Aug 10 2009

Not bad for August Monday, with nice wins on LVS, AIG , HIG, scalp on WFC and couple small stops that didn't make much dent. Oh, and of course a few hours of boredom.

Session Time: Mon Aug 10 00:00:00 2009

[08:28] {Threei} BLTXX Baltic Dry Buk Index -3% (8th straight decline)

[08:30] {Threei} DEPO Reports Encouraging Results of its Phase I Trial for DM-1992 Program in Parkinsons Disease

[08:57] {fernp} good morning everybody

[08:57] {Threei} fern :)

[09:00] {nemo} mornin

[09:01] {Threei} nemo :)

[09:02] {nemo} Hi lari

[09:02] {larisa} gm :)

[09:03] {Threei} larisa :)

[09:03] {Threei} dino, welcome back

[09:03] {nemo} should we tattle on magoo?

[09:03] {Threei} of course

[09:03] {Threei} and tattle we will

[09:04] {dino} gm all

[09:04] {nemo} dino :)

[09:05] {fernp} welcome home, dino :)

[09:08] {dptl} good morning all

[09:08] {Threei} dp :)

[09:11] {dino} thx all, magoo said i missed a very profittable week.

[09:12] {nemo} How's your computer look?

[09:13] {Threei} yeah, he claimed the best week of the year

[09:13] {dino} computer still issues w/cyber, all other issues ok. trading on backup, ordered new trading only system

[09:15] {ese} good morning

[09:15] {Threei} ese :)

[09:15] {ese} hey vad

[09:16] {ese} first real day of rain here this summer

[09:16] {Threei} yup

[09:16] {Threei} http://www.realitytrader.com/photography/2009/08/can-you-think-of-better-walking-trails.html

[09:20] {cosmo} ....the trail to the bank?

[09:21] {nemo} good one cosmo

[09:21] {cosmo} ...at the dock of the bay?

[09:22] {patel} good morning

[09:24] {BillyD} GM all

[09:24] {cosmo} TIBX

[09:24] {Threei} patel, billy :)

[09:26] {cosmo} TIBX pre mkt high = 10.55 fwiw

[09:26] {jfjf64} mornin all;

[09:26] {Threei} jf :)

[09:26] {magoo} morning

[09:27] {Threei} magoo :)

[09:27] {Threei} DryShips, Inc Reached agreement with West LB on waiver terms for $71M of Debt

[09:27] {Threei} - CEO: We are delighted to have reached an agreement with West LB. This facility covers 2 of our drybulk vessels. We continue to have constructive discussions with the remainder of our banks who are all very supportive of the company."

[09:27] {jfjf64} ese ya sittin with drys still

[09:27] {ese} interesting PCLN +10.68 pre market

[09:27] {Threei} TIBX

[09:27] {Threei} TIBCO Software Inc Germany's SAP is in advanced talks to acquire company - Euro Am Sonntag

[09:27] {Threei} - According to unnamed sources, SAP is also interested in acquiring Teradata

[09:27] {Threei} - Terms of prospective deals not disclosed

[09:27] {ese} yup still am JF

[09:28] {ese} yup ...at .40 jf

[09:28] {jfjf64} good

[09:28] {ese} don't think this is enough news to really make it move though.....have bee in 3 days....looling to eject

[09:29] {BillyD} Vad, your eye on LVS?

[09:29] {jfjf64} nice place

[09:29] {dino} pcln

[09:29] {Threei} one of them anyway

[09:30] {cosmo} YRCW # Union workers at YRC Worldwide OK more wage cutsAP(Fri, Aug 7)

[09:30] {dino} es, pcln, thinking short?

[09:32] {Threei} Long Setup: LVS .60 if stays above .50

[09:32] {Threei} late

[09:32] {Threei} no chasing

[09:33] {jfjf64} gv vad a coffee pls

[09:33] {ese} out Drys .51

[09:33] {ese} +.11

[09:33] {Threei} jumped while I typed

[09:33] {Threei} let's see if we get pullback

[09:33] {jfjf64} oxpa .30 break

[09:34] {_lisa} do we go in here?

[09:34] {Threei} unclear yet

[09:35] {Threei} .65 long if holding .60

[09:35] {jfjf64} opxa sorry

[09:35] {Threei} 1:2

[09:36] {Threei} half out or scalp

[09:36] {jfjf64} ty

[09:37] {Threei} out in full

[09:37] {jfjf64} cof 34 break

[09:37] {Threei} +.35

[09:38] {ese} L pcln .164.27

[09:38] {ese} sorry this thing moving too fast to type

[09:38] {jfjf64} in cof

[09:38] {ese} out pcln

[09:39] {ese} 148.24

[09:39] {nemo} when you going long ese?

[09:39] {ese} +1.97

[09:39] {Threei} AIG Update: Price Target lowered to $10 from $20 at Bernstein, maintains Market Perform rating

[09:39] {Threei} - pre-open (28.79, +1.65, 6.08%)

[09:39] {ese} 1 lot

[09:39] {jfjf64} nice ese

[09:39] {ese} tks......those scare mee a litle

[09:40] {ese} don't have dinos nerve with them

[09:40] {jfjf64} comon cof alreedy

[09:40] {ese} look at how fast it's coming down

[09:40] {Threei} Long Setup: HIG .78 if holding above .70

[09:41] {cosmo} DISH breaky

[09:41] {cosmo} 20.40 test

[09:42] {Threei} Long Setup: LVS 13 break if holding above .90

[09:43] {jfjf64} stop cof

[09:44] {jfjf64} grrrrrrrrrrrrrrrrrr

[09:44] {jfjf64} breakouts shakey

[09:44] {cosmo} DISH no breaky

[09:44] {ese} HIG 20.00 is 6 month high from 6th of January

[09:45] {ese} thats appealing to me

[09:46] {Threei} LVS 1:1, half out

[09:46] {dino} v sm v wide pcln s .00

[09:46] {magoo} RIMM vad, bouncer?

[09:46] {Threei} stop to .98 for the balance

[09:47] {Threei} .450 break RIMM

[09:47] {Threei} if holding .40

[09:47] {Threei} .50 that was

[09:48] {Threei} second half LVS stopped

[09:49] {Threei} HIG turns into bounce candidate

[09:49] {Threei} .60 break long if stays above .50

[09:49] {jfjf64} in

[09:49] {dino} pcln stopped -.50

[09:50] {fernp} in

[09:50] {ese} dino......you watchin PCLN

[09:50] {dino} see above

[09:50] {dino} rinsed

[09:51] {ese} aye,,,,,missed that post.....

[09:51] {jfjf64} grrrrrrrrrrrrrr

[09:51] {Threei} no worky HIG

[09:52] {cosmo} yrcw

[09:52] {dino} thoughts es, on pcln

[09:53] {ese} don't know what to think.....

[09:53] {ese} just wondering if it's strong enough to stay between 147 /148

[09:54] {ese} may considering going long again at 148

[09:54] {jfjf64} axp .25 break

[09:54] {jfjf64} all in

[09:55] {Threei} Long Setup: AIG .30 break half lot

[09:55] {ese} the Q was good it beat estimates ...theoretically is should keep moving up for the day

[09:55] {jfjf64} in

[09:56] {jfjf64} axp

[09:56] {jfjf64} .26

[09:56] {nemo} stop on aig vad

[09:56] {dino} so far you are correct

[09:57] {Threei} .05

[09:57] {Threei} invalidated anyway

[09:58] {Threei} RIMM setup is back

[09:58] {Threei} .50 break if holding .40

[09:58] {jfjf64} .35 break axp i need

[09:59] {jfjf64} then off to da bank

[09:59] {ese} eeeecck.....thos .06 to .10 spreads dino are daunting....dangerous

[09:59] {dino} small

[09:59] {ese} if anything ya

[09:59] {Threei} invalidated again

[10:00] {jfjf64} out even axp

[10:01] {ese} HIG capitulation

[10:01] {jfjf64} yup

[10:01] {dino} pcln, break of .00, sm s trig imo

[10:02] {jfjf64} .25 break hig

[10:02] {ese} i'll try that....

[10:02] {jfjf64} in

[10:03] {jfjf64} comon ese

[10:04] {ese} watchin pclnb

[10:04] {ese} lokks good though jf

[10:05] {jfjf64} monday monday

[10:05] {ese} great tune.....and it applies

[10:06] {Threei} Long Setup: AIG 29.10 break

[10:06] {Threei} if stays above 29

[10:07] {jfjf64} stop hig

[10:07] {jfjf64} in 11 aig

[10:08] {jfjf64} wher is ya stop vad

[10:08] {Threei} [10:06] {Threei} if stays above 29

[10:08] {nemo} .00

[10:08] {jfjf64} sorry mr vad was in hig

[10:09] {Threei} not 00 nemo... under

[10:09] {nemo} 29.00

[10:09] {jfjf64} ty

[10:09] {Threei} UNDER

[10:10] {Threei} 1:1

[10:10] {Threei} half out .35

[10:10] {ese} Laig .19

[10:10] {Threei} sorry, .25

[10:10] {jfjf64} half out

[10:10] {Threei} ese... .19??

[10:10] {ese} out .28

[10:10] {ese} +.09

[10:11] {jfjf64} go aig

[10:11] {Threei} 1/4 more out .38

[10:11] {BillyD} out aig ty

[10:11] {ese} ya i had a buy stop at .20 from that 1 min bar just after 10am

[10:12] {jfjf64} done

[10:12] {jfjf64} ty vad

[10:12] {Threei} last portion stop under .10, offering .55

[10:12] {ese} in and out with 4k....i'm happy

[10:13] {ese} you all are doing well

[10:13] {Threei} just entry was a bit too high ese... it established nice tight range lower, which was the reason for my call

[10:13] {jfjf64} aig .45 break i will try again

[10:16] {ese} at 10.02 am i have a 1min bar with a high of .20.....was waiting for that break

[10:16] {ese} and was looking for the market to bounce up

[10:16] {ese} waited too long you figure?

[10:17] {Threei} it danced netween 29 and 29.10 enough to form a tighter entry

[10:18] {BillyD} perfect setup for AIG

[10:18] {BillyD} not often that tight

[10:18] {ese} missed pcln......watching aig

[10:18] {ese} dino did you get in?

[10:20] {nemo} rimm Vad

[10:23] {Threei} can't believe AIG bounced from .10... how's that for precision

[10:24] {BillyD} especially for its volatility

[10:24] {Threei} yeah

[10:24] {BillyD} it might hold a conventional support

[10:24] {Threei} accident of course but plesant nonetheless

[10:25] {magoo} still in it looking for rip

[10:26] {magoo} sigh..takes .50 and falls

[10:27] {dino} no es

[10:28] {Threei} (RU) Russian Financial Minister: Sees no need for Rouble devaluation

[10:28] {ese} it's ming a nice move

[10:29] {Threei} nope, it will happen by itself, why bother

[10:29] {ese} making

[10:29] {dino} yeah, 150 strikes

[10:30] {dino} this should about do it, imo

[10:32] {fernp} BAC breakout, Vad?

[10:32] {ese} yes

[10:32] {ese} heck of a move +18 pts

[10:32] {Threei} can't tell fern

[10:33] {Threei} potential for a trap is just as great

[10:33] {dino} missed it

[10:34] {magoo} out AIG

[10:34] {fernp} ok, i'll try .75 with half lot. TY

[10:35] {ese} L BAC .71

[10:36] {ese} stop .69

[10:38] {magoo} hig trying vad

[10:39] {dino} pcln sm s .00

[10:39] {Threei} I'd like to try coinservative entry on it mags

[10:39] {Threei} let it pull back under .30

[10:39] {Threei} grab it with stop under .20

[10:39] {magoo} yea..ok

[10:40] {magoo} RIMM yet vad?

[10:40] {Threei} hwere we go

[10:40] {Threei} RIMM no

[10:44] {dino} cov pcln .40, +.60

[10:45] {Threei} HIG 1:1 from .30 entry

[10:45] {Threei} while regular break would have kept you at merely 1/3 r/r here

[10:45] {magoo} i make the snowballs...vad throws them :)

[10:47] {Threei} AIG strill not shortable...

[10:47] {Threei} wanted to call 29 break

[10:47] {Threei} tested, not available

[10:48] {Threei} grrr

[10:48] {magoo} its time for RIMM imo

[10:48] {Threei} look how it would have worked

[10:48] {ese} nice one dino

[10:48] {Threei} maybe mags... I am wary of it for now, it's disproportionally weak

[10:53] {ese} out BAC .80 +.09

[10:55] {Threei} nice scalping footwork

[10:56] {ese} tks.....Bac feels very comfortable to trade ....for the size....the fills are instantaneous

[10:56] {Threei} they are on any stock with right broker :)

[10:57] {ese} i hear ya.....i do need to change mine

[10:58] {dino} thx es, and gj

[10:58] {ese} tks also

[10:59] {ese} vad...take a look at drys for me.....04 cent consolidation around .50....this should go up

[10:59] {Threei} it's a valid setup

[11:00] {Threei} whether it works or not is up to trading gods

[11:00] {ese} ya.....thats i was thinking

[11:00] {Threei} I am more fond of conservative entries today

[11:00] {Threei} or agressive

[11:00] {Threei} regilar ones have less chance

[11:01] {magoo} almost green index

[11:01] {ese} what do you consider drys to be

[11:01] {BillyD} look at CROX...nice uptrend today

[11:01] {Threei} .50 break would be regular

[11:01] {ese} OK,,,gotcha

[11:01] {Threei} entry on dive to .45 a few min ago would be aggressive

[11:02] {ese} tks

[11:03] {fernp} out BAC +.10

[11:03] {ese} nice one fern

[11:03] {fernp} ty ese

[11:04] {ese} 20K ?

[11:04] {fernp} half lot. 500

[11:04] {ese} that works....nice one

[11:08] {dino} pcln continues down, cov too soon

[11:09] {ese} my wife the nurse just took a look at drys 1min chart......and quips...."looks like a fetal heart rate"......had to be here ...was funnny

[11:10] {Threei} lol

[11:14] {ese} market has gone comatose

[11:16] {nemo} the market is one with Vad

[11:16] {ese} can here the ummmmmmmm ummmmmmmmm ummmmmmmmm from here

[11:16] {nemo} it's more like Ohmmmmmmmmmmmmm

[11:17] {ese} no it's ummmmmmmmmmm followed by a question in his head......"what in heack are they doing this to me for?"

[11:18] {nemo} I get it.

[11:19] {Threei} you are severely overestimate the sophisticaon of my mental process, ese

[11:19] {Threei} it's more like:

[11:19] {Threei} who are they?

[11:19] {Threei} what am I doing here?

[11:19] {Threei} what do all these blinking numbers mean?

[11:19] {ese} and whay have I subjected myself to this?

[11:20] {Threei} no... still too sophisticated...

[11:20] {Threei} would have to define "this"

[11:21] {ese} ha ha lol

[11:21] {Threei} btw ese

[11:21] {Threei} recognize the spot:

[11:22] {Threei} http://www.realitytrader.com/photography/2009/08/can-you-think-of-better-walking-trails.html

[11:22] {ese} will have a look

[11:22] {Threei} there are two actually, dailight and sunset are taken in diff places

[11:23] {ese} how about island view beach?????????

[11:23] {ese} that was my wifes quess

[11:24] {Threei} Dallas rd for daylight... :0

[11:24] {ese} ahhhhhh.......Washinton Stae across the way.....got it

[11:25] {fernp} really good pics

[11:25] {Threei} ty

[11:25] {ese} excellent pics........second calling i would say

[11:25] {Threei} {BillyD} where'd you bought'em?

[11:25] {BillyD} 6

[11:25] {ese} ouch!

[11:26] {BillyD} sorry, thought you were asking about CROX

[11:26] {Threei} lol

[11:26] {BillyD} lol

[11:26] {BillyD} I remeber now though

[11:27] {BillyD} I like RRD chart but not sure about follow thru in this mkt

[11:27] {ese} am going comatose......have finger on buy trigger for drys......almost ....almost.......almost..........ahhhhhhhhhhhhh.......grabbed right hand away with left.....pheeeeeeeeeewwwwwww

[11:28] {ese} grabbed right hand away with left

[11:28] {Threei} lol

[11:28] {Threei} .75 break in retrospectwas better setup

[11:28] {ese} that was close

[11:28] {Threei} on RRD

[11:28] {BillyD} yeah

[11:29] {BillyD} I wasn't there in retrospect...lol

[11:29] {Threei} keeping an eye on WFC

[11:29] {Threei} in real retrospect, none of us was... {G}

[11:29] {BillyD} very true

[11:29] {Threei} unless in previous life

[11:30] {Threei} WFC stays green and lcose to day high while market retreats

[11:30] {ese} right hand on buy trigger for WFC....................almoooooooooost..............taken away at the last second.....pheeeeeeeeeew

[11:30] {ese} mind games with the market

[11:30] {Threei} lol... Monday has ese at total loss of self-control

[11:31] {fernp} ese, are u going to try .50 long on DRYS?

[11:31] {ese} shere am i...........whats this board.....who are you guys...........zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[11:31] {ese} considering it fern

[11:32] {fernp} ok

[11:32] {ese} market has to do something first......anything

[11:32] {fernp} true

[11:45] {Threei} trying to make uop my mind on WFC range break'

[11:45] {Threei} still no opinion

[11:46] {BillyD} not much conviction out there

[11:48] {Threei} no

[11:49] {Threei} maybe just scalp it within the rane instead if market bounces

[11:49] {Threei} range

[11:49] {nemo} could bounce at .78 pivot at .70

[11:49] {Threei} (RU) Reportedly new Russian car sales in July fall 58% y/y to 157.9K units

[11:51] {nemo} bounced at .78

[11:51] {Threei} I ttok .79

[11:52] {Threei} call me "beyond bored"

[11:52] {ese} LADA ?

[11:52] {fernp} took .80 here

[11:52] {nemo} what chapter in the "Captain Obvious" story is that?

[11:52] {Threei} AIG... this thing just won't quit

[11:53] {Threei} boredom trades get punished fern, eh? :)

[11:54] {fernp} yeah

[11:54] {Threei} although market feels like stronger bounce is coming

[11:54] {fernp} .76 is my stop still in

[11:55] {Threei} yup

[11:58] {ese} gotta say.... I like the drys is holding up as the market is tanking.....

[12:02] {Threei} I am out fern

[12:02] {Threei} .86

[12:02] {fernp} not filled here

[12:02] {Threei} it's coming

[12:02] {Threei} still no??

[12:03] {fernp} yes yes

[12:03] {Threei} gosh, what your broker routes with?

[12:03] {Threei} :)

[12:03] {fernp} ARCA

[12:03] {Threei} and no routing out to other ECNs or what

[12:03] {Threei} there were INET, BATS and someone else at the bid

[12:04] {Threei} and EDGX was the only one remaining at the offer

[12:04] {fernp} I am testing Laser. so I have Laser + brokers' execution window

[12:04] {Threei} you should have been taken out faster

[12:04] {fernp} a mess

[12:10] {magoo} HIG was stronger than mkt vad..

[12:10] {magoo} on mkt pullbk

[12:11] {Threei} true

[12:11] {Threei} and moves up now

[12:13] {Threei} if we get lucky to have opullback closer to .40 I'd be interested

[12:16] {magoo} and u dont think RIMM will bounce?..never ever ever again?

[12:17] {dino} rimm to 70 by exp. imo magoo

[12:17] {ese} man this consolidation in drys is traders dream for institutional traders moving 100000shs lots back and forth across .01 for .01 cent each time....easy money

[12:18] {Threei} not jazzed about RIMM mags

[12:21] {dino} genz drop

[12:25] {fernp} AMAT breaking today and friday low

[12:29] {ese} it seems to me the last 3 trading sessions....the market has bias to the down side......corection coming maybe?

[12:30] {dino} would seem overdue. plus week before exp. usually down 36%

[12:30] {dino} 3-6%

[12:32] {ese} would agree

[12:32] {fernp} out AMAT +.06

[12:33] {dino} gj

[12:33] {ese} gj fern

[12:33] {fernp} ty

[12:33] {ese} nice capitulation

[12:36] {dino} pcln droppping, last support around 147.20, break of tha may be trig short

[12:37] {dino} and as soon as i type that it jumps

[12:47] {dino} genz lod

[12:47] {ese} BAC fighting the market as well now

[12:48] {ese} maybe not

[12:52] {Threei} ok... here goes:

[12:52] {Threei} Guess who is on TV

[12:53] {Threei} I know larisa, I know

[12:53] {larisa} yes please

[12:56] {nemo} anybody check Vad's vital signs

[12:57] {Threei} why

[12:57] {nemo} make sure it's only a coma

[12:57] {Threei} of course it is... occurs every day

[12:58] {Threei} although astute observer would say, started years ago and still continues

[12:58] {nemo} Haven't heard a peep out of the bird either

[12:59] {ese} 3rd big buy for drys....vad would you mind having a look at that and confirming that for me......or is that a sell?

[13:00] {ese} is that accumulation in Drys?

[13:01] {Threei} most likely

[13:01] {ese} tks

[13:03] {magoo} news STT"

[13:04] {Threei} STT $625M 2007 legal reserve set for exposure fo sub-prime crisis and fixed income strategies may not be sufficient - WSJ cites 10-Q filing issued earlier today

[13:04] {Threei} - Reserve at June 30 stood at $193M (51.96, -1.90, -3.53%)

[13:04] {dino} new lows

[13:21] {Threei} Long Setup: WFC .40 break if stays above .35

[13:23] {Threei} no go

[13:24] {fernp} stopped

[13:24] {magoo} ]read on STT vad..i thinkin short

[13:24] {ese} L Drys .45

[13:25] {Threei} hard to tell mags

[13:25] {Threei} double bottom is just as likely

[13:25] {magoo} but all finans are weak here

[13:28] {Threei} DNDN Hearing Deutsche Banking making positive comments (timing uncertain) (23.68, -0.13, -0.55%)

[13:36] {Threei} havce a look at HGSI daily guys

[13:37] {Threei} IMO, shapes up as a play in the future

[13:37] {Threei} goes through toght consolidation under 15 on disappearing volume

[13:40] {Threei} WFC

[13:40] {Threei} double bottom is shaping up

[13:41] {Threei} .20 saupport for stop placing just under

[13:42] {Threei} entry is wherevr yolur aggressiveness tells you to

[13:42] {jfjf64} in

[13:44] {ese} in what?

[13:44] {Threei} lol

[13:44] {Threei} ese, following my steps?

[13:44] {Threei} living in coma?

[13:44] {Threei} out

[13:44] {jfjf64} wfc

[13:44] {ese} indeed

[13:44] {fernp} out RIMM from .26 to .36

[13:44] {Threei} took .26, so I am comfortable with .40 exit

[13:44] {patel} thanks 3i

[13:44] {Threei} 1:2

[13:44] {jfjf64} 1/1 half out

[13:45] {patel} all out

[13:45] {ese} L drys still

[13:45] {chiro} woot!!!...just took .40 from RIMM ...after shorting all morning

[13:45] {Threei} you guys should be ashamed of yourselves

[13:45] {Threei} world suffers... and here you are, profiting from the market

[13:46] {Threei} nasty really... no comradierre

[13:46] {ese} helping the world to be honest

[13:46] {jfjf64} stop at .35

[13:46] {patel} yes, stimulating this economy

[13:46] {patel} lol

[13:46] {Threei} what a perfect formation on WFC

[13:46] {Threei} double bottom with higher low

[13:46] {chiro} y is genz up?

[13:47] {jfjf64} done

[13:47] {jfjf64} ty vad wfc

[13:48] {Threei} sure

[13:48] {magoo} out wfc ty

[13:48] {Threei} GENX had news chiro

[13:48] {Threei} GENZ

[13:49] {chiro} ty

[13:49] {Threei} confusing financial statements, read for yourself and see if you can make sense of it

[13:49] {Threei} Monday, August 10, 2009 1:13:14 PM

[13:49] {Threei} Genzyme Corp Provides Update on Cerezyme Supply; Guides 2009 at low end of prior guidance ranges ($2.35-2.90 v $2.80e, $4.6-5B v $4.75Be)

[13:49] {Threei} - Genzyme has made the decision to discard approximately 80% of remaining work-in-process material. This decision was made to minimize risk to the Allston plant and ensure that new supply will be available by the end of this year.

[13:49] {Threei} - Genzymes decision to discard the majority of the work-in-process material has resulted in a Q2 write-off of approximately $8.4M in addition to the $14.2M write-off previously reported. As a result, the companys second-quarter GAAP net income is now $187.6M or $0.68 per diluted share, compared with $192.2M or $0.70 per diluted share reported on July 22. Genzymes second-quarter non-GAAP net income is now $226.6M or $0.82 per diluted share, compared with $232.5M or $0.85 per diluted share previously reported.

[13:49] {Threei} - If Genzyme does not finish and release any of the remaining material, the company would incur an additional write-off of approximately $2.7M. In addition, Genzyme is currently in discussions with regulatory authorities regarding the release of two lots of Cerezyme that were finished before the plant was shut down. If these finished goods are not released, Genzyme will incur an additional write-off of $3.1M.

[13:49] {Threei} - reminder: on 7/31, GENZ said FDA would reinspect the facility that makes Cerezyme after an initial inspection in May that resulted in a warning letter.

[13:49] {chiro} thnx...but id rather read charts

[13:49] {jfjf64} .93 l usb

[13:51] {dino} smaller than projected costs it would seem

[14:03] {fernp} LVS double bottom, Vad?

[14:03] {Threei} no

[14:03] {Threei} looks rather breakdownish to me

[14:04] {fernp} thanks

[14:06] {dptl} have a good evening all

[14:07] {fernp} bye dp

[14:07] {Threei} take care dp

[14:07] {ese} dddddddpppppppp take care

[14:10] {BillyD} anyone using the NASDAQ route with laser?

[14:11] {Threei} this is the one to use on NASDAQ stocks Billy

[14:12] {Threei} it's former INET/ISLD

[14:12] {BillyD} right and then have it route to INET

[14:12] {BillyD} Vad, under, your Route option on the menu bar

[14:13] {BillyD} dou you have routing strategy "Scan" selected

[14:13] {Threei} I have STGY

[14:14] {Threei} but I still haven't upgraded to latest version

[14:14] {BillyD} ok

[14:14] {Threei} so may not be exact match to yours

[14:15] {BillyD} sometimes it seems I have order sitting on INET for quite a while in advance and everyone else is hit first

[14:15] {BillyD} especially on thick stocks

[14:15] {Threei} dp is your man to talk about it

[14:15] {BillyD} ok, he just left

[14:16] {Threei} he has this approach where he watches for the most active ECN on certain stock

[14:16] {BillyD} ty

[14:16] {Threei} and uses it for their orders

[14:16] {Threei} says he gets his fills faster

[14:16] {Threei} EDGX or BATS for instance

[14:17] {BillyD} I have tried EDGX before

[14:18] {Threei} fern... shorted LVSA by any chance?

[14:18] {Threei} LVS

[14:19] {fernp} how do u know that?

[14:19] {fernp} shorted .38

[14:20] {Threei} I have camera in your office, didn't you know?

[14:20] {Threei} magoo starts his day by debugging his office

[14:20] {Threei} and manages to catch 4 out of 5

[14:20] {fernp} i have to do the same here ;-)

[14:20] {Threei} :)

[14:20] {Threei} [14:03] {fernp} LVS double bottom, Vad?

[14:20] {Threei} [14:03] {Threei} no

[14:20] {Threei} [14:03] {Threei} looks rather breakdownish to me

[14:21] {Threei} then it broike down...

[14:21] {Threei} so I asked :)

[14:21] {fernp} grabbed +.10 ty

[14:21] {Threei} :)

[14:28] {Threei} FRE S&P affirms ratings in light of Q2 results; sees US Govt providing 'extraordinary support' if deemed necessary (7.72, +0.03, 0.39%)

[14:40] {ese} days like this give new meaning to etching out a living

[14:54] {Threei} see now why I prefer coma?

[14:55] {BillyD} coma saves from forcing trades

[14:56] {Threei} yup

[15:12] {Threei} 32% Favor Single-Payer Health Care, 57% Oppose

[15:12] {Threei} On Health Care, 51% Fear Government More Than Insurance Companies

[15:12] {BillyD} only 49% left to wake up

[15:12] {Threei} lol

[15:13] {Threei} scariest words in the world:

[15:13] {Threei} I am from the goverment and I am here to help

[15:13] {nemo} beat me to it

[15:13] {nemo} come comrade, you are sick

[15:13] {Threei} I am faster in my coma than you are in yours

[15:14] {chiro} perhaps, but i snore louder

[15:16] {chiro} r u surprised that RIMM isnt participating in this bounce?

[15:16] {Threei} no

[15:16] {Threei} didn't like it whole day

[15:19] {dino} pcln spike

[15:20] {ese} wow

[15:20] {ese} almost up 20pts on the day

[15:22] {ese} enhanced college fund somewhere

[15:27] {jfjf64} lets go boys ..85 break aig

[15:28] {jfjf64} weird day

[15:29] {Threei} Monday... mid August

[15:29] {Threei} you made money today?

[15:29] {jfjf64} little

[15:29] {Threei} frame it and put it on the wall

[15:30] {Threei} we run somethere around 80% this summer by my intuitive estimate

[15:30] {Threei} tell about it any trader outside of this asylum,

[15:30] {jfjf64} aig

[15:30] {Threei} see their reaction

[15:31] {jfjf64} gonna go

[15:32] {jfjf64} in

[15:32] {jfjf64} hope it wasnt trapppppppppppppp

[15:33] {jfjf64} grrrrrrrrrrr

[15:33] {jfjf64} sd learn the coma

[15:37] {Threei} (US) California could reportedly disclose timing of end of IOU program tommorow

[15:39] {jfjf64} lvs c/h

[15:39] {Threei} nah

[15:39] {jfjf64} ty

[15:42] {jfjf64} good night guys

[15:42] {BillyD} same here, cya tomorrow

[15:43] {Threei} take care guys

[15:53] {Threei} DNDN Signs Lease for New Manufacturing Facility in Atlanta

[15:53] {Threei} - signed a lease agreement with Majestic Realty Co. to build a 160,000 square-foot manufacturing fac

[15:53] {Threei} ility

[15:55] {Threei} okay guys, thank you all

[15:55] {larisa} bye :)

[15:55] {Threei} have a good evening, see you tomorrow

[16:00] {fernp} good nite all

[16:03] {ese} later eh......

Aug 07 2009

Very nice finish to the week. Just one 10 cents stop, and wins were mostly on pullback long entries on HIG, AIG, WFC, HGSI, LVS with one short on WFC. Nothing to complain about, with some members reporting their best week of the year.

Session Time: Fri Aug 07 00:00:00 2009

[08:07] {nemo} now we know what the deal on aig was

[08:09] {JohnK} gm folks

[08:21] {Threei} Good morning

[08:21] {Threei} BLTXX Baltic Dry Bulk Index -4.6% (7th straight decline

[08:26] {nemo} anything playable off the jobs report?

[08:30] {nemo} must be good

[08:30] {Threei} *JULY CHANGE IN NONFARM PAYROLLS: -247K V -325KE; CHANGE IN MANUFACTURING PAYROLLS: -52K V -100KE

[08:30] {Threei} - Prior nonfarm payrolls revised from -467K to -443K

[08:30] {Threei} JULY UNEMPLOYMENT RATE: 9.4% V 9.6%E

[08:30] {Threei} *JULY AVERAGE HOURLY EARNINGS M/M: 0.2% V 0.1%E; AVERAGE WEEKLY HOURS: 33.1 V 33.0E

[08:30] {Threei} - Average Hourly Earnings Y/Y: 2.5% v 2.5%e

[08:32] {nemo} interesting, slightly more hours worked than expected for the same money as expected, that's not positive

[08:33] {BillyD} GM all

[08:34] {Threei} Billy...

[08:34] {Threei} where have you been yesterday

[08:34] {Threei} missed beautiful day

[08:34] {BillyD} some things to take care of

[08:34] {nemo} geez dad....

[08:34] {BillyD} saw the log

[08:34] {BillyD} maybe a repeat eh????

[08:37] {Threei} why not... let's by HIG again :)

[08:39] {BillyD} was there good jobs data?

[08:39] {BillyD} reason forspike up

[08:40] {Threei} yep

[08:41] {Threei} [08:30] {Alert} Threei *JULY CHANGE IN NONFARM PAYROLLS: -247K V -325KE; CHANGE IN MANUFACTURING PAYROLLS: -52K V -100KE

[08:41] {Threei} [08:30] {Alert} Threei - Prior nonfarm payrolls revised from -467K to -443K

[08:41] {Threei} [08:30] {Alert} Threei JULY UNEMPLOYMENT RATE: 9.4% V 9.6%E

[08:59] {ese} gooooood morning

[08:59] {Threei} ese :)

[08:59] {larisa} gm :)

[08:59] {ese} hey larisa

[09:00] {Threei} larisa :)

[09:00] {larisa} ese, vad :)

[09:01] {ese} at some point that dry bulk index will go up

[09:03] {Threei} that was my first thought this morning ese

[09:03] {Threei} it drops for 7 days straight,

[09:03] {fernp} good morning everybody

[09:03] {Threei} fern :)

[09:03] {Threei} DRYS however is more or less holding

[09:03] {Threei} the day index revrses DRYS should explode

[09:04] {ese} i'm still long my drys from yesterday at .40 would be nice if it did it today

[09:05] {Threei} well, today index is still down :)

[09:06] {ese} hmmmmmm

[09:07] {Threei} [08:21] {Alert} Threei BLTXX Baltic Dry Bulk Index -4.6% (7th straight decline)

[09:16] {ese} improvement in unemplyment rate and non farm payrolls.....looks like the reason for up start to the day

[09:16] {Threei} it's going to be interesting

[09:16] {Threei} here is what I mean:

[09:16] {Threei} we rallied for months with no positive news,

[09:16] {Threei} wirth extremely negatiove background noise,

[09:17] {Threei} and last week or two we started hearing all kinds of "recession is about over",

[09:17] {ese} yup

[09:17] {Threei} and now we are getting first signs of positive economic data.

[09:17] {Threei} Red day would signal strong reversal coming

[09:17] {ese} your thinking reversal

[09:17] {JohnK} T, do you think they'll eventually sell the news?

[09:18] {Threei} rather like:

[09:18] {JohnK} soon?

[09:18] {Threei} I am waiting to see if it's a red day in order to get a confirmation of reversal

[09:18] {Threei} that's how it usually works John

[09:18] {JohnK} I think so too

[09:18] {Threei} put the bottom in and reverse to the upside when it's the darkest,

[09:19] {Threei} rally on no good news,

[09:19] {Threei} spike right before or on positive news,

[09:19] {Threei} put the top in and reverse to the downside as news become rosey

[09:20] {Threei} Normal market cycle...

[09:20] {Threei} happens for eons, yet every time catches public by surprise

[09:20] {Threei} and causes all kinds of screams about manipulation

[09:21] {Threei} even though this scenario is of public's making in the same degree as smart money's

[09:21] {Threei} For it to happen, both sides must fufill their roles:

[09:22] {cosmo} ya know.... its just human nature

[09:22] {Threei} smart money to start accumulating when news is the worst possible and market is destroyed

[09:22] {Threei} and for public to wait with their buying until the news is at its happiest and market has rallied quite a bit

[09:22] {Threei} Smart money did its part,

[09:22] {Threei} now public's turn {G}

[09:23] {BillyD} so true

[09:23] {cosmo} so ... time to buy?

[09:23] {Threei} if you keep tabs on our plays from long/short ratio point of view,

[09:23] {BillyD} lol

[09:24] {JohnK} Yet, when we see this next top, it'll be a profit taking top, rather than a OMG sky's falling top... the pullback should be relatively shallow, right?

[09:24] {Threei} you will see how we used to short a whole lot last fall/winter/beginning of this year,

[09:24] {Threei} and how we play almost exlusively long side for the last few months

[09:24] {Threei} yes coosmo, and put it in your long term account saying "it will be back" :)

[09:25] {Threei} don't know if it's going to be shallow pullback/resumption or deeper drop, recovery and range bound trading for a while, John

[09:25] {Threei} both scenarios are plausible

[09:28] {magoo} ugegejkalkdfsa

[09:28] {Threei} I'll take it as a good morning

[09:28] {Threei} call me optimistic and trusting

[09:28] {ese} uffdidoiuwwwmdidak mags

[09:29] {jfjf64} mornin all

[09:29] {ese} jf

[09:29] {Threei} jf :)

[09:29] {Threei} btw

[09:30] {Threei} AIG

[09:30] {Threei} Friday, August 07, 2009 7:06:26 AM

[09:30] {Threei} American International Group, Inc Reports Q2 $2.30 v $1.67e (unclear if comparable), R $29.52B v $19.9B y/y - filing

[09:30] {Threei} - Q2 EPS on Adjusted basis $2.57.

[09:30] {Threei} - Q2 Combined ratio 98.2 v 92.2 y/y

[09:30] {Threei} - Q2 General Insurance operating income (before net realized capital gains) was $971M v $446M q/q

[09:30] {Threei} - Q2 life insurance and retirement services op income (before net realized losses) $1.82B v $1.2B q/q

[09:30] {Threei} - Q2 financial services operating loss (ex net realized losses) -$105M v -$1.1B q/q

[09:30] {cosmo} NVDA should hold 13.80

[09:32] {jfjf64} lvs

[09:32] {jfjf64} .86 trigger

[09:32] {Threei} LVS, 11.90 long establishd resistance

[09:33] {Threei} if takes it and doesn't trip of 12, has a a chance for a big move

[09:33] {jfjf64} ty ty

[09:35] {jfjf64} rimm??

[09:35] {Threei} just follows market, no clear play

[09:35] {jfjf64} hig 19 break

[09:36] {Threei} AIG

[09:36] {Threei} 3 dollars pullback

[09:36] {Threei} and counting

[09:36] {jfjf64} hig no go

[09:36] {magoo} was watching

[09:37] {Threei} bounce off 24 is likely

[09:37] {Threei} no "oficial" call, risk is enormous

[09:37] {jfjf64} k

[09:38] {jfjf64} nasty pullbacks

[09:38] {Threei} if you went for it, get out herte

[09:38] {jfjf64} tk look at met

[09:38] {Threei} quick dollar is nothing to sneeze at

[09:38] {Threei} OK, HIG

[09:39] {Threei} 18.50 is nice support to start looking for a bounce

[09:39] {Threei} normal routine is on for bottom fishers

[09:39] {Threei} .30 break if holding .20

[09:39] {Threei} etc

[09:39] {Threei} .20 if holding .10 now

[09:39] {Threei} you know the drill

[09:40] {Threei} just no chasing if missed

[09:40] {Threei} a bit too fast

[09:40] {wulff} that was quick!

[09:40] {Threei} I don't suppose anyone caught it

[09:41] {BillyD} not here

[09:41] {Threei} [09:37] {Threei} bounce off 24 is likely

[09:41] {Threei} look at AIG's low

[09:41] {jfjf64} nope

[09:41] {magoo} out AIG here .15 +.75 TY vad

06[09:41] * Threei slaps magoo around a bit with a large roll of cash

[09:41] {fernp} BAC?

[09:42] {Threei} yes fern

[09:42] {jfjf64} nice mags

[09:42] {Threei} same routine

[09:42] {Threei} .50 nearest support

[09:42] {fernp} ok

[09:43] {jfjf64} .68 hig here

[09:43] {jfjf64} double top lets go

[09:43] {Threei} WFC on radar too

[09:43] {Threei} .20 break if holding .10

[09:44] {Threei} and guys... if bottom fishing is not your cup of tea, skip these plays

[09:44] {Threei} this morning is not for open breaks so far, it's for pulback-catchers

[09:44] {jfjf64} hate tea

[09:45] {jfjf64} in .70 hig

[09:45] {magoo} in wfc'

06[09:45] * Threei slaps jfjf64 around a bit with a large cup of mango-infused oblong tea imported from SA Asis

[09:46] {Threei} BCRX Hearing strength being attributed to takeover chatter

[09:46] {Threei} - Reportedly GSK rumored as interested name (9.33, +0.54, 6.14%) (related GSK )

[09:47] {jfjf64} met .90break

[09:48] {jfjf64} go hig

[09:48] {Threei} White House Romer: Considering extending unemployment benefits following August recess in Congress; Jobs number is the 'least bad' seen in months - tv interview

[09:48] {Threei} - Comments that the jobless rate has seen stability in prior two months; seeing signs of stability

[09:49] {jfjf64} 1/1

[09:49] {jfjf64} half out

[09:49] {Threei} WFC 1:1

[09:49] {fernp} ty

[09:50] {Threei} something we haven't played in ages and probably deserving a look again:

[09:50] {Threei} Long Setup: HGSI .30 break if stays above .20, half lot

[09:51] {Threei} WFC 1:2

[09:51] {Threei} mags, get out, will ya

[09:52] {jfjf64} hig yeahhhh

[09:52] {Threei} good one jf

[09:52] {magoo} out WFC .37 TY + .17 DL

[09:52] {wulff} out WFC

[09:52] {magoo} in hgsi

[09:53] {Threei} you guys know what you are you are doing... I can see my retirement nearing

[09:53] {magoo} oh no....

[09:53] {Threei} I just like this monastery so much

[09:54] {nemo} How many plays did I miss?

[09:54] {magoo} yea...u turned over a new leaf there

06[09:54] * magoo slaps nemo around a bit with a large trout

06[09:54] * magoo slaps nemo around a bit with a large trout

[09:54] {jfjf64} +10 1half +15 2 half

06[09:54] * magoo slaps nemo around a bit with a large trout

[09:54] {magoo} 3

[09:54] {larisa} yes, AIG was for nemo for sure :)

[09:55] {magoo} u gotta be loco choco to take that AIG call

[09:56] {Threei} [09:41] {magoo} out AIG here .15 +.75 TY vad

06[09:57] * Threei applies to admin for nick change for magoo, he will be known as "magoolocochoco" from now on

[09:57] {Threei} HGSI 1:1

[09:57] {nemo} I wasn't here but why was it for me, Lari?

[09:57] {larisa} not for me or for you or for any normal person :)

[09:57] {JohnK} great trade HGSI thx T :)

[09:58] {Threei} welcome

[09:59] {magoo} out hgsi TY

[10:00] {wulff} NAS can't break +21 yet

[10:00] {magoo} larisa still sour girl over our split :)

[10:01] {larisa} lol

[10:01] {BillyD} Vad, HIG if takes 19

[10:01] {Threei} not sure

[10:01] {magoo} prob is mkt looks to be pulling back billy

[10:02] {Threei} watching but can't make up my mind yet

[10:02] {BillyD} thx

[10:02] {jfjf64} lks lk trap at this point

[10:03] {nemo} market weakness

[10:03] {wulff} hig break?

[10:03] {Threei} [10:01] {BillyD} Vad, HIG if takes 19

[10:03] {Threei} [10:01] {Threei} not sure

[10:03] {Threei} [10:01] {magoo} prob is mkt looks to be pulling back billy

[10:03] {Threei} [10:02] {Threei} watching but can't make up my mind yet

[10:03] {jfjf64} steady vol

[10:04] {Threei} I guess...

[10:04] {Threei} Long Setup: HID 19 break

[10:04] {Threei} if stays above 18.90

[10:04] {Threei} HIG that was

[10:05] {jfjf64} mkin higher lows

[10:05] {jfjf64} .04 in

[10:05] {magoo} in

[10:06] {jfjf64} large vol spike ??

[10:06] {Threei} no go

[10:06] {magoo} it duped us

[10:06] {nemo} duped you

[10:07] {jfjf64} grrrrrrrrrrrrrrrrr

[10:07] {Threei} hectic up and down within narrow range, not worth it

[10:07] {Threei} leave it alone

06[10:07] * nemo slaps magoo around a bit with a large minah bird

[10:07] {Threei} Long Setup: LVS .50 break

[10:07] {Threei} if holding above .40

[10:09] {magoo} in

[10:10] {nemo} me too

[10:10] {jfjf64} ditto

[10:11] {jfjf64} comon vadd do a little lvs dancs lvs lvs lvs

[10:11] {Threei} lol

[10:11] {jfjf64} double top double top double top

[10:12] {jfjf64} i think i gone nuts

[10:12] {Threei} almost 1:1

[10:12] {jfjf64} hig

[10:12] {Threei} I don't expect it to be more than a scalp

[10:12] {Threei} 1:1

[10:12] {Threei} I am out

[10:12] {magoo} out .60 DL ty boss

[10:13] {jfjf64} out

[10:13] {jfjf64} ty

[10:13] {magoo} let me beat u too it vad.......

[10:13] {Threei} [09:44] {Threei} this morning is not for open breaks so far, it's for pulback-catchers

[10:13] {nemo} I'll take the scalp (w a rusty knife)

[10:13] {Threei} look:

[10:13] {magoo} no, u cant go home yet

[10:13] {Threei} all pullback entries worked,

[10:13] {Threei} single time I tried breakout, hesitantly,

[10:13] {Threei} was the only stopped play

[10:14] {Threei} gotta go with my instincts and stop trying to outsmart myself

[10:14] {nemo} there's a joke in there somewhere

[10:14] {jfjf64} qid .60break

[10:14] {Threei} and not one nemo

[10:14] {Threei} I already thought of three

[10:15] {Threei} thgis I must show you guys,

[10:15] {Threei} I know you would believe my word too, without visual proof,

[10:15] {nemo} Vad would never tell a lie

[10:15] {Threei} but this precision and craftmanship deserve a little bragging

[10:16] {Threei} too bad only 300 shares were available, but:

[10:16] {Threei} http://realitytrader.com/vad/AIG%20entry.jpg

[10:16] {jfjf64} invalid breaks no wk

[10:16] {nemo} yeah, but you missed the 3$ short

[10:17] {Threei} can I kick this guy out of the room for the next three months?

[10:17] {Threei} let's vote

[10:17] {jfjf64} ??

[10:17] {Threei} [10:16] {nemo} yeah, but you missed the 3$ short

[10:18] {Threei} :)

[10:18] {nemo} I can hear you hand slapping yourself on the back from here

[10:18] {Threei} what, no single word of praising for the most precise entry possible on AIG today?

06[10:19] * Threei removes himself to a monastery for the next 7 years

[10:19] {magoo} i vote he stays (u owe me now capn nemo)

[10:19] {larisa} where did you exit ?

[10:19] {nemo} Sorry, I'm still getting organized from my internet fiasco

[10:19] {Threei} 24.86

[10:19] {larisa} very nice

[10:19] {nemo} why didn't you pick up an ese allotment a penny or two higher?

[10:19] {Threei} ty larisa, you are the only one I am going to comunicate with from Tibet

[10:20] {nemo} I can find you there

[10:20] {Threei} not if my cave entrance is protected with two machine guns... which is my intention

[10:20] {fernp} perfect entry Vad. 24.00 was lod

[10:20] {Threei} :)

[10:21] {BillyD} Vad, anything on chart for 24 on AIG or just looked right

[10:21] {Threei} pure guts

[10:21] {Threei} no technicals to this kind of things

[10:21] {BillyD} what I thought.......caught the very tip of the knife

[10:22] {Threei} some of bottom fishing can be done with some technicals, like we did on LVS

[10:22] {Threei} that one was based on certain chart structure

[10:22] {Threei} AIG was not

[10:22] {nemo} discretion was the bettor ({pun intended) part of valor on lvs

[10:23] {jfjf64} axp what up

[10:24] {jfjf64} .40 break was sleepin

[10:24] {jfjf64} lk at vol

[10:24] {jfjf64} vol never lies

[10:25] {ese} L hans .63

[10:25] {jfjf64} or does it vad

[10:26] {nemo} aig C&H?

[10:26] {Threei} kind of nemo

[10:27] {nemo} teeny weeny handle, but looks like it's breaking resistance on rising volume

[10:27] {jfjf64} gonna touch high ese nice

[10:28] {ese} Out HANS .78 +.15

[10:28] {nemo} 20k of the little buggers?

[10:28] {ese} tks

[10:28] {jfjf64} nice

[10:28] {ese} 4k

[10:28] {ese} sorry 3k

[10:28] {jfjf64} aig grrrrrrrrrrrrrrr nemo hope ya in c/h

[10:29] {nemo} no, it was gut

[10:29] {nemo} don't trust that yet

[10:30] {ese} I think hans is just gonna creep on up there jf

[10:30] {ese} almost at high now

[10:30] {ese} done deal

[10:31] {jfjf64} .89 break

[10:31] {jfjf64} hans in

[10:32] {ese} nice move as well jf

[10:32] {jfjf64} nice on little puulbk see what happens

[10:33] {nemo} interesting $ up and market up

[10:33] {wulff} revenge on HIG stop +.17

[10:34] {jfjf64} hit me grr

[10:35] {wulff} got back in at .82

[10:36] {jfjf64} fas .87 break

[10:37] {nemo} wow

[10:37] {magoo} in aig cross 19

[10:37] {magoo} liked it with futes

[10:37] {Threei} HIg you mean

[10:37] {magoo} i mean HIG

[10:37] {jfjf64} all out

[10:38] {ese} L zion .79

[10:38] {wulff} still have half lot

[10:38] {jfjf64} wow fas

[10:39] {ese} out zion .85 +.06

[10:39] {magoo} out here TY vad

[10:40] {ese} not trusting breakouts these days

[10:40] {magoo} want to catch a rip...but my instinct is scalpin

[10:40] {ese} me takes the intitial push and gets out if it pauses

[10:40] {magoo} very conflicted..cant catch a big one if i scalp

[10:40] {nemo} summer friday afternoon coming, question is: does the euphoria over the jobs report last?

[10:40] {magoo} but hate losing my $$

[10:40] {jfjf64} wfc

[10:41] {wulff} look at CAT resistance

[10:43] {fernp} have to go. see you all on monday

[10:43] {Threei} take care fern, have a good weekend

[10:43] {jfjf64} latre fern

[10:43] {ese} cya fern.....have a great weekend

[10:43] {Threei} biy, those europians... use any excuse to prolong their weekends and vacations {G}

[10:44] {ese} no kidding eh

[10:45] {wulff} AIG slow and steady

[10:45] {Threei} wulff must be the only one in this universe calling AIG slow this week

[10:46] {ese} L csco .67

[10:46] {jfjf64} lk .49 break aig 1000 shares .25cent stop

[10:47] {ese} bemoth......will take forever to climb

[10:47] {jfjf64} went to fast for me

[10:47] {nemo} behemoth?

[10:47] {ese} tks eggzactly

[10:47] {nemo} ur velcim

[10:48] {Threei} I think my mission on this planet is completed

[10:48] {ese} csco just crossed a 5 day high........this should carry on up if market keeps going

[10:48] {nemo} my typing isn't fubar yet

[10:48] {Threei} I taught so many people to spell things in the most perverse way possible

[10:49] {Threei} time to move to Jupiter

[10:49] {ese} your my idol there vad

[10:49] {nemo} they got monasteries?

[10:49] {Threei} although I have to say ese... your "eggzactly" leaves wanting a little

[10:50] {Threei} "eqzaktly" is more like it

[10:50] {nemo} koreqkt him Vad

[10:50] {ese} give me another chance.......just one more schance

[10:51] {ese} get goin csco you elephant you

[10:51] {nemo} frickin aig

[10:52] {nemo} wfc @ r1

[10:53] {nemo} aig touched and falling back

[10:53] {jfjf64} jpm monster

[10:55] {Threei} JAVA EU reportedly has found some problem areas in ORCL/JAVA merger deal related to middleware and database segments - unconfirmed report

[10:55] {Threei} - deadline for the companies to respond to a questionaire sent by the regulators is Aug 13.

[10:55] {Threei} - P... (9.11, -0.04, -0.44%) more... (related ORCL )

[10:57] {Threei} HIG feels like continuation

[10:57] {Threei} finding entry is not ver easy

[10:57] {Threei} jumpy

[10:57] {nemo} pru Vad

[10:57] {Threei} even jumpier

[10:58] {Threei} WFC, sheesh

[10:59] {magoo} this mkt is SICK

[10:59] {nemo} fits you to a "T"

06[10:59] * nemo slaps nemo around a bit with a large trout

[11:00] {nemo} your welcom magoo

[11:03] {nemo} aig break of .50?

[11:03] {Threei} if you can handle its volatility

[11:03] {nemo} guess it could go either way

[11:05] {ese} out csco .73 +.06

[11:05] {ese} 6k.....that good enough aye yi yi....that things moves slow

[11:06] {nemo} no

[11:09] {jfjf64} good day alll off to da bank got to luv this buiz

[11:09] {Threei} take care jf

[11:09] {jfjf64} ty for eveythin

[11:10] {BillyD} just an r & g short of complete word

[11:10] {BillyD} getting better

[11:10] {BillyD} lol

[11:10] {jfjf64} lol

[11:10] {BillyD} cya JF :)

[11:17] {BillyD} did time stop

[11:17] {nemo} happens when vad goes into coma

[11:18] {BillyD} can hear the PC fan motor to perfection

[11:18] {Threei} lol

[11:18] {Threei} nemo... as if I ever came out of it

[11:26] {nemo} fas break?

[11:26] {Threei} feels like a trap rathere

[11:26] {nemo} that was my gut, but thought I'd ask

[11:55] {BillyD} HIG is holding fairly well

[11:56] {Threei} tough read...

[11:59] {BillyD} these little mkt spikes mess up setups that try and form

[12:01] {magoo} yea..im fearful to short today...

[12:07] {ese} hmmmmmm....i'm fearfull shorting just about all the time....can't figure that out......

[12:07] {wulff} WFC short

[12:07] {BillyD} I like it

[12:07] {nemo} turn the chart upside down ese

[12:09] {ese} oh ya sure.......

[12:09] {ese} alright i'll give it a try

[12:09] {nemo} same patterns upside down

[12:09] {wulff} Wulff asks WFC to please drop

[12:10] {nemo} wulff type "/me asks WFC to please drop"

[12:10] {BillyD} where you in at wulff

[12:10] {wulff} 29 short

[12:10] {ese} hey wow....it works........Ok short 88000shs ofdrys

[12:10] {nemo} ese, wait till the buzz wears off

[12:11] {ese} just kidding......

[12:11] {nemo} jeez, thought you wer going to ask if I wanted to buy a bridge

[12:14] {wulff} I got to get some hobbies

[12:14] {wulff} this is torture

[12:16] {Threei} market is locked in 5 poits range for hour and half

[12:16] {Threei} why push?

[12:27] {Threei} AIG Discloses retention pay to cost $1.1B through 2011 - filing (26.60, +4.07, 18.06%)

[12:27] {larisa} ese, scalp shorts examples : counter trend shorts on JPM : 10:59 top created perfect price divergence and 12.08 double lower top. Strong stock, so scalps only. You have to feel exhaustion though price would still rise. Shorting bottoms on weak stock is diff mindset

[12:28] {dptl} good morning all

[12:28] {Threei} lol dp

[12:28] {dptl} :)

[12:28] {larisa} but "THEY" say trader have to do longs and shorts equally easy. Vad you agree ?

[12:29] {larisa} hi dp:)

[12:29] {Threei} I do larisa

[12:29] {Threei} it's not "must"

[12:29] {Threei} but it's a natural outcome of a trader's development

[12:30] {Threei} as one gets rid of ego-governed directional bias

[12:30] {Threei} it becomes absolutely the same

[12:30] {Threei} movement is movement, there is no emotional attachment to any direction

[12:31] {Threei} whichever way setup forms, you just take it'

[12:35] {patel} u like LVS over 12

[12:36] {Threei} if it weere Monday I would confidently say yes

[12:36] {Threei} chart is ggrea

[12:36] {patel} yup

[12:36] {Threei} time of day and day of the week is nort

[12:36] {patel} 200 day chart looks great

[12:36] {patel} nothing over 12

[12:36] {Threei} right

[12:37] {nemo} but it's Friday afternoon...does the market have another run?

[12:37] {patel} thats true nemo

[12:39] {Threei} 1:1

[12:40] {nemo} nice call patel

[12:40] {patel} tks

[12:41] {patel} i thought it could run after i saw the 200 day chart

[12:41] {nemo} should we generally be looking at scalps on Friday afternoon Vad?

[12:41] {Threei} [09:32] {Alert} Threei LVS, 11.90 long establishd resistance

[12:41] {Threei} [09:33] {Alert} Threei if takes it and doesn't trip of 12, has a a #discussionsce for a big move

[12:41] {Threei} generally, yes

[12:42] {nemo} unless your name is "Magoo"

[13:03] {Threei} US Treasury's Kruger: There are increasing signs that the economy is stabilizing

[13:04] {Threei} 2H09 growth in economy is 'plausible'

[13:04] {Threei} - Administration is concered over data showing long term unemployment

[13:17] {Threei} what's our obligatory phrase no day goes without?

[13:18] {larisa} I like him. let him talk :)

[13:18] {Threei} hehe

[13:19] {Threei} (US) President Obama: We are pointed in the right direction, jobs report is another sign the worst is behind us (related EUR/USD )

[13:50] {nemo} hows the coma vad?

[13:50] {Threei} just perfect

[13:50] {Threei} why?

[13:51] {nemo} bored...thought I'd ask, why?

[13:58] {Threei} 25% Agree With Pelosi That Health Insurers are Villains

[13:58] {BillyD} rofl

[13:58] {wulff} the other 75% agree she is a villian

[13:58] {Threei} :)

[13:58] {BillyD} they must know "they" of the market

[13:59] {larisa} :)

[14:01] {larisa} CNBC will believe this rally was for real when DJI back to 14K ?

[14:01] {BillyD} then it will be over

[14:03] {Threei} this is the concept I never really understood

[14:04] {Threei} everyone discussing "real" the rally is or not

[14:04] {nemo} rally is a rally...wtf

[14:04] {Threei} what do they mean not real, I see it with my own eyes

[14:04] {Threei} it happens

[14:04] {Threei} how can it be not real

[14:04] {nemo} they sound like a good argument for retro-active abortion

[14:04] {Threei} if they mean it's short-lived, well

[14:05] {Threei} that's up to anyone's market read

[14:05] {Threei} but whether it continues for 3 days or 3 years, it's real

[14:05] {Threei} words "fake rally" make no sense to me

[14:05] {BillyD} if it makes my stock move it is real....lol

[14:06] {Threei} I ave just one qwuestion

[14:06] {nemo} why?

[14:06] {Threei} if I go long and make money, and then they call the rally fake,

[14:06] {Threei} do I have to return my profit?

[14:06] {nemo} you have to give it to me

[14:06] {dptl} lol

[14:07] {BillyD} it would be the right thing to do vad

[14:07] {Threei} why... I invite you to go long with me, no?

[14:07] {Threei} free will, ya know

[14:07] {Threei} I am a big fan of free will

[14:07] {nemo} what's your's is mine and what's mine is mine...oh forgot, that's what wives say

[14:08] {Threei} I also like to take "theirs" from those who want to take mine {G}

[14:09] {nemo} yep...and some body parts to boot

[14:09] {Threei} I believe in reciprocation, and reciprocator's gotta do what reciprocator's gotta do

[14:10] {Threei} two machine guns in front of my Tibet cave entrance reinforce this motto

[14:10] {Threei} WFC... consolidation above 29 becomes interesting

[14:11] {Threei} if upward markert thurs proves a trap again,

[14:11] {Threei} Short Setup: WFC 29 breakdown if stays below 21.10

[14:11] {Threei} LVS... sigh

[14:12] {Threei} why couldn't 12 break occur on Monday

[14:12] {nemo} not fair

[14:12] {larisa} why? Friday's rally are fake? :)

[14:14] {Threei} I would be all over it with repetitive warning "not a scalp"

[14:14] {Threei} yes larisa... they are :)

[14:14] {larisa} ahha

[14:15] {Threei} diamonds given on Fridays are fake

[14:15] {Threei} salmon caufght on Friday is farmed

[14:16] {Threei} beef bought on Friday is ornages-fed

[14:16] {larisa} k, i got the picture

[14:17] {Threei} good... I may stop short of discussing silicon then

[14:18] {Threei} interesting... MGM is up but not following LVS in this recent explosion

[14:20] {Threei} WFC triggered

[14:23] {chiro} target on WFc?

[14:23] {Threei} can't really tell whether it's just a scalp of capable of more

[14:23] {Threei} let's comrpomise

[14:24] {Threei} if it works, cover 2/3 or 3/4 around 1:1

[14:24] {Threei} 1:1

[14:25] {Threei} covered 2/3

[14:25] {Threei} stop to 29.02

[14:25] {chiro} t u

[14:25] {Threei} y w

06[14:26] * Threei slaps nemo around a bit with a large reminder that good coma never stood in the way of good trading

[14:26] {BillyD} ty wfc

[14:26] {Threei} :)

[14:27] {jfjf64} ty also vad poped back in office nice nice got to luv ittttttttttttttttt

[14:28] {Threei} lol

[14:29] {Threei} you are insuffereable jf... your passion to make money, lol

[14:29] {Threei} probably exceeds evcen my ability to mistype things

[14:30] {dptl} ok...:)

[14:30] {dptl} have a good weekend all :)

[14:30] {Threei} take care dp, have a good one

[14:31] {Threei} (those lazy vancouverities)...

[14:31] {Threei} worse than europians

[14:31] {dptl} Vad fish here so trying to get as much as i can lol

[14:31] {Threei} get some for me?

[14:31] {jfjf64} i watched scarface last night got pumped up seein them carryin duffle bags of cash too bank turned out to be great day say hello to da bad guy

[14:32] {Threei} 'cause you know, they say we will run out of it somewhere around 2032

[14:32] {Threei} lol jf

[14:32] {dptl} my freezer is preatty much full :)

[14:32] {jfjf64} nice dp

[14:32] {Threei} scared to think what happens if you watch Once Upon a Time in America

[14:33] {jfjf64} vad must hv a walk in box what ya think

[14:33] {Threei} mine has some room, dp

[14:33] {dptl} would you like it salted or fresh?

[14:33] {Threei} ummm... both? :)

[14:33] {dptl} lol.....ok

[14:34] {jfjf64} take it any way i cd gt it

[14:34] {magoo} AIG

[14:34] {Threei} I accept fish as a bribe

[14:34] {Threei} I haven't come up with idea what to be bribed for though

06[14:34] * magoo slaps Threei around a bit with a large trout

[14:34] {dptl} :) got it

[14:35] {jfjf64} missed it mags lv that set up

[14:35] {Threei} no new news AIG

[14:37] {jfjf64} ge s .74 trigger

[14:51] {magoo} AIG vad..try and read it

[14:51] {magoo} i scalped 28 to .25

[14:53] {Threei} AIG is not a matter of read mags

[14:53] {Threei} it's a matter of risk

[14:54] {Threei} and it's unsuitable for 99%

[14:54] {magoo} in .34 out .71

[14:54] {magoo} more like FEEL

[14:56] {BillyD} HIG creeps up

[14:58] {Threei} PIMCO's El Erian: Bull market in equities is not likely to last

[14:58] {Threei} too early to call for a vigorous economic recovery

[14:58] {Threei} - Reminder on 7/29 El Erian called the July equities rally a 'sugar high'

[14:58] {Threei} read; "crap, we missed it"

[14:59] {BillyD} lol

[14:59] {_prth} someone must be short the market

[14:59] {Threei} or that

[14:59] {BillyD} your news feed is cheap entertainment for you with occasional vocational use

[14:59] {Threei} calls certain US assets like US stocks are overbought in relation to their fundamentals

[14:59] {Threei} lol Billy

[14:59] {BillyD} what's new with stocks

[15:00] {Threei} *JUNE CONSUMER CREDIT: -$10.3B V -$5.0BE

[15:01] {Threei} whoa

[15:01] {Threei} AIG

[15:01] {magoo} thats why its scary\

[15:01] {magoo} glad im out

[15:01] {Threei} mama

[15:02] {magoo} HOLY SHIT

[15:02] {Threei} gravity does exist after all???

[15:02] {nemo} wtf'

[15:02] {Threei} no, can't be

[15:02] {nemo} anyboy short it

[15:02] {magoo} i got out 28.71

[15:02] {Threei} 14:53] {Threei} AIG is not a matter of read mags

[15:02] {Threei} [14:53] {Threei} it's a matter of risk

[15:02] {Threei} [14:54] {Threei} and it's unsuitable for 99%

[15:02] {magoo} hey..post my response

[15:03] {Threei} WFC baby!

[15:03] {Threei} over 1:2

[15:03] {Threei} I am out

[15:03] {magoo} [14:54] {magoo} in .34 out .71

[15:03] {magoo} [14:54] {magoo} more like FEEL

[15:03] {Threei} AIG Names certain director changes (26.93, +4.40, 19.53%)

[15:04] {Threei} you'd think they designated Fidel Castor in directors

[15:04] {Threei} Castro too

[15:04] {magoo} and chuckie manson vad

[15:04] {Threei} lol

[15:04] {Threei} - William J. Glasgow has been named Chief Restructuring Officer of AIG Global Real Estate, the international real estate investment organization.

[15:04] {Threei} - In conjunction with the overall restructuring of AIG, AIG Global Real Estate has previously announced its intention to divest certain holdings in its real estate business. Mr. Glasgow will oversee the execution of the real estate restructuring program

[15:04] {Threei} - Robert G. Gifford has been named President and Chief Executive Officer of AIG Global Real Estate, the international real estate investment organization.

[15:07] {Threei} anyone did partial on WFC short?

[15:09] {BillyD} no, but reshorted at .79 and coveredfor scalp

[15:09] {Threei} :)

[15:21] {magoo} GS crushed

[15:30] {magoo} GS no bounce yet

[15:35] {ese} well it's been a day.........couple of good trades but still waitin on DRYS......yall have a good weekend now ya hear....

[15:35] {ese} see you monday

[15:35] {BillyD} cya ese

[15:35] {ese} later BD

[15:37] {Threei} take care ese

[15:52] {magoo} ok..out TY vad everone..my best week of year

[15:53] {larisa} bye :)

[15:53] {nemo} wait till Dino gets back...hehehehe

[15:53] {Threei} ciongratulations mags

[15:53] {magoo} :)

[15:53] {magoo} hope dino isnt a jinx

[15:54] {magoo} hes back monday

[15:54] {nemo} well, he won't be able to trade until he gets a new computer

[15:54] {BillyD} send him on a cheap camping vacation then

[15:54] {magoo} they brought it in today

[15:54] {BillyD} lol

[15:54] {BillyD} same exact one magoo

[15:55] {nemo} gnite

[15:56] {BillyD} have a good wknd everyone...cya

[15:57] {Threei} thank yiou all

[15:57] {Threei} have a great relaxing weekend

[15:57] {Threei} see you on Monday

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