Aug 06 2009

Beautiful morning with 4 winning trades on HIG and BAC, then one stop on HIG, and a lot of nothing on the afternoon. Read the trades and explanations to them as we managed to insert some educational content as well.

Session Time: Thu Aug 06 00:00:00 2009

[08:13] {Threei} Preview: Initial Jobless Claims and Continuing Claims due out at 8:30amET

[08:13] {Threei} - Expectations for initial claims are 580K v prior release of 584K (range seen from 550K to 600K)...more...

[08:16] {Threei} AIG... eeck

[08:16] {nemo} OMG

[08:16] {nemo} How do you trade that?

[08:16] {Threei} you don't

[08:17] {nemo} kinda' rhetorical question

[08:17] {Threei} unless you gamble, but then it won't last long

[08:17] {Threei} (US) Obama administration considering reorganization of Freddie Mac and Fannie Mae - Washington Post

[08:17] {Threei} - Companies' troubled assets would be pooled into a govt-sponsored corporation (related FNM FRE AIG XLF IEF TLT SHY EUR/USD EUR/JPY USD/JPY GBP/JPY GBP/USD USD/CHF SPY GLD DIA )

[08:17] {Threei} hiow is it different from what we have today?

[08:17] {Threei} FRE and FNM ARE govt-sponsored corporations

[08:18] {Threei} AIG Stock trading up another $6 on no apparent new news (22.00, 0.00, 0.00%)

[08:18] {Threei} yeah, we noticed

[08:24] {nemo} Mmmmhhhh...I wonder if AIG is being thought of as a FNM FRE?

[08:26] {Threei} NDAQ Exec: notes they are in talks with regulators about flash trading; NDAQ began flash trading in June (21.66, 0.00, 0.00%) (related NYX )

[08:26] {cosmo} AIG's Blames "Perfect Financial Storm" For Its Woes, Cites "Run On the Bank"

[08:26] {cosmo} In A New Twist On Cause Of Collapse

[08:26] {nemo} So it wasn't stupid management?

[08:27] {cosmo} didm't say....

[08:27] {Threei} AIG is effectively insurance company

[08:27] {cosmo} didn't

[08:27] {Threei} know any that would survive all their customers filling claims at the same time?

[08:27] {nemo} always was, but they're sponsored by the government

[08:30] {Threei} INITIAL JOBLESS CLAIMS: 550K V 580KE; CONTINUING CLAIMS: 6.310M V 6.250ME

[08:36] {nemo} market shrugging off the unemployment report so far

[08:36] {jfjf64} mornin

[08:37] {Threei} jf :)

[08:56] {Threei} AIG dropped almost 4 points from high

[08:56] {nemo} why didn't we short? :)

[08:56] {Threei} 3 more and it's actually back in close, lol

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

[08:57] {nemo} hi lari

[08:57] {Threei} larisa :)

[08:57] {larisa} nemo, vad :)

[09:02] {JohnK} gm folks

[09:02] {Threei} John :)

[09:05] {fernp} good morning everybody

[09:06] {Threei} fern :)

[09:08] {wulff} just stole .80 from AIG

[09:09] {Threei} :)

[09:09] {jfjf64} nice wulff

[09:09] {wulff} can't trade today, so I feel good about that

[09:18] {ese} good morning.......

[09:19] {Threei} ese :)

[09:21] {Threei} US) White House Econ Adviser Romer: Remains reasonable to predict positive GDP growth by the end of 2009

[09:21] {patel} good morning

[09:21] {Threei} so... what's our next AIG?

[09:21] {Threei} patel :)

[09:22] {nemo} AIG

[09:23] {Threei} this kind of moves rarely happens in vacuum... traders start looking, and usually find, the next name to run ina similar fashion

[09:23] {ese} aig has to be the ultimate short cover......that was pretty amazing to watch yesterday

[09:23] {Threei} well, amazing thing is, it didn't it have that many shorts in it

[09:24] {nemo} 18% or so

[09:24] {Threei} 18% of float was shorted according to July numbers

[09:24] {Threei} whihc is nice to squeeze of course

[09:24] {Threei} but it's not anywhere close to numbers that could warrant ssuch move

[09:28] {Threei} HIG Completes Discretionary Equity Issuance Plan, raising size to $900M from $750M (16.50, 0.00, 0.00%)

[09:29] {nemo} bac moving

[09:29] {Threei} HIG too

[09:30] {jfjf64} hig wow

[09:31] {Threei} Long Setup: HIG .50 break

[09:31] {Threei} if stays above .35

[09:31] {Threei} not a scalp for me

[09:32] {ese} in

[09:32] {jfjf64} in .52

[09:33] {Threei} half out .84

[09:33] {JohnK} great trade HIG thx T :)

[09:33] {Threei} 1/4 more out 18.03

[09:33] {ese} out .04

[09:33] {jfjf64} tytyty

[09:33] {ese} +.50......thank you vad

[09:33] {Threei} stop to b/e for the last piece

[09:34] {Threei} that was my "next AIG" play for the first 5 minutes

[09:34] {Threei} can I go hopme?

[09:35] {nemo} that was too wild for me

[09:35] {jfjf64} .35 break bac ya lk vad

[09:35] {Threei} it was wild on profitable move side... entry was quite normal

[09:35] {ese} yes you may go home.......

[09:35] {Threei} best kind

[09:35] {Threei} enter calmly, dump into crazy jump

[09:36] {ese} question now is.......where will it settle and when to get back in again

[09:36] {jfjf64} ditto that was great stuff

[09:37] {Threei} so rry jf, I am not ingoring you, it's just that BAC answered question by itself

[09:37] {Threei} HURN...

[09:38] {jfjf64} you cd ignor mee no prob +48 cents too start day keep ignor in me

[09:38] {Threei} Long Setup: HIG .60 break if holding .,50

[09:39] {jfjf64} in

[09:39] {Threei} 1:1

[09:39] {Threei} half out

[09:40] {Threei} or scalp

[09:40] {Threei} can't tell this time

[09:40] {jfjf64} all outr

[09:40] {JohnK} thx again T, great trade

[09:40] {Threei} welcome

[09:40] {Threei} jeez, where is magoo

[09:40] {Threei} this is his style trades, he will cry like a baby

[09:40] {jfjf64} ty pls ignore me one more time

[09:40] {Threei} lol

[09:41] {nemo} not after the week he's had

[09:41] {Threei} you clearly don't know magoo very well

[09:41] {nemo} He's probably out shopping for Dino's new computer

[09:41] {Threei} "nevcer enough" is his mortto

[09:42] {jfjf64} met l .40 break

[09:42] {Threei} mistype 2 words out of every 3 is mmine, obviously...

[09:42] {ese} zion off like a rocket

[09:43] {Threei} yeah, traders go over financial names looking for the next AIG

[09:43] {ese} pick a financial institution ....any financial institution

[09:44] {cosmo} tobacco plantations

[09:44] {jfjf64} mbi 6.90 break

[09:45] {jfjf64} in .92

[09:45] {ese} hig Long at .80 vad?

[09:45] {jfjf64} stop

[09:45] {Threei} I'd like it to consolidate closer tyo it ese

[09:46] {Threei} as it stands, srtop would have to be under .60

[09:46] {Threei} a bit too wide for my taste

[09:46] {ese} ok

[09:47] {jfjf64} mbi l .95 stop .80

[09:49] {ese} most financial institutions heading down....blow off top

[09:49] {ese} fitb -.46

[09:49] {ese} etc etc

[09:49] {magoo} morn, running late]

[09:49] {Threei} awwww

[09:50] {jfjf64} invalid mbi

[09:50] {magoo} DO NOT SAY IT:)

06[09:50] * Threei slaps magoo around a bit with a large roll of missed profits

[09:50] {Threei} lookie here mags, after 50 cents move on a first opening trade in a matter of seconds after entry:

[09:51] {Threei} [09:40] {Threei} jeez, where is magoo

[09:51] {Threei} [09:40] {Threei} this is his style trades, he will cry like a baby

[09:51] {Threei} 09:41] {nemo} not after the week he's had

[09:51] {Threei} [09:41] {Threei} you clearly don't know magoo very well

[09:51] {Threei} [09:41] {Threei} "nevcer enough" is his mortto

[09:51] {Threei} 1:2 for those who partialled HIG

[09:52] {magoo} im crying here like a baby..SERIOUSLY

[09:52] {Threei} I know :(

[09:52] {jfjf64} ddr break .82

[09:52] {Threei} HIG opening break, you would be all over it

[09:52] {cosmo} HURN won't die...holding 15.20

[09:52] {magoo} see, i like to make it when we can..never enough

[09:52] {Threei} see this long tail over 18?

[09:53] {Threei} that's where we exited

[09:53] {magoo} AIG too...AW SIGH

[09:53] {Threei} well, AIG doesn't pain me

[09:53] {Threei} that was beyond normal read

[09:53] {Threei} and well beyond normal risk

[09:54] {magoo} any read RIMM here?

[09:54] {ese} HURN looks like a great long bet cos

[09:54] {Threei} RIMM{ not so much

[09:54] {Threei} jf's MBI is of some interest though

[09:54] {Threei} report was not so rosy by it,

[09:54] {Threei} yet it gapped up,

[09:55] {Threei} and look at its daily

[09:55] {cosmo} ese....i think i killed it ...sigh

[09:55] {ese} nawwww....this one will bounce back

[09:55] {Threei} it breaks 7 - 7.10 zone, there is nothing up to 8

[09:55] {cosmo} needs to hold 15 imo

[09:56] {ese} yes agreed

[09:56] {Threei} and if it takes 8, 11 is next, and minor, resistance

[09:56] {Threei} to me, it's now a matter of whether traders consider it "next AIG"

[09:56] {ese} am gonna wait for this one to settle cos.....i'd like to go long on it

[09:57] {ese} higher low in conjunction with market and off it will go

[09:57] {magoo} AIG crashed 3 points

[09:57] {Threei} yeah, it does it now and then, lol

[09:57] {cosmo} hmmm

[09:58] {jfjf64} need market bounce in this ddr

[09:58] {magoo} HIG pulls bk

[09:58] {ese} if i can get drys closer to 6 as well....i'm gonna buy a crap load of that also

[10:02] {ese} vad tell me what you think of SCHW when you get a chance.....one of them consolidating at the highs things

[10:03] {Threei} I like it with market help ese

[10:03] {ese} tks .....

[10:04] {magoo} BAC vad..bouncer

[10:04] {Threei} yes

[10:04] {Threei} usual method of hunting

[10:04] {Threei} .70 break

[10:04] {Threei} stop under .60

[10:05] {ese} l schw .02

[10:05] {Threei} under .64 for extreme scalpers

[10:05] {ese} small

[10:05] {Threei} 1:1 for those pesky extreme scalpers

[10:05] {fernp} ty vad

[10:05] {Threei} 1:1 for the rest

[10:05] {Threei} nice and easy

[10:05] {magoo} in .67 out .82 DL TY BOSS

[10:05] {Threei} hehe

[10:05] {Threei} magoo's revenge

[10:06] {Threei} I envision him buying BAC with scream "that's for missed HIG!!!"

[10:06] {magoo} i was yelling "run forest run" really

[10:06] {Threei} 1:2

[10:07] {Threei} you know this way of bottom hunting guys, just never forget:

[10:07] {Threei} doing this you must be ready for multiple tries

[10:07] {Threei} and that might hurt

[10:07] {Threei} if you are not, do it in a different fashion:

[10:08] {magoo} MBI vad, take a look

[10:08] {Threei} be ready to miss THE bottom, and watch for bottoming formation,

[10:08] {Threei} like double bottom

[10:08] {Threei} not delighted by MBI

[10:09] {Threei} let me explain the thought process

[10:09] {Threei} MBI at this point becomes a failed breakout play,

[10:09] {Threei} it was looked at as possible runner,

[10:09] {Threei} it failed,

[10:09] {Threei} no major attention to it until and unless it retirns to 7 and breaks it,

[10:10] {Threei} so it kind of becomes a food for small pikers till then,

[10:10] {Threei} and that's not who we want to try and profit from.

[10:10] {Threei} that's hard competiton for every 5 cents

[10:10] {Threei} we want big fish to come in and run things

[10:11] {Threei} then we have kind of movement and volume giving us our risk/reqards

[10:11] {Threei} rewards too

[10:11] {Threei} here comes BAXC for p[ossible double bottom

[10:12] {Threei} BAC

[10:12] {Threei} perfect

[10:12] {Threei} same setup

[10:12] {Threei} .70 break

[10:12] {Threei} if holding above .60

[10:12] {Threei} same stop for extreme scalpers as last time too

[10:13] {Threei} and same outcome once again

[10:13] {Threei} 1:1 for pesky scalpers

[10:13] {Threei} 1:1 for the rest

[10:13] {fernp} ty again

[10:13] {Threei} welcome again

[10:13] {nemo} figures, my executor was disconnecte

[10:14] {Threei} you had total interenet disconenction

[10:14] {Threei} [10:03] * nemo (m.ierardo@jtc-16ae938f.ma.comcast.net) Quit (Ping timeout: 121 seconds)

[10:14] {nemo} could see the charts and LII, couldn't enter order

[10:14] {Threei} usually losing connector in such cases

[10:14] {nemo} logging in again now

[10:14] {ese} atvi....pattern right out of vads book........ummmmmm maybe slightly tighter consolidation

[10:16] {Threei} don't go for BAC this time

[10:16] {Threei} it's only on a surface that it loks like the same thing third time

[10:16] {Threei} in reality it's more likely to fail

[10:16] {Threei} there, new low

[10:17] {nemo} short?

[10:17] {Threei} don't know

[10:18] {cosmo} GLBL firm

[10:18] {Threei} back to MBI:

[10:19] {Threei} now that it reached 6, resiastance from yesterday

[10:19] {Threei} it has a chance to put bottom in and become a bounce play

[10:19] {Threei} what I want to see is prolonged consolidation,

[10:19] {Threei} forming of a nice solid resistance level

[10:19] {Threei} then breaking it while never losing 6

[10:20] {magoo} AIG crshed

[10:20] {Threei} jf... you asked for 3 for 3 yesterday

[10:20] {Threei} we got 4 for 4

[10:21] {nemo} 2 higs and bac, what was the other?

[10:21] {Threei} BAC twice

[10:21] {nemo} oh yeah, my internet failure

[10:22] {Threei} this MBI move is not to my liking

[10:23] {magoo} io just raped AIG for a point ..in .60 out 23.63 IM BACK

[10:24] {magoo} im having such a great week i hope dino never comes bacvk...he must be bad luck

[10:25] {Threei} lol

[10:25] {ese} schw strong against market

[10:25] {magoo} better edit that one boss..he reads them some times he he

[10:27] {ese} come on drys........down just a little bit more

[10:27] {larisa} I think dino will like this one, vacation forever, no magoo... :)

[10:27] {cosmo} GLBL waits patiently for mkt reversal

[10:27] {cosmo} me thinks

[10:28] {cosmo} 8.65 hod

[10:29] {magoo} that does it larisa ............

06[10:29] * magoo slaps larisa around a bit with a large trout

[10:29] {nemo} tough magoo

[10:30] {ese} cos....is there a price target on GLBL

[10:30] {nemo} rimm base building

[10:31] {cosmo} should hold 8.30 to stay interesting

[10:31] {ese} CNBC's Faber: Reiterates that move over past two sessions does not appear to be news related; Speculates short squeeze (23.41, +1.41, 6.41%)

[10:31] {ese} duuuhhh......

[10:31] {nemo} yep rimm base built

[10:32] {magoo} yea..and they call him "the brain" for those astute observations

[10:33] {ese} schw....there she blows

[10:36] {ese} stop to break even

[10:39] {cosmo} GLBL tests

[10:41] {ese} out schw .13 +.11

[10:43] {larisa} wow HIG

[10:44] {larisa} 17.20 bottom looks nice now :)

[10:44] {larisa} I got a signal 17.35. DID not take it silly

[10:44] {magoo} yea..was looking at it on cross of .50..missed it

[10:45] {Threei} so... HIG will be new AIG{ looks like

[10:45] {larisa} crossing .50 good wntry too with .43 support

[10:45] {ese} bstop drys .41

[10:45] {Threei} yeah, acts like it

[10:45] {magoo} yea vad..gotta watch if IF traders want to run it 8 points

[10:45] {Threei} picks up the pace, tajkes out resiatnces

[10:46] {Threei} pullbacks are well supprted

[10:46] {cosmo} GLBL tests .65 resistance

[10:46] {cosmo} could hit 9 .....

[10:49] {Threei} okay... in

[10:49] {Threei} stop under .50

[10:49] {Threei} risky as hell

[10:49] {nemo} hig?

[10:49] {Threei} yeah

[10:50] {Threei} can take a few tries

[10:50] {ese} L drys by the way...sorry .39

[10:50] {Threei} but if goes, not selling first partial tll near 19

[10:50] {magoo} i got your back vad..willl follow u anywhere

[10:51] {Threei} no worky

[10:52] {Threei} deeper pullback will be next chance hopefully

[10:52] {Threei} if it breaks from here, it's a shakeout... tough to find re-wentry on those

[10:55] {Threei} .30 break long if stays above .20

[10:55] {Threei} again - stay away if not ready for a few tries

[10:55] {ese} HMIN....heres one i haven't heard of before up +5.5

[10:57] {ese} L fuqi .00 small

[11:00] {chiro} L amgn 61.02

[11:01] {cosmo} GLBL should hold 8.50 ... or its time to walk the dogs

[11:01] {Threei} recalibrating HIG

[11:01] {Threei} .25 break

[11:02] {Threei} stop under .10

[11:02] {magoo} in

[11:03] {ese} fuqi uki......butting up against 28.00 nicely

[11:03] {Threei} 1:1

[11:06] {Threei} losing momo

[11:07] {Threei} not looking good for a big run so far

[11:14] {Threei} US TARP Inspector General: Some recipients of TARP did not necessarily meet quantitative criteria (related XLF )

[11:20] {ese} out fuqi .01 +.01 even....it ain't goin nowhere

[11:22] {ese} rats cos....was watching other things and missed the runup in HURN

[11:33] {ese} nice run for schw

[11:34] {Threei} yup

[11:37] {nemo} cat is up with the $...interesting

[12:03] {_prth} what is your take on the rsi indicator?

[12:03] {Threei} as any of them,

[12:04] {Threei} useful as far as you understand the underlying price action and use it as a visual help to interpret it,

[12:04] {Threei} useless and even harmful if you expect it to tell you what to do.

[12:04] {nemo} the 3i indicator is better

[12:07] {_prth} for example on bac coming down right now looking for a bounce off the low of the day with the rsi dipping below 30 and going above, if it never gets there then no trade

[12:08] {chiro} rimm ..ndl

[12:13] {patience} prth, i use rsi as a substitute for reading level 2 (there's logic in there somewhere). point is, rsi works most of time except for full moon like today, it's august, and euphoria can last longer than common sense. i shorted Teck few days ago based on rsi and took until today to make my profit....sorry, long post

[12:17] {_prth} takes forever because I only take it in the direction of the day and only get 1 or 2 set ups, so today I would only take a long on bac and yes the 3i indicator is way better

06[12:17] * Threei takes a bow

[12:18] {Threei} here is something for you guys and gals to enjoy for the next few minutes, jf excluded:

06[12:18] * magoo slaps Threei around a bit with a large trout

[12:18] {Threei} http://www.realitytrader.com/photography/2009/08/treasures-in-your-own-backyard.html

[12:18] {Threei} patience, ese... for you especially :)

[12:18] {Threei} all images are clickable

[12:19] {patience} life is good here :)

[12:21] {dptl} good morning all

[12:21] {Threei} dp :)

[12:21] {Threei} another late sleepers missing beautifl plays

[12:21] {ese} it sure is patience....nice pictures vad. Was that around the San Juan islands or on the west coast of the island

[12:21] {dptl} no fishing again ..just got back :)

[12:21] {ese} or was that just in fromt of dps house?

[12:22] {Threei} just off Sidney

[12:22] {ese} I didn't kn ow that the sea lions hung out there.....cool

[12:24] {ese} where did the tour originate from....victoria or Sydney?

[12:25] {Threei} Sindey, dock at the bottom of Beacon Ave

[12:26] {ese} couple of miles up the road from you....perfect

[12:28] {ese} is the tour specific.....or will they take you anywhere that you would like to go?

[12:29] {Threei} This one is specicifc but ZI understand they do charter as well

[12:50] {magoo} vad..we in anything?

[12:51] {Threei} coma

[12:51] {nemo} beat me to it

[12:51] {Threei} (predictable answer, but then again, you knew it when asked)

[12:51] {nemo} certain things must be routine

[12:58] {magoo} vad..HIG gets active

[12:58] {Threei} White House press secretary Gibbs: GSE reform will be part of the financial market regulation overhaul, but no meeting specific to reforming Fannie and Freddie is planned

[12:58] {Threei} - says any decision on reform for the GSE's is "light years away."

[12:58] {Threei} - reminder: The Washington Post reported this morning that the Obama Administration is considering reorganization of Freddie Mac and Fannie Mae.

[12:58] {Threei} - On Korea, Gibbs insists no change in US policy toward North Korean nuclear program following President Clinton's mission.

[12:59] {jfjf64} what up guys steped away

[12:59] {Threei} oh, just some new pics for you jf

[12:59] {jfjf64} ahhhhhhhhhhhhhhhhhhhhh

[12:59] {jfjf64} not pics

[12:59] {jfjf64} lol

[13:01] {ese} pitty the people who bought AIG close to 30 thinking it was gonna still keep heading up

[13:03] {magoo} no..they all sold out

[13:05] {Threei} ummm

[13:05] {Threei} to whom? :)

[13:05] {jfjf64} ago .20 break

[13:10] {jfjf64} invalid

[13:29] {ese} well she wouldn't get kicked out of Disneyland

[13:29] {Threei} who?

[13:30] {nemo} belle

[13:30] {ese} belle

[13:30] {Threei} gosh... you guys... :)

[13:30] {Threei} you keep those mesages in main window?

[13:30] {nemo} didn't know you could remove them

[13:30] {ese} keep ....keep....they just show up

[13:31] {Threei} mine are in status

[13:31] {Threei} why clutter #discussions

[13:31] {larisa} lol

[13:32] {jfjf64} .15 break ago

[13:32] {nemo} how do you remove it

[13:32] {nemo} on what jf?

03[13:32] * Retrieving #discussions modes...

[13:33] {jfjf64} AGO

[13:33] {Threei} lol

[13:33] {nemo} yuk yuk yuk

[13:38] {jfjf64} this ago died on me ohh well

[13:53] {jfjf64} .84 short ago

[13:53] {nemo} which stock :)?

[13:57] {jfjf64} half out

[13:58] {jfjf64} all out

[14:01] {jfjf64} grrrr

[14:02] {nemo} draw a trend line next time

[14:08] {jfjf64} .55 l ago

[14:09] {nemo} Hasn't broken trend why going long?

[14:09] {larisa} nemo, did you know not all people trading using trend lines ? :) there are million systems out there :)

[14:10] {jfjf64} bounce time

[14:10] {nemo} I was asking why, that's all, had been staying under the BB ma

[14:11] {jfjf64} ty larissa

[14:11] {larisa} I understand. Always amazes me, how 2 people can look at same stock and have opposite view what to do with it

[14:12] {nemo} that's why I was asking "why?"

[14:12] {larisa} lol

[14:12] {jfjf64} vad ya in coma

[14:12] {Threei} always

[14:12] {Threei} why?

[14:13] {jfjf64} no reason

[14:13] {larisa} will market bounce vad ?

[14:13] {larisa} :)

[14:13] {larisa} and when and why

[14:13] {Threei} then, why you ask... and why nemo asked why... so many why's, my head hurts

[14:14] {Threei} and where is Billy

[14:14] {nemo} I didn't ask you vad

[14:14] {Threei} why?

[14:14] {Threei} I mean, thank you

[14:14] {nemo} because jf made the call

[14:15] {jfjf64} nemo needs a drink

[14:15] {nemo} you were in coma

[14:15] {nemo} don't drink

[14:15] {jfjf64} lol

[14:15] {Threei} as if my being in coma ever prevented anything

[14:15] {jfjf64} sd i tk my 1/1 nemo

[14:15] {jfjf64} lol

[14:16] {larisa} I want bounce now!

[14:16] {nemo} kewl

[14:16] {nemo} what did you see jf?

[14:16] {jfjf64} how is trend line

[14:16] {nemo} gone

[14:16] {jfjf64} lol

[14:16] {nemo} what did you see to call that?

[14:17] {jfjf64} nada gut sometimes it works

[14:17] {nemo} sorry I asked

[14:17] {jfjf64} lked the V on the chart

[14:18] {nemo} I thought maybe the volume spike but there had been several before that

[14:20] {jfjf64} done

[14:20] {nemo} thought you'd get 1:2

[14:21] {jfjf64} i always run away too soon

[14:22] {jfjf64} thats my problem

[14:22] {nemo} do you see my footprints as you're leaving?

[14:22] {jfjf64} profit is profit

[14:23] {jfjf64} that is hard part of this gm

[14:24] {jfjf64} watchin chk

[14:24] {jfjf64} .35

[14:25] {jfjf64} .35 break

[14:26] {jfjf64} vad 5 cent stop ok with this

[14:28] {Threei} a bit too tight...

[14:28] {Threei} I don't see real support above .25

[14:29] {jfjf64} ty

[14:31] {ese} zzzzzzzzzzzzzzzzzzzzz ahem....ummm ya ya ahhh well done jf zzzzzzzzzzzzzzzzz

[14:33] {nemo} gotta' go. cya

[14:34] {Threei} why?

[14:34] {ese} zzzzzzzzzzzzzzz ahem....ummm ya ya ahhh ya cya nemo zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[14:34] {jfjf64} sxci .71 break

[14:35] {magoo} HIG crosses 18 vad

[14:35] {Threei} no mags

[14:35] {Threei} need more consolidation

[14:36] {Threei} it can turn a trap just as easy

[14:36] {magoo} k

[14:39] {jfjf64} chk invalid here

[14:43] {jfjf64} sxci invaid

[14:49] {jfjf64} .84 s hig

[14:55] {jfjf64} .95 l hig

[14:56] {jfjf64} break

[14:56] {jfjf64} in

[14:59] {jfjf64} cant get out of own way

[15:06] {jfjf64} comon sale hig

[15:10] {jfjf64} 1/1 hig

[15:10] {magoo} nice

[15:10] {dptl} have a good evening all

[15:10] {jfjf64} halfout

[15:10] {larisa} hope you used trendline :)

[15:11] {fernp} you too dp

[15:11] {jfjf64} stop .95

[15:11] {jfjf64} stop .05

[15:13] {jfjf64} out

[15:13] {larisa} nice

[15:13] {jfjf64} ty

[15:13] {jfjf64} trend line work

[15:14] {larisa} lol

[15:14] {larisa} they do actually, did not mean to upset nemo :)

[15:15] {jfjf64} all good

[15:26] {jfjf64} good night all

[15:27] {Threei} take care jf

[15:27] {fernp} good nite jf

[15:28] {jfjf64} yankkee/boston series here startin tonight busy with tickets

[15:39] {Threei} guess who is on TV

[15:42] {ese} well alrighty then......i'm still long my position in drys at .40.....gonna keep it....see you all tomorrow.....

[15:42] {Threei} take care ese

[15:42] {ese} see ya vad....

[15:42] {fernp} good evening all. see u tomorrow

[15:43] {Threei} fern :)

[15:44] {magoo} i have an apptmt...greatr day tY boss

[15:44] {magoo} bye all

[15:44] {Threei} taake care mags

[15:44] {Threei} I don't think we intend to take any more trades today

[15:44] {Threei} and everyone scrams

[15:44] {Threei} let's call it a day?

[15:44] {magoo} but u will now to rub it in right?

06[15:45] * magoo slaps laserdave around a bit with a large trout

06[15:45] * magoo slaps laserdave around a bit with a large trout

06[15:45] * magoo slaps laserdave around a bit with a large trout

[15:45] {larisa} bye all :)

[15:45] {Threei} nah... I embrace kinder and gentler self

[15:45] {Threei} larisa :)

[15:45] {Threei} thank you all, have a good evening

[15:45] {Threei} see you tomorrow

Aug 05 2009

Nice and steady day, with profitable trades on BAC, LLTC, RIMM, AIG and stops on NVAX and HEV. Some nice momentum plays occur in financials.

Session Time: Wed Aug 05 00:00:01 2009

[08:26] {dptl} good morning all

[08:38] {Threei} Good morning

[08:39] {dptl} :)

[08:40] {dptl} dptl -} sleepless in vancouver

[08:41] {Threei} lol

[08:41] {dptl} :)

[08:43] {magoo} morn

[08:43] {Threei} magoo :)

[08:45] {magoo} whatcha lookin at?

[08:45] {Threei} finnies are green

[08:45] {Threei} BAC... WFC...

[08:46] {magoo} yea..they closed strong

[08:46] {magoo} hows monestasry :)?

[08:47] {Threei} won't tell... you'll all follow me and crowd the premises

[08:47] {Threei} anyone tried GETCO route?

[08:47] {magoo} no..is it supposed to be better?

[08:49] {Threei} it's free

[08:49] {Threei} no ECN fee

[08:50] {dptl} does it hit everything?

[08:50] {Threei} I don't know

[08:50] {Threei} did you see a n opening inforblurb?

[08:51] {Threei} they cite fill rate

[08:51] {dptl} yes

[08:51] {magoo} did GGC report this morn? can u check?

[08:51] {Threei} Yesterday 18:31 GGC Reports Q2 -$2.13 v -$11.25e, R$524M v $550Me

[08:51] {Threei}

[08:53] {JohnK} gm folks

[08:54] {larisa} good morning :)

[08:56] {dptl}

[08:56] {Threei} john, larisa :)

[08:58] {larisa} vad, dp :)

[08:59] {dptl} lots of talks about flash trading this morning on the news

[09:00] {Threei} someone does great job throwing distractions in

[09:02] {fernp} good morning everybody

[09:02] {Threei} fern :)

[09:04] {ese} gooooooooooood morning!

[09:04] {Threei} ese :)

[09:05] {ese} anything new and exciting......ladies and germs

[09:06] {Threei} new day

[09:07] {ese} thas exciting for sure

[09:07] {Threei} FITB tries to trade over yeasterday's high

[09:07] {ese} suppose to get some rain today here on the island

[09:08] {JohnK} where are you ese?

[09:09] {ese} victoria , British Columbia Canada

[09:09] {ese} et vous?

[09:10] {JohnK} je suis at New Jersey, USA :-)

[09:12] {ese} ahhhhh.....Lou Solof.....the trumpet player from the Blood Sweat and Tears band lives there.......he's a very close friend of my university professor mentor

[09:12] {nemo} What gooees up....

[09:13] {ese} must come down.....spinin wheel gotta ta go round.....what a great tune

[09:19] {ese} grmn....+5.73.......hmmmmmm....lots of people lost i quess

[09:19] {jfjf64} mornin all

[09:19] {Threei} jf :)

[09:20] {jfjf64} lets go 3-0 out of box

[09:20] {Threei} Garmin Ltd Reports Q2 $0.83 v $0.51e, R $669M v $657.1Me

[09:20] {Threei} - Q2 gross margin 52.6% v 44.9% q/q

[09:20] {Threei} - Q2 North America revenue $436M v $265M q/q

[09:20] {Threei} - Q2 Europe revenue $198M v $144M q/q

[09:20] {Threei} - Q2 Asia revenue $35M v $28M q/q

[09:28] {nemo} ese...saw BST in a little club in Bavaria in 1984

[09:28] {nemo} or was it David Clayton Thomas...oops...too many beers

[09:28] {Threei} BAC looks to be a candidate for the first play

[09:29] {magoo} watch wfc too

[09:31] {cosmo} ACAS

[09:31] {cosmo} gonna test

[09:31] {cosmo} wants 3

[09:32] {Threei} Long Setup: BAC 16 break if holding 15.90

[09:32] {Threei} (US) Treasury's Barr: Sense of free fall in economic indicators has ended

[09:32] {Threei} - Should not provide a gov approved model for rating agencys

[09:32] {Threei} - Oversight of credit ratings agencies need to be done on evolving basis

[09:33] {Threei} SOLR Hearing upgraded to Hold from Reduce rating at Boutique firm

[09:34] {Threei} Long Setup: BAC 15.90 break if holding 15.85

[09:34] {ese} bstop yhoo .78

[09:35] {ese} in

[09:35] {nemo} in

[09:35] {patel} in

[09:35] {jfjf64} in

[09:36] {Threei} over 1:1 for scalpers

[09:36] {fernp} ty vad

[09:36] {Threei} :)

[09:36] {nemo} out ty

[09:36] {JohnK} good trade BAC thx T

[09:37] {BillyD} ty Vad

[09:37] {Threei} welcome guys

[09:37] {Threei} guess who is on TV

[09:37] {magoo} look whos on tv

[09:37] {nemo} clinton

[09:37] {Threei} you wish

[09:37] {nemo} he just got bak from PRNK

[09:37] {Threei} BAC 1: my math abilities are not enough

[09:38] {jfjf64} tty

[09:38] {wulff} +.30

[09:38] {nemo} 1:5

[09:38] {jfjf64} x l .20

[09:38] {magoo} i missed it too..computer froze

[09:38] {patel} n ice call on BAC

[09:38] {patel} still holding on to 100 shares

[09:38] {nemo} you could miss the week after yesterday mags

[09:39] {nemo} you get the duct tape for Dino's system?

[09:39] {jfjf64} all out x

[09:39] {jfjf64} +8 cents

[09:39] {ese} out yhoo .84 +.06

[09:40] {Threei} watching WFC for pullback entry

[09:40] {Threei} just under 27 would be nice

[09:41] {cosmo} FWLT hod = 27 ....so far

[09:42] {Threei} Long Setup: LLTC .50 break if stays above .40

[09:43] {ese} L HBAN .62

[09:43] {fernp} in

[09:44] {patel} in

[09:44] {nemo} missed

[09:44] {Threei} VNDA??

[09:44] {jfjf64} .65 break break ese im takin ese

[09:44] {Threei} 1:1 LLTC

[09:45] {fernp} ty vad

[09:45] {Threei} welcome

[09:46] {JohnK} LLTC :) too thx again T

[09:47] {patel} 2 for 2 baby

[09:47] {patel} thats what i'm talking about

[09:47] {patel} great calls this morning

[09:47] {jfjf64} nice one more vad

[09:48] {nemo} one?

[09:48] {Threei} [09:20] {jfjf64} lets go 3-0 out of box

[09:48] {BillyD} mkt sell off

[09:48] {jfjf64} ty vad

[09:48] {jfjf64} nemo sleepin

[09:48] {ese} out HBAN .67 +.05

[09:49] {wulff} WFC pullback

[09:49] {nemo} sorry, up all night

[09:50] {Threei} Long Setup: NVAX 5.40 if holding above .30

[09:50] {wulff} so much for lltc

[09:51] {nemo} in

[09:51] {cosmo} FWLT hod = 27.55 ....so far

[09:52] {ese} I want HBAN again ....just am deciding where

[09:52] {jfjf64} ese

[09:52] {Threei} FITB back into yesterday's high

[09:53] {jfjf64} in .68

[09:53] {jfjf64} need push

[09:53] {ese} would prefer a deeper pullback but if not will take .65 break this time

[09:54] {ese} hmmmmmmm might rethink this....financial index now down

[09:56] {ese} anybody in NVAX.....thats on my radar

[09:57] {nemo} yes

[09:57] {Threei} stopped

[09:57] {nemo} just got stopped

[09:57] {Threei} sorry jf... 2 out of 3

[09:57] {wulff} had high hopes for NVAX

[09:57] {BillyD} NVAX true to form

[09:57] {Threei} market dropped pulled it

[09:58] {jfjf64} wfmi .56 break

[09:58] {BillyD} good risk reward

[09:58] {jfjf64} in

[09:59] {jfjf64} 1/1

[09:59] {jfjf64} half out

[10:00] {Threei} JULY ISM NON-MANUFACTURING COMPOSITE: 46.4 V 48.

[10:00] {Threei} JUNE FACTORY ORDERS: 0.4% V -0.8%E

[10:00] {ese} l mee .48

[10:01] {jfjf64} out

[10:02] {ese} out mee .20 grrrrrrrrrr=.28

[10:02] {ese} -.28

[10:02] {jfjf64} stoped hban

[10:03] {nemo} nice drop amzn

[10:03] {jfjf64} rdn .40 breal

[10:03] {BillyD} RDN is starting a CC right now JF ...fyi

[10:04] {nemo} a cc?

[10:04] {BillyD} conference call

[10:04] {nemo} oh

[10:04] {BillyD} after eps

[10:04] {jfjf64} in .43

[10:06] {jfjf64} out 3 cents no lk cc

[10:13] {Threei} Long Setup: RIMM .60 if stays above .45

[10:14] {jfjf64} in .65

[10:14] {magoo} in .58

[10:14] {jfjf64} slippy

[10:14] {JohnK} too fast for me

[10:15] {Threei} 1:1

[10:15] {jfjf64} go go go go

[10:17] {jfjf64} great vol

[10:18] {jfjf64} all out

[10:18] {jfjf64} ty vad

[10:19] {tomg} ty vad

[10:19] {Threei} welcome guys

[10:24] {ese} L hban.50

[10:26] {magoo} u reading GRMN boss?

[10:26] {Threei} 33 break is obvious setup

[10:26] {Threei} volatile...

[10:26] {jfjf64} wfmi break of 30.00

[10:26] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET

[10:26] {Threei} **consensus expectations:

[10:26] {Threei} Crude: +800Ke

[10:26] {Threei} Gasoline: -1Me

[10:26] {Threei} Distillate: +1.2Me

[10:27] {jfjf64} in .03

[10:28] {jfjf64} gets passed .13 gettin paid

[10:28] {magoo} AXL moves

[10:29] {Threei} AXL CFO: Lowering break even levels to 6K axles per day; on track to accomplish goal by end of 2009 - conf call

[10:29] {Threei} - believe 1H 2009 will be the low point in production volumes.

[10:29] {nemo} looks like oil numbers might be bullish

[10:29] {Threei} 8 ball?

[10:30] {nemo} nevermind erx dropped must be bearish

[10:30] {jfjf64} vad

[10:30] {Threei} DOE CRUDE: +1.67M V +800KE

[10:30] {nemo} really dropped

[10:30] {jfjf64} 8 ball

[10:30] {Threei} GASOLINE: -220K V -1ME; DISTILLATE: +1.1M V +1.2ME; CAPACITY UTILIZATION: 84.5% V 84.4%E.

[10:31] {nemo} aig in a good mood today

[10:32] {Threei} yeah

[10:32] {Threei} 14 break in retrospect was no brainer

[10:32] {Threei} didn't watch it at the time

[10:33] {nemo} only got 3i's

[10:33] {jfjf64} need 4i

[10:34] {Threei} AXL some enthusiasm...

[10:36] {jfjf64} this wfmi drivin me crazy hv stop at .85

[10:37] {jfjf64} showin strong

[10:39] {Threei} a lot of talk about 2B investment in car batteries development

[10:40] {Threei} I have ABAT on top of my memory

[10:40] {Threei} anything else?

[10:40] {BillyD} can't remeber

[10:41] {BillyD} can't spell either

[10:41] {Threei} welkome to ze klub

[10:42] {jfjf64} jpm vad ya lk 41 break or traap

[10:42] {Threei} with stop under .90, it's a valid try

[10:43] {jfjf64} too fast pass

[10:44] {Threei} 1:1

[10:44] {Threei} the way to enter this kind, when it's a bit too fast on a break, you don't want to chase and don't want to get filled on the way back when it's exhausted

[10:44] {jfjf64} reads there fingers too slow

[10:44] {Threei} enter limit at the price you are willing to chase to,

[10:45] {Threei} let's say 41.03

[10:45] {ese} are you in jpm jf?

[10:45] {jfjf64} nope

[10:45] {Threei} if it gets you in, fine, play it from normal risk reward ratio point of view,

[10:45] {Threei} if miss, keep an order in for a fill on pause BUT

[10:45] {ese} that was a good call

[10:45] {Threei} cancel it if a stock reaches 1:1

[10:46] {jfjf64} makes sence even with 2500 to 3000 shares

[10:46] {jfjf64} ??

[10:46] {Threei} you may still want it if it pauses and pulls back slightly from let's say 41.05 - 06

[10:46] {Threei} but if it reaches 1:1 and drops all the way back into trigger, it's a different ballgame,

[10:47] {Threei} you now need to re-evaluate whether a play still valid as conservative entry

[10:47] {Threei} or it was just a scalp and it's ovewr

[10:47] {Threei} as a first idea what to look for:

[10:47] {ese} yes

[10:47] {Threei} if it drops back into 41, stalls,

[10:47] {ese} quick in and out

[10:48] {Threei} makes little move up and down between 41 and 41.05

[10:48] {Threei} you may want a new entry on .05 break,

[10:48] {Threei} but the huge difference with original idea will be:

[10:48] {Threei} your stop now is under 41, not under 40.90 as it would be with original entry

[10:48] {Threei} see what I mean by saying it's a new game?

[10:49] {jfjf64} thanks i follow

[10:50] {patel} Threei, thoughts on T

[10:50] {Threei} I'll try hood, fake mostauge and dark sunglasses tomorrow... will see how successful you are then

[10:50] {jfjf64} lol

[10:51] {Threei} T... I don't see anything but short at .70

[10:51] {Threei} if stays under .80

[10:51] {patel} yes i like it short below 70

[10:51] {patel} 10 cents risk

[10:51] {patel} are you seeing that

[10:51] {jfjf64} double bottom lower vad or bounce market

[10:51] {Threei} that's what I said patel :)

[10:51] {Threei} rather breakdown and further down jf...

[10:52] {patel} lol

[10:52] {Threei} ahha

[10:52] {Threei} newswire heard me and answered:

[10:52] {Threei} (US) US Administration: To give out approx $2.4B to US automakers to develop advanced auto/vehicle batteries (related ABAT JCI ALTI HEV F GM F.IT F )

[10:53] {jfjf64} aig

[10:53] {BillyD} ALTI was the one I couldn't remember

[10:53] {Threei} yeah but looks like total POS

[10:53] {jfjf64} pos

[10:53] {BillyD} I remembered that part from past

[10:53] {Threei} US) Treasury Dept: Need to act in a way that clearly shows the market that Govt is set on serious financial reforms

[10:54] {Threei} this statement is wrong in so many ways, I don't even know where to begin

[10:54] {Threei} need to act in a way to show something?

[10:54] {Threei} if you ARE serious about it, why not just proceed and do it?

[10:54] {Threei} or,

[10:54] {jfjf64} looks breakout comin

[10:55] {Threei} you guys see yourself as entity that must teach market about something?

[10:55] {Threei} or resist it?

[10:55] {Threei} or fight it?

[10:56] {Threei} this is so indicative of their very way of thinking... "we need to show the market that we are serious about controlling it"...

[10:56] {Threei} {--- back to monastery

[10:56] {jfjf64} show me da money cd give 2 s t

[10:57] {jfjf64} fas c/h .10 break

[10:58] {ese} L jpm .06

[10:59] {patel} Threei, BK break of 29 with a 10 cents risk???

[10:59] {jfjf64} in .13 on pbk vad

[10:59] {patel} or would it be chasing it here

[10:59] {jfjf64} 1/1 fas

[10:59] {Threei} hard to tell BK

[10:59] {Threei} it's kind of 50/50 but risk is small

[11:00] {jfjf64} out

[11:01] {jfjf64} later guys gotta run

[11:01] {magoo} grtmn dump

[11:01] {Threei} take care jf

[11:02] {jfjf64} to da bank boys lol

[11:02] {Threei} CNP Applies for $200M Federal Stimulus Grant to Accelerate Current Smart Meter Project and Begin Building Self-Healing Grid

[11:02] {Threei} - If granted, CenterPoint Energy Houston Electric will use $150M of the requested $200M grant to accelerate its current smart meter and associated equipment installation that make up its Advanced Metering System (AMS).

[11:02] {Threei} - The $50M balance will be used to accelerate the installation of the first phase of CenterPoint Energy Houston Electric''s Intelligent Grid (IG) that utilizes the AMS and other technologies to build a self-healing grid, and improve operational efficiency and reliability.

[11:03] {Threei} NY Fed: Purchased $7.25B in $300B outright coupons purchase; Dealers submitted $17.91B for consideration (bid to cover 2.47)

[11:03] {Threei} - Heaviest purchase was $4.1B in the 05/31/14 maturity

[11:09] {magoo} AIG

[11:10] {tomg} CAT

[11:10] {ese} out pjm .23 +.17

[11:10] {ese} takes a bit of a dent out of that mee trade

[11:11] {Threei} AIG is serious

[11:11] {ese} i know he's gone but thanks jf

[11:12] {ese} wow is it ever

[11:12] {nemo} volumes are all around 1.5X average on indexes

[11:15] {BillyD} Vad, WFC got any life over 27?

[11:15] {Threei} most likewly yes

[11:15] {BillyD} is it worth it to you

[11:15] {nemo} R1 @ 27.30

[11:17] {magoo} anyone cattch AIG?

[11:17] {Threei} Goldman Sachs note today states Goldman on Friday raised its US GDP forecast

[11:17] {magoo} so fast, i alerted but had to focus'

[11:18] {Threei} I think so Billy

[11:18] {Threei} want to see market help of course

[11:19] {BillyD} can you believe it...step away for water and miss it lol

[11:19] {Threei} lol

[11:19] {Threei} water... humanity's eternal enemy

[11:20] {Threei} wait... that was beer

[11:20] {Threei} or vodka

[11:20] {BillyD} it breaks w/out mkt help

[11:20] {BillyD} oh well

[11:21] {magoo} jpm working nicely

[11:40] {Threei} watching CNP, trying to get a feel whether it's preparing for a run

[11:41] {magoo} BAC highs

[11:41] {magoo} neatr

[11:41] {magoo} near

[11:51] {magoo} vad u read AIG?

[11:54] {Threei} there is no technicals to it

[11:54] {Threei} momo runner

[11:54] {Threei} either you get a feel for momop continuation or not,

[11:54] {ese} mags are you long jpm?

[11:54] {Threei} and risk is well beyond average tolerance

[11:56] {Threei} guess who is on TV

[11:57] {BillyD} T may be resets for short

[12:01] {magoo} i was off vads call @ .10, out now jpm

[12:01] {magoo} id cut it

[12:01] {magoo} will pullbk

[12:05] {ese} nice one mags where did you get out?

[12:07] {Threei} HEV big pullback

[12:12] {BillyD} AXL

[12:12] {BillyD} what ya think Vad on .50

[12:12] {Threei} AIG... feels like going to 18

[12:12] {ese} L drys .66

[12:14] {Threei} 18 on the nose

[12:14] {magoo} stealking my thunder

[12:15] {Threei} I am good at stealking

[12:15] {nemo} up 33% on no news

[12:15] {Threei} no idea Billy... 3 was more or less legit

[12:15] {BillyD} ty

[12:15] {Threei} 3.50 is way too high for my yaste

[12:15] {Threei} taste

[12:17] {nemo} 20 for aig?

[12:18] {magoo} i hit it 18 to 19.02 AIG

[12:18] {magoo} 2k

[12:19] {magoo} A

[12:19] {magoo} I

[12:19] {magoo} G

[12:20] {ese} nice mags.......trader after my own heart

[12:22] {magoo} i been crushing them lastt 2 days..just feelin the ,momo

[12:22] {magoo} i alert or ask vad, but no way to call it

[12:22] {Threei} yup

[12:22] {Threei} great job nonetheless

[12:22] {magoo} i could kill someone if they dontknow how to "feel" it

[12:22] {BillyD} lol

[12:23] {magoo} im a momo trader

[12:23] {magoo} and ill take sizer

[12:23] {magoo} size

[12:23] {ese} no i like "sizer"

[12:23] {ese} thats lingo man lingo

[12:24] {magoo} what i need to take is typiong lessons

[12:24] {Threei} u may vant to asq me abut me typein teechear

[12:24] {ese} and you have been killin it these last couple of days....good on ya

[12:25] {magoo} i hit thatt GGC for like 8 points yestrday

[12:25] {magoo} short of coutrse

[12:25] {ese} i know....that was amazing

[12:25] {ese} even more amazing........

[12:26] {magoo} but see..i could have went against me 20 points so npo way i could call it for room

[12:26] {magoo} its a widow maker

[12:26] {ese} like russian submarines

[12:26] {ese} they used to call them widow makers

[12:28] {magoo} but..if IF i ask vad or put up a symbol..it means i am looking at it..and usually going

[12:29] {Threei} and if I say "risky as hell", magoo doubles his share size

[12:29] {magoo} vad, nice call WFC off 27

[12:29] {magoo} just cut it .48

[12:29] {Threei} :)

[12:29] {magoo} well..risk IS our businezz correct

[12:30] {larisa} no:)

[12:30] {ese} i'm still long hban at .50 by the way

[12:30] {larisa} maintaining it is :)

[12:30] {magoo} more risk ..more reward

[12:30] {magoo} with a dash of setup..a smidge of control..and a whole lotta luck

[12:31] {Threei} and prayer

[12:31] {Threei} and chicken entrails

[12:31] {Threei} and the bone from bat's ear

[12:31] {magoo} thats why agree with ese yesterday..i am stressed all time :)

[12:32] {magoo} i functioned in a constant streess environmt

[12:32] {nemo} aig setting up short?

[12:32] {magoo} not avail laser

[12:32] {ese} odd......i'm not feeling stressed as much today as yesterday and i'm down about $800

[12:32] {magoo} u taking vads advice and drinking?

[12:33] {larisa} AIG earnings on Friday, intersting how high it can go

[12:33] {ese} heavily

[12:33] {dptl} yep vodka might help magoo

[12:33] {ese} and dp's advice as well.....smoothe vodka

[12:33] {dptl} he he :)

[12:34] {ese} vads advice was vodka...dp's...make it smooth vodka

[12:34] {Threei} 71% Say Obamas Policies Have Driven Up Deficit

[12:34] {Threei} 54% Favor Middle Class Tax Cuts Over New Health Care Spending

[12:35] {Threei} those are damning numbers

[12:36] {JohnK} look right to me :)

[12:38] {ese} ya and it just damned my profit in habqan

[12:38] {ese} hban

[12:39] {ese} sheesh

[12:41] {ese} how bout uaua

[12:50] {Threei} HEV Hearing Kaufman Bros. making positive comments; Maintains Buy rating, price target $9 (timing uncertain) (7.08, +0.56, 8.59%)

[12:57] {ese} OK technical point.....this is the seventh day of a narrow range 7 for drys......theoretically this thing should just up from here based on that last earnings report.......

[12:57] {ese} jump

[13:00] {Threei} IPXL Receives Final FDA Approval for Generic Depakote Extended-Release 500mg Tablets

[13:00] {Threei} - FDA has granted final approval of the Companys Abbreviated New Drug Application for generic versio... (27.48, +0.98, 3.70%) more...

[13:01] {Threei} AIG Trading up 40% on no apparent news

[13:01] {Threei} - note that AIG is scheduled to report earnings on Friday morning and has already said it will not h... (18.85, +5.33, 39.42%) more...

[13:04] {Threei} believe it or not...

[13:05] {Threei} AIG looks like new consolidation

[13:05] {Threei} for another runup

[13:08] {Threei} UQM Awarded $45.1 Million Grant from the U.S. Department of Energy to Accelerate the Deployment of the Next Generation of Electric Vehicles

[13:11] {Threei} easiest money I've made today

[13:11] {nemo} on what?

[13:11] {Threei} 5.06 - 5.45

[13:12] {nemo} oh

[13:12] {nemo} what stock

[13:12] {larisa} lol

[13:12] {Threei} sigh

[13:12] {larisa} I thought you talking AIG

[13:12] {nemo} me too

[13:12] {Threei} nemo... look at this line by me about money made... then slowly gently lift your line of sight by just 2 lines

[13:13] {nemo} ok

[13:14] {dptl} lol

[13:15] {Threei} AIG, look at the dance it did for 10-15 min just above 17, at roughtly 12:00 - 12:15

[13:15] {Threei} did pretty much the same around 19 when I made that comment

[13:15] {Threei} and exploded from there again

[13:18] {Threei} 20 in sight

[13:19] {Threei} AIG Investor Relations: Not aware of any news to account for today's stock move (32.81, -0.59, -1.77%)

[13:19] {Threei} Notes that outside of the CEO succession and confirming earnings date, has no additional information

[13:23] {magoo} out .91 TY vad on AIG alert

[13:23] {magoo} nice one

[13:24] {BillyD} gj

[13:24] {Threei} :)

06[13:25] * magoo slaps Threei around a bit with a large trout

[13:25] {Threei} :(

[13:25] {magoo} the monastery is working for u

[13:25] {ese} nice one mags

[13:25] {magoo} u kickin butt today vad

[13:27] {Threei} (US) FHFA's Lockhart to reportedly step down soon - unconfirmed report (related FNM FRE )

[13:29] {nemo} aig, this is just incredible

[13:30] {Threei} giant squeeze

[13:31] {nemo} what was the short ratio?

[13:32] {magoo} bak in ittttttttttttt

[13:32] {Threei} not overly high...

[13:32] {Threei} Short Percent of Float 18.81 %

[13:32] {Threei} July info

[13:32] {nemo} no, so how the squeeze

[13:33] {Threei} just mass husteria then

[13:33] {Threei} hysteria

[13:34] {BillyD} overall a good thing for mkt trader confidence

[13:34] {Threei} mags... don't overstay your welcome

[13:34] {BillyD} some momo to return hopefully

[13:34] {Threei} when it's done it won't give much chance for orderly exit

[13:34] {Threei} not to women, not to children, not to elderly

[13:35] {magoo} oh sorry out .42 from .40 +point

[13:36] {Threei} good

[13:36] {Threei} not even speaking of halt possibility

[13:36] {magoo} OH DO NOTEVEN SAY ITTT

[13:42] {ese} vad is that AIG's float your talking about thas short?

[13:42] {magoo} man..can u imagine old school wall street who sold in may and went away vad

[13:43] {Threei} yes ese

[13:43] {Threei} lol mags

[13:43] {ese} that would explain a few things

[13:43] {Threei} just proves that most of those "tested and proven" sayings is bs

[13:43] {nemo} guess the welcome isn't over

[13:43] {Threei} what everyone knows isn't worth knowing

[13:44] {nemo} yeah, but this ain't your old school market

[13:49] {Threei} VZ) Venezuela's Chavez: may nationalize any companies that break laws; do not have a set list of sectors that will be nationalized

[13:49] {Threei} - says lawful private companies can continue on

[13:49] {Threei} - Reminder: yesterday Chavex commented that would expropriate certain coffee companies

[13:50] {Threei} cool

[13:50] {Threei} company breaks law - nationalize it

[13:50] {ese} Out drys .75 +.09

[13:50] {larisa} or execute like they do in China :)

[13:51] {Threei} or both

[13:51] {larisa} World is too funny lately

[13:51] {magoo} 22.96 was the reverse split high AIG before it was crushed

[13:51] {nemo} or pass a law and retroactively charge them

[13:55] {ese} Out HBAN .56 +.06 it a good day

[13:55] {ese} it's

[13:56] {nemo} gotta' go...c u 2 morow insha Alah

[13:57] {larisa} bye nemo :)

[13:57] {ese} i'm with ya nemo.......see you all tomorow......getting ready to go to Copenhagen Denmark

[13:57] {Threei} Long Setup: HEV .85 - .90

[13:57] {Threei} if holding above .80

[13:58] {Threei} .75 is a bit better stop technically but I am trying to keep it in scalping framework risk qwise

[13:59] {Threei} take care ese

[14:04] {Threei} if it goes, planning to sell half above 7 and see about secind half - maybe offer it into eod run closer to 7.20, maybe even hold some overnight

[14:07] {Threei} VP and cabinet fan out to hold townhall meetings and speeches about recovery plan success

[14:07] {Threei} do these guys ever stop campaigning?

[14:07] {Threei} someone should have told them election is over

[14:11] {Threei} (US) SEC's Schapiro confirms evaluation of 'flash trading' and the surrounding inequity associated with the trading - CNBC interview

[14:11] {Threei} - Notes that the SEC is moving 'quite decidely' toward banning flash trading, but still must move through regulatory process, so can not be done instantaneously.

[14:22] {JohnK} nice scalp HEV, thx T :)

[14:23] {patel} u still plan on keeping it to 7

[14:23] {patel} threei

[14:26] {Threei} ?

[14:26] {Threei} did anything change?

[14:27] {Threei} no go

[14:27] {JohnK} got in at .85, out at .89

[14:27] {patel} that is a very strange stock man

[14:27] {patel} just dropped pretty hard

[14:28] {JohnK} thin market

[14:28] {JohnK} small shares

[14:28] {Threei} FDIC's Bair: Should implement pay standards on insured banks to encourage long term performance- interview comments

[14:28] {Threei} - Comments that banking system confidence is improving

[14:28] {Threei} - reform on pay should be through principles, wary of setting dollar limits

[14:29] {Threei} HEV CEO: It is not an issue to raise capital; currently in negotiations for $480M worth of low cost loans

[14:29] {Threei} - Seeing increasing battery annual revenue to $2.25M in 2015 if can attain 5-12% of battery market (6.85, +0.33, 5.06%)

[14:30] {dptl} Vad did you try that getco today?

[14:30] {Threei} no, I still haven't updated version

[14:31] {dptl} ye me too....but want to check with Dave first he usualy knows everything

[14:33] {Threei} not really... I asked me recently about production of ivory buttons in South Argentina in 19th century, he had no idea

[14:33] {dptl} but he is prob. drinking today :)

[14:33] {Threei} asked him

[14:33] {dptl} lol

[14:33] {magoo} we in anything vad?

[14:34] {Threei} nope

[14:34] {patel} stalking anything???

[14:34] {magoo} sell from hell AIG..not in..but it double topped

[15:05] {jfjf64} s aig 21.05

[15:05] {magoo} ICOG vad

[15:06] {Threei} I don't have news

[15:06] {Threei} anyone?

[15:06] {magoo} prob break thgose trades

[15:07] {fernp} no news here

[15:07] {Threei} shrug

[15:08] {jfjf64} grr

[15:08] {Threei} May 16 last news on it, filing for bakruptsy

[15:10] {magoo} we in anything?

[15:10] {magoo} fell asleeop

06[15:10] * Threei slaps magoo around a bit with a large alarm clock

[15:13] {Threei} heh... HEV shakeout

[15:13] {Threei} some stocks just have dishusting manners, I noticed...

[15:13] {Threei} who brought them up like this

[15:15] {patel} that shakeout was wrong

[15:15] {patel} i took a pretty big hit on that one

[15:17] {Threei} original stop was 5-7 cents, with slippage could have easily been about 12 on that

[15:18] {patel} i got hit for about 13 cents

[15:18] {Threei} if this is big hit for you, you should really re-think share size and/or trading thin stocks altogether

[15:18] {Threei} I mean come on... 13 cents equals big hit??

[15:18] {Threei} what kind of profits are you aiming for?

[15:19] {magoo} how many shares u take?

[15:19] {patel} i didnt get hit bad but it turned my profit for the day near 0

[15:19] {patel} i only took 400 shares

[15:19] {magoo} vad, u or i??

[15:19] {Threei} I don't understand it

06[15:20] * magoo slaps Threei around a bit with a large trout

[15:20] {Threei} something isn't right with trade/risk management

06[15:20] * magoo slaps patel around a bit with a large trout

06[15:20] * magoo slaps patel around a bit with a large trout

06[15:20] * magoo slaps patel around a bit with a large trout

[15:20] {patel} we talked earlier about it and it seems i am paying 2 much in commissions.

[15:23] {dptl} ok....have a good evening all,see ya tomorrow

[15:23] {Threei} doesn't sound like that's the only issue... something else is off

[15:23] {Threei} tajke care dp

[15:24] {_prth} 400 shares does not give you enough profit to scale

[15:25] {Threei} not really, unless it's a big mover

[15:26] {Threei} it's either training size, or a size for a very volatile stock

[15:26] {Threei} where risk control doesn't allow for tight stosp

[15:27] {_prth} and setting hard stops will get him taken out at a really bad fill depending on broker

[15:27] {patel} i stopped using hard stops

[15:27] {Threei} yikes

[15:27] {Threei} no way

[15:28] {magoo} but .13 cents on 400 is 52 bux correct?

[15:28] {patel} i was using hard stops but few days ago AKAM took me out

[15:28] {patel} and went up

[15:28] {patel} yes

[15:28] {patel} okay i traded BAC made over 90 dollars ont hat trade

[15:28] {_prth} so where did nvax fill at on the stop this morning and add commissions to that

[15:29] {patel} then i took LLTC made about 18 dollars on that

[15:29] {patel} then i got stopped on NVAX

[15:29] {Threei} hard stop is for the case whn you have to leave your computer unattanded

[15:29] {Threei} better than no stop at all

[15:29] {patel} and hten i got stopped otu for HEV

[15:29] {Threei} but when you can contorl events, use manual one

[15:30] {patel} slippages on NVAX was 5 cents

[15:30] {patel} slippage on HEV was about 4 cents

[15:30] {Threei} 18 dollars on LLTC?

[15:30] {patel} yes

[15:30] {patel} i took 200 off hte table on 1:1

[15:31] {patel} then put the rest at breakeven

[15:31] {patel} i am not complaining its just I need to know what I am doing wrong and make my trade management better

[15:34] {_prth} the percentage of dollars is high on commissions when trading smaller size if paying a flat rate, if you use per share cost platform then it be more cost effective with smaller size

[15:35] {patel} prth, i am paying .01 cents a share

[15:36] {Threei} that's twice the rate we are paying

[15:37] {Threei} great... now HEV is doing what I envisioned

[15:38] {_prth} that is $10 for a thousand shares, do you pay ecn fees too?

[15:38] {Threei} ECN is pass-through both ways for us

[15:38] {Threei} fee or rebate, dependinh on removing or adding liquidity

[15:39] {_prth} is patel with the same broker?

[15:39] {Threei} no

[15:40] {Threei} he pays .01/shre... we .005

[15:40] {magoo} which is more lol

06[15:40] * Threei slaps magoo around a bit with a large large abakcus since calculator is too complicated for magoo

[15:40] {_prth} well that is a big difference especially for scalping size

[15:41] {jfjf64} l met .05 break

[15:42] {patel} yup

[15:42] {patel} no ecn fees

[15:42] {patel} i get rebates and everything

[15:42] {patel} pretty much the same as you guys but the commisisons is doubled

[15:42] {Threei} hmmm... no fees but rebates?

[15:42] {patel} yes

[15:43] {Threei} something isn't right :)

[15:43] {patel} as long as I am sending the order through PFSI i pay no fees

[15:43] {patel} but i have to use INTEL and ARCAL for rebates

[15:43] {patel} what kind of fees do you have to pay threei

[15:43] {Threei} on add liquidity side only

[15:44] {Threei} you can do it using GETCO route for entry and ECN for exit with Laser

[15:44] {jfjf64} in

[15:44] {patel} pj plau

[15:45] {patel} oh okay

[15:47] {jfjf64} grrr

[15:51] {jfjf64} 21.83 l aig

[15:52] {jfjf64} in 88

[15:53] {jfjf64} .25cent stop

[15:56] {jfjf64} 1/1 half out

[15:56] {jfjf64} stop 22.00

[15:57] {Threei} you are azware of time remaining, right?

[15:57] {jfjf64} all out

[15:57] {Threei} good

[15:57] {Threei} thank you all, much better day today

[15:57] {Threei} have a great evening, see you tomorrow

[15:57] {magoo} ty vad..everybody

[15:58] {jfjf64} enjoy vad ty

[15:58] {larisa} bye :)

[16:00] {patience} look vad, the Trout Group is closing the Nasdaq .... what a good name :)

[16:00] {Threei} ROFL

[16:00] {patience} i wonder what they do for a business?

[16:00] {patience} where's magoo....

[16:02] {magoo} here

Aug 04 2009

One of those days when things just don't work. One nice win on VRTX long for +.35 and three stops around .10 each. With partialling out on a winner, still a red day.

Session Time: Tue Aug 04 00:00:00 2009

[08:36] {BillyD} GM all

[08:36] {Threei} Good morning

[08:43] {Threei} Treasury publishes bank stats on loan modifications: BoA began trial modifications on only 4% of eligible loans

[08:43] {Threei} - Citimortgage trial modifications started at 15% of all elligible loans. JPM rate at 20%.

[08:43] {Threei} - CNBC's Liesman comments that this data release is essentially meant to "shame" banks into stepping up their loan modifications.

[08:44] {Threei} CAT Guides 2010 profit better than that of 2009

[08:44] {nemo} wondering why that jumped

[08:46] {Threei} DARA Along with America Stem Cell, Inc. to Collaborate On Stem Cell Research (0.27, 0.00, 0.00%)

[09:02] {Threei} (US) FDIC's Bair: Still sees no need for unified banking regulator, still opposed to President Obama's regulatory overhaul

[09:02] {Threei} - Note that some of these comments were leaked during the European session.

[09:02] {Threei} still?

[09:02] {Threei} I never heard they were

[09:04] {Threei} (US) Sen Dodd: Not sure if 3 Federal Agencies are needed to regulate banks

[09:04] {Threei} why... the more the merrier

[09:05] {BillyD} the blind are trying to lead.....they overlook their faults in managing the finaces of this country but try and regulate everything else

[09:06] {Threei} fox and henhouse...

[09:07] {Threei} I'll never understand how Fed's very existence, let alone giving them increased powers, can be justified, with glaring conflict of interests

[09:09] {cosmo} ... like greed....

[09:09] {ese} good morning.............

[09:09] {Threei} cosmo, ese :)

[09:09] {ese} morning vad......

[09:10] {ese} correction begins today maybe?

[09:10] {Threei} anyone's guess, really

[09:10] {Threei} whole lot of people call for correction during whole rally

[09:10] {cosmo} ese...you go to that edmonton concert ?

[09:11] {ese} ya.....that was pretty funny.....

[09:11] {cosmo} i went to one like that once too

[09:11] {ese} the one where the stage colapsed?.....no

[09:11] {Threei} my approach if simple

[09:11] {ese} my mother lives close to there

[09:11] {Threei} it's over when it's over, not when everyone says it's over

[09:11] {Threei} we will see it with our very eyes

[09:12] {Threei} and trade accordingly

[09:12] {cosmo} i saw little richard collapse a stage many years ago...

[09:12] {magoo} morn

[09:12] {cosmo} he broke his arm...

[09:12] {ese} in deed vad

[09:12] {Threei} magoo :)

[09:12] {fernp} good morning everybody

[09:12] {Threei} fern :)

[09:12] {ese} colapse......from exhaustion?

[09:13] {magoo} u watching UBS vad?

[09:13] {magoo} what else

[09:13] {cosmo} jumping on the piano with the audience

[09:14] {Threei} not finding much to watch so far mags

[09:14] {Threei} CAT

[09:14] {ese} wow...

[09:14] {cosmo} everybody come on up....

[09:15] {cosmo} ended the concert before contry joe and the fish could play

[09:15] {cosmo} country

[09:15] {ese} was it a good concert?

[09:15] {ese} to that point?

[09:16] {cosmo} hmmm..... i forgot...

[09:17] {cosmo} lots of arrests for lighting incense....

[09:17] {cosmo} geez

[09:18] {ese} thats funny cos

[09:18] {cosmo} last concert at the olympic .... downtown L.A.

[09:19] {dptl} good morning all

[09:19] {Threei} dp :)

[09:19] {ese} dp

[09:20] {dptl} :)

[09:23] {Threei} NTWK...

[09:23] {Threei} little news and nice daily

[09:23] {Threei} NTWK Wins New Mexican Contract to Implement Award Winning Financial Suite With Leading Global Auto Manufacturer

[09:23] {Threei} - terms not disclosed (1.02, 0.00, 0.00%)

[09:23] {Threei} probably nothing to get excited about

[09:25] {Threei} KERX

[09:25] {Threei} Keryx Biopharmaceuticals Inc Settles license dispute with Alfa Wassermann

[09:25] {Threei} - The Company and Alfa Wassermann S.p.A. have settled a dispute over issues arising from the terminated license agreement for Sulonex (sulodexide). Under the terms of the settlement agreement, Alfa Wassermann is paying Keryx $3.5M (of which $2.75M has already been received by Keryx and $750K is to be paid to Keryx on or before July 30, 2010), and Keryx shall deliver to Alfa Wassermann all of its data, information and other intellectual property related to Sulonex.

[09:26] {Threei} ONTY gapped into 6.90 area, retreated to close level now

[09:26] {Threei} that's all I've got so far

[09:26] {Threei} slim pickings

[09:27] {Threei} KERX, if consolidates a little between .70 and .80 maybe worth try for a break

[09:34] {ese} cvs...might be worth a look vad

[09:34] {Threei} Short Setup: RIMM .40 break half lot

[09:34] {Threei} if stays below .60

[09:35] {Threei} CVS earnings and guidance earlier

[09:35] {Threei} CVS Guides Q3 EPS $0.62-0.64 v $0.76e, Rev +19-21% y/y (implies R$24.87-25.29B v $26.5Be) - conf call (34.00, 0.00, 0.00%)

[09:35] {Threei} CVS Guides FY10 EPS "to grow 13-15% y/y" (implies $2.93-3.39 v $3.01) - conf call

[09:35] {Threei} - CEO: "Would be disappointed if FY10 guidance did not grow 13-15% over 2009 levels, but we hav... (34.00, 0.00, 0.00%) more...

[09:36] {Threei} looks to me like short on .50 break

[09:36] {Threei} Short Setup: CVS .50 break

[09:36] {Threei} if stays under .65

[09:38] {nemo} damn

[09:38] {BillyD} missed

[09:38] {Threei} over 1:1 in a hurry

[09:38] {ese} short cvs

[09:38] {BillyD} yeah good one

[09:38] {nemo} it went from not triggered to 1:1

[09:38] {ese} out cvs

[09:38] {nemo} good for you

[09:39] {Threei} back into trigger

[09:39] {Threei} first wekness from here

[09:39] {Threei} for second chance entry

[09:39] {Threei} nope, over resistance now

[09:39] {ese} no i buggared that up....lousy fill

[09:40] {ese} filled .33 covered .49 only a 100 shs though

[09:40] {Threei} yikes

[09:40] {Threei} what is it, market orders??

[09:40] {ese} still learning to short.....was not quick enough on that lost 20.00 bucks

[09:41] {ese} yes

[09:41] {Threei} don't do market orders

[09:41] {Threei} ever

[09:41] {BillyD} I reshorted it into .54 and got popped -.20

[09:41] {Threei} that's the kind of fills tyou will be getting on real size too

[09:41] {ese} you got it ...that was mistake 1 i guess

[09:42] {Threei} Preview: Jun Pending Home Sales due out at 10amET

[09:42] {Threei} -***consensus expectation

[09:42] {Threei} - MoM 0.7%e v 0.1% prior (May)

[09:42] {Threei} - analyst estimates range from -1.2% to +3.0%

[09:42] {Threei} WFC

[09:42] {Threei} bounce play

[09:43] {Threei} Long Setup: WFC .37 if stays above .30

[09:44] {BillyD} in .37

[09:44] {fernp} in

[09:48] {Threei} no worky

[09:49] {Threei} shakeout...

[09:50] {fernp} y

[09:50] {Threei} what's with JADE?

[09:50] {wulff} CAT short

[09:56] {ese} cvs.....cool move

[09:56] {fernp} LVS breakout, Vad?

[09:56] {Threei} hard to tell

[09:57] {Threei} something isn't right about it

[09:57] {fernp} ok, ty

[09:58] {Threei} looks like it follows WYNN

[09:58] {Threei} and WYNN starts pulling back

[09:59] {ese} L MYL .54

[10:00] {Threei} JUNE PENDING HOME SALES (M/M): 3.6% V 0.7%E

[10:02] {nemo} frickin wfc

[10:02] {Threei} yeah

[10:02] {nemo} cat break cup

[10:02] {Threei} embodiment of rudeness

[10:03] {Threei} Long Setup: SBUX .50

[10:03] {Threei} if stays above .40

[10:03] {Threei} .45 for hardcore scalpers

[10:04] {nemo} my loss in WFC ended up being less than the stop, I double tapped the sell, ended up going short, made a couple of cents

[10:04] {Threei} lol

[10:05] {nemo} big order @.50 on sbux

[10:06] {Threei} (US) Fed's Tarullo: The Fed has not taken a position for or against establishment of financial consumer protection agency - Senate testimony (related XLF )

[10:07] {fernp} you were right with LVS. ty

[10:09] {Threei} :)

[10:10] {Threei} Long Setup: ARUN .30 half lot

[10:10] {ese} out MYL .46 -.08 goin nowhere fast....and i ain't goin with it

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

[10:11] {cosmo} Fed must like Caveat Emptor

[10:11] {Threei} HGSI again??

[10:13] {Threei} BCRX must be not too far behind then, lol

[10:16] {Threei} SBUX 1:1 for pesky hardcore scalpers

[10:21] {Threei} WFC Discloses 2009 modifications of 740K mortgage loans through end of July

[10:21] {Threei} - Notes that 90 of 100 WFC customers have remained current on mortgage payments (25.67, -0.13, -0.50%) (related XHB XLF )

[10:24] {Threei} scalpers win on SBUX

[10:24] {fernp} stopped

[10:24] {patel} 0 for 2 so far

[10:29] {wulff} rimm short

[10:31] {ese} i'm getin nowhere fast.......hows everybody else doin

[10:32] {chiro} me 2....nowhere fast...sounds like a "Meatloaf" track

[10:32] {BillyD} thrown a little out of my game but getting mindset back here

[10:32] {patel} same here

[10:32] {ese} if it isn't one of his tracks ...it hsould be

[10:34] {Threei} gosh... two stops 8 cents and 11 cents, and whole bunch of whiners

[10:34] {Threei} lol

[10:35] {ese} hey!!!!!! I represent that remark!

[10:35] {Threei} represent? or resent? :)

[10:38] {ese} represent

[10:38] {ese} L mee .79

[10:38] {patel} WFC hated on us

[10:38] {Threei} sometimes it does that

[10:40] {wulff} still think down is the mode of the day

[10:40] {Threei} F Chief Economist: Sees Q4 production up q/q -CNBC (8.38, +0.05, 0.60%)

[10:40] {nemo} or flat

[10:40] {nemo} which means it'll be up big

[10:43] {ese} out mee .97 +.18

[10:44] {ese} this stock has been a nice litle source of income the last 2 weeks

[10:51] {ese} L CTSH .39

[10:54] {Threei} Long Setup: VRTX 37 break if stays above .90

[10:59] {ese} L CTSH avg price .36

[11:00] {Threei} touched on 1:1 but I am not sure it was possible to exit, I wasn't offering there

[11:00] {patel} u taking partials

[11:00] {Threei} I think so

[11:02] {Threei} (US) Sen Stabenow: Remains confident that vote on extension of Cash-For-Clunkers could come as soon as this Wednesday

[11:02] {Threei} - Extension is for the approval of additional $2B in funds

[11:02] {Threei} *Note: Stabenow is Senator from Michigan

06[11:04] * Threei kicks VRTX in the rear

[11:05] {Threei} 1:1

[11:05] {Threei} half out

[11:05] {Threei} scalpers are scalpers

[11:05] {Threei} pesky and annoying

[11:05] {Threei} (I know, I see on in the mirror every day)

[11:07] {ese} same with ctsh....it needs a good swft kick

[11:08] {patel} any targets threei

[11:08] {Threei} 1:2, 1/4 more out\

[11:09] {nemo} wfc

[11:09] {nemo} drats

[11:09] {Threei} last portion stop is still under 37

[11:09] {Threei} sheesh... let it go, new plays are there and make us money

[11:09] {Threei} there are 10,000 stocks

[11:10] {nemo} you sure?

[11:10] {Threei} what's with this dwelling on the past, next bus is always aaround the corner

[11:11] {Threei} okay, make your choice now, offer into 1:3 or trail the stop

[11:11] {Threei} if trail, do that when it tags .30

[11:11] {Threei} under the low of this pullback

[11:13] {Threei} ONTY lost its mind

[11:14] {ese} my goodness.....it's the ctsh water torture....can anything climb slower

[11:14] {Threei} stop to .15

[11:15] {Threei} 1:3 is here

[11:16] {ese} grrrrrrrrrrrrr

[11:16] {magoo} vad..was there news RIMM? yesterday..it was piece of shit on big green day

[11:17] {magoo} today..nopt 1 pullbk on red day

[11:17] {Threei} nope

[11:18] {Threei} I am out +.35

[11:18] {patel} nice trade. I kinda messed up and exited all instead of partials.

[11:19] {ese} thats vrtx right vad? how many shs did you do on that?

[11:19] {Threei} yes ese

[11:19] {Threei} anyone else traded it??

[11:19] {patel} i did

[11:19] {patel} 400 shares

[11:20] {nemo} missed it

[11:20] {fernp} missed

[11:31] {Threei} HGSI hard hit

[11:35] {BillyD} new news?

[11:35] {Threei} not that i see

[11:38] {BillyD} tough read

[11:40] {nemo} the rally continues

[11:40] {nemo} Captain Obvious strikes again!

[11:41] {Threei} let's modify ARUN

[11:41] {Threei} .25 break long trigger

[11:41] {Threei} a bit more aggressive entry

[11:47] {nemo} did the stop on arun change?

[11:47] {Threei} no

[11:47] {nemo} you sure?

[11:47] {nemo} hehehehe

[11:47] {Threei} you living dangerously today?

[11:48] {nemo} yeah, I'm in a mood

[11:49] {patel} VRTX almost at 38

[11:57] {Threei} *SEC TO REPORTEDLY BAN FLASH TRADES IN US - US SEN SCHUMER (D, NY)

[11:57] {Threei} - Schumer comments that SEC's Shapiro mentioned that the ban is 'imminent'

[11:58] {ese} what are flash trades?

[11:58] {Threei} irrelevant distraction

[11:58] {Threei} has to do with dark pools and huigh frequency trading

[11:58] {ese} boy you've lost me vad....dark pools?

[11:58] {Threei} hehe

[11:59] {ese} high frequency makes sense.....dark pools?

[11:59] {patience} that will cut volume

[11:59] {Threei} dark pools - pools of liquidity set by large institutional trading entities away from mainstream market

[11:59] {ese} ahhhhhhhh

[12:00] {Threei} high frequency trading - superfast executions done by computer programs,

[12:00] {Threei} mostly hunting very small price movements or even no mecements at all,

[12:00] {Threei} getting reward in a form of liquidity rebate

[12:00] {Threei} same as get with Laser

[12:00] {Threei} same as we get with Laser

[12:01] {Threei} now, sending "probing" orders into dark pools

[12:01] {Threei} trying to find liquidity there

[12:01] {Threei} based on FOK principle

[12:01] {ese} buying and selling within there own inventory of shares

[12:01] {Threei} (fill or kill)

[12:01] {Threei} where order is active for only milliseconds

[12:01] {ese} based on long time accumulation

[12:01] {Threei} and either getting filled or canceled immediately

[12:02] {Threei} became known as flash orders

[12:02] {Threei} Major concern about them is,

[12:03] {Threei} often they exploit inefficiency dangerously close to exploting information about order flow before aanyone else get a chance to see it.

[12:03] {Threei} It violates the idea of oreders being exposed to everyone at the same time

[12:03] {ese} i can see that

[12:04] {Threei} It remains an open question whether it's illegit frontrunning on privileged distribution of information

[12:04] {Threei} or legitimate using of higher speed by those who has access to higher speed

[12:04] {BillyD} collusion, price fixing, etc

[12:04] {BillyD} lol

[12:04] {BillyD} and justification

[12:04] {Threei} after all, if I have a cable and you have a phone modem, I will get information faster

[12:04] {Threei} and this will be totally legitimate advantage

[12:05] {Threei} There are claims out there that the system of information distribution is rigged

[12:06] {Threei} and this particular senator champions the idea of banning flash orders.

[12:06] {Threei} If he succeeds, fine... if not - fine too.. IMO{ this all is absolutely irelevant

[12:06] {nemo} He has to be hard on the financial industry considering his close ties to Wall Street

[12:06] {nemo} He was skewered during the initial stages of the debacle

[12:07] {nemo} It's like arun heard you call the change

[12:08] {nemo} RIMM gonna break through?

[12:09] {nemo} guess so

[12:18] {Threei} Just 16% of U.S. voters believe that tax increases help the economy

[12:18] {Threei} see, told you it's a mving target

[12:20] {ese} out CTSH .33 +.10 had averaged in from .11

[12:21] {Threei} what an unlikely mover... UAUA

[12:21] {nemo} yeah, on what, higher oil?

[12:22] {Threei} maybe they hired new spin doctor, more talented than old ones... so he proved higher oil is to their benefit

[12:23] {nemo} oh, they made money on their fuel hedges

[12:24] {Threei} (US) SEC: Exploring ways to eliminate the unfairness of flash orders (related XLF )

[12:24] {Threei} it's easy: mandate the same speed for all computers

[12:24] {Threei} mandate the same IQ for all programmers

[12:26] {Threei} somewhere down that road I see a decree mandating the same birthday for entire population - because it's unfair that some get to celebrate on nice summer day while ohers suffer in cold winter one

[12:26] {ese} look at GE

[12:26] {ese} can that carry on?

[12:38] {ese} now thats funny....everybody is an idler

[12:51] {patel} any opinion on KEY?

[12:51] {Threei} not by me

[12:52] {magoo} vad GGC

[12:52] {magoo} 30 points in 5 days

[12:53] {patel} thats what i'm talkinag bout magoo. LOL

[12:53] {Threei} GGC "No comment" on trading activity today (40.45, +16.50, 68.89%)

[12:53] {magoo} oh

[12:53] {patel} that think is flying

[12:53] {patel} thing

[12:53] {Threei} 30 Jul 2009 10:47 GGC Moody's raises ratings to B2 from Caa2 (3 notch increase); outlook stable

[12:53] {Threei}

[12:54] {Threei} a few news headlines on debt exchange before that

[12:55] {Threei} eBay Inc UPDATE: Silicon Alley Insider column this morning discussed rumors that Apple is working on a "PayPal Killer"

[12:55] {Threei} - article notes it could be expanded from iTunes payments which can already be used to buy some virtual and subscription goods in third-party iPhone applications.

[12:55] {Threei} how is it paypal killer

[12:56] {Threei} shrug

[12:57] {Threei} U.S. Treasury Secretary Timothy Geithner issued a stern warning punctuated with expletives to U.S. regulators to end turf battles and show support for President Barack Obama's plan to overhaul financial regulation, a person familiar with the situation said on Monday.

[12:57] {Threei} that's right Timmy, you tell them

[12:57] {Threei} with expletives

[12:57] {BillyD} lol

[12:58] {cosmo} i want to see indictments....

[12:58] {cosmo} but.... no matter

[12:58] {Threei} and don't puctuate with them - let it be expletives puncuated by routine words

[12:58] {Threei} Citing people familiar with the meeting, the newspaper also said that the Treasury Secretary used obscenities and took an aggressive stance in his dressing down of the regulators.

[12:59] {Threei} Spokespersons for the Fed, the SEC and the FDIC did not immediately return calls seeking comment.

[13:00] {Threei} I guess they were searching for the right words

[13:01] {Threei} the following somehow raises the image of Stalin in my mind... read it:

[13:01] {Threei} Mr. Obama in June unveiled a financial regulatory overhaul, sometimes called the biggest since the 1930s. Among other things, the plan would give the Fed added powers, award the government more power to break up troubled companies, and create a new agency to oversee consumer finance.

[13:01] {Threei} Many major banks and industry trade groups however have criticized the plan, as have some regulators wary that any redistribution of power would reduce their own.

[13:01] {Threei} Even though the regulators are viewed as independent of the White House, the Journal said Mr. Geithner told attendees that the administration and Congress set policy.

[13:01] {Threei} It also said the Treasury Secretary, without singling out officials, raised concerns about regulators who have questioned the wisdom of giving the Fed more power.

[13:04] {patel} AMTD break fo 19

[13:05] {patel} what ya think VAD?

[13:06] {Threei} two day's break... and JBE on intraday... overall, it's my kind of plays...

[13:06] {Threei} but today it just doesn't feel right

[13:26] {chiro} AMZN testing lows

[13:29] {ese} l fitb .01

[13:36] {_commaman} opinion, please on MMM long after.84?

[13:37] {ese} out fitb .08 +.07 20k

[13:37] {Threei} I doubt it, MMM

[13:37] {fernp} gj ese

[13:38] {Threei} more feels to me like little bounce before further drop

[13:38] {ese} tks

[13:39] {_commaman} thanks...

[13:42] {magoo} .

[13:51] {Threei} watching RIMM for bounce scalp

[13:52] {nemo} O.K. here's a wise-ass comment...why weren't you watching it for a short!

[13:52] {Threei} since you recognize it as such I may just as well refrain from answer

[13:54] {Threei} .40 long trigger if holding above .25

[13:54] {Threei} invalidated

[13:54] {ese} now that was an interesting runup in fitb

[13:55] {Threei} Senate Majority Leader Reid: There is "absolute unity" among Democrats in the Senate on healthcare

[13:55] {nemo} did his nose grow?

[13:55] {Threei} RIMM .20 long if holding above .05

[13:56] {Threei} no go

[13:57] {nemo} gonna' need market help maybe

[13:57] {Threei} market really dislikes this "absolute unity"

[13:57] {ese} market news of any kind? qqqq's just tanking

[13:57] {fernp} any news Vad?

[13:57] {Threei} only this healthcare thing

[13:57] {ese} absolute unity comment

[14:00] {cosmo} lemings unite

[14:06] {Threei} Long Setup: SRS .60 break if holding above .50

[14:07] {Threei} this is in fact short the market play

[14:07] {Threei} and it starts feeling like we are to get nice downdraft today

[14:07] {Threei} so not a scalp for me

[14:07] {magoo} in

[14:10] {nemo} scalp stop .55?

[14:12] {Threei} no

[14:12] {Threei} there is no support there

[14:13] {ese} general sense of the market last few days vad.......ya got one.....feeling toppy to me

[14:14] {Threei} pretty much

[14:14] {Threei} but timing of exact top is umm

[14:14] {Threei} no worky SRS

[14:14] {Threei} shrug

[14:14] {Threei} idiotic day so far

[14:14] {ese} yes indeed

[14:18] {nemo} wow, SRS just tickled the stop

[14:18] {Threei} if that turns to be a shakeout too, I give up - world IS unfair

[14:19] {nemo} yeah we need Obama to fix it

[14:22] {cosmo} CTSH waits patiently

[14:26] {ese} patel you there......just saw your dcc ....just replied...sorry about that

[14:29] {magoo} ami hear?

[14:29] {magoo} whole system tankage

[14:29] {nemo} I don't know can ami hear?

[14:31] {cosmo} CTSH tests possible 33.58 pivot

[14:31] {cosmo} fwiw

[14:37] {ese} patel....PAtel.........PATEL!!!!!!!!! where are ya man

[14:38] {nemo} think it's short for patella?

[14:40] {ese} you mean Nutella...........no wait.....thats the chocolate treat

[14:40] {ese} L mee .10

[14:40] {nemo} that stuff is goood

[14:44] {ese} out .15 +.05

[14:45] {magoo} RICHHHHHHHHHHH

[14:46] {magoo} was short GGC 45 .16

[14:46] {magoo} covered .36.28

[14:46] {magoo} DIONOT TRY THIS

[14:48] {magoo} had heart attack doing it+8.88

[14:48] {magoo} my computer even crashed

[14:48] {magoo} was freakin out..smashed all dinos stuff\

[14:48] {BillyD} feel better now

[14:48] {BillyD} just tell dino it was worth 8 pts

[14:49] {ese} mags your hilarious!!!

[14:50] {ese} ya i agree with billy.....8pts is worth the distruction of the computer

[14:50] {ese} definetly

[14:51] {nemo} great, he'll come in Monday to trade, especially after the month he had, and find his stuff trashed.

[14:51] {ese} thats even funnier

[15:04] {dptl} have a good evening all

[15:05] {ese} l mee .04

[15:06] {magoo} yea..then im dead, ill take monday off i think..i had 800 shares

[15:06] {nemo} what was your stop .00

[15:06] {magoo} my biggest of year score

[15:06] {Threei} take care dp

[15:06] {nemo} ese stop

[15:06] {magoo} BUT IM NOT BUYING HIM A COMPUTER..just the duct tape

[15:07] {Threei} lol

[15:07] {magoo} why smash my stuff? ive learned that lesson

[15:07] {BillyD} rflol

[15:08] {ese} out mee .13 + .09

[15:08] {magoo} u know..im working hard..hes drinkin and golfing..why should my computer be smashed?

[15:09] {ese} sorry nemo.......was concentrating on it too much to reply would have been .99 though

[15:09] {magoo} hey vad, u edit this stuff right?

[15:09] {Threei} nope

[15:09] {magoo} oh oh

[15:10] {nemo} Yeah, I just copy/pasted it for Dino

[15:11] {ese} i'm burnt.........anyone who says this is not stressfull need a good swift kick in the nats.....

[15:11] {Threei} ummm

[15:11] {Threei} that would be me... and I am not delighted by the idea {G}

[15:12] {ese} this is not stressful to you vad?........heck of alot of concentration has to go on here.....at least from my point of view

[15:12] {Threei} do it day after day full time for 13 years

[15:13] {Threei} then tell me if it's still stressful to you :)

[15:13] {magoo} i find it very stressful and tiring eses

[15:13] {ese} your amazng for sure........

[15:13] {Threei} magoo doesn't count

[15:13] {Threei} he just loves stress

[15:13] {Threei} if he doesn't find it he creates it

[15:14] {ese} not one bit....teenee weenee bit of stress?

[15:14] {Threei} just as much as normal man needs to get creative juices going

[15:14] {Threei} but nothing of devastating kind

[15:15] {Threei} you know... sweating palms

[15:15] {Threei} hightened heart rate

[15:15] {Threei} breaking up voice

[15:15] {Threei} etc :)

[15:16] {Threei} you are not stone cold when you perfomr on the scene, right?

[15:16] {ese} ya no i get ya........but the concentration factor is huge i find

[15:16] {Threei} you are jazzed up

06[15:16] * magoo slaps Threei around a bit with a large trout

[15:16] {ese} true

[15:16] {Threei} but not stressed out

[15:16] {ese} Ok......i see where your going with this

[15:16] {Threei} and you ARE concentrated, in a way

[15:17] {ese} yup

[15:17] {Threei} same here...

06[15:17] * magoo slaps Threei around a bit with a large trout

[15:17] {Threei} sigh

[15:17] {magoo} f tankage

[15:17] {ese} hmmmmmmm........OK.....I'lll try that shot or 2 of vodka as well

[15:18] {magoo} i do drink dinos booze while hes away lol

[15:19] {ese} ha ha ha..........

[15:26] {magoo} any read rimm here vad?

[15:26] {magoo} i thinking short

[15:26] {Threei} .50 break...

[15:26] {Threei} hard to tell mags, I am off today

[15:26] {magoo} see..i think mkts going down

[15:26] {Threei} so trying not to push it

[15:26] {magoo} ok

[15:27] {Threei} well, I thought so too

[15:27] {Threei} didn't materialize

[15:27] {magoo} oh yeah..the srs

[15:28] {ese} gotta go all....see you all tomorow

[15:28] {fernp} bye ese

[15:28] {magoo} WAITTTTTTTTT

06[15:28] * magoo slaps ese around a bit with a large trout

[15:28] {Threei} take care ese

[15:28] {ese} what!!!!!

[15:29] {ese} see ya mags

[15:29] {ese} vad

[15:34] {chiro} rimm

[15:34] {chiro} sry...wrng window

[15:37] {Threei} Short Setup: WFC .30 break

[15:38] {Threei} last attemot to repair the day

[15:38] {magoo} u confident}?

[15:39] {jfjf64} good afternoon all

[15:39] {Threei} hmm?

[15:39] {Threei} hey jf

[15:39] {Threei} about what mags?

[15:39] {fernp} stop Vad?

[15:40] {Threei} above .40

[15:40] {magoo} huh?

[15:40] {jfjf64} this wfc will be my 1st trade all in boss

[15:40] {jfjf64} in .28

[15:41] {nemo} in .29

[15:41] {magoo} in .32

[15:41] {Threei} if it doesn't work, I am off to monastery

[15:41] {nemo} you mean

[15:41] {nemo} nunnery

[15:41] {Threei} for the next 5 years

[15:41] {Threei} but the trip itself should be short enough so Iam ready to trade tomorrow morning

[15:42] {nemo} where.s the stop

[15:42] {jfjf64} i will not ask how day was

[15:42] {Threei} [15:40] {Threei} above .40

[15:42] {nemo} ?

[15:42] {Threei} why not jf?

[15:42] {fernp} no short inventory here

[15:43] {Threei} looks like good thing in this case fern, lol

[15:43] {jfjf64} with ya goin to nunnery hope was good

[15:43] {fernp} u think?

[15:44] {Threei} VZ) Venezuela Pres Chavez: Evaluating the expropriation of some coffee companies

[15:44] {Threei} - Aiming to continue to nationalize 'monopolies'

[15:44] {Threei} related GMCR USD/VEF SBUX USD/COP

[15:49] {Threei} die WFC

[15:49] {Threei} you have just 10 min to go to 25

[15:49] {jfjf64} getin ready too

[15:49] {magoo} thought we were gonna lose u big guy

[15:49] {Threei} although 24 would be better

[15:50] {jfjf64} met l .50 break

[15:51] {Threei} what can I say

[15:52] {Threei} qwhen things don't work, they just don't

[15:52] {jfjf64} 1/1 met

[15:53] {Threei} okay guys, talk to you tomorrow morning from the monastery

[15:53] {Threei} have a good evening

[15:53] {jfjf64} leavin stop at .41 till close

[15:53] {fernp} lol

[15:53] {fernp} good nite all

[15:53] {jfjf64} half out

[15:53] {magoo} bye vad

[15:54] {jfjf64} later vad

[15:55] {jfjf64} 1/4 out

[15:56] {jfjf64} last piece stop at .65

[15:58] {jfjf64} ya go met

[15:58] {jfjf64} stop to .75 lasst 1/4

[15:59] {jfjf64} done

[15:59] {jfjf64} good night all

Aug 03 2009

Week started nicely with steady and safe profits. WFC short, CAT long, HIG two-sided setup that triggered on a long side and worked, F short that took a lot of patience but finally worked out... what else does one need from Monday.

Session Time: Mon Aug 03 00:00:00 2009

[08:05] {nemo} market left without us

[08:37] {Threei} KERX Announces Agreement with FDA on a Special Protocol Assessment for Phase 3 Trial of KRX-0401 (Perifosine) in the Treatment of Multiple Myeloma

[08:38] {BillyD} GM Vad

[08:38] {Threei} Billy :)

[08:52] {magoo} morning

[08:53] {Threei} magoo

[08:53] {magoo} what we watching pre vad?

[08:53] {Threei} kind of everything

[08:53] {Threei} KERX

[08:54] {Threei} WFC

[08:54] {Threei} AUY

[08:54] {Threei} SLW

[08:54] {magoo} u see HURN down 32?

[08:55] {Threei} yes but I considcer it hallucination

[08:56] {Threei} Huron Consulting Group Guides Q2 R$164-166M v $174.7Me, FY09 R $650-680M v $732Me; James Roth named CEO

[08:56] {Threei} - Company to restate financial statements for the fiscal years 2006, 2007 and 2008 and Q1 2009.

[08:56] {Threei} to correct the Companys accounting for certain acquisition-related payments received by the sellers in connection with the sale of certain acquired businesses that were subsequently redistributed among themselves and to other select Huron employees. As a result, the historical financial statements for these periods should no longer be relied upon. The restatement items are non-cash charges with a total estimated impact on net income and EBITDA for all restated periods of $57 million.

[08:57] {Threei} It recently came to the attention of the Audit Committee of the Board of Directors that, in connection with one of these acquisitions, the selling shareholders had an agreement among themselves to reallocate a portion of the earn-out payments to an employee of the Company who was not a selling shareholder. Following this discovery, the Audit Committee commenced an inquiry into the relevant facts and circumstances of all of the Companys prior acquisitions to determine if similar situations existed.

[08:57] {Threei} stockholder nightmare

[08:58] {magoo} yea...but 33 points?u think its got a bounce in it?

[08:58] {Threei} thgis is one of those cases that can proceed even lower no matter how far it drops

[08:59] {Threei} will bounce of course

[08:59] {Threei} matter of readability...

[08:59] {Threei} how's that for laughter:

[08:59] {Threei} HURN Oppenheimer Cuts HURN to Underperform from Outperform, price target: $60

[09:00] {magoo} i want that guys job!!!!!

[09:09] {Threei} I've seen this before

[09:10] {Threei} this is not just "gap down"

[09:10] {Threei} this is devastation

[09:10] {magoo} what u think? goin o 5 bux

[09:10] {Threei} stock holders all over the intyernet scream about how unfair to the stock it is and how it's worth much more and how it's going to be back in no time

[09:11] {Threei} and how they buy all they can

[09:11] {magoo} so whos selling then?

[09:11] {magoo} mutuals?

[09:11] {magoo} hedgies?

[09:11] {Threei} and hbow evil market makers shake out weak hands while buyong all they can,

[09:12] {Threei} and how they hold it down so friends and family can load the tracks

[09:12] {dptl} good morning all

[09:13] {Threei} dp :")

[09:13] {fernp} good morning everybody

[09:13] {Threei} fern :)

[09:26] {jfjf64} mornin all my trading crazies

[09:26] {nemo} pot calling the kettle black

[09:26] {Threei} morning jf... but why are you addressing magoo in plural?

[09:27] {jfjf64} lol

[09:27] {jfjf64} lets hit em fast today vad going out on boat

[09:29] {Threei} sounds good, ecept in my experiwence, when you try to hit'e, fast, 'dey hit back even faster

[09:29] {nemo} can only hunt what's there

[09:30] {BillyD} Art of War

[09:31] {Threei} Long Setup: TWNT .25 break if stays above .15

[09:31] {Threei} TQNT

[09:33] {Threei} for hardcore scalpers, if stays above .20

[09:33] {jfjf64} bac.35 break

[09:35] {jfjf64} bac invalid here

[09:36] {Threei} WFC looks stronger so far

[09:36] {nemo} mmmhhh...25 looks like the resistance for tqnt...look at that huge offer again

[09:37] {nemo} and @ .29

[09:37] {jfjf64} .81 trigger F long

[09:39] {Threei} ESLR Hearing vague takeover chatter circulating in name (2.19, +0.09, 4.29%)

[09:40] {jfjf64} buy them clunkers

[09:40] {nemo} stopped tqnt

[09:40] {Threei} no worky TQNT

[09:41] {Threei} Short Setup: WFC .14

[09:41] {Threei} if stays under .21

[09:42] {Threei} under .20

[09:42] {jfjf64} in .13

[09:43] {Threei} 1:1

[09:43] {Threei} feel free to cover

[09:43] {BillyD} ty Vad

[09:44] {jfjf64} ty vadd

[09:44] {patel} ty vadd

[09:46] {Threei} Long Setup: CAT .50 if stays above .35

[09:47] {jfjf64} i hate ya F

[09:47] {jfjf64} IN .51

[09:47] {Threei} {F} and here I am, trying to be the best of your car manufacturers... :(

[09:49] {jfjf64} meow lets go

[09:49] {jfjf64} 1/1 ty vadd

[09:50] {fernp} HIG vad? Double bottom?

[09:50] {Threei} if market helps, pretty much

[09:50] {nemo} need market help

[09:50] {Threei} Long Setup: HIG .83 if stays above .70

[09:51] {Threei} Short Setup: HIG .70 break if stays below .82

[09:51] {jfjf64} ya sittinn cat sold half

[09:51] {Threei} how about that? :)

[09:53] {jfjf64} in .84

[09:53] {Threei} CAT 1:1

[09:53] {Threei} and over

[09:54] {jfjf64} out cat ty

[09:55] {jfjf64} svnt l .95 break

[09:57] {jfjf64} 1/1 more

[09:57] {jfjf64} half out

[09:58] {jfjf64} stop to .15

[09:59] {jfjf64} 1/4 out .35

[09:59] {jfjf64} done

[09:59] {magoo} out CAT .89 TY boss

[10:00] {BillyD} out HIG ty

[10:00] {nemo} ism report vad?

[10:01] {Threei} JULY ISM MANUFACTURING: 48.9 V 46.5E

[10:01] {Threei} **Sub Indices:

[10:01] {Threei} - Prices paid: 55 v 50.0 prior

[10:01] {Threei} - Employment Index: 45.6 v 40.7 prior

[10:02] {jfjf64} .55 break agen

[10:03] {nemo} what's your stop jf .40?

[10:03] {jfjf64} yes

[10:04] {nemo} .56 has huge order too

[10:05] {jfjf64} see

[10:06] {magoo} rewad on RIMM vad?

[10:07] {Threei} .40 break

[10:07] {Threei} with stop under whatever low it puts ikn before breaking, and invalidation under .20

[10:07] {Threei} invalidated

[10:08] {jfjf64} later agen

[10:09] {jfjf64} vad any read osk pullbk can ya find trigger for bounce

[10:10] {Threei} not really

[10:10] {Threei} F.IT Chrylser US Sales down less than 10% - unconfirmed report

[10:11] {Threei} Preview: July US Vehicle Sales numbers expected throughout the day from major auto makers

[10:11] {Threei} **consensus estimates (adjusted):

[10:11] {Threei} - Ford: -6%e (usually released at Noon ET, but today expected at 11amET).

[10:11] {Threei} - GM: -24%e (usually released around 1:45pmET).

[10:11] {Threei} - Chrysler: -33%e

[10:11] {Threei} - HMC: -19%e

[10:11] {Threei} - TM: -20%e

[10:11] {Threei} - NSANY: -29%e

[10:11] {jfjf64} cof c/h??

[10:12] {Threei} .60 break is interesting

[10:13] {jfjf64} ty

[10:13] {jfjf64} vol pk up

[10:13] {jfjf64} in

[10:14] {Threei} half out here

[10:14] {jfjf64} 1/1 ty

[10:14] {jfjf64} all out

[10:15] {jfjf64} +11 +4

[10:15] {jfjf64} tyvad

[10:15] {Threei} sure

[10:23] {jfjf64} fcx .95 break half lot

[10:24] {jfjf64} 25 cent stop

[10:25] {jfjf64} im still valid

[10:25] {nemo} trade, or personally?

[10:26] {BillyD} CAT is strong

[10:30] {magoo} CAT animal..excuse pum

[10:30] {Threei} *S&P500 INDEX MOVES ABOVE 1,000 MARK FOR THE FIRST TIME SINCE NOV 5, 2008

[10:30] {Threei} - Note that the S&P500 closed at 1005.75 on Nov 4, the day President Obama was elected.

[10:31] {Threei} and their point is?...

[10:31] {Threei} anyone is free to read whatever they want in that

[10:31] {jfjf64} 1/1 fcx

[10:32] {Threei} his fans will say market has shown confidence in him by returning to those highs

[10:32] {BillyD} looking at ANDS possible short off .75

[10:32] {jfjf64} stop .15

[10:32] {Threei} his foes will say market went up despite

[10:32] {jfjf64} out

[10:40] {jfjf64} later guys enjoy goin on da boat

[10:40] {Threei} take care jf

[10:40] {ese} Hi all.....Symphony Splash here yesterday.....just got up

[10:40] {Threei} ese :)

[10:40] {Threei} how did it go?

[10:41] {ese} fantastic.....the kids were just great....super show

[10:41] {Threei} :)

[10:41] {ese} anything happening in the market

[10:43] {Threei} gap up... morning movements... quieter now

[10:43] {ese} not to mention that my band parents and I had a room in the Empress Hotel with and amazing view....and we were drinking heavily

[10:44] {patel} how does TC look?

[10:45] {ese} TC ?

[10:45] {patel} Thompson Creek Metals (tick: TC)

[10:45] {ese} ahhhhhhhh

[10:46] {Threei} forms triangle for a break...

[10:47] {Threei} whether it ge4ts markert help for that is the question

[10:53] {magoo} any read HURN vad?

[10:54] {Threei} not really

[10:55] {magoo} how about RIMM?

[10:56] {Threei} rather short than long

[10:56] {Threei} but not enough confidence for the call

[11:00] {Threei} F Reports July vehicles sales 165K, +2.3% v -2%e (unadjusted) (8.61, +0.61, 7.63%)

[11:02] {magoo} any read CAT vad?

[11:02] {Threei} shrug

[11:03] {Threei} Short Setup: F .5 if stays under .60

[11:05] {fernp} no avalible here grrrrrrrrr

[11:06] {Threei} HURN Hearing defended at UBS (timing uncertain) (14.28, -30.07, -67.80%)

[11:09] {Threei} F if works, probably more than scalp

[11:10] {chiro} target on F?

[11:10] {chiro} ty

[11:10] {nemo} look at the gap

[11:10] {magoo} prob .25 area IF IF worx

[11:10] {Threei} hard to tell about ultimate target, going to partial as usual and see how it trades

[11:11] {magoo} jazz

[11:11] {magoo} rip

[11:12] {Threei} on no news again

[11:14] {wulff} seems like a day that the opposite always happens

[11:16] {Threei} guess who is coming on TV

[11:16] {BillyD} lol

[11:23] {ese} L KEY . .20

[11:26] {Threei} GM Reportedly could require additional layoffs to hourly workers - unconfirmed report

[11:26] {Threei} why, we will just send 10 more B o them

[11:39] {patel} come on F

[11:43] {Threei} {F} as a last standing US car manufacturer, I'll reserve right to drop on my own schedule

[11:45] {ese} L mee .10

[11:51] {Threei} keeping an eye on LVS

[12:00] {Threei} CIT Halted: news pending (0.84, -0.03, -3.39%) (related XLF )

[12:01] {ese} out mee .21 +.11

[12:03] {Threei} (US) Study concludes that by 2030 the US will need 45 new nuclear reactors, to cut emissions by 8% - industry sponsored study on emissions

[12:04] {patel} read on F is still the same correct

[12:04] {Threei} nothing changed really

[12:04] {BillyD} except time

[12:05] {magoo} and mkts powers up

[12:05] {BillyD} true, probably only thing holding F up

[12:05] {magoo} if mkthad fell..it was golden, but'

[12:11] {ese} out KEY .31 +.11

[12:15] {Threei} CIT CIT Announces Amendment of Tender Offer and Interim Tender Results

[12:15] {Threei} with the consent of the lenders steering committee for its recently announced $3B secured credit facility, it has amended its pending tender offer for its $1B of Floating Rate Senior Notes due August 17, 2009

[12:15] {Threei} - As a result of the amendment, holders of all Notes tendered prior to the expiration date at midnight, New York City time, at the end of Friday, August 14, 2009, will receive the amended purchase price of $875 in cash per $1,000 principal amount of Notes, as total consideration in the Offer. Previously, the purchase price, which included an early delivery payment, was $825 per $1,000 principal amount of Notes.

[12:18] {Threei} grrr

[12:18] {Threei} slept through LVS break

[12:20] {Threei} (US) Obama Administration: Half of cars bough under "cash for clunkers" have been bought from big three automakers, Ford Focus is the top seller

[12:20] {Threei} - So far 83% of trade-ins are trucks

[12:20] {Threei} - Models being purchased under the program average a 61% increase in fuel economy over trade ins.

[12:29] {Threei} Bank of America Corp Reportedly SEC to files lawsuit over alleged false statements in proxy statement for Merrill Lynch acquisition

[12:29] {Threei} - suit filed in federal court in New York.

[12:30] {Threei} wow

[12:34] {BillyD} HIG short if stays under .30 and breaks .20

[12:34] {Threei} looks right

[12:35] {nemo} mee kept going ese

[12:35] {ese} did it ever

[12:36] {ese} ah well........there'll be more where that came from.

[12:38] {ese} have to sign off everyone.......have another show today at noon.......St Anns Academy Vad.....was a nunery at one time....great place to take pictures and they say that it's haunted....a nun burried under each of the apple trees on the grounds.

[12:38] {nemo} break a hip ese

[12:38] {ese} tks

[12:38] {Threei} take care ese :)

[12:38] {ese} see ya

[12:38] {nemo} I had a comment, but don't want to give Vad the extra editing work

[12:38] {Threei} thank you

06[12:39] * Threei shudders just imagining that comment that gave pause even to nemo

[12:40] {magoo} no brainer..i shorted .40 covered .90 millions ofg shares

[12:44] {magoo} resh .15

[12:44] {magoo} RISKY

[12:44] {Threei} whatcha talking about mags?

[12:45] {magoo} BAC

[12:45] {Threei} ahh

[12:45] {Threei} you think we read your mind or what

[12:45] {magoo} out

[12:45] {magoo} too fast sorry

[12:46] {Threei} interestinbg that it stayed up there for 4-5 minutes after news

[12:46] {magoo} could really dump vad, ltswatch

[12:49] {magoo} RIMM should take 77...

[12:50] {BillyD} HIG stopped -.13

[13:00] {magoo} RIMM

[13:03] {magoo} lies..lies...lies...that thing should not be going up..BAC

[13:03] {Threei} BAC Reportedly settles SEC inquiry for $33M (15.42, +0.63, 4.26%)

[13:07] {Threei} quite quick turnaround of news on BAC

[13:07] {Threei} they got sued today and sxetlled today?

[13:07] {magoo} i think short but not in

[13:07] {BillyD} no kidding, I shorted into the bounce at .28 and stopped .31

[13:07] {Threei} you made a good trade on it

[13:08] {Threei} practically killing in temrs of this stock movement

[13:08] {magoo} yea..

[13:08] {Threei} 50 cents for it is a fantastic profit, especially considering it allows good shares size

[13:08] {magoo} sh .40

[13:08] {Threei} so... just leave it alone now

[13:08] {Threei} lest it turns into well visitred all too often

[13:09] {Threei} and you, Ford... will you die finally?

[13:11] {Threei} 7261.JP Reports US July sales at 19.03K; -15.1% y/y

[13:11] {Threei} that's Mazda

[13:11] {Threei} about F:

[13:12] {Threei} we had nicely profitable morning,

[13:12] {Threei} here is what I suggest you do with this position

[13:12] {Threei} if the way you managed your trades in the morning leaves you enough room to afford this one if it stops us out, keep it

[13:13] {Threei} if this stop will eliminate your profits, scratch it here

[13:13] {Threei} it's at breakeven, no harm done

[13:13] {Threei} makes sense?

[13:13] {Threei} F.IT Chrylser reports July vehicles sales 88.9K units; -9% v -29%e (unadjusted)

[13:15] {Threei} since you all seem to fall asleep, I will be back in 20

[13:19] {magoo} out sh bac flat

[13:20] {magoo} scarin me

[13:22] {magoo} rimm 77

[13:30] {wulff} gracious, CTRP

[13:32] {Threei} (US) White House Press Sec: There is no doubt "several hundred thousand" more jobs will be lost in US economy (related EUR/USD TLT SHY )

[13:40] {patel} New car sales number come out at 2 right

[13:42] {Threei} GM should be next

[13:42] {Threei} 1:45 usually

[13:56] {Threei} GM Reports July vehicles sales 189K units, -19% v -20%e (unadjusted)

[13:56] {Threei} - July production 102K units (39K cars, 63K trucks); -57% y/y

[13:56] {Threei} - Q3 production forecast at 535K ...more...

[13:56] {Threei} NSANY Reports July vehicles sales -24.6% v -25%e (unadjusted) (15.46, +0.97, 6.69%)

[13:57] {Threei} Short Setup: WFC .50 if stays under .60

[14:06] {Threei} invalidated, and as usually lately, fade would have worked

[14:07] {fernp} true

[14:09] {Threei} 7269.JP Reports US July sales at 3.K; -57% y/y

[14:09] {Threei} Suzuki, in case you don't recognize those cryptic names

[14:10] {Threei} 012330.KS Reports July US sales +12%

[14:10] {Threei} Hyundai, lol

[14:10] {BillyD} ONTY some buying

[14:11] {Threei} BMW.GE Reports US July sales at 21.25K; -27% y/y

[14:14] {patel} has Ford reported yet

[14:14] {Threei} long ago

[14:15] {Threei} [11:00] {Alert} Threei F Reports July vehicles sales 165K, +2.3% v -2%e (unadjusted) (8.61, +0.61, 7.63%)

[14:16] {magoo} in a place far far away

[14:16] {nemo} place or galaxy?

[14:24] {Threei} Long Setup: ADBE 33 break if holding above .90

[14:25] {Threei} .95 would be aggressive entry if you want tyo save a few cents

[14:25] {Threei} with usual tradeoff

[14:25] {magoo} full?

[14:25] {Threei} sure

[14:26] {nemo} How do we set up alerts on specific phrases in mirc? I seem to have set it up not to make a sound, an I forgot how I did it. (I feel like Magoo)

[14:27] {Threei} via Highlight

[14:27] {nemo} what menu?

[14:27] {patel} right click on Threei then info

[14:27] {patel} then highlight

[14:29] {Threei} Toyota Motor Corp Reports July vehicles sales at 174.8K, -11.4% v -16%e (unadjusted)

[14:29] {Threei} - President: "Beyond the tangible economic stimulus, the positive environmental benefits of the CARS program is clear to see, The program is achieving its goal of increasing fuel efficiency. CARS-related Toyota sales, over the seven days alone, will save customers an estimated 8 million gallons of gas and 20 million dollars in gas spending over the next year."

[14:30] {nemo} there is no highlight under any of the fueatures whe I right click on Vad

[14:30] {patel} Right click on Threei

[14:30] {patel} then select INFO

[14:30] {patel} then click on Highlight

[14:30] {Threei} invaliadetd ADBE

[14:30] {nemo} don't have it

[14:30] {Threei} different MIRC version...

[14:31] {patel} i am using V 6.35

[14:31] {nemo} me too, oh oh

06[14:33] * nemo slaps Threei around a bit with a large daytrading course

[14:34] {nemo} that was by accident

[14:34] {Threei} sure

[14:34] {nemo} I'm looking for that frickin' feature

06[14:34] * Threei slaps nemo around a bit with a large accident that was waiting to happen

03[14:35] * Looking up nemo user info...

[14:35] {Threei} right click - Ucentral

[14:35] {Threei} dfo you have that?

03[14:35] * Looking up nemo user info...

[14:36] {nemo} there it is

[14:36] {Threei} last button is highlight

[14:37] {nemo} yep, got it. I just forgot where it was

[14:37] {nemo} thanky...Now I'm off for the day P&Q

[14:37] {Threei} I spent 2 minutes looking for it, at my going rate you owe me $16.66

[14:38] {nemo} How 'bout I take you off my DPWFL, or at least put your name in pencil?

[14:38] {Threei} nah, I'll take my chances

[14:42] {Threei} question of the day:

[14:42] {Threei} is today's afternoon more boring that Friday's was or less?

[14:43] {BillyD} tie

[14:43] {Threei} okay, lol

[14:43] {Threei} you take easy way out

[14:43] {BillyD} too much thought...lol

[14:43] {wulff} Are we ending Green?

[14:43] {Threei} most likely

[14:44] {Threei} even though gain is not that big presently so it couldn't get reversed quickly, I doubt that's in cards

[14:45] {Threei} hmm

[14:45] {wulff} would really like to see some down days

[14:45] {Threei} % of idiots is a moving target...

[14:45] {Threei} Seventy-six percent (76%) of U.S. voters now think President Obama is at least somewhat liberal. Forty-eight percent (48%) say he is very liberal

[14:46] {Threei} okay, so far, so good

[14:46] {Threei} now:

[14:46] {Threei} Seventeen percent (17%) of voters say the president is moderate, while only six percent (6%) believe he is conservative.

[14:46] {Threei} so it's 6% now

[14:46] {Threei} lat week something like 18 perents thought we need another stimulus package right now

[14:46] {Threei} so I am lost about exact % of idiots

[14:47] {wulff} the meeting is next monday

[14:49] {dptl} ok.....have a good evening all :)

[14:49] {Threei} take care dp

[14:59] {Threei} US Govt to adjust the "Hope for Homeowners' program with goals for re-launch in early September (related XHB XLF )

[15:00] {Threei} US Treasury quarterly borrowing needs: Cuts estimate from $515B; sees requiring $406B

[15:01] {BillyD} ONTY 6.20 trigger imo

[15:01] {BillyD} take a look vad

[15:02] {Threei} valid play... I wish stop would be closer

[15:02] {BillyD} agree

[15:04] {patel} anyone still in F

[15:04] {patel} i am

[15:05] {Threei} yup

[15:05] {patel} are u looking for partials

[15:05] {Threei} well, originally yes but now time becomes a consideration as well, we are closer and closer to eod

[15:05] {Threei} and I am not going to take it overnight

[15:11] {patel} yeah

[15:12] {patel} defiintiely not

[15:15] {Threei} Castro says abandoning communism is not on the table

[15:15] {magoo} rimm short vad?

[15:15] {Threei} I guess because it worked so wonderfully for them

[15:15] {BillyD} well, for him

[15:15] {Threei} lol

[15:15] {wulff} already there Magoo

[15:15] {Threei} .60 break...

[15:16] {Threei} it's a valid play

[15:16] {Threei} my concern is,

[15:16] {Threei} pushing plays at this time of the day mostly cost us early made profits

[15:16] {Threei} so, if you feel you really like it, take half lot

[15:26] {patel} F is going to take us to the last minute

[15:27] {Threei} market experiences sudden spasm of happiness

[15:28] {Threei} or it's just gas

[15:30] {Threei} Market Internals update at 3:30pmET

[15:30] {Threei} - NYSE volume 885M shares, about even to its three-month average; advancers lead decliners by 5.2:1.

[15:30] {Threei} - NASDAQ volume 1.82B shares, about 1% below its three-month average; advancers lead decliners by 2.1:1.

[15:30] {Threei} - VIX index flat on the day at just under 26.00

[15:34] {Threei} guess what

[15:34] {patel} 1:1

[15:34] {Threei} F over 1:1

[15:34] {Threei} cover half

[15:35] {Threei} or take scalp

[15:35] {patel} same here

[15:35] {patel} i covered half

[15:35] {wulff} +.30 RIMM

[15:35] {Threei} 25 min left

[15:37] {Threei} bidding 1/4 more .32

[15:37] {Threei} stop to above .50

[15:38] {Threei} RIMM short hit 1:1 too

[15:46] {Threei} 1/4 more out

[15:46] {Threei} stop to above .40

[15:46] {Threei} bidding last piece at .24

[15:52] {Threei} your ONTY Billy

[15:52] {BillyD} missed it gr

[15:59] {Threei} okay

[15:59] {Threei} covering last portion here

[15:59] {Threei} .33

[16:00] {BillyD} nice patience

[16:00] {Threei} plus deep coma

[16:00] {Threei} nice start for the week

[16:00] {Threei} thank you all, have a good evening

[16:00] {BillyD} you lost me on it a long time ago with scratch

[16:00] {Threei} see you tomorrow

[16:00] {fernp} good nite all

[16:00] {patel} good ngiht

[16:00] {patel} and thanks for F

[16:00] {patel} patience paid off