Mar 11 2009

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

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

[08:51] {magoo} morning

[08:52] {Threei}  good morning

[08:52] {dptl} good morning

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

[08:52] {Threei}  d :)

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

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

[08:53] {magoo} really

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

[08:57] {Onix} Good morning

[08:57] {Threei}  onix :)

[08:58] {pita} morning all

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

[08:59] {Threei}  pita :)

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

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

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

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

[09:01] {Threei}  BCON

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

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

[09:05] {KSystems} Hi!

[09:05] {Threei}  ks :)

[09:05] {dino} gm all

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

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

[09:07] {Threei}  dino :)

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

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

[09:08] {ese} morning all

[09:10] {dino} :)\

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

[09:12] {Threei}  ese :)

[09:12] {ese} morning vad

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

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

[09:14] {Threei}  where is al gore

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

[09:16] {geo} good morning

[09:16] {Threei}  geo :)

[09:17] {ese} geo

[09:18] {tomg} good morning

[09:19] {Threei}  tom :)

[09:23] {dino} seems too giddy

[09:23] {Threei}  yeah

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

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

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

[09:24] {pita} watching what?

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

[09:24] {Threei}  FAS, WFC, BAC

[09:24] {Threei}  USB

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

[09:25] {cosmo} yeah ... 

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

[09:26] {magoo} week

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

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

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

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

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

[09:28] {Threei}  FAS liking it

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

[09:30] {Threei}  then sizeable bounce

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

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

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

[09:33] {nemo} umbrella today?

[09:33] {Threei}  quite posasible

[09:33] {Threei}  3.90 nearest support

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

[09:34] {magoo} pretty  good pull

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

[09:34] {ese} i'm likin 

[09:34] {ese} fas 

[09:34] {ese} as well

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

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

[09:35] {magoo} lol

[09:35] {dino} mcd

[09:35] {dino} ice

[09:35] {nemo} next support 3.75

[09:36] {Threei}  .81 long

[09:36] {Threei}  in

[09:36] {Threei}  .74 stop

[09:36] {geo} in

[09:36] {nemo} in

[09:36] {Threei}  missed STT... crap

[09:37] {magoo} in

[09:37] {geo} out half

[09:37] {Threei}  out half .93

[09:38] {Threei}  out 1/4 more 4.01

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

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

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

[09:39] {Threei}  welcome mags

[09:40] {fernp} Hello everybody

[09:40] {Threei}  fern :)

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

[09:40] {Threei}  geo :)

[09:41] {Threei}  out last piece

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

[09:41] {Threei}  pita :)

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

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

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

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

[09:47] {Threei}  pullback time

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

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

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

[09:49] {magoo} ok

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

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

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

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

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

[09:50] {magoo} futes going up

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

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

[09:51] {Threei}  stop under .35 mags

[09:52] {magoo} out

[09:53] {magoo} lil early

[09:53] {Threei}  on both sides

[09:54] {magoo} yea

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

[09:59] {Threei}  pullbacks look better

[10:00] {magoo} traders uncertain here

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

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

[10:01] {geo} invalid?

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

[10:02] {Threei}  yes

[10:02] {Threei}  hmmm

[10:02] {geo} ban magoo

[10:02] {Threei}  restrict volatility?

[10:02] {geo} yup

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

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

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

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

[10:05] {Threei}  WFC setup is back

[10:06] {nemo} in

[10:06] {geo}   you in vad?

[10:07] {cujo} in

[10:07] {Threei}  yes

[10:07] {geo} stop?

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

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

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

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

[10:07] {geo} :)

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

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

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

[10:09] {cujo} stop

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

[10:15] {vint} good morning everyone

[10:15] {magoo} vint:)

[10:15] {Threei}  vint :)

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

[10:18] {Threei}  and no real selloff

[10:19] {Threei}  ok, FAS

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

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

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

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

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

[10:21] {cujo} in

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

[10:21] {magoo} stop .94

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

[10:22] {magoo} toughie

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

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

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

[10:24] {ese} in FAS

[10:25] {ese} .24

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

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

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

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

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

[10:25] {Threei}  ok guys, game plan

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

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

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

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

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

[10:26] {magoo} which vad?

[10:26] {magoo} FAS?

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

[10:27] {magoo} i WFC too

[10:27] {Threei}  4.50?

[10:27] {magoo} in .35

[10:27] {geo} USB ripping

[10:27] {magoo} wfc there now

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

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

[10:27] {magoo} oh SHIT

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

[10:28] {magoo} 12.50 lol

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

[10:28] {magoo} ROFLOL

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

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

[10:29] {Threei}  USB, I am crying

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

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

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

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

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

[10:31] {geo} stop

[10:31] {magoo} ESE

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

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

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

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

[10:32] {magoo} out ESE

[10:32] {magoo} .69

[10:32] {magoo} look for pullbk

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

[10:32] {Threei}  with original stop

[10:32] {magoo} out FASTY BOSS

[10:32] {Threei}  welcome

[10:32] {magoo} sorry confuision

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

[10:33] {Threei}  I can read magooish

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

[10:33] {magoo} ESE?

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

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

[10:33] {Threei}  what's to miss

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

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

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

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

[10:37] {dino} pcln

[10:39] {magoo} JPM drilled vad

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

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

[10:40] {magoo} POWER UP

[10:40] {magoo} lol

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

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

[10:42] {Threei}  yup

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

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

[10:44] {Threei}  yes

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

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

[10:45] {Threei}  stop is under .10

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

[10:46] {pita} ty

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

[10:47] {Threei}  not holding

[10:47] {Threei}  oh well

[10:48] {Threei}  look at WFC selloff

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

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

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

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

[10:52] {fernp} stop 8.87?

[10:52] {magoo} in

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

[10:52] {Threei}  for the rest .89

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

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

[10:54] {dino} lol

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

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

[10:55] {cosmo} i think

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

[10:57] {dino} pcln?

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

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

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

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

[10:59] {Threei}  {OWW PCLN}

[10:59] {geo} thanks

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

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

[11:01] {Threei}  pres on TV

[11:02] {Threei}  Shapiro

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

[11:02] {wulff} in ge

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

[11:03] {Threei}  neither do I

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

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

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

[11:05] {Threei}  vividly cosmo

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

[11:06] {Threei}  yup

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

[11:06] {cosmo} oh

[11:06] {geo} not happenning

[11:06] {Threei}  nope

[11:06] {nemo} thanks geollum

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

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

[11:07] {Threei}  no wonder

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

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

[11:09] {nemo} financials are flatlining

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

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

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

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

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

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

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

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

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

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

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

[11:14] {geo} lots of air

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

[11:15] {fernp} no worky GE

[11:15] {dino} 76?\

[11:15] {geo} cool same here

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

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

[11:15] {geo} but scary stock

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

[11:16] {dino} hard stop 75

[11:16] {dino} ty

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

[11:17] {geo} me too

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

[11:17] {geo} ok out

[11:17] {geo} same here

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

[11:17] {geo} hehehehe

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

[11:18] {dino} gj geo

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

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

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

[11:18] {geo} wasnt

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

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

[11:19] {dino} looks like it

[11:19] {dino} 73.60s

[11:20] {dino} 74.60 i mean

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

[11:20] {dino} careful mkt drop

[11:21] {dino} sds major rinse

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

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

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

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

[11:24] {dino} ty

[11:24] {geo} darn 76 dinoo

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

[11:24] {Threei}  prez on TV

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

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

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

[11:27] {dino} roflol

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

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

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

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

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

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

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

[11:32] {dino} socialist or worse

[11:32] {Threei}  EFC

[11:32] {Threei}  WFC

[11:33] {Threei}  back in day's low

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

[11:33] {Threei}  .81 long

[11:33] {Threei}  .75 stop

[11:34] {Threei}  no go

[11:35] {Threei}  wow

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

[11:37] {Threei}  take care ese

[11:38] {ese} see ya vad

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

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

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

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

[11:54] {Threei}  all is well?

[11:56] {dino} axys

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

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

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

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

[12:06] {dino} somebody knows something

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

[12:07] {Threei}  huh?

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

[12:11] {Threei}  03/11/09 11:44am

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

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

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

[12:12] {Threei}  serious selloff MCK

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

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

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

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

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

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

[12:14] {wulff} ok

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

[12:14] {nemo} psychotic

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

[12:16] {Threei}  GS new high

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

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

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

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

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

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

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

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

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

[12:27] {dptl} ok ty

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

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

[12:28] {dptl} ty

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

[12:31] {Threei}  EBS stays near low

[12:31] {dptl} yes

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

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

[12:41] {Threei}  I hate CAT today

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

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

[12:43] {Threei}  can't get it right

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

[13:00] {Threei}  1:1, covering half

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

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

[13:04] {dino} what was the point of the big feb 10th mtg

[13:04] {Threei}  well dino... up to couple days ago appointments, Timmy was home alone

[13:05] {Threei}  kind of tough to regulate whole financial sector when you don't have anyone to type the letter for you

[13:11] {dino} hmmmm

[13:13] {Threei}  fern, thank you for MPP review

[13:14] {fernp} welcome

[13:14] {nemo} you out vad?

[13:14] {Threei}  ?

[13:14] {nemo} wfc

[13:14] {Threei}  oh, second half

[13:14] {dino} sm l cmtl .03

[13:14] {nemo} yes

[13:14] {Threei}  sure, stop trails to above b/e after 1:1

[13:16] {Threei}  anyone shorted EBS on 17 break?

[13:16] {Threei}  almost 70 cents

[13:17] {Threei}  dp??

[13:18] {dptl} no missed it was ivolved with ads for +.20...and mised entry

[13:18] {Threei}  great... not only no one pays attention, even one who asks the question pays no attention to answer... lol

[13:19] {Threei}  anyway, look at the difference in behavior between EBS and NFLX

[13:19] {dptl} :) ye was waiting waiting and mised didnt want to chase it

[13:23] {Threei}  US TREASURY'S KASHKARI: CONCERNED OVER PROPECTS THAT THE BANKS MAY NOT DESIRE TARP CAPITAL

[13:23] {Threei}  huh?

[13:23] {Threei}  what the heck is going on today

[13:24] {Threei}  comments seem to be from some other universe

[13:24] {nemo} Bizzaro World

[13:24] {Threei}  how the fact that banks are so healthy that they don't need/want taxpayers money can be troubling?

[13:25] {cosmo} maybe its to avoid being nationalized

[13:26] {Threei}  there are so many logical fallacies and inconsitencies in that, I don't even know where to begin

[13:26] {Threei}  just one:

[13:26] {Threei}  so he is concerned that banks may not want to be nationalized?

[13:27] {cosmo} or maybe to avoid interfering with the forclosure process

[13:28] {Threei}  you guys need that midterm election NOW

[13:28] {Threei}  not in 2010

[13:28] {cosmo} dunno here ... spinning my wheels too

[13:28] {Threei}  and you know the names to throw out, right?

[13:28] {cosmo} yep

[13:29] {Threei}  starting with 8 tax-happy folks

[13:29] {nemo} Doesn't matter, nobody understands who to elect...

[13:29] {Threei}  and ending with "FRE and FNM will do what I tell them to do" bloke

[13:29] {nemo} Plus, you have to deal w/statistical distribution of the electorate's intelligence

[13:30] {cosmo} as well as retention incentives

[13:30] {nemo} what immodium?

[13:31] {dino} well, thats what won him the election, the inner cities

[13:31] {Threei}  yeah... as old joke goes, "Total of the intelligence on tha planet is constant... while population increases"...

[13:31] {Threei}  hey guys, guess what

[13:31] {Threei}  Prez on TV

[13:31] {cosmo} oh

[13:32] {fernp} Venezuela tv?

06[13:32] * Threei quietly dissolves in the night

[13:32] {nemo} I was just gonna' say, but thought...nah...6 times in one day too much

[13:32] {cosmo} 6?

[13:32] {Threei}  3rd time today

[13:32] {dptl} he is tv star now

[13:32] {nemo} joke

[13:33] {nemo} but I thought it was only the 2nd....sheesh

[13:33] {Threei}  JPM CEO: BANK STRESS TESTS WILL BE 'VALUABLE'; WILL DETERMINE WHICH BANKS ARE HEALTHY AND WHICH ARE NOT

[13:33] {cosmo} seems more like 1/2 dozen

[13:33] {Threei}  yeah... too bad we will never know

[13:34] {ese} yo back for a litle bit....everybody filthy stinky rich yet??   

[13:34] {dptl} how about sivb short?

[13:35] {nemo} Hey guys, wanna see a great email?

[13:35] {ese} go for it

[13:35] {nemo} I  became confused when I heard the word 'service'  used with these agencies. 

[13:35] {nemo} Internal Revenue  'Service' 

[13:35] {nemo} U.S. Postal  'Service' 

[13:35] {nemo} Telephone 'Service' 

[13:35] {nemo} Cable TV 'Service'  

[13:35] {nemo} Civil  'Service' 

[13:35] {nemo} State, City, County & Public   'Service' 

[13:35] {nemo} Customer 'Service' 

[13:35] {nemo} This is not what I  thought 'service' meant 

[13:35] {nemo} But today, I overheard two farmers talking, 

[13:35] {nemo} and one of them said he had hired a bull to 'service' a few cows. 

[13:35] {nemo} BAM!!!  It all came into focus.

[13:35] {nemo} Now  I understand what all those agencies are doing to us.  

[13:35] {nemo} Now you are as enlightened as I am.

[13:36] {ese} ha ha ha.....perfect

[13:36] {fernp} lol

[13:36] {cosmo} yea... its some cult terminology after al ...sheesh

[13:36] {cosmo} all

[13:39] {nemo} Vad WFC long if it breaks .60?

[13:39] {nemo} damn missed it

[13:39] {Threei}  wait for pullback

[13:40] {nemo} I ain't no hero

[13:40] {Threei}  this starts feeling like new leg up is forming

[13:40] {Threei}  market sat quietly

[13:40] {Threei}  discouraged longs

[13:40] {Threei}  now starts new assault on encouraged shorts

[13:40] {nemo} Figures, gotta' leave soon

[13:41] {nemo} woulda' been a nice sclap

[13:41] {nemo} scalp

[13:41] {Threei}  yes but market spike came out of nowhere

[13:41] {Threei}  was impossible to anticipate

[13:42] {Threei}  what we can do though is use it as an indication of intentions

[13:43] {cosmo} its the nature of the service...

[13:43] {Threei}  .60 is support now

[13:43] {Threei}  pullback closer to is should be an entry

[13:44] {Threei}  in

[13:44] {Threei}  for scalpers stop under .60

[13:44] {Threei}  for a day trade,, under .50

[13:47] {dino} cmtl stopped

[13:51] {nemo} out

[13:52] {Threei}  JPM CEO: TIME FOR 'NEW IDEAS' IS OVER; MORTGAGE MODIFICATION PLAN IS 'APPROPRIATE' - Q&A

[13:52] {Threei}  PREVIEW: FEB MONTHLY BUDGET STATEMENT DUE OUT AT 2PMET

[13:52] {Threei}  **consensus expectation: -$205Be v -$175.6B

[13:52] {nemo} I'll bet their's a negotiation to save their asses if they agree to that

[13:53] {nemo} That is...in the new regulatory framework

[13:55] {Threei}  market is hesitating before the budget statement

[13:55] {Threei}  if number is any good, should explode

[13:55] {nemo} Don't think it will be or they would have leaked it

[13:55] {Threei}  I use "good" in a very loose sense

[13:55] {nemo} understood...back to the leper only losing a toe today

[13:56] {Threei}  right

[14:00] {Threei}  half out WFC

[14:00] {Threei}  *FEB MONTHLY BUDGET STATEMENT: -$192.8B V -$205BE

[14:02] {Threei}  hmmm... I'd expect more from that

[14:02] {nemo} no trust

[14:03] {nemo} Cat looks like it might want to go short

[14:04] {Threei}  out WFC second half .79

[14:04] {nemo} Actually, multiply those numbers by 12, maybe that's what sunk in.

[14:05] {Threei}  +.16

[14:05] {Threei}  this is pathetic

[14:06] {nemo} That's better than a 2 trillion $ deficit

[14:07] {nemo} greater, that is

[14:07] {Threei}  FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS

[14:07] {Threei}  who said it was?

[14:09] {nemo} Notice how disjointed the news is getting?

[14:09] {Threei}  state of high confusion?

[14:09] {nemo} Yes...

[14:11] {nemo} anybody take that CAT short?

[14:11] {Threei}  gotta try another scalp on WFC, using FAS as lead

[14:12] {Threei}  in .57

[14:13] {Threei}  funny stop, .54

[14:16] {Threei}  nope

[14:17] {Threei}  FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS

[14:17] {Threei}  - Admits there "are some problems" with fair-value accounting.

[14:17] {Threei}  - Plans to offer guidance very shortly on whether market is "active or inactive."

[14:21] {Threei}  so, all their blabbing took market negative so far

[14:21] {Threei}  aren't they good at it

[14:34] {Threei}  time for eod projections

[14:34] {Threei}  mags?

[14:34] {magoo} down

[14:34] {Threei}  dino, got an input?

[14:35] {nemo} flat

[14:35] {dino} down big tomorrow

[14:35] {nemo} but one could argue flat is down

[14:35] {dino} or up is down on opposit day

[14:36] {nemo} an here comes the rally

[14:36] {Threei}  thwe what?

[14:36] {dino} maxim hot 100 on vh1

[14:36] {nemo} 'ally

[14:37] {dino} alxn

[14:37] {cosmo} followed by the intictments...

[14:37] {Threei}  lol

[14:37] {cosmo} then more 'ally

[14:37] {nemo} then the prez

[14:39] {magoo} going to restroom to see if push mkts up

[14:41] {Threei}  that's one wasted restroom trip

[14:41] {nemo} probably not from mags point of view

[14:42] {magoo} bacxk

[14:42] {magoo} ALRIGHT

[14:42] {cosmo} wtg

[14:45] {nemo} RIM if breaks 40.10?

[14:45] {dino} airm

[14:45] {nemo} RIMM

[14:46] {Threei}  CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC

[14:46] {Threei}  squeze or fizzle?

[14:47] {Threei}  not delighted by idea of buying RIMM after this spike

[14:47] {Threei}  if consolidatwes a bit and then breaks, maybe

[14:48] {nemo} even if it breaks resistance?

[14:48] {Threei}  it spiked into resistance

[14:48] {nemo} spikes just to sporadic?

[14:48] {nemo} no, if it get's through resistance?

[14:49] {Threei}  I don't buy break of resistance if a stock spiked into it

[14:49] {nemo} o.k. cool

[14:49] {dino} profitable in what line of business, i don't buy it

[14:49] {nemo} excuse me Dino?

[14:50] {Threei}  if it goes through consolidation etwee, 40.10 and some support close enough, then it's a buy

[14:50] {nemo} understand, break through, retreat a bit, hang around for awhile, then go?

[14:51] {dino} jpm profitable nemo

[14:51] {nemo} oh, but was that Dimon saying that?

[14:51] {dino} [14:46] {Threei}  CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC

[14:52] {nemo} Well, if they aren't then that's putting his head in a noose along with the Citi guy.  However, this is the last week they can sell stock before they go into the earnings black-out period

[14:53] {nemo} Look at FAS WFC RIMM, poling around resistance

[14:53] {Threei}  WFC retreats

[14:54] {Threei}  FAS too

[14:54] {nemo} FAS too...maybe

[14:54] {Threei}  RIMM looks a bit better

[14:54] {Threei}  but needs another market spike

[14:56] {cosmo} HPQ hod =28.80  fyi

[14:57] {magoo} vad..what was yours?up downfat

[14:57] {Threei}  problem with all this moves here is, they are good for 5-7 cents scalps

[14:57] {nemo} yeah, great for the broker

[14:57] {Threei}  yeah

[14:57] {Threei}  down mags

[14:57] {Threei}  I will be very surprized if we go up into close

[14:58] {Threei}  pleasantly surprized

[14:58] {Threei}  so far, it's not a market to buy 5K on a few stocks and fall asleep for hald of the day

[14:58] {Threei}  half

[14:58] {nemo} how about 10 minutes

[14:59] {Threei}  not even that

[14:59] {Threei}  we will be there

[14:59] {nemo} Markets RIMM looking weaker

[14:59] {Threei}  and those will be the days of the easiest money in months if not years

[15:00] {Threei}  but to get there we will go through some more struggle

[15:01] {cosmo} new currency maybe

[15:01] {nemo} O.K.  Moses

[15:03] {nemo} WFC back at resistance

[15:03] {nemo} C&H almost

[15:03] {Threei}  same for FAS

[15:03] {Threei}  RIMM should do a quick trip down now, to around .10

[15:04] {Threei}  should be good for a scalp

[15:04] {Threei}  US REP BOUCHER: TO PURSUE REGULATIONS ON INTERNET COMPANIES FOR PRIVACY RIGHTS

[15:05] {cosmo} rights for whom?

[15:05] {Threei}  no idea

[15:05] {cosmo} exactly

[15:08] {cosmo} HPQ tests

[15:08] {cosmo} soon

[15:09] {Threei}  US PRESIDENT OBAMA FORMALLY SIGNS $410M OMNIBUS BILL TO FUND GOVT OPERATIONS THROUGH SEPT

[15:10] {dino} v stop to .95 all dayer

[15:12] {dino} surprised he wasn't on tv for it

[15:12] {Threei}  3 times today

[15:12] {Threei}  4th would be a record

[15:13] {nemo} He's gonna give slick willie a run for his money as a camera hound

[15:14] {cosmo} he's got an easy act to follow...

[15:14] {cosmo} .. for now

[15:15] {nemo} look at this run

[15:15] {cosmo} 'un

[15:15] {nemo} 'ally

[15:16] {dino} out v .05, +.55

[15:16] {Threei}  bigger pullback this time

[15:17] {nemo} back to the river Styx

[15:20] {dino} pcln stop to .50

[15:21] {cosmo} QQQQ 28 in sight

[15:21] {Threei}  looks like all pullbacks are entries

[15:21] {dino} to .75

[15:22] {dino} out .80, +.70 hours

[15:22] {Threei}  WFC around .05 - .07

[15:23] {Threei}  if the pattern holds

[15:23] {nemo} IF?  sheesh

[15:23] {cosmo} off to the 'aces?

[15:24] {nemo} I'm the wrong person to ask

[15:24] {Threei}  in .08

[15:24] {dawg} in .07

[15:24] {dawg} half lot

[15:26] {Threei}  tried to exit half at .15, didn't get a hit

[15:26] {dawg} nada

[15:27] {magoo} in 09

[15:27] {dino} you guys really don't want chaeron here

[15:27] {Threei}  not until he rfemembers his password

[15:28] {Threei}  doesn't look encouraging

[15:29] {Threei}  out

[15:29] {nemo} no had the same formation between 14:40 and 14:50

[15:29] {dawg} out

[15:34] {nemo} This really isn't a bad market day after the insane run up yesterday.  The financials are basically up again.

[15:34] {nemo} It might be a lie, but...

[15:35] {nemo} volume a tad light, but for a "consolidation" day...might make sense

[15:36] {Threei}  I agree

[15:37] {nemo} Good...I'll go put the order in for the Lamborghini :)

[15:37] {nemo} At my local model shop, that is...

[15:39] {nemo} Gotta' go.  WFC wegdging through 12

[15:39] {nemo} wedging

[15:40] {Threei}  dawg... thing is laughing at us

[15:40] {cosmo} Qs test

[15:41] {cosmo} sorta late....

[15:41] {dawg} yessir i agree

[15:42] {Threei}  freakishly empty day for me

[15:42] {Threei}  win here stop there

[15:42] {dawg} same

[15:43] {Threei}  looking at the amount of shares I tarded today,

[15:43] {Threei}  broker must be sending flowers to me just about now

[15:43] {Threei}  and I have nothing to show for it

[15:43] {dawg} same

[15:43] {dawg} here

[15:43] {Threei}  90K shares

06[15:45] * Threei slaps laserdave around a bit with a large roll of cash

[15:49] {laserdave} hey thanks

[15:49] {laserdave} needed that

[15:49] {Threei}  market really must be changing

[15:49] {Threei}  I have these days of read being so lukewarm when some underlying currents change

[15:50] {dino} 1/4 here vad

[15:50] {Threei}  1/4?

[15:50] {dino} of daily, lasts all today, yesterday 2x

[15:50] {Threei}  oh

[15:51] {Threei}  I am flat out flat

[15:51] {dino} thought it was me, hot and cold all day

[15:51] {Threei}  but scared to even look at commissions

[15:51] {Threei}  and ECN passthroughs

[15:52] {cosmo} and other taxes

[15:52] {Threei}  what taxes?

[15:52] {dino} {10k for me no biggie

[15:52] {cosmo} oops...getting ahead

[15:52] {Threei}  way ahead

[15:52] {Threei}  I swore off taxes until 1 day after my death

[15:53] {dino} good luck w/that, they will come looking for you

[15:53] {dptl} ok...have a good evening all...

[15:54] {Threei}  on that day? They are totally welcome

[15:54] {Threei}  take care dp

[15:54] {dino} believe me, before that day

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

[15:55] {Threei}  I am sure they'll be sympathetic when I explain that I am trying to quit all bad habits

[15:56] {Threei}  and paying taxes is number one on my list

[15:56] {Threei}  I'll get to smoking as soon as I defeat this one

[15:56] {cosmo} watch out for the helicopters 3i

[15:57] {Threei}  they need to work with me by trying to deal with their addiction to my taxes as well though

[15:57] {Threei}  and I am not sure they are very good at it

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

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

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

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

[15:59] {Threei}  DJI +5

[16:00] {Threei}  as laughable as it is, second green day in a row

[16:00] {Threei}  okay guys

[16:00] {Threei}  trying day

[16:00] {cosmo} tomorrow looks good tho

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good evening

[16:01] {Threei}  see you tomorrow

[16:01] {fernp} ty Vad, Good evening all

[16:01] {vint} good evening all, see u all tomorrow

Mar 10 2009

Nice start for the day with a few winning trades on BAC, MS, CAT, PALM, WFC . The second half was lukewarm as market couldn't make up it's mind between pullback and rally continuation.                                                                                                                    

Session Time: Tue Mar 10 00:00:00 2009

[08:39] {Threei}  Good mornng

[08:39] {nemo} :)

[08:39] {dptl} good morning

[08:39] {Threei}  nemo, dp :)

[08:40] {Threei}  ok... am I the only gambler who took BAC overnight?

[08:40] {Threei}  15:59] {Threei} gambling types can take BAC home

[08:40] {Threei}  [15:59] {Threei} thank you all, have a good evening

[08:40] {Threei}  if so, then I am the only ne starting the day with +400

[08:45] {magoo} morning

[08:45] {Threei}  03/10/09 00:22am

[08:45] {Threei}  (US) FDIC's Bair: The US govt's plan to remove troubled assets from banks could force some firms to record large losses - Washington Post

[08:45] {Threei}  - Insists the plan would help restore confidence in the banking system.

[08:45] {Threei}  - Cost may exceed the $700B Congress approved to bailout the US financial system.

[08:45] {Threei}  - Government plans to invite private investors to buy troubled assets, in part by providing financing at a low cost.

[08:45] {Threei}  - The extent of the federal subsidy was still under discussion.

[08:45] {Threei}  - The administration hopes to find the right balance and announce the details within the next two weeks, according to people familiar with the matter.

[08:45] {Threei}  - The original plan to buy troubled assets faltered in part because of concerns about the cost.

[08:45] {Threei}  magoo :)

[08:46] {Threei}  mags..

[08:46] {Threei}  [08:40] {Threei} ok... am I the only gambler who took BAC overnight?

[08:46] {magoo} u had the read wfc vad..11 it is

[08:46] {Threei}  yeah but on BAC I even monetized the read

[08:47] {Threei}  USB's nice too

[08:49] {magoo} skf down 26...faz down 15

[08:49] {magoo} could today be a rea;l REAL up day?

[08:49] {magoo} u got any call for me this premkt here?

[08:50] {Threei}  no

[08:59] {pita} gm all

[08:59] {Threei}  pita :)

[09:00] {Threei}  REPORTELDY SEC WILL NOT SUSPEND MARK-TO-MARKET ACCOUNTING - UNCONFIRMED SOURCE

[09:02] {cosmo} i thought the original plan to buy troubled assets faltered in part because of  the retention incentive imperative.

[09:02] {Onix} gm all

[09:02] {cosmo} do not call them bonuses

[09:02] {Threei}  cosmo, onix :)

[09:02] {cosmo} 3i:)

[09:03] {Threei}  FED'S BERNANKE: BEGINNING TO STRENGTHEN STYSTEMICALLY IMPORTANT FIRMS - Q&A

[09:03] {nemo} well, looks like a lot of hope in the financials was the M2M suspension

[09:04] {Threei}  WFC is still going up

[09:04] {Threei}  BAC returned to the high

[09:04] {nemo} BAC too, how's C

[09:04] {Threei}  FAS is dropping

[09:04] {Threei}  well, with C's range can't even tell, lol

[09:04] {nemo} magnifying glass?

[09:05] {Threei}  yeah

[09:06] {ese} morning

[09:07] {Threei}  ese :)

[09:07] {dawg} gm all

[09:07] {ese} dawg

[09:07] {dawg} ese gm

[09:08] {Threei}  dawg :)

[09:09] {ese} theory question Vad.....are these basically the most difficult times you can go through as a trader.......and if we can make it trough this does it bode well for us?

[09:09] {ese} hard question I know

[09:09] {cosmo} AVAV gets a big air pocket

[09:10] {Threei}  second part of the question is definitely yes

[09:10] {Threei}  first, ummm

[09:10] {Threei}  it's hard to answer

[09:10] {geo} good morning

[09:10] {Threei}  geo :)

[09:10] {ese} geo

[09:10] {Threei}  first, when the market becomes difficult, it feel the most difficult ever, wvery time

[09:11] {ese} you've seen a ton of ups and downs...

[09:11] {Threei}  and second, ones experience and skill changes, so there is no fair comparison

[09:11] {cosmo} ese....i think its worse for investors

[09:11] {Threei}  on the logic level I think I have to perceive this environemnt as the most dificult

[09:11] {ese} i would agree cos

[09:12] {Threei}  but by my performance, no way

[09:12] {ese} it's impressive...thats for sure vad.

[09:12] {cosmo} it is very difficult to watch TV

[09:13] {ese} gloom and doom all the time

[09:13] {cosmo} fear

[09:13] {magoo} ben talking on m2m here

[09:14] {cosmo} ben stein?

[09:17] {Threei}  FED'S BERNANKE: BELIEVES WE ARE TAKING THE "BEST AND MOST EFFECTIVE" MEASURES TO HELP THE ECONOMY - Q&A

[09:17] {Threei}  - Fed is beginning to strengthen systemically important firms, Fed will be seeking legislation to help it regulate financial firms

[09:17] {Threei}  - Monetary policy has to be supportive during a crisis.

[09:17] {Threei}  - The downturn has surprised the Fed with its severity.

[09:17] {Threei}  - Other central banks are "following our lead" in cutting rates

[09:17] {Threei}  IF ALL GOES RIGHT, THE RECESSION COULD END IN LATE 2009; STRONGLY ENDORSES THE "PRINCIPLE" OF MARK-TO-MARKET ACCOUNTING BUT BELIEVES CURRENT CONDITIONS MAY DISTORT MARKING TO MARKET - Q&A

[09:17] {Threei}  - Believes mark-to-market accounting numbers can be misleading, must identify the weak points of mark to market.

[09:18] {ese} what is mark to market accounting?

[09:19] {cosmo} the People need to re-fi ....not eat cake

[09:22] {nemo} ese, for illiquid assets, it's a way to assign valuation to them by valuing them according to the most recent transaction.  Unfortunately, if the worst house in the neighborhood is sold, and there are no other transactions, that's the price assigned.  So, it's potentially very inaccurate, but it affects the asset values on bank's books, or in those CDOs

[09:23] {ese} got it.......

[09:23] {dino} m2m does not work well on illiquid assets

[09:23] {nemo} Yeah, kinda' my point

[09:24] {dino} :)

[09:25] {vint} good morning all

[09:26] {nemo} So, Dino...turnaround Tuesday?

[09:27] {Threei}  vint :)

[09:28] {Threei}  idally, we would have a small pullback or consolidation, the decisaive break

[09:28] {Threei}  ideally

[09:28] {Threei}  BAC, WFC

[09:28] {Threei}  STT

[09:30] {Threei}  here is pullback

[09:30] {Threei}  let's see how things are holding

[09:31] {cosmo} DRYS tests high

[09:31] {cosmo} 4.45' ish

[09:32] {ese} avav getting killed...

[09:32] {ese} cmtl also

[09:33] {Threei} Long Setup:  WFC  11.30 if holding above .15

[09:34] {nemo} wild this morning

[09:34] {Threei}  bounce of 11 is an idea now

[09:34] {Threei}  .11 long

[09:34] {Threei}  stop under 11

[09:35] {Threei}  invalidated too

[09:35] {geo} wynn strong

[09:35] {nemo} too much overnight gap maybe to keep climbing

[09:36] {fernp} Hi everybody

[09:36] {Threei}  fern :)

[09:36] {dino} feeling same nemo

[09:37] {nemo} I learned it from you...your the gapmaster :)

[09:37] {ese} bstop AVAV 19.36 small

[09:37] {dino} lol

[09:37] {Threei}  .81

[09:37] {Threei}  stop under .70

[09:37] {Threei}  1:1

[09:38] {Threei}  1:2, out

[09:39] {ese} L avav

[09:39] {ese} like that fill L .31

[09:39] {ese} out avav

[09:40] {ese} .85

[09:40] {pita} WFC ty

[09:40] {ese} +.54

[09:40] {Threei}  pita :)

[09:40] {geo} wynn break .5?

[09:40] {Threei} Long Setup:  PALM  .61 if holding above .45

[09:41] {ese} i'm likin dinos way of life.....

[09:42] {dino} ouch cmtl

[09:42] {dino} 10:00-10:10 has been pullback time lately

[09:42] {ese} dn 14 smackers now....whoaa

[09:42] {Threei}  MOODY'S: ''EMERGING'' EUROPEAN SOVEREIGNS NEEDS TO BE DIFFERENTIATED

[09:42] {Threei}  - 'Emerging'' European countries should not all be treated as if their

[09:42] {Threei}  creditworthiness were subject to uniform pressure and that concerns about

[09:42] {Threei}  the solidity of the ''Eurozone'' are greatly exaggerated.

[09:43] {geo} in 17.5 out 17.87 WYNN

[09:43] {Threei}  wtg

[09:43] {dino} gj

[09:43] {Threei}  sorry, I couldn't get to it in time

[09:44] {geo} entered on break after pullback

[09:44] {geo} seems has more juice

[09:44] {dino} tbt swing out +1.20 at 47

[09:44] {geo} nice dino

[09:44] {Threei} Long Setup:  BAC  .45

[09:44] {Threei}  if holding above .35

[09:44] {dino} ty

[09:44] {geo} wow .45 thick

[09:45] {Threei}  lol, see any thin level on it?

[09:45] {dino} cmtl seems a bit excessive

[09:45] {nemo} in

[09:46] {dino} qid  short term support around 65.30

[09:47] {ese} i'll say dino..... reports .46 v .44   whats tht a about

[09:47] {Threei}  let's trail to it under .40

[09:47] {ese} revs 143 v 151 expected

[09:47] {Threei}  pullbacks can be severe on it, don't want to get caught

[09:47] {nemo} what, BAC?

[09:47] {dino} simple minds thinking alike

[09:47] {Threei}  yes

[09:48] {geo} yeah.... struggling a little

[09:49] {geo} SEC won't seek to suspend mark-to-market, according to source - Reuters

[09:49] {geo} Reuters reports that the SEC is not planning to suspend the controversial mark-to-market accounting rule that has forced banks to report billions of dollars in asset write-downs, a source familiar with the matter told Reuters on Tuesday. Rumors have circulated that the U.S. government was planning a temporary suspension of the accounting rule, which requires financial firms to value assets at current market prices. A Congressional panel i

[09:49] {Threei}  came out at 9

[09:49] {geo} really

[09:49] {geo} :( sorry

[09:50] {dino} saw it on real$ too in cc

[09:50] {Threei}  [09:00] {Threei} REPORTELDY SEC WILL NOT SUSPEND MARK-TO-MARKET ACCOUNTING - UNCONFIRMED SOURCE

[09:50] {dino} so far no effect. would seem to me if not suspended at some point these assets are going to bring somebody a fortune

06[09:50] * geo news service sucks

[09:51] {geo}  ndaq

[09:51] {geo} wow havent seen tol strong in a while

[09:56] {magoo} we in anything besides BAC vad?

[09:56] {Threei}  pres on TV btw

[09:56] {Threei}  no

[09:56] {Threei}  1 cent shy of 1:1?

[09:57] {Threei}  come on

[09:58] {magoo} STT pullbk vad

[09:59] {magoo} MS break of .30 vad?

[09:59] {Threei}  if stays above .15

[09:59] {dino} [09:46] {dino} qid  short term support around 65.30

[09:59] {dino} hit and bounced

[10:00] {dino} es. cmtl?

[10:00] {dino} you in it

[10:00] {Threei}  JAN WHOLESALE SALES: -0.7% V -1.0%E

[10:00] {Threei}  MARCH IBD/TIPP ECONOMIC OPTIMISM: 45.3 V 43.0E

[10:01] {Threei}  MS 1:1

[10:02] {Threei}  1:2

[10:02] {Threei}  F

[10:02] {Threei}  STATES THAT 100K HYBIRD SUV HAS BEEN BUILT, SEEKS TO DOUBLE HYBRID CONSTRUCTION IN 2009

[10:02] {dino} all is well in world again

[10:03] {geo} see? i should wring my hands more often

[10:03] {Threei}  lol

[10:03] {geo} GS break of 82 who dares?

[10:03] {dino} ty geo

[10:03] {geo} broke

[10:04] {dino} gold and platinum beat down

[10:04] {geo} yeah dino... i feel the gold :( 

[10:05] {geo} green scanners going crazy

[10:06] {dino} 10:10 approaches

[10:07] {Threei}  BAC 1:1, half out or scalp, your choice

[10:07] {dino} platinum tradiong lower than gold, abnormal

[10:07] {dino} blaming it on low auuto production

[10:07] {fernp} out here ty Vad

[10:08] {dino} auto

[10:08] {Threei}  fern :)

[10:08] {nemo} me2

[10:08] {geo} out GS .6

[10:09] {dino} out cedc swing +.70

[10:09] {Threei}  if you are holding half, stop to .33

[10:09] {Threei}  sorry to .44

[10:10] {dino} wmt says "fo" to downgrade

[10:12] {nemo} Dino, is that a capital FO!?

[10:12] {geo} i think he eant vietnamese broth

[10:12] {geo} meant

[10:13] {nemo} funnny

[10:13] {geo} probably get 1/3 their stuff from there anyway

[10:13] {nemo} on a roll geo

[10:13] {geo} in PBR and bored

[10:14] {dino} yes nemo

[10:16] {dino} clickig in to 4.6% gains on s/p ndx. hmmmmmmmm

[10:16] {dino} discipline says hedge it

[10:17] {Threei}  SPOT AND APRIL GOLD DIP BELOW $900 FOR FIRST TIME IN NEARLY A MONTH

[10:17] {Threei}  GE non-stop

[10:18] {dino} dip on god cause cramer last week said buy it

[10:18] {Threei}  ah

[10:18] {Threei}  that'll do it

[10:18] {dino} swear theres a group countering his calls

[10:18] {Threei}  how can you not

[10:18] {Threei}  guy is a godsend

[10:18] {Threei}  such consistency

[10:19] {geo} http://masteroftheuniverse.wordpress.com/2008/11/14/cramer/

[10:19] {geo} "Ive seen mechanical systems that fade his picks and make a good return."

[10:20] {dino} roflol

[10:21] {geo} and this guy is  matisse/picasso/rembrandt owning level trader...... lol

[10:22] {geo} i feel like a kid in a candy store today..... so many stocks.... dont know which to play :)

[10:22] {Threei}  IMF'S STRAUSS KAHN: NATIONALIZATION IS A 'GOOD IDEA' FOR CERTAIN US BANKS

[10:23] {Threei}  imbecil

[10:23] {Threei}  BAC baby

[10:23] {Threei}  over 1:2

[10:23] {dino} i say pull their funding

[10:23] {Threei}  IMF?

[10:24] {Threei}  don't forget UN while you are at it

[10:24] {Threei}  GE is about to stage nice pullback

[10:24] {Threei}  sharp drop into 8.20, I would be interested

[10:26] {geo} CNI .5 vad?

[10:27] {Threei}  why not

[10:27] {Threei}  chart is right

[10:27] {geo} in

[10:27] {fernp} CAT pullback Vad?

[10:28] {Threei}  I'd prefer CAT lower...

[10:28] {fernp} ty

[10:29] {Threei}  let it slide

[10:29] {Threei}  not ready yet

[10:29] {Threei}  not shovel-ready

[10:30] {dino} qld not avail cyber fwiw

[10:30] {geo} MMM jbe

[10:31] {Threei}  CART selling accelerates

[10:31] {Threei}  CAT

[10:31] {fernp} I see

[10:31] {fernp} 25.50 next support?

[10:32] {dino} have to use qid, things' like pulp tho

[10:32] {Threei}  a bit too far... I doubt it will get there

[10:32] {geo} QID not available in laser too

[10:32] {Threei}  .80 held as a support so far

[10:32] {dino} long qid=2x short

[10:33] {cujo} morning, wow...  250 pts. 

[10:33] {Threei}  lost it

[10:33] {Threei}  cujo :)

[10:33] {dino} esi swing stop to 8.40

[10:33] {geo} we always have faz and skf dino :)

[10:34] {Threei}  US INTELLIGENCE REPORT: IRAN HAS NOT YET MADE DECISIONS ON CONSTRUCTION OF HIGHLY ENRICHED URANIUM

[10:34] {geo} have me made decisions to bomb em yet?

[10:34] {geo} we

[10:34] {dino} indeed geo and paris too

[10:34] {geo} :)

[10:34] {nemo} Do the whole middle east, Halliburton, and FWLT stock will go through the roof

[10:35] {Threei}  can try pullback to .80 for double bottom with .70 stop on CAT

[10:36] {nemo} GE got that sinking look

[10:36] {Threei}  yes

[10:36] {Threei}  waiting for it to drop

[10:36] {Threei}  ity's shortable btw

[10:36] {geo} hehe in from .5 TY nemo/vad

[10:37] {Threei}  lol geo

[10:37] {Threei}  stop above .60?

[10:37] {geo} y

[10:37] {Threei}  anyone got CAT?

[10:37] {Threei}  pulled back right into .80

[10:37] {fernp} in .83

[10:38] {Threei}  good reflexes

[10:38] {dino} out esi swing 109.40, +5.00

[10:38] {Threei}  eeck

[10:38] {Threei}  that's indecent dino

06[10:38] * geo thinks dino funded paris

[10:38] {dino} lucky, that was a volitile swing for 3 days

[10:39] {dino} need coffee

[10:39] {cujo} in cat .84

[10:40] {geo} GE not following PSY much

[10:40] {geo} SPY

[10:40] {Threei}  1:1 CAT

[10:40] {geo} heh

[10:40] {Threei}  1:2

[10:40] {fernp} now out 26.06

[10:40] {fernp} ty Vad

[10:40] {Threei}  good job

[10:42] {cujo} out 1/2 CAT .15

[10:43] {Threei}  pattern-based bottom fishing is very different from arbitrary knife catching eh?

[10:43] {fernp} true

[10:43] {cujo} yeah, much less sweating involved...

[10:43] {Threei}  and less pain, lol

[10:44] {Threei}  OK... so far so good

[10:44] {Threei}  no single stop

[10:44] {geo} there.... jinx

[10:44] {Threei}  and just one superstitios room member

[10:45] {geo} not true !!

[10:45] {nemo} who is it that talks about the trading gods?

06[10:45] * geo rubs rabit foot furiously

[10:45] {Threei}  lol

[10:45] {Threei}  good one

[10:45] {dino} v sm qid l .30

[10:45] {dino} wide/small

06[10:46] * nemo prepares the chicken for sacrifice

[10:46] {Threei}  anyone still has any part of BAC?

06[10:46] * geo prepares rabbit and chicken stew

[10:47] {dino} ouch genz

[10:47] {dino} air pocket

[10:47] {geo} wow news?

[10:47] {Threei}  REPORTEDLY FDA INVESTIGATORS FIND OBJECTIONABLE CONDITIONS AT PLANT

[10:47] {Threei}  yes

[10:47] {dino} genz vad?

[10:47] {Threei}  yes

[10:47] {Threei}  REPORTEDLY FDA INVESTIGATORS FIND OBJECTIONABLE CONDITIONS AT PLANT

[10:48] {dino} watch sds if s/p starts to drop imo

[10:48] {dino} ty

[10:48] {dino} cyber not showing yet

[10:48] {cujo} out last CAT .24

06[10:48] * Threei slaps cujo around a bit with a large roll of cash

[10:48] {cujo} :)

[10:49] {cujo} Thanks Vad

[10:49] {Threei}  welcome

[10:49] {dino} gj

[10:49] {fernp} gj

[10:49] {cujo} thanks all.  Glad i woke up today. 

[10:49] {Threei}  lol

[10:52] {dino} group hug for cujo, lol

06[10:53] * magoo slaps cujo around a bit with a large trout

[10:53] {nemo} stopped ge

[10:53] {cujo} i'm getting emotional...

06[10:54] * dino slaps cujo around a bit with a large trout

[10:54] {geo} reversed at .58

[10:55] {geo} made higer lows

06[10:55] * cujo has a strange craving for fish...

06[10:55] * geo slaps cujo around a bit with a large trout

[10:55] {geo} this one?

[10:57] {Threei}  WFC

[10:57] {Threei}  wsatching for dive into .90 for long entry

[10:57] {cujo} GS ss .68

[10:58] {cujo} out .51

[10:58] {dino} hitting 5% up

[11:04] {Threei}  DAL

[11:04] {Threei}  EXPECTING PROFIT IN Q2 V $0.67E, AFTER EXPECTED LOSS IN Q1 V -$0.98E - PRESENTATION

[11:04] {dino} sds gap fill from wed close

[11:05] {dino} genz continues down

[11:06] {Threei}  PALM 1:1

[11:13] {Threei}  GENZ

[11:13] {Threei}  HEARING DEFENDED AT DEUTSCHE BANK

[11:14] {Threei}  i2r!

[11:14] {Threei}  long time no see

[11:15] {i2romantis} i know :)

[11:15] {i2romantis} nice to be back

[11:15] {Threei}  you got frozen over there or what, lol

[11:15] {i2romantis} but not available much lately

[11:15] {i2romantis} something like that :)

[11:15] {i2romantis} I see reasonable rebounds

[11:15] {Threei}  look dcc please

[11:15] {i2romantis} and crazy drops over the past month

[11:22] {dino} welcome back rfr

[11:23] {Threei}  INSM

[11:23] {Threei}  FDA TO ALLOW PATIENTS WITH AMYOTROPHIC LATERAL SCLEROSIS (ALS) TO HAVE ACCESS TO IPLEX

[11:23] {Threei}  - Iplex is approved by the FDA only for the treatment of growth failure in children with severe primary IGF-1 deficiency (Primary IGFD) or with growth hormone (GH) gene deletion who have developed neutralizing antibodies to GH. The drug is currently not marketed because of a court order related to patent infringement

[11:23] {nemo} Interesting, market didn't pull back...consolidating, or....

[11:24] {dino} imo, give it time

[11:25] {nemo} I'm voyeuring as we speak...it's just breaking it's recent pattern

[11:27] {pita} ok, back from plowing/shoveling for last hour - anything on watch list?

[11:27] {geo} me loving ADM

[11:28] {Threei}  not really pita, market narrowed down very much

[11:28] {geo}  slb

[11:28] {pita} k

[11:28] {nemo} geo! were you going to tell anybody...

[11:28] {geo} oops sorry

[11:28] {geo} oh break of 28 nemo.... (dont have confidence for calls)

[11:29] {nemo} hehehehehehehe

[11:29] {dino} hod

[11:30] {geo} reminds me of your comment yesterday vad

[11:30] {Threei}  which one?

[11:31] {dino} lphi sm l .60

[11:31] {nemo} yeah, kinda' general there geo

[11:31] {dino} thinny

[11:31] {geo} [15:04] {Threei}  if you are not watching it, you WILL miss the moment when market changes

[11:31] {geo} was looking

[11:31] {Threei}  ahhh

[11:31] {dino} careful guys one day does not a bull make

[11:31] {dino} trend is still down

[11:31] {geo} not saying market changed

[11:31] {geo} but would have missed this day

[11:32] {dino} we are still under thursday levels

[11:32] {nemo} there are bull moments and bear moments in every day, I just usually get them backwards

[11:32] {geo} ADM again

[11:32] {dino} hate to see these open gaps way below

[11:33] {nemo} yeah...very scary...I hate heights

[11:34] {nemo} So, way oversold on financials, a rumor about M2M and Vikrim Pandit's word that all goes swimmingly at Citi...not a strong case for a bull run

[11:34] {Threei}  what m2m?

[11:35] {magoo} in anything here vad?

[11:35] {Threei}  wasn't it denied today?

[11:35] {geo} ah come on vad

[11:35] {geo} dont kill it

[11:35] {Threei}  no mags

[11:35] {nemo} Yes...but we want to believe

[11:35] {nemo} not really...quoting the guy from Braveheart

[11:35] {magoo} news leak saying m2m ditching wont happen

[11:35] {dino} bernie wants to "tweak" it he said

[11:38] {dino} forgot one, sm l cmtl .01

[11:43] {nemo} I guess this is your pullback

[11:44] {dino} stop is .63 fwiw

[11:46] {dino} stopped

[11:47] {dino} i'll lay out buck lower

[11:48] {Threei}  main question for the day now is,

[11:48] {Threei}  will this consolidation resolve in another upward thrust or we fizzle out

[11:49] {magoo} taking bets??

[11:49] {magoo} i say UP

[11:49] {magoo} best day for mkts in 3 months

[11:50] {Threei}  my feel is up too

[11:50] {magoo} if fizzles...i gonna slice cujos wrists with a banana

[11:50] {dino} as snoop dog would say, snizzle fizzle

[11:50] {Threei}  PLD interesting

[11:51] {Threei}  big blocks are being bought on INSM

[11:51] {Threei}  not exactly my kind of stock

[11:51] {Threei}  but if chews through 1.05, maybe has a chance

[11:51] {dino} ice goes negative

[11:52] {nemo} PLD?

[11:52] {nemo} I've got it a 6.94

[11:52] {Threei}  yes?

[11:53] {Threei}  you lost me nemo

[11:53] {nemo}  but if chews through 1.05, maybe has a chance

[11:54] {Threei}  [11:51] {Threei} big blocks are being bought on INSM

[11:54] {Threei}  [11:51] {Threei} not exactly my kind of stock

[11:54] {Threei}  [11:51] {Threei} but if chews through 1.05, maybe has a chance

[11:54] {nemo} yes, so I expected a $1 stock, I saw almost a $7 stock, wanted to make sure I hadn't fubar'd it.

[11:55] {Threei}  ummm

[11:55] {Threei}  INSM is $1 stock

[11:55] {Threei}  PLD is $7 srtock

[11:55] {nemo} Yes, now I see how I made the mistake

[11:55] {Threei}  I don't know what causes confusion here

[11:55] {dptl} so you getting insm on .05 break?

[11:56] {Threei}  with stop under 1... I guess worth a try

[11:56] {dptl} 4 lots :)

[11:56] {Threei}  US REP FRANK: MARK-TO-MARKET RULES MUST BE IMPROVED

[11:56] {Threei}  buzz is back

[11:57] {dino} somebody finally whispered to barney about m2m

[11:57] {Threei}  UAUA

[11:57] {Threei}  US APPEALS COURT REPORTEDLY UPHOLDS LOWER COURT RULING BARRING PILOTS UNION FROM ACTIONS THAT WILL INTERFERE WITH COMPANY OPERATIONS

[11:59] {Threei}  US REP FRANK: MARK-TO-MARKET RULES MUST BE IMPROVED AND MADE MORE FLEXIBLE; SEES UPTICK RULE RESTORATION IN A MONTH'S TIME

[11:59] {Threei}  - Reminder on 3/5 Frank noted that Congress should not legislate accounting rules, but that the hearing on March 12 should examine making mark-to-market accounting rules more flexible

[11:59] {dino} sm last try cmtl l .50

[12:00] {Threei}  PLD aggressive buying

[12:01] {Threei}  tough battle here, hard to read

[12:01] {nemo} spike in fas hit right on your Barney comment then died

[12:04] {nemo} What's hard to read about PLD, Vad?

[12:05] {Threei}  that exchange of jabs around 7, could resolve either way

[12:05] {nemo} ty

[12:06] {dino} i have trouble reading chineese

[12:06] {dino} and spelling it too

[12:06] {magoo} WFC vad 12 comith

[12:07] {Threei}  sharp spike

[12:07] {Threei}  need pullback to .60 or so for entry

[12:07] {magoo} right..wanted u look at it

[12:08] {magoo} man..it was a dog until i minute ago

[12:09] {dino} barney and m2m magoo, banks big on m2m change

[12:09] {magoo} yup

[12:10] {geo} man cramer has become a butt of jokes on jon stewart

[12:11] {Threei}  finger on the trigger

[12:12] {magoo} hold off

[12:12] {dptl} where wfc?

[12:12] {Threei}  .61 if holding above .50

[12:13] {magoo} in .59

[12:14] {cujo} in .62

[12:15] {geo} http://www.thedailyshow.com/video/index.jhtml?videoId=220288&title=In-Cramer-We-Trust

[12:15] {geo} in .61

[12:15] {fernp} WFC?

[12:15] {geo} y

[12:15] {dino} cmtl stopped b/e toughie

[12:16] {Threei}  half out

[12:16] {geo} hal f out .71

[12:16] {Threei}  stop to .57

[12:22] {geo} out

[12:24] {magoo} u out..?i am

[12:25] {nemo} Interesting...that looked like a pretty good sort set up those last few minutes of WFC, but stocks are fighting back toay

[12:25] {nemo} today

[12:25] {nemo} short

[12:29] {Threei}  start feeling like after some hesitation we will get another leg up

[12:29] {Threei}  fading bounces has become too common

[12:29] {Threei}  one of them should break the habit

[12:29] {Threei}  and today seems to be it

[12:30] {geo} anyone held WFC?

[12:35] {Threei}  US SEC COULD CONSIDER REINTATING UPTICK RULE AS EARLY AS NEXT MONTH - UNCONFIRMED REPORT

[12:35] {Threei}  - echoes comments from Rep. Barney Frank earlier

[12:35] {Threei}  sheesh... who cares?

[12:36] {Threei}  banning shorting on financials altogether hasn't changed anything

[12:36] {Threei}  what do they think uptick rule will change?

[12:40] {dino} mcd not participating, 

[12:41] {pita} gotta go skiing, later all....

[12:41] {dino} have fun

[12:42] {Threei}  take care pita

[12:42] {magoo} bye pita

[12:42] {pita} much fun - 9"; if you gotta shovel, might as well slide some too.  TC

[12:46] {Threei} JBE Setup:  BAC  .81 trigger .70 support

[12:53] {Threei}  CAT

[12:53] {Threei}  MINING EQUIPMENT HEAD: SEEING POSSIBILITY FOR ACQUISITIONS IN CURRENT ENVIRONMENT

[12:53] {Threei}  {JOYG BUCY}

[13:00] {Threei}  question is still there

[13:00] {Threei}  market takes a breather or done for the day

[13:00] {Threei}  ECB'S ORPHANIDES: RECENT DATA INDICATE A WORSENING OUTLOOK; DOES NOT BELIEVE EUROZONE WILL RECOVER IN 2010

[13:01] {nemo} after the big gap up and the cloudiness over m2m moves, and the Pandit obfuscation, no hope to go on.

[13:01] {magoo} UP

[13:01] {nemo} rangebound for the day

[13:02] {magoo} last hour gonna be nutsarolla

[13:02] {Threei}  great... all you left is down

[13:02] {magoo} huh?

[13:02] {Threei}  one bet on up

[13:02] {nemo} Doesn't mean you have to take it...then again might be a lot of profit to take

[13:02] {Threei}  another on sideways

[13:03] {Threei}  what's a poor peasant to do

[13:03] {nemo} ah....make money?

[13:03] {dino} dji +150; ndx +38, s/p +20

[13:04] {nemo} so you're saying down from here Dino...just bark once

[13:04] {dino} woof

[13:04] {nemo} Well Vad, looks like you're left out

[13:04] {Threei}  (JP) JAPAN IS CONSIDERING A FUND THAT WOULD PROVIDE COMPANIES WITH LOW-INTEREST LOANS

[13:04] {Threei}  they decided to override banks and lend directly?

[13:15] {dino} ice sm l .08

[13:17] {Threei}  feels like breakout is brewing

[13:17] {Threei}  ACOR

[13:17] {Threei}  HEARING RENEWED TAKEOVER CHATTER CIRCULTING

[13:19] {Threei}  if market spikes, PLD is long .90 break

[13:19] {Threei}  WFC .50 break

[13:22] {dptl} pld stop?

[13:22] {Threei}  under .80

[13:22] {dptl} ty

[13:24] {dptl} in .90

[13:26] {Threei}  US SENATOR DODD: SUPPORTS REINSTATEMENT OF UPTICK RULE BY SEC

[13:26] {Threei}  sigh

[13:26] {Threei}  who votes these cluelkess guys in?

[13:27] {dino} ice stop is lod

[13:28] {dino} they will support anything against the "evil shorts"

[13:33] {Threei}  market finally broke

[13:34] {dptl} come on pld

[13:35] {nemo} boot Vad

[13:39] {nemo} out pld

[13:39] {dptl} stopped

[13:42] {dino} getting rinsed

[13:47] {dino} unusual

[13:47] {dino} hitting my b-day on the plus side

[13:48] {Threei}  SEC SPOKESPERSON REPORTEDLY DECLINES COMMENT ON UPTICK RULE

[13:48] {Threei}  if I ever saw a red herring...

[13:49] {fernp} BAC still valid over .80, Vad?

[13:49] {Threei}  can't tell really

[13:50] {Threei}  we are not getting trending move

[13:50] {fernp} ok

[13:54] {Threei}  RIMM holding nicely during pullback

[13:55] {Threei}  .70 break long if market bounces

[13:56] {nemo} stop .50

[13:56] {Threei}  under .60

[13:57] {fernp} good read in BAC. thank you

[13:57] {Threei}  :)

[13:58] {Threei}  lol

[13:58] {Threei}  CHINESE HACKERS CRACK DIGITAL VOUCHER CODE, SELLING AAPL ITUNES GIFT CERTIFICATES - APPLE INSIDER

[13:58] {geo} ooooh

[13:58] {geo} now chinese can learn english song

[13:59] {geo} finally !

[14:00] {magoo} dont like mkt pullbk here

[14:00] {magoo} reminds me of every day this month

[14:00] {Threei}  lame performance so far

[14:00] {Threei}  no drive

[14:00] {geo} rimm still on vad?

[14:00] {nemo} well, market made big gains today, why would it keep running the way things have been going?

[14:01] {Threei}  yes geo

[14:01] {dptl} ? i am in rimm.70

[14:02] {Threei}  nemo... exactly because no one expects it?

[14:02] {nemo} good a reason as any

[14:02] {dptl} stopped

[14:02] {geo} i didnt press trigger as spy seemed sluggish

[14:03] {nemo} spy and NDX

[14:03] {geo} also like the gains of first half so extra paranoid

[14:03] {nemo} and everything else for that matter

[14:18] {Threei}  pitiful market performance so far

[14:30] {cujo} Vad, you see the new daily show clip?

[14:31] {cujo} http://www.thedailyshow.com/video/index.jhtml?videoId=220288&title=in-cramer-we-trust

[14:31] {dino} comedy central, just saw it

[14:31] {Threei}  yeah

[14:31] {cujo} even better than the first one

[14:33] {Threei}  HRLY

[14:33] {Threei}  COMPANY PLACED ITSELF FOR SALE - UNCONFIRMED REPORT

[14:35] {Threei}  11 buyer with market order thinks "what the hell happened"

[14:39] {Threei}  so... mags

[14:40] {Threei}  want to buy Harley and become a king of bikers?

[14:40] {Threei}  we will get Chaeron to invest with us

[14:40] {dino} hog = harley

[14:41] {dino} hrly aerospace company

[14:41] {Threei}  shhh dino :(

[14:41] {Threei}  I was trying to entice him by yhe idea

[14:41] {dino} hahahahahahaha

[14:41] {geo} nice save vad

[14:43] {magoo} used to owbn 1

[14:44] {Threei}  I know

[14:44] {Threei}  that's why I thought of you

[14:44] {Threei}  but dino had to get in the way with facts

[14:45] {dino} sometimes i think you guys do not appreciate me

[14:45] {dino} (and then i grab a brew)

[14:46] {Threei}  lol

[14:47] {Threei}  RIMM lives its own life today

[14:47] {dino} vadster, what do you make of ice, mcd action?

[14:47] {Threei}  (US) US TREASURY NOTES 22 BANKS RECEIVED $284.7M IN TARP CAPITAL LAST WEEK

[14:47] {dino} uthr selloff

[14:47] {Threei}  ICE puzzles me

[14:48] {Threei}  thing is on a downtrend during market uprend, and that's in advance of a huge chunk of business coming its qway

[14:48] {dino} getting a huge chunk of business. thinking mcd is the "card" act obamination pushing

[14:49] {nemo} the CDS exchange?

[14:49] {dino} yes 

[14:49] {dino} trillions

[14:49] {Threei}  card act?

[14:49] {Threei}  I am not aware

[14:49] {Threei}  argh

[14:49] {dino} ununionization act, no vote, just sign card for all workers.

[14:49] {nemo} how many shares outstanding...could be sold down to get big players in cheap

[14:49] {Threei}  you know where this seloff is coming from?

[14:50] {dino} thinking it gets voted down, but demi's pushing hard for it

[14:50] {Threei}  of course big mouth on a little guy...

[14:50] {Threei}  (US) US TREASURY SEC GEITHNER: IT WILL TAKE A WHILE TO WORK THROUGH THE CRISIS, BUT IT IS OUR OBLICATION TO FIX IT - TV INTERVIEW

[14:50] {nemo} Obama speaking again

[14:50] {nemo} close enough

[14:50] {dino} lol, i'm watching the mets

[14:50] {nemo} no Pedro Martinez this year...best signing we didn't make

[14:51] {Threei}  (US) SENATOR SHELBY (R): ANY MARK-TO-MARKET CHANGES SHOULD BE MADE BY THE SEC, NOT CONGRESS

[14:51] {Threei}  yup, let's kick the can down the road

[14:51] {dino} sec does not have authority, it's an account, fasb, issue is what i'm reading

[14:52] {Threei}  I would think that card issue should have hit WMT hard dino

[14:52] {dino} was downgraded on open off it

[14:53] {dino} mcd may just be one of those days

[14:53] {Threei}  and we wonder why market hates new administration

[14:53] {Threei}  most business-unfriendly in I don't know how long

[14:54] {dino} since jimmy

[14:55] {nemo} Yeah, but he did one good thing...took Volcker's advice on how to kill inflation, and Volcker told him it would lose him the election.

[14:56] {dino} roflol, that helped, but lost the election because of iran, straw that broke the camels' back, imo

[14:57] {nemo} one thing on top of another, yeah...he didn't have the best run

[14:57] {dino} the 70s were rough

[14:58] {dino} bud halted?

[14:59] {Threei}  didn't it get bought out by INB?

[15:00] {dino} thats right

[15:01] {Threei}  FAS new high

[15:07] {dino} ok top is near cramer going bullish

[15:07] {Threei}  uh oh

[15:07] {cujo} sell sell sell....

[15:10] {Threei}  still can't get a feeling for the close

[15:11] {magoo} UP

[15:11] {nemo} expanding range downward on NDX and SPY

[15:13] {dino} down

[15:14] {nemo} dino, you're a broken record....woof!

[15:14] {dino} lol

[15:14] {nemo} FAS looks like it wants to take a little off the top

[15:14] {dino} i just have to go against magoo\

[15:14] {Threei}  stewart/cramer thing on CNN

[15:15] {nemo} He'll never bring beer if you keep that up

[15:16] {dino} its simply an "edge" 

[15:20] {magoo} wheres obama??ruin this

[15:20] {Threei}  he send minions out this time mags

[15:20] {Threei}  terrific tim

[15:20] {magoo} hes timing it for 3:40

[15:26] {magoo} read MS vad?

[15:26] {Threei}  if you call up is right, so will MS

[15:26] {Threei}  it's one of the strongests

[15:27] {Threei}  FAS new high

[15:27] {Threei}  RIMM too

[15:27] {magoo} k..took .50 ong ms

[15:28] {nemo} volume only average on the NAS and up but not great on S&P

[15:28] {Threei}  yout stop would be under .35

[15:30] {geo} un mck

[15:30] {geo} in

[15:30] {geo} break of .8

[15:30] {Threei}  CHIC

[15:30] {Threei}  CO. PUTS ITSELF UP FOR SALE - NYT

[15:30] {Threei}  lol

[15:31] {Threei}  I would suggest magoo to buy it but dino will say it's not chicken/eggs producer

[15:31] {cosmo} possible gapper?

[15:32] {dino} grrrrrrrrrrrrrr

[15:32] {dino} having trouble w/6+% moves in day

[15:33] {nemo} mae most of it by noon...only 1% since

[15:33] {nemo} made

[15:34] {dino} just wondering if it simply the bull in a bear spike

[15:34] {dino} time will tell

[15:36] {Threei}  certainly wouldn't make a cse for a bull market starting just yet

[15:37] {Threei}  US TREAURY SEC GEITHNER: FAILURE OF AN AUTOMAKER COULD CAUSE WIDESPREAD DAMAGE; REVIEWING AUTO RESTRUCTURING 'CAREFULLY'

[15:37] {cosmo} see how QQQQ tests 28 .... maybe tomorrow

[15:37] {magoo} so u against doug kass? :)

[15:37] {Threei}  he says we are in a bull market?

[15:38] {dino} says bottom in last week

[15:39] {Threei}  ummm

[15:39] {Threei}  THE bottom?

[15:39] {dino} harrison, 20% move in march, not sure which way

[15:39] {Threei}  or a bottom?

[15:39] {dino} "the"

[15:39] {Threei}  OK... I can't possibly be against him

[15:39] {cosmo} mother of all bottoms

[15:39] {Threei}  because we are on different planets

[15:39] {dino} but predictions are like azzes, everybody has one

[15:40] {nemo} and they all stink

[15:40] {Threei}  I am not about to start interplanetary war

[15:40] {dino} lol

[15:40] {geo} confucus says:

[15:40] {nemo} don't geo

[15:40] {geo} those who pick botttoms get stinky fingers !!!

[15:40] {Threei}  FAS looks like a gapper to me

[15:41] {dino} ohhhh mannnn, swiper says

[15:41] {geo} :)

[15:41] {geo} tough crowd

[15:46] {dptl} have a good evening all

[15:46] {Threei}  take care dp

[15:47] {geo} MCK and WHR

[15:47] {geo} sitting

[15:48] {Threei}  FAZ, what a murderous move

[15:48] {magoo} u mean 35 points?

[15:48] {Threei}  over two days

[15:52] {Threei}  WHITE HOUSE SPOKESMAN: HOPES TO HAVE NEW FINANCIAL REGULATORY STRUCTURE IN PLACE THIS YEAR

[15:52] {Threei}  - note: some senators, including Senator Schumer have stated they hope to have the blueprint for an overhaul of financial regulation prepared by early April.

[15:52] {Threei}  this year??

[15:52] {cosmo} april 1

[15:53] {cosmo} in the face of all superstition

[15:54] {Threei}  market finishes at the high

[15:55] {Threei}  DOW JONES INDEXES: IF US GOVERNMENT TOOK MAJORITY STAKE IN CITI, WOULD TRIGGER REMOVAL FROM DJIA

[15:56] {dino} sooooooo

[15:56] {cosmo} k

[15:56] {Threei}  WFC spike

[15:58] {dino} out lphi .31, +.71 all day jober

[15:59] {Threei}  +350

[16:00] {Threei}  okay guys

[16:00] {nemo} 7% on the Nas

[16:00] {Threei}  thank you all

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

[16:00] {cosmo} bottoms up

[16:01] {vint} Thanks Vad, bye all.

[16:01] {dino} thx all, had fun

[16:01] {fernp} have a goog evening

Mar 09 2009

Lacklustre start of the day turned into much better performance with 50 cents profit on WFC long, 30 cents on CAT short and 20-30 cents on RIMM short. Not a groundshaking but fair day overall.

Session Time: Mon Mar 09 00:00:00 2009

[08:02] {nemo} anybody home?

[08:08] {Threei}  Good morning

[08:08] {dptl} good morning

[08:09] {Threei}  dp :)

[08:09] {nemo} likewise

[08:09] {Threei}  nemo :)

[08:10] {Threei}  WARREN BUFFET: TOXIC ASSETS HELD BY BANKS HAVE VERY GOOD POTENTIAL FOR RICH RETURNS IF THEIR CURRENT VALUATION IS BASED ON MARK TO MARKET

[08:11] {nemo} Yeah, and you can get a great high from heroin.

[08:12] {Threei}  dp, look dcc pls

[08:12] {nemo} Interesting though, the commentary on mark to market coming from him.  Harbinger?

[08:13] {Threei}  - Does not believe that the banks' problems come from toxic assets

[08:15] {nemo} Mmmmhhh...we hit the mark of the beast on the S&P Friday, and we're sitting at the Battle of Hastings on the Nasdaq 100

[08:22] {Threei}  - "I'd rather buy a bank's toxic assts than their good assets, if they are marked to market, since they're so cheap."

[08:22] {Threei}  - Notes he still favors mark-to-market accounting

[08:23] {nemo} I guess he's betting on historical default rates?

[08:26] {Threei}  PALM

[08:26] {Threei}  REGISTERS 18.5M SHARES ON BEHALF OF THE COMPANT AND SELLING SHAREHOLDERS - FILING

[08:27] {Threei}  - Feels that the 'uptick rule' is a good idea

[08:27] {nemo} who, Buffet?

[08:29] {Threei}  yes

[08:29] {Threei}  it's a continuating comments by him coming to wire as he talks

[08:29] {Threei}  continuing

[08:29] {nemo} what, is he on CNBC?

[08:29] {dptl} yes

[08:39] {nemo} another cheery picture painted by the futures

[08:40] {Threei}  it's not like we ended bear market this weekend {G}

[08:41] {nemo} thank you Captain O

[08:41] {Threei}  you started it

[08:41] {Threei}  I just defend my title

[08:42] {nemo} Not, how do you say, eqkzaktly....I was reporting the current state.

[08:49] {nemo} What are you watching this morning Capn'?

[08:49] {Threei}  usual suspects plus GERN

[08:50] {nemo} yeah, have GERN up.

[08:56] {Onix} Good morning all :)

[08:56] {Threei}  onix :)

[08:56] {nemo} onix :)

[08:57] {Threei}  canucks, for you:

[08:58] {Threei}  BREAKS ABOVE 1.3020 LEVEL FOR FRESH MULTI-YEAR HIGHS - DEALERS

[08:58] {Threei}  USD/CAD

[08:58] {cosmo} STEM:  Stem-Cell Research Revivalat Forbes.com(Fri, Mar 6

[08:59] {Threei}  I don't believe in STEM

[08:59] {Threei}  or ASTM

[08:59] {cosmo} continuation it seems

[08:59] {Threei}  GERN has a chance to be around

[08:59] {Threei}  those two, not so much

[09:01] {cosmo} and if they get bot out     ?

[09:02] {dino} gm all

[09:02] {cosmo} agree

[09:03] {Threei}  dino :)

[09:04] {Threei}  I am not sure there is something to buy out i them

[09:04] {Threei}  in

[09:04] {cosmo} petri dishes?

[09:05] {Threei}  if that's all they have to offer, shareholders won't get much benefit from buyout :)

[09:05] {dawg} gm all

[09:05] {Threei}  dawg :)

[09:06] {ese} morning

[09:06] {Threei}  ese :)

[09:06] {nemo} ese :)

[09:06] {nemo} dawg :)

[09:09] {Threei}  be back in 5

[09:13] {vint} good morning 

[09:14] {Threei}  vint :)

[09:15] {magoo} morning

[09:17] {Threei}  magoo :)

[09:18] {magoo} running late

[09:19] {Threei}  didn't really miss anything

[09:19] {nemo} mags :)

[09:19] {Threei}  GERN is lukewarm

[09:19] {Threei}  not much enthusiasm

[09:19] {Threei}  Friday end of day rally has no continuation

[09:20] {Threei}  was nothing but repositioning caused by shorts exiting to avoid any surprize announcement

[09:20] {Threei}  none came so market drifts down

[09:29] {wulff} gern woke up

[09:29] {Threei}  my read on Friday was a bit off so I intend to stay on a conservative side today

[09:30] {nemo} Is your view clouded by the darkside?

[09:31] {Threei}  GERN, fast dive into 4.80 or so to get interested in bounce,

[09:31] {Threei}  ad any bounce is the scalp only

[09:32] {fernp} Hello everybody

[09:32] {Threei}  fern :)

[09:33] {Threei}  get ready

[09:33] {Threei}  .71 long

[09:33] {Threei}  if holding above .60

[09:34] {Threei}  invalidated

[09:35] {Threei}  valida again, same setup

[09:35] {Threei}  for quick fingers only

[09:36] {pita} gm all

[09:36] {Threei}  pita :)

[09:36] {ese} NVDA....

[09:38] {pita} are we in anything?  took me awhile to get system up

[09:38] {Threei} Long Setup:  BRCM  17 break if holding above .85

[09:38] {Threei}  no pita

[09:43] {wulff} like waiting for ice to freeze

[09:43] {cosmo} hmmm

[09:47] {pita} watch list

[09:49] {Threei}  watching for pullback on WFC, GE, USB

[09:50] {wulff} BRCM valid again?

[09:51] {Threei}  yes, same condition

[09:51] {magoo} pretty strong bounce

[09:51] {magoo} mkts'

[09:52] {Threei}  and not much of a pullback

[09:52] {magoo} gern dead vad?

[09:53] {Threei}  pretty much

[09:53] {cosmo} CAT came back

[09:53] {ese} short covering rally for a few days...weeks??

[09:53] {Threei} Long Setup:  PTEN  .33

[09:53] {Threei}  stop under .20

[09:55] {nemo} in

[09:57] {Threei}  stopped

[09:57] {dptl} stopped pten

[09:57] {nemo} out

[09:58] {Threei}  WFC selloff, watching for bounce entry

[10:04] {Threei}  CEDC looks salmonish

[10:05] {Threei}  BRCM 1:1

[10:05] {magoo} out .14 TY

[10:05] {cujo} morning, woke up late :(

[10:06] {Threei}  yeah, I wouldn't stick around too long

[10:06] {Threei}  just a scalp cujo :)

[10:06] {cujo} :)

[10:06] {magoo} was waiting 23..but changed it down

[10:06] {dino} liking the action in aapl off the downgrade

[10:13] {Threei}  FED'S BERNANKE TO ATTEND A BRIEFING WITH PRESIDENT OBAMA LATER TODAY

[10:13] {cosmo} to be followed by a speech no doubt

[10:14] {Threei}  but of course

[10:14] {wulff} cedc

[10:15] {Threei}  nort sure how to play it wulff, a bit too slow

[10:18] {Threei} Long Setup:  GE  .83

[10:18] {Threei}  invalidation under under .70

[10:21] {Threei}  GE turns into bounce scalp

[10:22] {Threei}  closer to .50

[10:22] {Threei}  also, WFC

[10:22] {Threei}  .76 long for a scalp

[10:24] {pita} stop wfc?

[10:24] {fernp} stop under .64 wfc?

[10:24] {Threei}  .65

[10:25] {Threei}  .64 makes sense

[10:25] {geo} morning all... 

[10:25] {Threei}  geo :)

[10:25] {fernp} out

[10:26] {Threei}  deeper pullbacks are needed

[10:26] {cujo} CAT lookin pretty strong vs mkt

[10:27] {cosmo} maybe a new leader...

[10:30] {magoo} .

[10:32] {ese} dino....you watching anything?

[10:32] {ese} my screens not reay showing anything

[10:33] {ese} "really"

[10:34] {pita}  How do I add sound to vad's posts?  anybody?

[10:34] {dino} vz sm l .70, stop .37

[10:35] {Threei}  AAPL

[10:35] {dino} es, nothing capit or euph yet

[10:35] {Threei}  half lot bounce candidate with market bounce

[10:35] {nemo} right click "#floor"  menu should come up and there should be a choice for "beeping" make sure it's turned on

[10:35] {Threei}  not ready yet

[10:35] {dino} vz simply lagging

[10:35] {ese} thats what i thought.....i didn't see anything either

[10:37] {Threei}  RIMM is holding well

[10:37] {Threei}  37 break long if holding above .85

[10:37] {pita} thanks nemo

[10:37] {ese} yup...not dipping with market

[10:37] {Threei}  with market help of course

[10:38] {ese} or shall isay as much

[10:39] {cujo} in RIMM

[10:39] {dino} ice gets approval for cds exchange

[10:40] {pita} in rimm

[10:40] {dino} tap interesting 

[10:40] {Threei}  it's not fresh dino, right?

[10:41] {nemo} is that a tap water joke

[10:42] {Threei}  market has no power here

[10:42] {dino} frfriday 3i, i just saw it

[10:42] {Threei}  got it

[10:43] {dino} tap=molson/coors/miller

[10:43] {dino} made a little on it friday, easy trader

[10:43] {nemo} oy

[10:45] {Threei}  RIMM over 1:1

[10:45] {magoo} out .17 TY\

[10:45] {dino} 27 Trillion market cds, 3i fwiw

[10:46] {dino} t not b

[10:46] {Threei}  yes... I just wonder about market reaction... fairly muted

[10:47] {ese} bstop DRYS .91

[10:47] {Threei}  NFLX... where does this thing gets the audacity to be this strong in such miserable market

[10:47] {dino} yes seeing same, they are first of i don't know how many, but thats a lot of volume coming down the pike

[10:47] {dino} or the "ice" i should say

[10:55] {Threei} Long Setup:  NFLX  .90 half lot if stays above .75

[10:56] {nemo} .90

[10:56] {nemo} .90?

[10:56] {Threei}  ?

[10:57] {nemo} just making sure on NFLX

[10:58] {Threei}  invalidated anyway

[10:59] {ese} pulled bstop on DRYS....

[11:00] {Threei} Long Setup:  RIMM  .45

[11:00] {Threei}  if stays above .40

[11:01] {nemo} missed

[11:01] {Threei}  no chasing, just a scalp

[11:03] {Threei}  take profit who got it

[11:03] {Threei}  +.20 with 5-7 cents risk

[11:04] {nemo} nice

[11:07] {Threei}  sharp down AAPL

[11:08] {Threei}  one more leg down mostl likely

[11:09] {Threei}  doesn't feel to me like bounce-ready

[11:09] {nemo} wfc holding pretty well in this downtick

[11:10] {Threei}  yeah, .50 established as support

[11:11] {dino} somebody trip over the plug?

[11:12] {Threei}  WFC worth a try closer to .50

[11:14] {Threei}  USB strengthens too

[11:15] {Threei}  feels to me like WFC wants another run at 10

[11:15] {Threei}  so does USB

[11:16] {magoo} u in either?

[11:17] {Threei}  not at this level... still need pullback, market is not really in a breakout mode

[11:18] {Threei}  pullbacks are well supported and look more like shakouts for later entries

[11:20] {Threei}  in WFC .70

[11:20] {Threei}  stop under .60

[11:22] {dino}  tap sm l .50

[11:28] {Threei}  half out WFC

[11:28] {Threei}  +.14

[11:28] {Threei}  +.13, sorry

[11:28] {fernp} out TY

[11:28] {Threei}  welcome

[11:28] {Threei}  hesitated about USB at .80... too bad, was a nice scalp

[11:29] {Threei}  jkust didn't want to put up two similar plays

[11:29] {Threei}  stop on second half WFC to .65 and will try to exit above .90

[11:30] {magoo} out  .90 lol TY

[11:31] {Threei}  out .94

[11:31] {dawg} out great call Vad ty

[11:31] {Threei}  :)

[11:31] {Threei}  USB near 10 as well

[11:31] {Threei}  grrr

[11:36] {Threei}  I thought of sharing my feel for the market today, then decided against it... you guys will lock me up in mental insitution if I do

[11:37] {Threei}  and rightly so

[11:37] {Threei}  I am actually thinking of going there by my own will

[11:39] {Threei}  but just in case

[11:39] {magoo} ill share mine..and then we roomates in asylum ok?

[11:39] {Threei}  WFC is going to break 10 and go to 10.50 and quite possibly closer to 11

[11:39] {magoo} whole mkt gonna explode up

[11:39] {Threei}  same for USB

[11:40] {Threei}  won't be easy ride by any means

[11:40] {magoo} entry how in your o? as in now or hope for pull

[11:40] {Threei}  let's wait a bit

[11:41] {Threei}  US TREASURY: MORE DETAILS ON TOXIC ASSET PUCHASE PROGRAM TO BE UNVEILED IN COMING WEEKS

[11:41] {Threei}  see, this kind of announcements can undermine any read

[11:41] {Threei}  coming weeks?

[11:41] {Threei}  market barely has patience for days

[11:42] {nemo} Yea no kidding, they should say nothing.

[11:42] {Threei}  anyway...

[11:42] {Threei}  10 break on WFC

[11:42] {Threei}  can take a few tries, as they are likely to shake out

[11:43] {Threei}  another way to play it,

[11:43] {Threei}  get half lot on pullback

[11:43] {Threei}  wazit for 10 break to add second half

[11:44] {Threei}  9.80 is closest support

[11:45] {magoo} in .98

[11:48] {magoo} want more than 1:1

[11:49] {magoo} alert alert

[11:49] {dino} obamination on the tv

[11:49] {magoo} tv obama

[11:49] {Threei}  half WFC out

[11:50] {Threei}  .37

[11:52] {Threei}  offering 1/4 .49

[11:52] {Threei}  stop .95

[11:52] {Threei}  direct hit

[11:52] {magoo} thinking .64 area

[11:53] {Threei}  one thing is for sure now:

[11:53] {Threei}  I do NOT beling to mental institution today

[11:53] {Threei}  belong

[11:53] {geo} ?

[11:53] {cosmo} spiritual then...?

[11:54] {Threei}  [11:36] {Threei} I thought of sharing my feel for the market today, then decided against it... you guys will lock me up in mental insitution if I do

[11:54] {Threei}  [11:37] {Threei} and rightly so

[11:54] {Threei}  [11:37] {Threei} I am actually thinking of going there by my own will

[11:54] {Threei}  [11:39] {Threei} but just in case

[11:54] {Threei}  [11:39] {Threei} WFC is going to break 10 and go to 10.50 and quite possibly closer to 11

[11:54] {geo} :)

[11:55] {Threei}  glad I skipped USB in this case... doesn't perform as well as WFC

[11:56] {Threei}  oh boy... look at this:

[11:56] {Threei}  (US) US AGRICULTURE SEC VILSACK: WOULD LOVE TO SEE ETHANOL BLEND RATE RISE TO 15%, BUT CONCEEDS THAT FOCUS SHOULD BE ON 12-13% AT THIS POINT

[11:56] {Threei}  say what??

[11:56] {Threei}  an normal person that is based in reality would want ethanol blend rate go to zero

[11:57] {Threei}  (US) PRESIDENT OBAMA: PLEDGES TO DEVELOP STRICT GUIDELINES FOR CARRYING OUT RESEARCH ON EMBRYONIC STEM CELLS

[11:57] {Threei}  - Note that these comments come as President Obama officially issues an executive order lifting the eight-year ban on embryonic stem cell research.

[11:59] {cosmo} so ...stem cells will be used to make ethanol...

[11:59] {cosmo} nah

[12:00] {Threei}  GERN is pos

[12:00] {Threei}  spiked at the beginning of the speech, dropped right back

[12:02] {Threei}  trailing stop to .15 now for the last portion

[12:02] {Threei}  and offering it .75

[12:03] {magoo} .7499 here

[12:03] {Threei}  sigh

[12:07] {Threei}  do we dare to short GERN on .60 break?

[12:09] {Threei}  feels to me like panic will take it back to 4

[12:12] {Threei}  short half lot into this bounce

[12:12] {Threei}  stop above .70

[12:14] {nemo} RIMM bounced

[12:15] {Threei}  WFC is on its merry way

[12:15] {magoo} beeeeeaauuuuty boss

[12:15] {Threei}  eeck

[12:16] {magoo} u have not responded well to the nicer magoo last few sessions

[12:17] {Threei}  that's because "nice magoo: is:

[12:17] {Threei}  a) oxymoron

[12:17] {Threei}  b) makes me very uncomfortable

[12:17] {Threei}  GERN stop to .65

[12:18] {Threei}  don't want to run into higher low scenario

[12:18] {Threei}  WFC stop to .25

[12:19] {Threei}  oh mags... and c) you still haven't watched Fallen

[12:19] {nemo} Yes azazel

[12:20] {magoo} how u know?

[12:20] {Threei}  you would have said someting if you di... :)

[12:21] {Threei}  stop to above .60 GERN

[12:21] {Threei}  keeping risk to a minimum

[12:22] {Threei}  out -.05

[12:36] {geo} .

[12:39] {geo} ..

[12:39] {Threei}  who do you think will be sweeping this litter?

[12:39] {Threei}  done with last portion WFC

[12:41] {Threei}  +.37, .49 and .24

[12:48] {dino}  gj

[12:52] {pita} catch you later....

[12:52] {Threei}  take care pita

[12:52] {Threei}  if market breaks down,

[12:53] {Threei} Short Setup: CAT  24.50 break if stays under .60

[12:57] {Threei}  hesitance... still no market break

[12:57] {dptl} are you in cat?

[12:57] {Threei}  not yet

[12:58] {dptl} hmm i am in .49

[12:58] {geo} darn

[12:58] {geo} with ya dp

[12:58] {Threei}  kind of discretionary situation

[12:58] {nemo} well, at least you're in the foxhole together

[12:58] {Threei}  CAT broke, market didn't

[13:00] {Threei}  looks better now

06[13:00] * geo knew it all along

[13:00] {Threei}  let's be anal-retentive and trail stop to .56

[13:01] {geo} wo

[13:01] {nemo} CAT is holding through this drop

[13:02] {Threei}  that's why I want to keep stop just above the high of last bounce

[13:03] {Threei}  7 cents stop is a good protection against salmon

[13:05] {Threei}  1:1

[13:06] {dptl} out .37 ty

[13:06] {Threei}  welcome

[13:07] {magoo} thasrts all u after cat?

[13:07] {Threei}  hmm?

[13:07] {Threei}  where is my decoder ring

[13:08] {geo} half out .33

[13:08] {geo} TY lord vader

[13:08] {Threei}  welcome sir

[13:08] {fernp} out. ty Mr Graifer

[13:08] {Threei}  :)

[13:09] {Threei}  1:2

[13:09] {magoo} is that all?

[13:09] {Threei}  for me yes

[13:10] {geo} 2Okeeping 1/4 to ride it

[13:10] {magoo} mkt lows

[13:11] {jmb} Thanks Vad

[13:11] {Threei}  jmb :)

[13:11] {geo} i think we should have a 3 character nickname rule....... just to see what people come up with

[13:12] {geo} ok 4

[13:12] {Threei}  1:3 for the most patient types

[13:12] {geo} out thanks

[13:13] {geo} all out .29 cents

[13:13] {magoo} out .20 TY

[13:13] {Threei}  market hates life

[13:13] {cujo} trailed stop very tight

[13:13] {cujo} but still in

[13:14] {Threei}  where is the stop now cujo?

[13:14] {cujo} .23

[13:14] {Threei}  that beats my definition of anal-retentive

[13:14] {cujo} he he

[13:14] {Threei}  :)

[13:16] {Threei}  CAT behaved nicely on breakdown... gave second chance, nefer jeopardized even ridiculously tightly trailed stop

[13:16] {cujo} out =.32

[13:16] {cujo} +

[13:16] {cujo} thanks Vad

[13:16] {Threei}  wtg

[13:17] {Threei}  IMF WILL REPORTEDLY DISCLOSE WORLD TRADE CONTRACTION OF 5% OR MORE AHEAD OF G20 - UNCONFIRMED REPORT

[13:17] {Threei}  with 50 cents WFC and 20-30 cents CAT life becomes brighter

[13:19] {magoo} wfc here vad long?

[13:19] {Threei}  can't tell

[13:22] {Threei}  I don't like volume on these upticks

[13:22] {Threei}  pretty anemic... need more convincing before going long

[13:25] {geo} nice tell vad

[13:31] {Threei}  no buzz from high above about m2m whatsoever

[13:31] {Threei}  could' be a sign of not being seriously considered

[13:32] {Threei}  or at least that's how market takes it

[13:32] {Threei}  WHITE HOUSE ECONOMIC ADVISOR: CONSUMERS ARE "HUNKERED DOWN" GIVEN FALLING LEVELS OF WEATH

[13:33] {cujo} http://www.nj.com/hobokennow/index.ssf/2009/03/bergin_cancel_hobokens_st_patr.html

[13:34] {cujo} any NJ people out there?

[13:39] {Threei}  they are all out lobbying for the parade cujo

[13:39] {cujo} :)

[13:42] {nemo} gold taking a pounding again

[13:43] {Threei}  915?

[13:44] {nemo} give or take

[13:46] {Threei}  WHITE HOUSE PRES SEC GIBBS: CONFIRMS BERNANKE, AMONG OTHERS, BRIEFED OBAMA ON ECONOMY TODAY

[13:46] {Threei}  I feel relief

[13:47] {Threei}  president is briefed, all is well again

[13:48] {nemo} WFC inching up to resistance?

[13:49] {Threei}  starts looking a bit firmer, yeah

[13:49] {Threei}  if market starts upticking, will be worth a play

[13:50] {nemo} SOB

[13:50] {Threei}  let it pull back

[13:50] {nemo} yeah, not much for running into booby traps

[13:50] {nemo} cat too

[13:51] {nemo} lunch-time skirmishes?

[13:53] {Threei}  should pull back now

[13:54] {Threei}  I'd like .15 - .18 area at least

[13:54] {nemo} And if it doesn't pull back long on market strength,although, arket isn't wakineing all that uch

[13:55] {nemo} market    weakening    much

[13:55] {Threei}  got .16

[13:55] {cujo} what stock Vad?

[13:55] {Threei}  WFC

[13:56] {cujo} ah, thought we were still looking at the kitty

[13:56] {Threei}  [13:48] {nemo} WFC inching up to resistance?

[13:56] {Threei}  [13:49] {Threei} starts looking a bit firmer, yeah

[13:56] {Threei}  [13:49] {Threei} if market starts upticking, will be worth a play

[13:59] {Threei}  not very enthusiastic

[13:59] {geo} stop vad?

[13:59] {cujo} anyone ever thought of getting a band together and just write songs about day trading?  Could call it Bollinger Band...  Ha ha ha

[13:59] {Threei}  stop .09

[14:01] {Threei}  out .26

[14:02] {Threei}  maybe too soon, but market starts this pattern of sudden spikes and drops

[14:02] {jmb} Thanks Vad

[14:02] {Threei}  welcome

[14:03] {Threei}  wow

[14:03] {Threei}  geo?

[14:04] {geo} out .34... was in fro .18

[14:04] {geo} TY vad

[14:04] {Threei}  :)

[14:05] {geo} seems has more juice

[14:09] {magoo} next leg up coming

[14:10] {Threei}  you mean market or WFC?

[14:10] {magoo} me thinx mkt

[14:14] {magoo} sheesh

[14:14] {Threei}  WFC doesn't frop with market

[14:15] {Threei}  drop

[14:15] {nemo} I was just going to say that

[14:15] {nemo} oops

[14:16] {Threei}  want pullback into .25 zone, or .43 long if market bounces strongly

[14:16] {nemo} CAT?

[14:17] {Threei}  CAT .50 break if stays above .40

[14:19] {Threei}  watch SPY for timing help with WFC

[14:20] {Threei}  not too clear still

[14:21] {Threei}  ok, in

[14:21] {Threei}  .27

[14:21] {Threei}  stop under .20

[14:22] {Threei}  out

[14:22] {geo} sigh

[14:22] {Threei}  SPY fell through the floor

[14:22] {geo} wierd spike

[14:22] {magoo} yea..thats what so frustrating

[14:22] {magoo} no power up for years now

[14:23] {Threei}  [14:02] {Threei} market starts this pattern of sudden spikes and drops

[14:23] {Threei}  huh?

[14:23] {dptl} yeah...gonna stay away

[14:23] {Threei}  you driniking already mags?

[14:23] {nemo} remember, for mags it's dog years

[14:38] {geo} amzn has been in a pretty tight range

[14:38] {Threei}  F

[14:38] {Threei}  WSJ: UNION HAS APPROVED CERTAIN COST CUTTING MEASURES IN CONTRACT

[14:44] {nemo} Oil continues to climb...wonder if that will become a counter weight on the market if there are no positve economic signs

[14:47] {cujo} i think it can only hurt the economy if oil goes up. 

[14:47] {cujo} no?

[14:48] {nemo} weigh on the market was my question?

[14:48] {cujo} oh sorry, when you said counter weight i thought you meant like something positive in a negative market

[14:50] {magoo} .

[14:50] {nemo} bad english, sorry

[14:52] {Threei}  IBM CHAIRMAN RELEASES LETTER TO SHAREHOLDERS; CONFIDENT IN 2009 AND AHEAD OF PACE OF 2010 OBECTIVE AT $10-11/SHR

[15:01] {magoo} read RIMM vad?

[15:02] {Threei}  totally market dependent

[15:02] {magoo} read mkt vad? he he

[15:02] {Threei}  lol

[15:03] {geo} i gotta say it guys..... watching the market tires me.... i dunno if i can do this for long.... i miss swing trading

[15:04] {Threei}  problem with that is:

06[15:04] * geo cringes...... but realizes vad cant trout

[15:04] {Threei}  if you are not watching it, you WILL miss the moment when market changes

[15:04] {geo} sigh... thats why i crawled back here

[15:05] {geo} scalping just has higher probability

[15:05] {Threei}  because it will change when enough people give up and walk away

[15:05] {Threei}  for now, yes

[15:05] {Threei}  market drops mags

[15:05] {Threei}  maybe RIMM is worth trying short on .50 break

[15:06] {geo} missed

[15:06] {geo} isnt this a spike down for rimm vad?

[15:06] {geo} instead of the gentle drift you prefer?

[15:07] {Threei}  about 10 cents, yeah

[15:07] {Threei}  market went down abruptly, so did RIMM

[15:07] {geo} ok

[15:07] {Threei}  .65 resistance

[15:08] {Threei}  thing just dropped and broke right when I typed

[15:11] {Threei}  stop to .61

[15:11] {nemo} what I miss

[15:12] {Threei}  RIMM short?

[15:12] {nemo} Magooing it produced

[15:14] {Threei}  1:1

[15:14] {Threei}  if parytialling, stop to .51

[15:16] {Threei}  WFC becomes interesting here

[15:16] {Threei}  RIMM 1:2

[15:16] {geo} sigh... doom and gloom

[15:17] {Threei}  out +.30

[15:17] {Threei}  so why sigh?

[15:17] {Threei}  isn't it tradeable?

[15:17] {geo} dunno general societal impact i guess?

[15:17] {nemo} ahhhh universal love

06[15:18] * geo is an empathetic creature

[15:18] {nemo} cat got a long way to fall too

[15:20] {dino} 6469, 1043, 666 fri. lows

[15:23] {Threei}  I think I need to write a blog article on bear markets

[15:23] {Threei}  what their role is, why we need them, how to perceive them

[15:23] {Threei}  this negativity you guys project has no place

[15:23] {Threei}  in trader's mind

[15:24] {geo} a disciplined investor who put $100 into the Vanguard S&P-500 fund every month for the past twenty years, now has a negative return on his entire investment (including dividends).

[15:25] {geo} the guys above must not be happy

[15:25] {Threei}  no

[15:25] {geo} thats all I am saying

[15:25] {Threei}  so, being a trader and actually making money in this market, where does the negatvity come from?

[15:25] {geo} i moved to treasury bills last spring.... just feeling bad for friends who didnt

[15:26] {dino} hmmmmmmmmmmm

[15:26] {Threei}  of course this market is a killer for investors

[15:26] {Threei}  and considering how the system is structured, I can't even say it's their own fault

[15:26] {dino} 3:40 bounce?

[15:26] {geo} yeah thats what my issue is

[15:27] {Threei}  well... as long as it's directed at what this whole debacle does to investors through no faulty of most of them

[15:27] {nemo} Well depends on what the NDX and S&P do when they double bottom here, Dino

[15:27] {geo} no one liable amazes me.... they have disintegrated peoples life savings

[15:27] {dino} did about 150 fri.....just thinking out load

[15:27] {nemo} Beautiful crime

[15:27] {Threei}  doesn't feel like that today dino

[15:27] {Threei}  but then again. neither did Friday

[15:28] {nemo} see that spike in SPY?

[15:28] {dino} i'm w/you geo, the heads of the companies are still getting millions in pay/bonuses

[15:28] {geo} all these "licensed" people.... highly paid.....  lost fiduciary money

[15:28] {nemo} an in NDX

[15:28] {Threei}  licensed fnancial advisors with nice certificates on the wall... never made a dime in the market

[15:29] {geo} i know this IB guy....  has lost everyone's pensions

[15:29] {nemo} what's IB?

[15:29] {geo} the only time i saw him panic is when he got calls from people withdrawing money

[15:29] {geo} investment bank

[15:29] {nemo} oh

[15:29] {geo} he was loosing his cut on AUM (assets under management)

[15:30] {Threei}  can you say conflict of interest

[15:30] {geo} up

[15:30] {geo} yup

[15:30] {geo} he still lives in bentwood and small busness owners lost their life savings

[15:30] {Threei}  I don't know about this little spike...

[15:30] {geo} anyway......

[15:31] {nemo} no doesn't feel thick

[15:31] {Threei}  just as it happened on Friday, no way to tell whether it's a begijnning of more sustainable move or just a little bounce before new wave of selling

[15:32] {nemo} Friday made some sense for short covering...without getting in to that whole discussion again...hell, it's only Monday, why cover

[15:33] {wulff} took aapl long small @83

[15:33] {nemo} RIMM just absorbe alot of selling in a relatively confined range

[15:33] {nemo} that can't be good

[15:34] {nemo} I lied....CAT

[15:37] {Threei}  my bet is, those who bet on Fri eod repetition will be smacked down

[15:38] {nemo} most of last week was just quiet closes

[15:38] {nemo} That is, if I'm remembering correctly

[15:38] {Threei}  today feels like that

[15:38] {Threei}  I doubt we will see dramatic selloff

[15:38] {nemo} yeah

[15:39] {nemo} we'll know in two minutes, right Dino....

[15:41] {geo} nice spike SU

[15:45] {Threei}  BAC, WFC, USB being solidly in green is something to to watch

[15:45] {Threei}  not sure what it points to but the strength is remarkable for these dogs

[15:45] {Threei}  with fleas

[15:48] {dptl} ok...

[15:48] {dptl} have a good evening all

[15:48] {Threei}  take care dp

[15:48] {dino} cyadp

[15:49] {Threei}  DJI finishes around -100

[15:49] {Threei}  can we say that under the new paradigm it's a good day?

[15:49] {nemo} Yeah, like a leper saying he only lost a toe today

[15:49] {Threei}  eqzaktly

[15:50] {Threei}  -300 becomes so customary

[15:50] {nemo} Or the "merely a flesh wound" quote from Monty Python

[15:50] {Threei}  people actually start calculating how many days it would take DJI to go to zero at this rate

[15:50] {Threei}  and guess what... they don't have to count too far :)

[15:50] {nemo} Yeah, FOX news did that Friday

[15:51] {Threei}  well... spring is coiling

[15:51] {wulff} this will become easy...someday

[15:51] {Threei}  accumulates potential energy

[15:51] {nemo} Yeah, just in time for you to go on vacation in the Bahamas :)

[15:51] {Threei}  awww

[15:52] {Threei}  hope superrally will wait for me

[15:52] {nemo} Do that Darth Vadim stuff

[15:52] {nemo} Vadym

[15:52] {Threei}  BAC actually finishes at high

[15:53] {nemo} WFC is about 3/4 of the way also

[15:55] {nemo} Dow clawing back

[15:55] {Threei}  just as we thought

[15:55] {Threei}  no rally, no drop

[15:55] {nemo} You told me not to think

[15:56] {Threei}  true

[15:56] {Threei}  sorry

[15:56] {nemo} You're confusing me

[15:56] {dino} feeling this bear ends in a whimper

[15:56] {Threei}  quite impressive buying BAC

[15:57] {Threei}  unless some horrific development triggers panic selling, I don't feel capitulatory selloff coming either, dino

[15:58] {Threei}  okay guys, decent day with three nice size wins

[15:59] {Threei}  let';s see if we can keep this up through the whole week

[15:59] {Threei}  gambling types can take BAC home

[15:59] {Threei}  thank you all, have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {fernp} see you tomorrow

[16:00] {vint} good evening all, see you all tomorrow