Mar 05 2009

A few successful scalps here and there, couple stops... but the highlights of the day were shorts on USB and CAT, both for 40 cents profitable moves. The end of the day was practically unreadable so we mostly stayed away.

Session Time: Thu Mar 05 00:00:00 2009

[07:59] {magoo} morning

[07:59] {nemo} u 2

[08:05] {magoo} GYMB slaughtered last nite

[08:07] {patience} good morning rt  :)

[08:07] {cujo} morning all

[08:07] {magoo} pat:0

[08:16] {ese} good morning

[08:16] {Threei}  Good morning

[08:16] {Threei}  BALTIC DRY BULK INDEX +4%, 5TH STRAIGHT INCREASE

[08:16] {cujo} morning Vad

[08:17] {ese} DRYS  on the move maybe

[08:17] {nemo} hello

[08:17] {Threei}  cujo, ese, nemo :)

[08:17] {magoo} vad:)

[08:19] {magoo} ADBE moving up

[08:19] {Threei}  magoo :)

[08:21] {Threei}  03/04/09 04:17pm [ADBE] Narrows Q1 EPS targets of $0.44-0.45 v $0.42e, Cuts Rev forecast to $783-786M v $792Me ($0.43-0.47, R$800-850M prior)

[08:21] {Threei}  and 4 uopgrades this morning

[08:27] {ese} what are the 4 upgrades vad?

[08:28] {Threei}  UBS, Friedman Billings, Jefferies

[08:28] {Threei}  and hmmm, Friedman Billings again

[08:28] {Threei}  not sure why they did it twioce... a lot of enthusiasm I guess :)

[08:28] {nemo} whose payroll are they on?

[08:29] {ese} the friedman billings price target for adbe was raised to 16......it's at what...18

[08:29] {nemo} just to go with approved pessimism

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 639K V 650KE; CONTINUING CLAIMS: 5.106M V 5.155ME

[08:30] {Threei}  wow

[08:31] {Threei}  first good numbers in I don't know how long

[08:31] {fernp} Hello everybody

[08:31] {Threei}  fern :)

[08:31] {ese} wow mags...your not kidding with Gymb.......lopted 8 bills off......

[08:31] {ese} fern

[08:32] {nemo} Hey ese?  Ever heard The Yellow Jackets?

[08:33] {ese} yup....one of my favorite fusion band

[08:33] {ese} bands

[08:33] {ese} have seen them 3 times

[08:34] {nemo} saw 'em Saturday night at Scullers in Boston, FANTASTIC!  How about Coco Montoya?

[08:34] {ese} long time ago though....are they still around?

[08:34] {nemo} 29 years

[08:34] {cosmo} another day; another dollar.  It's still the 'dolla' ...right?

[08:34] {ese} fabulous musicians

[08:34] {nemo} peso cosmo

[08:35] {nemo} yes ese

[08:35] {cosmo} sigh

[08:35] {nemo} bass player awesome on a six string

[08:35] {nemo} piano player...don't have words

[08:36] {nemo} dcc ese

[08:36] {ese} with ya on all of that

[08:36] {magoo} vad, pull up the gymb news please

[08:37] {Threei}  03/04/09 04:06pm

[08:37] {Threei}  [GYMB] Gymboree Corp Reports Q4 $1.00 v $0.98e, R $288.7M v $288Me, SSS -2%

[08:37] {Threei}  - Guides Q1 EPS $0.18-$0.25 v $0.75e

[08:37] {Threei}  - Guides Q1 SSS Down 20-25%

[08:37] {Threei}  - Company cites continuing difficult retail selling environment and the temporary impact of the recently enacted regulations on current product assortments.

[08:38] {Threei}  and of course couple downgrades

[08:38] {magoo} ty

[08:40] {cosmo} ... see if it holds 14...

[08:41] {ese} the Raven speaks

[08:43] {Onix} Good morning all

[08:43] {Threei}  onix :)

[08:44] {magoo} so whats the news catalyst for thismorns drudgery?

[08:46] {Threei}  ?

[08:46] {magoo} morningstar saying STT,C,BAC,PNC,STI,FITB,KEY are likely to fail govt stress test 

[08:47] {Threei}  lol

[08:47] {magoo} down 116 vad...after 1 day bounce in extremely oversold mkt=drudgery

[08:48] {Threei}  no one knows how test is going to be arranged, and on top of that - test results are not going to be made public

[08:48] {Threei}  so what's the point in those speculations

[08:51] {Threei}  market doesn't nedd bad news these days to move down

[08:52] {magoo} whats your pre mkt feel here

[08:52] {Threei}  none

[08:52] {Threei}  as if ity too eassy to get normal hours feel... you want premarket too? :)

[08:53] {nemo} Expectations grow with your legend Vad

[08:54] {Threei}  lol

[08:54] {pita} gm everyone

[08:54] {Threei}  pita :)

[08:58] {magoo} im trying to put together a celebrity boxing match...top card vad vs cramer

[09:00] {pita} rules? 

[09:00] {cosmo} don't forget Rush.....

[09:00] {geo} good morning

[09:01] {pita} in a cage?

[09:01] {Threei}  geo :)

[09:02] {Threei}  strange mags... I always pictured you as a fan of female wrestelrs in jelyy type

[09:02] {geo} wow

[09:02] {geo} I really need playback

[09:02] {Threei}  lol

[09:03] {Threei}  as for cosmo's remark... I'd really prefer to have Rush on my side {G}

[09:03] {cosmo} hmmm maybe he could be the coach

[09:04] {cosmo} nah

[09:04] {cosmo} GYMB tries

[09:04] {Threei}  I'd just sit in corner and let him pound away

[09:05] {dino} gm all

[09:05] {Threei}  dino :)

[09:06] {magoo} russian bear tactic vad?

[09:07] {Threei}  just an acknowldegment of his greatness :)

[09:07] {cosmo} legendary...

[09:08] {cosmo} soon to be mythical....

[09:08] {dino} well, looks like yesterdays' gaps will fill

[09:08] {pita} you really need Kudlow, Rush and Cramer for a jaw-fest

[09:08] {Threei}  my money's on Rush

[09:09] {dino} 696 s/p, 1080 ndx

[09:12] {Onix} can anyone please explain tol me why the Canadian dollar is so weak compared to the US dolar, while the Canadian banks and econimy is still in much better shape tha the USA?

[09:12] {ese} better banking system.....

[09:12] {Threei}  just take a good thing and don't ask why :)

[09:13] {Onix} :D

[09:13] {cosmo} tol = thinking out loud

[09:13] {cosmo} i think

[09:13] {Threei}  at this point, it's a combination of weak oil,

[09:14] {Threei}  weak export which is a big factor for an exoprting country

[09:14] {ese} the reserves required  to back loans etc etc.......deposit insurance etc......2nd to none

[09:14] {dptl} good morning all

[09:14] {ese} dp

[09:14] {Threei}  and general reflection of Canadian economy as dependent on USA strength

[09:14] {Threei}  dp :)

[09:15] {cosmo} wait untill we're on the 'wood' standard

[09:15] {ese} those stringent requirements all but insure the banks will not fail....builds confidence......run on a bank here will never happen

[09:15] {Onix} thanks, that helps .. just hard to pay anything US with our weak Canadian currency

[09:20] {dino} your weak dollar is good for manufacturing and exports. usa was fine w/weaker dollar, the stronger is hurting us

[09:20] {Threei}  pretty much

[09:20] {Threei}  CAD rally killed manufacturing

[09:20] {dino} i've said that here for years, strong dollar no help

[09:21] {geo} amero amero

[09:21] {Threei}  and for country to positive trade balance it was a tough burden

[09:21] {cosmo} ame'o

[09:21] {dino} except for selling debt, then weaken it over time debt becomes less

[09:21] {Threei}  for me personally, CAD drop is a blessing

[09:22] {Threei}  majority of personal spending is still within Canada, so better conversion of prifits made in USD to CAD is a nice icing on a cake

[09:23] {Threei}  and for US spending I simply keep part of earning in USD, never converting it

[09:23] {Threei}  WMT

[09:23] {Threei}  RAISES DIV BY 15%

[09:24] {Onix} so, i will just have to start making money now hey?

[09:24] {Threei}  wow WMT bid

[09:24] {geo} vad.. whats on your shortlist?

[09:25] {Threei}  usual suspects only

[09:25] {dino} hott, aro big beats

[09:26] {Threei}  watching STT for that customary big dive at the open

[09:26] {vint} good morning all

[09:26] {Threei}  vint :)

[09:27] {Threei}  keeping half eye on UAUA

[09:27] {Threei}  for possible repetition of its yesterday opening spike

[09:28] {dino} morning star ragging stt

[09:28] {Threei}  other than that, not much so far

[09:28] {dino} next rally, 3/13. 5 down, then up

[09:28] {dino} :)

[09:28] {geo} adbe intereting

[09:28] {Threei}  gotta get something shaping up

[09:29] {Threei}  also, any mention of m2m is a signal for financial sector to move briefly

[09:29] {Threei}  the more positive mention the better the move

[09:31] {pita} CAT falling off the bed

[09:31] {Threei} Long Setup:  UAUA  4.06 if holding above 4

[09:32] {geo} vix shot up

[09:32] {geo} is it me ot drys stuck

[09:33] {geo} sotty uaua

[09:33] {geo} sorry hehehe

[09:36] {Threei}  slow opening

[09:36] {fernp} MO strong

[09:38] {Threei} Long Setup:  STT  half lot .20 break

[09:38] {Threei}  if stays above 21

[09:38] {dino} apol swing working

[09:41] {Threei}  STT half out

[09:41] {Threei}  stop to .15

[09:45] {Threei} Long Setup:  UAUA  .92 if stays above .80

[09:48] {Onix} ty Vad, got some in STT

[09:48] {Threei}  :)

[09:48] {Onix} in uaua

[09:49] {buyemsellem} put your tray tables up

[09:49] {buyemsellem} turn off cell phones

[09:49] {Threei}  or assume crash position

[09:49] {buyemsellem} ha

[09:50] {Threei}  :)

[09:50] {nemo} head between legs, kiss a$$ goodbye!

[09:51] {cujo} calm as hindu cows

[09:51] {geo} lol

[09:51] {geo} havent heard that before

[09:51] {nemo} never heard that one before

[09:51] {cujo} no?

[09:51] {nemo} ha!

[09:51] {Threei}  calm as yesterday's cake?

[09:51] {nemo} what?

[09:52] {cujo} fight club, when they aretalking about plane crashes

[09:52] {geo} ah

[09:52] {geo} havent watched

[09:52] {cujo} good movie

[09:52] {cujo} highly recommended

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

[09:52] {Threei} Long Setup:  GE  7 break

[09:52] {Threei}  stop under 6.90

[09:52] {Threei}  pita... if you are in, stay in

[09:52] {Threei}  if not, don't chase

[09:55] {Threei}  GE 1:1, half out or scalp, your choice

[09:56] {Threei}  if partialling, stop to .98

[09:56] {Onix} ty Vad, got some in UAUA & GE

[09:56] {Threei}  UAUA stop to .84

[09:57] {Threei}  see Onix... multiply your profit by 1.25 and don't tell me you don't like the USD/CAD rate :)

[09:57] {Onix} now i understand better ;) thaks

[09:58] {Threei}  CBST

[09:58] {Threei}  TICKING HIGHER ON TAKEOVER CHATTER CIRCULATING

[10:00] {Threei}  JAN FACTORY ORDERS: -1.9% V -3.5%E

[10:00] {Threei}  *US Q4 MORTGAGE DELINQUENCIES: 7.88% V 6.99% PRIOR (RECORD HIGH)

[10:01] {Threei}  FED'S KOHN: AIG STILL HAS A LARGE AMOUNT OF DERIVATIVES

[10:01] {Threei}  duh

[10:01] {nemo} Large might not be accurate

[10:01] {Threei}  of course it does... that's why they are scared to death to let it fail

[10:01] {nemo} Let me put it this way, LARGE might be understating it

[10:04] {cosmo} maybe we (the mkt) wants to see some indictments

[10:04] {nemo} I'd prefer hangings myself

[10:04] {Threei}  ok GE... it's time

[10:05] {cujo} l ed .03

[10:05] {cosmo} its all a matter of time nemo

[10:05] {nemo} No, we're too civilized for hanging

[10:05] {dino} esi v sm l .40

[10:05] {cosmo} we were...

[10:05] {Threei}  HOUSE MAJORITY LEADER HOYER: MAY PASS HEALTHCARE OVERHAUL BY AUGUST

[10:05] {Threei}  {IYH}

[10:05] {Threei}  really?

[10:06] {Threei}  that sounds way optimistic to me

[10:06] {nemo} He didn't say they'd get it right

[10:08] {cujo} ed -.10

[10:08] {ese} i'm finding this market today interesting....the upity ups want it to go down and are trying to sell it down but it don't wanna go that way....with just about the entire S&P 500 trading at 10 to 12X's   earnings were looking at more than fair valuations......where in h is it gonna go......the people might be asying no finally

[10:09] {cujo} PALM getting killed

[10:09] {cujo} what up with that...?

[10:09] {Threei}  I don't know ese... I don't believe in some higher beings wanting market to go down and trying to supress it

[10:09] {cosmo} ese....the people just want to re-fi

[10:09] {ese} good one cos

[10:10] {cosmo} :)

[10:11] {buyemsellem} GE is holding on admirably

[10:12] {ese} i'm just looking at my screens   .01 dn .05dn .03 up etc etc etc...after reading all the doom and gloom about it tanking huge today....hmmmmmmm

[10:12] {Threei}  yeah

[10:12] {Threei}  but I don't know how to derive from that a conclusion about some conspirators trying to kill the market :)

[10:12] {cujo} its all those damn short sellers...

[10:13] {cujo} :)

[10:13] {ese} just a sense i'm getting......for what it's worth.......just doing more watching these days than anything else

[10:13] {Threei}  ah those... yeah cujo, locusts

[10:13] {ese} ya....them damn short sellers

[10:13] {nemo} your ese sense is tingling

[10:13] {dino} new dji lows

[10:14] {cujo} not having traded back when this was even an issue, you all think the up tick rule did anything of value?

[10:14] {dino} opps, wrong

[10:14] {dino} no cujo, imo

[10:14] {Threei}  didn't we discuss that yesterday?

[10:14] {ese} no

[10:14] {dino} but bring it back if they want, no matter to me

[10:14] {cujo} not sure

[10:14] {cujo} i was sort of in and out yesterday

[10:14] {cujo} mentally that is

[10:14] {Threei}  lol cujo... memory span of a daytrader?

[10:15] {cujo} memory span of a small fish

[10:15] {cujo} with add

[10:15] {cujo} ADHD

[10:15] {nemo} hey, easy cujo!

[10:15] {dino} we've ruined you already cujo

[10:15] {cosmo} i finally forgot how to do fractions....

[10:15] {cujo} sry nemo

[10:15] {cujo} :)

[10:15] {nemo} forgot to tell you, I'm  a pirhanna

[10:16] {cujo} was watching some nature channel special about them last week

[10:16] {cujo} crazy little buggers

[10:16] {nemo} orthodontist bills

[10:17] {Threei}  http://www.realitytrader.com/tradinglog/2009/03/mar-03-2009.html

[10:17] {Threei}  scroll down to 12:32

[10:18] {fernp} CAT weak Vad

[10:18] {cujo} l HIG .61

[10:18] {cujo} small

[10:19] {Threei}  I looked at it couple times fern

[10:19] {Threei}  problem weas, it dropped into support levels every time too fast to play breakdown

[10:19] {Threei}  maybe this time if bounce it weak

[10:20] {Threei}  .70 would be a trigger

[10:20] {Threei}  let's see where it tops out

[10:20] {fernp} ty

[10:21] {Threei}  .85 is a stop level

[10:21] {Threei}  BAC

[10:21] {Threei}  CTW INVESTMENTS ASKS BOARD TO REMOVE CEO LEWIS

[10:22] {dino} remove the entire board

[10:23] {Threei}  FAS, can you believe the price?

[10:23] {dino} fas=bac

[10:24] {elepet} good morning

[10:24] {dino} ok, lows to watch dji 6705, ndx 1072, s/p 692

[10:24] {Threei}  elepet :)

[10:28] {dptl} ah..stopped cat

[10:30] {pita} and GE, anybody still holding?

[10:30] {Threei}  whby?

[10:30] {Threei}  stop was moved to 6.98

[10:31] {pita} sorry missed that - out awhile ago

[10:31] {Threei}  it hit 1:1

[10:32] {pita} yes, got most of that

[10:32] {pita} ty

[10:32] {Threei}  [09:55] {Threei} GE 1:1, half out or scalp, your choice

[10:32] {Threei}  [09:56] {Threei} if partialling, stop to .98

[10:32] {dino} fxi sm l .50

[10:33] {buyemsellem} so what happens now, weak rally and then steep dive?

[10:33] {Threei}  at the moment, this is how it feels

[10:34] {Threei}  possible factors changing the nearest course of action:

[10:34] {Threei}  - another speech

[10:34] {Threei}  - jawboning about m2m from powers that be

[10:34] {nemo} when is HE speaking?

[10:34] {Threei}  we don't know nemo, and we are not supposed to ask

[10:35] {cujo} he that shall not be named

[10:35] {Threei}  TREASURY SECRETARY GEITHNER: $250B BUDGET PLACEHOLDER IS NOT AN ESTIMATE OF NEED; WILL CONSULT WITH CONGRESS ON ANY FURTHER BAILOUT MONEY NEEDS

[10:35] {dino} vz, t strong

[10:35] {dino} retail too, fd, dltr, aro, wmt

[10:37] {dino} rimm sm l .60

[10:37] {dino} tbt sm l .80

[10:37] {dino} salvation thru inflation

[10:44] {Threei}  not ey convincing bounce... feels like smackdown is coming

[10:44] {Threei}  ey = very

[10:44] {Threei}  C

[10:44] {Threei}  MOODY'S LOWERS RATINGS ON 6 CITI SPONSORED SIVS TO A1;

[10:45] {geo} how can anything be A1 after being lowered

[10:45] {geo} sheesh the stuff these guys use

[10:47] {Threei}  smackdown it is

[10:47] {dino} good feel

[10:47] {nemo} You sure HE's not talking?

[10:48] {dino} lol

[10:48] {nemo} Wonder if FAS will qualify for delisting today?

[10:50] {cujo} if fas goes to .01 i'm planning to buy 10,000 shares.

[10:50] {pita} looks a lot like WFC

[10:51] {nemo} GE really holing a range

[10:51] {nemo} holding

[10:51] {Threei} Short Setup: USB  9.52 if stays below 9.60

[10:51] {pita} ADBE gonna bounce?

[10:54] {Threei}  SENATOR DODD (D): AIG'S CONTINUED FAILURE TO NAME ITS COUNTERPARTIES IS UNDERMINING PUBLIC SUPPORT FOR BAILOUT - SENATE HEARING ON AIG

[10:54] {Threei}  - Calls on the Fed to reveal AIG's counterparties.

[10:54] {Threei}  FED'S KOHN: NAMING AIG'S COUNTERPARTIES WOULD UNDERMINE EFFORTS TO STABILIZE THE COMPANY

[10:54] {Threei}  lol

[10:54] {Threei}  let them duke it out

[10:55] {nemo} When everybody finds out how much of a part Golman Sachs plays in that they'll be Bull excrement

[10:56] {cujo} :)

[10:56] {Threei}  GM

[10:56] {Threei}  SAYS GOING CONCERN NOTICE IN 10-K WAS "NOT A BIG DEAL"

[10:56] {Threei}  nah

[10:57] {nemo} short set up for GE?

[10:58] {Threei}  not sure

[10:58] {Threei}  locked into this 10-15 cents range

[10:58] {Threei}  kind of in the middle of everything

[10:58] {nemo} get's below .85 there's a good gap from the open

[10:59] {cujo} Vad, USB scalp or more?

[10:59] {fernp} UBS is a scalp?

[10:59] {fernp} sorry!

[10:59] {Threei}  good question

[10:59] {nemo} usb or ubs

[10:59] {Threei}  HEARING VAGUE CHATTER THAT CITIGROUP MAY BE REMOVED FROM DOW INDUSTRIAL AVERAGE RELATIVELY SHORTLY

[11:00] {Threei}  USB

[11:00] {fernp} USB

[11:00] {cujo} geez, zome serious volume there

[11:00] {nemo} well GE coughed it up

[11:00] {dptl} in usb

[11:02] {Threei}  really can't tell guys

[11:02] {cujo} polish that crystal ball

[11:02] {Threei}  market has distinctive feel of a mini-crash coming

[11:03] {Threei}  REPORTEDLY US DOE TO ISSUE FIRST LOANS IN $25B AUTOT LOAN PROGRAM IN 'WEEKS'

[11:03] {Threei}  {GM F}

[11:05] {Threei}  I solved this dilemma by shorting double lot

[11:05] {Threei}  stop is tight enough

[11:05] {Threei}  so if it hits 1:1 I will cover 1 lot

[11:05] {Threei}  trail stop andf see if we get more

[11:06] {Threei}  EU'S BARROSO: CONCERNED OVER PUTIN'S COMMENTS IN UKRAINE GAS DISPUTE

[11:06] {Threei}  - REminder earlier Putin noted that would halt shipments to Ukraine March 7 if payments were not made

[11:08] {Onix} ty Vad, i grabbed some in USB :D

[11:08] {Threei}  TREASURY SEC GEITHNER: STILL EVALUATING METHODS TO ALLOW AUTOMAKERS TO RESTRUCTURE

[11:08] {Threei}  {GM F}

[11:08] {Threei}  yeah Timmy, why would you hurry

[11:08] {Threei}  it's not it's an emergency

[11:08] {Threei}  it's not like it's an emergency

[11:09] {Threei}  DOE'S CHU: DOE WILL BEGIN ISSUING CAR LOAN GUARANTEES WITHIN WEEKS

[11:09] {Threei}  {GM F}

[11:10] {dino} prepackge bankruptcy and move on

[11:13] {dino} hammering on support, dji, s/p

[11:13] {dino} ice is getting weaker, imo

[11:14] {Threei}  market bounces look like someone is trying to climb out of abyss grabbing any little plant on a steep incline... losing grip and sliding down

[11:14] {Threei}  USB 1:1

[11:14] {dino} dji breaks tues. lows

06[11:15] * dino slaps &Threei around a bit with a large trout

[11:15] {Threei}  why oh why

[11:15] {Threei}  1 lot covered USB

[11:15] {dino} i was using the ice example, grabbing chunks of floating ice

[11:15] {Threei}  stop to .55

[11:15] {dino} s/p broke

[11:15] {Threei}  oh lol

[11:16] {Threei}  I thought you referred to a stock

[11:16] {Threei}  and ICE does get weaker

[11:16] {Threei}  here is my minicrash starting

[11:17] {Threei}  and here comes 1:2 USB

[11:17] {dino} [11:13] {dino} hammering on support, dji, s/p

[11:17] {dino} [11:14] {dino} ice is getting weaker, imo

[11:17] {Threei}  half lot more out

[11:17] {Threei}  last half stop to .51

[11:17] {fernp} good one Vad. ty

[11:17] {Threei}  :)

[11:17] {Threei}  anyone tried my method on it?

[11:17] {cujo} nice trade Vad

[11:18] {buyemsellem} very nice on the USB

[11:18] {Threei}  it's a midification of umbrella

[11:18] {Threei}  SENATOR BUNNING (R): AIG IS A LOST CAUSE

[11:19] {Threei}  USB 1:3, 1/4 more out

[11:19] {Threei}  last portion stop to .41

[11:19] {dino} after 200 billion he says that, wtg genius

[11:23] {Threei}  C lost 1 for a second

[11:23] {Threei}  and again

[11:23] {buyemsellem} C you later

[11:24] {dino} mcd sm l .72 gap from tues filled

[11:24] {buyemsellem} another leg down anyone?

[11:24] {Threei}  want one last leg from USB

[11:24] {geo} sniff I liked my bank

[11:25] {buyemsellem} yup, still short 1/4

[11:25] {Threei}  I think so buyem

[11:25] {dino} dk buy and sell

[11:25] {geo} wow vol on 5 min candle 30 million on c

[11:25] {dino} problem is as i said yesterday, we just had our 1 day a week positive

[11:25] {Threei}  yes, there was 1 min candle with almost 15 mil

[11:26] {Threei}  woohoo

[11:26] {Threei}  USB +.30

[11:26] {Threei}  my a$$ is out

06[11:26] * geo is going to get his stuff out of the bank

[11:26] {dino} and heck only down 6% this week

[11:26] {Threei}  +.40, sorry

[11:26] {cujo} nice one Vad.  

[11:26] {buyemsellem} beautiful

[11:26] {dino} wtg vad

[11:26] {Threei}  ty

06[11:26] * geo thinks thats a disturbing visual

[11:27] {Threei}  on such thick one it's not a small feat

[11:27] {geo} {&Threei}  my a$$ is out

[11:27] {Threei}  this kind is not moving as easily as thin stocks

[11:27] {geo}  {buyemsellem} beautiful

[11:27] {dino} ndx gap filled

[11:27] {cujo} yeah that .45 bid was tough to get through

[11:27] {Threei}  and allows to play much bigger shares

[11:28] {Threei}  geo... it's all in your mind, and it seems to be quite a sick one {G}

[11:28] {geo} hehehe

[11:28] {ese} am outta here...see you all tomorow

[11:28] {Threei}  that's why magoo and I like you

[11:28] {Threei}  take care ese

[11:28] {cujo} c ya

06[11:28] * geo blushes

[11:28] {ese} kcheers

[11:28] {geo} see ya ese

[11:28] {Threei}  but becareful because cujo does too

[11:28] {Threei}  and be liked by a rabid dog, ya know...

[11:29] {geo} what can i say.....

[11:29] {geo} i am transfixed by C

[11:29] {Threei}  bark greetingly?

[11:29] {cujo} ruff ruff....

[11:29] {cujo} i'm starting to worry about my cashish at citi

[11:30] {cujo} hope this fdic thing is really as reliable as i have read

[11:30] {geo} another 20 mill 5 min candle coming up

[11:30] {geo} i wonder who is buying

[11:30] {geo} magoo?????

[11:30] {Threei}  there were some headlines abut FDIC running low on reserves

[11:31] {Threei}  now... FDIC insolvency would be the end of it

[11:31] {Threei}  so I'd guess it's not going to happen

[11:31] {buyemsellem} we are down 320 on DOW since yesterday at 3:25

[11:31] {Threei}  and if it does... having money in any form or not is not going to matter

[11:32] {geo} steel and lead

[11:32] {Threei}  it's going to be gun and ammo that decide who gets the food

[11:32] {geo} my fav metals

[11:32] {buyemsellem} 4.6%

[11:32] {Threei}  USB was good for 50 cents

[11:32] {magoo} id do better in that environmt

[11:32] {geo} comeon magoo

[11:32] {geo} you seem to be doing ok in the markets too

[11:33] {magoo} struggling of larte

[11:33] {magoo} late

[11:34] {magoo} down today as speak

[11:34] {geo} thats reminds me... hey magoo what do you think of H&K USP... thinking of gettin one as a bdday present :)

[11:34] {geo} same here magoo... happy fingeres syndrome

[11:35] {geo} dcc me pls

[11:35] {magoo} i missed exits on vads uaua, stt, and ge and ended up taking losses on all 3

[11:35] {magoo} way off today

[11:35] {magoo} and afraid to short

[11:35] {Threei}  and ignored USB??

[11:35] {magoo} but was thinking sh gs at 54

[11:35] {nemo} Yea, I took the GE short instead...duh

[11:36] {magoo} well yea

[11:36] {magoo} was pissed so stopped

[11:36] {Threei}  what am I doing here

[11:36] {geo} wow..... atleast you took em....... I was stuck in an etf position and was too busy nursing it

[11:36] {Threei}  no one plays my calls anyway

[11:36] {magoo} not u..what am IDOING 

[11:36] {geo} so locked myself out of platform

[11:36] {Threei}  see you in a year

[11:36] {geo} comen vad

[11:36] {geo} be more forgiving

[11:36] {nemo} Yeah, I did...I just saw the short and said o.k.  Unfortuantely only .20

[11:36] {geo} it hurts as it is

[11:36] {Threei}  what's that?

[11:37] {dino} think inflation vad

[11:37] {Threei}  my english vocabulary must be too limited

[11:37] {Threei}  no word "forgiving" in it

[11:37] {geo} how about kind or gentle

[11:37] {Threei}  nope, none of that either

06[11:37] * geo goes back to self-flagellation

[11:38] {Threei}  now, that I do have

[11:38] {buyemsellem} NASDAQ is below lowest november close now

06[11:39] * Threei slaps geo around a bit with a large list of winning calls none of which was take by forementioned geo for some unknown reason

[11:39] {geo} sniff

06[11:39] * geo takes his beating like a snivelling kid

[11:39] {Threei}  just helping with that flagellation

[11:40] {geo} wow markets....

[11:41] {geo} so now we officially below dot com bubble

[11:41] {Threei}  not n NASDAQ

[11:42] {geo} sorry was looking dow

06[11:42] * nemo thinks geo likes beatings

[11:43] {geo} id rather take a beating than loose money due to happy fingers capn nemo

[11:44] {dino} rimm

[11:44] {nemo} depends on who's adminstering the beating

[11:44] {pita} day job - later all

[11:44] {Threei}  take care pita

[11:46] {dino} aro sm l .00

[11:47] {dino} the dino recovery plan: rather than propping up all of the businesses, just issue every american $50,000

[11:47] {geo} id tak eit

[11:47] {geo} dino for prez !!

[11:48] {Threei}  bad plan

[11:48] {dino} cheaper 300 million people (includes kids) x $50k

[11:48] {Threei}  it doeasn't include canadians

[11:49] {dino} you can't vote for me vad, so no

[11:49] {geo} agree

[11:49] {geo} nothing personal vad

[11:49] {Threei}  sigh

[11:49] {geo} gotta stick with fellow USA

[11:50] {dino} well i need the votes

[11:50] {dino} nothing personal

[11:50] {geo} hey vad

[11:50] {geo} register with acorn

[11:50] {geo} then you could probably vote lol

[11:50] {Threei}  any plan that doesn't send me money is a bad plan in my eyes dino... sorry

[11:51] {dino} lol

[11:51] {buyemsellem} OK, instead of propping up businesses, send every canadian $50,000

[11:51] {dino} i'd use it to buy canadian gold miners

[11:53] {geo} GLD yeah !!!!

[11:53] {Threei}  when you have 15 min watch this:

[11:53] {geo} phew i thought i was cooked yesterday

[11:53] {Threei}  http://watch.thecomedynetwork.ca/the-daily-show-with-jon-stewart/full-episodes/march-4-2009/#clip145169

[11:53] {Threei}  quite entertaining

[11:54] {geo} ip restiction for us vad

[11:54] {Threei}  oh, that was canadian side

[11:54] {Threei}  there is US somewhere too

[11:54] {cujo} which episode is it?

[11:54] {geo} was it the santellui clip or the dow clip?

[11:54] {Threei}  on CNBC

[11:55] {geo} ahh the santelli cnbc heheheh

[11:55] {Threei}  santelli, cramer, bank ceos

[11:55] {geo} the dow one is funny too

[11:56] {Threei}  feels like we have bounce in the making

[11:56] {geo} http://www.thedailyshow.com/video/index.jhtml?videoId=220253&title=the-dow-knows-all

[11:57] {Threei} Long Setup:  CAT  .52

[11:57] {Threei}  stop under .45

[11:57] {Threei}  just a scalp

[12:00] {dino} fasb meeting today for 3/12 recommendations on m2m; fwiw

[12:01] {Threei}  if they put positive recommendation on the wire, we will have strong bounce on hands

[12:05] {dino} big if, but anything can happen

[12:05] {Threei}  yeah, just a scenario to keep in mind and react on

[12:07] {magoo} are u thinking a dime on cat or more?

[12:08] {Threei}  originally thought just a scalp,

[12:08] {Threei}  but seeing how it held while market downticked, start thinking maybe more

[12:12] {KSystems} Hi!

[12:12] {Threei}  KS :)

[12:17] {Threei}  FED'S KOHN: UNSURE ABOUT RECOVERY OF ENTIRE TREASURY EQUITY, NO EXPECTATION FOR NET LOSS ON CREDIT FACILITY; AIG HAS ENOUGH ASSETS TO REPAY LOANS EVEN AT DISTRESSED PRICES

[12:17] {nemo} Yeah, our money

[12:19] {Threei}  1:1 CAT

[12:19] {buyemsellem} out 1/2

[12:20] {buyemsellem} trailed my stop to .48

[12:21] {Threei}  getting the routine down eh :)

[12:21] {buyemsellem} heh

[12:21] {Threei}  1:2

06[12:21] * Threei slaps magoo around a bit with a large roll of cash

[12:22] {Threei}  if you tell me you haven't profited from this call either I am not talking to you for the next 7 minutes 43 seconds

[12:22] {magoo} out her .72 TY

[12:22] {Threei}  qwhew

[12:22] {magoo} need 10 more

[12:22] {buyemsellem} out another 1/4 at .74, stop trailing the rest

[12:23] {dptl} ty cat half out .70

[12:24] {dptl} offering .99 rest lol

[12:24] {buyemsellem} nice

[12:25] {buyemsellem} still looking salmonish

[12:27] {dino} sm l lphi .15

[12:27] {magoo} thought about letting it ride...but needed to bank one

[12:27] {buyemsellem} where would a conservative stop trail be for CAT at this point?

[12:28] {Threei}  under .60

[12:28] {magoo} flat .52 so no loss

[12:28] {buyemsellem} OK

[12:28] {magoo} oops sorry vad

[12:28] {Threei}  more aggressive under .70

06[12:28] * Threei slaps Chaeron around a bit with a large roll of cash

[12:29] {magoo} here bully bully...nice bully..c'mere

[12:30] {dptl} 9c left

[12:30] {geo} hiya chaer

[12:30] {Chaeron} hi everyone

[12:30] {geo} forgot password :)

[12:30] {Chaeron} lol

[12:33] {magoo} chinn-cheara:)

[12:34] {magoo} long spy .29 RISKY i suk today

[12:36] {magoo} 69.05 stop

[12:36] {buyemsellem} CAT not looking as salmonish, going to trail aggressive

[12:37] {dptl} ok...out cat .76 ....ty

[12:37] {Threei}  welcome

[12:37] {buyemsellem} yes, thank you, about to be out

[12:37] {nemo} it went up, laid it's eggs and headed back

[12:38] {Threei}  quite happy with today's performance

[12:38] {buyemsellem} as am I

[12:38] {Threei}  a few scalps, 40 cents on USB, almost 40 on CAT

[12:38] {nemo} Geez...and lunch isn't over yet

[12:39] {Threei}  SENATOR DODD (D): MAY HAVE TO COMPEL THE FED TO REVEAL AIG COUNTERPARTIES

[12:39] {Threei}  - Note that earlier in the hearings, Dodd said AIG's continued failure to name its counterparties is undermining public support for bailout

[12:39] {dawg} in SPY .29 small shares

[12:39] {Threei}  my favorite rep:

[12:39] {Threei}  REP FRANK (D): NOTES THAT $7.6B IN TARP FUNDS HAVE BEEN RETURNED TO THE TREASURY TO DATE

[12:39] {Threei}  - Both US Bankcorp and Northern Trust will return their TARP funds.

[12:39] {Threei}  - Both SEC and CFTC will be strengthened, another agency will be given responsability to oversee systemic risk.{XLF USB NTRS}

[12:40] {buyemsellem} OK, out last piece at .79

[12:41] {magoo} thats good news right?

[12:42] {dino} gs returning them too, according to meeting last week

[12:43] {Threei}  this all is so bizxarre

[12:43] {dawg} all out SPY good call magoo ty a large slab of bacon for you 

[12:43] {Threei}  if they can return them in a few months why did they need funds in a first place

[12:44] {nemo} to buy treasuries...

[12:44] {magoo} didnt u read my "i SUK" disclaimer?

[12:44] {dino} thought it was cheap, no strings attached funds. then obamination changed the rules

[12:44] {buyemsellem} If someone reaches out to me with cash I instinctively take it

[12:44] {dino} bingo

[12:44] {dawg} i did but disregarded that

[12:44] {dino} lol

[12:44] {nemo} right...see what happened to treasuries those last few months

[12:44] {Threei}  hehe

[12:45] {Threei}  I like this attitude buyem

[12:45] {Threei}  material scalpers born from, lol

[12:45] {buyemsellem} ha

[12:52] {cujo} In all seriousness, would anyone consider taking their cash out of citibank?

[12:54] {Threei}  hey!! Prez on TV soon

[12:55] {Threei}  missed him?

[12:55] {cujo} going to bank, catchyou later

[12:55] {geo} heheh

[12:55] {Threei}  lol

[12:55] {geo} my logic is nationalized bank more stable these days

[12:55] {buyemsellem} run on the bank, good luck cujo

[12:56] {Threei}  what was that spike in USB about

[12:57] {buyemsellem} interesting

[13:09] {dino} guns and bullet sales rocking

[13:10] {nemo} Yep...I work part time at a sporting goods store, we can't keep bullets in stock

[13:10] {buyemsellem} here we go, this should help

[13:10] {dino} expecting civil unrest

[13:10] {buyemsellem} don't worry, Obama speech

[13:11] {Threei}  PRESIDENT OBAMA: GOAL IS COMPREHENSIVE HEALTHCARE REFORM BY THE END OF 2009

[13:12] {geo} nemo is US or canada?

[13:12] {geo} in

[13:13] {dino} blah, blah, blah; as the cheetos dude would say

[13:14] {dino} usa

[13:14] {nemo} Massachusetts, believe it or not

[13:14] {geo} ok thats surprising

[13:15] {Threei}  nemo's gift to the world is barney frank

[13:15] {geo} and kennedy

[13:15] {dino} lol

[13:15] {nemo} Don't forget Kerry, and Dukakas

[13:16] {dino} wondering if barney and ted ever hooked up

[13:16] {nemo} Barney would have gone off a bridge

[13:16] {geo} gold tocking today

[13:16] {geo} rocking

[13:18] {geo} fdo dltr bj

[13:18] {geo} rising hmmm

[13:19] {nemo} Funny, I remember seeing the news conferences with young Teddy after he went swimming with Mary Joe.  Listening to his responses, even as a kid, made me squirm.

[13:21] {nemo} CAT shrot VAD?

[13:22] {nemo} short

[13:22] {Threei}  no read on short side

[13:22] {Threei}  feels like more upside in the market after some pullback

[13:22] {dino} out aro .40, +.40

[13:23] {nemo} Dino, how's the glasses going?  I still haven't broke down.

[13:23] {dino} use them at night reading in recliner

[13:24] {geo} hmmmm news on molson coors?

[13:24] {geo} tap

[13:25] {Threei}  USB is probably bounce ready here

[13:25] {magoo} hard to be speaker of the house now adays

[13:25] {Threei}  for a scalp

[13:26] {magoo} u gotta be expert in auto industry, finance, banking, health care

[13:26] {magoo} .65 vad?

[13:26] {Threei}  if holding .60

[13:32] {Threei}  change of plan

[13:32] {nemo} short?

[13:32] {Threei}  nah

[13:32] {nemo} too late

[13:36] {Threei}  this one is priceless:

[13:36] {Threei}  FED'S LOCKHART: NOT CONCERNED OVER INFLATION OR DEFLATION AT THE CURRENT TIME - Q&A

[13:36] {Threei}  what, me worry?

[13:36] {buyemsellem} translation: isn't sure which one to be worried about

[13:37] {Threei}  so he choses not to worry about either

[13:37] {nemo} Your'e middle name Alfred, Vad?

[13:37] {Threei}  hmm?

[13:38] {nemo} Alfred E. Neumann of MAD magazine's catch phrase was "What, me worry?"

[13:38] {nemo} MAD was a cultural icon of the 60's and 70's

[13:39] {Threei}  considering where I lived in 60s and 70s... you'll forgive me for never hearing of him

[13:39] {nemo} Of course.  I was going to be impressed

[13:40] {dino}  closing in on 2:00

[13:40] {Threei} Long Setup:  RIMM  .56 if holding above .45

[13:41] {nemo} blew by

[13:41] {Threei}  pullback for entry

[13:42] {nemo} in

[13:42] {Threei}  no go

[13:43] {nemo} out

[13:43] {nemo} that was a quickie

[13:47] {buyemsellem} oh great, I just won the South African National Lottery!

[13:48] {Threei}  congratulations

[13:48] {buyemsellem} those usually don't make it through my filter

[13:48] {Threei}  nigeria of ivory coast?

[13:48] {Threei}  or

[13:48] {buyemsellem} only $840,000

[13:48] {Threei}  hmmm

[13:48] {Threei}  strange

[13:48] {Threei}  I never win less than 10 mil

[13:49] {buyemsellem} very suspicious

[13:49] {buyemsellem} I imagine I only need to mail them $5K

[13:50] {buyemsellem} for starters

[13:50] {Threei}  sure... I send it all the time

[13:51] {Threei}  why not, I'll recover it multifold as soon as all those nice people send me all the lotteries, inheritances etc

[13:52] {Threei}  Chaeron regularly loans me money in echange for % in that

[13:52] {buyemsellem} this is starting to sound like our economy

[13:52] {Threei}  I don't feel noew plunge coming somehow

[13:52] {Threei}  rather strong bounce

[13:56] {magoo} GScandidate IF bounce 

[13:56] {magoo} ?? asking vad

[13:56] {nemo} Interesting you describe a rally in the negative first...not sure how I feel about that...

[13:56] {magoo} or banking secxtor to beat

[13:56] {Threei}  well GS is a mover of course...

[13:57] {Threei}  just wouldn't be my first choice

[13:57] {nemo} Mags, when deer harvesting season start there?

[13:57] {dptl} usb?

[13:57] {magoo} what is?

[13:57] {Threei}  AAPL, RIMM, USB

[13:58] {Threei}  feels like last pyullback befor upward move

[13:59] {Threei}  USB

[13:59] {Threei}  COMPANY NOTES HAVE NOT APPLIED TO RETURN TARP CAPITA; IN CONTRAST WITH BARNEY FRANK COMMENTS

[14:00] {Threei}  news... not sure how it impacts the move

[14:00] {fernp} went from 9.66 to 9.44 in a sec

[14:00] {dptl} crazy

[14:00] {nemo} took the indexe with it

[14:00] {nemo} indexes

[14:03] {dino} bounce time if pattern holds

[14:07] {Threei}  oh boy... FAS

[14:08] {Threei}  what will it indicate if it goes to zero? financial sector ceases to exist?

[14:08] {nemo} I figure they'll push FAZ through 100 today, it's just too close

[14:10] {Threei}  REPORTEDLY FIAT QUESTIONED BY US AUTO TASK FORCE ABOUT THE 'ADDED VALUE' OF PROPOSED ALLIANCE WITH CHRYSLER

[14:10] {Threei}  huh?

[14:10] {Threei}  how is it goverment's business?

[14:11] {geo} they donw want to give up their pride and joy for free

[14:12] {nemo} Still not getting that flushing feeling?

[14:12] {Threei}  no :(

[14:12] {nemo} shouldn't that be "no :)"

[14:13] {Threei}  but I feel guilty about that

[14:13] {nemo} what are you, catholic?

[14:14] {nemo} FAZ breaks 99

[14:15] {Threei}  CIEN must be deeply insulted by this:

[14:15] {Threei}  UPDATE: PRICE TARGET LOWERED TO $6 FROM $7 AT BOFA/MERRILL LYNCH, MAINTAINS UNDERPERFORM RATING

[14:16] {Threei}  considering the source..

[14:23] {nemo} FAZ nudged 99.99, this is just a game right now.  

[14:23] {Threei}  I don't know guys, maybe my read is off... I just don't feel another seloff comng

[14:24] {Threei}  staying on a sideline

[14:24] {Threei}  chart is not giving any upside signals, and stomach doesn't say selling

[14:24] {dino} -12% in 9 trade days

[14:24] {geo} gld spike

[14:24] {Threei}  with very decent performance up to this point, don't want to spoil it

[14:25] {Threei}  so, staying away if new selling wave hitas, and ready to look for upward signals if tide changes

[14:25] {dino} i have to revse my dji zero call from 5 weeks to 24 days at this pace

[14:25] {Threei}  lol dino

[14:25] {fernp} lol

[14:26] {patience} i'm just waiting for price of POT to drop another 8 bucks...and dino, dow at 4,000 by the summer?

[14:26] {dino} could happen

[14:26] {dino} but stay away from the drugs, ok

[14:27] {Threei}  don't know about DJI dino, but FAS is definitely seeong zero as a magnet {G}

[14:27] {nemo} I wasn't going there.

06[14:27] * geo is giddy about gold

[14:27] {nemo} Let's hope FAZ pulls an Icarus real soon

[14:28] {Threei}  what is spot gold now?

[14:28] {geo} spot hmmm

[14:28] {nemo} 928.3

[14:28] {Threei}  I have 928 but quotes are not reliable

[14:28] {geo} ZG is 929

[14:28] {Threei}  ok, ty

[14:29] {geo} hawkfan around?

[14:29] {geo} he should have acess to comex

[14:29] {Threei}  on a break

[14:31] {Onix} do you have a symol for the Toronto Stock Excange on Laser 

[14:31] {Onix} Vad?

[14:31] {patience} spot 928.70

[14:31] {Threei}  WFC

[14:31] {Threei}  CHAIRMAN DISLCOSES PURCHASE OF 100K SHARES

[14:31] {Threei}  I don't have TSX feed Onix

[14:31] {Onix} oh is he the brave man!

[14:31] {Threei}  need to ask for activation if you want it

[14:31] {nemo} Yeah, bought it with TARP money

[14:32] {Threei}  OK, looking at the chart now

[14:32] {Threei}  this is either last gasp before total breakdown

[14:32] {Threei}  or uptrend will be stablished after retest of the low

[14:32] {Threei}  here is retest, let's see

[14:34] {Threei} Long Setup:  AAPL  89 break break half lot

[14:34] {Onix} i mean like the DOW is $DJI & Nasdaq is $COMP  ... what is the TSX? .. not available on Laser? ... one needs the TSX feed for that hey?

[14:34] {Threei}  stop under 88.80

[14:34] {nemo} missed

[14:35] {cujo} in .03

[14:35] {Threei}  not a scalp for me, aiming for 89.40 or so

[14:35] {Threei}  with partial above .20

[14:35] {Threei}  half out .23

[14:35] {Threei}  missed frikin USB

[14:36] {Threei}  stop .95 for AAPL balance

[14:37] {Threei}  held by fingertips

[14:37] {Threei}  come on, no more shakouts

[14:37] {Onix} sorry, aapl too crazy for me

[14:37] {cujo} only in for small lot so got out whole

[14:38] {cujo} skf

[14:38] {cujo} sry. wrong window

[14:38] {nemo} geez cujo!

[14:38] {cujo} ha ha

06[14:40] * Threei is kicking market in the rear

[14:41] {nemo} careful..CAT in market...animal cruelty laws

[14:41] {Threei}  fruit are not protected

[14:42] {Threei}  I am safe kicking AAPL

[14:42] {nemo} splat all over your toes

[14:42] {Threei}  just did, lol

[14:42] {nemo} that...was under your sole

[14:44] {nemo} AAPL LOD 88.50 

[14:44] {nemo} .45

[14:45] {Threei}  stomach was right for about 10 minutes

[14:45] {Threei}  let's see what happens next

[14:45] {nemo} Puttin' on helmet and shoulder harness....where's that bottle?

[14:46] {Threei}  took .21 USB this time

[14:47] {Threei}  if this spike is as effective as last one, should go over .30

[14:47] {nemo} where was that call

[14:47] {Threei}  stop under .15

[14:47] {nemo} now

[14:48] {Threei}  nope

[14:49] {nemo} nope

[14:54] {Threei}  where are the jawboners?

[14:54] {Threei}  high time to come out and say bad bank, m2m, whatever you want, just stop the pain

[14:55] {Threei}  market posts lousy technical bounce 150 points yestareday, only to resume brutal selling next day

[14:55] {Threei}  do these guys think they have all the time in the world while people's funds of all kinds are getting decimated?

[14:56] {Threei}  breakdown

[14:58] {Threei}  snapback

[14:58] {Threei}  chaos

[15:00] {Onix} :)   :/   :O

[15:01] {Threei}  argh

[15:01] {Threei}  couldn't find guts to call USB short on 9 breakdown

[15:02] {dino}  well the 2-3 pattern fell apart today

[15:02] {nemo} Yeah, they're beatin' the women and children before they throw them  overboard today

[15:04] {cujo} ss DOW .60

[15:04] {Threei}  WHITE HOUSE SPOKESMAN: ALL STAKEHOLDERS IN AUTO INDUSTRY CRISIS WILL HAVE TO GIVE SOMETHING UP

[15:04] {Threei}  {GM F}

[15:06] {Threei}  great, Now AAPL goes

[15:07] {Threei}  right to my target

[15:08] {Threei}  so far, stomach proves right

[15:08] {Threei}  no flush

[15:08] {cujo} more time left in day...

[15:08] {cujo} :)

[15:08] {nemo} Kinda' funny how 232 points down isn't a flush

[15:09] {Threei}  yit's tongue in cheeck or you really don't understand what I mean?

[15:09] {cujo} me?

[15:09] {Threei}  no

[15:09] {nemo} I do...but we're so conditioned for every day being a siege

[15:09] {Threei}  lost fish

[15:10] {dino} risky sm l gymb .90

[15:10] {Threei}  that was a comment FROM particular point on

[15:10] {Threei}  when I say "I don't feel flush coming" I surely mean what happens nexy, not what already happend, right? {G}

[15:14] {magoo} it would be diferent if IF mkt could add to this pop right here and close strong

[15:14] {magoo} opposed to last 2 weeks

[15:15] {dino} 6 months more like it magoo, last positive month was aug. '08

[15:15] {Threei}  amazing

[15:15] {magoo} thanx {not}depressed enough

[15:16] {magoo} now M2M please news

[15:16] {Threei}  bounce is strong but won't take DJI in green

[15:16] {Threei}  NASDAQ, maybe

[15:16] {dino} bbbbbet?

[15:16] {magoo} alot of naz points

[15:16] {Threei}  b tw, most of bounce is in NASDAQ

[15:17] {Threei}  financials weigh on NYSE

[15:17] {Threei}  sharp pullback AAPL

[15:19] {magoo} bulls need to make a stand here and now

[15:19] {Threei}  worth a try AAPL

[15:19] {Threei}  .40 is closest support

[15:20] {Threei}  in .46

[15:20] {Threei}  stop under .30

[15:21] {Threei}  out .66

[15:21] {cujo} nice trade

[15:21] {cujo} i missed 

[15:21] {cujo} getting slow inmy old age

[15:22] {dawg} good call Vad ty

[15:22] {Threei}  :)

[15:25] {magoo} this felt diferent

[15:25] {magoo} thought we could power up

[15:25] {dino} gyumb stopped -.4-

[15:25] {dino} .40

[15:26] {Onix} is the DOW gonna loose 6600 this time?

[15:26] {Threei}  WHITE HOUSE ADVISOR ROMER: THE $634B FOR HEALTH CARE IN THE BUDGET IS A DOWN PAYMENT

[15:27] {dino} out lphi .64, +.49

[15:27] {Onix} gj dino!

[15:27] {Threei}  couple more comments about huge downpayments toward social programs, and you'll ask same question but with 5 handle {G}

[15:27] {nemo} It's kinda' funny.  I think already like 1/3rd of US citizens pay no Federal income tax.  Where is all this gonna' come from?

[15:27] {Threei}  I mean, with all this happening, is it something to focus on?

[15:28] {dino} top 10% which starts at only 65k

[15:28] {Threei}  fixing social ills?

[15:28] {geo} really????

[15:28] {dino} they pay like 80% of all taxes

[15:28] {geo} I didnt know i was top ten lol

[15:28] {nemo} Yeah...Now, if you're in that 1/3, why would you ever vote to pay taxes.  This country is fornicated

[15:29] {Threei}  are they so out of touch, or is it an attempt to push through extremely controversial program while population is busy looking at their 401 destruction?

[15:29] {geo} you mean 201k

[15:29] {Threei}  yeah, that

[15:29] {geo} :)

[15:29] {nemo} Socialists...they could care less if the market disappears...they're not capitalists

[15:29] {Threei}  soon-to-be 101

[15:29] {nemo} Then they'd be in charge of all the money

[15:30] {dino} bingo!

[15:30] {dino} this is a power grab by the democrats 

[15:30] {nemo} Yes...European socialism

[15:30] {nemo} and the republicans handed it to them

[15:30] {dino} push thru while distracted and don't need any republican votes

[15:31] {dino} the guy is a socialist 

[15:31] {nemo} You ever notice how Chavez makes speeches almost every day like HE does?

[15:32] {Threei}  I don't watch Venezuela TV... but I do have analogy

[15:32] {nemo} hehehehehe

[15:32] {Threei}  dear comrade Breznev

[15:32] {Threei}  held a speech today in the facory X

[15:32] {dino} he's acting like chavez, first the banks, says speculators are evil, next the autos, taxes up, etc

[15:32] {Threei}  collective farm Y

[15:32] {Threei}  department Z

[15:32] {nemo} eyebrows on that dude

[15:33] {nemo} missed USB again

[15:33] {Threei}  yeah, toguh thing to time

[15:34] {Threei}  after our first short on it I never found any decent entry

[15:34] {Threei}  not on a short nor on long side

[15:34] {nemo} Hate to say it, but Cramer might be vindicated

[15:34] {dino} but hey, i voted for bush and mccain. they said let the markets work it out

[15:34] {nemo} can't do that...too much suffering

[15:36] {nemo} down 400?

[15:36] {dino} i disagree, we would be closer to end of it

[15:36] {dino} capitalism has worked here for 200 years, the screwups must be put to death

[15:36] {dino} businesses that is

[15:36] {Threei}  my view is simple, as always

[15:37] {nemo} One of the problems is nobody is held responsible for their behavior rich, poor, politicians

[15:37] {Threei}  bear market has a good reason for its existence, and has a task to fulfill

[15:37] {Threei}  this task is cleansing

[15:37] {cujo} shakin out ponzi schemes

[15:37] {Threei}  getting rid of what is not performing

[15:37] {Threei}  firing

[15:37] {Threei}  bakrupting

[15:37] {nemo} Woha quite the ump in aapl

[15:37] {nemo} jump

[15:37] {Threei}  getting rid of dead wood.

[15:37] {nemo} whoa

[15:37] {dino} i agree 3i

[15:38] {Threei}  all these rescues prevent bear market from doing its job

[15:38] {cujo} yup. economic natural selection. 

[15:38] {Threei}  leaving dead wood floating

[15:38] {geo} Dino I am as capitalistic as the next guy bu i do believe we went too far

[15:38] {dino} they are wasting $$$ and prolonging the inevitible

[15:38] {Threei}  it can't float anyway

[15:38] {geo} i see all of this as a natural swing and counterswing of the pendulum

[15:38] {Threei}  and will sink

[15:38] {Threei}  taking a lot of taxpayers money with it

[15:38] {dino} saw my b-day again

[15:38] {Threei}  yes geo, but thewy do not allow pendulum to swing

[15:39] {nemo} that ain't a pendulum swingin, it's a wrecking ball!

[15:39] {Threei}  that's the problem

[15:39] {nemo} does aapl bounce again, or fall through support?

[15:39] {Threei}  no idea

[15:40] {dino} -5% s/p today

[15:40] {Threei}  last couple swings are totally out of whack

[15:40] {Threei}  DJI -320

[15:41] {geo} I think reagan and bush pushed the govt one way and obama will push the other...... what i hope for is a happy mean

[15:41] {geo} no guarantee that will happen though

[15:41] {dino} the happy mean was clinton...but see he liked $$$, stocks, and women

[15:41] {geo} so did jefferson dino

[15:42] {geo} personal ethics and ability are diff

[15:42] {dino} going way back

[15:42] {geo} humans dont change

[15:42] {geo} societal rules do

[15:42] {dino} what we have is carter+++++++++++

[15:42] {geo} now that i admit is scary

[15:42] {geo} remember carter was impeccable in etthics

[15:43] {geo} dint help

[15:43] {nemo} The US is economically toast because of offshoring...all these people need to be taken care of

[15:43] {dino} lol

[15:43] {dino} wroong!

[15:43] {nemo} I agree, but that's what they think

[15:43] {geo} nemo offshoring is as capitalist as it can get

[15:43] {dino} ok

[15:44] {nemo} I understand, but there is no industry left in the states

[15:44] {geo} thats my problem with capitalism as i see it in last 10 year

[15:44] {Threei}  FDIC PLANS TO CUT EMERGENCY ASSESSMENT FEE TO 10 BPS FROM THE 20 BPS ANNOUNCED ON 2/27 - ABA

[15:44] {Threei}  - Reminder: Back on 2/27 the FDIC raised its regular fee for banks to 12-16 basis points starting in April (previously 12-14 basis points) and added a 20bps special assessment.{

[15:44] {geo} off shore get ceo options

[15:44] {nemo} dino  :  http://www.counterpunch.org/roberts02242009.html

[15:44] {geo} and then indulge in financial enginnering to generate profits

[15:45] {nemo} eqzaktly

[15:45] {geo} but thats honest capitalism nemo

[15:45] {dino} you want jobs and savings, get natural gas kicking, get cars on it, etc. we have 120 years of the stuff, save 300 billion on trade offseeting oil and crete millions of jobs

[15:45] {nemo} Didd I spell that right Vad?

[15:45] {geo} i cannot support that version

[15:45] {Threei}  yes nemo, I am proud of you

[15:45] {geo} soiunds like a plan dino

[15:46] {dino} spelling on mine too

[15:46] {fernp} see you all tomorrow. Have a good evening

[15:46] {nemo} thanks...I understan Geo, but nobody practices pure "capitalism".

[15:46] {Threei}  take care fern

[15:46] {Threei}  what an unbelieavable rate of wealth destruction

[15:46] {geo} what disturbed me is that the american middle class has seen its earning power go down by 16% since 79

[15:46] {dino} oh yeah, and cut greenhouse gases too

[15:47] {Threei}  yep, that's another urgency

[15:47] {geo} ration of earning changed from 1:8 to 1:21

[15:47] {nemo} yes, because the true wealthbuilding jobs have gone offshore to lower costs.  You want a job, I can pay a Punjabi 1/3 of your slary

[15:47] {Threei}  we need to impose cup-and-trade tax asap

[15:47] {dino} out apol .40, +1.00 

[15:47] {geo} and this isnt poor to top ration

[15:47] {geo} ratio

[15:48] {Threei}  very nervous close guys, I can't read anything in this spike up - spike down

[15:48] {Threei}  just letting it expire

[15:48] {nemo} incoming...keep your head down

[15:48] {Threei}  bohica?

[15:49] {Threei}  oh and I wonder, how's president's advice to buy stocks is doing

[15:49] {geo} lol@vad

[15:49] {Threei}  btw

[15:49] {Threei}  you noticed that he said PROFITS to earnings?

[15:49] {Threei}  same mistake Buish once did

[15:49] {geo} you listen to him vad?

[15:49] {nemo} Isn't that giving investment advice...He needs to be registered.  Hell, we don't even know if he was born a US citizen

[15:50] {Threei}  and Bush got cricified for that by media

[15:50] {geo} hehehe nemo

[15:50] {Threei}  no word in this case

[15:50] {cujo} Barak got his series 7?

[15:50] {Threei}  I can only imagine what media woiuld do to Bush if he said America invented the car

[15:50] {dino} i said it during the  campaign, be careful for what you wish

[15:51] {cujo} you might just get it.

[15:51] {geo} i dont love the guy.... but i dont agree with no govt intervention....... govvt should have intervened to stop offshoring long ago

[15:51] {Threei}  well, one thing I was right about for the close

[15:51] {Threei}  no fluish

[15:51] {geo} problem is ... i dont know if he is capable or willing

[15:51] {Threei}  this is not a rosy close to be sure

[15:52] {nemo} No, I'd call it a solid roto-rootering

[15:52] {Threei}  in fact, we are bound to continue the downtrend

[15:52] {dino} perhaps another black friday

[15:52] {geo} i am just glad about the GLD rebound...... saved my bacon

[15:52] {cujo} i was thinking -400 but looks like we side stepped that one. 

[15:52] {Threei}  just breakd it down by two days cujo

[15:52] {cujo} yeah

[15:53] {cujo} i like to see the panic.  Waiting for "true capitulation."

[15:53] {Threei}  USB will be on watch tomorrow for a short

[15:53] {cujo} some real, Oh my god, grab the women and children, and gun kinda panic.

[15:53] {Threei}  it has all the markings of banks that go lower and lower every day

[15:53] {buyemsellem} roughly -400 since 3:30 yesterday

[15:54] {Threei}  and we already used that 1 per week green day

[15:54] {Threei}  on lousy 150 points

[15:54] {Threei}  we will have to ask dino to allow us one more

[15:54] {geo} i flipped my 401k to treasuries last year

[15:55] {geo} now i worry about treasuries !!!!

[15:55] {buyemsellem} yeah, weaker than last week's green day

[15:55] {dino} i just can't 3i

[15:55] {Threei}  please?

[15:55] {dino} hmmmmm

[15:55] {geo} comeone dino....

[15:55] {geo} i am votnig for you as prez

[15:55] {dino} i give you ndx green tomorrow but thats all

[15:55] {geo} cool

[15:56] {Threei}  if I wasn't scared of m2m overnight, I'd take USAB short

[15:56] {Threei}  USB

[15:57] {geo} wow regionals down 13.5 today

[15:57] {Threei}  how orinic is i... GE is green!

[15:57] {Threei}  ironic

[15:57] {buyemsellem} you could buy a USB 7.50 or 5 put

[15:58] {buyemsellem} the 5 strike is .20

[15:58] {buyemsellem} for march

[15:58] {Threei}  I don't do options

[15:58] {buyemsellem} got it

[15:58] {geo} hmmm

[15:58] {Threei}  but if I did, that would be the best approach

[15:58] {Threei}  I think

[15:58] {geo} not for me buem

[15:58] {geo} buyem

[15:58] {magoo} lil better close imo

[15:59] {geo} oh ok   .25/.26 sorry

[15:59] {dino} yeah and options exp is the 20th, so the 12th is the m2m meeting

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all

[15:59] {geo} highest open interest too

[15:59] {Threei}  we navigated through the day very well

[15:59] {geo} 200k options

[15:59] {cujo} have a good one. 

[16:00] {Threei}  tomorrow will be very interesting

[16:00] {cujo} yes

[16:00] {Threei}  have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {buyemsellem} yes, tomorrow

[16:00] {dptl} have a good evening

[16:00] {dino} thx all

[16:00] {nemo}  c ya

[16:01] {vint} good evening all

Mar 04 2009

Nice and strong day. Longs on STT, CAT (yes, that's right, CAT, after two weeks of shorting it daily), RIMM, AAPL worked nicely. A few stops of 10-15 cents magnitude could spoil the day with gainst up to 50 cents.

 

Session Time: Wed Mar 04 00:00:00 2009

[07:56] {magoo} morning

[07:57] {Threei}  Good morning

[07:57] {magoo} hi boss

[07:57] {fernp} morning all

[07:57] {Threei}  magoo, fern :)

[07:58] {magoo} vad, any recent news goog?

[08:00] {Threei}  03/04/09 06:04am

[08:00] {Threei}  [GOOG] Google Inc Price Target lowered to $420 from $440 at BofA/Merrill Lynch, maintains Buy rating

[08:00] {Threei}  - Firm discloses: it is becoming increasingly unlikely that Google will see a positive stabilization in the business in 1H09.

[08:00] {Threei}  - Firm discloses: While we think pressure is macro driven and that Google will have better EPS resiliency than the sector as a whole, our 09 EPS outlook was too optimistic. We are lowering 1Q to -6% sequential revenue growth from -2%, and 1Q adj. EPS to $4.77 from $5.08. We are lowering 2009E y/y revenue growth to 5% from 9%, and EPS by 4% to $20.35 from $21.25 (street at $21.07).

[08:07] {nemo} Hi Folks

[08:07] {Threei}  morning nemo

[08:10] {nemo} Anybody having trouble logging into LASER?

[08:11] {Threei}  ok here

[08:13] {magoo} i got right in

[08:13] {magoo} try a reboot

[08:15] {magoo} slighly worse job numbers

[08:19] {nemo} I defragged the RAM, that did it.

[08:21] {Threei}  FED'S HOENING: FED MUST REVERSE LOOSE MONETARY POLCY IN A TIMELY FASHION TO AVOID INFLATION, INFLATION SHOULD BE THE FOCUS OF FED POLICY AND NOT DEFLATION

[08:21] {Threei}  - Notes that the Fed must tighten its monetary policy 'well before' the economy has recovered

[08:22] {Threei}  sheesh.. will they agree on something finally

[08:22] {Threei}  FEB ADP EMPLOYMENT CHANGE: -697K V -630KE (LOWEST READING ON RECORD)

[08:22] {Threei}  - Prior month revised Lower from -522K to -614K

[08:23] {cosmo} just let the people refinance their loans ....geez

[08:24] {nemo} Moral hazard dude...you let them refinance on an asset that is worth less than the loan, they're likely to walk away

[08:24] {cosmo} not all

[08:25] {Threei}  not sure I get the logic...

[08:25] {cosmo} some would see the opportunity

[08:25] {cosmo} ... in time

[08:25] {Threei}  you don't let them refinance, they will HAVE to walk away

[08:25] {Threei}  you let the refinance, some will stay

[08:25] {nemo} It's the same with AIG, you just keep pouring debt, not money, down a rathole

[08:25] {Threei}  those who are not badly underwater

[08:26] {cosmo} others would be able to hold onto tenents that can't pay rent....that kinda thing...

[08:26] {nemo} What %, you still have to deal with the New Debt of all those who do leave after refinancing.  Already, over 60% of recently refinanced distressed mortgages are either in arrears or default

[08:27] {nemo} then you have to write that debt off again.  So, you write off the old debt, create new debt, and have to write it off again, all the while increasing the debt default pile

[08:27] {cosmo} it was a ponzie skeem, ya know

[08:28] {nemo} The financial system is a ponzie scheme

[08:28] {Threei}  well, by refinancing you simply rolling the debt over, not create new, right? While by refusing to refinance you force out those who can and intend to pay

[08:29] {nemo} Yes, but what you do is continue the illness by infecting new paper with it

[08:29] {nemo} I'm not saying what to do, I'm just saying the pathology will continue

[08:29] {cosmo} yea ... cut the interest in half on all those fictitious dollars... it'll work out

[08:30] {cosmo} in time

[08:31] {nemo} Yes, but you have to have the ability to continue financing debt

[08:31] {cosmo} and we learn that the hard way.... one more time

[08:32] {nemo} We never learn...that's what makes us human

[08:32] {cosmo} that's what makes us eternal....but....i need coffee

[08:33] {Threei}  [UAUA] UAL Corp Reports Feb load factor 73.2% v 74.2% y/y v 75.2% m/m

[08:33] {Threei}  - RPMs: -15.2% y/y, -11% m/m

[08:33] {Threei}  - ASM: -14% y/y, -8.2% m/m

[08:37] {Threei}  REPORTEDLY OPEC PRESIDENT NOTES HE OPPOSES ADDITIONAL SUPPLY CUT AT THE MOMENT; OTHER MEMBERS UNDECIDED

[08:38] {nemo} That would be putting fuel on the fire, or stepping on the head of a drowning man

[08:41] {Threei}  supply cut you mean?

[08:41] {nemo} yes sir

[08:42] {Threei}  well... as long as cuts are within excess of demand, they are mostly irrelevant... question is whethere they dare to start cutting beyond that

[08:43] {Threei}  that would require serious cooperation between them... something they are not famous for

[08:44] {nemo} I posit that it's at whatever level it begins to affect the futures, which is the basis on which we pay...I agree, they're getting to the "throw the women and children overboard, every man for himself, stage."  

[08:50] {dino} gm all

[08:50] {Threei}  dino :)

[08:51] {dino} :)

[08:51] {pita} gm everyone, is it a new day?

[08:51] {Threei}  ummm... looks like

[08:53] {dino} indeed pita

[08:53] {dino} i have been off w/gut calls lately, so lets call for -250 today and see what happens

[08:54] {cosmo} babies ....bathwater...everywhere.....now if PALM closes green today ...there might be some hope

[08:54] {Onix} gm all

[08:54] {Threei}  onix :)

[08:54] {Threei}  PALM posted nasty guidance yesterday after hours

[08:54] {cosmo} perfect

[08:54] {cosmo} classic

[08:55] {Threei}  [16:30] {Threei} REPORTS PRELIM Q3 R$85-90M V $158ME

[08:55] {Threei}  [16:32] {Threei} - The revenue declines vs. the companys Q2r of fiscal year 2009 and Q3 of fiscal year 2008 are the result of reduced demand for Palms maturing legacy smartphone products, the challenging economic environment and later-than-expected shipments of the Treo Pro in the United States.

[08:55] {Threei}  [16:32] {Threei} - The company expects declining revenues and continued margin pressure from its legacy product lines in the fiscal Q4

[08:55] {Threei}  let me point UAUA once again as day trade candidate for the strong day

[08:55] {dino} took aapl and rimm down w/it afterhours, but they are now up. perhaps palm specific

[08:55] {Threei}  day trade as opposite to scalp

[08:56] {cosmo} hmmm.... at least its possible

[08:57] {dino} uaua traffic fell 15% feb. fwiw

[08:57] {Threei}  yeah, I posted earlier

[08:58] {dino} ok, sorry

[08:58] {cujo} morning all

[09:00] {geo} good morning

[09:00] {Threei}  cujo, geo :)

[09:01] {cujo} Something going on with HIG

[09:01] {cujo} up 14%?

[09:01] {Threei}  03/03/09 11:50pm

[09:01] {Threei}  [HIG] The Hartford Financial Services Group Inc Reportedly, may divest most of its loss making life unit; had separate discussions with Metlife which ended in Feb

[09:01] {Threei}  - May seek to sell life unit to Canada's Sun Life.

[09:01] {dptl} good morning all

[09:01] {Threei}  dp :)

[09:01] {cujo} ah

[09:03] {cosmo} it's loss making life....sheesh

[09:07] {ese} morning

[09:07] {Threei}  ese :)

[09:08] {cosmo} CAT comes back from the dead ...one more time

[09:08] {ese} hey ya vad

[09:09] {Threei}  DRYS strong bounce

[09:09] {nemo} bilge pumps must be working

[09:10] {magoo} keep eye on RIMM..was strong in poor mkt..if mkt ally today could go

[09:10] {nemo} Mags...Larisa's not here

[09:11] {Threei}  RIMM gap is too big, need pullback or consolidation

[09:14] {nemo} HIG big jump this mornin'

[09:14] {magoo} lets kewep open mind to short FAZ if it pops back up..and mkt decides to run

[09:14] {magoo} like 100 shares for 8 points

[09:14] {Threei}  you can't short FAZ

[09:14] {cujo} you can buy GAS

[09:14] {magoo} SIGH

[09:14] {cujo} FAS

[09:15] {nemo} FAZ looks like it might jump at open

[09:15] {magoo} well fas doesnt move 

[09:15] {pita} FAS popped big yesterday only to sell off all day

[09:15] {dino}   lucked out on fdo afterhours, out +1.00

[09:15] {nemo} FAS moves, just have to play enough shares

[09:16] {magoo} as in how mucjh?

[09:16] {Threei}  US TREASURY: SERVICERS CAN BEGIN MODIFYING MORTGAGES IMMEDIATELY

[09:16] {magoo} movemt i mean?

[09:16] {nemo} It's jumpe 7% this morning

[09:16] {magoo} nah..i mean pointts}?

[09:17] {Threei}  mags... let's do the math

[09:17] {nemo} heheheheheh

[09:17] {Threei}  100 shares for 8 points as you target on FAZ is 800 bucks

[09:18] {Threei}  FAS can move 20 cents easily and just as quickly when it moves, right?

[09:19] {magoo} um...carry the two..plus 1 =?

[09:19] {nemo} By 2000 shares of FAS mags

[09:19] {magoo} in this decent to hell..my parameters are set up to max shares of 1k

[09:20] {magoo} so not buying 2k

[09:20] {cosmo} PALM pre mkt high = 7.04   ....should hold 6.90

[09:20] {nemo} well, think about this, you buy 100 shares FAZ for 7200, 1000 shares of FAS for 4100-change parameters

[09:21] {nemo} Vad can answer this more confidently, but if it's about managing the risk, it almost doesn't matter how many shares you buy as long as you maintain your stops

[09:22] {ese} correct

[09:22] {magoo} true

[09:23] {magoo} but mkts been spikey..so a 30 cent drop on 2k =600...

[09:23] {magoo} harder to control in this environmt is all saying

[09:24] {pita} Vad, watch list?

[09:25] {cosmo} PALM looks testy

[09:25] {nemo} I agree...but it's about probabilities of maintaining support and resistance.  FAZ will range about $1, so if you risk $300 a trade, you can buy 300 shares.  FAS ranges about $.15, so that's 2000 shares to risk $300...Are my calculations wrong Vad?

[09:26] {Threei}  UAUA, DRYS, HIG, STT, RIMM

[09:27] {wulff} I have no time to trade today, but wanted to say have a better day. 

[09:27] {nemo} full moon wulff?

[09:27] {wulff} full job

[09:28] {Threei}  ty weulff

[09:28] {wulff} am long FAS

[09:28] {vint} good morning all

[09:28] {Threei}  vint :)

[09:29] {dino} ty wulff

[09:29] {cosmo} open breaks maybe

[09:30] {ese} egle following DRYS

[09:31] {elepet} Good morning all.

[09:31] {Threei}  elepet :)

[09:32] {Threei} Long Setup:  STT  .25 if stays above 22

[09:32] {Threei}  half lot

[09:33] {Threei}  CEDC

[09:33] {Threei}  HEARING SHARES RAISED TO OUTPERFORM AT AVONDALE, PRICE TARGET $12 (TIMING UNCERTAIN)

[09:33] {Threei}  - likely pre-open

[09:34] {cujo} in

[09:34] {nemo} blew right by

[09:34] {magoo} in

[09:34] {magoo} ,26

[09:34] {ese} MANT dino?

[09:34] {dino} still in from yesterday

[09:34] {Onix} missed

[09:34] {dino} cedc

[09:35] {Threei}  over 1:1, half out

[09:35] {Threei}  scalpers know what to do

[09:35] {dino} feels little different today, more power

[09:35] {Threei}  true

[09:36] {dino} mcd lags

[09:36] {dino} wmt too

[09:37] {Threei}  UAUA... just had to believe

[09:37] {Threei}  over 1:2 STT

[09:37] {Threei}  full out

[09:37] {dino} vz .00 trig l sm

[09:38] {Threei}  +.50

[09:38] {magoo} out .77 TY VAD

[09:38] {Threei}  welcome

[09:38] {cujo} thanks Vad. 

[09:38] {Threei}  :)

[09:38] {buyemsellem} nice call

[09:38] {Threei}  UAUAstrong pullback

[09:39] {geo} all energy stocks ripping

[09:39] {pita} entry UAUA?

[09:39] {Threei}  impossibvle to call in time, sorry

[09:39] {cujo} thanks Vad

[09:39] {cujo} got some UAUA

[09:39] {pita} too wild

[09:39] {Threei}  got .40, sold .63

[09:39] {cujo} .55 out .69

[09:40] {Threei}  good reflexes

[09:40] {Threei}  see, if teleprts in 4.20 area for another scalp

[09:41] {dino} apol, esi

[09:41] {dino} sm l apol .00 risky

[09:42] {ese} L 200 MANT .39

[09:42] {Threei}  STT did the same, pulled right into trigger and bounced... missed that

[09:42] {dino} apol stop to .49

[09:42] {magoo} yeah..big pullbk

[09:42] {cujo} nice trade dino

[09:43] {dino} out +.43 slip

[09:43] {dino} ty

[09:43] {dino} jumpy sucker

[09:43] {Threei}  if UAUA dives from here, let it overstretch

[09:44] {Threei}  desirably into 4 area

[09:44] {elepet} question. still jetlagged and reflexes slow.  i missed original stt. if it goes back to original trigger do i buy?

[09:44] {Threei}  no, not anymore

[09:44] {Threei}  it made lower high so far

[09:46] {cujo} HIG pullback?

[09:46] {Threei}  getting interesting

[09:46] {ese} out mant .80

[09:46] {ese} +.41

[09:47] {Threei}  not ready yet

[09:47] {dino} gj

[09:47] {ese} tks dino

[09:47] {cujo} nice trade ese

[09:48] {Threei}  not sure on entry on HIG

[09:48] {dino} re-load es?

[09:48] {Threei}  kind of hectic here

[09:48] {cujo} yes

[09:48] {dino} -15 points in 4 days

[09:51] {cujo} HIG held up well vs mkt downtick here

[09:51] {dino} opening gaps 

[09:51] {pita} STT?

[09:51] {Threei}  let it drop more

[09:51] {pita} diving

[09:51] {nemo} yeah, might have another .60 down

[09:52] {nemo} HIG that is

[09:53] {Threei}  HIG is on watch for double bottom here

[09:54] {Threei}  if market resumes up, the play is most likely to look like .76 long with stop under .65

[09:54] {Threei}  ugh... late

[09:54] {Threei}  don't chase

[09:54] {geo} in .75

[09:54] {Threei}  :)

[09:55] {Threei}  now next market move will define its destiny

[09:55] {magoo} .75 here

[09:56] {magoo} more than a scalp vad?

[09:56] {magoo} over 5 i mean

[09:56] {Threei}  if goes as planned, likely to spike into 5

[09:57] {geo} had sell on .85... didnt get hit

[09:58] {Threei}  yeah, it barely touched it

[09:58] {geo} out

[09:58] {geo}  wy

[09:58] {geo} oops

[09:59] {Threei}  GE, what a collapse

[09:59] {dino} pattern has been fill the open gaps fwiw

[09:59] {magoo} STT vads..u following'

[10:00] {geo} DJ reports GE Capital credit default swaps continue to deteriorate into levels usually seen for distressed companies.

[10:00] {Threei}  yeah but I don't see a play on it here

[10:00] {cosmo} CAT nice bounce

[10:00] {Threei}  FED'S FISHER: HOLD THE MOST 'PESSIMISTIC' OUTLOOK AMONG OTHER FOMC MEMBERS; MAY HAVE TWO YEARS OF BAD GROWTH BACK TO BACK

[10:00] {Threei}  FEB ISM NON-MANUFACTURING COMPOSITE: 41.6 V 41.0E

[10:03] {dino} think we already had 2 years bad growth

[10:07] {Threei} Long Setup:  GE  .41 if stays above .30

[10:08] {cujo} invalid?

[10:08] {Threei}  if market spikes, I'd modify it

[10:08] {Threei}  .31 long with stop under .20

[10:09] {Threei}  if loses .20, leave it be for a steep selloff

[10:13] {ese} up beat market mood declining to pessimisim like yesterday

[10:13] {Threei}  CAT sharp dive into 24 - 24.20 zone will be interesting for a bounce scalp

[10:15] {nemo} Interesting....I had a subscription to a Chinese Investment newsletter...I keep track of the portfolio...Every stock in that portfolio has been in the green for the last two days

[10:17] {dino} ge 5s

[10:17] {nemo} HIG spiked down to the gap

[10:18] {nemo} When's the prez speak today?

[10:18] {Threei} Long Setup:  CAT  .12 if stays above 24

[10:18] {nemo} missed

[10:19] {elepet} in .12

[10:20] {dino} fas 52 week low

[10:21] {geo} out half .25

[10:21] {Threei}  half out .25

[10:21] {Threei}  Prez on TV

[10:21] {geo} crap

[10:21] {Threei}  your daily dose

[10:21] {geo} that dude needs to end his love affair with the tube

[10:21] {nemo} like my prediction

[10:22] {fernp} ty Vad

[10:22] {Threei}  fern :)

[10:22] {geo} out

[10:22] {geo} TY vad

[10:22] {Threei}  full out?

[10:22] {geo} yeah.... protecting morning gains

[10:22] {geo} and loose lips on tv again

[10:22] {dino} [09:59] {dino} pattern has been fill the open gaps fwiw

[10:23] {Threei}  come on... thing can go to to .40 - .50 zone in one blink, why not leave just 1/4

[10:23] {geo} booohooohoo

06[10:23] * geo whips himself

[10:25] {dino} cracks me up, jack welsch ge hero, when he was there when this crap got put on books

[10:25] {Threei}  out 1/4 more .39

[10:25] {dino} got out when getting was good

[10:25] {dptl} out cat ty....something ++ not counting

[10:25] {Threei}  out in full .46

[10:25] {geo} we can say the same for rubin weil oneal

[10:25] {Threei}  dp :)

[10:26] {geo} sigh vad.....

[10:26] {geo} happy fingers

[10:27] {dptl} did 5 cat trades today......5 out of 5 :)

[10:27] {dino} ge pushing skf up

[10:27] {Threei}  what can I say... if we started making money in CAT on a LONG side...

06[10:27] * Threei slaps dptl around a bit with a large roll of cash

[10:27] {dino} gj dp

[10:27] {dptl} :) ty

[10:27] {Threei}  24.20 breakout in the morning is my burning shame

[10:27] {geo} hmm

[10:27] {geo} kinda obvious in hindsight

[10:27] {cosmo} looks like CAT is not a defence contractor after all

[10:27] {geo} tch tch

[10:28] {buyemsellem} thanks vad on the cat great call

[10:28] {dptl} thats what i got in the morn 24.20 Vad

[10:28] {Threei}  buyem :)

[10:28] {Threei}  well... I am ashamed I missed that but proud I taught you well {G}

[10:28] {dptl} yes you did :)

[10:29] {Threei}  PIMCO'S WILLIAM GROSS: SPEAKS ON MOVEMENT OF GE SHARES -CNBC

[10:29] {Threei}  - States that market has priced in a downgrade of ratings from AAA, this cut would force certain institutional holders (including sov wealth funds) to limit their exposure

[10:29] {Threei}  - Selling remains forced and techincal

[10:29] {Threei}  - Reiterates that GE is not 'another AIG'

[10:29] {Threei}  now, when you start sharing this kind of things, I can retire, lol

[10:29] {cosmo} but it does defense work

[10:29] {cosmo} ge that is

[10:29] {geo} umm dptl... dont share

[10:30] {Threei}  GE

[10:30] {Threei}  CAPITAL RAISE SPECULATION

[10:30] {Threei}  DENIES CAPITAL RAISE AS "SPECULATION"

[10:30] {dino} dltr sm l .30

[10:34] {dino} yes cosmo, but defense is not a growth industry under obamination

[10:34] {dino} needs to split in two

[10:34] {cosmo} hmmm

[10:35] {Threei}  I wonder if anything is

[10:36] {Threei}  call me simpleton, but here is the way I see it

[10:36] {cosmo} not at first...

[10:36] {Threei}  you raise taxes on things you render undesurable and as a result you get less of those things

[10:36] {Threei}  you subsidize things you want and as a result you get more of those

[10:36] {Threei}  so

[10:37] {Threei}  during the worst market in decades we raise capital taxes

[10:37] {Threei}  during worst job market in decades we raise taxes on people who create 75% of jobs

[10:37] {cujo} yeah, doesn't seem like sound reasoning

[10:37] {Threei}  and during the worst mnaufacting/cnsumer market in decades we plan to impose artifically raised price on energy

[10:38] {cosmo} also, unused farmland rings a bell 

[10:38] {Threei}  and we are showering money of failing companies and industries

[10:38] {Threei}  whatever reasoning is behind this, the result will be the same

[10:38] {cosmo} just to keep them on overhead....sigh

[10:39] {dino} dna sm l .05

[10:39] {Threei}  you can't overrule narture laws

[10:39] {Threei}  and stimulation or suppressing of certain behavior by the means of taxation will work by those laws

[10:40] {Threei}  so... forgive me for not being convinced

[10:41] {Threei}  ok... little pullback, then next leg up

[10:41] {cosmo} have unused ag land grow hemp i say

[10:41] {Threei}  watch RIMM for pullback into .70 area

[10:41] {Threei}  for long entry

[10:42] {Threei}  CAT seriously overshot our exit area

[10:42] {Threei}  ohg well

[10:43] {Threei}  we got a good move out of it, I am not ready to hold for hours just yet

[10:44] {Threei}  quite shallow pullback RIMM

[10:44] {Threei}  I would still prefer pullback over break, but if market spikes...

[10:44] {Threei}  .85 closest support so far for a stop placement

[10:45] {Threei}  with 40 break being obvious trigger

[10:45] {Threei}  (US) TREASURY SEC GEITHNER: REMAINS OPEN TO OTHER METHODS TO REFORM HEALTH CARE

[10:45] {Threei}  yeah, that's your first priority right now timmy

[10:46] {cosmo} fill up that "B ship" maybe

[10:47] {dino} wow apol pullback

[10:48] {Threei}  - Toxic debt plan is coming in next few weeks

[10:48] {Threei}  - Details of public/private program due in next few weeks as well

[10:48] {Threei}  market is shaping up for a stronger upward push but talking heads need to shut up

[10:48] {Threei}  and we had just one speech so far

[10:48] {dptl} in rimm .03

[10:48] {Threei}  so market anticipates couple more

[10:49] {Threei}  dino, on APOL

[10:49] {Threei}  WEAKNESS BEING ATTRIBUTED TO CITRON RESEARCH'S CAUTIOUS COMMENTS (TIMING UNCERTAIN)

[10:49] {Threei}  that's former stocklemon

[10:49] {Threei}  shorting outfit

[10:50] {geo} sniff

[10:50] {dptl} stopped rimm

[10:50] {cujo} stoppage on the rimmage

[10:51] {geo} rinse?

[10:51] {dino} cnbc this a.m. said he's been short it for two years. i wonder way they did not say it has tripled in two years?

[10:52] {dino} thats that "tough, in depth" reporting

[10:53] {Threei}  grr

[10:53] {Threei}  shake

[10:53] {geo} yup

[10:53] {cosmo} CAT wants more though

[10:53] {cosmo} ....sorry

[10:53] {magoo} STT vad

[10:55] {dawg} Thanks magoo on STT another order of bacon for you

[10:56] {magoo} :)

[10:56] {magoo} .30 cents off mnmention'

[10:56] {dawg} yessir

[10:57] {magoo} dunno wjhere vad went

[10:57] {geo} :)

06[10:57] * Threei slaps magoo around a bit with a large trout

[10:58] {magoo} can u change that to slab oof bacon

[10:58] {dawg} two slabs coming right up

06[10:58] * Threei slaps magoo around a bit with a large slab of bacon

[10:58] {magoo} ty

[10:58] {Threei}  but fish is good for you too

[10:58] {Threei}  not as good as bacon admittedly

[10:59] {cosmo} its a good use for bacon

[10:59] {magoo} GE vad

[11:01] {Threei}  (UK) PM BROWN: SEEKING TO GAIN COOPERATION TO LOWER OFFSHORE TAX HEAVENS

[11:01] {cosmo} underwater?

[11:01] {geo} ok rimm paid back

[11:02] {Threei}  took it on pullback?

[11:02] {geo} y

[11:02] {geo} and spy was rising

[11:02] {magoo} damm STT

[11:03] {cosmo} our first obamarally?

[11:03] {Threei}  you mean despite?

[11:04] {cosmo} thinking...

[11:04] {Threei}  careful

[11:04] {cosmo} yea

[11:04] {Threei}  serious headache ensues

[11:04] {cosmo} i use imitrex

[11:05] {geo} target .5 on rimm vad?

[11:05] {dino} dltr stop to .69

[11:05] {Threei}  market dependent geo

[11:05] {dino} mant es, falling

[11:05] {Threei}  can go much higher just as well

[11:06] {dino} dltr tyo .79

[11:06] {dino} to

[11:07] {geo} half out .51 RIMM

[11:07] {dino} out dltr .79, +.49

[11:08] {dino} apol whoosh in the making

[11:08] {Threei}  tempted to short it but volatility is horrific

[11:10] {Threei}  DRYS... resurrectio?

[11:10] {cujo} ruptura?

[11:11] {Threei}  let's try small shares APOL .70 breakdown?

[11:12] {cujo} stop .00?

[11:12] {Threei}  if stays below 70

[11:12] {Threei}  invalidated

[11:13] {Threei}  sigh of relief

[11:13] {Threei}  lopl

[11:14] {dino} you wanted to short apol?

[11:14] {Threei}  yeah

[11:14] {Threei}  still do, but can't find a reasonable entry

[11:14] {dino} waiting long at 68.41

[11:17] {dino} cgrb

[11:18] {Threei}  USD/CAD

[11:18] {Threei}  RBS: USD MAY APPRECIATE IN THE NEXT COMING MONTHS

[11:18] {Threei}  yes please

[11:19] {dino} nooooooooo

[11:20] {Threei}  come on dino... against CAD only

[11:20] {Threei}  don't care about anything else

[11:20] {cujo} u trade forex vad?

[11:20] {Threei}  no

[11:20] {Threei}  I live in Canada :)

[11:21] {Threei}  and making money in USD, converison to weaker CAD adds significantly

[11:21] {geo} comeon vad be patriotic

[11:21] {Threei}  I am

[11:21] {geo} CAD should be the strongest !!!

[11:21] {Threei}  weak CAD is good for Canada

[11:22] {Threei}  its rally killed maufacturing

[11:22] {geo} i mean hollywood patriotic

[11:22] {cosmo} we be financial patriots, i thought

[11:23] {geo} choppy pnl so far

[11:23] {magoo} about today..what copncerns me is 13 out oif 14 sessions we tank 100 - 300 points

[11:23] {magoo} today cant even get 140 up

[11:24] {magoo} mkt still 6850 area

[11:24] {Threei}  so we are still in downtrend

[11:24] {Threei}  not really breaking news

[11:24] {Threei}  enjoy bounce while it lasts

[11:24] {magoo} yup..BUT...we do not get the equivalant up like we used to

[11:25] {magoo} remember down 500...then up 500

[11:25] {Threei}  yes... see,

[11:25] {Threei}  that was the moment when market felt like bottoming out

[11:25] {Threei}  and huge volatility reflected that

[11:25] {magoo} like 9000 area i think

[11:25] {Threei}  Since then situation changed

[11:25] {Threei}  market doesn't like cujrrent policies,

[11:26] {Threei}  does't feel there is a business-friendly climate in works

[11:26] {Threei}  and doesn't see serious measures cacpable of turning things around being implemented

[11:26] {Threei}  So it votes by establishing downtrend

[11:27] {Threei}  and weakness of the bounces just reinforces it

[11:27] {geo} we dont like onix anymore

[11:27] {geo} ?

[11:28] {geo} j/k

[11:28] {Threei}  not when he misspelss his own username

[11:28] {geo} heheh

[11:28] {Threei}  miOnix? :)

[11:28] {geo} its like he was talking to mirc

[11:28] {geo} me onix

[11:28] {Threei}  lol

[11:31] {Onix} kicked out, but i'm back!:D

[11:32] {Threei}  for your entertainment Onix:

[11:32] {Threei}  [11:27] {geo} we dont like onix anymore

[11:32] {Threei}  [11:27] {geo} ?

[11:32] {Threei}  [11:28] {geo} j/k

[11:32] {Threei}  [11:28] {Threei} not when he misspelss his own username

[11:32] {Threei}  [11:28] {geo} heheh

[11:32] {Threei}  [11:28] {Threei} miOnix? :)

[11:32] {Threei}  [11:28] {geo} its like he was talking to mirc

[11:32] {Threei}  [11:28] {geo} me onix

[11:34] {Onix} you wanna make me cry :P

[11:35] {geo} nice PBR JBE

[11:37] {Threei}  things slowed down

[11:44] {dino}  pbr's haven't had in awhile, should grab a case

[11:45] {geo} :)

[11:46] {dino} kind of a spring time thing for me, that and schaeffer (as its the one to have when having more than one)

[11:48] {dino} mant sm risky l .01

[11:48] {dino} apol lod

[11:49] {magoo} we in anything??

[11:51] {Threei}  APOL down a dollar from that trigger

[11:51] {Threei}  too bad it invalidated

[11:52] {dino} mant stop is .72 fwiw

[11:52] {dino} stopped

[11:55] {Threei}  STT formed nice resistance to break at .50

[11:55] {Threei}  if market spikes sharply, aggressive entry in order

[11:57] {Threei}  got .41

[11:57] {Threei}  stop under .30

[12:01] {dptl} in.43

[12:03] {Threei}  no go

[12:03] {cujo} stoppage

[12:03] {dptl} stopped

[12:03] {fernp} stopped

[12:03] {dawg} stopped

[12:03] {Onix} i like that yellow CAT much better than STT

[12:06] {dino} mant big rinse

[12:13] {Threei}  US TREASURY SEC GEITHNER: MORTGAGE RATE AND TREASURY SPREADS NEED TO DECLINE

[12:13] {dino} v sm risky wide apol l .30

[12:16] {nemo} shortt STT below 20?

[12:16] {nemo} 22

[12:16] {Threei}  ssmallish shares

[12:16] {geo} wow flush

[12:18] {dino} esi coming into support 

[12:19] {Threei}  1:1 STT short

[12:20] {dino} gj

[12:21] {Threei}  CAT is amazingly strong

[12:25] {nemo} have to believe in my calls...scalped for very small shares

[12:25] {Threei}  yeah, hit 1:2

[12:26] {nemo} CAT decided to roll over a bit

[12:28] {Threei}  .11 long CAT for a scalp

[12:28] {Threei}  stop is obvious

[12:29] {nemo} in

[12:29] {magoo} 25.97?

[12:30] {Threei}  loss of 26

[12:30] {magoo} ok..just wanted to see if i srtill had any common sense

[12:32] {nemo} kick the frickin' cat

[12:33] {Threei}  can't

[12:33] {Threei}  animal cruelty laws

[12:33] {Threei}  no go

[12:33] {geo} umm caterpillars exempt

[12:34] {nemo} What STT giveth, CAT taketh away

[12:34] {geo} down for the day here..... I need to stop churning

[12:34] {Threei}  wow

[12:34] {geo} as in take less of my calls :)

[12:35] {Threei}  how do you manage to have a down day with wins like 50 cents and stops 10-15?

[12:35] {Threei}  oh, I see

[12:35] {geo} [09:34] {geo} as in take less of my calls :)

[12:35] {geo} or atleast keep em 100 share trials

[12:36] {magoo} my quotes been very clunky all week..any others with this prob in laser?

[12:37] {magoo} i have recent version 336

[12:37] {geo} 336 here and seems fine

[12:37] {Threei}  fine here mags

[12:37] {magoo} is there something i should check?

[12:37] {magoo} mine are stuck right now

[12:37] {Threei}  but your connection is shaky judging from how you and dino get disconnected from the room at the same time now and then

[12:38] {nemo} traitorous pet

[12:38] {magoo} thinking its our side

[12:38] {geo} stop downloading prn while trading magoo

[12:39] {nemo} viruses, adware, sticky keyboard

[12:39] {magoo} vad..i cant execute arca orders..message"No MaxFloor on PL" u know how fix that? i do all orders thru inet

[12:39] {magoo} isld

[12:39] {Threei}  huh?

[12:39] {magoo} [12:38] {geo} stop downloading prn while trading magoo

[12:39] {magoo} [12:39] {nemo} viruses, adwarbut when i do that mkt goes up

[12:40] {geo} CNI strong

[12:40] {Threei}  if you have ISLD designated, what ARCA message have to do with your order?

[12:40] {Threei}  you checked Route on/off and picked ISLD?

[12:40] {magoo} i just switched it to arca in my route 

[12:40] {magoo} u mean cant do both?

[12:41] {Threei}  ummm... you talked about common sense a bit earlier... :)

[12:41] {Threei}  how can it do both at the same time?

[12:41] {magoo} how can i have both?i must go to settings?

[12:42] {Threei}  one of us is losing his marbles

[12:42] {geo} you can route out to arca and make arca priority magoo

[12:42] {Threei}  {Threei} how can it do both at the same time?

[12:42] {geo} but cant do both i think

[12:43] {magoo} ok..in trade settings i have route out inet checked, rte out arca ched rte out edga and edgx checked

[12:43] {Threei}  route out must be checked for all

[12:43] {Threei}  it's a different setting, has nothing to do with your primary routing

[12:43] {magoo} bats too?

[12:44] {Threei}  it simply means that when you pick that route, it will hit all others, not just its own book

[12:44] {Threei}  so check them all and forget it

[12:44] {magoo} bats too?

[12:44] {Threei}  {-- crying

[12:44] {dptl} lol

[12:44] {magoo} no listen..u now see my settings

[12:45] {magoo} i go to trade screen w/buy sel;l buttons and route pop up

[12:45] {magoo} change to arca..get that wording

[12:45] {Threei}  why?

[12:46] {magoo} now im crying...

[12:46] {Threei}  leave Island as a main route for listed stocks

[12:46] {Threei}  uncheck route on/off for nasdaq

[12:46] {Threei}  that's it

[12:46] {magoo} wheres  that rte on/off ? im using diferent screen

[12:47] {magoo} my lev 2 has only SELL CANX ALL BUY

[12:47] {Threei}  then you don't have it

[12:47] {Threei}  swicth to one I use

[12:47] {Threei}  that I showed you earlier

[12:47] {Threei}  and you will have that checkbox

[12:47] {magoo} more comfortable with this one

[12:48] {magoo} but i guess then on this one u can only choose island?

[12:48] {Threei}  I don't know, I don't use that screen

[12:48] {magoo} ok..sorry..thought it was a easy setting

[12:49] {magoo} see, why have the rte pop up if none worx

[12:49] {Threei}  FED'S LOCKHART: STILL EXPECTS GRADUAL RECOVERY IN SECOND HALF OF 2009, WARNS OF TROUBLE IN COMMERCIAL REAL ESTATE

[12:49] {Threei}  - Credit markets remain stressed overall, some recovery has taken place in parts of credit sector.

[12:49] {Threei}  - Fed is prepared to do more to help the economy, notes that further emergency lending is tied to health of markets.

[12:49] {Threei}  - Most commercial real estate in the US is under stress, pressures in commercial real estate are cause for concern.

[12:49] {Threei}  - Real estate issues could complicate the recovery.

[12:49] {Threei}  - Recent economic data has been discouraging, provides little reason to be positive about the immediate future

[12:52] {nemo} Where's the ledge...

[12:53] {nemo} for a green day it doesn't feel very postive

[12:53] {nemo} positive

[12:53] {Threei}  it did while we were going up

[12:53] {Threei}  we are locked into tight range with slightly negative bias for what now

[12:54] {Threei}  hour and half - two hours

[12:54] {Threei}  yeah, from 11:30

[12:54] {nemo} hit the high around 9:40 actually

[12:55] {Threei}  hmm?

[12:55] {Threei}  not on my chart

[12:55] {Threei}  11:36, and retested at 11:58

[12:56] {nemo} right 11:10 but it backtracked between 9:40 and then headed back to the highs around 10:30

[12:58] {magoo} kinda my point

[12:58] {magoo} the down days are relentless..remember monday

[13:03] {nemo} CAT's really coughin' it up

[13:04] {magoo} i like to see this mkt powrup hard at 2 pm like to 300 points

[13:05] {magoo} and close upward 

[13:06] {Threei}  could be tough to do mags... we had just one speech today

[13:06] {Threei}  another can come any minute and finish the destruction

[13:06] {nemo} stop or enhance?

[13:07] {Threei}  enhance

[13:07] {Threei}  what all speeches lately do

[13:07] {nemo} ahhhhh...ragnaroc coming

[13:07] {Threei}  btw, cosmo was right about PALM

[13:08] {magoo} yea vad..not saying it will develope

[13:08] {magoo} tell u though..very bad if we close red

[13:08] {Threei}  well... depends on what's bad

[13:08] {Threei}  see... my conviction is,

[13:09] {Threei}  we will see a lot more of downside anyway

[13:09] {Threei}  so why not do it now

[13:09] {Threei}  we have two options here

[13:09] {Threei}  one is, let's have serious flush and be done with it

[13:09] {Threei}  another is, let's have a relief rally now,

[13:10] {Threei}  then slide back down and crash

[13:10] {Threei}  honestly, I'd prefer latter :)

[13:10] {Threei}  umm

[13:10] {Threei}  sorry

[13:10] {Threei}  former

[13:10] {buyemsellem} Are you willing to guess at a bottom?

[13:10] {Threei}  nope

[13:11] {buyemsellem} I like the people that have called five or six bottoms already

[13:11] {Threei}  we have 999 our 1000 of market commentators doing that

[13:11] {buyemsellem} no kidding

[13:11] {Threei}  out of 1000

[13:11] {Threei}  even president joined them yesterday

[13:11] {Threei}  let me be that one left who says:

[13:11] {Threei}  I have no idea where the bottom is,

[13:11] {Threei}  and those who say they do are full of it

[13:12] {Threei}  they will call bottom 15 times,

[13:12] {Threei}  they will be wrong 14

[13:12] {Threei}  you will never hear from them about those 14

[13:12] {Threei}  but they will tout that last one till no end

[13:13] {Threei}  last year - year and half proved one thing:

[13:13] {Threei}  no one had a grip on the events development

[13:13] {Threei}  literally no one

[13:13] {Threei}  it's high time for them all to shut up and stop making predictions

[13:16] {buyemsellem} amen

[13:17] {nemo} unfortunately that's what they get paid to do

[13:17] {Threei}  let them... just don't believe any of them

[13:17] {Threei}  they have no clue

[13:18] {nemo} I don't even watch

[13:18] {Threei}  neither do we, but we don't pretend

[13:18] {Threei}  we take it trade by trade

[13:20] {Threei}  APOL non stop

[13:25] {Threei}  guy at CNN probably heard us talking about his ilk

[13:25] {Threei}  preaches "market is down 50%, time to buy"

[13:30] {nemo} Yeah, the P/E ratios are great

[13:33] {Threei}  trying to get a feel for the eod direction

[13:33] {Threei}  rally or fizzle out

[13:34] {Threei}  FED'S LOCKHART: NOT WORRIED ABOUT PROPECT FOR INFLATION RISING IN THE NEAR TERM; WILL NEED TO RAISE RATES WHEN ECONOMY BEGINS TO RECOVER - Q&A

[13:34] {Threei}  - Notes is optimistic that bad assets from banks can be removed from their balance sheets

[13:34] {Threei}  tell us how

[13:35] {Threei}  I suspect if you guys knew how to remove them you'd have done it ,long ago

[13:35] {nemo} yeah, we fund them

[13:36] {nemo} Well, you're a canuck...WE fund them

[13:36] {nemo} and you buy our debt :)

[13:40] {dino}  ntrs smackdown

[13:41] {Threei}  PREVIEW: FED'S BEIGE BOOK SURVEY OF REGIONAL ECONOMIC CONDITIONS TO BE RELEASED AT 2PMET

[13:42] {Threei}  i'd guess it's rather blak book

[13:42] {nemo} Bad...badder...worse

[13:42] {Threei}  black

[13:42] {nemo} bleak

[13:42] {nemo} morose

[13:42] {nemo} moribun

[13:42] {nemo} moribund

[13:42] {nemo} malfeasant

[13:42] {nemo} malevolent

[13:42] {nemo} machiavellian

[13:44] {Threei}  keepin half eye on DRIV

[13:44] {dino} will the recent pattern hold?

[13:46] {magoo} 2 pm has been the kick off of late

[13:47] {magoo} but up or down dunno...gotta ask cnbc announcer for that

[13:47] {Threei}  lol

[13:49] {dino} need to get another magic 8 ball

[13:49] {nemo} I need to get out from behind the 8 ball

[13:51] {dino} this week, me too

[13:51] {nemo} actually, need to have it surgically removed

[13:52] {magoo} if If mkt were to blast off watch SPY

[13:52] {cujo} spy

[13:52] {cujo} why?

[13:53] {magoo} kind of a tell 

[13:53] {cujo} so SPY will lead a bit?

[13:54] {magoo} yup

[13:54] {cujo} will keep an eye on it

[13:56] {magoo} how many eyes u got?

[13:58] {cujo} 2.5

[13:59] {magoo} oh u good then

[13:59] {nemo} see those tails on spy?

[14:00] {Threei}  RIG sharp down

[14:00] {Threei}  FED'S BEIGE BOOK: ECONOMIC CONDITIONS WORSENED, US ECONOMY ERODED FURTHER THROUGH LATE FEBURARY; NEAR TERM PROSPECTS POOR

[14:00] {Threei}  no really?

[14:01] {magoo} i need get copy of that book

[14:01] {magoo} lol

[14:02] {Threei}  Auto sales execptionally sluggish, Housing in the 'doldrums', mortgage demand was depressed

[14:02] {Threei}  - Notes that unemployment up broadly

[14:02] {Threei}  - No pickup expected until late 2009 or early 2010

[14:02] {dino} must6 they announce the same thing day after day. it is quite obvious what is happening

[14:02] {nemo} hehehehe wait till 2012

[14:02] {Threei}  yeah, that's extremely observant on their part

[14:03] {Threei}  frikin DRIV just cntinues climbing

[14:03] {Threei}  no pullback

[14:03] {nemo} what is driv?

[14:04] {nemo} nevermind

[14:04] {magoo} HIG green..any significance inb that vad?

[14:05] {Threei}  most of stocks green...

[14:05] {magoo} buying coming in

[14:05] {Threei}  - Spending remains low, with price pressures continuing to ease through a broad range of products

[14:05] {Threei}  - Philadelphia and Chicago note economic conditions have not deteriorated significantly, yet econmies remains weak

[14:06] {magoo} SPY breaks 72.05 we gonna get"high high"lol

[14:07] {magoo} thats from movie platoon 

[14:07] {nemo} thanks Barnes

[14:08] {nemo} SPY and FAS creepin' up

[14:08] {magoo} long spy here .60

[14:09] {magoo} looking for more than scalp

[14:09] {magoo} needs mkt

[14:09] {magoo} needs ally better put

[14:09] {geo} i thought spy was market

06[14:09] * geo hides

[14:09] {magoo} it is

[14:09] {magoo} [14:09] {magoo} needs ally better put

[14:09] {nemo} spy is S&P 500 etf

[14:10] {magoo} but it trades fast

[14:10] {magoo} read on GS vad???

[14:10] {dawg} SPY scalp ty magoo another slab of bacon for you

[14:10] {magoo} too late soorry boss

[14:12] {magoo} someone wake vad..thiongs starting to move here

[14:12] {magoo} kick him if u must

06[14:12] * geo slaps Threei around a bit with a large trout

[14:12] {geo} fish is good for you he said

[14:13] {Threei}  sigh

[14:13] {Threei}  relax, will ya

[14:13] {Threei}  5 points move NQ

[14:13] {Threei}  nothing really followed it

[14:13] {Threei}  RIMM is in place

[14:13] {Threei}  CAT in place

[14:13] {magoo} just doin  my job here

[14:14] {Threei}  GS, if pulls back into .50 will be inetersting

[14:15] {magoo} if goog pulls in 116 area interesting too

[14:16] {buyemsellem} that would be interesting

[14:16] {Threei}  if market spikes, AAPL .15 long

[14:16] {buyemsellem} i wonder what the NQ would be at that point

[14:17] {magoo} in

[14:17] {cujo} i'm in

[14:17] {cujo} .16 stop at .98

[14:17] {cujo} actually, stop at .94

[14:18] {Threei}  1:1 in a hurry

[14:20] {dawg} good call Vad AAPL ty

[14:20] {cujo} good call Vad

[14:20] {Threei}  welcome

[14:21] {magoo} ty aapl

[14:23] {Threei}  lol

[14:23] {Threei}  JPM

[14:23] {Threei}  HEARING DEFENDED AT MORGAN STANLEY

[14:23] {Threei}  uhhu

[14:24] {Threei}  I can just see banks putting their wagons in circle

[14:25] {Threei}  GS in the center, distributing riffles

[14:25] {Threei}  women dragging LEH's body

[14:25] {Threei}  kiddies are forbidden to look ar Bear Sterns

[14:26] {Threei}  wounded C giving out last words of wisdom

[14:27] {Threei}  BAC putting band-aids on the fresh wounds with grim determination on the face

[14:32] {dino} out vz .10, all day for a dime, sheesh

[14:32] {Threei}  lol

[14:32] {Threei}  too much like work eh?

[14:33] {dino} yeah

[14:33] {Threei}  still can't get a feel for the eod direction

[14:33] {cujo} i'm going out on a limbe here, but i'm guessing flat

[14:33] {cujo} limb

[14:34] {buyemsellem} you can't call it going out on a limb unless you predict that it's going up

[14:35] {nemo} think he was being ironical

[14:37] {cujo} i'm not sure what i mean

[14:37] {dino} i understand

[14:37] {nemo} well, you are rabid

[14:37] {cujo} :)

[14:38] {nemo} saw that woman from the movie not too long ago...that movie was loooong ago

[14:41] {dino} dna stop to .41

[14:41] {dino} all day

[14:42] {dino} out +.36

[14:43] {dino} cpla sm l .20

[14:43] {fernp} gj dino

[14:44] {dino} ty

[14:44] {Threei}  ok... up it is for next couple legs, IMO

[14:48] {dino} cpla stopped

[14:48] {Threei}  AAPL long .10 if holding 92

[14:48] {dino} man, i am off this week

[14:48] {Threei}  over 1:1

[14:48] {Threei}  gotta be frikishly fast

[14:49] {nemo} yeah, frustratin'

[14:49] {Threei}  anyone caught it?

[14:49] {cujo} nope

[14:49] {nemo} cujo?

[14:49] {cujo} sry

[14:49] {buyemsellem} got caught daydreaming

[14:49] {Threei}  just don't chase

[14:49] {Threei}  it's all just scalps

[14:49] {nemo} too old to chase...wait till they walk by and hit em with a baseball bat

[14:49] {Threei}  and no re-entry on the way back

[14:50] {geo} fxp seems to have an interesting correlation to spy

[14:50] {buyemsellem} yup

[14:50] {Threei}  each trade should be evaluated on its own at this time

[14:52] {geo} ahhh... finally crept back into green

[14:52] {Threei}  not easy to be green eh?

[14:52] {geo} not today for me no

[14:53] {nemo} Geezus...sesame street?

[14:53] {geo} rising fxp on way down

[14:54] {geo} riding

[14:54] {buyemsellem} interesting, or maybe not, that FAS is red

[14:54] {Threei}  disconnection of finnies from the market

[14:55] {Threei}  or more precisely, compartmentalizing

[14:55] {nemo} how do I swim without finnies?

[14:55] {Threei}  swim with chips

[14:55] {nemo} how do I hold them?

[14:55] {geo} chips as in semis?

06[14:55] * geo head hurts

[14:56] {nemo} Geo, look at my name

[14:56] {geo} true

06[14:56] * geo stands enlightened

[14:56] {Threei}  insane captain of a submarine... or lost fish

[14:56] {geo} comon fxp break 36 !!!

[14:57] {nemo} or guy who pokes cyclops eye out

[14:57] {Threei}  no read again

[14:58] {nemo} didn't mean your eye...

[14:58] {Threei}  lol

[14:58] {Threei}  I have 17

[14:58] {Threei}  just don't tell anyone

[14:58] {nemo} much be an expensive visit to the optometrist

[14:58] {geo} sheesh out fxp

[14:58] {dptl} ok..have a good evening all

[14:59] {Threei}  take care dp

[14:59] {cosmo} 17 ...that's odd

[14:59] {Threei}  NVDA

[14:59] {Threei}  CONSIDERING ENTERING THE X86 COMPUTER MARKET - WSJ

[14:59] {nemo} cosmo, don't leave tht one out there

[15:00] {cosmo} uh .... well its also prime

[15:00] {dino} well that was the 2-3 rally, now 3-4?

[15:00] {Threei}  (US) HOUSE FINANCIAL SERVICES SUBCOMMITTEE IS REPORTEDLY EXPECTED TO HOLD A HEARING ON MARK-TO-MARKET ACCOUNTING ON MARCH 12 - UNCONFIRMED REPORT

[15:00] {Threei}  {XLF}

[15:00] {Threei}  this is what propped FAS just now

[15:01] {dino} betcha

[15:01] {Threei}  Reportedly SEC accounting chief and FASB chief will be asked to testify before the subcommittee

[15:01] {buyemsellem} easily biggest volume of day

[15:02] {Threei}  on what?

[15:02] {buyemsellem} FAS

[15:02] {Threei}  not yet

[15:02] {buyemsellem} minute chart

[15:02] {dino} m2m  buyem

[15:02] {Threei}  oh

[15:02] {Threei}  yes

[15:02] {buyemsellem} yup

[15:03] {Threei}  if they announce abolishment of m2m, market explodes

[15:03] {Threei}  even this mention showing that they discuss it did

[15:03] {Threei}  on a small scale

[15:03] {nemo} Funny, it still doesn't make any difference, you still don't know what anything is worth

[15:04] {Threei}  doesn't really matter at the moment

[15:04] {nemo} no, this is the matrix

[15:04] {Threei}  it takes huge weight off the balance sheet

[15:04] {dino} deck s .59 sm

[15:05] {geo} MFE insteresting chart

[15:05] {dino} exactly 3i

[15:05] {Threei}  I love this line in the budget

[15:06] {Threei}  pigs odor research

[15:06] {Threei}  1.7 mil

[15:06] {geo} i think thats for SEC to sniff out CEOs :)

[15:06] {dino} sort of like sitting by magoo

[15:07] {geo} oooooh

[15:07] {cosmo} seems to be a bank investigation

[15:07] {cosmo} ... that 1.7 mil

[15:07] {dino} these rinses are big and killing me, cpla

[15:08] {Threei}  by the way, before market got active again

[15:09] {Threei}  mags... you remember you owe me watching a movie Fallen?

[15:09] {nemo} Azazel

[15:09] {magoo} huh?

[15:09] {cujo} Fallen good movie... 

[15:09] {geo} thats an interesting debt vad

[15:10] {magoo} title "Fallen"

06[15:10] * Threei slaps magoo around a bit with a large bottle of memory refreshing drug

[15:10] {geo} good movie

[15:10] {cujo} Anyone see "Lord of War"?

[15:10] {geo} man exited fxp too soon

[15:10] {Threei}  you and dino

[15:10] {nemo} yes

[15:10] {geo} any "learning to hold" drug vad?

[15:10] {Threei}  if you like storm of the century you are going to love fallen

[15:10] {nemo} rimm Vad?

[15:11] {magoo} a horror movie?

[15:11] {Threei}  not sure about RIMM

[15:11] {Threei}  market switched focus back to financials it seems

[15:11] {magoo} gs read?

[15:11] {Threei}  up

[15:12] {Threei}  if can get a pullback to .50 or under would be much safer

[15:12] {Threei}  but judging from FAS buying, not going to happen

[15:13] {dino} deck cov. stopped

[15:13] {geo} fxp gicing a nice scalp lag to spy vad

[15:13] {geo} giving

[15:13] {Threei}  see how RIMM is still there

[15:13] {Threei}  while FAS, GS, STT all go

[15:14] {nemo} yes

[15:14] {Threei}  15:11] {Threei} market switched focus back to financials it seems

[15:14] {magoo} tough on entries

[15:14] {magoo} darn

[15:14] {Threei}  pullback in order now, not too deep

[15:14] {Threei}  then another spike

[15:15] {Threei}  STT, probably .40 - .50 zone

[15:16] {magoo} wish GS would pullbk

[15:16] {magoo} 2 points from when i asked u

[15:17] {nemo} seems market is betting on m2m

[15:18] {magoo} vad pointed out many times...mkt just looking for any news at all that resembles positive

[15:19] {dino} why do you think obama's taking all of the bank common

[15:19] {magoo} prob is these kind of spikes are tough to enter..get left behind

[15:19] {dino} m2m gone, banks rock, fixed game

[15:19] {geo} summers

[15:20] {cosmo} and then down with that $25K rule...

[15:20] {Threei}  I'd put it this way nemo: this is what market wants to hear

[15:20] {magoo} they wont help traders...the govt really hates us

[15:20] {cosmo} sigh

[15:21] {magoo} cos..a sponsor of the trader tax yesterday was interviewed

[15:21] {magoo} was told iot would hurt small individual traders

[15:21] {Threei}  imbecil

[15:21] {cosmo} we help keep a stable market

[15:21] {Threei}  he thinks pension funds won't care?

[15:21] {magoo} he shrugged said who cares about daytraders..offer no economic value whjatsoever and they ruined mkt...NO SHIT

[15:21] {Threei}  hedge funds?

[15:22] {Threei}  mutuasl funds?

[15:22] {geo} I am sure the big boys will get exemption bad

[15:22] {geo} vad

[15:22] {Threei}  how do you draw the line?

[15:22] {Threei}  and what about online brokerages? whole industry

[15:22] {magoo} u should have seen this

[15:22] {Threei}  what, you forbid self-directed accounts?

[15:22] {geo} the way i see it worst case we will have to get series and join a exchange member prop

[15:23] {magoo} i tell u..if the law makers in majority are anyway near his opinion we f'ed

[15:23] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=abNkskpey.4I

[15:24] {dino} apol last try sm l .40

[15:24] {geo} wow gs

[15:24] {Threei}  decimate is right word

[15:24] {geo} feel yyour pain magoo

[15:25] {magoo} i gotta make like half mill BEFORE they pass that tax vad...so get to work

[15:26] {Threei}  then you have a lifetime for that magoo

[15:26] {Threei}  it won't happen

[15:26] {geo} england has it

[15:26] {Threei}  and if it does, making money will be your last problem

[15:26] {geo} but it has all sort of loopholes

[15:26] {dino} anything can happen

[15:26] {nemo} Barney Frank says it's off the table for at least the next 4 years.

[15:26] {magoo} get to work anyway rofllol

[15:26] {dino} barney was off the table

[15:27] {magoo} barney was "nder" the table dino

[15:27] {Threei}  http://www.realitytrader.com/blog/2009/02/securities-tax-proposal.html

[15:27] {dino} that idiot got us here, i control fmn, fre

[15:27] {Threei}  too bad they gave so much time till hearing... March 12

[15:28] {magoo} then we need equal idiot to lead us out i think

[15:28] {Threei}  if it was tomorrows, FAS would have been at 5 already

[15:28] {magoo} HIG really reversed

[15:30] {geo} woooo

[15:31] {cosmo} last half hour needs better volume .... i think

[15:32] {dino} apol stop to .95

[15:32] {nemo} or is this going to be like the rest and cruise into the close

[15:33] {Threei}  I don't know... feels different

[15:33] {dino} out apol .05, +.65

[15:34] {Threei}  wtg

[15:34] {magoo} feels like strong close

[15:34] {magoo} just a feeling

[15:35] {dino} deck rinsed 

[15:35] {Threei}  yes mags but we still have 30 minutes for another speech

[15:35] {nemo} if it close now it woul be strong

[15:35] {magoo} oh shit..because we didnt have 2 already today..forgot him

[15:35] {Threei}  yup, just one

[15:36] {nemo} He'll probably come on and talk about how wonderfully the market is doing

[15:36] {buyemsellem} he would advise the nation to sell into the rally

[15:37] {buyemsellem} for a nice profit from when he said to buy

[15:37] {Threei}  and claimed the title of headtrader in chief?

[15:38] {geo}   so much cynicism

[15:38] {Threei}  UBS

[15:38] {Threei}  US SENATOR LEVIN (D): UBS HAS AGREED TO TURN OVER THE NAMES OF 300 CLIENTS TO THE IRS

[15:38] {Threei}  - UBS will not turn over any more info beyond these 300 names after the US Govt was seeking in excess of 50K names

[15:38] {Threei}  - Reminder: Back on 2/18 UBS settled an SEC suit claiming UBS took $380M of "ill gotten" gains by acting as an unregistered brokerage and advisor to US clients and pledged to name about 250 account holders.

[15:38] {Threei}  how do they pick those 300?

[15:38] {Threei}  lottery?

[15:39] {geo} the poorest ones who didnt pay enough fees to UBS?

[15:39] {cosmo} they watch who's sell now

[15:39] {cosmo} selling

[15:40] {geo} heheheh

[15:40] {geo} C almost a penny stock

[15:40] {geo} been banking there for 15+ years

[15:41] {cosmo} they need you now

[15:43] {cosmo} i bot one of their cars once

[15:43] {cosmo} the Dart

[15:43] {cosmo} miss it

[15:47] {nemo} wiedersehen

[15:48] {nemo} see ya mornin'

[15:48] {Threei}  take care nemo

[15:48] {dino} cya nemo

[15:49] {Threei}  we have 12 more minute not to fizzle out

[15:49] {Threei}  PALM

[15:49] {Threei}  S&P CUTS RATINGS

[15:50] {dino} little late

[15:50] {Threei}  (AU) AUSTRALIAN PM: THERE IS NO STOPPING THE GLOBAL ECONOMIC STORM, EXPECTS UNEMPLOYMENT TO WORSEN

[15:50] {Threei}  no stopping eh

[15:51] {Threei}  ehat kind of defeatist talk is that

[15:51] {dino} it's perpetual. it will never end

[15:51] {dino} :)

[15:51] {Threei}  yup... unemployemtn will rise to 100%

[15:52] {Threei}  and above

[15:52] {cosmo} its to make you afraid, i'm afraid

[15:52] {magoo} shitty cl.ose

[15:52] {magoo} AGAIBN

[15:52] {Threei}  come on mags

[15:52] {dino} seems to me the guy should join the unemployed w/that thinking

[15:53] {magoo} its selling hard vad

[15:53] {magoo} lost 60 points

[15:53] {Threei}  nothing of the scale we saw

[15:53] {Threei}  just slight profit taking

[15:54] {Threei}  and btw

[15:54] {Threei}  what are you fdoing here still, instead of going to rent Fallen?

[15:54] {magoo} is it about trading?

[15:54] {Threei}  lol, no

[15:55] {cosmo} fallen down?

[15:55] {magoo} is it about magoo drinking?

[15:56] {Threei}  oh just go watch it already

[15:56] {dino} taking a little apol overnight

[15:56] {magoo} joke..magoo drinks..he fallks down

[15:56] {magoo} ask fdino

[15:56] {dino} and esi if it hits lod

[15:57] {dino} he's lucky he's like a tigger

[15:58] {magoo} see..i just think the psychology of this close isnt grewat

[15:58] {magoo} gave back 90

[15:59] {dino} nor is your mental health

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all, that was a fair day

[15:59] {magoo} ty vad

[15:59] {Threei}  have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {fernp} good evening 

[16:00] {buyemsellem} thanks, have a good evening

[16:00] {vint} good evening all

[16:01] {dino} thx all

[16:01] {cujo} c ya all