ATTENTION: all new orders and trial requests are going to be handled on Thu April 2, after Vad's return from the conference on the Bahamas. Thank you for your patience!

Mar 25 2009

Morning was very nice with all the usual plays: FAS, BAC, WFC, GE longs. We did catch a whiff of reversal and shorted FAS and GE  but unfortunately limited ourselves to scalping profits.                                                                         

Session Time: Wed Mar 25 00:00:00 2009

[07:29] {nemo} Haroo

[08:21] {Threei}  Good morning

[08:22] {i2romantis} morning vad

[08:22] {Threei}  i2r :)

[08:29] {cosmo} DRYS trys

[08:30] {nemo} cosmic :)

[08:30] {Threei}  *FEB DURABLE GOODS ORDERS: -+3.4% V -2.5%E;

[08:30] {cosmo} :)

[08:30] {nemo} Vad what does "-+3.4%" mean

[08:30] {cosmo} .78 so far

[08:31] {Threei}  FEB DURABLE GOODS ORDERS: +3.4% V -2.5%E; DURABLES EX-TRANSPORTATION: +3.9% V -2.0%

[08:31] {Threei}  - Prior Durables revised from -4.5% to -7.3% (second revision)

[08:31] {Threei}  - Prior Durables Ex Transportation revised from -3.0% to -5.9% (second revision)

[08:32] {Threei}  steady stream of improving economic indicators lately

[08:43] {vinod} good morning to all

[08:44] {Threei}  vinod :)

[08:45] {fernp} Hello everybody

[08:45] {nemo} morning

[08:45] {Threei}  RBS ANALYSTS SEE THE ECB MAKING A 50BPS CUT TO THE PRIME POLICY RATE AT THEIR APRIL MEEING

[08:45] {Threei}  fern, nemo :)

[08:48] {Threei}  be back in 5

[08:55] {pita} Hi all

[08:55] {Threei}  pita :)

[08:56] {dino} gm all

[08:57] {Threei}  dino :)

[08:57] {Threei}  wow

[08:57] {Threei}  you connected without torture today?

[08:57] {larisa} good morning :)

[08:57] {Threei}  larisa :)

[08:57] {magoo} kjhsdakeafhkddak

[08:58] {Threei}  mags :)

[08:58] {dino} me?

[08:58] {Threei}  yes

[08:59] {dino} i lost the old way on a security upgrade. using the internet

[08:59] {dino} no slapping

[09:06] {ese} morning

[09:06] {Threei}  ese :)

[09:06] {Threei}  BAC and WFC look the strongest among finnies

06[09:07] * magoo slaps laserdave around a bit with a large trout

[09:07] {magoo} sigh

[09:07] {Threei}  morning warm-up?

[09:07] {magoo} i miss when we all were childish and slap fest 

[09:08] {i2romantis} FAS moving well so far

[09:08] {Threei}  yup

[09:13] {cosmo} TIBX

[09:13] {magoo} vad..new NEWS RIMM?

[09:13] {dino} sssssssssssssssslap

[09:13] {magoo} ok

06[09:13] * magoo slaps dino around a bit with a large trout

06[09:14] * magoo slaps dino around a bit with a large trout

06[09:14] * magoo slaps dino around a bit with a large trout

[09:14] {dino} fri close gap around 41.60 magoo fwiw

[09:14] {Threei}  06:02am [RIMM] Shares assumed underweight at JP Morgan, price target $40

[09:14] {Threei}  03/24/09 05:30pm [RIMM] Kaufman Initiates RIMM with Hold, price target: $50.00

[09:16] {Threei}  03/25/09 03:06am

[09:16] {Threei}  [BAC] Bank of America Corp CEO Lewis: Intend to begin repaying bailout funds in April - LA Times

[09:16] {Threei}  - Lewis told the LA Times the bank would seek to payback th ebulk of its goverment funds once the financial system becomes more sound.

[09:16] {Threei}  - He defended purchases of Countrywide Financial and Merrill Lynch as strategically sound, long-run plays.

[09:16] {Threei}  - Lewis stated that he has seen no indicators from US gov that BAC will fail gov stress tests.

[09:16] {Threei}  - Note that BAC is tje 3rd largest benefactor of US aide behind AIG and C. BAC is currently paying the US gov $2.85B in dividends per year.

[09:16] {Threei}  - Reminder: On March 18, CEO Lewis said BAC could pay back $45B in TARP funds in 2009 or at the start of 2010. Earlier, on March 2, he called BAC's second request for $20B of govt aid for Merrill transaction a'tactical error and said it was possible BAC could pay back TARP funds in two or three years.

[09:18] {dptl} good morning

[09:18] {magoo} oph oh..vad..i did new download and now i do not see isld or inet in route slection

[09:19] {Threei}  dp :)

[09:19] {magoo} thers a naz route??

[09:21] {Threei}  Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.

[09:21] {magoo} HOW?

[09:21] {magoo} sorry, u know me

[09:21] {vint} good morning all

[09:21] {Threei}  I've no idea

[09:21] {Threei}  ask dave

[09:22] {Threei}  I haven't updated yet

[09:22] {Threei}  vint :)

[09:23] {pita} what's with DRYS?

[09:24] {Threei}  bad earnings

[09:28] {ese} makke sure you don't like it too much down there in the Bahama's Vad.......we like you just fine up here on the island???

[09:28] {Threei}  for our friend from Poland:

[09:28] {Threei}  Add Nasdaq OMX BX order entry in Laser. Nasdaq OMX BX order entry has all the features that Genesis supported for NASDAQ INET orders. These features include: Hot Key support for Bid/Ask, Buy/Sell, Rash Routing Stratedy, Hidden order, Reserve order, etc.

[09:28] {Threei}  oops, wrong post

[09:28] {magoo} im scared

[09:28] {Threei}  *(PD) POLAND CENTRAL BANK CUTS INTEREST RATES BY 25 BPS TO 3.75%, AS EXPECTED

[09:29] {Threei}  lol ese

[09:29] {nemo} RIMM

[09:30] {cosmo} DRYS pre mkt high = 4.89

[09:30] {Threei}  watch WFC for bounce

[09:30] {cosmo} gonna test

[09:31] {Threei}  would like to see a quick dive under 16

[09:32] {Threei}  oh well

[09:32] {ese} L HIG .50

[09:33] {ese} ouuuuuuuuu was thinking FAS.........

[09:33] {Threei}  looks like entry on pullbacks is a theme

[09:34] {Threei}  FAS

[09:34] {Threei}  around .50

[09:34] {Threei}  wtih stop under .40

[09:34] {Threei}  BAC

[09:34] {Threei}  .70 break

[09:35] {Threei}  stop under .60

[09:35] {nemo} in bac

[09:36] {dino} v hurt

[09:36] {Threei}  FAS first strength from here

[09:36] {magoo} in .43

[09:36] {Threei}  yup

[09:36] {Threei}  quite hectic action

[09:37] {Threei}  but should become more streamlined

[09:39] {Threei}  WFC .11 long if holding above 16

[09:40] {Threei}  US TREASURY SEC GEITHNER: RESOURCES STILL REMAIN IN TARP, WILL BE DIFFICULT TO REPLENISH FUNDS ONCE USED

[09:40] {Threei}  sheesh

[09:40] {Threei}  can they all just shut up?

[09:41] {Threei}  half out FAS

[09:41] {Threei}  scalpers know, right?

[09:41] {magoo} out .56 TY

[09:41] {Threei}  half out WFC

[09:42] {wulff} got WFC ty

[09:43] {Threei}  WFC stop to .08 for the balance

[09:43] {magoo} out wfc TY

[09:43] {Threei}  FAS stop to .45 for the balance

[09:43] {Threei}  BAC is laggard

[09:44] {Threei}  not sure if it's just biding its time or has no gas

[09:44] {Threei}  if uncomfortable, trail stop to .64

[09:45] {Threei}  WFC baby

[09:45] {Threei}  1/4 more out .40

[09:45] {Threei}  stop to .19

[09:46] {Threei}  BAC, you are becoming irritating

[09:46] {magoo} yea

06[09:46] * Threei kicks BAC in the rear

[09:47] {Threei}  WFC, my little beauty

[09:47] {Threei}  out .47

[09:47] {Threei}  +.35

[09:47] {Threei}  did I kick wrong side BAC?

[09:48] {Threei}  out

[09:48] {Threei}  it annoyed me

[09:48] {nemo} yeah and then it ran into fas

[09:49] {ese} out HIG ..50 even ...no clear direction

[09:49] {ese} dn now

[09:50] {Threei}  GE

[09:50] {Threei}  yesterday's high .91

[09:50] {Threei}  looks like the thing decided to move for real

[09:51] {Threei}  let's see if we get pullback

[09:51] {Threei}  .80 - .85 zone

[09:51] {Threei}  FAS, 1/4 more out

[09:51] {Threei}  .65, +.22

[09:53] {pita} leaving early today - gl everyone

[09:53] {Threei}  take care pita... not bad for 20 minutes of work, lol

[09:54] {dino} \gmcr sm l .40

[09:54] {fernp} closed BAC +.05 ty. Was uncomfortable w/it

[09:55] {Threei}  can't blame you really

[09:55] {Threei}  thing seriously lags the rest

[09:56] {Threei}  US TREASURY GEITHNER: OPEN TO IDEA OF SDR LINKED CURRENCY SYSTEM

[09:56] {nemo} Case of Kettle 1 please

[09:57] {Threei}  give me some cave to crawl in and never hear from these guys again

[09:57] {Threei}  until they have something to say asbout real issues

[09:57] {nemo} cement up the entrance

[09:57] {Threei}  US TREASURY GEITHNER: "OPEN" TO IDEA OF SDR LINKED CURRENCY SYSTEM SUGGESTED BY CHINA; USD WILL BE LINKED TO GOOD US POLICY

[09:57] {Threei}  and install couple machine-guns on entrance

[09:57] {Threei}  with motion sensors

[09:59] {Threei}  GE won't pull back

[09:59] {Threei}  11 break is obvious trigger

[09:59] {Threei}  hate breaks on these stocks

[09:59] {Threei}  discretionary trade guys

[09:59] {Threei}  decide for yourself whether you like it or not

[09:59] {wulff} breakouts fail more?

[10:00] {Threei}  FEB NEW HOME SALES: 337K V 300KE (% M/M)

[10:00] {Threei}  on these financial thick stocks, yes

[10:00] {Threei}  breaks fail more often than work

[10:00] {Threei}  but we got news right at this point

[10:00] {Threei}  out FAS in full

[10:01] {Threei}  .86

[10:01] {magoo} nice boss

[10:01] {Threei}  +.43

[10:01] {i2romantis} nice

[10:01] {magoo} B..gave your phone numberAC 

[10:02] {Threei}  - New Home months of supply: 12.2 v 12.9 months m/m

[10:02] {Threei}  - Prior New Home Sales revised from 322K to 309K{XHB}

[10:02] {Threei}  - Median sales price: $200,900 v $206,800 m/m (%); $245,300 y/y (-18% y/y)

[10:03] {Threei}  yeah, BAC fooled me big time

[10:03] {Threei}  but heck

[10:03] {Threei}  am I unhappy with this opening?

[10:04] {vint} good beginning, vad, thanks

[10:05] {Threei}  GRMN

[10:05] {Threei}  HEARING RENEWED TAKEOVER CHATTER CIRCULATING

[10:05] {Threei}  :)

[10:05] {dino} gmcr stopped -.43

[10:05] {dino} lphi l .06

[10:07] {dino} new march highs

[10:08] {dino} push for 8k end of quarter?

[10:08] {cosmo} the highs of march

[10:08] {Threei}  certainly feels this way dino

[10:09] {dino} mark-ups on force, they don't want to underperform

[10:11] {dino} lphi stop to .31

[10:12] {Threei}  see how breakouts are struggle on these stocks?

[10:12] {Threei}  if you tried FAS at 7, torture

[10:12] {i2romantis} lows are coming in 20 mins?

[10:12] {Threei}  GE at 11, even news at that very moment moved it 10 cents only

[10:12] {nemo} I'm having deja vu 

[10:13] {dino} out lphi .32, +.26

[10:13] {dino} been there done that nemo

[10:14] {dino} f#ck, where's my 8k hat?

[10:14] {Threei}  Chaeron stole it

[10:14] {Threei}  he collects those

[10:15] {dino} :)

[10:16] {magoo} i have it dino

[10:16] {dino} oh mannnnnnnnnn, swiper

[10:17] {magoo} jesus..dino threw a bag of jelly beans at me and it exploded NO SHIT

[10:17] {dino} he's whining

[10:17] {Threei}  lol

[10:18] {Threei}  you guys crack me up

[10:18] {dino} vad, look at tlt/tbt today

[10:18] {Threei}  that's very counter-intuitive

[10:18] {Threei}  let's buy TBT .80 break?

[10:18] {i2romantis} i'm just curious, how come i don't see you guys shorting much?

[10:18] {nemo} well tbt tanked big time yesteray afternoon

[10:19] {i2romantis} i must be missing something

[10:19] {Threei}  market is uotrending i2r... why would we?

[10:19] {Threei}  we shorted a lot during downtrend

[10:19] {i2romantis} got ya

[10:19] {dino} 12r, shorted the 20 year yesterday

[10:20] {i2romantis} i must have missed that before, i only noticed you guys going long

[10:20] {dino} and had the qid at open

[10:20] {dino} yesterday

[10:20] {Threei}  you haven't seen this alert:

[10:20] {Threei} Short Setup: SOMETHING  at some price

[10:20] {Threei}  ?

[10:20] {dino} you had me on ignore roman

[10:20] {i2romantis} will pay attention :)

[10:20] {i2romantis} thx

[10:21] {nemo} I thought it was "anything

[10:21] {nemo} "anything"

[10:21] {Threei}  I rememmebr couple weeks when we were shorting CAT every day

[10:22] {wulff} TBT

[10:22] {magoo} we were? cant remember..what CAT do? pet supplies?

[10:23] {Threei}  yeah... kittens, toys, cat food

[10:23] {Threei}  and broadcatsts cat fights

[10:26] {Threei}  US HOUSE DEMOCRATS PROPOSE A $3.45T BUDGET FOR 2010

[10:28] {ese} missed that nice run up in HIG....some days you are the bug ...somedays you are the windshield

[10:29] {nemo} Reminds me of a joke...what's the last thing to go through a bugs mind when it hits the windshield?

[10:30] {nemo} tough crowd

[10:30] {ese} his a Hole

[10:30] {Threei}  DOE CRUDE: +3.3M V +1.1ME

[10:30] {nemo} nice ese

[10:31] {nemo} Who was it that was talking about having an 11 year old's sense of humor?

[10:31] {nemo} CAT kissing the highs

[10:33] {dino} sidetracked

[10:33] {nemo} who cat?  no, up .08 last minute

[10:33] {nemo} .13

[10:34] {ese} L NUAN .64

[10:34] {ese} dino did you find any big down gappers

[10:35] {dino} sorry es, just got bid accepted on myrtle beach condo, sidetracked for an hour

[10:36] {ese} right on........I'm I comin to golf

[10:36] {dino} next wek

[10:37] {Threei}  if I don't play golf, can I just drop by with beer?

[10:37] {ese} this pattern in NUAN is guranteed to work from Vads book

[10:38] {ese} lol

[10:38] {dino} foreclosurer

[10:38] {ese} nice

[10:39] {ese} have you seen it dino

[10:40] {magoo} vad..i miss anything u in?

[10:40] {magoo} picking up jelly beans

[10:40] {Threei}  no

[10:40] {Threei}  was looking at FAS on pullback to .70, and in rertospect it was right spot

[10:40] {magoo} ok..ill keep pickin up then..appx 200 to go

[10:41] {Threei}  but at the moment pace was so flat,

[10:41] {Threei}  could easily go either way

[10:41] {Threei}  lol

[10:42] {dino} internet pictures, but I have stayed in similar units, barefoot resort (dye courses)\

[10:44] {nemo} BAC forming ascending triangle

[10:46] {ese} deon't know what i was thinkin vad....you said pullbacks are the order of the day....and what do I do....try a breakout......."the gates are down ..the lights are flashing, but that train just ain't a comin!!"  sheesh

[10:47] {Threei}  yeah, we are not in a happy-bubbly-giddy stage of the bull yet, when any entry works

[10:48] {nemo} Train kept a rollin' all night long...

[10:48] {vinod} fas 070 still good

[10:49] {vinod} ?

[10:49] {ese} not in my case today nemo

[10:50] {ese} I'm sure that I could demonstrate the inate ability to drown in a parking lot puddle today.....

[10:50] {nemo} Oh it kept a rollin...right over you

[10:50] {Threei}  not sure vinod

[10:50] {Threei}  kind of 50/50 here

[10:50] {Threei}  easy money has been made for the morning

[10:50] {ese} ha ha yuk yuk

[10:52] {Threei}  in fact...

[10:52] {Threei}  GE starts looking like short on .90 breakdown

[10:52] {Threei}  if sdtays under 11

[10:52] {nemo} Better than Nancy Sinatra and her boots

[10:52] {Threei}  and FAS on .70 breakdown

[10:52] {ese} indeed

[10:52] {Threei}  that was for i2r :)

[11:02] {Threei}  everything's struggle

[11:02] {i2romantis} yes

[11:03] {Threei}  same pattern as yesterday so far:

[11:03] {Threei}  easy money is made quickly after the open,

[11:03] {Threei}  then long period of boredom

[11:06] {Threei}  NY FED: PURCHASED $7.5B IN TREASURIES IN FIRST ROUND OF $300B PURCHASE PROGRAM

[11:08] {Threei}  NORTH KOREA REPORTEDLY HAS MOVED MISSILE TO LAUNCH PAD - JAPANESE PRESS

[11:10] {cosmo} they need to talk

[11:14] {Threei}  FAS 1:1

[11:15] {Threei}  can't believe I subjected myself to this water torture for this gain

[11:15] {nemo} I got stopped out @ .76

[11:15] {Threei}  that was very stingy stop

[11:16] {Threei}  real resistance was .80

[11:17] {dino} ok, back to work

[11:17] {Threei}  just as with pullbacks on a long side.. on both FAS and GE short entry on bounce near the resistance would be much better idea

[11:17] {dino} ese what are you looking at?

[11:19] {i2romantis} getting frustrated with TD's slow fills...

[11:19] {Threei}  oh come on...

[11:19] {Threei}  we talked like 3 months ago about it being not suitable for day trading

[11:19] {Threei}  you like torturing yourself? :)

[11:20] {i2romantis} seems that way

[11:20] {i2romantis} contacted dave, switching soon

[11:20] {Threei}  GE's turn finally it seems

[11:21] {Threei}  moving my stop to .95

[11:21] {Threei}  FAS 1:2

[11:22] {Threei}  I'll be a tightwad and move GE's stop to .91

[11:24] {Threei}  whatever

[11:24] {Threei}  covered GE .82

[11:24] {Threei}  plus whooping 8 cents

[11:24] {vint} out GE +.07

[11:25] {Threei}  it's just too slow to get a firm read

[11:25] {Threei}  and having almost perfect day, with little BAC shakeout the only exception, don't want to jeopardise it

[11:25] {dino} sm l apol .00

[11:26] {magoo} just covered GE short dime..ty vad

[11:26] {Threei}  no FAS?

[11:26] {magoo} took bac with it

[11:26] {magoo} no fas

[11:26] {Threei}  okay... whatever works

[11:27] {Threei}  FAS worked the best of them all

[11:28] {dino} apol stop is .85\

[11:30] {dino} stopped apol -.15

[11:30] {magoo} thats cause i didnt take it

[11:36] {Threei}  BAC works nicely now

[11:37] {vinod} at 0.70?

[11:38] {Threei}  ?

[11:43] {dino} hl s nue .10

[11:44] {dino} stop is .38

[11:45] {KSystems} I'm buying the OIH here...83.10

[11:45] {KSystems} lets see

[11:47] {Threei}  what to see... nice scalp :)

[11:48] {Threei}  IBM

[11:48] {Threei}  PREPARING FOR LAYOFFS IN US SERVICES UNIT; WILL SHIFT MORE WORK TO INDIA - WSJ CITIES SOURCES

[11:48] {Threei}  I see stimulus works well

[11:49] {dino} stopped nue .05 +.05 markety strength

[11:49] {dino} nite l .66

[11:59] {dino} mygn

[12:00] {dino} 7 bucks

[12:00] {i2romantis} sure hope that laser software does better job at updating buying power, cause TD's sucks

[12:00] {Threei}  it's real time...

[12:01] {Threei}  you bought something, your BP went down... you sold, it went back up

[12:04] {i2romantis} i know, just doesn't do it cleanly with TD's ATP

[12:04] {Threei}  hehe... last time I traded with broker with that kind of interface was 1997... :)

[12:05] {i2romantis} with every tran bp is lower by 200-300, not sure if related to us/cdn exchange issue, as I still use some cdn funds when usd are all used up

[12:05] {i2romantis} I think i'll be switching in April

[12:05] {Threei}  anyone remember Datek?

[12:05] {magoo} we used it

[12:05] {magoo} datek

[12:05] {Threei}  :)

[12:06] {dino} nite stop to .78

[12:06] {dino} out .80, +.14

[12:10] {Threei}  starting tomorrow morning, Prez is holding online townhall meeting, answering sumbitted questions

[12:10] {Threei}  I have just one question... when does this guy work?

[12:11] {magoo} no kidding

[12:12] {Threei}  REMINDER: THE FED'S PIANALTO IS SCHEDULED TO SPEAK AT 12:20PMET AND FED'S YELLEN TO SPEAK AT 1PMET

[12:12] {Threei}  - both are speaking on the US economic outlook.

[12:12] {Threei}  - Pianalto will not release an advanced text, will take audience Q&A.

[12:12] {Threei}  - Yellen will have an advanced text and take questions afterward from reporters.

[12:15] {Threei}  TREASURY SEC GEITHNER: ECONOMIC DETERIORATION PACE HAS SLOWED

[12:22] {Threei}  FED'S PIANALTO: DATA CONFIRMS SEVERE RECESSION; CREDIT CONSTRAINTS ARE MAIN PROBLEM, GDP SHOULD STABILIZE BY YEAR END

[12:22] {Threei}  - Notes that the TALF program is critical to getting credit flowing once more

[12:22] {Threei}  - Remarks that the Fed is prepared to further expand Fed balance sheet

[12:24] {Threei}  and market drops why?

[12:27] {Threei}  US) TREASURY SEC GEITHNER: STRONG USD IN AMERICA'S BEST INTEREST; NO INDICATION FOREIGN BUYERS ARE LOSING INTEREST IN PURCHASES OF TREASURIES - CNBC INTERVIEW

[12:27] {Threei}  - financial institutions must have stronger quality of disclosure than we have now.

[12:28] {nemo} goin' for the title

[12:28] {Threei}  is it a requirement for all treasury seceretaries to say 'atrong dollar is in US interests"?

[12:28] {nemo} talking points

[12:28] {Threei}  I don't remember any one them not saying this,

[12:29] {Threei}  even when USD was in the crapper

[12:29] {dino} realistically it is in bond buyers interest, not us

[12:31] {dino} qld l .57

[12:36] {Threei}  http://finance.yahoo.com/tech-ticker/article/218286/One-Small-Problem-with-Geithner's-Plan-It-Will-Bankrupt-the-Banks?tickers=aig,c,bac,wfc,xlf,^gspc,^dji

[12:38] {nemo} what's your stop Dino?

[12:39] {dino} .34

[12:39] {dino} poor entry

[12:49] {Threei}  I am at serious risk to break my chin off my desk

[12:50] {dino} stopped, sorry nemo

[12:50] {Threei}  and break the desk and keyboard in a process

[12:50] {larisa} Blodget is the one who barred from markets for life right ? I think his judgement is clouded a bit :)

[12:50] {dino} nue s .19

[12:50] {Threei}  UN URGES THE G20 TO SUPPORT A $1T PLAN TO HELP DEVELOPING COUNTRIES

[12:51] {dino} milken

[12:51] {Threei}  well, there are arguments in the article

[12:51] {Threei}  either they are valid or not

[12:52] {dino} ndx wants to fill open gap

[12:55] {larisa} when anybody says something, to me it always agenda behind the words. Quid pro quo. 

[12:55] {Threei}  that's why I dismiss the whole 'consider the source" - everyone has an agenda

[12:55] {larisa} I believe Tim's plan will work1 :)

[12:55] {Threei}  so why not look at the message itslef and evaluate its merits

[12:56] {Threei}  don't tel me Tim has no agenda {G}

[12:56] {larisa} lol

[12:56] {Threei}  he is too terrific for that

[12:56] {magoo} first on agenda is to hire secretary

[12:57] {Threei}  I think it's done already

[12:57] {Threei}  ghone are sad times when tim was home alone

[12:57] {dino} larisa for tim's sec

[12:58] {larisa} no thanks :) He is not my type

[12:58] {larisa} of boss

[12:58] {dino} :)

[12:58] {Threei}  and we don't want Larisa in harms way when Tim is getting ostracized and tar and feathers become the main furniture in his office

[12:59] {nemo} you mean his wardrobe

[13:00] {Threei}  depends on where angry mob catches up with him

[13:00] {Threei}  FED'S YELLEN: US MUST USE ALL TOOLS IN CRISIS, STIMULUS MAY ASSIST ECONOMY NEXT QUARETER

[13:00] {larisa} I doubt I can be anybody's secretary, he yells at me once and poison in his coffee will make me unemployed.

[13:01] {Threei}  lol

[13:02] {Threei}  I never yelled at secretaries but being focused on something completely I used one gal's cup of coffee as an ashtray...

[13:03] {Threei}  poor girl looked at it, sighed and took about 10 minutes before finally saying

[13:03] {Threei}  umm... that was my coffee...

[13:04] {Threei}  FED'S YELLEN:

[13:04] {Threei}  UNEMPLOYMENT TO PEAK NEXT YEAR

[13:04] {Threei}  - Deflation larger risk than inflation at the moment

[13:04] {Threei}  - Remarks that housing may have reached a bottom yet uncertainty remains in economic outlook

[13:04] {Threei}  - Core inflation to be below 1% for next couple years

[13:04] {Threei}  - TALF may be extended to CMBS and RMBS

[13:05] {Threei}  by the way... whether accusations against Blodget were true or not, his competence was never really in question

[13:05] {larisa} yeah, his AMZN call to $400. i remember that one :)

[13:06] {larisa} wild guy

[13:06] {Threei}  that was actually the one that started his star reputation

[13:06] {larisa} right

[13:06] {dino} cov nue .00, +.20

[13:06] {dino} .19

[13:07] {dino} l nue .05

[13:11] {dino} out nuec .90 -.15

[13:13] {dino} whippy

[13:14] {vint}  CAT sinking down

[13:14] {Threei}  yeah, will be a bounce scalp canadidate very soon

[13:18] {magoo} mkts rotting here

[13:19] {Threei}  one more quick leg down CAT

[13:19] {Threei}  FAS nears bounce zone as well

[13:19] {Threei}  CAT, between 29 ans 29.10, on pause and strength

[13:20] {Threei}  if never loses 29.10 and market spikes, .20 break

[13:20] {Threei}  IMF'S STRAUSS KAHN: DISCUSSION OF RESERVE CURRENCY SITUATION IS A LEGITIMATE ONE

[13:20] {nemo} can hear the clinking bottles now

[13:22] {magoo} in .18

[13:23] {Threei}  I am still in the trenches

[13:23] {ese} I'm outta here...still hangin on to my 1/2 lot of nuan......we'll se what happens at the end of the day

[13:23] {Threei}  take care ese

[13:23] {nemo} what's that mean Vad?

[13:24] {ese} see ya vad.......remember no house shopping in the bahamas

[13:24] {Threei}  lol

[13:24] {Threei}  waiting for CAT entry to come to me nemo

[13:25] {dino} ndx gap filled

[13:27] {larisa} did CAT have news ?  

[13:27] {Threei}  no

[13:27] {Threei}  in

[13:27] {Threei}  .75 stop

[13:28] {Threei}  stopped

[13:28] {Threei}  hmm... feels bottomed

[13:29] {Threei}  nope... market is still sliding

[13:29] {Threei}  .70 break in

[13:29] {Threei}  stop under .65

[13:30] {Threei}  come on, it's time

[13:32] {dino} nue l .45

[13:33] {Threei}  sheesh... is this all??

[13:33] {Threei}  half out CAT .81

[13:34] {larisa} selling pressure is amazing

[13:34] {nemo} might need a double bottom after that fall

[13:34] {Threei}  that's your Tim's plan in work :)

[13:34] {larisa} lol

[13:34] {Threei}  out second half

[13:34] {Threei}  whatever

[13:34] {Threei}  too much struggle

[13:35] {dino} stopped -.15 done w/it

[13:36] {Threei}  WFC

[13:36] {Threei}  MOODY'S LOWERS RATINGS TO A1 FROM AA3

[13:36] {Threei}  market sells down like end of the world is here again

[13:40] {dptl} have a good evening all...finishing early today....

[13:40] {Threei}  take care dp

[13:41] {i2romantis} me too, done for today until I see some recovery

[13:41] {Threei}  i2r :)

[13:41] {Threei}  clever people quit while they are ahead

[13:41] {i2romantis} :)

[13:42] {dino} skf v sm l .40

[13:47] {dino} stopped

[13:47] {dino} taking a break

[13:48] {Threei}  FED'S YELLEN: DISINFLATION CANNOT BE UNDERESTIMATED - Q&A

[13:59] {Threei}  FAS, should be putting bottom in around here

[14:02] {Threei}  panic

[14:02] {magoo} rotting

[14:03] {magoo} red

[14:03] {Threei}  don't jump in, let it calm down

[14:04] {Threei}  now .96 break becomes long trigger if holding .90

[14:04] {Threei}  and don't touch it if not ready for a few tries

[14:08] {Threei}  something is seriously bothering the market

[14:09] {Threei}  (whispering) maybe Tim's plan

[14:09] {larisa} no, something else

[14:09] {Threei}  well... suggest your version :)

[14:10] {larisa} can not come up with anything (Tim, Tim, Tim in my head). You still think this market needs a reason ?

[14:11] {dino} sm l nite .30

[14:11] {Threei}  well... to turn around like this, yes

[14:12] {nemo} call on FAS vad?

[14:13] {Threei}  none

[14:13] {Threei}  it doesn't form clean setup

[14:13] {Threei}  just moves up and down

[14:13] {Threei}  I mean down and up

[14:16] {Threei}  6.05 if holding above 5.95

06[14:17] * magoo slaps Threei around a bit with a large trout

[14:17] {Threei}  6 break as aggressive entry if you prefer this kind

06[14:17] * magoo slaps Threei around a bit with a large trout

[14:17] {Threei}  wtf?

[14:17] {magoo} practicing for when it fails to work

[14:17] {Threei}  invalidated

[14:18] {Threei}  or to put it more precisely, modified

[14:18] {Threei}  .96 if hholdiong above .90

[14:18] {Threei}  etc

[14:18] {magoo} we need futes to turn up

[14:18] {Threei}  you don't sday

[14:19] {magoo} sarcasm??

06[14:19] * magoo slaps Threei around a bit with a large trout

[14:19] {Threei}  .90 break if holding above .85

[14:19] {Threei}  you got the idea

[14:19] {larisa} lets put in double bottom and bounce from here, please ? :)

[14:19] {magoo} .80 break if holds .75?

[14:19] {Threei}  this pattern of trigger/stop changes only if we make new low

[14:19] {nemo} I'll just put in an order @ 5.00 even

[14:19] {i2romantis} lol

[14:23] {Threei}  if you pay attention instead of joking, you are in at .91 and by now looking to partial out after 6 break

[14:23] {Threei}  half out .03

[14:23] {Threei}  scalpers are scalpers

[14:23] {dawg} scalped it thanks Vad

[14:24] {Threei}  :)

[14:24] {Threei}  to answer this:

[14:24] {Threei}  14:19] {magoo} .80 break if holds .75?

[14:24] {Threei}  no

[14:24] {magoo} i was joking and missed

[14:24] {Threei}  that patter was based on double bottom hunting

[14:25] {Threei}  if we lost .80, that would no longer be a double bottom,

[14:25] {Threei}  thus we would need to wait for new chart formation to appear

[14:26] {i2romantis} how do you come up with .91?

[14:27] {Threei}  were you watching it real time at the moment?

[14:27] {i2romantis} if the lows were in the 80s

[14:27] {i2romantis} yes

[14:27] {Threei}  then notice this pattern:

[14:27] {Threei}  it loses 6,

[14:27] {Threei}  holds 5.95,

[14:27] {Threei}  makes a few moves between them

[14:27] {Threei}  establishing mini-range

[14:28] {Threei}  if breaks 6 while holding 5.95, it becomes a trigger

[14:28] {Threei}  loses .95, makes the same kind of moves between .90 and .95

[14:28] {Threei}  making .96 triggger if holding .90

[14:28] {Threei}  etc

[14:28] {i2romantis} got ya

[14:28] {i2romantis} thx

[14:29] {i2romantis} i presume we are to see if it establishes 3rd bottom or if goes lower

[14:29] {Threei}  yep

[14:31] {Threei}  PALM

[14:31] {Threei}  HEARING SHARES ADDED TO DEUTSCHE BANK SOLAR LIST AS A BUY

[14:31] {Threei}  DRYS

[14:31] {Threei}  HEARING LAZARD MAKING CAUTIOUS COMMENTS; LOWERING ESTIMATES

[14:31] {Threei}  - Firm is lowering their FY EPS estimate to $1.05 from $1.35 despite their revenue estimate increases to $861M from $841M.

[14:32] {nemo} If fas holds, need break of 6.06?

[14:33] {Threei}  as a new trigger?

[14:33] {nemo} yes

[14:33] {Threei}  ummm... a bit too high

[14:33] {Threei}  where do you place a stop if buy up there

[14:34] {Threei}  see if it forms new setup here

[14:34] {Threei}  .85 - .90

[14:34] {Threei}  it still held the low

[14:34] {Threei}  so this kind of setups is still valid

[14:35] {Threei}  US MICHIGAN SENATOR LEVIN (D): AUTOMAKERS SHOULD EXPECT MORE AID, HOWEVER WITH CONDITIONS

[14:35] {Threei}  - Expects Obama auto task force to announce support for additional aid{GM F}

[14:35] {Threei}  retest of the low again

[14:35] {Threei}  not good

[14:35] {nemo} fingernails

[14:36] {Threei}  doesn't look like going to holsd

[14:37] {dino}   rimm filling that gap from fri close

[14:44] {Threei}  isn't it something?

[14:44] {Threei}  Larisa, agree with me now that market does have a reason for such stubborn selling?

[14:44] {Threei}  this is not your garden variety pullback

[14:45] {nemo} 200 point range on the DOW?

[14:45] {vint} by this rate, easily it could hit -200

[14:45] {nemo} lied 260

[14:47] {dino} gaps from friday., 7273, 1187, 768

[14:47] {Threei}  NY FED: DEALERS SUBMIT $23B IN 28 DAY, $37.5B TSLF AUCTION; BID TO COVER RATIO 0.61

[14:50] {Threei}  oullback under .70 is for the next try now

[14:50] {Threei}  same pattern

[14:50] {Threei}  BAC

[14:50] {Threei}  MOODY'S LOWERS SENIOR DEBT RATING TO A2 FROM A1

[14:52] {Threei}  stop under .60 if you got entry

[14:53] {Threei}  if it works, make your choice bwteen scalp and partial

[14:53] {Threei}  my personal is partial as I am trying to secure half and get a bigger move on trend reversal

[14:54] {Threei}  basis is, morning profits are quite enough for me,

[14:54] {Threei}  what I am trying to do here is not to lose and not to just add little scalps

[14:54] {Threei}  but to increase profit significantly or stay basically at the same level

[14:56] {Threei}  half out .76

[14:56] {nemo} what were you in at vad?

[14:56] {Threei}  .66

[14:57] {Threei}  want something closer to 6 for the next part

[14:57] {Threei}  between 5.90 and 6, let's say

[14:57] {Threei}  if trend changed, should be easy

[14:57] {Threei}  if not, what's my risk

[14:57] {Threei}  +.10 on first half, - .07 on second... shrug

[15:00] {Threei}  no go for second part

[15:01] {Threei}  FDIC'S BAIR: TRESURY DEPT'S NON BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'

[15:01] {Threei}  I think markey hates this idea

[15:02] {Threei}  yesterday selling started hitting as they started talking about it

[15:03] {Threei}  GEROGE SOROS: G20 NEEDS TO FIND A SYSTEMIC SOLUTION FOR DEVELOPING ECONOMIES

[15:04] {Threei}  - Calls the April G20 meeting a "make or break" event.{EEM}

[15:04] {Threei}  FDIC'S BAIR: TRESURY DEPT'S NON-BANK RESOLUTION AUTHORITY IS 'CRITICALLY IMPORTANT'

[15:04] {Threei}  - Would make sense on "many levels" if the FDIC were given resolution powers for large non-banks, in close cooperation with Treasury and Fed.

[15:05] {Threei}  is there any area this administration doesn't want to have total authority over?

[15:06] {dino} nope

[15:07] {Threei}  GEORGE SOROS: OBAMA SHOULD PROPOSE USE OF SDR

[15:07] {Threei}  why would USA need that?

[15:08] {nemo} Kettle 1...it would force fiscal discipline

[15:08] {Threei}  whose?

[15:08] {nemo} on the US

[15:08] {Threei}  so, USA wants to install the external enforcements on itself?

[15:09] {Threei}  REPORTEDLY 6,000 UAW WORKERS HAVE AGREEDED TO A BUYOUT, PLANS TO ANNOUNCE DETAILS OF UAW DEAL TOMORROW

[15:09] {Threei}  {F}

[15:09] {nemo} no...I'm sure the US would rather stay the reserve currency

[15:09] {Threei}  that's my point

[15:09] {Threei}  why Geithner says horray to the idea then, and why Soros thinks Obama should propose it?

[15:11] {Threei}  feels to me like trend is about to reverse

[15:13] {nemo} part of the Bildergerg plot,  remember...Obama is the Manchurian Candidate

[15:13] {dino}  lol

[15:20] {dino} qld l .25

[15:22] {Threei}  [15:11] {Threei} feels to me like trend is about to reverse

[15:24] {dino} out qld .37 +.12

[15:27] {dino} out nite .36, +.06

[15:29] {Threei}  WHITE HOUSE PRESS SEC: USD WILL BE GLOBAL RESERVE CURRENCY FOR LONG PERIOD OF TIME

[15:29] {Threei}  finally!

[15:30] {nemo} Hey, know how you can tell when a politician is lying?

[15:30] {Threei}  ok, if you want my take on what happened today:

[15:30] {dino} nite l .40

[15:30] {Threei}  idiot geithner mused about USA liking this idea,

[15:30] {Threei}  market reacted,

[15:30] {Threei}  now Prez spokesman says nah,

[15:30] {Threei}  market reacts.

[15:30] {Threei}  Geithner has to go, IMO

[15:31] {Threei}  damage this guy causes is beyond imagination

[15:31] {cosmo} yeah....put in cramer

[15:31] {dino} cedc l .37

[15:31] {Threei}  of course I am so brave only while larisa isn't here

[15:32] {Threei}  cosmo.. at least that would be funny

[15:33] {patience} geithner is the straw man imo

[15:33] {Threei}  seriously, can you envision all the implications of worlds reserve currency change for US economy?

[15:33] {Threei}  and whole financial system

[15:34] {nemo} austerity doesn't begin to describe it

[15:34] {Threei}  not what I mean

[15:34] {cosmo} hmmm... maybe try Chauncy Gardiner

[15:35] {nemo} I'm sure it woul be phased in over time

[15:35] {Threei}  I mean complexity, depth and breadth of all the issues influenced by this

[15:35] {nemo} How did they introduce that mutt the euro

[15:35] {Threei}  I am pretty sure no one in the whole world comes even close to undderstaning of all the changes involved

[15:35] {nemo} No doubt...things have become so complex

[15:36] {Threei}  and intervened

[15:36] {nemo} Doesn't mean they won't try

[15:36] {Threei}  could be

[15:36] {Threei}  my point is,

[15:36] {Threei}  market reacts on this as a huge unceratinty

[15:36] {Threei}  and we now how markets like uncertainty

[15:42] {Threei}  AIG MOODY'S CUTS RATING TO B2

[15:42] {Threei}  Moody is angry today

[15:42] {magoo} why kick everyone while down 

[15:43] {cosmo} to accumulate the stock

[15:44] {Threei}  lol

[15:45] {Threei}  BAC

[15:45] {Threei}  FIVE PUBLIC PENSION FUNDS FILE SUIT AGAINST BOFA - WSJ

[15:45] {dino} nite stop to .48

[15:46] {vint} short squeeze?

[15:46] {i2romantis} moody is moody today

[15:46] {Threei}  just some recovery vint

[15:46] {Threei}  not much to it

[15:46] {vint} thanks

[15:46] {Threei}  nervous day for both sides

[15:46] {dino} out nite +.08

[15:47] {Threei}  tsk tsk tsk i2r... I restrained myself from that pun

[15:47] {Threei}  but no, you had to do it :)

[15:48] {i2romantis} :)

[15:48] {i2romantis} and FAS was fussy today

[15:48] {dino} out cedc .42, +.05

[15:49] {Threei}  and FAZ?

[15:49] {dino} ipsu bloody

[15:49] {Threei}  {--- scared to ask about QID

[15:49] {i2romantis} works well, no? :)

[15:50] {Threei}  lol

[15:50] {Threei}  sure does

[15:50] {Threei}  funny thing about today was,

[15:50] {Threei}  we tried reluctantly two shorts

[15:50] {Threei}  feeling that it was countertrend trade

[15:50] {Threei}  so we took scalping profits on both

[15:51] {Threei}  and those were actually very promising trades

[15:51] {Threei}  lol

[15:51] {i2romantis} yes

[15:51] {Threei}  oh well

[15:51] {Threei}  I am a trend following trader mostly

[15:51] {Threei}  reversals is not exactly my thing

[15:51] {Threei}  I do nail many of them now and then

[15:52] {Threei}  but I pick the safest ways to do it

[15:52] {Threei}  and tend to take scalps

[15:52] {i2romantis} consistency is what you are good at and I'd love to get there soon :)

[15:52] {i2romantis} still making mistakes here and there

[15:53] {Threei}  as Zvanetsky said...

[15:53] {Threei}  Consistency of resuklts is a sign of professionalism

[15:53] {vint} very well said

[15:53] {i2romantis} lol, the context that he said it with is funny :)

[15:54] {vint} i wish i was anywhere close

[15:54] {Threei}  99% of his jokes are non-translatable

[15:54] {vint} oh that is a big joke

[15:54] {Threei}  no

[15:54] {Threei}  but mostly what he does is stdand-up

[15:55] {Threei}  the simplest ones are possible to translate...

[15:55] {Threei}  lie: He added some potatoe and salt, and put aquarium on the stove

[15:55] {Threei}  lie= like

[15:56] {Threei}  look at FAS

[15:56] {Threei}  sheesh

[15:56] {vint} straight line

[15:56] {Threei}  state of total confusion for both, bears and bulls

[15:56] {i2romantis} out fas at .45

[15:56] {i2romantis} should have waited :)

[15:57] {i2romantis} so, talk about inconsistency, got in at 5.57, left the screen, came back and it's here

[15:57] {Threei}  practically full roundtrip

[15:57] {i2romantis} nice trade, but very inconsistent

[15:57] {i2romantis} that's my issue

[15:57] {i2romantis} gotta work on that

[15:57] {Threei}  about a dollar - on a $6 stock!

[15:57] {i2romantis} yes

[15:58] {dino} crazy

[15:58] {i2romantis} but, i followed the down trend very painfully close, so it's nearly a recovery

[15:58] {dino} cedc in .50,

[15:58] {dino} out .62 +.12

[15:59] {Threei}  STRASBOURG, France  A top European Union politician on Wednesday slammed U.S. plans to spend its way out of recession as "a way to hell."

[15:59] {Threei}  Czech Prime Minister Mirek Topolanek, whose country currently holds the EU presidency, told the European Parliament that President Barack Obama's massive stimulus package and banking bailout "will undermine the stability of the global financial market."

[15:59] {cosmo} marrket likes it

[15:59] {i2romantis} and I hold overnight too often, so I have to get rid of those habits before i switch to laser

[15:59] {vint} CAT + .4

[16:00] {magoo} unreal close imo

[16:00] {Threei}  wtg vint

[16:00] {Threei}  whole day is, mags

[16:00] {Threei}  not overly wide but extermely werid

[16:00] {dino} wow am i beat

[16:00] {magoo} that close in financials was sick

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good evening, see you tomorrow

[16:01] {dino} bedlam, thats what it is, with the crazies running the facility

[16:01] {vint} good evening all, see you all tomorrow

[16:01] {i2romantis} cheers to all :)

[16:05] {dino} ctrn

Mar 24 2009

Very nice day with a few well controlled stops and nice-sized wins. Second half of the day was mostly boring with infrequent opportunities. All the same heroes - FAS, BAC, WFC, RIMM...

Session Time: Tue Mar 24 00:00:00 2009

[07:53] {nemo} morning

[07:54] {Threei}  Good morning sleepless in, umm, various cities

[07:54] {nemo} I've been up for 3 hours

[07:56] {Threei}  what can I say... try sleep aid?

[07:56] {Threei}  ok, daily comedy of irrelevance starts with:

[07:56] {Threei}  (US) FED'S EVANS: FED WOULD HAVE BEEN BETTER OFF TIGHTENING POLICY RATES AT A QUICKER PACE IN LATE 2001

[07:56] {Threei}  really?

[07:56] {Threei}  in 2001?

[07:56] {Threei}  and Mr Evans informs us now?

[07:56] {nemo} I use vodka

[07:58] {Threei}  (US) PRESIDENT OBAMA: G20 MUST TAKE ACTION TO STIMULATE GROWTH UNTIL DEMAND PICKS UP; G20 SHOULD PROVIDE AID TO STABILIZE EMERGING NATIONS, INCREASE IMF EMERGENCY FUNDS - GERMAN PRESS

[07:58] {Threei}  - Immediate action coming out of G20 summit in London could be clear way for recovery

[07:58] {Threei}  - Reiterates need to restore credit system

[08:05] {magoo} mornink comrades

[08:06] {Threei}  magoo :)

[08:06] {magoo} hey boss

[08:06] {magoo} faz might be a pre trade here

[08:07] {magoo} if financials want to pullbk today, could go multi points

[08:07] {Threei}  anything might be a trade...

[08:08] {magoo} OY..u starting with me already?

[08:08] {Threei}  question is, what is safe enough and has high enough odds

[08:08] {Threei}  lol... why not

[08:08] {Threei}  need morning warm-up, don't I

[08:09] {Threei}  (US) FED'S EVANS: Q1 GDP GROWTH LOOKS SET FOR SEVERE CONTRACTION; TO RESUME GROWTH BY YEAR-END

[08:09] {Threei}  - Unemployment Rate should begin to improve by year end and in 2010

[08:09] {Threei}  - Inflation expectations are well maintained

[08:11] {Threei}  (US) PIMCO'S MUCULLEY: EXPECTS CDO'S TO BE INVOLVED IN TOXIC ASSET PROCESS

[08:11] {nemo} Mags-do you go for Turkey's also?

[08:15] {Threei}  FED'S EVANS: GEITHNER TOXIC ASSET PLAN IS "VERY WELL DESIGNED"

[08:15] {Threei}  oh good

[08:15] {Threei}  gotta buy me some toxic asset

[08:15] {nemo} So wasn't the Titanic

[08:17] {Threei}  - Says $300B Treasury purchases is "Very Good Amount"

[08:17] {Threei}  - Private interests in troubled assets is positive

[08:19] {cosmo} don't toxic assets need an environmental assessment before they're resold?

[08:21] {Threei}  wyhatever assessment says, they are going to be shoved down the public throat

[08:21] {Threei}  so why bother

[08:22] {Threei}  EXHANGES SEND LETTER TO SEC REGARDING MODIFIED UPTICK RULE

[08:22] {Threei}  {NDAQ NYX}

[08:23] {Threei}  - Propose that under new system, uptick rule would go into effect following a stock decline

[08:23] {Threei}  - Individual borkers would be responsible for compliance with new rule

[08:23] {Threei}  - Short sales would be limited to current best bid

[08:23] {Threei}  borkers eh?

[08:24] {Threei}  FAS started uoticking on that

[08:24] {Threei}  BAC is trying to follow

[08:25] {Threei}  not sure what this means:

[08:25] {Threei}  - Short sales would be limited to current best bid

[08:25] {Threei}  no sales under the bid or what?

[08:26] {nemo} So, this is a BFD?

[08:26] {Threei}  ?

[08:26] {Threei}  who knows

[08:26] {Threei}  we haven't seen full text

[08:27] {cosmo} NRGY public offering anouncement

[08:27] {cosmo} might heal

[08:36] {larisa} good morning :)

[08:36] {ese} good morning....

[08:36] {Threei}  larisa, ese :)

[08:36] {ese} morning vad

[08:37] {ese} Vad....what is the symbol for the Baltic Dry index

[08:37] {fernp} Hello everybody

[08:37] {ese} fern

[08:37] {Threei}  fern :)

[08:37] {Threei}  it's not traded entity ese, there is no symbol

[08:38] {ese} ahhhhh......explains why I couldn't find it

[08:40] {Threei}  ok, this is actually funny:

[08:40] {Threei}  GS PRESIDENT: NOT LIKELY TO RETURN TARP FUNDS BEFORE STRESS TEST

[08:40] {cosmo} it is?

[08:40] {Threei}  I can just hear this childish capricious voice:

[08:40] {Threei}  let's see how you grade us on your test,

[08:41] {Threei}  then I'll think to give you your toys back or keep it

[08:42] {Threei}  of course it is cosmo, if your sense of humor is anything like mine - which is to say, at 11 years old level

[08:42] {cosmo} 12 ...haha

[08:42] {Threei}  - Again reiterates Goldman would not have had any losses from an AIG default

[08:42] {Threei}  ***Reminder: Back on March 23, GS: May sell 15-20% of stake in China bank ICBC in efforts to pay back TARP capital; could raise $1B - WSJ

[08:50] {dino} gm all

[08:50] {Threei}  dino :)

[08:55] {ese} morning dino

[08:59] {VINOD} good morning to all

[08:59] {ese} vin baby!!!!!!

[09:01] {Threei}  vinod :)

[09:03] {Threei}  PLD

[09:03] {Threei}  UPDATES DELEVERAGING EFFORTS; ASIA TRANSACTION PROCEEDS PROVIDE $1.3B OF LIQUIDITY IN Q1

[09:05] {pita} gm all, second try.....

[09:06] {Threei}  pita :)

[09:06] {dino} cracks me up, the assets are no good to banks, but geitrhers plan all hedges will make big money. see the problem w/m2m

[09:07] {dino} estimating 95% value taking out at 50%

[09:07] {Threei}  their reasoning is time factor

[09:07] {dino} yes, but it is wrong

[09:07] {Threei}  as in, market will value those assets higher in a while

[09:07] {Threei}  and banks need their balance sheets corrected now

[09:08] {Threei}  so, they move those assets to entities that can afford waiting

[09:08] {dino} yes, but again, wrong they are worth much more, artificially created crash

[09:09] {dino} m2m change to prior 12/07 change would have saved trillions

[09:09] {ese} something seems out of wack there.....assets are not assets these days

[09:09] {Threei}  at the expnese of some hurt egos? :)

[09:10] {dptl} good morning

[09:10] {ese} dp

[09:11] {Threei}  dp :)

[09:11] {Threei}  TSY SEC GEITHNER: FIXING MARKETS WILL TAKE TIME

[09:11] {Threei}  hmmm

[09:11] {Threei}  I need to ponder that

[09:12] {Threei}  it comes on the heels of earlier gem:

[09:12] {Threei}  [07:56] {Threei} (US) FED'S EVANS: FED WOULD HAVE BEEN BETTER OFF TIGHTENING POLICY RATES AT A QUICKER PACE IN LATE 2001

[09:12] {Threei}  [07:56] {Threei} really?

[09:12] {Threei}  [07:56] {Threei} in 2001?

[09:12] {Threei}  [07:56] {Threei} and Mr Evans informs us now?

[09:12] {dino} fly in the ointment, quarter end tuesday

[09:12] {vint} good morning all

[09:12] {Threei}  vint :)

[09:13] {dino} wow, '01, we were in a big bear market

[09:14] {ese} ya what kind of comment is that......tightening in 01

[09:14] {Threei}  and hey, it took just 8 years for him to notice?

[09:14] {ese} ????

[09:14] {Threei}  I am telling you... these guys deliver way too much entertainment lately

[09:15] {Threei}  and hurt my ego badly, by beating me to the pulp in competition for the Captain Obvious title

[09:16] {Threei}  CNBC'S FABER: GOLDMAN AND JP MORGAN FIRST QUARTERS ARE SHAPING UP TO BE STRONG

[09:16] {Threei}  - says both want to repay TARP money ASAP but likely to wait for stress tests

[09:16] {Threei}  - thinks GS will likely be forst to repay

[09:16] {Threei}  first or worst?

[09:16] {Threei}  ok, I should be the last one to point out someone's mistypes...

[09:17] {Threei}  although "borkers" in one of headlines today was oo funny to ignore

[09:17] {Threei}  [08:23] {Threei} - Propose that under new system, uptick rule would go into effect following a stock decline

[09:17] {Threei}  [08:23] {Threei} - Individual borkers would be responsible for compliance with new rule

[09:20] {Threei}  so far, market is much mirkier than yesterday's

[09:21] {Threei}  no clear plays at the moment,

[09:21] {Threei}  mostly upward bias for now

[09:21] {Threei}  but will wait for clean indication

[09:21] {Threei}  either deep pullback begging to be bought,

[09:21] {Threei}  or opening range break

[09:22] {Threei}  FAC, BAC

[09:22] {Threei}  FAS, sorry

[09:22] {Threei}  WFC

[09:22] {Threei}  in short, all usual suspects

[09:26] {Threei}  60 cents pullback from yesterday's high is fairly tempting on FAS

[09:28] {nemo} except that it started the day yesterday around 5

[09:29] {tomg} good morning

[09:29] {Threei}  tom :)

[09:29] {Threei}  OK, if first move is buying, I'll skip it

[09:29] {Threei}  too big chance of immediate smakcdown

[09:30] {Threei}  one more leg of selling please, and I'll get interested

[09:31] {Threei}  BAC

[09:31] {Threei}  .11 long

[09:31] {Threei}  stop under 7

[09:32] {dino} qid close trade stop to .10

[09:32] {dino} out +.50

[09:33] {Threei}  half out BAC .24

[09:33] {ese} nice dino

[09:33] {Threei}  scalpers get out

[09:33] {dino} livermore trade, when lucky take it

[09:33] {tomg} ty vad

[09:33] {Threei}  tom :)

[09:34] {Threei}  missed FAS, waiting for pullback

[09:34] {ese} L fas .54

[09:34] {dino} cedc gap around 10.20, maybe working it

[09:35] {ese} out fas .64 full lot

[09:35] {Threei}  nice scalping footwork

[09:36] {Threei}  FAS, entry just under .40 feels right

[09:36] {ese} nice and quick

[09:36] {Threei}  first sign of strength

[09:36] {Threei}  with stop under .30

[09:36] {ese} looking at NRGY

[09:36] {Threei}  in .39

[09:36] {cosmo} NRGY needs to hold 22

[09:36] {Threei}  for hard core scalpers stop under .35

[09:36] {ese} agreed cos

[09:37] {Threei}  1:1 in a hurry

[09:37] {magoo} man..i missed both

[09:37] {Threei}  BAC over 1:2

[09:37] {Threei}  stop to .14 if still holding balance

[09:38] {ese} nrgy invalidted for me

[09:38] {Threei}  FAS stop to .39 if holding full or half

[09:41] {Threei} Long Setup:  WFC  .40 break half lot

[09:41] {Threei}  satop under .30

[09:43] {vint} in

[09:43] {Threei}  .50 break should set it free

[09:43] {dino} ttes

[09:44] {magoo} in wfc

[09:44] {wulff} go my son fly

[09:44] {Threei}  over 1:1

[09:44] {Threei}  1:2, half out

[09:44] {wulff} be freeeeee

[09:44] {Threei}  scalpers know what to do

[09:44] {ese} bstop FAS .61

[09:44] {ese} L .61

[09:44] {magoo} out .64 TY

[09:45] {Threei}  finally, magoo woke up and got some profits

[09:45] {magoo} really..was way slow early

[09:45] {Threei}  BAC didn't reallyt follow through on this spike

[09:45] {Threei}  closing the trade

[09:45] {magoo} good exit tho

[09:45] {Threei}  yup

[09:45] {Threei}  market is spikey

[09:46] {Threei}  hmmm

[09:46] {Threei}  another entry coming

[09:46] {Threei}  .36 long

[09:46] {Threei}  if syas above .30

[09:48] {Threei}  hit over 1:1 quickly earlier but really, with such tight stop want to try for moee

[09:48] {Threei}  more

[09:48] {Threei}  half out or scalp here

[09:48] {Threei}  me half out +.12

[09:49] {Threei}  stop is still same, under .30

[09:50] {Threei}  PREVIEW: FED'S BERNANKE AND TREASURY'S GEITHNER ARE SCHEDULED TO TESTIFY BEFORE THE HOUSE FINANCIAL SERVICES COMMITTEE ON THE GOVT RESCUE OF AIG

[09:50] {Threei}  - text of the testimony was released earlier and Q&A will begin later in the hour.

[09:50] {Threei}  PREVIEW: JAN HOUSE PRICE INDEX (M/M) DUE OUT AT 10AMET

[09:50] {Threei}  **consensus expectation: -0.9%e v +0.1% prior

[09:50] {Threei}  PREVIEW: MARCH RICHMOND FED INDEX DUE OUT AT 10AMET

[09:50] {Threei}  **consensus expectation: -51e v -51 prior

[09:50] {Threei}  - estimates range between -44 to -54

[09:52] {dino} sm l ttes .51

[09:53] {Threei}  good boy FAS

[09:53] {Threei}  finally

[09:53] {Threei}  out balance .69, +.30

[09:55] {Threei}  out WFC balance

[09:55] {Threei}  .58, +.22

[09:55] {ese} out fas .80 +.19 full lot

[09:55] {Threei}  okay... so far so good, 4 out of 4

[09:56] {Threei}  a bit too fast

[09:56] {Threei}  but that's morning trades...

[09:57] {dino} you're a machine

[09:57] {wulff} drys is screaming

[09:57] {nemo} machine with a sense of humor lubricated by vodka

[09:57] {Threei}  don't give nemo ideas

[09:57] {Threei}  awww... too late

[09:58] {Threei}  looked at it earlier wulff, couldn't get a read on it.... grrr

[09:58] {dino} lol

[09:58] {wulff} I am swing trade

[09:58] {Threei}  EGLE moves with it too

[09:59] {Threei}  ok, let's wait for numbers in 2 min

[09:59] {Threei}  lest we get caught

[09:59] {Threei}  *MARCH RICHMOND FED MANUFACTURING INDEX: -20 V -51E

[09:59] {dino} v sm l .00

[10:00] {Threei}  JAN HOUSE PRICE INDEX (M/M): +1.7% V -0.9%E

[10:00] {Threei}  wow

[10:01] {magoo} out your wfc .76

[10:01] {magoo} ty

[10:01] {Threei}  welcome

[10:01] {magoo} only 2 i caught

[10:01] {wulff} thanks for those numbers vad

[10:01] {ese} L HIG .50

[10:02] {Threei}  ummm... welcome of course but I haven't produced them... economy did {G}

[10:02] {Threei}  I will take credit if you insist

[10:03] {Threei}  so far long bias proves right

[10:03] {Threei}  let's wait for pullback or consolidation/break now

[10:05] {Threei}  I would like pullback to 7 or slightly below on FAS, at least

[10:05] {Threei}  if it never loses 7.10, well, break over 7.20 is a play

[10:05] {Threei}  jst more risky

[10:06] {Threei}  better... a bit more down please

[10:06] {Threei}  ok, first strength from here

[10:07] {Threei}  stop under 6.95

[10:07] {Threei}  keep it tight and look for re-entry if stopped

[10:08] {magoo} in 04

[10:09] {Threei}  ICE

[10:09] {Threei}  PRICE TARGET RAISED TO $90 FROM $80 AT SANDLER O'NEILL, MAINTAINS BUY RATING (TIMING UNCERTAIN)

[10:10] {Threei}  Senate is back to really pressing issues

[10:10] {Threei}  namely, AIG bonuses

[10:10] {Threei}  no worky FAS

[10:10] {dino} waste of time, doesn't anybody work there anymore

[10:11] {Threei}  FAS shakeout eh?

[10:11] {Threei}  whatever

[10:13] {dino} qsii

[10:13] {ese} out HIG ,55 +.05 lot and a half

[10:14] {cosmo} fmcn

[10:14] {cosmo} 6.33 hod

[10:15] {dino} darn not avail qsii

[10:16] {fernp} XL C&H Vad?

[10:17] {Threei}  looks like, worth a try at .38 if stays above .30 for a scalp,

[10:17] {Threei}  above .20 for a daytrade

[10:21] {Threei}  Terrific Tim is speaking

[10:21] {dino} v stop is .79 fweiw

[10:21] {cosmo} fmcn gonna test

[10:21] {Threei}  he shares outrage about AIG compensation AND about the very system of those

[10:22] {Threei}  isn't it a bit rich coming from Fed?

[10:22] {Threei}  ok, former Fed

[10:22] {dino} seems to me there are other issues tim could be working on

[10:23] {dino} kangaroo court

[10:23] {cosmo} thinking cap?

[10:23] {ese} L HIG again .49 lot and a half

[10:23] {Threei}  US HOUSE REP BOEHNER: TREASURY PROPOSAL FOR UNWINDING OF NON BANK ENTITIES A 'TREASURY POWER GRAB'

[10:23] {Threei}  duh

[10:24] {ese} butting up against .50 for awhile...should take off when market turns up

[10:24] {dino} him and barney hang out

[10:25] {ese} dino HUBG would have been a nice play......missed it

[10:25] {dino} v stopped -.22

[10:26] {Threei}  NFLX... the wierdest thing on earth

[10:26] {dino} nflx rocking

[10:26] {pita} day job - ty Vad FAS BAC WFC

[10:26] {Threei}  welcome pita

[10:26] {dino} v rinsed

[10:26] {Threei}  FAS regained strength

[10:27] {ese} away we go

[10:28] {Threei}  nice entry on HIG ese

[10:28] {ese} out HIG .69 +.20 on a lot and a 1/2.....I like it

[10:28] {Threei}  beauty

[10:28] {Threei}  wtg

[10:28] {dino} gj

[10:28] {ese} tks....

[10:29] {ese} HIG seems like a nice easy day tradin stock....

[10:29] {Threei}  who unplugged the market?

[10:29] {Threei}  or tripped over the cord?

[10:29] {nemo} Geithner

[10:30] {Threei}  nah, he is done

[10:30] {dino} ttes spiked down stopped -.30

[10:30] {Threei}  Ben is speaking now

[10:30] {Threei}  but none of them says anything of sybstance

[10:30] {dino} smackdown

[10:30] {Threei}  just "me outraged too"

[10:32] {dino} i go to make pot of coffee, we lose 50+ pts

[10:32] {Threei}  HIG is back into your entry ese

[10:33] {Threei}  I'd assume it wil be scalpable qwith market bounce

[10:34] {cosmo} {....waiting for any Ben/Tim ideas on the 'moral imparitive'

[10:35] {cosmo} no matter ...sigh

[10:35] {Threei}  I need new vocabulary...

[10:35] {cosmo} google it

[10:35] {Threei}  out of what cosmo said, mine has only "for" and "the"

[10:37] {cosmo} imperative ...sorry

[10:37] {dino} waiting for another lecture on life from obamination

[10:37] {Threei}  big one is coming this evening dino

[10:37] {Threei}  and I'd assume couple small ones meanwhile

[10:37] {dino} seems like he "scolds" everybody

[10:38] {cosmo} our new obamanation

[10:38] {ese} Long HIG ..42 

[10:39] {Threei}  no sign of market bounce yet ese...

[10:39] {Threei}  or FAS

[10:39] {ese} ya ...was hoping bounce off lower bollinger band

[10:40] {ese} maybe not

[10:40] {Threei}  nah, you were right

[10:40] {nemo} might be scalp time though

[10:41] {dino} ati sm l .58

[10:42] {ese} out HIG .50 +.08

[10:42] {ese} lot and 1/2 again

[10:42] {Threei}  {--- can safely go to Bahamas

[10:42] {nemo} giving Dino a run for his "money"

[10:43] {ese} up 450.00 on this thing alone.....trades right for me.....weird feeling

[10:43] {nemo} explain: {&Threei} {--- can safely go to Bahamas

[10:43] {dino} kicking my butt today, but afternoons are mine

[10:43] {Threei}  people trade nicely without my help...

[10:43] {nemo} whoa!  Hear that ese?  Dino's gonna' kick yur ass this afternoon

[10:44] {dino} lol

[10:44] {ese} he can definately do that

[10:44] {ese} I'll be at work

[10:45] {Threei}  but ese usually successfully defuses that threat by leaving for the aftrenoon :)

[10:45] {nemo} ahhh...another maxim...don't be there!

[10:45] {dino} lately i do most of my profit in p.m., thats all

[10:45] {nemo} Just trying to stir the pot

[10:46] {ese} if were scoring in days.......dino 364  ese 1

[10:46] {nemo} wasn't it like 4356 to 1, and then Vad corrected that it was only 4354 or something like that?

[10:46] {dino} doubt that

[10:47] {nemo} tough crowd

[10:47] {dino} indeed

[10:48] {ese} indeed

[10:48] {Threei}  I am lost

[10:48] {Threei}  but never mind

[10:48] {Threei}  that's my normal state

[10:48] {nemo} what were the name of those two incredibly polite cartoon chipmunks?

[10:48] {Threei}  I tend to oscillate between lost and confused

[10:48] {nemo} "Dazed and Confused"

[10:49] {cosmo} but happy

[10:49] {nemo} Dino, think Vad gets the reference?

[10:49] {dino} v .99 l

[10:50] {Threei}  for that I would have to watch it

[10:50] {Threei}  and I did promise my kids I would

[10:50] {nemo} watch what?

[10:50] {Threei}  sigh

[10:50] {cosmo} FMCN salmon ....next locks at 6.45

[10:51] {nemo} Oh no, caught in my own web...I was commenting on a song title

[10:51] {fernp} out XL 1:1

[10:51] {fernp} ty vad

[10:51] {Threei}  welcome, but it was your find :)

[10:51] {Threei}  I just provided commentary

[10:52] {nemo} V lookin' good Dino

[10:52] {fernp} then thanks for you comments

[10:52] {Threei}  lol

[10:52] {dino} v stop to .12

[10:53] {dino} to .19

06[10:53] * Threei orders a new sign for his door: "Accept credits for anything, from calls I didn't make to saving planets I never heard of"

[10:53] {dino} out +.20

[10:53] {Threei}  US SENATOR DODD: COUNCIL INCLUDING FED, FDIC, AND OCC COULD BE OPTION AS SYSTEMIC RISK REGULATOR, UNCERTAIN WITH FED AS SOLE REGULATOR

[10:54] {dino} yes lets just adde 1000 people to make sure nothing ever gets done and blame goes nowhere

[10:55] {Threei}  what's with PALM happiness

[10:55] {ese} here we go again L HIG .41

[10:56] {dino} mcd l .80

[10:57] {Threei}  WCG

[10:57] {Threei}  HEARING TAKEOVER CHATTER CIRCULATING

[10:57] {Threei}  - AET rumored as potential acquirer

[10:57] {elepet} i don't know (palm) but i'm in it .

[10:58] {Threei}  swing trade from before?

[10:58] {ese} hmmmm QQQQ was looking like it wanted to go through .45....maybe not

[10:58] {elepet} from yesterday at 8

[10:59] {elepet} bank stocks were driving me crazy

[10:59] {ese} dare veee gohh

[11:00] {ese} hig.....pees fadow

[11:00] {ese} nope

[11:01] {ese} stop .20

[11:03] {Threei}  yawn

[11:03] {magoo} vad..im slow today..we in anything?

[11:03] {Threei}  in coma... as usual

[11:03] {magoo} cool manyanas

[11:04] {dino} haste bananas

[11:04] {ese} ahhhhhhh

[11:04] {Threei}  strange spikes

[11:04] {dino} ttes l .10

[11:05] {Threei}  TREASURY'S GEITHNER: TREASURY HAS NOT MADE JUDGEMENT ON REQUEST FOR ADDITIONAL TARP CAPITAL

[11:05] {VINOD} interesting to watch decay in faz

[11:05] {dino} and the crowd goes "ooohhh"

[11:06] {ese} HIG do the right thing....as spike lee would say.........follow the Q's

[11:06] {nemo} and the c girls sing da doo da doo...or whatever Lou sai

[11:06] {nemo} said

[11:06] {Threei}  (IR) IRISH FIN MIN: WILL BE EXPLORING IRISH BANKING EXECUTIVES BONUSES

[11:06] {Threei}  but of course

[11:06] {nemo} "c" is politically correct

[11:08] {Threei} Long Setup:  ADBE  .87 if stays above .80

[11:08] {Threei}  grrr

[11:08] {Threei}  .07

[11:08] {Threei}  if stays above 22

[11:08] {Threei}  sorry for confusion

[11:08] {dino} roflol nemo

[11:09] {dino} you guys are in a mood today

[11:09] {nemo} forgot to take my meds

[11:10] {nemo} We go from class 5 rapids to glacial movement..sheesh

[11:11] {dino} ttes stop to .34

[11:12] {dino} mcd to .91

[11:12] {dino} ttes to .47

[11:14] {dino} out ttes ave .48, +.38

[11:14] {dino} tough trying to catch es

[11:14] {fernp} ADE

[11:14] {fernp} ADBE still valid ?

[11:15] {Threei}  if makes couple move moves between 22 and 22.07

[11:15] {Threei}  need it to reestablish 22 as support

[11:15] {fernp} ok

[11:15] {ese} out HIG .49 +.08 lot and 1/2

[11:15] {dino} out mcd .92, +.12

[11:16] {dino} relentless es

[11:17] {magoo} in .06

[11:17] {fernp} missed

[11:17] {magoo} always leaps like that

[11:17] {Threei}  GE interesting relative strength

[11:18] {Threei}  slow but starts chewing confidently through levels

[11:18] {dino} ati stop to .88

[11:18] {dino} pullback coming imo

[11:19] {dino} out ati, +.30

[11:22] {dino} maybe not

[11:22] {Threei}  I can't read much in these slow drift

[11:23] {Threei}  GE stands out a bit

[11:23] {dino} geeee

[11:23] {nemo} No, G   E

[11:23] {nemo} Dino, you're not doing to badly yourself today

[11:25] {dino} mcd l .98

[11:25] {dino} 5 of 7

[11:26] {Threei}  4 out 5 here, if not count ADBE

[11:27] {dino} gj

[11:27] {fernp} out BAC +.10 micro-sclaping the only way to make money today :)

[11:27] {Threei}  why not

[11:27] {dino} agree on the scalping

[11:28] {dino} mcd wall of china at .00

[11:29] {dino} or berlin

[11:30] {Threei}  GE just goes

[11:30] {Threei}  ignoring market and FAS

[11:31] {nemo} might be indicating the other parts of the company might be breathing again soon

[11:33] {dino} don't over think it imo

[11:34] {nemo} not...who knows why, but it's been acting like a financial with a slew of other businesses attached

[11:37] {Threei}  BAC aiming for green it seems

[11:38] {nemo} ...I'll leave it alone

[11:38] {wulff} I'm leaving. Feel free to rally now.

[11:38] {Threei}  both FAS and BAC start looking like preparing fopr the run

[11:39] {wulff} see

[11:39] {Threei}  sorry wulff

[11:41] {dino} ty wuff

[11:42] {dino} mcd stop to flat

[11:43] {Threei}  FED'S DUDLEY: UNCERTAIN WHAT CAPITAL MAY BE NEEDED BY AIG IN FUURE

[11:43] {Threei}  {AIG}

[11:43] {Threei}  you and the whole USA dear Dudley

[11:44] {cosmo} gold?

[11:44] {cosmo} nah....too soon

[11:44] {Threei}  ?

[11:45] {dino} watching ttes again

[11:46] {cosmo} gold is the 'sustainable currency'

[11:47] {Threei}  not going to happen

[11:47] {Threei}  fiat is with us forever, IMO

[11:47] {cosmo} omg

[11:48] {nemo} look at China's call for a international currency

[11:48] {Threei}  that's bs

[11:48] {cosmo} globero

[11:48] {dino} agree, gold would ruin the politicians

[11:48] {Threei}  whole new currency for whole wrld?

[11:48] {nemo} what's bs?

[11:48] {Threei}  how's euro working for europe?

[11:48] {nemo} no...using IMF SDRs which were created in the 70s

[11:48] {Threei}  who will manage it?

[11:48] {nemo} IMF

[11:48] {Threei}  what are the implications for world trade?

[11:49] {Threei}  ah IMF

[11:49] {dino} mcd stopped +.01

[11:49] {cosmo} hmmm

[11:49] {Threei}  famous for its immense financial wisodm

[11:49] {nemo} likely to reduce imbalances...will force fiscal discipline

[11:49] {Threei}  and of course all counttries in the world will be happy to sybmit

[11:49] {Threei}  hehe

[11:50] {nemo} well, they submit to the US now, they seem to be getting sick of it

[11:50] {Threei}  dreams of grandfather Mazai...

[11:50] {Threei}  last headline:

[11:50] {Threei}  China continues buying USA debt

[11:50] {Threei}  any questions?

[11:50] {Threei}  all that grandsdtanding is bs

[11:51] {Threei}  siundbites worth exactly nothing

[11:51] {dino} imf is famous for bad loans nemo, no way they fix something

[11:52] {dino} they come in and screw up everything

[11:52] {nemo} I don't disagree...progress is rarely progressive

[11:52] {dino} imo, nothing changes

[11:52] {Threei}  exactly dino

[11:52] {Threei}  and whole world knows that

[11:52] {dino} agree

[11:52] {Threei}  they mishandled asian financial crisi badly

[11:52] {dino} it's a big game

[11:52] {Threei}  under Geithner's management btw

[11:52] {nemo} russia too

[11:53] {dino} tell them what they want to hear, business as usual

[11:53] {Threei}  yup

[11:53] {ese} signing off everyone......dino take over from here will ya.....see ya tomorow

[11:53] {Threei}  take care ese, great job

[11:53] {fernp} bye ese

[11:53] {dino} weill do es, take care

[11:53] {dino} will

[11:53] {Threei}  there is no entity in the world that could move ahead with such grandiose undertaking as creation of world's currency

[11:54] {ese} tks......oddly enough i watched your scalping video again on the weekend

[11:54] {ese} see ya

[11:54] {Threei}  nor there is a will to create any kind of union capable of that

[11:54] {dino} yeah took me awhile to make that video

[11:54] {cosmo} nature wiil bring chaos to order

[11:54] {Threei}  lol dino

[11:55] {dino} :)

[11:55] {Threei}  it's my role to take credits for someone's achievements

[11:55] {Threei}  nemo, I am willing to make a bet

[11:56] {Threei}  all soundbites from China, Russia whoever else

[11:56] {Threei}  about replacing USD as reserve currency will never come to fruition

[11:56] {Threei}  all they'll acieve is furious discussions on various forums and boards

[11:57] {Threei}  case of vodka?

[11:57] {cosmo} ...then we will use tobacco

[11:57] {cosmo} again

[11:57] {dino} lol

[11:57] {nemo} never is a long time.  I don't think it'll be in the next few years..that is..since the world ends in 2012...

[11:57] {Threei}  oh

[11:57] {larisa} it does ?

[11:57] {dino} well then it is never if world ends

[11:58] {Threei}  right

[11:58] {nemo} Yeah...that's why the NFL's collective bargaining agreement ends on 2010

[11:58] {dino} i like it when a plan comes together

[11:58] {cosmo} 2012 is when the next one starts

[11:58] {Threei}  FED'S BERNANKE: TRADING CDSS THROUGH A CENTRAL COUNTERPARTY COULD EASE RISKS; AIG TRADED CDS THROUGH LACK OF HEDGING - Q&A

[11:58] {Threei}  - Recommends against stopping the CDS market as it may have negative fallout{AIG XLF NYX NDAQ}

[11:58] {nemo} thanks George

[11:58] {cosmo} i'm optimistic

[11:59] {larisa} I am too young to .. end..  

[12:00] {nemo} maybe you'll be one of the chosen people...you Jewish?

[12:00] {larisa} I want to end when I am 126

[12:00] {larisa} I am not

[12:00] {Threei}  126?

[12:00] {nemo} We're both screwed

[12:00] {larisa} can i become one fast ?

[12:00] {Threei}  I sincerely hope to, umm, expire looong before that

[12:00] {larisa} :)

[12:00] {cosmo} i may have to come out of retirement to serve the meek until the day i depart

[12:01] {cosmo} even if its a cashless society

[12:01] {nemo} Mags must be going nuts

[12:01] {Threei}  REPORTEDLY SOME US SENATORS PUSHING AG DEPT TO RAISE LIMITS ON US SUGAR IMPORTS TO AVERT A SHORTAGE IN DOMESTIC SUPPLIES

[12:01] {Threei}  {JJG IPSU}

[12:11] {dino} .

[12:12] {larisa} was wondering if it is 2012 already :)

[12:14] {dino} nite l .85

[12:15] {dino} ttes l .60

[12:16] {Threei}  MERRILL/BOA MAKING COMMENTS ON GAMING SECTOR, NET POSITIVE ON LVS (TIMING UNCERTAIN)

[12:16] {Threei}  - Cites LVS filed amendment to credit facility and its possibility to cushion a US convenant yet Macau convenants are still a risk

[12:16] {Threei}  - Merrill/BoA comments that MGM situation remains up in the air due to Dubai World lawsuit, even with MGM response that the lawsuit was without merit and that it is ready willing and able to fund its share of the costs to complete CityCenter{

06[12:24] * Threei slaps Chaeron around a bit with a large roll of cash

[12:24] {dino} v blood

[12:34] {KSystems} *yawn

[12:34] {Threei}  I second that

[12:37] {Threei}  lol, looking at RIMM... I don't think I remember it trading that slow, ever

[12:37] {dino}  ttes stopped .50 -.10

[12:46] {Threei}  oh boy... who would have expected the day to turn so slow and boring?

[12:48] {vint} is this quiet before the storm?

[12:48] {Threei}  very possibly

[12:48] {Threei}  things slowly drift upward

[12:48] {nemo} coul be the quiet before the quiet

[12:48] {Threei}  if highs start geting broken, expolosion is very likely outcome

[12:49] {nemo} C&H on Rimm?

[12:49] {Threei}  yes

[12:50] {Threei}  .50 should launch it if market helps

[12:50] {nemo} in

[12:51] {magoo} in.48

[12:51] {vint} in

[12:53] {Threei}  gosh... tell me hinstly, you ever seen this stock this slow??

[12:53] {Threei}  honestly too

[12:54] {magoo} oout .64 TY

[12:54] {nemo} scalp thanks

[12:54] {Threei}  it's RIMM for pete's sake

[12:54] {Threei}  widowmaker

[12:54] {nemo} still lunch time

[12:54] {Threei}  tame like little lamb

[12:55] {Threei}  OK... FAS/BAC back on watch

[12:55] {Threei}  US PRESIDENT OBAMA: REITERATES REGULATION MUST BE GLOBALLY COORDINATED TO BE EFFECTIVE, SEES G20 MEETING OF THE MINDS

[12:55] {Threei}  - imperative to have regulatory framework to address global capital flows that pose systemic risk

[12:56] {dino} rimm stop to .67

[12:56] {Threei}  YOUTUBE UNIT SAYS BLOCKED IN CHINA - WSJ

[12:56] {Threei}  - WSJ reports the video service was slowly blocked over the last 24 hours; company says it does not know the reason for the Chinese action.

[12:57] {dino} to .74

[12:57] {dino} ty vad

[12:58] {Threei}  sure thing

[12:58] {nemo} geez...I have my first broken clock moment and HE gets the credit...sheesh

[12:58] {dino} to .85

[12:59] {Threei}  [11:55] {Threei} it's my role to take credits for someone's achievements

[12:59] {dino} out rimm .85, +.30

[12:59] {dino} opps, thx nemoooooooooooooooo

[12:59] {nemo} What's your's is mine, what's mine is mine, and what's ours is mine...yep...heard that before

[12:59] {vint} rimm out +.25

[13:00] {dino} v spike

[13:00] {Threei}  variation: let's eat yours first, then each his own

[13:01] {nemo} Can take the boy out of the Soviet Union, but you can't take the Soviet Union out of the boy

[13:01] {Threei}  FAS, watch for long entry under .10

[13:01] {Threei}  desirably closer to 7

[13:04] {Threei}  if it doesn't lose .10, decide between agressive entry and regular

[13:04] {Threei}  rehular being .20 break

[13:06] {Threei}  US REPORTEDLY CONSIDERING BILL TO GRANT NON PROFIT STATUS FOR NEWSPAPERS

[13:06] {dino} cpla spanked

[13:06] {Threei}  {NYT GCI MNI WPO NWSA}

[13:07] {dino} now i've heard it all

[13:08] {Threei}  bailout becvomes just global

[13:08] {Threei}  bail out anything you meet

[13:08] {Threei}  anyone found FAS entry, keep stop under 7

[13:09] {Threei}  look to sell half close to .20

[13:09] {Threei}  you can always scalp of course, but feels to me, this is about to get interesting

[13:14] {Threei}  half out .18

[13:16] {Threei}  come on FAS, break down that wall

[13:18] {Threei}  game plan:

[13:18] {Threei}  once .20 broken, stop to under .10

[13:19] {Threei}  offer 1/4 closer to .30

[13:19] {Threei}  then will reevaluate

[13:20] {dino} v l .10

[13:20] {Threei}  1/4 more out .27

[13:20] {Threei}  told ya it was about to get interesting

[13:21] {Threei}  last portion, stop is still under .10

[13:21] {Threei}  and will try to get out closer to 7.50

[13:22] {Threei}  if FAS continues, GE .90 break long

[13:22] {Threei}  with stop under .80

[13:26] {Threei}  [12:48] {Threei} if highs start geting broken, expolosion is very likely outcome

[13:26] {Threei}  this is the slowest explosion I've ever seen

[13:26] {Threei}  but I'll take it

[13:26] {Threei}  FAS is getting there

[13:27] {Threei}  WHITE HOUSE ADVISOR VOLCKER: CHINA SHOULD NOT PUT ALL THE BLAME FOR IMBALANCES ON THE US

[13:28] {Threei}  out FAS .36

[13:28] {Threei}  +.30

[13:29] {Threei}  feels like pullback is coming

[13:29] {vint} fas out +.3

[13:29] {Threei}  high five

[13:29] {Threei}  or back slap

[13:30] {Threei}  your choice

[13:30] {vint} thanks vad

[13:30] {Threei}  welcome :)

[13:30] {Threei}  YOUTUBE WORKING TO RESOLVE PROBLEM IN CHINA

[13:30] {Threei}  oh good

[13:30] {Threei}  I was so worried about China not watching youtube videos

[13:33] {Threei}  US REP FRANK: HEDGE FUNDS SHOULD BE REQUIRED TO REGISTER WITH THE SEC

[13:33] {i2romantis} nice pullback

[13:34] {Threei}  I am not sure whether it's technical or reaction on this headline

[13:34] {Threei}  staying on a sideline

[13:34] {Threei}  GE no worky

[13:35] {Threei}  if it's technical, this is certainly an entry point

[13:35] {Threei}  if news-caused, no read

[13:35] {nemo} that "if" is an issue

[13:35] {Threei}  so I kind of prefer to err on a safe side

[13:35] {Threei}  and not to spoil near-perfect day

[13:38] {Threei}  whgile I remember... gtrader, lgcapital, pukac,

[13:38] {nemo} what?

[13:38] {Threei}  your trial falls on the time I leave to give seminar in the Bahamas,

[13:38] {Threei}  I won't be here from Friday to Thursday of the next week

[13:38] {nemo} seminar=vacation heheheheh

[13:39] {Threei}  so feel free to mingle with the gang meanwhile

[13:39] {nemo} Vad are you back trading on Thursday or Friday?

[13:39] {Threei}  and we will resume after my return

[13:39] {Threei}  if you get an euto e-mail telling you trial is over, just ignore it

[13:40] {Threei}  well, my return flight lands on Wed evening

[13:40] {Threei}  if I am alive, will be in the room Thu morning

[13:41] {Threei}  now, about this evilish implication:

[13:41] {Threei}  [13:38] {nemo} seminar=vacation heheheheh

[13:41] {Threei}  7 1/2 sessions over 2 days

[13:42] {Threei}  not my idea of vacation :)'

[13:42] {nemo} actually, you've got the brunt of the duties down there

[13:42] {Threei}  that's fine

[13:42] {vint} why Bhamas?

[13:42] {Threei}  I am one of those weird creatures who enjoy public speaking

[13:42] {Threei}  why no vint... nice spot :)

[13:43] {nemo} funny...struck me as the shrinking violet...wallflower type

[13:43] {Threei}  me??

[13:43] {Threei}  lol

[13:43] {vint} right, but are participants from Bhamas or they are alos visiting Bhamas

[13:43] {Threei}  wait for me about 30 minutes, that's how long it will take me to recover from groundshaking laughter

[13:43] {nemo} what vint ask?

[13:43] {Threei}  no, visiting

[13:44] {Threei}  people take vacation, attend seminar, write vacation off their taxes...

[13:44] {Threei}  ideal arrangement

[13:45] {vint} good idea

[13:45] {Threei}  there is time still to register I suppose :)

[13:45] {nemo} yep

[13:47] {vint} ge back

[13:47] {vint} ?

[13:47] {Threei}  not sure...

[13:47] {Threei}  tough to read

[13:48] {vint} k,thx

[13:49] {vint} on 5 mt, it looks like C&H

[13:49] {Threei}  sure does

[13:49] {Threei}  what bothers me is

[13:49] {Threei}  FAS looks absolutely unclear here

[13:49] {Threei}  and if you look at GE's volume,

[13:50] {Threei}  it has no pattern throughout the C&H

[13:50] {Threei}  it's practically flat

[13:50] {vint} got it, thx

[13:50] {Threei}  no this vilume increase toward the C&H rims and volume drop toward both bottoms

[13:51] {Threei}  FED'S DUKE: FED HAS BEEN 'AGGRESSIVE' WITH MONETARY POLICY

[13:51] {Threei}  yeah?

[13:51] {Threei}  OCC EXAMINERS: WILL NOT ASK BANKERS TO RESTRUCTURE LOANS, PRICING, OR LOAN LIMITS

[13:51] {Threei}  {XLF}

[14:03] {Threei}  IMF: NEEDS 'SUBSTANTIAL' INCREASE IN RESOURCES; APPROVES INCREASE IN FLEXIBILITY IN STANDBY ARRANGEMENTS; APPROVES NEW CREDIT LINE FOR EMERGING MARKETS FOR SIX OR 12 MONTH PERIODS

[14:03] {Threei}  - There is no hard cap on credit line a country may request

[14:03] {Threei}  - Will eliminate the time based policy that was designed to incentivize early repayments

[14:04] {Threei}  yeah... these are the guys we want to issue and manage world's reserve currency

[14:08] {Threei}  nice bounce on FAS, but GE is not really shaping up

[14:08] {Threei}  BAC is better candidate

[14:08] {nemo} bac in a range since 1:20

[14:09] {Threei}  if FAS continues, 8 break is ineterstiung for BAC

[14:09] {dino} ttes l .50 trig

[14:09] {Threei}  ineterstiung?

[14:09] {Threei}  sigh

[14:09] {magoo} back

[14:14] {Threei}  if we finish the day around here, rally resumption is likely tomorrow

[14:14] {Threei}  well, barring news of course

[14:14] {dino} gmrc ahain

[14:14] {dino} again

[14:15] {Threei}  I like BAC's strength

[14:15] {dino} gmcr i mean

[14:15] {Threei}  won't pullback even as FAS does

[14:17] {Threei}  great

[14:17] {nemo} prez speaking

[14:17] {Threei}  FAS teleported to 7.30 just as I started typing buy at .22

[14:18] {Threei}  OFFICE OF THRIFT SUPERVISION(OTS): CURRENTLY OBTAINING DAILY LIQUIDITY REPORTS IN EFFORTS TO INCRTEASE SUPERVISION OF HIGH RISK THRIFTS

[14:20] {magoo} vad, news RIMM..its realatively weak

[14:21] {nemo} NAS is weak today

[14:21] {Threei}  no news

[14:24] {magoo} on what?

[14:24] {Threei}  lol

[14:24] {nemo} Who's on first?

[14:28] {Threei}  IMF'S LIPSKY: GLOBAL CURRENCY IDEA IS NOT A NEW ONE, BUT IT WILL LIKELY GET SERIOUS CONSIDERATION

[14:28] {Threei}  uhhu

[14:28] {nemo} Case of gray goose please

[14:28] {nemo} grey

[14:29] {Threei}  or gray

[14:29] {_pukac} in ukraina which city you from

[14:29] {nemo} Wait a minute, that's French...Kettle 1

[14:29] {Threei}  Dnepropetrovsk

[14:29] {KSystems} Bless ya

[14:29] {Threei}  thank you

[14:29] {nemo} is that on the Dneiper?

[14:30] {Threei}  yes

[14:30] {nemo} interesting

[14:30] {_pukac} ok im from Poland Zakopane

[14:30] {Threei}  FED'S BULLARD: TO BEGIN OUTRIGHT PURCHASES OF TREASURIES TOMMOROW

[14:30] {magoo} polish women are quite good looking

[14:30] {_pukac} lol

[14:30] {Threei}  never been there...

[14:31] {Threei}  will take magoo's word on that

[14:31] {nemo} his wife must be polish

[14:31] {_pukac} Tatry mointain

[14:31] {nemo} and standing over his shoulder

[14:32] {KSystems} are your wives watching you trading?

[14:32] {magoo} :)

[14:33] {nemo} Funny...I believe the CHinese character for trouble or crisis, is the pictogram representing two women under one roof

[14:33] {nemo} I'm not kidding

[14:33] {Threei}  REPORTEDLY FRECH PRESIDENT SARKOZY HAS SAID WANTS TO ELIMINATE BUSINESS TAX

[14:34] {KSystems} what news is pushing GLD here?

[14:34] {Threei}  14:30] {Threei} FED'S BULLARD: TO BEGIN OUTRIGHT PURCHASES OF TREASURIES TOMMOROW

[14:34] {Threei}  [14:30] {magoo} polish women are quite good looking

[14:34] {Threei}  umm

[14:34] {KSystems} lol

[14:34] {Threei}  first line

[14:34] {KSystems} thanks

[14:34] {KSystems} :)

[14:34] {Threei}  not second :)

[14:35] {Threei}  FED'S BULLARD: SEES DISINFLATION RISKS; MUST ADDRESS TOO BIG TOO FAIL ISSUES

[14:35] {Threei}  - Increasing money supply will help avoid deflation; Fed can still increase balance sheet and avoid real interest rate increases

[14:35] {Threei}  - Fed should create a specific inflation target

[14:39] {Threei} Long Setup:  BAC  .81 if stays above .75

[14:45] {magoo} in

[14:46] {magoo} grrrrr

[14:48] {Threei}  okay finnies

[14:48] {Threei}  enough games

[14:48] {Threei}  let's go

[14:49] {dino} giddy-up

[14:49] {Threei}  hmmm

[14:49] {Threei}  immediate reaction was giddy-down :)

[14:50] {Threei}  feels like shakout attempts to me rather than genuine selling

[14:51] {dino} whats w/gmcr up big every day?

[14:52] {Threei}  no idea

[14:52] {Threei}  stopped BAC

[14:52] {fernp} no go BAC

[14:53] {Threei}  WHITE HOUSE ADVISOR VOLCKER: CAPITAL MARKETS NEED NOT THE REGULATION OF THE BANKING SECTOR

[14:53] {Threei}  {XLF}

[14:53] {Threei}  what then?

[14:53] {Threei}  and why do we sell on this?

[14:54] {dino} fcty

[14:54] {dino} no

[14:55] {Threei}  FED'S HOENIG: ECONOMY WILL RECOVER, TIMING UNCERTAIN; DEFLATION IS CLOSE TO THE BOTTOM OF PRIORITIES

[14:55] {Threei}  - Notes that this recent plan from the US Treasury makes assumption that majority of losses have already been taken

[14:55] {Threei}  - Fed does not need the ability to issue bills{

[14:56] {Threei}  too many talking heads at the same time

[14:58] {cosmo} i was gonna say something, but,...

[15:08] {Threei}  hmmm

[15:09] {Threei}  becomes tempting

[15:09] {Threei}  FED'S BULLARD: THERE ARE UPSIDE AND DOWNSIDE CONCERNS WITH REGARDS TO INFLATION -Q&A

[15:09] {Threei}  really?

[15:09] {Threei}  sheesh

[15:10] {cosmo} you need to be properly invested

[15:11] {cosmo} hi grade beach sand .... i'm thinking

[15:12] {dino} look at tbt

[15:14] {cosmo} fmcn should hold 6.50 imo

[15:14] {cosmo} fwiw

[15:14] {dino} sm l tbt .25

[15:17] {Threei}  double bottom BAC...

[15:17] {Threei}  .60 break is confirmation

[15:18] {Threei}  C

[15:18] {Threei}  DOW INDEXES: REVERSE SPLIT ANNOUNCEMENT MAY CUT REQUESTS FOR ELIMINATION FROM DOW JONES INDUSTRIAL AVERAGE

[15:18] {Threei}  {GM AA BAC DIA}

[15:19] {Threei}  fairly questionable trading last 30 min

[15:20] {Threei}  selloffs out of nowhere

[15:20] {dino} ya think

[15:20] {dino} bond spike was pretty big

[15:20] {dino} pull up tlt

[15:21] {Threei}  yeah

[15:25] {nemo} this is weird

[15:25] {nemo} which means I should feel at home

[15:25] {Threei}  what is?

[15:25] {nemo} the action

[15:25] {dptl} have a good evening all

[15:25] {dino} what would move the bond that much

[15:25] {Threei}  take care dp

[15:25] {dino} cya dp

[15:26] {Threei}  market was so giddy when the plan was announced

[15:27] {Threei}  now when they start implementing it, market can't find a hole big enough to hide

[15:28] {Threei}  FDIC GRUENBERG: AGENCY SUPPORTS FASB PROPOSAL TO EASE MARK-TO-MARKET IMPLICATIONS

[15:28] {Threei}  if this doesn't send market up

[15:29] {Threei}  okay... some upticks, maybe not all is lost

[15:30] {Threei}  'cause you know, if m2m change doesn't prop the market, we are going below zero

[15:31] {Threei}  - proposal allows firms to avoid recognizance of liquidity discount for some fair valued securities

[15:31] {Threei}  too vague

[15:33] {Threei}  BRIDGEWATER ASSOCIATES HEDGE FUND SENDS LETTER TO CLIENTS; REMARKS MAY BE INTERESTED IN TOXIC ASSET PLAN, YET CONCERNS REMAINS OVER PARTNERSHIP WITH US GOVT

[15:33] {Threei}  I wonder why

[15:34] {Threei}  what could possibly be wrong in partnership with giovernement?

[15:34] {Threei}  you may be summoned to senate and grilled by idiots who don't know what your company does for a living

[15:34] {Threei}  you may get your pay cut

[15:35] {Threei}  you may get cited for crowd's fury

[15:35] {Threei}  other than that... shrug

[15:38] {cosmo} fmcn tests hod 

[15:38] {cosmo} .75

[15:40] {larisa} was a great find cosmo, strong all day

[15:40] {cosmo} :)

[15:40] {larisa} :)

[15:41] {Threei}  well, we have small red inside day on lower volume

[15:41] {nemo} little consolidation

[15:41] {Threei}  so far so good for rally continuation

[15:41] {Threei}  need break of yesterday's high for confirmation

[15:42] {Threei}  red is not very convincing

[15:42] {Threei}  -50 DJI

[15:43] {Threei}  -26 COMP

[15:43] {Threei}  unless market gets angry at my dismissal of its efforts and sells down like crazy over next 15 minutes, it's nothing

[15:47] {Threei}  I take that back market

[15:47] {Threei}  just relax

[15:47] {dino} out tbt .85, +.60

[15:53] {Threei}  quite a selloff in financials

[15:53] {larisa} I think you made it angry

[15:54] {Threei}  afraid so

[15:56] {Threei}  so, is it idea of regulating hedge funds, insurance companies etc that is kmilling them now?

[15:56] {Threei}  -117

[15:57] {nemo} FAZ IS BACK ON THE MENU BOYS!!! (and girls)

[15:58] {magoo} LORD OF THE RINGS

[15:58] {nemo} Uruk Hai

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all

[15:59] {Threei}  have a good evening, see you tomorrow

[15:59] {larisa} bye all

[15:59] {fernp} good evening all

[15:59] {VINOD} thanks vad could not be here all day. may be tomorrow

[16:00] {Threei}  we will be here :)

[16:00] {vint} good evening all, see you all tomorrow

Mar 23 2009

Beautiful day. We recognized signs of rally brewing early which is not always easy after a big gap up. Long plays only, 5 wins out of 6 early calls on FAS, BAC, WFC, HIG. Sat out some boring period while market consolidated, then got some more longs on RIMM and WFC. No complaints at all.

Session Time: Mon Mar 23 00:00:00 2009

[08:00] {Threei}  Good morning sleepless souls

[08:00] {Threei}  (US) WHITE HOUSE ADVISOR: 8% OF FUNDING FOR TOXIC ASSET PLAN TO COME FROM PRIVATE SECTOR

[08:00] {Threei}  - Toxic asset plan to be one piece of strategy, will see if banks need more capita

[08:00] {Threei}  FORMER SEC CHAIRMAN LEVITT: PPIP PLAN IS 'A LOT OF THE SAME'

[08:00] {Threei}  - PPIP is at best not guarantee for success

[08:05] {nemo} FAS!

[08:06] {Threei}  Geithner is on at 8:45

[08:06] {Threei}  with details of the plan

[08:07] {nemo} Things are rocketing out of the gate...wonder if that'll be a speed bump.

[08:30] {Threei}  if you are interested in deeper understanding of new plan by Terrific Tim, this is nice explanation:

[08:30] {Threei}  http://seekingalpha.com/article/127152-the-geithner-plan-faq?source=article_sb_popular

[08:30] {laserdave} im in laser now guys

[08:31] {Threei}  thanks Dave, in too

[08:31] {laserdave} cool

[08:31] {laserdave} now lets make some monies

[08:31] {Threei}  well, with such gaps, gotta wait a bit

[08:33] {nemo} I'm still having trouble getting in

[08:33] {Threei}  slap dave?

06[08:34] * nemo slaps laserdave around a bit with a large empty roll of cash because I can't get into LASER!!!

[08:34] {nemo} that might not hurt enough

[08:36] {laserdave} everyone is in

[08:37] {nemo} yep

[08:37] {laserdave} are you saying you are in now?

[08:37] {nemo} That's a roger

[08:37] {laserdave} ok great

[08:37] {laserdave} happy trading

[08:41] {Threei}  poor FAZ

[08:47] {Threei}  welcome back Larisa!

[08:47] {larisa} good morning, thanks :)

[08:48] {larisa} you guys having fun ?

[08:48] {Threei}  too much of it

[08:50] {pita} morning everyone

[08:51] {Threei}  pita :)

[08:53] {Threei}  just don't jump on financials here guys

[08:53] {Threei}  the risk of gap and trap is huge

[08:57] {magoo} morning

[08:58] {Threei}  magoo :)

[08:58] {dptl} good morning

[08:58] {Threei}  dp :)

[08:59] {magoo} u in pre mkt vad?

[08:59] {Threei}  PIMCO'S BILL GROSS: INTERESTED IN POTENTIAL DOUBLE DIGIT RETURNS FROM TREASURY'S TOXIC ASSET PROGRAMS

[08:59] {Threei}  - Notes that will participate in the toxic asset program

[08:59] {Threei}  - Adds that toxic asset plan should be welcomed by the markets

[08:59] {Threei}  in what?

[09:00] {magoo} anything?

[09:00] {Threei}  US TREASURY GEITHNER: STRESS TEST, ACCESS TO MORE CAPITAL WILL REDUCE ODDS OF DEEPER RECESSION

[09:00] {Threei}  no

[09:03] {Threei}  [08:53] {Threei} just don't jump on financials here guys

[09:03] {Threei}  [08:53] {Threei} the risk of gap and trap is huge

[09:04] {fernp} Hello everybody

[09:04] {Threei}  fern :)

[09:06] {Threei}  - Notes plans will assist in clearning balance sheets for banks and improve lending; Govt could not purchase assets on its own

[09:06] {Threei}  - Aims to reduce additional asset price declines; may see large deleveraging without the plan{XLF TLT IEF USD/JPY GBP/USD EUR/USD}

[09:10] {Threei}  BALTIC DRY BULK INDEX -0.5%, 9TH STRAIGHT DECLINE

[09:11] {elepet} I don't understand this (baltic down) components seem to be up today.

[09:11] {Threei}  headline on CNN says: How the bank rescue plan will work

[09:12] {Threei}  as if it was a given that it will :)

[09:12] {Threei}  well, stocks of shippers are up on generak market strength

[09:12] {magoo} a few on cnbc very skeptcal

[09:12] {Threei}  baltic index is not a market index

[09:13] {Threei}  it's reflection of physical shipment numbers

[09:13] {magoo} obama news conf tues nite tv, was on 60 minutes last nite...hes a movie star

[09:13] {dino} gm all

[09:13] {Threei}  dino :)

[09:13] {magoo} jay leno over weekend

[09:13] {elepet} oh. thanks.

[09:14] {magoo} i hear he is going to be on the next "\dancing with the stars "

[09:15] {dino} lol

[09:15] {Threei}  gap is mostly holding

[09:15] {Threei}  so, usual question with large gaps:

[09:15] {dino} fade

[09:15] {cosmo} gap needs a stress test

[09:16] {Threei}  fade, locked into narrow range or continuation

[09:17] {Threei}  more or less readable scenario would be:

[09:18] {Threei}  opening around here,

[09:18] {Threei}  forming narow range,

[09:18] {Threei}  then break of the high and start of slow confident climb

[09:19] {Threei}  if that happens, we are in for a nice gains

[09:19] {Threei}  if opening is hectic with wide ranges, will have to wait it out

[09:19] {pita} watching anything in particular?

[09:19] {Threei}  financials

[09:19] {Threei}  FAS, BAC,

[09:19] {Threei}  WFC'

[09:20] {Threei}  HIG

[09:20] {Threei}  PRU

[09:21] {Threei}  let's be patient on the open, this kind of gap can present very unpleasant surprises for premature entries

[09:22] {vint} good morning all

[09:22] {Threei}  vint :)

[09:24] {Threei}  TREASURY SEC GEITHNER: CAN'T JUDGE AT THIS TIME IF MORE FUNDING WILL BE NEEDED TO STABILIZE THE FINANCIAL SYSTEM

[09:24] {Threei}  - Not asking for more money at the current time

[09:24] {Threei}  - Will continue to work with Congress to insure that enough funds are allocated

[09:24] {Threei}  - Has seen broad support across countries for continued financial reform

[09:24] {Threei}  - Other countries will follow US example and provide direct support for credit markets

[09:26] {Threei}  useless observation:

[09:27] {Threei}  WFC formed premarket C&H with .85 resistance, .60 support

[09:29] {ese} morning...... late to the party

[09:29] {Threei}  ese :)

[09:30] {Threei}  ok... let's see if we get pullback and how deep

[09:30] {nemo} huh, LASER just crapped out

[09:31] {Threei}  fine here

[09:31] {Threei}  BAC topped out just under .40

[09:31] {Threei}  FAS .24

[09:32] {Threei}  first try:

[09:32] {Threei} Long Setup:  FAS  .11 if holding above 6

[09:33] {Threei}  invalidated

[09:34] {nemo} My LASER not working

[09:34] {Threei} Long Setup:  BAC  .21 if holding above .15

[09:34] {magoo} try new quoteserver

[09:36] {Threei}  FAS modification: long .861 if holding above .80

[09:36] {Threei}  US TREASURY SPOKESPERSON: NEW PUBLIC/PRIVATE PARTNERSHIP PROGRAM IMPLEMENTATION WILL BE FASTER THAN THE TALF PROGRAM IMPLEMENTATION

[09:36] {nemo} see you guys in a while.  I have to reboot

[09:36] {magoo} c u

[09:36] {Threei}  BAC becomes interesting here for bounce

[09:37] {Threei}  .06

[09:37] {Threei}  if holsding above 7

[09:37] {Threei}  FAS, half out or scalp

[09:38] {Threei}  BAC half out or scalp

[09:38] {Threei}  if taking half, stop to under b/e

[09:38] {ese} CETV dino?

[09:40] {Threei}  BAC, feel free to take full profit if spikes to around .30 - .35

[09:40] {Threei}  FAS .15 - .20

[09:41] {Threei}  trail stops:

[09:41] {Threei}  BAC to under .10

[09:42] {Threei}  FAS to under 5.90

[09:43] {vinod} GM

[09:43] {Threei}  morning vinod

[09:43] {dino} online ed's not participating

[09:44] {Threei}  OK, both are done for now

[09:44] {Threei}  gotta reevaluate

[09:44] {Threei}  and let them form new setups

[09:44] {nemo} How many trades I miss?

[09:44] {Threei}  2

[09:44] {Threei}  US TREASURY SEC GEITHNER: DANGER AT THE MOMENT IS THAT FINANCIAL SYSTEM WILL NOT TAKE ENOUGH RISK; PLAN WILL REDUCE CHANCES OF DEEPER RECESSION; NO DOUBT THE PLAN TAKES A RISK, BUT CONFIDENT THE PLAN PROVIDES BALANCED INCENTIVES - PRESS BRIEFING

[09:44] {Threei}  - Notes plans will assist in clearing balance sheets for banks and improve lending; Govt could not purchase assets on its own

[09:44] {Threei}  - Aims to reduce additional asset price declines; may see large deleveraging without the plan

[09:44] {Threei}  - Believes govt can move and react 'quite quickly'

[09:44] {Threei}  - Not willing to make decision at current time regarding additional funding needed for Treasury

[09:45] {Threei}  talking heads keep talking and distort the movement

[09:46] {Threei}  BAC looks relatively stronger

[09:50] {Threei}  hard to tell yet whether it's a last pullback before rally rewsumption, or we simply fizzle out here

[09:50] {dino} wmt, mcd not moving

[09:50] {Threei} Long Setup:  BAC  .11

[09:51] {Threei}  if stays above .05

[09:51] {Threei}  invalidated

[09:52] {Threei}  looks like fizzle out takes over

[09:53] {nemo} RIMM is strengthening

[09:53] {dino} hmmmm, gap fill in the making?

[09:54] {Threei}  hard to tell still

[09:56] {dino} not ready to bet it yet

[09:56] {wulff} seems like we are building to a bounce

[09:57] {Threei} Long Setup:  WFC  .45 if stays above .35

[09:57] {magoo} in

[09:59] {Threei}  over 1:1, half out or scalp

[09:59] {dino} shlm

[09:59] {dino} uthr

[09:59] {wulff} scalp ty

[10:00] {Threei}  *FEB EXISTING HOME SALES:4.72 M V 4.45ME

[10:00] {Threei}  wow

[10:00] {Threei}  crisis is over

[10:00] {Threei}  umm

[10:00] {Threei}  I guess

[10:00] {Threei}  WFC babay

[10:01] {magoo} out .76 TY

[10:01] {Threei}  out too

[10:01] {Threei}  .78

[10:01] {vint} good one WFC, thx

[10:01] {Threei}  welcome

[10:02] {magoo} nice vad

[10:02] {Threei}  wastching HIG for pullback entry

[10:02] {Threei}  8.25 zone

[10:03] {Threei}  don't be in a rush to jump in, this market still has to prove itself

[10:04] {Threei}  untill we get that steady confident buying, we are operating on the assumption that rally will be faded

[10:04] {magoo} STT maniac today

[10:04] {Threei}  today?

[10:04] {Threei}  it's maniak, period

[10:04] {magoo} yea..agree

[10:04] {Threei}  HIG is getting there

[10:05] {Threei}  still weakness in the market

[10:05] {Threei}  let's structure it this way:

[10:05] {Threei}  .31 long if holding .25

[10:05] {Threei}  6 cents stop

[10:06] {Threei}  reasonable enough

[10:06] {magoo} well..missed blew thruy

[10:07] {Threei} Long Setup:  FAS  6.12 if holding above 6.05

[10:07] {Threei}  or above 6 for a day trade

[10:08] {pita} HIG still good?

[10:09] {Threei}  same setup from here

[10:10] {Threei}  okay market

[10:10] {Threei}  time to decide

[10:11] {Threei}  as Tom Waits would say... we all want to know how its going to end

[10:12] {Threei}  HIG here we go... offer half or take profit here who got it

[10:12] {pita} out ty

[10:12] {fernp} out ty

[10:13] {Threei}  wecome guys... 4 for 4 so far

[10:13] {vint} out thx

[10:14] {pita} missed BAC, only 3 for 3 :(

[10:15] {Threei}  can I be coarse and say "cry me a river"? :)

[10:15] {pita} cry cry cry

[10:15] {pita} thanks Vad

[10:15] {Threei}  :)

[10:16] {Threei}  consolidation...

[10:16] {Threei}  feels like we are on a verge of march up beginning

[10:16] {magoo} out HIG .49 TY

[10:16] {Threei}  welcome mags

[10:16] {magoo} i missed 1 also..he he

[10:16] {magoo} like 100% tho

[10:16] {Threei}  why did I miss GE beautiful setup at .11

[10:16] {magoo} u need a 4th eye

[10:17] {Threei}  no kidding

[10:17] {Threei}  or I need to wake up those I have'

[10:17] {dino} wow, +260

[10:17] {magoo} or dish out assignments here..like give dawg a stock to watch

[10:17] {Threei}  and no sign of slowing down

[10:17] {dino} 7566, 1225, 803 wed. highs

[10:18] {dino} out rick swing .35, +.40

[10:18] {nemo} out hig 2:1 ty

[10:18] {Threei}  nemo :)

[10:18] {nemo} kick fas vad

[10:18] {Threei}  FED'S ROSENGREN: FED HAS BEEN 'PROACTIVE'; RATE CUTS HAVE 'CUSHIONED' ECONOMIC SHOCKS

[10:18] {magoo} out there waiting on fas .21

[10:21] {Threei}  very stingy play:

[10:21] {magoo} kickin it

[10:22] {Threei} Long Setup:  GE  .21 if stays above .15

[10:22] {Threei}  in

[10:23] {fernp} in

[10:23] {Threei}  semiagressive entry

[10:23] {vint} in

[10:23] {Threei}  kind of counting on breakout at .26 to make it work

[10:23] {magoo} innnnnnnnn

[10:23] {Threei}  with 6-7 cents stop, just a sin not to give it a chance

[10:24] {Threei}  if this one fails, gotta back away

[10:26] {Threei}  can you feel how market is trying to make up its mind here?

[10:29] {wulff} gappers  want to close it

[10:29] {Threei}  I hope it does while we are yuong

[10:30] {ese} patience if your there.....what are symbols for the currency ETF's that your trading

[10:31] {dino} es, i use udn, uup 2x's

[10:32] {Threei}  PALM

[10:32] {Threei}  DIGITIMES REPORTS TAIWAN HANDSET MAKER DELAYING SHIPMENTS OF SMARTPHONES TO PALM FROM MID-YEAR TO THE END OF THE YEAR

[10:32] {Threei}  - also reports Taiwan's Compal Communications says smartphone orders from Motorola cut substantially{MOT}

[10:32] {ese} tks

[10:33] {Threei}  hmmm

[10:33] {Threei}  not sure why PALM moves up on that, lol

[10:34] {wulff} this GE base tradeable?

[10:34] {Threei}  ?

[10:35] {wulff} seems more likely to fall now

[10:35] {Threei}  not sure what you mean

[10:35] {Threei}  well,

[10:35] {Threei}  if uncomfortable with it, just scratch it

[10:35] {Threei}  it's practically flat

[10:36] {wulff} scratch what?

[10:36] {Threei}  with stop .14 I am willing to let it trade

[10:36] {Threei}  existing position

[10:36] {magoo} out fas TY

[10:36] {magoo} took .19

[10:36] {Threei}  [10:22] {Threei} Long Setup: GE .21 if stays above .15

[10:36] {magoo} fl

[10:36] {Threei}  welcome mags

[10:37] {Threei}  you missed that call wulff?

[10:37] {wulff} no was just skittish with a that base forming

[10:42] {Threei}  with all the impressive gainst, most of them are in the gap

[10:42] {Threei}  so actual after-opening move is modest

[10:43] {Threei}  which explains why we are getting scalping profits mostly

[10:44] {ese} L JNPR 3/4 .87

[10:46] {magoo} .

[10:47] {Threei}  beconsiderate of your sleeping comrades magoo

[10:48] {magoo} got some weird message

[10:48] {Threei}  hmmm

[10:48] {magoo} thought i was discombobulated

[10:49] {Threei}  stop browsing those porn sites

[10:49] {magoo} but when i do mkts go up..i find it offensive, but anything for the trading group

[10:49] {Threei}  ah

[10:50] {dino} sm s dia .35

[10:51] {Threei}  market is jittery here

[10:52] {Threei}  not sure why, no news that I see

[10:52] {wulff} its me I'm sure

[10:52] {Threei}  wow... what power

[10:53] {nemo} RIMM VAD

[10:53] {Threei}  forms break

[10:53] {ese} &^$#^ JNPR

[10:53] {Threei}  whether it's playable or not, will totally depend on the market

[10:54] {Threei}  if you like it for a break, stop would be under .85

[10:55] {ese} stopped out JNPR .69 -.18

[10:56] {dino} fwiw dia short, bstop is hod

[10:57] {Threei}  prez remarks on clean energy at 12:30

[10:58] {dino} -.30 dia stopped

[10:58] {Threei}  GE held by fingertips

[11:03] {Threei}  IMO, the loner market lingers here, the better chance we have for rally

[11:03] {Threei}  loner = longer

[11:08] {Threei}  WHITE HOUSE'S SUMMERS: GRATIFIED ABOUT THE MARKET REACTION TO THE GEITHNER PLAN

[11:08] {nemo} What, the Wile E. Coyote reaction?

[11:08] {Threei}  JAVA

[11:08] {Threei}  HEARING CHATTER THAT IBM MAY DROP PLAN TO PURCHASE THE COMPANY

[11:08] {Threei}  {IBM}

[11:08] {Threei}  lol

[11:09] {Threei}  does it go all the weay back to 5 then?

[11:10] {Threei}  GE stopped

[11:11] {nemo} yeah, I scalped it

[11:11] {fernp} stopped too

[11:12] {dino} out cop call +53%

[11:13] {nemo} Vad, shouldn't you admonish Dino for indecent profits?

06[11:13] * magoo slaps dino around a bit with a large trout

[11:15] {Threei}  I don't understand % nemo

[11:15] {Threei}  so he is off the hook for now

[11:15] {dino} :)

[11:16] {wulff} like to see FAS +.20

[11:17] {dino} mind mixed up, i'm a seller high buyer low

[11:18] {nemo} huh?

[11:18] {dino} i can't buy these levels

[11:18] {nemo} because of the gap up?

[11:18] {Threei}  market still looks like preparing another leg of rally, I just have troubles undetifying followers

[11:18] {Threei}  financials cooled off

[11:19] {Threei}  techs don't look very hot either

[11:20] {dino} nemo, just my style, my mind says i'm a seller higher

[11:21] {nemo} yeah, kicked myself in the ass when you made that comment about cnqr going down to x.xx on Friday.  Thought after what a moron I was for not shorting it

[11:21] {Threei}  US PENTAGON: AIMING TO FOCUS ON SENSORS AND CONTROL EQUIPMENT, NOT NECESARILY MISSILES

[11:23] {Threei}  looked at CLNE as possible candidate on upcoming prez speech

[11:23] {Threei}  daily looks nice but it trades by appointment

[11:24] {dino} why clne?

[11:24] {dino} nat. gas play

[11:26] {Threei}  nat gas, wind, something else

[11:29] {dino} sm s spy .75, stop hod

[11:30] {dino} i might be wrong 3i, but clne is play on converting cars to nat gas

[11:30] {nemo} yes, I believe you're right dino

[11:31] {Threei}  yes... so how is it not a clean eergy?

[11:31] {nemo} I was just affirming Dino's supposition, not denying your assertion

[11:32] {dino} qid sm l .85

[11:33] {vinod} wow!!! look like we going to reach 14000 on dow tomorrow?

[11:33] {wulff} no, wednesday

[11:34] {dino} lol

[11:35] {dino} obamination has saved the world by opening up he printing presses

[11:35] {dino} somehow i think this ends badly

[11:35] {nemo} Just get your wheelbarrow to fill with money to go buy a loaf of bread

[11:37] {magoo} vad lived thru that in days of tzar ..right vad

[11:38] {Threei}  lol

[11:38] {nemo} ohoh

[11:38] {Threei}  actually, in days of perestroika

[11:38] {Threei}  there was period of hyperinflation

[11:39] {Threei}  go to sleep with exchange rate 5,000:1, wake up to 9,000:1

[11:39] {dino} and you weren't short

[11:39] {Threei}  to give you an idea:

[11:39] {Threei}  within 1 year I made three purchases,

[11:39] {Threei}  car for 6,000 roubles,

[11:40] {Threei}  6 monhs later nice cottage with garden beyond city limits for 12,000,

[11:40] {Threei}  and 6 months later, VCR for 25,000

[11:40] {Threei}  that's your inflation :)

[11:41] {wulff} that's let's move

[11:41] {dptl} lol...that was nice vcr Vad...

[11:42] {vinod} but it doesn't play po___

[11:44] {Threei}  with two kids in the house, I wouldn't know... never tried :)

[11:45] {nemo} pong vinod?

[11:45] {Threei}  anyone went for RIMM?

[11:46] {magoo} forgot about it

[11:46] {Threei}  that's OK, let it be

[11:46] {Threei}  not sure it has much, unless market totally explodes

[11:46] {magoo} aapl never even pulled back

[11:47] {Threei}  netiehr did AMZN

[11:50] {dino} pressure building

[11:51] {Threei}  and feels up

[11:51] {dino} hard bstops in

[11:53] {dino} stopped spy and qid

[11:56] {dino} ceco l .03

[11:56] {Threei}  REPORTEDLY EXPLOSION SEEN AT PAKISTANI POLICE STATION IN THE CAPITAL, ISLAMABAD

[11:57] {dino} cedc l .00

[11:59] {Threei}  lol... believe it or not but FAS reached 1:1

[12:00] {Threei}  took just couple hours

[12:03] {dino} ceco stop to .13

[12:03] {dino} cedc is .86

[12:05] {cosmo} CLNE {=} PBW?

[12:07] {dino} ceco to .17

[12:07] {Threei}  US PRESIDENT OBAMA: CONFIDENT TOXIC ASSET PLAN WILL WORK

[12:07] {Threei}  - seeing some signs of hope in housing market

[12:07] {Threei}  - economy still has long way to go but seeing some activiy in student and auto loan markets

[12:10] {dino} out ceco .19, +.16

[12:17] {cosmo} brcm

[12:34] {Threei}  yawn

[12:35] {pita} ty for posting - thought I'd lost connection..........

06[12:36] * KSystems sneeks up behind Three

[12:36] {KSystems} BOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

[12:36] {Threei}  lol

[12:47] {nemo} ok wulffy, do something about the market

[12:48] {wulff} does seem that my powers a waining

[12:48] {Threei}  let's send magoo to a bathroom

[12:48] {Threei}  prez on TV soon

[12:48] {magoo} ok..gotta pee anyway

[12:48] {nemo} he probably took the laptop in to surf the net anyway...if you know what I mean

[12:53] {Threei}  US CONGRESSIONAL AIDES: HOUSE PANEL FORMULATING LEGISLATION TO UNWIND FAILING NON BANK FIRMS; COULD CONSIDER AN 'UNWINDING AUTHORITY' AT MARCH 31 BILL DRAFTING MEETING

[12:53] {Threei}  {AIG MET PRU XLF}

[12:53] {Threei}  unwinding authority eh

[12:54] {Threei}  FAS goes for day high

[12:55] {dino}   another govt "task force" in the making

[12:55] {Chaeron} we'll have 0% unemployment soon... everyone working for the govt... Hi all 

[12:56] {Threei}  we have too few of those

[12:56] {Threei}  chaeron :)

[12:56] {dino} lol

[12:57] {dino} qid l sm .48

[13:01] {Threei}  prez on TV

[13:03] {Threei}  US TREASURY'S GEITHNER: BANKS WILL BEGIN RAISING NEW EQUITY SHORTLY, UNCLEAR WHAT TIME FRAME

[13:03] {Threei}  - says must ensure that compensation issues do not deter investors; reiterates the Administration will work with Congress on the issue; says compensation reform must be part of regulation reform measures.{XLF AIG}

[13:05] {cosmo} i'd go for the Geologic time standard; it gets more done

[13:05] {dino} darn, can't borrow isrg at cyber

[13:06] {Threei}  no clean energy stock even breathed

[13:06] {ese} outta here for the day.......spring break is over and it's back to work...take care

[13:06] {dino} cya es

[13:06] {Threei}  take care ese

[13:06] {ese} see ya dino

[13:07] {dino} "banks raise equity", selling more shares

[13:08] {Threei}  dino.. look at CNQR

[13:08] {dino} problem is fridays' drop in it

[13:09] {dino} could keep going to 22 area

[13:10] {Threei}  BAC breaks out

[13:14] {Threei}  FAS is finally +.20 from entry

[13:14] {Threei}  who was looking for +.20?

[13:14] {Threei}  wulff?

[13:14] {wulff} yes

[13:14] {Threei}  there you go

[13:14] {wulff} I am wayyy long so fine

[13:15] {wulff} was going to get more, 

[13:15] {wulff} but could not evaluate an entry

[13:15] {Threei}  sure was tough

[13:15] {Threei}  was locked in tight range for so long

[13:19] {Threei}  day traders are weird creatures... imagine, normal invesotr looks at the end of day number, says "wow, +300, you had an exciting day"

[13:20] {Threei}  you says, well, more like an hour

[13:20] {Threei}  slept through the rest

[13:22] {dino} hmsy

[13:25] {Threei}  (RU) RUSSIAN PM PUTIN: UKRAINIAN GAS DECLARATION WAS 'UNPROFESSIONAL'; WILL REVIEW EU TIES IF INTERESTS IN ENERGY ARE IGNORED

[13:25] {Threei}  - Note: EU and Ukraine signed a joint declaration earlier today that they will modernize Ukraine's natural gas pipeline system, and should aim to double its gas storage, but suggested Russia should be included in the upgrades of the pipeline system. The Ukrainian President noted that it was open to gas discussions with Russia.{UNG}

[13:28] {dino} air pocket

[13:28] {Threei}  is this sent market down so sharply??

[13:28] {Threei}  is = has

[13:29] {dino} no

[13:29] {dino} didn't send oil/gas up

[13:29] {Threei}  yeah, UNG downticked too

[13:30] {Threei}  I'd expect it to explode if this headline had any material importance

[13:31] {dino} right, imo

[13:34] {Threei}  wow

[13:34] {Threei}  this is not something you see every day:

[13:34] {Threei}  BOA/MERRILL ANALYST SUGGESTS SELLING FINANCIAL STOCKS INTO STRENGTH (TIMING UNCERTAIN)

[13:34] {Threei}  *This story was originally posted to clients entitled to Global Equities

[13:35] {wulff} Boa recc. selling Boa?

[13:35] {Threei}  forgive me for being cynic, but it rather sounds to me like "crap, looks like the bootom is in and we haven't loaded the truck full enough"

[13:37] {dino} out qid .98, +.50

[13:37] {Threei}  wtg

[13:38] {dino} way soon, was laying out

[13:38] {Threei}  BCS

[13:38] {Threei}  ISHARES UNIT MAY HAVE REPORTEDLY GAINED A $6B BID FROM GOLDMAN SACHS - UNCONFIRMED REPORT

[13:39] {Threei}  GE

[13:39] {Threei}  MOODY'S LOWERS GE AND GE CC RATINGS TO AA; OUTLOOK STABLE

[13:44] {pita} day job - gl all

[13:44] {Threei}  take care pita

[13:46] {dino} cya pita

[13:49] {Threei}  GE

[13:49] {Threei}  CEO IMMELT: MOODY'S ACTION NOT UNEXPECTED; SEES NO OPERATIONAL EFFECTS OR SIGNIFICANT FUNDING EFFECTS FROM DOWNGRADE

[13:51] {dino} lphi partial fill l .37

[13:56] {dino} hmsy lod

[14:00] {dino} hmmmm didn't expect that fill, sm l hmsy

[14:01] {dino} .05

[14:05] {wulff} I am leaving, so my ability to hold the market in place is gone.

[14:05] {Threei}  awwww

[14:05] {Threei}  can we offer you any incentive to stay?

[14:05] {wulff} Hopefully I was holding it down

[14:05] {Threei}  on the other hand... why not get a pyullback and enter tonorrow

[14:06] {Threei}  only with better typing, lol

[14:06] {wulff} sounds good. LAter

[14:06] {Threei}  see you tomorrow wulff :)

[14:07] {dino}   cya wuff

[14:16] {Threei}  it's actually a frequent occurence for a market to become narrow and lifeless after a big gap, but sheesh

[14:16] {Threei}  we are lucky we got those early plays

[14:17] {Threei}  5 out of 6, I can live with that

[14:31] {magoo} nice work boss

[14:31] {Threei}  huh?

[14:32] {Threei}  whatcha talking about?

[14:32] {magoo} [14:17] {&Threei}  5 out of 6, I can live with that

[14:32] {Threei}  gosh... I long forgot

[14:32] {magoo} lol

[14:32] {Threei}  my memory span is 2 min

[14:32] {Threei}  and notice, it's 6 times longer than fish

[14:33] {Threei}  WFC... .20 zone is probably bounce-worthy

[14:35] {magoo} aint gonna pullbk

[14:37] {Threei}  US CREDIT UNION REGULATOR FRYZEL: IN TALKS WITH LAWMAKERS ABOUT CREATING CORPORATE STABILIZATION MECHANISM

[14:38] {Threei}  another commission I assume

[14:38] {Threei}  BAC... C&H on intraday

[14:39] {Threei}  with 7.40 break level

[14:39] {dino}    2 were taken over friday, credit unions

[14:39] {dino} failed i mean

[14:39] {Threei}  (FR) FRENCH PM FILLON: DO NOT WANT TO CREATE A BUBBLE IN PUBLIC DEBT

[14:39] {Threei}  ummm... maybe a bit too late for that?

[14:42] {dino} hmsy stop to b/e dead

[14:44] {dino} stopped waiting buck lower

[14:52] {Threei}  FAS pullback to .40 for entry

[14:52] {Threei}  looks like last hour can brign us frenzy buying

[14:53] {Threei}  WFC perfect pullback to .20 btw

[14:53] {Threei}  anyone got it?

[14:56] {dino} hmsy l .03

[15:06] {magoo} i took ms off your call on wfc

[15:07] {Threei}  must have worked, since i haven't seen you cursing

[15:08] {magoo} i let it pullbk {AKA bac}..then scalped out

[15:08] {magoo} just to tired to type it'

[15:09] {Threei}  http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE52M4SS20090323

[15:09] {Threei}  not that I was delighted by Krugman's plan... but his critisism of the current one makes sense

[15:15] {magoo} RIMM vad

[15:16] {Threei}  .50 break?

[15:16] {Threei}  with stop under .35?

[15:16] {magoo} yea

[15:17] {magoo} yup

[15:17] {Threei}  US SENATOR COLLINS(R) PROPOSES LEGISLATION FOR A SYSTEMIC RISK MONITOR

[15:17] {Threei}  {XLF}

[15:17] {vint} in

[15:17] {magoo} thinkin .70 area

[15:25] {Threei}  BARTON BIGGS: US STOCKS 'ATTRACTIVE', BULLISH O0N EMERGING MARKETS (TIMING UNCERTAIN)

[15:25] {Threei}  - likes largecap tech companies{EEM SMH}

[15:26] {cosmo} institutional blocks will ring the bell

[15:26] {cosmo} imho

[15:28] {dptl} have a good evening all

[15:28] {Threei}  take care dp

[15:29] {Threei}  GS

[15:29] {Threei}  MAY REPORTEDLY SELL STAKE IN CHINA BANK ICBC IN EFFORTS TO PAY BACK TARP CAPITAL - WSJ

[15:30] {Threei}  +411

[15:30] {Threei}  half out RIMM here?

[15:31] {magoo} im waiting .76

[15:31] {Threei}  took its sweet time

[15:31] {magoo} yea..rude

[15:31] {Threei}  FAZ new 52 low

[15:31] {cosmo} didn't china bank just buy yusemite?

[15:31] {magoo} kickin it

[15:32] {Threei}  what price will they meet at?

[15:32] {Threei}  FAZ and FAS

[15:32] {magoo} half out vad

[15:32] {magoo} stop .49

[15:33] {Threei}  :)

06[15:34] * magoo slaps laserdave around a bit with a large trout

[15:34] {vint} my guess is @10, fas/faz 

[15:35] {Threei}  feels about right

[15:36] {magoo} skf down 27 points......yikes

[15:37] {magoo} just once in my life i wanna have 200,000 shares of something that rips 27  points IN MY FAVOR

[15:37] {Threei}  UPDATE: FEDS LOCKHART: TREASURIES COULD BE EASIER TO UNWIND FROM BALANCE SHEET WHEN EXIT IS RIGHT; DECISION TO PURCHASE TREASURIES WAS DUE TO WORSENING OUTLOOK

[15:39] {Threei}  RIMM 1:2

[15:40] {Threei}  CNQR

[15:40] {Threei}  SAYS PRESIDENT RAJEEV SINGH ALSO MADE AN INCORRECT DEGREE CLAIM

[15:40] {Threei}  - President Rajeev Singh recieved a degree from Western Michigan

[15:40] {Threei}  lol

[15:40] {Threei}  market ends on giddy note

[15:41] {Threei}  FAS is asking itself: can I hiot 7 today?

[15:41] {cosmo} there's a difference between buying panic and euphoria....i would think

[15:44] {Threei}  they way today developed and ends, barring overnight news we should get gap up

[15:45] {magoo} yeah..but gap up is gonna be scary

[15:45] {magoo} themn tank?

[15:45] {cosmo} ...last 5 min is key

[15:45] {magoo} rimm got .89 btw

[15:45] {Threei}  nice

[15:45] {magoo} not me..but made it

[15:46] {vint} RIMM was nice one

[15:50] {Threei}  FAS answers confidently to that self-imposed question

[15:51] {Threei}  big gap, consolidation, break and crawl up all day

[15:51] {Threei}  every time market does this it amazes me

[15:52] {Threei}  so brilliantly counter-intuitive

[15:52] {cosmo} it'll learn

[15:53] {Threei}  7 FAS1 cent shy of

[15:53] {Threei}  ummm

[15:53] {Threei}  lol

[15:53] {Threei}  FAS 1 cent shy of 7

[15:55] {Threei}  very confident ending

[15:55] {Threei}  this is far from over

[15:55] {cosmo} the day is young

[15:55] {Chaeron} so 6600 was the bottom?

[15:55] {Threei}  so far

[15:55] {Threei}  who can tell these days a bottom from the bottom

[15:56] {magoo} my best day of year..up 96K

[15:56] {magoo} minus 93K

[15:56] {Threei}  now, what do you think about this

[15:56] {Threei}  [13:34] {Threei} BOA/MERRILL ANALYST SUGGESTS SELLING FINANCIAL STOCKS INTO STRENGTH (TIMING UNCERTAIN)

[15:56] {Threei}  [13:35] {Threei} forgive me for being cynic, but it rather sounds to me like "crap, looks like the bootom is in and we haven't loaded the truck full enough"

[15:57] {Threei}  you are up 96K today magoo?

[15:58] {magoo} yeah...minus 93k

[15:59] {magoo} he he

[15:59] {Threei}  that's complicatd

[15:59] {Threei}  my math abilities are not that advanced

[15:59] {Threei}  +500

[15:59] {magoo} mine either..dino helps me figure it out

[15:59] {Threei}  DJI

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all

[16:00] {Threei}  have a good evening, see you tomorrow

[16:00] {magoo} tomorrow gonna be harder

[16:00] {magoo} TY bass

[16:00] {vint} see u all

Mar 20 2009

Not surprisingly for the Friday after such an eventful week, this was not very active day. A few early scalps on FAS and BAC and nice $1+ win on FAZ allowed us to stay mostly inactive in the afternoon. Next week should be interesting.

Session Time: Fri Mar 20 00:00:00 2009

[08:23] {Threei}  Good morning

[08:24] {nemo} Haroo

[08:24] {Threei}  (EU) FRENCH PRESIDENT SARKOZY: EU HAS AGREED TO DOUBLE THE EMERGENCY FUND FOR CENTRAL AND EASTERN EUROPEAN NATIONS TO 50B

[08:24] {Threei}  - Clarifies that the EU's contribution to the IMF will be 75B.

[08:24] {Threei}  - Notes the EU backs the De Larosiere Report on reforming financial regulation.

[08:24] {nemo} Well, at least more countries are debasing there currencies...We'll all meet at the bottom

[08:25] {Threei}  - Reminder: On 3/18, Former IMF managing director and ex-Bank of France Governor De Larosiere told the FT that he wants the EU to create bodies to coordinate oversight and form a "European Systemic Risk Council" that would be chaired by the ECB

[08:25] {Threei}  I don't know if that's that straightforward

[08:26] {Threei}  gold/oil bugs oversimplify situation I think

[08:26] {Threei}  their line of thinking:

[08:26] {nemo} what, debasing currencies?

[08:26] {Threei}  USD prints money,

[08:26] {Threei}  otger countries do too,

[08:26] {Threei}  so paper currencies devaluate against gold/oil

[08:27] {Threei}  but this l.ogic takes us back to $200 oil

[08:27] {Threei}  or $500

[08:27] {Threei}  or whatever

[08:28] {Threei}  so he next question is

[08:28] {Threei}  can economy function with that kind of prices?

[08:28] {Threei}  certainly didn't look like that just last summer

[08:28] {Threei}  aand if not, oil will be knocked back down again

[08:29] {Threei}  so question remains... devaluation against what?

[08:29] {Threei}  plus, there is deflation camp that argues we can't have deflation until money supply exceeds debt

[08:30] {Threei}  sorry, can't end deflation

[08:30] {Threei}  and switch to inflation

[08:30] {Threei}  and so far all those trillion here trillion there haven't even started making dent in debt

[08:31] {nemo} isn't that trillion debt?

[08:32] {Threei}  UASUA

[08:32] {Threei}  GUIDES Q1 RPM -13.5-14.5%, ASM -11.7% Y/Y - FILING

[08:32] {Threei}  UAUA

[08:35] {Threei}  http://globaleconomicanalysis.blogspot.com/2009/02/fiat-world-mathematical-model.html

[08:35] {Threei}  here is the theory

[08:35] {Threei}  better than my bastardized version

[08:35] {Threei}  (IA) IRANIAN SUPREME LEADER ALI KHAMENEI: WORLD POWERS KNOW THEY CANNOT BLOCK IRAN'S NUCLEAR PROGRESS, MAKES NO MENTION OF PRESIDENT OBAMA'S MESSAGE

[08:35] {Threei}  - Ali Khamenei's remarks come in response to President Obama's offer that the US is ready to address a full range of issues with Iran and pursue constructive ties.

[08:37] {cosmo} Barky can handel it....

[08:38] {nemo} why fas go vertical

[08:38] {Threei}  don't see anything

[08:38] {Threei}  unless that Iranian headline is something to prop the market

[08:39] {Threei}  or

[08:39] {Threei}  (EU) EU'S BARROSO: 'CONCRETE LINES' HAVE BEEN AGREED FOR UPCOMING G-20 SUMMIT

[08:39] {nemo} Mmmmhhhh....that's right G20 this weekend...why get together now unless something will come out of it

[08:41] {cosmo} to hear obama?

[08:41] {cosmo} speak?

[08:41] {nemo} oy

[08:42] {Threei}  (GE) GERMAN FIN MIN STEINBRUECK: HAVE TO BE CAREFUL THAT SOME EU NATIONS DON'T FALL INTO FINANCIAL DIFFICULTY

[08:42] {Threei}  god forbid someone experience financial difficulty

[08:43] {cosmo} its all so ....relative

[08:44] {Threei}  BOA CHIEF ECONOMIST LEVY: SEE A LIGHT AT THE END OF THE TUNNEL FOR HOUSING;

[08:44] {Threei}  HOUSING DEMAND SHOULD STABILIZE IN 2H 2009 - RADIO INTERVIEW

[08:45] {cosmo} uh oh ... that train again

[08:47] {pita} gm all

[08:47] {Threei}  pita :)

[08:54] {pita} trying again to reach KS thru web browser.  KS, you there?

[08:54] {Threei}  not at the moment I think

[08:54] {pita} ty

[08:56] {pita} Vad, also trying to access Inteliscan.  Does it populate pre-mkt?  Have green bars but no data stream.

[08:56] {Threei}  there is a pre-post market scan

[08:56] {Threei}  hold on, I'll find the configuration

[08:59] {i2romantis} morning all :)

[08:59] {Threei}  i2r :)

[09:00] {vinod} good morning

[09:00] {Threei}  vinod :)

[09:00] {i2romantis} Vad, vinod :)

[09:00] {magoo} morning

[09:00] {Threei}  pita, right click on the window,

[09:00] {Threei}  magoo :)

[09:00] {i2romantis} mag :) 

[09:00] {Threei}  Configure,

[09:00] {Threei}  Standard strategies,

[09:00] {Threei}  scroll down to find:

[09:00] {vinod} will take a week to finish book and video and cd

[09:01] {Threei}  Up big in Pre Market

[09:01] {Threei}  Down Big in Pre Market

[09:01] {Threei}  I had a configuration uniting them in one window but can't find it on the fly

[09:01] {Threei}  maybe mags has it

[09:01] {magoo} has what?

[09:02] {Threei}  pre and post market

[09:02] {magoo} on scanner?

[09:02] {Threei}  yes

[09:02] {Threei}  in one window

[09:02] {dino} gm all

[09:02] {Threei}  dino :)

[09:05] {ese} morning

[09:05] {Threei}  ese :)

[09:06] {ese} morning vad

[09:06] {Threei}  mags... suspence is killing us

[09:06] {Threei}  do you have that or not?

[09:07] {magoo} i have 2 seperate windows

[09:07] {Threei}  ok

[09:07] {magoo} 1 pre 1 up

[09:07] {magoo} 1 pre down

[09:07] {magoo} sorry..majking my rounds

[09:10] {Threei}  funny

[09:10] {Threei}  now it's 4 windows actually

[09:10] {Threei}  down and up separately for pre and post market

[09:11] {Threei}  I used to have it all in a single window

[09:11] {pita} thanks Vad, working on configuration

[09:11] {Threei}  will dig it out

[09:11] {Threei}  :)

[09:14] {vint} good morning all

[09:15] {Threei}  vint :)

[09:15] {magoo} yea..i have 4 windows

[09:16] {Threei}  after quite an eventufl week, we have three possibilities for today

[09:16] {Threei}  1. rally resumption after yesterday's pullback

[09:17] {Threei}  2. selloff resumption after bounce, continuation of yesterday's selling

[09:17] {Threei}  3. meek day with traders not wanting to commit to anything

[09:17] {Threei}  I've no slightest idea which one has better odds

[09:19] {Threei}  going to take it slowly, on play by play basis

[09:20] {Threei}  and stay with idea of better miss something than opush for the play that isn't there

[09:20] {Threei}  we handled this week beautifully, not going to spoil it before the weekend

[09:21] {vint}   Bernanke to speat at noon, not sure whether it will have any impact

[09:25] {cosmo} ERIC pre mkt high = 8.57   fwiw

[09:32] {Threei}  watching RIMM for bounce if sells down to 42.40 - .50 area

[09:33] {Threei}  FAS is trying to form bottom

[09:33] {Threei}  if holding above .50, .60 break is long

[09:34] {magoo} BAC clubbed vad

[09:34] {magoo} read?

[09:34] {Threei}  same as FAS

[09:34] {Threei}  .60 break entry is .50 holding

[09:35] {Threei}  FAS invalidated

[09:35] {dino} mant wide spread

[09:36] {Threei}  one more leg down and should be bounce-ready

[09:36] {Threei}  or .50 break with stop under .40

[09:36] {magoo} which?

[09:36] {Threei}  FAS

[09:37] {Threei} Long Setup:  RIMM  .80 break half lot

[09:37] {Threei}  grr

[09:37] {Threei}  late

[09:37] {Threei}  ok pulled back for entry

[09:37] {Threei}  stop under .60

[09:37] {magoo} .83 in

[09:37] {vinod} in bac 6.60

[09:38] {Threei}  a bit too high for BAC

[09:39] {vinod} 0ut 6.68

[09:39] {Threei}  after it lost support, setuip has changed

[09:39] {Threei}  same way as we changed FAS setup

[09:40] {vinod} thanks

[09:40] {dino} scanners going red

[09:40] {fernp} Hello everybody

[09:40] {Threei}  fern :)

[09:41] {Threei}  FAS invalidated again

[09:41] {Threei}  look at BAC now vinod

[09:42] {Threei}  aren't you glad you abandoned that ship

[09:42] {vinod} yes, learning and cinfuse also

[09:43] {dino} mant most likely wants gap fill

[09:43] {Threei}  FAS, double bottom attempt

[09:43] {Threei}  .50 break long

[09:43] {Threei}  stop under .30

[09:44] {Threei}  sorry, .40 break on FAS

[09:44] {magoo} in

[09:45] {vinod} in fas

[09:45] {nemo} me too

[09:46] {dino} v sm wide isrg l .00

[09:46] {Threei} Long Setup:  ADBE  .17

[09:46] {Threei}  if stays above .10

[09:47] {Threei}  FAS 1:1

[09:48] {vinod} out fas 5.57

[09:48] {nemo} stop to what on FAS?

[09:48] {magoo} out .58 fas TY

[09:49] {Threei}  FAS 1:2

[09:49] {Threei}  just exit

[09:49] {Threei}  ADBE over 1:1

[09:49] {Threei}  1:2 actually

[09:49] {Threei}  after 1:1, stop routinely trailed to under b/e

[09:51] {Threei} Long Setup:  GE  .60 break

[09:51] {Threei}  stop under .55

[09:54] {Threei}  half out .72

[09:54] {Threei}  stop to .59

[09:54] {Threei}  beauty of aggressive entries...

[09:54] {magoo} out .75 TY

[09:55] {Threei}  if you played this double bottom regular way, you would be buying .70 break

[09:55] {Threei}  double bottom confirmation

[09:55] {Threei}  aggressive entry gave much tighter stop and so much more room foer profit

[09:55] {magoo} nice boss

[09:56] {nemo} FAS Vad

[09:58] {Threei}  stop to .69 GE

[09:58] {Threei}  1:2

[09:58] {Threei}  1/4 more out

[09:58] {magoo} strong in that pullbk GE vad

[09:59] {Threei}  yeah

[09:59] {Threei}  OK FAS

[09:59] {Threei}  .40 break long again

[09:59] {Threei}  if holdiong .30

[10:00] {Threei}  if losing it, can drop into 5 easily unless recrosses back immediately

[10:00] {magoo} RIMM animal

[10:00] {Threei}  so don't be in a hurry to catch it if it loses .30

[10:02] {Threei}  SEC COMMISSIONER WALTER: LOOKING INTO INSIDER TRADING AT SUBPRIME LENDERS

[10:06] {Threei}  okay FAS... if you insist that we get better entries, we won't mind

[10:06] {Threei}  I hear like 10 times over last days:

[10:06] {nemo} prez speaking?

[10:07] {Threei}  yeah, decision to claw back bounces is questionable from legal and constitutional point of view, but considering public outrage we are willing to do it

[10:07] {magoo} mkts red

[10:07] {Threei}  having soviet background, you have no idea how scary this sounds

[10:07] {Threei}  enemy of the people label comes to mind

[10:08] {Threei}  no law is applied

[10:08] {magoo} mccarthy hearings

[10:08] {Threei}  once authorities put that label on you, you are fair game

[10:08] {Threei}  for anything andf anyone

[10:08] {magoo} us communist witch hunt

[10:08] {magoo} now financial witch hunt

[10:09] {Threei}  GE trade's for nowover

[10:15] {vint} vad-do you use 1 mt or 5 mt charts?

[10:15] {Threei}  1 min and daily

[10:15] {vint} thanks

[10:15] {Threei}  for scalping, 5 min is too long

[10:16] {Threei}  trade may be over before candle is formed, lol

[10:16] {vinod} fas stii good at 0.40?

[10:16] {nemo} AUY Vad?

[10:16] {Threei}  no on FAS

[10:16] {vint} got it, i was using 5 mt

[10:16] {Threei}  for that trade to become valid again, it needs to consolidate between .30 and .40 for a few minutes

[10:17] {Threei}  the longer the better

[10:17] {vinod} o.k

[10:17] {Threei}  AUY looks standard on intraday... .35 trigger, stop under .25

[10:17] {Threei}  what bothers me is

[10:17] {nemo} the runup

[10:18] {Threei}  I rarely see this stock following through on this kind of setups

[10:18] {Threei}  this goes for most of gold/silver stocks btw

[10:18] {nemo} tck has same chart

[10:19] {dino} feels like yesterday

[10:19] {Threei}  hmmm

[10:20] {Threei}  action all but stopped

[10:20] {magoo} laser system is having issues vad

[10:20] {magoo} u up?

[10:20] {magoo} server?

[10:20] {nemo} you're in Puxatawney Phil's area, right Diino?

[10:21] {dino} ne about 200 miles

[10:21] {Threei}  no mags, quotes got frozen

[10:21] {dino} delaware river

[10:21] {dptl} good morning

[10:21] {Threei}  but scanner slowed down to a crawl too

[10:21] {Threei}  dp :)

[10:22] {dino} you need quotes anyone?

[10:22] {magoo} try 16 vad

[10:22] {magoo} semi works

[10:22] {Threei}  yeah, Level 2 OK, no T&S

[10:24] {magoo} dave says they are working on it

[10:26] {dino} nite l .74

[10:29] {wulff} have good weekend all

[10:29] {Threei}  take care wqulff

[10:29] {nemo} this sucks

[10:29] {Threei}  -q

[10:30] {magoo} take care wulth

[10:30] {Threei}  what does?

[10:30] {magoo} wulff

[10:30] {nemo} my LII prices are frozen, got LII bids offers and no T&S

[10:30] {Threei}  yeah... do you see market doing anything?

[10:31] {dino} going up

[10:31] {nemo} I realize the malfunction is currently fortuitous timing, but, like New England weather-just wait a minute.

[10:31] {dino} what do you need quote-wise

[10:32] {Threei}  quotes are OK, it;'s only T&S that is off

[10:32] {dino} ok

[10:33] {nemo} Actually my last price is frozen also, must be tied to T&S

[10:33] {Threei}  FAS is at .40, right?

[10:33] {nemo} approximately, yeah

[10:33] {Threei}  dino?

[10:33] {Threei}  .38 offer

[10:33] {Threei}  .49

[10:33] {nemo} yeah I can see the bids and offers

[10:33] {Threei}  .38

[10:34] {dino} 5.37

[10:34] {fernp} y

[10:34] {Threei}  yup

[10:34] {dino} .38

[10:34] {dino} .39

[10:34] {Threei}  ty

[10:35] {dino} np

[10:36] {Threei}  UPDATE: CONGRESSIONAL BUDGET OFFICE(CBO) REPORTEDLY REVISING 2009 BUDGET DEFICIT TO $1.8T

[10:36] {Threei}  from?

[10:38] {dino} zero

[10:38] {dino} lol

[10:38] {dptl} was it long that quote issues or just happend ?

[10:39] {Threei}  about 20 min

[10:39] {dptl} ok ty....slept in today..:)

[10:39] {magoo} server 12 & 16 giving lev 2 and charts

[10:40] {magoo} streaming no go 

[10:40] {nemo} hook up the ticker tape machine?

06[10:41] * magoo slaps nemo around a bit with a large trout

[10:42] {magoo} hmmmmmmm..slap worx fine

[10:42] {nemo} lol

06[10:43] * nemo applies ointment to fins

[10:43] {Threei}  *&^$#@)&

[10:44] {Threei}  http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031804104.html

[10:44] {Threei}  Antarctica, here I come

[10:44] {nemo} Eh...it's just the French Revolution...relax

[10:44] {nemo} you're in Canada anyway

[10:45] {Threei}  can't believe President personally would whip the country in such frenzy aimed at the WRONG PEOPLE

[10:45] {nemo} they

[10:45] {nemo} they're the new "Juden"

[10:46] {dino} lphi sm l .60

[10:49] {Threei}  FED'S BULLARD: DEFLATION IS A 'REAL POSSIBILITY' ; LARGE SHOCK COULD TRIGGER A DEFLATIONARY SPIRAL AND AN IMPORTANT NEAR TERM GOAL IS TO AVOID DEFLATION

[10:49] {Threei}  there you go

[10:49] {Threei}  with all those trillions injected, main threat is still deflation

[10:50] {nemo} They're trying to subvert the principles of growth and decay...what a mess

[10:51] {Threei}  watching PRU

[10:51] {Threei}  possible short

[10:53] {patience} vad, any info on vvus, i have options, thx

[10:53] {Threei}  standard setup would be .40 short with stop above .55, but I don't see breakdowns working on its intraday chart

[10:53] {patience} vvus

[10:53] {Threei}  no news

[10:53] {vinod} bac at tuesday's price

[10:53] {patience} looks like a w

[10:53] {patience} but is v v

[10:53] {patience} ok, thanks, nice jump today

[10:53] {Threei}  CNBC had it in its schedule for today

[10:54] {Threei}  probably moved in anticipation

[10:54] {Threei}  if that's all, will sell down after actual appearance

[10:54] {patience} ty, i'll dump some of my options now

[10:57] {ese} L AMTD .80 

06[11:01] * Threei slaps laserdave around a bit with a large T&S window

[11:02] {nemo} they're baaaaackkkkk

[11:02] {laserdave} i have been on the phone with these guys for awhile now

[11:03] {laserdave} it should be working guys

[11:03] {Threei}  it is

[11:03] {laserdave} good

[11:03] {laserdave} if anyone has issues

[11:03] {laserdave} log out

[11:03] {Threei}  market is not doing anything anyway

[11:03] {nemo} Yeah looks like directedge was having a problem

[11:03] {laserdave} and re log in

[11:03] {laserdave} we have been so solid for so long

[11:03] {laserdave} a 30 minute hiccup is doable

[11:04] {nemo} it was market wide dave.  IB was having some issues also

[11:04] {Threei}  doable eh?

[11:04] {Threei}  lol

[11:04] {laserdave} ya

[11:04] {Threei}  you proved yourself dave, you can do it... now, don't it again :)

[11:04] {laserdave} was thinking of taking some trout and heading over there

[11:04] {laserdave} but i will let it slide

[11:04] {laserdave} :)

[11:06] {Threei}  FAZ...

[11:06] {Threei}  if breaks .50 here

[11:06] {Threei}  should head for 34

[11:07] {Threei}  small shares with stop under .30

[11:08] {magoo} in

[11:10] {Threei}  half out +.30

[11:11] {Threei}  stop to under .45

[11:11] {magoo} out .80 ty

[11:11] {Threei}  welcome

[11:11] {magoo} i had 600 sh so juust cut all there

[11:12] {Threei}  why not leave 200

[11:12] {magoo} because im stupid

[11:12] {Threei}  oh

[11:12] {Threei}  that's respectable reason

[11:12] {Threei}  sorry for questioning you

[11:13] {Threei}  GS

[11:13] {Threei}  CFO: AIG WOULD HAVE HAD NO MATERIAL IMPACT TO GS HAD IT FAILED - CONF CALL

[11:13] {Threei}  no?

[11:13] {Threei}  why are we being told we couldn't let AIG fail then?

[11:13] {magoo} hey vad..we can short FAZ

[11:14] {Threei}  1/4 more oput FAZ .96

[11:14] {Threei}  +.46

[11:15] {Threei}  stop for the last piece is still .45

[11:15] {Threei}  letting it trade

[11:15] {Threei}  run forrest run

[11:16] {cosmo} i think i remeber martial law might happen if they failed....?

[11:16] {cosmo} remember

[11:16] {dino} they are talking about impact on gs

[11:17] {dino} gs may have hedged it

[11:17] {cosmo} gs would have to go to fema camps

[11:17] {cosmo} nah...

[11:19] {dino} well, when going thru hell.......

[11:19] {magoo} keep on going

[11:19] {dino} man, i have to get another magic 8 ball for days like this

[11:20] {dino} nice move online ed's

[11:21] {dino} eqix

[11:21] {Threei}  FAZ stop to .90

[11:22] {Threei}  probably getting too reedy but what the heck

[11:22] {Threei}  most of the profit is secured

[11:22] {Threei}  and even if hits trailing stop, that will be +.40

[11:22] {cosmo} that's what AIG said

[11:23] {Threei}  lol

[11:24] {Threei}  to take a buck or let it trade

[11:24] {Threei}  that is the question

[11:24] {Threei}  whatever

[11:25] {Threei}  out +$1.06

06[11:26] * Threei slaps magoo around a bit with a large text of famous soviet song "coward does not play hockey"

[11:29] {Threei}  everyone's asleep? (with hope in voice)

[11:30] {pita} sorry, you're still on duty....

[11:30] {Threei}  noooooo....

[11:31] {Threei}  I was eyeing that coach for a few hours of happy coma

[11:31] {Threei}  ummm

[11:31] {Threei}  make it couch

[11:32] {pita} vad, can sound be added to web browser RT connection?

[11:33] {Threei}  hmmm

[11:33] {Threei}  no idea

[11:33] {Threei}  i doubt it

[11:34] {Threei}  mirc is way more advanced in this sense

[11:37] {dino} pita, i usually just yell

[11:37] {Threei}  lol

[11:37] {dino} kids tell me office language is bad

[11:37] {Threei}  not exactly high tech but works flawlessly

[11:38] {dino} plus, at magoo, sometimes it is quite funny

[11:38] {dino} kicking is what cost me the $$$

[11:38] {pita} screaming today

[11:39] {dino} :)

[11:39] {nemo} looks like you're meandering market hypothesis panned out

[11:40] {dino} star

[11:40] {Threei}  Dodd on TV

[11:40] {Threei}  lashing out at Geithner

[11:41] {pita} trying to reconfigure screens...

[11:45] {dino} sad when ese gets banned

[11:46] {Threei}  people really need to learn to type in their passwords correctly

[11:47] {ese} i'm back......just your....you know...randomly being kicked from the board......

[11:48] {Threei}  lol

[11:49] {Threei}  random kicking is our way to maintain fairness

[11:49] {dino} es take a look at eqix, star

[11:49] {dino} cedc too

[11:50] {Threei}  US AUTO TASK FORCE'S RATTNER: GM AND CHRYSLER MAY REQUIRE ADDITIONAL AID; REITERATES WILL AIM TO COMMENT ON AID AND PROVIDE FRAMEWORK FOR AUTO FIRMS BY THE END OF MARCH

[11:50] {Threei}  - Rattner asks bondholders, stakeholders to cooperate, all holders must make concessions

[11:50] {Threei}  - Notes that the UAW must show its on path to cut labor costs

[11:50] {Threei}  - Says that Chrysler is 'barely' making it with its standalone program

[11:51] {ese} will do dino

[11:52] {Threei}  PREVIEW: FED CHAIRMAN BERNANKE SCHEDULED TO PARTICIPATE IN A PANEL DISCUSSION WITH FDIC'S BAIR AT NOON ET

[11:52] {Threei}  - Bernanke will have prepared text on the topic "The Financial Crisis and Community Banking," followed by a Q&A.

[11:52] {dino} think we missed star

[11:52] {ese} ouuuuuuuuu now theres potential

[11:52] {dino} waiting at .30

[11:53] {nemo} .85 long on star Dino?

[11:53] {ese} am nursing this AMTD trade but would like in on EQI

[11:53] {ese} X

[11:53] {dino} cedc l .81

[11:54] {dino} no nemo,

[11:54] {dino} [11:52] {dino} waiting at .30

[11:55] {nemo} that's bottom fishing!

[11:55] {dino} yes

[11:55] {dino} looking for fast zip down, inefficeincies

[11:56] {dino} where'd that drop come from

[11:56] {nemo} in what"

[11:56] {nemo} ?

[11:57] {dino} dji

[11:57] {dino} 18 to flat in blink

[11:57] {nemo} Bernanke must have stepped to the podium

[12:00] {dino} eqix going to hold the lod?

[12:00] {Threei}  FED'S BERNANKE: TOO BIG TO FAIL COMPANIES ARE 'COMPLACENT' ABOUT RISK; REGULATORS SHOULD MONITOR EXEC COMPENSATION

[12:01] {dino} why wouldn't they be, get paiod 10s of millions win or lose

[12:02] {dino} fat fingers typing today

[12:03] {dino} star nemo, you may be right

[12:03] {nemo} broken clock moment

[12:04] {nemo} thickening up on the bids

[12:04] {dino} l .90

[12:08] {dino} jumped the shark

[12:08] {nemo} yeah...goin

[12:08] {nemo} yeah, goin for the DB

[12:09] {nemo} it's also lunchtime

[12:09] {dino} .78 hard stop

[12:10] {dino} stopped 

[12:10] {nemo} trap door dropped

[12:12] {dino} rinsed

[12:12] {nemo} SOB

[12:12] {ese} out AMTD .94 +.14 on a lot and a 1/2

[12:13] {ese} works for me

[12:15] {magoo} vad..we in anything{multi tasking}

[12:15] {nemo} What's Bernanke saying

[12:15] {Threei}  in coma

[12:15] {nemo} got a hematoma?

[12:15] {Threei}  - TALF if successful should lower consumer, mortgage, and business costs

[12:15] {Threei}  - Too big to fail companies are 'complacent' about risk; regulators should monitor exec compensation; may need to modify capital and accounting rules.

[12:15] {nemo} "if successful"

[12:19] {dino} eqix sm l .24

[12:20] {dino} star we were one drop too soon

[12:21] {ese} bstop STAR .10

[12:21] {ese} full lot

[12:22] {ese} L

[12:23] {ese} stop .00

[12:24] {ese} out .16 +.06

[12:25] {ese} didn't like the look of QQQQ

[12:25] {ese} ah well what can you do

[12:26] {Threei}  CALIFORNIA FEB UNEMPLOYMENT: 10.5% V 10.1% PRIOR

[12:26] {Threei}  RUSSIAN ANNOUNCEMENT SHOULD NOT AFFECT TSN'S EXPORT SALES

[12:26] {Threei}  - Note that earlier today the USDA reported that Russia has banned US poultry imports.{RSX}

[12:28] {dino} gj

[12:37] {Threei}  amusingly inactive market today

[12:37] {dino} yeah like yesterday goes down, then 30 pt range foir hours

[12:38] {dino} kind of market that may lead me to drink

[12:38] {nemo} so, what makes this market different from any other

[12:38] {patience} most profitable week of the year for me though dino, i'll drink to that

[12:39] {dino} me too patience, and last week i said same

[12:39] {dino} nemo, fast markets no time to think about the drink, lol

[12:39] {nemo} no, you have hydration pack on your back

[12:40] {ese} trading currencies patience

[12:40] {patience} currency etfs

[12:40] {dino} short greenback?

[12:40] {Threei}  who said what where?

[12:40] {patience} i'm expecting cdn dollar to strengthen

[12:40] {patience} yup

[12:40] {dino} nice

[12:40] {dino} ever play udn?

[12:41] {patience} nope

[12:41] {dino} 2x short $

[12:41] {nemo} double top on BAC?

[12:41] {patience} will look at it, thanks dino

[12:42] {dino} uup 2x long, and no problem (wearing my jamaica shirt)

[12:43] {patience} i'm expecting down markets monday, tuesday, will go shopping   :)

[12:45] {dino} no idea, but will wait until 10ish for 1st trades

[12:51] {dino} uthr sm l .25

[12:52] {dino} forgot had it out there

[12:52] {dino} nite stopped -.05

[12:52] {pita} gotta go TC all

[12:52] {dino} cya

[12:57] {Threei}  take care pita

[12:57] {Threei}  anyone sees anything to warrant the selling?

[12:58] {nemo} Been a good week and the G20 meeting this weekend?

[12:59] {Threei}  I mean siome kind of real time news

[12:59] {Threei}  well, other than prez on tv

[12:59] {nemo} none that I see

[12:59] {Threei}  which is not really news anymore by any stretch of imagination

[12:59] {patience} when does expiration activity finish today

[12:59] {nemo} like big brother on the telly in 1984

[13:02] {dino} dk

[13:24] {Threei}  watching with interest now

[13:24] {Threei}  FAS dive under 5 would be something to make me come out of coma

[13:24] {nemo} how do you type while in a coma?

[13:24] {Threei}  many years of practice

[13:33] {dino}   nite l .61

[13:42] {dino} nite stopped -.05

[13:45] {Threei}  while we are waiting for omething to start happening,

[13:45] {Threei}  how's that for an irony

[13:45] {fernp} go ahead

[13:45] {Threei}  West Vancouver woman, judging by last name of german origin

[13:46] {Threei}  in aftermath of 9/11 attack converted to Islam,

[13:46] {Threei}  opened pro-islamic pro-terrorist website

[13:46] {Threei}  at some poin of her venture fiund herself in Afghanistan

[13:46] {Threei}  got kidnapped by Taliban

[13:47] {nemo} now living like a real muslim woman

[13:47] {Threei}  ransom demand is 2 mil,

[13:47] {Threei}  threatened to be beheaded at the end of March

[13:47] {Threei}  careful for what you wish for, eh?

[13:48] {nemo} did FAZ just duplicate you're earlier call?

[13:49] {Threei}  kind of, yeah

[13:54] {Threei}  ok, looks like final leg of selling is shaping up

[13:57] {dino} star .89 l

[13:59] {Threei}  if FAS never loses 5 and breaks 5.10 instead, will probably be a trend reversal signal

[14:01] {Threei}  COLOMBIA CUTS INTEREST RATES 100BPS TO 7% FROM 8%

[14:01] {Threei}  in case ou are interested

[14:01] {dino} thats a cut

[14:02] {nemo} so coke financing costs should go down

[14:02] {vinod} they get their financing from columbia

[14:03] {nemo} to quote dino, "tough crowd"

[14:03] {vinod} you taking about white power?

[14:04] {dino} lol

[14:04] {nemo} yes vinod

[14:05] {nemo} actually "powder"  It's not politically correct to talk about white "power"

[14:05] {Threei}  5 is lost

[14:05] {Threei}  all is lost... what to do, what to do...

[14:05] {nemo} Watch the TV show, the brunette is hot

[14:05] {vinod} it's boaring so, i have to write something--nemo

[14:06] {cosmo} when in trouble; when in doubt; run in circles; scream and short

[14:06] {cosmo} shout

06[14:06] * nemo slaps vinod around a bit with a large trout

[14:06] {nemo} not criticizing making conversation like you....ahhhh

[14:07] {vinod} faz is hot

[14:07] {nemo} Weren't we talking about how it was going to zero?

[14:07] {Threei}  I don't know about FAZ... this kind of support breaks as FAS just did ususlly lead to sharp selling

[14:07] {Threei}  it's holding right there

[14:07] {Threei}  could be sharp bounce brewing

[14:08] {Threei}  well nemo, first it was going to go to 200

[14:08] {Threei}  then to zero

[14:08] {Threei}  somehow neither happened

[14:08] {nemo} Well the end of the USA is coming and then the world

[14:08] {Threei}  oh

[14:09] {nemo} read it today

[14:09] {Threei}  okay then

[14:09] {nemo} you retiring?

[14:09] {Threei}  I don't care as I decided to move to Antarctica anyway

[14:09] {nemo} Vad and his trusty pet penguin

[14:09] {Threei}  or if it comes next week, I'll simply remain in the Bahamas

[14:09] {vinod} i wants 200 point down day so we can do good on monday

[14:09] {nemo} you can do well 200 points down...just short

[14:10] {nemo} they let you at Fidelity?

[14:10] {vinod} yes. but i do not have ball to do it

[14:11] {Threei}  BAC not making new low with FAS

[14:11] {nemo} noticed that

[14:11] {nemo} vinod, no different from going long...

[14:12] {Threei}  yeah... just different lorder of actions

[14:12] {Threei}  sell first, buy later

[14:12] {nemo} formations are the same, just reversed

[14:12] {Threei}  would like to see one more pullback on BAC and try to eneter closer to 6

[14:12] {nemo} C&H upright for breakout up, C&H upside down for breakdown

[14:13] {vinod} honestly i have never shorted

[14:13] {dino} star stop to .03\

[14:13] {nemo} Yeah Vad...I have to remember that order, hurts when you sell, and then sell

[14:13] {dino} to .05

[14:14] {nemo} what size lot dino

[14:14] {Threei}  ugh, no pullback

[14:14] {dino} to .08

[14:14] {dino} fl

[14:14] {Threei}  comeon, drop to 6.05 at least

[14:15] {dino} out star .08, +.19

[14:17] {Threei}  one more downturn should happen here

[14:18] {dino} how about there

[14:18] {Threei}  okay FAS

[14:18] {Threei}  closer to 5 please

[14:24] {Threei}  so narrow, I can't pick up entry

[14:24] {Threei}  and dive under 5, even though that was what I wanted to see, haven't given much indication for entry,

[14:24] {Threei}  pace was pretty much flat

[14:24] {dino} cnqr blood

[14:25] {Threei}  oh my

[14:25] {Threei}  look who opened his mouth

[14:25] {Threei}  FORMER FED CHAIRMAN GREENSPAN: OFFICIALS CAN NOT DIFFUSE BUBBLES BEFORE THEY POP

[14:25] {nemo} prez?

[14:25] {nemo} worse

[14:25] {Threei}  no, really?

[14:26] {Threei}  gotta let bubble play out?

[14:26] {nemo} He has to be Woody Allen's twin

[14:26] {Threei}  PREDICTING FINANCIAL CRISES IS BEYOND THE ABILITY OF MONETARY OFFICIALS TO FORECAST;

[14:26] {Threei}  eeck

[14:26] {nemo} What BS

[14:26] {Threei}  I can list quite a few people who predicted this crisis to the letter

[14:27] {Threei}  is this senility taking over? or ill conscience?

[14:27] {nemo} Dodd syndrome

[14:27] {dino} ese, cnqr?

[14:27] {dino} sm l .50

[14:34] {Threei}  great... just when FAS fiannly touched 5 and bounced, I was away from computer

[14:34] {Threei}  what an irony, to wait hours for this setup and miss it

[14:34] {Threei}  anyone got it?

[14:35] {nemo} was waiting for you to call it

[14:35] {Threei}  JAVA

[14:35] {Threei}  WSJ: SOURCES EXPECT IBM TO PROCEED WITH OFFER FOR COMPAN

[14:35] {Threei}  {IBM}

[14:35] {nemo} JAVA?

[14:36] {Threei}  ?

[14:36] {Threei}  DUE DILIGENCE IS DELAYING DEAL

[14:36] {nemo} duh?  nevermind

[14:36] {Threei}  I don't understand what the question is

[14:36] {Threei}  [14:35] {nemo} JAVA?

[14:37] {nemo} nemo's reply:  {nemo} duh?  nevermind

[14:37] {dino} cnqr stopped

[14:37] {nemo} I pulled a Homer Simpson

[14:40] {dino} last try cnqr .00

[14:46] {Threei}  FDIC: REVISES Q4 NET LOSS FORECASTS FOR BANKS TO $32.1B FROM $26.2B PRIOR EXPECTATION

[14:46] {nemo} pocket change

[14:49] {Threei}  WHITE HOUSE PRESS SEC: US TREASURY SEC GEITHER HAS IS SUPPORT WITH FULL CONFIDENCE

[14:50] {nemo} until he doesn't

[14:50] {nemo} I can hear it now, "It was time to make a change.  We'd like to thank Tim for his outstanding service to his country..."

[14:50] {dino} last try nite .49 l

[14:51] {Threei}  HEARING DEFENDED AT WILLIAM BLAIR (TIMING UNCERTAIN)

[14:51] {Threei}  - CNQR is weaker today on unconfirmed chatter that the CEO may have lied about his educational background.

[14:52] {dino} don't they all lie

[14:55] {vinod} Stocks Break to the Downside After Barney Frank Doubts Fed as Regulator 

[14:55] {Threei}  wasn't he the one to introduce bill with broadening Fed's regulatory powqers

[14:57] {dino} out cnqr .60, +.60

[14:57] {Threei}  wtg

[14:57] {dino} ty

[14:57] {dino} pulp one

[14:58] {Threei}  my feel is, we are done with downside for the day

[14:59] {dino} my feel is, tough day

[15:01] {Threei}  CNQR

[15:01] {Threei}  CONFIRMS CEO DOES NOT HAVE UNIVERSITY DEGREE

[15:01] {Threei}  oh horror

[15:01] {dino} c'mon, pappa needs some new shoes (baseball season you know)

[15:02] {nemo} Colonel Kurz again?

[15:02] {dino} bill gates didn't have one either

[15:04] {Threei}  FED'S TALF PROGRAM REPORTEDLY RECEIVE 19 APPLICATIONS FROM VARIOUS FUND MANAGERS - UNCONFIRMED REPORT

[15:04] {dino} good

[15:04] {fernp} have a nice weekend everybody. see you on monday

[15:05] {Threei}  take care fern, have a great one

[15:05] {dino} cya

[15:07] {Threei} Long Setup:  RIMM  .75 if stays above .65

[15:10] {dino} dbtk

[15:11] {magoo} in .71 agreess

[15:14] {vinod} no rimm

[15:14] {magoo} no work

[15:15] {dino} ughhhhhh cnqr

[15:15] {Threei}  yeah

[15:15] {Threei}  I guess people realize how immaterial it is

[15:16] {Threei}  - CNQR Spokesperson notes the company halted reference to degree in filings in 2007; Singh attended the school from 1979 to 1983

[15:16] {Threei}  who cares?

[15:18] {dino} i do at 18

[15:18] {nemo} you got married at 18?

[15:19] {dino} ?, 30

[15:20] {nemo} [15:18] {dino} i do at 18 {{{thought it was shorthand 

[15:20] {nemo} tough crowd

[15:20] {dino} ahhh, my mind is cloudy, too much today

[15:20] {Threei}  no, we just don'y see the connection between doing it and marriage

[15:21] {nemo} yeah, my corpus collusum doesn't connect well with my cerebellum.  

[15:21] {nemo} Larisa back next week?

[15:21] {dino} ahhh, doing it should be connected w/marriage

[15:21] {ese} signing off for the weekend everyone....have a god one

[15:22] {nemo} easy ese

[15:22] {Threei}  you too ese

[15:22] {ese} ahh good

[15:22] {ese} see ya vad

[15:22] {dino} out uthr .65, +.40

[15:22] {dino} cya s

[15:23] {vinod} have a nice weenend everyone

[15:23] {dino} you2 vinod

[15:23] {Threei}  take care vinod

[15:23] {dino} theres still money to be made imo

[15:23] {nemo} c ya Vinod

[15:24] {nemo} cnqr dino

[15:24] {dino} watching, was thinking 18.20 area

[15:25] {dino} ask me why?

[15:26] {nemo} o.k I'll bite, why?

[15:26] {dino} 'cause it should not get there in my mind

[15:26] {dino} so if it does, i have to hit it

[15:26] {nemo} if it get's there this late on a Friday?

[15:27] {dino} sure

[15:27] {dino} 30+ left

[15:27] {dino} laying out

[15:27] {nemo} by the time it get's there????

[15:28] {dino} i'll give it until 3:50

[15:28] {dino} sm guys, no worries

[15:28] {dino} -17% we do not do size

[15:29] {nemo} Mmmmmmmhhhh...Marie Antoinette?

[15:29] {dino} out eqix all day, +.35

[15:30] {dino} at .55

[15:30] {dino} fortune favors the bold nemo

[15:30] {nemo} we had this talk about taking point

[15:31] {Threei}  again with my traditional confusion between bold and bald...

[15:31] {nemo} look at Rimm

[15:32] {Threei}  mibbit disconnects people

[15:32] {nemo} soylent green is people

[15:33] {dino} twight zone?

[15:33] {nemo} Soylent Green starring Charleton Heston, last movie Edward G. Robinson did

[15:34] {dino} opps, "to serve man"

[15:35] {magoo} restrm worx

[15:35] {nemo} wish I had been watching CNQR, look at that classic hangman at the top

[15:35] {nemo} "It's a cookbook!"

[15:35] {dino} :)

[15:35] {dino} cnqr getting near

[15:35] {dino} dbtk?

[15:35] {nemo} tick tock tick tock

[15:36] {dino} nite stop to .59

[15:37] {dino} to .62

[15:37] {dino} out +.13

[15:41] {Threei}  WHITE HOUSE ECONOMIC ADVISOR ROMER: Q1 GDP DATA WILL BE "QUITE ROUGH" - TV INTERVIEW

[15:41] {Threei}  ahhh

[15:41] {Threei}  revelation of the day

[15:42] {nemo} dino cnqr

[15:42] {dino} ok cnqr sm l .20

[15:43] {dino} waiting at .50

[15:44] {nemo} Vad...all these people competing for your title

[15:44] {dino} 1:1 guys if in keep it

[15:45] {Threei}  I gave up nemo

[15:45] {Threei}  no way I keep the title with such fierce competition

[15:45] {nemo} never give up vad

[15:46] {dino} vad is king

[15:46] {dino} of course no mkt help

[15:47] {dptl} have a good evening all and good weekend

[15:47] {Threei}  regardless dino... amazing patience for entry

[15:47] {Threei}  take care dp, have a good one

[15:47] {dino} cya dp

[15:47] {nemo} boy's a sniper

[15:47] {Threei}  fess up time... I tok .16 but scalped

[15:47] {dino} tighten to .97

[15:47] {nemo} on CNQR?

[15:47] {Threei}  yeah

[15:48] {nemo} snuck up behind Dino huh?

[15:48] {dino} yes

[15:48] {Threei}  wow FAS

[15:48] {dino} no problem 1/1 was .30, tighten

[15:50] {Threei}  in .03

[15:51] {Threei}  can I afford 5 cents stop?

[15:51] {dino} indeed

[15:52] {dino} tighten to .09

[15:53] {Threei}  C CEO: WORKING WITH US GOVT ON SYSTEM FOR COMPENSATION

[15:54] {dino} slave to obama

[15:54] {Threei}  amazing

[15:54] {Threei}  country solves bonus problem

[15:55] {Threei}  class warfare

[15:57] {Threei}  on come on

[15:57] {Threei}  3 min, can you move 5-6 cents??

[15:57] {nemo} yeah, down

[15:57] {Threei}  whatever

[15:57] {dino} to .24 

[15:58] {dino} out +.04

[15:58] {Threei}  better than my coming -.04 :)

[15:59] {Threei}  JPM

[15:59] {Threei}  EXEC: WORKING ON CHALLENGES FACED BY RECENT LAWMAKER ACTIONS REGARDING BONUSES - MEMO

[15:59] {Threei}  jeez

[16:00] {Threei}  okay... time's out

[16:00] {Threei}  out flat

[16:00] {Threei}  AIG is suing

[16:00] {nemo} and the vertically challenged lady has sung

[16:00] {dino} wow, crazy two hours

[16:00] {Threei}  good

[16:00] {Threei}  I want to see how that works out

[16:00] {nemo} horizontally challenged...I'm vertically challenged

[16:01] {Threei}  thank you all

[16:01] {Threei}  great week

[16:01] {Threei}  have a good weekend, see you on Monday

[16:01] {nemo} P&Q

Mar 19 2009

Mostly scalping day but a lot of those and with very high percentage of winning.. No complaints at all. All the usuals - FAS, BAC, GE etc

Session Time: Thu Mar 19 00:00:00 2009

[08:10] {Threei}  PREVIEW: US INITIAL JOBLESS CLAIMS DATA DUE OUT AT 8:30 AM ET

[08:10] {Threei}  - Expectations for initial claims are 655K v prior release of 654K (range seen from 635K to 690K)

[08:10] {Threei}  - Continuing claims seen at 5.323M v prior 5.317M. (range seen from 5.270M to 5.400M)

[08:22] {Threei}  Good morning

[08:23] {Threei}  after employment numbers are out,

[08:23] {Threei}  keeping an eye on

[08:23] {Threei}  BRCD, break over 3 is interesting

[08:23] {Threei}  upgraded at RBC

[08:24] {Threei}  AUY, break over 9 and general gold strength

[08:24] {Threei}  and of course usual suspects

[08:24] {Threei}  with WFC beiong interestingly weak

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 646K V 655KE;

[08:30] {Threei}  CONTINUING CLAIMS: 5.473M V 5.323ME

[08:30] {Threei}  - Prior jobless claims revised from 654K to 658K

[08:30] {Threei}  - Prior Continuing Claims revised from 5.317M to 5.288M

[08:44] {Threei}  08:40am [DRYS] Wins $630M contract from Petrobras to employ the Leiv Eiriksson for three years

[08:55] {magoo} mornimng

[08:57] {Threei}  GE

[08:57] {Threei}  EXPECTS TO BE PROFITABLE IN Q1 V $0.24E

[08:57] {Threei}  magoo :)

[09:00] {Threei}  nice move off news

[09:00] {dptl} good morning

[09:00] {Threei}  dp :)

[09:00] {nemo} wow!  mags vad dp :)

[09:00] {i2romantis} morning all

[09:01] {Threei}  nemo, i2r :)

[09:01] {nemo} BAC just breached the morning high

[09:02] {elepet} good morning

[09:02] {Threei}  FDX

[09:02] {Threei}  CEO: THE US ECONOMY HAS PROBABLY HIT BOTTOM - CONF CALL

[09:02] {Threei}  elepet :)

[09:02] {elepet} baltic shipping moving up.drys exm dsx and others

[09:03] {nemo} there goes BAC

[09:05] {Threei}  C

[09:05] {Threei}  TO REPORTEDLY SELL $3B IN CREDIT CARD BONDS FOR THE TALF PROGRAM

[09:05] {Threei}  - also notes it may increase authorized shares to between 40B and 60B from current 15B as part of conversion plan.

[09:07] {Threei}  serious offers are being lifted on GE

[09:09] {Threei}  DRYS, if we get meaningful pullback, likely to be an opening play

[09:13] {ese} GM....

[09:14] {Threei}  ese :)

[09:14] {ese} Balkin index up today

[09:14] {ese} 630mil coontract...nice

[09:14] {Threei}  yup

[09:17] {dino} gm all

[09:17] {ese} dino

[09:18] {Threei}  dino :)

[09:18] {cosmo} orcl tests high

[09:18] {Threei}  and DRYS

[09:18] {pita} gm dino, all

[09:18] {Threei}  and GE

[09:18] {Threei}  pita :)

[09:18] {dino} :)

[09:19] {Threei}  OK guys, I think it's obvious what mode we are in for now, right?

[09:19] {cosmo} open breaks .... after all these years...

[09:19] {Threei}  hehe

[09:19] {Threei}  and pullbacks

[09:19] {dino} salvation through inflation coming into play after that meeting, echo bubble in the making, imo

[09:20] {Threei}  for late arrivals:

[09:20] {Threei}  [08:23] {Threei} keeping an eye on

[09:20] {Threei}  [08:23] {Threei} BRCD, break over 3 is interesting

[09:20] {Threei}  [08:23] {Threei} upgraded at RBC

[09:20] {Threei}  [08:24] {Threei} AUY, break over 9 and general gold strength

[09:20] {Threei}  [08:24] {Threei} and of course usual suspects

[09:20] {Threei}  [08:24] {Threei} with WFC beiong interestingly weak

[09:20] {Threei}  and all usual suspects

[09:20] {vinod} good morning  all

[09:20] {Threei}  FAS, BAC, GE, DRYS

[09:20] {Threei}  vinod :)

[09:21] {Threei}  AIG, this is beyond the limits of this universe

[09:21] {Threei}  it's out of some other one

[09:21] {Threei}  to put it simply:

[09:21] {Threei} Long Setup:  ANYTHING  at any price

[09:22] {Threei}  well, except FAZ {G}

[09:23] {Threei}  if we are lucky, we get either pullback, or consolidation and break

[09:23] {nemo} looked at FNM and FRE?

[09:23] {Threei}  if things just jump out ofg the gate, will be tough to get entries

[09:23] {Threei}  I refuse to

[09:24] {Threei}  my fingers can't type those symbolss

[09:24] {nemo} 40% overnight

[09:26] {Threei}  BALTIC DRY BULK INDEX -3.5%; SEVENTH STRAIGHT DECLINE

[09:27] {vint} good morning all

[09:27] {Threei}  vint :)

[09:27] {dino} dollar hit

[09:27] {nemo} dino is going after the crown

[09:33] {Threei}  MICROSOFT CEO BALMER: YAHOO DEAL IS COMPELLING ECONOMICALLY

[09:33] {fernp} hello everybody

[09:34] {Threei}  fern :)

[09:36] {Threei}  GE, watching for long entry

[09:36] {Threei}  ideally, one more leg down

[09:36] {Threei}  with antry under .90

[09:36] {Threei}  entry

[09:37] {Threei}  WFC

[09:37] {dino} 21% straight up s/p; due for a pullback

[09:38] {Threei} Long Setup:  WFC  17 break if holding above 16.90

[09:38] {Threei} Long Setup:  GE  11 break if holding above 10.90

[09:39] {Threei}  wow wfc

[09:42] {dino} fcbc thinny

[09:42] {wulff} wfc valid?

[09:42] {Threei}  ?

[09:42] {Threei}  of course not

[09:44] {nemo} slw and auy headed north

[09:44] {Threei}  I keep waiting for AUY pullback and not getting it

[09:46] {Threei}  GE over 1:1, half out or scalp

[09:46] {fernp} out GE ty Vad

[09:46] {Threei}  welcome

[09:46] {dino} nite?

[09:47] {Threei}  GS downgraded NITE

[09:47] {dino} ty

[09:48] {Threei}  .long rimm .80 break if stays above .65

[09:48] {Threei} Long Setup:  RIMM  .80 break if stays above .65

[09:48] {nemo} fly by

[09:49] {Threei}  1:1

[09:49] {Threei}  GE, if take partial, stop to .98 for the balance

[09:53] {Threei} Long Setup:  STT  half lot .90 if stays above .70

[09:53] {Threei}  wow FAS

[09:53] {Threei}  biounce time very soon

[09:55] {dino} nite getting interesting, 15 strike 

[09:55] {ese} ADBE bstop .11 full lot

[09:55] {Threei}  one more leg down on FAS,

[09:55] {Threei}  or if holding above .75, .85 long

[09:55] {dino} watching uthr for 4th day

[09:55] {ese} Long adbe

[09:56] {Threei}  STT no go

[09:57] {ese} out adbe ..17

[09:57] {ese} quick hit

[09:58] {Threei}  FAS, watch for pullback to .70

[09:58] {Threei}  entry with stop under .65

[09:59] {Threei}  in

[09:59] {nemo} in

[10:00] {Threei}  *FEB LEADING INDICATORS: -0.4% V -0.6%E

[10:00] {Threei}  - prior revised from +0.4% to{SPY SHY}

[10:00] {ese} in FAS

[10:00] {ese} .73

[10:00] {Threei}  - prior revised from +0.4% to 0.1%{SPY SHY}

[10:00] {Threei}  MAR PHILADELPHIA FED INDEX: -35 V -39E

[10:01] {Threei}  half out FAS .85

[10:01] {ese} out 1/2

[10:01] {Threei}  scalpers know what to do

[10:01] {ese} out full

[10:02] {Threei}  yeah

[10:02] {Threei}  scalping rules still

[10:02] {ese} +.08 on full lot

[10:02] {Threei}  AUY pulled back

[10:02] {Threei}  trying to find decent entry

[10:03] {ese} might try fas again around .50

[10:04] {dino} gj es

[10:04] {ese} hmmm might not get there

[10:04] {ese} followed the cheif......was easy

[10:04] {ese} chief

[10:04] {nemo} market digesting yesterday afternoon

[10:05] {nemo} jefe

[10:05] {nemo} ese

[10:05] {dino} chef

[10:05] {Threei}  US HOUSE MINORITY LEADER BOEHNER: TREASURY SEC GEITHNER IS "ON THIN ICE"

[10:05] {ese} fearless leader

[10:06] {Threei}  Terrific Tim in troubles

[10:06] {dino} boehner playing hard guy

[10:06] {nemo} Throwing spitballs from the peanut gallery

[10:07] {ese} interesting name.....

[10:07] {nemo} wht?  we're almost back to FOMC level on FAS

[10:08] {Threei}  .long ge .70 break

[10:08] {dino} es, lol, that was my joke

[10:08] {Threei} Long Setup:  GE  .70 break

[10:08] {Threei}  if holding above .60

[10:09] {nemo} and NOBODY wanted to look at FAZ

[10:09] {dino} at lod's

[10:11] {pita} lotta red

[10:11] {vinod} nemo  lot to do because of option expiration tomorrow

[10:12] {nemo} treachorous...moguls on a double black diamond slope

[10:12] {Threei}  .40 crossback was FAS entry but happened faster than I could type

[10:12] {dino} nite sm l .25

[10:13] {Threei}  BAC

[10:13] {Threei}  .55 long

[10:13] {Threei}  stop under .45

[10:14] {vinod} in bac 7.55

[10:15] {wulff} RIMM...

[10:16] {ese} dino your screens showing anything huge dn....

[10:16] {Threei}  AAPL

[10:17] {Threei}  102 break

[10:17] {Threei}  half lot, if stays above .80

[10:17] {Threei}  BAC 1:1

[10:17] {fernp} out BAC ty

[10:17] {Threei}  half out or scalp, your decision

[10:17] {Threei}  AAPL 1:2

[10:17] {tomg} ty vad aapl

[10:18] {Threei}  1:1, sorry

[10:18] {Threei}  tom :)

[10:18] {nemo} out BAC scalp

[10:18] {nemo} ty

[10:18] {Threei}  welcome

[10:18] {Threei}  honestly, I expected today to be good for more than scalps

[10:19] {Threei}  now AAPL 1:2

[10:19] {Threei}  I was a bit ahead of myself {G}

[10:20] {Threei}  can't believe I missed FAS entry

[10:21] {Threei}  BAC is coming into 1:2

[10:22] {Threei}  who kept part of BAC, get out

[10:22] {vinod} out bac 7.82 see you after 3.00

[10:22] {wulff} I took .50

[10:22] {Threei}  good job, take care

[10:23] {Threei}  on FAS wulff?

[10:23] {wulff} yes

[10:23] {Threei}  :)

[10:23] {Threei}  ESLR

[10:23] {Threei}  SIGNS PARTNERSHIP AGREEMENT WITH RMT, INC.

[10:23] {Threei}  wow... this dog is still alive

[10:24] {nemo} now be nice, some people love that stock

[10:24] {Threei}  anyone who loves the stock needs some medical checkup

[10:25] {Threei}  how can you love the symbol consisting of 2-4 letters, beyond me

[10:28] {ese} Vad eslr has enough future contracts to make the stock a 30 to 40 dollar stock 3 to 5 years....I still have my 3000shs of it at 3.00

[10:29] {ese} 3.28 to be exact

[10:29] {Threei}  only if it survives cahsless period of this year ese

[10:29] {ese} true.....

[10:29] {Threei}  it has cash to sustain it till summer, maybe midsummer

[10:30] {Threei}  in this credit climate, finding financing is a tough task

[10:30] {Threei}  if they succeed at it they have a shot

[10:30] {ese} assuming there are any banks left.....they will give it carry over cash till contracts cut in

[10:31] {Threei}  yes, or

[10:31] {Threei}  ESLR, being green and all that, finds help form giverment

[10:31] {ese} it'll go broke

[10:31] {Threei}  or that, lol

[10:31] {ese} ahhhh didn't think about that

[10:31] {Threei}  with all the rhetorics about financing green companies and jobs,

[10:32] {Threei}  kind of hard to imagine this administration letting US-based solar manufacturer to go under

[10:32] {Threei}  although you know...

[10:32] {Threei}  when it comes to goverment, stranger things have happened

[10:33] {ese} indeed

[10:36] {Threei} Long Setup:  GE  11 break if stays above 10.90

[10:36] {ese} all things considered.....I definately have a gamble goin here

[10:36] {ese} with ESLR

[10:36] {magoo} rimm read vad?

[10:36] {Threei}  nothing's wrong with gamble as long as you realize it is just that,

[10:36] {Threei}  and can afford the negative outcome

[10:37] {ese} indeed

[10:37] {magoo} AAPL into support vad??

[10:37] {Threei}  no read for now mags

[10:37] {magoo} was .54 when asked..bam up

[10:38] {Threei}  so what can I do when thing jumps 20 cents in seconds?

[10:38] {magoo} no..just meant i felt it

[10:38] {magoo} not u boss

[10:38] {Threei}  strange

[10:38] {Threei}  usually it's my dfault

[10:38] {magoo} :0

[10:38] {ese} crystal ball.........theres one on your kitchen table ?????....or was that a flower pot

[10:39] {nemo} wife is really having an effect on you, huh Vad

[10:41] {magoo} NOW im mad at ya..lol

[10:41] {Threei}  whew

[10:41] {magoo} not really..took aapl .77 out .12

[10:42] {Threei}  all is well in my world again

[10:42] {magoo} foer now

[10:42] {nemo} in GE

[10:42] {wulff} in GE

[10:42] {Threei}  7 break on FAS was valid setup... don't know why I skipped it

[10:42] {ese} L STLD .29

[10:43] {ese} if it gets through that huge offer at .30 will go some

[10:43] {ese} big offers at .30

[10:44] {ese} aggressive entry for sure

[10:45] {Threei}  GE over 1:1

[10:45] {Threei}  half or scalp

[10:45] {Threei}  whatever you fancy

[10:45] {pita} out ty

[10:45] {Threei}  :)

[10:46] {nemo} out ty

[10:46] {Threei}  welcome

[10:46] {dino}  isrg

[10:46] {nemo} auy pullback

[10:46] {Threei}  FHFA: OBAMA HOUSING PLAN REQUIRES ADDITIONAL WORK BEFORE LAUNCH

[10:46] {Threei}  {FNM FRE XHB}

[10:47] {dino} mant

[10:47] {nemo} Probably blow up on the pad

[10:49] {ese} stld pushing up against that 200k sh offer at .30

[10:51] {ese} before LUNCH?

[10:52] {ese} oh sorry before LAUNCH

[10:52] {Threei}  lol

[10:52] {Threei}  made me look in kithe4n direction

[10:53] {ese} stop for STLD is .09

[10:54] {ese} that news item for ESLR turned my Solar watch list all green

[10:58] {dino} is that like "sun" tea, your solar screen

[10:59] {nemo} huh? what?

[10:59] {dino} bad joke

[10:59] {Threei}  .long fas .80 break

[11:00] {Threei}  feel free to take scalp as you see fit

[11:01] {Threei}  we are coming into lunch time

[11:01] {Threei}  patterns become sluggish

[11:01] {ese} hmmmmmmm....never thougt of it that way dino....

[11:02] {Threei}  out .91

[11:02] {Threei}  everyone's asleep?

[11:02] {nemo} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

06[11:02] * Threei is hopeful he can fall asleep, too

[11:04] {nemo} ese, you got me wathcing stld

[11:09] {Threei} Long Setup:  FAZ  small shares .75

[11:09] {Threei}  stop under .50

[11:10] {nemo} got by

[11:10] {Threei}  1:1

[11:11] {Threei}  over 1:2, out in full

[11:11] {Threei}  +.60

[11:14] {dino}  v sm isrg l .15 wide

[11:19] {dino} sm risky l mant .05

[11:22] {pita} thanks for good day Vad, all - day job....

[11:22] {Threei}  take care pita

[11:24] {ese} sorry am back nemo.....stepped away for a few minutes

[11:24] {Threei}  RU) REPORTEDLY RUSSIAN SOURCES IN CONVERSATIONS WITH CHINA BACKED TALKS ON USING USD AS MAIN RESERVE CURRENCY

[11:24] {Threei}  there was something earlier about UN calling to ditch USD as reserve currency

[11:24] {dino} as we start the devaluation process

[11:24] {nemo} makes sense...the position the US has itself in turns it into a strategic weapon

[11:25] {Threei}  I find it hard to believe we still haven't ditched UN

[11:25] {ese} if stld gets through that humongus offer at .30 nemo....it's off to the races I think

[11:27] {Threei}  03/18/09 06:19am Reportedly, a UN Experts Panel will recommend moving from USD to a 'shared' reserve currency

[11:27] {Threei}  how's that Euro working again?

[11:27] {dino} i vote to stop funding the un

[11:28] {nemo} Idealists will make it work

[11:28] {Threei}  I wanted to say I second thaat

[11:28] {Threei}  but then decided, no, I am first

[11:28] {nemo} Keep your friends close...enemies closer

[11:29] {Threei}  FAZ C&H

[11:31] {dino} uthr sm l .25

[11:32] {Threei}  .75 long FAZ

[11:32] {Threei}  if holding .55

[11:33] {Threei}  no go

[11:33] {dino} we fund like 40% of the budget and they just bash us

[11:34] {Threei}  to me, there are just two options

[11:34] {Threei}  1. eviction notice

[11:34] {Threei}  2. bulldozer

[11:36] {dino} as they said on tombstone, "burn 'em all, ike"

[11:39] {dino} patience, thoughts on cop, have apr 40 calls

[11:39] {patience} just a sec dino   :)

[11:40] {dino} :)

[11:41] {patience} you were in the money today with a nice pop

[11:41] {dino} had .90 on them

[11:41] {patience} little more room to run, long swing definitely up, but infill needed

[11:42] {dino} where do you usually get out % wise?

[11:42] {patience} let me think

[11:42] {patience} i tend to be greedy and scalp momo in options like the underlying stock

[11:43] {patience} i am not good at holding them

[11:43] {dino} ok

[11:43] {dino} ty

[11:43] {dino} next thinking either calls on tbt or puts on tlt

[11:45] {Threei}  lol, who would have thought yesterday this rally will fizzle out so quickly

[11:47] {Threei}  }White House} what does it take to make tyou darn wallstreeters happy??

[11:47] {dino} me

[11:48] {dino} [09:38] {dino} 21% straight up s/p; due for a pullback

[11:54] {Threei}  let's see if we get double bottom on FAS around 6

[11:54] {Threei}  ugh, not pulling back

[12:02] {dino} nite stop to .39

[12:03] {dino} out nite +.14 fl

[12:10] {Threei} Long Setup:  BAC  7 break

[12:11] {magoo} in

[12:12] {nemo} no fill

[12:12] {Threei}  come on

[12:13] {Threei}  what are you sleeping?

[12:13] {Threei}  it gave ample time

[12:13] {nemo} broke at 7.01 came back order at 7 missed, technique sucked

[12:14] {dino} when you lose, don't lose the lesson

[12:15] {Threei}  this FAS pullback is kind of defining moment

[12:15] {Threei}  if not losing .15 and jumps back up, trend for the day is likely to reverse

[12:16] {nemo} RIMM seems to have reversed

[12:16] {dino} well the fat kid trade not in force today

[12:21] {dino} hmmm no comment

[12:21] {Threei}  no clear sign of reversal

[12:21] {Threei}  can go either way from here

[12:22] {nemo} so we have a "Bi" market  or "Andro"

[12:22] {Threei}  metro

[12:22] {nemo} got me on that one

[12:23] {Threei}  up starts looking mopre likely

[12:23] {dino} fed=fat kid, he/fed has justy jumped into the pool

[12:23] {Threei}  FAS slowly making higher highs after bottoming out

[12:23] {nemo} RIMM keeps moving up

[12:24] {Threei}  BAC 1:1

[12:24] {fernp} out TY

[12:24] {Threei}  took its sweet time eh

[12:28] {Threei}  guys, remember elctronic cigarette dp showed us couple weeks ago?

[12:28] {Threei}  yeah, I forgot who I am dealing with... memory span of a day trader (read moth)

[12:29] {nemo} please...bacteria

[12:29] {dino} gmcr

[12:32] {Threei}  GE EXEC: CREDIT COSTS ARE INCREASING - INVESTOR DAY

[12:33] {Threei}  do they have scalper day?

[12:34] {Threei}  FAS looks to me like returing to .50 and most likely breaking it

[12:34] {Threei}  finding right entry is another matter

[12:34] {magoo} vad..server?

[12:34] {Threei}  pullback to .30 - .35 zone

[12:34] {Threei}  6

[12:35] {magoo} ty

[12:37] {Threei}  in .26, stop under .20

[12:41] {Threei}  oh come on

[12:43] {Threei}  half out .35

[12:44] {Threei}  something makes me feerl this time should be good for more than scalp

[12:45] {Threei}  stop .25

[12:46] {magoo} in it

[12:46] {magoo} out bac too .16

[12:46] {nemo} You're welcome guys on FAS I Magooed

[12:47] {dino} nite l .15

[12:47] {Threei}  1/4 more out .48

[12:49] {Threei}  out in full .56

[12:49] {Threei}  +.30

[12:49] {Threei}  intuition works

[12:49] {magoo} out .562 ty

[12:49] {Threei}  and waiting for the right entry

[12:49] {magoo} .52

[12:50] {jmb} Thanks Vad

[12:50] {Threei}  welcome :)

[12:51] {dino} plce

[12:59] {Threei}  US AUTO TASKFORCE: WILL HAVE SOMETHING TO SAY BEFORE 3/31 REGARDING GM AND CHRYSLER

[12:59] {Threei}  {GM F}

[12:59] {Threei}  I can take wild guess at what they will have to say

[13:04] {Threei}  FDIC'S BAIR: CONSIDERING USING THE TOTAL ASSETS HELD BY BANKS RATHER THAN DOMESTIC DEPOSITS ALONE TO SET ASSESSMENT RATES

[13:04] {nemo} finagling everything they can

[13:05] {Threei}  so now when Dodd was caught not only inserting bonuses clause but also publicly lying about it on TV,

[13:06] {Threei}  do we see him pushed out in any way?

[13:06] {Threei}  do we see senate apologizing to Liddy?

[13:06] {Threei}  and btw,

[13:06] {nemo} He is to Ct. what Kennedy is to Mass.

[13:06] {Threei}  since Tim is culpable in it,

[13:07] {Threei}  do we see prez saying "oops, I expressed all this outrage at AIG but it was my own treasury to blame"?

[13:08] {dino}  nite stopped -.16

[13:11] {Threei}  CNN line says:

[13:11] {Threei}  obesity can shorten life up to a decade

[13:11] {nemo} Sen. Chris Dodd says Treasury forced him to add language to the stimulus bill last month that specifically excluded executive bonuses included in contracts signed before the bill's passage. 

[13:12] {Threei}  so, if I don't want to see how this all ends, I can just eat myself into oblivion?

[13:12] {Threei}  double pleasure?

[13:12] {Threei}  a lot of chocolate cake

[13:12] {Threei}  fatty meat

[13:12] {Threei}  beer of course

[13:13] {Threei}  and build your socialism with me, I have already seen this movie

[13:13] {Threei}  with - = without

[13:16] {magoo} vad..the qustion for rest of day?

[13:16] {Threei}  a bit early mags

[13:16] {Threei}  can't get a feel yet

[13:16] {magoo} back to flat?crash?green/

[13:16] {Threei}  uncertain moment

[13:17] {Threei}  if NQ holding 1195 and goes above 1205, most likely flat to upward

[13:17] {Threei}  if loses 1195, all bets are off

[13:31] {dino} nite l .91 stop .78

[13:35] {dino} stopped nite done w.it

[13:47] {magoo} in anything VAD?

[13:49] {Threei}  I'd let you know, wouldn't I

[13:49] {magoo} yup

06[13:49] * Threei slaps magoo around a bit with a large roll of cash

[13:50] {magoo} multi tasking here..may miss a call

[13:52] {Threei}  OK... assumption is we mostly drift upward,

[13:52] {Threei}  looking for pullback entry

[13:53] {Threei}  considering the way pullbacks looked today, expanding much further than in a nornmal uptrend,

[13:53] {Threei}  looking for FAS entry under .40 and BAC near .25

[13:56] {dino} mant blood

[13:57] {dino} bounced .60

[13:59] {Threei}  prez on TV

[14:00] {dptl} can't beleive this..lol

[14:00] {Threei}  I am slowly getting it dp

[14:01] {Threei}  nation infected by American Idol and other reality shows got confused somewhat during an election, and accidentally voted for a TV star

[14:02] {dptl} :)

[14:02] {Threei}  no pullbacks for entry

[14:02] {Threei}  oh well

[14:04] {ese} take care everyone signing of

[14:04] {ese} off

[14:05] {Threei}  take care ese

[14:05] {dino} ughhhh missed mant for .90

[14:05] {dino} chickened out

[14:10] {dino} add another .90 to it, sheesh

[14:17] {Threei}  PIMCO'S GROSS: FED NEEDS TO RAISE THE BALANCE SHEET TO $5-6T, NEED MORE THAN THE FED BUYING TREASURIES

[14:17] {Threei}  - Note that the Fed raised its balance sheet to around $3T with their announcement yesterday; this may rise to $4T with additional TALF spending.

[14:18] {vinod} i only need one T

[14:19] {Threei}  I would be fine with it too

[14:19] {Threei}  Vice Prez on TV

[14:20] {Threei}  REMINDER: S&P QUARTERLY INDEX REBALANCE THIS FRIDAY

[14:20] {Threei}  - The quarterly share rebalance for the S&P 500, S&P MidCap 400 and S&P SmallCap 600 Indices will take place at the close of business Friday, March 20, 2009.

[14:20] {dino} chicken little you mean

[14:20] {Threei}  **S&P500 Top 10 Stocks with shares to Buy: GE 11.7M, ODP 5.6M, C 4.32M, JPM 3.7M, SE 3.54M, WFC 3.5M, BAC 3.5M, MET 2.69M, CVS 2.35M, CHK 2.3M.

[14:21] {Threei}  **S&P500 Top 10 stocks with shares to Buy compared to avg. daily volume: NU, SE, ODP, FLIR, AVY SCG, DUK, CVS, BIIB, TIE.

[14:21] {Threei}  **S&P500 top 10 stocks with shares to sell: XOM -14M, ORCL -8M, HPQ -5M, PG -5M, AMGN -2.5M, EMC -2.3M, BRCM -2M, DTV -1.8M, GCI -1.7M.

[14:21] {Threei}  **S&P500 Top 10 stocks with Shares to Sell compared to avg. daily volume: XOM, PG, DGX, AMGN, RTN, CBE, APH, MBI, GCI, FISV.

[14:22] {Threei}  **Nasdaq100 Top 5 stocks with Shares to Buy compared to avg. daily volume: FLIR, VRTX, IACI, BIIB, WYNN

[14:22] {Threei}  **Nasdaq100 Top 5 stocks with Shares to Sell compared to avg. daily volume: AMGN, FISV, ORCL, DTV SIAL

[14:23] {Threei}  here are my pullbacks

[14:23] {Threei}  not sure I want them here anymore, lol

[14:24] {Threei}  [13:53] {Threei} looking for FAS entry under .40 and BAC near .25

[14:27] {nemo} Vad, did you take?

[14:28] {Threei}  no

[14:28] {nemo} Thanks...misery loves company

[14:28] {Threei}  somewhat listless movement

[14:28] {nemo} by listless, do you mean the hesitation at the bottom?

[14:29] {nemo} of FAS that is

[14:30] {dino} cpla

[14:32] {dino} boreddddddddddddd

[14:32] {Threei}  not sure how to put it in words

[14:32] {Threei}  no rythm

[14:33] {Threei}  no feeling that here is a move with normal markets to it

[14:33] {Threei}  GE CFO: DO NOT SEE SCENARIO WHERE WOULD HAVE TO RAISE EXTERNAL CAPITAL - INVESTOR DAY

[14:33] {Threei}  lol... in two weeks: oh, here it is! Now I see it

[14:34] {nemo} the situation is fluid...

[14:34] {Threei}  MAGNITUDE 7.7 EARTHQUAKE STRIKES TONGA REGION; TSUNAMI WARNING IN EFFECT

[14:34] {dino} sounds familiar

[14:34] {dino} tayd

[14:34] {Threei}  as always someone buys TAYD on this

[14:41] {dino} zzzzzzzzzzzzzzzzzzzzzz

[14:41] {Threei}  AIG

[14:41] {Threei}  US HOUSE APPROVES 90% TAX ON CERTAIN CORPORATE BONUSES

[14:42] {Threei}  retroactive?

[14:42] {nemo} of course.  It's illegal, but it's done all the time

[14:42] {dino} cpla ave .00 l sm

[14:43] {nemo} fas and bac dropping on the news hahahahahaha

[14:43] {nemo} don't think we want to play this bounce either

[14:44] {dino} they are using aig to hit legit bonuses given out by other businesses, not good

[14:44] {dino} f'ing news bites moves this market too much

[14:44] {nemo} also for Congress to cover their asses...point the anger someplace else

[14:45] {dino} yes, but this a.m. they were saying it was going to be used on most big bonuses given out in usa

[14:46] {dino} politics of envy, you got, i want it but can't get it, so i shall destroy it

[14:46] {Threei}  old soviet joke...

[14:47] {Threei}  guy is told by ginnie he can have anything he wants,

[14:47] {Threei}  the only condition attached is, neighbor get twice of the same

[14:47] {Threei}  guy's request: rip off one of my balls

[14:48] {dino} lol

[14:48] {fernp} LOL

[14:48] {dino} well, obamination says "change has come", the politicians will be the richest now

[14:51] {vinod} look like fas is going to be at yesterday's opening price 5.48

[14:51] {Threei}  btw, you know that if you have withdrawal in the evening of not seeing prez on TV for too long, you can see him on Leno tonight, right?

[14:52] {Threei}  I'll be a buyer if it goes there vinod

[14:53] {vint} can't believe FAS made 7.80 earlier today..

[14:53] {Threei}  no kidding

[14:54] {Threei}  BAC 8.5

[14:55] {Threei}  well, the idea of bounce play starts becoming enticing

[14:55] {Threei}  just don't want to jump in too soon,

[14:55] {Threei}  hate those papercuts while hunting for the bottom

[14:56] {Threei}  6.05 long if holding above 6

[14:57] {dino} cpla stopped -.25

[14:57] {Threei}  1:1

[14:57] {Threei}  out .16

[14:57] {Threei}  easy money

[14:58] {Threei}  anyone??

[14:58] {fernp} me. ty

[14:58] {Threei}  that's it... not giving you any easy money plays anomore

[14:58] {Threei}  except fern

[14:58] {Threei}  the rest gets only struggling money plays

[14:58] {vinod} too fast and miss it

[14:59] {Threei}  wow, really?

[14:59] {nemo} yeah, bounce plays for me tough

[14:59] {Threei}  what kind of broker do you use?

[14:59] {Threei}  .05 was there for quite enugh time for a click

[14:59] {vinod} fidelity

[14:59] {nemo} To you long time

[14:59] {Threei}  oohhhh

[14:59] {Threei}  okay... understand then :)

[15:00] {vinod} will get there, given time

[15:00] {Threei}  right

[15:00] {Threei}  just be careful with fast moving stocks using fidelity

[15:00] {wulff} if I don't struggle it just doesn;t feel right

[15:01] {Threei}  if caught on a wrong side and trying to exit, could turn a disaster

[15:01] {nemo} you floss with barbed wire too wulff?

[15:01] {Threei}  lol wulff

[15:01] {Threei}  my motto is, No pain? Good!

[15:01] {wulff} been there done that

[15:01] {nemo} got the t-shirt

[15:01] {vinod} what broker most use here

[15:02] {Threei}  Laser

[15:02] {Threei}  you'll see it in videos

[15:03] {vinod} thanks

[15:03] {nemo} It's on those infomercials "stock-o-matic"

[15:03] {Threei}  executions speed vs fidelity is a space shuttle vs bike

[15:03] {nemo} Mmmmhhhh....sometimes space shuttle don't land too good.

[15:05] {nemo} California Congressman Calls Maryland Home to Gain Tax Credit 

[15:06] {vinod} nemo they have wife in ca and girl friend in maryland

[15:08] {Threei}  and boyfriend in North dakota

[15:08] {nemo} oy

[15:09] {Threei}  US FED CONFIRMS EXPANDING ELIGIBLE COLLATERAL FOR TALF; NEXT ROUND OF APPLICATIONS DUE APRIL 7

[15:09] {Threei}  - WIll include auto fleet leases, mortgage servicing advances

[15:09] {Threei}  - New collateral to include securities backed by business equipment leases and laons, adds non-auto floor-plan financing

[15:09] {Threei}  - Fed also considering additional expansion of collateral eligibility.

[15:09] {Threei}  - additional details on the April funding will be released on March 24; subscriptions will be accepted on April 7 and those loans will settle on April 14.

[15:11] {Threei}  I think pencils will be acepted as colalteral on the next round

[15:11] {Threei}  andf paperclips

[15:16] {dino} well, that sucks as i'm paperless

[15:16] {nemo} mmmmhhh....kleenex works too

[15:22] {Threei}  UAW CLAIMS BONDHOLDERS REFUSING GOVT LOAN TERMS; ARE HOLDING UP DEALS WITH GM AND CHRYSLER

[15:22] {Threei}  - UAW comments that its retirees should not have to make additional sacrifices{F}

[15:22] {nemo} If GM goes out of business the government guarantees the pensions anyway

[15:23] {dino} yes

[15:23] {nemo} more bills for the unborn

[15:24] {dino} same w/banks, fdic on deposits, so why save the common?

[15:26] {Threei}  I don't feel like selloff is coming

[15:26] {Threei}  rather modets bounce

[15:26] {Threei}  modest

[15:28] {Threei} Long Setup:  FAS  .o5 if stays above 6

[15:29] {nemo} in

[15:29] {magoo} in

[15:30] {vinod} in

[15:32] {Threei}  half out or scalp here, your choice

[15:32] {nemo} scalpe

[15:32] {Threei}  out in full here

[15:32] {Threei}  +.21

[15:33] {Threei}  easy money

[15:33] {vinod} 0ut 6.25

[15:33] {Threei}  even though I promised you struggle only

[15:33] {vint} EZ money

[15:33] {Threei}  lol

[15:33] {magoo} ouit .27 TY

[15:33] {Threei}  welcome guys

[15:34] {Threei}  shaped up as a beautiful day, even though market performed like putz

[15:34] {Threei}  couple stops I think

[15:34] {Threei}  the rest is wins even though mostly scalps

[15:36] {wulff} Vad, may I ask how many trades you did today, (15 or what)

[15:36] {Threei}  around 20 I think

[15:36] {wulff} just curious

[15:36] {Threei}  can't tell from the software at once,

[15:37] {Threei}  bexcause it registers every partial as a trade

[15:37] {Threei}  and there were a lot of those

[15:37] {Threei}  but without going over whole log, intuitively feels like 15-20, yes

[15:39] {dino} out uthr .68 +.43 all dayer

[15:39] {Threei}  hmm

[15:39] {Threei}  not sure I want to try FAS ere this time

[15:39] {Threei}  4th attemp at 6

[15:39] {Threei}  feels like this time it will be broken

[15:40] {nemo} short?

[15:40] {Threei}  even third was a bit of a stretch

06[15:40] * Threei pats himself on the back, even under the risk of dislocating the shoulder

[15:41] {nemo} did an .8 short on FAS

[15:41] {Threei}  good

[15:41] {nemo} .08

[15:42] {vinod} will see you tomorrow

[15:42] {Threei}  take care vinod

[15:43] {dino} mant l .51

[15:47] {nemo} Gotta' go folks.  see ya

[15:47] {Threei}  take care nemo

[15:47] {Threei}  fern... my apology

[15:47] {nemo} Take it anyway I can get it

[15:47] {fernp} why

[15:47] {Threei}  I found another easy money play,

[15:47] {Threei}  looked you up,

[15:47] {Threei}  you weren't here

[15:47] {Threei}  so I had to give it to the rest of the room

[15:48] {fernp} oh...

[15:48] {Threei}  even though they didn't deserve anything but struggle plays

[15:48] {dptl} test.

[15:48] {fernp} lol

[15:49] {fernp} easy money like everybody

[15:50] {Threei}  must be my bad influence... people abandon atempts to speak English {G}

[15:51] {fernp} everyone likes easy money

[15:51] {Threei}  I'll be a party poopwer and say "but not everyone deservers it"

[15:53] {Threei}  a bit narrow day which explains mostly scxalps

[15:53] {Threei}  red on somewhat lower volume

[15:53] {Threei}  so maybe just a pullback

[15:54] {wulff} expiration in AM

[15:56] {Threei}  wow

[15:57] {dptl} ok...have a good evening all

[15:57] {Threei}  I seriously didn't expect to see FAS here today

[15:57] {Threei}  take care dp

[15:57] {fernp} later dp

[15:58] {Threei}  okay guysd

[15:58] {Threei}  thank you all

[15:58] {Threei}  have a great evening

[15:58] {Threei}  see you tomorrow

[15:58] {vint} good evening all

[15:58] {fernp} good day here. TY Vad

[15:58] {Threei}  :)

[15:58] {fernp} good evening all

[15:59] {dino} out mant .63 +.12

[16:00] {dino} out isrg flat

Mar 18 2009

Beautiful day, mostly thanks to a very strong (and proven correct) feeling that rally was brewing while market retreated. It led to a series of long calls that worked like charm. FAS, BAC, STT, RIMM - all usual suspects, and served faithfully.

Session Time: Wed Mar 18 00:00:00 2009

[08:30] {Threei}  *FEB CONSUMER PRICE INDEX M/M: 0.4% V 0.3%E;

[08:30] {Threei}  *Q4 CURRENT ACCOUNT BALANCE: -$132.8B V -$137.1BE

[08:30] {Threei}  - Prior revised from -$174.1B to -$181.3B

[08:32] {nemo} see news on SUN?

[08:32] {nemo} mornin'

[08:34] {Threei}  I don't see anything fresh on SUN

[08:34] {nemo} jump on rumors IBM takeover

[08:35] {Threei}  oh

[08:35] {Threei}  that's JAVA

[08:35] {Threei}  not SUN

[08:35] {nemo} sorry should just have sent call sign.  Previous life I worked with Sun Microsystems

[08:36] {Threei}  company is called Sun

[08:36] {Threei}  so easy to mix them up

[08:36] {nemo} especially for me

[08:37] {nemo} actually, it used to be called Sun Microsytems

[08:37] {nemo} systems

[08:41] {Threei}  AIG over 1

[08:42] {Threei}  03/18/09 07:18am

[08:42] {Threei}  Senator Grassley (R): We need contrition and apologies from people on Wall Street

[08:42] {Threei}  - Believes he and Senator Baucus have written "a constitutional bill."

[08:42] {Threei}  - Reminder: Yesterday Senators Baucus (D) and Grassley (R) proposed a bill to tax, up to 98%, the bonuses of employees at financial firms receiving bailout funds from the government.

[08:42] {Threei}  why do I find it very disturbing

[08:42] {nemo} Want my opinion?

[08:42] {Threei}  with all the disgust for this bonus pracice,

[08:43] {Threei}  I can't feel at ease with rewriting laws and contracts after the fact

[08:48] {nemo} That's the issue Vad.  Having said that, the rule of law has never applied to the rich and powerful.  We get little bones of show trials once in a while.  About 40 years ago, in a sense, the rule of law was done away with for the poor.  There's been an erosion of being held responsible for one's actions.  Now, with this example of the recent debacles, it's front and center.  Does "Humanity and Justice" ring a bell?

[08:48] {Threei}  JAVA

[08:48] {Threei}  UNVEILS OPEN CLOUD PLATFORM

[08:48] {Threei}  - Sun also outlined that a core element of its strategy is to offer public clouds and previewed plans to launch the Sun Cloud, its first public cloud service targeted at developers, student and startups.

[08:48] {Threei}  - Sun also announced the release of a core set of Open APIs, unveiled broad partner support for its cloud platform and demonstrated features of the Sun Cloud.{IBM}

[08:58] {Threei}  FASB ISSUES PROPOSALS TO BOOST FAIR VALUE MEASUREMENTS GUIDANCE

[08:58] {pita} gm all

[08:58] {nemo} shoul we just buy FAS now?

[08:58] {Threei}  that's roundabout way to talk about m2m

[08:58] {Threei}  pita :)

[08:59] {Threei}  - Reminder: On 3/17 FASB said it is planning to publish two papers proposing permitting banks and other companies to value securities using computer models rather than market prices.

[08:59] {nemo} So we'll go back to what got us in trouble in the first place

[09:00] {fernp} Hello everybody

[09:00] {Threei}  fern :)

[09:00] {cosmo} smoke&mirrors again

[09:00] {Threei}  yeah... what could be better than vodka to cure an alcoholic

[09:00] {Threei}  - The FASB today issued two proposed staff positions (FSPs) intended to provide additional application guidance regarding fair value measurements and impairments of securities. Proposed FSP FAS 157-e, Determining Whether a Market Is Not Active and a Transaction Is Not Distressed, provides guidelines for making fair value measurements more consistent with the principles presented in FASB Statement No. 157, Fair Value Measurements. Proposed FSP FAS 115-a, FAS 124-a, and EITF 99-20-b, Recognition and Presentation of Other-Than-Temporary Impairments, provides additional guidance designed to create greater clarity and consistency in accounting for and presenting impairment losses on securities.

[09:02] {dino} gm all

[09:02] {Threei}  dino :)

[09:02] {dptl} good morning

[09:02] {Threei}  dp :)

[09:02] {nemo} "Hair of the dog..."  never works for me.  I try it regularly.

[09:02] {pita} hey dino, belated happy birthday!

[09:02] {magoo} morning

[09:03] {nemo} How are you this morning Dino?

[09:03] {Threei}  magoo :)

[09:03] {Threei}  dino... how's hangover?

[09:03] {nemo} Magnus Magus :)

[09:04] {magoo} my roman name?

[09:04] {nemo} Means "great magician"

[09:05] {magoo} :0

[09:09] {dino} no hangover, and thx pita

[09:09] {vinod} gm

[09:09] {Threei}  vinod :)

[09:10] {Threei}  the only thing congress is busy with now is bonuses

[09:11] {Threei}  what an unbelieavble distraction

[09:11] {pita} congress must express indignation

[09:11] {Threei}  and find a scapegoat

[09:11] {pita} rightous indignation

[09:12] {ese} morning

[09:12] {cosmo} that man behind the curtin did it....

[09:12] {dino} oz?

[09:12] {Threei}  now it starts sounding lke AIG derivative traders havce caused whole financial crisis

[09:12] {cosmo} y

[09:12] {Threei}  ese :)

[09:13] {Threei}  BALTIC DRY BULK INDEX -5.7%; SIXTH STRAIGHT DECLINE

[09:13] {nemo} Great way for Congress to deflect attention from their active complicity in the mortgage debacle

[09:13] {cosmo} we'll be told not to call them traders

[09:13] {Threei}  actually they are/were now

[09:13] {Threei}  they sold insurance

[09:14] {nemo} Yeah...Credit Default Swaps are just insurance policies

[09:14] {nemo} magoo dcc

[09:15] {ese} when that baltic intdex takes off so will drys

[09:15] {cosmo} i need retention incentive insurance ...i think

[09:15] {ese} and egle

[09:15] {Threei}  and OCNF

[09:16] {ese} indeed

[09:17] {vint} good morning everyone

[09:18] {Threei}  vint :)

[09:19] {ese} vint

[09:20] {cosmo} JAVA busy

[09:20] {Threei}  AIG CEO:LEGAL OBLIGATIONS AND REALITIES OF COMPETITION CREATED BONUS NECESSITY - CONGRESSIONAL TESTIMONY

[09:20] {Threei}  problem with JAVA is, whole gap is based on rumor

[09:21] {Threei}  get caught long at the moment of denial hitting the wire, no way to control your loss

[09:21] {Threei}  alternatively, get caught short when they confirm rumor... :)

[09:24] {Threei}  so far, no clear play for the open

[09:24] {cosmo} never bet against the sun rise

[09:24] {dino} mrx

[09:24] {nemo} oooohhhhh cosmo

[09:24] {dino} dri

[09:24] {cosmo} :)

[09:24] {dino} online ed's getting hit

[09:31] {magoo} wow..aapl over 100

[09:34] {ese} JAVA is one to watch....up 57% in euro trading yesterday

[09:34] {ese} or overnight

[09:34] {Threei}  [09:20] {Threei} problem with JAVA is, whole gap is based on rumor

[09:34] {Threei}  [09:21] {Threei} get caught long at the moment of denial hitting the wire, no way to control your loss

[09:35] {magoo} vad..faz may be of interest if mkt pullsback

[09:38] {dino} es, dri?

[09:39] {Threei} Long Setup:  RIMM  .40 if stays above .25

[09:40] {dino} dri 35 strike and drop

[09:43] {nemo} well...fas left the station

[09:44] {pita} so did aapl

[09:45] {magoo} aapl nuts

[09:48] {Threei}  FAS, let's try to bid into pullback

[09:48] {Threei}  closer to .60

[09:49] {nemo} holding at the average in the BBs

[09:49] {nemo} so much for that

[09:51] {Threei}  .66 in

[09:51] {magoo} 66in

[09:52] {Threei}  ready to add if going lower, got half of what I want

[09:53] {Threei} Long Setup:  AAPL  .70 break half lot

[09:53] {Threei}  invaliadted

[09:55] {Threei}  got second half at .53

[09:55] {dino} dri sm s .80, risky

[09:55] {Threei}  stop under .40

[09:55] {nemo} in .57

[09:58] {vinod} 100.53 or 101.53

[09:58] {Threei}  that was for FAS vinod...

[09:58] {Threei}  [09:52] {Threei} ready to add if going lower, got half of what I want

[09:58] {Threei}  [09:55] {Threei} got second half at .53

[09:58] {vinod} thanks

[09:59] {Threei}  stop to .45

[09:59] {Threei}  out half .65

[09:59] {Threei}  stop to .49

[10:03] {Threei}  stop to .55

[10:03] {nemo} I'll remember that this time

[10:05] {Threei} Long Setup:  STT  .70 break if stays above .55, half lot

[10:05] {magoo} in

[10:06] {pita} blew by

[10:07] {Threei}  not a scalp for me mags

[10:07] {magoo} gotcha

[10:07] {magoo} .69 in

[10:08] {Threei}  reached over 1:1 for scalpers

[10:08] {nemo} should we get in on stt?

[10:08] {nemo} if closer to original break

[10:09] {Threei}  15 cents stop on half lot... I don't see why not

[10:11] {magoo} mkt killing it

[10:11] {nemo} stopped fas

[10:12] {dino} dri bstop to flat bad entry

[10:14] {magoo} RIMM here vad?

[10:14] {dino} stopped

[10:14] {Threei}  not sure about RIMM

[10:14] {Threei}  weak

[10:18] {magoo} news STT?

[10:19] {Threei}  nothing of substance

[10:19] {Threei}  half out

[10:19] {Threei}  .88

[10:20] {ese} L SPLS 1/2 .53

[10:20] {Threei}  stop to .65

[10:21] {ese} stop at .36

[10:22] {dino} of course cover dri flat 5 minutes later drops .50

[10:22] {fernp} I'm long AIG from 1.00, half out here .14 

[10:22] {fernp} give me a stop Vad, pls

[10:23] {Threei}  1.04 at this point

[10:23] {fernp} ty

[10:23] {Threei}  you heeded my "if breaks 1 likely to pull C on us" alert? :)

[10:25] {Threei}  STT 1:2

[10:25] {fernp} exactly that is the reason Vad :-)

[10:26] {Threei}  :)

[10:26] {Threei}  stop to under .80

[10:26] {ese} lots of false breakouts ????  anyone else finding that ........ SPLS giving me the same problem as a bunch of other stocks yesterday

[10:26] {Threei}  feel free to take profits STT as you see fit

[10:26] {tomg} ty vad

[10:26] {Threei}  tom :)

[10:28] {Threei}  I am out STT in full

[10:28] {Threei}  .20

[10:28] {Threei}  solid 50 cents profit

[10:28] {magoo} out .26 BEAUTY

[10:29] {Threei}  time to trail stop more aggresively on AIG fern.. and partial out

[10:29] {fernp} sold 1/4 .22

[10:30] {Threei}  DOE CRUDE: +2.2M V +1ME

[10:30] {magoo} wheres the AAPL bounce zone vad?

[10:30] {Threei}  I don't have read on it here

[10:31] {fernp} 1.13 new stop for AIG?

[10:31] {magoo} oh yes u do...dig deeper:)

[10:31] {Threei}  either .09 or .13

[10:31] {magoo} STT could BE THE player

[10:31] {magoo} 28ish

[10:31] {Threei}  depending on your desire to keep profits

[10:31] {nemo} dino is quiet

[10:32] {fernp} my desire? then stop below .20 :)

[10:33] {Threei}  well :)

[10:33] {Threei}  gotta find some compromise between taking what's available and attempting to let it gorw :)

[10:33] {fernp} yeah. my stop is .13

[10:34] {dino} dri sm s break .50

[10:34] {dino} yeah nemo, waiting for mrx to come back to me

[10:35] {dino} uthr too

[10:35] {ese} SPLS....stopped

[10:36] {ese} .-17

[10:36] {magoo} mkts getting clubbed

[10:37] {Threei}  financials are holding relatively well though

[10:37] {dino} well, opt ex week, need a 2% down day

[10:39] {fernp} out AIG

[10:39] {Threei}  there is a hearing on AIG in the senate right now

[10:40] {Threei}  probably adds to volatility

[10:42] {Threei} Long Setup:  FAS  .60 break if stays above .50

[10:42] {Threei} Long Setup:  STT  .20 break half lot if stays above 27

[10:43] {Threei} Long Setup:  BAC  .55 if stays above .50

[10:44] {magoo} in

[10:44] {magoo} in

[10:44] {magoo} not in

[10:44] {pita} in fas

[10:44] {dino} uthr sm l .56

[10:45] {vinod} in fas

[10:46] {Threei}  if my feel for this moment is right, we are about to see rally resumption

[10:47] {Threei}  FAS 1:1

[10:47] {Threei}  half out

[10:49] {nemo} stop to where on fas

[10:49] {magoo} gutsy call there doug{kass}

[10:49] {Threei}  .58

[10:49] {nemo} ty

[10:50] {Threei}  what are you talking about mags?

[10:50] {Threei}  STT spiked to .39?

[10:50] {Threei}  where was I

[10:51] {Threei}  BAC 1:1

[10:51] {Threei}  half out

[10:51] {Threei}  stop to .53

[10:51] {pita} ty 

[10:51] {pita} FAS

[10:51] {Threei}  scalpers know what to do, I am giving routine for day trade

[10:51] {fernp} out BAC C and HIG 1:1

[10:52] {Threei}  HIG eh

[10:52] {Threei}  forgot about that dog with fleas

[10:52] {fernp} same pattern

[10:52] {Threei}  yeah

[10:52] {Threei}  C is beyond belief

[10:54] {magoo} yea..wish i had 20k shares @ 2

[10:54] {Threei}  FAS breaks .75, trail stop to .65

[10:54] {dino} dri stopped -.35 

[10:56] {magoo} out FAS .77 tyb boss

[10:56] {dino} mrx l .23

[10:56] {Threei}  BAC 1:2

[10:57] {Threei}  FAS over 1;2

[10:57] {magoo} STT has 28 TODAY in it

[10:57] {magoo} not easy ride

[10:57] {Threei}  no, but 1:1 almost

[10:58] {magoo} im waiting .63

[10:58] {Threei}  solid gains on all calls guys, manage them according to your risk tolerance and monetary needs from here

[10:59] {Threei}  FAS is likely to do another run at 6 today

[11:00] {Threei}  and this tiome should take it

[11:01] {Threei}  thanks to aggressive entry BAC is at frikin 1:4

[11:01] {fernp} C is already above 3

[11:01] {Threei}  and still moving

[11:01] {magoo} frikin 

[11:01] {magoo} u mean frakkin

[11:01] {Threei}  I mean friukin

[11:02] {fernp} scalped from 2.80 to 2.90 grrrr

[11:02] {Threei}  10:46] {Threei} if my feel for this moment is right, we are about to see rally resumption

[11:02] {Threei}  was it a good feel or was it a good feel

[11:03] {magoo} all bow to "lord vader" :)

[11:03] {magoo} STT was your best

[11:03] {dino} gj guys

06[11:03] * Threei accepts the bow and retreats in his castle for the session of navel-gazing

[11:04] {fernp} yesterday:

[11:04] {fernp} [15:55] {Threei}  feels like tomorrow we are likely to be back in bullish mode, buying pullbacks

[11:04] {Threei}  worked like charm eh

[11:05] {Threei}  6 is taken on FAS

[11:05] {Threei}  over 1:4

[11:05] {nemo} So, does the pullback come before 7

[11:05] {Threei}  BAC I can't even compure r/r anymore

[11:06] {nemo} 1:6

[11:06] {magoo} let me try

[11:06] {Threei}  ty

[11:06] {magoo} uh, um,,never mind

[11:06] {nemo} just take your shoes and socks off Magoo

[11:07] {Threei}  backing off for now

[11:07] {magoo} out stt .,44

[11:07] {magoo} ty

[11:07] {Threei}  welcome

[11:07] {Threei}  gotta see how pullbacks are supported

[11:07] {magoo} saw it fall

[11:08] {Threei}  wow C

[11:08] {Threei}  look at this waterfall

[11:11] {dino} mrx stop to .35

[11:12] {dino} out mrx .35, +.12

[11:19] {dino} magoo, the only guy i know who hurts his knee walking down the hall

[11:21] {magoo} i just did

[11:21] {Threei}  lol

[11:21] {magoo} i hurt myself sleeping one night too

[11:22] {Threei}  I don't want to know

[11:22] {nemo} sure it wasn't the wife?

[11:22] {magoo} not sure actually

[11:22] {dino} out of shape

[11:24] {Threei}  what just happened?

[11:25] {nemo} prez on?

[11:25] {dino} nada

[11:25] {vinod} i got package no canadian gold coin in it

[11:25] {vinod} got package today- vad

[11:25] {nemo} zip, zed, Dino?

[11:26] {vinod} now will have to study it---hard part

[11:26] {dino} exactly

[11:26] {Threei}  cool.... but why did you expect canadian coins in it?? :)

[11:26] {vinod} you guy got lots of gold in canada

[11:27] {Threei}  well, it's not like we ship it evrywhere... we keeop it for ourselves

[11:28] {vinod} thanks

[11:28] {dino} stingy people

[11:28] {dino} :-)

[11:28] {Threei}  canucks?

[11:28] {Threei}  yeah

[11:28] {dino} ehhhh

[11:28] {Threei}  blame Canada {G}

[11:29] {dino} don't tell the senators that or they wi;;

[11:30] {dino} will

[11:31] {Threei}  FAS starts forming break 6.05 with stop under 5.90

[11:32] {Threei}  let's make it discretionary call guys

[11:32] {Threei}  you likey you takie

[11:32] {Threei}  no likey - sit ity out

[11:32] {Threei}  chart is right, time of the day is wrong

[11:32] {nemo} Threei's dry cleaners

[11:33] {nemo} Fed meeting today too, yes?

[11:33] {Threei}  yeah

[11:33] {nemo} maybe time for a 6 martini lunch

[11:34] {dino} uthr stop to .96

[11:34] {Threei}  AIG sharp down

[11:34] {dino} out +.40

[11:36] {Threei}  CREDIT SUISSE COMMENTS THAT IBM FOR JAVA ACQUISITION DOES NOT MAKE STRATEGIC SENSE; SEES NTAP AND EMC AS POTENTIAL TAKEOVER TARGETS IN THE SECTOR (TIMING UNCERTAIN)

[11:39] {dino} last try dri sm s .94

[11:39] {magoo} FAZ vad??

[11:40] {Threei}  not by me

[11:41] {pita} later all

[11:41] {Threei}  take care pita

[11:43] {dino} cya pita

[11:43] {magoo} financials clubbed

[11:45] {Threei}  I am listening this hearing on AIG

[11:45] {Threei}  they make it sound like the very idea of CDS is ridiculous

[11:46] {Threei}  and AIG fooled whole world

[11:46] {Threei}  sold insurance they couldn't pay off in case it's claimed

[11:47] {Threei}  I would assume any insurance company selling any kind of insurance WILL be bankrupted if all insured come in with claims

[11:47] {dino} i'm watching kardashians

[11:49] {nemo} kim?

[11:50] {dino} and sister on e, no volume, music on

[11:50] {dino} cnbc wears me out

[11:50] {dino} dri bstop is .03

[11:53] {dino} mrx l .19

[11:54] {dino} v sm l .00

[11:55] {Threei}  (US) GAO OFFICIAL: US HAS NO CLEAR STRATEGY FOR EXITING AIG

[11:56] {Threei}  as if there was any possibility to exit it without losses

[11:56] {dino} turn it into insuror of last resort, for hurricane insurance

[11:56] {nemo} and as if we'll ever know how much

[12:00] {dino} dri stopped -.08 done w/it

[12:00] {ese} java just going nuts

[12:01] {Threei}  WSJ: IBM LIKELY TO PAY BETWEEN $11-12/SHR FOR COMPANY

[12:01] {Threei}  {IBM}

[12:03] {magoo} [12:00] {ese} java just going nuts

[12:03] {magoo} [12:01] {

[12:03] {magoo} ty es...hit .50 to .80

[12:07] {ese} nice mags

[12:10] {dino} mcd sm l .00

[12:14] {Threei}  IBM CEO: PLANNING ON EVALUATING ACQUISITIONS IN THE E-DISCOVERY SECTOR

[12:17] {ese} what is e discovery

[12:17] {ese} ese discovery

[12:18] {Threei}  poor FAZ

[12:19] {vint} we traded FAZ at 41 yesterday,,now 32.7

[12:19] {vinod} it hit 52 wk low

[12:19] {Threei}  and interestingly enough, I've no slightest desire to touch it here

[12:20] {vinod} it may reach fas price

[12:23] {nemo} BAC break .01 if holds .90?

[12:24] {Threei}  yup

[12:25] {Threei}  so, let's see

[12:25] {Threei}  there is an insert in the bonus regulation that allowed these payments,

[12:25] {nemo} ivalamidated

[12:25] {Threei}  and no one in the senate admits they inserted it

[12:25] {Threei}  no one knows how it got there

[12:25] {nemo} I thought it was Dodd?

[12:26] {Threei}  he says no

[12:26] {Threei}  frank says no

[12:26] {Threei}  when I get my car insurance, I put my initials next to each correction,

[12:26] {Threei}  each number that is not in standard form

[12:27] {Threei}  how about lawmakers do the same?

[12:27] {Threei}  validate what they sign?

[12:27] {Threei}  what a mess...

[12:29] {nemo} lawmakers are the ultimate irresponsible criminals

[12:35] {Threei}  hey!!!

[12:35] {Threei}  who didn't we see today yet?

[12:36] {Threei}  comeon, it's an easy question

[12:36] {nemo} prez

[12:36] {Threei}  A+

[12:36] {nemo} what i win?

[12:36] {Threei}  door prize to be determined yet

[12:37] {nemo} Well, my days as a door man, the prize was usually a close-up of the asphalt

[12:37] {Threei}  oh great

[12:37] {Threei}  he says AIG presented such an enormous danger for the system

[12:38] {Threei}  and I thought it was uncotrolled credit expansion... overextended leverage...

[12:40] {Threei}  "why were they making so much money at all? that entire culture has to change"

[12:40] {Threei}  stop the planet, I want to get off

[12:41] {Threei}  Antarctic is the last place I can immigrate to, and I hate cold

[12:41] {nemo} no broadband

[12:41] {Threei}  good

[12:42] {nemo} get a pet penguin

[12:42] {Threei}  (US) PRESIDENT OBAMA: WORKING ON PLAN FOR A "RESOLUTION AUTHORITY" WITH AUTHORITY OVER "ALL FINANCIAL INSTITUTIONS" SIMILAR TO THE FDIC TO PROTECT CREDITORS, DEPOSITORS AND CONSUMERS TO "PREVENT ANOTHER AIG"

[12:42] {Threei}  - Note that Federal regulators on Tuesday extended by four months a temporary rescue program guaranteeing hundreds of billions of dollars in U.S. banks' debt, saying it has boosted banks' funding but the money flow in the financial markets still hasn't regained normal levels

[12:43] {dino}  he has created about 100 new authorities/committees

[12:43] {Threei}  and doesn't seem to be slowing down

[12:44] {dino} govt getting much bigger and markets getting regulated to death

[12:45] {nemo} http://cnsnews.com/public/content/article.aspx?RsrcID=45206

[12:45] {nemo} the first test of breaking Posse Comitatus...nobody knows who asked them to come?

[12:46] {Threei}  nobody's working harder than Tim

[12:46] {Threei}  ummm... good job brownie?

[12:52] {Threei}  - reiterates bubble and bust economic model can not continue; business model of creating paper wealth can not be the model going forward; must seek to create long term growth.

[12:52] {Threei}  - Remarks that the decision to bailout AIG was correct at the time{XLF

[12:52] {Threei}  bubble and bust economic model can not continue - this sounds to me like attemot to cancel day and night

[12:53] {Threei}  no night anymore... it's day all the time

[12:56] {nemo} FAS doesn't want to give up 6

[12:57] {Threei}  mama mia

[12:57] {Threei}  I just got spam e-mail telling me how to get some of bailout money

[12:57] {nemo} como se va?

[12:57] {Threei}  US MAY CONSIDER EXPANSION OF TALF PROGRAM TO INCLUDE DISTRESSED ASSETS

[12:59] {Threei}  COULD USE PUBLIC/PRIVATE PROGRAM TO BUY TOXIC ASSET

[12:59] {Threei}  - Could also expand role of FDIC{

[13:00] {Threei}  scammers are so incredibly invwentive

[13:00] {nemo} is that like invwesting

[13:00] {Threei}  kind ofvw, yes

[13:04] {Threei}  BAC is attacking 7 for so long

[13:04] {Threei}  still worth wastching for break, IMO

[13:04] {Threei}  as long as it has decent stop size

[13:04] {nemo} I only have 2 eyes, unfortunately

[13:04] {nemo} .85 stop?

[13:05] {Threei}  so far, .90 support of the last pullback

[13:05] {Threei}  .95 even but that's a bit extreme

[13:06] {nemo} you think if it brakes 7 somebody might try to slam stops?

[13:06] {Threei}  no idea

[13:06] {Threei}  this is not a stock where anyone can do that

[13:06] {Threei}  look at the volume and thickness

[13:06] {nemo} yes

[13:07] {nemo} What $ value would you have to spend in stock to do it?

[13:08] {Threei}  take some average 10 cents move, add volume for the time it ook

[13:08] {Threei}  multiply by the price

[13:08] {nemo} $30 million

[13:09] {nemo} give or take

[13:09] {Threei}  sound too little to me

[13:10] {nemo} if I were to put in a sell at 6.00, would it be taken right away?

[13:10] {Threei}  huh?

[13:10] {Threei}  I don't understand

[13:10] {nemo} If I were to short BAC right now at 6.90 while it's at .97, would the order be taken right away?

[13:11] {Threei}  if entered as direct sell, yes

[13:11] {Threei}  if you want it to be a 6.90 you need to enter it as stop

[13:11] {nemo} o.k.  thanks

[13:11] {Threei}  through OMS module

[13:13] {nemo} So, everyboy and his uncle is waiting for BAC to break 7, does that make it a dangerous buy?

[13:14] {nemo} everybody

[13:15] {Threei}  OK... on average, moving this stock by 10 cents requires about 190 million dollars

[13:15] {Threei}  good luck with that

[13:15] {nemo} let me get out my checkbook

[13:19] {Threei}  over 1:1 with stop under .95

[13:20] {Threei}  quick and nice scalp type I

[13:20] {dino} v stopped -.40 sm

[13:21] {jmb} Thanks Vad

[13:21] {Threei}  welcome

[13:22] {Threei}  over 1:1 with stop under .90

[13:27] {Threei}  Liddy being grilled

[13:31] {dino} nue sm l .00

[13:42] {magoo} vadddddddddddddd

[13:42] {Threei}  ?

[13:42] {magoo} need some dough

[13:42] {Threei}  sheesh

[13:42] {Threei}  you are just insatiable, aren't you

[13:42] {magoo} took stt long .30

[13:43] {i2romantis} wow, what a volume

[13:44] {dino} mrx stop to .31

[13:44] {Threei}  don't tell me we didn't perform today mags

[13:44] {dino} v big old rinse

[13:44] {magoo} no u did GREAT...i just want MOREEEEEEEE

[13:44] {Threei}  I think I was the only one in this universe who nailed exact moment of new rally starting

[13:45] {vint} Vad- yr thoughts on RIMM

[13:45] {Threei}  PREVIEW: FOMC RATE DECISION DUE OUT AT AROUND 2:15PMET

[13:45] {Threei}  **consensus expectation is for the rate to remain at 0.25%.

[13:45] {Threei}  **Expectations on today's FOMC statement vary widely, from no change to speculation the Fed could make specific announcements about new actions ranging from buying Treasury securities to adopting explicit inflation targeting. The most likely outcome is that the FOMC will continue to hold off on any major changes in its statement today as it continues to discuss and review alternative actions and assesses the impacts of the government's TARP and stimulus packages, the newly launched TALF program, and observes the effects of the quantitative easing being undertaken in the UK.

[13:45] {Threei}  we are too close to FOMC vint

[13:45] {dino} to .35

[13:45] {vint} THX

[13:46] {dino} to .45

[13:46] {Threei}  I wouldn't take any new positions now

[13:47] {dino} chicken

[13:47] {Threei}  clukc clukc cluck

[13:47] {nemo} discretion is the better part of valor you MICK!

[13:48] {dino} out mrx .49, +.30

[13:48] {dino} lol nemoooooooooo

[13:49] {nemo} O

[13:49] {nemo} I'm a guinea/mick  worst of both worlds

[13:49] {dino} need a soda, spicy beef jerky

[13:49] {Threei}  out of beer?

[13:49] {nemo} Parma Prosciutto and a pint of Guiness

[13:50] {dino} mmmmm

[13:51] {Threei}  Liddy says there is an exit strategy

[13:51] {Threei}  well... I'll be amazed if they pull it off

[13:51] {nemo} yeah...currency default

[13:51] {dino} for him there is, golden parachute

[13:51] {cosmo} back ... G. Gorgon Liddy?

[13:51] {Threei}  well, he uis retired

[13:52] {cosmo} gordon

[13:54] {dino} you see the change iunder this administration, they talk too much...under bush, he would just tell cheney to take liddy hunting

[13:54] {Threei}  lol

[13:54] {dino} problem solved

[13:54] {Threei}  his predecessor then

[13:54] {nemo} He's not that good a shot

[13:54] {Threei}  not Liddy

[13:55] {nemo} somethin' tells me G. Gordon would have got the better of him

[13:55] {dino} out nue .33, +.33

[13:55] {Threei}  guy came out of retirement by govt's request to work for $1 a year and help clean up the mess

[13:56] {Threei}  if I were him I would refuse even to come to senate hearing

[13:57] {dino} well that explains it, what do you expect if you don't pay the guy

[13:58] {cosmo} oh ...THAT guy .....TARPgate this time

[13:59] {cosmo} .... he's done

[13:59] {Threei}  wow

[13:59] {Threei}  listenng?

[14:00] {cosmo} negligence need not be prooved

[14:01] {dino} kangaroo court

[14:01] {Threei}  Liddy read aloud death threats, as exp,lanation why he is hesitant to give names of bonus receipients

[14:02] {cosmo} kangaroos better watch their backs

[14:02] {Threei}  with all the rage pumped by all the levels of pliticians starting with president, I will be amazed if no one gets hurt in this story

[14:03] {cosmo} google RTC from the 1980's

[14:03] {cosmo} as a model

[14:04] {dino} they should either charge them with something or drop the act

[14:06] {cosmo} i like this guy's moral intent....sigh

[14:07] {cosmo} and there are others....

[14:10] {fernp} BAC testing 7 again

[14:13] {Threei}  2 min till FOMC

[14:14] {dino} down then up

[14:14] {Threei}  FHFA'S LOCKHART: FNM AND FRE BONUSES 'REASONABLE'

[14:14] {Threei}  - Reminder: Earlier the WSJ reported that FNM was to pay 'large' bonuses to FNM execs

[14:15] {cosmo} such a deal ...50% bonus return?

[14:15] {Threei}  Liddy says AIG is largely done unwinding CDS

[14:16] {Threei}  if market resumes rally, ADBE would be my candidate

[14:16] {dino} bet ya liddy wishes he borrowed from dino now

[14:17] {dino} i may have charged a higher rate, but still....

[14:17] {Threei}  *FOMC LEAVES RATE UNCHANGED AT 0.25%; AS EXPECTED;

[14:17] {dino} out mcd .40, +.40

[14:17] {nemo} adbe just blasted off

[14:17] {Threei}  TO PURCHASE ADDITIONAL $750B MORE OF AGENCY MBS, TO PURCHASE $300B OF LONGER TERM TREAURIES

[14:18] {dino} out tap +.40

[14:19] {Threei}  - To purchase $100B of GSE deb

[14:23] {Threei}  - Notes job losses, declining equity and housing wealth and tight credit conditions have weighed on consumer sentiment and spending; anticipates policy actions to stabilize financial markets and institutions; inflation to remain subdued

[14:23] {cosmo} QQQQ wants 30

[14:23] {magoo} see my 28????

[14:24] {nemo} awful lot of Rhino horns out there

[14:24] {dino} cpla sm l .64

[14:24] {Threei}  anyone managed to get ADBE?

[14:24] {nemo} blew up as you called it

[14:24] {dino} tbt crushed

[14:25] {nemo} dji up 127

[14:26] {dino} t l sm .00 trig

[14:26] {Threei}  (US) US ATTY GENERAL: CONSIDERING TREASURY TOOLS FOR RECOVERING THE AIG BONUSES

[14:27] {dino} tbt, bottom thoughts vad?

[14:27] {dino} 2x short 20 year

[14:27] {wulff} FAS drop

[14:28] {Threei}  no way to catch it in time dino... too wild

[14:28] {dino} missed ,.21 entry

[14:28] {dino} not like this mtg was shocker for bonds

[14:28] {Threei}  feels like more downside

[14:29] {nemo} back to the dramamine

[14:29] {dino} watch tbt then nemo

[14:29] {nemo} ohoh

[14:29] {Threei}  TLT

[14:29] {Threei}  TREASURY CUVE FLATTENS FOLLOWING FOMC STATEMENT

[14:29] {Threei}  - the Fed's decision to purchase $300B in long term treasuries narrows the bechmark spread more than 30 basis points towards 170 basis points

[14:30] {dino} ty

[14:30] {nemo} this all get's so ridiculous...you take this paper...I'll give you that paper

[14:32] {dino} the game the game

[14:34] {cosmo} liddy worse than crammer?

[14:34] {nemo} interesting thought: http://zerohedge.blogspot.com/2009/03/financial-co...

[14:34] {magoo} vad..u got anything?

[14:35] {Threei}  too hectic

[14:35] {Threei}  if AUY drops into 8, would be interesting

[14:35] {Threei}  under would be even better

[14:40] {magoo} STT sick

[14:40] {magoo} hardly pulled back vad

[14:43] {magoo} wheres obama to ruin rally

[14:44] {cosmo} he's glued to the tube

[14:44] {Threei}  FED: TREASURIES PURCHASES TO BEGIN LATE NEXT WEEK

[14:47] {magoo} dam..got bumpped out..now no replay

[14:47] {magoo} vad..post my way earlier 28 call

[14:47] {dino} sm l tbt .20mrx l .48

[14:47] {Threei}  STT pulled back into support

[14:49] {dino} tbt no fill

[14:50] {dino} out cpla .04 +.40

[14:50] {Threei}  if took .50 or so STT, take profit

[14:51] {Threei}  MOODY'S: FED'S DECISION TO BUY TREASURIES OUTRIGHT HAS NO RATINGS IMPLICATIONS

[14:54] {cosmo} that's priceless

[14:55] {dino} mrx stop to .55

[14:56] {dino} to .61

[14:56] {dino} t stop to .10

[14:57] {dino} mrx .63

[14:58] {dino} out mrx .63, +.15

[15:00] {dino} out t .10

[15:01] {dino} anyone trading besides magoo and i?

[15:01] {dino} aqnd me, not i

[15:02] {nemo} good one, takes the object case

[15:03] {dino} ahh mannnnn, sometimes i expect too much

[15:04] {dino} rimm, gild, v not participating

[15:04] {nemo} rimm participated, but everyting seems to be backing off a bit

[15:04] {nemo} BAC holding up

[15:05] {Threei}  yeah, BAC feels like breakout brewing

[15:05] {Threei}  if holding above .25 while market digests pullback

[15:05] {nemo} should go when FAS turns?

[15:05] {nemo} or xlf

[15:05] {Threei}  probably

[15:06] {Threei}  RIMM holding support well

[15:07] {Threei}  if market reverses from here, should be long as long as doesn't lose .50

[15:08] {Threei}  here goes BAC

[15:09] {Threei}  RIMM close enough to support to try

[15:10] {Threei}  on market uptick

[15:10] {magoo} shit..took .65

[15:11] {Threei}  ?

[15:11] {dino} watching qid

[15:12] {nemo} 1/2 out bac 1:1

[15:12] {patience} gold and silver running nicely

[15:12] {magoo} out .43 BAC TY

[15:12] {Threei}  welcome

[15:12] {nemo} ty Lord V

[15:12] {jmb} Thanks Vad BAC

[15:12] {magoo} [15:10] {magoo} shit..took .65

[15:12] {magoo} too high

[15:12] {Threei}  US ADMINISTRATION OFFICIAL: AIMING TO CLOSE REGULATORY GAPS, NEED STRONG INVESTOR AND CONSUMER PROTECTIONS; OBAMA WILL AIM TO REFORM SYSTEMIC RISK TOOLS

[15:12] {Threei}  jmb :)

[15:15] {dptl} have a good evening all

[15:15] {Threei}  take care dp

[15:15] {dino} cya dp

[15:19] {nemo} whoa RIMM

[15:20] {dino} vz s .80

[15:20] {Threei}  who said whwere what?

[15:20] {nemo} network must be down

[15:20] {nemo} or the prez likes PALM

[15:21] {nemo} Holy manure!

[15:22] {nemo} Hey mags, FAZ

[15:22] {Threei}  bounce time

[15:23] {Threei}  RIMM .90 break if holding above .75

[15:23] {dino} cov vz .68, +.12

[15:23] {Threei}  invalidated

[15:23] {nemo} better go to China and catch RIMM on the other side

[15:24] {dino} too soon on vz

[15:24] {nemo} too soon on everything

[15:25] {Threei}  whew... caught .61 - .85, too fast

[15:28] {vinod} miss all the action today-better luck tomorrow

[15:29] {Threei}  yeah, market will be here

[15:29] {Threei}  I promise

[15:29] {nemo} Vad..you runnin' for office?

[15:30] {vinod} my unexped bid for faz at 27 got filled can't believe this 200 share

[15:31] {vinod} bid was there from few days ago

[15:39] {dino}  uthr

[15:40] {dino} sm l .45

[15:50] {Threei}  tough decision here to taker anything overnight or not

[15:50] {Threei}  I think I'll refrain

[15:50] {nemo} would think a consolidation in the morning

[15:50] {Threei}  too much noize

[15:51] {Threei}  if anything, I'd take BAC

[15:51] {Threei}  stronger than FAS

[15:53] {dino} out uthr .81, +.36

[15:54] {dino} thinking that's it

[15:54] {dino} good times

[15:54] {Threei}  my watch says this is it

[15:55] {vinod} see you tomottow

[15:55] {Threei}  take care vinod

[15:55] {Threei}  BAC new high

[15:55] {Threei}  nice strength

[15:55] {dino} l8r vinod

[15:56] {Threei}  financials are the strongest

[15:57] {Threei}  probably will lead tomorrow again

[15:57] {nemo} gold metals, mining strong too

[15:57] {nemo} gold mining that is

[15:57] {Threei}  yeah

[15:57] {Threei}  silver not bad too

[15:58] {nemo} SLW gained 82

[15:58] {Threei}  FAZ 26

[15:58] {nemo} ultra's don't make for investing

[15:58] {dino} decent golf ball tho

[15:59] {Threei}  lol

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all

[15:59] {dino} darn tbt missed it 3 times

[15:59] {Threei}  have a good evening, see you tomorrow for another interesting day

Mar 17 2009

The day felt somewhat disconnected as plays were scattered around in a random fashion, without continuous flow. Most worked out nicely though., including sizeable wins on RIMM, AMZN and FAZ.

Session Time: Tue Mar 17 00:00:00 2009

[07:38] {nemo}  anybody home?

[07:40] {KSystems} morning

[07:40] {KSystems} you rang?

[07:40] {nemo} keine anschluss an diese nummer

[07:40] {KSystems} :)

[07:40] {nemo} oder diesen?

[07:41] {nemo} keiner auch?

[08:10] {Threei}  Good morning

[08:13] {cosmo} not for ENER 

[08:14] {cosmo} ... so far

[08:15] {Threei}  too bad missed the short yesterday

[08:15] {Threei}  kind of hard to chase 2 bucks down

[08:15] {cosmo} yae... next time i have to pay better attention

[08:22] {Threei}  PALM

[08:22] {Threei}  CANACCORD ADAMS REITERATES SELL RATING AND $0 PT

[08:22] {Threei}  0???

[08:23] {Threei}  MEREDITH WHITNEY: REGIONAL BANKS MAY HELP TAKE THE PLACE OF BIG, CENTRALIZED LENDERS; BELIEVES THE "CENTRALIZED LENDING" MODEL IS DEAD

[08:23] {Threei}  {XLF}

[08:29] {Threei}  PRICE TARGET LOWERED TO $21 FROM $35 AT CREDIT SUISSE, MAINTAINS OUTPERFORM RATING

[08:30] {Threei}  FEB PRODUCER PRICE INDEX M/M: 0.1% V 0.4%E;

[08:31] {Threei}  *FEB HOUSING STARTS: 583K V 450KE; BUILDING PERMITS: 547K V 500KE

[08:31] {Threei}  - Prior Housing Starts revised from 466K to 477K

[08:31] {Threei}  - Prior Building Permits revised from 531K to 531K

[08:39] {Threei}  FAS is strengthening

[08:50] {Threei}  ENER

[08:50] {Threei}  RAYMOND JAMES CUTS ENER TO UNDERPERFORM FROM MARKET PERFORM

[08:51] {Threei}  vultures are circling

[08:52] {vinod} good morning

[08:52] {Threei}  vinod :)

[09:01] {nemo} vino :)

[09:01] {nemo} d

[09:02] {Onix} Good morning

[09:02] {fernp} Hello everybody

[09:02] {Threei}  onix, fern :)

[09:02] {magoo} morning

[09:03] {ese} morning

[09:03] {Threei}  magoo, ese :)

[09:04] {cosmo} those vulture are starting to nibble a bit on ENER 

[09:07] {Threei}  mags, crying yet that we haven't shorted ENER yesterday on guidance?

[09:08] {Threei}  [16:01] {Threei} ENER

[09:08] {Threei}  [16:02] {Threei} Q3 GUIDANCE NO LONGER APPLICABLE DUE TO ECONOMIC ENVIRONMENT

[09:08] {cosmo} hmmm

[09:09] {Threei}  market is not too jazzed about housing starts

[09:09] {vint} Good Morning all

[09:09] {Threei}  and we were told the housing is the root of the problem? fix housing and everything would be fine?

[09:09] {Threei}  vint :)

[09:09] {buyemsellem} good morning

[09:09] {Threei}  buyem :)

[09:09] {dino} gm all. it's 3-17

[09:10] {Threei}  dino :)

[09:10] {cosmo} tent sales are way up though...

[09:10] {dino} think all, -317 i have been talking about

[09:11] {dino} ok, i''l tell, my b-day

[09:11] {nemo} I'm not supposed to think Dino

[09:12] {nemo} Italian born on St. Patty's day....oy

[09:12] {dino} irish, i'm a mc

[09:12] {nemo} blasphemy

[09:13] {nemo} I'm 1/2 and 1/2

[09:13] {cosmo} St. Mc?

[09:13] {patience} happy birthday dino   :)

[09:13] {buyemsellem} happy birthday

[09:13] {nemo} so, how far over the hill are you

[09:13] {vint} dino-happy birthday!

[09:14] {dino} thx

[09:14] {tomg} good morning

[09:14] {tomg} happy birthday dino

[09:14] {vinod} Happy BD dino

[09:14] {Threei}  happy birthday dino!

[09:15] {dino} :)

[09:15] {Onix} happy birthday dino :)

[09:15] {Threei}  tom, patience, dawg :)

[09:15] {dptl} good morning....Dino Happy BD :)

[09:16] {Threei}  dp :)

[09:16] {laserdave} Happy Birthday Dino

[09:17] {Threei}  dave :)

[09:17] {magoo} vad, i scalped a lil ENER afterhrs short

[09:18] {magoo} but man, it was 18 then, 5 points later sigh

06[09:18] * magoo slaps laserdave around a bit with a large trout

[09:18] {dino} thx all

[09:19] {Threei}  well... better than I did, mags :)

[09:19] {cosmo} CLNE up

[09:19] {magoo} whats your strategy this morn vad

[09:19] {Threei}  so far, none

[09:20] {magoo} why we got to play this game every morning he he

[09:20] {Threei}  it's too unclear whether we have little pullback, the continuation of upward move

[09:20] {Threei}  or pullback is going to be much deeper

[09:20] {magoo} i men, just your underlying feeling b

[09:21] {ese} happy birthday  from me also dino.........

[09:22] {vinod} dino Try  few pints of green beer

[09:22] {dino} ty and will do

[09:23] {nemo} I remember seeing alot of processed green beer around campus the day after St. Patty's day back in college

[09:28] {Threei}  market staying red after surprizingly good housing starts is not very encouraging for the bulls

[09:29] {Threei}  I don't have clear plays for the opening

[09:29] {nemo} Weren't they primarily condos

[09:29] {ese} ener sure is getting smoked isn't it......any thoughts dino

[09:30] {Threei}  FED ANNOUNCES 2-YR DELAY OF NEW BANK CAPITAL REQUIREMENTS

[09:30] {nemo} huh?

[09:31] {pita} morning all

[09:31] {dino} nue

[09:31] {Threei}  - Efforts to respond to market crisis

[09:31] {Threei}  pita :)

[09:32] {nemo} what's the news on it dino?

[09:32] {nemo} is that nucor?

[09:33] {Threei} Long Setup:  FAS  .92 if stays above .80

[09:33] {magoo} missed

[09:33] {nemo} missed

[09:34] {dino} out esi yesterday swing, 104.45, +3.75

[09:36] {patience} very nice dino

[09:36] {vinod} fas in 4.94

[09:36] {Threei}  FED ANNOUNCES 2-YEAR DELAY OF NEW BANK CAPITAL REQUIREMENTS UNTIL MAR 31ST, 2011

[09:36] {Threei}  - Efforts to respond to market crisis; delay should help firms meet capital requirements

[09:36] {Threei}  - Limits would have burdened financial firms

[09:36] {Threei}  - Firms need to increase overall capital levels

[09:37] {dino} ty patience

[09:40] {pita} FAS?

[09:44] {Threei}  market doesn't get any firm footing

[09:44] {Threei}  not on a hunt for the bottom at the moment

[09:45] {nemo} continuation from yesterday?

[09:48] {Threei} Long Setup:  CAT  .80

[09:48] {Threei}  if stays above .70

[09:48] {dino} uthr sm l .70

[09:48] {dino} risky

[09:49] {Threei}  CAT over 1:1, half out

[09:49] {Threei}  scalpers take profit

[09:50] {Threei}  second half is stopped

[09:51] {ese} L KLAC .82 1/2

[09:52] {ese} glance away to typoe and it shoots up

[09:52] {nemo} you're complaining?

[09:53] {ese} hmmm kinda.....

[09:53] {Threei}  CSUN

[09:53] {Threei}  SIGNS 10 YEAR SOLAR CELL SALES FRAMEWORK AGREEMENT WITH ASOLA

[09:53] {nemo} oy

[09:53] {ese} out KLAC. ..02

[09:53] {ese} +.20

[09:54] {Threei}  - This non-binding framework agreement outlines the potential delivery of up to 480MW of solar cells manufactured by China Sunergy from 2009 to 2018.

[09:54] {Threei}  - Under the Framework Agreement, which remains valid from 2009 until 2018, China Sunergy may supply asola a total of 30MW of silicon cells in 2009, with 50MW thereafter for each remaining year of the 10-year agreeme{TAN}

[09:54] {dino} gj es

[09:54] {ese} tks

[09:54] {dino} nue?

[09:54] {Threei}  FEED...

[09:54] {Threei}  strong follow-up from yesterday

[09:55] {dino} or does it want 30 strike

[09:55] {ese} actually nemo....i shouldn't really type the fill ......because it moves to fast....but thats not fair to the board

[09:55] {ese} more a question of where should the focus be

[09:56] {ese} nice move by klac though

[09:56] {nemo} I understand, got a kick out of it

[09:57] {dino} out uthr .40, +.70

[09:57] {Onix} gj dino

[09:58] {dino} ty

[09:59] {ese} just looked athat dino...nice

[10:00] {Threei} Long Setup:  RIMM  .40 break

[10:00] {Threei}  stop under .25

[10:00] {nemo} missed

[10:00] {magoo} in rimm

[10:00] {dino} :) es

[10:01] {Threei}  GM CEO: REAFFIRMS THAT COMPANY CAN RESTRUCTURE OUTSIDE OF BANKRUPTCY - WSJ

[10:01] {Threei}  FDIC STAFF: RECOMMENDING SURCHARGE ON DEBT GUARANTEES TO LOWER OTHER BANKING FEES

[10:01] {Threei}  half out RIMM

[10:02] {Threei}  stop to .35

[10:04] {dino} obamination on tv

[10:04] {nemo} buy faz

[10:05] {Threei}  not sure

[10:05] {Threei}  market lost sensitivity to his appearances

[10:05] {nemo} sorry...that was tongue in cheek

[10:05] {dino} trades fast, like pulp

[10:05] {nemo} don't understand the analogy

[10:06] {Threei}  seinfield-speal

[10:06] {dino} seinfeld. george gets pulp in his eye; "pulp moves baby"

[10:06] {nemo} sorry, wasn't a focus of mine in the 90's

[10:06] {dino} on every night 10:30

[10:07] {dino} eyes on uthr again

[10:07] {Threei}  wow... blast from the past... BAMM

[10:07] {ese} L URBN 1/2 .40

[10:08] {ese} 3day high

[10:09] {ese} stop .32

[10:09] {dino} nue nice range

[10:09] {ese} changed that ....make that .29

[10:09] {Threei}  US REP FRANK: MAY BEGIN CREATION OF LEGISLATION FOR FINANCIAL REGULATION REFORM IN MAY

[10:12] {Threei}  anyone knows what it is they are sop busy with in March and April?

[10:13] {dino} nue sm l .60 risky

[10:13] {Onix} giving executives more time totake bonusses

[10:13] {dino} quarter ends all i can think of

[10:15] {ese} vad....if you get a chance could you look at urbn.....i know that you play 3 day highs....do you wait until after the breakout and possibly get in on a retracement to support or do you like to play the breakout?

[10:16] {Threei}  mostly breakout in such cases

[10:17] {nemo} good thing you moved that stop ese

[10:18] {ese} ya no kidding

[10:18] {nemo} hair of your chinny chin chin

[10:19] {ese} that one bar hit .30

[10:19] {dino} 30 bars today?

[10:19] {nemo} Dino, is that a technical comment, or your St. Patty's Day routine

[10:20] {dino} about 20 years ago

[10:20] {dino} 30 would kill me today

[10:21] {Threei}  finally RIMM

[10:21] {Threei}  out in full

[10:21] {Threei}  sure took its sweet time for the second half

[10:21] {ese} hey dino

[10:21] {ese} in liverpool last year when we went there on band tour

[10:21] {nemo} Like the joke about Seamus, the guy who died working at the brewery when he drowned in the vat.  Guys went home to tell his wife.  Funny thing, he came up 3 times for air.

[10:21] {ese} there were pub crawls every night

[10:22] {ese} and indeed some people did visit about 30 bar

[10:22] {ese} bars

[10:22] {dino} lol

[10:24] {dino} mcd has not been participating lately

[10:24] {ese} POT Confirms to cut production by additional 1.5M tonnes, brings total curtailments to 3.5M tonnes this year

[10:24] {ese} loade news event......

[10:24] {ese} loaded

[10:25] {vinod} out fas 5.08

[10:25] {Threei}  IMF OFFICIAL: NEW IMF FORECAST WILL PREDICT GLOBAL ECONOMIC CONTRACTION OF 0.6% IN 2009

[10:29] {dino} sm l uthr .50

[10:29] {Threei}  so, which financial insitution is the most hated right now?

[10:29] {dino} imf pretty otimistic

[10:29] {dino} op

[10:29] {ese} AIG

[10:29] {magoo} my personal one lol

[10:29] {Threei}  before answering impulsively "AIG"... look at the stock

[10:30] {ese} what the^%$$#@

[10:31] {nemo} don't you mean #$%%&!

[10:31] {ese} well....keep handin them bonuses out then

[10:31] {ese} yes thanks nemo for that correction

[10:31] {Threei}  uh oh

[10:31] {Threei}  US REGULATORS: INSURERS DO NOT APPEAR 'TOO BIG TOO FAIL'; POSE NO SYSTEMIC RISK

[10:31] {Threei}  {MET PRU}

[10:31] {nemo} short?

[10:32] {Threei}  CAT

[10:32] {Threei}  TO LAYOFF ADDITIONAL 2K WORKERS ACROSS COUNTRY

[10:32] {Threei}  oh really?

[10:32] {Threei}  weren't we told CAT will be ready to rehire if stimulus package passes?

[10:32] {nemo} I thought the ceo said he expected more layoffs

[10:33] {nemo} RIM consolidating ear high?

[10:33] {nemo} near

[10:33] {Threei}  during president's sale job on stimulus

[10:33] {Threei}  he, president, said that, and CAT CEO nodded

[10:33] {dino} also expected infrastructure, not welfare

[10:33] {nemo} Yeah, it was just your standard democratic spending bill with a different title

[10:34] {dino} yes

[10:34] {magoo} vad..u dump balance RIMM?

[10:34] {Threei}  [10:21] {Threei} finally RIMM

[10:34] {Threei}  [10:21] {Threei} out in full

[10:34] {Threei}  [10:21] {Threei} sure took its sweet time for the second half

[10:35] {Threei}  it starts forming 40 break

[10:35] {magoo} i exited .86

[10:35] {Threei}  beat me by two cents

[10:35] {magoo} over 40 if IF mkt resumes

[10:36] {dino} ob?

[10:36] {nemo} heheheh   http://www.fixcnbc.com

[10:37] {magoo} l rimm .82

[10:37] {dino} multifamily starts up 88%, foreclosures to rentals??

[10:37] {magoo} thinkin .15 area

[10:39] {magoo} 1:2

[10:39] {Threei}  NFLX...

[10:39] {Threei}  what is it with this stupid thing

[10:39] {magoo} good movies

[10:39] {Threei}  look at it closing in on 40

[10:41] {Threei}  and 40 break is a aunching pad for it it seems

[10:41] {magoo} out .02 RIMM

[10:41] {Threei}  let's see where it forms support

[10:42] {Threei}  and with market resumption, 40 break becomes a long trigger

[10:42] {nemo} RIMM or NFLX?

[10:42] {Threei}  NFLX

[10:42] {Threei}  half lot

[10:42] {Threei}  volatile

[10:44] {Threei}  AMZN

[10:45] {Threei}  half lot .30 break long

[10:45] {ese} out URBN .65

[10:45] {Threei}  if stays above .15

[10:45] {ese} +.23

[10:45] {nemo} blew right by

[10:45] {dino} uthr stop to .11

[10:45] {ese} howd I do chief....was in too soon maybe?

[10:46] {Threei}  URBN? no, looked just right to me

[10:46] {dino} to .17

[10:46] {Threei}  AMZN hit over 1:1

[10:46] {Threei}  NFLX stop .85

[10:47] {dino} gj es

[10:47] {Threei}  over 1:1 NFLX, half out

[10:47] {dino} to .23

[10:47] {ese} tks

[10:47] {dino} out uthr .21 slipped, +.71

[10:49] {dino} nue stop .99

[10:49] {Threei}  out NFLX balance

[10:50] {dino} out nue .99, +.39

[10:50] {dino} need coffee

[10:51] {dino} tough crowd

[10:51] {Threei}  :)

[10:51] {Threei}  AIG

[10:51] {Threei}  this thing looks like going to break 1 and explode

[10:51] {nemo} is "need coffee" a joke?

[10:51] {Threei}  just like C did

[10:51] {dino} no, i was empty

[10:52] {ese} must be there own trading firm bidding it up.....the rest of the US hates em.....

[10:53] {dino} looking for bagholders

[10:53] {magoo} out nflx here .21 TY boss

[10:53] {Threei}  welcome

[10:54] {ese} i'll bet

[10:54] {magoo} mkt feels to magoo like gonna explode up

[10:54] {magoo} i tend to be long bias thou

[10:56] {Threei}  see this increasing pressure on AIG?

[10:57] {Threei}  if it manages to break 1, I'd say it's poised for a serios move

[11:02] {nemo} feels like lunchtime already

[11:06] {nemo} what chart server Vad, mine are all over the place

[11:06] {Threei}  09:52:03 ADMIN7 --} (All): We're working on the chart issue.

[11:06] {nemo} saw that, just wondering if you had come up w/workaround

[11:07] {Threei}  lol... it's not like I have my personal datafeed

[11:07] {nemo} your a Vader!

[11:08] {nemo} you're

[11:10] {Threei}  the only topic on TV is AIG bounuses

[11:10] {Threei}  financial committee hearing on it

[11:10] {Threei}  what the...

[11:11] {Threei}  send legal guys in, see what can be done

[11:11] {Threei}  stop the hysteria

[11:11] {Threei}  and that fake outrage... "I am chocked by anger"

[11:12] {nemo} They'll keep up the performance as long as the masses are riled

[11:12] {Threei}  I swear next thing we know is someone of AIG staff dies when angry mob stampedes over people

[11:13] {Threei}  and of course it's going to be a mid-level clerk

[11:13] {dino} pullback imo

[11:17] {nemo} FAZ heading for resistance

[11:17] {Threei}  looks worth a try on .20 break

[11:18] {Threei}  needless to say, small shares

[11:18] {nemo} for adrenaline eprived, although been tame today

[11:18] {nemo} deprived

[11:20] {vinod} .20 break means 41.20?

[11:20] {nemo} yes

[11:20] {Threei}  42.20 at the moment

[11:21] {Threei}  went too low for that break to remain a valid play

[11:21] {nemo} at .80?

[11:21] {Threei}  ?

[11:22] {nemo} went too low...what support did it break?

[11:22] {Threei}  42

[11:22] {nemo} ok.

[11:23] {Threei}  and even without pronounced chart support, 40-50 cents from the break level - too far for the break to be in play still

[11:23] {pita} later all - happy hunting

[11:23] {Threei}  take care pita

[11:23] {dino} cya

[11:25] {vinod} look like market going nowhere?

[11:26] {Threei}  so far...

[11:26] {dino} uthr, nue nice pullbacks

[11:26] {Threei}  it's trying to consolidateds near the high, but breakout needs some serious mood change

[11:26] {dino} attitude readjustment week perhaps

[11:27] {nemo} options ex

[11:28] {vinod} faz did go over 42

[11:28] {nemo} adrenaline junky

[11:31] {nemo} stt VA

[11:32] {nemo} VAD

[11:33] {Threei}  NFLX just stays near the high no matter what

[11:34] {Threei}  quite amazing

[11:37] {dino} risky, sm l nue .20

[11:37] {nemo} steel ones there

[11:37] {nemo} pun intended

[11:38] {vinod} sm 1 means small 1k

[11:38] {dino} :)

[11:39] {dino} no, sm=300, hl 500, nothing 1k

[11:39] {dino} v sm=200

[11:39] {vinod} thanks

[11:39] {dino} np, sm gives wide stop, but need bigger win for 1:1

[11:39] {Threei}  DOE'S CHU: US SHOULD IMPOSE CO2 TARIFFS TO PROTECT COMPETITION

[11:39] {Threei}  huh?

[11:40] {dino} protectionism

[11:41] {nemo} RIMM going to test HOD?

[11:42] {Threei}  obviouslt

[11:43] {nemo} in hindsight now

[11:47] {dino} uthr wide range but making higher lows higher highs

[11:47] {dino} waiting at 59.50 area

[11:53] {Threei}  SENATOR WARNER: SUPPORTS GIVING LIFE INSURERS TARP FUNDS

[11:53] {dino} pretty sure we already did

[11:54] {Threei}  and now he supports it

[11:57] {dino} someone just told him he signed on last fall

[11:57] {Threei}  hey, you can't blame a man for taking a little nap

[11:58] {Threei}  US FED WILL BE PROVIDING GUIDANCE WITH REGARDS TO FED LENDING PROGRAMS AND RELATIONSHIP TO FOREIGN WORKERS

[11:58] {Threei}  say what?

[11:58] {dino} another way for protectionism

[11:58] {Threei}  what does Fed have to do with foreign workers?

[11:59] {dino} they are moving the wrong way, imo

[11:59] {Threei}  is Fed running the country now?

[11:59] {Threei}  creates legislation etc?

[12:00] {dino} ahhh corn beef and cabbage on magoo

[12:03] {dino} nue something wrong tighten to .98

[12:05] {magoo} .

[12:05] {Threei}  things stalled

[12:05] {Threei}  uncertainty of last hour or so switrched to total coma

[12:05] {magoo} eatinmg corned beef and cabage

[12:07] {dino} nue stopped -.22

[12:09] {Threei}  prez on TV soon

[12:10] {Threei}  and if my math is right, it's going to be 4th time today

[12:10] {dino} ohhh mannnnnnnnnnnn

[12:13] {Threei}  SENATOR SCHUMER (D): IF AIG DOES NOT RENEGOTIATE BONUSES, CONGRESS WILL ENACT LEGISLATION TO TAKE THE BONUSES BACK

[12:14] {Threei}  ineresting... those contracts what, don't have any performance provisions tied to bonuses?

[12:14] {dino} the other part is, how can they break contracts that were in force

[12:15] {dino} [09:55] {dino} or does it want 30 strike

[12:17] {Threei}  I have to say, this atmosphere reminds me of business times in Soviet Union very much

[12:17] {Threei}  rules changing every day, fear in the air, authorities not bound by any law

[12:17] {nemo} Tanks should start rolling any time now

[12:17] {dino} breaking contracts on a whim, because of sound bites

[12:22] {Threei}  WHITE HOUSE ADVISOR SUMMERS: WILL NOT FORCE AIG TO BREAK CONTRACTS, WILL "BE CREATIVE" TO RECOUP SPENDING - CNBC INTERVIEW

[12:23] {nemo} mug them as they come out of their offices?

[12:23] {Threei}  that's creative

[12:23] {nemo} question or statement?

[12:24] {dino} cedc l .48

[12:24] {dino} tax them

[12:26] {Threei}  - Has learned in the few months of the new administration that the magnitude of the damage done to the economy was more than anyone had estimated.

[12:26] {Threei}  - Sees no tax increases this year or next year

[12:27] {Threei}  NFLX

[12:27] {Threei}  long if breaks that big offer at .59

[12:30] {Threei}  AMZN

[12:30] {Threei}  DISCOVERY COMMUNICATIONS FILES PATENT SUIT OVER KINDLE EBOOK READER

[12:30] {Threei}  - DISCA alleges that Amazon's Kindle products infringe on its US patent{DISCA}

[12:38] {Threei}  FAS started making new highs

[12:38] {Threei}  tough read for me

[12:40] {dptl} are you in nflx Vad?

[12:40] {Threei}  yeah

[12:41] {dptl} where is your stop?

[12:41] {Threei}  under .40

[12:41] {dptl} ty

[12:43] {Threei}  would expect it to break already

[12:43] {Threei}  too apathetic

[12:44] {Threei}  moving stop to under .50

[12:46] {Threei}  this market move is really strange

[12:46] {Threei}  I mean, what is following it?

[12:46] {Threei}  see any stocks hitting new highs?

[12:47] {Onix} oil stocks chk, hal

[12:47] {Onix} vlo

[12:47] {Threei}  they are not on NASDAQ

[12:48] {Onix} uaua?

[12:48] {Onix} msft?

[12:48] {Threei}  oh... yes :)

[12:49] {Threei}  DRYS too...

[12:54] {dino} cedc stop to .59

[12:57] {dino} to .61

[12:57] {dino} stingy mode

[12:58] {Threei}  sheesh NFLX

[12:58] {Threei}  are you coming or going

[12:59] {dino} walk it up .64

[12:59] {Threei}  really stigny dino :)

[12:59] {Threei}  stingy

[13:00] {dino} to .66

[13:00] {Threei}  new record number of cruise ships in Victoria this year

[13:00] {Threei}  what recession?

[13:01] {Threei}  AIG

[13:01] {Threei}  US REP FRANK: TIME FOR GOVT TO ASSERT OWNERSHIP RIGHTS OF COMPANY, REGARDLESS OF ISSUE

[13:02] {dino} out cedc .68, +.20

[13:02] {Threei}  wtg

[13:02] {dino} ty

06[13:05] * Threei kicks NFLX in the rear

[13:06] {Threei}  AAPL 50K COMPANIES CURRENTLY IN IPHONE PROGRAMS - APPLE EVENT

[13:06] {Threei}  50K?

[13:07] {Threei}  sounds like without IPhone economy is dead

[13:12] {Threei}  01:09pm [SIRI] Ticks higher on rumor of partnership with Apple

[13:14] {Threei}  I think I confused the sides on NFLX... kicked wrong one

[13:14] {magoo} vad, hows your charts?

[13:14] {magoo} mine jnk

[13:15] {Threei}  yeah, some of them are not fixed yet

[13:16] {Threei}  FAS

[13:16] {Threei}  sudden enthusiasm

[13:16] {Threei}  DOE'S CHU: LOAN GUARANTEES ARE BEGINNING TO BE RELEASED

[13:19] {nemo} fees going up on the NAS

[13:19] {Threei}  in case financials decide to rally, let's see where WFC support is

[13:19] {Threei}  for possible 14 break

[13:20] {vinod} going higher with low volume and way over brought?

[13:21] {Threei}  I am not guessing on direction

[13:21] {Threei}  I am structuring plays for different scenarios

[13:22] {Threei}  overbought and oversold - both are in the eye of the beholder

[13:22] {nemo} beauty vad

[13:22] {Threei}  one can argue that FAS from 55 to 5 is way oversold

[13:23] {Threei}  at it was at 55 just in December

[13:24] {vinod} i will change my way of looking

[13:26] {elepet} are you in wfc?

[13:26] {Threei}  yes

[13:26] {nemo} where?

[13:26] {Threei}  [13:19] {Threei} for possible 14 break

[13:26] {Threei}  bottomed out around .90

[13:27] {magoo} in vad

[13:27] {Threei}  in retrospect, aggressive entry was better on it,

[13:27] {Threei}  it gave delay when market spiked

[13:27] {Threei}  I slept through it though

[13:28] {magoo} i was out there .09..but no fill exit

[13:28] {magoo} anbd 09 print

[13:28] {Threei}  NATIONWIDE CEO: GOVT SUPPORTED BANKS CREATING DISTORTION IN MARKET

[13:28] {Threei}  I'll say

[13:29] {Threei}  11 AIG executives leave company

[13:29] {Threei}  so now we will know how valuable they really are

[13:30] {cosmo} they're just mad because there's no bonus

[13:30] {Threei}  I assume they just want to take their money and run

[13:31] {cosmo} to where

[13:31] {Threei}  retirement?

[13:32] {Threei}  there is just no upside for them to stay

[13:33] {cosmo} on the mainland...yes

[13:34] {Threei}  WHITE HOUSE OFFICIAL: BOOSTING CO2 CAP AND TRADE REVENUE ESTIMATES

[13:34] {Threei}  heh

[13:34] {Threei}  another disaster in the making

[13:34] {cosmo} CO2?

[13:34] {Threei}  cap and trade

[13:35] {nemo} Let's throw a huge tax on a crippled economy...cool

[13:35] {Threei}  on everything and everyone

[13:36] {cosmo} CO2 is a nutrient; we would not be here without it

[13:36] {Threei}  and in doing that, let's kill motivation for alternative sources of energy to seek ways to become cheaper

[13:36] {cosmo} oh

[13:37] {cosmo} but thats suposed to be the boobie prize

[13:40] {Threei}  a bit about unintended consequences:

[13:40] {Threei}  Wells Fargo Chairman Dick Kovacevich resisted taking $25 billion in a federal direct-investment under the Troubled Asset Relief Program.

[13:40] {dino}  going to raise our utility bills big time

[13:40] {Threei}  Kovacevich said that requiring Wells to take the TARP money shut the bank out of the private capital markets. As a result, the bank had to slash its dividend to build up capital as part of its efforts to eventually repay the TARP investment.

[13:40] {cosmo} ?  ....so, we pay a CO2 tax on solar ?

[13:41] {dino} any fossil fuel burning utility must pay, they have all said they will pass the cost along to end users

[13:42] {dino} most utilities are coal fired, then gas

[13:42] {Threei}  Kovacevich, unlike many of his rivals in recent weeks, was vocal in his criticism of the TARP program.

[13:42] {Threei}  Is this America, where you do what the government asks you to do and then retroactively youre told to do more? he asked to applause from his audience.

[13:42] {Threei}  it's not just utilies dino... t's dgoing to be literally everything

[13:42] {Threei}  no good or services are produced without energy

[13:42] {Threei}  goods

[13:42] {dino} it's a huge hidden tax on everybody that lives here

[13:43] {dino} utilities are estimating 30% hiles

[13:43] {dino} hikes

[13:44] {cosmo} then there's the estimated lifetime CO2 Cumulative Exhalation tax ....for the newborn

[13:45] {dino} lol

[13:46] {dino} and of course to ease the cost of his heathcare poposal, no choice, govt decides what you need, thus shortening your life, which saves medicare/caid $ as well as social security.

[13:47] {Threei}  yeah, ask Canada how that's working out

[13:47] {dino} memories of "logans' run"

[13:47] {cosmo} and there's less CO2 too

[13:47] {nemo} did you go to carousel

[13:47] {dino} cosmo, we have solved the social security, medical, and co2 problem in 5 minutes

[13:48] {elepet} are you still in wfc?

[13:48] {Threei}  .90 was support

[13:48] {Threei}  got broken

[13:48] {Threei}  stop taken

[13:48] {nemo} a "nyet" works also :)

06[13:48] * nemo slaps nemo around a bit with a large trout

06[13:49] * nemo fratricide again

[13:49] {Threei}  dino... one more problem you guys forgot

[13:49] {Threei}  cows

[13:49] {Threei}  they belch

[13:49] {nemo} fart too

[13:49] {Threei}  that's a lot of CO2

[13:49] {nemo} piss poop

[13:49] {cosmo} at both ends too

[13:49] {nemo} eat

[13:49] {nemo} drink

[13:49] {nemo} make noise

[13:50] {nemo} look at all those things they can tax

[13:50] {cosmo} cattle diapers gonna be big

[13:50] {nemo} I ain't puttin' em on

[13:50] {dino} eat meat, die younger, see it is very simple

[13:51] {Threei}  this starts looking like the beginning of reversal similar to yreesterday's

[13:51] {nemo} which means...it won't be?

[13:51] {dino} contra hour so.......

[13:51] {Threei} Short Setup: CAT  .25

[13:51] {Threei}  if stays below .35

[13:51] {dino} thinking qid

[13:52] {Threei}  FAZ looks attractive too

[13:52] {dino} ok sm l qid .20

[13:53] {Threei}  .20 break, small shares

[13:54] {cosmo} FEED?

[13:55] {cosmo} testing 2.25

[13:57] {Threei}  FAZ goes over 41

[13:58] {vinod} in FAZ  40.20

[13:58] {dino} out .50 qid +.30

[13:59] {Threei}  volatility is tough to handle on FAZ

[13:59] {vinod} out 40.60 1K

[13:59] {dino} gj

[14:00] {dino} yeah, on faz, us old guys get confused

[14:02] {nemo} wfc building a ascending triangle

[14:03] {Threei}  ?

[14:03] {Threei}  I don't see it

[14:04] {Threei}  BAC

[14:04] {Threei}  MOODY'S PLACES FINANCIAL PRODUCTS DIVISION RATINGS ON REVIEW FOR POSSIBLE DOWNGRADE

[14:04] {magoo} out 41 TY

[14:04] {Threei}  here is my 41 on FAZ

[14:04] {magoo} [14:04] {magoo} out 41 TY

06[14:04] * Threei slaps magoo around a bit with a large roll of cash

[14:05] {vinod} i got out too soon

[14:05] {Threei}  that was decent scalp

[14:06] {Threei}  if you feel larger trneding move is coming, partial out

[14:06] {vinod} i am little scare with it

[14:06] {Threei}  trail stop and let it trade

[14:06] {vinod} o.k

[14:06] {Threei}  no wonder, this IS a scary stock

[14:06] {magoo} i not afraid he he

[14:07] {magoo} famous last words

[14:07] {Threei}  lol

[14:07] {vinod} you guys are pro

[14:07] {Threei}  I think we spotted market trend reversal just in time for the right play

[14:09] {dino} live by the sword.....

[14:19] {Threei}  FEED is impossible to read technically... momo play

[14:20] {magoo} rimm powered up

[14:20] {nemo} yeah

[14:21] {dino} re:feed, use the coin rule

[14:22] {Threei}  AMZN lost its mind

[14:23] {_skylan8} any thoughts up or down in to close

[14:23] {Threei}  really can't tell today

[14:24] {Threei}  every turn is good for like 5 minutes

[14:26] {cosmo} feed salmon i say

[14:26] {Threei}  is it farmed salmon?

[14:27] {cosmo} sorry ...its the regs.

[14:27] {Threei}  MS

[14:27] {Threei}  US SENATOR MENENDEZ: ASKING TREASURY DEPT TO STOP $3B IN RETENTION BONUSES AT THE COMAPNY

[14:28] {Threei}  new big thing eh?

[14:28] {dawg} do you feel like CAT is still a short on break of .25 VAD? 

[14:28] {Threei}  no

[14:29] {dawg} OK ty

[14:29] {Threei}  it may work of course if market drops

[14:29] {Threei}  but that's not a setup I'd play

[14:29] {dawg} staying away then ty

[14:29] {nemo} what's wrong with the setup, it's relationship to the market today?

[14:30] {Threei}  there is no setup at all

[14:30] {cosmo} .....but there are no bonuses to even retrive when they run away like that

[14:30] {Threei}  look at its chart...

[14:30] {dptl} have a good evening all

[14:30] {Threei}  there is just plain drop with market, no trigger, no resistance, no consolidation

[14:30] {Threei}  take care dp

[14:31] {dino} l8r dp

[14:31] {dino} skyfan, i'll bet down -40s

[14:32] {Threei}  more and more looks like down, I agree

[14:32] {_skylan8} ok will see

[14:33] {dino} a beer on it

[14:33] {dino} if wrong, magoo will drink it for you

[14:34] {vinod} vad-when i am going to get all books, soon?

[14:35] {Threei}  they are shipped

[14:35] {vinod} thanks now i am going to be a pro

[14:35] {Threei}  takes 5-10 business days

[14:35] {nemo} Vinod, we live in the same state...it took a little while

[14:36] {vinod} we should get together for a drink nemo

[14:36] {nemo} I'll always get together for a drink

[14:37] {vinod} by the way i know zero about chart reading

[14:37] {nemo} arguably, the same goes for me

[14:37] {dino} don't worry as vad said 5-10 days you will be a pro

[14:37] {Threei}  umm

[14:37] {Threei}  lol

[14:37] {nemo} guaranteed!

[14:37] {dino} 14:35] {vinod} thanks now i am going to be a pro

[14:37] {dino} [14:35] {Threei}  takes 5-10 business days

[14:38] {cosmo} astrology?

[14:38] {Threei}  I meant delivery times of course... but that was funny dino

[14:38] {dino} :)

[14:38] {nemo} dino and his blarney

[14:39] {dino} trying to distract myself from ruining a good day

[14:43] {Threei}  see, 10 minutes and now it looks like up

[14:43] {Threei}  lol

[14:43] {nemo} damn market manipulators...

[14:44] {magoo} beer???? beer??

[14:44] {Threei}  that's some headline:

[14:44] {Threei}  AAPL

[14:44] {Threei}  "NOTHING TO ANNOUNCE TODAY" REGARDING NETBOOK OR NEW IPHONE HARDWARE

[14:45] {magoo} [14:44] {&Threei}  that's some headline:

[14:45] {magoo} roflol

[14:50] {Threei}  AMZN is bumping on day's high

[14:50] {Threei}  .75 break long

[14:50] {Threei}  if stays bove .80

[14:50] {Threei}  .60

[14:51] {dino} feels like the elephants are chasing performance

[14:52] {nemo} why .60 Vad ma in Bollinger band?

[14:53] {dino} hod's

[14:53] {Threei}  over 1:1 in a hurry

[14:53] {nemo} missed it while typing to you...ahhhh

[14:53] {Threei}  man... your prioritiees

[14:53] {vinod} missed it

[14:53] {Threei}  stock is moving toward the trigger, and tyou are asking a question that can wait until it's over :)

[14:54] {jmb} Thanks Vad

[14:54] {Threei}  :)

[14:54] {Threei}  stock retreated a few times after probing above .7o, held above .64-.65 ech time,

[14:55] {Threei}  mid line of BBs came into .60,

[14:55] {Threei}  big offer appeared at .75

[14:55] {Threei}  jujst what I like to see for a break

[14:55] {nemo} ty

[14:55] {Threei}  clean setup

[14:58] {Threei}  MS

[14:58] {Threei}  RETENTION PROGRAM FOR BROKERS IN JV WITH CITIGROUP IS 'NOT A BONUS'

[14:58] {Threei}  frikin circus

[14:59] {Threei}  who country stopped worrying about realk issues and focused on bounuses

[14:59] {Threei}  who = whole

[15:01] {dino} keep this up i'll be moving to canada

[15:01] {Threei}  you may want to rethink that

[15:01] {Threei}  we are so left of centre, you have kong way to go to catch up with us

[15:02] {Threei}  although you make giant steps

[15:02] {dino} lol

[15:02] {dino} then jamaica it is

[15:02] {Threei}  yeah, at least weather is nicert

[15:03] {Threei}  and cheap rum

[15:03] {dino} cheap everything

[15:04] {Threei}  find nice quiet 3rd world country with functioning banking system and internet, and you are golden

[15:04] {Threei}  tradem make 30 bucks a day

[15:04] {Threei}  be a rich man {G}

[15:05] {Threei}  and if you make 150/day...

[15:05] {Threei}  RETENTION PROGRAM FOR BROKERS IN JV WITH CITIGROUP IS 'NOT A BONUS'; AWARDS ARE NECESSARY DUE TO 'POACHING' BY RIVALS

[15:05] {Threei}  - Notes that the costs of such retention payments are covered by operating revenue and not TARP capital{C XLF GS}

[15:06] {cosmo} but not by any kind of 'moral imparative' ....right?

[15:07] {cosmo} k....i'll get a grip

[15:07] {nemo} well, wouldn't operating revenue need to go to capital if they didn't have the tarp?  what BS

[15:08] {Threei} Long Setup:  RIMM  .10 if holding above 41

[15:09] {nemo} too fast today

[15:09] {Threei}  BAC CEO: REITERATES 2009 WILL BE PROFITABLE - NEWSPAPER INTERVIEW

[15:09] {dino} lphi l .69

[15:11] {nemo} buy back in here Va?

[15:11] {nemo} Vad?

[15:12] {dino} thats the problem nemo, the big guys forgot accounting 101

[15:12] {Threei}  hmmm

[15:13] {Threei}  ys RIMM{ same condition

[15:13] {Threei}  yes

[15:15] {nemo} stopped or no printed below 41?

[15:15] {Threei}  ?

[15:15] {Threei}  it never set up

[15:15] {Threei}  and by going under 41 it invalidated

[15:15] {dino} lphi stop to .83

[15:16] {dino} to .86

[15:16] {nemo} I see, completely new set up after the first triggered?

[15:16] {Threei}  if makes couple more moves between

[15:16] {dino} to .89

[15:16] {Threei}  41 aND 41.10, WILL BE NEW SETUP AGAIN

[15:16] {Threei}  oops

[15:16] {dino} out slipped ave .86, +.17

[15:16] {Threei}  that's what I meant when said "same condition"

[15:17] {nemo} yes, understand.  You were in got stopped out, because I didn't get in reset the trade

[15:17] {Threei}  huh?

[15:17] {Threei}  I am totally lost

[15:18] {nemo} we'll skip it

[15:18] {Threei}  first trigger worked as it went over 1:1

[15:18] {nemo} Yes, I missed it.  

[15:19] {nemo} It came back below .10 I asked if could buy then

[15:19] {nemo} I thought from what you typed, had to set up again

[15:20] {nemo} Anyway...gotta' go

[15:20] {dino} ahhh nemo, you can buy wherever you like as long as you keep your stop

[15:23] {dino} hmmm, new pattern one day down/week

[15:23] {dino} nahhhh

[15:25] {Threei} Long Setup:  RIMM  .20 break if stays above .10

[15:25] {magoo} VADDDDDDDDDDDDDD

[15:25] {Threei}  what??

[15:26] {magoo} i need 200 bux here into bell...get on it please{or u could be lazy and just wire it into my acct :)}

[15:26] {Threei}  sigh

[15:26] {Threei}  why 200?

[15:28] {Threei}  CEO: REITERATES 2009 WILL BE PROFITABLE - NEWSPAPER INTERVIEW

[15:28] {Threei}  sorry. wrong one

[15:28] {Threei}  US HOUSE SPEAKER PELOSI: HOPES TO BRING LEGISLATION ON AIG BONUSES TO FLOOR THIS WEEK

[15:28] {Threei}  yeah, let's do that

[15:28] {Threei}  RIMM setup is valid again

[15:29] {Threei}  and invcalidated again

[15:30] {Threei}  ECB'S WEBER: CONCERNS ABOUT DEFAULTS AMONG EMU MEMBERS ARE UNFOUNDED

[15:30] {Threei}  ok... who's first to default?

[15:34] {dino} yeah that sounds familiar

[15:35] {dino} sounds like california

[15:35] {Threei}  and all the banks that "didn'ty need money and had enough liquidity"

[15:37] {Threei}  listening to these guys on TV,

[15:38] {Threei}  you get total impression that these executives of AIG brought the country to this state

[15:38] {Threei}  nice bait and switch

[15:38] {Threei}  real culprits grab ast the opportunity to find scapegoats

[15:40] {dino} swing, hl rick .95 stop 52 wk low

[15:43] {dino} cedc l .69

[15:43] {Threei}  how's NYSE volume?

[15:44] {Threei}  UPDATE: REP FRANK MAY INTRODUCE BILL TO REVAMP THE GSES - WSJ

[15:44] {Threei}  yup

[15:45] {Threei}  let the one who broke it fix it

[15:45] {dino} indeed

[15:45] {Threei}  just don't wonder what happened when it's not working again

[15:46] {Threei}  US REP SUTTON (D) PROPOSING TO OFFER $5K TO PURCHASE NEW CAR

[15:47] {Threei}  I think I proposed that in November

[15:47] {dino} there's a tax rebate on the sales tax now

[15:48] {Threei}  FEED... if market rally continues, there is not much between here and 4

[15:49] {Threei}  it stages sharp pullbacks sometimes

[15:49] {Threei}  see if we get one for swing trade entry

[15:50] {dino} cedcc stop to flat

[15:52] {dino} to .77

[15:52] {Threei}  quite a come back

[15:52] {Threei}  market, FAS

[15:53] {Threei}  too many people bhuried this rally after Fri pullback

[15:53] {dino} out .77, +.08

[15:53] {dino} thats a rap, got lucky, 8/9

[15:54] {Threei}  sorry, Monday pullback

[15:54] {Onix} gj dino :)

[15:55] {dino} thx

[15:55] {Threei}  feels like tomorrow we are likely to be back in bullish mode, buying pullbacks

[15:55] {Threei}  maybe even breakouts

[15:55] {dino} it is easier that way, imo

[15:56] {patience} triple witching this week

[15:56] {dino} due for a 2% move this week, w/expiration, most likely down

[15:59] {Threei}  FAS ginishes at the high, and actually approaches Mon high

[15:59] {Threei}  bodes well for rally continuation

[15:59] {Threei}  ok guys

[15:59] {Threei}  thank you all

[15:59] {Threei}  have a good evening

[15:59] {Threei}  see you tomorrow

[16:00] {vint} good evening all

[16:00] {patience} hey dino, have fun today with the birthday beer

[16:00] {dino} ty

[16:00] {Threei}  WFC

[16:00] {Threei}  PROVIDES NOTICE OF REMARKETING OF DEBENTURES

[16:00] {Threei}  no idea what it means

[16:00] {dino} bonds

[16:05] {Threei}  ADBE

[16:05] {Threei}  REPORTS Q1 $0.45 V $0.44E, R$786M V $784.1ME

[16:05] {Threei}  - Guides Q2 $0.31-0.38 v $0.35e, R$675-725M v $694.4Me

[16:07] {Threei}  anyone paid atention?

[16:08] {Threei}  easy 50-60 cents

[16:08] {magoo} well...guides lower

[16:08] {Threei}  ?

[16:09] {Threei}  it doesn't

[16:09] {Threei}  guidance range is around esdtimates

[16:09] {magoo}  R$675-725M v $694.4Me

[16:09] {Threei}  how is it lower?

[16:09] {magoo} oh shuit

[16:09] {magoo} AGAIN..sorry

06[16:09] * Threei sends magoo to Reading Comprehension 101

[16:10] {dino} just kick him 3i

[16:11] {Threei}  I thought of it

[16:11] {Threei}  then decided to leave some pleasure for tomorrow

Mar 16 2009

Decent day overall, even though most of financials haven't performed for big part of the day. Some scalps on usual suspects (FAS, BAC etc)  plus decent plays on RIMM and FAZ kept the day profitable.                                                                                                                                                          

Session Time: Mon Mar 16 00:00:00 2009

[08:05] {ese} morning....too many sulfates in the wine last night.....up too early

[08:06] {Threei}  Good morning

[08:06] {nemo} no sulfates in vodka

[08:06] {Threei}  FAS happy buying again

[08:06] {nemo} BAC too

[08:06] {nemo} Happy Monday's scare me

[08:07] {Threei}  BAC is still trading under Fri high

[08:07] {Threei}  FAS is above

[08:07] {ese} morning vad....nemo

[08:07] {Threei}  GE is close to serious resistance at 10

[08:07] {Threei}  ese :)

[08:07] {nemo} Buenos tardes

[08:12] {ese} How bout that....blast from the past DNDN on the pre market screen

[08:12] {Threei}  yeah... they have FDA decision coming

[08:12] {Threei}  don't remember the date

[08:13] {ese} can't remember what they do.....do you recall Vad?

[08:13] {Threei}  drug Provenge

[08:14] {ese} what does it do.....presevre youth

[08:14] {Threei}  that I don't remember

[08:14] {nemo} improves memory :)

[08:15] {Threei}  lol

[08:15] {ese} pretty funny there nemo.......quick thinkin too

[08:16] {nemo} Kinda' lucky...haven't even finished my first cup of coffee...usually have to check my license to remember my name until I finish the second cup.

[08:16] {ese} I'm still long 2 lots of DRYS at .21 from friday....it's lookin good right now

[08:21] {Threei}  GM EXEC: EXPECTS MARCH US SALES TO BE INLINE WITH LEVELS SEEN IN BOTH JAN AND FEB

[08:21] {Threei}  {F}

[08:21] {Threei}  I guess if things stopped deteriorating, it's as good news as we can hope for

[08:25] {Threei}  Brief summary of G20 propsed changes:

[08:26] {Threei}   An enhanced role for the Federal Reserve to monitor and address broad economic risks.

[08:26] {Threei}   Changes to the way banks are overseen to prevent lenders from shopping among regulators for the easiest supervision.

[08:26] {Threei}   More transparency and stricter rules for the way money flows between banks.

[08:26] {Threei}   Tougher capital requirements for big banks.

[08:26] {Threei}   Consolidation of consumer-protection enforcement.

[08:27] {Threei}  first line is beyond the comon ense as it exists in my universe

[08:27] {Threei}  common sense

[08:27] {Threei}  fox guarding the henhouse

[08:27] {Threei}  PIMCO'S EL-ERIAN: MARKET WAS DUE FOR A TECHNICAL BOUNCE IN ACROSS ALL ASSETS, TOO EARLY TO CALL A BOTTOM - CNBC

[08:27] {Threei}  party pooper

[08:30] {Threei}  MAR EMPIRE MANUFACTURING: -38.23 V -30.80E

[08:31] {Threei}  - Prices Paid: -26.7 v -13.79 prior (record low)

[08:31] {Threei}  - New Orders: -44.8 v -30.51 prior (record low)

[08:32] {Threei}  - Employment: -38.20 v -39.08 prio

[08:50] {Threei}  GE consolidation range is 9.85 - .95 so far

[08:50] {Threei}  with .98 being Fri high and 10 natural resistance to break

[08:51] {Threei}  if we get rally continuation, this is candidate for the move similar to one we got on Fri morning

[08:53] {magoo} morning

[08:53] {Threei}  magoo :)

[08:54] {ese} MMMMAAAAAGGGGGSSSSSSS zzzaaaaaahhhhhh....how are ya?

[08:57] {pita} gm everyone

[08:58] {ese} pita...

[09:00] {Threei}  pita :)

[09:06] {Threei}  let's start outlining plan for GE

[09:06] {Threei}  from today's premarket action, 9.85 is support

[09:07] {Threei}  9.95 is resistance, with 10 to break as a signal for continuation

[09:07] {ese} was laughing my brains out on the weekend reading the Darwin Awards.   Story titled "once again golfers prove that testosterone and beer don't mix"  one fellow in the foursome was so loaded that he climbed up on the ball washer and stuck his testicles in it to wash them off......well he promptly fell and tore them right off becoming one of the few Darwin winners to be awarded the top darwin for his category because he was still alive.  couldn't

[09:07] {Threei}  so, if you want aggresive entry, that would be about here with .84 stop

[09:08] {pita} Here, as in pre-mkt?

[09:09] {Threei}  if you like the idea of aggresive entry, with very tight stop, yes

[09:10] {Threei}  yesetrday's close is .61

[09:10] {Threei}  if market is not holding its gap and GE loses .85, that will be next area to watch

[09:11] {Threei}  regular entry would be let it trade for now, then buy 10 break with stop located under the low formed before the break

[09:12] {Threei}  for FAS, .50 is Fri resistance

[09:12] {Threei}  broke it earlier, retreated, held .40

[09:13] {vinod} good Morning to all

[09:13] {Threei}  vinod :)

[09:13] {Threei}  03/16/09 06:56am

[09:13] {Threei}  [FEED] Agfeed Industries Reports FY08 $0.74 v $0.62e (ex items), R $143.7M v $138.0Me (1 est), temporarily suspends stock buyback

[09:13] {Threei}  - AgFeed intends to invest heavily in genetics with a target to support the expanding sow base from 2009''s 31,500 sows to 50,000 sows over the next 24 months.

[09:13] {Threei}  - Company believes that the Chinese markets will once again attain double-digit growth rates. Increasing urbanization and the swift growth of the Chinese middle class, strongly position AgFeed for the expanding Chinese consumer pork market.

[09:13] {Threei}  - No Signficant Deficiency, Material Weakness found In Co''s Internal Control Process

[09:14] {dino} gm all

[09:14] {Threei}  dino :)

[09:14] {cosmo} CVTX pre mkt high = 19.75  fwiw

[09:14] {nemo} dino :)

[09:15] {Onix} Good morning all

[09:15] {Threei}  FEB INDUSTRIAL PRODUCTION: -1.4 % V -1.3%E;

[09:15] {Threei}  onix :)

[09:16] {Threei}  CNBC: GOVT TO RELEASE MORE DETAILS PUBLIC PRIVATE PARTNERSHIP THIS WEEK OR EARLY NEXT WEEK

[09:17] {nemo} "Public Private Partnership"  codeword for advancing socialism

[09:17] {dino} uthr

[09:17] {nemo} there's a gapper

[09:17] {cosmo} what's a public/private relationship look like?

[09:17] {cosmo} ...ah

[09:18] {dino} airbus

[09:18] {nemo} Who knows, there making this up as they go along...won't be good for the plebians

[09:18] {nemo} they're

[09:19] {cosmo} how bout the sirians?

[09:19] {nemo} are you serious

[09:19] {ese} Ithink UTHR will bounce back up dino

[09:20] {cosmo} cvtx

[09:20] {cosmo} tests

[09:21] {nemo} PROVENGE is used in treatment for prostate cancer

[09:21] {dino} me too es, was down 9+ 

[09:23] {Threei}  FASB ALLOWING FIRMS TO EXERCISE MORE JUDGEMENT ON APPLICATION OF MARK TO MARKET ACCOUNTING

[09:24] {Threei}  no idea what it means

[09:24] {nemo} 10,000 shares FAS at market.....just kidding

[09:24] {ese} ya to 56....bit of an over reaction to say the least

[09:24] {Threei}  but FAS is upticking

[09:24] {nemo} yep

[09:25] {Threei}  GE honestly trying

[09:27] {Threei}  FAS is too

[09:28] {ese} QQQQ has been trending down here in pre market...will drag some stuf with it

[09:28] {nemo} spy is starting too also...has a bit of a topping pattern 

[09:29] {dino} uptick and m2 were changed in 1938, in '07 changed back, fwiw

[09:30] {Threei}  if you took that aggressive entry on GE, keep stop under .85 and let it break 10

[09:30] {Threei}  morning volatility may work for us or against

[09:30] {Threei}  so far so good though

[09:31] {Threei}  let's sell half here

[09:31] {Threei}  .13

[09:31] {Threei}  scalpers know what to do

[09:32] {Threei}  let's see now how well both FAS and GE hold this pullback

[09:34] {ese} bstop sm 300 shs UTHR 61

[09:34] {Threei}  for those who took half off, stop .88 for the balance

[09:34] {ese} L

[09:34] {Threei}  for scalpers who took whole profit, 10 break is new entry

[09:35] {Threei}  if holding above .90

[09:36] {ese} should have had that bstop at .05

[09:36] {ese} we'll see

[09:37] {ese} just touched 61 and triggered it 

[09:38] {Threei} Long Setup:  FAS  .56

[09:38] {fernp} Hello everybody

[09:38] {Threei}  stop under .45

[09:38] {Threei}  fern :)

[09:39] {Threei}  scalpers have 1:1 on GE again

[09:39] {Threei}  and FAS

[09:39] {Threei}  half out for day traders

[09:40] {vinod} ge in 10.01

[09:41] {Threei}  unbelieavbly risky call:

[09:41] {Threei}  FEED long .70 break

[09:41] {Threei}  stop under .50

[09:42] {Threei}  for seriously adrenalin deprived only

[09:43] {Threei}  DEBEERS SAYS IT MAY CLOSE DIAMOND MINING JOINT VENTURE IN NAMBIA FOR THREE MONTHS STARTING APRIL 1

[09:43] {Threei}  uh oh... less diamonds on the market... wat to do, what to do...

[09:45] {dino} apol, esi

[09:45] {ese} am still in UTHR dino......I think I should have taken that initial run up

[09:46] {Threei}  FAS stop can be trailed to under .50 for the balance

[09:46] {vint} good morning all

[09:46] {Threei}  vint :)

[09:47] {dino} es, i did not get it, needed coffee

[09:47] {dino} whats your entry

[09:47] {ese} .00

[09:48] {ese} stop is .25

[09:48] {Threei}  GE balance stopped

[09:48] {ese} popping up there again dino

[09:49] {dino} you short?

[09:50] {ese} long

[09:50] {Threei}  market more weakness

[09:50] {ese} sm 300

[09:51] {dino} ahh, the .25 had me, i get it

[09:51] {dino} esi tempting

[09:51] {dino} exp week, watch 5s and 0s imo

[09:51] {ese} don't know what it's doin right now

[09:51] {dino} it's coming to me

[09:52] {Threei} Long Setup:  HIG  .30 break if stays above .20

[09:52] {ese} original patter was readable but not now

[09:52] {ese} pattern

[09:52] {ese} may give something yet

[09:53] {magoo} in'

[09:54] {ese} out UTHR .72

[09:54] {ese} +.72

[09:55] {ese} had enough of it dino

[09:55] {Threei}  HIG over 1:1, scalpers are out, day traders half out and stop to .27

[09:55] {ese} not gonna complain about 210 bills good start to the day

[09:55] {magoo} out .43 TY Boss

[09:55] {Threei}  sure

[09:56] {Threei}  wtg ese

[09:56] {ese} dicy for a bit boss.....almost lost control of it

[09:56] {magoo} mkt seems uncertain here {who could blame it}

[09:56] {dino} gj es

[09:56] {ese} tks

[09:57] {dino} risky wide v sm esi l 0.75

[09:58] {Threei}  morning's good but worked for scalpers better than for holders so far

[09:59] {Threei}  hard to tell what's next, let's wait and see

[09:59] {nemo} wonder if traders aren't sure they're Wile E. Coyote after running off the cliff suspended in mid-air

[09:59] {Threei}  lol

[09:59] {Threei}  my personal feeling is, this hesitation is a trao for bears

[10:00] {nemo} define "trao" please?

[10:00] {dino} pig latin for taco

[10:00] {Threei}  trap typed with strong accent

[10:00] {nemo} thank you  I

[10:00] {nemo} I'm really slow today...probably didn't drink enough last night

[10:00] {Threei}  (or with fat fingers)

[10:01] {dino} missed apol 

[10:01] {dino} was at 64.75

[10:01] {Threei}  pullbacks are supported fairly well

[10:01] {nemo} Yeah GE hit support an bounce

[10:02] {Threei}  so did FAS

[10:02] {Threei}  both started forming new setups

[10:03] {Threei}  GE 10 break again if holding above .90

[10:03] {nemo} nas and spy look like they might be priming also

[10:03] {Threei}  FAS .60 break if holding above .50

[10:04] {ese} L ZION 1/2 .02

[10:04] {ese} on pullback

[10:04] {Threei}  BAC

[10:04] {Threei}  .40 break long

[10:04] {Threei}  stop under .30

[10:06] {dino} uthr pullback

[10:06] {dino} and spike

[10:10] {nemo} wfc vad?

[10:11] {ese} I might go long again dino at .51 uthr

[10:11] {ese} if q's start showing upward momo

[10:12] {Threei}  WFC is obvious long setup on .80 break but gotta let this weakness play out and see the support

[10:12] {Threei}  market is still downtrending

[10:13] {ese} indeed

[10:13] {Threei}  actually, pullback is severe enough on WFC to start hunting for bounce entry

[10:14] {dino} ndx getting hit

[10:14] {ese} ZION stop to break even .02

[10:14] {Threei}  .51 long if holding .45

[10:15] {ese} stopped even ZION

[10:16] {ese} bstop UTHR .51.....it's holding up against dn trending market

[10:17] {dino} apol sm l .05

[10:18] {Threei}  no go WFC

[10:19] {ese} nice dino

[10:19] {dino} ty

[10:19] {dino} waited about 30 min.

[10:19] {ese} L uthr

[10:20] {ese} good wait

[10:20] {dino} cpla, bottomed 48.25ish fri then to 51, watching it again

[10:21] {ese} out UTHR .91 1/2 lot

[10:21] {ese} +.40

[10:25] {dino} gj

[10:27] {ese} tks again

[10:27] {Threei}  why so many prints out of bounds today

[10:28] {dino} out apol .95, +.90

[10:28] {Threei} Long Setup:  RIMM  .65 break if stays above .50

[10:28] {dino} tourny starts today 3i, that is why, march madness

[10:29] {dino} tough crowd, :)

[10:29] {nemo} yeah, all the traders are watching basketball

[10:30] {magoo} in RIMM

[10:31] {Threei}  1:1 RIMM, half out or scalp

[10:32] {Threei}  if taking half, stop to under .60 for the balance

[10:32] {magoo} out RIMM .85 TY

[10:33] {Threei}  welcome

[10:33] {Threei}  over 1:2, feel free to exit in full

[10:34] {Threei}  out .99

[10:35] {Threei}  guys, someone qwith alternative quotre source, do you see also these qierd prints above and below the mnarket?

[10:35] {Threei}  and long tails on one minute chart?

[10:35] {nemo} yes

[10:36] {nemo} They're not in IB

[10:37] {fernp} in esignal there is also prints above and below market

[10:37] {Threei}  ty... seems to be streetwide then

[10:38] {Threei}  AIG, wtf

[10:38] {Threei}  is it those bonuses they give out?

[10:38] {nemo} wow

[10:40] {Threei}  AIG, FRE, FNM... I guess today is a zombie day

[10:41] {Threei}  C too

[10:41] {Threei}  vampires rising, you know

[10:41] {nemo} something must be out that we don't know about yet

[10:41] {nemo} M2M

[10:41] {nemo} has to be it

[10:42] {nemo} well, doesn't have to, but boy do they stand to benefit

[10:51] {Threei}  C... this thing really wants to go

[10:58] {nemo} ge looking like jbe?

[11:00] {ese} am outta here for an hour or so.....see you later.

[11:01] {fernp} by ese

[11:01] {Threei}  take care ese

[11:01] {Threei}  they all do, nemo

[11:02] {nemo} sorry, what?

[11:02] {Threei}  look like JBE

[11:02] {nemo} oh....memory :)

[11:02] {Threei}  yeah... aquiring daytrading memory span (which is akin to one of a moht)? :)

[11:03] {magoo} u like GE here?

[11:03] {nemo} Nah, had that for years

[11:03] {magoo} with mkt help

[11:03] {nemo} needs market I think mags

[11:03] {Threei}  mags, I can't shake off feeling that financials prfepare stron upward move

[11:04] {Threei}  but market doesn't form the bottom yet

[11:04] {magoo} understood

[11:04] {fernp} C is really strong

[11:04] {Threei}  look at FAS... chart is so tempting for .65 break

[11:04] {nemo} I'm hooked on a feelin'  I'm high on believin' that finnies are running freeeeeeeee

[11:04] {magoo} wfc trying

[11:04] {nemo} fas too

[11:05] {Threei}  C is beyond belief

[11:05] {nemo} BAC just broke hod

[11:05] {Threei}  FAS is about to also

[11:06] {nemo} spy moving up nas turnign

[11:06] {Threei}  let's try pullbacks?

[11:07] {Threei}  if we get any

[11:07] {magoo} ALERT ALERT

[11:07] {Threei}  BAC .35 - .40 area

[11:07] {magoo} went restrm..mkts went up

[11:07] {magoo} its a tell

[11:07] {Threei}  lol mags

[11:07] {Threei}  FAS .60 - .65 area

[11:11] {Threei}  as much as I don't like buying breaks on these stocks, we are not getting pullbacks anymore

[11:12] {magoo} mkts trying here

[11:14] {Threei}  FAS, .70 break, will try it if no more pullback

[11:14] {nemo} GE broke but is pulling back

[11:16] {Threei}  C... mama mia

[11:17] {magoo} C..crytinbg

[11:18] {fernp} BAC breaking hod

[11:20] {magoo} [11:13] {magoo} mkts trying here

[11:20] {Threei}  half out FAS .82

[11:21] {dino}  cpla sm l .75

[11:21] {Threei}  scalpers take it off and look for reentry

[11:21] {magoo} out TY

[11:23] {Threei}  thanks to strength of finnies, NASDAQ and NYSE switched places today

[11:23] {dino} lphi sm l .50

[11:23] {fernp} C pulling back

[11:23] {Threei}  C needs serious selloff

[11:24] {Threei}  like 2.20 - 2.30

[11:24] {fernp} ty

[11:24] {Threei}  I can't bring myself to buy it ere

[11:28] {dino} cploa stopped -.42

[11:30] {Threei}  C panic is coming it feels

[11:30] {Threei}  (US) TREASURY: WILL PURCHASE UP TO $15B IN SECURITIES BACKED BY BUSINESS LOANS

[11:34] {Threei}  anyone went for GE break?

[11:35] {Threei}  start partialling out here

[11:36] {Threei}  FAS new high, stop to under .70

[11:36] {magoo} WFC nuts

[11:40] {Threei}  (UK) UK TREASURER DARLING: REACHING AGREEMENT ON FUNDING IMF WILL HAPPEN AT THE G20 MEETING IN APRIL

[11:47] {Threei}  prez on TV

[11:55] {Threei}  C perfect bounce

[11:55] {Threei}  anyone caught it?

[12:01] {Threei}  TREASURY'S GEITHNER: ALLOWING SMALL BUSINESSES TO CARRY BACK OPERATING LOSSES FOR FIVE YEARS VERSUS TWO YEARS PRIOR

[12:03] {Threei}  not sure why there must be some strict limit on that

[12:04] {Threei}  it's not like operating losses dissolve by themselves in 2 years or 5 or whenever

[12:06] {Threei}  FAS pullback seems to be deep enough to start hunting again

[12:06] {magoo} call edntry pl

[12:06] {Threei}  want littrle pullback, holding above .60, then another strong hit on .66

[12:07] {Threei}  ok... .66 long if holding above .60

[12:08] {Threei}  and GEN 10 break

[12:08] {Threei}  if holding above .95

[12:08] {Threei}  GE

[12:10] {magoo} in ge

[12:10] {magoo} in fas'

[12:10] {dino} cpla sm l .20

[12:13] {Threei}  half out FAS

[12:15] {Threei}  stop to .64

[12:17] {pita} got few cents FAS TY - off to day job, gl

[12:17] {Threei}  take care pita

[12:22] {Threei}  Terrific Tim on TV

[12:22] {Threei}  PRESIDENT OBAMA: PURSUING EVERY LEGAL AVENUE TO BLOCK THE AIG BONUSES

[12:24] {magoo} vad..C here bounce?

[12:25] {Threei}  not very clear

[12:28] {Threei}  PRESIDENT OBAMA: PURSUING EVERY LEGAL AVENUE TO BLOCK THE AIG BONUSES, BELIEVES AIG BONUS ISSUE IS ABOUT "FUNDAMENTAL VALUES"

[12:28] {Threei}  - Obama believes the government needs more tools to protect taxpayers and the overall financial system from situations like AIG.

[12:28] {Threei}  - NY AG Cuomo also noted that he is seeking information about which individuals received bonuses at AIG. Cuomo states he plans to issue a subpoena to AIG at 4pmEST

[12:30] {Threei}  GE over 1:1

[12:30] {fernp} out ty

[12:30] {Threei}  welcome

[12:30] {Threei}  FAS out in full

[12:30] {Threei}  .82

[12:33] {magoo} out GE .14 here TY

[12:33] {Threei}  good boy GE

[12:33] {Threei}  :)

[12:37] {magoo} out FAS here .84 TY

[12:37] {Threei}  :)

[12:37] {Threei}  {--- intends to limit hiscomments to smiley faces from now on

[12:37] {Threei}  less room for mistypes

[12:38] {Threei}  and optimisim emanates from those freely

[12:47] {Threei}  GOLDMAN SACHS ECONOMIST O'NEILLL: NOT LIKELY CHINA WILL DUMP US TREASURY SECURITIES - TIMING UNCERTAIN

[12:49] {Threei}  BAC new high

[12:50] {Threei}  PREVIEW: MARCH NAHB HOUSING MARKET INDEX DUE OUT AT 1PMET

[12:50] {Threei}  **consensus expectation: 9e v 9 prior

[12:50] {Threei}  - analyst estimates range between 8 and 11

[13:00] {Threei}  *MARCH NAHB HOUSING MARKET INDEX: 9 V 9E

[13:01] {Threei}  SPOKESPERSON: AIG PLANS TO RESPOND TO NY AG CUOMO'S OFFICE

[13:02] {Threei}  really? wow

[13:02] {Threei}  we thought they wouldn't lower themselves to responding

[13:03] {dino} see what happens when you take govt "help"

[13:05] {magoo} we in anything vad?

[13:05] {Threei}  well... I have to say, it does seem a bit too much when SIG is rescued by taxpayer money yet gives out generous bonuses, using the bailout funds no less, to those same people who run it into the ground

[13:05] {Threei}  no mags

[13:05] {Threei}  sold FAS and GE

[13:06] {dino} i agree 3i, just stating this is why the banks don't want more

[13:06] {Threei}  yeah

[13:06] {Threei}  gotta keep that talent eh

[13:06] {magoo} ok..took exits there

[13:19] {nemo} GE Va

[13:19] {nemo} reak of .30?

[13:19] {nemo} geez.  GE Vad...break of .30?  then again still lunch time

[13:19] {nemo} oops

[13:21] {Threei}  yeah, I'd prefer to hunt for pullbacks

[13:21] {Threei}  at least you get more than 3-5 cents move, and the stop is tighter

[13:22] {nemo} To think or not to think????

[13:22] {Threei}  resounding no

[13:22] {nemo} Yeah, except for what, RIMM, it's basically been scalping

[13:22] {nemo} hurts

[13:22] {Threei}  well, last two plays on GE and FAS offered more than a scalp

[13:23] {Threei}  but mostly thanks to exactly that kind of entry

[13:23] {Threei}  pullbacks, tight stops

[13:23] {Threei}  ECB'S TRICHET: ECB IS IN CLOSE CONTACT WITH OTHER INSTITUTIONS

[13:23] {nemo} yeah...tight stop plays 

[13:23] {Threei}  I hope they don't mean mental ones

[13:24] {nemo} maybe they're swapping spit

[13:24] {nemo} sorry...that even viscerally disgusted me

[13:26] {Threei}  ECB'S TRICHET: EURO IS 'IRREPLACEABLE', IMPORTANT DURING DIFFICULT TIMES

[13:26] {Threei}  why do I find it hard to believe

[13:29] {Threei}  GE pullback into support

[13:31] {Threei}  in .23

[13:32] {Threei}  stop .19 or 16, depending on your trading idea here

[13:32] {magoo} in .24

[13:33] {dawg} in earlier.22 GE

[13:35] {Threei}  lol, with .22 entry you have almost 1:2 here

[13:35] {Threei}  not almost... 1;2

[13:35] {Threei}  beauty of pullback entries

[13:35] {magoo} vad..where u waiting so i can undercut :)

[13:36] {Threei}  {--- not saying

[13:36] {Threei}  scalpers offer .30

[13:36] {magoo} sheesh

[13:36] {magoo} out .33 TY

[13:36] {Threei}  :)

[13:36] {magoo} too many ty today he he

[13:36] {dawg} out .33 ty Vad great bounce call

[13:36] {Threei}  sorry

[13:37] {magoo} goes against every fiber in my being

[13:37] {Threei}  I'll try to make a few losing calls now

[13:37] {magoo} then u get "f'y" lol

[13:37] {Threei}  but that will be in tune with your natural inclinations

[13:37] {magoo} yea...grinn everytime i say it

[13:38] {Threei}  FAS .75 was same entry idea... missed it

[13:39] {magoo} read AAPL vad

[13:39] {Threei}  let's see...

[13:39] {Threei}  A...

[13:39] {Threei}  then A again...

[13:40] {Threei}  then, umm.... hmmm P?

[13:40] {magoo} OY

[13:40] {nemo} he's becoming insufferable

[13:40] {ese} hows everyone doin?

[13:40] {ese} i'm back

[13:40] {ese} everybody filthy stinking rich yet?

[13:40] {Threei}  I am torturing magoo, ese

[13:40] {ese} beauty

[13:41] {magoo} ok..took aapl .35

[13:44] {Threei}  nice spike

[13:45] {magoo} out AAPL

[13:46] {Threei}  BAC wants 7 and above, FAS 6 and above

[13:47] {nemo} pullback to .85 on FAS, now on BAC?

[13:48] {Threei}  market dependent but the general idea is this

[13:48] {Threei}  hard to tell whether we get any more pullbacks...

[13:50] {dino} cpla stop to .15\

[13:50] {dino} out .16, +.96

[13:52] {magoo} keep eye on WFC vad

[13:52] {nemo} here come the eye jokes

[13:54] {nemo} mmhhh..I was going to say, don't like the way FAS was just hanging there

[13:55] {Threei}  it's back into support

[13:55] {nemo} yep

[13:55] {Threei}  watch the market, both FAS and BAC are buyes when market reverses

[13:57] {dino} when?

06[13:58] * magoo slaps laserdave around a bit with a large trout

[13:59] {Threei}  in BAC .74

[13:59] {Threei}  in FAS .76

[14:02] {Threei}  come on things, move already

[14:05] {Threei}  I meant move UP, you two idiots

[14:05] {nemo} what i do?

[14:06] {Threei}  grrr

[14:06] {Threei}  stopped

[14:06] {nemo} stoppe

[14:07] {dawg} stopped

[14:11] {laserdave} laserdave smacks magoo with a skinny trout

06[14:12] * magoo slaps laserdave around a bit with a large trout

[14:12] {magoo} vad??

[14:12] {Threei}  hmm?

[14:13] {magoo} slap dave?

[14:13] {Threei}  nah... I am trying to mature beyond pillow fights

[14:13] {nemo} dueling pistols

[14:18] {Threei}  still feels to me like up is the way to go but finding entries here is not easy

[14:19] {nemo} in fas .72

[14:19] {dino}  ceco sm l .98

[14:24] {nemo} stopped .63

[14:32] {Threei}  a lot of indecisiveness here... waiting it out

[14:35] {dino} apol trig .00 sm l

[14:36] {dino} pulp so careful

[14:40] {magoo} vsad..GS bounce?

[14:40] {Threei}  can't tell mags

[14:40] {Threei}  need anoter pullback and higher low

[14:42] {dino} ceco stop to .38

[14:43] {dino} out ceco .38, +.40

[14:49] {dino} uthr sm l .48

[14:52] {Threei}  let's see if we can get double bottom here

[14:52] {Threei}  .55 FAS support

[14:53] {dino} uthr stoped -.28

[14:53] {Threei}  not holding but seloff very sharp

[14:54] {dino} f'ing reverse slip

[14:54] {Threei}  in .51, stop .48

[14:55] {Threei}  can I afford 3 cents stop?

[14:55] {magoo} depends..u have 200,000 shares?

[14:55] {nemo} wise-ass

[14:55] {Threei}  remember I said I was trying to outgrow pillow fights?

[14:55] {Threei}  I changed my mind

06[14:55] * Threei slaps magoo around a bit with a large trout

06[14:56] * nemo slaps Threei around a bit with a large with a concrete pillow

[14:56] {magoo} :)

[14:56] {nemo} got your back mags

[14:56] {vinod} fas in 5.47

[14:57] {magoo} ty

[14:57] {Threei}  careful vinod, keep tight stops

[14:57] {nemo} vinod...were you a motorcycle jumper in an earlier career?

[14:57] {Threei}  market is not reversing so far

[14:57] {vinod} sto is at 5.44

[14:57] {vinod} i just came in-nemo no jump

[14:59] {magoo} mkts clubbed

[14:59] {magoo} gs lows

[14:59] {vinod} wow!!!!!!!! what happen

[14:59] {nemo} FAS bouncing off morning support

[15:00] {magoo} vinod..it was breaking down

[15:00] {magoo} do not buy vads stops imo

[15:00] {Threei}  WSJ: US TREASURY TO UTILIZE ITS $30B INFUSION TO FORCE REPAYMENT OF BONUSES

[15:02] {magoo} financials getting CLUBBED

[15:03] {dino} like a baby seal

[15:03] {nemo} if FAS doesn't hold this bottom, closes gap to Friday?

[15:04] {vinod} nemo you should have told me to buy faz at 35

[15:04] {nemo} I'll make a mental note to tell you next time it's a buy

[15:04] {nemo} Sorry

[15:04] {magoo} [15:04] {vinod} nemo you should have told me to buy faz at 35

[15:04] {magoo} REALLY

[15:04] {nemo} Then again...Vad told me not to think...it's his fault

[15:05] {nemo} FAS to Friday

[15:13] {magoo} any bounce candidates lord vader?

[15:14] {i2romantis} lol

[15:15] {dino} apol stopped b/e

[15:15] {Threei}  yeah... FAZ is bounce candidadte {G}

[15:17] {nemo} well....let's go for the double bottom on FAS again!

[15:17] {Threei}  nope

[15:17] {nemo} gonna' close that gap...huh Dino?

[15:17] {Threei}  this is cascading selloff, lower lows

[15:21] {nemo} The circle is complete...FAS

[15:23] {Threei}  very nice panic

[15:23] {Threei}  let's let it settle down

[15:24] {Threei}  gotta wait out extreme fear

[15:24] {nemo} something paradoxical about the term "very nice panic"

[15:24] {Threei}  well... from a trader's point of view :)

[15:25] {Threei}  we don't want them all just to go and go

[15:25] {Threei}  gotta get some new entries

[15:25] {Threei}  and this selloff takes us there

[15:25] {nemo} Yeah, FAS was getting much too expensive

[15:29] {dino} chatter the govt soon will no let shares govt owns in banks/financials to be shorted

[15:29] {nemo} yeah, supposedly that's what's been behind the jumps today

[15:29] {Threei}  well, what was behind the drop then?

[15:30] {nemo} I was just throwing it out there for conversation

[15:30] {Threei}  I just love those explanations

[15:30] {nemo} It's a headline

[15:30] {Threei}  company announces bad earning and stock drops - they say "because of"

[15:31] {Threei}  company announces bad earning and stock goes up - they say "in spite of"

[15:31] {nemo} Oil prices rise on stocks, dollar

[15:31] {Threei}  bunch of entertainers

[15:31] {nemo} Everything is fiction

[15:32] {Threei}  if they gave it a 5 second's pause and thought, they would notice that there was no contra-announcement, yet financials reversed

[15:33] {Threei}  proving beyond reasonable doubt that original explanation for the rise was false

[15:33] {nemo} Of course, since the "news" made it all go up, maybe because it was just "news"  people decided to sell...eh

[15:34] {nemo} spaghetti method of discernment...trhow against wall, see what sticks

[15:34] {nemo} throw

[15:35] {dino} sm l uthr .70

[15:36] {Threei}  FAZ

[15:36] {Threei}  40 break long small sharea

[15:36] {Threei}  stop under .70

[15:37] {Threei}  1:1 half out or scalp

[15:37] {Threei}  1:2

[15:38] {Threei}  out in full +.70

[15:38] {Threei}  lol, too soon

[15:38] {Threei}  anyone??

[15:38] {dawg} got part of it thanks Vad

[15:38] {Threei}  full dollar from trigger

[15:38] {Threei}  dawg :)

[15:38] {vinod} yes.i have them at 40.02

[15:39] {Threei}  1 minute play

[15:39] {vinod} 0ut 40.10

[15:39] {Threei}  don't oversit vinod, end of today is very volatile

[15:39] {Threei}  good job

[15:39] {Threei}  wtg!

[15:39] {Threei}  wait... 40.10?

[15:39] {Threei}  or 41.10?

[15:39] {vinod} 41.10

[15:39] {Threei}  whew

[15:39] {Threei}  scared me :)

[15:40] {Threei}  FAZ really worth playing for more than 8 cents, lol

[15:40] {vinod} too fast to type

[15:41] {Threei}  no kidding

[15:41] {Threei}  this adrenalin-charged stock

[15:41] {Threei}  notice guys, no double bottom worked in FAS drop

[15:41] {Threei}  this is your typical cascaduing selloff

[15:41] {Threei}  not really good idea to be bottom-fishing in that

[15:43] {dino} cpla sm l .75

[15:44] {Threei}  interestingly, while FAS is red, BAC and even dog with flease known as C are solidly green

[15:44] {nemo} they've definitely given up some territory thought

[15:45] {nemo} though

[15:49] {Threei}  too bad day is over

[15:50] {Threei}  we are at the point very likely tyo produce reversal

[15:50] {Threei}  if not 10 min till the end of trading session I would go for trend reversal here

[15:51] {dino} out cpla .30, +.55

[15:55] {vinod} see you tomorrow

[15:55] {Threei}  AIG

[15:55] {Threei}  US TREASURY OFFICIAL CONFIRMS THAT US WILL ADD PROVISIONS TO $30B AID PAYMENTS TO RECOUP BONUS PAYMENTS

[15:55] {Threei}  how about:

[15:55] {Threei}  it was idiotic on our part not to have any provisions to bailout money in a first place

[15:56] {Threei}  now that we provided money with no strings attached, we are so enraged that they take money with no strings attached

[15:57] {Threei}  mags, you here?

[15:58] {nemo} low volume on the Nas

[15:59] {Threei}  and Dow?

[15:59] {nemo} 190%

[15:59] {nemo} S&P 125%

[16:00] {Threei}  okay gys

[16:00] {Threei}  thank you all

[16:00] {Threei}  havce a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {vint} Thanks Vad, good evening all

[16:00] {nemo} gnite

[16:01] {dino} thx all, good times

[16:01] {Threei}  ENER

[16:02] {Threei}  Q3 GUIDANCE NO LONGER APPLICABLE DUE TO ECONOMIC ENVIRONMENT

[16:04] {Threei}  ENER getting killed

Mar 13 2009

Mornng brought powerful plays on financial stocks. 50 cents on WFC, nice runs on FAS and BAC made the day. Second half was not too active as the pace slowed greatly. By any standard, very nice end to a week.

Session Time: Fri Mar 13 00:00:00 2009

[08:34] {Threei}  Good morning

[08:34] {cosmo} PALM springs...

[08:34] {nemo} heheeheheh

[08:34] {nemo} See that second link

[08:35] {Threei}  cosmo, nemo :)

[08:35] {cosmo} :)

[08:35] {nemo} cosmic :)

[08:35] {Threei}  05:53am [PALM] RBC Raised PALM to Outperform from Sector Perform

[08:35] {nemo} Only saw that 3 minute clip, but boy did Cramer take it in the shorts.  Give him credit for going on

[08:36] {nemo} Does that make it a sell?

[08:36] {cosmo} nemic:)

[08:36] {Threei}  BROADPOINT CAPITAL RAISED DELL TO NEUTRAL FROM SELL, PRICE TARGET: $11.50

[08:36] {Threei}  - Says stock is already discounting the challenging fundamentals.

[08:38] {nemo} geez...stretching their necks out on that 11.50 target...

[08:39] {Threei}  http://www.youtube.com/watch?v=tIPqe5bsjx4

[08:40] {nemo} It's up...was looking for that earlier this morning.

[08:42] {cosmo} QGEN

[08:42] {Threei}  JPM

[08:42] {Threei}  SHARES INITIATED AT OUTPERFORM AT BAIRD, PRICE TARGET $33

[08:44] {Onix} Good morning

[08:44] {Threei}  onix :)

[08:47] {nemo} John Stewart did a great job...impressive

[08:47] {Threei}  he was more restrained than in previous segments

[08:48] {nemo} well, he was treating this as a news story as opposed to a comedy skit...fantastic.

[08:48] {cosmo} same thing i thot

[08:49] {cosmo} i like the blend

[08:49] {nemo} I'm sorry cosmo...you thinking the same thing as me is not a sign of mental health.

[08:49] {nemo} remember, Vad always tells me not to think

[08:50] {cosmo} i understand

[08:50] {nemo} thanks

[08:51] {buyemsellem} morning. watching stewart/cramer to kick things off

[08:51] {nemo} Mmmmmhhhhh....Friday the 13th heading into the Ides of March. et tu Vad?

[08:52] {Threei}  buyem :)

[08:54] {Threei}  this is interesting read:

[08:54] {Threei}  http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=yahoo

[08:55] {nemo} see where the Chinese are voicing concern over US Debt?

[08:55] {Threei}  shrug

[08:56] {cosmo} debt happens

[08:56] {Threei}  eqzaktly

[08:56] {Threei}  they may express concerns... so what

[08:57] {cosmo} they could send troops

[08:57] {cosmo} nah

[08:57] {nemo} I understand there is a certain catch-22 about their situation...to protect their debt, they have to buy debt...but

[08:57] {cosmo} debt eventually eats its own tail

[08:57] {Threei}  nothing would be stupdier than to challenge your debtor, who also happens to be more powerful militarily

[08:58] {nemo} anyway...Vad, what conditions do you require before being comfortable with swing trades?

[08:59] {Threei}  events wise, m2m change to come out and be accpeted by the market as a good solution,

[08:59] {Threei}  chart wise, either puillback with higher low and rally contiuation

[08:59] {Threei}  or

[08:59] {Threei}  consolidation into m2m and breakout

[09:00] {Threei}  all this would show this is more than technical bounce

[09:00] {Threei}  I mean, as nice as it is, on a big scale of things this very small bounce

[09:01] {Threei}  still remains within the framework of "little bounce after huge selloff"

[09:02] {nemo} 3 days...BFD...of course, now the banks are saying they're healthy, so how much of a manipulation/scam has the last few months been...now m2m is being questioned and possibly adjusted, and as you said yesterday about things not being as bad...from a financial structure point of view...as we thought. 

[09:02] {dptl} good morning

[09:02] {Threei}  dp :)

[09:03] {Threei}  I don't know how bad things really are... but the thing is, nobody does

[09:04] {Threei}  we still have enormous volume of CDS to unwind

[09:04] {nemo} yes

[09:04] {Threei}  and no one knows how that is going to go

[09:04] {Threei}  we still have major sectors of economy on a brink of collapse

[09:04] {nemo} There is also to be determined whether there has been a secular shift in consumption

[09:04] {Threei}  enter GM

[09:05] {Threei}  so...

[09:05] {Threei}  before we all turn into raging bulls

[09:05] {nemo} Yes, and if OPEC can force the price of oil up...will drain capital away from economy

[09:05] {Threei}  let;'s let the charts tell us what to do

[09:05] {Threei}  I don't think they have any power at this point

[09:05] {nemo} Raging bull...nah...chicken little

[09:06] {Threei}  LVS

[09:06] {Threei}  EARLY STRENGHT ATTRIBUTED TO POSITIVE COMMENTS AT BERNSTEIN

[09:06] {Threei}  - likely use exiisitng assets to survive

[09:06] {Threei}  - reiterates OP rating and $8 PT

[09:07] {Threei}  nice target

[09:08] {cosmo} GM should make free energy motors, mag lev trains, and such

[09:08] {cosmo} their shovel ready for it

[09:08] {cosmo} they're

[09:09] {cosmo} wait...'free' ruins everything ...sorry

[09:09] {magoo} morning

[09:10] {Threei}  magoo :)

[09:10] {vinod} Good Morning

[09:11] {Threei}  vinod :)

[09:11] {Threei}  BOFA/MERRILL LYNCH INITIATES CLNE WITH NEUTRAL, PRICE TARGET: $5.50

[09:12] {magoo} game plan vad?

[09:13] {Threei}  pretty much same as yesterday for the first half of the day:

[09:13] {Threei}  assuming rally xcxontinues want to buy pullbacks and let the move develop, as we did with GE yesterday

[09:14] {Threei}  if that works as planned, then re-evaluate second half of the day to try and gauge

[09:14] {Threei}  whether profits will be taken into the weekend or shorts will run screaming

[09:15] {vinod} do you think FAZ may be good buy if market goes up 150

[09:16] {Threei}  I don't think in these terms

[09:16] {Threei}  why 150? why not 50 or 250?

[09:16] {vinod} sorry, thanks

[09:16] {Threei}  it's arbitrary numbers

[09:16] {Threei}  FAZ will be a good buy when this rally peters out

[09:17] {Threei}  and the question when it happens is something no one on tha planet is able to answer I suspect :)

[09:18] {cosmo} they might called the Globero

[09:18] {cosmo} might call it...

[09:18] {ese} morning.......had a late show last night....eyes are barely open....

[09:19] {Threei}  ese :)

[09:19] {ese} you know what they say though...."if your gonna fly with the eagles at night ya gotta learn to walk with the crows in the day"

[09:19] {Threei}  hmmm... you mean youy usually trade with your eyes open??

[09:19] {Threei}  I gotta try that...

[09:20] {dino} gm all

[09:20] {nemo} Why Vad, you have the 3rd eye-omniscient, all seeing...cough!

[09:20] {Threei}  dino :)

[09:21] {ese} I did trade with my eyes open ...it wasn't as much fun as just randomly selecting stuff

[09:21] {dino} that his wandering eye

[09:22] {Threei}  BALTIC DRY BULK INDEX -3.6%, 3RD STRAIGHT DECLINE ; LARGEST FALL SINCE FEB 13TH

[09:22] {cosmo} also a friday

[09:22] {cosmo} hmm

[09:24] {Threei}  STT very small gap comparing to the rest

[09:24] {Threei}  I'd expect it to do its usual sharp move down after open

[09:24] {cosmo} PALM pre nkt high = 8.40   fwiw

[09:24] {dino} es, i use the coin flip system

[09:24] {cosmo} mkt

[09:28] {vint} good morning all

[09:28] {Threei}  vint :)

[09:29] {Threei}  I reposted in the floor for late arrivals

[09:31] {Threei}  STT pulling back

[09:32] {Threei}  prepare half lot

[09:32] {Threei}  be ready but don't jump in too early

[09:33] {Threei}  23 break long

[09:34] {nemo} blew by

[09:34] {Threei}  back into it, next support is .75

[09:34] {Threei}  to put a stop under

[09:37] {ese} L DRYS .21

[09:37] {ese} bounce

[09:38] {dino} online edu hit

[09:38] {vinod} stt in 22.86

[09:39] {ese} if the Q's turn against me i'm out

[09:39] {Threei} Long Setup:  FAS  .25

[09:39] {Threei}  stop under .10

[09:44] {vinod} stt out 23.05

[09:44] {Threei}  market is still a bit hesitant

[09:44] {Threei}  not very clear

[09:44] {ese} DRYS hangin in there

[09:44] {dino} apol, esi, cpla blood

[09:45] {Threei} Long Setup:  WFC  .20 break if stays above 14

[09:48] {dino} apol gap fill from mon. close

[09:49] {dino} esi woprking on it

[09:49] {Threei}  okay market, time for higher highs

[09:49] {dino} filled

[09:52] {dino} v s .00, stop .37

[09:54] {fernp} Hello everybody

[09:54] {Threei}  fern :)

[09:55] {Threei}  *MARCH PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 56.6 V 55.0E

[09:55] {Threei} Long Setup:  BAC  .16 if stays above .10

[09:55] {wulff} probably alot of short screaming FALL!!! but so far no go

[09:55] {dino} cov v .60, +.40

[09:56] {dino} too soon

[09:56] {Threei}  we need to hold the lows of these pullbacks and start making new highs

[09:56] {dino} pins and needles mode

[09:56] {Threei}  if this happens, we are in for the stunning rally

[09:56] {ese} i;m all for the higher highs theory

[09:57] {dino} still not liking those mon. close gaps

[09:59] {ese} tick showing a tad bit more buying coming into the market...not much though

[09:59] {dino} es apol

[09:59] {Threei}  okay, things start looking as we want them to

[10:00] {nemo} 1/2 out fas .29 in .19

[10:00] {Threei}  next push should end this nonsense and launch us into rally territory

06[10:00] * Threei kicks the market in the rear

[10:01] {ese} thinkin bounce dino apol

[10:01] {dino} yes

[10:01] {dino} was at 64.60 just moved to .00

[10:01] {dino} esi, cpla same deal

[10:02] {Threei}  OK... let it be last pullback

[10:02] {Threei}  this grind requires more patience than I am accustomed to over last few months, lol

[10:02] {ese} i just added 2nd lot on DRYS after high low....want to watch apol though

[10:02] {Threei}  BAC at 1:1, holding

[10:03] {Threei}  not a scalp for me

[10:03] {ese} .50 bounce right there

[10:03] {ese} really nice bounce APOL

[10:04] {Threei}  WFC over 1:1 here, taking half off

[10:04] {ese} come on DRYS

[10:05] {magoo} out WFC .44 TY

[10:05] {Threei}  +.27

[10:05] {dino} well that sucked missed esi and apol

[10:05] {Threei}  BAC 1:2, half out

[10:05] {ese} whoa dino....nice bounce APOL

[10:05] {Threei}  WFC stop to .15

[10:06] {ese} NOOOOOOO say it isn't so dino.........

[10:06] {dino} so

[10:06] {nemo} 1/4 more fas .39

[10:06] {Threei}  FAS baby

[10:06] {magoo} out FAS .41 TY

[10:06] {Threei}  welcome

[10:06] {ese} trin falling tick climbing....come on market

[10:06] {nemo} ty vad

[10:06] {Threei}  half out FAS

[10:07] {Threei}  nemo :)

[10:07] {dino} cpla sm l .14

[10:07] {nemo} stop to where on fas vad?

[10:07] {Threei}  stop to .15

[10:07] {Threei}  I am really giving the room to breathe tosday, ain't I

[10:07] {nemo} you is

[10:08] {Threei}  WFC, out in full here

[10:08] {Threei}  +.52

[10:10] {Threei}  BAC 1/4 more out .29

[10:10] {nemo} out fas .45

[10:10] {nemo} ty vad

[10:11] {Threei}  FAS 1/4 more out .43

[10:11] {wulff} good calls

[10:11] {Threei}  ty

[10:11] {nemo} the Vadinator

[10:12] {Threei}  stops for last little pieces:

[10:12] {Threei}  BAC .14

[10:12] {Threei}  FAS .19

[10:12] {ese} could have walked from here to vads house for the amount of time drys is taking

[10:13] {Threei}  lol

[10:13] {Threei}  don't intend to lose money on these last portions as you see,

[10:13] {ese} put the coffee on vad

[10:13] {Threei}  and eant to leave them some room

[10:13] {Threei}  coffee?

[10:13] {Threei}  coffee??

[10:13] {nemo} you'll have to drink it black, ese

[10:13] {Threei}  come on

[10:13] {nemo} voka

[10:13] {nemo} vodka

[10:14] {Threei}  dp says

[10:14] {Threei}  no vodka - me no go"

[10:14] {dptl} lol

[10:14] {dino} old mossback rimm not following

[10:18] {ese} can barely see this morning as it is.....vodka would make me blind

[10:18] {Threei}  ok ese... softened version, just for you:

[10:18] {Threei}  coffee via hypodermic needle

[10:19] {ese} that'll work nicely

[10:21] {Threei}  kind of defining moment now

[10:21] {Threei}  FAS breaks .50, next leg starts

[10:21] {Threei}  if can't, we may get a breather

[10:21] {Threei}  BAC baby

[10:22] {Threei}  FAS baby

[10:23] {Threei}  let's start trailing morfe agressively

[10:23] {dino} ctrp

[10:23] {Threei}  FAS new stop is .34

[10:24] {nemo} Would new entry for FAS be break of .50

[10:24] {nemo} I'm out 

[10:24] {Threei}  BAC .24

[10:24] {Threei}  I hate breakoutys on this type of stocks

[10:25] {Threei}  okay

[10:25] {Threei}  out FAS

[10:25] {Threei}  gotta sit it out now and evaluate what's happening

[10:26] {dino} cpla stopped -.38

[10:26] {Threei}  pullback is a bit too sharp for my taste

[10:26] {nemo} Friday the 13th...I don't think this will be another euphoric day going into the weekend...steady digestion would be a success

[10:27] {dino} ctrp sm s .01

[10:29] {dino} bstop is .33

[10:30] {Threei}  sharp drop FAS

[10:31] {Threei}  not sure what's happening but happy with my exits

[10:32] {Threei}  I don't see any news

[10:32] {nemo} I think your comment is probably prevalent out there in the markets

[10:32] {nemo} Dino's retracements

[10:32] {ese} somethings rotten in Denmark....market internals not looking so good

[10:34] {Threei}  BAC is interestingly storng vs FAS

[10:36] {nemo} C might be setting up for a short, but looks like the markets are strengthening a tad

[10:39] {dino} ctrp bstop to .91 friday scalp mode

[10:39] {dino} to .75

[10:40] {dino} to .61

[10:41] {dino} riding it like a beat mule

[10:41] {dino} cov .61, +.40

[10:41] {magoo} WFC here long vad?

[10:41] {Threei}  not sure

[10:42] {dino} cpla lasyt try .15 sm l

[10:42] {Threei}  WHITE HOUSE ADVISOR SUMMERS: NEXT ECONOMIC EXPANSION SHOULD BE 'SOUND' AND NOT DUE TO 'FINANCIAL EXCESS'

[10:42] {nemo} seems to be following market

[10:42] {nemo} that would be new...the last three were because of financial excess

[10:43] {dino} you have to define the word "should"

[10:43] {Threei}  ugh... sorry, forgot to post BAC exit on the last poriton at .41

[10:45] {dino} ice, v, aapl, rimm

[10:45] {Threei}  - says can not predict when the crisis will end.

[10:45] {nemo} 2012

[10:49] {Threei}  consumer spending has appeared to stabilize

[10:52] {Threei}  glad we stayed away from WFC

[10:52] {Threei}  very unclear moment here

[10:54] {Threei}  - Comments that Obama will dicuss funding of emerging markets and increasing overall global demand at the G20 meeting (Note: White hosue press sec Gibbs made similiar forecasts yesterday)

[10:54] {Threei}  - Remarks that bank stress tests will create 'necessary adjustments'

[10:54] {Threei}  ummm

[10:54] {Threei}  funding of emerging markets?

[10:54] {Threei}  are we bailing out the world now?

[10:56] {Threei}  don't jump on these pullbacks just yet

[10:57] {nemo} they're only pieces of paper...

[10:57] {Threei}  well, they are IOUs

[10:57] {nemo} If they were a softer ply they'd actually be useful

[10:58] {Threei}  I am not trying to buy here, prefer to miss the bounce than to get caught in the next wave of selling

[10:59] {Threei}  our morning gains is nothing to sneeze at

[10:59] {Threei}  I'll better sit out a few hours of unclear actions than jeopradize them needlessly

[10:59] {Threei}  NASDAQ went red

[11:00] {Threei}  DJI is light green, S%P ia barely above the water

[11:00] {Threei}  look at FAS and WFC

[11:00] {nemo} BAC too

[11:00] {Threei}  yeah

[11:01] {Threei}  BAC is better bounce candidate

[11:02] {nemo} pNeed a double bottom after this drop?

[11:02] {Threei}  WFC actually managed to go red

[11:03] {Threei}  BAC support is 6.05 now

[11:03] {Threei}  pullback closer to it and pause is a valid entry point for double bottom

[11:03] {nemo} indexes turning up

[11:04] {Threei}  no way to tell where this pullback on BAC will bottom, watch FAS for guidance and try to catch the price close enough to support for stop comfort

[11:05] {Threei}  and don't jump on price alone, your signal is drop, pause, uptick

[11:06] {Threei}  watch FAS to turn up

[11:06] {nemo} yeah, could be upside down C&H

[11:06] {Threei}  right

[11:07] {Threei}  lost .05

[11:07] {Threei}  FAS drops like a stone

[11:07] {nemo} got a long way to go

[11:07] {nemo} look for .80?

[11:08] {Threei}  don't know

[11:08] {Threei}  it's not about prices at this point

[11:08] {nemo} just being academic falling knives and all

[11:08] {Threei}  this is not a technical move that can be read in terms of support resistance

[11:09] {Threei}  all markets are red

[11:09] {Threei}  now tell me... aren't you happy to be a DAY trader these days?

[11:09] {Threei}  we caught a beautiful march up in the morning,

[11:10] {Threei}  we correctly determined the potential, more than a scalp but not a full day hold yet,

[11:10] {Threei}  exited very close to the top

[11:10] {Threei}  and sat out this fall of a cliff

[11:11] {Threei}  and if you all fell asleep I will too

[11:30] {fernp} .

[11:31] {Threei}  we are in deep coma fern

[11:31] {Threei}  which is to say, we are in our normal state IQ wise

[11:31] {dptl} yawn......

[11:32] {fernp} I have to learn to do that

[11:32] {Threei}  it's easy

[11:32] {Threei}  ask dp

[11:32] {dptl} it' easy....Firn...vodka is the key..

[11:32] {Threei}  involves healthy dose of Stoli

[11:33] {dptl} sorry fern..

[11:34] {fernp} no problem. Looking for vodka right now

[11:35] {dptl} it's should be in the fridge...always..no need to look for it then..:)

[11:41] {Threei} Long Setup:  BAC  6 break, just a scalp

[11:42] {nemo} stop?

[11:43] {Threei}  depends on where it bottoms on this pullback

[11:43] {Threei}  under .90 invalidated

[11:43] {Threei}  .96 held

[11:43] {Threei}  so if breaks from here, you have your stop

[11:46] {Threei}  market weakens more

[11:46] {Threei}  so does FAS

[11:46] {Threei}  good test for BAC's resolve

[11:46] {nemo} out

[11:48] {Threei}  ECB'S WELLINK: IT IS NOT AN OPTION FOR GREECE OR ANY OTHER COUNTRY TO LEAVE THE EMU

[11:48] {Threei}  - notes there is flexibility in the EMU stability pact to exceed the 3% deficit limit.

[11:48] {Threei}  no?

[11:48] {Threei}  once you are in, you are in forever?

[11:57] {Threei}  anyone's awake still?

[11:57] {nemo} yeah

[11:57] {Threei}  or let's bag out astounding morning profits and go enjoy weekend?

[11:57] {Threei}  out = our

[11:59] {Threei} Long Setup:  PALM  8 break

[11:59] {Threei}  stop under 7.90 for scalpers, under 7.80 for day trade

[12:01] {Threei}  hmmm... there is a stock named MAGS

[12:02] {nemo} do they make beer drinking machines?

06[12:02] * Threei slaps magoo around a bit with a large MAGS news headline

[12:02] {Threei}  ANNOUNCES THAT IT EXPECTS TO INCUR NON-CASH WRITE-OFFS AND ESTABLISH RESERVES FOR TERMINATION EXPENSES

[12:04] {vinod} in palm 8.00

[12:04] {Threei}  it didn't break yet

[12:05] {Threei}  when it's bumping on the resistance for that long, it's actual break you want to see before entering

[12:05] {vinod} 8 breaks means if it breaks 8.00?

[12:05] {Threei}  [11:59] {Threei} Long Setup: PALM 8 break

[12:05] {vinod} got it

[12:05] {Threei}  meaning, it's sets up for ther trade if breaks 8

[12:05] {Threei}  look at the chart, you'll see it testing 8 for a while

[12:06] {Threei}  break of resistance serves as a trigger for the trade

[12:07] {vinod} thanks

[12:17] {wulff} what should we talk about?

[12:17] {Threei}  flowers?

[12:17] {wulff} i have some nice orchids

[12:17] {Threei}  I don't

[12:18] {wulff} facinating

[12:18] {Threei}  CAT is trying the low

[12:18] {Threei}  if market drops sharply, could be a short

[12:18] {Threei}  let's say .10 trigger

[12:20] {Threei}  so far nearest resistance is .20, for hardcore scalpers .15

[12:24] {dino}  hmmmmmmmmmmmmmmmm

[12:26] {wulff} drys .05 long

[12:27] {wulff} stop .99

[12:31] {wulff} how about roses?

[12:32] {Threei}  couple shrubs

[12:32] {wulff} flowers grow in russia?

[12:32] {Threei}  umm... well... yes

[12:33] {wulff} snow and all...

[12:33] {nemo} snow flowers

[12:33] {Threei}  not 12 months a year...

[12:33] {wulff} well... now we're discussing

[12:34] {Threei}  cool... polar bears don't eat roses

[12:34] {Threei}  (random fact)

[12:36] {Threei}  polar bears don't eat penguins either

[12:36] {Threei}  (another random fact)

[12:36] {nemo} should I tell them about how to catch  a polar bear?

[12:36] {Threei}  them - penguins?

[12:36] {nemo} in general?

[12:38] {Threei}  TM SUSPENDING PRODUCTION AT RUSSIAN PLANT

[12:39] {Threei}  Russia is back to Lada?

[12:41] {vinod} my family used t have a car Volga

[12:42] {Threei}  yup... luxury brand

[12:43] {vint} prez on tv?

[12:44] {Threei}  not that I see

[12:45] {Threei}  I actually start experiencing withdrawal symptoms

[12:45] {vinod} going toward green on marlket?

[12:46] {Threei}  trying...

[12:49] {wulff} if drys is not moving with this pop, should I consider it no go

[12:49] {Threei}  hard to tell

[12:49] {Threei}  could be dead, could be biding its time

[12:53] {ese} Outta here for the weekend all....take care

[12:54] {Threei}  have a good one ese

[12:54] {ese} will do vad.....still nursing DRYS......we'll see what happens at the end of the day

[12:56] {nemo} RIMM creeping

[12:56] {wulff} snoozer huh?

[12:57] {vint} vad-is market volatile whole last year or just recently?

[12:57] {Threei}  this volatility is nothing vs what we had in the fall

[12:57] {Threei}  Sept - Oct were the highest I've ever seen

[12:57] {nemo} what's the vix at?

[12:58] {vint} thanks

[12:59] {wulff} was 41 yest.

[12:59] {nemo} what was it, in the 90's in the fall?

[12:59] {Threei}  80+, yeah

[12:59] {Threei}  highest ever

[12:59] {nemo} so half the volatility?

[13:00] {nemo} BAC C&H A.94?

[13:00] {Threei}  yeah

[13:00] {Threei}  right chart, wrong time

[13:00] {nemo} lunch time?

[13:01] {Threei}  yes

[13:01] {nemo} roger that

[13:02] {Threei}  why don't they come out now and sayy we are abandoning m2m

[13:02] {Threei}  we would buy 5K FAS, 5K BAC

[13:02] {Threei}  and make our monthly profit in one hour

[13:03] {_skylan8} rimm looks like breaking out here ?

[13:03] {nemo} make the year if we waited all day :) that's a lot of vodka

[13:03] {Threei}  same thing as for FAS, skylan

[13:03] {Threei}  at this time of the day more setups tend to fail than work

[13:04] {Threei}  kind of too random

[13:04] {nemo} yeah, watching that too.

[13:06] {_skylan8} ok

[13:12] {nemo} well, FAS and BAC setting up for a JB?

[13:13] {nemo} SPY also

[13:13] {Threei}  probably...

[13:13] {_skylan8} what is JB?

[13:13] {Threei}  JBE?

[13:14] {nemo} Either a Jump Base Implosion or Explosion, depending on whether you think it's going up or down...it's a chart pattern

[13:14] {nemo} see how FAS and SPY just popped?

[13:15] {Threei}  JBE = Jump-Base- Explosion setup

[13:15] {Threei}  DBI - Drop-Base-Implosion

[13:16] {nemo} oops, screwed up the acronym

[13:16] {nemo} sorry VAD

[13:16] {magoo} STT bounce vad?

[13:16] {nemo} everything just bounced

[13:17] {Threei}  STT is a bit weird

[13:17] {Threei}  not sure

[13:19] {dino} sidetracked here

[13:31] {nemo} BAC Vad, or is it teasing us?

[13:32] {Threei}  I have hard time gauging this move

[13:32] {Threei}  volume and pace are practically non-changing

[13:32] {Threei}  no feel of the direction of pressure

[13:34] {dino}  grrrrrrrrrrrr, big misses on apol, esi

[13:35] {dino} asleep at the wheel on them

[13:37] {dino} i underestimated esi, was at 98.80 in wait

[13:38] {Threei}  see this sudden drop FAS?

[13:38] {nemo} yes

[13:39] {Threei}  this is exactly kind of things that I feel can happen any second on the move like this

[13:39] {Threei}  and it keeps me on a sideline

[13:39] {nemo} landmines everywhere

[13:40] {dino} hmmm and all along i thought it was your un-athletic abilities

[13:41] {nemo} whoa, Dino

[13:41] {dino} :)

[13:43] {dino} guess i hurt his feelings

[13:43] {Threei}  you would, if I could read

[13:43] {Threei}  but, since I can't... you are safe

[13:44] {Threei}  on second thought...

[13:44] {dino} ahhhh, ty 3i-son

06[13:44] * Threei slaps dino around a bit with a large 50 lb dumbbell

06[13:45] * nemo slaps dino around a bit with a large Emily Post's "Rules of Etiquette"

[13:45] {dino} ouch!

[13:45] {dino} see those sparks fly, like steel on steel

[13:45] {Threei}  lol

[13:45] {dino} cpla stop to .78 

[13:45] {nemo} steel on lead you mean

[13:45] {vint} prez on tv- talking about economy

[13:46] {dino} ok

[13:46] {nemo} you're jokin'?

[13:46] {Threei}  no

[13:46] {Threei}  he is on

[13:46] {nemo} only first time though, must be sick

[13:46] {dino} he's like the cnbc bunch w/someone talking in his ear so he knows what to say

[13:50] {dino} out slippage both ways, ave .83, +.68

[13:50] {dino} cpla

[13:55] {dino} rimm l .49

[13:56] {nemo} ballsy ino

[13:56] {nemo} Dino

[13:57] {dino} feeling a turn, tight stop .37

[13:57] {dino} and of course, fortune favors the bold

[13:57] {nemo} funny, guys on point get shot first

[13:58] {dino} lol

[13:58] {dino} of course, the east of the saying, "darkness lies an inch ahead"

[13:59] {dino} the rest

[13:59] {nemo} And of course, "I couldn't tell if that is a light at the end of the tunnel, or an oncoming train?"

[14:01] {dino} darn v was my other choice, i choose badly

[14:01] {wulff} PALM

[14:03] {_skylan8} 3i if oil goes up $1 a barrel how much would DXO go up  approximate?

[14:03] {nemo} match it up to the various measures of crude out there?

[14:04] {Threei}  no idea skylan, sorry

[14:04] {Threei}  never tracked that

[14:04] {wulff} if oil goes up in the woods...

[14:04] {_skylan8} ok

[14:05] {Threei}  PALM

[14:05] {Threei}  HEARING RENEWED TAKEOVER CHATTER

[14:05] {Threei}  - DELL rumored as a potential bidder

[14:05] {Threei}  lol... remember we once discussed that

[14:06] {dino} msft should

[14:06] {nemo} not too long ago

[14:06] {Threei}  DELL said to be looking into entry in mobile phones,

[14:06] {Threei}  and we speculated that PALM ould be a target

[14:09] {nemo} Nice Dino my .52 bid didn't get hit

[14:09] {dino} out rimm .61, +.12

[14:10] {dino} ty nemo, lucky

[14:12] {nemo} Volume,except for DOW looks like people tiptoeing into the weekend

[14:12] {wulff} next hour will tell

[14:12] {_skylan8} 3i when you say to stop out do you use broker automatic stops or just mental stop and pull trigger yourself?

[14:12] {Threei}  yeah, activity should resume closer to eod

[14:13] {Threei}  people will start repositioining

[14:13] {Threei}  I prefer mental stops

[14:13] {Threei}  they require discipline

[14:13] {Threei}  but if that is not an issue, they have a lot of advantages over hardwired ones

[14:15] {_skylan8} i use mbtrading and automatic stops but can marketmakers see where my stops are?

[14:15] {dino} fwiw i prefer auto stops on naz

[14:15] {Threei}  that's not an issue at all skylan

[14:16] {dino} on naz no

[14:16] {Threei}  unless you trade hundrerds of thoudands of shares, who cares

[14:16] {Threei}  if you trade 1-2-5K shares, no one is going to run around looking for your stop placement

[14:16] {_skylan8} ok thnks

[14:17] {Threei}  it can feel sometimes as if they were looking for your specific stop location, as stock reverses right after taking you out

[14:17] {dino} nemo, v nice range

[14:17] {Threei}  but it's more related to most placing their stops in the same places

[14:18] {Threei}  and no, marketmakers can't see it

[14:18] {nemo} ascending Dino, but these dumps...look at RIMM

[14:18] {Threei}  your broker can IF the stop is serevr-sided, not client-sided, and IF he cares at all

[14:18] {wulff} I actually have laser eyesight

[14:19] {Threei}  which, being am agency, he doesn't

[14:19] {Threei}  if he acts as principal, he may

[14:19] {nemo} what wulff...I had laser surgery

[14:19] {Threei}  but direct access brokers don't do that as a rule

[14:20] {nemo} damn Dino, whish I had seen that double top, then I could have called it and not taken it :)

[14:20] {dino} i'm a bottom buyer in bears

[14:20] {nemo} oooohhhhh....how alliterative

[14:21] {dino} lasik, me too

[14:21] {nemo} prefer not to do it again, but went from holding the alarm clock up to my face to 20-13...now, my arms aren't long enough

[14:22] {nemo} http://www.thestockmasters.com/cramer-fired-2006-video-03132009.html

[14:22] {dino} 20-15. alto age setting in

[14:23] {_skylan8} RIMM dropping  fast

[14:23] {vint} for mental stop, what is advisable to pull the trigger when it hits exact stop price or we can be flexible few cents? many times I see price touching mental stop and turning in favor

[14:23] {dino} will rimm hold lod

[14:23] {dptl} have a good weekend all

[14:23] {dino} cya dp have fun

[14:26] {Threei}  take care dp

[14:26] {Threei}  skylan, that depends on how your stock arrived there

[14:26] {fernp} by dp

[14:27] {fernp} bye

[14:27] {Threei}  if it dipped fast and paused, it's often bouncing back right away

[14:27] {Threei}  so in such cases I tend to wait a little

[14:27] {Threei}  and sell if selling resumes

[14:27] {Threei}  but if your stock slid gradually into stop level and brokeit, get out right away

[14:28] {Threei}  oops, sorry, that was for vint

[14:28] {vint} got,that has been my struggle

[14:28] {vint} thanks

[14:28] {_skylan8} if RIMM breaks low of day should we go short or how low before shorting?

[14:29] {Threei}  RIMM is mostly a market follower

[14:29] {Threei}  your best bet on it is a situation when it stalls right above the support,

[14:29] {wulff} you like PALM here vad?

[14:29] {Threei}  and market breaks down sharply

[14:29] {_skylan8} good point on how it got there 

[14:29] {Threei}  If you manage to catch that little delay that follower often gives, that's the best short entry

[14:30] {Threei}  PALM, not sure...

[14:30] {Threei}  it has slight upward bias but not so compelling that I would be eager to jump in

[14:31] {dino} f'ing cyber, 143 of 1000 at .25 rimm. thx chuck

[14:31] {dino} i'd be out already

[14:31] {nemo} you got chucked

[14:32] {dino} roflol

[14:34] {vinod} i thing fas is strong again

[14:35] {dino} v hk l .47

[14:35] {wulff} hypothetical PALM 1:1

[14:36] {dino} rimm stop to .49

[14:36] {dino} out rimm 

[14:36] {dino} +.24

[14:38] {fernp} gj dino w/your 143 shares

[14:38] {dino} case of beer, (ch)uck job

[14:38] {nemo} awwwwww fern!!!!!!

[14:38] {Threei}  lol

[14:38] {dino} the plan was correct

[14:46] {nemo} dino dcc please

[14:47] {wulff} PALM!! ouch

[14:47] {nemo} get spanked wulff?

[14:47] {Threei}  looks like reacts on market mostly now

[14:48] {wulff} was going to trade..but stayed out

[14:49] {dino} nemo, i'm there

[14:49] {Threei}  ok... let's assume this little pullback is a launching pad the the next leg up

[14:49] {Threei}  if so, FAS .10 break for a scalp

[14:51] {vinod} means any price under .10 ?

[14:52] {Threei}  no... breakout of .10

[14:52] {Threei}  as a trigger for entry

[14:52] {vinod} o.k I awill get ther may take some time

[14:53] {Threei}  if loses 5, ceases to be a breakout play and turns into bounce

[14:53] {vinod} i am taking this note

[14:53] {Threei}  and, if market spikes up from here, grab FAS aggressively right here

[14:55] {Threei}  nothing is clear yet... meaningless noise

[14:55] {Threei}  a few cents up, a few cents down

[14:56] {vinod} will i get all book soon

[14:56] {Threei}  feels like up is the most likely direction

[14:56] {Threei}  but it's like 51/49

[14:57] {dino} out v .71, +.24

[15:04] {dino} amed

[15:05] {fernp} have a nice weekend all. see you all on monday.

[15:05] {Threei}  have a good one fwern

[15:11] {dino} later fernp

[15:12] {nemo} bets on market today?

[15:12] {wulff} +70 +15

[15:13] {wulff} or -70 -15

[15:13] {nemo} definite maybe, huh pal

[15:16] {Threei}  still feels like up to me

[15:18] {cosmo} holx

[15:19] {cosmo} may test

[15:20] {patience} short covering rally...just a pause before down again imo

[15:20] {Threei}  FAS if dives under .10, looking for entry

[15:21] {Threei}  BAC nice buying pressure

[15:30] {dino} iwov

[15:33] {Threei}  C

[15:33] {Threei}  REPORTEDLY OFFERING SOME NEW HIRES IN LONDON GUARANTEED BONUSES OF $2-3M

[15:34] {dino} waiting sm .20

[15:34] {dino} iwov

[15:35] {nemo} nice work if you can get it, huh Vad?

[15:35] {Threei}  I am not moving to London

[15:35] {nemo} rains more than there?

[15:36] {Threei}  I can't understand British accent

[15:36] {i2romantis} lol

[15:36] {nemo} I used to have that problem with Russian accents

[15:36] {wulff} good call on the .10 bounce, did not take it though FAS

[15:36] {cosmo} they can't speak english correctly?

[15:37] {vinod} have a nice weekend to all

[15:37] {Threei}  have a good one vinod

[15:37] {dino} cya vinod

[15:40] {Threei}  IWOV

[15:40] {Threei}  STOCK SLIPS AFTER RELEASE OF ITS 10-K: WEAKNESS APPEARS TO BE A REACTION TO STANDARD 'RISK FACTOR' STATEMENT

[15:40] {Threei}  - "On January 22, 2009, we entered into a definitive agreement to be acquired by Autonomy Corporation plc in an all-cash transaction. Pursuant to the definitive agreement and subject to the terms and conditions set forth therein, Interwoven will be merged with and into a newly formed, wholly-owned subsidiary of Autonomy, with Interwoven surviving the merger as a wholly-owned subsidiary of Autonomy. Our announcement of our proposed transaction with Autonomy could cause a material disruption to our business."

[15:41] {dino} ty

[15:41] {Threei}  I don't get it

[15:41] {dino} circle talk

[15:41] {Threei}  buyout is set, all cash

[15:41] {Threei}  what difference does it make what happens to their business

[15:42] {cosmo} they dont want to loose autonomy

[15:43] {Threei}  don't tell pun was not intended

[15:43] {dino} sm l v .25 stop lod

[15:43] {cosmo} it was  ... hehe ....sorry...

[15:43] {Threei}  :)

[15:46] {Threei}  whole second half of the day was mostly out of my read

[15:46] {Threei}  and today's volume is, ummm

[15:47] {Threei}  would the spelling "redeekoolus" be right?

[15:47] {nemo} redikulus?

[15:47] {Threei}  that's it, thank you

[15:47] {nemo} de nada

[15:47] {dino} stopped v -.28

[15:48] {Threei}  seriously, on NQ volume is 1/3 of yesterdays and 10%(!) of Wed

[15:48] {Threei}  FHFA'S LOCKHART: CURRENT MORTGAGE MODIFICATION BILL COULD HARM FNM AND FRE, SHOULD BE ADJUSTED

[15:48] {Threei}  HARM FNM AND FRE???

[15:49] {Threei}  they can be harmed any more ijn any regard than they have been already??

[15:49] {nemo} could be rediqlus

[15:49] {Threei}  dawg... let's say it together

[15:50] {Threei}  they trade under 50 cents with 2-3 cents range, for CHRISSSSAKE

[15:50] {nemo} not talking about stock...alll the bureaucrat jobs

[15:50] {dawg} yeah boss

[15:51] {Threei}  I'll leave Lockhart to worry about those jobs

[15:51] {dino} iwov .55 l

[15:52] {Threei}  how about someone starts worrying about jobs lost because of the union card bill? or prices skyrocleting because of cap-andf-trade?

[15:53] {nemo} or OPEC squeezing supply

[15:53] {dino} out .67 +.12

[15:54] {dino} v major rinse

[15:56] {dino} v l .05 

[15:57] {Threei}  can anyone with different source verify the volume numbers?

[15:57] {Threei}  seem so out of whack

[15:58] {nemo} Just looking at FINVIZ DOW 150%  NAS 97%  S&P 110% of average

[15:58] {Threei}  ah, OK{ I see where the problem is

[15:59] {Threei}  I watch futures, and there is a rollower day soon

[15:59] {Threei}  I always forget about that

[15:59] {Threei}  so volume dries up on maturing contract

[15:59] {dino} out v .17, +.12

[16:00] {Threei}  just swithced to new one, volume is much better

[16:00] {Threei}  okay guys, beautiful end of the week

[16:00] {Threei}  even with inactive seond half of the day

[16:00] {Threei}  thank you sll, have a great weekend

[16:00] {Threei}  see you on Monday

[16:00] {dawg} thanks Vad and all

[16:01] {dino} thx all best week of year

[16:01] {wulff} ditto

[16:01] {Threei}  great to hear :)

[16:01] {nemo} Peace & QUiet

[16:01] {dino} gj wuff

[16:04] {vint} Thanks Vad, bye all

Mar 12 2009

Strong and relatively easy day. Long plays on GE, FAS, BAC, RIMM, STT... need I say more?

 

Session Time: Thu Mar 12 00:00:00 2009

[08:00] {nemo} Gruess Gott Herrn K!

[08:02] {Threei}  good morning

[08:02] {nemo} Vad :)  assignment completed

[08:02] {nemo} get your flowers?

[08:02] {Threei}  thank you :)

[08:03] {Threei}  yes but sent them back with card "next time let it be vodka"

[08:03] {nemo} My sentiments exactly...takes too long to turn them into vodka

[08:04] {nemo} FAS already moving 

[08:05] {Threei}  just trying to close the gap

[08:19] {KSystems} hi :)

[08:21] {nemo} geht dir gut?

[08:21] {Threei}  ks :)

[08:22] {magoo} morning

[08:22] {Threei}  magoo :)

[08:22] {nemo} hi mags

[08:22] {magoo} anything stalking pre mkt?

[08:23] {Threei}  not really clear whether this gap down is a small pullback or reversal

[08:24] {magoo} did we close up like 9 yesterday?

[08:24] {Threei}  even less

[08:25] {Threei}  4 or 5

[08:25] {nemo} slightly up, good consolidation day

[08:25] {Threei}  [15:58] {Threei} FAS closes differently today

[08:25] {Threei}  [15:58] {Threei} yesterday it closed at the highg

[08:25] {Threei}  [15:58] {Threei} today retreated half way

[08:25] {Threei}  [15:59] {Threei} not taking it overnight

[08:27] {Threei}  interestingly, with all the hedlines about m2m change not being considered, more and more noize about necessity to change it

[08:29] {nemo} It would allow them to put new facades on the Potemkin Villages.  When you get down to it, there are only mathematical models to value those CDOs. It's not like you can analyze one of them to tell exactly what's in there

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 654K V 644KE; CONTINUING CLAIMS: 5.317M V 5.140ME

[08:30] {Threei}  - Prior jobless claims revised from 639K to 645K

[08:31] {nemo} FAS just popped on that

[08:31] {Threei}  *FEB ADVANCE RETAIL SALES: -0.1% V -0.5%E; LESS AUTOS: 0.7% V -0.1%E

[08:31] {Threei}  - Prior Advance Retail Sales revised from 1.0% to 1.8%

[08:31] {Threei}  - Prior Less Autos revised from 0.9% to 1.6%

[08:31] {nemo} increases?

[08:38] {Threei}  the only piece of good news in that is, without autos consumption is increased

[08:38] {Threei}  market must be really desperate for any good news

[08:39] {nemo} Yeah, which has already been discounted as post Xmas spending and an adjustment in government wages, because they get automatic raises

[08:39] {Threei}  you put too much significance in such relic as facts {G}

[08:40] {nemo} Yes, history is merely a fantasy upon which we all agree...so just watch the price action?

[08:42] {Threei}  what else is there

[08:42] {Threei}  at least it's truth,

[08:42] {nemo} No argument here

[08:42] {Threei}  and it's up to us how good we are at understanding it

[08:43] {nemo} Breakin' out the tarot cards

[08:43] {Threei}  at the same time the chatter is not to be dismissed completely,

[08:43] {Threei}  it's the moment when price action contradicts the chatter when the best trading opportunity arises

[08:44] {Threei}  if you remember, a week or so ago

[08:45] {Threei}  cosmo's call on PALM

[08:45] {Threei}  when bad news premarket caused initial gap diwn, then it climbed bad to flat and broke out

[08:45] {Threei}  that was typical price-information divergence

[08:46] {Threei}  umm... climbed BACK to flat... my typing this morning...

[08:47] {Threei}  anyway, I have at least 3 articles in blog on that

[08:47] {Threei}  History Teaches Us, Price-Information Divergence and Trader's Job

[08:48] {Threei}  and my first session on seminar in Bahamas will be about that

[08:48] {Threei}  not too late to buy tickets yet

[08:49] {pita} gm all

[08:49] {Threei}  not you magoo

[08:49] {Threei}  pita :)

[08:57] {Threei}  morning cosmo

[08:58] {cosmo} still?

[08:58] {Threei}  yes

[08:58] {Threei}  I complimented you a few lines back

[08:58] {cosmo} checking

[08:58] {cosmo} oh

[08:58] {Threei}  but you'll have to wait for the trading log to be posted after market to read it

[08:58] {cosmo} gotcha

[08:58] {Onix} Good morning al

[08:58] {cosmo} sigh

[08:58] {Threei}  onix :)

[08:58] {Threei}  FAS in back to flat

[08:59] {_paliyad2009} goodMorning

[08:59] {nemo} [08:44] {&Threei}  if you remember, a week or so ago

[08:59] {nemo} [08:44] {&Threei}  cosmo's call on PALM

[08:59] {nemo} [08:45] {&Threei}  when bad news premarket caused initial gap diwn, then it climbed bad to flat and broke out

[08:59] {nemo} [08:45] {&Threei}  that was typical price-information divergence

[08:59] {Threei}  palliyad :)

[08:59] {Threei}  awww

[08:59] {Threei}  nemo, why would you do that

[08:59] {Threei}  I wanted to torture him for the whole day

[08:59] {nemo} I like cosmo :)

[08:59] {nemo} Vad evil

[08:59] {nemo} Darth Vad

[08:59] {Threei}  I do too

[09:00] {Threei}  but it has nothing to do with anything

[09:00] {cosmo} that was a 'bad' climb though

[09:00] {Threei}  I simply need to torture someone in order to wake up

[09:00] {nemo} torture...I'll go politically correct on you

[09:00] {nemo} FAS closed gap

[09:01] {Threei}  palliyad, you can login without underscore

[09:03] {cosmo} gee ...today it might be STLD.... but not to get fat headed about it....

[09:03] {Threei}  STLD is looong way from yesterday's close price

[09:04] {cosmo} it warned

[09:04] {_paliyad2009} thanks also like to change it to vinod

[09:04] {nemo} hi vinod

[09:04] {Threei}  same password?

[09:05] {_paliyad2009} yes

[09:05] {_paliyad2009} hi nemo

[09:06] {dptl} good morning

[09:07] {Threei}  give me a few please, I'll tell you when it's registerted

[09:07] {Threei}  dp :)

[09:12] {Threei}  GE

[09:12] {Threei}  CUT AT SP

[09:13] {dino} gm all

[09:13] {Threei}  dino :)

[09:13] {nemo} dino :)

[09:15] {cosmo} STLD needs to hold 6.95   imo

[09:17] {dino} :)

[09:17] {Onix} ge gets cut 

[09:17] {Threei}  marke is honestly trying to stay positive

[09:18] {Threei}  and goes up eh?

[09:19] {Threei}  GE

[09:19] {Threei}  ISSUES FORMAL STATEMENT ON DOWNGRADE AT S&P

[09:19] {Threei}  The ratings downgrade does not affect GEs and GECCs short-term funding ratings of A-1+, which was affirmed by S&P. The action follows a thorough review of GEs portfolio by S&P.

[09:19] {Threei}  - GE does not anticipate any significant operational or funding impacts from this change. The Company has taken steps to strengthen its balance sheet and liquidity position, including building $48 billion in cash, raising over 90% of its 2009 long-term debt needs, and lowering its commercial paper to $60 billion from $88 billion in third quarter 2008. GE will provide a detailed update on GE Capital at a March 19 investor meeting.

[09:21] {Threei}  BALTIC DRY BULK INDEX -3.1%, SECOND STRAIGHT DECLINE

[09:22] {pita} PFE spikes on drug trial, then drops - logic just does not apply.

[09:23] {Threei}  not in the market

[09:23] {Threei}  at least not conventional logic

[09:23] {pita} I need to be rewired

[09:23] {Threei}  inorder to start thinking as traders do, yes

[09:24] {pita} yes

[09:24] {Threei}  allow me to adress you again to three blog articles

[09:24] {dino} gild blood

[09:24] {Threei}  History Teaches Us, Price-Information Divergence and Trader's Job

[09:24] {Threei}  be back in 5

[09:28] {Threei}  paliyad, you can re-login as vino now

[09:28] {KSystems} vinod

[09:28] {KSystems} not vino

[09:28] {Threei}  right

[09:28] {Threei}  O guys, we may have a shot at upward move continuation today

[09:29] {dino} not dino

[09:29] {Threei}  O=OK

[09:29] {Threei}  market seems to shrug off another bad job numbers

[09:29] {_paliyad2009} o.k

[09:29] {Threei}  so far I amd in pullback buying mode

[09:29] {pita} watching?

[09:29] {Threei}  STT for its traditional drop and bounce

[09:30] {Threei}  GE

[09:30] {Threei}  WFC

[09:30] {Threei}  STT half lot, very volatile

[09:31] {dino} fre nees another 31 billion, cannot pay back loans

[09:31] {Threei} Long Setup:  WFC  .50 break if stays above .40

[09:32] {nemo} oops

[09:32] {Threei}  over 1:1

[09:32] {pita} too fast, ok on pullback?

[09:33] {Threei}  only if dips under .50 and stalls

[09:33] {Threei}  market weakens no entry yet

[09:34] {vint} good morning everyone

[09:34] {Threei}  vint

[09:34] {magoo} caught stt vad.68 to .05

[09:34] {magoo} TY

[09:34] {Threei}  welcome

[09:35] {ese} morning....late

[09:35] {Threei}  ese :)

[09:36] {Threei}  RIMM

[09:36] {Threei}  WEAKNESS PARTIALLY ATTRIBUTED TO CAUTIOUS COMMENTS AT GOLDMAN SACH (PRE-OPEN)

[09:37] {ese} STLD dino

[09:38] {dino} lowered big i think

[09:39] {dino} -40/45 vs +5-9

[09:39] {dino} ..

[09:39] {dino} should go to 5s

[09:39] {dino} pfe may go

[09:40] {dino} eyes on same old today, v, ice, pfe, lphi, pcln

[09:41] {Threei} Long Setup:  GE  .50 break if stays above .40

[09:41] {dino} gild too

[09:42] {Threei} Long Setup:  STT  half .10

[09:42] {nemo} in

[09:42] {Threei}  stop under 21.90

[09:43] {Threei}  STT no go

[09:44] {dino} pfe, hate to see what happens drug doesn't work, sheesh

[09:45] {ese} too funny

[09:46] {fernp} Hello everybody

[09:46] {Threei}  fern :)

[09:46] {Threei}  UPDATE: JP MORGAN COMMENTS ON STEEL MAKERS, CUTS ESTIMATES (PRE-OPEN)

[09:46] {Threei}  - JP Morgan speculates on possibility that AKS and US Steel (X) could violate their debt covenants.{AKS X}

[09:46] {dino} can you imagine, it would be a penney stock

[09:47] {dino} chtt dump

[09:48] {nemo} maybe we'll get a little market help on GE

[09:48] {Threei}  STT shakeout

[09:49] {magoo} normal:)

[09:49] {magoo} wfc strong

[09:50] {Threei}  yeah, one of strongest

[09:50] {vinod} wfc in 11.48 out 11.74 500

[09:50] {Threei}  pullback into .60 should be entry

[09:50] {Threei}  good job vinod

[09:51] {vinod} you guys are too fast

[09:51] {Threei}  comes with practice

[09:51] {ese} LGild.20 1/2

[09:51] {Threei}  no pullback WFC

[09:52] {magoo} animal

[09:52] {magoo} long q .50

[09:52] {Threei}  come on already GE

[09:52] {magoo} long spy .10

[09:52] {dino} sm l pfe .15

[09:52] {nemo} market strength isn't helping GE

[09:53] {ese} out GILD .44

[09:53] {ese} +.24

[09:53] {Threei}  well, it still stays green after downgrade

[09:53] {Threei}  maybe let's scratch it if uncomfortable

[09:53] {Threei}  hard to tell

[09:53] {magoo} realmoney says it no big deal..expected

[09:53] {Onix} gj ese

[09:54] {Threei}  ok, here is pullback on WFC finally

[09:54] {Threei}  want .50 - .60 zone

[09:55] {Threei}  see nemo... market weakness doesn't kill it either

[09:55] {magoo} out spy .26

[09:55] {nemo} yep

[09:55] {Threei}  it's kind of digesting

[09:55] {magoo} .43 stop q

[09:55] {vinod} ge in 8.48

[09:56] {Threei}  upticks against the market

[09:56] {Threei}  so far so good

[09:56] {nemo} let it run

[09:56] {Threei}  over 1:1, half out

[09:57] {Threei}  STT, I hate you

[09:57] {ese} tks onx

[09:57] {magoo} i hate WFC

[09:57] {vinod} ge out 8.67 see you after noon

[09:58] {Threei}  wtg, take care

[09:59] {Threei}  WFC simply didn't give much indocations for entry

[09:59] {Threei}  this is foundation for slight unplesantries

[09:59] {Threei}  STT on the other hand, shook us out, then went up a buck

[09:59] {Threei}  GE 1:2, 1/4 more out

[10:00] {Threei}  JAN BUSINESS INVENTORIES: -1.1% V -1.0%E

[10:00] {geo} good morning

[10:00] {geo} woke up late :)

[10:00] {Threei}  geo :)

[10:00] {Threei}  well... missed some but nothing overly dramatic

[10:01] {Threei}  stop is .55 now for the last portion GE

[10:02] {Threei}  VICE PRESIDENT BIDEN: STATES WILL BE LIMITED IN HOW THEY CAN SPEND STIMULUS FUNDS

[10:02] {fernp} im out GE. ty Vad

[10:02] {Threei}  welcome sir

[10:02] {nemo} out ge ty

[10:02] {Threei}  :)

[10:02] {Threei}  1:3

[10:03] {Threei}  make up your mind, two ways to go from here

[10:03] {nemo} yeah

[10:03] {Threei}  get out in full

[10:03] {Threei}  or

[10:03] {Threei}  trail stop

[10:03] {Threei}  and let it trade

[10:03] {Threei}  if go with latter, stop is .65 now

[10:05] {ese} FAS is a great day trading stock/index

[10:05] {Threei}  so far the idea of pullback hunting worked fine

[10:06] {Threei}  let's try to stay with it

[10:06] {ese} moves big fast and with lots of volume

[10:06] {Threei}  FAS is tempting

[10:06] {ese} very

[10:06] {Threei}  want pullback into 4.05 - .10 area

[10:06] {nemo} FAZ is showing strength though

[10:07] {ese} you watching any more like FAS Vad

[10:07] {Threei}  BAC is kind of similar

[10:07] {nemo} Due for the 10:00 am pullback

[10:08] {Threei}  US REP KANJORSKI: MARK-TO-MARKET ACCOUNTING HAD 'UNINTENDED' CONSEQUENCES; REGULATORS SHOULD 'LIBERALIZE' CAPITAL REQUIREMENTS

[10:08] {nemo} if FAZ hods a double bottom or clears 55...is that another Congressman who has anatomy identification problems?

[10:09] {nemo} Oh, we should get a pullback

[10:09] {Threei}  - Notes he is against an 'outright suspension' of mark-to-market accounting

[10:09] {dino} es you were right stld, i was wrong

[10:11] {ese} score ese 1...dino 3645....

[10:11] {Threei}  who is counting...

[10:11] {Threei}  I am pretty sure it just 3644 though

[10:12] {ese} oh ya......ya your right.......it's 3644

[10:12] {magoo} lol

[10:13] {Threei}  WMT TREASURER: THE CARD CHECK BILL IS ONE OF AN 'ANTI COMPETITIVE' NATURE; HOPEFULY THAT CONGRESS WILL 'GET IT RIGHT' AND DEFEAT THE BILL

[10:13] {magoo} he is consistant

[10:13] {magoo} dave wants him bad in bear

[10:13] {ese} i'll say

[10:15] {Threei}  GE

[10:15] {Threei}  50 cents

[10:15] {Threei}  out in full

[10:16] {Threei}  60, sorry

[10:16] {Threei}  enough is enough

[10:16] {dino} pcln partoal fill l .75

[10:16] {magoo} ahhhhh

[10:17] {magoo} server vad?

[10:17] {Threei}  13

[10:17] {dino} ok, wide things like pulp

[10:17] {magoo} euiw..unlucky

[10:17] {ese} one of the most well managed corporations in history GE.....just bizzare to see it 6 to 8 bucks

[10:18] {ese} 9 today

[10:18] {Threei}  US REP FRANK: FASB MUST PROVIDE GUIDANCE FOR MARK-TO-MARKET ACCOUNTING, CHANGES MUST BE MADE TO ENSURE FLEXIBILITY

[10:19] {nemo} Is anything going to pull back today? :)

[10:22] {dino} gild, cop, stld, rimm, cpla, v

[10:23] {dino} chtt

[10:23] {geo} MT vad?

[10:24] {Threei}  not sure

[10:24] {Threei}  something doesn't feel right here

[10:24] {Threei}  can't quiote put a finger on it

[10:25] {Threei}  US TREASURY'S GEITHER: RECESSION PLACING MORE PRESSURE UPON BANKS

[10:25] {Threei}  no really?

[10:25] {Threei}  people get paid for this?

[10:25] {nemo} You've lost your crown

[10:25] {dino} next he'll say, we are further into recession than last fall

[10:26] {nemo} Actually, or are banks putting pressure on the recession?

[10:26] {geo} TYC nice

[10:27] {Threei}  US REP BACCUS: CONGRESS MAY HAVE TO ACT AS A RESULT OF NEGATIVE EFFECTS OF MARK-TO-MARKET ACCOUNTING IF THE FASB AND SEC FAIL TO DO SO

[10:27] {nemo} Oh jeezus

[10:29] {dino} how is it that i have been complaining about this since oct., and they just now hear of it

[10:29] {Threei}  it's a giraffe effect dino

[10:30] {Threei}  too long neck... take s a long time for sounds to reach ears,

[10:30] {nemo} Yeah, but you don't want Congress acting on it

[10:30] {Threei}  food to reach stomach

[10:30] {Threei}  blood to reach brain

[10:30] {dino} m2m was like butteryfky effect

[10:30] {magoo} because u been complaining in this room and i do not believe timmy is a member, or barney

[10:30] {ese} who was it that was in on th QQQQ at .50???       nice one

[10:31] {nemo} Good point..."Dino goes to Washington"

[10:31] {magoo} me

[10:31] {magoo} q

[10:31] {ese} nice mags...you still in

[10:31] {elepet} good morning

[10:31] {geo} magoo focussed

[10:31] {dino} i am "unelectable"

[10:32] {geo} you cant lie?

[10:32] {nemo} You could go be Barney's "Page"

[10:32] {dino} lol, just don't care what others think

[10:32] {elepet} has anyone been watching PALM?

[10:32] {Threei}  elepet :)

[10:33] {Threei}  not really... PALM kind of escaped our attention with all the financials

[10:34] {elepet} oh dear. i shoould have mentioned it. 

[10:34] {nemo} Yeah, woul have been considerate of you

[10:36] {nemo} see MT dino?

[10:37] {dino} yes

[10:37] {dino} hmmmm

[10:37] {dino} going to hold lod?

[10:38] {nemo} can't tell yet 

[10:38] {magoo} what u got vad?

[10:38] {nemo} trend still of that JBI

[10:39] {nemo} market looks like it's strengthening though

[10:39] {Threei}  don't mags

[10:40] {magoo} ge can rip if IF futes

[10:41] {magoo} in GE .25

[10:42] {Threei}  looks determined

[10:43] {Threei}  9.36 is yesterday's high GE'

[10:45] {magoo} out .42 TY vad

[10:46] {Threei}  not sure for what but you are welcome

[10:46] {dino} v sm chtt l .55

[10:46] {Threei}  very impressive move from original call GE

[10:46] {Threei}  90 cents

[10:46] {Threei}  got 60 of them

[10:46] {magoo} a pe-emptive TY

[10:46] {Threei}  oh

[10:47] {nemo} Is the prez on?

[10:47] {Threei}  no

[10:47] {Threei}  we haven't seen him today

[10:48] {dino} sm l v .50 wide whippy

[10:52] {dino} give him time

[10:55] {Threei}  time to back off a bit guys

[10:55] {nemo} dino, did you get a piece of MT?

[10:55] {Threei}  feels to me, bigger pullback starts

[10:56] {dino} no, wanted lod

[10:56] {dino} nice pick tho

[10:56] {nemo} first broken clock moment today...only one more

[10:56] {dino} lol

[10:57] {dino} that piece of chtt i took is working

[10:57] {dino} no humor today i see

[10:57] {magoo} obama reprimands chinese foriegn minister today about high seas incident yesterday

[10:58] {dino} they are testing him

[10:58] {Threei}  yup

[10:58] {Threei}  and not only they

[10:58] {geo} we sent sub hunters there

[10:58] {geo} imagnie how freaked out we would be

[10:59] {geo} i would say pentagon testing prez

[10:59] {dino} then say it

[10:59] {geo} "pentagon testing prez"

[11:00] {dino} lol

[11:00] {nemo} I went to get coffee dino

[11:01] {nemo} geo...we've had russian listening ships off the coasts forever...just part of the game

[11:01] {geo} i agree

[11:01] {Threei}  ok guys, ready to try short?

[11:01] {Threei}  with possible stop or two until we get it right

[11:01] {geo} but we kinda look foolish getting caught and then reprimanding them

[11:01] {Threei} Short Setup: GE  .40 breakdown

[11:01] {dino} difference is, reagan and both bush's would stand up, obamination will roll over like a beat dog

[11:01] {Threei}  if stays under .50

[11:02] {dino} iran and china stepping up pressure

[11:02] {geo} nothing like the grat gam

[11:02] {geo} e

[11:02] {dino} the game, the game, nothing quite the same, all that really matters is the game

[11:03] {magoo} GE is sick strong

[11:03] {nemo} the game cost a lot of sailors on the Kursk their lives

[11:03] {Threei}  well, it had a great run, now it started making lower highs

[11:03] {Threei}  and breaking supports

[11:03] {fernp} in GE

[11:03] {magoo} yup

[11:03] {magoo} in

[11:04] {dino} out pcln .15, +.40

[11:04] {Threei}  could be just a little bull flag of course

[11:04] {Threei}  but with 10 cents stop?

[11:04] {dino} no disrespect intended

[11:04] {Threei}  how else to you make money if you don't try valid setups

[11:04] {magoo} agree

[11:05] {Threei}  NDAQ CEO: UPTICK RULE CAN BE REINSTATED IF IT IS CONCEIVED AND INSTURMENTED PROPERLY

[11:05] {Threei}  - Does not see a impact on trading volumes if uptick were to be reapplied

[11:05] {Threei}  - CFTC and SEC should be merged

[11:05] {Threei}  - Concept of a stamp tax on trading is bad idea, would hurt liquidity

[11:06] {nemo} should GE be a scalp on such a strong day?

[11:06] {Threei}  I'd high five him

[11:06] {Threei}  can't tell nemo... let's make it personal preference

[11:06] {Threei}  I will partial out

[11:06] {Threei}  but I have 60 cents win under the belt

[11:07] {Threei}  a lot of room to let some of profits evaporate

[11:07] {Threei}  1:1 is coming

[11:07] {fernp} out here ty

[11:07] {Threei}  welcome

[11:07] {Threei}  covered half

[11:07] {dino} gj

[11:08] {magoo} not thanking u cause i pre-empt ty earlier ok?

[11:08] {Threei}  yes, it's fair

[11:08] {Threei}  stop to .42 for the balance

[11:11] {Threei}  hey!!!

[11:11] {Threei}  guess what

[11:11] {nemo} prez

[11:11] {Threei}  guessed, no?

[11:11] {pita} its the pres

[11:11] {Threei}  yup

[11:11] {Threei}  life is back to normal

[11:11] {pita} never a day goes by......

[11:12] {dino} looks stoned

[11:12] {magoo} now if mkts could only tank lol (NOT)

[11:13] {Threei}  I think markets got dissensitized mags

[11:13] {Threei}  if that's a word

[11:15] {Threei}  US HOUSE SPEAKER PELOSI: THERE IS NOT MUCH CHANCE OF A SECOND STIMULUS PACKAGE IN THE SHORT TERM

[11:15] {Threei}  - Reminder: On 3/11 White House Chief Economist Romer said it is "too early" to consider a second stimulus package.

[11:15] {Threei}  how come they even talk about it?

[11:16] {Threei}  what could possibly be more idiotic than second package while first hasn't even started being implemented

[11:16] {geo} judge says go to jail immediately.... see you at sentencing

[11:16] {nemo} stopped GE

[11:16] {Threei}  Madoff is going to prison immediately

[11:16] {Threei}  hmm?

[11:16] {Threei}  nemo... just now?

[11:17] {geo} dont hink he adjusted stop

[11:17] {Threei}  we hit 1:1, covered half at least

[11:17] {Threei}  stop moved to .42

[11:17] {nemo} I didn't catch 1:1

[11:17] {Threei}  so what

[11:17] {Threei}  it was reached, stop must have been moved

[11:17] {nemo} yep stupid

[11:18] {Threei}  it's a routine

[11:18] {Threei}  just a procedure to follow

[11:18] {Threei}  OK, this is not something you hear often these days:

[11:18] {Threei}  GM

[11:18] {Threei}  DOES NOT NEED $2B IN NEW FUNDS TO SURVIVE MARCH, COMPANY WIDE COST CUTS HAVE PROVEN HELPFUL

[11:18] {Threei}  - Told US task force that previoulsy requested funds were not needed

[11:19] {Threei}  I say keep GM, dump AIG, FRE, FNM

[11:19] {Threei}  SEC: REGULATORS MAY MOVE ON MARK-TO-MARKET AND FAIR VALUE ACCOUNTING WITHIN WEEKS

[11:19] {Threei}  - FASB: Will have proposal within 3 week

[11:19] {dino} i say give gm to the union

[11:20] {Threei}  andf let them try to manage it? :)

[11:20] {Threei}  good idea

[11:21] {geo} news on AU?

[11:21] {geo} other gold stocks not rising so much

[11:21] {Threei}  no

[11:21] {nemo} GE again vad

[11:22] {Threei}  don't have read here

[11:23] {Threei}  double top at .55... with no clear entry point though

[11:28] {nemo} If GE drops below .20?

[11:29] {nemo} ehh...23?

[11:31] {dino} out chtt .30, +.75

[11:31] {dino} spiked

[11:33] {Threei}  GE, .31 for short if stays under .35

[11:33] {Threei}  tiny stop

[11:37] {ese} Am outa here for a while.....hopefully back in an hour...."catch you on the flip side"...whens the last time you heard that eh?

[11:37] {nemo} hehehehehe

[11:38] {Threei}  we will be here ese

[11:38] {nemo} last time I used my discwasher

[11:38] {Threei}  I promise

[11:38] {ese} see you in a bit

[11:39] {Threei}  WFC nice selling

[11:39] {Threei}  GE doesn't follow the suit so far

[11:39] {nemo} market strength too

[11:39] {Threei}  not very convincing

[11:39] {Threei}  volume is lame

[11:39] {nemo} no, but holding things up

[11:39] {Threei}  yeah

[11:40] {nemo} people aren't feeling the nee to sell before they go to lunch

[11:41] {dino} magoo, i need warp speed in 10 or your fired!

[11:43] {nemo} Mmmh...Dow volume good. NAS average, S&P 120% advances slightly ahead of decliners...still consolidating

[11:44] {nemo} Two big things in the offing....M2M adjustment, and Barney's new regulatory scheme...all in April

[11:45] {nemo} Dino, MT looks like it wants to close the gap

[11:47] {dino} maybe so

[11:47] {dino} prefer it around 18.70

[11:47] {dino} chtt flush

[11:49] {Threei}  in case this is a little pullback and new spike is coming:

[11:49] {Threei}  argh, late

[11:49] {Threei}  ok, it's back

[11:49] {Threei} Long Setup:  RIMM  40 break

[11:50] {Threei}  if stays above .85

[11:50] {Threei}  and

[11:50] {Threei}  .long wfc .10 if sdtays above 12

[11:50] {Threei} Long Setup:  WFC  .10 if sdtays above 12

[11:52] {Threei}  RIMM 1:1, half out

[11:52] {Threei}  scalpers know what to do

[11:52] {Threei}  stop to .95

[11:53] {fernp} in WFC

[11:54] {Threei}  almost hit 1:2 RIMM

[11:54] {dino} fasb chair., proposal in 3 weeks m2m issue

[11:54] {Threei}  good morning dino :)

[11:54] {nemo} hehehehehe

[11:54] {Threei}  IRANIAN OPEC MINISTER: OPEC OUTPUT IS CURRENTLY LESS THAN DEMAND, OPEC IS NOT HAPPY WITH CURRENT PRICES

[11:54] {Threei}  - OPEC could cut output if it really wants oil to return to the $75 level.

[11:55] {dino} hmmmm, sarcasm

[11:55] {Threei}  as idf you didn't expect it from us

06[11:56] * nemo slaps dino around a bit with a large with a tape of the earlier log

06[11:56] * dino slaps nemo around a bit with a large trout

[11:56] {nemo} that's almost fratricide

[11:58] {Threei}  WFC is tired

[11:58] {fernp} stopped WFC

[11:58] {Threei}  RIMM holding like champ

[12:00] {dino} v stop to .70 tougie

[12:01] {dino} to .75

[12:01] {Threei}  (US) US HOUSEHOLD NET WORTH -15% Y/Y TO $65T IN 2008, FIRST FALL IN FOUR YEARS

[12:02] {dino} to .90

[12:03] {_skylan8} if RIMM is holding here is this a good place for entry?

[12:03] {dino} reverse slip out .93, +.43

[12:03] {nemo} looks like RIMM might slip here

[12:03] {Threei}  only if market spike sharply skylan

[12:04] {Threei}  WFC shaleout...

[12:04] {_skylan8} thnks

[12:04] {nemo} is that shakeout or scaleout?

[12:04] {Threei}  FASB HERZ: AN UNNAMED LARGE FINANCIAL FIRM HAS REMOVED ILLIQUID ASSETS AT VERY LOW PRICES

[12:05] {Threei}  SOME LOANS HAVE BEEN OVERSTATED BY SOME COMPANIES

[12:05] {nemo} does that mean they sold them?

[12:08] {dino} who knows

[12:09] {dino} just don't believe anything

[12:09] {Threei}  - Herz remaedks that companies may conduct cash flow models in order to create a value for certain distressed assets in lieu of fire sale prices

[12:09] {nemo} I've been seeing "stories" about private equity wanting to buy some of it

[12:10] {nemo} So...they'll treat them like commercial real estate...only thing, how do they identify what's in the bonds?

[12:10] {dino} they are lining up from what i read, getting govt guarantees on it, fortunes to be made over time

[12:11] {nemo} gotta' love it, the taxpayer subsidizes fortunes

[12:11] {dino} if you do not have stockholders/public, you don't have to m2m it

[12:12] {dino} no different than buying a house from a bank that foreclosed on it, most likely its worth mmuch more

[12:12] {nemo} Yeah, so they make the money and the taxpayer takes the risk

[12:12] {dino} you can do it too nemo

[12:13] {dino} just not the big chunks

[12:13] {Threei}  is this what "mortgage pools" are doing?

[12:13] {nemo} I'm all ears....for a fish that is

[12:14] {Threei}  1/4 more out RIMM .26

[12:14] {dino} the banks are in panic mode, think they are owed $100k on a house that in todays market still goes for $150. they will sell it after its foreclosed for 80% of that. the regulators count it as a $180k swing. 

[12:14] {dino} so you get a 150k house for 80k

[12:15] {nemo} Some, but now some who are subsidized by the feds are putting houses on the market...if they get 5 or 6 bids, they're pulling them and putting them back on the market a week later for higher prices.  No urgency to clean up when you can go to the Feds for handouts

[12:16] {dino} it is what it is, but it is a lot of opportunity too

[12:16] {nemo} no argument, just the taxpayer takes it...no surprise

[12:17] {dino} pfe out .65, +.50

[12:17] {Threei}  stop to under .10 for last portion of RIMM

[12:17] {dino} most of the taxpayer cannot understand it 

[12:17] {Threei}  want spike into .40 - .50 for final exit

[12:18] {Threei}  frikin WFC fooled us

[12:20] {fernp} BAC breaking hod

[12:21] {Threei}  slow creep up... BAC, FAS

[12:24] {Threei}  (US) TREASURY SEC GEITHNER: LARGE INSTITUTIONS NEED MUCH STRONGER REGULATION, THE GOVERNMENT REQUIRES A SYSTEM FOR UNWINDING LARGE BANKS

[12:24] {Threei}  - Plans to lay out "relatively detailed, concrete proposals" on March 26th, ahead of Congressional testimony.

[12:24] {Threei}  - Notes that Treasury may be able to begin the bank asset purchase program using existing resources from TARP program

[12:24] {Threei}  another plan at another date?

[12:25] {Threei}  then he comes out and says "oh we have a plan, it's just not detailed yet"?

[12:25] {Threei}  timmy.... this is so not terrific

[12:27] {Threei}  btw... was Cramer yesterday on Stewart's show?

[12:27] {nemo} 2nite

[12:27] {Threei}  or it was a rumor?

[12:27] {Threei}  ah, ok

[12:27] {nemo} 8:00 your time

[12:27] {magoo} who is stewart? 

[12:27] {Threei}  don't have your comedy channel

[12:28] {Threei}  guy who ripped cramer and whole cnbc new one, mags

[12:28] {nemo} John Stewart....well, should be utubed

[12:28] {Threei}  yeah, will wait for it to be posted

[12:28] {nemo} Should be posted within seconds

[12:28] {Threei}  you didn't see that hilarious segment mags?

[12:29] {magoo} no

[12:30] {Threei}  http://www.youtube.com/watch?v=IuksmNLDpdM

[12:30] {Threei}  enjoy, this is thing of beauty

[12:36] {Threei}  Space station is being evacuated

[12:36] {Threei}  is it euphemism for "they couldn't refinance their mortgage and are being evicted"?

[12:37] {dino} back to march hoighs

[12:37] {Threei}  BAC .47 yesterday's high

[12:41] {magoo} TOO FUNNY VAD

[12:43] {pita} later everyone

[12:43] {Threei}  take care pita

[12:44] {Threei}  strong feeling that we are going to see new highs today

[12:44] {nemo} nothing is pulling back

[12:45] {Threei}  no... FAS and BAC are digesting highs

[12:45] {nemo} RiMM GE 

[12:45] {Threei}  I'd like to see bigger volume though

[12:45] {nemo} BAC

[12:45] {nemo} well  FAZ is down :)

[12:52] {dino} cedc l .10

[12:55] {nemo} Vad, did you close out RIMM over .50?

[12:55] {Threei}  no, last portion got taken on trailing stop

[12:56] {Threei}  FAS new high

[12:56] {Threei}  feels like this slow grind will churn us higher and higher

[12:57] {magoo} USO spikarollla

[12:57] {nemo} wfc just completed big cup

[12:58] {fernp} GE also breaking hod

[12:58] {cosmo} back ...oh no... i missed 28 ..... i just had to be the sacrificial lamb ...again...

[13:00] {Threei}  BAC CEO: NATIONALIZING BANKS WOULD 'UNDERMINE SYSTEM'; FALLOUT WOULD BE A 'NIGHTMARE'

[13:01] {cosmo} for him ...yeah

[13:01] {dino} yes, he would lose his job

[13:01] {dino} lol;

[13:03] {Threei}  - Sees current profitability 'forestalling' need for additional capital from US Govt

[13:05] {_skylan8} if FAZ breaks 4.51 would this be a good entry point?

[13:05] {Threei}  FAS you mean?

[13:05] {_skylan8} yes

[13:05] {Threei}  only if you have a lot of patience

[13:05] {Threei}  this one is better on pullbacks

[13:06] {Threei}  and moves slowly

[13:06] {_skylan8} ok

[13:07] {Threei}  BAC new high

[13:09] {Threei}  the problem with breakouts on this kind is,

[13:09] {magoo} teleportation

[13:09] {Threei}  it makes a small move afer the break, not enough to take profit

[13:10] {Threei}  then starts dancing around,

[13:10] {Threei}  pulls back,

[13:10] {Threei}  shakes you out

[13:10] {Threei}  and only then continues

[13:11] {Threei}  pullback entries give you better cushion this enabling you to sit through the dane

[13:11] {Threei}  dance

[13:13] {dino} cedcstop to .21

[13:14] {nemo} we need some bad news...but what could be worse than what's been coming

[13:14] {dino} to .23 stingy

[13:15] {nemo} for pullbacks, that is

[13:15] {dino} out .24, +.14

[13:15] {Threei}  see what I mean on FAS skylan?

[13:16] {Threei}  like pulling tooth

[13:17] {_skylan8} yes

[13:17] {Threei}  something's missing today...

[13:18] {Threei}  oh, I know

[13:18] {nemo} Prez has only been on once

[13:18] {Threei}  we've seen prez on tv just once

[13:18] {Threei}  yep

[13:19] {Threei}  GE goes for 10?

[13:23] {Threei}  LOL

[13:23] {Threei}  HD

[13:23] {Threei}  COMPANY 'PLEASED' WITH PERFORMANCE IN CHINA, UNCERTAIN WHETHER EXECUTING CORRECT BUSINESS MODEL

[13:23] {Threei}  translation:

[13:23] {Threei}  we have no idea what we are doing but so far it seems to work

[13:24] {Threei}  much better that goverment's version:

[13:24] {Threei}  we have no idea what we are doing and it's not working

[13:27] {nemo} Well, will this have to suffice as a pullback?

[13:28] {Threei}  FAS support is just 5 cents away

[13:28] {Threei}  why not

[13:28] {Threei}  if GS breaks 94.50, both FAS and BAC should make new highs

[13:29] {Threei}  yessss!!!!

[13:29] {Threei}  gues what!

[13:29] {nemo} PREZ!!!

[13:29] {nemo} no?

[13:29] {Threei}  yup

[13:31] {Threei}  seriously... can you believe it?

[13:31] {nemo} I'm taking your word for it, I don't watch TV as a rule

[13:32] {Threei}  come on GS go for it and pull us up

[13:37] {Threei}  here comes GS

[13:38] {Threei}  if you took that pullback on FAS, you are at 1:1 here, lol

[13:38] {nemo} and the broker took half

[13:38] {Threei}  new high FAS

[13:39] {Threei}  main point is, it's way less stressful way to play this one

[13:39] {vinod} faz

[13:40] {magoo} i just took GS .15 to .46

[13:40] {magoo} from u vad

[13:40] {Threei}  SEN DODD: LOOKING TO GET ADOPTION FOR MORTGAGE CRAMDOWN LEGISLATION WITHIN NEXT FEW WEEKS

[13:40] {Threei}  what can I say mags

[13:40] {Threei}  you are a predator

[13:40] {Threei}  CHRYSLER SAYS ITS RESTRUCTURING PLANS REMAIN ON TARGET; NO COMMENT ON GOVT AID

[13:41] {Threei}  .50 broken

[13:41] {magoo} i figured if it goes up i should be in it

[13:41] {Threei}  FAS new high

[13:41] {Threei}  next should be BAC

[13:41] {Threei}  you are at 1:2 nemo

[13:43] {Threei}  with decent shares it's already worth the trobules

[13:43] {nemo} yeah...if you played a few thousand

[13:43] {Threei}  with huge liquidity and 5 cents stop, why not?

[13:44] {nemo} true

[13:44] {nemo} GS about to compete the wedge up?

[13:44] {Threei}  it's 5 cents for, as dawg says, chrisssakes

[13:44] {nemo} I thought that was only on RIMM?

[13:44] {Threei}  on 5K shares it's $250 stop

[13:45] {nemo} GS pulling back

[13:45] {Threei}  also, keep in mind,

[13:46] {Threei}  at least on the exit side try to offer your shares, not hit the bid

[13:46] {Threei}  ECN passthrough will significantly reduce commissions

[13:53] {Threei}  new high FAS

[13:53] {Threei}  and pulls BAC with it this time

[13:54] {Threei}  FAS 1:3

[13:54] {Threei}  BAC

[13:54] {Threei}  CEO ECHOES CITI AND JPM CEO'S WHEN NOTES CO. PROFITIABLE IN FIRST TWO MONTHS OF 09

[13:56] {magoo} i have appt..be back hour

[13:57] {dino}  me thinks they protest too much (remembering the constant "we don't need to raise capital" calls)

[13:57] {Threei}  anyone played either FAS or BAC?

[13:57] {Threei}  lol, yes dino

[13:57] {magoo} i did bac vad

[13:57] {magoo} ty outtta here

[13:57] {Threei}  :)

[13:57] {Threei}  this is the only way to play this slow grind

[13:58] {Threei}  try to buy breaks, you'll be chewed and spat out

[14:08] {Threei}  FAZ is a widowmaker

[14:09] {Threei}  from 115 to under 50 in three days?

[14:10] {Threei}  if they adopt m2m change and FAS rockets, does FAZ fo to zero?

[14:12] {wulff} how quickly things change

[14:12] {wulff} FAS to FAZ

[14:13] {nemo} looks like things going vertical

[14:13] {dino} cedc l .25

[14:23] {dino} pfe thru .00?

[14:25] {nemo} like moths to a flame dino?

[14:26] {dino}  rats to cheese

[14:26] {nemo} bees to honey

[14:26] {dino} flies on a rib roast

[14:27] {nemo} blew right through?

[14:27] {nemo} coyote's to carcasses

[14:27] {nemo} actually flies to somethin' else

[14:28] {dino} lol

[14:28] {nemo} white on rice?

[14:28] {nemo} Vad to vodka...

[14:29] {Threei}  lol

[14:29] {Threei}  that would be dptl

[14:29] {nemo} and me

[14:29] {nemo} glass houses an all

[14:30] {nemo} so vad, what market treachery lies ahead today?

[14:30] {Threei}  on a sideline now

[14:30] {nemo} ahhh

[14:33] {dptl} i think i should change my nick to "Stoli" :)

[14:33] {nemo} mine should be "iron liver"

06[14:35] * Threei is now known as Embodiment of Sobriety

[14:35] {nemo} Gonna run for office Va?

[14:36] {nemo} Vad?

[14:37] {dptl} ok...finishing early today....have a good evening all

[14:38] {Threei}  take care stoli... errr, dp

[14:38] {nemo} Well, since the arket will be up today, any bets on whether FAS sees 5?

[14:39] {Threei}  nope

[14:39] {nemo} wow...

[14:42] {dino} close positive?

[14:42] {Threei}  lol... yes

[14:43] {dino} :)

[14:43] {dino} have to give you that one

[14:44] {Threei}  at this rate it won't take long for FAZ to go to zero

[14:46] {dino} pull up a 5 day skf

[14:46] {Threei}  yeah

[14:48] {nemo} dino, 300 dji?

[14:50] {dino} +11% since mondays' lows

[14:50] {dino} -13% was triggering rallies on the downside

[14:51] {Threei}  5 cents till nemo proves me wrong

[14:52] {nemo} no proof of anything, just asked you if you want to bet, and didn't say which side i take, so you're off the hook

[14:52] {Threei}  whew

[14:52] {nemo} got your back Vad

[14:53] {Threei}  ty

[14:53] {dino} out cedc .39, +.14

06[14:53] * Threei feels a knife between shoukderblades

[14:54] {nemo} why?

[14:54] {dino} hot knife thru butter

[14:54] {Threei}  watch FAS here

[14:54] {Threei}  likely to drop sharply into .80

[14:55] {nemo} full lot

[14:55] {magoo} back..what we stalking..just fas

[14:55] {Threei}  yeah

[14:55] {nemo} this is mags kinda' hunting

[14:56] {magoo} man..missed move

[14:57] {magoo} bac .70, wfc 13ish

[14:57] {magoo} spy over 75

[14:58] {nemo} bummer

[15:00] {nemo} orderly descent

[15:01] {Threei}  cancel .80 as bottom of pullback

[15:01] {Threei}  likely to go lower

[15:01] {nemo} look at the bid at .86 on fas

[15:01] {Threei}  ?

[15:01] {Threei}  what about it?

[15:01] {nemo} orders really piling up

[15:02] {nemo} compared to offer

[15:02] {Threei}  don't put any significance in sizes on these thick stocks

[15:02] {nemo} o.k

[15:03] {Threei}  see how easy it was to cut through?

[15:03] {nemo} yes

[15:03] {nemo} reget to heavy resistance at .75?

[15:03] {nemo} get

[15:04] {Threei}  resistance?

[15:04] {nemo} duh..support

[15:04] {Threei}  why is it heavy?

[15:05] {nemo} road that line for 1/2hour

[15:05] {Threei}  I don't feel it's going to hold

[15:05] {Threei}  .65 - .70 zone is more likely to provied a bounce

[15:05] {Threei}  no new highs, just a bounce

06[15:08] * magoo slaps laserdave around a bit with a large trout

[15:10] {nemo} Stt took a nice dive

[15:13] {wulff} looks like .80 was it 

[15:14] {nemo} not 4 yet

[15:14] {Threei}  yeah, stronger than I expected

[15:14] {nemo} All's right with the world again...what can go wrong

[15:15] {i2romantis} yep, what a great day in overall

[15:15] {Threei}  just one thing is not complete for the day

[15:16] {Threei}  who'll guess?

[15:16] {nemo} Oh oh

[15:16] {nemo} no one said 'ally!

[15:16] {i2romantis} i got out at .96

[15:16] {Threei}  from?

[15:16] {Threei}  no nemo

[15:16] {i2romantis} fas

[15:16] {i2romantis} in .81, out .96

[15:16] {nemo} prez only on twice?

[15:16] {Threei}  good one i2r

[15:16] {i2romantis} i wonder if it hits 5

[15:17] {Threei}  now you got it nemo

[15:17] {i2romantis} thx

[15:17] {Threei}  three time per day is more norm

[15:17] {nemo} Life's not the same without bigbro...the Messiah...being on TV all day

[15:17] {i2romantis} done, wow

[15:17] {Threei}  5

[15:18] {nemo} Well, Vad, one of us lost the bet we didn't make

[15:18] {Threei}  lol

[15:28] {Threei}  STT tough fight

[15:29] {Threei}  wants to bounce and can't decide

[15:29] {Threei}  market's helping those

[15:29] {Threei}  half lot with stop under .90

[15:30] {i2romantis} nice call

[15:30] {dino} tap l .10

[15:30] {Threei}  look for exit around .30

[15:31] {Threei}  there you go

[15:31] {Threei}  easy 25 cents

[15:35] {magoo} ty vad..got .66 stt

06[15:36] * Threei slaps magoo around a bit with a large roll of cash

[15:37] {magoo} just laid it out there are said 3 hail marys

[15:37] {Threei}  .66?

[15:37] {Threei}  I didn't see it getting that high

[15:37] {magoo} yea

[15:37] {magoo} yup just confirmed

[15:37] {Threei}  must have missed

[15:38] {magoo} oh shit.47..got ,66 on WFC

[15:38] {magoo} i got alot going

[15:38] {Threei}  lol

[15:40] {wulff} double bottoms don't usually look so easy to trade...

[15:40] {i2romantis} fas is doing good

[15:40] {nemo} probably got nother spike in it...this is Dino's favorite time of day

[15:40] {Threei}  as STT did you mean, wulff?

[15:41] {wulff} yup

[15:41] {Threei}  in this particular case market spike helped

[15:41] {Threei}  right when STT hesitated

[15:41] {wulff} ok

[15:41] {wulff} quick eyes I guess

[15:44] {Threei}  all three of them

[15:45] {Threei}  +235

[15:45] {Threei}  not huge, but third day in a row

[15:45] {Threei}  nice to see

[15:45] {Threei}  dino's rule is broken

[15:46] {nemo} FAS over 6 tomorrow...

[15:46] {i2romantis} out fas at 5.15 as planned

[15:46] {i2romantis} would be nice to see it at 6

[15:47] {nemo} I think all the talk about adjustments to M2M will let them run for awhile

[15:47] {nemo} Now all these companies are saying they don't need Federal money

[15:48] {dino} because feds telling them what to do

[15:48] {Threei}  we can only guess

[15:48] {Threei}  no one saw thewir books

[15:48] {Threei}  no one knows what's in there

[15:48] {nemo} yeah, just like some of the banks didn't need it in the fall, but free money is free...now it's got strings...true

[15:49] {dino} there is no free lunch

[15:49] {patience} and they want to follow the money paid to offshore bank accounts

[15:49] {Threei}  remember? things are never as good as they look and never as bad as they look

[15:49] {magoo} or as fat as they look

[15:49] {i2romantis} lol

[15:49] {magoo} well, maybe dino

[15:49] {dino} tap to flat

[15:49] {dino} hey i'm down 8

[15:49] {Threei}  who knows, maybe we overstate bad side now jist we overstated good one a few years ago

[15:50] {wulff} So this up day is not happening?

[15:50] {Threei}  lol

[15:50] {Threei}  no wulff

[15:50] {Threei}  and anyone who made money on a long side today must give it back

[15:50] {patience} nope

[15:50] {wulff} (been long FAS for a few days)

[15:51] {Threei}  ideally, we get some pullback or gap down tomorrow, then chatter resumes and we get continuation

[15:51] {Threei}  6 wouldn't be out of question

[15:52] {wulff} I'm thinking 12

[15:52] {Threei}  well, not tomorrow :)

[15:52] {wulff} I'm patient

[15:52] {Threei}  let's take it one day at a time

[15:52] {Threei}  things change fast

[15:52] {wulff} My chair swivels

[15:52] {Threei}  today's darlings are tomorrow's POSs

[15:52] {dino} still watching those monday close gaps

[15:53] {magoo} and dinos minus 8 could easily be plus 3 tomorrow

[15:54] {dino} to .14 tap case of beer

[15:54] {dino} 7 of 7 today, odds going against me for a.m.

[15:56] {magoo} wow...seven of 7

[15:56] {magoo} NICE

[15:56] {dino} out tap

[15:56] {fernp} see you tomorrow. Have a nice evening all

[15:56] {Threei}  take care fern

[15:57] {dino} wow, glad i trailed tight

[15:58] {Threei}  okay guys

[15:59] {Threei}  fairly nice day

[15:59] {Threei}  thank you all

[15:59] {magoo} ty vad

[15:59] {Threei}  have a good evening, see you tomorrow

[15:59] {vint} Thanks Vad, bye all

[16:00] {dino} gn all, gotta hop early, baseball mtg

[16:00] {dino} apei

[16:03] {i2romantis} thx Vad, gnight all

Mar 11 2009

 Happy day for my broker. Pretty much empty day for me. A lot of churning, win here, stop there - finishing the day about flat while raking a lot of shares turned out. Just one of those days.

Session Time: Wed Mar 11 00:00:00 2009

[08:51] {magoo} morning

[08:52] {Threei}  good morning

[08:52] {dptl} good morning

[08:52] {Threei}  fess up mags... took FAS overnight?

[08:52] {Threei}  d :)

[08:52] {magoo} been taking kids to school this week...throwing me off schedule

[08:53] {magoo} no vad...i havent taken a stock over nite in 14 months

[08:53] {magoo} really

[08:53] {magoo} ill play premkt or post mkt

[08:57] {Onix} Good morning

[08:57] {Threei}  onix :)

[08:58] {pita} morning all

[08:58] {magoo} working theory this morn vad?

[08:59] {Threei}  pita :)

[08:59] {Threei}  pullback, consolidation, breakout, rally

[09:00] {magoo} u know...i was thinking same but worded different..pop...drop...pop....rock

[09:00] {Threei}  well... that wording requires less letters and syllables

[09:00] {Threei}  and gods know I am all for simplicity and short words

[09:01] {Threei}  BCON

[09:01] {Threei}  CONFIRMS FULL ENVIRONMENTAL APPROVAL FROM U.S. DEPARTMENT OF ENERGY FOR 20 MEGAWATT FLYWHEEL PLANT

[09:01] {Threei}  that dog is still barking?

[09:05] {KSystems} Hi!

[09:05] {Threei}  ks :)

[09:05] {dino} gm all

[09:06] {dino} so used to end of days, not sure what to read here

[09:06] {dino} online edu's getting hit

[09:07] {Threei}  dino :)

[09:07] {Threei}  well, if we get continuation, that will be a first time in ages

[09:08] {magoo} dow ..s&p only 4 up sessions out of last 17...i dont believe we had 2 in a row

[09:08] {ese} morning all

[09:10] {dino} :)\

[09:12] {Onix} hi ese :)

[09:12] {Threei}  ese :)

[09:12] {ese} morning vad

[09:13] {ese} winnipeg cold lately.....for this time of year

[09:14] {Threei}  well... a bit too cold here too

[09:14] {Threei}  where is al gore

[09:15] {cosmo} had to close some windows here last nite

[09:16] {geo} good morning

[09:16] {Threei}  geo :)

[09:17] {ese} geo

[09:18] {tomg} good morning

[09:19] {Threei}  tom :)

[09:23] {dino} seems too giddy

[09:23] {Threei}  yeah

[09:23] {Threei}  I'd prefer pullback and consolidation to trust the breakout

[09:23] {cosmo} ...if QQQQ has high volume follow thru as it cuts through 28 .... we bottomed  imho

[09:23] {Threei}  break right out of the gate is too likely to fail

[09:24] {pita} watching what?

[09:24] {dino} still not liking yesterdays gaps, imo they will fill at some point

[09:24] {Threei}  FAS, WFC, BAC

[09:24] {Threei}  USB

[09:25] {ese} I would agree with you cos......pretty significant resistance there though

[09:25] {cosmo} yeah ... 

[09:25] {magoo} dino,,they will fill be may take a wek

[09:26] {magoo} week

[09:26] {ese} solid double botom if thats the case

[09:26] {cosmo} 25.05 = QQQQ low

[09:27] {dino} in my best, "so i married an ax murderer" voice... "untrusting"

[09:27] {Threei}  either double bottom, or inverted C&H, ese

[09:27] {Threei}  (US) TREASURY'S KASHKARI: CAN NOT MICRO-MANAGE US BNAKING INSTITUTIONS THAT HAVE RECIEVED GOVERNMENT FUNDS

[09:28] {Threei}  FAS liking it

[09:30] {Threei}  if STT remains true to its form, pullback to 20 or under is likely

[09:30] {Threei}  then sizeable bounce

[09:30] {Threei}  sharp selling at the open... good

[09:32] {cosmo} ASML 16.76 hod    fwiw

[09:32] {Threei}  FAS, want to start building position near 4

[09:33] {nemo} umbrella today?

[09:33] {Threei}  quite posasible

[09:33] {Threei}  3.90 nearest support

[09:33] {Threei}  first strength from here

[09:34] {magoo} pretty  good pull

[09:34] {nemo} so much for the rally

[09:34] {ese} i'm likin 

[09:34] {ese} fas 

[09:34] {ese} as well

[09:35] {Threei}  not yet but very close

[09:35] {nemo} Is Obama speaking?

[09:35] {magoo} lol

[09:35] {dino} mcd

[09:35] {dino} ice

[09:35] {nemo} next support 3.75

[09:36] {Threei}  .81 long

[09:36] {Threei}  in

[09:36] {Threei}  .74 stop

[09:36] {geo} in

[09:36] {nemo} in

[09:36] {Threei}  missed STT... crap

[09:37] {magoo} in

[09:37] {geo} out half

[09:37] {Threei}  out half .93

[09:38] {Threei}  out 1/4 more 4.01

[09:39] {dino} mcd sm l .25

[09:39] {magoo} full out .02 TY VAD

[09:39] {Threei}  stop 3.79 for the last piece

[09:39] {Threei}  welcome mags

[09:40] {fernp} Hello everybody

[09:40] {Threei}  fern :)

[09:40] {geo} all out .08 thanks vad

[09:40] {Threei}  geo :)

[09:41] {Threei}  out last piece

[09:41] {pita} +.20 ty

[09:41] {Threei}  pita :)

[09:42] {geo} hmm NRG crashing DVN rising

[09:44] {Threei}  US CHAMBER OF COMMERCE CEO: MARK TO MARKET ACCOUNTING WAS NOT RESPONSIBLE FOR THE FINANCIAL CRISIS

[09:44] {geo} what????

[09:45] {geo} he should have taken it an run

[09:47] {Threei}  pullback time

[09:48] {Threei}  WFC, watching for entry on pullback

[09:48] {Threei}  .20 zone would be nice

[09:49] {Threei}  if never loses .40, long trigger for breakout is .51

[09:49] {magoo} ok

[09:49] {nemo} Why .51 when high .60?

[09:49] {Threei}  FAS, 4.05 zone to watch for re-entry

[09:49] {magoo} spy nears 73 and we bouince..good long imo

[09:50] {magoo} lets see if pulls back

[09:50] {Threei}  it bumed on .50 couple times before pulling back deeper, want semiagressive entry

[09:50] {magoo} futes going up

[09:51] {Threei}  yeah, shallow pullback

[09:51] {magoo} in wfc .49

[09:51] {Threei}  stop under .35 mags

[09:52] {magoo} out

[09:53] {magoo} lil early

[09:53] {Threei}  on both sides

[09:54] {magoo} yea

[09:59] {magoo} c'mon bulls

[09:59] {Threei}  pullbacks look better

[10:00] {magoo} traders uncertain here

[10:00] {Threei} Long Setup:  WFC  .41 if stays above .30

[10:01] {ese} you thinkin re entry on FAS vad

[10:01] {geo} invalid?

[10:02] {Threei}  SEC'S SHAPIRO: WIL CONSIDER STEPS TO RESTRICT VOLATILITY IN MARKETS

[10:02] {Threei}  yes

[10:02] {Threei}  hmmm

[10:02] {geo} ban magoo

[10:02] {Threei}  restrict volatility?

[10:02] {geo} yup

[10:02] {Threei}  market is not going to like it

[10:02] {geo} him and his 100 lots

[10:03] {Threei}  overall yes ese, but no clear idea yet

[10:04] {Threei}  (US) GEITHNER: TO URGE DECISIVE ACTION DURING G20 MEETING

[10:05] {Threei}  WFC setup is back

[10:06] {nemo} in

[10:06] {geo}   you in vad?

[10:07] {cujo} in

[10:07] {Threei}  yes

[10:07] {geo} stop?

[10:07] {Threei}  same under .30 for scalpers

[10:07] {Threei}  under .25 for day traders

[10:07] {geo} i missed now thinking

[10:07] {Threei}  I missed priginal break too, got .37 on the way back

[10:07] {geo} :)

[10:08] {ese} was lookin at something else and missed first FAS entry

[10:08] {geo} i was in DE on pullback ... got distracted

[10:08] {Threei}  a lot of hesitance here in the market

[10:09] {cujo} stop

[10:09] {Threei}  hard to tell whether it's a shakeout moment or market is fizzling out

[10:15] {vint} good morning everyone

[10:15] {magoo} vint:)

[10:15] {Threei}  vint :)

[10:18] {dino}  well it was selloff time 10:10

[10:18] {Threei}  and no real selloff

[10:19] {Threei}  ok, FAS

[10:19] {Threei}  4.10 is established as support

[10:20] {Threei}  get it wherever you are comfortable with stop size

[10:20] {Threei}  and let's try to give it time

[10:20] {Threei}  want a more serious move

[10:21] {magoo} ok..HL FAS .20..will take more if breaks ouit

[10:21] {cujo} in

[10:21] {magoo} long spy .25

[10:21] {magoo} stop .94

[10:22] {Threei}  frigin WFC shook us out

[10:22] {magoo} toughie

[10:22] {magoo} could esxplode too to 13

[10:24] {Threei}  USB, watching for pullback into 12.50

[10:24] {Threei}  if we make a new high here, this market action has potential for another leg of rally

[10:24] {ese} in FAS

[10:25] {ese} .24

[10:25] {magoo} yea..just need to step up here and now

[10:25] {Threei}  a bit too far from where I started screaming...

[10:25] {ese} i hope your talking about FAS mags....exploding to 13

[10:25] {Threei}  but new high is being made

[10:25] {magoo} this ois IS the moment

[10:25] {Threei}  ok guys, game plan

[10:25] {magoo} SPY best trade potential

[10:26] {Threei}  stop is still under 4.10,

[10:26] {magoo} 73.70 area.first resist

[10:26] {magoo} then to the moon

[10:26] {Threei}  want to sell half closer to 4.50, then re-evaluate

[10:26] {magoo} which vad?

[10:26] {magoo} FAS?

[10:26] {Threei}  what else do we have in this price?

[10:27] {magoo} i WFC too

[10:27] {Threei}  4.50?

[10:27] {magoo} in .35

[10:27] {geo} USB ripping

[10:27] {magoo} wfc there now

[10:27] {magoo} [10:26] {&Threei}  want to sell half closer to 4.50, then re-evaluate

[10:27] {magoo} i could cut WFC

[10:27] {magoo} oh SHIT

[10:28] {Threei}  mags... how do 4.50 and 12.50 look any similar to you???

[10:28] {magoo} 12.50 lol

[10:28] {dino} v sm l .50

[10:28] {magoo} ROFLOL

[10:28] {magoo} i just looking at .50 he he

[10:28] {magoo} hey..i got 3 going here

[10:29] {Threei}  USB, I am crying

[10:30] {Threei}  *DOE CRUDE: +750J V -500KE

[10:30] {Threei}  GASOLINE: -2.99M V -1ME; DISTILLATE: +2.11M V +200KE; CAPACITY UTILIZATION: 82.7% V 83.1%E

[10:30] {magoo} WFC first exit .70 are

[10:30] {Threei}  guys, manage FAS according to your risk tolereance and share size

[10:31] {geo} moving top to .18 vad?

[10:31] {geo} stop

[10:31] {magoo} ESE

[10:31] {Threei}  with .18 - .20 entry, we are solidly over 1:1

[10:31] {Threei}  my idea is different geo

[10:31] {Threei}  I want to sell half,

[10:32] {geo} at .5?

[10:32] {magoo} out ESE

[10:32] {magoo} .69

[10:32] {magoo} look for pullbk

[10:32] {Threei}  then if it pulls back into our buying range, buy that half back

[10:32] {Threei}  with original stop

[10:32] {magoo} out FASTY BOSS

[10:32] {Threei}  welcome

[10:32] {magoo} sorry confuision

[10:32] {Threei}  that's ok, I understood

[10:33] {Threei}  I can read magooish

[10:33] {magoo} i was watching the cents

[10:33] {magoo} ESE?

[10:33] {Threei}  but I can't miss any chance to tease you

[10:33] {magoo} SIGH.............i miss the slaps 

[10:33] {Threei}  what's to miss

06[10:34] * Threei slaps magoo around a bit with a large roll of cash

06[10:34] * Threei slaps magoo around a bit with a large chart of uptrending market

[10:35] {magoo} i may be all f'ed up...but both trades made $$

[10:36] {magoo} futes need to hold here BIG TIME

[10:37] {dino} pcln

[10:39] {magoo} JPM drilled vad

[10:39] {Threei}  a bit too far from the low of this pullback...

[10:40] {magoo} mkt needs to make up mind to POERUP

[10:40] {magoo} POWER UP

[10:40] {magoo} lol

[10:41] {magoo} DINO COFFEE..cant leave my desk

[10:42] {Threei}  US CONGRESSMEN URGE MANDATORY NATIONAL ANIMAL ID SYSTEM TO PREVENT SPREAD OF ANIMAL DISEASE

[10:42] {Threei}  yup

[10:42] {Threei}  this is the urgency of the moment

[10:44] {geo} vad you bank any on fas?.... i partialled

[10:44] {Threei}  yes

[10:44] {Threei}  watching for either stop or adding half back

[10:45] {pita} add back where?

[10:45] {Threei}  stop is under .10

[10:45] {Threei}  if holding it and starts recovering, will try to determine entry

[10:46] {pita} ty

[10:46] {Threei}  ok... .15 if holding above .10

[10:47] {Threei}  not holding

[10:47] {Threei}  oh well

[10:48] {Threei}  look at WFC selloff

[10:48] {nemo} Looks like no one's convinced yesterday is for real

[10:48] {dino} breakdown coming imo, sm l sds .50

[10:51] {nemo} .05 new support for fas?

[10:51] {Threei} Long Setup:  GE  9 break for a scalp

[10:52] {fernp} stop 8.87?

[10:52] {magoo} in

[10:52] {Threei}  for hardcore scalpers, stop .94

[10:52] {Threei}  for the rest .89

[10:54] {dino} stay away from me today, way off

[10:54] {nemo} well, then, we might as well hangout Dino

[10:54] {dino} lol

[10:54] {geo} whats up with pcln?

[10:55] {cosmo} qqqq 28 test soon

[10:55] {cosmo} i think

[10:56] {magoo} where u in cosmic?

[10:57] {dino} pcln?

[10:57] {cosmo} once you're in, you're in for good....

[10:57] {Threei}  no news that I see for PCLN

[10:58] {Threei}  SEC'S SHAPIRO: FASB WILL PROVIDE MARK-TO-MARKET ACCOUNTING GUIDANCE - Q&A

[10:59] {Threei}  UPDATE: WEAKNESS IN TRAVEL STOCKS BEING ATTRIBUTED TO EXPE LAUNCHES SPECIAL FLIGHT PROMOTION THAT INVOLVES WAVING BOOKING FEES UNTIL 5/31

[10:59] {Threei}  {OWW PCLN}

[10:59] {geo} thanks

[11:00] {Threei}  SEC'S SHAPIRO: THERE IS 'CLEAR INTEREST' FOR RESTORATION OF UPTICK RULE; FASB WILL PROVIDE MARK-TO-MARKET ACCOUNTING GUIDANCE IN Q2; AND SEC DOES NOT SUPPORT SUSPENSION OF MARK-TO-MARKET RULES - Q&A

[11:00] {Threei}  - Notes that it was not the SEC's intention to have hard to value assets marked to fire sale levels

[11:01] {Threei}  pres on TV

[11:02] {Threei}  Shapiro

[11:02] {Threei}  - Says that she hopes to get the uptick rule out in April{

[11:02] {wulff} in ge

[11:03] {magoo} dont care about uptick

[11:03] {Threei}  neither do I

[11:03] {magoo} do NOT want that traders TAX

[11:05] {cosmo} remember the $35 commission?

[11:05] {Threei}  Terrfic Tim is speaking now

[11:05] {Threei}  vividly cosmo

[11:06] {nemo} that'll make $35 commission look like pocket change

[11:06] {Threei}  yup

[11:06] {magoo} it will kill us

[11:06] {cosmo} oh

[11:06] {geo} not happenning

[11:06] {Threei}  nope

[11:06] {nemo} thanks geollum

[11:06] {geo} was hearing a talk by ameritrade director of trading

[11:07] {geo} also a major lobbyist

[11:07] {Threei}  no wonder

[11:07] {Threei}  their business is finished in one day if that proposal is passed

[11:08] {dino} sm l pcln .01

[11:09] {nemo} financials are flatlining

[11:09] {ese} qqqq working it's way to 28 cos

[11:09] {cosmo} now i wonder...

[11:10] {cosmo} ASML seems to lead

[11:11] {geo} your stop dino?

[11:11] {Threei}  US SENATOR DODD: CONGRESS MAY TAKE MEASURES IN FINANCIAL SECTOR TO MAKE SURE THAT REGULATORY ADJUSTMENTS WILL NOT HAMPER INNOVATION

[11:12] {Threei}  these guys just can't stop talking, can they?

[11:12] {cosmo} ... in real estate...

[11:12] {geo} either previous lawyers or class presidents

[11:13] {Threei}  US HOUSE: AIMING TO ADJUST EARMARKS; REQUIRE PROJECT FUNDING AIMED TOWARDS 'FOR PROFIT' COMPANIES TO BE BID UPON

[11:14] {dino} geo on your own, it like pulp

[11:14] {geo} heheh i am loving it

[11:14] {geo} lots of air

[11:15] {geo} you have a target?

[11:15] {fernp} no worky GE

[11:15] {dino} 76?\

[11:15] {geo} cool same here

[11:15] {geo} been watchint it all day

[11:15] {geo} made some on way down

[11:15] {geo} but scary stock

[11:16] {wulff} good call on pcln dino

[11:16] {dino} hard stop 75

[11:16] {dino} ty

[11:17] {dino} started out wrong today

[11:17] {geo} me too

[11:17] {dino} stopped pcln, damn, +1.01

[11:17] {geo} ok out

[11:17] {geo} same here

[11:17] {geo} but had a lot

[11:17] {geo} hehehehe

[11:18] {geo} i think i am going to stop trading for the day

[11:18] {dino} gj geo

[11:18] {cosmo} just take a nap

[11:18] {geo} was a lill stress full

[11:18] {geo} was in GE but cancelled at break even as wast going anywhere

[11:18] {geo} wasnt

[11:19] {geo} dino rinse on stop?

[11:19] {geo} volume shows more juice

[11:19] {dino} looks like it

[11:19] {dino} 73.60s

[11:20] {dino} 74.60 i mean

[11:20] {nemo} volume similar to yesterday so far

[11:20] {dino} careful mkt drop

[11:21] {dino} sds major rinse

[11:22] {Threei}  CAT formed inverted C&H

[11:23] {Threei}  26.10 becomes a short trigger, but I'd like to see some consolidation first

[11:23] {Threei}  it dropped a bit too sharply

[11:23] {ese} just looked at PCLN....nice one dino

[11:24] {dino} ty

[11:24] {geo} darn 76 dinoo

[11:24] {geo} my stop was too tight but had too much money at stake

[11:24] {Threei}  prez on TV

[11:25] {geo} probably still trying to campaign

[11:26] {geo} he is like the hidden japanese still fighting WWII

[11:26] {geo} someone tell him... campaign is over

[11:27] {dino} roflol

[11:27] {dino} he complains about shorts, but his talking is the biggest short going

[11:29] {dino} me too geo, sorry, but it had 35 cent cushion

[11:29] {dino} laying in wait at 75.40

[11:30] {geo} it was a great trade... thanks dino.... i had been going short on it.... 

[11:30] {dino} "end of old ways" must mean pass what i say

[11:31] {nemo} He's borrowing from Chavez in Venezuela..talktalktalktalktalktalktalk

[11:32] {dino} reminds me of him, takes over bank, insurance companies, autos, etc. he just went for money centers rather than oil

[11:32] {dino} socialist or worse

[11:32] {Threei}  EFC

[11:32] {Threei}  WFC

[11:33] {Threei}  back in day's low

[11:33] {fernp} DRYS forming a DBI

[11:33] {Threei}  .81 long

[11:33] {Threei}  .75 stop

[11:34] {Threei}  no go

[11:35] {Threei}  wow

[11:37] {ese} outta here for a litle while....see you in a bit hopefully....

[11:37] {Threei}  take care ese

[11:38] {ese} see ya vad

[11:42] {Threei}  if market resumes down, let's try semi-aggressive entry on CAT

[11:43] {Threei}  .29 short if stays below .40

[11:53] {Threei}  US TREASURY'S KASHKARI: TREASURY RECEIVED $2B IN TARP DIVIDENDS IN Q1

[11:54] {Threei}  so, they are making money on it?

[11:54] {Threei}  all is well?

[11:56] {dino} axys

[12:01] {dino} sm l pcln .50

[12:02] {dino} what do you make of axys

[12:02] {dino} up for sale, but????????

[12:03] {Threei}  11:13am [AXYS] Has reportedly put itself up for sale; first round bids were due on Tuesday; reportedly AXYS seeking about $60/shr - unconfirmed report

[12:06] {dino} somebody knows something

[12:07] {Threei}  SEC'S SCHAPIRO: HEDGE FUND RULES SHOULD REQUIRE DISCLOSURE OF TRADING AND HOLDINGS

[12:07] {Threei}  huh?

[12:08] {Threei}  that sounds beyond weird to me

[12:11] {Threei}  03/11/09 11:44am

[12:11] {Threei}  [MCK] McKesson Corp Drug distributor weakness attributed to comments at Barclays conference and Rite Aid concerns

[12:11] {Threei}  - hearing MCK management indicated a recent decrease in core distrubuiton businesses notabley from physicians offices

[12:11] {Threei}  - separately, a Deutshce Bank note expresses concerns over exposure to Rite Aide, which accounts for 13% of MCK sales.

[12:12] {Threei}  serious selloff MCK

[12:13] {wulff} do you have an opinion on whether to sell swing/pos. trades on resistance or into stronger buying?

[12:13] {Threei}  too general question...

[12:13] {Threei}  depends on a type of the market

[12:13] {wulff} how about this one

[12:13] {Threei}  in a ranging market, resistance

[12:13] {Threei}  in trending, shrp spikes

[12:14] {wulff} ok

[12:14] {Threei}  we don't have uptrending market yet

[12:14] {nemo} psychotic

[12:14] {Threei}  so far it's just a bounce in downtrend

[12:16] {Threei}  GS new high

[12:16] {nemo} CAT Vad, sneaking above 11:12 peak

[12:18] {Threei}  watching GS pullbackfor bounce entry

[12:19] {Threei}  sharp selling into .50 - .60 zone would be interesting

[12:21] {dino} out pcln slipped .80, +.30

[12:23] {Threei}  I don't get CAT today

[12:26] {dptl} Vad...nflx and ebs short? what do you think?

[12:26] {Threei}  NFLX, a bit conflicting

[12:27] {Threei}  intraday chart is DBI, bu on daily it dropped sharply into support

[12:27] {Threei}  with any market help feels like bounce to me

[12:27] {dptl} ok ty

[12:28] {Threei}  EBS still has room to downside

[12:28] {Threei}  if makrt drops more and breakdown follows, I'd prefer EBS as a short over NFLX

[12:28] {dptl} ty

[12:31] {Threei}  look... tiny market bounce, NFLX jumps 30 cents

[12:31] {Threei}  EBS stays near low

[12:31] {dptl} yes

[12:31] {Threei}  kind of reinforces the read

[12:35] {dino} sm l pcln .10

[12:41] {Threei}  I hate CAT today

[12:42] {cosmo} Cheshire Cat ...maybe

[12:43] {Threei}  feels short and works on a short side, but entries are totally counterintuitive

[12:43] {Threei}  can't get it right

[12:44] {cosmo} yea ....had to nap here

[12:45] {cosmo} now i got a kink in my neck

[12:47] {cosmo} ah ... its the full moon

[12:52] {Threei} Short Setup: WFC  .45 if stays under .55

[12:54] {Threei}  lol... oversupply of hybrids

[12:54] {nemo} yeah, toyota having  tough time

[12:54] {Threei}  a loty of unsold ones

[12:54] {Threei}  big drop in value of used ones

[12:55] {nemo} Why .45 w support under .40?  aggresive entry?

[12:55] {Threei}  now, let's push GM and F to make more of those and kill them finally

[12:55] {Threei}  yes, bounced from here a few times

[12:55] {nemo} so, if it goes there again, likely to fail?

[12:56] {Threei}  with market help, yeah, and it has a manner to drop sharply

[12:56] {Threei}  so I don't want to chase into the next support

[12:56] {Threei}  trying to find entry point that would get us in earlier and with tighter stop

[12:56] {nemo} @.20?

[12:57] {Threei}  then we wil have less risk and more opportunity to cover into sharp drop

[12:57] {Threei}  why .20? its low is .32 so far

[12:58] {nemo} looking at yesteray around 2:45

[13:00] {Threei}  1:1, covering half

[13:00] {Threei}  US TREASURY'S GEITHNER: TO OUTLINE REGULATORY PLAN BEFORE APRIL MEETING OF G20

[13:03] {dino} they really take their time on this 

[13:04] {dino} what was the point of the big feb 10th mtg

[13:04] {Threei}  well dino... up to couple days ago appointments, Timmy was home alone

[13:05] {Threei}  kind of tough to regulate whole financial sector when you don't have anyone to type the letter for you

[13:11] {dino} hmmmm

[13:13] {Threei}  fern, thank you for MPP review

[13:14] {fernp} welcome

[13:14] {nemo} you out vad?

[13:14] {Threei}  ?

[13:14] {nemo} wfc

[13:14] {Threei}  oh, second half

[13:14] {dino} sm l cmtl .03

[13:14] {nemo} yes

[13:14] {Threei}  sure, stop trails to above b/e after 1:1

[13:16] {Threei}  anyone shorted EBS on 17 break?

[13:16] {Threei}  almost 70 cents

[13:17] {Threei}  dp??

[13:18] {dptl} no missed it was ivolved with ads for +.20...and mised entry

[13:18] {Threei}  great... not only no one pays attention, even one who asks the question pays no attention to answer... lol

[13:19] {Threei}  anyway, look at the difference in behavior between EBS and NFLX

[13:19] {dptl} :) ye was waiting waiting and mised didnt want to chase it

[13:23] {Threei}  US TREASURY'S KASHKARI: CONCERNED OVER PROPECTS THAT THE BANKS MAY NOT DESIRE TARP CAPITAL

[13:23] {Threei}  huh?

[13:23] {Threei}  what the heck is going on today

[13:24] {Threei}  comments seem to be from some other universe

[13:24] {nemo} Bizzaro World

[13:24] {Threei}  how the fact that banks are so healthy that they don't need/want taxpayers money can be troubling?

[13:25] {cosmo} maybe its to avoid being nationalized

[13:26] {Threei}  there are so many logical fallacies and inconsitencies in that, I don't even know where to begin

[13:26] {Threei}  just one:

[13:26] {Threei}  so he is concerned that banks may not want to be nationalized?

[13:27] {cosmo} or maybe to avoid interfering with the forclosure process

[13:28] {Threei}  you guys need that midterm election NOW

[13:28] {Threei}  not in 2010

[13:28] {cosmo} dunno here ... spinning my wheels too

[13:28] {Threei}  and you know the names to throw out, right?

[13:28] {cosmo} yep

[13:29] {Threei}  starting with 8 tax-happy folks

[13:29] {nemo} Doesn't matter, nobody understands who to elect...

[13:29] {Threei}  and ending with "FRE and FNM will do what I tell them to do" bloke

[13:29] {nemo} Plus, you have to deal w/statistical distribution of the electorate's intelligence

[13:30] {cosmo} as well as retention incentives

[13:30] {nemo} what immodium?

[13:31] {dino} well, thats what won him the election, the inner cities

[13:31] {Threei}  yeah... as old joke goes, "Total of the intelligence on tha planet is constant... while population increases"...

[13:31] {Threei}  hey guys, guess what

[13:31] {Threei}  Prez on TV

[13:31] {cosmo} oh

[13:32] {fernp} Venezuela tv?

06[13:32] * Threei quietly dissolves in the night

[13:32] {nemo} I was just gonna' say, but thought...nah...6 times in one day too much

[13:32] {cosmo} 6?

[13:32] {Threei}  3rd time today

[13:32] {dptl} he is tv star now

[13:32] {nemo} joke

[13:33] {nemo} but I thought it was only the 2nd....sheesh

[13:33] {Threei}  JPM CEO: BANK STRESS TESTS WILL BE 'VALUABLE'; WILL DETERMINE WHICH BANKS ARE HEALTHY AND WHICH ARE NOT

[13:33] {cosmo} seems more like 1/2 dozen

[13:33] {Threei}  yeah... too bad we will never know

[13:34] {ese} yo back for a litle bit....everybody filthy stinky rich yet??   

[13:34] {dptl} how about sivb short?

[13:35] {nemo} Hey guys, wanna see a great email?

[13:35] {ese} go for it

[13:35] {nemo} I  became confused when I heard the word 'service'  used with these agencies. 

[13:35] {nemo} Internal Revenue  'Service' 

[13:35] {nemo} U.S. Postal  'Service' 

[13:35] {nemo} Telephone 'Service' 

[13:35] {nemo} Cable TV 'Service'  

[13:35] {nemo} Civil  'Service' 

[13:35] {nemo} State, City, County & Public   'Service' 

[13:35] {nemo} Customer 'Service' 

[13:35] {nemo} This is not what I  thought 'service' meant 

[13:35] {nemo} But today, I overheard two farmers talking, 

[13:35] {nemo} and one of them said he had hired a bull to 'service' a few cows. 

[13:35] {nemo} BAM!!!  It all came into focus.

[13:35] {nemo} Now  I understand what all those agencies are doing to us.  

[13:35] {nemo} Now you are as enlightened as I am.

[13:36] {ese} ha ha ha.....perfect

[13:36] {fernp} lol

[13:36] {cosmo} yea... its some cult terminology after al ...sheesh

[13:36] {cosmo} all

[13:39] {nemo} Vad WFC long if it breaks .60?

[13:39] {nemo} damn missed it

[13:39] {Threei}  wait for pullback

[13:40] {nemo} I ain't no hero

[13:40] {Threei}  this starts feeling like new leg up is forming

[13:40] {Threei}  market sat quietly

[13:40] {Threei}  discouraged longs

[13:40] {Threei}  now starts new assault on encouraged shorts

[13:40] {nemo} Figures, gotta' leave soon

[13:41] {nemo} woulda' been a nice sclap

[13:41] {nemo} scalp

[13:41] {Threei}  yes but market spike came out of nowhere

[13:41] {Threei}  was impossible to anticipate

[13:42] {Threei}  what we can do though is use it as an indication of intentions

[13:43] {cosmo} its the nature of the service...

[13:43] {Threei}  .60 is support now

[13:43] {Threei}  pullback closer to is should be an entry

[13:44] {Threei}  in

[13:44] {Threei}  for scalpers stop under .60

[13:44] {Threei}  for a day trade,, under .50

[13:47] {dino} cmtl stopped

[13:51] {nemo} out

[13:52] {Threei}  JPM CEO: TIME FOR 'NEW IDEAS' IS OVER; MORTGAGE MODIFICATION PLAN IS 'APPROPRIATE' - Q&A

[13:52] {Threei}  PREVIEW: FEB MONTHLY BUDGET STATEMENT DUE OUT AT 2PMET

[13:52] {Threei}  **consensus expectation: -$205Be v -$175.6B

[13:52] {nemo} I'll bet their's a negotiation to save their asses if they agree to that

[13:53] {nemo} That is...in the new regulatory framework

[13:55] {Threei}  market is hesitating before the budget statement

[13:55] {Threei}  if number is any good, should explode

[13:55] {nemo} Don't think it will be or they would have leaked it

[13:55] {Threei}  I use "good" in a very loose sense

[13:55] {nemo} understood...back to the leper only losing a toe today

[13:56] {Threei}  right

[14:00] {Threei}  half out WFC

[14:00] {Threei}  *FEB MONTHLY BUDGET STATEMENT: -$192.8B V -$205BE

[14:02] {Threei}  hmmm... I'd expect more from that

[14:02] {nemo} no trust

[14:03] {nemo} Cat looks like it might want to go short

[14:04] {Threei}  out WFC second half .79

[14:04] {nemo} Actually, multiply those numbers by 12, maybe that's what sunk in.

[14:05] {Threei}  +.16

[14:05] {Threei}  this is pathetic

[14:06] {nemo} That's better than a 2 trillion $ deficit

[14:07] {nemo} greater, that is

[14:07] {Threei}  FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS

[14:07] {Threei}  who said it was?

[14:09] {nemo} Notice how disjointed the news is getting?

[14:09] {Threei}  state of high confusion?

[14:09] {nemo} Yes...

[14:11] {nemo} anybody take that CAT short?

[14:11] {Threei}  gotta try another scalp on WFC, using FAS as lead

[14:12] {Threei}  in .57

[14:13] {Threei}  funny stop, .54

[14:16] {Threei}  nope

[14:17] {Threei}  FASB BOARD MEMBER SMITH: DOES NOT BELIEVE MARK-TO-MARKET ACCOUNTING IS THE CAUSE OF THE ECONOMIC CRISIS

[14:17] {Threei}  - Admits there "are some problems" with fair-value accounting.

[14:17] {Threei}  - Plans to offer guidance very shortly on whether market is "active or inactive."

[14:21] {Threei}  so, all their blabbing took market negative so far

[14:21] {Threei}  aren't they good at it

[14:34] {Threei}  time for eod projections

[14:34] {Threei}  mags?

[14:34] {magoo} down

[14:34] {Threei}  dino, got an input?

[14:35] {nemo} flat

[14:35] {dino} down big tomorrow

[14:35] {nemo} but one could argue flat is down

[14:35] {dino} or up is down on opposit day

[14:36] {nemo} an here comes the rally

[14:36] {Threei}  thwe what?

[14:36] {dino} maxim hot 100 on vh1

[14:36] {nemo} 'ally

[14:37] {dino} alxn

[14:37] {cosmo} followed by the intictments...

[14:37] {Threei}  lol

[14:37] {cosmo} then more 'ally

[14:37] {nemo} then the prez

[14:39] {magoo} going to restroom to see if push mkts up

[14:41] {Threei}  that's one wasted restroom trip

[14:41] {nemo} probably not from mags point of view

[14:42] {magoo} bacxk

[14:42] {magoo} ALRIGHT

[14:42] {cosmo} wtg

[14:45] {nemo} RIM if breaks 40.10?

[14:45] {dino} airm

[14:45] {nemo} RIMM

[14:46] {Threei}  CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC

[14:46] {Threei}  squeze or fizzle?

[14:47] {Threei}  not delighted by idea of buying RIMM after this spike

[14:47] {Threei}  if consolidatwes a bit and then breaks, maybe

[14:48] {nemo} even if it breaks resistance?

[14:48] {Threei}  it spiked into resistance

[14:48] {nemo} spikes just to sporadic?

[14:48] {nemo} no, if it get's through resistance?

[14:49] {Threei}  I don't buy break of resistance if a stock spiked into it

[14:49] {nemo} o.k. cool

[14:49] {dino} profitable in what line of business, i don't buy it

[14:49] {nemo} excuse me Dino?

[14:50] {Threei}  if it goes through consolidation etwee, 40.10 and some support close enough, then it's a buy

[14:50] {nemo} understand, break through, retreat a bit, hang around for awhile, then go?

[14:51] {dino} jpm profitable nemo

[14:51] {nemo} oh, but was that Dimon saying that?

[14:51] {dino} [14:46] {Threei}  CEO: JP MORGAN WAS ALSO PROFITABLE FOR JAN AND FEB - CNBC

[14:52] {nemo} Well, if they aren't then that's putting his head in a noose along with the Citi guy.  However, this is the last week they can sell stock before they go into the earnings black-out period

[14:53] {nemo} Look at FAS WFC RIMM, poling around resistance

[14:53] {Threei}  WFC retreats

[14:54] {Threei}  FAS too

[14:54] {nemo} FAS too...maybe

[14:54] {Threei}  RIMM looks a bit better

[14:54] {Threei}  but needs another market spike

[14:56] {cosmo} HPQ hod =28.80  fyi

[14:57] {magoo} vad..what was yours?up downfat

[14:57] {Threei}  problem with all this moves here is, they are good for 5-7 cents scalps

[14:57] {nemo} yeah, great for the broker

[14:57] {Threei}  yeah

[14:57] {Threei}  down mags

[14:57] {Threei}  I will be very surprized if we go up into close

[14:58] {Threei}  pleasantly surprized

[14:58] {Threei}  so far, it's not a market to buy 5K on a few stocks and fall asleep for hald of the day

[14:58] {Threei}  half

[14:58] {nemo} how about 10 minutes

[14:59] {Threei}  not even that

[14:59] {Threei}  we will be there

[14:59] {nemo} Markets RIMM looking weaker

[14:59] {Threei}  and those will be the days of the easiest money in months if not years

[15:00] {Threei}  but to get there we will go through some more struggle

[15:01] {cosmo} new currency maybe

[15:01] {nemo} O.K.  Moses

[15:03] {nemo} WFC back at resistance

[15:03] {nemo} C&H almost

[15:03] {Threei}  same for FAS

[15:03] {Threei}  RIMM should do a quick trip down now, to around .10

[15:04] {Threei}  should be good for a scalp

[15:04] {Threei}  US REP BOUCHER: TO PURSUE REGULATIONS ON INTERNET COMPANIES FOR PRIVACY RIGHTS

[15:05] {cosmo} rights for whom?

[15:05] {Threei}  no idea

[15:05] {cosmo} exactly

[15:08] {cosmo} HPQ tests

[15:08] {cosmo} soon

[15:09] {Threei}  US PRESIDENT OBAMA FORMALLY SIGNS $410M OMNIBUS BILL TO FUND GOVT OPERATIONS THROUGH SEPT

[15:10] {dino} v stop to .95 all dayer

[15:12] {dino} surprised he wasn't on tv for it

[15:12] {Threei}  3 times today

[15:12] {Threei}  4th would be a record

[15:13] {nemo} He's gonna give slick willie a run for his money as a camera hound

[15:14] {cosmo} he's got an easy act to follow...

[15:14] {cosmo} .. for now

[15:15] {nemo} look at this run

[15:15] {cosmo} 'un

[15:15] {nemo} 'ally

[15:16] {dino} out v .05, +.55

[15:16] {Threei}  bigger pullback this time

[15:17] {nemo} back to the river Styx

[15:20] {dino} pcln stop to .50

[15:21] {cosmo} QQQQ 28 in sight

[15:21] {Threei}  looks like all pullbacks are entries

[15:21] {dino} to .75

[15:22] {dino} out .80, +.70 hours

[15:22] {Threei}  WFC around .05 - .07

[15:23] {Threei}  if the pattern holds

[15:23] {nemo} IF?  sheesh

[15:23] {cosmo} off to the 'aces?

[15:24] {nemo} I'm the wrong person to ask

[15:24] {Threei}  in .08

[15:24] {dawg} in .07

[15:24] {dawg} half lot

[15:26] {Threei}  tried to exit half at .15, didn't get a hit

[15:26] {dawg} nada

[15:27] {magoo} in 09

[15:27] {dino} you guys really don't want chaeron here

[15:27] {Threei}  not until he rfemembers his password

[15:28] {Threei}  doesn't look encouraging

[15:29] {Threei}  out

[15:29] {nemo} no had the same formation between 14:40 and 14:50

[15:29] {dawg} out

[15:34] {nemo} This really isn't a bad market day after the insane run up yesterday.  The financials are basically up again.

[15:34] {nemo} It might be a lie, but...

[15:35] {nemo} volume a tad light, but for a "consolidation" day...might make sense

[15:36] {Threei}  I agree

[15:37] {nemo} Good...I'll go put the order in for the Lamborghini :)

[15:37] {nemo} At my local model shop, that is...

[15:39] {nemo} Gotta' go.  WFC wegdging through 12

[15:39] {nemo} wedging

[15:40] {Threei}  dawg... thing is laughing at us

[15:40] {cosmo} Qs test

[15:41] {cosmo} sorta late....

[15:41] {dawg} yessir i agree

[15:42] {Threei}  freakishly empty day for me

[15:42] {Threei}  win here stop there

[15:42] {dawg} same

[15:43] {Threei}  looking at the amount of shares I tarded today,

[15:43] {Threei}  broker must be sending flowers to me just about now

[15:43] {Threei}  and I have nothing to show for it

[15:43] {dawg} same

[15:43] {dawg} here

[15:43] {Threei}  90K shares

06[15:45] * Threei slaps laserdave around a bit with a large roll of cash

[15:49] {laser