May 07 2008
Session Time: Wed May 07 00:00:00 2008
[08:32] {Threei} Q1 PRELIMINARY NONFARM PRODUCTIVITY: 2.2% V 1.5%E; UNIT LABOR COSTS: 2.2% V 2.6%E
- Prior Nonfram Productivity revised from 1.9% to 1.8%
[08:32] {Threei} - Prior Unit Labor Costs revised from 2.6% to 2.8%
[08:33] {Threei} ENZN
[08:33] {Threei} REPORTS Q1 $0.03 V -$0.09E, R $ 48.8MV $45ME
[08:35] {magoo} morning
[08:35] {Threei} good morning
[08:36] {hawkfan4} good morning all
[08:36] {Threei} hawk :)
[08:38] {Onix} Morning you 5
[08:38] {magoo} whats with FWLT vad
[08:39] {Threei} 06:45am [FWLT] Reports Q1 $0.85 v $0.73e, R $1.80B v $1.48Be
[08:41] {Onix} Hi Vad, any advice please for someone who only has the first hour and the last hour of the market to trade?
[08:42] {Threei} nothing drastically different... take valid setups, stay away from emotional entries...
[08:42] {Threei} you do things by the book, profit will follow
[08:43] {Threei} stay away from slow ones that are not likely to resolve within your limited time window
[08:43] {Onix} Thanks. You don't often trade @ end of day?
[08:43] {Threei} depends on if there is something to trade
[08:44] {Threei} I change my activity and aggresiveness level depending on time of the day,
[08:44] {Threei} but there is no fast rule that forbids trading at this or that time
[08:44] {Threei} valid setup will get me into trade
[08:45] {Threei} FED'S KROSNZER: JUMP IN MORTGAGE FORECLOSURES IS AN URGENT PROBLEM
[08:45] {Threei} really?
[08:45] {Onix} May I bother you and ask here if there is anything worthwhile to trade when I come in for lunch @ last hour?
[08:46] {Threei} sure... but trust me, I report all my findings to the room :)
[08:46] {Threei} it's highly unlikely that I have something, keep it to myself and will share only on demand :)
[08:47] {Onix} Thanks
[08:47] {Threei} sometimes I feel particularly evilish of course
[08:48] {Onix} no, i don't believe that one
[08:48] {Threei} but I usually am able to manifest it in slapping dave
[08:48] {Threei} which brings desirable relief
[08:48] {Onix} yes, I have noticed you slapping Dave quite often with a trout?
[08:48] {Threei} yup
[08:48] {Threei} try it, it's fun
[08:49] {Onix} lol
[08:49] {Threei} FED'S KROSZNER: FORECLOSURES LIKELY TO HAVE RISEN FURTHER IN Q1;
[08:49] {Threei} - Lenders should consider mortgage writedowns
[08:49] {Threei} - Fed encouraging mortgage loss mitigation
[08:49] {Threei} - Home vacancies have negative effects on cities
[08:49] {Threei} - Urges congress to pass Fannie and Freddie regulator bill
[08:49] {fernp} good morning
[08:49] {Threei} fernp :)
[08:51] {Onix} since when is it the government's job to bail out investment banks and real estate companies?
[08:51] {Threei} that's a very good question
[08:52] {Threei} another good question is why Fed saves economy and ignores inflatiuon while controlling inflation is its major mandate
[08:52] {Threei} or why do they "save economy" by pumping more free money in the system that is already crumbling under weigth of debt
[08:52] {Onix} it all seems far more like a prop-up rather than solutions
[08:53] {Threei} very much so
[08:53] {Threei} and the chain is painfully obvious:
[08:54] {Onix} chain?
[08:54] {Threei} pump more money and cut rates - kill dollar - raise commodity prices - increase inflationary pressure even more by rising prices of oil, food etc
[08:55] {Onix} does not make a lick of sense
[08:55] {Threei} no... but that's what they are doing
[08:55] {Onix} one has to ask: who gains in these situations?
[08:55] {Threei} can we hope they have master plan that we just don't understand yet?
[08:56] {Threei} or it's more likely that they simply pour water whereevr more fire is right now?
[08:56] {Onix} that must be it
[08:56] {Onix} crisis management
[08:57] {Onix} goverment becoming a huge fire brigade
[08:57] {Threei} which is fancy word for "let's save out behind today, damn the consequences tomorrow"
[08:58] {Threei} the only silver lining that I see is,
[08:59] {esemde} morning all..dp fern hawk mags onix tom...back in victoria...and ready to roll ....sort of
[08:59] {Threei} talk about $200 oil became so wqidely accepted, we have a chance to see market once again doing the least expected thing
[08:59] {Threei} ese :)
[08:59] {esemde} hey Vad....
[08:59] {Onix} we think it's gonna run up huge and then it plunges?
[09:00] {Threei} don;'t know...
[09:01] {magoo} SNCR cut in half
[09:01] {_aosdaveg} morning
[09:01] {Threei} dave :)
[09:02] {Threei} ENZN gaps over resistance with no trades
[09:03] {Threei} CSUN touching close to yest high
[09:03] {hawkfan4} FRPT over 4
[09:03] {Threei} no news
[09:04] {Threei} can be a play on this break but it's more like swing
[09:04] {dino} gm all
[09:04] {Threei} dino :)
[09:07] {dino} onix, who gains...the politicians, who else, and why else. they are the only ones talking about it.
[09:08] {esemde} ONNN showing up on anyones screen
[09:08] {dino} i am still laughing on hillary, i voted to give you $600, and now want to cut the gas tax, but i also want to drastically raise all taxes next year
[09:09] {dino} because next year i am not up for election
[09:09] {dino} y es
[09:09] {Threei} isn't it nice
[09:09] {esemde} who was the ultimate winner yesterday dino?
[09:10] {dino} ?
[09:11] {esemde} is it over yet....i mean
[09:11] {esemde} Hilary or Obama.....whos the democratic nominee?
[09:12] {dino} no, in november
[09:13] {dino} 6 more months on nonsense
[09:19] {Onix} it is all so tiring already dino
[09:19] {Onix} all those fake sniles and what have ya
[09:20] {Onix} smiles
[09:20] {Onix} fake
[09:29] {Threei} FRPT pullback to 4 will be interesting for entry
[09:32] {Threei} solars strength
[09:33] {esemde} my solar screen looking pretry green
[09:34] {Threei} SOLF .16 long if stays above 15
[09:35] {Threei} half lot
[09:35] {Threei} volastile
[09:35] {esemde} bstop DTV 26.81 1/2 lot
[09:35] {magoo} in .16
[09:36] {esemde} Long DTV
[09:37] {Threei} CSUN .74 long
[09:37] {Roman} 21 long CPSL small
[09:37] {Threei} stop under .50
[09:37] {Roman} 21 3.83
[09:38] {Threei} no skaing out please SOLF
[09:38] {Threei} shaking
[09:38] {esemde} DTV stop .69
[09:40] {Threei} SOLF over 1:1
[09:41] {Threei} FRPT didn't really give chance for entry
[09:42] {esemde} DTVback to my fill point...hmmmmmmm
[09:42] {pita} solf ty vad
[09:42] {Threei} welcome
[09:43] {dino} ghdx
[09:43] {esemde} if DTV turns around for me hear it should be Ok...higher low theory
[09:44] {esemde} gotta break .95 or i'm out
[09:45] {Threei} AMKR 12.01 long if stays above .90
[09:47] {Onix} in @ 12.01
[09:47] {Onix} AMKR
[09:47] {esemde} amkr taking off Vad
[09:47] {Threei} hopefully
[09:48] {esemde} no vear to geet un for me though
[09:48] {Threei} 1:1 easy... not a scalp for me, decide what you want from it
[09:49] {Roman} 21 long COIN
[09:50] {Threei} half out .19
[09:50] {Threei} stop to .99
[09:50] {esemde} nice bounce up for the NDX
[09:52] {Threei} good one CPSL Roman
[09:54] {esemde} DTV at 3month high
[09:54] {esemde} .98
[09:55] {dino} ghdx l .20
[09:58] {Threei} CSUN holding by fingertips... but still holding nonetheless
[09:59] {esemde} same with DTV holding by fingertips
[10:00] {esemde} should take a shot at 27 though
[10:02] {Onix} out .28 AMKR, thanks Vad, only took 500 though
[10:04] {Threei} welcome :)
[10:04] {Threei} hit 1:3
[10:04] {Threei} not too shabby
[10:05] {Threei} stopped CSUN
[10:07] {Onix} good one Vad
[10:08] {dino} fwlt l; .10
[10:08] {Threei} this one desrves prize:
[10:09] {Threei} PRESIDENT BUSH: REITERATES CONCERN ABOUT THE HIGH PRICE OF GASOLINE
[10:10] {dino} hlex l .30
[10:10] {Threei} RIMM .70 long
[10:10] {Threei} stop under .50
[10:11] {Threei} got .73
[10:12] {Roman} 21 long MPEL
[10:12] {Roman} 21 14.58 small
[10:12] {Threei} out +.30
[10:13] {tomg} me too, ty vad
[10:13] {Threei} too soon
[10:13] {Threei} worth reentry but hard to call
[10:13] {Threei} see if you get a read
[10:14] {Threei} in
[10:14] {Threei} stop under .70
[10:14] {hawkfan4} .80
[10:14] {Threei} .81 :)
[10:15] {Threei} NQ weakens
[10:16] {magoo} where? lol
[10:17] {Threei} OK... NQ strengthens
[10:17] {Threei} :)
[10:17] {_lisa_jay} alvr
[10:17] {Roman} 21 out CPSL +.36
[10:18] {Threei} no worky
[10:18] {hawkfan4} nope, whippy out there
[10:18] {dino} out hlex .60, +.30
[10:19] {Roman} 21 FEED
[10:19] {Roman} 21 long setup, wild one
[10:19] {Roman} 21 looking for small pullback
[10:20] {esemde} FFIV keeps on climbing
[10:21] {Roman} 21 FEED maybe a 20.75
[10:21] {Roman} 21 break
[10:22] {judijim} goooood morning all
[10:22] {Threei} jj :)
[10:23] {esemde} jj
[10:27] {Onix} ALTR tripple bottom or what?
[10:28] {Threei} who knows... kind of listless chart
[10:28] {Onix} horrible!
[10:29] {Onix} especially when you are in it
[10:30] {Threei} DOE CRUDE: +5.65M V +1.5ME ;
[10:30] {Threei} GASOLINE: +794K V -200KE ; DISTILLATES:-107K V +1ME ;
[10:31] {dino} genc
[10:37] {Roman} 21 long SOLF small 14.40 bouncer
[10:39] {Roman} 21 CPHD
[10:39] {Roman} 21 long setup
[10:40] {Roman} 21 in CPHD small 24.22
[10:41] {Chaeron} good morning all
[10:41] {Threei} chaeron :)
[10:42] {esemde} hmmmmmm as Vad would say...sometimes you are the windshield and sometimes you are the bug....if DTV drifts any lower i become the bug...
[10:43] {tomg} any read rimm, vad?
[10:43] {Roman} 21 out SOLF +.23
[10:43] {Threei} up... but I have no entry
[10:43] {Threei} nice catch Roman
[10:44] {esemde} Vad let me ask you something.....did I hold onto it to long....should I have taken it when it was .98
[10:44] {Threei} 134 seems to be in cards easy
[10:44] {Threei} in hindsight, yes... but you know how much that is worth :)
[10:45] {esemde} true
[10:45] {Roman} 21 out CPHD +.23
[10:45] {Threei} see, my wway to play this kind of things:
[10:45] {esemde} well its a good trade am sticking to the rules....still have the stop in there......ya never know i guess
[10:45] {Threei} this is agressive entry on daily chart, right before major resistance break at 27,
[10:46] {Threei} but such breaks are iffy in a sense:
[10:46] {Threei} if they occur, they tend to catapult stock,
[10:46] {Threei} if rejected, it dies
[10:46] {Threei} so with aggressive entry, when tock comes to such resistance,
[10:46] {Threei} I prefer to take half off the table
[10:46] {Threei} and keep half for possible break, to maximize profit
[10:47] {Threei} while first sale protects what I already got in case break is rejected
[10:47] {esemde} so maybe i should have gone full lot....
[10:48] {esemde} opps...stopped .68.......-.14
[10:51] {dino} fwlt stop to .60
[10:52] {dino} out +.50
[10:52] {Roman} 21 long JADE small 3.15, all day trade
[10:52] {dino} out ghdx .60, +.40
[10:53] {Threei} CSIQ small shares long on .80 break
[10:56] {Threei} invalidated
[10:58] {Threei} oil 122?
[11:00] {hawkfan4} yep, that was one wild move
[11:00] {dino} ptsak?
[11:01] {Threei} dino... this is family room
[11:01] {Threei} no dirty words
[11:01] {dino} =53
[11:01] {dino} +
[11:01] {dino} one trade, crewed up
[11:03] {dino} ok, my typing sucks, +53, one trade, screwed up
[11:03] {magoo} no worse than vads dino
[11:05] {Threei} that's not possible
[11:05] {Threei} I proudly hold the title of world's wosrt typist
[11:05] {Threei} now and then magoo tries to compete... in vain
[11:10] {dino} crnt s .78, stop .01
[11:13] {Threei} RIMM disconnected from NQ
[11:13] {Threei} tought to read it without leading indicator
[11:13] {Threei} tough
[11:14] {tomg} good one earlier, though, vad,
[11:15] {tomg} ty for that one, gotta go, see ya tomorrow
[11:19] {dino} cya tom
[11:22] {Roman} 21 GLBL long
[11:24] {Roman} 21 17.69 with a stop at 17.47
[11:32] {Threei} RIMM bounce zone
[11:34] {dino} fwlt l .00
[11:38] {Threei} PRFT
[11:38] {Threei} TARGETING Q2 GAAP EPS OF $0.13-0.14
[11:43] {dino} crnt bstop to .51
[11:43] {judijim} taking break be back soon
[11:50] {dino} cov crnt .50, +.29
[11:50] {dino} opps, +.28
[11:52] {dino} clwr l .42
[12:01] {Threei} boring day
[12:04] {magoo} boring week
[12:04] {magoo} boring month
[12:04] {magoo} boring year
[12:04] {Threei} boring century
[12:04] {Threei} boring millenium
[12:06] {Threei} but I know what will make us fell better
[12:06] * Threei slaps Laserdave1 around a bit with a large trout
[12:06] * magoo slaps Laserdave1 around a bit with a large trout
[12:06] {Threei} did it work mags?
[12:06] {magoo} yeah..i feel better
[12:06] {Threei} 'cause if not, I have one more recipe
[12:07] * magoo slaps Chaeron around a bit with a large trout
[12:07] {magoo} that it??
[12:07] {Threei} that'll do too... but I had something else in mind
[12:07] {magoo} proceed sir..........
[12:07] * Threei slaps _aosdaveg around a bit with a large trout
[12:08] {magoo} ah...........nice...may i??
[12:08] {Threei} may? you must
[12:08] * magoo slaps _aosdaveg around a bit with a large trout
[12:09] {Threei} and there was no second of it that wouldn't be fun
[12:09] {Threei} well... at least fun in a sense I understand it, and that means 14 years old boy fun
[12:09] {Threei} nah... 11 years
[12:18] {dino} lamr l .30
[12:29] {Threei} with all this selling, we are still 20 points NQ above yesterday's low
[12:29] {Threei} kind of in the middle of nowhere
[12:30] {Threei} no indication of what's next
[12:34] * Chaeron slaps _aosdaveg around a bit with a large trout
[12:34] {Threei} goiod morning chaeron
[12:34] * Chaeron slaps Laserdave1 around a bit with a large trout
[12:34] * Chaeron slaps magoo around a bit with a large trout
[12:35] {Threei} you were in a coma or what?
[12:35] {Chaeron} still am
[12:35] {Threei} ah... that explains serious delay
[12:37] {Threei} OK, let's see if things get shaped up again
[12:37] {Threei} RIMM .51 long if stays above .35
[12:38] {Threei} more like testing water
[12:38] {Threei} so keep it small
[12:39] {magoo} in
[12:40] {dino} lamr stop to .74
[12:41] {magoo} in aapl too
[12:41] {Threei} 1:1 was easy
[12:41] {dino} out lamr .79, +.49
[12:41] {Threei} if can chew through this .71 offer, will be capable of more
[12:42] {Threei} wtg dino
[12:42] {dino} ty
[12:48] * Threei kicks RIMM in the rear with heavy duty army boots
[12:50] {Threei} hmmm... can't remember my kick being so ineffective
[12:50] {Threei} gotta try steeo toes I guess
[12:50] {Threei} steel
[12:52] {Threei} there... that's better
[12:53] {magoo} wow
[12:53] {Threei} stay clear of kick radius mags
[12:53] {Threei} 40 cents vs 15 cents risk
[12:53] {Threei} make your decision here
[12:54] {magoo} could u kick asapl?
[12:54] {dino} whats that applesauce?
[12:54] {Threei} who is asapl?
[12:55] {magoo} sigh.aapl
[12:55] {Threei} ah
[12:55] {Threei} just wanted to make sure I don't kick someone decent
[12:55] {Threei} there you go
[12:55] {Threei} 50 cents RIMM, me out
[12:56] {magoo} out here .17 TY
[12:56] {Threei} wtg
[12:56] {Threei} now, fess up... you have more patience than I do or you simply fell asleep in the middle of the trade?
[12:57] {magoo} well............
[12:58] {Threei} I really hope for latter
[12:58] {Threei} it would mean I am not the only one doing that
[12:59] {dino} clwr stop to .82
[13:02] {Threei} TREASURY'S $15B 10-YEAR NOTE AUCTION BID-TO-COVER RATIO: 2.21 V 2.34 PRIOR AND AVERAGE OF LAST FIVE AUCTIONS
- indirect bidders take 28.4% of competitive bids
[13:02] {Threei} - notes draw 3.937%
[13:02] {dino} out clwr .83 +.41
[13:07] {Threei} volume of this selling and its "verticalness", if that a word, look like there is news causing this
[13:07] {Threei} none that I see though
[13:08] {Threei} bounce soon RIMM
[13:09] {Threei} probably one more leg down
[13:09] {Threei} will be next to impossible to call it in time
[13:09] {Threei} either you get a read on it or stay away
[13:10] {dino} calm
[13:11] {Threei} in
[13:11] {Threei} stop under .90
[13:13] {Threei} doesn't look encouraging
[13:14] {Threei} stopped
[13:14] {Threei} maybe just a little shake but I am not taking chances
[13:15] {magoo} what enytry u get?
[13:15] {Threei} .04
[13:15] {magoo} me too exact
[13:16] {Threei} and .87 stop
[13:16] {magoo} .84
[13:19] {Threei} notice, all our morning plays died completely since we took profits
[13:20] {esemde} see ya all...gone for the day
[13:20] {Threei} on one hand, it keeps us from scalper's regret, lol
[13:20] {Threei} take care ese
[13:20] {Threei} but truth be told, I would prefer them to leave us in dust
[13:21] {Threei} SOLF, AMKR
[13:21] {Threei} look where we exikted and where they are now
[13:25] {Threei} tells us, it's still a scalper's market
[13:27] {magoo} yep
[13:27] {magoo} and its not even friday
[13:34] {Threei} GEORGE SOROS: "ACUTE PHASE" OF CRISIS LARGELY BEHIND US, THOUGH IMPACT ON US ECONOMY HAS 'ONLY BEGUN' TO BE FELT; THIS IS 'A BEAR MARKET RALLY'
[13:38] {Threei} RIMM shaort
[13:38] {Threei} short
[13:38] {Threei} try to get a bounce
[13:38] {Threei} here
[13:38] {Threei} stop .15
[13:39] {Threei} needs NQ to lose 1975 to work for real
[13:39] {Threei} there
[13:40] {Threei} about 30 cents
[13:40] {Threei} looks good for more
[13:40] {Threei} but let's poartial out
[13:41] {Threei} stop 132.01 for the balance
[13:41] {Roman} 21 SIRF high
[13:44] {Threei} out in full
[13:44] {Threei} +.85
[13:45] {magoo} 'nice vad
[13:46] {Chaeron} wow
[13:47] {Threei} wow is right
[13:47] {Threei} should I cry?
[13:47] {Chaeron} thank goodness I kept my stops on the long side.... couldn't get short fast enough... great call
[13:47] {Threei} or should I be aware that you are going to be very scared seeing me crying?
[13:47] {Chaeron} no... get us the bounce... tears get in the way
[13:48] {magoo} bounce somewhere vad
[13:48] {Threei} well, if this is not the spot for a bounce, I don't know what is
[13:48] {magoo} in .65
[13:50] {Chaeron} missed
[13:50] {Threei} ??
[13:50] {Threei} it sat here for a minute
[13:50] {Threei} you fall sleep during pushing buy button?
[13:50] {Chaeron} had some stupid box accidentally checked.,... not in execution mode...... whatever
[13:50] {Chaeron} #&*#&@&#$
[13:50] {Threei} yikes
[13:51] {Threei} magoo... you are in 3 cents above the low... if that's not a remarkable entry for such volatile stock
[13:51] {magoo} i'm a remarkable guy
[13:52] {Threei} modest too
[13:52] {Threei} don't oversit it, be humble
[13:52] {magoo} remarkibly so : )
[13:52] {Threei} hehe
[13:52] {Threei} this is one scared market today
[13:53] {Threei} you have a purpose to make money - not to make all money there is
[13:53] {magoo} out
[13:53] {Threei} surest way to get killed is to go for a killing
[13:57] {Onix} wise words thanks .. just a little too late today
[13:58] {Threei} I just realized... we haven't got a single word yet from our favorite stress-reliever
[13:58] * Threei slaps Laserdave1 around a bit with a large trout
[13:58] {Onix} but I will try and remember next time
[13:59] {Threei} jerky market - stay with scalps
[13:59] {Threei} especially in situation like this, where you go against the grain
[13:59] {Threei} RIMM established powerful downtrend, long for bounce is just a scvalp
[14:00] {Threei} that's why you sasw me partialling and holsding on short while jumping out of the water rather quickly on long
[14:05] {magoo} bounce here vad?
[14:07] {magoo} in .48
[14:07] {Threei} yup, valid play
[14:07] {Threei} stop under .30
[14:08] {magoo} bounce asapl too..in .50
[14:08] {dino} sm l calm .14
[14:09] {Chaeron} in RIMM .48 too
[14:09] {magoo} OY
[14:09] {Chaeron} kiss of death?
[14:10] {magoo} most likely
[14:10] {Chaeron} short it then
[14:10] {magoo} ufirst
[14:12] {Threei} come on RIMM{ reverse already
[14:13] {magoo} asapol too
[14:14] {magoo} steel tore vad
[14:15] {Threei} nope
[14:16] {Chaeron} -.26 stopped RIMM
[14:17] {dino} last try l sm fwlt .00
[14:20] {magoo} that sucked
[14:20] {Threei} ?
[14:22] {Threei} what did?
[14:23] {dino} stopped
[14:31] {dino} pretty fast 100 pt drop dji
[14:32] {Threei} oil over 123
[14:32] {Threei} gold 871, down 6.5
[14:32] {Threei} disconnects are everywhere
[14:38] {Threei} did govt announced a war somewhere and forgot to tell us?
[14:39] {dino} nah, not this time
[14:49] {Threei} US SENATE DEMOCRATS PROPOSE 25% WINDFALL PROFITS TAX AND END TO $17B IN TAX BREAKS TO OIL FIRMS- Energy bill would halt SPR fill, require CFTC to boost margin requirement for oil futures.
[14:52] {Threei} so, anyone sees anything warranting this panic?
[14:54] {dino} well, i see the price of oil rising on this\
[14:55] {dino} think carter did the same thing in the 70's, widfall profit tax, etc
[14:57] {dino} ok, back in 10, hard stop calm .88
[14:58] {Chaeron} I'm moving to Canada - not as socialistic
[14:59] {Threei} you'd think so
[15:00] {Threei} *MARCH CONSUMER CREDIT: $15.3B V $6.0BE
- prior revised from $5.2B to $6.5B
[15:01] {Threei} U.S. CFTC TELLS CONGRESS MARKET MANIPULATION IS NOT THE CAUSE OF HIGH COMMODITY FUTURES PRICES
[15:02] * Threei slaps CFTC around a bit with barrel of oil and gold bulllion
[15:13] {Threei} wake up guys, it's boring to watch this show alone
[15:13] {Threei} I run out of popcorn
[15:14] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzz
[15:14] {Threei} I'll take that
[15:15] {_aosdaveg} i see CNBC is doing the challenge again
[15:15] {Threei} they recycle their list of useless things to do?
[15:16] {Onix} any good short candidates?
[15:16] {dino} pretty much, thats why volume is off
[15:16] {dino} thinking long onix, fwiw
[15:16] {Threei} I would be very hesitant to short here onix
[15:17] {Onix} is this a good time to ask why you say that?
[15:17] {Threei} selloff feels really overextended for the day
[15:17] {Threei} not to say it cannot continue,
[15:17] {Onix} OK ty
[15:18] {Threei} but it's about odds and risk, right?
[15:18] {Threei} odds diminish with each next leg down,
[15:18] {Threei} risk increases
[15:19] {Onix} sometimes it feels as if I still have too much to learn
[15:19] {Threei} add all patterns of late,
[15:19] {Threei} which were rather on a side of sudden reverses
[15:19] {Threei} than continuation
[15:19] {Threei} if times have changed, I want to see it first, before committing
[15:20] {dino} just think opposit onix, most of what is ingrained from cnbc is wrong
[15:20] {Onix} some light is breaking through the fog on my few brain cells now
[15:20] {dino} down big, i look long, up big i look short....i'm a simple main
[15:21] {dino} man
[15:21] {Onix} contrary I would say
[15:21] {dino} vad is right tho, always think probabilities, thats all it really is
[15:21] {dino} :)
[15:21] {Threei} sorry onix, I have to ask this
[15:22] {Onix} what about the trend is your friend?
[15:22] {Threei} [15:20] {Onix} ... my few brain cells now
[15:22] {Threei} you have breain cells? even few? you are Einstein here then
[15:22] {Threei} because I decisively refuse to have any
[15:22] {Onix} Vad, sometimes it feels as if I', short quite a number of brain cells
[15:22] {Threei} they really get in the way of trading
[15:22] {dino} pretty good drop ufpt
[15:23] {Onix} lol
[15:23] {Onix} what about URBN
[15:23] {Threei} trend IS your friend... until it reverses
[15:23] {dino} for me, no, want fast drop
[15:23] {Threei} and we don't see much in terms of trends lately
[15:24] {Onix} so true hey
[15:24] {Threei} what we see for the most part is sudden and vicious reversals
[15:24] {Threei} it will change of course,
[15:24] {Threei} but you don;'t want to guess when it does,
[15:24] {Threei} by trying and risking your money.
[15:25] {Threei} You stay with the way things shape up until market proves you change came
[15:25] {Threei} what we see today is atypical vs last month or two,
[15:25] {Threei} so what do you see me doing?
[15:25] {Onix} going long
[15:25] {Threei} taking the safest trades possible, and decerasing activity
[15:25] {dino} yammering
[15:25] {Threei} tight dino, that too
[15:26] {dino} :)
[15:26] {Threei} look at our wins and stops today
[15:26] {Onix} i'm learning ...
[15:26] {Threei} wins are anywhere from 30 to 80 cents
[15:26] {Threei} stops are 15-20
[15:26] {Threei} sure, such management keeps us out of many trades
[15:26] {Threei} and increases shakeouts
[15:26] {Threei} so what?
[15:27] {dino} ok only 94 pts to go
[15:27] {Onix} will look through it all this evening
[15:27] {Onix} the daily log
[15:28] {Threei} you know where it's posted everyday
[15:28] {Onix} sure do
[15:28] {Threei} for all world to see how few brain cells if any we have
[15:29] {_aosdaveg} mkt just went flush
[15:29] {Threei} just?
[15:29] {Threei} where have you been last 2 hours?
[15:29] {Onix} flush with what?
[15:29] {Onix} 200?
[15:29] {Onix} -200
[15:30] {Threei} flush as in "down the drain"
[15:30] {Onix} oh flushed
[15:31] {Threei} dave is thinking toilets, you know
[15:31] {Threei} you just don't know him much :)
[15:31] {_aosdaveg} lol
[15:31] {Onix} lol
[15:31] {_aosdaveg} that may be a good thing
[15:41] {Threei} last one for today if you feel like risking 15-20 cents
[15:41] {Threei} RIMM .61 long
[15:41] {Threei} .40 support for stop placement
[15:42] {Threei} not holding
[15:44] {Threei} if held through shakeout, 1:1 hit
[15:45] {Threei} Onix... see how violent reversal is?
[15:46] {Onix} i'm whatching!
[15:46] {Threei} good sign: your spelling is getting worse
[15:46] {Threei} widely considered a necessity for traders
[15:47] {Onix} short overings?
[15:47] {Threei} kind of bad handwriting for doctors
[15:47] {Onix} coverings
[15:47] {Threei} mix of bounce players and short covering
[15:48] {Threei} envision yourself being a short player, facing these relentless rallies of late,
[15:48] {Threei} PPT ramping markets up in face of bad news
[15:48] {Onix} "house of pain!"
[15:48] {Threei} and ask yourself: would you risk staying short overnight?
[15:49] {Onix} never again!
[15:49] {Threei} so they prefer to get out and start tomorrow anew
[15:49] {Threei} can't blame them really, it wasn't easy ride for short side
[15:49] {Onix} wise
[15:50] {Threei} a lot are short from mid March
[15:50] {Threei} praying to get even
[15:50] {Threei} just as described in http://www.realitytrader.com/blog/2008/03/can-you-afford-to-be-wrong-for-too-long.html
[15:50] {Onix} praying helps?
[15:50] {Threei} not to my knowledge
[15:51] {_aosdaveg} no, it doesn't
[15:51] {Threei} if your trading toolbox came to prayers, you are seriously on a wrong side
[15:51] {_aosdaveg} beleive me
[15:51] {Onix} i believe you
[15:52] {Onix} wrong for too long and you are out for the count
[15:52] {Threei} at this point everyone is scared equally, longs and shorts
[15:52] {Threei} so we get these hectic movements
[15:53] {Threei} honestly, I don't know how anyone but day traders can play this market of last couple months or so
[15:53] {Threei} I get quite a few e-mails from swing and long term traders
[15:53] {Threei} way more than usual
[15:53] {Onix} tried swing but lost too many times
[15:54] {Threei} anyway guys... decent day
[15:54] {Threei} not as spectacular as yesterday but solid
[15:55] {Threei} do we have any major earnings today?
[15:55] {Threei} lemme look
[15:55] {Onix} thanks Vad .. I learned a little
[15:55] {dino} out calm .19, +.05
[15:56] {Threei} nope, just a pocket change, no major players
[15:57] {Threei} thank you all
[15:57] {Threei} have a great evening, see you tomorrow
[15:57] {Onix} bye
[15:57] {dino} cya vad
[15:58] {_lisa_jay} Thanks Threei.
[15:58] {Threei} :)
[16:00] {fernp} see you tomorrow. Good afternoon
[08:32] {Threei} Q1 PRELIMINARY NONFARM PRODUCTIVITY: 2.2% V 1.5%E; UNIT LABOR COSTS: 2.2% V 2.6%E
- Prior Nonfram Productivity revised from 1.9% to 1.8%
[08:32] {Threei} - Prior Unit Labor Costs revised from 2.6% to 2.8%
[08:33] {Threei} ENZN
[08:33] {Threei} REPORTS Q1 $0.03 V -$0.09E, R $ 48.8MV $45ME
[08:35] {magoo} morning
[08:35] {Threei} good morning
[08:36] {hawkfan4} good morning all
[08:36] {Threei} hawk :)
[08:38] {Onix} Morning you 5
[08:38] {magoo} whats with FWLT vad
[08:39] {Threei} 06:45am [FWLT] Reports Q1 $0.85 v $0.73e, R $1.80B v $1.48Be
[08:41] {Onix} Hi Vad, any advice please for someone who only has the first hour and the last hour of the market to trade?
[08:42] {Threei} nothing drastically different... take valid setups, stay away from emotional entries...
[08:42] {Threei} you do things by the book, profit will follow
[08:43] {Threei} stay away from slow ones that are not likely to resolve within your limited time window
[08:43] {Onix} Thanks. You don't often trade @ end of day?
[08:43] {Threei} depends on if there is something to trade
[08:44] {Threei} I change my activity and aggresiveness level depending on time of the day,
[08:44] {Threei} but there is no fast rule that forbids trading at this or that time
[08:44] {Threei} valid setup will get me into trade
[08:45] {Threei} FED'S KROSNZER: JUMP IN MORTGAGE FORECLOSURES IS AN URGENT PROBLEM
[08:45] {Threei} really?
[08:45] {Onix} May I bother you and ask here if there is anything worthwhile to trade when I come in for lunch @ last hour?
[08:46] {Threei} sure... but trust me, I report all my findings to the room :)
[08:46] {Threei} it's highly unlikely that I have something, keep it to myself and will share only on demand :)
[08:47] {Onix} Thanks
[08:47] {Threei} sometimes I feel particularly evilish of course
[08:48] {Onix} no, i don't believe that one
[08:48] {Threei} but I usually am able to manifest it in slapping dave
[08:48] {Threei} which brings desirable relief
[08:48] {Onix} yes, I have noticed you slapping Dave quite often with a trout?
[08:48] {Threei} yup
[08:48] {Threei} try it, it's fun
[08:49] {Onix} lol
[08:49] {Threei} FED'S KROSZNER: FORECLOSURES LIKELY TO HAVE RISEN FURTHER IN Q1;
[08:49] {Threei} - Lenders should consider mortgage writedowns
[08:49] {Threei} - Fed encouraging mortgage loss mitigation
[08:49] {Threei} - Home vacancies have negative effects on cities
[08:49] {Threei} - Urges congress to pass Fannie and Freddie regulator bill
[08:49] {fernp} good morning
[08:49] {Threei} fernp :)
[08:51] {Onix} since when is it the government's job to bail out investment banks and real estate companies?
[08:51] {Threei} that's a very good question
[08:52] {Threei} another good question is why Fed saves economy and ignores inflatiuon while controlling inflation is its major mandate
[08:52] {Threei} or why do they "save economy" by pumping more free money in the system that is already crumbling under weigth of debt
[08:52] {Onix} it all seems far more like a prop-up rather than solutions
[08:53] {Threei} very much so
[08:53] {Threei} and the chain is painfully obvious:
[08:54] {Onix} chain?
[08:54] {Threei} pump more money and cut rates - kill dollar - raise commodity prices - increase inflationary pressure even more by rising prices of oil, food etc
[08:55] {Onix} does not make a lick of sense
[08:55] {Threei} no... but that's what they are doing
[08:55] {Onix} one has to ask: who gains in these situations?
[08:55] {Threei} can we hope they have master plan that we just don't understand yet?
[08:56] {Threei} or it's more likely that they simply pour water whereevr more fire is right now?
[08:56] {Onix} that must be it
[08:56] {Onix} crisis management
[08:57] {Onix} goverment becoming a huge fire brigade
[08:57] {Threei} which is fancy word for "let's save out behind today, damn the consequences tomorrow"
[08:58] {Threei} the only silver lining that I see is,
[08:59] {esemde} morning all..dp fern hawk mags onix tom...back in victoria...and ready to roll ....sort of
[08:59] {Threei} talk about $200 oil became so wqidely accepted, we have a chance to see market once again doing the least expected thing
[08:59] {Threei} ese :)
[08:59] {esemde} hey Vad....
[08:59] {Onix} we think it's gonna run up huge and then it plunges?
[09:00] {Threei} don;'t know...
[09:01] {magoo} SNCR cut in half
[09:01] {_aosdaveg} morning
[09:01] {Threei} dave :)
[09:02] {Threei} ENZN gaps over resistance with no trades
[09:03] {Threei} CSUN touching close to yest high
[09:03] {hawkfan4} FRPT over 4
[09:03] {Threei} no news
[09:04] {Threei} can be a play on this break but it's more like swing
[09:04] {dino} gm all
[09:04] {Threei} dino :)
[09:07] {dino} onix, who gains...the politicians, who else, and why else. they are the only ones talking about it.
[09:08] {esemde} ONNN showing up on anyones screen
[09:08] {dino} i am still laughing on hillary, i voted to give you $600, and now want to cut the gas tax, but i also want to drastically raise all taxes next year
[09:09] {dino} because next year i am not up for election
[09:09] {dino} y es
[09:09] {Threei} isn't it nice
[09:09] {esemde} who was the ultimate winner yesterday dino?
[09:10] {dino} ?
[09:11] {esemde} is it over yet....i mean
[09:11] {esemde} Hilary or Obama.....whos the democratic nominee?
[09:12] {dino} no, in november
[09:13] {dino} 6 more months on nonsense
[09:19] {Onix} it is all so tiring already dino
[09:19] {Onix} all those fake sniles and what have ya
[09:20] {Onix} smiles
[09:20] {Onix} fake
[09:29] {Threei} FRPT pullback to 4 will be interesting for entry
[09:32] {Threei} solars strength
[09:33] {esemde} my solar screen looking pretry green
[09:34] {Threei} SOLF .16 long if stays above 15
[09:35] {Threei} half lot
[09:35] {Threei} volastile
[09:35] {esemde} bstop DTV 26.81 1/2 lot
[09:35] {magoo} in .16
[09:36] {esemde} Long DTV
[09:37] {Threei} CSUN .74 long
[09:37] {Roman} 21 long CPSL small
[09:37] {Threei} stop under .50
[09:37] {Roman} 21 3.83
[09:38] {Threei} no skaing out please SOLF
[09:38] {Threei} shaking
[09:38] {esemde} DTV stop .69
[09:40] {Threei} SOLF over 1:1
[09:41] {Threei} FRPT didn't really give chance for entry
[09:42] {esemde} DTVback to my fill point...hmmmmmmm
[09:42] {pita} solf ty vad
[09:42] {Threei} welcome
[09:43] {dino} ghdx
[09:43] {esemde} if DTV turns around for me hear it should be Ok...higher low theory
[09:44] {esemde} gotta break .95 or i'm out
[09:45] {Threei} AMKR 12.01 long if stays above .90
[09:47] {Onix} in @ 12.01
[09:47] {Onix} AMKR
[09:47] {esemde} amkr taking off Vad
[09:47] {Threei} hopefully
[09:48] {esemde} no vear to geet un for me though
[09:48] {Threei} 1:1 easy... not a scalp for me, decide what you want from it
[09:49] {Roman} 21 long COIN
[09:50] {Threei} half out .19
[09:50] {Threei} stop to .99
[09:50] {esemde} nice bounce up for the NDX
[09:52] {Threei} good one CPSL Roman
[09:54] {esemde} DTV at 3month high
[09:54] {esemde} .98
[09:55] {dino} ghdx l .20
[09:58] {Threei} CSUN holding by fingertips... but still holding nonetheless
[09:59] {esemde} same with DTV holding by fingertips
[10:00] {esemde} should take a shot at 27 though
[10:02] {Onix} out .28 AMKR, thanks Vad, only took 500 though
[10:04] {Threei} welcome :)
[10:04] {Threei} hit 1:3
[10:04] {Threei} not too shabby
[10:05] {Threei} stopped CSUN
[10:07] {Onix} good one Vad
[10:08] {dino} fwlt l; .10
[10:08] {Threei} this one desrves prize:
[10:09] {Threei} PRESIDENT BUSH: REITERATES CONCERN ABOUT THE HIGH PRICE OF GASOLINE
[10:10] {dino} hlex l .30
[10:10] {Threei} RIMM .70 long
[10:10] {Threei} stop under .50
[10:11] {Threei} got .73
[10:12] {Roman} 21 long MPEL
[10:12] {Roman} 21 14.58 small
[10:12] {Threei} out +.30
[10:13] {tomg} me too, ty vad
[10:13] {Threei} too soon
[10:13] {Threei} worth reentry but hard to call
[10:13] {Threei} see if you get a read
[10:14] {Threei} in
[10:14] {Threei} stop under .70
[10:14] {hawkfan4} .80
[10:14] {Threei} .81 :)
[10:15] {Threei} NQ weakens
[10:16] {magoo} where? lol
[10:17] {Threei} OK... NQ strengthens
[10:17] {Threei} :)
[10:17] {_lisa_jay} alvr
[10:17] {Roman} 21 out CPSL +.36
[10:18] {Threei} no worky
[10:18] {hawkfan4} nope, whippy out there
[10:18] {dino} out hlex .60, +.30
[10:19] {Roman} 21 FEED
[10:19] {Roman} 21 long setup, wild one
[10:19] {Roman} 21 looking for small pullback
[10:20] {esemde} FFIV keeps on climbing
[10:21] {Roman} 21 FEED maybe a 20.75
[10:21] {Roman} 21 break
[10:22] {judijim} goooood morning all
[10:22] {Threei} jj :)
[10:23] {esemde} jj
[10:27] {Onix} ALTR tripple bottom or what?
[10:28] {Threei} who knows... kind of listless chart
[10:28] {Onix} horrible!
[10:29] {Onix} especially when you are in it
[10:30] {Threei} DOE CRUDE: +5.65M V +1.5ME ;
[10:30] {Threei} GASOLINE: +794K V -200KE ; DISTILLATES:-107K V +1ME ;
[10:31] {dino} genc
[10:37] {Roman} 21 long SOLF small 14.40 bouncer
[10:39] {Roman} 21 CPHD
[10:39] {Roman} 21 long setup
[10:40] {Roman} 21 in CPHD small 24.22
[10:41] {Chaeron} good morning all
[10:41] {Threei} chaeron :)
[10:42] {esemde} hmmmmmm as Vad would say...sometimes you are the windshield and sometimes you are the bug....if DTV drifts any lower i become the bug...
[10:43] {tomg} any read rimm, vad?
[10:43] {Roman} 21 out SOLF +.23
[10:43] {Threei} up... but I have no entry
[10:43] {Threei} nice catch Roman
[10:44] {esemde} Vad let me ask you something.....did I hold onto it to long....should I have taken it when it was .98
[10:44] {Threei} 134 seems to be in cards easy
[10:44] {Threei} in hindsight, yes... but you know how much that is worth :)
[10:45] {esemde} true
[10:45] {Roman} 21 out CPHD +.23
[10:45] {Threei} see, my wway to play this kind of things:
[10:45] {esemde} well its a good trade am sticking to the rules....still have the stop in there......ya never know i guess
[10:45] {Threei} this is agressive entry on daily chart, right before major resistance break at 27,
[10:46] {Threei} but such breaks are iffy in a sense:
[10:46] {Threei} if they occur, they tend to catapult stock,
[10:46] {Threei} if rejected, it dies
[10:46] {Threei} so with aggressive entry, when tock comes to such resistance,
[10:46] {Threei} I prefer to take half off the table
[10:46] {Threei} and keep half for possible break, to maximize profit
[10:47] {Threei} while first sale protects what I already got in case break is rejected
[10:47] {esemde} so maybe i should have gone full lot....
[10:48] {esemde} opps...stopped .68.......-.14
[10:51] {dino} fwlt stop to .60
[10:52] {dino} out +.50
[10:52] {Roman} 21 long JADE small 3.15, all day trade
[10:52] {dino} out ghdx .60, +.40
[10:53] {Threei} CSIQ small shares long on .80 break
[10:56] {Threei} invalidated
[10:58] {Threei} oil 122?
[11:00] {hawkfan4} yep, that was one wild move
[11:00] {dino} ptsak?
[11:01] {Threei} dino... this is family room
[11:01] {Threei} no dirty words
[11:01] {dino} =53
[11:01] {dino} +
[11:01] {dino} one trade, crewed up
[11:03] {dino} ok, my typing sucks, +53, one trade, screwed up
[11:03] {magoo} no worse than vads dino
[11:05] {Threei} that's not possible
[11:05] {Threei} I proudly hold the title of world's wosrt typist
[11:05] {Threei} now and then magoo tries to compete... in vain
[11:10] {dino} crnt s .78, stop .01
[11:13] {Threei} RIMM disconnected from NQ
[11:13] {Threei} tought to read it without leading indicator
[11:13] {Threei} tough
[11:14] {tomg} good one earlier, though, vad,
[11:15] {tomg} ty for that one, gotta go, see ya tomorrow
[11:19] {dino} cya tom
[11:22] {Roman} 21 GLBL long
[11:24] {Roman} 21 17.69 with a stop at 17.47
[11:32] {Threei} RIMM bounce zone
[11:34] {dino} fwlt l .00
[11:38] {Threei} PRFT
[11:38] {Threei} TARGETING Q2 GAAP EPS OF $0.13-0.14
[11:43] {dino} crnt bstop to .51
[11:43] {judijim} taking break be back soon
[11:50] {dino} cov crnt .50, +.29
[11:50] {dino} opps, +.28
[11:52] {dino} clwr l .42
[12:01] {Threei} boring day
[12:04] {magoo} boring week
[12:04] {magoo} boring month
[12:04] {magoo} boring year
[12:04] {Threei} boring century
[12:04] {Threei} boring millenium
[12:06] {Threei} but I know what will make us fell better
[12:06] * Threei slaps Laserdave1 around a bit with a large trout
[12:06] * magoo slaps Laserdave1 around a bit with a large trout
[12:06] {Threei} did it work mags?
[12:06] {magoo} yeah..i feel better
[12:06] {Threei} 'cause if not, I have one more recipe
[12:07] * magoo slaps Chaeron around a bit with a large trout
[12:07] {magoo} that it??
[12:07] {Threei} that'll do too... but I had something else in mind
[12:07] {magoo} proceed sir..........
[12:07] * Threei slaps _aosdaveg around a bit with a large trout
[12:08] {magoo} ah...........nice...may i??
[12:08] {Threei} may? you must
[12:08] * magoo slaps _aosdaveg around a bit with a large trout
[12:09] {Threei} and there was no second of it that wouldn't be fun
[12:09] {Threei} well... at least fun in a sense I understand it, and that means 14 years old boy fun
[12:09] {Threei} nah... 11 years
[12:18] {dino} lamr l .30
[12:29] {Threei} with all this selling, we are still 20 points NQ above yesterday's low
[12:29] {Threei} kind of in the middle of nowhere
[12:30] {Threei} no indication of what's next
[12:34] * Chaeron slaps _aosdaveg around a bit with a large trout
[12:34] {Threei} goiod morning chaeron
[12:34] * Chaeron slaps Laserdave1 around a bit with a large trout
[12:34] * Chaeron slaps magoo around a bit with a large trout
[12:35] {Threei} you were in a coma or what?
[12:35] {Chaeron} still am
[12:35] {Threei} ah... that explains serious delay
[12:37] {Threei} OK, let's see if things get shaped up again
[12:37] {Threei} RIMM .51 long if stays above .35
[12:38] {Threei} more like testing water
[12:38] {Threei} so keep it small
[12:39] {magoo} in
[12:40] {dino} lamr stop to .74
[12:41] {magoo} in aapl too
[12:41] {Threei} 1:1 was easy
[12:41] {dino} out lamr .79, +.49
[12:41] {Threei} if can chew through this .71 offer, will be capable of more
[12:42] {Threei} wtg dino
[12:42] {dino} ty
[12:48] * Threei kicks RIMM in the rear with heavy duty army boots
[12:50] {Threei} hmmm... can't remember my kick being so ineffective
[12:50] {Threei} gotta try steeo toes I guess
[12:50] {Threei} steel
[12:52] {Threei} there... that's better
[12:53] {magoo} wow
[12:53] {Threei} stay clear of kick radius mags
[12:53] {Threei} 40 cents vs 15 cents risk
[12:53] {Threei} make your decision here
[12:54] {magoo} could u kick asapl?
[12:54] {dino} whats that applesauce?
[12:54] {Threei} who is asapl?
[12:55] {magoo} sigh.aapl
[12:55] {Threei} ah
[12:55] {Threei} just wanted to make sure I don't kick someone decent
[12:55] {Threei} there you go
[12:55] {Threei} 50 cents RIMM, me out
[12:56] {magoo} out here .17 TY
[12:56] {Threei} wtg
[12:56] {Threei} now, fess up... you have more patience than I do or you simply fell asleep in the middle of the trade?
[12:57] {magoo} well............
[12:58] {Threei} I really hope for latter
[12:58] {Threei} it would mean I am not the only one doing that
[12:59] {dino} clwr stop to .82
[13:02] {Threei} TREASURY'S $15B 10-YEAR NOTE AUCTION BID-TO-COVER RATIO: 2.21 V 2.34 PRIOR AND AVERAGE OF LAST FIVE AUCTIONS
- indirect bidders take 28.4% of competitive bids
[13:02] {Threei} - notes draw 3.937%
[13:02] {dino} out clwr .83 +.41
[13:07] {Threei} volume of this selling and its "verticalness", if that a word, look like there is news causing this
[13:07] {Threei} none that I see though
[13:08] {Threei} bounce soon RIMM
[13:09] {Threei} probably one more leg down
[13:09] {Threei} will be next to impossible to call it in time
[13:09] {Threei} either you get a read on it or stay away
[13:10] {dino} calm
[13:11] {Threei} in
[13:11] {Threei} stop under .90
[13:13] {Threei} doesn't look encouraging
[13:14] {Threei} stopped
[13:14] {Threei} maybe just a little shake but I am not taking chances
[13:15] {magoo} what enytry u get?
[13:15] {Threei} .04
[13:15] {magoo} me too exact
[13:16] {Threei} and .87 stop
[13:16] {magoo} .84
[13:19] {Threei} notice, all our morning plays died completely since we took profits
[13:20] {esemde} see ya all...gone for the day
[13:20] {Threei} on one hand, it keeps us from scalper's regret, lol
[13:20] {Threei} take care ese
[13:20] {Threei} but truth be told, I would prefer them to leave us in dust
[13:21] {Threei} SOLF, AMKR
[13:21] {Threei} look where we exikted and where they are now
[13:25] {Threei} tells us, it's still a scalper's market
[13:27] {magoo} yep
[13:27] {magoo} and its not even friday
[13:34] {Threei} GEORGE SOROS: "ACUTE PHASE" OF CRISIS LARGELY BEHIND US, THOUGH IMPACT ON US ECONOMY HAS 'ONLY BEGUN' TO BE FELT; THIS IS 'A BEAR MARKET RALLY'
[13:38] {Threei} RIMM shaort
[13:38] {Threei} short
[13:38] {Threei} try to get a bounce
[13:38] {Threei} here
[13:38] {Threei} stop .15
[13:39] {Threei} needs NQ to lose 1975 to work for real
[13:39] {Threei} there
[13:40] {Threei} about 30 cents
[13:40] {Threei} looks good for more
[13:40] {Threei} but let's poartial out
[13:41] {Threei} stop 132.01 for the balance
[13:41] {Roman} 21 SIRF high
[13:44] {Threei} out in full
[13:44] {Threei} +.85
[13:45] {magoo} 'nice vad
[13:46] {Chaeron} wow
[13:47] {Threei} wow is right
[13:47] {Threei} should I cry?
[13:47] {Chaeron} thank goodness I kept my stops on the long side.... couldn't get short fast enough... great call
[13:47] {Threei} or should I be aware that you are going to be very scared seeing me crying?
[13:47] {Chaeron} no... get us the bounce... tears get in the way
[13:48] {magoo} bounce somewhere vad
[13:48] {Threei} well, if this is not the spot for a bounce, I don't know what is
[13:48] {magoo} in .65
[13:50] {Chaeron} missed
[13:50] {Threei} ??
[13:50] {Threei} it sat here for a minute
[13:50] {Threei} you fall sleep during pushing buy button?
[13:50] {Chaeron} had some stupid box accidentally checked.,... not in execution mode...... whatever
[13:50] {Chaeron} #&*#&@&#$
[13:50] {Threei} yikes
[13:51] {Threei} magoo... you are in 3 cents above the low... if that's not a remarkable entry for such volatile stock
[13:51] {magoo} i'm a remarkable guy
[13:52] {Threei} modest too
[13:52] {Threei} don't oversit it, be humble
[13:52] {magoo} remarkibly so : )
[13:52] {Threei} hehe
[13:52] {Threei} this is one scared market today
[13:53] {Threei} you have a purpose to make money - not to make all money there is
[13:53] {magoo} out
[13:53] {Threei} surest way to get killed is to go for a killing
[13:57] {Onix} wise words thanks .. just a little too late today
[13:58] {Threei} I just realized... we haven't got a single word yet from our favorite stress-reliever
[13:58] * Threei slaps Laserdave1 around a bit with a large trout
[13:58] {Onix} but I will try and remember next time
[13:59] {Threei} jerky market - stay with scalps
[13:59] {Threei} especially in situation like this, where you go against the grain
[13:59] {Threei} RIMM established powerful downtrend, long for bounce is just a scvalp
[14:00] {Threei} that's why you sasw me partialling and holsding on short while jumping out of the water rather quickly on long
[14:05] {magoo} bounce here vad?
[14:07] {magoo} in .48
[14:07] {Threei} yup, valid play
[14:07] {Threei} stop under .30
[14:08] {magoo} bounce asapl too..in .50
[14:08] {dino} sm l calm .14
[14:09] {Chaeron} in RIMM .48 too
[14:09] {magoo} OY
[14:09] {Chaeron} kiss of death?
[14:10] {magoo} most likely
[14:10] {Chaeron} short it then
[14:10] {magoo} ufirst
[14:12] {Threei} come on RIMM{ reverse already
[14:13] {magoo} asapol too
[14:14] {magoo} steel tore vad
[14:15] {Threei} nope
[14:16] {Chaeron} -.26 stopped RIMM
[14:17] {dino} last try l sm fwlt .00
[14:20] {magoo} that sucked
[14:20] {Threei} ?
[14:22] {Threei} what did?
[14:23] {dino} stopped
[14:31] {dino} pretty fast 100 pt drop dji
[14:32] {Threei} oil over 123
[14:32] {Threei} gold 871, down 6.5
[14:32] {Threei} disconnects are everywhere
[14:38] {Threei} did govt announced a war somewhere and forgot to tell us?
[14:39] {dino} nah, not this time
[14:49] {Threei} US SENATE DEMOCRATS PROPOSE 25% WINDFALL PROFITS TAX AND END TO $17B IN TAX BREAKS TO OIL FIRMS- Energy bill would halt SPR fill, require CFTC to boost margin requirement for oil futures.
[14:52] {Threei} so, anyone sees anything warranting this panic?
[14:54] {dino} well, i see the price of oil rising on this\
[14:55] {dino} think carter did the same thing in the 70's, widfall profit tax, etc
[14:57] {dino} ok, back in 10, hard stop calm .88
[14:58] {Chaeron} I'm moving to Canada - not as socialistic
[14:59] {Threei} you'd think so
[15:00] {Threei} *MARCH CONSUMER CREDIT: $15.3B V $6.0BE
- prior revised from $5.2B to $6.5B
[15:01] {Threei} U.S. CFTC TELLS CONGRESS MARKET MANIPULATION IS NOT THE CAUSE OF HIGH COMMODITY FUTURES PRICES
[15:02] * Threei slaps CFTC around a bit with barrel of oil and gold bulllion
[15:13] {Threei} wake up guys, it's boring to watch this show alone
[15:13] {Threei} I run out of popcorn
[15:14] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzz
[15:14] {Threei} I'll take that
[15:15] {_aosdaveg} i see CNBC is doing the challenge again
[15:15] {Threei} they recycle their list of useless things to do?
[15:16] {Onix} any good short candidates?
[15:16] {dino} pretty much, thats why volume is off
[15:16] {dino} thinking long onix, fwiw
[15:16] {Threei} I would be very hesitant to short here onix
[15:17] {Onix} is this a good time to ask why you say that?
[15:17] {Threei} selloff feels really overextended for the day
[15:17] {Threei} not to say it cannot continue,
[15:17] {Onix} OK ty
[15:18] {Threei} but it's about odds and risk, right?
[15:18] {Threei} odds diminish with each next leg down,
[15:18] {Threei} risk increases
[15:19] {Onix} sometimes it feels as if I still have too much to learn
[15:19] {Threei} add all patterns of late,
[15:19] {Threei} which were rather on a side of sudden reverses
[15:19] {Threei} than continuation
[15:19] {Threei} if times have changed, I want to see it first, before committing
[15:20] {dino} just think opposit onix, most of what is ingrained from cnbc is wrong
[15:20] {Onix} some light is breaking through the fog on my few brain cells now
[15:20] {dino} down big, i look long, up big i look short....i'm a simple main
[15:21] {dino} man
[15:21] {Onix} contrary I would say
[15:21] {dino} vad is right tho, always think probabilities, thats all it really is
[15:21] {dino} :)
[15:21] {Threei} sorry onix, I have to ask this
[15:22] {Onix} what about the trend is your friend?
[15:22] {Threei} [15:20] {Onix} ... my few brain cells now
[15:22] {Threei} you have breain cells? even few? you are Einstein here then
[15:22] {Threei} because I decisively refuse to have any
[15:22] {Onix} Vad, sometimes it feels as if I', short quite a number of brain cells
[15:22] {Threei} they really get in the way of trading
[15:22] {dino} pretty good drop ufpt
[15:23] {Onix} lol
[15:23] {Onix} what about URBN
[15:23] {Threei} trend IS your friend... until it reverses
[15:23] {dino} for me, no, want fast drop
[15:23] {Threei} and we don't see much in terms of trends lately
[15:24] {Onix} so true hey
[15:24] {Threei} what we see for the most part is sudden and vicious reversals
[15:24] {Threei} it will change of course,
[15:24] {Threei} but you don;'t want to guess when it does,
[15:24] {Threei} by trying and risking your money.
[15:25] {Threei} You stay with the way things shape up until market proves you change came
[15:25] {Threei} what we see today is atypical vs last month or two,
[15:25] {Threei} so what do you see me doing?
[15:25] {Onix} going long
[15:25] {Threei} taking the safest trades possible, and decerasing activity
[15:25] {dino} yammering
[15:25] {Threei} tight dino, that too
[15:26] {dino} :)
[15:26] {Threei} look at our wins and stops today
[15:26] {Onix} i'm learning ...
[15:26] {Threei} wins are anywhere from 30 to 80 cents
[15:26] {Threei} stops are 15-20
[15:26] {Threei} sure, such management keeps us out of many trades
[15:26] {Threei} and increases shakeouts
[15:26] {Threei} so what?
[15:27] {dino} ok only 94 pts to go
[15:27] {Onix} will look through it all this evening
[15:27] {Onix} the daily log
[15:28] {Threei} you know where it's posted everyday
[15:28] {Onix} sure do
[15:28] {Threei} for all world to see how few brain cells if any we have
[15:29] {_aosdaveg} mkt just went flush
[15:29] {Threei} just?
[15:29] {Threei} where have you been last 2 hours?
[15:29] {Onix} flush with what?
[15:29] {Onix} 200?
[15:29] {Onix} -200
[15:30] {Threei} flush as in "down the drain"
[15:30] {Onix} oh flushed
[15:31] {Threei} dave is thinking toilets, you know
[15:31] {Threei} you just don't know him much :)
[15:31] {_aosdaveg} lol
[15:31] {Onix} lol
[15:31] {_aosdaveg} that may be a good thing
[15:41] {Threei} last one for today if you feel like risking 15-20 cents
[15:41] {Threei} RIMM .61 long
[15:41] {Threei} .40 support for stop placement
[15:42] {Threei} not holding
[15:44] {Threei} if held through shakeout, 1:1 hit
[15:45] {Threei} Onix... see how violent reversal is?
[15:46] {Onix} i'm whatching!
[15:46] {Threei} good sign: your spelling is getting worse
[15:46] {Threei} widely considered a necessity for traders
[15:47] {Onix} short overings?
[15:47] {Threei} kind of bad handwriting for doctors
[15:47] {Onix} coverings
[15:47] {Threei} mix of bounce players and short covering
[15:48] {Threei} envision yourself being a short player, facing these relentless rallies of late,
[15:48] {Threei} PPT ramping markets up in face of bad news
[15:48] {Onix} "house of pain!"
[15:48] {Threei} and ask yourself: would you risk staying short overnight?
[15:49] {Onix} never again!
[15:49] {Threei} so they prefer to get out and start tomorrow anew
[15:49] {Threei} can't blame them really, it wasn't easy ride for short side
[15:49] {Onix} wise
[15:50] {Threei} a lot are short from mid March
[15:50] {Threei} praying to get even
[15:50] {Threei} just as described in http://www.realitytrader.com/blog/2008/03/can-you-afford-to-be-wrong-for-too-long.html
[15:50] {Onix} praying helps?
[15:50] {Threei} not to my knowledge
[15:51] {_aosdaveg} no, it doesn't
[15:51] {Threei} if your trading toolbox came to prayers, you are seriously on a wrong side
[15:51] {_aosdaveg} beleive me
[15:51] {Onix} i believe you
[15:52] {Onix} wrong for too long and you are out for the count
[15:52] {Threei} at this point everyone is scared equally, longs and shorts
[15:52] {Threei} so we get these hectic movements
[15:53] {Threei} honestly, I don't know how anyone but day traders can play this market of last couple months or so
[15:53] {Threei} I get quite a few e-mails from swing and long term traders
[15:53] {Threei} way more than usual
[15:53] {Onix} tried swing but lost too many times
[15:54] {Threei} anyway guys... decent day
[15:54] {Threei} not as spectacular as yesterday but solid
[15:55] {Threei} do we have any major earnings today?
[15:55] {Threei} lemme look
[15:55] {Onix} thanks Vad .. I learned a little
[15:55] {dino} out calm .19, +.05
[15:56] {Threei} nope, just a pocket change, no major players
[15:57] {Threei} thank you all
[15:57] {Threei} have a great evening, see you tomorrow
[15:57] {Onix} bye
[15:57] {dino} cya vad
[15:58] {_lisa_jay} Thanks Threei.
[15:58] {Threei} :)
[16:00] {fernp} see you tomorrow. Good afternoon
