Two sizeable plays covered a few small stops and made the day positive: RIMM long early in the day and CAT short that took a few hours to develop. Nothing outstanding but positive is positive. This selling is probably far from over, so might just as well get used to being very conservative in expectations.

Session Time: Mon Feb 23 00:00:00 2009

[07:36] {nemo} Only you and me Vad...maybe only me...

[08:00] {magoo} morning

[08:01] {nemo} Hi Mags...

[08:02] {magoo} captjn nemo:)

[08:04] {nemo} another 7 1/2 months until hunting season

[08:04] {magoo} some yrs i do spring bear

[08:05] {nemo} I only hunt what I eat...bear isn't one of my favorites

[08:05] {nemo} wish we had caribou around here...meat is great

[08:07] {magoo} wonder where everyone is?

[08:08] {nemo} Yeah...I was thinking the same thing...not usually this dead on a monday...the German contingent just showed up

[08:08] {nemo} Tag herrn K...warum so spaet?

[08:09] {KSystems} morning :)

[08:19] {Threei}  Good morning

[08:20] {nemo} Grand Poobah :)

[08:23] {Threei}  BAC and C are happy

[08:23] {Threei}  well, if these prices an be called happiness at all

[08:23] {nemo} twice is twice

[08:24] {nemo} fas decided to take off

[08:24] {Threei}  NCX

[08:24] {Threei}  IPIC ENTERED AGREEMENT FOR ALL CASH ACQUISITION AT $6/SHR

[08:27] {Threei}  (US) US TREASURY AND FEDERAL RESERVE INTEND TO BEGIN STRESS TESTING ON FEB 25, JOINTLY STATE THAT THE US GOVT STANDS FIRMLY BEHIND THE BANKING SYSTEM

[08:27] {Threei}  - State that US banks remain well capitalized, regulators determined to preserve the viability of "systemically important financial institutions."

[08:27] {Threei}  - Banks that are found to require more capital can turn to private sources first and the govt second.

[08:27] {Threei}  - Notes that banks should remain in private hands.

[08:28] {Threei}  - US capital would be coverted into common equity only as needed.

[08:28] {Threei}  - Statement makes no mention of particular banking institutions.

[08:28] {Threei}  - Reminder: On 2/22 the NYT reported that the US government's stress tests for the 20 largest banks are expected to begin this week and take several weeks. The stress tests will use computer run "what if" situations to estimate what would happen to each bank under Depression like conditions, with unemployment rising to 10-12% or home prices declining 20% further

[08:28] {nemo} They need a stress test for that?

[08:37] {Threei}  PALM

[08:37] {Threei}  HEARING SHARES RAISED TO BUY FROM HOLD AT DEUTSCHE BANK, PRICE TARGET $10

[08:37] {Threei}  where did all the doom and gloom of the last week go

[08:38] {cujo} good morning

[08:38] {Threei}  cujo :)

[08:38] {nemo} market's are bi-polar manic depressive

[08:38] {larisa} good morning :)

[08:38] {nemo} Larisa :)

[08:39] {Threei}  larisa :)

[08:39] {larisa} nemo, threei :)

[08:41] {Threei}  BAC and FAS are above Fri high

[08:48] {magoo} vad..any news RIMM AASPL?

[08:48] {magoo} AAPL

[08:51] {Threei}  no

[08:52] {nemo} C&H on FAS?

[08:53] {Threei}  so far just a cup, and not complete

[08:54] {nemo} I see cup 7:10 to 8:20 and handle between 8:20 to now

[08:56] {Threei}  my chart starts at 8

[08:57] {nemo} just sent it email

[08:58] {Threei}  yeah

[08:58] {Threei}  without normal and with limited particpation that early, patterns are less reliablevolume premarket

[08:58] {nemo} thought you might say that...discretion is the better part of valor

[08:59] {nemo} Having said that...FAS has traded almost 2 million this morning

[09:00] {Onix} gm all

[09:00] {Threei}  Onix :)

[09:05] {Threei}  (US) SENATE MAJORITY LEADER REID (D): NO NEED TO TALK ABOUT BANK NATIONALIZATION

[09:05] {Threei}  ummm

[09:05] {Threei}  no need to do it? Or no need to talk?

[09:05] {cosmo} i didn't know they wer gonna do that..

[09:06] {cosmo} .... 'talk'

[09:07] {Threei}  lol

[09:09] {dino} gm all

[09:09] {Threei}  dino :)

[09:14] {cosmo} DRYS up

[09:14] {pita} gm all ye seekers of truth, justice .......  and money!

[09:15] {Threei}  pita :)

[09:15] {buyemsellem} eh, just money

[09:15] {buyemsellem} gm

[09:15] {Threei}  byem :)

[09:16] {Threei}  08:17am Baltic Dry Bulk Index -0.7%, first decline in 5 days

[09:16] {Threei}  BAC sharp drop

[09:16] {Threei}  that;s probably how they are going to tarde near temr

[09:16] {cujo} Vad, any thoughts on a 40 RIMM break?

[09:16] {Threei}  each word about nationalisation is going to send them up and dow

[09:17] {Threei}  I'd refrain from it for now

[09:17] {Threei}  see, none of them trades on their own at this moment,

[09:17] {Threei}  they all react on banking sector

[09:17] {Threei}  and banking sector rects on every word from high above

[09:17] {cujo} got it.  following the banks.

[09:18] {Threei}  rather, following the market which follows the banks

[09:18] {fernp} Hello everybody

[09:18] {Threei}  fern :)

[09:18] {Threei}  that's important distinction

[09:18] {cujo} got ya. 

[09:18] {Threei}  because at some point market will again disconnect from financials

[09:18] {Threei}  to a degree at least

[09:19] {Threei}  and because this additional link inserted means reaction is a bit muted

[09:19] {Threei}  possibly delayed

[09:20] {Threei}  while market is focused on financials, it's about general flow of the money in the market,

[09:20] {Threei}  but when market starts compartmentalizing financials, it's going to be about redistribution between sectors

[09:24] {Threei}  keeping an eye on PLD

[09:25] {Threei}  nice daily

[09:25] {Threei}  with any market help has a chance for a serious move

[09:32] {Threei} Long Setup:  PLD  7.10 break

[09:32] {ese} now I know how dino feels....god morning

[09:32] {Threei}  ese :)

[09:32] {Threei}  6.95 invalidating

[09:34] {ese} L uaua .04

[09:34] {Threei} Long Setup:  DRYS  4.26

[09:34] {Threei}  stop under .15

[09:34] {Threei}  PLD invalidated as break

[09:35] {ese} crap no i'm not....sorry  it didn't my order

[09:35] {ese} thought i was in

[09:35] {cujo} in DRYS .27

[09:35] {ese} bstop  uaua.20 1/2

[09:36] {ese} L uaua.22

[09:36] {Threei}  let's trail DRYS stop under .20

[09:38] {Threei}  wow UAUA

[09:38] {Threei}  nice find ese

[09:38] {Threei}  06:09am [UAUA] BofA/Merrill Lynch Raised UAUA to Buy from Neutral, price target: $10

[09:38] {ese} out uauaworkin well

[09:39] {ese} i'm not out....weird morning

[09:39] {ese} now i'm out  uaua  .42 +.20 on a 1/2

[09:43] {Threei}  CECO looks heroic again

[09:43] {cujo} stopped

[09:43] {Threei}  out DRYS

[09:44] {Onix} stopped

[09:44] {nemo} Monday morning :(

[09:45] {Threei}  OPEL UNIT: FEBRUARY HAS BEEN BEST MEET MONTH IN 5-YRS FOR VEHICLE ORDERS

[09:48] {Threei} Long Setup:  RIMM  .50 if stays above .30

[09:49] {nemo} invalimadated?

[09:49] {Threei}  for now

[09:50] {nemo} Turned int a "hurry up and wait" open

[09:50] {Threei}  serious selling on AAPL

[09:50] {nemo} Jobs must be dying

[09:51] {dino}   watching vz, mcd

[09:51] {dino} lphi too

[09:52] {wulff} you like USO here

[09:52] {wulff} ?

[09:52] {Threei}  .60 break, could be

[09:53] {dino} asewi

[09:53] {Threei}  just keep it small, USO can be incredibly volatile

[09:53] {dino} asei i mean

[09:54] {wulff} invalid

[09:55] {Threei} Long Setup:  HIG  .50 break if stays above .35

[09:56] {dino} mco

[09:57] {nemo} why .35?

[09:57] {nemo} support last 15 min

[09:57] {dino} vz sm l .70

[09:59] {ese} ya whats up with that AAPL

[10:00] {Threei}  where did all the premarket giddiness go

[10:00] {wulff} more sellers than buyers

[10:00] {nemo} wullf is going for your title vad...

[10:00] {Threei}  wulff... careful... you are venturing on my territory

[10:01] {wulff} learning from the master

[10:01] {Threei}  I will fight for my title of Captian Obvious tooth and nail

[10:01] {wulff} I have only one tooth, but its sharp

[10:01] {ese} RMBS

[10:02] {Threei}  RMBS RECEIVE POSITIVE RULING IN SUPREME COURTON ROYALTIES, REJECTING FTC RULING

[10:02] {Threei}  REJECTING FTC ATTEMPT TO LIMIT RAMBUS ROYALTIES

[10:03] {wulff} WFC pullback

[10:03] {ese} l rmbs 1/2 .77

[10:04] {dino} es, asei?

[10:04] {dino} 65ish?

[10:05] {dino} last time dji was up over 100, was 02/06

[10:05] {nemo} makin' any predictions dino?

[10:06] {ese} that has potential dino

[10:06] {dino} yeah, in 15 weeks we are at zero on dji, ndx, s/p. start over

[10:10] {ese} out rmbs ..98 +.22

[10:10] {Threei}  RIMM half lot long on pullback into 39, with stop under 38.90

[10:11] {Threei}  good one ese, looked quite nervous

[10:11] {fernp} gj ese

[10:11] {ese} that might have been a little to volitaile for my liking.....worked out but was in too soon

[10:11] {dino} ndx trying to catch up to s/p drop last week

[10:11] {dino} gj es

[10:11] {ese} tks

[10:12] {ese} asei.......man  where to get in is the question

[10:12] {ese} thin thin thin

[10:12] {dino} spready too

[10:12] {dino} needs retest, to see if holds imo

[10:13] {nemo} market slowly dying too

[10:13] {dino} in bear markets, we wait

[10:13] {ese} ya .20 spread most times

[10:13] {dino} mco quite the 3 day beating

[10:13] {nemo} RIMM retesting bottom?

[10:14] {dino} dk

[10:15] {dino} asei lod

[10:15] {nemo} g'nite FAS

[10:17] {Threei}  half out RIMM

[10:17] {Threei}  scalpers take profit

[10:18] {ese} volume really thin on most stocks.....hence the volitility.....man there ain't nothin left to sell on alot of the stuff i follow

[10:18] {dino} asei sm l .21 risky

[10:18] {Threei} Long Setup:  HIG  .81

[10:19] {Threei}  stop .73

[10:19] {Threei}  out RIMM in full

[10:19] {ese} csiq usually a couple of mil by this time not even 170 thou.....no wonder it's being tanked

[10:20] {Threei}  if missed HIG first time, here is second chance

[10:20] {Threei}  gave .80 entry

[10:20] {Threei}  sold RIMM too soon eh

[10:21] {magoo} out rim .74 TY boss

[10:21] {Threei}  nice patience mags

[10:21] {buyemsellem} out .70 rimm

[10:21] {Threei}  wtg guys

[10:22] {Threei}  PPD

[10:22] {Threei}  BARRY MINKOW'S FRAUD DISCOVERY INSTITUTE OUT WITH A NEGATIVE REPORT TITLED "PONZI PLUS PYRAMID EQUALS PRE PAID LEGAL" (TIMING UNCERTAIN)

[10:23] {Threei}  half out HIG

[10:23] {Threei}  scalpers take profit

[10:24] {ese} was tath 67.21 dino?

[10:24] {ese} aesi

[10:25] {dino} y

[10:25] {dino} having trouble getting out of it w/spread

[10:26] {wulff} WFC waiting, tight entry

[10:27] {Threei}  what are you trying to do with it wulff?

[10:28] {wulff} Long on 12 break

[10:29] {Threei}  HIG balance stop to under .80

[10:31] {Threei}  out HIG balance

[10:34] {Threei}  US PRESIDENT OBAMA: US GOVT TO DISSEMINATE APPROX $15B TO STATES TO ASSIST WITH MEDICAID

[10:36] {dino} medicaid=afam, amed i thinl

[10:36] {dino} asei stopped, broken

[10:37] {Threei}  market resumes that dreadful slow slide

[10:37] {Threei}  watching CAT klittle bounce to define the resistance for a stop placement,

[10:38] {Threei}  short .05 breakdown is the idea

[10:38] {Threei}  PRESIDENT OBAMA NAMES EARL DEVANEY AS OVERSEER FOR STIMULUS FUNDS

[10:39] {Threei}  26.02 and 26.03 support from last couple dayts

[10:39] {Threei}  if losing 26, and market continues this drift down, this is bottomless

[10:39] {nemo} making a call MOTO?

[10:39] {Threei}  not a scalp trade for me

[10:40] {cujo} stop?

[10:40] {cujo} on the CAT?

[10:40] {Threei}  above .15 or .20

[10:40] {Threei}  hard to tell which is better

[10:40] {Threei}  both are valid

[10:43] {Threei}  come on kitty kitty

[10:43] {Threei}  lose that 26

[10:45] {Threei} Short Setup: HIG  .50 breakdown half lot

[10:45] {Threei}  stop above .65

[10:47] {dino} asei hits low 65s original gut feel was right

[10:51] {nemo} Well Vad, that's what you get for talkin' nice to the kitty.  Your compassion for your houseguest got you this time

[10:51] {nemo} FD:  I was cat sitting for 4 of them last week

[10:52] {Threei}  didn't get me yet

[10:52] {cujo} mom, kitty bein a di*do...

[10:52] {cujo} any southpark fans out there...?

[10:52] {wulff} si

[10:52] {nemo} kept .20 stop...no southpark for me

[10:52] {Threei}  and if you are uneasy with it, just cover here for a negligible stop

[10:54] {Threei} Long Setup:  RIMM  .75

[10:54] {Threei}  stop will be defined by this pullback

[10:54] {Threei}  want it to be under .60

[10:56] {nemo} lookin' for C&H on RIMM?

[10:56] {Threei}  yes

[10:56] {nemo} ty

[10:56] {nemo} kick cat vad

06[10:57] * nemo hold's cat's head under water

[10:58] {Threei}  RIMM invalidated

06[10:59] * nemo watches air gurgle from CAT's throat

[11:01] {Threei}  amazing how many setups don't trigger today

[11:01] {nemo} How many lives CAT got Vad:

[11:02] {nemo} Think the magoo maneuver worth a try?

[11:02] {dino}  obama's daily speech

[11:02] {magoo} ego-maniac]

[11:03] {nemo} It's part of the job description Mags

[11:03] {nemo} Funny, now CAT's got a double bottom so long??? oy weh

[11:08] {cujo} down kitty kitty

06[11:09] * cujo slaps CAT around a bit with a dead fish

[11:12] {dino} cnbc bragging that c is up 10%, whoopie, .18

[11:13] {Threei}  lol

[11:13] {ese} quiet buying goin on thought TICK +331 TRIN .61.....good market internals

[11:16] {Threei}  CA) CANADIAN PM HARPER: UNCLEAR HOW RECESSIONS WILL END UNTIL THE WORLD FIXES PROBLEMS IN FINANCIAL SECTOR

[11:16] {Threei}  hmmm

[11:16] {cujo} u giving up the title?

[11:16] {Threei}  I like the guy but really, do I need more competition?

[11:16] {nemo} I wouldn't call him competition

[11:16] {nemo} He couldn't hold a blowtorch to you

[11:17] {Threei}  this statement by him shows the potential

[11:18] {nemo} Yeah, but he has speech writers.  Do you think he thought it up?

[11:18] {nemo} You're the real deal

[11:19] {dino} asei big move off lows, may be worth another try

[11:19] {dino} strange day for a monday

[11:20] {Threei}  yeah

[11:25] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=akL0whi55dwc

[11:29] {Threei}  yawn

[11:30] {dino} ditto

[11:31] {Threei}  ok CAT

[11:31] {dino} watching mcd, asei for 65ish, mco , and lphi fwiw

[11:31] {Threei}  show us what you are capable of

[11:34] {Threei}  fairtly long consolidation under .15... I guess we can trail stop to .16 now

[11:35] {Threei}  next leg down should take us into 1:1

[11:49] {Threei}  okay... CAT is over 1:1

[11:49] {Threei}  half out .83

[11:49] {Threei}  stop to above b/e

[11:54] {Threei}  planning to cover 1/4 more somewhere closer to .50

[11:54] {Threei}  and see if I can get closer to 25 on the last portion

[11:55] {Threei}  you all fell asleep or there isd anyone breathing still?

[11:55] {cujo} i'm still in

[11:55] {cujo} but yes, fell asleep for a sec

[11:55] {Threei}  covered part?

[11:55] {cujo} yes 2/3

[11:55] {cujo} still live on 1/3

[11:55] {cujo} limit order in at .50

[11:56] {wulff} still in

[11:58] {cujo} you think stop at .88 safe or too close Vad?

[11:59] {Threei}  .91 seems more logical

[11:59] {cujo} ok

[12:01] {Threei}  new low

[12:01] {Threei}  slowly but surely

[12:02] {Threei}  accelerates

[12:02] {Threei}  BAC

[12:02] {Threei}  NY AG FILES MOTION SEEKING THAIN TESTIMONY ON MERRILL BONUSES; AG SAYS BOA INSTRUCTED HIM NOT TO ANSWER

[12:03] {Threei}  lol... CNN headline:

[12:03] {Threei}  president tackles the economy

[12:04] {Threei}  meaning, if he is successful in tackling it, it tumbles down, right?

[12:06] {dino} cnbc. bac up 11%, another whoopie, +.20

[12:06] {Threei}  lol

[12:08] {dino} govt' 40% of c, like thats not nationalization

[12:08] {dino} another 10%+ is coming boys and girls

[12:08] {Threei}  covered 1/4 more CAT

[12:08] {Threei}  +.45

[12:09] {dino} they are wasting our tax money. the fdic is there on the depositors, sieze it and get it over with

[12:09] {dino} ok, my daily rant is over

[12:09] {Threei}  oops

[12:09] {Threei}  I just wanted to join in

[12:18] {wulff} my wife asked me the other day if I was shorting stocks.

[12:18] {wulff} I told her, ummmm, yes.

[12:18] {wulff} She yelled at me for getting some TARP money! 

[12:19] {wulff} LOL

[12:19] {nemo} get rid of her

[12:20] {dino} ironically, the govt would have been better off spending that tarp money on puts

[12:20] {Threei}  lol

[12:20] {nemo} Yeah, but then they would have had to pay capital gains

[12:20] {dino} wou;d have made about 350 billion\

[12:21] {nemo} somebody would have bitched

[12:21] {dino} of course, politically that is "evil"

[12:22] {dino} i have to say, a year ago i never thought we would see 7200s again

[12:25] {Threei}  tide seems to turn

[12:26] {Threei} Long Setup:  RIMM  .05

[12:27] {Threei}  just aa scalp

[12:27] {Threei}  stop under .95

[12:29] {Threei}  no go

[12:30] {dino} obama speecg at 1:00 agaiin

[12:30] {nemo} RIMM bounce candidate 

[12:30] {Threei}  oh boy... what about this time?

[12:30] {nemo} huh?

[12:30] {dino} fiscal something or other

[12:31] {nemo} Ooohhhhhhh

[12:31] {nemo} deficits?  Stimulus? responsibility?  what?

[12:32] {wulff} basketball

[12:32] {nemo} he's giving a speech on basketball?

[12:32] {Threei}  trailing stop to .85 CAT

[12:33] {dino} another lecture i suppose

[12:37] {Threei}  PREVIEW: ATLANTA FED PRESIDENT DENNIS LOCKHART IS SCHEDULED TO SPEAK ON THE US ECONOMY BEGINNING AT 12:40PMET

[12:37] {Threei}  - audience Q&A is expected

[12:37] {Threei}  - reminder: last week Lockhart said recession will most likely continue through the first half of 2009; modest recovery is possible in second half of 2009, but any recovery faces numerous headwinds

[12:38] {Threei}  - Lower mortgage rates are aiding housing, although housing is still burdened by excess inventory.

[12:38] {Threei}  - Financial sector remains troubled, but there are modest signals that the sector is improving a bit.

[12:46] {Threei}  with all Picken's appearances on TV today, CLNE looks quite crappy

[12:48] {Threei}  dies already CAT

[12:48] {Threei}  -s

[12:48] {Threei}  stp can be trailed to .81

[12:49] {Threei}  not that it matters much vs .85... just playing by the book

[12:50] {Threei}  from pure theoretical point of view... as far as I understand, this is the first time Keynes theory is going to be fully tested in real world

[12:50] {Threei}  fascinating

[12:54] {Threei}  .50 loss is coming on CAT

[12:55] {Threei}  will trail stop to .65 after that

[12:57] {Threei}  US) HOUSE SPEAKER PELOSI: HOPES TO BRING MORTGAGE CRAMDOWN TO THE FLOOR OF THE HOUSE ON THURSDAY

[13:00] {Threei}  here we go CAT

[13:00] {Threei}  stop to .65

[13:00] {Threei}  cujo, you covered all or still got some?

[13:01] {Threei}  I think I am lone here

[13:01] {Threei}  alone

[13:01] {wulff} cujo at CAT

[13:02] {wulff} I have half lot

[13:02] {fernp} here I am. Not in CAT but reading you :)

[13:02] {Threei}  okay... I was looking for an excuse to fall asleep till tomorrow

[13:02] {Threei}  but no, wulff and fern had to ruin it for me

[13:03] {dino} .

[13:03] {wulff} good kitty

[13:03] {Threei}  very

[13:05] {dptl} whew..powere is back...good morning all

[13:05] {Threei}  C

[13:05] {Threei}  CNBC'S GASPARINO: SOURCES INDICATE A DEAL WITH THE US GOVT MAY COME AS EARLY AS TODAY OR TOMMOROW; AMOUNT TO CLOSE TO $40B

[13:05] {Threei}  dp :)

[13:06] {wulff} covered. later

[13:06] {wulff} oh TY

[13:06] {Threei}  welcome

[13:06] {Threei}  you got about 50 cents on this one?

[13:10] {Threei}  FED'S LOCKHART: SEE VERY LOW RISK OF HYPERINFLATION, FED MORE CONCERNED ABOUT INFLATION BEING 'TOO LOW' - Q&A

[13:10] {nemo} That's funny...I'm watching prices go up on food, and clothing

[13:11] {Threei}  - Notes will be difficult for China to increase consumption quickly

[13:11] {Threei}  - "worried" about commercial real estate

[13:19] {cujo} Vad, grat call on CAT.  Was away from Comp for a sec.  Got about +.45

[13:19] {cujo} got out  a little earlier than you

[13:20] {Threei}  wtg cujo

[13:20] {Threei}  great trade

[13:20] {cujo} took some time but well worth it. 

[13:21] {nemo} This cram down thing...when was the last time contract law was broken on a large scale?

[13:21] {tomg} does anyone know how to create a sound alert for Vad's highlighted calls?

[13:22] {cujo} right click onhis name

[13:22] {cujo} go to info

[13:22] {cujo} then the highlight tab

[13:22] {cujo} create a rule with his name in it

03[13:22] * Looking up tomg user info...

[13:22] {nemo} right click on the "#floor" icon above.  Then turn on "Beeping"

[13:22] {cujo} but will sound every time Vad says something

[13:23] {cujo} not just for calls...

[13:23] {Threei}  wow... they hid it well

[13:23] {Threei}  wouldn't even think to look for it in there

[13:23] {nemo} Yeah, it'll be ringing in your ear all day.  We need to create the sound effect of Vad patting himself on the back.

[13:24] {nemo} whoa...didn't realize what that was

[13:24] {tomg} ty, i was hoping there could be an alert for just the highlighted calls, for times when I'm away from the computer

[13:24] {dino} lol fiscal respojsibility speech. just doubled deficit and giving handouts all around

[13:24] {nemo} Vad will have to have a window just for calls

[13:25] {Threei}  tom

[13:25] {Threei}  what you can do is to set a sound for words

[13:25] {Threei}  long setup

[13:25] {Threei}  short setup

[13:26] {tomg} ah, ok, that might work

[13:26] {Threei}  won't work when I forget to use the script though

[13:29] {nemo} This must be what they talk about when they say private equity must help.  Either way, we pay...http://www.bloomberg.com/apps/news?pid=20601087&sid=aGqIiR1PCrq8

[13:30] {Threei}  PRESIDENT OBAMA REITERATES PLEDGE TO CUT DEFICIT IN HALF BY 2013, BUDGET TO BE SUBMITTED THIS WEEK WILL LOOK FORWARD 10 YEARS

[13:30] {Threei}  that's serious crystal ball they use in white house

[13:31] {nemo} crystal meth I think

[13:32] {Threei}  that was uncarachteristically brief

[13:33] {cujo} cheerleaders stayed home this time...

[13:33] {dino} this guy hurts the markets more than bush did

[13:44] {Threei}  done with CAT

[13:54] {nemo} Hello...am I back Magoo?

[13:54] {Threei} Long Setup:  UAUA  .5o break if stays above .45

[13:54] {magoo} 'yup

[14:00] {wulff} are you calling a break of the high of the day?

[14:00] {Threei}  invalidated

[14:02] {Threei}  if we get severe market selling, watching NVDA for short, .25 trigger

[14:03] {Threei}  invalidation above .35

[14:04] {nemo} full lot

[14:06] {wulff} UAUA!

[14:06] {wulff} stupid

[14:11] {Threei}  {UAUA} why are you calling me stupid

[14:16] {nemo} what just happened in financials?

[14:16] {magoo} any chance this mkt could close flat?

[14:17] {Threei}  easy

[14:17] {Threei}  just -130 down

[14:17] {Threei}  WHITE HOUSE PRESS SECRETARY REITERATES THAT THE ADMINISTRATION BELIEVES A PRIVATELY HELD BANKING SECTOR IS THE BEST WAY FORWARD

[14:18] {dino}   that is going to getb old fast

[14:18] {Threei}  exactly

[14:18] {Threei}  notice also this smooth way to avoid direct answer

[14:19] {Threei}  there is always a room left for "we don't want to but we have to"

[14:19] {Threei}  ADMINISTRATION BELIEVES A PRIVATELY HELD BANKING SYSTEM REGULATED BY THE FED IS THE BEST WAY FORWARD

[14:19] {Threei}  regulated by the Fed, eh

[14:19] {cujo} ugh

[14:19] {cujo} that sounds fun

[14:19] {cujo} will be buying gold

[14:20] {Threei}  all of it?

[14:20] {cujo} ha, yes.  every last piece.  

[14:20] {Threei}  - asked about Citigroup, says will not comment on individual banks

[14:30] {magoo} vad..what spike we need to bring in fliuppers to long side?

[14:30] {dino} tequilla type

[14:31] {cujo} did someone say tequilla...?

[14:31] {nemo} Who gets the worm?

[14:31] {cujo} tequila doesn't have worm..  

[14:31] {nemo} Yeah, one of them does

[14:32] {Threei}  can't answer like this mags

[14:32] {cujo} mezcal is the one that has the worm

[14:32] {nemo} or did.  I haven't spoken with Tequilla in years.  Me and Jack Daniels haven't spoken since college

[14:32] {Threei}  we need something more substantial than "we don't want to nationalize the banks"

[14:32] {Threei}  this is bs

[14:32] {nemo} Welcome to politics

[14:32] {Threei}  and all spikes on these statements will get faded

[14:33] {Threei}  AIG

[14:33] {Threei}  REPORTEDLY IN DISCUSSIONS WITH GOVT FOR ADDITIONAL FUNDS - CNBC

[14:33] {cujo} diff type of drink, kinda like tequila though...

[14:33] {Threei}  my feeling is,

[14:33] {dino} they do not have a plan, that is the problem. the easy way out was m2m reform based on cash flows....they said no to it

[14:33] {Threei}  until market hears something of substance from these guys

[14:34] {Threei}  and decides it likes it,

[14:34] {Threei}  no rally will be sustainable

[14:34] {dino} aig, now what are we up to 120 billion or so

[14:34] {Threei}  that's what market hates dino, I agree

[14:34] {Threei}  no plan,

[14:34] {Threei}  no details,

[14:34] {Threei}  no hint that they know what they are doing,

[14:34] {Threei}  markert sees a bunch of scared kids

[14:34] {dino} they don''t want to let the system fix itself

[14:35] {Threei}  who throw spagettin at the wall and watch if anything sticks

[14:36] {dino} you must accept the pain or it will last much longer and cost much more. already citi is at something like 80 billion, when does this nonsense end? in every other business the stockholders get wiped out

[14:36] {Threei}  when techs crashed in 2000,

[14:36] {Threei}  how come no bailouts were even contemlated?

[14:37] {Threei}  no one even thought of saving any of them

[14:37] {Threei}  and more importantly,

[14:37] {Threei}  if they tried,

[14:37] {Threei}  would any of those "rescued" companies survive anyway?

[14:37] {dino} nope

[14:37] {Threei}  seems to be painfully obvious that they wouldn't

[14:38] {Threei}  I don't see how this is principally different

[14:38] {Threei}  throw whatever money you want at them,

[14:38] {Threei}  if they are insolvent, they are insolvent

[14:38] {Threei}  toxic assets are not going anywhere

[14:38] {cujo} well, to be devils advocate, our economy didn't depend on a lot of the .coms making it through the crash.  

[14:38] {dino} well, some major newspaper just filed, whats the difference.

[14:38] {Threei}  no, not to such degree

[14:39] {Threei}  but the point is,

[14:39] {Threei}  these measures can't save them anyway, just as they wouldn't save techs

[14:39] {dino} also, look now they talk of bankruptcy loans for gm, after wasting 30+ billion

[14:39] {cujo} yeah, good money on bad. 

[14:39] {Threei}  so, we are going in the direction of inevitable crash for them anyway,

[14:40] {Threei}  only we burn incredible amount of money in the process

[14:40] {Threei}  and the worse yet,

[14:40] {dino} you get the carrot

[14:40] {Threei}  we are reworking the very fabric of the society and psychology of ther public

[14:41] {Threei}  What was it that undermined the economic structure of the Soviet Union?

[14:41] {Threei}  absence of motivation to work

[14:41] {dino} if it wasn't an election year in sept. when this all started, they would have went into bankruptcy before throwing all the hundreds of billions around

[14:41] {Threei}  system where better work was not better rewarded,

[14:41] {cujo} like unions in the US...

[14:41] {Threei}  laziness was not punished

[14:42] {Threei}  so people pretended they worked while state pretended it paid

[14:42] {nemo} which was the famous saying

[14:43] {Threei}  my rant for the day is over

[14:43] {cujo} i can take over if you want...

[14:43] {Threei}  comrade magoo has the tribune

[14:43] {Threei}  or comrade cujo

[14:43] {nemo} You moved here just to go through it all over again

[14:44] {Threei}  no kidding, lol

[14:44] {Threei}  what's next, Antarctica?

[14:44] {cujo} COMMUNISM: You have two cows. The government takes both and gives you spoiled milk.

[14:44] {dino} lol

[14:44] {dawg} jeeeee...sus christ RIMM scalp in .35 out .47 still goin'

[14:44] {Threei}  if penguins start building socialism, what do I do next?

[14:45] {nemo} get a tux?

[14:47] {Threei}  TREASURY WILL BEGIN STRESS TESTS ON FEB 25 WITH "AN AGRESSIVE TIME TABLE" - CNBC'S LIESMAN

[14:48] {nemo} Folks, the trader tax has been inserted in the Universal Health Care Bill

[14:48] {Threei}  dawg... careful with RIMM scalps on a ,long side

[14:49] {Threei}  looks like we are headed for the crash

[14:49] {dawg} OK thanks Vad done for now

[14:49] {Threei}  US SENATOR LEVIN: PLANS TO INTRODUCE BILL TO TIGHTEN OVERSIGN OF PENTAGON WEAPONS PROGRAMS

[14:49] {Threei}  not saying they are impossible, just keep size to a min

[14:50] {Threei}  and let it slide farther than you normally would before trying entry

[14:50] {dawg} thanks Vad 

[14:54] {Threei}  see what I mean?

[14:54] {Threei}  straight down through the day low, no slightest attempt to bounce

[14:54] {Threei}  normally you would try to get in around .15

[14:55] {Threei}  in this case you'd better wait for another 10-15 cents down

[14:55] {Threei}  and even that ws what, 10 centss bounce

[14:55] {dawg} k

[15:00] {fernp} NVDA short w/stop above .36?

[15:00] {Threei}  with next wave of market selling, worth a try

[15:12] {cujo} ss CAT .30

[15:12] {cujo} stop at .46

[15:12] {nemo} CAT's going up

[15:12] {cujo} thanks...

[15:13] {cujo} stpd

[15:13] {cujo} ugh

[15:14] {cujo} stpd = stopped

[15:21] {Threei}  reletnless

[15:24] {nemo} CALLING THE PPT!!!!

[15:26] {dino}  ugly days

[15:26] {larisa} Paulson starting to look good to me. At least he treid to explain things :)

[15:26] {Threei}  lol

[15:26] {Threei}  Terrific Tim is MIA

[15:27] {nemo} It's the end of the world as we know it...and Iiiiiii feeeeeelllll fine.....

[15:28] {dino} -14.4% dji since 02/09/09; -12% s/p; -12% ndx

[15:36] {Threei}  hey, at least we have consistency across the board

[15:36] {nemo} Yeah, Red is dead

[15:41] {nemo} So, Larisa,,,green today?

[15:41] {Threei}  lol

[15:41] {Threei}  -220

[15:41] {Threei}  am I ever so glad I am staying very conservative day after day

[15:41] {Threei}  a few small stops, nice winst on RIMM and CAT

[15:41] {Threei}  keep day positive

[15:42] {Threei}  nothing outstanding but hell

[15:43] {larisa} I forgot how green looks nemo :)

[15:43] {Threei}  ah come on, we had green Fri

[15:44] {nemo} Did we...so long ago

[15:44] {Threei}  you don't mean your meory span doesn't go that far, do you

[15:44] {nemo} vodka

[15:44] {dino} no green friday

[15:44] {Threei}  ok, on NASDAQ

[15:45] {dino} ok 

[15:45] {Threei}  :)

[15:45] {larisa} lol

[15:45] {nemo} friggin' optimists

[15:45] {Threei}  see how these "no nationalization" talks lose their power in a hurry?

[15:45] {Threei}  jawboning will get you just so far

06[15:45] * nemo slaps magoo around a bit with a large with a screaming alarm clock

[15:46] {Threei}  also... don't you think that we can safely dismiss conspiracies about giverment's ability to manipulate markets?

[15:47] {Threei}  I mean, if they really could... would we witness this murderous reaction on all latest dovt actions?

[15:47] {nemo} Wall Street's doin' it to get better prices :)

[15:47] {Threei}  uhhu

[15:47] {nemo} kidding

[15:47] {Threei}  I know

[15:47] {Threei}  I would write an article on manipulation

[15:48] {Threei}  but for some reason this topic invokes so much anger is conspirasy theorists

[15:48] {Threei}  is = in

[15:48] {larisa} Geithner will be silent until next year.. see if it affects the market :)

[15:48] {Threei}  I just don't want to waste my time on deleting angry posts

[15:48] {Threei}  yeah, maybe they meant it after all, eh

[15:48] {Threei}  when said next year

06[15:50] * Threei is bidding RIMM at $9

[15:50] {Threei}  who knows, maybe I'll get my fill this week

[15:50] {nemo} that mexican accent again

[15:51] {Threei}  no, that would be "pheel"

[15:51] {Threei}  or pheal

[15:51] {dino} turnaround tuesday coming up

[15:52] {Threei}  why?

[15:52] {nemo} turndown tuesday

[15:52] {dino} no other reason than "why not"

[15:52] {larisa} do not ask why, lets believe him :)

[15:52] {Threei}  oh

[15:52] {Threei}  I don't mind

[15:52] {Threei}  for a change I'd be glad to play long

[15:52] {cosmo} i believe

[15:52] {dino} 740 s/p nov lows

[15:52] {cosmo} :)

[15:53] {dino} ndx still 108 pts above

[15:53] {nemo} Actually, look at how many companies aren't at 52 week lows.  

[15:54] {Threei}  US TREASURY DECLINES COMMENT ON ADDITIONAL GOVT AID FOR AIG

[15:54] {Threei}  why?

[15:54] {nemo} We don't need to know

[15:54] {Threei}  and are not supposed to ask?

[15:54] {nemo} Yes comrade

[15:54] {nemo} to Dherzinski with you

[15:55] {dino} well, back to the 300 pt daily range

[15:56] {nemo} I hear Lubyanka has nice drapes

[15:56] {larisa} nemo, you are overeducated :)

[15:56] {Threei}  no kidding, lol

[15:56] {dptl} have a good evening all

[15:56] {nemo} Spend too much time with Ruskies

[15:56] {larisa} bye dp

[15:56] {Threei}  take care dp

[15:57] {dino} cya dp

[15:57] {nemo} That was a quiet 250 points down

[15:57] {Threei}  yeah

[15:57] {Threei}  no panic

[15:57] {Threei}  no huge volume

[15:58] {Threei}  no sharp selloff

[15:58] {Threei}  what does it tell us?

[15:58] {nemo} Yeah, nobody knows and it ain't worth guessin'

[15:58] {cosmo} no capit. yet

[15:58] {Threei}  yup... it's far from over

[15:58] {nemo} Great...

[15:59] {Threei}  orderly liquidiation

[15:59] {nemo} Parachutes and hemmrhoid pillows

[15:59] {Threei}  women and children first to the exit

[15:59] {Threei}  nothing to see here, move away

[15:59] {nemo} Nope...me first

[16:00] {Threei}  okay guys

[16:00] {Threei}  thank you all

[16:00] {nemo} Well Mr. Threei, how was the play?

[16:00] {Threei}  have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {larisa} later all

[16:00] {nemo} P&Q

[16:00] {vint} bye guys, see u all tomorrow

[16:00] {fernp} good evening all

Fri Feb 20 2009

Ending the week on a strong note, Not a single losing day which in and of itself is not a small feat when the markets are hurting like this. Short ADBE started us out, and the rest of the day was in tune - almost everything worked like charm.

Session Time: Fri Feb 20 00:00:00 2009

[08:24] {larisa} good morning :)

[08:25] {Threei}  Good morning larisa

[08:25] {larisa} threei :)

[08:30] {Threei}  JAN CONSUMER PRICE INDEX M/M: 0.3% V 0.3%E; CPI EX FOOD%ENERGY M/M: 0.2% V 0.1%E;

[08:30] {nemo} good morning...the futures look great?

[08:30] {Threei}  both, futures look and future looks

[08:31] {nemo} have no idea about future?

[08:31] {Threei}  why... I am pretty sure sun will rise tomorrow

[08:31] {magoo} mornink comrades

[08:32] {nemo} but will I?

[08:32] {Threei}  and I would venture as far as predict after tomorrow as well

[08:32] {Threei}  magoo :)

[08:33] {Threei}  magoo, it's a pleasure to watch you connecting these days... smoothly, with no kicks, screaming, falling, climbing back up...

[08:33] {magoo} roflol..i was jusdt thinking that..how enjhoyable its been

[08:34] {Threei}  took me just a month of begging you to ask KS for help with mirc

[08:34] {Threei}  no one can call you stubborn, can they

[08:35] {magoo} nope...looky dino..he hasnt got it correct yet...

[08:36] {Threei}  how about some brotherly love... paying it forward... helping him now that you got it

[08:36] {cujo} good morning

[08:36] {Threei}  cujo :)

[08:36] {cujo} is someone handing out money?

[08:36] {cujo} i want in... 

[08:37] {Threei}  white house does cujo... with congress

[08:37] {cujo} ahhhh, thought someone in the room might have won the lottery... 

[08:38] {Threei}  (HU) HUNGARIAN GOVT SPOKESMAN: PM PROPOSES TO REVISE LAW THAT WOULD ALLOW MARKET REGULATOR TO BAN SHORTING

[08:38] {magoo} cant do it vad lol...we dont work that way...brought up on negative reinforcemt

[08:38] {Threei}  yup, that'll help them

[08:38] {Threei}  mags, you sure I am not you third long lost brother?

[08:41] {Threei}  (FR) FRENCH EU MIN: HOPES THAT EU STATES WOULD AID ANY MEMBER IN FINANCIAL DISTRESS

[08:41] {magoo} mmy dad did take a misstress in the cold war days vad

[08:43] {Threei}  a lot of hectic news headlines from Europe

[08:44] {Threei}  GE under 10 again and looks comfortable staying there

[08:54] {magoo} see dino vad

[08:55] {Threei}  yup

[08:55] {Threei}  painful

[08:58] {hawkfan4} morning

[08:58] {Threei}  hawk :)

[09:00] {hawkfan4} end of days part whatever, i've lost count

[09:01] {magoo} we may be setting up for blaclk monday...this is getting badddddd

[09:01] {dino} or capitulation friday

[09:01] {hawkfan4} i thought that too when i first looked at the futes this morning, scary stuff

[09:01] {patience} its options expiry today isnt it

[09:01] {dino} rimm 40 area

[09:02] {hawkfan4} yes

[09:02] {Threei}  GLD nice gap over highs

[09:03] {Threei}  is gold knocking on 1000 or broket it already?

[09:04] {patience} knocking

[09:04] {patience} 997.4

[09:04] {dino} ge new lows

[09:05] {Threei}  FAS under 4.50

[09:06] {nemo} faz jumps 10 overnight

[09:07] {dino} ge market cap $100 billion, msft could almost buy them w/theirs' and gates' cash

[09:07] {fernp} Hello everybody

[09:07] {hawkfan4} VIX only at 47, high is 89

[09:07] {Threei}  fern :)

[09:07] {gen} gm everybody

[09:08] {Threei}  volatility is way lower than it used to be in Nov, hawk

[09:08] {Threei}  gen :)

[09:08] {gen} Vad :)

[09:09] {Onix} gm all

[09:09] {Threei}  onix :)

[09:10] {magoo} problem is...psychologically, mkt participants are not so worried about missing a turn anymore..as more afraid of a crash 

[09:11] {Threei}  so let's crash and get it over with

[09:11] {magoo} so a selloff can easily escalate..whereas a bounce most likely used as exits

[09:13] {Threei}  that's how real capitulatory selloffs are usually developing

[09:13] {Threei}  until masses just give up and flood all the channels with "just get me out so I could never hear about stock market again"

[09:14] {Threei}  TRMP

[09:14] {Threei}  GETS DELISTING NOTICE FROM NASDAQ; CO. DOES NOT INTEND TO APPEAL

[09:14] {Threei}  - Shares to be delisted from Feb 26, 2009

[09:14] {Threei}  - Reminder: 02/17 00:54:01 TRMP: TCU 2 unit and TRMP file for bankruptcy

[09:14] {dino} hmmm, what type of music today.....

[09:15] {dino} trump filed bankruptcy yesterday i think

[09:15] {dino} casino that is

[09:15] {Threei}  a few days ago, yeah

[09:15] {Threei}  third time

[09:18] {dino} t, vz upgraded at goldman

[09:20] {dptl} good morning all

[09:21] {Threei}  dp :)

[09:23] {magoo} shorts may cover today vad...because had big down wk and afraid of some weekend anncmt

[09:23] {Threei}  that's a valid assumption

[09:23] {Threei}  another, just as valid is,

[09:23] {Threei}  longs are going to run in panic

[09:23] {nemo} I can't imagine any announcement being good

[09:24] {nemo} but who wants to be caught in any position for any length of time

[09:25] {Threei}  (FR) FRENCH FIN MIN LAGARDE: CONSENSUS IS THAT LEADERS WILL NOT ALLOW ANOTHER 'LEHMAN-TYPE' EVENT TO OCCUR AGAIN

[09:25] {Threei}  okay guys

[09:25] {Threei}  plan is the same

[09:25] {Threei}  do not form opinions,

[09:26] {Threei}  stay careful, stay picky,

[09:26] {nemo} be one with the market

[09:26] {Threei}  let's wait for safe play to shape up,

[09:26] {wulff} wait, i think that...

[09:26] {Threei}  dismiss the anxiety of missing the play,

[09:26] {Threei}  let them go easily,

[09:27] {Threei}  wait for the one that priovides best odds but first and foremost, tight stop

[09:27] {magoo} coffee

[09:27] {Threei}  you know what our major advantage over most ot ofther market participants is, right?

[09:28] {cujo} what is that?

[09:28] {Threei}  ability to stay on a sideline

[09:28] {dino} relax

[09:28] {Threei}  unlike most of them who either have to be fully invested,

[09:28] {Threei}  or obliged to make market

[09:28] {cujo} yes, makes sense. 

[09:29] {Threei}  so take the full advantage of our advantage

[09:29] {Threei}  sit in the trenches and wait for weak anthelope

[09:29] {cujo} FAZ taking off

[09:30] {Threei}  watching ADBE with short idea in mind

[09:31] {Threei}  need it to stabilize and form a range

[09:31] {Threei}  .80 support so far

[09:31] {Threei}  hopefully it doesn't break it right away

[09:31] {Threei}  ugh

[09:32] {dino} damn, where did i put my 7000 dji hat

[09:33] {dino} esi +2

[09:33] {dino} edu took beating yesterday, watching esi, cpla, apol

[09:33] {larisa} PALM green :)

[09:34] {dino} dji, does not matter...eyes on ndx, s/p

[09:34] {Threei}  yesterday:

[09:34] {Threei}  Sprint reportedly has exclusive agreement to sell the PALM Pre through 2009 - unconfirmed report

[09:35] {Threei}  OK, here is ASDBE bounce

[09:35] {Threei}  ADBE

[09:35] {Threei}  let's see if we can time short entry

[09:36] {Threei}  not really, didn't form anything readable

[09:38] {Threei} Long Setup:  GLD  half lot .71 if stays above .50

[09:38] {hawkfan4} scalped GS from 83.09 to 83.97, whole trade took 40 seconds

[09:38] {Threei}  getting slow eh hawk

[09:39] {hawkfan4} lol

[09:39] {magoo} in gld

[09:39] {dino} rimm sm l .00

[09:39] {dino} wide

[09:39] {cujo} in

[09:40] {Threei}  that quick dive into .50 was aggressive entry opportunity... it's me who is getting slow

[09:40] {dino} t vz pos.

[09:40] {dino} positive

[09:41] {Threei}  let's trail stop to under .60

[09:41] {dino} apol rockin'

[09:41] {dino} esi too

[09:43] {ese} mornin

[09:43] {Threei}  ese :)

[09:43] {ese} esi that a a stock dino

[09:43] {dino} yes, itt edu

[09:44] {Threei}  come on already, you yellow shiny pos

[09:44] {dino} what happens to the 20 year bond if banks get nationalized? any effect?

[09:45] {nemo} talk nice to it

[09:45] {ese} have you checked out MORN dino

[09:45] {Threei}  no worky

[09:45] {cujo} stpd

[09:45] {ese} dn 3 bills

[09:46] {nemo} adbe

[09:47] {ese} tried 1/2 lot WBMD....didn't get a fill

[09:47] {ese} slow on the uptake thiws morning i quess

[09:47] {Threei}  who is in GLD, feel free to take full or half

[09:48] {Threei}  it trades too nervously here

[09:48] {Threei}  and went up right into dropping upper BB

[09:53] {dino} ndx flat

[09:53] {dino} c hits 1.902

[09:53] {fernp} ADBE breakdown?

[09:54] {Threei}  range is .55 - .75

06[09:54] * dino slaps ese around a bit with a large trout

[09:54] {dino} trying to wake you up

[09:54] {Threei}  not sure fern

[09:54] {Threei}  market doesn't want to sell off

[09:54] {Threei}  and ADBE won't crash without it

[09:55] {Threei}  it still looks like a good candidate

[09:55] {ese} tks i needed thaqt

[09:55] {Threei}  just trying to form the best way to play it

[09:56] {Threei}  ideally, if we get one more upward spike in the market, double top and selloff,

[09:56] {Threei}  and ADBE doesn't break uppoer limit of the range,

[09:56] {Threei}  that's the scenario to short it

[09:56] {fernp} ty 

[09:57] {Threei}  so far so goodf

[09:57] {Threei}  let's try .58 trigger

[09:57] {Threei}  if stays below .75

[09:57] {Threei}  and if market dives without making new high for the day

[09:58] {Threei}  if NQ drops sharply, grab ADBE aggressively

[10:03] {_redcat} qcom +.50

[10:04] {Threei}  (FR) REPORTEDLY FRENCH 2009 BUDGET DEFICIT APPROACHES 5% OF GDP

[10:04] {Threei}  wtg

[10:05] {magoo} 74 down

[10:05] {dptl} adbe stop stil .75?

[10:06] {Threei}  yup

[10:06] {dptl} ty

[10:06] {Threei}  need it to drop into .50 again to start trailing it

[10:07] {ese} think were looking at an up day by the end of it looking at the q's and my watch lists

[10:07] {nemo} except for the intial drop market's been trending up

[10:09] {magoo} vad..we in anything..i was doing my own

[10:09] {cujo} in ADBE magoo

[10:09] {Threei}  ADBE short

[10:09] {cujo} {&Threei}  let's try .58 trigger

[10:09] {cujo} {&Threei}  if stays below .75

[10:09] {Threei}  with stop .75

[10:11] {Threei}  market new high for the day, ADBE doesn't try to break even high of this recent range, let alone its high

[10:11] {nemo} short fas if breaks .50

[10:11] {Threei}  in my eyes it keeps it a valid short candidate

[10:12] {Threei}  stop can be trailed to above .70 if you want to be real anal-retentive about risk control

[10:12] {Threei}  no nemo

[10:12] {Threei}  sharp drop into support

[10:13] {Threei}  not a good setup for continuation

[10:13] {Threei}  if it bounces a little, forms tighter consolidation, then breaks .50 - then yes

[10:13] {nemo} duh...45

[10:13] {nemo} support that is

[10:13] {nemo} DENSA member

[10:14] {Threei}  OK, now ADBE stop can be trailed to above .70 by all

[10:14] {Threei}  oh, and this is not a scalp trade for me

[10:14] {cujo} Vad, when you update a stop price, does that change where the 1:1 is al well?

[10:14] {Threei}  as a rule, no

[10:15] {cujo} got ya. 

[10:15] {cujo} ok

[10:15] {Threei}  it may if a stop is trailed while trade is hesitating around trigger

[10:15] {Threei}  you know... triggered, started bouncing around,

[10:15] {Threei}  not defining direction,

[10:15] {Threei}  so at some point we tighten it,

[10:15] {cujo} got ya. 

[10:15] {Threei}  not because the trade has developed

[10:16] {Threei}  but because we are too uncertain and want to control risk tighter

[10:16] {hawkfan4} COCO interesting

[10:16] {Threei}  then yes, 1:1 can be changed as well

[10:17] {nemo} woul .47 be another short entry for ADBE?

[10:17] {Threei}  with stop above .60, yes

[10:18] {Threei}  as always... a bit more risky

[10:19] {Threei}  ADBE 1:1 is within spit distance

[10:19] {Threei}  here it is

[10:20] {Threei}  covering half on a first uptick

[10:20] {Threei}  .35 half out

[10:20] {Threei}  +.23

[10:21] {Threei}  stop to above .60

[10:21] {wulff} +.23

[10:21] {magoo} vad...explain why u liked adbe short even with mkt spike going on please?

[10:21] {Threei}  it lost important support on daly,

[10:22] {Threei}  after initial volatility it stopped going up with market,

[10:22] {Threei}  and it triggered

[10:22] {Threei}  which in and of itself turning off the thought process for me :)

[10:22] {Threei}  trigger comes, my fingers execute the trade

[10:23] {Threei}  brain is only watching in helpless amazement

[10:23] {wulff} we looking for cap.?

[10:23] {magoo} ok..ty

[10:23] {Threei}  1:2 ADBE

[10:23] {Threei}  cover 1/4 more on a first uptick

[10:23] {Threei}  .18 out

[10:23] {Threei}  +.40

[10:24] {fernp} out. Thank you

[10:24] {cujo} thanks Vad

[10:24] {Threei}  last portion here witgh stop above .50

[10:24] {Threei}  welcome guys

[10:24] {Threei}  actually, wait

[10:24] {Threei}  stop above .,40

[10:25] {Threei}  C

[10:25] {Threei}  COMPANY HAS REPORTEDLY NOT HAD CONVERSATIONS WITH GOVT OVER POTENTIAL NATIONALIZATION - UNCONFIRMED REPORT

[10:25] {Threei}  uh oh

[10:25] {Threei}  WFC

[10:25] {Threei}  SHARES TRADE BELOW $10.00 FOR FIRST TIME SINCE 1995

[10:25] {cujo} excuse me, i need to go withdraw some money..

[10:26] {dino} out apol .60, +1.10

[10:26] {wulff} +.48

[10:26] {cujo} nice trade dino

[10:26] {nemo} short FAS yet? :) kidding

[10:26] {Threei}  I would expect much more violent reaction on this news

[10:26] {dptl} ty adbe...+.40

[10:26] {Threei}  not sure

[10:26] {Threei}  welcome dp

[10:26] {dino} ty

[10:26] {nemo} expectations baked in?

[10:27] {Threei}  either that, or

[10:27] {Threei}  market starts changing its mind about nationalization, at least for some banks

[10:27] {hawkfan4} HIG .73, stop .64

[10:27] {nemo} We're all comrades brothers and friends now!!!

[10:28] {dino} v sm esi l .24 wide

[10:30] {dino} mcd sm l .50

[10:32] {dino} lol c, just like they did not need to raise capital

[10:32] {Threei}  well well well ADBE

[10:32] {Threei}  we have 1:3

[10:32] {Threei}  not sure if full cover is in order yet

[10:32] {Threei}  I'll try for more wity stop trailing

[10:33] {Threei}  above .30 at this point

[10:33] {Threei}  [10:14] {Threei} oh, and this is not a scalp trade for me

[10:33] {Threei}  no kidding eh

[10:33] {nemo} Got that silk sling?

[10:34] {Threei}  never too far

[10:35] {magoo} hawk..what levels u watching now for GS?

[10:35] {Threei}  hawk, don't tell him

[10:36] {Threei}  or, answer worthy a preschoolers in a sandbox:

[10:36] {Threei}  those are my levels, you watch your own

[10:36] {hawkfan4} watching it close, if it holds here and pops i like it.  83.50 break would be sweet. under .75 not so much

[10:36] {hawkfan4} lol vad

[10:37] {nemo} Grow up, VAD!

[10:37] {Threei}  never

06[10:37] * magoo slaps Threei around a bit with a large trout

[10:37] {magoo} u are so so lucky revised slaop fest no worky on magoos computater

[10:38] {nemo} cover ADBE yet?

[10:38] {hawkfan4} in .09 mags

[10:38] {magoo} ty hawk

[10:38] {Threei}  I enjoy pillow fights, running with scissors, painting outside the lines and not eating my veggies too much to grow up and give it all up

[10:38] {Threei}  why nemo?

[10:38] {Threei}  stop is above .30

[10:39] {nemo} greedy?

[10:39] {Threei}  which is incidentally, just above upper BB

[10:39] {magoo} try walking on thin ice vad...thats real fun..adrenali

[10:39] {ese} AAARRRRRBA BA BA BA   ARBA long  .50 1/2   for old times 

[10:39] {nemo} it's also the peak of the last spike

[10:39] {Threei}  right

[10:39] {Threei}  until it's not broken, downtrend is intact

[10:40] {nemo} Once when I was a kid, I was using my brother's pocket knife to whittle.  He wanted it back, so he grabbed it by the blade.  I couldn't resist...

[10:40] {Threei}  good one on GS guys

[10:41] {Threei}  do people drive much SAAB in Europe?

[10:42] {Threei}  they contemplate going independent

[10:42] {fernp} it is an important brand here.

[10:43] {Threei}  okay, makes sense then

[10:43] {dino} green ndx

[10:43] {Threei}  it's represented in NA so poorly, would be impossible to justify

[10:43] {dino} gj on gs

[10:43] {ese} yup

[10:44] {dino} comp green

[10:44] {nemo} adbe shure dancing around the cover

[10:44] {Threei}  C SPOKESPERSON: CAPITAL BASE 'VERY STRONG'

[10:45] {Threei}  but of course

[10:45] {dino} me thinks he does protest too much

[10:45] {Threei}  that's probably why they discuss nationalization

[10:45] {Threei}  done with ADBE

[10:45] {nemo} Yeah, where have we heard that  before

[10:45] {dino} n over s today

[10:45] {ese} out ARBA .58 +.08

[10:46] {ese} just for old times

[10:46] {Threei}  blast from the past ese :)

[10:46] {magoo} surprise osama on TV

[10:46] {ese} the little profits.....dey do add up

[10:46] {Threei}  do we live to see a trade on JDSU also?

[10:46] {ese} lets check it out

[10:47] {ese} it's gonna bounce from those levesl for sure

[10:47] {Threei}  dino, he protests more:

[10:47] {Threei}  SPOKESPERSON: CAPITAL BASE 'VERY STRONG', TRIMMING ASSETS ON BALANCE SHEET

[10:47] {Threei}  - Continuing to streamline business organization for future growth potential

[10:48] {ese} some seriously stupid prices on some stock thats for sure

[10:48] {Threei}  the only thing he didn't indicate:

[10:48] {Threei}  positive growth or negative?

[10:48] {nemo} Vad prediction yet for eod?

[10:48] {Threei}  gosh

[10:48] {nemo} profound

[10:48] {Threei}  even magoo doesn't ask that until after lunch, lol

[10:49] {nemo} well, it's like preempting on the penny in an ask

[10:49] {ese} L WOOF full .63

[10:50] {wulff} its wulff

[10:50] {Threei}  lol

[10:50] {ese} appologies

[10:51] {Threei}  watching RIMM

[10:51] {Threei}  it consolidates cloer to .50

[10:51] {Threei}  if forms support close enough for a tight stop, will be interested

[10:51] {ese} ack aka dak....dak acka ack........get up there

[10:51] {ese} bugs bunny magic

[10:51] {Threei}  nah, dropped too far

[10:51] {magoo} guys..im going all out in this crisis...looking at porn early today..it u recall..mkt bounces 

[10:52] {Threei}  uh oh

[10:52] {nemo} taking the laptop to the bathroom magoo?

[10:52] {ese} too funny mags

[10:54] {ese} wheres patience been lately....holidays

06[10:55] * magoo slaps nemo around a bit with a large trout

06[10:55] * nemo slaps magoo around a bit with a large a year's subscription to Hustler

[10:58] {Threei}  WOFF actyually looks nice ese

[10:58] {Threei}  WOOF

[10:59] {Threei}  stop under .50?

[10:59] {ese} i'm likin it

[11:00] {ese} yes

[11:01] {ese} stopped...damn

[11:02] {ese} hmmmmmmm

[11:02] {ese} to re enter or not to re enter

[11:03] {ese} not

[11:03] {nemo} no momentum in market ese

[11:03] {ese} indeed

[11:05] {larisa} poor HIG

[11:07] {_redcat} +.40 RIMM

[11:08] {dino}   gj

[11:08] {ese} nice redcat

[11:08] {_redcat} thnk u

[11:09] {Threei}  RIMM

[11:09] {Threei}  MORGAN KEEGAN MAKES POSITIVE COMMENTS, CITING VALUATION (TIMING UNCERTAIN)

[11:10] {ese} back at WOOF L .58 full

[11:11] {dino} hate to see what would happen if said bad things

[11:11] {Threei}  lol, no kidding

[11:12] {dino} dji, s/p at low

[11:14] {dino} fdo, dltr, wmt holding well this week

[11:15] {wulff} no need to go long yet, eh?

[11:16] {Threei}  nah

[11:16] {wulff} Double bottoms

[11:17] {tomg} ceco vad?

[11:18] {Threei}  amazingly strong

[11:18] {Threei}  tought to find entry

[11:18] {tomg} ok ty

[11:22] {dino} ahhh, VH on, can't lose

[11:24] {wulff} madoff NEVER  bought securities?

[11:24] {dino} lol

[11:25] {magoo} can u imagine madoff? never even bought thgem

[11:26] {dino} well, then it is fine, all $ in cd's right

[11:28] {magoo} GS getting killed

[11:28] {magoo} news vad

[11:28] {Threei}  no

[11:30] {dino} out mcd flat

[11:31] {wulff} you guys still holding ADBE?

[11:31] {Threei}  no

[11:31] {magoo} man..u blow a .08 breath-a-lizer and u get a nite in the pokey...madoff sitting in multi million penthouse

[11:31] {ese} all out woof .70

[11:31] {Threei}  last 1/4 was closed on trailing stop at .32

[11:31] {ese} +.12

[11:32] {wulff} curious, not me either

[11:33] {cujo} GS = UGL

[11:34] {cujo} UGLY

[11:34] {Threei}  {GS} I demand second opinion

[11:34] {magoo} lol cujo..i was looking up sym UGL

[11:35] {cujo} ha ha sry

[11:35] {cujo} typo

[11:35] {magoo} bad dog

[11:35] {Threei}  bounce time GS

[11:35] {magoo} in .49

[11:37] {Threei}  don't lose mney on it from this point

[11:37] {magoo} out .75 TY BOSSASAURAS

[11:37] {cujo} nice bounce call

[11:38] {magoo} its team work..i bring it to the table...and vad serves it up

[11:39] {cujo} ANy thoughts HIG Vad?

[11:41] {Threei}  just a sec, lemme finish GS

[11:42] {Threei}  ok

[11:42] {Threei}  HIG, I can't bring myself to go long on it

[11:42] {cujo} yeah

[11:43] {Threei}  6 break however, starts shaping up as possible short trigger

[11:43] {cujo} ok, have low alert set on it

[11:43] {Threei}  if market starts its customary pnaicky drop

[11:43] {magoo} rimm prob better bouncer somewhere

[11:43] {Threei}  and if HIG forms good resistance

[11:43] {magoo} {magoo} its team work..i bring it to the table...and vad serves it up

[11:44] {Threei}  so far resistance levels a bit too far for my taste

[11:44] {magoo} thought that was clever lol

[11:44] {Threei}  it was mags but we are big on negative reinforcement only

[11:44] {Threei}  so consider grave silence a compliment {G}

[11:45] {Threei}  and btw... GS is coming into support for bounce scalp

[11:45] {Threei}  watch market for clue for entry

[11:47] {Threei}  double bottom zone if only market helps

[11:48] {magoo} looks down yet

[11:48] {magoo} under 80 imo

[11:49] {nemo} Mags get's the booby prize

[11:50] {wulff} too quick for me 

[11:50] {cujo} got some of that GS, thanks Guys (since mags is bringing it to the table and Vad is serving it up)

[11:51] {Threei}  lol

[11:51] {Threei}  fries with that?

[11:51] {magoo} bacon?

[11:51] {cujo} yup, and an extra side of Bacon....

[11:52] {Threei}  now you did it

[11:52] {Threei}  see you in 15

[11:52] {Threei}  don't buy GS here

[11:52] {magoo} darn..now craving bacon double cheeseburg for lunch

[11:52] {Threei}  third time, way too dangerous

[11:52] {nemo} short?

[11:52] {Threei}  no

[11:52] {Threei}  just let it be

[11:53] {nemo} Great...The Beatles

[11:54] {dino}     esi hod

[11:58] {magoo} am i back??

[11:58] {nemo} unfortunately...yes

[11:59] {magoo} gthat does itttttttttttttttttt

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

06[11:59] * magoo slaps nemo around a bit with a large trout

[11:59] {nemo} missed

[11:59] {nemo} ppppppphhhhhhhhhhhtttttttttttttttt!!!!!!!!!!!

[12:02] {magoo} cnbc girls irretating here...laughing about mkt crash

[12:02] {magoo} suggestiong getting into golds

[12:02] {cujo} i've made the full time switch to BBErg tv

[12:02] {cujo} just the lack of Gasperino is worth it....

[12:03] {Threei}  how is it bad mags

[12:03] {magoo} i wish parent company GE would slash 2/3 of their jobs..then id be laughing arogant f'ers

[12:03] {Threei}  didn't you have enough men crying about it?

[12:04] {magoo} poor dino..anfd i have the poweer tyo help him...but i wont he he

[12:05] {Threei}  are you going to laugh at him and kick him too?

[12:07] {Threei}  magoo??

[12:08] {magoo} huh?

[12:08] {Threei}  never mind... just wanted to know how far your cruelty goes

[12:08] {wulff} here comes rimm

[12:08] {Threei}  to high five you if far enough

[12:12] {Threei}  feels like one more little pullback, then strong upward move

[12:12] {magoo} missed that GS gift

[12:13] {Threei}  see iof we get STT pulling back closer to .80

[12:14] {Threei}  and watch market for entry timing

[12:14] {Threei}  aalso, hate to do it but

[12:14] {Threei}  WFC is long on 10 break if market spikes and if holding above 9.90

[12:17] {dino} partial fill cpla .60 l

[12:21] {ese} have to go see you all later....tks for dcc nemo....

[12:21] {Threei}  take care ese

[12:22] {cujo} catch you later ese

[12:22] {nemo} ez ese

[12:22] {Threei}  anyone got entry in STT?

[12:22] {cujo} i'm in WFC

[12:22] {Threei}  WFC is taking longer than I'd like

[12:22] {cujo} move stop?

[12:22] {cujo} .94?

[12:22] {Threei}  lower BB is at .96 now

[12:23] {Threei}  so maybe move to .95

[12:23] {Threei}  negligible loss

[12:23] {nemo} what's your BB setting Vad?

[12:23] {Threei}  either it works or who needs this rotten thing

[12:23] {Threei}  13 and 1.7 on intraday

[12:25] {nemo} FAZ strengthening and wfc holding

[12:26] {nemo} lunchtime trading

[12:26] {nemo} Mags...bathroom

[12:27] {Threei}  wow RIMM

[12:28] {magoo} that indicator is not constant nemo...changes day to day

[12:28] {nemo} bummer

[12:28] {magoo} its consistant for the subject day as an indicator..but somedays its up..somedays its down

[12:29] {dino} the beer indicator is more reliable

[12:29] {dino} when magoo wants one before the close, we are going down hard

[12:29] {Threei}  bands tightened on WFC

[12:29] {Threei}  move is coming

[12:29] {magoo} boy thats true

[12:30] {dino} gun to my head, green close

[12:30] {nemo} look at all the offers @.99

[12:30] {Threei}  on what?

[12:30] {nemo} was wfc

[12:30] {Threei}  doesn;'t mean much

[12:33] {Threei}  WFC = useless ugly pos

[12:33] {hawkfan4} HIG looks ready

[12:33] {magoo} GS RIMM could be huge if we spiked hard

[12:33] {dino} i was thinking "waste of f'ing cash"

[12:33] {hawkfan4} lol dino

[12:33] {Threei}  rofl

[12:34] {nemo} HIG ready for what...short?

[12:34] {Threei}  I like your version better

[12:34] {magoo} in rimm.0

[12:34] {magoo} 60

[12:35] {hawkfan4} COCO over hod vad?

[12:35] {wulff} WFC stop

[12:36] {magoo} out .75 lunch $$

[12:36] {cujo} nothing wrong with that.  you gotta eat

[12:37] {Threei}  probably hawk...

[12:38] {Threei}  I just have hard time buying breakouts in this market

[12:38] {nemo} O.K. Vad, it's after lunch...prediction please

[12:39] {wulff} did I get into WFC too early at 10?

[12:39] {Threei}  why, it triggered

[12:39] {nemo} stopped under .90

[12:39] {Threei}  why so low

[12:39] {Threei}  we trailed stop to .95

[12:40] {wulff} what was BB

[12:40] {cujo} can you have an upside down c&h?

[12:40] {Threei}  sure

[12:40] {nemo} yeah, for a short cujo

[12:40] {cujo} is WFC forming one?

[12:41] {Threei}  not much tea is going to remain in, but otherwise...

[12:41] {cujo} :)

[12:41] {nemo} tea?  tea?  vodka you mean

[12:41] {Threei}  from cup?

[12:41] {nemo} why not?

[12:41] {cujo} there is a bar around me that serves all drinks in tea cups.  Prohibition themed bar...

[12:42] {cujo} SS WFC .86

[12:42] {Threei}  200g cut glass

[12:42] {Threei}  classic

[12:42] {nemo} Huh...knew this chinese restaraunt that served very strong tea after drinking hours

[12:43] {cujo} ha ha 

[12:43] {nemo} yep...came in a stainless tea pot

[12:45] {Threei}  CNBC'S SANTELLI: THE FOREIGN EXCHANGE RUMOR MILL IS IN HIGH GEAR TODAY, ALL KINDS OF VAGUE RUMORS ARE FLYING AROUND SPECIFICALLY IN EUROPE

[12:45] {Threei}  - Notes rumors seem to be "based in Europe"

[12:45] {Threei}  SPOT GOLD RETESTS THE $1,000; HIGHEST LEVEL SINCE MAR 18TH, 2008

[12:45] {Threei}  - All-time high $1,032.40/oz on Mar 17th, 2008

[12:45] {Threei}  fern... what are they saying over there??

[12:45] {Threei}  nice short cujo

[12:46] {cujo} out WFC +.13

[12:46] {cujo} thanks

[12:46] {Threei}  see... turn C&H uoside down, and content does pour out

[12:46] {cujo} he he

[12:47] {nemo} another short if it breaks .70?

[12:47] {Threei}  after sharp bar down?

[12:48] {nemo} maybe cujo gets another cup  handle...thing'll start looking like a cow's udder

[12:49] {Threei}  ugliness reigns

[12:50] {nemo} FAS break low, short?

[12:50] {cujo} ha ha ha

[12:50] {Threei}  [12:47] {Threei} after sharp bar down?

[12:51] {nemo} that was about wfc, just asked about fas,,same answer?

[12:51] {nemo} there's two sharp bars down on wfc

[12:51] {Threei}  it just dropped from almost .40 in a straight line

[12:52] {Threei}  shorting such drop is the same as chasing sharp spike up

[12:52] {Threei}  let it bounce a bit, consolidate, form a breakdown setup

[12:53] {nemo} wfc or fas?

[12:53] {Threei}  any

[12:53] {Threei}  I am talking about situation

[12:54] {Threei}  FHFA REGULATOR: FNM AND FRE PLAN MAY NOT REMOVE EQUITY IN CASH FORM,

[12:54] {nemo} oh.  ha that triple/quadruple top on fas between 12:25 and 12:40 woul you have gone short @ .33?

[12:54] {Threei}  - Notes that the loans for GSE do not require more credit enhancement to refinance

[12:55] {nemo} so...credit unworthy just get more money? oy weh.

[12:55] {Threei}  that one is more setup-like

[12:56] {Threei}  not my favorite but at least has structure

[12:56] {Threei}  shorting .20 a few min ago - emphatically no

[12:57] {nemo} basically bounced at low

[12:58] {magoo} getting ugly out there

[12:58] {Threei}  [12:49] {Threei} ugliness reigns

[12:58] {Threei}  [12:50] {nemo} FAS break low, short?

[12:59] {nemo} yep...remember

[12:59] {dptl} it's my b-day today :)

[12:59] {buyemsellem} happy birthday

[12:59] {Threei}  really?

[12:59] {larisa} happy birthday dp :)

[12:59] {Threei}  happy Birthday dp!'

[12:59] {cujo} happy b-day

[13:00] {nemo} ditto

[13:00] {Threei}  can'

[13:00] {vint} happy birthday, dptl

[13:00] {dptl} ty:)...thinking its time to have a drink

[13:00] {Threei}  can't believe you are still not at my porch with good bottle of vodka

[13:01] {dptl} lol

[13:01] {nemo} getting uglier

[13:01] {cujo} Vad, if you ever make it to east coast will take you to best Vodka Bar in area...

[13:02] {nemo} where you dog?

[13:02] {cujo} NY

[13:02] {cujo} u?

[13:02] {nemo} boston...well Maine at the moment

[13:02] {nemo} Yankees or Mets

[13:02] {cujo} ehh, not a baseball fan

[13:03] {cujo} but i would say mets over yankees

[13:03] {nemo} cool

[13:03] {Threei}  thank you cujo

[13:03] {fernp} cover C 1.89 +.12 sloooow

[13:04] {magoo} rimm held that pull

[13:04] {nemo} we due for upleg Vad?

[13:05] {Threei}  doesn't feel this way to me

[13:05] {Threei}  rather more down

[13:05] {magoo} i live 2 hrs from nyc

[13:05] {cujo} poconos right?

[13:05] {magoo} take me..i like viodka

[13:05] {magoo} cant spell it..but can spiull it

[13:05] {cujo} let me know if you are around.  

[13:05] {_redcat} magoo, ever try grey goose Pear?

[13:06] {dino} yankees

[13:06] {Threei}  grey goose is good, just horribly overpriced

[13:06] {magoo} nope..but drink alot of vodka shots..

[13:06] {nemo} what about 'em Dino?

[13:06] {dino} grey goose at my house

[13:06] {magoo} like it chilled

[13:06] {cujo} http://www.riversidewinemerchants.com/r/products/jewel-of-russia-ultra-vodka/?utm_source=google;utm_medium=base

[13:06] {magoo} orange stoli

[13:06] {nemo} Oh geez...wish I had my shotgun...flock of ducks just landed in the yard

[13:06] {dino} most likely hit it satiurday night

[13:07] {cujo} best vodka i have ever tasted.  perfect just on ice. 

[13:07] {dino} family coming over, so shots will be had at the basement bar

[13:07] {magoo} is there a missing RAVEN with them ducks?

[13:08] {nemo} nah...they just took off...dog noticed them

[13:08] {nemo} not cujo

[13:08] {Threei}  cujo... ever tried canadian Iceberg?

[13:08] {cujo} no, you like?

[13:08] {_redcat} QQQQ going splat

[13:09] {Raven} {}

[13:09] {cujo} just looked it up.  Can you get in the states?

[13:10] {Threei}  no idea

[13:10] {Threei}  but if can, try it

[13:10] {Threei}  you'll be pleasantly surprized

[13:10] {cujo} its on the list.

[13:11] {dino} 13%+ down in s/p and dji from 2/9

[13:11] {_redcat} altoghether now...y did i cover ADBE...arrgh

[13:12] {Threei}  lol

[13:16] {magoo} 211 down

[13:17] {nemo} I hear that strong flushing sound

[13:17] {Threei}  market sure is cheering all the rescue efforts

[13:17] {wulff} anyone thinking they missed trading in 2001,no worries. we're here again

[13:17] {Threei}  FAS under 4

[13:18] {nemo} yeah they'll have to delist it soon

[13:18] {Threei}  what carnage eh

[13:18] {nemo} yeah...and it's 10 miles to the closest bottle of vodka

[13:18] {Threei}  now... you may consider me overly conservative these days, but,

[13:19] {Threei}  we are finishing this week with EVERY day whinning

[13:19] {nemo} whining or winning

[13:19] {cujo} did you mean winning or whining?

[13:19] {cujo} ha ha

[13:19] {Threei}  guess

[13:19] {Threei}  lol

[13:19] {nemo} Magoo whines

[13:19] {Threei}  winning

[13:19] {cujo} great minds nemo

[13:19] {nemo} Cujo, never been accused of that

[13:20] {Threei}  rabid dog and lost fish

[13:20] {cujo} first time for everything.

[13:20] {nemo} A couple of sandwiches short of a picnic

[13:20] {nemo} No, I'm the guy in with the cyclops

[13:20] {Threei}  that's too far in history

[13:20] {Threei}  lost fish is what new generations know

[13:20] {nemo} what's your point?

[13:21] {nemo} I'm old

[13:21] {nemo} same age as you you geiser

[13:21] {nemo} geezer

[13:21] {nemo} guyzer

[13:21] {nemo} whatever

[13:21] {Threei}  ok, let's settle on the mad captain of a submarine

[13:21] {magoo} im only up 3 of 4

[13:22] {nemo} works for me...huh...we're negotiating on the meaning of MY nick?  Somethin' screwy about that...well it's your ballfield

[13:22] {nemo} .750 magoo...cool

[13:23] {magoo} the losing day was when i was trading vads p[ix {as i run from slap fest a comuith}

[13:23] {nemo} WHAT?

[13:24] {Threei}  I won't even slap you

06[13:24] * nemo slaps magoo around a bit with a large Mavis Beacon teaches typing

[13:24] {Threei}  I will leave you to live with your ridiculousness

[13:24] {Threei}  and get punished by your conscience

[13:24] {nemo} he has one?

[13:24] {Threei}  ummm... that's a very questionable concept

[13:25] {Threei}  I gotta rethink that

[13:25] {nemo} I thought he was a zombie

[13:25] {Threei}  ok, I rethought that

[13:25] {nemo} and to think... he bred

[13:25] {magoo} yes

[13:25] {magoo} here it comes

06[13:25] * Threei slaps magoo around a bit with a large plate of bacon of which magoo doesn't get any single piece

[13:28] {nemo} some poor bastard put in a market order on FAS oops

[13:29] {cujo} i'm sure they will bust that trade...  but does look funny... 

[13:29] {nemo} bet his sphincter tightened on that one

[13:30] {cujo} yeah

[13:30] {Threei}  I missed that

[13:30] {Threei}  what was the price?

[13:30] {nemo} spiked t 4.50

[13:31] {larisa} late trade or may be it is rich one who shorted at 60 , so he does not care :)

[13:32] {nemo} I would NEVER have thought of that

[13:32] {Threei}  what was the size?

[13:32] {cujo} i don't have t&s :(

[13:32] {Threei}  wow

[13:32] {nemo} Well volume in that minute spiked to 5 million

[13:33] {Threei}  you do have charts and buy/sell buttons though, right?

[13:33] {nemo} Mmmmmhhh FAS forming wedge....

[13:33] {cujo} yes

[13:33] {Threei}  whew

[13:33] {nemo} Vad...be nice

[13:33] {nemo} cujo isn't Mags

[13:34] {Threei}  well... being nice is way too unnatural for me

[13:34] {Threei}  sorry

[13:34] {cujo} its ok

[13:34] {cujo} think skin here... 

[13:34] {Threei}  and I say it in a nicest possible way

[13:34] {cujo} thick

[13:36] {cujo} Any thoughts on HIG 6 break?

[13:37] {Threei}  I hate the very idea of going long for now

[13:37] {cujo} yeah

[13:38] {Threei}  anyone took that 6 breakdown btw?

[13:38] {Threei}  gave nice and easy 20 cents

[13:42] {magoo} rimm holds vad

[13:43] {nemo} paper covers rock

[13:44] {cujo} you get into that RIMM Mags?

[13:45] {magoo} not yet

[13:45] {magoo} if mkt could majke move

[13:45] {magoo} like it

[13:47] {larisa} lol, there are doubts if stocks will ever go up again :)

[13:48] {Threei}  no doubts

[13:48] {Threei}  they never will

[13:48] {Threei}  ever

[13:49] {larisa} I am not crying too. girls never cry.

[13:50] {larisa} but i miss good up day

[13:50] {Threei}  ok... I promise one

[13:50] {larisa} when ?

[13:51] {Threei}  can't tell... I am still in shock after

[13:51] {Threei}  [13:05] {magoo} take me..i like viodka

[13:51] {Threei}  that sounded uncarachteristically girly

[13:52] {magoo} news 

[13:52] {magoo} on cnbc

[13:52] {Threei}  ?

[13:53] {magoo} breaking news

[13:53] {Threei}  what's with BAC?

[13:54] {Threei}  what was the news?

[13:54] {hawkfan4} no idea

[13:54] {Threei}  magoo?

[13:54] {larisa} WH briefing : no need to nationalize the bank that is profitable :)

[13:55] {Threei}  no really?

[13:55] {Threei}  wow

[13:56] {larisa} it was daily briefing, he just answered the question

[13:57] {Threei}  WHITE HOUSE: REAFFIRMS STRONG BELIEF THAT A PRIVATELY HELD BANKING SECTOR IS THE RIGHT WAY TO GO

[13:57] {larisa} it shows how hard we are going to spike if REAL news come

[14:01] {Threei}  WFC

[14:01] {Threei}  trying to follow

[14:04] {Threei}  how's this for irony:

[14:04] {Threei}  GOOG

[14:04] {Threei}  CITIGROUP LOWERING ESTIMATES

[14:05] {hawkfan4} GOOG "i'm going to buy C and fire that analyst"

[14:05] {Threei}  {GOOG} get over $2 before you estimate anyone

[14:08] {Threei}  WFC is serious

[14:08] {Threei}  pullback into .50 for a scalp

[14:08] {nemo} look at hig

[14:11] {Threei}  by WH, Mr Santelli doesn't know what he is talking about

[14:15] {dino}   i think he's more right than most

[14:15] {dino} they must take the pain

[14:16] {Threei}  sheesh

[14:16] {nemo} no manure

[14:16] {cujo} FAS and FAZ

[14:16] {nemo} hig

[14:16] {cujo} hig

[14:16] {nemo} cujo!

[14:16] {cujo} ha ha

[14:17] {nemo} FAS coming up on resistance

[14:18] {dino} ppt

[14:18] {cujo} what is PPT?

[14:18] {nemo} Plunge Protection Team

[14:18] {dino} yes

[14:19] {cujo} heading out all.  Best of luck on the rest of the day

[14:20] {Threei}  US TREASURY TO RELEASE ADDITIONAL RETAILS ON BANK RESCUE PLAN NEXT WEEK - CNBC

[14:20] {nemo} Great Short opportunity!!!

[14:21] {Threei}  lol

[14:22] {hawkfan4} additional RETAILS? whoever typed that must be a trader

[14:22] {Threei}  you have no idea hawk

[14:22] {Threei}  this line initially had next YEAR

[14:22] {Threei}  changed to week in a few seconds

[14:23] {larisa} rofl

[14:23] {Threei}  I stared at it not being able to believe my eyes, lol

[14:23] {hawkfan4} lol

[14:23] {Threei}  jeez

[14:23] {Threei}  look at these spikes

[14:24] {nemo} FAS broke resistance

[14:24] {Threei}  I was thinking, to alert about WFC pullback entry near 10 or 9.80

[14:24] {Threei}  next second it was 10.35

[14:25] {nemo} htf do you play this?

[14:25] {dino} out esi 116.94, +3.70

[14:25] {Threei}  that's how

[14:26] {larisa} lol

[14:26] {Threei}  lol

[14:26] {Threei}  wtg dino

[14:26] {larisa} gj

[14:26] {dino} lucky

[14:26] {magoo} vad im crying..had GS long 80...right before pop..was exit out there 80.45 ..gets hit and goes 3+

[14:26] {nemo} so FAS to close gap from yesterday and go to 5.60?

[14:26] {Threei}  WHITE HOUSE: IAEA REPORT ON IRAN SHOWS IRAN HAS CONTINUED TO SHUN OBLIGATIONS ON NUCLEAR PROGRAM

[14:26] {dino} magoo, i gave you esi at 115 break too

[14:27] {Threei}  great... not only magoo posts {magoo} take me..i like viodka... he is crying too

[14:27] {magoo} oh u did.,..weheres my $$

[14:27] {dino} hmmmm, thinking instead of yelling them out i should walk over and slap the back of his head

[14:29] {Threei}  WFC

[14:29] {Threei}  look for entry near 10.10

[14:30] {Threei}  got .08

[14:30] {Threei}  stop under 10

[14:31] {Threei}  half out.16

[14:31] {magoo} out here .21

[14:32] {magoo} ty bossasauras-ass

[14:32] {Threei}  out in full .30

[14:32] {dino} grrr apol hits 80, i'm out at 78.60

[14:32] {nemo} ooohhhhhh

[14:33] {Threei}  was it a beauty or was it a beauty

[14:33] {magoo} u are a beauty allright lol

[14:33] {dawg} great call Vad ty in .04 out .33

[14:33] {Threei}  dawg :)

[14:33] {buyemsellem} yes nice call

[14:33] {nemo} throwin' stones from a glass house mags

[14:34] {Onix} ty Vad, got some in WFC :)

[14:34] {Threei}  mags... you seeded enough doubts in me today, lol

[14:34] {Threei}  onix :)

[14:34] {magoo} ok..ill be good

[14:34] {magoo} start teasing dino some more

[14:35] {Threei}  BAC straight down

[14:36] {Threei}  someone said something somewhere again I suppose

[14:36] {nemo} Dodd

[14:36] {Threei}  the only way to play these things is to catch a technical move between two speeches, lol

[14:37] {Threei}  and hope it resolves faster than the next speech starts

[14:37] {dino} i just don't play them, too random, too fast

[14:38] {Threei}  I am still giggling over that "treasury to release details next year"

[14:38] {Threei}  HUH?

[14:38] {Threei}  you guys think you can say this without sending market under zero?

[14:38] {dino} they still won't get it done in time

[14:39] {Threei}  some of those moves are readable dino... not all

[14:39] {Threei}  but that's what I am trying to do when such madness hits

[14:39] {Threei}  find those that are possible to read with better odds

[14:40] {Threei}  they do have patterns to them

[14:40] {Threei}  major being,

[14:40] {Threei}  when they pull back

[14:40] {Threei}  they tend to come into natural support,

[14:40] {Threei}  pause,

[14:40] {Threei}  bounce just a tad,

[14:40] {Threei}  then drop again seriously overstretching the move

[14:41] {Threei}  shaking out premature buyers hard

[14:41] {Threei}  and then bounce for real.

[14:41] {dino} not to me vad, not to me

[14:41] {Threei}  This was the case with this WFC move

[14:41] {Threei}  natural support was around .25

[14:41] {Threei}  and it gesitated there,

[14:41] {dino} i am a simple trader

[14:41] {Threei}  then dfropped under .10

[14:42] {Threei}  as it started downticking toward .20 and under, I alerted about .10 being entry zone

[14:43] {magoo} dino left office vad

[14:44] {Threei}  what did you do to him?

[14:45] {magoo} i sent him for more beer...it just keeps disappearing from fridge

[14:45] {dino} back w/mich light

[14:45] {nemo} If FAS breaks .90 long?

[14:46] {Threei}  no idea

[14:46] {Threei}  cxan be double top just as easy

[14:46] {dino} but still thinking about the grey goose on ice, i wonder if tanguary' tastes just as good, that only vodka at the office

[14:47] {dino} s/p wants to fill that opening gap

[14:50] {dino} skf nice range

[14:50] {Threei}  so, who is scared of holding over the weekend more, shorts or longs

[14:51] {nemo} FAS going to close the range...wow

[14:52] {dino} end of month, maybe markups next week, altho did not happen in jan.

[14:52] {Threei}  larisa... you asked for an up day

[14:52] {dino} s/p gap filled.

[14:52] {larisa} this one dino gave me, get your own :)

[14:52] {dino} my close green call looking better

[14:53] {dino} thank you larrrrisssssa

[14:53] {wulff} +1.15 POT half

[14:53] {dino} gj

[14:55] {dino} uso green

[14:55] {wulff} wow wfc

[14:57] {Threei}  BAC, will get interested around .50

[15:02] {Threei}  missed

[15:03] {nemo} yea didn't get through those 14:27 spikes

[15:03] {wulff} your mojo is off

[15:04] {Threei}  but wulff... my trout is on

[15:04] {Threei}  hmmm

[15:04] {Threei}  US TREASURY SPOKESPERSON: CANNOT IMMEDIATELY COMMENT ON ON WHETHER THERE WILL ADDITIONAL BANKING DETAILS NEXT WEEK

[15:05] {Threei}  it's still next year I guess

[15:05] {dino} then why say this at all

[15:05] {wulff} must consult the cat

[15:05] {Threei}  look CNN

[15:07] {Threei}  Gibbs on Santelli was the piece I meant

[15:11] {Threei}  CNBC'S LIESMAN: AFFIRMS THAT US TREASURY WILL RELEASE SOME DETAILS REGARDING THE BANK PLAN NEXT WEEK; NOTES IN LINE WITH PRIOR MARKET EXPECTATIONS FROM THE US TREASURY

[15:11] {Threei}  - Liesman notes that it is unclear whether this is truly ahead of expecations but notes it does match the orginal time frame of 'within weeks' issued by US Treasury officials at the G7 meeting{

[15:12] {Threei}  wtf

[15:12] {nemo} gotta fill time on Friday

[15:13] {dino} 3:40 time area should be interesting

[15:13] {Threei}  now the drama is not about content but about next week or not?

[15:14] {Threei}  I can't wait till market starts moving up and down on commentators' arguing about color of the paper report will be printed on

[15:14] {Threei}  CNBC: details on the plan will be on white paper

[15:14] {Threei}  Bloomberg: no, yellowish

[15:14] {Threei}  Reuters: greyihs

[15:14] {nemo} chartreuse

[15:15] {wulff} makes me crazy to wait for a stock to move with a trailing stop

[15:15] {Onix} :D

[15:15] {nemo} yeah, it must SUCK making money

[15:16] {wulff} totally

[15:16] {cujo} On iphone. Miss anything?

[15:17] {buyemsellem} market go up. market go down.

[15:17] {wulff} do-si-do

[15:17] {nemo} Somebody else going for Vad's title, this headline on RealMoney: Gold Is Poised for a Major Technical Breakout

[15:17] {dino} what about th inviible ink

[15:18] {buyemsellem} doing some trading on your phone?

[15:19] {cujo} Nah, just seeing if u all made millions while I was out. 

[15:19] {dino} on my rotary phone, yes

[15:19] {cujo} C ya

[15:19] {dino} c'mon, dji, go green

[15:19] {dino} later cujo

[15:24] {magoo} vad we in anything?

[15:24] {nemo} we're out of our minds

[15:24] {Threei}  in deep doodoo if you mean economy... in deep coma if you mean us personally

[15:25] {nemo} Almost feels like the market wants to call it a week

[15:26] {dino} where are my short coverers?

[15:27] {Threei}  not yet nemo

[15:27] {Threei}  I still have to get my revenge for this:

[15:27] {Threei}  [14:52] {Threei} larisa... you asked for an up day

[15:27] {Threei}  [14:52] {dino} s/p gap filled.

[15:27] {Threei}  [14:52] {larisa} this one dino gave me, get your own :)

[15:27] {Threei}  and my revenge to her will be closing markets in red

[15:27] {larisa} lol

[15:27] {larisa} not nice

[15:27] {Threei}  triple digits

[15:27] {Threei}  nope

[15:27] {larisa} dino has a gun..

[15:28] {dino} not happening

[15:28] {nemo} there you go

[15:28] {Threei}  but I told you... I don't even exchange postcards on Christmas with nice

[15:28] {Threei}  here are triple digits

[15:29] {dino} we are not closed yet 3i, i shall go down w/the ship if necessary

[15:29] {Threei}  ugh, don't

[15:29] {Threei}  let it sink without you on board

[15:29] {Threei}  what are you, captain of Titanic

[15:29] {nemo} why don't you rearrange the deck chairs

[15:29] {dino} well, i'm bring larisa along, so all is not lost

[15:30] {Threei}  now, THAT'S not nice

[15:30] {Threei}  see larisa... I at least don't try to kill you

[15:30] {nemo} they'll die together, how rom....STUPID

[15:31] {Threei}  my thinking is dino... we have enough of musicians in congfress and wh to play while this ship sinks

[15:31] {dino} smiling tho

[15:36] {dino} c'mon

[15:37] {dino} 3:37

[15:38] {Threei}  RIMM, pullback into 39 area for bounce

[15:40] {dino} itt sm l .80

[15:42] {Threei}  missed

[15:42] {fernp} have a nice weekend everybody

[15:42] {fernp} see u on monday

[15:42] {Threei}  take care fern, good week for you?

[15:43] {fernp} very good

[15:43] {Threei}  :)

[15:43] {fernp} :)

[15:46] {nemo} FAS and SPY are carbon copies

[15:47] {dptl} have a good weekend all :)

[15:47] {Threei}  take care dp, happy birthday!

[15:47] {nemo} P&Q

[15:47] {dptl} ty:)

[15:48] {dino} happy bday dp

[15:49] {dptl} ty:0

[15:49] {dino} see ya fern

[15:50] {Threei}  REP. FRANK: NATIONALIZATION IS SOMETHING TO BE AVOIDED AND DOEST SEE IT AS LIKELY RIGHT NOW - TV INTERVIEW

[15:50] {Threei}  strange

[15:50] {Threei}  from this guy I'd expect "sure, we will take them and fix them"

[15:51] {dino} "right now"

[15:51] {Threei}  "cause we already fixed GSEs, ya know"

[15:52] {magoo} they all should zip mouths here

[15:53] {Threei}  not an option

[15:53] {Threei}  careers are being made and destroyed at times like these

[15:54] {dino} out itt .10, +.30

[15:54] {patience} no shopping spree yet, just waiting

[15:54] {patience} have a good weeked guys

[15:54] {Threei}  patience :)

[15:54] {dino} u2 patience

[15:55] {Threei}  BAC CEO: BANK DOES NOT NEED FURTHER ASSISTANCE, CAN SURVIVE DOWNTURN ON ITS OWN; TRADING BUSINESS HAS 'VASTLY IMPROVED' IN CURRENT QUARTER - INTERNAL MEMO

[15:55] {Threei}  - Remarks that the corporate debt market indicating signs of 'thawing

[15:55] {vint} bye guys, see u on monday

[15:55] {Threei}  take care vint

[15:55] {dino} l8r vin

[15:56] {nemo} P&Q

[15:56] {larisa} Pint and Quart ?

[15:56] {hawkfan4} bye all

[15:57] {nemo} Peace & Quiet

[15:57] {larisa} :)

[15:57] {nemo} the older I get the more of it I want

[15:57] {larisa} when you have it, it means you are dead.. 

[15:58] {Threei}  BAC a lot of buyers

[15:59] {dino} out cpla .80, +.20

[16:00] {Threei}  okay guys

[16:00] {Threei}  great week

[16:00] {Threei}  no losing days

[16:00] {nemo} Yeah...for the most part they called it a week

[16:00] {Threei}  while market is hurting badly

[16:00] {Threei}  thsank you all

[16:01] {Threei}  have a great weekend

[16:01] {dino} thirsty...........

[16:01] {nemo} see ya'

[16:01] {Threei}  see you on monday

[16:01] {larisa} later :)

[16:01] {magoo} ty vad.....everyone

[16:01] {dino} take care all

[16:01] {dino} thx for ideas

[16:01] {_redcat}  nice being with u all

[16:01] {Threei}  you know where to find us redcat

[16:02] {magoo} take car redcat

[16:02] {Threei}  magoo even willing to give you his car

[16:02] {magoo} oh HE HE

[16:02] {dino} good to have you here redcat

[16:02] {_redcat} most generous of u magoo....should be able to make my own payments with ur guidance

[16:05] {dino} 4% over 30 or 40 years seems fair

[16:10] {dino} gn all

Feb 19 2009

The day started with two strong trades - AKAM long for 30 something cents and CAT short for a full dollar. A few scalps on RIMM later on in both directions were like icing on a cake.                                                                                                                                                                                                                   

Session Time: Thu Feb 19 00:00:00 2009

[08:00] {KSystems} Boo

[08:03] {Threei}  good morning to you too KS

[08:06] {hawkfan4} morning

[08:06] {Threei}  hawk :)

[08:10] {Threei}  PREVIEW: US INITIAL JOBLESS CLAIMS DATA DUE OUT AT 8:30 AM ET

[08:10] {Threei}  - Expectations for initial claims are 620K v prior release of 623K (range seen from 590K to 660K)

[08:10] {Threei}  - Continuing claims seen at 4.830M v prior 4.81M. (range seen from 4.800M to 4.882M)

[08:10] {Threei}  PREVIEW: JAN PRODUCER PRICE INDEX AND PPI EX FOOD & ENERGY DUE AT 8:30AMET

[08:10] {Threei}  Consensus expectations:

[08:10] {Threei}  - Producer Price Index MoM: 0.3%e v -1.9% prior; YoY expected at -2.4% v -0.9% prior

[08:10] {Threei}  - PPI ex Food & Energy MoM: 0.1%e v 0.2% prior; YoY expected at 3.8% v 4.3% prior

[08:14] {KSystems} Morning :)

[08:14] {Threei}  ks :)

[08:15] {nemo} Gruess Gott

[08:15] {Threei}  nemo :)

[08:16] {nemo} Nasdrovya Vad

[08:16] {nemo} Any interesting overnight news other than the Russians firing on the Chinese

[08:17] {Threei}  I missed that

[08:17] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=acUuNBiKjveM

[08:20] {Threei}  non-event, IMO

[08:20] {nemo} entertaining

[08:20] {larisa} good morning :)

[08:21] {Threei}  larisa :)

[08:21] {nemo} larisa :)

[08:21] {larisa} threei, nemo :)

[08:26] {Threei}  BALTIC DRY BULK INDEX +3.6%, 3RD STRAIGHT INCREASE FOR 4 MONTH HIGHS

[08:28] {Threei}  EGLE halved in 7 sessions

[08:29] {hawkfan4} wow

[08:29] {Threei}  DRYS at least had all those news with refinancing

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 627K V 620KE;

[08:30] {Threei}  CONTINUING CLAIMS: 4.987M V 4.839ME

[08:30] {Threei}  JAN PRODUCER PRICE INDEX M/M: 0.8% V 0.3%E; PPI EX FOOD&ENERGY: 0.4% V 0.1%E

[08:31] {nemo} so producer inflation still high

[08:32] {cujo} good morning

[08:32] {Threei}  cujo :)

[08:32] {nemo} dog :)

[08:33] {cujo} hey nemo, how things

[08:33] {Threei}  GG

[08:34] {Threei}  REPORTS Q4 $0.12 V $0.11E, R $609M V $626.9ME

[08:34] {Threei}  - Q4 results include a non-cash foreign exchange gain on the revaluation of future income tax liabilities.

[08:48] {Threei}  market shrugs off another miserable job report

[08:50] {patience} good morning RT  :)

[08:50] {Threei}  patience :)

[09:03] {Onix} gm all

[09:03] {Threei}  onix :)

[09:06] {nemo} That PPI doesn't surprise me.  Companies trying to cover fixed costs.  At my weekend job, they're jacking up fishing equipment between 25-75%

[09:08] {cosmo} WFMI 11 resistance  ...fwiw

[09:09] {cosmo} looks like a buy out...

[09:11] {Threei}  quite a gap, PCLN

[09:13] {Threei}  SAN FRANCISCO FED ECONOMIST: THIS RECESSION WILL BE THE WORST FOR JOB LOSSES IN 50 YEARS

[09:13] {magoo} morming..I GOT IN EASY:)

[09:13] {Threei}  lol magoo

[09:13] {magoo} gonna be a good day

[09:14] {nemo} That SF Economist is going for your title, Vad.

[09:14] {Threei}  took you what, a month to get to configure mirc? and 20 min to finally do it?

[09:15] {magoo} yeah vad..pretty good huh?

[09:15] {Threei}  efficient too

[09:15] {cujo} Anyone know what happened to AAPL?

[09:16] {Threei}  no news

[09:17] {hawkfan4} Wall street journal reported AAPL computer unit sales in US declined 6% yr/yr in Jan

[09:18] {dptl} good morning all

[09:18] {Threei}  dp :)

[09:18] {fernp} Hello everybody

[09:18] {Threei}  fern :)

[09:19] {dino} gm all

[09:19] {Threei}  dino :)

[09:19] {Threei}  be back in 5

[09:19] {ese} morning

[09:19] {cosmo} WFMI 11.11 ...so far

[09:20] {pita} gm all

[09:24] {Threei}  ese, pita :)

[09:25] {Threei}  HIG is knocking on resistance

[09:26] {ese} hmmmmm seems like the new thing....raise the price target on a stock and it goes shooting up PCLN up +10 bills

[09:26] {Threei}  it reported yesterday

[09:26] {Threei}  upgrdaes came in after that

[09:28] {ese} ahhh....missed it i guess

[09:34] {Threei} Long Setup:  HIG  .50 break if stays above .40

[09:35] {buyemsellem} did that HIG invalidate?

[09:36] {Threei}  barely

[09:36] {nemo} teleport

[09:36] {Threei}  a bar or two more of trading here and will be valid again

[09:37] {nemo} stick a fork in it?

[09:37] {Threei}  invalidated now, bounce candidate rather than break

[09:38] {Threei}  NVAX

[09:38] {Threei}  REPORTS POSITIVE PRECLINICAL RESULTS FOR A NOVEL, BROADLY CROSS-PROTECTIVE H5N1 PANDEMIC INFLUENZA VIRUS-LIKE PARTICLE (VLP) VACCINE CANDIDATE

[09:38] {dino} amed stop to .51 yesterdays leftover

[09:38] {dino} pout slipped .49, +.99

[09:39] {Threei}  STT, pullback into 24.20 area will be interesting

[09:39] {magoo} c'mon bulls hold

[09:39] {Threei}  missed it

[09:40] {_redcat} ss orly 31.29

[09:41] {ese} L NIHD

[09:41] {Threei}  AKAM

[09:41] {ese}  1/2.72

[09:41] {Threei}  18.02 long if stays above 17.85

[09:42] {dino} celg strong

[09:44] {ese} out NIHD avg .93

[09:44] {ese}  +.21

[09:44] {Threei}  AKAM half out

[09:44] {Threei}  .19

[09:45] {Threei}  stop to .95

[09:45] {Threei}  offering 1/4 more .29

[09:46] {Threei}  taken

[09:46] {Threei}  last portion is still with stop under 18

[09:46] {cujo} great call.

[09:46] {Threei}  offering .41

[09:49] {ese} dino ITRI...wha da ya make of it?

[09:49] {ese} double botom.....

[09:49] {dino} missed earns last night

[09:50] {ese} no strength to bounce probably

[09:50] {dino} like it better around lod

[09:51] {Threei}  DEALERS NOTING THAT NUMEROUS SOVEREIGN CREDIT DEFAULT SWAPS CONTINUE TO HIT FRESH ALL-TIME HIGHS

[09:51] {Threei}  - US 5-year CDS at 96.6 bps

[09:51] {Threei}  - German 5-year CDS at 87.2

[09:51] {Threei}  French, Austrian, Finnish 5-year CDS also at record levels

[09:52] {nemo} oy...look at the difference...not good

[09:52] {dino} out celg .08, +.46

[09:52] {Threei} Short Setup: CAT  .64

[09:52] {Threei}  if stays below .80

[09:53] {ese} Bstop  WFMI .51

[09:53] {dino} rimm larisa

[09:54] {dino} amed gap fill from open

[09:54] {larisa} do not want to short it, will scalp on bounces

[09:54] {ese} filled .50 full lot

[09:54] {Threei}  CAT stop .75

[09:54] {dino} ahhh yes, music to my ears

[09:55] {dino} 40.60s

[09:55] {larisa} nice

[09:55] {ese} lots of resistance at .50 wfmi

[09:56] {dino} no, waiting there

[09:56] {dino} bmrn es?

[09:57] {dino} pretty good haircut

[09:58] {ese} was looking at that to dino...whats your take

[09:58] {dino} feeling bad for bauges

[09:58] {Threei}  AKAM stop to under .10 for the last 1/4

[09:58] {dino} 12.25 area sm

[09:58] {dino} no too low, 12.60s

[09:58] {ese} ok  i'll give that a shot

[09:59] {Threei}  cover half CAT

[10:00] {dino} itri wow, nice bounce

[10:00] {Threei}  JAN LEADING INDICATORS: 0.4% V 0.1%E

[10:00] {Threei}  FEB PHILADELPHIA FED INDEX: -41.3 V -25E

[10:01] {Threei}  stop to b/e for the balance

[10:01] {nemo} HIG plunging

[10:01] {ese} stopped WFMI -.15

[10:01] {Threei}  bid 1/4 more CAT .36

[10:02] {Threei}  and trail stop to just above .60

[10:02] {dino} amed sm l .82

[10:02] {fernp} grat call Vad. ty

[10:02] {Threei}  :)

[10:03] {buyemsellem} great call thanks

[10:03] {cujo} nice one.  

[10:03] {Threei}  welcome guys

[10:05] {Threei}  .36 bid hit

[10:05] {Threei}  stop for the last portion is .56

[10:05] {dino} 30 fixed at 5% and politicians say t too high, geeze i built at 9.5%

[10:06] {Threei}  bidding .21 last portion

[10:07] {Threei}  stop to above .50

[10:08] {Onix} ty Vad, got some in CAT

[10:08] {Threei}  stop to .46

[10:08] {Threei}  onix :)

[10:09] {Threei}  changing last cover, want to leave 100 shares

[10:10] {Threei}  direct hit on .21

[10:11] {Threei}  not sure yet what I want from that last 100 shares

[10:11] {dptl} ty cat +.16    +.46

[10:11] {pita} very nice call 

[10:11] {Threei}  dp :)

[10:11] {Threei}  stop is above .40 for those

[10:12] {pita} small sh only but ty

[10:12] {Threei}  pita :)

[10:12] {larisa} i had a dream today that market opened at -800 :) may be it will close there, keep 100 shares :)

[10:13] {Threei}  "I have a dream"...

[10:13] {nemo} ohoh

[10:13] {ese} missed BMRN...was watching something else...you in dino

[10:13] {dino} itri buck drop fast

[10:13] {dino} no waited at .51 no fill

[10:14] {dino} still waiting

[10:14] {Threei}  stop to above .30

[10:14] {cujo} u still short Vad??

[10:15] {Threei}  [10:09] {Threei} changing last cover, want to leave 100 shares

[10:15] {Threei}  had 300 left, covered 200 at .21

[10:15] {cujo} ahh, i thoght the "direct hit .21" was your last lot....  got ya

[10:15] {Threei}  sharp down with big volume

[10:15] {cujo} very nice play

[10:16] {Threei}  stop to .16

[10:17] {dino} es thoughts itri?

[10:19] {dino} ndx negative

[10:20] {ese} just takin a look 

[10:20] {ese} big double bottom

[10:21] {ese} volume not big enough for a bounce ....

[10:22] {ese} seems like it's stalled

[10:22] {dino} bmrn sm l .40

[10:23] {dino} nice range .70s-.20s itri

[10:25] {ese} seems to be hangin in the 

[10:25] {ese} if any of the indexes bounce it could go

[10:26] {ese} aww what the heck L ITRI .13 small

[10:26] {larisa} vad, interested in HIG bounce and where if at all? ty

[10:28] {Threei}  watching it but not sure yet

[10:28] {larisa} k

[10:29] {Threei}  8.90 is obvious setup but I don't like the stop being that wide

[10:29] {Threei}  and market bounce is not convincing at all

[10:29] {nemo} if CAT get's closer to 27.80 another short set up?

[10:30] {Threei}  formally yes... just much higher risk

[10:30] {nemo} ty

[10:31] {ese} stopped ITRI  

[10:31] {ese} -.20

[10:31] {dino} fast fall

[10:32] {magoo} GSdidnt even sell in that mkt drop fwiw

[10:33] {magoo} any read GS HAWK?

[10:33] {ese} yup $60 trial and error

[10:34] {dino} bmrn stopped .07 -.33

[10:35] {hawkfan4} not here, if market turns then .65 break, otherwise could fill the gap to 85

[10:35] {Threei}  STT

[10:35] {Threei}  half lot long .56

[10:35] {Threei}  just a scalp

[10:35] {nemo} too fast

[10:36] {cujo} caught .06

[10:36] {Threei}  good reflexes

[10:37] {pita} stop STT?

[10:37] {nemo} .40?

[10:37] {Threei}  just under

[10:38] {hawkfan4} 87 support for GS bounce mags, not in

[10:38] {Threei}  it went about 10 cents from entry and was designated as a scalp

[10:39] {Threei}  stop to above 28 CAT

[10:39] {hawkfan4} in .30, stop .10

[10:41] {nemo} CAT dancin' at the precipice-bear trap Vad?

[10:41] {magoo} ok hawk..not ion yet

[10:41] {Threei}  I've no idea

[10:42] {Threei}  at this point I just manage the trade

[10:42] {Threei}  trailing stop to above last resistance

[10:42] {Threei}  and letting it decide what to do

[10:42] {nemo} just wondering on umbrella principle?

[10:42] {Threei}  nah, I wouldn't do it on this trade

[10:43] {nemo} too much radical action on the stock?

[10:43] {Threei}  it's too far from original entry, risk rises as moves stretches

[10:44] {hawkfan4} HPQ .46, stop .35

[10:45] {hawkfan4} out GS .69

[10:45] {magoo} nice read hawk

[10:46] {dino} gj

[10:46] {hawkfan4} thx  if it breaks .80 should keep going, but it's right at the 20 sma 1 minute

[10:47] {dino} bmrn rinse r roni

[10:51] {larisa} hard to read reversal, did not get it

[10:51] {dino} sm l itri .60 risky

[10:53] {Threei}  OK

[10:53] {Threei}  now I know what I want fro CAT

[10:53] {Threei}  $1 or more

[10:53] {nemo} heheheheh

[10:53] {Threei}  been a while since I get a full dollar win

[10:54] {nemo} last week?

[10:54] {Threei}  if so I don't remember

[10:54] {Threei}  I have multiple challenges you see... gotta fight moth-like memory span on top of everything else

[10:55] {Threei}  come to me deat CAT

[10:55] {Threei}  dear that was

[10:55] {nemo} Shirley you jest?

[10:56] {hawkfan4} no, i'm serious, and stop calling me Shirley

[10:56] {Threei}  lol

[10:56] {nemo} I knew somebody saw the movie

[10:56] {Threei}  yessssss

[10:56] {Threei}  .65 hit

[10:56] {Threei}  covered for +1

[10:56] {cujo} geezzzz......    

[10:56] {Threei}  can I go home?

[10:56] {cujo} No

[10:56] {nemo} You'll have to get a silk sling for that arm, Vad  NO!

[10:56] {hawkfan4} nice one

[10:57] {Threei}  come on, two trades, both more than scalp

[10:57] {Threei}  never even hinted at jeopardizing stop

[11:00] {Threei}  DOE CRUDE: -138K V +3ME; GASOLINE: +1.1M V -500KE; DISTILLATES: -813K V -1.5ME

[11:00] {nemo} and gas prices are still going up...go figure

[11:01] {hawkfan4} GS .55, stop .30

[11:01] {hawkfan4} small

[11:01] {hawkfan4} that was fast

[11:02] {hawkfan4} rinse cycle

[11:03] {dino}  random swings again today

[11:11] {dino} apol

[11:19] {dino} .

[11:21] {dino} orly

[11:24] {dino} http://investorscoalition.blogspot.com

[11:24] {dino} trader tax pending

[11:26] {Threei}  has zero chance of passing, IMO

[11:26] {hawkfan4} i hate politicians

[11:26] {cujo} ditto

[11:28] {cujo} ss HIG .99

[11:31] {dino} just a bunch of lawyers that couldn't make it

[11:32] {dino} education stocks bloody today, cpla, apol, etc

[11:33] {dino} out itri .20, +.60

[11:35] {larisa} gj

[11:39] {dino} ty

[11:40] {dino} out amed .14, +.32

[11:43] {dino} es apol?

[11:43] {dino} 6 point range

[11:46] {ese} hmmmmmmm

[11:46] {Threei}  HIG is not dropping with this market drop

[11:46] {hawkfan4} was just looking at that

[11:47] {Threei}  watching for 9 break with market bounce

[11:47] {cujo} y, covered my short.

[11:47] {hawkfan4} 9 break 

[11:48] {Threei}  BAC under 4...

[11:48] {dino} c 2.5

[11:48] {ese} long at 79 dino

[11:49] {ese} L apol sm .00

[11:49] {Threei}  looking at them plus FAS... market really thinks next step will be nationalization of banks eh?

[11:50] {dino} ndx 1172 and s/p 780 lows yesterday

[11:50] {dino} 7479 dji

[11:51] {dino} ok es

[11:51] {ese} increased apol to 1/2 avg .06

[11:51] {dino} i am at 78.50 waiting

[11:52] {dino} gutsiest move i ever saw maverick

[11:53] {nemo} Permission for flyby

[11:53] {nemo} watch your coffee

[11:53] {dino} denied

[11:53] {nemo} VVVVVVVVRRRRRRRRRRRRROOOOOOOOOOOOOOOOOOOOOMMMMMMMMMMMM!!!!!!!!!!

[11:53] {dino} nice trade

[11:54] {ese} out apol .36

[11:54] {ese}  +.30

[11:54] {ese} tks dino

[11:54] {dino} vz opening gap at .07, waiting for fill

[11:54] {magoo} god dam that guy{as wipe coffee off shirt}

[11:55] {dino} you've lost that luvin' feeling

[11:56] {ese} apol comin down your way dino

[11:56] {dino} fwiw waiting on apol, watching itri, bmrn again

[11:56] {dino} missing lots of entries as i'm in bear market wait for them mode

[11:57] {_redcat} out PTEN 1/2 +.09

[11:57] {hawkfan4} watching HPQ again, support .28

[11:57] {larisa} btw today is International disturbed people's day :)

[11:57] {dino} ahhh, that explains my luck

[11:57] {hawkfan4} really?  then i should have the day off

[11:58] {larisa} lol

[11:58] {hawkfan4} :)

[11:58] {Threei}  you ashorted it redcat?

[11:58] {_redcat} yes

[11:59] {dino} red cat brings back memories

[11:59] {dino} hhj hazlet horny juice, hazlet's winery

[11:59] {dino} ny finger lakes

[11:59] {dino} ok apol sm off of .50 risky

[12:00] {pita} GS bounce area 86.25?

[12:00] {dino} all things considered itri held at .50 this time around

[12:01] {dino} wanted lod

[12:02] {dino} certain stocks getting stronger, amed, itri, bmrn

[12:06] {dino} dji pounding yesterdays low

[12:06] {nemo} HIG dropping now

[12:06] {dino} not good according to "hammer" theory

[12:08] {dino} apol stopped -.33

[12:11] {magoo} hawk..GS read here please

[12:11] {ese} a bounce off of these index levels would be a strong double bottom...

[12:12] {hawkfan4} no read really, stop would be under 85.80

[12:13] {hawkfan4} HPQ .31, stop .19

[12:13] {dino} vz gap fill

[12:14] {_redcat} out AMZN +.70

[12:14] {Threei}  nice trading

[12:14] {Threei}  ese... problem is, there is slightest sign of bounce

[12:15] {_redcat} thnk u...flattens my ORLY blunder

[12:16] {ese} ya....looks like it's going to go through them

[12:18] {dino} gj red

[12:19] {Threei}  ummm... there is NO sign of bounce

[12:20] {magoo} a bounce coming here

[12:21] {laserdave} magoo dcc please

[12:25] {_bobv} hi

[12:25] {Threei}  hi bob

[12:29] {dino} gm bob

[12:32] {Threei}  SOUTHERN CALIFORNIA HOME SALES ROSE 53% IN JANUARY - DATAQUICK

[12:32] {dino} apol monster rinse

[12:32] {hawkfan4} FAS .45, stop under .40

[12:34] {dino} shoot rimm 40s and i forgot to watch it

[12:40] {Threei}  nice one on FAS

[12:41] {hawkfan4} thx, little inverse h/s on 1 min, got in a little early

[12:41] {Threei}  scalping it or you want more?

[12:41] {cujo} Thanks Hawk

[12:41] {cujo} little scalp

[12:42] {hawkfan4} more i think, get that feeling like they can't break it so they'll have to buy it

[12:43] {nemo} still lunchtime...might only be able to get a scalp out of it

[12:43] {hawkfan4} true

[12:49] {Threei}  who wants a few minutes of rest from watching the market,

[12:49] {Threei}  http://www.cnbc.com/id/15840232?video=1039849853&play=1

[12:50] {dino} slacker

[12:51] {wulff} check out the action on RE

[12:53] {dino} bmrn approaches lod

[12:54] {cujo} Obama plan suspect at best...

[12:56] {Threei}  RIMM

[12:56] {Threei}  HEARING STRENGTH ATTRIBUTED TO POSITIVE COMMENTS FROM AMTECH (TIMING UNCERTAIN)

[12:57] {Threei}  AAPL

[12:57] {Threei}  DOWNGRADED TO SELL FROM NEUTRAL AT MF GLOBAL (TIMINIG UNCERTAIN)

[12:58] {hawkfan4} more time filler :  http://www.youtube.com/watch?v=h05ZQ7WHw8Y

[12:58] {Threei}  RIMM should be bouncable off .40 - .50

[12:59] {dino} itri approaches lod

[13:02] {Threei}  watch market bounce for RIMM entry

[13:03] {Threei}  in, stop under .40

[13:07] {magoo} vad was there news HIG?

[13:07] {Threei}  nope

[13:07] {magoo} i mean..its pummeled

[13:07] {Threei}  half out .63, scalpers take profit

[13:08] {magoo} whats your mkt "feel"for today vad?

[13:08] {Threei}  out RIMM in full .74

[13:08] {Threei}  easy money

[13:08] {Threei}  anyone?

[13:08] {cujo} y

[13:08] {Threei}  :)

[13:08] {cujo} .10+

[13:09] {jmb} thanks

[13:09] {cujo} thanks

[13:09] {Threei}  welcome guys

[13:09] {Threei}  I don't really have any today mags

[13:09] {Threei}  not yet at least

[13:09] {dawg} +.14 ty sir

[13:09] {Threei}  :)

[13:09] {magoo} usually..u have  like feel as close up..or setting up

[13:09] {Threei}  don't you love it when they are so predictable

[13:09] {magoo} ty RIMM btw

[13:10] {Threei}  entry point was clear way in advance

[13:10] {dino} up into close, opt exp tomorrow, no up yet this week

[13:10] {Threei}  PRU

[13:10] {Threei}  FITCH CUTS RATINGS

[13:11] {Threei}  PRU troubles are weighing on HIG

[13:11] {dino} buying financials is like playing russian roulette

[13:11] {Threei}  (not that HIG lacks its own troubles mind you)

[13:11] {Threei}  yeah

[13:12] {wulff} buy more rimm under .60?

[13:12] {Threei}  but while your Prez is in Canada, they are i=unlikely to anounce anything drastic

[13:12] {Threei}  so consider us a stabilizing fdactor for today :)

[13:12] {Threei}  looks right wulff

[13:12] {Threei}  but watch market

[13:13] {Threei}  gotta have bounce in NA for RIMM to play out

[13:13] {Threei}  in NQ

[13:14] {wulff} in .60 S .40

[13:15] {hawkfan4} brb

[13:15] {Threei}  UBS

[13:15] {Threei}  ANNOUNCES IT INTENDS TO CHALLENGE ENFORCEMENT OF THE IRS' "JOHN DOE" SUMMONS

[13:15] {Threei}  - earlier today the IRS sued to bank to reveal the names of US account holders

[13:17] {Threei}  I would keeop stop under .50 on this entry, wulff

[13:17] {wulff} ko

[13:17] {Threei}  lower BB came into .50

[13:17] {Threei}  and you are nicely over 1:1

[13:18] {wulff} muffled excitment

[13:18] {larisa} freaking HIG, 2 stops before giving me nice trade.

[13:18] {dino} itri sm l .50

[13:18] {Threei}  beautiful RIMM

[13:19] {dino} gj

[13:19] {wulff} VAD i'm in UNH at .40, offer balance at .80?

[13:19] {Threei}  (US) ENERGY SECRETARY CHU: DOE PLANS TO SPEND 70% OF STIMULUS FUNDING BY 2010, WILL AIM TO APPROVE SPENDING PROJECTS FROM STIMULUS BY EARLY SUMMER OF 2009

[13:20] {Threei}  you already partialed?

[13:20] {wulff} .60

[13:20] {Threei}  I'd move stop to .55

[13:20] {Threei}  and look for spike over .80 to exit

[13:21] {wulff} ty

[13:21] {nemo} Hawk-still holding?

[13:23] {Threei}  dump RIMM here and dance

[13:30] {wulff} here comes .80 in UNH

[13:31] {Threei}  I'd move stop to .65

[13:31] {Threei}  or .59

[13:31] {Threei}  hard to tell which is better, just different degrees of conservatism

[13:33] {wulff} .61

[13:33] {wulff} good shake in RIMM

[13:35] {dino}  bm,rn sm l .25

[13:36] {dino} bmrn

[13:38] {wulff} held .65

[13:40] {Threei}  looking for sharp drop RIMM to grab for bounce scalp

[13:40] {Threei}  probably closer to .30

[13:42] {Threei}  PRU

[13:42] {Threei}  REPORTEDLY LOSES ELIGIBILITY FOR A COMMERCIAL PAPER PROGRAM DUE TO FITCH DOWNGRADE

[13:43] {Threei}  serious dump PRU

[13:44] {nemo} disembowlment

[13:44] {nemo} should be going for tarp any time now

[13:46] {dino}  already did 1st time around

[13:46] {dino} trv, cigna, and met big ones that did not, i think

[13:46] {dino} no, cig did, chubb didn't

[13:47] {Threei}  here comes RIMM selloff

[13:47] {Threei}  PRU looks shovel-ready

[13:47] {dino} pru 13.10 52 week low

[13:48] {Threei}  MOODY'S REVISES OUTLOOK FOR US TECH HARDWARE SECTOR TO NEGATIVE

[13:48] {dawg} RIMM scalp in .32 out .42

[13:48] {Threei}  :)

[13:49] {dawg} ty Va

[13:49] {dawg} Vad

[13:49] {Threei}  they are easy when you get their rtyhm eh?

[13:49] {dawg} Yessir they are

[13:50] {dino} moodys reminds me of cramer, last summer all was well according to them

[13:50] {Threei}  so very true

[13:51] {dawg} ){

[13:51] {wulff} .80 Stop .68

[13:51] {dino} itri filling dec gap

[13:53] {Threei}  over .80, wulff... I am done looking at it

[13:53] {Threei}  good trade, congrats

[13:53] {wulff} ty

[13:54] {dino} gj

[13:55] {Threei}  mags... to answer your question earlier... down

[13:56] {Threei}  my eod bet is triple digits red

[13:56] {larisa} lol

[13:56] {Threei}  don't lol me

[13:57] {Threei}  make your bet

[13:57] {dino} triple digits green

[13:57] {larisa} my dream told me -800.  so i am with you :)

[13:57] {larisa} wow dino

[13:58] {dino} more like a nightmare

[13:58] {Threei}  lol, no kidding

[13:58] {Threei}  what kind of dream is that

[13:59] {Threei}  one must have had a quart of milk expired month ago to have it

[13:59] {Threei}  with hot dog made during Prohibition

[13:59] {larisa} if you do, you will not sleep at all silly

[14:00] {Threei}  could be... I don't have any personal experience {G}

06[14:00] * larisa slaps Threei around a bit with a large trout

[14:00] {Threei}  FED'S LOCKHART: ODDS TOWARDS BANK NATIONALIZATIONS ARE SUBSTANTIALLY LOWER - Q&A

[14:00] {Threei}  lower than when?

[14:00] {Threei}  or than what

[14:02] {nemo} well I guess FAS heard that comment

[14:02] {Threei}  FED'S LOCKHART: RECESSION WILL MOST LIKELY CONTINUE THROUGH THE FIRST HALF OF 2009; MODEST RECOVERY IS POSSIBLE IN SECOND HALF OF 2009, BUT ANY RECOVERY FACES NUMEROUS HEADWINDS

[14:02] {Threei}  - Consumers are being helped by lower energy prices

[14:02] {Threei}  - Monetary policy is still helping the US economy

[14:02] {Threei}  - The big inventory pullbacks will help boost production in the future

[14:02] {Threei}  - Lower mortgage rates are aiding housing, although housing is still burdened by excess inventory.

[14:02] {Threei}  - Financial sector remains troubled, but there are modest signals that the sector is improving a bit.

[14:04] {Threei}  FED'S LOCKHART: CHANCES FOR BANK NATIONALIZATIONS ARE SUBSTANTIALLY 'OFF THE TABLE FOR NOW' - Q&A

[14:04] {Threei}  for now?

[14:04] {Threei}  FAS fainted

[14:05] {dino} m2m is the "key"

[14:05] {Threei}  I guess it's coming

[14:05] {Threei}  they tried almost all remaining keys

[14:05] {Threei}  nothing helps

[14:05] {Threei}  so, m2m and bad bank are almost all left

[14:07] {nemo} It's gettin' off the mat

[14:07] {dino} brb

[14:07] {magoo} buffets down another 350 million today in afc and wfc

[14:08] {larisa} it is like $35 for us, nothing :)

[14:09] {nemo} Yeah, that's a half hour of drinks

[14:10] {Threei}  35? nothing?

[14:10] {Threei}  come on... I am crying for hours if I lose %35

[14:10] {Threei}  $35

[14:10] {nemo} You have issues

[14:11] {larisa} i am not, I am much stronger than you mentally

[14:11] {Threei}  hmmm... people keep telling me that

[14:11] {Threei}  which makes me cry more

[14:12] {nemo} ruff tuff immigrant...you've been here to long

[14:12] {Threei}  no, I actually got better... before immigration my crying treshold was $15

[14:20] {hawkfan4} ok, who killed my rally while i was gone

[14:20] {nemo} It's Larisa's fault

[14:20] {Threei}  we also moved your cheese

[14:21] {Threei}  and poured ink into washer

[14:21] {nemo} put Gold Bond in your jock strap

[14:21] {hawkfan4} i'm more concerned about the cheese

[14:22] {nemo} Whoa! that Santili rant at the top of Drudge

[14:27] {dino} watching cpla, apol

[14:28] {Threei}  wth USO

[14:31] {dino} sm apol l .60

[14:33] {Threei}  CAT just slides down

[14:33] {Threei}  when we shorted it first time three days ago, we could just hold it and go sleep :)

[14:33] {nemo} armchair quarterbacking?

[14:34] {Threei}  yup, I am very good at that

[14:34] {nemo} how can you throw with that arm?

[14:35] {dino} idcc

[14:44] {Threei}  anyone's up for serious adrenalin overload?

[14:44] {cujo} y

[14:44] {cujo} sleepy

[14:45] {nemo} of course...the rabid dog

[14:45] {Threei}  PRU... .50 break short

[14:45] {Threei}  one thing I promise:

[14:45] {Threei}  you won't be sleepy

[14:46] {Threei}  your guy and our guy give press-conference

[14:46] {nemo} huh?

[14:47] {Threei}  our guy speaks french... yours is looking at him with face expression you should see

[14:47] {nemo} oh...

[14:47] {Threei}  it's on CNN actually

[14:48] {larisa} and CNBC

[14:48] {nemo} I'll wake up the cats

[14:49] {Threei}  switch to english already, whole USA will think Canada speaks French

[14:49] {Threei}  finally

[14:49] {nemo} most of US doesn't know where canada is

[14:50] {Threei}  thta could well be true... trying to place an order with one NY company once I was told "sorry, we do not ship overseas"

[14:51] {nemo} No way...pru going up?

[14:51] {nemo} Hear that...a great pleasure to be in Iowa

[14:51] {Threei}  GE touched under 10

[14:52] {dino}  does a day every go by w/o an obama speech?

[14:53] {Threei}  kidding? it's a new economic engine

[14:53] {nemo} he'll have to buy carbon credits

[14:54] {dino} lol

[14:54] {nemo} subtle...huh?

[14:55] {Threei}  not really but who am I to judge subtlety

[14:56] {nemo} that's right...though...sensitivity has never been my strong suit...ask you ex's...

[14:56] {nemo} ask my ex's

[14:57] {nemo} look @ PRU!

[14:58] {Threei}  never triggered on a short side, so went up

[15:01] {magoo} vad..ill re-ask that question here

[15:02] {Threei}  [13:55] {Threei} mags... to answer your question earlier... down

[15:06] {magoo} felt like we were going up there

[15:08] {dptl} have a good evening all :)

[15:08] {Threei}  NQ loses 1170, market is toast

[15:08] {Threei}  take care dp

[15:09] {Threei}  28.80 in Qs terms

[15:10] {magoo} ok

[15:10] {nemo} hair's breadth

[15:11] {Threei}  holding by fingertips

[15:12] {nemo} FAS testing lows

[15:12] {Threei}  under

[15:12] {nemo} ohoh

[15:12] {nemo} quick hide the women and children!

[15:12] {Threei}  my triple red is coming

[15:12] {dino} ok, new lows 

[15:13] {dino} 7449 nov low, 1018 (far away), and 741 

[15:13] {nemo} How low can you go?

[15:15] {nemo} Cramer's ranting against Santili

[15:16] {hawkfan4} now i know for sure Rick was right

[15:16] {Threei}  lol

[15:20] {dawg} RIMM scalp in .73 out .83

[15:20] {Threei}  careful with bounces guys

[15:20] {dawg} K

[15:21] {Threei}  guts say, cruel flush is coming

[15:21] {Threei}  in fact, I'd see to short RIMM

[15:27] {Threei}  ok... guts wrong

[15:27] {dino} ppt steps in

[15:27] {magoo} you r skerrin me

[15:27] {nemo} There's still time

[15:27] {Threei}  little short RIMM

[15:28] {Threei}  .24, stop above .30

[15:28] {Threei}  half out .12

[15:28] {nemo} too quick for me

[15:30] {Threei}  never played RIMM with 7 cents stop before

[15:32] {Threei}  out 1/4 more

[15:32] {Threei}  42.01

[15:33] {Threei}  FAS new low

[15:34] {Threei}  market selling accelerates

[15:34] {Threei}  I still may win that bet

[15:34] {nemo} [15:27] {nemo} There's still time

[15:35] {nemo} Of course Meredith Whitney is on saying banks are screwed

[15:35] {wulff} AAPL +50

[15:35] {wulff} .50

[15:36] {Threei}  beautiful

[15:36] {Threei}  fas

[15:36] {nemo} you scalp it?

[15:36] {Threei}  ?

[15:37] {Threei}  beautiful was to wulff's trade

[15:37] {wulff} Shorted scalp

[15:37] {nemo} oh

[15:37] {wulff} .70-.22

[15:37] {Threei}  fas was typed in a wrong window

[15:37] {Threei}  MEREDITH WHITNEY: WOULD BE A SELLER OF CITIGROUP, EVEN AT THESE LEVELS - CNBC COMMENTS

[15:37] {Threei}  {C}

[15:39] {dino} who is this meredith gal?

[15:40] {dino} s/p -11% since 02/09/09

[15:40] {nemo} Bank analyst...she's been nailing it since the debacle started

[15:40] {Threei}  triple red

[15:40] {Threei}  HIG lower and lower

[15:40] {larisa} famous oppenheimer girl who predicted banks crisis

[15:40] {dino} ok, thx

[15:40] {_bobv} yes, triple digit red

[15:40] {Threei}  FAS frikin 5

[15:41] {nemo} was 5

[15:41] {Threei}  DOW JONES INDUSTRIAL BREAKS BELOW NOV 21ST INTRADAY LOWS OF 7,449.38

[15:42] {Threei}  can I start those gestures, you know... drumming the chest...

[15:42] {Threei}  patting the back

[15:42] {nemo} You mean you stopped?

[15:42] {nemo} When?

[15:42] {Threei}  not really,

[15:42] {Threei}  but I never revealed I did it

[15:42] {Threei}  so now I asm trying to officiate it

[15:43] {dino} we must start to contrary trade my "gut"

[15:44] {Threei}  jokes aside, I am fairly proud of how we handled this week

[15:44] {Threei}  I don't believe many can say they run close to 100% these days

[15:44] {_bobv} sp futures rebound

[15:45] {buyemsellem} yes, great week

[15:45] {Threei}  closed last portion RIMM

[15:45] {nemo} ppt struck...it's only Thursday

[15:45] {cujo} good week, good day

[15:45] {Threei}  what PPT...

[15:45] {Threei}  myth

[15:45] {nemo} whatever...bye Santa

[15:46] {Threei}  wait... I have something to tell you about Easter bunny too

[15:47] {wulff} could have range traded AAPL all afternoon

[15:47] {dino} radical thought, everybody on tv says we are going to hell. contrary trade is up. could be double bottom in the making

[15:47] {dino} patience????

[15:48] {Threei}  now you are talking like I did yesterday dino... remember my dilemma?

[15:48] {dino} bacon or salad?

[15:48] {dino} no, seriously

[15:48] {Threei}  that one is no a dilemma

[15:49] {nemo} sob look at FAS

[15:49] {Threei}  I said yesterday, I was torn on the market,

[15:49] {Threei}  chart is absolutyely breakdownish

[15:49] {Threei}  and NOV lows is total magnet

[15:49] {Threei}  but everyine says we are going to break down

[15:49] {Threei}  and it can't be just that easy

[15:50] {dino} ahhhh

[15:50] {dino} great cloudy minds think alike

[15:50] {Threei}  lol

[15:50] {dino} i just have a hard time following the crowds

[15:50] {Threei}  tell me about it

[15:51] {Threei}  unless it's a crowd of short skirts and high heels

[15:52] {nemo} drag queens?

[15:52] {dino} indeed, no problem there

[15:52] {dino} s's over n's today unusual

[15:52] {Threei}  nemo, dino said cloudy minds, not dirty

[15:53] {nemo} mushroom clouds are dirty

[15:53] {dino} no drag queens

[15:55] {wulff} see ya'll

[15:55] {Threei}  okay guys

[15:55] {Threei}  thank you all

[15:55] {Threei}  have a good evening

[15:55] {larisa} bye

[15:55] {Threei}  see you tomorrow

[15:55] {nemo} P&Q

[15:55] {dino} esi ouch

[15:56] {fernp} good evening