Feb 17 2009

CAT and HIG shorts yielded nice sizeable profits in early trading. A few nice scalps with just one small stop helped make the day as close to perfect as it gets in this miserable market.

Session Time: Tue Feb 17 00:00:00 2009

[07:40] {nemo} Wie geht's heute Herrn K?

[07:40] {nemo} Hi LaserD

[08:15] {nemo} Anbody here?

[08:16] {Threei}  no

[08:16] {Threei}  but, good morning

[08:16] {nemo} Didn't think so

[08:16] {larisa} good morning :)

[08:16] {Threei}  "ggod" is questionable too, eh?

[08:16] {Threei}  larisa :)

[08:17] {larisa} threei :)

[08:22] {cujo} good morning

[08:22] {nemo} dog :)

[08:32] {Threei}  *FEB EMPIRE MANUFACTURING: -34.65 V -23.75E

[08:32] {Threei}  cujo :)

[08:32] {cujo} morning Vad

[08:32] {nemo} ouch!

[08:37] {nemo} We should be able to pick up FAS for $2 and change some time this week :)

[08:37] {Threei}  cool

[08:39] {patience} good morning rt  :)     gold jumping nicely this morning

[08:40] {Threei}  patience :)

[08:41] {magoo} morning

[08:41] {Threei}  magoo :)

[08:41] {nemo} magus :)

[08:44] {magoo} end of world vad?

[08:44] {Onix} gm all

[08:45] {cosmo} that's on friday, magoo

[08:45] {cosmo} MELA

[08:47] {Threei}  onix, cosmo :)

[08:47] {Threei}  sure mags

[08:49] {_livia} good morning

[08:49] {Threei}  livia :)

[08:49] {pita} gm everyone!

[08:50] {Threei}  pita :)

[08:55] {tomg} good morning everyone 

[08:55] {Threei}  tom :)

[09:01] {fernp} Hi everybody

[09:01] {Threei}  fern :)

[09:06] {dino} gm all

[09:07] {Threei}  dino :)

[09:07] {nemo} dino :)

[09:07] {dino} ;)

[09:07] {magoo} vad..news RIMM AAPL GS?

[09:07] {Threei}  ??

[09:07] {Threei}  why would any of them need news?

[09:08] {nemo} any thoughts, percolating, distilling, brewing, photosynthesizing  there Vad?

[09:08] {Threei}  thoughts?

[09:08] {Threei}  kidding?

[09:08] {nemo} well, I thought using the terms distilling and brewing might motivate you

[09:09] {cosmo} its the thought that coubts....

[09:09] {cosmo} counts

[09:09] {Threei}  coubts is right

[09:09] {cosmo} hmm  ...yea

[09:10] {Threei}  FAS under 7

[09:10] {Threei}  world ends dino

[09:12] {dino} indeed (again)

[09:12] {dino} as they say...it's a good day to die, and the day's not over yet

[09:14] {dptl} good morning all

[09:15] {Threei}  dp :)

[09:20] {Threei}  okay guys

[09:20] {Threei}  this week is promising to be very nervous

[09:20] {Threei}  with a lot of news coming from high above

[09:20] {Threei}  and market digesting them

[09:20] {dino} plus expirationb

[09:20] {Threei}  we have stimulus bill, financial help, automakers,

[09:21] {Threei}  housing help coming

[09:21] {Threei}  a lot of details will matter

[09:21] {Threei}  so far market doesn't like any of it

[09:21] {Threei}  but it's going to bery news-sensitive

[09:21] {Threei}  What we need to do in this situaation is get back to our Sept-Oct trading

[09:22] {Threei}  very careful picky, defensive

[09:22] {cosmo} watch CAT for indications?

[09:22] {Threei}  not overtrading

[09:22] {Threei}  staying picky and nimble

[09:22] {Threei}  don't jump on selloffs too soon,

[09:23] {Threei}  weak bounces are likely to be sold into

[09:23] {Threei}  better miss something that jump on mediocre trades

[09:24] {dino} cat may be down off of de downgrade, can't get financing lined up for buyers cosmo

[09:24] {Threei}  CAT is near major support at 30,

[09:24] {cosmo} CAT for sale?

[09:24] {Threei}  and looks like breakdown is likely

[09:25] {Threei}  let's see if it consolidates close enough to 30 for a nice tight stop, and short break

[09:26] {cosmo} if the 'buy american' sentiment picks up ....

[09:29] {Threei}  if gold strength contines, GG will be interesting

[09:29] {Threei}  tough one to time but will see

[09:30] {Threei}  CAT is a bit too volatile for now

[09:31] {pita} FAS below 7 still good call?

[09:31] {pita} sinking fast

[09:31] {Threei}  for what, long?

[09:31] {Threei}  no

[09:31] {Threei}  let it sink

[09:32] {Threei}  CAT stablized a bit

[09:32] {Threei}  let's see if it stays under .20 - .25

[09:33] {Threei}  half lot short on 30 breakdown

[09:34] {Threei}  see that big bid by ARCA at .09?

[09:34] {Threei}  possible aggressive entry if it gets hit

[09:35] {Threei}  with stop above .25

[09:37] {Threei}  needs to lose 30 now

[09:38] {Threei}  if does, there is a lot of downside

[09:41] {Threei} Short Setup: HIG  .25 if holding below .40

[09:41] {nemo} half lot?

[09:42] {Threei}  with 15-20 cents stop...

[09:42] {dino} 7500 strike in works for dji

[09:43] {magoo} agree dino

[09:43] {magoo} in hig

[09:43] {Threei}  HIG 1:1, half out, scalpers take profit

[09:44] {magoo} out GihTY

[09:44] {magoo} 'hIG

[09:44] {magoo} sigh

[09:44] {magoo} HIG

[09:45] {Threei}  stop to above .30 for the balance

[09:45] {nemo} Battle Royale at CAT

[09:46] {Threei}  let's see how many lives CAT has

[09:46] {Threei}  bad pun...

[09:46] {nemo} don't quit your day job

[09:47] {Threei}  Seinfield can sleep well

[09:47] {magoo} dow-226

[09:47] {Threei}  HIG 1:2, 1/4 more out

[09:48] {Threei}  stop to .15

[09:48] {Threei}  come on CAT, break down that wall

[09:48] {Threei}  Attention:  CAT  cover half

[09:48] {Threei}  stop to .15

[09:50] {fernp} out. ty vad

[09:50] {Threei}  fern :)

[09:50] {Threei}  scalpers make up your mind here,

[09:50] {Threei}  the rest - look for serious dump,

[09:50] {Threei}  quite possibly under 29.50,

[09:51] {magoo} waiting .58 here'

[09:51] {Threei}  closer to 29 is not out of question

[09:51] {dino} 7500s

[09:51] {larisa} out CAT, beautiful call

[09:52] {magoo} out .70 TY 

[09:52] {Threei}  welcome guys

[09:52] {cujo} great calls Vad

[09:52] {Threei}  yeah, I have my moments

[09:52] {nemo} Your moments are hours

[09:52] {cujo} HIG +.30

[09:52] {magoo} - 275

[09:52] {nemo} How's the arm?

[09:52] {Threei}  only when senility hits and I forget to look at time

[09:52] {magoo} im speaker of obvious today ok?

[09:53] {cujo} CAT +.25

[09:53] {Threei}  sorry mags, that's my prerogative

[09:53] {nemo} Geez...Mags even picked up some of your syntax

[09:53] {magoo} thought id give u a break

[09:53] {Threei}  I am touched

[09:54] {cosmo} CAT 29.60 = recent daily low 

[09:54] {Threei}  my stop is trailed to above 30 on CAT

[09:54] {dino} gj

[09:55] {Threei}  still looking for major reward on it, so trying to give it breathing room

[09:55] {magoo} if bounces ii may reenter

[09:55] {Threei}  29.60 is its low from 02/02

[09:56] {Threei}  HIG stop to above 11 for the balance

[09:58] {Threei}  .50 target is hit on CAT, and bounces are still pitiful

[09:59] {Threei}  I guess I'll trail to above .90

[09:59] {Threei}  and if loses .50 - to above .80

[10:01] {Threei}  (US) WHITE HOUSE: STATES THAT OBAMA TO RELEASE BUDGET ON FEB 26

[10:02] {Threei}  F

[10:02] {Threei}  GETS $55M IN REFUNDABLE TAX CREDITS FROM THE STATE OF MICHIGAN FOR FUTURE ELECTRIC VEHICLES

[10:02] {Threei}  good boy CAT

[10:02] {Threei}  girl?

[10:03] {Threei}  covered 1/4 more CAT +.50

[10:03] {Threei}  stop to above .80

[10:03] {Threei}  letting it trade

[10:03] {ese} morning...slept in.....

[10:04] {cosmo} CAT looks so....'shovel ready'

[10:04] {Threei}  ese :)

[10:04] {Threei}  lol cosmo

[10:06] {magoo} 2 beauties vad

[10:06] {Threei}  stop to above .50, and getting ready to cover on the next dive

[10:06] {ese} bstop CTSH .01 1/2

[10:07] {ese} long

[10:09] {cujo} Great trade Vad...  

[10:09] {Threei}  stop to above .40

[10:09] {ese} stop .85

[10:09] {Threei}  I have 90 cents here... am I getting too greedy?

[10:10] {cujo} nah

[10:17] {Threei}  HIG new low

[10:18] {Threei}  held 11 resistance like charm

[10:18] {ese} stopped .85 -.16   got no market help

[10:20] {dino}  bac gap 4.90 filled

[10:22] {Threei}  HIG stop to .85

[10:23] {Threei}  CAT is not very clear here

[10:23] {Threei}  haven;'t given me a reason to trail top tighter than .40

[10:23] {Threei}  and doesn't make new lows

[10:24] {Threei}  ok

[10:24] {Threei}  out

[10:24] {Threei}  .41

[10:24] {Threei}  +.67 or something like that

[10:27] {Threei}  HIG new low

[10:27] {Threei}  stop to above .65

[10:29] {magoo} CAT may be a nice bouncer vad?

[10:29] {ese} ouuuu got in MDRX .19 1/2

[10:29] {Threei}  still looks pathetic mags

[10:30] {Threei}  OK, time to stop being too greedy I guess

[10:30] {Threei}  out HIG last portion

[10:30] {Threei}  +.70 or so

[10:31] {magoo} nice

[10:31] {magoo} id help u calculate but still working on my exit 

[10:32] {ese} out MDRX  .33 +.14

[10:32] {ese} quick hit

[10:32] {Threei}  nothing's wrong with that

[10:34] {ese} nope not at all

[10:34] {Threei}  I don't have clear feel for the market here, waiting for something to shape up

[10:35] {ese} mdrx did what i expected ctsh to do

[10:36] {ese} was watching RSI on ctsh thought it was strong enough 

[10:36] {ese} is that because MDRX was trading a little thinner vad?

[10:37] {ese} certainly more risk with MDRX

[10:41] {Threei}  hard to tell ese

[10:41] {Threei}  not evverything has a clear reason

[10:42] {Threei}  it's just one worked another didn't

[10:44] {Threei}  CBAK

[10:44] {Threei}  REAFFIRMS FY09 R$275-300M V $270ME

[10:44] {ese} hmmm.....

[10:45] {Threei}  market took a very long breath

[10:45] {Threei}  looks a bit more stable now,

[10:45] {Threei}  want to see if it's a fake or trend changes

[10:46] {nemo}  {@Alert} Threei  want to see if it's a fake or trend #discussionsges

[10:47] {dino} rimm sm l .10

[10:48] {Threei}  HIG is knocking on .70

[10:49] {Threei}  don't chase it,

[10:49] {Threei}  rather look for pullback in mid .60

[10:49] {Threei}  and try to get it with tight stop under .60

[10:49] {Threei}  just a scalp idea

[10:55] {Threei}  took .66, not looking for much though

[10:56] {Threei}  out .76

[10:57] {cujo} out .74

[10:57] {cujo} thankw

[10:57] {cujo} thanks

[10:57] {Threei}  welcome

[10:57] {Threei}  uhhu... now it goes :)

[10:57] {cujo} murphy's law...

[10:57] {Threei}  whatever, it's hunt and peck

[10:58] {Threei}  with two sizeable trades eaerlier, I am in capital preservation mode

[10:58] {nemo} The trading gods were very good the first hour

[10:58] {Threei}  taking surest profits,

[10:58] {Threei}  waiting for something more clear,

[10:58] {Threei}  ignoring iffy trades

[10:59] {Threei}  that's what got us through the fall with nice profits, and market is pretty much the same as we had back then

[11:01] {Threei}  DRYS gives new meaning to the word UGLY

[11:06] {dino} gild sm l .90

[11:06] {cujo} any thoughts on RIMM here Vad?

[11:06] {Threei}  chart is upward looking

[11:06] {Threei}  help by market is a big IF

[11:07] {cujo} thanks.

[11:07] {Threei}  if we get better market action, .35 is RIMM long trigger

[11:08] {Threei}  wulff... mix of good/bad news for you

[11:08] {wulff} and

[11:08] {Threei}  you finally woke up, which is good...

[11:09] {Threei}  missed three nice trades, which is bad

[11:09] {wulff} figured

[11:09] {wulff} unavoidable work obligation

[11:09] {Threei}  present them with bill for missed profits?

[11:10] {cujo} hate it when work gets in the way of trading :)

[11:10] {wulff} full on rimm if triggers?

[11:11] {Threei}  I am not jazzed about this trade

[11:12] {Threei}  just answered question... doubt I'd make a call

[11:12] {dino} change the station then 3i

[11:12] {Threei}  if it consolidates tighter, let's say above .20, and market shows real strength, maybe then

[11:12] {dino} it wants 46ish

[11:19] {cujo} out RIMM +.10

[11:20] {Threei}  why not

[11:20] {Threei}  RIMM actually looks not too bad

[11:20] {cujo} yeah got in at .34 out .44

[11:20] {Threei}  just don't want to get stuck in anything during this nausious market

[11:20] {dino} gj, 

[11:21] {cujo} thanks dino

[11:22] {wulff} in POT .90

[11:24] {dino} still in

[11:26] {wulff} stopped

[11:28] {KSystems} elepet?

[11:28] {KSystems} dcc please :)

[11:29] {Threei}  impressive resilience RIMM

[11:31] {dino} lol, -6% too

[11:31] {Threei}  I mean how it's holding while market downticks

[11:31] {dino} i know, just irinic

[11:31] {dino} ironic

[11:31] {dino} a year in a day, again

[11:32] {Threei}  yeah, perception divergence between day traders and those who see final numbers at the end of the day :)

[11:32] {wulff} palm too

[11:32] {Threei}  saw it many times...

[11:32] {Threei}  market opens -500, moves up to -100,

[11:32] {Threei}  day trader says, strong bullish day

[11:32] {Threei}  the rest of pupulation says red again

[11:33] {Threei}  NASDAQ now is lower than where it was when RIMM tested .30 - .35 areas,

[11:33] {Threei}  and RIMM is holding above it

[11:34] {cujo} CAT pretty close to day low.  Any short set up?

[11:34] {Threei}  chart wise, yes

[11:35] {Threei}  I am just a bit hesitatnt to go to the same well too many times

[11:35] {cujo} yeah, shorting very small lot

[11:38] {magoo} u  would ,make a good buck vad..cautious...not patternable

[11:38] {magoo} spooked easy

[11:38] {Threei}  lol

[11:38] {magoo} quick to bolt lol

[11:42] {Threei}  I gave it some thoughts magoo

[11:42] {Threei}  (which in and of itself is not a small feat for me)

[11:42] {Threei}  and decided, it's not me... it's market that is a good fit to your description,

[11:43] {Threei}  and I am simply emulating the market

[11:43] {Threei}  being the water so to speak

[11:43] {nemo} mizo no kokuro

[11:44] {Threei}  great... another language to learn?

[11:44] {nemo} mind like the surface of calm water

[11:44] {Threei}  I could count till 10 in Japanese when practiced karate

[11:44] {Threei}  that's all the xntent of my language

[11:45] {nemo} hai

[11:45] {Threei}  oh, and I know word satori

[11:45] {nemo} the Sake?

[11:46] {Threei}  lol

[11:46] {dino} mela

[11:47] {pita} day job calling....  catch you all later I hope.

[11:47] {Threei}  take care pita

[11:47] {larisa} 10 serifu ? amari.

[11:47] {Threei}  there... and I though larisa knew subaru only

[11:48] {Threei}  PALM...

[11:48] {Threei}  I like this big pullback on daily

[11:48] {Threei}  I just hate the idea of going long in this market

[11:49] {Threei}  not hating it altogether, just for any extended period of time... and PALM is not a fast trader

[11:50] {Threei}  stay patient guys

[11:50] {Threei}  I know it's not easy

[11:51] {nemo} I gotta' go check on the horses anyway

[11:51] {Threei}  but that's the major skill to deploy in this kind of market

[11:51] {Threei}  ambush trading

[11:51] {Threei}  sit in the trenches and wait for the weak anthelope to walk by

[11:52] {Threei}  SEC IS SEEKING A TEMPORARY RESTRAINING ORDER AGAINST STANFORD FINANCIAL GROUP FOR ALLEGED FRAUD, MISREPRESENTING SAFETY OF UNISURED CDS

[11:52] {Threei}  - SEC says it can not account for $8B in assets in Stanford's Antiqua bank - NYT

[11:52] {Threei}  - Note that Stanford Financial Group is a privately held group of financial services companies. The firm's core businesses are private wealth management and investment banking for institutions and emerging growth companies.

[11:52] {Threei}  - The firm confirmed on Friday that it has been under investigation by the SEC and the Financial Industry Regulatory Authority since January.

[11:53] {cujo} GS day lows

[11:53] {Threei}  CAT starts working for you cujo

[11:53] {nemo} I like sentry work :)

[11:53] {nemo} SLW just popped

[11:53] {cujo} yup

[11:53] {cujo} took a while

[11:54] {cujo} out for scalp though....

[11:54] {Threei}  that's fine

[11:54] {Threei}  we got big trade out of it

[11:54] {Threei}  no need to be a hero now

[11:55] {cujo} yeah, bonus play

[11:55] {Threei}  exactly, icing on a cake

[11:55] {dino} bear markets we wait

[12:01] {Threei}  CYTX interesting strength

[12:02] {Threei}  moves on stem cells hype

[12:10] {Threei}  CAT starts looking like there is more in the store

[12:11] {Threei}  this slooooow slide

[12:14] {larisa} at these levels I want to wait for vol and fast selling to go for a bounce, you still think a lot of downside ?

[12:15] {Threei}  hard to tell, we are in time period when market often starts those brief moves up adn down

[12:17] {Threei}  overall, we haven't had any meaningful movement for what, couple hours now?

[12:18] {wulff} you like cytx now?

[12:18] {Threei}  I'd like it much more closer to 4

[12:19] {Threei}  CYTX is typical pre-news play

[12:19] {Threei}  executive order in works about stem cells research funding,

[12:19] {Threei}  so the names in the field get bought in dvance

[12:20] {Threei}  and will be dumped into te hands os fresh crop of buyers when actual news is out

[12:20] {Threei}  Since no one knows when it's going to happen, it's just us traders scalping each other for now

[12:21] {Threei}  Buy too high, and you may have to hold it at loss, waiting for news to hit

[12:21] {Threei}  only to get out flat at best

[12:21] {wulff} there is other fish to fry, as we say

[12:21] {Threei}  take a look at daily, see when it started its upward march?

[12:22] {Threei}  mid November... tells you something? :)

[12:24] {larisa} something in japanese, not sure what it is

[12:24] {nemo} larisa, what are you talking about?

[12:25] {larisa} nobody answered vad, i felt sorry for him, made funny joke, nobody understood, vad feels sorry for me now :) 

[12:26] {Threei}  not really, I aam not that sensitive

06[12:26] * larisa slaps Threei around a bit with a large trout

[12:26] {nemo} Yeah, just ask his wife

[12:26] {Threei}  sorry about that {G}

[12:35] {cujo} going for a run.  Back in a few.

[12:37] {Threei}  DRYS

[12:37] {Threei}  NORDEA BANK EXEC: DRYS IS MOVING IN THE RIGHT DIRECTION, DOING WELL FOLLOWING RENEGOTIATION OF LOAN - INTERVIEW

[12:37] {Threei}  - Reminder: Back on 2/09 DRYS signed a preliminary agreement with Nordea Bank for a covenant waiver on its $800M prime lead facility

[12:37] {hawkfan4} so...down is the right direction?

[12:37] {Threei}  lol, that was my thought as well

[12:37] {hawkfan4} :)

[12:38] {Threei}  if they consider it right direction and push further...

[12:38] {wulff} stepping out for a while, feel free to rally while I am gone

[12:38] {Threei}  ok... let's find a trade, quick

[12:38] {Threei}  while cujo and wulff are out

[12:40] {dino}     spike

[12:44] {dino} short lived

[12:45] {Threei}  yeah but some life seems to appear in the market

[12:48] {Threei}  watch RIMM

[12:48] {Threei}  if we get fast spike in the market, RIMM break of .50 should give a trade

[12:52] {Threei}  feels like little spike is coming

[12:55] {Threei}  here it is

[12:55] {magoo} in aggress .41

[12:55] {Threei}  lol, me too

[12:55] {magoo} scary

[12:56] {Threei}  not really, it held above .35 before tagging .40 break

[12:56] {Threei}  so worst case scenario your stop is under .30

[12:56] {Threei}  unless you bought 5K shares, what's 12 cents stop

[12:56] {magoo} i meant us thinking alike

[12:56] {Threei}  oh

[12:56] {Threei}  yeah, disturbing

[12:58] {dino} out rimm .50, +.40

[12:58] {Threei}  nice

[12:58] {Threei}  lol, look at this:

[12:58] {Threei}  SLE CEO: FIGHTING UNEXPECTED HEADWINDS

[12:58] {Threei}  unexpected??

[12:58] {Threei}  where was he last year or so?

[12:58] {larisa} liked your entry dino, perfect support with tight stop

[12:59] {Threei}  yup, thing of beauty

[12:59] {magoo} yeah he nailed it

[13:00] {Threei}  FEB NAHB HOUSING MARKET INDEX: 9 V 8E

[13:00] {Threei}  wow... silver lining?

[13:01] {dino} ty larisa

[13:03] {nemo} Coax RIMM, would ya' Vad?

[13:04] {Threei}  with .50 entry? or .40?

[13:04] {nemo} latter

[13:04] {nemo} err...former

[13:04] {Threei}  I'd keep stop under .35

[13:04] {magoo} i scalped out

[13:04] {nemo} yep.

[13:04] {Threei}  with .40, it was already above 1:1

[13:04] {magoo} didnt like mkt pullbk

[13:05] {KSystems} wb elepet

[13:05] {KSystems} can you spare a minute for dcc?

[13:05] {Threei}  market new wave of seasickness

[13:05] {magoo} careful here

[13:05] {nemo} stopped -.14 

[13:07] {Threei}  why did we ever bother to cover CAT?

[13:08] {magoo} u mad us do it he he

[13:12] {cujo} back from the run

[13:13] {dino} brb

[13:19] {Threei}  FAS is bottomless... doesn't look like market believe in salvation of financials

[13:20] {nemo} Put in an order for $2

[13:20] {magoo} faz is topless lol

[13:21] {Threei}  what a couple

[13:22] {nemo} So, now that FAS is declared dead, does that mean we should go long?

[13:22] {Threei}  declrared by whom?

[13:22] {nemo} well, falling..."bottomless"

[13:23] {Threei}  yeah but didn't fall ultimately yet and hasn't reached that non-existing bottom

[13:23] {Threei}  it's just sliding down slowly, no slightest indication of reversal

[13:26] {Threei}  look at CEDC... people don't even want vodka anymore

[13:27] {elepet} hello. internet here is off and on and haven't been paying attention. just noticed message from KSystems. I don't know how to dcc.

[13:27] {Threei}  IAEA'S EL BARADEI: IRAN REMAINS UNCOOPERATIVE WITH REGARDS TO RESOLVING QUESTIONS IN NUCLEAR PROGRAM

[13:27] {Threei}  you should have a message from him elepet

[13:27] {nemo} so what's changed over the last 7 years with IRAN?

[13:28] {elepet} that is the message..to dcc him.

[13:28] {Threei}  look for a button with his name on it

[13:28] {magoo} GS just pummeled

[13:28] {Threei}  click on it to get into private chat window

[13:29] {Threei}  WHITE HOUSE: IMPORTANT TO HAVE A 'STRONG AND VIABLE' AUTO INDUSTRY

[13:29] {Threei}  {GM F}

[13:29] {Threei}  ugh magoo

[13:29] {Threei}  white house leaves us both in the dust as far as stating the obvious goes

[13:29] {Threei}  - spokesperson says will not make a judgement ahead of time on whether a govt backed bankruptcy option is needed for the auto industry

[13:32] {Threei}  BOE'S BESLEY: HARD TO KNOW HOW BIG A SPUR STIMULUS WILL BE FOR THE ECONOMY; FISCAL STIMULUS PACKAGES ARE NEEDED WORLDWIDE

[13:32] {Threei}  how come whole world suddenly went keynesian??

[13:33] {nemo} Because it's handout based and big government

[13:33] {dino} obviously it is as nobody will loan auto industry money

[13:34] {dino} pre-packaged should have happened in dec., just wasted billions more

[13:34] {magoo} wopw spike

[13:35] {Threei}  out of nowhere

[13:35] {Threei}  this is exactly kind of things that keep me at bay for now

[13:36] {Threei}  no news, no technicals

[13:36] {Threei}  just spike

[13:37] {magoo} spikearolla

[13:39] {Threei}  watch FAS for dive under .30 for a long scalp with stop under .20

[13:43] {Threei}  didn't give a chance for entry

[13:44] {magoo} rimm slow to respond to spike

[13:45] {Threei}  RIMM SEC CHARGES CO. AND 4 SENIOR EXECUTIVES WITH OPTION BACKDATING

[13:46] {nemo} HA!  Guess we were contrarian indicators on FAS  [13:22] {nemo} So, now that FAS is declared dead, does that mean we should go long?

[13:50] {dino}  good thinking nemo

[13:50] {nemo} No one has ever accused me of that!

[13:50] {hawkfan4} lol

[13:52] {Threei} Long Setup:  SQNM  .36 half lot if stays above .20

[13:55] {larisa} vad, when you post news without stamp, is it always current? 

[13:55] {Threei}  yes

[13:55] {larisa} was nice alert on RIMM, did not know if it just out or not

[13:56] {larisa} ok, thanks

[13:56] {Threei}  if it's old I post with date/stamp

[13:56] {larisa} i see

[13:56] {nemo} old like us, Vad?

[13:56] {Threei}  and add "news earlier" unless I forget

[13:56] {Threei}  which is often the case

[13:56] {Threei}  RIMM crossed the wire at 13:44

[13:58] {fernp} my esignal crashed. triggered SQNM?

[13:59] {nemo} no fern

[13:59] {cujo} nope

[13:59] {Threei}  no

[13:59] {fernp} ty

[13:59] {Threei}  still hanging there

[14:03] {cujo} in .36

[14:04] {Threei}  with this low on pullback, stop strictly speaking can be located under .25... higher odds of shakeout

[14:04] {Threei}  let's do a compromises: if it tags .40, let's trail to under .25

[14:04] {_bobv} hi guys

[14:04] {Threei}  hi bobv

[14:05] {Threei}  trailed

[14:06] {dino} rimm sm l .90, risky

[14:07] {Threei}  coming into 1:1

[14:09] {Threei}  a few min ago:

[14:09] {Threei}  RIMM

[14:09] {Threei}  CONFIRMS SETTLEMENT WITH THE SEC

[14:09] {Threei}  - RIM and four of its officers, Jim Balsillie, Mike Lazaridis, Dennis Kavelman and Angelo Loberto, have entered into settlements with the SEC that resolve the previously-disclosed SEC investigation of RIM''s historical stock option granting practices. RIM previously disclosed a management-initiated, voluntary review of its historical stock option granting practices that had commenced in 2006 and had been self-reported to the SEC and the Ontario Securities Commission

[14:09] {Threei}  - In the settlement with the SEC that was filed today, RIM consented, without admitting or denying allegations in a complaint filed by the SEC

[14:09] {Threei}  (GE) GERMAN GOVT HAS REPORTEDLY REACHED AN AGREEMENT TO PERMIT NATIONALIZATION OF CERTAIN BANKS - UNCONFIRMED REPORT

[14:09] {nemo} Ask K

[14:09] {Threei}  hello comrades

[14:09] {Threei}  comrade ksystems

[14:10] {nemo} comrade, brother, friend

[14:10] {Threei}  where is comrade fernp

[14:10] {nemo} I don't know Comrade Vad

[14:11] {Threei}  who else is from Europe, raise your hands... we will follow your steps very soon

[14:11] {Threei}  so might as well start practicing now

[14:11] {nemo} All for the Rodina!

[14:14] {Threei}  SQNM went 2 cents shy of 1:1

[14:14] {Threei}  if you haven't sold any, trail stop to under .30

[14:14] {Threei}  no need to risk anything more than a few cents anymore

[14:21] {magoo} vad..is there news GS? 

[14:21] {Threei}  no

[14:22] {magoo} ty

[14:22] {Threei}  US FTC NOMINEE VARNEY: GOOG IS A 'MSFT TYPE' MONOPOLIST

[14:22] {Threei}  uhhu

[14:23] {nemo} How's that?  Just because yahoo can't get their feces assembled?

[14:23] {Threei}  eqzaktly

[14:23] {nemo} It's not like they own the operating system.  What an IDIOT!

[14:23] {Threei}  Atlas Shrugged... almost page by page, line by line

[14:24] {Threei}  "but GOOG must give others a chance"

[14:24] {nemo} Yeah, she was a little over the top, but she was a pretty good judge of where the revolution was going, that's why she left.

[14:24] {larisa} comrade GOOG

[14:24] {nemo} Fountainhead was great too

[14:30] {cujo} Vad, 29.10 break on CAT?

[14:31] {Threei}  I don't have read on it here

[14:35] {magoo} vad, any news aapl?

[14:35] {Threei}  no

[14:35] {Threei}  why?

[14:35] {magoo} im just looking for candidates if mkt revcersed hard up

[14:35] {Threei}  I don't see it doing anything

[14:36] {larisa} lol

[14:37] {larisa} market hopes Obama will say something nice ?

[14:38] {Threei}  hmmm

[14:38] {magoo} well..i took .21 

[14:41] {Threei}  uncharacteristically narrow market today

[14:42] {magoo} out mkt ruined it

[14:42] {magoo} mad .50 area tho

[14:42] {Threei}  after two morning trades all we go was couple scalps, and one either small scalp or small stop depending you type of entry

[14:42] {Threei}  go = got

[14:43] {Threei}  not that I am unhappy about this performance, but it's getting hard to keep eyelids open

[14:43] {nemo} Two shifts 9:30-11:00 Nap   2:00-4:00

[14:43] {cujo} yeah, that afternoon run helped. 

[14:44] {cujo} still shaking off sleep....

[14:44] {Threei}  shaking off sleep AFTER run?

[14:44] {Threei}  my kind of running

[14:44] {cujo} ha ha

[14:44] {larisa} any news HIG vad {in best magoo voice}

[14:45] {dino} smoke 'em if you got 'em, out rimm .45, +.55

[14:45] {cujo} nice

[14:45] {larisa} gj

[14:45] {Threei}  no but there was news on PRU which is affecting HIG:

[14:45] {Threei}  S&P LOWERS RATING TO A FROM A+; OUTLOOK NEGATIVE

[14:45] {dino} ty

[14:45] {larisa} thanks

[14:47] {Threei}  solemn signing of the bill if coming up

[14:47] {nemo} and FAZ is climbing...heheheh

[14:49] {nemo} The government should send us each a jar of vaseline

[14:50] {dino} probably cheaper to just mail $50k to everybody, rather than this joker plan

[14:50] {hawkfan4} i vote for dino's plan

[14:51] {nemo} You're more likely to get the vaseline

[14:51] {dino} no, they want it to hurt

[14:51] {nemo} Then they

[14:51] {nemo} send the #60 grit

[14:55] {larisa} so many angry people on TV. My friend in Russia owns TV station, his advice always : watch as little TV as you can :)  

[14:56] {larisa} addicted to it though

[14:56] {Threei}  me too... TV sound helps me fall asleep

[14:59] {Threei}  FAS is back into low

[15:00] {Threei}  feels like reakdown is coming

[15:00] {Threei}  breakdown

[15:01] {Threei}  as guys on TV praise solars, FSLR is -10 with change and trades at low

[15:02] {Threei}  I see no single green solar

[15:02] {cosmo} GERN steady

[15:03] {cosmo} photosynthsis should be simple  ....plants can do it for free

[15:04] {Threei}  new low FAS

[15:05] {Threei}  http://www.namastesolar.com/

[15:05] {Threei}  The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.

[15:05] {nemo} wonder how much of today was fallout from the Japanese GDP report?

[15:06] {nemo} buddhist solar company...sheesh

[15:09] {larisa} they are installers, not manufacturers ?? :) 45 owner-employees company

[15:10] {cosmo} and they're napping now....

[15:10] {cujo} is it just me or does Obama soud like he's hostong a pep 'ally?

[15:11] {cujo} hosting

[15:11] {dino}  bingo!

[15:11] {dino} a gree, like a clueless cheerleader

[15:11] {Threei}  someone should tell them campaign is over

[15:12] {dino} exactly, stop the b.s. trpis

[15:12] {cujo} yeah

[15:12] {nemo} whaddya' figure the collective IQ of the audience to be?

[15:12] {cosmo} 100

[15:12] {nemo} generous...aren't you

[15:12] {Threei}  hard for me with my 43, nemo

[15:12] {nemo} 43 squared-you mean

[15:13] {Threei}  my dilemma:

[15:13] {dino} markets are saying bush's way better than obama spending; as bush's way was faster and infinitely less expensive

[15:13] {Threei}  I want to short this market right now badly,

[15:13] {Threei}  but can't tell whether it's real read or just a manifestation of what I think of this bill

[15:14] {nemo} I think this is from the Japanese GDP report.  We would have gotten this yesterday

[15:14] {dino} it's all smoke and mirrors 3i, flip the coin

[15:15] {Threei}  just feels like flush is coming

[15:15] {larisa} you think there will be reaction to signature ? market voted already

[15:15] {Threei}  but I don't want to force any trade

[15:15] {Threei}  no, not really larisa

[15:15] {cujo} depends which pen he uses larisa...

[15:15] {nemo} The signing was anti-climactic to the passage in Congress

[15:16] {Threei}  there is no significance to act of signing itself

[15:16] {nemo} FAS continues to strengthen

[15:16] {dino} yeah, the typical reaction....down hard

[15:16] {nemo} "Congress's 31% approval rating highest in 2 years"

[15:17] {dino} lol, i do better on the family polls

[15:17] {Threei}  really?

[15:17] {Threei}  wow

[15:18] {Threei}  out of 4 family members only cat votes for me

[15:18] {larisa} you are the one feeding her ?

[15:18] {Threei}  AAPL

[15:18] {Threei}  HEARING PIPER MAKING COMMENTS; NPD DATA CAME IN AT 'LOW END' OF EXPECTATIONS (TIMING UNCERTAIN)

[15:19] {Threei}  I am the one who gives her favorite treat in the morning... 'cause I wake up before everyone else does

[15:19] {nemo} Ohoh...FAS heaed for low

[15:19] {nemo} headed

[15:19] {Threei}  AAPL sells down hard

[15:20] {nemo} this is gonna' be close

[15:20] {Threei}  WFC

[15:20] {Threei}  HEARING DEALREPORTER MAKING CAUTIOUS COMMENTS; CITES UNDERESTIMATION OF WACHOVIA'S FUTURE LOSSES

[15:20] {nemo} FAS held

[15:23] {nemo} ohoh

[15:23] {Threei}  here comes flush

[15:23] {nemo} Should we ask Mrs. Lincoln about the play?

[15:23] {larisa} why he uses different pens ? tradition ?

[15:24] {nemo} He gives pens to different people as mementos

[15:24] {larisa} sigh

[15:24] {wulff} and his finger are sticky

[15:24] {nemo} why?

[15:24] {Threei}  I feel stimulated

[15:25] {larisa} lets rally!

[15:25] {nemo} why?

[15:25] {nemo} who said th "R" word!!!

[15:25] {Threei}  oh wait... it's just magoo shared one of his favorite websites with me

[15:25] {nemo} I don't want to know

[15:25] {nemo} I'm closing my eyes

[15:26] {nemo} Not listening....

[15:27] {Threei}  what was the Nov low for DJI?

[15:27] {larisa} 7400 something

[15:27] {nemo} 68 somethin'

[15:28] {larisa} lol

[15:28] {hawkfan4} 7460

[15:28] {dino} 7449.38

[15:28] {larisa} we need dino he always knows

[15:28] {larisa} :)

[15:28] {nemo} I thought it went below 7000 intraday

[15:28] {Threei}  we are just 120 points away

[15:28] {dino} ndx 1018.86

[15:28] {dino} s/p 741.02

[15:29] {Threei}  two ways to view it:

[15:29] {Threei}  one is obvious,

[15:29] {dino} right or wrong

[15:29] {Threei}  we are so close to this magnet, we are boundf to tag and break it

[15:29] {Threei}  yes dino :)

[15:29] {Threei}  another is,

[15:29] {dino} as livermore would say, if wrong, only one thing to do...get right

[15:29] {Threei}  it's so obvious and so many are calling for it, we will turn around here and rally

[15:30] {dino} well then, giddy-up

[15:31] {magoo} man vad

[15:31] {magoo} look

[15:32] {dino} out gild .30, +.40

[15:33] {dino} all day

[15:33] {fernp} gj dino

[15:34] {dino} ty, spike helped

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

[15:34] {dino} welol, all in all, 4 for 4

[15:34] {Threei}  RIMM closer to .15 - .20

[15:35] {_bobv} jeez

[15:36] {Threei}  same for FAS

[15:36] {cosmo} GERN gonna test 6.66   

[15:37] {cosmo} hod

[15:38] {larisa} scalped 15 cents on HIG, somehow does not feel like r word

[15:38] {larisa} :(

[15:39] {magoo} very iffy here

[15:42] {Threei}  PRESIDENT OBAMA ORDERS 10,000 TROOP INCREASE FOR AFGHANISTAN

[15:43] {Threei}  get ready FAS if you are in the mood for one more play

[15:44] {larisa} nice :)

[15:44] {nemo} when it touched the Bollinger band?

[15:45] {Threei}  who took it, feel free to exit

[15:45] {Threei}  missed RIMM

[15:45] {magoo} me too

[15:45] {Threei}  hit my bounce level to the cent too

[15:46] {wulff} great call

[15:46] {Threei}  ty

[15:46] {cujo} yeah, got the fas

[15:46] {Threei}  :)

[15:46] {cujo} thanks Vad

[15:46] {Threei}  sure

[15:47] {Threei}  Ok guys, I want to quit now while we are solidly ahead

[15:47] {Threei}  one stop today?

[15:47] {Threei}  4 or 5 wins

[15:48] {Threei}  not bad for this miserable market

[15:48] {larisa} good leadership by you today :)

[15:48] {Threei}  yeah, I am reading Tao of Leadership, lol

[15:48] {hawkfan4} nice job Vad

[15:48] {cujo} yup. good day.  Catch you all tomorrow.

[15:48] {Threei}  thank you all

[15:48] {Threei}  have a good evening

[15:49] {larisa} see you

[15:49] {Threei}  see you for new bailouts tomorrow

[15:49] {vint} thanks vad

[15:49] {nemo} P&Q

[15:49] {dino} gj room

[15:54] {magoo} thanx vad

[15:54] {magoo} ty all

[15:54] {magoo} tough mkt imo..but we navigated well

[15:56] {patience} one trade hgu +1.78   bought it again before the close, will play it for as long as its got momo

[15:57] {dino} gj

[15:57] {patience} ty dino, will do some buying this week i think

[15:58] {dino} same

[15:58] {fernp} good evening everyone

[15:58] {patience} crude shorts are ready to get whacked

[15:58] {dino} we should get exp. up 200 one day this week

[16:01] {dptl} gn all