39] {fernp} stopped CAT

[10:39] {nemo} stomped CAT!

[10:39] {Threei}  well... after more than two weeks of winning streak, am I allowed two little stops?

[10:39] {Threei}  please someone say no, and I'll go on year-long vacation {G}

[10:39] {cujo} yeah, had a good run

[10:40] {ese} L .50 mcd with you dino

[10:40] {ese} 1/2

[10:40] {cujo} ARCA OTC symbols A - J currently unavailable.

[10:40] {cujo} FYI

[10:41] {cujo} not sure if it is just my exe system or street wide. 

[10:41] {magoo} very difficult this morning to read vad...u ok

[10:41] {nemo} get same message on IB

[10:41] {cujo} exciting times. 

[10:41] {magoo} {thee..more nice:)}

[10:41] {cujo} :)

[10:41] {geo} ummmm

[10:41] {geo} vad this is unacceptable

[10:41] {magoo} STT interesting

[10:41] {ese} stop mcd .33

06[10:41] * geo hiding

[10:42] {nemo} Exciting as a barbed wire wrapped sygmoidscope

[10:42] {cujo} assuming MCD stop is about .35?

[10:42] {Threei}  thank you Geo!

06[10:42] * Threei will be back in a year

[10:42] {geo} see i want you to take vacations !!

[10:43] {geo} is it the monastery?

[10:43] {ese} mcd wants up....steady buying pressure

[10:43] {Threei}  RIMM... pullback into 38 looks buyable

[10:44] {Threei}  watch market with it

[10:44] {dino} in at .70

[10:44] {dino} guys, on mcd stop is .23

[10:45] {Threei}  the way market acts, I would feel safer with pullback into 37.80

[10:46] {dino} out rimm .10, +.40\

[10:47] {Threei}  CAT, was it a shakeout?

[10:49] {nemo} ranges so  tight today

[10:49] {cujo} too tight.

[10:50] {Threei}  NQ is locked within 15 points from the open

[10:50] {Threei}  that's why we are getting shakes instead of moves

[10:50] {nemo} Obaminated market

[10:50] {cujo} shake and bake

[10:51] {magoo} STT VAD?

[10:52] {Threei}  bounce candidate mags, but really... how do you time it here?

[10:52] {Threei}  .65 is closest support

[10:52] {Threei}  but entry point is muddy

[10:52] {Threei}  and market sells down

[10:53] {dino} lol shake and bake, ricky bobbie

[10:53] {Threei}  RIMM is coming into .80

[10:53] {Threei}  watch market for entry signal

[10:53] {nemo} After yesterday's SPLAT!  looks like the market's trying to decide whether it should stay or go...and CAT is kissin the lows

[10:53] {dino} fdo sm l .75

[10:53] {dino} mcd stopped sorry guys

[10:53] {Threei}  CAT, that was rude

[10:54] {nemo} sneaky little C&H on it

[10:54] {Threei}  NY FED: HAS ELIMENATED EXECUTIVE-COMPENSATION LIMITS FOR TALF SECURITIZERS

[10:54] {Threei}  - Note: Earlier in Session -Federal Reserve Bank of New York will lend up to $200 billion to eligible owners of certain AAA-rated ABS backed by newly and recently originated auto loans, credit card loans, student loans, and SBA-guaranteed small business loans.

[10:54] {Threei}  - Program to run until Dec 2009

[10:55] {fernp} lets try again CAT?

[10:55] {Threei}  I start thinking, entry on bounce into resistance is better way for today fern

[10:55] {Threei}  breaks don't work

[10:56] {fernp} ok. ty

[10:56] {magoo} feels like FLUSH coming

[10:56] {Threei}  look how market drops yet CAT bounces of previous support

[10:57] {ese} oppps...come back to the computor and i'm stopped mcd .32

[10:57] {ese} oh well....

[10:57] {Threei}  off the bounce though it works... just very hard to time

[10:58] {nemo} MC looking like a short here Dino?

[10:58] {nemo} MCD

[10:59] {dino} yes, depends on markets imo

[11:04] {dino} filling gaps

[11:04] {Threei}  ok, gotta try again

[11:05] {Threei}  short CAST .85

[11:05] {dino} dji, s/p filled

[11:05] {Threei}  CAT

[11:06] {dptl} stop?

[11:06] {Threei}  .95

[11:06] {dptl} ok ty

[11:08] {Threei}  sigh

[11:08] {dptl} stopped

[11:08] {Onix} stopped

[11:08] {dawg} stopped

[11:08] {magoo} ditto

[11:13] {dino} new lows dji, s/p

[11:13] {magoo} prob program trading killing here

[11:13] {magoo} 70.40 was impotant support...lost

[11:14] {nemo} look @ Faz

[11:18] {Threei}  FED'S BERNANKE: "HOPES" US DEBT TO GDP RATIO DOES NOT EXCEED 60% - Q&A

[11:18] {Threei}  hopes?

[11:19] {Threei}  FED'S BERNANKE: TALF WILL CREATE 'IMMEDIATE' BENEFITS FOR CONSUMER, STUDENT, AND BUSINESS CREDIT; BANKING HAS YET TO STABILIZE BANKING - Q&A

[11:19] {Threei}  - regrets the gaps in oversight of AIG; says NY Insurance regulator did not have the capacity to provide full oversight of AIG.

[11:19] {Threei}  - says a good target for budget is a balanced "primary budget," that is budget excluding debt payments.

[11:19] {Threei}  - Believes that all major US banks are 'viable', no major US banks are 'zombie' institutions.

[11:22] {Threei}  look at this RIMM bounce

[11:22] {Threei}  engulfing both low and high of previous wave

[11:23] {Threei}  if there are ways to read this, I am not aware of them

[11:23] {dino} i was waiting at open gap 36.88

[11:25] {pita} who stepped on CAT's tail?

[11:25] {Threei}  CAT behaves differently today

[11:26] {cujo} l aapl .94

[11:26] {dino} can't get blood from died out dead cat

[11:26] {Threei}  lol

[11:27] {Threei}  nice entry cujo

[11:28] {cujo} thanks Vad

[11:29] {nemo} Vad...charts arenlt lined up with quotes, how do I fix

[11:29] {Threei}  what is behind?

[11:29] {Threei}  charts?

[11:30] {Threei}  Quotes-Swtch ChartServer

[11:30] {nemo} see...I didn't think

[11:30] {cujo} aapl +.24

[11:36] {Threei}  C

[11:36] {Threei}  FED'S BERBANKE: BANK IS WELL CAPITALIZED

[11:36] {Threei}  I guess that's why its stock performs so well

[11:36] {nemo} Yeah, the taxpayer keeps capitalizing it

[11:37] {Threei}  wait it gets better

[11:37] {Threei}  COMPANY IS 'UNDER STRESS', DOES QUALIFY AS 'WELL CAPITALIZED'

[11:39] {Threei}  I guess PPT proved its non-existence over last week or so

[11:40] {Threei}  or impotence

[11:40] {nemo} No, they've changed their name to the Plunge PERFORMANCE Team

[11:40] {nemo} New Year New Mission

[11:41] {Threei}  C

[11:41] {Threei}  FED WILL WORK WITH COMPANY TO MAKE SURE IT IS STABLE

[11:41] {Threei}  uh oh

[11:41] {Threei}  as they worked with whole US economy?

[11:41] {nemo} Destroy markets, destroy capitalism, usher in a new era of brother, comrade, and friend

[11:41] {Threei}  they made sujre it's stable alright

[11:44] {dino}  -6% s/p since fri close

[11:44] {nemo} sounds like my blood/alcohol level since Friday night

[11:45] {dino} lol

[11:46] {cujo} ss gs .95

[11:46] {nemo} short setup developing in CAT?

[11:46] {Threei}  hmm?

[11:47] {cujo} out 1/2 .79

[11:47] {nemo} Just got that vicious volume spike and not too much enthusiasm for the new high

[11:47] {Threei}  that looks like some block

[11:48] {nemo} what were they thinking?

[11:48] {cujo} out gs +.20

[11:48] {dino} gj

[11:48] {cujo} thanks

[11:49] {cujo} too early :(  mkt got me scalpy

[11:49] {nemo} bird in hand today cujo

[11:50] {cujo} yeah, feelin that.  

[11:51] {nemo} Looks like they had to get a pre-lunch spike out of the way

[11:51] {Threei}  lordy... look at DRYS

[11:52] {nemo} Quick...launch the lifeboats!

[11:52] {Threei}  or ESLR

[11:52] {Threei}  I don't know how investors can stomach this slaughter

[11:52] {nemo} can you say "delisting notice"

[11:52] {buyemsellem} I've posted my analysis of today's S&P action if anyone is interested

[11:52] {buyemsellem} http://www.filesavr.com/snapshot-3

[11:53] {nemo} quite the vocabulary

[11:53] {Threei}  lol

[11:54] {Threei}  I love it

[11:54] {nemo} Ain't enough toilet paper for this market

[11:54] {buyemsellem} thanks

[11:54] {buyemsellem} I think we may have entered the next stage, but I don't have a name for it yet

[11:55] {dino} may you live in interesting times

[11:55] {nemo} @#)*(& That!

[11:56] {buyemsellem} why the volume spike in the DOW

[11:56] {nemo} Maybe the Mayans were right...

[11:57] {geo} back.. did I miss anything?

[11:57] {nemo} 20 minutes?

[11:57] {geo} i miss playback

[11:57] {Threei}  more misery geo

[11:58] {geo} ahhh

[11:58] {geo} I am being whipped in my GLD spread....

[11:58] {geo} i guess it is a weapon

[12:01] {nemo} CAT being defiant

[12:02] {Threei}  [11:25] {Threei} CAT behaves differently today

[12:03] {Threei}  F

[12:03] {Threei}  REPORTS FEB VEHICLES SALES -48.4% V -47%E (UNADJUSTED)

[12:06] {nemo} Vad...look at DRYS!  This is strange

[12:06] {Threei}  wo cents bounce?

[12:06] {Threei}  10

[12:06] {nemo} kind of a joke

[12:07] {nemo} cat shot up .90

[12:13] {cujo} predictions for the day

[12:13] {cujo} djia -65, snp -10

[12:14] {dino} +250 dji

[12:15] {cujo} dino, you a bull?

[12:16] {dino} for today

[12:17] {Threei}  it starts feeling this way dino

[12:18] {nemo} yeah, CAT looks like it wants to go higher, FAS is strenthening

[12:18] {dino} turnaround tuesday

[12:19] {Threei}  PREVIEW: TREASURY SECRETARY GEITNER SCHEDULED TO TESTIFY BEFORE THE HOUSE WAYS AND MEANS COMMITTEE AT 12:30PMET

[12:19] {Threei}  ummm

[12:19] {nemo} Interesting

[12:19] {Threei}  unless terrific tim does his usual

[12:19] {dino} cedc sm l .75

[12:20] {Threei}  okay... let's look for one more pullback, then strong upward push

[12:21] {Threei}  RIMM and STT are candidates

[12:21] {Threei}  RIMM around 38

[12:21] {Threei}  STT around 21.30

[12:22] {Threei}  if Tim says anything good, FAS

[12:22] {nemo} will this be a "sell the women and children" trade?

[12:23] {Threei}  nah, not yet

[12:23] {Threei}  but can be quite a strong move for the day

[12:25] {Threei}  I hate buying just before his testimony

[12:25] {Threei}  guy has a knack for killing the market

[12:28] {KSystems} for some time now I've been watching the debate about whether to remove mark-to-market accounting or not. what exactly do they mean by mark-to-market? is it the same thing that says so on my daily broker statement?

[12:28] {dino} understatement

[12:29] {Threei}  Mark-to-market is an accounting methodology of assigning a value to a position held in a financial instrument based on the current market price for the instrument or similar instruments.

[12:29] {dino} used to mark at purchase and cash flow basis. m2m was removed in great depression 1930s. just brought back end of 2007

[12:29] {nemo} Yeah but..It's an estimate of the value of assets which are relatively illiquid.  Since there's no market, there's no accuracy, yet the valuations carries heavy regulatory/legal weight

[12:29] {geo} marked to magic?

[12:29] {dino} rightttttttttttttttttttttttt

[12:29] {nemo} got a dart?

[12:30] {dino} no market, regulators are saying worthless, thats my point, this real estate is not worthless

[12:30] {nemo} Well, it'll either be sell the news, or rocket blast

[12:30] {dino} further, it is not a "real" loss. just needs time

[12:31] {nemo} no, but given the contraction of credit and pools of eligible buyers and shoppers, what is the "true" value?

[12:31] {dino} and if it's current, why mark to market

[12:31] {Threei}  look http://en.wikipedia.org/wiki/Mark-to-market, scroll down to Effect on subprime crisis and Emergency Economic Stabilization Act of 2008

[12:31] {buyemsellem} i read that wiki article the other day

[12:32] {Threei}  president on TV

[12:32] {buyemsellem} that and the uptick rule. I wanted to ask you vad, did the uptick rule affect your shorting in any way?

[12:32] {Threei}  not really

[12:33] {Threei}  let me post,

[12:33] {Threei}  I just answered this in an e-mail couple days ago

[12:33] {dino} not for me, all done by computer anyway

[12:33] {nemo} yeah, you want me to post it?

[12:33] {Threei}  Elimination of uptick rule didn't change much. The thing is, it has been eroded over years, so eactual elimination was not a very big step. Moving from fractions to decimals decreased its significance greatly.

[12:33] {Threei}  The ARCA getting an exchange status led to practical elimination of the rule on many stocks. Then sophisticated algorithms instituted by many software

[12:33] {Threei}  further undermined it when designed the way to make execution more likley: when you entered sell short at 20 while bid was, say 20.10 and on downtick, instead of rejecting an order software would offer your shares at 20.10001 and chased it down offering above current bid by just a negligible amount, so first bid entered above the current or first hit at the ask would give you a fill.

[12:34] {Threei}  And then whe the rule was abolished - not many even noticed it on practice, so little role it played.

[12:34] {buyemsellem} very interesting

[12:34] {buyemsellem} yet some people are calling for its reinstatement

[12:34] {Threei}  let them... won't change much

[12:34] {buyemsellem} yup

[12:35] {Threei}  another feel good measure with no real effect on anything

[12:35] {dino} i agree

[12:35] {dino} doesn't matter

[12:35] {Threei}  TREASURY'S GEITHNER: PLAN TO STABILIZE FINANCIAL SYSTEM MAY COST MORE, $250B PLACEHOLDER 'NOT SPECIFIC REQUEST'

[12:35] {Threei}  - Failure to cut future deficits will reduce US living standards and crowd out investment

[12:35] {Threei}  - Remarks that more tightening in credit would create more foreclosures;

[12:35] {Threei}  - Notes that credit contraction has caused job losses and business declines{

[12:36] {Threei}  Nissan REPORTS FEB US SALES -37% Y/Y

[12:36] {Threei}  ese, patience... strange place we live in

[12:37] {Threei}  Feb real estate sales are up 63 % over Jan

[12:37] {dino} fwiw, last 3 houses in foreclosure i bid went at or above ask. i didn't get any of them

[12:37] {nemo} what state?

[12:37] {KSystems} thanks for the elaboration

[12:38] {dino} north carolina and pennsylvania

[12:38] {nemo} Well, I don't know about Penn, but NC has been an outlier in the Real Estate market, yes?

[12:39] {dino} you mean stronger? yes then

[12:39] {nemo} yes

[12:39] {buyemsellem} obama says now may be a good time to buy stocks

[12:39] {dino} never bid ask, so speculators are coming back

[12:39] {buyemsellem} investment advisor in chief

[12:40] {Threei}  I want to know his picks

[12:40] {cujo} i wanna see hit portfolio

[12:40] {buyemsellem} no kidding

[12:40] {cujo} his

[12:40] {Threei}  sharp dowtick

[12:40] {dino} citi, he already bought most of it...now ditch m2m and it survives

[12:40] {cosmo} hint... they'll be selling Nissanslike crazy soon

[12:40] {cujo} if market sells off after this i will be rolling on floor

[12:40] {magoo} cnbc has on left current obama and on right future obama in 8 yrs

[12:40] {Threei}  let's ee where it takes us

[12:41] {nemo} "This is the big one Weezie!:

[12:41] {buyemsellem} giethner and obama at the same time, this is too much

[12:41] {dino} roflol magoo

[12:41] {cujo} i thought this was going to happen over night...?

[12:42] {magoo} so vad..u thinking  if we get pos response..may e banks rebound

[12:42] {magoo} like stt

[12:42] {magoo} or gs

[12:42] {Threei}  STT is back into support

[12:43] {Threei}  watching market for reversal to the upside

[12:43] {nemo} and FAZ stronger

[12:43] {dino} apol, esi moving

[12:43] {Threei}  let's try .36

[12:43] {Threei}  if stays above .20 - .25

[12:44] {nemo} missed

[12:44] {magoo} teleported

[12:44] {Threei}  scalpers got their 1:1 quickly

[12:44] {Threei}  anyone got it?

[12:44] {magoo} shit i went right at post and missed

[12:44] {magoo} i went .36

[12:44] {Threei}  ugh

[12:45] {nemo} we need neural implants

[12:45] {magoo} but really..im thinking more upside if IF mkt goes

[12:45] {Threei}  clean pullback right into zone I wanted and just as clean bounce...

[12:45] {cujo} missed it

[12:45] {cujo} happened soo fast

[12:45] {Threei}  yeah

[12:45] {magoo} good call..just popped

[12:45] {magoo} {nice again:)}

[12:45] {magoo} HERS TIM

[12:46] {magoo} HERES

[12:46] {nemo} no...you were right the first time

[12:47] {cujo} Vad, does Rig look ready to take a dive?

[12:47] {Threei}  only if market drops

[12:48] {nemo} same with CAT?

[12:48] {Threei}  no

[12:48] {Threei}  I don't have a read on CAT at all

[12:48] {Threei}  RIG chart is failry similar to one of market

[12:48] {Threei}  CAT lives its own life today

[12:49] {cujo} ss rig .88

[12:49] {Threei}  RIGs range is 56.80 - 57

[12:49] {Threei}  whichever way market moves from here, RIG should follow

[12:49] {cujo} y, stop at .06

[12:51] {Threei}  there you go RIG

[12:51] {Threei}  thing of beauty

[12:51] {cujo} down with rigg

[12:51] {cujo} rig

[12:52] {cujo} out 1/2 .63

06[12:52] * Threei slaps cujo around a bit with a large roll of cash

[12:53] {nemo} CAT decided to follow rig

[12:53] {cujo} out 2nd .47

[12:53] {Threei}  crapshot

[12:53] {nemo} wow cujo

[12:53] {nemo} yeah, 

[12:53] {Threei}  it didn't follow many previous market drops today

[12:53] {nemo} no...definitely lower probability, coin just bounced heads this time

[12:54] {magoo} so far tim a bust mkt wisew

[12:54] {nemo} Yeah FAS sinking FAZ climbing

[12:54] {Threei}  TM

[12:54] {Threei}  FEB US SALES DOWN 37%

[12:54] {Threei}  - Note that was v -32% in January m/m

[12:55] {Threei}  DAI

[12:55] {Threei}  REPORTS MERCEDES-BENZ USA FEB VEHICLES SALES -23.5%, TO 14,199 UNITS

[12:55] {nemo} does that mean December to January or January over January

[12:56] {Threei}  Feb sales - I take it as Feb sales...

[12:57] {Threei}  over Jan ones

[12:57] {nemo} wow! not from last year...

[12:58] {Threei}  maybe I am mistaken

[12:58] {Threei}  seems way too low

[12:58] {nemo} not necessarily

[12:58] {Threei}  yeah, what's "too low" these days

[12:59] {nemo} if CAT consolidates around .75 and then market continues lower, would that be viable short?

[12:59] {Threei}  ask UAUA what too low is

[12:59] {nemo} or DRYS

[12:59] {Threei}  I don't know, I just want to drop CAT for today

[13:00] {nemo} hehehehehehehehe

[13:00] {Threei}  why pursue the name that changed its ways

[13:00] {pita} later all, happy hunting

[13:00] {Threei}  it worked like charm for two weeks

[13:00] {Threei}  trying to do the same qwith it today is pure stubborness

[13:00] {Threei}  take care pita

[13:00] {ese} had to teach a class....i'm back

[13:01] {Threei}  12:36] {Threei} ese, patience... strange place we live in

[13:01] {Threei}  [12:37] {Threei} Feb real estate sales are up 63 % over Jan

[13:02] {ese} definately......my houses have not lost any value in my area

[13:02] {Threei}  UAUA... every time it dropped this low, it staged drastic comeback over last months

[13:02] {ese} prices have stayed the same if not risen

[13:03] {Threei}  no kidding... very resilient

[13:03] {Threei}  and I have a theory why that is

[13:03] {Threei}  anyone has insight on UAUA?

[13:03] {ese} shot

[13:03] {ese} shoot

[13:03] {Threei}  any bankruptsy threat?

[13:04] {ese} no

[13:04] {Threei}  'cause it's very tempting as a swing

[13:04] {ese} ah thought you were talking about my house

[13:04] {Threei}  yes

[13:04] {Threei}  here it is

[13:04] {cujo} very tied to oil though...

[13:05] {dino} uaua? dk, unless travel is dropping

[13:05] {cujo} the UAUA

[13:05] {Threei}  unlike most of other places in Canada, we have unusually low % of homeowners who must move in pursuit of work,

[13:05] {ese} have to sign off for a few minutes

[13:05] {Threei}  and very high % of people with houses paid off.

[13:06] {Threei}  It transpirres into situation where homeowners unhappy with prices simply take houses off the makret

[13:06] {patience} steady stream of people retiring here, generational behaviour

[13:06] {Threei}  since they have no pressure to sell

[13:06] {Threei}  yup

[13:06] {Threei}  so... volume of sales drops, prices don't

[13:07] {Threei}  well, not to such degree anyway

[13:08] {Threei}  upward move was meek

[13:08] {Threei}  had some wings until these guys opened their mouth again

[13:12] {dino} gs pain

[13:13] {Threei}  market spike is coming

[13:13] {Threei}  AAPL worth a try

[13:13] {Threei}  with stop under .50

[13:14] {Threei}  anyone caught it, feel free to take profit here

[13:14] {nemo} oh, the break was anywhere at the call?

[13:15] {Threei}  there was no break

[13:15] {cujo} nice call Vad

[13:15] {nemo} yeah...just enter

[13:15] {Threei}  just where it was during the alert

[13:15] {Threei}  .65 . .68 at the time

[13:15] {cujo} +.20

[13:15] {Threei}  wtg cujo

[13:15] {Threei}  pure following the market

[13:15] {Threei}  and market was going to spike

[13:16] {magoo} holy crap..naz green

[13:18] {ese} am back again

[13:18] {Threei}  so, guess who works on new market regulations

[13:18] {magoo} ?

[13:18] {Threei}  Among those attending Wednesday's meeting at the White House was House Financial Services Committee Chairman Barney Frank.

[13:18] {Threei}  The Massachusetts Democrat has already begun working on legislation that would establish a regulator to oversee the kind of systemic risks that led to the market free fall last year.

[13:18] {Threei}  why am I not jazzed

[13:19] {cujo} then he's gonna walk on water

[13:20] {Threei}  this I would watch with interest, under two conditions

[13:20] {Threei}  1. no bottom for couple hunrded ft

[13:20] {Threei}  2. no life-saving devices or crews

[13:21] {cujo} ha ha ha

[13:21] {nemo} And sharks in the water..or Pirhhana

[13:21] {cujo} def

[13:21] {magoo} roflol

[13:22] {Threei}  IMO, one of those caused most harm to whole system

[13:22] {Threei}  somehow he is among these emanating righteous indignation now

[13:23] {nemo} he's from massachusetts, which makes him a masshole

[13:23] {magoo} vad its time for my ?..yuour thoughts here

[13:24] {Threei} above was not a call for his physical death but rather for his early retirement

[13:24] {Threei}  that can't come too early

[13:24] {Threei}  mags, I had strong feeling of a sharp upward move for today... before all these speeches

[13:24] {nemo} Hey...it would be no different that going to the Coliseum for a little Christians vs. Lions entertainment

[13:28] {dino}  markets are dead

[13:28] {Threei}  I like RIMM's rfelative strength

[13:29] {Threei}  hmmm

[13:29] {Threei}  SBUX CEO: OBSERVING DEMAND FOR INSTANT DECAF COFFEE THROUGH GROCERY CHAINS

[13:34] {dino} we would have a better market if these politicians would get off the tv

[13:34] {Threei}  both market and RIMM at support likely to provide a bounce

[13:34] {Threei}  watc market for upticks to scalp RIMM

[13:36] {nemo} cujo, catch that next leg down in rig?

[13:36] {cujo} i didn't

[13:37] {cujo} didn't have it on my screen.  You play it?

[13:37] {nemo} I was Magooing it...saw it when I came back

[13:38] {Threei}  in .43

[13:38] {nemo} in what?

[13:38] {nemo} RIMM?

[13:38] {magoo} .45 here

[13:38] {cujo} in .45

[13:38] {dptl} stop .33?

[13:38] {Threei}  [13:34] {Threei} both market and RIMM at support likely to provide a bounce

[13:38] {Threei}  [13:34] {Threei} watc market for upticks to scalp RIMM

[13:39] {Threei}  .33 or under .30

[13:40] {dptl} grabed .44

[13:41] {dawg} in .44

[13:42] {Threei}  can't tell whether it's just a scalp of capable of more

[13:42] {Threei}  decide for yourself guys

[13:42] {Threei}  half out for me

[13:43] {Threei}  .59

[13:43] {cujo} there she goes

[13:43] {Threei}  stop to .38

[13:46] {Threei}  soft toilet paper is not eco-friendly

[13:46] {Threei}  yup... sandpaper is

[13:46] {cujo} its arse friendly

[13:46] {nemo} reminds of a great slam

[13:47] {Threei}  I hope researcher who did the study is first to start using sand paper

[13:47] {Threei}  and I'll wait for his report

[13:47] {magoo} bumped

[13:47] {Threei}  GM

[13:47] {Threei}  REPORTS FEB VEHICLES SALES -52.9% V -49%E

[13:48] {magoo} am i here??

[13:48] {Threei}  yes

[13:48] {nemo} Yes

[13:48] {magoo} is dino?

[13:48] {Threei}  no

[13:49] {Threei}  13:46] * magoo Quit (Ping timeout: 121 seconds)

[13:49] {Threei}  [13:48] * dino Quit (Ping timeout: 121 seconds)

[13:49] {Threei}  your ISP barped

[13:53] {dptl} fly rimm fly

[13:54] {Threei}  Honda REPORTS FEB US VEHICLE SALES -35.4% Y/Y, AT 71,575 UNITS

[13:54] {dptl} offering 39 lol

06[13:54] * Threei slaps dptl around a bit with a large bottle of AntiGreedin

[13:55] {dptl} lol

[13:55] {Threei}  amazing how RIMM held above the stop level

[13:55] {Threei}  I am out in full

[13:55] {Threei}  .77

[13:55] {magoo} out .77 TY BOSS

[13:55] {Threei}  +.34

[13:55] {magoo} he he

[13:55] {Threei}  welcome mags

[13:56] {Threei}  ok... almost flat the day

[13:59] {Threei}  jeez... dp may get his 39

[13:59] {dptl} shhhhh

[13:59] {Threei}  what shhh, I am trying to jinx it

[13:59] {dptl} ok 

[13:59] {Threei}  how can I jinx it if you shush me

[13:59] {dptl} lol

[13:59] {Threei}  :)

[14:01] {dptl} .74 stop

[14:02] {magoo} vad..i know u thought..but now what for mkt here?

[14:02] {Threei}  well... market weants to stage a strong close but you do know that as soon as it becomes a real threat president will go back on TV, right?

[14:03] {magoo} right

[14:04] {Threei}  lol, took me 2/3 of the day to get back in the saddle

[14:04] {nemo} What are you riding, a CLydsedale?

[14:05] {Threei}  ok dp, have nercy

[14:05] {Threei}  you are up 50 cents

[14:05] {Threei}  you really willing to risk it for the last 5?

[14:05] {nemo} rootin for ya' dp

[14:06] {cujo} gs ready to break 82?

[14:06] {Threei}  I'd rather try to get it on pullback

[14:06] {Threei}  GS is not really a breakout stock

[14:06] {cujo} got ya

[14:07] {Threei}  on pullbacks though it works much better

[14:08] {Threei}  YESSS!!!!

[14:08] {Threei}  president on TV

[14:08] {Threei}  third time today

[14:08] {Threei}  told ya

[14:09] {magoo} what station?

[14:09] {Threei}  CNN

[14:10] {Threei}  anyone ever seen anything like this?

[14:10] {nemo} Madonna

[14:10] {Threei}  I mean, I am here fairly recently... it's just my third president

[14:11] {nemo} Billy liked the limelight, not like this

[14:11] {buyemsellem} I've heard when Grover Cleveland used to go on television the same thing would happen

[14:11] {cujo} http://obamaclock.org/

[14:11] {Threei}  but, did ihe do it every day, and a few times on some days?

[14:11] {dino}   egomaniac

[14:11] {cujo} some late day humor

[14:16] {dptl} he he...out rimm ty

[14:16] {magoo} nice dp

06[14:17] * nemo hands dptl a nice roll of cash

[14:18] {dino} sm l deck .70

[14:19] {ese} have a great day see you tomorow

[14:20] {Threei}  take care ese

[14:20] {Threei}  and you dp... I don't even know what slap with

[14:25] {Threei}  ok... let's hope there is no 4th speech

[14:26] {magoo} Q read vad?

[14:27] {Threei}  upward move is not over yet

[14:27] {Threei}  pullbacks are for buying

[14:27] {Threei}  RIMM if pulls back into .90

[14:28] {dptl} dold ya vodka the best drink....not some kind of antigreedin...lol

[14:28] {Threei}  true... hard to argue with fact :)

[14:31] {Threei}  wow... things bounce from above the support levels... been quite a while since we saw that

[14:34] {Threei}  next leg up is about to begin

[14:34] {magoo} you are great at reading legs vad

[14:35] {Threei}  only when we get a trend

[14:35] {Threei}  no legs in a swamp, mind you

[14:36] {KSystems} Today an important national archive building collapsed in germany

[14:36] {Threei}  wow... what happened?

[14:36] {KSystems} i bet "they" did it intentionally.

[14:37] {KSystems} tomorrow they'll say "democracy? where, in germany? never! proove it!"

[14:37] {nemo} which archive

[14:37] {KSystems} in cologne

[14:37] {KSystems} they dont know why

[14:37] {Onix} short sqeeze?

[14:37] {nemo} Not close to the river?

[14:39] {KSystems} no

[14:40] {KSystems} http://edition.cnn.com/2009/WORLD/europe/03/03/germany.cologne.building.collapse/index.html

[14:41] {Threei}  feels like one more little spike, then much deeper pullback than a few last ones is coming

[14:42] {Threei}  here is spike... pullback time now

[14:43] {Threei}  BAC

[14:43] {Threei}  S&P CUTS RATINGS

[14:43] {magoo} i  am in AWWWWW

[14:43] {Threei}  and here is deep pullback starting

[14:43] {magoo} TY

[14:44] {magoo} was in GS..u called pullbk..i exited .94

[14:45] {Threei}  little bounce now and another sharp leg down

[14:48] {dino} gxdx

[14:49] {magoo} vad..rep barney frank called and asked for your phone number..sounded p#ssed

[14:49] {nemo} that might not be why he wants Vads number

[14:49] {Threei}  oh boy

[14:49] {Threei}  rofl

[14:49] {cujo} ha ha ha

[14:49] {cujo} he saw pic on realitytrader.com

[14:49] {nemo} sorry...it was just sittin' there

[14:50] {Threei}  no read here... so far market did everything as told

[14:50] {Threei}  every spike and pullback

[14:50] {buyemsellem} i thought you were predicting? so you're telling it what to do...

[14:51] {Threei}  hehe

[14:51] {magoo} ok..i just got fat for day...so we need a few but no misses

[14:51] {magoo} flat lol

[14:51] {Threei}  too late magoo

[14:51] {Threei}  that image is too vivid

[14:51] {Threei}  magoo getting fat for the day

[14:52] {dino} more like for life

[14:53] {Threei}  STT played step in step with every spike and pullback

[14:54] {cosmo} sounds like magoo had a good day...

[14:54] {Threei}  fattening at least

[14:54] {magoo} nah...was down allday until now

[14:54] {magoo} stressuing

[14:55] {Threei}  one more spike now

[14:55] {Threei}  not big

[14:55] {magoo} im working on a new theory here for us...but not convinced to share yet

[14:55] {Threei}  then no read again

[14:56] {Threei}  US TREASURY AND FED EVALUATING A SPECIAL TREASURY FINANCING TO ASSIST FED IN ITS MANGEMENT OF BALANCE SHEET; FED MAY ISSUE OWN DEBT - UNCONFIRMED REPORT

[14:56] {Threei}  {SPY TLT}

[14:56] {nemo} heard that a couple of months ago

[14:58] {Threei}  is life back in LVS or just a one day wonder...

[14:58] {dino} ok, only 159 to go

[14:58] {Threei}  news earlier:

[14:58] {Threei}  CEO: SALE OF TWO MACAU RETAIL MALLS IS POSSIBLE WITHIN NEXT TWO MONTHS, ROOM OCCUPANCY IN VEGAS AT PALAZZO, VENETIAN ARE OVER 90%

[14:58] {Threei}  - Expects a combination of cost cuts, mall sales and rising business in Macau to prevent LVS from violating loan covenants.

[14:58] {Threei}  - Sees shaving an additional $200-250M from annual operating expenses

[15:00] {buyemsellem} occupancy or vacancy?

[15:00] {buyemsellem} that doesn't sound so bad

[15:01] {buyemsellem} did they go to $50/night for presidential suite?/

[15:01] {cujo} just looked at about 230/night

[15:04] {Threei}  let's keep an eye on UAUA folks

[15:04] {Threei}  almost a buck bounce with this market move

[15:05] {Threei}  lousy 60 =- 80 points DJI translate into quite sizeable move on this one

[15:05] {Threei}  feels coiled

[15:06] {Threei}  if we get anything decent, like +200-300 day, should hit 5 easily

[15:08] {dino} 2-3 bounce 3-4 sell

[15:11] {Threei}  REPORTEDLY US INDIVIDUAL AND COMPANY BANKRUPTCY FILINGS ROSE 37% Y/Y TO 103K IN FEB

[15:12] {magoo} very dissappointing if mkt fizzles out AGAIN

[15:12] {Threei}  RIMM is back into sdupport

[15:12] {nemo} that's what it's been doing the last hour

[15:14] {dino} yes

[15:18] {Threei}  feels like drop is done

[15:18] {Threei}  one more little pullback, then leg up

[15:18] {Threei}  nothing huge but still

[15:18] {Threei}  watch RIMM to define support,

[15:18] {Threei}  then .50 break is long

[15:18] {magoo} AAPL here?

[15:19] {Threei}  AAPL, I'd prefer pullback to .50

[15:19] {Threei}  here it, market strength is for entry now

[15:20] {nemo} for aapl or rimm

[15:20] {Threei}  both

[15:20] {Threei}  AAPL did exactly what told

[15:20] {Threei}  RIMM still needs to break

[15:20] {nemo} above .50?

[15:20] {cosmo} uaua?

[15:21] {Threei}  UAUA , too close to eod for it... rather slow one, unless we get strong market move

[15:22] {cosmo} k

[15:22] {Threei}  STT

[15:22] {Threei}  PRICES $1.5B IN 3-YEAR FDIC-BACKED NOTES AT 88 BPS/TREASURIES

[15:22] {Threei}  RIMM, aggressive entry for double bottom is probably better idea

[15:22] {nemo} owww

[15:23] {dino} sell the opening gaps up, buy at 2:00 and sell at 3:00

[15:23] {Threei}  GM

[15:23] {Threei}  BONDHOLDERS TO MEET WITH OBAMA AUTO TASK FORCE ON THURSDAY -CNBC

[15:24] {Threei}  in .18

[15:24] {Threei}  stop under .10

[15:24] {cujo} which stock?

[15:25] {Threei}  RIMM was on watch

[15:25] {dino} let me guess, preferred wiped out and bonds wiped out, govt debt on gm to common at 49%. its like they are slowing taking over the country

[15:25] {cujo} got it.  thanks. 

[15:26] {Threei}  no worky

[15:26] {Threei}  looks like this GM headline was percieved exactly this way dino

[15:27] {Threei}  and sent market down screaming

[15:27] {Threei}  shaekout... grr

[15:28] {dino} wouldn't surprise me, the administration hates investors and speculators

[15:28] {Threei}  yeah, any wonder that market goes down ever since they took power

[15:28] {nemo} Obama is strongly socialist

[15:29] {cosmo} Mutual of Obama...

[15:29] {dino} yes, tricked most during campaign, said he was center like clinton

[15:30] {dino} neg. close will be 13 of last 14 days

[15:31] {Threei}  quite a record

[15:31] {dino} last positive month was aug '08

[15:31] {cosmo} time to buy then

[15:33] {dino} you would think so

[15:33] {cosmo} foreclosures will be getting scarce....

[15:35] {Threei}  REMINDER: A NUMBER OF S&P INDEX CHANGES GO INTO EFFECT AFTER THE CLOSE TODAY

[15:35] {Threei}  - HRL and VTR entering the S&P 500 replacing ACAS and JNY

[15:35] {Threei}  - ACM, LII, and TRMK will be added to the S&P MidCap 400 Index

[15:35] {Threei}  - CPSI, SCOR, and SXE wil be added to the S&P Smallcap 600 Index

[15:35] {Threei}  bands tightened greatly

[15:35] {Threei}  sharp move is coming

[15:38] {Threei}  now we know direction too, lol

[15:41] {cosmo} UAUA going into the Hudson

[15:41] {Threei}  just moves with market

[15:42] {dino} uaua pricing like an option

[15:42] {dino} as is drys

[15:43] {dino} traffic down 11% airlines

[15:44] {Threei}  CHRYSLER LLC REPORTS FEB US SALES -44%, TO 84K UNITS

[15:44] {Threei}  - says $1.5B TARP loan has begin to provide some traction to retail sales results.

[15:44] {Threei}  - reports 100 day supply of inventory.

[15:45] {Threei}  well, move fizzled out today

[15:45] {Threei}  but heck... market showed a lot of resilience in the face of 3 (three) speches

[15:45] {Threei}  plus Ben and Tim

[15:46] {magoo} today???? fizzles out 13 of 14

[15:46] {Threei}  not every day out of those market even tried to move

[15:46] {Threei}  actually... just one, lol

[15:49] {Threei}  COMPX is green

[15:49] {Threei}  barely

[15:50] {Threei}  DJI is -35 which by today's standard is pretty much flat

[15:53] {dino} don't want a green close, only allowed one/week

[15:54] {Threei}  it's a shame to waste it on such miserish gain

[15:54] {cosmo} PDLI wont die

[15:54] {dino} thats what i'm talking about

[15:54] {dino} would rather 5 in a row down

[15:54] {Threei}  see how UAUA obeys the market?

[15:55] {Threei}  definitely candidate for the day when we get that thing

[15:55] {Threei}  what do you call it

[15:55] {Threei}  ummm

[15:55] {Threei}  you know... when the market goes up

[15:55] {cosmo} mo

[15:56] {Threei}  dp got his 55 cents gain and left... how not compradish by him

[15:56] {Threei}  cmradish

[15:56] {Threei}  whatever

[15:59] {Threei}  Dow heard you dino

[15:59] {Threei}  returned in red

[15:59] {dino} out deck .55 -.15

[15:59] {dino} stupid, had .50 on it

[16:00] {Threei}  okay guys

[16:00] {Threei}  day full of nothingness

[16:00] {cujo} crazy times.

[16:00] {Threei}  indeed

[16:00] {Threei}  have a good evening, see you tomorrow

[16:00] {vint} what a day, bye all

[16:01] {nemo} tschuss

[16:01] {dino} as they say "darkness lies an inch ahead"

[16:01] {dptl} have a good evening all

[16:01] {nemo} or, is that light at the end of the tunnel, or an oncoming train

[16:02] {dino} new lows s/p, dji

[16:02] {dino} that works too nemo

[16:03] {Threei}  wow

[16:03] {Threei}  what happened?

[16:03] {cujo} what do you mean?

[16:03] {magoo} huh??

[16:03] {dino} ?

[16:04] {Threei}  sharp dive after close

[16:04] {magoo} the usual

[16:04] {Threei}  ah

[16:04] {Threei}  okay then

[16:05] {dino} -10% dji one week, -11% s/p one week, -9% ndx one week....impressive

[16:05] {magoo} this is bad vad..the mkts cant holdd green and christ we are at 6700

[16:05] {Threei}  quite a selloff

[16:06] {Threei}  actually mags, it's worse than it looks

[16:06] {Threei}  look at it this way:

[16:06] {dino} -13% area was last time we had the "big" bounce 02/24/09

[16:06] {dino} fwiw

[16:06] {Threei}  DOW is in the middle between 1930 low and absolute high,

[16:06] {Threei}  which seems to be 50% retracement

[16:06] {dino} that too, had 5 down days in a row, as this

[16:06] {Threei}  but in fact it's much worse

[16:07] {Threei}  first, it's unadjusted for inflation,

[16:07] {Threei}  and second, index gets readjusted periodically,

[16:07] {Threei}  weeding out week stock and adding stroneger, so its performance is distorted to the upside

[16:08] {Threei}  week = weak

[16:09] {magoo} to afraid to short..but it never goes up...never

[16:09] {Threei}  nope

[16:09] {Threei}  until it does

[16:09] {Threei}  then it never goes back down

[16:09] {dino} wow mcd did not hold much, was up 1.50

[16:09] {buyemsellem} until it does

[16:09] {Threei}  right

[16:10] {dino} in the end there can be only one