Feb 25 2009

Beautiful day on both sides, short and long. Shorted CAT twice, played long on RIMM multiple times, plus BAC, STT, GS and whatnot. Profitable trades become bigger lately, well beyond just scalps, while we manage to keep stops to a scalping size.

Session Time: Wed Feb 25 00:00:00 2009

[07:59] {magoo} mornink comrades

[07:59] {Threei}  good morning

[08:01] {Threei}  BAC is knocking on yesterday's high 4.75

[08:01] {magoo} u in? morning btw

[08:02] {Threei}  hi

[08:02] {Threei}  no

[08:02] {magoo} man fslr after hrs hit 147..look here

[08:02] {Threei}  guided flat to lower

[08:02] {nemo} did I miss anything?

[08:02] {magoo} imagine buying 146 

[08:02] {Threei}  not really

[08:03] {magoo} just this nemo..............

[08:03] {Threei}  that would be painful

06[08:03] * magoo slaps nemo around a bit with a large trout

[08:03] {nemo} Ahh...fresh fish for breakfast.  Nothing like cannabilism in the morning!

[08:03] {magoo} jesus...obama referrenced the private jet last nite vad

[08:04] {Threei}  sigh

[08:07] {Threei}  BALTIC DRY BULK INDEX -2.5%, A THIRD STRAIGHT DECLINE

[08:08] {Threei}  what can I say... that was a great speech

[08:12] {nemo} True words are not fine sounding.  Fine sounding words are not true

[08:20] {Threei}  nice BAC

[08:20] {Threei}  fess up magoo

[08:20] {Threei}  I am sure you couldn't resist and grabbed the break

[08:22] {magoo} nope..watching fslr

[08:27] {larisa} good morning

[08:27] {nemo} gm larisa :)

[08:27] {magoo} larisa:)

[08:28] {larisa} nemo, magoo :) what did you do with vad ?

[08:29] {Threei}  larisa :)

[08:29] {larisa} gm:)

[08:31] {Threei}  why do you think he did anything?

[08:34] {Threei}  interesting

[08:34] {Threei}  BAC continues exhibiting strength, FAS is reddish

[08:35] {nemo} what do you mean by "reddish"?

[08:35] {magoo} real money saying speech didnt address banking issues ./..

[08:35] {nemo} duh...he doesn't understand them, how can he address them?

[08:35] {Threei}  ummm... reddish is red but nit by much :)

[08:36] {Threei}  well... to his defense, since when is state of the union speech addresses such specifics

[08:36] {nemo} just want to make sure we're not talking about your favorite wine. "with just a hint of 'ally"

[08:37] {magoo} can u imagine if mccain had won...but thgen we had exact same situation as obama...how bad the media would be all over mccainb

[08:37] {nemo} Then again, after the spike yesterday a little snap-back for both FAS and FAZ could reasonably be expected

[08:37] {magoo} well vad...thats what mkt players were looking for

[08:38] {Threei}  we are supposed to get the details on March 4

[08:38] {nemo} and then we'll march forth....

[08:38] {Threei}  if they expected to hear them in yesterday's speech, that was dumb

[08:39] {Threei}  then again...

[08:39] {magoo} cramer saying u have to start selling today{although he has been a contra of late}

[08:40] {Threei}  start?

[08:40] {Threei}  lol

[08:40] {Threei}  I'd say you had to start selling a year and half ago

[08:41] {Threei}  tioday you'd be finishing

[08:41] {magoo} good one vad

[08:41] {Threei}  but, I don't expect today to be as giddy as yesterday

[08:41] {Threei}  at least not right now

[08:41] {_paliyad2009} finaly found where to type good morning:)

[08:41] {Threei}  good morning paliyad

[08:42] {Threei}  there is just one place for that, lol

[08:42] {Threei}  remember I said yesterday,

[08:42] {magoo} paliy:)

[08:42] {Threei}  as fine as yesterday's rally was,

[08:42] {Threei}  we are not of the woods yet by any stretch of imagination,

[08:43] {Threei}  that was just a taste of things to come, but not a start of consistent bull market yet

[08:43] {Threei}  it's start and stop regime for now

[08:44] {Threei}  so, for now the plan is:

[08:44] {Threei}  withdraw yesterday's "buy anything"

[08:44] {Threei}  and back to "be picky and careful"

[08:47] {Threei}  When asked what he thought the word meant, Bernanke said with a smile, Public-private partnership, I suppose.

[08:47] {Threei}  if that's not a embodiment of hypocrisy

[08:49] {magoo} listened to some ted nugent on ride to work..."mkts got u in a stranglehold baby...so u better get outof its wayyyy"

[08:52] {Threei}  I don't know why but some of major clearing houses yesterday rendered 16 leveraged ETFs "cash only, no margin"

[08:52] {Threei}  including FAS

[08:52] {Threei}  FAZ'

[08:52] {Threei}  and 14 others that we never traded

[08:53] {Threei}  if you want I can post full list

[08:55] {buyemsellem} good morning

[08:55] {nemo} Oh geez...quoting Ted Nugent...the Apocalypse is upon us...wife is pretty hot though

[08:55] {cosmo} First Solar (FSLR.O) shares slid after the closing bell on Tuesday after the designer and manufacturer of solar modules said the short-term outlook for the solar industry has never looked more difficult.   fyi

[08:55] {Threei}  buyem :)

[08:56] {buyemsellem} that's interesting about the "no margin" on those ETF's

[08:56] {buyemsellem} you have any idea why that could be?

[08:56] {nemo} yes...maybe there's pressure about there effect on the market?

[08:57] {Threei}  not really buyem, could be anything,

[08:57] {buyemsellem} I've heard complaints that things like inverse financial ETF's have been part of financials downfall

[08:57] {Threei}  one of guesses:

[08:58] {nemo} That's BS arguably, because if the banking system were in good shape FAS would be through the roof

[08:58] {Threei}  that particular clearing house had to send too many margin calls to traders playing leveraged ETFs

[08:58] {Threei}  and decided to limit their own risk

[08:59] {buyemsellem} OK

[08:59] {buyemsellem} yeah, sounded like a lame excuse to me. Like, yeah, banking sector is actually healthy it's the ETF's fault ha

[08:59] {cosmo} PNTR:  # Pointer Telocation Presents 2008 Results - Revenue of $76.6 Million Exceeds Company GuidancePR Newswire(Wed 4:57am)

[09:00] {Threei}  blame a thermometer for the fever

[09:00] {nemo} shooting the messenger

[09:01] {nemo} "Pull"..."Dropped like a stone."..."I love my peasants."

[09:01] {magoo} we are still oversold...but what  would really kill mkt enthusiam would be a big sell down today

[09:02] {Threei}  did Cramer bash SLW yesterday?

[09:02] {nemo} Yesterday seemed like a technical response to the last week

[09:02] {Threei}  pretty much

[09:03] {Threei}  widespread explanation is, markets reacted on Ben's optimistic forecats

[09:03] {Threei}  which IMO is bs

[09:03] {cosmo} solars seemed to anticipate that speech tho...

[09:03] {nemo} It would make sense to be flat or down today, although one would expect gold and mining stocks to move higher

[09:03] {Onix} gm all

[09:03] {Threei}  amount of IFs he insterted in his forecasts effective made his sppech a "things will be good if things go well"

[09:03] {Threei}  onix :)

[09:04] {Threei}  which in my book is far from a: deep wisdom and b) something inspirational for the market

[09:05] {cosmo} there will be growth ... in the Spring

[09:05] {Threei}  here, spring is here

[09:05] {cosmo} yep

[09:06] {Threei}  closer to opening I'l repost the working asssumption for the day for late arrivales

[09:11] {Threei}  meanwhile SLW is upticking

[09:14] {dino} gm all

[09:14] {Threei}  dino :)

[09:17] {fernp} Hello everybody

[09:17] {Threei}  fern :)

[09:19] {Threei}  be back in 5

[09:19] {dino} fslr blood

[09:19] {dino} wynn too

[09:23] {Threei}  (RU) RUSSIAN OIL OUTPUT TO FALL TO 120M TONS

[09:24] {Threei}  for late arivals:

[09:25] {Threei}  [08:42] {Threei} as fine as yesterday's rally was,

[09:25] {Threei}  [08:42] {Threei} we are not of the woods yet by any stretch of imagination,

[09:25] {Threei}  [08:43] {Threei} that was just a taste of things to come, but not a start of consistent bull market yet

[09:25] {Threei}  [08:43] {Threei} it's start and stop regime for now

[09:25] {Threei}  [08:44] {Threei} so, for now the plan is:

[09:25] {Threei}  [08:44] {Threei} withdraw yesterday's "buy anything"

[09:25] {Threei}  [08:44] {Threei} and back to "be picky and careful"

[09:25] {dptl} good morning all

[09:25] {Threei}  dp :)

[09:26] {larisa} FSLR made bad joke yesterday. Reported magnificent earnings, longs jumped on board. In 30 min in CC issued warning and stated 'difficult" situation, stock dropped 15%.

[09:28] {cosmo} sandbaggers

[09:28] {Threei}  often happens when earnings andguidance are reported separately

[09:28] {dino} i puller 2 bucks out of it in 3 minutes

[09:28] {Threei}  or when CC brings more details

[09:28] {Threei}  wtg dino

[09:29] {dino} lucky, entered 138 put sell in immediately 140, hit, went to 142, then collapsed

[09:29] {larisa} wow

[09:30] {cosmo} ERIC

[09:30] {cosmo} 8.13 hi so far

[09:31] {cosmo} needs to hold 8

[09:32] {pita} gm everyone

[09:32] {Threei}  pita :)

[09:33] {patience} gm RT  :)

[09:33] {Threei}  patience :)

[09:36] {nemo} I'm getting dizzy watching fas/faz

[09:37] {ese} morning

[09:37] {Threei} Short Setup: CAT  .70 half lot

[09:37] {Threei}  stop above .90

[09:37] {Threei}  ese :)

[09:37] {nemo} too fast

[09:37] {fernp} missed

[09:38] {Threei}  anyone's in?

[09:38] {nemo} When you getting that neural implant Vad?

[09:38] {Threei}  won't track it if not

[09:38] {magoo} missed

[09:38] {_paliyad2009} vad. will send email at end of the day to understand few things

[09:38] {Threei}  sure

[09:39] {ese} dino WYNN

[09:40] {nemo} K was ist mit Qs passiert?

[09:40] {Threei}  watching AKAM

[09:40] {Threei}  would like to get pullback into .70- .75 area

[09:40] {nemo} RIMM

[09:40] {Threei}  not really jazzed about breakout

[09:41] {dino}  i like it much lower es

[09:41] {dino} pretty bad report

[09:41] {Threei}  CAT , cover half here

[09:41] {Threei}  1:1

[09:41] {Threei}  stop to .75

[09:42] {pita} got it for a change, TY

[09:42] {Threei}  pita :)

[09:42] {Threei}  what to get really, bounced right into trigger :)

[09:42] {dino} hei?

[09:42] {pita} Yes, usually too slow

[09:43] {pita} me that is

[09:43] {nemo} why RIMM running?

[09:43] {Threei}  RIMM, watch for entry on pullback into 40.60

[09:44] {ese} thinner than wynn dino

[09:44] {nemo} here it comes

[09:44] {ese} bigger drop though

[09:44] {Threei}  PREVIEW: JAN EXISTING HOME SALES DUE OUT AT 10AMET

[09:44] {Threei}  **consensus expectation: 4.79Me (+1.1%e) v 4.74M prior

[09:44] {Threei}  - analyst estimates range between 4.5M to 4.9M

[09:50] {ese} nerves of steel mags.....good one

[09:50] {dino} out bceco leftover, .47, +.33

[09:50] {Threei}  anyone caufght RIMM pullback while I was off?

[09:51] {buyemsellem} didn't pull back far enough

[09:51] {nemo} mags shorted

[09:51] {buyemsellem} I guess it did in retrospect ha

[09:52] {ese} looks like i might be down too vad

[09:52] {pita} AKAM still good?

[09:53] {Threei}  with market resuming upward only

[09:53] {Threei}  and stop under .70

[09:54] {dino} hei es?

[09:54] {dino} wynn approaches lod

[09:54] {nemo} akam almost looks like a C&H short?

[09:55] {Threei}  not against the market, it's a follower

[09:55] {dino} wynn wait under 20

[09:55] {nemo} understood

[09:56] {Threei}  if you took AKAM long, scalp only, look to exit over .80

[09:56] {Threei}  stop under .70

[09:56] {fernp} DRYS breakdown Vad?

[09:57] {Threei}  hmmm

[09:57] {Threei}  chart is right

[09:57] {Threei}  it's just that it's so stretched to the downside already on daily

[09:58] {Threei}  makes it iffy

[09:58] {Threei}  CAT, full out

[09:58] {Threei}  25.10, +.60

[09:59] {nemo} can you give guidance on range if we miss original break?

[09:59] {ese} ok i'm cut off everywhere now vad....are you online

[09:59] {Threei}  EXPLAIN PLS

[10:00] {Threei}  oops

[10:00] {Threei}  *JAN EXISTING HOME SALES: 4.49 V 4.79ME(-5.3% M/M)

[10:00] {nemo} Well...you give an exact break and the stock breaks.  have a chance to get in a few cents below or above...how far should we be willing to stretch entry?

[10:01] {Threei}  easy

[10:01] {nemo} be gentle

[10:01] {Threei}  you know your risk tolerance, you know the stop size

[10:01] {nemo} got it

[10:01] {Threei}  add a few cents to remain within your risk tolerance

[10:01] {nemo} change share size

[10:01] {Threei}  maybe adjust size

[10:01] {Threei}  right

[10:01] {Threei}  but in this case it was different

[10:01] {nemo} DENSA all the way

[10:01] {Threei}  it went down too far on original break

[10:02] {Threei}  not for chasing

[10:02] {nemo} yeah screamed through risk tolerance levels

[10:02] {Threei}  entry was available on second chance

[10:02] {Threei}  when it bounced right back into trigger

[10:03] {Threei}  STT

[10:03] {Threei}  bounce candidate, watching

[10:03] {Threei}  half lot, volatile, and let;'s wait for one more leg down

[10:04] {Threei}  wow CXAT... why do I always cover it too early

[10:04] {Threei}  CAT

[10:04] {Threei}  come on STT, drop about 40 - 50 cents more

[10:04] {nemo} chrissakes if you caught and stayed in cat you'd be done for the day

[10:05] {nemo} looking to close yesterday's gap up?

[10:06] {Threei}  it didn't gap yesteday

[10:06] {nemo} well, it shot up from 25

[10:06] {Threei}  ok, better now... want something under 25.50

[10:06] {nemo} that seems to be support

[10:06] {Threei}  sharp selling, market revesring

[10:06] {Threei}  SATT pausing

[10:06] {Threei}  that's the scenario for entry

[10:07] {dino} dino presents new law... no more politicians allowed to talk on tv

[10:08] {Threei}  OK, we are almost ready

[10:08] {Threei}  need market help now for entry

[10:09] {dino} 7105, 1126, 742 mondays' lows

[10:09] {Threei}  in

[10:09] {Threei}  stop under .30

[10:09] {dino} esi, ceco up. cpla apol down

[10:09] {Threei}  got .47

[10:11] {Threei}  half out STT

[10:12] {Threei}  .80

[10:12] {Threei}  stop .45

[10:14] {dino} watching apol, wynn, hei

[10:15] {Threei}  am I too greedy on STT?

[10:15] {nemo} singles and doubles dude

[10:15] {Threei}  well, it doesn't return to the low while market does

[10:16] {nemo} especially after yesterday

[10:16] {Threei}  and I have what, couple cents risk on the second half?

[10:16] {Threei}  whatever, I'll give it a chance

[10:16] {nemo} house money? what the hell...

[10:16] {Threei}  right

[10:16] {Threei}  and ashes of CAT knock in my heart

[10:17] {nemo} NOT GREEDY ENOUGH!!!

[10:17] {KSystems} any thoughts on gold, Vad?

[10:17] {nemo} look at SLW

[10:18] {Threei}  you know... I honestly don't understand gold

[10:18] {nemo} too small a market too few players TOO politically important

[10:18] {Threei}  I guess

[10:19] {nemo} I surmise since there's too much guessing you can't calculate the probabilities?

[10:19] {pita} reload STT this area?

[10:19] {KSystems} you gotta feel it in your little finger nemo :)

[10:20] {nemo} the little one?

[10:20] {Threei}  not sure pita

[10:20] {Threei}  I wouldn't

[10:20] {Threei}  one thing to hold the balance with half of profit secured and virtually no risk

[10:20] {Threei}  another is to go in again on this hesitance

[10:20] {nemo} kein witz bezueglich Schwanz, bitte!

[10:21] {Threei}  tinkering with STT I totally missed great RIMM pullback

[10:21] {Threei}  I need another eye

[10:21] {nemo} I was just going to say that

[10:22] {pita} and RMBS

[10:22] {Threei}  not very delighted by RMBS

[10:22] {Threei}  pitiful bounces

[10:24] {Threei}  fern... see how narrow DRYS is?

[10:24] {fernp} yes.

[10:24] {Threei}  market dropped nicely, and all this thing did was 5 cents

[10:25] {fernp} you were right

[10:27] {dino} thats like 1%

[10:27] {Threei}  lol

[10:27] {Threei}  true

[10:28] {ese} questrade is still down.....how are these 3 stock doing NVDA CSIQ & ESLR

[10:28] {Threei}  OK... offering STT 26.05

[10:28] {Threei}  NVDA 7.73

[10:28] {Threei}  CSIQ 3.8

[10:28] {Threei}  ESLR 1.32

[10:29] {Threei}  and it's a pos

[10:29] {ese} tks

[10:29] {Threei}  out STT

[10:29] {magoo} out too

[10:29] {Threei}  +.58

[10:29] {magoo} 04 exit

[10:29] {Threei}  you undercut me?

06[10:29] * Threei slaps magoo around a bit with a large roll of cash

[10:29] {nemo} Not Mags...

[10:30] {Threei}  *DOE CRUDE: +717 V +1ME;

[10:30] {Threei}  GASOLINE: -3.32M V 0.0E; DISTILLATES: +882K V -1ME; UTILIZATION: 81.4% V 82.2%E

[10:31] {nemo} SOB yesterday was talking about the huge draw down in gas 

[10:38] {Threei}  CAT doesn't bounce very much

[10:38] {Threei}  and consolidates close to .70 low

[10:38] {nemo} There's a joke in there somewhere

[10:38] {Threei}  lol

[10:39] {Threei}  risk is increasing as it drops, but

[10:39] {Threei}  probably worth a try,

[10:39] {Threei}  .70 short with stop above .85

[10:39] {nemo} It's hanging (by it's claws) to support from yesterday

[10:40] {Threei}  for hard core scalpers, stop above .80

[10:40] {Threei}  yesterday's support is .40

[10:40] {Threei}  good 30 cents lower

[10:40] {cosmo} cat came back the very next day ..... i seem to recall...

[10:40] {nemo} so that run along .80 isn't support?

[10:41] {Threei}  ?

[10:41] {Threei}  not sure I understand

[10:41] {Threei}  what run along?

[10:42] {nemo} the .80-85 area between 12:30 and 13:30

[10:42] {Threei}  scalpers have 1:1

[10:42] {nemo} cover and long around .50?

[10:42] {Threei}  no long

[10:42] {nemo} o.k. 

[10:43] {Threei}  yesterday's low is .42, right?

[10:44] {Threei}  that line along .80 from yesterday can't be a support right now because we are already below it

[10:44] {Threei}  non-scalpers have 1:1

[10:44] {pita} great timing w mkt drop, ty

[10:44] {Threei}  welcome sir

[10:45] {Threei}  when you are in tune with nature, things happen just right

[10:45] {nemo} heheheh

[10:45] {Threei}  and unenlightened call it luck

[10:45] {pita} watch that arm!

[10:45] {Threei}  :)

[10:45] {Threei}  yeah, it hurts

[10:45] {Threei}  but I need to exrecise it regularly

[10:46] {dino} always bad mouthing me

[10:46] {Threei}  never

[10:46] {pita} yes, to make more calls

[10:46] {nemo} Yeah when, Dino...must be the voices in your head

[10:48] {dino} [10:45] {Threei}  and unenlightened call it luck

[10:48] {Threei}  that was too tongue in cheek to refer to your refrain dino :)

[10:48] {nemo} Mags isn't saying anything about the market today

[10:49] {dino} new bottle og jim beam keeping him busy

[10:49] {Threei}  lol

[10:52] {Threei}  CNBC'S SANTELLI: CREDIT DEFAULT SWAPS ON US TREASURIES HAVE RISEN TO 100 BPS

[10:52] {Threei}  uh oh

[10:52] {Threei}  WFC

[10:52] {Threei}  HEARING VAGUE CHATTER BUFFET'S BERKSHIRE MAY BE MOVING TO FURTHER INCREASE ITS STAKE IN WFC

[10:52] {Threei}  - note: as of Q4, Berkshire was already the largest holder with 6.86%

[10:53] {Threei}  WFC doesn't explode on this?

[10:53] {Threei}  that's trouble

[10:54] {Threei}  or I am just early with news?

[10:54] {Threei}  nope... downticks

[10:54] {dino} buffet running out of $$$

[10:55] {Threei}  well... still must have enough to warrant more than 5 cents movement?? :)

[10:55] {Threei}  6

[10:55] {Threei}  7

[10:55] {Threei}  lol, now we are talking

[10:56] {Threei}  that's the Buffet we know and love

[10:56] {Threei}  {--- still tongue in cheek

[10:56] {Threei}  FED'S BERNANKE: PAULSON AND I WERE TOO OPTIMISTIC IN SEPT; AVOIDED A GLOBAL COLLAPSE WITH OUR COORDINATED ACTION AND CONGRESSION ACTION IN OCT - HOUSE TESTIMONY Q&A

[10:56] {dino} hei sm l .30

[11:01] {magoo} vad..u like STT down here?

[11:01] {Threei}  can't get a read on it

[11:01] {Threei}  market narrowed down too much

[11:03] {dino} apol sm l .75

[11:05] {buyemsellem} just covered second half CAT at .45 thanks vad

[11:05] {Threei}  wtg buyem

[11:05] {dino} gj

[11:17] {cujo} did you guys miss me?

[11:18] {Threei}  badly

[11:18] {ese} bstop SPWRB 28.41 1/2

[11:18] {Threei}  but more important qwuestion is,

[11:18] {magoo} i know i did

[11:18] {Threei}  what did you miss

[11:18] {cujo} i know

[11:18] {Threei}  and answer is, a lot

[11:18] {cujo} stt and cat i hear

[11:19] {Threei}  yes, and for a very nice moves

[11:19] {dino} hei stopped

[11:20] {cujo} i have faith Vad.  you have a few mor in you today.

[11:22] {Threei}  no presure eh?

[11:22] {cujo} :) never.

[11:23] {magoo} ok..quiet because was deep sea fishin

[11:23] {magoo} hooked a marlin

[11:23] {magoo} l fslr ..111 out 113

[11:24] {Threei}  that's not fair

[11:26] {Threei}  trying to get a feel, whether finnies start serious move or fizzle out

[11:26] {nemo} finnies?  I have several

[11:28] {magoo} when u know me to be fair??

[11:30] {Threei}  never, I wouldn't expect it from you and in fact would be very disturbed if you started showing any signs of that

[11:31] {Threei}  US SENATOR SCHUMER: BANK NATIONALIZATION SHOULD BE 'AVOIDED AT ALL COSTS'

[11:32] {Threei}  {--- crying

[11:33] {Threei}  BAC chart looks not bad... I just don't see yet what I want to see on it for confident entry:

[11:33] {magoo} thats what we want to hear...i'nt it?

[11:34] {Threei}  pace rising greatly, prints scrolling much faster than they do now

[11:34] {Threei}  with this confident buying pressure like yesterday

[11:35] {Threei}  instead it's this lukewarm "yeah, let's try and buy... see what happens next... yawn"

[11:35] {Threei}  WHITE HOUSE NOTES ADMINISTRATION WILL LAY OUT "BROAD PRINCIPLES" FOR REGULATORY CHANGE, INCLUDING MOVES TO REDUCE RISK

[11:35] {Threei}  this could be another reason for general market hesitance

[11:36] {Threei}  regulatory change coming...

[11:36] {dino} mcd sm l .15

[11:36] {magoo} long a mickey d's quarter pounder w/cheese  dino

[11:37] {magoo} ill buy if u fly

[11:38] {dino} nope

[11:38] {nemo} is FAZ available to short?

[11:38] {Threei}  royal with cheese you mean?

[11:38] {nemo} Thanks John...

[11:39] {Threei}  no

[11:39] {nemo} FAZ is not?

[11:39] {Threei}  right

[11:39] {Threei}  FED'S BERNANKE: BANKS WILL BE TOLD HOW MUCH CAPITAL THEY NEED FOLLOWING STRESS TESTS, BANKS WILL HAVE UP TO SIX MONTHS TO RAISE PRIVATE CAPITAL

[11:39] {buyemsellem} send order failed: security not available to borrow (FAZ)

[11:39] {Threei}  huh?

[11:39] {dino} use fas

[11:40] {Threei}  banks will be told how much capital they need?

[11:40] {nemo} I know, just wondering if it's available, means heavy bets against, probably another up in FAS coming

[11:40] {magoo} another madoff scam ....westgate capital cramer reports

[11:41] {Threei}  private?

[11:41] {Threei}  - Bernanke notes there could be more substantial share of Citi owned by the US govt

[11:42] {Threei}  FED'S BERNANKE: NOT PLANNING ANYTHING LIKE NATIONLIZATION FOR CITI

[11:42] {dino} yeah, like 100%

[11:42] {Threei}  lol

[11:42] {Threei}  he said it's not nationalization - it's public-private partnership

[11:42] {magoo} l rimm .8

[11:43] {Threei}  US SENATOR SCHUMER: BLUEPRINT FOR FINANCIAL REGULATION OVERHAUL WILL BE COMPLETED BY APRIL 2

[11:44] {Threei}  pace is much better now on BAC

[11:44] {Threei}  pullback into .65 would be nice

[11:44] {Threei}  but may not do even that

[11:45] {magoo} out RIMM .09 easy $$

[11:45] {Threei}  wtg

[11:45] {magoo} anyone??

[11:45] {Threei}  5 in cards for BAC I believe

[11:45] {magoo} vad, anyeway ti get the time on left of this sight?

[11:46] {Threei}  sure

[11:46] {magoo} as in the time i just wrote this

[11:46] {Threei}  right click on button saying #discussions

[11:46] {Threei}  Timestamp

[11:46] {Threei}  see this pace pickup?

[11:46] {Threei}  and confident pressure

[11:47] {magoo} .

[11:47] {magoo} ah..ty..im iduiot

[11:47] {ese} to funnny mags.......that crossed the language barrier nicely

[11:48] {cujo} Dino, MCD +.23.  Thanks.

[11:48] {Threei}  good job guys

[11:48] {magoo} one thing dino knows is his fast food guys

[11:48] {Threei}  lol

[11:48] {cujo} :)  love those mcnuggets.

[11:49] {dino} lol, gj

[11:50] {ese} your trading room is up above a McDonalds restaurant isn't it mags???

[11:50] {Threei}  let's try pullback entry

[11:50] {nemo} in what specifically?

[11:50] {Threei}  BAC

[11:50] {nemo} .65?

[11:50] {Threei}  two support levels, .70 and .60

[11:51] {nemo} oops

[11:52] {magoo} i always go early..tell me your in vad bac

[11:52] {Threei}  CSCO

[11:52] {Threei}  CEO: SEES EXCELLENT GROWTH FOR INDUSTRY OVER NEXT 5-10 YEARS

[11:52] {dino} gild sm l .55

[11:52] {Threei}  in

[11:52] {magoo} see that rimm? thats why we scalp'umi

[11:53] {Threei}  two ways to play it

[11:53] {Threei}  one is to keep stop under .70

[11:53] {Threei}  and try to reneter if drops into .60

[11:53] {Threei}  another is to keep stop under .60

[11:53] {dino} my entries suck today, don't follow me

[11:54] {Threei}  ECB'S ORPHANIDES: CYPRUS BANKING 'IN GOOD SHAPE'

[11:54] {Threei}  thank goodness

[11:54] {dino} what the hell was that on gild

[11:55] {Threei}  no idea... no news

[12:05] {Threei}  mags

[12:05] {Threei}  next move, IMO:

[12:06] {Threei}  offer half between .85 and .90

[12:06] {Threei}  and trry for 5 and possibly above with the rest

[12:06] {dawg} k

[12:07] {nemo} dcc laserdave

[12:07] {magoo} ok

[12:08] {Threei}  someone said something somewhere again?

[12:12] {ese} bstop for SPWRB invalidated

[12:14] {dino} ok, so what do we have, like 3 or 4 positive days this month?

[12:15] {cujo} l bac .69

[12:15] {pita} good luck, happy hunting.....

[12:16] {Threei}  take care pita

[12:17] {nemo} Bathroom Magoo?

[12:17] {magoo} been a negative indicator last few days

[12:18] {nemo} So, we'll short while you go

[12:21] {dino} lol

[12:21] {magoo} big ben on cnbc

[12:22] {Threei}  ERNANKE; TALF FUNDS WILL BE ALLOWED TO BE USE FOR REFINANCE

[12:24] {dino} good i would thinkl

[12:25] {Threei}  market doesn't react at all

[12:25] {nemo} no...refinancing won't do squat

[12:25] {Threei}  - believes credit risks are quite low under the TALF

[12:25] {nemo} 60% of workouts are already back in foreclosure

[12:30] {Threei}  - discussing mark to market, says it it problematic but does not believe the system should be junked.

[12:30] {cujo} how does this guy say short selling is a product of greed? 

[12:30] {Threei}  Supports efforts of SEC and FASB to provide guidance on ho wto value assets in a thin market.

[12:30] {cujo} doesn't he know when we are going long we are just as greedy....

[12:31] {dino} thats code for m2m talk

[12:31] {Threei}  lol

[12:31] {nemo} who is saying this?

[12:31] {dino} thin markets=m2m mods.

[12:31] {cujo} the politician who was just talking to bernanke

[12:31] {cujo} guy with a flower on his lapel

[12:31] {nemo} I'm not watching so I have no idea

[12:32] {cujo} ahh, yeah.

[12:32] {cujo} on the bberg tv

[12:32] {cujo} prob cnn as well

[12:39] {dino} esi little spike

[12:40] {magoo} fslr bottomless

[12:40] {dino} 100 magnet

[12:43] {cujo} l rimm .43

[12:43] {Threei}  nothing interesting happens for an hour at least

[12:43] {larisa} my last day today, will see you end of march guys, vacation time :) When I come back i want to see market at 10,000!

[12:43] {cujo} stpd :(

[12:43] {Threei}  lucky gal

[12:44] {cujo} have a good one.  

[12:44] {Threei}  now tell me

[12:44] {Threei}  why would want to see market going to 10000 without you

[12:44] {Threei}  I'd think you want us to hold it here for you

[12:45] {Threei}  then let it go once you are back

[12:45] {larisa} right

[12:48] {Threei}  RIMM is probably ready for a bounce here'

[12:48] {Threei}  just a scalp

[12:49] {Threei}  keep stop under .15 and aim to exit above .30

[12:50] {Threei}  there you go

[12:51] {Threei}  anyone?

[12:51] {cujo} y

[12:51] {cujo} thanks

[12:51] {dino} have a great trip larisa

[12:51] {buyemsellem} bravo, thanks

[12:51] {magoo} me 

[12:51] {Threei}  :)

[12:51] {magoo} out .44 here

[12:51] {larisa} ty dino :)

[12:53] {magoo} have nice vaca larisa

[12:54] {cosmo} vaca?

[12:54] {larisa} lol

[12:54] {cosmo} zzzz

[12:55] {cosmo} ah....trip

[12:55] {cosmo} sheesh

[12:55] {magoo} what planet u on again?

[12:55] {cosmo} the trippie one

[12:57] {cosmo} trippy, that is

[12:58] {magoo} jesus..now what..u trippin?

[12:58] {cosmo} its always summer somewhere....that kinda thing

[13:01] {cujo} Vad, RIMM .60 break worth trying here?

[13:01] {Threei}  nah

[13:01] {Threei}  not really a breakout market

[13:02] {Threei}  nor time of the day

[13:02] {cujo} got ya.  leaving it be.

[13:02] {Threei}  pullback is another matter

[13:02] {cujo} yup

[13:03] {magoo} somethings going on hee

[13:03] {Threei}  something's happening

[13:04] {magoo} lol

[13:07] {Threei}  interesting

[13:07] {Threei}  RIMM won't pull back with market

[13:09] {dino} wynn sm l .30

[13:16] {magoo} this same retard been grilling big ben for half hour

[13:16] {magoo} he probably hasnt even filed his ax returns in years and employs illegal aliens

[13:16] {Threei}  lol

[13:19] {Threei}  time to make bets?

[13:19] {Threei}  moderate green close is mine

[13:19] {magoo} up

[13:19] {magoo} 87

[13:19] {buyemsellem}  hmm

[13:20] {buyemsellem} i'll be the bear

[13:20] {Threei}  larisa... last bet before vacation?

[13:20] {buyemsellem} -200

[13:20] {nemo} I won't be here

[13:20] {dino} feic

[13:20] {cujo} ok, how we gonna make money with this crystal ball?

[13:20] {magoo} where u goin

[13:20] {nemo} sell the ball

[13:20] {Threei}  lol

[13:20] {nemo} take nefew somewhere

[13:20] {vint} green

[13:21] {Threei}  +30 DJI

[13:21] {magoo} heres the thing

06[13:21] * Threei closes his eyes

[13:21] {magoo} if IF so,...GS will make back like 4 points

[13:22] {ese} see you tomorow

[13:22] {Threei}  take care ese

[13:22] {ese} see ya vad

[13:30] {larisa} I bet we close at -150.

[13:30] {Threei}  races are on

[13:30] {magoo} good possibilityof -230

[13:31] {nemo} thought she went on vacation?

[13:32] {larisa} +30 means we will have serious rally from here and i still think we should test 7000, felt this way even yesterday.

[13:32] {larisa} not yet nemo, almost :)

[13:34] {Threei}  serious rally? it's just 150 points :)

[13:34] {Threei}  in terms of late it's like 10 min of decent trading

[13:35] {larisa} I mean some continuation, 2 days in a row.. good sign.. 

[13:35] {Threei}  we just made 25

[13:36] {Threei}  I see what you mean

[13:36] {larisa} if we go positive and close -150, i still win :)

[13:36] {Threei}  okay

[13:36] {Threei}  I feel generous tioday

[13:37] {larisa} why ?

[13:37] {Threei}  no reason

[13:38] {Threei}  maybe I just liked ben's face expression yesterday

[13:39] {larisa} then : if we go positive and close +30, I still win ? { just checking}

[13:39] {magoo} STT good candidate if IF we go up

[13:39] {Threei}  well... generous and idiot are still different things

[13:39] {larisa} lol

[13:39] {magoo} im idiot

[13:39] {cujo} l gs .51

[13:39] {Threei}  be looked like

[13:39] {Threei}  ben

[13:39] {Threei}  ummm

[13:40] {Threei}  as if he just had tremendous bowel movement

[13:40] {magoo} i just took it cujo .51

[13:40] {Threei}  AAPL

[13:40] {Threei}  SHAREHOLDERS HAVE APPROVED BOARD OF DIRECTORS, INCLUDING STEVE JOBS

[13:40] {cujo} nice

[13:41] {cujo} played small lot so i'm out 1:1

[13:42] {dino} wynn stop to .80

[13:43] {cujo} nice trade dino

[13:43] {dino} ty

[13:43] {magoo} out .20

[13:43] {magoo} + somethin good

[13:44] {Threei}  wtg

[13:44] {dino} out wyn reverse slip .87, +.57

[13:44] {cujo} nice trade mags

[13:44] {magoo} u too dawg

[13:44] {magoo} oh..we have a dawg

[13:45] {magoo} u to cujo-mojo

[13:45] {dawg} missed that one magoo but nice play

[13:45] {magoo} cujo call

[13:45] {dawg} ).

[13:45] {cujo} ;)  

[13:47] {magoo} dam..knew it

[13:47] {magoo} GS going multi points

[13:47] {cujo} things got legs

[13:47] {Threei}  didn't I tell you?

[13:48] {magoo} need to grab pullbk amd ride it to 90

[13:48] {dino} giddy-up

[13:48] {Threei}  45 points

[13:48] {Threei}  105 left

[13:49] {Threei}  90 left

[13:49] {cujo} no pullback :(  just keeps looking at me laughing.

[13:49] {dino} gild stop to .95

[13:53] {cujo} back in on pullback to 90

[13:53] {cujo} out 1/2 .38

[13:53] {Threei}  60 left

[13:53] {magoo} just did yesterdaysplay...long .40 out .65

[13:54] {Threei}  and you asked how to monetize that crystal ball

[13:54] {dino} mcd stop to .55

[13:54] {Threei}  just get general direction

[13:54] {Threei}  things will go

[13:54] {cujo} out 2nd 1/2 .67

[13:55] {cujo} +.53

[13:55] {Threei}  in fact, I may stop calling particular stocks and lmit myself to Up and Down

[13:55] {Threei}  less work... {G}

[13:56] {Threei}  here comes 5 on BAC

[13:56] {cujo} bac

[13:56] {cujo} sry, wrong screen

[13:56] {dino} mcd to .65

[13:56] {Threei}  50 points left

[13:57] {Threei}  GS up 3 points out of magoo's 4

[13:58] {dino} gild to .00

[13:58] {dino} apol to .34

[13:59] {dino} out mcd .69. +.54

[13:59] {wulff} What's a good RIMM pullback number?

[14:00] {Threei}  around 41 if we are lucky

[14:00] {dino} out apol .37, +.62

[14:01] {dino} out gild .00, +.45

[14:02] {dino} got confusing there

[14:02] {Threei}  beautiful tradinjg dino

[14:02] {Threei}  RIMM bounced off 41.05

[14:02] {dino} ixys

[14:02] {fernp} very gj dino

[14:02] {dino} ty 3i, market helped

[14:03] {wulff} missed it

[14:03] {dino} thx fernp\

[14:03] {cujo} caught RIMM thanks Vad, Wulff.

[14:04] {cujo} dino, great trading man.

[14:04] {Threei}  sounds like book title

[14:04] {dino} ty

[14:05] {Threei}  Dino, The Great Trading Man

[14:05] {cujo} he he he

[14:05] {nemo} Give Dino a bone!

[14:05] {dino} more like the lucky one

[14:05] {Threei}  only for unenlightened dino :)

[14:05] {cujo} rabid dog doesn't share bones.

[14:05] {nemo} well, than you're lucky on a large percentage of your traes

[14:05] {nemo} trades

[14:05] {Threei}  rofl cujo

[14:05] {dino} news ixys?

[14:05] {nemo} shoot rabid dog

[14:06] {cujo} i try

[14:06] {Threei}  I don't see any dino

[14:06] {dino} waiting more in '09

[14:06] {magoo} i bet mohammed aly would be a great daytrader

[14:07] {Threei}  wow

[14:07] {Threei}  BAC big pullback

[14:07] {nemo} fas too

[14:07] {magoo} float around ..jab..jab..out

[14:07] {nemo} look at him now mags

[14:07] {dino} rope a dope

[14:07] {magoo} we all gonna be likethat vrom this occupation

[14:07] {nemo} now he's just dope

[14:08] {magoo} vad bac good entry here?

[14:08] {Threei}  bounce time

[14:08] {nemo} on what specifically

[14:08] {nemo} too late

[14:09] {magoo} somethings goingon again vad

[14:09] {magoo} neg

[14:09] {Threei}  lol... I just made money by mistake

[14:10] {nemo} fur crissakes

[14:10] {Threei}  bought BAC .66,

[14:10] {Threei}  put it for sale at .73,

[14:10] {nemo} by mistake....how?

[14:10] {Threei}  changed my mind and hit .71,

[14:10] {Threei}  and didn't notice that .73 got hit too

[14:10] {Threei}  so found myself short

[14:10] {nemo} sold short huh?

[14:10] {Threei}  2K .71

[14:11] {Threei}  thing dropped to .68 and I happily covered

[14:11] {Threei}  not so much for profit as to get out

06[14:11] * magoo slaps Threei around a bit with a large trout

[14:11] {magoo} sigh

06[14:11] * Threei slaps Threei around a bit with a large roll of cash

[14:11] {magoo} wish i could be creative

06[14:11] * nemo wants Vad's fairy dust

[14:11] {Threei}  as KS for help tomorrow

[14:12] {Threei}  nemo had the same problem btw, mags

[14:12] {magoo} in a month or so i will

[14:12] {magoo} are we mostly there setup wise?

[14:12] {nemo} bummer gotta' go

[14:12] {Threei}  hmm?

[14:12] {Threei}  where there?

[14:13] {magoo} u helped me with all the settings

[14:13] {Threei}  oh

[14:13] {Threei}  one thing I thought of,

[14:14] {Threei}  you may want to try to copy that popups.ini file and paste it in MIRC folder

[14:14] {magoo} brutal pullback

[14:14] {Threei}  so you have it in two spots

[14:14] {Threei}  if that doesn't work, you are better off with KS :)

[14:14] {Threei}  BAC

[14:14] {Threei}  CEO LEWIS: MERRILL LYNCH AND COUNTRYWIDE ARE "STARS" - TV INTERVIEW

[14:15] {Threei}  lol

[14:15] {Threei}  stars or black holes?

[14:15] {dino} fallen stars perhaps

[14:15] {Threei}  dying red dwarfs

[14:16] {dino} one of those guys that pisses on your back and tells you its raining

[14:22] {Threei}  - says so far this year Merrill Lynch and Countrywide are the "star" performers at BoA.

[14:22] {Threei}  - Cannot predict what the full quarter results will look like, only discuss results so far.

[14:22] {Threei}  - Remarks that could sell certain non core assets to raise capital if necessary, could over time sell more of CCB.

[14:22] {Threei}  - Note: CEO Lewis in a memo to employees earlier this week noted that revenue would be above $100B in 2009.

[14:25] {Threei}  end of day will be interesting

[14:27] {Threei}  AFL

[14:27] {Threei}  EXEC: COMPANY HAS NO INTENTION TO ADJUST DIVIDEND THIS YEAR

[14:27] {Threei}  - Current dividend yield at approx 7%

[14:28] {Threei}  AFL is trying

[14:28] {dino} doug kass real$, 02/23., rumors merrill capital earned several billion trading year to date

[14:31] {magoo} vad..get some pics lined up if we rock

[14:33] {magoo} STT could be good one

[14:33] {Threei}  hmmm

[14:33] {Threei}  STT will go if market will but it's not the best of candidates

[14:34] {Threei}  it's at day's low while market is closer to high

[14:36] {Threei}  GS bounce candid hereate

[14:36] {Threei}  lol

[14:36] {Threei}  what's with typing

[14:37] {magoo} u need lessons

[14:37] {Threei}  badly

[14:37] {magoo} illtreasch ya

[14:37] {Threei}  watch this pullback

[14:39] {Threei}  was ideal entry near 80, too fast to type exct price

[14:39] {Threei}  anyone caught it?

[14:39] {magoo} missed that

[14:39] {magoo} thought  under

[14:39] {wulff} GS?

[14:39] {Threei}  ok, just a scalp, no chansing

[14:39] {cujo} caught it but small

[14:39] {cujo} +.13

[14:40] {magoo} CCCCUUUUUUUUUUJJJJJJJJJJOOOOOOOOOOOOo

[14:40] {magoo} h4es fast

[14:40] {cujo} got me hot keys

[14:40] {cujo} :)

[14:40] {magoo} must be a gray hound

[14:41] {Threei}  BAC over 5

[14:42] {magoo} l STT .2

[14:43] {Threei}  FDIC'S BAIR: DEPOSITORS SHOULD NOT BE CONCERNED ABOUT THE STOCK PRICE OF BANKS

[14:43] {dawg} ty magoo caught quick scalp STT

[14:44] {cujo} thanks mags

[14:44] {cujo} goo call

[14:44] {cujo} good

[14:44] {magoo} out .42 TY

[14:45] {magoo} cool beans

[14:45] {Threei}  BAC, this pace is exactly what I was refering to earlier

[14:45] {Threei}  when you see this, you have a runner

[14:46] {Threei}  watch T&S to get a feel

[14:46] {magoo} watch STT its a runner

[14:47] {magoo} problem is this mkts taking off without us

[14:48] {Threei}  I'll see you in a year

[14:48] {magoo} no..i mean now..not in BAC..GS...STT

[14:48] {Threei}  if today's calls is a problem, I want a break

[14:48] {Threei}  big one

[14:48] {magoo} u gettin to testy..lol...i meant we need a pullbk here

[14:49] {Threei}  bac buyable pullback

[14:49] {cujo} stop?

[14:49] {magoo} THATS WHAT IM SAYING HE HE

[14:49] {larisa} lets go on vacation with me vad, they will learn to appreciate you :)

[14:49] {Threei}  something like .15 entry would probably be ideal

[14:49] {Threei}  yes larisa

[14:49] {Threei}  thank you

[14:49] {larisa} yw

[14:49] {Threei}  firststrength from here

[14:50] {Threei}  .14 in

[14:50] {magoo} u guys are nuts...im just commenting on my calls and plays..scalpers regrett..for the here and now...need a pullbk

[14:50] {magoo} but then mjkts need to close green too

[14:50] {Threei}  half out .23

[14:50] {magoo} let me see..anything else lol

[14:51] {Threei}  offering balance .31

[14:52] {magoo} oferring .3099

[14:52] {Threei}  sigh

[14:52] {Threei}  out .29

[14:52] {Threei}  out of spite

[14:52] {larisa} lol

[14:52] {Threei}  lol

[14:52] {magoo} .2899

[14:52] {magoo} lol

06[14:52] * Threei slaps magoo around a bit with a large roll of cash

[14:53] {magoo} keep on slappin with that:)

[14:53] {buyemsellem} out. 29, great calls today vad

[14:53] {buyemsellem} .29

[14:53] {Threei}  ty buyem

[14:55] {Threei}  STT up a buck from bounce call

[14:55] {Threei}  GS 2 bucks

[14:55] {wulff} +.20 HIG

[14:55] {Threei}  ggh, even PIG, err, HIG works

[14:57] {magoo} 3:40 gonna be nuts..400 points up in 82 seconds

[14:58] {cujo} any plays in mind for 3:40?

[14:58] {Threei}  gosh... more than 40 minutes in advance? :)

[14:58] {Threei}  all usual suspects cujo

[14:58] {cujo} i'm demanding

[14:58] {buyemsellem} what is magical about 3:40?

[14:58] {Threei}  RIMM, STT, GS, BAC

[14:59] {Threei}  magoo has flow of energy at that time

[15:00] {Threei}  dino says "beer time" at 3:39...

[15:00] {Threei}  and ita magic time for magoo

[15:00] {dino}  funny, i was thinking of having a few tonight

[15:01] {Threei}  come on dino

[15:01] {dino} cvx sm l .25, lagging xom

[15:01] {Threei}  with today's trading you deserved single malt

[15:01] {Threei}  30 years

[15:01] {dino} ahhhh

[15:02] {Threei}  BAC want 5.50

[15:04] {wulff} took RIMM .25

[15:05] {Threei}  35 points left to my target

[15:05] {wulff} go rimm

[15:05] {Threei}  25

[15:06] {Threei}  larisa, you are breathing over there?

[15:06] {Threei}  DJI green

[15:06] {larisa} I always let you win

[15:06] {larisa} 1 hour to go

[15:06] {wulff} What's the bet?

[15:07] {Threei}  yep... as if I ask {G}

[15:07] {Threei}  oh yes... what's the bet??

[15:07] {Threei}  why do I make this mistake all the time

[15:08] {dino} out cvx .55, +.30

[15:09] {dino} emr sm l .40

[15:10] {Threei}  ACOR TICKS HIGHER AS ADDITIONAL TAKEOVER SPECULATION CIRCULATES

[15:10] {cosmo} qqqq needs 29

[15:11] {cosmo} today

[15:11] {cujo} qqqq

[15:11] {Threei}  US GOVERNMENT OFFICIAL: STRESS TEST RESULTS WILL NOT BE MADE PUBLIC

[15:12] {Threei}  shoot

[15:12] {cosmo} that bad?

[15:13] {Threei}  too stressful

[15:13] {cosmo} yeah... i dont want to know...

[15:14] {dino} green

[15:14] {cosmo} that was a long yellow

[15:16] {wulff} Its seems so foriegn to buy, set stop, wait, collect.

[15:16] {Threei}  10 points left

[15:16] {Threei}  8

[15:16] {Threei}  4

[15:16] {Threei}  3

[15:16] {magoo} awesome read vad...thats why i like to ask u for your mkt "feel" all the time

[15:16] {Threei}  1

[15:16] {Threei}  +3

[15:16] {cosmo} ... reminds me of 'Aliens'

[15:16] {Threei}  +10

[15:17] {Threei}  done counting

[15:17] {dino} market does not want to know the stress levels

[15:17] {magoo} magoo said + .87

[15:19] {magoo} out BAC .45 TY boss

[15:19] {Threei}  welcome sir

[15:19] {Threei}  oh, and

06[15:19] * Threei slaps magoo around a bit with a large roll of cash

[15:19] {magoo} u said .50 so i reloaded

[15:19] {magoo} last 2 days fun

[15:19] {Threei}  sigh

[15:19] {Threei}  larisa

[15:19] {Threei}  vacation

[15:20] {magoo} eliots spitzers jkisd on tv cmnbc

[15:20] {Threei}  can I amil myself to your destination?

[15:20] {dino} out emr .60, +.20

[15:20] {Threei}  mail

[15:20] {cosmo} you two be sure to take laptops

[15:20] {Threei}  yeah right

[15:20] {cosmo} :)

[15:21] {magoo} man..fasten seatbelts..put on trading helmets, adjust googles...3:40 nears

[15:21] {magoo} i so nervous

[15:21] {magoo} LOOK cnbc

[15:21] {magoo} his kjid

[15:21] {magoo} kid

06[15:21] * Threei passes a bottle of Valum to dino with request to feed it all to magoo

[15:22] {Threei}  wulff, you sold that RIMM?

[15:22] {magoo} i said"wow..bartroma doesnt look good" dino yells back"she hasnt looked good in years "lol

[15:23] {Threei}  lol

[15:23] {Threei}  and btw...

[15:23] {wulff} Some just now at .71

[15:23] {wulff} holding half

[15:24] {Threei}  cool

[15:24] {Threei}  [15:16] {wulff} Its seems so foriegn to buy, set stop, wait, collect.

[15:24] {Threei}  why?

[15:24] {wulff} still in HIG too

[15:24] {larisa} and I thought dino was a gentleman

[15:24] {wulff} Seems like the 90's

[15:24] {wulff} for a second

[15:24] {Threei}  come on... we did it all this time

[15:24] {Threei}  2001 - 2009

[15:24] {Threei}  non-stop

[15:25] {Threei}  where were you?? :)

[15:25] {wulff} loosing $

[15:26] {Threei}  sorry to hear...

[15:27] {Threei}  but we are at this same spot, for 9 and half years already...

[15:27] {magoo} wasnt cramer selling today??he he

[15:27] {wulff} seems to remember 03 was good

[15:27] {Threei}  2003 was bul market

[15:27] {dino} larisa, i am, magoo makes stuff up about me

[15:27] {_paliyad2009} took RIMM .25 what that mean

[15:28] {Threei}  bought RIMM at .25

[15:28] {wulff} TASR

[15:28] {cosmo} bul = short bull?

[15:28] {larisa} lol

[15:28] {cosmo} k

[15:28] {wulff} go rimm

[15:29] {_paliyad2009} at 40.25 or 41.25 like that

[15:29] {dino} vz tear down that .00 wall

[15:29] {Threei}  at the time it was 41.25

[15:29] {_paliyad2009} thanks

[15:29] {Threei}  handle is usually omitted to save time

[15:30] {Threei}  since p[osts are made real time, handle is obvious

[15:30] {dino} and paper

[15:30] {_paliyad2009} vad this is vinod

[15:30] {Threei}  oh hi

[15:30] {_paliyad2009} wants to learn here befor i join

[15:31] {dino} magoo still waiting on his rotary phone trying to sell out

[15:31] {Threei}  welcome... watch what we are doing

[15:31] {Threei}  lol dino

[15:32] {wulff} +.75 rimm

[15:32] {dino} don't have the heart to tell him no line in the wall where its' plugged in

[15:32] {dino} sweet

[15:32] {Threei}  wtg wulff

[15:32] {wulff} 100 left

[15:33] {wulff} in case

[15:33] {Threei}  well... asI told a while ago,

[15:33] {Threei}  bear market is profit,

[15:33] {Threei}  bull market is profit AND fun

[15:33] {cosmo} well .. its more polite

[15:34] {Threei}  today was the great illustration:

[15:34] {dino} -paliyad, welcome to the jungle

[15:34] {Threei}  we had very profitable morning during bearish move

[15:34] {Threei}  but no one was having fun as far as I could tell

[15:34] {Threei}  afternboon is just as profitable,

[15:34] {Threei}  but fun is being had too

[15:35] {Threei}  and of course magoo slams me in the morning, in the aftrenoon and thank goodness I don't hear from him in the evening {GGG}

[15:36] {Threei}  I hope you guys observed T&S on BAC when I asked you to pay attention

[15:36] {dino} i'm going to stop coming in until after lunch, that seems to be my time in '09

[15:36] {Threei}  this is something you need to memorize and recognize

[15:37] {Threei}  there will be much more of this when we turn the corner

[15:37] {Threei}  this even stream of high-paced prints

[15:38] {Threei}  5.50

[15:38] {Threei}  touchdown

[15:38] {Threei}  INTC

[15:38] {Threei}  CEO: TECH MARKET PURCHASING PATTERN HAS STARTED TO BECOME MORE PREDICTABLE

[15:38] {Threei}  he means predictably no one buys anything?

[15:39] {Threei}  volume on NASDAQ is even slightly higher today than yesterday's

[15:42] {dino} 3:40+, should push them up

[15:46] {Threei}  if you are up to one more scalp,

[15:46] {Threei}  watch STT pullback

[15:46] {Threei}  want brief dive under 26

[15:47] {cujo} watchin, gettin my trigger finger ready

[15:47] {Threei}  one eye on the market, another on STT

[15:48] {Threei}  what you want to see is both drop,

[15:48] {Threei}  pause,

[15:48] {Threei}  market spiking up,

[15:48] {Threei}  STT giving little pause for entry

[15:48] {Threei}  then following the market

[15:48] {Threei}  oh and keep it small

[15:48] {Threei}  STT is volatile

[15:49] {Threei}  no need to spoil the perfect day on last minutes

[15:49] {Threei}  under 26

[15:49] {Threei}  pause

[15:49] {dino} wow -80 oints from high

[15:52] {Threei}  still downticks market

[15:52] {Threei}  UPDATE: US HOUSE PASSES $410B SPENDING BILL TO KEEP GOVT RUNNING THROUGH END OF FISCAL YEAR

[15:53] {dino} like it would ever shut down

[15:53] {Threei}  lol

[15:54] {Threei}  huh?

[15:54] {Threei}  president addresses nation once again today?

[15:55] {Threei}  what the

[15:55] {dino} heck of a sell off

[15:55] {dino} guess they want govt to shut down for good

[15:55] {Threei}  lol

[15:56] {larisa} can I start count ? :)

[15:56] {Threei}  yes :)

[15:56] {dino} -130 dji from3:15ish highs

[15:56] {Threei}  you don't have enough time anyway

[15:56] {Threei}  I'll be saved by the bell

[15:56] {larisa} lol

[15:56] {dino} larisa, have fun and relax

[15:56] {Threei}  here he is

[15:57] {Threei}  ahhh

[15:57] {larisa} I will dino thanks :)

[15:57] {Threei}  that;'s why market sold off...

[15:57] {Threei}  talk on economy after meeting with Geithner

[15:57] {dino} why talk w/3 minutes to go? why? idiot

[15:58] {dino} this guy is clueless about basic market stuff

[15:58] {wulff} see you tomm. PM

[15:58] {Threei}  take care wulff

[15:59] {cujo} going to go put a dent in some of that vodka....  CAtch you all tomorrow. 

[15:59] {dino} cya wuff

[15:59] {Threei}  thank you all

[15:59] {Threei}  have a great evening

[15:59] {Threei}  see you tomorrow

[15:59] {larisa} bye :)

[15:59] {Threei}  larisa, have fun and safe trip

[15:59] {larisa} ty, you be good

[15:59] {Threei}  lol

[15:59] {Threei}  yeah right

[16:00] {cosmo} greed is good

[16:00] {Threei}  watching speech

[16:00] {dino} indeed cosmo

[16:01] {Threei}  wow

[16:01] {Threei}  do you listen?

[16:02] {dino} no

[16:02] {dptl} have a good evening all

[16:02] {Threei}  dp :)

[16:03] {Threei}  done

[16:03] {cosmo} yea... now we know what those fema camps are for...

[16:04] {Threei}  left... see you tomorrow

Feb 24 2009

That was a great day for both, us and the market (well, it was time for the market, wasn't it). I got a strong feeling that the relentless selling of late wasn't in the cards today, alerted about no shorting for today, and we started hunting for longs. Couple stops turned out to be just shakeouts and were easily compensated by winning plays, both scalps and day trades. FAS, HIG, BAC, RIMM - all performed for us and made a day nicely profitable AND fun.

               

Session Time: Tue Feb 24 00:00:00 2009

[07:45] {nemo} mornin'

[07:53] {magoo} morning

[08:01] {Threei}  Good morning

[08:02] {Threei}  CSUN

[08:02] {Threei}  SIGNS SOLAR CELL SALES AGREEMENT WITH U.S. BASED MANUFACTURER OF PHOTOVOLTAIC PRODUCTS

[08:07] {Threei}  Credit Markets:

[08:07] {Threei}  - WSJ notes that warning signs are once again appearing in credit markets, noting that the revival in risk appetite seen at the start of 2009 has faded.

[08:07] {Threei}  - Alarge part of the problem relates to a lack of clarity on how governments plan to inject new equity into banks and take bad assets off balance sheets.

[08:07] {Threei}  duh

[08:07] {Threei}  - The spread between US dollar Libor and the overnight indexed-swap rate is now back above 1.0 percentage points versus a low of about 0.9 percentage point in Jan.

[08:07] {Threei}  - Also spreads on nearly all tranches of the CMBX index have hit record wide levels in Feb after a Jan rally.

[08:07] {Threei}  - Furthermore, corporate defaults and ratings downgrades are accelerating.

[08:12] {nemo} slightly tongue in cheek...but we might as well just buy FAZ and go on vacation :)

[08:17] {Threei}  yeah, and get decimated when market decides it had enough :)

[08:17] {Threei}  tongue in cheek too, but here is the thought:

[08:18] {nemo} [08:12] {nemo} slightly tongue in cheek...

[08:18] {Threei}  our powers that be woould do the best thing by announcing:

[08:18] {Threei}  you know what, we don't know what to do and we are not going to do anything

[08:18] {nemo} yep

[08:18] {Threei}  we would have sold 1000 points in 15 minutes

[08:19] {Threei}  aand that would be the end of it

[08:19] {nemo} Nature is Unkind...in the end you cannot avoid the principle

[08:19] {Threei}  realizing that we are on our own, market would start healing

[08:20] {Threei}  MSFT CEO BALLMER: THE US IS EXPERIENCING AN "ECONOMIC RESET" THAT MAY TAKE SEVERAL YEARS - SHAREHOLDER MEETING

[08:20] {Threei}  - Notes Windows Mobile business is not profitable.

[08:20] {Threei}  BALTIC DRY BULK INDEX -3.6%, SECOND STRAIGHT DECREASE

[08:20] {Threei}  feeling in the air IMO:

[08:20] {Threei}  it's getting so dark that resolution is near

[08:23] {larisa} good morning

[08:23] {Threei}  larisa :)

[08:24] {larisa} threei :)

[08:25] {Threei}  *TED SPREAD OPENS AT 97 BPS V 97BPS PRIOR; LIBOR-OIS SPREAD OPENS AT 102BPS V 102BPS PRIOR

[08:31] {Threei}  FDIC'S BAIR: HIGHLIGHTS NEED FOR BANK STRESS TESTS TO DETERMINE CAPITAL REQUIREMENTS

[08:31] {Threei}  - Notes large banks have adequate regulatory capital and are "fine for now."

[08:31] {Threei}  - Reminder: Back on 2/23, the Treasury and Fed jointly stated that the US govt stands firmly behind the banking system and confirmed their intent to begin stress testing on Feb 25

[08:31] {Threei}  do we get to know the results of tests?

[08:32] {cosmo} sounds too stressful

[08:33] {Threei}  sure... but banks named as successfully tested would have posted serious rallies

[08:35] {cosmo} RMBS has sucessful day in court

[08:36] {cosmo} but they're not a bank

[08:36] {Threei}  news is quite confusing on it

[08:36] {Threei}  02/23/09 04:15pm

[08:36] {Threei}  [RMBS] Rambus Inc Reportedly Hynix wins ruling in California district court against Rambus in DRAM chip patent case

[08:36] {Threei}  - The ruling will allow Hynix to continue chip sales; Rambus had sought an injunction on the sales.

[08:36] {Threei}  - Hynix to pay Rambus royalties of 4.25% for DDR SDRAM

[08:37] {Threei}  02/23/09 09:02pm [000660.KS] Company said it will file an appeal vs the US court on royalties paid to Rambus, says sales in US will continue uninterrupted

[08:38] {cosmo} yes...confusing

[08:42] {nemo} Malzeit Herrn K!

[08:44] {magoo} vad..question..if u do not say half lot..are u still calling full lots? onl;y ask because of this brutal environmt

[08:44] {KSystems} hello :)

[08:44] {Threei}  ks :)

[08:44] {Threei}  yes mags

[08:44] {Threei}  on thick stocks with a stop tight enough

[08:45] {Threei}  what's the point to go to half lot on something that has very little slippage and stop, say, 10-15 cents

[08:45] {nemo} Fear

[08:46] {Threei}  fear of what

[08:46] {Threei}  your stop is your safety net

[08:46] {Threei}  loss is predetermined and built into expectations

[08:46] {nemo} I agree...it's acknowledging the emotional content

[08:47] {Threei}  our acknowledgment of this brutal environment is manifested in being picky

[08:47] {Threei}  not overtrading

[08:47] {Threei}  staying in the trenches

[08:47] {nemo} right there with ya'  

[08:47] {Threei}  but, when the trade comes along

[08:47] {Threei}  it's business as usual

[08:48] {Threei}  normal stop setting, normal sizing

[08:48] {Threei}  expectations on profit side may be somewhat different,

[08:48] {magoo} ok

[08:48] {Threei}  since volatility dictates more scalping

[08:48] {nemo} Not to speak for Mags specifically, but he being a hunter doesn't usually have to worry about being the prey.  This market...sometimes you're less sure who's predator and who's prey

[08:49] {Threei}  but look at our trades lately,

[08:49] {Threei}  we had quite a few sizeable wins

[08:49] {cujo} good morning

[08:49] {Threei}  cujo :)

[08:49] {Threei}  so, you never know

[08:50] {Threei}  just position yourself right, manage the trade and let market do its thing

[08:50] {fernp} Hello everybody

[08:51] {nemo} absolutely...isn't that the beauty, albeit vicious beauty of the taskmaster we call the market.  It forces a rigid rational discipline to overcome the natural emotional instincts

[08:51] {Threei}  fern :)

[08:51] {cujo} hello fern

[08:54] {Threei}  MDRX looked so good on daily

[08:54] {Threei}  broke 10- yesterday, I intended to watch it for slight pullback, holding 10 and breaking yesterday's high

[08:55] {Threei}  not sure what happened, I see just a downgrade

[08:56] {Threei}  PIMCO'S BILL GROSS: U.S. AND GLOBAL FINANCIAL SYSTEMS REQUIRE CREDIT CREATION AND FORECLOSURE PREVENTION, NOT BANK NATIONALIZATION AS CURRENTLY CONTEMPLATED BY SOME - MARCH INVESTMENT OUTLOOK

[08:56] {Threei}  - "If the government cannot substitute credit to the same extent that it is disappearing from the private system, then the U.S. and global economies will retreat"

[08:56] {Threei}  - "Liquidate debt (credit) to 2003 totals and you just might reduce economic activity (GDP) to 2003 numbers as well."

[08:57] {Threei}  - "There is fear on foreign shores that even U.S. agency debt may not be honored and that U.S. Treasury debt itself, when repoed as in prior years, may now suffer from counterparty risk. Global willingness to accept American dollars is being tested. Granted, the U.S. currency has appreciated strongly against its counterparts during most of this crisis, but technical short covering as opposed to a flight to quality may have been the dominant consideration. Watch the dollar. If it falls hard, there may be nothing policymakers can do to restore the ensuing financial chaos."

[08:57] {Threei}  one more doomsayer

[08:58] {cosmo} the dollar gets a stress test?

[08:58] {Threei}  I guess

[09:00] {nemo} Duh...that's the point...this stuff is disappearing and there is no way to replace it because all methods will appear artificial.  Unfortunately system expand and contract...you can not have permanent expansion...it has been artificially generated and the system is snapping back

[09:00] {Threei}  *Q4 SP_CASE-SHILLER US HPI Y/Y: -18.23V -17.2%E; US HPI: V 150.0 PRIOR

[09:00] {Onix} gm all

[09:00] {Threei}  onix :)

[09:01] {Threei}  DEC CASE SHILLER HOME PRICE INDEX: 150.66 V 154.59 PRIOR; COMPOSITE 20 INDEX: -18.55% V -18.3%E

[09:01] {Threei}  *Q4 SP_CASE-SHILLER US HPI Y/Y: -18.23% V -17.2%E; US HPI: 139.14 V 150.0 PRIOR

[09:03] {cosmo} ....so it IS just a zero sum game after all....

[09:03] {dino} gm all

[09:04] {nemo} no...it's a system whose natural dynamics have been thwarted.  The principles are unavoidable, and the farther they are stretched the more vicious the recoil

[09:05] {Threei}  dino :)

[09:06] {pita} morning seekers of the green...

[09:06] {Threei}  pita :)

[09:07] {dino} or pain

[09:10] {Threei}  I am not that giddy about shorting so far as I was for the past week

[09:11] {Threei}  spring is coiled and market is tired of endless selling

[09:11] {Threei}  sudden rally for no good reason may come out of nowhere

[09:11] {dptl} good morning all

[09:12] {Threei}  dp :)

[09:12] {cosmo} that rally will come after bad news too

[09:12] {dino} is there any other kind lately?

[09:12] {Threei}  could be on anything

[09:12] {Threei}  in spite of bad news, on any hint of good news or without news at all

[09:13] {Threei}  it's not that I expect it to happen and hunt for it

[09:13] {Threei}  rather, I am careful with shorting as probability of that rises

[09:15] {cosmo} i am comfortable being the 'trap door spider'

[09:15] {cosmo} ...waiting

[09:18] {cosmo} a final fanatical sell off that reverses with just a half hour to go in the trading day.... its been a long time...

[09:18] {cosmo} but its classic

[09:20] {magoo} shorts may cover AHEAD of speech tonite

[09:21] {magoo} we are down relentless here

[09:21] {magoo} than pop tomorrow and crash  after relizeobama is lost

[09:21] {Threei}  remind me what today's speech is about?

[09:22] {Threei}  I am getting lost in them

[09:22] {cosmo} slice of the onion

[09:22] {nemo} It's Tuesday so ther must be a speech

[09:22] {Threei}  ok

[09:22] {Threei}  lol

[09:23] {magoo} he'll be on tv today giving speech as a prelude to tonites speech

[09:23] {Threei}  you guys are as relentless as sellers in recent market

[09:23] {dino} and don't forget his "lecture" about responsibility

[09:24] {Threei}  be back in 5

[09:30] {Threei}  open we are

[09:31] {cosmo} onxx

[09:31] {cosmo} ...spread looks sloppy

[09:32] {cosmo} 32.45 hod fyi

[09:33] {ese} morning

[09:33] {Threei}  ese :)

[09:34] {Threei} Long Setup:  STT  .45 half lot

[09:34] {Threei}  if stays above .25

[09:34] {nemo} blew by that

[09:36] {Threei}  no worky

[09:36] {nemo} jumpy

[09:36] {Threei}  that's why half lot

[09:36] {nemo} and dramamine

[09:37] {Threei}  this sharp market spike is exactly what I meant

[09:37] {Threei}  I just don't see following stocks

[09:37] {Threei}  RIMM did follow

[09:38] {nemo} oy!

[09:40] {Threei}  PREVIEW: FEB CONSUMER CONFIDENCE DUE OUT AT 10AMET

[09:40] {Threei}  **consensus expectation: 35.0e v 37.7 prior (37.7 was a record low for the index)

[09:40] {Threei}  - Most analyst estimates range from 31 to 37 area

[09:40] {magoo} u got a read on Q?

[09:40] {Threei}  ONXX non stop

[09:44] {cosmo} my onxx stopped at 33.14

[09:45] {cosmo} ...prematurely

[09:48] {magoo} STT rinse-a-roo boss

[09:48] {Threei}  yeah

[09:49] {magoo} feels up..but it pulled back hard

[09:49] {Threei}  I can't get a feel whether we are in for continuation or it's just a brief snapback followed by resumtion of selling

[09:49] {cosmo} MRVL hod = 7.22  fwiw

[09:50] {nemo} I'm going with snap back

[09:50] {magoo} UP vad

[09:50] {Threei}  instinct says up

[09:50] {Threei}  al least into numbers and Ben's testimony

[09:50] {magoo} agree

[09:50] {nemo} My...that's hedging your position

[09:51] {Threei}  I have none

[09:51] {nemo} hedging your opinion?

[09:52] {Threei}  GM

[09:52] {Threei}  US TREASURY REPORTEDLY MEETING WITH AUTO LEADERS THIS WEEK- UNCONFIRMED REPOT

[09:53] {Threei}  ONXX finally decent pullback

[09:53] {Threei}  if we can get a selloff into 31.50 I'd get interested

[09:57] {Threei}  financials drag market down again

[09:57] {Threei}  look at GE

[09:57] {Threei}  BAC went red too

[09:59] {Threei}  *FEB RICHMOND FED MANUFACTURING INDEX: -51V -49E

[10:00] {Threei}  FEB CONSUMER CONFIDENCE: 25 V 35.0E

[10:00] {Threei}  FED'S BERNANKE: URGES STRONG ACTION TO STABILIZE MARKETS AND BANKS, SEES RECOVERY BEGINNING IN 2010 IF BANKS ARE STABILIZED - US SENATE TESTIMONY

[10:01] {Threei}  urges?

[10:01] {Threei}  he is Fed chairman for petes sake

[10:01] {Threei}  - Sees sharp contraction in first quarter

[10:01] {Threei}  - Reiterates there may be need for "exceptionally low rates" for some time

[10:03] {cosmo} unless you need a refi...

[10:06] {Threei}  DEC HOUSE PRICE INDEX: -0.1% V -1.7%E

[10:06] {cosmo} hmmm

[10:06] {Threei}  Q4 HOUSE PRICE PURCHASE INDEX Q/Q: -3.4% V -2.0%E

[10:07] {magoo} read RIMM vad}?

[10:07] {Threei} Long Setup:  RIMM  .60 half lot if stays above .45

[10:08] {nemo} fast

[10:08] {Threei}  over 1:1

[10:08] {ese} HURN dino

[10:08] {Threei}  and magoo... stop looking over my shoulder

[10:09] {Threei}  was typing RIMM alert as you asked :)

[10:09] {ese} long .01 1/2

[10:09] {ese} HURN

[10:10] {ese} risky.....big spreads

[10:10] {Threei}  RMBS

[10:11] {ese} this should be smaller than 1/2 lot....but i'm gonna roll with it

[10:12] {ese} stop is 39.50

[10:12] {magoo} out RIMM now .85 TY BOSS

[10:13] {dino}  gj

[10:13] {Threei}  welcome sir

[10:13] {ese} need help from indexes...........hello...knock knock....

[10:13] {Threei}  still, no looking over my shoulder

[10:13] {magoo} the new camera i installed is working well :)

06[10:13] * Threei orders urgent office debugging

[10:14] {dino} es, hurn 2 cent miss

[10:14] {dino} looking at it

[10:14] {dino} guides lower

[10:15] {ese} i'm in at .01 but could be out if indexes turn dn

[10:15] {ese} like now

[10:15] {dino} 37.59 52 week low fwiw

[10:15] {Threei}  watching RMBS for bounce

[10:16] {dino} dji gap fill

[10:16] {ese} out HURN .82

[10:16] {Threei}  8.60 area most lilely, if goes there

[10:16] {ese} lookin dn here more than up

[10:16] {ese} -.19

[10:16] {ese} gonna wait on it abit more

[10:17] {magoo} DINO MCD

[10:17] {dino} feels like yesterdays asei, whoosh down coming

[10:17] {dino} lay out at 38ish

[10:19] {Threei}  CECO

[10:19] {Threei}  HEARING STRENGTH ATTRIBUTED TO TAKEOVER CHATTER

[10:19] {Threei}  - APOL rumored as a potential acquirer

[10:19] {ese} back in HURN .97

[10:20] {ese} whoa...blink and it's .13

[10:21] {cujo} small scalp on that RMBS 

[10:21] {cujo} thanks Vad

[10:21] {Threei}  cujo :)

[10:21] {ese} nice cujo

[10:22] {cujo} thanks ese

[10:22] {magoo} u dog

[10:22] {cujo} sick dog this week...

[10:22] {magoo} mentally?:)

[10:22] {cujo} in addition to the rabies

[10:22] {cujo} no, cold...

[10:23] {Threei} Long Setup:  RIMM  .70 break half lot

[10:24] {nemo} gone already

[10:24] {Threei}  a bit late alert

[10:24] {cujo} in late .77

[10:24] {magoo} missed that 1

[10:24] {cujo} out .94

[10:24] {cosmo} slippery devel

[10:24] {magoo} back to the camera

[10:24] {Threei}  chasing a bit too much cujo

[10:24] {cujo} sry

[10:25] {cujo} that cold getting to my better judgement

[10:25] {Threei}  RMBS starts looking like real runner...

[10:26] {ese} ya nice looking 1min chart on RMBS

[10:26] {cujo} pullback into 9?

[10:26] {cujo} RMBS

[10:27] {Threei}  hard to tell

[10:27] {Threei}  jrcc

[10:27] {Threei}  never mind

[10:27] {dptl} ty rmbs +.30

[10:28] {Threei}  dp :)

[10:28] {cujo} nice trade DP

[10:28] {dptl} ty

[10:28] {Threei}  feels like serious 'ally in the making

[10:29] {ese} by this time yesterday market was red......?....pleasant change

[10:30] {ese} in and out where? dp on rmbs

[10:30] {dino} days not over yet

[10:30] {ese} true dino

[10:30] {ese} just thinking blood from a stone theory

[10:32] {cujo} I drink your milkshake, I drink it up.

[10:34] {dino} sm l hurn .00

[10:34] {Threei}  HIG pullback into .60 or just under for long entry

[10:35] {Threei}  yeah right HIG says

[10:37] {nemo} hig still good on pullback

[10:38] {Threei}  I believe so

[10:38] {nemo} damn should have taken it @ 6.66, but the numbers skeeved me!

[10:39] {Threei}  lol

[10:39] {cosmo} LBTYA

[10:40] {Threei}  market pulling back

[10:40] {Threei}  watch for buying resuming to grab HIG

[10:43] {Threei}  like clockwork

[10:43] {Threei}  if you got it under .60, 1:1 is reached

[10:43] {ese} stopped  out HURN .50

[10:43] {Threei}  half or scalp, your decision

[10:43] {Threei}  if taking half, stop to .54

[10:44] {ese} -.47 small shs 200

[10:44] {Threei}  FED'S BERNANKE:SEEING VERY HEAVY RISK AVERSION - Q&A

[10:44] {Threei}  no, really?

[10:44] {nemo} Looks like you're losing your crown...

[10:44] {Threei}  competition sure is growing

[10:45] {Threei} Long Setup:  CECO  .36

[10:45] {Threei}  stop under .30

[10:46] {Threei}  jeez RMBS

[10:47] {nemo} yeah, frickin' energizer bunny

[10:47] {Threei}  [09:10] {Threei} I am not that giddy about shorting so far as I was for the past week

[10:47] {Threei}  [09:11] {Threei} spring is coiled and market is tired of endless selling

[10:47] {Threei}  [09:11] {Threei} sudden rally for no good reason may come out of nowhere

[10:48] {Threei}  how about that for sudden rally

[10:48] {Threei}  for no good reason too, lol

[10:48] {nemo} woul you remin ceco this is a rally

[10:48] {nemo} remin

[10:48] {nemo} remind

[10:48] {nemo} fnnn "d"

[10:48] {ese} RMBS is classic vad....

[10:49] {Threei}  sqeezing hard

[10:49] {ese} thing of beauty

[10:49] {nemo} shoulda' chased

[10:50] {dptl} ty hig +.23

[10:50] {Threei}  :)

[10:51] {cosmo} 'greed' might be saved

[10:52] {Threei}  I give up

[10:52] {Threei}  Ben beat me to the pulp

[10:52] {Threei}  - says auto and housing industries will eventually be part of the recovery

[10:52] {nemo} Give what up?

[10:52] {nemo} oh

[10:52] {Threei}  my crown of captain obvious

[10:53] {nemo} Since an "O" is a bullseye, I think I'd rather let Bennie have it

[10:55] {dino} stopped hurn .56, -.44

[10:57] {Threei}  HIG is suspiciously obedient today

[10:57] {Threei}  pullback right into buying zone, very nice bounce

[10:57] {nemo} CECO is in a Mexican stand off

[10:57] {Threei}  let's see if it reapts the performance

[10:57] {Threei}  .80 - .85 zone to watch

[10:58] {Threei}  CECO no worky

[10:58] {nemo} got croaked on ceco

[11:04] {Threei}  this action inconsistent with rally continuation

[11:04] {Threei}  backing off for now

[11:06] {nemo} could you expound on that?

[11:06] {Threei}  ?

[11:06] {Threei}  which part?

[11:06] {nemo} what you consider inconsistent with continuation

[11:07] {Threei}  pullback into support,

[11:07] {Threei}  if the rally is in full steam still

[11:07] {Threei}  market should have bounced from there right away

[11:07] {Threei}  and proceed to back to the high quickly.

[11:07] {Threei}  Instead, it posted little bounce, returned to support and stalled there

[11:08] {nemo} ty

[11:08] {Threei}  remains unclear whether it reaks support now or regains strength

[11:08] {Threei}  but case for the rally is not as clear now

[11:10] {cujo} Vad, how do you take your Vodka?

[11:10] {Threei}  straight

[11:10] {cujo} Neat or with ice?

[11:10] {nemo} Now we're getting to important questions!

[11:10] {Threei}  neat

[11:11] {cujo} OUCH

[11:11] {nemo} room temp or do you keep it in the freezer?

[11:11] {Threei}  FED'S BERNANKE: BIG RISKS LAY WITH THE BIG FIRMS, STRESS TESTS WILL DETEMINE HOW MUCH AND WHAT TYPE OF CAPITAL BANKS SHOULD HOLD - Q&A

[11:11] {Threei}  - Notes that smaller banks can cause systemic risk if all affected by the same problem

[11:11] {Threei}  freezer

[11:11] {nemo} HIG broke resistance

[11:11] {Threei}  HIG newfound enthusiasm

[11:12] {magoo} read RMBS?

[11:12] {Threei}  toughie

[11:13] {magoo} whole dam mkt a toughie he he

[11:13] {Threei}  well

[11:13] {Threei}  I see it this way

[11:13] {Threei}  I am pretty much satisfied with strong feel of snapback coming, thus staying away from shorting

[11:14] {Threei}  a few trades worked, compensated nicely for couple stops,

[11:14] {Threei}  nothing earthshuttering,

[11:14] {Threei}  but full reversal of the trading aapproach in one day is not something you do

[11:14] {buyemsellem} I certify your accounting as accurate

[11:15] {Threei}  if you can get the feel of climate changing in time to keep you from old course

[11:15] {Threei}  and even get some crumbs along the new one

[11:15] {Threei}  I'd say it's pretty good timing

[11:16] {Threei}  frikin HIG never gave us pullback fro second entry

[11:16] {magoo} {buyemsellem} I certify your accounting as accurate

[11:16] {nemo} Can you kick a stock if you're not in it?

[11:16] {magoo} roflol

[11:16] {Threei}  JNPR CEO: FAILED TO ANTICIPATE THE ECONOMIC ENVIRONMENT CHANGING SO QUICKLY

[11:16] {Threei}  which one nemo?

[11:17] {nemo} HIG?

[11:17] {nemo} stomp it down, that is

[11:30] {nemo} market has gone eerily quiet

[11:30] {Threei}  yeah

[11:31] {Threei}  so have I

[11:34] {nemo} Headline AP article:  Stocks up as Bernanke says recession to end in '09

[11:34] {Threei}  HOUSE MAJORITY LEADER HOYER: ANY MAJORITY FEDERAL STAKE IN BANKS WOULD BE TEMPORARY, DOES NOT SEE THE US NATIONALIZING BANKS

[11:34] {Threei}  - US would return to minority ownership as quickly as possible, has no desire to take majority stakes over the long term

[11:35] {Threei}  market doesn't react on this anymore

[11:35] {Threei}  as dino said yesterday, got old very fast

[11:36] {Threei}  BAC and C are green, but gains are pitiful

[11:39] {KSystems} long Qs here for a swing, stop 27.10

[11:40] {Threei}  wow... market went into freezer, next to bottle of vodka

[11:40] {nemo} quiet...you're tempting me

[11:40] {Threei}  got a target for that KS?

[11:41] {KSystems} not yet

[11:41] {magoo} could explode up at 2 pm or crash...who knows, but feels like calm before the storm

[11:41] {Threei}  FED'S BERNANKE: TALF PROGRAM IS CLOSE TO OPENING

[11:50] {Threei}  - in response to a question of when extraordinary programs will be removed, Bernanke says Fed is focused on being ready to normalize monetary conditions when appropriate

[11:50] {magoo} well vad, we are getting pullbks for later if IF 'ally restarts

[11:51] {Threei}  yes

[11:51] {Threei}  I just don't want to try and scalp for penny bounces

[11:52] {magoo} hows volume today?

[11:52] {nemo} relatively high mags

[11:52] {Threei}  yeah, not bad

[11:53] {nemo} dow is 150% NAS is 110% SP 125%

[11:53] {nemo} check ht SP 112%

[11:54] {Threei}  market is desperately hungry for any excuse to reverse and explode to the upside

[11:55] {Threei}  to a degree where absence of horrific news will be percied as such excuse

[11:55] {magoo} remember the good ole days when we'd get a osama captuired/killed rumor

[11:55] {Threei}  lol

[11:55] {Threei}  that got old fast

[11:55] {nemo} either that or they sell off before the speech

[11:55] {magoo} worked firstr 10 times

[11:56] {cujo} now were chasing the manageres of ponzi schemes...

[11:56] {buyemsellem} as did bin laden...not sure if he's aging any more

[11:56] {nemo} died of kidney failure, didn't you hear.

[11:56] {buyemsellem} yeah, dialysis on the run can't work too well

[12:03] {magoo} what the h*ll going on?

[12:03] {nemo} Depression

[12:03] {nemo} At the library yesterday I was reading a book of funny Yiddish stories to my grandson..... A farmer has a healthy chicken and a sick one. What does he do? He makes chicken soup out of the healthy one and feeds it to the sick one. Sounds something like Stimulus Package thinking to me.

[12:05] {larisa} did sick chick get better ?

[12:06] {nemo} It didn't say, that's where the comment ended

[12:06] {Threei}  sick chicken came back and asked for two more healthy ones

[12:07] {nemo} wanted a separate hen house too

[12:08] {nemo} Business as Usual    http://finance.yahoo.com/news/House-Democrats-propose-410B-apf-14450221.html   House Democrats propose $410B spending bill

[12:08] {nemo} House bill to keep govt. running totals $410 billion, features thousands of pet projects 

[12:09] {dino} not sure cannibalism is a good idea, even for chickens

[12:09] {nemo} depends on the cut

[12:10] {larisa} lol

06[12:10] * magoo slaps laserdave around a bit with a large trout

[12:13] {Threei}  9 is fair natural support for RMBS

[12:14] {Threei}  if comes closer to t, will be on watch for bounce

[12:14] {nemo} using the word "fair" sounds political

[12:14] {Threei}  ACOR

[12:14] {Threei}  BIOGEN REPORTEDLY IN DISCUSSIONS OVER ACORDA'S MULTIPLE SCLEROSIS PILL - UNCONFIRMED REPORT

[12:14] {Threei}  {BIIB}

[12:15] {Threei}  eeck

[12:15] {nemo} sorry

[12:15] {nemo} like as in "fair share"  "modest tax"

[12:16] {magoo} acor vad..u thinking any play?

[12:16] {Threei}  BIOGEN REPORTEDLY LOOKING TO PURCHASE ACOR TO GET RIGHTS TO FAMPRIDINE MULTIPLE SCLEROSIS PILL - UNCONFIRMED REPORT

[12:16] {Threei}  who the hell knows... no price indicated

[12:17] {magoo} what they pay?

[12:17] {Threei}  [12:16] {Threei} who the hell knows... no price indicated

[12:17] {magoo} as i was typing ?

[12:17] {Threei}  is it takover vs current price or takeunder?

06[12:17] * magoo slaps Threei around a bit with a large trout

[12:18] {magoo} was thginking more short

[12:18] {Threei}  - Discussions may also include the purchase of rights to the drug instead of the entire company{

[12:20] {Threei}  just leave it alone mags

[12:20] {Threei}  pure gambling

[12:20] {magoo} yeah

[12:20] {Threei}  you short it, they announce takeover at 40

[12:20] {dino} biib drop

[12:20] {Threei}  you go long, they announce offer at 25

[12:27] {dino} and if you get it right, "they" will break the trade

[12:29] {magoo} really dino

[12:29] {nemo} RIMM DBed

[12:29] {nemo} ?

[12:32] {Threei}  something is brewing

[12:33] {Threei}  GOLDMAN ANALYST COMMENTS THAT JPM DIVIDEND CUT IS A NET POSITIVE

[12:33] {Threei}  - expects other strong banks to make similar pro-active dividend cuts

[12:33] {Threei}  FED'S FISHER: WARY OF GOVT INVOLVING ITSELF IN PRIVATE BUSINESS, UNCOMFORTABLE WITH BANK NATIONALIZATION, BUT BELIEVES GOVT. ACTION MAY BE NEEDED

[12:34] {Threei}  I don't believe market is going to stay this meek for very long

[12:34] {magoo} any financial candidates vad u like if mkt takes off?

[12:35] {Threei}  BAC... JPM...

[12:35] {Threei}  GS of course

[12:36] {Threei}  86 break GS

[12:36] {Threei}  grrr

[12:36] {cujo} in 86

[12:36] {cujo} small lot

[12:36] {Threei}  wtg

[12:37] {dino} sm l lphi .40

[12:37] {cujo} 1/2 out .29

[12:37] {Threei}  beautiful entry cujo

[12:37] {cujo} thanks

[12:39] {Threei}  pullback into .80 - .90 area on watch for another entry

[12:39] {cujo} was a really small lot. 

[12:42] {Threei}  FED'S BERNANKE: FED IS PREPARED TO BUY LONGER-DATED TREASURIES, WOULD LIKE TO KEEP THE OPTION OPEN - Q&A BEFORE SENATE PANEL

[12:42] {Threei}  - Not trying to affect the cost of govt finance, merely trying to help private credit markets.

[12:45] {Threei}  BAC is starting to look more stable

[12:45] {Threei}  if we get pullback into .10 - .15 area, will be worth a try

[12:45] {Threei}  scared to say, but possibly for a bigger run

[12:47] {Threei}  if no more incessant flow of comments form high above, this thing can move over 4.50 and quite possibly closer to 5

[12:48] {Threei}  GS new high

[12:49] {cujo} where's Hawk?

[12:49] {magoo} just wacked it .40 to 61

[12:49] {magoo} to fast

[12:49] {Threei}  didn't see him today

[12:49] {cujo} usually our GS alarm :)

[12:50] {Threei}  do you feel this rising tension in BAC?

[12:50] {cujo} y

[12:50] {cujo} some upward mobility?

[12:51] {Threei}  yeah

[12:51] {Threei}  worry isn't fully out yet

[12:51] {Threei}  but it's fighting

[12:53] {cujo} it is... 

[12:54] {Threei}  I have to say... all this selling of late,

[12:54] {Threei}  it's setting a stage for some spectaculat fireworks

[12:55] {Threei}  we are crawling through it, making small gains day by day,

[12:55] {magoo} vad...keep open mind

[12:55] {Threei}  then time comes for really explosive moves

[12:55] {magoo} do not perceive up as a gimmee

[12:55] {Threei}  I don't

[12:55] {Threei}  not yet

[12:56] {magoo} ok..good

[12:56] {Threei}  you could see my thought process this morning

[12:56] {Threei}  step by step

[12:56] {magoo} yup..u in bac?

[12:56] {Threei}  going from shorting mindset to no shorting

[12:56] {Threei}  to careful longs

[12:57] {Threei}  to full out

[12:57] {Threei}  scalped it mags

[12:57] {Threei}  not ready for a longer hold yet

[12:57] {Threei}  want to see a hard shakeout

[12:57] {magoo} where the pattern on it?

[12:57] {Threei}  it's quite capable of those

[12:57] {Threei}  I'd like to see it back into .20

[12:58] {Threei}  see how sharp its red bars can be?

[12:58] {magoo} yup

[12:59] {Threei}  S&P REPORTS CAPITAL ADEQUACY RATIOS AMONG US INSURERS REMAINS STRONG, BUT SEES DOWNWARD TREND

[12:59] {Threei}  - "Capitalization is especially important for mortgage insurers because their exposure to the mortgage and housing markets makes their operating results more volatile than most lines of business," said Standard & Poor''s credit analyst James Brender. "For this reason, our criteria caps the rating on a mortgage insurer at the rating its capital adequacy ratio (CAR) implies."

[12:59] {Threei}  - According to S&P, this is unique to mortgage insurers, and a mortgage insurer can be rated below the rating its CAR implies.

[13:00] {Threei}  BAC is getting there

[13:01] {magoo} u got the ball..u make the call:)

[13:01] {nemo} figures...I gotta' Magoo it

[13:02] {magoo} what?

[13:02] {cujo} in .22 BAC

[13:04] {nemo} think there might be some pullback left vad?

[13:04] {nemo} powder room Mags

[13:04] {nemo} not gunpowder

[13:04] {Threei}  in what?

[13:04] {nemo} general market

[13:05] {Threei}  after some move, sure

[13:05] {Threei}  half out cujo

[13:05] {cujo} y

[13:06] {cujo} 1/3 out .27, 1/3 out .32

[13:06] {magoo} chrsisakes scalp GS again same but dollar higher..hit .40 out .65

[13:06] {cujo} waiting on this last piece

[13:06] {Threei}  IMO... put .19 stop to that last piece,

[13:06] {cujo} done

[13:06] {Threei}  and see if you can get closer to .50

[13:07] {cujo} stop .19, fingers crossed...

[13:09] {Threei}  ugh... forgot about HIG

[13:12] {dino}  watching esi, apol

[13:12] {cujo} u think safe to update stop to .24 on BAC Vad?

[13:13] {Threei}  can't tell, this sharp market downtick is not technical

[13:14] {cujo} ok, holding at .19

[13:14] {Threei}  it really comes to personal preferences here

[13:14] {Threei}  I would do the same

[13:14] {Threei}  someone who cherishes every cent would better take it off the table

[13:15] {Threei}  see, to me this feels like last dance before takeoff

[13:15] {Threei}  I don't mean this very pullback on BAC

[13:15] {Threei}  but overall this market up and down over last few hours

[13:16] {Threei}  it's just a gut feel

[13:16] {Threei}  I am not ready to commit to it by taking a lot of long positions

[13:16] {Threei}  but having one already, and with most of profit protected

[13:16] {Threei}  and with negligible stop for the balance

[13:16] {Threei}  I'd oprefer to hold it and give it a chance

[13:17] {cujo} yup

[13:17] {Threei}  AIG

[13:17] {Threei}  REPORTEDLY, THE CEO COULD DIVEST SOME OPERATIONS TO THE US GOVT TO HELP PAY OFF THE GOVT LOAN -

[13:21] {Threei}  do you guys have this feeling of how willing market to go

[13:21] {magoo} JPM vad..read on it?

[13:21] {Threei}  still wall of worry of course, these things don't disappear in one day

[13:21] {wulff} Feels like a relief rally coming

[13:22] {Threei}  yes

[13:22] {Threei}  JPM, want one more pullback, slallow

[13:22] {wulff} I like beaks of recent highs

[13:23] {Threei}  wow FAS

[13:25] {Threei}  ACOR

[13:25] {Threei}  HEARING CHATTER BIOGEN MAY BE DENYING EARLIER SPECULATION THAT IT IS PURSUING ACOR'S MS DRUG

[13:25] {larisa} lol

[13:26] {Threei}  hehe

[13:26] {Threei}  here comes your reward for patience, cujo

[13:26] {magoo} and mine

[13:26] {Threei}  you took it mags?

[13:26] {magoo} yup

[13:27] {cujo} y

[13:27] {cujo} almost

[13:27] {magoo} waiting .47

[13:27] {Threei}  pullback is coming

[13:27] {Threei}  and pullbacks are unnerving

[13:27] {cujo} out .40 BAC impatient

[13:27] {cujo} sry Vad

[13:28] {Threei}  one quick theory moment guys

[13:29] {Threei}  this way of entry on running stocks as we did on BAC,

[13:29] {Threei}  waiting for a sharp pullback,

[13:29] {Threei}  is the way to do it during these early stages of bear market rallies

[13:29] {Threei}  if you tried to buy break on it,

[13:29] {Threei}  you'd be shaken out

[13:30] {Threei}  or had to sit through a gut-wrenching pullback with too wide stop

[13:30] {magoo} a "but" is coming

[13:30] {Threei}  time for pure breakouts will come

[13:30] {Threei}  for now it's pullbacks that shake weak hands out

[13:30] {Threei}  GE VICE CHAIRMAN: AFFIRMS PROFIT TARGETS OF FLAT TO +5% IN INFRASTRUCTURE SEGMENTS

[13:31] {magoo} out .41 

[13:31] {magoo} TY 

[13:31] {Threei}  welcome

[13:31] {cujo} thanks Vad.  Good call on that Stop level

[13:31] {Threei}  :)

[13:31] {wulff} in ADBE .75

[13:32] {Threei}  quite happy with my today's read

[13:32] {magoo} me too...nice boss

[13:32] {magoo} even your 2 misses were just rinses

[13:32] {cujo} KS you still in Q?

[13:33] {fernp} WFT valid cup & handle?

[13:33] {Threei}  chart wise yes fern, my concern is a very narrow range

[13:34] {fernp} ty

[13:34] {Threei}  ok guys, pullback is in order

[13:34] {Threei}  relax, let market digest things

[13:35] {Threei}  this last spike just now is a trap IMO

[13:35] {Threei}  for overly enthusiastic types

[13:36] {wulff} feeling greed...help

06[13:37] * Threei slaps wulff around a bit with a large bottle of antigreedin

[13:38] {wulff} stops etc. ok

[13:38] {Threei}  BAC really wants to run

[13:39] {wulff} sitting on 1.25 on PO, small sh

[13:39] {wulff} POT

[13:39] {nemo} looks like FAS wants to close the gap from yesterday

[13:41] {Threei}  I am sitting out this round

[13:41] {magoo} shoot..thought about taking 100 shares SKF short at 190 arera

[13:42] {Threei}  I don't feel market is in the state of total giddiness just yet

[13:47] {nemo} did I miss a call?

[13:47] {Threei}  no... other than maybe destiny call but I am not responsible for those

[13:48] {nemo} but you are a Sith lord

[13:48] {Threei}  [12:45] {Threei} scared to say, but possibly for a bigger run

[13:48] {Threei}  [12:47] {Threei} if no more incessant flow of comments form high above, this thing can move over 4.50 and quite possibly closer to 5

[13:49] {Threei}  BAC fulfilled first part

[13:49] {dino}  out lphi .84, +.44

[13:51] {Threei}  wtg

[13:51] {cujo} nice trade dino

[13:51] {dino} ty

[13:52] {dino} risky apol sm .80 l

[14:00] {magoo} what u stalking vad?

[14:01] {Threei}  really want market to settle into more serious pullback

[14:10] {Threei}  want BAC closer to .40

[14:10] {dino} apol stop is .47

[14:11] {dino} stopped

[14:14] {nemo} BAC doesn't want to give back

[14:15] {dino} rinsed

[14:17] {Threei}  (JP) JAPANESE PM: DID NOT DISCUSS PURCHASE OF US TREASURIES WITH PRES OBAMA, DISCUSSED METHODS TO MAINTAIN CONFIDENCE IN USD AS EROSION IN USD CONFIDENCE COULD HAVE A LARGE EFFECT

[14:17] {wulff} the greed in returning, where are my pills

[14:17] {nemo} and they keep writing spending bills

[14:18] {Threei}  buy FAZ and go on vacation would be really bad idea today eh? :)

[14:18] {nemo} yeah...contra indicator

[14:18] {buyemsellem} I don't know, at least you'd be on vacation

[14:19] {Threei}  lol

[14:19] {nemo} having said that, if it holds this bottom, you should get your pull back

[14:19] {nemo} if not, financials probably run

[14:20] {nemo} I'll ammend the vacation comment to three weeks ago

[14:20] {nemo} Let's see...what office can I run for???

[14:21] {nemo} oops...dangling preposition.  For what office can I run?

[14:24] {magoo} STT got away

[14:24] {wulff} Vad in this kind of rally, just put stops below last turn right?

[14:24] {Threei}  pretty much

[14:27] {Threei}  HIG, mama mia

[14:27] {nemo} manga mia

[14:29] {Threei}  turned into one of those days when you just buy anything except short ETFs and go sleep

[14:29] {nemo} ouch

[14:31] {wulff} we needed one of these days, one

[14:31] {Threei}  we will have much more

[14:31] {Threei}  not right away

[14:31] {Threei}  but this time will come

[14:31] {Threei}  and I have just an alert for those days:

[14:31] {Threei} Long Setup:  ANYTHING  at any price

[14:32] {cujo} really?  we gonna do this?

[14:32] {cujo} :)

[14:32] {nemo} except shorts

[14:32] {buyemsellem} in XXXX at .XX

[14:32] {dino}  3x

[14:34] {Threei}  magoo will help you recognize those days cujo

[14:34] {Threei}  when you see him go:

[14:34] {wulff} so don't feel like you are going to miss anything jsust yet, right?

[14:34] {buyemsellem} out @@@@ +.@@

[14:34] {Threei}  oops, I bought XYZ even though you called ABC, but made money anyway, so thank you

[14:34] {Threei}  you know it's one of those days

[14:35] {cujo} nice, magoo lemme know.

[14:35] {magoo} miss them days bvad

[14:35] {Threei}  consider today a sneak preview

[14:36] {Threei}  and don't call me bvad

[14:36] {cujo} you think we have mkt wide capitulation?

[14:36] {dino} no

[14:36] {Threei}  we didn't

[14:36] {cujo} "coming soon."

[14:37] {Threei}  we had orderly selling

[14:37] {Threei}  but nothing even close to real capitulation

[14:37] {buyemsellem} do you think capitulation is necessary for the markets to turn?

[14:37] {nemo} The capitulations might have been in November.  Too many stocks aren't anywhere near there 52 week lows

[14:37] {dino} no

[14:37] {Threei}  no, not that we must

[14:38] {Threei}  it would be nice

[14:38] {dino} bears can end w/ a whimper too

[14:38] {Threei}  but bottoming out can happen in various ways

[14:38] {Threei}  right dino

[14:38] {nemo} looks like the "pullback" might be over

[14:38] {magoo} 'thinkin same

[14:38] {dino} apathy could be a sign at some point

[14:39] {magoo} so prolonged and dismal

[14:39] {cujo} faz sub 60

[14:39] {magoo} may be sold

[14:40] {Threei}  watch HIG

[14:41] {Threei}  if sells off into .10 - .20 area will be bounce scalp candidate

[14:44] {Threei}  anyone got it, keep stop under .05

[14:44] {cujo} in

[14:44] {Threei}  aim to take profit in .25 - .30 area

[14:45] {nemo} in .12

[14:47] {Threei}  here we go

[14:47] {Threei}  easy money

[14:47] {jmb} thanks

[14:47] {Threei}  :)

[14:48] {nemo} ty

[14:48] {Threei}  I love it so when they are this obedient

[14:48] {Threei}  pullback depth is clearly readable, support is holding like charm, bounce is right into profit zone

[14:49] {wulff} Was is it support at 2:20pm or so?

[14:49] {Threei}  well, natural support is 8

[14:49] {Threei}  but in such strong markets they tend to bottom out aa bit higher

[14:50] {wulff} oh

[14:50] {Threei}  and pullback from above .50 was quite sizeable

[14:50] {Threei}  in weak downtrending markets they tend to do the opposite:

[14:50] {Threei}  they sell down under the natural support before bouncing

[14:50] {wulff} most annoying

[14:50] {Threei}  you may remeber many of my bounce calls from weak markets

[14:51] {Threei}  where I suggested zones under the support

[14:51] {Threei}  what I like about these nice quick scalps is,

[14:51] {Threei}  they help eliminate the effect of those few stops we had earlier

[14:52] {Threei}  so the gains become clean

[14:52] {Threei}  mentally I mostly percieve them in this wway

[14:52] {Threei}  stope compensation if you will

[14:53] {wulff} refunds

[14:53] {cosmo} rescue

[14:53] {Threei}  bailout?

[14:54] {cosmo} its all symantics

[14:54] {nemo} If HIG drops 8 short, or would have to fall below 7.80

[14:54] {cujo} BAC givin it all BAC.

[14:55] {Threei}  all?

[14:55] {Threei}  come on

[14:55] {Threei}  far from it

[14:55] {dino}  v sm risky esi l .30

[14:55] {cujo} i just wanted to say it...

[14:55] {cujo} sorry 

[14:55] {Threei}  oh

[14:55] {Threei}  welcome to club of bad puns and dubious humor

[14:55] {Threei}  I am the president

[14:55] {cujo} he he he

[14:55] {nemo} you hold a lot of titles

[14:56] {Threei}  most of them are self-assigned

[14:57] {nemo} FAS breaking highs

[14:57] {nemo} I was just going to say, awful quiet

[14:58] {wulff} Lots of fun. Quitting while I'm ahead. later.

[14:58] {Threei}  good to hear wulff :)

[14:58] {Threei}  told ya, bull markets are more fun

[14:59] {magoo} good job wolf

[14:59] {Threei}  we can navigate any

[14:59] {wulff} took 2.25 on POT

[14:59] {Threei}  but it comes to more fun or less fun

[14:59] {cujo} see ya Wulff

[15:00] {dino} gj wulf

[15:01] {magoo} interesting group...a dog, wolf, dinosaur, 3 eyes, blind man {magoo}

[15:01] {nemo} and "no man"

[15:01] {magoo} several birds

[15:01] {magoo} a fish

[15:01] {dino} and a cartoon character

[15:01] {nemo} "dinosaur"

[15:01] {Threei}  rofl

[15:02] {cosmo} wizard

[15:02] {cujo} l fas .53

[15:02] {nemo} no your a comic sidekick

[15:02] {Threei}  semi-precious stone too, mags

[15:03] {nemo} winemaker

[15:03] {magoo} out hig here .33

[15:04] {magoo} 1 ex girlfriend lol

[15:04] {larisa} nah :) it is just beauty and the beasts..

[15:04] {Threei}  thank you larisa

[15:04] {nemo} Vad...you should never have put your picture on the website

[15:04] {Threei}  oh wait... you listed me among beasts I suppose

[15:04] {larisa} of course not :)

[15:04] {larisa} you are our beauty

[15:05] {nemo} blowin' smoke there larisa?

[15:05] {Threei}  but you said beautY

[15:05] {Threei}  not plural

[15:05] {nemo} Larisa...stop while you're behind

[15:05] {larisa}  you started it

[15:05] {nemo} I didn't

[15:07] {cosmo} sound like a buncha bankers...

[15:07] {larisa} lol

[15:07] {Threei}  looks like market decided to finish on a strong note

[15:08] {dino} 50 min. to go

[15:08] {dino} long time in this market

[15:08] {Threei}  lol, so truye

[15:08] {dino} could do the average year in 50 min.

[15:09] {cujo} out 1/2 1:1 fas

[15:09] {nemo} BAC bolted right through the highs

[15:10] {Threei}  wtg cujo

[15:10] {cujo} thanks Vad

[15:10] {Threei}  pleasure to see

[15:10] {Threei}  nice clean setup

[15:10] {dino} esi stop to .36

[15:10] {Threei}  good discipline in execution

[15:10] {cujo} maybe i'm not hopeless?

[15:10] {dino} out +1.06

[15:10] {Threei}  I hope not, I need to retire sometime

[15:11] {larisa} gj dino

[15:11] {cujo} out full

[15:11] {Threei}  mibbit kicks people today or what

[15:11] {cujo} no retireing yet

[15:12] {dino} ty

[15:12] {cujo} go dino

[15:12] {cujo} nice one. 

[15:13] {dino} ceco sm l .14

[15:13] {cosmo} MRVL 7.50 resistance

[15:14] {larisa} stocks look tired, do not follow market as much

[15:18] {magoo} 240 up..been long time

[15:20] {nemo} bounce in HIG?

[15:20] {nemo} or have to go closer this time to 8?

[15:20] {Threei}  I don't like it dropping while market makes new highs

[15:20] {Threei}  I'd leave it alone

[15:21] {nemo} ty

[15:21] {cujo} Vad, BAC looking like it wants 5...

[15:21] {Threei}  larisa is right

[15:21] {Threei}  not many stocks follow index right now

[15:21] {magoo} 3:40 gonna be interesting

[15:22] {cosmo} birds will be singing...soon

[15:23] {cosmo} ...may be singing

[15:24] {buyemsellem} we are back to yesterday's open

[15:24] {nemo} I wonder if we get a sell off before the speech

[15:25] {cosmo} speech?

[15:25] {nemo} Obama tonight

[15:25] {nemo} The savior issues his daily pronouncement

[15:25] {cosmo} ah...waiting  for obama

[15:26] {nemo} Good title for a book

[15:26] {cosmo} gets old tho

[15:26] {nemo} I never watch

[15:26] {nemo} Hell, I don't even liste to the financial networks

[15:27] {cosmo} i stopped when roy blumberg get kicked

[15:27] {dino} comedy central on here

[15:28] {nemo} TV or this IM

[15:28] {dino} lol

[15:29] {Threei}  both

[15:31] {Threei}  MARKET INTERNALS UPDATE AT 3:30PMET

[15:31] {Threei}  - NYSE volume 1.28B shares, about 25% above its three-month average; advancers lead decliners by 10.9:1.

[15:31] {Threei}  - NASDAQ volume 1.9B shares, about 10% above its three-month average; advancers lead decliners by 2.9:1.

[15:32] {cosmo} not good enough imo

[15:32] {cosmo} need 50% more vol

[15:32] {nemo} volume nothing spectacular...technical bounce

[15:35] {magoo} strong close here might bring in buyers tomorrow

[15:36] {Threei}  we will see

[15:36] {Threei}  let's take one day at a time

[15:36] {Threei}  we are not out of the woods yet

[15:36] {Threei}  not even close

[15:37] {Threei}  we still have to hear financial plan

[15:37] {magoo} yup..or suckers bounce at open and bear kills all

[15:37] {cujo} i wouldn't be suprised with some profit taking today

[15:37] {Threei}  we still have to hear what they are going to do with GM/F

[15:38] {cosmo} qqqq needs 29

[15:39] {Threei}  KS got nice trade going on Qs

06[15:39] * Threei slaps larisa around a bit with a large roll of cash

[15:39] {Threei}  hmmm

[15:39] {larisa} ?

[15:39] {Threei}  that was inteneded for KS

[15:39] {Threei}  sorry :)

06[15:39] * Threei slaps KSystems around a bit with a large roll of cash

[15:39] {Threei}  there

[15:40] {dptl} ok...enought for today....have a good evening all

06[15:40] * Threei slaps KSystems around a bit with a large chart of uptrending market

[15:40] {Threei}  take care dp

[15:41] {KSystems} out Qs here +.56

[15:41] {KSystems} thanks Vad

[15:41] {cujo} nice trade KS

[15:41] {Threei}  always

[15:41] {Threei}  don't know for what though

[15:42] {Threei}  but being polite man I say welcome when thanked

[15:42] {cujo} palm in red territory

[15:42] {cujo} wonder why?

[15:42] {Threei}  ran out of gas

[15:46] {Threei}  this taste of bull market is so nice

[15:46] {cujo} stt gone and went nuts

[15:46] {cujo} look at that thing....

[15:46] {Threei}  I am salivating at the thought of trading when we get full blown one

[15:46] {Threei}  ugh

[15:46] {Threei}  and I knew it had huge potential

[15:46] {Threei}  but no, it to go and shake us out

[15:47] {Threei}  it had to

[15:47] {magoo} im so so excited !!! stop it vad

[15:47] {Threei}  whatever... it was a very nice day as it is

[15:47] {cujo} y

[15:47] {magoo} yes....ty ..i hit 100% today

06[15:48] * Threei slaps magoo around a bit with a large bottle of Prozac

[15:48] {magoo} funny though...scalps

[15:48] {magoo} most under $150

[15:48] {Threei}  that's OK

[15:48] {cujo} magoo, can you let me know when you are going to do that...

[15:48] {Threei}  turn in thinking does not happen in one day

[15:48] {dino} green is green magoo, 

[15:49] {magoo} cujo..i cant bro...i sukked yesterday

[15:49] {Threei}  look where the market is

[15:49] {magoo} see..i regrett it...but i am mojo trader...need up

[15:49] {Threei}  imagine what kind of upside we have when it finally turns

[15:50] {magoo} forgot hpow

[15:50] {dino} yes, but still under thursdays' close

[15:51] {magoo} sure dino...what would be the MOST demorallizing?

[15:51] {magoo} early pop..then crash after obama

[15:51] {Threei}  gosh, even DRYS is green

[15:51] {Threei}  barely but still

[15:52] {magoo} vad..thoughts on my last

[15:52] {magoo} {magoo} sure dino...what would be the MOST demorallizing?

[15:52] {magoo} {magoo} early pop..then crash after obama

[15:53] {larisa} obama is tonight I thought

[15:53] {Threei}  I don't know mags... too many ifs

[15:53] {nemo} So...think we should buy FAZ and go on vacation?

[15:53] {Threei}  let me just be happy I got this day's idea right before the day even started :)

[15:54] {nemo} How's the arm?

[15:54] {Threei}  after so many days of relentless selling it was tough call

[15:54] {magoo} man..just did it again

[15:54] {magoo} GS .40 to .65

[15:55] {nemo} Thank god for your third eye

[15:55] {magoo} exact same 

[15:55] {Threei}  especially with nemo ready to cut my head off as soon as it showed from under the armour

[15:55] {nemo} nahhhhhhhhhhhhhhh

[15:55] {Threei}  lol

[15:55] {fernp} Good evening all. See u tomorrow

[15:56] {magoo} nice work vad..worth thge price of admission he he

[15:56] {Threei}  take care fern

[15:57] {Threei}  STT, you slime

[15:58] {cujo} ok, heading out.  HAve a good one all.  Stay safe out there. 

[15:58] {nemo} P&Q

[15:58] {Threei}  cujo :)

[15:58] {Threei}  OK guys

[15:58] {Threei}  thank you all

[15:58] {nemo} gnite

[15:58] {Threei}  have a geart evening

[15:58] {Threei}  see you tomorrow

[15:58] {larisa} later all :)

[16:00] {dino} fwiw fridays closes, 7366,1172,770