May 11 2009

Quiet day. Nice opening with a few strong trades, then long period of stall with two stops. Not much excitment.

Session Time: Mon May 11 00:00:00 2009

[07:58] {magoo} morning

[07:59] {nemo} is it? :)

[07:59] {magoo} yup

[08:07] {Threei}  I'll have to confirm the astute observation by magoo - it IS morning

[08:07] {Threei}  05/09/09 05:01pm

[08:07] {Threei}  Govt promises US stress tested banks they may not have to raise the $74.6B of fresh capital mandated - FT citing sources

[08:07] {Threei}  - FT reports bank sources say that the govt has given quiet assurances that the banks can offset some of the $74.6B in mandated capital raise """"""""if earnings over the next six months outstrip regulators' forecasts."""""""" 10 of the 19 stress testd banks are required to raise capital, but were privately told that if operating profits in Q2 and Q3 are better than the stress test forecast, they will receive credit for the difference, thus reducing the need for raising capital from share issues or asset sales. The banks will still be required to submit capital raising plans for the full amount required within 28 days, and will not be allowed to assume earnings will surpass the stress scenario. A Fed official declined to comment on the report that the 10 banks would be able to get credit for exceeding earnings projections.

[08:07] {nemo} not in Australia

[08:07] {nemo} Well, that's a given...buy banks

[08:08] {Threei}  look at FITB

[08:08] {nemo} Is it at 20 yet

[08:08] {Threei}  and HBAN

[08:15] {Threei}  (US) FHA DIRECTOR LOCKHART: POSITIVE SIGNS EMERGING IN REAL ESTATE

[08:15] {Threei}  {FRE FNM SHY }

[08:15] {nemo} What?  They've stopped bulldozing unfinished homes?

[08:21] {magoo} wwwwwaaaaaaaaazzzzzzzzuuuuuuuuuppppppppppp vad?

[08:21] {Threei}  nothing much... how's yor ankle?

[08:22] {magoo} same..ty

[08:30] {magoo} see anything pre mkt vad?

[08:30] {Threei}  FITB, HBAN, FAZ

[08:38] {pita} morning all

[08:38] {Threei}  pita :)

[08:42] {larisa} good morning :)

[08:42] {Threei}  larisa :)

[08:47] {dino} gm all

[08:48] {Threei}  dino :)

[08:48] {nemo} dino :)

[08:48] {dino} cf bid increased to 85; 40 in cash

[08:48] {dptl} good morning all

[08:49] {Threei}  dp :)

[08:53] {fernp} good morning everybody

[08:53] {Threei}  fern :)

[08:57] {Threei}  AIG

[08:57] {Threei}  REPORTEDLY REACHES AGREEMENT TO SELL TOKYO HEADQUARTERS TO NIPPON LIFE FOR APPROXIMATELY $1.2B

[08:57] {Threei}  - Note: Back on May 4, it was reported that the co. was near an agreement to sell HQ in Japan for about $1B - WSJ

[09:07] {ese} good morning

[09:07] {Threei}  ese :)

[09:07] {nemo} ese :)

[09:11] {patience} good morning RT  :)

[09:12] {ese} well.....whats lookin good

[09:12] {Threei}  patience :)

[09:12] {ese} well....whats looking good

[09:12] {ese} patience is looking good

[09:13] {Threei}  FITB pulled back into close

[09:13] {ese} ahhhhhh  ha

[09:13] {cosmo} ANDS?

[09:13] {vinod} good morning

[09:13] {Threei}  vinod :)

[09:13] {Threei}  06:38am [ANDS] ThinkPanmure Raised ANDS to Buy from Accumulate, price target: $6

[09:14] {cosmo} thx:)

[09:16] {Threei}  premarket gamblers may try FITB .60 break if stays above .50

[09:16] {ese} gotta figure fitb has topped a little

[09:17] {cosmo} ANDS pre mkt high = 2.55 fwiw

[09:17] {Threei}  went to 9.2 earlier ese

[09:17] {Threei}  so there should be a bounce somewhere

[09:17] {nemo} it's that "somewhere" that has me concerned :)

[09:17] {cosmo} at the bank, maybe?

[09:20] {chinggis} gm all

[09:21] {Threei}  chingggis :)

[09:22] {pita} do you see a premkt C&H on DRYS?  thoughts?

[09:22] {dino} i think drys is issuing more shares

[09:23] {nemo} yep

[09:23] {nemo} lots

[09:24] {jfjf64} mornin all

[09:24] {Threei}  jf :)

[09:30] {patience} ese, please see dcc

[09:30] {Threei}  FITB, watching for pullback again

[09:31] {magoo} wow

[09:32] {Threei}  a bit too hectic at the bottom, didn't give indication

[09:33] {ese} i wouldn't know where to get in at this point

[09:33] {magoo} cat vad..any read?

[09:34] {magoo} missed

[09:34] {Threei}  not yet

[09:34] {Threei}  let it establish something more readable

[09:34] {Threei}  let's say another pullback, not too deep, then break of 39

[09:35] {nemo} what? 5 minutes isn't a trend? :)

[09:36] {Threei} Long Setup:  FITB  .10 break if holding above 8

[09:37] {dptl} in

[09:37] {nemo} i

[09:37] {magoo} in

[09:37] {fernp} in

[09:39] {Threei}  half out

[09:39] {fernp} out ty

[09:39] {Threei}  scalpers take profit

[09:39] {nemo} out

[09:39] {magoo} out .26 TY vad

[09:39] {ese} nice boys and girls

[09:39] {pita} out ty

[09:39] {Threei}  out in full.37

[09:40] {jfjf64} ty   VADDD

[09:40] {magoo} nice exit vad

[09:40] {Threei}  missed CAT .50 re-cross

[09:40] {dptl} out fitb +.10 +.17 +.25  ty

[09:40] {tomg} ty vad

[09:40] {Threei}  welcome guys

[09:40] {magoo} lets watch cat

[09:40] {ese} wow...

[09:40] {magoo} bouncer

[09:40] {jfjf64} nice   read    

[09:40] {fernp} nice play FITB Vad

[09:41] {Threei}  CTIC?

[09:41] {Threei}  don;'t see news

[09:41] {magoo} futes getting pounded

[09:43] {dino} mygn sm l .00, stop lod

[09:43] {magoo} do not look FITB

[09:44] {Threei} Long Setup:  LVS  10 break if holding above .90

[09:45] {magoo} market rotting here

[09:46] {magoo} CAT bounce vad?

[09:47] {Threei}  not sure

[09:47] {Threei}  what's with DNDN again?

[09:47] {magoo} oh oh

[09:47] {ese} L faz .89

[09:48] {Threei}  HIG serious dump'

[09:48] {jfjf64} lvs  invalid ??

[09:48] {Threei}  yes!!

[09:48] {jfjf64} ty boss

[09:48] {Threei}  sure thing

[09:48] {Threei}  just don't yell at me that early in the morning

[09:48] {Threei}  I am especially easily scared

[09:49] {nemo} mmmmhhhh...tck taking it on the chin

[09:49] {jfjf64} never  ya da MAN

[09:50] {Threei}  FITB is holding amazingly well

[09:50] {nemo} I thought the "yada" man was Seinfeld?

[09:50] {dino} out mygn .37, +.37

[09:51] {pita} nice dino

[09:51] {Threei}  squeeze candidate... risky

[09:52] {dino} ty

[09:52] {Threei}  wow DRYS

[09:53] {dino} too tight

[09:53] {Threei}  FITB squeeze starts

[09:54] {jfjf64} squeeze???

[09:54] {jfjf64} what  chapter  that   lol

[09:55] {Threei}  this is chapter describing shorts being waterboarded

[09:55] {Threei}  let's see if we get DRYS double bottom

[09:55] {Threei}  .70 support so far,

[09:56] {Threei}  want to see it losing .80

[09:56] {Threei}  pausing, then re-crossing .80 while never jeopardizing .70

[09:57] {nemo} does .90 become break?

[09:57] {Threei}  alternatively .90 break

[09:57] {Threei}  with stop under .80

[09:57] {Threei}  more risky

[09:57] {ese} out faz .86 -.03

[09:58] {ese} not sure of direction now

[09:59] {Threei}  FITB goes to 9 and higher

[09:59] {magoo} i whacked FITB from your squeeze comment .75 to .89 boss TY

[10:00] {Threei}  welcome

[10:00] {Threei}  no technical read to this kind of movements,

[10:00] {Threei}  it's a momo

[10:00] {Threei}  either you feel it or stay away

[10:00] {Threei}  risk is enormous

[10:00] {magoo} yea

[10:00] {Threei}  (and of course you know magoo is right there, like bee on hiney)

[10:00] {Threei}  honey too

[10:00] {nemo} fly to sh..

[10:01] {Threei}  I'll leave that one between you and magoo

[10:01] {dino} online ed's w/luv today

06[10:01] * nemo slaps magoo around a bit with a large cow pattie

[10:01] {dino} tele's too

[10:02] {nemo} magoo dcc

[10:03] {ese} interesting movement between faz and fitb.......both going up...something wrong there

[10:03] {nemo} no, many other financials tanking

[10:04] {dino} lots of banks issuing shares

[10:04] {magoo} like homo on hiney vad???NOT GOOD lol

[10:04] {nemo} oh jeez janitor!

06[10:05] * magoo slaps laserdave around a bit with a large trout

[10:05] {Threei}  LLTC...

[10:05] {Threei}  I love daily, sits on two days breakout

[10:05] {Threei}  but I hate the way this one acts on brewaks

[10:06] {Threei}  tends to shake out much more often than I'd like

[10:06] {Threei}  lwet's be smart and see if it fakes the breakout, then shakes hard

[10:06] {dino} whats w/the w's

[10:06] {Threei}  stops people out, drops into support and gives us a chance to enter

[10:07] {Threei}  and if it breaks and works, then we wil have outsmarted ourselves

[10:07] {dino} schw l .99

[10:08] {Threei}  if you took DRYS on that .90 break, feel free to exit as you see fit

[10:08] {Threei}  hard to tell whether it has potential to break 7 or it just dies on the vine

[10:08] {dino} holx l .09

[10:09] {Threei}  anyone has any inheritance coming?

[10:09] {Threei}  (US) WHITE HOUSE OFFICAL: WILL PROPOSE NEW LEGISLATION FOR ESTATE TAXES, SEEKING TO RAISE $60B IN 10-YR PERIOD

[10:10] {patience} translation:  they need more money to give away to banks

[10:11] {dino} actually good for life insurers

[10:11] {nemo} annuities?

[10:11] {dino} life

[10:12] {dino} estate plans funded w/life

[10:12] {nemo} o.k.

[10:12] {Threei}  - Will seek to close other tax loopholes regarding estate taxes

[10:12] {fernp} FITB pullback, Vad?

[10:12] {Threei}  there go insureres too, lol

[10:12] {nemo} loopholes..hehehehe

[10:12] {Threei}  I am watching it fern

[10:12] {fernp} ty

[10:12] {Threei}  .80 level is tempting but a bit too obvious

[10:13] {nemo} pru bottoming

[10:13] {ese} could someone tell me what FAS is again

[10:13] {nemo} 3x long financials

[10:13] {ese} opposite of FAZ?

[10:13] {nemo} eqzaktly

[10:13] {Threei}  yes

[10:13] {dino} bwld sm l .50, stop lod

[10:13] {ese} tks

[10:13] {Threei}  I am so proud of nemo's spelling

[10:13] {nemo} ty

[10:14] {Threei}  speaks to my power of persuasion

[10:14] {nemo} should kill my editing career

[10:14] {ese} me thinks financials have topped out.....still looking to go long faz at .90/.91

[10:14] {nemo} tarry not too long ese

[10:15] {dptl} cat?

[10:15] {dino} scanner all green

[10:15] {ese} tarry?

[10:15] {nemo} linger

[10:16] {nemo} hang around

[10:16] {Threei}  CAT, I'd be much more confortable with drop into .20-.30 zone

[10:16] {dptl} ok ty

[10:16] {Threei}  .50 break is possible as a play

[10:16] {nemo} lvs faked us out

[10:16] {Threei}  I am just not inclined to take it personally

[10:18] {cosmo} ONNN hod = 5.85 fyi

[10:18] {dino} bwld tighten to .37 not moving

[10:18] {magoo} PRU bounce time vad?

[10:19] {Threei}  I'd think so

[10:19] {Threei}  a bit too jumpy

[10:19] {dino} make it .46

[10:19] {Threei}  so keep shares small

[10:19] {Threei}  went 20 cents from the moment I wanted to type break of .10

[10:19] {Threei}  better let it pull back

[10:20] {Threei}  LLTC, we did outsmart oursleves

[10:20] {Threei}  successfully

[10:20] {nemo} who's we?

[10:20] {nemo} you told me not to think

[10:20] {dino} spike

[10:21] {magoo} darn CAT..sytalking all morn and missed move

[10:22] {Threei}  I am actually amazed you didn't take that .50 break I spoke about

[10:22] {dino} to .88 bwld

[10:23] {dino} to .98

[10:23] {dino} holx to .20out bwld .95 slip, +.35

[10:23] {dino} .45 i mean

[10:24] {dino} holx to .23

[10:24] {dino} out holx .23, +.14

[10:24] {Threei}  here is PRU pullback

[10:25] {Threei}  and CAT

[10:26] {dino} backing off drop coming gut says

[10:26] {nemo} backing off, drop...   or backing off drop?

[10:27] {dino} guess not, see what happens when i lose weight, throws off gut feel

[10:27] {Threei}  lol

[10:27] {nemo} hahahahahha

[10:28] {Threei} Short Setup: RIMM  half lot .50 breakdown

[10:29] {dino} right after all

[10:29] {nemo} in

[10:29] {dptl} in rimm

[10:30] {dino} afam drop, gap around 29.25

[10:30] {Threei}  half out or scalp here

[10:30] {Threei}  over 15 cents drop in one second

[10:30] {dino} schw to b/e

[10:31] {dino} stopped

[10:31] {Threei}  those who took half, look to cover the rest under .20

[10:31] {Threei}  there you go

[10:31] {Threei}  you are on your own from here, me is done

[10:32] {Threei}  sheesh... tell me you have covered

[10:32] {nemo} yeah

[10:32] {dino} gj

06[10:32] * Threei slaps dptl and nemo with stress test results

[10:33] {dptl} lol...all out trying figure out how much lol so fast

[10:33] {Threei}  cry me a river

[10:34] {dptl} oh covered .37 and .22 ty

[10:34] {Threei}  welcome... sorry I made you do hard math

[10:34] {nemo} pru breakdown?

[10:34] {Threei}  I'll try to refrain in the future

[10:35] {nemo} too late

[10:35] {Threei}  yeah... way too volatile

[10:35] {Threei}  every time I look at it, it does something faster than I can typer alert

[10:35] {nemo} neural implant

[10:35] {dptl} i just had few bids waiting to cover and got filled all at ones ,almost 

[10:36] {Threei}  and what's the point? if it's THAT fast, how re you going to trade it?

[10:36] {nemo} mags can

[10:36] {Threei}  GSA

[10:36] {Threei}  MASSACHUSETTS AG TO HOLD PRESS CONF AT 1PMET TO DISCUSS MULTI-MILLION DOLLAR SETTLEMENT WITH GOLDMAN OVER SUBPRIME LOANS

[10:36] {nemo} BFD!

[10:36] {ese} Vad....tell me what you think of the FAZ 1 min chart......all heck is going to break out one way or the other i think

[10:37] {ese} interesting consolidation

[10:37] {Threei}  yes ese... question is, which way :)

[10:37] {ese} ya

[10:37] {Threei}  'cause when all hell breaks loose, last thing you want is to be on the wrong side

[10:37] {nemo} interesting consolidation on fas, wouldn't you say ese?

[10:37] {Threei}  look how strong market is

[10:38] {Threei}  remember our discussion of the trap mechanics last week?

[10:38] {ese} more so on FAZ nemo...tighter range

[10:38] {magoo} cant remember

[10:39] {nemo} or is that because of difference in share price ese?

[10:39] {nemo} they're the inverse of each other

[10:39] {dino} titn l .80 stop .69

[10:39] {ese} hmmmmm don't know.....

[10:39] {ese} possibly

[10:40] {nemo} $5 stock with a .05 range, or $11 with a .10 range

[10:40] {Threei}  quite a divergence between NASDAQ and Dow lately

[10:40] {nemo} about the same

[10:40] {nemo} yeah, but techs were taken down last week for the finnies

[10:44] {jfjf64} wow  lvs

[10:45] {dino} layn sm l .30, stop .99

[10:47] {Threei}  MGM now

[10:50] {dino} layn stopped -.31

[10:51] {Threei}  if you are up to a little gamble

[10:51] {nemo} Mags...

[10:51] {Threei}  MGM, half lot arounf 13 on the necxt pullback

[10:52] {Threei}  (pun intended)

[10:52] {nemo} break of 13 after next pullback?

[10:52] {Threei}  first strength from here

[10:52] {Threei}  yeah

[10:53] {dino} syna

[10:53] {dino} fwlt

[10:53] {dino} darn schw, chickened out on  it

[10:55] {ese} i'm still watchin schw

[10:56] {dino} we are late

[10:56] {ese} ya am getting that sense

[10:57] {ese} hban new high

[10:59] {Threei}  HBAN and FITB take turns squeezing

[11:00] {nemo} rimm about to break support?

[11:00] {nemo} or basing?

[11:01] {Threei}  neither

[11:01] {Threei}  HBAN pullback to 6 deserves a try

[11:02] {dino} txn l .25

[11:05] {Threei}  NY FED:PURCHASED $3.51B IN $300B OUTRIGHT COUPONS PURCHASE; DEALERS SUBMITTED $10.42B FOR CONSIDERATION (BID TO COVER 2.97)

[11:05] {Threei}  - Heaviest purchase was $675M for the 08/15/27 maturity

[11:05] {Threei}  - Note: avg bid to cover for prior four auctions is 4.02{TLT SHY IEF}

[11:07] {ese} wasn't one of you in SQNM

[11:08] {ese} that was an fitb type move

[11:08] {dino} psys

[11:08] {Threei}  BAc CEO: CAN 'SEE THE LIGHT' WITHIN 2 TO 3 QUARTERS - CONF COMMENTS

[11:08] {vinod} sory to bother you bad ZOOM is zooming?

[11:09] {Threei}  we played SQNM recently

[11:10] {Threei}  you are not swriously considering playing $2 stock with 70 cents spread, vinod? :)

[11:11] {vinod} no, it just came in my radar

[11:11] {ese} ahhhhhh no

[11:11] {ese} thought you were talking to me

[11:12] {jfjf64} hban?

[11:12] {Threei}  6 break long

[11:12] {vinod} in

[11:13] {Threei}  MGM over 1:1

[11:13] {nemo} didn't break six yet vinod

[11:13] {Threei}  nemo, feel free to exit

[11:13] {dptl} in hban

[11:13] {dino} titn to .92

[11:14] {dptl} stop .97?

[11:14] {Threei}  I don't underdtand this at all, dp :)

[11:14] {Threei}  not only it hasn't broken 6 yeat,

[11:14] {Threei}  it also bottomed at .97 for now

[11:15] {dino} txn to .37

[11:15] {Threei}  why would you want to have such weird stop

[11:15] {Threei}  at least it has to be .96

[11:15] {fernp} missed

[11:16] {dptl} ok ty out .05

[11:16] {vinod} o.k stop is at 5.96

[11:16] {Threei}  you have your 1:1, dp... whatever money it brings you, lol

[11:16] {dptl} lol

[11:16] {Threei}  MGM 1:2

[11:18] {Threei}  vinod... have you bought it fir just a small scalp?

[11:19] {Threei}  'cause if not, .96 is too tight stop, and if yes - you already had over 1;1

[11:19] {vinod} yes , only 1kand little jumpy--i am?

[11:20] {Threei}  what I mean is... all the elements of a trade must be aligned

[11:20] {Threei}  if that was scal, as your stop placement indicates, why are you still in?

[11:20] {Threei}  scalp

[11:20] {vinod} o.k boss. will follow

[11:20] {Threei}  if that eas a trade for bigger profits, why is stop placed in a scalping fashion

[11:20] {Threei}  see what I mean?

[11:21] {Threei}  if you try bigger trade with scalping type of a stop, you will be shaken all too often

[11:21] {dino} out txn .39, +.14, out titn slip .90, +.10

[11:22] {dptl} was it even riskier this time after that first bounce off 6?hban

[11:23] {Threei}  second time is usually more or less doable

[11:23] {Threei}  third, I wouldn't do it

[11:24] {Threei}  but it also depends on what it did between them

[11:24] {Threei}  can't answer that without a lot of ifs and buts

[11:25] {vinod} out 6.07 thanks for advise

[11:25] {dptl} ok ty...

[11:28] {dino} isle

[11:31] {Threei}  HBAN 1:1 for daytraders with stop under .90

[11:36] {ese} l sqnm .62

[11:36] {ese} out 1/2 .69

[11:36] {dino} i thought daytrading was outlawed

[11:37] {Threei}  only profitable kind dino

[11:37] {Threei}  powers thast be have no problems with losing daytraders

[11:37] {ese} it is......the way you make money dino should be against the law

[11:42] {dino} ahhh c'mon

[11:43] {dino} vnus

[11:43] {dino} nah

[11:44] {pita} adios amigos

[11:44] {dino} feels like retest lod in making

[11:44] {chinggis} DRYS buyable now vad?

[11:44] {fernp} nos vemos pita

[11:44] {dino} cya pita

[11:45] {Threei}  don't see anything readable on it chuingis

[11:45] {chinggis} ok ty

[11:47] {dino} thurs. gaps 8408 dji; 907 s/p

[11:49] {magoo} WFC highs..man-o-man

[11:52] {dino} layn sm l .80

[11:55] {dino} vnda

[11:58] {jfjf64} stupid  question     im i on  server   

[11:59] {larisa} you are

[11:59] {Threei}  I need to ponder this one jf

[11:59] {jfjf64} ty larissa   always  can  count  on  ya

[11:59] {jfjf64} lol  vad

[12:01] {Threei}  WFC

[12:01] {Threei}  sharp pullback

[12:01] {jfjf64} y

[12:02] {Threei}  GM BONDHOLDER COMMITTEE: 10% EQUITY OFFER MUST BE IMPROVED 'MATERIALLY'

[12:02] {Threei}  yeah right

[12:02] {Threei}  watch for white house now to come out and put label "anti-american" on those disgusting speculators

[12:04] {Threei} Long Setup:  WFC  .05 break if stays above .95

[12:05] {Threei}  change of plans

[12:05] {Threei} Long Setup:  WFC  28 break if stays above .90

[12:06] {dino} and w/gm saying they are going to import small cars, not build them in usa

[12:06] {dino} ironic huh

[12:06] {nemo} in

[12:07] {Threei}  sure... jobs should be created here, right?

[12:07] {dptl} in

[12:07] {dptl} .01

[12:07] {Threei}  unless it's your buddy who creates them

[12:10] {dino} his unamerican to bondholders, but hey screw the workers and build them in other countries, see basically anti-investment

[12:12] {nemo} big slip

[12:12] {Threei}  no worky

[12:12] {fernp} stopped

[12:12] {dptl} stopped

[12:12] {nemo} stopped .10 slip

[12:15] {dino} eyes on wrld

[12:17] {Threei}  VNDA full of determination

[12:20] {dino} wrld sm l .10

[12:21] {magoo} obama to speak cnbc

[12:21] {ese} out full sqnm .73 

[12:22] {ese} +.21 5k

[12:22] {dino} gj

[12:23] {ese} tks

[12:23] {dino} you're crushing w/size

[12:24] {ese} ya but was in to long on this one....would have liked a shorter time frame

[12:25] {dino} lol, sometimes they take all day w/my stle

[12:26] {dino} style

[12:26] {ese} I like your style.........hard to dupe

[12:27] {ese} takes your gut feel

[12:27] {Threei}  http://caratrading.com/content/ctab-bahamas-conference-2009-post-conference-slideshow

[12:29] {ese} whos bill cara?

[12:30] {ese} also....i don't see anything about free Rum.....whats that all about?

[12:35] {nemo} db on wfc?

[12:35] {magoo} i wouldnt

[12:35] {nemo} asking not acting

[12:36] {Threei}  prez on tv

[12:36] {nemo} short everything

[12:44] {Threei} Long Setup:  RIMM  .70 break if stays above .50

[12:48] {nemo} in

[12:49] {nemo} stop @ .50?

[12:50] {Threei}  for a daytrade

[12:50] {Threei}  for a scalp, under .60

[12:51] {Threei}  market tripped of something

[12:51] {nemo} damn

[13:01] {Threei}  WINDOWS 7 RELEASE ANTICIPATED FOR HOLIDAY SHIPPING SEASON

[13:01] {Threei}  - In addition, Windows Server 2008 R2 Release Candidate (RC) is available today with the final product releasing to market in the same timeframe as Windows 7.

[13:13] {magoo} wwwwwwwaaaaaaaaaaaaaaaaaazzzzzzzzzzzzzzzzuuuuuuuuuuuuuuuuuuuppppppppppppppppp???????????????????/

[13:14] {Threei}  sigh

[13:15] {magoo} remember that bud commercial?

[13:19] {nemo} was there news on rimm?

[13:19] {Threei}  just moved with market

[13:34] {Threei}  something inteersting is brewing on VNDA

[13:38] {dino}  out layn .35 +.55

[13:38] {dino} took hours

[13:39] {larisa} gj

[13:40] {dino} ty

[13:41] {dino} wrld stop to .22, brb

[13:43] {Threei}  see that big offer on VNDA by EDGX?

[13:44] {nemo} yeha

[13:44] {Threei}  my feel is, once it's takenb VNDA is off to races

[13:44] {Threei}  WHITE HOUSE OMB DOCUMENT STATES OPTIONS FOR THE GSES INCLUDE WINDING THEM DOWN

[13:44] {Threei}  {FRE FNM}

[13:44] {Threei}  OMB?

[13:46] {nemo} Office of Management and Budget

[13:47] {Threei}  ty

[14:04] {magoo} we in anything?

[14:05] {jfjf64} zzzzzzzzzz

[14:07] {Threei}  VNDA tempting drop

[14:09] {Threei}  missed

[14:15] {dino} out wrld .38, +.28

[14:21] {magoo} .

[14:25] {Threei} Long Setup:  VNDA  .80 break if holding abogve .70, half lot

[14:30] {magoo} is that valid

[14:31] {Threei}  are you OK with wider stop?

[14:31] {dino} not much jumping out at me

[14:32] {magoo} no

[14:32] {Threei}  then no

[14:32] {magoo} no what?

[14:35] {dino} don't know

[14:36] {Threei}  asylum...

[14:47] {Threei}  I wonder if FTBK is FITB/HBAN younder brother

[14:49] {vinod} younger sister--no descrimination here

[14:49] {chinggis} any read on ISIL vad?

[14:49] {Threei}  or that

[14:50] {Threei}  not really

[14:50] {chinggis} ok 

[15:00] {Threei}  if you are up to little gambling,

[15:00] {Threei}  FTBK 2.72 break

[15:02] {dino}  mkt dropping

[15:17] {magoo} waaaaaaa...........zuuuuuuuuup?

[15:18] {magoo} mgm nuts

[15:19] {Threei}  yeah, LVS is more tame one today

[15:28] {Threei}  MEREDITH WHITNEY: POSITIVE MOMENTUM IN FINANCIALS IS NOT BASED ON ANY FUNDAMENTAL IMPROVEMENTS - CNBC INTERVIEW

[15:28] {Threei}  - Underlying earnings power of the banks is still negligible; financial stocks are "grossly overvalued."

[15:28] {Threei}  - Continues to expect a "massive contraction" in consumer liquidity.

[15:28] {Threei}  - Some of the banks have business models that will "never come back."

[15:28] {Threei}  - reiterates she believes that many of the financial firms will need to raise capital again in the future.

[15:29] {nemo} Besides that Mrs. Lincoln...

[15:31] {vinod} means days for FAS is over and FAz begans

[15:32] {dino} sm l fwlt .24

[15:34] {Threei}  I don't know vinod

[15:34] {Threei}  seems too simple to me

[15:34] {dino} he's a daytrader in this room

[15:34] {Threei}  everyone and their brother know we will pullback

[15:35] {Threei}  lol dino

[15:35] {dino} every now and then i get a chuckle

[15:35] {vinod} vad-you said few days ago pull back coming?

[15:35] {Threei}  we had some, but it was quite shallow

[15:36] {dino} gaps dji 8408, s/p 907

[15:36] {nemo} very light volume

[15:36] {Threei}  and now we are consolidating without much drop

[15:36] {dino} way below lots of gaps

[15:36] {Threei}  and on light volume, yes

[15:36] {Threei}  but the most important factor is:

[15:36] {nemo} The Spanish Inquisition?

[15:36] {Threei}  no person on a planet thinks or says "long"

[15:36] {magoo} STOP

[15:37] {magoo} I DO

[15:37] {Threei}  everyone says pullback

[15:37] {magoo} ask laser

[15:37] {Threei}  OK... magoo is the only lunatic who thinks long

[15:37] {dino} hmmm, thinking the dip buyers have been buying or we'd be alot lower

[15:37] {magoo} really

[15:37] {Threei}  so I must ask myself

[15:37] {magoo} see...mkts not letting those cautious who missed out..in

[15:37] {nemo} "self?"

[15:37] {Threei}  who is buying, and most importantly

[15:38] {Threei}  how can "everyone" be right?

[15:38] {Threei}  who is "everyone" going to take money from?

[15:38] {dino} every sell has a buy

[15:38] {magoo} i though every buy had a sell dino

[15:38] {dino} the public is buying, friends are talking again

[15:39] {magoo} dino?

[15:39] {Threei}  if you say "there is a silent group of players that identified this opportunity to once again take money from the crowd, and that group buys without much noise" - this I can uncerstand

[15:39] {dino} but...tomatoe, tomato

[15:39] {nemo} tomahto

[15:39] {magoo} i thought it was potatoe..potatt-oe ..dino??

[15:40] {nemo} Kartoffeln, nicht wahr K?

[15:40] {Threei}  scenario we discussed a week ago, vinod, was:

[15:40] {dino} not bad as in bad magoo, bad as in good

[15:40] {Threei}  run up into stress tests results, spike, sharp drop

[15:40] {Threei}  we did have run up,

[15:40] {Threei}  no spike,

[15:40] {Threei}  in fact, slight retreat just before,

[15:40] {nemo} in finnnies

[15:41] {vinod} yes, thanks for it. i am doing good base on it have 500 srs from friday at 19.80

[15:41] {Threei}  then aimless wandering around these levels

[15:41] {Threei}  and "pullback" noise from literally everywhere

[15:41] {magoo} weird day..it feels up to me

[15:44] {dino} swchw l .04

[15:44] {nemo} huh?

[15:44] {dino} schw

[15:46] {dino} pcln

[15:53] {magoo} MGM pummelled

[15:55] {Threei}  if we had more time I'd be interested in such drop

[15:56] {magoo} were we red or green friday?

[15:56] {Threei}  depends on the market

[15:56] {Threei}  they all move in different directions

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

[15:57] {Threei}  take care dp

[15:58] {Threei}  okay guys, thank you all

[15:58] {Threei}  have a good evening, see you tomorrow

[15:58] {nemo} gnite

[15:58] {larisa} bye

[15:59] {jfjf64} later all

[15:59] {fernp} good evening all

[15:59] {vinod} good evening

[15:59] {dino} out schw -.02, put fwlt -.09

May 08 2009

Fair day with about average ration of wins to stops. Both long and short sides; aside of financials (HBAN was a hero) got also nice long on CAT and short on DRYS.

Session Time: Fri May 08 00:00:00 2009

[07:49] {nemo} fern :)

[07:50] {fernp} morning

[07:50] {nemo} yeah, amazing how that happens every day

[08:00] {magoo} morning

[08:01] {nemo} magus magnus :)

[08:02] {magoo} sounds roman?

[08:08] {nemo} latin

[08:08] {nemo} close

[08:12] {Threei}  WFC

[08:12] {Threei}  REPORTEDLY PRICES 272M SHARE OFFERING AT $22/SHR - UNCONFIRMED REPORT

[08:12] {Threei}  and good morning

[08:16] {vinod} GM to all

[08:16] {Threei}  vinod :)

[08:16] {patience} good morning RT  :)

[08:16] {Threei}  pastience :)

[08:18] {magoo} what did MS price at vad..is it released yet?

[08:19] {Threei}  07:54am [MS] Prices 146M shares at $24/shr (gross proceeds seen at $3.5B)

[08:23] {Threei}  premarket gamblers,

[08:23] {Threei}  if you feel the gap is excessive, FAZ .30 breakout is your play

[08:23] {Threei}  with stop under .15

[08:23] {magoo} do u feel it is??

[08:24] {Threei}  I don't know

[08:24] {Threei}  I feel sleepy

[08:24] {Threei}  I got meself a new camera and a very very thick manual... reading till late

[08:25] {magoo} weell drink some joe, take cold shower, kick your cat..ITS GO TIME :)

[08:25] {Threei}  well... premarket calls are always toss up

[08:26] {Threei}  let me put it this way:

[08:26] {Threei}  I don't want to do anything premarket today, but if I absolutely had to, cornered and with gun tio my head - it would be FAZ long

[08:27] {pita} 10k FAZ long is the call?

[08:27] {pita} gm all

[08:27] {Threei}  but, if I had slight suspicion that those are blanks in the gun and it's all bluff... I would risk it and refuse to play

[08:27] {Threei}  pita :)

[08:28] {Threei}  here is the problem:

[08:28] {Threei}  what we have now is that same trap I talked about yesterday

[08:28] {Threei}  and there is no way to know when it's getting shut

[08:29] {Threei}  could happen now, could right on open, could after another run up

[08:29] {Threei}  yesterday's pullback was quite severe and shook many out

[08:30] {Threei}  APR CHANGE IN NONFARM PAYROLLS: -539K V -600KE

[08:30] {Threei}  APR UNEMPLOYMENT RATE: 8.9% V 8.9%E

[08:30] {larisa} good morning

[08:30] {Threei}  *APR AVERAGE HOURLY EARNINGS M/M: 0.1% V 0.2%E; AVERAGE WEEKLY HOURS: 33.2 V 33.2E

[08:30] {Threei}  larisa :)

[08:30] {larisa} vad :)

[08:31] {Threei}  CHANGE IN MANUFACTURING PAYROLLS: -149K V -155KE

[08:40] {magoo} in FAZ .26 boss

[08:41] {magoo} out .36 TY OY{its starting again lol}

[08:41] {Threei}  poor you

[08:41] {Threei}  lol

[08:42] {magoo} its tough pill to swallow..u are just so nice he he

[08:42] {Threei}  careful

[08:42] {Threei}  not many called me nice and lived to tell the tale

[08:42] {magoo} tundra again?

[08:50] {chinggis} gm all

[08:51] {nemo} futures still climbing

[08:54] {Threei}  chinggis :)

[09:00] {ese} good morning

[09:01] {Threei}  ese :)

[09:02] {ese} wow fitb 2 mornings in a row......bizzare gaps up...1.70 yesterday and 1.70 again.....if anyone was dumb enough to be in they've made alot of money

[09:02] {Threei}  Toyota posted biggest operative loss in its history exceeding GM's one

[09:02] {Threei}  anyone still wants to argue GM's problem was building wrong cars?

[09:02] {ese} funny vad....good one

[09:03] {Threei}  BAC drop

[09:03] {ese} fitb should follow

[09:04] {Threei}  not sure... BAC some fluke it seems

[09:04] {Threei}  FAS/FAZ is not confirming

[09:04] {dino} gm all

[09:04] {Threei}  dino :)

[09:04] {ese} fitb raised to outperform.....go figure

[09:04] {ese} dino

[09:05] {dino} i see c basically being nationalized w/conversion of preferred. i think govt will own over 50% of common

[09:05] {ese} will wait for technical bounce in fitb before playing seriously again.....am not really comfortable with thes big gaps....anything could happen

[09:08] {ese} drys cut

[09:12] {dptl} good morning all

[09:12] {Threei}  dp :)

[09:21] {ese} dp

[09:22] {nemo} great, beeping screwed up again

[09:25] {pita} whatcha watchin Vad?

[09:26] {Threei}  usual suspects

[09:26] {Threei}  FAS/FAZ. BAC, FITB, WFC

[09:28] {cosmo} ONNN

[09:29] {jfjf64} mornin my trading buddies

[09:30] {Threei}  jf :)

[09:32] {magoo} COF vad

[09:32] {Threei} Long Setup:  BAC  .43 if holding above .30

[09:33] {dptl} in

[09:33] {nemo} missed

[09:34] {nemo} back in

[09:34] {Threei} Long Setup:  FAS  .16

[09:35] {dptl} stopped bac

[09:35] {magoo} yup

[09:36] {fernp} DELL Vad

[09:38] {Threei} Long Setup:  FAS  .75

[09:38] {Threei}  stop .65

[09:38] {vinod} Offering $11Billion in shares to raise capital. At $8.79 a unit.

[09:38] {magoo} ion .71

[09:38] {vinod} BAC is 

[09:38] {dptl} in fas

[09:39] {dptl} half out

[09:39] {Threei}  something's strange with that news vinod

[09:39] {magoo} out .88 fas..ty vad

[09:40] {Threei}  out FAS in full here

[09:40] {Threei}  +.30

[09:41] {jfjf64} yesssss  +.30

[09:41] {Threei}  sheesh BAC

[09:41] {Threei}  I am telling you, that was fake news

[09:41] {dptl} all out .95 .05 ty

[09:42] {Threei}  that trade should have worked as it does now - that fake or erroenous news releasecaused shakeout

[09:42] {vinod} out fas 11.25

[09:42] {Threei}  wtg vinod

[09:42] {Threei}  50 cents?

[09:43] {vinod} got in 10.90

[09:43] {Threei}  wow... a lot of chasing from the trigger

[09:43] {nemo} Vinod's gonna' give Mags a run for his money

[09:43] {Threei}  careful... 15 cents difference on entry can make all the difference in day trading

[09:43] {jfjf64} need little vodka in  oj

[09:44] {pita} couldn't get out BAC; couldn't get in FAS

[09:44] {nemo} same for me pita

[09:44] {vinod} they moving to fast for me

[09:44] {Threei}  what do you mean?

[09:44] {Threei}  couldn't get out or in?

[09:44] {nemo} blew through stop in BAC

[09:44] {nemo} trying to manage that fas blew above entry

[09:45] {pita} wouldn't chase fas; couldn't get bac sold  -.30 bac

[09:45] {pita} shoulda done mkt on BAC?

[09:45] {Threei}  no, no market

[09:45] {Threei}  but a few cents beyond market did the trick

[09:45] {nemo} pita...let's go drinking

[09:46] {pita} now?  I'm ready nemo

[09:46] {vinod} it is friday nemo--liquide lunch is good 

[09:46] {magoo} in to drinking lol

[09:46] {nemo} works for me..liquid late breakfast

[09:46] {Threei}  FITB non-stop

[09:47] {nemo} RIMM too

[09:47] {dino} 4:00 guys, hang in there

[09:47] {nemo} well, if there's a trap should know soon

[09:47] {magoo} i could stop every one of those f'ers

[09:47] {nemo} be right back...going for the Cape Codder

[09:47] {ese} i'll vad

[09:47] {ese} i'll say

[09:48] {dino} holx stopped .35, +.10

[09:49] {pita} runup FITB makes no sense to me

[09:50] {nemo} wow wfc went up $2 since premarket

[09:51] {vinod} BOSTON (MarketWatch) -- Bank of America Corp. (BAC:bank of america corporation com

[09:51] {vinod} Friday said it plans to offer 1.25 billion shares of common stock at a proposed maximum offering price of $8.79 a share.

[09:52] {dino} apei drop

[09:54] {Threei}  HBAN pullback

[09:54] {dino} at 8s?

[09:54] {dino} f job

[09:54] {Threei}  let's see if we get 4.80 area

[09:55] {dino} enoc up

[09:56] {Threei}  press releaze on BAC pricing is very unclear

[09:57] {Threei}  that indication that 8.79 is pricing of offering is oversimplified

[09:57] {Threei}  and doesn't reflect what is happening

[09:57] {nemo} "maximum offering price"  doesn't say what the minimum will be or if there might be a private placement for .02 to Buffet

[09:58] {dino} lol

[09:58] {Threei}  there are underwriters for that offering

[09:58] {Threei}  it's not necessary open market offering

[10:00] {Threei}  MAR WHOLESALE INVENTORIES: -1.6% V -1.0%E

[10:00] {ese} vad question....been following intel INTC lately....what causes an opening like today for that stock.......market is up and it just tanks.....market makers want to buy cheap stock ..drive it dn to shake it out then drive it up??

[10:01] {ese} BRCM looks the same

[10:01] {Threei}  high opening is caused by pre-market and on the open bids, mostly submited by retail investors who trade on newspaper quotes

[10:02] {Threei}  amateurish hour

[10:02] {Threei}  pros happilyu sell into those bids

[10:02] {Threei}  no one left to buy - stock tanks

[10:02] {Threei}  normal trading starts in a while

[10:02] {ese} so whats happening now is basically a shake out

[10:02] {Threei}  no one knows for sure

[10:02] {Threei}  could be just a pullback

[10:03] {jfjf64} you sd write a book my man      lol

[10:03] {nemo} mags keep your eye on pru to short :)

[10:03] {Threei}  could be a top

[10:03] {wulff} how bout this RIMM 

[10:03] {Threei}  stocks like INTC do not trade in vacuum

[10:03] {Threei}  it's one of widely followed stocks

[10:03] {dino} gild sm s .00

[10:03] {Threei}  so to read it you need to read on the whole market and sector

[10:04] {dino} stop hod

[10:04] {Threei}  that wasn't much if pullback, HBAN

[10:04] {ese} tks

[10:04] {ese} trade what you see....

[10:05] {nemo} mags, missed triple top on pru

[10:06] {dino} me too nemo, big pru gap around 35-36

[10:08] {Threei}  BAC... this churning under .40 looks to me like waiting for market/FAS to reverse

[10:08] {Threei}  then BAC wants to squeeze badly, IMO

[10:09] {dino} ndx lod

[10:11] {nemo} aapl rimm charts same

[10:13] {dino} apei l sm .30

[10:14] {dino} gild bstop to b/e

[10:14] {dino} out apei .70, +.40

[10:14] {fernp} gj dino

[10:14] {dino} ty

[10:15] {Threei} Long Setup:  BAC  .20 break

[10:15] {nemo} no market help coming

[10:16] {Threei}  didn't trigger euither

[10:17] {dino} ndx gap fill, waiting for dji, s/p

[10:17] {nemo} wow, coulda' made the day on rimm already...sheesh

[10:21] {nemo} rimm held above yesterday's lows so far

[10:22] {ese} Long INTC .40 

[10:25] {vinod} i joined  intc 15.30

[10:25] {dino} lmnx

[10:25] {vinod} stop 15.20 only 500

[10:25] {dino} bagl

[10:25] {nemo} rimm breached yesterday's lows...elevator down

[10:25] {dino} bwld

[10:26] {dino} rimm wants 70 strike

[10:28] {ese} Out INTC stopped .28 -.12

[10:28] {ese} bit me in the ass again......

[10:28] {Threei} Long Setup:  CAT  .51 break if stays above .40

[10:29] {dino} cov gild .70, +.30

[10:32] {dptl} in cat

[10:32] {nemo} in

[10:33] {vinod} in

[10:33] {Threei}  intend to partial, not a scalp for me

[10:34] {nemo} out 1/2

[10:34] {vinod} out 0.63

[10:34] {dptl} half out .69

[10:34] {dino} txn l .88, stop .73

[10:34] {vinod} see you after 1.30

[10:34] {Threei}  half out .70

[10:34] {fernp} out ty

[10:35] {jfjf64} out ty

[10:35] {nemo} out

[10:35] {Threei}  welcome guys

[10:35] {dino} gild has nice range 44.55-45 fwiw

[10:35] {nemo} ty

[10:37] {dptl} stop for balance Vad?

[10:38] {nemo} .60?

06[10:38] * Threei slaps dptl around a bit with a large manual for routine procedure that says trail under breakeven afdter partial

[10:39] {dptl} lol ty

[10:39] {dino} lol

[10:39] {Threei}  reminding the routine for alzheimer traders:

[10:40] {Threei}  first partial, trail to breakeven

[10:40] {Threei}  if stock pulls back before hitting next target but doesn't stop you out,

[10:40] {Threei}  wait for new high and trail under the new support - bottom of last pullback

[10:42] {dptl} more out .75 ty

[10:42] {Threei}  traitor

[10:42] {dptl} left 100 shares to keep you company Vad :)

[10:43] {Threei}  small size traitor

[10:43] {dptl} roflol

[10:43] {Threei}  you can't win dp... when I am cranky, any comeback will only dig the hole deeper :)

[10:44] {Threei}  1/4 more out .80

[10:44] {dptl} offering .98

[10:44] {Threei}  now, let's see how lessons sink in... where is the stop for the last portion now?

[10:44] {nemo} dp, who are you, mags?

[10:44] {dptl} under .60

[10:45] {Threei}  why?

[10:45] {dptl} last support

[10:45] {Threei}  10:42 bar, bottomed out at .63

06[10:45] * Threei slaps dptl around a bit with a large door prize to be determined yet

[10:46] {dptl} hold on

[10:46] {dptl} oh ye .63 sorry

[10:46] {Threei}  no, that's correct

[10:46] {Threei}  a few cents of breathing room make sense

[10:46] {Threei}  and more or less whole number

[10:46] {Threei}  under .60 it is

[10:47] {nemo} not to mention the average support of the previous 7 bars looks to be about .60

[10:47] {Threei}  see, that's your problem nemo... YOU CAN COUNT!

[10:47] {Threei}  we can't, so we keep it simple and visual

[10:48] {nemo} no...I can see the bars 

[10:48] {nemo} over the previous 7 you have 1 touching 2 just above 2 a little more above and 2 about as far below as the 2 a little more above

[10:48] {Threei}  of course you can

[10:49] {Threei}  but you also can count them, and you abuse this ability

[10:49] {nemo} let me put my shoes and mittens on

[10:49] {Threei}  I can't count so I abuse dp

[10:49] {Threei}  or magoo

[10:49] {nemo} Yeah, right...probably do 3rd derivatives in your head

[10:50] {Threei}  word derivatives has more than 3 syllables so I don't know what it means

[10:50] {Threei}  done with CAT

[10:50] {dptl} out 

[10:50] {Threei}  market dropped fast

[10:50] {Threei}  CAT was on its merry way to give us 50 cents

[10:53] {nemo} cat shakeout

[10:55] {Threei}  yeah

[10:55] {Threei}  oh well

[10:57] {dino} wrld sm risky l .01 stop .71

[10:57] {Threei}  haha

[10:57] {Threei}  look at that

[10:57] {Threei}  DJ ) 05/08 10:36 DJ CORRECT: Bank of America Files To Sell 1.25B Cmn Shares

[10:57] {Threei}  (The headline, "BofA Plans To Sell 1.25B Cmn Shares At $8.79 Each }BAC,"

[10:57] {Threei}  published at 9:01 a.m. EDT and the story, "Bank of America Registers To Sell

[10:57] {Threei}  Up To $11B In Common Stock," at 9:17 a.m. incorrectly said the bank had

[10:57] {Threei}  decided on a price per share and a total price for the offering. A corrected

[10:57] {Threei}  version follows.)

[10:57] {Threei}  Bank of America Corp. (BAC) on Friday filed with the U.S. Securities and

[10:57] {Threei}  Exchange Commission to sell up to 1.25 billion shares of common stock from

[10:57] {Threei}  time to time.

[10:57] {Threei}  The Charlotte-based bank said it expects to use the net proceeds from the

[10:57] {Threei}  offering for general corporate purposes.

[10:57] {Threei}  Banc of America Securities LLC and Merrill Lynch & Co. were listed as the

[10:57] {Threei}  underwriters for the offering.

[10:57] {Threei}  was I right or was I right

[11:00] {dino} nobody will ever admit that vad

[11:00] {nemo} It's alright...Vad will tell everybody

[11:04] {Threei}  yup... you both are right

[11:04] {Threei}  I am big on "told ya so"

[11:04] {Threei}  very annoying, I know, but being annoying is my trademark

[11:04] {dino} txn to .99

[11:04] {dino} to .02

[11:08] {dino} hott sm l .72

[11:08] {dino} txn to .08

[11:09] {Threei}  US SENATOR BACCHUS: MUST ENGAGE MORE AGGRESSIVELY ON FX WITH CHINA

[11:09] {Threei} Long Setup:  HBAN  5.20 break

[11:10] {Threei}  stop for hardcore scalpers under 5.14

[11:10] {Threei}  5.15

[11:10] {Threei}  for just scalpers under 5.10

[11:10] {dino} out txn .11, +.23

[11:16] {Threei} Long Setup:  DRYS  .46

[11:16] {Threei}  stop under .40

[11:16] {dptl} in drys

[11:16] {nemo} in

[11:17] {dino} lmnx l .20, stop .09

[11:17] {Threei}  WFC COMPANY NOTES $7.5B STOCK OFFERING WAS 'OVERSUBSCRIBED'

[11:17] {nemo} think they're telling the truth

[11:17] {fernp} in drys

[11:18] {dptl} in hban

[11:18] {fernp} and in hban

[11:18] {Threei}  DRYS 1:1 for hardcore scalpers

[11:19] {fernp} out ty

[11:19] {Threei}  (pesky creatures)

[11:19] {jfjf64} ty

[11:19] {Threei}  US REP FRANK: EXPECTING CONGRESS TO SOON PROVIDE AUTHORITY TO SEC TO REGULATE HEDGE FUNDS

[11:19] {nemo} out drys ty

[11:20] {Threei}  lol

[11:20] {Threei}  full room of pesky creatures

[11:20] {wulff} crazy FIFB

[11:20] {nemo} lunch time on Friday

[11:26] {dino} out lmnx .30, +.10

[11:27] {dptl} ty drys 

[11:27] {dino} too soon

[11:27] {nemo} sure doesn't feel like the market is up

[11:28] {Threei}  which market?

[11:28] {Threei}  NQ is red

[11:28] {nemo} any of them

[11:28] {nemo} just went red then

[11:28] {dptl} out hban +.02 ty  (ever pesky :))

[11:28] {Threei}  DJI is green but it wqent down ever since opening

[11:28] {Threei}  it's all in the gap

[11:29] {nemo} I'll leave that one alone

[11:29] {Threei}  yeah

[11:29] {Threei}  from day trader's point of view, market is down

[11:29] {magoo} fitb took 8

[11:29] {nemo} yeah my god

[11:31] {Threei}  HBAN over 1:1 for pesky ones

[11:31] {Threei}  (dp was superpesky)

[11:31] {fernp} out ty

[11:32] {dino} apei new lows

[11:32] {Threei}  HBAN 1:1 for just scalpers

[11:32] {dino} josb lod

[11:33] {chinggis} out HBAN .32 ty vad

[11:33] {Threei}  wqelcome

[11:34] {Threei}  ese kind of trade

[11:34] {Threei}  for many littgle buggers

[11:34] {jfjf64} lk ese fitb

[11:34] {ese} nice one chingis

[11:35] {chinggis} ty

[11:35] {magoo} WFC

[11:35] {dino} out wrld .81 -.20 entry sucked

[11:37] {dino} bwld getting interesting rough;y -7 in 3 days

[11:37] {dino} same pnra

[11:40] {Threei}  US) PRESIDENT OBAMA: TODAY'S JOBS DATA IS ENCOURAGING, BUT SOBERING; WE SHOULD EXPECT FURTHER JOB LOSSES

[11:48] {dino} bwld sm l .60

[11:49] {dino} wrld rinsed

[11:50] {Threei}  FITB is from parallel universe I think

[11:50] {nemo} right at resistane from January

[11:50] {nemo} resistance

[11:50] {nemo} rezistanz

[11:52] {dino} ralllly

[11:52] {nemo} don't let Larisa hear you

[11:53] {larisa} do not worry, i am deaf

[11:55] {dino} vrsn

[11:56] {nemo} they report toay Dino?

[11:56] {Threei}  anyone still holding any of HBAN or everyone is ut?

[11:57] {jfjf64} ut

[11:57] {larisa} lol

[11:57] {Threei}  sigh

[11:57] {Threei}  you try to type with your knees

[11:57] {dino} this morning, big beat vrsn

[11:58] {nemo} I was looking at the hourly on bwld still scary

[11:58] {Threei}  no appreciation whatsoever... I am going back to old way, typing with my elbows

[11:58] {dino} thinking the same

[11:59] {nemo} I'm sorry Dino

[11:59] {dino} nemo, scared trading never wins, pull the trigger and keep you stop, whats to worry about

[11:59] {Threei}  ummm... global warming?

[12:00] {nemo} hungry people in Zimbabwe?

[12:00] {Threei}  there you go

[12:00] {nemo} ahh...Rhodesia

[12:01] {dino} let the politicians worry about that

[12:01] {nemo} believe me, farthest thing from my mind...got some great Rhodesia stories though

[12:02] {dino} for daytraders i think you guys think too much

[12:02] {nemo} Yeah, what's worse, trained in philosophy

[12:02] {Threei}  that's a first time I've been accused of thinking too much

[12:02] {ese} fitb is just stunning today

[12:02] {Threei}  or thinking at all for that matter

[12:03] {dino} tnemo, that explains alot

[12:03] {nemo} the lobotomy had something to do with it too

[12:04] {Threei}  but I do like to worry about global warming... as a matter of fact, I set aside 12 seconds every year for that purpose alone

[12:04] {dino} finance degree here, but obviously the textbooks were all wrong (efficient markets my azz)

[12:04] {Threei}  S&P AFFIRMS RATINGS ON GMAC IN LIGHT OF STRESS TEST RESULTS

[12:04] {Threei}  they really taight efficient market bs dino?

[12:05] {Threei}  taught

[12:05] {nemo} absolutely.  CAPM Black Scholes etc.,

[12:05] {dino} yes in the 80s that was the big thing, along w/p.e.'s

[12:06] {dino} by the 90s w/internet craze, none of it mattered

[12:06] {jfjf64} fitb wow

[12:06] {dino} lmnx l .20 again

[12:06] {Threei}  HBAN tries to follow

[12:07] {magoo} bacon BIG move

[12:07] {Threei}  I have last 1K of HBAN left... want to try and see if it can break through .50

[12:08] {Threei}  good buy

[12:08] {Threei}  out .54

[12:08] {Threei}  that was +.33 on last piece

[12:08] {jfjf64} hban

[12:10] {dino} gj 3i

[12:10] {Threei}  ty

[12:12] {chinggis} Vad how did u know it would go higher? is it upper BB room or volume spike around 11:31p.m ?

[12:12] {Threei}  I didn't

[12:12] {chinggis} i mean HBAN

[12:12] {Threei}  it was pure risk management issue,

[12:12] {Threei}  I took relatively large position

[12:12] {dino} ctct

[12:12] {Threei}  and partialled out twice

[12:12] {Threei}  last 1K was kind of on the house already

[12:13] {chinggis} i c , ty

[12:13] {Threei}  and seeing how stubbornly FITB crawled uop and up

[12:13] {Threei}  and I decided to give HBAN a chance

[12:13] {Threei}  they are from the same sandbox

[12:14] {dino} if i may say guys, you must remember "nobody knows" what a trade will do. think anything can happen, expect to lose and control the risk

[12:14] {chinggis} ok ty

[12:14] {jfjf64} nicely  said  dino    

[12:14] {Threei}  this is the concept my next course will be starting with

[12:15] {dino} "your edge" is the only thing that separates you from tossing a coin

[12:15] {Threei}  working title:

[12:15] {Threei}  Tao Te Ching for Traders

[12:15] {dino} thx jf

[12:15] {Threei}  and your risk control is the only thing that separates you from drunken grambler

[12:16] {dino} right

[12:16] {nemo} sob RIMM hopped over my .80 orer

[12:16] {nemo} order

[12:16] {dino} i expect 4+ stops a day, get over it

[12:17] {dino} bwld to .79

[12:18] {Threei}  what, no one is inetersted in Tao Te Ching?

[12:18] {Threei}  fine, won't give you a sneak preview

[12:18] {nemo} what is it

[12:18] {dino} more interested in a brew

06[12:18] * Threei slaps nemo around a bit with a large ancient manuscript

[12:19] {nemo} I had forseen that

[12:19] {jfjf64} fitb   pull bk

[12:23] {dino} out bwld .80, +.20

[12:26] {Threei}  next one trying to recover: SLM

[12:26] {Threei}  forms C&H

[12:27] {Threei}  lunch time is not the best for this kind

[12:27] {Threei}  .45 break with .35 stop if you likey

[12:27] {Threei}  Prez on TV - second time today

[12:28] {ese} coming to you live from  "www dot ESEPASSINGTHEBUCK dot com"  take over from here all...i'll catch you on monday...have a show with my R&B choir in 1 1/2 hrs....c ya

[12:28] {Threei}  take care ese, have a good one

[12:28] {ese} you too vad

[12:29] {nemo} break a leg ese

[12:29] {Threei}  FAS is coiming into bounce zone

[12:30] {Threei}  one more leg down most likely

[12:30] {Threei}  to .50 - .55 zone

[12:30] {Threei}  for scalpers only

[12:30] {Threei}  US TREASURY SEC' GEITHNER: GOVT WILL PROVIDE SUBSTANTIAL SUPPORT FOR GMAC; WILL LIKELY NEED MORE CAPITAL;

[12:31] {dino} lmnx stop to .25

[12:33] {dino} to .28 scalpers friday

[12:35] {dino} to .30

[12:35] {dino} out .305, +.105

[12:42] {nemo} url says it all:  http://www.fundmymutualfund.com/2009/05/minaynville-subprime-lending-is-back.html

[12:43] {dino} bagl l .63

[12:43] {dino} hott stop to .83

[12:45] {dino} read that earlier, re-inflate it boys

[12:46] {nemo} just another bubble

[12:46] {dino} out hott .84, +.12

[12:48] {dino} gary north way back; salvation through inflation

[12:48] {dino} he was just 20 years ahead

[12:56] {dino} bagl stop to .59

[13:00] {Threei}  FED'S LACKER: GROWTH COULD RESUME THIS YEAR; RECESSION IS EASING

[13:00] {Threei} Long Setup:  BAC  .20 break

[13:02] {dptl} .10 stop?

[13:02] {Threei}  depends on where it bottoms before the break

[13:02] {Threei}  ifsets up from here, 15 can be used as support

[13:02] {dptl} ok ty

[13:02] {Threei}  for hardcore scalpers

[13:06] {dptl} in

[13:06] {nemo} in

[13:07] {dino} bagl stop to .61, back in 30 or so

[13:08] {dptl} stopped

[13:08] {nemo} stopped

[13:08] {fernp} sttoped

[13:13] {dptl} ok...got to leave early again..ty ,and.....have a good weekend all 

[13:13] {larisa} bye dp

[13:13] {dptl} :)

[13:14] {Threei}  have a good one dp

[13:14] {magoo} have good weekend dp

[13:28] {chinggis} MTG pullback tradable vad?

[13:29] {Threei}  with FAS bounce I'd think

[13:29] {chinggis} ok ty

[13:32] {dino} .

[13:34] {magoo} we in anything vad..was busy sleeping

[13:36] {dino} undecided...

[13:36] {larisa} he is busy doing the same :)

[13:37] {dino} getting a haircut?

[13:38] {Threei}  sigh

[13:39] {dino} thats where i was

[13:39] {dino} and the liqour store

[13:39] {dino} got invited for happy hour along the way

[13:39] {jfjf64} nice dino

[13:40] {dino} :)

[13:40] {larisa} i want to have what STT is having.. shaken, not stirred

[13:41] {Threei}  42.45 is yesterday's high

[13:42] {dino} mygn

[13:44] {Threei} Short Setup: DRYS  8.20

[13:45] {larisa} I paper shorted STT on first fail of 42.40, could not make myself to do real one. paper covered at 42.15 :)

[13:46] {Threei}  nice paperprofit

[13:46] {Threei}  DRYS 1:1

[13:46] {jfjf64} charles  wont  let  me  short   crazyyy

[13:47] {Threei}  out in full DRYS

[13:47] {chinggis} out DRYS yearly

[13:47] {chinggis} early

[13:48] {chinggis} ty Vad

[13:50] {dino} gj

[13:51] {jfjf64} gj   need to  switch brokers   this schwab is  pure  shittttttt

[13:52] {dino} watching apei, josb, mygn

[13:52] {Threei}  what's the problem... wait for laserdave to come in, slap him with a trout and demand to take care of your needs

[13:53] {Threei}  or send him e-mail

[13:53] {Threei}  better yet call him... around 5 am

[13:53] {Threei}  he loves it

[13:53] {jfjf64} lol

[13:53] {Threei}  if he sounds especially sleepy, tell him I asked you to call at that time

[13:54] {jfjf64} sd i call ya  sat mornin   5 am    you  cd  conferance  us  

[13:54] {Threei}  and don't forget to tell me what he said, I will enjoy the memory for months

[13:54] {jfjf64} lol

[13:54] {Threei}  that is dangerous idea

[13:55] {Threei}  people calling me at that time have been known to disappear

[13:55] {nemo} frickin' FSB guy

[13:55] {dino} ?

[13:56] {Threei}  lol... dino, it must be tough to rack dialong wak,ing up fdor each 4th line only

[13:56] {Threei}  track

[13:56] {Threei}  gosh... how can one person make so many errors in one line

[13:57] {Threei}  maybe I need to give up the concept of typing with my eyes closed

[13:57] {dino} i'm a busy guy

[13:58] {dino} josb lod wants 35s imo

[14:02] {dino} ibkc

[14:03] {dino} too late

[14:03] {dino} sm l josb .60 stop .34

[14:07] {dino} stopped -.26

[14:11] {chinggis} KEG?

[14:12] {Threei}  hard to tell

[14:12] {dino} rinse

[14:12] {Threei}  also, I am too busy crying over early exit on DRYS

[14:12] {chinggis} ok

[14:15] {dino} holx l .13

[14:16] {nemo} stop dino

[14:17] {dino} .04

[14:18] {nemo} why .04

[14:19] {dino} 1k, .09 stop

[14:19] {dino} all i want is 10 cents

[14:19] {nemo} yeah lod is .10

[14:20] {dino} if it gets to .25, i'll hard stop .23 and let it trade

[14:20] {chinggis} SGY?

[14:20] {nemo} beautiful bottom

[14:24] {dino} ok, nemo, now simply because it's friday (especially p.m.) trail to break even +commission

[14:24] {nemo} o.k.

[14:24] {nemo} Vad can you figure that out for me

[14:29] {Threei}  hmm?

[14:30] {nemo} damn watching holx missed rimm short

[14:31] {dino} .20 is a wall

[14:31] {nemo} yeah might take the scalp

[14:31] {nemo} drys bottom va

[14:32] {dino} hard stop it and move on

[14:32] {dino} to .17

[14:35] {dino} to .20

[14:37] {dino} to .23 as planned

[14:41] {dino} out holx .23 +.10

[14:41] {nemo} ty dino

[14:43] {dino} np

[14:44] {dino} fridays are scalp days for me nemo

[14:44] {dino} protection mode

[14:44] {nemo} you would expect a sell off so we'll probably go over 200

[14:45] {dino} well, i just mean fridays in general, especially w/summer approaching

[14:45] {dino} friday afternoons get thin

[14:46] {dino} so protect the weeks' work

[14:46] {nemo} ty

[14:54] {dino} gmcr

[14:54] {dino} +7

[15:02] {Threei}  WHITE HOUSE PRESS SECRETARY: ADMINISTRATION HAS NOT YET FULLY EVALUATED BANK STRESS TEST PLANS

[15:02] {Threei}  - Note: Banks requiring capital have until June 8th, 2009 under the SCAP to develop detailed capital plans for Govt approval.; have until Nov 9th to implement approved capital plans{XLF}

[15:03] {jfjf64} what  the  chart  sayin  with  fitb   boss

[15:04] {Threei}  coin toss

[15:07] {larisa} see you monday, weather is too good to stare at numbers :)

[15:07] {Threei}  have a great wekend larisa

[15:11] {dino} cya larisa

[15:11] {jfjf64} by larissssa

[15:11] {Threei}  {larisa} vad, do me a favor... when dino wakes up and say bye to me, tell him I am not here anymore

[15:12] {dino} lol

[15:18] {vinod} have a nice weekend see you monday

[15:18] {Threei}  you too vinod

[15:18] {dino} cya vin

[15:18] {Threei}  market is locked into narow range for hours

[15:19] {jfjf64} ya feel somethin  to  gv

[15:19] {dino} going down to flat for gap fill

[15:23] {dino} sm risky s pru .20

[15:29] {dino} stop is ,51

[15:31] {dino} stopped

[15:32] {dino} wrld

[15:32] {dino} 10 pts 5 days

[15:34] {chinggis} very gj

[15:37] {dino} t l .15, stop lod

[15:37] {dino} .04 make it

[15:38] {dino} \wfc buy side

[15:40] {nemo} DryShips (DRYS) just announced a dilutive offering of quite magnificent size, about 40% dilution - with the company only down 15% that is a sign of approval. Again it makes the CEO's commentary A WEEK AGO [May 1, 2009: DryShips CEO: Dry Bulk Sector Oversold] about being ready to pounce on acquisitions (with the money they didn't have) even more bemusing but this market will lap up anything as "half full". Oh George, he is quite the characte

[15:40] {nemo}     * Greek dry bulk carrier DryShips Inc (DRYS) said it would offer common stock, its third such offering since November, and hopes to raise up to $475 million in an at-the-market offering.

[15:40] {nemo}     * DryShips, which had earlier raised $500 million in a similar offering announced in January, disclosed its latest offering in a filing with U.S. Securities and Exchange Commission.

[15:40] {nemo}     * Oppenheimer analyst Scott Burk downgraded the stock to "perform" from "outperform" and suspended the company's price target citing near-term weakness on this offering. "This is the company's third ATM offering since November, which has increased the share count from 43 million to 185 million currently," Burk said.

[15:40] {Threei}  when was it?

[15:41] {Threei}  I don't see fresh news on DRYS

[15:41] {nemo} got it off fundmymutualfund.com

[15:42] {nemo} http://www.reuters.com/article/marketsNews/idINBNG38163320090508?rpc=44

[15:42] {Threei}  I don't believe this is fresh news

[15:42] {Threei}  careful

[15:42] {Threei}  may get someone to short on this kind

[15:42] {dino} maybe it's dry news

[15:46] {dino} wrld risky sm l .40 forgot it

[15:47] {Threei}  that article was posted on reuters at 11:21am ED, nemo

[15:47] {Threei}  and wasn't fresh even then

[15:48] {dino} t to .18

[15:48] {nemo} how old do you think it was

[15:48] {dino} out t +.03 stuck

[15:48] {Threei}  I don't know, gotta track it... what's the point

[15:48] {dino} wrld to flat

[15:48] {Threei}  point is, be careful with all those posts

[15:49] {Threei}  there is fresh news from real time news supply

[15:49] {Threei}  and there are all those rehashes

[15:49] {nemo} Was just for information, not expecting the stocks to move

[15:49] {dino} to .55

[15:50] {Threei}  you notice if I post something from before I make sure to include time stamp?

[15:50] {nemo} o.k.

[15:50] {dino} to .560

[15:50] {Threei}  that's specificvally to prfevent someone from thinking this ios fresh news, just hit and likely to caise reaction

[15:51] {dino} to .65

[15:51] {dino} out +.25 on forgotten order, lol

[15:52] {Threei}  lol

[15:52] {Threei}  okay guys

[15:52] {Threei}  not spectacular but fair day

[15:52] {Threei}  thank you all, let's have a great relaxing weekend

[15:53] {jfjf64} ty  enjoy

[15:53] {Threei}  see you on Monday

[15:53] {fernp} Have a great weeekend all. see u on monday

[15:53] {dino} ty all, good day, v. good week. appreciate the ideas

[15:54] {chinggis} ty.. have good day all

May 07 2009

This was fun day. Financial sector gave all kinds of plays for all tastes. Whether you are trend or couintertrend trader, scalper or day trader, all the WFCs, BACs and FASs of the world gave you a lot of opportiunities today.                                                                                                                     

Session Time: Thu May 07 00:00:00 2009

[08:02] {magoo} morning

[08:02] {nemo} hey mags

[08:02] {magoo} nemo:)

[08:02] {magoo} anyone have news on VNDA?? $1 uo to $!! 

[08:02] {magoo} $11

[08:03] {Threei}  good morning

[08:03] {magoo} vad:)

[08:03] {nemo} 3i :)

[08:03] {Threei}  05/06/09 06:38pm

[08:03] {Threei}  [VNDA] Vanda Pharmaceuticals Inc Confirms FDA Approves Fanapt for the Treatment of Schizophrenia

[08:03] {Threei}  - The company announced today that the US Food and Drug Administration (FDA) has granted marketing approval of Fanapt(TM) (iloperidone) for the acute treatment of adult patients with schizophrenia.

[08:03] {Threei}  - Vanda plans to make Fanapt(TM) available in pharmacies later this year.

[08:03] {magoo} news on VNDA vad?

[08:03] {magoo} ok ty

[08:03] {nemo} Great...I'll be first in line

[08:04] {magoo} up 1000 %

[08:07] {nemo} Whole market just blowing upwards this is wild

[08:08] {Threei}  05/06/09 10:20pm [BARC.UK] (US) Fed Chairman Bernanke and Treasury Secretary Geithner expected to hold Press Briefing on Stress Test results at 4:15pm ET on Thursday

[08:08] {Threei}  a few upgrades on BAC, 17 and 25 targets

[08:08] {jfjf64} mornin

[08:08] {nemo} where are you jf?

[08:08] {Threei}  jf :)

[08:09] {Threei}  who remembers ENMD?

[08:10] {Threei}  premarket gap from 11 to over 80

[08:10] {jfjf64} wow

[08:12] {Threei}  gaps in financials are unbelieavable

[08:12] {nemo} basic materials companies too

[08:12] {cosmo} nice VNDA heads up yesterday too

[08:12] {nemo} tck continues to fly

[08:13] {magoo} so did it hold 80 or was it a good short?

[08:13] {Threei}  dropped to about 40 in first minutes after open

[08:13] {Threei}  slid ever since

[08:14] {magoo} so in theory this could drop to 5 area

[08:14] {Threei}  not sure how you derive one from another, lol

[08:14] {magoo} psychology

[08:15] {Threei}  VNDA FDA approval

[08:15] {Threei}  ENMD was article in magazine

[08:17] {Threei}  this starts lookking like that same blow-up top in the making

[08:17] {Threei}  financials I mean

[08:17] {nemo} maybe, but a longterm look at charts, they still haven't gotten out of the muck at the bottom

[08:18] {Threei}  they didn't get this low in one swoop

[08:19] {magoo} some talking heads speculate the stress test is the top, as in run up to it, 4:15 tonite its released, mkts begin the LONG AWAITED sell off 

[08:19] {Threei}  they read my memo I see

[08:19] {magoo} lol

[08:19] {nemo} Having said that, first big rally in the depression was 110% from the bottom

[08:20] {Threei}  that's working scenario I described about 10 times over last few weeks :)

[08:20] {nemo} 12 times, but who's counting

[08:24] {magoo} u did?

[08:24] {nemo} Vad, time to change the header message

[08:25] {Threei}  why?

[08:25] {Threei}  I still am on quard about sneezing swines

[08:25] {nemo} yesterday's news

[08:25] {Threei}  guard

[08:25] {Threei}  okay...

[08:26] {Threei}  better?

[08:26] {nemo} inviting politicians to the blog?

[08:27] {Threei}  careful... nseezing swines may get very offended

[08:27] {Threei}  by suich comparison

[08:27] {nemo} I understand

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 601K V 635KE

[08:30] {Threei}  CONTINUING CLAIMS: 6.351M V 6.350ME

[08:30] {Threei}  - Prior jobless claims revised from 631K to K

[08:31] {Threei}  *Q1 PRELIMINARY NONFARM PRODUCTIVITY: 0.8% V 0.6%E; UNIT LABOR COSTS: 3.3% V 2.7%E

[08:31] {Threei}  - Prior Nonfarm Productivity revised from -0.4% to -0.6%

[08:31] {Threei}  - No revisions to Prior Unit Labor Costs revised at 5.7%

[08:34] {nemo} wow dow futures up 115

[08:41] {pita} gm all

[08:41] {Threei}  pita :)

[08:48] {patience} gm RT, need coffee...croak

[08:49] {patience} gold futures kicking up over 920....let's see if it can take anothe run up to 1000

[08:49] {Threei}  patience :)

[08:56] {dptl} good morning all

[08:58] {Threei}  dp :)

[08:58] {cosmo} SYMC pre mkt high = 16.40  fwiw

[08:59] {vinod} good morning

[08:59] {Threei}  vinod :)

[08:59] {vinod} even GM is up pre market wow!!!!!!!!

[08:59] {fernp} Hello everybody

[09:02] {Threei}  fern :)

[09:02] {larisa} good morning:) 

[09:03] {dino} gm all

[09:03] {Threei}  larisa, dino :)

[09:04] {chinggis} gm all

[09:04] {cosmo} SYMC: Symantec Survey Reveals Canadian SMBs Are Not Implementing Basic Security Practi

[09:04] {cosmo} ces

[09:05] {magoo} vad, working thesis ?

[09:06] {Threei}  chingis :)

[09:06] {Threei}  two mags

[09:06] {Threei}  one:

[09:07] {Threei}  rally, volatile but relentless, leading up to end of day

[09:07] {Threei}  with test resluts annnounced after market close

[09:07] {Threei}  attracting last crowds

[09:08] {Threei}  and shutting the trap's door

[09:08] {Threei}  another:

[09:08] {cosmo} resluts?

[09:08] {Threei}  stall after this gap and first intitial volatility

[09:08] {Threei}  and useless day within narrow range

[09:12] {ese} good morning

[09:13] {Threei}  ese :)

[09:16] {ese} i see fitb is giving me a lesson in trading psychology this morning........."it's doing the .....if I'd just stayed in.......eventuallly you'd loose everything number".....

[09:17] {Threei}  it's ego talking

[09:17] {Threei}  dismiss it

[09:17] {ese} yup.....

[09:17] {Threei}  it tries to twll you that you could pick exact bottom and exact top

[09:18] {Threei}  Wall Street graveyard is full of tombstones sayong "He tried to get that last 1/8"

[09:18] {ese} one of the biggest things i've learned with you vad.

[09:18] {nemo} what's an 1/8 go for?

[09:19] {ese} your trading account

[09:19] {vinod} nemo what's an 1/8 go for?  one more red line?

[09:19] {Threei}  meaning, last piece of the move

[09:20] {Threei}  just expression from times when market traded in fractions

[09:20] {nemo} oil almost to 58

[09:21] {chinggis} VNDA +9.32, is it shortable Vad?

[09:21] {Threei}  no idea

[09:21] {chinggis} ok

[09:22] {Threei}  VNDA is great stock to lose your shirt on or get rich in one trade

[09:22] {Threei}  roll the dice

[09:22] {cosmo} gee ....VNDA wants 1000%

[09:22] {cosmo} maybe

[09:23] {chinggis} ok ty

[09:25] {dino} hott, ceco, vsec, vnda, symc, dgit

[09:25] {dino} pnra

[09:25] {cosmo} onnn too

[09:27] {dino} enoc

[09:32] {cosmo} onnn tests 6.50

[09:33] {dino} pnra leftovers to .19

[09:33] {Threei}  watching BAC for pullback

[09:34] {dino} out slipped ave .14, +.74

[09:35] {Threei}  wow... no pullbacks

[09:35] {nemo} 2nd scenario comng into play?

[09:35] {Threei}  too early to tell

[09:35] {pita} FITB pullback

[09:36] {Threei}  HIG too

[09:36] {Threei}  prepare half l,ot for HIG

[09:36] {Threei}  dive under .50

[09:36] {dino} dgit whoosh coming

[09:36] {Threei}  BAC finally retreats too

[09:37] {Threei}  14.55 - .60 zone

[09:38] {Threei}  WFC

[09:38] {Threei}  want it around or under 27.50

[09:39] {Threei}  prepare half lot

[09:39] {dino} missed it

[09:39] {Threei}  one more leg down

[09:40] {dino} sm l hott .70

[09:41] {Threei}  .60 break iof never loses .50

[09:41] {Threei}  that was fast

[09:41] {nemo} what stock?

[09:42] {larisa} WFC nemo

[09:42] {Threei}  finally lost .50

[09:42] {nemo} ty

[09:43] {Threei}  not giving clean entry still

[09:45] {dino} hott stopped .48 -.22 bad entry

[09:45] {Threei}  in .03

[09:45] {Threei}  stop under .95

[09:46] {Threei}  no worky

[09:46] {vinod} financial are weaker than at open

[09:46] {Threei}  BAC

[09:46] {dino} dgit lod

[09:46] {Threei}  .60 break long half lot

[09:47] {Threei}  if stays above .45

[09:47] {Threei}  invalidated

[09:48] {Threei}  WQFC next try is coming

[09:48] {Threei}  WFC

[09:48] {Threei}  missed while typed, lol

[09:49] {dino} ugh partyoal fill dgit .55 l

[09:49] {Threei}  no, here it is again

[09:49] {Threei}  in .35

[09:49] {vinod} FAZ  vas  

[09:49] {Threei}  sheesh, stopped

[09:50] {Threei}  all trades half lot for now

[09:50] {nemo} Guess since the stress tests are unofficially out you're getting your sell-off

[09:50] {Threei}  BAC .36 long

[09:50] {Threei}  stop under .25

[09:51] {Threei}  this pullback will be bought, it's not over yet

[09:51] {Threei}  just hard to nail the reversal

[09:51] {dptl} stopped bac

[09:53] {Threei}  BAC .25 long

[09:53] {Threei}  if stays above .15

[09:53] {dptl} in

[09:53] {Threei}  WFC .25 long

[09:54] {Threei}  if stays above .10

[09:54] {Threei}  half out BAC .41

[09:54] {dptl} out bac .36 ty

[09:54] {dino} sm l hott .00

[09:54] {Threei}  half out WFC .42

[09:55] {nemo} out wfc

[09:55] {magoo} out wfc

[09:55] {Threei}  out balance WFC .63

[09:55] {magoo} .48

[09:55] {nemo} ty

[09:55] {magoo} ty

[09:55] {Threei}  welcome

[09:56] {magoo} out bacon .49

[09:56] {magoo} ty

[09:56] {Threei}  out balance BAC

[09:56] {Threei}  .53

[09:56] {nemo} hig vad

[09:56] {Threei}  that was fun

[09:57] {Threei}  took nerves of steel too

[09:57] {nemo} yeah, like flossing with barbed wire

[09:57] {nemo} how's ankle mags?

[09:57] {Threei}  HIG, we are late

[09:57] {Threei}  those two took all attention

[10:00] {ese} whats with the qqqq...definately not following the market

[10:00] {dino} leading maybe

[10:00] {larisa} lol

[10:00] {dino} dgit stop is .43

[10:00] {dino} wierd

[10:00] {Threei}  what do you mean not following.... QQQQ IS the market... NASDAQ at least :)

[10:00] {nemo} musicians

[10:01] {dino} vad getting all technical

[10:01] {ese} ok.....other indexes then

[10:01] {nemo} too late

[10:01] {ese} hey....we approach this creatively ehhhh

[10:01] {dino} hott stop to .40

[10:01] {nemo} :)

[10:01] {dino} :)

[10:01] {dino} symc?

[10:02] {Threei}  first hard pullback is usually bought

[10:02] {ese} in qqqq's?

[10:02] {Threei}  it's being perceieved as second chance by those who missed the move

[10:02] {Threei}  in everything

[10:02] {dino} out hott .40, +.40

[10:02] {Threei}  that was the idea of that pullback-bottom-hunting

[10:02] {ese} nice dino

[10:02] {Threei}  now we need things to stabilize and show us next move

[10:03] {dino} vsec thin

[10:03] {dino} ty

[10:04] {dino} sm l symc .30

[10:06] {Threei}  OK... let's see if WFC gives double bottom

[10:06] {dino} stop is .19

[10:06] {ese} dino where are you in on dgit?....are you Short

[10:06] {dino} want .25 to hold

[10:06] {dino} l ave .70

[10:06] {ese} short?

[10:06] {dino} l=long

[10:07] {dino} in  my mind probabilities say up

[10:07] {dino} time will tell

[10:07] {ese} q's tanking huge

[10:07] {Threei}  no clean indication yet WFC

[10:08] {dino} start respecting 5s and 0s imo, with exp. next week

[10:08] {Threei}  HIG

[10:08] {Threei}  let it drop a bit more

[10:08] {Threei}  prepare half lot

[10:09] {Threei}  not yet...

[10:10] {Threei}  not yet...

[10:10] {dino} symc stopped -.11 will look 50 cent lower

[10:11] {Threei}  come on HIG, drop into .20 - .25 once again

[10:11] {Threei}  and WFC into 26

[10:12] {ese} been scoping WFC most of the morning also vad.....whats your thinking on this again

[10:12] {dino} markets feel fast today

[10:12] {Threei}  missed HIG

[10:13] {Threei}  WFC, either fast drop under 26

[10:13] {Threei}  or stabilization here and break 26.10 for long

[10:13] {Threei}  half lot!

[10:13] {Threei}  don't be a hero

[10:13] {ese} gotcha

[10:13] {Threei}  today's market will leave a lot of dead heroes in its wake

[10:13] {nemo} Billy don't be a hero, don't be a fooool with your liiiiife

[10:13] {nemo} frickin' 70's

[10:14] {ese} eggzactly.....

[10:14] {ese} missed wfc for quick one while typing

[10:15] {ese} am getting this toppy feeling with markets

[10:15] {Threei}  second chance, on .10 re-break

[10:15] {dino} symc sm l .00

[10:15] {Threei}  same condition

[10:16] {chinggis} which stocks vad?

[10:16] {dino} dgit stopped -.20

[10:16] {dptl} in wfc

[10:16] {Threei}  WFC

[10:16] {nemo} oops

[10:16] {ese} damn...too fast

[10:16] {ese} missed it  ^%$

[10:16] {Threei}  get a real broker, will ya

[10:16] {dptl} half out

[10:16] {Threei}  out .33

[10:16] {Threei}  out balance

[10:16] {ese} crap....lokk at it&^%&^

[10:16] {Threei}  .43

[10:16] {dino} rinsed

[10:17] {ese} nice job all

[10:17] {dptl} all out .42 ty

[10:17] {jfjf64} yeah ahh

[10:17] {ese} good call vad

[10:17] {pita} out WFC too soon, but TY

[10:17] {Threei}  ty

[10:17] {Threei}  ese... your cheap broker is cheap for a reason...

[10:17] {chinggis} missed

[10:17] {fernp} missed too

[10:17] {magoo} out .53 TY boss

[10:18] {Threei}  you lose more on missed fills than you gain on flat rate commissions

[10:18] {jfjf64} out  too soon  also   ty    

[10:18] {Threei}  welcome guys

[10:18] {ese} i'll say......

[10:18] {jfjf64} very  nice  work  vad

[10:18] {Threei}  OBAMA AIDE: 2010 BUDGET MAINTAINS $250B 'PLACEHOLDER' FOR BANK RESCUE

[10:18] {Threei}  sheesh

[10:19] {Threei}  we will never stop rescue them, will we

[10:19] {dino} apol sm wide l .60

[10:19] {Threei}  crap

[10:19] {Threei}  why did I miss HIG

[10:19] {nemo} patting yourself on the back for wfc?

[10:19] {Threei}  with one hand yes,

[10:20] {Threei}  bit beating yself over the head with another over missed HIG

[10:20] {Threei}  tried to watch both of them and get both entries, and they were a little too fast

[10:20] {nemo} yeah, so how could you type

[10:20] {Threei}  that's not a problem, I type with my elbows

[10:21] {nemo} xplains alot

[10:22] {Threei}  you saw nothing yet... wait till I finish practicing typing with my knees

[10:23] {ese} checking out my financial stock.....i think there all due for a large pullback

[10:23] {ese} stocks plural

[10:23] {Threei}  Obama aide:

[10:23] {Threei}  - To end $26B in oil and gas subsidies, claims programs are unjustified tax loopholes

[10:24] {Threei}  (US) SENATER REED: AGREEMENT HAS BEEN REACHED ON 'LANGUAGE' FOR CC BILL

[10:24] {Threei}  lord, I hope it's English

[10:25] {dino} mygn sm l .00

[10:25] {Threei}  SPPI

[10:25] {Threei}  STRENGTH ATTRIBUTED TO POSITIVE COMMENTS AT MORGAN JOSEPH

[10:26] {pita} WFC bounce off 26 again?

[10:27] {dino} what happened to stanley

[10:28] {dino} vz t drop

[10:28] {ese} pita......it could very well go short  at 26 with the pattern it's seting up

[10:28] {ese} straight at 26 with lower highs

[10:28] {ese} bear flag

[10:29] {pita} thanks ese

[10:29] {pita} FAS and QQQQ making new lows

[10:29] {Threei}  trying to gauge it pita, ese

[10:29] {ese} you and i missed the bes play on that one....vad and the boys and girls nailed it

[10:29] {Threei}  lower high on last bounce

[10:33] {larisa} had an order to short CAT at 40.80, stupid WFC took all my attn :)

[10:34] {dino} there are better worlds larisa

[10:34] {Threei}  you made money on WFC?

06[10:34] * nemo slaps dino around a bit with a large copy of Alice in Wonderland

[10:34] {Threei}  lol

[10:34] {larisa} 26.14-26.41, still,  want to have 3d eye :)

[10:35] {dino} stephen king, the gunslinger

[10:35] {Threei}  you read whole thing dino?

[10:35] {Threei}  all 7?

[10:35] {nemo} Or Tale of Two Cities

[10:36] {Threei}  no you don't larisa

[10:36] {jfjf64} drys big sellin

[10:36] {Threei}  it's not pretty...

[10:36] {dino} apol stop to .10

[10:36] {Threei}  people tend to stare

[10:36] {dino} yes i did

[10:36] {Threei}  kids run scared

[10:36] {Threei}  cool :)

[10:36] {Threei}  loved the series

[10:36] {dino} took me a winter

[10:36] {Threei}  hehe, same here

[10:37] {Threei}  I even had a blog post with analogy

[10:37] {Threei}  lemme dig it out

[10:37] {dino} to .30 apol

[10:37] {Threei}  http://www.realitytrader.com/blog/2007/12/stephen-king-on-trading.html

[10:37] {dino} out apol .34, +.74

[10:38] {larisa} gj

[10:38] {Threei}  you'll remember the quote dino

[10:39] {Threei}  "First smiles. Then lies. Last comes gunfire"

[10:39] {ese} short fitb .93

[10:39] {dino} yes, but the kid when he falls says"there are better worlds than these"

[10:39] {dino} ty larisa

[10:39] {dino} substitute stocks for worlds same idea

[10:40] {Threei}  read the post, you'll like it

[10:40] {ese} small by the way.......this is a stretch for me 

[10:40] {nemo} what stop ese?

[10:40] {ese} .10

[10:41] {ese} .90 is the day low

[10:41] {nemo} yeah, but you're shorting right?

[10:41] {ese} should go to .40/.50 if it goes through

[10:41] {dino} i did, yes same idea

[10:42] {ese} 1 lot by the way

[10:42] {nemo} 10k

[10:42] {ese} no 1 lot

[10:42] {nemo} thought that was one of your lots

[10:43] {Threei}  Prez on TV

[10:43] {ese} lol

[10:44] {Threei}  CAT is shovel... err, bounce ready

[10:44] {Threei}  .60 break

[10:45] {Threei}  for scalpers stop under .50, for dsay trade under .40

[10:45] {larisa} it is playing with yest lows too, so careful

[10:45] {dptl} in cat

[10:46] {ese} covered .86 + .07

[10:46] {ese} weird feeliing......

[10:47] {magoo} thats what i said to my proctologist

[10:47] {ese} have to get used o this......dino don't know how you do it ......yet

[10:47] {Threei}  rofl

[10:47] {ese} ha ha .....ha ha

[10:48] {Threei}  this is good way to get used to it ese

[10:48] {Threei}  start small

[10:48] {Threei}  taske qwuick profits

[10:48] {Threei}  not so much for profit

[10:48] {Threei}  as to practice shorting

[10:48] {Threei}  get used to the concept

[10:48] {ese} definately

[10:48] {ese} i'll take the $70

[10:48] {dptl} out cat +.10 ty

[10:48] {Threei}  1:12 for scalpers

[10:48] {larisa} :)

[10:48] {dino} es, up/down, whats the difference

[10:48] {Threei}  1:1, lol

[10:49] {dino} magoo and i had fun shorting csco last night

[10:49] {jfjf64} ty 

[10:49] {pita} I need a few 1:12's please

[10:49] {ese} the way you watch the quotes dino

[10:50] {Threei}  who tells me what the play was based on?

[10:50] {Threei}  lol pita

[10:50] {ese} not used to it

[10:50] {magoo} vad..is there news AAPL?

[10:50] {Threei}  1:1 for daytraders

[10:50] {nemo} support from yesterday

[10:50] {dino} keep it simple es, your gut will tell you, you've been around long enough

[10:50] {Threei} 

[10:50] {Threei}  05/07/09 10:22am

[10:50] {Threei}  [AAPL] Apple Inc Chatter AT&T is considering cutting prices on monthly services plans for iPhones - Thestreet.com

[10:50] {Threei}  - Rumors circulating AT&T could lower entry level prices for iPhone service plans to $59 from $69 currently

[10:51] {dino} bwld

[10:52] {Threei}  support from yest on daily, level of interest

[10:52] {Threei}  on intraday chart, what kind of formation and entry?

[10:53] {Threei}  you guys are so lazy

[10:53] {Threei}  even lazier than I am

[10:53] {Threei}  and I thought it was impossible

[10:53] {fernp} CAT? double bottom

[10:53] {nemo} higher low with movement of bars within bollinger bands and volume spikes on the two lowest bars

[10:53] {Threei}  beautiful, ty

[10:53] {Threei}  double bottom, second on is on lower volume,

[10:54] {Threei}  first one is punching outside of BBs,

[10:54] {Threei}  second one is contained within,

[10:54] {dino} pnra sm l .48

[10:54] {Threei}  semi-aggressive entry near the support ol second bottom

[10:55] {Threei}  gunslinger play...

[10:55] {Threei}  recognizable situation, automatic reaction

[10:55] {magoo} huh?

[10:55] {magoo} whats the call?

[10:55] {Threei}  lol

[10:55] {nemo} instinct shooting...don't use sights

[10:55] {Threei}  good morning magoo

[10:55] {nemo} must be surfin' the net

[10:56] {Threei}  or that ankle stuff

[10:56] {magoo} dude..i got 1k aapl..im focused over here

[10:56] {magoo} but i heard guns

[10:56] {dino} celg

[10:58] {magoo} trying to let "winner ..WIN"

[10:59] {magoo} ok..out 29.29

[11:00] {magoo} +.65

[11:01] {chinggis} gj mag

[11:01] {magoo} bummed tho..i want to catch a real move

[11:01] {magoo} thought it had more

[11:02] {dino} protect profits magoo

[11:03] {magoo} cant ever get the BIG one anymore

[11:04] {dino} bwld sm l .15

[11:04] {nemo} cat short?

[11:05] {nemo} yup.damn

[11:10] {larisa} had to take out bunch of 38s stops :)

[11:11] {Threei}  BAC

[11:11] {Threei}  watching for bounce

[11:11] {Threei}  SCHEDULES DISCUSSION OF STRESS TEST RESULTS FOR 6PMET

[11:13] {magoo} vad, wfc.jpm..crushed 

[11:13] {Threei}  .10 break long if holding 14

[11:13] {magoo} bac should lose 14

[11:13] {magoo} im sh .10

[11:14] {Threei}  what a trap that morning gap was eh?

[11:14] {pita} yikes BAC

[11:14] {vinod} look at gs it going down

[11:15] {vinod} look like 300 pont down day?

[11:15] {Threei}  [08:17] {Threei} this starts lookking like that same blow-up top in the making

[11:15] {Threei}  [08:17] {Threei} financials I mean

[11:15] {nemo} See Vad, you were wrong again!  The trap closed BEFORE the stress tests came out...sheeesh

[11:15] {magoo} covered .82 TY vad

[11:15] {Threei}  .86 long BAC

[11:15] {Threei}  if syas above .75

06[11:15] * nemo slaps nemo around a bit with a large 2X4

[11:15] {vinod} vad- you are absolutly correct market will go down after stress test

[11:16] {Threei}  may give one more runup, vinod

[11:16] {Threei}  to make the trap complete

[11:16] {Threei}  out half BAC

[11:16] {fernp} out ty

[11:17] {jfjf64} ty ty   

[11:17] {pita} ty

[11:17] {vinod} in.86 out .96

[11:17] {Threei}  offering 14.05

[11:17] {vinod} ty vad

[11:17] {magoo} nice vad..we both right

[11:18] {Threei}  yeah but some are rightier than others

[11:18] {Threei}  out second half

[11:18] {pita} somebody beat me up.  Too often sell winners early and hold losers too long.

[11:18] {Threei}  nice and easy

[11:18] {nemo} you're a lefty now with all those dislocations

06[11:18] * nemo slaps pita around a bit with a large down pillow

[11:18] {pita} ty memo

[11:19] {pita} still a nice day

[11:19] {vinod} see you after 1.30

[11:19] {Threei}  selling winners too early can be sin or not, it depends

[11:20] {Threei}  but holding losers after stop is hit is SIN

[11:20] {pita} I sin too much

[11:20] {Threei}  sin no more

[11:20] {pita} yes lord

[11:20] {jfjf64} ditto

[11:20] {Threei}  if there is one thing in trading that WILL kill you, no ifs and buts,

[11:20] {pita} I tell myself that often

[11:21] {Threei}  it's blown stops

[11:21] {pita} want my testimonial?

[11:21] {nemo} confession?

[11:21] {pita} lol

[11:21] {nemo} kneel to the Vader

[11:21] {nemo} aapl mags

[11:22] {magoo} im long .48 DANGEROUS

[11:28] {pita} gotta go, happy hunting everyone.....

[11:28] {Threei}  take care pita

[11:30] {dino} txn l .39

[11:31] {magoo} waiting exit aapl .07

[11:32] {magoo} OUTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT

[11:33] {Threei}  wtg

[11:33] {nemo} kewl

[11:33] {magoo} 2 for 2 aapl...never happens :)

[11:33] {Threei}  BAC

[11:33] {Threei}  14 break long

[11:34] {nemo} missed

[11:34] {dptl} in

[11:34] {magoo} in

[11:34] {nemo} in

[11:35] {Threei}  half out or scalp above .10, your decision

[11:35] {nemo} out

[11:35] {dptl} out

[11:36] {dptl} ty

[11:36] {Threei}  who kept half, feel free to get out here

[11:36] {nemo} now doesn't dp feel like an idiot :)

[11:36] {chinggis} out ty

[11:36] {magoo} out .22 BAC

[11:36] {magoo} ty vad

06[11:36] * nemo feels like an idiot

[11:36] {Threei}  welcome

[11:36] {magoo} in wfc with it

[11:36] {dptl} lol nemo.....

[11:36] {magoo} retro call off yours 

[11:36] {magoo} .15

[11:37] {magoo} out that .34

[11:37] {magoo} ty boss

[11:37] {magoo} and jpm off your bac .61

[11:37] {jfjf64} ty

[11:37] {magoo} out .84 there THANX vad..

[11:37] {Threei}  welcome guys

[11:37] {Threei}  triple welcome magoo

[11:38] {nemo} mags, should break your ankle more often

[11:38] {magoo} just took them all off your read BAC

[11:40] {Threei}  I think (and yes, it hurts), we are going to see one more insanely looking run up

[11:40] {Threei}  the trap for stress test buyers is not completed yet

[11:40] {nemo} Well, if you stood up and took pressure off your brain, it wouldn't hurt so much

[11:40] {Threei}  they must be lured in

[11:40] {Threei}  set up and killed

[11:40] {nemo} dismembered

[11:40] {nemo} disembowled

[11:40] {nemo} castrated

[11:41] {nemo} piked

[11:41] {nemo} crucified

[11:41] {Threei}  someone give Prozac to this man

[11:41] {dino}  i agree 3i, the gig is up soon

[11:41] {nemo} stream of consciousness

[11:41] {dino} past rallies since sept have been roughly 2000 dji points

[11:41] {Threei}  ummm... I'd rather call it UNconsciousness

[11:42] {nemo} yeah, that stuff comes out of me in zen

[11:42] {dino} most likely on s/p 950 top

[11:42] {dino} mygn stop to .30

[11:44] {Threei}  let's see if we get nice clean consolidation and break on WFC

[11:44] {Threei}  break naturally would be .50

[11:45] {Threei}  support fgor consolidation range is what we need

[11:45] {Threei}  so far too deep pullback

[11:45] {Threei}  next support is .20,

[11:45] {dino} out mygn .37, +.37

[11:45] {Threei}  so let's go with mini-range scenario

[11:45] {Threei}  dive under .30, holding above .20

[11:46] {Threei}  then break of .30

[11:46] {magoo} in .33

[11:46] {dino} celg tempting

[11:47] {Threei}  forms minirange .30 - .40

[11:47] {nemo} short dino?

[11:47] {dino} y

[11:47] {dino} not yet want one more pop up

[11:47] {dino} unless .50 breaks

[11:48] {Threei}  with that aggressive entry, I'd keep stop under .30, magoo... offer half above .40

[11:48] {dino} no, lets wait for pop

[11:50] {magoo} which vad lol

[11:51] {nemo} pop dino

[11:51] {jfjf64} what  the call boss

[11:51] {Threei}  non yet

[11:51] {Threei}  unclear

[11:51] {jfjf64} ty

[11:52] {nemo} frickin' lunch

[11:52] {Threei}  we need clear range,

[11:52] {Threei}  and .40 is pretty much defined as upper limit

[11:52] {Threei}  lower is a bit fuzzy

[11:52] {Threei}  so far is .25 instead of .30

[11:53] {Threei}  if you are OK with the stop under that, take this break

[11:55] {dino} idcc

[11:56] {dino} txn stop to .51

[11:57] {nemo} funny...I see idcc, ad I'm thinking dcc and I don't see a name...where's that prozac?

[11:57] {Threei}  not holding support

[11:57] {magoo} yup out

[11:57] {magoo} may setup again

[11:58] {magoo} grrrr

[11:58] {dino} to .57

[11:58] {Threei}  lunch mags

[11:58] {Threei}  lt's wait it out

[11:59] {nemo} celg dino, getting there

[11:59] {magoo} k

[12:01] {dptl} finishing early today....ty, and have a good rest of the day all :)

[12:01] {Threei}  take care dp

[12:02] {magoo} c u dp

[12:02] {dino} to .61

[12:03] {nemo} damn, missed celg

[12:04] {dino} out txn .61, +.22

[12:04] {magoo} PRU up 8 bux vad

[12:05] {Threei}  argh

[12:05] {Threei}  watched VNDA for 8.50 break short and missed

[12:05] {nemo} was it shortable?

[12:05] {dino} .75 area nemo

[12:05] {Threei}  yes

[12:06] {dino} i was too high 42.40

[12:06] {nemo} I was looking for cross below .50

[12:07] {dino} bwld whooshed stopped

[12:07] {magoo} vad u reading PRU?

[12:08] {nemo} you shorted @.75 dino?

[12:08] {Threei}  looks double-toppy

[12:08] {nemo} PRU might be topping

[12:08] {nemo} damn scary vad

[12:08] {Threei}  just a bot too volatile for exact call mags

[12:08] {Threei}  fuzzy area instead

[12:09] {nemo} you talking about me again vad: {&Threei} fuzzy area instead

[12:09] {dino} idcc sm s .11, stop .31

[12:10] {dino} no nemo, i am waiting there, was at .40 above

[12:10] {magoo} sh pru .76

[12:13] {dino} nice entry magoo

[12:14] {magoo} I WANT POINTSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS

[12:15] {Threei}  one thing is what you want... another is what you need, and that's Prozac

[12:15] {magoo} DDDDDDDDIIIIIIIIIIIIIIIIIIEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

[12:15] {dino} you should hear him

[12:15] {nemo} Can't always get what you waaaaanttttt

[12:16] {Threei}  no, I am fine not hearing that, thank you

[12:16] {nemo} stodgy

[12:17] {magoo} AAAARRRRRRRLHKKKKKKKKKKKK

[12:17] {magoo} wROJR;JOFDJ;LJ;LJ;AO

[12:17] {nemo} dino-go check on mags

[12:17] {magoo} full boat

[12:17] {jfjf64} you go  magoooooooo

[12:17] {magoo} RSLHSFHLIFSHLSFLHSFHL

[12:18] {Threei}  is that a ceisure?

[12:18] {nemo} seizure

[12:18] {Threei}  that too

[12:18] {nemo} posession I think

[12:18] {nemo} go hold a mirror in front of his face see if there's a reflection

[12:18] {dino} lol

[12:18] {magoo} ANYONE WITH ME?ALOT OF NOTICES ON IT

[12:19] {nemo} I saw it but chickened out...don't tell dp

06[12:19] * magoo slaps nemo around a bit with a large trout

[12:19] {magoo} 1 POINTTTTTTTTTTTTTTTTTTTTTTTTTTTT

[12:19] {magoo} i want morrrrrrrrrrrrrrrrrreeeeeeeeeeee

[12:19] {Threei}  whew... can I uncover my ears yet?

[12:19] {nemo} take it mags you're in support

[12:20] {magoo} u dont understyand nemo :)

[12:20] {dino} hard bstop it magoo

[12:20] {nemo} psychotic behavior?  I wrote the book

[12:20] {nemo} Can't save him from himself Dino

[12:21] {nemo} or at least I was the subject

[12:22] {dino} live by the sword....

[12:22] {nemo} Cmon Mags

[12:23] {nemo} we need to be able to yell at you about obscene profits

[12:23] {magoo} covered over point

[12:23] {magoo} TY VAD

[12:23] {nemo} wtg

[12:23] {dino} gj

[12:23] {patience} nice magoo

[12:23] {magoo} kinda bummed though...i cant ..i say i can not get a RIPPPPPPPPPPPPPPP

[12:23] {jfjf64} gj

06[12:24] * nemo plays mags a sad song on a violin

[12:24] {Threei}  probably time for financials reversal

[12:24] {Threei}  let's try to get FAS closer to 11 on pullback

[12:24] {dino} up we go for 20

[12:24] {Threei}  WFC under .30

[12:25] {Threei}  FAS first strength from here if holding above .95

[12:26] {Threei}  in

[12:27] {Threei}  in WFC

[12:27] {Threei}  stop under .15

[12:29] {dino} dieeeeeeeeeeeeeeeee idcc

[12:30] {dino} rimm lod

[12:30] {dino} 70 strike by the 15th

[12:33] {nemo} mags, watching pru again

[12:34] {magoo} yea

[12:34] {magoo} rather seea pop uopward

[12:34] {nemo} gettin it

[12:34] {magoo} if if mkt tanks lateriitcould be great short

[12:34] {nemo} maybe setting a dbi

[12:35] {magoo} not here imo

[12:35] {nemo} maybe you'll get $2 out of it today

[12:35] {magoo} lets wait

[12:35] {magoo} want 4 lol

[12:35] {nemo} not surprised

[12:36] {magoo} does this surprise u..................

[12:36] {nemo} duck

06[12:36] * magoo slaps nemo around a bit with a large trout

[12:37] {dino} idcc to .12 stuck

[12:38] {dino} nemo celg

[12:38] {dino} going thru .00 imo

[12:40] {Threei}  half out FAS

[12:41] {nemo} out wfc ty

[12:41] {dino} idcc cov., -.03

[12:41] {Threei}  welcome

[12:41] {Threei}  I'll try to get something out of it

[12:41] {Threei}  held the stop level with remarkable pfrecision

[12:42] {magoo} pfrecision...UHU?

[12:42] {ese} signing off for the day all....see ya tomorrow......to much stuff to deal with

[12:42] {nemo} circumcision

[12:42] {Threei}  1/4 more out FAS .18

[12:42] {Threei}  take care ese

[12:42] {dino} cya es

[12:42] {Threei}  half out WFC

[12:42] {ese} c ya

[12:42] {Threei}  .40

[12:42] {dino} foods moving up, mcd, bwld, pnra

[12:43] {magoo} out wfc .41

[12:43] {magoo} TY BOSS

[12:44] {magoo} this i pain in ass thanking u all day her he

[12:44] {Threei}  I am sorry mags

[12:44] {dino} like reading code

[12:44] {Threei}  I can ease your pain by calling losing trades only

[12:44] {magoo} :)

[12:47] {nemo} qqqq's look like catfish swimming the bottom

[12:47] {dino} ok 20 over back down

[12:47] {jfjf64} question  wfc   .40 key # today  on chart

[12:48] {magoo} nemo, dcc 

[12:49] {Threei}  sorry jf... what's the question?

[12:49] {dino} celg sm s .60, stop hodwrls blood last two days

[12:49] {nemo} Hey, Laserbrain hasn't made an appearance yet?

[12:50] {nemo} Wonder where he is today?  Whoa CELG!

[12:50] {jfjf64} its been  hittin off 25.40    is  that key  to  look for   break

06[12:51] * magoo slaps laserdave around a bit with a large trout

06[12:51] * magoo slaps laserdave around a bit with a large trout

06[12:51] * magoo slaps laserdave around a bit with a large trout

[12:51] {Threei}  I am not delighted by that idea because it pulls back way too far from there

[12:51] {Threei}  range is too wide for me to enter bnreak comfortably

[12:51] {Threei}  so I prefer entries closer to lower end if the range

[12:52] {jfjf64} understood ty

[12:53] {nemo} RIMM slip slidin' away today

[12:55] {dino} celg stopped -.40

[13:01] {dino} wrld sm l .51

[13:02] {dino} april gap fill?

[13:02] {dino} celg rinsed

[13:03] {dino} lots of rinses today yesterday

[13:03] {magoo} missed PRU

[13:04] {magoo} 43.40 was short setup

[13:05] {dino} out wrld .20, +.69

[13:13] {dino} wrld v sm .00 l

[13:16] {magoo} BAC vad

[13:17] {dino} stop to .50

[13:17] {Threei}  this is what sent financials down:

[13:17] {Threei}  *TREASURY'S $14B 30-YEAR BOND AUCTION BID-TO-COVER RATIO: 2.14 V 2.02 PRIOR AND 2.05 AVE OVER THE LAST 5 AUCTIONS

[13:17] {Threei}  - indirect bidders take 33% of competitive bids

[13:17] {Threei}  - bonds draw 4.288%, 57.1% alloted at high{TLT}

[13:18] {dino} out ave .47,+.47

[13:20] {Threei}  okay... BAC pullback closer to .40 for entry

[13:21] {Threei}  and FAS around 55

[13:21] {dino} that wrld is a crazy one

[13:22] {Threei}  in both

[13:22] {Threei}  .43 BAC, .56 FAS

[13:22] {Threei}  stops under day low

[13:25] {Threei}  no wrky

[13:25] {fernp} stopped

[13:28] {dino} ok sm wrld .50 l

[13:32] {dino} stopped -.33

[13:45] {jfjf64} zzzzzzzzz

[13:47] {jfjf64} ya  ther anyone   or im i off server

[13:48] {nemo} no

[13:48] {jfjf64} ty

[13:48] {Threei}  now nemo... why woluld you do that

[13:48] {nemo} do what?

[13:48] {Threei}  since wehn we are making anyone feel good here

[13:48] {nemo} I said, "no"

[13:49] {nemo} and I didn't say, "you're welcome"

[13:49] {Threei}  if you guys intend to turn in warm and fuzzy fiends group-hugging trice a day, Iam ouuta here

[13:49] {Threei}  correct answer is:

[13:49] {Threei}  yes, you are off the server, and no, we are not sorry about that

[13:49] {dino} bwld sm l .00

[13:49] {larisa} leave jf alone, i liked his DRYS alert this morning!

[13:50] {Threei}  there... one more defendent of warm and fuzzy

[13:50] {jfjf64} ty

[13:50] {Threei}  defender?

[13:50] {nemo} Larisa...whaddya' expect?

[13:50] {larisa} lol

[13:51] {Threei}  and you jf... shame on you, I'd expect you to feel better among rude unwashed that amonth bleeding heart intellectuals

[13:51] {Threei}  that = than

[13:51] {jfjf64} on  that  note  larrissa  look at  lvs

[13:51] {nemo} frickin' Harvard commie Cambridge bastards

[13:51] {jfjf64} lol  vad

[13:53] {nemo} little late on that one jf

[13:54] {larisa} no he was not

[13:55] {jfjf64} ty larrissa

[13:55] {nemo} Vad, think the financials might be warming up?

[13:57] {nemo} from a "short" point of view Larry

[13:57] {dino} some serious pullbacks

[13:58] {larisa} LVS got .15 very nice trend exhaustion jf.. ty

[13:58] {Threei}  they are trying...

[13:58] {dino} ebix

[13:58] {Threei}  not sure if that's it or they need a bit more time

[13:59] {nemo} yeah, or do the traders come back for lunch and commence selling

[13:59] {Threei}  that would be about now

[13:59] {Threei}  and they seem to rather buy

[14:01] {Threei}  if you feel it's time to try

[14:01] {Threei}  BAC .10 break if stays abve 13

[14:01] {dino} wrld bottomed

[14:01] {Threei}  FAS about here with stop under .30

[14:01] {nemo} needs fas?

[14:05] {magoo} aapl held that welkl

[14:06] {magoo} long .40

[14:06] {magoo} stop.89

[14:08] {magoo} better aapl stop is .14

[14:09] {Threei}  if took FAS, start partialling out

[14:09] {Threei}  same for BAC

[14:12] {magoo} my aapl trade is based on a mkt bounce..so if no bounce..get out

[14:12] {nemo} bouncing off the ceiling?

[14:14] {Threei}  US) FDIC'S BAIR: REITERATES REGULATORS MAY REQUIRE LARGE BANKS TO ISSUE COMMERCIAL PAPER THAT CONVERTS TO LONG-TERM, UNSECURED LIABILITIES IN "DISTRESSED" CONDITIONS

[14:14] {Threei}  {XLF}

[14:15] {magoo} out aapl no gop

[14:15] {nemo} volume drops on pru magoo  :)

[14:16] {wulff} Think we can get a RIMM pop?

[14:21] {Threei}  FDIC'S BAIR: EXPECTS A TRIAL OF THE PUBLIC PRIVATE INVESTMENT PARTNERSHIP IN JUNE

[14:21] {Threei}  trial?

[14:28] {nemo} market strengthening

[14:28] {nemo} ?

[14:28] {magoo} blair witch project?

[14:28] {Threei}  mostly finnies

[14:28] {Threei}  the rest is not really

[14:28] {Threei}  not yet

[14:28] {nemo} spy and qs alittle

[14:30] {nemo} funny mags...seen her picture?

[14:33] {dino} bwld stop to .39

[14:34] {dino} out slip .35, +.35

[14:35] {Threei}  this BAC pullback should be worth trying

[14:36] {nemo} everyting is going south

[14:38] {Threei}  US HOUSE APPROVES WAR APPROPRIATION OF $95.6B

[14:38] {Threei}  hmm?

[14:38] {Threei}  from who?

[14:38] {nemo} Visa or Mastercard?

[14:41] {nemo} mags you short pru further?

[14:42] {magoo} nah..no real setup

[14:44] {nemo} what about that lower high @43?

[14:44] {magoo} just my opinion

[14:44] {nemo} just askin?

[14:44] {magoo} not convinced its done

[14:45] {larisa} cmon market, lets do complete reversal into the close and confuse everybody! :)

[14:45] {nemo} Larry!

[14:45] {larisa} lol

[14:45] {Threei}  that's what seems to me the way to confuse most larisa

[14:45] {nemo} I'm confused ENOUGH!!

[14:45] {Threei}  thus it's what market ought to do

[14:46] {nemo} so, the market thinks like a woman?  No wonder I have no clue...

06[14:47] * larisa slaps nemo around a bit with a large trout

[14:47] {nemo} trouting me is doubly bad...it's fratricide.

[14:48] {dino} lol

[14:49] {dino} sm wrld .51 l

[14:50] {fernp} good evening all. see u tomorrow

[14:50] {nemo} nite

[14:50] {Threei}  take care fern

[14:55] {dino} cya ferp

[14:59] {wulff} market aint got no mojo

[15:00] {Threei}  MAR CONSUMER CREDIT: -$11.1B V -$4BE

[15:00] {Threei}  - prior revised from -$7.5B to -$8.1B

[15:00] {nemo} whoa

[15:02] {dino} out wrld .18, +.67

[15:02] {dino} brb

[15:02] {larisa} nice

[15:08] {Threei}  okay... decision time for the markety

[15:08] {Threei}  I still think rally into close

[15:08] {Threei}  you disagree, just stay away

[15:09] {Threei}  willing to try, let's hunt

[15:09] {dino} disagree

[15:09] {jfjf64} i  lk  that vad

[15:09] {dino} up then down to new lows

[15:09] {larisa} :)

[15:10] {dino} and ty larisa

[15:10] {Threei}  FAS still holding above 10

[15:10] {magoo} if so vad..spy candidate

[15:10] {dino} ebix

[15:11] {Threei}  just take half lot FAS as close to 10 as you are comfortable, and keeop stop rifght under it

[15:13] {dino} clmt

[15:14] {dino} lod

[15:14] {dino} eqix too

[15:16] {wulff} in .06

[15:17] {dino} ebix sm l .60

[15:19] {Threei}  half out FAS

[15:19] {wulff} scalp

[15:19] {Threei}  ofering 1/4 more .25

[15:20] {wulff} LAter dudes and dudettes

[15:20] {Threei}  take care wulff

[15:20] {Threei}  wait!!

[15:20] {Threei}  see my .25 getting hit

[15:20] {Threei}  now go :)

[15:21] {Threei}  offering last portion .45

[15:21] {wulff} apparently scalp was too hasty

[15:21] {nemo} I'm off see ya mornin'

[15:21] {Threei}  out .45

[15:21] {dino} ok to -90 then drop

[15:22] {dino} cya nemo

[15:22] {magoo} nice vad {but not thankin u he he}

[15:22] {Threei}  that's 'cause you didn't trust i my rally

[15:22] {Threei}  if you did, you'd have gottent 40 cents out of this one

[15:22] {magoo} I DID

[15:22] {Threei}  but nooo... no one believes me...

[15:22] {magoo} plus wfc .35 to ./64

[15:23] {Threei}  who was that... "can't get any respect"

[15:23] {Threei}  forgot the name

[15:23] {magoo} magoo?

[15:23] {magoo} mags?

[15:23] {Threei}  lol

[15:23] {magoo} goober?

[15:23] {Threei}  dangerfield

[15:23] {Threei}  rogerfield

[15:23] {dino} darn bwld hit stop and went 70 more

[15:25] {jfjf64} vad got his  groove on   ty

[15:26] {Threei}  you did the trade jf?

[15:26] {jfjf64} y

[15:26] {Threei}  cool beans

[15:26] {jfjf64} fas .08

[15:27] {magoo} how come u dont care if magoo did? :)

[15:27] {jfjf64} to .22

[15:27] {Threei}  ummm

[15:28] {Threei}  I care mags

[15:28] {Threei}  but I mask it

[15:28] {dino} clmt l .10, stop .98

[15:28] {Threei}  I can't risk my reputation of heartless bastard

[15:28] {Threei}  I built it over so many years

[15:29] {Threei}  and you with your broken ankle is exactly the subject I should be kicking and punching. before you got better

[15:29] {dino} inbalances are buy side fwiw

[15:29] {Threei}  how about finnies?

[15:29] {magoo} specifically finnies

[15:29] {magoo} 'bac wfc

[15:29] {dino} yes

[15:29] {jfjf64} how bout  

[15:29] {Threei}  yeah, that was rhetoric question

[15:30] {Threei}  how about those finnies

[15:30] {Threei}  told ya, rally last hour

[15:30] {magoo} havent rallied yet boss

[15:30] {dino} ugh wrld

[15:30] {Threei}  BAC almost a dollar

[15:30] {magoo} true

[15:30] {Threei}  FAS about 60 cents

[15:30] {jfjf64} comon pullback kid

[15:30] {magoo} so u meant finnie

[15:31] {Threei}  it's BANK stress tests results today mags

[15:31] {Threei}  finnies is where th trap is

[15:31] {Threei}  US HOUSE PASSES MORTGAGE LENDING RULE LEGISLATION; BORROWERS MUST PROVE THEY CAN REPAY MORGGAGES

[15:31] {Threei}  - Requires lenders to be licensed and seeks national standards for home mortgage lending{XHB XLF}

[15:32] {dino} here come thev new lows

[15:32] {jfjf64} pru

[15:35] {dino} switched to sell side

[15:35] {magoo} the games :(

[15:35] {Threei}  BAC

[15:35] {Threei}  nice pullback watching for bounce again

[15:35] {magoo} trickery in the pits

[15:36] {Threei}  in

[15:36] {Threei}  .52

[15:36] {Threei}  stop under .45

[15:37] {Threei}  funny jumps

[15:38] {Threei}  out .51

[15:38] {Threei}  shrug

[15:39] {magoo} the foolery in the pits

[15:40] {Threei}  second attempt

[15:41] {Threei}  .51 in

[15:41] {Threei}  offering above .60

[15:41] {Threei}  out

[15:43] {dino} out clmt .24, +.14

[15:43] {magoo} out

[15:43] {magoo} dammmit..ok..THANK u vad

[15:44] {Threei}  tough job eh mags?

[15:45] {magoo} ive had worse he he

[15:45] {magoo} but i do not recall; having to say it so mucxh and so often 

[15:45] {magoo} NICE work..u da man

[15:46] {Threei}  I am sure.. last person trying to call me da woman is buried on another continent

[15:46] {dino} eqix sm l .00

[15:47] {magoo} in tundra i bet

[15:50] {dino} out eqix .40, +.40

06[15:51] * magoo slaps dino around a bit with a large trout

[15:51] {dino} ebix to .38 stuck

[15:51] {dino} lol magoo

[15:52] {dino} tyhese are the markets i like, chaos

[15:52] {Threei}  not sure I have partience to sit and wait an hour for stress test results

[15:52] {dino} baseball, no can do, gotta hop at 4

[15:52] {Threei}  if I don't fall asleep, don't have anything better to do etc, may get back to comoutrer in an hour

[15:53] {Threei}  outta be fun

[15:53] {dino} to .45

[15:53] {Threei}  kay guys, thank you all

[15:54] {Threei}  have a good evening, see you tomorrow

[15:54] {larisa} later :)

[15:54] {dino} u2 vad

[15:54] {dino} thc

[15:54] {magoo} bye vad:)

[15:54] {patience} thanks vad

[15:54] {jfjf64} good night lot of fun  today    $$   lol

[15:54] {jfjf64} bac

[15:55] {dino} gj jf

[15:55] {dino} well i was backwards, new lows now -90

06[15:56] * Threei drums his chest

[15:57] {Threei}  (US) 19 BANKS UNDERGOING STRESS TESTS LIKELY TO START RAISING CAPITAL OR REPAY TARP LOANS - WSJ

[15:57] {Threei}  {XLF}

[15:57] {Threei}  wth does it even mean

[15:58] {Threei}  or to keep in tune with Stewie theme I should have said wtd

[15:58] {dino} out ebix .50 -.10

[15:59] {dino} lol

[16:01] {dino} thx all gn