Apr 09 2009

As most of big gap days, this one was tough for intraday trades. The only game in town was financial sector, and excessive gap and volatility made the read hard. Stops and wins came and went in roughly equal numbers. 

Session Time: Thu Apr 09 00:00:00 2009

[08:03] {Threei}  08:01am

[08:03] {Threei}  [WFC] Wells Fargo & Co Guides Q1 $0.55, R $20B v $19Be

[08:03] {Threei}  - Combined net charge-offs of $3.3B, compared with fourth quarter net charge-offs totaling $2.8 billion at legacy Wells Fargo and $3.3B at legacy Wachovia

[08:13] {Threei}  07:27am

[08:13] {Threei}  [APWR] A-Power Energy Generation Systems Reports Q4 0.30 v $0.15e, R $81.4M v $75.9Me

[08:13] {Threei}  - Guides FY09 Rev $290M v $259Me

[08:13] {nemo} wow

[08:14] {cosmo} CAT's up

[08:15] {cosmo} could be the next big auto maker...

[08:15] {Threei}  everything's u[

[08:15] {Threei}  except FAZ and others of that breed

[08:15] {nemo} Futures have exploded

[08:15] {Threei}  WFS earnings... rumor all 19 banks passed stress test

[08:16] {nemo} we know they were all going to pass

[08:16] {Threei}  hmm?

[08:16] {Threei}  that wasn't thew theme

[08:16] {Threei}  the theme was, no announcement of test results for this or for that reason

[08:17] {Threei}  which injected skepticism

[08:17] {nemo} Yeah, think of it like analyst upgrades and downgrades

[08:17] {nemo} Even if they didn't pass, we'll never know

[08:17] {Threei}  "all passed" certainly has mark of good news on it

[08:18] {nemo} Potemkin Village comes to mind

[08:18] {Threei}  sure

[08:18] {Threei}  but that was not a given

[08:18] {nemo} Unless we're being led

[08:19] {Threei}  FAZ... oh the pain

[08:19] {Threei}  those who think low price by default is a buy, have a great opportunity to re-think their thinking

[08:20] {nemo} amazing...WFC...record net income after preferred's

[08:20] {cosmo} ... and bailouts...

[08:21] {nemo} http://www.ritholtz.com/blog/2009/04/stress-test-insanity/

[08:21] {larisa} good morning everybody :)

[08:21] {nemo} larry :)

[08:21] {cosmo} hmmm

[08:21] {Threei}  larisa :)

[08:22] {nemo} watcha thinking cosmic?

[08:22] {cosmo} la''y

[08:22] {larisa} looking in the mirror, no, not larry :)

[08:22] {nemo} oh, freeform...silly...or is it 'ally?  Seen the futures? Big train a coming.

[08:23] {cosmo} that's the light at the end of the tunnel

[08:23] {nemo} Sure it is  :)

[08:25] {cosmo} CSCO nice pull back...

[08:25] {cosmo} 7.49

[08:26] {nemo} The SEC sales tax will increase from $5.60 per million dollars sold to $25.70 per 

[08:26] {nemo} million dollars sold. 

[08:26] {nemo} They're almost quintupling the sales tax!

[08:28] {cosmo} SNDK

[08:30] {cosmo} 14.10 recent high

[08:30] {Threei}  (US) INITIAL JOBLESS CLAIMS W/E APR 4TH: 654K V 660KE; CONTINUING CLAIMS W/E MARCH 28TH: V 5.8ME

[08:30] {Threei}  CONTINUING CLAIMS W/E MARCH 28TH: 5.84M V 5.8ME

[08:30] {Threei}  - Prior Jobless Claims revised from 669k to 674Kk

[08:30] {Threei}  - Prior continuing Claims revised from 5.728M to 5.745M

[08:30] {ese} morning

[08:30] {Threei}  ese :)

[08:31] {Threei}  (US) FEB TRADE BALANCE: -$26.0B V -$36.0BE

[08:31] {Threei}  - prior revised from -$36B to -$36.2B

[08:31] {Threei}  (US) MARCH IMPORT PRICE INDEX M/M: 0.5% V 0.9%E, Y/Y: -14.7% V -14.7%E

[08:31] {Threei}  - prior (m/m) revised from -0.2% to -0.1%

[08:31] {Threei}  - prior (y/y) revised from -12.8% to -12.7%

[08:33] {fernp} Hello everybody

[08:33] {Threei}  fern :)

[08:35] {ese} any word on the Bulk Dry Index Vad?

[08:36] {Threei}  not yet today

[08:37] {ese} I held my 4000 shs of drys yesterday overnight...i'm up 2000 to start.....after the announcement by Maersk that he's rasing rates....i went hmmmmmmm

[08:41] {vinod} good morning

[08:41] {dptl} good morning

[08:41] {Threei}  vinod, dp :)

[08:42] {Threei}  ese... had a look at F?

[08:42] {ese} yup

[08:42] {Threei}  C

[08:42] {Threei}  FOX-PITT ANALYST COMMENTS THAT CITI HAS AN "INCREASED PROBABILITY OF SURVIVAL"

[08:43] {Threei}  IMF'S LIPSKY: WORTH CONSIDERING SINGLE CURRENCY IN THE FUTURE

[08:43] {Threei}  uhhu

[08:43] {Threei}  dream on

[08:43] {ese} i missed that consolidation patter between .62 & .72 cents....that looked very much like Fitb

[08:44] {Threei}  that was my point when I mentioned it to you... and I made the parallel between the two

[08:44] {ese} single curency with who.....us?

[08:44] {Threei}  worldwide I take it :)

[08:45] {Threei}  IMF'S LIPSKY: WORTH CONSIDERING SINGLE CURRENCY IN THE FUTURE; CURRENCY DEBATE ALWAYS COMES UP DURING CRISES

[08:45] {Threei}  - Sees no 'short-term' move from current reserve currencies

[08:45] {ese} I'm trying to find stocks with narrow consolidation pattern like that.....easy to read and very effective

[08:46] {Threei}  sheesh WFC

[08:46] {ese} whoa...your not kidding

[08:47] {ese} wfc

[08:49] {ese} financials look like they'll be in play today

[08:49] {magoo} morning

[08:49] {Threei}  magoo :)

[08:50] {magoo} whats going on with financials today?

[08:50] {pita} gm all

[08:50] {ese} going nuts

[08:50] {Threei}  WFC good earnings, and ruimor that all 19 banks passed stress test

[08:50] {ese} pita

[08:50] {Threei}  pita :)

[08:50] {magoo} crushing SKF

[08:50] {Threei}  and FAZ

[08:51] {Threei}  FAS high from 03/19 is 7.8

[08:52] {magoo} u in anything here?

[08:52] {Threei}  in F from yesterday...

[08:52] {Threei}  nothing today, things opened with prohibiting gap

[08:53] {magoo} ma WFC nuts

[08:53] {ese} nice vad.....when did you get in...at the consolidation?

[08:53] {Threei}  no, later... 3.95

[08:54] {cosmo} and now....a stress test for traders?

[08:54] {ese} everyday a stress test cos..........brutal business

[08:54] {Threei}  dumped 5K at 4.15, +.20

[08:55] {Threei}  5K left

[08:55] {ese} nice........

[08:55] {Threei}  it's beden quite a while since I did anything like this

[08:55] {Threei}  been

[08:57] {ese} you still have a half a postion vad?

[08:57] {Threei}  yes

[08:57] {Threei}  want to exit into spike over .20

[08:58] {Threei}  stop 3.99 now, so no way I lose on this one

[08:58] {cosmo} ... trading like its 1999

[08:59] {nemo} geez...if WFC reports .55/qtr that's $2.20 for the year, times a conservative 12 multiple, that's around $26.50

[09:01] {nemo} what are we watching besides F :)

[09:01] {Threei}  ah come on

[09:01] {nemo} is this throw a dart day?

[09:01] {Threei}  imagine you are asked to provide list to watch this morning

[09:01] {Threei}  what would you suggest?

[09:01] {nemo} How many times you told me not to think?????

[09:01] {Threei}  still do...

[09:02] {nemo} I'm confused

[09:02] {Threei}  you don't need to think to come up with stocks to watch this morning

[09:02] {cosmo} think so?

[09:02] {Threei}  lol

[09:07] {Threei}  WFC CFO: BELIEVES ECONOMY IS 'NOT OUT OF THE WOODS' YET

[09:09] {cosmo} carefull ... wooden nickles

[09:11] {dino} gm all

[09:11] {Threei}  dino :)

[09:12] {ese} dino

[09:12] {Threei}  WFC CFO: FEEL LIKE THE COMPANY 'A LOT CLOSER TO BOTTOM'

[09:12] {Threei}  ummm

[09:13] {Threei}  by today's action, it's a lot farther from the bottom

[09:13] {ese} ya....wheres he at?

[09:14] {ese} ya just get the feeling that some of these guys just have no clue.......no wonder there companies go under

[09:15] {Threei}  well, to be fair... this whole debacle has shown not many in the world had any clue, lol

[09:15] {ese} indeed

[09:15] {Threei}  scanhged my mind a bit and dumped 3K more F

[09:16] {cosmo} the "poor dads' had a clue tho

[09:16] {nemo} morning euphoria fading?

[09:17] {ese} not according to the qqqq nemo

[09:17] {dino} m2m changes the reason for wfc?

[09:17] {dino} txt rumor bid of 21 from arab co.

[09:17] {Threei}  (US) REPORTEDLY US OFFICIALS ARE NOT LOOKING TO ASSESS SOLVENCY OR CLOSE ANY INSTITUTIONS BASED ON RESULTS OF BANK STRESS TESTS, ACCORDING TO SOURCE - UNCONFIRMED REPORT

[09:17] {Threei}  {XLF}

[09:17] {dino} then why bother

[09:18] {Threei}  they mean test results were good

[09:19] {Threei}  9:02am

[09:19] {Threei}  [TXT] Textron Inc Hearing cautious comments out of UBS

[09:19] {Threei}  - Calls Kuwait/UAE buyout reports "extremely unlikely"

[09:20] {Threei}  [08:13] {Alert} Threei [APWR] A-Power Energy Generation Systems Reports Q4 0.30 v $0.15e, R $81.4M v $75.9Me

[09:20] {Threei}  [08:13] {Alert} Threei - Guides FY09 Rev $290M v $259Me

[09:22] {dino} japan stimulus pushing solar

[09:23] {Threei}  let's be patient guys

[09:23] {Threei}  these huge gap days present a challenge

[09:23] {Threei}  three scenarios:

[09:23] {Threei}  first, crowd's thinking - profit-taking, selloff after the open

[09:24] {Threei}  not the one I'd go for until and unless there are serious signs of it

[09:25] {Threei}  second, least desirable but unfortunately quite frequent - stall, narrow range, niot much happening, breaks of the range are fakeouts as prices return into the range without giving enough profit

[09:25] {Threei}  third, my favorite, as it goes trotally against conventional thinking,

[09:26] {Threei}  consolidation, breakout and further creep up, counter-intuitive, crowd-killing

[09:26] {dino} the up gaps have been filling this week

[09:26] {ese} thats what i was going to say 

[09:26] {dino} then say it, :)

[09:26] {magoo} gaps dont always fill same day

[09:26] {ese} seemed like any gaps i looked at where gone shortly thereafter

[09:26] {magoo} mostly noit

[09:26] {magoo} not

[09:27] {Threei}  will have to wait a bit to catch the signs of most likely scenario

[09:27] {ese} you beat me too it

[09:27] {Threei}  out last 2K F .24

[09:27] {nemo} guess you can go home now

[09:28] {dino} i'm a seller higher buyer lower

[09:29] {cosmo} buy pull-backs as mkt climbs the 'wall of worry' ....maybe

[09:30] {ese} and were off

[09:32] {dino} watch 8016, 1316, 845 imo

[09:32] {nemo} we hit the first turn yet?

[09:32] {nemo} at the track that is...

[09:35] {magoo} .

[09:38] {dino} cb, trv neg.

[09:39] {ese} dino ..opinion....gap on the qqqq get filled today or some other time

[09:39] {Threei}  starting to scale back into F

[09:39] {nemo} "or some other time"   mmmmmhhh

[09:40] {ese} another day

[09:40] {Threei}  want to accumulate it a bit

[09:40] {Threei}  1K in .04

[09:40] {dino} some time 98%, today 50/50

[09:41] {Threei}  AMTD HEARING TAKEOVER CHATTER CIRCULATING

[09:41] {Threei}  - TD rumored as potential acquirer (note TD is currently a stakeholder)

[09:41] {ese} tks......maybe the banking news will keep it up

[09:41] {dino} let's go w/a beer bet, i say today

[09:42] {Threei}  WFC slowly becoming interesting for bounce

[09:43] {Threei}  F jumped not giving me chance for more

[09:43] {Threei}  whatever, out +.11

[09:45] {Threei} Long Setup:  RIMM  .85 if stays above .70

[09:46] {dino} mon. close to tues. gaps closed

[09:46] {nemo} invalu..

[09:46] {Threei}  WFC

[09:46] {Threei}  DEPOSIT FLOWS HAVE BEEN GOOD; NET INTEREST MARGIN BETTER THAN EXPECTED - CNBC

[09:47] {dino} trv l .50

[09:47] {Threei}  anyone took F?

[09:47] {pita} missed

[09:47] {Threei}  I underestimated this bounce

[09:48] {nemo} wfc vad

[09:51] {dino} trv stopped -.25

[09:55] {Threei} Long Setup:  GE  11.30 if stays above .20

[09:58] {ese} see anything on the Baltic dry Index yet Vad?

[09:58] {Threei}  nope

[09:59] {ese} considering toasting drys

[09:59] {fernp} out GE. I was long from 11.21

[10:00] {ese} nice scalp fern

[10:00] {fernp} ty ese

[10:00] {ese} text book that one

[10:01] {ese} I like those consolidaions myself

[10:01] {fernp} yeah, me too

[10:01] {Threei} Long Setup:  RIMM  .80 break if stays above .65

[10:04] {magoo} in out

[10:04] {magoo} .94

[10:05] {Threei}  market is climbing, but... do you see may stocks following?

[10:05] {cosmo} sndk

[10:08] {dino}  no

[10:09] {ese} out drys .82 + .30 on 4000shs

[10:09] {Threei}  wtg

[10:09] {ese} tks vad

[10:10] {Threei}  US PRESIDENT OBAMA: LOW RATES ASSISTING IN INCREASED REFINANCINGS; ADMINISTRATION IN PROCESS OF IMPLEMENTING FURTHER PHASES IN HOUSING PROGRAM

[10:11] {ese} q's headed down....perfectly formed rounded top

[10:11] {dino} qqqq s .90, stop .02

[10:11] {ese} according to the technical analysis boks i've read

[10:11] {ese} althought they are mostly wrong

[10:11] {vint} good morning all

[10:11] {ese} how that for contradiction

[10:12] {Threei}  vint :)

[10:13] {ese} vint

[10:13] {wulff} holding GE vad?

[10:13] {Threei} Short Setup: HIG  10 break if staying under 10.10

[10:13] {Threei}  GE took only half of my offer at 1:1

[10:14] {Threei}  still in second half

[10:14] {wulff} ok

[10:14] {Threei} Short Setup: WFC  .54 if stays under .65

[10:15] {Threei}  WFC HEARING FRIEDMAN BILLINGS MAKING CAUTIOUS COMMENTS

[10:15] {Threei}  thank you Friedman

[10:16] {Threei}  great timing

[10:17] {Threei}  grrr

[10:17] {Threei}  out

[10:17] {Threei}  shouldn't be too greedy still

[10:18] {dino} hrly drop

[10:18] {Threei}  AFFIRMS EXPLORATION OF STRATEGIC ALTERNATIVES

[10:20] {wulff} FAS hjolding .50 nicely

[10:21] {Threei}  GE over 1:1

[10:21] {wulff} weeee geeee

[10:24] {Threei}  GM EUROPE SALES CHIEF: DELIVERED 178K VEHICLES; ORDERS +42% Y/Y

[10:25] {fernp} wfc again Vad?

[10:26] {Threei}  chart looks right for short but kind of hard to nail entry

[10:26] {fernp} ok

[10:27] {Threei} Long Setup:  RIMM  .25 if stays above .10

[10:28] {ese} L ebay .91

[10:29] {Threei}  US HUD SECRETARY: EXPECT MORTGAGE RATES TO CONTINUE TO DROP - CNBC INTERVIEW

[10:29] {ese} out ebay .95 +.04 3000shs

[10:29] {Threei}  ese firmly in scalp type I camp now

[10:30] {magoo} es..u laser?

[10:30] {ese} vad strikes again.....it's the only way to play the market...thank you vad

[10:30] {ese} no ..questrade in toronto....lousy broker

[10:31] {magoo} so u made 120..whats commission on that rouind trip?

[10:31] {ese} 4.95 each way

[10:31] {dino} qqqq bstop to b/e

[10:32] {ese} what is it with laser?

[10:34] {Threei}  wulff, GE went to 1:2... you out?

[10:34] {wulff} yes .43

[10:34] {Threei}  :)

[10:34] {wulff} scalped

[10:35] {Threei}  IMF OFFICIAL: A VOTE ON SDR (SPECIAL DRAWING RIGHTS) ALLOCATION IS UNLIKELY TO OCCUR BY ITS SCHEDULED SPRING MEETING

[10:35] {dptl} bac?

[10:35] {dino} qqqqcov flat

[10:35] {dptl} ah broke

[10:35] {ese} mags you there

[10:35] {Threei}  grrr

[10:36] {Threei}  just thought of another RIMM entry, 62.80

[10:39] {magoo} if 63 holds..rimm setting p for a rip

[10:39] {magoo} WFC vad..read here?

[10:39] {magoo} oi like long

[10:39] {nemo} break .20?

[10:40] {Threei}  no read on WFC

[10:40] {wulff} RImm break too risky or?

[10:40] {Threei}  so far breaks didn't work on it

[10:41] {Threei}  didn't even trigger

[10:41] {Threei}  .25 is still a break trigger by the chart

[10:41] {Threei}  but I'd think pullback is more likely again

[10:41] {magoo} if holds 63..if mkt spikes up..then i like .20 trigger

[10:44] {ese} mags...what are the commisions with laser

[10:44] {wulff} there's your wfc vad

[10:44] {Threei}  now WFC is losing it

[10:44] {magoo} 5 per 1k in

[10:45] {magoo} plus trans fees

[10:45] {dino} onlines ed crushed again

[10:45] {magoo} only if you hit bid/offer

[10:45] {dino} apol wants 60 strike, esi at 100

[10:46] {dino} apol break of .75 s

[10:49] {dino} cb sm l .00, stop lod

[10:49] {dptl} we closed tomorrow right?

[10:49] {Threei}  yes

[10:50] {dptl} ty

[10:50] {dino} itg sm l .35

[10:50] {dino} stop .10

[10:50] {dino} dieeeeeeeeeee apol

06[10:50] * magoo slaps dptl around a bit with a large trout

[10:50] {dptl} oops :)

[10:51] {dino} bstop apol .03

[10:55] {dino} cov apol .35, +.40

[10:55] {dino} cb, trv waking up

[10:56] {dino} tooooo soooooooooon

[10:56] {Threei} Long Setup:  NFLX  .55 break if stays above .40

[10:58] {wulff} what;s the reasoning there? continuation?

[10:58] {Threei}  standard JBE setup, reinforced by big offer at ,55

[10:59] {dino} anything can (and lately will) happen

[11:02] {magoo} way fast

[11:02] {nemo} blew buy me

[11:03] {magoo} yeah..i was gonna hit .54

[11:03] {dptl} l .58

[11:03] {wulff} now I see

[11:04] {Threei}  for very scalpy types stop can be .45

[11:04] {Threei}  but we are at 1:1 even with original one

[11:05] {dino} chtt sm l .50

[11:05] {wulff} it looked to me like falling to .30 was just as easy ...or?

[11:05] {dptl} can't get fill at .70

[11:05] {Threei}  before triggering or after?

[11:05] {wulff} OK right

[11:06] {wulff} the key I have missed in my trading is triggers

[11:06] {dino} better than missing stops wuff

[11:06] {dptl} can't beleive this...didn't get my .70

[11:07] {dptl} you still in Vad?

[11:07] {Threei}  .68 - .69 was not good enough for you?

[11:07] {Threei}  half out .68

[11:07] {nemo} relativel thin sto dp

[11:07] {Threei}  stop under .50

[11:07] {nemo} sto=stock

[11:07] {dptl} yeah i guess...too greedy

[11:07] {Threei}  wulff... I have this impression you skipped on reading a bit... :)

[11:08] {tomg} ty nflx vad

[11:08] {Threei}  tom :)

[11:08] {magoo} i briefed him with necessary info vad

[11:08] {Threei}  trigger is one of the key elements of setup structure

[11:08] {Threei}  it's built on certain priinciples

[11:08] {Threei}  dfined by certain criteria

[11:09] {wulff} no I understand that.....I use it....but to comprehend it...

[11:09] {Threei}  there is reason why, while a stock let's say at .50, I name a trigger .55

[11:09] {Threei}  because from pure price p;oint of view it would seem logical to take it at cheaper price

[11:09] {Threei}  which would be very wrong

[11:09] {Threei}  somehow though this is the question I get quite often...

[11:10] {Threei}  why would you wait for highr price to enter if you can get in cheaper?

[11:10] {nemo} because the stock hasn't proved it's intention

[11:10] {nemo} as much as it can be proved...that is

[11:11] {Threei}  yes... and because trigger tends to do something for a stock

[11:11] {dptl} stopped

[11:11] {Threei}  like taking out that big offer injected enthusiasm

[11:11] {nemo} that big order at .55 was a roof

[11:11] {nemo} ufortunately, blew right passed my order @.56

[11:12] {nemo} slow fingers

[11:12] {pita} blew by mine at .57, how do you catch those?

[11:13] {nemo} hit an offer I guess

[11:13] {Threei}  hit buy as last shares at .55 were scrolling

[11:13] {nemo} did you market buy or specific offer?

[11:14] {Threei}  market on NFLX??

[11:14] {nemo} yes

[11:14] {Threei}  recipe for getting killed

[11:14] {nemo} that's what i thought, so I asked

[11:14] {nemo} thinking again

[11:15] {pita} how did you spot NFLX to begin with?

[11:15] {Threei}  scanner

[11:15] {Threei}  ok, this is funny:

[11:15] {Threei}  MACE

[11:15] {Threei}  SELLING TEXAS CAR WASH FOR $3.2M

[11:15] {magoo} thats a blast from past

[11:15] {Threei}  as long as I remember, this one had car washes and participated in national security,

[11:16] {Threei}  and made money by selling this or that car wash here and there

[11:16] {nemo} shoulda' had bigger stops in WFC, another one just heading down

[11:17] {nemo} Guess that means it will turn right here

[11:17] {dino} memories

[11:17] {dino} cb stop to .18

[11:17] {wulff} dumb question...but all or most of your trades come from triggers i guess

[11:18] {Threei}  sorry, not sure I understand

[11:18] {Threei}  trades don't come from triggers

[11:18] {Threei}  trades come from setups

[11:18] {wulff} I have some times said "buy here..."

[11:18] {Threei}  trigger is part of setup

[11:18] {wulff} instead of defing the trade.

[11:19] {wulff} parameters

[11:20] {wulff} if i chase a breakout, quick buy it....uppp tooo late

[11:21] {Threei}  ok, I have to ask

[11:21] {Threei}  TTR? MPP?

[11:21] {dino} in bears i wait, bulls i chase, careful wuff, not sure out of bear yet

[11:21] {wulff} yes yes

[11:22] {Threei}  okay... don't let it stay theory then

[11:22] {Threei}  apply

[11:22] {wulff} but I am saying to understand and to implement are different

[11:22] {Threei}  maybe re-read as a refreshment,

[11:22] {Threei}  it makes a world of difference when you read something, then paarticipate in action,

[11:22] {Threei}  then go back and reread with new experience under the belt

[11:23] {Threei}  often start seeing things that escalped on a first read

[11:23] {wulff} yes. rereading Douglas book, all new

[11:23] {Threei}  which of them?

[11:23] {wulff} second

[11:24] {Threei}  yup... I like it more than first

[11:24] {wulff} great read

[11:24] {nemo} Title please?

[11:24] {Threei}  trading in the zone

[11:25] {Threei}  http://www.realitytrader.com/books.html

[11:25] {nemo} ty

[11:25] {dptl} nflx..i turned winner into the looser...

06[11:25] * dptl slaps dptl around a bit with a large trout

[11:27] {Threei}  I did the same with WFC short earlier do... if it's any consolation :)

[11:27] {nemo} me too

[11:29] {dino} "zone" book, best thing i learned, anything can happen

[11:31] {dino} itg tear down that wall .50

[11:32] {dino} can't do it

[11:34] {ese} see u all in about an hour.....don't do anything rash while i'm gone

[11:34] {Threei}  quick everyone

[11:34] {Threei}  let's buy something while ese is away

[11:34] {dino} ok es

[11:35] {ese} too funny....awe schucks you guys

[11:36] {Threei}  TXT

[11:36] {Threei}  EXCHANGE HAS CONTACTED THE COMPANY GIVEN RECENT STOCK PRICE BEHAVIOR

[11:36] {Threei}  recipe for halt and investigation

[11:37] {dino} psys spike and back

[11:38] {dino} stay away

[11:38] {magoo} do not mention that word

[11:41] {pita} know when to fold 'em - later all, see you Monday

[11:41] {Threei}  FAZ is trying to break out of the range

[11:41] {Threei}  take care pita

[11:42] {nemo} F short below .15?

[11:42] {dino} have fun pita

[11:43] {Threei}  with stop above .20... why not

[11:44] {dptl} not available

[11:44] {nemo} not available bummer

[11:44] {Threei}  if went for FAZ break, look to get out or partial above .30

[11:45] {dino} itg stop to .39

[11:47] {nemo} RIMM break of .60?

[11:47] {nemo} 63 I meant

[11:48] {Threei}  nah

[11:49] {Threei}  NYSE CEO EXPECTS SEC TO FINALIZE SHORT SALE RULES IN 3 OR 4 MONTHS

[11:49] {dino} the speed at which these guys work, lol

[11:49] {Threei}  yeah, lol

[11:53] {dino} itg stopped +.05

[12:02] {Threei}  GM

[12:02] {Threei}  BONDHOLDERS MAY GET 10-20% IN GM STOCK - CNBC

[12:02] {Threei}  {F}

[12:03] {Threei}  and then wipe common in bankruptcy?

[12:03] {Threei}  I like the plan

[12:05] {Threei}  can't get into rythm today

[12:05] {Threei}  looked at WFC .65 break after it established itself above .50, couldn't get a feel for it

[12:06] {dino} wmt hl l .30

[12:07] {dino} stop is .98

[12:09] {vinod} look at SRS

[12:10] {Threei}  what am I looking for?

[12:11] {vinod} losed to 52/wk low again

[12:12] {Threei}  looks bouncy with .50 break

[12:12] {Threei}  just a scalp most likely

[12:12] {Threei}  if stays above .30

[12:13] {Threei}  invalidated

[12:13] {nemo} is SRE the long vinod?

[12:13] {Threei}  WFC

[12:13] {Threei}  maybe setting up for short again

[12:14] {vinod} no, but watching . i made good with it few time

[12:15] {Threei}  .90 break if stays below 18

[12:15] {dptl} in

[12:16] {vinod} in

[12:18] {Threei}  darn thing is going to shake us out again?

[12:20] {magoo} i like it long{sigh..hatye goin against ya}

[12:20] {Threei}  feel free

[12:21] {Threei}  like I said, can't get into rythm today

[12:21] {magoo} i took .85 when it was eaten up

[12:21] {vinod} stop out

[12:21] {magoo} was big resisistance

[12:21] {Threei}  not yet vinod

[12:21] {Threei}  18 still holding

[12:22] {vinod} still holding yes

[12:23] {magoo} out .97

[12:23] {magoo} ill reload

[12:23] {magoo} or short

[12:23] {magoo} or watch

[12:23] {Threei}  or drink

[12:23] {magoo} ah:)

[12:25] {dino} lorl

[12:26] {nemo} mmmmhhhh...is WFC turning into a JBE?

[12:26] {Threei}  yes

[12:27] {nemo} so cover @18 break and go long?

[12:27] {Threei}  cover yes

[12:27] {Threei}  long, I wouldn't

[12:27] {vinod} i have it 18.05 to cover still holding

[12:28] {nemo} I've got the spike @ 18.06

[12:28] {Threei}  this volume dry-up during consolidation doesn't instill confidence in long on break

[12:29] {nemo} like flossing with barbed wire this one

[12:30] {magoo} like using razor blades to swab ears

[12:30] {dino} pins and needles, needles and pins

[12:30] {dino} the happy man is the man that grins, honeymooners

[12:30] {nemo} 60 grit for tp

[12:31] {nemo} lubricant please, this is hurting

[12:31] {dino} gmcr

[12:32] {vinod} nemo some how i still have it you said spike @18.06

[12:32] {dptl} i am still in

[12:32] {dino} wow, judas priest on

[12:32] {nemo} @12:10 vinod

[12:33] {nemo} This is like a WWI trench battle....sheesh

[12:33] {nemo} stopped

[12:33] {dptl} ok stopped now

[12:33] {vinod} o.k i put order around that time to cover it

[12:33] {magoo} like using sandpaper as toilet paper

[12:34] {vinod} now i got stoped

[12:34] {nemo} here comes the volume, jusst had to break the logjam

[12:35] {vinod} fidelity is a quite different need to change broker

[12:37] {vinod} have a nice long weekend to all see you monday

[12:38] {Threei}  have a good one vinod

[12:38] {dino} isrg

[12:38] {dino} cya vin

[12:40] {dino} algt

[12:43] {magoo} sheesh..and that used to be magoo

[12:44] {Threei}  that?

[12:44] {magoo} the jfj kickout

[12:47] {Threei}  WFC, I couldn't be wrong more consistently on one stock throughout the day eh?

[12:47] {Threei}  but this guy is so correct, it's nauseating:

[12:47] {Threei}  WHITE HOUSE ECON ADVISOR SUMMERS: US ECONOMY IS STILL FACING "SUBSTANTIAL DOWNDRAFTS"

[12:48] {nemo} yeah but...

[12:48] {nemo} Feds Stern Says U.S. Recovery Should Not Be Too Far Off 

[12:57] {Threei}  sheesh... look at NFLX

[12:59] {Threei}  I really want to short WFC here but I have already been wrong on it 2 and half times

[13:00] {nemo} look at FAZ  bottoming?  FAS topping?

[13:00] {nemo} even Vinod's SRS looks like it's bottoming

[13:01] {Threei}  most liekly, yes

[13:01] {Threei}  .75 break on FAZ is a trigger

[13:01] {ese} just like a bad dream.......I have returned

[13:01] {Threei}  unlike bad dream, we are glad to see you

[13:02] {Threei}  well... at least we pretend well

[13:02] {Threei}  'cause as soon as I said it, I got three dcc screaming "what are you doing , now he will never leave"

[13:02] {ese} tks.....

[13:03] {Threei}  wait... all three were from magoo

[13:03] {Threei}  so consider it one dcc

[13:03] {Threei}  FAZ modified... entry off .60 with stop right under

[13:03] {Threei}  .66 will be trigger

[13:04] {ese} too funny

[13:04] {nemo} although got strengthe in ndx and spx

[13:04] {Threei}  lower odds of working, tighter stop

[13:05] {Threei}  FED'S HOENIG: FEW BANKS WILL NEED MORE INTERVENTION, BELIEVES NO BANK IS TOO BIG TO FAIL

[13:05] {Threei}  - Believes it is possible to unwind very large financial institutions.

[13:05] {Threei}  - Rejects the idea that large unstable banks need to be nationalized.

[13:05] {Threei}  why didn't we hear from him all this time

[13:05] {Threei}  invalidated

[13:06] {nemo} WFC building triangle again?

[13:06] {nemo} volume dropping off

[13:07] {Threei}  I don't know what to say about WFC

[13:07] {nemo} yeah, it's been lying to you

[13:08] {Threei}  BAC 8.50 break in retrospect...

[13:08] {Threei}  sigh

[13:09] {dptl} long from.08 wfc..half out .25 holding rest all the way to 19

06[13:09] * Threei slaps dptl around a bit with a large roll of cash

[13:09] {_jfjf64} hello all

[13:09] {dptl} yeah..more like trying to get back into green :)

[13:09] {ese} L DELL .95

[13:10] {Threei}  hi jfjf, welcome

[13:10] {Threei}  look at BAC go

[13:13] {dptl} out some more .65

[13:14] {dptl} stop under .40

[13:15] {ese} grrrrrrrrrrrr

06[13:16] * magoo slaps laserdave around a bit with a large trout

[13:18] {ese} man the guy just can't win.......

[13:18] {Threei}  believe it or not... but WFC is setting up short again, lol

[13:18] {Threei}  if stays under .70

[13:19] {Threei}  I'll try .60 breakdown

[13:19] {Threei}  and if I am wrong this time on it, I promise to never play it again

[13:20] {nemo} I'll watch

[13:20] {Threei}  till Monday at least

[13:20] {dptl} stop to under .50 

[13:21] {nemo} oh yeah, dp still long

[13:21] {dptl} yep

[13:21] {Threei}  sigh

[13:21] {dino} wmt stop to b/e stuck

[13:21] {dptl} offering 19.09

[13:22] {nemo} mean dp

[13:22] {nemo} RIMM blasted off

[13:24] {Threei}  DJI is up 200 points, but intraday part of it is just 60

[13:24] {nemo} volume on nas below average and S&P average up on Dow

[13:25] {Threei}  this makes sense

[13:25] {Threei}  since finanacials in in the center of attnetion today, and NASDAQ is light on those

[13:25] {dino} qsii

[13:27] {dptl} all out .46 wfc

[13:27] {Threei}  good job

[13:27] {dptl} ty

[13:30] {_jfjf64} nice read wfc

[13:31] {larisa} have a nice long weekend all :)

[13:31] {Threei}  take care larisa, have a good one

[13:33] {Threei}  frikin thing

[13:33] {Threei}  finally

[13:33] {Threei}  out .35

[13:33] {nemo} what what what

[13:33] {nemo} you shorted wfc?

[13:33] {Threei}  held 1 cent under the stop level

[13:34] {nemo} where'd you enter?

[13:34] {Threei}  I was already preparing all the swearing I know

[13:34] {Threei}  .59

[13:34] {nemo} cool

[13:34] {Threei}  [13:19] {Threei} I'll try .60 breakdown

[13:35] {nemo} memory of a moth

[13:35] {Threei}  welcome to the club

[13:35] {nemo} bacterium

[13:35] {Threei}  in case you didn't know but for some strange reason wanted to,

[13:35] {nemo} RIMM vad

[13:35] {nemo} missed

[13:35] {Threei}  fish has short term memory span 18 seconds

[13:36] {Threei}  what on RIMM?

[13:36] {nemo} short @ .40

[13:36] {Threei}  I see no decent setups

[13:36] {Threei}  naaah

[13:36] {Threei}  that's a recipe for shakeout on RIMM

[13:37] {Threei}  if you want more or less decently looking short on it, let it bounce,

[13:37] {Threei}  see if you can get it around .50

[13:37] {Threei}  and keep atop just above day high

[13:37] {Threei}  stop

[13:38] {Threei}  if it just breaks like this and continues lower, let it go

[13:38] {Threei}  this kind of "on the go" breaks will produce too high percentage of shakeouts

[13:42] {nemo} wfc if it breaks .30?

[13:42] {Threei}  let's see where it tops out on this bounce

[13:42] {Threei}  if stop is reasonable, yes

[13:42] {dino} wmt to .52

[13:44] {dino} to .60

[13:44] {ese} am outta here have a great long weekend all....

[13:44] {Threei}  take care ese, have a good one

[13:44] {dino} cya es

[13:45] {dino} make it .64

[13:46] {dino} to .68

[13:47] {dino} out wmt .69, +.39

[13:47] {nemo} bone for the dinosaur

[13:47] {Threei}  BAC...

[13:47] {nemo} break .00

[13:48] {Threei}  9 break if holding above .90 or so...

[13:48] {dptl} in

[13:48] {dino} lol nemo

[13:49] {nemo} you're having a pretty good day dino, you desrve it

[13:49] {magoo} in cab

[13:49] {magoo} bac

[13:50] {dino} just lucky bro

[13:50] {Threei}  watching RIMM for double top

[13:50] {nemo} yeah, you're lucky almost every day

[13:51] {Threei}  .50 break short if stays under .60

[13:52] {Threei}  BAC stalled for too long for my taste

[13:52] {nemo} out

[13:53] {Threei}  not out yet but moved stop to .98

[13:53] {Threei}  very stingy as dino says

[13:53] {nemo} oops

[13:53] {dino} :)

[13:54] {dino} sm l apol .00

[13:55] {magoo} in apol w/ding dong

[13:56] {nemo} what's a ding dong?

[13:56] {dino} nvec going for yesterdays gap?

[13:56] {nemo} Dino, I get it

[13:58] {magoo} out 9 bac

[13:58] {magoo} no ,like

[13:59] {_jfjf64} rimm?

[13:59] {Threei}  valid setup, IMO

[13:59] {Threei}  .50 break short, stop above .60

[14:00] {dino} qsii animal

[14:01] {dptl} in rimm

[14:02] {nemo} missed @.49

[14:03] {dptl} stopped bac

[14:04] {dptl} just can't stay up today

[14:04] {Threei}  ummm

[14:04] {nemo} bac?

[14:04] {dptl} me

[14:04] {dino} they have pills for that

[14:05] {dptl} lol

[14:05] {magoo} dino would know

[14:05] {nemo} lol

[14:05] {nemo} mags nice

[14:05] {Threei}  dino... I applied all thinkable efforts to let it go... but no, you just had to say it :)

[14:06] {dino} don't know why but had to do it

[14:06] {nemo} someone sticks their chin out like that gotta' give them the cross

[14:07] {Threei}  FED'S HOENIG: SEE ROOM TO REVISIT MARK TO MARKET ACCOUNTING ISSUES

[14:07] {nemo} stopped rimm

[14:08] {Threei}  that sharp 10 cents drop was all it could do

[14:08] {nemo} glad I stopped

[14:08] {dptl} stopped rimm

[14:08] {Threei}  some days you just have to go to sleep early

[14:08] {Threei}  look at BAC

[14:09] {dino} +300

[14:09] {dino} dji

[14:11] {nemo} rimm probably going to 64 close the gap

[14:14] {dino} apol stopped -.23

[14:17] {dino} nvec gap filled

[14:18] {dino} axys sm s ave .50

[14:18] {dino} nvec blood

[14:29] {dino} axys bstop is .86

[14:30] {Threei}  GM

[14:30] {Threei}  PREPARING NEW OFFER FOR BONDHOLDERS - WSJ CITES SOURCES

[14:30] {Threei}  offer of condolences?

[14:30] {Threei}  FED'S HOENIG: FED HAS TO ASK WHETHER IT IS FACING A "FALSE DAWN" - Q&A

[14:30] {Threei}  false dawn... that's new

[14:31] {nemo} poetic

[14:36] {dino} cb l .20

[14:36] {Threei}  USO

[14:36] {Threei}  spike into .80, now retreat to .60 area

[14:36] {Threei}  should be a scalp on a long side soon

[14:39] {dptl} .60?

[14:40] {magoo} .59

[14:40] {nemo} in or out mags?

[14:41] {Threei}  I kind of hoped to get it closer to .40... but with my tioday's timing...

[14:41] {magoo} in

[14:41] {dptl} in.61

[14:42] {dino} axys stopped

06[14:47] * Threei kicks USO in the rear

[14:47] {magoo} out .69 boss..lucky

[14:48] {Threei}  US GOVT ANNOUNCES PLANS TO REPORTEDLY PURCHASE IN EXCESS OF 17,500 FUEL EFFICIENT VEHICLES FROM GM, CHRYSLER, AND FORD BY JUNE 1

[14:49] {Threei}  sure thing

[14:49] {dino} they we plan to hire people to drive them

[14:49] {nemo} WFC just launched out of a JBE on the 5 minute chart

[14:49] {Threei}  while you are at it, why don't you purchase anything produced by any troubled company

[14:49] {dino} cb stop to .39

[14:50] {dino} well, nobody else buys those

[14:50] {Threei}  and just become major customer

[14:50] {Threei}  buy houses

[14:50] {Threei}  book airtickets

[14:50] {Threei}  book hotels

[14:50] {nemo} well they have...they gave the banks money so they don't have to sell the foreclosed homes

[14:51] {Threei}  oh, and btw, we are loading up on stocks here, will you purchase them from us at double prices?

[14:52] {dino} out cb .39, +.19

[14:52] {Threei}  NQ is locked in 10 points range from 10am

[14:52] {dino} itg l .65

[14:53] {Threei}  finally USO

[14:53] {Threei}  dp

[14:53] {Threei}  if you lose on this trade I am not speaking with you till Monday

[14:53] {magoo} vad thoughts last hour?

[14:53] {Threei}  and first 20 minutes of Monday

[14:54] {Threei}  mags... I am afraid you don't want to know my thoughts today

[14:54] {magoo} everyday

[14:54] {Threei}  I am not doing well in such tight ranges

[14:54] {Threei}  there is just no room for anything

06[14:55] * Threei slaps dptl around a bit with a large trout

[14:59] {dino} same here 3i, average down

[14:59] {Threei}  can you believe FAZ?

[14:59] {dptl} oh ..am out +.10 uso ty

[14:59] {nemo} cross on Tuesday

[14:59] {Threei}  lol

[14:59] {Threei}  good morning dp

[15:00] {Threei}  why Tuesday?

[15:00] {nemo} why not?

[15:00] {Threei}  well, we have Monday

[15:00] {Threei}  and Wed

[15:00] {nemo} pullback on financials Monday

[15:00] {Threei}  how did you pick Tuesday?

[15:00] {nemo} day after Monday

[15:00] {Threei}  ok... makes sense

[15:00] {dino} out itg +.11

[15:01] {nemo} that means it'll be Wednesday

[15:02] {Threei}  I would think, FAZ has a room to about 13

[15:02] {Threei}  finding entry on it is not a small feat

[15:06] {fernp} I go out for dinner with the family. Have a great and nice weekend all

[15:06] {fernp} see you on monday

[15:06] {Threei}  have a great one fern

[15:06] {nemo} P&Q

[15:07] {dino} later fernp

[15:07] {Threei}  cnaging my mind

[15:07] {Threei}  FAZ goes further down, WFC breaks 19 and goes up

[15:07] {Threei}  just don't trade on any of that

[15:07] {nemo} that's what I was thinking...oh oh

[15:08] {nemo} I was thinking that too

[15:08] {dptl} why not?

[15:08] {Threei}  or do

[15:08] {Threei}  here comes FAZ breakdown

[15:08] {nemo} BAC

[15:09] {Threei}  FITCH: INCLUSION OF LIFE INSURERS IN TARP PROGRAM IS A POSITIVE FOR FINANCIAL STRENGTH

[15:09] {Threei}  {MET PRU GNW}

[15:10] {Threei}  if you shorted FAZ, 1:1 is here

[15:10] {dptl} l wfc

[15:12] {nemo} oops, guess break of 19 was too obvious

[15:12] {Threei}  so were all its previous breaks

[15:12] {dptl} stopped............i well that would be it...can't loose anymore

[15:13] {nemo} yeah I'm limit down today

[15:13] {Threei}  you skip all winning trades or what?

[15:13] {Threei}  it's not like they all stops

[15:13] {dptl} me?

[15:14] {Threei}  no

[15:14] {nemo} no me...I picked the wrong ones and entered that WFC short late and got caught

[15:18] {Threei}  jeez F'AZ

[15:20] {vint} vad- when mkt gaps up or down significantly..looks like fewer set ups for daytrades

[15:20] {dino} indeed vin

[15:20] {Threei}  most often that's the case

[15:21] {dino} gap up opens and stays are my toughest days

[15:22] {vint} hopfully swing traders are happy on such days at least

[15:24] {Threei}  look at the ranges

[15:24] {Threei}  NQ 10 points whole day

[15:24] {dino} cb l .20

[15:24] {Threei}  DJI about 40

[15:25] {vint} right..it is very narrow one

[15:26] {dino} out .35, +.15

[15:30] {dino} chtt l .27

[15:35] {magoo} rsy'pkstrkkk'

[15:35] {magoo} BAC

[15:35] {magoo} BAC

[15:35] {magoo} huge 

[15:35] {magoo} WFC

[15:35] {magoo} WFC

[15:35] {Threei}  massive squeze on whole sector

[15:36] {nemo} shorts getting out on Friday

[15:36] {magoo} BAC 10 coming

[15:36] {magoo} !)

[15:36] {magoo} 10

[15:36] {magoo} j,AD,bznk,

[15:37] {Threei}  drinking alerady mags?

[15:37] {nemo} Interesting....WFC preannounced...why...other banks gonna' have bad quarters?

[15:37] {magoo} iu got so soooomany onnnnnnnnnnnnnnlkhsfHLK

[15:38] {nemo} RIMM bolted too

[15:39] {dino} chaos

[15:39] {magoo} C

[15:39] {magoo} C

[15:39] {vint} FAZ will be penny stock or what? 35% dn,FAS 35% up

[15:40] {magoo} huge imbalances tp BUY WFC BACy

[15:40] {magoo} BAC

[15:41] {dino} ge l .50

[15:43] {Threei}  in FAZ .54 for a scalp

[15:44] {Threei}  half out .61

[15:44] {nemo} dodging bullets

[15:44] {Threei}  out balance... wash

[15:45] {Threei}  lol... real chaos

[15:47] {Threei}  in .37

[15:47] {Threei}  out .54

[15:47] {Threei}  this is not even funny... can't type fast enough

[15:47] {dino} cb .99 l

[15:50] {dino} out cb .23, +.23

[15:50] {Threei}  FAZ, nemo... still thinking Tuesday?? :)

[15:50] {magoo} me either type 

[15:50] {nemo} yeah

[15:52] {dino} out chtt .33, +.06

[15:52] {Threei}  heck, at sch rate if had 1 more hoyur today, we wouldn't even have to wait till Monday for them to meet

[15:52] {magoo} ahhhhhhhhhhhhhhhhhhhhh

[15:52] {magoo} GSSSSSSSSSSSSSSSS

[15:52] {Threei}  look at this bloody murder

[15:54] {Threei}  a few FAZ scalps on bounces took to green

[15:54] {Threei}  but jeez

[15:54] {dino} itg .20 l

[15:55] {magoo} i in out GS BAC WFC like a million times'

[15:55] {dino} out .22, +.02

[15:55] {dino} bad entry

[15:56] {nemo} gnite guys

[15:58] {Threei}  can you believe this?

[15:58] {Threei}  undr 10.50

[15:59] {Threei}  less than 1 dollar between FAS and FAZ now

[15:59] {Threei}  oops sorry

[15:59] {Threei}  looked at BAC instead of FAS

[16:00] {Threei}  less than 2

[16:00] {dptl} have a good weekend all

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a great relaxing long weekend

[16:00] {Threei}  see you all on Monday

[16:00] {magoo} SORRTY everyone

[16:01] {magoo} i recognized that

[16:01] {magoo} and tyried to alert u

[16:01] {vint} thanks Vad, good week end all

[16:01] {magoo} but hey...i did like 60k shares in hour

[16:01] {dino} busy last hour

[16:01] {dino} happy holidays all

Apr 08 2009

One of those "can do no wrong" days. 8 calls, 8 wins. Started out with two shorts on HIG and RIMM, switched to longs later on, then to shorting again; added plays on AA and USO. 

Session Time: Wed Apr 08 00:00:00 2009

[08:12] {Threei}  WFC... if can take that 15 offer, interesting

[08:13] {Threei}  TM

[08:13] {Threei}  US CHIEF: GUT FEELING THAT BY END OF 2009 WILL GET ABOVE 10M UNITS - CNBC

[08:13] {Threei}  SEES SECOND HALF OF 2009 BETTER THAN FIRST HALF

[08:14] {nemo} Is this like the "recovery will start in the 3rd quarter" from last year?

[08:14] {Threei}  well... who knows how good his gut is

[08:14] {larisa} good morning :)

[08:15] {Threei}  larisa :)

[08:15] {larisa} threei :)

[08:18] {Threei}  if feel like little premarket gambling, 15 break worth a try

[08:23] {cosmo} another day; another dollar... i think

[08:27] {Threei}  F is trying

[08:28] {Threei}  half out WFC .15

[08:32] {Threei}  wow HUG

[08:32] {Threei}  HIG

[08:32] {Threei}  (US) Treasury plans to extend TARP to life insurance companies - WSJ

[08:32] {Threei}  - Announcement is expected within the next several days.

[08:33] {nemo} wtf?

[08:33] {Threei}  I'll rephrase, cosmo... another day, another TARP

[08:36] {magoo} morning

[08:36] {Threei}  magoo

[08:37] {nemo} mags

[08:45] {cosmo} another tarp; another trap ...imo

[08:58] {Threei}  RBC ANALYST: ARGENTINE GOVT MAY SEEK TO RESOLVE ITS DEFAULT DEBT

[08:59] {fernp} Hello everybody

[08:59] {Threei}  fern :)

[09:03] {dptl} good morning

[09:03] {Threei}  dp :)

[09:04] {Threei}  HIG trading above 10 is fairly signifcant break

[09:04] {Threei}  I wish it weren't for a news-caused gap though

[09:05] {Threei}  BALTIC DRY BULK INDEX -0.2%, 21ST STRAIGHT DECLINE

[09:05] {Threei}  21st? I guess it means everyone stopped counting like 11 declines ago

[09:05] {Threei}  DRYS certainly did

[09:06] {vint} good morning all

[09:06] {Threei}  vint :)

[09:10] {dino} gm all

[09:10] {Threei}  dino :)

[09:11] {ese} morning

[09:11] {Threei}  ese :)

[09:12] {Threei}  STT doesn't participate in the party

[09:14] {ese} so whats the good news.....tick up +854 trin at -.51

[09:14] {Threei}  nothing really outstanding

[09:14] {Threei}  TARP for insurance companies is what propped HIG up

[09:15] {magoo} met pru also

[09:15] {ese} ahhhh 

[09:15] {Threei}  AA moving up on crappy report is interesting though

[09:15] {Threei}  this is not the kind of behavior you expect in anything but bull market

[09:16] {Threei}  (US) US TREASURY FORMALLY LAUNCHES $5B AUTO PARTS SUPPLIER SUPPORT PROGRAM, TO BE ADMINISTERED BY GM AND CHRYSLER

[09:16] {Threei}  - Calls on interested companies to contact GM and Chrysler.{GM F BWA AXL VC ALV LEA ARM JCI MGA}

[09:17] {nemo} yeah, market feels down  Good Friday coming no volume yesterday

[09:18] {cosmo} some gave up the markets for lent ...maybe

[09:18] {Threei}  stocks of interest WFC, HIG

[09:19] {vinod} good morning

[09:19] {Threei}  vinod :)

[09:19] {ese} vino

[09:20] {nemo} vinod:)  go to sox game yesterday?

[09:20] {Threei}  open breaks didn't work much last few days

[09:20] {vinod} no,had other plan

[09:20] {Threei}  so let's wait for failure and pullback

[09:21] {ese} Ok lookin for help......yesterday was a down market I should have gone short on a few but didn't,,,,,,,can't seem to get a mind set to do it...go short.  I like to play dinos capitulations but still can't seem to short......any suggestions

[09:21] {Threei}  yes

[09:22] {pita} morning everyone

[09:22] {Threei}  just not a quick topic, let's try and do it during lunch quiet

[09:22] {Threei}  pita :)

[09:22] {Threei}  actually... wait a sec

[09:23] {Threei}  I have a draft write-up for a future blog post on this

[09:23] {Threei}  let me post it, sorry for roguh edges

[09:23] {ese} Ok........will ask you on another day ....have a concert today at 12:00 with my High school rhythm and blues band

[09:23] {Threei}  psychological obstacles for shorting

[09:23] {nemo} ese dcc

[09:23] {Threei}  It's a kind of transitional pain as thinking shifts from investor to trader type. We are conditioned by media, by market observers and commentators into assigning the "grades" to the price moves. Up is good, down is bad. It's normal thinking for a passive investor who doesn't manage his money. Pension plans, mutual funds, growth funds, etc etc - all this stuff is long oriented

[09:24] {Threei}  "Market in a long run goes up" refrain is long biased... "Invest your money so it grows" - long bias. Any "hot tip" is always good news coming - FDA approval, good earnings, takeover.

[09:24] {Threei}  Short selling is being called a "sophisticated tactic" in popular articles (even though all the sophistication in fact comes to a simple change of the order of execution - going long you buy, then sell and profit from higher price while going short you sell, then buy and profit from lower price - how "sophisticated" is that, really).

[09:24] {Threei}  On top of that, there is an emotional quality assigned to short selling - it's being often questioned or labeled as something evilish, blamed with price drops, sometimes called unpatriotic and all this bs.

[09:24] {vinod}  psychological -yes, i never shorted and like to learn it

[09:24] {Threei}  Try to envision the price movement as left-right instead of up-down - it takes out this element of good/bad and helps break down stereotypes. In a while even this simple trick won't be needed, you won't feel any real difference between going long or short.

[09:25] {Threei}  Think of market cycles as natural breathing.

[09:25] {ese} like that thought

[09:25] {Threei}  Think of up and down cycles as notrmal developments,

[09:25] {Threei}  avoiding thinking in good or bad terms.

[09:26] {Threei}  Bear markets have their reasons and purposes.

[09:26] {Threei}  Those are just as useful and needed as bull's ones.

[09:26] {Threei}  As your mindset accepts downward moves with no emotional bias, shorting becomes natural part of your trading.

[09:27] {ese} I think it's the stigma of more risk that seems to get me...

[09:27] {Threei}  well... could be true for long term holdings

[09:27] {Threei}  in terms of intraday trading with normal stops, not really

[09:28] {ese} yes...am gonna have to go at this with small 100 shs lots till i'm used to it

[09:28] {Threei}  sure... as with any other new addition to your trading style,

[09:28] {Threei}  follow MPP procedure

[09:29] {Threei}  it's designed just for this

[09:29] {ese} tks will do

[09:29] {patience} good morning RT  :)

[09:29] {Threei}  patience :)

[09:30] {ese} morning patience

[09:31] {patience} hi ese  :)

[09:33] {Threei}  HIG not pulling back much

[09:33] {wulff} 65 was it

[09:35] {magoo} ms crushed

[09:35] {Threei}  will break 11 now

[09:35] {dino} es, media brainwashes shorts are "evil", do what i do, don't trust what you hear, then it is easy

[09:36] {nemo} gs

[09:36] {ese} l sbux

[09:36] {ese} .41

[09:37] {wulff} WFC

[09:39] {Threei} Long Setup:  AA  8.17

[09:39] {Threei}  if holding above 8 for a day trade

[09:40] {Threei}  above 8.10 for a scalp

[09:40] {dino} hmmm, they save the insurers and thats all they can get the market to move?

[09:40] {ese} tks dino.....

[09:41] {dino} apol overnight out flat

[09:42] {dino} esi wants 100 strike

[09:42] {ese} sbux = sloth

[09:42] {dino} lol

[09:42] {ese} ah finally

[09:44] {Threei}  HIG will never stop

[09:44] {Threei}  it will just go and go

[09:44] {Threei}  to the moon

[09:46] {magoo} i could stop it

[09:46] {dino} sm l pru .00

[09:48] {ese} out sbux .51 +.10 single lot

[09:49] {dino} pru stop is lod

[09:50] {Threei}  04/08/09 09:44am

[09:50] {Threei}  [TCK] Teck Cominco Hearing takeover chatter circulating

[09:50] {Threei}  - BHP rumored as a potential bidder

[09:52] {wulff} half hearted rally

[09:52] {Threei}  yeah

[09:52] {Threei}  not really delighted

[09:52] {wulff} kick it in the..

[09:53] {dino} pru stopped

[09:53] {dino} -.42

[09:53] {Threei}  guess who justr can't shut up

[09:53] {wulff} 11 hig?

[09:53] {Threei}  FORMER FED CHAIR GREENSPAN: ECONOMY MAY NOT GROW AS QUICKLY AS IN THE PAST

[09:53] {Threei}  starts looking like short to me, HIG

[09:54] {Threei}  PREVIEW: SEC HOLDS OPEN HEARING AND VOTE ON REINSTATING THE UPTICK RULE BETWEEN 10AM-NOON ET

[09:54] {Threei}  - During today's hearing, the Commission will consider whether to propose rules restricting short sales under certain circumstances.

[09:54] {Threei}  - According to an SEC source, hearings such as the one this morning typically run from 10 to 12ET, with the Commission voting on agenda items sequentially. It appears there's only one item on the agenda this morning (the uptick rule), so the vote is expected at the end of the hearing.

[09:54] {Threei}  - the SEC is final arbiter of the uptick rule, so if the five member commission votes in favor of reistating the uptick rule, the rule will go into effect as the SEC specifies

[09:57] {magoo} vad..we in anything?

[09:57] {Threei}  GREENSPAN: CURRENT CRISIS SHOWS THE CONNECTIVITY OF THE GLOBAL ECONOMY

[09:59] {Threei} Short Setup: HIG  .70 break

[09:59] {Threei}  stop above .85

[09:59] {dptl} in

[10:00] {magoo} in

[10:00] {Threei}  covering half .48

[10:00] {dptl} out .48 ty

[10:01] {Threei}  stop to above .70 for the balance

[10:02] {dino} itg, sivb

[10:03] {dino} scsc

[10:03] {ese} got a plan for sivb dino

[10:05] {Threei} Short Setup: RIMM  62 breakdown if stays below .10

[10:05] {dptl} in 

[10:06] {magoo} out HIG .48 Ty

[10:06] {Threei}  welcome

[10:06] {dino} not yet es

[10:07] {Threei}  RIMM over 1:1

[10:07] {dino} was feeling 14.60s, but...

[10:07] {Threei}  half or scalp

[10:07] {Threei}  yiour choice

[10:07] {Threei}  half for me

[10:07] {dino} why didn't i short esi, at 104 i said 100

[10:07] {dptl} out half

[10:08] {Threei}  calls are all for ese today so far... shorts only :)

[10:08] {Threei}  1:2 RIMM

[10:08] {ese} ya tks ...ahhhhh  really appreciate it

[10:09] {Threei}  this gap looked so tortured and feeble, shorting was main thing on my mind

[10:09] {ese} ESI would have been a good one

[10:09] {magoo} nice perspective vad

[10:09] {Threei}  HIG stop to .65

[10:10] {dptl} for rimm stop?

[10:10] {Threei}  just above b/e

[10:10] {dptl} ok ty

[10:11] {Threei}  okay HIG... want to give us something really nice?

[10:13] {vint} looks like RIMM wants to go down further

[10:13] {Threei}  stop to .55 HIG

[10:13] {dptl} out all rimm .55 ty

[10:13] {Threei}  wtg

[10:13] {Threei}  done with RIMM in full .53

[10:13] {vint} out RIMM,THX

[10:14] {Threei}  welcome guys

[10:14] {dino} esi 100s

[10:14] {dino} waiting 98.50

[10:14] {ese} L drys .55

[10:15] {Threei}  oh well HIG

[10:15] {Threei}  still nice trade but felt like had a lot more potential

[10:16] {nemo} still might...lot of air between here and yesterday

[10:17] {Threei}  true

[10:17] {Threei}  just don't have the right structure for a play at this moment

[10:17] {Threei}  wow F

[10:18] {Threei}  nice spike for the cheapie

[10:18] {Threei}  argh HIG

[10:18] {Threei}  you just had to shake me out before doing that eh

[10:20] {nemo} hold nose and jump in?  NOT

[10:20] {Threei}  just waiting to see if it gives a bounce for entry

[10:21] {Threei}  does exactly what I wanted from it for the second half

[10:21] {nemo} grab parachute

[10:21] {ese} by the way lost $181 yesterday on my schw position....sold close to the end of the day for .05 loss

[10:22] {Threei}  financials sell down - in advance of that much-touted short selling rule... heh

[10:22] {Threei}  idiots

[10:22] {nemo} RIMM selling down too

[10:22] {nemo} TNA which is small caps selling down

[10:25] {dino} going to fill open gaps

[10:25] {Threei}  wait for me, I need a few minutes to cry

[10:25] {vint} why Vad?

[10:26] {Threei}  HIG...

[10:26] {nemo} HIG short

[10:26] {Threei}  pass me a tissue someone

[10:26] {nemo} maybe you nee an additive w/your coffee

[10:26] {nemo} and I wasn't thinking cream

[10:26] {vint} oh my

[10:26] {Threei}  sometimes I hate my discipline

[10:27] {vint} but in long run that is waht helps..

[10:27] {Threei}  of course

[10:27] {Threei}  but I allocate 5 minutes a week to discipline-hating

[10:27] {Threei}  done now

[10:27] {dino} 811 s/p gap last week

[10:27] {nemo} Vad look at hig, might get your chance

[10:28] {Threei}  watching it all the time

[10:28] {nemo} wouldn't a nice handle be great-too obvious thought

[10:28] {nemo} though

[10:30] {nemo} bottoming on GS

[10:30] {nemo} ?

[10:30] {Threei}  doesn't look this way to me yet

[10:31] {Threei}  wtf

[10:31] {Threei}  USO?

[10:32] {Threei}  *DOE CRUDE: +1.65M V +1.4ME; GASOLINE: +656K V -1.7ME; DISTILLATE: -3.35M V -500KE; CAPACITY UTILIZATION: 81.8% V 82%E

[10:32] {Threei}  - Distillate demand +400K bpd to 4.06M bpd

[10:32] {Threei}  - Gasoline demand -100KK bpd to 9.02M bpd

[10:32] {ese} you all talkin about a short for hig

[10:32] {dino} online ed's smackdown day two

[10:33] {Threei}  10 crossback on HIG was long signal, I jjust couldn't type it in time

[10:33] {Threei}  then didn't want to chase

[10:34] {Threei}  .40 - .50 zone is nearest resistance on HIG

[10:35] {ese} capitulation sell off in Drys....should be heading up from here

[10:35] {Threei}  it's 15 cents uop from the bottom...

[10:36] {nemo} right at resistance

[10:36] {ese} ya  

[10:36] {ese} just missed it at .36

[10:37] {ese} sivb doin nothing dino....just drifting lower

[10:38] {dino} waiting 14.50, wait a zip down

[10:39] {dino} waiting on alot of stuff

[10:39] {Threei}  IDCC

[10:39] {Threei}  HEARING RENEWED TAKEOVER CHATTER CIRCULATING

[10:39] {Threei}  - Samsung rumored as potential acquirer

[10:41] {Threei}  ok, this IS funny

[10:41] {Threei}  SEC'S CASEY (R): UNCLEAR WHETHER REPEAL OF UPTICK RULE HAS LED TO RECENT ECONOMIC AND MARKET CONDITIONS OF PAST 18 MONTHS

[10:41] {Threei}  unclear?

[10:41] {nemo} duh?

[10:41] {nemo} omfg

[10:41] {Threei}  let me clear it for ya, casey

[10:41] {Threei}  It had absolutely nothing to do with that

[10:41] {nemo} nada, zip zed

[10:42] {dino} idcc sm l .20'

[10:42] {ese} this is good news for Baltic Dry Index:  Maersk increases rates on Europe-Mideast & Europe-Southeast Asia routes, effective May 1st

[10:43] {magoo} the bafoons gonna be perplexed when they reinstate uptick and we test lows 

[10:43] {ese} something must be moving out there

[10:43] {Threei}  they'll just continue witch hunt mags

[10:43] {nemo} not necessarily...might mean they're having problems covering fixed costs and need to get more out of customers

[10:43] {Threei}  day traders will be next scorge to blame

[10:43] {magoo} ban shorting altogether {again}

[10:44] {ese} in particular your board vad........were the worst...the lowest of the low.....and proud of it

[10:45] {Threei}  I bet someone in white house is thinking right about now: why don't we just close those markets and get rid of the whole headache... they don't produce anything anyway

[10:45] {magoo} HIG bounce time vad?

[10:45] {ese} we've been taught to drink vodka like theres no tomorow leading shorting out of hand and out of context......

[10:45] {nemo} could say the same thing about government

[10:45] {Threei}  a bit too high mags

[10:46] {Threei}  so, the recommendations at this point look like this:

[10:46] {Threei}  * SEC staff recommends bid test, where shorting would only be allowed on 'up-bid'

[10:46] {Threei}  fine, that's the old uptick rule

[10:46] {Threei}  * SEC staff recommends 3 circuit breakers to curb short selling

[10:46] {Threei}  * One circuit breaker would temporarily ban short selling of stock for rest of day if stock fell by 10 percent

[10:46] {Threei}  * Another circuit breaker would trigger the updated uptick rule proposal for the rest of the day for the stock

[10:46] {Threei}  * Third circuit breaker proposal would trigger the bid test for the rest of the day for the stock

[10:46] {ese} yup

[10:47] {Threei}  not sure what the difference is between second and third

[10:47] {Threei}  but whetever

[10:47] {Threei}  if it works, we will have nice bounces

[10:47] {Threei}  if it doesn't, who cares

[10:49] {dino} they are idiots

[10:49] {nemo} not necessarily, they've got to look like they're doing something to Congress

[10:49] {dino} simply put the old rule back so we can stop wasting time (not that the old rule did anything)

[10:49] {Threei}  [10:22] {Threei} idiots

[10:50] {Threei}  find your own swearing dino, I am not sharing mine

[10:50] {dino} bottom line companies were in trouble markets went down

[10:50] {Threei}  my vocabulary is too imited to share

[10:51] {dino} ok, how about dumb asses

[10:51] {Threei}  SEC'S CASEY (R): UNCLEAR WHETHER REPEAL OF UPTICK RULE HAS LED TO RECENT ECONOMIC AND MARKET CONDITIONS OF PAST 18 MONTHS

[10:51] {Threei}  - Remarks will decide on support of short sale restrictions based on regulatory principles

[10:51] {Threei}  - Concerned that any uptick rules could be challenged in court system if it is not proved that the elimination of rule drove stocks down

[10:51] {Threei}  that you can have

[10:51] {Threei}  but I do claim imbeciles

[10:52] {vint} vad- do u get news feed from yr platform? or other sources/

[10:52] {Threei}  TTN

[10:53] {Threei}  look for banner at the bottom of our homepage

[10:53] {vint} k,thx

[10:53] {dino} ews sivb not going to happen

[10:59] {Threei}  SEC"S WALTER: SUPPORTS SEEKING COMMENT, STAFF RECOMMENDATIONS ON SHORT SALE RESTRICTION OPTIONS

[10:59] {Threei}  - Notes that the market behavior and investor confidence indicates that its appropriate for consideration of action{

[10:59] {dino} itg drop

[11:00] {Threei}  huh?

[11:00] {Threei}  what did he say?

[11:00] {Threei}  I reread it three time

[11:01] {Threei}  watching HIG for topping signs

[11:01] {Threei}  .50 breakdown if stays below .60 - .65

[11:02] {magoo} im opposite opinion

[11:02] {magoo} took .30 long looking for 11

[11:03] {ese} L drys  again avg .51

[11:03] {Threei}  you can't be of opposite opinion to mine

[11:03] {Threei}  nor can be of the same

[11:03] {Threei}  I have no opiniion

[11:05] {cosmo} WBSN

[11:05] {dptl} short hig .49

[11:06] {cosmo} WBSN C&H @ 15.50

[11:07] {cosmo} ... for continuation...

[11:11] {fernp} out here TY Vad

[11:11] {Threei}  :)

[11:11] {Threei}  me too, taking little scalp

[11:11] {Threei}  lest I hurt magoo's feelings

[11:11] {magoo} just pisses me off

[11:11] {magoo} rimm yestrday too

[11:11] {Threei}  see?

[11:11] {dptl} out ty

[11:12] {Threei}  I am just scared that SEC decides to go all the way and bans selling altogether

[11:12] {Threei}  no selling... you can buy only

[11:13] {dino} idcc stop to b/e thing is stuck

[11:15] {dino} well they did that w/financials in sept/oct

[11:15] {dino} and it failed

[11:16] {Threei}  no... they banned short selling

[11:16] {Threei}  and I mean selling as such

[11:16] {Threei}  imagine... market with no offers

[11:16] {dino} itg sm l .60

[11:16] {nemo} no mention of enforcing naked short selling statutes?  interesting

[11:16] {Threei}  unlimited potential to go up

[11:16] {dino} roflol 3i

[11:17] {Threei}  problem solved

[11:17] {dino} out idcc size, +.07

[11:17] {Threei}  of course you can never realize your gain

[11:18] {Threei}  but why would they concern themselves with such insignificant details

[11:18] {larisa} sweet torture :)

[11:18] {Threei}  actually... it could work nicely

[11:18] {Threei}  here is the idea for them:

[11:19] {Threei}  everyone has pension fund contribution etc,

[11:19] {Threei}  value is increasing exponentially

[11:19] {Threei}  since there are bids only, no offers and no selling,

[11:19] {Threei}  and when you need money for whatever reason

[11:19] {Threei}  you go to the bank,

[11:19] {Threei}  show your statements

[11:19] {Threei}  and they lend you against that value as collateral.

[11:20] {Threei}  Whole new paper economy is created,

[11:20] {Threei}  easy to regulate,

[11:20] {cosmo} works great... for the loan industry

[11:20] {Threei}  total ocntrol over everything.

[11:20] {Threei}  Heck... I would make a great dictator

[11:20] {dino} sivb l .50

[11:20] {Threei}  or dictator's adviser

[11:21] {cosmo} in some undisclosed location

[11:22] {fernp} The SEC will vote Wednesday on which types of rules it intends to propose, and the public will have 60 days to comment. An SEC official said the staff is proposing to give the industry three months to implement any new rules. At that pace, any possible new rules wouldn't go into effect until autumn at the earliest.

[11:22] {fernp} DJ News

[11:22] {Threei}  lol

[11:22] {larisa} right, cosmo :) dictators get hanged on the trees often, be adviser

[11:22] {Threei}  so not only they talk nonsense, but this nonsense is irrelevant for the next few months

[11:23] {Threei}  nah larisa, I disagree

[11:23] {Threei}  advisers get hanged even more often

[11:23] {cosmo} by the dictator?

[11:23] {Threei}  because they get hanged not only by revolutioners, but by their dictators as well

[11:23] {larisa} can not win

[11:24] {Threei}  you can... be my adviser when I make a dictator

[11:24] {ese} I've been advising vad for about 2 years ...he's about to hang me??  i rest my case

[11:25] {Threei}  fair warning: I will be benevolent one from Mon to Thu

[11:25] {cosmo} i stay non-local

[11:25] {dino} out itg .93 +.33

[11:26] {larisa} gj

[11:26] {dino} ty

[11:26] {dino} slow morning for me

[11:27] {ese} yup...nice one

[11:27] {Threei}  HIG is not going up with market anymore

[11:27] {Threei}  not a good sign

[11:27] {nemo} neither is GS

[11:27] {nemo} or WFC

[11:28] {cosmo} rotation

[11:28] {dino} stopped sivb .39, -.11

[11:31] {Threei}  (US) SEC DIR OF REGULATION: SEC CANNOT JUST REINSTITUTE THE OLD UPTICK RULE AS MARKETS HAVE EVOLVED CONSIDERABLY

[11:32] {Threei}  not sure why they can't but whatever...

[11:32] {Threei}  doesn't matter either way

[11:32] {nemo} decimalization

[11:32] {cosmo} decriminalization

[11:34] {Threei}  rule existed under decimals

[11:34] {dino} ceco l .50

[11:34] {nemo} yes, but that may be one of the things he's referring too

[11:34] {cosmo} back to fractions?

[11:34] {Threei}  (US) SEC VOTES 5-0 TO RELEASE FIVE STAFF PROPOSALS ON RULES RESTRICTING SHORT SALES FOR A PUBLIC COMMENT PERIOD OF 60 DAYS

[11:35] {cosmo} RELEASE FIVE STAFF ... i say

[11:35] {Threei}  lol

[11:37] {dino} chtt sm l .20

[11:38] {Threei} Long Setup:  AA  .56 if holding above .50

[11:38] {Threei}  double bottom hunt

[11:39] {dptl} in

[11:41] {dino} dumbasses

[11:48] {fernp} i am out. TY Vad

[11:48] {Threei}  half out AA

[11:48] {Threei}  welcome

[11:48] {ese} markets going up....drys is not paricipating.....I hate it when I'm wrong

[11:48] {Threei}  4 for 4 today so far

[11:49] {ese} you mean me being wrong

[11:49] {ese} I represent tha remark!!!

[11:49] {wulff} you think AA has legs?

[11:50] {Threei}  I don't think... but thank you for this flattering assumption

[11:50] {dptl} out .66 ty

[11:50] {Threei}  I just follow the procedure

[11:50] {Threei}  not trying to be a smart ass :)

[11:51] {wulff} no way to tell I know

[11:51] {Threei}  {larisa} yeah right

[11:51] {Threei}  out in full .71

[11:51] {Threei}  5K trade

[11:52] {Threei}  dino

[11:52] {Threei}  prepare to make that evilish laughter sound

[11:52] {Threei}  TM EXEC: PLANS TO IDLE NEW US HYBRID PLANT UNTIL DEMAND RECOVERS

[11:52] {Threei}  oh yeah?

[11:52] {Threei}  but the green cars are supposed to be all rage

[11:54] {cosmo} green turns brown

[11:54] {Threei}  crap... scared to even think about what feel-gooders will do to the economy... not stellar as it is, there won't be much more that ruins when they are done

[11:55] {Threei}  those ugly Segways for two will be the only GM product left I am afraid

[11:55] {cosmo} GM should refurbish retro classics

[11:56] {cosmo} like Cuba does

[11:56] {Threei}  lol

[11:57] {dino} yeah, obama plan, make hybrids that won't sell

[11:57] {dino} these people in govt are egomaniacs

[11:57] {nemo} now Dino, they know what's best for us...

[11:57] {cosmo} yea... you can only buy

[11:59] {dino} and make cars that don't sell

[11:59] {dino} genius

[12:00] {cosmo} i would gladly buy a refurbished 1967 dodge dart

[12:00] {dino} meanwhile they drive around in limos

[12:00] {nemo} Yeah with a V8...I liked the plymouth actually

[12:01] {cosmo} hmm

[12:01] {nemo} I liked the 1970 also  plymouth was the scamp

[12:01] {dino} ragging chrysler because of jeep, if they thought about it, thats the best brand chrysler has

[12:01] {nemo} guess the market is taking the tck rumour seriously

[12:02] {cosmo} my 72 malibu .... gone forever...snif

[12:02] {Threei}  USO...

[12:02] {Threei}  risky as hell... but seems 30 break long

[12:02] {Threei}  very very discretionary trade

[12:02] {dino} ceco stopped -.13

[12:04] {dptl} in uso

[12:04] {dptl} stop under .80?

[12:04] {Threei}  yeah

[12:06] {Threei}  feels like spike is coming

[12:13] {dino} dk, lunchtime not ideal for one

[12:13] {nemo} fur crissakes, uso moves like my ex

[12:13] {dino} 12:50 usually

[12:13] {Threei}  USO is pulp

[12:14] {Threei}  EXEC: COMMITTED TO FOUR BRANDS IN RESTRUCTURING, INCLUDING CHEVROLET, GMC, BUICK AND CADILLAC

[12:14] {Threei}  - Note that on 4/7 GM was said to be in "intense, earnest" preparations for potential bankrupcy filing

[12:14] {Threei}  Buick stays?

[12:14] {Threei}  would the first I pwersonally sacked, lol

[12:15] {nemo} no more firebirds

[12:15] {cosmo} they like the holes, 3i

[12:15] {larisa} vad, you either dictator or CEO, can not be both :)

[12:15] {ese} outta here for the day all....have a good one see ya tomorow

[12:15] {Threei}  why?

[12:15] {ese} because

[12:15] {Threei}  as a dictator, can't I install myself as a CEO?

[12:15] {dino} cya es

[12:15] {Threei}  take care ese

[12:16] {dino} well they are taking over the boards now

[12:16] {dino} next coo, ceo, etc

[12:17] {cosmo} lets see some indictments

[12:19] {Threei}  here is my spike

[12:19] {Threei}  and pulp can move baby

[12:19] {Threei}  stop to under .90 btw

[12:19] {dptl} stop under .90 now?

[12:19] {dptl} oops

[12:19] {Threei}  no, stop to under .90

[12:20] {dptl} oh under .90... isee :)

[12:20] {Threei}  {larisa} you really are not trying to be smart ass... it comes to you naturally

[12:21] {larisa} sigh

[12:22] {dino} f'ing rinses today

[12:22] {wulff} RIMM recovering well

[12:23] {Threei}  HIG losing will to live

[12:23] {dino} dino's getting mad

[12:23] {wulff} Double bottom

[12:23] {dptl} .17 is hod uso

[12:23] {Threei}  was

[12:23] {Threei}  1;1

[12:24] {dptl} out .25 ty

[12:25] {Threei}  welcome

[12:25] {Threei}  5 for 5

[12:25] {Threei}  can I go home

[12:25] {Threei}  ?

[12:25] {magoo} out .26 TY

[12:25] {dptl} come over here :)

[12:26] {Threei}  hmmm

[12:26] {dino} only if you're buying the drinks

[12:26] {Threei}  I am sorry dp... I like you but I am as straight as they get

[12:27] {dptl} lol

[12:28] {Threei}  but we can be friends, right?

[12:28] {Threei}  (especially if you are buying drinks)

[12:28] {dptl} right.....lol

[12:28] {Threei}  BAC CEO: REITERATES THAT BAC TOOK MORE TARP CAPITAL THAN IT NEEDED - TV INTERVIEW

[12:29] {Threei}  and now can't get rid of it fast enough

[12:36] {Threei}  want to start trying HIG short for final descnet?

[12:36] {Threei}  can take a few papercuts

[12:37] {Threei}  10 break would be a first trigger

[12:37] {Threei}  with stop defined by the high of this bounces

[12:37] {Threei}  -s

[12:38] {nemo} that could be along ride own

[12:38] {nemo} down

[12:38] {nemo} GS Vad?

[12:38] {Threei}  don't know

[12:39] {Threei}  a bit too much of a bounce for 10 being a trigger, HIG

[12:39] {magoo} there was a huge bid at 69.95 too boss

[12:40] {nemo} RIMM showing some weakeness too...perhaps just lunchtime

[12:41] {dino} post conversion, c will have 25billion shares outstanding vs 5 billion now

[12:43] {magoo} big bounce futes'

[12:51] {dino} 12:50

[12:52] {dino} chtt stop to .70

[12:54] {dino} to .80

[12:55] {dino} out slipped .77, ave, +.57

[12:59] {Threei}  (IA) US STATE DEPT: US WILL JOIN SIX-POWER TALKS, US IS ATTEMPTING TO SERIOUSLY ENGAGE WITH IRAN TO "BREAK THE LOGJAM" IN NEGOTIATIONS OVER NUCLEAR PROGRAM

[12:59] {Threei}  {GLD USO}

[13:00] {Threei}  I have this nagging suspicion

[13:00] {Threei}  the more we are trying to engage in this kind of negotiations, the les weight we have

[13:01] {nemo} nothing is ever done

[13:01] {nemo} this has been going on for 10 years

[13:01] {dino} you know, i hate to say it, but you cannot effectively stop this nuclear stuff, technology is spreading

[13:01] {nemo} nope

[13:02] {Threei}  *TREASURY'S $35B 3-YEAR NOTE AUCTION BID-TO-COVER RATIO: 2.42 V 2.26 PRIOR AND 2.44 AVG OVER THE LAST 10 AUCTION

[13:02] {Threei}  - indirect bidders take 38.5% of competitive bids

[13:02] {Threei}  - notes draw 1.385% with % allotted at high

[13:02] {nemo} RIMM vad

[13:02] {dino} it would be like trying to tell usa same thing

[13:07] {wulff} there's your HIG vad

[13:07] {nemo} or is it a trap

[13:07] {Threei}  I don't know...I need tighter consolidation

[13:07] {nemo} C&H

[13:08] {nemo} ha a volume spike on that hammer

[13:10] {Threei}  10.05 more or less defined as resistance

[13:11] {Threei}  not very pronounced one but still

[13:12] {dptl} so .95 with 10.05 stop

[13:12] {Threei}  I actually took .99

[13:13] {Threei}  fun begins

[13:13] {nemo} in .96

[13:13] {dptl} ah missed

[13:13] {Threei}  you have 1:1 nemo

[13:13] {Threei}  and more

[13:14] {vint} what is taking them down?

[13:14] {Threei}  gravity

[13:14] {Threei}  huge gap

[13:14] {Threei}  not enough sustainability under it

[13:14] {vint} u made me laugh..thx

[13:14] {Threei}  lol

[13:14] {nemo} out 1:1 ty

[13:14] {Threei}  I actually was serious

[13:14] {Threei}  in this case it was simply natural gravity

[13:14] {vint} i'm with u

[13:15] {Threei}  6 for 6... I am so tempted to go sleep

[13:16] {magoo} u all out?

[13:16] {dino}  snda

[13:16] {Threei}  yeah

[13:16] {Threei}  lunch time, scalping only

[13:16] {Threei}  actually, I always want to go sleep... except when I hungry

[13:17] {vint} i heard some people see market direction and set ups when they are asleep

[13:18] {Threei}  totally

[13:18] {vint} it never happens w/ me

[13:18] {nemo} I used to dream in German

[13:18] {Threei}  that;s a very productive coma

[13:18] {Threei}  self-induced

[13:18] {Threei}  starts about 30 min till market opens

[13:18] {Threei}  and lasts through the whole trading day

[13:21] {vint} do we expect something significant from FOMC minutes ?

[13:21] {nemo} new program

[13:21] {vint} i guess it is at 2:00 pm

[13:21] {Threei}  hard to imagine they said anything of significance over there

[13:21] {Threei}  but, who knows

[13:22] {wulff} the sky is falling....

[13:22] {Threei}  the ways of interventionists are confusing ad unknown

[13:22] {Threei}  and unknowable

[13:35] {vinod} short ride with SRS?

[13:36] {Threei}  50/50

[13:36] {Threei}  no read really

[13:36] {vinod} thanks

[13:36] {Threei}  if I absolutely had to bet on it, it woluld rather nbe long

[13:37] {Threei}  darn thing spiked while I typed, lol

[13:39] {vint} vad, RIMM 5mt chart- is it retracing or trend reversal?

[13:39] {vinod} there should be software that take thought to screen no typing

[13:40] {Threei}  feels to me like downtrend is being established... likely to bounce a bit but overal, rather down

[13:40] {vint} thanks, Vad.

[13:41] {Threei}  there is one that takes speech to tuping vinod

[13:41] {Threei}  I even downloaded it, never got around to actually test it

[13:41] {nemo} yeah, be careful what you wish for, how do you know it won't send exactly what you're thinking to the screen

[13:42] {Threei}  lol

[13:44] {Threei}  bounce looks done

[13:45] {Threei}  on RIMM, HIG etc

[13:48] {nemo} RIMM flipped you the bird

[13:49] {nemo} You know where from the origins of the middle finger came?

[13:50] {nemo} no takers huh?

[13:50] {wulff} du hat ein vogel

[13:50] {nemo} Verstehst du nicht?

[13:50] {wulff} ein bit

[13:51] {dino}    pru l .25

[13:51] {nemo} well, arrows, in the middle ages were also called birds because of the feathers.  You sent someone the bird

[13:51] {nemo} The middle finger is the most important to an archer, because it is the last to release the arrow

[13:52] {nemo} Often, if enemy archers were caught, their middle finger was removed

[13:52] {nemo} So, it became a defiant gesture as an archer to show your enemy you still had your middle finger

[13:54] {nemo} then again, could just be an urban legend

[13:55] {dptl} .70 short hig??

[13:55] {Threei}  I would really prefer bounces instead of breakdowns

[13:55] {Threei}  too many shakeouts

[13:56] {nemo} breakdowns for later 

[13:56] {vint} u mean short on bounce? Vad

[13:56] {Threei}  right

[13:56] {dptl} ok ty...staying away

[13:56] {vint} got it,thx

[13:56] {nemo} hehehehehe

[13:56] {Threei}  it was over .80 when I said bounce seemed to be over

[13:57] {Threei}  would have ioffered much better risk/reward

[13:57] {nemo} No, absolutely

[13:57] {nemo} It's just funny to watch stock reacting as you type

[13:58] {Threei}  better yet, if we trusted the gravity, and never covered our very first short on it

[13:58] {Threei}  frikin dollar with change higher

[13:58] {nemo} what was the original stop?

[13:58] {nemo} .05?

[13:59] {Threei}  [09:59] {Alert} Threei Short Setup: HIG .70 break

[13:59] {Threei}  [09:59] {Alert} Threei stop above .85

[13:59] {Threei}  that's 10.70, to be sure, lol

[13:59] {nemo} Oh, this morning

[14:00] {Threei}  [13:58] {Threei} ... our very first short on it

[14:00] {Threei}  *MINUTES OF THE MARCH 17-18 FOMC MEETING:SAW DOWNSIDE RISKS WERE PREDOMINANT, DISCUSSED WORKING WITH TREASURY; EXPECTED GDP TO FLATTEN IN 2H09

[14:01] {Threei}  flatten as in "splat"?

[14:01] {vint} lloks like mkt responding negatively

[14:01] {Threei}  - Staff cut 2H09 and 2010 GDP forecasts

[14:01] {Threei}  - Forecasting unemployment rate 'more steeply' higher

[14:03] {Threei}  - Saw indications of some consumer stabilization yet risks remain, including a higher savings rate

[14:03] {Threei}  - Inflation risks are subdued, some see risks of deflation

[14:03] {Threei}  - Officials were split on appropriate size for asset purchases

[14:03] {nemo} risky to save money...paradoxical

[14:10] {nemo} expanding range on RIMM

[14:10] {dino} why is any of this "new"

[14:11] {fernp} covered BAC +.19 this breakdown worked :)

[14:14] {Threei}  :)

[14:15] {magoo} HIG bounce vad??

[14:15] {wulff} vad's asleep

[14:16] {Threei}  who do you think had smiled two lines ago??

[14:16] {Threei}  doesn't look this way to me mags

[14:16] {wulff} the cat

[14:17] {fernp} lol

[14:17] {Threei}  cheshir one?

[14:17] {Threei}  or how do you spell it

[14:17] {nemo} is that the farmer's daughter joke wullfy?

[14:18] {Threei}  cheshire

[14:18] {vint} RIMM under gravity? Vad

[14:18] {Threei}  whole market is, any bounce is nothing but short trigger so far

[14:18] {vint} got it thx

[14:18] {Threei}  but this pattern will exhaust itself very soon

[14:19] {Threei}  this leg down is either last one or one before last, IMO

[14:19] {vint} on 1 mt chart, right?

[14:19] {Threei}  btw, my car's grill is often called cheshire cat smile

[14:19] {Threei}  yes

[14:20] {vinod} if one before last/--how big the last will be?

[14:20] {Threei}  wow... I don't know :)

[14:20] {nemo} wfc might have bottome ndx and SPY look that way too

[14:20] {Threei}  all I can do is to try and read it real time when it comes

[14:21] {vint} probably,it was last one

[14:21] {vinod} just giving hard time

[14:21] {Threei}  join the long line :)

[14:21] {Threei}  magoo is the first

[14:22] {Threei}  OK, if you are hell-bent on looking for bottom and reversal, let's try

[14:22] {Threei}  just remember, it can take a few tries

[14:22] {Threei}  first attemot would be:

[14:22] {nemo} no, I'm not hell bent...bent maybe

[14:23] {Threei}  RIMM, 62 break if holding .85

[14:24] {Threei}  invalidated

[14:24] {Threei}  one more leg is shaping up, but it looks hesitant

[14:24] {Threei}  bottom is close

[14:25] {Threei}  HIG is holding much better this time

[14:25] {nemo} You can feels it

[14:25] {Threei}  let's see where it bottoms put before breaking .50

[14:25] {dptl} hig?

[14:25] {Threei}  no, HIG

[14:26] {larisa} lol

[14:26] {nemo} now what

[14:26] {dptl} lol

[14:26] {Threei}  let it pullback and try to get it closer to .50

[14:27] {Threei}  stop under .45 for hardcore scalpers, under .40 for the rest

[14:27] {dptl} in .53

[14:28] {Threei}  RIMM .85 long if not loding .70 anymore

[14:28] {Threei}  .75 would be even better

[14:28] {Threei}  now upward move by market would break downtrend pattern

[14:28] {Threei}  which is what I am counting on

[14:29] {Threei}  there we go

[14:29] {Threei}  just what we wanted to see

[14:29] {Threei}  RIMM over 1:1 for scalpers

[14:30] {nemo} ty

[14:30] {Threei}  HIG hit 1:1 for scalpers

[14:30] {Threei}  next leg will be 1:1 for daytraders

[14:30] {dino} close over 7900 imo

[14:30] {Threei}  here it is on RIMM

[14:31] {Threei}  and here it is on HIG

[14:31] {Threei}  8 for 8

[14:31] {Threei}  I deserved a drink

[14:31] {nemo} how's your shoulder?

[14:32] {Threei}  just fine, thank you

[14:35] {Threei}  .45 zone should be another bounce on HIG

[14:35] {Threei}  aww

[14:35] {Threei}  don't chase

[14:35] {nemo} break of .60 in up market?

[14:36] {Threei}  no way

[14:36] {Threei}  this is not a breakout market

[14:37] {nemo} wfc didn't hol

[14:37] {Threei}  didn't like WFC as bounce candidate

[14:38] {magoo} RIMM again vad?

[14:38] {cosmo} JNPR holds 17.50   so far

[14:39] {Threei}  hmmm

[14:39] {Threei}  not sure mags

[14:39] {magoo} i hit .84

[14:39] {Threei}  market lost rythm for a few min

[14:40] {Threei}  I lose me feel for it in such cases

[14:41] {Threei}  Study: sport drinks may be bad for teeth

[14:42] {Threei}  try not to gnaw through the bottle?

[14:43] {cosmo} use an I.V.

[14:44] {nemo} shakeout coming Vad?

[14:44] {Threei}  don't know

[14:44] {Threei}  see, this long pause

[14:44] {Threei}  during which I said I losemy feel fior the market

[14:44] {nemo} yeah that's what geeks me

[14:44] {Threei}  then spike out of nowhere

[14:45] {Threei}  whatever comes next, I have no way to read it until new pattern establishes

[14:45] {Threei}  old one I got a read on is ruined now

[14:45] {Threei}  mags, hope you exited into this spike

[14:46] {wulff} still think bit of a rally is in order

[14:46] {Threei}  that was the gift from trading gods, and gifts are to be taken with a bow of gratitude

[14:46] {nemo} virginal sacrifice

[14:46] {Threei}  could be wulff, just need new setups to start appearing

[14:48] {magoo} vad HIG ?

[14:49] {Threei}  no idea

[14:50] {Threei}  they all started walking on their pwn

[14:50] {magoo} wondering if IF traders take it back up

[15:00] {cosmo} JNPR needs to hold 17.40   fwiw

[15:00] {nemo} might be getting an H&S on HIG

[15:06] {cosmo} 17.40 melting

[15:11] {Threei}  Moldova says Romania is to blame for Twitter riots

[15:11] {Threei}  I don't ewven know where to begin...

[15:11] {nemo} damn vampires

[15:11] {cosmo} Adam

[15:12] {nemo} Yeah, if it weren't for Eve we'd still be in the Garden of Eden.

[15:12] {cosmo} hmmm

[15:12] {Threei}  reminds me old joke of after-soviet period... Ukraine and Moldova signed agreement about mutual understanding between Argentina and Mongolia

[15:13] {Threei}  gosh... am I the only one who finds it funny?

[15:14] {dino}    hmmmmmmmmmmmmmmmmm

[15:14] {Threei}  {--- removes himself to monastery

[15:14] {nemo} yeah

[15:14] {cosmo} i was waiting for the rest...

[15:14] {nemo} me too

[15:14] {Threei}  {--- must be isolated from society

[15:14] {nemo} while RIMM spikes

[15:14] {nemo} you are, you live on Vancouver Island

[15:14] {dptl} lol cosmo

[15:14] {Threei}  there is society here

[15:15] {Threei}  now, you two... cosmo and nemo... scroll back and reread

[15:15] {dino} society is overrated

[15:15] {Threei}  true

[15:19] {Threei}  oh good

[15:19] {Threei}  WHITE HOUSE: PRES OBAMA IS FLEXIBLE ON AUCTIONING PROCEES OF EMISSIONS PERMITS IN CLIMATE BILL

[15:19] {cosmo} make it part of the 'birth tax'

[15:23] {cosmo} Flexable: CO2 is a basic nutrient to life as we know it.

[15:25] {wulff} where's the "feel a bounce coming." no?

[15:26] {Threei}  missed first leg of it, double bottom... hesitant now

[15:26] {vint} on what, RIMM?

[15:26] {Threei}  mostly, yes

[15:26] {Threei}  61.60 break was nice setup in retrospect

[15:27] {Threei}  HIG is too narrow

[15:27] {Threei}  not mucgh room for profit

[15:34] {dino} c'mon only 100 pts to go

[15:35] {larisa} i was exactly 100 points off yest, your turn now :)

[15:35] {Threei}  lol

[15:35] {dino} :)

[15:35] {dino} anything for larisa

[15:36] {larisa} ty

[15:37] {nemo} gotta' go.  c u 2 maw row (your boat, gently down the stream) oy!

[15:37] {dino} cya nemoooooooo

[15:38] {dino} ok larisa only 96 to go

[15:40] {larisa} dats ok actually, i am on your side :)

[15:40] {dino} ahh, the right side ;-)

[15:45] {wulff} been staring at RIMM for an hour

[15:45] {wulff} it trades very strangely

[15:45] {dino} giddy-up!

[15:46] {Threei}  starting to get inetrested in RIMM break

[15:46] {Threei}  want it to consolidate a little

[15:46] {dino} utg l .95

[15:49] {dino} 80 to go

[15:50] {magoo} never 

[15:51] {dino} out pru .65, +.40

[15:51] {Threei}  no time for real break anymore

[15:52] {dino} slllllaaaaappppppppppppppp

[15:52] {dino} all the time in the world

[15:54] {Threei}  F...

[15:54] {Threei}  this thing prpares something

[15:55] {Threei}  4 break and run could be tomorrow's theme for it

[15:57] {dino} out itg .12, +.17

[15:57] {dino} well, in the black

[15:58] {Threei}  okay guys, very nice day

[15:58] {dptl} have a good evening all

[15:58] {Threei}  have a good evening

[15:58] {Threei}  see you tomorrow

[15:58] {larisa} bye all

[15:58] {vint} thanks vad, good evning all

[15:59] {Threei}  look at F go

[15:59] {dino} thx all

[16:00] {wulff} ba bye

Apr 07 2009

That was really trying day. Nothing happened all too long - win here, stop there, FAS, WFC, RIMM, FAZ, GS, UAUA... Took a lot of time to finally get our play for +70 on RIMM and finish the day in the green. 

Session Time: Tue Apr 07 00:00:00 2009

[07:55] {Threei}  PIMCO'S EL-ERIAN: AMERICAN CONSUMER WILL RETURN, BUT IN A MORE RESTRAINED FASHION; GOVERNMENT BONDS ARE "NOT WORTH OWNING" -CNBC

[07:55] {Threei}  - Unemployment is "Not a backward indicator"

[07:55] {Threei}  - Reiterates that PIMCO remains very underweight on equities. Fears pepole are getting "sucked in" to equities after seeing big 25% increases.

[07:55] {Threei}  - Would not be surprised if equities retested lows.

[07:55] {Threei}  - Mortgage-backed, corporate and muni bonds are attractive.

[07:55] {Threei}  - Fed's corporate paper program has been successful.

[08:24] {larisa} good morning :)

[08:25] {Threei}  larisa :)

[08:25] {larisa} threei :) 

[08:26] {Threei}  F gapped down into 3.50 support

[08:27] {Threei}  will be interesting for open break play if copnsolidates close to it

[08:27] {Threei}  tight stop, and nice potential if market regains strength

[08:37] {cosmo} SPIL

[08:37] {Threei}  RU) RUSSIAN CENTRAL BANK: STEPS TOWARDS THE CREATION OF A BAD BANK ARE STILL POSSIBLE

[08:37] {Threei}  sure... but they seem to be creating themselves quite well

[08:38] {Threei}  VVUS

[08:38] {Threei}  LAZARD INITIATES VVUS WITH BUY

[08:39] {nemo} gm all 3i

[08:39] {Threei}  nemo :)

[08:41] {cosmo}  SPIL has announced Monday after the close, up revenues of 29% for March,

[08:41] {cosmo} month over month

[08:42] {cosmo} careful...Cramer

[08:42] {Threei}  and

[08:42] {Threei}  04/06/09 06:15pm [SPIL] Positve Mad Money Mention - CNBC

[08:42] {cosmo} :)

[08:42] {cosmo} sigh

[08:43] {Threei}  VP BIDEN ADVISOR ALTMAN: GM BANKRUPTCY COULD TAKE A YEAR AND A HALF

[08:43] {Threei}  to start? or to end?

[08:44] {patience} good morning RT  :)

[08:45] {Threei}  patience :)

[08:48] {Threei}  HIG??

[08:48] {nemo} Everybody expected the rally, so it's hiding

[08:49] {Threei}  what the hell just happened on HIG?

[08:49] {pita} gm all

[08:49] {Threei}  pita :)

[08:49] {nemo} somebody hit the buy button accidentally...I understand

[08:49] {Threei}  that ought to be one fat finger

[08:50] {Threei}  anyway, yesterday's high is 9.52, and there is a big sell order at .54

[08:50] {Threei}  something to watch

[08:55] {Threei}  BROADPOINT AMTECH POSITIVE ON AEROSPACE AND DEFENSE SECTOR

[08:55] {Threei}  - Firm believes LMT, GD, and RTN all have further upside from current levels based on the program decisions released by Gates. A recovery to a P/E multiple of 10x calendar 2010 estimates is very reasonable.{LMT GD RTN}

[08:58] {fernp} Hello everybody

[08:58] {Threei}  fern :)

[09:00] {Threei}  GM

[09:00] {Threei}  IMCO'S EL ERIAN: ODDS OF GM BANKRUPTCY NOW ABOVE 50% - CNBC

[09:00] {Threei}  now?

[09:00] {nemo} such a diplomat

[09:00] {Threei}  dino and I pegged it at 100% in the fall when GM said "bankruptce is not an option" - before anyone even asked

[09:06] {Threei}  6.20 is FAS support from two days before yesterday

[09:10] {cosmo} DNDN again?

[09:10] {Threei}  shrug

[09:11] {cosmo} gotcha

[09:11] {Threei}  speculation on upcoming FDA ruling

[09:11] {Threei}  get caught in it long if FDA says no, make sure wife doesn't see your trading account statement for a year

[09:11] {cosmo} 7.35 spike

[09:12] {Threei}  or you are in the dighouse

[09:12] {Threei}  doghouse

[09:13] {cosmo} she's in the doghouse already for her real estate habit...

[09:13] {Threei}  ah... well, that could be her get out of jail card then

[09:13] {Threei}  my favorite part from DNDN statement:

[09:14] {Threei}  affirms plans to release data by end of April

[09:14] {Threei}  - Notes it has no new data for its Provenge vaccine, notes it remains unclear whether it will present any data or not at the conference.

[09:14] {Threei}  yes, no and maybe in one line

[09:14] {Threei}  beauty

[09:18] {ese} good morning

[09:18] {Threei}  ese :)

[09:19] {Threei}  so far on watch

[09:19] {Threei}  FAS and F, both gapped down into support

[09:20] {Threei}  HIG

[09:20] {Threei}  WFC. forms pre-market C&H

[09:20] {Threei}  with 14.80 being break level

[09:20] {ese} funny first statement... says,,,"Topic set by Threei!Reality..."TRAGIC"  whats that all about vad....something your not telling us?

[09:21] {Threei}  hmm?

[09:21] {vinod} good morning to all

[09:21] {Threei}  vinod :)

[09:21] {dino} gm all

[09:21] {ese} whats so  vin

[09:21] {Threei}  dino :)

[09:22] {Threei}  topic I set is at the blue bar

[09:22] {elepet} good morning

[09:22] {ese} ele

[09:24] {cosmo} BLUD pre mkt high = 26  fwiw

[09:24] {Threei}  elepet :)

[09:24] {cosmo} 26.29 spike

[09:26] {Threei}  [08:26] {Threei} F gapped down into 3.50 support

[09:26] {Threei}  [08:27] {Threei} will be interesting for open break play if copnsolidates close to it

[09:26] {Threei}  [08:27] {Threei} tight stop, and nice potential if market regains strength

[09:27] {Threei}  same for FAS if holding .20

[09:27] {dptl} good morning

[09:27] {Threei}  dp :)

[09:28] {magoo} sfmsjf;k';ptb;kjsFJ:

[09:28] {Threei}  you think?

[09:28] {ese} mornin dp

[09:28] {Threei}  oh, btw, dino... you'll enjoy this:

[09:28] {Threei}  [09:00] {Threei} IMCO'S EL ERIAN: ODDS OF GM BANKRUPTCY NOW ABOVE 50% - CNBC

[09:28] {Threei}  [09:00] {Threei} now?

[09:28] {Threei}  [09:00] {nemo} such a diplomat

[09:28] {Threei}  [09:00] {Threei} dino and I pegged it at 100% in the fall when GM said "bankruptce is not an option" - before anyone even asked

[09:29] {dino} lol, same old same old, just like banks didn't need to raise capital

Session Close: Tue Apr 07 09:29:15 2009

Session Start: Tue Apr 07 09:29:30 2009

Session Ident: #discussions

03[09:29] * Now talking in #discussions

[09:29] {Threei}  eqzaktly

[09:30] {Threei} Long Setup:  WFC  .80 break if stays above .70

[09:31] {Threei}  bounce candidate now off .50

[09:31] {Threei}  .60 break ,ong

[09:31] {Threei}  if holding .50

[09:33] {Threei}  quick 1:1

[09:34] {magoo} out .71 TY

[09:34] {Threei}  let's see if we get double bottom on FAS

[09:35] {Threei}  want littgle pullbacl, holding .20, then break of the high of this bounce

[09:35] {Threei}  come on FAS, one more little pullback please

[09:36] {Threei} Long Setup:  FAS  .27 if holding .20

[09:36] {Threei}  good boy

[09:36] {Threei}  1:1

[09:36] {Threei}  half out

[09:36] {magoo} missed

[09:36] {nemo} missed

[09:37] {Threei}  more weakness in the market

[09:37] {Threei}  stop to .24 for the balance

[09:38] {Threei}  awww

[09:38] {Threei}  F got away

[09:38] {Threei}  what a bounce

[09:39] {nemo} RIMM diving

[09:39] {Threei}  ZIXI

[09:39] {Threei}  SELECTED BY HOUSTON HEALTHCARE FOR EMAIL ENCRYPTION SERVICE

[09:39] {Threei}  Chaeron's favorite stock

[09:39] {Threei}  this and LULU

[09:39] {Threei}  both because of Mopassan-sounding names

[09:41] {Threei}  out FAS

[09:42] {Threei}  maybe just a shake but it's unclear here

[09:42] {Threei}  want to wait it out

[09:42] {magoo} down 150

[09:42] {magoo} 30 comp

[09:42] {Threei} Long Setup:  WFC  .70 break if holding above .60

[09:43] {dptl} in

[09:43] {magoo} in

[09:45] {magoo} 'keep eye RIMM vad

[09:45] {Threei}  (US) REPORTEDLY US PRES OBAMA IS MAKING SURPRISE VISIT TO IRAQ (LEFT TURKEY EARLIER IN EUROPEAN SESSION)

[09:47] {ese} l fnfg .50

[09:48] {Threei}  F fast drop

[09:50] {ese} out fnfg .65 +.15

[09:51] {nemo} ese been enfuego

[09:51] {dptl} stopped wfc

[09:51] {Threei}  WFC no worky this time

[09:51] {ese} whats enfuego?

[09:52] {Threei}  RIMM is almost read

[09:52] {Threei}  .60 break long

[09:52] {Threei}  if stays above .40

[09:53] {nemo} too fast

[09:53] {magoo} in

[09:53] {nemo} what you in a magoo

[09:53] {magoo} rimm

[09:53] {nemo} at what price

[09:53] {magoo} .63

[09:54] {magoo} [09:52] {&Threei}  RIMM is almost read

[09:54] {nemo} fast fingers

[09:54] {magoo} [09:52] {&Threei}  .60 break long

[09:54] {nemo} yeah saw it couldn't grab it

[09:54] {magoo} lucky u

[09:56] {Threei}  so far forms double bottom

[09:56] {magoo} need mkt 

[09:56] {Threei}  as always

[09:56] {magoo} yup

[09:57] {magoo} only half lot here

[09:57] {ese} LSCHW .65

[09:58] {Threei}  holding better on this market pullback

[09:58] {Threei}  come on

[09:58] {Threei}  this time should be it

[10:00] {Threei}  APRIL IBD/TIPP ECONOMIC OPTIMISM: 49.1 V 45.8E

[10:00] {Threei}  optimism pours overboard

[10:00] {Threei}  nice to see

[10:01] {Threei}  GS CEO: EXECUTIVE COMPENSATION SHOULD DISCOURAGE EXCESSIVE RISK TAKING

[10:01] {Threei}  fiiinally

[10:01] {Threei}  over 1:1, half out

[10:02] {Threei}  scalpers take profit

[10:02] {Threei}  RIMM sure took its sweet time

[10:02] {Threei}  stop to .55 for the balance

[10:03] {Threei}  ese

[10:04] {Threei}  you may want to look at F

[10:04] {Threei}  moves somewhat in a way that atracted you to FITB

[10:06] {Threei}  scalpers win on RIMM

[10:06] {ese} tks will do

[10:07] {nemo} fas heading for support

[10:07] {pita} next support RIMM?

[10:07] {Threei}  HIG is getting interesting

[10:07] {Threei}  RIMM's support is still .40

[10:08] {Threei}  never violated it

[10:08] {ese} want schw to get it's &^%&^ up there

[10:08] {Threei}  in fact it forms the same setup once again

[10:09] {Threei}  invalidated now

[10:09] {Threei}  don't touch RIMM for now

[10:12] {dino} ice up

[10:13] {dino} amed wants green

[10:13] {dino} watch afam off it, imo

[10:13] {dino} cb, trv holding

[10:14] {Threei} Long Setup:  UAUA  .80 break

[10:14] {cosmo} FAS holds 6.20 so far

[10:14] {Threei}  stop under .70

[10:14] {ese} bought some more schw avg .63

[10:14] {Threei}  for extreme scalpers under .75

[10:14] {dptl} in

[10:15] {dptl} uaua

[10:16] {nemo} hig

[10:16] {Threei}  HIG stalled a bit

[10:17] {Threei}  .80 is resistance to break, but it doesn't look too jazzed at the moment

[10:17] {vint} good morning all

[10:18] {Threei}  vint :)

[10:18] {nemo} out uauau

[10:19] {cosmo} FAS range = 6.20 - 6.35  fyi

[10:20] {dino} 7776, 1252, 811 thurs gaps

[10:21] {Threei}  market feels ready to reverse to the upside to me

[10:22] {cosmo} FAS tests 6.35 hod soon

[10:22] {Threei}  RIMM

[10:22] {Threei}  .10 break long

[10:23] {Threei}  stop under .90

[10:23] {dptl} in

[10:23] {dino} sm l afam .67

[10:24] {magoo} in rimm

[10:25] {Threei}  1:1

[10:25] {Threei}  half out'

[10:25] {dptl} out ty

[10:25] {Threei}  scalpers know what they want from life

[10:26] {cosmo} blud?

[10:26] {cosmo} nah

[10:26] {larisa} so thin, was looking at it under 24 and could not :)

[10:26] {Threei}  stop to .05 for RIMM balance

[10:27] {dino} schw l .55

[10:27] {dino} joining you es

[10:27] {magoo} wfc back to high

[10:27] {Threei}  argh

[10:27] {Threei}  forgot about WFC

[10:28] {Threei}  .65 break was clean long trigger

[10:28] {Threei}  fas

[10:29] {Threei}  C... hate to chase this high, and not getting any meaningful pullback

[10:30] {nemo} akam

[10:31] {magoo} read AAPL vad?

[10:32] {Threei}  long

[10:32] {Threei}  no exact trigger

[10:32] {dino} bulls on parade

[10:34] {nemo} another trigger on RIMM above .35?

[10:34] {dptl} Vad you still in uaua?

[10:34] {Threei}  yes

[10:34] {Threei}  getting tired of it though

[10:34] {Threei}  maybe scratch it

[10:34] {dptl} yeah

[10:34] {Threei}  mostly to free hands

[10:35] {Threei}  PLD

[10:35] {Threei}  this thing tends to sit quietly, then climb big

[10:36] {Threei}  if market does of course

[10:36] {Threei}  .60 - .70 range

[10:36] {dino} afam gap filled from thurs

[10:37] {Threei}  look who is back in play... JNPR

[10:43] {dino} blud fast drop

[10:43] {cosmo} blud, spil done imo

[10:44] {dino} you in?

[10:45] {cosmo} n

[10:46] {larisa} AMLN nice chart today

[10:46] {dino} taking a small drink of blub .70

[10:47] {dino} blud

[10:47] {larisa} :)

[10:48] {Threei}  JNPR... just when I started typing alert

[10:48] {Threei}  GM

[10:48] {Threei}  IN INTENSE, EARNEST PREPARATIONS FOR POTENTIAL BANKRUPCY FILING

[10:48] {Threei}  {F}

[10:48] {Threei}  GS CEO: MONEY GRANTED TO WALL STREET WAS NEVER MEANT TO BE PERMANENT, FIRMS HAVE OBLIGATION TO PAY BACK FUNDS ASAP

[10:49] {dino} indeed otherwise obamination will tell you what to do

[10:49] {nemo} Yeah, but who knows exactly how much they got, and how will AIG ever pay anything back

[10:49] {dino} aig is now usaig

[10:51] {Threei}  but dino... they run into problems trying to return the money

[10:51] {Threei}  government doesn't want to take it back

[10:51] {dino} i know congress wants to rule them

[10:51] {cosmo} yea...nobody wants it

[10:52] {dino} massive liberal power grab (no free lunch)

[10:52] {Threei}  under the wise sounding cover of "antibiotics have to work their way fully"

[10:52] {nemo} RIMM maybe test support

[10:52] {Threei}  amazing isn't it

[10:53] {Threei}  I know this method of gaining control from whose do you think methods?

[10:53] {Threei}  mafia

[10:53] {nemo} mafia

[10:53] {nemo} hehehehe

[10:53] {Threei}  neno knows stuff

[10:53] {Threei}  :)

[10:53] {nemo} I'm a guinea, what can I say

[10:54] {dino} lol

[10:55] {dino} and i am McDino

[10:55] {nemo} I'm half mc too

[10:55] {nemo} worst of both worlds

[10:56] {Threei}  we got the timing of market reversal right, but I can't say I am fully happy with how we utilized it

[10:56] {ese} Schw just hangin there and doin nutun but driving me nuts

[10:56] {Threei}  RIMM was nice, but missed WFC completely

[10:56] {Threei}  missed JNPR

[10:56] {dptl} stopped uaua

[10:56] {Threei}  I thought you scratched it long ago

[10:57] {Threei}  while it hanged out right under .80

[10:57] {dptl} well kept original stop

[10:57] {Threei}  f

[10:58] {Threei}  likely to lose .50 this time

[10:58] {dino} schw es, hard stop, forget it and let it trade imo

[10:58] {Threei}  watching for possible panic selling

[10:58] {nemo} lot of toppy charts out their

[10:58] {dptl} not shorting though? f

[10:59] {Threei}  could be but just for a smallscaklp most likely

[10:59] {dptl} i see

[10:59] {Threei}  overall, feels like more promising on a long side

[11:00] {dino} blud stopped -.33

[11:02] {Threei}  SEC will announce their new shorting rules tomorrow

[11:02] {Threei}  yet market is not in a mad rush to cover

[11:03] {Threei}  most likely non-event

[11:03] {Threei}  but be aware of possible execution problems while brokers adjust their software

[11:05] {pita} next support RIMM?

[11:06] {magoo} .30 area is resistance rimm

[11:07] {Threei}  at the moment, 61... next 60.80

[11:09] {dino} chtt sm l .99

[11:11] {dino} blud blood

[11:11] {wulff} expected if it were going to sell off

[11:12] {wulff} it would have already

[11:12] {nemo} fas a short if it breaks .44?

[11:12] {nemo} or FAZ a long...

[11:12] {Threei}  I'd rather go with FAZ

[11:13] {Threei}  a bit more room for profit

[11:14] {Threei}  1 cent downtick FAS, 6 cents uptick FAZ

[11:16] {dino} ice strong today, delayed reaction

[11:22] {pita} PLD?

[11:22] {Threei}  not sure... things stalled

[11:23] {Threei}  (GE) GERMAN PRESIDENT SIGNS LAW PERMITTING FORCED NATIONALIZATIONS OF BANKS

[11:25] {ese} finally!!!! schw

[11:26] {ese} baaaaa humbug..

[11:26] {Threei}  nothing really happens... meaningless up and down within very narrow range

[11:27] {ese} yup.......see you all in an hour and a bit....have to go and teach a class

[11:27] {Threei}  we'll be here

[11:28] {nemo} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[11:29] {Threei}  wow]'

[11:29] {Threei}  RIMM

[11:29] {nemo} yep

[11:30] {Threei}  long closer to .10 - .15

[11:31] {dino} online ed's bloody

[11:31] {dino} esi, apol, cpla, ceco

[11:33] {Threei}  RIMM bottomed out too high on pullback

[11:33] {Threei}  I am not delighted by idea of buying .50 break

[11:34] {Threei}  unless it consolidates a bit

[11:34] {magoo} sometimes u just gotta GO

[11:34] {magoo} in

[11:34] {Threei}  nah

[11:34] {Threei}  not for me

[11:35] {magoo} just do it..we all did lol

[11:35] {Threei}  TARP INSPECTOR GENERAL BAROFSKY: REVIEWING AIG'S PAYMENTS TO BANKS

[11:35] {Threei}  uh oh

[11:36] {Threei}  {banks, together} what to review?? payments, they are just that... payments...

[11:36] {nemo} Busy work so it looks like government does something important

[11:39] {Threei}  bounce RIMM

[11:39] {Threei}  61 break

[11:39] {magoo} i hate when u are right when i go against ya :)

[11:39] {Threei}  if holding 60.90

[11:39] {Threei}  sorry

[11:40] {Threei}  i hate when u are right {--- guess who you quoted

[11:40] {nemo} invalumdited

[11:40] {nemo} invalumadated

[11:40] {Threei}  yes

[11:40] {nemo} indicted

[11:40] {nemo} no

[11:41] {Threei}  valid again

[11:41] {dino}  out chtt .09, +1.10

[11:41] {Threei}  same condition

[11:41] {Threei}  wtg dino

[11:41] {larisa} gj

[11:41] {dino} :)

[11:42] {dptl} in .03

[11:43] {nemo} in .02

[11:44] {dino} out afam flat

[11:44] {dptl} stopped

[11:45] {nemo} stopped

[11:45] {dino} mkt tanking

[11:45] {Threei}  yup

[11:49] {Threei}  BIIB... takeover rumor

[11:49] {dino} biib

[11:49] {dino} opps

[11:50] {dino} awww sh#t chtt

[11:54] {dino} afam tricked me

[11:54] {wulff} Rimm Vad?

[11:55] {Threei}  not sure

[11:56] {Threei}  market hasn't defined direction yet

[11:56] {Threei}  reversal or continuation down are equally likely

[11:57] {Threei}  F

[11:57] {Threei}  MOODY'S REVISES PROBABILITY OF DEFAULT RATING TO CAA3 FROM CA; OUTLOOK NEGATIVE

[11:57] {Threei}  - Raises long term rating on secured term loan to Caa1 from Ca

[12:01] {Threei}  REPORTEDLY US TREASURY WANTS BANK STRESS TESTS RESULTS HELD UNTIL END OF APRIL, AT THE EARLIEST

[12:02] {Threei}  watching GS for long entry on pullback to 118

[12:03] {dino} afam l .80

[12:03] {Threei}  ICE

[12:03] {Threei}  HEARING ADDED TO CONVICTION BUY LIST AT GOLDMAN SACHS

[12:11] {Threei}  sheesh GS

[12:13] {Threei}  no news on financials

[12:14] {Threei}  not sure what's got into them

[12:14] {Threei}  a bit too sudden for just a technical move

[12:15] {dino} ms % wise bigger

[12:26] {Threei}  swamp... nothing to read

[12:29] {dino} supx

[12:29] {dino} too thin

[12:29] {Threei}  PREVIEW: TREASURY'S $6B 10-YEAR TIPS AUCTION RESULTS DUE OUT JUST AFTER 1PM ET

[12:29] {Threei}  - prior auction bid-to-cover was 2.48 times with an average of 2.02 over the last 10

[12:29] {Threei}  - indirect bidders at 47.3% of competitive bids at Jan auction

[12:30] {dino} rrgb

[12:32] {dino} out afam .94 +.14

[12:33] {Threei}  GM is building Segway for two...

[12:33] {Threei}  that for sure will help them out

[12:34] {dino} i know, cnbc pushing it, and i'm thinking no wonder they are in trouble, stupid reporters

[12:35] {dino} and the govt wants them to mke hybrids that nobody buys

[12:35] {dino} great plan

[12:35] {Threei}  yup

[12:35] {Threei}  very green and very baknrupt

[12:37] {dino} govt doesn't get it, it's not about feeling good, it's about money, plain and simple

[12:37] {Threei}  not for socialists, tree0huggers and do-gooders

[12:37] {larisa} I think it is romantic, Segway for two

[12:37] {Threei}  and dino... get with the program... capitalism discredited itself, havnen't you heard?

[12:38] {Threei}  Larisa... you see this thing on TV?

[12:38] {dino} yeah, 200+ years thrown out because on 6 months of tough recession

[12:39] {dino} not even as nice as a golf cart

[12:40] {dino} lod's

[12:40] {Threei}  I want larisa to look at it, then look me in the eyes and repewat that it looks romatic

[12:40] {larisa} I do not have TV vad

[12:40] {larisa} or house.. i am poor

[12:40] {dino} i guess because you have to sit on each other

[12:40] {Threei}  oh

[12:40] {larisa} all i want is segway

[12:40] {larisa} right dino

[12:40] {Threei}  you could glue 300 rose bushes on it, and it still wouldn't look anywhere near romantic {G}

[12:41] {Threei}  I mean... Aztek would look beautful next to this thing

[12:41] {dino} i'd rather a segway too larisa

[12:42] {nemo} That's a lot of thorns 3i

[12:42] {larisa} he likes pain

[12:42] {Threei}  mostly to deliver...

[12:42] {dino} hmmmmmm

[12:42] {larisa} lol

[12:43] {Threei}  and btw, so you wouldn't feel bad, my house is not much to look at either:

[12:43] {Threei}  http://realitytrader.com/vad/h.jpg

[12:43] {larisa} this is romantic!!

[12:44] {Threei}  and the view is unobstructed

[12:44] {nemo} for everybody

[12:44] {larisa} lol

[12:44] {Threei}  right

[12:44] {nemo} too visceral

[12:46] {Threei}  feels like one little pullback, then upward move

[12:48] {dino} 12:50 up

[12:49] {Threei}  GS 119 break long

[12:49] {Threei}  if stays above .80 - .85

[12:50] {ese} there it is again.....TRAGIC topics set by Threei......

[12:50] {Threei}  huh?

[12:50] {Threei}  where do you see that?

[12:51] {ese} Topic set by Threei!RealityTra@jtc-fabf3b6e.gv.shawcable.net on Tue Apr 07 2009 05:47:49 GMT-0700 (Pacific Daylight Time)

[12:51] {ese} am messin with the last word first line

[12:51] {Threei}  lol

[12:52] {ese} shere does that come from......

[12:52] {ese} where

06[12:52] * Threei kicks GS in the rear

[12:52] {ese} too funny

[12:53] {nemo} stopped

[12:53] {Threei}  still swamp...

[12:53] {dptl} ahh...stopped gs

[12:57] {Threei}  grrr

[12:57] {Threei}  shakeout

[12:58] {dino}  whats this "swamp" talk

[12:59] {nemo} RIMM seems to have bottomed

[13:00] {Threei}  that was rude GS

[13:00] {magoo} like you have said..best to take pullbk on it

[13:01] {dino} in bears we wait

[13:01] {ese} indeed

[13:01] {Threei}  US TREASURY'S $6B 10-YEAR TIPS BID-TO-COVER RATIO: 2.25 V 2.48X PRIOR AND 2.02 AVG OVER THE LAST 10 AUCTIONS

[13:02] {Threei}  - indirect bidders take 26.2% of competitive bids

[13:02] {Threei}  - notes draw 1.58% with 46.5% alotted at the high{TLT}

[13:03] {Threei}  market no likey

[13:05] {Threei}  incredible boredom

[13:05] {Threei}  low volume, slightly red

[13:06] {Threei}  if we finish like this, more and more looks like serious rally brewing

[13:07] {dino} beating continues on the online eds, apol, esi, ceco, cpla

[13:07] {dino} esi-10+

[13:08] {dino} below 50 ma vol.

[13:08] {Threei}  FDA REPORTEDLY PROPOSING TO DELAY MAD COW RULES

[13:09] {dino} vad, you ever check out; www.sharkinvesting.com/volume.aspx

[13:09] {Threei}  why? cows don't want any tules?

[13:09] {Threei}  no... lemme look

[13:11] {Threei}  nice chart

[13:11] {Threei}  I like the visual representation

[13:11] {dino} me 2

[13:12] {dino} wynn

[13:13] {Threei}  GOOG CEO: UNCLEAR HOW DEEP OR HOW LONG RECESSION MAY ENDURE - CONVENTION COMMENTS

[13:13] {Threei}  no?

[13:13] {Threei}  wow... and we thought it was easy

[13:15] {Threei}  interesting how financials are relatilvely strong

[13:21] {larisa} they are drunk frogs in the bog

[13:21] {Threei}  lol

[13:21] {Threei}  nice image

[13:26] {nemo} you see a rally brewing 3i?

[13:26] {Threei}  ?

[13:26] {nemo} You said that earlier, I think, still have the same feeling?

[13:26] {Threei}  see the condition attached?

[13:27] {nemo} I'll look

[13:27] {Threei}  [13:06] {Threei} if we finish like this, more and more looks like serious rally brewing

[13:27] {magoo}  finish

[13:27] {nemo} gotcha

[13:28] {dino} feel that thurs. gaps will fill for dji, s/p

[13:28] {Threei}  wow LVS

[13:28] {Threei}  serious selling pressure

[13:28] {Threei}  what a difference a day makes

[13:29] {dino} wynn -4+

[13:31] {dino} dji filled

[13:38] {Threei}  this is beyond boring

[13:38] {Threei}  and fruitless

[13:38] {Threei}  I didn't expect such sustained seling today

[13:38] {nemo} expectations

[13:38] {dino} perhaps you expect too much

06[13:39] * Threei slaps dino around a bit with a large expectations, starting with DOW 14,000

[13:40] {dino} lol

[13:40] {Threei}  what... that too too much?? :)

[13:43] {Threei}  FAZ bounce scalp .41 long with .45 stop

[13:43] {Threei}  50/50 play

[13:43] {Threei}  sorry, .35 stop

[13:46] {dptl} cat?

[13:47] {Threei}  prettu much market dependent

[13:47] {Threei}  .45 short or .51 long

[13:47] {dptl} ok ty

[13:50] {Threei}  out FAZ

[13:50] {Threei}  1:1

[14:07] {Threei}  (GE) GERMAN GOVT INCREASING CAR SUBSIDIES TO 5B

[14:07] {Threei}  KS... gearing to buy new BMW?

[14:11] {dino}  rrgb l .00

[14:16] {larisa} what a day, too much work for 10 cents 

[14:16] {Threei}  no kidding

[14:17] {dino} chtt back down

[14:21] {Threei}  RIMM, pullback closer to .50 interesting for bouble bottom attempt

[14:23] {Threei}  looks to me like going back to 60 and above... finding entry is a challenge though

[14:26] {magoo} mkts vad into close??

[14:27] {Threei}  up

[14:27] {Threei}  won't go green, mind you

[14:27] {larisa} would be nice if we could finish -40 :)

[14:27] {Threei}  but should stage a bounce into close

[14:27] {magoo} GS might hit 120 magnet

[14:28] {Threei}  and RIMM should go about 60.20 -.30

[14:28] {magoo} took rimm .60

[14:29] {Threei}  this digestion is a killer

[14:29] {Threei}  just won't get resolved

[14:30] {dino} more like indigestion

[14:30] {Threei}  lol

[14:34] {Threei}  looks better RIMM

[14:34] {Threei}  probably not done dancing yet

[14:35] {Threei}  but at least indicates some resemblense of strength

[14:35] {nemo} if it keeps the range are you looking for a break of .80 plus market of course

[14:36] {Threei}  as entry? no, too high

[14:38] {Threei}  lost support

[14:38] {Threei}  no read again

[14:39] {Threei}  JAVA

[14:39] {Threei}  BOARD MEMBERS REPORTEDLY MEETING TOMMOROW OVER IBM TALKS; HAD UNANIMOUSLY REJECTED OFFER

[14:39] {Threei}  why are they meeting then?

[14:39] {Threei}  to slap each other backs in self-congratulatory joy?

[14:42] {dino} celebrate keeping their board seats

[14:49] {Threei}  amazing how market just hibernates today

[14:51] {Threei}  okay... time for recovery, market

[14:52] {Threei}  digestion is almost over

[14:53] {nemo} frickinfakeouts

[14:56] {Threei}  PREVIEW: FEB CONSUMER CREDIT DUE OUT AT 3PMET

[14:56] {Threei}  ** consensue expectation -$3.0Be v +$1.8B prior

[14:57] {Threei}  C

[14:58] {Threei}  picks up some buying, with volume

[15:00] {Threei}  *FEB CONSUMER CREDIT: -$7.5B V -$3.0BE

[15:00] {Threei}  yikes

[15:01] {nemo} Meredith whitney talked about that, how the banks will be yanking a ton of credit

[15:01] {Threei}  I am not sure which it is, banks yanking credit or consumers cutting borrowing

[15:02] {nemo} Banks are definitely cutting credit.  AMEX is paying people to close their accounts

[15:03] {Threei}  Canada is on different planet then

[15:03] {dino}  rrgb stop to .04

[15:03] {Threei}  offers of new credit cards and lines flow non-stop

[15:03] {nemo} where are you from Dagoba

[15:05] {wulff} where are your powers of market persuasion?

[15:05] {Threei}  gotta just start trying RIMM

[15:05] {Threei}  .60 break

[15:05] {nemo} use the frickinforce will you VadER

[15:05] {Threei}  be ready for multiple tries

[15:06] {Threei}  markrt didn't make new low on this last piece of bad news

[15:06] {Threei}  tried to spike vertically just before it

[15:06] {Threei}  all signs of end of day recovery are there

[15:07] {Threei}  RIMM, can start partialling if you want

[15:07] {Threei}  I still am on a hunt for bigger move

[15:08] {magoo} i want point

[15:08] {Threei}  want to sell half around .90 and half around 60.20

[15:08] {Threei}  magoo is even greedier than I am

[15:10] {Threei}  half out .97

[15:10] {Threei}  +.35

[15:11] {dino} to .20

[15:12] {dino} out rrgb .20, +.20

[15:12] {Threei}  wtg

[15:13] {dino} ty

[15:14] {wulff} next break should do it

[15:15] {magoo} read GS VAD!!!!!!!!!

[15:15] {Threei}  none!!!!!

[15:15] {magoo} UUGGGGGGGGGHHHHHHHHHHHHH

06[15:16] * Threei slaps magoo around a bit with a large yellow loudspeaker

[15:16] {Threei}  out 1/4 more RIMM .22

[15:16] {Threei}  +.60

[15:16] {magoo} still in FULL

[15:16] {Threei}  out in full

[15:17] {Threei}  +.70

[15:17] {Threei}  Finally!!

[15:17] {Threei}  can't believe it took so much patience to wait out this play

[15:18] {magoo} out .25 TY

[15:18] {wulff} and I was actually here to participate

[15:18] {Threei}  took it wulff?

[15:18] {wulff} yup 1/2 lot

[15:18] {Threei}  wtg'

[15:18] {Threei}  anyone else?

[15:18] {wulff} +.50

[15:18] {Threei}  except Magoo the Greedy

[15:19] {Threei}  gosh, I miss the market where this kind of play comes around every 15 minutes

[15:19] {wulff} mee too

[15:19] {magoo} cant even recall that

[15:19] {Threei}  this start-and-stop is tiresome

[15:20] {Threei}  BAC

[15:20] {Threei}  CUSTOMERS REPORTEDLY LOOKING TO REINSTATE CASE AGAINST COMPANY OVER ALLEGED ILLEGAL RETRIEVAL OF OVERDRAFT FEES

[15:20] {Threei}  - Reminder on 11/20 California Appeals court has thrown out a $296M overdraft ruling against company - San Francisco judge said that a trial judge erred when she ruled that company was barred from subtracting fees from deposit accounts that contained such gov't benefits.

[15:23] {Threei}  NY FED TO OFFER $37.B IN 28-DAY TSLF AUCTION TOMORROW; WILL ACCEPT SCHEDULE 2 COLLATERAL

[15:23] {Threei}  {TLT SHY}

[15:23] {Threei}  schedule 2 collateral - is it toothbrush?

[15:23] {nemo} used toilet paper

[15:25] {dptl} have a good evening all

[15:26] {Threei}  take care dp

[15:26] {dino} cya dp

[15:26] {magoo} bye dp

[15:30] {Threei}  I'd like one more nice play to fonish the day

[15:30] {Threei}  or finish

[15:30] {Threei}  whichever comes first

[15:31] {Threei}  maybe FAS bounce

[15:31] {nemo} gs bounce

[15:33] {Threei}  actually I like WFC most of them all

[15:34] {Threei}  DNDN...

[15:34] {Threei}  I am about to cry, lol

[15:35] {nemo} JBE

[15:36] {Threei}  NOURIEL ROUBINI: I WILL BE THE FIRST TO CALL A BOTTOM WHEN I SEE ONE - TV INTERVIEW

[15:36] {Threei}  I have too many comments on this one

[15:37] {larisa} your english is rich enough for that? :)

[15:37] {Threei}  not as rich as Russian, mind you

[15:37] {Threei}  but still

[15:38] {wulff} RIMM bounced twice

[15:41] {wulff} rimm going

[15:41] {Threei}  spike out of nowhere

[15:42] {nemo} FAS and GS too

[15:42] {Threei}  in retrospect FAS .35 was it, but nowhere near clear at the moment

[15:42] {wulff} longs used to be scareed at close.

[15:42] {wulff} now the shorts

[15:43] {nemo} yea market jumped 30 points in a minute

[15:45] {nemo} mags might get his point

[15:45] {Threei}  we are finishing in modest red, but the volume is bigger than I would prefer to confidently call it bull flag

[15:45] {Threei}  no way

[15:45] {dino} apol sm l .98

[15:45] {Threei}  mags, don't do it

[15:45] {Threei}  I'll burst of envy

[15:50] {nemo} G making another bounce of .80

[15:52] {nemo} wullff I guess the shorts arent covering on GS

[15:52] {wulff} the are no shorts in GS

[15:53] {nemo} is GS one of those sancrosanct stocks?

[15:54] {wulff} jesus stock

[15:54] {nemo} figures

[15:54] {Threei}  holy cow stock?

[15:54] {nemo} well, no fun if you can't short it

[15:55] {wulff} you can, but not recc

[15:55] {nemo} Hey Larisa, maybe -140

[15:55] {larisa} not good enough :( 

[15:55] {nemo} what's recc?

[15:56] {wulff} not reccomended

[15:56] {nemo} Why, praytell?

[15:56] {wulff} institutional favorite

[15:58] {wulff} FAZ....

[15:58] {larisa} AA opening earnings season at 4 PM :)

[15:58] {nemo} That'll be fun to watch

[15:59] {dino} apol sm overnight

[15:59] {Threei}  AA earnings... yeah

[15:59] {nemo} publish them please VAD

[16:01] {Threei}  okay... hopefully it's not in an hour

[16:01] {Threei}  thank you all

[16:01] {larisa} any minute now :)

[16:01] {Threei}  have a good evening

[16:01] {Threei}  see you tomorrow

[16:01] {nemo} P&Q

[16:01] {Threei}  AA players, stay put

[16:01] {vint} good evening all

[16:01] {fernp} good evening all

[16:01] {Threei}  vint :)

[16:01] {Threei}  take care fern

[16:02] {dino} not a great close

[16:02] {Threei}  no

[16:02] {Threei}  not a great day by any standard

[16:02] {Threei}  doesn't fit into bull flag