Dec 03 2009

Very nice day with quite a few calls, mostly on a short side. RIMM, AIG, WFC, most of them multiple shorts. Got the end of day selloff right too.

Session Time: Thu Dec 03 00:00:00 2009

[08:10] {Threei} (US) Preview: Initial Jobless Claims and Continuing Claims due out at 8:30amET

[08:10] {Threei} - Expectations for initial claims are 480K v prior release of 466K (range seen from 450K to 500K)

[08:10] {Threei} - Continuing claims seen at 5.400M v prior 5.423M (range seen from 5.350M to 5.550M)

06[08:11] * nemo slaps Threei around a bit with a large trout

[08:11] {Threei} why... oh why

[08:11] {nemo} it's congruent with my image

[08:11] {Threei} ok, that's reasonnable

[08:11] {nemo} ty

[08:11] {Threei} btw, half out NANO

[08:11] {nemo} gfy

[08:12] {Threei} +.45

[08:12] {nemo} You'll be asking to go home early today

[08:12] {Threei} very much so

[08:13] {Threei} offering 13.62

[08:13] {Threei} where are you unknown buyer

[08:13] {Threei} wake up

[08:14] {Threei} put your pants on, see my offer and click that buy

[08:15] {nemo} ag stocks continuing ascent..then again, everything continues

[08:16] {Threei} interesting... WFC is red

[08:16] {nemo} other financials?

[08:16] {Threei} BAC green

[08:16] {nemo} xlf green

[08:16] {nemo} iyf very green

[08:16] {Threei} GS, JPM, MS

[08:17] {Threei} reginals seriously green

[08:17] {Threei} FITB

[08:17] {nemo} ese will be in ecstasy

[08:18] {Threei} WFC seems to be the only one

[08:22] {Threei} NANI is printing above yesterday's high

[08:22] {Threei} NANO too

[08:24] {strider} long BAC 16.15

[08:25] {Threei} 5 min till unemployment numbers strider

[08:26] {strider} thx

[08:28] {strider} out flat

[08:28] {strider} dbl bot. turned into something else.

[08:29] {nemo} triple bottom?

[08:30] {Threei} US) Initial Jobless Claims: 457K v 480Ke; Continuing Claims: 5.465M v 5.400M

[08:30] {Threei} *(US) Q3 FINAL NONFARM PRODUCTIVITY: 8.1% V 8.5%E; UNIT LABOR COSTS: -2.5% V -4.1%E

[08:40] {Threei} did I get too greedy on second half NANO?

[08:41] {nemo} depends on what these volume spikes end up indicating?

[08:47] {BillyD} GM all

[08:47] {Threei} Billy :)

[08:50] {nemo} amzn up another $2

[08:57] {Threei} so, why didn't we all just listen to ese, buy 50K of FITB and sit and wait

[08:57] {strider} yeah, I did that......thought everyone did.

[08:57] {strider} DRYS looks good this morning.

06[08:58] * Threei slaps strider around a bit with a large roll of cash

[08:58] {strider} Well, I see who has a large roll of cash to play recklessly with.

[08:58] {Threei} lol

[08:59] {Threei} well, at least my NANO overnight is a consolation

[09:01] {strider} Deutsche Bank is positive on DryShips' exposure to the drillship charter environment and thinks the company's cash flow potential is being undervalued at current levels. Shares were initiated with a Buy rating and $10 target...

[09:01] {nemo} so sell

[09:01] {Threei} EU) ECB's Trichet: "absolutely no signal" can be inferred on benchmark rate from decision to keep 12 month repo at 1%; notes Bernanke's comments on US with utmost interest

[09:01] {Threei} - Decision on rates was unaimous, decision to phase out measures taken by consensus

[09:01] {Threei} - Looked at all possibilites on repo operations

[09:03] {fernp} Good morning everybody

[09:03] {nemo} that's arguable fern :)

[09:03] {Threei} fern :)

[09:05] {fernp} nemo, the optimist man :)

[09:06] {nemo} hehehehe

[09:06] {nemo} rimm forming a nice range

[09:07] {Threei} SPNC Granted FDA 510(k) clearance VisiSheath

[09:08] {Threei} Spectranetics Corp Granted FDA 510(k) clearance VisiSheath

[09:08] {Threei} - The VisiSheath Dilator Sheath may be used alone as an independent sheath for dilating tissue surrounding cardiac leads, or as an enhanced outer support sheath in conjunction with compatible inner sheaths such as Spectranetics Laser Sheath (SLS II), a laser-based system for removing problematic pacing and defibrillator leads.

[09:08] {Threei} - The newly FDA-cleared VisiSheath Dilator Sheath device will complement the laser-based system as an outer support sheath. Additionally, it will offer a non-laser option to mechanically dilate scar tissue for physicians who do not use laser assistance to manage all of their patients with lead complications.

[09:08] {Threei} let's see ese doing the victory dance

[09:10] {ese} morning

[09:10] {Threei} ese :)

[09:10] {ese} whats happening for this victorya dance

[09:10] {Threei} FITB... DRYS...

[09:11] {Threei} things go up

[09:11] {Threei} your things

[09:11] {nemo} nothing like a momentary power outage

[09:12] {ese} ahhhhhh....well i'm in drys but not fitb

[09:12] {Threei} oh well... half dance?

[09:12] {Threei} I'll do other hakf with NANO

[09:12] {ese} exited kerx yesterday end of day at .06 +.07

[09:14] {Moose} gm all

[09:14] {dino} gm all

[09:14] {Threei} moose, dino :)

[09:14] {ese} moose dino

[09:15] {Threei} East cost storm is coming

[09:15] {Threei} with snow

[09:15] {Threei} coast

[09:15] {dino} not in pa

[09:27] {strider} following AONE today

[09:27] {fernp} ASML nice C&H on daily

[09:27] {Threei} why AONE?

[09:29] {strider} because of long green bar a few days ago, then pull back, then consolidation. Looking at 15 min .chart

[09:29] {strider} may amoaunt to nothing.

[09:30] {strider} amount

[09:31] {nemo} BAC

[09:32] {Threei} Fed tests reverse repo operation

[09:32] {nemo} cat

[09:34] {ese} l cmcsk .86

[09:35] {dino} rino hl l .00

[09:35] {Threei} BAC pace went hysterical

[09:36] {Threei} RIMM, remarkable weakness

[09:36] {nemo} cat strong

[09:36] {Threei} watching for possible short setup

[09:37] {Threei} WFC too

[09:37] {Threei} Short Setup: WFC .45 break

[09:37] {ese} out cmcsk .87 .-01

[09:37] {ese} bad feeling there

[09:37] {fernp} 45?

[09:38] {ese} opps +.01

[09:38] {nemo} weird, market so strong

[09:38] {Threei} day low fern

[09:38] {fernp} i see

[09:38] {Threei} invalidated though

[09:38] {Threei} may reestablish

[09:38] {patience} happy birthday Vaddy :)

[09:39] {Threei} thank you :)

[09:39] {nemo} awwww....congrats old man

[09:39] {dino} rino stop is break of lod

06[09:39] * nemo shouldn't throw stones

[09:39] {fernp} happy birthday, Vad

[09:39] {Threei} thanks guys

[09:39] {dino} happy b-day vad, many more

[09:39] {BillyD} same here Vad

[09:39] {Threei} RIMM got away

[09:39] {lasertrev} gm, happy B day Vad

[09:39] {Threei} ty

[09:40] {nemo} aone

[09:40] {lasertrev} well you live in the right place to get old

[09:40] {Threei} 59.20 break looked too dangerous, could have snapped back sharply in usual morning vilatility

[09:40] {Threei} lol... true

[09:41] {Threei} Preview: Nov ISM Non-Manufacturing Composite due out at 10amET

[09:41] {Threei} **consensus expectation: 51.5e v 50.6 prior (estimates range between 50 and 53)

[09:41] {fernp} GTI, Vad?

[09:42] {Threei} a bit thin but setup is valid

[09:42] {Raven} Happy B-day youngster :)

[09:42] {Threei} thank you, lol

[09:44] {nemo} aone available to short on laser

[09:45] {nemo} nlst

[09:45] {dino} wag hl l .00

[09:47] {Threei} too bad SEED is not available

[09:47] {nemo} yeah, just looking at that

[09:47] {Threei} you got 1:1 GTI fern

[09:47] {fernp} yes

[09:47] {Threei} I already prepared SEED short call on .60 break earlier

[09:47] {Threei} then tested it

[09:49] {strider} long HUN .10, buyout chatter

[09:49] {strider} takeover

[09:50] {fernp} STP interesting for breakout

[09:50] {Threei} Long Setup: CREE .15 half lot

[09:50] {Threei} if stays above 52

[09:51] {dino} rimm gap around 58, from monday

[09:51] {Threei} Short Setup: RIMM .80

[09:52] {ese} cree invalid

[09:52] {ese} pulled my buy

[09:52] {strider} stop rimm?

[09:52] {dino} rino stopped -.30

[09:53] {Threei} .95 or 59

[09:53] {strider} in, half lot

[09:54] {Threei} not a scalp if works

[09:54] {fernp} triggered?

[09:54] {Threei} not yet

[09:54] {Threei} but should

[09:54] {Threei} and has nice potential

[09:55] {strider} toudched .80

[09:55] {strider} that was trigger.

[09:55] {Threei} die RIMM

[09:57] {Threei} White House: Unemployment data tomorrow may tick upward

[09:57] {Threei} - Note: Oct Unemployment rate stood at 10.2%, with current estimates for Nov unemployment at 10.2%

[09:58] {strider} only took +.07 on HUN, back exit.

[09:59] {strider} bad

[09:59] {Threei} bidding half .61

[09:59] {fernp} .62 here

[10:00] {ese} L gern .04

[10:00] {Threei} US) NOV ISM NON-MANUFACTURING COMPOSITE: 48.7 V 51.5E

[10:00] {strider} out +.15

[10:00] {dino} gj

[10:00] {strider} only meant to do 1/2....didn't change volume. :)

[10:01] {fernp} out TY

[10:01] {Threei} welcome

[10:01] {Threei} my turn

[10:01] {Threei} covered half

[10:01] {Threei} bidding 1/4 .45

[10:01] {BillyD} nice one Vad, ty

[10:01] {Threei} if I am too greedy, so be it

[10:01] {Threei} billy :)

[10:02] {dino} otex

[10:02] {fernp} DRYS db, Vad?

[10:03] {Threei} .45 break, yes

[10:03] {Threei} come on RIMM

[10:03] {Threei} you can do better

[10:04] {dino} s/p gap fill, dji too

[10:04] {Threei} make me proud of that blackberry

[10:04] {Threei} which grows all over thr place here

[10:05] {Threei} nice chart fern

[10:05] {Threei} let's make it official

[10:05] {Threei} Long Setup: DRYS .45 break if stays above .40

[10:05] {Threei} look how RIMM held trailing stop so far

[10:05] {Threei} 1 cent precision

[10:06] {Threei} amazes me when they do that

[10:07] {Threei} well, either double bottom or continuation for me

[10:07] {nemo} DE vad, weird

[10:08] {dino} rino last try hl l .50

[10:08] {Threei} .35 break DE...

[10:08] {Threei} probabkly worth a try

[10:09] {strider} stop bellow .30?

[10:09] {Threei} or .25

[10:09] {Threei} personal choice

[10:10] {Threei} okay RIMM

[10:10] {Threei} breakeven on second half

[10:10] {dino} out rino .80, +.30

[10:11] {Threei} dump DRYS

[10:11] {Threei} market tripped of something

[10:12] {Threei} lol RIMM

[10:12] {fernp} dumped

[10:12] {Threei} NOW you drop?

[10:12] {Threei} in one swoop, right into my second intended partial zone

[10:13] {Threei} sneaky bastard

[10:14] {strider} DRYS still valid?

[10:14] {Threei} I doubt it

[10:15] {dino} otex hl s .50

[10:15] {dino} .49

[10:15] {Threei} RIMM{ this is where I would be covering last part

[10:15] {Threei} for a sweet 50 cents

[10:16] {dino} going for that gap imo

[10:16] {strider} persistent buyer at.30, DE

[10:16] {dino} otex bstop is .81 fwiw

[10:20] {nemo} this is wild in DE

[10:21] {strider} I think ese's accumulating.

[10:22] {Threei} (US) Fed's Bernake: Exit strategy will support jobs and price stability, must be ready to withdraw stimulus in a timely manner

[10:22] {Threei} - Must take care that Fed remains independent and effective. Fed is committed to accountability and transparency.

[10:22] {Threei} - The exemption of monetary policy from audits was created to avoid political pressure.

[10:22] {Threei} - Believes joblessness may stay high even while growth improves.

[10:22] {Threei} - Most indicators suggest that financial markets are improving.

[10:22] {Threei} - Fed was greatly aided by regional structure in dealing with crisis.

[10:23] {dino} cov otex .22, +.27

[10:23] {fernp} I am not in DE, still good moment to enter, Vad?

[10:23] {ese} ese is

[10:24] {Threei} too narrow for my taste fern

[10:24] {fernp} ty

[10:25] {dino} kss

[10:25] {Threei} Short Setup: RIMM .50 break

[10:25] {Threei} oops

[10:25] {Threei} too fast

[10:25] {dino} hl l .90

[10:25] {dino} kss

[10:25] {ese} who ever this ese guys is st....i know he added some more drys yesterday at .25 shhhhhhhhhhhhh

[10:26] {dino} stop is .59

[10:26] {fernp} stop .61?

[10:26] {Threei} if sets up again, yes

[10:26] {nemo} frickin' de water torture

[10:30] {Threei} US) White House Press Sec Gibbs: Under many options being discussed, looking at using TARP funds for a jobs bill

[10:30] {Threei} what, they intend to start new companies with those funds?

[10:31] {ese} gern is either gonna give it a go here or bite the big one

[10:31] {Threei} idiots... goverment cannot create additional jobs by definition

[10:31] {Threei} how hard is it to understand?

[10:32] {strider} stop on RIMM vad?

[10:32] {Threei} above .60

[10:33] {Threei} wow... amazing sunrise out of my window

[10:33] {dino} tax cuts create jobs, idiots

[10:33] {dino} must be your b-day

[10:34] {Threei} how did you guess

[10:34] {nemo} DE should be getting stops run soon

[10:35] {Threei} Fed's Bernanke: Removing Fed from bank supervisory role would be a mistake due to its 'unique' expertise - Q

[10:35] {nemo} yeah, sophisticated raping and pillaging

[10:35] {Threei} no doubt... unique expertise in debasing the currency, conducing inflation and transferring wealth from individuals

[10:36] {Threei} almost 100 years in training

[10:36] {Threei} 1:1 RIMM

[10:36] {fernp} ty

[10:36] {nemo} wow the phantom buyer at .30 on DE again

[10:37] {Threei} {Phantom Buyer} yes, that's me... finished with opera, decided to try myself at this trading thingy...

[10:37] {Threei} RMBS Hearing strength being attributed to rumor ECB could make an announcement today on royalty rates for DRAM controllers (19.61, +1.02, 5.49%)

[10:37] {BillyD} ty RIMM again

[10:37] {Threei} welcome

[10:37] {BillyD} now die GERN

[10:37] {strider} out RIMM, thx

[10:38] {Threei} {fern} I used to hate RIMM

[10:38] {fernp} out RIMM flat, I was stopped one time and 1:1 in this occasion :-)

[10:38] {strider} stopped DE,,,, good riddance.

[10:38] {fernp} i still hate it

[10:38] {Threei} lol

[10:40] {strider} WFC dying

[10:40] {strider} good...maybe they won't want my mortgage payment this month.

[10:40] {fernp} i was watching PFG for a breaout, and suddenly it started to drop, drop and drop... and still is dropping. I don't see any news

[10:41] {strider} : Lincoln National, Prudential tick lower following Principal Financial's outlook :theflyonthewall.com

[10:42] {fernp} i am happy not to have entered...

[10:42] {dino} pfg guidance for 2010

[10:42] {fernp} ty guys

[10:43] {Threei} strider, re: mortgage payment... one of famous russian sayings in loose translation:

[10:43] {Threei} Blessed be the believer

[10:43] {strider} long WFC .43, stop lod

[10:43] {nemo} mon collapsed

[10:44] {dino} 80.80 gap on it

[10:44] {Threei} better yet:

[10:44] {Threei} Blessed be a Believer for it is warm for him on Earth

[10:45] {nemo} and in hell

[10:45] {strider} out WFC +.10

[10:45] {dino} apol hl l .11

[10:45] {Threei} ok, now that strider is out, let's look for short entry

[10:45] {dino} stop .83

[10:46] {strider} thank you.

[10:46] {Threei} :)

[10:46] {strider} I purshate that

[10:46] {Threei} on serious note, if it comes to .60 I would start looking

[10:46] {ese} billy ...your short Gern? I'm long...... looks like we got some GERN warfare going on yuk yuk yuk

[10:46] {BillyD} yes short

[10:47] {BillyD} my stop is 6

[10:47] {BillyD} trying for fills at .01, no go

[10:47] {ese} l .04

[10:48] {strider} gern warfare...omg

[10:48] {BillyD} GERn becomes hateable again

[10:48] {Threei} USD/CAD CAD weakness partially attributed to chatter of a bearish think-tank report

[10:48] {Threei} god bless that think tank

[10:48] {dino} nke hl l .99, stop lod

[10:48] {Threei} BAC Fed's Bernanke comments that its a "good thing" that BoA is paying back the TARP; notes most of the problems during the financial crisis were outside of the bank holding companie

[10:49] {fernp} WFC

[10:49] {nemo} 1/2 out de

[10:49] {Threei} ok, next resistance is .70,

[10:49] {ese} i thought it was witty S

[10:49] {ese} ST

[10:49] {nemo} out other half +.15

[10:49] {Threei} so what we want for short is

[10:49] {BillyD} out gern, gl ese

[10:49] {Threei} couple moves between .60 and .70,

[10:49] {ese} tks

[10:49] {Threei} not going over .70 and losing .60 for a trigger

[10:50] {Threei} CNBC reports White House's Gibbs says it is incorrect to state that it expects unemployment to rise tomorrow

[10:50] {Threei} - CNBC reports the White House has not seen the numbers in advance

[10:50] {fernp} valid now?

[10:51] {dino} like a bunch of school kids, he said she said

[10:51] {Threei} hard to tell fern...

[10:51] {Threei} I'd prefer a bit more pronounced staying above .60 prior to break

[10:51] {Threei} this is unclear

[10:51] {fernp} let's wait a bit more

[10:55] {dino} out ksszoll drop

[10:55] {Threei} wow... DE worked finally for you guys

[10:55] {nemo} yeah

[10:55] {dino} kss was at .10, +.20

[10:55] {Threei} wtg

[10:55] {strider} grumble..grumble..

[10:55] {nemo} got .15, but the water drops drilled a divot in my forehead

[10:55] {dino} zoll

[10:55] {nemo} bow to zoll

[10:55] {dino} thinny

[10:55] {Moose} lol

[10:55] {Threei} oh boy... nemo...

[10:56] {nemo} what

[10:56] {nemo} ?

[10:56] {Threei} takes all my strength to keep all the jokes that provoked

[10:56] {nemo} which line?

[10:56] {strider} CXM

[10:56] {Threei} water drops and forehead

[10:56] {nemo} oh go ahead

[10:56] {Threei} nah, too easy

[10:57] {nemo} c'mon

[10:57] {nemo} rimm C&H maybe, looking for volume confirmation above .90

[10:58] {BillyD} SOMX for short oof .60

[10:59] {strider} WFC now c&h

[10:59] {Threei} yes, don't see it as a short anymore

[10:59] {ese} L gern .99 avg .01

[11:01] {dino} gme hl l .74

[11:03] {dino} stop is .47

[11:04] {nemo} w low of .66 how do you get .47 dino?

[11:05] {fernp} DRYS wouldn't have worked. That's is a good call too, Vad :-)

[11:05] {dino} my usual of .25-.35

[11:05] {Threei} yeah, sometimes they just don't give out right vibe

[11:06] {Threei} generally I hate to intrude into natural process and use discretion in what should be decided by market

[11:06] {dino} plus nemo, hl, so stop is automatically wider. fl would be lod

[11:06] {Threei} this was one of rare exceptions

[11:06] {nemo} ty dino

[11:06] {fernp} yeah, this time worked fine :)

[11:06] {dino} np buddy

[11:08] {ese} gern you turd.....how dare you fill someones 100k order over making me a small profit....what kinda business is this anyway

[11:08] {dino} trickery

[11:08] {ese} still L .01

[11:08] {nemo} damn speculators

[11:09] {ese} ya ehhhh!

[11:10] {dino} fslr moving

[11:10] {Threei} BAC To reportedly sell common equivalent shares later today due to strong interest

[11:10] {Threei} hmmm

[11:10] {Threei} short at will?

[11:10] {ese} that thing trades with huge spreads dino......crazy

[11:10] {nemo} common equivalent...wtf is that?

[11:10] {Threei} Fed's Bernanke: Fed will not monetize the debt; US cannot continue to run high deficits; will maintain strong commitment to price stability; thinking a lot about exit strategy

[11:10] {Threei} - says US deficit needs to be in 2-3% of GDP range over time

[11:10] {Threei} - notes that the Fed may not be able to halt the increse in real interest rates if the deficits remain high; debt to GDP ratio cannot move higher indefinitely and must come down

[11:10] {Threei} - claims that some deficits are not permanent, but others may become so if entitlement spending is not addressed

[11:10] {nemo} yeah, ese, dino's kinda' stock

[11:11] {ese} i like the wft.......very appropriate here

[11:12] {fernp} ME 38 break, Vad?

[11:12] {nemo} what stock fern?

[11:12] {dino} what stock?

[11:12] {fernp} MEE

[11:13] {nemo} oooohhhhhhhhh

[11:13] {fernp} sorry

[11:13] {Threei} yeah

[11:13] {nemo} de nada

[11:13] {Threei} a bit thin

[11:13] {dino} pfg getting interesting

[11:14] {fernp} stop below .89, no?

[11:15] {Threei} yes

[11:15] {fernp} out

[11:15] {dino} mee court case or something

[11:17] {Threei} US House Speaker Pelosi: Unused TARP capital will be used to pay for job package

[11:17] {Threei} - Note: This option was hinted to earlier as among the options for TARP monies

[11:17] {Threei} what job package...

[11:17] {Moose} geeze

[11:17] {Moose} :/

[11:18] {dino} the ones at gm, lol

[11:19] {Threei} this gang won't quit until they destroy everything there is to destroy

[11:19] {ese} dino or anyone.....do you think rimm is gonna cover that gap down to 49

[11:19] {BillyD} needs to break 55 first imo ese

[11:20] {ese} for sure

[11:20] {BillyD} then I could tell for SURE.....lol

[11:20] {BillyD} I wish

[11:20] {ese} lol yup

[11:21] {dino} yes, by march

[11:21] {ese} hmmmmm ok i'll bite.......why then

[11:21] {fernp} WFC interesting if losses .40

[11:22] {nemo} cat could be shaping up short here

[11:22] {dino} imo, the economy sucksv right now. they are cheering 490k job losses? remember when we used to add jobs and cheer, not lose and cheer. who can buy anything. but this is just what i see

[11:23] {dino} poconos is tight

[11:23] {ese} better reason than i have........

[11:24] {dino} what is yours?

[11:24] {dino} i suppose it could be as simple as why not?

[11:25] {ese} well maybe not better different........

[11:25] {ese} will type it out

[11:26] {ese} i kinda see this as a different industrial revolution for you all.......instead of it being about machines.....it's about intelectual property and high tech....

[11:26] {ese} work force has to shift....meaning re education

[11:26] {Threei} (IS) Bank of Israel's Fischer: For a prosperous global recovery the USD must weaken (related USD/ILS )

[11:27] {Threei} hmmm... the rest of the world think otherwise, Fischer

[11:27] {ese} those same jobs that have been lost ain't in my opionion coming back

[11:28] {ese} but thats doesn't mean your economy is going to suffer......which it looks like it is not.......jobs arne' there for sure but companies are being profitable

[11:29] {ese} theses a shift going on..........imo.......

[11:29] {Threei} what to do with millins who have no job anymore?

[11:29] {Threei} millions

[11:29] {dino} no jpbs=mtg defaults=welfare increases=higher taxes=,=,=. but what will people do. govt(democrats) wants perpetual handouts. i am a supply-sider. cut taxes and get out of the way

[11:29] {Threei} they have to eat

[11:30] {Threei} they lose homes

[11:30] {fernp} WFC breakingdown

[11:30] {ese} Andy Kesslers book...Rinning With The Bulls....is very detailed on this topic and so far what he's predicted is coming to fruition

[11:30] {Threei} their spending used to support a lot of businesses

[11:31] {ese} can't do anything with them vad.....they have to re educate themselves

[11:31] {ese} you can try and support them until they do

[11:31] {BillyD} out 1/2 somx +.08

[11:31] {dino} there is a shift, but our clowns don't get it. they want people depending on the govt. that way they keep there jobs. even this last election was won that way, the cities (lots of welfare) voted obama, everywhere else was mccain

[11:32] {Threei} reeducate to do what? no field is hiring

[11:32] {Threei} and there is a reasonable age limit to total change of profession

[11:32] {nemo} this whole decade was driven by debt

[11:32] {dino} so is atlas shrugged ese. at some point the destroyer will start showing up.

[11:32] {nemo} 2012

[11:32] {Moose} { John Gault

[11:33] {ese} well........we made it through the industrial revolution......something similar should happen here......what that is i don't know

[11:33] {dino} indeed moose

[11:33] {nemo} that was a huge boost in productivity ese

[11:33] {nemo} What's always interested me is cycles.

[11:33] {nemo} You cannot expand and grow forever

[11:33] {ese} this is one for sure

[11:33] {dino} same thing happened in 70s. taxes too high, wealthy stopped. until reagan came along and get them excited about making money again

[11:34] {ese} cycle that is

[11:34] {nemo} 70's was because of Vietnam and gold default

[11:34] {nemo} huge debt and shift completely to fiat

[11:34] {dino} all the dems talk about is hitting the rich. the rich will walk away. be careful for what you wish

[11:35] {dino} fact is lower taxes increases tax receipts

[11:35] {nemo} jeez dino...remember when I mentioned mon collapse...look at it now...oops

[11:36] {fernp} out WFC +.10

[11:36] {Threei} good one fern

[11:36] {dino} ok, back to work

[11:36] {dino} gj fern

[11:37] {fernp} i'm flat for the day Vad. I need one of your super calls and I will sing for you happy birthday lol

[11:38] {Threei} then I have to ask: do you sing well?

[11:38] {fernp} nope

[11:38] {Threei} because if you sing like I do, I better don't hear that {G}

[11:38] {Threei} wow

[11:38] {Threei} what just happened

[11:39] {Threei} Short Setup: RIMM 59 break

[11:39] {dino} nke stopped -.31

[11:40] {Threei} stop above .15

[11:40] {Threei} for hard core scalpers .10

[11:42] {nemo} rimm runs into the 200 ma around .15

[11:42] {BillyD} My entries are too early today

[11:44] {nemo} fcx might be a short if it holds under .70

[11:44] {BillyD} out rest SOMX up tp +.11

[11:45] {nemo} I mean mon

[11:45] {dino} gj

[11:45] {BillyD} ty

[11:45] {dino} my exits are late, had .20 in nke, rino, and wag, didn't take them

[11:45] {Threei} RIMM is likely to trigger now

[11:45] {Threei} won't be a scalp for me

[11:46] {ese} s rimm .00

[11:46] {Threei} still holding support...

[11:46] {Threei} why not wait for break

[11:47] {ese} yup

[11:47] {ese} agressive entry

[11:47] {BillyD} yeah, it got me earlier with early entry

[11:47] {Threei} aggressive entry closer to resistance (in case of short) gives you tighter stop and better profit potential

[11:48] {ese} ya am thinking that right now

[11:48] {Threei} entry right near the trigger doesn't... while carries the shortcomings of aggressive entry,

[11:48] {BillyD} we missed SQNM

[11:48] {Threei} i.e., less odds of working

[11:48] {Threei} ugh

[11:49] {ese} am totally agreeing with you

[11:49] {Threei} Fed Chairman Bernanke: It is imperative that Congress develope a solution to the "too big to fail" issue

[11:49] {Threei} what solution... apply anti-monopoly law, let them fail

[11:50] {Threei} Fed extended support to companies extremely reluctantly.

[11:50] {Threei} - GSEs are particular problems that must be addressed.

[11:50] {Threei} - TARP has served its purpose, now needs to be unwound.

[11:50] {Threei} - Sees TARP breakeven to in the red on payouts to financial companies.

[11:50] {ese} was watching qqqq's and it looked like a breakdown there and so i went with it

[11:51] {nemo} I gotta frickin' go and RIMM looks like it's going to trigger

[11:52] {ese} buggar it covered.99 +.01

[11:53] {ese} too damn quick

[11:53] {dino} trgt strange, signs deal and drops

[11:54] {nemo} c u guys tomorrow.. P&Q

[11:54] {Threei} take care nemo

[11:54] {Moose} cya nemo

[11:54] {fernp} bye nemo

[11:54] {ese} cya nemo

[11:54] {dino} cya nemo

[11:55] {strider} see ya

[11:57] {Threei} can't believe we forgot about SQNM

[11:58] {BillyD} yeah

[11:58] {dino} trgt sm l .23

[12:00] {strider} ah, the dino setup...trgt

[12:00] {Threei} Short Setup: AIG .50 if stays below .60

[12:03] {dino} lol

[12:04] {dino} esi drop

[12:04] {Threei} wow... who remembers RIMM this narrow for this long

[12:04] {BillyD} not me

[12:05] {BillyD} stubborn here

[12:05] {Threei} HGSI Today's strength partly attributed to a Bernstein note speculating that Amgen might be interested in HGSI acquisition (28.81, +1.35, 4.92%) (related AMGN GSK )

[12:05] {strider} I'm out RIMM avg. +.04, from entry at .07

[12:05] {strider} gotta go soon.

[12:06] {Threei} what's with everyone leaving early

[12:06] {Threei} wait, don't answer

[12:06] {Threei} let me think you all go celebrate my birthday

[12:06] {dino} trgt to .63

[12:06] {strider} I'm closing down a business right now...should have it wrapped up in a week. Then I'm all yours, vad.

[12:07] {fernp} AIG invalidated? printed .63

[12:07] {Threei} now tell me, you are blonde, female, 6.1, etc

[12:07] {Threei} yeah

[12:07] {strider} how'd you know.?

[12:07] {Threei} wishful thinking

[12:07] {strider} the 6'1" is right.

[12:07] {Threei} lol

[12:08] {fernp} Vad!! your boots, please

[12:08] {Threei} they are yours

[12:08] {Threei} use them as you please

[12:08] {dino} trgt to .73

[12:10] {strider} See y'll tomorrow.

[12:10] {Threei} take care strider

[12:10] {fernp} bye strider

[12:12] {fernp} if RIMM is acting this slow way, what should be doing FITB?

[12:12] {dino} cya stride

[12:12] {dino} trgt to .83

[12:12] {Threei} FITB should trade in .000001

[12:12] {fernp} lol

[12:14] {dino} out .83 trgt, +.60

[12:14] {Threei} wtg

[12:14] {dino} ty

[12:15] {Threei} RIMM 1:1

[12:15] {Threei} believe it or not

[12:16] {Threei} covering half

[12:16] {Threei} +.15

[12:16] {BillyD} out but don't understand your 1:1 math

[12:16] {Threei} scalpers be happy

[12:16] {Threei} hmm?

[12:16] {BillyD} stop was .15 right

[12:16] {Threei} it's not even math

[12:16] {BillyD} so around .85

[12:17] {Threei} .10 for scalopers

[12:17] {Threei} .15 for day traders

[12:17] {BillyD} sorry, didn't see that part of call

[12:17] {Threei} 11:40] {Alert} Threei stop above .15

[12:17] {Threei} [11:40] {Alert} Threei for hard core scalpers .10

[12:18] {BillyD} giving you a hard on on your birthday just isn't right

[12:18] {Threei} it's rather calculus than algebra {G}

[12:18] {BillyD} BTW, TY for RIMM

[12:18] {Threei} there... I bite right back

[12:18] {Threei} welcome, lol

[12:18] {BillyD} lol

[12:19] {dino} mflx

[12:19] {dino} should've held trgt

[12:21] {Threei} AIG doesn't go up with market

[12:21] {Threei} let's see if it re-validates

[12:22] {Threei} I think it is

[12:22] {Threei} either same setup, or just .65 stop

[12:22] {Threei} personal choice

[12:24] {Threei} how about one of your famous drops AIG

[12:25] {fernp} .50 break w/stop above .65 is the play, no?

[12:25] {Threei} .60 or .65

[12:25] {Threei} [12:22] {Threei} personal choice

[12:31] {fernp} PAYX 32.10 breakdown? or too many short plays for lunch time?

[12:31] {Threei} why not

[12:32] {Threei} if market drops, PAYX looks good

[12:32] {Threei} a bit narrow, but stop is small

[12:32] {fernp} 5 cents stop

[12:32] {Threei} yup

[12:40] {Threei} oh well

[12:40] {fernp} out

[12:40] {Threei} not this time

[12:41] {dino} rino nears lod

[12:42] {Threei} (US) House Speaker Pelosi: Tax on financial transactions (Tobin Tax) has a great deal of merit

[12:42] {Threei} ***Reminder: Back on 11/24 thehill.com reported that House Democrats were drafting a 0.25% tax on all financial transactions, aiming to raise $150B/year.

[12:43] {dino} it will put me out of business i fear

[12:44] {patience} come trade on the tsx dino

[12:44] {dino} have to change to low priced or options

[12:44] {Threei} you and whole financial industry

[12:45] {dino} i may have too patience. these politicians will move the center of the financial world on this idea

[12:45] {Threei} they insist on the whole world doing that dino

[12:46] {dino} then tsx will not help me

[12:46] {Threei} danger to lose exchanges was the first thought when they started talking about it

[12:46] {Threei} so they stated it's a possibility if everyone does it

[12:46] {Threei} so expect attempt to push europe and canada

[12:46] {Threei} europe is not much of a resiastance

[12:47] {Threei} they are open to this idea

[12:47] {patience} can't see canada approving vad....too conservative a country to do this

[12:47] {dino} the politics of envy. you have it, i want it but don't know how to get it, so i'll destroy it

[12:47] {Threei} then it won't be implemented - unless USA lost its mind completely

[12:48] {Threei} and if it will, Canada will become financial center of the wetsern world in a flash

[12:48] {dino} let's hope it doesn't pass

[12:49] {Threei} I can see listings and brokerages moving to Canada within months

[12:50] {dino} of course, only the bad mgt would list in canada

[12:50] {dino} would not

[12:50] {dino} so the nyse would have, c, gm, and aig left

[12:51] {dino} hmmm, thought i'd get a laugh out of that, the govt owns them

[12:51] {Threei} you would if not for AIG

[12:52] {Threei} AIG we need

[12:52] {Threei} FRE and FNM they can have

[12:52] {dino} next will be you cannot leave your job if you have one

[12:53] {dino} because we need the taxes

[12:53] {Threei} why not... not working was illegal in USSR

[12:53] {Threei} you would go to jail for not working

[12:54] {Threei} remember the poet Brodsky?

[12:54] {dino} no

[12:55] {Threei} famous poet, Nobel prize

[12:55] {Threei} Soviet originally, moved to US

[12:56] {Threei} he was actually sent to prison for not having any offial line of work

[12:56] {dino} atlas shrugged

[12:56] {fernp} not working was illegal? how was that possible? incredible

[12:57] {Threei} USSR was incredible

[12:58] {Threei} http://en.wikipedia.org/wiki/Joseph_Brodsky

[12:58] {Threei} In 1963, he was arrested and in 1964 charged with parasitism by the Soviet authorities. A famous excerpt from the transcript of his trial made by journalist Frida Vigdorova was smuggled to the West:

[12:58] {Threei} Judge: And what is your profession, in general?

[12:58] {Threei} Brodsky: I am a poet and a literary translator.

[12:58] {Threei} Judge: Who recognizes you as a poet? Who enrolled you in the ranks of poets?

[12:58] {Threei} Brodsky: No one. Who enrolled me in the ranks of humankind?

[12:58] {Threei} Judge: Did you study this?

[12:58] {Threei} Brodsky: This?

[12:58] {Threei} Judge: How to become a poet. You did not even try to finish high school where they prepare, where they teach?

[12:58] {Threei} Brodsky: I didnt think you could get this from school.

[12:58] {Threei} Judge: How then?

[12:58] {Threei} Brodsky: I think that it ... comes from God.[

[12:59] {Threei} For his "parasitism" Brodsky was sentenced to five years of internal exile with obligatory engagement in physical work and served 18 months in the Archangelsk region. His sentence was commuted in 1965 after protests by prominent Soviet and foreign literary figures

[13:04] {Threei} PAYX is a water torture stock fern

[13:04] {BillyD} it seems to be theme for most of day vad

[13:05] {fernp} I missed the entry... I guess I was looking at other thing

[13:05] {Threei} 1:1 meanwhile...

[13:06] {nemo} back

[13:06] {nemo} awiav

[13:07] {Threei} PAYX

[13:07] {Threei} over actually

[13:07] {Threei} just wanted to tease you with the play you missed

[13:07] {nemo} great

[13:12] {fernp} FAS is breaking down

[13:18] {Threei} I am tempted to call FAZ long

[13:18] {Threei} but honestly, it's 50/50

[13:19] {fernp} call it

[13:19] {fernp} pullback with low vol

[13:20] {BillyD} Vad, what % of working do you consider it worht taking vs say a 50/50

[13:21] {Threei} Fed's Beranke: Unclear what impact, if any, ending the asset purchase program will have on mortgage rates; prepared to review the MBS purchase program (related TLT SHY EUR/USD GBP/USD USD/JPY XLF XHB )

[13:21] {Threei} well, I don't have any scientific way to define the %

[13:21] {Threei} when I say 50/50, I simply mean I have no way to tell whether one direction is more likely than the other

[13:21] {BillyD} ok

[13:22] {Threei} well, .65 is break fern

[13:25] {nemo} hig at low

[13:26] {Threei} very hard to tell gut feel from acid reflux today

[13:26] {dino} have some cheese cake vad

[13:26] {dino} 'thats what i have on my b-day

[13:26] {Threei} single malt appeals to me more

[13:27] {dino} lol

[13:27] {BillyD} how about some trout

[13:27] {Threei} with single malt??

[13:27] {Threei} that's a perversion

[13:27] {BillyD} hint: slap

[13:28] {Threei} I know... I just hope pretending I don't inderdtand will save me

[13:28] {BillyD} lol

[13:28] {dino} sm l esi .91

[13:29] {BillyD} AIG now falls

[13:30] {dino} med

[13:31] {fernp} please, sell 1000000 shares of FAS Vad

[13:34] {BillyD} mau try AIG if loses .40 and holds .50

[13:34] {BillyD} may

[13:38] {fernp} no go FAZ

[13:51] {Threei} whole fight today occures within 15 points NQ

[13:52] {Threei} amazed we found what did

[13:52] {fernp} VSEA if breaks 33 ...

[13:52] {nemo} actually, some of the large caps have taken beatings

[13:52] {nemo} relatively

[13:52] {nemo} look at pru mon range on fcx tck

[13:52] {Threei} guess who is on TV

[13:53] {nemo} Shalom Harlow

[13:53] {Threei} good to see the pause... you are running out of names

[13:53] {dino} melissa joan hart

[13:53] {Threei} and you dino - you wish

[13:53] {nemo} no, I was waiting on intuitive inspiration

[13:53] {Threei} oh

[13:53] {Threei} that's acid reflux

[13:54] {nemo} look at v

[13:54] {Threei} I better look at melissa joan hart

[13:55] {nemo} she won't make you money

[13:57] {fernp} INTC trying to break 20

[13:59] {Threei} what's with VVUS today...

[13:59] {dino} :)\

[14:00] {Threei} US VP Biden: White House considering tax incentives among options for job creation - jobs summit

[14:00] {Threei} - highlights that the White House itself is limited when it come to creating jobs

[14:00] {Threei} wow

[14:00] {Threei} do I hear common sense coming from WH???

[14:01] {Threei} - Follow Up: US Pres Obama comments that is open to any idea to help job creation; curious to speak to leaders to determine what is holding back business investment

[14:01] {nemo} I thought he was smart

[14:02] {Threei} I can stisfy his curiousity

[14:03] {Threei} constant threat of new and new taxes from each and every direction: carbon tax, income tax, war tax, tobin tax, health premiums

[14:03] {Threei} what sane businessman would expand hearing that even at best of times?

[14:03] {nemo} so many of current workforce are relatively part-time

[14:05] {Threei} add union cards

[14:05] {Threei} and general unfriendly to business mindset being propagated

[14:05] {Threei} and you havw business hunkering down

[14:06] {fernp} out INTC +.05 and VSEA +.09. almost flat again. I still need your super call Vad

[14:06] {Threei} I dilligently look at each symbol spit by scanner

[14:08] {fernp} it's your b-day. Rest a bit and take pics

[14:10] {Threei} Fed's Bernanke: Planning "rolling exit process," wherein asset buys taper off and ending with policy tightening

[14:10] {Threei} if ben wanted to be of any use, he would add: tomorrow

[14:10] {Threei} we would have shorted everything

[14:10] {Threei} and got stinkin' rich today

[14:11] {Threei} instead he says:

[14:11] {Threei} - Communication and timing of exit strategy are difficult

[14:11] {ilana} RIMMpossible .02 break, if stays in the current range?

[14:12] {Threei} RIMM has total "short me" look

[14:12] {Threei} .10 closest resistance

[14:12] {ilana} yup, forgot to mention short

[14:18] {nemo} lucky I got that .15 out of DE.

[14:18] {Threei} look at AIG

[14:18] {BillyD} yeah

[14:18] {BillyD} had right direction

[14:18] {dino} gme stopped

[14:19] {dino} -.27

[14:20] {Threei} does it feel like eod will bring real selloff to ayone?

[14:20] {Threei} RIMM 1:1

[14:20] {Threei} good spot ilana

[14:21] {fernp} out RIMM. ty ilana / Vad

[14:21] {Threei} {fern} I don't hate RIMM anymore

[14:21] {Threei} {fern} RIMM, will you ever forgive me

[14:21] {fernp} well, but I hate AIG

[14:21] {Threei} lol

[14:21] {Threei} you just love to hate something

[14:21] {nemo} hah, frickin DE

[14:21] {fernp} i need it

[14:22] {Threei} RIMM{ 4 short plays today

[14:22] {Threei} all 4 worked

[14:23] {fernp} yes, that's true, but today RIMM is moving slower than usual

[14:23] {fernp} i find easier to trade it

[14:23] {Threei} yes... everything is though

[14:29] {nemo} aig short under 30.00

[14:29] {Threei} most likely, yes

[14:29] {nemo} big order at that level

[14:29] {Threei} and I do feel seloff coming

[14:30] {nemo} although, we have DB volume here

[14:30] {Threei} gbreat

[14:30] {nemo} rimm at important level too

[14:30] {Threei} third attemot if successful will have good chance of working

[14:32] {nemo} there was an order for 230 lots at 30

[14:34] {fernp} WFC 27

[14:35] {Threei} Short Setup: AIG 30 break

[14:39] {nemo} out rimm .65

[14:39] {Threei} from where?

[14:39] {nemo} .79

[14:40] {nemo} Ahhh fern's regret

[14:40] {fernp} good one nemo

[14:40] {nemo} lucky

[14:40] {nemo} I'm not flowing this week

[14:40] {Threei} RIMM Hearing OTR Global Research making cautious comments (timing uncertain) (58.62, -1.19, -1.99%)

[14:40] {nemo} need to do a mushroom trip

[14:40] {nemo} not

[14:41] {nemo} now I really have to go. definite not till tomorrow . gnite all

[14:41] {fernp} bye nemo

[14:41] {BillyD} cya nemo

[14:41] {Threei} - firm is saying that RIMM is being forced to cut 20% access fees to carriers.

[14:42] {Threei} well AIG

[14:42] {Threei} are you game this time?

[14:42] {Threei} {AIG} I so am

[14:43] {fernp} stop .11?

[14:43] {Threei} it topped at .13

[14:44] {Threei} oh come on

[14:45] {dino} cya nemo

[14:46] {ilana} hate ths animal..

[14:46] {Threei} US) House passes bill to make estate tax permenant (update)

[14:47] {Threei} congratulation to heirs

[14:47] {Threei} - The legislation protects estates under $3.5M, or $7M for married couples, from the tax. It taxes inherited wealth above that amount at 45%.

[14:47] {Threei} - bill still must move to the Senate

[14:47] {dino} i think it was set to go to zero next year

[14:48] {Threei} 45%

[14:48] {Threei} {AIG} ilana, I demand an apology

[14:48] {fernp} fern is out at .90 TY and good night :-)

[14:48] {Threei} wtg fern

[14:48] {ilana} after this torture?

[14:48] {Threei} see you tomorrow

[14:48] {ilana} never

[14:48] {fernp} bye all

[14:48] {Threei} {AIG} yes- torture or not, I deliver

[14:49] {BillyD} out ty

[14:49] {Threei} welcome

[14:49] {BillyD} it's taken some nerves today to hold some of these

[14:49] {jmb} Thanks Vad

[14:49] {BillyD} nerve

[14:50] {Threei} who would have thought - not only it shaped up as a good day, practically all we won was on a short side

[14:50] {Threei} jmb :)

[14:50] {Threei} Billy, know why?

[14:50] {BillyD} tight range

[14:50] {Threei} because we are shorting into what shapeds up as market reversal

[14:50] {Threei} but there is no reversal yet

[14:50] {Threei} so it's kind of tip of the uptrend

[14:50] {Threei} very uncertain and very nervous

[14:51] {dino} pfg

[14:51] {ilana} reversal is coming soon?

[14:51] {dino} out esi .17, +.27

[14:51] {Threei} general market?

[14:52] {ilana} yes

[14:52] {dino} hmmm tricked me

[14:52] {Threei} well... many pundits call for it for months

[14:52] {Threei} I won't follow their steps

[14:52] {ilana} to downtrend you mean?

[14:52] {Threei} but heck, some day it should reverse

[14:52] {Threei} yes

[14:52] {Threei} 1:2 AIG

[14:53] {BillyD} Vad, it make sit harder to hold for more i n this mkt because it takes alot to finally hit 1:1 after testing you fora while

[14:53] {Threei} yup... that's the uncertainty and nervousness of trend reversal

[14:54] {BillyD} then they continue.....................................

[14:54] {Threei} no one knows whether it comes finally or it's just another headfake

[14:54] {ilana} and i'm lucky to get into trading just on time...

[14:54] {dino} lol

[14:54] {Threei} smell of roasted bear meat permeates premises for months

[14:54] {dino} welcome to the jungle ilana

[14:54] {ilana} rrrrrrrrrrr

[14:58] {dino} trader tax will exempt retirement funds, lol, trade the ira is the loophole

[15:00] {dino} cpl

[15:02] {Threei} AIG...

[15:02] {Threei} this part is without us already

[15:02] {Threei} but really Ilana... you have no reason to be so cruel toward this one

[15:03] {ilana} will give it a couple years to prove itself

[15:03] {Threei} years?

[15:03] {Threei} it may get delisted before that, lol

[15:04] {ilana} even better

[15:18] {dino} rino hl l ave .25

[15:20] {dino} stop is .98

[15:22] {Threei} Defense Secretary Gates: may need to order 4-5K more mine resistant vehicles (MRAP's) for the Afghanistan troop surge (related FRPT OSK NAV )

[15:23] {BillyD} Obama main war issue was in Iran to get them out

[15:23] {BillyD} now we adding more to different war

[15:24] {BillyD} presidential promises..............

[15:24] {Threei} and this one has next to zero chances to be won

[15:24] {Threei} heck, there is no even mission toaccomplish

[15:24] {BillyD} got to find them first

[15:26] {Threei} nah, FRPT is dead

[15:27] {Threei} thoufght maybe some momo on that

[15:28] {BillyD} Vad, any B'Day plans?

[15:28] {Threei} lunch... walk... then get back home and show that single malt how dangerous its life is and how short its lifespan can be

[15:29] {BillyD} rofl

[15:29] {Threei} US) Senate Republicans lose bid to stop Medicare cuts in healthcare bill

[15:30] {ilana} AIG - wall at .70, and look at sPY

[15:31] {Threei} - McCain motion would have prevented the bill from stripping around $400M in Medicare funding.

[15:32] {Threei} Market Internals update at 3:30pmET

[15:32] {Threei} - NYSE volume 800M shares, about 11% below its three-month average; decliners lead advancers by 1.6:1.

[15:32] {Threei} - NASDAQ volume 1.62B shares, about 13% below its three-month average; decliners lead advancers by 1.2:1.

[15:32] {Threei} - VIX index +2.75% to just over 21.50

[15:32] {Threei} (US) President Obama: Administration would like to move forward on job creation proposals linked to energy efficiency (related EUR/USD )

[15:33] {Threei} Proposals under consideration include tax incentiv

[15:33] {dino} oh boy, just like the ethanol junk

[15:34] {Threei} ethanol worked great - just look how well EPIX is doing

[15:34] {dino} rino stopped

[15:35] {dino} lol epix .0110

[15:36] {Threei} ummm... wrong symbol

[15:36] {Threei} but the right one is under $1 as well :)

[15:36] {Threei} what was it

[15:37] {BillyD} PEIX

[15:37] {Threei} lol, yes

[15:37] {Threei} thank you

[15:37] {BillyD} Happy B'day

[15:39] {Threei} another market breakdown

[15:39] {Threei} will AIG follow?

[15:39] {Threei} WFC

[15:40] {Threei} .54 short?

[15:40] {dino} nothing like making a fuel that costs more than existing fuels

[15:40] {Threei} and save nothing in the process

[15:41] {Threei} so far feel about selloff into close proves right

[15:42] {BillyD} stop .64 right

[15:42] {dino} you have that right

[15:42] {Threei} or above .60 if want to keep it anal-retentive

[15:42] {dino} ndx filling open gap

[15:44] {BillyD} out ty

[15:44] {Threei} beautiful

[15:44] {Threei} nice and easy

[15:44] {dino} heck of a drop

[15:44] {BillyD} yeah, and I hate WFC....lol

[15:44] {Threei} and again on a short side

[15:44] {Threei} hehe

[15:44] {Threei} that's why we short it

[15:52] {Threei} 14:20] {Alert} Threei does it feel like eod will bring real selloff to anyone?

[15:52] {Threei} 14:29] {Alert} Threei I do feel seloff coming

[15:53] {BillyD} nice read

[15:53] {dino} indeed

[15:53] {BillyD} mkt knew it was your B'day

[15:53] {Threei} lol

[15:55] {Threei} 119.30 was short trigger I was paper-trading on GLD

[15:55] {Threei} worked like charm

[15:55] {Threei} maybe I need to starty calling it again, carefully

[15:56] {Threei} see the setup?

[15:56] {ilana} yes

[15:56] {BillyD} big time

[15:56] {ilana} very nice chart it was

[15:57] {ilana} bye and happy b-day again, Vad

[15:57] {Threei} thank you

[15:57] {Threei} okay guys, thank you all

[15:57] {Threei} nice day

[15:57] {Threei} see you all tomorrow

[15:58] {dino} have a happy b-day 3i

[15:58] {dino} next gaps 1768 ndx, 1097 s/p

[15:58] {Threei} I will

[15:58] {BillyD} bye Vad

[15:59] {Threei} you will be able to tell tomorrow as my ytping will be worse on record

[16:00] {dino} ttwo