Apr 09 2008
Session Time: Wed Apr 09 00:00:00 2008
[08:09] {Threei} FED IS CONSIDERING CONTINGENCY PLANS TO EXPAND LENDING POWER IF STEPS TO DATE UNSUCCESSFUL - FED OFFICIAL
[08:16] {Threei} (Thomson News) The subprime crisis and its "collective bankruptcy" is not over and the framework of whole financial system, of which the rules were either "not respected," or "not strict enough" is to blame, OECD secretary general Angel Gurria said in an interview.
[08:16] {Threei} "The whole institutional chain, so well oiled, all this sophistication, which was yesterday the pride of the authorities, is to blame for this collective bankruptcy," he told the newspaper in an interview.
[08:16] {Threei} Gurria said: "The billions of dollars in losses are hallucinating. And it is not finished!" He pointed his finger at "the banks, the investment funds, intermediaries, the credit rating agencies, the insurers."
[08:17] {Threei} On Tuesday the International Monetary Fund estimated that what it termed the collective failure surrounding the US subprime home-loan crisis would cost the international financial system $945 billion.
[08:33] {Threei} NKTR
[08:33] {Threei} TERMINATES ALL NEGOTIATIONS WITH POTENTIAL PARTNERS FOR INHALED INSULIN; INCREASED NUMBER OF LUNG CANCER CASES OBSERVED IN ONGOING CLINICAL STUDIES OF INHALED INSULIN PATIENTS-Ceased all negotiations with potential partners for its inhaled insulin programs as a result of new data analysis from ongoing clinical trials conducted by Pfizer Inc. An increase in the number of new cases of lung cancer was observed in inhaled insulin patients as compared to the control group.
[08:37] {magoo} morning
[08:37] {Threei} magoo :)
[08:41] {Onix} Good morning all
[08:43] {hawkfan4} good morning
[08:43] {Threei} onix, hawk :)
[08:51] {magoo} amag pouinded vad, news?
[08:52] {Threei} downgrade to sell by Merrill Lynch
[08:53] {GeoArb} gm all
[08:53] {Threei} geo :)
[08:54] {Threei} solars strength (again)
[08:54] {cosmo} AMAG has compitition fears..
[08:54] {Threei} NKTR getting gutted
[08:58] {magoo} UPS
[09:01] {Threei} better spelled as OOPS
[09:01] {Threei} 04/08/08 05:14pm [UPS] Cuts Q1 guidance to $0.86-0.87 (had seen $0.94-0.98) v $0.94e
[09:01] {cosmo} UPS drivers need to make more right turns, and less left turns...
[09:02] {Threei} IMF ISSUE REPORT ON GLOBAL GROWTH- US likely to enter mild recession in 2008
[09:06] {Threei} today is kind of defining day for the market
[09:06] {fernp} gm
[09:06] {Threei} fernp :)
[09:07] {patience} yesterday was second lowest volume day of the year...would be nice to have some momo
[09:07] {Threei} if we hold roughly 1840 NQ support and close in green on improving volume, another "against the common sense rally" is likelt to start
[09:08] {Threei} yes... that unusually low volume was what put me on alert re: downtrend continuation
[09:08] {Threei} along the line of thinking: we sell down too shallowly and on too lttle volume on what reads as worst news ever
[09:10] {Threei} critical range lies between 1840 and 1900
[09:11] {Threei} we hold 1840, approach to 1900 and break it with better volume - I really don't see anything to keep the market from going to 2000
[09:11] {Threei} pains me to say this... but that's what charts say
[09:12] {Threei} it's all conditional of course (as it always is in trading)
[09:12] {Threei} we lose 1840 and volume picks up - downside is big
[09:17] {Threei} REMINDER: FED CHAIRMAN BERNANKE TO SPEAK ON FINANCIAL LITERACY AT 9:30AMET- there will be a prepared text; no Q&A is expected.
[09:17] {Threei} financial literacy?
[09:17] {cosmo} no child left behind...
[09:17] {Threei} and no bank left without bailout?
[09:18] {cosmo} bailouts make the world go around..
[09:18] {dptl} good morning all
[09:19] {Threei} dp :)
[09:20] {esemde} god morning
[09:20] {cosmo} i'll say..
[09:20] {Threei} ese :)
[09:21] {esemde} just thought that I would change that up a little
[09:21] {Threei} that's serious upgrade
[09:21] {esemde} I'll rephrase....good morning everyone
[09:21] {patience} morning ese :)
[09:21] {esemde} patience
[09:22] {cosmo} ese....i think one word was derived from the other.... i think
[09:22] {esemde} indeed
[09:22] {Threei} they all are cosmo... with merely 4 letters replacement you go from milk to beer
[09:22] {cosmo} but which came first...
[09:23] {esemde} ok now that hurts the brain this early
[09:24] {Threei} I still have no candidates for the opening trades
[09:24] {cosmo} AMAG pre mkt high = 39
[09:24] {cosmo} fwiw
[09:24] {esemde} ESLR....
[09:26] {markweb} good morning all
[09:26] {magoo} thats cause u been goofing off boss
[09:29] {Threei} mark :)
[09:29] {magoo} cramer post NKTR worth zero..it is avai short to laserheads
[09:29] {ThurstonHowellTheThird} gm all
[09:29] {Threei} thtt :)
[09:29] {Chaeron} let's rock..... GM alll
[09:29] {Threei} chaeron :)
[09:31] {magoo} CHEAR.EARLY
[09:31] {Chaeron} nope magoo... just in time... pick one for us
[09:31] {Threei} FED'S BERNANKE: SUBPRIME MORTGAGE WOES SHOW CRITICAL IMPORTANCE OF FINANCIAL LITERACY, DOES NOT COMMENT ON MONETARY OR ECONOMIC OUTLOOK
[09:32] {bruce} nuan possible long break candidate vad
[09:32] {dino} gm all
[09:32] {bruce} 18.80 - needs to consolidate4 a bit imo
[09:32] {Chaeron} hi dino!
[09:32] {Threei} dino :)
[09:33] {Threei} ESLR formed .50 resistance to break so fsr
[09:33] {Threei} .51 worth a try
[09:34] {Threei} stop either .39 or .34, depending on your objective
[09:35] {esemde} am thinking about it...1/2 lot
[09:35] {Threei} COIN is happy
[09:38] {magoo} eslr trigged'
[09:38] {Chaeron} in ESLR .51
[09:38] {magoo} oy me too
[09:38] {esemde} long Eslr .54
[09:39] {esemde} missed original triger
[09:39] {esemde} was looking the other way
[09:39] {magoo} i hate ESLR
[09:40] {Threei} sharp downtick market
[09:40] {bruce} stopped eslr
[09:40] {Threei} I don't see any sudden news
[09:40] {dptl} stoped eslr
[09:40] {Chaeron} me too
[09:41] {bruce} next
[09:41] {magoo} me tyhree
[09:41] {magoo} garbage stock
[09:41] {Threei} you see NQ mahgoo?
[09:41] {bruce} fmcn downspike dino
[09:41] {magoo} always lose on it ALWAYS
[09:41] {GeoArb} lol
[09:41] {Threei} this garbage stock worked like charm yesterday, and would do the same today
[09:42] {GeoArb} got stopped out too
[09:42] {magoo} not for me
[09:42] {magoo} got me monday too
[09:42] {bruce} eslr bounce candiate here vad
[09:42] {dino} watching it bruce
[09:42] {Threei} if market bounces
[09:43] {Threei} 10 piints dump in minutes
[09:43] {bruce} har too dino 1 buck downspike
[09:43] {esemde} ya whats with the down tick....that was sudden...stopped Eslr
[09:45] {bruce} l eslr .23 stop at .17
[09:46] {esemde} well that was a lesson in stops.....and the reason for using them thats for sure.....
[09:46] {Threei} what's with SYNA
[09:46] {dino} spr s .04, stop .27
[09:47] {bruce} out eslr +4c
[09:48] {Chaeron} I see no news SYNA
[09:48] {Threei} DRIV half lot long
[09:48] {Threei} stop under .30
[09:50] {magoo} where u in driv?
[09:51] {dino} zz, gti
[09:51] {Threei} .48
[09:51] {magoo} rats, .56
[09:51] {GeoArb} .49
[09:51] {Threei} wow
[09:51] {Threei} why .56?
[09:51] {Threei} it was available
[09:52] {dino} spr stopped -.24
[09:52] {bruce} lol - siren call - always available vad if you willing to pay up
[09:52] {magoo} when i noticed call
[09:52] {GeoArb} put a sound alert on vad magoo
[09:52] {GeoArb} there is no way else i notice :)
[09:52] {bruce} same as mags - near .50 when pulled it up
[09:53] {Threei} I don't get it
[09:53] {Chaeron} I saw the call as soon as it was made, but was trying to figure where you got it from Vad - didn't want to chase... by the time I figured it out, it was up 4c
[09:54] {dino} spr rinsed reload break of .00
[09:54] {dino} gti s .50 stop hod +.01
[09:54] {Threei} how do I watch 4 screens, 14 scanner windows and see practically all your questions and comments, with rare exceptions... and you miss my comments posted in color
[09:54] {GeoArb} were learning boss
[09:55] {magoo} thats why we pay u lol
[09:55] {dino} indeed
[09:55] {GeoArb} and my eyes are close and hand full of muffin
[09:55] {Threei} I just don't want you to enter that far from original price...
[09:55] {Chaeron} you have 3 eyes, remember??????
[09:55] {GeoArb} lol
[09:55] {Threei} that's respectable reason geo, can't say anything against that
[09:55] {GeoArb} iused to... miss...
[09:56] {magoo} yeah..mr magoo can't even see to find glassesf
[09:56] {GeoArb} anyone wants to know how to ut sound alert o vad lemme know
[09:56] {GeoArb} put
[09:56] {esemde} anyone figure out what the dive in the NAZ was all about
[09:56] {GeoArb} was?
[09:56] {Threei} nothing in news
[09:56] {dino} wbsn
[09:59] {Threei} NKTR doesn't really go to zero
[10:00] {Threei} WHITE HOUSE EXPECTS EXPANSION OF FHA SECURE TO HELP ABOUT 500K HOMEOWNERS BY END OF YEAR - WIRE HEADLINE
[10:00] {Threei} FEB WHOLESALE INVENTORIES: 1.1% V 0.5%E
[10:00] {Threei} - prior revised to 1.3% from 1%
[10:01] {Threei} FED'S KROSZNER: MORE SHOULD BE DONE ON HOUSING CRISIS
[10:02] {Threei} - Says lenders may need to expand principal reductions as they can be effetive, new housing actions could bolster US economy
[10:03] {dino} fmcn going to hold lod bruce?
[10:04] {bruce} dunno dino - seeing lots of erratic spikes
[10:05] {bruce} thinking break of 35.6 wprth try in fmcn
[10:07] {bruce} hmm dino - ntrs may be close to bounce
[10:09] {dino} i was thinking death
[10:09] {dino} opps wrong stock
[10:10] {dino} wbsn topped around 20.12 last time lets see'
[10:12] {Threei} DRIV stop to .34
[10:12] {Threei} it held well, now want it to break .60 for us to trail stop a bit closer
[10:13] {magoo} it did hold well
[10:13] {magoo} whats potential u think? 36 area/
[10:13] {magoo} whats potential u think? 36 area?
[10:13] {Threei} just wish it would show more willingness to break next resistancw during NQ bounce
[10:14] {bruce} fmcn long candiate now dino
[10:14] {Threei} hard to put a finger on target but if it works it looks like more than scalp
[10:15] {Threei} JACO...
[10:16] {esemde} now I know that I have read to many books on the market but this little tidbit may come in handy
[10:17] {bruce} len consolidating at double bottom dino
[10:17] {esemde} if the NAZ forms a V bottom instead of a
[10:17] {esemde} head and shoulders botom
[10:17] {esemde} it's a powerful up signal
[10:18] {esemde} Vad have you ever found that too be true?
[10:18] {Threei} not really
[10:18] {Threei} bottoms come in all forms and shapes (and first who tries to assign any other meaning to it that market bottoms get trouted)
[10:18] {esemde} point well taken.....thats why i've signed on too your trading room...
[10:18] {Threei} look at NQ daily
[10:18] {Threei} we have:
[10:19] {Threei} 1.double bottom, formed by lows at 03/10 and 03/17
[10:19] {Threei} 2. inverted cup and handle failure if you add 01/23
[10:20] {Threei} 3. inverted head and shoulder in the making
[10:20] {dino} spr bstop to .80
[10:20] {Threei} and all these patterns sxay the same thing: bottom is in
[10:20] {Threei} and you know what?
[10:21] {esemde} what
[10:21] {Threei} all this will be next to zero in value if there is no follow through
[10:21] {magoo} yep..feels like it is
[10:21] {Threei} any pattern works until it doesn't
[10:21] {dino} cov .78, +.22, reverse slip
[10:21] {GeoArb} comeon vad
[10:22] {Threei} double bottom - is it reversal pattern or just a part of inverted cup and handle in progress?
[10:22] {esemde} gotcha...........
[10:22] {GeoArb} i came here for the superlicious pattern
[10:22] {Threei} same can be said about any of them,
[10:22] {Threei} they all are not predictors,
[10:22] {Threei} they instruct us how to act
[10:22] {Threei} but do not predict outcome.
[10:22] {Threei} so, we go with those patterns that we can read and are comfortable with,
[10:23] {GeoArb} RSH breakdown?
[10:23] {Threei} put stops in place
[10:23] {Threei} and wait for the market to resolve the trade.
[10:23] {dino} nice read ntrs bruce
[10:23] {bruce} soiunds like a dairy queen specialty geo
[10:23] {Threei} This is the essence of trader's thinking
[10:23] {Threei} OK DRIV
[10:23] {GeoArb} heheh... i am in RSH btw
[10:24] {bruce} thanx dino - missed my entry
[10:24] {esemde} I have given just about all my trading books away.....
[10:24] {Threei} stop can be trailed to .39 or .45
[10:24] {esemde} only a 12 or so left......
[10:24] {Threei} and we have about 1:2
[10:24] {esemde} maybe thats still too many
[10:25] {magoo} out .70 TY vad dRIV
[10:25] {esemde} nice comeback by ESLR...
[10:25] {bruce} len dino - long candiate on .70break
[10:26] {judijim} jj ready, read previous comments this info/reminders thanks
[10:26] {Threei} jj :)
[10:26] {dino} wbsn s .08, stop hod
[10:27] {esemde} jj
[10:27] {Threei} ENTERS NEW EMPLOYMENT CONTRACT WITH JIM CRAMER
- Mr. Cramer will author articles for the company's advertising supported and paid publications including Action Alerts PLUS product.
[10:27] {Threei} - Will receive, among other things, an annual salary of $1.30M, $1.56M and $1.87M, respectively, for the three successive years agreement.
[10:27] {Threei} - Will receive a signing bonus in the amount of $100K and will be eligible for an annualized target bonus equal to 75% of salary based upon achievement of financial targets as determined b
[10:27] {Threei} TSCM
[10:27] {Threei} I am in a wrong business
[10:28] {GeoArb} vad dcc pls
[10:29] {dino} entertainment is the way
[10:29] {esemde} dunno about that dino
[10:29] {esemde} i've been in the entertainment business
[10:30] {esemde} for along time
[10:30] {esemde} am not workth millions
[10:30] {esemde} it's probably cost me to be in it
[10:31] {GeoArb} rsh finally
[10:31] {magoo} bad entry..but a pretty good exit DRIV
[10:32] {dino} tv then
[10:34] {dino} ptry blood
[10:34] {hawkfan4} solars holding strong through the selling so far
[10:37] {Threei} DOE CRUDE: -3.1M V +2.3ME; GASOLINE: -3.4M V -2.8ME; DISTILLATES: -3.69M V -1.5ME; UTILIZATION: 83% V 83%E
API:
[10:38] {Threei} anyone thinks tracking oil inventories on weekly basis is pretty much meaningless?
[10:38] {hawkfan4} {==raises his hand
[10:38] {Threei} last week crude inventory was up, this week down
[10:39] {Threei} what does it reflect but normal business volatility
[10:39] {GeoArb} hey ! it affects my beetle
[10:40] {Threei} nice RSH
[10:40] {GeoArb} Ty
[10:41] {GeoArb} paid 30 cents so far
[10:41] {GeoArb} my forst 500 lot (blushing)
[10:42] {bruce} ptry - wheres our ounce try dino - I can't read these bigspikes
[10:43] {dino} .10
[10:43] {magoo} stalking aapl and rimm..not in
[10:43] {magoo} any read vad?
[10:43] {dino} ok
[10:43] {bruce} lol
[10:44] {bruce} cool
[10:44] {dino} in sm .10
[10:44] {bruce} bidding 10 c
[10:44] {Threei} great job Geo
[10:44] {bruce} ah - mean mean 16.10
[10:45] {Threei} mags.. I want to papertrade next setup on RIMM first, to see if it restored its connection with NASDAQ
[10:45] {Threei} so far doesn't seem to be the case
[10:46] {magoo} ok
[10:46] {dino} stop .60
[10:46] {dino} out .62 +.52
[10:47] {dino} have to talk to "chuck", upslips on stops
[10:50] {bruce} len break of .60 with 9 c stop
[10:51] {dino} ntrs l .25 stop .96
[10:51] {bruce} nidce one dino
[10:52] {dino} ty, damn stop was way too tight
[10:53] {bruce} ntrs?
[10:55] {dino} in above
[10:56] {bruce} k
[10:56] {bruce} I like ntrs on a .30 brak fwiw
[10:58] {dino} gti stopped -.20
[10:58] {magoo} i hate to say it............................
[10:59] {bruce} fmcn long vcandiate on 36 break dino - stop would have to be .78 or so
[10:59] {magoo} eslr held pretty well
[10:59] {Threei} lol mags
[11:00] {Threei} I can't even begin to imagine how much it pains you to say that
[11:00] {Threei} FORMER FED CHIEF VOLCKER: FINANCIAL CRISES USUALLY DON'T HAPPEN WITHOUT UNDERLYING ECONOMIC PROBLEMS
[11:00] {Threei} no?
[11:00] {Chaeron} oh well, then that explains everything
[11:00] {bruce} apol spike dino
[11:01] {Threei} with all due respect to Volcker... I'd have to disagree
[11:01] {dino} ptry l .20, stop ..88
[11:03] {Threei} overextend credit without proper valuation of collateral, flood the market with derivatives securitizing that dubious credit, overleverage trading in those dubious securities - and you have financial crisis in the making no matter how well underlyiong economy is doing
[11:03] {magoo} aapl wants 153 RISKY..needs mkt
[11:06] {esemde} Volcker is nuts....he's got it backwards......
[11:07] {dino} rekclov?
[11:07] {Threei} oh, forgot to add... throw newly printed money into all this every time liquidity becomes an issue
[11:07] {Threei} and you have not just crisis but borderline catastrophe
[11:08] {esemde} stoke the inflation fires.......
[11:08] {esemde} and then they do something to quell inflation...weird...it's like a make work project to create a job for themselves
[11:10] {Threei} - Says US can not inflate its way out of current economic problems, warns against complacency on inflation
[11:10] {esemde} although....if i had that money printing machine......now that would be a different story
[11:11] {dino} salvation thru inflation
[11:11] {esemde} I'd inflate myself into millionaire status
[11:11] {Threei} you would me residing at your porch for weeks until you let me in
[11:11] {Threei} and I wouldn't stop at millionare :)
[11:12] {esemde} yes your right....Gordon Gecko said it right..."Greed Is Good"
[11:12] {Threei} COIN again
[11:12] {Threei} very adrenalin-packed trade
[11:12] {Threei} ugh... late
[11:13] {Threei} let's not chase it, it's beyond dangerous even with proper entry
[11:24] {dino} ptry stopped .94 -.26
[11:33] {dino} spr s .00
[11:36] {dino} fmcn
[11:40] {dino} fctr
[11:41] {dino} thin
[11:48] {dino} spr stopped -.03
[11:54] {GeoArb} out RSH 15.47 +0.55
[11:54] {Threei} wtg
[11:55] {dino} nice goe
[11:56] {judijim} good job geo
[11:57] {dino} cov wbsn .78, +.30
[11:58] {judijim} like magoo we like scalping aapl and rimm, since Jim was a former "indy"like car racer he still wants the fast rush
[11:58] {bruce} coc long break 9.15 any read vad?
[11:58] {bruce} coco
[11:59] {magoo} mkt can't get a reprieve
[11:59] {dino} ntrs last try l .25
[12:01] {dino} slow bleed
[12:01] {dino} ptry?
[12:02] {bruce} you thinking short ptry?
[12:03] {judijim} taking break, be back in hour:)
[12:03] {dino} no l
[12:03] {dino} double bottom or fall down
[12:04] {bruce} yes - would prefer to see some kind of double bottom before trying anything long
[12:10] {bruce} trying ntrs long here
[12:11] {bruce} l ntrs .32 stop at .19
[12:12] {GeoArb} off to work.... good ady.. trade well !
[12:12] {GeoArb} day
[12:13] {Threei} take care Geo
[12:22] {Threei} market starts feeling baaad
[12:24] {bruce} stopped ntrs
[12:25] {dino} at .07
[12:26] {bruce} l ptry 16.47 - stop .32
[12:28] {magoo} ESLR bounce play vad?
[12:29] {Threei} chart shows no signs of it
[12:29] {Threei} if PPT decides it's time for intervention, everything will chnage
[12:29] {Threei} but let's see it happening first
[12:30] {dino} we're only down 62
[12:30] {dino} icge
[12:30] {dino} nah
[12:31] {Threei} size of drop is not impressive, tru
[12:31] {Threei} but we are under important support
[12:31] {Threei} if we do not get back over it, it could signal beginning of unraveling
[12:32] {Threei} this is the reason for my lessened activity
[12:32] {Threei} I don't want to take longs facing possible sharp selloff,
[12:33] {Threei} and sharts as a continuation haven't really worked lately as interventions propped market right back up
[12:33] {Threei} sharts = shorts
[12:34] {dino} sharts, you know what they are?
[12:34] {magoo} silent farts??
[12:34] {dino} jack black in that something about polley movie
[12:34] {Threei} did I wake up a monster? :)
[12:34] {dino} sh#t farts
[12:34] {Threei} yes I did
[12:35] {dino} lol
[12:35] {magoo} last time i did that was the BIDU IPO
[12:36] {bruce} sropped ptry - lloks like it may bouncee here dino
[12:38] {dino} you know what i think, i think it goes to 15.40s first
[12:38] {magoo} made 11k but ruined my underware
[12:38] {dino} yeah, and his underwear is like the gals' in shallow hal
[12:40] {Threei} sigh
[12:40] {Threei} why do I keep getting all this info
[12:40] {Chaeron} more transcript editing required, Vad?
[12:43] {Threei} oh boy
[12:43] {Threei} I hate to do it... I may just skip posting it altogether, lol
[12:44] {magoo} they were the colored hanes briefs
[12:44] {dino} you need to rent that movie
[12:47] {Threei} market really froze
[12:47] {Threei} no way to tell what happens next
[12:48] {Threei} but there is always one thing to do that makes us feel better
[12:48] {Threei} and that is....
[12:48] * Threei slaps Laserdave1 around a bit with a large trout
[12:50] * Chaeron slaps Laserdave1 around a bit with a large trout
[12:50] * magoo slaps Laserdave1 around a bit with a large trout
[12:51] {Laserdave1} thanks guys
[12:51] {Laserdave1} i love you to
[12:51] {Threei} CRUDE OIL FUTURES HIT NEW RECORD HIGH- rises above the prior peak set March 17 at $111.80
[12:51] {Laserdave1} crude crude
[12:51] {Laserdave1} do we hear $150 anyone?
[12:52] {esemde} Outta here...take care everyone
[12:52] {Chaeron} bye ese
[12:54] {dino} ceph
[12:57] {dino} ntrs stopped -.13
[12:57] {dino} -.18
[12:59] {dino} ceph s .01
[12:59] {dino} risky
[13:02] {Threei} FED PLANS TO LEND $50B IN TLSF OPERATION ON 4/10
[13:10] {bruce} sndk break of 27 - any read vad?
[13:11] {Threei} worth a try
[13:11] {Threei} stop is a bit too far
[13:11] {Threei} so cut down the size
[13:12] {Threei} also, DRIV deserves try for bounce
[13:12] {Threei} stop would be under .70
[13:12] {bruce} yes 20 c stop - would prefer smaller on it
[13:12] {Threei} yes
[13:14] {dino} bstop to .73 ceph
[13:14] {magoo} where u get DRIV this time?
[13:14] {dino} stopped +.28
[13:14] {Threei} still looking
[13:16] {Threei} if it doesn't go under .80 anymore, just buy first uptick
[13:16] {Threei} .84 - .85
[13:16] {Threei} if loses it, will re-evaluate
[13:16] {Threei} SNDK almost 1:1
[13:17] {Chaeron} in DRIV .85
[13:18] {magoo} vad driv..full lot?
[13:19] {magoo} dammit..missed
[13:19] {dptl} out driv +.12ty
[13:20] {Threei} lol... dp manages to extract profit while magoo debates size... that's not you mags, you are faster than that
[13:22] {Threei} bruce, you booked SNDK yet?
[13:24] {bruce} yes - out w.20 vad
[13:24] {bruce} was nervous abpouttaking it
[13:24] {Threei} :)
[13:25] {Threei} what could make one nervous about making money
[13:25] {Threei} I need to ponder this... kind of novelty concept for me :)
[13:25] {bruce} doesn't move all that much - prefer smaller stop in stock like that
[13:26] {Threei} oh, you mean about entering
[13:26] {Threei} I thought "taking" as in taking profit
[13:26] {bruce} heck - love boking profits
[13:26] {Threei} OK{ my world is whole again :)
[13:27] {dptl} low volume today again
[13:28] {Threei} a bit better than yesterday though
[13:29] {dptl} well not in qqqq
[13:30] {Threei} in QQQQ too... 86,434 for the whole day yesrday,
[13:31] {Threei} 73,149 today, and we have 2 and half hours to go
[13:31] {Threei} DRIV 1:1
[13:32] {magoo} higher volume down day not bode well for rally theory
[13:32] {Threei} no, unless we manage to get back to yesterday's close
[13:33] {dptl} got to leave early.......have a good rest of the day all see ya tomorrow:)
[13:33] {Threei} take care dp
[13:33] {magoo} bye pd
[13:34] {Chaeron} dptl - booking profits and leaving before close? Is that allowed?
[13:34] {Threei} not really
[13:34] {magoo} really showing me up :)
[13:34] {Threei} one must give it all back before eod
[13:34] {Chaeron} oh ok........
[13:35] {Threei} it's daytrading, rfemember? we must be net neutral
[13:35] {Threei} flat at the end of the day in all senses of the word
[13:35] {Chaeron} wishing my tummy was flat.......
[13:36] {Threei} mine is flat... I just wish it was closer to my spine
[13:36] {Chaeron} lol
[13:44] {bruce} wow - quite a drop in ceph dino
[13:45] {Threei} chaeron, booked DRIV yet or trying for more?
[13:45] {judijim} did aapl scalp hit 152 +.17
[13:46] {Chaeron} holding for more as market tries a bit for less of a down day...
[13:46] {Threei} nice little C&H on 1 min, jj
[13:46] {Threei} a bit for less of a down
[13:46] {Threei} I will have to ask your permission to borrow that chaeron
[13:47] {Chaeron} anytime
[13:48] {Threei} a tad of less of a large chunck of little gain amidst bigger drop within small retreat
[13:49] {bruce} ntrs looking long here
[13:53] {magoo} u been on with ntrs?
[13:56] {bruce} stopped twice in it mags
[13:57] {Threei} FDIC'S BAIR SAYS PROPOSAL WOULD PROVIDE LIQUIDITY IN MORTGAGE LENDING
[13:58] {magoo} ok bruce..ty
[13:59] {Threei} ESLR looks wort a try
[13:59] {patience} vad, please, please can i have some momo and a bit of europhoria or heavy capitulation
[13:59] {Threei} stop under 11
[13:59] {Threei} coming right up patience
[13:59] {patience} great, this month's winnings are a little low
[14:00] {magoo} ok, where u in ESLR..i got .11
[14:00] {judijim} bruce, ntrs made a nice l play, we missed but still did what you thought
[14:00] {judijim} gj bruce
[14:01] {Threei} same mags
[14:01] {magoo} ok :)
[14:01] {magoo} thought i was late
[14:01] {Threei} no, you redeemed yourself in a role of lightningly fact cobra
[14:01] {dino} ptry l .55
[14:01] {Threei} fast
[14:01] {magoo} aaaaaaahhhhhhhhhhhh
[14:02] {dino} partial
[14:03] {dino} dwsn l sm .21
[14:06] {bruce} k judi - thanx - still working on reading these reversals - haveway to go
[14:12] {bruce} spike on mtl dino - a bit pricey for my tatstes though
[14:13] {dino} hmmm
[14:14] {dino} missed it
[14:15] {Threei} if NQ loses 1825, no longs
[14:16] {dino} v sm s .50
[14:27] {Threei} volume almost caught up with yesterday's, and still good chunk of time to go
[14:27] {Threei} not good for the market
[14:38] {dino} cov mtl 142.30, +1.20 sm, ty bruce
[14:38] {bruce} nice one dino
[14:40] {dino} sm l amag .93
[14:40] {dino} stop lod
[14:43] {Threei} FED'S FISHER: HE IS 'NOT AGAINST' CUTTING RATES, PREFERS WORKING ON LIQUIDITY MEASURES, CUTTING RATES RISKS INFLATION - Q&A COMMENTS
- Notes demand for energy, food, ethanol pushing up prices, inflationary impulses are different today
[14:43] {Threei} - Says Fed rate cuts not having intended effect, and fears inflation will rise as economy rebounds, efficiency of rate cuts is questionable
[14:43] {Threei} - Notes money supply measures 'pretty stout' recently
[14:43] {Threei} - Adds that weak period in the economy may be longer than expected
[14:43] {Threei} - Expects c
[14:44] {Threei} - Expects changes in Fed oversight of institutions that borrow from it; Notes that if the Fed is lending money to an institution, Fed needs to have information about that firm
[14:44] {Threei} novelty concept eh?
[14:55] {Threei} ESLR failed
[14:56] {Chaeron} yeah... was stopped out for .03... oh well
[14:59] {dino} us too
[15:01] {judijim} calling it a day, great day, good scalps with good stops too, +1.30:) Be back Thursday for short day
[15:01] {dino} gj
[15:01] {Chaeron} short day??? geeesh, I wish I had those hours :)
[15:05] {Threei} wtg jj
[15:08] {Threei} GOOG spike
[15:08] {dino} fmcn
[15:09] {Threei} IN TALKS TO CARRY SEARCH ADS FROM GOOGLE - WSJ- Yahoo talks with Google will involve short-term test{GOOG}
[15:10] {Threei} RIMM long with stop under .50
[15:11] {Threei} in
[15:12] {magoo} where?
[15:12] {Threei} .62
[15:14] {Chaeron} dang - missed... great job 3i
[15:14] {Threei} out half
[15:15] {Threei} +.32
[15:16] {Threei} stop is negligibly small, going to get greedy on this one
[15:17] {magoo} OY..me too
[15:17] {Threei} protected half mags?
[15:18] {magoo} yep 1178
[15:18] {magoo} sigh 118
[15:19] {Threei} good exit
[15:23] {ThurstonHowellTheThird} dino/bruce: CERN reversal?
[15:25] {ThurstonHowellTheThird} Xnay
[15:25] {Threei} go RIMM, my boy, redeem your lukewarm performance of late
[15:26] {magoo} tough right hrere
[15:27] {Threei} we have 60 cents here
[15:27] {Chaeron} well magoo, see what happens when I miss RIMM?
[15:27] {Threei} we need to pay him to stay away from it, mags
[15:28] {Chaeron} a %age?
[15:28] {Threei} that's how I understand what he is hinting at
[15:28] {Chaeron} I really wasn't
[15:28] {Threei} yeah yeah
[15:28] {Chaeron} just double up on the ones I miss
[15:28] {Threei} and send you half
[15:28] {Chaeron} you keep insisting....
[15:28] {magoo} or vad, dcc me..make call and we go opposite him
[15:28] {Threei} hehe
[15:29] {Chaeron} want to see two guys sell RIMM at market faster than the speed of light?
[15:29] {Threei} move you lazy berry
[15:29] {Threei} lol chaeron
[15:29] {Threei} good one
[15:29] * Chaeron long RIMM @ .12...... teasing
[15:30] {Threei} what do you know, he did it
[15:30] {Threei} what power
[15:31] {Chaeron} yeah but did you flip and short?
[15:32] {Threei} no
[15:32] {magoo} do NOT play with such power
[15:32] {Threei} I decide to see if I can overcome your curse
[15:32] {magoo} like ron reagon joking to nuke soviet union
[15:32] {Chaeron} lol
[15:33] {dino} grrrr missed the fmcn bruce
[15:36] {Threei} well Chaeron... you are strong... I am stronger :)
[15:36] {Threei} out almost all +.90
[15:36] {magoo} power of combined greed vad
[15:36] {Threei} got just 100 left
[15:36] {Chaeron} nice job Threei
[15:37] {Chaeron} sad I missed
[15:37] {Threei} yeah, that eas rare chance to play this stock with such tight stop at such favorable moment
[15:37] {Threei} GOOG/YHOO gave some enthusiasm to the market sitting at the low
[15:38] {Threei} and RIMM mercifully waited for us to enter
[15:38] {Threei} instead of just spiking right away with those
[15:38] {magoo} out some more .43
[15:39] {Threei} you may remember yesterday's play on RIMM, for a nice gain as well
[15:40] {Threei} but honestly, that one was more of luck
[15:40] {Threei} RIMM wasn't obeying yesterday to the degree that would allow me to take credit
[15:40] {Threei} this one is deserved profit
[15:40] {Threei} ideal conditions for entry
[15:42] {magoo} aall that paper trading
[15:42] {Threei} was worth it eh?
[15:43] {Threei} to take a buck or not
[15:44] {magoo} out .62 rest
[15:44] {magoo} TY
[15:44] {Threei} welcome sir
[15:44] {magoo} u got 100 left?
[15:44] {Threei} yeah
[15:45] {magoo} where a reload ?
[15:45] {magoo} .33?
[15:45] {Threei} mostly because I am not likely to take any more trades today
[15:45] {Threei} gotta entertain myself for 15 more minutes
[15:45] {Threei} I've no idea mgs
[15:45] {Threei} why do you need it really
[15:47] {magoo} greed
[15:48] {Threei} well
[15:48] {Chaeron} and to pay my %age
[15:48] {Threei} look at it this way
[15:48] {Threei} you got a dollar gain with about 15 cents risk
[15:48] {Threei} very volatile stock on a very tough day
[15:48] {Threei} is there any necessity to go to the well once too many?
[15:55] {Threei} ok... out last portion
[15:55] {Threei} enough is enough
[15:55] {Threei} thank you all
[15:55] {Threei} have a good evening, see you tomorrow
[15:58] {dino} ptry stopped sm -.30
[16:01] {magoo} ty vad
[08:09] {Threei} FED IS CONSIDERING CONTINGENCY PLANS TO EXPAND LENDING POWER IF STEPS TO DATE UNSUCCESSFUL - FED OFFICIAL
[08:16] {Threei} (Thomson News) The subprime crisis and its "collective bankruptcy" is not over and the framework of whole financial system, of which the rules were either "not respected," or "not strict enough" is to blame, OECD secretary general Angel Gurria said in an interview.
[08:16] {Threei} "The whole institutional chain, so well oiled, all this sophistication, which was yesterday the pride of the authorities, is to blame for this collective bankruptcy," he told the newspaper in an interview.
[08:16] {Threei} Gurria said: "The billions of dollars in losses are hallucinating. And it is not finished!" He pointed his finger at "the banks, the investment funds, intermediaries, the credit rating agencies, the insurers."
[08:17] {Threei} On Tuesday the International Monetary Fund estimated that what it termed the collective failure surrounding the US subprime home-loan crisis would cost the international financial system $945 billion.
[08:33] {Threei} NKTR
[08:33] {Threei} TERMINATES ALL NEGOTIATIONS WITH POTENTIAL PARTNERS FOR INHALED INSULIN; INCREASED NUMBER OF LUNG CANCER CASES OBSERVED IN ONGOING CLINICAL STUDIES OF INHALED INSULIN PATIENTS-Ceased all negotiations with potential partners for its inhaled insulin programs as a result of new data analysis from ongoing clinical trials conducted by Pfizer Inc. An increase in the number of new cases of lung cancer was observed in inhaled insulin patients as compared to the control group.
[08:37] {magoo} morning
[08:37] {Threei} magoo :)
[08:41] {Onix} Good morning all
[08:43] {hawkfan4} good morning
[08:43] {Threei} onix, hawk :)
[08:51] {magoo} amag pouinded vad, news?
[08:52] {Threei} downgrade to sell by Merrill Lynch
[08:53] {GeoArb} gm all
[08:53] {Threei} geo :)
[08:54] {Threei} solars strength (again)
[08:54] {cosmo} AMAG has compitition fears..
[08:54] {Threei} NKTR getting gutted
[08:58] {magoo} UPS
[09:01] {Threei} better spelled as OOPS
[09:01] {Threei} 04/08/08 05:14pm [UPS] Cuts Q1 guidance to $0.86-0.87 (had seen $0.94-0.98) v $0.94e
[09:01] {cosmo} UPS drivers need to make more right turns, and less left turns...
[09:02] {Threei} IMF ISSUE REPORT ON GLOBAL GROWTH- US likely to enter mild recession in 2008
[09:06] {Threei} today is kind of defining day for the market
[09:06] {fernp} gm
[09:06] {Threei} fernp :)
[09:07] {patience} yesterday was second lowest volume day of the year...would be nice to have some momo
[09:07] {Threei} if we hold roughly 1840 NQ support and close in green on improving volume, another "against the common sense rally" is likelt to start
[09:08] {Threei} yes... that unusually low volume was what put me on alert re: downtrend continuation
[09:08] {Threei} along the line of thinking: we sell down too shallowly and on too lttle volume on what reads as worst news ever
[09:10] {Threei} critical range lies between 1840 and 1900
[09:11] {Threei} we hold 1840, approach to 1900 and break it with better volume - I really don't see anything to keep the market from going to 2000
[09:11] {Threei} pains me to say this... but that's what charts say
[09:12] {Threei} it's all conditional of course (as it always is in trading)
[09:12] {Threei} we lose 1840 and volume picks up - downside is big
[09:17] {Threei} REMINDER: FED CHAIRMAN BERNANKE TO SPEAK ON FINANCIAL LITERACY AT 9:30AMET- there will be a prepared text; no Q&A is expected.
[09:17] {Threei} financial literacy?
[09:17] {cosmo} no child left behind...
[09:17] {Threei} and no bank left without bailout?
[09:18] {cosmo} bailouts make the world go around..
[09:18] {dptl} good morning all
[09:19] {Threei} dp :)
[09:20] {esemde} god morning
[09:20] {cosmo} i'll say..
[09:20] {Threei} ese :)
[09:21] {esemde} just thought that I would change that up a little
[09:21] {Threei} that's serious upgrade
[09:21] {esemde} I'll rephrase....good morning everyone
[09:21] {patience} morning ese :)
[09:21] {esemde} patience
[09:22] {cosmo} ese....i think one word was derived from the other.... i think
[09:22] {esemde} indeed
[09:22] {Threei} they all are cosmo... with merely 4 letters replacement you go from milk to beer
[09:22] {cosmo} but which came first...
[09:23] {esemde} ok now that hurts the brain this early
[09:24] {Threei} I still have no candidates for the opening trades
[09:24] {cosmo} AMAG pre mkt high = 39
[09:24] {cosmo} fwiw
[09:24] {esemde} ESLR....
[09:26] {markweb} good morning all
[09:26] {magoo} thats cause u been goofing off boss
[09:29] {Threei} mark :)
[09:29] {magoo} cramer post NKTR worth zero..it is avai short to laserheads
[09:29] {ThurstonHowellTheThird} gm all
[09:29] {Threei} thtt :)
[09:29] {Chaeron} let's rock..... GM alll
[09:29] {Threei} chaeron :)
[09:31] {magoo} CHEAR.EARLY
[09:31] {Chaeron} nope magoo... just in time... pick one for us
[09:31] {Threei} FED'S BERNANKE: SUBPRIME MORTGAGE WOES SHOW CRITICAL IMPORTANCE OF FINANCIAL LITERACY, DOES NOT COMMENT ON MONETARY OR ECONOMIC OUTLOOK
[09:32] {bruce} nuan possible long break candidate vad
[09:32] {dino} gm all
[09:32] {bruce} 18.80 - needs to consolidate4 a bit imo
[09:32] {Chaeron} hi dino!
[09:32] {Threei} dino :)
[09:33] {Threei} ESLR formed .50 resistance to break so fsr
[09:33] {Threei} .51 worth a try
[09:34] {Threei} stop either .39 or .34, depending on your objective
[09:35] {esemde} am thinking about it...1/2 lot
[09:35] {Threei} COIN is happy
[09:38] {magoo} eslr trigged'
[09:38] {Chaeron} in ESLR .51
[09:38] {magoo} oy me too
[09:38] {esemde} long Eslr .54
[09:39] {esemde} missed original triger
[09:39] {esemde} was looking the other way
[09:39] {magoo} i hate ESLR
[09:40] {Threei} sharp downtick market
[09:40] {bruce} stopped eslr
[09:40] {Threei} I don't see any sudden news
[09:40] {dptl} stoped eslr
[09:40] {Chaeron} me too
[09:41] {bruce} next
[09:41] {magoo} me tyhree
[09:41] {magoo} garbage stock
[09:41] {Threei} you see NQ mahgoo?
[09:41] {bruce} fmcn downspike dino
[09:41] {magoo} always lose on it ALWAYS
[09:41] {GeoArb} lol
[09:41] {Threei} this garbage stock worked like charm yesterday, and would do the same today
[09:42] {GeoArb} got stopped out too
[09:42] {magoo} not for me
[09:42] {magoo} got me monday too
[09:42] {bruce} eslr bounce candiate here vad
[09:42] {dino} watching it bruce
[09:42] {Threei} if market bounces
[09:43] {Threei} 10 piints dump in minutes
[09:43] {bruce} har too dino 1 buck downspike
[09:43] {esemde} ya whats with the down tick....that was sudden...stopped Eslr
[09:45] {bruce} l eslr .23 stop at .17
[09:46] {esemde} well that was a lesson in stops.....and the reason for using them thats for sure.....
[09:46] {Threei} what's with SYNA
[09:46] {dino} spr s .04, stop .27
[09:47] {bruce} out eslr +4c
[09:48] {Chaeron} I see no news SYNA
[09:48] {Threei} DRIV half lot long
[09:48] {Threei} stop under .30
[09:50] {magoo} where u in driv?
[09:51] {dino} zz, gti
[09:51] {Threei} .48
[09:51] {magoo} rats, .56
[09:51] {GeoArb} .49
[09:51] {Threei} wow
[09:51] {Threei} why .56?
[09:51] {Threei} it was available
[09:52] {dino} spr stopped -.24
[09:52] {bruce} lol - siren call - always available vad if you willing to pay up
[09:52] {magoo} when i noticed call
[09:52] {GeoArb} put a sound alert on vad magoo
[09:52] {GeoArb} there is no way else i notice :)
[09:52] {bruce} same as mags - near .50 when pulled it up
[09:53] {Threei} I don't get it
[09:53] {Chaeron} I saw the call as soon as it was made, but was trying to figure where you got it from Vad - didn't want to chase... by the time I figured it out, it was up 4c
[09:54] {dino} spr rinsed reload break of .00
[09:54] {dino} gti s .50 stop hod +.01
[09:54] {Threei} how do I watch 4 screens, 14 scanner windows and see practically all your questions and comments, with rare exceptions... and you miss my comments posted in color
[09:54] {GeoArb} were learning boss
[09:55] {magoo} thats why we pay u lol
[09:55] {dino} indeed
[09:55] {GeoArb} and my eyes are close and hand full of muffin
[09:55] {Threei} I just don't want you to enter that far from original price...
[09:55] {Chaeron} you have 3 eyes, remember??????
[09:55] {GeoArb} lol
[09:55] {Threei} that's respectable reason geo, can't say anything against that
[09:55] {GeoArb} iused to... miss...
[09:56] {magoo} yeah..mr magoo can't even see to find glassesf
[09:56] {GeoArb} anyone wants to know how to ut sound alert o vad lemme know
[09:56] {GeoArb} put
[09:56] {esemde} anyone figure out what the dive in the NAZ was all about
[09:56] {GeoArb} was?
[09:56] {Threei} nothing in news
[09:56] {dino} wbsn
[09:59] {Threei} NKTR doesn't really go to zero
[10:00] {Threei} WHITE HOUSE EXPECTS EXPANSION OF FHA SECURE TO HELP ABOUT 500K HOMEOWNERS BY END OF YEAR - WIRE HEADLINE
[10:00] {Threei} FEB WHOLESALE INVENTORIES: 1.1% V 0.5%E
[10:00] {Threei} - prior revised to 1.3% from 1%
[10:01] {Threei} FED'S KROSZNER: MORE SHOULD BE DONE ON HOUSING CRISIS
[10:02] {Threei} - Says lenders may need to expand principal reductions as they can be effetive, new housing actions could bolster US economy
[10:03] {dino} fmcn going to hold lod bruce?
[10:04] {bruce} dunno dino - seeing lots of erratic spikes
[10:05] {bruce} thinking break of 35.6 wprth try in fmcn
[10:07] {bruce} hmm dino - ntrs may be close to bounce
[10:09] {dino} i was thinking death
[10:09] {dino} opps wrong stock
[10:10] {dino} wbsn topped around 20.12 last time lets see'
[10:12] {Threei} DRIV stop to .34
[10:12] {Threei} it held well, now want it to break .60 for us to trail stop a bit closer
[10:13] {magoo} it did hold well
[10:13] {magoo} whats potential u think? 36 area/
[10:13] {magoo} whats potential u think? 36 area?
[10:13] {Threei} just wish it would show more willingness to break next resistancw during NQ bounce
[10:14] {bruce} fmcn long candiate now dino
[10:14] {Threei} hard to put a finger on target but if it works it looks like more than scalp
[10:15] {Threei} JACO...
[10:16] {esemde} now I know that I have read to many books on the market but this little tidbit may come in handy
[10:17] {bruce} len consolidating at double bottom dino
[10:17] {esemde} if the NAZ forms a V bottom instead of a
[10:17] {esemde} head and shoulders botom
[10:17] {esemde} it's a powerful up signal
[10:18] {esemde} Vad have you ever found that too be true?
[10:18] {Threei} not really
[10:18] {Threei} bottoms come in all forms and shapes (and first who tries to assign any other meaning to it that market bottoms get trouted)
[10:18] {esemde} point well taken.....thats why i've signed on too your trading room...
[10:18] {Threei} look at NQ daily
[10:18] {Threei} we have:
[10:19] {Threei} 1.double bottom, formed by lows at 03/10 and 03/17
[10:19] {Threei} 2. inverted cup and handle failure if you add 01/23
[10:20] {Threei} 3. inverted head and shoulder in the making
[10:20] {dino} spr bstop to .80
[10:20] {Threei} and all these patterns sxay the same thing: bottom is in
[10:20] {Threei} and you know what?
[10:21] {esemde} what
[10:21] {Threei} all this will be next to zero in value if there is no follow through
[10:21] {magoo} yep..feels like it is
[10:21] {Threei} any pattern works until it doesn't
[10:21] {dino} cov .78, +.22, reverse slip
[10:21] {GeoArb} comeon vad
[10:22] {Threei} double bottom - is it reversal pattern or just a part of inverted cup and handle in progress?
[10:22] {esemde} gotcha...........
[10:22] {GeoArb} i came here for the superlicious pattern
[10:22] {Threei} same can be said about any of them,
[10:22] {Threei} they all are not predictors,
[10:22] {Threei} they instruct us how to act
[10:22] {Threei} but do not predict outcome.
[10:22] {Threei} so, we go with those patterns that we can read and are comfortable with,
[10:23] {GeoArb} RSH breakdown?
[10:23] {Threei} put stops in place
[10:23] {Threei} and wait for the market to resolve the trade.
[10:23] {dino} nice read ntrs bruce
[10:23] {bruce} soiunds like a dairy queen specialty geo
[10:23] {Threei} This is the essence of trader's thinking
[10:23] {Threei} OK DRIV
[10:23] {GeoArb} heheh... i am in RSH btw
[10:24] {bruce} thanx dino - missed my entry
[10:24] {esemde} I have given just about all my trading books away.....
[10:24] {Threei} stop can be trailed to .39 or .45
[10:24] {esemde} only a 12 or so left......
[10:24] {Threei} and we have about 1:2
[10:24] {esemde} maybe thats still too many
[10:25] {magoo} out .70 TY vad dRIV
[10:25] {esemde} nice comeback by ESLR...
[10:25] {bruce} len dino - long candiate on .70break
[10:26] {judijim} jj ready, read previous comments this info/reminders thanks
[10:26] {Threei} jj :)
[10:26] {dino} wbsn s .08, stop hod
[10:27] {esemde} jj
[10:27] {Threei} ENTERS NEW EMPLOYMENT CONTRACT WITH JIM CRAMER
- Mr. Cramer will author articles for the company's advertising supported and paid publications including Action Alerts PLUS product.
[10:27] {Threei} - Will receive, among other things, an annual salary of $1.30M, $1.56M and $1.87M, respectively, for the three successive years agreement.
[10:27] {Threei} - Will receive a signing bonus in the amount of $100K and will be eligible for an annualized target bonus equal to 75% of salary based upon achievement of financial targets as determined b
[10:27] {Threei} TSCM
[10:27] {Threei} I am in a wrong business
[10:28] {GeoArb} vad dcc pls
[10:29] {dino} entertainment is the way
[10:29] {esemde} dunno about that dino
[10:29] {esemde} i've been in the entertainment business
[10:30] {esemde} for along time
[10:30] {esemde} am not workth millions
[10:30] {esemde} it's probably cost me to be in it
[10:31] {GeoArb} rsh finally
[10:31] {magoo} bad entry..but a pretty good exit DRIV
[10:32] {dino} tv then
[10:34] {dino} ptry blood
[10:34] {hawkfan4} solars holding strong through the selling so far
[10:37] {Threei} DOE CRUDE: -3.1M V +2.3ME; GASOLINE: -3.4M V -2.8ME; DISTILLATES: -3.69M V -1.5ME; UTILIZATION: 83% V 83%E
API:
[10:38] {Threei} anyone thinks tracking oil inventories on weekly basis is pretty much meaningless?
[10:38] {hawkfan4} {==raises his hand
[10:38] {Threei} last week crude inventory was up, this week down
[10:39] {Threei} what does it reflect but normal business volatility
[10:39] {GeoArb} hey ! it affects my beetle
[10:40] {Threei} nice RSH
[10:40] {GeoArb} Ty
[10:41] {GeoArb} paid 30 cents so far
[10:41] {GeoArb} my forst 500 lot (blushing)
[10:42] {bruce} ptry - wheres our ounce try dino - I can't read these bigspikes
[10:43] {dino} .10
[10:43] {magoo} stalking aapl and rimm..not in
[10:43] {magoo} any read vad?
[10:43] {dino} ok
[10:43] {bruce} lol
[10:44] {bruce} cool
[10:44] {dino} in sm .10
[10:44] {bruce} bidding 10 c
[10:44] {Threei} great job Geo
[10:44] {bruce} ah - mean mean 16.10
[10:45] {Threei} mags.. I want to papertrade next setup on RIMM first, to see if it restored its connection with NASDAQ
[10:45] {Threei} so far doesn't seem to be the case
[10:46] {magoo} ok
[10:46] {dino} stop .60
[10:46] {dino} out .62 +.52
[10:47] {dino} have to talk to "chuck", upslips on stops
[10:50] {bruce} len break of .60 with 9 c stop
[10:51] {dino} ntrs l .25 stop .96
[10:51] {bruce} nidce one dino
[10:52] {dino} ty, damn stop was way too tight
[10:53] {bruce} ntrs?
[10:55] {dino} in above
[10:56] {bruce} k
[10:56] {bruce} I like ntrs on a .30 brak fwiw
[10:58] {dino} gti stopped -.20
[10:58] {magoo} i hate to say it............................
[10:59] {bruce} fmcn long vcandiate on 36 break dino - stop would have to be .78 or so
[10:59] {magoo} eslr held pretty well
[10:59] {Threei} lol mags
[11:00] {Threei} I can't even begin to imagine how much it pains you to say that
[11:00] {Threei} FORMER FED CHIEF VOLCKER: FINANCIAL CRISES USUALLY DON'T HAPPEN WITHOUT UNDERLYING ECONOMIC PROBLEMS
[11:00] {Threei} no?
[11:00] {Chaeron} oh well, then that explains everything
[11:00] {bruce} apol spike dino
[11:01] {Threei} with all due respect to Volcker... I'd have to disagree
[11:01] {dino} ptry l .20, stop ..88
[11:03] {Threei} overextend credit without proper valuation of collateral, flood the market with derivatives securitizing that dubious credit, overleverage trading in those dubious securities - and you have financial crisis in the making no matter how well underlyiong economy is doing
[11:03] {magoo} aapl wants 153 RISKY..needs mkt
[11:06] {esemde} Volcker is nuts....he's got it backwards......
[11:07] {dino} rekclov?
[11:07] {Threei} oh, forgot to add... throw newly printed money into all this every time liquidity becomes an issue
[11:07] {Threei} and you have not just crisis but borderline catastrophe
[11:08] {esemde} stoke the inflation fires.......
[11:08] {esemde} and then they do something to quell inflation...weird...it's like a make work project to create a job for themselves
[11:10] {Threei} - Says US can not inflate its way out of current economic problems, warns against complacency on inflation
[11:10] {esemde} although....if i had that money printing machine......now that would be a different story
[11:11] {dino} salvation thru inflation
[11:11] {esemde} I'd inflate myself into millionaire status
[11:11] {Threei} you would me residing at your porch for weeks until you let me in
[11:11] {Threei} and I wouldn't stop at millionare :)
[11:12] {esemde} yes your right....Gordon Gecko said it right..."Greed Is Good"
[11:12] {Threei} COIN again
[11:12] {Threei} very adrenalin-packed trade
[11:12] {Threei} ugh... late
[11:13] {Threei} let's not chase it, it's beyond dangerous even with proper entry
[11:24] {dino} ptry stopped .94 -.26
[11:33] {dino} spr s .00
[11:36] {dino} fmcn
[11:40] {dino} fctr
[11:41] {dino} thin
[11:48] {dino} spr stopped -.03
[11:54] {GeoArb} out RSH 15.47 +0.55
[11:54] {Threei} wtg
[11:55] {dino} nice goe
[11:56] {judijim} good job geo
[11:57] {dino} cov wbsn .78, +.30
[11:58] {judijim} like magoo we like scalping aapl and rimm, since Jim was a former "indy"like car racer he still wants the fast rush
[11:58] {bruce} coc long break 9.15 any read vad?
[11:58] {bruce} coco
[11:59] {magoo} mkt can't get a reprieve
[11:59] {dino} ntrs last try l .25
[12:01] {dino} slow bleed
[12:01] {dino} ptry?
[12:02] {bruce} you thinking short ptry?
[12:03] {judijim} taking break, be back in hour:)
[12:03] {dino} no l
[12:03] {dino} double bottom or fall down
[12:04] {bruce} yes - would prefer to see some kind of double bottom before trying anything long
[12:10] {bruce} trying ntrs long here
[12:11] {bruce} l ntrs .32 stop at .19
[12:12] {GeoArb} off to work.... good ady.. trade well !
[12:12] {GeoArb} day
[12:13] {Threei} take care Geo
[12:22] {Threei} market starts feeling baaad
[12:24] {bruce} stopped ntrs
[12:25] {dino} at .07
[12:26] {bruce} l ptry 16.47 - stop .32
[12:28] {magoo} ESLR bounce play vad?
[12:29] {Threei} chart shows no signs of it
[12:29] {Threei} if PPT decides it's time for intervention, everything will chnage
[12:29] {Threei} but let's see it happening first
[12:30] {dino} we're only down 62
[12:30] {dino} icge
[12:30] {dino} nah
[12:31] {Threei} size of drop is not impressive, tru
[12:31] {Threei} but we are under important support
[12:31] {Threei} if we do not get back over it, it could signal beginning of unraveling
[12:32] {Threei} this is the reason for my lessened activity
[12:32] {Threei} I don't want to take longs facing possible sharp selloff,
[12:33] {Threei} and sharts as a continuation haven't really worked lately as interventions propped market right back up
[12:33] {Threei} sharts = shorts
[12:34] {dino} sharts, you know what they are?
[12:34] {magoo} silent farts??
[12:34] {dino} jack black in that something about polley movie
[12:34] {Threei} did I wake up a monster? :)
[12:34] {dino} sh#t farts
[12:34] {Threei} yes I did
[12:35] {dino} lol
[12:35] {magoo} last time i did that was the BIDU IPO
[12:36] {bruce} sropped ptry - lloks like it may bouncee here dino
[12:38] {dino} you know what i think, i think it goes to 15.40s first
[12:38] {magoo} made 11k but ruined my underware
[12:38] {dino} yeah, and his underwear is like the gals' in shallow hal
[12:40] {Threei} sigh
[12:40] {Threei} why do I keep getting all this info
[12:40] {Chaeron} more transcript editing required, Vad?
[12:43] {Threei} oh boy
[12:43] {Threei} I hate to do it... I may just skip posting it altogether, lol
[12:44] {magoo} they were the colored hanes briefs
[12:44] {dino} you need to rent that movie
[12:47] {Threei} market really froze
[12:47] {Threei} no way to tell what happens next
[12:48] {Threei} but there is always one thing to do that makes us feel better
[12:48] {Threei} and that is....
[12:48] * Threei slaps Laserdave1 around a bit with a large trout
[12:50] * Chaeron slaps Laserdave1 around a bit with a large trout
[12:50] * magoo slaps Laserdave1 around a bit with a large trout
[12:51] {Laserdave1} thanks guys
[12:51] {Laserdave1} i love you to
[12:51] {Threei} CRUDE OIL FUTURES HIT NEW RECORD HIGH- rises above the prior peak set March 17 at $111.80
[12:51] {Laserdave1} crude crude
[12:51] {Laserdave1} do we hear $150 anyone?
[12:52] {esemde} Outta here...take care everyone
[12:52] {Chaeron} bye ese
[12:54] {dino} ceph
[12:57] {dino} ntrs stopped -.13
[12:57] {dino} -.18
[12:59] {dino} ceph s .01
[12:59] {dino} risky
[13:02] {Threei} FED PLANS TO LEND $50B IN TLSF OPERATION ON 4/10
[13:10] {bruce} sndk break of 27 - any read vad?
[13:11] {Threei} worth a try
[13:11] {Threei} stop is a bit too far
[13:11] {Threei} so cut down the size
[13:12] {Threei} also, DRIV deserves try for bounce
[13:12] {Threei} stop would be under .70
[13:12] {bruce} yes 20 c stop - would prefer smaller on it
[13:12] {Threei} yes
[13:14] {dino} bstop to .73 ceph
[13:14] {magoo} where u get DRIV this time?
[13:14] {dino} stopped +.28
[13:14] {Threei} still looking
[13:16] {Threei} if it doesn't go under .80 anymore, just buy first uptick
[13:16] {Threei} .84 - .85
[13:16] {Threei} if loses it, will re-evaluate
[13:16] {Threei} SNDK almost 1:1
[13:17] {Chaeron} in DRIV .85
[13:18] {magoo} vad driv..full lot?
[13:19] {magoo} dammit..missed
[13:19] {dptl} out driv +.12ty
[13:20] {Threei} lol... dp manages to extract profit while magoo debates size... that's not you mags, you are faster than that
[13:22] {Threei} bruce, you booked SNDK yet?
[13:24] {bruce} yes - out w.20 vad
[13:24] {bruce} was nervous abpouttaking it
[13:24] {Threei} :)
[13:25] {Threei} what could make one nervous about making money
[13:25] {Threei} I need to ponder this... kind of novelty concept for me :)
[13:25] {bruce} doesn't move all that much - prefer smaller stop in stock like that
[13:26] {Threei} oh, you mean about entering
[13:26] {Threei} I thought "taking" as in taking profit
[13:26] {bruce} heck - love boking profits
[13:26] {Threei} OK{ my world is whole again :)
[13:27] {dptl} low volume today again
[13:28] {Threei} a bit better than yesterday though
[13:29] {dptl} well not in qqqq
[13:30] {Threei} in QQQQ too... 86,434 for the whole day yesrday,
[13:31] {Threei} 73,149 today, and we have 2 and half hours to go
[13:31] {Threei} DRIV 1:1
[13:32] {magoo} higher volume down day not bode well for rally theory
[13:32] {Threei} no, unless we manage to get back to yesterday's close
[13:33] {dptl} got to leave early.......have a good rest of the day all see ya tomorrow:)
[13:33] {Threei} take care dp
[13:33] {magoo} bye pd
[13:34] {Chaeron} dptl - booking profits and leaving before close? Is that allowed?
[13:34] {Threei} not really
[13:34] {magoo} really showing me up :)
[13:34] {Threei} one must give it all back before eod
[13:34] {Chaeron} oh ok........
[13:35] {Threei} it's daytrading, rfemember? we must be net neutral
[13:35] {Threei} flat at the end of the day in all senses of the word
[13:35] {Chaeron} wishing my tummy was flat.......
[13:36] {Threei} mine is flat... I just wish it was closer to my spine
[13:36] {Chaeron} lol
[13:44] {bruce} wow - quite a drop in ceph dino
[13:45] {Threei} chaeron, booked DRIV yet or trying for more?
[13:45] {judijim} did aapl scalp hit 152 +.17
[13:46] {Chaeron} holding for more as market tries a bit for less of a down day...
[13:46] {Threei} nice little C&H on 1 min, jj
[13:46] {Threei} a bit for less of a down
[13:46] {Threei} I will have to ask your permission to borrow that chaeron
[13:47] {Chaeron} anytime
[13:48] {Threei} a tad of less of a large chunck of little gain amidst bigger drop within small retreat
[13:49] {bruce} ntrs looking long here
[13:53] {magoo} u been on with ntrs?
[13:56] {bruce} stopped twice in it mags
[13:57] {Threei} FDIC'S BAIR SAYS PROPOSAL WOULD PROVIDE LIQUIDITY IN MORTGAGE LENDING
[13:58] {magoo} ok bruce..ty
[13:59] {Threei} ESLR looks wort a try
[13:59] {patience} vad, please, please can i have some momo and a bit of europhoria or heavy capitulation
[13:59] {Threei} stop under 11
[13:59] {Threei} coming right up patience
[13:59] {patience} great, this month's winnings are a little low
[14:00] {magoo} ok, where u in ESLR..i got .11
[14:00] {judijim} bruce, ntrs made a nice l play, we missed but still did what you thought
[14:00] {judijim} gj bruce
[14:01] {Threei} same mags
[14:01] {magoo} ok :)
[14:01] {magoo} thought i was late
[14:01] {Threei} no, you redeemed yourself in a role of lightningly fact cobra
[14:01] {dino} ptry l .55
[14:01] {Threei} fast
[14:01] {magoo} aaaaaaahhhhhhhhhhhh
[14:02] {dino} partial
[14:03] {dino} dwsn l sm .21
[14:06] {bruce} k judi - thanx - still working on reading these reversals - haveway to go
[14:12] {bruce} spike on mtl dino - a bit pricey for my tatstes though
[14:13] {dino} hmmm
[14:14] {dino} missed it
[14:15] {Threei} if NQ loses 1825, no longs
[14:16] {dino} v sm s .50
[14:27] {Threei} volume almost caught up with yesterday's, and still good chunk of time to go
[14:27] {Threei} not good for the market
[14:38] {dino} cov mtl 142.30, +1.20 sm, ty bruce
[14:38] {bruce} nice one dino
[14:40] {dino} sm l amag .93
[14:40] {dino} stop lod
[14:43] {Threei} FED'S FISHER: HE IS 'NOT AGAINST' CUTTING RATES, PREFERS WORKING ON LIQUIDITY MEASURES, CUTTING RATES RISKS INFLATION - Q&A COMMENTS
- Notes demand for energy, food, ethanol pushing up prices, inflationary impulses are different today
[14:43] {Threei} - Says Fed rate cuts not having intended effect, and fears inflation will rise as economy rebounds, efficiency of rate cuts is questionable
[14:43] {Threei} - Notes money supply measures 'pretty stout' recently
[14:43] {Threei} - Adds that weak period in the economy may be longer than expected
[14:43] {Threei} - Expects c
[14:44] {Threei} - Expects changes in Fed oversight of institutions that borrow from it; Notes that if the Fed is lending money to an institution, Fed needs to have information about that firm
[14:44] {Threei} novelty concept eh?
[14:55] {Threei} ESLR failed
[14:56] {Chaeron} yeah... was stopped out for .03... oh well
[14:59] {dino} us too
[15:01] {judijim} calling it a day, great day, good scalps with good stops too, +1.30:) Be back Thursday for short day
[15:01] {dino} gj
[15:01] {Chaeron} short day??? geeesh, I wish I had those hours :)
[15:05] {Threei} wtg jj
[15:08] {Threei} GOOG spike
[15:08] {dino} fmcn
[15:09] {Threei} IN TALKS TO CARRY SEARCH ADS FROM GOOGLE - WSJ- Yahoo talks with Google will involve short-term test{GOOG}
[15:10] {Threei} RIMM long with stop under .50
[15:11] {Threei} in
[15:12] {magoo} where?
[15:12] {Threei} .62
[15:14] {Chaeron} dang - missed... great job 3i
[15:14] {Threei} out half
[15:15] {Threei} +.32
[15:16] {Threei} stop is negligibly small, going to get greedy on this one
[15:17] {magoo} OY..me too
[15:17] {Threei} protected half mags?
[15:18] {magoo} yep 1178
[15:18] {magoo} sigh 118
[15:19] {Threei} good exit
[15:23] {ThurstonHowellTheThird} dino/bruce: CERN reversal?
[15:25] {ThurstonHowellTheThird} Xnay
[15:25] {Threei} go RIMM, my boy, redeem your lukewarm performance of late
[15:26] {magoo} tough right hrere
[15:27] {Threei} we have 60 cents here
[15:27] {Chaeron} well magoo, see what happens when I miss RIMM?
[15:27] {Threei} we need to pay him to stay away from it, mags
[15:28] {Chaeron} a %age?
[15:28] {Threei} that's how I understand what he is hinting at
[15:28] {Chaeron} I really wasn't
[15:28] {Threei} yeah yeah
[15:28] {Chaeron} just double up on the ones I miss
[15:28] {Threei} and send you half
[15:28] {Chaeron} you keep insisting....
[15:28] {magoo} or vad, dcc me..make call and we go opposite him
[15:28] {Threei} hehe
[15:29] {Chaeron} want to see two guys sell RIMM at market faster than the speed of light?
[15:29] {Threei} move you lazy berry
[15:29] {Threei} lol chaeron
[15:29] {Threei} good one
[15:29] * Chaeron long RIMM @ .12...... teasing
[15:30] {Threei} what do you know, he did it
[15:30] {Threei} what power
[15:31] {Chaeron} yeah but did you flip and short?
[15:32] {Threei} no
[15:32] {magoo} do NOT play with such power
[15:32] {Threei} I decide to see if I can overcome your curse
[15:32] {magoo} like ron reagon joking to nuke soviet union
[15:32] {Chaeron} lol
[15:33] {dino} grrrr missed the fmcn bruce
[15:36] {Threei} well Chaeron... you are strong... I am stronger :)
[15:36] {Threei} out almost all +.90
[15:36] {magoo} power of combined greed vad
[15:36] {Threei} got just 100 left
[15:36] {Chaeron} nice job Threei
[15:37] {Chaeron} sad I missed
[15:37] {Threei} yeah, that eas rare chance to play this stock with such tight stop at such favorable moment
[15:37] {Threei} GOOG/YHOO gave some enthusiasm to the market sitting at the low
[15:38] {Threei} and RIMM mercifully waited for us to enter
[15:38] {Threei} instead of just spiking right away with those
[15:38] {magoo} out some more .43
[15:39] {Threei} you may remember yesterday's play on RIMM, for a nice gain as well
[15:40] {Threei} but honestly, that one was more of luck
[15:40] {Threei} RIMM wasn't obeying yesterday to the degree that would allow me to take credit
[15:40] {Threei} this one is deserved profit
[15:40] {Threei} ideal conditions for entry
[15:42] {magoo} aall that paper trading
[15:42] {Threei} was worth it eh?
[15:43] {Threei} to take a buck or not
[15:44] {magoo} out .62 rest
[15:44] {magoo} TY
[15:44] {Threei} welcome sir
[15:44] {magoo} u got 100 left?
[15:44] {Threei} yeah
[15:45] {magoo} where a reload ?
[15:45] {magoo} .33?
[15:45] {Threei} mostly because I am not likely to take any more trades today
[15:45] {Threei} gotta entertain myself for 15 more minutes
[15:45] {Threei} I've no idea mgs
[15:45] {Threei} why do you need it really
[15:47] {magoo} greed
[15:48] {Threei} well
[15:48] {Chaeron} and to pay my %age
[15:48] {Threei} look at it this way
[15:48] {Threei} you got a dollar gain with about 15 cents risk
[15:48] {Threei} very volatile stock on a very tough day
[15:48] {Threei} is there any necessity to go to the well once too many?
[15:55] {Threei} ok... out last portion
[15:55] {Threei} enough is enough
[15:55] {Threei} thank you all
[15:55] {Threei} have a good evening, see you tomorrow
[15:58] {dino} ptry stopped sm -.30
[16:01] {magoo} ty vad
