RealityTrader Trading Log

Thursday, July 16, 2009

Jul 16 2009

Mostly inactive second half of the day (what else is new?) but the morning brought profits on WFC, RIMM and AA - this last one was real torture speed wise. Can't be too picky in the summer trading though.

Session Time: Thu Jul 16 00:00:00 2009

[08:26] {fernp} good morning everybody
[08:27] {nemo} :)
[08:27] {tomg} good morning fern, nemo, everybody :)
[08:37] {Threei} Good morning
[08:37] {nemo} :)
[08:38] {cosmo} far
[08:38] {cosmo} :)
[08:38] {Threei} *INITIAL JOBLESS CLAIMS: 522K V 553KE; CONTINUING CLAIMS: 6.273M V 6.850ME
[08:38] {Threei} - Prior jobless claims revised from 565K to 569K
[08:38] {Threei} - Prior Continuing Claims revised from 6.883M to 6.915M
[08:38] {Threei} **Labor Dept: jobless claims were affected by seasonal factors, manufacturing and auto sector layoffs were less than typical; expected auto layoffs have already taken place.
[08:40] {_johnk3} gm
[08:41] {Threei} johnk :)
[08:41] {Threei} whole bunch of developments with CIT yesterday
[08:41] {Threei} interetsed or skip?
[08:41] {nemo} sure
[08:42] {Threei} very informative answer
[08:42] {nemo} well?
[08:43] {Threei} US Govt still evaluating aid for CIT; discussions could reportedly still end with bankruptcy - unconfirmed report
[08:43] {Threei} - Source notes that situation at the company could be bad enough that Govt aid may not help
[08:43] {Threei} Discussions with government agencies have ended, advised there is no "appreciable likelihood" of additional government support in the near term
[08:44] {Threei} Follow Up: Treasury has no comment on the company's statement
[08:44] {Threei} Treasury: High threshold exists for exceptional government aid; Says US has a strong set of financing tools to help restart overall credit markets
[08:44] {Threei} - Says several solutions for CIT were considered, but the firm's difficulties were too substantial.
[08:44] {Threei} - Says the liquidity situation at CIT had deteriorated to the point where solutions became unworkable.
[08:44] {Threei} Treasury: Bankruptcy not a foregone conclusion for the company and other restructuring options may be considered
[08:44] {Threei} - Unlike other firms that had government aid, CIT had not demonstrated that it could raise private capital and stay solvent.
[08:44] {Threei} - Believes that a CIT failure would not be as disruptive for markets and small businesses as in the past
[08:44] {Threei} - WSJ: Treasury expects to lose entire $2.3B TARP investment in CIT.
[08:45] {magoo} morning
[08:45] {Threei} FDIC Chairman Bair is seeking tougher curbs on the size and risk-taking of the US' largest financial firms
[08:45] {Threei} - The FDIC will propose charging the largest bank holding companies fees to the extent that they carry out non-traditional lending activities, such as proprietary trading.
[08:45] {Threei} mags :)
[08:45] {nemo} Magus
[08:46] {Threei} CIT Group Inc Has 24 hours to secure a $2B rescue financing sum; without financing, bankruptcy appears likely - WSJ
[08:46] {Threei} - Treasury official saw as much as half of TARP investment lost in value, says CIT's problems are too large to be resolved through govt aid
[08:46] {Threei} - Official also noted that CIT problems are not expected to be systemic, with bankruptcy possibly but other options still on the table
[08:46] {Threei} - Follow Up as of 23:10 EST: According to CNBC, CIT Group is likely to file for bankruptcy Friday.
[08:46] {Threei} - The CNBC report cited an unnamed source.
[08:46] {Threei} **Note: As of 12/2008, CIT had assets of $80.4B and liabilities of $72.3B.
[08:46] {magoo} so rumor not being saved?
[08:47] {Threei} rather: doesn't look like can be saved
[08:47] {Threei} look at this:
[08:47] {Threei} US Trade Rep Kirk: US has allowed certain trade partners to run over the country - interview
[08:48] {nemo} protectionism
[08:50] {BillyD} gm all
[08:50] {Threei} Billy :)
[08:50] {magoo} anyone know when bidu reports?
[08:53] {nemo} mags, they last reported on 4/27 so that would put them sometime at the end of the month-nothing yet
[08:53] {magoo} hm..ty
[08:53] {larisa} gm :)
[08:54] {Threei} larisa :)
[08:54] {Threei} GOOGS's today though, mags
[08:55] {magoo} yup
[08:55] {cosmo} BFRM
[08:55] {cosmo} FDA OK
[08:56] {cosmo} (FDA) approval for a method of mixing RADIESSE(r) dermal
[08:56] {cosmo} filler with lidocaine, which, in clinical trials, has demonstrated an
[08:56] {cosmo} improvement in patient comfort and an increase in patient satisfaction
[08:57] {cosmo} ... to things in general...
[09:01] {magoo} vad..u see pot and mos?
[09:01] {magoo} thinking short
[09:02] {Threei} well... not right now? :)
[09:02] {nemo} are you asking him or telling him?
[09:04] {Threei} consider it rhetorical question
[09:10] {dino} gm all
[09:11] {Threei} dino :)
[09:12] {texus} gm
[09:12] {Threei} texus :)
[09:12] {nemo} jpm down on a big beat
[09:15] {vinod} GM to all
[09:15] {Threei} vinod :)
[09:15] {nemo} vino
[09:16] {vinod} My intention is to help AIG today so you guy don't harrase AIG will short it?
[09:16] {Threei} well, we can't short it
[09:17] {Threei} so if anything, will play long... but only if it forms something convincing
[09:17] {vinod} them i may go after RIMM?
[09:20] {Threei} why predetermine what you are going to short?
[09:21] {Threei} whatever forms right setup and is supported by market direction, can be played
[09:23] {vinod} yes,I never do what I think is good trade untill i see real price
[09:25] {dptl} good morning all
[09:25] {Threei} dp :)
[09:27] {ese} damn thing....why pick on me this morning
[09:28] {ese} good morning
[09:28] {Threei} ese :)
[09:28] {Threei} lol... you enter wrong nick and expect it to understand? :)
[09:29] {ese} i swear on a stack of bibles that i entered ther right nick and pass
[09:29] {ese} 3/4 times
[09:29] {Threei} you have autofill on
[09:29] {Threei} you start typing, it filles to old nick
[09:29] {ese} nope
[09:30] {Threei} you click OK and boom, you have esemede in the username field
[09:30] {ese} don't know how to set that....where is it
[09:31] {_johnk3} stocks we are watching?
[09:31] {Threei} Assistant Treasury Secretary Allison: still expect millions of foreclosures even if the Obama program is a complete success
[09:32] {Threei} WFC
[09:32] {Threei} watching selling to pick a reversal
[09:32] {nemo} jpm too
[09:32] {_johnk3} thx
[09:33] {Threei} want one more leg down
[09:33] {Threei} if this is reversal, I'll let it go
[09:33] {nemo} not much of a range
[09:34] {_johnk3} RIMM?
[09:34] {Threei} too volatile
[09:34] {Threei} wfc
[09:35] {ese} stx
[09:35] {ese} waiting for pullback
[09:36] {Threei} ok, this is more like it
[09:36] {jfjf64} mornin
[09:36] {Threei} jf :)
[09:36] {nemo} fcx up a buck
[09:36] {Threei} Long Setup: WFC .85 break
[09:36] {Threei} if stays above .75
[09:37] {ese} it might cover the the .60 to .40 gap vad
[09:38] {Threei} looks ready to me
[09:38] {Threei} anyway, stop is small enough
[09:39] {ese} in wfc .85
[09:39] {fernp} in WFC
[09:40] {vinod} in.86
[09:40] {Threei} 1:1, half out or scalp
[09:40] {fernp} and out WFC
[09:40] {ese} out .93
[09:40] {fernp} ty Vad
[09:40] {jfjf64} out 92 ty
[09:40] {Threei} stop to .70 if you partial
[09:41] {ese} +.07
[09:41] {Threei} .79
[09:41] {vinod} 0ut.93
[09:41] {ese} tks vad!
[09:41] {Threei} sheesh... full room of pesky scalpers
[09:41] {nemo} out .93 hard getting fill
[09:41] {Threei} welcome of course, lol
[09:41] {nemo} Tyvm
[09:41] {_johnk3} godd trade V, thx
[09:42] {texus} out .92 too, ty
[09:42] {Threei} am I the only one holding half still??
[09:42] {BillyD} yea, I am out
[09:42] {_mikej} no iam
[09:42] {Threei} whew
[09:42] {magoo} i am
[09:42] {Threei} offering 1/4 more 25.04
[09:43] {Threei} stop is still under .80
[09:43] {vinod} got to go see you after lunch time
[09:43] {Threei} take care vinod
[09:43] {BillyD} cya vin
[09:43] {nemo} Vinod- another one-trade-stand
[09:44] {Threei} lol
[09:44] {Threei} will trail to .84 if breaks .96
[09:44] {ese} sure ....and run....whats that all about lol
[09:44] {Threei} vene vinodi vici
[09:44] {nemo} makes you feel used ese
[09:45] {Threei} stop to under .85
[09:45] {ese}
[09:45] {nemo} Which reminds me, I have a friend who works in counseling...she was talking about sexual molestation
[09:45] {Threei} out 1/4 more 25.04
[09:45] {nemo} You always here about Men molesting young girls
[09:45] {magoo} out TY
[09:46] {Threei} stop to under .90
[09:46] {nemo} She says the incidence of Women molesting young men is actually much higher...we just don't complain
[09:46] {Threei} offering last part at 25.12
[09:47] {BillyD} taking it to the last penny eh Vad
[09:47] {Threei} me greedy
[09:47] {BillyD} lol
[09:47] {Threei} me also lazy - this one I already found, next one I still have to find
[09:47] {jfjf64} good time to be
[09:47] {nemo} He's not that good...he only get's within 1 or 2 cents of the top tick
[09:50] {Threei} Long Setup: RIMM .40 if stays above .25, half lot
[09:50] {dino} cov .60 pot +.40
[09:52] {Threei} over 1:1 RIMM
[09:52] {Threei} out +.33
[09:53] {magoo} out .78 TY
[09:53] {Threei} :)
[09:53] {ese} L intc .18
[09:53] {Threei} WFC held by fingertips
[09:54] {Threei} come here my meatball
[09:54] {Threei} see that 25.12? just take it
[09:54] {_johnk3} great trade RIMM V, thx :)
[09:54] {Threei} :)
[09:55] {jfjf64} xlnx tk look at vad
[09:55] {Threei} Long Setup: FITB .40 if stays above .35
[09:55] {Threei} just a scalp most likely
[09:56] {Threei} XLNX, .65 break maybe
[09:56] {jfjf64} ya lk .65 brreak
[09:57] {Threei} done with WFC
[09:58] {ese} L intc again avg price .186
[09:59] {BillyD} vad, look at EWBC
[10:00] {_johnk3} XLNX?
[10:00] {_johnk3} was this a definite maybe? :)
[10:00] {Threei} EWBC, I don't understand it
[10:01] {BillyD} ok
[10:01] {nemo} xlnx would have scalped
[10:03] {BillyD} ROST Vad is a nice uptrend, maybe .30 B?O
[10:03] {BillyD} B/O
[10:03] {Threei} US) Reportedly House panel adds $485M to defense budget for helicopter programs
[10:03] {Threei} - Helicopter funds to restore LMT helicopter program
[10:03] {Threei} heh
[10:03] {Threei} hypocrisy run wild
[10:04] {Threei} small shares Billy...
[10:04] {_mikej} xlnx ?
[10:04] {Threei} stop is a bit too far and stock isa bit too thin
[10:04] {BillyD} yeah, it is jumpy
[10:05] {ese} blind sided by the philly fed again
[10:05] {Threei} leave XLNX alone guys... that was specific question I answered, and jf knows how to play that one... kind of individual stock and setup
[10:06] {dino} sds l .60
[10:06] {jfjf64} sorry guys
[10:06] {nemo} don't do it again jf
[10:06] {nemo} :)
[10:07] {dino} out sds .72, +.12
[10:07] {magoo} AIG vad dumps
[10:08] {Threei} yeah, too bad it's non-shortable today
[10:08] {larisa} I can, close eyes, short and wait for 10 ?
[10:08] {nemo} funny girl
[10:08] {Threei} first two plays were easy... don't really want our third one to be AIG long, lol
[10:09] {larisa} :)
[10:10] {jfjf64} .55 l nok
[10:11] {Threei} .76 is a long trigger though if holding .65
[10:11] {Threei} and .64 is short trigger
[10:11] {BillyD} aig Vad?
[10:11] {Threei} yeah
[10:12] {BillyD} invalidated right?
[10:12] {Threei} yup
[10:14] {jfjf64} nok invalid here
[10:16] {larisa} vad RIMM you called off higher low? it was perfect price div, but you do not look for such things, right? ty
[10:16] {magoo} vad, look AA
[10:17] {Threei} wtaching
[10:18] {Threei} why not larisa? of course I do
[10:18] {Threei} that was double bottom, higher low, range established betgween .20 and .40,
[10:18] {Threei} one more pullback bottoming out above .25,
[10:18] {Threei} .40 becoming perfect trigger
[10:20] {Threei} Long Setup: AA .20 break if stays above .10
[10:21] {larisa} plus price divergence with all possible indicators. Was perfect setup, nice call RIMM
[10:21] {Threei} well, that I wouldn't know since I don't watych any indicators :)
[10:22] {jfjf64} nice larissa
[10:22] {larisa} this is why I ask, genius vad :)
[10:22] {Threei} lol
[10:22] {nemo} How much you pay her, Vad?
[10:22] {Threei} I missed the "price div", thought you meant higher low
[10:22] {Threei} Short Setup: RIMM .60 break half lot
[10:23] {BillyD} I am glad you asked, at first glanc eI did not see what Vad was calling and passed on I know better
[10:23] {Threei} if stays below .75
[10:24] {BillyD} does the RIMM spike invalidate it?
[10:25] {Threei} not if it trades for a min or two under .75 again
[10:25] {Threei} but another move over .75 will
[10:25] {BillyD} ok, sometimes it does and sometimes it doesn't
[10:25] {Threei} yeah
[10:26] {Threei} brief spike with very few trades, kind of natural volatility for this one
[10:26] {BillyD} with AIG spike below .64 and it's overall weakness made that spike more confirming right?
[10:26] {Threei} after all, we are trying to nail setup with 15 cents range on a very volatile stock
[10:26] {Threei} gotta give it some leeway
[10:26] {dino} sds s .50
[10:27] {Threei} now RIMM is fully invaliadetd
[10:27] {Threei} and in fact became a fade
[10:27] {Threei} but I had no time to call it, lol
[10:27] {BillyD} does my AIG comment make sense?
[10:27] {Threei} yup
[10:28] {BillyD} ok, just trying to follow
[10:28] {_bradc} AA?
[10:28] {Threei} still valid
[10:29] {Threei} it actually formed two setups in one...
[10:29] {Threei} one for scalpers
[10:29] {Threei} .20 break long with stop under .15
[10:29] {Threei} one for daytraders, with srtop under .10
[10:29] {Threei} whatever rocks your boat, both are valid
[10:29] {dino} cov sds .38, +.12
[10:30] {Threei} RIMM{ if I were smart and called two-sided setup in advance, we would have had over 1:1 here
[10:31] {Threei} 1:2
[10:31] {Threei} why oh why am I not smart
[10:32] {BillyD} get smarter
[10:32] {Threei} I will try my best
[10:32] {dino} you want me to slap the stupid out of you?
[10:32] {BillyD} rofl
[10:32] {Threei} I am afraid by doing that you will slap the whole me out of me
[10:33] {jfjf64} market movin nice
[10:33] {nemo} you'd have to hit him in the ass Dino
[10:33] {dino} or how about we change your nickname to meathead
[10:33] {texus} anyone else in AA?
[10:33] {Threei} nah, I better go to monastery
[10:33] {larisa} you either smart or genius, can not be both
[10:33] {dino} no but i should be
[10:34] {Threei} yes tex
[10:34] {nemo} yes
[10:34] {Threei} it triggered fair and square, why the doubt
[10:34] {fernp} in AA. yes
[10:35] {texus} didn't see anyone say they were in, all good :)
[10:35] {jfjf64} in aa tex
[10:35] {jfjf64} lets goooooooooooooooooooooooo
[10:35] {Threei} they hold out on us tex
[10:35] {Threei} then if it works they all say sure we wer
[10:35] {texus} ahhh...
[10:36] {Threei} if it doesn't, they say "of course we skipped it, it was so stupid to call it"
[10:36] {jfjf64} quiet assins ya trainin vad
[10:36] {Threei} lol
[10:36] {dino} lol
[10:36] {fernp} and in HIG from ,80 with stop under .70
[10:36] {Threei} wow, that was a good setup
[10:37] {fernp} ty
[10:37] {Threei} but fern held out on us too
[10:37] {nemo} volume dropping on AA increase
[10:38] {jfjf64} thanks nemo
[10:39] {wulff} WFC if you believe
[10:39] {Threei} WFC, I looked at it at .80, was nice-looking setup
[10:40] {Threei} just felt like a bit too operfect
[10:40] {Threei} and market was quite uncertain... so I refrained
[10:41] {Threei} AA used to be much faster than this
[10:42] {jfjf64} aig vad .80 break ya lk
[10:42] {wulff} Cramer pushing SNDK big
[10:42] {Threei} not sure jf
[10:42] {Threei} kind of 50/50
[10:43] {jfjf64} no lk 50/50 ty
[10:43] {Threei} see, AIG here is a pure risk based setup
[10:43] {Threei} what I mean by yhis is:
[10:43] {dino} sds l .20
[10:43] {Threei} it can go up or down in such situation as this with equal odds,
[10:44] {Threei} so if you find a formation with stop tight enough for you to shrug it off if not working, it's a valid play
[10:45] {magoo} too funny cause i took .75
[10:45] {magoo} before
[10:45] {jfjf64} thats what is hard to find stop formation i luv
[10:45] {magoo} low
[10:45] {Threei} well, low of the range
[10:45] {Threei} is natural support
[10:45] {Threei} thus becomes a stop if broken
[10:46] {jfjf64} .60
[10:46] {Threei} yes for a scalp
[10:46] {Threei} there is one more support level near .50
[10:46] {Threei} if you go for a longer trade, gotta give it a bit more room
[10:47] {Threei} and then of course whole array of different kinds of entries come into play...
[10:47] {jfjf64} go magoo
[10:47] {Threei} regular vs aggressive vs consevative
[10:47] {magoo} could rip
[10:47] {magoo} thats why interested
[10:47] {Threei} magoo went for regular
[10:47] {Threei} you eyed a bit more conservative
[10:47] {jfjf64} ty vad
[10:48] {jfjf64} that stop to bg for me
[10:48] {Threei} everyone knows/remembers diferent kinds of entries and their trade-offs?
[10:48] {BillyD} yes
[10:48] {jfjf64} but 3x hittin off.80 hmm
[10:49] {BillyD} now or never AA
[10:49] {Threei} {AA} don't pressure me
[10:50] {jfjf64} forgot aa how funny must be up BIG this week ty vad
[10:50] {Threei} welcome sir... nice to hear
[10:51] {magoo} out ,87
[10:51] {dino} out sds .32, +.12
[10:51] {magoo} will most likely reload
[10:51] {nemo} market ddrop
[10:51] {jfjf64} gj magoo
[10:52] {Threei} (US) Senator Bunning: States FDIC's Bair has stated that up to 500 more banks could fail (related XLF )
[10:53] {fernp} AA stop is still under .10, no?
[10:53] {jfjf64} need market to bounce movin avg for aa
[10:54] {Threei} {AA} told ya I do things at my own pace
[10:54] {Threei} no fern, I'd move it to under .15
[10:54] {BillyD} it was subtle suggestion technique
[10:54] {Threei} and scalpers got their 1:1
[10:54] {fernp} ty
[10:55] {dino} (US) dino says maybe more maybe less than 500 failures...see i could be politician too
[10:55] {nemo} a weatherman or economist also
[10:56] {Threei} isn't it ironic: magoo who hates slow stocks brought the slowest of today's plays, AA
[10:56] {magoo} but im not in it
[10:56] {nemo} frickin' comic book characters
[10:56] {Threei} say what?
[10:56] {magoo} not my type
[10:56] {nemo} fcx vad
06[10:56] * Threei slaps magoo around a bit with a large roll of cash
[10:56] {jfjf64} wide lines hd that feelin gettin in
[10:57] {Threei} CIT CNBC's Faber private equity and fixed income firms are in some talks to secure financing (0.41, -1.23, -75.13%)
[10:58] {Threei} well FCX...
[10:58] {Threei} FCX formal long trigger is .80 break...
[10:58] {Threei} but stop is quite wide
[10:58] {Threei} and stock is far from easy
[10:58] {nemo} been building a base though around .70
[10:58] {Threei} .70 is not a reliable support
[10:59] {jfjf64} look cof very strong
[10:59] {dino} sds l .35
[10:59] {nemo} should we move stop to .20 on aa?
[10:59] {jfjf64} market sellin this flyin
[11:00] {Threei} kind of personal preference nemo
[11:00] {Threei} can trail to under .20, can keep under .15
[11:01] {Threei} COF.. not sure about breakout but pullback into .80 would get me interested
[11:02] {Threei} US Houes Speaker Pelosi: Could possible change the high end of the healthcare surtax
[11:02] {jfjf64} was watchin break of .70 im sick
[11:02] {Threei} that was a good one
[11:03] {nemo} damn, watching aa missed break on fcx
[11:04] {jfjf64} lk how vol spiked up at .70
[11:05] {jfjf64} that was the ticket i missed it
[11:06] {magoo} a
[11:06] {magoo} i
[11:06] {magoo} g
[11:06] {dino} sds stopped -.10
[11:07] {magoo} in .85
[11:07] {jfjf64} even 2nd setup .85 i think valid cof also
[11:07] {magoo} looking for a RIPPPPPPP
[11:08] {magoo} [10:51] {magoo} out ,87
[11:08] {magoo} [10:51] {magoo} will most likely reload
[11:08] {magoo} [10:51] {nemo} mar
[11:08] {wulff} wow rimm
[11:08] {jfjf64} nice magoo lk it at .90 break gj
[11:09] {magoo} prolly .17 area
[11:09] {jfjf64} stop to .95
[11:09] {dino} rinsed
[11:10] {jfjf64} stop to .10
[11:10] {dino} reload .35 again sds
[11:11] {magoo} out .17 TY vad
[11:11] {jfjf64} gj magoo
[11:11] {magoo} jf careful
[11:11] {nemo} out aa
[11:11] {magoo} u out
[11:11] {jfjf64} y
[11:12] {magoo} make $$?
[11:12] {jfjf64} 18 cents
[11:13] {larisa} nice
[11:13] {dino} out sds .50, +.15
[11:14] {jfjf64} cof pull bk vad
[11:15] {Threei} not sure
[11:15] {Threei} get this:
[11:15] {Threei} US House Speaker Pelosi: Some of the wealth surtax could be used to pay down the Govt deficit
[11:15] {dino} why oh why don't we cut something rather than tax and spend
[11:16] {Threei} better yet: spend more than we taxed, so then we raise tax to compensate for overspending
[11:16] {jfjf64} cof interestin bulls bears fightin
[11:16] {Threei} and of course collecting more tax, we raise the spending again
[11:17] {Threei} but as Tatcher said... the problem with socialism is, sooner or later you run out of other people's money
[11:17] {dino} between state and federal taxes, the projections for these changes are at 55% tax rate, notcounting real estate/school taxes
[11:19] {dino} sds l .60
[11:19] {ese} I hadn't heard that saying before vad....but thats oh so true
[11:21] {dino} and i still think the dumbest thing is we spend 300-600 billion on oil, while we have enough nat. gas to last 150 years. it could power everthing
[11:21] {dino} not to mention the jobs it would create.
[11:22] {nemo} environmentalists 1) don't want a carbon based source of energy, and 2) don't want cheap energy
[11:23] {dino} you said it nemo
[11:24] {nemo} What's really scary, although, if they started with the Capitol and each state house, I wouldn't be opposed; many of the environmental groups believe in a radical reduction in the earth's population
[11:25] {Threei} and 3) want us all to wear fabric bags with holes for the head and arms and live in caves
[11:25] {dino} bunch of idiots w/$
[11:25] {nemo} Having said that, if they want to volunteer for population reduction, I'll gladly offer my services for free
[11:26] {dino} lol
[11:28] {dino} es, how did you shoot yesterday?
[11:28] {Threei} "how" or "who"?
[11:28] {dino} golf, how
[11:28] {Threei} sigh.. nevermind
[11:29] {dino} i get it
[11:29] {dino} but we cannot print that
[11:29] {jfjf64} cof missed again
[11:29] {Threei} lol
[11:29] {dino} up or down vlad the impaler
[11:30] {dino} caesars coin says down
[11:30] {Threei} don't have an opinion yet
[11:30] {Threei} kind of moment of indecision in the market
[11:30] {jfjf64} cof double top with market droppin
[11:31] {dino} thats why we have the coin
[11:38] {Threei} hmmm... this is from e-mail I got:
[11:38] {Threei} Looking gorgeous doesnt require big sums of money
[11:39] {Threei} yeah? I couldn't manage it on the cheap, nor for considerable expense...
[11:41] {dino} sds stopped -.15
[11:42] {jfjf64} cof
[11:42] {jfjf64} wow
[11:42] {dino} sds s .45
[11:42] {jfjf64} triple top to yesterday
[11:58] {dino} cov sds .25, +.20
[12:02] {Threei} Long Setup: AIG 13 break if holding above 12.90
[12:08] {Threei} yawn
[12:10] {dino} up or down vad?
[12:10] {Threei} sideways...
[12:10] {dino} unacceptable
[12:11] {Threei} sorry
[12:11] {Threei} but that's all I have
[12:11] {dino} you know, i'm starting to think you don't care
[12:11] {BillyD} COF a strong teaser
[12:12] {Threei} starting??
[12:12] {Threei} I stated years ago... I don't :)
[12:12] {BillyD} it seems
[12:14] {BillyD} Vad, do you care at all about COF
[12:14] {Threei} US Rep Frank: Committee will handle executive compensation topic in the last week of July
[12:14] {Threei} - Legislation includes 'say on pay' and will place curbs on excessive risk taking behavior
[12:15] {Threei} I jave hard time reading things when pace is so miniscule, Billy
[12:15] {BillyD} it's a slow
[12:15] {BillyD} dance
[12:15] {BillyD} that's why it's a tease
[12:16] {dino} lol
[12:23] {Threei} sorry dino... but 15 min later, it's still sideways
[12:24] {dino} guess you were right
[12:24] {Threei} not that I am glad to be
[12:24] {Threei} I would prefer the darn thing to start moving
[12:24] {Threei} but we may have to wait till after Labor day for that, lol
[12:25] {Threei} overall, my belief is, for the slow summer trading we are doing remarkably well
[12:25] {dino} scalpers market
[12:25] {Threei} finsing trades every day and winning most of them
[12:25] {Threei} finding too
[12:26] {dino} its so flat that sds crack won't budge
[12:26] {jfjf64} cof cof
[12:27] {jfjf64} fire sale
[12:27] {Threei} lol
[12:27] {Threei} good one jf
[12:28] {jfjf64} lot of entry didnt tk one
[12:29] {BillyD} skimpy mkt cuases me too not take some good setups
[12:29] {BillyD} causes
[12:29] {Threei} exactly Billy
[12:29] {Threei} oh sorry
[12:29] {Threei} eqzaktly
[12:29] {BillyD} lol
[12:29] {Threei} just as skimpy oputfits cause us to... errr.... cough, nevermind
[12:30] {BillyD} sigh
[12:30] {dino} huh? you say something
[12:31] {wulff} will be in the fair country with in the hour, so stay off the roads.
[12:38] {BillyD} AAPL may be a short off .80
[12:39] {dino} sds l .35
[12:46] {Threei} AAPL invaliadted
[12:48] {BillyD} yeah, mkt upticks
[12:52] {nemo} aa about to go 1:1
[12:52] {larisa} lol
[12:52] {Threei} {--- crying
[12:53] {BillyD} got out long time ago and not crying
06[12:53] * nemo {----lied
[13:03] {magoo} ANPI
[13:08] {Threei} I don't see fresh news on it
[13:11] {dino} sds to .47 stingy
[13:11] {dino} to .50
[13:11] {dino} out +.15
[13:12] {dino} anpi fda approval
[13:12] {dino} of taxus
[13:12] {Threei} but that was before opening
[13:13] {dino} alrighty then
[13:13] {BillyD} see what ya get for trying to help dino
[13:14] {larisa} lol
[13:18] {dino} no respect
[13:22] {magoo} AIG vad criushed
[13:23] {larisa} to wake you up :
[13:23] {larisa} funniest and saddest sculpture
[13:24] {Threei} lol
[13:26] {larisa} and you say do not raise taxes for wealthy :) after seeing this I want all their money :)
[13:29] {jfjf64} cof.70 break vad what ya thoughts
[13:30] {jfjf64} nevermind
[13:31] {jfjf64} i wd think .70 .71 is level from this point on
[13:41] {jfjf64} c/h cof
[13:48] {jfjf64} any takers
[13:49] {BillyD} not here
[13:49] {jfjf64} in at 71
[13:49] {ese} ese is not away.......i'm still here watching INTC take off....i'm long at .19
[13:50] {magoo} vad..from u gauge goog today?
[13:50] {magoo} its non performance
[13:51] {jfjf64} half out .84
[13:51] {BillyD} nice one jf
[13:51] {jfjf64} cof finally
[13:53] {jfjf64} stop to .82
[13:53] {Threei} mags... honestly, when it comes to GOOG, asnything's possible
[13:53] {Threei} I've no idea
[13:54] {jfjf64} stop to .85
[13:55] {jfjf64} out
[13:56] {jfjf64} +13 +14
[14:00] {magoo} EXPLODING UPWARD
[14:01] {Threei} CIT Group Inc Bondholders are reportedly considering a debt swap in efforts to avoid bankruptcy
[14:01] {Threei} - CIT's largest bondholder, Pacific Investment Mgmt, plans to hold a conf call with other bondholders to discuss the option. Some reports say CIT could need as much as $6B in funding to keep it out of bankruptcy.
[14:01] {BillyD} hate to have the pressure of the largest bondholder
[14:04] {jfjf64} vad ya still in aa
[14:04] {nemo} he's in coma
[14:05] {jfjf64} or countin is loot
[14:06] {Threei} no jf
[14:06] {Threei} lost patience long ago
[14:06] {Threei} or to be more precise, was afraid to fall asleep while having it open
[14:12] {BillyD} SMTC nice chart
[14:14] {jfjf64} look jpm 36.00 ouch
[14:29] {jfjf64} jpm
[14:30] {Threei} AA- NOW I am crying
[14:31] {ese} out INTC .34 + .15 35k......have to go otherwise would hold on for longer...been a good days work
[14:31] {nemo} I'll cry with you look at fcx
[14:31] {ese} cya tomorow all
[14:31] {BillyD} not like we couldn't wait on AA and had some place to go
[14:31] {nemo} frickin' musicians
[14:31] {larisa} lol
[14:31] {Threei} take care ese, great job
[14:31] {ese} tks
[14:31] {Threei} no kidding billy
[14:31] {jfjf64} later ese
[14:32] {BillyD} it didn't even hit the scalper stop vad
[14:32] {Threei} yeah, it just tired us out
[14:32] {BillyD} it would have probably done me some other psychological if I held it
[14:33] {BillyD} lol
[14:33] {BillyD} psychological damage
[14:35] {dino} sds l .65
[14:35] {nemo} Qs through their recent highs, SPY within spittin' distance
[14:40] {dino} stopped sds .-.15
[14:41] {dino} gap s/p 946
[14:42] {dino} 8799 dji gap
[14:46] {dino} fwiw downside gaps from tues. close 8359,1452,905
[14:52] {BillyD} strong mkt recovery for the last week
[14:56] {magoo} vad AIG?
[14:57] {Threei} remained quite inept during market move...
[15:00] {vinod} I have to start here, I can't see previous chat for today
[15:02] {Threei} dino, look dcc please
[15:03] {vinod} My idea of short rimm and AIG hasn't good
[15:03] {Threei} well... as we talked in the morning: if there is setup there is trade
[15:03] {Threei} if not - why would you short them
[15:03] {Threei} or long for that matter
[15:03] {Threei} don't trade out of general idea... that would be thinking
[15:04] {Threei} and thinking is not good for your trading
[15:04] {vinod} I usually take a note of what I feel and look at end what happen. good education for me
[15:05] {vinod} I know I need to be lie nemo. no thinking
[15:05] {vinod} look like he left for hte day
[15:06] {Threei} thinking is for analysts... they need to justify, to explain (post-fact as a rule, lol)
[15:06] {Threei} traders react on recognizable scenario developing
[15:08] {dino} sds l .50
[15:08] {BillyD} RIMM holding well
[15:08] {Threei} dino, look dcc please
[15:09] {dino} ok
[15:12] {dptl} have a good evening all
[15:12] {Threei} take care dp
[15:17] {cosmo} SNDK 17.77 hod fwiw
[15:18] {cosmo} needs to hold .60
[15:18] {cosmo} imo
[15:20] {Threei} Reminder: previously announced index changes go into effect after the close of trading today
[15:20] {Threei} - HR will replace WNC in the S&P600 index.
[15:20] {Threei} - CERN to replace JAVA in the NASDAQ-100 Index
[15:26] {BillyD} those news posts get psoted to room automatically?
[15:26] {larisa} hope not :)
[15:29] {Threei} no
[15:29] {BillyD} it is at your discretion then
[15:29] {dino} sds stopped
[15:29] {Threei} yes
[15:33] {Threei} was thinking of SNDK as short candidate, based on Cramer hyping it
[15:34] {Threei} I am too hesitant these afrenoons...
[15:36] {BillyD} what would your stop be
[15:36] {BillyD} .66
[15:36] {Threei} I thought of .70 breakdown witgh stop above high
[15:36] {BillyD} .70?
[15:36] {Threei} about 10 min ago
[15:36] {BillyD} whewwwwwwwwww
[15:38] {BillyD} when did Cramer comment
[15:39] {Threei} [10:42] {wulff} Cramer pushing SNDK big
[15:39] {dino} 3:40 release the hounds
[15:42] {BillyD} tomorrow otions day right?
[15:42] {BillyD} options
[15:43] {vinod} up up and up we go. see you monday. i am taking dayoff tomoroow
[15:43] {BillyD} enjoy vin
[15:44] {Threei} take care vinod
[15:44] {dino} cya vvin
[15:45] {dino} v
[15:46] {cosmo} i hear cramer screaming...
[15:46] {Threei} mags... see how AIG remains unaffected by market surge?
[15:50] {dino} as am i
[15:50] {Threei} lol
[15:51] {dino} this action is crazy, end of days on friday, and now euphoria rules, 8-10% weekly moves
[15:51] {magoo} vad..gun t pop up after reports?
[15:52] {Threei} shrug
[15:52] {Threei} yes
[15:57] {Threei} okay guys, thank you all
[15:58] {Threei} have a good evening
[15:58] {Threei} see you tomorrow
[15:58] {BillyD} cya
[15:58] {larisa} bye :)
[15:58] {jfjf64} later
[16:01] {Threei} GOOG Reports Q2 $5.36 v $5.09e, R$ (ex-tac) v $4.06Be
[16:01] {Threei} R$4.05B (ex-tac) v $4.06Be
[16:03] {Threei} Q2 paid clicks -2% q/q, +15% y/y
[16:03] {Threei} - Q2 international revenue $2.91B,