Mar 03 2009

Winning streak of over two weeks got finally interrupted today. The day started with three stops in a row; couple strong plays on AAPL and RIMM later on corrected the situation leaving just a little but still red. Oh well.

Session Time: Tue Mar 03 00:00:00 2009

[08:04] {magoo} morning

[08:04] {Threei}  Good morning

[08:16] {Threei}  BALTIC DRY BULK INDEX +1.0%, 3RD STRAIGHT INCREASE

[08:18] {magoo} drys has been a real pos though vad

[08:18] {Threei}  yup

[08:25] {magoo} what u looking at early vad?

[08:25] {Threei}  BAC/FAS

[08:25] {magoo} i was watching as a short

[08:25] {magoo} faz

[08:26] {magoo} uin anything?

[08:27] {Threei}  no

[08:27] {Threei}  was fairly tempted to take FAS home

[08:27] {Threei}  then decided, what am I a hero

[08:35] {magoo} vad, any news aapl or rimm we need to know about?

[08:36] {Threei}  APPLE UPDATES CONSUMER DESKTOP LINE

[08:36] {Threei}  -Apple today announced updates to its iMac(R) and Mac(R) mini desktop lines, including a 24-inch iMac that is priced more affordably than ever before and a Mac mini with powerful new integrated graphics.

[08:37] {Threei}  Gartner: 17M fewer phones in cellphone inventory in Q4, demand not stabilizing in 2009

[08:37] {Threei}  - Samsung, LG won market share in Q4

[08:38] {Threei}  not really serious news... both are just gapping with market, IMO

[08:39] {pita} gm all

[08:39] {Threei}  pita :)

[08:39] {Threei}  and market reacts on renewed chatter about buying toxic assets plan

[08:39] {magoo} stating obvious here..but we are crazy oversold

[08:40] {Threei}  well... oversold can easily get oversoldeer, as we witnessed many times :)

[08:41] {cosmo} mags.... you need to sell your core holdings before there's a turn around

[08:41] {Threei}  lol

[08:41] {Threei}  for canucks:

[08:41] {Threei}  PREVIEW BANK OF CANADA INTEREST RATE DECISION EXPECTED AT 9:00AM ET (14:00 GMT)

[08:41] {Threei}  - Consensus expectation is for a 50bps rate cut to 0.50% from 1.00%

[08:41] {Threei}  - Note: There is a rang e of expectations among analyst for this rate decision There areseveral analysts calling that the BOC holding rates steady at 1.00% while several others looking for a 25bps to 50bps rate cut

[08:42] {ese} morning.....

[08:44] {Threei}  ese :)

[08:47] {dino} gm all

[08:47] {Threei}  dino :)

[08:47] {ese} cheaper mortage again....it's already crazy cheap

[08:48] {Threei}  only is those cuts will be passed to a customers... wasn't really the case with most of previous cuts

[08:48] {Threei}  is = if

[08:49] {Onix} gm all

[08:50] {Threei}  onix :)

[08:50] {Threei}  WHITE HOUSE ADVISOR ROMER: INVESTORS SEEM WILLING TO LEND TO US GOV'T AT LOW INTEREST RATES

[08:51] {magoo} treasury timmy speaks today..anyone know time?

[08:51] {dino} i'd rather hear from tool time tim

[08:52] {Threei}  Ben testifies at 10

[08:52] {Threei}  Tim, not sure

[08:52] {ese} DRYS on the move again

[08:52] {Threei}  crawl is more like it

[08:53] {dino} what time obamination?

[08:53] {magoo} lets not waste one of vads eyes watching DRYS

[08:54] {Threei}  that's a great mystery

[08:54] {magoo} most it move would be 20 cents anyway

[08:54] {Threei}  one thing is certain: at some point he will speak

[08:55] {Threei}  BAC is trying

[08:57] {Threei}  mags... for adrenalin-charged play, watch STT at the open

[08:57] {Threei}  has this manner to drop sharply a buck or two, then bounce wildly

[08:58] {Threei}  very hard to time

[08:58] {geo} good morning

[08:58] {nemo}  Good Morning...what did I miss?

[08:58] {Threei}  geo :)

[08:58] {Threei}  nemo :)

[08:58] {Threei}  not much... just usual harrassment by magoo

[08:58] {cosmo} we took red pills, tho

[08:58] {nemo} let's you know you're alive

[08:58] {nemo} mine say 

[08:59] {nemo} "sandoz

[08:59] {magoo} see how people get labeled? ive been nice 

[08:59] {nemo} Yeah, takes a long time to realize a tiger has changed it's stripes

[08:59] {Threei}  this is especially disturbing

[08:59] {nemo} What that mags has been nice?

[09:00] {Threei}  seeing magoo being nice... makes me think "where is the cathc"

[09:00] {Threei}  (CA) BANK OF CANADA CUTS BY 50BPS TO 0.50%; AS EXPECTED

[09:00] {nemo} Magoo's catholic?

[09:01] {cosmo} cathar?

[09:01] {Threei}  FED'S LOCKHART: FED IS MINDFUL OF ITS DUAL MANDATE OF GROWTH AND INFLATION CONTROL, OBJECTIVES CAN SOMETIMES BE IN CONFLICT

[09:01] {Threei}  - US economy is exhibiting weakness "across the board," shrinking at a "dramatic rate."

[09:01] {Threei}  - Still expects the US economic recovery to begin in second half of 2009.

[09:01] {Threei}  - Sees US commercial real estate and the global economic weakness are "special risks" to outlook.

[09:01] {Threei}  - The exposure of European banks is a problem.

[09:01] {Threei}  - Expects house prices to bottom this year.

[09:01] {Threei}  - Neither inflation or deflation are serious risks at this point

[09:01] {Threei}  CNBC'S LISEMAN REITERATES $200B TALF TO BEGIN TODAY, NOTES IT COULD BECOME THE FED'S LARGEST EMERGENCY LOAN PROGRAM

[09:02] {nemo} Mmmmmhhhh....interesting cool aid he's drinking

[09:04] {nemo} Interesting the pasting gold has been taking?

[09:05] {geo} yeah sniff

[09:05] {geo} if it drops below 89 my spreads are going to take a beating

[09:05] {nemo} It's a very political commodity

[09:05] {Threei}  CAD WEAKENS AFTER BOC RATE DECISION, NEAR 1.29 LEVEL

[09:05] {Threei}  good

[09:06] {cosmo} wanna buy a gold pasted watch?

[09:07] {cujo} good morning

[09:07] {Threei}  cujo :)

[09:09] {cosmo} ...sometimes i worry that someday gold will only be as good as a weapon of self defence

[09:10] {nemo} too soft

[09:10] {cujo} ha ha ha, was just thinking that.

[09:10] {cosmo} that is a problem

[09:10] {cosmo} but it still cuts

[09:10] {nemo} at least silver works against vampires and werewolves (wulff)

[09:11] {cosmo} hmmm ... i've used wood

[09:12] {dptl} good morning all

[09:12] {fernp} Hello everybody

[09:12] {Threei}  dp, fern :)

[09:12] {buyemsellem} morning

[09:12] {nemo} mornink

[09:12] {Threei}  buyem :)

[09:14] {nemo} Vad...any comments on this new routing in LASER?

06[09:14] * geo is all ears

[09:15] {Threei}  it's implemented just today, and only in a new version I haven't even downloaded yet... how would I know? :)

06[09:15] * geo got an earfull

[09:15] {Threei}  *US FED: TALF TO BEGIN MARCH 25

[09:15] {nemo} 3rd Eye

[09:16] {Threei}  [09:01] {Threei} CNBC'S LISEMAN REITERATES $200B TALF TO BEGIN TODAY

[09:16] {Threei}  so, todsay or march 25?

[09:16] {Threei}  *US FED: TALF TO BEGIN MARCH 25, SEEK LEGISLATION TO RETRIEVE TOOLS, HAVE CUT INTEREST RATES AND COLLATERAL HAIRCUTS

[09:17] {nemo} Probably end up being the 15th...something about the Ides of March seems so poetically serendipitous

[09:17] {vint} good morning all

[09:17] {Threei}  vint :)

[09:17] {Onix} fed into the haircut business now as well?

[09:17] {Threei}  and shoeshining

[09:17] {Onix} :O

[09:18] {Onix} and changing of diapers?

[09:18] {cosmo} the ideas of March ....sigh

[09:18] {nemo} It would be nice if they'd subsidize vaseline too.

[09:18] {Threei}  good one cosmo

[09:18] {Threei}  deep

[09:19] {Threei}  subliminal

06[09:20] * Threei slaps dptl around a bit with a large cigarette

[09:20] {cosmo} no more $300 hair cuts for those guys i say

[09:20] {Threei}  be back in 5

[09:22] {cujo} if i can't have a 300 dollar haircut i don't want a haircut.

[09:22] {nemo} Have one or pay for it?

[09:22] {cujo} haha, either...

[09:24] {Threei}  (CA) BOC'S MACKLEM: ACCESS TO CREDIT IN CANADA IS UNDER PRESSURE, BANKS ARE WELL CAPITALIZED

[09:25] {Threei}  if they are well capitalized, why the pressure?

[09:25] {dptl}  smoking......xe xe check this out: http://www.costco.com/Browse/Product.aspx?Prodid=11333096&cm_mmc=BCEmail_390-_-FOCUS-_-16-_-NJOYKit

[09:25] {Threei}  how do these guys manage to speak from both sides of their mouth?

[09:25] {Threei}  I gotta try that

[09:25] {Threei}  go long or short ABCD

[09:26] {nemo} drooling?

[09:28] {nemo} Geithner speak today?

[09:28] {Threei}  yeah

[09:28] {Threei}  and Ben

[09:29] {Threei}  dp, going to try that?? :)

[09:29] {nemo} Might make it to 6000 in one shot

[09:29] {dptl} thinking about it...intresting.....eh?

[09:29] {dino} if you were going to introduce game changing regulations, wouldn't you buy a big slug of a major bank, think citi, before annoucing the change- minyanville/harrison. think about that!

[09:29] {cujo} just bought 1000 zvzzt

[09:30] {dino} particulaily if you were catching heat for spending tax money

[09:32] {Threei}  watching STT

[09:32] {geo} crazy moves

[09:32] {Threei}  if sells to 22 or under, will be interested

[09:33] {cosmo} dino...we may need to sell Yosemite

[09:33] {nemo} Awww...not Yogi!

[09:33] {Threei}  it tends to overshoot any sane targets by as much as 50 cents or more, don't be oin a rush to enter

[09:35] {dino} hey hey booboo, lets get us some picinic baskets

[09:35] {Threei}  smackdown

[09:35] {magoo} spike FAZ

[09:40] {Threei}  sharp red bar in STT now is desirable

[09:42] {dino} mcd powerful

[09:43] {dino} rimm outdoing aapl

[09:43] {Threei}  PREVIEW: FED'S BERNANKE IS SCHEDULED TO TESTIFY BEFORE THE SENATE BUDGET COMMITTEE ON THE BUDGET AND ECONOMIC OUTLOOK AT 10AMET

[09:43] {Threei}  - there will be a prepared text followed by Q&A with the Senators.

[09:43] {Threei}  PREVIEW: FEB US VEHICLE SALES NUMBERS EXPECTED THROUGHOUT THE DAY FROM MAJOR AUTO MAKERS

[09:44] {nemo} those should be uuuuuuuuggggggggglllllllllyyyyyyyyyy

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

[09:44] {Threei}  **consensus expectation: -3.5%e v +6.3% prior

[09:44] {Threei}  - analyst estimates range from -0.8% to -5.0%

[09:44] {Threei}  STT didn't do what I had in mind so far

[09:44] {geo} what were you expecting vad?

[09:44] {Threei}  **consensus estimates (adjusted):

[09:44] {Threei}  - Ford: -43%e (usually released at Noon ET).

[09:44] {Threei}  - GM: -45%e (usually released around 1:45pmET).

[09:45] {Threei}  much sharper selloff

[09:45] {Threei}  usually that's what it does before bouncing a good buck or tweo

[09:45] {geo} i grabbed 10c on the bounce.... 200 shares only

[09:45] {geo} ok

[09:45] {geo} a bit whippy

[09:46] {ese} Bstop DECK 40.01 1/2

[09:47] {cosmo} PDLI

[09:47] {cosmo} salmon maybe?

[09:48] {geo}  wow FCN

[09:48] {Threei}  so far... hard to tell yet

[09:50] {Threei}  not very active opening

[09:51] {nemo} waiting on the Bobbsey Twins

[09:51] {Threei}  FDIC SENDS LETTER TO TROUBLED BANKS; CALLS FOR CEOS TO CUT RISK, LIMIT GROWTH IN BALANCE SHEET

[09:51] {nemo} what growth?

[09:51] {dino} and how does this increase lending?

[09:51] {geo} azo  strong

[09:51] {cosmo} hair growth?

[09:52] {cosmo} PDLI tests the locks at .53

[09:53] {Threei}  Prex on TV in soon

[09:53] {Threei}  Prez

[09:53] {Threei}  and you wondered...

[09:54] {nemo} So, the daily sitcom continues

[09:56] {dino} somebody tell him campaign is over

[09:56] {nemo} volumes up on Dow but down on NAZ an S&P

[09:56] {ese} thas my question WHAT GROWTH????

[09:57] {Threei}  they mean balance sheet growth... that can be achieved by overlending

[09:57] {Threei}  GOLDMAN ECONOMIST FORECASTS US Q1 GDP -7% V -4.5% PRIOR EXPECTATION

[09:57] {dino} ipcm spike

[09:58] {ese} ahhhhhhh...tks vad

[09:59] {ese} DECK is starting to look like one of your examples from your book vad

[10:00] {Threei}  JAN PENDING HOME SALES: -7.7% V -3.5%E

[10:00] {Threei}  FED'S BERNANKE: SIZE OF BANK RESCUE DEPENDS ON STRESS TEST, US MAY NEED TO EXPAND BANK RESCUE FUND

[10:00] {cujo} CAT looks lethargic

[10:01] {cujo} 10:01:17 ARCA equities experiencing street wide issues.

[10:01] {Threei}  - Economic data shows little sign of improvement

[10:01] {Threei}  - Sees contractions in foreign economies widening

[10:01] {Threei}  - Reiterates that rates should stay "very low" for "some time.

[10:01] {cujo} just got this from my execution service

[10:03] {Threei}  here is president

[10:03] {ese} L DECK .03

[10:03] {nemo} Geez...just when FAS was looking like it might be worth a trade

[10:03] {Threei}  strange opening

[10:04] {Threei}  can't remember one where I haven't got any single play in 30 minutes

[10:05] {dino} i can

[10:05] {Threei}  he says effect of rescue plan can already be felt

[10:05] {ese} DECK stop .81

[10:05] {ese} stop .00 deck

[10:06] {Threei}  BEN

[10:06] {cosmo} i feel heavy equipment nearby

[10:06] {Threei}  - Believes fiscal stimulus will raise both demand and production and reduce job losses over next two years.

[10:06] {Threei}  - Economy will not recover without market stability, must be ready to take actions to return stability.

[10:06] {Threei}  - Believes it is better to move aggresively today, the alternative is "prolonged stagnation."

[10:06] {Threei}  - Large increase in US government debt is unwelcome, but a failure to act will be more costly in the end.

[10:06] {Threei}  - The Treasury selling bank assets will eventually add revenue.{TLT SPY EUR/USD}

[10:07] {Threei}  RIMM, watching for long on pullback under 38

[10:09] {magoo} dam..missed rimm

[10:09] {ese} out DECK .44 +.41

[10:09] {Threei}  wtg ese

[10:09] {geo} nice ese

[10:09] {dino} gj es

[10:09] {cujo} nice ese

[10:09] {Threei}  PRESIDENT OBAMA: 150K JOBS TO BE CREATED BY 2011, FIRST STIMULUS CONTRACTS TO BE SIGNED TODAY

[10:09] {ese} right out of vads book

[10:10] {Threei}  150K by 2011?

06[10:10] * geo frantically flipping pages

[10:10] {nemo} on top of the 3-4 million he's saving

[10:10] {ese} hmmmmmm????

[10:10] {ese} would be nice

[10:10] {nemo} JBE geo

[10:10] {geo} I am thinking of going on welfare = get a govt job

[10:11] {Threei}  ok ese, that does it... I will have to read it finally

[10:11] {dptl} tnx Ese deck +.31

[10:11] {geo}  fcn

[10:11] {geo} oops

[10:11] {ese} nice dp....

[10:12] {nemo} How low can FAS go?  Oh! How's DRYS doin'?

[10:13] {Threei} Short Setup: STT  .80 breakdown half lot

[10:14] {Threei}  stop above 22

[10:14] {dino} gj dp

[10:14] {nemo} in

[10:15] {dptl} ty...in stt .79

[10:15] {cujo} in

[10:17] {nemo} stopped

[10:17] {Threei}  no worky

[10:17] {dptl} stopped

[10:19] {cujo} ditto

[10:20] {dino} feels like open gap fill coming

[10:23] {dino} maybe not

[10:24] {Threei} Short Setup: CAT  .85 if stays below 22

[10:25] {pita} in

[10:29] {dino} mant sm l .20

[10:31] {nemo} this trade hanging on by "CAT" claws

[10:31] {geo} CAtastrophic

[10:32] {nemo} market dropping and CAT holding

[10:32] {nemo} boots Vad boots!

[10:33] {Onix} don't boot it, stomp on it please

[10:34] {nemo} put some strychnine in the cat food!

[10:37] {dino} mcd sm l .50 trig

[10:38] {Threei}  no worky

[10:38] {cujo} in mcd with you dino

[10:38] {Onix} stopped

[10:38] {Threei}  I don't have a grip on the market this morning

[10:38] {Onix} it is crazy times

[10:39] {dino} mant stopped -.31

[10:39] {fernp} stopped CAT

[10:39] {nemo} stomped CAT!

[10:39] {Threei}  well... after more than two weeks of winning streak, am I allowed two little stops?

[10:39] {Threei}  please someone say no, and I'll go on year-long vacation {G}

[10:39] {cujo} yeah, had a good run

[10:40] {ese} L .50 mcd with you dino

[10:40] {ese} 1/2

[10:40] {cujo} ARCA OTC symbols A - J currently unavailable.

[10:40] {cujo} FYI

[10:41] {cujo} not sure if it is just my exe system or street wide. 

[10:41] {magoo} very difficult this morning to read vad...u ok

[10:41] {nemo} get same message on IB

[10:41] {cujo} exciting times. 

[10:41] {magoo} {thee..more nice:)}

[10:41] {cujo} :)

[10:41] {geo} ummmm

[10:41] {geo} vad this is unacceptable

[10:41] {magoo} STT interesting

[10:41] {ese} stop mcd .33

06[10:41] * geo hiding

[10:42] {nemo} Exciting as a barbed wire wrapped sygmoidscope

[10:42] {cujo} assuming MCD stop is about .35?

[10:42] {Threei}  thank you Geo!

06[10:42] * Threei will be back in a year

[10:42] {geo} see i want you to take vacations !!

[10:43] {geo} is it the monastery?

[10:43] {ese} mcd wants up....steady buying pressure

[10:43] {Threei}  RIMM... pullback into 38 looks buyable

[10:44] {Threei}  watch market with it

[10:44] {dino} in at .70

[10:44] {dino} guys, on mcd stop is .23

[10:45] {Threei}  the way market acts, I would feel safer with pullback into 37.80

[10:46] {dino} out rimm .10, +.40\

[10:47] {Threei}  CAT, was it a shakeout?

[10:49] {nemo} ranges so  tight today

[10:49] {cujo} too tight.

[10:50] {Threei}  NQ is locked within 15 points from the open

[10:50] {Threei}  that's why we are getting shakes instead of moves

[10:50] {nemo} Obaminated market

[10:50] {cujo} shake and bake

[10:51] {magoo} STT VAD?

[10:52] {Threei}  bounce candidate mags, but really... how do you time it here?

[10:52] {Threei}  .65 is closest support

[10:52] {Threei}  but entry point is muddy

[10:52] {Threei}  and market sells down

[10:53] {dino} lol shake and bake, ricky bobbie

[10:53] {Threei}  RIMM is coming into .80

[10:53] {Threei}  watch market for entry signal

[10:53] {nemo} After yesterday's SPLAT!  looks like the market's trying to decide whether it should stay or go...and CAT is kissin the lows

[10:53] {dino} fdo sm l .75

[10:53] {dino} mcd stopped sorry guys

[10:53] {Threei}  CAT, that was rude

[10:54] {nemo} sneaky little C&H on it

[10:54] {Threei}  NY FED: HAS ELIMENATED EXECUTIVE-COMPENSATION LIMITS FOR TALF SECURITIZERS

[10:54] {Threei}  - Note: Earlier in Session -Federal Reserve Bank of New York will lend up to $200 billion to eligible owners of certain AAA-rated ABS backed by newly and recently originated auto loans, credit card loans, student loans, and SBA-guaranteed small business loans.

[10:54] {Threei}  - Program to run until Dec 2009

[10:55] {fernp} lets try again CAT?

[10:55] {Threei}  I start thinking, entry on bounce into resistance is better way for today fern

[10:55] {Threei}  breaks don't work

[10:56] {fernp} ok. ty

[10:56] {magoo} feels like FLUSH coming

[10:56] {Threei}  look how market drops yet CAT bounces of previous support

[10:57] {ese} oppps...come back to the computor and i'm stopped mcd .32

[10:57] {ese} oh well....

[10:57] {Threei}  off the bounce though it works... just very hard to time

[10:58] {nemo} MC looking like a short here Dino?

[10:58] {nemo} MCD

[10:59] {dino} yes, depends on markets imo

[11:04] {dino} filling gaps

[11:04] {Threei}  ok, gotta try again

[11:05] {Threei}  short CAST .85

[11:05] {dino} dji, s/p filled

[11:05] {Threei}  CAT

[11:06] {dptl} stop?

[11:06] {Threei}  .95

[11:06] {dptl} ok ty

[11:08] {Threei}  sigh

[11:08] {dptl} stopped

[11:08] {Onix} stopped

[11:08] {dawg} stopped

[11:08] {magoo} ditto

[11:13] {dino} new lows dji, s/p

[11:13] {magoo} prob program trading killing here

[11:13] {magoo} 70.40 was impotant support...lost

[11:14] {nemo} look @ Faz

[11:18] {Threei}  FED'S BERNANKE: "HOPES" US DEBT TO GDP RATIO DOES NOT EXCEED 60% - Q&A

[11:18] {Threei}  hopes?

[11:19] {Threei}  FED'S BERNANKE: TALF WILL CREATE 'IMMEDIATE' BENEFITS FOR CONSUMER, STUDENT, AND BUSINESS CREDIT; BANKING HAS YET TO STABILIZE BANKING - Q&A

[11:19] {Threei}  - regrets the gaps in oversight of AIG; says NY Insurance regulator did not have the capacity to provide full oversight of AIG.

[11:19] {Threei}  - says a good target for budget is a balanced "primary budget," that is budget excluding debt payments.

[11:19] {Threei}  - Believes that all major US banks are 'viable', no major US banks are 'zombie' institutions.

[11:22] {Threei}  look at this RIMM bounce

[11:22] {Threei}  engulfing both low and high of previous wave

[11:23] {Threei}  if there are ways to read this, I am not aware of them

[11:23] {dino} i was waiting at open gap 36.88

[11:25] {pita} who stepped on CAT's tail?

[11:25] {Threei}  CAT behaves differently today

[11:26] {cujo} l aapl .94

[11:26] {dino} can't get blood from died out dead cat

[11:26] {Threei}  lol

[11:27] {Threei}  nice entry cujo

[11:28] {cujo} thanks Vad

[11:29] {nemo} Vad...charts arenlt lined up with quotes, how do I fix

[11:29] {Threei}  what is behind?

[11:29] {Threei}  charts?

[11:30] {Threei}  Quotes-Swtch ChartServer

[11:30] {nemo} see...I didn't think

[11:30] {cujo} aapl +.24

[11:36] {Threei}  C

[11:36] {Threei}  FED'S BERBANKE: BANK IS WELL CAPITALIZED

[11:36] {Threei}  I guess that's why its stock performs so well

[11:36] {nemo} Yeah, the taxpayer keeps capitalizing it

[11:37] {Threei}  wait it gets better

[11:37] {Threei}  COMPANY IS 'UNDER STRESS', DOES QUALIFY AS 'WELL CAPITALIZED'

[11:39] {Threei}  I guess PPT proved its non-existence over last week or so

[11:40] {Threei}  or impotence

[11:40] {nemo} No, they've changed their name to the Plunge PERFORMANCE Team

[11:40] {nemo} New Year New Mission

[11:41] {Threei}  C

[11:41] {Threei}  FED WILL WORK WITH COMPANY TO MAKE SURE IT IS STABLE

[11:41] {Threei}  uh oh

[11:41] {Threei}  as they worked with whole US economy?

[11:41] {nemo} Destroy markets, destroy capitalism, usher in a new era of brother, comrade, and friend

[11:41] {Threei}  they made sujre it's stable alright

[11:44] {dino}  -6% s/p since fri close

[11:44] {nemo} sounds like my blood/alcohol level since Friday night

[11:45] {dino} lol

[11:46] {cujo} ss gs .95

[11:46] {nemo} short setup developing in CAT?

[11:46] {Threei}  hmm?

[11:47] {cujo} out 1/2 .79

[11:47] {nemo} Just got that vicious volume spike and not too much enthusiasm for the new high

[11:47] {Threei}  that looks like some block

[11:48] {nemo} what were they thinking?

[11:48] {cujo} out gs +.20

[11:48] {dino} gj

[11:48] {cujo} thanks

[11:49] {cujo} too early :(  mkt got me scalpy

[11:49] {nemo} bird in hand today cujo

[11:50] {cujo} yeah, feelin that.  

[11:51] {nemo} Looks like they had to get a pre-lunch spike out of the way

[11:51] {Threei}  lordy... look at DRYS

[11:52] {nemo} Quick...launch the lifeboats!

[11:52] {Threei}  or ESLR

[11:52] {Threei}  I don't know how investors can stomach this slaughter

[11:52] {nemo} can you say "delisting notice"

[11:52] {buyemsellem} I've posted my analysis of today's S&P action if anyone is interested

[11:52] {buyemsellem} http://www.filesavr.com/snapshot-3

[11:53] {nemo} quite the vocabulary

[11:53] {Threei}  lol

[11:54] {Threei}  I love it

[11:54] {nemo} Ain't enough toilet paper for this market

[11:54] {buyemsellem} thanks

[11:54] {buyemsellem} I think we may have entered the next stage, but I don't have a name for it yet

[11:55] {dino} may you live in interesting times

[11:55] {nemo} @#)*(& That!

[11:56] {buyemsellem} why the volume spike in the DOW

[11:56] {nemo} Maybe the Mayans were right...

[11:57] {geo} back.. did I miss anything?

[11:57] {nemo} 20 minutes?

[11:57] {geo} i miss playback

[11:57] {Threei}  more misery geo

[11:58] {geo} ahhh

[11:58] {geo} I am being whipped in my GLD spread....

[11:58] {geo} i guess it is a weapon

[12:01] {nemo} CAT being defiant

[12:02] {Threei}  [11:25] {Threei} CAT behaves differently today

[12:03] {Threei}  F

[12:03] {Threei}  REPORTS FEB VEHICLES SALES -48.4% V -47%E (UNADJUSTED)

[12:06] {nemo} Vad...look at DRYS!  This is strange

[12:06] {Threei}  wo cents bounce?

[12:06] {Threei}  10

[12:06] {nemo} kind of a joke

[12:07] {nemo} cat shot up .90

[12:13] {cujo} predictions for the day

[12:13] {cujo} djia -65, snp -10

[12:14] {dino} +250 dji

[12:15] {cujo} dino, you a bull?

[12:16] {dino} for today

[12:17] {Threei}  it starts feeling this way dino

[12:18] {nemo} yeah, CAT looks like it wants to go higher, FAS is strenthening

[12:18] {dino} turnaround tuesday

[12:19] {Threei}  PREVIEW: TREASURY SECRETARY GEITNER SCHEDULED TO TESTIFY BEFORE THE HOUSE WAYS AND MEANS COMMITTEE AT 12:30PMET

[12:19] {Threei}  ummm

[12:19] {nemo} Interesting

[12:19] {Threei}  unless terrific tim does his usual

[12:19] {dino} cedc sm l .75

[12:20] {Threei}  okay... let's look for one more pullback, then strong upward push

[12:21] {Threei}  RIMM and STT are candidates

[12:21] {Threei}  RIMM around 38

[12:21] {Threei}  STT around 21.30

[12:22] {Threei}  if Tim says anything good, FAS

[12:22] {nemo} will this be a "sell the women and children" trade?

[12:23] {Threei}  nah, not yet

[12:23] {Threei}  but can be quite a strong move for the day

[12:25] {Threei}  I hate buying just before his testimony

[12:25] {Threei}  guy has a knack for killing the market

[12:28] {KSystems} for some time now I've been watching the debate about whether to remove mark-to-market accounting or not. what exactly do they mean by mark-to-market? is it the same thing that says so on my daily broker statement?

[12:28] {dino} understatement

[12:29] {Threei}  Mark-to-market is an accounting methodology of assigning a value to a position held in a financial instrument based on the current market price for the instrument or similar instruments.

[12:29] {dino} used to mark at purchase and cash flow basis. m2m was removed in great depression 1930s. just brought back end of 2007

[12:29] {nemo} Yeah but..It's an estimate of the value of assets which are relatively illiquid.  Since there's no market, there's no accuracy, yet the valuations carries heavy regulatory/legal weight

[12:29] {geo} marked to magic?

[12:29] {dino} rightttttttttttttttttttttttt

[12:29] {nemo} got a dart?

[12:30] {dino} no market, regulators are saying worthless, thats my point, this real estate is not worthless

[12:30] {nemo} Well, it'll either be sell the news, or rocket blast

[12:30] {dino} further, it is not a "real" loss. just needs time

[12:31] {nemo} no, but given the contraction of credit and pools of eligible buyers and shoppers, what is the "true" value?

[12:31] {dino} and if it's current, why mark to market

[12:31] {Threei}  look http://en.wikipedia.org/wiki/Mark-to-market, scroll down to Effect on subprime crisis and Emergency Economic Stabilization Act of 2008

[12:31] {buyemsellem} i read that wiki article the other day

[12:32] {Threei}  president on TV

[12:32] {buyemsellem} that and the uptick rule. I wanted to ask you vad, did the uptick rule affect your shorting in any way?

[12:32] {Threei}  not really

[12:33] {Threei}  let me post,

[12:33] {Threei}  I just answered this in an e-mail couple days ago

[12:33] {dino} not for me, all done by computer anyway

[12:33] {nemo} yeah, you want me to post it?

[12:33] {Threei}  Elimination of uptick rule didn't change much. The thing is, it has been eroded over years, so eactual elimination was not a very big step. Moving from fractions to decimals decreased its significance greatly.

[12:33] {Threei}  The ARCA getting an exchange status led to practical elimination of the rule on many stocks. Then sophisticated algorithms instituted by many software

[12:33] {Threei}  further undermined it when designed the way to make execution more likley: when you entered sell short at 20 while bid was, say 20.10 and on downtick, instead of rejecting an order software would offer your shares at 20.10001 and chased it down offering above current bid by just a negligible amount, so first bid entered above the current or first hit at the ask would give you a fill.

[12:34] {Threei}  And then whe the rule was abolished - not many even noticed it on practice, so little role it played.

[12:34] {buyemsellem} very interesting

[12:34] {buyemsellem} yet some people are calling for its reinstatement

[12:34] {Threei}  let them... won't change much

[12:34] {buyemsellem} yup

[12:35] {Threei}  another feel good measure with no real effect on anything

[12:35] {dino} i agree

[12:35] {dino} doesn't matter

[12:35] {Threei}  TREASURY'S GEITHNER: PLAN TO STABILIZE FINANCIAL SYSTEM MAY COST MORE, $250B PLACEHOLDER 'NOT SPECIFIC REQUEST'

[12:35] {Threei}  - Failure to cut future deficits will reduce US living standards and crowd out investment

[12:35] {Threei}  - Remarks that more tightening in credit would create more foreclosures;

[12:35] {Threei}  - Notes that credit contraction has caused job losses and business declines{

[12:36] {Threei}  Nissan REPORTS FEB US SALES -37% Y/Y

[12:36] {Threei}  ese, patience... strange place we live in

[12:37] {Threei}  Feb real estate sales are up 63 % over Jan

[12:37] {dino} fwiw, last 3 houses in foreclosure i bid went at or above ask. i didn't get any of them

[12:37] {nemo} what state?

[12:37] {KSystems} thanks for the elaboration

[12:38] {dino} north carolina and pennsylvania

[12:38] {nemo} Well, I don't know about Penn, but NC has been an outlier in the Real Estate market, yes?

[12:39] {dino} you mean stronger? yes then

[12:39] {nemo} yes

[12:39] {buyemsellem} obama says now may be a good time to buy stocks

[12:39] {dino} never bid ask, so speculators are coming back

[12:39] {buyemsellem} investment advisor in chief

[12:40] {Threei}  I want to know his picks

[12:40] {cujo} i wanna see hit portfolio

[12:40] {buyemsellem} no kidding

[12:40] {cujo} his

[12:40] {Threei}  sharp dowtick

[12:40] {dino} citi, he already bought most of it...now ditch m2m and it survives

[12:40] {cosmo} hint... they'll be selling Nissanslike crazy soon

[12:40] {cujo} if market sells off after this i will be rolling on floor

[12:40] {magoo} cnbc has on left current obama and on right future obama in 8 yrs

[12:40] {Threei}  let's ee where it takes us

[12:41] {nemo} "This is the big one Weezie!:

[12:41] {buyemsellem} giethner and obama at the same time, this is too much

[12:41] {dino} roflol magoo

[12:41] {cujo} i thought this was going to happen over night...?

[12:42] {magoo} so vad..u thinking  if we get pos response..may e banks rebound

[12:42] {magoo} like stt

[12:42] {magoo} or gs

[12:42] {Threei}  STT is back into support

[12:43] {Threei}  watching market for reversal to the upside

[12:43] {nemo} and FAZ stronger

[12:43] {dino} apol, esi moving

[12:43] {Threei}  let's try .36

[12:43] {Threei}  if stays above .20 - .25

[12:44] {nemo} missed

[12:44] {magoo} teleported

[12:44] {Threei}  scalpers got their 1:1 quickly

[12:44] {Threei}  anyone got it?

[12:44] {magoo} shit i went right at post and missed

[12:44] {magoo} i went .36

[12:44] {Threei}  ugh

[12:45] {nemo} we need neural implants

[12:45] {magoo} but really..im thinking more upside if IF mkt goes

[12:45] {Threei}  clean pullback right into zone I wanted and just as clean bounce...

[12:45] {cujo} missed it

[12:45] {cujo} happened soo fast

[12:45] {Threei}  yeah

[12:45] {magoo} good call..just popped

[12:45] {magoo} {nice again:)}

[12:45] {magoo} HERS TIM

[12:46] {magoo} HERES

[12:46] {nemo} no...you were right the first time

[12:47] {cujo} Vad, does Rig look ready to take a dive?

[12:47] {Threei}  only if market drops

[12:48] {nemo} same with CAT?

[12:48] {Threei}  no

[12:48] {Threei}  I don't have a read on CAT at all

[12:48] {Threei}  RIG chart is failry similar to one of market

[12:48] {Threei}  CAT lives its own life today

[12:49] {cujo} ss rig .88

[12:49] {Threei}  RIGs range is 56.80 - 57

[12:49] {Threei}  whichever way market moves from here, RIG should follow

[12:49] {cujo} y, stop at .06

[12:51] {Threei}  there you go RIG

[12:51] {Threei}  thing of beauty

[12:51] {cujo} down with rigg

[12:51] {cujo} rig

[12:52] {cujo} out 1/2 .63

06[12:52] * Threei slaps cujo around a bit with a large roll of cash

[12:53] {nemo} CAT decided to follow rig

[12:53] {cujo} out 2nd .47

[12:53] {Threei}  crapshot

[12:53] {nemo} wow cujo

[12:53] {nemo} yeah, 

[12:53] {Threei}  it didn't follow many previous market drops today

[12:53] {nemo} no...definitely lower probability, coin just bounced heads this time

[12:54] {magoo} so far tim a bust mkt wisew

[12:54] {nemo} Yeah FAS sinking FAZ climbing

[12:54] {Threei}  TM

[12:54] {Threei}  FEB US SALES DOWN 37%

[12:54] {Threei}  - Note that was v -32% in January m/m

[12:55] {Threei}  DAI

[12:55] {Threei}  REPORTS MERCEDES-BENZ USA FEB VEHICLES SALES -23.5%, TO 14,199 UNITS

[12:55] {nemo} does that mean December to January or January over January

[12:56] {Threei}  Feb sales - I take it as Feb sales...

[12:57] {Threei}  over Jan ones

[12:57] {nemo} wow! not from last year...

[12:58] {Threei}  maybe I am mistaken

[12:58] {Threei}  seems way too low

[12:58] {nemo} not necessarily

[12:58] {Threei}  yeah, what's "too low" these days

[12:59] {nemo} if CAT consolidates around .75 and then market continues lower, would that be viable short?

[12:59] {Threei}  ask UAUA what too low is

[12:59] {nemo} or DRYS

[12:59] {Threei}  I don't know, I just want to drop CAT for today

[13:00] {nemo} hehehehehehehehe

[13:00] {Threei}  why pursue the name that changed its ways

[13:00] {pita} later all, happy hunting

[13:00] {Threei}  it worked like charm for two weeks

[13:00] {Threei}  trying to do the same qwith it today is pure stubborness

[13:00] {Threei}  take care pita

[13:00] {ese} had to teach a class....i'm back

[13:01] {Threei}  12:36] {Threei} ese, patience... strange place we live in

[13:01] {Threei}  [12:37] {Threei} Feb real estate sales are up 63 % over Jan

[13:02] {ese} definately......my houses have not lost any value in my area

[13:02] {Threei}  UAUA... every time it dropped this low, it staged drastic comeback over last months

[13:02] {ese} prices have stayed the same if not risen

[13:03] {Threei}  no kidding... very resilient

[13:03] {Threei}  and I have a theory why that is

[13:03] {Threei}  anyone has insight on UAUA?

[13:03] {ese} shot

[13:03] {ese} shoot

[13:03] {Threei}  any bankruptsy threat?

[13:04] {ese} no

[13:04] {Threei}  'cause it's very tempting as a swing

[13:04] {ese} ah thought you were talking about my house

[13:04] {Threei}  yes

[13:04] {Threei}  here it is

[13:04] {cujo} very tied to oil though...

[13:05] {dino} uaua? dk, unless travel is dropping

[13:05] {cujo} the UAUA

[13:05] {Threei}  unlike most of other places in Canada, we have unusually low % of homeowners who must move in pursuit of work,

[13:05] {ese} have to sign off for a few minutes

[13:05] {Threei}  and very high % of people with houses paid off.

[13:06] {Threei}  It transpirres into situation where homeowners unhappy with prices simply take houses off the makret

[13:06] {patience} steady stream of people retiring here, generational behaviour

[13:06] {Threei}  since they have no pressure to sell

[13:06] {Threei}  yup

[13:06] {Threei}  so... volume of sales drops, prices don't

[13:07] {Threei}  well, not to such degree anyway

[13:08] {Threei}  upward move was meek

[13:08] {Threei}  had some wings until these guys opened their mouth again

[13:12] {dino} gs pain

[13:13] {Threei}  market spike is coming

[13:13] {Threei}  AAPL worth a try

[13:13] {Threei}  with stop under .50

[13:14] {Threei}  anyone caught it, feel free to take profit here

[13:14] {nemo} oh, the break was anywhere at the call?

[13:15] {Threei}  there was no break

[13:15] {cujo} nice call Vad

[13:15] {nemo} yeah...just enter

[13:15] {Threei}  just where it was during the alert

[13:15] {Threei}  .65 . .68 at the time

[13:15] {cujo} +.20

[13:15] {Threei}  wtg cujo

[13:15] {Threei}  pure following the market

[13:15] {Threei}  and market was going to spike

[13:16] {magoo} holy crap..naz green

[13:18] {ese} am back again

[13:18] {Threei}  so, guess who works on new market regulations

[13:18] {magoo} ?

[13:18] {Threei}  Among those attending Wednesday's meeting at the White House was House Financial Services Committee Chairman Barney Frank.

[13:18] {Threei}  The Massachusetts Democrat has already begun working on legislation that would establish a regulator to oversee the kind of systemic risks that led to the market free fall last year.

[13:18] {Threei}  why am I not jazzed

[13:19] {cujo} then he's gonna walk on water

[13:20] {Threei}  this I would watch with interest, under two conditions

[13:20] {Threei}  1. no bottom for couple hunrded ft

[13:20] {Threei}  2. no life-saving devices or crews

[13:21] {cujo} ha ha ha

[13:21] {nemo} And sharks in the water..or Pirhhana

[13:21] {cujo} def

[13:21] {magoo} roflol

[13:22] {Threei}  IMO, one of those caused most harm to whole system

[13:22] {Threei}  somehow he is among these emanating righteous indignation now

[13:23] {nemo} he's from massachusetts, which makes him a masshole

[13:23] {magoo} vad its time for my ?..yuour thoughts here

[13:24] {Threei} above was not a call for his physical death but rather for his early retirement

[13:24] {Threei}  that can't come too early

[13:24] {Threei}  mags, I had strong feeling of a sharp upward move for today... before all these speeches

[13:24] {nemo} Hey...it would be no different that going to the Coliseum for a little Christians vs. Lions entertainment

[13:28] {dino}  markets are dead

[13:28] {Threei}  I like RIMM's rfelative strength

[13:29] {Threei}  hmmm

[13:29] {Threei}  SBUX CEO: OBSERVING DEMAND FOR INSTANT DECAF COFFEE THROUGH GROCERY CHAINS

[13:34] {dino} we would have a better market if these politicians would get off the tv

[13:34] {Threei}  both market and RIMM at support likely to provide a bounce

[13:34] {Threei}  watc market for upticks to scalp RIMM

[13:36] {nemo} cujo, catch that next leg down in rig?

[13:36] {cujo} i didn't

[13:37] {cujo} didn't have it on my screen.  You play it?

[13:37] {nemo} I was Magooing it...saw it when I came back

[13:38] {Threei}  in .43

[13:38] {nemo} in what?

[13:38] {nemo} RIMM?

[13:38] {magoo} .45 here

[13:38] {cujo} in .45

[13:38] {dptl} stop .33?

[13:38] {Threei}  [13:34] {Threei} both market and RIMM at support likely to provide a bounce

[13:38] {Threei}  [13:34] {Threei} watc market for upticks to scalp RIMM

[13:39] {Threei}  .33 or under .30

[13:40] {dptl} grabed .44

[13:41] {dawg} in .44

[13:42] {Threei}  can't tell whether it's just a scalp of capable of more

[13:42] {Threei}  decide for yourself guys

[13:42] {Threei}  half out for me

[13:43] {Threei}  .59

[13:43] {cujo} there she goes

[13:43] {Threei}  stop to .38

[13:46] {Threei}  soft toilet paper is not eco-friendly

[13:46] {Threei}  yup... sandpaper is

[13:46] {cujo} its arse friendly

[13:46] {nemo} reminds of a great slam

[13:47] {Threei}  I hope researcher who did the study is first to start using sand paper

[13:47] {Threei}  and I'll wait for his report

[13:47] {magoo} bumped

[13:47] {Threei}  GM

[13:47] {Threei}  REPORTS FEB VEHICLES SALES -52.9% V -49%E

[13:48] {magoo} am i here??

[13:48] {Threei}  yes

[13:48] {nemo} Yes

[13:48] {magoo} is dino?

[13:48] {Threei}  no

[13:49] {Threei}  13:46] * magoo Quit (Ping timeout: 121 seconds)

[13:49] {Threei}  [13:48] * dino Quit (Ping timeout: 121 seconds)

[13:49] {Threei}  your ISP barped

[13:53] {dptl} fly rimm fly

[13:54] {Threei}  Honda REPORTS FEB US VEHICLE SALES -35.4% Y/Y, AT 71,575 UNITS

[13:54] {dptl} offering 39 lol

06[13:54] * Threei slaps dptl around a bit with a large bottle of AntiGreedin

[13:55] {dptl} lol

[13:55] {Threei}  amazing how RIMM held above the stop level

[13:55] {Threei}  I am out in full

[13:55] {Threei}  .77

[13:55] {magoo} out .77 TY BOSS

[13:55] {Threei}  +.34

[13:55] {magoo} he he

[13:55] {Threei}  welcome mags

[13:56] {Threei}  ok... almost flat the day

[13:59] {Threei}  jeez... dp may get his 39

[13:59] {dptl} shhhhh

[13:59] {Threei}  what shhh, I am trying to jinx it

[13:59] {dptl} ok 

[13:59] {Threei}  how can I jinx it if you shush me

[13:59] {dptl} lol

[13:59] {Threei}  :)

[14:01] {dptl} .74 stop

[14:02] {magoo} vad..i know u thought..but now what for mkt here?

[14:02] {Threei}  well... market weants to stage a strong close but you do know that as soon as it becomes a real threat president will go back on TV, right?

[14:03] {magoo} right

[14:04] {Threei}  lol, took me 2/3 of the day to get back in the saddle

[14:04] {nemo} What are you riding, a CLydsedale?

[14:05] {Threei}  ok dp, have nercy

[14:05] {Threei}  you are up 50 cents

[14:05] {Threei}  you really willing to risk it for the last 5?

[14:05] {nemo} rootin for ya' dp

[14:06] {cujo} gs ready to break 82?

[14:06] {Threei}  I'd rather try to get it on pullback

[14:06] {Threei}  GS is not really a breakout stock

[14:06] {cujo} got ya

[14:07] {Threei}  on pullbacks though it works much better

[14:08] {Threei}  YESSS!!!!

[14:08] {Threei}  president on TV

[14:08] {Threei}  third time today

[14:08] {Threei}  told ya

[14:09] {magoo} what station?

[14:09] {Threei}  CNN

[14:10] {Threei}  anyone ever seen anything like this?

[14:10] {nemo} Madonna

[14:10] {Threei}  I mean, I am here fairly recently... it's just my third president

[14:11] {nemo} Billy liked the limelight, not like this

[14:11] {buyemsellem} I've heard when Grover Cleveland used to go on television the same thing would happen

[14:11] {cujo} http://obamaclock.org/

[14:11] {Threei}  but, did ihe do it every day, and a few times on some days?

[14:11] {dino}   egomaniac

[14:11] {cujo} some late day humor

[14:16] {dptl} he he...out rimm ty

[14:16] {magoo} nice dp

06[14:17] * nemo hands dptl a nice roll of cash

[14:18] {dino} sm l deck .70

[14:19] {ese} have a great day see you tomorow

[14:20] {Threei}  take care ese

[14:20] {Threei}  and you dp... I don't even know what slap with

[14:25] {Threei}  ok... let's hope there is no 4th speech

[14:26] {magoo} Q read vad?

[14:27] {Threei}  upward move is not over yet

[14:27] {Threei}  pullbacks are for buying

[14:27] {Threei}  RIMM if pulls back into .90

[14:28] {dptl} dold ya vodka the best drink....not some kind of antigreedin...lol

[14:28] {Threei}  true... hard to argue with fact :)

[14:31] {Threei}  wow... things bounce from above the support levels... been quite a while since we saw that

[14:34] {Threei}  next leg up is about to begin

[14:34] {magoo} you are great at reading legs vad

[14:35] {Threei}  only when we get a trend

[14:35] {Threei}  no legs in a swamp, mind you

[14:36] {KSystems} Today an important national archive building collapsed in germany

[14:36] {Threei}  wow... what happened?

[14:36] {KSystems} i bet "they" did it intentionally.

[14:37] {KSystems} tomorrow they'll say "democracy? where, in germany? never! proove it!"

[14:37] {nemo} which archive

[14:37] {KSystems} in cologne

[14:37] {KSystems} they dont know why

[14:37] {Onix} short sqeeze?

[14:37] {nemo} Not close to the river?

[14:39] {KSystems} no

[14:40] {KSystems} http://edition.cnn.com/2009/WORLD/europe/03/03/germany.cologne.building.collapse/index.html

[14:41] {Threei}  feels like one more little spike, then much deeper pullback than a few last ones is coming

[14:42] {Threei}  here is spike... pullback time now

[14:43] {Threei}  BAC

[14:43] {Threei}  S&P CUTS RATINGS

[14:43] {magoo} i  am in AWWWWW

[14:43] {Threei}  and here is deep pullback starting

[14:43] {magoo} TY

[14:44] {magoo} was in GS..u called pullbk..i exited .94

[14:45] {Threei}  little bounce now and another sharp leg down

[14:48] {dino} gxdx

[14:49] {magoo} vad..rep barney frank called and asked for your phone number..sounded p#ssed

[14:49] {nemo} that might not be why he wants Vads number

[14:49] {Threei}  oh boy

[14:49] {Threei}  rofl

[14:49] {cujo} ha ha ha

[14:49] {cujo} he saw pic on realitytrader.com

[14:49] {nemo} sorry...it was just sittin' there

[14:50] {Threei}  no read here... so far market did everything as told

[14:50] {Threei}  every spike and pullback

[14:50] {buyemsellem} i thought you were predicting? so you're telling it what to do...

[14:51] {Threei}  hehe

[14:51] {magoo} ok..i just got fat for day...so we need a few but no misses

[14:51] {magoo} flat lol

[14:51] {Threei}  too late magoo

[14:51] {Threei}  that image is too vivid

[14:51] {Threei}  magoo getting fat for the day

[14:52] {dino} more like for life

[14:53] {Threei}  STT played step in step with every spike and pullback

[14:54] {cosmo} sounds like magoo had a good day...

[14:54] {Threei}  fattening at least

[14:54] {magoo} nah...was down allday until now

[14:54] {magoo} stressuing

[14:55] {Threei}  one more spike now

[14:55] {Threei}  not big

[14:55] {magoo} im working on a new theory here for us...but not convinced to share yet

[14:55] {Threei}  then no read again

[14:56] {Threei}  US TREASURY AND FED EVALUATING A SPECIAL TREASURY FINANCING TO ASSIST FED IN ITS MANGEMENT OF BALANCE SHEET; FED MAY ISSUE OWN DEBT - UNCONFIRMED REPORT

[14:56] {Threei}  {SPY TLT}

[14:56] {nemo} heard that a couple of months ago

[14:58] {Threei}  is life back in LVS or just a one day wonder...

[14:58] {dino} ok, only 159 to go

[14:58] {Threei}  news earlier:

[14:58] {Threei}  CEO: SALE OF TWO MACAU RETAIL MALLS IS POSSIBLE WITHIN NEXT TWO MONTHS, ROOM OCCUPANCY IN VEGAS AT PALAZZO, VENETIAN ARE OVER 90%

[14:58] {Threei}  - Expects a combination of cost cuts, mall sales and rising business in Macau to prevent LVS from violating loan covenants.

[14:58] {Threei}  - Sees shaving an additional $200-250M from annual operating expenses

[15:00] {buyemsellem} occupancy or vacancy?

[15:00] {buyemsellem} that doesn't sound so bad

[15:01] {buyemsellem} did they go to $50/night for presidential suite?/

[15:01] {cujo} just looked at about 230/night

[15:04] {Threei}  let's keep an eye on UAUA folks

[15:04] {Threei}  almost a buck bounce with this market move

[15:05] {Threei}  lousy 60 =- 80 points DJI translate into quite sizeable move on this one

[15:05] {Threei}  feels coiled

[15:06] {Threei}  if we get anything decent, like +200-300 day, should hit 5 easily

[15:08] {dino} 2-3 bounce 3-4 sell

[15:11] {Threei}  REPORTEDLY US INDIVIDUAL AND COMPANY BANKRUPTCY FILINGS ROSE 37% Y/Y TO 103K IN FEB

[15:12] {magoo} very dissappointing if mkt fizzles out AGAIN

[15:12] {Threei}  RIMM is back into sdupport

[15:12] {nemo} that's what it's been doing the last hour

[15:14] {dino} yes

[15:18] {Threei}  feels like drop is done

[15:18] {Threei}  one more little pullback, then leg up

[15:18] {Threei}  nothing huge but still

[15:18] {Threei}  watch RIMM to define support,

[15:18] {Threei}  then .50 break is long

[15:18] {magoo} AAPL here?

[15:19] {Threei}  AAPL, I'd prefer pullback to .50

[15:19] {Threei}  here it, market strength is for entry now

[15:20] {nemo} for aapl or rimm

[15:20] {Threei}  both

[15:20] {Threei}  AAPL did exactly what told

[15:20] {Threei}  RIMM still needs to break

[15:20] {nemo} above .50?

[15:20] {cosmo} uaua?

[15:21] {Threei}  UAUA , too close to eod for it... rather slow one, unless we get strong market move

[15:22] {cosmo} k

[15:22] {Threei}  STT

[15:22] {Threei}  PRICES $1.5B IN 3-YEAR FDIC-BACKED NOTES AT 88 BPS/TREASURIES

[15:22] {Threei}  RIMM, aggressive entry for double bottom is probably better idea

[15:22] {nemo} owww

[15:23] {dino} sell the opening gaps up, buy at 2:00 and sell at 3:00

[15:23] {Threei}  GM

[15:23] {Threei}  BONDHOLDERS TO MEET WITH OBAMA AUTO TASK FORCE ON THURSDAY -CNBC

[15:24] {Threei}  in .18

[15:24] {Threei}  stop under .10

[15:24] {cujo} which stock?

[15:25] {Threei}  RIMM was on watch

[15:25] {dino} let me guess, preferred wiped out and bonds wiped out, govt debt on gm to common at 49%. its like they are slowing taking over the country

[15:25] {cujo} got it.  thanks. 

[15:26] {Threei}  no worky

[15:26] {Threei}  looks like this GM headline was percieved exactly this way dino

[15:27] {Threei}  and sent market down screaming

[15:27] {Threei}  shaekout... grr

[15:28] {dino} wouldn't surprise me, the administration hates investors and speculators

[15:28] {Threei}  yeah, any wonder that market goes down ever since they took power

[15:28] {nemo} Obama is strongly socialist

[15:29] {cosmo} Mutual of Obama...

[15:29] {dino} yes, tricked most during campaign, said he was center like clinton

[15:30] {dino} neg. close will be 13 of last 14 days

[15:31] {Threei}  quite a record

[15:31] {dino} last positive month was aug '08

[15:31] {cosmo} time to buy then

[15:33] {dino} you would think so

[15:33] {cosmo} foreclosures will be getting scarce....

[15:35] {Threei}  REMINDER: A NUMBER OF S&P INDEX CHANGES GO INTO EFFECT AFTER THE CLOSE TODAY

[15:35] {Threei}  - HRL and VTR entering the S&P 500 replacing ACAS and JNY

[15:35] {Threei}  - ACM, LII, and TRMK will be added to the S&P MidCap 400 Index

[15:35] {Threei}  - CPSI, SCOR, and SXE wil be added to the S&P Smallcap 600 Index

[15:35] {Threei}  bands tightened greatly

[15:35] {Threei}  sharp move is coming

[15:38] {Threei}  now we know direction too, lol

[15:41] {cosmo} UAUA going into the Hudson

[15:41] {Threei}  just moves with market

[15:42] {dino} uaua pricing like an option

[15:42] {dino} as is drys

[15:43] {dino} traffic down 11% airlines

[15:44] {Threei}  CHRYSLER LLC REPORTS FEB US SALES -44%, TO 84K UNITS

[15:44] {Threei}  - says $1.5B TARP loan has begin to provide some traction to retail sales results.

[15:44] {Threei}  - reports 100 day supply of inventory.

[15:45] {Threei}  well, move fizzled out today

[15:45] {Threei}  but heck... market showed a lot of resilience in the face of 3 (three) speches

[15:45] {Threei}  plus Ben and Tim

[15:46] {magoo} today???? fizzles out 13 of 14

[15:46] {Threei}  not every day out of those market even tried to move

[15:46] {Threei}  actually... just one, lol

[15:49] {Threei}  COMPX is green

[15:49] {Threei}  barely

[15:50] {Threei}  DJI is -35 which by today's standard is pretty much flat

[15:53] {dino} don't want a green close, only allowed one/week

[15:54] {Threei}  it's a shame to waste it on such miserish gain

[15:54] {cosmo} PDLI wont die

[15:54] {dino} thats what i'm talking about

[15:54] {dino} would rather 5 in a row down

[15:54] {Threei}  see how UAUA obeys the market?

[15:55] {Threei}  definitely candidate for the day when we get that thing

[15:55] {Threei}  what do you call it

[15:55] {Threei}  ummm

[15:55] {Threei}  you know... when the market goes up

[15:55] {cosmo} mo

[15:56] {Threei}  dp got his 55 cents gain and left... how not compradish by him

[15:56] {Threei}  cmradish

[15:56] {Threei}  whatever

[15:59] {Threei}  Dow heard you dino

[15:59] {Threei}  returned in red

[15:59] {dino} out deck .55 -.15

[15:59] {dino} stupid, had .50 on it

[16:00] {Threei}  okay guys

[16:00] {Threei}  day full of nothingness

[16:00] {cujo} crazy times.

[16:00] {Threei}  indeed

[16:00] {Threei}  have a good evening, see you tomorrow

[16:00] {vint} what a day, bye all

[16:01] {nemo} tschuss

[16:01] {dino} as they say "darkness lies an inch ahead"

[16:01] {dptl} have a good evening all

[16:01] {nemo} or, is that light at the end of the tunnel, or an oncoming train

[16:02] {dino} new lows s/p, dji

[16:02] {dino} that works too nemo

[16:03] {Threei}  wow

[16:03] {Threei}  what happened?

[16:03] {cujo} what do you mean?

[16:03] {magoo} huh??

[16:03] {dino} ?

[16:04] {Threei}  sharp dive after close

[16:04] {magoo} the usual

[16:04] {Threei}  ah

[16:04] {Threei}  okay then

[16:05] {dino} -10% dji one week, -11% s/p one week, -9% ndx one week....impressive

[16:05] {magoo} this is bad vad..the mkts cant holdd green and christ we are at 6700

[16:05] {Threei}  quite a selloff

[16:06] {Threei}  actually mags, it's worse than it looks

[16:06] {Threei}  look at it this way:

[16:06] {dino} -13% area was last time we had the "big" bounce 02/24/09

[16:06] {dino} fwiw

[16:06] {Threei}  DOW is in the middle between 1930 low and absolute high,

[16:06] {Threei}  which seems to be 50% retracement

[16:06] {dino} that too, had 5 down days in a row, as this

[16:06] {Threei}  but in fact it's much worse

[16:07] {Threei}  first, it's unadjusted for inflation,

[16:07] {Threei}  and second, index gets readjusted periodically,

[16:07] {Threei}  weeding out week stock and adding stroneger, so its performance is distorted to the upside

[16:08] {Threei}  week = weak

[16:09] {magoo} to afraid to short..but it never goes up...never

[16:09] {Threei}  nope

[16:09] {Threei}  until it does

[16:09] {Threei}  then it never goes back down

[16:09] {dino} wow mcd did not hold much, was up 1.50

[16:09] {buyemsellem} until it does

[16:09] {Threei}  right

[16:10] {dino} in the end there can be only one

With market being in such misery, can't complain about 5 winning calls out of 7. CAT short becomes almost permanent fixture of each trading session; RIMM played nicely on both sides, long and short; AAPL long and even CAT long for a scalp polished things off. 

Session Time: Mon Mar 02 00:00:01 2009

[08:32] {dino} gm all

[08:32] {nemo} Happy Monday!

[08:32] {nemo} Yeah, right.

[08:33] {Threei}  Good morning

[08:33] {nemo} you too

[08:33] {Threei}  just youro normal garden variety end of the world

[08:33] {nemo} New world starts tomorrow...can't wait!

[08:34] {nemo} Actually, the futures look a lot better than they did last night

[08:46] {Threei}  US OFFICIAL: PURPOSE OF AID TO AIG IS TO STABILIZE AND REDUCE THE SIZE OF THE COMPANY; AIG STILL POSES A SYSTEMIC RISK

[08:46] {Threei}  - Notes that taxpayers' exposure to AIG is now $163B, will respond with new plans as the facts on the ground change.

[08:46] {Threei}  - There are "few strings" attached on how AIG should use the $30B in fresh funding

[08:47] {Threei}  now, this is real way out of the mess:

[08:47] {Threei}  US SAVINGS RATE JUMPED 5% TO ITS HIGHEST LEVEL SINCE 1995

[08:47] {Threei}  - Savings jumped to an annual rate of $545.5B, the highest level since monthly records began in 1959.

[08:47] {Threei}  - The savings rate surged 5% in January, the biggest advance since March 1995, as households uncertain about the economy prefer to conserve their cash.

[08:48] {cosmo} long live the consumer...

[08:49] {Threei}  *JAN PERSONAL INCOME: 0.4% V -0.2%E; PERSONAL SPENDING: 0.6% V 0.4%E

[08:49] {Threei}  **First rise in spending in seven months

[08:49] {Threei}  Jan personal saving rate rose by 5% largest increase since 1995

[08:50] {Threei}  (RU) REPORTEDLY RUSSIA HAS PROPOSED A JOINT IRANIAN-RUSSIAN OIL EXCHANGE

[08:50] {Threei}  - Iran may sell some oil on St. Peterburg exchange

[08:51] {Threei}  BALTIC DRY BULK INDEX +1.4%, A SECOND STRAIGHT ADVANCE

[08:56] {cosmo} ATPG:  ....# ATP Oil & Gas Earnings Call scheduled for 4:00 pm ET todayCCBN(Mon 7:35am)

[08:57] {cosmo} GE Energy Financial Services partners with ATPAP(Fri, Feb 27

[08:57] {dino} what is funny about the savings 3i, is that stocks are not counted. so realistically, as stocks dropped 50%, real estate down big (most americans biggest asset) these "savers" are worth much less (pensions, mutual funds, stocks, real estate). it is the same on the other side when savings go down, stocks and real estate are not counted. so, just careful for what you wish, as "net worth" is much lower

[08:58] {cosmo} yea.... 50% no big deal anymore...

[08:59] {dino} well, it's a gov't" statistic, they leave out real estate and stocks

[08:59] {Threei}  well, if they leave it out on both sides, it's still indicating something

[09:00] {cosmo} deile?

[09:00] {cosmo} denile

[09:00] {Threei}  third time should do it :)

[09:00] {dino} i think its a bogus indicator in either case. they want bank savings, not investment

[09:00] {cosmo} denial?

[09:00] {Threei}  there!

[09:00] {dino} oh, the river in egypt

[09:01] {cosmo} what river...

[09:01] {dino} turnaround tuesday coming again imo

[09:01] {dino} de nile

[09:02] {Threei}  we have Terrific Tim speaking this week, right?

[09:07] {Threei}  Tu 10 am, testifying before House Committee

[09:07] {Threei}  Thu

[09:09] {geo} gm all

[09:09] {Threei}  isn't it ironic that speaking of bounce or watever, many still use term "Obama rally"

[09:09] {Threei}  geo :)

[09:10] {buyemsellem} gm

[09:10] {Threei}  since he took office market did nothing but go down

[09:10] {Threei}  buyem :)

[09:10] {Threei}  so, eithere it is obama rally,

[09:10] {Threei}  or real rally will be more of "despite" rather than "thanks to"

[09:11] {cujo} morning. 

[09:12] {Threei}  cujo :)

[09:12] {nemo} Maybe it's the Obama anti-rally

[09:13] {nemo} mornin' mags, cujo

[09:14] {cosmo} or the obama QID 'ally

[09:14] {magoo} kjaslkiaskhcakusga

[09:14] {fernp} Hello everybody

[09:14] {Threei}  very eloquent

[09:14] {Threei}  magoo, fern :)

[09:14] {magoo} morning playbk vad?running late here

[09:14] {nemo} I sprained my tongue trying to say that

[09:15] {Threei}  nothing constructive mags

[09:15] {magoo} last mon went basically straight down allday..ended like 240 down

[09:16] {dptl} good morning all

[09:16] {Threei}  dp :)

[09:18] {Threei}  as tempting as it is to use last Monday as indicator for this one, it's not really valid one :)

[09:18] {magoo} i understand

[09:19] {Threei}  foreign market performed terribly

[09:19] {magoo} art on cnbc sad..worrying about trap door crash here

[09:20] {cosmo} hmmmm....could be turn around monday....

[09:20] {Threei}  trap door crash?

[09:20] {nemo} bottom falls out

[09:20] {cosmo} it did...

[09:20] {nemo} market dysentary

[09:20] {magoo} yeah...his words...lose last 1980 support level and trap door opens

[09:21] {magoo} crash

[09:21] {Threei}  GM CHAIRMAN LUTZ: THIS IS THE WORST DEMAND CYCLE SINCE WORLD WAR II, CALLS ON GOVERNMENTS WORLDWIDE TO ACT - INTERVIEW

[09:21] {cujo} -300

[09:21] {Threei}  act how? buy GM vehicles?

[09:22] {magoo} we should keep eye on qid vad

[09:22] {Threei}  market does look crashing today... the only concern is, this is what everyone and their grandmother think

[09:25] {cosmo} ICTG

[09:26] {cosmo} ICT Group: Aegis proposes cash acquisition of ICT Group at $8.00/shareBriefing.com(Mon 8:54am)

[09:26] {cosmo} ictg still needs 7 ....

[09:27] {Threei}  how about poor soul who bought 13.55?

[09:27] {Threei}  can't read?

[09:27] {Threei}  let's sit out the opening

[09:28] {Threei}  Mondays are often start out in hangover

[09:28] {Threei}  starting

[09:28] {nemo} mmmmhhh...that's the way most mornings start

[09:28] {geo} fred mac ceo resigns

[09:29] {Onix} gm all

[09:29] {Threei}  onix :)

[09:29] {vint} good morning all

[09:29] {Threei}  vint :)

[09:30] {geo} gow opens below 7k

[09:30] {geo} heh dow

[09:30] {Threei}  both

[09:30] {Threei}  watching CAT

[09:31] {Threei}  would like to see some consolidation, then break of 24 for short

[09:32] {Threei}  not bouncing much

[09:32] {Threei}  24.15 so far resistance to stay under

[09:32] {Threei} Short Setup: CAT  24 break if stays under 24.15

[09:33] {magoo} ion

[09:33] {nemo} in

[09:33] {cujo} in 

[09:33] {Threei}  under 1:1 cover half

[09:33] {magoo} that too

[09:33] {Threei}  .82 half out

[09:34] {cujo} 1/2 out .85

[09:34] {Threei}  stop to 24.05

[09:34] {Threei}  looking to cover 1/4 more closer to .50 - .60

[09:35] {Threei}  and see if we can get new 52 week lows on the last portion

[09:35] {magoo} out .73 NICE vad.

[09:35] {magoo} easy button

[09:35] {dino} gj

[09:35] {Threei}  welcome

[09:36] {Threei}  what's with jumoing

[09:36] {Threei}  jumping

[09:36] {cujo} good call

[09:36] {geo} out

[09:36] {Threei}  out 1/4 more .72

[09:37] {Threei}  missed that dive to .62

[09:37] {nemo} out .70

[09:38] {Threei}  okay... now we are talking

[09:38] {Threei}  new low

[09:38] {cujo} yeah i got stopped out on this one... 

[09:38] {cujo} but still made a little cash

[09:38] {ese} morning...gota stop sleeping in 

[09:38] {Threei}  ese :)

[09:39] {Threei}  do you use hard stops cujo?

[09:39] {cujo} yeah had a stop floating out there.

[09:39] {Threei}  grrr

[09:39] {Threei}  hate those

[09:39] {dptl} ty cat...+.24 +.41

[09:39] {Threei}  no way I'd exit into such sharp spike

[09:39] {Threei}  dp :)

[09:40] {magoo} cat might be good reload vad

[09:40] {Onix} ty Vad, got some in CAT

[09:40] {Threei}  :)

[09:41] {cosmo} STLD

[09:41] {Threei}  07:09am [STLD] Morgan Stanley Raised STLD to Overweight from Equal Weight, price target: $15

[09:42] {magoo} RIMM vad..bouncer?

[09:42] {Threei}  RIMM

[09:42] {Threei}  lol mags

[09:43] {magoo} in .86

[09:43] {Threei}  stop under .70

[09:44] {magoo} out here .23

[09:44] {magoo} TY 

[09:44] {cujo} nice trade mags

[09:44] {magoo} may have more but scalpin

[09:45] {dino} gj

[09:45] {magoo} gj=??

[09:46] {magoo} no prints on it

[09:47] {magoo} tough crowd..was a joke

[09:47] {cujo} in aapl .21 stop .91

[09:47] {dino} good job

[09:48] {cujo} out .52

[09:49] {Threei} Long Setup:  RIMM  .12 break half lot

[09:49] {Threei}  stop under .95

[09:49] {dino} pins and needles

[09:49] {nemo} too fast

[09:50] {geo} missed

[09:51] {Threei}  anyone got it, feel free to exit here

[09:51] {cujo} thanks

[09:51] {cujo} got a piece

[09:52] {Threei}  looking at CAT again, not much of a bounce

[09:52] {nemo} any dead cat jokes in there?

[09:52] {buyemsellem} or bouncing cat jokes

[09:52] {Threei}  don't see a clean setup yet, but keeping half eye on it

[09:53] {nemo} VW profit beats estimates

[09:53] {nemo} you've got three!

[09:53] {Threei}  it gave about 40 cents on a first setup, and looks very wek still

[09:54] {Threei}  weak too

[09:54] {nemo} If yo get a chance, Why does it look weak?

[09:54] {Threei}  ideall, for a second short on it we want to see it staying about here while market shows strength

[09:54] {Threei}  then breaking down with market reversal

[09:54] {nemo} ty

[09:55] {Threei}  because it stays close to low while market upticks

[09:55] {ese} who is VW vad

[09:55] {Threei}  DJI moved 50 points up

[09:55] {Threei}  Volkswagon?

[09:56] {nemo} yes

[09:56] {nemo} Net income rose 15 percent in 2008 to 4.75 billion euros ($6 billion), or 11.92 euros per basic ordinary share, from 4.12 billion euros, or 10.43 euros, the Wolfsburg, Germany-based carmaker said in a statement today. Revenue rose 4.5 percent to 113.8 billion euros. 

[09:57] {geo} in cat

[09:58] {cujo} ditto geo

[09:59] {geo} target vad?

[09:59] {Threei}  dropped into support a little too sharp for my taste guys... cover half to protect yourself from sudden snapback

[09:59] {cujo} got ya

[09:59] {geo} roger

[10:00] {Threei}  target is, ummm... with any market help, it won't even hold 23

[10:00] {geo} out

[10:00] {Threei}  *JAN CONSTRUCTION SPENDING M/M: -3.3% V -1.5%E

[10:00] {Threei}  *FEB ISM MANUFACTURING: 35.8 V 33.8E; PRICES PAID: 29 V 33.5E

[10:01] {Threei}  trail stop to above .50 for the balance

[10:02] {geo} sigh

[10:02] {Threei}  ?

[10:02] {geo} scalper regret

[10:02] {geo} all out in 30s

[10:02] {cujo} out .32, only had a small lot so couldn't partial out. 

[10:03] {geo} hehe cujo same here

[10:03] {cujo} :)

[10:03] {dino} rimm sm l .51

[10:03] {Threei}  if you intend to scalp, why ask me about target... and if you asked and got answer "under 23", why cover in full :)

[10:03] {geo} didnt have vad's weight bearing down on it so bailed

[10:04] {geo} (his 20k shares)

[10:04] {geo} wow cat

06[10:04] * geo bows to vad

[10:06] {ese} dino you have an opinion on MICC

[10:06] {Threei}  under 23

[10:06] {geo} ok the world going to 0

[10:06] {Threei}  of course it does

[10:07] {nemo} trap door is opening

[10:08] {geo} damn another day of going to work and having to deal with the 401k whiners

[10:08] {nemo} huh?

[10:08] {geo} lol

[10:09] {geo} have guys who complain every time market goes down

[10:09] {nemo} ohhhhhhhh

[10:09] {geo} i tell em i only go long

[10:09] {nemo} tell them don't worry...world is coming to an end anyway

[10:09] {geo} vad, cat basic weakness or news?

[10:10] {geo} V gettnig pounded too

[10:10] {Threei}  no news

[10:10] {Threei}  this is our short candidate on daily basis ever since it broke 30

[10:10] {geo} nice...... 

[10:10] {Threei}  original idea was:

[10:11] {Threei}  it was hyped by prez as a company benefitting from stimulus package, ready to start rehiring etc,

[10:11] {Threei}  and after simulus passing, it broke down anyway

[10:11] {Threei}  so, price-information divergence...

[10:11] {Threei}  have a look at it

[10:12] {dino}  micc, dk

[10:12] {geo} i thought most of their money is made in helping outsource stuff to china by building their factories

[10:12] {geo} and thats dead

[10:12] {geo} barely a few up days on daily

[10:13] {geo} i guess i should have been reading logs :(   {----geo lazy

[10:13] {nemo} dino, where was your stop on RIMM?

[10:13] {dino} micc, i like for bounce if market does

[10:14] {dino} wow 6890s

[10:15] {Threei}  you are not really surprized dino, are you

[10:15] {dino} rimm hard stop is .09 fwiw

[10:15] {dino} stopped

[10:15] {ese} L cedc .25 1/2

[10:16] {dino} nothing surprises me anymore

[10:16] {Threei}  we have normal end of the world day

[10:16] {Threei}  notice:

[10:16] {nemo} think it's too early to start drinking?

[10:16] {Threei}  both shorts on CAT were not scalps, while RIMM long gave scalping profit only

[10:16] {Threei}  tells you something?

[10:17] {nemo} yeah, kitchen sink day

[10:18] {cujo} l ED .01

[10:18] {Threei}  .85 srtop cujo?

[10:18] {nemo} the Q's aren't ready to test that 27.10 level

[10:18] {cujo} yes

[10:18] {cujo} have it at .83

[10:18] {cujo} small lot

[10:19] {ese} L  cbst .54 1/2

[10:20] {ese} eeeeeee.........chased it.......probably shouldn't have done that

[10:20] {geo} thanks for cedc ese

[10:20] {geo} got .1

[10:21] {ese} i'm gonna hang just a little longer and see what happens geo

[10:21] {Threei} Long Setup:  APPL  .80 break half lot

[10:22] {Threei}  stop under .65

[10:23] {Threei}  1:1

[10:23] {Threei}  and over

[10:23] {Threei}  out in full

[10:23] {Threei}  90.09

[10:23] {geo} nice vad

[10:23] {geo} all out .08

[10:23] {geo} TY

[10:23] {Threei}  taking esiest money on a long side for nowe, don't want to oversit them

[10:24] {buyemsellem} nice, thank you

[10:24] {Threei}  :0

[10:24] {cujo} ditto

[10:24] {dptl} +.17 aapl ty

[10:24] {Threei}  sheesh, what's with typing

[10:24] {Threei}  just when I think my typing ccan't be any worse

[10:24] {Threei}  it hits new low

[10:24] {Threei}  (just like market)

[10:25] {nemo} well, on the bright side...it can only get better

[10:25] {Threei}  that's what I thought, just before it got worse

[10:25] {nemo} Look...I'm trying to be an optimist for a couple of minutes...sheesh

[10:25] {Onix} ty Vad, grabbed some in AApl

[10:25] {cujo} ED just closed gap

[10:26] {Threei}  onix :)

[10:26] {Threei}  sorry nemo... no optimism allowed

[10:26] {Threei}  nor pessimisim

[10:26] {nemo} neutral observations

[10:26] {geo} CMI being killed too

[10:26] {Threei}  :)

[10:26] {Threei}  heh

[10:26] {Threei}  AIG

[10:26] {Threei}  CEO LIDDY: SITUATION IS DEPENDENT UPON WHAT OCCURS IN CAPITAL MARKETS IN SHORT TERM, WHETHER EQUITY CAN SUPPORT DEBT, CANNOT SAY 100% WHETHER WILL COME BACK TO US GOVT AGAIN - CNBC COMMENTS

[10:27] {magoo} out aapl

[10:27] {magoo} .09

[10:27] {magoo} TY vad

[10:27] {ese} out .cedc .60 

[10:27] {ese} uncomfororable with it

[10:27] {Threei}  welcome mags

[10:27] {ese} +.-6

[10:27] {Threei}  4 for 4 so far

[10:27] {ese} .06

[10:27] {dino} vz sm l .00

[10:28] {Threei}  or, 3 1/2 for 3 1/2, last CAT short was rather idea than a firm call

[10:28] {cujo} ED out 1:1

[10:28] {ese} sory out CBST not cedc

[10:28] {Threei}  good trading this morning guys

[10:28] {ese} too many c's

[10:29] {Onix} yes, thanks to you there Vad :D

[10:29] {Threei}  well, I refered to those trades that folks took without me

[10:29] {Threei}  but I appreciate the sentiment nonetheless {G}

[10:29] {geo} rumor people selling gold to meet margin calls today

[10:29] {Onix} :/

[10:30] {Threei}  I don't think I've ever seen a trading vehicle so rich in rumors and speculations department as gold

[10:30] {geo} :)

[10:31] {cujo} the whole inflation adjusted value thing always pops up sooner or later with gold..

[10:31] {Threei}  endless "chinese are buying gold, IMF is dumping gold, pjilippines are buying due to marriage season" etc

[10:31] {ese} out CEDC also .31 =}06

[10:31] {Threei}  last one is one favorite :)

[10:31] {buyemsellem} which is interesting because you don't have things like management, FDC approvals, etc.

[10:32] {geo} i have some spreads on.... cant bring my self to buy em outright

[10:34] {Threei} Short Setup: RIMM  38 break half lot

[10:34] {Threei}  stop above .10

[10:38] {Threei}  UPDATE: USTR -OBAMA SEEKING TO GET CONGRESSIONAL APPROVAL FOR NEW PANAMA TRADE ACCORD

[10:39] {geo} hmm rare healthcare up

[10:39] {geo} BAX

[10:39] {Threei}  RIMM over 1:1

[10:40] {cujo} great Call Vad

[10:40] {buyemsellem} another good one

[10:40] {Threei}  lol, JPM

[10:40] {Threei}  HEARING JP MORGAN ANALYST SAYS CHK IS FAVORITE E&P STOCK AT THESE LEVELS (TIMING UNCERTAIN)

[10:40] {Threei}  something's wrong with their taste eh

[10:40] {Threei}  CHK chart is beyond ugly

[10:41] {Threei}  not sure its mother could love it

[10:41] {Threei}  RIMM{ cover in full if held

[10:41] {geo} all out .65

[10:41] {geo} lovely vad

06[10:41] * Threei slaps geo around a bit with a large roll of cash

[10:41] {Threei}  don't call me lovely

[10:41] {geo} :)

[10:42] {cujo} way to hold patience

[10:42] {dino} nice 3i

[10:42] {nemo} beauty vad

[10:42] {Threei}  not unless you have a proof you are female

[10:42] {geo} only had 3rd left

[10:42] {Onix} ty Vad, got some in RIMM :)

[10:42] {Threei}  welcome guys

[10:42] {Threei}  CAT stopped making new lows with market

[10:43] {Threei}  not ready to try long on it but observing

[10:43] {buyemsellem} interesting

[10:43] {pita} gm all, ty Vad Rimm

[10:43] {Threei}  retreated a bit too far from 23, obvious resistance to break

[10:43] {Threei}  pita :)

[10:44] {Threei}  ideally,

[10:44] {Threei}  if CAT consolidates closer to 23 for a while, not losing support of a nice tight range while market drops,

[10:44] {Threei}  and then breaks 23 with market bounce,

[10:45] {Threei}  that would be our long trigger

[10:45] {geo} in bax

[10:45] {Threei}  but don't go for it if it just breaks now

[10:45] {Threei}  let it form pronounced range

[10:46] {Threei}  CAT hasn't show worthy strength in ages, I prefer to miss the play on it rather than go for so-so setup

[10:47] {dino} \micc sm l .45

[10:47] {geo} heh market rinsed and WHR up

[10:48] {geo} tough crowd

[10:48] {Threei}  WHR from Fri after martket:

[10:48] {Threei}  Reaffirms forecast for FY09 EPS (cont ops) $3.00-4.00 v $3.09e, as issued on 2/9

[10:49] {nemo} Interesting, white goods manufacture reaffirming profits

[10:49] {Threei}  people do need their jakkuzzis, recession or not, right?

[10:49] {geo} rinse = whirpool washing get it?

[10:49] {nemo} cute

[10:49] {dino} rimm sm l .70

[10:49] {geo} sheesh

[10:49] {Threei}  ah come on geo... that's too deep for us

[10:49] {geo} sniff

[10:50] {Threei}  you really forgot during your winter break, didn't you

[10:50] {Threei}  tree good, fire bad

[10:50] {geo} heheheh

[10:50] {geo} true true

[10:50] {Threei}  keep at this level, and we will understand you

[10:51] {Threei}  OK, so far CAT is trying to do what it can

[10:51] {geo} anyone took bax? paying well

[10:51] {Threei}  let's designate .85 - .90 as support to hold

[10:51] {Threei}  and if market against all expectations strenghtens, 23 break will be worth a try

[10:54] {geo} man ABX just whipped

[11:00] {dino} the usual -3% hitting s/p, dji

[11:00] {Threei}  well kitty

[11:00] {Threei}  let's see if you can bounce

[11:04] {magoo} in

[11:04] {dino} mtxx straight down fast

[11:06] {dptl} stop under .88 cat?

[11:06] {Threei}  .85 for a day rade, .89 for hardcore scalpers

[11:06] {dptl} ok ty

[11:07] {Threei}  market weakens more

[11:08] {Threei}  doesn't feel like flush is coming though

[11:08] {cujo} but it is lunch....

[11:08] {Threei}  yeah

[11:09] {nemo} It's only 11

[11:10] {Threei}  CAT is willing... just needs a little help

[11:12] {wulff} catnip...

[11:12] {Threei}  in case market flushes down,

[11:12] {Threei} Short Setup: RIMM  .50 break half lot if stays below .65

[11:14] {Threei}  feels to me though as snapback is coming

[11:15] {Threei}  RIMM is invalidated obviously

[11:15] {magoo} TY AAPL vad

[11:15] {magoo} [11:14] {&Threei}  feels to me though as snapback is coming

[11:15] {Threei}  lol

[11:15] {magoo} hit aapl .80 off that...out .08

[11:15] {Threei}  derivative play eh?

[11:16] {magoo} aapl trong today

[11:16] {magoo} wants up

[11:16] {Threei}  nice spike AAPl

[11:17] {Threei}  you've chosen wisely mags

[11:17] {nemo} is that a quote Vad?

[11:17] {Threei}  wise magoo... anyone's shuddering of this image?

[11:17] {magoo} blushing

[11:18] {geo} why do i feel vad is going to regret this statement forever

[11:18] {Threei}  yes nemo but I can't remember the source

[11:18] {Threei}  lol geo

[11:18] {Threei}  I'll retract it quickly, no worry

[11:18] {nemo} Indiana Jones and the search for the Holy Grail

[11:18] {Threei}  yes, ty, remember now :)

[11:19] {dino} lol

[11:20] {geo} cat not too responsive

[11:20] {nemo} Visualizing Vad dressed as a Templar Knight

[11:20] {Threei}  here is my snapback

[11:20] {Threei}  my retina burns nemo

[11:21] {geo} your retina burns?????????

[11:21] {Threei}  CAT stop to .89 for everyone at this point

[11:21] {nemo} that detail would have sucked how many hundreds of years and no vodka!

[11:22] {Threei}  here kitty kitty kitty

[11:22] {magoo} exit ?

[11:22] {geo} if this wasnt trading it would be gross

[11:22] {Threei}  half or scalp on .10 break

[11:22] {geo} [08:22] {&Threei}  here kitty kitty kitty

[11:23] {Threei}  if uncomfortable, just scratch it for a profit not worth mentioning

[11:23] {Threei}  with morning profits, I feel fine risking 11-12 cents

[11:24] {geo} true that.... the cushion makes it easy to sit in trade

[11:25] {Threei}  eqzaktly

[11:26] {Threei}  as tempting as it is to take tiny profit and be able to claim 100% day, I recognize that it's just ego talking

[11:26] {nemo} Mmmmmhhhh...I thought they were demons

[11:27] {nemo} in my head, I mean

[11:27] {geo} flush?

[11:28] {Threei}  stopped CAT

[11:28] {geo} sigh

[11:28] {geo} better to have loved and lost

[11:28] {nemo} short below .80 to test low?

[11:28] {dptl} stopped cat

[11:28] {Threei}  not into sharp selling

[11:29] {nemo} too much volume on this drop?

[11:29] {Threei}  sharp price dive

[11:29] {Threei}  we don't chase those

[11:30] {wulff} short RIMM ?

[11:30] {Threei}  FED'S ROSENGREN: TROUBLED ASSETS SHOULD BE MOVED OFF BANK BALANCE SHEETS

[11:31] {Threei}  need some consolidation first wulff

[11:31] {nemo} Isn't that how we got in the mess in the first place?

[11:31] {Threei}  without it, it's just aimless wadnering up and down

[11:31] {wulff} like my account

[11:32] {geo} wow

[11:32] {geo} we have a dawg and a wulff

[11:32] {Threei}  and cujo

[11:32] {cujo} yup :) grrrr

[11:32] {nemo} send them after the cat!

[11:32] {geo} whats a cujo?

[11:32] {cujo} a rabid dog

[11:32] {nemo} Saint Bernard

[11:32] {geo} ahh

[11:33] {dino}  nmcd wants green

[11:33] {geo} nmcd?

[11:33] {cujo} mcd

[11:34] {cujo} sry wrong window

[11:39] {cujo} 95 pts and counting...

[11:40] {Threei}  95?

[11:40] {Threei}  on what?

[11:40] {Threei}  DJI is -211

[11:40] {cujo} was 205, just waiting for that 300

[11:40] {Threei}  ah

[11:40] {Threei}  countdown :)

[11:40] {nemo} Larisa's missing this

[11:41] {dino} vacation

[11:41] {Threei}  I bet she is so not

[11:41] {cujo} {cujo} -300

[11:41] {nemo} tongue in cheek

[11:42] {wulff} AAPL only + on my list

[11:43] {buyemsellem} yeah, that and anything inverse

[11:44] {buyemsellem} oh, don't forget VIX

[11:44] {Threei}  where is VIX?

[11:44] {geo} yeah BAX WHR all coming down

[11:44] {nemo} Appl forming an inverted C&H

[11:44] {geo} 51

[11:44] {buyemsellem} 51.04, +4.69 or +10.12%

[11:45] {Threei}  a bit up but way off Nov highs

[11:45] {buyemsellem} yup

[11:45] {Threei}  look at DRYS

[11:46] {nemo} Got a magnifying glass?

[11:46] {geo} all wet thats DRYS

[11:46] {Threei}  lol

[11:46] {Threei}  some amazing prices out there

[11:47] {Threei}  look at UAUA

[11:47] {nemo} damn shoulda shorted aapl

[11:47] {buyemsellem} red aapl

[11:47] {cujo} DOW in the green

[11:48] {cujo} the stock not the index

[11:48] {nemo} worm in it

[11:49] {geo} yup problem with value investing now is no one knows whats vale anymor

[11:49] {geo} ask bill miller

[11:49] {Threei}  or Buffet

[11:49] {geo} true

[11:50] {geo} poor guy beat sp 15 years in row ....now 10 yeal return below sp

[11:50] {geo} correction i dont think he is poor

[11:51] {pita} RIMM sinking

[11:52] {Threei}  yeah... I thought of conservative short entry when it bounced back into .50 after breakdown... hwesitated

[11:52] {Threei}  too bad

[11:53] {pita} 2020 hindsight

[11:53] {dino} fdo, dtlr, apol, athn, rate, cedc, only watchers up

[11:53] {geo} me short celg and esrx

[11:54] {magoo} gettin ugly now

[11:54] {Threei}  now??

[11:54] {Threei}  lol

[11:56] {geo} hey vad

[11:56] {geo} chaer on vacation?

[11:56] {Threei}  let me e-mail him

[11:56] {Threei}  he popped up for a minute last week

[11:57] {geo} magoo dcc pls

[12:00] {Threei}  what kind of stupid comment is this:

[12:00] {Threei}  FSLR

[12:00] {Threei}  HEARING SOME RECENT WEAKNESS BEING ATTRIBUTED TO VAGUE CHATTER THE CO. CANCELED OUT CONFERENCE IN CA

[12:00] {Threei}  as if in this climate some parricular reason is needed for a stock weakness

[12:01] {dino} had nothing to do with forecast, lol

[12:01] {Threei}  yeah

[12:01] {Threei}  if they were still coming to that conference, stock surely be up, right?

[12:02] {Threei}  oh well

[12:02] {Threei}  I am not holding my breath for the day when market comments will be done by someone who actually made a dime trading

[12:13] {Threei}  my question of the day: are we getting the speech and at what time?

[12:13] {cujo} CAT right by new lows...

[12:13] {nemo} Cat coming into the lows, are we looking at another short

[12:13] {Threei}  it formed inverted cup

[12:14] {Threei}  if adds handle, yes

[12:14] {cujo} ss .53, jumped gun

[12:14] {nemo} look at friday chart, I think this is the handle?

[12:15] {Threei}  I am talking about intraday

[12:15] {nemo} I was just going to say, there I go thinking again.

[12:15] {Threei}  yeah... as if you don;t know better

[12:15] {nemo} Did that feel good?

[12:16] {Threei}  kicking thy neighbor? always?

[12:16] {Threei}  I mean, always

[12:16] {nemo} in perpetuity?

[12:18] {dptl} so? cat?

[12:19] {Threei}  I don't know dp

[12:20] {Threei}  no confident read

[12:20] {Threei}  to me, this is right setup at the wrong time

[12:20] {Threei}  I like this kind of chart formations, I just avoid playing them at this time of the day

[12:20] {dptl} ok ty

[12:21] {dino} pressure building, big move in the making

[12:22] {dino} cedc filling open gap

[12:24] {Threei}  I am so tempted by STT long...

[12:24] {cujo} doh! stopped. -.09

[12:25] {Threei}  sigh... hesitated again, lol

[12:25] {Threei}  going for a smoke

[12:25] {dptl} me too

[12:27] {magoo} AAPL the key today

[12:28] {magoo} very indicative

[12:33] {dino}  cedc sm l .75

[12:34] {dino} giddy-up

[12:35] {Threei}  REPORTEDLY ECB IS PUTTING TOGETHER AN ASSET PURCHASE PLAN SIMILAR TO BOE, FED PROGRAMS - UNCONFIRMED REPORT CITING ECB SOURCES

[12:35] {Threei}  - Under the emerging ECB plan, national central banks could buy short-term corporate paper or securities.

[12:35] {Threei}  - 50bps refi rate cut is most likely outcome at Thursday's ECB policy meeting.

[12:36] {cujo} that c&h forming CAT Vad?

[12:37] {Threei}  more or less...

[12:37] {cujo} stp would be over .70?

[12:37] {Threei}  same thing still... chart's right, time of the day is wrong

[12:38] {cujo} yeah

[12:39] {nemo} question on that Vad:  time of day is wrong, but day is definitely down, does that way in favor of the setup midday (heheh as it spikes)...or did I just answer the question...damn thinking

[12:39] {nemo} way=weigh

[12:39] {Threei}  it's just that at this time market is more likley to shake out than to follow up the setups

[12:40] {nemo} regardless of the prevailing trend?

[12:40] {Threei}  there is no trend right now

[12:40] {Threei}  there is aimless wandering

[12:40] {nemo} I understand, but that the main trend today was down.

[12:40] {Threei}  sure

[12:41] {Threei}  what good general direction for the day is if you get into the trade right now, and get shaken out?

[12:41] {nemo} understand

[12:41] {Threei}  downtrend was in place from 10 to 12

[12:42] {nemo} Yea, I guess arguably it's been trending up since

[12:43] {Threei}  well, not really up

[12:43] {Threei}  rather consolidating

[12:43] {Threei}  for who knows what

[12:44] {Threei}  the only scenario under which I'd feel comfortable:

[12:44] {Threei}  suden sharp move down in the market, CAT slight delay for entry

[12:45] {Threei}  anything else is 50/50

[12:45] {Threei}  may work, may give a few cents and snap back

[12:45] {Threei}  FED'S LACKER: PROPOSED TREASURY TAKEOVER OF CREDIT PROGRAMS FROM THE FED

[12:47] {Threei}  anyone understands this?

[12:47] {Threei}  BELIEVES THE FED'S CREDIT ACTIONS CAUSE MORAL HAZARD

[12:47] {Threei}  - Using Fed's balance sheet as path of least resistance because it bypasses Congress

[12:47] {Threei}  - Should not be difficult to transfer Fed lending to Treasury's books

[12:47] {nemo} more comrade speak?

[12:48] {dino} lods

[12:48] {Threei}  well, yes, but it sounds like potential huge reworking of the financial system

[12:48] {nemo} I think it's accounting shuffling from one organization to the other

[12:48] {Threei}  with changing of the very role of the Fed

[12:49] {Threei}  if this is what's implied, I want to stay in cash until something clears up

[12:51] {Threei}  - Warns that government intervention adds to market uncertainty.

[12:51] {nemo} Going for your title again

[12:55] {dino} mcd green

[12:58] {buyemsellem} isn't this special timing

[12:59] {buyemsellem} prez speech

[12:59] {nemo} what?  Obama speaking again?

[12:59] {Threei}  yes, lol

[12:59] {nemo} really?

[12:59] {Threei}  yes

[13:00] {Threei}  russian-speaking may remember the slogan: ni dnja bez strochki

[13:01] {nemo} no tickee no shirty?

[13:01] {Threei}  paraphrasing for this situation and Enlgish... no day without speceh

[13:06] {Threei}  GE

[13:06] {Threei}  CEO IMMELT DISCLOSES PURCHASE OF 50K SHARES AT $8.26 - FILING DATED 3/2

[13:06] {Threei}  big spender, he is

[13:07] {nemo} FAS/FAZ compressing

[13:12] {Threei}  yawn

[13:15] {magoo} q server vad?

[13:15] {Threei}  9

[13:15] {magoo} ty

[13:22] {Threei}  BAC CEO: GOVT AID FOR MERRILL TRANSACTION WAS A 'TACTICAL' ERROR

[13:22] {Threei}  meaning?

[13:23] {Threei}  chaeron forgot how to connect the room

[13:23] {nemo} now they can't pay bonuses

[13:24] {dino} i think they are more worried that govt citi's them

[13:24] {Threei}  since when the bonuses for your normal day-to-day job become expected

[13:25] {Threei}  oh, I forgot... without them brightest talents will leave

[13:25] {Threei}  to man hotdog stands I guess

06[13:25] * Threei slaps Chaeron around a bit with a large roll of cash

[13:25] {Chaeron} thanks

[13:25] {Threei}  always

[13:25] {Threei}  how have you been?

[13:25] {Chaeron} can always use it... :)

[13:25] {nemo} all that talent that got us into this septic tank in the first place!

[13:26] {Chaeron} great thanks

[13:26] {Chaeron} how's everyone? Am 

[13:26] {Chaeron} Am I interrupting?

[13:26] {Threei}  yes, we were in deep coma

[13:26] {Chaeron} as usual

[13:26] {Threei}  dcc chaeron :)

[13:27] {Threei}  CEO: GOVT AID FOR MERRILL TRANSACTION WAS A 'TACTICAL' ERROR; POSSIBLE BOA COULD PAY BACK TARP FUNDS IN TWO TO THREE YEARS - FT INTERVIEW

[13:34] {Threei}  - says $10B would have been a better sized request

[13:34] {Threei}  how much did they get?

[13:36] {dino} 8 bucks

[13:51] {Threei}  OK guys

[13:51] {Threei}  ready to start trying for an upward move?

[13:52] {magoo} yup

[13:52] {pita} today?

[13:52] {Threei}  warning: can cost a stop or two until we get it right

[13:52] {Threei}  CAT, .50 break for a scalp

[13:53] {Threei}  if holding above .35 - .40

[13:53] {Threei}  STT, half lot long closer to .30

[13:54] {nemo} in cat

[13:54] {Threei}  with stop .15 for STT

[13:55] {magoo} in cat

[13:55] {Threei}  if no pullback, wait for market spike and grab STT with stop under .30

[13:55] {nemo} here's some milk for ya' sweetie

[13:58] {nemo} tht's two teleports for cat

[13:59] {Threei}  .50 break should catapult STT

[14:04] {dino} rally time, lately around 2-2:30, sell offs after 3

[14:04] {Threei}  CAT 1:1 baby

[14:05] {dawg} yessir

[14:05] {nemo} 1/2 out 1:1

[14:05] {nemo} cat

[14:05] {Threei}  if partialling, move stop to .45 for the balance

[14:06] {Threei}  STT still hasn't decided... never pulled back enough for entry, never nbroke .50

[14:06] {Threei}  US HOUSE LAWMAKERS ASK DOE TO REVIEW VITOL OIL CONTRACTS

[14:06] {Threei}  - Note that Vitol is the largest independent physical trader of oil.

[14:06] {Threei}  - Reminder: Back on 12/24, the CFTC said it was looking into Vitol's use of floating tankers as oil storage and Hedge Fund activities

[14:07] {Threei}  FED'S LACKER: SUPPORT INFLATION TARGET OF 1.5%, US APPROACHING A LIMIT ON DISCRETIONARY SPENDING; CONCERNS OF JOB MARKET HITTING CONSUMER SPENDING

[14:07] {Threei}  - Notes risks to deflation have recently fallen

[14:07] {Threei}  - Remarks that growth will increase when households stop trimming spending{

[14:16] {Threei}  if STT triggers, stop under .35

[14:17] {dptl} in.51

[14:20] {Threei}  no worky STT

[14:21] {nemo} stopped cat

[14:21] {dptl} ye...stopped

[14:26] {cujo} Vad, how has real estate in Canada been?

[14:26] {Threei}  fairly stable so far

[14:26] {Threei}  retreated of course

[14:26] {Threei}  but nothing on a scale of US

[14:26] {cujo} did you guys have any exposure in the banks to subprime at all?

[14:27] {Threei}  not in a sense of subprime lending in Canada

[14:28] {cujo} ss rimm .07

[14:30] {Threei}  what's with BAC buying

[14:30] {nemo} Immelt?

[14:31] {Threei}  ?

[14:31] {nemo} bad joke...he bot 50k of GE why not some more pos

[14:31] {Threei}  lol

[14:32] {nemo} my jokes are like my trading lately, huh Magoo?

[14:32] {Threei}  SEC'S WALTER: URGES CONGRESS TO MERGE THE SEC WITH THE CFTC, BELIEVES SEC SHOULD HAVE OVERSIGHT OF DERIVATIVES

[14:33] {cujo} stopped -.04

[14:34] {Threei}  wow

[14:36] {Threei}  who said where what?

[14:36] {nemo} Yeah, no kiddin' unless it was that Walter comment

[14:36] {Threei}  nah

[14:43] {cujo} anyone think RIMM gonna break .50 and run?

[14:44] {nemo} I'm not supposed to think

[14:44] {cujo} me too.  hurts.

[14:45] {Threei}  I am willing to think for 3 minutes straight... who pays for Advil?

[14:45] {nemo} use vodka

[14:46] {cujo} uhh, i have a bottle.

[14:46] {nemo} vodka or advil

[14:46] {Threei}  nah... vodka helps stop thinking but not with headache

[14:46] {Threei}  unless you are dp... he uses vodka as an universal cure

[14:47] {dptl} :)  ....

[14:49] {Threei}  STT fooled us eh

[14:51] {Threei}  I am waiting for magic words

[14:51] {Threei}  m-t-m abolished

[14:51] {Threei}  buying 5K BAC, 5K FAS

[14:51] {Threei}  closing my eyes

[14:51] {nemo} short FAZ

[14:51] {Threei}  and not opening them for 30 minutes

[14:54] {Threei}  FAZ won't be available

[14:54] {nemo} True

[14:54] {Threei}  one of those announced non-marginable recently

[14:54] {nemo} Oh

[14:58] {Threei}  by the way,

[14:59] {Threei}  since m-t-m change will cause market to rally but won't fix economy fundamentally... is this the last bullet they have?

[14:59] {nemo} bad bank?

[14:59] {Threei}  any more ammon in their arsenal we can think of?

[14:59] {Threei}  yeah, I guess

[15:00] {cujo} i can't think of anything.

[15:00] {nemo} Forgot...I'm not supposed to think...damn

[15:00] {Threei}  sorry

[15:00] {Threei}  didn't mean to cause you headache

[15:00] {nemo} Yeah, you tricked me, it's your fault

06[15:00] * Threei mails nemo a bottle of Advil

[15:01] {Threei}  FDIC'S BAIR: DOES NOT FORECAST GOVT 'RUNNING LARGE BANKS'; THERE ARE DIFFICULTIES IN BANK NATIONALIZATION

[15:01] {Threei}  OK, "no nationalization" isn't working anymore

[15:01] {Threei}  not even blinking on that

[15:01] {cujo} ss bac .76

[15:01] {nemo} in name...as they attach restrictions to money they are nationalizing

[15:02] {Threei}  FAS sharp drop

[15:05] {Threei}  cujo... your call for -300 looks better and better

[15:05] {cujo} got this feelin...

[15:06] {cujo} Bac +.10

[15:06] {Threei}  kitty is back to low

[15:08] {Threei}  FDIC'S BAIR: REITERATES WOULD BE 'SURPRISED' IF A US BANK WAS NATIONALIZED; DOES NOT FORECAST GOVT 'RUNNING LARGE BANKS' - CONF COMMENTS

[15:08] {Threei}  uh oh

[15:08] {Threei}  143rd reasurance about no nationalization in 5 week...

[15:08] {Threei}  sounds ominous

[15:11] {Onix} just look @ that craze PALM on such a day!? :O

[15:12] {cujo} that pre better be something amazing

[15:17] {Threei}  SLM

[15:17] {Threei}  FITCH PLACES RATINGS ON NEGATIVE WATCH; AFFECTS APPROX $39.7B IN DEBT AND PREFERRED STOCK

[15:20] {Threei}  fern

[15:20] {Threei}  why did we ever cover SLM?

[15:20] {buyemsellem} or any other short

[15:20] {Threei}  lol

[15:20] {cujo} BAC inverted sc&h?

[15:20] {cujo} c&h

[15:21] {fernp} don't know :)

[15:21] {Threei}  can't tell cujo, this is tough one

[15:21] {cujo} i'm scared...

[15:21] {Threei}  hmmm

[15:21] {nemo} although FAZ just broak the high

[15:21] {Threei}  is rabid dog is scared...

[15:21] {Threei}  if

[15:21] {nemo} no, he's sick

[15:22] {cujo} i'm getting better.  Had a cold or flu last week....  Better now.. 

[15:24] {Threei}  OCC'S DUGAN: US ADMINISTRATION HAS MADE PROGRESS ON PUBLIC/PRIVATE ASSET PLAN; RUNNING LARGE BANKS 'LAST RESORT'

[15:25] {Threei}  who said they are capable of running them at all?

[15:25] {cujo} FAZ taking off

[15:26] {cujo} well, not taking off

[15:26] {nemo} Vad, haven't the last few closing hours been relatively muted?

[15:27] {Threei}  mostly

[15:27] {Threei}  unless prez spoke on the last minutes

[15:28] {dptl} ok....have a good evening all

[15:28] {Threei}  take care dp

[15:28] {cujo} c ya dp

[15:33] {dino} been down tho

[15:38] {fernp} funny and educational video about "the crisis"

[15:38] {fernp} http://vimeo.com/3261363

[15:39] {Threei}  ty fern

[15:39] {fernp} welcome

[15:41] {Threei}  hard to imagine FAS going any lower

[15:41] {Threei}  which probably means it will, lol

[15:41] {cujo} can you imagine FAZ going higher? :)

[15:41] {nemo} sure...seen skf

[15:41] {Threei}  FAZ used to trade at 200 :)

[15:42] {buyemsellem} S&P 700?

[15:42] {Threei}  see 11/21

[15:42] {cujo} {cujo} -300

[15:42] {Threei}  12 left

[15:44] {Threei}  -305

[15:44] {Threei}  good call

[15:44] {buyemsellem} there it is

[15:44] {buyemsellem} 699

[15:44] {cujo} boom goes the dynamite

[15:46] {dino} wow, used to take 3-5 days to drop 5%, s/p did it today

[15:47] {dino} i have to reviise my dji zero target in 15 weeks to 5 weeks at this pace

[15:47] {Threei}  lol

[15:48] {dino} all of this because of an accounting change, wow!

[15:48] {Threei}  well, I think there is more to it than that :)

[15:49] {dino} yes, but it was the trigger imo

[15:49] {nemo} I remember this starting in 2007 w/the subprime guys going south

[15:50] {Threei}  what is the difference between taking something overnight today and buying lotto ticket?

[15:50] {cujo} lotto ticket limited loss

[15:50] {nemo} going short is less of a risk than going long...

[15:51] {dino} -10%+ since wed. that the only edge immo

[15:51] {cujo} holding over night tonight....  another story...

[15:51] {Threei}  I am with cujo... lotto ticket won't cost nearly as much

[15:51] {nemo} Yep...Megamillions 212 million

[15:51] {cujo} nice.  Gonna get me some tickets tonight. 

[15:53] {Threei}  well, me happy with our performance in this market

[15:54] {Threei}  5 for 7 if my memory serves me right

[15:54] {nemo} yep..tiptoeing through the minefield nicely

[15:54] {buyemsellem} definitely a good day

[15:54] {nemo} one was a 1/2

[15:54] {cujo} yup, good day today

[15:54] {Threei}  let's stay this way... restrained, careful, taking safe trades

[15:55] {Threei}  until markey loses its marbles and decides to raly against all odds

[15:55] {dino} iart

[15:56] {Threei}  cruel

[15:56] {Threei}  too close to eod though

[15:57] {dino} isrg ouch

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

[16:00] {nemo} P&Q 

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

[16:01] {Threei}  see you tomorrow

[16:01] {vint} bye all

[16:01] {cujo} c ya

[16:02] {fernp} good nite all