Apr 06 2009

Overall nice even so uneven day. some stops, some wins, including nice 50 cents move on RIMM. Closer to end of day we go the market rythm just right by reading the upcoming pattern of shakeout and spike. This pattern repeated itself a few time bringing plays on FAS, WFC, BAC and even such an unlikely candidate as F.

 

Session Time: Mon Apr 06 00:00:00 2009

[08:01] {nemo} GM

[08:13] {Threei}  Good morning sleepless

[08:14] {nemo} you too

[08:14] {Threei}  is there news I don't see on DNDN or people just lost their minds?

[08:14] {cosmo} JAVA too

[08:14] {Threei}  well, JAVA story is clear

[08:14] {Threei}  DNDN is all but

[08:15] {nemo} wishful thinking?

[08:15] {cosmo} JAVA heals?

[08:15] {Threei}  only if there is new suitor on horizon or if IBM indicates it's ready to return to the table

[08:16] {Threei}  04/05/09 05:27pm

[08:16] {Threei}  [JAVA] Sun Microsystems, Inc. Breaks off talks with IBM in recently speculated $7B acquisition - WSJ

[08:16] {Threei}  - Sun's Board has reportedly rejected IBM's offer of $9.40/per share as too low

[08:16] {Threei}  - Unclear whether talks could be reopened, said to be "on brink of collapse"

[08:16] {nemo} RIMM a bit weak 

[08:30] {Threei}  *(CA) CANADIAN FEB BUILDING PERMITS M/M: -15.9% V -4.0%E

[08:30] {Threei}  - Prior M/M revised from -4.6% to -6.0%

[08:30] {Threei}  wow

[08:30] {Threei}  die loonie

[08:30] {cosmo} weather?

[08:31] {larisa} good morning :)

[08:31] {Threei}  estimation takes weather into account

[08:31] {Threei}  larisa :)

[08:31] {larisa} vad, cosmo :)

[08:31] {cosmo} lars:)

[08:35] {larisa} wet snow here.. not much, but unpleasant :)

[08:36] {cosmo} i like snow

[08:36] {cosmo} ...sorry

[08:36] {larisa} lol

[08:38] {Raven} here too larisa ... most unpleasant

[08:38] {larisa} lets send it all to cosmo :)

[08:39] {Raven} I agree

[08:39] {cosmo} :)

[08:39] {cosmo} waiting

[08:39] {Raven} don't hold your breath :)

[08:39] {Threei}  Raven :)

[08:39] {Threei}  flowers in full bloom here

[08:40] {Threei}  and plum trees

[08:40] {Raven} ohforgod'ssake

[08:40] {Threei}  sorry

[08:40] {Threei}  actually... no, I am not

[08:40] {Raven} {------ looking for trout

[08:41] {Raven} actually, the crocus are blooming here ... the dumb ones anyway ...

[08:41] {Threei}  lol

[08:46] {Threei}  DNDN is typical hope stock

[08:46] {Threei}  aka widowmaker

[08:46] {cosmo} JAVA holds 6.50   ...it seems

[08:47] {Threei}  buyers are beting on FDA happy outcome

[08:47] {Threei}  FDA says no, this thing opens at 3 at best

[08:48] {nemo} RIMM could be a play today if the market goes south.  Big gap to close

[08:48] {nemo} Dino kinda' stock

[08:50] {Threei}  is there any over-weekend developments causing gap down?

[08:50] {Threei}  I don't really see any

[08:50] {Threei}  unless I missed them, and this is just a gap, chances are very high for recovery and hew highs

[08:50] {nemo} In RIMM, no?  but, there was such a jump a couple of days ago...plenty of room for profit taking

[08:51] {Threei}  no, I am talking about market

[08:51] {Threei}  RIMM is RIMM

[08:51] {Threei}  95% of the time it goes with market

[08:52] {Threei}  and that room for profit-taking is too obvious and too temntoign to offer real potential

[08:52] {Threei}  tempting

[08:52] {pita} gm everyone

[08:52] {Threei}  pita :)

[08:54] {cosmo} JAVA pre mkt high = 6.80 so far   fwiw

[08:58] {Threei}  04/06/09 07:59am

[08:58] {Threei}  Calyon Analyst Mike Mayo makes negative comments on US banking sector - recap

[08:58] {Threei}  - Banks are expected to continue facing fallout from the credit crunch, with loan losses across all structured asset classes to increase from 2.0% to 3.5% by end of 2010.

[08:58] {Threei}  Future pretax profits will suffer from further wrirtedowns.

[08:58] {Threei}  - US government help remains a wild card as it can both over regulate the industry and can have banks retain toxic assets on balance sheets.

[08:58] {Threei}  - Mark-to-mark accounting will bring only short term relief and does nothing to fundamentally change the situation.

[08:58] {Threei}  - Expects earnings to be below market consensus.

[08:59] {Threei}  00:31am IMF's Strauss-Kahn: Expects the recovery to start in US in the first half of 2010 - Le Figaro

[09:00] {dptl} good morning

[09:01] {Threei}  dp :)

[09:02] {patience} good morning RT   :)

[09:02] {Threei}  patience :)

[09:05] {fernp} Hello everybody

[09:06] {Threei}  fern :)

[09:07] {Threei}  (US) TREASURY EXTENDS APPLICATION DEADLINE FOR TOXIC ASSET PLAN BY TWO WEEKS, TO 4/24

[09:07] {Threei}  - New deadline for legacy security fund managers is 4/24, prelminiary decision to come 5/15

[09:07] {Threei}  - May open program to smaller fund managers following initial approvals.

[09:07] {Threei}  - Fund managers will be chosen on their ability to raise $500M in capital and their level of experience.

[09:07] {Threei}  - Initial fund managers will also need to have $10B in assets under management.

[09:07] {Threei}  - Notes that $25B in TARP funds will be used to expand TALF; $75B for legacy assets and securities will be divided based on market demand.

[09:07] {Threei}  - Legacy securities PPIP will initially include pre-2009, non-agency, non-commercial, residential MBS

[09:07] {Threei}  this sounds very bizarre to me

[09:10] {magoo} morning

[09:10] {Threei}  magoo :)

[09:11] {ese} morning

[09:11] {Threei}  ese :)

[09:13] {dino} gm all

[09:13] {ese} well.....what say ye .......up market ...or....dn market

[09:13] {Threei}  dino, welcome back

[09:13] {ese} dino

[09:14] {KSystems} dino :O)

[09:14] {dino} thx

[09:17] {dino} you make any $ while i was out ?

[09:18] {ese} indeed....best trading week i've ever had

[09:21] {dino} great to hear es

[09:21] {dino} you've been in the zone

[09:22] {ese} tks.....what were you up too/....golfing at Mertle beach

[09:22] {ese} I was last week for sure

[09:22] {elepet} good morning

[09:22] {Threei}  elepet :)

[09:22] {ese} ele

[09:23] {Threei}  DNDN is really crazy

[09:23] {nemo} Any strategy this morning? 3i

[09:23] {Threei}  waiting out first minutes

[09:24] {Threei}  want to get a feel for what mode we are into,

[09:24] {dino} golf and foreclosure mission

[09:24] {Threei}  retreat to encourage bears and shut the trap by rally resumtion

[09:24] {Threei}  or

[09:24] {Threei}  bump onto highs and fall

[09:24] {ese} ahhhh

[09:25] {Threei}  my personal feeling so far is it's the former

[09:25] {Threei}  but we will see

[09:26] {ese} vad can you have a look at JAVA 1 min chart.....thinking about a play if it breaks either side of the .50 to ,70 range

[09:26] {Threei}  makes sense chart wise, ese, but JAVA is also news play

[09:27] {ese} tks......

[09:27] {cosmo} ... which needs to hold 6.50  imo

[09:27] {Threei}  [08:16] {Threei} 04/05/09 05:27pm

[09:27] {Threei}  [08:16] {Threei} [JAVA] Sun Microsystems, Inc. Breaks off talks with IBM in recently speculated $7B acquisition - WSJ

[09:27] {Threei}  [08:16] {Threei} - Sun's Board has reportedly rejected IBM's offer of $9.40/per share as too low

[09:27] {Threei}  [08:16] {Threei} - Unclear whether talks could be reopened, said to be "on brink of collapse"

[09:27] {ese} tks

[09:28] {Threei}  to me, bias is on the short side

[09:28] {Threei}  unless new suitor appears

[09:28] {ese} rats...theres the breakout there...before opening

[09:28] {dino} think it was 4 area before bid

[09:29] {Threei}  yeah, just under 5

[09:31] {Threei} Long Setup:  WFC  .55 break if stays above .40

[09:31] {nemo} thats what I call sitting out a few minutes...sheehs

[09:31] {Threei}  invalidated, and becomes a bounce candidate

[09:32] {Threei}  it is, because this trigger wasn't likely to come around right away

[09:32] {Threei}  but I need to alert you in advance

[09:34] {Threei}  .30 break long if holding .20

[09:35] {dptl} in

[09:35] {Threei}  on the way back?

[09:36] {dptl} stopped

[09:36] {fernp} stopped

[09:37] {dino} lgcy?

[09:37] {magoo} LVS too

[09:38] {Threei}  LVS acts as salmon

[09:38] {dino} going private proposal, lgcy

[09:38] {Threei}  DNDN... sheesh

[09:38] {dino} 14/unit

[09:38] {magoo} DNDN

[09:38] {magoo} sorry

[09:39] {Threei}  (US) SEC'S SCHAPIRO: TO CONVEN ROUNDTABLE ON SHORT SELLING PROPOSALS

[09:40] {wulff} rimm

[09:40] {Threei}  scary one: DNDN .20 break if stays above 7

[09:40] {Threei}  for gamblers only

[09:41] {nemo} Rimm hitting resistance?

[09:42] {nemo} nope

[09:42] {dptl} in dndn .22

[09:43] {dino} amed

[09:43] {Threei}  half out DND above .40

[09:43] {Threei}  and hold second half

[09:43] {Threei}  for something like .60 - .70

[09:44] {Threei}  if you prefer scalp, you don't need my instructions

[09:45] {dptl} cat?

[09:46] {Threei}  no read on CAT

[09:46] {dptl} stopped dndn

[09:47] {Threei}  INVESTOR GEROGE SOROS: PRIMACY OF THE USD IS BEING QUESTIONED, SYSTEM MUST BE REFORMED SO US IS SUBJECT TO SAME DISCIPLINE AS OTHER COUNTRIES

[09:47] {dino} soros was short $ got killed

[09:48] {Threei}  sour grapes?

[09:48] {dino} he always does this when his trades go bad

[09:49] {Threei} Long Setup:  WFC  .40 break if stays above .30

[09:49] {Threei}  if loses it, watch for entry around .20

[09:50] {nemo} oops

[09:52] {Threei}  market still hasn't decided what it wants

[09:53] {Threei}  RIMM is the only thing that knows for sure

[09:54] {Threei}  [08:52] {Threei} that room for profit-taking is too obvious and too tempting to offer real potential

[09:54] {Threei}  earlier comment on RIMM

[09:56] {wulff} come on WFC

[09:58] {Threei}  ROCHDALE INITIATES BAC WITH BUY, PRICE TARGET: $14 (TIMING UNCERTAIN)

[09:58] {Threei}  - likely pre-open

[09:58] {Threei}  hmmm

[09:58] {Threei}  you first rochdale

[09:59] {Threei}  WFC 1:1

[09:59] {Threei}  half out or scalp

[09:59] {fernp} out TY

[09:59] {Threei}  GERN

[09:59] {wulff} took it

[09:59] {Threei}  HEARING STRENGTH BEING ATTRIBUTED TO CHATTER COMPANY MAY RECEIVE GOVT GRANT AND A POTENTIAL ROYALTY DEAL WITH PFE

[09:59] {Threei}  {PFE}

[09:59] {dptl} half out

[10:01] {dptl} where is stop for balance?

[10:01] {Threei}  under .40

[10:01] {dptl} ty

[10:03] {wulff} you see LVS

[10:03] {Threei}  yeah

[10:03] {Threei}  MGM too

[10:03] {wulff} oops for us

[10:04] {Threei}  WFC 1:2

[10:06] {Threei}  GERN has that look

[10:06] {nemo} RIMM looks like it's setting up for a short

[10:09] {dptl} out some more wfc

[10:10] {dptl} stop under .45?

[10:10] {Threei}  US TREASURY" PRINCIPAL RESCUE FUNDS WILL NOT BE PERMITTED TO PURCHASE TROUBLED ASSETS FROM AFFILIATED FIRMS; HEDGING STRATEIGES ALLOWED FOR PROTECTING AGAINST INTEREST RATE RISKS

[10:10] {Threei}  yes

[10:12] {wulff} sheesh RIMM

[10:13] {Threei}  yeah, RIMM is "play against obvious"

[10:13] {wulff} I am still swinging it

[10:17] {Threei}  UAUA unusual strength

[10:17] {wulff} LVS wont pull back

[10:18] {dptl} all out wfc

[10:19] {nemo} ow...look what happened to jnpr

[10:20] {Threei}  JNPR is bounce play here

[10:20] {Threei}  .20 break long if stays above .15

[10:22] {dino}  fwiw, watching trv, cb, amed, afam, idxx

[10:22] {dino} schw too

[10:22] {wulff} how was golf Dino?

[10:23] {dptl} still valid?jnpr?

[10:23] {dino} good time

[10:24] {Threei}  not unless goes through new consolidation

[10:24] {Threei}  a few moves between .15 and .20

[10:24] {dptl} ok ty

[10:26] {dino} schw l .75

[10:26] {dino} stop .63

[10:26] {Threei}  CSIQ

[10:26] {Threei}  WINS BID TO A RURAL ELECTRIFICATION PROJECT IN CHINA

[10:27] {Threei}  TOTAL ORDER SIZE AT 1.6MW

[10:27] {Threei}  - selected in a competitive bidding process to supply solar panels for 80,000 solar home systems for rural households in Sichuan province of China.

[10:27] {Threei}  - This project was initiated and financed by China''s Ministry of Agriculture and the Sichuan Provincial Government. The solar home systems are rated for a peak capacity of 20 Watts each. A system of this size can power two lights and a small TV. The delivery of the 80,000 units will be completed by April.

[10:27] {nemo} RIMM losing a little steam

[10:30] {ese} everything loosing a litle steam

[10:30] {nemo} me too

[10:31] {dino} hl s spy .83, stop .03

[10:33] {Threei}  XING... long time no see

[10:35] {wulff} jnpr bounce

[10:35] {Threei}  MOODY'S REPORT: EASTERN EUROPE WILL SEEL $140B IN DEBTS IN 2009; SOVERIGNS WILL NEED TO REFINANCE FURTHER DEBTS

[10:36] {Threei} Long Setup:  RIMM  .50 break

[10:36] {Threei}  if stays above .35

[10:37] {dptl} in

[10:39] {Threei}  (US) SEC: WILL BE REVIEWING 4 PROPOSALS REGARDING SHORT SELLING RULES

[10:39] {Threei}  2 cents shy of 1:1??

[10:39] {Threei}  come on

[10:39] {dino} cov spy .88, -.05 markets confusing

[10:39] {Threei}  - All open proposals to be reviewed April 8, 2009

[10:41] {Threei}  let's be stingy and trail RIMM to under .40

[10:41] {dino} cb l .44, stop .28

[10:42] {Threei}  BAC gets traction

[10:42] {Threei}  RIMM finally 1:1

[10:42] {dptl} out 2/3

[10:42] {Threei}  half out .70

[10:43] {Threei}  stop to .45

[10:43] {dino} axys

[10:43] {Threei}  out 1/4 more

[10:43] {Threei}  .90, +.43

[10:44] {Threei}  umm... +.37

[10:44] {wulff} good eyes

[10:44] {Threei}  my math abilities...

[10:44] {nemo} must have gone to harvard

[10:44] {dino} gj 3i

[10:44] {Threei}  ty

[10:45] {Threei}  tystop to under .80 last portion

[10:45] {dptl} all out .97 ty

[10:45] {Threei}  offering 62.05

[10:45] {Threei}  BAC

[10:45] {Threei}  pullback to .45 interesting for entry

[10:46] {Threei}  direct hit on RIMM

[10:47] {Threei}  out last part +.52

[10:48] {Threei} Long Setup:  FCFS  .25 break half lot

[10:49] {Threei}  stop under .10

[10:50] {ese} bstop AAPL .00

[10:51] {ese} change that ....get rid of the bystop

[10:51] {ese} gonna go long at .01 APPL

[10:52] {ese} the waqy that thing moves i'd get a crappy fill

[10:52] {Threei}  good-looking setup

[10:52] {ese} Long

[10:53] {nemo} what's your stop Ese?

[10:53] {ese} .80

[10:54] {ese} moves/jumps around like a wildabeast

[10:54] {nemo} or do you mean cudu, ese?

[10:54] {nemo} :)

[10:55] {nemo} go ahead, smack me ese

[10:55] {ese} OUT ..stopped .79.....

[10:56] {ese} piece  ahhhhhhh....^%$^#^%^

[10:56] {Threei}  .79?

[10:56] {ese} obviously the stop was too close

[10:56] {Threei}  I haven't seen any prints there

[10:57] {ese} showed .79 on mine vad so ipulled the trigger

[10:57] {Threei}  weird... bottomed out at .80

[10:57] {nemo} yeah, I see .80 on laser

[10:58] {ese} thats what i got filled at and 200shs at .81

[10:58] {Threei}  hate to say it but it looks like your broker is, ummm

[10:58] {ese} ya....i'm not really happly with these people

[10:59] {dino} schw stop to .87

[11:00] {magoo} vbad FCFS..u want to see the ,25 eaten up 

[11:00] {dino} out schw .89, +.14

[11:00] {ese} gonna give it another shot at .00 though....i think....Q's look to be botoming out

[11:00] {Threei}  that big offer must be taken

[11:00] {nemo} think it's real?

[11:01] {dino} or is it memorex

[11:01] {Threei}  you with your thinking thingy again... {G}

[11:01] {nemo} that's "live"

[11:01] {nemo} ah geez

[11:01] {Threei}  it is or it is not...

[11:02] {nemo} I was better off when I was following the other thingy around

[11:04] {nemo} remember the glass breaking commercial, Dino, ese

[11:05] {dino} cb stopped -.16

[11:06] {dino} waiting

[11:06] {dino} gaps around 7776, 1252, 811

[11:08] {magoo} is there news AAPL vad?

[11:08] {Threei}  nothing fresh

[11:09] {magoo} ok..just rotting with mkt

[11:09] {dino} cb rinse

[11:11] {Threei} Short Setup: CAT  .62 if stays under .70

[11:11] {dptl} in

[11:12] {Threei}  1:1, covering half

[11:13] {Threei}  stop to .66

[11:13] {Threei}  scalpers are scalpers

[11:15] {dptl} didnt get my .50.....may be now?

[11:16] {Threei}  hard to tell, matket shows some strength

[11:16] {Threei}  CAT stays inept though

[11:18] {dptl} stopped

[11:18] {magoo} u like RIMM for a bounce??

[11:22] {Threei}  not sure

[11:25] {magoo} i took .59

[11:26] {nemo} nice mags

[11:28] {dino} cb l .20

[11:30] {magoo} out .75

[11:31] {Threei}  wtg

[11:31] {magoo} may reload it

[11:31] {dino} axys sm l .85

[11:31] {magoo} prob going to 63 today

[11:34] {dptl} ah...cat cat cat....o well

[11:34] {dino} amed sm l .00

[11:34] {ese} L AAPL 

[11:34] {ese} .98

[11:35] {ese} stop will be .80 again

[11:38] {ese} MMMMAAAAAAGGGGGGGGSSSSS.....how in the H...do you trade this stock

[11:39] {ese} not stopped yet

[11:40] {dino} lol ese, thats my white whale

[11:41] {ese} great....now ya tell me

[11:42] {dino} amed stopped

[11:43] {ese} FHHHHHHHHHH.............no comment

[11:44] {nemo} How's it going quequag

[11:45] {ese} had enough of fat APPL for the day.........

[11:48] {magoo} i havent touched it today

[11:51] {dino} cb stopped done w/it

[11:54] {Threei} Short Setup: RIMM  .50 break if stays under .65

[11:56] {ese} I may never touch it again......

[11:56] {dptl} in rimm

[11:56] {nemo} in

[11:57] {magoo} in

[11:58] {Threei}  not a scalp to me

[11:58] {Threei}  there is a lot of air under this support

[11:58] {Threei}  stop is tight enough, want to try and squeeze a bit more out of it

[11:59] {Threei}  we got 50 cents out of RIMM on a long side

[11:59] {Threei}  don't see any reason not to try for comparable move on the short

[11:59] {dino} trv l .70

[12:01] {Threei}  market suddenly strengthened

[12:02] {magoo} out

[12:02] {magoo} .60

[12:02] {Threei}  market suddenly weakened

[12:05] {Threei}  market turned into water torture

[12:05] {nemo} waterboarding

[12:06] {Threei}  no worky RIMM

[12:06] {dptl} stopped rimm

[12:08] {dptl} gonna take a break...

[12:19] {Threei}  CITIGROUP: JAVA/IBM HAS BETTER ODDS OF GETTING DONE BECAUSE JAVA IS NOT LIKELY TO FIND ANOTHER BUYER - TIMING UNCERTAIN

[12:19] {Threei}  {IBM}

[12:19] {nemo} going for your title again Vad

[12:19] {Threei}  if they are not likely to find anothe suitor, why did they reject the offer

[12:20] {nemo} Yahooitis

[12:20] {Threei}  exactly

[12:20] {nemo} scary

[12:20] {Threei}  YHOO offer by MSFT was what, in 30s?

[12:20] {nemo} 33

[12:20] {Threei}  heh

[12:20] {nemo} think so

[12:23] {Threei}  wqatching FAZ for pullback into 17, for long entry

[12:25] {Threei}  MCO

[12:25] {Threei}  TICKS LOWER AFTER CONNECTICUT AG CONFIRMS PROBE INTO MAJOR RATINGS AGENCIES

[12:25] {Threei}  {MHP}

[12:25] {Threei}  poor Moody

[12:26] {Threei}  quite tempting to short

[12:26] {ese} Long FITB avg .10

[12:26] {Threei}  .50 closest resistance

[12:26] {Threei}  .43 current low

[12:26] {Threei}  8-10 cents stop

[12:26] {dptl} mco?

[12:27] {Threei}  yes

[12:28] {Threei}  if goes above .50, just ignore it, hard to tell how much of the news is priced in

[12:29] {dino} they are finally getting to this ratings garbage

[12:31] {dptl} Vad..still waiting for fcfs?

[12:32] {Threei}  funny but yes

[12:32] {dptl} consolidating .20-.25 now

[12:33] {Threei}  well, .20 is way to tight for this stock

[12:33] {magoo} RIMM animal

[12:33] {Threei}  no kidding

[12:34] {Threei}  can you think of better illustration of going against the obvious?

[12:34] {magoo} 63 easy today

[12:35] {nemo} 63.10 or thereabouts was the high on Friday

[12:38] {Threei}  grrr

[12:38] {Threei}  missed FAZ

[12:38] {Threei}  got distracted by going over other charts

[12:38] {Threei}  anyone got it near 17?

[12:41] {magoo} not ui

[12:41] {magoo} i

[12:42] {nemo} no volume to speak of today

[12:46] {Threei}  yes... and if stays trhis way, it's a rally continuation in the making

[12:47] {nemo} yep

[12:50] {dino}  trv stop to .82

[12:54] {magoo} rimm gonna do it'

[12:54] {magoo} in .60

[12:54] {dptl} missed it lol fcfs

[12:55] {dptl} waiting all morning and missed

[12:56] {dino} trv to .92

[12:56] {magoo} rimm exit .93 waiting

[12:57] {dino} out trv .95, +.25

[12:57] {magoo} out RIMM

[12:58] {magoo} ty vad

[12:58] {Threei}  sure thing

[12:58] {Threei}  lol

[13:00] {magoo} AAPL wants greenland

[13:00] {Threei}  (IA) IRANIAN PRES AHAMADINEJAD: PREPARED FOR CREATION OF A REGIONAL CURRENCY

[13:00] {Threei}  FED'S WARSH: PANIC IS ABATING'

[13:01] {Threei}  out FCFS

[13:01] {magoo} es gionna be mad..in aapl from .38

[13:01] {Threei}  .44 and .42

[13:01] {magoo} my first time

[13:02] {Threei}  we already know dp slept though its break... anyone got it?

[13:02] {dptl} out vmc+.25...... out cat +.22

[13:02] {Threei}  okay... you are vindicated :)

[13:02] {dptl} :)

[13:05] {ese} hey mags....god luck with it

[13:05] {dptl} l dndn.68

[13:05] {ese} i'm outa here for the day all...see ya tomorow....still long FITB

[13:05] {magoo} im waiting .87

[13:05] {Threei}  take care ese

[13:12] {dptl} out dndn +.14

[13:12] {Threei}  dp got his game back

[13:12] {dptl} positive now

[13:12] {magoo} kickin AAPL

[13:12] {magoo} ouch

[13:12] {Threei}  that's some kick

[13:12] {magoo} hurt myself

[13:15] {dptl} fcfs nice....waiving me back from up there..

[13:15] {magoo} vad..help kick it

[13:18] {magoo} vad.............assistance paalllllease

[13:18] {Threei}  I am trying mags

[13:18] {magoo} u using spiked boots?

[13:18] {Threei}  but I confused sides and kicked it in the front I suspect

[13:18] {Threei}  so gottaundo the damage first

[13:21] {magoo} ah..TY OUT

[13:21] {magoo} .85

[13:21] {Threei}  whew

[13:21] {magoo} was out there..never even saw it print but heard it

[13:22] {Threei}  because of original mistake I had to do double amount of kicking

[13:22] {magoo} was wonderin why it dropped

[13:22] {Threei}  sorry

[13:22] {Threei}  but they should wear some kind of brooch

[13:22] {Threei}  indicating the front

[13:38] {Threei}  US DEFENSE SEC GATES DISCLOSES DETAILS OF PENTAGON BUDGET PROPOSALS; INCREASING BUDGET $300B OVERALL

[13:38] {Threei}  - LMT's Presidential Helicopter program to be ended, F-22 program to be halted at 187 jets

[13:38] {Threei}  - Boeing's airborne laser to be limited to one test plane

[13:38] {Threei}  LMT dropped like a stone of that

06[13:45] * magoo slaps laserdave around a bit with a large trout

[13:46] {Threei}  why not

06[13:46] * Threei slaps laserdave around a bit with a large magoo

[13:47] {magoo} arte u calling me "large"?

[13:47] {Threei}  purely for the purpose of slapping

[13:49] {nemo} market's making a comeback

[13:53] {dptl} long dndn .86 

[13:53] {Threei}  XING

[13:53] {Threei}  AGREE TO PURCHASE FROM THE THREE NOTEHOLDERS ALL OF THE OUTSTANDING CONVERTIBLE NOTES OF QIAO XING MOBILE COMMUNICATION CO., LTD.

[13:53] {Threei}  XING is moving on that

[14:00] {Threei}  out of finnies, BAC looks stronger

[14:00] {Threei}  if they finally get game, this would be my choice

[14:02] {magoo} if they get going i like jpm

[14:02] {magoo} can be a mover

[14:02] {magoo} but not asnasty as GS

[14:12] {Threei}  don't know mags

[14:13] {Threei}  not the strongest one

[14:13] {magoo} WFC trying vad

[14:14] {Threei}  this one is holding better than your average finnie

[14:14] {Threei}  still, neds general upward thrust

[14:14] {Threei}  needs

[14:16] {dptl} stopped dndn -.08

[14:16] {Threei}  trying to determine my take on F

[14:17] {Threei}  chart wise 3.50 break was a long trigger

[14:17] {Threei}  considering how it's in the center of all the political/financial storms, wasn't so sure

[14:17] {Threei}  but it does hold nicely so far

[14:18] {Threei}  looks like the only game in town to remain trading among automakers

[14:18] {Threei}  so money pours in

[14:18] {magoo} WFC WFC

[14:20] {Threei}  ICE

[14:20] {Threei}  REACHES MILESTONE WITH CDS; CLEARS $70B IN NORTH AMERICAN CDS IN FIRST FOUR WEEKS

[14:20] {Threei}  - COO "The first month of CDS clearing operation represents an important milestone for the financial markets in reducing systemic risk, and was due in large part to efforts by the industry and regulators to increase confidence, transparency and standardization,"

[14:20] {Threei}  I don't get it

[14:21] {Threei}  how come this thing doesn't move on getting CDS business

[14:21] {Threei}  - ICE began clearing CDS index contracts on March 9 through ICE Trust

[14:21] {Threei}  - ICE Trust cleared 613 transactions totaling $71B of notional value, and resulting in $12.7B of open interest

[14:24] {magoo} vad..the question of the day

[14:24] {Threei}  up or sideways

[14:25] {Threei}  with 55/45 in favor of up

[14:26] {dino} doesn't make sense, obviously business has grown, thats 71 b they never had

[14:27] {Threei}  that's how I see it

[14:27] {Threei}  yes stock won't react

[14:27] {Threei}  yes = yet

[14:30] {Threei}  F... feels to me like this thing wants to close over 4

[14:32] {Threei}  mags

[14:33] {Threei}  if you want WFC, this pullback is it

[14:33] {Threei}  first sttrength from here, stop under .30 or .25

[14:34] {Threei}  for ultra-hard-core-scalpers, stop .39... but that's a rare breed

[14:34] {dino} schw l .80 stop lod

[14:35] {Threei}  I mean, thnouse whould have boguth 1 zillion shares and sold them at .44-.45 already {G}

[14:40] {Threei}  okay... if my feel for the end of day is right, market is about to start ramping up

[14:40] {Threei}  and if wrong then, accordingly, not

[14:41] {nemo} well if you're wrong, it'll either be flat from here or down

[14:41] {Threei}  feels to me like last shakeouts before reversing to the upward and leaving hesitant crowd in the dust

[14:42] {dptl} any candidates?

[14:42] {Threei}  WFC, as long as holding above .30

[14:42] {magoo} how about RIMM?

[14:43] {nemo} what .40?

[14:43] {Threei}  RIMM yes in general but can't find a setup on it

[14:43] {Threei}  closest support is .15 but it's not very reliable

[14:44] {Threei}  simply up with market or down with market kjind of thing

[14:44] {dptl} in wfc .41

[14:44] {Threei}  WFC, again if I am right, going to return to .50 and break it

[14:44] {magoo} right..but if mkts powerup..64 and nmear 65

[14:45] {cosmo} JAVA 6.66 test?

[14:45] {Threei}  JAVA

[14:45] {Threei}  - ICE began clearing CDS index contracts on March 9 through ICE Trust

[14:45] {Threei}  - ICE Trust cleared 613 transactions totaling $71B of notional value, and resulting in $12.7B of open interest

[14:45] {Threei}  hmm

[14:45] {Threei}  S&P PUT RATINGS ON ON CREDITWATCH DEVELOPING

[14:45] {Threei}  just out on JAVA

[14:45] {fernp} stop in WFC is still below .30?

[14:46] {Threei}  there are two support levels on WFC, .30 and .25

[14:46] {Threei}  both ar valid

[14:46] {fernp} ty

[14:46] {Threei}  F... unusual play... .90 break

[14:46] {Threei}  very much feels to me like wants to go over 4

[14:48] {dptl} in .91 f

[14:48] {Threei}  also, if market really starts inching toward the highs, GE is another candidate

[14:48] {dptl} stop under .80 f?

[14:48] {Threei}  yes

[14:48] {Threei}  hard to find setup on GE, too much digestion

[14:49] {Threei}  let's say .96 with stop under .90

[14:49] {Threei}  but may require a few tries

[14:49] {Threei}  see the market

[14:49] {Threei}  ?

[14:49] {Threei}  those sharp red bars were fakeouts

[14:50] {Threei}  scare last handful of fearful, and depart leaving them on the station

[14:50] {Threei}  WFC nears .50

[14:51] {Threei}  F high .98 so far

[14:51] {Threei}  will gnaw on it and will chew through it, IMO

[14:51] {Threei}  GE over 11

[14:52] {Threei}  market spike

[14:52] {Threei}  am I good or what

[14:52] {Threei}  modest too

[14:52] {Threei}  WFC .50 be taken

[14:53] {Threei}  maybe with one more pullback, but it will take it

[14:53] {Threei}  GE went nice over 1:1

[14:54] {dino}  good read vadster

[14:54] {Threei}  ty

[14:54] {Threei}  RIMM moved nicely

[14:54] {Threei}  I bet mags grabbed that one

[14:55] {dino} yes

[14:55] {Threei}  really?

[14:55] {Threei}  how did I know :)

[14:56] {Threei}  F

[14:56] {Threei}  new high

[14:56] {magoo} :)

06[14:56] * Threei slaps magoo around a bit with a large chart of uptrending market

[14:56] {magoo} i think 65 today

06[14:57] * Threei slaps dptl around a bit with a large troika of winning calls in a row

[14:57] {Threei}  next spike is coming

[14:57] {Threei}  ugh.... ese would appreciate F call with 10K lot

[14:58] {Threei}  he would have made hiw $1,000 on this one

[14:58] {dptl} can't get m6y 4

[14:59] {nemo} tell wfc to give up 1:1

[14:59] {nemo} thank you

[14:59] {Threei}  it just did

[15:00] {nemo} ge on pullback vad

[15:01] {Threei}  closer .95

[15:01] {Threei}  hesitant here

[15:02] {dino} out gxdx .,93 +.13

[15:03] {dptl} i scrud up wfc....0

[15:03] {dptl} stil in ford

[15:05] {dptl} my god....why am i doing this...........out flat ford

06[15:05] * dptl slaps dptl around a bit with a large trout

[15:05] {nemo} you like pain?

06[15:06] * larisa slaps nemo around a bit with a large trout

[15:06] {dptl} down again ....

[15:06] {Threei}  come on...

[15:07] {Threei}  3 calls, ones to 1:2 almost, one to 1:1, one to almost 1:1

[15:07] {Threei}  and even now as we speak all three are above entry points

[15:07] {Threei}  how do you lose on that??

[15:07] {Threei}  nice ambush larisa

06[15:08] * nemo tickles larisa with a large feather

[15:08] {larisa} just protecting dp a little

[15:08] {larisa} wow

[15:08] {nemo} you hurt my feelings.

[15:08] {larisa} lol

[15:09] {dino} man that ice drops like pulp

[15:10] {dino} hang in there dp, don't overstay or overthink

06[15:11] * nemo was only asking dptl a question LARISA!

[15:13] {Threei}  anyone understands that XING news?

[15:13] {Threei}  if it's really significant, then by chart it's ready for re-entry

[15:13] {Threei}  [13:53] {Alert} Threei XING

[15:13] {Threei}  [13:53] {Alert} Threei AGREE TO PURCHASE FROM THE THREE NOTEHOLDERS ALL OF THE OUTSTANDING CONVERTIBLE NOTES OF QIAO XING MOBILE COMMUNICATION CO., LTD.

[15:14] {Threei}  - Signed agreement to purchase from the three noteholders (DKR SoundShore Oasis Holding Fund Ltd, CEDAR DKR Holding Fund Ltd and Chestnut Fund Ltd) $30M of the outstanding convertible notes in principal of Qiao Xing Mobile Communication Co., Ltd ("Qiao Xing Mobile") for an aggregate purchase price of $24M

[15:14] {nemo} FAS coming into support

[15:14] {Threei}  WFC too

[15:15] {nemo} bounce play on either?

[15:15] {Threei}  on all of them, if market reverses

[15:15] {Threei}  F too

[15:16] {Threei}  GE is one of the stronger

[15:16] {dino} amed l .21

[15:17] {magoo} what a BLITZ in mkts

[15:17] {nemo} left me behind

[15:17] {Threei}  all pullbacks are shakeouts

[15:17] {Threei}  anyone got any of those?

[15:17] {fernp} no here

[15:18] {dawg} got WFC ty Vad

[15:18] {Threei}  WFC and FAS were the most spectacular

[15:18] {Threei}  dawg :)

[15:18] {dawg} Yes

[15:19] {Threei}  MEREDITH WHITNEY: NOT BULLISH ON FINANCIALS; REITERATES WOULD TAKE SOME BANK SHORTS OFF TABLE AHEAD OF EARNINGS - CNBC

[15:19] {nemo} is that what did it?

[15:19] {Threei}  not sure

[15:21] {Threei}  http://finance.yahoo.com/techticker/article/225897/Geithner's-Stress-Test-

[15:23] {Threei}  one more pullback and next spike is coming

[15:25] {Threei}  MEREDITH WHITNEY: NOT BULLISH ON FINANCIALS; REITERATES WOULD TAKE SOME BANK SHORTS OFF TABLE AHEAD OF EARNINGS - CNBC

[15:25] {Threei}  - sees bank issues languishing into 2010, banks may make money in Q1

[15:25] {Threei}  - Forecasting Peak to trough housing price decline of 50% (40% prior forecast); sees the recent 'recovery' in housing as the 'head fakes of all head fakes

[15:25] {Threei}  STT??

[15:28] {Threei}  JAVA

[15:28] {Threei}  REPORTEDLY COMMITTED TO GROWTH STRATEGY; LEADERSHIP STAFF

[15:28] {Threei}  uhhu

[15:29] {Threei}  "we screwed up, what else can we do now but yap about our grows strategy"

[15:29] {magoo} RIMM 

[15:30] {magoo} out RIMM .96

[15:30] {magoo} :)ty boss

[15:31] {Threei}  hmmm

[15:31] {Threei}  okay... welcome

[15:31] {magoo} 65 comith

[15:31] {magoo} back in .64

[15:31] {magoo} out .24 lol

[15:32] {Threei}  this is quite the way for the market to shake out

[15:33] {Threei}  look how often it did it today

[15:33] {Threei}  gut-wrenching pullback, then sudden spike

[15:33] {dptl} out dndn+.10 +.17......

[15:33] {magoo} nice read on market shake and bake vad

[15:35] {Threei}  HIG

[15:35] {Threei}  one more strng candidate

[15:35] {Threei}  most likely for tomorrow

[15:37] {dptl} have a good evening all.....

[15:37] {nemo} Things slowing?

[15:37] {larisa} bye dp

[15:37] {Threei}  take care dp

[15:37] {dino} gj dp

[15:38] {Threei}  not necessary slowing, but become less readable

[15:38] {nemo} WFC didn't want to broach .50 in any meaningful way

[15:38] {Threei}  end of day is likely to be

[15:38] {Threei}  nervous

[15:38] {nemo} then I'm in tune with the market

[15:38] {Threei}  preotect ya tings, as they say in the Bahamas

[15:38] {nemo} is there a market condom?

[15:38] {nemo} whoa!

[15:39] {nemo} wfc lost it's tings

[15:39] {nemo} bounce on this

[15:42] {cosmo} LGCY 13 test

[15:42] {cosmo} wall

[15:43] {Threei}  PALM looks impressive, I have to say

[15:44] {Threei}  with any market/RIMM help, thing is aiming for 10

[15:44] {Threei}  ting

[15:44] {dino} out schw .92, +.12

[15:50] {Threei}  so far, read was correct: sideways to upside

[15:50] {magoo} yes..and very helpful TY'

[15:51] {Threei}  you are welcome

[15:51] {Threei}  {--- is unusually and uncharacteristrically polite

[15:51] {magoo} i can trade those remarks

[15:51] {magoo} and do

[15:51] {Threei}  I know

[15:51] {Threei}  tyou manage to derive something out of them

[15:51] {Threei}  comes with experience

[15:52] {magoo} thats why i ask everyday

[15:52] {dino} vad singing hendricks' are you experienced

[15:52] {magoo} not to bother u..u seem to have very good read on these things

[15:53] {magoo} arca down

[15:53] {Threei}  closes at high

[15:54] {Threei}  PALM

[15:55] {magoo} bats down..arca down

[15:55] {Threei}  hmm?

[15:56] {nemo} bad weather in the NE

[15:56] {magoo} exchanges 

[15:58] {Threei}  nice close and nice volume increase into upward march

[15:58] {Threei}  looking forward for tomorrow's resumption

[15:58] {dino} axys out .96, +.19 all day

[15:59] {Threei}  better than p[oke in the eye

[15:59] {Threei}  okay guys, thank you all

[15:59] {larisa} later all :)

[15:59] {Threei}  have a good evening, see you tomorrow

Apr 03 2009

Somewhat strange day. Most stocks acted against normal patterns and brought nothing but stops, while momentum mover DNDN obeyed like clockwork - all calls on it were right on target, both long and short.

Session Time: Fri Apr 03 00:00:00 2009

[08:15] {Threei}  BALTIC DRY BULK INDEX -2.1% (18TH STRAIGHT DECLINE)

[08:16] {nemo} RIMM keeps going

[08:23] {Threei}  keeping an eye on LVS

[08:27] {magoo} moprning

[08:27] {nemo} morn mags

[08:28] {Threei}  magoo :)

[08:30] {Threei}  MAR UNEMPLOYMENT RATE: 8.5% V 8.5%E

[08:30] {nemo} coincided wit FAS popping

[08:30] {Threei}  *MAR CHANGE IN NONFARM PAYROLL: -663K V -660KE; CHANGE IN MANUFACTURING PAYROLLS: -161K V -162KE

[08:30] {Threei}  *MAR AVERAGE HOURLY EARNINGS M/M: 0.2% V 0.2%E; AVERAGE WEEKLY EARNINGS: 33.2 V 33.3E

[08:32] {magoo} in line..they street was expecting worse

[08:36] {cosmo} always

[08:36] {nemo} RIMM just keeps going

[08:38] {patience} good morning RT, it is only Wednesday for those who went to the Bahamas, 2 more days of work for them

[08:40] {Threei}  Good morning, lol

[08:41] {cosmo} GILD: # Gilead says blood pressure drug met trial goalsAP(Fri 7:15am)

[08:41] {magoo} vad..easy ? here...wheres support to go long RIMM?

[08:41] {Threei}  lol

[08:41] {Threei}  at 35

[08:41] {magoo} TY :)

[08:41] {Threei}  sure :)

[08:44] {vinod} GM to all:)

[08:44] {nemo} you buyin' GM vinod?

[08:44] {pita} gm everyone

[08:45] {cosmo} we all own GM

[08:45] {Threei}  vinod, pita :)

[08:45] {nemo} another one  :)

[08:45] {vinod} Nothng buying but have 500 SRS from yesterday at 46.00

[08:48] {vinod} when you have some time lke your opinion about GLW-vad have 4000 in my IRA at $2..00 brought long ago

[08:50] {Threei}  at 2?

[08:51] {Threei}  I don't see it being at 2 ever

[08:51] {vinod} yes. my wife used to work there low was at 1.00

[08:51] {Threei}  wow

[08:51] {vinod} she got laid off in 2001

[08:51] {Threei}  I see

[08:51] {Threei}  well, this is way too long term for me... sorry, I don't have much to say about it

[08:52] {Threei}  I'd be out in, umm... 2005? :)

[08:52] {vinod} i have many stock in my IRA since 2000

[08:53] {vinod} will discuss later on off line

[08:54] {Threei}  honestly, this kind of investements is not my cup of tea...

[08:55] {magoo} vad..wheres RIMM short?

[08:55] {magoo} seriously?

[08:55] {magoo} will it give back 5 points?

[08:56] {Threei}  shrug

[08:59] {cosmo} HOLX?

[09:00] {Threei}  no fresh news

[09:00] {cosmo} k

[09:01] {cosmo} hmmm

[09:06] {larisa} good morning :)

[09:06] {Threei}  larisa :)

[09:06] {larisa} threei :)

[09:08] {Threei}  (US) FED'S KOHN: "WE'RE NOT OUT OF THE WOODS YET," BELIEVES FED MAY NEED TO DO MORE TO INCREASE THE FLOW OF CREDIT

[09:08] {Threei}  - The US economy is very weak, will likely remain that way "for a while."

[09:08] {Threei}  - Sees a risk of rising real fed funds rate, deflationary spiral

[09:08] {Threei}  - There is "incredibly large" unused capacity in the US economy.

[09:10] {fernp} Hello everybody

[09:10] {Threei}  fern :)

[09:16] {ese} morning

[09:16] {Threei}  ese :)

[09:16] {ese} morning vad

[09:17] {ese} any sense of the mrket yet....up, dn ?

[09:17] {Threei}  not really

[09:17] {Threei}  was up slightly, now down slightly

[09:21] {nemo} jnpr hanging their from yesterday, could be a short candidate

[09:23] {ese} have been re reading "how to scalp any market"...have a question for you....a couple of the scalp examples were for 3000 buy at .50 sell .54 etc...do you prefer those round numbers .50 and .00...because institutions focus on them

[09:24] {ese} they tend to provide significant resistant points

[09:24] {Threei}  well, most of support/resistance levels to break and trigger the trade happen to be around those

[09:24] {ese} so they are most likely to breakout a little harder?

[09:24] {Threei}  it's not often that we see alerts like "12.23 break long"... ratjer 12.20 or 12.25

[09:25] {ese} yes

[09:25] {Threei}  stocks naturally tend to foop or bottom out at those nombers rather than at .03 or .07

[09:25] {Threei}  to top

[09:26] {ese} institutional thing??

[09:26] {Threei}  nah

[09:26] {Threei}  just the weay we think

[09:26] {Threei}  way

[09:26] {Threei}  we don't assign targets for our exits at 25.63

[09:27] {Threei}  25.50 - we do

[09:27] {ese} yes

[09:27] {Threei}  so those supports and resistances get formed where we decide to exit or enter

[09:28] {dptl} good morning all

[09:28] {Threei}  dp :)

[09:29] {ese} have had the best trading 2 weeks of my life thanks to that book....have just had the courage to go with 2000/3000 shs lots and it really is safer

[09:29] {Threei}  I am really happy to hear that

[09:30] {ese} although...I cannot tell a lie i've been swing trading FITB

[09:30] {i2romantis} yes we saw that, and FITB worked out well this week

[09:30] {i2romantis} which book are you referring to, ese?

[09:32] {magoo} good dump RIMM vad

[09:32] {Threei}  [09:23] {ese} have been re reading "how to scalp any market"..

[09:32] {Threei}  need it to form something, mags

[09:32] {ese} "How To Scalp any Market ^ Profit Consistently"...vads book

[09:32] {Threei}  it's too removed from all normal points of reference

[09:33] {Threei}  without it forming new ones, it's just a crapshoot

[09:34] {ese} looking for EBAY on pullback

[09:34] {Threei} Long Setup:  FAZ  .10 break if stays above 17.95

[09:35] {Threei}  invalidated

[09:35] {Threei}  LVS... waiting for pullback and not getting it

[09:37] {i2romantis} nice DRYS move

[09:37] {ese} same with Ebay

[09:37] {ese} opps now getting it

[09:38] {Threei} Long Setup:  JNPR  17 break

[09:38] {Threei}  fro scalpers stop under .90, for day traders under .80

[09:38] {ese} Long ebay .31

[09:38] {magoo} in

[09:39] {ese} out ebay .43 +.12

[09:39] {larisa} whats with PLD

[09:39] {Threei}  no news

[09:40] {Threei}  US) WHITE HOUSE'S ROMER: THERE IS NO QUESTION THE ECONOMY IS STILL SICK, STRONG ACTION STILL NEEDED

[09:40] {Threei}  - Obama Administration policies are just starting to work, fiscal policy has a three to six month lag.

[09:40] {Threei}  US DEPT OF LABOR'S SOLIS: UNCLEAR WHEN US WILL SEE A 'TANGIBLE' IMPROVEMENT IN JOBS - CNBC

[09:40] {Threei}  hmm?

[09:41] {Threei}  starting to work - may not see improvement in jobs?

[09:41] {Threei}  I am yet to understand how that reconciles

[09:41] {cosmo} ...wit productivity

[09:41] {cosmo} with

[09:42] {dptl} in jnpr .00

[09:43] {nemo} in 

[09:44] {Threei}  RIMM

[09:44] {Threei}  pullback into .40 - .50 zone for long entry

[09:44] {Threei}  fast fingers only

[09:44] {nemo} not me then

[09:45] {magoo} pre mkt highs 63 area

[09:46] {Threei}  if you caught it, start exiting here

[09:46] {magoo} in

[09:50] {ese} L AMAT pullback .60

[09:51] {nemo} jnpr holding in nas weakness

[09:51] {Threei}  salmon

[09:51] {nemo} strong current though

[09:55] {Threei}  CBST

[09:55] {Threei}  no news...

[09:59] {Threei}  CBST drop into .40 - .50 for entry, half lot

[10:00] {Threei}  MAR ISM NON-MANUFACTURING COMPOSITE: 40.8 V 42.0E

[10:00] {dptl} stopped jnpr

[10:00] {Threei}  yeah, lost will to live

[10:01] {nemo} stopped

[10:02] {Threei}  CEDC, pullback into 14 for long entry

[10:03] {ese} out AMAT -.50 -.10

[10:04] {Threei}  nice juicy offer at .10

[10:04] {Threei}  gives us an idea for entry

[10:06] {dptl} where would be stop for cedc?

[10:07] {Threei}  under what it forms as support on this pullback

[10:07] {Threei}  LVS

[10:07] {Threei}  .66 long

[10:07] {Threei}  if holding above .55

[10:08] {nemo} cbst setting up a short vad?

[10:08] {Threei}  not suree

[10:08] {Threei}  I'd prefer long

[10:08] {nemo} big jump yesterday 

[10:09] {Threei}  everything did big jump yesterday...

[10:09] {nemo} yeah

[10:09] {Threei}  unless you set to short market today, hat's npt the reason to short any given stock :)

[10:10] {nemo} no I'm looking at the chart on LASER

[10:13] {Threei}  LVS setup changes

[10:13] {Threei}  .56 if holding above .50

[10:14] {nemo} in lvs

[10:16] {dptl} in.58

[10:17] {Threei}  not much enthusiasm...

[10:18] {Threei}  come on LVS, enough games

[10:23] {Threei}  no worky

[10:23] {dptl} stopped

[10:25] {fernp} long BAC if break .33, Vad?

[10:26] {Threei}  not sure...

[10:26] {Threei}  way too narrow today

[10:26] {Threei}  would require serious market move to give anything worthy

[10:26] {Threei}  and things fdon't seem too hot today so far

[10:26] {Threei}  ratjer like market taking a breather

[10:27] {fernp} ok thanks

[10:27] {Threei} Long Setup:  RIMM  59 break

[10:27] {Threei}  if holding above 58.80

[10:28] {dptl} in

[10:28] {magoo} in

[10:30] {nemo} in

[10:32] {dptl} ahhhh...stopped

[10:32] {nemo} stopped

[10:32] {Threei}  sidways action... not much works so far

[10:35] {nemo} jnpr building a range if we ever see strength

[10:37] {dptl} gild? short?

[10:38] {Threei}  on .50 break?

[10:38] {Threei}  could be

[10:38] {dptl} ye

[10:40] {ese} maybe   I should tell you I'm swing trading again......I know I know...it's blasphemy  but I'm Long FITB at .97...10000shs

[10:44] {ese} out .09  fitb

[10:44] {Threei}  wtg

[10:44] {ese} +.12

[10:44] {ese} tks

[10:44] {Threei}  not sure why you call it swing trading... sounds like typical scalp type I to me

[10:45] {Threei}  GILD over 1:1

[10:45] {dptl} so fast didn't get it

[10:45] {ese} bought it at the open.......holding it too long...

[10:45] {dptl} try on pulol back may be?

[10:46] {Threei}  if bounces into resistance, sure

[10:49] {dptl} ok in .48

[10:50] {dptl} stop over .60?

[10:50] {Threei}  yeah

[10:50] {dptl} ok ty

[10:53] {Threei}  sigh

[10:53] {dptl} stopped

[10:53] {Threei}  no rythm to anything

[11:01] {magoo} anyone think mkts can go green today?

[11:01] {wulff} long RIMM .90

[11:01] {Threei}  I think they will mags

[11:01] {magoo} hmmmmmm..today?

[11:02] {Threei}  yup

[11:02] {wulff} too many anxious shorts still

[11:02] {magoo} whos more nervous to hold over weekend...bulls or bears?

[11:03] {Threei}  bears, IMO

[11:03] {nemo} bears

[11:03] {wulff} I am bull and I am nervous

[11:12] {Threei}  FAZ formed 18 - 18.20 range

[11:14] {ese} L 

[11:15] {ese} FITB .04

[11:15] {ese} 10000 shs

[11:15] {Threei}  nice

[11:15] {Threei}  ese turns ionto hardcore scalper

[11:15] {Threei}  what a transformation

[11:16] {ese} don't know about that......real tight stop though....   .02

[11:18] {dptl} cedc at .40 long??

[11:18] {Threei}  wow

[11:19] {Threei}  weren't we hunting for it between 14 and 14.10?

[11:19] {dptl} yeh 

[11:19] {Threei}  this is exit area

[11:19] {Threei}  not entry

[11:20] {dptl} crm?

[11:21] {Threei}  chart's right

[11:21] {Threei}  day is not very conducive to breakouts

[11:21] {Threei}  can't tell really

[11:21] {dptl} i see

[11:22] {dptl} i think i just trying to get all loses back as soos as posible

[11:23] {Threei}  don't push

[11:23] {Threei}  look at NQ

[11:23] {Threei}  or DJI

[11:23] {Threei}  do you see any pattern right now?

[11:23] {nemo} yeah, the patient is dead

[11:23] {Threei}  FAZ tightened range to .10 .20

[11:24] {Threei}  feels like .20 break should be tradeable

[11:24] {ese} back in about 15 min

[11:24] {Threei}  stop under .10

[11:24] {dptl} in

[11:28] {dptl} stopped

[11:29] {wulff} you said yesterday "pullback is coming in lower volume"

[11:29] {wulff} Where do you check that?

[11:30] {Threei}  in what?

[11:30] {nemo} RIM in a pretty consistent range so far

[11:30] {wulff} qqqq?

[11:30] {nemo} RIMM

[11:30] {wulff} Market...

[11:30] {Threei}  NQ... QQQQ...

[11:33] {Threei}  anyone played CEDC?

[11:33] {magoo} forgot about it

[11:33] {fernp} no here

[11:34] {nemo} nope

[11:38] {Threei}  FISV

[11:38] {Threei}  REPORTEDLY SEVERAL HUNDRED CLIENTS ARE SEEKING UP TO $1.0B FOR LOSSES DUE TO THE MADOFF SCANDAL

[11:38] {Threei}  was FISV one of feeder funds?

[11:41] {wulff} Rimm consolidating

[11:42] {Threei}  (US) PRESIDENT OBAMA: IF NATO BECOMES EVERYTHING, THAN IT IS NOTHING

[11:42] {Threei}  very Zen

[11:47] {nemo} so, does rimm go through 59 again, or just a tease?

[11:47] {wulff} my powers of tea leaves say a tease

[11:47] {nemo} so far so good wulffy

[11:48] {Threei}  NQ went green

[11:52] {Threei}  wow PALM

[11:52] {Threei}  elepet, you still have it?

[11:55] {ese} Back....and out FITB .16 +.12

[11:55] {Threei}  wtg

[11:56] {ese} tks

[11:56] {Threei}  made your monthly salary from the day job today eh?

[11:57] {ese} 1/2 of it.......thank you vad

[11:57] {Threei}  :)

[11:58] {ese} I'm buying the vodka next time!

[11:58] {magoo} vad..u watching STT?

[11:58] {Threei}  looked aqt it couple times

[11:58] {Threei}  don't like it at all

[11:59] {magoo} oh..i was thinking bouncer

[12:01] {Threei}  HIG is climbing

[12:01] {Threei}  FED CHAIR BERNANKE: PROGRAMS DESIGNED TO BE UNWOUND; CLOSELY MONITORING BANKS LEVELS RESERVES; TALF ELIGIBLE SECURITIES LIKELY TO EXPAND

[12:01] {Threei}  PLD is too

[12:01] {Threei}  no clean setups on any

[12:02] {Threei}  FED'S KOHN: THE FED WOULD LIKE TO HAVE THE OPTION TO ISSUE ITS OWN BILLS

[12:02] {Threei}  huh?

[12:02] {nemo} Paper trading or Legal tender

[12:03] {nemo} Must be debt

[12:06] {Threei}  pullbacks on PLD into .30 and on HIG into .25 would be interesting

[12:10] {Threei}  PLD says yeah right

[12:11] {nemo} watching FAZ for bottom?

[12:11] {nemo} RIMM S 59 break?

[12:11] {nemo} double bottom on Faz

[12:11] {Threei}  FAZ no

[12:12] {Threei}  market feels to me like mostly climbing

[12:13] {Threei}  HIG pulled back to .27

[12:13] {Threei}  a bit too fast for confident entry

[12:23] {Threei}  12:21pm [DNDN] Ticking higher, hearing strength attributed to scheduling of talk on Provenge results at conference

[12:25] {dptl} pld?

[12:26] {Threei}  canb't find any setups to read

[12:26] {Threei}  general direction is more or less readable, entries aren't

[12:31] {magoo} aapl read here vad?

[12:31] {Threei}  wow DNDN

[12:31] {magoo} if mkts go up i like it

[12:32] {Threei}  you said it

[12:32] {Threei}  what can I add

[12:33] {Threei}  I'll be darned, DNDN looks like going to 6

[12:34] {Threei}  ese... any new entry on FITB coming?

[12:35] {ese} hi vad........not sure.....wasn't watching...was doing up a math exam for one of my classes this afternoon

[12:36] {Threei}  DNDN... any questions? lol

[12:36] {Threei}  anyone just went for it?

[12:36] {ese} sold NVDA today as well  for $3000 ...you may remember that I bought that back in October.....

[12:37] {dptl} cat?

[12:37] {Threei}  yes, remember NVDA

[12:37] {ese} been a $5000 and a bit day

[12:37] {Threei}  6 on the nose DNDN

[12:37] {Threei}  and above

[12:37] {nemo} going for 7 or 8?

[12:37] {Threei}  don't know... 6 was very clear

[12:38] {dptl} cat?

[12:38] {Threei}  it just goes iwht market dp

[12:38] {dptl} ok ty

[12:40] {Threei}  strong pullback DNDN

[12:41] {ese} Vad.....I like to enter FITB after those long consolidations you make note of in the scalping book...ie from 11:00am to 11:34

[12:42] {ese} this morning

[12:42] {ese} sorry market time not victoria time

[12:50] {Threei}  these sudden spikes on FITB after pullbacks indicate that it's far from over, IMO

[12:51] {Threei}  DNDN stabilized

[12:51] {magoo} where u likeentry long?

[12:51] {Threei}  I'd say 5.60 break if holding 5.50

[12:51] {magoo} i meant FITB

[12:52] {Threei}  don't know on FITB

[12:53] {Threei}  but DNDN is over 1:1

[12:53] {Threei}  1:2 I mean

[12:55] {Threei}  I mean 1:3

[12:58] {Threei}  if I say "I mean 1:4", any furniture will be thrown at me?

[12:58] {nemo} too far away....

[12:58] {nemo} I'll send you a virus laden jpg

[12:58] {Threei}  anyone took it?

[12:59] {ese} can you actually put a virus in a jpeg?

[12:59] {nemo} Magoo Ill bet

[12:59] {nemo} yes ese

[12:59] {nemo} when you click on a jpg to view it, you're actually executing a program

[13:11] {magoo} vad..any read skf down here?

[13:14] {Threei}  nah

[13:22] {vint} good afternoon all, looks like I missed some fun

[13:23] {Threei}  not really vint

[13:23] {Threei}  tough to read day

[13:23] {nemo} basically a "flossing with barbed wire" morning

[13:23] {vint} so it is one of those Fridays..i guess

[13:24] {Threei}  yes, unless you caught those couple nice winners that were all but easy to catch

[13:26] {Threei}  hmmm... I thought DNDN was done

[13:27] {ese} signing off....have a great weekend all....

[13:27] {Threei}  take care ese, great job today

[13:28] {magoo} RIMM vad??

[13:29] {Threei}  no idea

[13:30] {magoo} GS??

[13:31] {Threei}  SEC: EVALUATING TWO OPTIONS SIMILAR TO THAT OF THE UPTICK RULE; WILL VOTE ON PROVISIONS ON APRIL 8

[13:31] {Threei}  - Also considering options on retricting short sales

[13:31] {Threei}  mags, what are you doing?

[13:32] {Threei}  you really want me to start calling them all left and righta?

[13:32] {magoo} just want u take a look at them

[13:32] {magoo} give opinion

[13:32] {larisa} vad???

[13:33] {Threei}  how about this:

[13:33] {Threei}  I'll see you all on Monday

[13:33] {magoo} i think RIMM takes 60

[13:33] {larisa} just wanted to make you nervous with all these question marks :)

[13:33] {Threei}  that's what they do

[13:33] {larisa} exactly

[13:33] {larisa} need to use them carefuly, both ?? and !!

[13:35] {Threei}  trades either come to us or not. Last thing you need is to pressure me into calling what is not there

[13:36] {vint} I agree ..I had forced trade ahter hrs on RIMM..and burnt my fingers dearly

[13:36] {vint} yesterday

[13:36] {Threei}  short?

[13:36] {vint} yep

[13:37] {Threei}  ouch

[13:37] {vint} was too eager to jump on

[13:37] {vint} big lesson learned

[13:37] {nemo} Hey Vad, just asking for education, I see a short on RIMM if it falls below .80 but long if it goes over 60

[13:37] {Threei}  arbitrary picking tops or bottoms...

[13:37] {magoo} i had i long after hours 51 cut 54..but way early

[13:38] {Threei}  looks right to me, nemo - providing market supports at the moment

[13:38] {nemo} yes, thanks, 

[13:39] {Threei}  DNDN formed same setup once again

[13:39] {Threei}  5.50 - 5.60

[13:40] {nemo} that would be 3 times to the well

[13:40] {dptl} in dndn .63

[13:40] {Threei}  it hit 1:1 while you were typing that, nemo {G}

[13:41] {nemo} well, today is officially my fault

[13:42] {nemo} just got rejected short selling rimm, huh

[13:42] {nemo} wrong routing

[13:43] {Threei}  ?

[13:43] {Threei}  how did you route it??

[13:43] {nemo} tried GETCO...bad idea

[13:45] {Threei}  DNDN over 1:1

[13:46] {nemo} GILD moving too

[13:46] {Threei}  this is third call on DNDN, all winners

[13:47] {Threei}  granted, first one was tough

[13:47] {Threei}  pure intuitive, no technical criteria

[13:47] {nemo} yeah, you didn't actually call that

[13:47] {Threei}  but second and third were clean

[13:47] {nemo} You said, I think, "Did anyone...."

[13:47] {nemo} can't argue with the second 2 also, if it clears .80 back in volume supported of course

[13:48] {Threei}  don't think... copy/paste:

[13:48] {Threei}  [12:33] {Threei} I'll be darned, DNDN looks like going to 6

[13:48] {dptl} out .74 ..ty

[13:49] {nemo} Now, RIMM is headed for sixty, kinda' but pretty verticle, would it be better to see some consolidation under 60 first?

[13:50] {Threei}  of course

[13:51] {Threei}  don't buy into spike into resistance

[13:53] {nemo} jnpr

[13:53] {nemo} no volume though

[13:54] {Threei}  if DND takes .80

[13:54] {Threei}  most likely to go over 6 at some point today again

[13:54] {Threei}  DNDN that was

[13:54] {Threei}  entry here is scary

[13:54] {nemo} yep

[13:54] {Threei}  but if gives us a pullback

[13:54] {dptl} still have 100 sh

[13:54] {Threei}  will be worth considering again

[13:55] {Threei}  try to hold them

[13:55] {Threei}  not much damage if drops

[13:55] {Threei}  I mean... 13 bucks?

[13:56] {Threei}  over 1:2 btw

[13:57] {dptl} getting rimm at 60?

[13:58] {Threei}  if market spikes, worth a try

[14:00] {_george70} hi

[14:00] {Threei}  hi george

[14:00] {nemo} curious george-about the trading room?:)

[14:01] {Threei}  DND, clearing .85 this time should take it to new range between .90 and 6

[14:01] {Threei}  DNDN

[14:01] {dptl} in rimm

[14:02] {Threei}  I don't see much help from NQ at the moment

[14:03] {Threei}  I ptrefer this kind of plays on market spike and little delay for entry on your stock

[14:03] {Threei}  DNDN is working hard

[14:04] {dptl} ahh....stopped...feels like i don't know what i am doing anymore

[14:04] {dptl} rimm that is

[14:04] {nemo} it was a trap

[14:05] {Threei}  [13:58] {Threei} if market spikes, worth a try

[14:05] {Threei}  why ignore the condition attached?

[14:05] {dptl} well..it looked like it was coming up and rim slowly broke

[14:06] {Threei}  you want the lag play for these cases

[14:06] {Threei}  WHITE HOUSE ADVISOR GOOLSBEE: NEW CEO HENDERSON 'EMBRACING' NEW CHANGE IN DIRECTION FOR THE COMPANY

[14:06] {Threei}  anyone kniows what that new direction is?

[14:07] {nemo} liquidation?

[14:07] {Threei}  gallow humor

[14:07] {nemo} jnpr has been salmoning again, kinda'

[14:08] {Threei}  if it's "make small green cars whether people want to buy them or not" - that's what will finish GM off

[14:11] {larisa} green is color of hope :)

[14:11] {nemo} it's the color you turn when you're seasick too

[14:14] {Threei}  FAZ... poor thing has no bottom

[14:15] {Threei}  weird... looked like they would meet with FAS somewhere around 1-12

[14:15] {Threei}  now it's more like 8

[14:15] {Threei}  maybe 9

[14:18] {nemo} FAS forming C&H over last week

[14:19] {magoo} faz dishes out pain

[14:19] {nemo} hehehehehe

[14:20] {dptl} dndn

[14:25] {Threei}  F EXEC: IT IS PREMATURE TO EXPECT AN AUTO INDUSTRY RECOVERY THIS MONTH

[14:25] {Threei}  this mopnth?

[14:25] {nemo} fas looks like it might be topping

[14:25] {magoo} sheesh

[14:26] {Threei}  who expected that anyway?

[14:26] {Threei}  lol

[14:28] {magoo} vad quoteserver?

[14:29] {Threei}  7

[14:29] {magoo} ty

[14:29] {Threei}  FAZ new 52 low

[14:29] {Threei}  FITB is going to break .20

[14:36] {Threei}  if I were smart today, we would have entered FITB around .10 with 5-10K shares

[14:36] {Threei}  and let trade for .20 break

[14:36] {Threei}  but I today am anaything but

[14:36] {Threei}  excpet for DNDN trades

[14:37] {magoo} financialsstrong today

[14:39] {Threei}  GM CEO: BANKRUPTCY HAS NOT BEEN RULED OUT - FT

[14:39] {Threei}  - Note: Recently GM has noted there are many ways forward including pre-packaged bankruptcy, and willing to consider bankruptcy if they cant restructure out of court

[14:40] {Threei}  where is dino... when in thw fall GM said suddenly "bankruptsy is not an option" we yelled in unison "that's the end of GM"

[14:41] {larisa} he is smart and playing golf today:)

[14:42] {Threei}  gues with whom

[14:42] {Threei}  my bet is, with Rick Wagoner

[14:42] {larisa} lol

[14:42] {Threei}  who is smart too, and has all the time for golf he needs now

[14:43] {nemo} jnpr came all the way back and is up

[15:00] {Threei}  DNDN!

[15:00] {Threei}  no read from here dp

[15:00] {Threei}  feel free to exit as you see fit

[15:01] {Threei}  that was CNBC mention

[15:01] {dptl} amm......

[15:01] {Threei}  this kind of things can wear off quickly

[15:01] {nemo} just a minute ago

[15:02] {nemo} need to keep an eye on it as a short

[15:02] {dptl} dont know what to say.......i was out   earlier 

[15:03] {dptl} can't beleive this

[15:03] {Threei}  I thought we agreed you are holding last shares with original stop'

[15:03] {Threei}  which was never hit

[15:04] {Threei}  [13:54] {dptl} still have 100 sh

[15:04] {Threei}  [13:55] {Threei} try to hold them

[15:04] {Threei}  [13:55] {Threei} not much damage if drops

[15:04] {Threei}  [13:55] {Threei} I mean... 13 bucks?

[15:04] {dptl} i was...and then it second time touched .63 i got out

[15:04] {Threei}  US TREASURY HAS REPORTEDLY BEGUN TALKS WITH CHRYSLER ON POTENTIAL DEBT EXCHANGE

[15:06] {dptl} ah....need a break or somthing

[15:06] {nemo} see a short here on DNDN

[15:06] {Threei}  I don't

[15:06] {Threei}  not yet

[15:06] {Threei}  it consolidates near the high

[15:07] {Threei}  US TREASURY HAS REPORTEDLY BEGUN TALKS WITH CHRYSLER ON POTENTIAL DEBT FOR EQUITY EXCHANGE REQUIRED TO AVOID BANKRUPTCY AND MOVE FOWARD ON FIAT ALLIANCE

[15:07] {Threei}  - Reminder the Fiat CEO recently commented that the alliance would allow US loans to repaid faster

[15:08] {Threei}  OK, now that it retreated, watch for bounce back closer to high,

[15:08] {nemo} and then short the top of that

[15:08] {Threei}  then breaking 6.10 for a short trigger

[15:08] {Threei}  or what you said

[15:09] {Threei}  depending on agressiveness

[15:09] {nemo} why .10?

[15:09] {Threei}  that was support on first drop

[15:09] {Threei}  kind of runied that setup now

[15:09] {Threei}  ruined

[15:09] {Threei}  too volatile for exact entries

[15:10] {Threei}  amazing it gave us those two setups with merely 10 cents range

[15:11] {nemo} set up back?

[15:12] {Threei}  no

[15:12] {Threei}  quite muddy here

[15:12] {nemo} yeah, where'd that spike come from

[15:13] {nemo} you're upside down BB bottom

[15:17] {Threei}  a lot of pressure in it

[15:18] {Threei}  hate shorting this kind of runners while they are hot

[15:18] {nemo} Ehh...just short a few thousand over the weekend

[15:18] {nemo} NOT

[15:27] {Threei}  looks like cooling down

[15:27] {Threei}  .20 break short if stays under .30

[15:30] {dptl} in .18

[15:30] {nemo} broke too fast

[15:30] {Threei}  over 1:1

[15:36] {magoo} like 4:1

[15:36] {Threei}  DNDN

[15:36] {Threei}  RESPONDS TO MARKET RUMORS; UNCLEAR WHY STOCK HAS PERFORMED AS IT HAS

[15:36] {Threei}  rofl

[15:36] {nemo} guess when it consolidated for a moment above .10 was another entry...sheesh

[15:37] {Threei}  this one I played like violin today

[15:37] {Threei}  too bad that was the only one, lol

[15:37] {Threei}  dp... tell me you just covered it

[15:37] {Threei}  or still haven't

[15:40] {dptl} Vad....don't ask....today i did all posible mistakes....banging my self at the table ....i got out at brake even??????? don't know why

[15:41] {Threei}  AFFIRMS PLANS TO RELEASE DATA BY END OF APRIL

[15:41] {Threei}  - Notes it has no new data for its Provenge vaccine

[15:42] {Threei}  if there is no new data, what is it they plan to release?

[15:43] {nemo} James  Dendreon secured a late-breaker presentation slot for the Provenge study at the American Urological Association annual meeting, April 25-30.

[15:43] {nemo} A late-breaker presentation is offered for clinical trials or other research that are completed and submitted after the deadline for regular abstract submission is passed. While late-breaker presentation slots are usually reserved for important or high-profile research, they ARE NOT reserved solely for positive research. I have personally sat through many late-breaker presentations of failed clinical trials. In science, you can often learn 

[15:43] {nemo} Since we already know that the Provenge data will be released later this month, the fact that the results will be presented at a scientific meeting at the end of the month doesn't tell you a whole lot about whether Provenge works or not. 

[15:46] {Threei}  what is that?

[15:46] {nemo} lifted from blogs on TSCM

[15:46] {Threei}  oh boy

[15:46] {nemo} columnists.  It might be much ado about nothing

[15:47] {nemo} guy name Adam Feuerstein-biotech guy (supposedly)

[15:49] {Threei}  so far, market consolidates for rally continuation

[15:49] {wulff} not too often you have said that

[15:49] {Threei}  barring news, next week should be just that

[15:50] {Threei}  well... how long was it since we had anything remotely reminding rally... :)

[15:50] {nemo} yesterday

[15:51] {dptl} wheuuuu...out mga +.44.......almost flat...saved the day..but ......

06[15:52] * Threei slaps dptl around a bit with a large list of mistakes he already made and doesn't have to repeat on monthly basis

[15:53] {dptl} yeah...can i get that slap on daily basis,so i can remeber lol

[15:55] {fernp} have a nice weekend all. see you on monday

[15:55] {wulff} banks really strong, but index up small

[15:55] {wulff} dow and NQ

[15:55] {Threei}  take care fern

[15:55] {Threei}  yes wulff

[15:55] {Threei}  breather day

[15:56] {Threei}  less volume, no new highs, but finishing in greeen

[15:56] {Threei}  putting bears on a very short leash

[15:57] {wulff} FAz at new low

[15:57] {dptl} have a good weekend all....

[15:57] {Threei}  take care dp

[15:58] {Threei}  [11:01] {magoo} anyone think mkts can go green today?

[15:58] {Threei}  [11:01] {Threei} I think they will mags

[15:58] {Threei}  [11:01] {magoo} hmmmmmm..today?

[15:58] {Threei}  [11:02] {Threei} yup

[15:58] {wulff} bank squeeze at close

[15:59] {Threei}  [11:02] {magoo} whos more nervous to hold over weekend...bulls or bears?

[15:59] {Threei}  [11:03] {Threei} bears, IMO

[15:59] {larisa} see you monday guys :)

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good weekend

[16:00] {magoo} ty all

[16:00] {Threei}  see you on Monday for rally continuation

[16:00] {nemo} P&Q

[16:00] {wulff} Later.

Apr 02 2009

The Bahamas trip and conference were smashing. As much as I tried to take it easy today, it was hard not to profit from this day. 1 or 3 small stops, and 6-7 winners. DRYS, BAC, RIMM, CAT, JNPR, GS... things just worked.

Session Start: Thu Apr 02 02:40:26 2009

[07:35] {nemo} anybody home?
[08:35] {fernp} Hello everybody
[08:35] {nemo} good morning
[08:35] {pita} hi all
[08:35] {Threei} Good morning!'
[08:35] {nemo} there you are
[08:35] {pita} welcome home Vad
[08:36] {Threei} thank you
[08:36] {Threei} how is trading?
[08:37] {pita} tentative on my own.........
[08:38] {pita} but finished positive
[08:38] {dptl} good morning
[08:39] {Threei} dp :)
[08:39] {dptl} Hey Vad....so....how was it?
[08:39] {Threei} beyond wildsest imagination
[08:40] {dptl} i thought so :)
[08:41] {Threei} beaches are amazing
[08:41] {Threei} water color is from outer space
[08:41] {Threei} oh, and audience liked my sessions
[08:42] {dptl} nice...:)
[08:44] {Threei} that was somewhat unusual audfience for me
[08:44] {dptl} all drunk?
[08:44] {KSystems} UNusual, dp
[08:44] {Threei} not strictly daytrading crowd, rather people from long term/investment circles, hit by last couple years developments
[08:45] {Threei} and wanting to move to self-management
[08:45] {Threei} so I needed to do some serious transitioning work
[08:47] {Threei} FAZ 52 week lows
[08:48] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: REITERATES SUPPORT FOR CREATION OF NEW CURRENCY, NEW CURRENCY MAY BE LINKED TO GOLD
[08:48] {nemo} Kettle 1 please
[08:50] {pita} leave the bottle
[08:50] {magoo} morning
[08:50] {Threei} magoo :)
[08:51] {Threei} (US) FASB: NEW GUIDANCE TO BE EFFECTIVE Q2 2009
[08:51] {magoo} hey vad:) how was trip?
[08:52] {Threei} beautiful in more ways than I could list
[08:52] {nemo} we are in q2, FAS starting a selloff
[08:52] {Threei} I guess market wanted immediate?
[08:52] {nemo} eh...coming right back, they just figured out it is q2
[08:52] {magoo} great to here vad
[08:53] {magoo} room really missed ya
[08:53] {magoo} heads up though..its been very jerky still
[08:53] {Threei} well, let me ease in
[08:53] {magoo} yea
[08:53] {Threei} got about 5 hours of sleep after the plane
[08:54] {Threei} 4 is more like it actually
[08:54] {vinod} GM to all
[08:54] {magoo} let me ask this..........
[08:55] {Threei} vinod :)
[08:56] {magoo} are u sober he he?
[08:56] {Threei} yeah... but sleep deprivation will do the dame damage :)
[09:00] {cosmo} dame?
[09:01] {larisa} good morning :)
[09:01] {Threei} cosmo, larisa :)
[09:01] {larisa} welcome back :)
[09:01] {magoo} fasb voted to relax mark-to-mkt accting
[09:01] {fernp} welcome back Vad
[09:02] {cosmo} 3i,lars:)
[09:02] {Threei} thank you :)
[09:02] {larisa} cosmo :)
[09:03] {magoo} i believe RIMM reports tonite
[09:06] {cosmo} ... a gold backed world currency?
[09:06] {cosmo} hmmm
[09:06] {magoo} sounds likr roman empire he he
[09:07] {cosmo} hmm
[09:07] {cosmo} i wonder what Ron Paul thinks about that
[09:08] {ese} weary traveller....welcome back......
[09:08] {Threei} ese :)
[09:09] {Threei} G20 DRAFT: DRAFT TEXT IN LINE WITH EXPECTATIONS
[09:09] {Threei} - To channel $750B to IMF
[09:09] {Threei} - To channel $100B to WB
[09:09] {Threei} - Calls for registration of all hedge funds
[09:09] {Threei} - Regulators globally should consider the effect of pay practices
[09:13] {cosmo} use dubloon coins maybe
[09:14] {Threei} anything about market behavior over last few days I should be aware about?
[09:16] {larisa} narrow ranges with spikes both ways. yest a little better
[09:17] {ese} don't know about the market vad....but we've been behaving badly...all off us...sory bout that
[09:18] {Threei} that's quite alright, as long as no one complains
[09:18] {Threei} hope you all enjoyed it
[09:18] {ese} we miss ya....
[09:18] {Threei} this I find hard to believe
[09:19] {ese} voice of reason.....mags and i got into a quagmire with APOL yesterday from which there was no return
[09:20] {cosmo} CMCSA
[09:20] {ese} it took us down swingin though....we didn't go down without a fight
[09:21] {KSystems} Hey everybody, are there any skydivers among you? If so, please say something :-)
[09:21] {ese} would like too but my wife wll not allow it
[09:22] {i2romantis} morning all, welcome back, Vad! we missed you!
[09:22] {Threei} hi i2r, thank you
[09:24] {Threei} FASB SPOKESMAN: NO VOTE YET ON MARK-TO-MARKET ACCOUNTING
[09:24] {Threei} headline bombardment continues?
[09:25] {Threei} okay guys, game plan is: upward bias, pullback entries
[09:26] {nemo} banks keep moving up
[09:26] {pita} watching?
[09:26] {Threei} and I will try to take it easy in order to make sure I get a feel for the market instead of jumping right in and doing damage
[09:26] {Threei} no matter how clear that bahamian water is, it pulls a curtain over one's eyes
[09:26] {Threei} usual suspects pita
[09:26] {Threei} FAS
[09:26] {Threei} BAC
[09:26] {Threei} WFC
[09:27] {Threei} STT needs some serious pullback
[09:27] {Threei} RIMM
[09:29] {Threei} DRYS... maybe there is life on this planet
[09:29] {Threei} pre-market chart shapes up as 5.50 break long for it
[09:29] {Threei} with stop under 5.30
[09:29] {Threei} probably too risky for me right now
[09:30] {nemo} getting really volatile
[09:30] {Threei} but if consolidates a little close to .50, will be valid trade
[09:32] {Threei} Long Setup: DRYS .50 break if stays above .30 - .35 zone
[09:33] {magoo} missed
[09:33] {nemo} that broke too fast
[09:33] {fernp} too fast
[09:33] {nemo} all those orders at .50 then bamm!
[09:33] {_poisonivy0} wow good call starting to like this chat room lol
[09:34] {Threei} see if gives you a pullback for entry
[09:34] {nemo} Vad's like that
[09:34] {_poisonivy0} :-)
[09:34] {Threei} FAS pullback starts looking more interesting
[09:34] {magoo} ok..in .54
[09:34] {Threei} want a bit more though
[09:35] {nemo} BAC Vad
[09:35] {fernp} BAC pulling back too
[09:36] {Threei} BAC, I'd like to see a few oscillations between .60 and .65, then .65 break for entry
[09:36] {magoo} out ,68 TY BOSS
[09:36] {Threei} DRYS 1:1, half out
[09:36] {Threei} or scalp of course if you feel like safe profit
[09:37] {_poisonivy0} do you boys spreadbet on this or trade shares?
[09:37] {Threei} if taking half, stop for the balance is trailed to under 5.45
[09:37] {nemo} in BAC
[09:37] {Threei} shares, poison
[09:37] {Threei} we are very simpleminded creatures
[09:38] {_poisonivy0} lol
[09:38] {Threei} nemo, it lost .60 for a few shakes of lamb tail...
[09:38] {Threei} doesn't fully invalidfate the play, but makes it less confidfent
[09:39] {nemo} Hell then I'm out
[09:39] {Threei} hard to tell, really
[09:39] {Threei} my strategy for such case would be half out
[09:39] {nemo} With announcements coming, why screw around
[09:39] {Threei} more to reduce the risk than to secure profit
[09:40] {Threei} as Bahamas conference head said... it's all about buying and selling risk
[09:40] {magoo} rimm getting interesting
[09:41] {magoo} not in
[09:41] {magoo} im watchoing SPY
[09:41] {Threei} watching BAC for possible double bottom
[09:42] {Threei} holding .60 and breaking .70 would be confirmation
[09:42] {magoo} l rimm .30
[09:42] {Threei} .57 is closest support, so if market/BAC start upticking, aggressive entry would be about here with stop .55
[09:43] {magoo} out .55 TY vad
[09:43] {wulff} DRYS pulback
[09:43] {Threei} pre-emptive thank you?
[09:44] {magoo} yup
[09:44] {magoo} RIMM was beauty
[09:44] {magoo} anyone}??
[09:44] {Threei} if you took BAC around .63 -.65, keep .55 stop still, trail it to .59 when it breaks .70
[09:44] {Threei} if you are regular type of entry, buy .70 break with stop under .60
[09:45] {nemo} fas Vad
[09:45] {magoo} WFC vad..keep on on it
[09:45] {magoo} mover big time
[09:45] {magoo} in bac btw
[09:45] {Threei} half out BAC here for aggresive entry
[09:45] {nemo} in BAC
[09:46] {Threei} WFC pretty much played out by the same scenario, I just want tp play with slower ones for now
[09:47] {fernp} out BAC TY
[09:47] {Threei} fern :)
[09:48] {magoo} RIMM doing it
[09:48] {pita} ty bac
[09:49] {Threei} pita :)
[09:49] {Threei} ECB'S STARK: MAY POLICY MEETING MIGHT BE THE RIGHT TIME TO DECIDE ON NON-CONVENTIONAL STEPS
[09:49] {magoo} vad..STT look
[09:49] {magoo} bouncer??
[09:50] {Threei} not sure, something is not exactly right with this one
[09:51] {pita} reload bac?
[09:52] {Threei} not yet
[09:52] {Threei} we need it to establish range to break
[09:52] {Threei} for instance, .65-.70
[09:53] {Threei} JNPR...
[09:53] {Threei} looks salmonish to me
[09:54] {magoo} long JPM .20
[09:54] {magoo} duh
[09:54] {magoo} .10
[09:54] {magoo} i took STT .20
[09:54] {magoo} vad
[09:55] {cosmo} rally
[09:55] {Threei} so, you want my approval or what? :)
[09:55] {Threei} market has already approved your entry
[09:56] {Threei} Long Setup: JNPR .50 if holding above .40
[09:57] {_poisonivy0} ^^ does this mean buy once hits .40 and hold till .50
[09:57] {magoo} out STT ,66
[09:57] {magoo} still in jpm
[09:58] {Threei} no poison
[09:58] {magoo} watching WFC big time
[09:58] {nemo} breaks 50
[09:58] {Threei} buy if it hits .50 while not going lower than .40
[09:58] {Threei} WFC mags,
[09:58] {Threei} aggressive entry if market spikes
[09:59] {Threei} ENER
[09:59] {Threei} HEARING TAKEOVER CHATTER WITH FIRST SOLAR POSSIBLE BIDDER
[09:59] {Threei} {FSLR}
[09:59] {magoo} if mkt runs it will go 17 vad
[10:00] {_poisonivy0} tnks
[10:00] {Threei} *FEB FACTORY ORDERS: 1.8% V 1.5%E
[10:00] {Threei} if ou toom WFC aggressively, stop is .85
[10:00] {magoo} in yes
[10:00] {nemo} BAC break of .80 Vad
[10:01] {Threei} EX CHAIRMAN GREENBERG: US GOVT PLAN FOR AIG HAS FAILED - CONGRESSIONAL TESTIMONY
06[10:04] * Threei slaps laserdave around a bit with a large cold glass of bahama-mama
[10:09] {magoo} sropped jpm
[10:09] {nemo} if BAC breaches .60 short?
[10:09] {Threei} can't tell yet
[10:09] {fernp} JNPR is still valid, Vad?
[10:09] {Threei} market is hesitating
[10:09] {vint} good morning all
[10:10] {Threei} vint :)
[10:10] {Threei} I think so fern, just needxs confidence to return to the market for a strong bullish move
[10:10] {fernp} ok
[10:12] {nemo} jnpr invalidated
[10:13] {fernp} yeah, lost .40
[10:13] {Threei} yeah, let's leave it be
[10:18] {Threei} RIMM
[10:18] {Threei} strange weakness
[10:18] {Threei} market makes new highs
[10:18] {Threei} short canddiate on .50 break
[10:21] {Threei} STEM
[10:21] {Threei} HEARING VAGUE CHATTER THAT STRENGTH BEING ATTRIBUTED TO COLLABORATION RUMORS
[10:21] {Threei} - Rumored that Pfizer has been put out as name interestd in JV{PFE}
[10:22] {nemo} possible C&H on BAC for short?
[10:22] {Threei} yeah, starts looking this way
[10:23] {nemo} I can hear Dino's "gap close" ringing in my ears
[10:24] {nemo} indexes look like they want up though
[10:25] {Threei} cover half RIMM who got it
[10:25] {Threei} aiming to cover the balance around .15
[10:26] {Threei} stop .55
[10:27] {Threei} did I get too greedy on the RIMM balance?
[10:28] {nemo} yeah
[10:28] {Threei} oh well
[10:28] {nemo} just this one time....
[10:29] {Threei} BAC 1:1, nemo
[10:31] {Threei} okay guys, so far so good
[10:31] {Threei} 3 or 4 calls worked, WFC didn't
[10:32] {wulff} gals
[10:32] {wulff} ?
[10:32] {Threei} gals too
[10:32] {Threei} not too shabby for a severe sleep deprivation
[10:32] {wulff} not me, however
[10:33] {Threei} US AND EU FINANCIAL REGULATORS HAVE AGREED TO CAPITAL FLOOR LEVEL FOR BANKS -WSJ
[10:33] {Threei} meaning, uniform leverage for fractional reserve?
[10:34] {Threei} nothing's wrong with that if so
[10:35] {nemo} FAS might be bottoming
[10:37] {Threei} Long Setup: DRYS .51
[10:37] {Threei} stop for hard core scalpers .44, for the rest .39
[10:38] {nemo} in
[10:39] {nemo} ooh monster order @ 52
[10:39] {nemo} gone
[10:39] {Threei} hmm?
[10:39] {Threei} there are monster orders on it everywhere
[10:39] {nemo} there was a big order @ .52 on drys, now gone
[10:40] {Threei} (US) SENATORS SEND LETTER TO SEC ASKING FOR CLEAR REGULATION REGARDING NAKED SHORTS AND ABUSIVE SELLING
[10:40] {Threei} - Letter drafted by Senators Kaufman, Tester, Levin, Isakson, Chambliss and Spector
[10:40] {Threei} - Seek clear ban on naked short selling and further regulation on abusive short selling
[10:40] {Threei} - Seek regulation that addresses the need for an uptick rule along with pre-borrowment requirments
[10:40] {_poisonivy0} the market 1 dodgey plave loll
[10:40] {_poisonivy0} markets*
[10:41] {Threei} (US) OBAMA ADMINISTRATION IS DEVELOPING A HEDGE FUND TO MANAGE $500B IN TOXIC BANK ASSETS
[10:41] {Threei} is there any kind of business government is not in yet?
[10:41] {Threei} banking, insurance, hedge funds, bodyshop...
[10:42] {Threei} psychotherapy
[10:42] {cosmo} infrastructure?
[10:43] {Threei} nice spike FAS
[10:44] {Threei} let's see if it gives us a pullback
[10:44] {Threei} I'd interested closer to .55
[10:46] {wulff} took JNPR .50
[10:46] {Threei} you are at 1:1 then
[10:47] {wulff} yup
[10:48] {magoo} what is this 1:1 of which u speak?
[10:48] {Threei} wake up DRYS, what's with this coma
06[10:48] * Threei slaps magoo around a bit with a large Master Profit Plan
[10:48] {nemo} mags: original on JNPR was .50 break stop .40 invalimudated but Wulff picked it up on range reestablishment
[10:49] {magoo} :)
[10:49] {Threei} invalimudat {--- I like the word
[10:49] {Threei} invalimudated
[10:54] {fernp} DRYS is in coma
[10:54] {Threei} pretty much
[10:55] {nemo} out DRYS
[10:55] {Threei} market pulling back on low volume
[10:55] {Threei} probably one more upward thrust is in order
[10:57] {Threei} life all but disappeared from the market
[10:57] {Threei} let's talk about bahamian beaches?
[10:58] {Threei} REMINDER: TREASURY WILL MAKE IT ANNOUNCEMENT FOR THE 10-YEAR NOTE TIPS OFFERING AROUND 11:00PM
[10:58] {i2romantis} yes, how were the beaches?
[10:59] {Threei} phantastik
[11:00] {Threei} very fine white sand
[11:00] {vint} did u miss trading?
[11:00] {Threei} U.S. TREASURY TO SELL $6B IN 10 YEAR TIPS
[11:00] {Threei} nah, I am not THAT addicted
[11:01] {Threei} some very funny looking fish around
[11:01] {nemo} Gold or miners might be a buy if that auction doesn't go well
[11:01] {Threei} (US) FASB ADOPTS VOTES TO ADOPT MARK-TO-MARKET CHANGES
[11:02] {Threei} hmm?
[11:02] {Threei} is it Enlgish?
[11:02] {wulff} JNPR survived the .50 test
[11:02] {Threei} yes wulff... classic
[11:02] {Threei} former resistance, new support...
[11:03] {wulff} touched .51
[11:04] {nemo} I wonder if M2M changes are irrelevant in it doesn't change the quality of the assets, just the price on the "for sale" sign.
[11:04] {wulff} is 17 too greedy?
[11:06] {Threei} pretty much dfepends on what market does
[11:08] {Threei} NY FED: PURCHASED $7.49B IN TREASURIES IN FIFTH ROUND OF $300B PURCHASE PROGRAM; DEALERS SUBMITTED $26.25B FOR CONSIDERATION ( 3.5 BID TO COVER)
[11:08] {Threei} - Heaviest purchase was $4.35B in the 3/31/2014 maturity
[11:08] {Threei} - Average bid to cover over last four auctions has been 3.02
[11:09] {Threei} UK PM BROWN COMMENTS ON G20; SAYS GROW MARKS FIGHTBACK AGAINST GLOBAL ECONOMIC RECESSION; IMF TO RECEIVE TRIPLING OF RESOURCES
[11:09] {Threei} - Fiscal stimulus to toal $5T by end of 2010
[11:09] {Threei} - G20 agreed to $1B available to world economy; $500B for IMF
[11:09] {Threei} - G20 agreed to $250B in SDRs
[11:09] {nemo} here we go on the new currency
[11:09] {Threei} that's not a new currency
[11:09] {Threei} that's an old currency
[11:09] {Threei} it's available to anyone for many years
[11:09] {nemo} yes but...process towards new reserve
[11:10] {Threei} and no one wants to use it
[11:10] {nemo} Perhaps it will be a perceived lesser of two evils $ or SDR
[11:10] {Threei} yeah... there was enthusiasm about it at the beginning... fizzled out... I bet it will be the same this time
[11:11] {Threei} JNPR is coming into 1:3
[11:11] {wulff} yup
[11:11] {Threei} you are on your own wulff... good trade
[11:15] {Threei} hmmm
[11:15] {Threei} FAS did pull back into .55
[11:15] {Threei} just as I wanted
[11:15] {Threei} but I probably dozed off, lol
[11:16] {Threei} [10:43] {Threei} nice spike FAS
[11:16] {Threei} [10:44] {Threei} let's see if it gives us a pullback
[11:16] {Threei} [10:44] {Threei} I'd interested closer to .55
[11:17] {Threei} G20 COMMUNIQU : STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:17] {nemo} sure...
[11:17] {Threei} I want their calculator
[11:17] {Threei} or what they are smoking
[11:18] {nemo} break of .66 on FAS?
[11:18] {Threei} nah
[11:19] {Threei} who kept DRYS, start looking for exit door
[11:20] {Threei} I am out at .58
[11:21] {Threei} probably has more in it but I am running the risk to fall alseep while it's moving
[11:21] {Threei} too bad we missed .55 on FAS
[11:21] {Threei} was nice scalp
[11:23] {Threei} *G20 COMMUNIQU: AGREE ON $850B FUNDING FOR IMF AND WORLD BANK; STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:23] {Threei} - central banks pledged expansionary policies for as long as needed; to use all policy tools
[11:23] {Threei} - G20 will take action to restore flow of credit
[11:23] {Threei} - Completing DOHA trade round is 'urgently needed'
[11:23] {Threei} - To regulate 'sistemically important hedge funds'; demand 'sustainable compensation schemes'
[11:27] {wulff} here comes 17
[11:27] {Threei} wtg
[11:33] {nemo} weird, look at BAC teetering on the edge
[11:33] {Threei} there are a lot of disconnects
[11:34] {Threei} not many stocks followed the market into highs
[11:34] {Threei} JNPR being notable and pleasant exception
[11:34] {nemo} I know it's just opinion...but this M2M is just a new paint job on the Potemkin Village
[11:35] {nemo} akamai moved nicely today too
[11:43] {pita} anyone watching aapl?
[11:45] {Threei} usually one of constantly on radar... just trying to stay away from too fast ones today
[11:50] {nemo} cat moved up nice today but might be double topping
[11:51] {Threei} everyuthing feels to me like down from here
[11:53] {Threei} things are too quiet though
[11:54] {Threei} and I hate shorting qwuiet market
[12:00] {Threei} DRYS exceeded my expectations
[12:15] {vint} RIMM is up on good volume
[12:17] {Threei} market consolidates for another break and leg up
[12:18] {Threei} trying to find followers
[12:20] {larisa} missed PLD break of day high
[12:23] {vint} Vad- when you have a moment, 1 question: for entry, what is better? limit order or market order
[12:23] {Threei} limit, a few cents above the offer price
[12:23] {Threei} not more than you are willing to chase for
[12:24] {vint} got it,thanks
[12:27] {Threei} JNPR, wow
[12:28] {nemo} Might get that 500 point day
[12:29] {larisa} nah, will close around 8000 :)
[12:29] {nemo} such a pessimist
[12:31] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: US IS PREPARED TO DISCUSS "DIFFERENT IDEAS" ON MISSLE DEFENSE SHIELD
[12:36] {Threei} IMF'S STRAUSS-KAHN: SDR WILL PROVIDE THE GLOBAL FINANCIAL SYSTEM WITH LIQUIDITY, CAN BE USED BY ONE COUNTRY TO LEND TO ANOTHER
[12:36] {Threei} - Expects SDR to increase the reserves of member states and provide stability.{EUR/USD EUR/GBP GBP/USD USD/JPY EUR/JPY USD/CAD
[12:40] {pita} later everyone, happy hunting
[12:40] {Threei} take care pita
[12:54] {Threei} anyone sees anything trade-worthy?
[12:54] {dptl} unp?
[12:55] {Threei} scary one...
[12:56] {i2romantis} thinking maybe DRYS, but very cautious
[12:56] {Threei} can punish brutally if you arer on a wrong side...
[12:56] {Threei} DRYS dropped sharply into support
[12:56] {Threei} bounce candidate with market upward resumption
[12:57] {Threei} just won't be fast
[12:57] {i2romantis} ok
[13:03] {nemo} There is a remarkable lack of volume in this move today
[13:04] {Threei} NQ looks more or less fine, considering dau is not over yet
[13:04] {Threei} what about DJI?
[13:04] {nemo} 115%
[13:04] {Threei} why lack then?
[13:04] {nemo} It's not huge volume, just a little above average
[13:05] {Threei} we still have three hours to go
[13:05] {Threei} and we are already above average
[13:05] {Threei} looks just right to me - volume increases but not becomes hysterical yet
[13:06] {nemo} look at JNPR
[13:09] {Threei} US SENATE APPROVES BUDGET AMENDMENT TO REQUIRE DISCLOSURE OF COMPANIES ACCEPTING GUNDS FROM THE FED
[13:09] {Threei} just half year later... good job boyz
[13:09] {larisa} guns ? funds ?
[13:09] {nemo} You didn't see the contributions to their campaigns
[13:09] {Threei} lol
[13:10] {Threei} funds typed by someone with skills fairly similar to mine
[13:16] {i2romantis} DRYS, new support or new sliding deck?
[13:16] {Threei} no read on it until market degines something
[13:16] {Threei} let's try short on CAT
[13:16] {Threei} .55 would be a stop
[13:17] {Threei} aggressive entry near .50
[13:17] {Threei} first weakness fron here
[13:17] {Threei} if goes over .55 will be invalidated
[13:19] {dptl} in .49
[13:19] {Threei} NAV halt
[13:21] {Threei} CAT over 1:1
[13:21] {Threei} half cover
[13:21] {Threei} beauty of aggressive entries eh
[13:21] {dptl} out 35 ty
[13:21] {Threei} welcome
[13:21] {fernp} great call Vad. ty
[13:22] {Threei} fern :)
[13:22] {Threei} out in full .28
[13:25] {Threei} and we didn't buy FAZ ascending triangle break at .75 why?
[13:25] {nemo} you're tired?
[13:25] {Threei} can't tell... I'd have to wake up to gauge that
[13:26] {Threei} and I have no intention to wake up till Mon
[13:26] {nemo} gonna' sleep through Friday, huh?
[13:31] {nemo} looks like you might be getting your bollinger band reversal formation on the indexes
[13:32] {nemo} CAT just completed it
[13:34] {Threei} JAVA
[13:34] {Threei} WSJ: DEAL FOR COMPANY FROM IBM NOW AT $9-10
[13:37] {Threei} Notes JAVA may take lower price for deal protection, with antitrust issues as a concern
[13:37] {Threei} - Reminder on 3/18: WSJ reportedly IBM was likely to pay between $10-11/shr for the company{IBM}
[13:38] {Threei} US REP KENNEDY PROPOSES TO REINSTATE GLASS STEAGALL
[13:38] {nemo} which one, from RI?
[13:38] {Threei} I can't believe it took them this long to think of it
[13:38] {nemo} wedge on FAS on 1 minute
[13:39] {nemo} ope
[13:39] {nemo} nope
[13:43] {nemo} pretty good so far Larisa
[13:43] {larisa} :)
[13:44] {vint} Vad- feels like going long for RIMM if it bounces off .40 area.
[13:44] {Threei} .40?
[13:45] {vint} not sure
[13:45] {Threei} it's under
[13:46] {vint} uh yes, i meant .20
[13:46] {Threei} okay... then yes :)
[13:47] {nemo} market woke up
[13:47] {nemo} ehh...maybe just stuck it's head out from the covers
[13:50] {nemo} JNPR head and shoulders?
[13:51] {Threei} kind of, yeah
[13:51] {nemo} I"m seein' things
[13:51] {nemo} damn flying monkees
[13:51] {Threei} a bit lopsided
[13:51] {nemo} hunchback
[13:57] {Threei} GM
[13:57] {Threei} FORECASTING RESTRUCTURING PROGRAM IN EUROPE TO LAST UNTIL THE MIDDLE OF 2009; HAS CONTINGENCIES IF TALKS TAKE LONGER
[13:57] {Threei} wow
[13:57] {Threei} what just killed finniesA?
[14:00] {dptl} drys.45?
[14:04] {Threei} tough call
[14:04] {dptl} ok
[14:05] {nemo} same w cat break of .50
[14:05] {nemo} well that went
[14:10] {nemo} CAT just spiked down to test support
[14:16] {Threei} REPORTEDLY HOUSE BILL TO REVAMP CREDIT CARD RULE HAS CLEARED A MAJOR HURDLE
[14:16] {Threei} {V MA AXP DFS JPM C}
[14:17] {nemo} what, they can't have a pound of flesh anymore and have to stop speaking braille on those explanation statements, sheesh
[14:19] {nemo} wow quite the telport on cat
[14:22] {Threei} FAZ dfoes quite readable teleportations
[14:22] {Threei} can't call them in time
[14:22] {Threei} they are lightening
[14:22] {Threei} but if you obsderve them, can scalp them quite safely
[14:22] {Threei} just don't go over half lot
[14:23] {magoo} whats the range u seeing?
[14:24] {Threei} mostly between 18 and 18.35, with useful range for scalps about 15-20 cents
[14:25] {vint} market seems quiet even after lunch hrs..right?
[14:25] {Threei} mostly, yeah
[14:25] {nemo} volume is tapering off at the moment
[14:26] {nemo} CAT's probably going back to test the highs
[14:27] {Threei} FAZ
[14:27] {Threei} .81 long if stays above .75
[14:28] {Threei} invalidated
[14:28] {Threei} .76
[14:28] {Threei} if stays above .70
[14:33] {nemo} CAT touched .91
[14:34] {nemo} .92
[14:34] {Threei} .93?
[14:34] {nemo} yep
[14:34] {nemo} was hoping for the start of a handle, might not get it
[14:38] {magoo} vad..give me a read GS paluease
[14:38] {Threei} 114 break
[14:38] {Threei} if climbs into it more or less slowly
[14:39] {Threei} other than that, nothing recognizable to me
[14:39] {Threei} maybe sharp drop into 113.20 zone for a scalp bounce
[14:40] {Threei} so far so good a for a break
[14:40] {magoo} thas pretty good
[14:40] {magoo} got read AAPL?
06[14:41] * Threei slaps magoo around a bit with a large suggestion to keep his appetite in check
[14:41] {Threei} half out GS
[14:42] {Threei} if want more than a scalp, look for .40 - .50 zone for exit
[14:42] {Threei} here we go
[14:42] {Threei} out .45
[14:43] {magoo} i got .37 TY BOSSMAN
[14:43] {Threei} welcome
[14:43] {Threei} even though you literally pulled this call out of me
[14:43] {magoo} oh wait..i pre-empt TY earlioer
[14:43] {Threei} lol
[14:44] {Threei} now I realize I missed you guys
[14:47] {magoo} we may see seelling in last half hour ahead of employmt numbers
[14:47] {Threei} or panic covering
[14:48] {nemo} was a bad adp number this week 742k
[14:48] {magoo} ya ya...that two
[14:48] {Threei} market is still up 0ver 300 points, and on a bigger volume vs yesterday
[14:48] {Threei} kind of hard to imagine shorts feeling comfiortable
[14:48] {nemo} if employment comes in in-line market will likely be happy
[14:49] {nemo} CAT vad? consolidating under .95
[14:49] {nemo} ?
[14:51] {Threei} not sure...
[14:51] {nemo} lost .90
[14:51] {Threei} somehow tough to get read on it here
[14:51] {Threei} what did we have 1-2 stops today? with about 5-7 calls working?
[14:52] {Threei} can I stop even pretending I care to find any more plays? :)
[14:53] {magoo} im down a lil
[14:53] {magoo} on my bootleg plays
[14:53] {magoo} so get working
[14:53] {nemo} oy weh
[14:53] {Threei} those are not my resp;onsibility
[14:54] {Threei} I never endorsed bootlegging
[14:54] {Threei} (without cutting me my share that is)
[14:56] {nemo} idiot me...when cat lost .90 I also saw the indexes weakening...obvious short
06[14:56] * nemo slaps nemo around a bit with a large sledge hammer
[15:17] {larisa} .
[15:19] {Threei} ..
[15:19] {dptl} ok..here ...
[15:19] {larisa} lol
[15:39] {dptl} nite all
[15:40] {Threei} take care dp
[15:44] {nemo} CAT got time to break the C&H?
[15:44] {Threei} time, yes... gas, not so sure
[15:45] {nemo} bounce near .70?
[15:46] {nemo} nope
[15:46] {Threei} I don't know what to make of this sudden reversal in everything
[15:46] {Threei} it throws off all technical reads
[15:47] {nemo} locking in gains
[15:47] {nemo} although, just got a hammer on cat
[15:48] {nemo} wow
[15:49] {Threei} so... is the room topic right for today?
[15:49] {nemo} Magoo...I think this is for you
[15:50] {Threei} he has no idea where to look for room topic
[15:50] {nemo} Why don't you tell him?
[15:50] {Threei} what for?
[15:51] {nemo} Why not?
[15:51] {Threei} we discuss the room topic, he gets curious, asks where it is
[15:51] {Threei} we don't tell him
[15:51] {nemo} oh
[15:51] {Threei} he feels tortured
[15:51] {Threei} isn't it fun you would expect me to want to have?
[15:51] {nemo} yeah...like clubbing baby seals
[15:52] {nemo} that might have been a bit extreme
[15:52] {nemo} Perhaps the PPT thought a finish above 8000 was just too much
[15:52] {Threei} larisa nailed the day the closest
[15:53] {larisa} 8 more monutes, 40 more points
[15:53] {larisa} O=I
[15:54] {nemo} volumes just a hair above average
[15:59] {larisa} see you tomorrow guys, vad get good sleep :)
[15:59] {Threei} thank you all
[16:00] {Threei} have a great evening, see you tomorrow!
[16:00] {magoo} ty vad..all
[16:00] {vint} thanks Vad, bye all