Oct 08 2008
Session Time: Wed Oct 08 00:00:00 2008
[07:42] {magoo} morn
06[07:42] * Threei slaps magoo around a bit with a large trout
[07:42] {Threei} oops... I meant good morning
[07:43] {magoo} wow that was quick
[07:43] {Threei} lol
[07:43] {magoo} vad...futs were down 350..up 150..what u thinking today?
[07:44] {Threei} you know, I want to reserve form ing opinion for a bit
[07:44] {magoo} dcc me it then
[07:44] {magoo} come on
[07:44] {Threei} reason is, I clearly allowed my longer term outlook to imact my intraday outlook yesterday
[07:44] {magoo} im there
[07:44] {Threei} so want to make sure I remain objective and trade what I see today
[07:49] {patience} i like that rate cut :) good morning rt
[07:49] {Threei} patience :)
[07:50] {magoo} vad, any news goog bidu aapl rimm??
[07:51] {_xzap} morning all
[07:53] {magoo} morn xzap
[07:54] {_xzap} The only news I saw on RIMM was from y'day magoo
[07:55] {Threei} zap :)
[07:55] {Threei} FED'S PLOSSER: RATE CUTS HAVE A "QUITE LIMITED" ABILITY TO NETRALIZE SYSTEMIC SHOCKS, RATE POLICY SHOULD BE AIMED AT CONTROLLING MEDIUM-TERM INFLATION
[07:55] {Threei} - Regulatory changes should not impare the Fed's independence, Fed must protect it independence
[07:55] {Threei} - Should "think twice" about broadening the Fed's supervisory role, worried by the Fed's balance sheet expansion.
[07:55] {Threei} - The Fed cannot eliminated all market instability, its main role is price stability.
[07:55] {Threei} - We should avoid unrealistic expecations for Fed intervention, calls on the Fed to deliniate clear boundaries for intervention. A systematic approach is needed for emergency lending.
[07:55] {Threei} - "Our preference" is to let market forces restructure financial services, notes that modern financial systems cannot be immune to all types of stress.
[07:57] {Threei} *CENTRAL BANKS ISSUE JOINT STATEMENT ON CO-ORDINATED RATE CUTS
[07:57] {Threei} - Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets.
[07:57] {Threei} - Inflationary pressures have started to moderate in a number of countries, partly reflecting a marked decline in energy and other commodity prices. Inflation expectations are diminishing and remain anchored to price stability. The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability.
[07:58] {Threei} - Some easing of global monetary conditions is therefore warranted. Accordingly, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, Sveriges Riksbank, and the Swiss National Bank are today announcing reductions in policy interest rates. The Bank of Japan expresses its strong support of these policy actions.
[08:01] {Threei} lol, I forgot to post cut ityself
[08:01] {Threei} *CENTRAL BANKS ENACT COORDINATED INTEREST RATE CUTS; FED, ECB, SNB, BOE, RIKSBANK BANK OF CANADA, CHINA PARTICAPATE
[08:01] {Threei} -FED cuts base rate by 50bps to 1.5%
[08:01] {Threei} -ECB cuts base rate by 50bps to 3.75%
[08:01] {Threei} -SNB cuts base rates by 50bps to 2.5%
[08:01] {Threei} -BOE cuts rates 50bps to 4.5%
[08:01] {Threei} -Swedish Riksbank cuts base rate by 50bps to 4.25%
[08:01] {Threei} -Bank of Canada cuts base rate by 50 bps to 2.5%
[08:01] {Threei} -Bank of China cuts base rate 27bps to 6.93%
[08:01] {Threei} quite extraordinary measure
[08:02] {_xzap} what happens when the rate gets to 0 ?
[08:02] {Threei} it won't... sellers will run out of shares to sell sooner than that :)
[08:02] {patience} the gold buried in my back garden will be worth more than my property
[08:03] {_xzap} I wish I had bot some bullion in the 500 area
[08:03] {_xzap} I did buy silver bullion at $11
[08:04] {patience} i am disappointed with how silver has been performing lately
[08:04] {_xzap} me too patience
[08:04] {patience} gold up in spot market this morning
[08:04] {_xzap} I started to sell when it was near $20 but thought it was going to $50
[08:05] {patience} i bought silver wheaten options, sigh
[08:05] {_xzap} I used to trade SLW & GG a lot
[08:06] {patience} me to, i still am holding barrick, goldcorp, kinross
[08:06] {_xzap} oh yeah, I made some $$ on KGC
[08:06] {patience} i'm nervous of kinross with their russian holding
[08:06] {Threei} I watch SLW now and then
[08:07] {Threei} quite a wierdo
[08:07] {_xzap} here's my gold chart: http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=6&dy=0&id=p04450128489&a=99840231
[08:08] {patience} i've been trading gold for awhile, too much manipulation in it
[08:09] {_xzap} i quit trading gold when it got too violent in the swings
[08:10] {patience} i'm a goldbug....pretty much sums it up, blind faith
[08:10] {_xzap} LOL, #1 gap up right now is GOLD
[08:10] {_xzap} do you read Sinclair patience ?
[08:13] {patience} not really, just went and looked at it
[08:15] {_xzap} I rode Century Mining down from $1 and change to .40 cmm.v
[08:15] {patience} ouch
[08:15] {Threei} (CA) SEPT HOUSING STARTS: 217.6 K V 205.0KE
[08:15] {_xzap} yeah, it had a lot of promise or so I thought
[08:15] {Threei} crisis? what crisis?
[08:16] {patience} i traded junior miners 2 years ago and then switched into the big producers
[08:16] {patience} i prefer to scalp than to hold
[08:16] {_xzap} CMM was a spec.
[08:17] {_xzap} I've totally switched to day trading, I won't hold anything overnight
[08:18] {patience} vad taught me to scalp and now i hold minutes to days...but not long
[08:18] {_xzap} I started studying day trading this past January. So far I'm still at a net loss but I'm getting there
[08:19] {patience} managing risk.....learn from vad
[08:20] {_xzap} my mentor taught me how to play the mgr's (morning gap reversals). I still have problems with entry and exit
[08:20] {patience} platform or executing?
[08:20] {_xzap} executing
[08:21] {patience} ok, vad...over to you
[08:21] {_xzap} lol
[08:21] {Threei} I don't use his platform :)
[08:21] {Threei} won't work as a cop-out?
[08:22] {patience} ummm, no
[08:22] {Threei} I knew it
[08:23] {Threei} have you paper traded the method, zap?
[08:23] {_xzap} I've been looking for a room like this with a seasoned leader but some vol would be nice
[08:23] {_xzap} yes I have Vad
[08:23] {Threei} works?
[08:23] {_xzap} i still paper trade now some days
[08:23] {_xzap} yes on paper it works
[08:23] {Threei} I mean that particular method
[08:23] {_xzap} yes
[08:23] {Threei} what's your usual lot?
[08:23] {_xzap} 200 - 500
[08:24] {Threei} so, how about starting it with 50?
[08:24] {Threei} not much more psychological pressure than paper
[08:24] {_xzap} I have traded some 100 lots
[08:24] {Threei} build confidence in method, raise to 100 when it works consisntly for a week or two
[08:24] {_xzap} ok
[08:24] {Threei} raise to 200 when it works consistently over next couple weeks
[08:25] {Threei} increase size gradually to avoid sudden pressure
[08:25] {Threei} on your own comfort
[08:25] {_xzap} under normal mkt conditions, the handful of stocks I trade will easily move 2 -3 points on a reversal
[08:25] {Threei} ease in so to speak
[08:25] {Threei} what do you mean by "some vol would be nice"?
[08:26] {_xzap} vol in the market so we could get normal runs
[08:26] {Threei} well, it will return
[08:26] {Threei} soon enough
[08:26] {Threei} btw, unless there is an extention, short ban expires this evening
[08:26] {_xzap} i try not to trade if the vol on a stock is less than 10k a minute
[08:27] {Threei} that alone should add volume
[08:28] {_xzap} I was taught top down trading, Market, sector, futures, tick & trin but right now the mky is so thin
[08:29] {_xzap} BTW patience, GOLD & AAUK are 2 top gap ups, gold is gonna be in play today I guess
[08:30] {patience} would be nice, i would so love some momo
[08:30] {_xzap} I just scan for stocks } $10 so there's probaly a lot more
[08:33] {Threei} CELL
[08:33] {Threei} SIGNS AGREEMENT IN SOUTH AGRICA WITH SAMSUNG
[08:36] {_xzap} patience } GOLD gap up $5.73
[08:36] {_xzap} anyone want coffee [ ]}
[08:37] {cosmo} add a shot
[08:38] {cosmo} tequila pls
[08:39] {_xzap} the futures have turned
[08:39] {Threei} NQ went from 30+ to red
[08:40] {Threei} see why I am hesitant to form premature opinions today mags?
[08:40] {Threei} central banks around the world take unprecendented measures and signal that they will do whatever it takes to turn this situation around,
[08:41] {Threei} yet market drops.
[08:41] {Threei} It tells me, all their measures will work of course, there is no doubt,
[08:41] {Threei} but market will turn on its own terms
[08:41] {Threei} when it gets rid of early longs,
[08:41] {patience} with as few onboard as possible
[08:41] {Threei} of those who stubbornly hold
[08:41] {Threei} right
[08:42] {Threei} when all the hope lost,
[08:42] {Threei} and when notion of "this sucker is going down" becomes widely accepted.
[08:42] {Threei} There is too much money to be made when it happens,
[08:43] {Threei} no need to cut our fingers trying to get exact moment now.
[08:47] {hawkfan4} "this sucker is going down"
[08:47] {Threei} lol
[08:47] {Threei} meanwhile NQ -26
[08:47] {Threei} over 50 points reversal
[08:47] {hawkfan4} relentless sellers
[08:48] {Threei} truly amazing
[08:49] {Threei} look at BAC
[08:49] {Threei} so, when they bought countrywide and merryl... what exactly did they buy?
[08:50] {peterg} morning, back in hr
[08:50] {Threei} hi peter
[08:50] {hawkfan4} crushed. finnies could get sold today ahead of the short ban ending. then the short ban will end, and they'll get sold again
[08:50] {Threei} lol
[08:51] {Threei} so they get sold no matter what?
[08:51] {Threei} how about ban on selling - will they get sold anyway?
[08:51] {Threei} this looks like resort measure :)
[08:51] {hawkfan4} i see no other option...they'd find a way :)
[08:52] {Threei} I've no doubt
[08:52] {Threei} if that takes injecting 10T they'll do it
[08:53] {Threei} any expense imaginable is cheaper than letting total metdown happen
[08:53] {Threei} and consdering that money is being created by mouse click - what is there to stop them?
[08:54] {hawkfan4} i'm imagining Bernake watching the futures and holding his head, like a trader stuck in a really bad losing position
[08:54] {patience} nah, he's out on job interviews
[08:54] {_xzap} lol hawk, so true
[08:55] {Threei} took 500 at .25 DELL
[08:55] {Threei} this is getting ridiculous
[08:56] {Threei} wet soapy babies are flying everywhere
[08:58] {Threei} now, I am going for a smoke... and when I return I want to see DELL above 14
[08:58] {hawkfan4} lol
[08:58] {_xzap} they built a new Dell plant near me 2 -3 years ago and now there's talk of it closing
[08:59] {_xzap} I haven't had a cigarette in 1 1/2 years, going for a smoke sounds soooo good
[09:00] {patience} my father died in may from smoking, it's not good
[09:00] {_xzap} I quit because of a heart attack at 50
[09:00] {cosmo} cigarettes anyway
[09:00] {Onix} Good morning all
[09:01] {_xzap} morning Onix
[09:02] {_xzap} LOL, me too cosmo
[09:02] {Threei} onix :)
[09:03] {Threei} hmm... stuff I smoked was not strong enough to send DELL to above 14 :)
[09:03] {cosmo} yeah...i don't care what gas costs.... i still smoke my tires.
[09:03] {cosmo} hehe
[09:03] {_xzap} lol
[09:04] {_xzap} I think maybe the BIG sell off is near, maybe today
[09:04] {Threei} market sure feels this way
[09:06] {GeoArb} gm all
[09:06] {Threei} geo :)
[09:06] {_xzap} Geo
[09:07] {cosmo} careful...soapy babies are slipery
[09:07] {Threei} Russian exchange is closed till Fri
[09:08] {Threei} let me repost what I said earlier:
[09:08] {Threei} [07:44] {Threei} I want to reserve forming opinion for a bit
[09:09] {Threei} [07:44] {Threei} reason is, I clearly allowed my longer term outlook to imact my intraday outlook yesterda
[09:09] {Threei} [07:44] {Threei} so want to make sure I remain objective and trade what I see today
[09:09] {Threei} 80 points reversal NQ
[09:10] {cosmo} need another rate cut ...before the open maybe
[09:10] {_xzap} When the Buffet effect didn't work on GE, I knew that couldn't be a good thing
[09:12] {Threei} so far it looks like panic is about to hit right out of the gate
[09:13] {Threei} DJI -213
[09:13] {_xzap} I think that's what the mkt needs Vad, a violent drop
[09:13] {Threei} probably
[09:13] {Threei} washout
[09:13] {_xzap} yep, shake it all out and start building a base
[09:14] {Threei} can you smell desperation is this comment:
[09:14] {Threei} GOLDMAN CHEIF OF GLOBAL ECONOMIC RESEARCH O'NEILL: COORIDNATED RATE CUTS WERE AGRESSIVE AND A VERY POSITIVE STEP
[09:15] {Threei} (FR) FRENCH PM: FRANCE IS READY TO ACQUIRE STAKES IN BANKS, UNDER CERTAIN CONDITIONS
[09:15] {Threei} or this:
[09:15] {Threei} CITIGROUP NOW EXPECTS ECB TO CUT RATES TO 2% BY THE END OF 2009
[09:18] {_xzap} 95% of retailers lowering guidance
[09:18] {Threei} no wonder
[09:19] {Threei} consumer confidence is evaporating
[09:20] {_xzap} I think one thing that really has the mkt on hold right now is all the CEO's that came on TV and said "we are fine" only to tank the next day
[09:20] {_xzap} no trust
[09:21] {dptl} good morning all
[09:21] {Threei} dp :)
[09:22] {_xzap} hi dp
[09:22] {dptl} :)
[09:22] {_xzap} Vad, why is the dollar so strong ? That I don't understand
[09:22] {Threei} SEC'S COX: CONGRESS MUST ACT NOW TO PROVIDE OVERSIGHT FOR CREDIT/DEFAULT SWAP MARKETS
[09:23] {Onix} hi dp:)
[09:23] {Threei} I'll submit to Cox, they should have acted on CDS years ago
[09:23] {dptl} :) Onix
[09:23] {Threei} zap... a lot of theories, none of them short enough to post here,
[09:24] {Threei} a very very short jist would be:
[09:24] {Threei} deeply oversold levels plus realisation that Europe situation is probably even more dire than USA
[09:24] {_xzap} look what it's done since mid July: http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=3&mn=0&dy=0&id=p02312263577&a=99941010
[09:25] {Threei} plus complicated carry trades and derivatives suddenly leading to sahirtage of USD in Central banks
[09:25] {Threei} plus 5 more factors, too much for me to remember
[09:28] {Threei} call me a whimp, but I am out that half lot DELL .50
[09:29] {Threei} DNDN
[09:29] {Threei} HEARING RENEWED CHATTER THAT DNDN MAY ANNOUNCE A PARTNERSHIP WITH A BIG PHARMA COMPANY
[09:30] {Threei} NUAN
[09:30] {Threei} SIGNS MULTI-YEAR AGREEMENT WITH NOKIA, SPANNING ADVANCED INPUT TECHNOLOGIES AND OPEN DEVELOPMENT FRAMEWORK
[09:32] {Threei} UPDATE: CANACCORD ADAMS RAISED RIMM TO BUY FROM HOLD
[09:32] {Threei} - pre-open
[09:37] {Threei} Long Setup: DELL .41
[09:37] {Threei} .29 stop
[09:38] {Threei} half out .56
[09:38] {Threei} scalpers know what to do
[09:38] {Threei} stop to .39 for holders of half
[09:39] {magoo} out ty vad
[09:39] {Threei} welcome sir
[09:39] {GeoArb} TY vad
[09:39] {Threei} out in full .75
[09:41] {Threei} candidates for pullback entry: XLNX and ADBE
[09:43] {_xzap} DRYS setting up for short
[09:44] {Threei} ADBE 29.06 half lot break
[09:45] {Threei} XLNX 21.25 half lot
[09:45] {Threei} ADBE invalidated
[09:45] {Threei} bounce candidate rather
[09:46] {Threei} XLNX is valid as long as holding above 21
[09:50] {Threei} XLNX over 1:1
[09:51] {Threei} ADBE slipped through fingers
[09:51] {_xzap} DRYS res at 22.5
[09:52] {esemde} good morning
[09:52] {Threei} ese :)
[09:52] {_xzap} hey ese
[09:53] {Threei} Long Setup: NUAN 11.81 half lot if stays above .60
[09:54] {Threei} German Fin Min Steinbrueck stated in a letter to US Treasury's Paulson that markets are still far from being “out of the woods” and called for for a global ban on certain short selling activities.
06[09:54] * Threei is crying
[09:56] {_xzap} Vad, do you place buy stop orders such as 11.81 on NUAN ?
[09:56] {hawkfan4} how many points is the dow down since the short ban?
[09:56] {Threei} no, I execute manually
[09:56] {_xzap} ok
[09:56] {Threei} no kidding hawk
[09:57] {_xzap} pending home sales at 10 am
[09:59] {_xzap} Vad, here's part of my problem. I wanted to short DRYS @ 22.50 but didn't pull the trigger. Now it's down almost 1 point
[10:00] {Threei} zap... best book I can recommend on this kind of troubleshooting for practically any frequent problem:
[10:00] {Threei} http://www.realitytrader.com/masterplan/
[10:00] {_xzap} ok
[10:00] {Threei} AUG PENDING HOME SALES: 7.4% V -1.3%E
[10:00] {Threei} - prior revised from -3.2% to -2.7
[10:01] {Threei} hmm
[10:01] {GeoArb} dino buying again
[10:01] {Threei} isn;'t it an unexpectedly good number
[10:01] {Threei} lol
[10:01] {magoo} vad..should we be buying pullbacks or shorting spikes?
[10:01] {Onix} lies me thinks
[10:02] {Threei} for now, buying pullbacks mode mags
[10:02] {Threei} but let's keep it to half lots
[10:02] {magoo} k
[10:02] {Threei} it's not like all the nervousness got removed from market over last 30 minutes
[10:03] {Threei} onix.. even if number is true... it's pending, so certain % of those will fall trough for the lack of financing
[10:04] {Threei} and I'd suspect in current credit crunch it will be signifiant %
[10:04] {Onix} all true
[10:04] {GeoArb} so whats the trickle down timeline again?
[10:04] {_xzap} I really don't like this swing from pm to the open
[10:05] {_xzap} CSIQ at 12.40 ?
[10:06] {Threei} .41
[10:06] {Threei} and puyllback is too deep now
[10:06] {Threei} invalidated as breakout unless goes through new consolidation between .20 and .40
[10:07] {_xzap} I see res at the pivot lines
[10:07] {GeoArb} i guess nuan still on
[10:07] {Threei} it is but keep an eye on futs
[10:08] {Threei} all these plays are valid only with market resumping strength
[10:11] {Threei} if market returns to melancholic mode, NUAN will be a short on .60 breakdown
[10:17] {Threei} feel free to cover NUAN for a scalp
[10:21] {_xzap} got + .16 out of NUAN
[10:22] {Threei} cool beans
[10:22] {GeoArb} "cool beans"
[10:22] {_xzap} but that just covers com. on 100 shares
[10:22] {Onix} ty Vad, got .18 in NUAN
[10:22] {Threei} geo... whatever you do today, do NOT keep score which is now stands at 3 for 3
[10:22] {hawkfan4} lol
[10:22] {Threei} onix :)
[10:22] {GeoArb} my tally pad is flushed
[10:22] {GeoArb} and off course you mentioned the numbers
[10:23] {Threei} well zap... 100 shares is not really money making lot unless you play something of RIMM kind... it's a training lot
[10:23] {GeoArb} in laser i need about 2 cents regardless of share size
[10:23] {_xzap} I'm just gun shy from previous losses and this real thin mkt
[10:23] {GeoArb} right vad?
[10:24] {GeoArb} i am counting in and out and ECN passthrus
[10:24] {_xzap} Scott Trade, I need .14 for break even
[10:24] {Threei} actually yes... do you pay per share commissions or per order, zap?
[10:24] {GeoArb} scotttrade
[10:24] {GeoArb} ticket
[10:24] {_xzap} per order, $7
[10:24] {Threei} no good for less than 100 shares then
[10:24] {GeoArb} gotta pay for the helecopter :)
[10:25] {Threei} less than 1000 sorry
[10:25] {_xzap} i know
[10:25] {Threei} and execution on scott... sorry, never heard much compliments about that
[10:27] {_xzap} it does take 2 fills sometimes over 500
[10:27] {Threei} and you pay two tickets??
[10:27] {_xzap} no, just 1
[10:27] {Threei} whew
[10:27] {_xzap} SQNM break down
[10:27] {Onix} Questrade at least charges only $4.50 in & $4.50 out up to 499 shares
[10:28] {GeoArb} what we need vad is to open a brockerage
[10:28] {GeoArb} brokerage too
[10:28] {_xzap} too late on SQNM, missed that one
[10:28] {Threei} I'd agree with you if it was 1998 :)
[10:28] {GeoArb} :)
[10:28] {_xzap} whay do you guys use ?
[10:29] {Threei} laser
[10:29] {Onix} I use Genesis' Laser platform
[10:29] {GeoArb} I signed up for real moneyand signed up for a "book" on options on futures......I got a call from a full service broker for 15 min.....then me mailed me a CME booklet !!!!
[10:29] {_xzap} Is it just a platform for entering orders ?
[10:29] {Onix} $0.05 per share
[10:30] {Threei} it's a full package zap
[10:30] {GeoArb} what else would you need xzap?
[10:30] {Threei} quotes, charts, executions
[10:30] {Threei} *US TSY TO REOPEN SECURITIES IN MULTIPLE AUCTIONS
[10:31] {Threei} click on an icon on our homepage zap, and ask for a demo
[10:31] {_xzap} ok, thx
[10:31] {Threei} run it for a week, see if you like it
[10:31] {_xzap} I hate setting up a whole new program
[10:32] {Threei} pay to scotttrade then :)
[10:32] {_xzap} lol
[10:32] {Threei} hehe
[10:32] {Threei} come on... takes what, 10 min?
[10:32] {_xzap} I'm looking now
[10:32] {Threei} who installed laser more or less recently
[10:32] {GeoArb} me?
[10:32] {Threei} more than 10 min?
[10:32] {Onix} I did
[10:32] {Threei} or less?
[10:33] {_xzap} and the fees are what ?
[10:33] {Threei} especially if using pre-canned layouts
[10:33] {Onix} VERY quick & easy with LaserDave's help
[10:33] {GeoArb} i just borrowed vads and daves
[10:33] {Threei} read there on a webpage zap
[10:33] {GeoArb} and mixed em
[10:33] {Threei} laserdave is moving these couple days, so maybe a phone call will be faster than e-mail
[10:34] {_xzap} I would like a system where you can enter a stop at the same time you enter a buy in one order
[10:34] {GeoArb} hmmm
[10:34] {Threei} sorry, two separate operations
[10:34] {_xzap} I think they all are
[10:34] {GeoArb} depends xzap
[10:35] {GeoArb} use button trader with IB it throws a bracket out.... stop and target
[10:35] {GeoArb} but you loose a lot on speed
[10:35] {GeoArb} as vad will testify i went on that journey
[10:35] {Threei} DOE CRUDE: +8.21M V +2.4ME; GASOLINE: +7..2M V +1ME;
[10:35] {Threei} oh boy
[10:35] {esemde} OK....added another full lot of NVDA at 7.25
[10:35] {Threei} we are awash in oil
[10:36] {Onix} but the price is holding well
[10:36] {Threei} ese... what's your time horizon for NVDA?
[10:36] {Threei} price of what onix?
[10:37] {Threei} USO dropped dolar and half on numbers
[10:37] {Onix} oil
[10:37] {esemde} months ....possibly a year
[10:37] {Onix} oh did not watch USO
[10:37] {Threei} :)
[10:38] {Threei} ese... I believe you are getting firesale prices
[10:38] {Threei} I honestly can't imagine all DELLs and NVDAs of the world remaining this low
[10:39] {esemde} On this one for sure.......at the very least it could be bought out for anywhere between 15 and 20 a share....which I doubt would happen
[10:39] {_xzap} so laser is $200 a month ?
[10:39] {Threei} shhh zap
[10:39] {_xzap} lol
[10:39] {Threei} there is a little dirty secret
[10:40] {Threei} dcc for it :)
[10:43] {Threei} USO is down more
[10:52] {Threei} market narrowed
[10:52] {Threei} staying on a sideline, waiting for next road signal
[10:55] {Onix} Until later then, gotta go to my real job now
[10:58] {Threei} getting interested in AA but so far can't get its rythm
[11:01] {Threei} US TREASURY SEC PAULSON WILL REPORTEDLY SPEAK AT G7 CONFERENCE LATER TODAY
[11:04] {Threei} AA
[11:04] {Threei} .61 lng
[11:04] {Threei} .49 stop
[11:04] {Threei} argh
[11:04] {Threei} a bit late
[11:05] {GeoArb} second c\hance?
[11:05] {Threei} yes
[11:05] {Threei} got .56
[11:07] {Threei} half out .74
[11:07] {Threei} full out.85
[11:07] {magoo} out .88 TY vaad
[11:07] {Threei} welcome sir
[11:08] {GeoArb} all out .89
[11:08] {GeoArb} was in .63
[11:08] {dptl} ty aa +.30
[11:08] {Threei} close enough
[11:08] {Threei} good job guys
[11:08] {GeoArb} nice vad
[11:09] {_xzap} DRYS @ 20.70 ?
[11:09] {Threei} wow
[11:09] {Threei} it's 65 cents from here :)
[11:10] {_xzap} SQNM 18 ?
[11:11] {Threei} not clear SQNM
[11:12] {_xzap} ADBE
[11:13] {Threei} if market resumes strength, AA could be a nice runner off 14 break
[11:13] {Threei} risky one
[11:15] {magoo} vad..yu think we going down 350 today?
[11:15] {Threei} no
[11:15] {Threei} but then again, I didn't think that yesterday either
[11:15] {GeoArb} sounds like a town hall answer vad
06[11:16] * Threei slaps GeoArb around a bit with a large trout
[11:17] {GeoArb} geo{-- agrees market has slowed down too
[11:19] {Threei} hint Geo... that's not the way to talk a man who is running 4 for 4 today (not that we keep score)
[11:20] {GeoArb} geo{-- bows and scrapes and shuffles away.... not keeping score off course
[11:20] {Threei} nope
[11:21] {Threei} half out AA
[11:21] {Threei} that would constitute 5 for 5 IF we kepr score
[11:21] {GeoArb} half out .11
[11:21] {GeoArb} wow
[11:22] {Threei} out in full
[11:23] {GeoArb} out now
[11:23] {GeoArb} .26
[11:23] {GeoArb} saweet
[11:24] {GeoArb} i LOVE hotkeys
[11:24] {GeoArb} thanks dptl
[11:24] {dptl} :)
[11:25] {GeoArb} oh yeah... thanks vad
[11:27] {Threei} pullbacks are buyable, IMO
[11:27] {Threei} just don't jump in too soon
[11:28] {Threei} or wait for some consolidation followed by break
[11:28] {Threei} ADBE, AA
[11:29] {_xzap} DRYS at .21 ?
[11:29] {Threei} very nice pullback AA
[11:29] {Threei} 21 break
[11:29] {Threei} on DRYS
[11:30] {GeoArb} heheheh
[11:30] {GeoArb} i went .21 break on aa
[11:30] {GeoArb} got out 26 after reading next line
[11:30] {GeoArb} 5 cents
[11:30] {Threei} it has more in it if market resumes
[11:31] {Threei} and it should
[11:31] {_xzap} $21 break or .21 break Vad on DRYS?
[11:31] {Threei} 21
[11:31] {Threei} but pullbacks are way too deep on it for my taste
[11:31] {_xzap} k
[11:31] {Threei} too volatile for reliable read
[11:32] {_xzap} Semi's #2 hot group right now
[11:33] {Threei} what's number 1?
[11:33] {_xzap} Gold & Silver
[11:33] {_xzap} missed a good run on FMER
[11:34] {esemde} am back...screen trouble
[11:34] {Threei} sizeable pullback ADBE also
[11:34] {Threei} wait for market to resumption
[11:35] {_xzap} thx for the info Vad, I talked to dave
[11:36] {Threei} still selling in the market but reversal feels close
[11:37] {GeoArb} quick Q.... do people here have TTN?
[11:37] {GeoArb} as vad posts the imp stuff anyway
[11:38] {GeoArb} trying to cut back on subscriptions
[11:38] {_xzap} what's TNN Geo?
[11:38] {GeoArb} tradethenews
[11:38] {Threei} in AA
[11:38] {_xzap} nope
[11:38] {Threei} stop .15
[11:39] {Threei} missed ADBE
[11:39] {Threei} just a scalp most likely, don't chase above .25
[11:45] {_xzap} JOYG near day's low
[11:45] {magoo} 200 down boss
[11:45] {Threei} and counting
[11:46] {Threei} easy money maybe done for now
[11:47] {_xzap} JRCC short ?
[11:47] {Threei} on bounce preferrably
[11:48] {Threei} .30 -.40 area is closest resistance
[11:48] {_xzap} FWLT short ?
[11:49] {Threei} how many of them are you playing at the same time?
[11:49] {Threei} JRCC just bounced into resistance
[11:49] {_xzap} I watch 5 charts
[11:50] {Threei} yes, but 5 open positions in such thin and fast stocks?
[11:50] {Threei} look at JRCC
[11:50] {Threei} beautiful drop right off resistance area
[11:50] {_xzap} oh no, just watch for pivots and res/sup
[11:50] {Threei} you took it?
[11:50] {Threei} focus man, focus :)
[11:50] {_xzap} didn't tak eit Vad
[11:50] {_xzap} carpet cleaner is here
[11:51] {dptl} lol
[11:51] {GeoArb} lol
[11:51] {Threei} oh I see... you ask just to make me work :)
[11:51] {GeoArb} thats whats funny
[11:51] {_xzap} yes, so I can learn
[11:51] {GeoArb} prodding vad out sleep
[11:51] {_xzap} and I like to hear you talk, I like your accent
[11:51] {dptl} maan you guys...lol
[11:51] {Threei} lol
[11:52] {dptl} can concentrate :)
[11:52] {dptl} cant
[11:52] {Threei} so, group opinion... does this deserve baptising by trout?
[11:52] {patience} yup
[11:52] {Threei} only spelled right
06[11:52] * magoo slaps _xzap around a bit with a large trout
06[11:52] * Threei slaps _xzap around a bit with a large trout
06[11:52] * dptl slaps _xzap around a bit with a large trout
06[11:52] * GeoArb slaps _xzap around a bit with a large trout
[11:52] {_xzap} LMAO
[11:52] {Threei} there... NOW you are member of the group
06[11:53] * hawkfan4 slaps _xzap around a bit with a large trout
[11:53] {Threei} hawk is real trader... he took profit on JRCC first, slapped later
[11:53] {hawkfan4} lol
[11:56] {_xzap} CRZO near losing S2
[11:58] {GeoArb} i have seen the calculations of the pivots xzap
[11:58] {GeoArb} do you think that works better than looking for prev supp res?
[11:58] {_xzap} on QT ?
[11:58] {GeoArb} yes
[11:59] {dptl} i think it all depends on how many people look at this staf on that day geo
[11:59] {_xzap} I use S1 & S2, R1 & R2 and a pivot, they are usually pretty spot on
[11:59] {GeoArb} my impression has been it works better on futures.... but then i dont say this from my lake front estate so........
[12:01] {_xzap} yeah, I've yet to move to the lakefront myself
[12:01] {_xzap} I use them in combination with EMA's and stochs
[12:01] {GeoArb} ok
[12:01] {_xzap} works very well in theory, I'm just gun shy right now from some previous losses
[12:02] {_xzap} see how CRZO bounced off S2 Geo and has moved up .65
[12:03] {GeoArb} Ill have to fire up QT.... I am just using laser charts
[12:03] {GeoArb} will do after market hrs
[12:06] {Threei} starting looking for shorts
[12:06] {Threei} hesistated on DELL .60 break
[12:11] {Chaeron} good afternoon all
[12:11] {Threei} awww
[12:11] {Threei} hi chaeron :(
[12:11] {GeoArb} tch tch
[12:12] {Chaeron} ? something I said?
[12:12] {GeoArb} we dont keep count....
[12:12] {Threei} nah
[12:12] {Threei} just too bad you missed this morning
[12:12] {GeoArb} of wins
[12:13] {Chaeron} I had to go all the way home again for 2 bottles of Vodka
[12:13] {GeoArb} ok that reason wins
[12:13] {Chaeron} that's why I'm late :(
[12:13] {GeoArb} chaeron where do you work again?
[12:13] {patience} are they both empty?
[12:14] {Chaeron} no patience... gifts for a lawyer
[12:14] {GeoArb} wo
[12:14] {Chaeron} sorry to diappoint..
[12:14] {GeoArb} you must have done something really bad
[12:14] {Chaeron} I'm in Fashion Island geo
[12:14] {Chaeron} noooooooo
[12:14] {Threei} DELL bounced into resistance
[12:14] {Chaeron} just signed a deal
[12:14] {Threei} short on market wekening again
[12:15] {Threei} in
[12:15] {Threei} stop above .60
[12:15] {Threei} most likely just a scalp
[12:15] {GeoArb} in .55
[12:16] {Threei} no worky
[12:17] {GeoArb} yo still have that bottle chaeron? :)
[12:17] {_xzap} hi Chaeron
[12:17] {Chaeron} yeah....
[12:17] {GeoArb} :)
[12:17] {Chaeron} hey Zap :)
[12:18] {_xzap} watching JRCC to lose the .50
[12:21] {_xzap} looks like a lot of stocks are holding at S2
[12:23] {patience} ok, off to do 10k, abx +1.57, trades nicely this morning
[12:24] {_xzap} a 10K run patience ?
[12:25] {patience} every day
[12:25] {_xzap} wow
[12:26] {_xzap} I run up and down the steps to fix lunch
[12:26] {patience} great, exercise in whatever form works :)
[12:27] {_xzap} JRCC near .50
[12:30] {_xzap} don't know why I didn't trade that
[12:32] {peterg} wht stops me from trading mostly is fear
[12:32] {peterg} trying to train self to act on probabilities
[12:33] {_xzap} DRYS losing whole number
[12:34] {_xzap} spot gols is $909, S&P is 971, will they cross ?
[12:34] {_xzap} gold
[12:44] {Threei} ADBE changes too fast to call it real time
[12:45] {Threei} try to obsderve it and get a feel for its pullbacks and bunces
[12:45] {Threei} works quite well for quick scalps
[12:45] {Threei} never chase it
[12:45] {Threei} buy on pullbacks deeper than you would think normal
[12:45] {Threei} offer into jumps back up
[12:52] {_xzap} # 1 losing sector, Life Insurance
[12:54] {_xzap} CSIQ trying to get above whole number
[12:56] {_xzap} FWLT running up
[12:59] {_xzap} man, people are selling into ANY little run
[13:00] {Threei} well... they are also buying any pullback
[13:00] {Threei} which keeps us in locked market for now
[13:00] {Threei} look ADBE
[13:00] {Threei} this is preview of things to come qwhen bull starts roaring
[13:01] {Threei} real moves instead of tiny scalps
[13:02] {_xzap} the NAS stocks I follow are down 50 - 70 %. When the bull comes it will back to 5 -10 point moves
[13:03] {magoo} forgot what its like vad
[13:03] {Threei} start remembering slowly
[13:04] {Threei} don't jump in with both feet yet of course
[13:05] {Threei} we will have a lot of time when it starts, it's not going to be a week or two
[13:06] {_xzap} MM's back from lunch it looks like
[13:08] {magoo} vad..u think close green?
[13:08] {Threei} very possible
[13:11] {Threei} if you watched ADBE closely, you'd take .67-.70 on this last pullback
[13:11] {_xzap} LIHR setting up for a pullback
[13:14] {Threei} 30 break is coming with market help
[13:14] {Threei} came
[13:15] {Threei} a bit too fast
[13:15] {Threei} anyone managed to grab it?
[13:18] {Threei} prime minister is in town... what am I doing here with you sleepyheads
[13:18] {_xzap} JRCC @ 16.01 ?
[13:19] {Threei} nah
[13:19] {Threei} spiked too vertical into resistance
[13:19] {Threei} if consolidates a little, then yes
[13:20] {laserdave1} magoo dcc please
[13:31] {Threei} even though we are still in red, do you feel how differently market feels and acts today?
[13:31] {magoo} feels like coiling vad
[13:32] {Threei} see how much more wilingly stocks go up now?
[13:33] {hawkfan4} definitely getting more interesting
[13:36] {Threei} pullbacks are really getting bought
[13:40] {Threei} FITCH CUTS ICELAND'S SOVEREIGN RATINGS
[13:43] {Threei} do you guys watch ADBE?
[13:43] {Threei} not necessary playing
[13:43] {Threei} but watching to see how it's goling to work everywhere very soon
[13:44] {Threei} hmmm
[13:44] {Threei} I guess I'll see you all in 6 months
[13:50] {GeoArb} 6 months?
[13:50] {Threei} yup
[13:51] {GeoArb} wgat did i miss?
[13:51] {Threei} wheh you sleepyheads will have missed first huge leg of bul market
[13:56] {_xzap} I see a lot of stocks making V bottoms today
[13:57] {_xzap} intra day, not long term
[13:57] {Threei} and each pullback is a mini-V
[13:58] {Chaeron} dang... missed SPWRA at 48.15
[13:58] {Chaeron} nice set up
[13:59] {Threei} very
[14:02] {Threei} http://www.telegraph.co.uk/news/worldnews/europe/russia/3159998/Russian-president-Dmitry-Medvedev-calls-for-Europe-to-freeze-out-US.html
[14:02] {GeoArb} pshaw
[14:02] {GeoArb} its not like they relate to him
[14:03] {GeoArb} vad my LII and charts are intermittent
[14:03] {GeoArb} server number?
[14:03] {Threei} 12
[14:04] {peterg} Love potion number 9
[14:04] {peterg} random assoiciation
[14:04] {GeoArb} umm i change all?
[14:05] {_xzap} WERN could run
[14:06] {Threei} not sure what you are asking geo
[14:06] {_xzap} Vad } buy WERN on pullback to 21
[14:08] {_xzap} or 20.69 area maybe ?
[14:09] {Threei} if marker pulls back, drags WERN there, then reverses
[14:09] {Threei} these things should be p[layed with general market
[14:09] {_xzap} I just fixed a mess of fried green tomatoes. Anyone else like 'em ?
[14:26] {Threei} let's sit out next 30 minutes
[14:26] {Threei} and see what last hor brings
[14:26] {Threei} everyone's happy with today so far?
[14:26] {magoo} yup
[14:26] {patience} that was an expensive run i went on
[14:26] {patience} good thing i kept the barrick options
[14:27] {Threei} "can do no wrong" day
[14:27] {Threei} direct opposite of yesterday
[14:27] {patience} totally, just a joy to trade....
[14:27] {Threei} and yesterday was my own fault completely
[14:27] {Threei} just allowed my opinion to override the read
[14:27] {magoo} yes it was {he he as magoo runs for cover}
[14:27] {Threei} happens to me once a year
06[14:27] * Threei slaps magoo around a bit with a large trout
[14:27] {Threei} run faster
[14:28] {Threei} now, last hour will be a bit tougher,
[14:28] {Threei} because market will try to sort olut what to do next
[14:29] {Threei} so we will see if there is something easy to read,
[14:29] {Threei} keep lot to half
[14:29] {Threei} and again,
[14:29] {Threei} memorize the way stocks acted today off pullbacks,
[14:29] {Threei} this is preview of things to come
[14:29] {Threei} when we stop scalping for 15 cents
[14:29] {peterg} jiggity
[14:30] {Threei} and hunt for much bigger moves,
[14:30] {Threei} partial out more vs taking full profit
[14:30] {Threei} letting them run in other words
[14:31] {Threei} have a look at RIMM
[14:31] {Threei} over 6 bucks run up
[14:31] {peterg} made most of yesterday back in it with little bites
[14:31] {Threei} 3 of them are obtainable on a single trade if we are in bull market mode
[14:34] {_xzap} GOLD rolling over
[14:36] {Threei} this is first pullback NQ over a few hours that penetrated lower band
[14:39] {peterg} Vad, talking about day or also overnight holds?
[14:43] {_xzap} JRCC short under 16.9 ?
[14:44] {Threei} with stop over 17.10
[14:47] {Threei} ECB'S KRANJEC: ADDITIONAL ACTION WILL BE EVALUATED IN TIME AS NECESSARY
[14:47] {Threei} I am telling you guys... they will throw any amount of money at this
[14:48] {Threei} and eventusally create so much money eager to jump in that bull market will be as insane as bear was
[14:48] {_xzap} i don't see where there's a choice any more Vad
[14:48] {magoo} cramer posts down day tomorrow with holiday, margin calls etc
[14:48] {Threei} cool... I am ready to buy then mags
[14:48] {Threei} guy's record is perfect
[14:49] {Threei} fade him and you are in the money 95% of the time
[14:49] {magoo} roflol tru dat
[14:49] {Threei} zap... lost me sorry
[14:49] {_xzap} in JRCC @ 16.9
[14:49] {_xzap} I don't think the gov. has any choice now
[14:50] {Threei} nope
[14:50] {Threei} they have to stop it at any cost
[14:50] {Threei} and they will
[14:50] {_xzap} fire up the presses
[14:50] {Threei} eqzaktly
[14:50] {Threei} inflate your way out of problem, damn the consequences 3 years later
[14:51] {_xzap} stopped out JRCC
[14:51] {Threei} broader picture wise, I really hope they'll use the breathing time they get to fix the root of problem
[14:51] {Threei} not really holding my breath for that
[14:51] {Threei} but still hope
[14:52] {Threei} if they don't, a few years down the road we will have even bigger problem
[14:52] {Threei} someone must show leadership and make tough choices
[14:53] {peterg} ok--just paid off mortgage on house....should I take out a new ?
[14:53] {peterg} to pay back in cheaper dollars
[14:53] {Threei} why limit yourelf to just one... :)
[14:53] {peterg} one, a second & a third!!!
[14:53] {Threei} on serious note, that won't work peter
[14:54] {peterg} am a fiscal conservative; have little debt
[14:54] {peterg} like it that way
[14:54] {Threei} what you make will lag behind the inflation
[14:54] {Threei} unless you make a killing in a stock market... but then, why take out mortgage at all
[14:55] {peterg} yep
[14:55] {Threei} one sign of bull market is still missing
[14:55] {Threei} we have everything in place:
[14:56] {Threei} huge drop, all talking heads on TV saying this is the end of the world,
[14:56] {Threei} doom and gloom everywhere
[14:56] {Threei} but one thing is missing:
[14:56] {Threei} Maria still hasn't said it's time to learn how to short and hasn't provided a list of stocks to short
[14:57] {hawkfan4} lol, so true
[14:57] {magoo} that WAS the bottom he he
[14:57] {Threei} yup... :)
[14:57] {Threei} that was what, about a week or two before my bottom call in 2003? :)
[14:58] {Threei} btw, not sure I posted it
[14:58] {Threei} http://www.realitytrader.com/blog/2008/10/information-price-divergence.html
[15:01] {magoo} vad..my usual question here
[15:01] {Threei} can't tell yet
[15:02] {hawkfan4} i bet if we close down maria will be putting that list together real soon
[15:04] {_xzap} is this struggle between bulls and bears a good sign of bottom ?
[15:04] {Threei} I don't see it in such terms
[15:04] {Threei} there is always a struggle between them
[15:05] {Threei} more than that, I am not even sure we have seen the bottom
[15:05] {Threei} one green day bull market does not maketh
[15:05] {_xzap} Oh, I'm sure were aren't at the bottom
[15:05] {Threei} botrtoming out is not an event
[15:05] {Threei} it's a process
[15:05] {Threei} we are working through it
[15:06] {Threei} bulls are slowly getting back in saddle
[15:06] {Threei} bears are overconfident,
[15:06] {Threei} they don't take any hit as more than a pinch yet
[15:07] {Threei} there is a lot of liquidation happens,
[15:07] {Threei} some forced
[15:07] {Threei} some out of panic
[15:07] {Threei} balance is slowly changing
[15:07] {_xzap} I still think we'll see 7500 on the Dow
[15:07] {Threei} and there is an awful lot of money waiting on a sideline, ready to pounce
[15:08] {magoo} oh oh cnbc
[15:08] {Threei} what?
[15:08] {Threei} "learn to short"?
[15:08] {_xzap} can you imagine just how much $$ is sitting and waiting
[15:08] {Threei} trillions
[15:08] {Threei} I am not kidding
[15:08] {_xzap} oh I totally agree
[15:09] {Threei} modest atimation would be 3-4 T
[15:09] {Threei} estimation
[15:10] {cosmo} tell them we're getting impatient
[15:10] {peterg} vad, are you lookikng for more than day trades, i.e. overnight and more?
[15:10] {Threei} you mean paulson speaking mags?
[15:10] {cosmo} me anyway
[15:10] {magoo} yup
[15:10] {Threei} only when the bull is firmly established peter
[15:10] {peterg} ok
[15:10] {Threei} we will see this kind of buying
[15:11] {Threei} totally reckless, like boiling water
[15:11] {Threei} grab anything in sight
[15:11] {Threei} any headline in news is a reason to buy
[15:11] {peterg} buying rampage!
[15:11] {Threei} no headline, buy anyway beforer news appear
[15:11] {Threei} 1999... 2003...
[15:11] {Threei} this kind
[15:11] {peterg} So exciting Im anxious again
[15:12] {Threei} any news and run up on some stock in a sector, everyone starts looking up other names and buy them
[15:12] {Threei} buying
[15:12] {Threei} so we see a lot of sympathy moves
[15:13] {_xzap} In anormal mkt it's normal to see stocks like JRCC, DRYS, FWLT, ENER to have 3 -6 points daily swings
[15:15] {Threei} lookie here
[15:15] {Threei} paulson speaking, and market doesn't drop
[15:15] {Threei} now for ultimate confirmation we need Bush on TV and market not dropping
[15:15] {Threei} and I will buy everything in sight
[15:16] {patience} he has told world markets g7 governmetns will just keep throwing money at the problem
[15:16] {Threei} yes
[15:16] {Threei} but lately any appearance of these guys sent market down screaming, lol
[15:16] {Threei} no matter what they saidf
[15:16] {patience} markets needs an excuse to announce the bottom
[15:17] {_xzap} who's gonna buy all these empty houses on the mkt ?
[15:17] {Threei} just stay away from financials when bull starts
[15:17] {Threei} that sector will be in troubles for quite a while
[15:17] {patience} 3rd quarter results start next week....hopefully up volume continues
[15:18] {Threei} mags... feels like most likely we will stay locked in narrow range
[15:18] {Threei} neither side has enough conviction to close today with any commitment
[15:18] {Threei} maybe slight bias toward up
[15:18] {Threei} but very slight
[15:19] {magoo} tech will be the bull mkt
[15:19] {Threei} one of leading, yes
[15:19] {Threei} not only
[15:19] {magoo} agg
[15:19] {Threei} bios will join a while
[15:20] {Threei} probably energy stocks
[15:20] {Threei} probably utilities
[15:21] {_xzap} alt. energy was in the bailout bill. Solars should do well
[15:22] {Threei} solars I would like to see showing they have it in them still
[15:22] {Threei} this is not an easy sector
[15:22] {cosmo} it needs high oil?
[15:22] {Threei} it was a pure beauty a year ago
[15:22] {_xzap} oil needs to be above 120's for the solars to do real good
[15:22] {Threei} remember when for a month or two almost al.l we played were solars?
[15:23] {Threei} CSIQ, SOLF, JASO, FSLR, CSUN, HOKU
[15:23] {_xzap} and ENER
[15:23] {cosmo} ...and now lunars
[15:23] {Threei} with oil prices dropping, it will take real conviction to continue developing them
[15:23] {_xzap} yep because we are so short sighted
[15:23] {Threei} it happened after oil crisis of 70s
[15:24] {Threei} when all the developemnts in al energy, cars etc were abandoned aftert oil drop
[15:24] {Threei} this time around it's not likely to repeat
[15:24] {Threei} scare was too big
[15:24] {_xzap} oil down = don't worry about it. Oil up = alt. sources, quick !
[15:24] {Threei} and environmental movement is much stronger
[15:25] {_xzap} WWJLD?
[15:25] {Threei} so, I believe in auto industry introduction of greener and morfe economic cars will continue
[15:25] {Threei} solars, gotta see it first
[15:25] {GeoArb} i would love solars in socal
[15:25] {cosmo} photosynthetic cars i say
[15:26] {_xzap} if the Baltic shipping rate ever goes back up, DRYS has about 100 point upside
[15:27] {Threei} it will, as economy starts recovering
[15:27] {_xzap} remember just before the Olympics all you heard was China can't get enough coal, etc
[15:29] {Threei} uhhu
[15:29] {Threei} and oil, ad steel
[15:29] {Threei} and I was predicting China collapse
[15:29] {Threei} and laughed at
[15:31] {Threei} then again... I receive daily e-mails telling me that girls luahg at me since I don't use any of pills enlargening some body parts... so I am used to it
[15:35] {_xzap} I remembere the day oil broke $100. It was later determined that 2 floor traders got together and agreed to make that trade
[15:35] {Threei} oil is under 100, and he still insists on 150 and 200
[15:35] {_xzap} sure, he wants to make a 2nd fortune in wind
[15:36] {cosmo} they're printing the money for that, right now
[15:36] {_xzap} the more Paulson talks, the ore the futures are sliding
[15:36] {Threei} no jump, no slide, really
[15:37] {Threei} narrow range
[15:38] {_xzap} at one time weren't there oil contracts going for 200 ?
[15:38] {Threei} I don't think we ever touched 150
[15:38] {Threei} 148 with change was absolute top
[15:39] {_xzap} the future contracts
[15:39] {Threei} VLO
[15:39] {Threei} MOODY'S RAISES RATING TO BAA2 FROM BAA3
[15:41] {_xzap} sell off coming
[15:41] {Threei} let's see if it gets picked up again
[15:42] {Threei} or bulls decided that was enough for the day
[15:42] {_xzap} I see a lot rolling over
[15:42] {Threei} ADBE will be interesting for bounce scalp near .50
[15:43] {Threei} looks like no ban extention, eh?
[15:43] {Threei} we get out shorts back tomorrow
[15:43] {GeoArb} isnt it expiring at night?
[15:44] {GeoArb} well probably know tomo morning
[15:44] {_xzap} sposed to expire tonight
[15:44] {peterg} expires midnight
[15:44] {peterg} 1159
[15:44] {GeoArb} hey peterg
[15:44] {GeoArb} you experimenting?
[15:44] {peterg} yah?
[15:44] {peterg} not yet--
[15:45] {GeoArb} k
[15:45] {peterg} too much change for oldster
[15:45] {peterg} gradually
[15:45] {GeoArb} heh
[15:45] {GeoArb} i am the baby in this room
[15:45] {Threei} what asre you guys experiewmenting with
[15:45] {GeoArb} 15
[15:45] {GeoArb} hotkeys
[15:45] {GeoArb} and marijuana
[15:45] {_xzap} ENER break down
[15:46] {Threei} (just make sure you keep within a framework of family room when answering)
[15:46] {GeoArb} i did
[15:46] {GeoArb} ewwww
[15:46] {peterg} vad, im interested in hotkeys, geo's good at it. But I need to learn
[15:46] {peterg} more basics about laser
[15:46] {Threei} cool
[15:46] {peterg} their video presumes knowledge I dont yet have
[15:47] {Threei} can you send me your list geo? I never found combination I'd be comfortable with
[15:47] {Threei} maybe yours will work for me
[15:47] {_xzap} i got the demo Laser loaded today
[15:47] {GeoArb} ok
[15:47] {peterg} just want to press b for buy, s for sell, something to change from limit to market
[15:47] {GeoArb} just for your info.... dave uses all function keys
[15:47] {Threei} zap, ask dave for samples of layouts for diff number ofmonitors
[15:47] {GeoArb} i use shift + key
[15:48] {_xzap} ok
[15:48] {GeoArb} yuo dont want to do that peterg as
[15:48] {_xzap} too late to shoet ENER ?
[15:48] {GeoArb} when you key in stock symbols youll start buying selling lol
[15:48] {peterg} function as in f1,2 f3 etc
[15:48] {GeoArb} yeah
[15:48] {peterg} got it
[15:48] {Threei} of course zap
[15:48] {_xzap} or watch for bounce off 38.5 ?
[15:48] {GeoArb} i like shift +
[15:48] {Threei} never chase into parabolic moves
[15:48] {GeoArb} lets call it cat/child protection
[15:48] {Threei} it's a bounce candidate now
[15:49] {peterg} ic
[15:49] {GeoArb} ill email you an export vad
[15:49] {Threei} was there news on it?
[15:49] {Threei} too sharp drop
[15:49] {Threei} tyu geo
[15:49] {_xzap} no news Vad
[15:50] {Threei} something's wrong
[15:50] {peterg} what?
[15:50] {Threei} 5 bucks dump in minutyes with no news?
[15:50] {_xzap} that's not unusual for ENER
[15:51] {_xzap} well, it's not in the AM
[15:52] {_xzap} watch it hit 38.5
[15:53] {_xzap} now bounce
[15:53] {Threei} nope
[15:54] {Threei} something's happening on it
[15:54] {peterg} yeah well it bounced me on my head
[15:55] {_xzap} lol peter
[15:55] {_xzap} big blocks going off now
[15:56] {_xzap} only news is from y'day and it was started at "buy"
[15:56] {dptl} have a good evening all:)
[15:56] {_xzap} see ya dp
[15:56] {GeoArb} sent
[15:56] {GeoArb} vad
[15:56] {Threei} ty
[15:57] {GeoArb} i only use 8 keys
[15:57] {Threei} it starts smelling like halt
[15:57] {GeoArb} bid buy closeout offer sell closeout.. cancel last cancell all
[15:57] {_xzap} i don't see any sup going back 5 days
[15:58] {peterg} heres bounce in last sixty seocnd?
[15:59] {peterg} not
[15:59] {peterg} I hate ENER, ruined my day. not my fault, but ener
[15:59] {GeoArb} really?
[15:59] {magoo} man..still closing down 200 plus
[16:00] {peterg} not a big deal down, but I had a nice dinner all paid for with wine and everything
[16:00] {Threei} supervolatile stock peter... why touch that on last minutes into weird selling
[16:00] {peterg} cz Im stupid??
[16:01] {peterg} remember the secret inner self that lusts for destruction.
[16:01] {Threei} yeah
[16:01] {peterg} must tame it and use to destory others, rightr?
[16:01] {Threei} I killed him
[16:01] {_xzap} now remember that in the am.. could be a good gap play
[16:01] {peterg} hah!
[16:01] {Threei} ii was him or me
[16:01] {peterg} what zap, ENER?
[16:01] {peterg} good pt.
[16:01] {_xzap} yep
[16:02] {Threei} Ok guys, thank you all
[16:02] {Threei} have a great evening
[16:02] {Threei} see you tomorrow
[16:02] {_xzap} you too Vad
[16:02] {patience} really excellent day vad, see you tomorrow
[16:02] {peterg} thks enjoy see you on the morrow
[16:02] {_xzap} ltr guys
[16:02] {Threei} :)
[16:02] {_xzap} and girls if they're any here
[16:02] {patience} moi
[16:02] {_xzap} :)
[07:42] {magoo} morn
06[07:42] * Threei slaps magoo around a bit with a large trout
[07:42] {Threei} oops... I meant good morning
[07:43] {magoo} wow that was quick
[07:43] {Threei} lol
[07:43] {magoo} vad...futs were down 350..up 150..what u thinking today?
[07:44] {Threei} you know, I want to reserve form ing opinion for a bit
[07:44] {magoo} dcc me it then
[07:44] {magoo} come on
[07:44] {Threei} reason is, I clearly allowed my longer term outlook to imact my intraday outlook yesterday
[07:44] {magoo} im there
[07:44] {Threei} so want to make sure I remain objective and trade what I see today
[07:49] {patience} i like that rate cut :) good morning rt
[07:49] {Threei} patience :)
[07:50] {magoo} vad, any news goog bidu aapl rimm??
[07:51] {_xzap} morning all
[07:53] {magoo} morn xzap
[07:54] {_xzap} The only news I saw on RIMM was from y'day magoo
[07:55] {Threei} zap :)
[07:55] {Threei} FED'S PLOSSER: RATE CUTS HAVE A "QUITE LIMITED" ABILITY TO NETRALIZE SYSTEMIC SHOCKS, RATE POLICY SHOULD BE AIMED AT CONTROLLING MEDIUM-TERM INFLATION
[07:55] {Threei} - Regulatory changes should not impare the Fed's independence, Fed must protect it independence
[07:55] {Threei} - Should "think twice" about broadening the Fed's supervisory role, worried by the Fed's balance sheet expansion.
[07:55] {Threei} - The Fed cannot eliminated all market instability, its main role is price stability.
[07:55] {Threei} - We should avoid unrealistic expecations for Fed intervention, calls on the Fed to deliniate clear boundaries for intervention. A systematic approach is needed for emergency lending.
[07:55] {Threei} - "Our preference" is to let market forces restructure financial services, notes that modern financial systems cannot be immune to all types of stress.
[07:57] {Threei} *CENTRAL BANKS ISSUE JOINT STATEMENT ON CO-ORDINATED RATE CUTS
[07:57] {Threei} - Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets.
[07:57] {Threei} - Inflationary pressures have started to moderate in a number of countries, partly reflecting a marked decline in energy and other commodity prices. Inflation expectations are diminishing and remain anchored to price stability. The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability.
[07:58] {Threei} - Some easing of global monetary conditions is therefore warranted. Accordingly, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, Sveriges Riksbank, and the Swiss National Bank are today announcing reductions in policy interest rates. The Bank of Japan expresses its strong support of these policy actions.
[08:01] {Threei} lol, I forgot to post cut ityself
[08:01] {Threei} *CENTRAL BANKS ENACT COORDINATED INTEREST RATE CUTS; FED, ECB, SNB, BOE, RIKSBANK BANK OF CANADA, CHINA PARTICAPATE
[08:01] {Threei} -FED cuts base rate by 50bps to 1.5%
[08:01] {Threei} -ECB cuts base rate by 50bps to 3.75%
[08:01] {Threei} -SNB cuts base rates by 50bps to 2.5%
[08:01] {Threei} -BOE cuts rates 50bps to 4.5%
[08:01] {Threei} -Swedish Riksbank cuts base rate by 50bps to 4.25%
[08:01] {Threei} -Bank of Canada cuts base rate by 50 bps to 2.5%
[08:01] {Threei} -Bank of China cuts base rate 27bps to 6.93%
[08:01] {Threei} quite extraordinary measure
[08:02] {_xzap} what happens when the rate gets to 0 ?
[08:02] {Threei} it won't... sellers will run out of shares to sell sooner than that :)
[08:02] {patience} the gold buried in my back garden will be worth more than my property
[08:03] {_xzap} I wish I had bot some bullion in the 500 area
[08:03] {_xzap} I did buy silver bullion at $11
[08:04] {patience} i am disappointed with how silver has been performing lately
[08:04] {_xzap} me too patience
[08:04] {patience} gold up in spot market this morning
[08:04] {_xzap} I started to sell when it was near $20 but thought it was going to $50
[08:05] {patience} i bought silver wheaten options, sigh
[08:05] {_xzap} I used to trade SLW & GG a lot
[08:06] {patience} me to, i still am holding barrick, goldcorp, kinross
[08:06] {_xzap} oh yeah, I made some $$ on KGC
[08:06] {patience} i'm nervous of kinross with their russian holding
[08:06] {Threei} I watch SLW now and then
[08:07] {Threei} quite a wierdo
[08:07] {_xzap} here's my gold chart: http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=6&dy=0&id=p04450128489&a=99840231
[08:08] {patience} i've been trading gold for awhile, too much manipulation in it
[08:09] {_xzap} i quit trading gold when it got too violent in the swings
[08:10] {patience} i'm a goldbug....pretty much sums it up, blind faith
[08:10] {_xzap} LOL, #1 gap up right now is GOLD
[08:10] {_xzap} do you read Sinclair patience ?
[08:13] {patience} not really, just went and looked at it
[08:15] {_xzap} I rode Century Mining down from $1 and change to .40 cmm.v
[08:15] {patience} ouch
[08:15] {Threei} (CA) SEPT HOUSING STARTS: 217.6 K V 205.0KE
[08:15] {_xzap} yeah, it had a lot of promise or so I thought
[08:15] {Threei} crisis? what crisis?
[08:16] {patience} i traded junior miners 2 years ago and then switched into the big producers
[08:16] {patience} i prefer to scalp than to hold
[08:16] {_xzap} CMM was a spec.
[08:17] {_xzap} I've totally switched to day trading, I won't hold anything overnight
[08:18] {patience} vad taught me to scalp and now i hold minutes to days...but not long
[08:18] {_xzap} I started studying day trading this past January. So far I'm still at a net loss but I'm getting there
[08:19] {patience} managing risk.....learn from vad
[08:20] {_xzap} my mentor taught me how to play the mgr's (morning gap reversals). I still have problems with entry and exit
[08:20] {patience} platform or executing?
[08:20] {_xzap} executing
[08:21] {patience} ok, vad...over to you
[08:21] {_xzap} lol
[08:21] {Threei} I don't use his platform :)
[08:21] {Threei} won't work as a cop-out?
[08:22] {patience} ummm, no
[08:22] {Threei} I knew it
[08:23] {Threei} have you paper traded the method, zap?
[08:23] {_xzap} I've been looking for a room like this with a seasoned leader but some vol would be nice
[08:23] {_xzap} yes I have Vad
[08:23] {Threei} works?
[08:23] {_xzap} i still paper trade now some days
[08:23] {_xzap} yes on paper it works
[08:23] {Threei} I mean that particular method
[08:23] {_xzap} yes
[08:23] {Threei} what's your usual lot?
[08:23] {_xzap} 200 - 500
[08:24] {Threei} so, how about starting it with 50?
[08:24] {Threei} not much more psychological pressure than paper
[08:24] {_xzap} I have traded some 100 lots
[08:24] {Threei} build confidence in method, raise to 100 when it works consisntly for a week or two
[08:24] {_xzap} ok
[08:24] {Threei} raise to 200 when it works consistently over next couple weeks
[08:25] {Threei} increase size gradually to avoid sudden pressure
[08:25] {Threei} on your own comfort
[08:25] {_xzap} under normal mkt conditions, the handful of stocks I trade will easily move 2 -3 points on a reversal
[08:25] {Threei} ease in so to speak
[08:25] {Threei} what do you mean by "some vol would be nice"?
[08:26] {_xzap} vol in the market so we could get normal runs
[08:26] {Threei} well, it will return
[08:26] {Threei} soon enough
[08:26] {Threei} btw, unless there is an extention, short ban expires this evening
[08:26] {_xzap} i try not to trade if the vol on a stock is less than 10k a minute
[08:27] {Threei} that alone should add volume
[08:28] {_xzap} I was taught top down trading, Market, sector, futures, tick & trin but right now the mky is so thin
[08:29] {_xzap} BTW patience, GOLD & AAUK are 2 top gap ups, gold is gonna be in play today I guess
[08:30] {patience} would be nice, i would so love some momo
[08:30] {_xzap} I just scan for stocks } $10 so there's probaly a lot more
[08:33] {Threei} CELL
[08:33] {Threei} SIGNS AGREEMENT IN SOUTH AGRICA WITH SAMSUNG
[08:36] {_xzap} patience } GOLD gap up $5.73
[08:36] {_xzap} anyone want coffee [ ]}
[08:37] {cosmo} add a shot
[08:38] {cosmo} tequila pls
[08:39] {_xzap} the futures have turned
[08:39] {Threei} NQ went from 30+ to red
[08:40] {Threei} see why I am hesitant to form premature opinions today mags?
[08:40] {Threei} central banks around the world take unprecendented measures and signal that they will do whatever it takes to turn this situation around,
[08:41] {Threei} yet market drops.
[08:41] {Threei} It tells me, all their measures will work of course, there is no doubt,
[08:41] {Threei} but market will turn on its own terms
[08:41] {Threei} when it gets rid of early longs,
[08:41] {patience} with as few onboard as possible
[08:41] {Threei} of those who stubbornly hold
[08:41] {Threei} right
[08:42] {Threei} when all the hope lost,
[08:42] {Threei} and when notion of "this sucker is going down" becomes widely accepted.
[08:42] {Threei} There is too much money to be made when it happens,
[08:43] {Threei} no need to cut our fingers trying to get exact moment now.
[08:47] {hawkfan4} "this sucker is going down"
[08:47] {Threei} lol
[08:47] {Threei} meanwhile NQ -26
[08:47] {Threei} over 50 points reversal
[08:47] {hawkfan4} relentless sellers
[08:48] {Threei} truly amazing
[08:49] {Threei} look at BAC
[08:49] {Threei} so, when they bought countrywide and merryl... what exactly did they buy?
[08:50] {peterg} morning, back in hr
[08:50] {Threei} hi peter
[08:50] {hawkfan4} crushed. finnies could get sold today ahead of the short ban ending. then the short ban will end, and they'll get sold again
[08:50] {Threei} lol
[08:51] {Threei} so they get sold no matter what?
[08:51] {Threei} how about ban on selling - will they get sold anyway?
[08:51] {Threei} this looks like resort measure :)
[08:51] {hawkfan4} i see no other option...they'd find a way :)
[08:52] {Threei} I've no doubt
[08:52] {Threei} if that takes injecting 10T they'll do it
[08:53] {Threei} any expense imaginable is cheaper than letting total metdown happen
[08:53] {Threei} and consdering that money is being created by mouse click - what is there to stop them?
[08:54] {hawkfan4} i'm imagining Bernake watching the futures and holding his head, like a trader stuck in a really bad losing position
[08:54] {patience} nah, he's out on job interviews
[08:54] {_xzap} lol hawk, so true
[08:55] {Threei} took 500 at .25 DELL
[08:55] {Threei} this is getting ridiculous
[08:56] {Threei} wet soapy babies are flying everywhere
[08:58] {Threei} now, I am going for a smoke... and when I return I want to see DELL above 14
[08:58] {hawkfan4} lol
[08:58] {_xzap} they built a new Dell plant near me 2 -3 years ago and now there's talk of it closing
[08:59] {_xzap} I haven't had a cigarette in 1 1/2 years, going for a smoke sounds soooo good
[09:00] {patience} my father died in may from smoking, it's not good
[09:00] {_xzap} I quit because of a heart attack at 50
[09:00] {cosmo} cigarettes anyway
[09:00] {Onix} Good morning all
[09:01] {_xzap} morning Onix
[09:02] {_xzap} LOL, me too cosmo
[09:02] {Threei} onix :)
[09:03] {Threei} hmm... stuff I smoked was not strong enough to send DELL to above 14 :)
[09:03] {cosmo} yeah...i don't care what gas costs.... i still smoke my tires.
[09:03] {cosmo} hehe
[09:03] {_xzap} lol
[09:04] {_xzap} I think maybe the BIG sell off is near, maybe today
[09:04] {Threei} market sure feels this way
[09:06] {GeoArb} gm all
[09:06] {Threei} geo :)
[09:06] {_xzap} Geo
[09:07] {cosmo} careful...soapy babies are slipery
[09:07] {Threei} Russian exchange is closed till Fri
[09:08] {Threei} let me repost what I said earlier:
[09:08] {Threei} [07:44] {Threei} I want to reserve forming opinion for a bit
[09:09] {Threei} [07:44] {Threei} reason is, I clearly allowed my longer term outlook to imact my intraday outlook yesterda
[09:09] {Threei} [07:44] {Threei} so want to make sure I remain objective and trade what I see today
[09:09] {Threei} 80 points reversal NQ
[09:10] {cosmo} need another rate cut ...before the open maybe
[09:10] {_xzap} When the Buffet effect didn't work on GE, I knew that couldn't be a good thing
[09:12] {Threei} so far it looks like panic is about to hit right out of the gate
[09:13] {Threei} DJI -213
[09:13] {_xzap} I think that's what the mkt needs Vad, a violent drop
[09:13] {Threei} probably
[09:13] {Threei} washout
[09:13] {_xzap} yep, shake it all out and start building a base
[09:14] {Threei} can you smell desperation is this comment:
[09:14] {Threei} GOLDMAN CHEIF OF GLOBAL ECONOMIC RESEARCH O'NEILL: COORIDNATED RATE CUTS WERE AGRESSIVE AND A VERY POSITIVE STEP
[09:15] {Threei} (FR) FRENCH PM: FRANCE IS READY TO ACQUIRE STAKES IN BANKS, UNDER CERTAIN CONDITIONS
[09:15] {Threei} or this:
[09:15] {Threei} CITIGROUP NOW EXPECTS ECB TO CUT RATES TO 2% BY THE END OF 2009
[09:18] {_xzap} 95% of retailers lowering guidance
[09:18] {Threei} no wonder
[09:19] {Threei} consumer confidence is evaporating
[09:20] {_xzap} I think one thing that really has the mkt on hold right now is all the CEO's that came on TV and said "we are fine" only to tank the next day
[09:20] {_xzap} no trust
[09:21] {dptl} good morning all
[09:21] {Threei} dp :)
[09:22] {_xzap} hi dp
[09:22] {dptl} :)
[09:22] {_xzap} Vad, why is the dollar so strong ? That I don't understand
[09:22] {Threei} SEC'S COX: CONGRESS MUST ACT NOW TO PROVIDE OVERSIGHT FOR CREDIT/DEFAULT SWAP MARKETS
[09:23] {Onix} hi dp:)
[09:23] {Threei} I'll submit to Cox, they should have acted on CDS years ago
[09:23] {dptl} :) Onix
[09:23] {Threei} zap... a lot of theories, none of them short enough to post here,
[09:24] {Threei} a very very short jist would be:
[09:24] {Threei} deeply oversold levels plus realisation that Europe situation is probably even more dire than USA
[09:24] {_xzap} look what it's done since mid July: http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=3&mn=0&dy=0&id=p02312263577&a=99941010
[09:25] {Threei} plus complicated carry trades and derivatives suddenly leading to sahirtage of USD in Central banks
[09:25] {Threei} plus 5 more factors, too much for me to remember
[09:28] {Threei} call me a whimp, but I am out that half lot DELL .50
[09:29] {Threei} DNDN
[09:29] {Threei} HEARING RENEWED CHATTER THAT DNDN MAY ANNOUNCE A PARTNERSHIP WITH A BIG PHARMA COMPANY
[09:30] {Threei} NUAN
[09:30] {Threei} SIGNS MULTI-YEAR AGREEMENT WITH NOKIA, SPANNING ADVANCED INPUT TECHNOLOGIES AND OPEN DEVELOPMENT FRAMEWORK
[09:32] {Threei} UPDATE: CANACCORD ADAMS RAISED RIMM TO BUY FROM HOLD
[09:32] {Threei} - pre-open
[09:37] {Threei} Long Setup: DELL .41
[09:37] {Threei} .29 stop
[09:38] {Threei} half out .56
[09:38] {Threei} scalpers know what to do
[09:38] {Threei} stop to .39 for holders of half
[09:39] {magoo} out ty vad
[09:39] {Threei} welcome sir
[09:39] {GeoArb} TY vad
[09:39] {Threei} out in full .75
[09:41] {Threei} candidates for pullback entry: XLNX and ADBE
[09:43] {_xzap} DRYS setting up for short
[09:44] {Threei} ADBE 29.06 half lot break
[09:45] {Threei} XLNX 21.25 half lot
[09:45] {Threei} ADBE invalidated
[09:45] {Threei} bounce candidate rather
[09:46] {Threei} XLNX is valid as long as holding above 21
[09:50] {Threei} XLNX over 1:1
[09:51] {Threei} ADBE slipped through fingers
[09:51] {_xzap} DRYS res at 22.5
[09:52] {esemde} good morning
[09:52] {Threei} ese :)
[09:52] {_xzap} hey ese
[09:53] {Threei} Long Setup: NUAN 11.81 half lot if stays above .60
[09:54] {Threei} German Fin Min Steinbrueck stated in a letter to US Treasury's Paulson that markets are still far from being “out of the woods” and called for for a global ban on certain short selling activities.
06[09:54] * Threei is crying
[09:56] {_xzap} Vad, do you place buy stop orders such as 11.81 on NUAN ?
[09:56] {hawkfan4} how many points is the dow down since the short ban?
[09:56] {Threei} no, I execute manually
[09:56] {_xzap} ok
[09:56] {Threei} no kidding hawk
[09:57] {_xzap} pending home sales at 10 am
[09:59] {_xzap} Vad, here's part of my problem. I wanted to short DRYS @ 22.50 but didn't pull the trigger. Now it's down almost 1 point
[10:00] {Threei} zap... best book I can recommend on this kind of troubleshooting for practically any frequent problem:
[10:00] {Threei} http://www.realitytrader.com/masterplan/
[10:00] {_xzap} ok
[10:00] {Threei} AUG PENDING HOME SALES: 7.4% V -1.3%E
[10:00] {Threei} - prior revised from -3.2% to -2.7
[10:01] {Threei} hmm
[10:01] {GeoArb} dino buying again
[10:01] {Threei} isn;'t it an unexpectedly good number
[10:01] {Threei} lol
[10:01] {magoo} vad..should we be buying pullbacks or shorting spikes?
[10:01] {Onix} lies me thinks
[10:02] {Threei} for now, buying pullbacks mode mags
[10:02] {Threei} but let's keep it to half lots
[10:02] {magoo} k
[10:02] {Threei} it's not like all the nervousness got removed from market over last 30 minutes
[10:03] {Threei} onix.. even if number is true... it's pending, so certain % of those will fall trough for the lack of financing
[10:04] {Threei} and I'd suspect in current credit crunch it will be signifiant %
[10:04] {Onix} all true
[10:04] {GeoArb} so whats the trickle down timeline again?
[10:04] {_xzap} I really don't like this swing from pm to the open
[10:05] {_xzap} CSIQ at 12.40 ?
[10:06] {Threei} .41
[10:06] {Threei} and puyllback is too deep now
[10:06] {Threei} invalidated as breakout unless goes through new consolidation between .20 and .40
[10:07] {_xzap} I see res at the pivot lines
[10:07] {GeoArb} i guess nuan still on
[10:07] {Threei} it is but keep an eye on futs
[10:08] {Threei} all these plays are valid only with market resumping strength
[10:11] {Threei} if market returns to melancholic mode, NUAN will be a short on .60 breakdown
[10:17] {Threei} feel free to cover NUAN for a scalp
[10:21] {_xzap} got + .16 out of NUAN
[10:22] {Threei} cool beans
[10:22] {GeoArb} "cool beans"
[10:22] {_xzap} but that just covers com. on 100 shares
[10:22] {Onix} ty Vad, got .18 in NUAN
[10:22] {Threei} geo... whatever you do today, do NOT keep score which is now stands at 3 for 3
[10:22] {hawkfan4} lol
[10:22] {Threei} onix :)
[10:22] {GeoArb} my tally pad is flushed
[10:22] {GeoArb} and off course you mentioned the numbers
[10:23] {Threei} well zap... 100 shares is not really money making lot unless you play something of RIMM kind... it's a training lot
[10:23] {GeoArb} in laser i need about 2 cents regardless of share size
[10:23] {_xzap} I'm just gun shy from previous losses and this real thin mkt
[10:23] {GeoArb} right vad?
[10:24] {GeoArb} i am counting in and out and ECN passthrus
[10:24] {_xzap} Scott Trade, I need .14 for break even
[10:24] {Threei} actually yes... do you pay per share commissions or per order, zap?
[10:24] {GeoArb} scotttrade
[10:24] {GeoArb} ticket
[10:24] {_xzap} per order, $7
[10:24] {Threei} no good for less than 100 shares then
[10:24] {GeoArb} gotta pay for the helecopter :)
[10:25] {Threei} less than 1000 sorry
[10:25] {_xzap} i know
[10:25] {Threei} and execution on scott... sorry, never heard much compliments about that
[10:27] {_xzap} it does take 2 fills sometimes over 500
[10:27] {Threei} and you pay two tickets??
[10:27] {_xzap} no, just 1
[10:27] {Threei} whew
[10:27] {_xzap} SQNM break down
[10:27] {Onix} Questrade at least charges only $4.50 in & $4.50 out up to 499 shares
[10:28] {GeoArb} what we need vad is to open a brockerage
[10:28] {GeoArb} brokerage too
[10:28] {_xzap} too late on SQNM, missed that one
[10:28] {Threei} I'd agree with you if it was 1998 :)
[10:28] {GeoArb} :)
[10:28] {_xzap} whay do you guys use ?
[10:29] {Threei} laser
[10:29] {Onix} I use Genesis' Laser platform
[10:29] {GeoArb} I signed up for real moneyand signed up for a "book" on options on futures......I got a call from a full service broker for 15 min.....then me mailed me a CME booklet !!!!
[10:29] {_xzap} Is it just a platform for entering orders ?
[10:29] {Onix} $0.05 per share
[10:30] {Threei} it's a full package zap
[10:30] {GeoArb} what else would you need xzap?
[10:30] {Threei} quotes, charts, executions
[10:30] {Threei} *US TSY TO REOPEN SECURITIES IN MULTIPLE AUCTIONS
[10:31] {Threei} click on an icon on our homepage zap, and ask for a demo
[10:31] {_xzap} ok, thx
[10:31] {Threei} run it for a week, see if you like it
[10:31] {_xzap} I hate setting up a whole new program
[10:32] {Threei} pay to scotttrade then :)
[10:32] {_xzap} lol
[10:32] {Threei} hehe
[10:32] {Threei} come on... takes what, 10 min?
[10:32] {_xzap} I'm looking now
[10:32] {Threei} who installed laser more or less recently
[10:32] {GeoArb} me?
[10:32] {Threei} more than 10 min?
[10:32] {Onix} I did
[10:32] {Threei} or less?
[10:33] {_xzap} and the fees are what ?
[10:33] {Threei} especially if using pre-canned layouts
[10:33] {Onix} VERY quick & easy with LaserDave's help
[10:33] {GeoArb} i just borrowed vads and daves
[10:33] {Threei} read there on a webpage zap
[10:33] {GeoArb} and mixed em
[10:33] {Threei} laserdave is moving these couple days, so maybe a phone call will be faster than e-mail
[10:34] {_xzap} I would like a system where you can enter a stop at the same time you enter a buy in one order
[10:34] {GeoArb} hmmm
[10:34] {Threei} sorry, two separate operations
[10:34] {_xzap} I think they all are
[10:34] {GeoArb} depends xzap
[10:35] {GeoArb} use button trader with IB it throws a bracket out.... stop and target
[10:35] {GeoArb} but you loose a lot on speed
[10:35] {GeoArb} as vad will testify i went on that journey
[10:35] {Threei} DOE CRUDE: +8.21M V +2.4ME; GASOLINE: +7..2M V +1ME;
[10:35] {Threei} oh boy
[10:35] {esemde} OK....added another full lot of NVDA at 7.25
[10:35] {Threei} we are awash in oil
[10:36] {Onix} but the price is holding well
[10:36] {Threei} ese... what's your time horizon for NVDA?
[10:36] {Threei} price of what onix?
[10:37] {Threei} USO dropped dolar and half on numbers
[10:37] {Onix} oil
[10:37] {esemde} months ....possibly a year
[10:37] {Onix} oh did not watch USO
[10:37] {Threei} :)
[10:38] {Threei} ese... I believe you are getting firesale prices
[10:38] {Threei} I honestly can't imagine all DELLs and NVDAs of the world remaining this low
[10:39] {esemde} On this one for sure.......at the very least it could be bought out for anywhere between 15 and 20 a share....which I doubt would happen
[10:39] {_xzap} so laser is $200 a month ?
[10:39] {Threei} shhh zap
[10:39] {_xzap} lol
[10:39] {Threei} there is a little dirty secret
[10:40] {Threei} dcc for it :)
[10:43] {Threei} USO is down more
[10:52] {Threei} market narrowed
[10:52] {Threei} staying on a sideline, waiting for next road signal
[10:55] {Onix} Until later then, gotta go to my real job now
[10:58] {Threei} getting interested in AA but so far can't get its rythm
[11:01] {Threei} US TREASURY SEC PAULSON WILL REPORTEDLY SPEAK AT G7 CONFERENCE LATER TODAY
[11:04] {Threei} AA
[11:04] {Threei} .61 lng
[11:04] {Threei} .49 stop
[11:04] {Threei} argh
[11:04] {Threei} a bit late
[11:05] {GeoArb} second c\hance?
[11:05] {Threei} yes
[11:05] {Threei} got .56
[11:07] {Threei} half out .74
[11:07] {Threei} full out.85
[11:07] {magoo} out .88 TY vaad
[11:07] {Threei} welcome sir
[11:08] {GeoArb} all out .89
[11:08] {GeoArb} was in .63
[11:08] {dptl} ty aa +.30
[11:08] {Threei} close enough
[11:08] {Threei} good job guys
[11:08] {GeoArb} nice vad
[11:09] {_xzap} DRYS @ 20.70 ?
[11:09] {Threei} wow
[11:09] {Threei} it's 65 cents from here :)
[11:10] {_xzap} SQNM 18 ?
[11:11] {Threei} not clear SQNM
[11:12] {_xzap} ADBE
[11:13] {Threei} if market resumes strength, AA could be a nice runner off 14 break
[11:13] {Threei} risky one
[11:15] {magoo} vad..yu think we going down 350 today?
[11:15] {Threei} no
[11:15] {Threei} but then again, I didn't think that yesterday either
[11:15] {GeoArb} sounds like a town hall answer vad
06[11:16] * Threei slaps GeoArb around a bit with a large trout
[11:17] {GeoArb} geo{-- agrees market has slowed down too
[11:19] {Threei} hint Geo... that's not the way to talk a man who is running 4 for 4 today (not that we keep score)
[11:20] {GeoArb} geo{-- bows and scrapes and shuffles away.... not keeping score off course
[11:20] {Threei} nope
[11:21] {Threei} half out AA
[11:21] {Threei} that would constitute 5 for 5 IF we kepr score
[11:21] {GeoArb} half out .11
[11:21] {GeoArb} wow
[11:22] {Threei} out in full
[11:23] {GeoArb} out now
[11:23] {GeoArb} .26
[11:23] {GeoArb} saweet
[11:24] {GeoArb} i LOVE hotkeys
[11:24] {GeoArb} thanks dptl
[11:24] {dptl} :)
[11:25] {GeoArb} oh yeah... thanks vad
[11:27] {Threei} pullbacks are buyable, IMO
[11:27] {Threei} just don't jump in too soon
[11:28] {Threei} or wait for some consolidation followed by break
[11:28] {Threei} ADBE, AA
[11:29] {_xzap} DRYS at .21 ?
[11:29] {Threei} very nice pullback AA
[11:29] {Threei} 21 break
[11:29] {Threei} on DRYS
[11:30] {GeoArb} heheheh
[11:30] {GeoArb} i went .21 break on aa
[11:30] {GeoArb} got out 26 after reading next line
[11:30] {GeoArb} 5 cents
[11:30] {Threei} it has more in it if market resumes
[11:31] {Threei} and it should
[11:31] {_xzap} $21 break or .21 break Vad on DRYS?
[11:31] {Threei} 21
[11:31] {Threei} but pullbacks are way too deep on it for my taste
[11:31] {_xzap} k
[11:31] {Threei} too volatile for reliable read
[11:32] {_xzap} Semi's #2 hot group right now
[11:33] {Threei} what's number 1?
[11:33] {_xzap} Gold & Silver
[11:33] {_xzap} missed a good run on FMER
[11:34] {esemde} am back...screen trouble
[11:34] {Threei} sizeable pullback ADBE also
[11:34] {Threei} wait for market to resumption
[11:35] {_xzap} thx for the info Vad, I talked to dave
[11:36] {Threei} still selling in the market but reversal feels close
[11:37] {GeoArb} quick Q.... do people here have TTN?
[11:37] {GeoArb} as vad posts the imp stuff anyway
[11:38] {GeoArb} trying to cut back on subscriptions
[11:38] {_xzap} what's TNN Geo?
[11:38] {GeoArb} tradethenews
[11:38] {Threei} in AA
[11:38] {_xzap} nope
[11:38] {Threei} stop .15
[11:39] {Threei} missed ADBE
[11:39] {Threei} just a scalp most likely, don't chase above .25
[11:45] {_xzap} JOYG near day's low
[11:45] {magoo} 200 down boss
[11:45] {Threei} and counting
[11:46] {Threei} easy money maybe done for now
[11:47] {_xzap} JRCC short ?
[11:47] {Threei} on bounce preferrably
[11:48] {Threei} .30 -.40 area is closest resistance
[11:48] {_xzap} FWLT short ?
[11:49] {Threei} how many of them are you playing at the same time?
[11:49] {Threei} JRCC just bounced into resistance
[11:49] {_xzap} I watch 5 charts
[11:50] {Threei} yes, but 5 open positions in such thin and fast stocks?
[11:50] {Threei} look at JRCC
[11:50] {Threei} beautiful drop right off resistance area
[11:50] {_xzap} oh no, just watch for pivots and res/sup
[11:50] {Threei} you took it?
[11:50] {Threei} focus man, focus :)
[11:50] {_xzap} didn't tak eit Vad
[11:50] {_xzap} carpet cleaner is here
[11:51] {dptl} lol
[11:51] {GeoArb} lol
[11:51] {Threei} oh I see... you ask just to make me work :)
[11:51] {GeoArb} thats whats funny
[11:51] {_xzap} yes, so I can learn
[11:51] {GeoArb} prodding vad out sleep
[11:51] {_xzap} and I like to hear you talk, I like your accent
[11:51] {dptl} maan you guys...lol
[11:51] {Threei} lol
[11:52] {dptl} can concentrate :)
[11:52] {dptl} cant
[11:52] {Threei} so, group opinion... does this deserve baptising by trout?
[11:52] {patience} yup
[11:52] {Threei} only spelled right
06[11:52] * magoo slaps _xzap around a bit with a large trout
06[11:52] * Threei slaps _xzap around a bit with a large trout
06[11:52] * dptl slaps _xzap around a bit with a large trout
06[11:52] * GeoArb slaps _xzap around a bit with a large trout
[11:52] {_xzap} LMAO
[11:52] {Threei} there... NOW you are member of the group
06[11:53] * hawkfan4 slaps _xzap around a bit with a large trout
[11:53] {Threei} hawk is real trader... he took profit on JRCC first, slapped later
[11:53] {hawkfan4} lol
[11:56] {_xzap} CRZO near losing S2
[11:58] {GeoArb} i have seen the calculations of the pivots xzap
[11:58] {GeoArb} do you think that works better than looking for prev supp res?
[11:58] {_xzap} on QT ?
[11:58] {GeoArb} yes
[11:59] {dptl} i think it all depends on how many people look at this staf on that day geo
[11:59] {_xzap} I use S1 & S2, R1 & R2 and a pivot, they are usually pretty spot on
[11:59] {GeoArb} my impression has been it works better on futures.... but then i dont say this from my lake front estate so........
[12:01] {_xzap} yeah, I've yet to move to the lakefront myself
[12:01] {_xzap} I use them in combination with EMA's and stochs
[12:01] {GeoArb} ok
[12:01] {_xzap} works very well in theory, I'm just gun shy right now from some previous losses
[12:02] {_xzap} see how CRZO bounced off S2 Geo and has moved up .65
[12:03] {GeoArb} Ill have to fire up QT.... I am just using laser charts
[12:03] {GeoArb} will do after market hrs
[12:06] {Threei} starting looking for shorts
[12:06] {Threei} hesistated on DELL .60 break
[12:11] {Chaeron} good afternoon all
[12:11] {Threei} awww
[12:11] {Threei} hi chaeron :(
[12:11] {GeoArb} tch tch
[12:12] {Chaeron} ? something I said?
[12:12] {GeoArb} we dont keep count....
[12:12] {Threei} nah
[12:12] {Threei} just too bad you missed this morning
[12:12] {GeoArb} of wins
[12:13] {Chaeron} I had to go all the way home again for 2 bottles of Vodka
[12:13] {GeoArb} ok that reason wins
[12:13] {Chaeron} that's why I'm late :(
[12:13] {GeoArb} chaeron where do you work again?
[12:13] {patience} are they both empty?
[12:14] {Chaeron} no patience... gifts for a lawyer
[12:14] {GeoArb} wo
[12:14] {Chaeron} sorry to diappoint..
[12:14] {GeoArb} you must have done something really bad
[12:14] {Chaeron} I'm in Fashion Island geo
[12:14] {Chaeron} noooooooo
[12:14] {Threei} DELL bounced into resistance
[12:14] {Chaeron} just signed a deal
[12:14] {Threei} short on market wekening again
[12:15] {Threei} in
[12:15] {Threei} stop above .60
[12:15] {Threei} most likely just a scalp
[12:15] {GeoArb} in .55
[12:16] {Threei} no worky
[12:17] {GeoArb} yo still have that bottle chaeron? :)
[12:17] {_xzap} hi Chaeron
[12:17] {Chaeron} yeah....
[12:17] {GeoArb} :)
[12:17] {Chaeron} hey Zap :)
[12:18] {_xzap} watching JRCC to lose the .50
[12:21] {_xzap} looks like a lot of stocks are holding at S2
[12:23] {patience} ok, off to do 10k, abx +1.57, trades nicely this morning
[12:24] {_xzap} a 10K run patience ?
[12:25] {patience} every day
[12:25] {_xzap} wow
[12:26] {_xzap} I run up and down the steps to fix lunch
[12:26] {patience} great, exercise in whatever form works :)
[12:27] {_xzap} JRCC near .50
[12:30] {_xzap} don't know why I didn't trade that
[12:32] {peterg} wht stops me from trading mostly is fear
[12:32] {peterg} trying to train self to act on probabilities
[12:33] {_xzap} DRYS losing whole number
[12:34] {_xzap} spot gols is $909, S&P is 971, will they cross ?
[12:34] {_xzap} gold
[12:44] {Threei} ADBE changes too fast to call it real time
[12:45] {Threei} try to obsderve it and get a feel for its pullbacks and bunces
[12:45] {Threei} works quite well for quick scalps
[12:45] {Threei} never chase it
[12:45] {Threei} buy on pullbacks deeper than you would think normal
[12:45] {Threei} offer into jumps back up
[12:52] {_xzap} # 1 losing sector, Life Insurance
[12:54] {_xzap} CSIQ trying to get above whole number
[12:56] {_xzap} FWLT running up
[12:59] {_xzap} man, people are selling into ANY little run
[13:00] {Threei} well... they are also buying any pullback
[13:00] {Threei} which keeps us in locked market for now
[13:00] {Threei} look ADBE
[13:00] {Threei} this is preview of things to come qwhen bull starts roaring
[13:01] {Threei} real moves instead of tiny scalps
[13:02] {_xzap} the NAS stocks I follow are down 50 - 70 %. When the bull comes it will back to 5 -10 point moves
[13:03] {magoo} forgot what its like vad
[13:03] {Threei} start remembering slowly
[13:04] {Threei} don't jump in with both feet yet of course
[13:05] {Threei} we will have a lot of time when it starts, it's not going to be a week or two
[13:06] {_xzap} MM's back from lunch it looks like
[13:08] {magoo} vad..u think close green?
[13:08] {Threei} very possible
[13:11] {Threei} if you watched ADBE closely, you'd take .67-.70 on this last pullback
[13:11] {_xzap} LIHR setting up for a pullback
[13:14] {Threei} 30 break is coming with market help
[13:14] {Threei} came
[13:15] {Threei} a bit too fast
[13:15] {Threei} anyone managed to grab it?
[13:18] {Threei} prime minister is in town... what am I doing here with you sleepyheads
[13:18] {_xzap} JRCC @ 16.01 ?
[13:19] {Threei} nah
[13:19] {Threei} spiked too vertical into resistance
[13:19] {Threei} if consolidates a little, then yes
[13:20] {laserdave1} magoo dcc please
[13:31] {Threei} even though we are still in red, do you feel how differently market feels and acts today?
[13:31] {magoo} feels like coiling vad
[13:32] {Threei} see how much more wilingly stocks go up now?
[13:33] {hawkfan4} definitely getting more interesting
[13:36] {Threei} pullbacks are really getting bought
[13:40] {Threei} FITCH CUTS ICELAND'S SOVEREIGN RATINGS
[13:43] {Threei} do you guys watch ADBE?
[13:43] {Threei} not necessary playing
[13:43] {Threei} but watching to see how it's goling to work everywhere very soon
[13:44] {Threei} hmmm
[13:44] {Threei} I guess I'll see you all in 6 months
[13:50] {GeoArb} 6 months?
[13:50] {Threei} yup
[13:51] {GeoArb} wgat did i miss?
[13:51] {Threei} wheh you sleepyheads will have missed first huge leg of bul market
[13:56] {_xzap} I see a lot of stocks making V bottoms today
[13:57] {_xzap} intra day, not long term
[13:57] {Threei} and each pullback is a mini-V
[13:58] {Chaeron} dang... missed SPWRA at 48.15
[13:58] {Chaeron} nice set up
[13:59] {Threei} very
[14:02] {Threei} http://www.telegraph.co.uk/news/worldnews/europe/russia/3159998/Russian-president-Dmitry-Medvedev-calls-for-Europe-to-freeze-out-US.html
[14:02] {GeoArb} pshaw
[14:02] {GeoArb} its not like they relate to him
[14:03] {GeoArb} vad my LII and charts are intermittent
[14:03] {GeoArb} server number?
[14:03] {Threei} 12
[14:04] {peterg} Love potion number 9
[14:04] {peterg} random assoiciation
[14:04] {GeoArb} umm i change all?
[14:05] {_xzap} WERN could run
[14:06] {Threei} not sure what you are asking geo
[14:06] {_xzap} Vad } buy WERN on pullback to 21
[14:08] {_xzap} or 20.69 area maybe ?
[14:09] {Threei} if marker pulls back, drags WERN there, then reverses
[14:09] {Threei} these things should be p[layed with general market
[14:09] {_xzap} I just fixed a mess of fried green tomatoes. Anyone else like 'em ?
[14:26] {Threei} let's sit out next 30 minutes
[14:26] {Threei} and see what last hor brings
[14:26] {Threei} everyone's happy with today so far?
[14:26] {magoo} yup
[14:26] {patience} that was an expensive run i went on
[14:26] {patience} good thing i kept the barrick options
[14:27] {Threei} "can do no wrong" day
[14:27] {Threei} direct opposite of yesterday
[14:27] {patience} totally, just a joy to trade....
[14:27] {Threei} and yesterday was my own fault completely
[14:27] {Threei} just allowed my opinion to override the read
[14:27] {magoo} yes it was {he he as magoo runs for cover}
[14:27] {Threei} happens to me once a year
06[14:27] * Threei slaps magoo around a bit with a large trout
[14:27] {Threei} run faster
[14:28] {Threei} now, last hour will be a bit tougher,
[14:28] {Threei} because market will try to sort olut what to do next
[14:29] {Threei} so we will see if there is something easy to read,
[14:29] {Threei} keep lot to half
[14:29] {Threei} and again,
[14:29] {Threei} memorize the way stocks acted today off pullbacks,
[14:29] {Threei} this is preview of things to come
[14:29] {Threei} when we stop scalping for 15 cents
[14:29] {peterg} jiggity
[14:30] {Threei} and hunt for much bigger moves,
[14:30] {Threei} partial out more vs taking full profit
[14:30] {Threei} letting them run in other words
[14:31] {Threei} have a look at RIMM
[14:31] {Threei} over 6 bucks run up
[14:31] {peterg} made most of yesterday back in it with little bites
[14:31] {Threei} 3 of them are obtainable on a single trade if we are in bull market mode
[14:34] {_xzap} GOLD rolling over
[14:36] {Threei} this is first pullback NQ over a few hours that penetrated lower band
[14:39] {peterg} Vad, talking about day or also overnight holds?
[14:43] {_xzap} JRCC short under 16.9 ?
[14:44] {Threei} with stop over 17.10
[14:47] {Threei} ECB'S KRANJEC: ADDITIONAL ACTION WILL BE EVALUATED IN TIME AS NECESSARY
[14:47] {Threei} I am telling you guys... they will throw any amount of money at this
[14:48] {Threei} and eventusally create so much money eager to jump in that bull market will be as insane as bear was
[14:48] {_xzap} i don't see where there's a choice any more Vad
[14:48] {magoo} cramer posts down day tomorrow with holiday, margin calls etc
[14:48] {Threei} cool... I am ready to buy then mags
[14:48] {Threei} guy's record is perfect
[14:49] {Threei} fade him and you are in the money 95% of the time
[14:49] {magoo} roflol tru dat
[14:49] {Threei} zap... lost me sorry
[14:49] {_xzap} in JRCC @ 16.9
[14:49] {_xzap} I don't think the gov. has any choice now
[14:50] {Threei} nope
[14:50] {Threei} they have to stop it at any cost
[14:50] {Threei} and they will
[14:50] {_xzap} fire up the presses
[14:50] {Threei} eqzaktly
[14:50] {Threei} inflate your way out of problem, damn the consequences 3 years later
[14:51] {_xzap} stopped out JRCC
[14:51] {Threei} broader picture wise, I really hope they'll use the breathing time they get to fix the root of problem
[14:51] {Threei} not really holding my breath for that
[14:51] {Threei} but still hope
[14:52] {Threei} if they don't, a few years down the road we will have even bigger problem
[14:52] {Threei} someone must show leadership and make tough choices
[14:53] {peterg} ok--just paid off mortgage on house....should I take out a new ?
[14:53] {peterg} to pay back in cheaper dollars
[14:53] {Threei} why limit yourelf to just one... :)
[14:53] {peterg} one, a second & a third!!!
[14:53] {Threei} on serious note, that won't work peter
[14:54] {peterg} am a fiscal conservative; have little debt
[14:54] {peterg} like it that way
[14:54] {Threei} what you make will lag behind the inflation
[14:54] {Threei} unless you make a killing in a stock market... but then, why take out mortgage at all
[14:55] {peterg} yep
[14:55] {Threei} one sign of bull market is still missing
[14:55] {Threei} we have everything in place:
[14:56] {Threei} huge drop, all talking heads on TV saying this is the end of the world,
[14:56] {Threei} doom and gloom everywhere
[14:56] {Threei} but one thing is missing:
[14:56] {Threei} Maria still hasn't said it's time to learn how to short and hasn't provided a list of stocks to short
[14:57] {hawkfan4} lol, so true
[14:57] {magoo} that WAS the bottom he he
[14:57] {Threei} yup... :)
[14:57] {Threei} that was what, about a week or two before my bottom call in 2003? :)
[14:58] {Threei} btw, not sure I posted it
[14:58] {Threei} http://www.realitytrader.com/blog/2008/10/information-price-divergence.html
[15:01] {magoo} vad..my usual question here
[15:01] {Threei} can't tell yet
[15:02] {hawkfan4} i bet if we close down maria will be putting that list together real soon
[15:04] {_xzap} is this struggle between bulls and bears a good sign of bottom ?
[15:04] {Threei} I don't see it in such terms
[15:04] {Threei} there is always a struggle between them
[15:05] {Threei} more than that, I am not even sure we have seen the bottom
[15:05] {Threei} one green day bull market does not maketh
[15:05] {_xzap} Oh, I'm sure were aren't at the bottom
[15:05] {Threei} botrtoming out is not an event
[15:05] {Threei} it's a process
[15:05] {Threei} we are working through it
[15:06] {Threei} bulls are slowly getting back in saddle
[15:06] {Threei} bears are overconfident,
[15:06] {Threei} they don't take any hit as more than a pinch yet
[15:07] {Threei} there is a lot of liquidation happens,
[15:07] {Threei} some forced
[15:07] {Threei} some out of panic
[15:07] {Threei} balance is slowly changing
[15:07] {_xzap} I still think we'll see 7500 on the Dow
[15:07] {Threei} and there is an awful lot of money waiting on a sideline, ready to pounce
[15:08] {magoo} oh oh cnbc
[15:08] {Threei} what?
[15:08] {Threei} "learn to short"?
[15:08] {_xzap} can you imagine just how much $$ is sitting and waiting
[15:08] {Threei} trillions
[15:08] {Threei} I am not kidding
[15:08] {_xzap} oh I totally agree
[15:09] {Threei} modest atimation would be 3-4 T
[15:09] {Threei} estimation
[15:10] {cosmo} tell them we're getting impatient
[15:10] {peterg} vad, are you lookikng for more than day trades, i.e. overnight and more?
[15:10] {Threei} you mean paulson speaking mags?
[15:10] {cosmo} me anyway
[15:10] {magoo} yup
[15:10] {Threei} only when the bull is firmly established peter
[15:10] {peterg} ok
[15:10] {Threei} we will see this kind of buying
[15:11] {Threei} totally reckless, like boiling water
[15:11] {Threei} grab anything in sight
[15:11] {Threei} any headline in news is a reason to buy
[15:11] {peterg} buying rampage!
[15:11] {Threei} no headline, buy anyway beforer news appear
[15:11] {Threei} 1999... 2003...
[15:11] {Threei} this kind
[15:11] {peterg} So exciting Im anxious again
[15:12] {Threei} any news and run up on some stock in a sector, everyone starts looking up other names and buy them
[15:12] {Threei} buying
[15:12] {Threei} so we see a lot of sympathy moves
[15:13] {_xzap} In anormal mkt it's normal to see stocks like JRCC, DRYS, FWLT, ENER to have 3 -6 points daily swings
[15:15] {Threei} lookie here
[15:15] {Threei} paulson speaking, and market doesn't drop
[15:15] {Threei} now for ultimate confirmation we need Bush on TV and market not dropping
[15:15] {Threei} and I will buy everything in sight
[15:16] {patience} he has told world markets g7 governmetns will just keep throwing money at the problem
[15:16] {Threei} yes
[15:16] {Threei} but lately any appearance of these guys sent market down screaming, lol
[15:16] {Threei} no matter what they saidf
[15:16] {patience} markets needs an excuse to announce the bottom
[15:17] {_xzap} who's gonna buy all these empty houses on the mkt ?
[15:17] {Threei} just stay away from financials when bull starts
[15:17] {Threei} that sector will be in troubles for quite a while
[15:17] {patience} 3rd quarter results start next week....hopefully up volume continues
[15:18] {Threei} mags... feels like most likely we will stay locked in narrow range
[15:18] {Threei} neither side has enough conviction to close today with any commitment
[15:18] {Threei} maybe slight bias toward up
[15:18] {Threei} but very slight
[15:19] {magoo} tech will be the bull mkt
[15:19] {Threei} one of leading, yes
[15:19] {Threei} not only
[15:19] {magoo} agg
[15:19] {Threei} bios will join a while
[15:20] {Threei} probably energy stocks
[15:20] {Threei} probably utilities
[15:21] {_xzap} alt. energy was in the bailout bill. Solars should do well
[15:22] {Threei} solars I would like to see showing they have it in them still
[15:22] {Threei} this is not an easy sector
[15:22] {cosmo} it needs high oil?
[15:22] {Threei} it was a pure beauty a year ago
[15:22] {_xzap} oil needs to be above 120's for the solars to do real good
[15:22] {Threei} remember when for a month or two almost al.l we played were solars?
[15:23] {Threei} CSIQ, SOLF, JASO, FSLR, CSUN, HOKU
[15:23] {_xzap} and ENER
[15:23] {cosmo} ...and now lunars
[15:23] {Threei} with oil prices dropping, it will take real conviction to continue developing them
[15:23] {_xzap} yep because we are so short sighted
[15:23] {Threei} it happened after oil crisis of 70s
[15:24] {Threei} when all the developemnts in al energy, cars etc were abandoned aftert oil drop
[15:24] {Threei} this time around it's not likely to repeat
[15:24] {Threei} scare was too big
[15:24] {_xzap} oil down = don't worry about it. Oil up = alt. sources, quick !
[15:24] {Threei} and environmental movement is much stronger
[15:25] {_xzap} WWJLD?
[15:25] {Threei} so, I believe in auto industry introduction of greener and morfe economic cars will continue
[15:25] {Threei} solars, gotta see it first
[15:25] {GeoArb} i would love solars in socal
[15:25] {cosmo} photosynthetic cars i say
[15:26] {_xzap} if the Baltic shipping rate ever goes back up, DRYS has about 100 point upside
[15:27] {Threei} it will, as economy starts recovering
[15:27] {_xzap} remember just before the Olympics all you heard was China can't get enough coal, etc
[15:29] {Threei} uhhu
[15:29] {Threei} and oil, ad steel
[15:29] {Threei} and I was predicting China collapse
[15:29] {Threei} and laughed at
[15:31] {Threei} then again... I receive daily e-mails telling me that girls luahg at me since I don't use any of pills enlargening some body parts... so I am used to it
[15:35] {_xzap} I remembere the day oil broke $100. It was later determined that 2 floor traders got together and agreed to make that trade
[15:35] {Threei} oil is under 100, and he still insists on 150 and 200
[15:35] {_xzap} sure, he wants to make a 2nd fortune in wind
[15:36] {cosmo} they're printing the money for that, right now
[15:36] {_xzap} the more Paulson talks, the ore the futures are sliding
[15:36] {Threei} no jump, no slide, really
[15:37] {Threei} narrow range
[15:38] {_xzap} at one time weren't there oil contracts going for 200 ?
[15:38] {Threei} I don't think we ever touched 150
[15:38] {Threei} 148 with change was absolute top
[15:39] {_xzap} the future contracts
[15:39] {Threei} VLO
[15:39] {Threei} MOODY'S RAISES RATING TO BAA2 FROM BAA3
[15:41] {_xzap} sell off coming
[15:41] {Threei} let's see if it gets picked up again
[15:42] {Threei} or bulls decided that was enough for the day
[15:42] {_xzap} I see a lot rolling over
[15:42] {Threei} ADBE will be interesting for bounce scalp near .50
[15:43] {Threei} looks like no ban extention, eh?
[15:43] {Threei} we get out shorts back tomorrow
[15:43] {GeoArb} isnt it expiring at night?
[15:44] {GeoArb} well probably know tomo morning
[15:44] {_xzap} sposed to expire tonight
[15:44] {peterg} expires midnight
[15:44] {peterg} 1159
[15:44] {GeoArb} hey peterg
[15:44] {GeoArb} you experimenting?
[15:44] {peterg} yah?
[15:44] {peterg} not yet--
[15:45] {GeoArb} k
[15:45] {peterg} too much change for oldster
[15:45] {peterg} gradually
[15:45] {GeoArb} heh
[15:45] {GeoArb} i am the baby in this room
[15:45] {Threei} what asre you guys experiewmenting with
[15:45] {GeoArb} 15
[15:45] {GeoArb} hotkeys
[15:45] {GeoArb} and marijuana
[15:45] {_xzap} ENER break down
[15:46] {Threei} (just make sure you keep within a framework of family room when answering)
[15:46] {GeoArb} i did
[15:46] {GeoArb} ewwww
[15:46] {peterg} vad, im interested in hotkeys, geo's good at it. But I need to learn
[15:46] {peterg} more basics about laser
[15:46] {Threei} cool
[15:46] {peterg} their video presumes knowledge I dont yet have
[15:47] {Threei} can you send me your list geo? I never found combination I'd be comfortable with
[15:47] {Threei} maybe yours will work for me
[15:47] {_xzap} i got the demo Laser loaded today
[15:47] {GeoArb} ok
[15:47] {peterg} just want to press b for buy, s for sell, something to change from limit to market
[15:47] {GeoArb} just for your info.... dave uses all function keys
[15:47] {Threei} zap, ask dave for samples of layouts for diff number ofmonitors
[15:47] {GeoArb} i use shift + key
[15:48] {_xzap} ok
[15:48] {GeoArb} yuo dont want to do that peterg as
[15:48] {_xzap} too late to shoet ENER ?
[15:48] {GeoArb} when you key in stock symbols youll start buying selling lol
[15:48] {peterg} function as in f1,2 f3 etc
[15:48] {GeoArb} yeah
[15:48] {peterg} got it
[15:48] {Threei} of course zap
[15:48] {_xzap} or watch for bounce off 38.5 ?
[15:48] {GeoArb} i like shift +
[15:48] {Threei} never chase into parabolic moves
[15:48] {GeoArb} lets call it cat/child protection
[15:48] {Threei} it's a bounce candidate now
[15:49] {peterg} ic
[15:49] {GeoArb} ill email you an export vad
[15:49] {Threei} was there news on it?
[15:49] {Threei} too sharp drop
[15:49] {Threei} tyu geo
[15:49] {_xzap} no news Vad
[15:50] {Threei} something's wrong
[15:50] {peterg} what?
[15:50] {Threei} 5 bucks dump in minutyes with no news?
[15:50] {_xzap} that's not unusual for ENER
[15:51] {_xzap} well, it's not in the AM
[15:52] {_xzap} watch it hit 38.5
[15:53] {_xzap} now bounce
[15:53] {Threei} nope
[15:54] {Threei} something's happening on it
[15:54] {peterg} yeah well it bounced me on my head
[15:55] {_xzap} lol peter
[15:55] {_xzap} big blocks going off now
[15:56] {_xzap} only news is from y'day and it was started at "buy"
[15:56] {dptl} have a good evening all:)
[15:56] {_xzap} see ya dp
[15:56] {GeoArb} sent
[15:56] {GeoArb} vad
[15:56] {Threei} ty
[15:57] {GeoArb} i only use 8 keys
[15:57] {Threei} it starts smelling like halt
[15:57] {GeoArb} bid buy closeout offer sell closeout.. cancel last cancell all
[15:57] {_xzap} i don't see any sup going back 5 days
[15:58] {peterg} heres bounce in last sixty seocnd?
[15:59] {peterg} not
[15:59] {peterg} I hate ENER, ruined my day. not my fault, but ener
[15:59] {GeoArb} really?
[15:59] {magoo} man..still closing down 200 plus
[16:00] {peterg} not a big deal down, but I had a nice dinner all paid for with wine and everything
[16:00] {Threei} supervolatile stock peter... why touch that on last minutes into weird selling
[16:00] {peterg} cz Im stupid??
[16:01] {peterg} remember the secret inner self that lusts for destruction.
[16:01] {Threei} yeah
[16:01] {peterg} must tame it and use to destory others, rightr?
[16:01] {Threei} I killed him
[16:01] {_xzap} now remember that in the am.. could be a good gap play
[16:01] {peterg} hah!
[16:01] {Threei} ii was him or me
[16:01] {peterg} what zap, ENER?
[16:01] {peterg} good pt.
[16:01] {_xzap} yep
[16:02] {Threei} Ok guys, thank you all
[16:02] {Threei} have a great evening
[16:02] {Threei} see you tomorrow
[16:02] {_xzap} you too Vad
[16:02] {patience} really excellent day vad, see you tomorrow
[16:02] {peterg} thks enjoy see you on the morrow
[16:02] {_xzap} ltr guys
[16:02] {Threei} :)
[16:02] {_xzap} and girls if they're any here
[16:02] {patience} moi
[16:02] {_xzap} :)
