Apr 03 2009

Somewhat strange day. Most stocks acted against normal patterns and brought nothing but stops, while momentum mover DNDN obeyed like clockwork - all calls on it were right on target, both long and short.

Session Time: Fri Apr 03 00:00:00 2009

[08:15] {Threei}  BALTIC DRY BULK INDEX -2.1% (18TH STRAIGHT DECLINE)

[08:16] {nemo} RIMM keeps going

[08:23] {Threei}  keeping an eye on LVS

[08:27] {magoo} moprning

[08:27] {nemo} morn mags

[08:28] {Threei}  magoo :)

[08:30] {Threei}  MAR UNEMPLOYMENT RATE: 8.5% V 8.5%E

[08:30] {nemo} coincided wit FAS popping

[08:30] {Threei}  *MAR CHANGE IN NONFARM PAYROLL: -663K V -660KE; CHANGE IN MANUFACTURING PAYROLLS: -161K V -162KE

[08:30] {Threei}  *MAR AVERAGE HOURLY EARNINGS M/M: 0.2% V 0.2%E; AVERAGE WEEKLY EARNINGS: 33.2 V 33.3E

[08:32] {magoo} in line..they street was expecting worse

[08:36] {cosmo} always

[08:36] {nemo} RIMM just keeps going

[08:38] {patience} good morning RT, it is only Wednesday for those who went to the Bahamas, 2 more days of work for them

[08:40] {Threei}  Good morning, lol

[08:41] {cosmo} GILD: # Gilead says blood pressure drug met trial goalsAP(Fri 7:15am)

[08:41] {magoo} vad..easy ? here...wheres support to go long RIMM?

[08:41] {Threei}  lol

[08:41] {Threei}  at 35

[08:41] {magoo} TY :)

[08:41] {Threei}  sure :)

[08:44] {vinod} GM to all:)

[08:44] {nemo} you buyin' GM vinod?

[08:44] {pita} gm everyone

[08:45] {cosmo} we all own GM

[08:45] {Threei}  vinod, pita :)

[08:45] {nemo} another one  :)

[08:45] {vinod} Nothng buying but have 500 SRS from yesterday at 46.00

[08:48] {vinod} when you have some time lke your opinion about GLW-vad have 4000 in my IRA at $2..00 brought long ago

[08:50] {Threei}  at 2?

[08:51] {Threei}  I don't see it being at 2 ever

[08:51] {vinod} yes. my wife used to work there low was at 1.00

[08:51] {Threei}  wow

[08:51] {vinod} she got laid off in 2001

[08:51] {Threei}  I see

[08:51] {Threei}  well, this is way too long term for me... sorry, I don't have much to say about it

[08:52] {Threei}  I'd be out in, umm... 2005? :)

[08:52] {vinod} i have many stock in my IRA since 2000

[08:53] {vinod} will discuss later on off line

[08:54] {Threei}  honestly, this kind of investements is not my cup of tea...

[08:55] {magoo} vad..wheres RIMM short?

[08:55] {magoo} seriously?

[08:55] {magoo} will it give back 5 points?

[08:56] {Threei}  shrug

[08:59] {cosmo} HOLX?

[09:00] {Threei}  no fresh news

[09:00] {cosmo} k

[09:01] {cosmo} hmmm

[09:06] {larisa} good morning :)

[09:06] {Threei}  larisa :)

[09:06] {larisa} threei :)

[09:08] {Threei}  (US) FED'S KOHN: "WE'RE NOT OUT OF THE WOODS YET," BELIEVES FED MAY NEED TO DO MORE TO INCREASE THE FLOW OF CREDIT

[09:08] {Threei}  - The US economy is very weak, will likely remain that way "for a while."

[09:08] {Threei}  - Sees a risk of rising real fed funds rate, deflationary spiral

[09:08] {Threei}  - There is "incredibly large" unused capacity in the US economy.

[09:10] {fernp} Hello everybody

[09:10] {Threei}  fern :)

[09:16] {ese} morning

[09:16] {Threei}  ese :)

[09:16] {ese} morning vad

[09:17] {ese} any sense of the mrket yet....up, dn ?

[09:17] {Threei}  not really

[09:17] {Threei}  was up slightly, now down slightly

[09:21] {nemo} jnpr hanging their from yesterday, could be a short candidate

[09:23] {ese} have been re reading "how to scalp any market"...have a question for you....a couple of the scalp examples were for 3000 buy at .50 sell .54 etc...do you prefer those round numbers .50 and .00...because institutions focus on them

[09:24] {ese} they tend to provide significant resistant points

[09:24] {Threei}  well, most of support/resistance levels to break and trigger the trade happen to be around those

[09:24] {ese} so they are most likely to breakout a little harder?

[09:24] {Threei}  it's not often that we see alerts like "12.23 break long"... ratjer 12.20 or 12.25

[09:25] {ese} yes

[09:25] {Threei}  stocks naturally tend to foop or bottom out at those nombers rather than at .03 or .07

[09:25] {Threei}  to top

[09:26] {ese} institutional thing??

[09:26] {Threei}  nah

[09:26] {Threei}  just the weay we think

[09:26] {Threei}  way

[09:26] {Threei}  we don't assign targets for our exits at 25.63

[09:27] {Threei}  25.50 - we do

[09:27] {ese} yes

[09:27] {Threei}  so those supports and resistances get formed where we decide to exit or enter

[09:28] {dptl} good morning all

[09:28] {Threei}  dp :)

[09:29] {ese} have had the best trading 2 weeks of my life thanks to that book....have just had the courage to go with 2000/3000 shs lots and it really is safer

[09:29] {Threei}  I am really happy to hear that

[09:30] {ese} although...I cannot tell a lie i've been swing trading FITB

[09:30] {i2romantis} yes we saw that, and FITB worked out well this week

[09:30] {i2romantis} which book are you referring to, ese?

[09:32] {magoo} good dump RIMM vad

[09:32] {Threei}  [09:23] {ese} have been re reading "how to scalp any market"..

[09:32] {Threei}  need it to form something, mags

[09:32] {ese} "How To Scalp any Market ^ Profit Consistently"...vads book

[09:32] {Threei}  it's too removed from all normal points of reference

[09:33] {Threei}  without it forming new ones, it's just a crapshoot

[09:34] {ese} looking for EBAY on pullback

[09:34] {Threei} Long Setup:  FAZ  .10 break if stays above 17.95

[09:35] {Threei}  invalidated

[09:35] {Threei}  LVS... waiting for pullback and not getting it

[09:37] {i2romantis} nice DRYS move

[09:37] {ese} same with Ebay

[09:37] {ese} opps now getting it

[09:38] {Threei} Long Setup:  JNPR  17 break

[09:38] {Threei}  fro scalpers stop under .90, for day traders under .80

[09:38] {ese} Long ebay .31

[09:38] {magoo} in

[09:39] {ese} out ebay .43 +.12

[09:39] {larisa} whats with PLD

[09:39] {Threei}  no news

[09:40] {Threei}  US) WHITE HOUSE'S ROMER: THERE IS NO QUESTION THE ECONOMY IS STILL SICK, STRONG ACTION STILL NEEDED

[09:40] {Threei}  - Obama Administration policies are just starting to work, fiscal policy has a three to six month lag.

[09:40] {Threei}  US DEPT OF LABOR'S SOLIS: UNCLEAR WHEN US WILL SEE A 'TANGIBLE' IMPROVEMENT IN JOBS - CNBC

[09:40] {Threei}  hmm?

[09:41] {Threei}  starting to work - may not see improvement in jobs?

[09:41] {Threei}  I am yet to understand how that reconciles

[09:41] {cosmo} ...wit productivity

[09:41] {cosmo} with

[09:42] {dptl} in jnpr .00

[09:43] {nemo} in 

[09:44] {Threei}  RIMM

[09:44] {Threei}  pullback into .40 - .50 zone for long entry

[09:44] {Threei}  fast fingers only

[09:44] {nemo} not me then

[09:45] {magoo} pre mkt highs 63 area

[09:46] {Threei}  if you caught it, start exiting here

[09:46] {magoo} in

[09:50] {ese} L AMAT pullback .60

[09:51] {nemo} jnpr holding in nas weakness

[09:51] {Threei}  salmon

[09:51] {nemo} strong current though

[09:55] {Threei}  CBST

[09:55] {Threei}  no news...

[09:59] {Threei}  CBST drop into .40 - .50 for entry, half lot

[10:00] {Threei}  MAR ISM NON-MANUFACTURING COMPOSITE: 40.8 V 42.0E

[10:00] {dptl} stopped jnpr

[10:00] {Threei}  yeah, lost will to live

[10:01] {nemo} stopped

[10:02] {Threei}  CEDC, pullback into 14 for long entry

[10:03] {ese} out AMAT -.50 -.10

[10:04] {Threei}  nice juicy offer at .10

[10:04] {Threei}  gives us an idea for entry

[10:06] {dptl} where would be stop for cedc?

[10:07] {Threei}  under what it forms as support on this pullback

[10:07] {Threei}  LVS

[10:07] {Threei}  .66 long

[10:07] {Threei}  if holding above .55

[10:08] {nemo} cbst setting up a short vad?

[10:08] {Threei}  not suree

[10:08] {Threei}  I'd prefer long

[10:08] {nemo} big jump yesterday 

[10:09] {Threei}  everything did big jump yesterday...

[10:09] {nemo} yeah

[10:09] {Threei}  unless you set to short market today, hat's npt the reason to short any given stock :)

[10:10] {nemo} no I'm looking at the chart on LASER

[10:13] {Threei}  LVS setup changes

[10:13] {Threei}  .56 if holding above .50

[10:14] {nemo} in lvs

[10:16] {dptl} in.58

[10:17] {Threei}  not much enthusiasm...

[10:18] {Threei}  come on LVS, enough games

[10:23] {Threei}  no worky

[10:23] {dptl} stopped

[10:25] {fernp} long BAC if break .33, Vad?

[10:26] {Threei}  not sure...

[10:26] {Threei}  way too narrow today

[10:26] {Threei}  would require serious market move to give anything worthy

[10:26] {Threei}  and things fdon't seem too hot today so far

[10:26] {Threei}  ratjer like market taking a breather

[10:27] {fernp} ok thanks

[10:27] {Threei} Long Setup:  RIMM  59 break

[10:27] {Threei}  if holding above 58.80

[10:28] {dptl} in

[10:28] {magoo} in

[10:30] {nemo} in

[10:32] {dptl} ahhhh...stopped

[10:32] {nemo} stopped

[10:32] {Threei}  sidways action... not much works so far

[10:35] {nemo} jnpr building a range if we ever see strength

[10:37] {dptl} gild? short?

[10:38] {Threei}  on .50 break?

[10:38] {Threei}  could be

[10:38] {dptl} ye

[10:40] {ese} maybe   I should tell you I'm swing trading again......I know I know...it's blasphemy  but I'm Long FITB at .97...10000shs

[10:44] {ese} out .09  fitb

[10:44] {Threei}  wtg

[10:44] {ese} +.12

[10:44] {ese} tks

[10:44] {Threei}  not sure why you call it swing trading... sounds like typical scalp type I to me

[10:45] {Threei}  GILD over 1:1

[10:45] {dptl} so fast didn't get it

[10:45] {ese} bought it at the open.......holding it too long...

[10:45] {dptl} try on pulol back may be?

[10:46] {Threei}  if bounces into resistance, sure

[10:49] {dptl} ok in .48

[10:50] {dptl} stop over .60?

[10:50] {Threei}  yeah

[10:50] {dptl} ok ty

[10:53] {Threei}  sigh

[10:53] {dptl} stopped

[10:53] {Threei}  no rythm to anything

[11:01] {magoo} anyone think mkts can go green today?

[11:01] {wulff} long RIMM .90

[11:01] {Threei}  I think they will mags

[11:01] {magoo} hmmmmmm..today?

[11:02] {Threei}  yup

[11:02] {wulff} too many anxious shorts still

[11:02] {magoo} whos more nervous to hold over weekend...bulls or bears?

[11:03] {Threei}  bears, IMO

[11:03] {nemo} bears

[11:03] {wulff} I am bull and I am nervous

[11:12] {Threei}  FAZ formed 18 - 18.20 range

[11:14] {ese} L 

[11:15] {ese} FITB .04

[11:15] {ese} 10000 shs

[11:15] {Threei}  nice

[11:15] {Threei}  ese turns ionto hardcore scalper

[11:15] {Threei}  what a transformation

[11:16] {ese} don't know about that......real tight stop though....   .02

[11:18] {dptl} cedc at .40 long??

[11:18] {Threei}  wow

[11:19] {Threei}  weren't we hunting for it between 14 and 14.10?

[11:19] {dptl} yeh 

[11:19] {Threei}  this is exit area

[11:19] {Threei}  not entry

[11:20] {dptl} crm?

[11:21] {Threei}  chart's right

[11:21] {Threei}  day is not very conducive to breakouts

[11:21] {Threei}  can't tell really

[11:21] {dptl} i see

[11:22] {dptl} i think i just trying to get all loses back as soos as posible

[11:23] {Threei}  don't push

[11:23] {Threei}  look at NQ

[11:23] {Threei}  or DJI

[11:23] {Threei}  do you see any pattern right now?

[11:23] {nemo} yeah, the patient is dead

[11:23] {Threei}  FAZ tightened range to .10 .20

[11:24] {Threei}  feels like .20 break should be tradeable

[11:24] {ese} back in about 15 min

[11:24] {Threei}  stop under .10

[11:24] {dptl} in

[11:28] {dptl} stopped

[11:29] {wulff} you said yesterday "pullback is coming in lower volume"

[11:29] {wulff} Where do you check that?

[11:30] {Threei}  in what?

[11:30] {nemo} RIM in a pretty consistent range so far

[11:30] {wulff} qqqq?

[11:30] {nemo} RIMM

[11:30] {wulff} Market...

[11:30] {Threei}  NQ... QQQQ...

[11:33] {Threei}  anyone played CEDC?

[11:33] {magoo} forgot about it

[11:33] {fernp} no here

[11:34] {nemo} nope

[11:38] {Threei}  FISV

[11:38] {Threei}  REPORTEDLY SEVERAL HUNDRED CLIENTS ARE SEEKING UP TO $1.0B FOR LOSSES DUE TO THE MADOFF SCANDAL

[11:38] {Threei}  was FISV one of feeder funds?

[11:41] {wulff} Rimm consolidating

[11:42] {Threei}  (US) PRESIDENT OBAMA: IF NATO BECOMES EVERYTHING, THAN IT IS NOTHING

[11:42] {Threei}  very Zen

[11:47] {nemo} so, does rimm go through 59 again, or just a tease?

[11:47] {wulff} my powers of tea leaves say a tease

[11:47] {nemo} so far so good wulffy

[11:48] {Threei}  NQ went green

[11:52] {Threei}  wow PALM

[11:52] {Threei}  elepet, you still have it?

[11:55] {ese} Back....and out FITB .16 +.12

[11:55] {Threei}  wtg

[11:56] {ese} tks

[11:56] {Threei}  made your monthly salary from the day job today eh?

[11:57] {ese} 1/2 of it.......thank you vad

[11:57] {Threei}  :)

[11:58] {ese} I'm buying the vodka next time!

[11:58] {magoo} vad..u watching STT?

[11:58] {Threei}  looked aqt it couple times

[11:58] {Threei}  don't like it at all

[11:59] {magoo} oh..i was thinking bouncer

[12:01] {Threei}  HIG is climbing

[12:01] {Threei}  FED CHAIR BERNANKE: PROGRAMS DESIGNED TO BE UNWOUND; CLOSELY MONITORING BANKS LEVELS RESERVES; TALF ELIGIBLE SECURITIES LIKELY TO EXPAND

[12:01] {Threei}  PLD is too

[12:01] {Threei}  no clean setups on any

[12:02] {Threei}  FED'S KOHN: THE FED WOULD LIKE TO HAVE THE OPTION TO ISSUE ITS OWN BILLS

[12:02] {Threei}  huh?

[12:02] {nemo} Paper trading or Legal tender

[12:03] {nemo} Must be debt

[12:06] {Threei}  pullbacks on PLD into .30 and on HIG into .25 would be interesting

[12:10] {Threei}  PLD says yeah right

[12:11] {nemo} watching FAZ for bottom?

[12:11] {nemo} RIMM S 59 break?

[12:11] {nemo} double bottom on Faz

[12:11] {Threei}  FAZ no

[12:12] {Threei}  market feels to me like mostly climbing

[12:13] {Threei}  HIG pulled back to .27

[12:13] {Threei}  a bit too fast for confident entry

[12:23] {Threei}  12:21pm [DNDN] Ticking higher, hearing strength attributed to scheduling of talk on Provenge results at conference

[12:25] {dptl} pld?

[12:26] {Threei}  canb't find any setups to read

[12:26] {Threei}  general direction is more or less readable, entries aren't

[12:31] {magoo} aapl read here vad?

[12:31] {Threei}  wow DNDN

[12:31] {magoo} if mkts go up i like it

[12:32] {Threei}  you said it

[12:32] {Threei}  what can I add

[12:33] {Threei}  I'll be darned, DNDN looks like going to 6

[12:34] {Threei}  ese... any new entry on FITB coming?

[12:35] {ese} hi vad........not sure.....wasn't watching...was doing up a math exam for one of my classes this afternoon

[12:36] {Threei}  DNDN... any questions? lol

[12:36] {Threei}  anyone just went for it?

[12:36] {ese} sold NVDA today as well  for $3000 ...you may remember that I bought that back in October.....

[12:37] {dptl} cat?

[12:37] {Threei}  yes, remember NVDA

[12:37] {ese} been a $5000 and a bit day

[12:37] {Threei}  6 on the nose DNDN

[12:37] {Threei}  and above

[12:37] {nemo} going for 7 or 8?

[12:37] {Threei}  don't know... 6 was very clear

[12:38] {dptl} cat?

[12:38] {Threei}  it just goes iwht market dp

[12:38] {dptl} ok ty

[12:40] {Threei}  strong pullback DNDN

[12:41] {ese} Vad.....I like to enter FITB after those long consolidations you make note of in the scalping book...ie from 11:00am to 11:34

[12:42] {ese} this morning

[12:42] {ese} sorry market time not victoria time

[12:50] {Threei}  these sudden spikes on FITB after pullbacks indicate that it's far from over, IMO

[12:51] {Threei}  DNDN stabilized

[12:51] {magoo} where u likeentry long?

[12:51] {Threei}  I'd say 5.60 break if holding 5.50

[12:51] {magoo} i meant FITB

[12:52] {Threei}  don't know on FITB

[12:53] {Threei}  but DNDN is over 1:1

[12:53] {Threei}  1:2 I mean

[12:55] {Threei}  I mean 1:3

[12:58] {Threei}  if I say "I mean 1:4", any furniture will be thrown at me?

[12:58] {nemo} too far away....

[12:58] {nemo} I'll send you a virus laden jpg

[12:58] {Threei}  anyone took it?

[12:59] {ese} can you actually put a virus in a jpeg?

[12:59] {nemo} Magoo Ill bet

[12:59] {nemo} yes ese

[12:59] {nemo} when you click on a jpg to view it, you're actually executing a program

[13:11] {magoo} vad..any read skf down here?

[13:14] {Threei}  nah

[13:22] {vint} good afternoon all, looks like I missed some fun

[13:23] {Threei}  not really vint

[13:23] {Threei}  tough to read day

[13:23] {nemo} basically a "flossing with barbed wire" morning

[13:23] {vint} so it is one of those Fridays..i guess

[13:24] {Threei}  yes, unless you caught those couple nice winners that were all but easy to catch

[13:26] {Threei}  hmmm... I thought DNDN was done

[13:27] {ese} signing off....have a great weekend all....

[13:27] {Threei}  take care ese, great job today

[13:28] {magoo} RIMM vad??

[13:29] {Threei}  no idea

[13:30] {magoo} GS??

[13:31] {Threei}  SEC: EVALUATING TWO OPTIONS SIMILAR TO THAT OF THE UPTICK RULE; WILL VOTE ON PROVISIONS ON APRIL 8

[13:31] {Threei}  - Also considering options on retricting short sales

[13:31] {Threei}  mags, what are you doing?

[13:32] {Threei}  you really want me to start calling them all left and righta?

[13:32] {magoo} just want u take a look at them

[13:32] {magoo} give opinion

[13:32] {larisa} vad???

[13:33] {Threei}  how about this:

[13:33] {Threei}  I'll see you all on Monday

[13:33] {magoo} i think RIMM takes 60

[13:33] {larisa} just wanted to make you nervous with all these question marks :)

[13:33] {Threei}  that's what they do

[13:33] {larisa} exactly

[13:33] {larisa} need to use them carefuly, both ?? and !!

[13:35] {Threei}  trades either come to us or not. Last thing you need is to pressure me into calling what is not there

[13:36] {vint} I agree ..I had forced trade ahter hrs on RIMM..and burnt my fingers dearly

[13:36] {vint} yesterday

[13:36] {Threei}  short?

[13:36] {vint} yep

[13:37] {Threei}  ouch

[13:37] {vint} was too eager to jump on

[13:37] {vint} big lesson learned

[13:37] {nemo} Hey Vad, just asking for education, I see a short on RIMM if it falls below .80 but long if it goes over 60

[13:37] {Threei}  arbitrary picking tops or bottoms...

[13:37] {magoo} i had i long after hours 51 cut 54..but way early

[13:38] {Threei}  looks right to me, nemo - providing market supports at the moment

[13:38] {nemo} yes, thanks, 

[13:39] {Threei}  DNDN formed same setup once again

[13:39] {Threei}  5.50 - 5.60

[13:40] {nemo} that would be 3 times to the well

[13:40] {dptl} in dndn .63

[13:40] {Threei}  it hit 1:1 while you were typing that, nemo {G}

[13:41] {nemo} well, today is officially my fault

[13:42] {nemo} just got rejected short selling rimm, huh

[13:42] {nemo} wrong routing

[13:43] {Threei}  ?

[13:43] {Threei}  how did you route it??

[13:43] {nemo} tried GETCO...bad idea

[13:45] {Threei}  DNDN over 1:1

[13:46] {nemo} GILD moving too

[13:46] {Threei}  this is third call on DNDN, all winners

[13:47] {Threei}  granted, first one was tough

[13:47] {Threei}  pure intuitive, no technical criteria

[13:47] {nemo} yeah, you didn't actually call that

[13:47] {Threei}  but second and third were clean

[13:47] {nemo} You said, I think, "Did anyone...."

[13:47] {nemo} can't argue with the second 2 also, if it clears .80 back in volume supported of course

[13:48] {Threei}  don't think... copy/paste:

[13:48] {Threei}  [12:33] {Threei} I'll be darned, DNDN looks like going to 6

[13:48] {dptl} out .74 ..ty

[13:49] {nemo} Now, RIMM is headed for sixty, kinda' but pretty verticle, would it be better to see some consolidation under 60 first?

[13:50] {Threei}  of course

[13:51] {Threei}  don't buy into spike into resistance

[13:53] {nemo} jnpr

[13:53] {nemo} no volume though

[13:54] {Threei}  if DND takes .80

[13:54] {Threei}  most likely to go over 6 at some point today again

[13:54] {Threei}  DNDN that was

[13:54] {Threei}  entry here is scary

[13:54] {nemo} yep

[13:54] {Threei}  but if gives us a pullback

[13:54] {dptl} still have 100 sh

[13:54] {Threei}  will be worth considering again

[13:55] {Threei}  try to hold them

[13:55] {Threei}  not much damage if drops

[13:55] {Threei}  I mean... 13 bucks?

[13:56] {Threei}  over 1:2 btw

[13:57] {dptl} getting rimm at 60?

[13:58] {Threei}  if market spikes, worth a try

[14:00] {_george70} hi

[14:00] {Threei}  hi george

[14:00] {nemo} curious george-about the trading room?:)

[14:01] {Threei}  DND, clearing .85 this time should take it to new range between .90 and 6

[14:01] {Threei}  DNDN

[14:01] {dptl} in rimm

[14:02] {Threei}  I don't see much help from NQ at the moment

[14:03] {Threei}  I ptrefer this kind of plays on market spike and little delay for entry on your stock

[14:03] {Threei}  DNDN is working hard

[14:04] {dptl} ahh....stopped...feels like i don't know what i am doing anymore

[14:04] {dptl} rimm that is

[14:04] {nemo} it was a trap

[14:05] {Threei}  [13:58] {Threei} if market spikes, worth a try

[14:05] {Threei}  why ignore the condition attached?

[14:05] {dptl} well..it looked like it was coming up and rim slowly broke

[14:06] {Threei}  you want the lag play for these cases

[14:06] {Threei}  WHITE HOUSE ADVISOR GOOLSBEE: NEW CEO HENDERSON 'EMBRACING' NEW CHANGE IN DIRECTION FOR THE COMPANY

[14:06] {Threei}  anyone kniows what that new direction is?

[14:07] {nemo} liquidation?

[14:07] {Threei}  gallow humor

[14:07] {nemo} jnpr has been salmoning again, kinda'

[14:08] {Threei}  if it's "make small green cars whether people want to buy them or not" - that's what will finish GM off

[14:11] {larisa} green is color of hope :)

[14:11] {nemo} it's the color you turn when you're seasick too

[14:14] {Threei}  FAZ... poor thing has no bottom

[14:15] {Threei}  weird... looked like they would meet with FAS somewhere around 1-12

[14:15] {Threei}  now it's more like 8

[14:15] {Threei}  maybe 9

[14:18] {nemo} FAS forming C&H over last week

[14:19] {magoo} faz dishes out pain

[14:19] {nemo} hehehehehe

[14:20] {dptl} dndn

[14:25] {Threei}  F EXEC: IT IS PREMATURE TO EXPECT AN AUTO INDUSTRY RECOVERY THIS MONTH

[14:25] {Threei}  this mopnth?

[14:25] {nemo} fas looks like it might be topping

[14:25] {magoo} sheesh

[14:26] {Threei}  who expected that anyway?

[14:26] {Threei}  lol

[14:28] {magoo} vad quoteserver?

[14:29] {Threei}  7

[14:29] {magoo} ty

[14:29] {Threei}  FAZ new 52 low

[14:29] {Threei}  FITB is going to break .20

[14:36] {Threei}  if I were smart today, we would have entered FITB around .10 with 5-10K shares

[14:36] {Threei}  and let trade for .20 break

[14:36] {Threei}  but I today am anaything but

[14:36] {Threei}  excpet for DNDN trades

[14:37] {magoo} financialsstrong today

[14:39] {Threei}  GM CEO: BANKRUPTCY HAS NOT BEEN RULED OUT - FT

[14:39] {Threei}  - Note: Recently GM has noted there are many ways forward including pre-packaged bankruptcy, and willing to consider bankruptcy if they cant restructure out of court

[14:40] {Threei}  where is dino... when in thw fall GM said suddenly "bankruptsy is not an option" we yelled in unison "that's the end of GM"

[14:41] {larisa} he is smart and playing golf today:)

[14:42] {Threei}  gues with whom

[14:42] {Threei}  my bet is, with Rick Wagoner

[14:42] {larisa} lol

[14:42] {Threei}  who is smart too, and has all the time for golf he needs now

[14:43] {nemo} jnpr came all the way back and is up

[15:00] {Threei}  DNDN!

[15:00] {Threei}  no read from here dp

[15:00] {Threei}  feel free to exit as you see fit

[15:01] {Threei}  that was CNBC mention

[15:01] {dptl} amm......

[15:01] {Threei}  this kind of things can wear off quickly

[15:01] {nemo} just a minute ago

[15:02] {nemo} need to keep an eye on it as a short

[15:02] {dptl} dont know what to say.......i was out   earlier 

[15:03] {dptl} can't beleive this

[15:03] {Threei}  I thought we agreed you are holding last shares with original stop'

[15:03] {Threei}  which was never hit

[15:04] {Threei}  [13:54] {dptl} still have 100 sh

[15:04] {Threei}  [13:55] {Threei} try to hold them

[15:04] {Threei}  [13:55] {Threei} not much damage if drops

[15:04] {Threei}  [13:55] {Threei} I mean... 13 bucks?

[15:04] {dptl} i was...and then it second time touched .63 i got out

[15:04] {Threei}  US TREASURY HAS REPORTEDLY BEGUN TALKS WITH CHRYSLER ON POTENTIAL DEBT EXCHANGE

[15:06] {dptl} ah....need a break or somthing

[15:06] {nemo} see a short here on DNDN

[15:06] {Threei}  I don't

[15:06] {Threei}  not yet

[15:06] {Threei}  it consolidates near the high

[15:07] {Threei}  US TREASURY HAS REPORTEDLY BEGUN TALKS WITH CHRYSLER ON POTENTIAL DEBT FOR EQUITY EXCHANGE REQUIRED TO AVOID BANKRUPTCY AND MOVE FOWARD ON FIAT ALLIANCE

[15:07] {Threei}  - Reminder the Fiat CEO recently commented that the alliance would allow US loans to repaid faster

[15:08] {Threei}  OK, now that it retreated, watch for bounce back closer to high,

[15:08] {nemo} and then short the top of that

[15:08] {Threei}  then breaking 6.10 for a short trigger

[15:08] {Threei}  or what you said

[15:09] {Threei}  depending on agressiveness

[15:09] {nemo} why .10?

[15:09] {Threei}  that was support on first drop

[15:09] {Threei}  kind of runied that setup now

[15:09] {Threei}  ruined

[15:09] {Threei}  too volatile for exact entries

[15:10] {Threei}  amazing it gave us those two setups with merely 10 cents range

[15:11] {nemo} set up back?

[15:12] {Threei}  no

[15:12] {Threei}  quite muddy here

[15:12] {nemo} yeah, where'd that spike come from

[15:13] {nemo} you're upside down BB bottom

[15:17] {Threei}  a lot of pressure in it

[15:18] {Threei}  hate shorting this kind of runners while they are hot

[15:18] {nemo} Ehh...just short a few thousand over the weekend

[15:18] {nemo} NOT

[15:27] {Threei}  looks like cooling down

[15:27] {Threei}  .20 break short if stays under .30

[15:30] {dptl} in .18

[15:30] {nemo} broke too fast

[15:30] {Threei}  over 1:1

[15:36] {magoo} like 4:1

[15:36] {Threei}  DNDN

[15:36] {Threei}  RESPONDS TO MARKET RUMORS; UNCLEAR WHY STOCK HAS PERFORMED AS IT HAS

[15:36] {Threei}  rofl

[15:36] {nemo} guess when it consolidated for a moment above .10 was another entry...sheesh

[15:37] {Threei}  this one I played like violin today

[15:37] {Threei}  too bad that was the only one, lol

[15:37] {Threei}  dp... tell me you just covered it

[15:37] {Threei}  or still haven't

[15:40] {dptl} Vad....don't ask....today i did all posible mistakes....banging my self at the table ....i got out at brake even??????? don't know why

[15:41] {Threei}  AFFIRMS PLANS TO RELEASE DATA BY END OF APRIL

[15:41] {Threei}  - Notes it has no new data for its Provenge vaccine

[15:42] {Threei}  if there is no new data, what is it they plan to release?

[15:43] {nemo} James  Dendreon secured a late-breaker presentation slot for the Provenge study at the American Urological Association annual meeting, April 25-30.

[15:43] {nemo} A late-breaker presentation is offered for clinical trials or other research that are completed and submitted after the deadline for regular abstract submission is passed. While late-breaker presentation slots are usually reserved for important or high-profile research, they ARE NOT reserved solely for positive research. I have personally sat through many late-breaker presentations of failed clinical trials. In science, you can often learn 

[15:43] {nemo} Since we already know that the Provenge data will be released later this month, the fact that the results will be presented at a scientific meeting at the end of the month doesn't tell you a whole lot about whether Provenge works or not. 

[15:46] {Threei}  what is that?

[15:46] {nemo} lifted from blogs on TSCM

[15:46] {Threei}  oh boy

[15:46] {nemo} columnists.  It might be much ado about nothing

[15:47] {nemo} guy name Adam Feuerstein-biotech guy (supposedly)

[15:49] {Threei}  so far, market consolidates for rally continuation

[15:49] {wulff} not too often you have said that

[15:49] {Threei}  barring news, next week should be just that

[15:50] {Threei}  well... how long was it since we had anything remotely reminding rally... :)

[15:50] {nemo} yesterday

[15:51] {dptl} wheuuuu...out mga +.44.......almost flat...saved the day..but ......

06[15:52] * Threei slaps dptl around a bit with a large list of mistakes he already made and doesn't have to repeat on monthly basis

[15:53] {dptl} yeah...can i get that slap on daily basis,so i can remeber lol

[15:55] {fernp} have a nice weekend all. see you on monday

[15:55] {wulff} banks really strong, but index up small

[15:55] {wulff} dow and NQ

[15:55] {Threei}  take care fern

[15:55] {Threei}  yes wulff

[15:55] {Threei}  breather day

[15:56] {Threei}  less volume, no new highs, but finishing in greeen

[15:56] {Threei}  putting bears on a very short leash

[15:57] {wulff} FAz at new low

[15:57] {dptl} have a good weekend all....

[15:57] {Threei}  take care dp

[15:58] {Threei}  [11:01] {magoo} anyone think mkts can go green today?

[15:58] {Threei}  [11:01] {Threei} I think they will mags

[15:58] {Threei}  [11:01] {magoo} hmmmmmm..today?

[15:58] {Threei}  [11:02] {Threei} yup

[15:58] {wulff} bank squeeze at close

[15:59] {Threei}  [11:02] {magoo} whos more nervous to hold over weekend...bulls or bears?

[15:59] {Threei}  [11:03] {Threei} bears, IMO

[15:59] {larisa} see you monday guys :)

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good weekend

[16:00] {magoo} ty all

[16:00] {Threei}  see you on Monday for rally continuation

[16:00] {nemo} P&Q

[16:00] {wulff} Later.

Apr 02 2009

The Bahamas trip and conference were smashing. As much as I tried to take it easy today, it was hard not to profit from this day. 1 or 3 small stops, and 6-7 winners. DRYS, BAC, RIMM, CAT, JNPR, GS... things just worked.

Session Start: Thu Apr 02 02:40:26 2009

[07:35] {nemo} anybody home?
[08:35] {fernp} Hello everybody
[08:35] {nemo} good morning
[08:35] {pita} hi all
[08:35] {Threei} Good morning!'
[08:35] {nemo} there you are
[08:35] {pita} welcome home Vad
[08:36] {Threei} thank you
[08:36] {Threei} how is trading?
[08:37] {pita} tentative on my own.........
[08:38] {pita} but finished positive
[08:38] {dptl} good morning
[08:39] {Threei} dp :)
[08:39] {dptl} Hey Vad....so....how was it?
[08:39] {Threei} beyond wildsest imagination
[08:40] {dptl} i thought so :)
[08:41] {Threei} beaches are amazing
[08:41] {Threei} water color is from outer space
[08:41] {Threei} oh, and audience liked my sessions
[08:42] {dptl} nice...:)
[08:44] {Threei} that was somewhat unusual audfience for me
[08:44] {dptl} all drunk?
[08:44] {KSystems} UNusual, dp
[08:44] {Threei} not strictly daytrading crowd, rather people from long term/investment circles, hit by last couple years developments
[08:45] {Threei} and wanting to move to self-management
[08:45] {Threei} so I needed to do some serious transitioning work
[08:47] {Threei} FAZ 52 week lows
[08:48] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: REITERATES SUPPORT FOR CREATION OF NEW CURRENCY, NEW CURRENCY MAY BE LINKED TO GOLD
[08:48] {nemo} Kettle 1 please
[08:50] {pita} leave the bottle
[08:50] {magoo} morning
[08:50] {Threei} magoo :)
[08:51] {Threei} (US) FASB: NEW GUIDANCE TO BE EFFECTIVE Q2 2009
[08:51] {magoo} hey vad:) how was trip?
[08:52] {Threei} beautiful in more ways than I could list
[08:52] {nemo} we are in q2, FAS starting a selloff
[08:52] {Threei} I guess market wanted immediate?
[08:52] {nemo} eh...coming right back, they just figured out it is q2
[08:52] {magoo} great to here vad
[08:53] {magoo} room really missed ya
[08:53] {magoo} heads up though..its been very jerky still
[08:53] {Threei} well, let me ease in
[08:53] {magoo} yea
[08:53] {Threei} got about 5 hours of sleep after the plane
[08:54] {Threei} 4 is more like it actually
[08:54] {vinod} GM to all
[08:54] {magoo} let me ask this..........
[08:55] {Threei} vinod :)
[08:56] {magoo} are u sober he he?
[08:56] {Threei} yeah... but sleep deprivation will do the dame damage :)
[09:00] {cosmo} dame?
[09:01] {larisa} good morning :)
[09:01] {Threei} cosmo, larisa :)
[09:01] {larisa} welcome back :)
[09:01] {magoo} fasb voted to relax mark-to-mkt accting
[09:01] {fernp} welcome back Vad
[09:02] {cosmo} 3i,lars:)
[09:02] {Threei} thank you :)
[09:02] {larisa} cosmo :)
[09:03] {magoo} i believe RIMM reports tonite
[09:06] {cosmo} ... a gold backed world currency?
[09:06] {cosmo} hmmm
[09:06] {magoo} sounds likr roman empire he he
[09:07] {cosmo} hmm
[09:07] {cosmo} i wonder what Ron Paul thinks about that
[09:08] {ese} weary traveller....welcome back......
[09:08] {Threei} ese :)
[09:09] {Threei} G20 DRAFT: DRAFT TEXT IN LINE WITH EXPECTATIONS
[09:09] {Threei} - To channel $750B to IMF
[09:09] {Threei} - To channel $100B to WB
[09:09] {Threei} - Calls for registration of all hedge funds
[09:09] {Threei} - Regulators globally should consider the effect of pay practices
[09:13] {cosmo} use dubloon coins maybe
[09:14] {Threei} anything about market behavior over last few days I should be aware about?
[09:16] {larisa} narrow ranges with spikes both ways. yest a little better
[09:17] {ese} don't know about the market vad....but we've been behaving badly...all off us...sory bout that
[09:18] {Threei} that's quite alright, as long as no one complains
[09:18] {Threei} hope you all enjoyed it
[09:18] {ese} we miss ya....
[09:18] {Threei} this I find hard to believe
[09:19] {ese} voice of reason.....mags and i got into a quagmire with APOL yesterday from which there was no return
[09:20] {cosmo} CMCSA
[09:20] {ese} it took us down swingin though....we didn't go down without a fight
[09:21] {KSystems} Hey everybody, are there any skydivers among you? If so, please say something :-)
[09:21] {ese} would like too but my wife wll not allow it
[09:22] {i2romantis} morning all, welcome back, Vad! we missed you!
[09:22] {Threei} hi i2r, thank you
[09:24] {Threei} FASB SPOKESMAN: NO VOTE YET ON MARK-TO-MARKET ACCOUNTING
[09:24] {Threei} headline bombardment continues?
[09:25] {Threei} okay guys, game plan is: upward bias, pullback entries
[09:26] {nemo} banks keep moving up
[09:26] {pita} watching?
[09:26] {Threei} and I will try to take it easy in order to make sure I get a feel for the market instead of jumping right in and doing damage
[09:26] {Threei} no matter how clear that bahamian water is, it pulls a curtain over one's eyes
[09:26] {Threei} usual suspects pita
[09:26] {Threei} FAS
[09:26] {Threei} BAC
[09:26] {Threei} WFC
[09:27] {Threei} STT needs some serious pullback
[09:27] {Threei} RIMM
[09:29] {Threei} DRYS... maybe there is life on this planet
[09:29] {Threei} pre-market chart shapes up as 5.50 break long for it
[09:29] {Threei} with stop under 5.30
[09:29] {Threei} probably too risky for me right now
[09:30] {nemo} getting really volatile
[09:30] {Threei} but if consolidates a little close to .50, will be valid trade
[09:32] {Threei} Long Setup: DRYS .50 break if stays above .30 - .35 zone
[09:33] {magoo} missed
[09:33] {nemo} that broke too fast
[09:33] {fernp} too fast
[09:33] {nemo} all those orders at .50 then bamm!
[09:33] {_poisonivy0} wow good call starting to like this chat room lol
[09:34] {Threei} see if gives you a pullback for entry
[09:34] {nemo} Vad's like that
[09:34] {_poisonivy0} :-)
[09:34] {Threei} FAS pullback starts looking more interesting
[09:34] {magoo} ok..in .54
[09:34] {Threei} want a bit more though
[09:35] {nemo} BAC Vad
[09:35] {fernp} BAC pulling back too
[09:36] {Threei} BAC, I'd like to see a few oscillations between .60 and .65, then .65 break for entry
[09:36] {magoo} out ,68 TY BOSS
[09:36] {Threei} DRYS 1:1, half out
[09:36] {Threei} or scalp of course if you feel like safe profit
[09:37] {_poisonivy0} do you boys spreadbet on this or trade shares?
[09:37] {Threei} if taking half, stop for the balance is trailed to under 5.45
[09:37] {nemo} in BAC
[09:37] {Threei} shares, poison
[09:37] {Threei} we are very simpleminded creatures
[09:38] {_poisonivy0} lol
[09:38] {Threei} nemo, it lost .60 for a few shakes of lamb tail...
[09:38] {Threei} doesn't fully invalidfate the play, but makes it less confidfent
[09:39] {nemo} Hell then I'm out
[09:39] {Threei} hard to tell, really
[09:39] {Threei} my strategy for such case would be half out
[09:39] {nemo} With announcements coming, why screw around
[09:39] {Threei} more to reduce the risk than to secure profit
[09:40] {Threei} as Bahamas conference head said... it's all about buying and selling risk
[09:40] {magoo} rimm getting interesting
[09:41] {magoo} not in
[09:41] {magoo} im watchoing SPY
[09:41] {Threei} watching BAC for possible double bottom
[09:42] {Threei} holding .60 and breaking .70 would be confirmation
[09:42] {magoo} l rimm .30
[09:42] {Threei} .57 is closest support, so if market/BAC start upticking, aggressive entry would be about here with stop .55
[09:43] {magoo} out .55 TY vad
[09:43] {wulff} DRYS pulback
[09:43] {Threei} pre-emptive thank you?
[09:44] {magoo} yup
[09:44] {magoo} RIMM was beauty
[09:44] {magoo} anyone}??
[09:44] {Threei} if you took BAC around .63 -.65, keep .55 stop still, trail it to .59 when it breaks .70
[09:44] {Threei} if you are regular type of entry, buy .70 break with stop under .60
[09:45] {nemo} fas Vad
[09:45] {magoo} WFC vad..keep on on it
[09:45] {magoo} mover big time
[09:45] {magoo} in bac btw
[09:45] {Threei} half out BAC here for aggresive entry
[09:45] {nemo} in BAC
[09:46] {Threei} WFC pretty much played out by the same scenario, I just want tp play with slower ones for now
[09:47] {fernp} out BAC TY
[09:47] {Threei} fern :)
[09:48] {magoo} RIMM doing it
[09:48] {pita} ty bac
[09:49] {Threei} pita :)
[09:49] {Threei} ECB'S STARK: MAY POLICY MEETING MIGHT BE THE RIGHT TIME TO DECIDE ON NON-CONVENTIONAL STEPS
[09:49] {magoo} vad..STT look
[09:49] {magoo} bouncer??
[09:50] {Threei} not sure, something is not exactly right with this one
[09:51] {pita} reload bac?
[09:52] {Threei} not yet
[09:52] {Threei} we need it to establish range to break
[09:52] {Threei} for instance, .65-.70
[09:53] {Threei} JNPR...
[09:53] {Threei} looks salmonish to me
[09:54] {magoo} long JPM .20
[09:54] {magoo} duh
[09:54] {magoo} .10
[09:54] {magoo} i took STT .20
[09:54] {magoo} vad
[09:55] {cosmo} rally
[09:55] {Threei} so, you want my approval or what? :)
[09:55] {Threei} market has already approved your entry
[09:56] {Threei} Long Setup: JNPR .50 if holding above .40
[09:57] {_poisonivy0} ^^ does this mean buy once hits .40 and hold till .50
[09:57] {magoo} out STT ,66
[09:57] {magoo} still in jpm
[09:58] {Threei} no poison
[09:58] {magoo} watching WFC big time
[09:58] {nemo} breaks 50
[09:58] {Threei} buy if it hits .50 while not going lower than .40
[09:58] {Threei} WFC mags,
[09:58] {Threei} aggressive entry if market spikes
[09:59] {Threei} ENER
[09:59] {Threei} HEARING TAKEOVER CHATTER WITH FIRST SOLAR POSSIBLE BIDDER
[09:59] {Threei} {FSLR}
[09:59] {magoo} if mkt runs it will go 17 vad
[10:00] {_poisonivy0} tnks
[10:00] {Threei} *FEB FACTORY ORDERS: 1.8% V 1.5%E
[10:00] {Threei} if ou toom WFC aggressively, stop is .85
[10:00] {magoo} in yes
[10:00] {nemo} BAC break of .80 Vad
[10:01] {Threei} EX CHAIRMAN GREENBERG: US GOVT PLAN FOR AIG HAS FAILED - CONGRESSIONAL TESTIMONY
06[10:04] * Threei slaps laserdave around a bit with a large cold glass of bahama-mama
[10:09] {magoo} sropped jpm
[10:09] {nemo} if BAC breaches .60 short?
[10:09] {Threei} can't tell yet
[10:09] {fernp} JNPR is still valid, Vad?
[10:09] {Threei} market is hesitating
[10:09] {vint} good morning all
[10:10] {Threei} vint :)
[10:10] {Threei} I think so fern, just needxs confidence to return to the market for a strong bullish move
[10:10] {fernp} ok
[10:12] {nemo} jnpr invalidated
[10:13] {fernp} yeah, lost .40
[10:13] {Threei} yeah, let's leave it be
[10:18] {Threei} RIMM
[10:18] {Threei} strange weakness
[10:18] {Threei} market makes new highs
[10:18] {Threei} short canddiate on .50 break
[10:21] {Threei} STEM
[10:21] {Threei} HEARING VAGUE CHATTER THAT STRENGTH BEING ATTRIBUTED TO COLLABORATION RUMORS
[10:21] {Threei} - Rumored that Pfizer has been put out as name interestd in JV{PFE}
[10:22] {nemo} possible C&H on BAC for short?
[10:22] {Threei} yeah, starts looking this way
[10:23] {nemo} I can hear Dino's "gap close" ringing in my ears
[10:24] {nemo} indexes look like they want up though
[10:25] {Threei} cover half RIMM who got it
[10:25] {Threei} aiming to cover the balance around .15
[10:26] {Threei} stop .55
[10:27] {Threei} did I get too greedy on the RIMM balance?
[10:28] {nemo} yeah
[10:28] {Threei} oh well
[10:28] {nemo} just this one time....
[10:29] {Threei} BAC 1:1, nemo
[10:31] {Threei} okay guys, so far so good
[10:31] {Threei} 3 or 4 calls worked, WFC didn't
[10:32] {wulff} gals
[10:32] {wulff} ?
[10:32] {Threei} gals too
[10:32] {Threei} not too shabby for a severe sleep deprivation
[10:32] {wulff} not me, however
[10:33] {Threei} US AND EU FINANCIAL REGULATORS HAVE AGREED TO CAPITAL FLOOR LEVEL FOR BANKS -WSJ
[10:33] {Threei} meaning, uniform leverage for fractional reserve?
[10:34] {Threei} nothing's wrong with that if so
[10:35] {nemo} FAS might be bottoming
[10:37] {Threei} Long Setup: DRYS .51
[10:37] {Threei} stop for hard core scalpers .44, for the rest .39
[10:38] {nemo} in
[10:39] {nemo} ooh monster order @ 52
[10:39] {nemo} gone
[10:39] {Threei} hmm?
[10:39] {Threei} there are monster orders on it everywhere
[10:39] {nemo} there was a big order @ .52 on drys, now gone
[10:40] {Threei} (US) SENATORS SEND LETTER TO SEC ASKING FOR CLEAR REGULATION REGARDING NAKED SHORTS AND ABUSIVE SELLING
[10:40] {Threei} - Letter drafted by Senators Kaufman, Tester, Levin, Isakson, Chambliss and Spector
[10:40] {Threei} - Seek clear ban on naked short selling and further regulation on abusive short selling
[10:40] {Threei} - Seek regulation that addresses the need for an uptick rule along with pre-borrowment requirments
[10:40] {_poisonivy0} the market 1 dodgey plave loll
[10:40] {_poisonivy0} markets*
[10:41] {Threei} (US) OBAMA ADMINISTRATION IS DEVELOPING A HEDGE FUND TO MANAGE $500B IN TOXIC BANK ASSETS
[10:41] {Threei} is there any kind of business government is not in yet?
[10:41] {Threei} banking, insurance, hedge funds, bodyshop...
[10:42] {Threei} psychotherapy
[10:42] {cosmo} infrastructure?
[10:43] {Threei} nice spike FAS
[10:44] {Threei} let's see if it gives us a pullback
[10:44] {Threei} I'd interested closer to .55
[10:46] {wulff} took JNPR .50
[10:46] {Threei} you are at 1:1 then
[10:47] {wulff} yup
[10:48] {magoo} what is this 1:1 of which u speak?
[10:48] {Threei} wake up DRYS, what's with this coma
06[10:48] * Threei slaps magoo around a bit with a large Master Profit Plan
[10:48] {nemo} mags: original on JNPR was .50 break stop .40 invalimudated but Wulff picked it up on range reestablishment
[10:49] {magoo} :)
[10:49] {Threei} invalimudat {--- I like the word
[10:49] {Threei} invalimudated
[10:54] {fernp} DRYS is in coma
[10:54] {Threei} pretty much
[10:55] {nemo} out DRYS
[10:55] {Threei} market pulling back on low volume
[10:55] {Threei} probably one more upward thrust is in order
[10:57] {Threei} life all but disappeared from the market
[10:57] {Threei} let's talk about bahamian beaches?
[10:58] {Threei} REMINDER: TREASURY WILL MAKE IT ANNOUNCEMENT FOR THE 10-YEAR NOTE TIPS OFFERING AROUND 11:00PM
[10:58] {i2romantis} yes, how were the beaches?
[10:59] {Threei} phantastik
[11:00] {Threei} very fine white sand
[11:00] {vint} did u miss trading?
[11:00] {Threei} U.S. TREASURY TO SELL $6B IN 10 YEAR TIPS
[11:00] {Threei} nah, I am not THAT addicted
[11:01] {Threei} some very funny looking fish around
[11:01] {nemo} Gold or miners might be a buy if that auction doesn't go well
[11:01] {Threei} (US) FASB ADOPTS VOTES TO ADOPT MARK-TO-MARKET CHANGES
[11:02] {Threei} hmm?
[11:02] {Threei} is it Enlgish?
[11:02] {wulff} JNPR survived the .50 test
[11:02] {Threei} yes wulff... classic
[11:02] {Threei} former resistance, new support...
[11:03] {wulff} touched .51
[11:04] {nemo} I wonder if M2M changes are irrelevant in it doesn't change the quality of the assets, just the price on the "for sale" sign.
[11:04] {wulff} is 17 too greedy?
[11:06] {Threei} pretty much dfepends on what market does
[11:08] {Threei} NY FED: PURCHASED $7.49B IN TREASURIES IN FIFTH ROUND OF $300B PURCHASE PROGRAM; DEALERS SUBMITTED $26.25B FOR CONSIDERATION ( 3.5 BID TO COVER)
[11:08] {Threei} - Heaviest purchase was $4.35B in the 3/31/2014 maturity
[11:08] {Threei} - Average bid to cover over last four auctions has been 3.02
[11:09] {Threei} UK PM BROWN COMMENTS ON G20; SAYS GROW MARKS FIGHTBACK AGAINST GLOBAL ECONOMIC RECESSION; IMF TO RECEIVE TRIPLING OF RESOURCES
[11:09] {Threei} - Fiscal stimulus to toal $5T by end of 2010
[11:09] {Threei} - G20 agreed to $1B available to world economy; $500B for IMF
[11:09] {Threei} - G20 agreed to $250B in SDRs
[11:09] {nemo} here we go on the new currency
[11:09] {Threei} that's not a new currency
[11:09] {Threei} that's an old currency
[11:09] {Threei} it's available to anyone for many years
[11:09] {nemo} yes but...process towards new reserve
[11:10] {Threei} and no one wants to use it
[11:10] {nemo} Perhaps it will be a perceived lesser of two evils $ or SDR
[11:10] {Threei} yeah... there was enthusiasm about it at the beginning... fizzled out... I bet it will be the same this time
[11:11] {Threei} JNPR is coming into 1:3
[11:11] {wulff} yup
[11:11] {Threei} you are on your own wulff... good trade
[11:15] {Threei} hmmm
[11:15] {Threei} FAS did pull back into .55
[11:15] {Threei} just as I wanted
[11:15] {Threei} but I probably dozed off, lol
[11:16] {Threei} [10:43] {Threei} nice spike FAS
[11:16] {Threei} [10:44] {Threei} let's see if it gives us a pullback
[11:16] {Threei} [10:44] {Threei} I'd interested closer to .55
[11:17] {Threei} G20 COMMUNIQU : STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:17] {nemo} sure...
[11:17] {Threei} I want their calculator
[11:17] {Threei} or what they are smoking
[11:18] {nemo} break of .66 on FAS?
[11:18] {Threei} nah
[11:19] {Threei} who kept DRYS, start looking for exit door
[11:20] {Threei} I am out at .58
[11:21] {Threei} probably has more in it but I am running the risk to fall alseep while it's moving
[11:21] {Threei} too bad we missed .55 on FAS
[11:21] {Threei} was nice scalp
[11:23] {Threei} *G20 COMMUNIQU: AGREE ON $850B FUNDING FOR IMF AND WORLD BANK; STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:23] {Threei} - central banks pledged expansionary policies for as long as needed; to use all policy tools
[11:23] {Threei} - G20 will take action to restore flow of credit
[11:23] {Threei} - Completing DOHA trade round is 'urgently needed'
[11:23] {Threei} - To regulate 'sistemically important hedge funds'; demand 'sustainable compensation schemes'
[11:27] {wulff} here comes 17
[11:27] {Threei} wtg
[11:33] {nemo} weird, look at BAC teetering on the edge
[11:33] {Threei} there are a lot of disconnects
[11:34] {Threei} not many stocks followed the market into highs
[11:34] {Threei} JNPR being notable and pleasant exception
[11:34] {nemo} I know it's just opinion...but this M2M is just a new paint job on the Potemkin Village
[11:35] {nemo} akamai moved nicely today too
[11:43] {pita} anyone watching aapl?
[11:45] {Threei} usually one of constantly on radar... just trying to stay away from too fast ones today
[11:50] {nemo} cat moved up nice today but might be double topping
[11:51] {Threei} everyuthing feels to me like down from here
[11:53] {Threei} things are too quiet though
[11:54] {Threei} and I hate shorting qwuiet market
[12:00] {Threei} DRYS exceeded my expectations
[12:15] {vint} RIMM is up on good volume
[12:17] {Threei} market consolidates for another break and leg up
[12:18] {Threei} trying to find followers
[12:20] {larisa} missed PLD break of day high
[12:23] {vint} Vad- when you have a moment, 1 question: for entry, what is better? limit order or market order
[12:23] {Threei} limit, a few cents above the offer price
[12:23] {Threei} not more than you are willing to chase for
[12:24] {vint} got it,thanks
[12:27] {Threei} JNPR, wow
[12:28] {nemo} Might get that 500 point day
[12:29] {larisa} nah, will close around 8000 :)
[12:29] {nemo} such a pessimist
[12:31] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: US IS PREPARED TO DISCUSS "DIFFERENT IDEAS" ON MISSLE DEFENSE SHIELD
[12:36] {Threei} IMF'S STRAUSS-KAHN: SDR WILL PROVIDE THE GLOBAL FINANCIAL SYSTEM WITH LIQUIDITY, CAN BE USED BY ONE COUNTRY TO LEND TO ANOTHER
[12:36] {Threei} - Expects SDR to increase the reserves of member states and provide stability.{EUR/USD EUR/GBP GBP/USD USD/JPY EUR/JPY USD/CAD
[12:40] {pita} later everyone, happy hunting
[12:40] {Threei} take care pita
[12:54] {Threei} anyone sees anything trade-worthy?
[12:54] {dptl} unp?
[12:55] {Threei} scary one...
[12:56] {i2romantis} thinking maybe DRYS, but very cautious
[12:56] {Threei} can punish brutally if you arer on a wrong side...
[12:56] {Threei} DRYS dropped sharply into support
[12:56] {Threei} bounce candidate with market upward resumption
[12:57] {Threei} just won't be fast
[12:57] {i2romantis} ok
[13:03] {nemo} There is a remarkable lack of volume in this move today
[13:04] {Threei} NQ looks more or less fine, considering dau is not over yet
[13:04] {Threei} what about DJI?
[13:04] {nemo} 115%
[13:04] {Threei} why lack then?
[13:04] {nemo} It's not huge volume, just a little above average
[13:05] {Threei} we still have three hours to go
[13:05] {Threei} and we are already above average
[13:05] {Threei} looks just right to me - volume increases but not becomes hysterical yet
[13:06] {nemo} look at JNPR
[13:09] {Threei} US SENATE APPROVES BUDGET AMENDMENT TO REQUIRE DISCLOSURE OF COMPANIES ACCEPTING GUNDS FROM THE FED
[13:09] {Threei} just half year later... good job boyz
[13:09] {larisa} guns ? funds ?
[13:09] {nemo} You didn't see the contributions to their campaigns
[13:09] {Threei} lol
[13:10] {Threei} funds typed by someone with skills fairly similar to mine
[13:16] {i2romantis} DRYS, new support or new sliding deck?
[13:16] {Threei} no read on it until market degines something
[13:16] {Threei} let's try short on CAT
[13:16] {Threei} .55 would be a stop
[13:17] {Threei} aggressive entry near .50
[13:17] {Threei} first weakness fron here
[13:17] {Threei} if goes over .55 will be invalidated
[13:19] {dptl} in .49
[13:19] {Threei} NAV halt
[13:21] {Threei} CAT over 1:1
[13:21] {Threei} half cover
[13:21] {Threei} beauty of aggressive entries eh
[13:21] {dptl} out 35 ty
[13:21] {Threei} welcome
[13:21] {fernp} great call Vad. ty
[13:22] {Threei} fern :)
[13:22] {Threei} out in full .28
[13:25] {Threei} and we didn't buy FAZ ascending triangle break at .75 why?
[13:25] {nemo} you're tired?
[13:25] {Threei} can't tell... I'd have to wake up to gauge that
[13:26] {Threei} and I have no intention to wake up till Mon
[13:26] {nemo} gonna' sleep through Friday, huh?
[13:31] {nemo} looks like you might be getting your bollinger band reversal formation on the indexes
[13:32] {nemo} CAT just completed it
[13:34] {Threei} JAVA
[13:34] {Threei} WSJ: DEAL FOR COMPANY FROM IBM NOW AT $9-10
[13:37] {Threei} Notes JAVA may take lower price for deal protection, with antitrust issues as a concern
[13:37] {Threei} - Reminder on 3/18: WSJ reportedly IBM was likely to pay between $10-11/shr for the company{IBM}
[13:38] {Threei} US REP KENNEDY PROPOSES TO REINSTATE GLASS STEAGALL
[13:38] {nemo} which one, from RI?
[13:38] {Threei} I can't believe it took them this long to think of it
[13:38] {nemo} wedge on FAS on 1 minute
[13:39] {nemo} ope
[13:39] {nemo} nope
[13:43] {nemo} pretty good so far Larisa
[13:43] {larisa} :)
[13:44] {vint} Vad- feels like going long for RIMM if it bounces off .40 area.
[13:44] {Threei} .40?
[13:45] {vint} not sure
[13:45] {Threei} it's under
[13:46] {vint} uh yes, i meant .20
[13:46] {Threei} okay... then yes :)
[13:47] {nemo} market woke up
[13:47] {nemo} ehh...maybe just stuck it's head out from the covers
[13:50] {nemo} JNPR head and shoulders?
[13:51] {Threei} kind of, yeah
[13:51] {nemo} I"m seein' things
[13:51] {nemo} damn flying monkees
[13:51] {Threei} a bit lopsided
[13:51] {nemo} hunchback
[13:57] {Threei} GM
[13:57] {Threei} FORECASTING RESTRUCTURING PROGRAM IN EUROPE TO LAST UNTIL THE MIDDLE OF 2009; HAS CONTINGENCIES IF TALKS TAKE LONGER
[13:57] {Threei} wow
[13:57] {Threei} what just killed finniesA?
[14:00] {dptl} drys.45?
[14:04] {Threei} tough call
[14:04] {dptl} ok
[14:05] {nemo} same w cat break of .50
[14:05] {nemo} well that went
[14:10] {nemo} CAT just spiked down to test support
[14:16] {Threei} REPORTEDLY HOUSE BILL TO REVAMP CREDIT CARD RULE HAS CLEARED A MAJOR HURDLE
[14:16] {Threei} {V MA AXP DFS JPM C}
[14:17] {nemo} what, they can't have a pound of flesh anymore and have to stop speaking braille on those explanation statements, sheesh
[14:19] {nemo} wow quite the telport on cat
[14:22] {Threei} FAZ dfoes quite readable teleportations
[14:22] {Threei} can't call them in time
[14:22] {Threei} they are lightening
[14:22] {Threei} but if you obsderve them, can scalp them quite safely
[14:22] {Threei} just don't go over half lot
[14:23] {magoo} whats the range u seeing?
[14:24] {Threei} mostly between 18 and 18.35, with useful range for scalps about 15-20 cents
[14:25] {vint} market seems quiet even after lunch hrs..right?
[14:25] {Threei} mostly, yeah
[14:25] {nemo} volume is tapering off at the moment
[14:26] {nemo} CAT's probably going back to test the highs
[14:27] {Threei} FAZ
[14:27] {Threei} .81 long if stays above .75
[14:28] {Threei} invalidated
[14:28] {Threei} .76
[14:28] {Threei} if stays above .70
[14:33] {nemo} CAT touched .91
[14:34] {nemo} .92
[14:34] {Threei} .93?
[14:34] {nemo} yep
[14:34] {nemo} was hoping for the start of a handle, might not get it
[14:38] {magoo} vad..give me a read GS paluease
[14:38] {Threei} 114 break
[14:38] {Threei} if climbs into it more or less slowly
[14:39] {Threei} other than that, nothing recognizable to me
[14:39] {Threei} maybe sharp drop into 113.20 zone for a scalp bounce
[14:40] {Threei} so far so good a for a break
[14:40] {magoo} thas pretty good
[14:40] {magoo} got read AAPL?
06[14:41] * Threei slaps magoo around a bit with a large suggestion to keep his appetite in check
[14:41] {Threei} half out GS
[14:42] {Threei} if want more than a scalp, look for .40 - .50 zone for exit
[14:42] {Threei} here we go
[14:42] {Threei} out .45
[14:43] {magoo} i got .37 TY BOSSMAN
[14:43] {Threei} welcome
[14:43] {Threei} even though you literally pulled this call out of me
[14:43] {magoo} oh wait..i pre-empt TY earlioer
[14:43] {Threei} lol
[14:44] {Threei} now I realize I missed you guys
[14:47] {magoo} we may see seelling in last half hour ahead of employmt numbers
[14:47] {Threei} or panic covering
[14:48] {nemo} was a bad adp number this week 742k
[14:48] {magoo} ya ya...that two
[14:48] {Threei} market is still up 0ver 300 points, and on a bigger volume vs yesterday
[14:48] {Threei} kind of hard to imagine shorts feeling comfiortable
[14:48] {nemo} if employment comes in in-line market will likely be happy
[14:49] {nemo} CAT vad? consolidating under .95
[14:49] {nemo} ?
[14:51] {Threei} not sure...
[14:51] {nemo} lost .90
[14:51] {Threei} somehow tough to get read on it here
[14:51] {Threei} what did we have 1-2 stops today? with about 5-7 calls working?
[14:52] {Threei} can I stop even pretending I care to find any more plays? :)
[14:53] {magoo} im down a lil
[14:53] {magoo} on my bootleg plays
[14:53] {magoo} so get working
[14:53] {nemo} oy weh
[14:53] {Threei} those are not my resp;onsibility
[14:54] {Threei} I never endorsed bootlegging
[14:54] {Threei} (without cutting me my share that is)
[14:56] {nemo} idiot me...when cat lost .90 I also saw the indexes weakening...obvious short
06[14:56] * nemo slaps nemo around a bit with a large sledge hammer
[15:17] {larisa} .
[15:19] {Threei} ..
[15:19] {dptl} ok..here ...
[15:19] {larisa} lol
[15:39] {dptl} nite all
[15:40] {Threei} take care dp
[15:44] {nemo} CAT got time to break the C&H?
[15:44] {Threei} time, yes... gas, not so sure
[15:45] {nemo} bounce near .70?
[15:46] {nemo} nope
[15:46] {Threei} I don't know what to make of this sudden reversal in everything
[15:46] {Threei} it throws off all technical reads
[15:47] {nemo} locking in gains
[15:47] {nemo} although, just got a hammer on cat
[15:48] {nemo} wow
[15:49] {Threei} so... is the room topic right for today?
[15:49] {nemo} Magoo...I think this is for you
[15:50] {Threei} he has no idea where to look for room topic
[15:50] {nemo} Why don't you tell him?
[15:50] {Threei} what for?
[15:51] {nemo} Why not?
[15:51] {Threei} we discuss the room topic, he gets curious, asks where it is
[15:51] {Threei} we don't tell him
[15:51] {nemo} oh
[15:51] {Threei} he feels tortured
[15:51] {Threei} isn't it fun you would expect me to want to have?
[15:51] {nemo} yeah...like clubbing baby seals
[15:52] {nemo} that might have been a bit extreme
[15:52] {nemo} Perhaps the PPT thought a finish above 8000 was just too much
[15:52] {Threei} larisa nailed the day the closest
[15:53] {larisa} 8 more monutes, 40 more points
[15:53] {larisa} O=I
[15:54] {nemo} volumes just a hair above average
[15:59] {larisa} see you tomorrow guys, vad get good sleep :)
[15:59] {Threei} thank you all
[16:00] {Threei} have a great evening, see you tomorrow!
[16:00] {magoo} ty vad..all
[16:00] {vint} thanks Vad, bye all

ATTENTION: all new orders and trial requests are going to be handled on Thu April 2, after Vad's return from the conference on the Bahamas. Thank you for your patience!

Mar 25 2009

Morning was very nice with all the usual plays: FAS, BAC, WFC, GE longs. We did catch a whiff of reversal and shorted FAS and GE  but unfortunately limited ourselves to scalping profits.                                                                         

Session Time: Wed Mar 25 00:00:00 2009

[07:29] {nemo} Haroo

[08:21] {Threei}  Good morning

[08:22] {i2romantis} morning vad

[08:22] {Threei}  i2r :)

[08:29] {cosmo} DRYS trys

[08:30] {nemo} cosmic :)

[08:30] {Threei}  *FEB DURABLE GOODS ORDERS: -+3.4% V -2.5%E;

[08:30] {cosmo} :)

[08:30] {nemo} Vad what does "-+3.4%" mean

[08:30] {cosmo} .78 so far

[08:31] {Threei}  FEB DURABLE GOODS ORDERS: +3.4% V -2.5%E; DURABLES EX-TRANSPORTATION: +3.9% V -2.0%

[08:31] {Threei}  - Prior Durables revised from -4.5% to -7.3% (second revision)

[08:31] {Threei}  - Prior Durables Ex Transportation revised from -3.0% to -5.9% (second revision)

[08:32] {Threei}  steady stream of improving economic indicators lately

[08:43] {vinod} good morning to all

[08:44] {Threei}  vinod :)

[08:45] {fernp} Hello everybody

[08:45] {nemo} morning

[08:45] {Threei}  RBS ANALYSTS SEE THE ECB MAKING A 50BPS CUT TO THE PRIME POLICY RATE AT THEIR APRIL MEEING

[08:45] {Threei}  fern, nemo :)

[08:48] {Threei}  be back in 5

[08:55] {pita} Hi all

[08:55] {Threei}  pita :)

[08:56] {dino} gm all

[08:57] {Threei}  dino :)

[08:57] {Threei}  wow

[08:57] {Threei}  you connected without torture today?

[08:57] {larisa} good morning :)

[08:57] {Threei}  larisa :)

[08:57] {magoo} kjhsdakeafhkddak

[08:58] {Threei}  mags :)

[08:58] {dino} me?

[08:58] {Threei}  yes

[08:59] {dino} i lost the old way on a security upgrade. using the internet

[08:59] {dino} no slapping

[09:06] {ese} morning

[09:06] {Threei}  ese :)

[09:06] {Threei}  BAC and WFC look the strongest among finnies

06[09:07] * magoo slaps laserdave around a bit with a large trout

[09:07] {magoo} sigh

[09:07] {Threei}  morning warm-up?

[09:07] {magoo} i miss when we all were childish and slap fest 

[09:08] {i2romantis} FAS moving well so far

[09:08] {Threei}  yup

[09:13] {cosmo} TIBX

[09:13] {magoo} vad..new NEWS RIMM?

[09:13] {dino} sssssssssssssssslap

[09:13] {magoo} ok

06[09:13] * magoo slaps dino around a bit with a large trout

06[09:14] * magoo slaps dino around a bit with a large trout

06[09:14] * magoo slaps dino around a bit with a large trout

[09:14] {dino} fri close gap around 41.60 magoo fwiw

[09:14] {Threei}  06:02am [RIMM] Shares assumed underweight at JP Morgan, price target $40

[09:14] {Threei}  03/24/09 05:30pm [RIMM] Kaufman Initiates RIMM with Hold, price target: $50.00

[09:16] {Threei}  03/25/09 03:06am

[09:16] {Threei}  [BAC] Bank of America Corp CEO Lewis: Intend to begin repaying bailout funds in April - LA Times

[09:16] {Threei}  - Lewis told the LA Times the bank would seek to payback th ebulk of its goverment funds once the financial system becomes more sound.

[09:16] {Threei}  - He defended purchases of Countrywide Financial and Merrill Lynch as strategically sound, long-run plays.

[09:16] {Threei}  - Lewis stated that he has seen no indicators from US gov that BAC will fail gov stress tests.

[09:16] {Threei}  - Note that BAC is tje 3rd largest benefactor of US aide behind AIG and C. BAC is currently paying the US gov $2.85B in dividends per year.

[09:16] {Threei}  - Reminder: On March 18, CEO Lewis said BAC could pay back $45B in TARP funds in 2009 or at the start of 2010. Earlier, on March 2, he called BAC's second request for $20B of govt aid for Merrill transaction a'tactical error and said it was possible BAC could pay back TARP funds in two or three years.

[09:18] {dptl} good morning

[09:18] {magoo} oph oh..vad..i did new download and now i do not see isld or inet in route slection

[09:19] {Threei}  dp :)

[09:19] {magoo} thers a naz route??

[09:21] {Threei}  Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.

[09:21] {magoo} HOW?

[09:21] {magoo} sorry, u know me

[09:21] {vint} good morning all

[09:21] {Threei}  I've no idea

[09:21] {Threei}  ask dave

[09:22] {Threei}  I haven't updated yet

[09:22] {Threei}  vint :)

[09:23] {pita} what's with DRYS?

[09:24] {Threei}  bad earnings

[09:28] {ese} makke sure you don't like it too much down there in the Bahama's Vad.......we like you just fine up here on the island???

[09:28] {Threei}  for our friend from Poland:

[09:28] {Threei}  Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.

[09:28] {Threei}  oops, wrong post

[09:28] {magoo} im scared

[09:28] {Threei}  *(PD) POLAND CENTRAL BANK CUTS INTEREST RATES BY 25 BPS TO 3.75%, AS EXPECTED

[09:29] {Threei}  lol ese

[09:29] {nemo} RIMM

[09:30] {cosmo} DRYS pre mkt high = 4.89

[09:30] {Threei}  watch WFC for bounce

[09:30] {cosmo} gonna test

[09:31] {Threei}  would like to see a quick dive under 16

[09:32] {Threei}  oh well

[09:32] {ese} L HIG .50

[09:33] {ese} ouuuuuuuuu was thinking FAS.........

[09:33] {Threei}  looks like entry on pullbacks is a theme

[09:34] {Threei}  FAS

[09:34] {Threei}  around .50

[09:34] {Threei}  wtih stop under .40

[09:34] {Threei}  BAC

[09:34] {Threei}  .70 break

[09:35] {Threei}  stop under .60

[09:35] {nemo} in bac

[09:36] {dino} v hurt

[09:36] {Threei}  FAS first strength from here

[09:36] {magoo} in .43

[09:36] {Threei}  yup

[09:36] {Threei}  quite hectic action

[09:37] {Threei}  but should become more streamlined

[09:39] {Threei}  WFC .11 long if holding above 16

[09:40] {Threei}  US TREASURY SEC GEITHNER: RESOURCES STILL REMAIN IN TARP, WILL BE DIFFICULT TO REPLENISH FUNDS ONCE USED

[09:40] {Threei}  sheesh

[09:40] {Threei}  can they all just shut up?

[09:41] {Threei}  half out FAS

[09:41] {Threei}  scalpers know, right?

[09:41] {magoo} out .56 TY

[09:41] {Threei}  half out WFC

[09:42] {wulff} got WFC ty

[09:43] {Threei}  WFC stop to .08 for the balance

[09:43] {magoo} out wfc TY

[09:43] {Threei}  FAS stop to .45 for the balance

[09:43] {Threei}  BAC is laggard

[09:44] {Threei}  not sure if it's just biding its time or has no gas

[09:44] {Threei}  if uncomfortable, trail stop to .64

[09:45] {Threei}  WFC baby

[09:45] {Threei}  1/4 more out .40

[09:45] {Threei}  stop to .19

[09:46] {Threei}  BAC, you are becoming irritating

[09:46] {magoo} yea

06[09:46] * Threei kicks BAC in the rear

[09:47] {Threei}  WFC, my little beauty

[09:47] {Threei}  out .47

[09:47] {Threei}  +.35

[09:47] {Threei}  did I kick wrong side BAC?

[09:48] {Threei}  out

[09:48] {Threei}  it annoyed me

[09:48] {nemo} yeah and then it ran into fas

[09:49] {ese} out HIG ..50 even ...no clear direction

[09:49] {ese} dn now

[09:50] {Threei}  GE

[09:50] {Threei}  yesterday's high .91

[09:50] {Threei}  looks like the thing decided to move for real

[09:51] {Threei}  let's see if we get pullback

[09:51] {Threei}  .80 - .85 zone

[09:51] {Threei}  FAS, 1/4 more out

[09:51] {Threei}  .65, +.22

[09:53] {pita} leaving early today - gl everyone

[09:53] {Threei}  take care pita... not bad for 20 minutes of work, lol

[09:54] {dino} \gmcr sm l .40

[09:54] {fernp} closed BAC +.05 ty. Was uncomfortable w/it

[09:55] {Threei}  can't blame you really

[09:55] {Threei}  thing seriously lags the rest

[09:56] {Threei}  US TREASURY GEITHNER: OPEN TO IDEA OF SDR LINKED CURRENCY SYSTEM

[09:56] {nemo} Case of Kettle 1 please

[09:57] {Threei}  give me some cave to crawl in and never hear from these guys again

[09:57] {Threei}  until they have something to say asbout real issues

[09:57] {nemo} cement up the entrance

[09:57] {Threei}  US TREASURY GEITHNER: "OPEN" TO IDEA OF SDR LINKED CURRENCY SYSTEM SUGGESTED BY CHINA; USD WILL BE LINKED TO GOOD US POLICY

[09:57] {Threei}  and install couple machine-guns on entrance

[09:57] {Threei}  with motion sensors

[09:59] {Threei}  GE won't pull back

[09:59] {Threei}  11 break is obvious trigger

[09:59] {Threei}  hate breaks on these stocks

[09:59] {Threei}  discretionary trade guys

[09:59] {Threei}  decide for yourself whether you like it or not

[09:59] {wulff} breakouts fail more?

[10:00] {Threei}  FEB NEW HOME SALES: 337K V 300KE (% M/M)

[10:00] {Threei}  on these financial thick stocks, yes

[10:00] {Threei}  breaks fail more often than work

[10:00] {Threei}  but we got news right at this point

[10:00] {Threei}  out FAS in full

[10:01] {Threei}  .86

[10:01] {magoo} nice boss

[10:01] {Threei}  +.43

[10:01] {i2romantis} nice

[10:01] {magoo} B..gave your phone numberAC 

[10:02] {Threei}  - New Home months of supply: 12.2 v 12.9 months m/m

[10:02] {Threei}  - Prior New Home Sales revised from 322K to 309K{XHB}

[10:02] {Threei}  - Median sales price: $200,900 v $206,800 m/m (%); $245,300 y/y (-18% y/y)

[10:03] {Threei}  yeah, BAC fooled me big time

[10:03] {Threei}  but heck

[10:03] {Threei}  am I unhappy with this opening?

[10:04] {vint} good beginning, vad, thanks

[10:05] {Threei}  GRMN

[10:05] {Threei}  HEARING RENEWED TAKEOVER CHATTER CIRCULATING

[10:05] {Threei}  :)

[10:05] {dino} gmcr stopped -.43

[10:05] {dino} lphi l .06

[10:07] {dino} new march highs

[10:08] {dino} push for 8k end of quarter?

[10:08] {cosmo} the highs of march

[10:08] {Threei}  certainly feels this way dino

[10:09] {dino} mark-ups on force, they don't want to underperform

[10:11] {dino} lphi stop to .31

[10:12] {Threei}  see how breakouts are struggle on these stocks?

[10:12] {Threei}  if you tried FAS at 7, torture

[10:12] {i2romantis} lows are coming in 20 mins?

[10:12] {Threei}  GE at 11, even news at that very moment moved it 10 cents only

[10:12] {nemo} I'm having deja vu 

[10:13] {dino} out lphi .32, +.26

[10:13] {dino} been there done that nemo

[10:14] {dino} f#ck, where's my 8k hat?

[10:14] {Threei}  Chaeron stole it

[10:14] {Threei}  he collects those

[10:15] {dino} :)

[10:16] {magoo} i have it dino

[10:16] {dino} oh mannnnnnnnnn, swiper

[10:17] {magoo} jesus..dino threw a bag of jelly beans at me and it exploded NO SHIT

[10:17] {dino} he's whining

[10:17] {Threei}  lol

[10:18] {Threei}  you guys crack me up

[10:18] {dino} vad, look at tlt/tbt today

[10:18] {Threei}  that's very counter-intuitive

[10:18] {Threei}  let's buy TBT .80 break?

[10:18] {i2romantis} i'm just curious, how come i don't see you guys shorting much?

[10:18] {nemo} well tbt tanked big time yesteray afternoon

[10:19] {i2romantis} i must be missing something

[10:19] {Threei}  market is uotrending i2r... why would we?

[10:19] {Threei}  we shorted a lot during downtrend

[10:19] {i2romantis} got ya

[10:19] {dino} 12r, shorted the 20 year yesterday

[10:20] {i2romantis} i must have missed that before, i only noticed you guys going long

[10:20] {dino} and had the qid at open

[10:20] {dino} yesterday

[10:20] {Threei}  you haven't seen this alert:

[10:20] {Threei} Short Setup: SOMETHING  at some price

[10:20] {Threei}  ?

[10:20] {dino} you had me on ignore roman

[10:20] {i2romantis} will pay attention :)

[10:20] {i2romantis} thx

[10:21] {nemo} I thought it was "anything

[10:21] {nemo} "anything"

[10:21] {Threei}  I rememmebr couple weeks when we were shorting CAT every day

[10:22] {wulff} TBT

[10:22] {magoo} we were? cant remember..what CAT do? pet supplies?

[10:23] {Threei}  yeah... kittens, toys, cat food

[10:23] {Threei}  and broadcatsts cat fights

[10:26] {Threei}  US HOUSE DEMOCRATS PROPOSE A $3.45T BUDGET FOR 2010

[10:28] {ese} missed that nice run up in HIG....some days you are the bug ...somedays you are the windshield

[10:29] {nemo} Reminds me of a joke...what's the last thing to go through a bugs mind when it hits the windshield?

[10:30] {nemo} tough crowd

[10:30] {ese} his a Hole

[10:30] {Threei}  DOE CRUDE: +3.3M V +1.1ME

[10:30] {nemo} nice ese

[10:31] {nemo} Who was it that was talking about having an 11 year old's sense of humor?

[10:31] {nemo} CAT kissing the highs

[10:33] {dino} sidetracked

[10:33] {nemo} who cat?  no, up .08 last minute

[10:33] {nemo} .13

[10:34] {ese} L NUAN .64

[10:34] {ese} dino did you find any big down gappers

[10:35] {dino} sorry es, just got bid accepted on myrtle beach condo, sidetracked for an hour

[10:36] {ese} right on........I'm I comin to golf

[10:36] {dino} next wek

[10:37] {Threei}  if I don't play golf, can I just drop by with beer?

[10:37] {ese} this pattern in NUAN is guranteed to work from Vads book

[10:38] {ese} lol

[10:38] {dino} foreclosurer

[10:38] {ese} nice

[10:39] {ese} have you seen it dino

[10:40] {magoo} vad..i miss anything u in?

[10:40] {magoo} picking up jelly beans

[10:40] {Threei}  no

[10:40] {Threei}  was looking at FAS on pullback to .70, and in rertospect it was right spot

[10:40] {magoo} ok..ill keep pickin up then..appx 200 to go

[10:41] {Threei}  but at the moment pace was so flat,

[10:41] {Threei}  could easily go either way

[10:41] {Threei}  lol

[10:42] {dino} internet pictures, but I have stayed in similar units, barefoot resort (dye courses)\

[10:44] {nemo} BAC forming ascending triangle

[10:46] {ese} deon't know what i was thinkin vad....you said pullbacks are the order of the day....and what do I do....try a breakout......."the gates are down ..the lights are flashing, but that train just ain't a comin!!"  sheesh

[10:47] {Threei}  yeah, we are not in a happy-bubbly-giddy stage of the bull yet, when any entry works

[10:48] {nemo} Train kept a rollin' all night long...

[10:48] {vinod} fas 070 still good

[10:49] {vinod} ?

[10:49] {ese} not in my case today nemo

[10:50] {ese} I'm sure that I could demonstrate the inate ability to drown in a parking lot puddle today.....

[10:50] {nemo} Oh it kept a rollin...right over you

[10:50] {Threei}  not sure vinod

[10:50] {Threei}  kind of 50/50 here

[10:50] {Threei}  easy money has been made for the morning

[10:50] {ese} ha ha yuk yuk

[10:52] {Threei}  in fact...

[10:52] {Threei}  GE starts looking like short on .90 breakdown

[10:52] {Threei}  if sdtays under 11

[10:52] {nemo} Better than Nancy Sinatra and her boots

[10:52] {Threei}  and FAS on .70 breakdown

[10:52] {ese} indeed

[10:52] {Threei}  that was for i2r :)

[11:02] {Threei}  everything's struggle

[11:02] {i2romantis} yes

[11:03] {Threei}  same pattern as yesterday so far:

[11:03] {Threei}  easy money is made quickly after the open,

[11:03] {Threei}  then long period of boredom

[11:06] {Threei}  NY FED: PURCHASED $7.5B IN TREASURIES IN FIRST ROUND OF $300B PURCHASE PROGRAM

[11:08] {Threei}  NORTH KOREA REPORTEDLY HAS MOVED MISSILE TO LAUNCH PAD - JAPANESE PRESS

[11:10] {cosmo} they need to talk

[11:14] {Threei}  FAS 1:1

[11:15] {Threei}  can't believe I subjected myself to this water torture for this gain

[11:15] {nemo} I got stopped out @ .76

[11:15] {Threei}  that was very stingy stop

[11:16] {Threei}  real resistance was .80

[11:17] {dino} ok, back to work

[11:17] {Threei}  just as with pullbacks on a long side.. on both FAS and GE short entry on bounce near the resistance would be much better idea

[11:17] {dino} ese what are you looking at?

[11:19] {i2romantis} getting frustrated with TD's slow fills...

[11:19] {Threei}  oh come on...

[11:19] {Threei}  we talked like 3 months ago about it being not suitable for day trading

[11:19] {Threei}  you like torturing yourself? :)

[11:20] {i2romantis} seems that way

[11:20] {i2romantis} contacted dave, switching soon

[11:20] {Threei}  GE's turn finally it seems

[11:21] {Threei}  moving my stop to .95

[11:21] {Threei}  FAS 1:2

[11:22] {Threei}  I'll be a tightwad and move GE's stop to .91

[11:24] {Threei}  whatever

[11:24] {Threei}  covered GE .82

[11:24] {Threei}  plus whooping 8 cents

[11:24] {vint} out GE +.07

[11:25] {Threei}  it's just too slow to get a firm read

[11:25] {Threei}  and having almost perfect day, with little BAC shakeout the only exception, don't want to jeopardise it

[11:25] {dino} sm l apol .00

[11:26] {magoo} just covered GE short dime..ty vad

[11:26] {Threei}  no FAS?

[11:26] {magoo} took bac with it

[11:26] {magoo} no fas

[11:26] {Threei}  okay... whatever works

[11:27] {Threei}  FAS worked the best of them all

[11:28] {dino} apol stop is .85\

[11:30] {dino} stopped apol -.15

[11:30] {magoo} thats cause i didnt take it

[11:36] {Threei}  BAC works nicely now

[11:37] {vinod} at 0.70?

[11:38] {Threei}  ?

[11:43] {dino} hl s nue .10

[11:44] {dino} stop is .38

[11:45] {KSystems} I'm buying the OIH here...83.10

[11:45] {KSystems} lets see

[11:47] {Threei}  what to see... nice scalp :)

[11:48] {Threei}  IBM

[11:48] {Threei}  PREPARING FOR LAYOFFS IN US SERVICES UNIT; WILL SHIFT MORE WORK TO INDIA - WSJ CITIES SOURCES

[11:48] {Threei}  I see stimulus works well

[11:49] {dino} stopped nue .05 +.05 markety strength

[11:49] {dino} nite l .66

[11:59] {dino} mygn

[12:00] {dino} 7 bucks

[12:00] {i2romantis} sure hope that laser software does better job at updating buying power, cause TD's sucks

[12:00] {Threei}  it's real time...

[12:01] {Threei}  you bought something, your BP went down... you sold, it went back up

[12:04] {i2romantis} i know, just doesn't do it cleanly with TD's ATP

[12:04] {Threei}  hehe... last time I traded with broker with that kind of interface was 1997... :)

[12:05] {i2romantis} with every tran bp is lower by 200-300, not sure if related to us/cdn exchange issue, as I still use some cdn funds when usd are all used up

[12:05] {i2romantis} I think i'll be switching in April

[12:05] {Threei}  anyone remember Datek?

[12:05] {magoo} we used it

[12:05] {magoo} datek

[12:05] {Threei}  :)

[12:06] {dino} nite stop to .78

[12:06] {dino} out .80, +.14

[12:10] {Threei}  starting tomorrow morning, Prez is holding online townhall meeting, answering sumbitted questions

[12:10] {Threei}  I have just one question... when does this guy work?

[12:11] {magoo} no kidding

[12:12] {Threei}  REMINDER: THE FED'S PIANALTO IS SCHEDULED TO SPEAK AT 12:20PMET AND FED'S YELLEN TO SPEAK AT 1PMET

[12:12] {Threei}  - both are speaking on the US economic outlook.

[12:12] {Threei}  - Pianalto will not release an advanced text, will take audience Q&A.

[12:12] {Threei}  - Yellen will have an advanced text and take questions afterward from reporters.

[12:15] {Threei}  TREASURY SEC GEITHNER: ECONOMIC DETERIORATION PACE HAS SLOWED

[12:22] {Threei}  FED'S PIANALTO: DATA CONFIRMS SEVERE RECESSION; CREDIT CONSTRAINTS ARE MAIN PROBLEM, GDP SHOULD STABILIZE BY YEAR END

[12:22] {Threei}  - Notes that the TALF program is critical to getting credit flowing once more

[12:22] {Threei}  - Remarks that the Fed is prepared to further expand Fed balance sheet

[12:24] {Threei}  and market drops why?

[12:27] {Threei}  US) TREASURY SEC GEITHNER: STRONG USD IN AMERICA'S BEST INTEREST; NO INDICATION FOREIGN BUYERS ARE LOSING INTEREST IN PURCHASES OF TREASURIES - CNBC INTERVIEW

[12:27] {Threei}  - financial institutions must have stronger quality of disclosure than we have now.

[12:28] {nemo} goin' for the title

[12:28] {Threei}  is it a requirement for all treasury seceretaries to say 'atrong dollar is in US interests"?

[12:28] {nemo} talking points

[12:28] {Threei}  I don't remember any one them not saying this,

[12:29] {Threei}  even when USD was in the crapper

[12:29] {dino} realistically it is in bond buyers interest, not us

[12:31] {dino} qld l .57

[12:36] {Threei}  http://finance.yahoo.com/tech-ticker/article/218286/One-Small-Problem-with-Geithner's-Plan-It-Will-Bankrupt-the-Banks?tickers=aig,c,bac,wfc,xlf,^gspc,^dji

[12:38] {nemo} what's your stop Dino?

[12:39] {dino} .34

[12:39] {dino} poor entry

[12:49] {Threei}  I am at serious risk to break my chin off my desk

[12:50] {dino} stopped, sorry nemo

[12:50] {Threei}  and break the desk and keyboard in a process

[12:50] {larisa} Blodget is the one who barred from markets for life right ? I think his judgement is clouded a bit :)

[12:50] {dino} nue s .19

[12:50] {Threei}  UN URGES THE G20 TO SUPPORT A $1T PLAN TO HELP DEVELOPING COUNTRIES

[12:51] {dino} milken

[12:51] {Threei}  well, there are arguments in the article

[12:51] {Threei}  either they are valid or not

[12:52] {dino} ndx wants to fill open gap

[12:55] {larisa} when anybody says something, to me it always agenda behind the words. Quid pro quo. 

[12:55] {Threei}  that's why I dismiss the whole 'consider the source" - everyone has an agenda

[12:55] {larisa} I believe Tim's plan will work1 :)

[12:55] {Threei}  so why not look at the message itslef and evaluate its merits

[12:56] {Threei}  don't tel me Tim has no agenda {G}

[12:56] {larisa} lol

[12:56] {Threei}  he is too terrific for that

[12:56] {magoo} first on agenda is to hire secretary

[12:57] {Threei}  I think it's done already

[12:57] {Threei}  ghone are sad times when tim was home alone

[12:57] {dino} larisa for tim's sec

[12:58] {larisa} no thanks :) He is not my type

[12:58] {larisa} of boss

[12:58] {dino} :)

[12:58] {Threei}  and we don't want Larisa in harms way when Tim is getting ostracized and tar and feathers become the main furniture in his office

[12:59] {nemo} you mean his wardrobe

[13:00] {Threei}  depends on where angry mob catches up with him

[13:00] {Threei}  FED'S YELLEN: US MUST USE ALL TOOLS IN CRISIS, STIMULUS MAY ASSIST ECONOMY NEXT QUARETER

[13:00] {larisa} I doubt I can be anybody's secretary, he yells at me once and poison in his coffee will make me unemployed.

[13:01] {Threei}  lol

[13:02] {Threei}  I never yelled at secretaries but being focused on something completely I used one gal's cup of coffee as an ashtray...

[13:03] {Threei}  poor girl looked at it, sighed and took about 10 minutes before finally saying

[13:03] {Threei}  umm... that was my coffee...

[13:04] {Threei}  FED'S YELLEN:

[13:04] {Threei}  UNEMPLOYMENT TO PEAK NEXT YEAR

[13:04] {Threei}  - Deflation larger risk than inflation at the moment

[13:04] {Threei}  - Remarks that housing may have reached a bottom yet uncertainty remains in economic outlook

[13:04] {Threei}  - Core inflation to be below 1% for next couple years

[13:04] {Threei}  - TALF may be extended to CMBS and RMBS

[13:05] {Threei}  by the way... whether accusations against Blodget were true or not, his competence was never really in question

[13:05] {larisa} yeah, his AMZN call to $400. i remember that one :)

[13:06] {larisa} wild guy

[13:06] {Threei}  that was actually the one that started his star reputation

[13:06] {larisa} right

[13:06] {dino} cov nue .00, +.20

[13:06] {dino} .19

[13:07] {dino} l nue .05

[13:11] {dino} out nuec .90 -.15

[13:13] {dino} whippy

[13:14] {vint}  CAT sinking down

[13:14] {Threei}  yeah, will be a bounce scalp canadidate very soon

[13:18] {magoo} mkts rotting here

[13:19] {Threei}  one more quick leg down CAT

[13:19] {Threei}  FAS nears bounce zone as well

[13:19] {Threei}  CAT, between 29 ans 29.10, on pause and strength

[13:20] {Threei}  if never loses 29.10 and market spikes, .20 break

[13:20] {Threei}  IMF'S STRAUSS KAHN: DISCUSSION OF RESERVE CURRENCY SITUATION IS A LEGITIMATE ONE

[13:20] {nemo} can hear the clinking bottles now

[13:22] {magoo} in .18

[13:23] {Threei}  I am still in the trenches

[13:23] {ese} I'm outta here...still hangin on to my 1/2 lot of nuan......we'll se what happens at the end of the day

[13:23] {Threei}  take care ese

[13:23] {nemo} what's that mean Vad?

[13:24] {ese} see ya vad.......remember no house shopping in the bahamas

[13:24] {Threei}  lol

[13:24] {Threei}  waiting for CAT entry to come to me nemo

[13:25] {dino} ndx gap filled

[13:27] {larisa} did CAT have news ?  

[13:27] {Threei}  no

[13:27] {Threei}  in

[13:27] {Threei}  .75 stop

[13:28] {Threei}  stopped

[13:28] {Threei}  hmm... feels bottomed

[13:29] {Threei}  nope... market is still sliding

[13:29] {Threei}  .70 break in

[13:29] {Threei}  stop under .65

[13:30] {Threei}  come on, it's time

[13:32] {dino} nue l .45

[13:33] {Threei}  sheesh... is this all??

[13:33] {Threei}  half out CAT .81

[13:34] {larisa} selling pressure is amazing

[13:34] {nemo} might need a double bottom after that fall

[13:34] {Threei}  that's your Tim's plan in work :)

[13:34] {larisa} lol

[13:34] {Threei}  out second half

[13:34] {Threei}  whatever

[13:34] {Threei}  too much struggle

[13:35] {dino} stopped -.15 done w/it

[13:36] {Threei}  WFC

[13:36] {Threei}  MOODY'S LOWERS RATINGS TO A1 FROM AA3

[13:36] {Threei}  market sells down like end of the world is here again

[13:40] {dptl} have a good evening all...finishing early today....

[13:40] {Threei}  take care dp

[13:41] {i2romantis} me too, done for today until I see some recovery

[13:41] {Threei}  i2r :)

[13:41] {Threei}  clever people quit while they are ahead

[13:41] {i2romantis} :)

[13:42] {dino} skf v sm l .40

[13:47] {dino} stopped

[13:47] {dino} taking a break

[13:48] {Threei}  FED'S YELLEN: DISINFLATION CANNOT BE UNDERESTIMATED - Q&A

[13:59] {Threei}  FAS, should be putting bottom in around here

[14:02] {Threei}  panic

[14:02] {magoo} rotting

[14:03] {magoo} red

[14:03] {Threei}  don't jump in, let it calm down

[14:04] {Threei}  now .96 break becomes long trigger if holding .90

[14:04] {Threei}  and don't touch it if not ready for a few tries

[14:08] {Threei}  something is seriously bothering the market

[14:09] {Threei}  (whispering) maybe Tim's plan

[14:09] {larisa} no, something else

[14:09] {Threei}  well... suggest your version :)

[14:10] {larisa} can not come up with anything (Tim, Tim, Tim in my head). You still think this market needs a reason ?

[14:11] {dino} sm l nite .30

[14:11] {Threei}  well... to turn around like this, yes

[14:12] {nemo} call on FAS vad?

[14:13] {Threei}  none

[14:13] {Threei}  it doesn't form clean setup

[14:13] {Threei}  just moves up and down

[14:13] {Threei}  I mean down and up

[14:16] {Threei}  6.05 if holding above 5.95

06[14:17] * magoo slaps Threei around a bit with a large trout

[14:17] {Threei}  6 break as aggressive entry if you prefer this kind

06[14:17] * magoo slaps Threei around a bit with a large trout

[14:17] {Threei}  wtf?

[14:17] {magoo} practicing for when it fails to work

[14:17] {Threei}  invalidated

[14:18] {Threei}  or to put it more precisely, modified

[14:18] {Threei}  .96 if hholdiong above .90

[14:18] {Threei}  etc

[14:18] {magoo} we need futes to turn up

[14:18] {Threei}  you don't sday

[14:19] {magoo} sarcasm??

06[14:19] * magoo slaps Threei around a bit with a large trout

[14:19] {Threei}  .90 break if holding above .85

[14:19] {Threei}  you got the idea

[14:19] {larisa} lets put in double bottom and bounce from here, please ? :)

[14:19] {magoo} .80 break if holds .75?

[14:19] {Threei}  this pattern of trigger/stop changes only if we make new low

[14:19] {nemo} I'll just put in an order @ 5.00 even

[14:19] {i2romantis} lol

[14:23] {Threei}  if you pay attention instead of joking, you are in at .91 and by now looking to partial out after 6 break

[14:23] {Threei}  half out .03

[14:23] {Threei}  scalpers are scalpers

[14:23] {dawg} scalped it thanks Vad

[14:24] {Threei}  :)

[14:24] {Threei}  to answer this:

[14:24] {Threei}  14:19] {magoo} .80 break if holds .75?

[14:24] {Threei}  no

[14:24] {magoo} i was joking and missed

[14:24] {Threei}  that patter was based on double bottom hunting

[14:25] {Threei}  if we lost .80, that would no longer be a double bottom,

[14:25] {Threei}  thus we would need to wait for new chart formation to appear

[14:26] {i2romantis} how do you come up with .91?

[14:27] {Threei}  were you watching it real time at the moment?

[14:27] {i2romantis} if the lows were in the 80s

[14:27] {i2romantis} yes

[14:27] {Threei}  then notice this pattern:

[14:27] {Threei}  it loses 6,

[14:27] {Threei}  holds 5.95,

[14:27] {Threei}  makes a few moves between them

[14:27] {Threei}  establishing mini-range

[14:28] {Threei}  if breaks 6 while holding 5.95, it becomes a trigger

[14:28] {Threei}  loses .95, makes the same kind of moves between .90 and .95

[14:28] {Threei}  making .96 triggger if holding .90

[14:28] {Threei}  etc

[14:28] {i2romantis} got ya

[14:28] {i2romantis} thx

[14:29] {i2romantis} i presume we are to see if it establishes 3rd bottom or if goes lower

[14:29] {Threei}  yep

[14:31] {Threei}  PALM

[14:31] {Threei}  HEARING SHARES ADDED TO DEUTSCHE BANK SOLAR LIST AS A BUY

[14:31] {Threei}  DRYS

[14:31] {Threei}  HEARING LAZARD MAKING CAUTIOUS COMMENTS; LOWERING ESTIMATES

[14:31] {Threei}  - Firm is lowering their FY EPS estimate to $1.05 from $1.35 despite their revenue estimate increases to $861M from $841M.

[14:32] {nemo} If fas holds, need break of 6.06?

[14:33] {Threei}  as a new trigger?

[14:33] {nemo} yes

[14:33] {Threei}  ummm... a bit too high

[14:33] {Threei}  where do you place a stop if buy up there

[14:34] {Threei}  see if it forms new setup here

[14:34] {Threei}  .85 - .90

[14:34] {Threei}  it still held the low

[14:34] {Threei}  so this kind of setups is still valid

[14:35] {Threei}  US MICHIGAN SENATOR LEVIN (D): AUTOMAKERS SHOULD EXPECT MORE AID, HOWEVER WITH CONDITIONS

[14:35] {Threei}  - Expects Obama auto task force to announce support for additional aid{GM F}

[14:35] {Threei}  retest of the low again

[14:35] {Threei}  not good

[14:35] {nemo} fingernails

[14:36] {Threei}  doesn't look like going to holsd

[14:37] {dino}   rimm filling that gap from fri close

[14:44] {Threei}  isn't it something?

[14:44] {Threei}  Larisa, agree with me now that market does have a reason for such stubborn selling?

[14:44] {Threei}  this is not your garden variety pullback

[14:45] {nemo} 200 point range on the DOW?

[14:45] {vint} by this rate, easily it could hit -200

[14:45] {nemo} lied 260

[14:47] {dino} gaps from friday., 7273, 1187, 768

[14:47] {Threei}  NY FED: DEALERS SUBMIT $23B IN 28 DAY, $37.5B TSLF AUCTION; BID TO COVER RATIO 0.61

[14:50] {Threei}  oullback under .70 is for the next try now

[14:50] {Threei}  same pattern

[14:50] {Threei}  BAC

[14:50] {Threei}  MOODY'S LOWERS SENIOR DEBT RATING TO A2 FROM A1

[14:52] {Threei}  stop under .60 if you got entry

[14:53] {Threei}  if it works, make your choice bwteen scalp and partial

[14:53] {Threei}  my personal is partial as I am trying to secure half and get a bigger move on trend reversal

[14:54] {Threei}  basis is, morning profits are quite enough for me,

[14:54] {Threei}  what I am trying to do here is not to lose and not to just add little scalps

[14:54] {Threei}  but to increase profit significantly or stay basically at the same level

[14:56] {Threei}  half out .76

[14:56] {nemo} what were you in at vad?

[14:56] {Threei}  .66

[14:57] {Threei}  want something closer to 6 for the next part

[14:57] {Threei}  between 5.90 and 6, let's say

[14:57] {Threei}  if trend changed, should be easy

[14:57] {Threei}  if not, what's my risk

[14:57] {Threei}  +.10 on first half, - .07 on second... shrug

[15:00] {Threei}  no go for second part

[15:01] {Threei}  FDIC'S BAIR: TRESURY DEPT'S NON BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'

[15:01] {Threei}  I think markey hates this idea

[15:02] {Threei}  yesterday selling started hitting as they started talking about it

[15:03] {Threei}  GEROGE SOROS: G20 NEEDS TO FIND A SYSTEMIC SOLUTION FOR DEVELOPING ECONOMIES

[15:04] {Threei}  - Calls the April G20 meeting a "make or break" event.{EEM}

[15:04] {Threei}  FDIC'S BAIR: TRESURY DEPT'S NON-BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'

[15:04] {Threei}  - Would make sense on "many levels" if the FDIC were given resolution powers for large non-banks, in close cooperation with Treasury and Fed.

[15:05] {Threei}  is there any area this administration doesn't want to have total authority over?

[15:06] {dino} nope

[15:07] {Threei}  GEORGE SOROS: OBAMA SHOULD PROPOSE USE OF SDR

[15:07] {Threei}  why would USA need that?

[15:08] {nemo} Kettle 1...it would force fiscal discipline

[15:08] {Threei}  whose?

[15:08] {nemo} on the US

[15:08] {Threei}  so, USA wants to install the external enforcements on itself?

[15:09] {Threei}  REPORTEDLY 6,000 UAW WORKERS HAVE AGREEDED TO A BUYOUT, PLANS TO ANNOUNCE DETAILS OF UAW DEAL TOMORROW

[15:09] {Threei}  {F}

[15:09] {nemo} no...I'm sure the US would rather stay the reserve currency

[15:09] {Threei}  that's my point

[15:09] {Threei}  why Geithner says horray to the idea then, and why Soros thinks Obama should propose it?

[15:11] {Threei}  feels to me like trend is about to reverse

[15:13] {nemo} part of the Bildergerg plot,  remember...Obama is the Manchurian Candidate

[15:13] {dino}  lol

[15:20] {dino} qld l .25

[15:22] {Threei}  [15:11] {Threei} feels to me like trend is about to reverse

[15:24] {dino} out qld .37 +.12

[15:27] {dino} out nite .36, +.06

[15:29] {Threei}  WHITE HOUSE PRESS SEC: USD WILL BE GLOBAL RESERVE CURRENCY FOR LONG PERIOD OF TIME

[15:29] {Threei}  finally!

[15:30] {nemo} Hey, know how you can tell when a politician is lying?

[15:30] {Threei}  ok, if you want my take on what happened today:

[15:30] {dino} nite l .40

[15:30] {Threei}  idiot geithner mused about USA liking this idea,

[15:30] {Threei}  market reacted,

[15:30] {Threei}  now Prez spokesman says nah,

[15:30] {Threei}  market reacts.

[15:30] {Threei}  Geithner has to go, IMO

[15:31] {Threei}  damage this guy causes is beyond imagination

[15:31] {cosmo} yeah....put in cramer

[15:31] {dino} cedc l .37

[15:31] {Threei}  of course I am so brave only while larisa isn't here

[15:32] {Threei}  cosmo.. at least that would be funny

[15:33] {patience} geithner is the straw man imo

[15:33] {Threei}  seriously, can you envision all the implications of worlds reserve currency change for US economy?

[15:33] {Threei}  and whole financial system

[15:34] {nemo} austerity doesn't begin to describe it

[15:34] {Threei}  not what I mean

[15:34] {cosmo} hmmm... maybe try Chauncy Gardiner

[15:35] {nemo} I'm sure it woul be phased in over time

[15:35] {Threei}  I mean complexity, depth and breadth of all the issues influenced by this

[15:35] {nemo} How did they introduce that mutt the euro

[15:35] {Threei}  I am pretty sure no one in the whole world comes even close to undderstaning of all the changes involved

[15:35] {nemo} No doubt...things have become so complex

[15:36] {Threei}  and intervened

[15:36] {nemo} Doesn't mean they won't try

[15:36] {Threei}  could be

[15:36] {Threei}  my point is,

[15:36] {Threei}  market reacts on this as a huge unceratinty

[15:36] {Threei}  and we now how markets like uncertainty

[15:42] {Threei}  AIG MOODY'S CUTS RATING TO B2

[15:42] {Threei}  Moody is angry today

[15:42] {magoo} why kick everyone while down 

[15:43] {cosmo} to accumulate the stock

[15:44] {Threei}  lol

[15:45] {Threei}  BAC

[15:45] {Threei}  FIVE PUBLIC PENSION FUNDS FILE SUIT AGAINST BOFA - WSJ

[15:45] {dino} nite stop to .48

[15:46] {vint} short squeeze?

[15:46] {i2romantis} moody is moody today

[15:46] {Threei}  just some recovery vint

[15:46] {Threei}  not much to it

[15:46] {vint} thanks

[15:46] {Threei}  nervous day for both sides

[15:46] {dino} out nite +.08

[15:47] {Threei}  tsk tsk tsk i2r... I restrained myself from that pun

[15:47] {Threei}  but no, you had to do it :)

[15:48] {i2romantis} :)

[15:48] {i2romantis} and FAS was fussy today

[15:48] {dino} out cedc .42, +.05

[15:49] {Threei}  and FAZ?

[15:49] {dino} ipsu bloody

[15:49] {Threei}  {--- scared to ask about QID

[15:49] {i2romantis} works well, no? :)

[15:50] {Threei}  lol

[15:50] {Threei}  sure does

[15:50] {Threei}  funny thing about today was,

[15:50] {Threei}  we tried reluctantly two shorts

[15:50] {Threei}  feeling that it was countertrend trade

[15:50] {Threei}  so we took scalping profits on both

[15:51] {Threei}  and those were actually very promising trades

[15:51] {Threei}  lol

[15:51] {i2romantis} yes

[15:51] {Threei}  oh well

[15:51] {Threei}  I am a trend following trader mostly

[15:51] {Threei}  reversals is not exactly my thing

[15:51] {Threei}  I do nail many of them now and then

[15:52] {Threei}  but I pick the safest ways to do it

[15:52] {Threei}  and tend to take scalps

[15:52] {i2romantis} consistency is what you are good at and I'd love to get there soon :)

[15:52] {i2romantis} still making mistakes here and there

[15:53] {Threei}  as Zvanetsky said...

[15:53] {Threei}  Consistency of resuklts is a sign of professionalism

[15:53] {vint} very well said

[15:53] {i2romantis} lol, the context that he said it with is funny :)

[15:54] {vint} i wish i was anywhere close

[15:54] {Threei}  99% of his jokes are non-translatable

[15:54] {vint} oh that is a big joke

[15:54] {Threei}  no

[15:54] {Threei}  but mostly what he does is stdand-up

[15:55] {Threei}  the simplest ones are possible to translate...

[15:55] {Threei}  lie: He added some potatoe and salt, and put aquarium on the stove

[15:55] {Threei}  lie= like

[15:56] {Threei}  look at FAS

[15:56] {Threei}  sheesh

[15:56] {vint} straight line

[15:56] {Threei}  state of total confusion for both, bears and bulls

[15:56] {i2romantis} out fas at .45

[15:56] {i2romantis} should have waited :)

[15:57] {i2romantis} so, talk about inconsistency, got in at 5.57, left the screen, came back and it's here

[15:57] {Threei}  practically full roundtrip

[15:57] {i2romantis} nice trade, but very inconsistent

[15:57] {i2romantis} that's my issue

[15:57] {i2romantis} gotta work on that

[15:57] {Threei}  about a dollar - on a $6 stock!

[15:57] {i2romantis} yes

[15:58] {dino} crazy

[15:58] {i2romantis} but, i followed the down trend very painfully close, so it's nearly a recovery

[15:58] {dino} cedc in .50,

[15:58] {dino} out .62 +.12

[15:59] {Threei}  STRASBOURG, France  A top European Union politician on Wednesday slammed U.S. plans to spend its way out of recession as "a way to hell."

[15:59] {Threei}  Czech Prime Minister Mirek Topolanek, whose country currently holds the EU presidency, told the European Parliament that President Barack Obama's massive stimulus package and banking bailout "will undermine the stability of the global financial market."

[15:59] {cosmo} marrket likes it

[15:59] {i2romantis} and I hold overnight too often, so I have to get rid of those habits before i switch to laser

[15:59] {vint} CAT + .4

[16:00] {magoo} unreal close imo

[16:00] {Threei}  wtg vint

[16:00] {Threei}  whole day is, mags

[16:00] {Threei}  not overly wide but extermely werid

[16:00] {dino} wow am i beat

[16:00] {magoo} that close in financials was sick

[16:00] {Threei}  thank you all

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

[16:01] {dino} bedlam, thats what it is, with the crazies running the facility

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

[16:01] {i2romantis} cheers to all :)

[16:05] {dino} ctrn