Dec 03 2009

Very nice day with quite a few calls, mostly on a short side. RIMM, AIG, WFC, most of them multiple shorts. Got the end of day selloff right too.

Session Time: Thu Dec 03 00:00:00 2009

[08:10] {Threei} (US) Preview: Initial Jobless Claims and Continuing Claims due out at 8:30amET

[08:10] {Threei} - Expectations for initial claims are 480K v prior release of 466K (range seen from 450K to 500K)

[08:10] {Threei} - Continuing claims seen at 5.400M v prior 5.423M (range seen from 5.350M to 5.550M)

06[08:11] * nemo slaps Threei around a bit with a large trout

[08:11] {Threei} why... oh why

[08:11] {nemo} it's congruent with my image

[08:11] {Threei} ok, that's reasonnable

[08:11] {nemo} ty

[08:11] {Threei} btw, half out NANO

[08:11] {nemo} gfy

[08:12] {Threei} +.45

[08:12] {nemo} You'll be asking to go home early today

[08:12] {Threei} very much so

[08:13] {Threei} offering 13.62

[08:13] {Threei} where are you unknown buyer

[08:13] {Threei} wake up

[08:14] {Threei} put your pants on, see my offer and click that buy

[08:15] {nemo} ag stocks continuing ascent..then again, everything continues

[08:16] {Threei} interesting... WFC is red

[08:16] {nemo} other financials?

[08:16] {Threei} BAC green

[08:16] {nemo} xlf green

[08:16] {nemo} iyf very green

[08:16] {Threei} GS, JPM, MS

[08:17] {Threei} reginals seriously green

[08:17] {Threei} FITB

[08:17] {nemo} ese will be in ecstasy

[08:18] {Threei} WFC seems to be the only one

[08:22] {Threei} NANI is printing above yesterday's high

[08:22] {Threei} NANO too

[08:24] {strider} long BAC 16.15

[08:25] {Threei} 5 min till unemployment numbers strider

[08:26] {strider} thx

[08:28] {strider} out flat

[08:28] {strider} dbl bot. turned into something else.

[08:29] {nemo} triple bottom?

[08:30] {Threei} US) Initial Jobless Claims: 457K v 480Ke; Continuing Claims: 5.465M v 5.400M

[08:30] {Threei} *(US) Q3 FINAL NONFARM PRODUCTIVITY: 8.1% V 8.5%E; UNIT LABOR COSTS: -2.5% V -4.1%E

[08:40] {Threei} did I get too greedy on second half NANO?

[08:41] {nemo} depends on what these volume spikes end up indicating?

[08:47] {BillyD} GM all

[08:47] {Threei} Billy :)

[08:50] {nemo} amzn up another $2

[08:57] {Threei} so, why didn't we all just listen to ese, buy 50K of FITB and sit and wait

[08:57] {strider} yeah, I did that......thought everyone did.

[08:57] {strider} DRYS looks good this morning.

06[08:58] * Threei slaps strider around a bit with a large roll of cash

[08:58] {strider} Well, I see who has a large roll of cash to play recklessly with.

[08:58] {Threei} lol

[08:59] {Threei} well, at least my NANO overnight is a consolation

[09:01] {strider} Deutsche Bank is positive on DryShips' exposure to the drillship charter environment and thinks the company's cash flow potential is being undervalued at current levels. Shares were initiated with a Buy rating and $10 target...

[09:01] {nemo} so sell

[09:01] {Threei} EU) ECB's Trichet: "absolutely no signal" can be inferred on benchmark rate from decision to keep 12 month repo at 1%; notes Bernanke's comments on US with utmost interest

[09:01] {Threei} - Decision on rates was unaimous, decision to phase out measures taken by consensus

[09:01] {Threei} - Looked at all possibilites on repo operations

[09:03] {fernp} Good morning everybody

[09:03] {nemo} that's arguable fern :)

[09:03] {Threei} fern :)

[09:05] {fernp} nemo, the optimist man :)

[09:06] {nemo} hehehehe

[09:06] {nemo} rimm forming a nice range

[09:07] {Threei} SPNC Granted FDA 510(k) clearance VisiSheath

[09:08] {Threei} Spectranetics Corp Granted FDA 510(k) clearance VisiSheath

[09:08] {Threei} - The VisiSheath Dilator Sheath may be used alone as an independent sheath for dilating tissue surrounding cardiac leads, or as an enhanced outer support sheath in conjunction with compatible inner sheaths such as Spectranetics Laser Sheath (SLS II), a laser-based system for removing problematic pacing and defibrillator leads.

[09:08] {Threei} - The newly FDA-cleared VisiSheath Dilator Sheath device will complement the laser-based system as an outer support sheath. Additionally, it will offer a non-laser option to mechanically dilate scar tissue for physicians who do not use laser assistance to manage all of their patients with lead complications.

[09:08] {Threei} let's see ese doing the victory dance

[09:10] {ese} morning

[09:10] {Threei} ese :)

[09:10] {ese} whats happening for this victorya dance

[09:10] {Threei} FITB... DRYS...

[09:11] {Threei} things go up

[09:11] {Threei} your things

[09:11] {nemo} nothing like a momentary power outage

[09:12] {ese} ahhhhhh....well i'm in drys but not fitb

[09:12] {Threei} oh well... half dance?

[09:12] {Threei} I'll do other hakf with NANO

[09:12] {ese} exited kerx yesterday end of day at .06 +.07

[09:14] {Moose} gm all

[09:14] {dino} gm all

[09:14] {Threei} moose, dino :)

[09:14] {ese} moose dino

[09:15] {Threei} East cost storm is coming

[09:15] {Threei} with snow

[09:15] {Threei} coast

[09:15] {dino} not in pa

[09:27] {strider} following AONE today

[09:27] {fernp} ASML nice C&H on daily

[09:27] {Threei} why AONE?

[09:29] {strider} because of long green bar a few days ago, then pull back, then consolidation. Looking at 15 min .chart

[09:29] {strider} may amoaunt to nothing.

[09:30] {strider} amount

[09:31] {nemo} BAC

[09:32] {Threei} Fed tests reverse repo operation

[09:32] {nemo} cat

[09:34] {ese} l cmcsk .86

[09:35] {dino} rino hl l .00

[09:35] {Threei} BAC pace went hysterical

[09:36] {Threei} RIMM, remarkable weakness

[09:36] {nemo} cat strong

[09:36] {Threei} watching for possible short setup

[09:37] {Threei} WFC too

[09:37] {Threei} Short Setup: WFC .45 break

[09:37] {ese} out cmcsk .87 .-01

[09:37] {ese} bad feeling there

[09:37] {fernp} 45?

[09:38] {ese} opps +.01

[09:38] {nemo} weird, market so strong

[09:38] {Threei} day low fern

[09:38] {fernp} i see

[09:38] {Threei} invalidated though

[09:38] {Threei} may reestablish

[09:38] {patience} happy birthday Vaddy :)

[09:39] {Threei} thank you :)

[09:39] {nemo} awwww....congrats old man

[09:39] {dino} rino stop is break of lod

06[09:39] * nemo shouldn't throw stones

[09:39] {fernp} happy birthday, Vad

[09:39] {Threei} thanks guys

[09:39] {dino} happy b-day vad, many more

[09:39] {BillyD} same here Vad

[09:39] {Threei} RIMM got away

[09:39] {lasertrev} gm, happy B day Vad

[09:39] {Threei} ty

[09:40] {nemo} aone

[09:40] {lasertrev} well you live in the right place to get old

[09:40] {Threei} 59.20 break looked too dangerous, could have snapped back sharply in usual morning vilatility

[09:40] {Threei} lol... true

[09:41] {Threei} Preview: Nov ISM Non-Manufacturing Composite due out at 10amET

[09:41] {Threei} **consensus expectation: 51.5e v 50.6 prior (estimates range between 50 and 53)

[09:41] {fernp} GTI, Vad?

[09:42] {Threei} a bit thin but setup is valid

[09:42] {Raven} Happy B-day youngster :)

[09:42] {Threei} thank you, lol

[09:44] {nemo} aone available to short on laser

[09:45] {nemo} nlst

[09:45] {dino} wag hl l .00

[09:47] {Threei} too bad SEED is not available

[09:47] {nemo} yeah, just looking at that

[09:47] {Threei} you got 1:1 GTI fern

[09:47] {fernp} yes

[09:47] {Threei} I already prepared SEED short call on .60 break earlier

[09:47] {Threei} then tested it

[09:49] {strider} long HUN .10, buyout chatter

[09:49] {strider} takeover

[09:50] {fernp} STP interesting for breakout

[09:50] {Threei} Long Setup: CREE .15 half lot

[09:50] {Threei} if stays above 52

[09:51] {dino} rimm gap around 58, from monday

[09:51] {Threei} Short Setup: RIMM .80

[09:52] {ese} cree invalid

[09:52] {ese} pulled my buy

[09:52] {strider} stop rimm?

[09:52] {dino} rino stopped -.30

[09:53] {Threei} .95 or 59

[09:53] {strider} in, half lot

[09:54] {Threei} not a scalp if works

[09:54] {fernp} triggered?

[09:54] {Threei} not yet

[09:54] {Threei} but should

[09:54] {Threei} and has nice potential

[09:55] {strider} toudched .80

[09:55] {strider} that was trigger.

[09:55] {Threei} die RIMM

[09:57] {Threei} White House: Unemployment data tomorrow may tick upward

[09:57] {Threei} - Note: Oct Unemployment rate stood at 10.2%, with current estimates for Nov unemployment at 10.2%

[09:58] {strider} only took +.07 on HUN, back exit.

[09:59] {strider} bad

[09:59] {Threei} bidding half .61

[09:59] {fernp} .62 here

[10:00] {ese} L gern .04

[10:00] {Threei} US) NOV ISM NON-MANUFACTURING COMPOSITE: 48.7 V 51.5E

[10:00] {strider} out +.15

[10:00] {dino} gj

[10:00] {strider} only meant to do 1/2....didn't change volume. :)

[10:01] {fernp} out TY

[10:01] {Threei} welcome

[10:01] {Threei} my turn

[10:01] {Threei} covered half

[10:01] {Threei} bidding 1/4 .45

[10:01] {BillyD} nice one Vad, ty

[10:01] {Threei} if I am too greedy, so be it

[10:01] {Threei} billy :)

[10:02] {dino} otex

[10:02] {fernp} DRYS db, Vad?

[10:03] {Threei} .45 break, yes

[10:03] {Threei} come on RIMM

[10:03] {Threei} you can do better

[10:04] {dino} s/p gap fill, dji too

[10:04] {Threei} make me proud of that blackberry

[10:04] {Threei} which grows all over thr place here

[10:05] {Threei} nice chart fern

[10:05] {Threei} let's make it official

[10:05] {Threei} Long Setup: DRYS .45 break if stays above .40

[10:05] {Threei} look how RIMM held trailing stop so far

[10:05] {Threei} 1 cent precision

[10:06] {Threei} amazes me when they do that

[10:07] {Threei} well, either double bottom or continuation for me

[10:07] {nemo} DE vad, weird

[10:08] {dino} rino last try hl l .50

[10:08] {Threei} .35 break DE...

[10:08] {Threei} probabkly worth a try

[10:09] {strider} stop bellow .30?

[10:09] {Threei} or .25

[10:09] {Threei} personal choice

[10:10] {Threei} okay RIMM

[10:10] {Threei} breakeven on second half

[10:10] {dino} out rino .80, +.30

[10:11] {Threei} dump DRYS

[10:11] {Threei} market tripped of something

[10:12] {Threei} lol RIMM

[10:12] {fernp} dumped

[10:12] {Threei} NOW you drop?

[10:12] {Threei} in one swoop, right into my second intended partial zone

[10:13] {Threei} sneaky bastard

[10:14] {strider} DRYS still valid?

[10:14] {Threei} I doubt it

[10:15] {dino} otex hl s .50

[10:15] {dino} .49

[10:15] {Threei} RIMM{ this is where I would be covering last part

[10:15] {Threei} for a sweet 50 cents

[10:16] {dino} going for that gap imo

[10:16] {strider} persistent buyer at.30, DE

[10:16] {dino} otex bstop is .81 fwiw

[10:20] {nemo} this is wild in DE

[10:21] {strider} I think ese's accumulating.

[10:22] {Threei} (US) Fed's Bernake: Exit strategy will support jobs and price stability, must be ready to withdraw stimulus in a timely manner

[10:22] {Threei} - Must take care that Fed remains independent and effective. Fed is committed to accountability and transparency.

[10:22] {Threei} - The exemption of monetary policy from audits was created to avoid political pressure.

[10:22] {Threei} - Believes joblessness may stay high even while growth improves.

[10:22] {Threei} - Most indicators suggest that financial markets are improving.

[10:22] {Threei} - Fed was greatly aided by regional structure in dealing with crisis.

[10:23] {dino} cov otex .22, +.27

[10:23] {fernp} I am not in DE, still good moment to enter, Vad?

[10:23] {ese} ese is

[10:24] {Threei} too narrow for my taste fern

[10:24] {fernp} ty

[10:25] {dino} kss

[10:25] {Threei} Short Setup: RIMM .50 break

[10:25] {Threei} oops

[10:25] {Threei} too fast

[10:25] {dino} hl l .90

[10:25] {dino} kss

[10:25] {ese} who ever this ese guys is st....i know he added some more drys yesterday at .25 shhhhhhhhhhhhh

[10:26] {dino} stop is .59

[10:26] {fernp} stop .61?

[10:26] {Threei} if sets up again, yes

[10:26] {nemo} frickin' de water torture

[10:30] {Threei} US) White House Press Sec Gibbs: Under many options being discussed, looking at using TARP funds for a jobs bill

[10:30] {Threei} what, they intend to start new companies with those funds?

[10:31] {ese} gern is either gonna give it a go here or bite the big one

[10:31] {Threei} idiots... goverment cannot create additional jobs by definition

[10:31] {Threei} how hard is it to understand?

[10:32] {strider} stop on RIMM vad?

[10:32] {Threei} above .60

[10:33] {Threei} wow... amazing sunrise out of my window

[10:33] {dino} tax cuts create jobs, idiots

[10:33] {dino} must be your b-day

[10:34] {Threei} how did you guess

[10:34] {nemo} DE should be getting stops run soon

[10:35] {Threei} Fed's Bernanke: Removing Fed from bank supervisory role would be a mistake due to its 'unique' expertise - Q

[10:35] {nemo} yeah, sophisticated raping and pillaging

[10:35] {Threei} no doubt... unique expertise in debasing the currency, conducing inflation and transferring wealth from individuals

[10:36] {Threei} almost 100 years in training

[10:36] {Threei} 1:1 RIMM

[10:36] {fernp} ty

[10:36] {nemo} wow the phantom buyer at .30 on DE again

[10:37] {Threei} {Phantom Buyer} yes, that's me... finished with opera, decided to try myself at this trading thingy...

[10:37] {Threei} RMBS Hearing strength being attributed to rumor ECB could make an announcement today on royalty rates for DRAM controllers (19.61, +1.02, 5.49%)

[10:37] {BillyD} ty RIMM again

[10:37] {Threei} welcome

[10:37] {BillyD} now die GERN

[10:37] {strider} out RIMM, thx

[10:38] {Threei} {fern} I used to hate RIMM

[10:38] {fernp} out RIMM flat, I was stopped one time and 1:1 in this occasion :-)

[10:38] {strider} stopped DE,,,, good riddance.

[10:38] {fernp} i still hate it

[10:38] {Threei} lol

[10:40] {strider} WFC dying

[10:40] {strider} good...maybe they won't want my mortgage payment this month.

[10:40] {fernp} i was watching PFG for a breaout, and suddenly it started to drop, drop and drop... and still is dropping. I don't see any news

[10:41] {strider} : Lincoln National, Prudential tick lower following Principal Financial's outlook :theflyonthewall.com

[10:42] {fernp} i am happy not to have entered...

[10:42] {dino} pfg guidance for 2010

[10:42] {fernp} ty guys

[10:43] {Threei} strider, re: mortgage payment... one of famous russian sayings in loose translation:

[10:43] {Threei} Blessed be the believer

[10:43] {strider} long WFC .43, stop lod

[10:43] {nemo} mon collapsed

[10:44] {dino} 80.80 gap on it

[10:44] {Threei} better yet:

[10:44] {Threei} Blessed be a Believer for it is warm for him on Earth

[10:45] {nemo} and in hell

[10:45] {strider} out WFC +.10

[10:45] {dino} apol hl l .11

[10:45] {Threei} ok, now that strider is out, let's look for short entry

[10:45] {dino} stop .83

[10:46] {strider} thank you.

[10:46] {Threei} :)

[10:46] {strider} I purshate that

[10:46] {Threei} on serious note, if it comes to .60 I would start looking

[10:46] {ese} billy ...your short Gern? I'm long...... looks like we got some GERN warfare going on yuk yuk yuk

[10:46] {BillyD} yes short

[10:47] {BillyD} my stop is 6

[10:47] {BillyD} trying for fills at .01, no go

[10:47] {ese} l .04

[10:48] {strider} gern warfare...omg

[10:48] {BillyD} GERn becomes hateable again

[10:48] {Threei} USD/CAD CAD weakness partially attributed to chatter of a bearish think-tank report

[10:48] {Threei} god bless that think tank

[10:48] {dino} nke hl l .99, stop lod

[10:48] {Threei} BAC Fed's Bernanke comments that its a "good thing" that BoA is paying back the TARP; notes most of the problems during the financial crisis were outside of the bank holding companie

[10:49] {fernp} WFC

[10:49] {nemo} 1/2 out de

[10:49] {Threei} ok, next resistance is .70,

[10:49] {ese} i thought it was witty S

[10:49] {ese} ST

[10:49] {nemo} out other half +.15

[10:49] {Threei} so what we want for short is

[10:49] {BillyD} out gern, gl ese

[10:49] {Threei} couple moves between .60 and .70,

[10:49] {ese} tks

[10:49] {Threei} not going over .70 and losing .60 for a trigger

[10:50] {Threei} CNBC reports White House's Gibbs says it is incorrect to state that it expects unemployment to rise tomorrow

[10:50] {Threei} - CNBC reports the White House has not seen the numbers in advance

[10:50] {fernp} valid now?

[10:51] {dino} like a bunch of school kids, he said she said

[10:51] {Threei} hard to tell fern...

[10:51] {Threei} I'd prefer a bit more pronounced staying above .60 prior to break

[10:51] {Threei} this is unclear

[10:51] {fernp} let's wait a bit more

[10:55] {dino} out ksszoll drop

[10:55] {Threei} wow... DE worked finally for you guys

[10:55] {nemo} yeah

[10:55] {dino} kss was at .10, +.20

[10:55] {Threei} wtg

[10:55] {strider} grumble..grumble..

[10:55] {nemo} got .15, but the water drops drilled a divot in my forehead

[10:55] {dino} zoll

[10:55] {nemo} bow to zoll

[10:55] {dino} thinny

[10:55] {Moose} lol

[10:55] {Threei} oh boy... nemo...

[10:56] {nemo} what

[10:56] {nemo} ?

[10:56] {Threei} takes all my strength to keep all the jokes that provoked

[10:56] {nemo} which line?

[10:56] {strider} CXM

[10:56] {Threei} water drops and forehead

[10:56] {nemo} oh go ahead

[10:56] {Threei} nah, too easy

[10:57] {nemo} c'mon

[10:57] {nemo} rimm C&H maybe, looking for volume confirmation above .90

[10:58] {BillyD} SOMX for short oof .60

[10:59] {strider} WFC now c&h

[10:59] {Threei} yes, don't see it as a short anymore

[10:59] {ese} L gern .99 avg .01

[11:01] {dino} gme hl l .74

[11:03] {dino} stop is .47

[11:04] {nemo} w low of .66 how do you get .47 dino?

[11:05] {fernp} DRYS wouldn't have worked. That's is a good call too, Vad :-)

[11:05] {dino} my usual of .25-.35

[11:05] {Threei} yeah, sometimes they just don't give out right vibe

[11:06] {Threei} generally I hate to intrude into natural process and use discretion in what should be decided by market

[11:06] {dino} plus nemo, hl, so stop is automatically wider. fl would be lod

[11:06] {Threei} this was one of rare exceptions

[11:06] {nemo} ty dino

[11:06] {fernp} yeah, this time worked fine :)

[11:06] {dino} np buddy

[11:08] {ese} gern you turd.....how dare you fill someones 100k order over making me a small profit....what kinda business is this anyway

[11:08] {dino} trickery

[11:08] {ese} still L .01

[11:08] {nemo} damn speculators

[11:09] {ese} ya ehhhh!

[11:10] {dino} fslr moving

[11:10] {Threei} BAC To reportedly sell common equivalent shares later today due to strong interest

[11:10] {Threei} hmmm

[11:10] {Threei} short at will?

[11:10] {ese} that thing trades with huge spreads dino......crazy

[11:10] {nemo} common equivalent...wtf is that?

[11:10] {Threei} Fed's Bernanke: Fed will not monetize the debt; US cannot continue to run high deficits; will maintain strong commitment to price stability; thinking a lot about exit strategy

[11:10] {Threei} - says US deficit needs to be in 2-3% of GDP range over time

[11:10] {Threei} - notes that the Fed may not be able to halt the increse in real interest rates if the deficits remain high; debt to GDP ratio cannot move higher indefinitely and must come down

[11:10] {Threei} - claims that some deficits are not permanent, but others may become so if entitlement spending is not addressed

[11:10] {nemo} yeah, ese, dino's kinda' stock

[11:11] {ese} i like the wft.......very appropriate here

[11:12] {fernp} ME 38 break, Vad?

[11:12] {nemo} what stock fern?

[11:12] {dino} what stock?

[11:12] {fernp} MEE

[11:13] {nemo} oooohhhhhhhhh

[11:13] {fernp} sorry

[11:13] {Threei} yeah

[11:13] {nemo} de nada

[11:13] {Threei} a bit thin

[11:13] {dino} pfg getting interesting

[11:14] {fernp} stop below .89, no?

[11:15] {Threei} yes

[11:15] {fernp} out

[11:15] {dino} mee court case or something

[11:17] {Threei} US House Speaker Pelosi: Unused TARP capital will be used to pay for job package

[11:17] {Threei} - Note: This option was hinted to earlier as among the options for TARP monies

[11:17] {Threei} what job package...

[11:17] {Moose} geeze

[11:17] {Moose} :/

[11:18] {dino} the ones at gm, lol

[11:19] {Threei} this gang won't quit until they destroy everything there is to destroy

[11:19] {ese} dino or anyone.....do you think rimm is gonna cover that gap down to 49

[11:19] {BillyD} needs to break 55 first imo ese

[11:20] {ese} for sure

[11:20] {BillyD} then I could tell for SURE.....lol

[11:20] {BillyD} I wish

[11:20] {ese} lol yup

[11:21] {dino} yes, by march

[11:21] {ese} hmmmmm ok i'll bite.......why then

[11:21] {fernp} WFC interesting if losses .40

[11:22] {nemo} cat could be shaping up short here

[11:22] {dino} imo, the economy sucksv right now. they are cheering 490k job losses? remember when we used to add jobs and cheer, not lose and cheer. who can buy anything. but this is just what i see

[11:23] {dino} poconos is tight

[11:23] {ese} better reason than i have........

[11:24] {dino} what is yours?

[11:24] {dino} i suppose it could be as simple as why not?

[11:25] {ese} well maybe not better different........

[11:25] {ese} will type it out

[11:26] {ese} i kinda see this as a different industrial revolution for you all.......instead of it being about machines.....it's about intelectual property and high tech....

[11:26] {ese} work force has to shift....meaning re education

[11:26] {Threei} (IS) Bank of Israel's Fischer: For a prosperous global recovery the USD must weaken (related USD/ILS )

[11:27] {Threei} hmmm... the rest of the world think otherwise, Fischer

[11:27] {ese} those same jobs that have been lost ain't in my opionion coming back

[11:28] {ese} but thats doesn't mean your economy is going to suffer......which it looks like it is not.......jobs arne' there for sure but companies are being profitable

[11:29] {ese} theses a shift going on..........imo.......

[11:29] {Threei} what to do with millins who have no job anymore?

[11:29] {Threei} millions

[11:29] {dino} no jpbs=mtg defaults=welfare increases=higher taxes=,=,=. but what will people do. govt(democrats) wants perpetual handouts. i am a supply-sider. cut taxes and get out of the way

[11:29] {Threei} they have to eat

[11:30] {Threei} they lose homes

[11:30] {fernp} WFC breakingdown

[11:30] {ese} Andy Kesslers book...Rinning With The Bulls....is very detailed on this topic and so far what he's predicted is coming to fruition

[11:30] {Threei} their spending used to support a lot of businesses

[11:31] {ese} can't do anything with them vad.....they have to re educate themselves

[11:31] {ese} you can try and support them until they do

[11:31] {BillyD} out 1/2 somx +.08

[11:31] {dino} there is a shift, but our clowns don't get it. they want people depending on the govt. that way they keep there jobs. even this last election was won that way, the cities (lots of welfare) voted obama, everywhere else was mccain

[11:32] {Threei} reeducate to do what? no field is hiring

[11:32] {Threei} and there is a reasonable age limit to total change of profession

[11:32] {nemo} this whole decade was driven by debt

[11:32] {dino} so is atlas shrugged ese. at some point the destroyer will start showing up.

[11:32] {nemo} 2012

[11:32] {Moose} { John Gault

[11:33] {ese} well........we made it through the industrial revolution......something similar should happen here......what that is i don't know

[11:33] {dino} indeed moose

[11:33] {nemo} that was a huge boost in productivity ese

[11:33] {nemo} What's always interested me is cycles.

[11:33] {nemo} You cannot expand and grow forever

[11:33] {ese} this is one for sure

[11:33] {dino} same thing happened in 70s. taxes too high, wealthy stopped. until reagan came along and get them excited about making money again

[11:34] {ese} cycle that is

[11:34] {nemo} 70's was because of Vietnam and gold default

[11:34] {nemo} huge debt and shift completely to fiat

[11:34] {dino} all the dems talk about is hitting the rich. the rich will walk away. be careful for what you wish

[11:35] {dino} fact is lower taxes increases tax receipts

[11:35] {nemo} jeez dino...remember when I mentioned mon collapse...look at it now...oops

[11:36] {fernp} out WFC +.10

[11:36] {Threei} good one fern

[11:36] {dino} ok, back to work

[11:36] {dino} gj fern

[11:37] {fernp} i'm flat for the day Vad. I need one of your super calls and I will sing for you happy birthday lol

[11:38] {Threei} then I have to ask: do you sing well?

[11:38] {fernp} nope

[11:38] {Threei} because if you sing like I do, I better don't hear that {G}

[11:38] {Threei} wow

[11:38] {Threei} what just happened

[11:39] {Threei} Short Setup: RIMM 59 break

[11:39] {dino} nke stopped -.31

[11:40] {Threei} stop above .15

[11:40] {Threei} for hard core scalpers .10

[11:42] {nemo} rimm runs into the 200 ma around .15

[11:42] {BillyD} My entries are too early today

[11:44] {nemo} fcx might be a short if it holds under .70

[11:44] {BillyD} out rest SOMX up tp +.11

[11:45] {nemo} I mean mon

[11:45] {dino} gj

[11:45] {BillyD} ty

[11:45] {dino} my exits are late, had .20 in nke, rino, and wag, didn't take them

[11:45] {Threei} RIMM is likely to trigger now

[11:45] {Threei} won't be a scalp for me

[11:46] {ese} s rimm .00

[11:46] {Threei} still holding support...

[11:46] {Threei} why not wait for break

[11:47] {ese} yup

[11:47] {ese} agressive entry

[11:47] {BillyD} yeah, it got me earlier with early entry

[11:47] {Threei} aggressive entry closer to resistance (in case of short) gives you tighter stop and better profit potential

[11:48] {ese} ya am thinking that right now

[11:48] {Threei} entry right near the trigger doesn't... while carries the shortcomings of aggressive entry,

[11:48] {BillyD} we missed SQNM

[11:48] {Threei} i.e., less odds of working

[11:48] {Threei} ugh

[11:49] {ese} am totally agreeing with you

[11:49] {Threei} Fed Chairman Bernanke: It is imperative that Congress develope a solution to the "too big to fail" issue

[11:49] {Threei} what solution... apply anti-monopoly law, let them fail

[11:50] {Threei} Fed extended support to companies extremely reluctantly.

[11:50] {Threei} - GSEs are particular problems that must be addressed.

[11:50] {Threei} - TARP has served its purpose, now needs to be unwound.

[11:50] {Threei} - Sees TARP breakeven to in the red on payouts to financial companies.

[11:50] {ese} was watching qqqq's and it looked like a breakdown there and so i went with it

[11:51] {nemo} I gotta frickin' go and RIMM looks like it's going to trigger

[11:52] {ese} buggar it covered.99 +.01

[11:53] {ese} too damn quick

[11:53] {dino} trgt strange, signs deal and drops

[11:54] {nemo} c u guys tomorrow.. P&Q

[11:54] {Threei} take care nemo

[11:54] {Moose} cya nemo

[11:54] {fernp} bye nemo

[11:54] {ese} cya nemo

[11:54] {dino} cya nemo

[11:55] {strider} see ya

[11:57] {Threei} can't believe we forgot about SQNM

[11:58] {BillyD} yeah

[11:58] {dino} trgt sm l .23

[12:00] {strider} ah, the dino setup...trgt

[12:00] {Threei} Short Setup: AIG .50 if stays below .60

[12:03] {dino} lol

[12:04] {dino} esi drop

[12:04] {Threei} wow... who remembers RIMM this narrow for this long

[12:04] {BillyD} not me

[12:05] {BillyD} stubborn here

[12:05] {Threei} HGSI Today's strength partly attributed to a Bernstein note speculating that Amgen might be interested in HGSI acquisition (28.81, +1.35, 4.92%) (related AMGN GSK )

[12:05] {strider} I'm out RIMM avg. +.04, from entry at .07

[12:05] {strider} gotta go soon.

[12:06] {Threei} what's with everyone leaving early

[12:06] {Threei} wait, don't answer

[12:06] {Threei} let me think you all go celebrate my birthday

[12:06] {dino} trgt to .63

[12:06] {strider} I'm closing down a business right now...should have it wrapped up in a week. Then I'm all yours, vad.

[12:07] {fernp} AIG invalidated? printed .63

[12:07] {Threei} now tell me, you are blonde, female, 6.1, etc

[12:07] {Threei} yeah

[12:07] {strider} how'd you know.?

[12:07] {Threei} wishful thinking

[12:07] {strider} the 6'1" is right.

[12:07] {Threei} lol

[12:08] {fernp} Vad!! your boots, please

[12:08] {Threei} they are yours

[12:08] {Threei} use them as you please

[12:08] {dino} trgt to .73

[12:10] {strider} See y'll tomorrow.

[12:10] {Threei} take care strider

[12:10] {fernp} bye strider

[12:12] {fernp} if RIMM is acting this slow way, what should be doing FITB?

[12:12] {dino} cya stride

[12:12] {dino} trgt to .83

[12:12] {Threei} FITB should trade in .000001

[12:12] {fernp} lol

[12:14] {dino} out .83 trgt, +.60

[12:14] {Threei} wtg

[12:14] {dino} ty

[12:15] {Threei} RIMM 1:1

[12:15] {Threei} believe it or not

[12:16] {Threei} covering half

[12:16] {Threei} +.15

[12:16] {BillyD} out but don't understand your 1:1 math

[12:16] {Threei} scalpers be happy

[12:16] {Threei} hmm?

[12:16] {BillyD} stop was .15 right

[12:16] {Threei} it's not even math

[12:16] {BillyD} so around .85

[12:17] {Threei} .10 for scalopers

[12:17] {Threei} .15 for day traders

[12:17] {BillyD} sorry, didn't see that part of call

[12:17] {Threei} 11:40] {Alert} Threei stop above .15

[12:17] {Threei} [11:40] {Alert} Threei for hard core scalpers .10

[12:18] {BillyD} giving you a hard on on your birthday just isn't right

[12:18] {Threei} it's rather calculus than algebra {G}

[12:18] {BillyD} BTW, TY for RIMM

[12:18] {Threei} there... I bite right back

[12:18] {Threei} welcome, lol

[12:18] {BillyD} lol

[12:19] {dino} mflx

[12:19] {dino} should've held trgt

[12:21] {Threei} AIG doesn't go up with market

[12:21] {Threei} let's see if it re-validates

[12:22] {Threei} I think it is

[12:22] {Threei} either same setup, or just .65 stop

[12:22] {Threei} personal choice

[12:24] {Threei} how about one of your famous drops AIG

[12:25] {fernp} .50 break w/stop above .65 is the play, no?

[12:25] {Threei} .60 or .65

[12:25] {Threei} [12:22] {Threei} personal choice

[12:31] {fernp} PAYX 32.10 breakdown? or too many short plays for lunch time?

[12:31] {Threei} why not

[12:32] {Threei} if market drops, PAYX looks good

[12:32] {Threei} a bit narrow, but stop is small

[12:32] {fernp} 5 cents stop

[12:32] {Threei} yup

[12:40] {Threei} oh well

[12:40] {fernp} out

[12:40] {Threei} not this time

[12:41] {dino} rino nears lod

[12:42] {Threei} (US) House Speaker Pelosi: Tax on financial transactions (Tobin Tax) has a great deal of merit

[12:42] {Threei} ***Reminder: Back on 11/24 thehill.com reported that House Democrats were drafting a 0.25% tax on all financial transactions, aiming to raise $150B/year.

[12:43] {dino} it will put me out of business i fear

[12:44] {patience} come trade on the tsx dino

[12:44] {dino} have to change to low priced or options

[12:44] {Threei} you and whole financial industry

[12:45] {dino} i may have too patience. these politicians will move the center of the financial world on this idea

[12:45] {Threei} they insist on the whole world doing that dino

[12:46] {dino} then tsx will not help me

[12:46] {Threei} danger to lose exchanges was the first thought when they started talking about it

[12:46] {Threei} so they stated it's a possibility if everyone does it

[12:46] {Threei} so expect attempt to push europe and canada

[12:46] {Threei} europe is not much of a resiastance

[12:47] {Threei} they are open to this idea

[12:47] {patience} can't see canada approving vad....too conservative a country to do this

[12:47] {dino} the politics of envy. you have it, i want it but don't know how to get it, so i'll destroy it

[12:47] {Threei} then it won't be implemented - unless USA lost its mind completely

[12:48] {Threei} and if it will, Canada will become financial center of the wetsern world in a flash

[12:48] {dino} let's hope it doesn't pass

[12:49] {Threei} I can see listings and brokerages moving to Canada within months

[12:50] {dino} of course, only the bad mgt would list in canada

[12:50] {dino} would not

[12:50] {dino} so the nyse would have, c, gm, and aig left

[12:51] {dino} hmmm, thought i'd get a laugh out of that, the govt owns them

[12:51] {Threei} you would if not for AIG

[12:52] {Threei} AIG we need

[12:52] {Threei} FRE and FNM they can have

[12:52] {dino} next will be you cannot leave your job if you have one

[12:53] {dino} because we need the taxes

[12:53] {Threei} why not... not working was illegal in USSR

[12:53] {Threei} you would go to jail for not working

[12:54] {Threei} remember the poet Brodsky?

[12:54] {dino} no

[12:55] {Threei} famous poet, Nobel prize

[12:55] {Threei} Soviet originally, moved to US

[12:56] {Threei} he was actually sent to prison for not having any offial line of work

[12:56] {dino} atlas shrugged

[12:56] {fernp} not working was illegal? how was that possible? incredible

[12:57] {Threei} USSR was incredible

[12:58] {Threei} http://en.wikipedia.org/wiki/Joseph_Brodsky

[12:58] {Threei} In 1963, he was arrested and in 1964 charged with parasitism by the Soviet authorities. A famous excerpt from the transcript of his trial made by journalist Frida Vigdorova was smuggled to the West:

[12:58] {Threei} Judge: And what is your profession, in general?

[12:58] {Threei} Brodsky: I am a poet and a literary translator.

[12:58] {Threei} Judge: Who recognizes you as a poet? Who enrolled you in the ranks of poets?

[12:58] {Threei} Brodsky: No one. Who enrolled me in the ranks of humankind?

[12:58] {Threei} Judge: Did you study this?

[12:58] {Threei} Brodsky: This?

[12:58] {Threei} Judge: How to become a poet. You did not even try to finish high school where they prepare, where they teach?

[12:58] {Threei} Brodsky: I didnt think you could get this from school.

[12:58] {Threei} Judge: How then?

[12:58] {Threei} Brodsky: I think that it ... comes from God.[

[12:59] {Threei} For his "parasitism" Brodsky was sentenced to five years of internal exile with obligatory engagement in physical work and served 18 months in the Archangelsk region. His sentence was commuted in 1965 after protests by prominent Soviet and foreign literary figures

[13:04] {Threei} PAYX is a water torture stock fern

[13:04] {BillyD} it seems to be theme for most of day vad

[13:05] {fernp} I missed the entry... I guess I was looking at other thing

[13:05] {Threei} 1:1 meanwhile...

[13:06] {nemo} back

[13:06] {nemo} awiav

[13:07] {Threei} PAYX

[13:07] {Threei} over actually

[13:07] {Threei} just wanted to tease you with the play you missed

[13:07] {nemo} great

[13:12] {fernp} FAS is breaking down

[13:18] {Threei} I am tempted to call FAZ long

[13:18] {Threei} but honestly, it's 50/50

[13:19] {fernp} call it

[13:19] {fernp} pullback with low vol

[13:20] {BillyD} Vad, what % of working do you consider it worht taking vs say a 50/50

[13:21] {Threei} Fed's Beranke: Unclear what impact, if any, ending the asset purchase program will have on mortgage rates; prepared to review the MBS purchase program (related TLT SHY EUR/USD GBP/USD USD/JPY XLF XHB )

[13:21] {Threei} well, I don't have any scientific way to define the %

[13:21] {Threei} when I say 50/50, I simply mean I have no way to tell whether one direction is more likely than the other

[13:21] {BillyD} ok

[13:22] {Threei} well, .65 is break fern

[13:25] {nemo} hig at low

[13:26] {Threei} very hard to tell gut feel from acid reflux today

[13:26] {dino} have some cheese cake vad

[13:26] {dino} 'thats what i have on my b-day

[13:26] {Threei} single malt appeals to me more

[13:27] {dino} lol

[13:27] {BillyD} how about some trout

[13:27] {Threei} with single malt??

[13:27] {Threei} that's a perversion

[13:27] {BillyD} hint: slap

[13:28] {Threei} I know... I just hope pretending I don't inderdtand will save me

[13:28] {BillyD} lol

[13:28] {dino} sm l esi .91

[13:29] {BillyD} AIG now falls

[13:30] {dino} med

[13:31] {fernp} please, sell 1000000 shares of FAS Vad

[13:34] {BillyD} mau try AIG if loses .40 and holds .50

[13:34] {BillyD} may

[13:38] {fernp} no go FAZ

[13:51] {Threei} whole fight today occures within 15 points NQ

[13:52] {Threei} amazed we found what did

[13:52] {fernp} VSEA if breaks 33 ...

[13:52] {nemo} actually, some of the large caps have taken beatings

[13:52] {nemo} relatively

[13:52] {nemo} look at pru mon range on fcx tck

[13:52] {Threei} guess who is on TV

[13:53] {nemo} Shalom Harlow

[13:53] {Threei} good to see the pause... you are running out of names

[13:53] {dino} melissa joan hart

[13:53] {Threei} and you dino - you wish

[13:53] {nemo} no, I was waiting on intuitive inspiration

[13:53] {Threei} oh

[13:53] {Threei} that's acid reflux

[13:54] {nemo} look at v

[13:54] {Threei} I better look at melissa joan hart

[13:55] {nemo} she won't make you money

[13:57] {fernp} INTC trying to break 20

[13:59] {Threei} what's with VVUS today...

[13:59] {dino} :)\

[14:00] {Threei} US VP Biden: White House considering tax incentives among options for job creation - jobs summit

[14:00] {Threei} - highlights that the White House itself is limited when it come to creating jobs

[14:00] {Threei} wow

[14:00] {Threei} do I hear common sense coming from WH???

[14:01] {Threei} - Follow Up: US Pres Obama comments that is open to any idea to help job creation; curious to speak to leaders to determine what is holding back business investment

[14:01] {nemo} I thought he was smart

[14:02] {Threei} I can stisfy his curiousity

[14:03] {Threei} constant threat of new and new taxes from each and every direction: carbon tax, income tax, war tax, tobin tax, health premiums

[14:03] {Threei} what sane businessman would expand hearing that even at best of times?

[14:03] {nemo} so many of current workforce are relatively part-time

[14:05] {Threei} add union cards

[14:05] {Threei} and general unfriendly to business mindset being propagated

[14:05] {Threei} and you havw business hunkering down

[14:06] {fernp} out INTC +.05 and VSEA +.09. almost flat again. I still need your super call Vad

[14:06] {Threei} I dilligently look at each symbol spit by scanner

[14:08] {fernp} it's your b-day. Rest a bit and take pics

[14:10] {Threei} Fed's Bernanke: Planning "rolling exit process," wherein asset buys taper off and ending with policy tightening

[14:10] {Threei} if ben wanted to be of any use, he would add: tomorrow

[14:10] {Threei} we would have shorted everything

[14:10] {Threei} and got stinkin' rich today

[14:11] {Threei} instead he says:

[14:11] {Threei} - Communication and timing of exit strategy are difficult

[14:11] {ilana} RIMMpossible .02 break, if stays in the current range?

[14:12] {Threei} RIMM has total "short me" look

[14:12] {Threei} .10 closest resistance

[14:12] {ilana} yup, forgot to mention short

[14:18] {nemo} lucky I got that .15 out of DE.

[14:18] {Threei} look at AIG

[14:18] {BillyD} yeah

[14:18] {BillyD} had right direction

[14:18] {dino} gme stopped

[14:19] {dino} -.27

[14:20] {Threei} does it feel like eod will bring real selloff to ayone?

[14:20] {Threei} RIMM 1:1

[14:20] {Threei} good spot ilana

[14:21] {fernp} out RIMM. ty ilana / Vad

[14:21] {Threei} {fern} I don't hate RIMM anymore

[14:21] {Threei} {fern} RIMM, will you ever forgive me

[14:21] {fernp} well, but I hate AIG

[14:21] {Threei} lol

[14:21] {Threei} you just love to hate something

[14:21] {nemo} hah, frickin DE

[14:21] {fernp} i need it

[14:22] {Threei} RIMM{ 4 short plays today

[14:22] {Threei} all 4 worked

[14:23] {fernp} yes, that's true, but today RIMM is moving slower than usual

[14:23] {fernp} i find easier to trade it

[14:23] {Threei} yes... everything is though

[14:29] {nemo} aig short under 30.00

[14:29] {Threei} most likely, yes

[14:29] {nemo} big order at that level

[14:29] {Threei} and I do feel seloff coming

[14:30] {nemo} although, we have DB volume here

[14:30] {Threei} gbreat

[14:30] {nemo} rimm at important level too

[14:30] {Threei} third attemot if successful will have good chance of working

[14:32] {nemo} there was an order for 230 lots at 30

[14:34] {fernp} WFC 27

[14:35] {Threei} Short Setup: AIG 30 break

[14:39] {nemo} out rimm .65

[14:39] {Threei} from where?

[14:39] {nemo} .79

[14:40] {nemo} Ahhh fern's regret

[14:40] {fernp} good one nemo

[14:40] {nemo} lucky

[14:40] {nemo} I'm not flowing this week

[14:40] {Threei} RIMM Hearing OTR Global Research making cautious comments (timing uncertain) (58.62, -1.19, -1.99%)

[14:40] {nemo} need to do a mushroom trip

[14:40] {nemo} not

[14:41] {nemo} now I really have to go. definite not till tomorrow . gnite all

[14:41] {fernp} bye nemo

[14:41] {BillyD} cya nemo

[14:41] {Threei} - firm is saying that RIMM is being forced to cut 20% access fees to carriers.

[14:42] {Threei} well AIG

[14:42] {Threei} are you game this time?

[14:42] {Threei} {AIG} I so am

[14:43] {fernp} stop .11?

[14:43] {Threei} it topped at .13

[14:44] {Threei} oh come on

[14:45] {dino} cya nemo

[14:46] {ilana} hate ths animal..

[14:46] {Threei} US) House passes bill to make estate tax permenant (update)

[14:47] {Threei} congratulation to heirs

[14:47] {Threei} - The legislation protects estates under $3.5M, or $7M for married couples, from the tax. It taxes inherited wealth above that amount at 45%.

[14:47] {Threei} - bill still must move to the Senate

[14:47] {dino} i think it was set to go to zero next year

[14:48] {Threei} 45%

[14:48] {Threei} {AIG} ilana, I demand an apology

[14:48] {fernp} fern is out at .90 TY and good night :-)

[14:48] {Threei} wtg fern

[14:48] {ilana} after this torture?

[14:48] {Threei} see you tomorrow

[14:48] {ilana} never

[14:48] {fernp} bye all

[14:48] {Threei} {AIG} yes- torture or not, I deliver

[14:49] {BillyD} out ty

[14:49] {Threei} welcome

[14:49] {BillyD} it's taken some nerves today to hold some of these

[14:49] {jmb} Thanks Vad

[14:49] {BillyD} nerve

[14:50] {Threei} who would have thought - not only it shaped up as a good day, practically all we won was on a short side

[14:50] {Threei} jmb :)

[14:50] {Threei} Billy, know why?

[14:50] {BillyD} tight range

[14:50] {Threei} because we are shorting into what shapeds up as market reversal

[14:50] {Threei} but there is no reversal yet

[14:50] {Threei} so it's kind of tip of the uptrend

[14:50] {Threei} very uncertain and very nervous

[14:51] {dino} pfg

[14:51] {ilana} reversal is coming soon?

[14:51] {dino} out esi .17, +.27

[14:51] {Threei} general market?

[14:52] {ilana} yes

[14:52] {dino} hmmm tricked me

[14:52] {Threei} well... many pundits call for it for months

[14:52] {Threei} I won't follow their steps

[14:52] {ilana} to downtrend you mean?

[14:52] {Threei} but heck, some day it should reverse

[14:52] {Threei} yes

[14:52] {Threei} 1:2 AIG

[14:53] {BillyD} Vad, it make sit harder to hold for more i n this mkt because it takes alot to finally hit 1:1 after testing you fora while

[14:53] {Threei} yup... that's the uncertainty and nervousness of trend reversal

[14:54] {BillyD} then they continue.....................................

[14:54] {Threei} no one knows whether it comes finally or it's just another headfake

[14:54] {ilana} and i'm lucky to get into trading just on time...

[14:54] {dino} lol

[14:54] {Threei} smell of roasted bear meat permeates premises for months

[14:54] {dino} welcome to the jungle ilana

[14:54] {ilana} rrrrrrrrrrr

[14:58] {dino} trader tax will exempt retirement funds, lol, trade the ira is the loophole

[15:00] {dino} cpl

[15:02] {Threei} AIG...

[15:02] {Threei} this part is without us already

[15:02] {Threei} but really Ilana... you have no reason to be so cruel toward this one

[15:03] {ilana} will give it a couple years to prove itself

[15:03] {Threei} years?

[15:03] {Threei} it may get delisted before that, lol

[15:04] {ilana} even better

[15:18] {dino} rino hl l ave .25

[15:20] {dino} stop is .98

[15:22] {Threei} Defense Secretary Gates: may need to order 4-5K more mine resistant vehicles (MRAP's) for the Afghanistan troop surge (related FRPT OSK NAV )

[15:23] {BillyD} Obama main war issue was in Iran to get them out

[15:23] {BillyD} now we adding more to different war

[15:24] {BillyD} presidential promises..............

[15:24] {Threei} and this one has next to zero chances to be won

[15:24] {Threei} heck, there is no even mission toaccomplish

[15:24] {BillyD} got to find them first

[15:26] {Threei} nah, FRPT is dead

[15:27] {Threei} thoufght maybe some momo on that

[15:28] {BillyD} Vad, any B'Day plans?

[15:28] {Threei} lunch... walk... then get back home and show that single malt how dangerous its life is and how short its lifespan can be

[15:29] {BillyD} rofl

[15:29] {Threei} US) Senate Republicans lose bid to stop Medicare cuts in healthcare bill

[15:30] {ilana} AIG - wall at .70, and look at sPY

[15:31] {Threei} - McCain motion would have prevented the bill from stripping around $400M in Medicare funding.

[15:32] {Threei} Market Internals update at 3:30pmET

[15:32] {Threei} - NYSE volume 800M shares, about 11% below its three-month average; decliners lead advancers by 1.6:1.

[15:32] {Threei} - NASDAQ volume 1.62B shares, about 13% below its three-month average; decliners lead advancers by 1.2:1.

[15:32] {Threei} - VIX index +2.75% to just over 21.50

[15:32] {Threei} (US) President Obama: Administration would like to move forward on job creation proposals linked to energy efficiency (related EUR/USD )

[15:33] {Threei} Proposals under consideration include tax incentiv

[15:33] {dino} oh boy, just like the ethanol junk

[15:34] {Threei} ethanol worked great - just look how well EPIX is doing

[15:34] {dino} rino stopped

[15:35] {dino} lol epix .0110

[15:36] {Threei} ummm... wrong symbol

[15:36] {Threei} but the right one is under $1 as well :)

[15:36] {Threei} what was it

[15:37] {BillyD} PEIX

[15:37] {Threei} lol, yes

[15:37] {Threei} thank you

[15:37] {BillyD} Happy B'day

[15:39] {Threei} another market breakdown

[15:39] {Threei} will AIG follow?

[15:39] {Threei} WFC

[15:40] {Threei} .54 short?

[15:40] {dino} nothing like making a fuel that costs more than existing fuels

[15:40] {Threei} and save nothing in the process

[15:41] {Threei} so far feel about selloff into close proves right

[15:42] {BillyD} stop .64 right

[15:42] {dino} you have that right

[15:42] {Threei} or above .60 if want to keep it anal-retentive

[15:42] {dino} ndx filling open gap

[15:44] {BillyD} out ty

[15:44] {Threei} beautiful

[15:44] {Threei} nice and easy

[15:44] {dino} heck of a drop

[15:44] {BillyD} yeah, and I hate WFC....lol

[15:44] {Threei} and again on a short side

[15:44] {Threei} hehe

[15:44] {Threei} that's why we short it

[15:52] {Threei} 14:20] {Alert} Threei does it feel like eod will bring real selloff to anyone?

[15:52] {Threei} 14:29] {Alert} Threei I do feel seloff coming

[15:53] {BillyD} nice read

[15:53] {dino} indeed

[15:53] {BillyD} mkt knew it was your B'day

[15:53] {Threei} lol

[15:55] {Threei} 119.30 was short trigger I was paper-trading on GLD

[15:55] {Threei} worked like charm

[15:55] {Threei} maybe I need to starty calling it again, carefully

[15:56] {Threei} see the setup?

[15:56] {ilana} yes

[15:56] {BillyD} big time

[15:56] {ilana} very nice chart it was

[15:57] {ilana} bye and happy b-day again, Vad

[15:57] {Threei} thank you

[15:57] {Threei} okay guys, thank you all

[15:57] {Threei} nice day

[15:57] {Threei} see you all tomorrow

[15:58] {dino} have a happy b-day 3i

[15:58] {dino} next gaps 1768 ndx, 1097 s/p

[15:58] {Threei} I will

[15:58] {BillyD} bye Vad

[15:59] {Threei} you will be able to tell tomorrow as my ytping will be worse on record

[16:00] {dino} ttwo

Dec 02 2009

Much better day with few calls (I tend to get careful after getting my behind kicked) but all of them being winners, one turning into nice 40 cents runner (ATHR).

Session Time: Wed Dec 02 00:00:00 2009

[07:50] {nemo} hi folks

[07:51] {strider} morning nemo, patience.

[07:51] {strider} jmb

[07:51] {patience} good chilly morning :)

[07:51] {nemo} yeah, cold here too

[07:53] {strider} 40 degrees here...supposed to rain all day.

[07:53] {nemo} 20's here

[07:53] {nemo} sunny

[08:08] {Threei} RSOL signed a large multi-site contract to design and install 790 kW DC of solar electricity in CA (3.03, 0.00, 0.00%)

[08:11] {Threei} BLTXX Baltic Dry Index rises just over 2% (first gain in 9 sessions)

[08:14] {Les} hello.

[08:14] {Les} frozen fingers working in garden this morning

[08:15] {Les} couple of glasses of wine and I'm warmed up to trade

[08:15] {Threei} Les :)

[08:16] {Threei} *(US) ADP NOV EMPLOYMENT CHANGE: -169K V -150KE

[08:16] {Threei} - Prior revised from -203K to -195K

[08:16] {Threei} - Sept revised to -227 from -254

[08:19] {nemo} Hi Raven

[08:20] {Raven} mourn

[08:20] {nemo} morn or mourn

[08:20] {Raven} cosmo says mourn

[08:20] {Les} AIG in playful mood this morn

[08:21] {Threei} R :)

[08:22] {Raven} T:)

[08:22] {nemo} cute

[08:22] {Raven} lol

[08:25] {Threei} Raven... I guess this is first time ever someone thought you and I were cute

[08:25] {Threei} well... certainly first for me

[08:25] {nemo} responses were cute

[08:25] {Threei} oh don't ruin it for me

[08:26] {nemo} fine...

[08:26] {Raven} {}

[08:26] {Threei} but don' go any further that road either

[08:26] {nemo} [08:21] {&Threei} R :)

[08:26] {nemo} [08:22] {+Raven} T:)

[08:26] {nemo} [08:22] {nemo} cute

[08:27] {Threei} RSOL daily looks interesting

[08:27] {Threei} don't know how influential news is

[08:27] {Threei} it's some strange arrangement

[08:28] {Les} what you refering to?

[08:28] {Les} the recent buying?

[08:29] {Threei} real goods solar Signed large multi-site contract to design and install 790 kW DC of solar electricity in CA

[08:29] {Threei} - Signed a large multi-site contract to design and install 790 kW DC of solar electricity across fourseparate affordable housing communities: three in San Francisco and one in Richmond, CA.

[08:29] {Threei} - The PV systems will be financed through a Power Purchase Agreement (PPA), enabling these properties to use solar-generated power without the upfront capital costs or operational expenses. Upfront installation costs have been significantly reduced by San Francisco Mayor Gavin Newsoms GoSolarSF solar energy incentive program, and the California Solar Initiative Multi-Family Affordable Solar Housing (MASH) Rebate Program.

[08:29] {Threei} - This multi-million dollar investment is expected to generate 1,090,311 kWhrs (1.1 MWhrs) of electricity for the residents of these communities, ensuring lower electricity rates for years to come. Californias new Virtual Net Metering tariff will allow the electricity and cost savings to be shared among the resident families as well as the common areas, a first for California.

[08:29] {Threei} - Through the San Francisco City Build and Solar Richmond workforce training programs, approximately 36 workers who were previously unemployed now have jobs installing the systems.

[08:30] {Threei} CYTR Announces That FDA Lifts Clinical Hold of Arimoclomol in ALS (1.00, 0.00, 0.00%)

[08:31] {Threei} so if I understood it right, RSOL installs equipment at its own expense, albeit reduced by rebates,

[08:32] {Threei} and hopes to recover it and profit by selling energy

[08:33] {Threei} KERX

[08:33] {Threei} Keryx Biopharmaceuticals Inc Receives FDA Fast Track Designation for KRX-0401 (Perifosine) for the Treatment of Relapsed/Refractory Multiple Myeloma

[08:33] {Threei} - A Phase 3 trial investigating perifosine in combination with bortezomib (VELCADE) and dexamethasone for the treatment of patients with relapsed/refractory multiple myeloma is expected to commence by year-end under a Special Protocol Assessment (SPA) with the FDA.

[08:33] {Threei} - In addition, in September, the Company announced that perifosine had received Orphan-Drug designation in the United States for the treatment of multiple myeloma.

[08:35] {Threei} Analysts at Credit Suisse update China investment strategy; Growing cautious in construction and capital goods names that are overly exposed to infrastructure/industrial development

[08:35] {strider} KERX has gap up to 5.

[08:36] {Threei} AEZS Receives FDA Fast Track Designation for the Treatment of Relapsed/Refractory Multiple Myeloma (1.00, 0.00, 0.00%)

[08:39] {Les} nice cup developed, wonder if it can pull of handle as well KERX

[08:41] {Threei} on what chart?

[08:50] {Les} daily, last 3 months. No?

[08:50] {Les} or is that shallow pullback?

[08:51] {Threei} so far it's a cup

[08:51] {Threei} it's just that such time frame doesn't give you any options for today

[08:51] {Les} so can it be played as breakout of present price, given the consolidation?

[08:52] {Les} or would waiting for handle be way to go?

[08:52] {Threei} if you want to play C&H on daily chart, there is no such play today

[08:52] {Threei} it just completes the cup

[08:52] {Threei} whatever you want to play today would have to come from intraday chart

[08:53] {Les} sure

[08:54] {strider} NVAX

[08:55] {ese} morning

[08:55] {Threei} strider, ese :)

[08:55] {Threei} NVAX had news...

[08:55] {Threei} H1N1 trials

[08:55] {strider} morning 3i, ese:)

[08:55] {Threei} isn't it horribly late for that?

[08:56] {ese} ST vad

[09:01] {Threei} DRYS is knocking on yest high

[09:01] {fernp} Good morning everybody

[09:01] {Threei} [08:11] {Alert} Threei BLTXX Baltic Dry Index rises just over 2% (first gain in 9 sessions)

[09:01] {Threei} fern :)

[09:01] {strider} morning fern:)

[09:02] {Les} hey fern

[09:02] {fernp} strider, les :)

[09:03] {larisa} gm :)

[09:05] {Threei} larisa :)

[09:05] {larisa} :)

[09:05] {nemo} lari :)

[09:06] {larisa} nemo :)

[09:06] {strider} larisa:)

[09:06] {strider} rubbi, tomg:)

[09:06] {nemo} goodnight john-boy

[09:08] {strider} Anybody using the History Board view in Laser?

[09:09] {tomg} i use it

[09:09] {Moose} gm all

[09:09] {Threei} tom, moose :)

[09:09] {tomg} gm :)

[09:09] {strider} I'm having trouble with it sometimes overwriting previous entries, when I type a new sym into the linked chart.......have you seen that?

[09:09] {tomg} yes

[09:09] {strider} know how to prevent it?

[09:10] {nemo} wait for laser brain to show up and then hammer him with the question

[09:10] {tomg} i figured it out, but forgot....let me look

[09:10] {ese} snts......another drug company moving this morning

[09:10] {strider} thx

[09:11] {tomg} right click over it, look at settings

[09:11] {strider} k

[09:11] {tomg} what do you have for stock depth (lower right corner)

[09:11] {Threei} SNTS yesterday after hours news

[09:11] {Threei} Tuesday, December 01, 2009 5:20:43 PM

[09:11] {Threei} Santarus Inc Confirms FDA Approval of Schering-Plough HealthCare Products ZEGERID OTC

[09:11] {strider} 10, but it's replacing at 4 right now.

[09:12] {tomg} i set mine at 20.

[09:12] {strider} Dos cursor have to be set in a specific place in board?

[09:12] {tomg} i don't think that's the answer though

[09:12] {Threei} Reminder: Treasury Secretary Geithner to testify before the Senate Agriculture Committee on reform of the OTC derivatives market at 9:30amET

[09:12] {tomg} do you have dynamically sort checked?

[09:13] {strider} no. but I will.

[09:14] {strider} that seems to help

[09:14] {nemo} save your layout strider

[09:14] {tomg} ok, i did something, and whatever it was it fixed it. just don't remember exactly. maybe that's it

[09:14] {strider} will do.

[09:15] {strider} It's a good feature.

[09:15] {nemo} how did you link it to charts...I tried to figure that out

[09:15] {strider} Unfortunately, I overwrote most of my stocks for this morning.

[09:16] {strider} nemo..just as you link any thing else...under Window, set link

[09:16] {nemo} yeah, I tried that

[09:16] {strider} try it again...:)

[09:17] {strider} If you have the chart in another set of links....add it to that set.

[09:17] {nemo} I did, then when I click on the symbol in board view it doesn't do anything

[09:18] {strider} You're doing something wrong...works for me.

[09:18] {nemo} thanks Howard

[09:18] {strider} who's Howard?

[09:19] {nemo} Howard Cosell...master of the obvious (sorry Vad...came well before you)...no kidding...I'm doing something wrong (surprise!)

[09:20] {strider} Might be best to start with new board view history, and link it before you put in any syms.

[09:21] {nemo} Yeah...I was afraid of that

[09:22] {strider} WAG gap down

[09:25] {ese} me thinks that kerx is a good bet this morning.......fast track desination for a lukemia drug......

[09:25] {nemo} thou art funny

[09:26] {Threei} (US) Moody's: Outlook for US banks continues to be Negative (post Q3), substantial asset quality issues remain for rated US banks (related XLF )

[09:28] {strider} Regional Bank sector upgraded to Overweight from Market Weight at Credit Suisse

[09:28] {strider} Credit Suisse upgraded the Regional Bank sector as they expects NPA's, NCO's and provisions to improve in 2010. The firm upgraded SunTrust (STI) to Outperform from Neutral and BB&T (BBT)to Neutral from Underperform and sees the most upside in Fifth Third Bancorp (FITB) and First Horizon (FHN).

[09:30] {lasertrev} gm

[09:30] {Threei} trev :)

[09:30] {strider} long kerx 3.00

[09:30] {Threei} NANO

[09:31] {ese} l kerx .08

[09:32] {nemo} gld

[09:32] {nemo} sorry

[09:33] {Threei} no idea what happens with NANO but it's a momo candidate

[09:33] {dino} gm all

[09:33] {nemo} dino :)

[09:33] {Threei} dino :)

[09:34] {strider} nothing on the fly

[09:34] {strider} dino:)

[09:35] {Threei} AIG is getting sold off hard

[09:35] {Les} KERX about to do a salmon?

[09:35] {ese} out kerx .12 +,04

[09:35] {Threei} I doubt it Les

[09:35] {Les} ah no

[09:36] {Threei} where is magooo... he would already be up 50 cents on NANO

[09:37] {Moose} 3i.. did you trade NANO?

[09:37] {nemo} communing with the fauna

[09:37] {Threei} scalped

[09:37] {Moose} k

[09:37] {Threei} US Rep Frank: Aiming to vote on financial reform bill in the House by 12/9 (related XLF IXG )

[09:37] {fernp} ATHR 30 break, Vad?

[09:37] {Threei} I like the chart fern

[09:37] {Threei} a bit too thin

[09:38] {Threei} but has nice potentiasl

[09:38] {fernp} ok

[09:39] {Les} drys upon consolidation?

[09:39] {Threei} feels so

[09:39] {Threei} won't be fast, but that's not the nature of this stock

[09:39] {Threei} .40 break prooably worth a try

[09:40] {Threei} ATHR 30 is yesterday's high too

[09:41] {Threei} and a lot of offers

[09:41] {Threei} so break will put it on 2 days break scanners, annual hgh scanners

[09:41] {fernp} that's good

[09:41] {Les} drys .40

[09:44] {nemo} seed coughing up the furball

[09:45] {nemo} no short shares...phoooey!!

[09:45] {strider} never are.

[09:45] {nemo} they'll show up some day

[09:45] {nemo} nano

[09:45] {nemo} oops

[09:45] {strider} buy some, and then borrow them from yourself.

[09:46] {Moose} AIG

[09:46] {nemo} ha.....ha........ha.....

[09:46] {strider} KERX ain't acting right.

[09:47] {Threei} NANO will probably cut through 13

[09:47] {ese} not yet ST

[09:47] {strider} I'm still in small.

[09:48] {strider} still no news NANO?

[09:48] {ese} made .04 but am looking to get back in

[09:48] {Threei} not that I see

[09:50] {ese} waiting for a higher low type thing

[09:50] {Threei} ATHR launch

[09:50] {fernp} i am in

[09:50] {fernp} stop under .90

[09:51] {Les} l drys .46

[09:51] {fernp} i am out 1:1 ATHR

[09:51] {strider} good move fern.

[09:51] {Threei} chewing sound ATHR

[09:51] {fernp} ty

[09:51] {Threei} why .46 Les

[09:52] {Threei} .40 was break level

[09:52] {ese} a little pullback to say .92 st and then away we go

[09:52] {Les} wasn't sufficient consolidation before breaking new high?

[09:53] {Threei} not the point Les... point is, trigger for atrade was .40

[09:53] {Threei} why skip that and then buy .45 break?

[09:54] {Les} figure 12.2, p.126

[09:54] {strider} AIG

[09:55] {strider} no pullback ese

[09:55] {ese} l kerx .99

[09:55] {ese} yup it's strong

[09:57] {Threei} some day we will stumble onto dice with AIG letters on it

[09:58] {Threei} what a weirdo

[09:58] {nemo} who...Les? :)

[09:58] {Threei} well, let's not make it personal because some may find themselves in a glass house {G}

[09:58] {strider} RIMM

[09:58] {Les} oooh in fine form today nemo

[09:59] {nemo} oh yeah...and I throw the stones from the inside

[09:59] {nemo} sorry les...when Vad sticks YOUR chin out like that, I have too

[09:59] {nemo} I'll expect payback

[10:00] {Les} yeh 1 letterbomb express mail

[10:00] {strider} lotsa sellers, KERX

[10:00] {Threei} ATHR, if anyone is holding for more, stategy at this point is:

[10:00] {Threei} stop under 30, offer 1.4 more just above .20

[10:01] {dino} hmmm, i see they dumped the ed's while i was away

[10:01] {Threei} yeah

[10:01] {ese} yup

[10:02] {Threei} 1:2 ATHR

[10:02] {Threei} stop to under .10

[10:02] {ese} lots of buyers too

[10:02] {ese} kerx

[10:02] {Threei} last portion is a choice between exiting at 1:3 or trailing from now on

[10:04] {BillyD} SOMX action

[10:05] {ese} sure ....now i get my pullback

[10:06] {strider} short CBAK .87

[10:07] {strider} stop .95

[10:07] {ese} higher low st.....wha...da ...ya figer

[10:07] {strider} I dunno. I'm about ready to bail.

[10:07] {ese} where you in at

[10:07] {strider} I think there's so much for sale at 3.,

[10:07] {strider} 3.00

[10:07] {ese} could be

[10:08] {strider} I'll wait for a higher low also.

[10:08] {nemo} watching wag, for break of .80

[10:08] {strider} stop 2.87 for me, KERX

[10:09] {nemo} Les...you want my address?

[10:09] {ese} ya ....if it puts it in here....it'll make the high of the day i think.....more times than not with this pattern they do........but.......stocks go up except when they don't and down except when they don't

[10:10] {Les} Vad's already given it me...

[10:10] {Threei} with map attached

[10:10] {Threei} ATHR 1:3

[10:10] {Threei} beautiful setup, textbook

[10:10] {fernp} JWN long .80 stop under .70

[10:10] {Threei} now, textbook says:

[10:10] {fernp} out ...and late post

[10:11] {Threei} 1:3 if taken more often than not leads to fast 1:4

[10:11] {ese} hmmmmm .99 give me .15 .84 for me

[10:11] {nemo} trail above the 13 ma

[10:11] {Threei} if trailing, trail under .20

[10:11] {ese} here we go........theres a good little stock

[10:12] {nemo} what stock ese?

[10:12] {ese} kerx

[10:13] {Threei} DRYS over 1:1

[10:13] {Les} from your .40 break, yeh

[10:13] {Threei} right

[10:13] {Threei} your .45 break has two variations

[10:14] {Les} you'll have to show me where I should have entered when things have quietened down

[10:14] {Threei} one is if trade was taken as scalp type 1

[10:14] {Threei} then stop would be under .40, so it's at 1:1 as well

[10:14] {Les} ok

[10:14] {Threei} or as a scalp type II or a day trade, then your stop is under .35

[10:14] {ese} move day for drys.....like the third round of a golf tournament

[10:14] {Threei} and you have a few more cents till 1:1

[10:15] {ese} i think were lookin good here st

[10:15] {Threei} I told the entry when you first asked Les... and even before that

[10:15] {Threei} .40 break

[10:15] {Threei} ATHR 1:4

[10:15] {Threei} my a$$ is out

[10:16] {ese} no vad........not that

[10:16] {strider} oh, lord...another trading log that can't be posted.

[10:16] {ese} higher low st.....lets make the high

[10:17] {strider} I was hoping for an all day trade, but doesn't look like it now.

[10:17] {ese} all day trade in what

[10:18] {strider} kerx/....thought it might really take off.

[10:18] {ese} auch nuu aye man........

[10:18] {strider} boutght snmall with the idea of partialling in with confirmation.

[10:19] {ese} good plan.....might be better than mine still

[10:19] {ese} i plan on gettin out at the highs

[10:19] {strider} Now all I got is two stocks dead in the water.....

[10:19] {ese} if it ever bloody gets there

[10:19] {strider} and I think vad has retired.

[10:20] {nemo} sqnm

[10:21] {ese} naaaaaahhhhhh! He just watches us....shaking his head thinkin......."what am i doing here....what am i doing"

[10:21] {Threei} don't see any news SQNM

[10:21] {Threei} some rumor somewhere probably

[10:22] {strider} RIMM?

[10:22] {strider} too late

[10:22] {nemo} it's right at support

[10:23] {strider} now lower high, ese. volume dropped to zip.

[10:23] {BillyD} Vad, your hover trick makes a big difference

[10:23] {ese} maybe

[10:24] {Threei} good to hear Billy

[10:24] {Threei} me useful

[10:24] {Threei} me glad

[10:24] {ese} what the hover trick

[10:24] {Threei} that's for Laser ese

[10:24] {ese} ahhhhh

[10:24] {BillyD} have ot get ese a pigeon trick

[10:25] {BillyD} a fast pigeon that is

[10:25] {ese} so your sstill just sitting there shaking your head wondering....."what am i doing here"?

[10:26] {ese} we ove ya vad!!! well at least i do

[10:26] {ese} love

[10:26] {nemo} manlove...wonderful

[10:27] {Threei} ummm

[10:27] {nemo} speechless

[10:27] {Threei} sorry ese, we will have to settle on a handshake

[10:27] {ese} done

[10:27] {Threei} I am very limited in my gender prefeences

[10:27] {nemo} what about species?

[10:28] {Threei} that too

[10:28] {Threei} humans and green men (well, women) from Mars

[10:28] {ese} st.....we may get the all day consolidation at 3.00 quell drag

[10:28] {strider} DOE inventory numbers at 10:30

[10:28] {Threei} or is it ZVenus

[10:28] {dino} gme hl l .00

[10:28] {strider} fwiw

[10:29] {fernp} have to install a samba server. i'll be back in a couple of hours

[10:29] {ese} dino.....your back

[10:30] {Threei} *DOE CRUDE: +2.1M V 0.0E; GASOLINE: +4M V +750KE

[10:30] {Threei} DISTILLATE: -1.1M V -500KE; CAPACITY UTILIZATION: 79.7% V 80.8%E

[10:30] {nemo} wow

[10:31] {dino} lol es

[10:31] {Threei} Update: Tiger Woods issues statement: says he has "let his family down" with his "trangressions"

[10:31] {strider} whatever.

[10:31] {nemo} well...there goes the sponsorship money

[10:31] {ese} huh your kidding

[10:31] {ese} where did you read that vad

[10:32] {Les} like he needs sponsor money anymore

[10:32] {nemo} not the point les

[10:32] {dino} leave the guy alone

[10:32] {BillyD} things stuck right now

[10:33] {Les} CAT b/d .50 trigger?

[10:35] {Threei} i the news ese

[10:35] {Threei} I like CAT chart

[10:35] {Threei} hopefully it stays under .60

[10:36] {Threei} for a tight stop

[10:36] {Threei} its nature is not very conducive to tight stop plays

[10:36] {Threei} but if market drops, this break should be nice

[10:36] {Threei} thing is red while market is strong

[10:37] {Threei} volume dris up on bounces

[10:37] {Threei} dries

[10:37] {nemo} aig short .04?

[10:37] {nemo} stop a bit wide

[10:38] {Threei} nah

[10:38] {Threei} not my kind of setup

[10:38] {ese} kerx....looking dud ish st

[10:38] {nemo} could just be trend continuation

[10:40] {dino} ced hl l .65

[10:40] {nemo} ced dino?

[10:40] {strider} ced?

[10:41] {nemo} think amzn will ever stop?

[10:42] {dino} opps cedc

[10:43] {dino} acl

[10:44] {nemo} patience, you in kgc?

[10:48] {strider} out CBAK +.01...what a dog.

[10:48] {patience} no nemo, i am only hgu

[10:48] {patience} big day for me yesterday

[10:48] {patience} so i am just quietly going with hgu today...letting it trade

[10:51] {patience} out hgu, macd just flipped +.82

[10:52] {larisa} gj

[10:54] {strider} damn kerx.....huge offer

[10:54] {nemo} 3.01 also

[10:55] {strider} yeah...doesn't look like it's going anywhere.

[10:55] {strider} well, it's getting eaten up.

[10:55] {strider} whoa.

[10:55] {strider} jeez.

[10:56] {BillyD} watching SOMX

[10:56] {BillyD} can be a toughie though

[10:57] {Les} still watching CAT. AIG b/d .80 trigger?

06[10:57] * strider slaps Threei around a bit with a large alarm clock.....time to get up!

[10:58] {nemo} Dino, gmcr, maybe bear flag

[10:58] {strider} out KERX +.07

[10:58] {ese} nice one

[10:59] {Threei} CAT just doesn't set up

[10:59] {Les} not yet

[10:59] {Les} .20 stop doable?

[11:00] {Threei} and AIG, for the world of me I can't tell whether it's breakdown, or sit at the low then spike

[11:01] {Threei} I'd prefer aggressive entry on CAT

[11:01] {Threei} .70 is closest resistance

[11:02] {Threei} no clear trigger for now

[11:02] {nemo} .66 is pivot

[11:03] {strider} there goes the market.

[11:04] {Les} so we're not permitted to play CAT. by invitation only?

[11:04] {Threei} huh?

[11:04] {Threei} see how .50 entry would put you in a very uncertain position now?

[11:05] {Les} y

[11:05] {Threei} because it would be done at the end on vertical drop

[11:05] {Les} that's what I meant by invitation only

[11:05] {Threei} but any kind of aggressive entrey would already be in a very nice profit

[11:05] {Les} hmm

[11:05] {Les} aig too

[11:05] {Threei} market drop takes them all down

[11:06] {dino} sm s acl .20

[11:09] {dino} stopped -.35

[11:09] {ese} what the h is this drop all about

[11:09] {BillyD} does it need a reason

[11:09] {Threei} maybe this:

[11:09] {Threei} US House approves plans to create first Federal Insurance industry regulator (related AIG MET GNW PRU HIG PFG LNC UNM GNW AFL )

[11:10] {Threei} or this

[11:10] {Threei} UA) IMF: Dubai's direct effects on international banks appear contained, sees no need to provide Dubai with financial support

[11:10] {Threei} - Calls on UAE to communicate with investors to ensure timely resolution of debt issue

[11:10] {Threei} or it's just time for markert to roll over and die

[11:11] {ilana} did these news just come out?

[11:12] {larisa} this rally already got a name "most hated" :)

[11:12] {ese} you know....i keep reading that there is still lots of uncommitted money out there.....can't see it but maybe there is

[11:12] {strider} long AIG .44

[11:13] {Threei} yes ilana

[11:13] {Les} yes, someone jerking traders chains today

[11:13] {Threei} because most everyone missed it larisa... and waited in vain for price to return for entry, or even shorted it

[11:15] {larisa} hubby got in in march. i told him to get out at DOW 9900 :) now he is very angry with me :)

[11:16] {strider} out AIG +.14

[11:16] {strider} +.16

[11:16] {Threei} wtg

[11:17] {strider} thx vad

[11:18] {dino} gj

[11:19] {Les} cat did its big drop again

[11:19] {strider} SSTEC

[11:19] {strider} STEC

[11:20] {strider} missed it

[11:22] {dino} dgw

[11:23] {strider} : STEC declines after Micron announces plans to enter solid state drive market

[11:25] {Les} another short entry on CAT coming? .20?

[11:25] {Threei} CAT follows the market right now

[11:26] {Threei} market drops, so will CAT

[11:30] {Threei} Barclays is reportedly ending its bets on EUR rising v USD (related EUR/USD )

[11:31] {Threei} another contributing factor to market weakness

[11:31] {Threei} if USD is bottoming out, we are to see market dump

[11:31] {larisa} AMZN exploded

[11:32] {larisa} interesting stock. it is either up all day or down all day. I seldom can catch good bounces on it.

[11:33] {larisa} against the trend it is

[11:34] {strider} ese, you still in KERX?

[11:38] {dino} gme stopped -.35

[11:41] {strider} Favorite quote from our favorite author:

[11:41] {strider} And what is it a trader needs to control? We know we cannot control the market. All we need to control is ourselves, our own behaviour. And this self-control is what enables us to win in the market. It's just uncomfortable. It requires discipline; unclouded, unbiased thinking; and the willingness to admit mistakes without ego intervention. Discomfort and profit go hand in hand.

[11:41] {Threei} sounds familiar...

[11:42] {Threei} I have read it somewhere

[11:42] {Moose} !

[11:42] {dino} in the zone?

06[11:42] * Threei slaps dino around a bit with a large book of Techniques of Tape Reading

[11:42] {strider} But this board of nails is a little excessive. Do all newbies in the room have to use it?

[11:42] {dino} busting you buddy

[11:42] {BillyD} lol

[11:42] {Threei} :)

[11:43] {BillyD} Vad, did you write TTR before the Zone?

[11:43] {Threei} hmmm

[11:43] {Threei} I don't remember... gotta look what year Zone was published

[11:43] {larisa} discomfort and profit.. pain and loss.. can we ever be happy at work ? :)

[11:44] {BillyD} 2000

[11:44] {dino} nvo

[11:44] {strider} long STEC .76

[11:44] {Threei} my copy is 2001... so TTR was mostlywritten

[11:45] {strider} out +.08

[11:46] {Threei} not taking any chances eh

[11:46] {strider} stretchy candle scared me

[11:46] {Threei} and volume spike

[11:48] {BillyD} have confession Vad

[11:49] {strider} uh-oh.

[11:49] {BillyD} took NVAx this morning on .50 break

[11:49] {BillyD} only to be denied once again

[11:49] {BillyD} with same thoughts of "what am I doing in this stock"

[11:49] {Threei} no kidding

[11:50] {BillyD} denied by couple pennies of winning trade

[11:50] {dino} acl nonstop

[11:50] {Moose} i'm thinking that one could almost make a living just trading FAS and FAZ

[11:50] {Threei} it wasn't much of a player on most of it swine flu news when swine flu was a future threat

[11:50] {nemo} cat on the edge again

[11:50] {strider} no news on acl

[11:50] {BillyD} the risk was .10 as low of day

[11:50] {nemo} I'll go for coffee...should trigger

[11:52] {Threei} what do you want from it nemo? }16 as shor trigger?

[11:52] {Threei} short

[11:52] {Threei} GM Chairman Lutz: GM is poised to be profitable in "anything close" to a normal market

[11:52] {BillyD} lol

[11:52] {Threei} Notes GM management was surprised by CEO Henderson's decision to step down.

[11:52] {Threei} huh?

[11:53] {Threei} wasn't he "fired" by autobuilder-in-chief?

[11:53] {Moose} bbl

[11:55] {strider} dbl top, moose?

[11:55] {Threei} market looks breakdownish

[11:55] {dino} yes

[11:55] {Threei} and CAT triues to follow

[11:56] {strider} double bubble?

[11:56] {Threei} anyone takes this short, stop is around .30

[11:57] {strider} acl, wow...moves in dollars

[11:57] {Threei} look at its spread

[11:58] {strider} yeah.

[11:58] {strider} That's why dino like it. :)

[11:58] {nemo} dino flosses with barbed wire

[11:58] {Threei} CAT works

[11:58] {Threei} a bit too slow for CAT...

[11:59] {nemo} hah, I went for coffee...what I tell ya'

[11:59] {Les} so why did you go for coffee?

[11:59] {nemo} needed a cup...expensive cup

[11:59] {nemo} well, maybe

[12:00] {nemo} .07 is support for cat

[12:00] {nemo} pivot support that is

[12:01] {strider} folken, I gotta go....

[12:01] {strider} I'll leave acl to you.

[12:01] {BillyD} cya ST

[12:01] {strider} a la manana.

[12:01] {strider} or banana

[12:01] {Threei} take care strider

[12:01] {strider} :)

[12:07] {dino} later stride

[12:08] {Threei} over 1:1 CAT

[12:08] {BillyD} RIMM in its own world today

[12:10] {nemo} aig at resistance

[12:11] {dino} cat to .00, thks 3i

[12:12] {Threei} credits to les and nemo

[12:12] {Threei} I just provided running commentary

[12:12] {dino} alrighty then thx les, cosmo

[12:12] {nemo} yeah...when I went for coffee it triggered

[12:12] {larisa} lol

[12:12] {dino} took .15

[12:13] {larisa} cosmo is in Tibet

[12:13] {nemo} australia

[12:13] {dino} opps nemo, sorry about that

[12:13] {nemo} seeing the DL

[12:13] {nemo} sorry about what?

[12:13] {larisa} must be the same for real american :)

[12:13] {dino} thx nemo

[12:15] {dino} bstop to .95

[12:15] {BillyD} nice trail dino

[12:15] {dino} to .91

[12:15] {dino} ty

[12:17] {Threei} Just 21% Favor Bernankes Reappointment As Fed Chairman

[12:17] {Threei} throw the bum out

[12:17] {Threei} and abolish the fed while at it

[12:18] {dino} cyber crashed, did my bstop hit?

[12:18] {Threei} no

[12:18] {BillyD} at .83 x .85

[12:18] {dino} ty

[12:19] {Threei} sharp drop now

[12:19] {Threei} .74

[12:19] {nemo} .72 dino

[12:19] {Threei} cover if you can

[12:19] {dino} still not in

[12:19] {dino} cyber issue, other computers working

[12:19] {nemo} call broker

[12:21] {nemo} .67 dino

[12:21] {dino} cov. .70 thru phone, +.45 thx again

[12:21] {Threei} whew

[12:21] {Threei} wtg

[12:21] {nemo} cool

[12:22] {Threei} would be a real shame to run into sharp bounce and let such nice one evaporate

[12:22] {nemo} better than a sharp stick...huh vad

[12:22] {dino} appreciate the updates and call, fl

[12:22] {dino} ok, back into trade sys.

[12:22] {Threei} AIG is holding strangely well

[12:24] {Threei} Long Setup: .80 break AIG

[12:24] {Threei} stop under .70

[12:25] {dino} jst drop

[12:25] {Threei} not every day this animal shows setup with just 10 cents risk

[12:25] {Threei} gotta try it when it does

[12:26] {nemo} becomes a fade on failure

[12:26] {dino} acl spikes again

[12:30] {Threei} let's trail to under .75

[12:30] {Threei} a bit too long stall

[12:39] {ese} st.......was on the phone to the czeck republic....yup i'm still in kerx....stop is .84 just gonna let it ride

[12:40] {ese} czech

[12:40] {ilana} suspiciously slow, aig

[12:41] {ese} and Belgium

[12:42] {nemo} lunch time

[12:42] {ilana} i knew you would say it :-)

[12:43] {dino} acl sm s ..20 ave risky

[12:43] {ilana} wow, if you say risky, it must be a hell

[12:44] {dino} lol, .17 spread

[12:45] {Threei} 1"1

[12:46] {Threei} 1:2

[12:46] {Threei} me out

[12:46] {Threei} thank you AIG

[12:46] {dino} gj

[12:48] {Threei} that's 4 for 4

[12:48] {dino} smokin'

[12:48] {Threei} had bad day yesterday dino

[12:48] {Threei} just digging my way back

[12:49] {dino} cov acl .88

[12:49] {dino} 155.88 that is wow!

[12:50] {dino} +3.32

[12:50] {dino} lucky

[12:50] {Threei} wtg

06[12:50] * nemo slaps dino around a bit with a large roll of cash

[12:50] {ilana} gj!

[12:50] {dino} thing collapsed

[12:54] {patience} .

[12:56] {ilana} WFC .45 break?

[12:57] {nemo} hard to tell, chart right though, volume characteristics iffy

[12:57] {ilana} plus the lunch time...

[12:57] {nemo} hey! that's my line...

[12:58] {ilana} i just borrowed it, ok

[12:58] {nemo} life is plagiarism

[12:58] {BillyD} play nice nemo

[12:58] {Threei} that's why I love living I guess

[12:58] {nemo} I was watching cat for .85 abreak but volume weird

[13:02] {dino} acl bounces again

[13:07] {BillyD} gern stem

[13:09] {Moose} lol... there was just an ad above on Mibbit about catching plagiarism

[13:10] {Moose} timely

[13:11] {Threei} it's not mibbit Moose

[13:11] {Moose} :D

[13:11] {Threei} it's me

[13:11] {dino} i see it

[13:11] {Moose} lol ic

06[13:11] * nemo slaps Moose around a bit with a large trout

[13:11] {Threei} [12:58] {nemo} life is plagiarism

[13:11] {Threei} [12:58] {BillyD} play nice nemo

[13:11] {Threei} [12:58] {Threei} that's why I love living I guess

[13:11] {Threei} this exzchange moved me to come up with that :)

[13:11] {dino} acl crazy again

[13:11] {Moose} ahhh ic

[13:11] {Moose} :O

[13:11] {nemo} didn't notice billy's comment...play nice? what's wrong with that?

[13:12] {Threei} nothing, Billy just still has this illusion that you can be reigned

[13:12] {BillyD} you are getting slow

[13:12] {Threei} a few more months and he will make his peace with the fact that you are incorrigible

[13:12] {BillyD} lol

[13:13] {Threei} after all, he gave up on me, didn't he

[13:13] {nemo} no, I subconsciously don't pay attention to you

[13:14] {BillyD} you are right vad, he won't behave

[13:14] {BillyD} I accept it

[13:15] {Threei} I did

[13:15] {Threei} and my life became easier

[13:15] {Threei} and I am all for "make your life simpler"

[13:15] {BillyD} feeling more peaceful already

[13:16] {nemo} now we can't have that

[13:17] {ilana} 1:1 WFC

[13:17] {Threei} :)

[13:18] {Threei} btw on WFC

[13:18] {Threei} where did you enter it Ilana?

[13:18] {ilana} .45

[13:19] {Threei} ok, little comment:

[13:19] {Threei} look at its chart starting from it's bottoming around 12:22,

[13:19] {Threei} see this ladder withing an ascending channel?

[13:20] {ilana} yes

[13:20] {Threei} it did two such moves before it got your attention

[13:20] {Threei} and when it starts uptrending like this,

[13:20] {Threei} the best entry is off lower envelop of this ascending channel

[13:20] {Threei} with exit into higher envelop

[13:20] {ilana} .40?

[13:20] {ilana} entry

[13:21] {Threei} in this case it means, your best entry was on plullback to .40

[13:21] {Threei} right

[13:21] {Threei} around 13:06 - 13:08

[13:21] {ilana} k thx

[13:21] {Threei} smaller stop, better reward

[13:21] {nemo} yeah, volume wasn't giving an idication of what was happening

[13:22] {Threei} right, and I hate breakouts when the pace is so evenly distributed'

[13:22] {nemo} ty

[13:22] {ilana} r u ok nemo?

[13:23] {nemo} o.k. I'll bite...why do you ask ilana?

[13:23] {ilana} being out of your image

[13:24] {Threei} lol

[13:24] {nemo} I say thank you...especially after you let me knaw on your arm for a while

[13:24] {BillyD} rflol

[13:24] {ilana} lol

06[13:24] * nemo thinks he should give up the coffee

[13:25] {ilana} anytime

[13:25] {nemo} too far away I'm sure

[13:25] {nemo} besides, they only let me out for a couple of hours each day

[13:26] {ilana} at lunch time i guess

[13:26] {ilana} that's you fav one

[13:27] {nemo} seed doing the same thing it did yesterday, dance in a range for most of the day

[13:28] {nemo} looking at Qs and spy, are we getting bear flags, or?

[13:28] {ilana} why do you hate evenly distributed pace, Vad?

[13:29] {nemo} can't read it

[13:29] {nemo} when you were looking at that C&H I was looking for volume pattern to confirm the C&H and the break you were looking for. It wasn't there

[13:29] {Threei} when the pace changes from upward to downward move, I can get rythm

[13:30] {Threei} and I can undertand which direction is favored

[13:30] {Threei} when it's just steady up and down with the same volume/pace, it's too random

[13:30] {ilana} i see

[13:30] {nemo} ilana, copy and paste that chart and save it

[13:31] {ilana} a little paradox but true

[13:31] {ilana} what chart nemo?

[13:31] {nemo} next time I see a good example of C&H volume pattern or pullback volume pattern confirming a break, I'll point it out

[13:31] {nemo} wfc

[13:31] {ilana} ok

[13:33] {ilana} where did you see C&H on WFC chart when i posted it?

[13:34] {nemo} it wasn't perfect, but you could make the argument for 12:32 to 12:59

[13:35] {ilana} oh ok, didn't refer to it as C&H, just resistane break

[13:36] {nemo} yes, but the pull back still should have shown a pullback and then a rise in volume toward the breakout point

[13:37] {nemo} you actually had a drop in volume which is a non-confimration

[13:51] {Les} vad, comments you made to Ilana vis a vis WFC trade earlier. does this apply to DRYS this morning?

[13:53] {Threei} well, DRYS was simply a matter of breaking first resistance as a trigger

[13:53] {Threei} vs waiting for some reason for another resistance

[13:53] {Threei} look it this way:

[13:54] {Threei} yeasterday's high on DRYS and today's first morning range showed .40 as a trigger

[13:54] {Threei} that became an etry

[13:54] {Threei} entry

[13:54] {Threei} what is the point of waiting for it to form another range, .40 - .45, and buying .45 break?

[13:55] {larisa} when you posted this morning my quote showed .44 on DRYS already. Not sure if it was my quotes or your MIRC

[13:56] {larisa} or my MIRC or your quotes :)

[13:56] {Les} well in your book entering at the lower end of the envelope is an aggressive trade

[13:56] {Threei} I talked about .40 earlier,

[13:56] {larisa} missed it then

[13:56] {Threei} at the moment of question I didn't look at it, was busy with something else,

[13:56] {Les} but here I read of caveat that "when the stock is uptrending"

[13:56] {Threei} but it did pull back to .40

[13:57] {Les} so one can be a little more aggressive in an uptrend?

[13:57] {Threei} wait a second

[13:57] {Threei} stock broke .40,

[13:57] {Threei} which was an origanl tyrigger,

[13:57] {Threei} then aftet moving up pulled back to .40

[13:57] {Threei} that's not agressive entry

[13:58] {Threei} that's conservative entry

[13:58] {ese} gonna hit the trail.......see ya tomorow

[13:58] {Threei} take care ese

[13:58] {ese} still L kerx

[13:58] {ese} see ya vad

[13:58] {Threei} but without regard to this particular trade yes, in a strong uptrending environment aggresive entries often prove the best

[13:59] {Les} missed several trades today as trending environment enabled stock to jump over entry point

[13:59] {Threei} ATHR was easy to get

[13:59] {Threei} it sat around .02 long enough fore entry

[13:59] {Les} that i wasn't following unfortunately

[14:00] {Les} I chose that loser DRYS instead

[14:00] {Threei} and even DRYS was winner...

[14:00] {Les} hmmm

[14:00] {Threei} FED'S BEIGE BOOK: BANKS FELT ECONOMIC CONDITIONS IMPROVED MODESTLY

[14:01] {Threei} US) Fed's Lacker: US fiscal deficit is a huge challenge, Fed will not allow inflation to rise in order to reduce deficit

[14:01] {Threei} wow... those are fighting words

[14:01] {Threei} dino, do you believe him?

[14:01] {nemo} liar

[14:01] {dino} no

[14:01] {dino} inflation is the only way out, imo

[14:02] {nemo} no it isn't

[14:02] {dino} ?

[14:02] {nemo} default

[14:02] {Les} touché

[14:03] {dino} well, devaluation and inflation will be less painful

[14:03] {nemo} wow, accent and everything

[14:03] {nemo} oh, and they care about the serfs

[14:03] {Les} http://www.thedailycrux.com/content/3455/Porter_Stansberry

[14:04] {Les} don't have accents on English language keyboards?

[14:05] {nemo} no

[14:05] {BillyD} Vad, WFC short idea?, it seems not consistent w/ my memory on standard setups working at good %

[14:06] {BillyD} lately

[14:06] {Les} I'll text santa to send you a swiss logitech keyboard nemo

[14:06] {Les} WFC vad. b/d from here?

[14:06] {Les} .30 trigger

[14:06] {Les} ?

[14:06] {Threei} nor right away

[14:07] {Threei} need little bounce, then break

[14:08] {Threei} ideally, forming inverted C&H

[14:08] {BillyD} ASIA on my radar for 2 days now, w/ low volume and range hard to be convinced to enter

[14:08] {nemo} mon tempting short

[14:09] {nemo} vwap at .70 though

[14:15] {nemo} yeah, that .70 area a bit too important

[14:15] {dino} tsl

[14:15] {nemo} there's your jbe

[14:16] {Les} handle forming on WFC

[14:16] {Threei} .35 resistance so far

[14:21] {nemo} wf, looking long now

[14:21] {nemo} wfc

[14:22] {nemo} holding well against the market

[14:23] {Threei} market doesn't really do anything

[14:23] {Threei} 4 points NW move?

[14:23] {Threei} NQ

[14:23] {nemo} yeah, but that last drop wfc strengthened

[14:27] {BillyD} out WFC -.07

[14:27] {dino} jst sm l .75

[14:31] {Threei} oh my god

[14:31] {nemo} for you to say that...sheesh

[14:31] {Threei} let me go puke, then I'll post it

[14:31] {nemo} he's on tv again

[14:32] {Threei} here:

[14:32] {Threei} (US) White House: President Obama has asked economic team to "do whatever possible" to create conditions that encourage hiring

[14:32] {nemo} oh no...

[14:32] {Les} good soundbit

[14:32] {Les} soundbite

[14:33] {nemo} seed crashing

[14:33] {Threei} I can't make my choice between "no clue" and "I give up, I have no idea what to do"

[14:33] {ilana} isn't it the same?

[14:33] {Threei} well, have to describe that soundbite somehow

[14:34] {Threei} "someone do something!"

[14:34] {Threei} no news SEEF

[14:34] {Threei} SEED

[14:34] {dino} pretty basic what needs to be done

[14:34] {Threei} cut frigin taxes

[14:34] {Threei} create financial room for businesses to hire

[14:34] {nemo} anybody find it interesting that last week the fed talked about testing that reverse repo system, then Plosser talked about having to raise interest rates, then the leveraged etf's getting the leveraged pulled out of them

[14:35] {Threei} they are trying to jawbone the dollar

[14:35] {nemo} well #2 yes

[14:35] {nemo} numbers 1 and 3...something else

[14:35] {Threei} #1 too

[14:35] {Threei} sucking out liquidity

[14:35] {dino} right 3i

[14:36] {nemo} kinda' but, they start that, market goes down the sh%$!!er

[14:36] {Threei} yes,

[14:36] {nemo} and everybody hops on the leveraged shorts

[14:36] {Threei} so they are trying to do it sopftly,

[14:36] {Les} yeh but Obama needs to be elected when?

[14:36] {nemo} yeah, it's starting sooner than we think

[14:36] {Les} 2012?

[14:36] {nemo} 2012

[14:36] {Les} suck it out now

[14:36] {nemo} we'll all be dead

[14:36] {Les} reinject it 2011

[14:36] {nemo} right after election day

[14:36] {Threei} if jawboning succeeds, it will have much less effect than actrual implementation of measures

[14:37] {nemo} jawboning isn't working anymore, especially when you have multiple trillions to refinance

[14:37] {Les} so obama jawbones for the public

[14:37] {Threei} (US) Fed's Lacker: Looking for "well established" growth before tightening rates, real interest rates clearly need to rise

[14:37] {Threei} - Tightening is more about the expected pace of growth

[14:37] {Threei} - Exit strategy should start with asset sales

[14:37] {Threei} - Sees value in getting the Fed out of the housing market

[14:38] {Les} while the fed pulls the switch

[14:38] {Les} on this economy

[14:40] {fernp} im back. good day today?

[14:40] {fernp} scrolling up, I only see one official call on AIG

[14:40] {nemo} 4 for 4

[14:40] {fernp} nice

[14:40] {Threei} most of them were in running comentary

[14:41] {Threei} not leaving me time to type the script

[14:41] {fernp} i will read tonight

[14:42] {Les} WFC coming back to support

[14:42] {Les} that ugly handle qualify WFC as C&H?

[14:42] {nemo} crissakes Les, you see C&H in everything?

[14:43] {Les} belt up

[14:43] {Les} :) i mean that in a nice way

[14:43] {nemo} I don't take it that way

[14:43] {Les} WFC was rounding out its cup nicely. Wondering if handle is valid or is that too far removed from cup?

[14:44] {Les} it has bounced as Vad was looking for

[14:44] {nemo} Les...did I ever tell you about my Disgruntled Postal Worker Fantasy List?

[14:44] {Les} ain't I already on it?

[14:44] {nemo} nice one

[14:45] {nemo} actually no, as a Swiss citizen you are required by law to have an automatic weapon on the premises...I'll skip you

[14:45] {Threei} wrong sequence les

[14:45] {Threei} you don't get on that list

[14:45] {Threei} by default weveryone is on it,

[14:45] {Threei} you can either remain on it on get off of it

[14:45] {nemo} I thought that was DP's list?

[14:46] {Les} oh right I get it

[14:46] {Les} nemo is disgruntled postal worker

[14:46] {nemo} Actually Vad, if I do it that way, I'll have to get warheads

[14:46] {Les} lol

[14:46] {BillyD} notuse to GERN maintaining its gain

[14:47] {Les} sorry, office massacres not part of swiss culture. didn't understand the joke

[14:47] {Les} or should I take Nemo in all seriousness?

[14:48] {nemo} oh sorry, cross-cultural nuance

[14:48] {nemo} no...nobody else does

[14:49] {Threei} I don't believe GERN Billy

[14:49] {larisa} i try to see good in everybody.. you can train yourself to do that.. hard but possible

[14:49] {BillyD} too many memories vad

[14:49] {Threei} serial disappointer

[14:49] {nemo} Oh I see the good...then...I just ignore it

[14:50] {BillyD} yes, but if takes .20 with daily it is compelling

[14:50] {Threei} larisa... can I guess who you are having molst troubles with? {G}

[14:50] {nemo} sure

[14:50] {larisa} you will be wrong :)

[14:50] {nemo} who you talking to Larisa?

[14:51] {larisa} answering vad :)

[14:51] {nemo} mos very strong today

[14:53] {BillyD} unless SOMX gets electric shock, it's not gonna make an eod run

[14:53] {BillyD} it has pending FDA approval or disapproval for friday

[14:54] {dino} pot too

[14:55] {nemo} yeah

[14:58] {dino} mos

[14:58] {dino} whole group is running

[14:58] {nemo} mon related, been running for a month

[15:01] {nemo} mos momo

[15:10] {nemo} look at the day long downward wedge on fcx

[15:12] {Moose} no i'm not

[15:12] {Les} yes you are

[15:12] {Moose} heh

[15:13] {Les} hmm would like to short fcx overnight, but who knows where market is tomorrow?

[15:13] {nemo} you have a macd divergence les

[15:13] {BillyD} SQNM news Vad?

[15:13] {Threei} why woud tou want to keep it short overnight?

[15:14] {nemo} his middle name is Soros?

[15:14] {Threei} rumors Billy

[15:14] {Threei} Sequenom, Inc Ticking higher; hearing vague chatter company could announce a resolution to its mishandled test data issues from April

[15:14] {Threei} - Note: SQNM delayed launch of SEQureDx Trisomy 21 Test on 4/29 due to information an employee mishandled test data and results

[15:14] {BillyD} TY

[15:15] {Threei} keeping half eye on NANO

[15:16] {Threei} trying to see whether it has a chance to go alive again

[15:17] {ilana} .35 break?

[15:18] {Threei} I doubt it has any technicals behind it

[15:18] {Threei} until someone shows me how to use technicals on momos :)

[15:18] {nemo} np

[15:18] {BillyD} yeah, if anything I would take .30, pray and keep .10 stop

[15:18] {ilana} isn't it db on 5 in chart with resistance at .35?

[15:19] {nemo} throw out structure on momos ilana

[15:19] {Threei} it sure is... but the point is, they do not obey these formations

[15:20] {Threei} they are easily break, drop under support, spike over resistance and take your stops in all directions if you try to play standard formations

[15:20] {ilana} why is it momo

[15:20] {nemo} moves fast without technicals

[15:20] {nemo} gotta' read T&S

[15:21] {Threei} why does it become a momo, orhow to tell the momo?

[15:21] {nemo} why? what why?

[15:21] {ilana} you mean this morning?

[15:21] {Threei} yes

[15:24] {Threei} daily chart SQNM... 4.50 is important resistance to break

[15:24] {nemo} wow, yeah

[15:25] {nemo} lotta' confluence there

[15:27] {Threei} I like the chart,

[15:27] {Threei} I like the gaop above resistance to fill,

[15:27] {Threei} what I don't like is rumors-based movement

[15:27] {Threei} don't know guys, discretionary thing

[15:27] {Threei} you likey - tyou takie

[15:28] {nemo} at end of day no less

[15:28] {nemo} where's Mags?

[15:28] {Threei} well, it may come to break tomorrow

[15:28] {Threei} mags decided to sit out all momos

[15:28] {Threei} SEED yesterday, NANO today

[15:28] {Threei} then he will come and cry about nothing to ttrade

[15:29] {nemo} yeah...

[15:29] {nemo} whiney bastid

[15:29] {Threei} and I will secretlt send dino boxes of beer so he puts his elbow in mags rbicage on my behalf

[15:29] {Moose} geeze

[15:29] {nemo} I know I know

[15:29] {nemo} glass houses

[15:32] {nemo} every drunk and his uncle has to be looking at that fcx wedge

[15:32] {Threei} Market Internals update at 3:30pmET

[15:32] {Threei} - NYSE volume 760M shares, about 17% below its three-month average; advancers lead decliners by 1.4:1.

[15:32] {Threei} - NASDAQ volume 1.74B shares, about 6% below its three-month average; advancers lead decliners by 1.4:1.

[15:32] {Threei} - VIX index -3.1% to just over 21.00

[15:34] {dino} i'll glady accept the beer vad

[15:34] {dino} magoo's still hunting, back friday

[15:34] {Threei} I know... beer AND pleasure of hitting magoo with elbow

[15:34] {dino} bwx

[15:34] {Threei} who could resist

[15:34] {nemo} not me

[15:35] {dino} won't be the first (or last) time

[15:35] {ilana} RIMM

[15:36] {nemo} look at Qs Ilana

[15:37] {ilana} i did

[15:37] {Threei} whe these momo movers finish this close to high, they usxusally gao up next day.. unless something bad hiots the wires overnight

[15:39] {Threei} notice interesting thing guys

[15:39] {Threei} remember how every day would end up with run to the dayu high?

[15:39] {Threei} second day in row today we finish with selloff

[15:40] {Threei} big or not, doesn't matter

[15:40] {Threei} it's a mood changer

[15:40] {larisa} 20 more minutes

[15:41] {Threei} yeah, range is narrow and we still could rally back up

[15:41] {nemo} upward wedge on aig top at 31.16 ramping from open

[15:41] {Threei} but doesn't dfeel like it's going to happen

[15:41] {Les} would like to see greater trend based mood change vad.

[15:41] {Threei} me too

[15:41] {Les} night all

[15:41] {nemo} digesting yesterday Vad

[15:42] {Threei} take care Les

[15:42] {dino} cya les

[15:42] {nemo} les ...

[15:43] {nemo} will still positive for the day

[15:47] {Threei} I can't resist the temtation

[15:47] {Moose} adios amigos

[15:47] {Threei} half lot of NANO

[15:47] {Threei} 13.05

[15:47] {Threei} stop under 12.80

[15:47] {Threei} and intend to hold it

[15:47] {Moose} see yous later

[15:47] {Threei} take vare moose

[15:48] {Threei} unless it goes back to day high today

[15:48] {ilana} overnight?

[15:48] {dino} cya moose

[15:50] {nemo} here's the rally

[15:50] {Threei} ummm

[15:50] {nemo} albeit tepid

[15:50] {Threei} modern rallies are degernerates then, lol

[15:51] {nemo} given the volume today

[15:56] {ilana} take care all

[15:56] {Threei} thank tou all

[15:56] {Threei} have a good evening, see you tomorrow

[15:56] {BillyD} cya

[15:56] {nemo} P&Q

[15:56] {larisa} bye :)

[15:57] {dino} cga

[15:57] {dino} cya larisa

[15:58] {larisa} bye dino, welcome back btw :)

[15:58] {dino} thx

[15:59] {dino} ut jst ave .69, -.06

[15:59] {dino} ut=out

[16:02] {dino} thx all, gn

[16:02] {dino} sigm drop