RealityTrader Trading Log

Monday, March 1, 2010

Mon Mar 01 2010

The day started with two rinses, on VVUS and AIG. Then very nice string of ARBA long for 20 cents, FCX long for 40 cents, VXX short, TM short and AIG long took us solidly in black. Couple calls after that were made discretionary (with strong odds of being rinsed, only for those who really wanted then), and both did get rinsed for 5 and 10 cents. Pattern of profits being concentrated in the first hour or two, with market frozen after that continues.

Session Time: Mon Mar 01 00:00:00 2010
[08:22] {Threei} 07:05 VVUS FDA accepts Qnexa NDA (obesity) for review
[08:23] {Threei} The target date for the FDA to complete its review of the Qnexa NDA is October 28, 2010. In previously announced pivotal phase 3 trials, patients treated with all three doses of Qnexa achieved significant weight loss compared to placebo, and significant dose-related improvements in a variety of secondary endpoints including reductions in cardiovascular, inflammatory and metabolic risk factors.
[08:23] {Threei} 05:10 AIG Prudential (UK) to acquire AIA for $35.5B in cash and equity (confirms speculation, pricing as expected); pre-releases FY09 figures
[08:23] {Threei}
[08:28] {Threei} USD/CHF Invest Warren Buffett: Would pick the CHF if forced to choose a currency to invest in - CNBC
[08:28] {Threei} why do I fiond it hard to believe
[08:29] {Threei} SQNM Hapoalim Securities Raised SQNM to Hold from Sell
[08:31] {Threei} *(US) JAN PERSONAL INCOME 0.1% V 0.4%E; PERSONAL SPENDING: 0.5% V 0.4%E
[08:31] {Threei} - Prior Personal Income revised lower from 0.4% to 0.3%
[08:31] {Threei} - Prior Personal Spending revised higher from 0.2% to 0.3%
[08:37] {ese} morning
[08:38] {Threei} ese :)
[08:38] {nemo} dude
[08:38] {ese} dude
[08:39] {nemo} mmmhhhh...spy setting resistance
[08:45] {Threei} Fed's Lacker: US must establish boundaries within the financial safety net; creating a fund for failing firms would be the wrong direction
[08:45] {Threei} no kidding
[08:56] {Threei} watching VVUS pullback
[08:58] {Threei} haven't traded below .70 today yet, and big bid .75
[08:58] {Les} well Warren Buffet has good taste in currencies
[08:58] {Les} morning :)
06[08:58] * nemo slaps Les around a bit with a large trout
[08:59] {Threei} Les :)
[08:59] {Threei} that line by him stinks to high heaven
[09:00] {Les} sun sun sun and 50 something degrees outside. Started the springtime gardening
[09:01] {Threei} that was our average for the whole wonter
[09:02] {ese} i must be blind....just noticed osip....+18and change
[09:02] {Threei} buyout
[09:03] {Threei} 01 Mar 2010 06:13 [OSIP] Astellas Pharma offers $52/shr (40% premium); All cash deal valued at $3.5B (update
[09:03] {Threei} not sure why it trades above offer
[09:06] {fernp} Good morning everybody
[09:06] {Threei} fern :)
[09:06] {Les} hey fern
[09:07] {_jfjf64} mornin
[09:07] {Threei} jf :)
[09:08] {_jfjf64} missed ya yest sorry
[09:08] {Threei} I ducked
[09:08] {_jfjf64} lol
[09:09] {_jfjf64} aig 28.40 set up ya lk
[09:09] {Threei} up way too much
[09:09] {_jfjf64} ty k
[09:09] {Threei} it will be volatile
[09:10] {Les} wow NUVA
[09:10] {Threei} let's wait out first minutes when it's going to be supervolatile
[09:10] {dino} gm all
[09:10] {Threei} dino :)
[09:10] {_jfjf64} ya da boss
[09:11] {Les} I got screwed by 10 cents trying to short NUVA towards the end. Then it hit me I should have gone long for small shares over weekend.
[09:11] {Threei} NUVA was hatled after close on Fri
[09:11] {Les} why?
[09:11] {Threei} NuVasive Inc United Health adjusts Policy on XLIF
[09:11] {Threei} - Note: AET also announced a reversal in policy earlier
[09:11] {Threei} - United Healthcare changed its lumbar spinal fusion policy to include coverage for the eXtreme Lateral Interbody Fusion, or XLIF procedure, published on February 26, 2010, a reversal from its previous policy that labeled XLIF as unproven.
[09:11] {Threei} - The updated policy removes XLIF from the list of unproven spinal fusion techniques and adds coding clarification in line with the North American Spine Society (NASS) recommendation letter dated January 5, 2010.
[09:12] {Les} but that wouldn't affect a long holding over weekend though?
[09:12] {dino} pound sterling hit 2%
[09:12] {Threei} what do you mean wouldn't affect?
[09:12] {Threei} it was unexpected new, causing halt
[09:12] {Les} If I was long 100 shares at close
[09:13] {Threei} how do you know that news was coming, what kind of news that was and how it would impact the price?
[09:13] {Threei} why would you?
[09:13] {Threei} was there any kind of setup?
[09:14] {Threei} stock was up frikin 10 bucks
[09:14] {Threei} is this really something you want to take homw?
[09:14] {Les} for a quick date over the weekend? maybe
[09:14] {Threei} get caught in halt, run into negative news and found yourself down 5 dollars Monday morning?
[09:14] {Les} to meet my mama, thats something else
[09:15] {Threei} good luck with that strategy
[09:15] {Les} hmm well when you put it like that
[09:15] {dino} snda, hbc, osip,
[09:15] {Threei} just don't tell anyone this is anything I teach
[09:16] {Threei} FDA to convene Tobacco advisory committee meeting March 30 and 31
[09:16] {Threei} - to discuss health effects of menthol in cigarettes
[09:16] {Threei} menthol has any health effect?
[09:19] {lasertrev} morning
[09:19] {Threei} trev :)
[09:22] {_jfjf64} vad real quick is there way to set up an alert for ya calls
[09:22] {dino} fnm needs another 15 b, thanks barney
[09:22] {Threei} in mirc, yes
[09:22] {Threei} in mibbit, no idea
[09:23] {_jfjf64} whats mirc
[09:23] {Threei} yeah dino... bottomless pit
[09:23] {Threei} software to connect the room
[09:23] {Threei}
[09:23] {_jfjf64} im in mibbit no prob
[09:24] {Threei} scroll down to indtructions
[09:24] {Les} any news on GAME vad?
[09:24] {Threei} there are two ways listed
[09:24] {Threei} yes
[09:24] {dino} yes les hit targets
[09:24] {dino} snda beat, owns game i think drops too
[09:24] {Les} snda, of course
[09:24] {Threei} Shanda Games Limited Reports Q4 $0.22 (adj) v $0.20e, R$196M v $195Me; To buy back up to $150M in stock (about 5% of market cap)
[09:24] {Threei} Shanda Games Limited Guides Q1 Rev down 10-15% q/q (implies R$166.6-176M v $208Me)
[09:25] {Threei} bad guidance dino
[09:25] {dino} i trade snda alot, big moves always
[09:26] {dino} ty vad, mossed that
[09:26] {dino} snda would not surprise me if goes to 40
[09:28] {billyc} gm everyonr
[09:28] {Threei} billy :)
[09:28] {strider} morning folks.
[09:28] {billyc} vad
[09:28] {Threei} strider :)
[09:28] {strider} :)
[09:29] {ese} ahhhhhhh what do you say in the army..."theres no life like it" just got out of the brand new hot relxed for the mrkt now!
[09:29] {Threei} lol
[09:29] {larisa} gm :)
[09:29] {Threei} larisa :)
[09:29] {dino} nice es, still waiting for mine
[09:29] {Threei} GS Goldman Sachs board rejects shareholders request for say on pay - CNBC (156.35, 0.00, 0.00%)
[09:30] {ese} man dino.........just wait'll be trading from it
[09:30] {Threei} let's see in VVUS form breakput
[09:30] {dino} lol
[09:30] {Threei} Long Setup: VVUS .80 break
[09:30] {Threei} if stays above .70
[09:31] {Threei} Long Setup: AIG .80 half lot
[09:31] {Threei} stop under .60
[09:32] {Threei} not this time AIG
[09:32] {ese} L jnpr .00
[09:33] {ese} out 1/2 avg .09
[09:34] {ese} break even remainder
[09:34] {Threei} no worky VVUS
[09:35] {_jfjf64} sndk
[09:35] {fernp} stopped VVUS
[09:35] {nemo} rinsed
[09:36] {Threei} Short Setup: FCX .50 break half lot
[09:36] {ese} out remainder .13
[09:37] {nemo} invalidated
[09:40] {dino} athn sm l .00
[09:40] {dino} out vvus .93, +.12 ty vad
[09:41] {Threei} nice dino
[09:41] {Threei} rinsed me
[09:41] {dino} yeah, close for me too
[09:42] {billyc} out vvus + .12
[09:42] {nemo} guess not holding your stops paid off
[09:42] {dino} my nose bleeding?
[09:43] {dino} cov fcx .37, +.12 ty vad
[09:44] {Threei} in scalping mood this morning eh?
[09:44] {Threei} FFIV... probably your client soon, dino
[09:44] {dino} bought some r.e., need to get average up, so using you for early trades. tweeking it
[09:45] {nemo} guess early morning stops need to be wider
[09:45] {Threei} ASIA
[09:46] {dino} snda lod
[09:46] {Threei} let's see if we get pullback in .40 or so
[09:46] {ese} out brcm .80
[09:46] {ese} thats my little 500shs lot from last thursday
[09:46] {Threei} FCX slow death
[09:47] {Threei} Long Setup: RJET .40 break
[09:47] {Threei} if stays above .30
[09:47] {dino} out athn, 74, +.74
[09:47] {Threei} wow
[09:48] {dino} lucky s[ike was laying out
[09:48] {dino} kept going tho
[09:48] {Les} incredible dino. I saw overhead resistance. skipped it
[09:48] {Threei} US) Preview: Feb ISM Manufacturing due out at 10:00ET
[09:48] {Threei} - ISM Manufacturing: 57.9e v 58.4 prior (estimates range between 55.0 to 60.7).
[09:49] {dino} lucky les, thats all
[09:49] {Les} always
[09:49] {Les} MELI 42 break?
[09:50] {Threei} if you don't mind very bulymic stock
[09:50] {Threei} even half lot is scary on it
[09:50] {Les} you mean she's slim and great looking?
[09:51] {Threei} slim yes
[09:51] {_jfjf64} sndk monster
[09:51] {Threei} RJET invalidated
[09:51] {Les} what do you make of GAME dino?
[09:52] {Threei} no pullback ASIA...
[09:52] {dino} prefer snda over it
[09:52] {Les} ok
[09:52] {dino} snda feels hi 39s
[09:53] {Threei} Long Setup: DRIV .60 break
[09:53] {dino} les, trust your gut, i am wrong lots
[09:53] {Threei} if stays above .50
[09:54] {dino} but game, if it gets 6.50s i will look
[09:54] {Les} my gut says its time for a beer
[09:54] {dino} lol
[09:54] {nemo} hands shakin' Les?
[09:54] {Threei} your gut is good 10 hours ahead of us
[09:54] {dino} first day i feel ok in last 5, had heck of a cold
[09:55] {dino} watching athn again
[09:56] {Threei} Long Setup: ARBA .20 break
[09:56] {dino} pwrd bloody
[09:56] {Threei} scalpers - if holding abpve .10, day traders above 12,
[09:57] {Threei} and has potential for a bigger move if market helps just a tad
[09:57] {dino} arba a pulp stock?
[09:57] {Threei} sometimes
[09:57] {dino} ty
[09:58] {Threei} most days it's quiet
[09:58] {Threei} but now and then it gets possessed
[09:58] {Threei} and moves like a freight train
[09:58] {dino} is that the same arba from go go 90s
[09:58] {Threei} daily's nice
[09:58] {Threei} yes, same and only
[09:59] {dino} ahhh
[09:59] {Threei} onwew of "has beens" :)
[09:59] {Threei} one
[10:00] {dino} mkt drops
[10:00] {dino} all red
[10:00] {Threei} *(US) FEB ISM MANUFACTURING INDEX: 56.5 V 57.9E
[10:00] {Threei} US) JAN CONSTRUCTION SPENDING M/M: -0.6% V -0.6%E
[10:00] {Threei} PRICES PAID: 67 V 68.0 PRIOR
[10:00] {nemo} missed arba
[10:00] {dino} wow missed snda
[10:01] {nemo} didn't give much warning dino
[10:01] {nemo} markets bounced right back
[10:01] {dino} no and i was at 39.88
[10:02] {dino} deck animal again
[10:02] {Threei} FCX
[10:02] {Threei} probably ready to revers\e
[10:03] {Threei} looking for double bottom
[10:03] {dino} 75.16 gap fwiw
[10:03] {nemo} maybe not vad...this jump in fcx was on chile
[10:03] {Threei} no doubt
[10:04] {nemo} aig testing support
[10:04] {Threei} but pulled back significantly
[10:04] {Threei} should become just your normal traders toy
[10:04] {Threei} .90 break long
[10:04] {Threei} half lot of course
[10:04] {Threei} dtop under .70
[10:04] {Threei} stop too
[10:05] {dino} ok
[10:06] {Threei} 1:1
[10:06] {dino} mos sm l .50
[10:06] {Threei} 1:2 close
[10:06] {Threei} here
[10:06] {Threei} out
[10:06] {Les} nice one. got the trade mixed up with AIG. belt up Nemo :)
[10:06] {Threei} ARBA 1:1
[10:06] {dino} out fcx .30, +.39 ty vad
[10:07] {Threei} welcome sir
[10:07] {dino} you da man today
[10:07] {Threei} only if you sit out morning rinse
[10:07] {Threei} which you did
[10:08] {Threei} I am just getting back in black
[10:08] {_jfjf64} lets go papa
[10:09] {dino} athn sm l .50
[10:09] {Threei} scalpers take ARBA profot, day traders half out
[10:10] {Threei} stop to under b/e
[10:10] {_jfjf64} ty
[10:10] {dino} missed arba
[10:10] {Threei} and aim for around .40 - .50 for second half
[10:12] {Threei} crap
[10:12] {Threei} ASIA pulled back right where I wanted it, to .40
[10:13] {Threei} not enough eyes
[10:14] {dino} change your name to 4 eyes
[10:14] {dino} you take meli les?
[10:14] {Threei} I look like mutant as it is
[10:15] {Les} crap. forgot about it. Not enough memory
[10:15] {_jfjf64} sndk .70 vad
[10:15] {_jfjf64} or wait pullbk
[10:15] {Threei} can't tell jf, sorry
[10:16] {_jfjf64} good enough me ty
[10:16] {Les} XNPT on its way down
[10:16] {Threei} EVVV Canaccord Adams adds to their Best Idea list (timing uncertain)
[10:16] {Threei} - EVVV rated Buy (14.96, +0.41, 2.82%)
[10:18] {strider} KO may be bottoming.
[10:19] {Threei} Long Setup: VXX on pullback to .60
[10:20] {_jfjf64} missed
[10:20] {_jfjf64} grrrrrr
[10:20] {Les} long SNDA 42
[10:21] {Les} long TBT .37
[10:21] {dino} out athn .81, +.31
[10:24] {dino} .20 area support imo
[10:25] {Threei} VXX never pulled back
[10:25] {Threei} oh well
[10:26] {dino} ? you play inverse that on mkt turns?
[10:27] {Threei} generally, yes
[10:27] {dino} thought so
[10:27] {Les} stopped tbt
[10:30] {Les} BXS 20 break?
[10:30] {dino} imo y for scalp
[10:30] {Threei} I think so
[10:31] {ese} damn...nice one athn dino......tossed that one around and didn't do it...gj
[10:31] {dino} thx
[10:31] {Threei} big offers at 20 deserve a try if taken
[10:31] {dino} bxs wait for .01 trig imo
[10:32] {Threei} Market Internals update at 10:30amET
[10:32] {Threei} - NYSE volume 210M shares, about 15% below its three-month average; advancers lead decliners by 4.9:1.
[10:32] {Threei} - NASDAQ volume 580M shares, about 15% above its three-month average; advancers lead decliners by 3.1:1.
[10:32] {Threei} - VIX index flat at just over 19.50
[10:32] {Les} SNDA stopped
[10:34] {dino} out mos -.10
[10:34] {_jfjf64} wow only hour in
[10:35] {Threei} I think by now you all know who is on TV so I won't ask
[10:35] {nemo} Evangelina Lilly
[10:35] {Threei} Larisa won't get mad at me too, additional benefit
[10:36] {dino} dagny taggart
[10:36] {Threei} wow, lol
[10:36] {Threei} that's a bew one
[10:36] {Threei} new too
[10:36] {dino} i picture her as a very atractive, confident lady
[10:37] {dino} sort of like patience and larisa
[10:37] {Threei} dagny? or larisa?
[10:38] {fernp} LEAP, Vad?
[10:38] {Threei} Short Setup: VXX .90 break half lot
[10:38] {Threei} if stays under 26
[10:38] {Les} WFMI .11 break?
[10:39] {Threei} LEAP, won't be fast but certainly deserves a try
[10:39] {fernp} ty
[10:39] {Threei} I like it Les
[10:39] {dino} vxx
[10:40] {nemo} fcx .60 break? stop a little big though
[10:40] {Threei} yes
[10:41] {Threei} stop is of concern, so I'd try it different way
[10:41] {Threei} pullback closer to .50
[10:41] {ese} L uaua .05
[10:41] {nemo} you talkin' ta me?
[10:41] {Threei} yes
[10:42] {nemo} what line that from Les?
[10:43] {Les} I've said that many times, but can no longer remember its origin
[10:43] {dino} willis
[10:43] {Threei} VXX 1:1
[10:43] {nemo} Travis Bickle=Robert DeNiro
[10:43] {Les} taxi driver
[10:43] {fernp} ty vad
[10:43] {Les} never watched that one in full
[10:43] {Threei} WFMI 1:1
[10:43] {Threei} smelled market reversal
[10:43] {ese} out uaua .12 +.07
[10:44] {Threei} wtg ese
[10:44] {dino} gj
[10:46] {nemo} .70 break fcx stop under .60?
[10:46] {_jfjf64} tna vad
[10:47] {Threei} needs strong market support nemo
[10:47] {dino} athn
[10:47] {Threei} I doubt it will happen
[10:47] {Threei} likely to be a trap
[10:47] {nemo} looking more like that
[10:47] {Threei} TNA...
[10:48] {nemo} big offer fcx at .70
[10:48] {Threei} toughie jf
[10:48] {Threei} most likely long, but not an easy play
[10:49] {Threei} market jumped for some reason
[10:49] {Threei} pushed FCX
[10:49] {Threei} notice, VXX didn't drop with it
[10:50] {_jfjf64} why
[10:50] {dino} athn sm l .25
[10:50] {ese} L brcm .81
[10:50] {Threei} no idea jf
[10:50] {Threei} just observing to keep it in mind for the future plays
[10:51] {nemo} qs new highs
[10:51] {nemo} solid volume
[10:52] {Les} SNDA
[10:52] {_jfjf64} sndk
[10:53] {Threei} Long Setup: AIG .40 break
[10:53] {ese} out brcm .87 +.06
[10:53] {dino} vxx bstop to flat
[10:55] {Threei} stop under .30 AIG
[10:58] {dino} cov vxx .80, +.10
[11:02] {Les} OSIP
[11:03] {Les} NVDA .70 BREAK?
[11:03] {Threei} I doybt it
[11:03] {Les} .71 break
[11:03] {dino} hbc new lows
[11:05] {Threei} ARBA hit second target
[11:08] {nemo} volumes still strong.
[11:11] {Threei} VXX more downside... without me though
[11:11] {Threei} same for ARBA
[11:11] {Threei} nailed market reversal to the minute... underestimated the strength though
[11:11] {nemo} yeah, fcx woulda' been a nice one
[11:11] {Threei} very
[11:12] {nemo} might have a dt around .40
[11:12] {dino} good timing
[11:14] {dino} out athn .71, +.46
[11:14] {ese} that .40 brea aig still good
[11:14] {ese} break
[11:16] {Threei} nah
[11:16] {ese} tks
[11:16] {Threei} pullback to .20, yes, I'd be a buyer
[11:16] {nemo} got support at .25
[11:19] {ese} am lookin for that pull back too vad
[11:20] {Threei} doesn't want to
[11:20] {ese} nope
[11:20] {_jfjf64} nope
[11:20] {Threei} ANTH IPO opens for trading at $7.00 (7.10, 0.00, 0.00%)
[11:22] {_jfjf64} aig gonna pay us patience
[11:25] {ese} i think it should pullback to at least .40....that looks like a good buy point to me
[11:25] {_jfjf64} look at ya vxx pullbk
[11:25] {_jfjf64} missed it
[11:27] {fernp} F is happy today
[11:28] {fernp} and TM is not very happy :-)
[11:28] {nemo} fcx going for resistance again
[11:30] {dino} snda sm l .02
[11:35] {_jfjf64} c/h aig
[11:36] {nemo} if fcx breaks resistance likely to test the highs
[11:36] {Threei} Short Setup: TM .60 break half lot
[11:38] {nemo} stop .80?
[11:38] {Threei} .75 if sets up from here
[11:39] {dino} snda stop is .69 fwiw
[11:40] {_jfjf64} aig breakin dn
[11:40] {dino} stopped
[11:41] {Threei} market feels like reversing to the downside
[11:41] {Threei} unless it's a headfake
[11:41] {Threei} can't twell for now
[11:41] {Threei} tell
[11:42] {Threei} volume is not really indicative
[11:42] {Threei} shaped for a breakout first, then for breakdown, all within 30 min
[11:43] {dino} gut says drop coming
[11:43] {nemo} lunch coming
[11:43] {dino} that too
[11:43] {Threei} mine too
[11:43] {Threei} drop I mean, not lunch
[11:43] {Threei} good buy TM
[11:44] {Threei} lose .50 and dies
[11:44] {dino} vxx l .85
[11:44] {Threei} die
[11:47] {_jfjf64} aig
[11:49] {Threei} TM 1:1
[11:49] {Threei} scalpers be happy
[11:49] {Threei} the rest cover half
[11:49] {fernp} ty Vad
[11:49] {Threei} welcome
[11:50] {Threei} shapes up as a good day, despite morning rinse job
[11:53] {dino} vxx stopped -.11
[11:53] {dino} taking break
[11:56] {Threei} Obama Owes Harper 24-pack of Molson for Hockey Win
[11:56] {dino} thought it was yeugling
[11:59] {Threei} I guess patrotism makes Harper pick Molson
[11:59] {Threei} even though it's second to last beer I'd elect
[12:00] {Threei} (US) White House: To announce nominee to replace Fed's Kohn by the end of June
[12:00] {Threei} ***Note that earlier in the session, Fed Vice Chair Kohn said he would resign from Board of Governors when term ends, effective June 23. Kohn became a board member in 2002. Kohn's retirement will leave three open seats on the Fed's board.
[12:00] {Threei} 3 eh
[12:00] {Threei} people don't want to be Fed governiors anymore?
[12:01] {dino} snda rinsed
[12:02] {Threei} Market Internals update at 12:00pmET
[12:02] {Threei} - NYSE volume 385M shares, about 9% below its three-month average; advancers lead decliners by 5.3:1.
[12:02] {Threei} - NASDAQ volume 1.1B shares, about 17% above its three-month average; advancers lead decliners by 2.6:1.
[12:02] {Threei} - VIX index -0.75% at just over 19.00
[12:05] {dino} pwrd sm l .70
[12:08] {nemo} so market basically tracked sideways to the trend line instead of pulling back
[12:08] {Threei} Russian President Urges Sport Officials to Step Down
[12:09] {nemo} mmmhhhh....I see a wall in his future
[12:09] {Threei} reversal was short lived
[12:10] {Threei} enough to help TM hit 1:1, that's it
[12:10] {Threei} but I find it difficult to determine whether we break out from here or reverse
[12:10] {nemo} lunch time
[12:10] {Threei} most likely, we stay locked here, with headfakes in both directions
[12:10] {Threei} got for a break eitger way, get trapped
[12:11] {Threei} that's my working scenario
[12:11] {nemo} have to catch pullbacks in the range
[12:11] {Threei} right
[12:11] {Threei} fade fale breakouts is the only strategy I'd try here
[12:11] {Threei} fake
[12:11] {nemo} ?
[12:11] {nemo} you mean fade failed breakouts?
[12:12] {Threei} fade fake
[12:12] {nemo} fade fake breakouts
[12:12] {Threei} right
[12:12] {nemo} fading a failed fake breakout is actually taking the break?
[12:12] {Threei} yes
[12:12] {Threei} which is not what I call for
[12:12] {nemo} might wnat to short fcx here then
[12:13] {nemo} I feel like the little guy in the princess bride trying to figure out if the drink is poisoned
[12:15] {dino} lol
[12:15] {nemo} see that movie Les?
[12:22] {Threei} one stock that irritaes me for a week straight... EAVX
[12:22] {Threei} WAVX
[12:23] {dino} pretty good move on it
[12:23] {Threei} ever since it broke 3...
[12:23] {Threei} day after day, can't find an entry on it
[12:25] {nemo} Think the market legs up again after lunch?
[12:26] {Threei} anyone's guess
[12:34] {Threei} keep an eye on AIG for bounce scalp
[12:35] {_jfjf64} on it
[12:35] {Threei} .35 long
[12:35] {nemo} x
[12:35] {Threei} just a scalp
[12:36] {Threei} exit above .40
[12:38] {nemo} whaddya think about rimm bounce?
[12:39] {Threei} starting liking X for a break...
[12:39] {Threei} RIMM, yes, just a little xconsolidation
[12:40] {nemo} only thing about X is R3 pivot resistance is at .59
[12:45] {Les} what are we in Vad?
[12:46] {Threei} everything is discretionary at this point
[12:46] {dino} bowl of soup
[12:46] {Threei} I personally am in AIG
[12:46] {Les} .35?
[12:46] {Threei} yes
[12:47] {Les} dino, you looking at anything?
[12:47] {Threei} dino} yes - bowl of soup
[12:47] {Les} sorry, forgot its lunch time
[12:48] {dino} in pwrd at .70 sm l
[12:48] {dino} want .10
[12:54] {nemo} aig holding well in this pullback
[12:56] {Threei} the biggest challenge is not to fall asleep... not to break the keyboard with my chin... not to break the chin with desk...
[12:56] {nemo} not to break the floor with your head
[12:58] {Threei} fiiiinally
[12:58] {Threei} out
[12:59] {Threei} took its sweet time but reinforced the profit
[13:03] {_jfjf64} vad vxx
[13:04] {Threei} I sewe no play there jf
[13:05] {Threei} you did AIG?
[13:05] {_jfjf64} y
[13:05] {Threei} out already?
[13:05] {Les} out .45 +.10 AIG thank you
[13:05] {Threei} :)
[13:06] {dino} scok
[13:06] {Threei} no way
[13:06] {dino} wide
[13:06] {Threei} 70 cents spread
[13:06] {Threei} that's too much even for you
[13:07] {dino} rose
[13:07] {dino} pwrd .96 has been wall
[13:10] {dino} bxs thinking range play, .80 to .90s
[13:13] {Threei} wow AIG
[13:16] {dino} just think if they sell off everything they would trade at 100 i guess
[13:18] {Threei} hehe
[13:19] {ese} well i gotta go....see you tomorrow
[13:20] {_jfjf64} see ya
[13:20] {Threei} take care ese
[13:21] {dino} cya
[13:24] {dino} mdvn
[13:26] {Threei} NYT Hearing chatter of possible going-private transaction
[13:26] {Threei} - Hearing offer in $18-20/shr range (11.31, +0.37, 3.38%)
[13:29] {Threei} nice move
[13:29] {Threei} momo
[13:35] {nemo} what's with amzn today?
[13:37] {_jfjf64} anythin on ya rader
[13:37] {Threei} BRK.B
[13:46] {Les} BXS stuck at 20
[13:48] {Threei} BRK.B is momo-looking
[13:48] {nemo} A warren buffet momo stock...have a hard time getting my head around that
[13:48] {Les} He's playing the Wall St. game...
[13:49] {Les} s SNDA .99
[13:49] {_jfjf64} and what is that les
[13:49] {_jfjf64} lol
[13:50] {Les} oh piss off jf, one Vad in this room is enough
[13:50] {Les} :)
[13:50] {Threei} enough? I thought too much {G}
[13:50] {_jfjf64} lol
[13:50] {nemo} x at highs
[13:51] {_jfjf64} comon vad need lk a 20 cent move my friend
[13:51] {Threei} I see plenty of those
[13:51] {Threei} problem is, you want one in your favor...
[13:52] {_jfjf64} yes
[13:52] {nemo} x broke
[13:52] {Threei} BRK.B is likely to bounce of .55 roughly
[13:53] {Threei} X, .40 - .45 is zone of interest
[13:54] {_jfjf64} on puulbk of course
[13:54] {Threei} let's watcyh as they pull back, I'll try to alert
[13:54] {Threei} ACAS Discloses not in compliance with certain convenants of unsecured debt obligations - annual filing (4.17, -0.13, -3.02%)
[13:56] {Threei} "public accounting firm concluded in its report dated March 1, 2010 regarding those consolidated financial statements, that there is substantial doubt about our ability to continue as a going concern as a result of not being in compliance with certain covenants under our Unsecured Debt Obligations and receiving event of default notices from the holders of such obligations and being below the 200% asset coverage ratio under the 1940 Act, which impacts our ability to issue new debt. Our consolidated financial statements do not include any adjustments to reflect the possible future effects on the recovery and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. "
[13:57] {Threei} substantial doubt about our ability to continue as a going concern
[13:57] {Threei} why is it not couple bucks lower still?
[13:57] {Les} was gonna say. only 10%
[13:57] {Les} no blood yet
[13:58] {Threei} seriously... what do I miss?
[13:58] {Threei} just news hasn't disseminated widely enough yet?
[13:58] {Les} well I ain't gonna reply. I know you or jf will give me an ear full
[13:58] {Threei} we will even if you don't rweply
[13:59] {Threei} this looks like short to me
[13:59] {dino} here it goes
[13:59] {_jfjf64} ???
[13:59] {Threei} TM Reported informs US dealers about a possible oil hose leak on nearly 1M (73.23, -1.60, -2.14%)
[14:00] {Threei} oh boy... this will never end
[14:00] {Les} s ACAS .14. stop .21
[14:01] {Les} half out .05
[14:02] {Threei} should lose 4 now
[14:02] {Les} aaaaah yeh
[14:02] {dino} gj les
[14:02] {_jfjf64} piss off les
[14:02] {dino} acas, is that the one einhorn wrote about?
[14:02] {_jfjf64} lol
[14:03] {_jfjf64} gj
[14:03] {Les} :D
[14:04] {Threei} seriously strange one
[14:04] {dino} seriously, should have dropped to 2
[14:04] {Threei} exarly
[14:04] {Les} yes am surprised
[14:04] {Threei} this kind of news looks quite straightforward
[14:05] {_jfjf64} exarly
[14:05] {Threei} doesn't lewave much room for playing around
[14:05] {strider} It will drop.....I've watched it for years.
[14:05] {Threei} it's a "get out NOW" call
[14:05] {strider} Thanks for the heads up, by the way. I was long 1k in another account.
[14:05] {dino} s .00
[14:05] {Threei} always
[14:06] {_jfjf64} watch x
[14:07] {Les} you were long ACAS strider?
[14:07] {strider} yes.
[14:10] {Les} out -.03 SNDA. looking at it long if it continues to hold here
[14:12] {Les} out flat ACAS.
[14:12] {Les} 2nd half
[14:13] {nemo} brk.b breaking
[14:14] {dino} stopped acas
[14:15] {strider} According to my -shem--stock broker at WF, the statement by the acctng firm is one they pretty much have to doesn't mean the end of the world.
[14:16] {strider} ahem
[14:18] {Threei} NYT Carlos Slim denying interest in possible going private transaction - CNBC
[14:18] {Threei} - NYT: We do not comment on market rumors (11.42, +0.48, 4.39%)
[14:19] {Threei} substantial doubt about our ability to continue as a going concern as a result of not being in compliance with certain covenants under our Unsecured Debt Obligations
[14:19] {Threei} doesn't sound to me like anything "ordinary"
[14:20] {strider} No, it's not. But they've been in this situation for more than a year.
[14:20] {Threei} ok... so stock will drop only when doubt materializes, so there is no more doubt :)
[14:22] {strider} So., all of a sudden you're a believer in a rational market? :)
[14:22] {Threei} crao... I knew something was horribly wqrong with me today
[14:23] {dino} definitely not standard issue
[14:24] {strider} Well, at least you haven't been stung by a spelling bee.
[14:24] {dino} sm l swm .11
[14:24] {Threei} oh, those die in my proximity
[14:24] {Threei} 3 yards arund me is a death zone for them
[14:27] {dino} athn
[14:29] {Threei} Freescale Semiconductor requests ITC investigation into Integrated Circuits, Chipsets, and Products Containing Same Including Televisions, Media Players and Cameras
[14:31] {dino} athn sm l .80
[14:35] {_jfjf64} vad x .50 break ya lk
[14:38] {Threei} only if market jumps
[14:38] {Threei} don't wasnt to buy break into market retreat
[14:38] {nemo} dow and s&p volumes have dropped off
[14:38] {Threei} too big chance of a trap
[14:38] {nemo} especially because it climbed so much today already
[14:39] {_jfjf64} ty
[14:47] {Threei} (GR) Greece PM has reportedly requested a cabinet meeting for Wednesdy to discuss decisions regarding the economy
[14:49] {_jfjf64} watchin x
[14:51] {Threei} HUM Hearing weakness attributed to Medicare Payment Advisory Commision recommending Govt cut payments to private insurers (46.96, -0.37, -0.78%) (related CVH AET UNH CI HNT )
[14:51] {Threei} AET drop too
[14:52] {Threei} - offered non binding proposals for the Govt to cut payments to private insurers who offer coverage (Medicare advantage) to levels it pays when Medicare pays providers directly
[14:52] {_jfjf64} brk/b 5 minchart
[14:52] {dino} snda app lod
[14:53] {Threei} I'd see to short it jf
[14:53] {Threei} either .25 break
[14:53] {_jfjf64} ty
[14:53] {Threei} or closer to .50 if it goes there
[14:54] {nemo} 50 ma is at .26
[14:54] {Threei} .25 trigger will have .35 - .40 zone as a stop
[14:54] {Threei} broket it, became aggressive short ln fiorst weakness
[14:54] {Threei} if stays under day high
[14:54] {Threei} .40 loss is a trigger
[15:02] {Threei} no go
[15:02] {fernp} yeah
[15:02] {_jfjf64} .52 long .25 short
[15:02] {_jfjf64} no go
[15:03] {nemo} ha pretty good support at .30 too
[15:03] {Threei} Some US states considering the ban on credit checks for job seekers - USA Today (related FICO )
[15:07] {Threei} VXX
[15:07] {Threei} .75 long
[15:09] {Threei} no go
[15:09] {Threei} shrug
[15:09] {Threei} this is meanignless
[15:09] {Threei} morning trades, that's it
[15:10] {Threei} everything after that is grind
[15:10] {_jfjf64} done see all tommorrow
[15:10] {Les} ciao
[15:10] {fernp} bye jf
[15:10] {billyc} cya jf
[15:13] {dino} cya jf
[15:15] {nemo} tight range since 11
[15:15] {Threei} (EU) Germany and France outline proposals for increased monitoring of financial performance of Euro Zone member states - Der Spiegel
[15:15] {Threei} - The German and French Finance Ministries have developed a draft plan that would significantly strengthen financial policy cooperation in the EU. The plan calls for increased monitoring of individual member states' competitiveness so that action can be taken early on should problems emerge.
[15:15] {Threei} - States which have pegged their currencies to the euro -- like Denmark or the Baltic countries -- will likewise be monitored.
[15:15] {Threei} - The plan also calls for the European Commission to ensure that the euro group spends more time addressing the finances of its member states. In particular, the paper demands that euro group finance ministers "take more time for candid and serious discussions on the goal of a functioning currency union."
[15:16] {nemo} you up off the floor yet vad?
[15:17] {Threei} why
[15:17] {nemo} laughing too hard at the euro goons
[15:17] {Threei} we know they are trying to jawbone this
[15:17] {Threei} good luck to them
[15:18] {Threei} the longer they try to prop this construct the harsher consequences will be when it finally collapses
[15:19] {dino} i agree
[15:19] {dino} and i think the weak countries have the upper hand
[15:20] {Threei} yes, and if ou look at this last piece,
[15:20] {Threei} this is an attempt by stronger ones to build some control
[15:20] {nemo} so...Greece is too big to fail?
[15:20] {Threei} which again is not really workable solution
[15:20] {dino} which will not happen w/sovergn nations
[15:20] {Threei} nope
[15:21] {Threei} sooner or later the burden on strong ones will overcome all politics
[15:21] {Threei} and when they shrug this burned off Euro is done
[15:21] {nemo} fcx might be building right side of inverted H&S
[15:21] {Threei} burden
[15:21] {dino} when the tide goes out nemo, they are all naked
[15:22] {nemo} bad visual
[15:22] {dino} the countries w/highest greek exposure are the same countries that the germans and french have the highest exposure to, so domino theory
[15:23] {dino} it is bear sterns (if they act) or lehman (no action) all over again
[15:23] {dino} they will act imo
[15:23] {fernp} Good evening everybody. See you all tomorrow
[15:23] {nemo} fas hitting serious resistance
[15:24] {Threei} yes but result will be the same
[15:24] {Les} ciao fern
[15:24] {Threei} take care fern
[15:24] {dino} cya fern
[15:26] {dino} when i grow up....
[15:26] {dino} i'm going to make food that all kids will like
[15:27] {dino} darn snda wanted .15 went too fast
[15:30] {Threei} Market Internals update at 3:30pmET
[15:30] {Threei} - NYSE volume 710M shares, about 11% below its three-month average; advancers lead decliners by 4.4:1.
[15:30] {Threei} - NASDAQ volume 2.02B shares, about 15% above its three-month average; advancers lead decliners by 2.4:1.
[15:30] {Threei} - VIX index flat to just over 19.50
[15:36] {dino} snda sm l .13
[15:40] {dino} out snda .53, +.40
[15:40] {Threei} wtg
[15:40] {Les} nice
[15:40] {Les} obscene, but nice...
[15:40] {dino} thx
[15:42] {dino} wow .80s
[15:42] {nemo} stopped right at the 200 ma
[15:50] {Threei} this market's ability to stay in such narrow range for the most of the day is quite amazing
[15:51] {dino} every afternoon for months it seems
[15:51] {Threei} yes
[15:55] {dino} out pwrd +.09
[15:57] {Threei} okay guys, thank you all
[15:57] {Threei} have a good evening, see you tomorrow
[15:57] {billyc} see you guys tomorrow
[15:57] {Les} you too, thanks