Jul 10 2008
Session Time: Thu Jul 10 00:00:00 2008
[08:21] {Threei} Good morning
[08:21] {Threei} FRE all time lows
[08:21] {Threei} FNM follows the suit
[08:30] {Threei} INITIAL JOBLESS CLAIMS: 346K V 395KE;
[08:30] {Threei} ONTINUING CLAIMS: 3.202MM V 3.140ME
[08:30] {Threei} Prior Continuing Claims revised from 3.116M to 3.111MM
[08:34] {brian3579} gm all
[08:34] {Threei} brian :)
[08:44] {Threei} 07/09/08 08:25pm
[08:44] {Threei} (US) WSJ reports that President Bush's administration has held discussions about what to do in the event that Fannie Mae and Freddie Mac falter - WSJ
[08:44] {Threei} - The report cites 3 people familiar with the situation.
[08:44] {Threei} - According to the article, these talks have been going on for months and are part of normal contingency planning that the Treasury Dept and other financial regulators regularly undertake, but the talks have become more serious recently.
[08:44] {Threei} at this rate they'll be at zero next week
[08:46] {Threei} WB
[08:46] {Threei} CHAIRMAN SMITH: WE HAVE A STRONG CAPITAL FOUNDATION AND OPTIONS FOR ADDRESSING THE CAPITAL BASE - CONF CALL COMMENTS
[08:47] {Threei} yup
[08:57] {magoo} mornink comrades
[08:57] {Threei} magoo :)
[09:00] {dino} gm all, brb
[09:00] {Threei} dino :)
[09:00] {Threei} hurry back
[09:00] {tomg} gm all
[09:01] {Threei} you want to be here for historic moment of FNM and FRE hitting zero, and if you are away for more than 15 minutes you do risk to miss that
[09:01] {Threei} tom :)
[09:01] {Threei} OPEC: CUTS 2015 DEMAND FORECASTS, SAYS EIA AND IEA ARE TOO OPTIMISTIC REGARDING FUTURE DEMAND
[09:02] {Threei} TGAL
[09:02] {Threei} RECEIVES 901ACS PLASMA ETCH SYSTEM ORDER AND ACS UPGRADE ORDERS FROM LEADING MAKER OF COMMERCIAL BIOMEMS-BASED MEDICAL TESTING PRODUCTS
[09:02] {fernp} Good morning all
[09:06] {Threei} fern :)
[09:07] {magoo} what ya thinking for today vad?{i know, i know..u don't think} BUT u usually have good feel...as in, little selloff then up? or more drearey down what?
[09:07] {Threei} you know, so far no feel at all
[09:07] {Threei} tried to get some read,
[09:07] {Threei} and found out that this is kind of day when anything can happen at any moment
[09:08] {Threei} FRE/FNM situation is ripe for some extreme events
[09:08] {Threei} and possible external interventions
[09:08] {Threei} and whole market will react violently if something happens with those two
[09:09] {Threei} I had an interesting talk yesterday with a guy who has a window into quite a few trading accounts at many brokerages
[09:09] {Threei} his words:
[09:10] {Threei} "a lot of traders who made money consistently year over year are hurting badly last month or so"
[09:10] {Threei} I am not surprized
[09:11] {Threei} extreme chop makes practically any system prone to more frequent stops
[09:11] {Threei} we see it too
[09:14] {judijim} good morning everyone
[09:15] {Threei} jj :)
[09:15] {cosmo} FCSX: FCStone misses by $0.05, beats on revsBriefing.com(Thu 8:05am)
[09:15] {magoo} yeah vad, i am down mon..up tues..down wed...hopefully up today...SIGH
[09:16] {magoo} like my RIMM short yesterday...rinse then collaspe
[09:16] {dino} rinse city boys
[09:16] {Threei} what a relentless selling on these two
[09:18] {Threei} both are shortable on Laser
[09:19] {Threei} let's stick to a very conservative side today
[09:20] {Threei} it's likely to be very choppy and listless
[09:24] {dptl} good morning all
[09:26] {Threei} dp :)
[09:28] {dino} colb ouch
[09:32] {Threei} 8.50 half lot short FRE if stays under .75
[09:34] {Threei} 1:1
[09:34] {Threei} scalping only at this point
[09:35] {tomg} nice one vad, missed it myself (:
[09:35] {Threei} FNM considerably stronger
[09:36] {Threei} 13.50 nearest resistance for it
[09:36] {Threei} not sure whether short it here or wait for stronegr bounce
[09:38] {Threei} RMBS .39 short if stays under .60
[09:38] {Threei} FRE bottomless
[09:39] {Threei} let's do half lot RMBS
[09:42] {Threei} 1:1
[09:42] {Threei} and over
[09:42] {Threei} my a$$ is out
[09:42] {tomg} missed again, all thumbs today
[09:43] {Threei} taking the surest money today
[09:43] {Threei} it bounced right into trigger after setting up...
[09:43] {Threei} gave entry chance
[09:43] {tomg} my fault, looked away a min
[09:44] {Threei} {AWAY} I am a looker alright
[09:44] {tomg} :)
[09:45] {tomg} got LEH long, though
[09:45] {Threei} nice spike on it
[09:45] {tomg} got out too soon, argh
[09:46] {Threei} no such thing today
[09:46] {Threei} take sure money
[09:46] {tomg} ok
[09:46] {Threei} smackdowns will be so violent, you can go from nice gain to disgusting loss faster than you can say OY
[09:46] {dino} aaww
[09:46] {Threei} have a look at LEH right now for illustration
[09:46] {tomg} yep, see what you mean
[09:47] {tomg} wow
[09:47] {tomg} happy with my .50 , whew!
[09:47] {magoo} nice start vad
[09:47] {Threei} ty mags
[09:47] {Threei} there you go tom... almost one buck down in one exhale
[09:48] {tomg} man
[09:48] {tomg} in less than a minute, too
[09:48] {Threei} ugh, missed WB long... didn't trust it
[09:50] {Threei} REPORTEDLY US TSY PAULSON TO MAKE COMMENTS FOR NEED FOR TIGHTER MARKET OVERSIGHT AND DISCIPLINE
[09:51] {Threei} closing barn doors after horses are gone?
[09:51] {Threei} where was this guy when banks flooded market with mortgage-back derivatives
[09:51] {Threei} backed
[09:52] {Threei} WB, reluctant long closer to 13.50
[09:52] {Threei} half lot!
[09:52] {Threei} wait with entry for FNM bounce
[09:53] {Threei} in
[09:53] {Threei} .39 stop
[09:54] {Threei} got .56
[09:54] {tomg} .57 here
[09:54] {Threei} stop to .45
[09:55] {Threei} not taking any chances for bigger loss than I can shrug off
[09:55] {Threei} rather will be shaken out than risk any quick selloff with slippage
[09:56] {Threei} needs to break .65
[09:57] {Threei} out
[09:57] {tomg} out
[09:57] {Threei} FNM losing ground again
[09:58] {cosmo} SYMC 19.24 = hod fwiw
[09:59] {cosmo} testing
[10:01] {Threei} TREASURY SEC PAULSON: FRE AND FNM ARE ADEQUATELY CAPITALIZED, FINANCIAL FIRMS MUST BE ALLOWED TO FAIL
[10:01] {cosmo} along with the home owners
[10:03] {dino} will 11120 hold?
[10:03] {Threei} Doesn't like it will
[10:04] {dino} thinking no
[10:04] {Threei} doesn't look
[10:04] {Threei} FRE
[10:04] {Threei} .49 short half lot
[10:04] {Threei} if stays under .65
[10:05] {Threei} 1:1 easy
[10:05] {Threei} covering half
[10:05] {Threei} let's try to ride a little
[10:05] {Threei} if no worky, back to scalps
[10:05] {dino} they are gearing up for a failure, "the problem of to big to fail"
[10:06] {Threei} sounds right
[10:06] {Threei} and scary
[10:06] {Threei} out second half
[10:07] {Threei} scalps r us
[10:08] {Threei} too many external noises are being made and each impacts the market
[10:08] {Threei} too ensitive to news and sound bites
[10:13] {Threei} FRE .49 short half lot
[10:13] {Threei} .65 stop
[10:13] {Threei} FNM diving
[10:14] {Threei} should take FRE with it
[10:15] {Threei} 1:1
[10:15] {dino} new lows dji
[10:18] {Threei} XLF 18.99 short if stays below 19.10
[10:19] {Chaeron} Good morning all
[10:21] {Threei} chaeron :)
[10:21] {Threei} missed a few good ones
[10:22] {Chaeron} hope there are more
[10:23] {Threei} SPOKESPERSON: FRE HAS 'ABSOLUTELY ENOUGH CAPITAL', COMMITTED TO RAISING ADDITIONAL CAPITAL WHEN APPROPRIATE
[10:23] {Threei} - States capital raise depends on market conditions{FNM XLF}
06[10:23] * Threei is crying
[10:25] {Threei} LEH
[10:25] {Threei} CNBC'S FABER: THERE ARE LOTS OF RUMORS, THEY ARE NOT TRUE, BUT THAT DOESN'T MATTER
[10:25] {Threei} huh?
[10:25] {Threei} new low FRE
[10:25] {Threei} and FNM
[10:26] {Threei} OK, this starts looking as panic
[10:27] {dino} v sm, risky, l cme 309.01
[10:27] {Threei} REPUBLICAN PRESIDENTIAL CANDIDATE MCCAIN: US CAN NOT ALLOW FRE, FNM TO FAIL
[10:28] {Threei} see tis headline and bounce?
[10:28] {Threei} unbelieavble sensitivity to any sound bite
[10:29] {dino} yeah, and we thought magoo was sensitve
[10:30] {Threei} sensitive magoo - now this is the concept I need a while to get used to
[10:31] {Threei} didn't we read yesterday somewhere that FNM backs up about 70% of mortgages in USA?
[10:31] {Threei} if memory serves me right and it's so... what could mechanics of its failure even be??
[10:34] {Threei} careful long FRE here
[10:34] {Threei} stop under .25
[10:34] {Threei} so keep size reasonable
[10:34] {Threei} not a scalp
[10:34] {Threei} aiming for closer to 8
[10:39] {Threei} held support with nice precision so far... now go you lame half dead financial mess
[10:39] {Chaeron} ah... the softer, kinder, nicer side of Threei
[10:39] {Threei} lol
[10:40] {Chaeron} cut the crap and use the boot or 2x4
06[10:40] * Threei kicks FRE in the rear with heavy duty army boots
[10:41] {Threei} lookie lookie
[10:41] {Chaeron} see?
[10:41] {magoo} wow..u ok?
[10:42] {Threei} me??
[10:42] {Threei} ask FRE!
[10:42] {magoo} yeah
[10:42] {Chaeron} where exit?
[10:42] {Chaeron} 8?
[10:42] {Threei} your choice
[10:42] {magoo} .93
[10:42] {Threei} scalp or hold
[10:42] {Threei} or partial
[10:42] {Threei} all bets are off today
[10:43] {Threei} we all have different risk tolerance
[10:43] {Threei} I don't want to impact your decision on such dangerous day
[10:43] {Threei} my personal is wehat magoevsky said
[10:44] {Threei} but I have a few nice wins from previous trades under my belt
[10:44] {Threei} and you camne in late for those
[10:44] {Chaeron} today's dangerous?
[10:44] {Threei} that does it
06[10:44] * Threei slaps Chaeron around a bit with a large trout
[10:44] {dptl} lol
[10:45] {Chaeron} I'm still waiting for your MOAB calls
[10:46] {Threei} not yet...
[10:46] {Threei} IMO{ this bear hasn't run its course yet
[10:46] {Chaeron} ok, how many of you punched in MOAB into your Level2? Truth now gang... LOL
[10:46] {Threei} lol
[10:46] {Threei} WHITE HOUSE: FOCUSED ON LEGISLATION FOR FRE, FNM THAT WILL PROVIDE MARKETS WITH CONFIDENCE
[10:47] {Threei} hmmm
[10:47] {magoo} what u get as entry ?
[10:47] {Threei} I'd expect more upside off this soundbite
[10:47] {Threei} maybe partial
[10:48] {Threei} .47
[10:48] {Threei} half out for me here
[10:48] {Threei} changing plan a little
[10:49] {Threei} market sharp downtick again
[10:50] {Threei} I guess while govt sounds like its ready to bail them out, nobody knows what terms would be
[10:50] {Threei} I mean, Bear Sterns bailout didn't do much for shareholders, right?
[10:50] {Threei} so immediate impact on trading is contained by that uncertainty
[10:51] {Threei} my stop is trailed to .45 on FRE
[10:51] {Chaeron} FRE in .27 out .80 +0.53... thanks Threei
[10:51] {Chaeron} (sorry about the agressive entry but had a tight stop)
[10:52] {Threei} why sorry
[10:52] {Threei} which type of entry one takes is entirely up to one
[10:52] {Chaeron} not normal
[10:52] {Threei} regular vs aggressive vs conservative
[10:55] {Threei} FED'S BERNANKE: FED IS PAYING ATTENTION TO FINANCIAL SYSTEM, FEELS MARKET REFORM SHOULD BE COMPLETELY CORRECTLY RATHER THAN WITH SPEED - Q&A
[10:57] {magoo} the news imo..is setting us up for move to greenland
[10:57] {magoo} any thoughts vad
[10:57] {Threei} can't tell really
[10:57] {Threei} it changes too quick and too often
[10:58] {Chaeron} patience is required
[10:58] {Chaeron} personally I am glad she's here everyday..............
[10:59] {patience} laughing
[10:59] {Threei} FNM sharp selling
[10:59] {Threei} FRE is holding a little better
[10:59] {Threei} out second half
[11:00] {Threei} letting it sort out the mess a little before I look for the next setup
[11:00] {Threei} also I need a little time to fix my shoulder
[11:01] {Threei} dislocated it while patting myself on the back for the precision with which FRE held stop level
[11:04] {Chaeron} anyone else having chart feed probs?
[11:04] {magoo} good here on serv 1
[11:05] {Threei} PIMCO SPOKESPERSON: PIMCO CONTINUES TO TRADE WITH LEH
[11:06] {Chaeron} thanks mags
[11:10] {magoo} works for u?
[11:11] {Chaeron} now it is on there... thanks
[11:28] {Chaeron} .
[11:28] {Threei} fine point
[11:29] {Threei} S SENATE VOTES TO LIMIT DEBATE ON THE THIRD SECTION OF THE HOUSING BILL, AS EXPECTED
[11:29] {Threei} - this procedural vote allows the Senate to move forward with a vote on the full housing bill
[11:29] {Threei} - note: the bill had been held up for several weeks by an attempt to attach a rider that would add billion of dollars in renewable energy tax credits. The sponsor of that rider said he would drop his efforts to add it into this bill.
[11:31] {magoo} vads, u got any friar tuk left?
[11:34] {magoo} out here .60 + 1 point
[11:34] {Chaeron} beauty magoo
[11:35] {patience} good day for you magoo :)
[11:36] {Threei} wtg mags
[11:38] {Threei} US TREASURY'S PAULSON: CONFIRMS STRONG USD POLICY, AS US HAS 'BEST LONG TERM FUNDAMENTALS' OF DEVELOPED COUNTRIES, WILL BE REFLECTED IN VALUE OF CURRENCY
[11:40] {Threei} CFTC NOTES THAT IT HAS OBSERVED NO SYSTEMATIC EFFORT TO INCREASE OIL PRICES
[11:40] {Threei} oh good
[11:43] {Threei} FNM pullback should be buyable
[11:43] {Chaeron} as close to...?
[11:44] {Threei} about here
[11:47] {Threei} in
[11:47] {Threei} stop under .80
[11:48] {Threei} not time yet
[11:49] {Threei} next leg down then
[11:49] {Threei} closer to .50
[11:51] {dino} wynn blood
[11:51] {Threei} .67 - .97 scalp... too fast to post sorry
[11:56] {Threei} WB
[11:56] {Threei} CEO STEEL: DEPOSITS AND BASIC LENDING ARE STRONG
[11:56] {Threei} the more they repeat it...
[11:56] {Threei} FED'S BERNANKE: GSES `WELL CAPITALIZED' ON A REGULATORY BASIS
[12:00] {Threei} watching NLY for pullback long entry
[12:03] {Threei} if no pullback, then .75 long with stop under .60
[12:04] {Threei} would love to see FNM goping upo for NLY entry
[12:05] {Threei} WB
[12:05] {Threei} RATINGS ON REVIEW FOR POSSIBLE DOWNGRADE AT MOODY'S
[12:07] {Threei} GEORGIA RECALLS ITS AMBASSADOR FROM RUSSIA FOR CONSULTATION
[12:10] {Threei} scratching N LY
[12:10] {Threei} stalled
[12:10] {Threei} want easy money only today
[12:15] {magoo} i do{oops..thought it was a question}
[12:16] {Threei} lol
06[12:16] * magoo slaps patience around a bit with a large trout
[12:17] {patience} ok, magoo, what's up
[12:18] {magoo} u are now designated my official dave warm up slap-ee
[12:18] {patience} magoo, you make me feel special
[12:19] {magoo} u are special to magoo
[12:24] {judijim} wehave been been trading only momentum trades for 10 to 30 minutes once or twice a week.
[12:25] {Threei} whatever works jj
[12:25] {magoo} from what u been posting, u have been doing quite well
[12:25] {Threei} if you used chicken entrails as indicator for entry and it was profitable - I say more power to you
[12:25] {magoo} 2 days over a grande each correct?
[12:26] {judijim} yes
[12:26] {Threei} now, if you had to bury a bat bone on the crossroad in full moon night - that could be aproblem
[12:27] {Chaeron} other than waiting for a full moon, what's the problem?
[12:27] {Threei} catching a bat, too much work... and most crossroads are covered with concrete these days, again increases a workload
[12:27] {Chaeron} details, details :)
[12:28] {Threei} chicken entrails on the other hand...
[12:28] {kazaam} hmmm, all these methods sound better than mine, throwing darts at my lcd...
[12:29] {judijim} today we tried 10 stocks and was up over 1100 dollars and before we could get out we made only 93 dollars
[12:29] {Threei} I like that one kaz... the trouble is I hit the LCD too often
[12:29] {Threei} wow jj
[12:29] {Threei} what happened?
[12:30] {Threei} they moved against you too fast for exit?
[12:30] {judijim} the timing was wrong
[12:30] {Threei} well, today was very hectic
[12:31] {dptl} what is your lot size judi...if i may ask?
[12:32] {magoo} what im interested in hearing is how the two of your can decide together{and in a timely fashion} on entries and exits
[12:32] {judijim} we buy only 100 shares right now
[12:32] {judijim} 10 stocks at a time
[12:33] {dptl} $1100 with 100 shares?
[12:33] {judijim} in a couple of months going to maybe200 each
[12:34] {judijim} we always buy 100,000 dollars at a time
[12:34] {magoo} whattttttttttttttttttttttttt? as magoo faints
[12:34] {dptl} so its about a $1 everege win per stock?
[12:35] {dptl} i am confuse
[12:35] {dino} out cme 313.21, +4.21
[12:35] {judijim} I was trying to dcc Vad , dont want to step on any toes
[12:35] {Threei} you don't... share freely :)
[12:35] {Threei} and to dcc, simply doubleclick on my nick
[12:35] {dino} tough crowd
[12:36] {judijim} since may 19, up just over 20,000 dollars
[12:36] {dino} magoo was only joiner
[12:36] {Threei} yes dino... they can focus on one person at a time
[12:36] {dino} dino is back
[12:37] {Threei} to chew gum and walk - no can do
[12:37] {judijim} i would be glad to share the stocks with anyone
[12:37] {Threei} you have floor jj
[12:38] {judijim} we buy on the high offer to save time
[12:38] {magoo} ok ok ...dino..........i took his trade at 307.00 and exited 311.56 THERE
[12:38] {judijim} and sell on the high offer
[12:38] {Threei} if you want, I'll efdit it out when post room transcript so it remains within RT
[12:40] {magoo} sheesh.i hope u edit some of my wise cracks boss
[12:40] {judijim} all our stocks are low pe and high growth type for investing, except we day trade these stocks
[12:41] {judijim} we were using two level twos for hedge when swing trading but not for about 6 weeks
[12:42] {dptl} i see .....ty
[12:43] {judijim} we found that our stocks move different from the dow and s&p
[12:44] {dino} ha, different, you should see magoo try to dance
[12:45] {judijim} also, for the last 3 weeks, been trading same stocks each day we trade
[12:47] {dino} whatever you're doing, keep doing it, gj
[12:47] {Threei} {magoo} sheesh.i hope u edit some of my wise cracks boss {---- nope, I actually add to them
[12:47] {magoo} man o man..vad hasn't made 20k in 2 years he he {as magoo grabs vodka and heads for nearest cave}
06[12:47] * Threei slaps magoo around a bit with a large trout
[12:47] {judijim} today was the first day we trades short beleive it or not in about two months
[12:48] {kazaam} are you trading stocks that are in the dow and sp?
[
[12:50] {dino} fmcn drops
[12:51] {judijim} we still have problem of exiting too soon
[12:51] {kazaam} mmmm, clf and anr are so good to me, makes me want to compose a song for them
[12:52] {kazaam} but of course, vad will have to sing it
[12:52] {kazaam} i am no singer
[12:53] {Threei} you don't want to be around when I siign
[12:53] {Threei} sing
[12:53] {Threei} people have been known to break down windows trying to get out of the zone of horror
[12:54] {judijim} yesterday, we got out at over 1000 dollars in ten minutes and then watched the rise another 2700 dollars in another 20 minutes
[12:55] {judijim} all done by 7:20 am yesterday morning
[12:56] {Threei} FMCN small shares short IF breaks down .40
[12:57] {Threei} .55 stop
[12:58] {dino} want it long off of 22.60
[12:58] {Threei} yup, if breaks .60 likely to bounce
[12:58] {Threei} wait, 22?
[12:58] {Threei} or 23?
[12:59] {dino} 22.60 waiting for it
[12:59] {Threei} oh OK, misunderstood you
[12:59] {dino} most likely won't happen, but lets see
[13:05] {judijim} signing off , have a great day everyone
[13:06] {Threei} take care jj, thanks for sharing
[13:06] {dptl} ty judi
[13:07] {kazaam} tks, cya tomorrow
[13:08] {dino} cya jj
[13:08] {Threei} no worky
[13:11] {magoo} good deal jj:)
[13:11] {dino} sm l fmcn .60 stop lod
[13:30] {dino} cavm sm l .80
[13:32] {Threei} RMBS
[13:32] {Threei} .41 long
[13:32] {Threei} .29 stop
[13:50] {Threei} no worky
[14:00] {dino} fmcn stop to b/e
[14:11] {dino} good thing, fell fast
[14:16] {Threei} wow
[14:17] {Threei} watched FRE trying to determine whether it's time to short
[14:17] {Threei} when it dropped before my very eyes almost 20 cents in no time
[14:18] {kazaam} here comes oil
[14:21] {Threei} FORMER FED PRESIDENT POOLE SUGGESTS THE GSES SHOULD BE NATIONALIZED - TV INTERVIEW
[14:21] {Threei} - follows comments he made overnight that the GSE's are "insolvent" and are increasingly likely to need a bail out
[14:21] {Threei} Y
[14:21] {Threei} I
[14:21] {Threei} K
[14:21] {Threei} E
[14:21] {Threei} S
[14:21] {Threei} is this waht oil reacted to?
[14:22] {Threei} seeing nationalizing of FRE/FNM as hugely inflationary step?
[14:25] {dino} don't really know what to make of it, other than the mortgage guarantees are good
[14:25] {Threei} implications are too deep and wide
[14:25] {Threei} I wouldn't even try to analyze them on the go
[14:25] {Threei} huge new debt taken on, one side
[14:25] {Threei} motrgages salvation on another
[14:26] {Threei} jeez
[14:26] {Threei} look at USO
[14:26] {dino} iran tensions
[14:28] {Threei} are there any new news on that?
[14:28] {Threei} I don't see anything
[14:29] {dino} 1:54, oil rebounds as iran tensions flare
[14:29] {cosmo} maybe this is the day before free energy disclosure?
[14:31] {dino} cavm approaching original target
[14:31] {dino} fmcn i mean
[14:33] {dino} i was thinking on oil, last year cost me $3,600 to heat my house, this year $7,200?
[14:33] {Threei} easily
[14:33] {Threei} if not more
[14:34] {Threei} there is till time left before winter for prices to increase
[14:34] {dino} crazy, few years ago it was only $2k
[14:35] {dino} wynn lod
[14:35] {Chaeron} move near me...
[14:36] {Chaeron} turned on furnace only a few times
[14:36] {Chaeron} last winter
[14:36] {Chaeron} and not even turned on ac so far this summer :)
[14:38] {Raven} 3 switch to nat gas dino
[14:38] {dino} thinking about it raven. just signed some leases w/chesapeake
[14:39] {Raven} 3 $700 to heat my house last winter
[14:39] {Raven} 3 and we're as cold as you guys
[14:39] {Raven} 3 maybe colder
[14:39] {dino} gas?
[14:39] {Raven} 3 yup]-]
[14:39] {Chaeron} good idea Raven... seriously
[14:39] {dino} sm l wynn .00
[14:40] {Raven} 3 OIl heat is a killer
[14:40] {dino} hmmmmmmm, must lokk into this
[14:40] {dino} look
[14:41] {dino} raven, if i may ask, square footage of your house?
[14:42] {Raven} 3 about 2700 ... first floor and finished basement
[14:42] {dino} ok, ty
[14:42] {Raven} 3 very well insulated also
[14:42] {dino} you don't heat basement do you? i have radiant in the floor but don't use it in basement, always constant 64
[14:43] {Raven} 3 absolutely heat basement ... 100% .... office down here
[14:43] {dino} lol, i see
[14:44] {Raven} 3 rebuilt the whole damn house in 2000 and switched to nat gas
[14:44] {Raven} 3 windows, doors, roof , siding ... whole damn mess
[14:44] {cosmo} move to AZ while its cheap
[14:45] {Raven} 3 that is in back of my mind cosmo ... more and more
[14:45] {cosmo} :)
[14:46] {Raven} 3 trouble is ya can't give a house away in this miserable state
[14:48] {cosmo} they're all miserable...
[14:48] {Raven} 3 lol ... not like Michigan
[14:48] {Raven} 3 land of the former auto industry
[14:48] {dino} ouch
[14:49] {Raven} 3 high paid union workers with no jobs
[14:49] {Raven} 3 high taxes on business
[14:49] {Raven} 3 great environment for growth
[14:49] {cosmo} what crop?
[14:49] {dino} yeah right
[14:50] {Raven} 3 marajuana ?
[14:50] {cosmo} four more years...
[14:51] {Raven} 3 read my lips
[14:51] {dino} wynn stopped
[14:54] {Threei} end of the world is back on agenda
[14:54] {Threei} US DOD OFFICIAL: IT APPEARS IRAN LAUNCHED ONLY ONE MISSILE TODAY
[14:54] {Threei} - reminder: Iran test fired four missiles yesterday as its war games continue
[14:55] {Threei} CNBC'S BERTHA COOMBS NOTING A TECHNICAL LEVEL AT $138 WAS REACHED, SENDING CRUDE HIGHER INTO THE CLOSE
[14:55] {Threei} ahhh... it's Bertha
[14:56] {Raven} 3 Bertha baby !
[14:56] {Raven} 3 sigh
[14:57] {dino} perfer becky
[14:58] {Raven} 3 right
[14:59] {Threei} now main question is,
[15:00] {Threei} do shorts cover into close or do longs bail?
[15:01] {patience} short covering...rally starting monday
[15:01] {Threei} wow... we have optimist among us
[15:02] {patience} yes, but i thought the u.s. would lower their rate....was very hopeful, lost the bet and have to buy blueberries for someone
[15:02] {Threei} someone was very happy
[15:02] {Threei} ask me how I know
[15:02] {patience} ?
[15:03] {Threei} I saw happiness in someone's eyes when looked in the mirror
[15:03] {Chaeron} vampires don't have reflections......
[15:03] {patience} roflol
[15:03] {Threei} for other people...
[15:03] {dino} ok, do we see the classic dino rinse on wynn
[15:03] {Threei} they cansee themselves though
[15:04] {Threei} (ask me how I know)
[15:04] {Chaeron} ok ok... "How do you know that Vad?"
[15:04] {Threei} lol
[15:10] {Raven} 3 Dow switching positions as fast as Obama and McCain
[15:12] {Threei} for all this hoopla, Dow and COMP are slightly green, futs asre slightly red
[15:15] {dino} crazy summer market
[15:15] {patience} no kidding
[15:15] {Threei} first in my trading career
[15:15] {patience} where' raven, he's traded longer than us
[15:16] {Raven} 3 I are here
[15:16] {dino} darn fmcn didn't fill my 22.60 order
[15:16] {patience} when was the market last like this....
[15:17] {dino} 2000\
[15:17] {Raven} 3 never was ... all markets slightly different
[15:17] {Threei} very valuable
[15:17] {cosmo} it never changes
[15:17] {Threei} come on Raven
[15:17] {Threei} tell us... ever seen summer market as active as this?
[15:17] {Raven} 3 sure
[15:17] {cosmo} last year
[15:18] {Raven} 3 most recently in the bull of 1990's
[15:18] {Raven} 3 lotsa action in summers then
[15:19] {Threei} maybe I've forgotten... my impression is there was significant slowdown
[15:19] {Raven} 3 ya gotta go back, year by year ... and that is tedious
[15:20] {Raven} 3 I remember some summers in the 1970's when things were very active
[15:20] {Raven} 3 of course the NYSE oinly traded 10 million shares a day ... lol
[15:20] {Raven} 3 all relative
[15:21] {cosmo} all on the phone too
[15:21] {Raven} 3 rofl
[15:22] {Raven} 3 thx cosmo
[15:22] {cosmo} :)
[15:22] {Raven} 3 prolly cell phones too
[15:22] {cosmo} hmm
[15:23] {cosmo} quotrek maybe
[15:23] {cosmo} nah
[15:23] {cosmo} too soon
[15:23] {Raven} 3 this market could stand a little comedy for a change ...
[15:24] {Raven} 3 frickin' gloom gets old after a while
[15:24] {Threei} no way
[15:24] {cosmo} we need change
[15:24] {Threei} end of the world is always fun stuff
[15:25] {Threei} just remember all the fun we had with Y2K
[15:25] {Raven} 3 36000 on the DOW more fun though
[15:25] {Threei} that I'll have to agree with
[15:25] {Raven} 3 Y2K ... yes ... did we survive it ?
[15:26] {Threei} not sure
[15:26] {Raven} 3 checking
[15:26] {Threei} but the way I think of it is,
[15:26] {cosmo} not yet anyway
[15:26] {Threei} as gloomy as things are right now
[15:26] {Threei} imagine the magnitude of relief if/when we finally are out of the woods
[15:27] {Threei} market will skyrocket on relief alone
[15:27] {patience} what year are you thinking that will be vad?
[15:27] {Threei} and if we never do get out of the woods... it's the end of the world anyway, who cares
[15:27] {Threei} we will have to live off the land
[15:27] {Threei} hmmm
[15:27] {Raven} 3 ohmygod
[15:27] {cosmo} we'll always have gravity
[15:28] {Raven} 3 is that like gravy ?
[15:28] {Threei} don't know what year... but it feels tio me that whenever reversal comes, it won't be of that standard capitulation and V-bottom kind
[15:28] {Threei} rather slow grind
[15:28] {dino} think so too, people will just give up
[15:28] {Chaeron} like pulling up on the stick of an airplane in a steep dive?
[15:29] {Chaeron} and the pilot can see the whites of the eyes of that mountain goat he's about to hit?
[15:29] {Threei} lol
[15:29] {dino} hadn't really thought about that
[15:29] {Threei} plate-shaped bottom
[15:29] {Threei} if I may say so
[15:30] {Raven} 3 mountain goats ... plates ... sheesh
[15:30] {Threei} we have vivid imagination
[15:30] {Chaeron} where else you get this type of entertainment?
[15:30] {Chaeron} other than when you drink half a bottle of tequila or vodka that is
[15:31] {Raven} 3 I was thinking that
[15:32] {Threei} tepmted to short FRE
[15:32] {Chaeron} I'm ready....
[15:32] {Threei} market is locked in narrow range
[15:33] {Threei} need it to break
[15:33] {Chaeron} .87?
[15:33] {Threei} can't tell really, it's more about market move than about technical levels on a stock
[15:35] {Threei} in
[15:35] {Threei} 8.01 stop
[15:38] {Threei} come on, let's see good old-fashioned panic into close
[15:39] {Threei} who wants to own this stock overnight
[15:42] {Chaeron} thought no overnights
[15:42] {magoo} not me..done for day..TY
[15:43] {Threei} no... I mean, who would want to hold it, sell into oblivion :)
[15:47] {Threei} all this barrage of bad news followed by worse followed by worst
[15:47] {Threei} and we close flat to green
[15:48] {Threei} financials, oil spike, Irna firing something somewhere
[15:48] {Threei} oh, and Bertha
[15:49] {patience} it was a good day for fertilizers, gold and oil, i'm not complaining :)
[15:49] {Threei} not complaining either
[15:49] {Threei} just wondering... with such resilience, maybe end of the world is canceled again
[15:51] {Threei} no end of day dumping either
[15:55] {dino} yet
[15:55] {Threei} yeah, a lot can happen in 5 min these days :)
[15:57] {Threei} lol... up into close
[15:58] {magoo} good nite
[15:58] {Threei} all indices and futs green
[15:58] {Threei} take care magoo
[15:58] {Threei} OK guys, have a good evening
[15:58] {Threei} see you tomorrow
[15:59] {dino} out cavm .61 -.19
[08:21] {Threei} Good morning
[08:21] {Threei} FRE all time lows
[08:21] {Threei} FNM follows the suit
[08:30] {Threei} INITIAL JOBLESS CLAIMS: 346K V 395KE;
[08:30] {Threei} ONTINUING CLAIMS: 3.202MM V 3.140ME
[08:30] {Threei} Prior Continuing Claims revised from 3.116M to 3.111MM
[08:34] {brian3579} gm all
[08:34] {Threei} brian :)
[08:44] {Threei} 07/09/08 08:25pm
[08:44] {Threei} (US) WSJ reports that President Bush's administration has held discussions about what to do in the event that Fannie Mae and Freddie Mac falter - WSJ
[08:44] {Threei} - The report cites 3 people familiar with the situation.
[08:44] {Threei} - According to the article, these talks have been going on for months and are part of normal contingency planning that the Treasury Dept and other financial regulators regularly undertake, but the talks have become more serious recently.
[08:44] {Threei} at this rate they'll be at zero next week
[08:46] {Threei} WB
[08:46] {Threei} CHAIRMAN SMITH: WE HAVE A STRONG CAPITAL FOUNDATION AND OPTIONS FOR ADDRESSING THE CAPITAL BASE - CONF CALL COMMENTS
[08:47] {Threei} yup
[08:57] {magoo} mornink comrades
[08:57] {Threei} magoo :)
[09:00] {dino} gm all, brb
[09:00] {Threei} dino :)
[09:00] {Threei} hurry back
[09:00] {tomg} gm all
[09:01] {Threei} you want to be here for historic moment of FNM and FRE hitting zero, and if you are away for more than 15 minutes you do risk to miss that
[09:01] {Threei} tom :)
[09:01] {Threei} OPEC: CUTS 2015 DEMAND FORECASTS, SAYS EIA AND IEA ARE TOO OPTIMISTIC REGARDING FUTURE DEMAND
[09:02] {Threei} TGAL
[09:02] {Threei} RECEIVES 901ACS PLASMA ETCH SYSTEM ORDER AND ACS UPGRADE ORDERS FROM LEADING MAKER OF COMMERCIAL BIOMEMS-BASED MEDICAL TESTING PRODUCTS
[09:02] {fernp} Good morning all
[09:06] {Threei} fern :)
[09:07] {magoo} what ya thinking for today vad?{i know, i know..u don't think} BUT u usually have good feel...as in, little selloff then up? or more drearey down what?
[09:07] {Threei} you know, so far no feel at all
[09:07] {Threei} tried to get some read,
[09:07] {Threei} and found out that this is kind of day when anything can happen at any moment
[09:08] {Threei} FRE/FNM situation is ripe for some extreme events
[09:08] {Threei} and possible external interventions
[09:08] {Threei} and whole market will react violently if something happens with those two
[09:09] {Threei} I had an interesting talk yesterday with a guy who has a window into quite a few trading accounts at many brokerages
[09:09] {Threei} his words:
[09:10] {Threei} "a lot of traders who made money consistently year over year are hurting badly last month or so"
[09:10] {Threei} I am not surprized
[09:11] {Threei} extreme chop makes practically any system prone to more frequent stops
[09:11] {Threei} we see it too
[09:14] {judijim} good morning everyone
[09:15] {Threei} jj :)
[09:15] {cosmo} FCSX: FCStone misses by $0.05, beats on revsBriefing.com(Thu 8:05am)
[09:15] {magoo} yeah vad, i am down mon..up tues..down wed...hopefully up today...SIGH
[09:16] {magoo} like my RIMM short yesterday...rinse then collaspe
[09:16] {dino} rinse city boys
[09:16] {Threei} what a relentless selling on these two
[09:18] {Threei} both are shortable on Laser
[09:19] {Threei} let's stick to a very conservative side today
[09:20] {Threei} it's likely to be very choppy and listless
[09:24] {dptl} good morning all
[09:26] {Threei} dp :)
[09:28] {dino} colb ouch
[09:32] {Threei} 8.50 half lot short FRE if stays under .75
[09:34] {Threei} 1:1
[09:34] {Threei} scalping only at this point
[09:35] {tomg} nice one vad, missed it myself (:
[09:35] {Threei} FNM considerably stronger
[09:36] {Threei} 13.50 nearest resistance for it
[09:36] {Threei} not sure whether short it here or wait for stronegr bounce
[09:38] {Threei} RMBS .39 short if stays under .60
[09:38] {Threei} FRE bottomless
[09:39] {Threei} let's do half lot RMBS
[09:42] {Threei} 1:1
[09:42] {Threei} and over
[09:42] {Threei} my a$$ is out
[09:42] {tomg} missed again, all thumbs today
[09:43] {Threei} taking the surest money today
[09:43] {Threei} it bounced right into trigger after setting up...
[09:43] {Threei} gave entry chance
[09:43] {tomg} my fault, looked away a min
[09:44] {Threei} {AWAY} I am a looker alright
[09:44] {tomg} :)
[09:45] {tomg} got LEH long, though
[09:45] {Threei} nice spike on it
[09:45] {tomg} got out too soon, argh
[09:46] {Threei} no such thing today
[09:46] {Threei} take sure money
[09:46] {tomg} ok
[09:46] {Threei} smackdowns will be so violent, you can go from nice gain to disgusting loss faster than you can say OY
[09:46] {dino} aaww
[09:46] {Threei} have a look at LEH right now for illustration
[09:46] {tomg} yep, see what you mean
[09:47] {tomg} wow
[09:47] {tomg} happy with my .50 , whew!
[09:47] {magoo} nice start vad
[09:47] {Threei} ty mags
[09:47] {Threei} there you go tom... almost one buck down in one exhale
[09:48] {tomg} man
[09:48] {tomg} in less than a minute, too
[09:48] {Threei} ugh, missed WB long... didn't trust it
[09:50] {Threei} REPORTEDLY US TSY PAULSON TO MAKE COMMENTS FOR NEED FOR TIGHTER MARKET OVERSIGHT AND DISCIPLINE
[09:51] {Threei} closing barn doors after horses are gone?
[09:51] {Threei} where was this guy when banks flooded market with mortgage-back derivatives
[09:51] {Threei} backed
[09:52] {Threei} WB, reluctant long closer to 13.50
[09:52] {Threei} half lot!
[09:52] {Threei} wait with entry for FNM bounce
[09:53] {Threei} in
[09:53] {Threei} .39 stop
[09:54] {Threei} got .56
[09:54] {tomg} .57 here
[09:54] {Threei} stop to .45
[09:55] {Threei} not taking any chances for bigger loss than I can shrug off
[09:55] {Threei} rather will be shaken out than risk any quick selloff with slippage
[09:56] {Threei} needs to break .65
[09:57] {Threei} out
[09:57] {tomg} out
[09:57] {Threei} FNM losing ground again
[09:58] {cosmo} SYMC 19.24 = hod fwiw
[09:59] {cosmo} testing
[10:01] {Threei} TREASURY SEC PAULSON: FRE AND FNM ARE ADEQUATELY CAPITALIZED, FINANCIAL FIRMS MUST BE ALLOWED TO FAIL
[10:01] {cosmo} along with the home owners
[10:03] {dino} will 11120 hold?
[10:03] {Threei} Doesn't like it will
[10:04] {dino} thinking no
[10:04] {Threei} doesn't look
[10:04] {Threei} FRE
[10:04] {Threei} .49 short half lot
[10:04] {Threei} if stays under .65
[10:05] {Threei} 1:1 easy
[10:05] {Threei} covering half
[10:05] {Threei} let's try to ride a little
[10:05] {Threei} if no worky, back to scalps
[10:05] {dino} they are gearing up for a failure, "the problem of to big to fail"
[10:06] {Threei} sounds right
[10:06] {Threei} and scary
[10:06] {Threei} out second half
[10:07] {Threei} scalps r us
[10:08] {Threei} too many external noises are being made and each impacts the market
[10:08] {Threei} too ensitive to news and sound bites
[10:13] {Threei} FRE .49 short half lot
[10:13] {Threei} .65 stop
[10:13] {Threei} FNM diving
[10:14] {Threei} should take FRE with it
[10:15] {Threei} 1:1
[10:15] {dino} new lows dji
[10:18] {Threei} XLF 18.99 short if stays below 19.10
[10:19] {Chaeron} Good morning all
[10:21] {Threei} chaeron :)
[10:21] {Threei} missed a few good ones
[10:22] {Chaeron} hope there are more
[10:23] {Threei} SPOKESPERSON: FRE HAS 'ABSOLUTELY ENOUGH CAPITAL', COMMITTED TO RAISING ADDITIONAL CAPITAL WHEN APPROPRIATE
[10:23] {Threei} - States capital raise depends on market conditions{FNM XLF}
06[10:23] * Threei is crying
[10:25] {Threei} LEH
[10:25] {Threei} CNBC'S FABER: THERE ARE LOTS OF RUMORS, THEY ARE NOT TRUE, BUT THAT DOESN'T MATTER
[10:25] {Threei} huh?
[10:25] {Threei} new low FRE
[10:25] {Threei} and FNM
[10:26] {Threei} OK, this starts looking as panic
[10:27] {dino} v sm, risky, l cme 309.01
[10:27] {Threei} REPUBLICAN PRESIDENTIAL CANDIDATE MCCAIN: US CAN NOT ALLOW FRE, FNM TO FAIL
[10:28] {Threei} see tis headline and bounce?
[10:28] {Threei} unbelieavble sensitivity to any sound bite
[10:29] {dino} yeah, and we thought magoo was sensitve
[10:30] {Threei} sensitive magoo - now this is the concept I need a while to get used to
[10:31] {Threei} didn't we read yesterday somewhere that FNM backs up about 70% of mortgages in USA?
[10:31] {Threei} if memory serves me right and it's so... what could mechanics of its failure even be??
[10:34] {Threei} careful long FRE here
[10:34] {Threei} stop under .25
[10:34] {Threei} so keep size reasonable
[10:34] {Threei} not a scalp
[10:34] {Threei} aiming for closer to 8
[10:39] {Threei} held support with nice precision so far... now go you lame half dead financial mess
[10:39] {Chaeron} ah... the softer, kinder, nicer side of Threei
[10:39] {Threei} lol
[10:40] {Chaeron} cut the crap and use the boot or 2x4
06[10:40] * Threei kicks FRE in the rear with heavy duty army boots
[10:41] {Threei} lookie lookie
[10:41] {Chaeron} see?
[10:41] {magoo} wow..u ok?
[10:42] {Threei} me??
[10:42] {Threei} ask FRE!
[10:42] {magoo} yeah
[10:42] {Chaeron} where exit?
[10:42] {Chaeron} 8?
[10:42] {Threei} your choice
[10:42] {magoo} .93
[10:42] {Threei} scalp or hold
[10:42] {Threei} or partial
[10:42] {Threei} all bets are off today
[10:43] {Threei} we all have different risk tolerance
[10:43] {Threei} I don't want to impact your decision on such dangerous day
[10:43] {Threei} my personal is wehat magoevsky said
[10:44] {Threei} but I have a few nice wins from previous trades under my belt
[10:44] {Threei} and you camne in late for those
[10:44] {Chaeron} today's dangerous?
[10:44] {Threei} that does it
06[10:44] * Threei slaps Chaeron around a bit with a large trout
[10:44] {dptl} lol
[10:45] {Chaeron} I'm still waiting for your MOAB calls
[10:46] {Threei} not yet...
[10:46] {Threei} IMO{ this bear hasn't run its course yet
[10:46] {Chaeron} ok, how many of you punched in MOAB into your Level2? Truth now gang... LOL
[10:46] {Threei} lol
[10:46] {Threei} WHITE HOUSE: FOCUSED ON LEGISLATION FOR FRE, FNM THAT WILL PROVIDE MARKETS WITH CONFIDENCE
[10:47] {Threei} hmmm
[10:47] {magoo} what u get as entry ?
[10:47] {Threei} I'd expect more upside off this soundbite
[10:47] {Threei} maybe partial
[10:48] {Threei} .47
[10:48] {Threei} half out for me here
[10:48] {Threei} changing plan a little
[10:49] {Threei} market sharp downtick again
[10:50] {Threei} I guess while govt sounds like its ready to bail them out, nobody knows what terms would be
[10:50] {Threei} I mean, Bear Sterns bailout didn't do much for shareholders, right?
[10:50] {Threei} so immediate impact on trading is contained by that uncertainty
[10:51] {Threei} my stop is trailed to .45 on FRE
[10:51] {Chaeron} FRE in .27 out .80 +0.53... thanks Threei
[10:51] {Chaeron} (sorry about the agressive entry but had a tight stop)
[10:52] {Threei} why sorry
[10:52] {Threei} which type of entry one takes is entirely up to one
[10:52] {Chaeron} not normal
[10:52] {Threei} regular vs aggressive vs conservative
[10:55] {Threei} FED'S BERNANKE: FED IS PAYING ATTENTION TO FINANCIAL SYSTEM, FEELS MARKET REFORM SHOULD BE COMPLETELY CORRECTLY RATHER THAN WITH SPEED - Q&A
[10:57] {magoo} the news imo..is setting us up for move to greenland
[10:57] {magoo} any thoughts vad
[10:57] {Threei} can't tell really
[10:57] {Threei} it changes too quick and too often
[10:58] {Chaeron} patience is required
[10:58] {Chaeron} personally I am glad she's here everyday..............
[10:59] {patience} laughing
[10:59] {Threei} FNM sharp selling
[10:59] {Threei} FRE is holding a little better
[10:59] {Threei} out second half
[11:00] {Threei} letting it sort out the mess a little before I look for the next setup
[11:00] {Threei} also I need a little time to fix my shoulder
[11:01] {Threei} dislocated it while patting myself on the back for the precision with which FRE held stop level
[11:04] {Chaeron} anyone else having chart feed probs?
[11:04] {magoo} good here on serv 1
[11:05] {Threei} PIMCO SPOKESPERSON: PIMCO CONTINUES TO TRADE WITH LEH
[11:06] {Chaeron} thanks mags
[11:10] {magoo} works for u?
[11:11] {Chaeron} now it is on there... thanks
[11:28] {Chaeron} .
[11:28] {Threei} fine point
[11:29] {Threei} S SENATE VOTES TO LIMIT DEBATE ON THE THIRD SECTION OF THE HOUSING BILL, AS EXPECTED
[11:29] {Threei} - this procedural vote allows the Senate to move forward with a vote on the full housing bill
[11:29] {Threei} - note: the bill had been held up for several weeks by an attempt to attach a rider that would add billion of dollars in renewable energy tax credits. The sponsor of that rider said he would drop his efforts to add it into this bill.
[11:31] {magoo} vads, u got any friar tuk left?
[11:34] {magoo} out here .60 + 1 point
[11:34] {Chaeron} beauty magoo
[11:35] {patience} good day for you magoo :)
[11:36] {Threei} wtg mags
[11:38] {Threei} US TREASURY'S PAULSON: CONFIRMS STRONG USD POLICY, AS US HAS 'BEST LONG TERM FUNDAMENTALS' OF DEVELOPED COUNTRIES, WILL BE REFLECTED IN VALUE OF CURRENCY
[11:40] {Threei} CFTC NOTES THAT IT HAS OBSERVED NO SYSTEMATIC EFFORT TO INCREASE OIL PRICES
[11:40] {Threei} oh good
[11:43] {Threei} FNM pullback should be buyable
[11:43] {Chaeron} as close to...?
[11:44] {Threei} about here
[11:47] {Threei} in
[11:47] {Threei} stop under .80
[11:48] {Threei} not time yet
[11:49] {Threei} next leg down then
[11:49] {Threei} closer to .50
[11:51] {dino} wynn blood
[11:51] {Threei} .67 - .97 scalp... too fast to post sorry
[11:56] {Threei} WB
[11:56] {Threei} CEO STEEL: DEPOSITS AND BASIC LENDING ARE STRONG
[11:56] {Threei} the more they repeat it...
[11:56] {Threei} FED'S BERNANKE: GSES `WELL CAPITALIZED' ON A REGULATORY BASIS
[12:00] {Threei} watching NLY for pullback long entry
[12:03] {Threei} if no pullback, then .75 long with stop under .60
[12:04] {Threei} would love to see FNM goping upo for NLY entry
[12:05] {Threei} WB
[12:05] {Threei} RATINGS ON REVIEW FOR POSSIBLE DOWNGRADE AT MOODY'S
[12:07] {Threei} GEORGIA RECALLS ITS AMBASSADOR FROM RUSSIA FOR CONSULTATION
[12:10] {Threei} scratching N LY
[12:10] {Threei} stalled
[12:10] {Threei} want easy money only today
[12:15] {magoo} i do{oops..thought it was a question}
[12:16] {Threei} lol
06[12:16] * magoo slaps patience around a bit with a large trout
[12:17] {patience} ok, magoo, what's up
[12:18] {magoo} u are now designated my official dave warm up slap-ee
[12:18] {patience} magoo, you make me feel special
[12:19] {magoo} u are special to magoo
[12:24] {judijim} wehave been been trading only momentum trades for 10 to 30 minutes once or twice a week.
[12:25] {Threei} whatever works jj
[12:25] {magoo} from what u been posting, u have been doing quite well
[12:25] {Threei} if you used chicken entrails as indicator for entry and it was profitable - I say more power to you
[12:25] {magoo} 2 days over a grande each correct?
[12:26] {judijim} yes
[12:26] {Threei} now, if you had to bury a bat bone on the crossroad in full moon night - that could be aproblem
[12:27] {Chaeron} other than waiting for a full moon, what's the problem?
[12:27] {Threei} catching a bat, too much work... and most crossroads are covered with concrete these days, again increases a workload
[12:27] {Chaeron} details, details :)
[12:28] {Threei} chicken entrails on the other hand...
[12:28] {kazaam} hmmm, all these methods sound better than mine, throwing darts at my lcd...
[12:29] {judijim} today we tried 10 stocks and was up over 1100 dollars and before we could get out we made only 93 dollars
[12:29] {Threei} I like that one kaz... the trouble is I hit the LCD too often
[12:29] {Threei} wow jj
[12:29] {Threei} what happened?
[12:30] {Threei} they moved against you too fast for exit?
[12:30] {judijim} the timing was wrong
[12:30] {Threei} well, today was very hectic
[12:31] {dptl} what is your lot size judi...if i may ask?
[12:32] {magoo} what im interested in hearing is how the two of your can decide together{and in a timely fashion} on entries and exits
[12:32] {judijim} we buy only 100 shares right now
[12:32] {judijim} 10 stocks at a time
[12:33] {dptl} $1100 with 100 shares?
[12:33] {judijim} in a couple of months going to maybe200 each
[12:34] {judijim} we always buy 100,000 dollars at a time
[12:34] {magoo} whattttttttttttttttttttttttt? as magoo faints
[12:34] {dptl} so its about a $1 everege win per stock?
[12:35] {dptl} i am confuse
[12:35] {dino} out cme 313.21, +4.21
[12:35] {judijim} I was trying to dcc Vad , dont want to step on any toes
[12:35] {Threei} you don't... share freely :)
[12:35] {Threei} and to dcc, simply doubleclick on my nick
[12:35] {dino} tough crowd
[12:36] {judijim} since may 19, up just over 20,000 dollars
[12:36] {dino} magoo was only joiner
[12:36] {Threei} yes dino... they can focus on one person at a time
[12:36] {dino} dino is back
[12:37] {Threei} to chew gum and walk - no can do
[12:37] {judijim} i would be glad to share the stocks with anyone
[12:37] {Threei} you have floor jj
[12:38] {judijim} we buy on the high offer to save time
[12:38] {magoo} ok ok ...dino..........i took his trade at 307.00 and exited 311.56 THERE
[12:38] {judijim} and sell on the high offer
[12:38] {Threei} if you want, I'll efdit it out when post room transcript so it remains within RT
[12:40] {magoo} sheesh.i hope u edit some of my wise cracks boss
[12:40] {judijim} all our stocks are low pe and high growth type for investing, except we day trade these stocks
[12:41] {judijim} we were using two level twos for hedge when swing trading but not for about 6 weeks
[12:42] {dptl} i see .....ty
[12:43] {judijim} we found that our stocks move different from the dow and s&p
[12:44] {dino} ha, different, you should see magoo try to dance
[12:45] {judijim} also, for the last 3 weeks, been trading same stocks each day we trade
[12:47] {dino} whatever you're doing, keep doing it, gj
[12:47] {Threei} {magoo} sheesh.i hope u edit some of my wise cracks boss {---- nope, I actually add to them
[12:47] {magoo} man o man..vad hasn't made 20k in 2 years he he {as magoo grabs vodka and heads for nearest cave}
06[12:47] * Threei slaps magoo around a bit with a large trout
[12:47] {judijim} today was the first day we trades short beleive it or not in about two months
[12:48] {kazaam} are you trading stocks that are in the dow and sp?
[
[12:50] {dino} fmcn drops
[12:51] {judijim} we still have problem of exiting too soon
[12:51] {kazaam} mmmm, clf and anr are so good to me, makes me want to compose a song for them
[12:52] {kazaam} but of course, vad will have to sing it
[12:52] {kazaam} i am no singer
[12:53] {Threei} you don't want to be around when I siign
[12:53] {Threei} sing
[12:53] {Threei} people have been known to break down windows trying to get out of the zone of horror
[12:54] {judijim} yesterday, we got out at over 1000 dollars in ten minutes and then watched the rise another 2700 dollars in another 20 minutes
[12:55] {judijim} all done by 7:20 am yesterday morning
[12:56] {Threei} FMCN small shares short IF breaks down .40
[12:57] {Threei} .55 stop
[12:58] {dino} want it long off of 22.60
[12:58] {Threei} yup, if breaks .60 likely to bounce
[12:58] {Threei} wait, 22?
[12:58] {Threei} or 23?
[12:59] {dino} 22.60 waiting for it
[12:59] {Threei} oh OK, misunderstood you
[12:59] {dino} most likely won't happen, but lets see
[13:05] {judijim} signing off , have a great day everyone
[13:06] {Threei} take care jj, thanks for sharing
[13:06] {dptl} ty judi
[13:07] {kazaam} tks, cya tomorrow
[13:08] {dino} cya jj
[13:08] {Threei} no worky
[13:11] {magoo} good deal jj:)
[13:11] {dino} sm l fmcn .60 stop lod
[13:30] {dino} cavm sm l .80
[13:32] {Threei} RMBS
[13:32] {Threei} .41 long
[13:32] {Threei} .29 stop
[13:50] {Threei} no worky
[14:00] {dino} fmcn stop to b/e
[14:11] {dino} good thing, fell fast
[14:16] {Threei} wow
[14:17] {Threei} watched FRE trying to determine whether it's time to short
[14:17] {Threei} when it dropped before my very eyes almost 20 cents in no time
[14:18] {kazaam} here comes oil
[14:21] {Threei} FORMER FED PRESIDENT POOLE SUGGESTS THE GSES SHOULD BE NATIONALIZED - TV INTERVIEW
[14:21] {Threei} - follows comments he made overnight that the GSE's are "insolvent" and are increasingly likely to need a bail out
[14:21] {Threei} Y
[14:21] {Threei} I
[14:21] {Threei} K
[14:21] {Threei} E
[14:21] {Threei} S
[14:21] {Threei} is this waht oil reacted to?
[14:22] {Threei} seeing nationalizing of FRE/FNM as hugely inflationary step?
[14:25] {dino} don't really know what to make of it, other than the mortgage guarantees are good
[14:25] {Threei} implications are too deep and wide
[14:25] {Threei} I wouldn't even try to analyze them on the go
[14:25] {Threei} huge new debt taken on, one side
[14:25] {Threei} motrgages salvation on another
[14:26] {Threei} jeez
[14:26] {Threei} look at USO
[14:26] {dino} iran tensions
[14:28] {Threei} are there any new news on that?
[14:28] {Threei} I don't see anything
[14:29] {dino} 1:54, oil rebounds as iran tensions flare
[14:29] {cosmo} maybe this is the day before free energy disclosure?
[14:31] {dino} cavm approaching original target
[14:31] {dino} fmcn i mean
[14:33] {dino} i was thinking on oil, last year cost me $3,600 to heat my house, this year $7,200?
[14:33] {Threei} easily
[14:33] {Threei} if not more
[14:34] {Threei} there is till time left before winter for prices to increase
[14:34] {dino} crazy, few years ago it was only $2k
[14:35] {dino} wynn lod
[14:35] {Chaeron} move near me...
[14:36] {Chaeron} turned on furnace only a few times
[14:36] {Chaeron} last winter
[14:36] {Chaeron} and not even turned on ac so far this summer :)
[14:38] {Raven} 3 switch to nat gas dino
[14:38] {dino} thinking about it raven. just signed some leases w/chesapeake
[14:39] {Raven} 3 $700 to heat my house last winter
[14:39] {Raven} 3 and we're as cold as you guys
[14:39] {Raven} 3 maybe colder
[14:39] {dino} gas?
[14:39] {Raven} 3 yup]-]
[14:39] {Chaeron} good idea Raven... seriously
[14:39] {dino} sm l wynn .00
[14:40] {Raven} 3 OIl heat is a killer
[14:40] {dino} hmmmmmmm, must lokk into this
[14:40] {dino} look
[14:41] {dino} raven, if i may ask, square footage of your house?
[14:42] {Raven} 3 about 2700 ... first floor and finished basement
[14:42] {dino} ok, ty
[14:42] {Raven} 3 very well insulated also
[14:42] {dino} you don't heat basement do you? i have radiant in the floor but don't use it in basement, always constant 64
[14:43] {Raven} 3 absolutely heat basement ... 100% .... office down here
[14:43] {dino} lol, i see
[14:44] {Raven} 3 rebuilt the whole damn house in 2000 and switched to nat gas
[14:44] {Raven} 3 windows, doors, roof , siding ... whole damn mess
[14:44] {cosmo} move to AZ while its cheap
[14:45] {Raven} 3 that is in back of my mind cosmo ... more and more
[14:45] {cosmo} :)
[14:46] {Raven} 3 trouble is ya can't give a house away in this miserable state
[14:48] {cosmo} they're all miserable...
[14:48] {Raven} 3 lol ... not like Michigan
[14:48] {Raven} 3 land of the former auto industry
[14:48] {dino} ouch
[14:49] {Raven} 3 high paid union workers with no jobs
[14:49] {Raven} 3 high taxes on business
[14:49] {Raven} 3 great environment for growth
[14:49] {cosmo} what crop?
[14:49] {dino} yeah right
[14:50] {Raven} 3 marajuana ?
[14:50] {cosmo} four more years...
[14:51] {Raven} 3 read my lips
[14:51] {dino} wynn stopped
[14:54] {Threei} end of the world is back on agenda
[14:54] {Threei} US DOD OFFICIAL: IT APPEARS IRAN LAUNCHED ONLY ONE MISSILE TODAY
[14:54] {Threei} - reminder: Iran test fired four missiles yesterday as its war games continue
[14:55] {Threei} CNBC'S BERTHA COOMBS NOTING A TECHNICAL LEVEL AT $138 WAS REACHED, SENDING CRUDE HIGHER INTO THE CLOSE
[14:55] {Threei} ahhh... it's Bertha
[14:56] {Raven} 3 Bertha baby !
[14:56] {Raven} 3 sigh
[14:57] {dino} perfer becky
[14:58] {Raven} 3 right
[14:59] {Threei} now main question is,
[15:00] {Threei} do shorts cover into close or do longs bail?
[15:01] {patience} short covering...rally starting monday
[15:01] {Threei} wow... we have optimist among us
[15:02] {patience} yes, but i thought the u.s. would lower their rate....was very hopeful, lost the bet and have to buy blueberries for someone
[15:02] {Threei} someone was very happy
[15:02] {Threei} ask me how I know
[15:02] {patience} ?
[15:03] {Threei} I saw happiness in someone's eyes when looked in the mirror
[15:03] {Chaeron} vampires don't have reflections......
[15:03] {patience} roflol
[15:03] {Threei} for other people...
[15:03] {dino} ok, do we see the classic dino rinse on wynn
[15:03] {Threei} they cansee themselves though
[15:04] {Threei} (ask me how I know)
[15:04] {Chaeron} ok ok... "How do you know that Vad?"
[15:04] {Threei} lol
[15:10] {Raven} 3 Dow switching positions as fast as Obama and McCain
[15:12] {Threei} for all this hoopla, Dow and COMP are slightly green, futs asre slightly red
[15:15] {dino} crazy summer market
[15:15] {patience} no kidding
[15:15] {Threei} first in my trading career
[15:15] {patience} where' raven, he's traded longer than us
[15:16] {Raven} 3 I are here
[15:16] {dino} darn fmcn didn't fill my 22.60 order
[15:16] {patience} when was the market last like this....
[15:17] {dino} 2000\
[15:17] {Raven} 3 never was ... all markets slightly different
[15:17] {Threei} very valuable
[15:17] {cosmo} it never changes
[15:17] {Threei} come on Raven
[15:17] {Threei} tell us... ever seen summer market as active as this?
[15:17] {Raven} 3 sure
[15:17] {cosmo} last year
[15:18] {Raven} 3 most recently in the bull of 1990's
[15:18] {Raven} 3 lotsa action in summers then
[15:19] {Threei} maybe I've forgotten... my impression is there was significant slowdown
[15:19] {Raven} 3 ya gotta go back, year by year ... and that is tedious
[15:20] {Raven} 3 I remember some summers in the 1970's when things were very active
[15:20] {Raven} 3 of course the NYSE oinly traded 10 million shares a day ... lol
[15:20] {Raven} 3 all relative
[15:21] {cosmo} all on the phone too
[15:21] {Raven} 3 rofl
[15:22] {Raven} 3 thx cosmo
[15:22] {cosmo} :)
[15:22] {Raven} 3 prolly cell phones too
[15:22] {cosmo} hmm
[15:23] {cosmo} quotrek maybe
[15:23] {cosmo} nah
[15:23] {cosmo} too soon
[15:23] {Raven} 3 this market could stand a little comedy for a change ...
[15:24] {Raven} 3 frickin' gloom gets old after a while
[15:24] {Threei} no way
[15:24] {cosmo} we need change
[15:24] {Threei} end of the world is always fun stuff
[15:25] {Threei} just remember all the fun we had with Y2K
[15:25] {Raven} 3 36000 on the DOW more fun though
[15:25] {Threei} that I'll have to agree with
[15:25] {Raven} 3 Y2K ... yes ... did we survive it ?
[15:26] {Threei} not sure
[15:26] {Raven} 3 checking
[15:26] {Threei} but the way I think of it is,
[15:26] {cosmo} not yet anyway
[15:26] {Threei} as gloomy as things are right now
[15:26] {Threei} imagine the magnitude of relief if/when we finally are out of the woods
[15:27] {Threei} market will skyrocket on relief alone
[15:27] {patience} what year are you thinking that will be vad?
[15:27] {Threei} and if we never do get out of the woods... it's the end of the world anyway, who cares
[15:27] {Threei} we will have to live off the land
[15:27] {Threei} hmmm
[15:27] {Raven} 3 ohmygod
[15:27] {cosmo} we'll always have gravity
[15:28] {Raven} 3 is that like gravy ?
[15:28] {Threei} don't know what year... but it feels tio me that whenever reversal comes, it won't be of that standard capitulation and V-bottom kind
[15:28] {Threei} rather slow grind
[15:28] {dino} think so too, people will just give up
[15:28] {Chaeron} like pulling up on the stick of an airplane in a steep dive?
[15:29] {Chaeron} and the pilot can see the whites of the eyes of that mountain goat he's about to hit?
[15:29] {Threei} lol
[15:29] {dino} hadn't really thought about that
[15:29] {Threei} plate-shaped bottom
[15:29] {Threei} if I may say so
[15:30] {Raven} 3 mountain goats ... plates ... sheesh
[15:30] {Threei} we have vivid imagination
[15:30] {Chaeron} where else you get this type of entertainment?
[15:30] {Chaeron} other than when you drink half a bottle of tequila or vodka that is
[15:31] {Raven} 3 I was thinking that
[15:32] {Threei} tepmted to short FRE
[15:32] {Chaeron} I'm ready....
[15:32] {Threei} market is locked in narrow range
[15:33] {Threei} need it to break
[15:33] {Chaeron} .87?
[15:33] {Threei} can't tell really, it's more about market move than about technical levels on a stock
[15:35] {Threei} in
[15:35] {Threei} 8.01 stop
[15:38] {Threei} come on, let's see good old-fashioned panic into close
[15:39] {Threei} who wants to own this stock overnight
[15:42] {Chaeron} thought no overnights
[15:42] {magoo} not me..done for day..TY
[15:43] {Threei} no... I mean, who would want to hold it, sell into oblivion :)
[15:47] {Threei} all this barrage of bad news followed by worse followed by worst
[15:47] {Threei} and we close flat to green
[15:48] {Threei} financials, oil spike, Irna firing something somewhere
[15:48] {Threei} oh, and Bertha
[15:49] {patience} it was a good day for fertilizers, gold and oil, i'm not complaining :)
[15:49] {Threei} not complaining either
[15:49] {Threei} just wondering... with such resilience, maybe end of the world is canceled again
[15:51] {Threei} no end of day dumping either
[15:55] {dino} yet
[15:55] {Threei} yeah, a lot can happen in 5 min these days :)
[15:57] {Threei} lol... up into close
[15:58] {magoo} good nite
[15:58] {Threei} all indices and futs green
[15:58] {Threei} take care magoo
[15:58] {Threei} OK guys, have a good evening
[15:58] {Threei} see you tomorrow
[15:59] {dino} out cavm .61 -.19
