Aug 13 2009

Blah day again, even so we got the main direction right. 2 wins, 3 stops, then flurry of action came in LVS and MGM but was mostly for momentum traders, with no chance to call technically sound entries and exits.

Session Time: Thu Aug 13 00:00:00 2009

[08:36] {nemo} hi lari

[08:37] {larisa} gm :)

[08:42] {Threei} *INITIAL JOBLESS CLAIMS: 558K V 545KE; CONTINUING CLAIMS: 6.202M V 6.300ME

[08:42] {Threei} - Prior jobless claims revised from 550K to 554K

[08:42] {Threei} - Prior Continuing Claims revised from 6.310M to 6.343M

[08:44] {nemo} is it you, or the good twin?

[08:45] {Threei} hmmm

[08:45] {Threei} this is the question I ask my self every morning looking in the morning

[08:45] {Threei} self says, that's for you to decide

[09:00] {KSystems} good morning

[09:00] {nemo} Wie geht's heute?

[09:00] {KSystems} entspannt, so kurz nach dem urlaub

[09:00] {Threei} KS :)

[09:00] {fernp} good morning everybody

[09:00] {nemo} Wunderschoen

[09:00] {Threei} fern :)

[09:01] {nemo} Haben sie Reise gemacht/

[09:01] {nemo} ?

[09:01] {KSystems} jawohl :)

[09:01] {nemo} wohin

[09:01] {KSystems} samos

[09:02] {nemo} toll

[09:02] {KSystems} auf jeden fall!

[09:02] {nemo} Sie sind doch wieder in asylum zuruck

[09:02] {KSystems} lol

[09:03] {KSystems} im irrenhaus?

[09:03] {KSystems} ja, das kann man so sagen

[09:04] {nemo} Ja, und heute der Boesezwilling Vad ist der Leiter

[09:04] {wulff} leiblings

[09:04] {nemo} oh oh, schwuele wulff?

[09:05] {wulff} das verstehst ich nicht

[09:05] {Threei} who is for kicking these folks out?

[09:06] {cosmo} :)

[09:06] {Threei} oh, and nemo... now we know, it's me

[09:06] {Threei} not a good twin

[09:06] {fernp} lol

[09:07] {nemo} yeah, that's what I told K here: [09:04] {nemo} Ja, und heute der Boesezwilling Vad ist der Leiter

[09:07] {nemo} Wulff, wohnen Sie im Deutschland?

[09:08] {Threei} ok... this is becoming impolite

[09:08] {Threei} english please

[09:08] {nemo} Wullf, do you live in Germany?

[09:08] {nemo} better?

[09:08] {wulff} nein, im universitet hatt studiert

[09:09] {nemo} he said, no, he studied German at University.

[09:09] {wulff} aber nun spreche ich swedisch

[09:09] {cosmo} thx nemo

[09:09] {nemo} which is different from lernen, huh wulffy

[09:09] {wulff} yes true

[09:09] {nemo} wulff also speaks swedish

[09:10] {nemo} that's what's interesting about German, makes a great base for, Dutch Danish, and the norse languages

[09:11] {Threei} HGSI Hearing Leerink Swann making positive comments (timing uncertain)

[09:11] {Threei} - Note: Price Target raised to $30 from $16 at Leerink Swann on 8/11; Reiterates Outperform rating (16.21, 0.00, 0.00%)

[09:11] {wulff} actually confused the hell out of me, syntax wise

[09:12] {cosmo} GSIC

[09:12] {nemo} it was the same for english when you got into the mechanics. Ever try reading The Frankfurter Allgemeine Zeitung-that still hurts

[09:14] {nemo} I'm doing some poetry translations now. Ow...try getting poetic license in one language to sing in another. Oy weh!

[09:14] {Threei} poor jf

[09:14] {KSystems} nemo tell me anyone who isnt hurt by the FAZ

[09:15] {Threei} he suffered enough of my photos, now nemo'as poetry is waiting for him

[09:15] {dino} gm all

[09:15] {Threei} CIT Enters agreement with Fed (1.28, 0.00, 0.00%)

[09:15] {Threei} dino :)

[09:15] {nemo} When I worked at Henkel the German's hated reading it before coffee

[09:16] {nemo} no, I'm not translating to put on a website

[09:16] {Threei} adopts tax benefits preservation plan

[09:19] {dptl} good morning all

[09:19] {dptl} .

[09:19] {Threei} dp :)

[09:20] {Threei} watching HGSI and BAC

[09:20] {nemo} look at Rimm

[09:21] {Threei} what for?

[09:21] {nemo} chart formation?

[09:21] {Threei} RIMM volatility is not a good idea at the open

[09:29] {magoo} morn

[09:29] {Threei} magoo

[09:30] {nemo} what was that about RIMM volatility...duck!

[09:31] {Threei} watching BAC for entry pn pullback

[09:31] {Threei} desirably .55 - .60 area

[09:32] {Threei} Long Setup: HGSI .75 break half lot

[09:32] {nemo} stuck quote on bid @ .67

[09:32] {Threei} if stays above .60

[09:32] {Threei} Long Setup: BAC .70 break

[09:33] {Threei} if stays above .60

[09:35] {Threei} BAC elects pullback enty it seems

[09:36] {Threei} first strength from here

[09:36] {Threei} stop under .55 for scalpers, under .50 for day traders

[09:37] {Threei} market more weakness

[09:38] {Threei} no go BAC

[09:45] {Threei} Long Setup: RIMM .20 break half lot

[09:46] {patel} 72.05 stop

[09:47] {Threei} I'd prefer under 72

[09:47] {Threei} no worky

[09:47] {fernp} sigh

[09:48] {nemo} closing the gap

[09:50] {dino} sm s esi .49

[09:54] {nemo} Hey Vad, I thought the market was supposed to rocket into the stratosphere this morning :)

[09:57] {Threei} what made you think so?

[09:58] {nemo} kind of a joke: You always say market does opposite. Well, the world markets rocketed, futures were way up, and a little blip about unemployment claims BAM!!!

[09:59] {Threei} F Reportedly plans to increase Q3 production by 10K units (26.42, +0.20, 0.76%)

[09:59] {magoo} cant believe how bad RIMM trades anymore..hsater it piece of crap

[10:00] {Threei} *JUNE BUSINESS INVENTORIES: -1.1% V -0.9%E

[10:00] {Threei} - prior revised from -1.0% to -1.2%

[10:02] {Threei} Long Setup: WFC .40 break if stays above .30

[10:02] {Threei} aww

[10:02] {Threei} late

[10:02] {Threei} don't chase

[10:03] {Threei} see if pulls back under .40

[10:03] {dino} esi bstop to .52 stuck

[10:03] {Threei} grrr

[10:04] {dino} cov .37, +.12

[10:05] {magoo} u reading CAT vad

[10:05] {Threei} hesitated on 47 break

[10:06] {Threei} oh well

[10:10] {Threei} Long Setup: MXIM .75 break

[10:11] {dino} bobe sm l .90

[10:11] {patel} .58 or .67 for stops

[10:11] {Threei} under .65

[10:12] {Threei} CAAS...

[10:12] {Threei} momo stock

[10:12] {Threei} no technicals to it

[10:13] {Threei} if takes big offers at 8.80, has a good chance to break 10 and run

[10:13] {Threei} risky as hell

[10:13] {Threei} Yesterday 05:45 CAAS Reports Q2 $0.24 v $0.12e, R $62.5M v $48.8Me (2 est)

[10:13] {Threei} - Guides FY09 Rev +20% y/y (implying $195.8M v $186.6Me

[10:14] {Threei} 9.80 that was of course

[10:14] {Threei} GM CEO: August sales appear 'robust'; some signs starting to flash green - CNBC (17.89, +0.04, 0.22%)

[10:15] {nemo} offers piling up at .80

[10:15] {dino} cisg

[10:20] {dino} cisg sm s .75

[10:22] {magoo} in mxim

[10:22] {Threei} market is preparing for blastoff

[10:22] {Threei} unless my feel is completely off

[10:22] {Threei} which is a possibility of course

[10:22] {fernp} in MXIM

[10:23] {nemo} caas crashed

[10:23] {Threei} Reportedly US bankruptcy filings up 35% for the 12 months ended June 30, 2009

[10:23] {Threei} no it didn't

[10:23] {Threei} this is how it trades

[10:23] {dino} main street dies while markets rock, hmmmm

[10:23] {Threei} [10:13] {Threei} risky as hell

[10:24] {nemo} yep. .17 spread

[10:26] {Threei} MXIM over 1:1

[10:26] {fernp} ty Vad

[10:26] {Threei} half out or scalp

[10:26] {patel} ty

[10:26] {patel} i scalped it

[10:29] {magoo} outy .87 TY

[10:30] {Threei} Market Internals update at 10:30amET

[10:30] {Threei} - NYSE volume 125M shares, about 53% below its three-month average; decliners lead advancers by 1.1:1.

[10:30] {Threei} - NASDAQ volume 515M shares, about 4% below its three-month average; decliners lead advancers by 1.2:1.

[10:30] {Threei} - Note: NYSE has reportedly been having technical issues

[10:36] {magoo} any read AMZN vad?

[10:37] {Threei} looks long to me

[10:37] {Threei} but I am biased

[10:37] {Threei} I can't shake off the feeling of market preparing to roast da bears

[10:37] {magoo} i thought long too if IF mkt helps

[10:38] {magoo} mxim weird trader

[10:38] {magoo} not familiar with this beast

[10:38] {Threei} here comes the blast

[10:39] {magoo} amzn .30 cents

[10:39] {Threei} anyone went for WFC on pullback?

[10:40] {magoo} no but caught amzn

[10:42] {magoo} c'mon mkt another leg up

[10:43] {magoo} see vad..just ask nice

[10:45] {Threei} I hate it... a few shakeouts in the morning kept me from calling too many plays I saw later on

[10:45] {Threei} BC, 8.60 break long

[10:45] {Threei} CAT

[10:46] {Threei} CHKP

[10:46] {dino} cov cisg .15, +.60

[10:47] {dino} rovi

[10:47] {magoo} just call them boss and we keep stops ..if sets up

[10:47] {Threei} at any other moment, CHK 27.80 break would be irresistible

[10:47] {Threei} that's how I usually see it

[10:47] {magoo} have faith in your minyons

[10:48] {Threei} but these cries after 2-3 stops are demoralizing :)

[10:48] {nemo} what cries?

[10:50] {magoo} u know whats demoralizing

[10:50] {Threei} barber quartets?

[10:53] {magoo} fish

06[10:53] * magoo slaps Threei around a bit with a large trout

06[10:53] * nemo slaps magoo around a bit with a large trout

[10:53] {magoo} hey..what i do??

[10:54] {nemo} you're breathing

[11:01] {Threei} ECB reportedly moving towards a standardization of deposit guarantees for Euro Zone

[11:01] {Threei} - Sees 100K deposit coverage as appropriate (related XLF IXG )

[11:04] {dino} sm apol l .00

[11:23] {patience} nope...i'm looking at natural gas plays

[11:24] {dino} cisg waking up again

[11:25] {dino} wow snda down almost $20 in two weeks

[11:51] {dino} acad

[11:51] {Threei} no news that I see

[11:52] {dino} nor i

[11:57] {fernp} RF breaking hod

[12:02] {Threei} Long Setup: HIG .70

[12:03] {Threei} not a scalp for me

[12:03] {Threei} target closer to 20, quite possibly above

[12:07] {dino} darn acad was waiting s at .50

[12:21] {dino} cisg spike-r-oni

[12:27] {patel} what kind of stop u looking at for HIG

[12:27] {patel} below 19.60

[12:29] {Threei} I'd prefer .55, .60 may be a bit too stingy

[12:30] {Threei} but easy to trail as soon as next resistance is broken

[12:30] {Threei} which is .80

[12:32] {magoo} in hig-mont

[12:34] {fernp} in HIG too

[12:34] {patel} in HIG

[12:36] {magoo} need more in..to form lynch mob if fails

[12:37] {dino} ipcm

[12:37] {nemo} jeez mags, putting enough pressure on poor Vad

[12:37] {magoo} he responds well too pressure

[12:38] {nemo} time for the rocket launcher Vad?

[12:38] {Threei} my response to pressure differs depending on time of the year

[12:39] {nemo} yeah, you might get dino collaterally

[12:39] {Threei} in August it's "good bye, see you after Labor day, when the volume and activity return. Until then, if you don't want to put up with sporadic activity, just take vacation"

[12:40] {Threei} I mean come on... aside of last year which was complete anomaly, have you ever seen t=radeable August?

[12:41] {Threei} if we are making 3 profitable days each week, we need to be highlighted in the next Guiness book

[12:41] {nemo} the beer?

[12:45] {dino} apol out .07, +.07, things' stuck

[12:49] {Threei} now that .60 successfully held the test, stop can be trailed

[12:52] {Threei} Preview: Treasury's $15B 30-year bond auction results due out just after 1PM ET

[12:52] {Threei} - $1B increase from the May auction

[12:52] {Threei} - bid-to-cover ratio at the May auction was 2.14

[12:53] {nemo} put tbt and tlt on your screens

[12:54] {Threei} oh btw, on ACAD:

[12:54] {Threei} ACADIA Pharmaceuticals Inc Ticking higher on speculation of positive results in upcoming release of phase 3 parkinsons disease trial

[12:54] {Threei} - on Aug 5, management said it remains on track to report top-line results from this Phase 3 pimavanserin trial during the third quarter. In May, ACAD, completed enrollment for the trial for patients with Parkinsons disease psychosis (PDP).

[12:56] {Threei} hope this auction won't screw up our HIG play

[12:56] {nemo} that's why I mentioned tbt

[12:58] {nemo} tbt dropping

[13:00] {patel} i went on and cut HIG for a +.04

[13:01] {nemo} tbt continues to drop auction must be goo

[13:01] {nemo} d

[13:01] {Threei} TREASURY'S $15B 30-YEAR BOND AUCTION BID-TO-COVER RATIO: 2.54 V 2.14 PRIOR AND 2.10 AVE OVER THE LAST 5 AUCTIONS

[13:01] {Threei} nice

[13:02] {Threei} - indirect bidders take 48.1% of competitive bids

[13:02] {Threei} - bonds draw 4.541%, 16.7% alloted at high

[13:03] {Threei} 1:1 HIG

[13:03] {fernp} i am out TY Vad

[13:03] {Threei} welcome

[13:03] {Threei} half out for me, acting according to a plan

[13:04] {magoo} u ever vary off the plan?

[13:04] {Threei} yes

[13:04] {Threei} but I need reason for it

[13:05] {magoo} like..if we drinking and u plan to get drunk..are we getting drunk?

[13:05] {Threei} and so far everything goes according to scenario

[13:11] {dino} sm s acad .50

[13:23] {dino} acad bstop to b/e

[13:26] {dino} brb

[13:26] {Threei} so, we got 2 out of 3 back, right?

[13:28] {Threei} if you all are asleep, I won't even bother looking for two more {G}

[13:28] {larisa} do not make them count :)

[13:28] {Threei} oh

[13:28] {Threei} I forgot

[13:28] {Threei} we are abakus-challenged

[13:28] {Threei} even though Raven thinks it's abacus

[13:35] {dino} cov acad .35, +.15

[13:35] {Raven} sigh

[13:38] {nemo} You want me to tell you about one I watched but didn't call?

[13:38] {Threei} why?

[13:39] {Threei} I mean, why yes

[13:39] {nemo} give you a chance to abuse me

[13:39] {Threei} as if I needed a reason

[13:39] {Threei} or excuse

[13:39] {nemo} Rimm when it dropped below 72.20

[13:40] {nemo} whacked up against the pivot a coupla times, saw it tested .15 acouple times, market was dropping, said it'll probably drop if it goes below .20

[13:40] {nemo} there, abuse me...

[13:40] {Threei} sure here goes

[13:40] {nemo} should I grab my ankles

06[13:41] * Threei forwards nemo's e-mail address in his reply to 80 latest smap e-mails, adds the text "please e-mail all these great offers to this guy, he will appreciate them greatly"

[13:42] {nemo} now that's beyond the pale...quite uncalled for...ridikulous

[13:43] {Threei} btw, speaking of great offers... fern, any chance you would drop to Tarragona on my behalf?

[13:43] {Threei} there is this big prize I won... but I must come to their office in person

[13:43] {Threei} to cailm it

[13:48] {dino} powi

[13:52] {nemo} I guess you can kick me some more on RIMM

06[13:59] * Threei sends nemo's address to 80 more spammers

[13:59] {fernp} Tarragona is not beatiful. Too many factories. Too much smoke

[14:00] {fernp} Andalucia is diferent. Much better. south of Spain

[14:00] {nemo} redemption: TCK might be a play here if it loses .20 again

[14:05] {Threei} guys, I just talked to dave about this GETCO thing

[14:06] {Threei} he will have some inetersting update fo us within nearest days

[14:06] {nemo} you take tck, it went 1:2

[14:13] {nemo} frickin RIMM

[14:16] {magoo} trades terribleanymore

[14:16] {magoo} i smashed my blackberry so pissed

[14:16] {nemo} no, it's been going down since I didn't call the short

[14:17] {nemo} tck gave .12 on .05 risk though

[14:20] {magoo} HIG bounce lord vader?

[14:20] {Threei} that's what AI am trying to time

[14:21] {nemo} c u 2 morow

[14:21] {Threei} don't wat to be too early, I've had my share of shakeouts for the next couple month

[14:21] {Threei} but inevitable outcome is, missing quite a few plays

[14:21] {Threei} take care nemo

[14:22] {magoo} in defense..its been tricky

[14:25] {Threei} in whose defense?

[14:31] {magoo} sigh

[14:32] {Threei} mags... if you are horrifyingly bored,

[14:32] {Threei} watch CAAS

[14:33] {Threei} .60 break... and if breaks .80, going to jump over 10 most liekly

[14:33] {Threei} if doesn't work, will kill you

[14:33] {Threei} but one thing is for sure: you won't be bored

[14:34] {magoo} odds?

[14:34] {Threei} 50.0076

[14:35] {magoo} himmmmm..not bad odds

[14:37] {Threei} of course... if all your prior encounters with odds theory were to jump from the Empite State building and see if you survive...

[14:39] {Threei} RF Ticks higher after Jim Cramer makes comments

[14:43] {dino} sm s hrs .55

[14:54] {dino} hrs bstop to .45

[14:55] {dino} cov .40, +.15

[14:59] {dino} sm s cisg .75

[15:02] {Threei} LVS Trading halted; news pending

[15:03] {Threei} I was thinking of long on it

[15:03] {Threei} good thing I skipped, lol

[15:03] {Threei} or not

[15:03] {patel} mgm is spiking

[15:04] {Threei} symapthy

[15:04] {Threei} but news is not known yet

[15:05] {Threei} MGM maybe a way to play LVS news when it comes out while LVS itself is still hatled

[15:06] {magoo} mgm already ripping up

[15:07] {Threei} and down

[15:07] {Threei} pure speculation at this point

[15:13] {dino} hrs sm l .25

[15:13] {magoo} BAC stronggggg

[15:16] {dino} cisg stopped ouch

[15:16] {Threei} AMGN Reportedly fails to win backing from FDA on preventive use of drug to prevent Osteoporosis

[15:16] {Threei} - Earlier received (5.77, 0.00, 0.00%)

[15:17] {Threei} Earlier received approval for use of Denosumab in treatment of Osteoporosis

[15:18] {patel} Speculation is that the LVS halt is likely due to an announcement that could improve the company's liquidity position -- possibly some sort of capital raising event (potentially an IPO of Maccau assets in Hong Kong Market, convertible bond offering, selling of a minority stake, or financing for stalled projects), or possibly a covenant waiver/amendment... The mentioned events are company specific in nature, but the casino stocks t

[15:18] {Threei} LVS Completes Amendment of Macau Credit Facility Las Vegas Sands Corp. Completes Amendment of Macau Credit Facility

[15:20] {Threei} lol, MGM is lost

[15:25] {dptl} have a good evening all

[15:25] {Threei} LVS opened

[15:27] {Threei} take care dp

[15:27] {Threei} now MGM found what to follow

[15:29] {Threei} wow

[15:30] {Threei} Amendment provides the company with important advantages, including the ability to sell a minority stakes

[15:30] {Threei} Market Internals update at 3:30pmET

[15:30] {Threei} - NYSE volume 475M shares, about 45% below its three-month average; advancers lead decliners by 1.4:1.

[15:30] {Threei} - NASDAQ volume 1.75B shares, about 3% below its three-month average; advancers lead decliners by 1.1:1.

[15:30] {Threei} - VIX index -1.3% to just over 25.00

[15:30] {Threei} - Note: NYSE has reportedly been having technical issues

[15:32] {dino} cisg monster rinse

[15:33] {dino} all day 3i

[15:34] {Threei} yeah

[15:34] {dino} yeah

[15:35] {jfjf64} good afternoon all

[15:35] {dino} :)

[15:35] {Threei} hey jf

[15:35] {jfjf64} how was day

[15:35] {Threei} blah

[15:35] {Threei} LVS bounce candidate

[15:36] {jfjf64} need somethin

[15:36] {jfjf64} .60 l

[15:37] {Threei} wow

[15:37] {Threei} mentioned it under .50

[15:37] {Threei} why chase so much?

[15:38] {jfjf64} out .66

[15:38] {Threei} oh I see...

[15:38] {Threei} you have an itch to scratch {G}

[15:38] {jfjf64} yup

[15:38] {Threei} AMGN FDA panel rejects drug for treament of bone loss in breast cancer

[15:38] {jfjf64} wife had me shoppin all day for trip

[15:39] {jfjf64} wow

[15:39] {Threei} IMO... both LVS and MGM are not done

[15:39] {Threei} but trade so gectically, it's pure momo

[15:39] {Threei} no technicals

[15:40] {jfjf64} what gectacally

[15:40] {Threei} hectically too

[15:40] {jfjf64} .80 l lvs

[15:41] {Threei} oh boy

[15:41] {larisa} lol

[15:41] {Threei} you chaser you

[15:41] {jfjf64} out .85

[15:42] {jfjf64} chicken little

[15:42] {jfjf64} look at this

[15:43] {jfjf64} did this stop tradin today

[15:43] {Threei} yes, was hatled earlier

[15:44] {jfjf64} s mgm .73

[15:44] {Threei} huh?

[15:44] {Threei} LVS goes above 14

[15:45] {Threei} MGM goes above .80

[15:46] {jfjf64} .82 was nice trigger mgm

[15:46] {Threei} here comes LVS

[15:46] {jfjf64} look at wynn

[15:46] {patel} what type of stop u looking at for LVS

[15:46] {Threei} where are you in?

[15:47] {patel} notr yet

[15:47] {Threei} oh

[15:47] {Threei} no no

[15:47] {patel} was lokoing over break of 14

[15:47] {Threei} 14 is not entry

[15:47] {Threei} no way

[15:47] {patel} ok

[15:47] {patel} lol

[15:47] {jfjf64} boy vegas is lookin good these days

[15:47] {jfjf64} easy patel

[15:47] {patel} jf, lets go hit the roulette tables

[15:48] {jfjf64} love too

[15:49] {jfjf64} vad we sd hv a little get together there for all ya reality family

[15:49] {Threei} I guess we need to find time and go over how you play this kmind of movements

[15:49] {Threei} actually, gotta do it anyway since we are likely to see more of those in the fall

[15:49] {Threei} in Vegas?

[15:49] {Threei} how about bahamas?

[15:49] {jfjf64} .73 s mgm

[15:50] {Threei} Freeport, january

[15:50] {jfjf64} luv set up

[15:50] {jfjf64} in

[15:51] {Threei} if .55 gets taken on CAAS, I am taking it overnight

[15:51] {jfjf64} sell

[15:53] {patel} at .54 right now

[15:55] {jfjf64} oh boy 5 min

[15:57] {jfjf64} out .77

[15:58] {jfjf64} 3 cent lose

[15:58] {dino} out hrs -.10, out bobe -.02

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

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

[15:59] {jfjf64} gn all

[15:59] {fernp} bye. good evening all

[16:00] {magoo} ok..ty all

Aug 12 2009

We got the general direction of the market right but actual utilization of the read was tough - shakeouts prevailed on many stocks. Overall, I'd call it a draw.

Session Time: Wed Aug 12 00:00:00 2009

[08:30] {Threei} US) JUNE TRADE BALANCE: -$27B V -$28.7BE

[08:31] {BillyD} GM Vad

[08:32] {Threei} Billy :)

[08:34] {Threei} see JAZZ?

[08:34] {BillyD} yes

[08:35] {Threei} CYTR Drug Candidate INNO-206 Produces Statistically Significant Tumor Shrinkage in Animal Model of Small Cell Lung Cancer

[08:36] {Threei} CRY Receives FDA 510(k) Clearance for SynerGraft(R) Processed Human Cardiac Patch Material - Update (5.18, 0.00, 0.00%)

[08:50] {ese} morning vad ....will be with you all for a couple of hours at least.......

[08:51] {patience} take me with you ese...... :)

[08:51] {Threei} hi ese

[08:51] {ese} pack your bags......come on over

[08:51] {patience} :)

[08:52] {Threei} in case we get submerged into action later, have a safe trip and as much fun as you can squeeze

[08:52] {ese} needed to get my fix of you all before i left

[08:52] {Threei} into whatever time you have

[08:52] {ese} will do

[08:52] {patience} whole family going?

[08:53] {ese} no just me.....Vi High R&B band trip

[08:53] {cosmo} is that legal?

[08:53] {Threei} who finances those, if not a secret?

[08:53] {ese} when i get back they are picking me up at the airport in vancouver and we are all going up to Whistler for 5 days

[08:54] {patience} life is good :)

[08:54] {ese} We fund raised the whole to do it vad.....mostly shows

[08:54] {Threei} got it

[08:54] {cosmo} bigfoot country?

[08:54] {Threei} self-reliance

[08:54] {Threei} best thing

[08:55] {ese} I think thats more in the middle of the province cos

[08:55] {BillyD} He covers alot of terrotory ese

[08:55] {BillyD} territory

[08:56] {ese} Kootneys/Shushwap lake area......am not sure

[08:56] {magoo} morn

[08:56] {Threei} magoo

[08:56] {ese} MMMMMMAAAAAAGGGGGGSSSSSSSS!!!!!!!!!!

[08:56] {BillyD} magoo

[08:59] {fernp} good morning everybody

[09:00] {BillyD} fern

[09:00] {Threei} fern :)

[09:07] {magoo} u watching jazz..cree vad?

[09:07] {Threei} JAZZ yes

[09:08] {ese} jaso.....getting beat up,,,nothing serious.....misssed by .01

[09:08] {magoo} got near 8 afterhrs

[09:09] {dptl} good morning

[09:09] {Threei} dp :)

[09:19] {dino} gm

[09:19] {cosmo} JAZZ pre mkt high = 7.95 ...so far

[09:19] {Threei} dino :)

[09:20] {dino} es, have fun on vacation

[09:22] {ese} tks dino

[09:22] {larisa} not too much though, be safe :)

[09:23] {cosmo} keep a camera close by ...just in case

[09:25] {nemo} mornin

[09:25] {Threei} nemo :)

[09:26] {nemo} guess ej beat their numbers

[09:26] {magoo} TOL too vad..a watcher

[09:27] {patel} morning all

[09:27] {fernp} patel

[09:27] {Threei} patel :)

[09:28] {cosmo} ADCT

[09:28] {cosmo} tests high

[09:28] {dino} casket maker hi, quarterly profit down on mild pneumonia/influenza season

[09:28] {Threei} 06:02 ADCT Guides Q3 EPS $0.11-0.16 v $0.06e, Rev around $280M v $280. Me

[09:29] {Threei} 2:15pm FOMC Rate Decision

[09:30] {Threei} Long Setup: JAZZ .80 half lot

[09:30] {Threei} if stays above .60

[09:31] {dino} tol, bobe

[09:32] {Threei} fast trader JAZZ

[09:32] {dino} rtp

[09:33] {jfjf64} mornin all

[09:33] {Threei} jf :)

[09:34] {jfjf64} cat off 46.00 break

[09:34] {jfjf64} bad print .06

[09:35] {jfjf64} all out

[09:35] {jfjf64} omg

[09:36] {jfjf64} took 19 cents and pissed

[09:36] {cosmo} CREE : 34.60 pre mkt high

[09:37] {cosmo} fwiw

[09:38] {dino} tol sm s .10

[09:39] {Threei} Long Setup: JAZZ .55 if holding .40

[09:40] {Threei} Long Setup: CREE .50 if holding .35, half lot

[09:41] {magoo} in

[09:41] {jfjf64} .52 in

[09:42] {jfjf64} out ty

[09:42] {Threei} 1:1

[09:42] {BillyD} ty

[09:43] {patel} thanks 3i. nice trade

[09:43] {nemo} wow

[09:43] {magoo} jesus..missed exit

[09:43] {jfjf64} afl .65 break half

[09:45] {jfjf64} in .67

[09:46] {jfjf64} out afl 1/1

[09:47] {Threei} Long Setup: BC 9.55 break

[09:48] {jfjf64} half lot vad??

[09:48] {Threei} stop would be under .45 or .40

[09:49] {Threei} it's not overly thin

[09:49] {Threei} not horribly thick either

[09:49] {nemo} it's up 400% this month too

[09:49] {nemo} or in a month

[09:50] {BillyD} look at CROX chart

[09:50] {Threei} JAZZ, watching for double bottom

[09:50] {BillyD} want pullback myself

[09:50] {fernp} Vad, FITB if breaks 10.00?

[09:50] {Threei} .40 break aggressive entry JAZZ

[09:51] {jfjf64} lk it

[09:51] {Threei} I guess fern

[09:52] {jfjf64} jazz holdin ?

[09:52] {Threei} Long Setup: CAT 47 if holding above .90

[09:53] {ese} drys

[09:53] {Threei} no worky CAT

[09:53] {Threei} wow... nasty shakeout

[09:53] {patel} dang that was fast

[09:53] {jfjf64} in jazz

[09:55] {dino} cov tol .70, +.40

[09:56] {jfjf64} stop jazz

[09:59] {jfjf64} aig

[09:59] {jfjf64} any read vad

[09:59] {jfjf64} cat 47.00 break

[09:59] {Threei} looks up

[10:00] {Threei} .40 break maybe worth a try

[10:01] {Threei} CAT, that was rude

[10:01] {jfjf64} really super pissed

[10:01] {jfjf64} super pissed

[10:02] {jfjf64} grrrrrrrrrrrrrrrrrrr

[10:02] {dino} bobe sm l .35

[10:03] {jfjf64} ya going aig vadd looks nice

[10:03] {Threei} with stop under .25

[10:03] {jfjf64} finger on trigger

[10:05] {nemo} what's the trigger

[10:05] {jfjf64} in .43

[10:06] {jfjf64} lotta shares .45

[10:07] {BillyD} HGSI promising

[10:07] {jfjf64} any body else in aig

[10:07] {BillyD} not here

[10:08] {Threei} not anymorew jf

[10:08] {nemo} not anymore

[10:08] {jfjf64} lol lol

[10:08] {Threei} yes Billy but breaks don't really indulge us so far

[10:08] {jfjf64} shakeout?????????????????????

[10:08] {BillyD} agree vad, especially on this one

[10:08] {nemo} typical fomc day...sprint out of the gate slow fade to announcement

[10:09] {nemo} shakeout or WIPEOUT jf?

[10:09] {BillyD} we can short JAZZ

[10:09] {jfjf64} cat all day vad

[10:09] {jfjf64} .22 break here

[10:09] {Threei} yes but with shakeouts as soon as we enter {G}

[10:10] {nemo} cat looking short

[10:10] {Threei} WTO rules against China over music and movie piracy (related WMG TWX )

[10:10] {nemo} BFD...piracy is a way of life there

[10:10] {Threei} HGSI wakes up

[10:11] {jfjf64} invalid cat

[10:11] {dino} out bobe .69, +.34

[10:12] {nemo} laser fritzed on me again

[10:13] {jfjf64} aig vad bounce??

[10:13] {Threei} ?

[10:13] {Threei} don't know jf

[10:14] {dino} tol spike

[10:14] {Threei} laser is fine here nemo

[10:15] {jfjf64} looks good dino

[10:16] {Threei} guess who is on TV

[10:16] {jfjf64} axp 32.00 break

[10:17] {jfjf64} no likey axp

[10:18] {Threei} Goldman Sachs chief of global research Jim O'Neill: looking for the Fed to acknowledge economic gains in today's statement

[10:18] {Threei} - hopes the Fed will hold off on talking about specific exit strategies.

[10:18] {Threei} why?

[10:18] {Threei} I for one am interested to hear about their exit strategy

[10:19] {Threei} with secret hope they announce total exit... "we are headed for the door, no more Fed"

[10:19] {dino} i prefer silence

[10:19] {magoo} .

[10:19] {nemo} ?

[10:21] {Threei} market break is coming it feels

[10:21] {magoo} breakdown?or up?

[10:21] {Threei} up

[10:21] {magoo} read on cree?

[10:22] {cosmo} cree ...gee

[10:22] {Threei} none

[10:22] {magoo} make one up:)

[10:22] {Threei} sure

[10:22] {Threei} C

[10:22] {Threei} then R

[10:22] {Threei} then E

[10:22] {Threei} then, let me think...

[10:22] {magoo} read RIMM?

[10:23] {Threei} .20 break long

[10:24] {dino} panl l .91

[10:24] {jfjf64} aig .15 break here all in

[10:25] {Threei} you got RIMM mags?

[10:27] {jfjf64} cant break .15 aig

[10:28] {magoo} missed. went for coffeee

[10:28] {Threei} why do I bother answering

[10:29] {Threei} there were like 5 seconds between your question and my answer, and you managed to leave?? {G}

[10:29] {magoo} sorry..i thought u were going to throw out another sarcastic responsee

[10:29] {nemo} Vad's not like that

[10:29] {Threei} huh?

[10:29] {Threei} I am totally like that

[10:29] {Threei} what, you never met me?

[10:29] {magoo} THATS MY POINT

[10:29] {nemo} ME TOO...positive confirms the negative

[10:30] {nemo} Throw something nice out their and it repels you like the same poles of a magnet

[10:30] {Threei} DOE CRUDE: +2.5M V +1ME; GASOLINE: -827K V -1.2ME; DISTILLATE:+786K V +1

[10:32] {Threei} CAT pullback

[10:33] {Threei} either dive to .10 for entry

[10:33] {Threei} or .20 break if holding .15

[10:34] {jfjf64} in

[10:35] {fernp} me too

[10:35] {Threei} sigh

[10:36] {nemo} s1 is .04

[10:36] {jfjf64} grrrrrrrrrrrrrrrrr

[10:36] {Threei} what is it, let's shake all trees day?

[10:36] {nemo} FOMC

[10:37] {Threei} FOMC is non-event

[10:37] {Threei} no one cares

[10:37] {Threei} rates stays the same

[10:37] {BillyD} yeah, and how much can rate make a difference at this point

[10:37] {Threei} language will be the only thing that matters, and even that is negligible

[10:38] {magoo} l cat .13

[10:40] {magoo} no like

[10:41] {magoo} um..like?

[10:42] {jfjf64} 26 look gd aig vad??

[10:42] {Threei} well

[10:43] {Threei} chart wise yes

[10:43] {Threei} considering how they act today, questionable

[10:44] {jfjf64} got to gv shot

[10:45] {jfjf64} aig l 26 break

[10:45] {magoo} better shot is CREE

[10:49] {magoo} out CAT TY vad

[10:53] {Threei} nice move AIG

[10:57] {Threei} teleportastion

[10:58] {ese} Vad....is Techniques of Tape Reading in an ebook version anywhere? Was just thinking i should have it on my iphone.

[10:59] {Threei} does it read pdf?

[10:59] {ese} i think so

[11:01] {Threei} dcc ese

[11:02] {Threei} HGSI worked after all

[11:02] {BillyD} yes, took for scalp

[11:03] {ese} just signing off for a little bit......catch you in a few mintes

[11:06] {dino} tol s .91

[11:06] {Threei} fern, you went for that FITB?

[11:06] {fernp} yes

[11:07] {dino} bobe sm l .35

[11:07] {dino} .34

[11:09] {BillyD} HIG is strong

[11:10] {magoo} news jazz vad..upgrade?

[11:10] {Threei} storng earnings and guidance

[11:12] {fernp} out FITB +.10

[11:14] {BillyD} this mkt trades tick by tick

[11:14] {dino} tol stopped -.11

[11:17] {cosmo} qqqq hod = 40 fyi

[11:17] {cosmo} nice round #

[11:17] {larisa} 50 is better :)

[11:17] {cosmo} soon...

[11:18] {cosmo} summer rally not over

[11:18] {larisa} unless it is my age, then I want 30 :)

[11:20] {cosmo} i'm stuck at 12

[11:20] {larisa} lol

[11:20] {cosmo} :)

[11:26] {cosmo} adct wants more, it seems

[11:31] {cosmo} ... if it can hold .55

[11:35] {cosmo} adct hod = 8.75

[11:42] {nemo} Is the paint dry yet

[11:42] {cosmo} checking

[11:46] {cosmo} paint never drys ....it just gets stiffer...

[11:47] {larisa} took 4 min to check:)

[11:48] {Threei} well, you need to change your clothes to disposable ones, then sit on a painted surface...

[11:48] {Threei} then get up and check

[11:48] {larisa} what's HURN problem? accounting?

[11:48] {cosmo} because i had to be sure :)

[11:52] {Threei} HURN is one-two punch

[11:53] {cosmo} adct gonna test

[11:53] {magoo} look at wfc bac vad..strong

[11:53] {Threei} earnings,

[11:53] {Threei} then delay of filing on Aug 10

[11:53] {Threei} and to complete the circle of troubles, SEC investigation now

[11:54] {larisa} tks

[11:54] {Threei} BCRX Hearing strength being attributed chatter that US Dept of Health and Human Services (HHS) could soon issue positive determination on BCRX's Premavir as an H1N1 flu treatment (9.67, +0.53, 5.80%) (related SWINEX )

[11:55] {jfjf64} hig l .84

[12:04] {Threei} wsatching BCR for possible bounce

[12:06] {larisa} BCRX you mean?

[12:06] {magoo} u mean bcrx?

[12:08] {cosmo} ADC possible double top

[12:08] {Threei} yes...

[12:22] {magoo} still looking for a bounce in it?

[12:27] {Threei} yeah, but I hoped for pullback closer to .50 - .60 area

[12:36] {BillyD} HGSI mind of its own

[12:37] {Threei} and evilish mind it is

[12:37] {BillyD} it's tame today though

[12:37] {Threei} it pretends

[12:37] {BillyD} lol

[12:37] {Threei} anyone see this gal on TV saying

[12:37] {Threei} tax me tax me tax me

[12:38] {Threei} I hear beeee.... fleece me flece me fleece me... beeeeee

[12:46] {cosmo} adct tests and rolls over...into a coma, it seems

[12:49] {jfjf64} im goin to hv sm cocktails this is killin me

[12:49] {Threei} coma is killing you??

[12:49] {Threei} you must have hyperactivity disorder...

[12:50] {jfjf64} ya think see how i trade

[12:50] {cosmo} yea... and i have to walk the dogs before it gets to hot

[12:50] {cosmo} i'm getting that look....

[12:50] {BillyD} they growling

[12:51] {jfjf64} what part of country ya in cosmo

[12:51] {cosmo} whining ....in san diego

[12:51] {jfjf64} comon

[12:51] {nemo} stfu

[12:52] {jfjf64} best weather in world

[12:52] {cosmo} not me... the dogs

[12:52] {larisa} lol

[12:52] {BillyD} lol

[12:53] {jfjf64} bombay martini callin my name see ya guys be careful

[12:54] {Threei} best weather in world?

[12:54] {nemo} yeah

[12:54] {Threei} scorched earth...

[12:54] {jfjf64} i say

[12:54] {nemo} no SD is very temperate

[12:54] {magoo} make magoo 1 jf

[12:54] {jfjf64} ya not thinkin moscow mr vad

[12:54] {Threei} nemo... ever visited in the summer?

[12:55] {nemo} SD...yes

[12:55] {BillyD} Vad, the more inlamd in SD it becomes like desert

[12:55] {Threei} I know

[12:56] {Threei} well... then I'll have to question your definition of "temperate" {G}

[12:56] {nemo} well, my buddy does live near the water

[12:56] {Threei} ahha

[12:57] {Threei} unlike the remaining 99% of SD population :)

[12:57] {Threei} CROX...

[13:00] {ese} am back for a little bit.....

[13:00] {ese} vad tks

[13:00] {ese} got the email

[13:01] {Threei} :)

[13:01] {Threei} TREASURY'S $23B 10-YEAR NOTE AUCTION BID-TO-COVER RATIO: 2.49 V 2.47 IN FEB AND 2.29 OVER THE LAST 5 AUCTIONS

[13:02] {Threei} US) White House Press Sec Gibbs: Executive pay must be based on "value provided

[13:05] {nemo} were those auction results Vad? not much effect if so

[13:06] {Threei} you lost me

[13:07] {Threei} I post auction results... you ask were those auction results?

[13:07] {Threei} I have three version of answer

[13:07] {Threei} yes

[13:07] {Threei} no

[13:07] {nemo} sometimes you post what happened last time before the results, so I was just making sure...OH STUFF IT!

[13:07] {Threei} don't know

[13:07] {Threei} pick any :)

[13:07] {nemo} How about, "perhaps"

[13:08] {Threei} there... you came up with 4th, all on your own

[13:08] {Threei} pick out of 4 now

[13:08] {nemo} having said that, TBT reacted strongly

[13:09] {dino} we were asleep on tbt

[13:10] {Threei} sorry... YOU were asleep on TBT

[13:10] {nemo} yeah, gave plenty of time to hop in

[13:10] {Threei} I for one was alseep on eerything

[13:11] {dino} you get it?

[13:12] {Threei} lol... no

[13:12] {nemo} no, I looked just before I im'd. We gotta' have a plan for these days

[13:30] {ese} am outta here ladies and gentlemen......if i can log in while in Denmark i will.......take care will see you in 2 weeks or so

[13:31] {BillyD} enjoy ese

[13:31] {nemo} don't flush the toilet over Mass

[13:31] {ese} and......good trading!!!

[13:31] {cosmo} back ...barely

[13:31] {ese} will try not to nemo

[13:31] {cosmo} its getting scorched out there

[13:32] {Threei} enjoy your trip ese

[13:32] {fernp} have a nice trip ese

[13:33] {cosmo} stay away from the berry patches

[13:42] {Threei} Preview: FOMC rate decision and statement due out around 2:15pmET

[13:42] {Threei} **the FOMC is expected to hold rates again at 0.25% today, and consensus expectation seems to be that the committee will be reluctant to make serious modifications to its accompanying statement for fear of rocking the boat. The Fed has observed the recent improvements in data such as the pick-up in home sales, and the pace of job losses decreasing, and the optimism exemplified by the rising stock market. This should allow the FOMC to take more of a wait and see stance at this meeting, and the statement will likely repeat its forecasts for "exceptionally low levels of the federal funds rate for an extended period" and "inflation will remain subdued for some time."

[13:43] {Threei} The FOMC's commentary on its asset purchase programs will be a major focus, particularly the $300B Treasury purchase program that it announced in March and is expected to be fully exhausted by mid-September. In his Congressional testimony last month, Bernanke declined to announce the fate of the program only stating that it is a "continuing topic of discussion for the FOMC." The Fed could comment today on whether it will extend or conclude the program in September, but it could also choose to stay silent on the future of the program, relying on the open ended language of the prior statement that the committee "will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outloo

[13:43] {Threei} outlook" and will "make adjustments to its credit and liquidity programs as warranted." The Fed announcing a replenishment of the Treasury purchase program would likely be considered a surprise move (but be reminded BOE surprised markets with a 50B increase in its quantitative easing program last week). The Fed could also move to extend its TALF program as an incremental step today.

[13:49] {Threei} Preview: July Monthly Budget Statement due out at 2pmET

[13:49] {Threei} **consensus expectation: -$180Be v -$102.8B prior

[13:55] {Threei} CROX just won't quit

[13:56] {BillyD} hard to daytrade though with its pullbacks, never know which break gonna be good

[13:57] {BillyD} at least for me

[14:00] {Threei} JULY MONTH BUDGET STATEMENT: -$180.7B V -$180BE

[14:10] {Threei} Market Internals update at 2:00pmET

[14:10] {Threei} - NYSE volume 610M shares, about 7% below its three-month average; advancers lead decliners by 5.2:1.

[14:10] {Threei} - NASDAQ volume 1.27B shares, about 10% below its three-month average; advancers lead decliners by 2.7:1.

[14:10] {Threei} - VIX index -1.75% to just over 25.50

[14:16] {Threei} *FOMC LEAVES RATE UNCHANGED AT 0.25%; LEAVES DEBT PURCHASES UNCHANGED (related TLT SHY SPY GLD USO EUR/USD USD/JPY GBP/USD )

[14:16] {dino} no change

[14:16] {Threei} UNCHANGED; will gradually slow purchases through Octobe\

[14:17] {Threei} Vote was unanimous

[14:17] {Threei} - Reiterates inflaiton will remain low for some time

[14:18] {Threei} TBT, if you are fast is scalpable

[14:18] {Threei} teleportation idea

[14:18] {Threei} no breaks

[14:19] {patience} ty vad, although i still feel dumber than a doornail not knowing what market is doing yet. personally i see red days ahead.

[14:20] {Threei} .07 - .25 scalp

[14:21] {Threei} market is doing its usual thing, IMO

[14:21] {Threei} killing last remaining bears

[14:21] {Threei} topping action, rude and violent,

[14:21] {patience} tsx is dropping

[14:21] {Threei} when bears give up market reverses

[14:22] {Threei} .06 - .20

[14:22] {Threei} getting the rythm of these moves?

[14:23] {BillyD} on TBT?

[14:23] {Threei} yes

[14:23] {larisa} I do not understand this kind of play, spikes both ways , how in the world can you react or predict :)

[14:24] {Threei} pbserve them larisa

[14:24] {Threei} they have pattern

[14:25] {nemo} .

[14:26] {nemo} am I still here

[14:26] {larisa} yes

[14:27] {dino} no

[14:27] {larisa} perhaps :)

[14:27] {Threei} rofl

06[14:28] * Threei high-fives larisa who seem to successfully reach his, Threei's, level of sarcasm

[14:28] {Threei} it's just such perfect follow-up to

[14:28] {Threei} [13:07] {nemo} How about, "perhaps"

[14:29] {nemo} D P W F L

[14:47] {nemo} still in coma

[14:52] {Threei} watching BC for double bottom

[14:52] {Threei} .75 long

[14:52] {nemo} Ground Hog Day

[14:53] {nemo} half or full

[14:53] {Threei} does it look very thin to you?

[14:53] {nemo} no, but you called "half" on it this morning

[14:54] {Threei} that wass volatility of the morning

[14:55] {Threei} scalpers get out here

[14:55] {Threei} daytraders half out

[14:55] {fernp} out in .77 out .86 TY

[14:55] {magoo} vad..u really nailed the bear trap theory..NIVCE

[14:56] {Threei} thank you

[14:56] {Threei} just don't call me Nivce anymore, deal?

[14:56] {magoo} and that was while the mkts were tanking

[14:56] {dino} who is this vad you speak of?

[14:56] {Threei} hehe

[14:57] {Threei} daytraders, feel free to exit BC here in full

[14:57] {Threei} 25 cents out of nowhere, gift to be taken

[14:58] {dino} sounds like livermore

[14:58] {larisa} ok, no ' setup" word that i have on alert..

[14:58] {fernp} nice call Vad

[14:58] {Threei} sorry larisa

[14:58] {jmb} thanks Vad

[14:58] {Threei} jmb :)

[14:58] {nemo} [14:52] {&Threei} watching BC for double bottom

[14:58] {nemo} [14:52] {&Threei} .75 long

[14:58] {nemo} nope

[14:59] {Threei} where is jf... no smile policy has been caanceled, and he is not here

[14:59] {Threei} NY Fed: reduced size and frequency of Treasury purchases to be begin on Aug

[14:59] {larisa} guess will add "long" and "short" to the list:)

[15:02] {Threei} wow

[15:02] {Threei} that's a bit more than I had expected form BC

[15:02] {Threei} double bottom action is usually good, but not THAT good

[15:02] {Threei} total rocket

[15:03] {nemo} rimm fas tck fcx all rocketed too

[15:04] {Threei} guess who is coming on TV

[15:04] {nemo} Hillary?

[15:04] {Threei} you wish

[15:04] {nemo} not really...Palin was cute though

[15:07] {dptl} have a good evening all

[15:08] {Threei} take care dp

[15:14] {dino} out bobe .60, +.26

[15:20] {wulff} Hey all. What did I miss?

[15:20] {nemo} coma

[15:21] {Threei} since I prefer my memory to have a span of a moth, I'll say one great play on BC

[15:21] {Threei} I will conviniently forget all the mixed bag of invalidated, stopped and slightly working ones before

[15:22] {Threei} anyone who wants to remind me, don't even bother - I'll prtened I am deaf

[15:22] {nemo} blind too?

[15:22] {Threei} of course

[15:40] {BillyD} mkt spikes and then jsut stalls

[15:40] {BillyD} just

[15:51] {BillyD} CRY get more news?

[15:52] {Threei} not that I see

[15:52] {BillyD} some spike

[15:52] {jfjf64} cof l .72

[15:55] {jfjf64} lets go

[15:56] {Threei} CRY... what the deuce

[15:56] {BillyD} tempted but not crazy enough to try it

[15:57] {jfjf64} out

[15:57] {jfjf64} + 5 cents

[15:57] {jfjf64} gettin late

[15:57] {Threei} yeah

[15:57] {jfjf64} lk lk gnaa go

[15:58] {jfjf64} 1/1 damn

[16:00] {Threei} okay guys, thank yoku all

[16:00] {Threei} have a nice evening

[16:00] {Threei} see you tomorrow

[16:00] {magoo} ty vad

[16:00] {BillyD} u 2

[16:00] {jfjf64} enjoy all

[16:00] {nemo} gnite

Aug 11 2009

With couple nice shorts in RIMM, longs in AIG, a few scalps and couple stops - just another day in the office.

Session Time: Tue Aug 11 00:00:00 2009

[08:37] {wulff} Anyone awake?

[08:37] {Threei} this is the question I ask myself for the last 5 minutes... all I get in response is resounding no

[08:38] {BillyD} GM all

[08:38] {Threei} Billy :)

[08:38] {BillyD} HGSI

[08:38] {Threei} but then again wulff... my inner voices have been caught on lying to me a few times

[08:38] {BillyD} was on my list from yesterday

[08:38] {wulff} Kids started school yesterday

[08:38] {wulff} so I'm up at 6:30, eastern time every day now

[08:39] {Threei} [13:36] {Threei} havce a look at HGSI daily guys

[08:39] {Threei} [13:37] {Threei} IMO, shapes up as a play in the future

[08:39] {Threei} [13:37] {Threei} goes through toght consolidation under 15 on disappearing volume

[08:39] {BillyD} that is what alerted me

[08:39] {Threei} was I right or what

[08:40] {BillyD} 30 upgrade helps

[08:40] {Threei} 8:22:49 AM

[08:40] {Threei} Human Genome Sciences Inc Price Target raised to $30 from $16 at Leerink Swann

[08:44] {Threei} Short Percent of Float 13.28 %

[08:44] {Threei} Short % Increase / Decrease 29.43 %

[08:44] {Threei} squeeze candidate

[08:49] {Threei} is it free for all time or what

[08:49] {Threei} who ever heard of Tudor Pickering?

[08:49] {Threei} 08:46 AM [BEXP] Shares raised to Accumulate from Hold at a boutique firm (Tudor Pickering)

[08:50] {Threei} look at the gap

[08:50] {Threei} let's try...

06[08:50] * Threei issues upgrade to CIT, target $1,254

[08:51] {Threei} no effect...

06[08:51] * Threei abandons hope to retire in 5 minutes

[08:55] {BillyD} no career as analysts vad

[08:55] {Threei} obviously not

[08:55] {BillyD} you have no following with upgrades

[09:00] {magoo} morn

[09:00] {Threei} magoo :)

[09:01] {BillyD} magoo

[09:01] {BillyD} maggo, have a question for you

[09:01] {BillyD} in Laser, what route strategy do you use

[09:01] {BillyD} magoo

[09:02] {magoo} naz

[09:02] {magoo} and if its having issues{rare} go to arcaf

[09:02] {magoo} arca

[09:02] {BillyD} ok, and in the menu do you have INET strategy checked and to what strategy

[09:02] {magoo} but nasdac first choice

[09:03] {magoo} in trade settings?

[09:04] {magoo} billy?

[09:04] {BillyD} no, in the menu at top of software window where it says route after Quote

[09:04] {Threei} you probably have different versions

[09:04] {cosmo} any 'smart routing' in those settings?

[09:04] {BillyD} maybe

[09:05] {Threei} that's default cosmo

[09:05] {larisa} gm :)

[09:05] {Threei} larisa :)

[09:05] {cosmo} default sounds boring

[09:05] {Threei} but it's smart

[09:05] {cosmo} lars:)

[09:06] {BillyD} it would be nice to know exactly how the routes worked

[09:06] {cosmo} yea... it always seems to work that way.....

[09:06] {larisa} vad, cosmo, Billy :)

[09:06] {BillyD} larisa :)

[09:06] {Threei} you set it in Trade Settings Billy

[09:06] {Threei} this is where you have power over that mysterious "default"

[09:07] {magoo} billy, up there,,if go to route strategy inet, opens window..cxheck strategy STGY

[09:07] {magoo} but stting in lev 2 important

[09:07] {Threei} right click on Level 2

[09:07] {BillyD} ok magoo

[09:08] {Threei} look for section saying Default

[09:08] {magoo} that help??

[09:08] {BillyD} is it a tab Vad

[09:08] {Threei} no, Tab is General

[09:09] {Threei} middle roughly,

[09:09] {Threei} Default Method

[09:09] {Threei} for NASDAQ and Listaed

[09:09] {BillyD} ok

[09:09] {BillyD} should I check this and what does it do

[09:09] {dptl} good morning all

[09:10] {nemo} mornin'

[09:11] {BillyD} Vad? on default

[09:11] {Threei} dp :)

[09:12] {Threei} oh, and while you are there,

[09:12] {magoo} in default, in naz box

[09:12] {magoo} write inet

[09:12] {Threei} make sure all Route Out boxes are checked

[09:12] {fernp} good morning everybody

[09:12] {Threei} fern :)

[09:13] {cosmo} why would you 'not' want to check those boxes?

[09:13] {Threei} no reason

[09:13] {cosmo} hmm

[09:13] {Threei} wel, there is

[09:13] {BillyD} it won't allow me to type in the Naz box magoo

[09:14] {Threei} but it's not for our style of trading

[09:14] {cosmo} oh

[09:14] {Threei} Billy, when you clicked in that box, hit Backspace

[09:14] {Threei} and hold it for a few seconds

[09:14] {Threei} then try to type again

[09:14] {magoo} are u in trade sttings?

[09:15] {ese} hello baaayba......thats my elvis greeting

[09:15] {Threei} ese :)

[09:15] {Threei} sorry... elvis :)

[09:15] {ese} morning vad

[09:15] {BillyD} got it now, do I check the Follow level 2 box?

[09:16] {Threei} not checked here... not sure what it does

[09:16] {magoo} no

[09:16] {Threei} you may want to ask dave about that

[09:16] {BillyD} ok, thx guys

[09:16] {magoo} and on route out section..check all rtes

[09:16] {magoo} in reserve section..leave all UNchecked

[09:16] {BillyD} got it thx vad & Magoo

[09:17] {BillyD} one more ???

[09:17] {BillyD} sometimes in the premkt

[09:17] {Threei} well, reserve... I have them checked... that's up to you

[09:17] {BillyD} the Naz route won't hit bids or offers from EDGX....have you noticed this???

[09:18] {magoo} its slower vad...

[09:18] {magoo} i asked dave

[09:18] {magoo} uncheck them..its for if u trading 200k shjares'

[09:18] {Threei} may be because your EDFX route out was not checked Billy

[09:18] {BillyD} could be, hopefully works now

[09:18] {Threei} EDGX

[09:20] {magoo} thats why

[09:21] {BillyD} could be why I could never get a BATS fill either

[09:21] {nemo} Vad do you default your route out to "Smart"?

[09:22] {patel} Good Morning

[09:23] {Threei} nemo... where?

[09:23] {Threei} patel :)

[09:23] {nemo} on LII

[09:24] {Threei} this is not where default is set

[09:25] {magoo} HGSI vad

[09:25] {nemo} I turn the route on, and as a rule leave it on "Smart"

[09:25] {Threei} yes mags, on watch for possible short squeeze

[09:25] {Threei} [08:40] {Alert} Threei Human Genome Sciences Inc Price Target raised to $30 from $16 at Leerink Swann

[09:25] {Threei} [08:44] {Alert} Threei Short Percent of Float 13.28 %

[09:25] {Threei} [08:44] {Alert} Threei Short % Increase / Decrease 29.43 %

[09:25] {Threei} [08:44] {Alert} Threei squeeze candidate

[09:26] {ese} heres an old fan favorite...NUAN.Reports Q3 $0.26 v $0.25e, R $241M v $250Me

[09:26] {Threei} [08:39] {Alert} Threei [13:36] {Threei} havce a look at HGSI daily guys

[09:26] {Threei} [08:39] {Alert} Threei [13:37] {Threei} IMO, shapes up as a play in the future

[09:26] {Threei} [08:39] {Alert} Threei [13:37] {Threei} goes through toght consolidation under 15 on disappearing volume

[09:26] {Threei} [08:40] {Alert} Threei was I right or what

[09:27] {Threei} NUAN doesn't look too happy

[09:27] {ese} nope

[09:28] {ese} definately right chief

[09:28] {jfjf64} what up traders

[09:29] {wulff} nice drop in HGSI

[09:29] {Threei} 15.72 is previous high

[09:31] {Threei} SEED...

[09:31] {Threei} 7:03:08 AM

[09:31] {Threei} Origen Agritech Ltd. Reports Q3 $0.48 v $0.38 y/y; R $69.9M v $71.5M y/y

[09:31] {Threei} - Reaffirms FY09 revenue forecast (RMB 550M-580M)

[09:31] {Threei} AVNR

[09:31] {Threei} 7:00:18 AM

[09:31] {Threei} Avanir Pharmaceutical Releases positive Phase III results for Zenvia in pseudobulbar affect (PBA)

[09:31] {Threei} - States the investigational drug Zenvia (dextromethorphan/quinidine) met its primary efficacy endpoint in the treatment of pseudobulbar affect (PBA) in the confirmatory Phase III STAR trial. Both Zenvia 30/10 mg and 20/10 mg provided a statistically significant reduction in episode rates over the course of the study when compared to placebo (p{0.0001).

[09:34] {jfjf64} .49 l rimm

[09:36] {Threei} Long Setup: COIN .50 break

[09:36] {jfjf64} half lot 25 cent stop

[09:36] {Threei} if stays above .40

[09:36] {nemo} too fast

[09:36] {dino} rtp still gettng crushed

[09:37] {Threei} hmmm... some execution problem for me

[09:37] {Threei} anyone got it?

[09:37] {nemo} my system is frozen

[09:37] {BillyD} no, it was already passed .50 when pulled up

[09:37] {fernp} not here

[09:37] {Threei} it pulled back

[09:37] {Threei} right into trigger

[09:37] {dino} magoo's down too

[09:38] {jfjf64} invalid rimm

[09:38] {jfjf64} avnr

[09:39] {jfjf64} 4.00

[09:39] {laserdave} anyone who has laser issues

[09:39] {laserdave} we should be coming up shortly

[09:40] {Threei} give us updates dave

[09:40] {laserdave} will do

[09:40] {laserdave} there is a connection issue

[09:40] {laserdave} will post more as soon as i know

[09:40] {BillyD} thx dave

[09:41] {laserdave} np

[09:42] {Threei} Long Setup: HGSI .50 break if holsding above .30

[09:46] {jfjf64} lets go hgsi

[09:46] {wulff} close but no cigar

[09:47] {Threei} no triggy no playa

[09:47] {BillyD} Vad, we are still down right

[09:47] {nemo} no beach?

06[09:47] * Threei points to dave

[09:47] {jfjf64} hmmm no breakouts

[09:48] {jfjf64} put ya pullback hat on vad

[09:48] {cosmo} breakdowns maybe

[09:48] {BillyD} there is just seling pressure jf yesterday and today so far

[09:48] {Threei} Short Setup: RIMM .20

[09:49] {Threei} if stays under .35 - .40

[09:49] {Threei} Long Setup: HGSI .85

[09:49] {Threei} if stays above .65

[09:50] {Threei} HGSI invalidated

[09:50] {jfjf64} fades workin

[09:51] {Threei} fade'em then

[09:51] {Threei} I say fade the suckers till it hurts

[09:51] {jfjf64} hgsi

[09:51] {jfjf64} in

[09:51] {larisa} .64 .84 thans vad on HGSI

[09:52] {Threei} aggressive entry?

[09:52] {jfjf64} 1/1

[09:52] {larisa} you alerted, my system gave signal. team work :)

[09:53] {jfjf64} out

[09:53] {Threei} best way

[09:53] {jfjf64} ty

[09:53] {cosmo} default?

[09:53] {jfjf64} rimm

[09:53] {cosmo} ...sorry

[09:54] {Threei} RIMM gave a fade signal

[09:54] {Threei} do you fade when the fade comes calling?

[09:54] {wulff} was late on RIMM by seconds, arghhh

[09:54] {jfjf64} never

[09:54] {dino} hgsi l .95

[09:54] {nemo} Vad, you mean pulling a Chaeron?

[09:54] {Threei} right

[09:54] {nemo} ahhh

[09:54] {jfjf64} liked .47 break

[09:55] {jfjf64} look at x vad

[09:55] {jfjf64} .57 break

[09:56] {Threei} with stop under .50

[09:56] {ese} RIMM lookin good jf......you still in?

[09:56] {Threei} why not... I'd take this kind of setup on risk alone

[09:56] {jfjf64} never took it

[09:56] {Threei} but it's invalidated

[09:57] {fernp} WFC double bottom

[09:57] {Threei} yes

[09:57] {Threei} .80 break

[09:57] {ese} were you in earlier at .49 or .50

[09:57] {jfjf64} 1/1 x

[09:57] {nemo} I still can't order

[09:58] {jfjf64} done all

06[09:58] * Threei slaps laserdave around a bit with a large question mark

[09:59] {nemo} guess it's a good thing I didn't on wfc

[10:00] {nemo} No, I can't place orders

[10:00] {nemo} rebooted too

[10:00] {jfjf64} hig vad

[10:00] {Threei} JUNE WHOLESALE INVENTORIES: -1.7% V -0.9%E

[10:00] {jfjf64} .25 break

[10:00] {Threei} AUG IBD/TIPP ECONOMIC OPTIMISM: 50.3 V 50.0E

[10:01] {nemo} anybody else still having a problem with Laser?

[10:01] {jfjf64} didnt tk it with market sellin off

[10:02] {dptl} yes nemo

[10:02] {Threei} nemo... just wait for update from dave

[10:02] {BillyD} yes nemo

[10:02] {BillyD} sit back and paper trade

[10:02] {nemo} I wish I still drank

[10:03] {jfjf64} any hig read vad

[10:03] {Threei} long

[10:04] {ese} ya me tooooo hick!

[10:07] {jfjf64} faz 27 break if market keeps sellin

[10:08] {Threei} FMCN Hearing renewed takeover chatter circulating (9.85, +0.14, 1.44%)

[10:08] {Threei} long time no see FMCN

[10:08] {Threei} interesting daily

[10:09] {Threei} Rochdale's Dick Bove recommends taking short term profits in banks (timing uncertain)

[10:09] {Threei} - comments that bank stocks are running on fumes (related XLF )

[10:10] {jfjf64} hgsi

[10:11] {Threei} Long Setup: RIMM .40 break

[10:12] {jfjf64} in

[10:12] {jfjf64} .43

[10:12] {dino} outr hgsi .11 +.16

[10:13] {patel} stop is .25 correct

[10:13] {Threei} or .20, depending on your objectives

[10:14] {Threei} both are valid

[10:14] {patel} okay thanks

[10:14] {Threei} 1:1

[10:14] {Threei} 1:1 for wider stop too

[10:14] {jfjf64} all out ty

[10:16] {nemo} wfc looking long

[10:16] {jfjf64} no smiley face vad

[10:16] {patel} nice call Threei

[10:16] {Threei} ty

[10:16] {Threei} I decided I won't smile today jf

[10:16] {nemo} can't trade, no smile

[10:17] {jfjf64} thats not my fault

[10:17] {Threei} not related to trading

[10:17] {Threei} not related to anything actually

[10:18] {Threei} just trying on no smile policy

[10:18] {jfjf64} tk half day go tk sm pictures relax

[10:18] {Threei} tomorrow it's likely to be no running with scissors policy

[10:18] {Threei} which will be hard on me, I like to do that...

[10:19] {jfjf64} look agm ya lk 11 break

[10:20] {jfjf64} ty

[10:20] {Threei} nah

[10:21] {ese} anyone know the symbol for British Airways is?

[10:21] {ese} it trades on the NYSE doesn't it?

[10:21] {Threei} BAIRY

[10:22] {dino} esi sm s .85

[10:22] {ese} tks

[10:22] {Threei} not on NYSE I believe

[10:23] {jfjf64} faz settin up

[10:23] {jfjf64} in .03

[10:24] {jfjf64} need bounce

[10:24] {jfjf64} ty

[10:25] {jfjf64} 1/1

[10:25] {jfjf64} half out

[10:25] {Threei} good one

[10:25] {jfjf64} stop to .13

[10:26] {jfjf64} stop to .25

[10:26] {jfjf64} 1/4 out

[10:27] {jfjf64} stop to .20 last piwec

[10:27] {Threei} wtg

[10:28] {jfjf64} will hold

[10:28] {jfjf64} .35 stop

[10:29] {jfjf64} .40 stop

[10:30] {Threei} watching RIMM for breakdown play

[10:30] {jfjf64} yeahhhhhhhhhhhhhhhhhhh

[10:30] {Threei} 72 break is obvious one but I'd prefer short on the bounce

[10:30] {Threei} somewhere around .20

[10:30] {jfjf64} done faz

[10:31] {laserdave} hey guys

[10:31] {laserdave} just so u knwo they are working as fast as they can

[10:31] {laserdave} they think they got it figured out

[10:31] {laserdave} and should be up soon

[10:31] {laserdave} thanks for your patience

[10:31] {BillyD} cool

[10:31] {Threei} thank you dave, give us a shout when you know more

[10:32] {Threei} or when you don't

[10:33] {Threei} resistance to place stop is .25 - .50 on RIMM

[10:33] {jfjf64} faz 27 break if market keeps sellin

[10:33] {Threei} exact entry is tough to call

[10:33] {Threei} jf?

[10:33] {ese} pcln still carrying on from yesterday...up another 2.50

[10:34] {jfjf64} tried doin copy and paste from earlierr no can do

[10:34] {Threei} your last statement sounds too contradictionary for a sober trader

[10:34] {BillyD} does FAZ do opposite of overall mkt

[10:34] {Threei} FAZ moves opposite to market

[10:34] {jfjf64} gimme a smly face vad

[10:34] {Threei} but policy?...

[10:35] {Threei} still in effect

[10:35] {dino} pcln crazy es

[10:35] {jfjf64} boy oh boy 40 cent trade

[10:35] {jfjf64} lol

[10:35] {Threei} let's do a compromise entry on RIMM

[10:35] {dino} cov esi .40, +.45

[10:35] {Threei} Short Setup: RIMM .10 break

[10:36] {Threei} if stays under .25

[10:36] {jfjf64} in

[10:36] {dino} rimm wants 70 imo

[10:37] {Threei} 1:1

[10:37] {Threei} and more to come

[10:37] {jfjf64} nice call

[10:37] {patel} nice call

[10:37] {patel} thanks threei

[10:37] {Threei} not smiling

[10:37] {Threei} just nodding manly

[10:37] {patel} BOOYAH from mississippi

[10:38] {jfjf64} aall out

[10:38] {Threei} with this restrained expression of a gunslinger after shootout on Main Street

[10:38] {Threei} before holstering the gun and walking into nearest saloon

[10:38] {ese} L adsk .26

[10:39] {jfjf64} aig

[10:40] {jfjf64} l .70 break

[10:40] {jfjf64} get smily face ready

[10:41] {jfjf64} wher wd ya put stop

[10:41] {jfjf64} .74 in

[10:43] {magoo} ijm still down, anmyone else?

[10:43] {Threei} sigh

[10:43] {BillyD} yes magoo

[10:43] {Threei} you and nemo

[10:43] {magoo} and u vad?

[10:44] {ese} stop to .20....no tollerance for risk today

[10:46] {ese} you guessed it .19 stopped

[10:47] {jfjf64} stop aig

[10:47] {ese} breakouts just have not been working for me the last 3 weeks or so

[10:47] {Threei} RIMM

[10:47] {Threei} reshort it here

[10:47] {Threei} stop above .30

[10:51] {dino} sm rtp l .93

[10:52] {BillyD} Vad, where can I find out what the ETF's foloow....I tried yahoo but really doesn't explain....like FAZ opposite the mkt

[10:52] {nemo} the sponsoring websites. Direxion for theirs

[10:52] {nemo} put in the complete name of the etf

[10:53] {BillyD} ok, was hoping for a quick way to look up symbol

[10:53] {ese} L adsk .14

[10:53] {Threei} there is

[10:53] {dino} bd, careful on the 2x 3x etfs, some brokers are not letting them trae

[10:53] {dino} trade

[10:53] {Threei} I had one, let me try and find one

[10:54] {BillyD} thx dino

[10:55] {dptl} http://seekingalpha.com/page/etf-finder

[10:56] {BillyD} thx dp

[10:56] {dptl} :)

[10:56] {Threei} RIMM 1:1

[11:01] {dino} put rtp .73, +.80

[11:01] {dptl} hmm..what to do? what to do?....

[11:02] {Threei} whatever you do dp, do NOT smile

[11:02] {dino} hmmmmm, tough crowd

[11:02] {Threei} today is no smile day

[11:02] {dptl} ok

06[11:02] * dptl slaps nemo around a bit with a large trout

[11:02] {Threei} that is allowed

[11:02] {Threei} and encouraged

[11:02] {Threei} samiling ias not

[11:02] {Threei} sorry dino

[11:02] {dino} np

[11:03] {nemo} see what good behavior gets you

[11:07] {fernp} BAC, Vad?

[11:09] {Threei} .20 break long

[11:09] {Threei} for double bottom

[11:10] {fernp} thanks

[11:11] {Threei} invalidated

[11:11] {fernp} yes

[11:12] {Threei} NYX 40 stocks have yet to open for trade due to technical issues, including Berkshire Hathaway (28.88, +0.13, 0.45%) (related BRK.A )

[11:12] {Threei} hey, we are not the only ones with tech problem

[11:12] {Threei} and look at this:

[11:12] {Threei} CNBC's Liesman: Fed adjustment in treasury coupon purchase schedule due to 'technical glitch'

[11:12] {Threei} rofl

[11:12] {Threei} I feel better

[11:13] {Threei} anyone still holding RIMM short?

[11:14] {nemo} what a day for Laser to be down

[11:20] {BillyD} Overall, Laser is the best I have ever used

[11:20] {magoo} but billy..its the only one u ever used lol

[11:20] {Threei} lol

06[11:21] * Threei takes first row to view the trout fight

[11:21] {BillyD} lol.....I started with the phone

[11:21] {Threei} no home pigeons??

[11:21] {BillyD} nah

[11:21] {magoo} carrier pigeons were the first system vad was promoting when i started

[11:22] {magoo} problem wass dam birds kept returning to vad not me

[11:22] {Threei} dino for instance started with inscribing his orders on stone tabler, delivered by dinosaurs

[11:22] {Threei} yes mags, but that was an upgrade from those stone tablets

[11:22] {BillyD} he's come a long way

[11:22] {magoo} roflol

[11:22] {cosmo} the phone was ... the only way to get real time....

[11:22] {Threei} and mags,

[11:23] {Threei} consider this:

[11:23] {Threei} at the time we considered two alternatives,

[11:23] {Threei} carrier pigeons and smoke signals

[11:23] {BillyD} smoke signals were real time calls

[11:23] {Threei} pigoens won since they did not require direct line of sight

[11:24] {cosmo} phone trades cost $35 too

[11:24] {Threei} there also were drums

[11:24] {cosmo} at discount

[11:25] {cosmo} bottle in the ocean is more high tech i would say

[11:25] {Threei} that's for overseas guys

[11:26] {cosmo} we all take our turn

[11:26] {Threei} Long Setup: BAC 16 break

[11:26] {Threei} if stays above .90

[11:26] {Threei} for scalpers, .95

[11:29] {fernp} in

[11:29] {BillyD} missed BAC, phone order to slow...hehe

[11:29] {dino} petd partial fill l .79

[11:29] {Threei} NY Fed: Purchased $2.7B in $300B outright coupons purchase; Dealers submitted $11.3B for consideration (bid to cover 4.19)

[11:29] {Threei} - Heaviest purchase was $730M in the 11/15/26 maturity

[11:29] {Threei} - Note: Avg bid to cover for prior four auctions is 3.21

[11:29] {Threei} 1:1 for scalpers

[11:31] {laserdave} we shoudl be up guys

[11:32] {laserdave} try to place a bid below market

[11:32] {Threei} yesss!!

[11:32] {Threei} thank you dave

[11:32] {Threei} up we are

[11:32] {BillyD} ty dave

[11:32] {laserdave} sorry for being down

[11:32] {Threei} no hope... you won't be forgiven

[11:32] {Threei} ever

[11:32] {BillyD} dave we know you are down as well and not wanting it

[11:32] {laserdave} very rare we go down like this

[11:32] {nemo} should I take the pins out of the cupie doll of Dave?

[11:33] {BillyD} lol

[11:33] {BillyD} let him live nemo

[11:33] {laserdave} well i am sure they will be working long after the close to ensure this never happens again

[11:33] {laserdave} ya take the pins out please

[11:33] {laserdave} my back is killing me

[11:33] {nemo} runnin' for office Dave?

[11:33] {Threei} I think it's second time in 4 or 5 years

[11:33] {laserdave} :)

06[11:33] * magoo slaps laserdave around a bit with a large trout

[11:34] {wulff} CAt is holding up well

[11:35] {cosmo} CAT holds up better...

[11:37] {BillyD} WFC short maybe

[11:38] {Threei} not sure here

[11:38] {Threei} snapback time is close

[11:38] {BillyD} looks like trap potential

[11:40] {cosmo} new lods here would not be good imo

[11:41] {Threei} Public support for the health care reform plan proposed by President Obama and congressional Democrats has fallen to a new low as just 42% of U.S. voters now favor the plan. Thats down five points from two weeks ago and down eight points from six weeks ago.

[11:41] {cosmo} ... for longs that is

[11:41] {Threei} no... snapback is coming, IMO

[11:42] {Threei} Long Setup: WFC .10 break if holding above 27

[11:44] {magoo} in

[11:44] {magoo} long aapl .38 too

[11:45] {Threei} Long Setup: RIMM .90 break if holding above .75

[11:45] {wulff} seems could be more than a scalp?

[11:45] {Threei} if works, yes

[11:47] {dino} pg 30, govt panel decides treatment; pg 50 heathcare to all non-us citizens, including illegal aliens; pg 59 govt electronic access to bank accounts; pg 427 govt mandates programs for end of life; 429 advanced programs for end of life decisions

[11:48] {cosmo} ...but they can't take your freedom

[11:49] {BillyD} just your life

[11:50] {cosmo} i'll be back

[11:50] {magoo} not liking either my traders

[11:50] {dino} i suppose they feel the savings comes from killing off the sick

[11:51] {Threei} no worky WFC

[11:51] {fernp} stopped

[11:52] {BillyD} sad but true dino

[11:52] {magoo} out both god dammit..sit all fresakin morn

[11:52] {magoo} than o for 2

[11:52] {fernp} and stopped BAC

[11:53] {cosmo} soylent green for the rest of us BD...

[11:53] {dino} logan's run

[11:54] {cosmo} thx1138

[11:54] {magoo} AIG down hard vad..any bounceset up?

[11:55] {Threei} should be, not yet

[11:58] {Threei} Long Setup: AIG .70 break

[11:59] {Threei} stop under low of this pullback, .50 is invalidation

[12:04] {nemo} aig again vAD

[12:04] {fernp} BAC if breaks 16.00 (again)

[12:05] {dino} sm l apol .70

[12:14] {Threei} 82% of CNN viewers believe healthcare is fundamental right

[12:14] {magoo} i do

[12:21] {Threei} HGSI sharp drop

[12:21] {jfjf64} watchin

[12:23] {dino} hgsi drop

[12:23] {dino} opps

[12:31] {jfjf64} lkd .80 break

[12:32] {wulff} What's the punishment for blowing a stop and getting away it?

[12:32] {BillyD} did you make profit

[12:32] {wulff} yes

[12:32] {BillyD} then you have to give it out to the room

[12:33] {BillyD} hehe

[12:35] {Threei} punishment will be administered by the market itself

[12:36] {Threei} it lures you into thinking that this is acceptable way to trade, by granting you breakeven or profit on a few of such trades

[12:36] {Threei} then one comes that doesn't come back

[12:36] {Threei} and just proceeds against you more and more

[12:36] {Threei} making taking loss impossible

[12:37] {Threei} keeping you frozen in headlight

[12:37] {Threei} wiping out all those gains you made on previous blown stops

[12:37] {Threei} then all profits on valid trades

[12:37] {Threei} and destroying your account and your confidence

[12:37] {Threei} Saw that zillion times

[12:38] {magoo} and your rectum

[12:39] {Threei} if you think frustration from the trades where you take the stop and they come back is big,

[12:39] {Threei} try one that develops by the scenario I described

[12:39] {Threei} and don't fool yourself thinking it won't happen

[12:40] {magoo} HUH?

[12:40] {Threei} or that you will take a loss on that one

[12:40] {jfjf64} no smiley face for wulff

[12:40] {Threei} you won't - not until it exceeds your pain tolerance

[12:40] {Threei} and until tyou go through all the stages of denial

[12:41] {_prth} when it gaps past your stop do you wait for a retrace to the orignal stop or just take it where it is?

[12:41] {Threei} that's not a day trading situation

[12:41] {Threei} we day trade in order to avoid this kind of hits

[12:42] {Threei} if you elect holding overnight, you add anoter risk control tool:

[12:42] {Threei} position sizing

[12:42] {magoo} everytime i wait for "the " bounce to get out..i get slaughtered..it never comes

[12:42] {Threei} it must be scaled down so gap wouldn't detroy youre account

[12:42] {KSystems} boo

[12:42] {Threei} hey KS!

[12:42] {Threei} welcome back

[12:42] {KSystems} :)

[12:42] {KSystems} thanks

[12:43] {Threei} I am dead serious... of all trading sins you can commit, blown stops WILL kill you

[12:43] {Threei} no ifs and buts,. no two ways about it

[12:43] {Threei} I've seen traders making all kinds of errors,

[12:43] {Threei} some survived some of them,

[12:43] {Threei} but no single one survived blown stops

[12:44] {_prth} on nvax last week the stop was 5.29 and it went from 5.31 to 5.24 on a sharp spike down, i got filled at 5.24 on a manual market out entry. Is that the correct way to handle it?

[12:45] {Threei} well, market orders in generaal not a very good way to trade

[12:45] {_prth} do you limit out on stops?

[12:46] {Threei} yes, limit a few cents beyond targeted price

[12:46] {Threei} also,

[12:46] {Threei} sharp spikes tend to lead to quick reversals

[12:46] {wulff} need to earn my smiley face back

[12:47] {Threei} if a stock whizzes past your price, it's often a good pratice to give it a few seconds for bounce

[12:47] {_prth} so after the sharp spike i should have put in a 5.27 sell?

[12:47] {Threei} but have disaaster stop in place, in case it proceeds against you

[12:48] {Threei} I can't answer it like this, it's a kind of hypotetical situation

[12:48] {Threei} maybe 5.27, may be no sell order in at all, and instead wait for bounce to stall

[12:48] {_prth} you were in the trade how did you exit nvax?

[12:48] {Threei} and try to sell top of the bounce whereevr it occurs

[12:49] {Threei} you asume I remember it?? :)

[12:49] {_prth} sign of a good trader, athlete and pro in general. Forget the past. :)

[12:50] {Threei} believe me, aafter 13 years of trading every day and dozens trades every day,

[12:50] {Threei} only very very remarkable ones will stay in your memory :)

[12:50] {Threei} it's a routine

[12:50] {Threei} not like every trade is an event

[12:50] {_prth} in fact how one develop that?

[12:50] {Threei} just a sequence of actions

[12:51] {Threei} this is mindset that comes with experience

[12:51] {_prth} insert: can (between how and one)

[12:51] {Threei} no single answer to that... you read blog entries on trading psychology?

[12:52] {_prth} thank you:D

[12:52] {Threei} http://www.realitytrader.com/blog/2008/02/psychology-101.html

[12:52] {Threei} http://www.realitytrader.com/blog/2008/02/trading-psychology-stage-1.html

[12:53] {Threei} http://www.realitytrader.com/blog/2008/02/trading-psychology-stage-2.html

[12:53] {jfjf64} pls send me blog on coma

[12:53] {Threei} http://www.realitytrader.com/blog/2008/03/trading-psychology-stage-3-clarity.html

[12:53] {Threei} http://www.realitytrader.com/blog/2008/04/trading-psychology-stage-4-through.html

[12:53] {nemo} gotta' send him the page on vodka

[12:54] {ese} no ese is hangin....just busy geting ready to go to Denmark tomorrow

[12:54] {jfjf64} nice ese

[12:54] {ese} not much of a participant today i'm afraid

[12:54] {ese} too many things to do

[12:55] {ese} odd i get back to the computer just at the moment it says i'm away....talk about timing

[12:55] {ese} I should have that kind of timing in the market

[12:56] {ese} tks jf

[12:57] {Threei} 12:46] {wulff} need to earn my smiley face back {---- sorry wulff, it's not personal... I am simp,ly having no smiley day

[12:57] {Threei} half day actually

[12:57] {wulff} No, I deserve none....account value will show it eventually

[12:57] {Threei} at noon my daughter comes for a week long visit, so policy will be cancled at that point

[12:57] {jfjf64} im leavin tuesday italy 3 weeks

[12:58] {Threei} and btw, I'll have to leave an hour early to pick her up in airport

[12:58] {Threei} now, I suggest kicking ese and jf out for 5 minutes

[12:58] {Threei} so we feel better about them leaving for Europe vacations

[12:59] {jfjf64} how bout smiley faces

[12:59] {Threei} nope... sorry

[13:00] {KSystems} europe? where?

[13:00] {jfjf64} you are misrable hv a shot chilled vodka with lemon hmmmmm

[13:01] {Threei} ese to Denamrk, jf to Italy

[13:02] {Threei} TREASURY'S $37B 3-YEAR NOTE AUCTION BID-TO-COVER RATIO: 2.89 V 2.62 PRIOR AND 2.53 AVG OVER THE LAST 10 AUCTIONS

[13:02] {Threei} - indirect bidders take 62.5% of competitive bids

[13:02] {Threei} - notes draw %1.78 with 13.08% allotted at hi...

[13:02] {magoo} magoo to...........purgatory

[13:02] {nemo} market's liking it so far

[13:03] {Threei} AIG

[13:03] {nemo} yep

[13:03] {KSystems} ahh

[13:06] {Threei} guess who is coming on TV

[13:08] {ese} i'm with ya there today also mags......have had 2 adsk trades stopped for .06 losses each....bout had enough for one day

[13:08] {Threei} you skipped best ones

[13:08] {Threei} RIMM shorts worked like charm

[13:08] {Threei} something else did bt my memory doesn't span that far

[13:08] {ese} definately

[13:10] {jfjf64} faz guess no tkers with me lol

[13:10] {jfjf64} +43

[13:10] {Threei} AIG sharp pullback

[13:10] {jfjf64} cents

[13:11] {Threei} who remembers teleportation setups from last fall?

[13:12] {Threei} this is whhat happens on AIG right now

[13:12] {ese} can't remember

[13:12] {Threei} quick move by both bids and offers with few prints,

[13:12] {Threei} pause,

[13:13] {Threei} entry in cantra dikrection,

[13:13] {Threei} wait for quick move in the same manner in opposite direction,

[13:13] {Threei} get out with scalp

[13:13] {Threei} observe it for while

[13:13] {Threei} you will see what I mean

[13:13] {Threei} it's impossibl;e to call in time as aa rule, you need to get a feel for it

[13:14] {BillyD} kind of like playing a range

[13:14] {Threei} yes but instead of normal move, it's a teleportation

[13:14] {Threei} it disppears from one place and surfaces in another

[13:14] {BillyD} best kind if on the right side :)

[13:14] {Threei} see?

[13:15] {BillyD} yes

[13:15] {Threei} about 12 cents dive, pause

[13:15] {Threei} if you got .05 - .06

[13:15] {Threei} you are exiting about here

[13:15] {Threei} .13-.14

[13:15] {Threei} watch it for few, you will get the rythm of it

[13:16] {Threei} we used to play it a lot on UAUA, DRYS, something else

[13:17] {Threei} one thing hasn't changed since election folks

[13:17] {Threei} Prezident is as good speaker as he was as a candidate

[13:18] {jfjf64} you are not serious

[13:18] {Threei} I am... I consider him a great orator

[13:18] {Threei} another matter is, this is about the only credit I extend to him, lol

[13:19] {Threei} election being largely a popularity contest, you don't think it played big role in his victory?

[13:20] {BillyD} he said all the right things

[13:20] {Threei} with right intonations

[13:21] {Threei} rightly measured dose of outrage

[13:21] {dino} tell them what they want to hear

[13:21] {Threei} eqzaktly

[13:21] {dino} zzzzzzzzzzzzzzzzzz

[13:21] {BillyD} I think he is a natural and not that excellent of a manipulator

[13:22] {larisa} thanks Billy :)

[13:22] {BillyD} I didn't say I agreed with him

[13:22] {Threei} AIG quick teleportation down is coming

[13:22] {larisa} dats ok

[13:22] {Threei} watch

[13:22] {BillyD} :)

[13:22] {Threei} should give an entry somewhere under .20

[13:23] {Threei} sorry larisa... when it comes to actual issues, I disagree with him on just about everything

[13:23] {dino} i am tired of his high and mighty scolding of everybody

[13:23] {BillyD} sick magoo on him dino

[13:24] {dino} indeed

[13:24] {Threei} here comes AIG

[13:25] {Threei} and now back up

[13:25] {Threei} any questions? :)

[13:25] {Threei} oops

[13:25] {Threei} taking that smiley back

[13:25] {BillyD} yes, why didn't it hit my .14 bid

[13:25] {jfjf64} ahhhhhhhh

[13:26] {Threei} still might

[13:26] {BillyD} don't want it now

[13:27] {magoo} .34 has rejected AIG twice

[13:27] {Threei} I tend to play these moves a bit narrower Billy

[13:27] {Threei} took .19, exited .26

[13:27] {BillyD} I see

[13:27] {Threei} this is pure quick scalping

[13:27] {Threei} not really directional trading

[13:28] {BillyD} too me I have to get better entry for insurance

[13:28] {Threei} we deal with program trading when these telepotrations occur

[13:28] {Threei} I want to be in and out quick and safely

[13:28] {BillyD} you take a full lot then?

[13:28] {Threei} yes

[13:28] {magoo} i try to catch a rip

[13:29] {jfjf64} im waitin forr the call

[13:29] {magoo} in AIG .98

[13:29] {nemo} what mags?

[13:29] {BillyD} what was your stop Vad?

[13:29] {magoo} in AIG .98

[13:29] {Threei} under .15

[13:30] {Threei} but billy,

[13:30] {Threei} don't look for hard fast rules to this kind of setups,

[13:30] {Threei} it's not rfeally technical,

[13:30] {BillyD} right more feel

[13:30] {Threei} it's "watch and get a feel for the rythm" kind of thing

[13:30] {Threei} I never start playing theese moves right away,

[13:31] {BillyD} just kind of pick a stop area

[13:31] {Threei} when I see them starting I watch a few of them

[13:31] {Threei} to get a feel for magnitude

[13:31] {Threei} and how they tend to act at the end of the range,

[13:31] {Threei} pause and bounce

[13:31] {Threei} or

[13:31] {Threei} double dip kind of move

[13:33] {BillyD} basically, trade what you can read, feel, put a structure to and manage the risk

[13:33] {Threei} there you go

[13:33] {Threei} what else is there?

[13:33] {Threei} findfamentals?

[13:33] {Threei} haha

[13:33] {Threei} economy helath?

[13:33] {BillyD} those are the fundamentals

[13:33] {Threei} three haha

[13:33] {BillyD} lol

[13:34] {Threei} good luck to those who thought "hey, economy is bad, we rally for a month or two, let's short it"

[13:34] {Threei} their pain if they didn't take their stops quickly was beyond bearable for the last two months

[13:35] {jfjf64} .46 l aig

[13:35] {Threei} I don't know jf...

[13:35] {Threei} I'd prefer to catch a pullback to .30 or under

[13:36] {Threei} breakouts are not a very good idea still, IMO

[13:36] {jfjf64} took it boss

[13:37] {Threei} let's hope this one works then

[13:38] {jfjf64} 1/1

[13:38] {Threei} wtg

[13:38] {jfjf64} half out

[13:38] {dino} gj

[13:38] {BillyD} gj jf

[13:40] {magoo} out here AIG

[13:40] {jfjf64} stop at even 2nd piece

[13:40] {magoo} .53 +.55

[13:40] {magoo} 1500 sh

[13:41] {Threei} beautyful mags

[13:41] {jfjf64} way to go mags

[13:41] {magoo} [13:30] {magoo} in AIG .98

[13:41] {jfjf64} stayed with it a while nice

[13:42] {magoo} back in .51

[13:42] {jfjf64} stop to .55

[13:42] {magoo} gonna rip

[13:43] {jfjf64} question why ya get out

[13:43] {Threei} US President Obama reiterates desire to increase speeed of generic drug implementation to the marketplace

[13:43] {magoo} book'em dano...i dont know for sure

[13:44] {jfjf64} 1/4 out .70

[13:44] {jfjf64} stop .65 last 1/4

[13:44] {Threei} if .70 gives up, should explode

[13:45] {jfjf64} wow you read good

[13:45] {Threei} thar she blows

[13:46] {Threei} yes jf... to read makes us speak English good

[13:46] {jfjf64} stop .69

[13:46] {Threei} be back in 10

[13:47] {jfjf64} i get a smiley face yet

[13:47] {jfjf64} out

[13:50] {jfjf64} ya still in mags

[13:51] {jfjf64} cof l 33.01

[13:51] {dino} apol stop to .00

[13:55] {dino} stopped apol .00, +.30

[13:57] {jfjf64} out cof -1 no lk

[14:01] {jfjf64} l aig .66

[14:01] {jfjf64} trigger

[14:02] {jfjf64} in

[14:03] {magoo} in .65

[14:04] {jfjf64} markett pops we get paid

[14:04] {jfjf64} market at critacal point

[14:05] {Threei} at what?

[14:05] {Threei} oh

[14:05] {jfjf64} critacal

[14:05] {jfjf64} thats a tough one

[14:05] {Threei} krutikle

[14:06] {nemo} you mean, like at the base of a fingernail?

[14:06] {jfjf64} here comes pushhhhhhhhhhhhhhhhhhh

[14:06] {Threei} yes nemo, but crucial one

[14:07] {magoo} thats toughie...Krewsholl

[14:07] {Threei} wow

[14:07] {Threei} this is spelling by true trader

[14:08] {dino} hgsi l .68

[14:08] {jfjf64} i cd spell it any way lk

[14:08] {jfjf64} 1/1

[14:08] {jfjf64} half out

[14:09] {jfjf64} look at that

[14:09] {jfjf64} all out

[14:10] {jfjf64} ya still in mags

[14:10] {magoo} yup..want a rip up

[14:11] {jfjf64} .36 l x

[14:13] {magoo} .84 has rejected it tewice now

[14:13] {dino} hgsi stop to .80

[14:13] {jfjf64} invalid

[14:15] {dino} stopped hgsi .80, +.12

[14:15] {jfjf64} nice trade

[14:16] {jfjf64} jpm l .75 break

[14:16] {jfjf64} here we go

[14:16] {magoo} out btw .62

[14:16] {magoo} -.03

[14:17] {jfjf64} grrrrrrrrrrr

[14:17] {magoo} see..lose sometimes trying to get biggie

[14:17] {jfjf64} tk those bennies

[14:18] {magoo} well..its a choice,,i rode it earlier

[14:18] {jfjf64} both pullbk x jpm

[14:18] {jfjf64} 100 percent

[14:20] {jfjf64} jpm vad ya likey

[14:20] {jfjf64} x invalid

[14:21] {jfjf64} jpm stays in consiladation

[14:21] {dino} ty jf

[14:21] {jfjf64} feel lk im wkin

[14:22] {jfjf64} go on pay roll

[14:22] {jfjf64} in

[14:23] {Threei} can't tell JPM

[14:23] {jfjf64} need to hold .75

[14:24] {jfjf64} .75 stop

[14:26] {dino} cpla sm l .00 thinny

[14:27] {jfjf64} usin .75 as support

[14:28] {jfjf64} out

[14:28] {jfjf64} oh we

[14:28] {jfjf64} well

[14:28] {BillyD} we knew what you meant

[14:28] {BillyD} you have trained us well

[14:29] {Threei} no kidn

[14:29] {BillyD} lol

[14:29] {jfjf64} broke hat .75 no part of

[14:29] {Threei} jf schl of tping is unfirgtble

[14:29] {jfjf64} capital pres

[14:30] {jfjf64} - 2 cents

[14:30] {jfjf64} comon vad gimme a smiley face

[14:30] {Threei} AIG AIG Fincl Products Corp. Completes Disposition Of Energy And Infrastructure Investment Portfolio (25.48, -3.22, -11.22%)

[14:30] {BillyD} look at HIG strength

[14:30] {Threei} VICL Reportedly solicits $1.25M contract from US Govt for Vaxfectin H1N1 vaccine treatment studies

[14:30] {Threei} - Note: Co. reports approx $3M in revenues per quarter

[14:30] {Threei} - the purpose of the work to be perform... (3.47, -0.05, -1.42%) more...

[14:31] {Threei} White House proposes definintion of OTC derivatives

[14:31] {Threei} OTC derivatives according to new definition are derived from the counter and handed over it

[14:32] {Threei} Comments that the derivatives must be cleared by the SEC or CFTC

[14:33] {fernp} have to go. see you all tomorrow.

[14:33] {Threei} take care fern

[14:36] {jfjf64} hig

[14:46] {Threei} market went frozen

[14:47] {BillyD} looks like it wants to break down

[14:47] {BillyD} saw RIMM but not want a .20 stop

[14:48] {BillyD} maybe LVS at .40

[14:49] {Threei} HIG is getting bounce-ready

[14:50] {BillyD} can't short LVS

[14:50] {ese} hey hey dino........you ever make any money on that APOL trade

[14:51] {ese} just noticing it made it over 67

[14:54] {magoo} in hig .15 lord vader

[14:59] {dptl} have a good evening all

[15:00] {larisa} bye dp :)

[15:00] {Threei} take care dp

[15:01] {magoo} slackers.grrrrr

[15:02] {Threei} just a scalp mags, I think

[15:03] {Threei} okay guys, I have to leave for airport now

[15:03] {Threei} take HIG profit here mags

[15:03] {BillyD} take care

[15:03] {Threei} you be safe

[15:03] {Threei} see you all tomorrow

[15:03] {larisa} see you :)

[15:03] {patel} take care

[15:03] {patel} bye

[15:03] {magoo} out fl TY vad

[15:05] {jfjf64} cat .45 long break

[15:05] {jfjf64} in .46

[15:09] {jfjf64} got hit

[15:10] {jfjf64} im done good night all

[15:12] {magoo} sh jpm .55

[15:12] {magoo} dime stop

[15:48] {ese} later everyone.......will be with you for a brief bit tomorrow...couple of hours maybe...then flying right over nemos' house

[15:48] {ese} will promise not to flush the toilet at that time nemo

[15:52] {dino} lol

[15:52] {larisa} lol

[15:53] {nemo} funny guy

[16:00] {dino} out cpla .04, =.04 stupid, had .32 and got greedy

[16:01] {nemo} Dino...it's the middle of August fur crissakes

[16:03] {dino} i know, i know

06[16:03] * nemo slaps dino around a bit with a large one in hand versus two in bush

[16:04] {dino} lol