Feb 13 2009

Nice strong day. 7 calls, 6 of them wins. Got the idea of the rally right, managed to time it and get nice trade on FAS. Good way to finish the week before the long weekend.

Session Time: Fri Feb 13 00:00:00 2009

[08:12] {Threei}  Good morning

[08:13] {nemo} Well...I'll give you the morning part :)

[08:13] {Threei}  BALTIC DRY BULK INDEX FALLS 4.1%, SECOND STRAIGHT DECLINE

[08:13] {Threei}  I amnimble, I'll take it

[08:16] {magoo} morning

[08:16] {nemo} morgen

[08:17] {Threei}  magoo

[08:17] {larisa} good morning :)

[08:18] {nemo} Hi Larisa

[08:18] {larisa} nemo, threei :)

[08:18] {Threei}  larisa :)

[08:18] {Threei}  PALM had news yesterday after close

[08:19] {Threei}  02/12/09 04:16pm

[08:19] {Threei}  [QCOM] Qualcomm Inc Introduces new chipset targeting sub-$150 smartphones

[08:19] {Threei}  - Announced the new Mobile Station Modem(TM) (MSM(TM)) MSM7227(TM) chipset designed to enable high-performance, sub-$150 Smartphones.

[08:19] {Threei}  - The MSM7227 solution will offer advanced processing and rich multimedia while utilizing HSDPA/HSUPA for broadband data speeds over 3G networks. It also can support all leading mobile operating systems including Android, Symbian S60, Windows Mobile(R) and BREW(R) Mobile Platform.

[08:19] {Threei}  02/12/09 09:18pm [PALM] Macquarie Initiates PALM with buy, price target: $10

[08:19] {Threei}  06:52am [PALM] Credit Suisse Initiates PALM with Outperform, price target: $11

[08:39] {Onix} gm all

[08:39] {Threei}  onix :)

[08:41] {magoo} thoughts on PALM vad

[08:42] {Threei}  none yet... gap is gap, gotta see how it trades

[08:42] {Threei}  aside of upgrades, no real news on it came out yet

[08:43] {Threei}  whch means major deal stock moves on is still ahead

[08:43] {Threei}  and may or may not materialize

[08:43] {Threei}  look how GERN got smacked yesterday after hours

[08:43] {Threei}  those who simply kept it counting on news got hit

[08:44] {cujo} good morning

[08:44] {Threei}  cujo :)

[08:45] {magoo} ok

[08:47] {Threei}  one thing bothers me about yesterday rally

[08:47] {Threei}  it started at 15.10

[08:48] {Threei}  news that is considered to trigger it came out at 14:59

[08:48] {Threei}  11 minutes for major players capable of moving market that much to see and digest news of such magnitude?

[08:48] {Threei}  something doesn't add up here

[08:50] {Threei}  one more curious divergence:

[08:50] {Threei}  CAT is widely expected to be one of major benefitters of stimulus plan

[08:51] {Threei}  and in fact said itself as much

[08:51] {Threei}  yet no any meaningful move last days

[08:51] {Threei}  to me, looks like there is no absolute confidence in the market that the deal will pass

[08:52] {Threei}  margins are so thin, no one wants to bet

[08:52] {Threei}  it hangs on what, 3 votes?

[08:55] {Threei}  Gregg's wathdrawal doesn't help either

[08:56] {Threei}  REPORTEDLY A G7 SOURCE NOTES THE ROME COMMUNIQUE WILL INCLUDE A COMMITTMENT TO FREE TRADE

[08:56] {Threei}  - G7 members have been expressing concerns over protectionism in recent sessions

[09:00] {Threei}  GERN CONFIRMS PRCING OF 7.25M SHARE OFFERING

[09:01] {Threei}  - Pricing of an underwritten public offering of 7.25 million shares of its common stock. The offering is expected to close on February 19, 2009.

[09:01] {Threei}  - On February 12, 2009, the last reported sales price of Geron common stock on the Nasdaq Global Market was $7.77

[09:02] {fernp} Hello everybody

[09:02] {Threei}  fern :)

[09:03] {Threei}  hmmm... no pricing in the news

[09:03] {Threei}  I don't think it's 7.77

[09:09] {dino} gm all

[09:09] {Threei}  dino :)

[09:12] {magoo} i lost the icon to other other old trading room..that was how dino and i were getting into mirc, anyway to get that back?real

[09:12] {magoo} i am in bogus room yester and today

[09:12] {magoo} this driving me crazy

[09:12] {cosmo} i know the feeling

[09:12] {Threei}  go to:

[09:13] {Threei}  my computer - C - program files - mirc

[09:13] {magoo} i know im an idiot, but i gotta get this resolved

[09:13] {Threei}  find mirc.exe file,

[09:13] {Threei}  right click,

[09:13] {Threei}  create shortcut

[09:13] {Threei}  drug that shortcut to desktop

[09:13] {Threei}  and your icon will be back

[09:14] {Threei}  how do icons disappear by themselves...

[09:17] {magoo} no worky..i know we need to focus, but after trading i need someone to walk me ythru this crap

[09:18] {magoo} my system did a scan, then the icon came up"shortcut no longer there"  

[09:18] {magoo} gone

[09:19] {Threei}  but you do have mirc folder?

[09:20] {fernp} click on Star - RUN and write this mags: C:\Program Files\mIRC\mirc.exe

[09:20] {nemo} all he should have to do is highlight mirc.exe and drag it to the desktop

[09:20] {magoo} wheres Star/

[09:21] {ese} password recognizsed....you are now acceptted......good morning

[09:21] {fernp} star = start

[09:21] {magoo} did anyone use the other download successfully?

[09:21] {Threei}  ese :)

[09:21] {magoo} i had troubles with that

[09:22] {magoo} say i never had old room, there was other download

[09:23] {dptl} good morning all

[09:23] {Threei}  dp :)

[09:23] {Threei}  mags... what doesn't work when you do what I described?

[09:24] {magoo} femp..is your slash correct "/"

[09:25] {magoo} where the reverse slash

[09:25] {magoo} its not in there

[09:25] {magoo} vad

[09:25] {Threei}  you don't have mirc folder?

[09:25] {ese} anything sticking out premarket

[09:26] {magoo} lets trade but MAN..io need assistance

[09:26] {magoo} is there a reverse slash????

[09:26] {Threei}  watching PALM, ese... also HIG, FAS, RIMM, CAT

[09:26] {magoo} shit found ittttttttttttttttttt

[09:26] {magoo} lets trade

[09:26] {magoo} make $$$

[09:26] {Threei}  lol

[09:27] {nemo} any crissake trade on RIMM this mornin'?

[09:27] {magoo} if u knew my personality this crap drives me nuts..about ready to smash keyboard

[09:27] {ese} by the way.....exited  QQQQ at .51 yesterday + .51 on a full lot

[09:27] {vint} looks like there is downgrade on RIMM by credit su..

[09:27] {magoo} and dino worse than me...couldnt find reverse slash either

06[09:28] * Threei is really glad he doesn't know magoo's personality

[09:28] {pita} morning all, I'm with magoo, make $$$

[09:28] {dino} nice timing huh vint

[09:28] {Threei}  pita :)

[09:30] {Threei}  RIMM .50 break long half lot

[09:30] {cosmo} SVNT: # FDA extends review time for gout drugAP(Thu 8:39pm)

[09:30] {Threei}  stop under .35

[09:30] {fernp} the slash is correct mags...

[09:31] {nemo} whoa!

[09:31] {nemo} blew right by

[09:31] {Threei}  over 1:1

[09:31] {Threei}  over 1:2, I am out

[09:32] {tomg} out ty vad

[09:32] {cujo} thanks Vad

[09:32] {Threei}  :)

[09:32] {Onix} out ty Vad

[09:32] {buyemsellem} nice thanks

[09:32] {Threei}  welcome guys

[09:32] {pita} I blinked

[09:32] {nemo} look at FS

[09:32] {nemo} fas

[09:32] {Threei}  blinking is prohibited on RIMM{ especially at the open

[09:33] {pita} I see that - reload?

[09:33] {magoo} no kidding..went for coffee..u called trade..missed it

[09:33] {nemo} I gotta' get reading glasses

[09:33] {Threei}  no reload on RIMM for now

[09:33] {dino} lol nemo, bought a pair last night

[09:37] {magoo} mkts losing it a biyt

[09:39] {wulff} PALM

[09:39] {wulff} whatever...

[09:39] {Threei}  lol

[09:40] {Threei}  it got couple upgrades wulff

[09:40] {magoo} one too 11

[09:40] {Threei}  PREVIEW: FEB PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE INDEX DUE OUT AT 9:55AMET

[09:40] {Threei}  **consensus expectation: 60.2e v 61.2 prior

[09:40] {Threei}  - analyst estimates range between 56.5 to 64

[09:40] {wulff} got what i needed for now

[09:42] {Threei} Long Setup:  HIG  ..41 if holding above .30

[09:42] {nemo} gone already

[09:43] {magoo} quotes sticking here..anyone else?

[09:43] {Threei}  OK here

[09:43] {pita} yes cannot read qqqq

[09:43] {magoo} are u laser pita?

[09:44] {nemo} you need that neural implant vad...although might get too much unfiltered info

[09:44] {Threei}  Qs 30.45

[09:45] {pita} Yes laser - some charts ok others not

[09:45] {pita} shut it down and restart has fixed

[09:45] {magoo} cause was wondering if its on there side or mine

[09:45] {Threei}  pita, can you give me symbol on a wrong chart?

[09:46] {pita} ???

[09:46] {Threei}  ok... btw you can often fix it without shutting down, just switch a quote server

[09:46] {Threei}  or chart server

[09:46] {pita} tried that - no worky

[09:47] {magoo} which quiote srver u on vad/

[09:47] {Threei}  3

[09:47] {magoo} ty

[09:47] {Threei}  HIG looks salmonish

[09:47] {nemo} FAS is moving up high with it

[09:48] {wulff} and salmonish is?

[09:49] {nemo} against the current

[09:49] {wulff} ah

[09:50] {Threei}  half out HIG .57

[09:50] {Threei}  stop to .35

[09:52] {Threei}  I found new trading pattern

[09:53] {Threei}  every time new bad news come out on economy as a whole, CEDC goes up

[09:53] {Threei}  which is not a surprize when you look at its product

[09:53] {Threei}  before you waste your time looking at the charts, it's a joke

[09:54] {dino} lol

[09:54] {Threei}  cat

[09:55] {dino} stepping back

[09:55] {Threei}  FEB PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: ##56.2 V 60.2E

[09:55] {Threei}  lol

[09:55] {Threei}  big surprise eh

[09:55] {dino} 48 was rimm bottom yesterday

[09:55] {dino} watching

[09:56] {Threei} Long Setup:  CAT  .26 if holding above .15

[09:56] {dino} 47 wmt, 55.65ish mcd, fwiw

[09:58] {magoo} in cat

[09:58] {Threei}  over 1:1, half out, scalpers are scalpers

[09:59] {Threei}  HIG balance stop to under .40

[10:00] {Threei}  CAT balance stop to under .20

[10:00] {dino} wmt sm l .20

[10:00] {magoo} out cat..i am what i am..ty boss

[10:00] {Threei}  (US) FED: EXPANDS FOMC MEETINGS FROM TO TWO DAYS FROM ONE

[10:01] {Threei}  hmm?

[10:01] {Threei}  welcome mags

[10:02] {Threei}  CAT balance stop to under b/e

[10:02] {dino} emr sm l .50

[10:04] {Threei}  options at this point:

[10:04] {Threei}  take full profit on the next spike on both, HIG and CAT

[10:04] {Threei}  or 1/4 more out and leave them trade

[10:05] {Threei}  here is HIG spike

[10:05] {Threei}  1/4 more out .71

[10:05] {wulff} 1.0 on PCLN small

[10:05] {Threei}  stop to under .50

[10:06] {Onix} ty Vad, got some in HIG

[10:06] {Threei}  :)

[10:06] {vint} cat out .42

[10:07] {Threei}  out HIG in full .90

[10:07] {Threei}  +.50 for chrissake

[10:07] {dino} gj

[10:07] {Threei}  ty'

[10:07] {dawg} wtg Vad

[10:08] {Threei}  wow, top-ticked it

[10:08] {Threei}  CAT balance stop to under .30

[10:10] {Threei}  SCLN is strong for some reason

[10:11] {Threei}  noplay there, it's just a sentimental stock for me

[10:11] {Threei}  first I ever bought

[10:11] {Threei}  back in 1996

[10:11] {Threei}  it hunted down some ill mouse and cured it

[10:11] {dino} softie

[10:12] {Threei}  I was impressed, bought it and lost money

[10:12] {larisa} lol

[10:12] {larisa} sorry :)

[10:12] {Threei}  nah :)

[10:12] {Threei}  it's rather funny now to remember what a sucker I was

[10:14] {magoo} i nhavre like no quotes here

[10:15] {joeys} possible cup and handle developing on hig?

[10:15] {joeys} on 2 ion

[10:15] {dino} magoo has pissed off the trading gods

[10:15] {joeys} on 2 min

[10:17] {Threei}  would be much cleaner formation if continued up instead of these two red bars, joyes

[10:17] {joeys} talked too soon

[10:17] {Threei}  no, it was in a process of shaping up when you asked

[10:17] {Threei}  just got ruined

[10:18] {joeys} exactly

[10:19] {Threei}  OK, 3 for 3 so far

[10:19] {magoo} am gonna smash everything i have here

[10:19] {Threei}  dino, you maintaining safe distance from magoo?

[10:21] {magoo} ive tried every server

[10:21] {Threei}  quotes are fine here mags

[10:22] {larisa} designer handle on HIG's cup :)

[10:22] {magoo} i know i know..makes me even madder

[10:22] {Threei}  lol... that one creative designer

[10:23] {Threei}  what is he, working on tableware for aliens?

[10:24] {larisa} just bringing beautiful things into this ugly world

06[10:25] * Threei is going to watch Alien tonight to understand larisa's criteria of beauty

[10:25] {Threei}  RIMM's weakness is remarkable

[10:26] {ese} bstop QQQQ .61 full lot

[10:28] {Threei}  larisa facing her favorite alien:

[10:28] {Threei}  http://www.imdb.com/media/rm1331927296/tt0090605

[10:29] {larisa} Sigurni looks like me ? men..

[10:30] {Threei}  ok guys... if my feeling of what is going to happen today is right,

[10:31] {dino} lol

[10:31] {Threei}  we need to start looking for longs

[10:31] {Threei}  my usual candidate would be RIMM, but something is not right about it today

[10:32] {vint} it is downgraded, right?

[10:32] {magoo} im gonna do new download..maybe thats it

[10:32] {magoo} brb

[10:32] {nemo} yeah, that means buy

[10:33] {Threei}  yes vint

[10:33] {ese} long qqqq .61

[10:33] {wulff} long aapl .04

[10:34] {Threei} Long Setup:  ADBE  .21 if stays above .10

[10:34] {hawkfan4} HIG a 1 min cup/handle asc tri break over 12.90

[10:35] {Threei}  IMO... we are on a verge of a big 'ally starting

[10:36] {Threei}  the only p'oblem is possible shakeouts befo'e all hell breaks lose

[10:36] {ese} out qqqq .75

[10:37] {ese} +.24

[10:37] {dino} you stuttering?

[10:37] {dino} gj es

[10:38] {ese} definately stutering

[10:38] {ese} have so much on the go these days that the q's are about the only thing i can concentrate on

[10:39] {dino} i was talking to vad

[10:39] {Threei}  your yesterday's Qs entry was right on ese

[10:39] {cosmo} HIG needs 13

[10:39] {larisa} why do you think rally, threei? We broke all important supports, but did not test ultimate lows. Just a feeling ?

[10:39] {Threei}  no dino, I am just under strict p'ohibition by larisa to say 'ally

[10:39] {larisa} lol

[10:39] {ese} ya vad ...that worked really well

[10:39] {dino} what is w/ `

[10:40] {cosmo} la'isa .... you mean

[10:40] {dino} oh, no i get it, slow today

[10:40] {Threei}  'ight

[10:40] {Threei}  lol dino

[10:40] {wulff} you in adbe vad?

[10:40] {Threei}  not enough CEDC I guess

[10:40] {Threei}  it triggered... why wouldn't I

[10:40] {Threei}  1:1 btw

[10:41] {Threei}  half out

[10:41] {Threei}  larisa, I am not ingoring your question

[10:41] {Threei}  I am trying to put it in words

[10:41] {ese} man can't add...it's + .14 not 24 sheeesh......what was that that I said about concentration

[10:42] {Threei}  I noticed that ese... but didn't want to go into any math arguments, I always lose those

[10:42] {magoo} back

[10:42] {larisa} ty, i am just interested in your tought train

[10:43] {Threei}  I am flattered that you think I have thoughts... but somewhat disturbed that you considered them "tought"

[10:43] {larisa} sigh

[10:43] {magoo} download seems SEEMS to have worked

[10:44] {dino} alrighty then magoo, grab some brews now that trouble is past

[10:44] {dino} opps, it's only 10:45 check that

[10:44] {magoo} on it dino..u dont gotta ask twice

[10:44] {nemo} Magoo, you don't drink before lunch, do ya'?

[10:45] {Threei}  OK, I am not sure it will be comprehensible enough

[10:45] {magoo} its lunch somewhere in the world right now im sure

[10:45] {cosmo} its lunch everywhere...

[10:45] {nemo} Yeah, that's usually my answer/rationalization too

[10:45] {Threei}  we havce long weekend ahead,

[10:46] {nemo} whoa, that means three hangovers...oy

[10:46] {Threei}  with big piece of legislation hanging by the fingertips

[10:46] {ese} back long Q's .69

[10:46] {Threei}  normal reaction by normal people is,

[10:46] {Threei}  to get out and wait to see what happens

[10:47] {nemo} Did you see where congress put up pdf images of the legislation instead of html files so you can't search it?

[10:47] {Threei}  Did market ever reward normal thinking?

[10:47] {vint} vad- DRYS is crawling upwards

[10:47] {ese} 1/2 jst in case it retreats more

[10:47] {Threei}  I don't know vint... it's seriously damaged

[10:47] {ese} if not i'll be full lot at .76

[10:47] {magoo} thank god mkt doesnt or entire room would be f'ed lol

[10:48] {vint} k,got it

[10:48] {ese} retreating 

[10:48] {magoo} turn into all day project vint imo

[10:48] {Threei}  yesterday was quite indicative

[10:48] {ese} will add the other around .60 or so

[10:48] {magoo} it was the classic cramer indicator vad

[10:49] {Threei}  just when it seemed we are destined to drop couple hundred points, markety staged stunning rally

[10:49] {dino} rimm breakdown

[10:49] {Threei}  and I am still not sure that WH announcement was not just picked as a lame excuse

[10:50] {Threei}  in short, it feels to me, market has set up big trap for bears

[10:50] {Threei}  and it's ready to trigger

[10:50] {cosmo} t'igger

[10:51] {nemo} Pooh?

[10:51] {Threei}  co''ect

[10:51] {larisa} see, for me normal is : market will rally on stimulus, jump on it :) may be i am not normal myself . THank you for explanation

[10:51] {Threei}  when you say rally on stimulus,

[10:51] {Threei}  you mean after it's passed?

[10:51] {larisa} sure, and it will 995

[10:51] {larisa} 99%

[10:52] {Threei}  well... more market-like behavior would be to rally before the passage

[10:52] {cosmo} as you are coming on to it... i thought

[10:52] {Threei}  and drop after, trapping late buyers

[10:52] {Threei}  just as it did with TARP I

[10:53] {Threei}  that it doesn't happen complicates the picture

[10:53] {Threei}  too many factors in play... PR disaster with TARP II upset the normal way

[10:53] {Threei}  no full confidence in passage

[10:54] {Threei}  plus, serious doubts whether the bill itself is as beneficial as administration says it is

[10:54] {magoo} vad u said r word 10:51 bro..u gonna kill it

[10:55] {Threei}  btw, ADBE stop is trailed

[10:55] {Threei}  larisa said it first mags

[10:56] {Threei}  [10:51] {larisa} see, for me normal is : market will rally

[10:56] {magoo} two wrongs dont make a right

[10:56] {cujo} 3 lefts do...

[10:56] {Threei}  they don't???

[10:56] {magoo} but 2 lefts i guess would make a right

[10:56] {magoo} confusing

[10:56] {Threei}  my whole world is crashing...

[10:56] {cujo} 2 lefts turn you around....

[10:56] {larisa} dino, thanks for RIMM alert, scalped breakdown

[10:57] {larisa} vad, ty for CAT call earlier, scalped it too :)  { to be fair}

[10:57] {Threei}  welcome but don't worry... unfair is fine with me

[10:57] {larisa} good :)

[10:58] {cosmo} sounds fair

[10:58] {ese} q's full..... avg .72 and whatever that goofy fraction is

[10:58] {Threei}  world works thank to unfair

[10:58] {vint} Vad- how much is trail stop for ADBE?

[10:59] {Threei}  to under .20 to be strict... to .15 to give it a little room

[10:59] {vint} I've .10 = atr

[10:59] {vint} k, got it

[10:59] {Threei}  hmm?

[10:59] {Threei}  what does atr have to do with it?

[11:00] {Threei}  you set or trail stops based on it?

[11:00] {vint} actually yes..and i get stopped out frequently

[11:00] {Threei}  no way

[11:01] {Threei}  this is mistaken way to approach it

[11:01] {buyemsellem} what is ATR?

[11:01] {Threei}  average true range

[11:01] {vint} Vad- how do u approach TS?

[11:02] {Threei}  what's TS?

[11:02] {larisa} lol

[11:02] {vint} trail stop, sorry

[11:02] {ese} ack ackka dak...............dak ackka  ack       magic words...from bugs bunny 

[11:02] {Threei}  ok

[11:03] {ese} suppose to help my stock go up vad...

[11:03] {Threei}  http://www.realitytrader.com/blog/2007/04/stops-why-and-how.html

[11:03] {Threei}  http://www.realitytrader.com/blog/2007/05/stops-deeper-look.html

[11:03] {ese} it may or may not work.......

[11:04] {dino} rimm interesting es

[11:04] {ese} in trial stages with those workds

[11:04] {vint} thanks vad

[11:04] {ese} words

[11:04] {Threei}  those couple artuicles describe the concept

[11:04] {ese} tks will check that out

[11:05] {ese} what are ya thinkin dino

[11:07] {magoo} chridssakes trade..hitt rimm off dino .54 out .86

[11:07] {dino} think i was too low at .25\

[11:07] {ese} rimm would have made nice bounce dino

[11:07] {Threei}  nice

[11:07] {dino} now thinking retest of .50 area

[11:07] {magoo} u dedicate a blog yet?

[11:07] {magoo} too fast to call

[11:08] {magoo} less than 2 minutes

[11:10] {magoo} like aapl long

[11:10] {magoo} risky

[11:11] {wulff} allready there

[11:11] {magoo} needs mkt

[11:12] {wulff} im waiting

[11:12] {wulff} or it is the market

[11:14] {cosmo} HIG needs to hold 12.70    imho

[11:15] {magoo} mkt killed aapl

[11:15] {wulff} yup. 

[11:16] {ese} q's stopped .59

[11:16] {ese} -.12 approx

[11:21] {nemo} dcc Vad

[11:31] {dino} vz sm l .75

[11:32] {dino} atmi spike

[11:37] {magoo} feels like mkts powering up as vad mentioned

[11:37] {magoo} someone wake vad

[11:40] {dino} please don't

[11:40] {magoo} ya gotta kick the russian bear to wake him

[11:40] {wulff} scalped HIG

[11:42] {wulff} none too soon

[11:47] {Threei} Long Setup:  RIMM  .15 half lot if stays above 48

[11:55] {Threei}  yawn

[11:59] {larisa} 3.5 days weekend is better than 3, see you tuesday guys :) still think no rally, but hope we will get one :) 

[11:59] {Threei}  have a good one larisa

[11:59] {larisa} you too

[12:04] {magoo} bye larisa

[12:04] {Threei}  US HOUSE SPEAKER PELOSI: VIABILITY PLANS FOR AUTOMAKERS NEED TO ASSES LONG TERM VIABILITY AND FORECAST MARKET SIZE

[12:05] {nemo} "ASSES"

[12:05] {Threei}  don'tshoot the messenger...

[12:05] {nemo} just assking

[12:06] {Threei}  there is some incredibly irritating quality about that woman...

[12:06] {KSystems} no trading at all on monday?

[12:06] {magoo} agree

[12:06] {nemo} can't understand normal thinking

[12:07] {Threei}  no ks

[12:07] {KSystems} damn

[12:07] {magoo} cant spell either lol

[12:09] {magoo} rimm

[12:15] {magoo} in

[12:16] {Threei}  why not wait for pullback first... we have no serious strength anywhere yet

[12:23] {magoo} thought i saw strength actually

[12:24] {magoo} aapl was moving up

[12:24] {Threei}  just a little bounce within BBs at the moment... notthing earth9shuttering

[12:24] {Threei}  not really breakout conditions

[12:25] {nemo} still got the 'ally feeling, vad?

[12:25] {magoo} u are correct..just andswering yourv?

[12:25] {Threei}  yes... sneaky one

[12:25] {nemo} fits your nature

[12:25] {Threei}  plenty of shakeouts before real deal starts

[12:25] {Threei}  just as yesteday

[12:28] {dino}  pcln

[12:33] {pita} gotta go - happy hunting...

[12:33] {Threei}  have a good long weekend pita

[12:33] {magoo} man.whole room cuting out vad

[12:33] {magoo} bye pita

[12:44] {Threei}  CAT

[12:44] {Threei}  ISSUES CEO STATEMENT ON US STIMULUS PACKAGE, AGREES WILL BE BENEFICIAL TO ECONOMY, CAT PRODUCTS

[12:44] {Threei}  - CEO" "As I indicated yesterday, the President and I fundamentally agree that the U.S. stimulus package will be beneficial to the U.S. economy and should spur demand for the types of products made by Caterpillar. The passage of significant stimulus packages in the United States and abroad would help move the global economy toward a recovery, and if these packages are enacted quickly, they could stimulate demand for our products that would likely, over time, provide Caterpillar the opportunity to recall employees who have been laid off during this downturn. We know this won''t happen overnight, but I am confident that swift passage of the stimulus will lay the important groundwork to rebuild our workforce,"

[12:45] {magoo} 78 down..its time.....this mkt blows

[12:46] {Threei}  I am about to cry here... 4 calls, 4 wins

[12:46] {Threei}  what is it you expect?? :)

[12:46] {nemo} 4 calls......an hour

[12:46] {Threei}  suffering comes from expectations that are not grounded in reality

[12:47] {nemo} crissakes it's still lunchtime

[12:47] {nemo} speaking of RIMM?

[12:47] {ese} mags.....your my market indicator man!!!!!

[12:47] {ese} I always wait for your calls

[12:48] {ese} I'm selling everything right now indiscriminatly!!!!

06[12:49] * Threei slaps magoo around a bit with a large list of correct expectations

[12:50] {dino} magoo is trademarking that

[12:51] {nemo} you can't trademark it...you can copyright it though.

[12:52] {dino} tough crowd

[12:52] {nemo} Go to Cambridge if you want sympathy

[12:52] {Threei}  just heavy eyelids dino

[12:54] {Threei}  noises from Washington show that bill is going to be a real squeaker

[12:54] {Threei}  see CAT?

[13:09] {dino} gaparino complaining about gs meeting this week. guys' an idiot, like investment bankers are not supposed to have "private" meetings, invitation only

[13:10] {Threei}  nah... cameras must be everywhere

[13:10] {dino} getting the spitzer complex

[13:10] {Threei}  and mikes

[13:10] {Threei}  you sneeze - public has right to know

[13:10] {dino} have to get hank greenberg to set up the hooker sting

[13:12] {Threei}  US OFFICIAL: US MAY ADJUST DEVELOPMENT OF MISSILE SHIELD IF RUSSIA ASSISTS NEGOTIATIONS WITH IRAN

[13:14] {buyemsellem} hmm, what would the adjustment be...leave a window open for missiles from Russia?

[13:14] {dino} not armimng them, lol

[13:15] {Threei}  Kennedy is out, so bill is hanging on exat number of votes

[13:15] {Threei}  any single vote nay among those who are expected to vote yay, and it's failed

[13:16] {Threei}  this is what spookes the market, IMO

[13:17] {nemo} are they voting now?

[13:17] {Threei}  no, talking

[13:17] {Threei}  expected later today

[13:17] {cujo} they are always talking, just never saying much.

[13:17] {nemo} then the market would seem unlikely to do anything until the vote...caveats included

[13:18] {Threei}  enormous pressure on those 3 reps, plus some of dems are complaining they haven't had enough time to read it through

[13:18] {magoo} mkt spike

[13:18] {Threei}  ok, let's watch if this is it

[13:18] {cujo} something happening

[13:18] {Threei}  shallow pullback anfd another spike will be a good signal

[13:18] {Threei}  that's how it started yesterday

[13:21] {Threei}  FAS .16 long

[13:21] {Threei}  HIG .50 long

[13:22] {Threei}  just listing those triggers to keep in mind if this is the start of rally

[13:23] {Threei}  problem with these sneaky rallies is their sneakiness

[13:24] {Threei}  hard to tell whether it's for real or just another spike with immediate fallback

[13:24] {Threei}  that's why we missed it yesterday

[13:24] {Threei}  too many spikes got smacked down, how do you tell the one that continues

[13:25] {Threei}  but any new high now after pause has serious chance to repeat yesterday

[13:25] {ese} outta here for the weekend all...see ya monday

[13:25] {Threei}  take care ese

[13:25] {ese} see ya vad

[13:26] {Threei}  live from washington

[13:26] {Threei}  Pelosi

[13:27] {Threei}  here we go, next spike

[13:30] {Threei}  FAS half out

[13:30] {magoo} and those who missed yesterdays will not qwant to miss todays......causing more force

[13:30] {Threei}  right

[13:31] {Threei}  HIG stop under .40

[13:32] {nemo} no volume on this FAS run

[13:32] {Threei}  up iover 1:1

[13:33] {Threei}  just take half out and let it trade

[13:35] {nemo} re load if it gets to .15?

[13:35] {Threei}  support is .10

[13:35] {Threei}  if it drops there, pauses and starts strengthening, I'd rather buy there

[13:36] {Threei}  if loses .10, let it be

[13:36] {Threei}  HIG no worky

[13:39] {Threei}  now, sell half that you bought back near .10

[13:39] {Threei}  keep original half

[13:39] {nemo} ty

[13:40] {Threei}  stop is still under .10 for original one

[13:40] {Threei}  and you secured profit from two halves

[13:41] {Threei}  whatever happens, you can't lose on this trade anymore

[13:42] {nemo} as long as the machine doesn't crap out in the middle...that plane loooks.....

[13:42] {nemo} buy back at .10 or too many times to the well

[13:42] {Threei}  nah, this time is questionable

[13:42] {Threei}  I wouldn't

[13:42] {nemo} volume really drying up

[13:43] {Threei}  major reason is,

[13:43] {Threei}  market does not behave as it did yesterday after first two steps up

[13:43] {Threei}  yesetrday third and all consuenquent ones followed wirth blistering speed

[13:44] {Threei}  this pause is way too long,

[13:44] {Threei}  which will give participants looking for repeat a pause

[13:44] {nemo} oh well

[13:44] {Threei}  if it resumes, you still have your original half

[13:44] {Threei}  and that's what we kept it for

[13:44] {Threei}  but no need to increase risk

[13:44] {Threei}  WHITE HOUSE: PRES OBAMA TO MAKE ANNOUNCEMENT ON HOME FORECLOSURES WEDNESDAY, FEB 18

[13:45] {Threei}  here we go

[13:45] {Threei}  that's next catalyst

[13:45] {Threei}  frikin HIG

[13:45] {Threei}  shakeout

[13:46] {wulff} still in

[13:46] {Threei}  1/4 more out

[13:46] {Threei}  above .30

[13:47] {Threei}  stop to b/e

[13:48] {Threei}  and let it trade

[13:48] {cujo} s RIMM .96

[13:49] {Threei}  offer last portion FAS somewhere between .40 and .50

[13:49] {cujo} stpd -.09

[13:49] {Threei}  I am out .44

[13:50] {Threei}  now, don't tell me it wasn't payed to perfection

[13:50] {nemo} Magoo?

[13:50] {vint} out .43

06[13:50] * Threei slaps magoo around a bit with a large roll of cash

[13:51] {Threei}  I wish HIG didn't shake us out before working

[13:51] {Threei}  but heck

[13:51] {cujo} y

[13:51] {cujo} same here... :(

[13:51] {Threei}  10 cents stop on HIG, over 30 cents profit on FAS

[13:52] {vint} vad- ADBE breaking up?

[13:52] {Threei}  ugh

[13:52] {dino} 100 pts roughly in what, 5 minutes

[13:53] {Threei}  straight line from under 20.90

[13:53] {Threei}  need pullback or at least consolidation

[13:53] {wulff} chose Hig instead of FAs 

[13:53] {vint} got it,thx

[13:53] {Threei}  why chose?

[13:53] {Threei}  both were in play

[13:53] {cujo} i just missed FAS

[13:54] {Threei}  it gave a lot of time

[13:54] {wulff} could only concentrate on one

[13:54] {cujo} didn't want to chase it... 

[13:54] {Threei}  it even returned back

[13:54] {Threei}  twice

[13:55] {wulff} smart ,not smart---learned, learning

[13:56] {Threei}  well... here is a lesson to learn: smart ain't got nothing to do with it

[13:56] {Threei}  focused and disciplined does

[13:56] {wulff} still +.18 in HIG

[13:57] {wulff} $ is $

[13:57] {Threei}  certainly

[13:59] {wulff} my lot of HIG was broken into 13 parts!

[13:59] {Threei}  lol

[13:59] {wulff} one was 2 shares

[13:59] {Threei}  some big spender was buying from you

[14:03] {Threei}  magoo, are you awake?

[14:06] {Threei}  LOL

[14:06] {Threei}  White House

[14:06] {Threei}  - Warns against 'unreasonable expectations' on housing plan

[14:06] {Threei}  - no details issued at this time

[14:06] {Threei}  they learned their lesson eh

[14:06] {nemo} well that explains that drop in fas

[14:07] {Threei}  yup

[14:12] {dino} Dino's Office Announcement

[14:12] {dino} - Perhaps things will get better.

[14:12] {dino} Market spikes 100 pts

[14:15] {dino} market drop attributed to

[14:15] {dino} [12:45] {magoo} 78 down..its time.....this mkt blows

[14:15] {Threei}  lol

[14:20] {Threei}  US HOUSE OF REPRESENTATIVES PASSES THE COMPROMISE STIMULUS BILL, AS EXPECTED

[14:21] {Threei}  Time still remaining on vote

[14:22] {Threei}  - Vote as it stands is 243-180

[14:25] {magoo} mkt still red..still blows imo

06[14:25] * Threei removes himself in a very very remote monastery

[14:25] {dino} the bill blows

[14:25] {Threei}  (as of now no republicans have voted for stimulus, 7 Dems have voted against the bill)

[14:26] {Threei}  Seante is going to vote later in the evening

[14:32] {Threei}  IMF WARNS DEVELOPING MARKETS LACK THE RESOURCES TO BAIL OUT FINANCIAL SECTOR

[14:33] {Threei}  what resources

[14:33] {Threei}  don't they have printing presses like everybody else

[14:33] {patience} maybe they have honest politicians?

[14:34] {Threei}  now, that's a thought I need 10 minutes to recover from

[14:34] {patience} kidding, just kidding

[14:34] {Threei}  I mean, laughter than sends you on the floor in convulsion

[14:34] {wulff} anyone dare hold longs over the  weekend?

[14:34] {Threei}  why?

[14:35] {wulff} cheap thrills

[14:35] {nemo} He wants an ulcer

[14:35] {Threei}  could be not so cheap, lol

[14:35] {Threei}  btw, same goes for short

[14:36] {magoo} hold ovrer weekend..u got a death wish? better luck picking bar fight w/charles bronson

[14:36] {Threei}  or trying to take beer from magoo or bacon from me

[14:38] {patience} i am a confirmed idiot.  been buying this week and will next week

[14:38] {patience} swing trades though

[14:38] {Threei}  buying what?

[14:38] {patience} mostly commodities

[14:39] {magoo} if yu can log into proper mirc room u got this idiot beat

[14:40] {Threei}  RIMM picking up steam

[14:40] {magoo} not in tho

[14:40] {magoo} were entry

[14:45] {magoo} were=wheres

[14:46] {magoo} tricky last hour...will we go nuts like yesterday or sell off since 3 day weekend..

[14:46] {cujo} in .27 rimm

[14:47] {cujo} out +.10

[14:47] {Threei}  BAC

[14:47] {Threei}  REPORTEDLY SPLITS CORPORATE AND INVESTMENT BANKS - UNCONFIRMED REPORT

[14:49] {wulff} vad do you make more money in conjunction with market strength or doesn't matter?

[14:49] {wulff} in general

[14:49] {Threei}  well, bull markets are easier and generally more fun

[14:49] {wulff} course

[14:50] {Threei}  but today is anything but bull, and we are 5 for 6

[14:53] {wulff} seem to have done well since at least november

[14:54] {wulff} shorts are nervous

[14:55] {Threei}  not that longs are calm and confident... :)

[14:56] {wulff} just a few weeks of the 90's would be nice

[14:56] {Threei}  it's coming

[14:57] {wulff} figure if you can make $ here, then...its got to be easier

[14:57] {Threei}  totally

[14:59] {Threei}  this market is tremendous learning opportunity

[14:59] {Threei}  you can trade this, you can trade anything

[14:59] {nemo} great for changing your hair color too

[15:00] {Threei}  nemo = magoo's twin I suspect {G}

[15:00] {nemo} No...I saw pictures of Magoo

[15:00] {Threei}  seriously guys, what kind of expectations do you have?

[15:01] {Threei}  let me suggest you mental experiement

[15:01] {nemo} NONE

[15:01] {Threei}  go over today's calls,

[15:01] {magoo} i expect to make big bux everyday

[15:01] {nemo} you get big bucks in the fall, mags.

[15:01] {Threei}  imagine you took each and every of them and emulated my exits to the cent

[15:01] {Threei}  took 1000 shares on each

[15:01] {Threei}  how much would you be up today?

[15:02] {nemo} Lunch Money at The Four Seasons?

[15:03] {nemo} don't forget the double in FAS

[15:08] {Threei}  HIG

[15:08] {Threei}  TICKING HIGHER ON TAKEOVER CHATTER CIRCULATING

[15:08] {Threei}  - Allianz rumored as potential acquire

[15:10] {dptl} have a good long weekend all....see ya tue....:)

[15:10] {Threei}  take care dpo, have a good weekend

[15:10] {magoo} bye dp

[15:11] {dptl} oh...and happy Valentines......lol

[15:11] {Threei}  ummm

06[15:12] * Threei slaps dptl around a bit with a large bouqet of roses 0 each with nice spiky thorn

[15:12] {dptl} lol

[15:13] {Threei}  FAS is coming into bounce scalp zone

[15:13] {nemo} half lot or full

[15:13] {Threei}  from under 8 desirably

[15:13] {Threei}  full

[15:14] {Threei}  want to see it diving under 8,

[15:14] {Threei}  pausing,. not losing 8.90

[15:14] {Threei}  consolidating a little

[15:14] {Threei}  then breaking 8 again

[15:14] {Threei}  not losing 7.90 that was

[15:18] {vint} looks like we missed fas

[15:18] {Threei}  yup

[15:20] {pita} still valid on dive below 8?

[15:21] {Threei}  yes, not much changed so far

[15:22] {wulff} ok corral market

[15:28] {wulff} good example of capitulation in PCLN

[15:34] {Threei}  feels like pullback and then one last thrust upward

[15:34] {Threei}  let's try to catch it

[15:35] {Threei}  FAS around .15 - .20, RIMM around .50

[15:36] {Threei}  SEN MAJORITY LEADER REID: SENATE VOTE ON STIMULUS TO BEGIN AT 5:30PMET

[15:37] {Threei}  took .21 FAS

[15:38] {Threei}  RIMM is not pulling far

[15:39] {cujo} in .21 as well

[15:40] {Threei}  tough fight here

[15:40] {Threei}  stop under .10

[15:41] {cujo} scalped 1/2 at .27

[15:41] {cujo} waiting on 2nd half

[15:41] {Threei}  good idea

[15:42] {Threei}  out half too

[15:43] {Threei}  stop to .15

[15:43] {cujo} k

[15:43] {pita} courage lacking - got small piece - TY

[15:44] {Threei}  sure

[15:48] {Threei}  DEALER SAYS CHRYSLER HAS HIT ITS FEB ORDER GOAL

[15:48] {cujo} some sellinh in RIG

[15:48] {Threei}  one dealer sold one car I guess?

[15:51] {Threei}  so, let's meet tomorrow after bill vote and trade something?

[15:51] {Threei}  baseball cards?

[15:52] {Threei}  US AUTO PARTS SUPPLIERS HAVE REPORTEDLY SUBMITTED THEIR REQUEST TO THE US TREASURY FOR AID

[15:54] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[15:57] {Threei}  10 min more, we would get once more scalp out of FAS

[15:57] {nemo} Reality says you don't have 10 minutes :)

[15:57] {Threei}  nope

[15:57] {nemo} Vodka calling....

[15:58] {Threei}  CEDC you mean

[15:58] {magoo} answetr

[15:58] {nemo} DIAGIO

[15:58] {Threei}  overall, market says:

[15:58] {pita} about to get dive under 8

[15:58] {Threei}  I don't think your bill will pass... or I don't think it's a good bill

[15:58] {Threei}  or both

[15:58] {dino} out vz -.09

[15:59] {Threei}  wow

[15:59] {wulff} later all

[15:59] {Threei}  nice dump

[15:59] {Threei}  ok guys

[15:59] {Threei}  thank you all

[16:00] {cujo} have a good weekend. 

[16:00] {nemo} buhbye!!!

[16:00] {Threei}  have a good relaaxing long weekend,

[16:00] {pita} good wknd all

[16:00] {Threei}  see you all on Tuesday,

[16:00] {magoo} ty vad

[16:00] {Threei}  and if bill passes

[16:00] {Threei}  let's greet each other as comprades on Tuesday morning

[16:00] {nemo} edengi bili

[16:00] {Threei}  "take care comrade magoo" - has a nice ring to it, don';t you think

[16:01] {magoo} indeed comrade vad

[16:01] {magoo} yours rhimes

06[16:01] * Threei slaps magoo around a bit with a large Manifesto of Communist Party

06[16:01] * nemo slaps magoo around with Das Kapital

[16:01] {magoo} oy..required reading over weekend

[16:02] {dawg} ty Vad adn all

[16:03] {dino} not a good close

[16:03] {patience} shopping time in the markets dino