Sep 22 2008

Session Time: Mon Sep 22 00:00:00 2008

[08:07] {Threei} ET BLUE TERMINAL EVACUATED AT JFK AIRPORT - FOX NEWS
[08:23] {magoo} morninmg
[08:23] {Threei} Good morning
[08:27] {Threei} AIG getting buyers
[08:34] {Threei} MS
[08:34] {Threei} JAPAN'S MUFG TO BUY UP TO 20% STAKE; PRICE NOT DETERMINED YET WHILE DUE DILLIGENCE UNDERWAY
[08:34] {Threei} - Mitsu will send at least 1 Board member to sit on Morgan Stanley's Board
[08:39] {Threei} MSFT
[08:39] {Threei} RAISES DIV; AUTH $40B BUYBACK
[08:43] {Threei} (JP) JAPAN FIN MIN: JAPAN WILL NOT BAN SHORT-SELLING
[08:43] {Threei} one sane place remains, I see
[08:47] {magoo} MS moving pretty good
[08:51] {peterg} kondichiwa
[08:52] {peterg} ohio gozymas
[08:52] {Threei} ummm... good morning, I guess
[08:52] {peterg} dont know japanesse for gm?
[08:52] {peterg} you will
[08:52] {Threei} how come it involves ohio? :)
[08:52] {peterg} dk
[08:53] {peterg} sounds like
[08:53] {peterg} lol
[08:54] {Threei} AIG
[08:54] {Threei} TO ISSUE A LIST OF ASSETS THAT MAY BE SOLD IN THE NEXT 7 TO 10 DAYS - CNBC INTERVIEW
[08:55] {Threei} CEO LIDDY DOES NOT THINK AIG WILL NEED TO DRAW ENTIRE $85B FED LOAN - CNBC
[08:55] {Threei} 4.45 Fri high
[08:56] {pita} morning everyone, is the sky secure?
[08:56] {Threei} Atlas is still trying to make up his mind...
[09:01] {magoo} wheres the play on AIG vad?
[09:01] {Threei} pullback is preferrable vs breakout
[09:01] {magoo} support 4?
[09:02] {Threei} as much as premarket charts can be trusted, yeah
[09:02] {fernp} Good morning
[09:02] {Threei} fern :)
[09:03] {Threei} CNBC'S LIESMAN: GOLDMAN UNDERTAKING A CAPITAL RAISE SOON
[09:04] {dino} gm all
[09:05] {Threei} dino :)
[09:08] {Onix} good morning all
[09:09] {Threei} onix :)
[09:13] {tomg} gm all
[09:13] {Threei} tom :)
[09:19] {peterg} Paul Krugman in NYT suggests bailout is "cash for trash."
[09:20] {cosmo} Barrons likes CIEN fwiw
[09:21] {esemde} good morning......
[09:22] {Threei} ese :)
[09:22] {esemde} anything new and exciting...
[09:22] {Threei} brave new world
[09:23] {esemde} how so?
[09:23] {Threei} MS and GS become bank holding companies
[09:24] {esemde} i get ya......they will invest away all US gold reserves
[09:24] {Threei} I'd call it extreme makeover
[09:25] {Threei} they effectivcely obtain right to open deposit accounts
[09:25] {esemde} in an attemp to lower hundred trillion dollar debt or so
[09:25] {esemde} that is scarry!!!
[09:25] {Threei} in doing so they become a subject of much stricter oversight and regulations, but liquidity problem will be solved
[09:26] {peterg} Paulson demands control, and no back talk and never ever be tried as crook
[09:26] {esemde} thats OK ...dino magshawk Raven the whole crew can move up here
[09:26] {Threei} umm...
[09:27] {peterg} After year and a half of everythings ok, now he needs the whole checkbook now
[09:27] {peterg} no oversight
[09:27] {Threei} Paulson insists on status that is practicaly next to god
[09:27] {peterg} that is a problem imho
[09:27] {Threei} AIG broke out after shallow pullback
[09:27] {peterg} infected by bush
[09:28] {cosmo} calamine lotion might help?
[09:28] {peterg} injected!
[09:29] {esemde} ya $25 shallow pullback....
[09:30] {esemde} whats up with CIEN...
[09:31] {Threei} mentioned in Baron's as one of attractive places to [park money
[09:31] {Threei} QTWW
[09:31] {Threei} IGN AGREEMENT WITH LEADING ITALIAN RENEWABLE ENERGY SYSTEM INTEGRATOR
[09:34] {Threei} Long Setup: AIG 4.50 if stays above 4.35
[09:37] {Threei} AIG half out 4.7
[09:37] {Threei} scalpers are scalpers
[09:37] {magoo} full out here
[09:38] {tomg} thanks vad
[09:38] {Threei} welcome tom
[09:38] {Onix} ty Vad, good one!
[09:38] {esemde} gj boys.....just wasn't on it fast enough
[09:38] {peterg} ty!
[09:38] {Threei} 1/4 more out 4.85
[09:39] {Threei} onix :)
[09:39] {Threei} offering last portion 4.95
[09:39] {dino} v sm l .30 stop .97
[09:39] {Threei} stop 4.59
[09:39] {Threei} hit
[09:39] {Threei} out in full
[09:40] {pita} missed, but nice call Vad
[09:40] {Threei} ty
[09:40] {Threei} watching for pullback
[09:40] {Threei} this thing is in play
[09:40] {Threei} US PRESIDENT BUSH: MARKET BAILOUT PLAN SHOULD HAVE RELEVANT PROVISIONS
[09:42] {dino} out v stopped -.33
[09:42] {Threei} don't be in a rush to jump on it, pullbacks are rather harsh
[09:43] {esemde} watching SIMO....
[09:43] {magoo} nice read vad
[09:43] {Threei} I would prefer it somewhere close to 4.50
[09:43] {magoo} might get too .35 area
[09:43] {magoo} premkt area of interest
[09:43] {peterg} how do you think no short selling influences downside?
[09:43] {peterg} or does it
[09:43] {Threei} at the moment, it limits downside, but down the road it will increase it
[09:44] {peterg} thks, makes sense
[09:44] {Threei} wow WM
[09:45] {esemde} you thinkin pull back Vad WM
[09:46] {Threei} don't know ese... such selloff showqs there is a lot of uncertainty about its destiny
[09:47] {magoo} down 100
[09:47] {esemde} message received and noted...
[09:49] {GeoArb} gm
[09:49] {Threei} Geo :)
[09:49] {esemde} .20 up with NVDA though
[09:49] {magoo} Geo:)
[09:49] {Threei} AIG pullback isn't vceru deep
[09:50] {Threei} probably becomes a break candidate if consolidates close enough to 5
[09:50] {Threei} so far .75 is support,
[09:50] {Threei} I'd prefer closer stop obviously
[09:50] {esemde} motley fool was reccomending NVDA in a couple of articles as well on the weekend
[09:51] {Threei} let's see if it's holding above .85
[09:53] {Threei} daily looks rather nicely on NVDA, ese
[09:53] {esemde} I like the look of it too....
[09:54] {dino} wtfc blood
[09:55] {esemde} down 4 dino....right up your alley
[09:55] {dino} last try sm v .75
[09:55] {esemde} bstop CIEN .72 3/4
[09:57] {Threei} AIG decided on pullback
[09:57] {Threei} will lose .50 most likely
[09:58] {Threei} WM
[09:58] {esemde} need indexes to go my way
[09:58] {Threei} TO REPORTEDLY HOLD OFF UNTIL THE FED BAILOUT DETAILS ARE IN EFFECT BEFORE THE DECISION TO SELL COMPANY IS MADE - CNBC
[09:59] {Threei} Short Setup: ESLR 6.04 if stays under 6.10
[10:01] {esemde} long CIEN .70
[10:03] {dino} artc
[10:04] {Onix} in ESLR @ 6.04
[10:06] {esemde} added some more ...full lot CIEN
[10:10] {Threei} quite narrow range
[10:10] {Threei} market is waiting for some shoe to drop
[10:10] {dino} v sm wynn l .50 risky
[10:14] {Threei} AIG new wave of frenzy
[10:15] {Threei} want 5.01 trigger with nice tight consolidation
[10:15] {Threei} stop no farther than .84
[10:16] {Threei} so, ideally, couple more back and forth, not losing .85 anymore
[10:17] {Threei} so far so good
[10:18] {esemde} talk about your slow climber CIEN....
[10:19] {peterg} looking for the weak spot in the Death Star....
[10:19] {esemde} i'll say...
[10:19] {magoo} down 148 here
[10:20] {peterg} if aig doesnt bust 5, ill miss all the fun cz gotta go2 dayjb
[10:20] {esemde} should make it to 12 if it gets past this .80 level
[10:20] {esemde} see ya peter...i'm in the same boat....
[10:20] {peterg} 5 min more
[10:21] {peterg} naah, too edgy. Back later all
[10:21] {Threei} take care peter
[10:21] {peterg} u2
[10:22] {magoo} eating 5 vad
[10:23] {Threei} want to see it eaten
[10:23] {magoo} 5 seems endless
[10:24] {Threei} that's why I don't want aggressive entry on it
[10:24] {Threei} if it doesn't give up, drop will be cruel
[10:26] {Threei} ESLR stop to 6.06
[10:27] {Threei} stopped AIG
[10:28] {Threei} can't believe it ate those huge offers only to dtop immediately
[10:28] {Onix} stopped AIG
[10:31] {dptl} good morning all
[10:31] {Threei} dp :)
[10:35] {dino} wtfc partioal l .53
[10:37] {esemde} out CIEN.....-.04 it's going nowhere
[10:37] {dino} wynnstop to .70
[10:37] {dino} wtfc remainder at .40
[10:38] {dino} out wynn slippped .68, +1.18
[10:39] {magoo} tough crowd dinio:)
[10:39] {dino} yeah, same old, same old
[10:40] {Threei} hehe
[10:43] {Threei} WSJ: SENATE FINANCIAL BAILOUT PACKAGE DRAFT INDICATES THERE WOULD BE LIMITS ON EXECUTIVE COMPENSATION, WITH OVERSIGHT LED BY BOARD ENCOMPASSING THE FED, SEC, AND FDIC
[10:43] {Threei} {XLF}
[10:46] {esemde} nice work dino.......just looked at wynn
[10:48] {dino} :)
[10:55] {dino} look at wtfc, tcbk, cobz all banks, all down huge, but we can't short them
[10:56] {Threei} out ESL
[10:56] {Threei} ESLR
[11:06] {esemde} see you all tomorow.....
[11:06] {Threei} take care ese
[11:06] {Chaeron} bye ese
[11:06] {esemde} see ya vad
[11:06] {fernp} bye ese
[11:06] {esemde} fern
[11:06] {dino} cya es
[11:10] {GeoArb} is daytrading dead
[11:10] {Threei} yup... forever
[11:11] {GeoArb} geo{- will trade tiddlywinks
[11:11] {Threei} what are those?
[11:11] {dino} wtfc stop to .74
[11:11] {GeoArb} http://en.wikipedia.org/wiki/Tiddlywinks
[11:12] {dino} out major slip ave .45 +1.00
[11:12] {dino} that sucked
[11:13] {GeoArb} +1 sucked?
[11:13] {dino} had 1.50 slipped me .30
[11:13] {dino} but , what the heck
[11:14] {Threei} really
[11:16] {GeoArb} I am sorry heheheh but:
[11:16] {GeoArb} http://www.time.com/time/nation/article/0,8599,1843168,00.html?cnn=yes
[11:17] {GeoArb} i wonder if they get paid by the headline
[11:19] {Threei} amazingly slow market after last week turbulence
[11:19] {GeoArb} noone is sure whats going on
[11:19] {Threei} I guess
[11:19] {GeoArb} skf is all wierd
[11:19] {GeoArb} cant open new positions i think
[11:19] {Threei} waiting for rescue plan to shape up
[11:20] {Threei} ASKF is scewed by shorting limitations
[11:20] {GeoArb} yup
[11:20] {GeoArb} no one is sure of the rules anymore
[11:20] {GeoArb} i think i am going to learn how to trade porkbellies
[11:22] {peterg} Barrons also said use bond funds for 5% to park cash
[11:22] {Threei} don't know about pork bellies but stock market is looking at giant rally once this package goes through... IMO
[11:23] {GeoArb} true
[11:23] {Threei} AIG
[11:23] {Threei} TOP HOLDER MEETING REPORTEDLY TO MEET LATER TODAY, WITH FORMER CEO GREENBERG AMONG THEM - UNCONFIRMED REPORT
[11:23] {Threei} - Note there were reports on Friday that large shareholders in AIG were looking to help pay off the Govt loan to prevent the Govt from taking an 80% stake
[11:24] {pita} Warren to the rescue?
[11:24] {GeoArb} he is the only capitalist left
[11:24] {Threei} MS
[11:24] {Threei} TOP HOLDER MEETING REPORTEDLY TO MEET LATER TODAY, WITH FORMER CEO GREENBERG AMONG THEM - UNCONFIRMED REPORT
[11:24] {Threei} - Note there were reports on Friday that large shareholders in AIG were looking to help pay off the Govt loan to prevent the Govt from taking an 80% stake
[11:24] {Threei} oops
[11:24] {Threei} MS
[11:24] {Threei} MITSUBISHI WILL REPORTEDLY PAY $31.25/SHR
[11:24] {GeoArb} poor guy..... every time the assets gets priced at a point he is ready to buy socialist govn mucks it up for him
[11:25] {Threei} - Note there were earlier reports that Mitsubishi would be taking a stake at $31/shr{8306.JP}
[11:26] {GeoArb} hey vad trivia......... did ya know nikon is a mitsubishi subsidiary?
[11:26] {Threei} US TREASURY SPOKESPERSON: SEC PAULSON HAD GOOD TALKS WITH CONGRESS, CONFIDENT CONGRESS WILL PASS BILL THIS WEEK
[11:26] {Threei} nope
[11:26] {GeoArb} they dont advertize it as nikon has higher brand value
[11:28] {Threei} CEG
[11:28] {Threei} EDF HAS SUBMIITED PROPOSAL REQUEST THAT INCLUDES AN OFFER FOR $35/SHR - FILING
[11:29] {GeoArb} democrats want ceo pay regulation in the bill
[11:29] {GeoArb} paulson is refusing
[11:30] {GeoArb} http://online.wsj.com/article/SB122209290438362805.html
[11:33] {cosmo} ... too bad we cant have Pat Paulson running things...
[11:34] {Threei} CEG
[11:34] {Threei} CEO: REPORTEDLY ACCEPTED $35/SHR SUPERIOR OFFER FROM EDF - CONF CALL
[11:35] {Threei} so why is it 7 bucks lower?
[11:36] {pita} Market down USO up, time to short UAUA at break of lows?
[11:37] {Threei} most likely
[11:38] {Threei} but let's keep tight stop
[11:38] {Threei} it trades wierd
[11:38] {Threei} stop above .20 I'd say
[11:41] {dino} umbf
[11:41] {dino} arow fast drop
[11:54] {Threei} good read UAUA pita
[11:55] {dino} chtt
[11:56] {magoo} vad, laser message breaking error trades from friday...i double clicked to be sure not us and lost the message
[11:57] {magoo} was it those ZION trades?
[11:57] {Threei} yup
[11:59] {dino} sm chtt l .40
[12:01] {dino} v sm umbf l .66
[12:09] {Threei} pita, covered UAUA under 12?
[12:10] {Threei} FITCH: US GOV'T RESCUE PLANS ARE "MANAGABLE" WITHIN AAA SOVEREIGN RATING, GOV'T RATING IS SUPPORTED BY A DIVERSIFIED, HIGH-INCOME ECONOMY AS WELL AS USD'S STATUS
[12:10] {Threei} {EUR/USD GBP/USD USD/CHF USD/JPY USD/CNY USD/CAD}
[12:11] {magoo} l rimm .30 here small
[12:12] {Threei} I agree mags
[12:12] {Threei} market is probably putting a bottom in and getting ready for reversal
[12:12] {dino} feeling same
[12:13] {Threei} still can't believe how quiet today's market is
[12:13] {Threei} you would expect all the hoopla of last to carry over just a tad
[12:15] {magoo} grrrrrrrrrrr
[12:15] {dino} everything going spready
[12:16] {Threei} a bit too early on RIMM
[12:16] {Threei} don't get stubborn, wait for better entry
[12:19] {pita} later all
[12:19] {Threei} take care pita
[12:20] {dino} cya pita
[12:20] {magoo} aapl went..rimm should
[12:22] {Threei} swampy action
[12:23] {Threei} if not that first morning trade on AIG, would be a totally wasted day not worth waking up
[12:31] {Threei} WB
[12:31] {Threei} S&P CUTS RATINGS ON 2 CDOS RELATED TO WB
[12:35] {dino} celg sm l .99
[12:46] {Threei} so far, market holds the bottom
[12:47] {Threei} but it feels like it's not going anywhere for real until the destiny of rescue package is decided upon
[12:47] {Threei} AIG is above 5 again
[12:48] {dino} chtt stop to .90
[12:52] {Threei} why the heck QID is not shortable
[12:52] {Threei} what's wrong with shorting ultrashort
[12:52] {dino} i could'nt get dxd either
[12:52] {dino} whats dji ultra long symbol?
[12:52] {magoo} shorting ultrashort
[12:53] {magoo} those two words vad
[12:54] {hawkfan4} i think it's DDM dino
[12:54] {dino} wtfc sm l .53
[12:55] {dino} yes, thx hawk
[12:55] {dino} out chtt .99, +.59
[12:57] {Threei} SKF range 5 dollars...
[12:57] {Threei} when was it trading in such narrow range
[12:57] {Threei} if at all
[12:58] {Threei} wow oil
[12:59] {dino} skf in theory should be up, but who knows what it does now
[13:00] {Threei} yeah, they totally ruined its structure
[13:00] {dino} seriously, banks are down big
[13:00] {Threei} no kidding...how can SKFD be in red with banks down
[13:01] {dino} celg stop to .29
[13:01] {dino} changed the rules
[13:02] {dino} out celg .29, +.30
[13:02] {Threei} so far, even before the package is adopted, it's killing $USD, sending oil and gold up
[13:02] {Threei} scared to think what 700B will do to it
[13:04] {dino} in theory, they should be able to make money off those mortgages, over time....but then again it's the govt. and as ron regan said.."the 9 scariest words, i'm from the gov't and i'm here to help"
[13:05] {Threei} lol
[13:05] {Threei} boy was he right
[13:08] {Threei} AIG feels much higher but sheesh,, very tough trader
[13:09] {Threei} morning rush gave it nice push... became much harder ever since
[13:18] {dino} lod's
[13:24] {Threei} MOODY'S: US AAA RATING IS 'UNSHAKEN'
[13:25] {Threei} USD FALLS 2% AGAINST THE EURO, THE BIGGEST ONE DAY DECLINE IN SEVEN YEARS
[13:35] {hawkfan4} wow oil, halted
[13:36] {dino} huh?
[13:36] {Threei} sheesh
[13:36] {hawkfan4} limit up
[13:36] {Threei} Nymex halted oil trading for 5 minutes
[13:36] {dino} out wtfc spiked, .53, +1.00
[13:36] {dino} right thru me another buck
[13:37] {dino} we are witnessing some historic actions
[13:38] {Threei} totally
[13:38] {dino} dude
[13:38] {dino} :)
[13:39] {dptl} dude..lol
[13:43] {Threei} is this the biggest one day run-up in oil?
[13:44] {dino} :dk
[13:44] {dino} thinking no
[13:46] {Threei} REP FRANK: TREASURY PLAN WILL COST LESS THAN $700B
[13:46] {Chaeron} he needs to go
[13:47] {Threei} GS
[13:47] {Threei} NO PLANS TO RAISE CAPITIAL - UNCONFIRMED REPORT
[13:47] {Threei} uh oh
[13:47] {Threei} famous last words
[13:50] {dino} sm l celg .60
[13:50] {Threei} REP FRANK: ADMINISTRATION AGREES ON SHARE WARRANT STIPULATIONS, TREASURY PLAN WILL COST LESS THAN $700B WHEN ALL IS SAID AND DONE, HOUSE AND SENATE PLANS ARE "PRETTY CLOSE"
[13:50] {Threei} - Notes does not believe that hedge funds will be able to participate in the plan put forth by the Treasury
[14:00] {dino} schw
06[14:07] * Threei slaps laserdave1 around a bit with a large trout
06[14:07] * Chaeron slaps laserdave1 around a bit with a large trout
[14:09] {hawkfan4} AIG new hod
06[14:15] * magoo slaps laserdave1 around a bit with a large trout
06[14:15] * magoo slaps hawkfan4 around a bit with a large trout
[14:15] {dino} celg stop to .99
[14:15] {magoo} thats for gettin in between us there lol
[14:16] {Threei} lol
[14:17] {GeoArb} dave dcc pls
[14:17] {dino} make celg .25
[14:19] {Threei} AIG requires much more patience today than I am capable of
[14:19] {Threei} [13:08] {Threei} AIG feels much higher but sheesh,, very tough trader
[14:19] {dino} out celg .25, +.65
[14:20] {Threei} what the hell is going with oil?
[14:21] {Threei} Nov contract is 109 but Oct 127?
[14:21] {hawkfan4} oil insane. dollar weakness+ the oct contract expires today
[14:21] {dino} short squeeze?
[14:22] {Threei} ooohhh... contract expiration
[14:23] {Threei} {--- crying about AIG
[14:23] {magoo} me too vad..blowing tears and nose
[14:24] {Threei} why do I have this feeling hawk is riding it from 4.50
[14:24] {Threei} 1 mil shares too
[14:24] {hawkfan4} 4.04 from Friday ;})
[14:25] {Threei} sh*t :)
[14:25] {Threei} it's even worse than I thought, lol
[14:25] {hawkfan4} lol
[14:25] {Threei} ok hawk, you may or may not feel it's right thing to do, but I gotta do what I gotta do
06[14:25] * Threei slaps hawkfan4 around a bit with a large trout
[14:26] {hawkfan4} whew, been a while, was feeling left out
[14:26] {Threei} lol
[14:26] {Threei} just wait till magoo picks himself up from the floor
[14:28] {magoo} been awhile??i hit u earlier ol
[14:28] {magoo} but........................
06[14:28] * magoo slaps hawkfan4 around a bit with a large trout
[14:28] {hawkfan4} lol, missed that one, 3rd time's the charm :)
[14:29] {Threei} of cpurse you missed that one... been too busy counting millions made on this trade
06[14:30] * dino slaps magoo around a bit with a large trout
[14:30] {magoo} [14:07] * Threei slaps laserdave1 around a bit with a large trout
[14:30] {magoo} [14:08] * Chaeron slaps laserdave1 around a bit with a large trout
[14:30] {magoo} [14:09] {hawkfan4} AIG new hod
[14:30] {magoo} [14:15] * magoo slaps laserdave1 around a bit with a large trout
[14:30] {magoo} [14:15] * magoo slaps hawkfan4 around a bit with a large trout
[14:30] {magoo} [14:15] {magoo} thats for gettin in between us there lol
[14:30] {hawkfan4} ha, nice!
[14:32] {Threei} NY GOV PATTERSON REPORTEDLY HAS A PLAN TO PROTECT AGAINST SPECULATION
[14:32] {Threei} huh?
[14:36] {dino} what the hell, isn't that what buying stocks, commodities, and real estate is all about
[14:36] {Threei} no kidding
[14:36] {Threei} actually it's very easy to atop specualtion
[14:36] {dino} speculation is my occupation
[14:37] {Threei} assign all the prices to all the goods
[14:37] {Chaeron} socialism?
[14:37] {Threei} just don't forget to ask Soviet Uniom how it worked out
[14:37] {magoo} magoo looking up the word spectrolizution in pictionary
[14:37] {dino} speaking of that sold that foreclosure sunday
[14:37] {Threei} ok, one thing I need explanation on
[14:38] {Threei} we don't want certain stocks to go down, so we ban shorts
[14:38] {Threei} but we also don't want oil to go up
[14:38] {dino} so ban longs, lol
[14:38] {Threei} what is to prevent us from baning longs on oil?
[14:38] {Threei} can't buy it
[14:38] {Threei} period
[14:38] {Threei} can sell only
[14:39] {dino} it's ok to short commodities but not stocks is the thinking
[14:39] {Threei} and can't even buy back higher than, umm, say 50.bbl
[14:39] {dino} what do you expect from politicians
[14:39] {Threei} hmmm
[14:39] {Threei} do that right thing of course?
[14:39] {Threei} act accordingly to their conscience?
[14:39] {Threei} deliver on election promises?
[14:40] {dino} it is all about getting re-elected. don't kid yourself.
[14:40] {Threei} put constituents first?
[14:40] {Threei} wait... let me wake up
[14:41] {cosmo} speculate on a 401k, why dont ya
[14:41] {Threei} great... now, after properly waking up, I expect them lie and cheat
[14:41] {Threei} sigh
[14:42] {cosmo} that can be medicated...
[14:42] {dino} i want to know when it became wrong to speculate
[14:43] {dino} it is what built this country
[14:44] {Threei} GM
[14:44] {Threei} FITCH CUTS RATINGS TO CCC FROM B-, OUTLOOK NEGATIVE
[14:45] {Threei} another bailout in the making?
[14:45] {Threei} not in a short list too
[14:45] {dino} yes, they are getting massive gov't loans
[14:46] {dino} vote is soon, they will get them
[14:46] {Threei} what a frikin burning shame
[14:46] {Chaeron} *sigh*
[14:47] {Threei} anything left in USA that actually makes money?
[14:47] {magoo} can't find spectroluationvitz in the pictionary guys??
[14:47] {magoo} is your trading room based in u.s vad?
[14:47] {Threei} it's Internet-based
[14:47] {Threei} lol
[14:48] {cosmo} we're non-local
[14:49] {dino} good thing or they would ban us
[14:49] {dino} fdx lod
[14:53] {Threei} FRE and FNM new highs
[14:54] {Threei} what's uo with those pigs
[14:54] {magoo} cosmo..u are "non-typical" lol
[14:58] {Chaeron} {Threei} what's uo with those pigs --- }} "speculators"
[14:59] {Threei} oh
[15:00] {Threei} MCD
[15:00] {Threei} NOTES BAC WILL NOT BOOST FRANCHISEE LOANS, ADVISES FRANCHISEES TO SEEK ALTERNATIVE FINANCING
[15:01] {Threei} IMCL
[15:01] {Threei} FIVE-YEAR ERBITUX DATA SHOWS SIGNIFICANT IMPROVEMENT IN SURVIVAL IN HEAD AND NECK CANCER
[15:01] {Threei} {BMY}
[15:06] {Threei} in AIG
[15:06] {Threei} too tempting
[15:06] {Threei} stop under 5
[15:08] {dino} ehth
[15:11] {magoo} where u in vad
[15:11] {magoo} do not want to chase
[15:11] {Threei} .15
[15:11] {Chaeron} I chased I guess.. .20
[15:12] {Threei} doeasn't look good
[15:14] {magoo} heres an oldie bur goodie
[15:14] {magoo} denny crane:)
[15:20] {dino} zion crash
[15:20] {Threei} darn shorts
[15:20] {Threei} wait
[15:20] {Threei} no shorts
[15:20] {Threei} spculators?
[15:20] {Threei} fre
[15:21] {Chaeron} darn govt reg
[15:21] {Chaeron} can I file for assistance for this stop?
[15:21] {Threei} I am sure
[15:22] {Chaeron} well, think of it... they get $$$ if I make money (taxes)... and everyone else is getting $$$
[15:25] {dino} sivb
[15:32] {Chaeron} stopped - .20
[15:33] {Chaeron} thank goodness for stops
[15:34] {Threei} absence of shorts doesn't work very well
[15:35] {dino} not at all, lots of banks down 5-15 bucks today
[15:37] {Threei} -320 DJI
[15:37] {Threei} time for another rescue package?
[15:38] {Threei} I mean, let's throw 700B at the market each -300 day
[15:38] {Threei} in a few weeks we might end up green
[15:40] {dino} don't count on it
[15:40] {Threei} on green?
[15:40] {Chaeron} The market was 500 trades away from Armageddon on Thursday, traders inside two large custodial banks tell The Post.
[15:40] {Chaeron} Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor.
[15:42] {dino} lod
[15:43] {GeoArb} sheesh
[15:43] {GeoArb} all my fertilizing and planting went to waste
[15:43] {GeoArb} arugula anyone?
[15:43] {Threei} wow AIG
[15:43] {Threei} what happened?
[15:43] {Threei} nmo news
[15:44] {dino} hmmm, new high was friday 11,483, previous was 11590. another lower high before dump
[15:45] {dino} and just about another 400 pt day.
[15:46] {Threei} the only guess I can make is, no covers to soften drop
[15:46] {dino} yes, thinking no shorts to cov. so no buyers at all
[15:47] {GeoArb} back at almost 1200 es
[15:49] {dptl} have a good evening all..see ya tomorrow :)
[15:50] {Threei} take care dop
[15:50] {Threei} dp
[15:50] {dino} later dp
[15:51] {Threei} WM??
[15:52] {Threei} TD IS REPORTEDLY CONSIDERING MAKING A BID FOR THE CO.
[15:52] {Threei} {TD}
[15:54] {Threei} now what, TD changed their mind?
[15:54] {Threei} WM MOODY'S CUTS FINANCIAL STRENGTH RATING TO E
[15:54] {Chaeron} don't think that stands for Excellent........
[15:55] {dino} (the)end
[15:55] {Chaeron} :)
[15:58] {Threei} well, they did just half of job
[15:58] {Threei} gotta ban selling by longs as well
[15:58] {Threei} then maybe...
[15:58] {Threei} US SENATOR REID: A 'RUBBER STAMP' OF MARKET RESCUE PLAN WILL NOT BE TOLERATED
[15:58] {Threei} {XLF}
[15:59] {Threei} dull and boring day
[16:00] {Threei} ends on sharo down too
[16:00] {Threei} shrp
[16:00] {Threei} did they save us or didn't they
[16:00] {dino} -4% since friday high
[16:00] {dino} dji
[16:01] {Threei} sigh
[16:01] {Threei} Ok guys, have a good evening
[16:01] {dino} u2 thx all
[16:01] {Threei} let's see if they save us once more tomorrow
[16:01] {Threei} I suspect if they save market couple times more, we will see DJI at 1000, lol
[16:02] {dino} oil biggest day on record
[16:02] {Threei} yup
[16:02] {dino} +15
[16:03] {dino} tater all, decent day
[16:11] {magoo} ty all
[16:25] {peterg} and to all a goodnight!

Sep 19 2008

Session Time: Fri Sep 19 00:00:00 2008

[08:19] {magoo} morning
[08:20] {tomg} morning
[08:21] {magoo} tom
[08:21] {tomg} u able to log in to laser magoo?
[08:21] {magoo} no, was gonna ask u
[08:22] {Threei} morning
[08:22] {tomg} nope
[08:22] {Threei} called dave yet?
[08:22] {tomg} no
[08:22] {magoo} morn vad...no, just got in
[08:22] {magoo} can u get in vad?
[08:22] {Threei} please do mags, I don't want to wake up family by phone talk
[08:22] {Threei} no
[08:23] {Threei} massive gap up
[08:24] {Threei} just how timely was yesterday's warning not to have any shorts overnights
[08:24] {magoo} left message on his cell now vad...do u have home phone number? dcc me ill call that
[08:33] {Threei} tom, should be up in 10 min
[08:34] {Threei} they need to incorporate this SEC order in software
[08:34] {Threei} it came out in the middle of the night
[08:35] {magoo} vad..dcc again
[08:45] {Threei} so... LEH didn't make it by just 1 week
[08:46] {Onix} gm all
[08:46] {Threei} Onix :)
[08:50] {Threei} read the message when you log in to Laser
[08:50] {Threei} explains the new shorting rules
[08:52] {tomg} i'm in now vad
[08:52] {Threei} yup
[08:52] {magoo} goitta reboot brb
[08:53] {Threei} DJI is up 532
[08:53] {Threei} NQ is up 75
[08:53] {Threei} lol
[08:54] {Threei} can you imagine holding any short over THIS night?
[08:57] {Threei} SKF is decimated
[08:57] {Threei} now, this would be a good short, lol
[08:58] {peterg} morning
[08:58] {Threei} peter :)
[09:05] {magoo} BACK
[09:06] {dino} gm all
[09:09] {Threei} dino :)
[09:10] {Threei} PRESIDENT BUSH TO MAKE STATEMENT ON ECONOMY AT 10:45AM ET
[09:11] {dino} it's b.s tho. think about it, all of the major banks/investment houses have propriety trading divisions, which short stocks.
[09:11] {dino} how do you think mer, gs, leh, etc made money
[09:11] {Threei} and hedge funds
[09:12] {dino} of course, good for us, but not when the public figures it out
[09:13] {fernp} Good morning all
[09:13] {Threei} fern :)
[09:13] {hawkfan4} gm all
[09:13] {Threei} hawk :)
[09:14] {magoo} i just to test tried to sh gs...not avail
[09:14] {dino} my daily rant, sorry guys
[09:14] {pita} gm all
[09:14] {dino} patience, hmmm +400 and another +400, what happens around 11590 and 11790?
[09:15] {Threei} pita :)
[09:16] {pita} we are saved! NOT!
[09:16] {Threei} but shorts are murdered
[09:17] {magoo} if we were down like 800 points this week..but up 400 yester and 500 tioday..we are above where crisis started
[09:18] {Threei} how bitter for LEH
[09:19] {Threei} imagine, to drown in just 2 ft from the shore
[09:19] {Threei} mama... just looked at WB
[09:20] {esemde} good morning....can't hook up to my trading platform.....
[09:20] {Threei} hi ese
[09:21] {peterg} Vad, looks like bsns as usual on laser, no?
[09:21] {Threei} yes
[09:21] {peterg} for shorts i mean
[09:21] {Threei} oh no
[09:21] {Threei} there are 799 stocks no one can short anymore
[09:21] {Threei} until Oct 2
[09:21] {peterg} i missed the list
[09:22] {dino} gov't manipulation
[09:22] {peterg} shows how powerful we have become.
[09:22] {peterg} It was us that did this
[09:22] {Threei} here is the list:
[09:22] {Threei} http://sec.gov/rules/other/2008/34-58592.pdf
[09:24] {Threei} MERRILL COMMENTS THAT CHANCES OF A DEAL BETWEEN WB AND MS ARE RISING (TIMING UNCERTAIN)
[09:24] {Threei} {WB}
[09:24] {peterg} well that takes some of the fun right out ot it
[09:24] {peterg} IT IS THEREFORE ORDERED THAT THERE WILL BE NO MORE FUN
[09:26] {Threei} lol
[09:33] {Threei} watching AIG for bounce scalp
[09:33] {Threei} not ready yet
[09:34] {Threei} gotta lwet some profit taking axhaust itself
[09:34] {Threei} only with better spelling
[09:35] {magoo} news BIDU vad?
[09:35] {magoo} only tech down
[09:35] {Threei} no
[09:36] {Threei} very soon AIG
[09:36] {Threei} I doubt I'll be able to alert in time
[09:36] {Threei} one more leg down probably
[09:37] {Threei} watching GS for guidance
[09:37] {Threei} 3.61 if holding .50
[09:38] {Threei} although I'd prefer one more dump
[09:40] {Threei} 3.51 now if holding above .40
[09:40] {Threei} although I'd prefer one more dump
[09:41] {Threei} FED STAFF: FED WILL MOST LIKELY NOT LOSE MONEY ON NEW LENDING PROGRAM, PROGRAM ALREADY POSITIVELY AFFECTING MARKETS
[09:41] {Threei} {XLF}
[09:41] {Threei} quick dive under 3 would be perfect
[09:41] {magoo} full or half?
[09:42] {Threei} liquidity is big, full
[09:42] {Threei} just keep stops
[09:43] {judijim} WOW good morning all
[09:43] {Threei} 3.10 got defended
[09:43] {Threei} jj :)
[09:43] {dino} grrrrrrrrrrrrrrrrrrrrrr, botted out of cyber, still not in
[09:43] {Threei} ouch
[09:43] {Threei} sorry dino
[09:43] {Threei} volume must be melting chipsets
[09:44] {dino} i should be back in time to short something, obviously missing the up
[09:45] {dino} 800 pts less than 20 hours, hmmm
[09:46] {Threei} missed AIG
[09:48] {Threei} Long Setup: ABK .20 break
[09:49] {Threei} stop under .10
[09:51] {pita} cant get chart ABK - are you in?
[09:51] {Threei} yes
[09:52] {dino} look out magoo, i'm going to throw something
[09:52] {pita} in .20
[09:52] {peterg} Govt orders stop to short sales in selected stox. Henceforth all traders are to think only happy positive thoughts.
[09:53] {Threei} stopped
[09:53] {peterg} negative feeling only allowed briefly when stopped
[09:53] {Threei} lol
[09:53] {peterg} then back to happiness
[09:54] {Onix} stoppe ABK
[09:54] {dino} 'talk to chuck" on hold for 20 minutes, then, hey, server trouble, sorry.....well i feel better now, sheesh!
[09:55] {patience} dino, just got tossed out of td waterhouse, site won't connect
[09:55] {patience} missed the opening, my daughters bike was stolen overnight, drove her to work
[09:55] {dino} sucks
[09:55] {dino} i'm in
[09:56] {patience} me too just now\
[09:56] {peterg} That chuck, such a nice guy
[09:56] {esemde} questrade is down as well dino....
[09:57] {Threei} wow
[09:57] {patience} bounced out again
[09:57] {Threei} tech hell acrosss the board?
[09:57] {Threei} where is laserdave, gotta shake his hand
[09:57] {Threei} or slap him
[09:57] {Threei} SKF halted?
[09:58] {dino} ultra financial short, hmmm, can it operate
[09:58] {Threei} really
[09:58] {dino} hmmmm
[09:58] {Threei} high confusion
[09:59] {dino} banks, brokers dropping
[09:59] {patience} gold dropping
[10:00] {peterg} other shoe dropping
[10:00] {Threei} TREASURY SEC PAULSON: FRE/FNM WILL BOOST ASSET BUYS
[10:02] {Threei} FDIC'S BAIR: MORE BANKS WILL FAIL
[10:03] {Threei} hmmm... weren't we just saved?
[10:03] {dino} ctxs
[10:04] {dino} too fasy
[10:04] {magoo} my god..the uphoria didn't last 30 moins
[10:04] {magoo} mins
[10:04] {dino} ctrp
[10:05] {Threei} well, such gap was bound to bring profit taking
[10:07] {dino} lots of gaps in charts, not good
[10:07] {Threei} FED OFFICIAL: ESTIMATED MONEY MARKET MUTUAL FUNDS HOLDINGS OF GSE DISCOUNT NOTES TOTTAL $69B
[10:07] {Threei} {FNM FRE}
[10:11] {Threei} AIMA: BANS ON SHORTING RECENTLY RELEASED MAY INCREASE COST OF CAPITAL FOR BANKS
[10:13] {Threei} Paulson on TV
[10:13] {Threei} TREASURY SEC PAULSON: NEWLY ANNOUNCED BAILOUT WILL APPROACH HUNDREDS OF BILLIONS OF DOLLARS, URGES CONGRESS TO TAKE ACTION NEXT WEEK - Q&A
[10:13] {Threei} eeck
[10:15] {Threei} interesting pause in the market
[10:15] {Threei} state of total confusion
[10:16] {patience} needed the electricity to start the mint's printing presses
[10:16] {dino} atlo?
[10:16] {Threei} big gap, OK... sell, take profit, cover those ill-fated shorts, OK... now what?
[10:17] {dino} tried to short wynn 98, couldn't borrow
[10:17] {magoo} what would hurt the masses most? neg 200 today
[10:17] {dino} ugh
[10:17] {dino} magoo, nice
[10:18] {Threei} MS
[10:18] {Threei} REPORTEDLY CALLS THE GOVERNMENT PLAN A GAME CHANGER FOR FIRM, STILL PREFER TO REMAIN INDEPENDENT - CNBC
[10:24] {Threei} something strange is happening
[10:25] {Threei} like liquidity dried up
[10:25] {patience} ?
[10:25] {Threei} UAUA dropped 40 cents in one gasp,
[10:25] {Threei} and it was not a normal trading
[10:26] {Threei} then moved back up
[10:26] {Threei} and again, bids and asks kind of teleported
[10:26] {peterg} Obi Wan says, after Alderon destroyed, " there has been a change in the Force.
[10:27] {dino} lol
[10:27] {Threei} maybe with a lot of trading platform being locked liquidity is low
[10:29] {esemde} am I reading ZION right it reached 107 bucks???and is now under 50....madness
[10:29] {magoo} i just thanking god we are not in the SKF now..we were in it alot yesterday
[10:29] {dino} yes peter, and the dark side (shorts) have been hurt
[10:29] {peterg} I used to like the dark side, before I could only have happy thoughts
[10:30] {Threei} that's what I show too ese
[10:30] {dino} sm risky s dji .35
[10:30] {esemde} holly crap...shades of before 2000 vad
[10:33] {Threei} market just about stopped trading
[10:38] {dino} dia stopped .63 -.28
[10:39] {fernp} seem like market lunchtime
[10:39] {Threei} amazing isn't it
[10:39] {fernp} a bit bored
[10:41] {Threei} wasn't CEG bought at at 26, cash??
[10:42] {Threei} 09/18/08 09:09am
[10:42] {Threei} [CEG] Constellation Energy Group Inc Warren Buffet's MidAmerican Energy signs tentative deal to acquire CEG for $26.50/shr, total deal value seen at $4.7B
[10:42] {dino} cash?
[10:42] {patience} see, he gets to go shopping when there is a sale on
[10:42] {dino} moodys downgrade
[10:42] {Threei} - Deal has been approved by boards of both companies, expected to close within nine months.
[10:42] {Threei} - CEG will issue $1.0B in preferred equity to Midamerican.
[10:42] {Threei} - Follow up: seperately, EdF notes "conditions are not in place" for it to raise its stake in CEG, although it will "keep its options open in the US."
[10:42] {Threei} good for him... my question is, whby is it trading at 22
[10:45] {Threei} this freeze in trading is not what you normally see after such price shocks
[10:46] {Threei} NQ locked within 5 points for 30 min
06[10:46] * laserdave1 slaps magoo around a bit with a large trout
06[10:46] * Threei slaps laserdave1 around a bit with a large trout
06[10:46] * laserdave1 slaps Threei around a bit with a large trout
[10:46] {Threei} dave... what a call on no shorts overnight
[10:47] {Threei} probably saved bacon of many traders
[10:47] {magoo} hey DAVE
[10:47] {laserdave1} ya crazy out there
[10:47] {laserdave1} what a gap
[10:47] {laserdave1} that was so sic
[10:47] {Threei} also. must compliment you on laser's handling these conditions
[10:48] {dino} dxd l .00
[10:48] {Threei} a lot of trading platforms reported meltdown this morning
[10:48] {Threei} (US) PRESIDENT BUSH: WE MUST ACT NOW TO PROTECT THE ECONOMY FROM SERIOUS RISKS, GOVERNMENT ACTION IS ESSENTIAL TO AVOID SEVERE DISRUPTION
[10:48] {Threei} - We must address the root causes behind the instability in mortgage market, assets.
[10:48] {Threei} please do
[10:49] {Threei} address Greenspan first
[10:49] {Threei} then the system
[10:49] {Threei} I want to see that guy exposed for what he is
[10:49] {magoo} to take heat from bush failed osama hunt..bush states "we want greenspan DEAD or ALIVE"
[10:49] {laserdave1} thta Bush
[10:50] {laserdave1} he really knows his stuff
[10:50] {Threei} the most incompetent and politicized Fed chairman in history
[10:50] {Threei} - There is an urgent need for Congress to approve the mortgage puchase plan.
06[10:50] * Chaeron slaps laserdave1 around a bit with a large trout
[10:50] {magoo} yeah..but vad...u made your fortune because of him correct?
[10:50] {Chaeron} Good morning all
[10:51] {Threei} chaeron :)
[10:51] {laserdave1} ah good morning :)
[10:51] {Chaeron} :)
06[10:51] * laserdave1 slaps Chaeron around a bit with a large trout
06[10:51] * magoo slaps Chaeron around a bit with a large trout
[10:51] {Threei} how do you figure mags?
06[10:51] * magoo slaps laserdave1 around a bit with a large trout
[10:51] {Chaeron} thanks... I love you guys too
[10:51] {magoo} u tell tale of being broke..entered mkts in greeney bubble
[10:52] {magoo} bubble was historic
[10:52] {Threei} I don't believe he had much to do with tech bubble
[10:52] {magoo} u made big $$
[10:52] {Threei} and I don't believe I made it thanks to bubble itself
[10:52] {magoo} it sure helped
[10:52] {peterg} and greenspan probably doesn't have a driver except cab driver
[10:53] {Threei} people who made money in those days thanks to bubble solely, lost what they made and then some when bubble bursted
[10:53] {peterg} live by sword, die by sword
[10:53] {Threei} who did make fortune thanks to his bubble are the RE speculators with no money
[10:54] {dino} firtune favors the bold, but darkness lays one step ahead
[10:54] {Threei} at least those who exited it in time
[10:54] {dino} fortune
[10:54] {Threei} he did all he could to contain tech bubble
[10:54] {Chaeron} so I didn't miss any really great trades?
[10:54] {Threei} RE bubble is yes, his creation
[10:54] {Threei} no chaeron
[10:55] {Threei} market fell asleep
[10:55] {Threei} you missed one stop
[10:55] {magoo} vad called ZION long off 50 bux chaer, exit 99 bux
[10:55] {Threei} lol
[10:55] {Chaeron} heheheh
[10:55] {magoo} just half lot tho
[10:55] {Threei} if USO drops sharply from here, UAUA scalp long
[10:56] {Threei} what a wierd look...
[10:56] {Threei} everyone sees what I see on UASUA level 2 and T&S?
[10:56] {Threei} almost no trading
[10:57] {Threei} thin bids and offers
[10:57] {Threei} much thinner than usual
[10:57] {peterg} took phone call--great line, dino
[10:58] {Threei} anyone?
[10:58] {brian3579} yes
[10:58] {Threei} ty
[10:58] {fernp} almost no prints in UAUA
[10:59] {Threei} let'as leave it alone
[10:59] {Threei} too wierd
[10:59] {Threei} and dangerous
[10:59] {brian3579} i dont talk much but always listening vad
[10:59] {Threei} :)
[10:59] {Threei} direct opposite of me
[11:00] {Threei} lol
[11:00] {Threei} at least accorsding to my wife
[11:00] {fernp} MPEL valid dbi?
[11:00] {dino} dxd stopped -.40
[11:00] {Threei} with .65 stop
[11:00] {fernp} ty
[11:01] {Threei} MPEL is unusually thin too
[11:01] {esemde} long MOLX .02
[11:01] {esemde} full lot
[11:02] {Threei} Long Setup: MSFT 25.01 if holding above 24.90
[11:02] {esemde} out MOLX .20
[11:02] {magoo} what???
[11:03] {magoo} we never trade sdofty
[11:03] {esemde} +.18
[11:03] {Threei} the rest is too thin today, mags {G}
[11:03] {Threei} nice one ese
[11:03] {Threei} clean JBE scalp
[11:03] {esemde} quick tks
[11:10] {Threei} 1:1
06[11:10] * Threei slaps magoo around a bit with a large trout
[11:10] {magoo} out .12 TY fl
[11:10] {Threei} and you didn't think I could trade MSFT
[11:11] {magoo} after i picked myself off floor and looked at it..i took it lol
[11:11] {Threei} lol
[11:12] {esemde} never crossed my mind that you couldn't do it Vad
[11:13] {Threei} thank you ese
[11:13] {Threei} it's magoo who doubts me ability to trade 25 cents for a phone call
[11:14] {esemde} anyone who can barbecue shiskabob like you do in my opinion....can do anything
[11:14] {Threei} lol
[11:14] {Threei} US SEN DODD: CONGRESS MUST BE ALLOWED INPUT ON FINANCIAL RESCUE PLANS
[11:14] {Threei} hmm?
[11:14] {magoo} well vad..u show me one pay phone in entire north east
[11:15] {Threei} what, civilization hasn't reached it yet?
[11:15] {Threei} home pigeons is a way to communicate?
[11:15] {Threei} oil quick drop
[11:17] {Threei} UAUA reacted... but really, I don't think I've seen it trading that thinly
[11:17] {esemde} nice move by MOLX....
[11:17] {Threei} MSFT went to 1:2 earlier
[11:18] {esemde} my NVDA swing trade is almost back to even
[11:18] {esemde} nother 20 cents
[11:19] {esemde} still lookin for theat 14 15 area
[11:20] {peterg} Good for you; I lost faith, bailed & ate it.
[11:20] {peterg} not tasty
[11:21] {Threei} Russian markets are halted again
[11:21] {esemde} Iwanted to add another couple of thousand at the 8 dollar level....it was just down there stupid as far as i was concerned
[11:22] {Chaeron} Thanks for MSFT Vad - took + $0.20 from it
[11:22] {Threei} good job Chaeron
[11:23] {Chaeron} oh sorry... in .02 - out .22
[11:24] {dino} qid l .00
[11:32] {Threei} PROSHARES ANNOUNCEMENT, WILL NOT TAKE ORDERS UNTIL FURTHER NOTICE DUE TO SEC ACTION
[11:32] {Threei} - Due to the emergency action announced by the Securities and Exchange Commission on September 18, 2008, temporarily prohibiting short sales of shares of certain financial companies, Short Financials ProShares (SEF) and UltraShort Financials ProShares (SKF) are not expected to accept orders from Authorized Participants to create shares until further notice. Unless notified otherwise, shares will be available for redemption by Authorized Participants as normal.
[11:32] {Threei} - The shares of these ProShares are expected to trade in the financial markets today, but may trade at prices that are not in line with their intraday indicative values. {SKF}
[11:37] {dino} lihr
[11:37] {Threei} REP FRANK: REASONABLY CERTAIN THE HOUSE WILL PASS A BAILOUT PACKAGE BY THE END OF NEXT WEEK, IN LINE WITH THE ADMINISTRATION'S TIMETABLE
[11:37] {Threei} {XLF}
[11:39] {Threei} ok guys, I know thinking is not very popular among us, but let's try
[11:39] {Threei} if Treasury buys mortgages,
[11:39] {Threei} does it or does it not mean huge upside for FRE/FNM?
[11:40] {Threei} SKF opened
[11:40] {dino} not touching it
[11:40] {Threei} no
[11:41] {Onix} ty Vad, i got .17 in MSFT
[11:41] {Threei} :)
[11:42] {dino} out qid -.27
[11:45] {Threei} no connection between SKF and financial stocks
[11:45] {Threei} some repricing is happening within ETF probably
[11:46] {Threei} GS... break of 130 long for adventurous souls
[11:46] {Threei} for very adventurous
[11:47] {Threei} for extremely adventurous
[11:47] {magoo} ok ok i get it
[11:48] {Threei} and specificsally for magoo... only ifd you are beyond adventurous
[11:50] {Threei} half out .65
[11:50] {Threei} out in full 131
[11:50] {Threei} buck for ya
[11:50] {magoo} nice..theres 1..u owe me 1 more pt
[11:50] {Threei} rofl
[11:50] {magoo} our newthingy
[11:51] {Threei} to quote dino... "tough crowd"
[11:52] {dino} indeed
[11:52] {Threei} and to quote ese... indeed
[11:52] {Threei} :)
[11:53] {dino} neu s .47
[11:53] {dino} sm
[11:53] {magoo} quote magoo vad
[11:54] {Threei} to quote magoo... what, just 1 point trade?? You owe me... you owe me big
[11:55] {magoo} :)
[11:56] {dino} ueic
[12:00] {esemde} outta here everyone...have a great weekend
[12:00] {Chaeron} bye ese!
[12:01] {Threei} take care ese
[12:01] {dino} cya es
[12:06] {pita} day job calling again - good fishing everyone...
[12:06] {magoo} have good one pita
[12:06] {Threei} take care pita
[12:22] {Chaeron} .
[12:23] {magoo} ..
[12:23] {Threei} and who is going to sweep all that?
[12:23] {Chaeron} ... - - - ...
[12:24] {Chaeron} I'll get it after close Threei
[12:24] {Threei} okay then... carry on littering around
[12:25] {Chaeron} market up 400+ and day feels done
[12:25] {peterg} .-.-.-.-.-.-.--.-.-.-.-.--.
[12:25] {Threei} Long Setup: MS half lot .76
[12:25] {magoo} interesting last hour and half coming
[12:25] {Threei} stop under .60
[12:27] {magoo} playing that off GS vad?
[12:27] {Threei} nah
[12:27] {Threei} its own setup
[12:28] {Threei} CNBC'S FABER: HEARING GE EXPECTED TO BE ADDED TO BANNED SHORT SALE LIST
[12:28] {Threei} {SPY LM CIT}
[12:29] {Threei} over 1:1 MS
[12:29] {magoo} out .99 TY
[12:29] {magoo} in .77
[12:29] {Threei} :)
[12:29] {magoo} +.41
[12:30] {Threei} hmm?
[12:30] {magoo} um...uh
[12:30] {Threei} lol
[12:30] {magoo} t6he in and outs are correct lol
[12:30] {Threei} MS
[12:30] {Threei} WSJ SAYS FIRM SEES MORE TIME TO DO A DEAL
[12:34] {Chaeron} MS - in 29.76 out 30.19 + 0.43
[12:35] {Chaeron} many thanks Vad
[12:35] {Threei} welcome sir
[12:35] {Threei} GE is running like crazy antelope
[12:35] {Chaeron} I'm playing it safe... Friday and all the witches you know
[12:36] {Threei} yeah, all 4 of them
[12:37] {Threei} next break MS
[12:37] {Threei} very sustainable buying
[12:38] {Threei} pullbacks are buyable so far
[12:38] {Threei} in .15
[12:38] {Threei} stop under 30
[12:39] {Threei} half out .47
[12:39] {Threei} stop to .09
[12:39] {Chaeron} sorry... missed - dang phone
[12:40] {magoo} me too phone
[12:40] {Threei} out in full
[12:40] {Threei} GE drops
06[12:40] * magoo slaps Threei around a bit with a large trout
[12:40] {Threei} what, you two phone each other instead of trading
[12:40] {Chaeron} of course you're on the phone you dummy... we're talking to each other
[12:40] {Threei} lol
[12:41] {Chaeron} lol.... I'm teasing 3i
[12:41] {magoo} roflol
[12:42] {Threei} use GE bounce to find next entry for bounce MS
[12:42] {Threei} awww
[12:42] {Threei} missed while typed, lol
[12:43] {Threei} they got disconnected now
[12:44] {Threei} GE itself is a bounce play though
[12:44] {Threei} desirably on a dive under .50
[12:47] {Threei} in .49, stop under .40
[12:47] {Threei} HOLDERS ARE PURSUING AN EFFORT TO HELP PAY OFF GOV'T LOAN TO PREVENT THE GOV'T FROM TAKING AN 80% STAKE IN AIG - WSJ
[12:53] {dino} cymi
[12:53] {Threei} AIG serous buying pressure
[12:55] {dino} if they can pull it off it will rock
[12:56] {dino} or take it private
[13:07] {Threei} who is running out of gas first on AIG, buyers or sellers
[13:11] {magoo} just make the call he he
[13:17] {Threei} well, looks like 4 break if holding 3.80
[13:17] {Threei} CEG...
[13:17] {Threei} EDF WILL PREPARE A COUNTER OFFER TO BERKSHIRE'S MIDAMERICAN - LES ECHOS
[13:17] {Threei} - reportedly EdF executives are meeting to discuss options.
[13:17] {Threei} - Note EdF is the largest holder (9.5%), and that as a result of bid, company notes it has no other choice.
[13:17] {Threei} - reminder: MIdAmerican signed a tentative deal to acquire CEG for $26.50/shr yesterday.{EDF.FR}
[13:18] {Threei} CIT
[13:18] {Threei} REQUESTS TO BE ADDED TO THE SEC SHORT SELL BAN LIST - CNBC
[13:22] {GeoArb} gm PST time
[13:23] {Chaeron} hey Geo
[13:23] {Threei} Geo :)
[13:23] {dino} DINO- requests to be added to SEC short sell ban list
[13:23] {dino} ENRON, too
[13:26] {magoo} vad,,whats with laser message? breaking ttades now??
[13:26] {Threei} some of those morning wierdos, like ZION
[13:28] {Threei} AIG probably lost mojo
[13:28] {Threei} too bad we can't short .80 break
[13:29] {magoo} blasthmamy
[13:30] {Threei} wooohoo
[13:31] {Threei} BAC
[13:31] {Threei} CEO: NOT ALL REGULATIONS ARE 'GOOD', PAULSON AND BERNANKE HAVE MADE CORRECT DECISIONS
[13:31] {Threei} "good job paulie and bernie!"
[13:31] {Threei} heckuva job
[13:31] {dino} meaning: "once we want to start shorting financials again, they must let us"
[13:32] {Threei} too bad we can live the same event twice, in parsallel universes... and compare results
[13:32] {dino} "our trading dept. has nothing to do, stocks have rallied too much"
[13:32] {dino} "lay-offs will occur w.o short selling employees"
[13:32] {Threei} we have two distinctive campas here
[13:33] {Threei} one camp says, this is the only solution, you guys who object you just don't understand what was at steake,
[13:33] {Threei} ask those who lived through Great Depression what 25% unemployment means
[13:33] {patience} my parents shook their children to the core with the later....i'm the second camp
[13:33] {Threei} another camp says, don't put us in debt for generations, let them fail, clran up and start anew
[13:34] {GeoArb} i have started fertilizing my backyard
[13:34] {GeoArb} ok that didnt come out right :)
[13:34] {Threei} rofl
[13:34] {patience} you're right
[13:34] {dino} lol geo
[13:34] {dino} i'll send my dog to help
[13:36] {Threei} I don't have my own opinion, really... beyond my scope of understanding all the possibilities, odds and implications
[13:36] {Threei} this is too vast for this amateur
[13:36] {dino} i'm in the 2nd camp, if they had let bsc fail, pethaps the others would have acted
[13:36] {Threei} I am happy I was able to trade through this period profitably
[13:37] {GeoArb} i am just happy that financial engineers are being punished
[13:37] {Threei} I don't know what to say dino... I can come up with zillion "yes but" for any position, lol
[13:37] {GeoArb} the next generation will go to real science and engeneering and make something for a change
[13:37] {Threei} Geo, but they don't
[13:37] {Threei} they are being bailed out, forgiven
[13:37] {Threei} and worst of all
[13:38] {Threei} they will be made heores!
[13:38] {Threei} heroes
[13:38] {GeoArb} all IBs are dissapearing
[13:38] {Threei} for rescuing the world
[13:38] {GeoArb} regardless wall street is going to be a different place to work in
[13:38] {dino} don't count on it.
[13:39] {GeoArb} wishfull thinking i guess
[13:39] {dino} where are all of the board of directors and ceo, cfo, etc} they should be indicted, but they won't. the worst is the boards, the get paid 6 figures and then say we did not understand
[13:40] {GeoArb} ias a famous econosit said
[13:40] {GeoArb} ceo pay isnt based on performance
[13:40] {GeoArb} its just a genourous gesture to oneself
[13:41] {dino} a popularity contest, just like politics
[13:47] {Threei} what a beautiful short .80 break would have been eh?
[13:51] {Threei} well so far very nice day even though not many trades
[13:51] {Threei} best of all, magoo got his $1 call
[13:51] {Threei} lett headache for me
[13:51] {Threei} less
[13:52] {Threei} and really... when was last time I called MSFT, lol
[13:52] {Threei} never?
[13:57] {Threei} look at ABK
[13:57] {Threei} I assume there are no short sellers on it, right?
[13:58] {Threei} OFHEO'S LOCKHART: SUPPORTS DECISIONS BY PAULSON, DIRECTS GSES TO BEGIN PURCHASES OF MBS
[13:58] {Threei} {XLF}
[13:58] {Threei} MBS?
[13:59] {Threei} ABK bounce soon
[13:59] {Threei} one more leg down probably
[14:01] {Chaeron} waiting patiently
[14:01] {GeoArb} geo{---- still fertilizing
[14:02] {GeoArb} okok i confess I am in between brokers so not trading :(
[14:03] {Threei} I am trying to make all $1 calls while you cxan't trade Geo...
[14:03] {GeoArb} thats just cruel vad
[14:03] {GeoArb} you can forget that case of shipped napa wine
[14:03] {Threei} magoo said he doesn't qwant to compete with you on entries and exits 'cause you always undercut him
[14:03] {GeoArb} me??? i am a rank newbie
[14:04] {Chaeron} did I miss ABK?
[14:04] {Threei} I guess chaeron...
[14:04] {Chaeron} sigh
[14:04] {Threei} wanted it closer to .50
[14:05] {Threei} it touched under .60 just for a brief second
[14:05] {Chaeron} yeah... let's see
[14:06] {Threei} PIMCO'S BILL GROSS ESTIMATES THAT THE US WILL PURCHASE US MORTGAGES AT $0.60 ON THE DOLLAR
[14:06] {Threei} maybe second chance coming chaeron
[14:07] {Threei} EDF CONFIRMS MEETING TO DISCUSS ISSUES RELATED TO MIDAMERICAN ACQUISITION OF CEG
[14:07] {Threei} {EDF.FR}
[14:13] {dino} .60 on dollar, then financials should rally, as they were using .30 i believe
[14:15] {dino} neu bstop to .02
[14:16] {Threei} AIG is trying again
[14:20] {Chaeron} on break of 4.09?
[14:20] {Threei} hard to tell... too thick
[14:23] {Threei} this is kind that is much better bought on pullback
[14:23] {Threei} it retreats constantly because of its thickness
[14:23] {Chaeron} yeah... didn't like action
[14:29] {Threei} SEC REPORTEDLY MAY ADD MORE FINANCIAL COMPANIES TO THE BANNED SHORT SELLING LIST
[14:29] {Threei} - Reminder CNBC reported that CIT and GE had also been added to the list, as had not been named before
[14:31] {dino} ge being added, give me a break
[14:34] {patience} never seen the tsx up over 700 points in one day before
[14:35] {Threei} EU'S JUNCKER: FINANCIAL MARKET RESCUE PLAN INITIATED BY THE US APPEARS 'WISE'
[14:35] {GeoArb} can i get my house on that list?
[14:36] {Chaeron} somehow, "government" and "wise" don't fit together.........
[14:36] {Threei} oxymoron
[14:36] {Chaeron} full of morons too
[14:37] {cosmo} wiseguys?
[14:37] {Threei} and someone, give magoo a vocabulary before he decides that I called him a moron
[14:37] {Chaeron} lol
[14:37] {magoo} too late
06[14:37] * magoo slaps Threei around a bit with a large trout
[14:37] {Threei} lol
06[14:37] * Chaeron slaps magoo with a dictionary and thesaurus
[14:37] {GeoArb} rumour is magoo is a wine and caviar kind of guy in real life
[14:38] {magoo} NOT
[14:38] {GeoArb} lol
[14:38] {Threei} yes, he is very refined
[14:38] {magoo} jim beam and tacos
[14:38] {Threei} tax is his clothes for morning run
[14:38] {GeoArb} you mean he cleans the cap efore opening the beer?
[14:38] {Chaeron} lol Geo
[14:38] {magoo} that does itttttttttt
06[14:38] * magoo slaps GeoArb around a bit with a large trout
[14:38] {GeoArb} heheheheh
[14:39] {GeoArb} i thought that was rather good
[14:39] {GeoArb} for me being a snob is drinking kronenberg 1664
[14:39] {GeoArb} thats just wrong
[14:40] {Threei} so what about WM that is being a subject of bidding war by 4 or 5 banks
[14:40] {Threei} why is this thing lies in mud
[14:41] {Threei} trying to find candidates for end of day run
[14:41] {Threei} AIG
[14:41] {Threei} WM
[14:41] {judijim} we're saying good bye for now. Take care everyone and good trading.
[14:41] {Threei} take care jj, have fun and good trading
[14:41] {dino} take care jj
[14:43] {Threei} ABK probably
[14:43] {Threei} drop from 8.5 to 4.5, should be bounce-worthy, no?
[14:46] {magoo} no
[14:46] {Threei} ok... let's try to get it at 4
[14:47] {Threei} AIG's crawling
[14:47] {magoo} full ?
[14:47] {Threei} sure
[14:47] {Chaeron} closer to 4?
[14:47] {dino} neu cov stopped .08 ave +.38
[14:47] {Threei} no way to tell exactly chaeron
[14:47] {Threei} but it's likely to lose 4.50 this time
[14:47] {Threei} here we go
[14:47] {magoo} lets sh it
[14:49] {magoo} missed it
[14:50] {magoo} only saw .45 area
[14:50] {Threei} AIG pullback
[15:05] {dino} matw sm l .58
[15:06] {magoo} what u got vad
[15:06] {Threei} where?
[15:07] {Threei} ABK I missed
[15:07] {Threei} AIG 4.07
[15:09] {Threei} (UK) UK'S DARLING: UK FINANCIAL MARKET ISSUES ARE SEPARATE THAN THAT OF THE US, HOWEVER ACTIONS BY THE FED AND TREASURY ARE SUPPORTED
[15:09] {GeoArb} i thought I was Uk's darling :)
[15:09] {GeoArb} feel free to kinck me out vad
[15:10] {Threei} lol
[15:10] {GeoArb} ok crap kink me out
[15:10] {Threei} CHICAGO BOARD OF OPTIONS EXCHANGE: SHORT SELLING BAN WILL COMPROMISE MARKETS
[15:10] {Threei} {XLF}
[15:10] {Threei} yup
[15:10] {GeoArb} agree
[15:10] {GeoArb} we are creating empt pockets with no resistance
[15:11] {Threei} Todd Harrison
[15:11] {Threei} "I don't profess to know how long this synthetic bid will last but it will remove an integral layer of demand in the marketplace. Once the life is squeezed out of the shorts--quite literally--the risk to the downside will perhaps be greater than during any time in history."
[15:11] {Threei} I tend to agree
[15:11] {Threei} this is two-sided sword
[15:12] {Threei} FRENCH SECURTIES REGULATOR AMF RESTRICTS SHORT SELLING
[15:12] {Threei} everyone got so short-banning happy
[15:13] {GeoArb} thats it
[15:13] {GeoArb} I am moving to eminis
[15:13] {GeoArb} i can short enything i want
[15:13] {Threei} until they ban it
[15:13] {GeoArb} NQ room vaD?
[15:13] {Threei} nah
[15:13] {Threei} boring
[15:16] {Threei} so why do financials drop with nop shorts?
[15:20] {dino} because fundamentally they are in a world of sh#t, and everybody knows it, so get me out
[15:20] {Threei} that was rhetoric question dino :)
[15:21] {dino} lol, i knew it was, but magoo didn't
[15:21] {Threei} wehat else is new
[15:21] {GeoArb} i thought some one will use "drp" and "shorts" to make up an answer
[15:22] {Threei} we are above that Geo
[15:22] {Threei} we are refined gentlemen
[15:22] {GeoArb} comeone atleast peterg
[15:22] {Threei} inspired by the image of magoo in taxedo
[15:23] {GeoArb} geo{--- goes back to his pipe smoking
[15:23] {Threei} better dust off that tax and join us
[15:23] {dino} dino just goes back
[15:23] {Threei} lol
[15:23] {GeoArb} heheh
[15:24] {Threei} cigar... fine cognac... plush leather chairs...
[15:24] {GeoArb} sounds like a ceo office
[15:24] {Threei} non-rushed discussion of trends in prioduction of ivory buttons for men's shirts in South Argentina in 18th century
[15:25] {dino} ahh yes, i remember those days
[15:25] {GeoArb} really?
[15:25] {dino} indeed
[15:25] {dino} vampire
[15:26] {dino} been around awhile
[15:26] {Threei} out AIG
[15:26] {Threei} .31
[15:27] {Threei} if pulls back nicely, going to try again
[15:28] {magoo} where?
[15:28] {magoo} i keep midssing
[15:28] {Threei} it gave you second chance after I told my entry...
[15:29] {magoo} well..im slow today
[15:29] {Threei} wow... AIG not pulling back anymore
[15:30] {Threei} come on
[15:30] {Threei} give me something better than .38
[15:32] {dino} neog sm l .02
[15:34] {dino} matw stopped -.50
[15:34] {Threei} SEC REPORTEDLY LOOKING AT EXEMPTING OPTIONS MARKET MAKERS FROM THE RULE AGAINST SHORT SELLING
[15:35] {dino} lihr
[15:36] {dino} yeah, lets save the makers, not the buyers, it just keeps getting weirder
[15:38] {Threei} well, they have contradiction between equities and options if no short selling allowed anywhere
[15:38] {Threei} and problems with hedging
[15:38] {Threei} they are just trying to remove this
[15:38] {Threei} it calls comedy of errors
[15:38] {Threei} one idiotic solution, instead of being abasndoned, gets fixed
[15:38] {Threei} oatched
[15:38] {Threei} patched
[15:38] {Threei} duct taped
[15:39] {Threei} until whole thing becomes so cumbersome, non-understandable and unenforceable, everything falls apart
[15:39] {Threei} they said shorts are banned till Oct 2
[15:39] {Threei} I sure hope they won't try and extend it
[15:40] {Threei} I would be interested to know,
[15:41] {Threei} was it pure emotional decision, plus some scapegoat search
[15:41] {Threei} or they looked at actual data
[15:41] {Threei} and decided there were problems with shorting financials
[15:41] {magoo} u like AIG ABK here long?
[15:42] {Threei} can't tell mags, it's momo plays
[15:42] {Threei} no technicals work
[15:42] {Threei} only watching them as momos, for frenzy buying can give you an answer
[15:43] {dino} they will extend it, as it is not enough time to fix the problem banks. if they don't look out below
[15:44] {Threei} well... till Oct 2 I elect to be naive and have faith in common sense return
[15:44] {Threei} on Oct 2 I am ready to be disappointed
[15:44] {dino} july it was stopped on some until aug., look what happened
[15:45] {dino} all the insiders will be getting out on the run up
[15:45] {Threei} amazingly enough, they didn't learn the lesson
[15:45] {dino} would've rather had the up-tick re-instated instead of the ban
[15:45] {Threei} better yet,
[15:46] {Threei} do your frikin job and reinforce your own rule: no illegal naked shorts
[15:46] {dino} yes
[15:46] {Threei} those are problem, not your normal shorts
[15:49] {Threei} what a week
[15:50] {dino} wabc bank getting whacked
[15:50] {Threei} darn shorts sneaked in I guess
[15:50] {Threei} ummm... that came out not right
[15:50] {Threei} lol
[15:51] {Threei} Ok guys, that was the most amazing and amuzing week in my whole trading career
[15:51] {Threei} stuff out of science fiction
[15:51] {dino} lol
[15:52] {Threei} let's have some rest
[15:52] {dino} buy a larger size
[15:52] {Threei} lol
[15:52] {Threei} yes
[15:52] {Threei} that'll help
[15:52] {Threei} thank you all
[15:52] {Threei} have a good weekend
[15:52] {Threei} see you on Monday
[15:53] {dino} cya 3i
06[15:53] * Threei slaps magoo around a bit with a large trout
[15:53] {Threei} NOW my week is over
[15:54] {dino} magoo, a brew
[15:54] {magoo} u got it
[15:55] {dino} out neog .48, +.46
[15:55] {magoo} officially drinking here
[15:55] {dino} slightly neg. today, but best week of moth
[15:58] {dino} adding a sm swing index short
[16:00] {fernp} have a happy weekend all
[16:00] {dino} calling it a week. take care and thx all

Sep 18 2008

Session Time: Thu Sep 18 00:00:00 2008

[08:07] {Threei} MS
[08:07] {Threei} DISCUSSIONS WITH WB ARE IMMINENT - CNBC'S GASPARINO
[08:07] {Threei} {WB}
[08:13] {brian3579} gm
[08:13] {Threei} brian :)
[08:21] {magoo} morn
[08:22] {Threei} magoo :)
[08:23] {Threei} NEW YORK TIMES REPORTS MS CEO CALLED CITI CEO PANDIT ON TUESDAY TO DISCUSS MERGER
[08:24] {magoo} vad, any news RIMM AAPL BIDU?
[08:25] {Threei} kidding?
[08:25] {magoo} huh?
[08:26] {Threei} they don't move on news these days
[08:26] {Threei} unless it's a very very significant news
[08:26] {magoo} im just making sure there isn't anything out there
[08:26] {Threei} market is gapping, they do too\
[08:27] {Threei} it's like ray of hope in the sea of dread
[08:27] {Threei} it's been so bad for so long,
[08:27] {magoo} any new recent news GS?
[08:27] {Threei} any sign of recovery is being greeted
[08:27] {Threei} now, this is right question
[08:27] {Threei} this group is totally news dependent
[08:28] {Threei} nothing GS=specific
[08:28] {Threei} general news in financial sector, a lot of them
[08:29] {Threei} how about this:
[08:29] {Threei} REPORTEDLY CEO MACK CALLED CITI CEO PANDIT ON TUESDAY TO DISCUSS A POTENTIAL MERGER - NEW YORK TIMES
[08:29] {Threei} - On the call Mack told Pandit "We need a merger partner or we're not going to make it."
[08:29] {Threei} - The report cites two people familiar with the situation, noting that Pandit turned down the merger proposal.
[08:29] {Threei} We need a merger partner or we're not going to make it.
[08:30] {Threei} there you have it...
[08:30] {Threei} every headline showing merger as coming - spike up
[08:30] {Threei} any headline denying it - sharp drop
[08:30] {Threei} MS is simply current market worry
[08:30] {Threei} much like FRE/FNM were,
[08:30] {Threei} then LEH,
[08:30] {Threei} then AIG
[08:31] {Threei} it's MS's turn
[08:31] {Threei} second place is probably WM
[08:32] {Threei} but any of big banks and brokers has potential to overatke as major worry if posts serious news
[08:36] {magoo} MB Trading message..penson can't handle volume last few days and not updating trade clearing..accts all wrong
[08:36] {magoo} i thought bear cleared thru penson
[08:36] {Threei} I don't think so
[08:37] {Threei} check with dave but I remember talk about self-clearing
[08:37] {magoo} could u imagine? last 3 days not getting actual confirmation of trades??
[08:38] {Threei} and getting quotes stuck on you
[08:38] {Threei} which is reported across the board by majoritty of brokers
[08:38] {Threei} no single hiccup on laser so far
[08:38] {Threei} even on heaviest volume like AIG
[08:39] {magoo} laser blew dinos mind yester, covered a sh in GS at 100 while prints were showing like 102
[08:40] {Threei} that's one frikin good software for sure
[08:41] {Threei} (IR) IRANIAN PRES: NO SUSPENSION OF IRANIUM ENRICHMENT AS HAS BEEN REQUESTED
[08:41] {Threei} {USO}
[08:43] {Onix} good morning everybody
[08:44] {magoo} Onix:)
[08:44] {patience} good morning RT, another interesting day coming :)
[08:46] {magoo} patience:)
[08:47] {Threei} onix, patience :)
[08:47] {cosmo} VRTX holds 25 ....so far...
[08:48] {Threei} MERRILL ANALYST SAYS WAMU COULD FECTH A TAKEOUT PRICE OF $2-$3/SHR (TIMING UNCERTAIN)
[08:48] {cosmo} # Vertex Pharmaceuticals Announces Pricing of its Public Offering of Common StockBusiness Wire(Thu 8:46am)
[08:55] {fernp} Good morning all
[08:55] {Threei} fern :)
[09:01] {Threei} here is interesting take on oil market:
[09:01] {Threei} http://www.atimes.com/atimes/Global_Economy/JI19Dj02.html
[09:02] {Threei} well worth read
[09:09] {dino} gm all
[09:09] {Threei} dino :)
[09:18] {Threei} PRESIDENT BUSH TO MAKE STATEMENT ON MARKET DEVELOPMENTS AT 10:15AMET
[09:18] {Threei} CEDC
[09:18] {Threei} REAFFIRMS GUIDANCE
[09:19] {esemde} gm
[09:19] {Threei} ese :)
[09:19] {Threei} magoo, for you:
[09:19] {Threei} AAPL
[09:19] {Threei} UPDATE: GOLDMAN SACHS RAISED AAPL TO BUY FROM NEUTRAL
[09:19] {esemde} get to hang with you all just a little bit
[09:21] {cosmo} LVLT
[09:22] {magoo} vad, i want another vad special 2 bux magoo trade today..ok?
[09:23] {Threei} no pressure eh?
[09:23] {patience} financials bounce up today vad?
[09:24] {Threei} if it was pure chart play, I'd say firmly yes
[09:24] {Threei} but with this barrage of news and constant developments at neckbreaking speed... who knows
[09:25] {patience} lots of central bank funding through the night....slosh slosh....money has to go somewhere
[09:25] {Threei} yes but why in financials :)
[09:25] {patience} or sell the bounce?
[09:25] {patience} never mind, i'll trade what i see :)
[09:26] {Threei} my feeling is, this money will try to find sectors with less risk exposure
[09:26] {magoo} tech is pummelled
[09:26] {Threei} andf start forming bottom for those sectors
[09:26] {Threei} while letting financials sort things out
[09:26] {Threei} tech is one
[09:26] {Threei} bth, AAPL is up a buck for you since my post, magoo
[09:27] {Threei} I am half dfone with your request
[09:27] {magoo} OH NO...OH NO..that was not a trade call like yesterday
[09:28] {Threei} sigh
[09:28] {Threei} no relief for me
[09:28] {dino} what only 2 bucks magoo, you don't ask for much
[09:34] {Threei} Long Setup: CALM small shares .50 break if stays above .25
[09:36] {Threei} half out CALM .95
[09:36] {Threei} scalpers take profit
[09:37] {Threei} offer other half 40.20 or so
[09:37] {dino} olmn stop to .08
[09:37] {dino} out +.50
[09:37] {dino} .54
[09:37] {Threei} wtg
[09:37] {dino} ty
[09:37] {dino} had computer cash
[09:37] {judijim} good morning all
[09:38] {Threei} jj :)
[09:39] {magoo} took calm this time vbad..nice
[09:39] {Threei} out or partialled?
[09:40] {magoo} full out
[09:40] {magoo} u know me
[09:40] {Threei} OK
[09:40] {magoo} but took hl
[09:40] {dino} ilmn sm l .15 stop .95
[09:41] {esemde} looking at CORS pullback
[09:42] {dino} light or extra gold
[09:44] {Threei} EU'S ALMUNIA: CAN NOT RULE OUT SOLVENCY ISSUES IN EUROPE, NOR ADDITIONAL GOVT INTERVENTATION IN FINANCIAL COMPANIES
[09:44] {Threei} {XLF}
[09:45] {magoo} where are the dip buyers?
[09:45] {Threei} UAUA
[09:45] {Threei} BOOSTS LIQUIDITY BY APPROXIMATELY $1.2 BILLION, COMPLETES CHASE AGREEMENT
[09:46] {esemde} cors light
[09:47] {Threei} Long Setup: RIMM .50 break
[09:47] {dino} :) es
[09:48] {magoo} lets wait vad for qqqq to reverse
[09:48] {Threei} goes without saying
[09:48] {magoo} r u cranky
[09:48] {dino} ilmn stop to .64
[09:48] {Threei} ain't I always?
[09:48] {dino} out +.49
[09:48] {magoo} oh yeah..thats right
[09:49] {Threei} :)
[09:49] {Threei} if loses 95 becomes rather a bounce play
[09:49] {magoo} again, first sign of strenght q
[09:49] {Threei} yup
[09:49] {Threei} I mean... goes without saying
[09:49] {magoo} lol
[09:51] {Threei} in
[09:51] {Threei} stop under 95
[09:51] {magoo} .23
[09:53] {Threei} dumped .95
[09:53] {Threei} was totally ready for a buck move, don't know suddenly killed it
[09:54] {magoo} really....
[09:54] {patience} tsx up 405
[09:54] {Threei} MS
[09:54] {Threei} CHINA'S CIC REPORTEDLY LOOKING TO INCREASE ITS STAKE TO 49%
[09:54] {magoo} aapl went ..q went..rimm srtarted
[09:55] {magoo} now that was nasty of rimm
[09:55] {dino} ms sm l .38
[09:55] {Threei} jeez
[09:56] {Threei} lol
[09:56] {Threei} good thing MS compensated me meanwhile
[09:56] {Threei} that's some trick onRIMM's part
[09:56] {magoo} what entry u have on rimm..just seeing if my instincts was good
[09:56] {Threei} same as you
[09:57] {magoo} oh..cool
[09:57] {magoo} that trade would work 90% of time
[10:00] {Threei} AUG LEADING INDCATORS: -0.5% V -0.2%E
[10:00] {Threei} SEPT PHILADELPHIA FED INDEX: 3.8 V -10E
[10:00] {Threei} wow
[10:01] {dino} out ms .10, +.72
[10:01] {Threei} wtg
[10:01] {dino} ty for heads up news
[10:01] {Threei} :)
[10:01] {Threei} notice interesting thing
[10:01] {Threei} WB went down on this news
[10:02] {Threei} MS's increase of chance to stay indcependent means no merger for WB
[10:02] {Threei} new pattern emerges
[10:03] {dino} ilmn sm l .40
[10:04] {esemde} OK dino...I chickened out...where would you have gotten in on CORS...and why....
[10:04] {Threei} REPORTEDLY BANK OF CHINA EXECUTIVE STATES THEY ARE NOT READY TO INVEST IN LARGE FOREIGN BANKS
[10:04] {Threei} *This story was originally posted to clients entitled to Global Equities{XLF }
[10:04] {esemde} 5.80?
[10:05] {Threei} if I am right WB should bounce on this news
[10:05] {dino} ilmn stop is .09
[10:05] {Threei} there you go
[10:06] {esemde} is 6.20 still viable dino on Cors
[10:06] {dino} stopped -.31
[10:06] {Threei} starts looking like tradeable pattern
[10:06] {Threei} you got the idea guys?
[10:08] {Threei} grave silence was the answer to him
[10:08] {cosmo} uaua
[10:10] {dino} ugh ilmn rinse
[10:14] {Threei} REITERATES CNBC REPORT THAT MERGER TALKS HAVE REACHED A MORE FORMAL STAGE WITH WB
[10:14] {Threei} {WB}
[10:15] {dino} v sm l .01 wide
[10:16] {Threei} MS
[10:16] {Threei} REPORTEDLY THE MERGER TALKS HAVE REACHED A MORE FORMAL STAGE WITH WB, ALSO DISCUSSING OPTIONS WITH OTHER FINANCIAL COMPANIES - UNCONFIRMED REPORT
[10:16] {Threei} - Note this reiterates a CNBC report earlier this morning{WB}
[10:17] {cosmo} uaua hod = 12
[10:18] {cosmo} fyi
[10:18] {Threei} oil drop helping it
[10:18] {Threei} don't pay UAUA on its own merits
[10:18] {Threei} have USAO on your screen
[10:18] {Threei} USO
[10:18] {cosmo} got both
[10:18] {Threei} you are good then
[10:19] {cosmo} oh gee....
[10:19] {Threei} hehe
[10:19] {cosmo} :)
[10:19] {Threei} USO is bouncing, watch UAUA follow the suit and drop
[10:19] {cosmo} hmm
[10:20] {Threei} it waits a little, as if to see if that's real bounce on USO, or just cople upticks
[10:20] {Threei} there you go
[10:22] {dino} v stop to .44
[10:22] {dino} out v +.43
[10:25] {cosmo} uaua ... to the moon?
[10:26] {Threei} if oil to the center of earth, yes
[10:27] {cosmo} that's one of the theories ... yes
[10:27] {Threei} (RU) FITCH SEES GROWING LIQUIDITY CONCERNS FOR RUSSIAN CORPORATIONS
[10:27] {Threei} {RSX}
[10:30] {Threei} anyone shed RSX on that?
[10:31] {Threei} shed = shorted
[10:31] {esemde} have a great day...see you tomorow......
[10:31] {Threei} take care ese
[10:31] {esemde} see ya vad
[10:35] {Threei} *EIA NATURAL GAS INVENTORIES: +67 BCF VS. +55 TO +65 BCF RANGE OF ESTIMATES
[10:35] {Threei} {UNG}
[10:35] {Threei} UNG dropped like a rock
[10:36] {Threei} CMA
[10:36] {Threei} CUTS DIVIDEND 50% TO $0.33 FROM $0.66
[10:37] {Chaeron} Good morning all
[10:37] {Threei} chaeron :)
[10:41] {magoo} UNG crashing
[10:41] {Threei} was short on that news
[10:47] {dino} v sm l .15
[10:54] {peterg} better late than never
[10:55] {magoo} aapl wewnt neg..was up 4
[10:56] {Threei} Short Setup: UAUA .55
[10:56] {Threei} stop .66
[10:58] {Threei} GE) GERMAN CHANCELLOR MERKEL: TO URGE FINANCIAL MARKETS TO BECOME MORE TRANSPARENT AND BETTER SECURE RISK
[10:58] {Threei} hmmm
[10:59] {Threei} half out UAUA .32
[10:59] {Threei} scalpers take profit
[10:59] {dino} v stop to .98 mkt drop[
[11:00] {Threei} don't tell me no one took UAUA
[11:00] {peterg} took it
[11:00] {Threei} whew
[11:01] {Chaeron} in
[11:01] {peterg} got +.15 ty
[11:01] {Threei} easiest trade in I don't know how long
[11:01] {dino} v stopped -.17
[11:02] {Threei} CME...
[11:02] {peterg} cme
[11:02] {Threei} ugh
[11:02] {Threei} charts nice for short
[11:02] {Threei} but I just can't bring myself to call a stock with 1 dollar spread
[11:03] {Chaeron} took +0.15 on UAUA thanks, Threei
[11:11] {Threei} out in full UAUA
[11:11] {Threei} +.45
[11:13] {peterg} whats up with rimm?
[11:14] {Threei} no idea
[11:14] {peterg} usual i spose
[11:15] {magoo} actually rimmvery predictable...aapl fell..rimm much delayed but followed
[11:15] {magoo} earlier..aapl up..rimm much delay but folloed
[11:16] {Threei} watching UAUA for bounce
[11:16] {Threei} .81 long
[11:16] {Threei} if holding above .70
[11:20] {Threei} wow MS
[11:20] {Threei} I don't see new news
[11:20] {Threei} last one was
[11:20] {Threei} WSJ SOURCE: MS SEEKING A 'CREATIVE DEAL' WITH WB, TALKS STILL ONGOING WITH CHINESE INVESTOR FOR STAKE
[11:20] {Threei} {WB}
[11:21] {Threei} bounce time
[11:21] {Threei} in
[11:21] {Threei} 16.90 stop
[11:21] {magoo} ms or wb bounce?
[11:21] {Threei} ms
[11:21] {Threei} half out .44
[11:22] {Threei} AIG
[11:22] {Threei} NEW CEO LIDDY: INTENTION IS NOT TO LIQUIDATE, HOWEVER AN ANSWER ON DIVESTITURES OF CERTAIN UNITS WILL HAPPEN IN A PERIOD OF WEEKS
[11:22] {Threei} - Remarks that the company has full intentions of paying back the Fed loan
[11:23] {dino} lol
[11:24] {Threei} stop to 16.99
[11:25] {dino} v sm l .60
[11:26] {Threei} offering second half 18.10
[11:26] {Threei} want a buck
[11:26] {magoo} l aapl sm .25
[11:27] {Chaeron} quit trying to be dino, will ya vad?
[11:27] {Threei} got distracted with MS, missed UAUA
[11:27] {Threei} anyone got it?
[11:28] {magoo} i think it was invalidatesd
[11:28] {Threei} OK... missed the development
[11:29] {peterg} got ms for small change due to hesitation but no regret thks
[11:29] {Threei} :)
[11:29] {Threei} stock ias horribly fast and volatile
[11:30] {Threei} can't blame you for desire to keep exposure to a minimum
[11:31] {Threei} awww UAUA
[11:31] {Threei} direct hit MS
[11:31] {Threei} +1.00
[11:31] {magoo} out MS .19 BEAUTY vad
06[11:31] * Threei slaps Chaeron around a bit with a large trout
[11:31] {Chaeron} :)
[11:31] {Threei} welcome sir
[11:32] {dino} gj
[11:32] {Threei} and magoo
[11:32] {Threei} don't call me beauty
[11:32] {Threei} ever again
[11:32] {Threei} people will start having funny thoughts
[11:33] {dino} at thi rate ilmn should cx the spilt for monday
[11:33] {magoo} gonna be hartd to comply
[11:33] {dino} v stop to .99
[11:34] {peterg} went back to the well MS for another +.20. out at .53
[11:34] {Threei} careful with such chasing entires peter
[11:34] {dino} out v .99 +.39
[11:34] {Threei} momo is momo, it's utilizable (if that's a word)
[11:34] {peterg} i likes it
[11:35] {Threei} but overall, it's dangerous
[11:35] {dino} lol
[11:35] {peterg} what, I need to learn setups, too?
[11:35] {dino} risk is your friend, dance w/it
[11:35] {Threei} ummm... sorry, didn't want to imply so much work :)
[11:36] {peterg} thk you
[11:36] {Threei} great... now I am getting lectured about risk {G}
[11:39] {dino} :)_
[11:43] {Threei} TV, mafia leaders plead guilty, plea bargain with judge
[11:43] {Threei} Don Corleone is happy he didn't live to see this
[11:46] {Threei} VIX VOLATILITY INDEX MOVES TO HIGHEST LEVEL SINCE OCT 2002; ABOVE THE JAN 22 SPIKE TO 37.57
[11:47] {Threei} WHITE HOUSE: THREATENING VETO ON THE COMMODITIES SPECULATION LEGISLATION
[11:47] {Threei} {USO IYM}
[11:54] {Threei} market feels like another breakdown is coming
[11:54] {Threei} if NQ shows sharp red bar, UAUA is short
[11:58] {Threei} bounced instead
[12:01] {magoo} today seems alot harder than yester
[12:02] {dino} indeed magoo, indeed
[12:03] {Threei} dunno
[12:04] {Threei} feels qyuite easy for me
[12:04] {Threei} buck on MS, 45 cents on UAUA
[12:04] {Threei} something else
[12:04] {Threei} ummm
[12:04] {Threei} 17 break MS...
[12:04] {Threei} scary but worth a try
[12:04] {Threei} smallish shares
[12:05] {Threei} asctual break only, no aggressive entries
[12:05] {magoo} short?
[12:05] {Threei} yes
[12:05] {Threei} 15-20 cents stop
[12:07] {Threei} half out
[12:07] {peterg} dang, wish I could play but gotta go for 2 hrs. Good hunting
[12:07] {Threei} got .60 cover on first half
[12:08] {Threei} .11 stop
[12:09] {Threei} out
06[12:09] * Threei slaps magoo around a bit with a large trout
[12:09] {Threei} how hard was that?
[12:09] {magoo} nice
[12:11] {Threei} NY AG TO MAKE ANNOUNCEMENT REGARDING SHORT SELLING TODAY
[12:11] {Threei} anyone cared to ask how come china market dropped 70% from its high - and there is no shorting allowed over there?
[12:12] {Threei} window dressing instead of real solutions...
[12:12] {Threei} we need office reconstruction, not redecoration
[12:12] {dino} exactly
[12:14] {dino} skf non avail cyber
[12:15] {dino} not
[12:15] {Threei} available here
[12:15] {Threei} want me to short it for you?
[12:16] {Threei} where do you want me to cover?
[12:17] {Threei} sorry dino... in absence of instructions I covered .70
[12:17] {Threei} from 145.30
[12:17] {dino} yes and cover at 133
[12:17] {Threei} ugh
[12:18] {Threei} OK, will reshort
[12:18] {Threei} say when
[12:18] {dino} lol
[12:18] {dino} and gj
[12:18] {Threei} ty
[12:19] {Threei} in 146.30
[12:19] {Threei} where is stop?
[12:20] {Threei} out 145.6
[12:21] {Threei} it's fun
[12:21] {Threei} doesn't look like short for now
[12:25] {Threei} BK
[12:25] {Threei} REPORTEDLY A BANK OF NY MELLON INSTITUTIONAL FUND THAT WORKS LIKE A MONEY MARKET FUND HAS FALLEN TO LESS THAN $1/SHR
[12:27] {Threei} CNBC REPORTS THAT PUTNAM IS PLANNING TO CLOSE A FUND
[12:31] {Threei} GS
[12:31] {Threei} HEARING GOING PRIVATE RUMORS BEGINGING TO CIRCULATE
[12:33] {dino} ntrs blood
[12:33] {_petike} what is the GS?
[12:34] {Threei} Goldman Sachs
[12:34] {_petike} many thanks;-)
[12:35] {dino} private would do away w/mark to market
[12:35] {Threei} I don't know how to estimate impact of this on financial swector
[12:36] {dino} ntrs 4 days 89-53
[12:36] {Threei} too many implication,s, too few precedents
[12:37] {Threei} WHITE HOUSE: SEC'S COX HAS THE FULL SUPPORT OF PRESIDENT BUSH
[12:37] {Threei} 'ggod job coxie"?
[12:38] {Threei} MS new 52 weeks low
[12:39] {Threei} GS, mama mia
[12:39] {Threei} - The comment comes in the wake of suggestions from Republican Presidential candidate McCain that Cox be fired for his role in the credit crisis.
[12:39] {Threei} {Cox} there you have it, now I know how I vote
[12:44] {dino} gs down about 100 pts in a week
[12:45] {Threei} 15.25 is MS's line of defense
[12:45] {Threei} worth a shot on a short side if breaks it
[12:46] {dino} rumors of hedge fund group trying to break gs, ms
[12:47] {dino} realmoney
[12:48] {Threei} well
[12:48] {Threei} they are doing a heck of a job
[12:49] {dino} so much for the new no naked shorting
[12:50] {Threei} uhhu
[12:51] {Chaeron} UHHU not shortable on Laser
[12:52] {patience} gold climbing nicely, happiness :)
[12:52] {Threei} cover half
[12:52] {Threei} MS
[12:52] {dino} america is on sale
[12:52] {patience} its your dollar that i am worried about dino
[12:54] {dino} out of my hands
[12:54] {patience} no doubt
[12:54] {dino} but it weill be weakened, rate cuts are coming soon
[12:54] {patience} seems likely, here also
[12:56] {dino} around the world
[12:56] {Chaeron} Is this the beginning of the 3rd wave that you were expecting Threei for final flush?
[12:56] {dino} think of this, russian markets closed, those people are selling whatever they can in other markets then
[12:57] {dino} leh tied up in bankruptcy, so their "clients' are selling everything else can't get their leh funds
[12:57] {dino} and so on......
[12:58] {dino} basically an old fashioned bank run, but w/investment banks
[12:59] {patience} interesting article here on bank 'ring fences ' http://londonbanker.blogspot.com/2008/09/ring-fences-rustlers-and-global-bank.html
[12:59] {dino} crowds yelling "get me out"
[12:59] {Threei} mama mia
[12:59] {Threei} MS
[12:59] {Threei} anyone played it short?
[12:59] {Chaeron} was just going to say
[13:00] {dino} gs lows
[13:00] {_petike} i just was not sute is it could go down more
[13:00] {_petike} now im regret it
[13:01] {Chaeron} remember this.... they can always go to zero (LEH)
[13:02] {Threei} STT
[13:02] {Threei} next financial to go
[13:02] {Chaeron} crazy
[13:03] {patience} scary
[13:03] {Threei} halfed already
[13:03] {Threei} in one day
[13:03] {Chaeron} too scary and froggy to trade
[13:04] {dino} i'm confused
[13:05] {Threei} where is cramer
[13:05] {Threei} we need him to tell us what to do
[13:06] {Chaeron} Sept. 18 (Bloomberg) -- The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way.
[13:07] {dino} lol, and they want the presidency too
[13:07] {Threei} is this a joke?
[13:07] {Chaeron} ummm... no
[13:07] {Threei} wow
[13:07] {Threei} lol
[13:08] {Chaeron} http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aVPBaUbYV_qQ
[13:08] {patience} who owns bloomberg?
[13:08] {Chaeron} Michael
[13:08] {dino} news company
[13:09] {Chaeron} One reason, Senate Majority Leader Harry Reid said yesterday, is that ``no one knows what to do'' at the moment.
[13:09] {patience} i know
[13:09] {hawkfan4} 13:05 FSA bans short selling of financial companies; FSA ban on financial co short selling from 2300 GMT Thurs - DJ
[13:09] {hawkfan4} The FSA (Financial Services Authority) is the UK's independent financial regulator
[13:09] {patience} few people will be stopping at the liquor store on the way home from work tonight
[13:09] {dino} synt sm l .35
[13:10] {Chaeron} House Financial Services Committee Chairman Barney Frank said Congress could give the Federal Reserve authority to pay interest on bank reserves sooner than originally scheduled.
[13:10] {Chaeron} ``They already have the authority; it's just a question of moving it up a couple of years,'' Frank, of Massachusetts, told reporters yesterday. ``We're trying to work that out.''
[13:10] {Threei} WB
[13:11] {Threei} interesting
[13:12] {dino} i'm appalled, the senate actually has to work
[13:13] {Chaeron} From Times OnlineSeptember 18, 2008
[13:13] {Chaeron} Russia ratchets up US tensions with arms sales to Iran and Venezuela
[13:15] {Threei} NYT REPORTEDLY FILES AN 'EDITOR'S NOTE' WITH REGARDS TO STORY PUBLISHED ON MS AND CITIGROUP
[13:15] {Threei} {C}
[13:18] {Threei} WB explosion
[13:19] {Threei} NYT REPORTEDLY FILES AN 'EDITOR'S NOTE' WITH REGARDS TO STORY PUBLISHED ON MS AND CITIGROUP
[13:19] {Threei} - Note earlier there were denials over attributions of comments from MS CEO Mack and Citigroup's Pandit
[13:19] {Threei} - Editor's note has now clarified previous report from two individuals who were briefed on the conversation, sources cited in article were 'not present' at conversation where Mack was reportedly quoted as sayin " if we dont have a partership we will not make it', should not have published story without first doing more research {C}
[13:24] {Threei} mags... please make a note somewhere that I overdelivered on a promise to call 2 points for you today
[13:27] {dino} bpfh
[13:28] {magoo} see vad...u perform better when i put the "heat" on u
[13:28] {magoo} NICE
[13:32] {Threei} STATEMENT FROM STATE STREET REGARDING MARKET MISUNDERSTANDINGS
[13:32] {Threei} - confirms that, as previously disclosed, it does not believe consolidation of its conduits is required. State Street confirms that even if it had to consolidate its conduits, it would remain well capitalized with ample sources of liquidity. The company raised $2.8 billion in equity capital in early June 2008 and does not currently have any plans to raise additional equity.
[13:32] {Threei} - NAV) of State Street Global Advisors' money market funds has never declined below $1, including in its Short Term Investment Fund (STIF), Government Short Term Investment Fund (GSTIF) and the Navigator Securities Lending Trust
[13:32] {Threei} - These funds do not have any unsecured exposure to AIG, Lehman, Washington Mutual, Wachovia, Merrill Lynch or Morgan Stanley.
[13:34] {Threei} huge rebound
[13:34] {Threei} in all financials
[13:34] {dino} skf vad 131
[13:34] {Threei} looks like this last round of selloff was caused by unsabstatiated rumors
[13:34] {Threei} at least that'as the story for nwo
[13:34] {Threei} now
[13:35] {Threei} I missed that short dino... :(
[13:35] {Threei} sorry
[13:35] {magoo} i lost short on it vad..had it sh 146
[13:35] {magoo} SIGH
[13:36] {Threei} unbelieavble swings today
[13:37] {magoo} a daytraders paridise
[13:37] {Threei} unfortunately this rebound happened on discussions beyond the curtain
[13:38] {Threei} behind too
[13:39] {magoo} where the hells evadresal(:
[13:39] {Chaeron} wow... we could have made 15+ points on GS :)
[13:39] {dino} woof
[13:40] {dino} cedc sm l .04
[13:41] {Threei} STT pullback
[13:42] {dino} you want to cry chaser, i missed cme at 313.31
[13:42] {dino} chaer
[13:43] {Threei} time for bounce SKF
[13:43] {magoo} where?
[13:44] {Threei} late
[13:44] {Threei} got it 10.40
[13:44] {Threei} 130.40
[13:44] {Threei} half out +2
[13:44] {magoo} in 131.88...ouit 132.34
[13:44] {Threei} lol
06[13:44] * Threei slaps magoo around a bit with a large trout
[13:44] {magoo} right before i assked
[13:45] {magoo} kind of revenge trade
[13:45] {magoo} STT losing ground
[13:48] {Threei} short or no short
[13:49] {dino} cedc stopped -.40 that thing is f#cked
[13:49] {Threei} WSJ CONFIRMING EARLIER RUMORS THAT CALPERS (CALIFORNIA PENSION FUND) WILL NO LONGER LEND SHARES OF GOLDMAN AND MORGAN STANLEY FOR SHORTING
[13:49] {Threei} - confirms earlier rumors
[13:52] {Threei} WB... jeez
[13:53] {Threei} MS
[13:53] {Threei} REPORTEDLY CEO HAS TOLD SENIOR EMPLOYEES THAT HE IS NOT SELLING SHARES - UNCONFIRMED REPORT
[13:54] {Chaeron} no, he has his broker doing it for him.... :)
[13:55] {dino} enron guys said same thing
[13:56] {Threei} lol
[13:57] {Threei} btw
[13:57] {Threei} in case you guys find tis market boring, and need some additional entertainment,
[13:57] {Threei} tomorrow is quadriple witching
[13:57] {Threei} aren't you glad something's going to inject a little volatility?
[13:58] {Chaeron} yea! more 10+ point trades!
[13:58] {dino} lol
[14:00] {dino} stt dropping again
[14:03] {dino} out synt .85 +.50
[14:04] {dino} ilmn sm l .08
06[14:06] * laserdave1 slaps Threei around a bit with a large trout
[14:06] {laserdave1} hey guys
[14:06] {laserdave1} and laser traders
[14:06] {laserdave1} please note
[14:06] {Threei} hey dave
06[14:06] * Chaeron slaps laserdave1 around a bit with a large trout
[14:06] {laserdave1} as far as overnights
[14:07] {laserdave1} we are not allowed to hold short any shares overnight
[14:07] {Threei} lol
[14:07] {laserdave1} sec rule
[14:07] {laserdave1} not sure for how long?
[14:07] {Threei} must be crazy to do it anyway
[14:07] {laserdave1} u will be pounded out
[14:07] {laserdave1} very true
[14:07] {laserdave1} btu out of some fluke i dont want someone pounded out in after hours with little market
[14:08] {laserdave1} ya holding is nuts
[14:08] {laserdave1} :)
06[14:08] * magoo slaps laserdave1 around a bit with a large trout
06[14:08] * magoo slaps laserdave1 around a bit with a large trout
06[14:08] * magoo slaps laserdave1 around a bit with a large trout
[14:08] {magoo} pound that'
[14:08] {Chaeron} roflol
[14:09] {Threei} US HOUSE HAS REPORTEDLY SENT A BILL TO THE SENATE THAT WOULD PLACE LIMITS ON OIL POSITIONS FUTURES
[14:09] {Threei} - Note the White House threatened to veto the commodity trading bill earlier today{USO}
[14:09] {Threei} NY AG CUOMO: TO INVESTIGATE SHORT SELLING AT LEHMAN AND AIG, INCLUDING THE "SPREADING OF FALSE INFORMATION"
[14:09] {Threei} - says fully committed to prosecuting wrongdoers
[14:09] {Threei} - wants SEC to freeze short selling of financial stocks{AIG LEH}
[14:10] {Threei} investiagte the imbecil who published false news on UAUA while you at it
[14:15] {judijim} take care for today we're done. It's been great watching and learning in the trading room
[14:15] {Threei} take care jj, have fun and good luck
[14:15] {judijim} tomorrow will be our last day but staying plugged into scanner. Be back tomorrow
[14:16] {dino} cya jj
[14:17] {magoo} bye jj:)
[14:21] {dino} hmmm only 265 pt range today
[14:21] {dino} 365
06[14:24] * laserdave1 slaps Threei around a bit with a large trout
[14:24] {Threei} hmmm
[14:24] {Threei} what was that for
[14:26] {laserdave1} ummm cuz i think your really cool dood
[14:26] {magoo} u see my assault upon u?
[14:28] {dino} sm risky l stt .60
[14:30] {dino} stop is .19 things' like pulp
[14:31] {magoo} pulp can move baby
[14:33] {peterg} makes my guts pulp
[14:33] {peterg} just watching
[14:34] {dino} stopped
[14:34] {peterg} brave soul
[14:35] {dino} wynn
[14:35] {dino} lol
[14:36] {dino} ilmn stopped -.50 sm
[14:49] {Threei} US SEN SCHUMER WILL REPORTEDLY ANNOUNCE AN RTC-LIKE PLAN TO CALM MARKETS IN THE FINANCIAL SECTOR
[14:50] {Threei} RTC-like?
[14:53] {dino} resolution trust corp, what saved the savings and loan in the 80s
[14:54] {Threei} what does it involve
[14:55] {dino} gov't corp, picks up the bad loans on properties, then sells them out
[14:55] {dino} off banks balance sheets
[14:55] {Threei} got it
[14:56] {Threei} sounds like positive for banks
[14:56] {Threei} why new wave of seling hits :)
[14:56] {dino} it would be positive, imo
[14:57] {Threei} yes GS is dropping, SKF is spiking
[14:57] {dino} as for selling, who knows
[14:57] {Threei} yes = yet
[14:57] {Threei} market is scared out of its mind
[14:57] {Threei} doesn't know who to listen to
[15:00] {dino} stt spike
[15:00] {dino} v sm l .
[15:02] {magoo} jesus..up 195 now
[15:02] {dino} out 47.50 +2.00
[15:02] {dino} way soon
[15:02] {Threei} CNBC'S GASPARINO: TREASURY SEC PAULSON EVALUATING AN RTC TYPE SOLUTION IN ADDITION TO US SEN SCHUMER
[15:02] {Threei} {XLF}
[15:02] {dino} 47.67, +2.17
[15:03] {Threei} wow
[15:03] {Threei} nmow market is liking it
[15:05] {dino} ok 400 pt range now patience
[15:06] {dino} sm l v .02
[15:07] {dino} wynn wow
[15:12] {dino} v stop to .64
[15:13] {magoo} MAN
[15:13] {magoo} vad pick something ANYTHINGGGGGGGGGGGGGG
[15:13] {dino} make v .82
[15:13] {Threei} mags they move so fast and change so suddenly, calls are useless
[15:14] {magoo} i know..i just hit aapl but could never call it in time
[15:14] {magoo} just funnin with ya
[15:14] {Threei} SKF is playable off GS if you can keep one eye on one and second on another
[15:17] {dino} out v 65.52 +1.50
[15:18] {dino} wow, i just turned a flat day to up nicely
[15:18] {Threei} :)
[15:21] {dino} and on that note, calling it a day. son's last baseball game of year at 4:00
[15:21] {Threei} take care dino :)
[15:22] {dino} u2 all
[15:22] {Threei} CNBC HAS SPOKEN TO THE WHITE HOUSE AND RECEIVED NO COMMENT WITH REGARDS TO AN RTC TYPE SOLUTION
[15:22] {dino} down we go, lol
[15:23] {Threei} US TREASURY REPORTEDLY DECLINES COMMENT ON WHETHER PAULSON IS CURRENTLY IN DISCUSSIONS WITH CONGRESS REGARDING AN RTC STYLE SOLUTION
[15:28] {cosmo} RTC raly?
[15:36] {Threei} seasickness
[15:40] {magoo} on helluva range on GS today
[15:40] {Threei} gosh, look SKF range
[15:41] {Threei} 45 points?
[15:48] {patience} what a ride today
[15:48] {Threei} another day with no precedent in my memroy
[15:49] {cosmo} that bad?
[15:50] {magoo} cant lose the feeling that i should have made alot more money than i did today
[15:50] {patience} not a level playing field magoo...they keep changing the rules
[15:50] {magoo} 20 point aapl range
[15:51] {Threei} yes cosmo... takes 3-5 minutes in the morning to remember my name
[15:53] {cosmo} if i cant remember, it wasnt important...
[15:53] {Threei} that's how I console myself
[15:53] {Threei} if I remember I need consolation
[15:54] {cosmo} or a hitman...
[15:56] {magoo} dave..we allowed to short afterhours??
06[15:56] * magoo slaps laserdave1 around a bit with a large trout
06[15:56] * magoo slaps laserdave1 around a bit with a large trout
[15:56] {magoo} [15:56] {magoo} dave..we allowed to short afterhours??
[15:56] {magoo} [15:56] * magoo slap
[15:57] {peterg} good question
[15:57] {magoo} LASERDAVE
[15:57] {Threei} realize that if market gets thin and you don't cover in time, your position will be closed at some point at market
[15:58] {Threei} that's your risk
[15:58] {magoo} well, need to know if u only need to close out before 6 p.m
06[15:59] * Threei slaps laserdave1 around a bit with a large trout
[15:59] {magoo} LASERDAVE
[16:00] {Threei} Ok guys, thank you all
[16:00] {Threei} have a good evening
[16:00] {Threei} see you tomorrow for more excitement
[16:00] {magoo} u 2 vad
[16:00] {peterg} bye all