Aug 01 2008
Session Time: Fri Aug 01 00:00:01 2008
[08:07] {Threei} 07/31/08 05:18pm [ELN] Notifies regulatory agencies of two confirmed cases of progressive multifocal leukoencephalopathy (PML) in multiple sclerosis (MS) patients treated with TYSABRI in a commercial setting
[08:17] {Threei} PREVIEW: JULY UNEMPLOYMENT RATE DATA DUE OUT AT 8:30AM
[08:17] {Threei} - Consensus expectations at 5.6% vs 5.5% prior
[08:17] {Threei} - Reminder- Apr& May 5.5% readings were the highest since Oct 2004
[08:18] {Threei} PREVIEW: JULY CHANGE IN NONFARM PAYROLLS AND CHANGE IN MANUFACTURING PAYROLLS DUE AT 8:30 AM
[08:18] {Threei} - Change in Nonfarm Payrolls: -75K v -62K prior (Note the range of estimate are from -150K to 0K)
[08:18] {Threei} - Change in Manufacturing Payrolls: -40K v -33K prior
[08:18] {Threei} **Note: ADP Employment Change came in at +9K v -20Ke
[08:18] {Threei} ** Nov Fed Fund Future sees 60% chance of 25bps hike by the middle of the fall
[08:18] {Threei} - Reminder: Back month nonfarm payrolls have encountered 5 consecutive month of downward revisions
[08:30] {Threei} JUL UNEMPLOYMENT RATE: 5.7% V 5.6%E
[08:30] {Threei} JUL CHANGE IN NONFARM PAYROLLS: -51K V -75KE; CHANGE IN MANUFACTURING PAYROLLS: -35K V -40KE
[08:30] {Threei} - Prior Jun Nonfarm Payrolls revised Lower from - 62K to -51K Note: (sixth straight month of lower revisions in back months)
[08:31] {Threei} JULY AVERAGE HOURLY EARNINGS M/M: 0.3% V 0.3%E; AVERAGE WEEKLY AVERAGE: 336. V 33.7E
[08:35] {Threei} .v raven
[08:37] {Raven} 3 .v Threei
[08:37] {Threei} sigh
[08:37] {Raven} 3 rofl
[08:37] {Threei} frikin script just won't work as it should :)
[08:37] {Raven} 3 you trying to vaporize me?
[08:38] {Threei} it's not personal
[08:38] {Raven} 3 OK
[08:38] {Threei} just a ingrained reaction... I try to vaporize anyone in sight
[08:38] {Raven} 3 be careful
[08:39] {Threei} you know... "vaporize or be vaporized"...
[08:39] {Raven} 3 sigh
[08:44] {Threei} FORMER FED MEMBER POOLE SAYS INFLATION PROBLEM DEVELOPING OVER LONGER TERM
[08:44] {Threei} seriously?
[08:45] {Threei} I'll say... considering that today's dollar costs what, 6% of dollar before Fed creation?
[08:46] {Raven} 3 long term we're all dead
[08:49] {Threei} ABK
[08:49] {Threei} SETTLES $1.4B CDO SQUARED TRANSACTION, MAKING PAYMENT OF $850M
[08:49] {Threei} - Company has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction
[08:50] {Raven} 3 don't fall into the tranches
[08:51] {Threei} ELN back into support
[08:59] {magoo} morn
[08:59] {Threei} magoo :)
[09:03] {magoo} vad, yesterday u were saying u like to hang around all day on slow days because u never know if IF something developes
[09:03] {magoo} well, i almost always like to do same for after hours
[09:04] {Threei} during earnings season, sure
[09:04] {magoo} point being..last night at 5 pm ELN starts rolling over on scanner from 22 all way to 10..i shorted it several
[09:04] {magoo} points
[09:04] {magoo} made like 1400
[09:05] {magoo} just saying
[09:05] {magoo} , it hit under 10
[09:05] {magoo} ffrom 22 area, plus biib went down with it,
[09:06] {Threei} nice, congratulations
[09:06] {magoo} but u gotta sit till 6 pm cause nev er know, movwes come after conference calls at 5 lots of times
[09:06] {Threei} yeah
[09:06] {Threei} well, one needs to draw a line somewhere
[09:06] {magoo} prob is i never get home till 7 pm {wife no like that}
[09:06] {Threei} otherwise it never ends... one market closes, another opens
[09:07] {Threei} pretty soon you are trading 24/7
[09:07] {magoo} friday afterhours worthless though, no action
[09:08] {magoo} i was only doing 100 shares..thats why didnt do better
[09:09] {magoo} but it was risky of course
[09:10] {peterg} morning
[09:10] {peterg} gj magoo
[09:10] {magoo} i just trade until i make what i think raven makes for day he he
[09:11] {magoo} BIIB
[09:11] {magoo} news vad?
[09:11] {Threei} peter :)
[09:12] {Threei} same as ELN
[09:12] {magoo} it hit 52 last night..back there now
[09:12] {Threei} they are in that drug together
[09:12] {magoo} i thought wye was with eln
[09:12] {lars} morning all
[09:12] {Threei} lars :)
[09:13] {Threei} abk
[09:13] {Threei} possible player today
[09:13] {magoo} lars:)
[09:14] {cosmo} PWAV should hold 4.25 imo
[09:15] {cosmo} ... for a 4.35 break...
[09:17] {fernp} Good morning
[09:17] {Threei} fern :)
[09:22] {lars} nice job last night magoo :)
[09:23] {lars} better take wife to nice dinner though :)
[09:24] {Raven} 3 {---------- checking for a magoo spy camera
[09:26] {magoo} you're getting warmer, there, there, oops..wrong turn
[09:26] {Raven} 3 lol
[09:26] {Threei} C
[09:26] {Threei} DISCLOSES STATUS AS COUNTERPARTY IN ABK TRANSACTION ANNOUNCED EARLIER TODAY
[09:26] {Threei} {ABK}
[09:27] {dptl} good morning all
[09:27] {Threei} ELN is scalpable on bounce but right now it's in uncharted territory, can't tell where the entry is
[09:27] {Threei} dp :)
[09:28] {Threei} 07:17am [GM] CEO: Production fell by about 27% in Q2, overseas operations are performing well, liquidity plan is on track, have cash to cover needs through 2009
[09:29] {Threei} 06:59am [GM] Reports Q2 -$11.21 v -$2.62e (Ex items) , R $38.15B v $44.57Be, To draw $1.0B from credit lines, Records $9.1B charge
[09:29] {Threei} DEMOCRATIC PRESIDENTIAL CANDIDATE OBAMA SAYS HE WOULD BACK A WINDFALL TAX ON OIL COMPANIES
[09:29] {Threei} {XOM CVX USO}
[09:30] {cosmo} that's better than nationalizing them i guess...
[09:31] {Threei} half lot long ELN
[09:31] {Threei} stop under .60
[09:31] {Threei} can take several attempts
[09:32] {esemde} morning......
[09:32] {Threei} ese :)
[09:33] {Threei} feel fre to take profit ELN
[09:33] {esemde} hey
[09:33] {Threei} out 11.05, +.35
[09:33] {esemde} Irish Whisky.............thats all i'm going to say!
[09:34] {Threei} anyone got ELN?
[09:34] {Threei} that panic dive to .70 was a godsend
[09:34] {lars} out at 11.08 +.31
[09:34] {Threei} wtg
[09:34] {peterg} out with a small .12
[09:35] {lars} thx... to you :)
[09:35] {Threei} VVUS
[09:35] {Threei} .75 break long, stop under .55, possible swing trade
[09:35] {Threei} generally slow one
[09:36] {Threei} don't touch it if not willing to sit on it for a while
[09:36] {magoo} hence magoo back off
[09:36] {Threei} ABK
[09:36] {Threei} .21 long, stop under 3
[09:37] {magoo} 100 sh l CME
[09:38] {magoo} 351
[09:39] {magoo} too soon
[09:39] {esemde} long VPRT 29.61
[09:40] {magoo} that sucked out minus 500
[09:40] {esemde} out Vprt .95 3/4 lot
[09:40] {esemde} holly!!!!
[09:40] {esemde} in out bang bang
[09:40] {esemde} barely time to typole this
[09:41] {Threei} nice scalping footwork
[09:41] {esemde} that was really fast Vad
[09:41] {Threei} VVUS chews resistance
[09:41] {Threei} the best kind ese...
[09:42] {Threei} leave it to analyst to discuss for days why it went up
[09:43] {Threei} what just happened?
[09:46] {Roman} 21 long GLD
[09:46] {esemde} happened to what Vad?
[09:46] {Roman} 21 small
[09:46] {Threei} market
[09:46] {Threei} sudden drop
[09:46] {esemde} NDX is tanking on my monitor
[09:47] {esemde} news?
[09:47] {Threei} that was what I asked :)
[09:47] {Threei} I s\ee none
[09:47] {hawkfan4} none here
[09:47] {esemde} me either
[09:47] {Threei} PREVIEW: JULY ISM MANUFACTURING COMPOSITE DUE OUT AT 10AMET
[09:47] {Threei} **consensus expectation: 49.0e v prior 50.2
[09:47] {Threei} - Prices paid expected at 88.0 v 91.5 prior (which was highest prices paid since July 1979)
[09:48] {esemde} Sunh bstop 15.61 1/2 lot
[09:49] {judijim} gm all
[09:49] {Threei} jj :)
[09:49] {esemde} jj
[09:49] {Threei} wanted to short NSANY, then remembered I have two of their cars
[09:49] {Threei} and happy with both
[09:49] {Threei} GM not in a short list
[09:50] {esemde} long SUNH
[09:50] {Roman} 21 long GOLD small
[09:50] {esemde} out SUNH
[09:50] {Roman} 21 49.41
[09:51] {esemde} .89
[09:51] {Threei} lol ese
[09:51] {Threei} you arwe making money today faster than you can report
[09:51] {esemde} man oh man...
[09:51] {Threei} all while market dropping like there is no tomorrow
[09:51] {esemde} shooting up like rockets.....
[09:52] {Roman} 21 watching HK setup
[09:52] {Threei} nice feeling of mastering this thing eh?
[09:52] {Roman} 21 long
[09:52] {esemde} going up so fast can barely type to keep up...
[09:52] {Threei} no thinking involved... eye to finger reaction
[09:52] {esemde} exactly
[09:52] {Threei} brain inbetween is canceled
[09:52] {hawkfan4} geesh, no news
[09:52] {Roman} 21 long HK small
[09:52] {esemde} indeed!
[09:53] {Threei} ok, what the heck is going on?
[09:53] {Roman} 21 33.75
[09:53] {Roman} 21 unemployment numbers this morning
[09:53] {Roman} 21 taking toll
[09:53] {Roman} 21 imo
[09:53] {Roman} 21 commodities stroong sofar
[09:53] {Threei} they are over an hour old
[09:54] {Threei} and they weren't too bad
[09:54] {magoo} how bad we close yesterday?
[09:54] {Threei} in green
[09:55] {Threei} 20 points NQ off the high though
[09:55] {magoo} dow?
[09:56] {Threei} 8.02 long UAUA
[09:56] {Threei} 7.94 stop
[09:59] {Threei} invalidated
[09:59] {Threei} numbers in a min
[09:59] {Threei} VVUS is nicely oblivious to the market
[09:59] {magoo} l rimm 120
[09:59] {magoo} small
[10:00] {Threei} *JUNE CONSTRUCTION SPENDING (M/M): -0.4% V -0.3%E
[10:00] {Threei} prior revised to 0.0% from -0.4%
[10:00] {magoo} out .60
[10:00] {magoo} +.60
[10:01] {Roman} 21 magoo is back
[10:01] {Roman} 21 out HK
[10:01] {magoo} cme cracked me
[10:01] {magoo} nasty
[10:01] {magoo} its a dino play
[10:01] {magoo} need the dino i gues
[10:02] {Roman} 21 that guy is still on vacation?
[10:02] {magoo} yeah
[10:02] {Roman} 21 nice
[10:02] {magoo} only his 3rd with 2 more coming for yr
[10:03] {Roman} 21 his 3rd vacation this year?
[10:03] {Threei} *JULY ISM MANUFACTURING: 50 V 49E; PRICE PAID: 88.5 V 88E
[10:03] {Threei} - Employment Index 51.9 v 43.7 prior{SPY EUR/USD}
[10:03] {magoo} yeah, mexico, 2 north caro..plus jamaca coming and 1 more caro
[10:03] {magoo} bastard lol
[10:03] {Roman} 21 damn, you guys making serious $$$
[10:04] {magoo} HEY..i took nopne
[10:04] {magoo} mnone
[10:04] {magoo} none
[10:04] {Roman} 21 i wish some day i can be like you
[10:04] {magoo} i haven't been on family vaca in years
[10:04] {Roman} 21 out GLD +.40
[10:05] {Roman} 21 out GOLD +.76
[10:05] {Roman} 21 all small
[10:06] {Roman} 21 watching RGLD for long
[10:06] {Roman} 21 small
[10:06] {Threei} wtg
[10:07] {Roman} 21 i think GOLD got more
[10:07] {Roman} 21 look at commodities
[10:07] {Roman} 21 damn
[10:07] {Roman} 21 ROYL
[10:07] {Roman} 21 in
[10:08] {Roman} 21 .95
[10:10] {laserdave1} hawkfan dcc when u get a sec
[10:10] {magoo} what would be very unexpected is if IF this mkt could turn around here and go green big
[10:10] {Roman} 21 NCOC
[10:13] {magoo} l aapl .55
[10:14] {magoo} small 300
[10:14] {magoo} wait 157.17
[10:14] {Roman} 21 in with u
[10:15] {magoo} .95 prints
[10:17] {magoo} out .14 THERE
[10:17] {magoo} .17 THERE
[10:18] {magoo} easy too
[10:18] {magoo} never neg
[10:18] {lars} +.41 aapl u da man magoo :)
[10:19] {Threei} I don't worry about you guys at all for the time of my Alaska cruise
[10:20] {magoo} u should check in once in awhiole if access boss
[10:20] {Threei} nope
[10:20] {magoo} when u leaving?
[10:20] {Threei} next Sat
[10:21] {magoo} dates?
[10:21] {Threei} Aug 9 - 16
[10:23] {Roman} 21 all these people are just on vacation
[10:23] {Roman} 21 i have not had one in ages
[10:23] {Roman} 21 amazing
[10:23] {Threei} you live in Florida, you whole life is vacation
[10:23] {Roman} 21 something must be wrong with me
[10:23] {GeoArb} i have been on vacation a day here and there
[10:23] {magoo} roflol
[10:30] {Threei} US STATE DEPT NOTES EXPECTING A RESPONSE FROM IRAN ON ITS LATEST NUCLEAR INCENTIVES OFFER OVER THE WEEKEND (THE EXISTING DEADLINE FOR A RESPONSE IS THIS WEEKEND)
[10:30] {Threei} {USO}
[10:31] {Threei} OPEC MIN: OPEC WILL INTERVENE IN OIL MARKET IF SUPPLY SURPASSES DEMAND TO CREATE BALANCE
[10:31] {Threei} {USO OIH}
[10:38] {magoo} l rimm 120
[10:38] {magoo} sm
[10:39] {magoo} 200 bux stop whatever size
[10:39] {magoo} lay out .61
[10:40] {lars} iwas just gonna ask target... i need to type faster
[10:41] {Roman} 21 WM
[10:44] {Roman} 21 .
[10:46] {magoo} i have 300 sh so my stiop is .39
[10:46] {magoo} trade needs mkt power
[10:46] {Roman} 21 99% chance u will make money
[10:46] {Roman} 21 on this trade
[10:46] {kazaam} what do you thik about NYX double bottom
[10:46] {magoo} safer exit .33
[10:46] {kazaam} oh damn, just moved
[10:46] {lars} abk moving
[10:46] {kazaam} nevermind vad
[10:47] {magoo} on WM rfr?
[10:47] {Roman} 21 RIMM
[10:47] {magoo} oh
[10:47] {Roman} 21 u on RIMM
[10:48] {Roman} 21 u got the power
[10:48] {magoo} i leave exit at .61
[10:48] {Roman} 21 why not $125
[10:49] {magoo} well...if IF mkt goes green yeah
[10:49] {Roman} 21 WM sqeezing short a bit
[10:55] {Threei} ABK is serious aabout squeezing today
[11:00] {Threei} MER .61 long if stays above .50
[11:01] {Threei} invalidated
[11:01] {Threei} PREVIEW: JULY US VEHICLE SALES NUMBERS EXPECTED THROUGHOUT THE DAY FROM MAJOR AUTO MAKERS
[11:01] {Threei} **consensus estimates:
[11:01] {Threei} - Ford: -20%e adjusted basis (usually released at Noon ET).
[11:01] {Threei} - GM: -25%e adjusted basis (usually released around 1:45pmET).
[11:01] {Threei} - July 2008 had 26 selling days, two more than July 2007. On an unadjusted basis, the estimates above would be higher by about 8% (i.e F -12%e, and GM -17%e).
[11:04] {magoo} out rimm
[11:04] {magoo} dont lose here
[11:04] {magoo} had .51
[11:12] {Roman} 21 CHK
[11:12] {Roman} 21 long small 50.32 stop under 50
[11:18] {Threei} WHITE HOUSE: PREMATURE TO DISCUSS A 2ND ECONOMIC STIMULUS
[11:23] {Threei} ABK is aiming for 4 and above
[11:24] {Threei} CHRYSLER IS REPORTEDLY INCREASING INCENTIVES FOR PURCHASES AFTER END TO LEASING PROGRAM, PROVIDING $2K CASH BACK IN ADDITION TO 6 YR, INTEREST FREE LOANS
[11:24] {Threei} {F GM}
[11:25] {esemde} 6 year interest free loans??? there nuts
[11:25] {Threei} they need to get rid of lease at this point
[11:26] {GeoArb} they are all loosing money hand over fist on leases
[11:26] {Threei} IMO, in preparation for total fleet revamping which is going to make gasoline-based cars impossible to sell
[11:26] {Threei} not really Geo
[11:26] {Threei} lease is more pfoitable for them
[11:26] {GeoArb} in fact one of them stopped leasing
[11:26] {GeoArb} right now
[11:27] {GeoArb} lemme find the article
[11:27] {Threei} all 3 actually are backing away of it
[11:27] {GeoArb} yeah
[11:27] {Threei} don't bother, I read it
[11:27] {GeoArb} heheh
[11:27] {Threei} but their abandoning lease is not based on losing money on it
[11:27] {GeoArb} credit crunch
[11:27] {GeoArb} and resale lower than projection
[11:27] {Threei} they lease you a car,
[11:28] {Threei} you come back in 3-4 years,
[11:28] {Threei} dump a car in their lap,
[11:28] {Threei} and get another one.
[11:28] {Threei} ABK 4
[11:28] {Threei} Everything worked fine while business was as usual
[11:28] {Threei} However when they are in the middle of turning their fleet into different technology
[11:29] {Threei} old cars will be unsellable
[11:29] {Threei} aand they prefer to sell it to you today and have you stuck with it
[11:29] {Threei} instead of you dumping it on them, get your new shining super-duper-nuclear-hydrogen-electric
[11:29] {Threei} and them stuck with obsolete gasolin dybosaur they can't sell
[11:30] {GeoArb} also IMO they are having difficulty in credit to pass along
[11:30] {Threei} everyone does...
[11:30] {GeoArb} i like amtrack
[11:30] {Threei} that's of less concern to them though
[11:31] {Threei} they still give you financing, right?
[11:31] {GeoArb} i am a socialist rubbing sholders with other commoners
[11:31] {Threei} need credit for that even more than for lease
[11:32] {Threei} anyone found entry on ABK?
[11:32] {GeoArb} what no socialist comment sneers?
[11:32] {GeoArb} man.....
[11:32] {lars} +.17 on ABK
[11:33] {lars} thx Vad
[11:33] {Threei} :)
[11:34] {kazaam} vad, which scanner first popped up ABK?
[11:35] {Threei} news bfore open
[11:35] {kazaam} trade the news?
[11:36] {Threei} [08:49] {Threei} ABK
[11:36] {Threei} [08:49] {Threei} SETTLES $1.4B CDO SQUARED TRANSACTION, MAKING PAYMENT OF $850M
[11:36] {Threei} [08:49] {Threei} - Company has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction
[11:36] {kazaam} ty
[11:37] {Threei} [09:13] {Threei} abk
[11:37] {Threei} [09:13] {Threei} possible player today
[11:40] {esemde} The other thing about those interest free loans is that Gm gets there money right away anyway. Principal and interest. All they do is sell the loan to a cllection agency whom are just brutal when it comes to collecting from you.
[11:52] {Threei} trying to get a feel if ABK done or worth a bounce
[11:52] {Threei} not sure
[12:02] {kazaam} when does regular trading "summer" start and end?
[12:05] {Threei} mid-June - Labor day
[14:05] {Threei} US STATE DEPT NOTES EXPECTING A RESPONSE FROM IRAN ON ITS LATEST NUCLEAR INCENTIVES OFFER OVER THE WEEKEND (THE EXISTING DEADLINE FOR A RESPONSE IS THIS WEEKEND)
[14:05] {Threei} {USO}
[14:05] {Threei} OPEC MIN: OPEC WILL INTERVENE IN OIL MARKET IF SUPPLY SURPASSES DEMAND TO CREATE BALANCE
[14:05] {Threei} {USO OIH}
[14:05] {magoo} l rimm 120
[14:05] {magoo} sm
[14:05] {magoo} 200 bux stop whatever size
[14:05] {magoo} lay out .61
[14:05] {lars} iwas just gonna ask target... i need to type faster
[14:05] {Roman} 21 WM
[14:05] {Roman} 21 .
[14:05] {magoo} i have 300 sh so my stiop is .39
[14:05] {magoo} trade needs mkt power
[14:05] {Roman} 21 99% chance u will make money
[14:05] {Roman} 21 on this trade
[14:05] {kazaam} what do you thik about NYX double bottom
[14:05] {magoo} safer exit .33
[14:05] {kazaam} oh damn, just moved
[14:05] {lars} abk moving
[14:05] {kazaam} nevermind vad
[14:05] {magoo} on WM rfr?
[14:05] {Roman} 21 RIMM
[14:05] {magoo} oh
[14:05] {Roman} 21 u on RIMM
[14:05] {Roman} 21 u got the power
[14:05] {magoo} i leave exit at .61
[14:05] {Roman} 21 why not $125
[14:05] {magoo} well...if IF mkt goes green yeah
[14:05] {Roman} 21 WM sqeezing short a bit
[14:05] {Threei} ABK is serious aabout squeezing today
[14:05] {Threei} MER .61 long if stays above .50
[14:05] {Threei} invalidated
[14:05] {Threei} PREVIEW: JULY US VEHICLE SALES NUMBERS EXPECTED THROUGHOUT THE DAY FROM MAJOR AUTO MAKERS
[14:05] {Threei} **consensus estimates:
[14:05] {Threei} - Ford: -20%e adjusted basis (usually released at Noon ET).
[14:05] {Threei} - GM: -25%e adjusted basis (usually released around 1:45pmET).
[14:05] {Threei} - July 2008 had 26 selling days, two more than July 2007. On an unadjusted basis, the estimates above would be higher by about 8% (i.e F -12%e, and GM -17%e).
[14:05] {magoo} out rimm
[14:05] {magoo} dont lose here
[14:05] {magoo} had .51
[14:05] {Roman} 21 CHK
[14:05] {Roman} 21 long small 50.32 stop under 50
[14:05] {Threei} WHITE HOUSE: PREMATURE TO DISCUSS A 2ND ECONOMIC STIMULUS
[14:05] {Threei} ABK is aiming for 4 and above
[14:05] {Threei} CHRYSLER IS REPORTEDLY INCREASING INCENTIVES FOR PURCHASES AFTER END TO LEASING PROGRAM, PROVIDING $2K CASH BACK IN ADDITION TO 6 YR, INTEREST FREE LOANS
[14:05] {Threei} {F GM}
[14:05] {esemde} 6 year interest free loans??? there nuts
[14:05] {Threei} they need to get rid of lease at this point
[14:05] {GeoArb} they are all loosing money hand over fist on leases
[14:05] {Threei} IMO, in preparation for total fleet revamping which is going to make gasoline-based cars impossible to sell
[14:05] {Threei} not really Geo
[14:05] {Threei} lease is more pfoitable for them
[14:05] {GeoArb} in fact one of them stopped leasing
[14:05] {GeoArb} right now
[14:05] {GeoArb} lemme find the article
[14:05] {Threei} all 3 actually are backing away of it
[14:05] {GeoArb} yeah
[14:05] {Threei} don't bother, I read it
[14:05] {GeoArb} heheh
[14:05] {Threei} but their abandoning lease is not based on losing money on it
[14:05] {GeoArb} credit crunch
[14:05] {GeoArb} and resale lower than projection
[14:05] {Threei} they lease you a car,
[14:05] {Threei} you come back in 3-4 years,
[14:05] {Threei} dump a car in their lap,
[14:05] {Threei} and get another one.
[14:05] {Threei} ABK 4
[14:05] {Threei} Everything worked fine while business was as usual
[14:05] {Threei} However when they are in the middle of turning their fleet into different technology
[14:05] {Threei} old cars will be unsellable
[14:05] {Threei} aand they prefer to sell it to you today and have you stuck with it
[14:05] {Threei} instead of you dumping it on them, get your new shining super-duper-nuclear-hydrogen-electric
[14:05] {Threei} and them stuck with obsolete gasolin dybosaur they can't sell
[14:05] {GeoArb} also IMO they are having difficulty in credit to pass along
[14:05] {Threei} everyone does...
[14:05] {GeoArb} i like amtrack
[14:05] {Threei} that's of less concern to them though
[14:05] {Threei} they still give you financing, right?
[14:05] {GeoArb} i am a socialist rubbing sholders with other commoners
[14:05] {Threei} need credit for that even more than for lease
[14:05] {Threei} anyone found entry on ABK?
[14:05] {GeoArb} what no socialist comment sneers?
[14:05] {GeoArb} man.....
[14:05] {lars} +.17 on ABK
[14:05] {lars} thx Vad
[14:05] {Threei} :)
[14:05] {kazaam} vad, which scanner first popped up ABK?
[14:05] {Threei} news bfore open
[14:05] {kazaam} trade the news?
[14:05] {Threei} [08:49] {Threei} ABK
[14:05] {Threei} [08:49] {Threei} SETTLES $1.4B CDO SQUARED TRANSACTION, MAKING PAYMENT OF $850M
[14:05] {Threei} [08:49] {Threei} - Company has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction
[14:05] {kazaam} ty
[14:05] {Threei} [09:13] {Threei} abk
[14:05] {Threei} [09:13] {Threei} possible player today
[14:05] {esemde} The other thing about those interest free loans is that Gm gets there money right away anyway. Principal and interest. All they do is sell the loan to a cllection agency whom are just brutal when it comes to collecting from you.
[14:05] {Threei} trying to get a feel if ABK done or worth a bounce
[14:05] {Threei} not sure
[14:05] {kazaam} when does regular trading ""summer"" start and end?
[14:18] {peterg} hello?
[14:19] {Threei} hi
[14:19] {Threei} one made it
[14:19] {peterg} just got email with right entry
[14:19] {Threei} we sent e-mail to all members
[14:19] {peterg} good to be back.
[14:20] {peterg} what was that all about?
[14:20] {Threei} server problem at ChatSpace
[14:20] {peterg} server crash
[14:20] {peterg} ok, onwards; whats up?
[14:20] {Threei} no idea... looking around
[14:24] {peterg} server refused me entry for until it decided it liked me
[14:24] {Threei} ELN is a disaster... short on bonuses
[14:26] {Threei} no one reads e-mails I take it
[14:27] {peterg} i was corresponding with RT svs
[14:27] {Threei} yes
[14:27] {Threei} we sent mass e-maiol with new IP
[14:27] {peterg} so primed
[14:27] {peterg} i dont think i got that
[14:28] {peterg} no; didntget
[14:28] {patience} didn't get an email vad
[14:28] {Threei} sigh
[14:28] {patience} remembered to go to the RT site for the ip string
[14:28] {peterg} thats why its just you me, now patience
[14:28] {patience} sounds good, let's make all the money today :)
[14:28] {Threei} yes... it has changed, site just got updated
[14:29] {Threei} short the hell out of ELN, this thing is not done dropping... IMO
[14:30] {Threei} if we get lucky to have it bounced to 10.5 would be great
[14:31] {peterg} short at .91
[14:31] {Threei} stop over 10
[14:34] {Threei} needs better bounce
[14:35] {kazaam} thought my time ran out
[14:35] {Threei} lol
[14:35] {Threei} you got e-mail?
[14:35] {kazaam} yeah
[14:35] {kazaam} how many days do i have?
[14:36] {kazaam} once i get the email?
[14:36] {Threei} I mean e-mail with new server IP to login the room
[14:37] {kazaam} oh, yeah i got new server IP email
[14:37] {kazaam} how would i get here if i didnt get it?
[14:37] {Threei} well, there is a reserve server on our website
[14:37] {kazaam} Ohhhh
[14:37] {Threei} on trasding room page
[14:38] {Threei} you can pull it from there
[14:38] {kazaam} gotcha, spicing up summer trading i see
[14:38] {Threei} hehe
[14:41] {peterg} still likee short ELN?
[14:41] {Threei} yes... just hard to time it here, too nervous trader
[14:41] {peterg} i am a nervous trader
[14:41] {peterg} too
[14:42] {peterg} wkg on it
[14:42] {Threei} leave it alone then, it's not an easy stock
[14:45] {kazaam} when does "summer" trading end and begin?
[14:46] {Threei} mid-June - Labor day
[14:46] {Threei} usually
[14:56] {kazaam} ty
[15:04] {peterg} dcc laserdave1
[15:09] {Threei} C
[15:09] {Threei} NY ATTY GENERAL CUOMO MAY CHARGE CITIGROUP WITH FRAUD OVER AUCTION RATE SECURITIES MARKETING - CNBC
[15:09] {Threei} - Cuomo notes that the charges may ask that Citigroup buy ARS back from customer at PAR
[15:09] {Threei} - Reminder earlier this morning Citigroup disclosed the SEC had issued a formal order of investigation related to ARS
[15:10] {peterg} Memo to self: when short, do not sell to end transaction.
[15:10] {peterg} You only sell more......
[15:10] {kazaam} lol peter, i have 10 of those memos posted around my desk
[15:10] {kazaam} i guess they havent been working for me
[15:10] {peterg} u 2?
[15:12] {kazaam} i started to use only hotkeys because my memos were piling up
[15:14] {peterg} ok all calling it a day--bye kaz, laz, vad, pat
[15:14] {Threei} take care peter
[15:26] {magoo} HEY
[15:26] {patience} oh magoo!!! i missed you.
[15:26] {magoo} was here..knocked out
[15:28] {magoo} ty vad
[15:29] {laserdave1} hey mags
[15:29] {magoo} hi dave
[15:29] {Threei} what a pain
[15:29] {laserdave1} magoo
[15:29] {laserdave1} ya i know
[15:29] {Threei} chatspace had to physically relocate server
[15:29] {laserdave1} he can drive ya cooky
[15:29] {laserdave1} :)
[15:29] {magoo} i was out like hour
[15:36] {Threei} ABK looks to go over 4 once more
[15:40] {magoo} any reports after bell?
[15:40] {Threei} nothing of significance
[15:41] {Threei} ARBA is dfoing it again or what
[15:41] {Threei} runup with no news
[15:56] {Threei} OK guys, have a great weekend
[15:56] {Threei} see you on Monday
[15:56] {magoo} ok ty vad
[15:57] {Threei} dns propagation should occur till then
[15:57] {Threei} so no need in reserve server
[15:57] {Threei} but if not, use this new one
[15:58] {Threei} it posted at http://www.realitytrader.com/tradingroom/ in red letters closer to the bottom of the page
[16:01] {laserdave1} later everyone
[08:07] {Threei} 07/31/08 05:18pm [ELN] Notifies regulatory agencies of two confirmed cases of progressive multifocal leukoencephalopathy (PML) in multiple sclerosis (MS) patients treated with TYSABRI in a commercial setting
[08:17] {Threei} PREVIEW: JULY UNEMPLOYMENT RATE DATA DUE OUT AT 8:30AM
[08:17] {Threei} - Consensus expectations at 5.6% vs 5.5% prior
[08:17] {Threei} - Reminder- Apr& May 5.5% readings were the highest since Oct 2004
[08:18] {Threei} PREVIEW: JULY CHANGE IN NONFARM PAYROLLS AND CHANGE IN MANUFACTURING PAYROLLS DUE AT 8:30 AM
[08:18] {Threei} - Change in Nonfarm Payrolls: -75K v -62K prior (Note the range of estimate are from -150K to 0K)
[08:18] {Threei} - Change in Manufacturing Payrolls: -40K v -33K prior
[08:18] {Threei} **Note: ADP Employment Change came in at +9K v -20Ke
[08:18] {Threei} ** Nov Fed Fund Future sees 60% chance of 25bps hike by the middle of the fall
[08:18] {Threei} - Reminder: Back month nonfarm payrolls have encountered 5 consecutive month of downward revisions
[08:30] {Threei} JUL UNEMPLOYMENT RATE: 5.7% V 5.6%E
[08:30] {Threei} JUL CHANGE IN NONFARM PAYROLLS: -51K V -75KE; CHANGE IN MANUFACTURING PAYROLLS: -35K V -40KE
[08:30] {Threei} - Prior Jun Nonfarm Payrolls revised Lower from - 62K to -51K Note: (sixth straight month of lower revisions in back months)
[08:31] {Threei} JULY AVERAGE HOURLY EARNINGS M/M: 0.3% V 0.3%E; AVERAGE WEEKLY AVERAGE: 336. V 33.7E
[08:35] {Threei} .v raven
[08:37] {Raven} 3 .v Threei
[08:37] {Threei} sigh
[08:37] {Raven} 3 rofl
[08:37] {Threei} frikin script just won't work as it should :)
[08:37] {Raven} 3 you trying to vaporize me?
[08:38] {Threei} it's not personal
[08:38] {Raven} 3 OK
[08:38] {Threei} just a ingrained reaction... I try to vaporize anyone in sight
[08:38] {Raven} 3 be careful
[08:39] {Threei} you know... "vaporize or be vaporized"...
[08:39] {Raven} 3 sigh
[08:44] {Threei} FORMER FED MEMBER POOLE SAYS INFLATION PROBLEM DEVELOPING OVER LONGER TERM
[08:44] {Threei} seriously?
[08:45] {Threei} I'll say... considering that today's dollar costs what, 6% of dollar before Fed creation?
[08:46] {Raven} 3 long term we're all dead
[08:49] {Threei} ABK
[08:49] {Threei} SETTLES $1.4B CDO SQUARED TRANSACTION, MAKING PAYMENT OF $850M
[08:49] {Threei} - Company has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction
[08:50] {Raven} 3 don't fall into the tranches
[08:51] {Threei} ELN back into support
[08:59] {magoo} morn
[08:59] {Threei} magoo :)
[09:03] {magoo} vad, yesterday u were saying u like to hang around all day on slow days because u never know if IF something developes
[09:03] {magoo} well, i almost always like to do same for after hours
[09:04] {Threei} during earnings season, sure
[09:04] {magoo} point being..last night at 5 pm ELN starts rolling over on scanner from 22 all way to 10..i shorted it several
[09:04] {magoo} points
[09:04] {magoo} made like 1400
[09:05] {magoo} just saying
[09:05] {magoo} , it hit under 10
[09:05] {magoo} ffrom 22 area, plus biib went down with it,
[09:06] {Threei} nice, congratulations
[09:06] {magoo} but u gotta sit till 6 pm cause nev er know, movwes come after conference calls at 5 lots of times
[09:06] {Threei} yeah
[09:06] {Threei} well, one needs to draw a line somewhere
[09:06] {magoo} prob is i never get home till 7 pm {wife no like that}
[09:06] {Threei} otherwise it never ends... one market closes, another opens
[09:07] {Threei} pretty soon you are trading 24/7
[09:07] {magoo} friday afterhours worthless though, no action
[09:08] {magoo} i was only doing 100 shares..thats why didnt do better
[09:09] {magoo} but it was risky of course
[09:10] {peterg} morning
[09:10] {peterg} gj magoo
[09:10] {magoo} i just trade until i make what i think raven makes for day he he
[09:11] {magoo} BIIB
[09:11] {magoo} news vad?
[09:11] {Threei} peter :)
[09:12] {Threei} same as ELN
[09:12] {magoo} it hit 52 last night..back there now
[09:12] {Threei} they are in that drug together
[09:12] {magoo} i thought wye was with eln
[09:12] {lars} morning all
[09:12] {Threei} lars :)
[09:13] {Threei} abk
[09:13] {Threei} possible player today
[09:13] {magoo} lars:)
[09:14] {cosmo} PWAV should hold 4.25 imo
[09:15] {cosmo} ... for a 4.35 break...
[09:17] {fernp} Good morning
[09:17] {Threei} fern :)
[09:22] {lars} nice job last night magoo :)
[09:23] {lars} better take wife to nice dinner though :)
[09:24] {Raven} 3 {---------- checking for a magoo spy camera
[09:26] {magoo} you're getting warmer, there, there, oops..wrong turn
[09:26] {Raven} 3 lol
[09:26] {Threei} C
[09:26] {Threei} DISCLOSES STATUS AS COUNTERPARTY IN ABK TRANSACTION ANNOUNCED EARLIER TODAY
[09:26] {Threei} {ABK}
[09:27] {dptl} good morning all
[09:27] {Threei} ELN is scalpable on bounce but right now it's in uncharted territory, can't tell where the entry is
[09:27] {Threei} dp :)
[09:28] {Threei} 07:17am [GM] CEO: Production fell by about 27% in Q2, overseas operations are performing well, liquidity plan is on track, have cash to cover needs through 2009
[09:29] {Threei} 06:59am [GM] Reports Q2 -$11.21 v -$2.62e (Ex items) , R $38.15B v $44.57Be, To draw $1.0B from credit lines, Records $9.1B charge
[09:29] {Threei} DEMOCRATIC PRESIDENTIAL CANDIDATE OBAMA SAYS HE WOULD BACK A WINDFALL TAX ON OIL COMPANIES
[09:29] {Threei} {XOM CVX USO}
[09:30] {cosmo} that's better than nationalizing them i guess...
[09:31] {Threei} half lot long ELN
[09:31] {Threei} stop under .60
[09:31] {Threei} can take several attempts
[09:32] {esemde} morning......
[09:32] {Threei} ese :)
[09:33] {Threei} feel fre to take profit ELN
[09:33] {esemde} hey
[09:33] {Threei} out 11.05, +.35
[09:33] {esemde} Irish Whisky.............thats all i'm going to say!
[09:34] {Threei} anyone got ELN?
[09:34] {Threei} that panic dive to .70 was a godsend
[09:34] {lars} out at 11.08 +.31
[09:34] {Threei} wtg
[09:34] {peterg} out with a small .12
[09:35] {lars} thx... to you :)
[09:35] {Threei} VVUS
[09:35] {Threei} .75 break long, stop under .55, possible swing trade
[09:35] {Threei} generally slow one
[09:36] {Threei} don't touch it if not willing to sit on it for a while
[09:36] {magoo} hence magoo back off
[09:36] {Threei} ABK
[09:36] {Threei} .21 long, stop under 3
[09:37] {magoo} 100 sh l CME
[09:38] {magoo} 351
[09:39] {magoo} too soon
[09:39] {esemde} long VPRT 29.61
[09:40] {magoo} that sucked out minus 500
[09:40] {esemde} out Vprt .95 3/4 lot
[09:40] {esemde} holly!!!!
[09:40] {esemde} in out bang bang
[09:40] {esemde} barely time to typole this
[09:41] {Threei} nice scalping footwork
[09:41] {esemde} that was really fast Vad
[09:41] {Threei} VVUS chews resistance
[09:41] {Threei} the best kind ese...
[09:42] {Threei} leave it to analyst to discuss for days why it went up
[09:43] {Threei} what just happened?
[09:46] {Roman} 21 long GLD
[09:46] {esemde} happened to what Vad?
[09:46] {Roman} 21 small
[09:46] {Threei} market
[09:46] {Threei} sudden drop
[09:46] {esemde} NDX is tanking on my monitor
[09:47] {esemde} news?
[09:47] {Threei} that was what I asked :)
[09:47] {Threei} I s\ee none
[09:47] {hawkfan4} none here
[09:47] {esemde} me either
[09:47] {Threei} PREVIEW: JULY ISM MANUFACTURING COMPOSITE DUE OUT AT 10AMET
[09:47] {Threei} **consensus expectation: 49.0e v prior 50.2
[09:47] {Threei} - Prices paid expected at 88.0 v 91.5 prior (which was highest prices paid since July 1979)
[09:48] {esemde} Sunh bstop 15.61 1/2 lot
[09:49] {judijim} gm all
[09:49] {Threei} jj :)
[09:49] {esemde} jj
[09:49] {Threei} wanted to short NSANY, then remembered I have two of their cars
[09:49] {Threei} and happy with both
[09:49] {Threei} GM not in a short list
[09:50] {esemde} long SUNH
[09:50] {Roman} 21 long GOLD small
[09:50] {esemde} out SUNH
[09:50] {Roman} 21 49.41
[09:51] {esemde} .89
[09:51] {Threei} lol ese
[09:51] {Threei} you arwe making money today faster than you can report
[09:51] {esemde} man oh man...
[09:51] {Threei} all while market dropping like there is no tomorrow
[09:51] {esemde} shooting up like rockets.....
[09:52] {Roman} 21 watching HK setup
[09:52] {Threei} nice feeling of mastering this thing eh?
[09:52] {Roman} 21 long
[09:52] {esemde} going up so fast can barely type to keep up...
[09:52] {Threei} no thinking involved... eye to finger reaction
[09:52] {esemde} exactly
[09:52] {Threei} brain inbetween is canceled
[09:52] {hawkfan4} geesh, no news
[09:52] {Roman} 21 long HK small
[09:52] {esemde} indeed!
[09:53] {Threei} ok, what the heck is going on?
[09:53] {Roman} 21 33.75
[09:53] {Roman} 21 unemployment numbers this morning
[09:53] {Roman} 21 taking toll
[09:53] {Roman} 21 imo
[09:53] {Roman} 21 commodities stroong sofar
[09:53] {Threei} they are over an hour old
[09:54] {Threei} and they weren't too bad
[09:54] {magoo} how bad we close yesterday?
[09:54] {Threei} in green
[09:55] {Threei} 20 points NQ off the high though
[09:55] {magoo} dow?
[09:56] {Threei} 8.02 long UAUA
[09:56] {Threei} 7.94 stop
[09:59] {Threei} invalidated
[09:59] {Threei} numbers in a min
[09:59] {Threei} VVUS is nicely oblivious to the market
[09:59] {magoo} l rimm 120
[09:59] {magoo} small
[10:00] {Threei} *JUNE CONSTRUCTION SPENDING (M/M): -0.4% V -0.3%E
[10:00] {Threei} prior revised to 0.0% from -0.4%
[10:00] {magoo} out .60
[10:00] {magoo} +.60
[10:01] {Roman} 21 magoo is back
[10:01] {Roman} 21 out HK
[10:01] {magoo} cme cracked me
[10:01] {magoo} nasty
[10:01] {magoo} its a dino play
[10:01] {magoo} need the dino i gues
[10:02] {Roman} 21 that guy is still on vacation?
[10:02] {magoo} yeah
[10:02] {Roman} 21 nice
[10:02] {magoo} only his 3rd with 2 more coming for yr
[10:03] {Roman} 21 his 3rd vacation this year?
[10:03] {Threei} *JULY ISM MANUFACTURING: 50 V 49E; PRICE PAID: 88.5 V 88E
[10:03] {Threei} - Employment Index 51.9 v 43.7 prior{SPY EUR/USD}
[10:03] {magoo} yeah, mexico, 2 north caro..plus jamaca coming and 1 more caro
[10:03] {magoo} bastard lol
[10:03] {Roman} 21 damn, you guys making serious $$$
[10:04] {magoo} HEY..i took nopne
[10:04] {magoo} mnone
[10:04] {magoo} none
[10:04] {Roman} 21 i wish some day i can be like you
[10:04] {magoo} i haven't been on family vaca in years
[10:04] {Roman} 21 out GLD +.40
[10:05] {Roman} 21 out GOLD +.76
[10:05] {Roman} 21 all small
[10:06] {Roman} 21 watching RGLD for long
[10:06] {Roman} 21 small
[10:06] {Threei} wtg
[10:07] {Roman} 21 i think GOLD got more
[10:07] {Roman} 21 look at commodities
[10:07] {Roman} 21 damn
[10:07] {Roman} 21 ROYL
[10:07] {Roman} 21 in
[10:08] {Roman} 21 .95
[10:10] {laserdave1} hawkfan dcc when u get a sec
[10:10] {magoo} what would be very unexpected is if IF this mkt could turn around here and go green big
[10:10] {Roman} 21 NCOC
[10:13] {magoo} l aapl .55
[10:14] {magoo} small 300
[10:14] {magoo} wait 157.17
[10:14] {Roman} 21 in with u
[10:15] {magoo} .95 prints
[10:17] {magoo} out .14 THERE
[10:17] {magoo} .17 THERE
[10:18] {magoo} easy too
[10:18] {magoo} never neg
[10:18] {lars} +.41 aapl u da man magoo :)
[10:19] {Threei} I don't worry about you guys at all for the time of my Alaska cruise
[10:20] {magoo} u should check in once in awhiole if access boss
[10:20] {Threei} nope
[10:20] {magoo} when u leaving?
[10:20] {Threei} next Sat
[10:21] {magoo} dates?
[10:21] {Threei} Aug 9 - 16
[10:23] {Roman} 21 all these people are just on vacation
[10:23] {Roman} 21 i have not had one in ages
[10:23] {Roman} 21 amazing
[10:23] {Threei} you live in Florida, you whole life is vacation
[10:23] {Roman} 21 something must be wrong with me
[10:23] {GeoArb} i have been on vacation a day here and there
[10:23] {magoo} roflol
[10:30] {Threei} US STATE DEPT NOTES EXPECTING A RESPONSE FROM IRAN ON ITS LATEST NUCLEAR INCENTIVES OFFER OVER THE WEEKEND (THE EXISTING DEADLINE FOR A RESPONSE IS THIS WEEKEND)
[10:30] {Threei} {USO}
[10:31] {Threei} OPEC MIN: OPEC WILL INTERVENE IN OIL MARKET IF SUPPLY SURPASSES DEMAND TO CREATE BALANCE
[10:31] {Threei} {USO OIH}
[10:38] {magoo} l rimm 120
[10:38] {magoo} sm
[10:39] {magoo} 200 bux stop whatever size
[10:39] {magoo} lay out .61
[10:40] {lars} iwas just gonna ask target... i need to type faster
[10:41] {Roman} 21 WM
[10:44] {Roman} 21 .
[10:46] {magoo} i have 300 sh so my stiop is .39
[10:46] {magoo} trade needs mkt power
[10:46] {Roman} 21 99% chance u will make money
[10:46] {Roman} 21 on this trade
[10:46] {kazaam} what do you thik about NYX double bottom
[10:46] {magoo} safer exit .33
[10:46] {kazaam} oh damn, just moved
[10:46] {lars} abk moving
[10:46] {kazaam} nevermind vad
[10:47] {magoo} on WM rfr?
[10:47] {Roman} 21 RIMM
[10:47] {magoo} oh
[10:47] {Roman} 21 u on RIMM
[10:48] {Roman} 21 u got the power
[10:48] {magoo} i leave exit at .61
[10:48] {Roman} 21 why not $125
[10:49] {magoo} well...if IF mkt goes green yeah
[10:49] {Roman} 21 WM sqeezing short a bit
[10:55] {Threei} ABK is serious aabout squeezing today
[11:00] {Threei} MER .61 long if stays above .50
[11:01] {Threei} invalidated
[11:01] {Threei} PREVIEW: JULY US VEHICLE SALES NUMBERS EXPECTED THROUGHOUT THE DAY FROM MAJOR AUTO MAKERS
[11:01] {Threei} **consensus estimates:
[11:01] {Threei} - Ford: -20%e adjusted basis (usually released at Noon ET).
[11:01] {Threei} - GM: -25%e adjusted basis (usually released around 1:45pmET).
[11:01] {Threei} - July 2008 had 26 selling days, two more than July 2007. On an unadjusted basis, the estimates above would be higher by about 8% (i.e F -12%e, and GM -17%e).
[11:04] {magoo} out rimm
[11:04] {magoo} dont lose here
[11:04] {magoo} had .51
[11:12] {Roman} 21 CHK
[11:12] {Roman} 21 long small 50.32 stop under 50
[11:18] {Threei} WHITE HOUSE: PREMATURE TO DISCUSS A 2ND ECONOMIC STIMULUS
[11:23] {Threei} ABK is aiming for 4 and above
[11:24] {Threei} CHRYSLER IS REPORTEDLY INCREASING INCENTIVES FOR PURCHASES AFTER END TO LEASING PROGRAM, PROVIDING $2K CASH BACK IN ADDITION TO 6 YR, INTEREST FREE LOANS
[11:24] {Threei} {F GM}
[11:25] {esemde} 6 year interest free loans??? there nuts
[11:25] {Threei} they need to get rid of lease at this point
[11:26] {GeoArb} they are all loosing money hand over fist on leases
[11:26] {Threei} IMO, in preparation for total fleet revamping which is going to make gasoline-based cars impossible to sell
[11:26] {Threei} not really Geo
[11:26] {Threei} lease is more pfoitable for them
[11:26] {GeoArb} in fact one of them stopped leasing
[11:26] {GeoArb} right now
[11:27] {GeoArb} lemme find the article
[11:27] {Threei} all 3 actually are backing away of it
[11:27] {GeoArb} yeah
[11:27] {Threei} don't bother, I read it
[11:27] {GeoArb} heheh
[11:27] {Threei} but their abandoning lease is not based on losing money on it
[11:27] {GeoArb} credit crunch
[11:27] {GeoArb} and resale lower than projection
[11:27] {Threei} they lease you a car,
[11:28] {Threei} you come back in 3-4 years,
[11:28] {Threei} dump a car in their lap,
[11:28] {Threei} and get another one.
[11:28] {Threei} ABK 4
[11:28] {Threei} Everything worked fine while business was as usual
[11:28] {Threei} However when they are in the middle of turning their fleet into different technology
[11:29] {Threei} old cars will be unsellable
[11:29] {Threei} aand they prefer to sell it to you today and have you stuck with it
[11:29] {Threei} instead of you dumping it on them, get your new shining super-duper-nuclear-hydrogen-electric
[11:29] {Threei} and them stuck with obsolete gasolin dybosaur they can't sell
[11:30] {GeoArb} also IMO they are having difficulty in credit to pass along
[11:30] {Threei} everyone does...
[11:30] {GeoArb} i like amtrack
[11:30] {Threei} that's of less concern to them though
[11:31] {Threei} they still give you financing, right?
[11:31] {GeoArb} i am a socialist rubbing sholders with other commoners
[11:31] {Threei} need credit for that even more than for lease
[11:32] {Threei} anyone found entry on ABK?
[11:32] {GeoArb} what no socialist comment sneers?
[11:32] {GeoArb} man.....
[11:32] {lars} +.17 on ABK
[11:33] {lars} thx Vad
[11:33] {Threei} :)
[11:34] {kazaam} vad, which scanner first popped up ABK?
[11:35] {Threei} news bfore open
[11:35] {kazaam} trade the news?
[11:36] {Threei} [08:49] {Threei} ABK
[11:36] {Threei} [08:49] {Threei} SETTLES $1.4B CDO SQUARED TRANSACTION, MAKING PAYMENT OF $850M
[11:36] {Threei} [08:49] {Threei} - Company has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction
[11:36] {kazaam} ty
[11:37] {Threei} [09:13] {Threei} abk
[11:37] {Threei} [09:13] {Threei} possible player today
[11:40] {esemde} The other thing about those interest free loans is that Gm gets there money right away anyway. Principal and interest. All they do is sell the loan to a cllection agency whom are just brutal when it comes to collecting from you.
[11:52] {Threei} trying to get a feel if ABK done or worth a bounce
[11:52] {Threei} not sure
[12:02] {kazaam} when does regular trading "summer" start and end?
[12:05] {Threei} mid-June - Labor day
[14:05] {Threei} US STATE DEPT NOTES EXPECTING A RESPONSE FROM IRAN ON ITS LATEST NUCLEAR INCENTIVES OFFER OVER THE WEEKEND (THE EXISTING DEADLINE FOR A RESPONSE IS THIS WEEKEND)
[14:05] {Threei} {USO}
[14:05] {Threei} OPEC MIN: OPEC WILL INTERVENE IN OIL MARKET IF SUPPLY SURPASSES DEMAND TO CREATE BALANCE
[14:05] {Threei} {USO OIH}
[14:05] {magoo} l rimm 120
[14:05] {magoo} sm
[14:05] {magoo} 200 bux stop whatever size
[14:05] {magoo} lay out .61
[14:05] {lars} iwas just gonna ask target... i need to type faster
[14:05] {Roman} 21 WM
[14:05] {Roman} 21 .
[14:05] {magoo} i have 300 sh so my stiop is .39
[14:05] {magoo} trade needs mkt power
[14:05] {Roman} 21 99% chance u will make money
[14:05] {Roman} 21 on this trade
[14:05] {kazaam} what do you thik about NYX double bottom
[14:05] {magoo} safer exit .33
[14:05] {kazaam} oh damn, just moved
[14:05] {lars} abk moving
[14:05] {kazaam} nevermind vad
[14:05] {magoo} on WM rfr?
[14:05] {Roman} 21 RIMM
[14:05] {magoo} oh
[14:05] {Roman} 21 u on RIMM
[14:05] {Roman} 21 u got the power
[14:05] {magoo} i leave exit at .61
[14:05] {Roman} 21 why not $125
[14:05] {magoo} well...if IF mkt goes green yeah
[14:05] {Roman} 21 WM sqeezing short a bit
[14:05] {Threei} ABK is serious aabout squeezing today
[14:05] {Threei} MER .61 long if stays above .50
[14:05] {Threei} invalidated
[14:05] {Threei} PREVIEW: JULY US VEHICLE SALES NUMBERS EXPECTED THROUGHOUT THE DAY FROM MAJOR AUTO MAKERS
[14:05] {Threei} **consensus estimates:
[14:05] {Threei} - Ford: -20%e adjusted basis (usually released at Noon ET).
[14:05] {Threei} - GM: -25%e adjusted basis (usually released around 1:45pmET).
[14:05] {Threei} - July 2008 had 26 selling days, two more than July 2007. On an unadjusted basis, the estimates above would be higher by about 8% (i.e F -12%e, and GM -17%e).
[14:05] {magoo} out rimm
[14:05] {magoo} dont lose here
[14:05] {magoo} had .51
[14:05] {Roman} 21 CHK
[14:05] {Roman} 21 long small 50.32 stop under 50
[14:05] {Threei} WHITE HOUSE: PREMATURE TO DISCUSS A 2ND ECONOMIC STIMULUS
[14:05] {Threei} ABK is aiming for 4 and above
[14:05] {Threei} CHRYSLER IS REPORTEDLY INCREASING INCENTIVES FOR PURCHASES AFTER END TO LEASING PROGRAM, PROVIDING $2K CASH BACK IN ADDITION TO 6 YR, INTEREST FREE LOANS
[14:05] {Threei} {F GM}
[14:05] {esemde} 6 year interest free loans??? there nuts
[14:05] {Threei} they need to get rid of lease at this point
[14:05] {GeoArb} they are all loosing money hand over fist on leases
[14:05] {Threei} IMO, in preparation for total fleet revamping which is going to make gasoline-based cars impossible to sell
[14:05] {Threei} not really Geo
[14:05] {Threei} lease is more pfoitable for them
[14:05] {GeoArb} in fact one of them stopped leasing
[14:05] {GeoArb} right now
[14:05] {GeoArb} lemme find the article
[14:05] {Threei} all 3 actually are backing away of it
[14:05] {GeoArb} yeah
[14:05] {Threei} don't bother, I read it
[14:05] {GeoArb} heheh
[14:05] {Threei} but their abandoning lease is not based on losing money on it
[14:05] {GeoArb} credit crunch
[14:05] {GeoArb} and resale lower than projection
[14:05] {Threei} they lease you a car,
[14:05] {Threei} you come back in 3-4 years,
[14:05] {Threei} dump a car in their lap,
[14:05] {Threei} and get another one.
[14:05] {Threei} ABK 4
[14:05] {Threei} Everything worked fine while business was as usual
[14:05] {Threei} However when they are in the middle of turning their fleet into different technology
[14:05] {Threei} old cars will be unsellable
[14:05] {Threei} aand they prefer to sell it to you today and have you stuck with it
[14:05] {Threei} instead of you dumping it on them, get your new shining super-duper-nuclear-hydrogen-electric
[14:05] {Threei} and them stuck with obsolete gasolin dybosaur they can't sell
[14:05] {GeoArb} also IMO they are having difficulty in credit to pass along
[14:05] {Threei} everyone does...
[14:05] {GeoArb} i like amtrack
[14:05] {Threei} that's of less concern to them though
[14:05] {Threei} they still give you financing, right?
[14:05] {GeoArb} i am a socialist rubbing sholders with other commoners
[14:05] {Threei} need credit for that even more than for lease
[14:05] {Threei} anyone found entry on ABK?
[14:05] {GeoArb} what no socialist comment sneers?
[14:05] {GeoArb} man.....
[14:05] {lars} +.17 on ABK
[14:05] {lars} thx Vad
[14:05] {Threei} :)
[14:05] {kazaam} vad, which scanner first popped up ABK?
[14:05] {Threei} news bfore open
[14:05] {kazaam} trade the news?
[14:05] {Threei} [08:49] {Threei} ABK
[14:05] {Threei} [08:49] {Threei} SETTLES $1.4B CDO SQUARED TRANSACTION, MAKING PAYMENT OF $850M
[14:05] {Threei} [08:49] {Threei} - Company has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction
[14:05] {kazaam} ty
[14:05] {Threei} [09:13] {Threei} abk
[14:05] {Threei} [09:13] {Threei} possible player today
[14:05] {esemde} The other thing about those interest free loans is that Gm gets there money right away anyway. Principal and interest. All they do is sell the loan to a cllection agency whom are just brutal when it comes to collecting from you.
[14:05] {Threei} trying to get a feel if ABK done or worth a bounce
[14:05] {Threei} not sure
[14:05] {kazaam} when does regular trading ""summer"" start and end?
[14:18] {peterg} hello?
[14:19] {Threei} hi
[14:19] {Threei} one made it
[14:19] {peterg} just got email with right entry
[14:19] {Threei} we sent e-mail to all members
[14:19] {peterg} good to be back.
[14:20] {peterg} what was that all about?
[14:20] {Threei} server problem at ChatSpace
[14:20] {peterg} server crash
[14:20] {peterg} ok, onwards; whats up?
[14:20] {Threei} no idea... looking around
[14:24] {peterg} server refused me entry for until it decided it liked me
[14:24] {Threei} ELN is a disaster... short on bonuses
[14:26] {Threei} no one reads e-mails I take it
[14:27] {peterg} i was corresponding with RT svs
[14:27] {Threei} yes
[14:27] {Threei} we sent mass e-maiol with new IP
[14:27] {peterg} so primed
[14:27] {peterg} i dont think i got that
[14:28] {peterg} no; didntget
[14:28] {patience} didn't get an email vad
[14:28] {Threei} sigh
[14:28] {patience} remembered to go to the RT site for the ip string
[14:28] {peterg} thats why its just you me, now patience
[14:28] {patience} sounds good, let's make all the money today :)
[14:28] {Threei} yes... it has changed, site just got updated
[14:29] {Threei} short the hell out of ELN, this thing is not done dropping... IMO
[14:30] {Threei} if we get lucky to have it bounced to 10.5 would be great
[14:31] {peterg} short at .91
[14:31] {Threei} stop over 10
[14:34] {Threei} needs better bounce
[14:35] {kazaam} thought my time ran out
[14:35] {Threei} lol
[14:35] {Threei} you got e-mail?
[14:35] {kazaam} yeah
[14:35] {kazaam} how many days do i have?
[14:36] {kazaam} once i get the email?
[14:36] {Threei} I mean e-mail with new server IP to login the room
[14:37] {kazaam} oh, yeah i got new server IP email
[14:37] {kazaam} how would i get here if i didnt get it?
[14:37] {Threei} well, there is a reserve server on our website
[14:37] {kazaam} Ohhhh
[14:37] {Threei} on trasding room page
[14:38] {Threei} you can pull it from there
[14:38] {kazaam} gotcha, spicing up summer trading i see
[14:38] {Threei} hehe
[14:41] {peterg} still likee short ELN?
[14:41] {Threei} yes... just hard to time it here, too nervous trader
[14:41] {peterg} i am a nervous trader
[14:41] {peterg} too
[14:42] {peterg} wkg on it
[14:42] {Threei} leave it alone then, it's not an easy stock
[14:45] {kazaam} when does "summer" trading end and begin?
[14:46] {Threei} mid-June - Labor day
[14:46] {Threei} usually
[14:56] {kazaam} ty
[15:04] {peterg} dcc laserdave1
[15:09] {Threei} C
[15:09] {Threei} NY ATTY GENERAL CUOMO MAY CHARGE CITIGROUP WITH FRAUD OVER AUCTION RATE SECURITIES MARKETING - CNBC
[15:09] {Threei} - Cuomo notes that the charges may ask that Citigroup buy ARS back from customer at PAR
[15:09] {Threei} - Reminder earlier this morning Citigroup disclosed the SEC had issued a formal order of investigation related to ARS
[15:10] {peterg} Memo to self: when short, do not sell to end transaction.
[15:10] {peterg} You only sell more......
[15:10] {kazaam} lol peter, i have 10 of those memos posted around my desk
[15:10] {kazaam} i guess they havent been working for me
[15:10] {peterg} u 2?
[15:12] {kazaam} i started to use only hotkeys because my memos were piling up
[15:14] {peterg} ok all calling it a day--bye kaz, laz, vad, pat
[15:14] {Threei} take care peter
[15:26] {magoo} HEY
[15:26] {patience} oh magoo!!! i missed you.
[15:26] {magoo} was here..knocked out
[15:28] {magoo} ty vad
[15:29] {laserdave1} hey mags
[15:29] {magoo} hi dave
[15:29] {Threei} what a pain
[15:29] {laserdave1} magoo
[15:29] {laserdave1} ya i know
[15:29] {Threei} chatspace had to physically relocate server
[15:29] {laserdave1} he can drive ya cooky
[15:29] {laserdave1} :)
[15:29] {magoo} i was out like hour
[15:36] {Threei} ABK looks to go over 4 once more
[15:40] {magoo} any reports after bell?
[15:40] {Threei} nothing of significance
[15:41] {Threei} ARBA is dfoing it again or what
[15:41] {Threei} runup with no news
[15:56] {Threei} OK guys, have a great weekend
[15:56] {Threei} see you on Monday
[15:56] {magoo} ok ty vad
[15:57] {Threei} dns propagation should occur till then
[15:57] {Threei} so no need in reserve server
[15:57] {Threei} but if not, use this new one
[15:58] {Threei} it posted at http://www.realitytrader.com/tradingroom/ in red letters closer to the bottom of the page
[16:01] {laserdave1} later everyone
