Feb 08 2010

Fun way to start a week. First trade of the day on BRCM was a stop for about 12 cents - and then everything we touched turned into gold. "Can do no wrong" type of day, with trades in both directions on BRCM, AMZN, VXX several times - most of them going to 1:2 and even further.

Session Time: Mon Feb 08 00:00:00 2010

[08:13] {Threei} (GR) Risk aversion being attributed to chatter that some tier 1 European banks are no longer lending to Greek banks via repo markets - dealers

[08:13] {Threei} - Greek news services reporting UniCredit and DB no longer trading with Greek banks due to collateral concerns

[08:14] {Threei} (US) Economist Joseph Stiglitz: US needs a second round of stimulus measures

[08:14] {Threei} - US housing scars will last for decades

[08:14] {Threei} - First US stimulus measures prevented a bigger economic downturn

[08:14] {Threei} - Giving into banks has not led to US economic revival

[08:14] {Threei} - China's strength partly based on education investment

[08:14] {nemo} prelude to what happens in the US cities an states

[08:16] {Threei} BRCM Introduces 65nm 3G HSPA chipset for smartphones

[08:29] {Les} HAS up premarket.

[08:29] {Les} G'day

[08:29] {nemo} It was

[08:29] {Threei} les, nemo :)

[08:29] {nemo} suspender up, Les

[08:30] {Les} hey Vad, Nemo

[08:31] {Les} You making surreptitious pointers about suspenders Nemo, makes me wonder if you're not 70?

[08:32] {Les} Papa Nemo

[08:33] {Threei} careful Les, lest you be put over papa's knee and slapped silly

[08:33] {nemo} mmmmhhhhh....where's my passport?

[08:33] {nemo} ah..

[08:33] {Les} nah. It's the shotgun hanging by the rocking chair that worries me :)

[08:34] {nemo} should be the hidden claymores lining approaches to the house

[08:40] {fernp} Good morning everybody

[08:40] {nemo} fern :)

[08:40] {Threei} fern :)

[08:44] {Les} hi gern

[08:44] {Les} fern too

[08:45] {Les} vad's fingers on a monday morn. not a good sign for the week

[08:47] {Les} anything on your list this morn vad?

[08:48] {Threei} BRCM

[08:49] {Threei} and usual suspects

[08:50] {Threei} pleasant news (not groundshaking), trades at Fri high, big offer there to take,

[08:50] {Threei} market is positive

[08:51] {Threei} as usual, I'd prefer it to consolidate, form an opening range, then break it for an entry

[08:52] {Les} cool bananas

[08:55] {Threei} getting away

[08:55] {Threei} oh well

[08:57] {magoo} morning

[08:58] {Threei} mags!

[08:59] {dino} gm all, wow cagc, glad i daytrade it and not hold

[08:59] {Threei} dino :)

[08:59] {Threei} Analysts at Goldman Sachs comment on US Budget Deficits; State that US lawmakers must use restraint in stimulus as soon as private sector is strong enough to drive growth (update)

[08:59] {Threei} - See US budget deficit rising to $1.646T, this figure is ahead of Oct 2009 estimates

[08:59] {Threei} - See further risks to further expansion of deficit levels as tax receipts are expected to be light and calls for more stimulus will be heard

[09:03] {ese} morning

[09:03] {Threei} ese :)

[09:03] {Les} hey ese, mags

[09:03] {ese} les

[09:04] {magoo} les ese:)

[09:04] {ese} 28 days and couning to italy

[09:04] {Les} weather should be nice down there by then

[09:04] {ese} mags!!!!!!!!

[09:04] {magoo} remain calm he he

[09:05] {ese} phew......ya ya....no i'm ok........

[09:09] {larisa} gm

[09:10] {Les} hi larisa

[09:10] {Threei} larisa :)

[09:10] {larisa} Les, vad :)

[09:12] {dino} cagc split it seems

[09:12] {Threei} yes

[09:13] {Threei} China Agritech Inc. Declares 2:1 stock split

[09:13] {Threei} - Effected a 2:1 forward split of its common stock on Feb 1, which will be reflected on NASDAQ beginning with trading on Mon, Feb 8, 2010.

[09:25] {lasertrev} morning

[09:25] {Threei} trev

[09:26] {ese} seems like a B flat nothing type of days so far.......

[09:26] {ese} in musician terms....thats just an ordinary tuning note........so just ordinary day so far

[09:32] {Threei} Long Setup: BRCM .50 break if stays above .40

[09:32] {dino} jst pop, thin

[09:32] {dino} nah

[09:34] {Threei} no go

[09:34] {fernp} yeah

[09:35] {Les} TM dropping. 1st support at .93

[09:35] {fernp} DELL holding on highs

[09:35] {Les} or 73 I guess

[09:38] {fernp} 1:1 DELL +.06

[09:38] {Threei} ARHX spike

[09:39] {Threei} no news

[09:39] {Threei} ATHX, sorry

[09:40] {Threei} nice spot DELL

[09:40] {Les} ATHX has support on the dailyy

[09:40] {dino} tex sm l .01

[09:41] {ese} L brcm .41

[09:41] {Les} BIIB kicked to the kerb

[09:42] {nemo} nice brcm

[09:42] {Threei} AMZN strong pullback

[09:43] {ese} out 1/2 .56

[09:43] {Threei} watch for bounce near 120, most likely a bit under it

[09:43] {nemo} .93 pivot support

[09:43] {ese} stopped remaining even .41

[09:44] {magoo} looks like it wll lose 120 vad

[09:44] {Les} long amzn .11

[09:44] {Threei} that's what I said

[09:44] {magoo} ok

[09:44] {Les} out .35

[09:45] {magoo} nice..fast

[09:46] {Les} appreciate trade structure vad with these fast moving reversals. bang. 120 stop. .10 trigger. go!

[09:46] {Threei} that's it

[09:48] {billyc} gm all happy Monday

[09:48] {Threei} billy :)

[09:48] {Les} hey billy

[09:51] {magoo} billy:)

[09:51] {magoo} there the loss 120

[09:53] {Les} lost some, regained it on amzn. bit jumpy for me

[09:53] {Threei} watch VXX for long entry on pullback

[09:53] {Threei} should drop closer to 33

[09:54] {ese} L brcm .02

[09:54] {ese} out ..16

[09:54] {Threei} nice

[09:54] {ese} +.14 man tht was fast

[09:55] {ese} surprised i got a decent fill

[09:55] {Threei} Senate bill proposing new incentives for solar rooftop installations circulating

[09:55] {Threei} - The bill proposed by Senator Bernard Sanders (NH-I) seeks "To increase the quantity of solar photovoltaic electricity by providing rebates for the purchase and installation of an additional 10,000,000 solar roofsand additional solar water heating systems with a cumulative capacity of 10,000,000 gallons by 2019."

[09:55] {ese} waitin on a .60 break though

[09:56] {Threei} Long Setup: VXX .90 break

[09:56] {nemo} Independent-socialist

[09:56] {Threei} if stays above .80

[09:56] {Threei} CSIQ UPDATE: Greener Dawn Research Initiates CSIQ with Buy, price target: $27

[09:56] {Threei} - pre-open

[09:57] {Threei} Short Setup: AMZN 120 break half lot

[09:57] {Threei} if stays below .15

[09:58] {Threei} AMZN 1:1

[09:58] {Les} nice one

[09:58] {Les} ty

[09:58] {Threei} 1:2

[09:58] {Threei} VXX 1:1

[09:59] {Les} great

[10:00] {ese} l brcm .99

[10:01] {Threei} perfect wentery

[10:01] {Les} TM consolidating around 73

[10:06] {Les} brcm b/d lod?

[10:06] {Threei} no

[10:07] {Threei} chart is rather bouncy,

[10:07] {nemo} break of 00?

[10:07] {Threei} yes

[10:07] {Threei} if market helps

[10:07] {Threei} it's like:

[10:07] {Threei} if sets up for long, I'll take it, if for short - I'll skip it

[10:08] {nemo} in

[10:08] {Les} ditto. will ave. in if market improves

[10:08] {dino} china stocks ok so far

[10:08] {ese} interesting mrkt....dn yet up.........well slowly creeping up

[10:08] {dino} jst, rino, snda, pwrd

[10:09] {dino} fsys spike

[10:12] {Threei} Short Setup: VXX .85 break half lot

[10:14] {dino} nihd sm l .50

[10:14] {Threei} VXX 1:1

[10:14] {Les} half out

[10:16] {Les} all out ty

[10:16] {nemo} 1:1 brcm

[10:16] {Threei} BRCM 1:1

[10:16] {nemo} duh

[10:16] {Les} take your medicine nemo

[10:17] {ese} i'm still in brcm .99

[10:17] {ese} stop is in at .87

[10:18] {ese} me thinks this should take off

[10:18] {ese} well........

[10:18] {ese} it goes up except when it doesn't

[10:19] {nemo} wow big lot just hit the bids in brcm

[10:19] {nemo} 129000

[10:25] {nemo} fickin, brcm

[10:25] {nemo} frickin

[10:25] {nemo} hehehehe

[10:26] {strider} watch your mouth, nemo.

[10:26] {nemo} nose too big, can't see below it

[10:26] {Les} morning strider. you're cheery today

[10:26] {strider} mirrors break when you use them?

[10:27] {nemo} nah...no reflection

[10:28] {strider} Got stuck with a consulting job, les.......I'm having to actually DO STUFF!

[10:28] {strider} It's terrible.

[10:28] {Les} screw that

[10:28] {ese} daaaaaaaaaa brcm you turd

[10:29] {dino} out nihd .87, +.37

[10:29] {Les} nice

[10:29] {dino} ty

[10:30] {dino} out tex .37, +.36

[10:33] {Les} looks like a broadening wedge brcm.

[10:36] {Les} RIMM looks ready for b/d

[10:37] {ese} is it......is it....is this the one.........?

[10:37] {ese} nooooooooooo

[10:38] {ese} daaaaaaaaaaaaaa brcm you turd

[10:38] {Les} hehe. I've lightened up and BRCM and leaving it to prove its worth. looking around for other scalps

[10:38] {Les} lightened up on BRCM

[10:38] {ese} ya might have to do the same

[10:39] {ese} so far it's just a miniscule....measly......flea bitten....no good for nuttin .10 cents

[10:40] {ese} not even that now

[10:40] {Les} Hey, some of us consider .10 reasonable profit...

[10:40] {nemo} walking a channel though

[10:40] {ese} yup

[10:41] {ese} hopefully it breaks up

[10:41] {nemo} although, last was a lower high

[10:41] {ese} ahhh well.....have already nailed it twice this morning......maybe too much to ask

[10:42] {ese} for a third

[10:43] {ese} normally .10 is good for me too Les......i'm probably gonna get bit in the ....you know what

[10:44] {ese} did this particular trade as a day trade so we'll see what happens ....wanna give it it's due

[10:46] {Les} RIMM

[10:49] {dino} neu sm l .02 wide

[10:50] {ese} ahhhhhhhhhh haaaaaaaaa!!!!!!!

[10:50] {ese} brcm baaaaaaaaaby

[10:51] {Threei} finally eh? :)

[10:51] {ese} ya

[10:51] {Threei} took its sweet time

[10:52] {ese} me thinks scalping has it over daytrading........

[10:52] {dino} amsc green for once 3i

[10:52] {Threei} 32 break feels like launching it

[10:52] {Threei} but the volatility is enormous

[10:52] {dino} feeling the same

[10:53] {dino} $2 bucks

[10:54] {Threei} here is a puzzler

[10:54] {Threei} if you believe in market breakout to the upside here, VXX short on .60 breakdown is the way to exploit it

[10:57] {Threei} so, as creepy kids in Olymic ads, reminding Children of the Corn, ask: Do you believe?

[10:59] {Les} dunno bout that, but I can't get tom waits out of my head now.

[11:00] {dino} giddy-up

[11:02] {Threei} Fed's Bullard: Could start to sell some assets in 2H10; timing still in question; a double dip recession in the US not likely

[11:02] {Threei} - Does not want to consider any further MBS purchases beyond March; does not expects mortgage rates to rise significantly as the MBS purchase program ends.

[11:02] {Threei} - With regards to Volcker rule " When Paul Volcker speaks, everyone should listen'; fixing housing market is key to regulatory reform.

[11:02] {Threei} - Any spike in inflation expectations could cause the Fed to tighten policy even if unemployment rate is still high

[11:02] {Threei} - Rising jobless claims is a worry, feels the US has seen the peak in unemployment rate

[11:02] {ese} how bout just giddy

[11:03] {Les} alright I'll take .25 for BRCM

[11:03] {Les} 1:1 for me

[11:04] {Threei} AMSC... maybe it's really time...

[11:04] {Threei} who went for VXX, 1:1

[11:04] {Threei} 1:2

[11:08] {dino} gj

[11:09] {Threei} 1:3... but I am no longer there...

[11:10] {Threei} finding it hard to stay for more than 1:2 considering volatility

[11:10] {nemo} grind up ay

[11:10] {nemo} day

[11:10] {Threei} so far yes...

[11:10] {Threei} see my problem is:

[11:10] {Threei} it grinds, moves ever so slowly,

[11:11] {Threei} then something happens

[11:11] {Threei} news, report and just because,

[11:11] {Threei} and flurry of action comes with such fury, it eliminates in seconds what you were building for hours

[11:11] {Threei} I have no slightest desire to get caught into this

[11:12] {Threei} so I prefer to sascrifice possible bigger gains for safety in most cases

[11:12] {Threei} remember last week trade for 50 cents on VXX?

[11:12] {Threei} the only reason I stayed in it so long - it went whole 50 cents with no pullback, and within like 5 minutes

[11:13] {Threei} so it's was NOT so long, and never made me nervous about possible reversal

[11:13] {Threei} Long Setup: TM .50 break half lot

[11:14] {Threei} if stays above .35

[11:14] {Threei} two-sided setup

[11:14] {nemo} yeah, got lower high

[11:17] {Les} out amsc flat.

[11:18] {Les} I'm ok for a mornings work. will take your remarks to heart and ease off until something solid arrives

[11:34] {Threei} TM, feel fee to cover

[11:34] {Threei} almost 1:2

[11:35] {nemo} amzn lows

[11:38] {Threei} bounced into shorting zone

[11:39] {Threei} if market continues down AMZN is likely to form inverted C&H

[11:39] {Threei} with .45 - .50 as breakdown

[11:39] {nemo} big stop though

[11:40] {Threei} that's why I call this spot as shorting zone

[11:40] {Threei} aggressive entry

[11:40] {Threei} need market drop as AMZN is treading near resistance

[11:42] {Threei} Short Setup: AMZN .85 if stays under 119, half lot

[11:42] {nemo} next resistance .20

[11:45] {nemo} amsc

[11:46] {Threei} .35 is Fri high AMSC

[11:46] {nemo} I missed the break anyway

[11:49] {dino} in it .00

[11:52] {Threei} and here goes sharp drop, illustrating my earlier point about staying in too long

[11:53] {nemo} yeah, but indices still haven't broken trend

[12:00] {ese} du du du du.......wha da ya think......will brcm climb any more.......opinions greatly appreciated

[12:01] {nemo} wtfk's...it's in the channel

[12:01] {Threei} IMO, uptrend is broken

[12:02] {dino} 20 sitting at 50, break and drop imo

[12:02] {nemo} if it can't break .34...done

[12:03] {Les} interesting. PM miner's at the origin of trend change

[12:04] {Threei} ACOR CNBC highlights upcoming guest to appear on CNBC

[12:07] {Threei} Long Setup: AMSC .90

[12:07] {Threei} if stays above .75

[12:07] {Threei} half lot

[12:09] {Threei} modification, .65 - .80

[12:14] {Les} s amsc .65

[12:15] {Les} out GG +.20

[12:26] {larisa} "modification, .65 - .80" was .80 long with .65 stop? Les went short confused me :)

[12:27] {Threei} yes, but he simply took the opposite side since .65 got hit before .80 did

[12:27] {Les} sorry

[12:27] {nemo} amzn staying under trend, but forming a concentric triangle

[12:30] {Les} out -.21. looks like grind up again

[12:31] {Threei} Short Setup: ACOR .20 break

[12:33] {nemo} stop .26

[12:33] {Threei} I'd prefer .30

[12:34] {nemo} downtrend right here and 200 is at .28

[12:48] {dino} bgh

[12:50] {Les} amsc at major support

[12:51] {nemo} rimm taking off

[12:52] {Threei} believe it or not:

[12:52] {Threei} Research in Motion Ltd Hearing takeover chatter circulating

[12:52] {Threei} - MSFT rumored as a potential acquirer.

[12:52] {Threei} - Rumor appears to be originating from an All Things Digital article by Kara Swisher suggesting Microsoft might want to buy RIMM, or another mobile phone company like PALM or even NOK.

[12:55] {Les} be afraid of google, be very afraid...

[12:55] {Les} .

[13:02] {Threei} VXX...

[13:02] {Threei} market starts looking like breakdown

[13:02] {Threei} VXX accordingly is a long play

[13:03] {Les} what's with AMSC

[13:04] {nemo} spy 200 at .90\

[13:05] {Les} s ACOR .18

[13:07] {nemo} spy holding the 200

[13:08] {fernp} AMZN on lows

[13:08] {Threei} ACOR 1:1

[13:08] {Les} ty

[13:09] {Threei} welcome

[13:09] {Threei} fun day... started with a stop, and everything worked like charm ever since

[13:10] {Threei} OK, I need to look up "fun" obviously

[13:12] {fernp} 1:1 AMZN

[13:16] {Les} amsc vad. .50 b/d?

[13:18] {Les} I guess so

[13:18] {larisa} lol

[13:18] {fernp} FITB holding on highs

[13:19] {Threei} lol les

[13:25] {nemo} 70.20 fcx friday close

[13:27] {Threei} anyone went for VXX, feel free to sell here

[13:45] {nemo} rimm sitting on vwap

[13:47] {ese} daaaaaa daytrading shmay trading........

[13:47] {ese} out brcm .11 +.10

[13:47] {ese} sorry .12

[13:47] {Threei} I fail to see anything wrong with it

[13:48] {ese} scalp trading is the way to go

[13:48] {ese} just bees hivin.....should have unloaded at .50

[13:48] {Threei} VXX... thgis one I'd do much beter holding

[13:49] {ese} anyway gotta go to school see you all tomorrow.

[13:49] {Threei} sold .53

[13:49] {Threei} take care ese

[13:49] {ese} see ya vad

[13:49] {Les} have fun man

[14:13] {nemo} C&H on fcx?

[14:14] {nemo} not textbook, but flirtting with that .70 resistance level

[14:33] {nemo} amzn held support at 118

[14:33] {nemo} well, maybe not

[14:34] {Threei} things are too random

[14:34] {nemo} yeah

[14:34] {dino} understatement, lol

[14:34] {Threei} I am known for sugarcoating, you know :)

[14:34] {nemo} kinda' like Les' brain :)

[14:35] {nemo} he must be cooking dinner

[14:36] {Les} lol

[14:37] {nemo} hehehehe

[14:37] {Les} aw crap yeh things are too random. bit me on the ass and took my profits.

[14:37] {Les} how many times I gotta fall for this lunchtime crap

[14:37] {nemo} it's an organic issue Les

[14:38] {Les} KGC lod

[14:40] {Les} GG lod

[14:54] {Threei} morning was nicely active

[14:54] {Threei} died now

[14:54] {Threei} familiar pattern

[14:55] {Threei} likely to become more active closer to eod again

[14:55] {nemo} yeah, we had that little drop, and everything moved back to the trend line

[14:55] {Les} s GG .61

[14:56] {fernp} ty Les, I took KGC .85 b/d

[14:57] {Les} no worries mate

[15:05] {Les} The Chicago Mercantile Exchange has taken on more short bets on the Euro than ever before in the currency's history.

[15:05] {Les} sounds like a contrary indicator to me

[15:06] {Threei} Long Setup: VXX .60 break

[15:06] {Threei} if stays above .50

[15:06] {Threei} this may be a very different case Les

[15:06] {Les} yes fundamentals suggest so don't they

[15:07] {fernp} have a good evening everybody. See u all tomorrow

[15:08] {Les} ciao

[15:08] {Threei} take care fern

[15:08] {Threei} 1:1 VXX

[15:18] {Threei} can you believe AMSC

[15:18] {Threei} I can't

[15:20] {Threei} 1:3 VXX

[15:22] {Les} out gg . +.10

[15:24] {Les} db WFC?

[15:25] {Threei} no

[15:25] {Threei} if anything, it's a breakdown with market help

[15:36] {Threei} ok... do you believe in market selloff into eod?

[15:36] {nemo} no

[15:36] {Threei} no play for you then

[15:36] {nemo} oh

[15:37] {nemo} well....o.k. then

[15:37] {nemo} yes

[15:37] {nemo} vix again

[15:37] {Threei} yeah

[15:40] {Threei} TM Toyota plans to suspend production of Sai and Lexus hybrids in Japan later this week, and continue to idle the plants for at least one week - Nikkei news

[15:40] {Threei} - will affect production of about 4,000 vehicles.

[15:40] {Threei} Market Internals update at 3:30pmET

[15:40] {Threei} - NYSE volume 740M shares, about 8% below its three-month average; decliners lead advancers by 2.2:1.

[15:40] {Threei} - NASDAQ volume 1.68B shares, about 4% below its three-month average; decliners lead advancers by 1.5:1.

[15:40] {Threei} - VIX index -0.50% to just under 26.00

[15:41] {Threei} if you trusted me, you have over 1:1 on VXX

[15:42] {nemo} didn't know you called it

[15:42] {Threei} I didn't "call call" it... I mentioned a play for the market selling

[15:42] {nemo} so, just hop on kinda' play

[15:42] {Threei} and .70 - .80 range was beyond obvious - IF yo believed in market selling

[15:42] {Les} l vxx .02 stop .90

[15:43] {nemo} oy vay

[15:43] {Threei} rather playing general direction withoiut clearly defined setup

[15:43] {Threei} that's a bit high entry les

[15:43] {Threei} not that it's invalid

[15:43] {Threei} it has right to exist

[15:43] {nemo} yeah, no volume, hammer at previous peak,

[15:44] {Threei} just a bit narginal so to speak

[15:44] {Les} missed your call. was on potty break

[15:44] {Threei} too much information {G}

06[15:44] * nemo slaps Les around a bit with a large toilet plunger

[15:50] {Les} out +.08 at .09 some big sell orders at .10

[15:50] {Threei} brweak of this offer is beyond tempting

[15:50] {Threei} too bad we are so close to eod

[15:50] {Les} +.07

[15:50] {Threei} it was reasonable decision Les

[15:50] {Les} wow plowed straight through that resistance

[15:51] {Threei} yes but that close to market closing time, don't regret it

[15:53] {Les} alright. again too much money gambled away in random trading. something that has to be sorted out

[15:53] {Threei} we had what, just one stop today? first trade

[15:56] {Threei} yup, as far as I could find

[15:58] {Threei} okay guys, thank you all

[15:58] {Threei} have a good evening, see you tomorrow

[15:58] {nemo} gnite

[15:58] {Les} thank you. GN

[15:58] {billyc} see you guys tomorrow thanks for the calls good day

[15:58] {Threei} :)

Feb 05 2010

Beautiful strong finish to the week, with 4 trades working for nice gains including VXX for 50 cents in minutes; two stops for 10 and 7 cents, and then a few discretionary trades making the day almost stellar. Some of other trades were SYK short, X long, RIMM long.

Session Time: Fri Feb 05 00:00:00 2010

[08:10] {Threei} Procter & Gamble Co CEO: Consumer sentiment is getting better, but unevenly; more worried about the US now than ever before in his career

[08:10] {Threei} - US gov must provide more certainty for businesses

[08:10] {Threei} (US) Preview: Jan change in Nonfarm payrolls and change in manufacturing payrolls due at 08:30ET (13:30 GMT)

[08:10] {Threei} - Change in Nonfarm Payroll: +15K expected versus -85K prior (Note the range of estimate are from -100K to +100K).

[08:10] {Threei} - Change in Manufacturing Payrolls: -20Ke expected versus -27K prior (Note the range of estimate are from -30K to -10K). The last positive reading in manufacturing came back in Nov 2007.

[08:11] {fernp} Good morning everybody

[08:13] {Les} morning fern

[08:13] {Threei} fern, les :)

[08:13] {Les} or afternoon where we are

[08:13] {fernp} Les :-)

[08:13] {fernp} yes, good afternoon here

[08:14] {Les} hey vad

[08:16] {Threei} take a look at X daily

[08:17] {Threei} lsoing major support

[08:17] {Les} yep

[08:18] {Les} got a large stop X, burnt me a few times. I be careful with the setups on it

[08:18] {Threei} this kind is much better play on bounces than on breakdowns, iunless it forms very narrow range

[08:19] {Les} ok

[08:19] {Les} aa in same boat

[08:19] {Threei} and JOYG

[08:19] {Threei} AA is more safe

[08:19] {Les} joyg is ugly

[08:20] {Les} the abyss awaits

[08:20] {Threei} {JOYG} I want second opinion

[08:20] {Les} lol

[08:26] {Threei} (US) Insight on Jan Payrolls

[08:26] {Threei} ***Census affect on Payrolls: Starting with today's data, payroll numbers will be skewed higher by the Federal government hiring thousands of census workers. Speculation is the the Jan nonfarm would be boosted by 20K from census hirings. Early last year, the Obama Administration announced that as part of the stimulus package, 1.4M workers would be hired for the 2010 Census. By comparison in the first five months of 1990 and 2000, the census bureau hired 330K and 515K workers, respectively, and workers rolled off the payrolls over the next few months.

[08:27] {Threei} According to analysts, at the peak of census hiring this year, payrolls could be bolstered by up to 700K m/m, which could temporarily push down the unemployment rate by a full percentage point.

[08:28] {Threei} ***Annual Benchmark Revisions: The Bureau of Labor Statistics (BLS) will simultaneously release its annual benchmark revisions for payrolls. There is much speculation that the BLS could announce substantial downward revisions for the first three months of 2009 when layoffs were most severe. A preliminary estimate by the BLS issued last October forecasted benchmark revisions would cut the payroll numbers by 824K as of the end of March. Additional revisions for the last three quarters of 2009 could add to this total.

[08:30] {Threei} *(US) JAN CHANGE IN NONFARM PAYROLLS: -20K V +15.0KE; CHANGE IN MANUFACTURING PAYROLLS: +11K V -20KE

[08:30] {Threei} - Prior Nonfarm Payrolls revised from -84K to -150K

[08:30] {Threei} - Prior Manufacturing Payrolls revised from -27K to -23K

[08:30] {Threei} US) JAN UNEMPLOYMENT RATE: 9.7% V 10.0%E

[08:31] {Threei} *(US) BUREAU OF LABOR STATISTICS (BLS): CENSUS HIRING IMPACT ON NONFARM PAYROLLS +9K

[08:32] {Threei} Whisper numbers had been +20K census effect jobs

[08:32] {Threei} - Normalized Nonfarm payrolls -29K v +15Ke

[08:32] {Threei} (US) Benchmark revision 902K v 824Ke

[08:34] {Les} up down up down

[08:41] {Les} Ford catching the brake contagion

[08:41] {Les} recall of 15k hybrids for software fix

[08:42] {Threei} Ford Motor Co To update software for brake systems on Milan and Fusion hybrids; some drivers may "perceive the condition as loss of brakes"

[08:42] {Threei} - Ford is announcing a customer satisfaction program to update the software of the regenerative brake system of some 2010-model Ford Fusion Hybrids and Mercury Milan Hybrids.

[08:42] {Threei} - We have received reports that some drivers have experienced a different brake feel when the hybrid's unique regenerative brakes switch to conventional hydraulic braking. While the vehicles maintain full braking capability, customers may initially perceive the condition as loss of brakes.

[08:42] {Threei} very carefully worded

[08:44] {Les} ARG being bought out for approx. $60 a share

[08:44] {Threei} I remember some obscure article by some engineer in auto industry, a few years ago

[08:44] {Les} it $62 premarket

[08:44] {Les} can we make money off this difference?

[08:44] {Threei} not really

[08:45] {Les} k

[08:45] {Threei} saying that move to hybrids was likely to introduce some new and unforeseen problems with cars

[08:45] {Threei} listing most vulnerable parts

[08:45] {Threei} brakes were number 1

[08:46] {Les} I assume because of regenerative braking

[08:46] {Les} perhaps the plug in idea presently being pushed by TM is to fix this issue?

[08:47] {Threei} no idea, I am no auto engineer

[08:47] {Threei} on ARG

[08:47] {Threei} it's not being bought, it's been offered that price

[08:48] {Les} ok

[08:48] {Threei} its reaction on the offer is whole other issue

[08:48] {Threei} Airgas, Inc. Confirms receipt of unsolicited proposal from Air Products; Board appears to continue to believe offer undervalues ARG

[08:48] {Threei} - Confirmed that it has received an unsolicited proposal from Air Products at $60/shr. Airgas' board will review the proposal with its financial and legal advisors. Airgas shareholders are advised to take no action at this time.

[08:48] {Threei} - Airgas' board, after consultation with its financial and legal advisors, unanimously determined that Air Products' proposals were not in the best interests of Airgas or its shareholders, as they grossly undervalued Airgas. In responding to the proposal received in December, the Board also noted that a significant portion of the consideration was in the form of Air Products stock, which has historically underperformed Airgas stock.

[08:49] {Les} I love this game

[08:49] {Threei} so the situation is: 60 offer is on the table, company thinks it's worth more, thus the question is wherther market agrees

[08:49] {Threei} which takes us back to normal chart reading

[08:50] {Les} so traders could take it higher if they think to benefit?

[08:50] {Threei} where this 60-82 spread is nothing more than atention-getter

[08:50] {Threei} sure

[08:50] {Threei} especially if it appears that there are other suitors

[08:50] {Threei} and bidding war may ensue

[08:50] {Threei} 60-62 spread, sorry

[09:06] {dino} gm all

[09:06] {Threei} dino :)

[09:06] {larisa} gm :)

[09:06] {Les} hey dino

[09:06] {Threei} larisa :)

[09:06] {Les} larisa

[09:07] {larisa} vad, les :)

[09:11] {Les} c&h ARG?

[09:11] {Les} long ARG .44

[09:11] {Threei} just JBE

[09:12] {Les} stop .35

[09:14] {Threei} how about that

[09:14] {Les} we aiming for 63 ARG?

[09:14] {Threei} we? I wouldn't touch it with 10 ft pole

[09:14] {Les} :)

[09:15] {Les} out +.20

[09:18] {dino} vad see amsc?

[09:19] {Les} :( ARG

[09:19] {Threei} yeah

[09:19] {dino} hmmm

[09:19] {dino} tm up

[09:19] {Threei} and no news again

[09:19] {Threei} (US) SEC's Schapiro: SEC to consider proposals to restrict short selling in coming weeks

[09:20] {Les} aaaaaaaargh!

[09:21] {dino} why oh why

[09:28] {dino} lol, the reason the household rate survey dropped to 9.7% was that the total population estimate was increased in january. under the old estimate, the rate would be 10.6%

[09:28] {dino} politics as usual

[09:28] {Threei} yup, birth/death revision

[09:29] {Threei} AMSC all the way back

[09:31] {fernp} FITB .40 break, Vad?

[09:32] {Threei} I'd like to skip early breaks

[09:32] {Threei} they didn't work too well last few days

[09:32] {fernp} good idea :-)

[09:32] {Threei} don't want to start with a hole and work to fill it

[09:34] {Les} cat

[09:35] {Threei} RIMM

[09:35] {Threei} watching for bounce

[09:36] {Threei} sheesh

[09:36] {Threei} started typing .40 break long, lol

[09:36] {Threei} wait for more dump now

[09:37] {Threei} should be entry under .30

[09:37] {Threei} closer to .20 even

[09:37] {Threei} here we go

[09:38] {billyc} gm all happy Friday

[09:38] {Threei} .10 break long

[09:38] {Threei} stop under 66

[09:38] {fernp} gm billy

[09:38] {Threei} billy :)

[09:38] {Threei} 1:1

[09:39] {Threei} 1:2, I am out

[09:41] {Threei} Long Setup: X .50 half lot

[09:41] {Threei} stop under .30

[09:41] {Threei} 1:1

[09:42] {Threei} 1:2

[09:42] {dino} amsc sm l .25

[09:43] {dino} .26

[09:46] {Les} had to give IB a reboot. unresponsive. missed some good trades

[09:46] {Threei} aww

[09:46] {Threei} X was a good one

[09:46] {Threei} easy to read and execute

[09:46] {billyc} what is aww

[09:47] {Threei} just "aww" as in "argh" or "ouch" :)

[09:47] {Les} yeh I tried to catch CAT on the way down

[09:47] {dino} ads sm l .40

[09:47] {Threei} btw, look at classic double bottom, second one is within BBs while first one pierced lower envelope, with volume dropping on second

[09:47] {Threei} my favorite reversal setup

[09:49] {Threei} fern, see FITB?

[09:49] {Threei} happy we skipped that

[09:49] {Les} sorry Vad, we talking X?

[09:49] {Threei} yes

[09:50] {Les} ok 5 minute db

[09:50] {Les} thanks got it

[09:51] {dino} amsc stopped

[09:52] {Threei} getting ionterested in X again

[09:52] {Threei} no clear setup yet

[09:54] {Threei} struggling with desire to reverse and short it

[09:54] {Les} s x .21

[09:54] {Threei} maybe I shouldn't fight it

[09:55] {Threei} .30 was better trigger if short Les... chasing

[09:55] {Threei} it works but

[09:55] {Les} half out .10

[09:56] {Les} all out .02

[09:56] {Threei} wtg

[09:56] {Threei} on decision to short and exit mostly

[09:56] {Threei} entry was a bit off

[09:57] {Les} y it was. but pivot point overhead suggested strong reversal not likely so I took it

[09:57] {Threei} it's valid, my only point of contention is:

[09:57] {Threei} it's a volatile stock, entries like this increase risk

[09:58] {Threei} easy to get shaken out on "accidental" move

[09:58] {Les} sure

[09:58] {Les} X has done that to me before

[09:59] {Les} payback for lousy day yesterday

[09:59] {Threei} Long Setup: VXX .22 half lot

[10:00] {fernp} stop?

[10:00] {Threei} .10 for scalp, 32 for day trade

[10:00] {Threei} this is play for market drop

[10:00] {dino} fdx sm l .48

[10:01] {Threei} market breaks down, VXX can go 40 cents in a hurry

[10:02] {Threei} if SPY loses 106, just watch what VXX does

[10:02] {Threei} tries to go even as SPY upticks

[10:03] {Threei} 1:1 for scalpers

[10:03] {Threei} IMO, more to come

[10:03] {Les} i've added to position as daytrade

[10:04] {Threei} SPY under 106

[10:04] {Threei} half out

[10:05] {Threei} 1:1 for daytraders

[10:05] {Les} ok half out

[10:06] {Threei} 1:2, 1/4 more out

[10:06] {Threei} [10:01] {Threei} market breaks down, VXX can go 40 cents in a hurry

[10:06] {Les} all out

[10:06] {Les} I'm finished for the day

[10:06] {Threei} exactly 40 cents here, lol

[10:06] {dino} fdx to flat

[10:07] {dino} out

[10:08] {Threei} out last part VXX

[10:08] {Threei} +.50

[10:09] {dino} gj

[10:09] {billyc} Thanks

[10:09] {Threei} welcome guys

[10:10] {Les} yeh thanks Vad. big change from yesterday

[10:10] {Threei} nice start to the day

[10:10] {Threei} for ZLes it's finish even, lol

[10:10] {Threei} let's all be Les and go home?

[10:11] {Les} if trend continues nicely won't be afraid to ask for more

[10:11] {Les} don't want a rotten bounce to put me out of profits

[10:11] {Threei} missed X bounce...

[10:11] {dino} darn chickened out fdx

[10:11] {Threei} was very tempted, looking at this oiverextended series of red bars on 1 min

[10:12] {Threei} but there was no clear setup, and discipline tramped conviction

[10:12] {Threei} trumped?

[10:12] {Les} trampled?

[10:14] {dino} snda gap fill nov

[10:14] {Les} finnies looking weak

[10:17] {dino} snda sm l .15

[10:17] {fernp} MET, Vad, breakdown?

[10:18] {Threei} probably

[10:18] {Threei} I just want to find an entry into bounce

[10:18] {Threei} rather than break itself

[10:18] {Threei} closest resistance is .80 - .85, right?

[10:18] {fernp} yes

[10:19] {Threei} let's see if we can find very low risk entry

[10:20] {Threei} ok

[10:20] {Threei} .60 breakdown if stays under .85

[10:21] {Threei} .80 break, sorry

[10:22] {dino} crm sm l .01

[10:24] {Threei} out

[10:24] {fernp} yeah

[10:24] {Threei} 6 cents riisk vs 16

[10:24] {fernp} true

[10:30] {Threei} New data released this morning shows that the American people overwhelmingly reject the basics of Keynesian economics. Only 11% believe more deficit spending is needed to spur the economy while 70% say deficit cutting is the answer.

[10:30] {Les} stupid hicks

[10:30] {Les} they need to be disciplined some more

[10:30] {Threei} yeah, don't they know spending all you can and can not is the answer to everything

[10:31] {Les} wfc lod

[10:32] {Threei} Market Internals update at 10:30amET

[10:32] {Threei} - NYSE volume 315M shares, about 25% above its three-month average; decliners lead advancers by 1.7:1.

[10:32] {Threei} - NASDAQ volume 645M shares, about 30% above its three-month average; decliners lead advancers by 1.4:1.

[10:32] {Threei} - VIX index +0.3% to just over 26.00

[10:34] {Les} tm returns to hod

[10:34] {Threei} WFC is tempting short on this bounce

[10:34] {Threei} .40 - .56 resistance

[10:34] {Les} fas up

[10:35] {Les} market wants up

[10:35] {Threei} .40 -.45, sdprry

[10:37] {dino} out crm .66, +.65

[10:37] {Threei} wtg

[10:37] {Les} sweet

[10:37] {dino} ty

[10:38] {ese} morning sorry i'm late..........whats up

[10:38] {Threei} ese :)

[10:38] {Les} big bucks ese, big bucks

[10:38] {Threei} we are... nice morning with good size wins

[10:38] {ese} cool.....just as it should be.....gj all

[10:39] {Les} s TM .99 aggressive short

[10:41] {Les} and stopped. shoulda quit while i was ahead

[10:42] {Threei} don't do these impulsive trades having no setups

[10:42] {Threei} espwcially on volatile stocks

[10:42] {Threei} sometimes thwey have their place on what is called "risk based seytups"

[10:42] {Threei} but it's never the case with volatile ones

[10:42] {Threei} look how being picky works for us

[10:43] {Threei} why ruin it out of pure desire to trade something?

[10:44] {Les} ok

[10:47] {Threei} Long Setup: TM .40 break half lot

[10:47] {Threei} if holding .20

[10:48] {dino} out snda .28, +1.13 on spike

[10:48] {Les} wow

[10:48] {dino} lucky

[10:48] {Les} always

[10:49] {Threei} wtg dino

[10:49] {Threei} killing it today

[10:51] {dino} ty

[10:52] {dino} fsys sm l .50

[10:55] {Les} syk Vad?

[10:56] {Threei} contradiction between charts

[10:56] {Threei} intraday is long, daily is short

[10:56] {Threei} I am staying away

[10:57] {Les} ok

[11:01] {larisa} I do not understand :) can you elaborate vad how or when or of do you connect intraday and daily in your mind while choosing short time trade? Cycles are so different on those.

[11:01] {dino} fsys stopped -.30

[11:02] {Threei} intraday chart is consolidation at the high

[11:02] {Threei} which is rather long for me.

[11:02] {Threei} Daily however shows a stock bouncing from today's lows right into yesterday's low

[11:03] {Threei} where it meets strong resistance

[11:03] {larisa} oh, so you look at 2 last bars on daily? I see, it makes sense

[11:03] {Threei} which is rather a great short entry pint

[11:03] {Threei} point

[11:04] {ese} hmmmmmm would have liked to have caught that brcm move

[11:05] {Threei} not last two bvars only, Larisa, 'one more thing is general trend

[11:06] {Threei} and in my view it's in downtrend, so the bounce into resistance again suggests short

[11:10] {ese} l brcm .50

[11:12] {larisa} people that can trade off several timeframes always fascinate me :) those 3D view systems confuse the heck out of me :)

[11:12] {Les} I like the logic of it though

[11:13] {larisa} yeah wait for indicators on several timeframes to line up, then take the trade..

[11:13] {Threei} I think you are overcomplicating it Larisa

[11:13] {larisa} especially if you scalp. but it is just me

[11:13] {Threei} look at it this way

[11:14] {Threei} daily shows stock consolidating above major support for a few days,

[11:14] {Threei} intraday shows DBI at this same level

[11:14] {Threei} timeframes coincide and give powerful short signal on the break, right?

[11:15] {Threei} in the case with SYK, they conflict

[11:15] {Threei} I like first kind of situations,

[11:15] {Threei} that's why I run for instance 2 days break scans along with JBE/DBI

[11:16] {Threei} second kind of situations maske the trade less convincing

[11:16] {Threei} imagine third kind:

[11:16] {Threei} stock spikes sharply into yesterday's low,

[11:16] {Threei} makes dounble top there,

[11:16] {Threei} sets up short.

[11:16] {Threei} To me it will be again powerful signal

[11:16] {Threei} since both time frames show the same direction

[11:17] {Threei} makes sense?

[11:19] {larisa} major support resistance levels on daily do work , it was not actually my question :) it sounded like you validate trend on daily with trend on intraday. Wanted to know how you do that

[11:20] {Threei} did I answer that?

[11:21] {larisa} yes :)

[11:21] {Threei} Toyota Motor Corp Announces global quality task force

[11:21] {Threei} - Task Force to:

[11:21] {Threei} 1) Improve Quality Inspection Process - Toyota will once again inspect every process, while verifying the causes that led to the recalls, including quality in design, production, sales and service.

[11:21] {Threei} 2) Enhance Customer Research - Toyota will enhance the customer information research offices in each region to collect information faster.

[11:21] {Threei} 3) Establish an "Automotive Center of Quality Excellence" in key regions to further develop quality management professionals

[11:21] {Threei} 4) Support from Outside Experts - Toyota will seek confirmation and evaluation from outside expertsin line with the industry's best practicesof its newly improved quality control management, based on the above improvements.

[11:21] {Threei} 5) Increased Communication - In addition, Toyota will work to increase the frequency of communication with regional authorities.

[11:21] {Threei} 6) Improve regional autonomy - To provide customers with satisfying products in each and every region, Toyota has long promoted the autonomy of its regional subsidiaries. We intend to further enhance this autonomy, listen carefully to each and every customer and improve quality.

[11:28] {ese} out brcm.72 +.22 5k

[11:29] {Threei} beauty

[11:29] {Threei} wtg

[11:29] {ese} i'd like to concur with the big bucks sinario you all were talking about earlier

[11:29] {larisa} lol

[11:29] {Threei} I'd say, you did so with a bang

[11:30] {ese} tks

[11:30] {Threei} Short Setup: SYK 51 break

[11:31] {Threei} .15 is invalidation for now,

[11:31] {Threei} if sets up not going over .10 it can be used as a stop level

[11:32] {Les} hey that was my call

[11:40] {Threei} 1:1 on Le's call

[11:41] {Les} well I have to concede I only thought of it after getting stopped out at the top. I liked your logic but didn't apply it strategically

[11:42] {Threei} let me fix about 25 major world worries before question of call authorships enters my list of priorites :)

[11:43] {Les} :P

[11:46] {dino} fast selling

[11:53] {Threei} (IA) US Official: Major powers today discussed potential policies towards Iran; including pressure and diplomacy (related GLD XAU/USD )

[12:01] {Threei} Long Setup: GILD 46 break if stays above .90

[12:02] {Threei} Market Internals update at 12:00pmET

[12:02] {Threei} - NYSE volume 560M shares, about 27% above its three-month average; decliners lead advancers by 2.9:1.

[12:02] {Threei} - NASDAQ volume 1.18B shares, about 27% above its three-month average; decliners lead advancers by 1.7:1.

[12:02] {Threei} - VIX index +1.25% to just under 26.50

[12:06] {nemo} AWIAV?

[12:06] {fernp} GILD

[12:06] {nemo} where

[12:06] {Threei} 46

[12:06] {fernp} 46 break

[12:07] {Threei} but refrain

[12:07] {nemo} ams break .20 stop under .05

[12:07] {fernp} .89 stop

[12:07] {nemo} amsc

[12:07] {Threei} we have 4 wins under out belt, solid buffer

[12:07] {Threei} you don't

[12:07] {nemo} amsc

[12:07] {nemo} just got back

[12:10] {Threei} also highlights of the day were fight with Les over copyright for the call (he won) and with Larisa over my trading approach making any sense (she won)

[12:11] {Les} oh you're in a provocative mood today I see

[12:11] {Threei} today?

[12:11] {Les} kill anything Nemo?

[12:12] {Threei} it's simple Les... trading is fairly lonely profession - aside of seminars where I get my chance to converse with actual people, I don't have a lot of communication.. so I can't afford to miss any chance to have fun in online forem

[12:13] {Threei} fun of course as I see it, which is admittedly not a very common form

[12:13] {nemo} anyone would be more appropos

[12:13] {Les} oh good I can see we are going to get on like a house on fire

[12:13] {Les} I'm surrounded by bored housewives and french speaking village idiots

[12:14] {nemo} bored housewives?

[12:14] {Les} thus I have little output for my mischievous nature

[12:14] {Threei} no go GILD

[12:14] {fernp} stopped

[12:14] {nemo} so 4 for 5

[12:14] {Threei} weird one...

[12:14] {nemo} lunchtime

[12:15] {Threei} came to my attention a few days ago when it was very strong while market slipped, look at daily

[12:15] {nemo} amsc doing exact same thing

[12:15] {nemo} can you short tm today

[12:15] {Threei} ever since it slipped, even whehn market was gpoing up

[12:15] {nemo} strong volume

[12:15] {Threei} yes

[12:16] {Threei} TM is shortable again

[12:16] {Threei} I guess they just run out of inventory briefly yesterday

[12:17] {Threei} 4 fpor 6 actually, we had one more stop for whole 7 cents

[12:28] {dino} hedge fun blow-up rumors; blue gold capital, 1.5 b, oil bets gone wrong, liquidating

[12:28] {Threei} Earlier drop in crude oil partially attributed to report circulating that $1.5B commodity hedge fund may be in trouble

[12:28] {Threei} - Chatter seems to be eminating from a media report this morning that Blue Gold Capital has lost 11% so far this year due to the decline in crude prices.

[12:32] {Threei} AMSC band is really oiverstretched on daily

[12:32] {Threei} when it finally snaps back, shoud be multipoint move in a hurry

[12:33] {nemo} volume low today

[12:33] {Threei} yes, was decreasing yesterday, about half of the first two days of selling

[12:34] {Threei} - Follow up 12:30: Reportedly BlueGold Capital denies rumors they have suffered big losses.

[12:40] {Threei} (US) ECB's Trichet: ECB will NOT hold any special meeting this weekend

[12:40] {Threei} and I did NOT have sex with that woman

[12:40] {fernp} PFG, Vad?

[12:41] {Threei} 50/50 fern

[12:41] {fernp} ok

[12:43] {Threei} - Denies rumors that circulated earlier that the ECB would convene a special meeting to discuss debt issues facing certain EU members like Greece, Portugal, and Spain.

[12:43] {Threei} (UK) UK Fin Min Darling: BoE decision to pause QE is "absolutely correct" - Canadian TV interview (related GBP/EUR GBP/USD GBP/JPY GILTS )

[12:44] {Threei} Fed's Bernanke now scheduled to testify Feb 10 with regards to the unwinding of liquidity measures (related TLT SHY )

[12:48] {Threei} Larisa... nothing happens... may I?

[12:48] {Threei} humor-free joke?

[12:48] {Threei} please?

[12:48] {larisa} is it tuesday?

[12:48] {Threei} I think so

[12:49] {larisa} go ahead then

[12:49] {Threei} guess who is on TV!

[12:49] {nemo} Kirsten Dunst

[12:50] {fernp} AMR strong

[12:50] {Threei} never liked a choice of her for Spiderman

[12:52] {Threei} I love the chart fern... not so much the range

[12:52] {Threei} a bit too narrow

[12:53] {Threei} (US) President Obama: jobs data today suggest US is climbing out of recession

[12:53] {Threei} - Says there has been an encouraging improvement, which is "cause for hope"

[12:53] {Threei} - Expects unemployment numbers to fluctuate

[12:53] {Threei} - Comments on small business loans

[12:53] {fernp} PFG 1:1

[12:53] {Threei} wtg

[12:54] {Threei} jobs data today suggest US is climbing out of recession?

[12:54] {Threei} how?

[12:54] {Threei} by hiring census workers?

[12:55] {fernp} AMR holding on highs

[12:55] {nemo} Did anybody get RIMM when I left yesterday? Ended up going down .50 cents

[12:57] {Threei} no... we were too overwhelmed by grief caused by your leave

[12:57] {nemo} glad my feet are off the ground

[12:58] {Threei} I also was too busy trying to provoke ZLes to slap you when you return

[13:00] {Threei} NYMEX: Oil market operating as usual (related CME USO )

[13:00] {Threei} feels like "move on, nothing to see here"

[13:01] {nemo} $ up strong, economies look sick, why would it go up?

[13:01] {ese} most certainly a question i can't answer

[13:01] {Threei} there were all kinds of tumors earlier

[13:02] {nemo} try that again

[13:02] {Threei} about USO having impact on prices, about hedge fund unwinding

[13:02] {Threei} lol

[13:02] {Threei} rumors

[13:02] {ese} "its notta tumma" which celeb?

[13:02] {nemo} Ahhnold

[13:02] {nemo} Kindergarten Cop

[13:03] {ese} corrrrrrrrrrrrect!

[13:03] {nemo} FCX forming downward wege from yesterday

[13:03] {nemo} wedge

[13:03] {ese} these are just not my type of days.......

[13:04] {nemo} Who sang "These are the good old days"

[13:05] {nemo} ese?

[13:05] {ese} hmmm i know but i don't know

[13:05] {nemo} Carly Simon

[13:05] {ese} i wouldn't have quess her

[13:06] {nemo} for what product was the song used in a commercial?

[13:06] {ese} y a got me

[13:06] {nemo} fcx broke support

[13:06] {patience} .

[13:06] {nemo} Heinz ketchup

[13:07] {ese} lol

[13:07] {ese} go figure

[13:07] {nemo} kinda' like the ridiculousness of an actor being elected president

[13:07] {nemo} tm support .35

[13:08] {ese} thats a hmmmmmmmm certainly a point to ponder

[13:09] {Threei} Dell Inc US 9th Circuit Court of Appeals allows class action case against Dell to move forward

[13:09] {Threei} - Class action claims Dell sold defective notebook computers.

[13:09] {Threei} - Court rules that the district court wrongly granted Dell's motion to force arbitration proceedings.

[13:09] {nemo} looking at TM makes me feel like a mole thinking about popping his head up in a whack-a-mole game

[13:10] {Threei} too many developments

[13:10] {nemo} yeah, and support at .30

[13:10] {ese} lol

[13:10] {nemo} fcx woulda' been good though

[13:14] {nemo} TM too

[13:19] {dino} crm sm l .80

[13:24] {dino} stop is .48

[13:26] {ese} welllllllllll........ make$1k then off to the next job......"A Day in The Life"....ehhhhh....Beatles

[13:27] {ese} see ya monday

[13:27] {larisa} bye ese

[13:27] {Threei} take care ese

[13:27] {Threei} selling returns

[13:27] {Threei} and we are looking at another -200 day most likely

[13:27] {dino} cya es gj

[13:42] {Threei} ugh

[13:42] {Threei} VXX, for some reason hesitated for so long around .80 - .85, I decided to skip long call

[13:43] {Threei} market was dropping, but VXX didn't follow

[13:48] {dino} looking for 9770 dji, 1036 s/p

[13:53] {Threei} AMSC... where does the ridiculousness becomes too ridiculousZ?

[13:54] {nemo} well, you have a C&H

[13:57] {nemo} big bid .80 cat

[13:57] {nemo} amzn vwap .87

[13:57] {nemo} cat bid pulled fell

[13:59] {Threei} -165

[13:59] {nemo} my IQ

[14:00] {Threei} [13:27] {Threei} and we are looking at another -200 day most likely

[14:00] {dino} yeah

[14:00] {Threei} Market Internals update at 2:00pmET

[14:00] {Threei} - NYSE volume 835M shares, about 27% above its three-month average; decliners lead advancers by 6.7:1.

[14:00] {Threei} - NASDAQ volume 1.71B shares, about 27% above its three-month average; decliners lead advancers by 2.4:1.

[14:00] {Threei} - VIX index +8.5% to just under 28.50

[14:00] {nemo} yeah, don't figure longs are holding over the weekend

[14:01] {dino} since jan 19th highs; dji -8.3%; ndx -9.7%; s/p -9.2%. much more and new bear market takes over

[14:02] {nemo} look at UUP

[14:03] {dino} two day drop -5.4% s/p

[14:03] {Threei} this VXX pullback should give an entry somewhere

[14:03] {Threei} I don't believe selling is done for the day

[14:04] {Threei} it has smell of another wave of panic coming

[14:05] {dino} crm rinsed

[14:06] {nemo} amzn at 200

[14:06] {dino} cagc, jst, tm

[14:06] {dino} fcx

[14:07] {dino} intc

[14:07] {nemo} fcx just broke downtrend

[14:07] {nemo} 200 is at .40

[14:07] {nemo} .40 is vwap also

[14:08] {Les} out SYK +.55

[14:08] {Les} AWIAV?

[14:08] {Threei} no

06[14:08] * nemo slaps Les around a bit with a large coma inducing sheila slap

[14:09] {Les} you hit like a girl

[14:09] {nemo} hehehehe

[14:09] {dino} lol

[14:09] {nemo} that's all you need for Swiss Aussie's

[14:10] {dino} chk wants dec gap

[14:10] {nemo} fcx at support

[14:11] {nemo} 116 support for amzn

[14:11] {Les} first time I tried an ese trade

[14:11] {Les} let SYK run with a stop in place

[14:12] {Les} I like the way VAd thinks

[14:12] {Threei} thinks?

[14:12] {Threei} me?

[14:12] {Les} works

[14:12] {Threei} kidding?

[14:12] {Les} you know what i mean

[14:13] {Les} what was enlightening was how SYK respected the 200 as resistance

[14:13] {Les} you said yesterday

[14:13] {Les} MA's give indication whether stock can pass them or not

[14:14] {Les} SYK refused to pass the 200

[14:14] {Threei} or any other support or resistance, yes

[14:14] {Les} so I went out to dinner leaving a stop just above the 200

[14:15] {Les} and came home to a nice surprise

[14:15] {Les} I thank you for marrying up daily charts with intraday for decision making

[14:15] {Threei} what a difference systematically structured trading makes

[14:16] {Les} well I'm pretty tanked

[14:16] {Les} so I'll thank you all

[14:16] {Les} and see you monday

[14:16] {Les} ciao and ty

[14:16] {Threei} take care ZLes, have a good weekend

[14:19] {dino} cya

[14:26] {nemo} quite the run for fcx

[14:27] {Threei} VXX... time or not

[14:40] {dino} see that and missed it

[14:42] {dino} ioc wants gap

[14:43] {billyc} see you guys thanks for the calls have a great weekend

[14:46] {dino} cya bill

[14:46] {Threei} take care billy

[14:49] {nemo} well, that just took out some stops in amzn

[14:59] {Threei} Preview: Dec Consumer Credit due at 15:00ET

[14:59] {Threei} **consensus expectation: -$10.Be v -$17.5B prior

[14:59] {Threei} - Note: November was the 10th straight month of credit contraction

[15:00] {Threei} *(US) DEC CONSUMER CREDIT: -$1.7B V -$10BE- Prior revised from -$17.5B to -$21.8B

[15:01] {Threei} dino, look this:

[15:01] {Threei} SP) Spain Prime Minister Zapatero: Will defend the EURO

[15:01] {Threei} - Notes that all the EU countries support the Eurozone countries

[15:01] {Threei} is it end of Euro?

[15:02] {dino} maybe so, maybe so

[15:03] {Threei} reminds me hysterical "We will protect communism till last drop of our blood" - when nobody attacjed it

[15:04] {dino} reminds me of "we do not have a liquidity problem"

[15:04] {Threei} and "we do not need additional capital"

[15:04] {dino} right

[15:07] {dino} pretty good bounce

[15:07] {dino} scanners solid green

[15:07] {Threei} wow

[15:07] {Threei} shorted VXX .40

[15:07] {dino} ads finally works

[15:08] {Threei} moved my eyes to make sure whole lot got filled, moved them back, it's 20 cents lower

[15:08] {Threei} and of course covered too soon

[15:08] {Threei} idiot, lol

[15:08] {dino} out on spike to .31, +.91 all dayer

[15:08] {Threei} wtg

[15:08] {Threei} whoa

[15:08] {Threei} what's happening?

[15:09] {Threei} is it credit news??

[15:09] {dino} ndx green

[15:09] {dino} ppt

[15:10] {dino} ppt makes me think of a pbr

[15:11] {dino} wow, no comments on that

[15:12] {nemo} pabst blue ribbon?

[15:12] {dino} indeed

[15:12] {dino} i've been going retro lately, pbr, schlitz, schaeffer

[15:12] {Threei} sorry, reference is lost on me

[15:12] {Threei} foreigner, ya know

[15:12] {nemo} nothing you want to familiarize yourself with...trust me

[15:13] {dino} actually, they aren't bad, i think it's that they dropped the marketing ball

[15:13] {nemo} please...

[15:13] {dino} now canadian beer favorite is the moosehead

[15:14] {Threei} yikes

[15:14] {Threei} who dared to call that a beer

[15:14] {dino} you never had it? good beer, bad name

[15:14] {Threei} I did

[15:14] {Threei} hated every drop of it

[15:15] {Threei} but I m not a lager person

[15:15] {nemo} interesting...lower credit contraction did this, but debt levels are still high

[15:15] {dino} hmmmm, i guess i am blue collar at heart

[15:15] {Threei} I a ale... dark sorts are favorite

[15:15] {Threei} ales, stouts

[15:15] {dino} i like all kinds as long as cold

[15:15] {Threei} hehe

[15:16] {Threei} not moving to England any time soon, I assume

[15:16] {dino} no

[15:16] {Threei} did we miss AMSC?

[15:16] {nemo} yep

[15:17] {dino} yes, forgot about it

[15:20] {fernp} Have a happy weekend everybody. see you all on moday.

[15:20] {dino} fdx sm l .24

[15:21] {dino} cya fern

[15:21] {Threei} taje care fern, have a great ojne

[15:30] {nemo} bull flag break coming, or...

[15:30] {Threei} after these swings, all bets are off

[15:30] {Threei} anything's possible

[15:30] {nemo} yeah...walk off into the sunset

[15:30] {dino} exactly

[15:32] {dino} pfwrd blood, back to crash lows

[15:32] {dino} whr big beat, and big fall

[15:32] {dino} pfwd

[15:33] {dino} dji green

[15:44] {nemo} so, does market close above 10k

[15:44] {Threei} nope

[15:44] {Threei} some selling should come in now

[15:44] {Threei} not big but still

[15:47] {Threei} CFTC Commitment of Traders Report: USD longs rose to highest level in 11 months

[15:47] {nemo} Wanna' buy a bridge?

[15:48] {Threei} (CA) Canada Fin Min Flaherty: currency imbalances are concerning for G7

[15:48] {Threei} - Says some Asian currency exchange rates are rigid

[15:48] {Threei} - Reiterates there will be no comunique after this weekend's G7 meeting

[15:48] {Threei} - G7 should look at moral hazard at banks

[15:48] {Threei} - Says there are concerns at G7 over Greece

[15:48] {Threei} - G7 has already had preliminary discussions over the Eurozone debt

[15:48] {dino} out fdx .50, +.26

[15:48] {Threei} here is my selling

[15:49] {Threei} .77 - .97 VXX scalp on that conviction

[15:50] {Threei} Market Internals update at 3:30pmET

[15:50] {Threei} - NYSE volume 1.17B shares, about 40% above its three-month average; decliners lead advancers by 1.6:1.

[15:50] {Threei} - NASDAQ volume 2.36B shares, about 35% above its three-month average; decliners lead advancers by 1.2:1.

[15:50] {Threei} - VIX index +3.75% to just over 27.00

[15:54] {Threei} ok guys, thank you all

[15:55] {Threei} have a great weekend, see you on Monday

[15:55] {Threei} glad we finished the week on such good note

[15:57] {dino} take care. calling it a day too. magoo grab a beer

[15:58] {dino} ironically, decent day for me

[15:58] {Threei} tell that old alcoholic, time to get back to work

[15:58] {Threei} market volarility returns

[15:58] {dino} lol, he had some blown water pipe issues on a rental, not in good mood

[15:59] {nemo} 10014

Feb 04 2010

Not profitable but a good nonetheless day. We started with a few stops, then retreated and dug ourselves out of the hole with 4 winning trades in a row. Couple small stops with some little wins made a day slightly negative - but the discipline and cold-blooded approach exercised were enough to feel good about our trading today.

Session Time: Thu Feb 04 00:00:00 2010

[08:23] {Threei} (US) Preview: Initial Jobless Claims due at 08:30ET

[08:23] {Threei} - Expectations for initial claims are 455Ke v prior week at 470K (range seen from 420K to 480K)

[08:23] {Threei} - Continuing claims seen at 4.581Me v prior week at 4.602M (range seen from 4.400M to 4.630M)

[08:29] {nemo} V weeak this morning after good report

[08:30] {nemo} selling in the spy

[08:30] {Threei} *(US) INITIAL JOBLESS CLAIMS: 480K V 455KE; CONTINUING CLAIMS: 4.602M V 4.581ME

[08:30] {Threei} - Prior Initial Claims revised higher from 470K to K

[08:30] {Threei} - Prior Continuing Claims revised from 4.6...more... (related SHY SPY EUR/USD USD/JPY USO RTH )

[08:30] {nemo} selling in qs

[08:32] {strider} Whoever has the job of estimating claims is a bit too optimistic.........of course he has a secure gu'mint job, so things look pretty rosy from his purview.

[08:36] {Les} yeh well wait until they revise the present figures downwards...

[08:36] {Les} good afternoon

[08:36] {Threei} good morning

[08:36] {fernp} Good morning everybody

[08:36] {strider} Oh, good.....we already know the afternoon is going to be good.......you're a useful guy to have around, les.

[08:36] {nemo} yeah, and do the yearly reset...will probably be down at least another million

[08:37] {Les} lovely afternoon here strider. cold but sunny

[08:37] {Les} hi fern

[08:37] {fernp} les :-)

[08:38] {Threei} fern :)

[08:39] {strider} Not especially cold here, 31F, overcast, foggy, snow on the ground from last week.

[08:39] {strider} And lots of good deals on Toyotas.

[08:39] {Les} :)

[08:39] {Threei} this wionter we had about 30 minutes of snow, staying on the ground for about 15 m in after snowfall

[08:40] {Les} where is that pretty mountain you take photos of vad?

[08:40] {strider} So you're well prepared for the Olympics?

[08:40] {Threei} and I still don't see any deals offered by Toyota here

[08:40] {Les} the one covered in snow

[08:40] {Threei} that' s Mt Baker

[08:40] {Threei} Olympic Peninsula

[08:40] {Threei} US side

[08:41] {Threei} they truck the snow in strider

[08:41] {strider} I saw a news report on it the other day......we're having to import snow, I think.

[08:41] {strider} yeah.

[08:42] {strider} Snow Importer/exporter.......maybe that's an up and coming job.

[08:42] {strider} dino does a little of that, I think.

[08:42] {Threei} lol

[08:43] {strider} Vad, any thoughts on whether TM will recover quickly, or base for awhile?

[08:43] {Threei} this is highly liquid situation

[08:44] {Threei} kind of hard to make forecasts when new developments are coming in at the rate of 3-2 a day

[08:44] {Threei} remember yesterday's situation when chart formed bounce,

[08:44] {Threei} and govt official opened his mouth and said "stop driving Toyotas"?

[08:45] {strider} yeah...

[08:45] {Threei} of course he quickly retracted that

[08:45] {Threei} but if you are long, and get caught in 2 dollars drop

[08:46] {Threei} In general, this kind of things doesn't go asway quickly

[08:46] {Threei} it's a good case of "disaster never comes alone"

[08:46] {Les} ?

[08:46] {Les} you mean with TM only

[08:46] {Threei} yes

[08:46] {Threei} first it's floormats, then it's pedal,

[08:46] {strider} ok. I want to pick some up at some point for longer hold, but don't want to get in before I have to.

[08:47] {Threei} then Prius brakes,

[08:47] {Les} ok. understand why TM forecasts full year profits this morning

[08:47] {Threei} now there are suspicions that electrics and software is to blame

[08:47] {strider} or rather need to.

[08:47] {Threei} Senate hearings,

[08:48] {Threei} investigations,

[08:48] {strider} 5min chart shows nice bearish triangle.

[08:48] {Threei} when did Toyota knew what,

[08:48] {strider} Lions and tigers and bears, oh my!

[08:48] {Threei} expect all kinds of lawsuits

[08:48] {Threei} competitors gearing up to steal as many Toyota buyers as possible

[08:49] {strider} right.

[08:49] {Threei} residual values dropping

[08:49] {Threei} etc etc

[08:49] {Threei} it's a clear case of mounting problems

[08:49] {strider} TEOTWAWKI

[08:50] {Threei} unless you decode that next 5 seconds, I'll answer with JIORTWMKDQW

[08:50] {strider} The end of the world as we know it.

[08:50] {Threei} ah :)

[08:50] {Threei} for Toyotas it's rather BOHICA

[08:50] {strider} You're obviously not a serious conspiracy buff.

[08:50] {Threei} no, but they amuze me

[08:51] {strider} That why you keep nemo around?

[08:51] {Threei} I don't... I simply can't get rid of him

[08:51] {Les} MDT getting its butt kicked

06[08:51] * strider slaps nemo around a bit with a large Toyota.

[08:51] {strider} maybe that'll work.

[08:52] {Threei} - 9 cents?

[08:53] {Les} sorry, after hours yesterday

[08:54] {Les} well come to think about it

[08:54] {Les} $1 isn't really a butt kicking is it?

[08:54] {Threei} I expected this whole debacle with Toyota to help with my car shopping, either by giving me great deals for their cars or by pressuring Nissan to lower their price... not happening so far

[08:54] {Les} I am guilty of hyperbole

[08:54] {Les} SAAB's should be cheap

[08:54] {nemo} using logic in the market place....duh

[08:55] {ese} morning

[08:55] {Les} Good Morning Nemo :D

[08:55] {Threei} well, for 43 dolar stock it's not particularly impressive

[08:55] {nemo} G'day

[08:55] {Threei} ese :)

[08:55] {Les} your usual cheery self

[08:55] {Les} hi ese

[08:55] {nemo} dude

[08:55] {ese} dude vad les

[08:56] {Threei} not really interested in SAAB...

[08:56] {Les} after seeing toyota yesterday, I need to reappraise what butt kicking means to a stock

[08:56] {Les} was thinking of you and SAAB

[08:56] {Threei} were you around when BSC went under Les?

[08:57] {Les} no

[08:57] {Threei} I had a good fortune to issue a short call at 40

[08:57] {dino} gm all

[08:57] {nemo} some of the dot.bomb stocks...omfg

[08:57] {Threei} (I think it was 40)

[08:57] {Threei} dino :)

[08:57] {Les} hi dino

[08:57] {Threei} it dropped to under 20 if I remember corrected in the next 2 minutes

[08:57] {Les} kaching

[08:57] {strider} Didn't know you did options, vad.

[08:57] {Threei} someone commented "I never made so much money that quickly on 100 shares"

[08:58] {ese} dino

[08:58] {Threei} wasn't options

[08:58] {Threei} I meant call to short it

[08:58] {strider} oh...gotcha.

[08:58] {Les} ok. I'll save "butt kicking" for such events

[08:59] {Les} was thinking of you and SAAB cause FBI got involved

[08:59] {Les} apparently Spyker was partly owned by Russian billionaire with ties to mafia

[08:59] {Threei} my oreferred result would be to get a few thou kicked diown on my favorite Murano

[09:00] {Threei} alternatively, latest iteration of RAV4 looks not bad in its top line configuration... but a bit too... ummm... pedestrian

[09:01] {Les} never like that one. Why not Honda 4x4?

[09:01] {Threei} don't see a model in their lineup that I like

[09:01] {Threei} Pilot is too big

[09:01] {Threei} CRV is too rigid

[09:01] {Les} yeh the CRV

[09:01] {Threei} Crosstour is too low

[09:02] {Threei} sits too close tio the ground I mean

[09:03] {Threei} I disliked RAV's previous versions, they were on a smallish side... latest one is good size

[09:04] {nemo} girl's car

[09:04] {Threei} RAV??

[09:04] {ese} Landrover vad......very distictive

[09:04] {Threei} lol

[09:04] {ese} distinctive

[09:04] {nemo} mechanical nightmares

[09:05] {Les} yeh I hear landrovers are expensive to maintain

[09:05] {Les} but we used to thrash the defender series out in the bush. good truck

[09:05] {ese} ya they can be nemo especially the ones produced by Ford

[09:06] {strider} My next car will probably be a Ford Escape.

[09:07] {strider} My next motorcycle may be a mini-Cooper.

[09:07] {dino} ma bit of blood

[09:08] {dino} get a real suv vad, dodge durango

[09:08] {Threei} hehe

[09:09] {strider} I got one of those, nemo....a '99, 5.9 liter.

[09:09] {dino} the name alone says get out of the way

[09:09] {dino} me too strider

[09:09] {Threei} no kidding

[09:09] {dino} '06

[09:09] {strider} mine's been a good car. Needs a rear main seal right now......may have the tranny rebuilt while it's out.

[09:10] {strider} 130k miles.

[09:11] {Les} you guys are nuts. We own one of these - http://en.wikipedia.org/wiki/Citro%C3%ABn_C3

[09:11] {dino} i like them

[09:11] {strider} I pull a 7 x 14 box trailer with mine sometimes...7-8000 lbs no problem.

[09:12] {Threei} I'd have to exhale to squeeze into it Les {G}

[09:12] {strider} damn frenchies.

[09:12] {dino} i pull lawnmowers and 4 wheelers, same no issues on power

[09:12] {nemo} makes a nice door stop les

[09:13] {dino} only comp0laint, had to buy tires in december, wow $150 ea.

[09:13] {billyc} gm all

[09:13] {strider} I'd like to have a Ford Excursion diesel, but kind of hard to find anymore.

[09:13] {Threei} AMSC Wunderlich Securities Initiates AMSC with Buy, price target: $50

[09:13] {Threei} billy :)

[09:13] {strider} or is it the expedition?

[09:14] {strider} I get the names confused.

[09:14] {dino} watching ads, amsc, cacc, ioc, ma

[09:14] {Threei} Wunderlich Securities is obviously as puzzled about AMSC as we aree

[09:14] {nemo} spy an qS look poised for a rop

[09:15] {nemo} drop

[09:15] {dino} so is dino research

[09:15] {nemo} watched "Defiance" last night...good movie

[09:15] {Threei} so is Threei - Thinkless-Tank

[09:16] {Threei} aka as TTT

[09:16] {strider} vad, would you take a look at CELM. Holding overnight from 4.67. Should I put out an offer now, or wait till after open......based on uptrend yesterday.

[09:16] {strider} Or maybe just hang on and see how the day goes for it.

[09:16] {strider} It's an IPO...this is the first interest in it.

[09:16] {Threei} I don't see any news on it

[09:17] {larisa} gm all :)

[09:17] {Threei} larisa :)

[09:17] {Threei} no idea strider, sorry

[09:17] {Threei} it has no history, no chart, no news

[09:17] {Threei} it can do anything

[09:17] {strider} yep.

[09:17] {Threei} I just have nothing to go of

[09:18] {strider} information...much overrated.

[09:18] {Threei} it is... but in absence of it we at least have charts

[09:18] {Threei} and there is no even that on this one

[09:19] {Threei} larisa, my apologoes but:

[09:19] {Threei} guess who is on tv

[09:20] {larisa} at least before you did not ask me personally :)

[09:20] {Threei} no, question is still to general population

[09:20] {Threei} aplogies are to you personally

[09:20] {strider} sell 1/2 at 5.11.

[09:21] {Les} Natalie Imbruglio

[09:21] {Threei} and hey, you can see how this word goes against my nature

[09:21] {Threei} can't spell it right twice in a row

[09:22] {dino} fsys?

[09:22] {Les} damn Larisa, you killed this game!

[09:22] {Les} no one answers...

[09:23] {Les} and good morning :)

[09:23] {Threei} upgrade with 44 target dino

[09:23] {strider} OK. I'll guess. William of Ockham?

[09:23] {Threei} I like Les's choice more

[09:24] {lasertrev} gm

[09:24] {Threei} trev :)

[09:24] {strider} yeah, vad, but concise is nice.

[09:25] {Threei} TM lost support at .30

[09:25] {strider} Anyway, would prefer Natalie Portman.

[09:25] {Threei} weant to watch AMSC more close today

[09:26] {dino} me too

[09:26] {Threei} yesterday's spike near close shows that selers are not that confident anymore, and buyers have their chance

[09:27] {Threei} at some point this nonsense will be over, and run-up will be impressive

[09:28] {dino} gap 33.22

[09:28] {dino} filled yesterday

[09:30] {dino} fsys something up

[09:31] {dino} heck of a gap open

[09:31] {Threei} Short Setup: WFC .90 break

[09:31] {Threei} if stays under 28

[09:31] {nemo} amsc at support

[09:33] {Threei} TM NHTSA (US auto regulator) to open formal investigation of Toyota Prius brake issue

[09:35] {Threei} CYTX Strength attributed to media report of positive study results for Cytoi stem cell therapy

[09:35] {Threei} Long Setup: BCRX .60 break

[09:37] {Threei} WFC no worky

[09:37] {dino} cacc bit wide

[09:37] {Threei} CYCC Roth Capital Initiates CYCC with Buy, price target: $7

[09:37] {Threei} that's some target

[09:38] {Threei} ese, could be your type of stock

[09:38] {ese} in and out brcm .40 / .49 +.09

[09:38] {ese} sorry vad which one

[09:38] {ese} cycc

[09:38] {Threei} yeah

[09:39] {ese} was concentrating on brcm

[09:39] {ese} will have a look

[09:40] {ese} yup

[09:40] {strider} stop brcm?

[09:40] {strider} .55?

[09:40] {Threei} (US) Preview: Dec Factory Orders due out at 10:00ET

[09:40] {Threei} **consensus expectation: 0.5%e v 1.1% prior

[09:40] {Threei} CNLG spike

[09:40] {ese} definitely my type

[09:42] {ese} stec stalking at .96

[09:42] {strider} what's your stop brcm, vad?

[09:42] {Threei} strider?

[09:42] {nemo} rimm verticle

[09:42] {Threei} I've never called BRCM

[09:42] {strider} bcrx

[09:42] {dino} amsc sm l .20

[09:42] {strider} sorry

[09:42] {Threei} oh

[09:42] {Threei} under .50

[09:42] {strider} a vad-ism

[09:44] {Les} small s TM .59

[09:44] {Les} out .26 +.30

[09:44] {Les} .29

[09:45] {Threei} wtg

[09:47] {ese} stec invalidated or me

[09:47] {dino} gj

[09:48] {Threei} TM looks like ready to lose 71

[09:49] {Threei} held this time

[09:50] {ese} l cycc .35

[09:50] {dino} ioc gap fill

[09:50] {nemo} bcrx looking short now

[09:53] {nemo} cat at major support

[09:54] {dino} ups sm l .90

[09:55] {dino} greece, portugal, spain, california, dominos

[09:56] {dino} could likely break the euro (cali excluded)

[09:56] {Les} CAT b/d?

[09:56] {Les} 52 or lod?

[09:57] {Threei} 52

[09:57] {Threei} BCRX stopped... 1 cent shy of 1:1

[09:58] {Les} s CAT .99

[09:58] {Les} half out .89

[09:58] {Threei} over 1:1 CAT

[09:59] {Les} letting other half ride a bit longer

[09:59] {Les} stop b/e

[10:00] {Threei} *(US) DEC FACTORY ORDERS: 1.0% V 0.5%E

[10:00] {Les} stopped

[10:01] {Les} AMSC 33 B/D?

[10:01] {Les} has it consolidated long enough?

[10:01] {Les} too late

[10:01] {Threei} yes but not really valid setup anyway

[10:02] {Les} yes I remember that a few ticks does not make consolidaton

[10:02] {Threei} and too sharp drop into support just before that

[10:02] {Les} ok

[10:03] {fernp} AFFX, any read Vad?

[10:03] {ese} out cycc stopped .29 -.06

[10:03] {Threei} not really fern

[10:04] {fernp} ty

[10:04] {Les} cat coming back down

[10:06] {dino} amsc stopped

[10:10] {Threei} TM, good news this time?

[10:12] {fernp} BCRX breakdown, Vad?

[10:12] {Threei} don't chase

[10:12] {Threei} .40 was

[10:13] {Threei} WFC justy had to stop us out before working, did it

[10:14] {nemo} .20 major support for fcx

[10:19] {dino} fcx gap fill

[10:20] {nemo} 10:14] {nemo} .20 major support for fcx

[10:20] {dino} sm l .50

[10:21] {dino} stop is .19

[10:23] {Threei} Long Setup: RIMM .55 if holding above ,45

[10:25] {Threei} what is it, one of those "why did I bother to wake up" days?

[10:25] {nemo} Eqzaktly

[10:29] {nemo} So, we've basically retraced the rally

[10:29] {Les} $ up

[10:31] {Threei} Long Setup: CAT 52 break

[10:31] {Threei} if stays above .90 for scalpers, .85 for day traders

[10:32] {Threei} 1:21 for scalpers

[10:32] {Les} ty

[10:32] {Threei} 1: 1 for daytraders

[10:34] {Threei} Toyota puts first estimate on the debacle: $2 B

[10:34] {nemo} going long is torture today

[10:39] {Threei} looking at daily,

[10:39] {Threei} we retraced the rally, but is it double bottom or further breakdown?

[10:40] {Threei} part of the clue will be in today's close and volume

[10:40] {nemo} your the one with the 3rd eye

[10:40] {Les} TM looks like it wants to go long

[10:40] {ese} l affx .26

[10:40] {Threei} used to bem until Larisa beat me up for another not funny joke

[10:41] {nemo} not the one-eye?

[10:41] {Threei} no, just back to norm

[10:41] {ese} out 1/2 .33 +.07

[10:42] {dino} ads sm l .25

[10:43] {Les} l CAT .12. stop 52

[10:43] {Les} AMSC returning to lod

[10:44] {ese} out in full .36

[10:47] {fernp} HIG breakdown, Vad?

[10:47] {Threei} I think so

[10:48] {Threei} .65 resistance to [lace stop above

[10:48] {Les} amsc lod b/d

[10:50] {dino} outy fcx .25, +.75

[10:50] {larisa} gj

[10:50] {dino} ty

[10:51] {Threei} HIG if triggers, should be capable of more than scalp with any market help

[10:52] {Threei} nothing but air for good 40-50 cents under

[10:52] {fernp} ok

[10:52] {Threei} Short Setup: WFC .47 break

[10:54] {Threei} cover half under .40

[10:54] {Threei} scalpers be happy

[10:55] {fernp} out HIG ty Vad

[10:55] {fernp} missed WFC

[10:57] {Les} out CAT +.12

[10:58] {nemo} pulling teeth day

[10:58] {Threei} who promised evcery day would be easy?

[10:59] {Threei} die WFC

[10:59] {Threei} 1"2

[10:59] {Threei} cover 1/3 more

[10:59] {Threei} ok, three wins in a row make it easier to breathe

[11:01] {Threei} stop to .45 for the last piece

[11:03] {fernp} watching QQQQ 43 breakdown

[11:03] {Threei} premier of one of Canadian provinces has his heart surgery today - in the USA

[11:03] {nemo} yeah, saw thaat a couple of days ago

[11:03] {Threei} opponents of health care bill applaud

[11:04] {dino} too long of a wait in canada

[11:05] {Threei} adustment on WFC:

[11:05] {nemo} stop hig

[11:05] {Threei} stop to abobe .40,

[11:05] {Threei} and possible long entry .41 if holding above .35

[11:05] {Threei} nemo... say what?

[11:06] {Threei} HIG hit 1:1

[11:06] {nemo} oh well

[11:06] {nemo} ba teeth day

[11:06] {Threei} you may decide not to take profit there, but how come stop is not trailed?

[11:07] {nemo} read wrong

[11:07] {Threei} WFC 1:1 on long side

[11:07] {Threei} that's 4th one, and the one that puts me at flat for the day

[11:08] {nemo} yeah, I'm flat too

[11:10] {Les} nice to hear that. me too

[11:10] {Les} see. I can keep up with Nemo if I really, really, really trie

[11:10] {Les} try

[11:10] {strider} I'm sort of concave

[11:11] {Threei} great... now I have to fight myself, with all the remarks about bar set so low and other nasty stuff...

[11:11] {Les} hehe. taxi time, back later

[11:11] {nemo} what...?

[11:11] {nemo} Hey dino Pennsylvania debating bankruptcy

[11:12] {Threei} dunno... I guess Les is telling us he trades from the cab he drives, buying and selling while traffic light is red

[11:14] {dino} not pa

[11:15] {strider} NY AG Cuomo brings Martin Act charges against Bank of America ex-CEO, CFO

[11:15] {strider} Reported by CNBC

[11:15] {nemo} Harrisberg, sorry

[11:15] {dino} philadelphia maybe

[11:16] {dino} if the ease up on the natural gas drilling, pa could become the next texas

[11:16] {dino} marcellus shale, biggest find to date

[11:17] {nemo} yep

[11:17] {nemo} I love how the unions won't give in on anything anywhere...just raise taxes and pay them

[11:18] {fernp} QID

[11:20] {Threei} Reportedly draft Senate bill proposes retroactive 50% tax on 2009 bonuses above $400K at financial firms that got bail out money (related XLF )

[11:20] {Threei} retroactive tax... is there any law left in this country?

[11:20] {Threei} is it me or quotes down?

[11:21] {nemo} they always pass retroactive taxes

[11:21] {strider} I'm OK here

[11:21] {nemo} I've got to reboot, LASER STB'd on me an I can't get it running again

[11:22] {nemo} oh, finally came back

[11:22] {Threei} yes, mine too

[11:23] {nemo} should we lynch trev?

[11:25] {Threei} I vote yes - just because since when do we need a reason for that?

[11:25] {nemo} true...but is he up in canada too?

[11:25] {nemo} LASER STB again

[11:25] {Threei} yes

[11:26] {nemo} makes perfect sense the way this day is going

[11:26] {Threei} lol

[11:26] {dino} i believe w/amt, they already pay about 40%

[11:26] {Threei} come on, nemo, we just dug ourselves out of the hole, why not be thankful we can't dig a new one

[11:27] {fernp} QID any read, Vad?

[11:27] {Threei} that being said,

06[11:27] * Threei slaps lasertrev around a bit with a large case of executor being out

[11:27] {nemo} Trev...Did Vad tell you about trev about my DISGRUNTLED POSTAL WORKER FANTASY LIST?

[11:27] {strider} hey trev I need you quick..dcc

[11:27] {nemo} I might as well start cleaning my guns!

[11:27] {Threei} fern, looks worth a try but my quotes are off

[11:28] {fernp} ok, mine are fine

[11:28] {nemo} that's putting it mildly

[11:28] {larisa} anybody need quotes?

[11:29] {fernp} quoteserver 15 is working here, fwiw

[11:30] {larisa} I can not even connect to laser

[11:30] {Threei} right

[11:30] {strider} I can't either. Just had to call trev to get me out of 2 positions.

[11:30] {Threei} quotes that were open before executor lost connection work

[11:30] {Threei} but can't switch to any other

[11:30] {strider} that's why I didn

[11:30] {strider} t kjnow it sooner.

[11:31] {dino} anyone needs quotes, give me symbol

[11:31] {strider} I've got another feed....

[11:31] {fernp} quotes are wooking here fine

[11:32] {strider} al-quaeda did it.

[11:32] {fernp} watchig DELL, MSFT, AAPL, MON, FEED

[11:32] {fernp} works fine

[11:37] {Threei} judging by SPY that I still can see, QID starts woprking fern?

[11:37] {strider} indeed. Both my trades were working.

[11:38] {nemo} you got Bohica'd

[11:38] {strider} don't know my status. Trev is going to call me back.

[11:38] {Threei} oh guys, relax, will ya

[11:38] {Threei} how often does it happen?

[11:38] {nemo} I have no alcohol

[11:39] {fernp} Qs broke 43

[11:39] {dino} big mistake

[11:39] {Threei} lol

[11:39] {nemo} I'm going to have a tantru

[11:39] {nemo} tantrum

[11:39] {fernp} my 1:1 is here

[11:39] {Threei} wtg

[11:40] {nemo} thanks for rubbbing it in fern

[11:40] {fernp} sorry guys, but here everything works fine

[11:40] {Threei} europians cvould be on different server farm

[11:41] {fernp} yeah, remote accounts are different

[11:41] {nemo} I'm in

[11:42] {nemo} now that's interesting, only my "X" account vad

[11:42] {fernp} nemo thanks for rubbbing it in fern

[11:42] {Threei} ssme here

[11:42] {strider} Just came back up...............

[11:42] {fernp} i like it, nemo, i like it lol

[11:42] {strider} closed out both for a profit.

[11:42] {Threei} so things are not that bad

[11:43] {nemo} so...fern has a little edge to that gentlemanly demeanor

[11:43] {strider} it was taking quite awhile to close them out.

[11:44] {nemo} fcx near lows

[11:48] {Threei} TM bounced into resistance

[11:48] {Threei} if trendline holds, should drop from here

[11:49] {Threei} with it's colstility nailing exact entries is rarely possible

[11:49] {Threei} .55 was resiastnce for stopp placement, entry was a bit fuzzy

[11:49] {dino} qcom sm l .55

[11:49] {nemo} wow...original

[11:50] {dino} stop lod

[11:50] {Threei} colstility?

[11:50] {Threei} that was supposwed to be volatility

[11:51] {nemo} yeah...I figured...but that was one of your better (worse) ones

[11:51] {Threei} lol

[11:51] {Threei} I am striving for excellence

[11:51] {Threei} and new achievements

[11:51] {nemo} confusion is not a worthy achievement

[11:52] {Threei} who says I am confused

[11:52] {Threei} I am not even lost, except on Tusdays

[11:52] {nemo} it's what you create among the minion

[11:53] {Threei} ok

[11:53] {Threei} Short Setup: TM .40 break

[11:53] {Threei} if stays below .55

[11:54] {Threei} half lot please

[11:57] {Threei} that .41 bid will decide the fate if this trade

[11:57] {Threei} if taken, should drop like a stone

[11:58] {Threei} come on sellers, give IBSS all he wants

[12:01] {Threei} alternatively, may we get some govt opfficial saying "no morwe totyota in this country"?

[12:01] {Threei} he can retract it 45 minutes later

[12:01] {Threei} 4-5 min

[12:01] {nemo} Toyota employs alot of americans

[12:01] {dino} out ads .65, +.40

[12:01] {Threei} should be enough for usa to get 5 bucks

[12:02] {Threei} hey, yesterday's suggestion to stop driving them was no less idiotic

[12:02] {Threei} did it stop them?

[12:02] {nemo} that's it

[12:02] {Threei} oh well

[12:02] {fernp} no go

[12:02] {nemo} whoa, maybe not

[12:02] {Threei} Market Internals update at 12:00pmET

[12:02] {Threei} - NYSE volume 535M shares, about 22% above its three-month average; decliners lead advancers by 12.7:1.

[12:02] {Threei} - NASDAQ volume 1.27B shares, about 38% above its three-month average; decliners lead advancers by 5.1:1.

[12:02] {Threei} - VIX index +15.25% to just under 25.00

[12:03] {nemo} did you actually mean No "Les" idiotic?

[12:04] {Threei} Les, feel free to slap him silly

[12:04] {dino} but les is more

[12:05] {nemo} More idiotic Dino?

[12:05] {strider} Question, vad. After entry on TM, a really nice ascending triangle developed. Do you ever exit the position because the chart start looking like a fade of your position?

[12:05] {nemo} sure strider...he's tightened stops and scratched positions before

[12:05] {Threei} I may, but in this case volume did not confirm the bullish formation

[12:06] {Threei} it was mostly about that bidder

[12:06] {strider} k

[12:14] {Threei} EU) EuroGroup's Juncker: Spain and Portugal are not a risk to the EuroZone; not expecting a public statement on FX

[12:14] {Threei} hmm

[12:14] {nemo} TM could have trouble between here and 85

[12:14] {nemo} .85

[12:15] {dino} sounds familiar, remembering back when c, bs, etc were not at risk

[12:15] {Threei} exactly my point dino

[12:15] {Threei} providing "hmmm" makes a point :)

[12:16] {Threei} when they start denying without being asked directly...

[12:19] {dino} few days ago greece was not in trouble

[12:19] {nemo} wasn't the mortgage crisis contained?

[12:19] {Threei} US Energy Sec Chu: Treasury energy grants should be extended (related USO UNH GRID FAN TAN )

[12:23] {nemo} looking at tm for possible short on pull back to 85 area

[12:23] {nemo} .85

[12:32] {nemo} resistance area of .85 on amsc

[12:33] {Threei} I asm a bit at loss about it

[12:33] {nemo} loss about what?

[12:33] {Threei} situation with TM

[12:33] {Threei} see,

[12:33] {nemo} oh, yeah, I mean't tm

[12:33] {nemo} duh

[12:33] {Threei} everything I hear about events development indicates its troubles as as far from over as my dancing skills from Bolshoi balerina

[12:34] {nemo} sorry...went over my head

[12:34] {Threei} and all my experience with this kind of drops tells me,

[12:34] {dino} it just may take time to fall 3i

[12:34] {Threei} this has a lot of room to downside

[12:35] {Threei} it's ok nemo, read couple times

[12:35] {nemo} o.. short .75 break .85 stop, half lot?

[12:36] {strider} nemo, what is o..?

[12:36] {nemo} o.k. sorry TM

[12:36] {Threei} what I am driving at is:

[12:36] {Threei} evferything in me says it will drop and drop and drop

[12:36] {nemo} no pun intended over toyota?

[12:37] {nemo} it is hugging the 200 ma

[12:37] {Threei} and we will see it so low, today's prices will seem like heaven for it

[12:37] {Threei} but I don't see cleasn short setup right now,

[12:37] {Threei} and its volatility and this neverending stream of news makes it very hard to stick woth position

[12:38] {dino} there are better worlds

[12:38] {Threei} I guess

[12:47] {Threei} AMSC, so far todays volume is way down vs those twqo days of selling

[12:48] {Threei} just making observations for the future

[12:50] {dino} watching it too

[12:50] {dino} feels like b-day print coming on dji, been awhile

[12:52] {dino} watching, ads, amsc, cagc, crm, gld (strange w/sovereign risk issues), ma

[12:53] {Les} 18:04 Threei Les, feel free to slap him silly

[12:53] {Les} ? I'm listening

[12:54] {Threei} he made a remark just prior to that

[12:55] {Les} MS .76 b/d?

[12:55] {Threei} totally

[12:58] {Les} cat b/d

[12:58] {Les} large stop

[12:59] {Threei} White House Press Sec Gibbs: May see a revision in monthly data on unemployment that may show jobs growth worse than previously thought

[12:59] {nemo} cat back to support

[12:59] {nemo} May?

[12:59] {nemo} May?

[12:59] {nemo} MORON

[13:00] {Threei} { morons} what did we ever do to you that you find it necessary to insult us like this?

[13:00] {Les} hehe smart enough to admit it but nothing more

[13:00] {nemo} fcx testing lows

[13:00] {Threei} - Note: Gibbs likely referring to the scheduled benchmark revisions due out with tommorow's Nonfarm payrolls

[13:00] {Threei} - US must determine how to create economic and jobs growth that is not dependent on easy credit

[13:01] {Threei} excuse me... WHAT??

[13:01] {Les} lol

[13:01] {nemo} so,

[13:01] {nemo} MORON

[13:01] {Threei} that's all this administration tried and continues trying to do, job wise

[13:01] {Threei} including latest suggestions

[13:01] {Les} It's rather monty python isn't it

[13:02] {nemo} There's a penguin on the telly?

[13:02] {Threei} TM To recall Prius in Japan and the US - Nikkei

[13:02] {Threei} mama

[13:03] {Threei} told you... this is neverending stream of bad news, mounting each other

[13:04] {Threei} ***Note: 2/4 NHTSA (US auto regulator) to open formal investigation of Toyota Prius brake issue.

[13:04] {Threei} how is it not in 60s yet??

[13:04] {nemo} wow..loook at gold

[13:05] {Threei} good

[13:05] {Threei} oil too

[13:08] {Threei} ccrrrrrap

[13:08] {Threei} just as I started typing "let's try double top on TM"

[13:13] {Les} ms

[13:16] {Threei} dealership owner asked about impact on their sales answers:

[13:16] {Threei} They'll come back

[13:18] {Threei} NY Fed Pres Dudley: Chance of relapse into another recession is 'low'; concerned about strength of recovery - interview comments

[13:18] {fernp} 15:05 EDT Toyota will start examining SAI Lexus HS250H vehicles, Bloomberg reports citing the Nikkei. :theflyon

[13:19] {fernp} lexus (a toyota filial) also having problems

[13:19] {Threei} oh boy

[13:19] {Threei} it's like a wasp nest

[13:19] {Threei} just touch it

[13:20] {patience} interesting how toyota is becoming catalyst for market vomit reaction

[13:20] {Les} Wouldn't surprise me to see this cost cutting CEO commit suicide before this is over

[13:20] {patience} sadly you are more than likely accurate in your prediction

[13:21] {Les} that's a lot of shame heaping on him

[13:21] {Threei} Reportedly EU document prepared for G7 meeting says EU will urge US and China to lead the rebalancing of the global economy

[13:21] {patience} if i were ceo at another car company, i would be calling all of my subordinate managers saying tell me all the shit i don't know about

[13:21] {Threei} hmmm?

[13:22] {patience} sorry, shouldn't swear

[13:22] {Threei} how do US and China rebalance world economy?

[13:22] {Les} well EU doesn't want to spend on stimulus

[13:22] {Les} so it asks you guys to spend more

[13:22] {Threei} this is what I am thinking now patience

[13:22] {Les} TM b/d

[13:23] {Threei} if so many dark things could hide for so long under the Toyopta bed,

[13:23] {Threei} what do we discover if look closer under the beds next to it?

[13:23] {Threei} Document raises concern that current Chinese currency policy could lead to large renewed global imbalances

[13:25] {Threei} TM}}}

[13:25] {dino} patience, w/respect, tm is not influencing the market imo. only its' own stock

[13:25] {Threei} 72 break is obvious short trigger

[13:25] {Threei} how well obvious can work on it, is whole separate issue

[13:26] {nemo} I agree with Patience...this would actually be seen as good for US auto unions

[13:27] {dino} what does that have to do w/anything else?

[13:27] {Threei} I agree dino, market drops independtly of Toyota

[13:28] {dino} my gut feel is govt debt default worries are scaring people the way leh, bear, banks ect did

[13:28] {dino} eerily similar

[13:29] {dino} i see the harrisburg, pa default issue now, our state capital, idiots

[13:29] {dino} philadelphia next.

[13:30] {dino} then california, etc. the domino effect is the worries right now

[13:34] {ese} damn......i'm suppose to be 1/2 time this year at school yet i'm the phone constantly.....well whats happennin

[13:35] {ese} on the

[13:35] {dino} blood

[13:35] {dino} pot

[13:36] {Les} hmm I'm sure analysts raised prospects for POT recently

[13:36] {Les} MOS .50 b/d?

[13:36] {nemo} low is .45

[13:37] {Les} she'll be right mate

[13:37] {nemo} I've got another concern...market at critical level

[13:37] {nemo} probably going to climb here

[13:37] {nemo} try to regain support

[13:37] {Les} i'll go long if need be

[13:40] {dino} 2:00 ish

[13:40] {strider} I may be gone for a few days......see ya when I see ya.

[13:40] {strider} stuff to do.

[13:40] {dino} take care

[13:40] {Les} ciao strider. don't kill any children with the truck

[13:41] {Threei} take care strider

[13:41] {strider} don't have a truck.

[13:41] {Les} s mos .49

[13:41] {fernp} bye st

[13:41] {Les} and out

[13:41] {strider} thx. Also need to take a break from trading. I'm getting in a bad place...........need to recoup.

[13:41] {Les} ow crap

[13:43] {dino} we all go thru it strider

[13:43] {Les} sure thing

[13:43] {dino} gxdx

[13:44] {nemo} amsc coming to support again

[13:50] {dino} gxdx sm s .74

[13:51] {dino} stopped -.36

[13:51] {nemo} that hurt a little

[13:51] {Les} thanks Nemo. a quick and heavy scalp of amsc bounce

[13:51] {dino} thats a wtf

[13:51] {nemo} yw

[13:52] {nemo} short again now

[13:52] {Les} MOS

[13:56] {Les} stopped out on MOS damn. someone say like pulling teeth?

[13:56] {nemo} yeah

[13:56] {nemo} there you go dino

[13:57] {dino} rinsed gxdx

[13:57] {nemo} stop above .80

[13:59] {Les} tighter bounces on the q's make me wait n see. Might pass as Nemo called it

[13:59] {nemo} pass on what les?

[14:01] {nemo} SOGOTP time for gxdx

[14:03] {nemo} amzn coming into support

[14:03] {Les} trades

[14:03] {ese} i'm outa here....see ya tomorow....my days gone

[14:03] {Les} wait for some clarification. I always lose more trades than gained 2nd half of session

[14:03] {Les} ciao ese

[14:04] {dino} crm sm l .25

[14:04] {dino} cya es

[14:04] {fernp} bye ese

[14:04] {Les} AMSC nice descending triangle. could be a nice trade either way

[14:05] {nemo} that's helpful

[14:05] {Les} :P

[14:05] {nemo} Makes me think of the scarecrow when Dorothy asked which way they went

[14:07] {fernp} maybe QID for a fast scalp if breaks .50

[14:08] {nemo} currently looks weak to me

[14:11] {Threei} TM really p*sses me off

[14:12] {nemo} everything is dribs and drabs right now

[14:12] {Les} gone random?

[14:12] {nemo} mos inverted C&H

[14:14] {Threei} just feel so confient about it being a short and for the world of me can't find entry

[14:15] {nemo} out mos +.10

[14:19] {dino} 2:20 up

[14:20] {Threei} daily does not look good for bulls at all

[14:20] {nemo} no new lows today

[14:20] {dino} 2:20 area has been contra time

[14:21] {Threei} I am talking about market overall

[14:21] {dino} agree overall, contra move for 20-45 min, then down

[14:25] {nemo} Qs an SPY at 200 ma

[14:27] {nemo} triple top rimm?

[14:28] {Threei} SPY on daily: double bottom so far, second bottom is a bit lower, volume on it is a bit higher

[14:28] {Threei} I'd say, we are headed lower

[14:29] {Threei} can't read squat on RIMM

[14:29] {nemo} was a triple top

[14:29] {nemo} fighting horizontal resistance the 200 also

[14:34] {Les} GS rallying hard.

[14:34] {Threei} Short Setup: VXX .50 break if sttays .60

[14:37] {nemo} they're trying to get spy to 107.50

[14:37] {Threei} which should make VXX work

[14:37] {nemo} yes

[14:37] {nemo} I've got to leave at 3:00 gonna be interesting

[14:40] {Threei} Toyota Motor Corp Statement regarding Prius brake issue

[14:40] {Threei} - Toyota is aware that NHTSA has opened a Preliminary Evaluation centered on owner complaints of a braking issue with the 2010 model year Prius. Toyota will cooperate fully with NHTSA's investigation

[14:41] {Threei} does it really have options?

[14:41] {Threei} not to cooperate? as in "we won't show you our Prius"?

[14:43] {Threei} sigh

[14:43] {dino} hmmm 20 min. only

[14:44] {Les} CAT lod

[14:46] {Les} Vad, just bought Koppel's Intuitive trader. Noticed it on your list of things to read

[14:47] {Threei} wy buy everything in sight

[14:47] {nemo} forming inverted C&H pehpas .50 would be trigger, but depends on how it gets there

[14:47] {fernp} great book, Les

[14:47] {Threei} get it in the library, read once, decide if you want it on your shelf

[14:47] {Les} pffffffff

[14:47] {Les} your a foreigner in your country

[14:47] {Les} so am I

[14:47] {nemo} you'd be a foreigner in Oz

[14:48] {Les} :)

[14:48] {Threei} I am foreigner everywhere

[14:48] {Threei} stranger in a strange land

[14:48] {Les} we have small but very competent library in our village

[14:48] {nemo} Les probably a frickin' alien

[14:48] {Les} but not for english speaker

[14:48] {Les} belt up nemo

[14:49] {nemo} always

[14:49] {dino} and i am a legend in my own mind

[14:49] {Threei} libraries here can order anything for you, if they don't have it

[14:49] {Les} you are well endowed with public service

[14:49] {Threei} don't know if thats the case in your neck of the woods

[14:49] {Les} me no

[14:49] {Les} the imbeciles running this village don't put much stock in cultural activities like reading

[14:49] {nemo} 2nd leg up coming

[14:50] {Threei} so, let's reshort VXX if triggers again?

[14:50] {Les} TM 72 break?

[14:50] {nemo} or rimm, fcx long

[14:51] {dino} out crm .70

[14:51] {dino} +.45

[14:52] {Les} Got MPP delivered today as well ty

[14:53] {Threei} that's fast

[14:53] {Threei} I really don't know what to do with TM

[14:53] {Threei} IMO, this is $30 stock

[14:53] {Threei} at best

[14:54] {Les} stop that, you're making me sweat

[14:54] {Threei} but then again, there are brokerages that think AMSC is $50 stock

[14:54] {dino} wow vad. it's just a recall, happens all the time. a beer says it doesn't touch 65

[14:54] {Threei} and look how well it works for them

[14:55] {Threei} I don't see it as just a recall dino...

[14:55] {Threei} in my view it's much more than that

[14:55] {dino} guess not

[14:55] {Threei} it's a perfect storm

[14:55] {Les} I think they've got design and structural issues dino

[14:55] {nemo} out rimm +.10

[14:55] {dino} was 92 when this started

[14:55] {dino} gj nemo

[14:56] {Threei} their cars were never bought because they were cool or sexy,

[14:56] {nemo} gotta' go

[14:56] {Les} well not structural, but design issues

[14:56] {dino} cya nemo

[14:56] {Threei} they were embodiment of rekiability

[14:56] {Les} ciao nemo

[14:56] {Threei} these issues hit them in their very core

[14:56] {nemo} that was a fun day of periodontal work

[14:56] {dino} well, anything can happen, but i think 65 ois floor

[14:56] {nemo} only Bear is happy with me today

[14:57] {Threei} and it happens at the mnoment when their political enemies are mortivated more than ever to do all they can to kill them

[14:57] {Les} and consumer is tapped out as well

[14:57] {Threei} look how these things get blown out of proportion

[14:57] {Threei} by some statments you'd think Toyota cars are death traps

[14:59] {nemo} I gotta go but rimm weak lower high

[14:59] {Threei} oh just go

[15:00] {nemo} I'll be late tomorrow.

[15:00] {Les} so would you risk overnight holds on TM?

[15:00] {Threei} nope

[15:01] {Threei} risk is simply too high

[15:01] {Les} ok, so its going to be on our watch list every day

[15:01] {dino} imo, autos = price issue]

[15:01] {dino} brb

[15:02] {nemo} that was a .15 drop in RIMM...now I'm gone

[15:02] {Les} 200 and 50 ma glued together and spy has fallen below them

[15:03] {Les} s TM .90. stop 72

[15:04] {Threei} wow

[15:04] {Threei} not available for short anymore

[15:04] {Les} out +.10

[15:05] {Les} become trader's preferred toy eh?

[15:05] {Threei} I guess

[15:05] {Threei} they come and go in and out of fashion

[15:05] {Les} funny that Magoo is not here to play

[15:05] {Threei} ugh

[15:08] {Les} s TM .79

[15:09] {Les} out +.15

[15:10] {Les} sigh. back to flat again

[15:10] {Threei} lol

[15:10] {Les} any decent trades while i was out?

[15:10] {Threei} consider it practice day

[15:10] {Les} it is good practice

[15:10] {Threei} I don't remember at what point you went away

[15:11] {Les} and I understand from Larisa now that day's like this the effort is just not to lose money

[15:11] {Threei} we had 4 winning ones in a row which took us to flat for the day, then two small stops

[15:11] {Les} yeh I left when you made it flat

[15:11] {Threei} then you haven't missed anything

[15:11] {Threei} asdide from nemo trying to pick a fight with you

[15:12] {Threei} but you can always take your rebenge tomorrow

[15:12] {Threei} revenge too

[15:16] {Les} yes always another day

[15:17] {Threei} view today this way:

[15:17] {Threei} shaky start,

[15:18] {Threei} often setting traders up for revenge trading which digs deeper and deeper hole,

[15:18] {Threei} instead of falling into that trap, we retreated, re-grouped

[15:18] {fernp} trying 21 break on FAZ

[15:18] {Threei} and fought all the way back in a disciplined calm fashion.

[15:18] {fernp} stop under .90 small shares

[15:19] {Threei} This skill in and of itself costs a lot

[15:19] {Threei} if we practiced in it today and succeeded - fine

[15:19] {fernp} 1:1

[15:19] {Les} sure agreed

[15:19] {Threei} and now fern proceeds to make money, which is totally disgusting

[15:19] {Les} I have an appreciation for potentials of daytrading, if not yet to enjoy lucrative salary entitlements and perks

[15:20] {dino} gj fern

[15:20] {patience} what perks

[15:20] {fernp} ty

[15:20] {dino} ok larisa your break of 10k in swight

[15:20] {dino} sight

[15:20] {Les} why, : working with you patience :)

[15:21] {Les} This self deprecating style of work communication is most enjoyable

[15:22] {larisa} i told you dino 4 days ago we will break it :)

[15:22] {dino} you may be right

[15:22] {larisa} today for sure!! :)

[15:22] {larisa} lol

[15:22] {patience} ok, les, we'll let yo on the island :)

[15:23] {patience} you should have heard vad when he moved here

[15:23] {patience} he didn't want anymore to be allowed to move here

[15:23] {Les} anyone?

[15:23] {Threei} he'd have to go through nemo who doesn't let too many to make the shore

[15:24] {fernp} Good evening everybody. See you all tomorrow

[15:24] {dino} cya fern

[15:24] {Les} ciao fern. c u

[15:24] {Threei} but that's true... I was (and am) like "I am here, drwa the bridge!"

[15:24] {Threei} take care ferrn

[15:24] {Les} what's housing prices on your island?

[15:25] {Threei} second worst in the country

[15:25] {Threei} worst as in unaffordable

[15:25] {larisa} only daytraders can afford it :)

[15:25] {Les} typical or average price you can quote?

[15:25] {patience} prices still keep going up and demand keeps strong

[15:26] {Les} can't be worse than what we are living in now

[15:26] {Les} oh you canadians might have bubble to burst in real estate if I remember correctly

[15:26] {Threei} The average price for single family homes sold in Greater Victoria last month was $644,678 down from $651,316 in December.

[15:27] {Threei} The median price of single family homes sold rose to $595,000. The six-month average was $615,271.

[15:28] {Les} here 100 square metres (300ft) - $650'000+

[15:28] {larisa} wha interest you are paying on your mortgage in Canadaa these days, same as US?

[15:28] {Threei} I don't know US numbers

[15:28] {larisa} atound 5-6%

[15:28] {Threei} 5 years fixed is around 5.5% I think

[15:28] {patience} i just got 4.05 for 5 years

[15:29] {dino} les, 300 sq ft? you mean thousand right?

[15:29] {larisa} 300 sq meters

[15:29] {Les} we're talking about Europe man. 100 square metres

[15:30] {dino} 900 sq ft?

[15:30] {larisa} oh I see

[15:30] {Les} 300 square feet

[15:30] {Les} apartment

[15:30] {dino} thats smaller than my bedroom

[15:30] {Les} 200 square metre houses - 1 million +

[15:31] {Les} welcome to switzerland

[15:31] {dino} i'm in 2500sq ft house, about $350k

[15:31] {larisa} 100 sq meters = 1076 sq feet dino

[15:31] {Les} 800 sq. metres. wow

[15:31] {Les} does it?

[15:32] {Les} crap I can never remember conversion

[15:32] {Threei} lol

[15:32] {larisa} dino's house is 232 sq meters

[15:32] {dino} w/7 acres

[15:33] {larisa} nice :)

[15:33] {Les} larisa is right

[15:33] {dino} lucky

[15:34] {larisa} i had 3 acres, overlandscaped :) moved to half an acre and very happy :)

[15:34] {dino} understand i only mow 2 acres

[15:35] {Les} of course. 1 metre is 3.28. so 3.28 x 3.28 x 100

[15:35] {Threei} USGS reports earthquake offshore of Northern California; initial report is 6.0 magnitude

[15:35] {Threei} - USGS says no tsunami warning to be issued.

[15:35] {Threei} - Occurred 50 miles/80 Km southwest of Eureka,

[15:39] {Threei} 83% Blame Deficit on Politicians Unwillingness To Cut Spending

[15:44] {Les} CAT b/d?

[15:45] {Threei} can't tell

[15:45] {Threei} late bounce is just as possible

[15:45] {Threei} nothing rally-like, but vould be just enough to ruin short

[15:46] {Les} y

[15:46] {Threei} although my heart is still on downside

[15:46] {Threei} and bad job numbers tomorrow

[15:47] {Threei} which is likelt to send market down screaming, with strong bounce later in the day

[15:48] {dino} fsys gap- fill from nov.

[15:51] {dino} going to be one heck of a bad annual revision, expecting additional 800,000 to 1,000,000

[15:51] {Threei} no kidding

[15:51] {Threei} they dumpened effect though by pre-announcing it in a way

[15:52] {dino} and yet they still push heathcare, when nobody will have job to buy it

[15:52] {Threei} insignificsnt details

[15:52] {Les} what they give revised figures for last year tomorrow?

[15:53] {Threei} sounds like that Les

[15:53] {Threei} and forrecast looks far from rosey

[15:53] {dino} yes

[15:53] {Les} its disgusting to say

[15:53] {Les} but as trader I'm interested to see what happens

[15:53] {Threei} why disgusting

[15:54] {Threei} as fact of life it already happened

[15:54] {Les} well I didn't want to say that I am actually looking forward to market dropping like a bomb

[15:54] {Les} sounds inhumane

[15:54] {Threei} how you as a trader react is no different from how anyone in an y profession reacts - trying to adjust and find their place in it

[15:55] {larisa} they will surprise and say no unemployed :) DOW will open at 11K ..

[15:55] {Threei} haha

[15:55] {Les} lol why not?

[15:55] {Threei} also, there is no negative or positive connotation to market direction... it's misguided mindset

[15:55] {dino} get out your 9k hats

[15:55] {Threei} both are necessary

[15:55] {Les} true

[15:57] {Threei} as already quoted by me Master and Margarita says "yuo would rip out all the trees on Earth in your idiotic strive to eliminate shadows"

[15:57] {Les} wfc might bounce here

[15:57] {Les} don't know this quote

[15:58] {Threei} was a retort to someone who expressed his hatred to evil

[15:59] {billyc} gn all thank you

[15:59] {Threei} take care billy

[15:59] {Les} ciao billy

[15:59] {Threei} 6 [oints left

[15:59] {Threei} 4

[15:59] {Threei} 10K

[15:59] {Threei} broken

[15:59] {Threei} wtg Larisa

[16:00] {larisa} lol

[16:00] {Les} nice round number 9'999. night all

[16:00] {Threei} thank you all

[16:00] {larisa} bye

[16:00] {Threei} have a good evening, see you tomorrow

[16:01] {dino} dji -7.8%; ndx -8%; s/p -7.8% since highs 1/19/10