RealityTrader Trading Log

Friday, March 5, 2010

Mar 05 2010

Once again an hour of activity followed by prolonged coma. With one stop and wins on CIEN, NTAP, TIVO and VXX we finish 4th week of no single losing day. Really time to have one, just to get it out of the system.

Session Time: Fri Mar 05 00:00:00 2010

[07:55] {nemo} morning gentlemen
[08:16] {Raven} gentlemen?
[08:16] {nemo} as soon as I wrote that I thought of you as the exception
[08:17] {Raven} excellent ... thank you
[08:17] {nemo} Noble bird perhaps
[08:17] {Raven} that works
[08:27] {Threei} (US) Preview: Feb Average Hourly Earnings and Average Weekly Hours due at 08:30ET
[08:27] {Threei} - Average Hourly Earnings MoM: 0.2%e vs 0.2% last
[08:27] {Threei} - Average Weekly Hours: 33.7e v 33.9 last
[08:27] {Threei} (US) Preview: Feb Unemployment Rate data due out at 08:30ET (13:30 GMT)
[08:27] {Threei} - Consensus expectations at 9.8%e v 9.7% prior
[08:27] {Threei} US) Preview: Feb change in Nonfarm payrolls and change in manufacturing payrolls due at 08:30ET (13:30 GMT)
[08:27] {Threei} - Change in Nonfarm Payroll: -68K expected versus -22K prior
[08:28] {Threei} Euro vs US Dollar (EU) ECB's Weber: Stresses that the euro is not a "soft" currency and will not become one - Wirtschaftwoche interview
[08:28] {Threei} - Notes that the Greek situation is not a problem of the whole Euro Zone.
[08:28] {Threei} - Reiterates that price stability will remain a cornerstone of policy.
[08:28] {Threei} SP) ECB's Gonzalez-Paramo: Spanish banks in poor financial shape need to restructure
[08:28] {Threei} - Spain needs to define its deficit reduction plan.
[08:28] {Threei} - Spainish labor rules are unfair.
[08:29] {nemo} good report
[08:30] {Threei} *(US) FEB AVERAGE HOURLY EARNINGS M/M: 0.1% V 0.2%E; AVERAGE WEEKLY HOURS: 33.8 V 33.7E
[08:30] {Threei} *(US) FEB UNEMPLOYMENT RATE: 9.7% V 9.8%E
[08:32] {nemo} I was going to take FAS on break of .40 on the report, but jumped right over it
[08:34] {Threei} TIVO will be of interest again
[08:50] {Threei} (US) PIMCO's Bill Gross: Jobs will not be added at the rate they have in the past
[08:50] {Threei} - Unemployment may rise above 10% again. US unemployment is structural.
[08:50] {Threei} - Defines the "new normal" as a three to five year outlook
[08:50] {Threei} - Believes that Greece will be bailed out one way or another
[08:50] {Threei} (US) Senator Dodd (D): Continues to be "fairly confident" the consumer protection bill will pass- CNBC
[08:50] {Threei} wasn't he the one who scrapped it?
[08:59] {Threei} (US) Senator Dodd (D): - Would prefer to avoid using reconcilliation process for healthcare reform.
[08:59] {ese} morning vad
[08:59] {Threei} ese :)
[09:00] {ese} well in 2 1/2 hrs myself and the family will be outta here on our way to Italy
[09:00] {Threei} cool beans
[09:00] {Threei} in case I fall asleep at that point, you have a safe trip and a lot of fun
[09:01] {ese} It has been very difficult to trade this week.....focus has not been what it should be
[09:01] {Threei} when are you back?
[09:01] {ese} will definitely have fun
[09:01] {ese} Mar 19th late
[09:02] {ese} have gained some maturity on this board ehhhhhh
[09:02] {ese} am not trading whne i can't completely focus on it
[09:02] {ese} when
[09:02] {Threei} :)
[09:03] {billyc} gm everyone
[09:03] {Threei} billy :)
[09:04] {billyc} hey vad
[09:07] {fernp} Good morning everybody
[09:07] {Threei} fern :)
[09:11] {Threei} GMO Announces Significant Investment from Hanlong, POSCO Commits to 20% Mt. Hope Equity Interest
[09:12] {larisa} gm :)
[09:12] {Threei} larisa :)
[09:12] {larisa} vad :)
[09:13] {dino} gm all
[09:14] {Threei} dino :)
[09:14] {dino} es, have a great time
[09:18] {Threei} GMO Reports Q4 -$0.03 v -$0.04 y/y, Rev is nil
[09:18] {Threei} how nice
[09:18] {Threei} GR) Greek Parliament passes austerity plan (as expected
[09:19] {lasertrev} morning
[09:20] {jfjf64} mornin all
[09:20] {Threei} trev, jf :)
[09:22] {gen} gm all
[09:23] {Threei} gen :)
[09:24] {Les} hello
[09:26] {Les} I said HELLO!
[09:26] {Les} :)
[09:26] {larisa} HI les :)
[09:26] {RonS} Hi Les and all
[09:26] {Les} finally. someone acknowledges my existance
[09:26] {Threei} les, ron :)
[09:26] {Les} Ron, Vad
[09:26] {Threei} not really les, we are just trying to pretend we are polite
[09:26] {Threei} (unsuccessfully, too)
[09:27] {billyc} hey les
[09:27] {dino} es, have a great time
[09:27] {Les} billy
[09:27] {Les} ese is gone?
[09:27] {dino} oh... hello les ( in my hello newman voice)
[09:27] {Threei} 09:00] {ese} well in 2 1/2 hrs myself and the family will be outta here on our way to Italy
[09:27] {Threei} rofl dino
[09:28] {Les} I'd laugh too but don't know who hello newman is
[09:28] {dino} itmn strange
[09:28] {Les} hey dino
[09:28] {nemo} phillistine
[09:28] {Threei} Seinfield reeference, Les
[09:30] {Les} ah right, think I can see who is being referred to
[09:31] {dino} tivo continues
[09:31] {Threei} Short Setup: ITMN .90 break small shares
[09:31] {Threei} grrrr!
[09:31] {Threei} late
[09:31] {dino} same idea, great minds, huh
[09:32] {Threei} InterMune, Inc. FDA Staff: One trial in Pirfenidone met primary endpoint while another did not; notes FDA usually needs more than one trial showing a drug is effective
[09:32] {Threei} this is news it popped on??
[09:32] {Threei} crap.... look at this drop
[09:33] {dino} that was my point
[09:33] {nemo} yeah too bad didn't show up earlier
[09:33] {dino} s at .50
[09:33] {nemo} that second peak at 27 and then drop...classic
[09:35] {Les} damn. doesn't wanna stop
[09:35] {Les} nice entry dino
[09:35] {dino} ty
[09:36] {dino} where to
[09:36] {Les} sxci had big pop. maybe selloff now
[09:36] {Threei} Long Setup: TIVO .65 half lot
[09:37] {Threei} if stays above .50
[09:37] {dino} sxci was up 8 or so yesterday too
[09:38] {dino} itmn cov .50 +1.00
[09:38] {larisa} gj
[09:39] {dino} ty
[09:39] {Threei} beautiful
[09:39] {Threei} no go TIVO
[09:39] {fernp} stopped
[09:39] {dino} nice sxci les
[09:40] {Threei} NUAN Heaing renewed takeover chatter circulating (15.14, +0.27, 1.82%)
[09:41] {Les} u get any of it dino?
[09:41] {dino} no itmn had me distracted'
[09:42] {dino} watching it now
[09:42] {RonS} CLF jumped to new high on big vol. Continuation if hold 60.30 Vad?
[09:43] {Threei} I think so
[09:44] {Threei} .50 break
[09:44] {dino} watch fcx on it, imo
[09:44] {nemo} if itmn doesn't hold 22
[09:44] {Threei} GERN Hearing vague takeover chatter circulating
[09:44] {Threei} - Pfizer rumored as a potential acquirer (6.29, +0.28, 4.66%)
[09:44] {dino} how do rumors get started
[09:45] {Threei} rumor bunker
[09:45] {Threei} in gossip city
[09:46] {dino} started by the jealous people
[09:46] {dino} old song
[09:49] {dino} dmnd 4.5 m sh at 37, and itv trades 39-40
[09:49] {strider} MDVN selloff.....again.
[09:49] {Threei} Long Setup: DNDN .45 break
[09:50] {Threei} Long Setup: FCX 80 break half lot
[09:50] {Threei} if stays above .85
[09:51] {larisa} 90 break?
[09:51] {Threei} ?
[09:51] {dino} trh?
[09:51] {larisa} I though .80 :)
[09:51] {dino} arst, boom
[09:51] {Threei} no, $80
[09:52] {dino} wow sxci
[09:52] {dino} 8 pts today too?
[09:53] {nemo} stop/invalidation on dndn?
[09:53] {nemo} .30?
[09:53] {Threei} for now, yes
[09:53] {Threei} but could reestablish itself
[09:53] {Threei} not off radar
[09:53] {dino} dmnd sm s .50
[09:54] {Threei} same goes for FCX
[09:55] {dino} dmnd bstop is hod
[09:55] {Threei} FCX is valid IMO
[09:56] {Threei} maybe with stop under .80 is the best way to play it
[09:56] {fernp} .85 or .80 stop now?
[09:56] {fernp} ah!! ok
[09:56] {dino} i think it was ron yesterday, 11 stocks w/15%+ moves so far
[09:57] {dino} and they say it never happens
[09:58] {Threei} VXX new 52 week low
[10:00] {dino} cov dmnd .55 -.05, not working
[10:00] {dino} boom lod
[10:00] {jfjf64} cien 15 break
[10:00] {Threei} yes
[10:01] {Threei} daily is very nice
[10:03] {jfjf64} lot shares 15
[10:03] {Threei} {CIEN} where?
[10:03] {fernp} too fast here
[10:04] {jfjf64} at em up
[10:04] {dino} dmnd tricked me
[10:04] {dino} trh hl l .00
[10:04] {Threei} get out half at least here who got it
[10:05] {jfjf64} out
[10:05] {dino} gj
[10:06] {dino} sxci sm s .00
[10:08] {Les} all out .23. ty vad
[10:08] {Threei} jf's find
[10:08] {dino} gj
[10:08] {Les} sorry jf, ty
[10:08] {jfjf64} piss off les
[10:08] {Les} morning to you too
[10:08] {jfjf64} lol
[10:08] {ese} L qqqq.,21
[10:09] {fernp} VXX, Vad?
[10:10] {Threei} breaking down obviously, lol
[10:11] {fernp} ty 1:1 VXX and 1:1 QID
[10:11] {billyc} gotta go have a great trip vad and everyone have a great weekend
[10:11] {Threei} me, trip?
[10:11] {Threei} me no go anywhere
[10:11] {ese} out qqqq .27 +.06
[10:11] {Threei} that'd be ese
[10:11] {billyc} i thought you were going to italy
[10:11] {Threei} that'd be ese
[10:12] {billyc} ok ese have a great time in italy
[10:12] {ese} yup in about an hour and a 1/2
[10:12] {dino} es have a great time
[10:12] {billyc} where do you live ese
[10:12] {Threei} (EU) EU Juncker:: Reiteraes that Greek austerity measures are a positive step
[10:12] {dino} when you get back i go golfing in myrtle beach
[10:12] {Threei} why the need to reiterate it?
[10:12] {ese} victoria British Columbia Canada
[10:13] {billyc} thats aweswome
[10:13] {ese} nice dino......i'm gonna do that with you one day
[10:13] {dino} i hope so
[10:14] {dino} out trh +.24
[10:15] {jfjf64} vad look cien charts 15.25 not bad
[10:16] {Threei} Toyota Motor Corp US House Panel reportedly requests additional information on the recalls issues
[10:16] {Threei} - notes that the recent documents provided by Toyota did not show a full investigation of possible electronic malfunctions
[10:20] {Threei} nice jf
[10:21] {Threei} told you that 15 break on daily looked very powerful
[10:22] {jfjf64} half out
[10:22] {jfjf64} stop to 35
[10:23] {Threei} Long Setup: NTAP .05
[10:24] {Les} stop .90?
[10:24] {Threei} stops are .95 for scalpers and under .90 for day traders
[10:27] {Threei} SEED
[10:27] {Threei} ITRI Hearing industry publication expects US govt to announce favorable smart grid stimulus grants within the next few weeks (70.00, +1.28, 1.86%) (related PWR CNP TLVT ELON ONNN GRID )
[10:27] {Threei} itri
[10:28] {dino} sxci stopped -.30
[10:29] {Threei} DND
[10:29] {Threei} DNDN
[10:30] {jfjf64} i missed that grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
[10:30] {Threei} Market Internals update at 10:30amET
[10:30] {Threei} - NYSE volume 205M shares, about 15% below its three-month average; advancers lead decliners by 6.9:1.
[10:30] {Threei} - NASDAQ volume 570M shares, about 12% above its three-month average; advancers lead decliners by 2.9:1.
[10:30] {Threei} - VIX index -5.5% to just over 17.50
[10:33] {nemo} .01 away from 1;1 on ntap
[10:42] {Threei} Long Setup: TIVO .40 break
[10:44] {jfjf64} stop where
[10:44] {Threei} invalidated as break
[10:44] {Threei} looking if forms another setup
[10:46] {Threei} NTAP 1:1 for scalpers
[10:46] {Threei} for all practical intents and purposes
[10:46] {Threei} stop to under 32
[10:50] {Threei} 1:1 for day traders
[10:51] {Threei} took its sweet time
[10:51] {Les} out ty
[10:51] {Threei} yw
[10:52] {Threei} who partials, stop to under b/e for the balance
[10:53] {jfjf64} get ready boys market gonna fly
[10:53] {nemo} yeah...200 point day today
[10:58] {ese} there
[10:59] {Les} only in spirit
[10:59] {dino} more
[10:59] {nemo} dino ?
[11:00] {nemo} oh...never mind
[11:00] {ese} you got a contact #.......ya never know if we'll get into your neck of the woods
[11:00] {dino} lol]
[11:00] {nemo} scares me whe I understand your humor
[11:00] {Threei} lol
[11:00] {Les} dcc ese
[11:00] {ese} tks
[11:01] {Les} happy travels
[11:03] {ese} about a 1/2 hour with you lot yet
[11:05] {Les} fcx approaching 80 again
[11:05] {Les} spot gold popping
[11:06] {Threei} Homeland Security Sec Napolitano: US will install full body scanners at 11 more airports (update) (30.77, +0.49, 1.62%) (related LLL OSIS ASEI )
[11:06] {Threei} ICXT, maybe...
[11:07] {dino} tnh
[11:12] {nemo} tivo maybe .35 break
[11:14] {nemo} hehehehe
[11:14] {nemo} 1/2 out .46
[11:14] {Les} not too shabby
[11:14] {nemo} saw that big order at .35
[11:14] {jfjf64} nice nemo
[11:14] {Threei} this is new: finding time to laugh in typing while in the fast moving stock
[11:14] {nemo} if not for that huge order
[11:14] {Threei} then again, it's nemo {G}
[11:15] {nemo} broken clock
[11:15] {fernp} QID breakdown, Vad?
[11:15] {Threei} good trade though
[11:15] {nemo} still puckers me though
[11:15] {Threei} dion't know what to say fern
[11:15] {Threei} read says yes
[11:15] {Threei} inner self says don't
[11:16] {fernp} ty
[11:16] {Threei} outer self shrugs and wants to sleep
[11:16] {nemo} cmon' give me .50
[11:16] {Threei} that big order concept comes handy eh nemo
[11:16] {nemo} yes..definitely
[11:16] {nemo} 1/4 more
[11:16] {Threei} wtg
[11:17] {nemo} .60 gonna' be an issue
[11:17] {nemo} stop under .40
[11:19] {fernp} PALM valid dbi, Vad?
[11:20] {nemo} tempted to wuss out here
[11:20] {nemo} stop now under .45
[11:20] {Threei} chart wise yes,
[11:20] {jfjf64} aig bounce
[11:20] {Threei} but it tends to make its move in the morning, then stall
[11:21] {nemo} wussed on the last 1/4
[11:22] {nemo} idiot me, shoulda' gone by the BB average
[11:23] {nemo} c'mon Les, I'm leaving plenty of openings here...
[11:25] {Les} huh?
[11:26] {nemo} drinking already?
[11:26] {Les} sorry. friday arvo
[11:26] {Les} tivo looks good again for break
[11:26] {Les} say .55
06[11:26] * strider slaps nemo around a bit with a large pair of bollinger bands
[11:26] {Les} voilĂ ! happy now?
[11:27] {nemo} Hey Hillbilly!
[11:27] {strider} hey, dud
[11:27] {strider} I mean dude
[11:27] {nemo} you were right the first time
[11:27] {strider} I know.
[11:27] {nemo} I know you know
[11:28] {nemo} Oh good, I can start self-flagellating over TIVO
[11:28] {strider} Don't forget the rocks in the shoes.
[11:29] {nemo} I use a scourge
[11:29] {strider} Ebenezer?
[11:29] {nemo} sigh
[11:29] {Threei} nice read on TIVO guys
[11:29] {nemo} broken clock
[11:34] {dino} itmn
[11:34] {nemo} short dino?
[11:35] {dino} maybe so
[11:35] {nemo} that's my read, but you've got the trend line
[11:36] {Les} think I'll call it a week. sick boy last night. slept badly.
[11:36] {Les} c u's monday
[11:36] {nemo} TFTW
[11:38] {Threei} take care Les
[11:39] {strider} The HOG that wouldn't die..
[11:39] {nemo} Hey JF...thought you said the market was going to explode?
[11:40] {nemo} itmn might get a bounce around .70
[11:40] {jfjf64} nemo piss off
[11:40] {jfjf64} lol
[11:40] {strider} jf is self-amusing
[11:41] {dino} cya les
[11:41] {dino} sidetracked nemo
[11:42] {nemo} he thinks I'm Les
[11:42] {Threei} what the deuce
[11:42] {nemo} .....that's discouraging
[11:42] {Threei} I took some ICXT for a scalp,
[11:42] {Threei} having it for sale at 7.07
[11:43] {Threei} buys go with sizes
[11:43] {Threei} 3 shares
[11:43] {Threei} 1 share
[11:43] {Threei} 8 shares
[11:43] {Threei} 11
[11:43] {Threei} 24
[11:43] {Threei} 76
[11:43] {nemo} we get it
[11:43] {Threei} who the heck trades like this?
[11:43] {nemo} hft?
[11:43] {strider} you do, now.
[11:44] {nemo} itmn riding the 50 ma
[11:44] {Threei} 16 executions for 1000 shares
[11:45] {strider} what route?
[11:45] {Threei} ISLD
[11:45] {Threei} but it doesn't matter
[11:45] {Threei} I sat at the offer
[11:45] {Threei} so whoever hit my offer could use any other route
[11:46] {strider} maybe someone was 'funnin' you. :)
[11:46] {strider} "funnin": technical term used mostly in the Appalachians.
[11:47] {Threei} for his sake I hope he has per share commissions, with no minimum
[11:47] {Threei} or that cost him small fortune in commisions to buy, lol
[11:47] {strider} I think it was les.
[11:48] {Threei} ICXT nicely climbing
[11:49] {nemo} dino...looked at another chat, that DT on itmn was around it's open
[11:49] {Threei} be back in 20
[11:50] {dino} dt?
[11:51] {nemo} double top
[11:51] {dino} ahh, yes the dreaded dt
[11:51] {nemo} were you thinking delirium tremors?
[11:51] {ese} outte here all.....take care....we'll see ya when we see ya
[11:51] {RonS} Opinons on SXCI?
[11:51] {nemo} safe trip
[11:51] {dino} defensive tackle
[11:51] {jfjf64} see ya es
[11:51] {ese} tks dude
[11:51] {dino} strong ron
[11:51] {ese} jf vad dino et al.
[11:52] {dino} have fun es
[11:52] {larisa} bye ese, have a nice trip
[11:52] {RonS} ciao ese
[11:52] {nemo} not sure it's important ron, but, I have a long term resistance line (don't know when I put it in) at 63.05 and I'm getting a short signal right now
[11:53] {RonS} ...that's what i am thinking but I usually get scorched whith these...
[11:53] {nemo} Being near lunch, it might range for a while
[11:53] {fernp} bye ese, have fun
[11:54] {dino} tnh blood
[11:57] {RonS} CIEN hype:
[11:59] {dino} ron here i guess
[12:00] {dino} .96 sm s
[12:00] {RonS} I am waiting for an .88 break and retest
[12:01] {strider} .80 cent spread???
[12:03] {dino} on what
[12:03] {RonS} More CIEN:
[12:03] {strider} tnh
[12:03] {strider} dino
[12:03] {nemo} nice when vad's not here
[12:03] {dino} tnh -about 20 in 5 days
[12:04] {dino} ok
[12:05] {larisa} has anyone seen Cirque du Soleil - Love in vegas?
[12:05] {nemo} you mean "live"?
[12:05] {larisa} I am not HUGE beatles fan, so worried a bit
[12:05] {larisa} yes
[12:05] {dino} not i
[12:06] {RonS} There was a report today that India may rescind an export ban due to their burgeoning rice and wheat inventory. is this taking the fertilizer stocks down?
[12:06] {nemo} no...saw them here...awesome
[12:06] {larisa} "Love" ? or another show
[12:06] {dino} ferts are up
[12:07] {nemo} another show...can't remember the name...they were just so impressive
[12:07] {larisa} thanks :)
[12:07] {RonS} Then what up with TNH?
[12:07] {dino} dk
[12:07] {dino} pot mos up big
[12:11] {Threei} 12:03] {nemo} nice when vad's not here - fun's over
[12:12] {nemo} hehehehehe
[12:15] {Threei} SSTI Hearing Dealreporter speculates that SSTI could attract another bidder (3.28, +0.06, 1.86%) (related MCHP )
[12:24] {RonS} Nuts, missed SXCI
[12:24] {dino} cov sxci ave .42, +.54
[12:25] {nemo} dion look at itmn
[12:25] {nemo} dino
[12:26] {dino} what do you see
[12:26] {nemo} regret
[12:26] {dino} i missed tnh wanted db
[12:26] {dino} lol
[12:27] {nemo} need a bridge for that spread
[12:27] {dino} nah just go small
[12:28] {nemo} would need a roid pillow for that one
[12:28] {strider} nemo, want to go in together and split a share?
[12:29] {nemo} Scares me I find that funny
[12:29] {strider} I think I'd rather trade good
[12:29] {strider} goog
[12:30] {larisa} good is good too :)
[12:30] {dino} doog
[12:33] {dino} you're a daisy if ya do
[12:33] {dino} hmmm thought vad and nemo would get that
[12:34] {strider} whoooosh!
[12:34] {strider} over my head.
[12:34] {nemo} yeah....I recognize it, not sure though...thinking Tombstone
[12:35] {dino} indeed
[12:35] {nemo} Val Kilmer written all over it
[12:35] {dino} you look like somebody just walked over your grave
[12:35] {nemo} I'll be your Huckleberry
[12:35] {nemo} Let's do this...lunger.
[12:36] {dino} the greay wyatt walks on water
[12:36] {nemo} yeah
[12:36] {dino} thats alright, i've got two guns, one for each of you
[12:37] {dino} tnh wants up imo
[12:37] {strider} Do I have to start quoting 'the holy grail'?
[12:39] {dino} enoc
[12:39] {nemo} Who elected you King
[12:39] {nemo} Thou shalt count to three
[12:39] {dino} .oo sm l tnh
[12:39] {strider} how do you know he's a king?
[12:40] {nemo} coconuts?
[12:40] {nemo} poor vad
[12:40] {strider} hasn' got sh** all over him.
[12:40] {nemo} oh yeah
[12:40] {nemo} until he got to the french knights
[12:41] {strider} could I interest you in a shrubbery?
[12:41] {nemo} Ni!
[12:42] {RonS} MON drubbed
[12:42] {nemo} why
[12:42] {Threei} (US) Rep Frank aide: Frank stands by the US govt's guarantee of GSE debt (related FRE FNM )
[12:43] {RonS} do not see anything on MON
[12:43] {nemo} mmmmhhhh...brk.b riding vwap and about to run into 200 ma
[12:45] {strider} At last, made it into the green today.
[12:45] {nemo} tivo again
[12:46] {Threei} .40 break?
[12:46] {nemo} I'm thinking that
[12:46] {nemo} tight area though
[12:47] {nemo} aig been basing for a long time too
[12:54] {dino} out .67 tnh +.67
[12:55] {nemo} .45 on tivo
[12:58] {strider} General Motors to reinstate close to 1,000 dealerships, CNBC reports
[12:58] {strider} That didn't last long.
[12:59] {nemo} federally subsidized of course
[12:59] {strider} of course
[12:59] {strider} that's only fair.
[12:59] {nemo} 1/2 out tivo .49
[12:59] {dino} gj
[13:00] {nemo} get's past this pileup at .50 could be fun
[13:00] {Threei} (GE) German Chancellor Merkel: Germany and Greece can work together during hard times, pledges that the EU will defend the stability of the euro
[13:00] {Threei} - Praises Greek parliament for passing austerity measures.
[13:00] {Threei} - Markets are gaining confidence in Greece.
[13:00] {Threei} - Confirms that Greece has not asked for aid.
[13:00] {Threei} - Two countries have agreed to work on narrowing deficits.
[13:01] {strider} Hey, that could happen.
[13:09] {nemo} waitin' at .59
[13:09] {nemo} stop under .50
[13:14] {strider} good trade, nemo.
[13:15] {nemo} now stop according to bb average
[13:15] {nemo} ty
[13:16] {nemo} out
[13:16] {dino} gj
[13:16] {nemo} smelling a double top ty
[13:16] {dino} kdl
[13:16] {dino} kndl
[13:20] {nemo} thoughts on aig vad?
[13:21] {nemo} big offer .05
[13:21] {Threei} if market resumes upward, could be
[13:21] {Threei} also LULU
[13:22] {RonS} LULU is stretching
[13:23] {nemo} crap (as Les would say) looked away from aig
[13:30] {patience} .
[13:30] {dino} zzzzzzzzzzzzzzzzz
[13:33] {Threei} can you imagine the scale of fireworks coming after such plonolged lull?
[13:34] {jfjf64} x
[13:36] {Threei} CLNE... something happens there
[13:36] {RonS} RIMM drip, drip, drip
[13:40] {strider} Gotta take this $4 to the bank....back in awhile.
[13:40] {Threei} JAZZ?
[13:56] {nemo} rimm coming into lows, might bounce
[14:00] {Threei} 3 and half hours of market being immobilized
[14:02] {dino} tell me about it
[14:04] {nemo} geez...rimm did bounce
[14:07] {Threei} sure dino
[14:07] {Threei} it's like this
[14:07] {Threei} 10:30 comes, market stops moving
06[14:07] * nemo slaps Threei around a bit with a large trout
[14:08] {Threei} sigh
[14:08] {Threei} man asked to tell him... I do... I am being obliging and accomodating...
[14:08] {Threei} why am I getting slapped
[14:08] {nemo} because you're only doing it because your bored
[14:08] {dino} slappppppppppp
[14:08] {Threei} lol
[14:09] {Threei} JAZZ again
[14:09] {Threei} XNPT Announces restructuring including workforce reductions of 50%
[14:09] {Threei} - expects to incur cash expenditures in the first half of 2010 of up to $4.2 million related to the ... (7.93, +0.06, 0.76%) more...
[14:11] {Threei} by the way, remember Les saying recently that he tried to combine dino's and my strategies?
[14:11] {Threei} I had a frightening thought that his end result would be a T-Rex with three eyes
[14:11] {nemo} that would confuse Einstein
[14:11] {Threei} what a mutant
[14:12] {nemo} yeah..hard to believe someone gave birth to Les
[14:12] {Threei} not what I meant - I'll leave you two to duke it out
[14:13] {Threei} Market Internals update at 2:00pmET
[14:13] {Threei} - NYSE volume 525M shares, about 13% below its three-month average; advancers lead decliners by 6.5:1.
[14:13] {Threei} - NASDAQ volume 1.47B shares, about 8% above its three-month average; advancers lead decliners by 3.3:1.
[14:13] {Threei} - VIX index -5.75% to just over 17.50
[14:13] {nemo} all time low is around 14 I think
[14:16] {Threei} I thought closer to 10
[14:17] {nemo} o.k
[14:27] {dino} sm l .21 tnh
[14:38] {dino} itmn
[14:39] {Threei} looks like bounce time to you?
[14:39] {dino} dadadauhuhuhuh
[14:39] {nemo} or short
[14:39] {dino} short i was thinking, break of 00
[14:39] {nemo} just ran into vwap twice and couldn't breech that earlier swing high
[14:41] {Threei} (US) Preview: Jan Consumer Credit due out at 15:00ET
[14:41] {Threei} **consensus expectation: -$4.5Be v -$1.7B prior
[14:41] {Threei} - Note: Dec was the 11th straight month of credit contraction
[14:41] {Threei} VXX new low... lol
[14:42] {nemo} that could launch the market, remember what happened last month
[14:42] {Threei} true, but I am not sure I understand this p[articular report
[14:42] {Threei} last time around reaction was against common sense
[14:42] {Threei} if I remember correct
[14:43] {Threei} ly
[14:43] {nemo} well, the contraction was much smaller than the expected contraction
[14:43] {Threei} memory fails me then
[14:44] {dino} fade the faders fade
[14:44] {Threei} well, we will know in 16 minutes
[14:44] {Threei} dino started happy hour early or what, lol
[14:44] {dino} bored out of my mind
[14:45] {Threei} I know
[14:45] {dino} dmnd hod
[14:45] {RonS} RIMM percolating
[14:45] {Threei} but I wasted abuout 30 minutes perfetcly programming Bluetooth in my new car
[14:46] {Threei} now this thing calls by voice command - when it understands my accent
[14:46] {dino} lol
[14:46] {RonS} man, that is one smart device...
[14:46] {nemo} now you just have to program it to say "Piss off"
[14:47] {Threei} not really Ron... I said "bring me some beer"... non communicado
[14:47] {RonS} ...Gordon Ramsey-style
[14:48] {Threei} this is something to be careful about nemo... each phone number has a voice-tag to it... I may use that opne for your phone number... or jf.. haven't decided yet
[14:48] {dino} visions of chilli burgers running through my mind
[14:49] {dino} itmn not dropping
[14:50] {nemo} no not with that report coming
[14:51] {Threei} let's keep VXX on the screen
[14:52] {Threei} if report sends market down, VXX will jump like anthelope that got a good squirt of turpentine up its butt
[14:53] {dino} wow
[14:53] {Threei} to refresh:
[14:53] {Threei} **consensus expectation: -$4.5Be v -$1.7B prior
[14:54] {Threei} hmmm
[14:54] {dino} market stays like this in afternoons i will need to stock up on 5 hour energy
[14:54] {nemo} take a nap at lunch
[14:55] {Threei} expectations are so stretched... hard to imagine number coming in even lower
[14:55] {Threei} as if it were pre-designed to push market up
[14:55] {nemo} funny...fas showing it wants to drop
[14:56] {Threei} after 11 straight months of contraction, is it realistic to expect -4.5B vs last reading of -1.7?
[14:56] {dino} tnh stopped -.24
[14:56] {nemo} they expected like 12 last month maybe 13
[14:57] {Threei} yes, but almost three times bigger drop vs lat month?
[14:57] {Threei} I don't remember what the Nov read was
[14:57] {Threei} so don't know how expctations compared to that
[14:58] {nemo} if credit actually expanded look out above
[14:58] {Threei} or not
[14:58] {Threei} I mean... we did rally for something, right?
[14:58] {nemo} yeah unemployment
[14:59] {Threei} getting finally credit flowing, and reversing to the downside on that would be so oefectly evilish
[14:59] {Threei} perfectly
[14:59] {nemo} not today
[14:59] {nemo} fas already taking off
[14:59] {Threei} OK... be that way
[14:59] {nemo} bet shots
[14:59] {nemo} see ya
[15:00] {Threei} *(US) JAN CONSUMER CREDIT: $5.0B V -$4.5BE
[15:00] {nemo} told ya'
[15:00] {dino} back in 10
[15:00] {nemo} 200 point day today
[15:00] {larisa} nah :)
[15:00] {nemo} o.k. lari, how much?
[15:01] {larisa} +20 max
[15:01] {larisa} but i want red
[15:01] {nemo} 20 more, or lose 100 from here
[15:01] {larisa} lol. closing +20, do not confuse me
[15:01] {Threei} full text:
[15:01] {Threei} *(US) JAN CONSUMER CREDIT: $5.0B V -$4.5BE; first increase in 12 months
[15:01] {Threei} - prior revised lower from -$1.7B to -$4.6B
[15:01] {Threei} - Revolving credit -$1.67B v -$8.5B prior (16th straight decline; longest decline on record)
[15:02] {Threei} scalped VXX on a short side from .91
[15:04] {Threei} covered a bit too soon
[15:04] {Threei} but it feels so wierd to short this
[15:04] {Threei} like stretching ovetrstreched rubber band by another couple inches
[15:10] {RonS} RUT just hit and retreated from 666
[15:11] {strider} .
[15:12] {RonS} Vad, time for some TWM?
[15:13] {Threei} .60 break...
[15:14] {Threei} maybe, desirably with little retreat first
[15:14] {Threei} so we have something close to doublre bottom
[15:18] {dino} .
[15:23] {Threei} are we reversing finally, or just a little hiccup
[15:24] {jfjf64} vxx
[15:25] {strider} got +.14 long on the VXX
[15:25] {fernp} have a nice weekend everybody. see you all on monday
[15:26] {jfjf64} later
[15:26] {Threei} good one strider
[15:26] {Threei} take care fern, have a good one
[15:30] {dino} cya fern
[15:35] {dino} gj strider
[15:35] {dino} my dial up is slow
[15:38] {Threei} lol
[15:39] {jfjf64} was wondering dino thought ya sleepin
[15:40] {dino} should be
[15:40] {jfjf64} ditto
[15:41] {Threei} no 200
[15:41] {Threei} no drop either
[15:41] {Threei} we will end up right here, lol
[15:41] {dino} trying to figure out if tnh gets some back into close
[15:41] {dino} .05 sm l
[15:42] {dino} lol
[15:42] {nemo} .35 spread oy
[15:42] {dino} wide one
[15:42] {larisa} what a market, gets to the level and just sits. lazy like vad
[15:43] {Threei} great
[15:44] {Threei} now I am a poaster boy for laziness
[15:44] {Threei} poster
[15:44] {Threei} wait... I am
[15:44] {dino} ipcc
[15:44] {Threei} and proud of it
[15:44] {dino} out .74, +.69 tnh
[15:44] {jfjf64} time for a few cocktails
[15:44] {Threei} read this and wheep:
[15:44] {jfjf64} dino wtg
[15:44] {nemo} piss off jf
[15:45] {Threei} Congressional Budget Office (CBO): Obama proposed budget would incur $9.76T in deficits and publicly held debt would grow to 90% of GDP by 2020
[15:45] {Threei} - revises 2010 budget deficit to $1.5T from $1.3T on 1/26; 2011 budget deficit revised to $1.3T from $980B forecasted on 1/26
[15:45] {Threei} - deficit under the Presidents proposals would fall to about 4% of GDP by 2014 but would rise steadily thereafter
[15:45] {dino} ty jf
[15:45] {Threei} - cumulative deficit over the 2011-2020 period would equal $9.8T (5.2% of GDP), $3.8T more than the cumulative deficit projected in the baseline. Of that difference, roughly $3.0T stems directly from proposed changes in policy and another $0.8T results from additional interest on the public debt.
[15:45] {Threei} - largest budgetary impact would stem from the Presidents proposals to index the alternative minimum tax (AMT) for inflation and to extend various tax provisions contained in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA). Over the next 10 years, those policies would reduce revenues and boost outlays for refundable tax credits by a total of $3.0T
[15:45] {Threei}
[15:47] {RonS} 7th gen American starts singing Oh Canada...
[15:48] {dino} well i must say for such a boring day it was very profitable
[15:48] {RonS} ...and starts planning a Vad migration
[15:48] {Threei} in the black here too dino
[15:48] {dino} good to hear
[15:48] {Threei} and this concludes 4th straight week of profit, no single losing day
[15:48] {dino} 686
[15:48] {nemo} Bet we break new highs next week
[15:49] {dino} i have three down days since feb 1st
[15:49] {Threei} I am starting to scare myself
[15:49] {nemo} agree with me?
[15:49] {Threei} goitta stage losing day to get it out of my system
[15:49] {RonS} here too but small...have a good weekend everyone
[15:49] {Threei} take care Ron
[15:49] {nemo} you want me to call trades on Monday Vad :)
[15:49] {dino} gj ron, u2
[15:49] {dino} wow tnh to 87
[15:49] {Threei} yes nemo, please do
[15:50] {nemo} hehehehe
[15:50] {Threei} I just can't lose under this arrangement
[15:50] {jfjf64} good work vad
[15:50] {Threei} you call them good - I brought in new talent
[15:50] {jfjf64} hv great weekend all
[15:50] {Threei} you are disaster - everyone appreciates me more
[15:50] {nemo} bye JF
[15:50] {Threei} take care jf
[15:50] {jfjf64} bye nemo
[15:51] {nemo} could be a big gap up on Monday, because Asia and Europe haven't traded on the American reports yet
[15:51] {larisa} nemo optimist all of a sudden
[15:52] {nemo} analyst
[15:52] {dino} cya jf
[15:52] {nemo} optimism is only relevant in picking the direction that makes me the most money
[15:52] {dino} thx all, good time
[15:52] {nemo} I'd be just as happy if the market tanked
[15:52] {Threei} okay guys, let's hacve a great weelend
[15:52] {Threei} thank you all
[15:52] {larisa} see you :)
[15:52] {Threei} see you on Monday
[15:52] {nemo} bye
[15:53] {lasertrev} have a good weekend all

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