Sep 30 2008
Session Time: Tue Sep 30 00:00:00 2008
[07:59] {magoo} morning
[08:05] {Threei} Good morning
[08:05] {magoo} vad:)
[08:10] {Threei} T. BOONE PICKENS: BELIEVES A BAILOUT DEAL WILL HAPPEN ON THURSDAY, THE DROP IN THE DJIA HAS BEEN SOBERING
[08:10] {Threei} - We will face another crisis in energy soon, we already pay about $700B a year for foreign oil.
[08:11] {Threei} guy becomes plain annoying
[08:30] {magoo} what u stalking vad?
[08:31] {Threei} just looking around so far
[08:31] {Threei} too unclear what happens next
[08:31] {Threei} C...
[08:31] {Threei} VLNC...
[08:33] {Onix} Good morning all
[08:33] {Threei} Onix :)
[08:40] {Threei} Raven... checked on a sky this morning?
[08:40] {dino} gm all
[08:40] {Threei} falling? holding?
[08:40] {Threei} dino :)
[08:41] {Raven} some light fog
[08:41] {Threei} light?
[08:41] {Threei} wow
[08:41] {Raven} {-----------. checking radar
[08:42] {Raven} clouds to the west ... rain may occur today
[08:42] {Threei} OK... as long as sky is still up there
[08:42] {Raven} bring the umbrella
[08:45] {Threei} Bush on TV
[08:47] {Raven} that'll be a big help
[08:48] {Threei} PRESIDENT BUSH: THIS IS NOT THE END OF THE LEGISLATIVE PROCESS, WHAT MATTERS IS THAT WE GET A LAW AT THIS CRITICAL MOMENT
[08:48] {Threei} - The reality is that we are in an urgent situation, with consequences worsening day by day. If US continues on this course, the economic damage will be painful and lasting.
[08:48] {Threei} - There's no question the $700B amount is a large amount of money. But the economy depends on decisive action from Congress.
[08:53] {peterg} Morning all
[08:54] {Threei} peter :)
[09:09] {dino} hmmmmmmmmm
[09:09] {dino} probabilities
[09:09] {Threei} what about them?
[09:10] {GeoArb} gm
[09:10] {Threei} Geo :)
[09:11] {magoo} R
[09:11] {magoo} A
[09:11] {magoo} V
[09:11] {magoo} E
[09:11] {magoo} N
[09:11] {magoo} an oldie but gooodie
[09:11] {dino} thinking out loud.
[09:11] {dino} gap open up?
[09:12] {cosmo} backs possibly
[09:12] {cosmo} banks
[09:13] {cosmo} not probable tho
[09:13] {dino} ddm?
[09:14] {dino} qld?
[09:14] {dino} sso?
[09:14] {Raven} M aaaa GGGGGGGGGG ooooo OOOOOOOOOOOOOOOOOOOOOO !
[09:15] {dino} sm l ddm .67, will let it move around a bit
[09:18] {fernp} Good morning all
[09:18] {cosmo} lets hope
[09:18] {Threei} fern :)
[09:20] {dptl} good morning all
[09:20] {Threei} dp :)
[09:25] {Threei} I don't have clear play for opening
[09:25] {Threei} looking
[09:28] {cosmo} ASML: Significant Progress in EUV Lithography Program; Reveal
[09:28] {cosmo} Roadmap that Extends Semiconductor Manufacturing to 11 Nanometers and Beyond
[09:29] {magoo} pop...drop..pop...drop....
[09:29] {magoo} there vad
[09:29] {Threei} sop, long POP and short DROP?
[09:29] {esemde} good morning
[09:29] {esemde} you sure called yesterday right Vad
[09:30] {Threei} ese :)
[09:30] {Threei} ty
[09:31] {Threei} watching C
[09:32] {magoo} watching rimm
[09:32] {Threei} broke out too fast
[09:32] {Threei} .20 break was the idea but wanted some more consolidation before the break
[09:33] {peterg} rimm bouncing ball
[09:33] {Threei} pullback should be buyable
[09:33] {Threei} .20 break again
[09:34] {Threei} stop under .10
[09:35] {Threei} stop to .14
[09:36] {GeoArb} hmm in .21 half out .32
[09:36] {Threei} hesitates too long for my taste
[09:36] {GeoArb} .34
[09:36] {Threei} not bad Geo, that's playing safe
[09:36] {GeoArb} was 1:1
[09:36] {Threei} yup
[09:36] {Threei} .15 held on this pullback, so stop is trailed right
[09:37] {Threei} stop to .19 now
[09:37] {Threei} half out .39
[09:37] {Threei} risk is minimal here
[09:37] {Threei} out
[09:37] {Threei} .17
[09:38] {dino} c l .15
[09:38] {Onix} ty Vad, i got 15c in C
[09:38] {dino} stop .96
[09:38] {Threei} :)
[09:38] {Threei} good entry dino
[09:39] {dino} lucky
[09:39] {Threei} if you say so
[09:39] {Threei} ugh WB
[09:41] {magoo} ouyt .41 TY vad C
[09:41] {Threei} welcome
[09:42] {GeoArb} sheesh maggo
[09:42] {GeoArb} you left the scalper ranks
[09:43] {dino} c stop to .49
[09:43] {Threei} magoo hateth stinkin' scalpers
[09:43] {dino} out +.34 ty vad
[09:43] {Threei} :)
[09:43] {magoo} :)
[09:45] {GeoArb} consumer conf at 10?
[09:45] {Threei} SEPT CHICAGO PURCHASING MANAGER'S INDEX: 56.7 V 53.0E
[09:45] {hawkfan4} yes geo
[09:46] {GeoArb} so magoo ... did you partial or all in all out?
[09:46] {magoo} all out
[09:46] {magoo} always
[09:46] {GeoArb} nice
[09:46] {magoo} i look to reload pullbks if stiull like it
[09:46] {GeoArb} i was carefull after being a coqboy yesterday
[09:47] {GeoArb} ooooh
[09:47] {GeoArb} cowboy
[09:47] {magoo} gotta remember too...magoo in other plays so can't be waiting around
[09:47] {GeoArb} heheh true
[09:48] {magoo} i flipped bidu and rimm at same time as that
[09:48] {magoo} to fast to post unfortunately
[09:48] {GeoArb} yup
[09:48] {GeoArb} nice drop c
[09:48] {magoo} goota just "feel"them]
[09:49] {dino} ddm stopped -.52 thats messed up
[09:50] {Threei} PREVIEW: SEPT CONSUMER CONFIDENCE DUE OUT AT 10AMET
[09:50] {Threei} - consensus expectation: 55.0e v 56.9 prior
[09:50] {magoo} OY
[09:50] {magoo} cant be good number
[09:50] {Threei} so, expectation is that confidence is just half inch above baseboard
[09:52] {GeoArb} no correlation between oil and market now
[09:53] {GeoArb} CL tanking
[09:53] {Threei} no, other worries took over
[09:53] {Threei} oil retreated far enough to stop being major factor
[09:53] {GeoArb} true
[09:53] {Threei} and financial worries are overpowering
[09:56] {peterg} rbr dirty harry's question: Well, punk, do you feel lucky???
[09:57] {dino} lol
[09:58] {cosmo} CNXT hod = 3.94
[09:58] {cosmo} fwiw
[09:59] {GeoArb} what I find interesting is that despite bailout failure financials didnt make new lows
[10:00] {Threei} SEPT CONSUMER CONFIDENCE: 59.8V 55.0E
[10:00] {Threei} - prior revised from 56.9 to
[10:00] {Threei} - no revision to prior 56.9
[10:00] {magoo} sheesh
[10:00] {GeoArb} confidence increased?
[10:00] {Threei} hehe
[10:01] {esemde} l BRCM .82
[10:02] {Threei} Long Setup: WB 2.78
[10:02] {esemde} stop .69 full lot
[10:03] {Threei} this pullback will show the stop level
[10:03] {Threei} under .60 invalidated as breakout
[10:03] {esemde} bouncing around like a rabit
[10:06] {Threei} C is running again
[10:06] {magoo} l rimm .3
[10:06] {magoo} here
[10:07] {Threei} my stop .65 on WB for now
[10:08] {magoo} rimm stop 63.88
[10:08] {magoo} in small
[10:08] {esemde} stop to .80
[10:08] {dino} fcx sm l .50
[10:09] {Threei} MP SECURITIES RAISED RIMM TO MARKET OUTPERFORM FROM MARKET PERFORM
[10:09] {Threei} - pre-open
[10:10] {magoo} stopped
[10:10] {magoo} figures
[10:10] {Threei} WB half out .93
[10:10] {Threei} stop to .79
[10:11] {Threei} offering balance 3.05
[10:11] {magoo} out here vad .93 TY
[10:11] {magoo} FL
[10:11] {Threei} :)
[10:12] {magoo} l rimm AGAIN .33
[10:12] {dino} fwlt sm l .25
[10:12] {Threei} out
[10:12] {GeoArb} out
[10:12] {Threei} nice and easy
[10:12] {Threei} stop never jeopradized
[10:12] {GeoArb} sheer magnificence vad
[10:12] {Threei} that's my middle name, yeah
[10:12] {GeoArb} vad SM G
[10:13] {magoo} offer
[10:13] {magoo} OUT .75
[10:13] {Threei} US SENATE MAJORITY LEADER REID: BAILOUT PACKAGE MUST MOVE FORWARD AND 'BLAME GAME' MUST END
[10:13] {Threei} {XLF}
[10:13] {esemde} out BRCM ..02
[10:13] {magoo} i knew it..stop neede to be in 70 area
[10:13] {Onix} ty Vad, i got $52 in WB
[10:13] {Threei} good one ese
[10:13] {GeoArb} wow WB
[10:13] {Threei} onix :)
[10:13] {esemde} +20 ....i'm outta here all see ya tomorow
[10:13] {Threei} take care ese, good job
[10:13] {Threei} vene, vidi, visi
[10:14] {esemde} ya played that one by the books
[10:14] {Threei} or howevere it's spelled
[10:14] {Threei} wow
[10:15] {Threei} that's way beyond what I expwcted from WB
[10:15] {GeoArb} veni vidi vici
[10:15] {Threei} yeah, ty
[10:15] {hawkfan4} out wb .19, beauty vad, and i do mean that ;)
[10:15] {Threei} uh oh
[10:15] {GeoArb} i pulled 250 buccks out of that
[10:15] {Threei} nothing's wrong with that
[10:16] {magoo} oh u did? GOOD JOB, BUT
[10:16] {GeoArb} 2 lots
06[10:16] * magoo slaps GeoArb around a bit with a large trout
[10:16] {GeoArb} why magoo why?
[10:16] {magoo} just because
[10:16] {GeoArb} ok
[10:16] {Threei} Long Setup: C .52 if stays above .40
[10:16] {dino} lol, and gj geo
[10:17] {Threei} (VZ) VENEZUELA PRES CHAVEZ: OIL PRICE COULD SETTLE BETWEEN $80-90/BARREL
[10:17] {dino} out fcx .90, +.40
[10:18] {Onix} in C .52
[10:19] {magoo} wheres u target vad?C
[10:20] {Threei} offering half .63
[10:20] {magoo} ok .6267
[10:20] {Threei} ugh
[10:20] {Threei} stop to .45 meanwhile
[10:21] {Threei} don't want to give anything back
[10:21] {Threei} willing to get shaken out rather than risk profits
[10:22] {magoo} out flat
[10:22] {GeoArb} out about 10 cents
[10:22] {GeoArb} not sure
[10:22] {magoo} red bar QQQ
[10:22] {GeoArb} on i min?
[10:23] {GeoArb} yup see it thanks magoo
[10:23] {Threei} held by fingertips
[10:24] {Onix} i got scared & took my stop @ .47
[10:24] {Threei} .47 is non-indicative... just noize
[10:25] {magoo} yup..had full tho
[10:25] {Threei} half out .64
[10:25] {magoo} and good day going
[10:25] {Threei} scalpers feel free to take full
[10:25] {magoo} but still.................................
06[10:25] * magoo slaps Threei around a bit with a large trout
[10:25] {GeoArb} yeah took it before as wasnt sure
[10:26] {GeoArb} TY vad
[10:26] {GeoArb} its been a good day
[10:26] {Threei} welcome guys
[10:26] {GeoArb} (jinxed)
[10:26] {peterg} locate jinx removal tool on lower right
[10:26] {Threei} rofl
[10:26] {Threei} good one peter
[10:27] {magoo} top left here petergLOL
[10:27] {peterg} different models, different placement
[10:27] {dino} fwlt stop to flat
[10:27] {dino} out
[10:29] {Threei} fast drop WB
[10:30] {dino} amzn sm s .25
[10:31] {Threei} offering C balance .79
[10:32] {dino} stop is hod
[10:32] {Threei} out
[10:32] {GeoArb} vads getting greedier by the day
[10:33] {GeoArb} soo his out will be 5 dollars apart
[10:33] {Threei} greed is my middle name
[10:33] {GeoArb} soon
[10:33] {hawkfan4} you could change your nick to Twog
[10:33] {Onix} I thought it was yeah?
[10:34] {GeoArb} wow C
[10:34] {dino} stopped amzn
[10:36] {dino} ups l .02
[10:41] {dino} amzn s .75 last try
[10:46] {dino} amzn stopped
[10:48] {Threei} Russian exchanges are halted again
[10:49] {Threei} if it goes like this, the most valuable people over there will be ones having enough pull to share information on when exchanges open for 5 minutes
[10:49] {Onix} whow
[10:50] {Onix} not what younow buy who you know
[10:52] {GeoArb} i thought that was everywhere
[10:52] {GeoArb} just variance in degrees
[10:52] {Onix} so true
[10:52] {Threei} "aristocracy by money is replaced by the aristocracy by pull"
[10:52] {Threei} or however you spell that
[10:53] {Threei} Chaeron missed everything again :(
[10:53] {Chaeron} Good morning all
[10:53] {GeoArb} hey chaeron
[10:53] {Chaeron} all except your lesson on aristocracy...
[10:53] {GeoArb} yeah today was saaweeet
[10:54] {Chaeron} so all done then?
[10:54] {GeoArb} vad seems to have dozed off
[10:54] {Chaeron} (natural state for him geo :))
[10:55] {Threei} lol
[10:55] {Threei} permanent too
[10:55] {hawkfan4} Now here's a market guru's prediction i can get my head around: Alan Farley
[10:55] {hawkfan4} The Other Black Swan
[10:55] {hawkfan4} 9/30/2008 10:20 AM EDT
[10:55] {hawkfan4} With the distinct aura of "100-year flood" and "black swan event" oozing through the financial markets, I'm going to extend those analogies and go out on a limb here.
[10:55] {hawkfan4} The Cubs will win their first World Series in 90 years.
[10:55] {hawkfan4} Now back your your regularly-scheduled market crash.
[10:55] {Chaeron} it's a compliment Vad... take it as you are so good, you can trade even THIS market in your sleep
[10:55] {Threei} rofl
[10:56] {Threei} correction chaeron... I can trade ONLY in my sleep
[10:56] {Chaeron} ah :)
[10:56] {dptl} got to go .......have a good rest of the day:)
[10:56] {Threei} take care dp
[10:56] {Chaeron} bye dp... I'll take it from here
[10:57] {dptl} :)....ty ..it's all yours now:)
[10:58] {GeoArb} heh
[10:58] {dino} bidu v sm s 7.35
[10:58] {GeoArb} so now we have to handle vad's trading in shifts?
[10:58] {magoo} sh riumm jhere
[10:59] {magoo} .50
[10:59] {dino} srcl?
[10:59] {Threei} lovely one mags
[11:01] {magoo} out .93 here
[11:01] {magoo} TY vad
[11:02] {magoo} easy button
[11:03] {peterg} tks mags;
[11:03] {magoo} what u get? in .50 out .93 here
[11:04] {magoo} when i call rimm aapl only go 300 shares ok?
[11:04] {magoo} wiggle room
[11:07] {GeoArb} c forming a wedge
[11:08] {GeoArb} interesting'
[11:09] {GeoArb} CME raising futures margins for index products
[11:09] {GeoArb} http://www.cme.com/clearing/rmspan/pbadv/Chadv08251.html
[11:10] {GeoArb} anyone dabbles in these instruments?
[11:11] {hawkfan4} i play the minis, and the guitar
[11:11] {GeoArb} heheh
[11:18] {magoo} sh rimm here 67
[11:20] {magoo} stop .44
[11:21] {Threei} feels like market dump is coming
[11:21] {magoo} wait .58
[11:23] {magoo} 1:1 anyway
[11:26] {dino} gotta hop, cov. bidu .15 +1.20
[11:27] {magoo} out not working
[11:31] {magoo} mkt strong...trtaders getting in front of expected decision on thurs friday to approve bill
[11:31] {magoo} then prob sell the news
[11:32] {magoo} its harder to short than go long today
[11:33] {magoo} chirp in vads
[11:33] {Threei} yup
[11:33] {Threei} C continues
[11:35] {peterg} as doth rimm
[11:35] {Threei} this becomes sad:
[11:35] {Threei} T. BOONE PICKENS: 1 YEAR FROM NOW OIL WILL BE NEAR $150/BARREL - CNBC
[11:35] {GeoArb} my issue is i dont trust oil prices until after the election
[11:36] {Threei} I don't trust opinion of a person who is losing when oil drops
[11:36] {GeoArb} true that
[11:36] {Threei} and issues one bullish call after another, repeatedly proven wrong
[11:37] {Threei} he may be brilliant in zillion ways, but on this issue his judgment is clouded
[11:37] {magoo} hes gonna ruin his rep here
[11:37] {peterg} T. is not a trader but a wildcatter, no?
[11:37] {peterg} different challenges, methinks
[11:38] {patience} he has a fund peter
[11:38] {Threei} in red big this year
[11:39] {peterg} what, a mutual?
[11:39] {patience} he has 46 percent interest in company which runs 2 hedge funds
[11:40] {patience} 1 billion energy related hedge fund
[11:40] {peterg} ah so
[11:40] {peterg} I think he should make barbecue grills and compete with George Foreman
[11:43] {Threei} something's driving MS
[11:43] {Threei} watching for pullback
[11:45] {Threei} {MS} what's pullback?
[11:51] {GeoArb} pullback vad?
[11:51] {Threei} too small for confident entry
[11:52] {Threei} thing about pullbacks on finnies these days is,
[11:53] {Threei} thanks to absense of short covering they are deeper and more violent than usual
[11:53] {GeoArb} ok
[11:53] {Threei} so I want much more pronounced pullback for entry
[11:53] {Threei} otherwise it's just too risky, can get caught in severe selloff easy
[11:54] {GeoArb} ES at overnight highs almost
[11:55] {Threei} C just won't quit
[12:07] {Threei} quite interesting take on rescue plans:
[12:07] {Threei} http://www.hussmanfunds.com/wmc/wmc080929.htm
[12:16] {Threei} WB
[12:16] {Threei} BALANCE SHEET AMPLY SUPPORTS WACHOVIA'S OPERATING SUBSIDIARIES
[12:20] {magoo} up or down mkt here vad
[12:21] {Threei} too early
[12:21] {Threei} just uncertain at this point
[12:24] {Threei} Long Setup: WB 3.01
[12:24] {Threei} .89 stop
[12:33] {GeoArb} so for something like this vad... you go multiple lots right?
[12:37] {Threei} yes, within my risk tolerance
[12:37] {GeoArb} of course... type one scalp
[12:37] {Threei} right
[12:37] {GeoArb} (i revised)
[12:42] {Threei} half out .06
[12:42] {Threei} too unclear, want to cut risk down
[12:44] {Threei} stop to .99
[12:46] {Threei} offering balance .15
[12:47] {Threei} out
[12:48] {Threei} anyone took this one?
[12:48] {Threei} or I might just as well go sleep?
[12:48] {GeoArb} me
[12:48] {GeoArb} 10 cents
[12:48] {GeoArb} TY
[12:48] {Threei} :)
[12:48] {hawkfan4} nice vad, me too, thx
[12:48] {GeoArb} was in late and out early
[12:49] {GeoArb} but 2 lots made things nice :)
[12:57] {Threei} CITIGROUP COMMENTS ON WB, NOTES THAT IT IS COMMITED TO CONDUCTING THE TRANSACTION, CONTINUES TO OPERATE NORMALLY
[12:57] {Threei} {C}
[12:59] {GeoArb} 20.f5 quadruple top C hehe
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
[13:00] {Threei} sigh
[13:00] {GeoArb} hey dave
[13:00] {magoo} sigh
[13:00] {laserdave1} hey guys
[13:00] {magoo} DCC dave
[13:00] {laserdave1} o sorry mags
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
[13:00] {magoo} there u go:)
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
[13:01] {GeoArb} mymy he shows up with trouts twirling
[13:08] {laserdave1} i have taken so much abuse from these guys Geo
[13:08] {laserdave1} they punish me
[13:08] {GeoArb} yeah i have seen that
[13:08] {laserdave1} so a lil pay back once in awhile is nice
[13:08] {GeoArb} its all love
[13:08] {laserdave1} feels real good
[13:08] {laserdave1} lol
[13:08] {GeoArb} lol
[13:08] {Threei} yeah dave... but the real question is, was any of that abuse undeserved
[13:08] {laserdave1} no sir
[13:09] {Threei} there you go :)
[13:09] {GeoArb} we should run a study on how agressively lasertave flashed the trout
[13:09] {GeoArb} vs how much he killed in the ,arket
[13:09] {GeoArb} i suspect there is a correlation
[13:09] {laserdave1} i loves the abuse......why u think i am always such a bad boy?
[13:09] {Threei} WB heated battle here
[13:10] {Threei} not sure I want to participate
[13:10] {Threei} no single stop in two days, and what days
[13:10] {Threei} don't want uncertain fights
[13:12] {Threei} if you feel like trying, it seems likely to revisit .25 high
[13:12] {Threei} and mostl likely break higher
[13:13] {GeoArb} is that a flashing green call vad?
[13:14] {Threei} it's just what I said... my feeling for it is above, and I personally am not taking this trade
[13:14] {GeoArb} :)
[13:14] {Threei} too laborous for me after many much easier trades
[13:14] {Threei} consider it me exercising my crystal ball
[13:17] {Threei} CITIGROUP HAS REPORTEDLY INITIATED A HALT IN EMPLOYMENT OF BROKERS AT WACHOVIA- UNCONFIRMED REPORT
[13:18] {Threei} .25
[13:19] {GeoArb} hmmm this was an easy button
[13:19] {Threei} and higher
[13:19] {Threei} crystal ball is fine
[13:19] {GeoArb} anyone partake?
[13:21] {Threei} CONGRESSIONAL AIDE: RECEIVING A LOT OF CALLS IN FAVOR OF BAILOUT BILL FROM CONSTITUENTS
[13:21] {Threei} yeah? wasn't it like 99% calls against it?
[13:21] {GeoArb} he didnt talkk about the "lotter" calls against
[13:22] {GeoArb} new grammer..... little lots lotter
[13:22] {GeoArb} (ok i need lunch)
[13:22] {Threei} lol
[13:23] {GeoArb} ya know what i love about all this.?
[13:23] {GeoArb} my POS mortgage broker is out of a job
[13:24] {GeoArb} last I heard... he was selling theatre tickets
[13:24] {magoo} what bank is POS?
[13:24] {GeoArb} heheheh
[13:24] {GeoArb} piece of %^#^%
[13:25] {GeoArb} term of endearment
[13:25] {magoo} gotcha
[13:25] {GeoArb} i remember he got so pissed of at me when i insisted on reading the docs i was signing
[13:25] {Threei} heh
[13:26] {GeoArb} "trust me"
[13:26] {Threei} can you blame him? all those 15 minutes you took from him while reading is 3 new suckers he could get to sign
[13:26] {GeoArb} i took 2 hrs
[13:26] {GeoArb} ES broke high
[13:27] {GeoArb} oil broke 100
[13:27] {Threei} there you go
[13:27] {Threei} you just stole a lot of his business by tying him up for that long
[13:27] {GeoArb} the stealing was all him trust me
[13:28] {GeoArb} its funny that now credit is getting tighter banks aer phasing out independent mortgage brokers
[13:28] {Threei} crisis was approaching... he had to get as many bodies as possible while they were warm
[13:28] {GeoArb} not enouight pieces of pies left
[13:28] {Threei} and here you are, reading fine print
[13:28] {GeoArb} lol
[13:29] {GeoArb} es and oil both at daily highs
[13:29] {GeoArb} wrd
[13:30] {Threei} not really
[13:30] {Threei} new paradigm
[13:30] {GeoArb} pray tell
[13:31] {Threei} oil is not a major worry anymore, it doesn't rule the market direction,
[13:31] {Threei} instead, oil is moving up when there are signs of economy doing better
[13:31] {Threei} and drops when things look bleak, on demand destruction worries
[13:32] {Threei} this dynamic will work for a while
[13:32] {GeoArb} makes sense vad
[13:32] {Threei} then, I suspect, oil is oing to get hit but completely other things
[13:32] {Threei} ...going to get hit by...
[13:33] {Threei} namely, by the structure of its futures trading
[13:33] {Threei} which in a sense is a bubble on its own
[13:33] {GeoArb} well now Es is 6% margin
[13:33] {GeoArb} we get 10%
[13:34] {GeoArb} not much sense going to futures
[13:34] {GeoArb} 5-10 depending
[13:34] {Threei} where huge derivatives structure is overhanging relatively small underlying market
[13:34] {Threei} and when this thing unravels...
[13:35] {peterg} Any info on redemptions from hedge funds today?
[13:38] {GeoArb} decent up day today
[13:38] {GeoArb} i had thought sideways
[13:44] {Threei} C .76 worth a try
[13:44] {Threei} if stays above .65
06[13:56] * Threei kicks C in the rear with steel-toed heavy duty army boots
[13:57] {Threei} ummm... did I mix the sides?
[13:57] {Threei} was that the front?
06[13:59] * Threei is turning C around and repeating kick
[14:00] {GeoArb} comeon vad
[14:00] {GeoArb} i bank there
[14:00] {GeoArb} now ill be thinking about that when i go to atm
[14:00] {GeoArb} tch tch
[14:00] {Threei} lol
[14:00] {GeoArb} enh i am out
[14:01] {Threei} OK, this seems to be the right side
[14:01] {GeoArb} will trade in non lunch time
[14:01] {GeoArb} 3 cents
[14:02] {GeoArb} es looking ready to fall IMO
[14:03] {dino} .
[14:03] {GeoArb} vad made me too much money so am in profit protection mode
[14:04] {dino} gj
[14:04] {Threei} good idea
[14:16] {Threei} half out C .89
[14:17] {GeoArb} just like vad
[14:17] {GeoArb} squeezed blood from a stone
[14:17] {Threei} lol
[14:17] {GeoArb} you in IRS vad? :)
[14:18] {Threei} part time only
[14:20] {GeoArb} i will accept my trouts right about now
[14:20] {Threei} HOUSE SPEAKER PELOSI AND SENATE MAJORITY LEADER REID STATE THEY ARE CONFIDENT CONGRESS WILL PASS A RESPONSIBLE BAILOUT BILL
[14:20] {dino} rcrc sm l .75
[14:24] {Threei} got that half back at .74
[14:24] {Threei} offering it .85
[14:24] {Threei} out
[14:24] {Threei} lol
[14:25] {Threei} WB??
[14:26] {dino} srcl sm l .71
[14:26] {Threei} that was funny on C
[14:26] {GeoArb} yup
[14:27] {GeoArb} squeezing stone truely
[14:28] {Threei} if the stone is sqeezable...
[14:28] {Threei} remember G. gekko's answer to "why do you qwant to wreck this company?"
[14:28] {Threei} "because it's wreckable, alright??"
[14:29] {Threei} offering second half at 20.01
[14:29] {Threei} 21.01
[14:31] {GeoArb} i guess this was a patience grasshopper lesson
[14:32] {Threei} I can pretend that too... but the truth is, it was deep sleep
[14:33] {Threei} out .98
[14:33] {Threei} whatever... why do I fight for 3 cents
[14:40] {dino} out srcl +.20
[14:44] {dino} zion drop
[14:51] {dino} sm dxd l .10
[15:12] {Threei} sharp down WB
[15:23] {dino} dxd stopped -.37
[15:35] {Threei} US TREASURY SEC PAULSON: CREDIT MARKET PROBLEM CONTINUE, STRONG ACTION NEEDED - CONF CALL WITH AMERICAN BANKER'S ASSOCIATION
[15:36] {dino} amzn sm s .97
[15:40] {dino} stopped. calling it a day. i can't trade these big up days for sh#t
[15:41] {Threei} sorry dino
[15:41] {Threei} it's my kind of market
[15:41] {Threei} can do no wrong
[15:41] {dino} not your fault. had to leave for a couple hours, and just generally sucked
[15:42] {dino} when i check my records, the big open and continue days are some of my worst
[15:42] {dino} i am simply an idiot
[15:42] {Threei} usually not my favorites either
[15:42] {Threei} but this one worked fine
[15:42] {dino} gj
[15:43] {GeoArb} yeah good day
[15:43] {GeoArb} didnt get greedy took what vad gave me hehehh
[15:44] {GeoArb} except for the C
[15:45] {dino} gj geo
[15:45] {dino} my mind is wired for dis-belief
[15:47] {GeoArb} i hear you
[15:47] {GeoArb} every time i take what he plays..... i get paranoid about what ifs
[15:47] {GeoArb} what if he retires
[15:47] {GeoArb} etc etc
[15:48] {Threei} ummm
[15:48] {Threei} right in the middle of the play?
[15:48] {GeoArb} no at the end
[15:48] {GeoArb} lol
[15:48] {Threei} leaving you with no instructions on exit?
[15:48] {Threei} must be scary thought
[15:48] {GeoArb} not really
[15:48] {GeoArb} its the cumulative effect aht will hurt
[15:48] {Threei} OK, let me assure you,
[15:48] {GeoArb} not play by play
[15:49] {Threei} if I do, I'll make sure I leave the detailed description for each unfinished trade {G}
[15:49] {GeoArb} if I knew the genesis API as well as some i know
[15:49] {GeoArb} i would conspire with laserdave and hooks your entries and exits with mine
[15:49] {GeoArb} lol
[15:50] {GeoArb} now thats real authotrading
[15:50] {dino} rumors of suspending mark to market
[15:50] {GeoArb} really?
[15:50] {patience} doug kass on realmoney said it at 2:34 pm
[15:51] {GeoArb} so mark to fantasy?
[15:51] {dino} kass-man on real$
[15:51] {dino} its' a tough thing. if i had to mark to market my real estate, hmmmm
[15:52] {dino} as there is not much market
[15:52] {GeoArb} how much is real money sub patience?
[15:53] {patience} haven't a clue, it just goes through credit card
[15:53] {Threei} which is not real money {G}
[15:53] {dino} same here
[15:53] {GeoArb} you have it too dino?
[15:53] {dino} i think 79$
[15:54] {dino} y
[15:54] {dino} for years
[15:54] {patience} vad, was today a light volume day because of jewish holiday?
[15:54] {Threei} I guess
[15:55] {Threei} usually is
[15:55] {GeoArb} ok thanks
[15:55] {GeoArb} ok is 99 now
[15:56] {Threei} a month??
[15:56] {GeoArb} year
[15:56] {Threei} whew
[15:56] {Threei} lol
[15:56] {GeoArb} if it ws a month i fdont think they would let their cards be charged without noticing.
[15:57] {dino} acwx
[15:58] {Threei} Ok guys, thank you all
[15:58] {GeoArb} thanks
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {dino} out rcrc .95 +.20
[07:59] {magoo} morning
[08:05] {Threei} Good morning
[08:05] {magoo} vad:)
[08:10] {Threei} T. BOONE PICKENS: BELIEVES A BAILOUT DEAL WILL HAPPEN ON THURSDAY, THE DROP IN THE DJIA HAS BEEN SOBERING
[08:10] {Threei} - We will face another crisis in energy soon, we already pay about $700B a year for foreign oil.
[08:11] {Threei} guy becomes plain annoying
[08:30] {magoo} what u stalking vad?
[08:31] {Threei} just looking around so far
[08:31] {Threei} too unclear what happens next
[08:31] {Threei} C...
[08:31] {Threei} VLNC...
[08:33] {Onix} Good morning all
[08:33] {Threei} Onix :)
[08:40] {Threei} Raven... checked on a sky this morning?
[08:40] {dino} gm all
[08:40] {Threei} falling? holding?
[08:40] {Threei} dino :)
[08:41] {Raven} some light fog
[08:41] {Threei} light?
[08:41] {Threei} wow
[08:41] {Raven} {-----------. checking radar
[08:42] {Raven} clouds to the west ... rain may occur today
[08:42] {Threei} OK... as long as sky is still up there
[08:42] {Raven} bring the umbrella
[08:45] {Threei} Bush on TV
[08:47] {Raven} that'll be a big help
[08:48] {Threei} PRESIDENT BUSH: THIS IS NOT THE END OF THE LEGISLATIVE PROCESS, WHAT MATTERS IS THAT WE GET A LAW AT THIS CRITICAL MOMENT
[08:48] {Threei} - The reality is that we are in an urgent situation, with consequences worsening day by day. If US continues on this course, the economic damage will be painful and lasting.
[08:48] {Threei} - There's no question the $700B amount is a large amount of money. But the economy depends on decisive action from Congress.
[08:53] {peterg} Morning all
[08:54] {Threei} peter :)
[09:09] {dino} hmmmmmmmmm
[09:09] {dino} probabilities
[09:09] {Threei} what about them?
[09:10] {GeoArb} gm
[09:10] {Threei} Geo :)
[09:11] {magoo} R
[09:11] {magoo} A
[09:11] {magoo} V
[09:11] {magoo} E
[09:11] {magoo} N
[09:11] {magoo} an oldie but gooodie
[09:11] {dino} thinking out loud.
[09:11] {dino} gap open up?
[09:12] {cosmo} backs possibly
[09:12] {cosmo} banks
[09:13] {cosmo} not probable tho
[09:13] {dino} ddm?
[09:14] {dino} qld?
[09:14] {dino} sso?
[09:14] {Raven} M aaaa GGGGGGGGGG ooooo OOOOOOOOOOOOOOOOOOOOOO !
[09:15] {dino} sm l ddm .67, will let it move around a bit
[09:18] {fernp} Good morning all
[09:18] {cosmo} lets hope
[09:18] {Threei} fern :)
[09:20] {dptl} good morning all
[09:20] {Threei} dp :)
[09:25] {Threei} I don't have clear play for opening
[09:25] {Threei} looking
[09:28] {cosmo} ASML: Significant Progress in EUV Lithography Program; Reveal
[09:28] {cosmo} Roadmap that Extends Semiconductor Manufacturing to 11 Nanometers and Beyond
[09:29] {magoo} pop...drop..pop...drop....
[09:29] {magoo} there vad
[09:29] {Threei} sop, long POP and short DROP?
[09:29] {esemde} good morning
[09:29] {esemde} you sure called yesterday right Vad
[09:30] {Threei} ese :)
[09:30] {Threei} ty
[09:31] {Threei} watching C
[09:32] {magoo} watching rimm
[09:32] {Threei} broke out too fast
[09:32] {Threei} .20 break was the idea but wanted some more consolidation before the break
[09:33] {peterg} rimm bouncing ball
[09:33] {Threei} pullback should be buyable
[09:33] {Threei} .20 break again
[09:34] {Threei} stop under .10
[09:35] {Threei} stop to .14
[09:36] {GeoArb} hmm in .21 half out .32
[09:36] {Threei} hesitates too long for my taste
[09:36] {GeoArb} .34
[09:36] {Threei} not bad Geo, that's playing safe
[09:36] {GeoArb} was 1:1
[09:36] {Threei} yup
[09:36] {Threei} .15 held on this pullback, so stop is trailed right
[09:37] {Threei} stop to .19 now
[09:37] {Threei} half out .39
[09:37] {Threei} risk is minimal here
[09:37] {Threei} out
[09:37] {Threei} .17
[09:38] {dino} c l .15
[09:38] {Onix} ty Vad, i got 15c in C
[09:38] {dino} stop .96
[09:38] {Threei} :)
[09:38] {Threei} good entry dino
[09:39] {dino} lucky
[09:39] {Threei} if you say so
[09:39] {Threei} ugh WB
[09:41] {magoo} ouyt .41 TY vad C
[09:41] {Threei} welcome
[09:42] {GeoArb} sheesh maggo
[09:42] {GeoArb} you left the scalper ranks
[09:43] {dino} c stop to .49
[09:43] {Threei} magoo hateth stinkin' scalpers
[09:43] {dino} out +.34 ty vad
[09:43] {Threei} :)
[09:43] {magoo} :)
[09:45] {GeoArb} consumer conf at 10?
[09:45] {Threei} SEPT CHICAGO PURCHASING MANAGER'S INDEX: 56.7 V 53.0E
[09:45] {hawkfan4} yes geo
[09:46] {GeoArb} so magoo ... did you partial or all in all out?
[09:46] {magoo} all out
[09:46] {magoo} always
[09:46] {GeoArb} nice
[09:46] {magoo} i look to reload pullbks if stiull like it
[09:46] {GeoArb} i was carefull after being a coqboy yesterday
[09:47] {GeoArb} ooooh
[09:47] {GeoArb} cowboy
[09:47] {magoo} gotta remember too...magoo in other plays so can't be waiting around
[09:47] {GeoArb} heheh true
[09:48] {magoo} i flipped bidu and rimm at same time as that
[09:48] {magoo} to fast to post unfortunately
[09:48] {GeoArb} yup
[09:48] {GeoArb} nice drop c
[09:48] {magoo} goota just "feel"them]
[09:49] {dino} ddm stopped -.52 thats messed up
[09:50] {Threei} PREVIEW: SEPT CONSUMER CONFIDENCE DUE OUT AT 10AMET
[09:50] {Threei} - consensus expectation: 55.0e v 56.9 prior
[09:50] {magoo} OY
[09:50] {magoo} cant be good number
[09:50] {Threei} so, expectation is that confidence is just half inch above baseboard
[09:52] {GeoArb} no correlation between oil and market now
[09:53] {GeoArb} CL tanking
[09:53] {Threei} no, other worries took over
[09:53] {Threei} oil retreated far enough to stop being major factor
[09:53] {GeoArb} true
[09:53] {Threei} and financial worries are overpowering
[09:56] {peterg} rbr dirty harry's question: Well, punk, do you feel lucky???
[09:57] {dino} lol
[09:58] {cosmo} CNXT hod = 3.94
[09:58] {cosmo} fwiw
[09:59] {GeoArb} what I find interesting is that despite bailout failure financials didnt make new lows
[10:00] {Threei} SEPT CONSUMER CONFIDENCE: 59.8V 55.0E
[10:00] {Threei} - prior revised from 56.9 to
[10:00] {Threei} - no revision to prior 56.9
[10:00] {magoo} sheesh
[10:00] {GeoArb} confidence increased?
[10:00] {Threei} hehe
[10:01] {esemde} l BRCM .82
[10:02] {Threei} Long Setup: WB 2.78
[10:02] {esemde} stop .69 full lot
[10:03] {Threei} this pullback will show the stop level
[10:03] {Threei} under .60 invalidated as breakout
[10:03] {esemde} bouncing around like a rabit
[10:06] {Threei} C is running again
[10:06] {magoo} l rimm .3
[10:06] {magoo} here
[10:07] {Threei} my stop .65 on WB for now
[10:08] {magoo} rimm stop 63.88
[10:08] {magoo} in small
[10:08] {esemde} stop to .80
[10:08] {dino} fcx sm l .50
[10:09] {Threei} MP SECURITIES RAISED RIMM TO MARKET OUTPERFORM FROM MARKET PERFORM
[10:09] {Threei} - pre-open
[10:10] {magoo} stopped
[10:10] {magoo} figures
[10:10] {Threei} WB half out .93
[10:10] {Threei} stop to .79
[10:11] {Threei} offering balance 3.05
[10:11] {magoo} out here vad .93 TY
[10:11] {magoo} FL
[10:11] {Threei} :)
[10:12] {magoo} l rimm AGAIN .33
[10:12] {dino} fwlt sm l .25
[10:12] {Threei} out
[10:12] {GeoArb} out
[10:12] {Threei} nice and easy
[10:12] {Threei} stop never jeopradized
[10:12] {GeoArb} sheer magnificence vad
[10:12] {Threei} that's my middle name, yeah
[10:12] {GeoArb} vad SM G
[10:13] {magoo} offer
[10:13] {magoo} OUT .75
[10:13] {Threei} US SENATE MAJORITY LEADER REID: BAILOUT PACKAGE MUST MOVE FORWARD AND 'BLAME GAME' MUST END
[10:13] {Threei} {XLF}
[10:13] {esemde} out BRCM ..02
[10:13] {magoo} i knew it..stop neede to be in 70 area
[10:13] {Onix} ty Vad, i got $52 in WB
[10:13] {Threei} good one ese
[10:13] {GeoArb} wow WB
[10:13] {Threei} onix :)
[10:13] {esemde} +20 ....i'm outta here all see ya tomorow
[10:13] {Threei} take care ese, good job
[10:13] {Threei} vene, vidi, visi
[10:14] {esemde} ya played that one by the books
[10:14] {Threei} or howevere it's spelled
[10:14] {Threei} wow
[10:15] {Threei} that's way beyond what I expwcted from WB
[10:15] {GeoArb} veni vidi vici
[10:15] {Threei} yeah, ty
[10:15] {hawkfan4} out wb .19, beauty vad, and i do mean that ;)
[10:15] {Threei} uh oh
[10:15] {GeoArb} i pulled 250 buccks out of that
[10:15] {Threei} nothing's wrong with that
[10:16] {magoo} oh u did? GOOD JOB, BUT
[10:16] {GeoArb} 2 lots
06[10:16] * magoo slaps GeoArb around a bit with a large trout
[10:16] {GeoArb} why magoo why?
[10:16] {magoo} just because
[10:16] {GeoArb} ok
[10:16] {Threei} Long Setup: C .52 if stays above .40
[10:16] {dino} lol, and gj geo
[10:17] {Threei} (VZ) VENEZUELA PRES CHAVEZ: OIL PRICE COULD SETTLE BETWEEN $80-90/BARREL
[10:17] {dino} out fcx .90, +.40
[10:18] {Onix} in C .52
[10:19] {magoo} wheres u target vad?C
[10:20] {Threei} offering half .63
[10:20] {magoo} ok .6267
[10:20] {Threei} ugh
[10:20] {Threei} stop to .45 meanwhile
[10:21] {Threei} don't want to give anything back
[10:21] {Threei} willing to get shaken out rather than risk profits
[10:22] {magoo} out flat
[10:22] {GeoArb} out about 10 cents
[10:22] {GeoArb} not sure
[10:22] {magoo} red bar QQQ
[10:22] {GeoArb} on i min?
[10:23] {GeoArb} yup see it thanks magoo
[10:23] {Threei} held by fingertips
[10:24] {Onix} i got scared & took my stop @ .47
[10:24] {Threei} .47 is non-indicative... just noize
[10:25] {magoo} yup..had full tho
[10:25] {Threei} half out .64
[10:25] {magoo} and good day going
[10:25] {Threei} scalpers feel free to take full
[10:25] {magoo} but still.................................
06[10:25] * magoo slaps Threei around a bit with a large trout
[10:25] {GeoArb} yeah took it before as wasnt sure
[10:26] {GeoArb} TY vad
[10:26] {GeoArb} its been a good day
[10:26] {Threei} welcome guys
[10:26] {GeoArb} (jinxed)
[10:26] {peterg} locate jinx removal tool on lower right
[10:26] {Threei} rofl
[10:26] {Threei} good one peter
[10:27] {magoo} top left here petergLOL
[10:27] {peterg} different models, different placement
[10:27] {dino} fwlt stop to flat
[10:27] {dino} out
[10:29] {Threei} fast drop WB
[10:30] {dino} amzn sm s .25
[10:31] {Threei} offering C balance .79
[10:32] {dino} stop is hod
[10:32] {Threei} out
[10:32] {GeoArb} vads getting greedier by the day
[10:33] {GeoArb} soo his out will be 5 dollars apart
[10:33] {Threei} greed is my middle name
[10:33] {GeoArb} soon
[10:33] {hawkfan4} you could change your nick to Twog
[10:33] {Onix} I thought it was yeah?
[10:34] {GeoArb} wow C
[10:34] {dino} stopped amzn
[10:36] {dino} ups l .02
[10:41] {dino} amzn s .75 last try
[10:46] {dino} amzn stopped
[10:48] {Threei} Russian exchanges are halted again
[10:49] {Threei} if it goes like this, the most valuable people over there will be ones having enough pull to share information on when exchanges open for 5 minutes
[10:49] {Onix} whow
[10:50] {Onix} not what younow buy who you know
[10:52] {GeoArb} i thought that was everywhere
[10:52] {GeoArb} just variance in degrees
[10:52] {Onix} so true
[10:52] {Threei} "aristocracy by money is replaced by the aristocracy by pull"
[10:52] {Threei} or however you spell that
[10:53] {Threei} Chaeron missed everything again :(
[10:53] {Chaeron} Good morning all
[10:53] {GeoArb} hey chaeron
[10:53] {Chaeron} all except your lesson on aristocracy...
[10:53] {GeoArb} yeah today was saaweeet
[10:54] {Chaeron} so all done then?
[10:54] {GeoArb} vad seems to have dozed off
[10:54] {Chaeron} (natural state for him geo :))
[10:55] {Threei} lol
[10:55] {Threei} permanent too
[10:55] {hawkfan4} Now here's a market guru's prediction i can get my head around: Alan Farley
[10:55] {hawkfan4} The Other Black Swan
[10:55] {hawkfan4} 9/30/2008 10:20 AM EDT
[10:55] {hawkfan4} With the distinct aura of "100-year flood" and "black swan event" oozing through the financial markets, I'm going to extend those analogies and go out on a limb here.
[10:55] {hawkfan4} The Cubs will win their first World Series in 90 years.
[10:55] {hawkfan4} Now back your your regularly-scheduled market crash.
[10:55] {Chaeron} it's a compliment Vad... take it as you are so good, you can trade even THIS market in your sleep
[10:55] {Threei} rofl
[10:56] {Threei} correction chaeron... I can trade ONLY in my sleep
[10:56] {Chaeron} ah :)
[10:56] {dptl} got to go .......have a good rest of the day:)
[10:56] {Threei} take care dp
[10:56] {Chaeron} bye dp... I'll take it from here
[10:57] {dptl} :)....ty ..it's all yours now:)
[10:58] {GeoArb} heh
[10:58] {dino} bidu v sm s 7.35
[10:58] {GeoArb} so now we have to handle vad's trading in shifts?
[10:58] {magoo} sh riumm jhere
[10:59] {magoo} .50
[10:59] {dino} srcl?
[10:59] {Threei} lovely one mags
[11:01] {magoo} out .93 here
[11:01] {magoo} TY vad
[11:02] {magoo} easy button
[11:03] {peterg} tks mags;
[11:03] {magoo} what u get? in .50 out .93 here
[11:04] {magoo} when i call rimm aapl only go 300 shares ok?
[11:04] {magoo} wiggle room
[11:07] {GeoArb} c forming a wedge
[11:08] {GeoArb} interesting'
[11:09] {GeoArb} CME raising futures margins for index products
[11:09] {GeoArb} http://www.cme.com/clearing/rmspan/pbadv/Chadv08251.html
[11:10] {GeoArb} anyone dabbles in these instruments?
[11:11] {hawkfan4} i play the minis, and the guitar
[11:11] {GeoArb} heheh
[11:18] {magoo} sh rimm here 67
[11:20] {magoo} stop .44
[11:21] {Threei} feels like market dump is coming
[11:21] {magoo} wait .58
[11:23] {magoo} 1:1 anyway
[11:26] {dino} gotta hop, cov. bidu .15 +1.20
[11:27] {magoo} out not working
[11:31] {magoo} mkt strong...trtaders getting in front of expected decision on thurs friday to approve bill
[11:31] {magoo} then prob sell the news
[11:32] {magoo} its harder to short than go long today
[11:33] {magoo} chirp in vads
[11:33] {Threei} yup
[11:33] {Threei} C continues
[11:35] {peterg} as doth rimm
[11:35] {Threei} this becomes sad:
[11:35] {Threei} T. BOONE PICKENS: 1 YEAR FROM NOW OIL WILL BE NEAR $150/BARREL - CNBC
[11:35] {GeoArb} my issue is i dont trust oil prices until after the election
[11:36] {Threei} I don't trust opinion of a person who is losing when oil drops
[11:36] {GeoArb} true that
[11:36] {Threei} and issues one bullish call after another, repeatedly proven wrong
[11:37] {Threei} he may be brilliant in zillion ways, but on this issue his judgment is clouded
[11:37] {magoo} hes gonna ruin his rep here
[11:37] {peterg} T. is not a trader but a wildcatter, no?
[11:37] {peterg} different challenges, methinks
[11:38] {patience} he has a fund peter
[11:38] {Threei} in red big this year
[11:39] {peterg} what, a mutual?
[11:39] {patience} he has 46 percent interest in company which runs 2 hedge funds
[11:40] {patience} 1 billion energy related hedge fund
[11:40] {peterg} ah so
[11:40] {peterg} I think he should make barbecue grills and compete with George Foreman
[11:43] {Threei} something's driving MS
[11:43] {Threei} watching for pullback
[11:45] {Threei} {MS} what's pullback?
[11:51] {GeoArb} pullback vad?
[11:51] {Threei} too small for confident entry
[11:52] {Threei} thing about pullbacks on finnies these days is,
[11:53] {Threei} thanks to absense of short covering they are deeper and more violent than usual
[11:53] {GeoArb} ok
[11:53] {Threei} so I want much more pronounced pullback for entry
[11:53] {Threei} otherwise it's just too risky, can get caught in severe selloff easy
[11:54] {GeoArb} ES at overnight highs almost
[11:55] {Threei} C just won't quit
[12:07] {Threei} quite interesting take on rescue plans:
[12:07] {Threei} http://www.hussmanfunds.com/wmc/wmc080929.htm
[12:16] {Threei} WB
[12:16] {Threei} BALANCE SHEET AMPLY SUPPORTS WACHOVIA'S OPERATING SUBSIDIARIES
[12:20] {magoo} up or down mkt here vad
[12:21] {Threei} too early
[12:21] {Threei} just uncertain at this point
[12:24] {Threei} Long Setup: WB 3.01
[12:24] {Threei} .89 stop
[12:33] {GeoArb} so for something like this vad... you go multiple lots right?
[12:37] {Threei} yes, within my risk tolerance
[12:37] {GeoArb} of course... type one scalp
[12:37] {Threei} right
[12:37] {GeoArb} (i revised)
[12:42] {Threei} half out .06
[12:42] {Threei} too unclear, want to cut risk down
[12:44] {Threei} stop to .99
[12:46] {Threei} offering balance .15
[12:47] {Threei} out
[12:48] {Threei} anyone took this one?
[12:48] {Threei} or I might just as well go sleep?
[12:48] {GeoArb} me
[12:48] {GeoArb} 10 cents
[12:48] {GeoArb} TY
[12:48] {Threei} :)
[12:48] {hawkfan4} nice vad, me too, thx
[12:48] {GeoArb} was in late and out early
[12:49] {GeoArb} but 2 lots made things nice :)
[12:57] {Threei} CITIGROUP COMMENTS ON WB, NOTES THAT IT IS COMMITED TO CONDUCTING THE TRANSACTION, CONTINUES TO OPERATE NORMALLY
[12:57] {Threei} {C}
[12:59] {GeoArb} 20.f5 quadruple top C hehe
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
[13:00] {Threei} sigh
[13:00] {GeoArb} hey dave
[13:00] {magoo} sigh
[13:00] {laserdave1} hey guys
[13:00] {magoo} DCC dave
[13:00] {laserdave1} o sorry mags
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
[13:00] {magoo} there u go:)
06[13:00] * laserdave1 slaps Threei around a bit with a large trout
[13:01] {GeoArb} mymy he shows up with trouts twirling
[13:08] {laserdave1} i have taken so much abuse from these guys Geo
[13:08] {laserdave1} they punish me
[13:08] {GeoArb} yeah i have seen that
[13:08] {laserdave1} so a lil pay back once in awhile is nice
[13:08] {GeoArb} its all love
[13:08] {laserdave1} feels real good
[13:08] {laserdave1} lol
[13:08] {GeoArb} lol
[13:08] {Threei} yeah dave... but the real question is, was any of that abuse undeserved
[13:08] {laserdave1} no sir
[13:09] {Threei} there you go :)
[13:09] {GeoArb} we should run a study on how agressively lasertave flashed the trout
[13:09] {GeoArb} vs how much he killed in the ,arket
[13:09] {GeoArb} i suspect there is a correlation
[13:09] {laserdave1} i loves the abuse......why u think i am always such a bad boy?
[13:09] {Threei} WB heated battle here
[13:10] {Threei} not sure I want to participate
[13:10] {Threei} no single stop in two days, and what days
[13:10] {Threei} don't want uncertain fights
[13:12] {Threei} if you feel like trying, it seems likely to revisit .25 high
[13:12] {Threei} and mostl likely break higher
[13:13] {GeoArb} is that a flashing green call vad?
[13:14] {Threei} it's just what I said... my feeling for it is above, and I personally am not taking this trade
[13:14] {GeoArb} :)
[13:14] {Threei} too laborous for me after many much easier trades
[13:14] {Threei} consider it me exercising my crystal ball
[13:17] {Threei} CITIGROUP HAS REPORTEDLY INITIATED A HALT IN EMPLOYMENT OF BROKERS AT WACHOVIA- UNCONFIRMED REPORT
[13:18] {Threei} .25
[13:19] {GeoArb} hmmm this was an easy button
[13:19] {Threei} and higher
[13:19] {Threei} crystal ball is fine
[13:19] {GeoArb} anyone partake?
[13:21] {Threei} CONGRESSIONAL AIDE: RECEIVING A LOT OF CALLS IN FAVOR OF BAILOUT BILL FROM CONSTITUENTS
[13:21] {Threei} yeah? wasn't it like 99% calls against it?
[13:21] {GeoArb} he didnt talkk about the "lotter" calls against
[13:22] {GeoArb} new grammer..... little lots lotter
[13:22] {GeoArb} (ok i need lunch)
[13:22] {Threei} lol
[13:23] {GeoArb} ya know what i love about all this.?
[13:23] {GeoArb} my POS mortgage broker is out of a job
[13:24] {GeoArb} last I heard... he was selling theatre tickets
[13:24] {magoo} what bank is POS?
[13:24] {GeoArb} heheheh
[13:24] {GeoArb} piece of %^#^%
[13:25] {GeoArb} term of endearment
[13:25] {magoo} gotcha
[13:25] {GeoArb} i remember he got so pissed of at me when i insisted on reading the docs i was signing
[13:25] {Threei} heh
[13:26] {GeoArb} "trust me"
[13:26] {Threei} can you blame him? all those 15 minutes you took from him while reading is 3 new suckers he could get to sign
[13:26] {GeoArb} i took 2 hrs
[13:26] {GeoArb} ES broke high
[13:27] {GeoArb} oil broke 100
[13:27] {Threei} there you go
[13:27] {Threei} you just stole a lot of his business by tying him up for that long
[13:27] {GeoArb} the stealing was all him trust me
[13:28] {GeoArb} its funny that now credit is getting tighter banks aer phasing out independent mortgage brokers
[13:28] {Threei} crisis was approaching... he had to get as many bodies as possible while they were warm
[13:28] {GeoArb} not enouight pieces of pies left
[13:28] {Threei} and here you are, reading fine print
[13:28] {GeoArb} lol
[13:29] {GeoArb} es and oil both at daily highs
[13:29] {GeoArb} wrd
[13:30] {Threei} not really
[13:30] {Threei} new paradigm
[13:30] {GeoArb} pray tell
[13:31] {Threei} oil is not a major worry anymore, it doesn't rule the market direction,
[13:31] {Threei} instead, oil is moving up when there are signs of economy doing better
[13:31] {Threei} and drops when things look bleak, on demand destruction worries
[13:32] {Threei} this dynamic will work for a while
[13:32] {GeoArb} makes sense vad
[13:32] {Threei} then, I suspect, oil is oing to get hit but completely other things
[13:32] {Threei} ...going to get hit by...
[13:33] {Threei} namely, by the structure of its futures trading
[13:33] {Threei} which in a sense is a bubble on its own
[13:33] {GeoArb} well now Es is 6% margin
[13:33] {GeoArb} we get 10%
[13:34] {GeoArb} not much sense going to futures
[13:34] {GeoArb} 5-10 depending
[13:34] {Threei} where huge derivatives structure is overhanging relatively small underlying market
[13:34] {Threei} and when this thing unravels...
[13:35] {peterg} Any info on redemptions from hedge funds today?
[13:38] {GeoArb} decent up day today
[13:38] {GeoArb} i had thought sideways
[13:44] {Threei} C .76 worth a try
[13:44] {Threei} if stays above .65
06[13:56] * Threei kicks C in the rear with steel-toed heavy duty army boots
[13:57] {Threei} ummm... did I mix the sides?
[13:57] {Threei} was that the front?
06[13:59] * Threei is turning C around and repeating kick
[14:00] {GeoArb} comeon vad
[14:00] {GeoArb} i bank there
[14:00] {GeoArb} now ill be thinking about that when i go to atm
[14:00] {GeoArb} tch tch
[14:00] {Threei} lol
[14:00] {GeoArb} enh i am out
[14:01] {Threei} OK, this seems to be the right side
[14:01] {GeoArb} will trade in non lunch time
[14:01] {GeoArb} 3 cents
[14:02] {GeoArb} es looking ready to fall IMO
[14:03] {dino} .
[14:03] {GeoArb} vad made me too much money so am in profit protection mode
[14:04] {dino} gj
[14:04] {Threei} good idea
[14:16] {Threei} half out C .89
[14:17] {GeoArb} just like vad
[14:17] {GeoArb} squeezed blood from a stone
[14:17] {Threei} lol
[14:17] {GeoArb} you in IRS vad? :)
[14:18] {Threei} part time only
[14:20] {GeoArb} i will accept my trouts right about now
[14:20] {Threei} HOUSE SPEAKER PELOSI AND SENATE MAJORITY LEADER REID STATE THEY ARE CONFIDENT CONGRESS WILL PASS A RESPONSIBLE BAILOUT BILL
[14:20] {dino} rcrc sm l .75
[14:24] {Threei} got that half back at .74
[14:24] {Threei} offering it .85
[14:24] {Threei} out
[14:24] {Threei} lol
[14:25] {Threei} WB??
[14:26] {dino} srcl sm l .71
[14:26] {Threei} that was funny on C
[14:26] {GeoArb} yup
[14:27] {GeoArb} squeezing stone truely
[14:28] {Threei} if the stone is sqeezable...
[14:28] {Threei} remember G. gekko's answer to "why do you qwant to wreck this company?"
[14:28] {Threei} "because it's wreckable, alright??"
[14:29] {Threei} offering second half at 20.01
[14:29] {Threei} 21.01
[14:31] {GeoArb} i guess this was a patience grasshopper lesson
[14:32] {Threei} I can pretend that too... but the truth is, it was deep sleep
[14:33] {Threei} out .98
[14:33] {Threei} whatever... why do I fight for 3 cents
[14:40] {dino} out srcl +.20
[14:44] {dino} zion drop
[14:51] {dino} sm dxd l .10
[15:12] {Threei} sharp down WB
[15:23] {dino} dxd stopped -.37
[15:35] {Threei} US TREASURY SEC PAULSON: CREDIT MARKET PROBLEM CONTINUE, STRONG ACTION NEEDED - CONF CALL WITH AMERICAN BANKER'S ASSOCIATION
[15:36] {dino} amzn sm s .97
[15:40] {dino} stopped. calling it a day. i can't trade these big up days for sh#t
[15:41] {Threei} sorry dino
[15:41] {Threei} it's my kind of market
[15:41] {Threei} can do no wrong
[15:41] {dino} not your fault. had to leave for a couple hours, and just generally sucked
[15:42] {dino} when i check my records, the big open and continue days are some of my worst
[15:42] {dino} i am simply an idiot
[15:42] {Threei} usually not my favorites either
[15:42] {Threei} but this one worked fine
[15:42] {dino} gj
[15:43] {GeoArb} yeah good day
[15:43] {GeoArb} didnt get greedy took what vad gave me hehehh
[15:44] {GeoArb} except for the C
[15:45] {dino} gj geo
[15:45] {dino} my mind is wired for dis-belief
[15:47] {GeoArb} i hear you
[15:47] {GeoArb} every time i take what he plays..... i get paranoid about what ifs
[15:47] {GeoArb} what if he retires
[15:47] {GeoArb} etc etc
[15:48] {Threei} ummm
[15:48] {Threei} right in the middle of the play?
[15:48] {GeoArb} no at the end
[15:48] {GeoArb} lol
[15:48] {Threei} leaving you with no instructions on exit?
[15:48] {Threei} must be scary thought
[15:48] {GeoArb} not really
[15:48] {GeoArb} its the cumulative effect aht will hurt
[15:48] {Threei} OK, let me assure you,
[15:48] {GeoArb} not play by play
[15:49] {Threei} if I do, I'll make sure I leave the detailed description for each unfinished trade {G}
[15:49] {GeoArb} if I knew the genesis API as well as some i know
[15:49] {GeoArb} i would conspire with laserdave and hooks your entries and exits with mine
[15:49] {GeoArb} lol
[15:50] {GeoArb} now thats real authotrading
[15:50] {dino} rumors of suspending mark to market
[15:50] {GeoArb} really?
[15:50] {patience} doug kass on realmoney said it at 2:34 pm
[15:51] {GeoArb} so mark to fantasy?
[15:51] {dino} kass-man on real$
[15:51] {dino} its' a tough thing. if i had to mark to market my real estate, hmmmm
[15:52] {dino} as there is not much market
[15:52] {GeoArb} how much is real money sub patience?
[15:53] {patience} haven't a clue, it just goes through credit card
[15:53] {Threei} which is not real money {G}
[15:53] {dino} same here
[15:53] {GeoArb} you have it too dino?
[15:53] {dino} i think 79$
[15:54] {dino} y
[15:54] {dino} for years
[15:54] {patience} vad, was today a light volume day because of jewish holiday?
[15:54] {Threei} I guess
[15:55] {Threei} usually is
[15:55] {GeoArb} ok thanks
[15:55] {GeoArb} ok is 99 now
[15:56] {Threei} a month??
[15:56] {GeoArb} year
[15:56] {Threei} whew
[15:56] {Threei} lol
[15:56] {GeoArb} if it ws a month i fdont think they would let their cards be charged without noticing.
[15:57] {dino} acwx
[15:58] {Threei} Ok guys, thank you all
[15:58] {GeoArb} thanks
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {dino} out rcrc .95 +.20
