Mar 25 2009

Morning was very nice with all the usual plays: FAS, BAC, WFC, GE longs. We did catch a whiff of reversal and shorted FAS and GE  but unfortunately limited ourselves to scalping profits.                                                                         

Session Time: Wed Mar 25 00:00:00 2009

[07:29] {nemo} Haroo

[08:21] {Threei}  Good morning

[08:22] {i2romantis} morning vad

[08:22] {Threei}  i2r :)

[08:29] {cosmo} DRYS trys

[08:30] {nemo} cosmic :)

[08:30] {Threei}  *FEB DURABLE GOODS ORDERS: -+3.4% V -2.5%E;

[08:30] {cosmo} :)

[08:30] {nemo} Vad what does "-+3.4%" mean

[08:30] {cosmo} .78 so far

[08:31] {Threei}  FEB DURABLE GOODS ORDERS: +3.4% V -2.5%E; DURABLES EX-TRANSPORTATION: +3.9% V -2.0%

[08:31] {Threei}  - Prior Durables revised from -4.5% to -7.3% (second revision)

[08:31] {Threei}  - Prior Durables Ex Transportation revised from -3.0% to -5.9% (second revision)

[08:32] {Threei}  steady stream of improving economic indicators lately

[08:43] {vinod} good morning to all

[08:44] {Threei}  vinod :)

[08:45] {fernp} Hello everybody

[08:45] {nemo} morning

[08:45] {Threei}  RBS ANALYSTS SEE THE ECB MAKING A 50BPS CUT TO THE PRIME POLICY RATE AT THEIR APRIL MEEING

[08:45] {Threei}  fern, nemo :)

[08:48] {Threei}  be back in 5

[08:55] {pita} Hi all

[08:55] {Threei}  pita :)

[08:56] {dino} gm all

[08:57] {Threei}  dino :)

[08:57] {Threei}  wow

[08:57] {Threei}  you connected without torture today?

[08:57] {larisa} good morning :)

[08:57] {Threei}  larisa :)

[08:57] {magoo} kjhsdakeafhkddak

[08:58] {Threei}  mags :)

[08:58] {dino} me?

[08:58] {Threei}  yes

[08:59] {dino} i lost the old way on a security upgrade. using the internet

[08:59] {dino} no slapping

[09:06] {ese} morning

[09:06] {Threei}  ese :)

[09:06] {Threei}  BAC and WFC look the strongest among finnies

06[09:07] * magoo slaps laserdave around a bit with a large trout

[09:07] {magoo} sigh

[09:07] {Threei}  morning warm-up?

[09:07] {magoo} i miss when we all were childish and slap fest 

[09:08] {i2romantis} FAS moving well so far

[09:08] {Threei}  yup

[09:13] {cosmo} TIBX

[09:13] {magoo} vad..new NEWS RIMM?

[09:13] {dino} sssssssssssssssslap

[09:13] {magoo} ok

06[09:13] * magoo slaps dino around a bit with a large trout

06[09:14] * magoo slaps dino around a bit with a large trout

06[09:14] * magoo slaps dino around a bit with a large trout

[09:14] {dino} fri close gap around 41.60 magoo fwiw

[09:14] {Threei}  06:02am [RIMM] Shares assumed underweight at JP Morgan, price target $40

[09:14] {Threei}  03/24/09 05:30pm [RIMM] Kaufman Initiates RIMM with Hold, price target: $50.00

[09:16] {Threei}  03/25/09 03:06am

[09:16] {Threei}  [BAC] Bank of America Corp CEO Lewis: Intend to begin repaying bailout funds in April - LA Times

[09:16] {Threei}  - Lewis told the LA Times the bank would seek to payback th ebulk of its goverment funds once the financial system becomes more sound.

[09:16] {Threei}  - He defended purchases of Countrywide Financial and Merrill Lynch as strategically sound, long-run plays.

[09:16] {Threei}  - Lewis stated that he has seen no indicators from US gov that BAC will fail gov stress tests.

[09:16] {Threei}  - Note that BAC is tje 3rd largest benefactor of US aide behind AIG and C. BAC is currently paying the US gov $2.85B in dividends per year.

[09:16] {Threei}  - Reminder: On March 18, CEO Lewis said BAC could pay back $45B in TARP funds in 2009 or at the start of 2010. Earlier, on March 2, he called BAC's second request for $20B of govt aid for Merrill transaction a'tactical error and said it was possible BAC could pay back TARP funds in two or three years.

[09:18] {dptl} good morning

[09:18] {magoo} oph oh..vad..i did new download and now i do not see isld or inet in route slection

[09:19] {Threei}  dp :)

[09:19] {magoo} thers a naz route??

[09:21] {Threei}  Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.

[09:21] {magoo} HOW?

[09:21] {magoo} sorry, u know me

[09:21] {vint} good morning all

[09:21] {Threei}  I've no idea

[09:21] {Threei}  ask dave

[09:22] {Threei}  I haven't updated yet

[09:22] {Threei}  vint :)

[09:23] {pita} what's with DRYS?

[09:24] {Threei}  bad earnings

[09:28] {ese} makke sure you don't like it too much down there in the Bahama's Vad.......we like you just fine up here on the island???

[09:28] {Threei}  for our friend from Poland:

[09:28] {Threei}  Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.

[09:28] {Threei}  oops, wrong post

[09:28] {magoo} im scared

[09:28] {Threei}  *(PD) POLAND CENTRAL BANK CUTS INTEREST RATES BY 25 BPS TO 3.75%, AS EXPECTED

[09:29] {Threei}  lol ese

[09:29] {nemo} RIMM

[09:30] {cosmo} DRYS pre mkt high = 4.89

[09:30] {Threei}  watch WFC for bounce

[09:30] {cosmo} gonna test

[09:31] {Threei}  would like to see a quick dive under 16

[09:32] {Threei}  oh well

[09:32] {ese} L HIG .50

[09:33] {ese} ouuuuuuuuu was thinking FAS.........

[09:33] {Threei}  looks like entry on pullbacks is a theme

[09:34] {Threei}  FAS

[09:34] {Threei}  around .50

[09:34] {Threei}  wtih stop under .40

[09:34] {Threei}  BAC

[09:34] {Threei}  .70 break

[09:35] {Threei}  stop under .60

[09:35] {nemo} in bac

[09:36] {dino} v hurt

[09:36] {Threei}  FAS first strength from here

[09:36] {magoo} in .43

[09:36] {Threei}  yup

[09:36] {Threei}  quite hectic action

[09:37] {Threei}  but should become more streamlined

[09:39] {Threei}  WFC .11 long if holding above 16

[09:40] {Threei}  US TREASURY SEC GEITHNER: RESOURCES STILL REMAIN IN TARP, WILL BE DIFFICULT TO REPLENISH FUNDS ONCE USED

[09:40] {Threei}  sheesh

[09:40] {Threei}  can they all just shut up?

[09:41] {Threei}  half out FAS

[09:41] {Threei}  scalpers know, right?

[09:41] {magoo} out .56 TY

[09:41] {Threei}  half out WFC

[09:42] {wulff} got WFC ty

[09:43] {Threei}  WFC stop to .08 for the balance

[09:43] {magoo} out wfc TY

[09:43] {Threei}  FAS stop to .45 for the balance

[09:43] {Threei}  BAC is laggard

[09:44] {Threei}  not sure if it's just biding its time or has no gas

[09:44] {Threei}  if uncomfortable, trail stop to .64

[09:45] {Threei}  WFC baby

[09:45] {Threei}  1/4 more out .40

[09:45] {Threei}  stop to .19

[09:46] {Threei}  BAC, you are becoming irritating

[09:46] {magoo} yea

06[09:46] * Threei kicks BAC in the rear

[09:47] {Threei}  WFC, my little beauty

[09:47] {Threei}  out .47

[09:47] {Threei}  +.35

[09:47] {Threei}  did I kick wrong side BAC?

[09:48] {Threei}  out

[09:48] {Threei}  it annoyed me

[09:48] {nemo} yeah and then it ran into fas

[09:49] {ese} out HIG ..50 even ...no clear direction

[09:49] {ese} dn now

[09:50] {Threei}  GE

[09:50] {Threei}  yesterday's high .91

[09:50] {Threei}  looks like the thing decided to move for real

[09:51] {Threei}  let's see if we get pullback

[09:51] {Threei}  .80 - .85 zone

[09:51] {Threei}  FAS, 1/4 more out

[09:51] {Threei}  .65, +.22

[09:53] {pita} leaving early today - gl everyone

[09:53] {Threei}  take care pita... not bad for 20 minutes of work, lol

[09:54] {dino} \gmcr sm l .40

[09:54] {fernp} closed BAC +.05 ty. Was uncomfortable w/it

[09:55] {Threei}  can't blame you really

[09:55] {Threei}  thing seriously lags the rest

[09:56] {Threei}  US TREASURY GEITHNER: OPEN TO IDEA OF SDR LINKED CURRENCY SYSTEM

[09:56] {nemo} Case of Kettle 1 please

[09:57] {Threei}  give me some cave to crawl in and never hear from these guys again

[09:57] {Threei}  until they have something to say asbout real issues

[09:57] {nemo} cement up the entrance

[09:57] {Threei}  US TREASURY GEITHNER: "OPEN" TO IDEA OF SDR LINKED CURRENCY SYSTEM SUGGESTED BY CHINA; USD WILL BE LINKED TO GOOD US POLICY

[09:57] {Threei}  and install couple machine-guns on entrance

[09:57] {Threei}  with motion sensors

[09:59] {Threei}  GE won't pull back

[09:59] {Threei}  11 break is obvious trigger

[09:59] {Threei}  hate breaks on these stocks

[09:59] {Threei}  discretionary trade guys

[09:59] {Threei}  decide for yourself whether you like it or not

[09:59] {wulff} breakouts fail more?

[10:00] {Threei}  FEB NEW HOME SALES: 337K V 300KE (% M/M)

[10:00] {Threei}  on these financial thick stocks, yes

[10:00] {Threei}  breaks fail more often than work

[10:00] {Threei}  but we got news right at this point

[10:00] {Threei}  out FAS in full

[10:01] {Threei}  .86

[10:01] {magoo} nice boss

[10:01] {Threei}  +.43

[10:01] {i2romantis} nice

[10:01] {magoo} B..gave your phone numberAC 

[10:02] {Threei}  - New Home months of supply: 12.2 v 12.9 months m/m

[10:02] {Threei}  - Prior New Home Sales revised from 322K to 309K{XHB}

[10:02] {Threei}  - Median sales price: $200,900 v $206,800 m/m (%); $245,300 y/y (-18% y/y)

[10:03] {Threei}  yeah, BAC fooled me big time

[10:03] {Threei}  but heck

[10:03] {Threei}  am I unhappy with this opening?

[10:04] {vint} good beginning, vad, thanks

[10:05] {Threei}  GRMN

[10:05] {Threei}  HEARING RENEWED TAKEOVER CHATTER CIRCULATING

[10:05] {Threei}  :)

[10:05] {dino} gmcr stopped -.43

[10:05] {dino} lphi l .06

[10:07] {dino} new march highs

[10:08] {dino} push for 8k end of quarter?

[10:08] {cosmo} the highs of march

[10:08] {Threei}  certainly feels this way dino

[10:09] {dino} mark-ups on force, they don't want to underperform

[10:11] {dino} lphi stop to .31

[10:12] {Threei}  see how breakouts are struggle on these stocks?

[10:12] {Threei}  if you tried FAS at 7, torture

[10:12] {i2romantis} lows are coming in 20 mins?

[10:12] {Threei}  GE at 11, even news at that very moment moved it 10 cents only

[10:12] {nemo} I'm having deja vu 

[10:13] {dino} out lphi .32, +.26

[10:13] {dino} been there done that nemo

[10:14] {dino} f#ck, where's my 8k hat?

[10:14] {Threei}  Chaeron stole it

[10:14] {Threei}  he collects those

[10:15] {dino} :)

[10:16] {magoo} i have it dino

[10:16] {dino} oh mannnnnnnnnn, swiper

[10:17] {magoo} jesus..dino threw a bag of jelly beans at me and it exploded NO SHIT

[10:17] {dino} he's whining

[10:17] {Threei}  lol

[10:18] {Threei}  you guys crack me up

[10:18] {dino} vad, look at tlt/tbt today

[10:18] {Threei}  that's very counter-intuitive

[10:18] {Threei}  let's buy TBT .80 break?

[10:18] {i2romantis} i'm just curious, how come i don't see you guys shorting much?

[10:18] {nemo} well tbt tanked big time yesteray afternoon

[10:19] {i2romantis} i must be missing something

[10:19] {Threei}  market is uotrending i2r... why would we?

[10:19] {Threei}  we shorted a lot during downtrend

[10:19] {i2romantis} got ya

[10:19] {dino} 12r, shorted the 20 year yesterday

[10:20] {i2romantis} i must have missed that before, i only noticed you guys going long

[10:20] {dino} and had the qid at open

[10:20] {dino} yesterday

[10:20] {Threei}  you haven't seen this alert:

[10:20] {Threei} Short Setup: SOMETHING  at some price

[10:20] {Threei}  ?

[10:20] {dino} you had me on ignore roman

[10:20] {i2romantis} will pay attention :)

[10:20] {i2romantis} thx

[10:21] {nemo} I thought it was "anything

[10:21] {nemo} "anything"

[10:21] {Threei}  I rememmebr couple weeks when we were shorting CAT every day

[10:22] {wulff} TBT

[10:22] {magoo} we were? cant remember..what CAT do? pet supplies?

[10:23] {Threei}  yeah... kittens, toys, cat food

[10:23] {Threei}  and broadcatsts cat fights

[10:26] {Threei}  US HOUSE DEMOCRATS PROPOSE A $3.45T BUDGET FOR 2010

[10:28] {ese} missed that nice run up in HIG....some days you are the bug ...somedays you are the windshield

[10:29] {nemo} Reminds me of a joke...what's the last thing to go through a bugs mind when it hits the windshield?

[10:30] {nemo} tough crowd

[10:30] {ese} his a Hole

[10:30] {Threei}  DOE CRUDE: +3.3M V +1.1ME

[10:30] {nemo} nice ese

[10:31] {nemo} Who was it that was talking about having an 11 year old's sense of humor?

[10:31] {nemo} CAT kissing the highs

[10:33] {dino} sidetracked

[10:33] {nemo} who cat?  no, up .08 last minute

[10:33] {nemo} .13

[10:34] {ese} L NUAN .64

[10:34] {ese} dino did you find any big down gappers

[10:35] {dino} sorry es, just got bid accepted on myrtle beach condo, sidetracked for an hour

[10:36] {ese} right on........I'm I comin to golf

[10:36] {dino} next wek

[10:37] {Threei}  if I don't play golf, can I just drop by with beer?

[10:37] {ese} this pattern in NUAN is guranteed to work from Vads book

[10:38] {ese} lol

[10:38] {dino} foreclosurer

[10:38] {ese} nice

[10:39] {ese} have you seen it dino

[10:40] {magoo} vad..i miss anything u in?

[10:40] {magoo} picking up jelly beans

[10:40] {Threei}  no

[10:40] {Threei}  was looking at FAS on pullback to .70, and in rertospect it was right spot

[10:40] {magoo} ok..ill keep pickin up then..appx 200 to go

[10:41] {Threei}  but at the moment pace was so flat,

[10:41] {Threei}  could easily go either way

[10:41] {Threei}  lol

[10:42] {dino} internet pictures, but I have stayed in similar units, barefoot resort (dye courses)\

[10:44] {nemo} BAC forming ascending triangle

[10:46] {ese} deon't know what i was thinkin vad....you said pullbacks are the order of the day....and what do I do....try a breakout......."the gates are down ..the lights are flashing, but that train just ain't a comin!!"  sheesh

[10:47] {Threei}  yeah, we are not in a happy-bubbly-giddy stage of the bull yet, when any entry works

[10:48] {nemo} Train kept a rollin' all night long...

[10:48] {vinod} fas 070 still good

[10:49] {vinod} ?

[10:49] {ese} not in my case today nemo

[10:50] {ese} I'm sure that I could demonstrate the inate ability to drown in a parking lot puddle today.....

[10:50] {nemo} Oh it kept a rollin...right over you

[10:50] {Threei}  not sure vinod

[10:50] {Threei}  kind of 50/50 here

[10:50] {Threei}  easy money has been made for the morning

[10:50] {ese} ha ha yuk yuk

[10:52] {Threei}  in fact...

[10:52] {Threei}  GE starts looking like short on .90 breakdown

[10:52] {Threei}  if sdtays under 11

[10:52] {nemo} Better than Nancy Sinatra and her boots

[10:52] {Threei}  and FAS on .70 breakdown

[10:52] {ese} indeed

[10:52] {Threei}  that was for i2r :)

[11:02] {Threei}  everything's struggle

[11:02] {i2romantis} yes

[11:03] {Threei}  same pattern as yesterday so far:

[11:03] {Threei}  easy money is made quickly after the open,

[11:03] {Threei}  then long period of boredom

[11:06] {Threei}  NY FED: PURCHASED $7.5B IN TREASURIES IN FIRST ROUND OF $300B PURCHASE PROGRAM

[11:08] {Threei}  NORTH KOREA REPORTEDLY HAS MOVED MISSILE TO LAUNCH PAD - JAPANESE PRESS

[11:10] {cosmo} they need to talk

[11:14] {Threei}  FAS 1:1

[11:15] {Threei}  can't believe I subjected myself to this water torture for this gain

[11:15] {nemo} I got stopped out @ .76

[11:15] {Threei}  that was very stingy stop

[11:16] {Threei}  real resistance was .80

[11:17] {dino} ok, back to work

[11:17] {Threei}  just as with pullbacks on a long side.. on both FAS and GE short entry on bounce near the resistance would be much better idea

[11:17] {dino} ese what are you looking at?

[11:19] {i2romantis} getting frustrated with TD's slow fills...

[11:19] {Threei}  oh come on...

[11:19] {Threei}  we talked like 3 months ago about it being not suitable for day trading

[11:19] {Threei}  you like torturing yourself? :)

[11:20] {i2romantis} seems that way

[11:20] {i2romantis} contacted dave, switching soon

[11:20] {Threei}  GE's turn finally it seems

[11:21] {Threei}  moving my stop to .95

[11:21] {Threei}  FAS 1:2

[11:22] {Threei}  I'll be a tightwad and move GE's stop to .91

[11:24] {Threei}  whatever

[11:24] {Threei}  covered GE .82

[11:24] {Threei}  plus whooping 8 cents

[11:24] {vint} out GE +.07

[11:25] {Threei}  it's just too slow to get a firm read

[11:25] {Threei}  and having almost perfect day, with little BAC shakeout the only exception, don't want to jeopardise it

[11:25] {dino} sm l apol .00

[11:26] {magoo} just covered GE short dime..ty vad

[11:26] {Threei}  no FAS?

[11:26] {magoo} took bac with it

[11:26] {magoo} no fas

[11:26] {Threei}  okay... whatever works

[11:27] {Threei}  FAS worked the best of them all

[11:28] {dino} apol stop is .85\

[11:30] {dino} stopped apol -.15

[11:30] {magoo} thats cause i didnt take it

[11:36] {Threei}  BAC works nicely now

[11:37] {vinod} at 0.70?

[11:38] {Threei}  ?

[11:43] {dino} hl s nue .10

[11:44] {dino} stop is .38

[11:45] {KSystems} I'm buying the OIH here...83.10

[11:45] {KSystems} lets see

[11:47] {Threei}  what to see... nice scalp :)

[11:48] {Threei}  IBM

[11:48] {Threei}  PREPARING FOR LAYOFFS IN US SERVICES UNIT; WILL SHIFT MORE WORK TO INDIA - WSJ CITIES SOURCES

[11:48] {Threei}  I see stimulus works well

[11:49] {dino} stopped nue .05 +.05 markety strength

[11:49] {dino} nite l .66

[11:59] {dino} mygn

[12:00] {dino} 7 bucks

[12:00] {i2romantis} sure hope that laser software does better job at updating buying power, cause TD's sucks

[12:00] {Threei}  it's real time...

[12:01] {Threei}  you bought something, your BP went down... you sold, it went back up

[12:04] {i2romantis} i know, just doesn't do it cleanly with TD's ATP

[12:04] {Threei}  hehe... last time I traded with broker with that kind of interface was 1997... :)

[12:05] {i2romantis} with every tran bp is lower by 200-300, not sure if related to us/cdn exchange issue, as I still use some cdn funds when usd are all used up

[12:05] {i2romantis} I think i'll be switching in April

[12:05] {Threei}  anyone remember Datek?

[12:05] {magoo} we used it

[12:05] {magoo} datek

[12:05] {Threei}  :)

[12:06] {dino} nite stop to .78

[12:06] {dino} out .80, +.14

[12:10] {Threei}  starting tomorrow morning, Prez is holding online townhall meeting, answering sumbitted questions

[12:10] {Threei}  I have just one question... when does this guy work?

[12:11] {magoo} no kidding

[12:12] {Threei}  REMINDER: THE FED'S PIANALTO IS SCHEDULED TO SPEAK AT 12:20PMET AND FED'S YELLEN TO SPEAK AT 1PMET

[12:12] {Threei}  - both are speaking on the US economic outlook.

[12:12] {Threei}  - Pianalto will not release an advanced text, will take audience Q&A.

[12:12] {Threei}  - Yellen will have an advanced text and take questions afterward from reporters.

[12:15] {Threei}  TREASURY SEC GEITHNER: ECONOMIC DETERIORATION PACE HAS SLOWED

[12:22] {Threei}  FED'S PIANALTO: DATA CONFIRMS SEVERE RECESSION; CREDIT CONSTRAINTS ARE MAIN PROBLEM, GDP SHOULD STABILIZE BY YEAR END

[12:22] {Threei}  - Notes that the TALF program is critical to getting credit flowing once more

[12:22] {Threei}  - Remarks that the Fed is prepared to further expand Fed balance sheet

[12:24] {Threei}  and market drops why?

[12:27] {Threei}  US) TREASURY SEC GEITHNER: STRONG USD IN AMERICA'S BEST INTEREST; NO INDICATION FOREIGN BUYERS ARE LOSING INTEREST IN PURCHASES OF TREASURIES - CNBC INTERVIEW

[12:27] {Threei}  - financial institutions must have stronger quality of disclosure than we have now.

[12:28] {nemo} goin' for the title

[12:28] {Threei}  is it a requirement for all treasury seceretaries to say 'atrong dollar is in US interests"?

[12:28] {nemo} talking points

[12:28] {Threei}  I don't remember any one them not saying this,

[12:29] {Threei}  even when USD was in the crapper

[12:29] {dino} realistically it is in bond buyers interest, not us

[12:31] {dino} qld l .57

[12:36] {Threei}  http://finance.yahoo.com/tech-ticker/article/218286/One-Small-Problem-with-Geithner's-Plan-It-Will-Bankrupt-the-Banks?tickers=aig,c,bac,wfc,xlf,^gspc,^dji

[12:38] {nemo} what's your stop Dino?

[12:39] {dino} .34

[12:39] {dino} poor entry

[12:49] {Threei}  I am at serious risk to break my chin off my desk

[12:50] {dino} stopped, sorry nemo

[12:50] {Threei}  and break the desk and keyboard in a process

[12:50] {larisa} Blodget is the one who barred from markets for life right ? I think his judgement is clouded a bit :)

[12:50] {dino} nue s .19

[12:50] {Threei}  UN URGES THE G20 TO SUPPORT A $1T PLAN TO HELP DEVELOPING COUNTRIES

[12:51] {dino} milken

[12:51] {Threei}  well, there are arguments in the article

[12:51] {Threei}  either they are valid or not

[12:52] {dino} ndx wants to fill open gap

[12:55] {larisa} when anybody says something, to me it always agenda behind the words. Quid pro quo. 

[12:55] {Threei}  that's why I dismiss the whole 'consider the source" - everyone has an agenda

[12:55] {larisa} I believe Tim's plan will work1 :)

[12:55] {Threei}  so why not look at the message itslef and evaluate its merits

[12:56] {Threei}  don't tel me Tim has no agenda {G}

[12:56] {larisa} lol

[12:56] {Threei}  he is too terrific for that

[12:56] {magoo} first on agenda is to hire secretary

[12:57] {Threei}  I think it's done already

[12:57] {Threei}  ghone are sad times when tim was home alone

[12:57] {dino} larisa for tim's sec

[12:58] {larisa} no thanks :) He is not my type

[12:58] {larisa} of boss

[12:58] {dino} :)

[12:58] {Threei}  and we don't want Larisa in harms way when Tim is getting ostracized and tar and feathers become the main furniture in his office

[12:59] {nemo} you mean his wardrobe

[13:00] {Threei}  depends on where angry mob catches up with him

[13:00] {Threei}  FED'S YELLEN: US MUST USE ALL TOOLS IN CRISIS, STIMULUS MAY ASSIST ECONOMY NEXT QUARETER

[13:00] {larisa} I doubt I can be anybody's secretary, he yells at me once and poison in his coffee will make me unemployed.

[13:01] {Threei}  lol

[13:02] {Threei}  I never yelled at secretaries but being focused on something completely I used one gal's cup of coffee as an ashtray...

[13:03] {Threei}  poor girl looked at it, sighed and took about 10 minutes before finally saying

[13:03] {Threei}  umm... that was my coffee...

[13:04] {Threei}  FED'S YELLEN:

[13:04] {Threei}  UNEMPLOYMENT TO PEAK NEXT YEAR

[13:04] {Threei}  - Deflation larger risk than inflation at the moment

[13:04] {Threei}  - Remarks that housing may have reached a bottom yet uncertainty remains in economic outlook

[13:04] {Threei}  - Core inflation to be below 1% for next couple years

[13:04] {Threei}  - TALF may be extended to CMBS and RMBS

[13:05] {Threei}  by the way... whether accusations against Blodget were true or not, his competence was never really in question

[13:05] {larisa} yeah, his AMZN call to $400. i remember that one :)

[13:06] {larisa} wild guy

[13:06] {Threei}  that was actually the one that started his star reputation

[13:06] {larisa} right

[13:06] {dino} cov nue .00, +.20

[13:06] {dino} .19

[13:07] {dino} l nue .05

[13:11] {dino} out nuec .90 -.15

[13:13] {dino} whippy

[13:14] {vint}  CAT sinking down

[13:14] {Threei}  yeah, will be a bounce scalp canadidate very soon

[13:18] {magoo} mkts rotting here

[13:19] {Threei}  one more quick leg down CAT

[13:19] {Threei}  FAS nears bounce zone as well

[13:19] {Threei}  CAT, between 29 ans 29.10, on pause and strength

[13:20] {Threei}  if never loses 29.10 and market spikes, .20 break

[13:20] {Threei}  IMF'S STRAUSS KAHN: DISCUSSION OF RESERVE CURRENCY SITUATION IS A LEGITIMATE ONE

[13:20] {nemo} can hear the clinking bottles now

[13:22] {magoo} in .18

[13:23] {Threei}  I am still in the trenches

[13:23] {ese} I'm outta here...still hangin on to my 1/2 lot of nuan......we'll se what happens at the end of the day

[13:23] {Threei}  take care ese

[13:23] {nemo} what's that mean Vad?

[13:24] {ese} see ya vad.......remember no house shopping in the bahamas

[13:24] {Threei}  lol

[13:24] {Threei}  waiting for CAT entry to come to me nemo

[13:25] {dino} ndx gap filled

[13:27] {larisa} did CAT have news ?  

[13:27] {Threei}  no

[13:27] {Threei}  in

[13:27] {Threei}  .75 stop

[13:28] {Threei}  stopped

[13:28] {Threei}  hmm... feels bottomed

[13:29] {Threei}  nope... market is still sliding

[13:29] {Threei}  .70 break in

[13:29] {Threei}  stop under .65

[13:30] {Threei}  come on, it's time

[13:32] {dino} nue l .45

[13:33] {Threei}  sheesh... is this all??

[13:33] {Threei}  half out CAT .81

[13:34] {larisa} selling pressure is amazing

[13:34] {nemo} might need a double bottom after that fall

[13:34] {Threei}  that's your Tim's plan in work :)

[13:34] {larisa} lol

[13:34] {Threei}  out second half

[13:34] {Threei}  whatever

[13:34] {Threei}  too much struggle

[13:35] {dino} stopped -.15 done w/it

[13:36] {Threei}  WFC

[13:36] {Threei}  MOODY'S LOWERS RATINGS TO A1 FROM AA3

[13:36] {Threei}  market sells down like end of the world is here again

[13:40] {dptl} have a good evening all...finishing early today....

[13:40] {Threei}  take care dp

[13:41] {i2romantis} me too, done for today until I see some recovery

[13:41] {Threei}  i2r :)

[13:41] {Threei}  clever people quit while they are ahead

[13:41] {i2romantis} :)

[13:42] {dino} skf v sm l .40

[13:47] {dino} stopped

[13:47] {dino} taking a break

[13:48] {Threei}  FED'S YELLEN: DISINFLATION CANNOT BE UNDERESTIMATED - Q&A

[13:59] {Threei}  FAS, should be putting bottom in around here

[14:02] {Threei}  panic

[14:02] {magoo} rotting

[14:03] {magoo} red

[14:03] {Threei}  don't jump in, let it calm down

[14:04] {Threei}  now .96 break becomes long trigger if holding .90

[14:04] {Threei}  and don't touch it if not ready for a few tries

[14:08] {Threei}  something is seriously bothering the market

[14:09] {Threei}  (whispering) maybe Tim's plan

[14:09] {larisa} no, something else

[14:09] {Threei}  well... suggest your version :)

[14:10] {larisa} can not come up with anything (Tim, Tim, Tim in my head). You still think this market needs a reason ?

[14:11] {dino} sm l nite .30

[14:11] {Threei}  well... to turn around like this, yes

[14:12] {nemo} call on FAS vad?

[14:13] {Threei}  none

[14:13] {Threei}  it doesn't form clean setup

[14:13] {Threei}  just moves up and down

[14:13] {Threei}  I mean down and up

[14:16] {Threei}  6.05 if holding above 5.95

06[14:17] * magoo slaps Threei around a bit with a large trout

[14:17] {Threei}  6 break as aggressive entry if you prefer this kind

06[14:17] * magoo slaps Threei around a bit with a large trout

[14:17] {Threei}  wtf?

[14:17] {magoo} practicing for when it fails to work

[14:17] {Threei}  invalidated

[14:18] {Threei}  or to put it more precisely, modified

[14:18] {Threei}  .96 if hholdiong above .90

[14:18] {Threei}  etc

[14:18] {magoo} we need futes to turn up

[14:18] {Threei}  you don't sday

[14:19] {magoo} sarcasm??

06[14:19] * magoo slaps Threei around a bit with a large trout

[14:19] {Threei}  .90 break if holding above .85

[14:19] {Threei}  you got the idea

[14:19] {larisa} lets put in double bottom and bounce from here, please ? :)

[14:19] {magoo} .80 break if holds .75?

[14:19] {Threei}  this pattern of trigger/stop changes only if we make new low

[14:19] {nemo} I'll just put in an order @ 5.00 even

[14:19] {i2romantis} lol

[14:23] {Threei}  if you pay attention instead of joking, you are in at .91 and by now looking to partial out after 6 break

[14:23] {Threei}  half out .03

[14:23] {Threei}  scalpers are scalpers

[14:23] {dawg} scalped it thanks Vad

[14:24] {Threei}  :)

[14:24] {Threei}  to answer this:

[14:24] {Threei}  14:19] {magoo} .80 break if holds .75?

[14:24] {Threei}  no

[14:24] {magoo} i was joking and missed

[14:24] {Threei}  that patter was based on double bottom hunting

[14:25] {Threei}  if we lost .80, that would no longer be a double bottom,

[14:25] {Threei}  thus we would need to wait for new chart formation to appear

[14:26] {i2romantis} how do you come up with .91?

[14:27] {Threei}  were you watching it real time at the moment?

[14:27] {i2romantis} if the lows were in the 80s

[14:27] {i2romantis} yes

[14:27] {Threei}  then notice this pattern:

[14:27] {Threei}  it loses 6,

[14:27] {Threei}  holds 5.95,

[14:27] {Threei}  makes a few moves between them

[14:27] {Threei}  establishing mini-range

[14:28] {Threei}  if breaks 6 while holding 5.95, it becomes a trigger

[14:28] {Threei}  loses .95, makes the same kind of moves between .90 and .95

[14:28] {Threei}  making .96 triggger if holding .90

[14:28] {Threei}  etc

[14:28] {i2romantis} got ya

[14:28] {i2romantis} thx

[14:29] {i2romantis} i presume we are to see if it establishes 3rd bottom or if goes lower

[14:29] {Threei}  yep

[14:31] {Threei}  PALM

[14:31] {Threei}  HEARING SHARES ADDED TO DEUTSCHE BANK SOLAR LIST AS A BUY

[14:31] {Threei}  DRYS

[14:31] {Threei}  HEARING LAZARD MAKING CAUTIOUS COMMENTS; LOWERING ESTIMATES

[14:31] {Threei}  - Firm is lowering their FY EPS estimate to $1.05 from $1.35 despite their revenue estimate increases to $861M from $841M.

[14:32] {nemo} If fas holds, need break of 6.06?

[14:33] {Threei}  as a new trigger?

[14:33] {nemo} yes

[14:33] {Threei}  ummm... a bit too high

[14:33] {Threei}  where do you place a stop if buy up there

[14:34] {Threei}  see if it forms new setup here

[14:34] {Threei}  .85 - .90

[14:34] {Threei}  it still held the low

[14:34] {Threei}  so this kind of setups is still valid

[14:35] {Threei}  US MICHIGAN SENATOR LEVIN (D): AUTOMAKERS SHOULD EXPECT MORE AID, HOWEVER WITH CONDITIONS

[14:35] {Threei}  - Expects Obama auto task force to announce support for additional aid{GM F}

[14:35] {Threei}  retest of the low again

[14:35] {Threei}  not good

[14:35] {nemo} fingernails

[14:36] {Threei}  doesn't look like going to holsd

[14:37] {dino}   rimm filling that gap from fri close

[14:44] {Threei}  isn't it something?

[14:44] {Threei}  Larisa, agree with me now that market does have a reason for such stubborn selling?

[14:44] {Threei}  this is not your garden variety pullback

[14:45] {nemo} 200 point range on the DOW?

[14:45] {vint} by this rate, easily it could hit -200

[14:45] {nemo} lied 260

[14:47] {dino} gaps from friday., 7273, 1187, 768

[14:47] {Threei}  NY FED: DEALERS SUBMIT $23B IN 28 DAY, $37.5B TSLF AUCTION; BID TO COVER RATIO 0.61

[14:50] {Threei}  oullback under .70 is for the next try now

[14:50] {Threei}  same pattern

[14:50] {Threei}  BAC

[14:50] {Threei}  MOODY'S LOWERS SENIOR DEBT RATING TO A2 FROM A1

[14:52] {Threei}  stop under .60 if you got entry

[14:53] {Threei}  if it works, make your choice bwteen scalp and partial

[14:53] {Threei}  my personal is partial as I am trying to secure half and get a bigger move on trend reversal

[14:54] {Threei}  basis is, morning profits are quite enough for me,

[14:54] {Threei}  what I am trying to do here is not to lose and not to just add little scalps

[14:54] {Threei}  but to increase profit significantly or stay basically at the same level

[14:56] {Threei}  half out .76

[14:56] {nemo} what were you in at vad?

[14:56] {Threei}  .66

[14:57] {Threei}  want something closer to 6 for the next part

[14:57] {Threei}  between 5.90 and 6, let's say

[14:57] {Threei}  if trend changed, should be easy

[14:57] {Threei}  if not, what's my risk

[14:57] {Threei}  +.10 on first half, - .07 on second... shrug

[15:00] {Threei}  no go for second part

[15:01] {Threei}  FDIC'S BAIR: TRESURY DEPT'S NON BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'

[15:01] {Threei}  I think markey hates this idea

[15:02] {Threei}  yesterday selling started hitting as they started talking about it

[15:03] {Threei}  GEROGE SOROS: G20 NEEDS TO FIND A SYSTEMIC SOLUTION FOR DEVELOPING ECONOMIES

[15:04] {Threei}  - Calls the April G20 meeting a "make or break" event.{EEM}

[15:04] {Threei}  FDIC'S BAIR: TRESURY DEPT'S NON-BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'

[15:04] {Threei}  - Would make sense on "many levels" if the FDIC were given resolution powers for large non-banks, in close cooperation with Treasury and Fed.

[15:05] {Threei}  is there any area this administration doesn't want to have total authority over?

[15:06] {dino} nope

[15:07] {Threei}  GEORGE SOROS: OBAMA SHOULD PROPOSE USE OF SDR

[15:07] {Threei}  why would USA need that?

[15:08] {nemo} Kettle 1...it would force fiscal discipline

[15:08] {Threei}  whose?

[15:08] {nemo} on the US

[15:08] {Threei}  so, USA wants to install the external enforcements on itself?

[15:09] {Threei}  REPORTEDLY 6,000 UAW WORKERS HAVE AGREEDED TO A BUYOUT, PLANS TO ANNOUNCE DETAILS OF UAW DEAL TOMORROW

[15:09] {Threei}  {F}

[15:09] {nemo} no...I'm sure the US would rather stay the reserve currency

[15:09] {Threei}  that's my point

[15:09] {Threei}  why Geithner says horray to the idea then, and why Soros thinks Obama should propose it?

[15:11] {Threei}  feels to me like trend is about to reverse

[15:13] {nemo} part of the Bildergerg plot,  remember...Obama is the Manchurian Candidate

[15:13] {dino}  lol

[15:20] {dino} qld l .25

[15:22] {Threei}  [15:11] {Threei} feels to me like trend is about to reverse

[15:24] {dino} out qld .37 +.12

[15:27] {dino} out nite .36, +.06

[15:29] {Threei}  WHITE HOUSE PRESS SEC: USD WILL BE GLOBAL RESERVE CURRENCY FOR LONG PERIOD OF TIME

[15:29] {Threei}  finally!

[15:30] {nemo} Hey, know how you can tell when a politician is lying?

[15:30] {Threei}  ok, if you want my take on what happened today:

[15:30] {dino} nite l .40

[15:30] {Threei}  idiot geithner mused about USA liking this idea,

[15:30] {Threei}  market reacted,

[15:30] {Threei}  now Prez spokesman says nah,

[15:30] {Threei}  market reacts.

[15:30] {Threei}  Geithner has to go, IMO

[15:31] {Threei}  damage this guy causes is beyond imagination

[15:31] {cosmo} yeah....put in cramer

[15:31] {dino} cedc l .37

[15:31] {Threei}  of course I am so brave only while larisa isn't here

[15:32] {Threei}  cosmo.. at least that would be funny

[15:33] {patience} geithner is the straw man imo

[15:33] {Threei}  seriously, can you envision all the implications of worlds reserve currency change for US economy?

[15:33] {Threei}  and whole financial system

[15:34] {nemo} austerity doesn't begin to describe it

[15:34] {Threei}  not what I mean

[15:34] {cosmo} hmmm... maybe try Chauncy Gardiner

[15:35] {nemo} I'm sure it woul be phased in over time

[15:35] {Threei}  I mean complexity, depth and breadth of all the issues influenced by this

[15:35] {nemo} How did they introduce that mutt the euro

[15:35] {Threei}  I am pretty sure no one in the whole world comes even close to undderstaning of all the changes involved

[15:35] {nemo} No doubt...things have become so complex

[15:36] {Threei}  and intervened

[15:36] {nemo} Doesn't mean they won't try

[15:36] {Threei}  could be

[15:36] {Threei}  my point is,

[15:36] {Threei}  market reacts on this as a huge unceratinty

[15:36] {Threei}  and we now how markets like uncertainty

[15:42] {Threei}  AIG MOODY'S CUTS RATING TO B2

[15:42] {Threei}  Moody is angry today

[15:42] {magoo} why kick everyone while down 

[15:43] {cosmo} to accumulate the stock

[15:44] {Threei}  lol

[15:45] {Threei}  BAC

[15:45] {Threei}  FIVE PUBLIC PENSION FUNDS FILE SUIT AGAINST BOFA - WSJ

[15:45] {dino} nite stop to .48

[15:46] {vint} short squeeze?

[15:46] {i2romantis} moody is moody today

[15:46] {Threei}  just some recovery vint

[15:46] {Threei}  not much to it

[15:46] {vint} thanks

[15:46] {Threei}  nervous day for both sides

[15:46] {dino} out nite +.08

[15:47] {Threei}  tsk tsk tsk i2r... I restrained myself from that pun

[15:47] {Threei}  but no, you had to do it :)

[15:48] {i2romantis} :)

[15:48] {i2romantis} and FAS was fussy today

[15:48] {dino} out cedc .42, +.05

[15:49] {Threei}  and FAZ?

[15:49] {dino} ipsu bloody

[15:49] {Threei}  {--- scared to ask about QID

[15:49] {i2romantis} works well, no? :)

[15:50] {Threei}  lol

[15:50] {Threei}  sure does

[15:50] {Threei}  funny thing about today was,

[15:50] {Threei}  we tried reluctantly two shorts

[15:50] {Threei}  feeling that it was countertrend trade

[15:50] {Threei}  so we took scalping profits on both

[15:51] {Threei}  and those were actually very promising trades

[15:51] {Threei}  lol

[15:51] {i2romantis} yes

[15:51] {Threei}  oh well

[15:51] {Threei}  I am a trend following trader mostly

[15:51] {Threei}  reversals is not exactly my thing

[15:51] {Threei}  I do nail many of them now and then

[15:52] {Threei}  but I pick the safest ways to do it

[15:52] {Threei}  and tend to take scalps

[15:52] {i2romantis} consistency is what you are good at and I'd love to get there soon :)

[15:52] {i2romantis} still making mistakes here and there

[15:53] {Threei}  as Zvanetsky said...

[15:53] {Threei}  Consistency of resuklts is a sign of professionalism

[15:53] {vint} very well said

[15:53] {i2romantis} lol, the context that he said it with is funny :)

[15:54] {vint} i wish i was anywhere close

[15:54] {Threei}  99% of his jokes are non-translatable

[15:54] {vint} oh that is a big joke

[15:54] {Threei}  no

[15:54] {Threei}  but mostly what he does is stdand-up

[15:55] {Threei}  the simplest ones are possible to translate...

[15:55] {Threei}  lie: He added some potatoe and salt, and put aquarium on the stove

[15:55] {Threei}  lie= like

[15:56] {Threei}  look at FAS

[15:56] {Threei}  sheesh

[15:56] {vint} straight line

[15:56] {Threei}  state of total confusion for both, bears and bulls

[15:56] {i2romantis} out fas at .45

[15:56] {i2romantis} should have waited :)

[15:57] {i2romantis} so, talk about inconsistency, got in at 5.57, left the screen, came back and it's here

[15:57] {Threei}  practically full roundtrip

[15:57] {i2romantis} nice trade, but very inconsistent

[15:57] {i2romantis} that's my issue

[15:57] {i2romantis} gotta work on that

[15:57] {Threei}  about a dollar - on a $6 stock!

[15:57] {i2romantis} yes

[15:58] {dino} crazy

[15:58] {i2romantis} but, i followed the down trend very painfully close, so it's nearly a recovery

[15:58] {dino} cedc in .50,

[15:58] {dino} out .62 +.12

[15:59] {Threei}  STRASBOURG, France  A top European Union politician on Wednesday slammed U.S. plans to spend its way out of recession as "a way to hell."

[15:59] {Threei}  Czech Prime Minister Mirek Topolanek, whose country currently holds the EU presidency, told the European Parliament that President Barack Obama's massive stimulus package and banking bailout "will undermine the stability of the global financial market."

[15:59] {cosmo} marrket likes it

[15:59] {i2romantis} and I hold overnight too often, so I have to get rid of those habits before i switch to laser

[15:59] {vint} CAT + .4

[16:00] {magoo} unreal close imo

[16:00] {Threei}  wtg vint

[16:00] {Threei}  whole day is, mags

[16:00] {Threei}  not overly wide but extermely werid

[16:00] {dino} wow am i beat

[16:00] {magoo} that close in financials was sick

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good evening, see you tomorrow

[16:01] {dino} bedlam, thats what it is, with the crazies running the facility

[16:01] {vint} good evening all, see you all tomorrow

[16:01] {i2romantis} cheers to all :)

[16:05] {dino} ctrn

Mar 24 2009

Very nice day with a few well controlled stops and nice-sized wins. Second half of the day was mostly boring with infrequent opportunities. All the same heroes - FAS, BAC, WFC, RIMM...

Session Time: Tue Mar 24 00:00:00 2009

[07:53] {nemo} morning

[07:54] {Threei}  Good morning sleepless in, umm, various cities

[07:54] {nemo} I've been up for 3 hours

[07:56] {Threei}  what can I say... try sleep aid?

[07:56] {Threei}  ok, daily comedy of irrelevance starts with:

[07:56] {Threei}  (US) FED'S EVANS: FED WOULD HAVE BEEN BETTER OFF TIGHTENING POLICY RATES AT A QUICKER PACE IN LATE 2001

[07:56] {Threei}  really?

[07:56] {Threei}  in 2001?

[07:56] {Threei}  and Mr Evans informs us now?

[07:56] {nemo} I use vodka

[07:58] {Threei}  (US) PRESIDENT OBAMA: G20 MUST TAKE ACTION TO STIMULATE GROWTH UNTIL DEMAND PICKS UP; G20 SHOULD PROVIDE AID TO STABILIZE EMERGING NATIONS, INCREASE IMF EMERGENCY FUNDS - GERMAN PRESS

[07:58] {Threei}  - Immediate action coming out of G20 summit in London could be clear way for recovery

[07:58] {Threei}  - Reiterates need to restore credit system

[08:05] {magoo} mornink comrades

[08:06] {Threei}  magoo :)

[08:06] {magoo} hey boss

[08:06] {magoo} faz might be a pre trade here

[08:07] {magoo} if financials want to pullbk today, could go multi points

[08:07] {Threei}  anything might be a trade...

[08:08] {magoo} OY..u starting with me already?

[08:08] {Threei}  question is, what is safe enough and has high enough odds

[08:08] {Threei}  lol... why not

[08:08] {Threei}  need morning warm-up, don't I

[08:09] {Threei}  (US) FED'S EVANS: Q1 GDP GROWTH LOOKS SET FOR SEVERE CONTRACTION; TO RESUME GROWTH BY YEAR-END

[08:09] {Threei}  - Unemployment Rate should begin to improve by year end and in 2010

[08:09] {Threei}  - Inflation expectations are well maintained

[08:11] {Threei}  (US) PIMCO'S MUCULLEY: EXPECTS CDO'S TO BE INVOLVED IN TOXIC ASSET PROCESS

[08:11] {nemo} Mags-do you go for Turkey's also?

[08:15] {Threei}  FED'S EVANS: GEITHNER TOXIC ASSET PLAN IS "VERY WELL DESIGNED"

[08:15] {Threei}  oh good

[08:15] {Threei}  gotta buy me some toxic asset

[08:15] {nemo} So wasn't the Titanic

[08:17] {Threei}  - Says $300B Treasury purchases is "Very Good Amount"

[08:17] {Threei}  - Private interests in troubled assets is positive

[08:19] {cosmo} don't toxic assets need an environmental assessment before they're resold?

[08:21] {Threei}  wyhatever assessment says, they are going to be shoved down the public throat

[08:21] {Threei}  so why bother

[08:22] {Threei}  EXHANGES SEND LETTER TO SEC REGARDING MODIFIED UPTICK RULE

[08:22] {Threei}  {NDAQ NYX}

[08:23] {Threei}  - Propose that under new system, uptick rule would go into effect following a stock decline

[08:23] {Threei}  - Individual borkers would be responsible for compliance with new rule

[08:23] {Threei}  - Short sales would be limited to current best bid

[08:23] {Threei}  borkers eh?

[08:24] {Threei}  FAS started uoticking on that

[08:24] {Threei}  BAC is trying to follow

[08:25] {Threei}  not sure what this means:

[08:25] {Threei}  - Short sales would be limited to current best bid

[08:25] {Threei}  no sales under the bid or what?

[08:26] {nemo} So, this is a BFD?

[08:26] {Threei}  ?

[08:26] {Threei}  who knows

[08:26] {Threei}  we haven't seen full text

[08:27] {cosmo} NRGY public offering anouncement

[08:27] {cosmo} might heal

[08:36] {larisa} good morning :)

[08:36] {ese} good morning....

[08:36] {Threei}  larisa, ese :)

[08:36] {ese} morning vad

[08:37] {ese} Vad....what is the symbol for the Baltic Dry index

[08:37] {fernp} Hello everybody

[08:37] {ese} fern

[08:37] {Threei}  fern :)

[08:37] {Threei}  it's not traded entity ese, there is no symbol

[08:38] {ese} ahhhhh......explains why I couldn't find it

[08:40] {Threei}  ok, this is actually funny:

[08:40] {Threei}  GS PRESIDENT: NOT LIKELY TO RETURN TARP FUNDS BEFORE STRESS TEST

[08:40] {cosmo} it is?

[08:40] {Threei}  I can just hear this childish capricious voice:

[08:40] {Threei}  let's see how you grade us on your test,

[08:41] {Threei}  then I'll think to give you your toys back or keep it

[08:42] {Threei}  of course it is cosmo, if your sense of humor is anything like mine - which is to say, at 11 years old level

[08:42] {cosmo} 12 ...haha

[08:42] {Threei}  - Again reiterates Goldman would not have had any losses from an AIG default

[08:42] {Threei}  ***Reminder: Back on March 23, GS: May sell 15-20% of stake in China bank ICBC in efforts to pay back TARP capital; could raise $1B - WSJ

[08:50] {dino} gm all

[08:50] {Threei}  dino :)

[08:55] {ese} morning dino

[08:59] {VINOD} good morning to all

[08:59] {ese} vin baby!!!!!!

[09:01] {Threei}  vinod :)

[09:03] {Threei}  PLD

[09:03] {Threei}  UPDATES DELEVERAGING EFFORTS; ASIA TRANSACTION PROCEEDS PROVIDE $1.3B OF LIQUIDITY IN Q1

[09:05] {pita} gm all, second try.....

[09:06] {Threei}  pita :)

[09:06] {dino} cracks me up, the assets are no good to banks, but geitrhers plan all hedges will make big money. see the problem w/m2m

[09:07] {dino} estimating 95% value taking out at 50%

[09:07] {Threei}  their reasoning is time factor

[09:07] {dino} yes, but it is wrong

[09:07] {Threei}  as in, market will value those assets higher in a while

[09:07] {Threei}  and banks need their balance sheets corrected now

[09:08] {Threei}  so, they move those assets to entities that can afford waiting

[09:08] {dino} yes, but again, wrong they are worth much more, artificially created crash

[09:09] {dino} m2m change to prior 12/07 change would have saved trillions

[09:09] {ese} something seems out of wack there.....assets are not assets these days

[09:09] {Threei}  at the expnese of some hurt egos? :)

[09:10] {dptl} good morning

[09:10] {ese} dp

[09:11] {Threei}  dp :)

[09:11] {Threei}  TSY SEC GEITHNER: FIXING MARKETS WILL TAKE TIME

[09:11] {Threei}  hmmm

[09:11] {Threei}  I need to ponder that

[09:12] {Threei}  it comes on the heels of earlier gem:

[09:12] {Threei}  [07:56] {Threei} (US) FED'S EVANS: FED WOULD HAVE BEEN BETTER OFF TIGHTENING POLICY RATES AT A QUICKER PACE IN LATE 2001

[09:12] {Threei}  [07:56] {Threei} really?

[09:12] {Threei}  [07:56] {Threei} in 2001?

[09:12] {Threei}  [07:56] {Threei} and Mr Evans informs us now?

[09:12] {dino} fly in the ointment, quarter end tuesday

[09:12] {vint} good morning all

[09:12] {Threei}  vint :)

[09:13] {dino} wow, '01, we were in a big bear market

[09:14] {ese} ya what kind of comment is that......tightening in 01

[09:14] {Threei}  and hey, it took just 8 years for him to notice?

[09:14] {ese} ????

[09:14] {Threei}  I am telling you... these guys deliver way too much entertainment lately

[09:15] {Threei}  and hurt my ego badly, by beating me to the pulp in competition for the Captain Obvious title

[09:16] {Threei}  CNBC'S FABER: GOLDMAN AND JP MORGAN FIRST QUARTERS ARE SHAPING UP TO BE STRONG

[09:16] {Threei}  - says both want to repay TARP money ASAP but likely to wait for stress tests

[09:16] {Threei}  - thinks GS will likely be forst to repay

[09:16] {Threei}  first or worst?

[09:16] {Threei}  ok, I should be the last one to point out someone's mistypes...

[09:17] {Threei}  although "borkers" in one of headlines today was oo funny to ignore

[09:17] {Threei}  [08:23] {Threei} - Propose that under new system, uptick rule would go into effect following a stock decline

[09:17] {Threei}  [08:23] {Threei} - Individual borkers would be responsible for compliance with new rule

[09:20] {Threei}  so far, market is much mirkier than yesterday's

[09:21] {Threei}  no clear plays at the moment,

[09:21] {Threei}  mostly upward bias for now

[09:21] {Threei}  but will wait for clean indication

[09:21] {Threei}  either deep pullback begging to be bought,

[09:21] {Threei}  or opening range break

[09:22] {Threei}  FAC, BAC

[09:22] {Threei}  FAS, sorry

[09:22] {Threei}  WFC

[09:22] {Threei}  in short, all usual suspects

[09:26] {Threei}  60 cents pullback from yesterday's high is fairly tempting on FAS

[09:28] {nemo} except that it started the day yesterday around 5

[09:29] {tomg} good morning

[09:29] {Threei}  tom :)

[09:29] {Threei}  OK, if first move is buying, I'll skip it

[09:29] {Threei}  too big chance of immediate smakcdown

[09:30] {Threei}  one more leg of selling please, and I'll get interested

[09:31] {Threei}  BAC

[09:31] {Threei}  .11 long

[09:31] {Threei}  stop under 7

[09:32] {dino} qid close trade stop to .10

[09:32] {dino} out +.50

[09:33] {Threei}  half out BAC .24

[09:33] {ese} nice dino

[09:33] {Threei}  scalpers get out

[09:33] {dino} livermore trade, when lucky take it

[09:33] {tomg} ty vad

[09:33] {Threei}  tom :)

[09:34] {Threei}  missed FAS, waiting for pullback

[09:34] {ese} L fas .54

[09:34] {dino} cedc gap around 10.20, maybe working it

[09:35] {ese} out fas .64 full lot

[09:35] {Threei}  nice scalping footwork

[09:36] {Threei}  FAS, entry just under .40 feels right

[09:36] {ese} nice and quick

[09:36] {Threei}  first sign of strength

[09:36] {Threei}  with stop under .30

[09:36] {ese} looking at NRGY

[09:36] {Threei}  in .39

[09:36] {cosmo} NRGY needs to hold 22

[09:36] {Threei}  for hard core scalpers stop under .35

[09:36] {ese} agreed cos

[09:37] {Threei}  1:1 in a hurry

[09:37] {magoo} man..i missed both

[09:37] {Threei}  BAC over 1:2

[09:37] {Threei}  stop to .14 if still holding balance

[09:38] {ese} nrgy invalidted for me

[09:38] {Threei}  FAS stop to .39 if holding full or half

[09:41] {Threei} Long Setup:  WFC  .40 break half lot

[09:41] {Threei}  satop under .30

[09:43] {vint} in

[09:43] {Threei}  .50 break should set it free

[09:43] {dino} ttes

[09:44] {magoo} in wfc

[09:44] {wulff} go my son fly

[09:44] {Threei}  over 1:1

[09:44] {Threei}  1:2, half out

[09:44] {wulff} be freeeeee

[09:44] {Threei}  scalpers know what to do

[09:44] {ese} bstop FAS .61

[09:44] {ese} L .61

[09:44] {magoo} out .64 TY

[09:45] {Threei}  finally, magoo woke up and got some profits

[09:45] {magoo} really..was way slow early

[09:45] {Threei}  BAC didn't reallyt follow through on this spike

[09:45] {Threei}  closing the trade

[09:45] {magoo} good exit tho

[09:45] {Threei}  yup

[09:45] {Threei}  market is spikey

[09:46] {Threei}  hmmm

[09:46] {Threei}  another entry coming

[09:46] {Threei}  .36 long

[09:46] {Threei}  if syas above .30

[09:48] {Threei}  hit over 1:1 quickly earlier but really, with such tight stop want to try for moee

[09:48] {Threei}  more

[09:48] {Threei}  half out or scalp here

[09:48] {Threei}  me half out +.12

[09:49] {Threei}  stop is still same, under .30

[09:50] {Threei}  PREVIEW: FED'S BERNANKE AND TREASURY'S GEITHNER ARE SCHEDULED TO TESTIFY BEFORE THE HOUSE FINANCIAL SERVICES COMMITTEE ON THE GOVT RESCUE OF AIG

[09:50] {Threei}  - text of the testimony was released earlier and Q&A will begin later in the hour.

[09:50] {Threei}  PREVIEW: JAN HOUSE PRICE INDEX (M/M) DUE OUT AT 10AMET

[09:50] {Threei}  **consensus expectation: -0.9%e v +0.1% prior

[09:50] {Threei}  PREVIEW: MARCH RICHMOND FED INDEX DUE OUT AT 10AMET

[09:50] {Threei}  **consensus expectation: -51e v -51 prior

[09:50] {Threei}  - estimates range between -44 to -54

[09:52] {dino} sm l ttes .51

[09:53] {Threei}  good boy FAS

[09:53] {Threei}  finally

[09:53] {Threei}  out balance .69, +.30

[09:55] {Threei}  out WFC balance

[09:55] {Threei}  .58, +.22

[09:55] {ese} out fas .80 +.19 full lot

[09:55] {Threei}  okay... so far so good, 4 out of 4

[09:56] {Threei}  a bit too fast

[09:56] {Threei}  but that's morning trades...

[09:57] {dino} you're a machine

[09:57] {wulff} drys is screaming

[09:57] {nemo} machine with a sense of humor lubricated by vodka

[09:57] {Threei}  don't give nemo ideas

[09:57] {Threei}  awww... too late

[09:58] {Threei}  looked at it earlier wulff, couldn't get a read on it.... grrr

[09:58] {dino} lol

[09:58] {wulff} I am swing trade

[09:58] {Threei}  EGLE moves with it too

[09:59] {Threei}  ok, let's wait for numbers in 2 min

[09:59] {Threei}  lest we get caught

[09:59] {Threei}  *MARCH RICHMOND FED MANUFACTURING INDEX: -20 V -51E

[09:59] {dino} v sm l .00

[10:00] {Threei}  JAN HOUSE PRICE INDEX (M/M): +1.7% V -0.9%E

[10:00] {Threei}  wow

[10:01] {magoo} out your wfc .76

[10:01] {magoo} ty

[10:01] {Threei}  welcome

[10:01] {magoo} only 2 i caught

[10:01] {wulff} thanks for those numbers vad

[10:01] {ese} L HIG .50

[10:02] {Threei}  ummm... welcome of course but I haven't produced them... economy did {G}

[10:02] {Threei}  I will take credit if you insist

[10:03] {Threei}  so far long bias proves right

[10:03] {Threei}  let's wait for pullback or consolidation/break now

[10:05] {Threei}  I would like pullback to 7 or slightly below on FAS, at least

[10:05] {Threei}  if it never loses 7.10, well, break over 7.20 is a play

[10:05] {Threei}  jst more risky

[10:06] {Threei}  better... a bit more down please

[10:06] {Threei}  ok, first strength from here

[10:07] {Threei}  stop under 6.95

[10:07] {Threei}  keep it tight and look for re-entry if stopped

[10:08] {magoo} in 04

[10:09] {Threei}  ICE

[10:09] {Threei}  PRICE TARGET RAISED TO $90 FROM $80 AT SANDLER O'NEILL, MAINTAINS BUY RATING (TIMING UNCERTAIN)

[10:10] {Threei}  Senate is back to really pressing issues

[10:10] {Threei}  namely, AIG bonuses

[10:10] {Threei}  no worky FAS

[10:10] {dino} waste of time, doesn't anybody work there anymore

[10:11] {Threei}  FAS shakeout eh?

[10:11] {Threei}  whatever

[10:13] {dino} qsii

[10:13] {ese} out HIG ,55 +.05 lot and a half

[10:14] {cosmo} fmcn

[10:14] {cosmo} 6.33 hod

[10:15] {dino} darn not avail qsii

[10:16] {fernp} XL C&H Vad?

[10:17] {Threei}  looks like, worth a try at .38 if stays above .30 for a scalp,

[10:17] {Threei}  above .20 for a daytrade

[10:21] {Threei}  Terrific Tim is speaking

[10:21] {dino} v stop is .79 fweiw

[10:21] {cosmo} fmcn gonna test

[10:21] {Threei}  he shares outrage about AIG compensation AND about the very system of those

[10:22] {Threei}  isn't it a bit rich coming from Fed?

[10:22] {Threei}  ok, former Fed

[10:22] {dino} seems to me there are other issues tim could be working on

[10:23] {dino} kangaroo court

[10:23] {cosmo} thinking cap?

[10:23] {ese} L HIG again .49 lot and a half

[10:23] {Threei}  US HOUSE REP BOEHNER: TREASURY PROPOSAL FOR UNWINDING OF NON BANK ENTITIES A 'TREASURY POWER GRAB'

[10:23] {Threei}  duh

[10:24] {ese} butting up against .50 for awhile...should take off when market turns up

[10:24] {dino} him and barney hang out

[10:25] {ese} dino HUBG would have been a nice play......missed it

[10:25] {dino} v stopped -.22

[10:26] {Threei}  NFLX... the wierdest thing on earth

[10:26] {dino} nflx rocking

[10:26] {pita} day job - ty Vad FAS BAC WFC

[10:26] {Threei}  welcome pita

[10:26] {dino} v rinsed

[10:26] {Threei}  FAS regained strength

[10:27] {ese} away we go

[10:28] {Threei}  nice entry on HIG ese

[10:28] {ese} out HIG .69 +.20 on a lot and a 1/2.....I like it

[10:28] {Threei}  beauty

[10:28] {Threei}  wtg

[10:28] {dino} gj

[10:28] {ese} tks....

[10:29] {ese} HIG seems like a nice easy day tradin stock....

[10:29] {Threei}  who unplugged the market?

[10:29] {Threei}  or tripped over the cord?

[10:29] {nemo} Geithner

[10:30] {Threei}  nah, he is done

[10:30] {dino} ttes spiked down stopped -.30

[10:30] {Threei}  Ben is speaking now

[10:30] {Threei}  but none of them says anything of sybstance

[10:30] {dino} smackdown

[10:30] {Threei}  just "me outraged too"

[10:32] {dino} i go to make pot of coffee, we lose 50+ pts

[10:32] {Threei}  HIG is back into your entry ese

[10:33] {Threei}  I'd assume it wil be scalpable qwith market bounce

[10:34] {cosmo} {....waiting for any Ben/Tim ideas on the 'moral imparitive'

[10:35] {cosmo} no matter ...sigh

[10:35] {Threei}  I need new vocabulary...

[10:35] {cosmo} google it

[10:35] {Threei}  out of what cosmo said, mine has only "for" and "the"

[10:37] {cosmo} imperative ...sorry

[10:37] {dino} waiting for another lecture on life from obamination

[10:37] {Threei}  big one is coming this evening dino

[10:37] {Threei}  and I'd assume couple small ones meanwhile

[10:37] {dino} seems like he "scolds" everybody

[10:38] {cosmo} our new obamanation

[10:38] {ese} Long HIG ..42 

[10:39] {Threei}  no sign of market bounce yet ese...

[10:39] {Threei}  or FAS

[10:39] {ese} ya ...was hoping bounce off lower bollinger band

[10:40] {ese} maybe not

[10:40] {Threei}  nah, you were right

[10:40] {nemo} might be scalp time though

[10:41] {dino} ati sm l .58

[10:42] {ese} out HIG .50 +.08

[10:42] {ese} lot and 1/2 again

[10:42] {Threei}  {--- can safely go to Bahamas

[10:42] {nemo} giving Dino a run for his "money"

[10:43] {ese} up 450.00 on this thing alone.....trades right for me.....weird feeling

[10:43] {nemo} explain: {&Threei} {--- can safely go to Bahamas

[10:43] {dino} kicking my butt today, but afternoons are mine

[10:43] {Threei}  people trade nicely without my help...

[10:43] {nemo} whoa!  Hear that ese?  Dino's gonna' kick yur ass this afternoon

[10:44] {dino} lol

[10:44] {ese} he can definately do that

[10:44] {ese} I'll be at work

[10:45] {Threei}  but ese usually successfully defuses that threat by leaving for the aftrenoon :)

[10:45] {nemo} ahhh...another maxim...don't be there!

[10:45] {dino} lately i do most of my profit in p.m., thats all

[10:45] {nemo} Just trying to stir the pot

[10:46] {ese} if were scoring in days.......dino 364  ese 1

[10:46] {nemo} wasn't it like 4356 to 1, and then Vad corrected that it was only 4354 or something like that?

[10:46] {dino} doubt that

[10:47] {nemo} tough crowd

[10:47] {dino} indeed

[10:48] {ese} indeed

[10:48] {Threei}  I am lost

[10:48] {Threei}  but never mind

[10:48] {Threei}  that's my normal state

[10:48] {nemo} what were the name of those two incredibly polite cartoon chipmunks?

[10:48] {Threei}  I tend to oscillate between lost and confused

[10:48] {nemo} "Dazed and Confused"

[10:49] {cosmo} but happy

[10:49] {nemo} Dino, think Vad gets the reference?

[10:49] {dino} v .99 l

[10:50] {Threei}  for that I would have to watch it

[10:50] {Threei}  and I did promise my kids I would

[10:50] {nemo} watch what?

[10:50] {Threei}  sigh

[10:50] {cosmo} FMCN salmon ....next locks at 6.45

[10:51] {nemo} Oh no, caught in my own web...I was commenting on a song title

[10:51] {fernp} out XL 1:1

[10:51] {fernp} ty vad

[10:51] {Threei}  welcome, but it was your find :)

[10:51] {Threei}  I just provided commentary

[10:52] {nemo} V lookin' good Dino

[10:52] {fernp} then thanks for you comments

[10:52] {Threei}  lol

[10:52] {dino} v stop to .12

[10:53] {dino} to .19

06[10:53] * Threei orders a new sign for his door: "Accept credits for anything, from calls I didn't make to saving planets I never heard of"

[10:53] {dino} out +.20

[10:53] {Threei}  US SENATOR DODD: COUNCIL INCLUDING FED, FDIC, AND OCC COULD BE OPTION AS SYSTEMIC RISK REGULATOR, UNCERTAIN WITH FED AS SOLE REGULATOR

[10:54] {dino} yes lets just adde 1000 people to make sure nothing ever gets done and blame goes nowhere

[10:55] {Threei}  what's with PALM happiness

[10:55] {ese} here we go again L HIG .41

[10:56] {dino} mcd l .80

[10:57] {Threei}  WCG

[10:57] {Threei}  HEARING TAKEOVER CHATTER CIRCULATING

[10:57] {Threei}  - AET rumored as potential acquirer

[10:57] {elepet} i don't know (palm) but i'm in it .

[10:58] {Threei}  swing trade from before?

[10:58] {ese} hmmmm QQQQ was looking like it wanted to go through .45....maybe not

[10:58] {elepet} from yesterday at 8

[10:59] {elepet} bank stocks were driving me crazy

[10:59] {ese} dare veee gohh

[11:00] {ese} hig.....pees fadow

[11:00] {ese} nope

[11:01] {ese} stop .20

[11:03] {Threei}  yawn

[11:03] {magoo} vad..im slow today..we in anything?

[11:03] {Threei}  in coma... as usual

[11:03] {magoo} cool manyanas

[11:04] {dino} haste bananas

[11:04] {ese} ahhhhhhh

[11:04] {Threei}  strange spikes

[11:04] {dino} ttes l .10

[11:05] {Threei}  TREASURY'S GEITHNER: TREASURY HAS NOT MADE JUDGEMENT ON REQUEST FOR ADDITIONAL TARP CAPITAL

[11:05] {VINOD} interesting to watch decay in faz

[11:05] {dino} and the crowd goes "ooohhh"

[11:06] {ese} HIG do the right thing....as spike lee would say.........follow the Q's

[11:06] {nemo} and the c girls sing da doo da doo...or whatever Lou sai

[11:06] {nemo} said

[11:06] {Threei}  (IR) IRISH FIN MIN: WILL BE EXPLORING IRISH BANKING EXECUTIVES BONUSES

[11:06] {Threei}  but of course

[11:06] {nemo} "c" is politically correct

[11:08] {Threei} Long Setup:  ADBE  .87 if stays above .80

[11:08] {Threei}  grrr

[11:08] {Threei}  .07

[11:08] {Threei}  if stays above 22

[11:08] {Threei}  sorry for confusion

[11:08] {dino} roflol nemo

[11:09] {dino} you guys are in a mood today

[11:09] {nemo} forgot to take my meds

[11:10] {nemo} We go from class 5 rapids to glacial movement..sheesh

[11:11] {dino} ttes stop to .34

[11:12] {dino} mcd to .91

[11:12] {dino} ttes to .47

[11:14] {dino} out ttes ave .48, +.38

[11:14] {dino} tough trying to catch es

[11:14] {fernp} ADE

[11:14] {fernp} ADBE still valid ?

[11:15] {Threei}  if makes couple move moves between 22 and 22.07

[11:15] {Threei}  need it to reestablish 22 as support

[11:15] {fernp} ok

[11:15] {ese} out HIG .49 +.08 lot and 1/2

[11:15] {dino} out mcd .92, +.12

[11:16] {dino} relentless es

[11:17] {magoo} in .06

[11:17] {fernp} missed

[11:17] {magoo} always leaps like that

[11:17] {Threei}  GE interesting relative strength

[11:18] {Threei}  slow but starts chewing confidently through levels

[11:18] {dino} ati stop to .88

[11:18] {dino} pullback coming imo

[11:19] {dino} out ati, +.30

[11:22] {dino} maybe not

[11:22] {Threei}  I can't read much in these slow drift

[11:23] {Threei}  GE stands out a bit

[11:23] {dino} geeee

[11:23] {nemo} No, G   E

[11:23] {nemo} Dino, you're not doing to badly yourself today

[11:25] {dino} mcd l .98

[11:25] {dino} 5 of 7

[11:26] {Threei}  4 out 5 here, if not count ADBE

[11:27] {dino} gj

[11:27] {fernp} out BAC +.10 micro-sclaping the only way to make money today :)

[11:27] {Threei}  why not

[11:27] {dino} agree on the scalping

[11:28] {dino} mcd wall of china at .00

[11:29] {dino} or berlin

[11:30] {Threei}  GE just goes

[11:30] {Threei}  ignoring market and FAS

[11:31] {nemo} might be indicating the other parts of the company might be breathing again soon

[11:33] {dino} don't over think it imo

[11:34] {nemo} not...who knows why, but it's been acting like a financial with a slew of other businesses attached

[11:37] {Threei}  BAC aiming for green it seems

[11:38] {nemo} ...I'll leave it alone

[11:38] {wulff} I'm leaving. Feel free to rally now.

[11:38] {Threei}  both FAS and BAC start looking like preparing fopr the run

[11:39] {wulff} see

[11:39] {Threei}  sorry wulff

[11:41] {dino} ty wuff

[11:42] {dino} mcd stop to flat

[11:43] {Threei}  FED'S DUDLEY: UNCERTAIN WHAT CAPITAL MAY BE NEEDED BY AIG IN FUURE

[11:43] {Threei}  {AIG}

[11:43] {Threei}  you and the whole USA dear Dudley

[11:44] {cosmo} gold?

[11:44] {cosmo} nah....too soon

[11:44] {Threei}  ?

[11:45] {dino} watching ttes again

[11:46] {cosmo} gold is the 'sustainable currency'

[11:47] {Threei}  not going to happen

[11:47] {Threei}  fiat is with us forever, IMO

[11:47] {cosmo} omg

[11:48] {nemo} look at China's call for a international currency

[11:48] {Threei}  that's bs

[11:48] {cosmo} globero

[11:48] {dino} agree, gold would ruin the politicians

[11:48] {Threei}  whole new currency for whole wrld?

[11:48] {nemo} what's bs?

[11:48] {Threei}  how's euro working for europe?

[11:48] {nemo} no...using IMF SDRs which were created in the 70s

[11:48] {Threei}  who will manage it?

[11:48] {nemo} IMF

[11:48] {Threei}  what are the implications for world trade?

[11:49] {Threei}  ah IMF

[11:49] {dino} mcd stopped +.01

[11:49] {cosmo} hmmm

[11:49] {Threei}  famous for its immense financial wisodm

[11:49] {nemo} likely to reduce imbalances...will force fiscal discipline

[11:49] {Threei}  and of course all counttries in the world will be happy to sybmit

[11:49] {Threei}  hehe

[11:50] {nemo} well, they submit to the US now, they seem to be getting sick of it

[11:50] {Threei}  dreams of grandfather Mazai...

[11:50] {Threei}  last headline:

[11:50] {Threei}  China continues buying USA debt

[11:50] {Threei}  any questions?

[11:50] {Threei}  all that grandsdtanding is bs

[11:51] {Threei}  siundbites worth exactly nothing

[11:51] {dino} imf is famous for bad loans nemo, no way they fix something

[11:52] {dino} they come in and screw up everything

[11:52] {nemo} I don't disagree...progress is rarely progressive

[11:52] {dino} imo, nothing changes

[11:52] {Threei}  exactly dino

[11:52] {Threei}  and whole world knows that

[11:52] {dino} agree

[11:52] {Threei}  they mishandled asian financial crisi badly

[11:52] {dino} it's a big game

[11:52] {Threei}  under Geithner's management btw

[11:52] {nemo} russia too

[11:53] {dino} tell them what they want to hear, business as usual

[11:53] {Threei}  yup

[11:53] {ese} signing off everyone......dino take over from here will ya.....see ya tomorow

[11:53] {Threei}  take care ese, great job

[11:53] {fernp} bye ese

[11:53] {dino} weill do es, take care

[11:53] {dino} will

[11:53] {Threei}  there is no entity in the world that could move ahead with such grandiose undertaking as creation of world's currency

[11:54] {ese} tks......oddly enough i watched your scalping video again on the weekend

[11:54] {ese} see ya

[11:54] {Threei}  nor there is a will to create any kind of union capable of that

[11:54] {dino} yeah took me awhile to make that video

[11:54] {cosmo} nature wiil bring chaos to order

[11:54] {Threei}  lol dino

[11:55] {dino} :)

[11:55] {Threei}  it's my role to take credits for someone's achievements

[11:55] {Threei}  nemo, I am willing to make a bet

[11:56] {Threei}  all soundbites from China, Russia whoever else

[11:56] {Threei}  about replacing USD as reserve currency will never come to fruition

[11:56] {Threei}  all they'll acieve is furious discussions on various forums and boards

[11:57] {Threei}  case of vodka?

[11:57] {cosmo} ...then we will use tobacco

[11:57] {cosmo} again

[11:57] {dino} lol

[11:57] {nemo} never is a long time.  I don't think it'll be in the next few years..that is..since the world ends in 2012...

[11:57] {Threei}  oh

[11:57] {larisa} it does ?

[11:57] {dino} well then it is never if world ends

[11:58] {Threei}  right

[11:58] {nemo} Yeah...that's why the NFL's collective bargaining agreement ends on 2010

[11:58] {dino} i like it when a plan comes together

[11:58] {cosmo} 2012 is when the next one starts

[11:58] {Threei}  FED'S BERNANKE: TRADING CDSS THROUGH A CENTRAL COUNTERPARTY COULD EASE RISKS; AIG TRADED CDS THROUGH LACK OF HEDGING - Q&A

[11:58] {Threei}  - Recommends against stopping the CDS market as it may have negative fallout{AIG XLF NYX NDAQ}

[11:58] {nemo} thanks George

[11:58] {cosmo} i'm optimistic

[11:59] {larisa} I am too young to .. end..  

[12:00] {nemo} maybe you'll be one of the chosen people...you Jewish?

[12:00] {larisa} I want to end when I am 126

[12:00] {larisa} I am not

[12:00] {Threei}  126?

[12:00] {nemo} We're both screwed

[12:00] {larisa} can i become one fast ?

[12:00] {Threei}  I sincerely hope to, umm, expire looong before that

[12:00] {larisa} :)

[12:00] {cosmo} i may have to come out of retirement to serve the meek until the day i depart

[12:01] {cosmo} even if its a cashless society

[12:01] {nemo} Mags must be going nuts

[12:01] {Threei}  REPORTEDLY SOME US SENATORS PUSHING AG DEPT TO RAISE LIMITS ON US SUGAR IMPORTS TO AVERT A SHORTAGE IN DOMESTIC SUPPLIES

[12:01] {Threei}  {JJG IPSU}

[12:11] {dino} .

[12:12] {larisa} was wondering if it is 2012 already :)

[12:14] {dino} nite l .85

[12:15] {dino} ttes l .60

[12:16] {Threei}  MERRILL/BOA MAKING COMMENTS ON GAMING SECTOR, NET POSITIVE ON LVS (TIMING UNCERTAIN)

[12:16] {Threei}  - Cites LVS filed amendment to credit facility and its possibility to cushion a US convenant yet Macau convenants are still a risk

[12:16] {Threei}  - Merrill/BoA comments that MGM situation remains up in the air due to Dubai World lawsuit, even with MGM response that the lawsuit was without merit and that it is ready willing and able to fund its share of the costs to complete CityCenter{

06[12:24] * Threei slaps Chaeron around a bit with a large roll of cash

[12:24] {dino} v blood

[12:34] {KSystems} *yawn

[12:34] {Threei}  I second that

[12:37] {Threei}  lol, looking at RIMM... I don't think I remember it trading that slow, ever

[12:37] {dino}  ttes stopped .50 -.10

[12:46] {Threei}  oh boy... who would have expected the day to turn so slow and boring?

[12:48] {vint} is this quiet before the storm?

[12:48] {Threei}  very possibly

[12:48] {Threei}  things slowly drift upward

[12:48] {nemo} coul be the quiet before the quiet

[12:48] {Threei}  if highs start geting broken, expolosion is very likely outcome

[12:49] {nemo} C&H on Rimm?

[12:49] {Threei}  yes

[12:50] {Threei}  .50 should launch it if market helps

[12:50] {nemo} in

[12:51] {magoo} in.48

[12:51] {vint} in

[12:53] {Threei}  gosh... tell me hinstly, you ever seen this stock this slow??

[12:53] {Threei}  honestly too

[12:54] {magoo} oout .64 TY

[12:54] {nemo} scalp thanks

[12:54] {Threei}  it's RIMM for pete's sake

[12:54] {Threei}  widowmaker

[12:54] {nemo} still lunch time

[12:54] {Threei}  tame like little lamb

[12:55] {Threei}  OK... FAS/BAC back on watch

[12:55] {Threei}  US PRESIDENT OBAMA: REITERATES REGULATION MUST BE GLOBALLY COORDINATED TO BE EFFECTIVE, SEES G20 MEETING OF THE MINDS

[12:55] {Threei}  - imperative to have regulatory framework to address global capital flows that pose systemic risk

[12:56] {dino} rimm stop to .67

[12:56] {Threei}  YOUTUBE UNIT SAYS BLOCKED IN CHINA - WSJ

[12:56] {Threei}  - WSJ reports the video service was slowly blocked over the last 24 hours; company says it does not know the reason for the Chinese action.

[12:57] {dino} to .74

[12:57] {dino} ty vad

[12:58] {Threei}  sure thing

[12:58] {nemo} geez...I have my first broken clock moment and HE gets the credit...sheesh

[12:58] {dino} to .85

[12:59] {Threei}  [11:55] {Threei} it's my role to take credits for someone's achievements

[12:59] {dino} out rimm .85, +.30

[12:59] {dino} opps, thx nemoooooooooooooooo

[12:59] {nemo} What's your's is mine, what's mine is mine, and what's ours is mine...yep...heard that before

[12:59] {vint} rimm out +.25

[13:00] {dino} v spike

[13:00] {Threei}  variation: let's eat yours first, then each his own

[13:01] {nemo} Can take the boy out of the Soviet Union, but you can't take the Soviet Union out of the boy

[13:01] {Threei}  FAS, watch for long entry under .10

[13:01] {Threei}  desirably closer to 7

[13:04] {Threei}  if it doesn't lose .10, decide between agressive entry and regular

[13:04] {Threei}  rehular being .20 break

[13:06] {Threei}  US REPORTEDLY CONSIDERING BILL TO GRANT NON PROFIT STATUS FOR NEWSPAPERS

[13:06] {dino} cpla spanked

[13:06] {Threei}  {NYT GCI MNI WPO NWSA}

[13:07] {dino} now i've heard it all

[13:08] {Threei}  bailout becvomes just global

[13:08] {Threei}  bail out anything you meet

[13:08] {Threei}  anyone found FAS entry, keep stop under 7

[13:09] {Threei}  look to sell half close to .20

[13:09] {Threei}  you can always scalp of course, but feels to me, this is about to get interesting

[13:14] {Threei}  half out .18

[13:16] {Threei}  come on FAS, break down that wall

[13:18] {Threei}  game plan:

[13:18] {Threei}  once .20 broken, stop to under .10

[13:19] {Threei}  offer 1/4 closer to .30

[13:19] {Threei}  then will reevaluate

[13:20] {dino} v l .10

[13:20] {Threei}  1/4 more out .27

[13:20] {Threei}  told ya it was about to get interesting

[13:21] {Threei}  last portion, stop is still under .10

[13:21] {Threei}  and will try to get out closer to 7.50

[13:22] {Threei}  if FAS continues, GE .90 break long

[13:22] {Threei}  with stop under .80

[13:26] {Threei}  [12:48] {Threei} if highs start geting broken, expolosion is very likely outcome

[13:26] {Threei}  this is the slowest explosion I've ever seen

[13:26] {Threei}  but I'll take it

[13:26] {Threei}  FAS is getting there

[13:27] {Threei}  WHITE HOUSE ADVISOR VOLCKER: CHINA SHOULD NOT PUT ALL THE BLAME FOR IMBALANCES ON THE US

[13:28] {Threei}  out FAS .36

[13:28] {Threei}  +.30

[13:29] {Threei}  feels like pullback is coming

[13:29] {vint} fas out +.3

[13:29] {Threei}  high five

[13:29] {Threei}  or back slap

[13:30] {Threei}  your choice

[13:30] {vint} thanks vad

[13:30] {Threei}  welcome :)

[13:30] {Threei}  YOUTUBE WORKING TO RESOLVE PROBLEM IN CHINA

[13:30] {Threei}  oh good

[13:30] {Threei}  I was so worried about China not watching youtube videos

[13:33] {Threei}  US REP FRANK: HEDGE FUNDS SHOULD BE REQUIRED TO REGISTER WITH THE SEC

[13:33] {i2romantis} nice pullback

[13:34] {Threei}  I am not sure whether it's technical or reaction on this headline

[13:34] {Threei}  staying on a sideline

[13:34] {Threei}  GE no worky

[13:35] {Threei}  if it's technical, this is certainly an entry point

[13:35] {Threei}  if news-caused, no read

[13:35] {nemo} that "if" is an issue

[13:35] {Threei}  so I kind of prefer to err on a safe side

[13:35] {Threei}  and not to spoil near-perfect day

[13:38] {Threei}  whgile I remember... gtrader, lgcapital, pukac,

[13:38] {nemo} what?

[13:38] {Threei}  your trial falls on the time I leave to give seminar in the Bahamas,

[13:38] {Threei}  I won't be here from Friday to Thursday of the next week

[13:38] {nemo} seminar=vacation heheheheh

[13:39] {Threei}  so feel free to mingle with the gang meanwhile

[13:39] {nemo} Vad are you back trading on Thursday or Friday?

[13:39] {Threei}  and we will resume after my return

[13:39] {Threei}  if you get an euto e-mail telling you trial is over, just ignore it

[13:40] {Threei}  well, my return flight lands on Wed evening

[13:40] {Threei}  if I am alive, will be in the room Thu morning

[13:41] {Threei}  now, about this evilish implication:

[13:41] {Threei}  [13:38] {nemo} seminar=vacation heheheheh

[13:41] {Threei}  7 1/2 sessions over 2 days

[13:42] {Threei}  not my idea of vacation :)'

[13:42] {nemo} actually, you've got the brunt of the duties down there

[13:42] {Threei}  that's fine

[13:42] {vint} why Bhamas?

[13:42] {Threei}  I am one of those weird creatures who enjoy public speaking

[13:42] {Threei}  why no vint... nice spot :)

[13:43] {nemo} funny...struck me as the shrinking violet...wallflower type

[13:43] {Threei}  me??

[13:43] {Threei}  lol

[13:43] {vint} right, but are participants from Bhamas or they are alos visiting Bhamas

[13:43] {Threei}  wait for me about 30 minutes, that's how long it will take me to recover from groundshaking laughter

[13:43] {nemo} what vint ask?

[13:43] {Threei}  no, visiting

[13:44] {Threei}  people take vacation, attend seminar, write vacation off their taxes...

[13:44] {Threei}  ideal arrangement

[13:45] {vint} good idea

[13:45] {Threei}  there is time still to register I suppose :)

[13:45] {nemo} yep

[13:47] {vint} ge back

[13:47] {vint} ?

[13:47] {Threei}  not sure...

[13:47] {Threei}  tough to read

[13:48] {vint} k,thx

[13:49] {vint} on 5 mt, it looks like C&H

[13:49] {Threei}  sure does

[13:49] {Threei}  what bothers me is

[13:49] {Threei}  FAS looks absolutely unclear here

[13:49] {Threei}  and if you look at GE's volume,

[13:50] {Threei}  it has no pattern throughout the C&H

[13:50] {Threei}  it's practically flat

[13:50] {vint} got it, thx

[13:50] {Threei}  no this vilume increase toward the C&H rims and volume drop toward both bottoms

[13:51] {Threei}  FED'S DUKE: FED HAS BEEN 'AGGRESSIVE' WITH MONETARY POLICY

[13:51] {Threei}  yeah?

[13:51] {Threei}  OCC EXAMINERS: WILL NOT ASK BANKERS TO RESTRUCTURE LOANS, PRICING, OR LOAN LIMITS

[13:51] {Threei}  {XLF}

[14:03] {Threei}  IMF: NEEDS 'SUBSTANTIAL' INCREASE IN RESOURCES; APPROVES INCREASE IN FLEXIBILITY IN STANDBY ARRANGEMENTS; APPROVES NEW CREDIT LINE FOR EMERGING MARKETS FOR SIX OR 12 MONTH PERIODS

[14:03] {Threei}  - There is no hard cap on credit line a country may request

[14:03] {Threei}  - Will eliminate the time based policy that was designed to incentivize early repayments

[14:04] {Threei}  yeah... these are the guys we want to issue and manage world's reserve currency

[14:08] {Threei}  nice bounce on FAS, but GE is not really shaping up

[14:08] {Threei}  BAC is better candidate

[14:08] {nemo} bac in a range since 1:20

[14:09] {Threei}  if FAS continues, 8 break is ineterstiung for BAC

[14:09] {dino} ttes l .50 trig

[14:09] {Threei}  ineterstiung?

[14:09] {Threei}  sigh

[14:09] {magoo} back

[14:14] {Threei}  if we finish the day around here, rally resumption is likely tomorrow

[14:14] {Threei}  well, barring news of course

[14:14] {dino} gmrc ahain

[14:14] {dino} again

[14:15] {Threei}  I like BAC's strength

[14:15] {dino} gmcr i mean

[14:15] {Threei}  won't pullback even as FAS does

[14:17] {Threei}  great

[14:17] {nemo} prez speaking

[14:17] {Threei}  FAS teleported to 7.30 just as I started typing buy at .22

[14:18] {Threei}  OFFICE OF THRIFT SUPERVISION(OTS): CURRENTLY OBTAINING DAILY LIQUIDITY REPORTS IN EFFORTS TO INCRTEASE SUPERVISION OF HIGH RISK THRIFTS

[14:20] {magoo} vad, news RIMM..its realatively weak

[14:21] {nemo} NAS is weak today

[14:21] {Threei}  no news

[14:24] {magoo} on what?

[14:24] {Threei}  lol

[14:24] {nemo} Who's on first?

[14:28] {Threei}  IMF'S LIPSKY: GLOBAL CURRENCY IDEA IS NOT A NEW ONE, BUT IT WILL LIKELY GET SERIOUS CONSIDERATION

[14:28] {Threei}  uhhu

[14:28] {nemo} Case of gray goose please

[14:28] {nemo} grey

[14:29] {Threei}  or gray

[14:29] {_pukac} in ukraina which city you from

[14:29] {nemo} Wait a minute, that's French...Kettle 1

[14:29] {Threei}  Dnepropetrovsk

[14:29] {KSystems} Bless ya

[14:29] {Threei}  thank you

[14:29] {nemo} is that on the Dneiper?

[14:30] {Threei}  yes

[14:30] {nemo} interesting

[14:30] {_pukac} ok im from Poland Zakopane

[14:30] {Threei}  FED'S BULLARD: TO BEGIN OUTRIGHT PURCHASES OF TREASURIES TOMMOROW

[14:30] {magoo} polish women are quite good looking

[14:30] {_pukac} lol

[14:30] {Threei}  never been there...

[14:31] {Threei}  will take magoo's word on that

[14:31] {nemo} his wife must be polish

[14:31] {_pukac} Tatry mointain

[14:31] {nemo} and standing over his shoulder

[14:32] {KSystems} are your wives watching you trading?

[14:32] {magoo} :)

[14:33] {nemo} Funny...I believe the CHinese character for trouble or crisis, is the pictogram representing two women under one roof

[14:33] {nemo} I'm not kidding

[14:33] {Threei}  REPORTEDLY FRECH PRESIDENT SARKOZY HAS SAID WANTS TO ELIMINATE BUSINESS TAX

[14:34] {KSystems} what news is pushing GLD here?

[14:34] {Threei}  14:30] {Threei} FED'S BULLARD: TO BEGIN OUTRIGHT PURCHASES OF TREASURIES TOMMOROW

[14:34] {Threei}  [14:30] {magoo} polish women are quite good looking

[14:34] {Threei}  umm

[14:34] {KSystems} lol

[14:34] {Threei}  first line

[14:34] {KSystems} thanks

[14:34] {KSystems} :)

[14:34] {Threei}  not second :)

[14:35] {Threei}  FED'S BULLARD: SEES DISINFLATION RISKS; MUST ADDRESS TOO BIG TOO FAIL ISSUES

[14:35] {Threei}  - Increasing money supply will help avoid deflation; Fed can still increase balance sheet and avoid real interest rate increases

[14:35] {Threei}  - Fed should create a specific inflation target

[14:39] {Threei} Long Setup:  BAC  .81 if stays above .75

[14:45] {magoo} in

[14:46] {magoo} grrrrr

[14:48] {Threei}  okay finnies

[14:48] {Threei}  enough games

[14:48] {Threei}  let's go

[14:49] {dino} giddy-up

[14:49] {Threei}  hmmm

[14:49] {Threei}  immediate reaction was giddy-down :)

[14:50] {Threei}  feels like shakout attempts to me rather than genuine selling

[14:51] {dino} whats w/gmcr up big every day?

[14:52] {Threei}  no idea

[14:52] {Threei}  stopped BAC

[14:52] {fernp} no go BAC

[14:53] {Threei}  WHITE HOUSE ADVISOR VOLCKER: CAPITAL MARKETS NEED NOT THE REGULATION OF THE BANKING SECTOR

[14:53] {Threei}  {XLF}

[14:53] {Threei}  what then?

[14:53] {Threei}  and why do we sell on this?

[14:54] {dino} fcty

[14:54] {dino} no

[14:55] {Threei}  FED'S HOENIG: ECONOMY WILL RECOVER, TIMING UNCERTAIN; DEFLATION IS CLOSE TO THE BOTTOM OF PRIORITIES

[14:55] {Threei}  - Notes that this recent plan from the US Treasury makes assumption that majority of losses have already been taken

[14:55] {Threei}  - Fed does not need the ability to issue bills{

[14:56] {Threei}  too many talking heads at the same time

[14:58] {cosmo} i was gonna say something, but,...

[15:08] {Threei}  hmmm

[15:09] {Threei}  becomes tempting

[15:09] {Threei}  FED'S BULLARD: THERE ARE UPSIDE AND DOWNSIDE CONCERNS WITH REGARDS TO INFLATION -Q&A

[15:09] {Threei}  really?

[15:09] {Threei}  sheesh

[15:10] {cosmo} you need to be properly invested

[15:11] {cosmo} hi grade beach sand .... i'm thinking

[15:12] {dino} look at tbt

[15:14] {cosmo} fmcn should hold 6.50 imo

[15:14] {cosmo} fwiw

[15:14] {dino} sm l tbt .25

[15:17] {Threei}  double bottom BAC...

[15:17] {Threei}  .60 break is confirmation

[15:18] {Threei}  C

[15:18] {Threei}  DOW INDEXES: REVERSE SPLIT ANNOUNCEMENT MAY CUT REQUESTS FOR ELIMINATION FROM DOW JONES INDUSTRIAL AVERAGE

[15:18] {Threei}  {GM AA BAC DIA}

[15:19] {Threei}  fairly questionable trading last 30 min

[15:20] {Threei}  selloffs out of nowhere

[15:20] {dino} ya think

[15:20] {dino} bond spike was pretty big

[15:20] {dino} pull up tlt

[15:21] {Threei}  yeah

[15:25] {nemo} this is weird

[15:25] {nemo} which means I should feel at home

[15:25] {Threei}  what is?

[15:25] {nemo} the action

[15:25] {dptl} have a good evening all

[15:25] {dino} what would move the bond that much

[15:25] {Threei}  take care dp

[15:25] {dino} cya dp

[15:26] {Threei}  market was so giddy when the plan was announced

[15:27] {Threei}  now when they start implementing it, market can't find a hole big enough to hide

[15:28] {Threei}  FDIC GRUENBERG: AGENCY SUPPORTS FASB PROPOSAL TO EASE MARK-TO-MARKET IMPLICATIONS

[15:28] {Threei}  if this doesn't send market up

[15:29] {Threei}  okay... some upticks, maybe not all is lost

[15:30] {Threei}  'cause you know, if m2m change doesn't prop the market, we are going below zero

[15:31] {Threei}  - proposal allows firms to avoid recognizance of liquidity discount for some fair valued securities

[15:31] {Threei}  too vague

[15:33] {Threei}  BRIDGEWATER ASSOCIATES HEDGE FUND SENDS LETTER TO CLIENTS; REMARKS MAY BE INTERESTED IN TOXIC ASSET PLAN, YET CONCERNS REMAINS OVER PARTNERSHIP WITH US GOVT

[15:33] {Threei}  I wonder why

[15:34] {Threei}  what could possibly be wrong in partnership with giovernement?

[15:34] {Threei}  you may be summoned to senate and grilled by idiots who don't know what your company does for a living

[15:34] {Threei}  you may get your pay cut

[15:35] {Threei}  you may get cited for crowd's fury

[15:35] {Threei}  other than that... shrug

[15:38] {cosmo} fmcn tests hod 

[15:38] {cosmo} .75

[15:40] {larisa} was a great find cosmo, strong all day

[15:40] {cosmo} :)

[15:40] {larisa} :)

[15:41] {Threei}  well, we have small red inside day on lower volume

[15:41] {nemo} little consolidation

[15:41] {Threei}  so far so good for rally continuation

[15:41] {Threei}  need break of yesterday's high for confirmation

[15:42] {Threei}  red is not very convincing

[15:42] {Threei}  -50 DJI

[15:43] {Threei}  -26 COMP

[15:43] {Threei}  unless market gets angry at my dismissal of its efforts and sells down like crazy over next 15 minutes, it's nothing

[15:47] {Threei}  I take that back market

[15:47] {Threei}  just relax

[15:47] {dino} out tbt .85, +.60

[15:53] {Threei}  quite a selloff in financials

[15:53] {larisa} I think you made it angry

[15:54] {Threei}  afraid so

[15:56] {Threei}  so, is it idea of regulating hedge funds, insurance companies etc that is kmilling them now?

[15:56] {Threei}  -117

[15:57] {nemo} FAZ IS BACK ON THE MENU BOYS!!! (and girls)

[15:58] {magoo} LORD OF THE RINGS

[15:58] {nemo} Uruk Hai

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all

[15:59] {Threei}  have a good evening, see you tomorrow

[15:59] {larisa} bye all

[15:59] {fernp} good evening all

[15:59] {VINOD} thanks vad could not be here all day. may be tomorrow

[16:00] {Threei}  we will be here :)

[16:00] {vint} good evening all, see you all tomorrow

Mar 23 2009

Beautiful day. We recognized signs of rally brewing early which is not always easy after a big gap up. Long plays only, 5 wins out of 6 early calls on FAS, BAC, WFC, HIG. Sat out some boring period while market consolidated, then got some more longs on RIMM and WFC. No complaints at all.

Session Time: Mon Mar 23 00:00:00 2009

[08:00] {Threei}  Good morning sleepless souls

[08:00] {Threei}  (US) WHITE HOUSE ADVISOR: 8% OF FUNDING FOR TOXIC ASSET PLAN TO COME FROM PRIVATE SECTOR

[08:00] {Threei}  - Toxic asset plan to be one piece of strategy, will see if banks need more capita

[08:00] {Threei}  FORMER SEC CHAIRMAN LEVITT: PPIP PLAN IS 'A LOT OF THE SAME'

[08:00] {Threei}  - PPIP is at best not guarantee for success

[08:05] {nemo} FAS!

[08:06] {Threei}  Geithner is on at 8:45

[08:06] {Threei}  with details of the plan

[08:07] {nemo} Things are rocketing out of the gate...wonder if that'll be a speed bump.

[08:30] {Threei}  if you are interested in deeper understanding of new plan by Terrific Tim, this is nice explanation:

[08:30] {Threei}  http://seekingalpha.com/article/127152-the-geithner-plan-faq?source=article_sb_popular

[08:30] {laserdave} im in laser now guys

[08:31] {Threei}  thanks Dave, in too

[08:31] {laserdave} cool

[08:31] {laserdave} now lets make some monies

[08:31] {Threei}  well, with such gaps, gotta wait a bit

[08:33] {nemo} I'm still having trouble getting in

[08:33] {Threei}  slap dave?

06[08:34] * nemo slaps laserdave around a bit with a large empty roll of cash because I can't get into LASER!!!

[08:34] {nemo} that might not hurt enough

[08:36] {laserdave} everyone is in

[08:37] {nemo} yep

[08:37] {laserdave} are you saying you are in now?

[08:37] {nemo} That's a roger

[08:37] {laserdave} ok great

[08:37] {laserdave} happy trading

[08:41] {Threei}  poor FAZ

[08:47] {Threei}  welcome back Larisa!

[08:47] {larisa} good morning, thanks :)

[08:48] {larisa} you guys having fun ?

[08:48] {Threei}  too much of it

[08:50] {pita} morning everyone

[08:51] {Threei}  pita :)

[08:53] {Threei}  just don't jump on financials here guys

[08:53] {Threei}  the risk of gap and trap is huge

[08:57] {magoo} morning

[08:58] {Threei}  magoo :)

[08:58] {dptl} good morning

[08:58] {Threei}  dp :)

[08:59] {magoo} u in pre mkt vad?

[08:59] {Threei}  PIMCO'S BILL GROSS: INTERESTED IN POTENTIAL DOUBLE DIGIT RETURNS FROM TREASURY'S TOXIC ASSET PROGRAMS

[08:59] {Threei}  - Notes that will participate in the toxic asset program

[08:59] {Threei}  - Adds that toxic asset plan should be welcomed by the markets

[08:59] {Threei}  in what?

[09:00] {magoo} anything?

[09:00] {Threei}  US TREASURY GEITHNER: STRESS TEST, ACCESS TO MORE CAPITAL WILL REDUCE ODDS OF DEEPER RECESSION

[09:00] {Threei}  no

[09:03] {Threei}  [08:53] {Threei} just don't jump on financials here guys

[09:03] {Threei}  [08:53] {Threei} the risk of gap and trap is huge

[09:04] {fernp} Hello everybody

[09:04] {Threei}  fern :)

[09:06] {Threei}  - Notes plans will assist in clearning balance sheets for banks and improve lending; Govt could not purchase assets on its own

[09:06] {Threei}  - Aims to reduce additional asset price declines; may see large deleveraging without the plan{XLF TLT IEF USD/JPY GBP/USD EUR/USD}

[09:10] {Threei}  BALTIC DRY BULK INDEX -0.5%, 9TH STRAIGHT DECLINE

[09:11] {elepet} I don't understand this (baltic down) components seem to be up today.

[09:11] {Threei}  headline on CNN says: How the bank rescue plan will work

[09:12] {Threei}  as if it was a given that it will :)

[09:12] {Threei}  well, stocks of shippers are up on generak market strength

[09:12] {magoo} a few on cnbc very skeptcal

[09:12] {Threei}  baltic index is not a market index

[09:13] {Threei}  it's reflection of physical shipment numbers

[09:13] {magoo} obama news conf tues nite tv, was on 60 minutes last nite...hes a movie star

[09:13] {dino} gm all

[09:13] {Threei}  dino :)

[09:13] {magoo} jay leno over weekend

[09:13] {elepet} oh. thanks.

[09:14] {magoo} i hear he is going to be on the next "\dancing with the stars "

[09:15] {dino} lol

[09:15] {Threei}  gap is mostly holding

[09:15] {Threei}  so, usual question with large gaps:

[09:15] {dino} fade

[09:15] {cosmo} gap needs a stress test

[09:16] {Threei}  fade, locked into narrow range or continuation

[09:17] {Threei}  more or less readable scenario would be:

[09:18] {Threei}  opening around here,

[09:18] {Threei}  forming narow range,

[09:18] {Threei}  then break of the high and start of slow confident climb

[09:19] {Threei}  if that happens, we are in for a nice gains

[09:19] {Threei}  if opening is hectic with wide ranges, will have to wait it out

[09:19] {pita} watching anything in particular?

[09:19] {Threei}  financials

[09:19] {Threei}  FAS, BAC,

[09:19] {Threei}  WFC'

[09:20] {Threei}  HIG

[09:20] {Threei}  PRU

[09:21] {Threei}  let's be patient on the open, this kind of gap can present very unpleasant surprises for premature entries

[09:22] {vint} good morning all

[09:22] {Threei}  vint :)

[09:24] {Threei}  TREASURY SEC GEITHNER: CAN'T JUDGE AT THIS TIME IF MORE FUNDING WILL BE NEEDED TO STABILIZE THE FINANCIAL SYSTEM

[09:24] {Threei}  - Not asking for more money at the current time

[09:24] {Threei}  - Will continue to work with Congress to insure that enough funds are allocated

[09:24] {Threei}  - Has seen broad support across countries for continued financial reform

[09:24] {Threei}  - Other countries will follow US example and provide direct support for credit markets

[09:26] {Threei}  useless observation:

[09:27] {Threei}  WFC formed premarket C&H with .85 resistance, .60 support

[09:29] {ese} morning...... late to the party

[09:29] {Threei}  ese :)

[09:30] {Threei}  ok... let's see if we get pullback and how deep

[09:30] {nemo} huh, LASER just crapped out

[09:31] {Threei}  fine here

[09:31] {Threei}  BAC topped out just under .40

[09:31] {Threei}  FAS .24

[09:32] {Threei}  first try:

[09:32] {Threei} Long Setup:  FAS  .11 if holding above 6

[09:33] {Threei}  invalidated

[09:34] {nemo} My LASER not working

[09:34] {Threei} Long Setup:  BAC  .21 if holding above .15

[09:34] {magoo} try new quoteserver

[09:36] {Threei}  FAS modification: long .861 if holding above .80

[09:36] {Threei}  US TREASURY SPOKESPERSON: NEW PUBLIC/PRIVATE PARTNERSHIP PROGRAM IMPLEMENTATION WILL BE FASTER THAN THE TALF PROGRAM IMPLEMENTATION

[09:36] {nemo} see you guys in a while.  I have to reboot

[09:36] {magoo} c u

[09:36] {Threei}  BAC becomes interesting here for bounce

[09:37] {Threei}  .06

[09:37] {Threei}  if holsding above 7

[09:37] {Threei}  FAS, half out or scalp

[09:38] {Threei}  BAC half out or scalp

[09:38] {Threei}  if taking half, stop to under b/e

[09:38] {ese} CETV dino?

[09:40] {Threei}  BAC, feel free to take full profit if spikes to around .30 - .35

[09:40] {Threei}  FAS .15 - .20

[09:41] {Threei}  trail stops:

[09:41] {Threei}  BAC to under .10

[09:42] {Threei}  FAS to under 5.90

[09:43] {vinod} GM

[09:43] {Threei}  morning vinod

[09:43] {dino} online ed's not participating

[09:44] {Threei}  OK, both are done for now

[09:44] {Threei}  gotta reevaluate

[09:44] {Threei}  and let them form new setups

[09:44] {nemo} How many trades I miss?

[09:44] {Threei}  2

[09:44] {Threei}  US TREASURY SEC GEITHNER: DANGER AT THE MOMENT IS THAT FINANCIAL SYSTEM WILL NOT TAKE ENOUGH RISK; PLAN WILL REDUCE CHANCES OF DEEPER RECESSION; NO DOUBT THE PLAN TAKES A RISK, BUT CONFIDENT THE PLAN PROVIDES BALANCED INCENTIVES - PRESS BRIEFING

[09:44] {Threei}  - Notes plans will assist in clearing balance sheets for banks and improve lending; Govt could not purchase assets on its own

[09:44] {Threei}  - Aims to reduce additional asset price declines; may see large deleveraging without the plan

[09:44] {Threei}  - Believes govt can move and react 'quite quickly'

[09:44] {Threei}  - Not willing to make decision at current time regarding additional funding needed for Treasury

[09:45] {Threei}  talking heads keep talking and distort the movement

[09:46] {Threei}  BAC looks relatively stronger

[09:50] {Threei}  hard to tell yet whether it's a last pullback before rally rewsumption, or we simply fizzle out here

[09:50] {dino} wmt, mcd not moving

[09:50] {Threei} Long Setup:  BAC  .11

[09:51] {Threei}  if stays above .05

[09:51] {Threei}  invalidated

[09:52] {Threei}  looks like fizzle out takes over

[09:53] {nemo} RIMM is strengthening

[09:53] {dino} hmmmm, gap fill in the making?

[09:54] {Threei}  hard to tell still

[09:56] {dino} not ready to bet it yet

[09:56] {wulff} seems like we are building to a bounce

[09:57] {Threei} Long Setup:  WFC  .45 if stays above .35

[09:57] {magoo} in

[09:59] {Threei}  over 1:1, half out or scalp

[09:59] {dino} shlm

[09:59] {dino} uthr

[09:59] {wulff} scalp ty

[10:00] {Threei}  *FEB EXISTING HOME SALES:4.72 M V 4.45ME

[10:00] {Threei}  wow

[10:00] {Threei}  crisis is over

[10:00] {Threei}  umm

[10:00] {Threei}  I guess

[10:00] {Threei}  WFC babay

[10:01] {magoo} out .76 TY

[10:01] {Threei}  out too

[10:01] {Threei}  .78

[10:01] {vint} good one WFC, thx

[10:01] {Threei}  welcome

[10:02] {magoo} nice vad

[10:02] {Threei}  wastching HIG for pullback entry

[10:02] {Threei}  8.25 zone

[10:03] {Threei}  don't be in a rush to jump in, this market still has to prove itself

[10:04] {Threei}  untill we get that steady confident buying, we are operating on the assumption that rally will be faded

[10:04] {magoo} STT maniac today

[10:04] {Threei}  today?

[10:04] {Threei}  it's maniak, period

[10:04] {magoo} yea..agree

[10:04] {Threei}  HIG is getting there

[10:05] {Threei}  still weakness in the market

[10:05] {Threei}  let's structure it this way:

[10:05] {Threei}  .31 long if holding .25

[10:05] {Threei}  6 cents stop

[10:06] {Threei}  reasonable enough

[10:06] {magoo} well..missed blew thruy

[10:07] {Threei} Long Setup:  FAS  6.12 if holding above 6.05

[10:07] {Threei}  or above 6 for a day trade

[10:08] {pita} HIG still good?

[10:09] {Threei}  same setup from here

[10:10] {Threei}  okay market

[10:10] {Threei}  time to decide

[10:11] {Threei}  as Tom Waits would say... we all want to know how its going to end

[10:12] {Threei}  HIG here we go... offer half or take profit here who got it

[10:12] {pita} out ty

[10:12] {fernp} out ty

[10:13] {Threei}  wecome guys... 4 for 4 so far

[10:13] {vint} out thx

[10:14] {pita} missed BAC, only 3 for 3 :(

[10:15] {Threei}  can I be coarse and say "cry me a river"? :)

[10:15] {pita} cry cry cry

[10:15] {pita} thanks Vad

[10:15] {Threei}  :)

[10:16] {Threei}  consolidation...

[10:16] {Threei}  feels like we are on a verge of march up beginning

[10:16] {magoo} out HIG .49 TY

[10:16] {Threei}  welcome mags

[10:16] {magoo} i missed 1 also..he he

[10:16] {magoo} like 100% tho

[10:16] {Threei}  why did I miss GE beautiful setup at .11

[10:16] {magoo} u need a 4th eye

[10:17] {Threei}  no kidding

[10:17] {Threei}  or I need to wake up those I have'

[10:17] {dino} wow, +260

[10:17] {magoo} or dish out assignments here..like give dawg a stock to watch

[10:17] {Threei}  and no sign of slowing down

[10:17] {dino} 7566, 1225, 803 wed. highs

[10:18] {dino} out rick swing .35, +.40

[10:18] {nemo} out hig 2:1 ty

[10:18] {Threei}  nemo :)

[10:18] {nemo} kick fas vad

[10:18] {Threei}  FED'S ROSENGREN: FED HAS BEEN 'PROACTIVE'; RATE CUTS HAVE 'CUSHIONED' ECONOMIC SHOCKS

[10:18] {magoo} out there waiting on fas .21

[10:21] {Threei}  very stingy play:

[10:21] {magoo} kickin it

[10:22] {Threei} Long Setup:  GE  .21 if stays above .15

[10:22] {Threei}  in

[10:23] {fernp} in

[10:23] {Threei}  semiagressive entry

[10:23] {vint} in

[10:23] {Threei}  kind of counting on breakout at .26 to make it work

[10:23] {magoo} innnnnnnnn

[10:23] {Threei}  with 6-7 cents stop, just a sin not to give it a chance

[10:24] {Threei}  if this one fails, gotta back away

[10:26] {Threei}  can you feel how market is trying to make up its mind here?

[10:29] {wulff} gappers  want to close it

[10:29] {Threei}  I hope it does while we are yuong

[10:30] {ese} patience if your there.....what are symbols for the currency ETF's that your trading

[10:31] {dino} es, i use udn, uup 2x's

[10:32] {Threei}  PALM

[10:32] {Threei}  DIGITIMES REPORTS TAIWAN HANDSET MAKER DELAYING SHIPMENTS OF SMARTPHONES TO PALM FROM MID-YEAR TO THE END OF THE YEAR

[10:32] {Threei}  - also reports Taiwan's Compal Communications says smartphone orders from Motorola cut substantially{MOT}

[10:32] {ese} tks

[10:33] {Threei}  hmmm

[10:33] {Threei}  not sure why PALM moves up on that, lol

[10:34] {wulff} this GE base tradeable?

[10:34] {Threei}  ?

[10:35] {wulff} seems more likely to fall now

[10:35] {Threei}  not sure what you mean

[10:35] {Threei}  well,

[10:35] {Threei}  if uncomfortable with it, just scratch it

[10:35] {Threei}  it's practically flat

[10:36] {wulff} scratch what?

[10:36] {Threei}  with stop .14 I am willing to let it trade

[10:36] {Threei}  existing position

[10:36] {magoo} out fas TY

[10:36] {magoo} took .19

[10:36] {Threei}  [10:22] {Threei} Long Setup: GE .21 if stays above .15

[10:36] {magoo} fl

[10:36] {Threei}  welcome mags

[10:37] {Threei}  you missed that call wulff?

[10:37] {wulff} no was just skittish with a that base forming

[10:42] {Threei}  with all the impressive gainst, most of them are in the gap

[10:42] {Threei}  so actual after-opening move is modest

[10:43] {Threei}  which explains why we are getting scalping profits mostly

[10:44] {ese} L JNPR 3/4 .87

[10:46] {magoo} .

[10:47] {Threei}  beconsiderate of your sleeping comrades magoo

[10:48] {magoo} got some weird message

[10:48] {Threei}  hmmm

[10:48] {magoo} thought i was discombobulated

[10:49] {Threei}  stop browsing those porn sites

[10:49] {magoo} but when i do mkts go up..i find it offensive, but anything for the trading group

[10:49] {Threei}  ah

[10:50] {dino} sm s dia .35

[10:51] {Threei}  market is jittery here

[10:52] {Threei}  not sure why, no news that I see

[10:52] {wulff} its me I'm sure

[10:52] {Threei}  wow... what power

[10:53] {nemo} RIMM VAD

[10:53] {Threei}  forms break

[10:53] {ese} &^$#^ JNPR

[10:53] {Threei}  whether it's playable or not, will totally depend on the market

[10:54] {Threei}  if you like it for a break, stop would be under .85

[10:55] {ese} stopped out JNPR .69 -.18

[10:56] {dino} fwiw dia short, bstop is hod

[10:57] {Threei}  prez remarks on clean energy at 12:30

[10:58] {dino} -.30 dia stopped

[10:58] {Threei}  GE held by fingertips

[11:03] {Threei}  IMO, the loner market lingers here, the better chance we have for rally

[11:03] {Threei}  loner = longer

[11:08] {Threei}  WHITE HOUSE'S SUMMERS: GRATIFIED ABOUT THE MARKET REACTION TO THE GEITHNER PLAN

[11:08] {nemo} What, the Wile E. Coyote reaction?

[11:08] {Threei}  JAVA

[11:08] {Threei}  HEARING CHATTER THAT IBM MAY DROP PLAN TO PURCHASE THE COMPANY

[11:08] {Threei}  {IBM}

[11:08] {Threei}  lol

[11:09] {Threei}  does it go all the weay back to 5 then?

[11:10] {Threei}  GE stopped

[11:11] {nemo} yeah, I scalped it

[11:11] {fernp} stopped too

[11:12] {dino} out cop call +53%

[11:13] {nemo} Vad, shouldn't you admonish Dino for indecent profits?

06[11:13] * magoo slaps dino around a bit with a large trout

[11:15] {Threei}  I don't understand % nemo

[11:15] {Threei}  so he is off the hook for now

[11:15] {dino} :)

[11:16] {wulff} like to see FAS +.20

[11:17] {dino} mind mixed up, i'm a seller high buyer low

[11:18] {nemo} huh?

[11:18] {dino} i can't buy these levels

[11:18] {nemo} because of the gap up?

[11:18] {Threei}  market still looks like preparing another leg of rally, I just have troubles undetifying followers

[11:18] {Threei}  financials cooled off

[11:19] {Threei}  techs don't look very hot either

[11:20] {dino} nemo, just my style, my mind says i'm a seller higher

[11:21] {nemo} yeah, kicked myself in the ass when you made that comment about cnqr going down to x.xx on Friday.  Thought after what a moron I was for not shorting it

[11:21] {Threei}  US PENTAGON: AIMING TO FOCUS ON SENSORS AND CONTROL EQUIPMENT, NOT NECESARILY MISSILES

[11:23] {Threei}  looked at CLNE as possible candidate on upcoming prez speech

[11:23] {Threei}  daily looks nice but it trades by appointment

[11:24] {dino} why clne?

[11:24] {dino} nat. gas play

[11:26] {Threei}  nat gas, wind, something else

[11:29] {dino} sm s spy .75, stop hod

[11:30] {dino} i might be wrong 3i, but clne is play on converting cars to nat gas

[11:30] {nemo} yes, I believe you're right dino

[11:31] {Threei}  yes... so how is it not a clean eergy?

[11:31] {nemo} I was just affirming Dino's supposition, not denying your assertion

[11:32] {dino} qid sm l .85

[11:33] {vinod} wow!!! look like we going to reach 14000 on dow tomorrow?

[11:33] {wulff} no, wednesday

[11:34] {dino} lol

[11:35] {dino} obamination has saved the world by opening up he printing presses

[11:35] {dino} somehow i think this ends badly

[11:35] {nemo} Just get your wheelbarrow to fill with money to go buy a loaf of bread

[11:37] {magoo} vad lived thru that in days of tzar ..right vad

[11:38] {Threei}  lol

[11:38] {nemo} ohoh

[11:38] {Threei}  actually, in days of perestroika

[11:38] {Threei}  there was period of hyperinflation

[11:39] {Threei}  go to sleep with exchange rate 5,000:1, wake up to 9,000:1

[11:39] {dino} and you weren't short

[11:39] {Threei}  to give you an idea:

[11:39] {Threei}  within 1 year I made three purchases,

[11:39] {Threei}  car for 6,000 roubles,

[11:40] {Threei}  6 monhs later nice cottage with garden beyond city limits for 12,000,

[11:40] {Threei}  and 6 months later, VCR for 25,000

[11:40] {Threei}  that's your inflation :)

[11:41] {wulff} that's let's move

[11:41] {dptl} lol...that was nice vcr Vad...

[11:42] {vinod} but it doesn't play po___

[11:44] {Threei}  with two kids in the house, I wouldn't know... never tried :)

[11:45] {nemo} pong vinod?

[11:45] {Threei}  anyone went for RIMM?

[11:46] {magoo} forgot about it

[11:46] {Threei}  that's OK, let it be

[11:46] {Threei}  not sure it has much, unless market totally explodes

[11:46] {magoo} aapl never even pulled back

[11:47] {Threei}  netiehr did AMZN

[11:50] {dino} pressure building

[11:51] {Threei}  and feels up

[11:51] {dino} hard bstops in

[11:53] {dino} stopped spy and qid

[11:56] {dino} ceco l .03

[11:56] {Threei}  REPORTEDLY EXPLOSION SEEN AT PAKISTANI POLICE STATION IN THE CAPITAL, ISLAMABAD

[11:57] {dino} cedc l .00

[11:59] {Threei}  lol... believe it or not but FAS reached 1:1

[12:00] {Threei}  took just couple hours

[12:03] {dino} ceco stop to .13

[12:03] {dino} cedc is .86

[12:05] {cosmo} CLNE {=} PBW?

[12:07] {dino} ceco to .17

[12:07] {Threei}  US PRESIDENT OBAMA: CONFIDENT TOXIC ASSET PLAN WILL WORK

[12:07] {Threei}  - seeing some signs of hope in housing market

[12:07] {Threei}  - economy still has long way to go but seeing some activiy in student and auto loan markets

[12:10] {dino} out ceco .19, +.16

[12:17] {cosmo} brcm

[12:34] {Threei}  yawn

[12:35] {pita} ty for posting - thought I'd lost connection..........

06[12:36] * KSystems sneeks up behind Three

[12:36] {KSystems} BOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

[12:36] {Threei}  lol

[12:47] {nemo} ok wulffy, do something about the market

[12:48] {wulff} does seem that my powers a waining

[12:48] {Threei}  let's send magoo to a bathroom

[12:48] {Threei}  prez on TV soon

[12:48] {magoo} ok..gotta pee anyway

[12:48] {nemo} he probably took the laptop in to surf the net anyway...if you know what I mean

[12:53] {Threei}  US CONGRESSIONAL AIDES: HOUSE PANEL FORMULATING LEGISLATION TO UNWIND FAILING NON BANK FIRMS; COULD CONSIDER AN 'UNWINDING AUTHORITY' AT MARCH 31 BILL DRAFTING MEETING

[12:53] {Threei}  {AIG MET PRU XLF}

[12:53] {Threei}  unwinding authority eh

[12:54] {Threei}  FAS goes for day high

[12:55] {dino}   another govt "task force" in the making

[12:55] {Chaeron} we'll have 0% unemployment soon... everyone working for the govt... Hi all 

[12:56] {Threei}  we have too few of those

[12:56] {Threei}  chaeron :)

[12:56] {dino} lol

[12:57] {dino} qid l sm .48

[13:01] {Threei}  prez on TV

[13:03] {Threei}  US TREASURY'S GEITHNER: BANKS WILL BEGIN RAISING NEW EQUITY SHORTLY, UNCLEAR WHAT TIME FRAME

[13:03] {Threei}  - says must ensure that compensation issues do not deter investors; reiterates the Administration will work with Congress on the issue; says compensation reform must be part of regulation reform measures.{XLF AIG}

[13:05] {cosmo} i'd go for the Geologic time standard; it gets more done

[13:05] {dino} darn, can't borrow isrg at cyber

[13:06] {Threei}  no clean energy stock even breathed

[13:06] {ese} outta here for the day.......spring break is over and it's back to work...take care

[13:06] {dino} cya es

[13:06] {Threei}  take care ese

[13:06] {ese} see ya dino

[13:07] {dino} "banks raise equity", selling more shares

[13:08] {Threei}  dino.. look at CNQR

[13:08] {dino} problem is fridays' drop in it

[13:09] {dino} could keep going to 22 area

[13:10] {Threei}  BAC breaks out

[13:14] {Threei}  FAS is finally +.20 from entry

[13:14] {Threei}  who was looking for +.20?

[13:14] {Threei}  wulff?

[13:14] {wulff} yes

[13:14] {Threei}  there you go

[13:14] {wulff} I am wayyy long so fine

[13:15] {wulff} was going to get more, 

[13:15] {wulff} but could not evaluate an entry

[13:15] {Threei}  sure was tough

[13:15] {Threei}  was locked in tight range for so long

[13:19] {Threei}  day traders are weird creatures... imagine, normal invesotr looks at the end of day number, says "wow, +300, you had an exciting day"

[13:20] {Threei}  you says, well, more like an hour

[13:20] {Threei}  slept through the rest

[13:22] {dino} hmsy

[13:25] {Threei}  (RU) RUSSIAN PM PUTIN: UKRAINIAN GAS DECLARATION WAS 'UNPROFESSIONAL'; WILL REVIEW EU TIES IF INTERESTS IN ENERGY ARE IGNORED

[13:25] {Threei}  - Note: EU and Ukraine signed a joint declaration earlier today that they will modernize Ukraine's natural gas pipeline system, and should aim to double its gas storage, but suggested Russia should be included in the upgrades of the pipeline system. The Ukrainian President noted that it was open to gas discussions with Russia.{UNG}

[13:28] {dino} air pocket

[13:28] {Threei}  is this sent market down so sharply??

[13:28] {Threei}  is = has

[13:29] {dino} no

[13:29] {dino} didn't send oil/gas up

[13:29] {Threei}  yeah, UNG downticked too

[13:30] {Threei}  I'd expect it to explode if this headline had any material importance

[13:31] {dino} right, imo

[13:34] {Threei}  wow

[13:34] {Threei}  this is not something you see every day:

[13:34] {Threei}  BOA/MERRILL ANALYST SUGGESTS SELLING FINANCIAL STOCKS INTO STRENGTH (TIMING UNCERTAIN)

[13:34] {Threei}  *This story was originally posted to clients entitled to Global Equities

[13:35] {wulff} Boa recc. selling Boa?

[13:35] {Threei}  forgive me for being cynic, but it rather sounds to me like "crap, looks like the bootom is in and we haven't loaded the truck full enough"

[13:37] {dino} out qid .98, +.50

[13:37] {Threei}  wtg

[13:38] {dino} way soon, was laying out

[13:38] {Threei}  BCS

[13:38] {Threei}  ISHARES UNIT MAY HAVE REPORTEDLY GAINED A $6B BID FROM GOLDMAN SACHS - UNCONFIRMED REPORT

[13:39] {Threei}  GE

[13:39] {Threei}  MOODY'S LOWERS GE AND GE CC RATINGS TO AA; OUTLOOK STABLE

[13:44] {pita} day job - gl all

[13:44] {Threei}  take care pita

[13:46] {dino} cya pita

[13:49] {Threei}  GE

[13:49] {Threei}  CEO IMMELT: MOODY'S ACTION NOT UNEXPECTED; SEES NO OPERATIONAL EFFECTS OR SIGNIFICANT FUNDING EFFECTS FROM DOWNGRADE

[13:51] {dino} lphi partial fill l .37

[13:56] {dino} hmsy lod

[14:00] {dino} hmmmm didn't expect that fill, sm l hmsy

[14:01] {dino} .05

[14:05] {wulff} I am leaving, so my ability to hold the market in place is gone.

[14:05] {Threei}  awwww

[14:05] {Threei}  can we offer you any incentive to stay?

[14:05] {wulff} Hopefully I was holding it down

[14:05] {Threei}  on the other hand... why not get a pyullback and enter tonorrow

[14:06] {Threei}  only with better typing, lol

[14:06] {wulff} sounds good. LAter

[14:06] {Threei}  see you tomorrow wulff :)

[14:07] {dino}   cya wuff

[14:16] {Threei}  it's actually a frequent occurence for a market to become narrow and lifeless after a big gap, but sheesh

[14:16] {Threei}  we are lucky we got those early plays

[14:17] {Threei}  5 out of 6, I can live with that

[14:31] {magoo} nice work boss

[14:31] {Threei}  huh?

[14:32] {Threei}  whatcha talking about?

[14:32] {magoo} [14:17] {&Threei}  5 out of 6, I can live with that

[14:32] {Threei}  gosh... I long forgot

[14:32] {magoo} lol

[14:32] {Threei}  my memory span is 2 min

[14:32] {Threei}  and notice, it's 6 times longer than fish

[14:33] {Threei}  WFC... .20 zone is probably bounce-worthy

[14:35] {magoo} aint gonna pullbk

[14:37] {Threei}  US CREDIT UNION REGULATOR FRYZEL: IN TALKS WITH LAWMAKERS ABOUT CREATING CORPORATE STABILIZATION MECHANISM

[14:38] {Threei}  another commission I assume

[14:38] {Threei}  BAC... C&H on intraday

[14:39] {Threei}  with 7.40 break level

[14:39] {dino}    2 were taken over friday, credit unions

[14:39] {dino} failed i mean

[14:39] {Threei}  (FR) FRENCH PM FILLON: DO NOT WANT TO CREATE A BUBBLE IN PUBLIC DEBT

[14:39] {Threei}  ummm... maybe a bit too late for that?

[14:42] {dino} hmsy stop to b/e dead

[14:44] {dino} stopped waiting buck lower

[14:52] {Threei}  FAS pullback to .40 for entry

[14:52] {Threei}  looks like last hour can brign us frenzy buying

[14:53] {Threei}  WFC perfect pullback to .20 btw

[14:53] {Threei}  anyone got it?

[14:56] {dino} hmsy l .03

[15:06] {magoo} i took ms off your call on wfc

[15:07] {Threei}  must have worked, since i haven't seen you cursing

[15:08] {magoo} i let it pullbk {AKA bac}..then scalped out

[15:08] {magoo} just to tired to type it'

[15:09] {Threei}  http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE52M4SS20090323

[15:09] {Threei}  not that I was delighted by Krugman's plan... but his critisism of the current one makes sense

[15:15] {magoo} RIMM vad

[15:16] {Threei}  .50 break?

[15:16] {Threei}  with stop under .35?

[15:16] {magoo} yea

[15:17] {magoo} yup

[15:17] {Threei}  US SENATOR COLLINS(R) PROPOSES LEGISLATION FOR A SYSTEMIC RISK MONITOR

[15:17] {Threei}  {XLF}

[15:17] {vint} in

[15:17] {magoo} thinkin .70 area

[15:25] {Threei}  BARTON BIGGS: US STOCKS 'ATTRACTIVE', BULLISH O0N EMERGING MARKETS (TIMING UNCERTAIN)

[15:25] {Threei}  - likes largecap tech companies{EEM SMH}

[15:26] {cosmo} institutional blocks will ring the bell

[15:26] {cosmo} imho

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

[15:28] {Threei}  take care dp

[15:29] {Threei}  GS

[15:29] {Threei}  MAY REPORTEDLY SELL STAKE IN CHINA BANK ICBC IN EFFORTS TO PAY BACK TARP CAPITAL - WSJ

[15:30] {Threei}  +411

[15:30] {Threei}  half out RIMM here?

[15:31] {magoo} im waiting .76

[15:31] {Threei}  took its sweet time

[15:31] {magoo} yea..rude

[15:31] {Threei}  FAZ new 52 low

[15:31] {cosmo} didn't china bank just buy yusemite?

[15:31] {magoo} kickin it

[15:32] {Threei}  what price will they meet at?

[15:32] {Threei}  FAZ and FAS

[15:32] {magoo} half out vad

[15:32] {magoo} stop .49

[15:33] {Threei}  :)

06[15:34] * magoo slaps laserdave around a bit with a large trout

[15:34] {vint} my guess is @10, fas/faz 

[15:35] {Threei}  feels about right

[15:36] {magoo} skf down 27 points......yikes

[15:37] {magoo} just once in my life i wanna have 200,000 shares of something that rips 27  points IN MY FAVOR

[15:37] {Threei}  UPDATE: FEDS LOCKHART: TREASURIES COULD BE EASIER TO UNWIND FROM BALANCE SHEET WHEN EXIT IS RIGHT; DECISION TO PURCHASE TREASURIES WAS DUE TO WORSENING OUTLOOK

[15:39] {Threei}  RIMM 1:2

[15:40] {Threei}  CNQR

[15:40] {Threei}  SAYS PRESIDENT RAJEEV SINGH ALSO MADE AN INCORRECT DEGREE CLAIM

[15:40] {Threei}  - President Rajeev Singh recieved a degree from Western Michigan

[15:40] {Threei}  lol

[15:40] {Threei}  market ends on giddy note

[15:41] {Threei}  FAS is asking itself: can I hiot 7 today?

[15:41] {cosmo} there's a difference between buying panic and euphoria....i would think

[15:44] {Threei}  they way today developed and ends, barring overnight news we should get gap up

[15:45] {magoo} yeah..but gap up is gonna be scary

[15:45] {magoo} themn tank?

[15:45] {cosmo} ...last 5 min is key

[15:45] {magoo} rimm got .89 btw

[15:45] {Threei}  nice

[15:45] {magoo} not me..but made it

[15:46] {vint} RIMM was nice one

[15:50] {Threei}  FAS answers confidently to that self-imposed question

[15:51] {Threei}  big gap, consolidation, break and crawl up all day

[15:51] {Threei}  every time market does this it amazes me

[15:52] {Threei}  so brilliantly counter-intuitive

[15:52] {cosmo} it'll learn

[15:53] {Threei}  7 FAS1 cent shy of

[15:53] {Threei}  ummm

[15:53] {Threei}  lol

[15:53] {Threei}  FAS 1 cent shy of 7

[15:55] {Threei}  very confident ending

[15:55] {Threei}  this is far from over

[15:55] {cosmo} the day is young

[15:55] {Chaeron} so 6600 was the bottom?

[15:55] {Threei}  so far

[15:55] {Threei}  who can tell these days a bottom from the bottom

[15:56] {magoo} my best day of year..up 96K

[15:56] {magoo} minus 93K

[15:56] {Threei}  now, what do you think about this

[15:56] {Threei}  [13:34] {Threei} BOA/MERRILL ANALYST SUGGESTS SELLING FINANCIAL STOCKS INTO STRENGTH (TIMING UNCERTAIN)

[15:56] {Threei}  [13:35] {Threei} forgive me for being cynic, but it rather sounds to me like "crap, looks like the bootom is in and we haven't loaded the truck full enough"

[15:57] {Threei}  you are up 96K today magoo?

[15:58] {magoo} yeah...minus 93k

[15:59] {magoo} he he

[15:59] {Threei}  that's complicatd

[15:59] {Threei}  my math abilities are not that advanced

[15:59] {Threei}  +500

[15:59] {magoo} mine either..dino helps me figure it out

[15:59] {Threei}  DJI

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all

[16:00] {Threei}  have a good evening, see you tomorrow

[16:00] {magoo} tomorrow gonna be harder

[16:00] {magoo} TY bass

[16:00] {vint} see u all