Mar 12 2009

Strong and relatively easy day. Long plays on GE, FAS, BAC, RIMM, STT... need I say more?

 

Session Time: Thu Mar 12 00:00:00 2009

[08:00] {nemo} Gruess Gott Herrn K!

[08:02] {Threei}  good morning

[08:02] {nemo} Vad :)  assignment completed

[08:02] {nemo} get your flowers?

[08:02] {Threei}  thank you :)

[08:03] {Threei}  yes but sent them back with card "next time let it be vodka"

[08:03] {nemo} My sentiments exactly...takes too long to turn them into vodka

[08:04] {nemo} FAS already moving 

[08:05] {Threei}  just trying to close the gap

[08:19] {KSystems} hi :)

[08:21] {nemo} geht dir gut?

[08:21] {Threei}  ks :)

[08:22] {magoo} morning

[08:22] {Threei}  magoo :)

[08:22] {nemo} hi mags

[08:22] {magoo} anything stalking pre mkt?

[08:23] {Threei}  not really clear whether this gap down is a small pullback or reversal

[08:24] {magoo} did we close up like 9 yesterday?

[08:24] {Threei}  even less

[08:25] {Threei}  4 or 5

[08:25] {nemo} slightly up, good consolidation day

[08:25] {Threei}  [15:58] {Threei} FAS closes differently today

[08:25] {Threei}  [15:58] {Threei} yesterday it closed at the highg

[08:25] {Threei}  [15:58] {Threei} today retreated half way

[08:25] {Threei}  [15:59] {Threei} not taking it overnight

[08:27] {Threei}  interestingly, with all the hedlines about m2m change not being considered, more and more noize about necessity to change it

[08:29] {nemo} It would allow them to put new facades on the Potemkin Villages.  When you get down to it, there are only mathematical models to value those CDOs. It's not like you can analyze one of them to tell exactly what's in there

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 654K V 644KE; CONTINUING CLAIMS: 5.317M V 5.140ME

[08:30] {Threei}  - Prior jobless claims revised from 639K to 645K

[08:31] {nemo} FAS just popped on that

[08:31] {Threei}  *FEB ADVANCE RETAIL SALES: -0.1% V -0.5%E; LESS AUTOS: 0.7% V -0.1%E

[08:31] {Threei}  - Prior Advance Retail Sales revised from 1.0% to 1.8%

[08:31] {Threei}  - Prior Less Autos revised from 0.9% to 1.6%

[08:31] {nemo} increases?

[08:38] {Threei}  the only piece of good news in that is, without autos consumption is increased

[08:38] {Threei}  market must be really desperate for any good news

[08:39] {nemo} Yeah, which has already been discounted as post Xmas spending and an adjustment in government wages, because they get automatic raises

[08:39] {Threei}  you put too much significance in such relic as facts {G}

[08:40] {nemo} Yes, history is merely a fantasy upon which we all agree...so just watch the price action?

[08:42] {Threei}  what else is there

[08:42] {Threei}  at least it's truth,

[08:42] {nemo} No argument here

[08:42] {Threei}  and it's up to us how good we are at understanding it

[08:43] {nemo} Breakin' out the tarot cards

[08:43] {Threei}  at the same time the chatter is not to be dismissed completely,

[08:43] {Threei}  it's the moment when price action contradicts the chatter when the best trading opportunity arises

[08:44] {Threei}  if you remember, a week or so ago

[08:45] {Threei}  cosmo's call on PALM

[08:45] {Threei}  when bad news premarket caused initial gap diwn, then it climbed bad to flat and broke out

[08:45] {Threei}  that was typical price-information divergence

[08:46] {Threei}  umm... climbed BACK to flat... my typing this morning...

[08:47] {Threei}  anyway, I have at least 3 articles in blog on that

[08:47] {Threei}  History Teaches Us, Price-Information Divergence and Trader's Job

[08:48] {Threei}  and my first session on seminar in Bahamas will be about that

[08:48] {Threei}  not too late to buy tickets yet

[08:49] {pita} gm all

[08:49] {Threei}  not you magoo

[08:49] {Threei}  pita :)

[08:57] {Threei}  morning cosmo

[08:58] {cosmo} still?

[08:58] {Threei}  yes

[08:58] {Threei}  I complimented you a few lines back

[08:58] {cosmo} checking

[08:58] {cosmo} oh

[08:58] {Threei}  but you'll have to wait for the trading log to be posted after market to read it

[08:58] {cosmo} gotcha

[08:58] {Onix} Good morning al

[08:58] {cosmo} sigh

[08:58] {Threei}  onix :)

[08:58] {Threei}  FAS in back to flat

[08:59] {_paliyad2009} goodMorning

[08:59] {nemo} [08:44] {&Threei}  if you remember, a week or so ago

[08:59] {nemo} [08:44] {&Threei}  cosmo's call on PALM

[08:59] {nemo} [08:45] {&Threei}  when bad news premarket caused initial gap diwn, then it climbed bad to flat and broke out

[08:59] {nemo} [08:45] {&Threei}  that was typical price-information divergence

[08:59] {Threei}  palliyad :)

[08:59] {Threei}  awww

[08:59] {Threei}  nemo, why would you do that

[08:59] {Threei}  I wanted to torture him for the whole day

[08:59] {nemo} I like cosmo :)

[08:59] {nemo} Vad evil

[08:59] {nemo} Darth Vad

[08:59] {Threei}  I do too

[09:00] {Threei}  but it has nothing to do with anything

[09:00] {cosmo} that was a 'bad' climb though

[09:00] {Threei}  I simply need to torture someone in order to wake up

[09:00] {nemo} torture...I'll go politically correct on you

[09:00] {nemo} FAS closed gap

[09:01] {Threei}  palliyad, you can login without underscore

[09:03] {cosmo} gee ...today it might be STLD.... but not to get fat headed about it....

[09:03] {Threei}  STLD is looong way from yesterday's close price

[09:04] {cosmo} it warned

[09:04] {_paliyad2009} thanks also like to change it to vinod

[09:04] {nemo} hi vinod

[09:04] {Threei}  same password?

[09:05] {_paliyad2009} yes

[09:05] {_paliyad2009} hi nemo

[09:06] {dptl} good morning

[09:07] {Threei}  give me a few please, I'll tell you when it's registerted

[09:07] {Threei}  dp :)

[09:12] {Threei}  GE

[09:12] {Threei}  CUT AT SP

[09:13] {dino} gm all

[09:13] {Threei}  dino :)

[09:13] {nemo} dino :)

[09:15] {cosmo} STLD needs to hold 6.95   imo

[09:17] {dino} :)

[09:17] {Onix} ge gets cut 

[09:17] {Threei}  marke is honestly trying to stay positive

[09:18] {Threei}  and goes up eh?

[09:19] {Threei}  GE

[09:19] {Threei}  ISSUES FORMAL STATEMENT ON DOWNGRADE AT S&P

[09:19] {Threei}  The ratings downgrade does not affect GEs and GECCs short-term funding ratings of A-1+, which was affirmed by S&P. The action follows a thorough review of GEs portfolio by S&P.

[09:19] {Threei}  - GE does not anticipate any significant operational or funding impacts from this change. The Company has taken steps to strengthen its balance sheet and liquidity position, including building $48 billion in cash, raising over 90% of its 2009 long-term debt needs, and lowering its commercial paper to $60 billion from $88 billion in third quarter 2008. GE will provide a detailed update on GE Capital at a March 19 investor meeting.

[09:21] {Threei}  BALTIC DRY BULK INDEX -3.1%, SECOND STRAIGHT DECLINE

[09:22] {pita} PFE spikes on drug trial, then drops - logic just does not apply.

[09:23] {Threei}  not in the market

[09:23] {Threei}  at least not conventional logic

[09:23] {pita} I need to be rewired

[09:23] {Threei}  inorder to start thinking as traders do, yes

[09:24] {pita} yes

[09:24] {Threei}  allow me to adress you again to three blog articles

[09:24] {dino} gild blood

[09:24] {Threei}  History Teaches Us, Price-Information Divergence and Trader's Job

[09:24] {Threei}  be back in 5

[09:28] {Threei}  paliyad, you can re-login as vino now

[09:28] {KSystems} vinod

[09:28] {KSystems} not vino

[09:28] {Threei}  right

[09:28] {Threei}  O guys, we may have a shot at upward move continuation today

[09:29] {dino} not dino

[09:29] {Threei}  O=OK

[09:29] {Threei}  market seems to shrug off another bad job numbers

[09:29] {_paliyad2009} o.k

[09:29] {Threei}  so far I amd in pullback buying mode

[09:29] {pita} watching?

[09:29] {Threei}  STT for its traditional drop and bounce

[09:30] {Threei}  GE

[09:30] {Threei}  WFC

[09:30] {Threei}  STT half lot, very volatile

[09:31] {dino} fre nees another 31 billion, cannot pay back loans

[09:31] {Threei} Long Setup:  WFC  .50 break if stays above .40

[09:32] {nemo} oops

[09:32] {Threei}  over 1:1

[09:32] {pita} too fast, ok on pullback?

[09:33] {Threei}  only if dips under .50 and stalls

[09:33] {Threei}  market weakens no entry yet

[09:34] {vint} good morning everyone

[09:34] {Threei}  vint

[09:34] {magoo} caught stt vad.68 to .05

[09:34] {magoo} TY

[09:34] {Threei}  welcome

[09:35] {ese} morning....late

[09:35] {Threei}  ese :)

[09:36] {Threei}  RIMM

[09:36] {Threei}  WEAKNESS PARTIALLY ATTRIBUTED TO CAUTIOUS COMMENTS AT GOLDMAN SACH (PRE-OPEN)

[09:37] {ese} STLD dino

[09:38] {dino} lowered big i think

[09:39] {dino} -40/45 vs +5-9

[09:39] {dino} ..

[09:39] {dino} should go to 5s

[09:39] {dino} pfe may go

[09:40] {dino} eyes on same old today, v, ice, pfe, lphi, pcln

[09:41] {Threei} Long Setup:  GE  .50 break if stays above .40

[09:41] {dino} gild too

[09:42] {Threei} Long Setup:  STT  half .10

[09:42] {nemo} in

[09:42] {Threei}  stop under 21.90

[09:43] {Threei}  STT no go

[09:44] {dino} pfe, hate to see what happens drug doesn't work, sheesh

[09:45] {ese} too funny

[09:46] {fernp} Hello everybody

[09:46] {Threei}  fern :)

[09:46] {Threei}  UPDATE: JP MORGAN COMMENTS ON STEEL MAKERS, CUTS ESTIMATES (PRE-OPEN)

[09:46] {Threei}  - JP Morgan speculates on possibility that AKS and US Steel (X) could violate their debt covenants.{AKS X}

[09:46] {dino} can you imagine, it would be a penney stock

[09:47] {dino} chtt dump

[09:48] {nemo} maybe we'll get a little market help on GE

[09:48] {Threei}  STT shakeout

[09:49] {magoo} normal:)

[09:49] {magoo} wfc strong

[09:50] {Threei}  yeah, one of strongest

[09:50] {vinod} wfc in 11.48 out 11.74 500

[09:50] {Threei}  pullback into .60 should be entry

[09:50] {Threei}  good job vinod

[09:51] {vinod} you guys are too fast

[09:51] {Threei}  comes with practice

[09:51] {ese} LGild.20 1/2

[09:51] {Threei}  no pullback WFC

[09:52] {magoo} animal

[09:52] {magoo} long q .50

[09:52] {Threei}  come on already GE

[09:52] {magoo} long spy .10

[09:52] {dino} sm l pfe .15

[09:52] {nemo} market strength isn't helping GE

[09:53] {ese} out GILD .44

[09:53] {ese} +.24

[09:53] {Threei}  well, it still stays green after downgrade

[09:53] {Threei}  maybe let's scratch it if uncomfortable

[09:53] {Threei}  hard to tell

[09:53] {magoo} realmoney says it no big deal..expected

[09:53] {Onix} gj ese

[09:54] {Threei}  ok, here is pullback on WFC finally

[09:54] {Threei}  want .50 - .60 zone

[09:55] {Threei}  see nemo... market weakness doesn't kill it either

[09:55] {magoo} out spy .26

[09:55] {nemo} yep

[09:55] {Threei}  it's kind of digesting

[09:55] {magoo} .43 stop q

[09:55] {vinod} ge in 8.48

[09:56] {Threei}  upticks against the market

[09:56] {Threei}  so far so good

[09:56] {nemo} let it run

[09:56] {Threei}  over 1:1, half out

[09:57] {Threei}  STT, I hate you

[09:57] {ese} tks onx

[09:57] {magoo} i hate WFC

[09:57] {vinod} ge out 8.67 see you after noon

[09:58] {Threei}  wtg, take care

[09:59] {Threei}  WFC simply didn't give much indocations for entry

[09:59] {Threei}  this is foundation for slight unplesantries

[09:59] {Threei}  STT on the other hand, shook us out, then went up a buck

[09:59] {Threei}  GE 1:2, 1/4 more out

[10:00] {Threei}  JAN BUSINESS INVENTORIES: -1.1% V -1.0%E

[10:00] {geo} good morning

[10:00] {geo} woke up late :)

[10:00] {Threei}  geo :)

[10:00] {Threei}  well... missed some but nothing overly dramatic

[10:01] {Threei}  stop is .55 now for the last portion GE

[10:02] {Threei}  VICE PRESIDENT BIDEN: STATES WILL BE LIMITED IN HOW THEY CAN SPEND STIMULUS FUNDS

[10:02] {fernp} im out GE. ty Vad

[10:02] {Threei}  welcome sir

[10:02] {nemo} out ge ty

[10:02] {Threei}  :)

[10:02] {Threei}  1:3

[10:03] {Threei}  make up your mind, two ways to go from here

[10:03] {nemo} yeah

[10:03] {Threei}  get out in full

[10:03] {Threei}  or

[10:03] {Threei}  trail stop

[10:03] {Threei}  and let it trade

[10:03] {Threei}  if go with latter, stop is .65 now

[10:05] {ese} FAS is a great day trading stock/index

[10:05] {Threei}  so far the idea of pullback hunting worked fine

[10:06] {Threei}  let's try to stay with it

[10:06] {ese} moves big fast and with lots of volume

[10:06] {Threei}  FAS is tempting

[10:06] {ese} very

[10:06] {Threei}  want pullback into 4.05 - .10 area

[10:06] {nemo} FAZ is showing strength though

[10:07] {ese} you watching any more like FAS Vad

[10:07] {Threei}  BAC is kind of similar

[10:07] {nemo} Due for the 10:00 am pullback

[10:08] {Threei}  US REP KANJORSKI: MARK-TO-MARKET ACCOUNTING HAD 'UNINTENDED' CONSEQUENCES; REGULATORS SHOULD 'LIBERALIZE' CAPITAL REQUIREMENTS

[10:08] {nemo} if FAZ hods a double bottom or clears 55...is that another Congressman who has anatomy identification problems?

[10:09] {nemo} Oh, we should get a pullback

[10:09] {Threei}  - Notes he is against an 'outright suspension' of mark-to-market accounting

[10:09] {dino} es you were right stld, i was wrong

[10:11] {ese} score ese 1...dino 3645....

[10:11] {Threei}  who is counting...

[10:11] {Threei}  I am pretty sure it just 3644 though

[10:12] {ese} oh ya......ya your right.......it's 3644

[10:12] {magoo} lol

[10:13] {Threei}  WMT TREASURER: THE CARD CHECK BILL IS ONE OF AN 'ANTI COMPETITIVE' NATURE; HOPEFULY THAT CONGRESS WILL 'GET IT RIGHT' AND DEFEAT THE BILL

[10:13] {magoo} he is consistant

[10:13] {magoo} dave wants him bad in bear

[10:13] {ese} i'll say

[10:15] {Threei}  GE

[10:15] {Threei}  50 cents

[10:15] {Threei}  out in full

[10:16] {Threei}  60, sorry

[10:16] {Threei}  enough is enough

[10:16] {dino} pcln partoal fill l .75

[10:16] {magoo} ahhhhh

[10:17] {magoo} server vad?

[10:17] {Threei}  13

[10:17] {dino} ok, wide things like pulp

[10:17] {magoo} euiw..unlucky

[10:17] {ese} one of the most well managed corporations in history GE.....just bizzare to see it 6 to 8 bucks

[10:18] {ese} 9 today

[10:18] {Threei}  US REP FRANK: FASB MUST PROVIDE GUIDANCE FOR MARK-TO-MARKET ACCOUNTING, CHANGES MUST BE MADE TO ENSURE FLEXIBILITY

[10:19] {nemo} Is anything going to pull back today? :)

[10:22] {dino} gild, cop, stld, rimm, cpla, v

[10:23] {dino} chtt

[10:23] {geo} MT vad?

[10:24] {Threei}  not sure

[10:24] {Threei}  something doesn't feel right here

[10:24] {Threei}  can't quiote put a finger on it

[10:25] {Threei}  US TREASURY'S GEITHER: RECESSION PLACING MORE PRESSURE UPON BANKS

[10:25] {Threei}  no really?

[10:25] {Threei}  people get paid for this?

[10:25] {nemo} You've lost your crown

[10:25] {dino} next he'll say, we are further into recession than last fall

[10:26] {nemo} Actually, or are banks putting pressure on the recession?

[10:26] {geo} TYC nice

[10:27] {Threei}  US REP BACCUS: CONGRESS MAY HAVE TO ACT AS A RESULT OF NEGATIVE EFFECTS OF MARK-TO-MARKET ACCOUNTING IF THE FASB AND SEC FAIL TO DO SO

[10:27] {nemo} Oh jeezus

[10:29] {dino} how is it that i have been complaining about this since oct., and they just now hear of it

[10:29] {Threei}  it's a giraffe effect dino

[10:30] {Threei}  too long neck... take s a long time for sounds to reach ears,

[10:30] {nemo} Yeah, but you don't want Congress acting on it

[10:30] {Threei}  food to reach stomach

[10:30] {Threei}  blood to reach brain

[10:30] {dino} m2m was like butteryfky effect

[10:30] {magoo} because u been complaining in this room and i do not believe timmy is a member, or barney

[10:30] {ese} who was it that was in on th QQQQ at .50???       nice one

[10:31] {nemo} Good point..."Dino goes to Washington"

[10:31] {magoo} me

[10:31] {magoo} q

[10:31] {ese} nice mags...you still in

[10:31] {elepet} good morning

[10:31] {geo} magoo focussed

[10:31] {dino} i am "unelectable"

[10:32] {geo} you cant lie?

[10:32] {nemo} You could go be Barney's "Page"

[10:32] {dino} lol, just don't care what others think

[10:32] {elepet} has anyone been watching PALM?

[10:32] {Threei}  elepet :)

[10:33] {Threei}  not really... PALM kind of escaped our attention with all the financials

[10:34] {elepet} oh dear. i shoould have mentioned it. 

[10:34] {nemo} Yeah, woul have been considerate of you

[10:36] {nemo} see MT dino?

[10:37] {dino} yes

[10:37] {dino} hmmmm

[10:37] {dino} going to hold lod?

[10:38] {nemo} can't tell yet 

[10:38] {magoo} what u got vad?

[10:38] {nemo} trend still of that JBI

[10:39] {nemo} market looks like it's strengthening though

[10:39] {Threei}  don't mags

[10:40] {magoo} ge can rip if IF futes

[10:41] {magoo} in GE .25

[10:42] {Threei}  looks determined

[10:43] {Threei}  9.36 is yesterday's high GE'

[10:45] {magoo} out .42 TY vad

[10:46] {Threei}  not sure for what but you are welcome

[10:46] {dino} v sm chtt l .55

[10:46] {Threei}  very impressive move from original call GE

[10:46] {Threei}  90 cents

[10:46] {Threei}  got 60 of them

[10:46] {magoo} a pe-emptive TY

[10:46] {Threei}  oh

[10:47] {nemo} Is the prez on?

[10:47] {Threei}  no

[10:47] {Threei}  we haven't seen him today

[10:48] {dino} sm l v .50 wide whippy

[10:52] {dino} give him time

[10:55] {Threei}  time to back off a bit guys

[10:55] {nemo} dino, did you get a piece of MT?

[10:55] {Threei}  feels to me, bigger pullback starts

[10:56] {dino} no, wanted lod

[10:56] {dino} nice pick tho

[10:56] {nemo} first broken clock moment today...only one more

[10:56] {dino} lol

[10:57] {dino} that piece of chtt i took is working

[10:57] {dino} no humor today i see

[10:57] {magoo} obama reprimands chinese foriegn minister today about high seas incident yesterday

[10:58] {dino} they are testing him

[10:58] {Threei}  yup

[10:58] {Threei}  and not only they

[10:58] {geo} we sent sub hunters there

[10:58] {geo} imagnie how freaked out we would be

[10:59] {geo} i would say pentagon testing prez

[10:59] {dino} then say it

[10:59] {geo} "pentagon testing prez"

[11:00] {dino} lol

[11:00] {nemo} I went to get coffee dino

[11:01] {nemo} geo...we've had russian listening ships off the coasts forever...just part of the game

[11:01] {geo} i agree

[11:01] {Threei}  ok guys, ready to try short?

[11:01] {Threei}  with possible stop or two until we get it right

[11:01] {geo} but we kinda look foolish getting caught and then reprimanding them

[11:01] {Threei} Short Setup: GE  .40 breakdown

[11:01] {dino} difference is, reagan and both bush's would stand up, obamination will roll over like a beat dog

[11:01] {Threei}  if stays under .50

[11:02] {dino} iran and china stepping up pressure

[11:02] {geo} nothing like the grat gam

[11:02] {geo} e

[11:02] {dino} the game, the game, nothing quite the same, all that really matters is the game

[11:03] {magoo} GE is sick strong

[11:03] {nemo} the game cost a lot of sailors on the Kursk their lives

[11:03] {Threei}  well, it had a great run, now it started making lower highs

[11:03] {Threei}  and breaking supports

[11:03] {fernp} in GE

[11:03] {magoo} yup

[11:03] {magoo} in

[11:04] {dino} out pcln .15, +.40

[11:04] {Threei}  could be just a little bull flag of course

[11:04] {Threei}  but with 10 cents stop?

[11:04] {dino} no disrespect intended

[11:04] {Threei}  how else to you make money if you don't try valid setups

[11:04] {magoo} agree

[11:05] {Threei}  NDAQ CEO: UPTICK RULE CAN BE REINSTATED IF IT IS CONCEIVED AND INSTURMENTED PROPERLY

[11:05] {Threei}  - Does not see a impact on trading volumes if uptick were to be reapplied

[11:05] {Threei}  - CFTC and SEC should be merged

[11:05] {Threei}  - Concept of a stamp tax on trading is bad idea, would hurt liquidity

[11:06] {nemo} should GE be a scalp on such a strong day?

[11:06] {Threei}  I'd high five him

[11:06] {Threei}  can't tell nemo... let's make it personal preference

[11:06] {Threei}  I will partial out

[11:06] {Threei}  but I have 60 cents win under the belt

[11:07] {Threei}  a lot of room to let some of profits evaporate

[11:07] {Threei}  1:1 is coming

[11:07] {fernp} out here ty

[11:07] {Threei}  welcome

[11:07] {Threei}  covered half

[11:07] {dino} gj

[11:08] {magoo} not thanking u cause i pre-empt ty earlier ok?

[11:08] {Threei}  yes, it's fair

[11:08] {Threei}  stop to .42 for the balance

[11:11] {Threei}  hey!!!

[11:11] {Threei}  guess what

[11:11] {nemo} prez

[11:11] {Threei}  guessed, no?

[11:11] {pita} its the pres

[11:11] {Threei}  yup

[11:11] {Threei}  life is back to normal

[11:11] {pita} never a day goes by......

[11:12] {dino} looks stoned

[11:12] {magoo} now if mkts could only tank lol (NOT)

[11:13] {Threei}  I think markets got dissensitized mags

[11:13] {Threei}  if that's a word

[11:15] {Threei}  US HOUSE SPEAKER PELOSI: THERE IS NOT MUCH CHANCE OF A SECOND STIMULUS PACKAGE IN THE SHORT TERM

[11:15] {Threei}  - Reminder: On 3/11 White House Chief Economist Romer said it is "too early" to consider a second stimulus package.

[11:15] {Threei}  how come they even talk about it?

[11:16] {Threei}  what could possibly be more idiotic than second package while first hasn't even started being implemented

[11:16] {geo} judge says go to jail immediately.... see you at sentencing

[11:16] {nemo} stopped GE

[11:16] {Threei}  Madoff is going to prison immediately

[11:16] {Threei}  hmm?

[11:16] {Threei}  nemo... just now?

[11:17] {geo} dont hink he adjusted stop

[11:17] {Threei}  we hit 1:1, covered half at least

[11:17] {Threei}  stop moved to .42

[11:17] {nemo} I didn't catch 1:1

[11:17] {Threei}  so what

[11:17] {Threei}  it was reached, stop must have been moved

[11:17] {nemo} yep stupid

[11:18] {Threei}  it's a routine

[11:18] {Threei}  just a procedure to follow

[11:18] {Threei}  OK, this is not something you hear often these days:

[11:18] {Threei}  GM

[11:18] {Threei}  DOES NOT NEED $2B IN NEW FUNDS TO SURVIVE MARCH, COMPANY WIDE COST CUTS HAVE PROVEN HELPFUL

[11:18] {Threei}  - Told US task force that previoulsy requested funds were not needed

[11:19] {Threei}  I say keep GM, dump AIG, FRE, FNM

[11:19] {Threei}  SEC: REGULATORS MAY MOVE ON MARK-TO-MARKET AND FAIR VALUE ACCOUNTING WITHIN WEEKS

[11:19] {Threei}  - FASB: Will have proposal within 3 week

[11:19] {dino} i say give gm to the union

[11:20] {Threei}  andf let them try to manage it? :)

[11:20] {Threei}  good idea

[11:21] {geo} news on AU?

[11:21] {geo} other gold stocks not rising so much

[11:21] {Threei}  no

[11:21] {nemo} GE again vad

[11:22] {Threei}  don't have read here

[11:23] {Threei}  double top at .55... with no clear entry point though

[11:28] {nemo} If GE drops below .20?

[11:29] {nemo} ehh...23?

[11:31] {dino} out chtt .30, +.75

[11:31] {dino} spiked

[11:33] {Threei}  GE, .31 for short if stays under .35

[11:33] {Threei}  tiny stop

[11:37] {ese} Am outa here for a while.....hopefully back in an hour...."catch you on the flip side"...whens the last time you heard that eh?

[11:37] {nemo} hehehehehe

[11:38] {Threei}  we will be here ese

[11:38] {nemo} last time I used my discwasher

[11:38] {Threei}  I promise

[11:38] {ese} see you in a bit

[11:39] {Threei}  WFC nice selling

[11:39] {Threei}  GE doesn't follow the suit so far

[11:39] {nemo} market strength too

[11:39] {Threei}  not very convincing

[11:39] {Threei}  volume is lame

[11:39] {nemo} no, but holding things up

[11:39] {Threei}  yeah

[11:40] {nemo} people aren't feeling the nee to sell before they go to lunch

[11:41] {dino} magoo, i need warp speed in 10 or your fired!

[11:43] {nemo} Mmmh...Dow volume good. NAS average, S&P 120% advances slightly ahead of decliners...still consolidating

[11:44] {nemo} Two big things in the offing....M2M adjustment, and Barney's new regulatory scheme...all in April

[11:45] {nemo} Dino, MT looks like it wants to close the gap

[11:47] {dino} maybe so

[11:47] {dino} prefer it around 18.70

[11:47] {dino} chtt flush

[11:49] {Threei}  in case this is a little pullback and new spike is coming:

[11:49] {Threei}  argh, late

[11:49] {Threei}  ok, it's back

[11:49] {Threei} Long Setup:  RIMM  40 break

[11:50] {Threei}  if stays above .85

[11:50] {Threei}  and

[11:50] {Threei}  .long wfc .10 if sdtays above 12

[11:50] {Threei} Long Setup:  WFC  .10 if sdtays above 12

[11:52] {Threei}  RIMM 1:1, half out

[11:52] {Threei}  scalpers know what to do

[11:52] {Threei}  stop to .95

[11:53] {fernp} in WFC

[11:54] {Threei}  almost hit 1:2 RIMM

[11:54] {dino} fasb chair., proposal in 3 weeks m2m issue

[11:54] {Threei}  good morning dino :)

[11:54] {nemo} hehehehehe

[11:54] {Threei}  IRANIAN OPEC MINISTER: OPEC OUTPUT IS CURRENTLY LESS THAN DEMAND, OPEC IS NOT HAPPY WITH CURRENT PRICES

[11:54] {Threei}  - OPEC could cut output if it really wants oil to return to the $75 level.

[11:55] {dino} hmmmm, sarcasm

[11:55] {Threei}  as idf you didn't expect it from us

06[11:56] * nemo slaps dino around a bit with a large with a tape of the earlier log

06[11:56] * dino slaps nemo around a bit with a large trout

[11:56] {nemo} that's almost fratricide

[11:58] {Threei}  WFC is tired

[11:58] {fernp} stopped WFC

[11:58] {Threei}  RIMM holding like champ

[12:00] {dino} v stop to .70 tougie

[12:01] {dino} to .75

[12:01] {Threei}  (US) US HOUSEHOLD NET WORTH -15% Y/Y TO $65T IN 2008, FIRST FALL IN FOUR YEARS

[12:02] {dino} to .90

[12:03] {_skylan8} if RIMM is holding here is this a good place for entry?

[12:03] {dino} reverse slip out .93, +.43

[12:03] {nemo} looks like RIMM might slip here

[12:03] {Threei}  only if market spike sharply skylan

[12:04] {Threei}  WFC shaleout...

[12:04] {_skylan8} thnks

[12:04] {nemo} is that shakeout or scaleout?

[12:04] {Threei}  FASB HERZ: AN UNNAMED LARGE FINANCIAL FIRM HAS REMOVED ILLIQUID ASSETS AT VERY LOW PRICES

[12:05] {Threei}  SOME LOANS HAVE BEEN OVERSTATED BY SOME COMPANIES

[12:05] {nemo} does that mean they sold them?

[12:08] {dino} who knows

[12:09] {dino} just don't believe anything

[12:09] {Threei}  - Herz remaedks that companies may conduct cash flow models in order to create a value for certain distressed assets in lieu of fire sale prices

[12:09] {nemo} I've been seeing "stories" about private equity wanting to buy some of it

[12:10] {nemo} So...they'll treat them like commercial real estate...only thing, how do they identify what's in the bonds?

[12:10] {dino} they are lining up from what i read, getting govt guarantees on it, fortunes to be made over time

[12:11] {nemo} gotta' love it, the taxpayer subsidizes fortunes

[12:11] {dino} if you do not have stockholders/public, you don't have to m2m it

[12:12] {dino} no different than buying a house from a bank that foreclosed on it, most likely its worth mmuch more

[12:12] {nemo} Yeah, so they make the money and the taxpayer takes the risk

[12:12] {dino} you can do it too nemo

[12:13] {dino} just not the big chunks

[12:13] {Threei}  is this what "mortgage pools" are doing?

[12:13] {nemo} I'm all ears....for a fish that is

[12:14] {Threei}  1/4 more out RIMM .26

[12:14] {dino} the banks are in panic mode, think they are owed $100k on a house that in todays market still goes for $150. they will sell it after its foreclosed for 80% of that. the regulators count it as a $180k swing. 

[12:14] {dino} so you get a 150k house for 80k

[12:15] {nemo} Some, but now some who are subsidized by the feds are putting houses on the market...if they get 5 or 6 bids, they're pulling them and putting them back on the market a week later for higher prices.  No urgency to clean up when you can go to the Feds for handouts

[12:16] {dino} it is what it is, but it is a lot of opportunity too

[12:16] {nemo} no argument, just the taxpayer takes it...no surprise

[12:17] {dino} pfe out .65, +.50

[12:17] {Threei}  stop to under .10 for last portion of RIMM

[12:17] {dino} most of the taxpayer cannot understand it 

[12:17] {Threei}  want spike into .40 - .50 for final exit

[12:18] {Threei}  frikin WFC fooled us

[12:20] {fernp} BAC breaking hod

[12:21] {Threei}  slow creep up... BAC, FAS

[12:24] {Threei}  (US) TREASURY SEC GEITHNER: LARGE INSTITUTIONS NEED MUCH STRONGER REGULATION, THE GOVERNMENT REQUIRES A SYSTEM FOR UNWINDING LARGE BANKS

[12:24] {Threei}  - Plans to lay out "relatively detailed, concrete proposals" on March 26th, ahead of Congressional testimony.

[12:24] {Threei}  - Notes that Treasury may be able to begin the bank asset purchase program using existing resources from TARP program

[12:24] {Threei}  another plan at another date?

[12:25] {Threei}  then he comes out and says "oh we have a plan, it's just not detailed yet"?

[12:25] {Threei}  timmy.... this is so not terrific

[12:27] {Threei}  btw... was Cramer yesterday on Stewart's show?

[12:27] {nemo} 2nite

[12:27] {Threei}  or it was a rumor?

[12:27] {Threei}  ah, ok

[12:27] {nemo} 8:00 your time

[12:27] {magoo} who is stewart? 

[12:27] {Threei}  don't have your comedy channel

[12:28] {Threei}  guy who ripped cramer and whole cnbc new one, mags

[12:28] {nemo} John Stewart....well, should be utubed

[12:28] {Threei}  yeah, will wait for it to be posted

[12:28] {nemo} Should be posted within seconds

[12:28] {Threei}  you didn't see that hilarious segment mags?

[12:29] {magoo} no

[12:30] {Threei}  http://www.youtube.com/watch?v=IuksmNLDpdM

[12:30] {Threei}  enjoy, this is thing of beauty

[12:36] {Threei}  Space station is being evacuated

[12:36] {Threei}  is it euphemism for "they couldn't refinance their mortgage and are being evicted"?

[12:37] {dino} back to march hoighs

[12:37] {Threei}  BAC .47 yesterday's high

[12:41] {magoo} TOO FUNNY VAD

[12:43] {pita} later everyone

[12:43] {Threei}  take care pita

[12:44] {Threei}  strong feeling that we are going to see new highs today

[12:44] {nemo} nothing is pulling back

[12:45] {Threei}  no... FAS and BAC are digesting highs

[12:45] {nemo} RiMM GE 

[12:45] {Threei}  I'd like to see bigger volume though

[12:45] {nemo} BAC

[12:45] {nemo} well  FAZ is down :)

[12:52] {dino} cedc l .10

[12:55] {nemo} Vad, did you close out RIMM over .50?

[12:55] {Threei}  no, last portion got taken on trailing stop

[12:56] {Threei}  FAS new high

[12:56] {Threei}  feels like this slow grind will churn us higher and higher

[12:57] {magoo} USO spikarollla

[12:57] {nemo} wfc just completed big cup

[12:58] {fernp} GE also breaking hod

[12:58] {cosmo} back ...oh no... i missed 28 ..... i just had to be the sacrificial lamb ...again...

[13:00] {Threei}  BAC CEO: NATIONALIZING BANKS WOULD 'UNDERMINE SYSTEM'; FALLOUT WOULD BE A 'NIGHTMARE'

[13:01] {cosmo} for him ...yeah

[13:01] {dino} yes, he would lose his job

[13:01] {dino} lol;

[13:03] {Threei}  - Sees current profitability 'forestalling' need for additional capital from US Govt

[13:05] {_skylan8} if FAZ breaks 4.51 would this be a good entry point?

[13:05] {Threei}  FAS you mean?

[13:05] {_skylan8} yes

[13:05] {Threei}  only if you have a lot of patience

[13:05] {Threei}  this one is better on pullbacks

[13:06] {Threei}  and moves slowly

[13:06] {_skylan8} ok

[13:07] {Threei}  BAC new high

[13:09] {Threei}  the problem with breakouts on this kind is,

[13:09] {magoo} teleportation

[13:09] {Threei}  it makes a small move afer the break, not enough to take profit

[13:10] {Threei}  then starts dancing around,

[13:10] {Threei}  pulls back,

[13:10] {Threei}  shakes you out

[13:10] {Threei}  and only then continues

[13:11] {Threei}  pullback entries give you better cushion this enabling you to sit through the dane

[13:11] {Threei}  dance

[13:13] {dino} cedcstop to .21

[13:14] {nemo} we need some bad news...but what could be worse than what's been coming

[13:14] {dino} to .23 stingy

[13:15] {nemo} for pullbacks, that is

[13:15] {dino} out .24, +.14

[13:15] {Threei}  see what I mean on FAS skylan?

[13:16] {Threei}  like pulling tooth

[13:17] {_skylan8} yes

[13:17] {Threei}  something's missing today...

[13:18] {Threei}  oh, I know

[13:18] {nemo} Prez has only been on once

[13:18] {Threei}  we've seen prez on tv just once

[13:18] {Threei}  yep

[13:19] {Threei}  GE goes for 10?

[13:23] {Threei}  LOL

[13:23] {Threei}  HD

[13:23] {Threei}  COMPANY 'PLEASED' WITH PERFORMANCE IN CHINA, UNCERTAIN WHETHER EXECUTING CORRECT BUSINESS MODEL

[13:23] {Threei}  translation:

[13:23] {Threei}  we have no idea what we are doing but so far it seems to work

[13:24] {Threei}  much better that goverment's version:

[13:24] {Threei}  we have no idea what we are doing and it's not working

[13:27] {nemo} Well, will this have to suffice as a pullback?

[13:28] {Threei}  FAS support is just 5 cents away

[13:28] {Threei}  why not

[13:28] {Threei}  if GS breaks 94.50, both FAS and BAC should make new highs

[13:29] {Threei}  yessss!!!!

[13:29] {Threei}  gues what!

[13:29] {nemo} PREZ!!!

[13:29] {nemo} no?

[13:29] {Threei}  yup

[13:31] {Threei}  seriously... can you believe it?

[13:31] {nemo} I'm taking your word for it, I don't watch TV as a rule

[13:32] {Threei}  come on GS go for it and pull us up

[13:37] {Threei}  here comes GS

[13:38] {Threei}  if you took that pullback on FAS, you are at 1:1 here, lol

[13:38] {nemo} and the broker took half

[13:38] {Threei}  new high FAS

[13:39] {Threei}  main point is, it's way less stressful way to play this one

[13:39] {vinod} faz

[13:40] {magoo} i just took GS .15 to .46

[13:40] {magoo} from u vad

[13:40] {Threei}  SEN DODD: LOOKING TO GET ADOPTION FOR MORTGAGE CRAMDOWN LEGISLATION WITHIN NEXT FEW WEEKS

[13:40] {Threei}  what can I say mags

[13:40] {Threei}  you are a predator

[13:40] {Threei}  CHRYSLER SAYS ITS RESTRUCTURING PLANS REMAIN ON TARGET; NO COMMENT ON GOVT AID

[13:41] {Threei}  .50 broken

[13:41] {magoo} i figured if it goes up i should be in it

[13:41] {Threei}  FAS new high

[13:41] {Threei}  next should be BAC

[13:41] {Threei}  you are at 1:2 nemo

[13:43] {Threei}  with decent shares it's already worth the trobules

[13:43] {nemo} yeah...if you played a few thousand

[13:43] {Threei}  with huge liquidity and 5 cents stop, why not?

[13:44] {nemo} true

[13:44] {nemo} GS about to compete the wedge up?

[13:44] {Threei}  it's 5 cents for, as dawg says, chrisssakes

[13:44] {nemo} I thought that was only on RIMM?

[13:44] {Threei}  on 5K shares it's $250 stop

[13:45] {nemo} GS pulling back

[13:45] {Threei}  also, keep in mind,

[13:46] {Threei}  at least on the exit side try to offer your shares, not hit the bid

[13:46] {Threei}  ECN passthrough will significantly reduce commissions

[13:53] {Threei}  new high FAS

[13:53] {Threei}  and pulls BAC with it this time

[13:54] {Threei}  FAS 1:3

[13:54] {Threei}  BAC

[13:54] {Threei}  CEO ECHOES CITI AND JPM CEO'S WHEN NOTES CO. PROFITIABLE IN FIRST TWO MONTHS OF 09

[13:56] {magoo} i have appt..be back hour

[13:57] {dino}  me thinks they protest too much (remembering the constant "we don't need to raise capital" calls)

[13:57] {Threei}  anyone played either FAS or BAC?

[13:57] {Threei}  lol, yes dino

[13:57] {magoo} i did bac vad

[13:57] {magoo} ty outtta here

[13:57] {Threei}  :)

[13:57] {Threei}  this is the only way to play this slow grind

[13:58] {Threei}  try to buy breaks, you'll be chewed and spat out

[14:08] {Threei}  FAZ is a widowmaker

[14:09] {Threei}  from 115 to under 50 in three days?

[14:10] {Threei}  if they adopt m2m change and FAS rockets, does FAZ fo to zero?

[14:12] {wulff} how quickly things change

[14:12] {wulff} FAS to FAZ

[14:13] {nemo} looks like things going vertical

[14:13] {dino} cedc l .25

[14:23] {dino} pfe thru .00?

[14:25] {nemo} like moths to a flame dino?

[14:26] {dino}  rats to cheese

[14:26] {nemo} bees to honey

[14:26] {dino} flies on a rib roast

[14:27] {nemo} blew right through?

[14:27] {nemo} coyote's to carcasses

[14:27] {nemo} actually flies to somethin' else

[14:28] {dino} lol

[14:28] {nemo} white on rice?

[14:28] {nemo} Vad to vodka...

[14:29] {Threei}  lol

[14:29] {Threei}  that would be dptl

[14:29] {nemo} and me

[14:29] {nemo} glass houses an all

[14:30] {nemo} so vad, what market treachery lies ahead today?

[14:30] {Threei}  on a sideline now

[14:30] {nemo} ahhh

[14:33] {dptl} i think i should change my nick to "Stoli" :)

[14:33] {nemo} mine should be "iron liver"

06[14:35] * Threei is now known as Embodiment of Sobriety

[14:35] {nemo} Gonna run for office Va?

[14:36] {nemo} Vad?

[14:37] {dptl} ok...finishing early today....have a good evening all

[14:38] {Threei}  take care stoli... errr, dp

[14:38] {nemo} Well, since the arket will be up today, any bets on whether FAS sees 5?

[14:39] {Threei}  nope

[14:39] {nemo} wow...

[14:42] {dino} close positive?

[14:42] {Threei}  lol... yes

[14:43] {dino} :)

[14:43] {dino} have to give you that one

[14:44] {Threei}  at this rate it won't take long for FAZ to go to zero

[14:46] {dino} pull up a 5 day skf

[14:46] {Threei}  yeah

[14:48] {nemo} dino, 300 dji?

[14:50] {dino} +11% since mondays' lows

[14:50] {dino} -13% was triggering rallies on the downside

[14:51] {Threei}  5 cents till nemo proves me wrong

[14:52] {nemo} no proof of anything, just asked you if you want to bet, and didn't say which side i take, so you're off the hook

[14:52] {Threei}  whew

[14:52] {nemo} got your back Vad

[14:53] {Threei}  ty

[14:53] {dino} out cedc .39, +.14

06[14:53] * Threei feels a knife between shoukderblades

[14:54] {nemo} why?

[14:54] {dino} hot knife thru butter

[14:54] {Threei}  watch FAS here

[14:54] {Threei}  likely to drop sharply into .80

[14:55] {nemo} full lot

[14:55] {magoo} back..what we stalking..just fas

[14:55] {Threei}  yeah

[14:55] {nemo} this is mags kinda' hunting

[14:56] {magoo} man..missed move

[14:57] {magoo} bac .70, wfc 13ish

[14:57] {magoo} spy over 75

[14:58] {nemo} bummer

[15:00] {nemo} orderly descent

[15:01] {Threei}  cancel .80 as bottom of pullback

[15:01] {Threei}  likely to go lower

[15:01] {nemo} look at the bid at .86 on fas

[15:01] {Threei}  ?

[15:01] {Threei}  what about it?

[15:01] {nemo} orders really piling up

[15:02] {nemo} compared to offer

[15:02] {Threei}  don't put any significance in sizes on these thick stocks

[15:02] {nemo} o.k

[15:03] {Threei}  see how easy it was to cut through?

[15:03] {nemo} yes

[15:03] {nemo} reget to heavy resistance at .75?

[15:03] {nemo} get

[15:04] {Threei}  resistance?

[15:04] {nemo} duh..support

[15:04] {Threei}  why is it heavy?

[15:05] {nemo} road that line for 1/2hour

[15:05] {Threei}  I don't feel it's going to hold

[15:05] {Threei}  .65 - .70 zone is more likely to provied a bounce

[15:05] {Threei}  no new highs, just a bounce

06[15:08] * magoo slaps laserdave around a bit with a large trout

[15:10] {nemo} Stt took a nice dive

[15:13] {wulff} looks like .80 was it 

[15:14] {nemo} not 4 yet

[15:14] {Threei}  yeah, stronger than I expected

[15:14] {nemo} All's right with the world again...what can go wrong

[15:15] {i2romantis} yep, what a great day in overall

[15:15] {Threei}  just one thing is not complete for the day

[15:16] {Threei}  who'll guess?

[15:16] {nemo} Oh oh

[15:16] {nemo} no one said 'ally!

[15:16] {i2romantis} i got out at .96

[15:16] {Threei}  from?

[15:16] {Threei}  no nemo

[15:16] {i2romantis} fas

[15:16] {i2romantis} in .81, out .96

[15:16] {nemo} prez only on twice?

[15:16] {Threei}  good one i2r

[15:16] {i2romantis} i wonder if it hits 5

[15:17] {Threei}  now you got it nemo

[15:17] {i2romantis} thx

[15:17] {Threei}  three time per day is more norm

[15:17] {nemo} Life's not the same without bigbro...the Messiah...being on TV all day

[15:17] {i2romantis} done, wow

[15:17] {Threei}  5

[15:18] {nemo} Well, Vad, one of us lost the bet we didn't make

[15:18] {Threei}  lol

[15:28] {Threei}  STT tough fight

[15:29] {Threei}  wants to bounce and can't decide

[15:29] {Threei}  market's helping those

[15:29] {Threei}  half lot with stop under .90

[15:30] {i2romantis} nice call

[15:30] {dino} tap l .10

[15:30] {Threei}  look for exit around .30

[15:31] {Threei}  there you go

[15:31] {Threei}  easy 25 cents

[15:35] {magoo} ty vad..got .66 stt

06[15:36] * Threei slaps magoo around a bit with a large roll of cash

[15:37] {magoo} just laid it out there are said 3 hail marys

[15:37] {Threei}  .66?

[15:37] {Threei}  I didn't see it getting that high

[15:37] {magoo} yea

[15:37] {magoo} yup just confirmed

[15:37] {Threei}  must have missed

[15:38] {magoo} oh shit.47..got ,66 on WFC

[15:38] {magoo} i got alot going

[15:38] {Threei}  lol

[15:40] {wulff} double bottoms don't usually look so easy to trade...

[15:40] {i2romantis} fas is doing good

[15:40] {nemo} probably got nother spike in it...this is Dino's favorite time of day

[15:40] {Threei}  as STT did you mean, wulff?

[15:41] {wulff} yup

[15:41] {Threei}  in this particular case market spike helped

[15:41] {Threei}  right when STT hesitated

[15:41] {wulff} ok

[15:41] {wulff} quick eyes I guess

[15:44] {Threei}  all three of them

[15:45] {Threei}  +235

[15:45] {Threei}  not huge, but third day in a row

[15:45] {Threei}  nice to see

[15:45] {Threei}  dino's rule is broken

[15:46] {nemo} FAS over 6 tomorrow...

[15:46] {i2romantis} out fas at 5.15 as planned

[15:46] {i2romantis} would be nice to see it at 6

[15:47] {nemo} I think all the talk about adjustments to M2M will let them run for awhile

[15:47] {nemo} Now all these companies are saying they don't need Federal money

[15:48] {dino} because feds telling them what to do

[15:48] {Threei}  we can only guess

[15:48] {Threei}  no one saw thewir books

[15:48] {Threei}  no one knows what's in there

[15:48] {nemo} yeah, just like some of the banks didn't need it in the fall, but free money is free...now it's got strings...true

[15:49] {dino} there is no free lunch

[15:49] {patience} and they want to follow the money paid to offshore bank accounts

[15:49] {Threei}  remember? things are never as good as they look and never as bad as they look

[15:49] {magoo} or as fat as they look

[15:49] {i2romantis} lol

[15:49] {magoo} well, maybe dino

[15:49] {dino} tap to flat

[15:49] {dino} hey i'm down 8

[15:49] {Threei}  who knows, maybe we overstate bad side now jist we overstated good one a few years ago

[15:50] {wulff} So this up day is not happening?

[15:50] {Threei}  lol

[15:50] {Threei}  no wulff

[15:50] {Threei}  and anyone who made money on a long side today must give it back

[15:50] {patience} nope

[15:50] {wulff} (been long FAS for a few days)

[15:51] {Threei}  ideally, we get some pullback or gap down tomorrow, then chatter resumes and we get continuation

[15:51] {Threei}  6 wouldn't be out of question

[15:52] {wulff} I'm thinking 12

[15:52] {Threei}  well, not tomorrow :)

[15:52] {wulff} I'm patient

[15:52] {Threei}  let's take it one day at a time

[15:52] {Threei}  things change fast

[15:52] {wulff} My chair swivels

[15:52] {Threei}  today's darlings are tomorrow's POSs

[15:52] {dino} still watching those monday close gaps

[15:53] {magoo} and dinos minus 8 could easily be plus 3 tomorrow

[15:54] {dino} to .14 tap case of beer

[15:54] {dino} 7 of 7 today, odds going against me for a.m.

[15:56] {magoo} wow...seven of 7

[15:56] {magoo} NICE

[15:56] {dino} out tap

[15:56] {fernp} see you tomorrow. Have a nice evening all

[15:56] {Threei}  take care fern

[15:57] {dino} wow, glad i trailed tight

[15:58] {Threei}  okay guys

[15:59] {Threei}  fairly nice day

[15:59] {Threei}  thank you all

[15:59] {magoo} ty vad

[15:59] {Threei}  have a good evening, see you tomorrow

[15:59] {vint} Thanks Vad, bye all

[16:00] {dino} gn all, gotta hop early, baseball mtg

[16:00] {dino} apei

[16:03] {i2romantis} thx Vad, gnight all

Mar 11 2009

 Happy day for my broker. Pretty much empty day for me. A lot of churning, win here, stop there - finishing the day about flat while raking a lot of shares turned out. Just one of those days.

Session Time: Wed Mar 11 00:00:00 2009

[08:51] {magoo} morning

[08:52] {Threei}  good morning

[08:52] {dptl} good morning

[08:52] {Threei}  fess up mags... took FAS overnight?

[08:52] {Threei}  d :)

[08:52] {magoo} been taking kids to school this week...throwing me off schedule

[08:53] {magoo} no vad...i havent taken a stock over nite in 14 months

[08:53] {magoo} really

[08:53] {magoo} ill play premkt or post mkt

[08:57] {Onix} Good morning

[08:57] {Threei}  onix :)

[08:58] {pita} morning all

[08:58] {magoo} working theory this morn vad?

[08:59] {Threei}  pita :)

[08:59] {Threei}  pullback, consolidation, breakout, rally

[09:00] {magoo} u know...i was thinking same but worded different..pop...drop...pop....rock

[09:00] {Threei}  well... that wording requires less letters and syllables

[09:00] {Threei}  and gods know I am all for simplicity and short words

[09:01] {Threei}  BCON

[09:01] {Threei}  CONFIRMS FULL ENVIRONMENTAL APPROVAL FROM U.S. DEPARTMENT OF ENERGY FOR 20 MEGAWATT FLYWHEEL PLANT

[09:01] {Threei}  that dog is still barking?

[09:05] {KSystems} Hi!

[09:05] {Threei}  ks :)

[09:05] {dino} gm all

[09:06] {dino} so used to end of days, not sure what to read here

[09:06] {dino} online edu's getting hit

[09:07] {Threei}  dino :)

[09:07] {Threei}  well, if we get continuation, that will be a first time in ages

[09:08] {magoo} dow ..s&p only 4 up sessions out of last 17...i dont believe we had 2 in a row

[09:08] {ese} morning all

[09:10] {dino} :)\

[09:12] {Onix} hi ese :)

[09:12] {Threei}  ese :)

[09:12] {ese} morning vad

[09:13] {ese} winnipeg cold lately.....for this time of year

[09:14] {Threei}  well... a bit too cold here too

[09:14] {Threei}  where is al gore

[09:15] {cosmo} had to close some windows here last nite

[09:16] {geo} good morning

[09:16] {Threei}  geo :)

[09:17] {ese} geo

[09:18] {tomg} good morning

[09:19] {Threei}  tom :)

[09:23] {dino} seems too giddy

[09:23] {Threei}  yeah

[09:23] {Threei}  I'd prefer pullback and consolidation to trust the breakout

[09:23] {cosmo} ...if QQQQ has high volume follow thru as it cuts through 28 .... we bottomed  imho

[09:23] {Threei}  break right out of the gate is too likely to fail

[09:24] {pita} watching what?

[09:24] {dino} still not liking yesterdays gaps, imo they will fill at some point

[09:24] {Threei}  FAS, WFC, BAC

[09:24] {Threei}  USB

[09:25] {ese} I would agree with you cos......pretty significant resistance there though

[09:25] {cosmo} yeah ... 

[09:25] {magoo} dino,,they will fill be may take a wek

[09:26] {magoo} week

[09:26] {ese} solid double botom if thats the case

[09:26] {cosmo} 25.05 = QQQQ low

[09:27] {dino} in my best, "so i married an ax murderer" voice... "untrusting"

[09:27] {Threei}  either double bottom, or inverted C&H, ese

[09:27] {Threei}  (US) TREASURY'S KASHKARI: CAN NOT MICRO-MANAGE US BNAKING INSTITUTIONS THAT HAVE RECIEVED GOVERNMENT FUNDS

[09:28] {Threei}  FAS liking it

[09:30] {Threei}  if STT remains true to its form, pullback to 20 or under is likely

[09:30] {Threei}  then sizeable bounce

[09:30] {Threei}  sharp selling at the open... good

[09:32] {cosmo} ASML 16.76 hod    fwiw

[09:32] {Threei}  FAS, want to start building position near 4

[09:33] {nemo} umbrella today?

[09:33] {Threei}  quite posasible

[09:33] {Threei}  3.90 nearest support

[09:33] {Threei}  first strength from here

[09:34] {magoo} pretty  good pull

[09:34] {nemo} so much for the rally

[09:34] {ese} i'm likin 

[09:34] {ese} fas 

[09:34] {ese} as well

[09:35] {Threei}  not yet but very close

[09:35] {nemo} Is Obama speaking?

[09:35] {magoo} lol

[09:35] {dino} mcd

[09:35] {dino} ice

[09:35] {nemo} next support 3.75

[09:36] {Threei}  .81 long

[09:36] {Threei}  in

[09:36] {Threei}  .74 stop

[09:36] {geo} in

[09:36] {nemo} in

[09:36] {Threei}  missed STT... crap

[09:37] {magoo} in

[09:37] {geo} out half

[09:37] {Threei}  out half .93

[09:38] {Threei}  out 1/4 more 4.01

[09:39] {dino} mcd sm l .25

[09:39] {magoo} full out .02 TY VAD

[09:39] {Threei}  stop 3.79 for the last piece

[09:39] {Threei}  welcome mags

[09:40] {fernp} Hello everybody

[09:40] {Threei}  fern :)

[09:40] {geo} all out .08 thanks vad

[09:40] {Threei}  geo :)

[09:41] {Threei}  out last piece

[09:41] {pita} +.20 ty

[09:41] {Threei}  pita :)

[09:42] {geo} hmm NRG crashing DVN rising

[09:44] {Threei}  US CHAMBER OF COMMERCE CEO: MARK TO MARKET ACCOUNTING WAS NOT RESPONSIBLE FOR THE FINANCIAL CRISIS

[09:44] {geo} what????

[09:45] {geo} he should have taken it an run

[09:47] {Threei}  pullback time

[09:48] {Threei}  WFC, watching for entry on pullback

[09:48] {Threei}  .20 zone would be nice

[09:49] {Threei}  if never loses .40, long trigger for breakout is .51

[09:49] {magoo} ok

[09:49] {nemo} Why .51 when high .60?

[09:49] {Threei}  FAS, 4.05 zone to watch for re-entry

[09:49] {magoo} spy nears 73 and we bouince..good long imo

[09:50] {magoo} lets see if pulls back

[09:50] {Threei}  it bumed on .50 couple times before pulling back deeper, want semiagressive entry

[09:50] {magoo} futes going up

[09:51] {Threei}  yeah, shallow pullback

[09:51] {magoo} in wfc .49

[09:51] {Threei}  stop under .35 mags

[09:52] {magoo} out

[09:53] {magoo} lil early

[09:53] {Threei}  on both sides

[09:54] {magoo} yea

[09:59] {magoo} c'mon bulls

[09:59] {Threei}  pullbacks look better

[10:00] {magoo} traders uncertain here

[10:00] {Threei} Long Setup:  WFC  .41 if stays above .30

[10:01] {ese} you thinkin re entry on FAS vad

[10:01] {geo} invalid?

[10:02] {Threei}  SEC'S SHAPIRO: WIL CONSIDER STEPS TO RESTRICT VOLATILITY IN MARKETS

[10:02] {Threei}  yes

[10:02] {Threei}  hmmm

[10:02] {geo} ban magoo

[10:02] {Threei}  restrict volatility?

[10:02] {geo} yup

[10:02] {Threei}  market is not going to like it

[10:02] {geo} him and his 100 lots

[10:03] {Threei}  overall yes ese, but no clear idea yet

[10:04] {Threei}  (US) GEITHNER: TO URGE DECISIVE ACTION DURING G20 MEETING

[10:05] {Threei}  WFC setup is back

[10:06] {nemo} in

[10:06] {geo}   you in vad?

[10:07] {cujo} in

[10:07] {Threei}  yes

[10:07] {geo} stop?

[10:07] {Threei}  same under .30 for scalpers

[10:07] {Threei}  under .25 for day traders

[10:07] {geo} i missed now thinking

[10:07] {Threei}  I missed priginal break too, got .37 on the way back

[10:07] {geo} :)

[10:08] {ese} was lookin at something else and missed first FAS entry

[10:08] {geo} i was in DE on pullback ... got distracted

[10:08] {Threei}  a lot of hesitance here in the market

[10:09] {cujo} stop

[10:09] {Threei}  hard to tell whether it's a shakeout moment or market is fizzling out

[10:15] {vint} good morning everyone

[10:15] {magoo} vint:)

[10:15] {Threei}  vint :)

[10:18] {dino}  well it was selloff time 10:10

[10:18] {Threei}  and no real selloff

[10:19] {Threei}  ok, FAS

[10:19] {Threei}  4.10 is established as support

[10:20] {Threei}  get it wherever you are comfortable with stop size

[10:20] {Threei}  and let's try to give it time

[10:20] {Threei}  want a more serious move

[10:21] {magoo} ok..HL FAS .20..will take more if breaks ouit

[10:21] {cujo} in

[10:21] {magoo} long spy .25

[10:21] {magoo} stop .94

[10:22] {Threei}  frigin WFC shook us out

[10:22] {magoo} toughie

[10:22] {magoo} could esxplode too to 13

[10:24] {Threei}  USB, watching for pullback into 12.50

[10:24] {Threei}  if we make a new high here, this market action has potential for another leg of rally

[10:24] {ese} in FAS

[10:25] {ese} .24

[10:25] {magoo} yea..just need to step up here and now

[10:25] {Threei}  a bit too far from where I started screaming...

[10:25] {ese} i hope your talking about FAS mags....exploding to 13

[10:25] {Threei}  but new high is being made

[10:25] {magoo} this ois IS the moment

[10:25] {Threei}  ok guys, game plan

[10:25] {magoo} SPY best trade potential

[10:26] {Threei}  stop is still under 4.10,

[10:26] {magoo} 73.70 area.first resist

[10:26] {magoo} then to the moon

[10:26] {Threei}  want to sell half closer to 4.50, then re-evaluate

[10:26] {magoo} which vad?

[10:26] {magoo} FAS?

[10:26] {Threei}  what else do we have in this price?

[10:27] {magoo} i WFC too

[10:27] {Threei}  4.50?

[10:27] {magoo} in .35

[10:27] {geo} USB ripping

[10:27] {magoo} wfc there now

[10:27] {magoo} [10:26] {&Threei}  want to sell half closer to 4.50, then re-evaluate

[10:27] {magoo} i could cut WFC

[10:27] {magoo} oh SHIT

[10:28] {Threei}  mags... how do 4.50 and 12.50 look any similar to you???

[10:28] {magoo} 12.50 lol

[10:28] {dino} v sm l .50

[10:28] {magoo} ROFLOL

[10:28] {magoo} i just looking at .50 he he

[10:28] {magoo} hey..i got 3 going here

[10:29] {Threei}  USB, I am crying

[10:30] {Threei}  *DOE CRUDE: +750J V -500KE

[10:30] {Threei}  GASOLINE: -2.99M V -1ME; DISTILLATE: +2.11M V +200KE; CAPACITY UTILIZATION: 82.7% V 83.1%E

[10:30] {magoo} WFC first exit .70 are

[10:30] {Threei}  guys, manage FAS according to your risk tolereance and share size

[10:31] {geo} moving top to .18 vad?

[10:31] {geo} stop

[10:31] {magoo} ESE

[10:31] {Threei}  with .18 - .20 entry, we are solidly over 1:1

[10:31] {Threei}  my idea is different geo

[10:31] {Threei}  I want to sell half,

[10:32] {geo} at .5?

[10:32] {magoo} out ESE

[10:32] {magoo} .69

[10:32] {magoo} look for pullbk

[10:32] {Threei}  then if it pulls back into our buying range, buy that half back

[10:32] {Threei}  with original stop

[10:32] {magoo} out FASTY BOSS

[10:32] {Threei}  welcome

[10:32] {magoo} sorry confuision

[10:32] {Threei}  that's ok, I understood

[10:33] {Threei}  I can read magooish

[10:33] {magoo} i was watching the cents

[10:33] {magoo} ESE?

[10:33] {Threei}  but I can't miss any chance to tease you

[10:33] {magoo} SIGH.............i miss the slaps 

[10:33] {Threei}  what's to miss

06[10:34] * Threei slaps magoo around a bit with a large roll of cash

06[10:34] * Threei slaps magoo around a bit with a large chart of uptrending market

[10:35] {magoo} i may be all f'ed up...but both trades made $$

[10:36] {magoo} futes need to hold here BIG TIME

[10:37] {dino} pcln

[10:39] {magoo} JPM drilled vad

[10:39] {Threei}  a bit too far from the low of this pullback...

[10:40] {magoo} mkt needs to make up mind to POERUP

[10:40] {magoo} POWER UP

[10:40] {magoo} lol

[10:41] {magoo} DINO COFFEE..cant leave my desk

[10:42] {Threei}  US CONGRESSMEN URGE MANDATORY NATIONAL ANIMAL ID SYSTEM TO PREVENT SPREAD OF ANIMAL DISEASE

[10:42] {Threei}  yup

[10:42] {Threei}  this is the urgency of the moment

[10:44] {geo} vad you bank any on fas?.... i partialled

[10:44] {Threei}  yes

[10:44] {Threei}  watching for either stop or adding half back

[10:45] {pita} add back where?

[10:45] {Threei}  stop is under .10

[10:45] {Threei}  if holding it and starts recovering, will try to determine entry

[10:46] {pita} ty

[10:46] {Threei}  ok... .15 if holding above .10

[10:47] {Threei}  not holding

[10:47] {Threei}  oh well

[10:48] {Threei}  look at WFC selloff

[10:48] {nemo} Looks like no one's convinced yesterday is for real

[10:48] {dino} breakdown coming imo, sm l sds .50

[10:51] {nemo} .05 new support for fas?

[10:51] {Threei} Long Setup:  GE  9 break for a scalp

[10:52] {fernp} stop 8.87?

[10:52] {magoo} in

[10:52] {Threei}  for hardcore scalpers, stop .94

[10:52] {Threei}  for the rest .89

[10:54] {dino} stay away from me today, way off

[10:54] {nemo} well, then, we might as well hangout Dino

[10:54] {dino} lol

[10:54] {geo} whats up with pcln?

[10:55] {cosmo} qqqq 28 test soon

[10:55] {cosmo} i think

[10:56] {magoo} where u in cosmic?

[10:57] {dino} pcln?

[10:57] {cosmo} once you're in, you're in for good....

[10:57] {Threei}  no news that I see for PCLN

[10:58] {Threei}  SEC'S SHAPIRO: FASB WILL PROVIDE MARK-TO-MARKET ACCOUNTING GUIDANCE - Q&A

[10:59] {Threei}  UPDATE: WEAKNESS IN TRAVEL STOCKS BEING ATTRIBUTED TO EXPE LAUNCHES SPECIAL FLIGHT PROMOTION THAT INVOLVES WAVING BOOKING FEES UNTIL 5/31

[10:59] {Threei}  {OWW PCLN}

[10:59] {geo} thanks

[11:00] {Threei}  SEC'S SHAPIRO: THERE IS 'CLEAR INTEREST' FOR RESTORATION OF UPTICK RULE; FASB WILL PROVIDE MARK-TO-MARKET ACCOUNTING GUIDANCE IN Q2; AND SEC DOES NOT SUPPORT SUSPENSION OF MARK-TO-MARKET RULES - Q&A

[11:00] {Threei}  - Notes that it was not the SEC's intention to have hard to value assets marked to fire sale levels

[11:01] {Threei}  pres on TV

[11:02] {Threei}  Shapiro

[11:02] {Threei}  - Says that she hopes to get the uptick rule out in April{

[11:02] {wulff} in ge

[11:03] {magoo} dont care about uptick

[11:03] {Threei}  neither do I

[11:03] {magoo} do NOT want that traders TAX

[11:05] {cosmo} remember the $35 commission?

[11:05] {Threei}  Terrfic Tim is speaking now

[11:05] {Threei}  vividly cosmo

[11:06] {nemo} that'll make $35 commission look like pocket change

[11:06] {Threei}  yup

[11:06] {magoo} it will kill us

[11:06] {cosmo} oh

[11:06] {geo} not happenning

[11:06] {Threei}  nope

[11:06] {nemo} thanks geollum

[11:06] {geo} was hearing a talk by ameritrade director of trading

[11:07] {geo} also a major lobbyist

[11:07] {Threei}  no wonder

[11:07] {Threei}  their business is finished in one day if that proposal is passed

[11:08] {dino} sm l pcln .01

[11:09] {nemo} financials are flatlining

[11:09] {ese} qqqq working it's way to 28 cos

[11:09] {cosmo} now i wonder...

[11:10] {cosmo} ASML seems to lead

[11:11] {geo} your stop dino?

[11:11] {Threei}  US SENATOR DODD: CONGRESS MAY TAKE MEASURES IN FINANCIAL SECTOR TO MAKE SURE THAT REGULATORY ADJUSTMENTS WILL NOT HAMPER INNOVATION

[11:12] {Threei}  these guys just can't stop talking, can they?

[11:12] {cosmo} ... in real estate...

[11:12] {geo} either previous lawyers or class presidents

[11:13] {Threei}  US HOUSE: AIMING TO ADJUST EARMARKS; REQUIRE PROJECT FUNDING AIMED TOWARDS 'FOR PROFIT' COMPANIES TO BE BID UPON

[11:14] {dino} geo on your own, it like pulp

[11:14] {geo} heheh i am loving it

[11:14] {geo} lots of air

[11:15] {geo} you have a target?

[11:15] {fernp} no worky GE

[11:15] {dino} 76?\

[11:15] {geo} cool same here

[11:15] {geo} been watchint it all day

[11:15] {geo} made some on way down

[11:15] {geo} but scary stock

[11:16] {wulff} good call on pcln dino

[11:16] {dino} hard stop 75

[11:16] {dino} ty

[11:17] {dino} started out wrong today

[11:17] {geo} me too

[11:17] {dino} stopped pcln, damn, +1.01

[11:17] {geo} ok out

[11:17] {geo} same here

[11:17] {geo} but had a lot

[11:17] {geo} hehehehe

[11:18] {geo} i think i am going to stop trading for the day

[11:18] {dino} gj geo

[11:18] {cosmo} just take a nap

[11:18] {geo} was a lill stress full

[11:18] {geo} was in GE but cancelled at break even as wast going anywhere

[11:18] {geo} wasnt

[11:19] {geo} dino rinse on stop?

[11:19] {geo} volume shows more juice

[11:19] {dino} looks like it

[11:19] {dino} 73.60s

[11:20] {dino} 74.60 i mean

[11:20] {nemo} volume similar to yesterday so far

[11:20] {dino} careful mkt drop

[11:21] {dino} sds major rinse

[11:22] {Threei}  CAT formed inverted C&H

[11:23] {Threei}  26.10 becomes a short trigger, but I'd like to see some consolidation first

[11:23] {Threei}  it dropped a bit too sharply

[11:23] {ese} just looked at PCLN....nice one dino

[11:24] {dino} ty

[11:24] {geo} darn 76 dinoo

[11:24] {geo} my stop was too tight but had too much money at stake

[11:24] {Threei}  prez on TV

[11:25] {geo} probably still trying to campaign

[11:26] {geo} he is like the hidden japanese still fighting WWII

[11:26] {geo} someone tell him... campaign is over

[11:27] {dino} roflol

[11:27] {dino} he complains about shorts, but his talking is the biggest short going

[11:29] {dino} me too geo, sorry, but it had 35 cent cushion

[11:29] {dino} laying in wait at 75.40

[11:30] {geo} it was a great trade... thanks dino.... i had been going short on it.... 

[11:30] {dino} "end of old ways" must mean pass what i say

[11:31] {nemo} He's borrowing from Chavez in Venezuela..talktalktalktalktalktalktalk

[11:32] {dino} reminds me of him, takes over bank, insurance companies, autos, etc. he just went for money centers rather than oil

[11:32] {dino} socialist or worse

[11:32] {Threei}  EFC

[11:32] {Threei}  WFC

[11:33] {Threei}  back in day's low

[11:33] {fernp} DRYS forming a DBI

[11:33] {Threei}  .81 long

[11:33] {Threei}  .75 stop

[11:34] {Threei}  no go

[11:35] {Threei}  wow

[11:37] {ese} outta here for a litle while....see you in a bit hopefully....

[11:37] {Threei}  take care ese

[11:38] {ese} see ya vad

[11:42] {Threei}  if market resumes down, let's try semi-aggressive entry on CAT

[11:43] {Threei}  .29 short if stays below .40

[11:53] {Threei}  US TREASURY'S KASHKARI: TREASURY RECEIVED $2B IN TARP DIVIDENDS IN Q1

[11:54] {Threei}  so, they are making money on it?

[11:54] {Threei}  all is well?

[11:56] {dino} axys

[12:01] {dino} sm l pcln .50

[12:02] {dino} what do you make of axys

[12:02] {dino} up for sale, but????????

[12:03] {Threei}  11:13am [AXYS] Has reportedly put itself up for sale; first round bids were due on Tuesday; reportedly AXYS seeking about $60/shr - unconfirmed report

[12:06] {dino} somebody knows something

[12:07] {Threei}  SEC'S SCHAPIRO: HEDGE FUND RULES SHOULD REQUIRE DISCLOSURE OF TRADING AND HOLDINGS

[12:07] {Threei}  huh?

[12:08] {Threei}  that sounds beyond weird to me

[12:11] {Threei}  03/11/09 11:44am

[12:11] {Threei}  [MCK] McKesson Corp Drug distributor weakness attributed to comments at Barclays conference and Rite Aid concerns

[12:11] {Threei}  - hearing MCK management indicated a recent decrease in core distrubuiton businesses notabley from physicians offices

[12:11] {Threei}  - separately, a Deutshce Bank note expresses concerns over exposure to Rite Aide, which accounts for 13% of MCK sales.

[12:12] {Threei}  serious selloff MCK

[12:13] {wulff} do you have an opinion on whether to sell swing/pos. trades on resistance or into stronger buying?

[12:13] {Threei}  too general question...

[12:13] {Threei}  depends on a type of the market

[12:13] {wulff} how about this one

[12:13] {Threei}  in a ranging market, resistance

[12:13] {Threei}  in trending, shrp spikes

[12:14] {wulff} ok

[12:14] {Threei}  we don't have uptrending market yet

[12:14] {nemo} psychotic

[12:14] {Threei}  so far it's just a bounce in downtrend

[12:16] {Threei}  GS new high

[12:16] {nemo} CAT Vad, sneaking above 11:12 peak

[12:18] {Threei}  watching GS pullbackfor bounce entry

[12:19] {Threei}  sharp selling into .50 - .60 zone would be interesting

[12:21] {dino} out pcln slipped .80, +.30

[12:23] {Threei}  I don't get CAT today

[12:26] {dptl} Vad...nflx and ebs short? what do you think?

[12:26] {Threei}  NFLX, a bit conflicting

[12:27] {Threei}  intraday chart is DBI, bu on daily it dropped sharply into support

[12:27] {Threei}  with any market help feels like bounce to me

[12:27] {dptl} ok ty

[12:28] {Threei}  EBS still has room to downside

[12:28] {Threei}  if makrt drops more and breakdown follows, I'd prefer EBS as a short over NFLX

[12:28] {dptl} ty

[12:31] {Threei}  look... tiny market bounce, NFLX jumps 30 cents

[12:31] {Threei}  EBS stays near low

[12:31] {dptl} yes

[12:31] {Threei}  kind of reinforces the read

[12:35] {dino} sm l pcln .10

[12:41] {Threei}  I hate CAT today

[12:42] {cosmo} Cheshire Cat ...maybe

[12:43] {Threei}  feels short and works on a short side, but entries are totally counterintuitive

[12:43] {Threei}  can't get it right

[12:44] {cosmo} yea ....had to nap here

[12:45] {cosmo} now i got a kink in my neck

[12:47] {cosmo} ah ... its the full moon

[12:52] {Threei} Short Setup: WFC  .45 if stays under .55

[12:54] {Threei}  lol... oversupply of hybrids

[12:54] {nemo} yeah, toyota having  tough time

[12:54] {Threei}  a loty of unsold ones

[12:54] {Threei}  big drop in value of used ones

[12:55] {nemo} Why .45 w support under .40?  aggresive entry?

[12:55] {Threei}  now, let's push GM and F to make more of those and kill them finally

[12:55] {Threei}  yes, bounced from here a few times

[12:55] {nemo} so, if it goes there again, likely to fail?

[12:56] {Threei}  with market help, yeah, and it has a manner to drop sharply

[12:56] {Threei}  so I don't want to chase into the next support

[12:56] {Threei}  trying to find entry point that would get us in earlier and with tighter stop

[12:56] {nemo} @.20?

[12:57] {Threei}  then we wil have less risk and more opportunity to cover into sharp drop

[12:57] {Threei}  why .20? its low is .32 so far

[12:58] {nemo} looking at yesteray around 2:45

[13:00] {Threei}  1:1, covering half

[13:00] {Threei}  US TREASURY'S GEITHNER: TO OUTLINE REGULATORY PLAN BEFORE APRIL MEETING OF G20

[13:03] {dino} they really take their time on this 

[13:04] {dino} what was the point of the big feb 10th mtg

[13:04] {Threei}  well dino... up to couple days ago appointments, Timmy was home alone

[13:05] {Threei}  kind of tough to regulate whole financial sector when you don't have anyone to type the letter for you

[13:11] {dino} hmmmm

[13:13] {Threei}  fern, thank you for MPP review

[13:14] {fernp} welcome

[13:14] {nemo} you out vad?

[13:14] {Threei}  ?

[13:14] {nemo} wfc

[13:14] {Threei}  oh, second half

[13:14] {dino} sm l cmtl .03

[13:14] {nemo} yes

[13:14] {Threei}  sure, stop trails to above b/e after 1:1

[13:16] {Threei}  anyone shorted EBS on 17 break?

[13:16] {Threei}  almost 70 cents

[13:17] {Threei}  dp??

[13:18] {dptl} no missed it was ivolved with ads for +.20...and mised entry

[13:18] {Threei}  great... not only no one pays attention, even one who asks the question pays no attention to answer... lol

[13:19] {Threei}  anyway, look at the difference in behavior between EBS and NFLX

[13:19] {dptl} :) ye was waiting waiting and mised didnt want to chase it

[13:23] {Threei}  US TREASURY'S KASHKARI: CONCERNED OVER PROPECTS THAT THE BANKS MAY NOT DESIRE TARP CAPITAL

[13:23] {Threei}  huh?

[13:23] {Threei}  what the heck is going on today

[13:24] {Threei}  comments seem to be from some other universe

[13:24] {nemo} Bizzaro World

[13:24] {Threei}  how the fact that banks are so healthy that they don't need/want taxpayers money can be troubling?

[13:25] {cosmo} maybe its to avoid being nationalized

[13:26] {Threei}  there are so many logical fallacies and inconsitencies in that, I don't even know where to begin

[13:26] {Threei}  just one:

[13:26] {Threei}  so he is concerned that banks may not want to be nationalized?

[13:27] {cosmo} or maybe to avoid interfering with the forclosure process

[13:28] {Threei}  you guys need that midterm election NOW

[13:28] {Threei}  not in 2010

[13:28] {cosmo} dunno here ... spinning my wheels too

[13:28] {Threei}  and you know the names to throw out, right?

[13:28] {cosmo} yep

[13:29] {Threei}  starting with 8 tax-happy folks

[13:29] {nemo} Doesn't matter, nobody understands who to elect...

[13:29] {Threei}  and ending with "FRE and FNM will do what I tell them to do" bloke

[13:29] {nemo} Plus, you have to deal w/statistical distribution of the electorate's intelligence

[13:30] {cosmo} as well as retention incentives

[13:30] {nemo} what immodium?

[13:31] {dino} well, thats what won him the election, the inner cities

[13:31] {Threei}  yeah... as old joke goes, "Total of the intelligence on tha planet is constant... while population increases"...

[13:31] {Threei}  hey guys, guess what

[13:31] {Threei}  Prez on TV

[13:31] {cosmo} oh

[13:32] {fernp} Venezuela tv?

06[13:32] * Threei quietly dissolves in the night

[13:32] {nemo} I was just gonna' say, but thought...nah...6 times in one day too much

[13:32] {cosmo} 6?

[13:32] {Threei}  3rd time today

[13:32] {dptl} he is tv star now

[13:32] {nemo} joke

[13:33] {nemo} but I thought it was only the 2nd....sheesh

[13:33] {Threei}  JPM CEO: BANK STRESS TESTS WILL BE 'VALUABLE'; WILL DETERMINE WHICH BANKS ARE HEALTHY AND WHICH ARE NOT

[13:33] {cosmo} seems more like 1/2 dozen

[13:33] {Threei}  yeah... too bad we will never know

[13:34] {ese} yo back for a litle bit....everybody filthy stinky rich yet??   

[13:34] {dptl} how about sivb short?

[13:35] {nemo} Hey guys, wanna see a great email?

[13:35] {ese} go for it

[13:35] {nemo} I  became confused when I heard the word 'service'  used with these agencies. 

[13:35] {nemo} Internal Revenue  'Service' 

[13:35] {nemo} U.S. Postal  'Service' 

[13:35] {nemo} Telephone 'Service' 

[13:35] {nemo} Cable TV 'Service'  

[13:35] {nemo} Civil  'Service' 

[13:35] {nemo} State, City, County & Public   'Service' 

[13:35] {nemo} Customer 'Service' 

[13:35] {nemo} This is not what I  thought 'service' meant 

[13:35] {nemo} But today, I overheard two farmers talking, 

[13:35] {nemo} and one of them said he had hired a bull to 'service' a few cows. 

[13:35] {nemo} BAM!!!  It all came into focus.

[13:35] {nemo} Now  I understand what all those agencies are doing to us.  

[13:35] {nemo} Now you are as enlightened as I am.

[13:36] {ese} ha ha ha.....perfect

[13:36] {fernp} lol

[13:36] {cosmo} yea... its some cult terminology after al ...sheesh

[13:36] {cosmo} all

[13:39] {nemo} Vad WFC long if it breaks .60?

[13:39] {nemo} damn missed it

[13:39] {Threei}  wait for pullback

[13:40] {nemo} I ain't no hero

[13:40] {Threei}  this starts feeling like new leg up is forming

[13:40] {Threei}  market sat quietly

[13:40] {Threei}  discouraged longs

[13:40] {Threei}  now starts new assault on encouraged shorts

[13:40] {nemo} Figures, gotta' leave soon

[13:41] {nemo} woulda' been a nice sclap

[13:41] {nemo} scalp

[13:41] {Threei}  yes but market spike came out of nowhere

[13:41] {Threei}  was impossible to anticipate

[13:42] {Threei}  what we can do though is use it as an indication of intentions

[13:43] {cosmo} its the nature of the service...

[13:43] {Threei}  .60 is support now

[13:43] {Threei}  pullback closer to is should be an entry

[13:44] {Threei}  in

[13:44] {Threei}  for scalpers stop under .60

[13:44] {Threei}  for a day trade,, under .50

[13:47] {dino} cmtl stopped

[13:51] {nemo} out

[13:52] {Threei}  JPM CEO: TIME FOR 'NEW IDEAS' IS OVER; MORTGAGE MODIFICATION PLAN IS 'APPROPRIATE' - Q&A

[13:52] {Threei}  PREVIEW: FEB MONTHLY BUDGET STATEMENT DUE OUT AT 2PMET

[13:52] {Threei}  **consensus expectation: -$205Be v -$175.6B

[13:52] {nemo} I'll bet their's a negotiation to save their asses if they agree to that

[13:53] {nemo} That is...in the new regulatory framework

[13:55] {Threei}  market is hesitating before the budget statement

[13:55] {Threei}  if number is any good, should explode

[13:55] {nemo} Don't think it will be or they would have leaked it

[13:55] {Threei}  I use "good" in a very loose sense

[13:55] {nemo} understood...back to the leper only losing a toe today

[13:56] {Threei}  right

[14:00] {Threei}  half out WFC

[14:00] {Threei}  *FEB MONTHLY BUDGET STATEMENT: -$192.8B V -$205BE

[14:02] {Threei}  hmmm... I'd expect more from that

[14:02] {nemo} no trust

[14:03] {nemo} Cat looks like it might want to go short

[14:04] {Threei}  out WFC second half .79

[14:04] {nemo} Actually, multiply those numbers by 12, maybe that's what sunk in.

[14:05] {Threei}  +.16

[14:05] {Threei}  this is pathetic

[14:06] {nemo} That's better than a 2 trillion $ deficit

[14:07] {nemo} greater, that is

[14:07] {Threei}  FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS

[14:07] {Threei}  who said it was?

[14:09] {nemo} Notice how disjointed the news is getting?

[14:09] {Threei}  state of high confusion?

[14:09] {nemo} Yes...

[14:11] {nemo} anybody take that CAT short?

[14:11] {Threei}  gotta try another scalp on WFC, using FAS as lead

[14:12] {Threei}  in .57

[14:13] {Threei}  funny stop, .54

[14:16] {Threei}  nope

[14:17] {Threei}  FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS

[14:17] {Threei}  - Admits there "are some problems" with fair-value accounting.

[14:17] {Threei}  - Plans to offer guidance very shortly on whether market is "active or inactive."

[14:21] {Threei}  so, all their blabbing took market negative so far

[14:21] {Threei}  aren't they good at it

[14:34] {Threei}  time for eod projections

[14:34] {Threei}  mags?

[14:34] {magoo} down

[14:34] {Threei}  dino, got an input?

[14:35] {nemo} flat

[14:35] {dino} down big tomorrow

[14:35] {nemo} but one could argue flat is down

[14:35] {dino} or up is down on opposit day

[14:36] {nemo} an here comes the rally

[14:36] {Threei}  thwe what?

[14:36] {dino} maxim hot 100 on vh1

[14:36] {nemo} 'ally

[14:37] {dino} alxn

[14:37] {cosmo} followed by the intictments...

[14:37] {Threei}  lol

[14:37] {cosmo} then more 'ally

[14:37] {nemo} then the prez

[14:39] {magoo} going to restroom to see if push mkts up

[14:41] {Threei}  that's one wasted restroom trip

[14:41] {nemo} probably not from mags point of view

[14:42] {magoo} bacxk

[14:42] {magoo} ALRIGHT

[14:42] {cosmo} wtg

[14:45] {nemo} RIM if breaks 40.10?

[14:45] {dino} airm

[14:45] {nemo} RIMM

[14:46] {Threei}  CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC

[14:46] {Threei}  squeze or fizzle?

[14:47] {Threei}  not delighted by idea of buying RIMM after this spike

[14:47] {Threei}  if consolidatwes a bit and then breaks, maybe

[14:48] {nemo} even if it breaks resistance?

[14:48] {Threei}  it spiked into resistance

[14:48] {nemo} spikes just to sporadic?

[14:48] {nemo} no, if it get's through resistance?

[14:49] {Threei}  I don't buy break of resistance if a stock spiked into it

[14:49] {nemo} o.k. cool

[14:49] {dino} profitable in what line of business, i don't buy it

[14:49] {nemo} excuse me Dino?

[14:50] {Threei}  if it goes through consolidation etwee, 40.10 and some support close enough, then it's a buy

[14:50] {nemo} understand, break through, retreat a bit, hang around for awhile, then go?

[14:51] {dino} jpm profitable nemo

[14:51] {nemo} oh, but was that Dimon saying that?

[14:51] {dino} [14:46] {Threei}  CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC

[14:52] {nemo} Well, if they aren't then that's putting his head in a noose along with the Citi guy.  However, this is the last week they can sell stock before they go into the earnings black-out period

[14:53] {nemo} Look at FAS WFC RIMM, poling around resistance

[14:53] {Threei}  WFC retreats

[14:54] {Threei}  FAS too

[14:54] {nemo} FAS too...maybe

[14:54] {Threei}  RIMM looks a bit better

[14:54] {Threei}  but needs another market spike

[14:56] {cosmo} HPQ hod =28.80  fyi

[14:57] {magoo} vad..what was yours?up downfat

[14:57] {Threei}  problem with all this moves here is, they are good for 5-7 cents scalps

[14:57] {nemo} yeah, great for the broker

[14:57] {Threei}  yeah

[14:57] {Threei}  down mags

[14:57] {Threei}  I will be very surprized if we go up into close

[14:58] {Threei}  pleasantly surprized

[14:58] {Threei}  so far, it's not a market to buy 5K on a few stocks and fall asleep for hald of the day

[14:58] {Threei}  half

[14:58] {nemo} how about 10 minutes

[14:59] {Threei}  not even that

[14:59] {Threei}  we will be there

[14:59] {nemo} Markets RIMM looking weaker

[14:59] {Threei}  and those will be the days of the easiest money in months if not years

[15:00] {Threei}  but to get there we will go through some more struggle

[15:01] {cosmo} new currency maybe

[15:01] {nemo} O.K.  Moses

[15:03] {nemo} WFC back at resistance

[15:03] {nemo} C&H almost

[15:03] {Threei}  same for FAS

[15:03] {Threei}  RIMM should do a quick trip down now, to around .10

[15:04] {Threei}  should be good for a scalp

[15:04] {Threei}  US REP BOUCHER: TO PURSUE REGULATIONS ON INTERNET COMPANIES FOR PRIVACY RIGHTS

[15:05] {cosmo} rights for whom?

[15:05] {Threei}  no idea

[15:05] {cosmo} exactly

[15:08] {cosmo} HPQ tests

[15:08] {cosmo} soon

[15:09] {Threei}  US PRESIDENT OBAMA FORMALLY SIGNS $410M OMNIBUS BILL TO FUND GOVT OPERATIONS THROUGH SEPT

[15:10] {dino} v stop to .95 all dayer

[15:12] {dino} surprised he wasn't on tv for it

[15:12] {Threei}  3 times today

[15:12] {Threei}  4th would be a record

[15:13] {nemo} He's gonna give slick willie a run for his money as a camera hound

[15:14] {cosmo} he's got an easy act to follow...

[15:14] {cosmo} .. for now

[15:15] {nemo} look at this run

[15:15] {cosmo} 'un

[15:15] {nemo} 'ally

[15:16] {dino} out v .05, +.55

[15:16] {Threei}  bigger pullback this time

[15:17] {nemo} back to the river Styx

[15:20] {dino} pcln stop to .50

[15:21] {cosmo} QQQQ 28 in sight

[15:21] {Threei}  looks like all pullbacks are entries

[15:21] {dino} to .75

[15:22] {dino} out .80, +.70 hours

[15:22] {Threei}  WFC around .05 - .07

[15:23] {Threei}  if the pattern holds

[15:23] {nemo} IF?  sheesh

[15:23] {cosmo} off to the 'aces?

[15:24] {nemo} I'm the wrong person to ask

[15:24] {Threei}  in .08

[15:24] {dawg} in .07

[15:24] {dawg} half lot

[15:26] {Threei}  tried to exit half at .15, didn't get a hit

[15:26] {dawg} nada

[15:27] {magoo} in 09

[15:27] {dino} you guys really don't want chaeron here

[15:27] {Threei}  not until he rfemembers his password

[15:28] {Threei}  doesn't look encouraging

[15:29] {Threei}  out

[15:29] {nemo} no had the same formation between 14:40 and 14:50

[15:29] {dawg} out

[15:34] {nemo} This really isn't a bad market day after the insane run up yesterday.  The financials are basically up again.

[15:34] {nemo} It might be a lie, but...

[15:35] {nemo} volume a tad light, but for a "consolidation" day...might make sense

[15:36] {Threei}  I agree

[15:37] {nemo} Good...I'll go put the order in for the Lamborghini :)

[15:37] {nemo} At my local model shop, that is...

[15:39] {nemo} Gotta' go.  WFC wegdging through 12

[15:39] {nemo} wedging

[15:40] {Threei}  dawg... thing is laughing at us

[15:40] {cosmo} Qs test

[15:41] {cosmo} sorta late....

[15:41] {dawg} yessir i agree

[15:42] {Threei}  freakishly empty day for me

[15:42] {Threei}  win here stop there

[15:42] {dawg} same

[15:43] {Threei}  looking at the amount of shares I tarded today,

[15:43] {Threei}  broker must be sending flowers to me just about now

[15:43] {Threei}  and I have nothing to show for it

[15:43] {dawg} same

[15:43] {dawg} here

[15:43] {Threei}  90K shares

06[15:45] * Threei slaps laserdave around a bit with a large roll of cash

[15:49] {laserdave} hey thanks

[15:49] {laserdave} needed that

[15:49] {Threei}  market really must be changing

[15:49] {Threei}  I have these days of read being so lukewarm when some underlying currents change

[15:50] {dino} 1/4 here vad

[15:50] {Threei}  1/4?

[15:50] {dino} of daily, lasts all today, yesterday 2x

[15:50] {Threei}  oh

[15:51] {Threei}  I am flat out flat

[15:51] {dino} thought it was me, hot and cold all day

[15:51] {Threei}  but scared to even look at commissions

[15:51] {Threei}  and ECN passthroughs

[15:52] {cosmo} and other taxes

[15:52] {Threei}  what taxes?

[15:52] {dino} {10k for me no biggie

[15:52] {cosmo} oops...getting ahead

[15:52] {Threei}  way ahead

[15:52] {Threei}  I swore off taxes until 1 day after my death

[15:53] {dino} good luck w/that, they will come looking for you

[15:53] {dptl} ok...have a good evening all...

[15:54] {Threei}  on that day? They are totally welcome

[15:54] {Threei}  take care dp

[15:54] {dino} believe me, before that day

[15:55] {dino} heck of a sell off

[15:55] {Threei}  I am sure they'll be sympathetic when I explain that I am trying to quit all bad habits

[15:56] {Threei}  and paying taxes is number one on my list

[15:56] {Threei}  I'll get to smoking as soon as I defeat this one

[15:56] {cosmo} watch out for the helicopters 3i

[15:57] {Threei}  they need to work with me by trying to deal with their addiction to my taxes as well though

[15:57] {Threei}  and I am not sure they are very good at it

[15:58] {Threei}  FAS closes differently today

[15:58] {Threei}  yesterday it closed at the highg

[15:58] {Threei}  today retreated half way

[15:59] {Threei}  not taking it overnight

[15:59] {Threei}  DJI +5

[16:00] {Threei}  as laughable as it is, second green day in a row

[16:00] {Threei}  okay guys

[16:00] {Threei}  trying day

[16:00] {cosmo} tomorrow looks good tho

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good evening

[16:01] {Threei}  see you tomorrow

[16:01] {fernp} ty Vad, Good evening all

[16:01] {vint} good evening all, see u all tomorrow

Mar 10 2009

Nice start for the day with a few winning trades on BAC, MS, CAT, PALM, WFC . The second half was lukewarm as market couldn't make up it's mind between pullback and rally continuation.                                                                                                                    

Session Time: Tue Mar 10 00:00:00 2009

[08:39] {Threei}  Good mornng

[08:39] {nemo} :)

[08:39] {dptl} good morning

[08:39] {Threei}  nemo, dp :)

[08:40] {Threei}  ok... am I the only gambler who took BAC overnight?

[08:40] {Threei}  15:59] {Threei} gambling types can take BAC home

[08:40] {Threei}  [15:59] {Threei} thank you all, have a good evening

[08:40] {Threei}  if so, then I am the only ne starting the day with +400

[08:45] {magoo} morning

[08:45] {Threei}  03/10/09 00:22am

[08:45] {Threei}  (US) FDIC's Bair: The US govt's plan to remove troubled assets from banks could force some firms to record large losses - Washington Post

[08:45] {Threei}  - Insists the plan would help restore confidence in the banking system.

[08:45] {Threei}  - Cost may exceed the $700B Congress approved to bailout the US financial system.

[08:45] {Threei}  - Government plans to invite private investors to buy troubled assets, in part by providing financing at a low cost.

[08:45] {Threei}  - The extent of the federal subsidy was still under discussion.

[08:45] {Threei}  - The administration hopes to find the right balance and announce the details within the next two weeks, according to people familiar with the matter.

[08:45] {Threei}  - The original plan to buy troubled assets faltered in part because of concerns about the cost.

[08:45] {Threei}  magoo :)

[08:46] {Threei}  mags..

[08:46] {Threei}  [08:40] {Threei} ok... am I the only gambler who took BAC overnight?

[08:46] {magoo} u had the read wfc vad..11 it is

[08:46] {Threei}  yeah but on BAC I even monetized the read

[08:47] {Threei}  USB's nice too

[08:49] {magoo} skf down 26...faz down 15

[08:49] {magoo} could today be a rea;l REAL up day?

[08:49] {magoo} u got any call for me this premkt here?

[08:50] {Threei}  no

[08:59] {pita} gm all

[08:59] {Threei}  pita :)

[09:00] {Threei}  REPORTELDY SEC WILL NOT SUSPEND MARK-TO-MARKET ACCOUNTING - UNCONFIRMED SOURCE

[09:02] {cosmo} i thought the original plan to buy troubled assets faltered in part because of  the retention incentive imperative.

[09:02] {Onix} gm all

[09:02] {cosmo} do not call them bonuses

[09:02] {Threei}  cosmo, onix :)

[09:02] {cosmo} 3i:)

[09:03] {Threei}  FED'S BERNANKE: BEGINNING TO STRENGTHEN STYSTEMICALLY IMPORTANT FIRMS - Q&A

[09:03] {nemo} well, looks like a lot of hope in the financials was the M2M suspension

[09:04] {Threei}  WFC is still going up

[09:04] {Threei}  BAC returned to the high

[09:04] {nemo} BAC too, how's C

[09:04] {Threei}  FAS is dropping

[09:04] {Threei}  well, with C's range can't even tell, lol

[09:04] {nemo} magnifying glass?

[09:05] {Threei}  yeah

[09:06] {ese} morning

[09:07] {Threei}  ese :)

[09:07] {dawg} gm all

[09:07] {ese} dawg

[09:07] {dawg} ese gm

[09:08] {Threei}  dawg :)

[09:09] {ese} theory question Vad.....are these basically the most difficult times you can go through as a trader.......and if we can make it trough this does it bode well for us?

[09:09] {ese} hard question I know

[09:09] {cosmo} AVAV gets a big air pocket

[09:10] {Threei}  second part of the question is definitely yes

[09:10] {Threei}  first, ummm

[09:10] {Threei}  it's hard to answer

[09:10] {geo} good morning

[09:10] {Threei}  geo :)

[09:10] {ese} geo

[09:10] {Threei}  first, when the market becomes difficult, it feel the most difficult ever, wvery time

[09:11] {ese} you've seen a ton of ups and downs...

[09:11] {Threei}  and second, ones experience and skill changes, so there is no fair comparison

[09:11] {cosmo} ese....i think its worse for investors

[09:11] {Threei}  on the logic level I think I have to perceive this environemnt as the most dificult

[09:11] {ese} i would agree cos

[09:12] {Threei}  but by my performance, no way

[09:12] {ese} it's impressive...thats for sure vad.

[09:12] {cosmo} it is very difficult to watch TV

[09:13] {ese} gloom and doom all the time

[09:13] {cosmo} fear

[09:13] {magoo} ben talking on m2m here

[09:14] {cosmo} ben stein?

[09:17] {Threei}  FED'S BERNANKE: BELIEVES WE ARE TAKING THE "BEST AND MOST EFFECTIVE" MEASURES TO HELP THE ECONOMY - Q&A

[09:17] {Threei}  - Fed is beginning to strengthen systemically important firms, Fed will be seeking legislation to help it regulate financial firms

[09:17] {Threei}  - Monetary policy has to be supportive during a crisis.

[09:17] {Threei}  - The downturn has surprised the Fed with its severity.

[09:17] {Threei}  - Other central banks are "following our lead" in cutting rates

[09:17] {Threei}  IF ALL GOES RIGHT, THE RECESSION COULD END IN LATE 2009; STRONGLY ENDORSES THE "PRINCIPLE" OF MARK-TO-MARKET ACCOUNTING BUT BELIEVES CURRENT CONDITIONS MAY DISTORT MARKING TO MARKET - Q&A

[09:17] {Threei}  - Believes mark-to-market accounting numbers can be misleading, must identify the weak points of mark to market.

[09:18] {ese} what is mark to market accounting?

[09:19] {cosmo} the People need to re-fi ....not eat cake

[09:22] {nemo} ese, for illiquid assets, it's a way to assign valuation to them by valuing them according to the most recent transaction.  Unfortunately, if the worst house in the neighborhood is sold, and there are no other transactions, that's the price assigned.  So, it's potentially very inaccurate, but it affects the asset values on bank's books, or in those CDOs

[09:23] {ese} got it.......

[09:23] {dino} m2m does not work well on illiquid assets

[09:23] {nemo} Yeah, kinda' my point

[09:24] {dino} :)

[09:25] {vint} good morning all

[09:26] {nemo} So, Dino...turnaround Tuesday?

[09:27] {Threei}  vint :)

[09:28] {Threei}  idally, we would have a small pullback or consolidation, the decisaive break

[09:28] {Threei}  ideally

[09:28] {Threei}  BAC, WFC

[09:28] {Threei}  STT

[09:30] {Threei}  here is pullback

[09:30] {Threei}  let's see how things are holding

[09:31] {cosmo} DRYS tests high

[09:31] {cosmo} 4.45' ish

[09:32] {ese} avav getting killed...

[09:32] {ese} cmtl also

[09:33] {Threei} Long Setup:  WFC  11.30 if holding above .15

[09:34] {nemo} wild this morning

[09:34] {Threei}  bounce of 11 is an idea now

[09:34] {Threei}  .11 long

[09:34] {Threei}  stop under 11

[09:35] {Threei}  invalidated too

[09:35] {geo} wynn strong

[09:35] {nemo} too much overnight gap maybe to keep climbing

[09:36] {fernp} Hi everybody

[09:36] {Threei}  fern :)

[09:36] {dino} feeling same nemo

[09:37] {nemo} I learned it from you...your the gapmaster :)

[09:37] {ese} bstop AVAV 19.36 small

[09:37] {dino} lol

[09:37] {Threei}  .81

[09:37] {Threei}  stop under .70

[09:37] {Threei}  1:1

[09:38] {Threei}  1:2, out

[09:39] {ese} L avav

[09:39] {ese} like that fill L .31

[09:39] {ese} out avav

[09:40] {ese} .85

[09:40] {pita} WFC ty

[09:40] {ese} +.54

[09:40] {Threei}  pita :)

[09:40] {geo} wynn break .5?

[09:40] {Threei} Long Setup:  PALM  .61 if holding above .45

[09:41] {ese} i'm likin dinos way of life.....

[09:42] {dino} ouch cmtl

[09:42] {dino} 10:00-10:10 has been pullback time lately

[09:42] {ese} dn 14 smackers now....whoaa

[09:42] {Threei}  MOODY'S: ''EMERGING'' EUROPEAN SOVEREIGNS NEEDS TO BE DIFFERENTIATED

[09:42] {Threei}  - 'Emerging'' European countries should not all be treated as if their

[09:42] {Threei}  creditworthiness were subject to uniform pressure and that concerns about

[09:42] {Threei}  the solidity of the ''Eurozone'' are greatly exaggerated.

[09:43] {geo} in 17.5 out 17.87 WYNN

[09:43] {Threei}  wtg

[09:43] {dino} gj

[09:43] {Threei}  sorry, I couldn't get to it in time

[09:44] {geo} entered on break after pullback

[09:44] {geo} seems has more juice

[09:44] {dino} tbt swing out +1.20 at 47

[09:44] {geo} nice dino

[09:44] {Threei} Long Setup:  BAC  .45

[09:44] {Threei}  if holding above .35

[09:44] {dino} ty

[09:44] {geo} wow .45 thick

[09:45] {Threei}  lol, see any thin level on it?

[09:45] {dino} cmtl seems a bit excessive

[09:45] {nemo} in

[09:46] {dino} qid  short term support around 65.30

[09:47] {ese} i'll say dino..... reports .46 v .44   whats tht a about

[09:47] {Threei}  let's trail to it under .40

[09:47] {ese} revs 143 v 151 expected

[09:47] {Threei}  pullbacks can be severe on it, don't want to get caught

[09:47] {nemo} what, BAC?

[09:47] {dino} simple minds thinking alike

[09:47] {Threei}  yes

[09:48] {geo} yeah.... struggling a little

[09:49] {geo} SEC won't seek to suspend mark-to-market, according to source - Reuters

[09:49] {geo} Reuters reports that the SEC is not planning to suspend the controversial mark-to-market accounting rule that has forced banks to report billions of dollars in asset write-downs, a source familiar with the matter told Reuters on Tuesday. Rumors have circulated that the U.S. government was planning a temporary suspension of the accounting rule, which requires financial firms to value assets at current market prices. A Congressional panel i

[09:49] {Threei}  came out at 9

[09:49] {geo} really

[09:49] {geo} :( sorry

[09:50] {dino} saw it on real$ too in cc

[09:50] {Threei}  [09:00] {Threei} REPORTELDY SEC WILL NOT SUSPEND MARK-TO-MARKET ACCOUNTING - UNCONFIRMED SOURCE

[09:50] {dino} so far no effect. would seem to me if not suspended at some point these assets are going to bring somebody a fortune

06[09:50] * geo news service sucks

[09:51] {geo}  ndaq

[09:51] {geo} wow havent seen tol strong in a while

[09:56] {magoo} we in anything besides BAC vad?

[09:56] {Threei}  pres on TV btw

[09:56] {Threei}  no

[09:56] {Threei}  1 cent shy of 1:1?

[09:57] {Threei}  come on

[09:58] {magoo} STT pullbk vad

[09:59] {magoo} MS break of .30 vad?

[09:59] {Threei}  if stays above .15

[09:59] {dino} [09:46] {dino} qid  short term support around 65.30

[09:59] {dino} hit and bounced

[10:00] {dino} es. cmtl?

[10:00] {dino} you in it

[10:00] {Threei}  JAN WHOLESALE SALES: -0.7% V -1.0%E

[10:00] {Threei}  MARCH IBD/TIPP ECONOMIC OPTIMISM: 45.3 V 43.0E

[10:01] {Threei}  MS 1:1

[10:02] {Threei}  1:2

[10:02] {Threei}  F

[10:02] {Threei}  STATES THAT 100K HYBIRD SUV HAS BEEN BUILT, SEEKS TO DOUBLE HYBRID CONSTRUCTION IN 2009

[10:02] {dino} all is well in world again

[10:03] {geo} see? i should wring my hands more often

[10:03] {Threei}  lol

[10:03] {geo} GS break of 82 who dares?

[10:03] {dino} ty geo

[10:03] {geo} broke

[10:04] {dino} gold and platinum beat down

[10:04] {geo} yeah dino... i feel the gold :( 

[10:05] {geo} green scanners going crazy

[10:06] {dino} 10:10 approaches

[10:07] {Threei}  BAC 1:1, half out or scalp, your choice

[10:07] {dino} platinum tradiong lower than gold, abnormal

[10:07] {dino} blaming it on low auuto production

[10:07] {fernp} out here ty Vad

[10:08] {dino} auto

[10:08] {Threei}  fern :)

[10:08] {nemo} me2

[10:08] {geo} out GS .6

[10:09] {dino} out cedc swing +.70

[10:09] {Threei}  if you are holding half, stop to .33

[10:09] {Threei}  sorry to .44

[10:10] {dino} wmt says "fo" to downgrade

[10:12] {nemo} Dino, is that a capital FO!?

[10:12] {geo} i think he eant vietnamese broth

[10:12] {geo} meant

[10:13] {nemo} funnny

[10:13] {geo} probably get 1/3 their stuff from there anyway

[10:13] {nemo} on a roll geo

[10:13] {geo} in PBR and bored

[10:14] {dino} yes nemo

[10:16] {dino} clickig in to 4.6% gains on s/p ndx. hmmmmmmmm

[10:16] {dino} discipline says hedge it

[10:17] {Threei}  SPOT AND APRIL GOLD DIP BELOW $900 FOR FIRST TIME IN NEARLY A MONTH

[10:17] {Threei}  GE non-stop

[10:18] {dino} dip on god cause cramer last week said buy it

[10:18] {Threei}  ah

[10:18] {Threei}  that'll do it

[10:18] {dino} swear theres a group countering his calls

[10:18] {Threei}  how can you not

[10:18] {Threei}  guy is a godsend

[10:18] {Threei}  such consistency

[10:19] {geo} http://masteroftheuniverse.wordpress.com/2008/11/14/cramer/

[10:19] {geo} "Ive seen mechanical systems that fade his picks and make a good return."

[10:20] {dino} roflol

[10:21] {geo} and this guy is  matisse/picasso/rembrandt owning level trader...... lol

[10:22] {geo} i feel like a kid in a candy store today..... so many stocks.... dont know which to play :)

[10:22] {Threei}  IMF'S STRAUSS KAHN: NATIONALIZATION IS A 'GOOD IDEA' FOR CERTAIN US BANKS

[10:23] {Threei}  imbecil

[10:23] {Threei}  BAC baby

[10:23] {Threei}  over 1:2

[10:23] {dino} i say pull their funding

[10:23] {Threei}  IMF?

[10:24] {Threei}  don't forget UN while you are at it

[10:24] {Threei}  GE is about to stage nice pullback

[10:24] {Threei}  sharp drop into 8.20, I would be interested

[10:26] {geo} CNI .5 vad?

[10:27] {Threei}  why not

[10:27] {Threei}  chart is right

[10:27] {geo} in

[10:27] {fernp} CAT pullback Vad?

[10:28] {Threei}  I'd prefer CAT lower...

[10:28] {fernp} ty

[10:29] {Threei}  let it slide

[10:29] {Threei}  not ready yet

[10:29] {Threei}  not shovel-ready

[10:30] {dino} qld not avail cyber fwiw

[10:30] {geo} MMM jbe

[10:31] {Threei}  CART selling accelerates

[10:31] {Threei}  CAT

[10:31] {fernp} I see

[10:31] {fernp} 25.50 next support?

[10:32] {dino} have to use qid, things' like pulp tho

[10:32] {Threei}  a bit too far... I doubt it will get there

[10:32] {geo} QID not available in laser too

[10:32] {Threei}  .80 held as a support so far

[10:32] {dino} long qid=2x short

[10:33] {cujo} morning, wow...  250 pts. 

[10:33] {Threei}  lost it

[10:33] {Threei}  cujo :)

[10:33] {dino} esi swing stop to 8.40

[10:33] {geo} we always have faz and skf dino :)

[10:34] {Threei}  US INTELLIGENCE REPORT: IRAN HAS NOT YET MADE DECISIONS ON CONSTRUCTION OF HIGHLY ENRICHED URANIUM

[10:34] {geo} have me made decisions to bomb em yet?

[10:34] {geo} we

[10:34] {dino} indeed geo and paris too

[10:34] {geo} :)

[10:34] {nemo} Do the whole middle east, Halliburton, and FWLT stock will go through the roof

[10:35] {Threei}  can try pullback to .80 for double bottom with .70 stop on CAT

[10:36] {nemo} GE got that sinking look

[10:36] {Threei}  yes

[10:36] {Threei}  waiting for it to drop

[10:36] {Threei}  ity's shortable btw

[10:36] {geo} hehe in from .5 TY nemo/vad

[10:37] {Threei}  lol geo

[10:37] {Threei}  stop above .60?

[10:37] {geo} y

[10:37] {Threei}  anyone got CAT?

[10:37] {Threei}  pulled back right into .80

[10:37] {fernp} in .83

[10:38] {Threei}  good reflexes

[10:38] {dino} out esi swing 109.40, +5.00

[10:38] {Threei}  eeck

[10:38] {Threei}  that's indecent dino

06[10:38] * geo thinks dino funded paris

[10:38] {dino} lucky, that was a volitile swing for 3 days

[10:39] {dino} need coffee

[10:39] {cujo} in cat .84

[10:40] {geo} GE not following PSY much

[10:40] {geo} SPY

[10:40] {Threei}  1:1 CAT

[10:40] {geo} heh

[10:40] {Threei}  1:2

[10:40] {fernp} now out 26.06

[10:40] {fernp} ty Vad

[10:40] {Threei}  good job

[10:42] {cujo} out 1/2 CAT .15

[10:43] {Threei}  pattern-based bottom fishing is very different from arbitrary knife catching eh?

[10:43] {fernp} true

[10:43] {cujo} yeah, much less sweating involved...

[10:43] {Threei}  and less pain, lol

[10:44] {Threei}  OK... so far so good

[10:44] {Threei}  no single stop

[10:44] {geo} there.... jinx

[10:44] {Threei}  and just one superstitios room member

[10:45] {geo} not true !!

[10:45] {nemo} who is it that talks about the trading gods?

06[10:45] * geo rubs rabit foot furiously

[10:45] {Threei}  lol

[10:45] {Threei}  good one

[10:45] {dino} v sm qid l .30

[10:45] {dino} wide/small

06[10:46] * nemo prepares the chicken for sacrifice

[10:46] {Threei}  anyone still has any part of BAC?

06[10:46] * geo prepares rabbit and chicken stew

[10:47] {dino} ouch genz

[10:47] {dino} air pocket

[10:47] {geo} wow news?

[10:47] {Threei}  REPORTEDLY FDA INVESTIGATORS FIND OBJECTIONABLE CONDITIONS AT PLANT

[10:47] {Threei}  yes

[10:47] {dino} genz vad?

[10:47] {Threei}  yes

[10:47] {Threei}  REPORTEDLY FDA INVESTIGATORS FIND OBJECTIONABLE CONDITIONS AT PLANT

[10:48] {dino} watch sds if s/p starts to drop imo

[10:48] {dino} ty

[10:48] {dino} cyber not showing yet

[10:48] {cujo} out last CAT .24

06[10:48] * Threei slaps cujo around a bit with a large roll of cash

[10:48] {cujo} :)

[10:49] {cujo} Thanks Vad

[10:49] {Threei}  welcome

[10:49] {dino} gj

[10:49] {fernp} gj

[10:49] {cujo} thanks all.  Glad i woke up today. 

[10:49] {Threei}  lol

[10:52] {dino} group hug for cujo, lol

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

[10:53] {nemo} stopped ge

[10:53] {cujo} i'm getting emotional...

06[10:54] * dino slaps cujo around a bit with a large trout

[10:54] {geo} reversed at .58

[10:55] {geo} made higer lows

06[10:55] * cujo has a strange craving for fish...

06[10:55] * geo slaps cujo around a bit with a large trout

[10:55] {geo} this one?

[10:57] {Threei}  WFC

[10:57] {Threei}  wsatching for dive into .90 for long entry

[10:57] {cujo} GS ss .68

[10:58] {cujo} out .51

[10:58] {dino} hitting 5% up

[11:04] {Threei}  DAL

[11:04] {Threei}  EXPECTING PROFIT IN Q2 V $0.67E, AFTER EXPECTED LOSS IN Q1 V -$0.98E - PRESENTATION

[11:04] {dino} sds gap fill from wed close

[11:05] {dino} genz continues down

[11:06] {Threei}  PALM 1:1

[11:13] {Threei}  GENZ

[11:13] {Threei}  HEARING DEFENDED AT DEUTSCHE BANK

[11:14] {Threei}  i2r!

[11:14] {Threei}  long time no see

[11:15] {i2romantis} i know :)

[11:15] {i2romantis} nice to be back

[11:15] {Threei}  you got frozen over there or what, lol

[11:15] {i2romantis} but not available much lately

[11:15] {i2romantis} something like that :)

[11:15] {i2romantis} I see reasonable rebounds

[11:15] {Threei}  look dcc please

[11:15] {i2romantis} and crazy drops over the past month

[11:22] {dino} welcome back rfr

[11:23] {Threei}  INSM

[11:23] {Threei}  FDA TO ALLOW PATIENTS WITH AMYOTROPHIC LATERAL SCLEROSIS (ALS) TO HAVE ACCESS TO IPLEX

[11:23] {Threei}  - Iplex is approved by the FDA only for the treatment of growth failure in children with severe primary IGF-1 deficiency (Primary IGFD) or with growth hormone (GH) gene deletion who have developed neutralizing antibodies to GH. The drug is currently not marketed because of a court order related to patent infringement

[11:23] {nemo} Interesting, market didn't pull back...consolidating, or....

[11:24] {dino} imo, give it time

[11:25] {nemo} I'm voyeuring as we speak...it's just breaking it's recent pattern

[11:27] {pita} ok, back from plowing/shoveling for last hour - anything on watch list?

[11:27] {geo} me loving ADM

[11:28] {Threei}  not really pita, market narrowed down very much

[11:28] {geo}  slb

[11:28] {pita} k

[11:28] {nemo} geo! were you going to tell anybody...

[11:28] {geo} oops sorry

[11:28] {geo} oh break of 28 nemo.... (dont have confidence for calls)

[11:29] {nemo} hehehehehehehe

[11:29] {dino} hod

[11:30] {geo} reminds me of your comment yesterday vad

[11:30] {Threei}  which one?

[11:31] {dino} lphi sm l .60

[11:31] {nemo} yeah, kinda' general there geo

[11:31] {dino} thinny

[11:31] {geo} [15:04] {Threei}  if you are not watching it, you WILL miss the moment when market changes

[11:31] {geo} was looking

[11:31] {Threei}  ahhh

[11:31] {dino} careful guys one day does not a bull make

[11:31] {dino} trend is still down

[11:31] {geo} not saying market changed

[11:31] {geo} but would have missed this day

[11:32] {dino} we are still under thursday levels

[11:32] {nemo} there are bull moments and bear moments in every day, I just usually get them backwards

[11:32] {geo} ADM again

[11:32] {dino} hate to see these open gaps way below

[11:33] {nemo} yeah...very scary...I hate heights

[11:34] {nemo} So, way oversold on financials, a rumor about M2M and Vikrim Pandit's word that all goes swimmingly at Citi...not a strong case for a bull run

[11:34] {Threei}  what m2m?

[11:35] {magoo} in anything here vad?

[11:35] {Threei}  wasn't it denied today?

[11:35] {geo} ah come on vad

[11:35] {geo} dont kill it

[11:35] {Threei}  no mags

[11:35] {nemo} Yes...but we want to believe

[11:35] {nemo} not really...quoting the guy from Braveheart

[11:35] {magoo} news leak saying m2m ditching wont happen

[11:35] {dino} bernie wants to "tweak" it he said

[11:38] {dino} forgot one, sm l cmtl .01

[11:43] {nemo} I guess this is your pullback

[11:44] {dino} stop is .63 fwiw

[11:46] {dino} stopped

[11:47] {dino} i'll lay out buck lower

[11:48] {Threei}  main question for the day now is,

[11:48] {Threei}  will this consolidation resolve in another upward thrust or we fizzle out

[11:49] {magoo} taking bets??

[11:49] {magoo} i say UP

[11:49] {magoo} best day for mkts in 3 months

[11:50] {Threei}  my feel is up too

[11:50] {magoo} if fizzles...i gonna slice cujos wrists with a banana

[11:50] {dino} as snoop dog would say, snizzle fizzle

[11:50] {Threei}  PLD interesting

[11:51] {Threei}  big blocks are being bought on INSM

[11:51] {Threei}  not exactly my kind of stock

[11:51] {Threei}  but if chews through 1.05, maybe has a chance

[11:51] {dino} ice goes negative

[11:52] {nemo} PLD?

[11:52] {nemo} I've got it a 6.94

[11:52] {Threei}  yes?

[11:53] {Threei}  you lost me nemo

[11:53] {nemo}  but if chews through 1.05, maybe has a chance

[11:54] {Threei}  [11:51] {Threei} big blocks are being bought on INSM

[11:54] {Threei}  [11:51] {Threei} not exactly my kind of stock

[11:54] {Threei}  [11:51] {Threei} but if chews through 1.05, maybe has a chance

[11:54] {nemo} yes, so I expected a $1 stock, I saw almost a $7 stock, wanted to make sure I hadn't fubar'd it.

[11:55] {Threei}  ummm

[11:55] {Threei}  INSM is $1 stock

[11:55] {Threei}  PLD is $7 srtock

[11:55] {nemo} Yes, now I see how I made the mistake

[11:55] {Threei}  I don't know what causes confusion here

[11:55] {dptl} so you getting insm on .05 break?

[11:56] {Threei}  with stop under 1... I guess worth a try

[11:56] {dptl} 4 lots :)

[11:56] {Threei}  US REP FRANK: MARK-TO-MARKET RULES MUST BE IMPROVED

[11:56] {Threei}  buzz is back

[11:57] {dino} somebody finally whispered to barney about m2m

[11:57] {Threei}  UAUA

[11:57] {Threei}  US APPEALS COURT REPORTEDLY UPHOLDS LOWER COURT RULING BARRING PILOTS UNION FROM ACTIONS THAT WILL INTERFERE WITH COMPANY OPERATIONS

[11:59] {Threei}  US REP FRANK: MARK-TO-MARKET RULES MUST BE IMPROVED AND MADE MORE FLEXIBLE; SEES UPTICK RULE RESTORATION IN A MONTH'S TIME

[11:59] {Threei}  - Reminder on 3/5 Frank noted that Congress should not legislate accounting rules, but that the hearing on March 12 should examine making mark-to-market accounting rules more flexible

[11:59] {dino} sm last try cmtl l .50

[12:00] {Threei}  PLD aggressive buying

[12:01] {Threei}  tough battle here, hard to read

[12:01] {nemo} spike in fas hit right on your Barney comment then died

[12:04] {nemo} What's hard to read about PLD, Vad?

[12:05] {Threei}  that exchange of jabs around 7, could resolve either way

[12:05] {nemo} ty

[12:06] {dino} i have trouble reading chineese

[12:06] {dino} and spelling it too

[12:06] {magoo} WFC vad 12 comith

[12:07] {Threei}  sharp spike

[12:07] {Threei}  need pullback to .60 or so for entry

[12:07] {magoo} right..wanted u look at it

[12:08] {magoo} man..it was a dog until i minute ago

[12:09] {dino} barney and m2m magoo, banks big on m2m change

[12:09] {magoo} yup

[12:10] {geo} man cramer has become a butt of jokes on jon stewart

[12:11] {Threei}  finger on the trigger

[12:12] {magoo} hold off

[12:12] {dptl} where wfc?

[12:12] {Threei}  .61 if holding above .50

[12:13] {magoo} in .59

[12:14] {cujo} in .62

[12:15] {geo} http://www.thedailyshow.com/video/index.jhtml?videoId=220288&title=In-Cramer-We-Trust

[12:15] {geo} in .61

[12:15] {fernp} WFC?

[12:15] {geo} y

[12:15] {dino} cmtl stopped b/e toughie

[12:16] {Threei}  half out

[12:16] {geo} hal f out .71

[12:16] {Threei}  stop to .57

[12:22] {geo} out

[12:24] {magoo} u out..?i am

[12:25] {nemo} Interesting...that looked like a pretty good sort set up those last few minutes of WFC, but stocks are fighting back toay

[12:25] {nemo} today

[12:25] {nemo} short

[12:29] {Threei}  start feeling like after some hesitation we will get another leg up

[12:29] {Threei}  fading bounces has become too common

[12:29] {Threei}  one of them should break the habit

[12:29] {Threei}  and today seems to be it

[12:30] {geo} anyone held WFC?

[12:35] {Threei}  US SEC COULD CONSIDER REINTATING UPTICK RULE AS EARLY AS NEXT MONTH - UNCONFIRMED REPORT

[12:35] {Threei}  - echoes comments from Rep. Barney Frank earlier

[12:35] {Threei}  sheesh... who cares?

[12:36] {Threei}  banning shorting on financials altogether hasn't changed anything

[12:36] {Threei}  what do they think uptick rule will change?

[12:40] {dino} mcd not participating, 

[12:41] {pita} gotta go skiing, later all....

[12:41] {dino} have fun

[12:42] {Threei}  take care pita

[12:42] {magoo} bye pita

[12:42] {pita} much fun - 9"; if you gotta shovel, might as well slide some too.  TC

[12:46] {Threei} JBE Setup:  BAC  .81 trigger .70 support

[12:53] {Threei}  CAT

[12:53] {Threei}  MINING EQUIPMENT HEAD: SEEING POSSIBILITY FOR ACQUISITIONS IN CURRENT ENVIRONMENT

[12:53] {Threei}  {JOYG BUCY}

[13:00] {Threei}  question is still there

[13:00] {Threei}  market takes a breather or done for the day

[13:00] {Threei}  ECB'S ORPHANIDES: RECENT DATA INDICATE A WORSENING OUTLOOK; DOES NOT BELIEVE EUROZONE WILL RECOVER IN 2010

[13:01] {nemo} after the big gap up and the cloudiness over m2m moves, and the Pandit obfuscation, no hope to go on.

[13:01] {magoo} UP

[13:01] {nemo} rangebound for the day

[13:02] {magoo} last hour gonna be nutsarolla

[13:02] {Threei}  great... all you left is down

[13:02] {magoo} huh?

[13:02] {Threei}  one bet on up

[13:02] {nemo} Doesn't mean you have to take it...then again might be a lot of profit to take

[13:02] {Threei}  another on sideways

[13:03] {Threei}  what's a poor peasant to do

[13:03] {nemo} ah....make money?

[13:03] {dino} dji +150; ndx +38, s/p +20

[13:04] {nemo} so you're saying down from here Dino...just bark once

[13:04] {dino} woof

[13:04] {nemo} Well Vad, looks like you're left out

[13:04] {Threei}  (JP) JAPAN IS CONSIDERING A FUND THAT WOULD PROVIDE COMPANIES WITH LOW-INTEREST LOANS

[13:04] {Threei}  they decided to override banks and lend directly?

[13:15] {dino} ice sm l .08

[13:17] {Threei}  feels like breakout is brewing

[13:17] {Threei}  ACOR

[13:17] {Threei}  HEARING RENEWED TAKEOVER CHATTER CIRCULTING

[13:19] {Threei}  if market spikes, PLD is long .90 break

[13:19] {Threei}  WFC .50 break

[13:22] {dptl} pld stop?

[13:22] {Threei}  under .80

[13:22] {dptl} ty

[13:24] {dptl} in .90

[13:26] {Threei}  US SENATOR DODD: SUPPORTS REINSTATEMENT OF UPTICK RULE BY SEC

[13:26] {Threei}  sigh

[13:26] {Threei}  who votes these cluelkess guys in?

[13:27] {dino} ice stop is lod

[13:28] {dino} they will support anything against the "evil shorts"

[13:33] {Threei}  market finally broke

[13:34] {dptl} come on pld

[13:35] {nemo} boot Vad

[13:39] {nemo} out pld

[13:39] {dptl} stopped

[13:42] {dino} getting rinsed

[13:47] {dino} unusual

[13:47] {dino} hitting my b-day on the plus side

[13:48] {Threei}  SEC SPOKESPERSON REPORTEDLY DECLINES COMMENT ON UPTICK RULE

[13:48] {Threei}  if I ever saw a red herring...

[13:49] {fernp} BAC still valid over .80, Vad?

[13:49] {Threei}  can't tell really

[13:50] {Threei}  we are not getting trending move

[13:50] {fernp} ok

[13:54] {Threei}  RIMM holding nicely during pullback

[13:55] {Threei}  .70 break long if market bounces

[13:56] {nemo} stop .50

[13:56] {Threei}  under .60

[13:57] {fernp} good read in BAC. thank you

[13:57] {Threei}  :)

[13:58] {Threei}  lol

[13:58] {Threei}  CHINESE HACKERS CRACK DIGITAL VOUCHER CODE, SELLING AAPL ITUNES GIFT CERTIFICATES - APPLE INSIDER

[13:58] {geo} ooooh

[13:58] {geo} now chinese can learn english song

[13:59] {geo} finally !

[14:00] {magoo} dont like mkt pullbk here

[14:00] {magoo} reminds me of every day this month

[14:00] {Threei}  lame performance so far

[14:00] {Threei}  no drive

[14:00] {geo} rimm still on vad?

[14:00] {nemo} well, market made big gains today, why would it keep running the way things have been going?

[14:01] {Threei}  yes geo

[14:01] {dptl} ? i am in rimm.70

[14:02] {Threei}  nemo... exactly because no one expects it?

[14:02] {nemo} good a reason as any

[14:02] {dptl} stopped

[14:02] {geo} i didnt press trigger as spy seemed sluggish

[14:03] {nemo} spy and NDX

[14:03] {geo} also like the gains of first half so extra paranoid

[14:03] {nemo} and everything else for that matter

[14:18] {Threei}  pitiful market performance so far

[14:30] {cujo} Vad, you see the new daily show clip?

[14:31] {cujo} http://www.thedailyshow.com/video/index.jhtml?videoId=220288&title=in-cramer-we-trust

[14:31] {dino} comedy central, just saw it

[14:31] {Threei}  yeah

[14:31] {cujo} even better than the first one

[14:33] {Threei}  HRLY

[14:33] {Threei}  COMPANY PLACED ITSELF FOR SALE - UNCONFIRMED REPORT

[14:35] {Threei}  11 buyer with market order thinks "what the hell happened"

[14:39] {Threei}  so... mags

[14:40] {Threei}  want to buy Harley and become a king of bikers?

[14:40] {Threei}  we will get Chaeron to invest with us

[14:40] {dino} hog = harley

[14:41] {dino} hrly aerospace company

[14:41] {Threei}  shhh dino :(

[14:41] {Threei}  I was trying to entice him by yhe idea

[14:41] {dino} hahahahahahaha

[14:41] {geo} nice save vad

[14:43] {magoo} used to owbn 1

[14:44] {Threei}  I know

[14:44] {Threei}  that's why I thought of you

[14:44] {Threei}  but dino had to get in the way with facts

[14:45] {dino} sometimes i think you guys do not appreciate me

[14:45] {dino} (and then i grab a brew)

[14:46] {Threei}  lol

[14:47] {Threei}  RIMM lives its own life today

[14:47] {dino} vadster, what do you make of ice, mcd action?

[14:47] {Threei}  (US) US TREASURY NOTES 22 BANKS RECEIVED $284.7M IN TARP CAPITAL LAST WEEK

[14:47] {dino} uthr selloff

[14:47] {Threei}  ICE puzzles me

[14:48] {Threei}  thing is on a downtrend during market uprend, and that's in advance of a huge chunk of business coming its qway

[14:48] {dino} getting a huge chunk of business. thinking mcd is the "card" act obamination pushing

[14:49] {nemo} the CDS exchange?

[14:49] {dino} yes 

[14:49] {dino} trillions

[14:49] {Threei}  card act?

[14:49] {Threei}  I am not aware

[14:49] {Threei}  argh

[14:49] {dino} ununionization act, no vote, just sign card for all workers.

[14:49] {nemo} how many shares outstanding...could be sold down to get big players in cheap

[14:49] {Threei}  you know where this seloff is coming from?

[14:50] {dino} thinking it gets voted down, but demi's pushing hard for it

[14:50] {Threei}  of course big mouth on a little guy...

[14:50] {Threei}  (US) US TREASURY SEC GEITHNER: IT WILL TAKE A WHILE TO WORK THROUGH THE CRISIS, BUT IT IS OUR OBLICATION TO FIX IT - TV INTERVIEW

[14:50] {nemo} Obama speaking again

[14:50] {nemo} close enough

[14:50] {dino} lol, i'm watching the mets

[14:50] {nemo} no Pedro Martinez this year...best signing we didn't make

[14:51] {Threei}  (US) SENATOR SHELBY (R): ANY MARK-TO-MARKET CHANGES SHOULD BE MADE BY THE SEC, NOT CONGRESS

[14:51] {Threei}  yup, let's kick the can down the road

[14:51] {dino} sec does not have authority, it's an account, fasb, issue is what i'm reading

[14:52] {Threei}  I would think that card issue should have hit WMT hard dino

[14:52] {dino} was downgraded on open off it

[14:53] {dino} mcd may just be one of those days

[14:53] {Threei}  and we wonder why market hates new administration

[14:53] {Threei}  most business-unfriendly in I don't know how long

[14:54] {dino} since jimmy

[14:55] {nemo} Yeah, but he did one good thing...took Volcker's advice on how to kill inflation, and Volcker told him it would lose him the election.

[14:56] {dino} roflol, that helped, but lost the election because of iran, straw that broke the camels' back, imo

[14:57] {nemo} one thing on top of another, yeah...he didn't have the best run

[14:57] {dino} the 70s were rough

[14:58] {dino} bud halted?

[14:59] {Threei}  didn't it get bought out by INB?

[15:00] {dino} thats right

[15:01] {Threei}  FAS new high

[15:07] {dino} ok top is near cramer going bullish

[15:07] {Threei}  uh oh

[15:07] {cujo} sell sell sell....

[15:10] {Threei}  still can't get a feeling for the close

[15:11] {magoo} UP

[15:11] {nemo} expanding range downward on NDX and SPY

[15:13] {dino} down

[15:14] {nemo} dino, you're a broken record....woof!

[15:14] {dino} lol

[15:14] {nemo} FAS looks like it wants to take a little off the top

[15:14] {dino} i just have to go against magoo\

[15:14] {Threei}  stewart/cramer thing on CNN

[15:15] {nemo} He'll never bring beer if you keep that up

[15:16] {dino} its simply an "edge" 

[15:20] {magoo} wheres obama??ruin this

[15:20] {Threei}  he send minions out this time mags

[15:20] {Threei}  terrific tim

[15:20] {magoo} hes timing it for 3:40

[15:26] {magoo} read MS vad?

[15:26] {Threei}  if you call up is right, so will MS

[15:26] {Threei}  it's one of the strongests

[15:27] {Threei}  FAS new high

[15:27] {Threei}  RIMM too

[15:27] {magoo} k..took .50 ong ms

[15:28] {nemo} volume only average on the NAS and up but not great on S&P

[15:28] {Threei}  yout stop would be under .35

[15:30] {geo} un mck

[15:30] {geo} in

[15:30] {geo} break of .8

[15:30] {Threei}  CHIC

[15:30] {Threei}  CO. PUTS ITSELF UP FOR SALE - NYT

[15:30] {Threei}  lol

[15:31] {Threei}  I would suggest magoo to buy it but dino will say it's not chicken/eggs producer

[15:31] {cosmo} possible gapper?

[15:32] {dino} grrrrrrrrrrrrrr

[15:32] {dino} having trouble w/6+% moves in day

[15:33] {nemo} mae most of it by noon...only 1% since

[15:33] {nemo} made

[15:34] {dino} just wondering if it simply the bull in a bear spike

[15:34] {dino} time will tell

[15:36] {Threei}  certainly wouldn't make a cse for a bull market starting just yet

[15:37] {Threei}  US TREAURY SEC GEITHNER: FAILURE OF AN AUTOMAKER COULD CAUSE WIDESPREAD DAMAGE; REVIEWING AUTO RESTRUCTURING 'CAREFULLY'

[15:37] {cosmo} see how QQQQ tests 28 .... maybe tomorrow

[15:37] {magoo} so u against doug kass? :)

[15:37] {Threei}  he says we are in a bull market?

[15:38] {dino} says bottom in last week

[15:39] {Threei}  ummm

[15:39] {Threei}  THE bottom?

[15:39] {dino} harrison, 20% move in march, not sure which way

[15:39] {Threei}  or a bottom?

[15:39] {dino} "the"

[15:39] {Threei}  OK... I can't possibly be against him

[15:39] {cosmo} mother of all bottoms

[15:39] {Threei}  because we are on different planets

[15:39] {dino} but predictions are like azzes, everybody has one

[15:40] {nemo} and they all stink

[15:40] {Threei}  I am not about to start interplanetary war

[15:40] {dino} lol

[15:40] {geo} confucus says:

[15:40] {nemo} don't geo

[15:40] {geo} those who pick botttoms get stinky fingers !!!

[15:40] {Threei}  FAS looks like a gapper to me

[15:41] {dino} ohhhh mannnn, swiper says

[15:41] {geo} :)

[15:41] {geo} tough crowd

[15:46] {dptl} have a good evening all

[15:46] {Threei}  take care dp

[15:47] {geo} MCK and WHR

[15:47] {geo} sitting

[15:48] {Threei}  FAZ, what a murderous move

[15:48] {magoo} u mean 35 points?

[15:48] {Threei}  over two days

[15:52] {Threei}  WHITE HOUSE SPOKESMAN: HOPES TO HAVE NEW FINANCIAL REGULATORY STRUCTURE IN PLACE THIS YEAR

[15:52] {Threei}  - note: some senators, including Senator Schumer have stated they hope to have the blueprint for an overhaul of financial regulation prepared by early April.

[15:52] {Threei}  this year??

[15:52] {cosmo} april 1

[15:53] {cosmo} in the face of all superstition

[15:54] {Threei}  market finishes at the high

[15:55] {Threei}  DOW JONES INDEXES: IF US GOVERNMENT TOOK MAJORITY STAKE IN CITI, WOULD TRIGGER REMOVAL FROM DJIA

[15:56] {dino} sooooooo

[15:56] {cosmo} k

[15:56] {Threei}  WFC spike

[15:58] {dino} out lphi .31, +.71 all day jober

[15:59] {Threei}  +350

[16:00] {Threei}  okay guys

[16:00] {nemo} 7% on the Nas

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good evening, see you tomorrow

[16:00] {cosmo} bottoms up

[16:01] {vint} Thanks Vad, bye all.

[16:01] {dino} thx all, had fun

[16:01] {fernp} have a goog evening