Mar 16 2009

Decent day overall, even though most of financials haven't performed for big part of the day. Some scalps on usual suspects (FAS, BAC etc)  plus decent plays on RIMM and FAZ kept the day profitable.                                                                                                                                                          

Session Time: Mon Mar 16 00:00:00 2009

[08:05] {ese} morning....too many sulfates in the wine last night.....up too early

[08:06] {Threei}  Good morning

[08:06] {nemo} no sulfates in vodka

[08:06] {Threei}  FAS happy buying again

[08:06] {nemo} BAC too

[08:06] {nemo} Happy Monday's scare me

[08:07] {Threei}  BAC is still trading under Fri high

[08:07] {Threei}  FAS is above

[08:07] {ese} morning vad....nemo

[08:07] {Threei}  GE is close to serious resistance at 10

[08:07] {Threei}  ese :)

[08:07] {nemo} Buenos tardes

[08:12] {ese} How bout that....blast from the past DNDN on the pre market screen

[08:12] {Threei}  yeah... they have FDA decision coming

[08:12] {Threei}  don't remember the date

[08:13] {ese} can't remember what they do.....do you recall Vad?

[08:13] {Threei}  drug Provenge

[08:14] {ese} what does it do.....presevre youth

[08:14] {Threei}  that I don't remember

[08:14] {nemo} improves memory :)

[08:15] {Threei}  lol

[08:15] {ese} pretty funny there nemo.......quick thinkin too

[08:16] {nemo} Kinda' lucky...haven't even finished my first cup of coffee...usually have to check my license to remember my name until I finish the second cup.

[08:16] {ese} I'm still long 2 lots of DRYS at .21 from friday....it's lookin good right now

[08:21] {Threei}  GM EXEC: EXPECTS MARCH US SALES TO BE INLINE WITH LEVELS SEEN IN BOTH JAN AND FEB

[08:21] {Threei}  {F}

[08:21] {Threei}  I guess if things stopped deteriorating, it's as good news as we can hope for

[08:25] {Threei}  Brief summary of G20 propsed changes:

[08:26] {Threei}   An enhanced role for the Federal Reserve to monitor and address broad economic risks.

[08:26] {Threei}   Changes to the way banks are overseen to prevent lenders from shopping among regulators for the easiest supervision.

[08:26] {Threei}   More transparency and stricter rules for the way money flows between banks.

[08:26] {Threei}   Tougher capital requirements for big banks.

[08:26] {Threei}   Consolidation of consumer-protection enforcement.

[08:27] {Threei}  first line is beyond the comon ense as it exists in my universe

[08:27] {Threei}  common sense

[08:27] {Threei}  fox guarding the henhouse

[08:27] {Threei}  PIMCO'S EL-ERIAN: MARKET WAS DUE FOR A TECHNICAL BOUNCE IN ACROSS ALL ASSETS, TOO EARLY TO CALL A BOTTOM - CNBC

[08:27] {Threei}  party pooper

[08:30] {Threei}  MAR EMPIRE MANUFACTURING: -38.23 V -30.80E

[08:31] {Threei}  - Prices Paid: -26.7 v -13.79 prior (record low)

[08:31] {Threei}  - New Orders: -44.8 v -30.51 prior (record low)

[08:32] {Threei}  - Employment: -38.20 v -39.08 prio

[08:50] {Threei}  GE consolidation range is 9.85 - .95 so far

[08:50] {Threei}  with .98 being Fri high and 10 natural resistance to break

[08:51] {Threei}  if we get rally continuation, this is candidate for the move similar to one we got on Fri morning

[08:53] {magoo} morning

[08:53] {Threei}  magoo :)

[08:54] {ese} MMMMAAAAAGGGGGSSSSSSS zzzaaaaaahhhhhh....how are ya?

[08:57] {pita} gm everyone

[08:58] {ese} pita...

[09:00] {Threei}  pita :)

[09:06] {Threei}  let's start outlining plan for GE

[09:06] {Threei}  from today's premarket action, 9.85 is support

[09:07] {Threei}  9.95 is resistance, with 10 to break as a signal for continuation

[09:07] {ese} was laughing my brains out on the weekend reading the Darwin Awards.   Story titled "once again golfers prove that testosterone and beer don't mix"  one fellow in the foursome was so loaded that he climbed up on the ball washer and stuck his testicles in it to wash them off......well he promptly fell and tore them right off becoming one of the few Darwin winners to be awarded the top darwin for his category because he was still alive.  couldn't

[09:07] {Threei}  so, if you want aggresive entry, that would be about here with .84 stop

[09:08] {pita} Here, as in pre-mkt?

[09:09] {Threei}  if you like the idea of aggresive entry, with very tight stop, yes

[09:10] {Threei}  yesetrday's close is .61

[09:10] {Threei}  if market is not holding its gap and GE loses .85, that will be next area to watch

[09:11] {Threei}  regular entry would be let it trade for now, then buy 10 break with stop located under the low formed before the break

[09:12] {Threei}  for FAS, .50 is Fri resistance

[09:12] {Threei}  broke it earlier, retreated, held .40

[09:13] {vinod} good Morning to all

[09:13] {Threei}  vinod :)

[09:13] {Threei}  03/16/09 06:56am

[09:13] {Threei}  [FEED] Agfeed Industries Reports FY08 $0.74 v $0.62e (ex items), R $143.7M v $138.0Me (1 est), temporarily suspends stock buyback

[09:13] {Threei}  - AgFeed intends to invest heavily in genetics with a target to support the expanding sow base from 2009''s 31,500 sows to 50,000 sows over the next 24 months.

[09:13] {Threei}  - Company believes that the Chinese markets will once again attain double-digit growth rates. Increasing urbanization and the swift growth of the Chinese middle class, strongly position AgFeed for the expanding Chinese consumer pork market.

[09:13] {Threei}  - No Signficant Deficiency, Material Weakness found In Co''s Internal Control Process

[09:14] {dino} gm all

[09:14] {Threei}  dino :)

[09:14] {cosmo} CVTX pre mkt high = 19.75  fwiw

[09:14] {nemo} dino :)

[09:15] {Onix} Good morning all

[09:15] {Threei}  FEB INDUSTRIAL PRODUCTION: -1.4 % V -1.3%E;

[09:15] {Threei}  onix :)

[09:16] {Threei}  CNBC: GOVT TO RELEASE MORE DETAILS PUBLIC PRIVATE PARTNERSHIP THIS WEEK OR EARLY NEXT WEEK

[09:17] {nemo} "Public Private Partnership"  codeword for advancing socialism

[09:17] {dino} uthr

[09:17] {nemo} there's a gapper

[09:17] {cosmo} what's a public/private relationship look like?

[09:17] {cosmo} ...ah

[09:18] {dino} airbus

[09:18] {nemo} Who knows, there making this up as they go along...won't be good for the plebians

[09:18] {nemo} they're

[09:19] {cosmo} how bout the sirians?

[09:19] {nemo} are you serious

[09:19] {ese} Ithink UTHR will bounce back up dino

[09:20] {cosmo} cvtx

[09:20] {cosmo} tests

[09:21] {nemo} PROVENGE is used in treatment for prostate cancer

[09:21] {dino} me too es, was down 9+ 

[09:23] {Threei}  FASB ALLOWING FIRMS TO EXERCISE MORE JUDGEMENT ON APPLICATION OF MARK TO MARKET ACCOUNTING

[09:24] {Threei}  no idea what it means

[09:24] {nemo} 10,000 shares FAS at market.....just kidding

[09:24] {ese} ya to 56....bit of an over reaction to say the least

[09:24] {Threei}  but FAS is upticking

[09:24] {nemo} yep

[09:25] {Threei}  GE honestly trying

[09:27] {Threei}  FAS is too

[09:28] {ese} QQQQ has been trending down here in pre market...will drag some stuf with it

[09:28] {nemo} spy is starting too also...has a bit of a topping pattern 

[09:29] {dino} uptick and m2 were changed in 1938, in '07 changed back, fwiw

[09:30] {Threei}  if you took that aggressive entry on GE, keep stop under .85 and let it break 10

[09:30] {Threei}  morning volatility may work for us or against

[09:30] {Threei}  so far so good though

[09:31] {Threei}  let's sell half here

[09:31] {Threei}  .13

[09:31] {Threei}  scalpers know what to do

[09:32] {Threei}  let's see now how well both FAS and GE hold this pullback

[09:34] {ese} bstop sm 300 shs UTHR 61

[09:34] {Threei}  for those who took half off, stop .88 for the balance

[09:34] {ese} L

[09:34] {Threei}  for scalpers who took whole profit, 10 break is new entry

[09:35] {Threei}  if holding above .90

[09:36] {ese} should have had that bstop at .05

[09:36] {ese} we'll see

[09:37] {ese} just touched 61 and triggered it 

[09:38] {Threei} Long Setup:  FAS  .56

[09:38] {fernp} Hello everybody

[09:38] {Threei}  stop under .45

[09:38] {Threei}  fern :)

[09:39] {Threei}  scalpers have 1:1 on GE again

[09:39] {Threei}  and FAS

[09:39] {Threei}  half out for day traders

[09:40] {vinod} ge in 10.01

[09:41] {Threei}  unbelieavbly risky call:

[09:41] {Threei}  FEED long .70 break

[09:41] {Threei}  stop under .50

[09:42] {Threei}  for seriously adrenalin deprived only

[09:43] {Threei}  DEBEERS SAYS IT MAY CLOSE DIAMOND MINING JOINT VENTURE IN NAMBIA FOR THREE MONTHS STARTING APRIL 1

[09:43] {Threei}  uh oh... less diamonds on the market... wat to do, what to do...

[09:45] {dino} apol, esi

[09:45] {ese} am still in UTHR dino......I think I should have taken that initial run up

[09:46] {Threei}  FAS stop can be trailed to under .50 for the balance

[09:46] {vint} good morning all

[09:46] {Threei}  vint :)

[09:47] {dino} es, i did not get it, needed coffee

[09:47] {dino} whats your entry

[09:47] {ese} .00

[09:48] {ese} stop is .25

[09:48] {Threei}  GE balance stopped

[09:48] {ese} popping up there again dino

[09:49] {dino} you short?

[09:50] {ese} long

[09:50] {Threei}  market more weakness

[09:50] {ese} sm 300

[09:51] {dino} ahh, the .25 had me, i get it

[09:51] {dino} esi tempting

[09:51] {dino} exp week, watch 5s and 0s imo

[09:51] {ese} don't know what it's doin right now

[09:51] {dino} it's coming to me

[09:52] {Threei} Long Setup:  HIG  .30 break if stays above .20

[09:52] {ese} original patter was readable but not now

[09:52] {ese} pattern

[09:52] {ese} may give something yet

[09:53] {magoo} in'

[09:54] {ese} out UTHR .72

[09:54] {ese} +.72

[09:55] {ese} had enough of it dino

[09:55] {Threei}  HIG over 1:1, scalpers are out, day traders half out and stop to .27

[09:55] {ese} not gonna complain about 210 bills good start to the day

[09:55] {magoo} out .43 TY Boss

[09:55] {Threei}  sure

[09:56] {Threei}  wtg ese

[09:56] {ese} dicy for a bit boss.....almost lost control of it

[09:56] {magoo} mkt seems uncertain here {who could blame it}

[09:56] {dino} gj es

[09:56] {ese} tks

[09:57] {dino} risky wide v sm esi l 0.75

[09:58] {Threei}  morning's good but worked for scalpers better than for holders so far

[09:59] {Threei}  hard to tell what's next, let's wait and see

[09:59] {nemo} wonder if traders aren't sure they're Wile E. Coyote after running off the cliff suspended in mid-air

[09:59] {Threei}  lol

[09:59] {Threei}  my personal feeling is, this hesitation is a trao for bears

[10:00] {nemo} define "trao" please?

[10:00] {dino} pig latin for taco

[10:00] {Threei}  trap typed with strong accent

[10:00] {nemo} thank you  I

[10:00] {nemo} I'm really slow today...probably didn't drink enough last night

[10:00] {Threei}  (or with fat fingers)

[10:01] {dino} missed apol 

[10:01] {dino} was at 64.75

[10:01] {Threei}  pullbacks are supported fairly well

[10:01] {nemo} Yeah GE hit support an bounce

[10:02] {Threei}  so did FAS

[10:02] {Threei}  both started forming new setups

[10:03] {Threei}  GE 10 break again if holding above .90

[10:03] {nemo} nas and spy look like they might be priming also

[10:03] {Threei}  FAS .60 break if holding above .50

[10:04] {ese} L ZION 1/2 .02

[10:04] {ese} on pullback

[10:04] {Threei}  BAC

[10:04] {Threei}  .40 break long

[10:04] {Threei}  stop under .30

[10:06] {dino} uthr pullback

[10:06] {dino} and spike

[10:10] {nemo} wfc vad?

[10:11] {ese} I might go long again dino at .51 uthr

[10:11] {ese} if q's start showing upward momo

[10:12] {Threei}  WFC is obvious long setup on .80 break but gotta let this weakness play out and see the support

[10:12] {Threei}  market is still downtrending

[10:13] {ese} indeed

[10:13] {Threei}  actually, pullback is severe enough on WFC to start hunting for bounce entry

[10:14] {dino} ndx getting hit

[10:14] {ese} ZION stop to break even .02

[10:14] {Threei}  .51 long if holding .45

[10:15] {ese} stopped even ZION

[10:16] {ese} bstop UTHR .51.....it's holding up against dn trending market

[10:17] {dino} apol sm l .05

[10:18] {Threei}  no go WFC

[10:19] {ese} nice dino

[10:19] {dino} ty

[10:19] {dino} waited about 30 min.

[10:19] {ese} L uthr

[10:20] {ese} good wait

[10:20] {dino} cpla, bottomed 48.25ish fri then to 51, watching it again

[10:21] {ese} out UTHR .91 1/2 lot

[10:21] {ese} +.40

[10:25] {dino} gj

[10:27] {ese} tks again

[10:27] {Threei}  why so many prints out of bounds today

[10:28] {dino} out apol .95, +.90

[10:28] {Threei} Long Setup:  RIMM  .65 break if stays above .50

[10:28] {dino} tourny starts today 3i, that is why, march madness

[10:29] {dino} tough crowd, :)

[10:29] {nemo} yeah, all the traders are watching basketball

[10:30] {magoo} in RIMM

[10:31] {Threei}  1:1 RIMM, half out or scalp

[10:32] {Threei}  if taking half, stop to under .60 for the balance

[10:32] {magoo} out RIMM .85 TY

[10:33] {Threei}  welcome

[10:33] {Threei}  over 1:2, feel free to exit in full

[10:34] {Threei}  out .99

[10:35] {Threei}  guys, someone qwith alternative quotre source, do you see also these qierd prints above and below the mnarket?

[10:35] {Threei}  and long tails on one minute chart?

[10:35] {nemo} yes

[10:36] {nemo} They're not in IB

[10:37] {fernp} in esignal there is also prints above and below market

[10:37] {Threei}  ty... seems to be streetwide then

[10:38] {Threei}  AIG, wtf

[10:38] {Threei}  is it those bonuses they give out?

[10:38] {nemo} wow

[10:40] {Threei}  AIG, FRE, FNM... I guess today is a zombie day

[10:41] {Threei}  C too

[10:41] {Threei}  vampires rising, you know

[10:41] {nemo} something must be out that we don't know about yet

[10:41] {nemo} M2M

[10:41] {nemo} has to be it

[10:42] {nemo} well, doesn't have to, but boy do they stand to benefit

[10:51] {Threei}  C... this thing really wants to go

[10:58] {nemo} ge looking like jbe?

[11:00] {ese} am outta here for an hour or so.....see you later.

[11:01] {fernp} by ese

[11:01] {Threei}  take care ese

[11:01] {Threei}  they all do, nemo

[11:02] {nemo} sorry, what?

[11:02] {Threei}  look like JBE

[11:02] {nemo} oh....memory :)

[11:02] {Threei}  yeah... aquiring daytrading memory span (which is akin to one of a moht)? :)

[11:03] {magoo} u like GE here?

[11:03] {nemo} Nah, had that for years

[11:03] {magoo} with mkt help

[11:03] {nemo} needs market I think mags

[11:03] {Threei}  mags, I can't shake off feeling that financials prfepare stron upward move

[11:04] {Threei}  but market doesn't form the bottom yet

[11:04] {magoo} understood

[11:04] {fernp} C is really strong

[11:04] {Threei}  look at FAS... chart is so tempting for .65 break

[11:04] {nemo} I'm hooked on a feelin'  I'm high on believin' that finnies are running freeeeeeeee

[11:04] {magoo} wfc trying

[11:04] {nemo} fas too

[11:05] {Threei}  C is beyond belief

[11:05] {nemo} BAC just broke hod

[11:05] {Threei}  FAS is about to also

[11:06] {nemo} spy moving up nas turnign

[11:06] {Threei}  let's try pullbacks?

[11:07] {Threei}  if we get any

[11:07] {magoo} ALERT ALERT

[11:07] {Threei}  BAC .35 - .40 area

[11:07] {magoo} went restrm..mkts went up

[11:07] {magoo} its a tell

[11:07] {Threei}  lol mags

[11:07] {Threei}  FAS .60 - .65 area

[11:11] {Threei}  as much as I don't like buying breaks on these stocks, we are not getting pullbacks anymore

[11:12] {magoo} mkts trying here

[11:14] {Threei}  FAS, .70 break, will try it if no more pullback

[11:14] {nemo} GE broke but is pulling back

[11:16] {Threei}  C... mama mia

[11:17] {magoo} C..crytinbg

[11:18] {fernp} BAC breaking hod

[11:20] {magoo} [11:13] {magoo} mkts trying here

[11:20] {Threei}  half out FAS .82

[11:21] {dino}  cpla sm l .75

[11:21] {Threei}  scalpers take it off and look for reentry

[11:21] {magoo} out TY

[11:23] {Threei}  thanks to strength of finnies, NASDAQ and NYSE switched places today

[11:23] {dino} lphi sm l .50

[11:23] {fernp} C pulling back

[11:23] {Threei}  C needs serious selloff

[11:24] {Threei}  like 2.20 - 2.30

[11:24] {fernp} ty

[11:24] {Threei}  I can't bring myself to buy it ere

[11:28] {dino} cploa stopped -.42

[11:30] {Threei}  C panic is coming it feels

[11:30] {Threei}  (US) TREASURY: WILL PURCHASE UP TO $15B IN SECURITIES BACKED BY BUSINESS LOANS

[11:34] {Threei}  anyone went for GE break?

[11:35] {Threei}  start partialling out here

[11:36] {Threei}  FAS new high, stop to under .70

[11:36] {magoo} WFC nuts

[11:40] {Threei}  (UK) UK TREASURER DARLING: REACHING AGREEMENT ON FUNDING IMF WILL HAPPEN AT THE G20 MEETING IN APRIL

[11:47] {Threei}  prez on TV

[11:55] {Threei}  C perfect bounce

[11:55] {Threei}  anyone caught it?

[12:01] {Threei}  TREASURY'S GEITHNER: ALLOWING SMALL BUSINESSES TO CARRY BACK OPERATING LOSSES FOR FIVE YEARS VERSUS TWO YEARS PRIOR

[12:03] {Threei}  not sure why there must be some strict limit on that

[12:04] {Threei}  it's not like operating losses dissolve by themselves in 2 years or 5 or whenever

[12:06] {Threei}  FAS pullback seems to be deep enough to start hunting again

[12:06] {magoo} call edntry pl

[12:06] {Threei}  want littrle pullback, holding above .60, then another strong hit on .66

[12:07] {Threei}  ok... .66 long if holding above .60

[12:08] {Threei}  and GEN 10 break

[12:08] {Threei}  if holding above .95

[12:08] {Threei}  GE

[12:10] {magoo} in ge

[12:10] {magoo} in fas'

[12:10] {dino} cpla sm l .20

[12:13] {Threei}  half out FAS

[12:15] {Threei}  stop to .64

[12:17] {pita} got few cents FAS TY - off to day job, gl

[12:17] {Threei}  take care pita

[12:22] {Threei}  Terrific Tim on TV

[12:22] {Threei}  PRESIDENT OBAMA: PURSUING EVERY LEGAL AVENUE TO BLOCK THE AIG BONUSES

[12:24] {magoo} vad..C here bounce?

[12:25] {Threei}  not very clear

[12:28] {Threei}  PRESIDENT OBAMA: PURSUING EVERY LEGAL AVENUE TO BLOCK THE AIG BONUSES, BELIEVES AIG BONUS ISSUE IS ABOUT "FUNDAMENTAL VALUES"

[12:28] {Threei}  - Obama believes the government needs more tools to protect taxpayers and the overall financial system from situations like AIG.

[12:28] {Threei}  - NY AG Cuomo also noted that he is seeking information about which individuals received bonuses at AIG. Cuomo states he plans to issue a subpoena to AIG at 4pmEST

[12:30] {Threei}  GE over 1:1

[12:30] {fernp} out ty

[12:30] {Threei}  welcome

[12:30] {Threei}  FAS out in full

[12:30] {Threei}  .82

[12:33] {magoo} out GE .14 here TY

[12:33] {Threei}  good boy GE

[12:33] {Threei}  :)

[12:37] {magoo} out FAS here .84 TY

[12:37] {Threei}  :)

[12:37] {Threei}  {--- intends to limit hiscomments to smiley faces from now on

[12:37] {Threei}  less room for mistypes

[12:38] {Threei}  and optimisim emanates from those freely

[12:47] {Threei}  GOLDMAN SACHS ECONOMIST O'NEILLL: NOT LIKELY CHINA WILL DUMP US TREASURY SECURITIES - TIMING UNCERTAIN

[12:49] {Threei}  BAC new high

[12:50] {Threei}  PREVIEW: MARCH NAHB HOUSING MARKET INDEX DUE OUT AT 1PMET

[12:50] {Threei}  **consensus expectation: 9e v 9 prior

[12:50] {Threei}  - analyst estimates range between 8 and 11

[13:00] {Threei}  *MARCH NAHB HOUSING MARKET INDEX: 9 V 9E

[13:01] {Threei}  SPOKESPERSON: AIG PLANS TO RESPOND TO NY AG CUOMO'S OFFICE

[13:02] {Threei}  really? wow

[13:02] {Threei}  we thought they wouldn't lower themselves to responding

[13:03] {dino} see what happens when you take govt "help"

[13:05] {magoo} we in anything vad?

[13:05] {Threei}  well... I have to say, it does seem a bit too much when SIG is rescued by taxpayer money yet gives out generous bonuses, using the bailout funds no less, to those same people who run it into the ground

[13:05] {Threei}  no mags

[13:05] {Threei}  sold FAS and GE

[13:06] {dino} i agree 3i, just stating this is why the banks don't want more

[13:06] {Threei}  yeah

[13:06] {Threei}  gotta keep that talent eh

[13:06] {magoo} ok..took exits there

[13:19] {nemo} GE Va

[13:19] {nemo} reak of .30?

[13:19] {nemo} geez.  GE Vad...break of .30?  then again still lunch time

[13:19] {nemo} oops

[13:21] {Threei}  yeah, I'd prefer to hunt for pullbacks

[13:21] {Threei}  at least you get more than 3-5 cents move, and the stop is tighter

[13:22] {nemo} To think or not to think????

[13:22] {Threei}  resounding no

[13:22] {nemo} Yeah, except for what, RIMM, it's basically been scalping

[13:22] {nemo} hurts

[13:22] {Threei}  well, last two plays on GE and FAS offered more than a scalp

[13:23] {Threei}  but mostly thanks to exactly that kind of entry

[13:23] {Threei}  pullbacks, tight stops

[13:23] {Threei}  ECB'S TRICHET: ECB IS IN CLOSE CONTACT WITH OTHER INSTITUTIONS

[13:23] {nemo} yeah...tight stop plays 

[13:23] {Threei}  I hope they don't mean mental ones

[13:24] {nemo} maybe they're swapping spit

[13:24] {nemo} sorry...that even viscerally disgusted me

[13:26] {Threei}  ECB'S TRICHET: EURO IS 'IRREPLACEABLE', IMPORTANT DURING DIFFICULT TIMES

[13:26] {Threei}  why do I find it hard to believe

[13:29] {Threei}  GE pullback into support

[13:31] {Threei}  in .23

[13:32] {Threei}  stop .19 or 16, depending on your trading idea here

[13:32] {magoo} in .24

[13:33] {dawg} in earlier.22 GE

[13:35] {Threei}  lol, with .22 entry you have almost 1:2 here

[13:35] {Threei}  not almost... 1;2

[13:35] {Threei}  beauty of pullback entries

[13:35] {magoo} vad..where u waiting so i can undercut :)

[13:36] {Threei}  {--- not saying

[13:36] {Threei}  scalpers offer .30

[13:36] {magoo} sheesh

[13:36] {magoo} out .33 TY

[13:36] {Threei}  :)

[13:36] {magoo} too many ty today he he

[13:36] {dawg} out .33 ty Vad great bounce call

[13:36] {Threei}  sorry

[13:37] {magoo} goes against every fiber in my being

[13:37] {Threei}  I'll try to make a few losing calls now

[13:37] {magoo} then u get "f'y" lol

[13:37] {Threei}  but that will be in tune with your natural inclinations

[13:37] {magoo} yea...grinn everytime i say it

[13:38] {Threei}  FAS .75 was same entry idea... missed it

[13:39] {magoo} read AAPL vad

[13:39] {Threei}  let's see...

[13:39] {Threei}  A...

[13:39] {Threei}  then A again...

[13:40] {Threei}  then, umm.... hmmm P?

[13:40] {magoo} OY

[13:40] {nemo} he's becoming insufferable

[13:40] {ese} hows everyone doin?

[13:40] {ese} i'm back

[13:40] {ese} everybody filthy stinking rich yet?

[13:40] {Threei}  I am torturing magoo, ese

[13:40] {ese} beauty

[13:41] {magoo} ok..took aapl .35

[13:44] {Threei}  nice spike

[13:45] {magoo} out AAPL

[13:46] {Threei}  BAC wants 7 and above, FAS 6 and above

[13:47] {nemo} pullback to .85 on FAS, now on BAC?

[13:48] {Threei}  market dependent but the general idea is this

[13:48] {Threei}  hard to tell whether we get any more pullbacks...

[13:50] {dino} cpla stop to .15\

[13:50] {dino} out .16, +.96

[13:52] {magoo} keep eye on WFC vad

[13:52] {nemo} here come the eye jokes

[13:54] {nemo} mmhhh..I was going to say, don't like the way FAS was just hanging there

[13:55] {Threei}  it's back into support

[13:55] {nemo} yep

[13:55] {Threei}  watch the market, both FAS and BAC are buyes when market reverses

[13:57] {dino} when?

06[13:58] * magoo slaps laserdave around a bit with a large trout

[13:59] {Threei}  in BAC .74

[13:59] {Threei}  in FAS .76

[14:02] {Threei}  come on things, move already

[14:05] {Threei}  I meant move UP, you two idiots

[14:05] {nemo} what i do?

[14:06] {Threei}  grrr

[14:06] {Threei}  stopped

[14:06] {nemo} stoppe

[14:07] {dawg} stopped

[14:11] {laserdave} laserdave smacks magoo with a skinny trout

06[14:12] * magoo slaps laserdave around a bit with a large trout

[14:12] {magoo} vad??

[14:12] {Threei}  hmm?

[14:13] {magoo} slap dave?

[14:13] {Threei}  nah... I am trying to mature beyond pillow fights

[14:13] {nemo} dueling pistols

[14:18] {Threei}  still feels to me like up is the way to go but finding entries here is not easy

[14:19] {nemo} in fas .72

[14:19] {dino}  ceco sm l .98

[14:24] {nemo} stopped .63

[14:32] {Threei}  a lot of indecisiveness here... waiting it out

[14:35] {dino} apol trig .00 sm l

[14:36] {dino} pulp so careful

[14:40] {magoo} vsad..GS bounce?

[14:40] {Threei}  can't tell mags

[14:40] {Threei}  need anoter pullback and higher low

[14:42] {dino} ceco stop to .38

[14:43] {dino} out ceco .38, +.40

[14:49] {dino} uthr sm l .48

[14:52] {Threei}  let's see if we can get double bottom here

[14:52] {Threei}  .55 FAS support

[14:53] {dino} uthr stoped -.28

[14:53] {Threei}  not holding but seloff very sharp

[14:54] {dino} f'ing reverse slip

[14:54] {Threei}  in .51, stop .48

[14:55] {Threei}  can I afford 3 cents stop?

[14:55] {magoo} depends..u have 200,000 shares?

[14:55] {nemo} wise-ass

[14:55] {Threei}  remember I said I was trying to outgrow pillow fights?

[14:55] {Threei}  I changed my mind

06[14:55] * Threei slaps magoo around a bit with a large trout

06[14:56] * nemo slaps Threei around a bit with a large with a concrete pillow

[14:56] {magoo} :)

[14:56] {nemo} got your back mags

[14:56] {vinod} fas in 5.47

[14:57] {magoo} ty

[14:57] {Threei}  careful vinod, keep tight stops

[14:57] {nemo} vinod...were you a motorcycle jumper in an earlier career?

[14:57] {Threei}  market is not reversing so far

[14:57] {vinod} sto is at 5.44

[14:57] {vinod} i just came in-nemo no jump

[14:59] {magoo} mkts clubbed

[14:59] {magoo} gs lows

[14:59] {vinod} wow!!!!!!!! what happen

[14:59] {nemo} FAS bouncing off morning support

[15:00] {magoo} vinod..it was breaking down

[15:00] {magoo} do not buy vads stops imo

[15:00] {Threei}  WSJ: US TREASURY TO UTILIZE ITS $30B INFUSION TO FORCE REPAYMENT OF BONUSES

[15:02] {magoo} financials getting CLUBBED

[15:03] {dino} like a baby seal

[15:03] {nemo} if FAS doesn't hold this bottom, closes gap to Friday?

[15:04] {vinod} nemo you should have told me to buy faz at 35

[15:04] {nemo} I'll make a mental note to tell you next time it's a buy

[15:04] {nemo} Sorry

[15:04] {magoo} [15:04] {vinod} nemo you should have told me to buy faz at 35

[15:04] {magoo} REALLY

[15:04] {nemo} Then again...Vad told me not to think...it's his fault

[15:05] {nemo} FAS to Friday

[15:13] {magoo} any bounce candidates lord vader?

[15:14] {i2romantis} lol

[15:15] {dino} apol stopped b/e

[15:15] {Threei}  yeah... FAZ is bounce candidadte {G}

[15:17] {nemo} well....let's go for the double bottom on FAS again!

[15:17] {Threei}  nope

[15:17] {nemo} gonna' close that gap...huh Dino?

[15:17] {Threei}  this is cascading selloff, lower lows

[15:21] {nemo} The circle is complete...FAS

[15:23] {Threei}  very nice panic

[15:23] {Threei}  let's let it settle down

[15:24] {Threei}  gotta wait out extreme fear

[15:24] {nemo} something paradoxical about the term "very nice panic"

[15:24] {Threei}  well... from a trader's point of view :)

[15:25] {Threei}  we don't want them all just to go and go

[15:25] {Threei}  gotta get some new entries

[15:25] {Threei}  and this selloff takes us there

[15:25] {nemo} Yeah, FAS was getting much too expensive

[15:29] {dino} chatter the govt soon will no let shares govt owns in banks/financials to be shorted

[15:29] {nemo} yeah, supposedly that's what's been behind the jumps today

[15:29] {Threei}  well, what was behind the drop then?

[15:30] {nemo} I was just throwing it out there for conversation

[15:30] {Threei}  I just love those explanations

[15:30] {nemo} It's a headline

[15:30] {Threei}  company announces bad earning and stock drops - they say "because of"

[15:31] {Threei}  company announces bad earning and stock goes up - they say "in spite of"

[15:31] {nemo} Oil prices rise on stocks, dollar

[15:31] {Threei}  bunch of entertainers

[15:31] {nemo} Everything is fiction

[15:32] {Threei}  if they gave it a 5 second's pause and thought, they would notice that there was no contra-announcement, yet financials reversed

[15:33] {Threei}  proving beyond reasonable doubt that original explanation for the rise was false

[15:33] {nemo} Of course, since the "news" made it all go up, maybe because it was just "news"  people decided to sell...eh

[15:34] {nemo} spaghetti method of discernment...trhow against wall, see what sticks

[15:34] {nemo} throw

[15:35] {dino} sm l uthr .70

[15:36] {Threei}  FAZ

[15:36] {Threei}  40 break long small sharea

[15:36] {Threei}  stop under .70

[15:37] {Threei}  1:1 half out or scalp

[15:37] {Threei}  1:2

[15:38] {Threei}  out in full +.70

[15:38] {Threei}  lol, too soon

[15:38] {Threei}  anyone??

[15:38] {dawg} got part of it thanks Vad

[15:38] {Threei}  full dollar from trigger

[15:38] {Threei}  dawg :)

[15:38] {vinod} yes.i have them at 40.02

[15:39] {Threei}  1 minute play

[15:39] {vinod} 0ut 40.10

[15:39] {Threei}  don't oversit vinod, end of today is very volatile

[15:39] {Threei}  good job

[15:39] {Threei}  wtg!

[15:39] {Threei}  wait... 40.10?

[15:39] {Threei}  or 41.10?

[15:39] {vinod} 41.10

[15:39] {Threei}  whew

[15:39] {Threei}  scared me :)

[15:40] {Threei}  FAZ really worth playing for more than 8 cents, lol

[15:40] {vinod} too fast to type

[15:41] {Threei}  no kidding

[15:41] {Threei}  this adrenalin-charged stock

[15:41] {Threei}  notice guys, no double bottom worked in FAS drop

[15:41] {Threei}  this is your typical cascaduing selloff

[15:41] {Threei}  not really good idea to be bottom-fishing in that

[15:43] {dino} cpla sm l .75

[15:44] {Threei}  interestingly, while FAS is red, BAC and even dog with flease known as C are solidly green

[15:44] {nemo} they've definitely given up some territory thought

[15:45] {nemo} though

[15:49] {Threei}  too bad day is over

[15:50] {Threei}  we are at the point very likely tyo produce reversal

[15:50] {Threei}  if not 10 min till the end of trading session I would go for trend reversal here

[15:51] {dino} out cpla .30, +.55

[15:55] {vinod} see you tomorrow

[15:55] {Threei}  AIG

[15:55] {Threei}  US TREASURY OFFICIAL CONFIRMS THAT US WILL ADD PROVISIONS TO $30B AID PAYMENTS TO RECOUP BONUS PAYMENTS

[15:55] {Threei}  how about:

[15:55] {Threei}  it was idiotic on our part not to have any provisions to bailout money in a first place

[15:56] {Threei}  now that we provided money with no strings attached, we are so enraged that they take money with no strings attached

[15:57] {Threei}  mags, you here?

[15:58] {nemo} low volume on the Nas

[15:59] {Threei}  and Dow?

[15:59] {nemo} 190%

[15:59] {nemo} S&P 125%

[16:00] {Threei}  okay gys

[16:00] {Threei}  thank you all

[16:00] {Threei}  havce a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {vint} Thanks Vad, good evening all

[16:00] {nemo} gnite

[16:01] {dino} thx all, good times

[16:01] {Threei}  ENER

[16:02] {Threei}  Q3 GUIDANCE NO LONGER APPLICABLE DUE TO ECONOMIC ENVIRONMENT

[16:04] {Threei}  ENER getting killed

Mar 13 2009

Mornng brought powerful plays on financial stocks. 50 cents on WFC, nice runs on FAS and BAC made the day. Second half was not too active as the pace slowed greatly. By any standard, very nice end to a week.

Session Time: Fri Mar 13 00:00:00 2009

[08:34] {Threei}  Good morning

[08:34] {cosmo} PALM springs...

[08:34] {nemo} heheeheheh

[08:34] {nemo} See that second link

[08:35] {Threei}  cosmo, nemo :)

[08:35] {cosmo} :)

[08:35] {nemo} cosmic :)

[08:35] {Threei}  05:53am [PALM] RBC Raised PALM to Outperform from Sector Perform

[08:35] {nemo} Only saw that 3 minute clip, but boy did Cramer take it in the shorts.  Give him credit for going on

[08:36] {nemo} Does that make it a sell?

[08:36] {cosmo} nemic:)

[08:36] {Threei}  BROADPOINT CAPITAL RAISED DELL TO NEUTRAL FROM SELL, PRICE TARGET: $11.50

[08:36] {Threei}  - Says stock is already discounting the challenging fundamentals.

[08:38] {nemo} geez...stretching their necks out on that 11.50 target...

[08:39] {Threei}  http://www.youtube.com/watch?v=tIPqe5bsjx4

[08:40] {nemo} It's up...was looking for that earlier this morning.

[08:42] {cosmo} QGEN

[08:42] {Threei}  JPM

[08:42] {Threei}  SHARES INITIATED AT OUTPERFORM AT BAIRD, PRICE TARGET $33

[08:44] {Onix} Good morning

[08:44] {Threei}  onix :)

[08:47] {nemo} John Stewart did a great job...impressive

[08:47] {Threei}  he was more restrained than in previous segments

[08:48] {nemo} well, he was treating this as a news story as opposed to a comedy skit...fantastic.

[08:48] {cosmo} same thing i thot

[08:49] {cosmo} i like the blend

[08:49] {nemo} I'm sorry cosmo...you thinking the same thing as me is not a sign of mental health.

[08:49] {nemo} remember, Vad always tells me not to think

[08:50] {cosmo} i understand

[08:50] {nemo} thanks

[08:51] {buyemsellem} morning. watching stewart/cramer to kick things off

[08:51] {nemo} Mmmmmhhhhh....Friday the 13th heading into the Ides of March. et tu Vad?

[08:52] {Threei}  buyem :)

[08:54] {Threei}  this is interesting read:

[08:54] {Threei}  http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=yahoo

[08:55] {nemo} see where the Chinese are voicing concern over US Debt?

[08:55] {Threei}  shrug

[08:56] {cosmo} debt happens

[08:56] {Threei}  eqzaktly

[08:56] {Threei}  they may express concerns... so what

[08:57] {cosmo} they could send troops

[08:57] {cosmo} nah

[08:57] {nemo} I understand there is a certain catch-22 about their situation...to protect their debt, they have to buy debt...but

[08:57] {cosmo} debt eventually eats its own tail

[08:57] {Threei}  nothing would be stupdier than to challenge your debtor, who also happens to be more powerful militarily

[08:58] {nemo} anyway...Vad, what conditions do you require before being comfortable with swing trades?

[08:59] {Threei}  events wise, m2m change to come out and be accpeted by the market as a good solution,

[08:59] {Threei}  chart wise, either puillback with higher low and rally contiuation

[08:59] {Threei}  or

[08:59] {Threei}  consolidation into m2m and breakout

[09:00] {Threei}  all this would show this is more than technical bounce

[09:00] {Threei}  I mean, as nice as it is, on a big scale of things this very small bounce

[09:01] {Threei}  still remains within the framework of "little bounce after huge selloff"

[09:02] {nemo} 3 days...BFD...of course, now the banks are saying they're healthy, so how much of a manipulation/scam has the last few months been...now m2m is being questioned and possibly adjusted, and as you said yesterday about things not being as bad...from a financial structure point of view...as we thought. 

[09:02] {dptl} good morning

[09:02] {Threei}  dp :)

[09:03] {Threei}  I don't know how bad things really are... but the thing is, nobody does

[09:04] {Threei}  we still have enormous volume of CDS to unwind

[09:04] {nemo} yes

[09:04] {Threei}  and no one knows how that is going to go

[09:04] {Threei}  we still have major sectors of economy on a brink of collapse

[09:04] {nemo} There is also to be determined whether there has been a secular shift in consumption

[09:04] {Threei}  enter GM

[09:05] {Threei}  so...

[09:05] {Threei}  before we all turn into raging bulls

[09:05] {nemo} Yes, and if OPEC can force the price of oil up...will drain capital away from economy

[09:05] {Threei}  let;'s let the charts tell us what to do

[09:05] {Threei}  I don't think they have any power at this point

[09:05] {nemo} Raging bull...nah...chicken little

[09:06] {Threei}  LVS

[09:06] {Threei}  EARLY STRENGHT ATTRIBUTED TO POSITIVE COMMENTS AT BERNSTEIN

[09:06] {Threei}  - likely use exiisitng assets to survive

[09:06] {Threei}  - reiterates OP rating and $8 PT

[09:07] {Threei}  nice target

[09:08] {cosmo} GM should make free energy motors, mag lev trains, and such

[09:08] {cosmo} their shovel ready for it

[09:08] {cosmo} they're

[09:09] {cosmo} wait...'free' ruins everything ...sorry

[09:09] {magoo} morning

[09:10] {Threei}  magoo :)

[09:10] {vinod} Good Morning

[09:11] {Threei}  vinod :)

[09:11] {Threei}  BOFA/MERRILL LYNCH INITIATES CLNE WITH NEUTRAL, PRICE TARGET: $5.50

[09:12] {magoo} game plan vad?

[09:13] {Threei}  pretty much same as yesterday for the first half of the day:

[09:13] {Threei}  assuming rally xcxontinues want to buy pullbacks and let the move develop, as we did with GE yesterday

[09:14] {Threei}  if that works as planned, then re-evaluate second half of the day to try and gauge

[09:14] {Threei}  whether profits will be taken into the weekend or shorts will run screaming

[09:15] {vinod} do you think FAZ may be good buy if market goes up 150

[09:16] {Threei}  I don't think in these terms

[09:16] {Threei}  why 150? why not 50 or 250?

[09:16] {vinod} sorry, thanks

[09:16] {Threei}  it's arbitrary numbers

[09:16] {Threei}  FAZ will be a good buy when this rally peters out

[09:17] {Threei}  and the question when it happens is something no one on tha planet is able to answer I suspect :)

[09:18] {cosmo} they might called the Globero

[09:18] {cosmo} might call it...

[09:18] {ese} morning.......had a late show last night....eyes are barely open....

[09:19] {Threei}  ese :)

[09:19] {ese} you know what they say though...."if your gonna fly with the eagles at night ya gotta learn to walk with the crows in the day"

[09:19] {Threei}  hmmm... you mean youy usually trade with your eyes open??

[09:19] {Threei}  I gotta try that...

[09:20] {dino} gm all

[09:20] {nemo} Why Vad, you have the 3rd eye-omniscient, all seeing...cough!

[09:20] {Threei}  dino :)

[09:21] {ese} I did trade with my eyes open ...it wasn't as much fun as just randomly selecting stuff

[09:21] {dino} that his wandering eye

[09:22] {Threei}  BALTIC DRY BULK INDEX -3.6%, 3RD STRAIGHT DECLINE ; LARGEST FALL SINCE FEB 13TH

[09:22] {cosmo} also a friday

[09:22] {cosmo} hmm

[09:24] {Threei}  STT very small gap comparing to the rest

[09:24] {Threei}  I'd expect it to do its usual sharp move down after open

[09:24] {cosmo} PALM pre nkt high = 8.40   fwiw

[09:24] {dino} es, i use the coin flip system

[09:24] {cosmo} mkt

[09:28] {vint} good morning all

[09:28] {Threei}  vint :)

[09:29] {Threei}  I reposted in the floor for late arrivals

[09:31] {Threei}  STT pulling back

[09:32] {Threei}  prepare half lot

[09:32] {Threei}  be ready but don't jump in too early

[09:33] {Threei}  23 break long

[09:34] {nemo} blew by

[09:34] {Threei}  back into it, next support is .75

[09:34] {Threei}  to put a stop under

[09:37] {ese} L DRYS .21

[09:37] {ese} bounce

[09:38] {dino} online edu hit

[09:38] {vinod} stt in 22.86

[09:39] {ese} if the Q's turn against me i'm out

[09:39] {Threei} Long Setup:  FAS  .25

[09:39] {Threei}  stop under .10

[09:44] {vinod} stt out 23.05

[09:44] {Threei}  market is still a bit hesitant

[09:44] {Threei}  not very clear

[09:44] {ese} DRYS hangin in there

[09:44] {dino} apol, esi, cpla blood

[09:45] {Threei} Long Setup:  WFC  .20 break if stays above 14

[09:48] {dino} apol gap fill from mon. close

[09:49] {dino} esi woprking on it

[09:49] {Threei}  okay market, time for higher highs

[09:49] {dino} filled

[09:52] {dino} v s .00, stop .37

[09:54] {fernp} Hello everybody

[09:54] {Threei}  fern :)

[09:55] {Threei}  *MARCH PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 56.6 V 55.0E

[09:55] {Threei} Long Setup:  BAC  .16 if stays above .10

[09:55] {wulff} probably alot of short screaming FALL!!! but so far no go

[09:55] {dino} cov v .60, +.40

[09:56] {dino} too soon

[09:56] {Threei}  we need to hold the lows of these pullbacks and start making new highs

[09:56] {dino} pins and needles mode

[09:56] {Threei}  if this happens, we are in for the stunning rally

[09:56] {ese} i;m all for the higher highs theory

[09:57] {dino} still not liking those mon. close gaps

[09:59] {ese} tick showing a tad bit more buying coming into the market...not much though

[09:59] {dino} es apol

[09:59] {Threei}  okay, things start looking as we want them to

[10:00] {nemo} 1/2 out fas .29 in .19

[10:00] {Threei}  next push should end this nonsense and launch us into rally territory

06[10:00] * Threei kicks the market in the rear

[10:01] {ese} thinkin bounce dino apol

[10:01] {dino} yes

[10:01] {dino} was at 64.60 just moved to .00

[10:01] {dino} esi, cpla same deal

[10:02] {Threei}  OK... let it be last pullback

[10:02] {Threei}  this grind requires more patience than I am accustomed to over last few months, lol

[10:02] {ese} i just added 2nd lot on DRYS after high low....want to watch apol though

[10:02] {Threei}  BAC at 1:1, holding

[10:03] {Threei}  not a scalp for me

[10:03] {ese} .50 bounce right there

[10:03] {ese} really nice bounce APOL

[10:04] {Threei}  WFC over 1:1 here, taking half off

[10:04] {ese} come on DRYS

[10:05] {magoo} out WFC .44 TY

[10:05] {Threei}  +.27

[10:05] {dino} well that sucked missed esi and apol

[10:05] {Threei}  BAC 1:2, half out

[10:05] {ese} whoa dino....nice bounce APOL

[10:05] {Threei}  WFC stop to .15

[10:06] {ese} NOOOOOOO say it isn't so dino.........

[10:06] {dino} so

[10:06] {nemo} 1/4 more fas .39

[10:06] {Threei}  FAS baby

[10:06] {magoo} out FAS .41 TY

[10:06] {Threei}  welcome

[10:06] {ese} trin falling tick climbing....come on market

[10:06] {nemo} ty vad

[10:06] {Threei}  half out FAS

[10:07] {Threei}  nemo :)

[10:07] {dino} cpla sm l .14

[10:07] {nemo} stop to where on fas vad?

[10:07] {Threei}  stop to .15

[10:07] {Threei}  I am really giving the room to breathe tosday, ain't I

[10:07] {nemo} you is

[10:08] {Threei}  WFC, out in full here

[10:08] {Threei}  +.52

[10:10] {Threei}  BAC 1/4 more out .29

[10:10] {nemo} out fas .45

[10:10] {nemo} ty vad

[10:11] {Threei}  FAS 1/4 more out .43

[10:11] {wulff} good calls

[10:11] {Threei}  ty

[10:11] {nemo} the Vadinator

[10:12] {Threei}  stops for last little pieces:

[10:12] {Threei}  BAC .14

[10:12] {Threei}  FAS .19

[10:12] {ese} could have walked from here to vads house for the amount of time drys is taking

[10:13] {Threei}  lol

[10:13] {Threei}  don't intend to lose money on these last portions as you see,

[10:13] {ese} put the coffee on vad

[10:13] {Threei}  and eant to leave them some room

[10:13] {Threei}  coffee?

[10:13] {Threei}  coffee??

[10:13] {nemo} you'll have to drink it black, ese

[10:13] {Threei}  come on

[10:13] {nemo} voka

[10:13] {nemo} vodka

[10:14] {Threei}  dp says

[10:14] {Threei}  no vodka - me no go"

[10:14] {dptl} lol

[10:14] {dino} old mossback rimm not following

[10:18] {ese} can barely see this morning as it is.....vodka would make me blind

[10:18] {Threei}  ok ese... softened version, just for you:

[10:18] {Threei}  coffee via hypodermic needle

[10:19] {ese} that'll work nicely

[10:21] {Threei}  kind of defining moment now

[10:21] {Threei}  FAS breaks .50, next leg starts

[10:21] {Threei}  if can't, we may get a breather

[10:21] {Threei}  BAC baby

[10:22] {Threei}  FAS baby

[10:23] {Threei}  let's start trailing morfe agressively

[10:23] {dino} ctrp

[10:23] {Threei}  FAS new stop is .34

[10:24] {nemo} Would new entry for FAS be break of .50

[10:24] {nemo} I'm out 

[10:24] {Threei}  BAC .24

[10:24] {Threei}  I hate breakoutys on this type of stocks

[10:25] {Threei}  okay

[10:25] {Threei}  out FAS

[10:25] {Threei}  gotta sit it out now and evaluate what's happening

[10:26] {dino} cpla stopped -.38

[10:26] {Threei}  pullback is a bit too sharp for my taste

[10:26] {nemo} Friday the 13th...I don't think this will be another euphoric day going into the weekend...steady digestion would be a success

[10:27] {dino} ctrp sm s .01

[10:29] {dino} bstop is .33

[10:30] {Threei}  sharp drop FAS

[10:31] {Threei}  not sure what's happening but happy with my exits

[10:32] {Threei}  I don't see any news

[10:32] {nemo} I think your comment is probably prevalent out there in the markets

[10:32] {nemo} Dino's retracements

[10:32] {ese} somethings rotten in Denmark....market internals not looking so good

[10:34] {Threei}  BAC is interestingly storng vs FAS

[10:36] {nemo} C might be setting up for a short, but looks like the markets are strengthening a tad

[10:39] {dino} ctrp bstop to .91 friday scalp mode

[10:39] {dino} to .75

[10:40] {dino} to .61

[10:41] {dino} riding it like a beat mule

[10:41] {dino} cov .61, +.40

[10:41] {magoo} WFC here long vad?

[10:41] {Threei}  not sure

[10:42] {dino} cpla lasyt try .15 sm l

[10:42] {Threei}  WHITE HOUSE ADVISOR SUMMERS: NEXT ECONOMIC EXPANSION SHOULD BE 'SOUND' AND NOT DUE TO 'FINANCIAL EXCESS'

[10:42] {nemo} seems to be following market

[10:42] {nemo} that would be new...the last three were because of financial excess

[10:43] {dino} you have to define the word "should"

[10:43] {Threei}  ugh... sorry, forgot to post BAC exit on the last poriton at .41

[10:45] {dino} ice, v, aapl, rimm

[10:45] {Threei}  - says can not predict when the crisis will end.

[10:45] {nemo} 2012

[10:49] {Threei}  consumer spending has appeared to stabilize

[10:52] {Threei}  glad we stayed away from WFC

[10:52] {Threei}  very unclear moment here

[10:54] {Threei}  - Comments that Obama will dicuss funding of emerging markets and increasing overall global demand at the G20 meeting (Note: White hosue press sec Gibbs made similiar forecasts yesterday)

[10:54] {Threei}  - Remarks that bank stress tests will create 'necessary adjustments'

[10:54] {Threei}  ummm

[10:54] {Threei}  funding of emerging markets?

[10:54] {Threei}  are we bailing out the world now?

[10:56] {Threei}  don't jump on these pullbacks just yet

[10:57] {nemo} they're only pieces of paper...

[10:57] {Threei}  well, they are IOUs

[10:57] {nemo} If they were a softer ply they'd actually be useful

[10:58] {Threei}  I am not trying to buy here, prefer to miss the bounce than to get caught in the next wave of selling

[10:59] {Threei}  our morning gains is nothing to sneeze at

[10:59] {Threei}  I'll better sit out a few hours of unclear actions than jeopradize them needlessly

[10:59] {Threei}  NASDAQ went red

[11:00] {Threei}  DJI is light green, S%P ia barely above the water

[11:00] {Threei}  look at FAS and WFC

[11:00] {nemo} BAC too

[11:00] {Threei}  yeah

[11:01] {Threei}  BAC is better bounce candidate

[11:02] {nemo} pNeed a double bottom after this drop?

[11:02] {Threei}  WFC actually managed to go red

[11:03] {Threei}  BAC support is 6.05 now

[11:03] {Threei}  pullback closer to it and pause is a valid entry point for double bottom

[11:03] {nemo} indexes turning up

[11:04] {Threei}  no way to tell where this pullback on BAC will bottom, watch FAS for guidance and try to catch the price close enough to support for stop comfort

[11:05] {Threei}  and don't jump on price alone, your signal is drop, pause, uptick

[11:06] {Threei}  watch FAS to turn up

[11:06] {nemo} yeah, could be upside down C&H

[11:06] {Threei}  right

[11:07] {Threei}  lost .05

[11:07] {Threei}  FAS drops like a stone

[11:07] {nemo} got a long way to go

[11:07] {nemo} look for .80?

[11:08] {Threei}  don't know

[11:08] {Threei}  it's not about prices at this point

[11:08] {nemo} just being academic falling knives and all

[11:08] {Threei}  this is not a technical move that can be read in terms of support resistance

[11:09] {Threei}  all markets are red

[11:09] {Threei}  now tell me... aren't you happy to be a DAY trader these days?

[11:09] {Threei}  we caught a beautiful march up in the morning,

[11:10] {Threei}  we correctly determined the potential, more than a scalp but not a full day hold yet,

[11:10] {Threei}  exited very close to the top

[11:10] {Threei}  and sat out this fall of a cliff

[11:11] {Threei}  and if you all fell asleep I will too

[11:30] {fernp} .

[11:31] {Threei}  we are in deep coma fern

[11:31] {Threei}  which is to say, we are in our normal state IQ wise

[11:31] {dptl} yawn......

[11:32] {fernp} I have to learn to do that

[11:32] {Threei}  it's easy

[11:32] {Threei}  ask dp

[11:32] {dptl} it' easy....Firn...vodka is the key..

[11:32] {Threei}  involves healthy dose of Stoli

[11:33] {dptl} sorry fern..

[11:34] {fernp} no problem. Looking for vodka right now

[11:35] {dptl} it's should be in the fridge...always..no need to look for it then..:)

[11:41] {Threei} Long Setup:  BAC  6 break, just a scalp

[11:42] {nemo} stop?

[11:43] {Threei}  depends on where it bottoms on this pullback

[11:43] {Threei}  under .90 invalidated

[11:43] {Threei}  .96 held

[11:43] {Threei}  so if breaks from here, you have your stop

[11:46] {Threei}  market weakens more

[11:46] {Threei}  so does FAS

[11:46] {Threei}  good test for BAC's resolve

[11:46] {nemo} out

[11:48] {Threei}  ECB'S WELLINK: IT IS NOT AN OPTION FOR GREECE OR ANY OTHER COUNTRY TO LEAVE THE EMU

[11:48] {Threei}  - notes there is flexibility in the EMU stability pact to exceed the 3% deficit limit.

[11:48] {Threei}  no?

[11:48] {Threei}  once you are in, you are in forever?

[11:57] {Threei}  anyone's awake still?

[11:57] {nemo} yeah

[11:57] {Threei}  or let's bag out astounding morning profits and go enjoy weekend?

[11:57] {Threei}  out = our

[11:59] {Threei} Long Setup:  PALM  8 break

[11:59] {Threei}  stop under 7.90 for scalpers, under 7.80 for day trade

[12:01] {Threei}  hmmm... there is a stock named MAGS

[12:02] {nemo} do they make beer drinking machines?

06[12:02] * Threei slaps magoo around a bit with a large MAGS news headline

[12:02] {Threei}  ANNOUNCES THAT IT EXPECTS TO INCUR NON-CASH WRITE-OFFS AND ESTABLISH RESERVES FOR TERMINATION EXPENSES

[12:04] {vinod} in palm 8.00

[12:04] {Threei}  it didn't break yet

[12:05] {Threei}  when it's bumping on the resistance for that long, it's actual break you want to see before entering

[12:05] {vinod} 8 breaks means if it breaks 8.00?

[12:05] {Threei}  [11:59] {Threei} Long Setup: PALM 8 break

[12:05] {vinod} got it

[12:05] {Threei}  meaning, it's sets up for ther trade if breaks 8

[12:05] {Threei}  look at the chart, you'll see it testing 8 for a while

[12:06] {Threei}  break of resistance serves as a trigger for the trade

[12:07] {vinod} thanks

[12:17] {wulff} what should we talk about?

[12:17] {Threei}  flowers?

[12:17] {wulff} i have some nice orchids

[12:17] {Threei}  I don't

[12:18] {wulff} facinating

[12:18] {Threei}  CAT is trying the low

[12:18] {Threei}  if market drops sharply, could be a short

[12:18] {Threei}  let's say .10 trigger

[12:20] {Threei}  so far nearest resistance is .20, for hardcore scalpers .15

[12:24] {dino}  hmmmmmmmmmmmmmmmm

[12:26] {wulff} drys .05 long

[12:27] {wulff} stop .99

[12:31] {wulff} how about roses?

[12:32] {Threei}  couple shrubs

[12:32] {wulff} flowers grow in russia?

[12:32] {Threei}  umm... well... yes

[12:33] {wulff} snow and all...

[12:33] {nemo} snow flowers

[12:33] {Threei}  not 12 months a year...

[12:33] {wulff} well... now we're discussing

[12:34] {Threei}  cool... polar bears don't eat roses

[12:34] {Threei}  (random fact)

[12:36] {Threei}  polar bears don't eat penguins either

[12:36] {Threei}  (another random fact)

[12:36] {nemo} should I tell them about how to catch  a polar bear?

[12:36] {Threei}  them - penguins?

[12:36] {nemo} in general?

[12:38] {Threei}  TM SUSPENDING PRODUCTION AT RUSSIAN PLANT

[12:39] {Threei}  Russia is back to Lada?

[12:41] {vinod} my family used t have a car Volga

[12:42] {Threei}  yup... luxury brand

[12:43] {vint} prez on tv?

[12:44] {Threei}  not that I see

[12:45] {Threei}  I actually start experiencing withdrawal symptoms

[12:45] {vinod} going toward green on marlket?

[12:46] {Threei}  trying...

[12:49] {wulff} if drys is not moving with this pop, should I consider it no go

[12:49] {Threei}  hard to tell

[12:49] {Threei}  could be dead, could be biding its time

[12:53] {ese} Outta here for the weekend all....take care

[12:54] {Threei}  have a good one ese

[12:54] {ese} will do vad.....still nursing DRYS......we'll see what happens at the end of the day

[12:56] {nemo} RIMM creeping

[12:56] {wulff} snoozer huh?

[12:57] {vint} vad-is market volatile whole last year or just recently?

[12:57] {Threei}  this volatility is nothing vs what we had in the fall

[12:57] {Threei}  Sept - Oct were the highest I've ever seen

[12:57] {nemo} what's the vix at?

[12:58] {vint} thanks

[12:59] {wulff} was 41 yest.

[12:59] {nemo} what was it, in the 90's in the fall?

[12:59] {Threei}  80+, yeah

[12:59] {Threei}  highest ever

[12:59] {nemo} so half the volatility?

[13:00] {nemo} BAC C&H A.94?

[13:00] {Threei}  yeah

[13:00] {Threei}  right chart, wrong time

[13:00] {nemo} lunch time?

[13:01] {Threei}  yes

[13:01] {nemo} roger that

[13:02] {Threei}  why don't they come out now and sayy we are abandoning m2m

[13:02] {Threei}  we would buy 5K FAS, 5K BAC

[13:02] {Threei}  and make our monthly profit in one hour

[13:03] {_skylan8} rimm looks like breaking out here ?

[13:03] {nemo} make the year if we waited all day :) that's a lot of vodka

[13:03] {Threei}  same thing as for FAS, skylan

[13:03] {Threei}  at this time of the day more setups tend to fail than work

[13:04] {Threei}  kind of too random

[13:04] {nemo} yeah, watching that too.

[13:06] {_skylan8} ok

[13:12] {nemo} well, FAS and BAC setting up for a JB?

[13:13] {nemo} SPY also

[13:13] {Threei}  probably...

[13:13] {_skylan8} what is JB?

[13:13] {Threei}  JBE?

[13:14] {nemo} Either a Jump Base Implosion or Explosion, depending on whether you think it's going up or down...it's a chart pattern

[13:14] {nemo} see how FAS and SPY just popped?

[13:15] {Threei}  JBE = Jump-Base- Explosion setup

[13:15] {Threei}  DBI - Drop-Base-Implosion

[13:16] {nemo} oops, screwed up the acronym

[13:16] {nemo} sorry VAD

[13:16] {magoo} STT bounce vad?

[13:16] {nemo} everything just bounced

[13:17] {Threei}  STT is a bit weird

[13:17] {Threei}  not sure

[13:19] {dino} sidetracked here

[13:31] {nemo} BAC Vad, or is it teasing us?

[13:32] {Threei}  I have hard time gauging this move

[13:32] {Threei}  volume and pace are practically non-changing

[13:32] {Threei}  no feel of the direction of pressure

[13:34] {dino}  grrrrrrrrrrrr, big misses on apol, esi

[13:35] {dino} asleep at the wheel on them

[13:37] {dino} i underestimated esi, was at 98.80 in wait

[13:38] {Threei}  see this sudden drop FAS?

[13:38] {nemo} yes

[13:39] {Threei}  this is exactly kind of things that I feel can happen any second on the move like this

[13:39] {Threei}  and it keeps me on a sideline

[13:39] {nemo} landmines everywhere

[13:40] {dino} hmmm and all along i thought it was your un-athletic abilities

[13:41] {nemo} whoa, Dino

[13:41] {dino} :)

[13:43] {dino} guess i hurt his feelings

[13:43] {Threei}  you would, if I could read

[13:43] {Threei}  but, since I can't... you are safe

[13:44] {Threei}  on second thought...

[13:44] {dino} ahhhh, ty 3i-son

06[13:44] * Threei slaps dino around a bit with a large 50 lb dumbbell

06[13:45] * nemo slaps dino around a bit with a large Emily Post's "Rules of Etiquette"

[13:45] {dino} ouch!

[13:45] {dino} see those sparks fly, like steel on steel

[13:45] {Threei}  lol

[13:45] {dino} cpla stop to .78 

[13:45] {nemo} steel on lead you mean

[13:45] {vint} prez on tv- talking about economy

[13:46] {dino} ok

[13:46] {nemo} you're jokin'?

[13:46] {Threei}  no

[13:46] {Threei}  he is on

[13:46] {nemo} only first time though, must be sick

[13:46] {dino} he's like the cnbc bunch w/someone talking in his ear so he knows what to say

[13:50] {dino} out slippage both ways, ave .83, +.68

[13:50] {dino} cpla

[13:55] {dino} rimm l .49

[13:56] {nemo} ballsy ino

[13:56] {nemo} Dino

[13:57] {dino} feeling a turn, tight stop .37

[13:57] {dino} and of course, fortune favors the bold

[13:57] {nemo} funny, guys on point get shot first

[13:58] {dino} lol

[13:58] {dino} of course, the east of the saying, "darkness lies an inch ahead"

[13:59] {dino} the rest

[13:59] {nemo} And of course, "I couldn't tell if that is a light at the end of the tunnel, or an oncoming train?"

[14:01] {dino} darn v was my other choice, i choose badly

[14:01] {wulff} PALM

[14:03] {_skylan8} 3i if oil goes up $1 a barrel how much would DXO go up  approximate?

[14:03] {nemo} match it up to the various measures of crude out there?

[14:04] {Threei}  no idea skylan, sorry

[14:04] {Threei}  never tracked that

[14:04] {wulff} if oil goes up in the woods...

[14:04] {_skylan8} ok

[14:05] {Threei}  PALM

[14:05] {Threei}  HEARING RENEWED TAKEOVER CHATTER

[14:05] {Threei}  - DELL rumored as a potential bidder

[14:05] {Threei}  lol... remember we once discussed that

[14:06] {dino} msft should

[14:06] {nemo} not too long ago

[14:06] {Threei}  DELL said to be looking into entry in mobile phones,

[14:06] {Threei}  and we speculated that PALM ould be a target

[14:09] {nemo} Nice Dino my .52 bid didn't get hit

[14:09] {dino} out rimm .61, +.12

[14:10] {dino} ty nemo, lucky

[14:12] {nemo} Volume,except for DOW looks like people tiptoeing into the weekend

[14:12] {wulff} next hour will tell

[14:12] {_skylan8} 3i when you say to stop out do you use broker automatic stops or just mental stop and pull trigger yourself?

[14:12] {Threei}  yeah, activity should resume closer to eod

[14:13] {Threei}  people will start repositioining

[14:13] {Threei}  I prefer mental stops

[14:13] {Threei}  they require discipline

[14:13] {Threei}  but if that is not an issue, they have a lot of advantages over hardwired ones

[14:15] {_skylan8} i use mbtrading and automatic stops but can marketmakers see where my stops are?

[14:15] {dino} fwiw i prefer auto stops on naz

[14:15] {Threei}  that's not an issue at all skylan

[14:16] {dino} on naz no

[14:16] {Threei}  unless you trade hundrerds of thoudands of shares, who cares

[14:16] {Threei}  if you trade 1-2-5K shares, no one is going to run around looking for your stop placement

[14:16] {_skylan8} ok thnks

[14:17] {Threei}  it can feel sometimes as if they were looking for your specific stop location, as stock reverses right after taking you out

[14:17] {dino} nemo, v nice range

[14:17] {Threei}  but it's more related to most placing their stops in the same places

[14:18] {Threei}  and no, marketmakers can't see it

[14:18] {nemo} ascending Dino, but these dumps...look at RIMM

[14:18] {Threei}  your broker can IF the stop is serevr-sided, not client-sided, and IF he cares at all

[14:18] {wulff} I actually have laser eyesight

[14:19] {Threei}  which, being am agency, he doesn't

[14:19] {Threei}  if he acts as principal, he may

[14:19] {nemo} what wulff...I had laser surgery

[14:19] {Threei}  but direct access brokers don't do that as a rule

[14:20] {nemo} damn Dino, whish I had seen that double top, then I could have called it and not taken it :)

[14:20] {dino} i'm a bottom buyer in bears

[14:20] {nemo} oooohhhhh....how alliterative

[14:21] {dino} lasik, me too

[14:21] {nemo} prefer not to do it again, but went from holding the alarm clock up to my face to 20-13...now, my arms aren't long enough

[14:22] {nemo} http://www.thestockmasters.com/cramer-fired-2006-video-03132009.html

[14:22] {dino} 20-15. alto age setting in

[14:23] {_skylan8} RIMM dropping  fast

[14:23] {vint} for mental stop, what is advisable to pull the trigger when it hits exact stop price or we can be flexible few cents? many times I see price touching mental stop and turning in favor

[14:23] {dino} will rimm hold lod

[14:23] {dptl} have a good weekend all

[14:23] {dino} cya dp have fun

[14:26] {Threei}  take care dp

[14:26] {Threei}  skylan, that depends on how your stock arrived there

[14:26] {fernp} by dp

[14:27] {fernp} bye

[14:27] {Threei}  if it dipped fast and paused, it's often bouncing back right away

[14:27] {Threei}  so in such cases I tend to wait a little

[14:27] {Threei}  and sell if selling resumes

[14:27] {Threei}  but if your stock slid gradually into stop level and brokeit, get out right away

[14:28] {Threei}  oops, sorry, that was for vint

[14:28] {vint} got,that has been my struggle

[14:28] {vint} thanks

[14:28] {_skylan8} if RIMM breaks low of day should we go short or how low before shorting?

[14:29] {Threei}  RIMM is mostly a market follower

[14:29] {Threei}  your best bet on it is a situation when it stalls right above the support,

[14:29] {wulff} you like PALM here vad?

[14:29] {Threei}  and market breaks down sharply

[14:29] {_skylan8} good point on how it got there 

[14:29] {Threei}  If you manage to catch that little delay that follower often gives, that's the best short entry

[14:30] {Threei}  PALM, not sure...

[14:30] {Threei}  it has slight upward bias but not so compelling that I would be eager to jump in

[14:31] {dino} f'ing cyber, 143 of 1000 at .25 rimm. thx chuck

[14:31] {dino} i'd be out already

[14:31] {nemo} you got chucked

[14:32] {dino} roflol

[14:34] {vinod} i thing fas is strong again

[14:35] {dino} v hk l .47

[14:35] {wulff} hypothetical PALM 1:1

[14:36] {dino} rimm stop to .49

[14:36] {dino} out rimm 

[14:36] {dino} +.24

[14:38] {fernp} gj dino w/your 143 shares

[14:38] {dino} case of beer, (ch)uck job

[14:38] {nemo} awwwwww fern!!!!!!

[14:38] {Threei}  lol

[14:38] {dino} the plan was correct

[14:46] {nemo} dino dcc please

[14:47] {wulff} PALM!! ouch

[14:47] {nemo} get spanked wulff?

[14:47] {Threei}  looks like reacts on market mostly now

[14:48] {wulff} was going to trade..but stayed out

[14:49] {dino} nemo, i'm there

[14:49] {Threei}  ok... let's assume this little pullback is a launching pad the the next leg up

[14:49] {Threei}  if so, FAS .10 break for a scalp

[14:51] {vinod} means any price under .10 ?

[14:52] {Threei}  no... breakout of .10

[14:52] {Threei}  as a trigger for entry

[14:52] {vinod} o.k I awill get ther may take some time

[14:53] {Threei}  if loses 5, ceases to be a breakout play and turns into bounce

[14:53] {vinod} i am taking this note

[14:53] {Threei}  and, if market spikes up from here, grab FAS aggressively right here

[14:55] {Threei}  nothing is clear yet... meaningless noise

[14:55] {Threei}  a few cents up, a few cents down

[14:56] {vinod} will i get all book soon

[14:56] {Threei}  feels like up is the most likely direction

[14:56] {Threei}  but it's like 51/49

[14:57] {dino} out v .71, +.24

[15:04] {dino} amed

[15:05] {fernp} have a nice weekend all. see you all on monday.

[15:05] {Threei}  have a good one fwern

[15:11] {dino} later fernp

[15:12] {nemo} bets on market today?

[15:12] {wulff} +70 +15

[15:13] {wulff} or -70 -15

[15:13] {nemo} definite maybe, huh pal

[15:16] {Threei}  still feels like up to me

[15:18] {cosmo} holx

[15:19] {cosmo} may test

[15:20] {patience} short covering rally...just a pause before down again imo

[15:20] {Threei}  FAS if dives under .10, looking for entry

[15:21] {Threei}  BAC nice buying pressure

[15:30] {dino} iwov

[15:33] {Threei}  C

[15:33] {Threei}  REPORTEDLY OFFERING SOME NEW HIRES IN LONDON GUARANTEED BONUSES OF $2-3M

[15:34] {dino} waiting sm .20

[15:34] {dino} iwov

[15:35] {nemo} nice work if you can get it, huh Vad?

[15:35] {Threei}  I am not moving to London

[15:35] {nemo} rains more than there?

[15:36] {Threei}  I can't understand British accent

[15:36] {i2romantis} lol

[15:36] {nemo} I used to have that problem with Russian accents

[15:36] {wulff} good call on the .10 bounce, did not take it though FAS

[15:36] {cosmo} they can't speak english correctly?

[15:37] {vinod} have a nice weekend to all

[15:37] {Threei}  have a good one vinod

[15:37] {dino} cya vinod

[15:40] {Threei}  IWOV

[15:40] {Threei}  STOCK SLIPS AFTER RELEASE OF ITS 10-K: WEAKNESS APPEARS TO BE A REACTION TO STANDARD 'RISK FACTOR' STATEMENT

[15:40] {Threei}  - "On January 22, 2009, we entered into a definitive agreement to be acquired by Autonomy Corporation plc in an all-cash transaction. Pursuant to the definitive agreement and subject to the terms and conditions set forth therein, Interwoven will be merged with and into a newly formed, wholly-owned subsidiary of Autonomy, with Interwoven surviving the merger as a wholly-owned subsidiary of Autonomy. Our announcement of our proposed transaction with Autonomy could cause a material disruption to our business."

[15:41] {dino} ty

[15:41] {Threei}  I don't get it

[15:41] {dino} circle talk

[15:41] {Threei}  buyout is set, all cash

[15:41] {Threei}  what difference does it make what happens to their business

[15:42] {cosmo} they dont want to loose autonomy

[15:43] {Threei}  don't tell pun was not intended

[15:43] {dino} sm l v .25 stop lod

[15:43] {cosmo} it was  ... hehe ....sorry...

[15:43] {Threei}  :)

[15:46] {Threei}  whole second half of the day was mostly out of my read

[15:46] {Threei}  and today's volume is, ummm

[15:47] {Threei}  would the spelling "redeekoolus" be right?

[15:47] {nemo} redikulus?

[15:47] {Threei}  that's it, thank you

[15:47] {nemo} de nada

[15:47] {dino} stopped v -.28

[15:48] {Threei}  seriously, on NQ volume is 1/3 of yesterdays and 10%(!) of Wed

[15:48] {Threei}  FHFA'S LOCKHART: CURRENT MORTGAGE MODIFICATION BILL COULD HARM FNM AND FRE, SHOULD BE ADJUSTED

[15:48] {Threei}  HARM FNM AND FRE???

[15:49] {Threei}  they can be harmed any more ijn any regard than they have been already??

[15:49] {nemo} could be rediqlus

[15:49] {Threei}  dawg... let's say it together

[15:50] {Threei}  they trade under 50 cents with 2-3 cents range, for CHRISSSSAKE

[15:50] {nemo} not talking about stock...alll the bureaucrat jobs

[15:50] {dawg} yeah boss

[15:51] {Threei}  I'll leave Lockhart to worry about those jobs

[15:51] {dino} iwov .55 l

[15:52] {Threei}  how about someone starts worrying about jobs lost because of the union card bill? or prices skyrocleting because of cap-andf-trade?

[15:53] {nemo} or OPEC squeezing supply

[15:53] {dino} out .67 +.12

[15:54] {dino} v major rinse

[15:56] {dino} v l .05 

[15:57] {Threei}  can anyone with different source verify the volume numbers?

[15:57] {Threei}  seem so out of whack

[15:58] {nemo} Just looking at FINVIZ DOW 150%  NAS 97%  S&P 110% of average

[15:58] {Threei}  ah, OK{ I see where the problem is

[15:59] {Threei}  I watch futures, and there is a rollower day soon

[15:59] {Threei}  I always forget about that

[15:59] {Threei}  so volume dries up on maturing contract

[15:59] {dino} out v .17, +.12

[16:00] {Threei}  just swithced to new one, volume is much better

[16:00] {Threei}  okay guys, beautiful end of the week

[16:00] {Threei}  even with inactive seond half of the day

[16:00] {Threei}  thank you sll, have a great weekend

[16:00] {Threei}  see you on Monday

[16:00] {dawg} thanks Vad and all

[16:01] {dino} thx all best week of year

[16:01] {wulff} ditto

[16:01] {Threei}  great to hear :)

[16:01] {nemo} Peace & QUiet

[16:01] {dino} gj wuff

[16:04] {vint} Thanks Vad, bye all

Mar 12 2009

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

 

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

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

[08:02] {Threei}  good morning

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

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

[08:02] {Threei}  thank you :)

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

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

[08:04] {nemo} FAS already moving 

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

[08:19] {KSystems} hi :)

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

[08:21] {Threei}  ks :)

[08:22] {magoo} morning

[08:22] {Threei}  magoo :)

[08:22] {nemo} hi mags

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

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

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

[08:24] {Threei}  even less

[08:25] {Threei}  4 or 5

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

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

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

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

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

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

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

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

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

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

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

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

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

[08:31] {nemo} increases?

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

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

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

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

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

[08:42] {Threei}  what else is there

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

[08:42] {nemo} No argument here

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

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

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

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

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

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

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

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

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

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

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

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

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

[08:49] {pita} gm all

[08:49] {Threei}  not you magoo

[08:49] {Threei}  pita :)

[08:57] {Threei}  morning cosmo

[08:58] {cosmo} still?

[08:58] {Threei}  yes

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

[08:58] {cosmo} checking

[08:58] {cosmo} oh

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

[08:58] {cosmo} gotcha

[08:58] {Onix} Good morning al

[08:58] {cosmo} sigh

[08:58] {Threei}  onix :)

[08:58] {Threei}  FAS in back to flat

[08:59] {_paliyad2009} goodMorning

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

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

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

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

[08:59] {Threei}  palliyad :)

[08:59] {Threei}  awww

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

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

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

[08:59] {nemo} Vad evil

[08:59] {nemo} Darth Vad

[08:59] {Threei}  I do too

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

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

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

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

[09:00] {nemo} FAS closed gap

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

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

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

[09:04] {cosmo} it warned

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

[09:04] {nemo} hi vinod

[09:04] {Threei}  same password?

[09:05] {_paliyad2009} yes

[09:05] {_paliyad2009} hi nemo

[09:06] {dptl} good morning

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

[09:07] {Threei}  dp :)

[09:12] {Threei}  GE

[09:12] {Threei}  CUT AT SP

[09:13] {dino} gm all

[09:13] {Threei}  dino :)

[09:13] {nemo} dino :)

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

[09:17] {dino} :)

[09:17] {Onix} ge gets cut 

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

[09:18] {Threei}  and goes up eh?

[09:19] {Threei}  GE

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

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

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

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

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

[09:23] {Threei}  not in the market

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

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

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

[09:24] {pita} yes

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

[09:24] {dino} gild blood

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

[09:24] {Threei}  be back in 5

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

[09:28] {KSystems} vinod

[09:28] {KSystems} not vino

[09:28] {Threei}  right

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

[09:29] {dino} not dino

[09:29] {Threei}  O=OK

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

[09:29] {_paliyad2009} o.k

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

[09:29] {pita} watching?

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

[09:30] {Threei}  GE

[09:30] {Threei}  WFC

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

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

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

[09:32] {nemo} oops

[09:32] {Threei}  over 1:1

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

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

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

[09:34] {vint} good morning everyone

[09:34] {Threei}  vint

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

[09:34] {magoo} TY

[09:34] {Threei}  welcome

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

[09:35] {Threei}  ese :)

[09:36] {Threei}  RIMM

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

[09:37] {ese} STLD dino

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

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

[09:39] {dino} ..

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

[09:39] {dino} pfe may go

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

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

[09:41] {dino} gild too

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

[09:42] {nemo} in

[09:42] {Threei}  stop under 21.90

[09:43] {Threei}  STT no go

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

[09:45] {ese} too funny

[09:46] {fernp} Hello everybody

[09:46] {Threei}  fern :)

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

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

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

[09:47] {dino} chtt dump

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

[09:48] {Threei}  STT shakeout

[09:49] {magoo} normal:)

[09:49] {magoo} wfc strong

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

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

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

[09:50] {Threei}  good job vinod

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

[09:51] {Threei}  comes with practice

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

[09:51] {Threei}  no pullback WFC

[09:52] {magoo} animal

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

[09:52] {Threei}  come on already GE

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

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

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

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

[09:53] {ese} +.24

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

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

[09:53] {Threei}  hard to tell

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

[09:53] {Onix} gj ese

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

[09:54] {Threei}  want .50 - .60 zone

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

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

[09:55] {nemo} yep

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

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

[09:55] {vinod} ge in 8.48

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

[09:56] {Threei}  so far so good

[09:56] {nemo} let it run

[09:56] {Threei}  over 1:1, half out

[09:57] {Threei}  STT, I hate you

[09:57] {ese} tks onx

[09:57] {magoo} i hate WFC

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

[09:58] {Threei}  wtg, take care

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

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

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

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

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

[10:00] {geo} good morning

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

[10:00] {Threei}  geo :)

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

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

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

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

[10:02] {Threei}  welcome sir

[10:02] {nemo} out ge ty

[10:02] {Threei}  :)

[10:02] {Threei}  1:3

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

[10:03] {nemo} yeah

[10:03] {Threei}  get out in full

[10:03] {Threei}  or

[10:03] {Threei}  trail stop

[10:03] {Threei}  and let it trade

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

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

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

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

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

[10:06] {Threei}  FAS is tempting

[10:06] {ese} very

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

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

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

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

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

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

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

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

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

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

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

[10:11] {Threei}  who is counting...

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

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

[10:12] {magoo} lol

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

[10:13] {magoo} he is consistant

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

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

[10:15] {Threei}  GE

[10:15] {Threei}  50 cents

[10:15] {Threei}  out in full

[10:16] {Threei}  60, sorry

[10:16] {Threei}  enough is enough

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

[10:16] {magoo} ahhhhh

[10:17] {magoo} server vad?

[10:17] {Threei}  13

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

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

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

[10:18] {ese} 9 today

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

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

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

[10:23] {dino} chtt

[10:23] {geo} MT vad?

[10:24] {Threei}  not sure

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

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

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

[10:25] {Threei}  no really?

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

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

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

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

[10:26] {geo} TYC nice

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

[10:27] {nemo} Oh jeezus

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

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

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

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

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

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

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

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

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

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

[10:31] {magoo} me

[10:31] {magoo} q

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

[10:31] {elepet} good morning

[10:31] {geo} magoo focussed

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

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

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

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

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

[10:32] {Threei}  elepet :)

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

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

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

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

[10:37] {dino} yes

[10:37] {dino} hmmmm

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

[10:38] {nemo} can't tell yet 

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

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

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

[10:39] {Threei}  don't mags

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

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

[10:42] {Threei}  looks determined

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

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

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

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

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

[10:46] {Threei}  90 cents

[10:46] {Threei}  got 60 of them

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

[10:46] {Threei}  oh

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

[10:47] {Threei}  no

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

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

[10:52] {dino} give him time

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

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

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

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

[10:56] {dino} nice pick tho

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

[10:56] {dino} lol

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

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

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

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

[10:58] {Threei}  yup

[10:58] {Threei}  and not only they

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

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

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

[10:59] {dino} then say it

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

[11:00] {dino} lol

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

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

[11:01] {geo} i agree

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

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

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

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

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

[11:01] {Threei}  if stays under .50

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

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

[11:02] {geo} e

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

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

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

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

[11:03] {Threei}  and breaking supports

[11:03] {fernp} in GE

[11:03] {magoo} yup

[11:03] {magoo} in

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

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

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

[11:04] {dino} no disrespect intended

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

[11:04] {magoo} agree

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

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

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

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

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

[11:06] {Threei}  I'd high five him

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

[11:06] {Threei}  I will partial out

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

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

[11:07] {Threei}  1:1 is coming

[11:07] {fernp} out here ty

[11:07] {Threei}  welcome

[11:07] {Threei}  covered half

[11:07] {dino} gj

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

[11:08] {Threei}  yes, it's fair

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

[11:11] {Threei}  hey!!!

[11:11] {Threei}  guess what

[11:11] {nemo} prez

[11:11] {Threei}  guessed, no?

[11:11] {pita} its the pres

[11:11] {Threei}  yup

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

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

[11:12] {dino} looks stoned

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

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

[11:13] {Threei}  if that's a word

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

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

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

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

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

[11:16] {nemo} stopped GE

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

[11:16] {Threei}  hmm?

[11:16] {Threei}  nemo... just now?

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

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

[11:17] {Threei}  stop moved to .42

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

[11:17] {Threei}  so what

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

[11:17] {nemo} yep stupid

[11:18] {Threei}  it's a routine

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

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

[11:18] {Threei}  GM

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

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

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

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

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

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

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

[11:20] {Threei}  good idea

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

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

[11:21] {Threei}  no

[11:21] {nemo} GE again vad

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

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

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

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

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

[11:31] {dino} spiked

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

[11:33] {Threei}  tiny stop

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

[11:37] {nemo} hehehehehe

[11:38] {Threei}  we will be here ese

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

[11:38] {Threei}  I promise

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

[11:39] {Threei}  WFC nice selling

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

[11:39] {nemo} market strength too

[11:39] {Threei}  not very convincing

[11:39] {Threei}  volume is lame

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

[11:39] {Threei}  yeah

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

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

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

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

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

[11:47] {dino} maybe so

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

[11:47] {dino} chtt flush

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

[11:49] {Threei}  argh, late

[11:49] {Threei}  ok, it's back

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

[11:50] {Threei}  if stays above .85

[11:50] {Threei}  and

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

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

[11:52] {Threei}  RIMM 1:1, half out

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

[11:52] {Threei}  stop to .95

[11:53] {fernp} in WFC

[11:54] {Threei}  almost hit 1:2 RIMM

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

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

[11:54] {nemo} hehehehehe

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

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

[11:55] {dino} hmmmm, sarcasm

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

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

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

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

[11:58] {Threei}  WFC is tired

[11:58] {fernp} stopped WFC

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

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

[12:01] {dino} to .75

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

[12:02] {dino} to .90

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

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

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

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

[12:04] {Threei}  WFC shaleout...

[12:04] {_skylan8} thnks

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

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

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

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

[12:08] {dino} who knows

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

[12:20] {fernp} BAC breaking hod

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

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

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

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

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

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

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

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

[12:27] {nemo} 2nite

[12:27] {Threei}  or it was a rumor?

[12:27] {Threei}  ah, ok

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

[12:27] {magoo} who is stewart? 

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

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

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

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

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

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

[12:29] {magoo} no

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

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

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

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

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

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

[12:41] {magoo} TOO FUNNY VAD

[12:43] {pita} later everyone

[12:43] {Threei}  take care pita

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

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

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

[12:45] {nemo} RiMM GE 

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

[12:45] {nemo} BAC

[12:45] {nemo} well  FAZ is down :)

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

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

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

[12:56] {Threei}  FAS new high

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

[12:57] {magoo} USO spikarollla

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

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

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

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

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

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

[13:01] {dino} lol;

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

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

[13:05] {Threei}  FAS you mean?

[13:05] {_skylan8} yes

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

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

[13:06] {Threei}  and moves slowly

[13:06] {_skylan8} ok

[13:07] {Threei}  BAC new high

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

[13:09] {magoo} teleportation

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

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

[13:10] {Threei}  pulls back,

[13:10] {Threei}  shakes you out

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

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

[13:11] {Threei}  dance

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

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

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

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

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

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

[13:16] {Threei}  like pulling tooth

[13:17] {_skylan8} yes

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

[13:18] {Threei}  oh, I know

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

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

[13:18] {Threei}  yep

[13:19] {Threei}  GE goes for 10?

[13:23] {Threei}  LOL

[13:23] {Threei}  HD

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

[13:23] {Threei}  translation:

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

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

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

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

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

[13:28] {Threei}  why not

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

[13:29] {Threei}  yessss!!!!

[13:29] {Threei}  gues what!

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

[13:29] {nemo} no?

[13:29] {Threei}  yup

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

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

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

[13:37] {Threei}  here comes GS

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

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

[13:38] {Threei}  new high FAS

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

[13:39] {vinod} faz

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

[13:40] {magoo} from u vad

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

[13:40] {Threei}  what can I say mags

[13:40] {Threei}  you are a predator

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

[13:41] {Threei}  .50 broken

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

[13:41] {Threei}  FAS new high

[13:41] {Threei}  next should be BAC

[13:41] {Threei}  you are at 1:2 nemo

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

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

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

[13:44] {nemo} true

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

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

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

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

[13:45] {nemo} GS pulling back

[13:45] {Threei}  also, keep in mind,

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

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

[13:53] {Threei}  new high FAS

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

[13:54] {Threei}  FAS 1:3

[13:54] {Threei}  BAC

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

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

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

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

[13:57] {Threei}  lol, yes dino

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

[13:57] {magoo} ty outtta here

[13:57] {Threei}  :)

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

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

[14:08] {Threei}  FAZ is a widowmaker

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

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

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

[14:12] {wulff} FAS to FAZ

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

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

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

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

[14:26] {dino}  rats to cheese

[14:26] {nemo} bees to honey

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

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

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

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

[14:28] {dino} lol

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

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

[14:29] {Threei}  lol

[14:29] {Threei}  that would be dptl

[14:29] {nemo} and me

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

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

[14:30] {Threei}  on a sideline now

[14:30] {nemo} ahhh

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

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

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

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

[14:36] {nemo} Vad?

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

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

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

[14:39] {Threei}  nope

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

[14:42] {dino} close positive?

[14:42] {Threei}  lol... yes

[14:43] {dino} :)

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

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

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

[14:46] {Threei}  yeah

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

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

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

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

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

[14:52] {Threei}  whew

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

[14:53] {Threei}  ty

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

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

[14:54] {nemo} why?

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

[14:54] {Threei}  watch FAS here

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

[14:55] {nemo} full lot

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

[14:55] {Threei}  yeah

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

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

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

[14:57] {magoo} spy over 75

[14:58] {nemo} bummer

[15:00] {nemo} orderly descent

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

[15:01] {Threei}  likely to go lower

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

[15:01] {Threei}  ?

[15:01] {Threei}  what about it?

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

[15:02] {nemo} compared to offer

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

[15:02] {nemo} o.k

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

[15:03] {nemo} yes

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

[15:03] {nemo} get

[15:04] {Threei}  resistance?

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

[15:04] {Threei}  why is it heavy?

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

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

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

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

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

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

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

[15:14] {nemo} not 4 yet

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

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

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

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

[15:16] {Threei}  who'll guess?

[15:16] {nemo} Oh oh

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

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

[15:16] {Threei}  from?

[15:16] {Threei}  no nemo

[15:16] {i2romantis} fas

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

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

[15:16] {Threei}  good one i2r

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

[15:17] {Threei}  now you got it nemo

[15:17] {i2romantis} thx

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

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

[15:17] {i2romantis} done, wow

[15:17] {Threei}  5

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

[15:18] {Threei}  lol

[15:28] {Threei}  STT tough fight

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

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

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

[15:30] {i2romantis} nice call

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

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

[15:31] {Threei}  there you go

[15:31] {Threei}  easy 25 cents

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

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

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

[15:37] {Threei}  .66?

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

[15:37] {magoo} yea

[15:37] {magoo} yup just confirmed

[15:37] {Threei}  must have missed

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

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

[15:38] {Threei}  lol

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

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

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

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

[15:41] {wulff} yup

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

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

[15:41] {wulff} ok

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

[15:44] {Threei}  all three of them

[15:45] {Threei}  +235

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

[15:45] {Threei}  nice to see

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

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

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

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

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

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

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

[15:48] {Threei}  we can only guess

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

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

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

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

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

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

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

[15:49] {i2romantis} lol

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

[15:49] {dino} tap to flat

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

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

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

[15:50] {Threei}  lol

[15:50] {Threei}  no wulff

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

[15:50] {patience} nope

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

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

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

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

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

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

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

[15:52] {Threei}  things change fast

[15:52] {wulff} My chair swivels

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

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

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

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

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

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

[15:56] {magoo} NICE

[15:56] {dino} out tap

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

[15:56] {Threei}  take care fern

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

[15:58] {Threei}  okay guys

[15:59] {Threei}  fairly nice day

[15:59] {Threei}  thank you all

[15:59] {magoo} ty vad

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

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

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

[16:00] {dino} apei

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