Jul 11 2008
Session Time: Fri Jul 11 00:00:00 2008
[08:30] {Threei} UN IMPORT PRICE INDEX M/M: 2.6% V 2.0%E; Y/Y: 20.5% 18.6%E
[08:31] {Threei} APR TRADE BALANCE: -$59.8B V -$62.5BE
[08:31] {Threei} - Prior revised from -$60.9B to -$60.5B
[08:48] {brian3579} gm all
[08:48] {Threei} brian :)
[08:48] {Threei} [15:39] {Threei} who wants to own this stock overnight
[08:49] {Threei} that was about FNM
[08:49] {Threei} Raven... is this the end of the world this time?
[08:51] {Raven} 3 oh sure
[08:51] {Raven} 3 just another end
[08:51] {Threei} I am not even sure I am kidding this time... :)
[08:51] {cosmo} its the end of the week i think
[08:51] {Threei} I mean, looking at FNM/FRE situation,
[08:51] {Raven} 3 checking that
[08:52] {Raven} 3 you're right, cosmo :)
[08:52] {Threei} if they falter, which seems like real possibility more and more
[08:52] {cosmo} phew
[08:52] {Raven} 3 I know
[08:52] {Threei} we have two scenarios
[08:52] {Threei} Either-
[08:52] {Threei} 1. FRE and FNM face failure, and either whole system goes to the hell leaving financial pyramid in ruins and America without financing, killing the lifestyle for a middle class, chasing away well-off and taking poor to the streets with sticks and stones;
[08:52] {magoo} morning
[08:52] {Threei} or
[08:53] {Threei} magoo :)
[08:53] {Threei} 2. Goverment bails FRE/FNM out, leaving shareholders with zero, putting their GSEs on taxpayers shoulders, sending USD to the crapper, sskyrocketing oil and inflation, creating huge moral hazard
[08:53] {Threei} correct me if you see where I am wrong
[08:53] {Threei} I will be more than happy to stand corrected
[08:54] {Raven} 3 Govt will bail them out ... no choice
[08:54] {cosmo} then flea to costa rica?
[08:54] {Threei} it means oil in the sky, inflation turning into hyperinflation, probably downgrade of USA credit
[08:55] {cosmo} bananas for every meal....
[08:55] {Raven} 3 perhaps, but it'll all shake out after a couple of weeks
[08:56] {Threei} I wish I was that optimistic
[08:56] {Raven} 3 best to put in your earplugs and don't read the noise in the papers
[08:56] {Raven} 3 blahblahblah
[08:56] {Threei} lol, it's not papers
[08:57] {cosmo} wires
[08:57] {Threei} mass media if anything downplays the scalee of crisis
[08:57] {Threei} there is just one silver lining that I see
[08:57] {Threei} the amount of money invested in US is not easy to place somewhere else
[08:58] {Raven} 3 exactly
[08:58] {cosmo} don't touch that silver lining; you'll get a shock
[08:58] {Raven} 3 and the US consumer is a powerful force
[08:58] {Threei} thanks to credit
[08:58] {Raven} 3 not altogether
[08:58] {Threei} and confidence
[08:59] {Threei} both are under attack
[08:59] {Raven} 3 most people have absolutely no clue that there is any problem except the price of gas
[08:59] {Threei} that's our only hope
[08:59] {Raven} 3 (and some food)
[08:59] {Threei} crisis of perception would be a final nail
[09:01] {Threei} I don't have your perspective naturally... to me it feels like the worst crisis US faced
[09:01] {Threei} perfect storm
[09:03] {cosmo} ... not too wet; not too windy...
[09:03] {cosmo} i'm optomistic
[09:04] {Threei} send me some please
[09:04] {magoo} this may be the complete washout mkt players have been wanting looking for to signal bottom
[09:05] {cosmo} babies and bath water everywhere is the sign
[09:05] {dptl} good morning all
[09:05] {Threei} dp :)
[09:05] {magoo} was there new news vad on fre/fnm??
[09:05] {Threei} mags, having weekend ahead of us is a restraining factor
[09:06] {Threei} now many want to hold long into such weekend
[09:06] {magoo} new news this morn??
[09:06] {Threei} no real news, just volume increase on bailaout discussion
[09:06] {Threei} which leaves common stock at zero most likely
[09:06] {Raven} 3 big piece in WSJ about govt bailout of FNM, FRE
[09:06] {magoo} why would MA be up then??
[09:07] {Raven} 3 because your wife went on a spree magoo
[09:07] {Threei} 07/10/08 05:18pm [MA] Replacing ACE in the S&P500 and replace GM in S&P100; GM to remain in S&P500, effective after the close July 17
[09:08] {fernp} Good Morning??
[09:08] {Threei} hi fern... we will see :)
[09:08] {Threei} so far it looks like morning... "ggod" part is under question
[09:09] {Threei} I am probably last person you would expect to buy in doomsday scenarios... but this looks like absolute nightmare to me
[09:13] {fernp} U.S. weighs takeover of two mortgage giants - NY Times : The NY Times reports senior Bush administration officials are considering a plan to have the govt take over one or both of Fannie Mae (FNM) and Freddie Mac (FRE) and place them in a conservatorship if their problems worsen
[09:14] {GeoArb} long swiss francs then :)
[09:14] {fernp} your second scenario Vad
[09:15] {judijim} good morning all
[09:15] {GeoArb} yeah its going to be the second at the cost of the dollar :(
[09:17] {Threei} yes fern
[09:17] {Threei} hi jj
[09:19] {Threei} let's just hope Fed is not fully out of ammo and inventive enough to come up with third way
[09:19] {Threei} FRE under 4
[09:20] {Threei} let's be very careful, sensitivity to news is extraordinary
[09:21] {Threei} any soundbite can send a stock far from your entry price if you are unlucky enough to enter before news, on any side long or short
[09:21] {Threei} fade of extreme moves for scalp is probably the name of the game today
[09:24] {magoo} vad, i thought market wanted fed to intervene on those two?
[09:25] {Threei} intervene, yes, but to bail them out?
[09:25] {magoo} im confused lol
[09:25] {Threei} intervene by making them liquid and stay in the game is one thing
[09:25] {Threei} nationalize them is another
[09:29] {Threei} oil, mama mia
[09:31] {fernp} Crude oil jumps to another new record high; now +5.55 at 147.20
[09:31] {Threei} short FRE half lot .49
[09:31] {Threei} .65 stop
[09:31] {Threei} a bit late...
[09:31] {Threei} see if we get a bounce
[09:32] {magoo} was wondering if u filled
[09:32] {Threei} no
[09:32] {Threei} now I am
[09:32] {Threei} .47
[09:33] {Threei} out .21
[09:33] {Threei} anyone got it on bounce into .50?
[09:33] {magoo} missed
[09:33] {tomg} i got it, vad, ty
[09:34] {tomg} out
[09:34] {Threei} gj tom
[09:34] {Threei} a bit early exit but heck
[09:34] {tomg} out .22
[09:34] {Threei} FNM holding rather well
[09:36] {Threei} wow, nice bounce
[09:36] {Threei} I chickened out
[09:38] {Threei} 4.51 long FRE if stays above .30
[09:38] {Threei} half lot, needless to say
[09:40] {Threei} stopped
[09:42] {Threei} rinse
06[09:42] * Threei slaps laserdave1 around a bit with a large trout
[09:43] {laserdave1} the good morning slap
[09:43] {laserdave1} thought i would catch you off guard
[09:43] {Threei} you can always count on it
[09:43] {laserdave1} hmmm
[09:43] {laserdave1} guess not
[09:44] {Threei} anyone ventured for second chance?
[09:45] {Threei} PREVIEW: JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE INDEX DUE OUT AT 9:55AMET
[09:45] {Threei} **consensus expectation: 55.5e v 56.4 prior
[09:45] {Threei} *prior inflation expectations:
[09:45] {Threei} - 1 yr median inflation expectations in June at 5.1%
[09:45] {Threei} - 5 yr median inflation expectations in June at 3.4%
[09:48] {Threei} WHITE HOUSE SAYS PAULSON TO MAKE A STATEMENT ON GSES
[09:49] {Threei} looks like FNM is a guide for FRE
[09:49] {Threei} this FRE pullback is entry
[09:49] {Threei} stop under .50
[09:49] {Threei} big spike FNM
[09:50] {Threei} if you got .75 or so, feel free to take profit as you see fit
[09:52] {Threei} not sure this time
[09:53] {Threei} let's wait out michigan numbers
[09:55] {Threei} JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 56.6 V 55.5E
[09:56] {Threei} .70 long FNM
[09:56] {Threei} stop under .50
[10:02] {Threei} tough battle
[10:08] {Threei} LEH short around here
[10:08] {Threei} stop above .25
[10:09] {Threei} feel free to cover
[10:10] {Threei} another entry, stop above .30 this time
[10:11] {Threei} S&P ANALYST: A TAKEOVER OF THE GSES WOULD NOT BY ITSELF TRIGGER A DOWNGRADE OF US AAA RATING
[10:14] {Threei} not sure of entry this time
[10:16] {Threei} wowe
[10:16] {Threei} looks news-provoked
[10:16] {Threei} don't see any
[10:17] {Threei} OK, break your silence... anyone took any of these shorts?
[10:18] {Threei} I think I can go on weekend, no one talks to me anyway
[10:19] {patience} sorry vad, i didn't take the shorts. I'm just smiling because my gold plays are very happy :)
[10:19] {tomg} i was in fre long, got out when you called leh short. does that count? :)
[10:20] {Threei} why not... as long as someone noticing I am here at all {G}
[10:20] {tomg} glued to screen today, vad :))
[10:20] {Threei} can't blame you... rare action
[10:21] {Threei} FNM short with stop above .50 idea but want a bounce
[10:21] {Threei} somewhere above .20 desirably
[10:21] {tomg} made my daily on your first call, so now can relax a bit. interesting to watch battle
[10:21] {Threei} :)
[10:22] {Threei} FNM got away, no chance for entry
[10:22] {Threei} FRE however
[10:22] {Threei} .65 resistance
[10:22] {Threei} .50 break maybe worth a try
[10:23] {Threei} watch FNM for guidance
[10:25] {Threei} wow
[10:25] {Threei} out
[10:25] {Threei} US TREASURY'S PAULSON: FOCUS IS ON BACKING FRE AND FNM IN CURRENT FORM, REGULATORS IN TALKS WITH GSES
[10:25] {Threei} that's long IMO
[10:25] {Threei} in current form is key words
[10:26] {Threei} want FNM bounce
[10:26] {Threei} as close to .50 as possible
[10:27] {Threei} tried to bid .60, no chance
[10:27] {Threei} not this time
[10:27] {Threei} will lose .50
[10:28] {Threei} things change too fast to comment real time, lol
[10:29] {Threei} EQUITIES AND THE DOLLAR MOVE LOWER AFTER TREASUY SEC PAULSON'S STATEMENT PROVIDES LITTLE IF ANY DETAILS OF A SPECIFIC BAILOUT PLAN
[10:30] {Threei} MOODY'S SAYS US GOV'T DEBT WELL WITHIN AAA RANGE
[10:31] {Threei} this last round of selling is unjustified IMO
[10:32] {Threei} FRE looking for bounce
[10:33] {Threei} out if you got it
[10:33] {Threei} guys, quick traders have to grab entries as instincts guide them
[10:33] {Threei} there is no way I can alert in time
[10:34] {Threei} very liquid situation
[10:34] {Chaeron} GM all... chaos rules today I see
[10:34] {Threei} if you don't feel confident,enough for entries, paper trade
[10:34] {Threei} hi chaeron
[10:35] {Threei} I barely manage to give an idea of a trade
[10:35] {Threei} exact entry, no way
[10:36] {Threei} FNM dollar bounce
[10:38] {Threei} FNM around .50 should be another long entry
[10:39] {Threei} UPDATE: CITIGROUP COMMENTS THAT FANNIE AND FREDDIE SELL OFF IS NOT DUE TO FUNDAMENTALS; REITERATES BUY RATING
[10:41] {Threei} feel free to exit
[10:41] {Threei} +.23 for me
[10:41] {Threei} no takers?
[10:42] {Threei} sigh
06[10:42] * Threei slaps laserdave1 around a bit with a large trout
[10:42] {Threei} and while I am at it
06[10:42] * Threei slaps magoo around a bit with a large trout
06[10:43] * Chaeron slaps laserdave1 around a bit with a large trout
06[10:43] * Chaeron slaps magoo around a bit with a large trout
[10:43] {Threei} thank you chaeron
[10:44] {Threei} disconnect between FRE/FNM and LEH
06[10:44] * Chaeron slaps Threei around a bit with a large trout
[10:45] {Threei} oh great
[10:45] {Threei} I thought I had an ally... turns out he just slaps people by pure reflex {G}
[10:46] {Threei} told ya that last round of selling was unwarranted
[10:46] {tomg} out fnm 8.01 , ty vad
[10:47] {Threei} from?
[10:47] {Threei} .55 or so?
[10:47] {tomg} .62
[10:47] {Threei} :)
[10:47] {Threei} not bad for 12-15 cents original stop size
[10:48] {tomg} yep :)
[10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[10:49] {Threei} findin g entry is still not easy... pullbacks into obvious support levels is the best approach
[10:49] {Threei} much like this last pullback on FNM from 8 to 7.50
[10:49] {Threei} so lwet's try and identify them
[10:49] {Threei} 8 is closest support for FNM
[10:49] {Threei} 4.70 for FRE
[10:50] {Threei} right now more negative action on LEH than on this couple
[10:51] {Threei} how about that FNM
[10:54] {tomg} xlf resistance 18.65?
[11:00] {tomg} now support
[11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:01] {tomg} xlf long here, vad?
[11:02] {Threei} after pullback...
[11:02] {Threei} it has much narrower range
[11:02] {tomg} ok, ty
[11:03] {Threei} plus, XLF has other financials weighing on it
[11:05] {Threei} FNM at support
[11:05] {Threei} FRE is not yet
[11:07] {Threei} FNM bounced right on que
[11:07] {Threei} FNM still pulling back
[11:07] {Threei} FRE sorry
[11:08] {Threei} FRE needs to be closer to 5.10
[11:12] {Threei} in, stop under 4.90
[11:12] {Threei} got 5.03
[11:12] {Threei} right on que
[11:13] {Threei} out
[11:13] {Threei} +.24
[11:13] {Chaeron} I scalped .14 out of it.,.. thanks
[11:13] {Threei} :)
[11:13] {patience} you are having a good day vad, shows why scalping pays
[11:14] {tomg} got it vad, TY !
[11:14] {Chaeron} we're in scalping mode again here
[11:14] {Threei} tom :)
[11:14] {Threei} getting out too soon every time patience... but somehow don't feel bad about it
[11:14] {patience} not when the cash register rings time and time again
[11:15] {Threei} no
[11:15] {Threei} keeping stops tight, taking easy profits
[11:17] {magoo} back
[11:17] {Threei} you left?
[11:17] {magoo} sorry, tenant called and tree split down middle
[11:18] {Threei} ugh
[11:18] {magoo} enmergency tree removal or smashed house roof
[11:18] {Chaeron} lightning? wind?
[11:18] {Threei} missed some bonanza
[11:18] {magoo} god dammit
[11:18] {magoo} big bux
[11:18] {Chaeron} yeah mags... even I made $
[11:19] {Chaeron} easy bro... more to come... as always
[11:21] {Threei} FNM, need pullback closer to 9 now for entry
[11:22] {Threei} FRE no read here
[11:22] {magoo} ok, well, what could i do..trying to get tree guy there now...or lose roof of entire house..
[11:23] {magoo} fnd me only winners vad, ok cause i missed your earliers
[11:23] {Threei} just did
[11:25] {Threei} out .20 from .03
[11:25] {Chaeron} missed here
[11:25] {Chaeron} mags.. dcc
[11:26] {Threei} second chance worked again
[11:26] {Threei} if goes to 9 again do not take it this time
[11:28] {Threei} you caught it magooski?
[11:30] {magoo} i though yuo saids do not take it
[11:30] {magoo} sheesh
[11:30] {Threei} .20 - .30 zone support now FNM
[11:30] {Threei} I said do not take it third time
[11:31] {Threei} it hit 9 twice and bounced every time
[11:31] {Threei} third would be a breakdown
[11:31] {magoo} crap..reach in computer and push the buy/sells for me lol
[11:32] {Threei} jump right off .30
[11:32] {patience} dow below 11,000, hmmm
06[11:33] * Chaeron dusting off DOW 10K party hat...
[11:33] {Threei} wow, I didn't even notice
[11:33] {Threei} too much fun with freddie kruger and his girlfriend fannie
[11:34] {Threei} same situation repeated exactly on FNM,
[11:34] {patience} do you realize China is top foreign holder of freddie and fannie bonds
[11:34] {Threei} second bounce off ,.30 worked
[11:34] {patience} interesting times vad
[11:34] {Threei} if goes there third time do not take it
[11:35] {Threei} I hate interesting times
[11:35] {judijim} good morning all
[11:35] {Threei} jj :)
[11:36] {Threei} 5.50 FRE support now
[11:38] {Threei} FNM asiming for 10
[11:38] {patience} IndyMac halted vad?
[11:38] {Threei} .75 important level to take
[11:39] {Threei} hmm
[11:39] {Threei} no halt news
[11:39] {Threei} let me check halt website
[11:40] {Threei} nope... not listed there
[11:40] {patience} ty, sorry to interrupt
[11:40] {Threei} the price and the way it trades though, ikt could be halted just as well, lol
[11:41] {Threei} 10 FNM
[11:41] {Threei} let me reiterate:
[11:41] {Threei} [11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:42] {Threei} now I'll stop patting myself on the back to prevent severe shoulder dislocation
[11:43] {Threei} magooevsky... tell me you got it this time
[11:43] {magoo} nope ..sigh
[11:43] {Chaeron} got what? where?
[11:44] {Threei} [11:38] {Threei} FNM asiming for 10
[11:44] {Threei} [11:38] {Threei} .75 important level to take
[11:44] {Threei} [11:39] {Threei} hmm
[11:44] {Chaeron} shoot
[11:44] {Threei} you guys don't pay attention at all?
[11:44] {Chaeron} freakin' phone
[11:45] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD"
[11:46] {magoo} any read RIMM vad?
[11:46] {Threei} no
[11:50] {Threei} this pullback is probably last long ewntry for bounce
[11:50] {Threei} after that either switching to shorts or going on a sideline
[11:52] {Threei} FNM is ready
[11:52] {Threei} .81 long
[11:52] {Threei} if stays above .65
[11:53] {Threei} out
[11:55] {Chaeron} me too. thanks... in .82 out 10
[11:55] {magoo} caught that one .78 to .97
[11:55] {Chaeron} good job mags
[11:55] {Threei} whew
[11:56] {Threei} just when I decided to lock you both out of the room for ignoring me
[11:56] {Chaeron} mags, did someone just say something?
[11:56] {Threei} on second thought... I am happy to be ignored
[11:57] {Threei} carry on :)
[11:59] {magoo} no here chaer..nothing
[11:59] {magoo} BUSH on tv
[11:59] {magoo} breaking news
[12:00] {Threei} ?
[12:00] {magoo} on fre fnm
[12:00] {magoo} coming up
[12:00] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD," THE GSES ARE "IMPORTANT INSTITUTIONS"
[12:00] {Threei} - Notes that oil prices are high because demand is outstripping supply, urges congress to open new areas for oil exploration before its summer break
[12:00] {Threei} same or something new...
[12:01] {magoo} he gonna be on cnbc
[12:01] {magoo} could move markets
[12:05] {Threei} I am skipping this stage of run on FRE
[12:05] {Threei} can't read it here
[12:05] {Threei} eay money is made
[12:05] {Threei} Bush is on
[12:06] {Threei} it's the same speech I quoted earlier
[12:07] {Threei} wow... magoo, you watching?
[12:07] {Threei} heard camera clicks just now?
[12:07] {Threei} same sound we have for Laser executions :)
[12:08] {Threei} oh, I forgot, I am on ignore
[12:08] {magoo} :)
[12:09] {Threei} reluctantly:
[12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:09] {Threei} FRE closest resistance .35
[12:10] {Threei} FNM 10
[12:10] {kazaam} break of .70 on FNM?
[12:10] {Threei} no, I'd oprefer a bounce closer to resistance
[12:10] {Threei} aggressive entry
[12:10] {Threei} making stop as tight as possible
[12:11] {Threei} here are bounces
[12:11] {Threei} any spot now where you feel it turns
[12:12] {Threei} in FNM
[12:12] {Threei} .15 stop
[12:13] {Threei} got .04... 1:1 was easy but I got greedy
[12:13] {Threei} let's see if I was wrong
[12:14] {Threei} lose .90 FNM, and you are toast
[12:15] {Threei} ok, first part of the plan... now turn into toast please
[12:16] {Threei} stubborn thing
[12:16] {Threei} die already
[12:17] {Threei} over 1:1... if you are uncomfortable, cover half
[12:17] {Threei} I want to milk it for more
[12:17] {kazaam} i cover havl at now
[12:17] {Threei} ahha... good boy
[12:17] {Threei} wait... FNM is a girl
[12:17] {Threei} FRE is a boy
[12:18] {Threei} covered half .76
[12:18] {Threei} +.28
[12:18] {Threei} why didn't I short FRE btw
[12:18] {kazaam} yep yep, wish i was more aggressive like you, i didnt have my hunting cap on
[12:18] {Threei} [12:09] {Threei} FRE closest resistance .35
[12:18] {Threei} hit .30 on bounce
[12:19] {Threei} focused on FNM too much
[12:19] {Threei} bidding .55
[12:19] {Threei} FNM
[12:20] {Threei} to cover, not for long entry!
[12:20] {Threei} stop 10.01
[12:22] {Threei} stop to .81
[12:24] {Threei} direct hit
[12:24] {Threei} out +.49
[12:24] {Threei} [11:50] {Threei} this pullback is probably last long ewntry for bounce
[12:24] {Threei} [11:50] {Threei} after that either switching to shorts or going on a sideline
[12:25] {Threei} [12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:25] {Threei} did I get the best read of the month on them or what today
[12:26] {magoo} yup
[12:27] {magoo} but fate had other plans for magoo
[12:27] {Threei} argh
[12:29] {magoo} your best pirate imitation?
[12:30] {magoo} AAAARRRRRRRRRRRRR
[12:30] {Threei} hehe
[12:31] {Threei} ok guys, how are we doing today? I need some feedback, you are way too silent
[12:31] {Threei} finding your entries and exits, can't get it right, simply sleepiong... which is it?
06[12:31] * kazaam thanks vad for his only and most profitable trade all week
[12:31] {Threei} sounds good
[12:32] {Chaeron} best day I've had in a while
[12:32] {patience} terrific day vad
[12:32] {Threei} that's what I love to hear
[12:34] {magoo} im up..but not daily
[12:34] {magoo} 3 times daily yesterday {again}
[12:36] {magoo} whaaa??u ignoring me??
[12:36] {Threei} would be interesting to find out how magoo did yesterday... too bad we don't hear from him
[12:42] {magoo} aapl bounce vad??
[12:46] {Threei} can't get feel on it
[12:47] {kazaam} CEDC? I cant understand if that price action is bullish or bearish
[12:48] {Threei} mostly bullish, it's just very thin
[12:49] {Threei} FNM looks like short entry again
[12:50] {Threei} .50 closest resistance
[13:01] {Threei} anyone's in and needs guidance?
[13:08] {magoo} i am
[13:09] {Threei} price?
[13:09] {magoo} morale
[13:09] {Threei} ah
[13:09] {Threei} ok
[13:09] {Threei} thou shalt not:
[13:09] {Threei} -buy fast dropping stocks
[13:09] {Threei} -shot fast rising stocks
[13:09] {Threei} -blow one's stops
[13:10] {Threei} -double down on losing position
[13:11] {Threei} -covet neighbour's trading account
[13:12] {Threei} -worship false TV gurus
[13:12] {Threei} how's that for guidance?
[13:14] {kazaam} I am guilty, 3 out 6, where do I send money?
06[13:15] * patience slaps Threei around a bit with a large trout
[13:15] {Threei} don't bother... if those are first three, your money will be taken from you with no other action on your part
[13:15] {Chaeron} wow
[13:15] {Threei} what did I do?
[13:15] {kazaam} goodie, very effiecent system
[13:15] {Chaeron} patience... nice shot... and you don't practice even
[13:18] {magoo} practice?practice i hear?
[13:20] {Threei} tide is changing again on FRE/FNM but volume is very questionable
[13:20] {Threei} no read
06[13:21] * magoo slaps patience around a bit with a large trout
[13:22] {magoo} practicing:)
[13:22] {patience} ty magoo :)
[13:26] {patience} ok, quick change of subject for you guys....has anyone taken the train from Le Havre into Paris?
[13:27] {magoo} is that in upstate new york?
[13:27] {patience} vad, help me out here with magoo
[13:27] {Threei} easy
06[13:27] * Threei slaps magoo around a bit with a large trout
[13:27] {patience} ty
[13:27] {Threei} always
[13:28] {Threei} I guess fern is closest to that area
[13:28] {Threei} unless omnipresent Raven flies over there now and then
[13:28] {patience} ok, i guess you guys don't take the choo choo
[13:30] {GeoArb} we all will soon :)
[13:31] {Threei} lol
[13:32] {GeoArb} gm got punished for buying all railcar companies and closing them down
[13:32] {fernp} sorry, I've been in Paris but only in Disney Land
[13:32] {GeoArb} hahahahah
[13:32] {GeoArb} i have been tp paris paris
[13:32] {GeoArb} vegas
[13:40] {Raven} 3 been in Paris Kentucky
[13:40] {Chaeron} there's Perris, CA... that count?
06[13:40] * Raven slaps Chaeron around a bit with a large trout
[13:40] {Raven} 3 no
[13:40] {magoo} i live been in pennsyltuckey
[13:40] {Chaeron} lol
[13:40] {Threei} .51 FRE if holding .40
[13:45] {Chaeron} inval'd?
[13:45] {Threei} needs to consolidate agan for a few above .40
[13:47] {Chaeron} or doesn't... lol
[13:49] {magoo} out .63 vad ty
[13:50] {Threei} :)
[13:59] {magoo} way way early
[14:01] {Threei} JUNE MONTHLY BUDGET STATEMENT: $50.7B V $34.0BE
[14:12] {Chaeron} FRE green
[14:13] {Threei} whould woluld have thought
[14:18] {Threei} drop to about 7 is bounce entry for FRE
[14:19] {Threei} SENATOR DODD: KNOW THAT THE FED AND TREASURY ARE LOOKING AT OPTIONS ON GSES INCLUDING ACCESS TO THE DISCOUNT WINDOW
[14:19] {Threei} - Dodd echoes other officials saying that the GSEs are fundamentally sound, notes the majority of mortgages held by the GSEs are solid 30Y mortgages.{FNM}
[14:21] {Threei} almost ready FRE
[14:22] {Threei} first strength from here
[14:22] {Threei} got .05
[14:22] {Chaeron} .06
[14:22] {Threei} out
[14:23] {Threei} .30
[14:23] {Chaeron} .31 + 0.25 great one... thanks Vad
[14:23] {Threei} to see 7 coming when it was around 7.70 - I am a borderline genius today
[14:23] {Chaeron} IQ of 220
[14:24] {Chaeron} again?
[14:24] {Threei} most likely second time yes
[14:24] {Threei} third no
[14:24] {Threei} wait for turn first
[14:24] {Threei} no entry on price alone
[14:24] {Threei} missed
[14:24] {Threei} whatever
[14:25] {Threei} let it go
[14:25] {Chaeron} k
[14:25] {Threei} if you got it, take scalp
[14:25] {Threei} don't get stuck
[14:25] {Chaeron} nope
[14:25] {Threei} wemotions run high again
[14:37] {Threei} I don't remember my trading list for the day to be just two stocks, and the ghottest one for the day at that
[14:37] {Threei} ones
[14:42] {Threei} I'll have to leave in 20-30 minutes guys
[14:42] {Threei} anyone got any quoestions ask them NOW
[14:42] {Threei} or forever hold your peace (at least till Monay)
[14:43] {Chaeron} did you mean Monet'?
[14:43] {Threei} monday
[14:43] {Chaeron} just checking... you knnow Senator Obama told us we have to learn Spanish and French and..... so... just checking
[14:44] {magoo} was bumped opff
[14:44] {patience} french????
[14:44] {Raven} 3 oui
[14:44] {Raven} 3 si
[14:44] {patience} pourquoi
[14:45] {magoo} bookuu magoo
[14:45] {Raven} 3 just because
[14:45] {fernp} I speak a bit of spanish
[14:45] {fernp} ole
[14:45] {patience} me too : tequila
[14:46] {Raven} 3 taco?
[14:46] {Chaeron} because we are going to have Canadians demanding French
[14:46] {Chaeron} don't want them to feel left out, do we?
[14:46] {patience} if majority of canadians refuse to learn one of their officials and we are 'nice' people
[14:47] {patience} lots of luck
[14:47] {patience} we are not 'nice' people
[14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW - UNCONFIRMED REPORT
[14:47] {Threei} - note: Senator Dodd made a similar comment earlier{FRE}
[14:47] {Chaeron} I know... ask me about my ex-wife
[14:47] {patience} oh
[14:47] {GeoArb} lol
[14:48] {GeoArb} that was out of nowere
[14:48] {magoo} vad, u in next week?
[14:49] {Threei} sure
[14:50] {kazaam} why 100 points in .0005 seconds?
[14:50] {Chaeron} man... is FNM going to close green?
[14:51] {patience} good question kazaam
[14:51] {GeoArb} fnm fre got capitalized i guess
[14:54] {Raven} 3 Benny told FNM and FRE that they are eligible for discount window
[14:54] {Threei} [14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW
[14:54] {GeoArb} i guess me going to paris is going to get more expensive in dollars :(
[14:54] {Threei} anyone pays any attention to me whatsoever??? :)
[14:54] {magoo} huh??
[14:54] {GeoArb} you using white fonts vad?
[14:55] {Threei} stop using whiteout on your LCD screen
[14:56] {magoo} if mkt closes green ill cut my wrists with a banana
[14:57] {Threei} I suggest eating keyboard
[14:57] {Threei} at least some nutrition
[14:59] {magoo} jesus..this is retarded...only 76 down
[14:59] {magoo} 66
[14:59] {magoo} 59
[14:59] {Threei} Ok guys, thank you all
[14:59] {Threei} have a great relaxing weekend
[15:00] {magoo} ty vad, nice job
[15:00] {fernp} today we have seen the best Vad. Thank you for everything
[15:00] {Threei} no end of the world today but next week will bring a few more
[15:00] {Threei} thank you fern
[15:00] {Threei} see you all on Monday
[15:00] {GeoArb} ty vad
[15:00] {fernp} bye
[08:30] {Threei} UN IMPORT PRICE INDEX M/M: 2.6% V 2.0%E; Y/Y: 20.5% 18.6%E
[08:31] {Threei} APR TRADE BALANCE: -$59.8B V -$62.5BE
[08:31] {Threei} - Prior revised from -$60.9B to -$60.5B
[08:48] {brian3579} gm all
[08:48] {Threei} brian :)
[08:48] {Threei} [15:39] {Threei} who wants to own this stock overnight
[08:49] {Threei} that was about FNM
[08:49] {Threei} Raven... is this the end of the world this time?
[08:51] {Raven} 3 oh sure
[08:51] {Raven} 3 just another end
[08:51] {Threei} I am not even sure I am kidding this time... :)
[08:51] {cosmo} its the end of the week i think
[08:51] {Threei} I mean, looking at FNM/FRE situation,
[08:51] {Raven} 3 checking that
[08:52] {Raven} 3 you're right, cosmo :)
[08:52] {Threei} if they falter, which seems like real possibility more and more
[08:52] {cosmo} phew
[08:52] {Raven} 3 I know
[08:52] {Threei} we have two scenarios
[08:52] {Threei} Either-
[08:52] {Threei} 1. FRE and FNM face failure, and either whole system goes to the hell leaving financial pyramid in ruins and America without financing, killing the lifestyle for a middle class, chasing away well-off and taking poor to the streets with sticks and stones;
[08:52] {magoo} morning
[08:52] {Threei} or
[08:53] {Threei} magoo :)
[08:53] {Threei} 2. Goverment bails FRE/FNM out, leaving shareholders with zero, putting their GSEs on taxpayers shoulders, sending USD to the crapper, sskyrocketing oil and inflation, creating huge moral hazard
[08:53] {Threei} correct me if you see where I am wrong
[08:53] {Threei} I will be more than happy to stand corrected
[08:54] {Raven} 3 Govt will bail them out ... no choice
[08:54] {cosmo} then flea to costa rica?
[08:54] {Threei} it means oil in the sky, inflation turning into hyperinflation, probably downgrade of USA credit
[08:55] {cosmo} bananas for every meal....
[08:55] {Raven} 3 perhaps, but it'll all shake out after a couple of weeks
[08:56] {Threei} I wish I was that optimistic
[08:56] {Raven} 3 best to put in your earplugs and don't read the noise in the papers
[08:56] {Raven} 3 blahblahblah
[08:56] {Threei} lol, it's not papers
[08:57] {cosmo} wires
[08:57] {Threei} mass media if anything downplays the scalee of crisis
[08:57] {Threei} there is just one silver lining that I see
[08:57] {Threei} the amount of money invested in US is not easy to place somewhere else
[08:58] {Raven} 3 exactly
[08:58] {cosmo} don't touch that silver lining; you'll get a shock
[08:58] {Raven} 3 and the US consumer is a powerful force
[08:58] {Threei} thanks to credit
[08:58] {Raven} 3 not altogether
[08:58] {Threei} and confidence
[08:59] {Threei} both are under attack
[08:59] {Raven} 3 most people have absolutely no clue that there is any problem except the price of gas
[08:59] {Threei} that's our only hope
[08:59] {Raven} 3 (and some food)
[08:59] {Threei} crisis of perception would be a final nail
[09:01] {Threei} I don't have your perspective naturally... to me it feels like the worst crisis US faced
[09:01] {Threei} perfect storm
[09:03] {cosmo} ... not too wet; not too windy...
[09:03] {cosmo} i'm optomistic
[09:04] {Threei} send me some please
[09:04] {magoo} this may be the complete washout mkt players have been wanting looking for to signal bottom
[09:05] {cosmo} babies and bath water everywhere is the sign
[09:05] {dptl} good morning all
[09:05] {Threei} dp :)
[09:05] {magoo} was there new news vad on fre/fnm??
[09:05] {Threei} mags, having weekend ahead of us is a restraining factor
[09:06] {Threei} now many want to hold long into such weekend
[09:06] {magoo} new news this morn??
[09:06] {Threei} no real news, just volume increase on bailaout discussion
[09:06] {Threei} which leaves common stock at zero most likely
[09:06] {Raven} 3 big piece in WSJ about govt bailout of FNM, FRE
[09:06] {magoo} why would MA be up then??
[09:07] {Raven} 3 because your wife went on a spree magoo
[09:07] {Threei} 07/10/08 05:18pm [MA] Replacing ACE in the S&P500 and replace GM in S&P100; GM to remain in S&P500, effective after the close July 17
[09:08] {fernp} Good Morning??
[09:08] {Threei} hi fern... we will see :)
[09:08] {Threei} so far it looks like morning... "ggod" part is under question
[09:09] {Threei} I am probably last person you would expect to buy in doomsday scenarios... but this looks like absolute nightmare to me
[09:13] {fernp} U.S. weighs takeover of two mortgage giants - NY Times : The NY Times reports senior Bush administration officials are considering a plan to have the govt take over one or both of Fannie Mae (FNM) and Freddie Mac (FRE) and place them in a conservatorship if their problems worsen
[09:14] {GeoArb} long swiss francs then :)
[09:14] {fernp} your second scenario Vad
[09:15] {judijim} good morning all
[09:15] {GeoArb} yeah its going to be the second at the cost of the dollar :(
[09:17] {Threei} yes fern
[09:17] {Threei} hi jj
[09:19] {Threei} let's just hope Fed is not fully out of ammo and inventive enough to come up with third way
[09:19] {Threei} FRE under 4
[09:20] {Threei} let's be very careful, sensitivity to news is extraordinary
[09:21] {Threei} any soundbite can send a stock far from your entry price if you are unlucky enough to enter before news, on any side long or short
[09:21] {Threei} fade of extreme moves for scalp is probably the name of the game today
[09:24] {magoo} vad, i thought market wanted fed to intervene on those two?
[09:25] {Threei} intervene, yes, but to bail them out?
[09:25] {magoo} im confused lol
[09:25] {Threei} intervene by making them liquid and stay in the game is one thing
[09:25] {Threei} nationalize them is another
[09:29] {Threei} oil, mama mia
[09:31] {fernp} Crude oil jumps to another new record high; now +5.55 at 147.20
[09:31] {Threei} short FRE half lot .49
[09:31] {Threei} .65 stop
[09:31] {Threei} a bit late...
[09:31] {Threei} see if we get a bounce
[09:32] {magoo} was wondering if u filled
[09:32] {Threei} no
[09:32] {Threei} now I am
[09:32] {Threei} .47
[09:33] {Threei} out .21
[09:33] {Threei} anyone got it on bounce into .50?
[09:33] {magoo} missed
[09:33] {tomg} i got it, vad, ty
[09:34] {tomg} out
[09:34] {Threei} gj tom
[09:34] {Threei} a bit early exit but heck
[09:34] {tomg} out .22
[09:34] {Threei} FNM holding rather well
[09:36] {Threei} wow, nice bounce
[09:36] {Threei} I chickened out
[09:38] {Threei} 4.51 long FRE if stays above .30
[09:38] {Threei} half lot, needless to say
[09:40] {Threei} stopped
[09:42] {Threei} rinse
06[09:42] * Threei slaps laserdave1 around a bit with a large trout
[09:43] {laserdave1} the good morning slap
[09:43] {laserdave1} thought i would catch you off guard
[09:43] {Threei} you can always count on it
[09:43] {laserdave1} hmmm
[09:43] {laserdave1} guess not
[09:44] {Threei} anyone ventured for second chance?
[09:45] {Threei} PREVIEW: JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE INDEX DUE OUT AT 9:55AMET
[09:45] {Threei} **consensus expectation: 55.5e v 56.4 prior
[09:45] {Threei} *prior inflation expectations:
[09:45] {Threei} - 1 yr median inflation expectations in June at 5.1%
[09:45] {Threei} - 5 yr median inflation expectations in June at 3.4%
[09:48] {Threei} WHITE HOUSE SAYS PAULSON TO MAKE A STATEMENT ON GSES
[09:49] {Threei} looks like FNM is a guide for FRE
[09:49] {Threei} this FRE pullback is entry
[09:49] {Threei} stop under .50
[09:49] {Threei} big spike FNM
[09:50] {Threei} if you got .75 or so, feel free to take profit as you see fit
[09:52] {Threei} not sure this time
[09:53] {Threei} let's wait out michigan numbers
[09:55] {Threei} JULY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 56.6 V 55.5E
[09:56] {Threei} .70 long FNM
[09:56] {Threei} stop under .50
[10:02] {Threei} tough battle
[10:08] {Threei} LEH short around here
[10:08] {Threei} stop above .25
[10:09] {Threei} feel free to cover
[10:10] {Threei} another entry, stop above .30 this time
[10:11] {Threei} S&P ANALYST: A TAKEOVER OF THE GSES WOULD NOT BY ITSELF TRIGGER A DOWNGRADE OF US AAA RATING
[10:14] {Threei} not sure of entry this time
[10:16] {Threei} wowe
[10:16] {Threei} looks news-provoked
[10:16] {Threei} don't see any
[10:17] {Threei} OK, break your silence... anyone took any of these shorts?
[10:18] {Threei} I think I can go on weekend, no one talks to me anyway
[10:19] {patience} sorry vad, i didn't take the shorts. I'm just smiling because my gold plays are very happy :)
[10:19] {tomg} i was in fre long, got out when you called leh short. does that count? :)
[10:20] {Threei} why not... as long as someone noticing I am here at all {G}
[10:20] {tomg} glued to screen today, vad :))
[10:20] {Threei} can't blame you... rare action
[10:21] {Threei} FNM short with stop above .50 idea but want a bounce
[10:21] {Threei} somewhere above .20 desirably
[10:21] {tomg} made my daily on your first call, so now can relax a bit. interesting to watch battle
[10:21] {Threei} :)
[10:22] {Threei} FNM got away, no chance for entry
[10:22] {Threei} FRE however
[10:22] {Threei} .65 resistance
[10:22] {Threei} .50 break maybe worth a try
[10:23] {Threei} watch FNM for guidance
[10:25] {Threei} wow
[10:25] {Threei} out
[10:25] {Threei} US TREASURY'S PAULSON: FOCUS IS ON BACKING FRE AND FNM IN CURRENT FORM, REGULATORS IN TALKS WITH GSES
[10:25] {Threei} that's long IMO
[10:25] {Threei} in current form is key words
[10:26] {Threei} want FNM bounce
[10:26] {Threei} as close to .50 as possible
[10:27] {Threei} tried to bid .60, no chance
[10:27] {Threei} not this time
[10:27] {Threei} will lose .50
[10:28] {Threei} things change too fast to comment real time, lol
[10:29] {Threei} EQUITIES AND THE DOLLAR MOVE LOWER AFTER TREASUY SEC PAULSON'S STATEMENT PROVIDES LITTLE IF ANY DETAILS OF A SPECIFIC BAILOUT PLAN
[10:30] {Threei} MOODY'S SAYS US GOV'T DEBT WELL WITHIN AAA RANGE
[10:31] {Threei} this last round of selling is unjustified IMO
[10:32] {Threei} FRE looking for bounce
[10:33] {Threei} out if you got it
[10:33] {Threei} guys, quick traders have to grab entries as instincts guide them
[10:33] {Threei} there is no way I can alert in time
[10:34] {Threei} very liquid situation
[10:34] {Chaeron} GM all... chaos rules today I see
[10:34] {Threei} if you don't feel confident,enough for entries, paper trade
[10:34] {Threei} hi chaeron
[10:35] {Threei} I barely manage to give an idea of a trade
[10:35] {Threei} exact entry, no way
[10:36] {Threei} FNM dollar bounce
[10:38] {Threei} FNM around .50 should be another long entry
[10:39] {Threei} UPDATE: CITIGROUP COMMENTS THAT FANNIE AND FREDDIE SELL OFF IS NOT DUE TO FUNDAMENTALS; REITERATES BUY RATING
[10:41] {Threei} feel free to exit
[10:41] {Threei} +.23 for me
[10:41] {Threei} no takers?
[10:42] {Threei} sigh
06[10:42] * Threei slaps laserdave1 around a bit with a large trout
[10:42] {Threei} and while I am at it
06[10:42] * Threei slaps magoo around a bit with a large trout
06[10:43] * Chaeron slaps laserdave1 around a bit with a large trout
06[10:43] * Chaeron slaps magoo around a bit with a large trout
[10:43] {Threei} thank you chaeron
[10:44] {Threei} disconnect between FRE/FNM and LEH
06[10:44] * Chaeron slaps Threei around a bit with a large trout
[10:45] {Threei} oh great
[10:45] {Threei} I thought I had an ally... turns out he just slaps people by pure reflex {G}
[10:46] {Threei} told ya that last round of selling was unwarranted
[10:46] {tomg} out fnm 8.01 , ty vad
[10:47] {Threei} from?
[10:47] {Threei} .55 or so?
[10:47] {tomg} .62
[10:47] {Threei} :)
[10:47] {Threei} not bad for 12-15 cents original stop size
[10:48] {tomg} yep :)
[10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[10:49] {Threei} findin g entry is still not easy... pullbacks into obvious support levels is the best approach
[10:49] {Threei} much like this last pullback on FNM from 8 to 7.50
[10:49] {Threei} so lwet's try and identify them
[10:49] {Threei} 8 is closest support for FNM
[10:49] {Threei} 4.70 for FRE
[10:50] {Threei} right now more negative action on LEH than on this couple
[10:51] {Threei} how about that FNM
[10:54] {tomg} xlf resistance 18.65?
[11:00] {tomg} now support
[11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:01] {tomg} xlf long here, vad?
[11:02] {Threei} after pullback...
[11:02] {Threei} it has much narrower range
[11:02] {tomg} ok, ty
[11:03] {Threei} plus, XLF has other financials weighing on it
[11:05] {Threei} FNM at support
[11:05] {Threei} FRE is not yet
[11:07] {Threei} FNM bounced right on que
[11:07] {Threei} FNM still pulling back
[11:07] {Threei} FRE sorry
[11:08] {Threei} FRE needs to be closer to 5.10
[11:12] {Threei} in, stop under 4.90
[11:12] {Threei} got 5.03
[11:12] {Threei} right on que
[11:13] {Threei} out
[11:13] {Threei} +.24
[11:13] {Chaeron} I scalped .14 out of it.,.. thanks
[11:13] {Threei} :)
[11:13] {patience} you are having a good day vad, shows why scalping pays
[11:14] {tomg} got it vad, TY !
[11:14] {Chaeron} we're in scalping mode again here
[11:14] {Threei} tom :)
[11:14] {Threei} getting out too soon every time patience... but somehow don't feel bad about it
[11:14] {patience} not when the cash register rings time and time again
[11:15] {Threei} no
[11:15] {Threei} keeping stops tight, taking easy profits
[11:17] {magoo} back
[11:17] {Threei} you left?
[11:17] {magoo} sorry, tenant called and tree split down middle
[11:18] {Threei} ugh
[11:18] {magoo} enmergency tree removal or smashed house roof
[11:18] {Chaeron} lightning? wind?
[11:18] {Threei} missed some bonanza
[11:18] {magoo} god dammit
[11:18] {magoo} big bux
[11:18] {Chaeron} yeah mags... even I made $
[11:19] {Chaeron} easy bro... more to come... as always
[11:21] {Threei} FNM, need pullback closer to 9 now for entry
[11:22] {Threei} FRE no read here
[11:22] {magoo} ok, well, what could i do..trying to get tree guy there now...or lose roof of entire house..
[11:23] {magoo} fnd me only winners vad, ok cause i missed your earliers
[11:23] {Threei} just did
[11:25] {Threei} out .20 from .03
[11:25] {Chaeron} missed here
[11:25] {Chaeron} mags.. dcc
[11:26] {Threei} second chance worked again
[11:26] {Threei} if goes to 9 again do not take it this time
[11:28] {Threei} you caught it magooski?
[11:30] {magoo} i though yuo saids do not take it
[11:30] {magoo} sheesh
[11:30] {Threei} .20 - .30 zone support now FNM
[11:30] {Threei} I said do not take it third time
[11:31] {Threei} it hit 9 twice and bounced every time
[11:31] {Threei} third would be a breakdown
[11:31] {magoo} crap..reach in computer and push the buy/sells for me lol
[11:32] {Threei} jump right off .30
[11:32] {patience} dow below 11,000, hmmm
06[11:33] * Chaeron dusting off DOW 10K party hat...
[11:33] {Threei} wow, I didn't even notice
[11:33] {Threei} too much fun with freddie kruger and his girlfriend fannie
[11:34] {Threei} same situation repeated exactly on FNM,
[11:34] {patience} do you realize China is top foreign holder of freddie and fannie bonds
[11:34] {Threei} second bounce off ,.30 worked
[11:34] {patience} interesting times vad
[11:34] {Threei} if goes there third time do not take it
[11:35] {Threei} I hate interesting times
[11:35] {judijim} good morning all
[11:35] {Threei} jj :)
[11:36] {Threei} 5.50 FRE support now
[11:38] {Threei} FNM asiming for 10
[11:38] {patience} IndyMac halted vad?
[11:38] {Threei} .75 important level to take
[11:39] {Threei} hmm
[11:39] {Threei} no halt news
[11:39] {Threei} let me check halt website
[11:40] {Threei} nope... not listed there
[11:40] {patience} ty, sorry to interrupt
[11:40] {Threei} the price and the way it trades though, ikt could be halted just as well, lol
[11:41] {Threei} 10 FNM
[11:41] {Threei} let me reiterate:
[11:41] {Threei} [11:01] {Threei} [10:48] {Threei} I am getting strange feeling that we are going to see much bigger recovbery on this pair today
[11:42] {Threei} now I'll stop patting myself on the back to prevent severe shoulder dislocation
[11:43] {Threei} magooevsky... tell me you got it this time
[11:43] {magoo} nope ..sigh
[11:43] {Chaeron} got what? where?
[11:44] {Threei} [11:38] {Threei} FNM asiming for 10
[11:44] {Threei} [11:38] {Threei} .75 important level to take
[11:44] {Threei} [11:39] {Threei} hmm
[11:44] {Chaeron} shoot
[11:44] {Threei} you guys don't pay attention at all?
[11:44] {Chaeron} freakin' phone
[11:45] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD"
[11:46] {magoo} any read RIMM vad?
[11:46] {Threei} no
[11:50] {Threei} this pullback is probably last long ewntry for bounce
[11:50] {Threei} after that either switching to shorts or going on a sideline
[11:52] {Threei} FNM is ready
[11:52] {Threei} .81 long
[11:52] {Threei} if stays above .65
[11:53] {Threei} out
[11:55] {Chaeron} me too. thanks... in .82 out 10
[11:55] {magoo} caught that one .78 to .97
[11:55] {Chaeron} good job mags
[11:55] {Threei} whew
[11:56] {Threei} just when I decided to lock you both out of the room for ignoring me
[11:56] {Chaeron} mags, did someone just say something?
[11:56] {Threei} on second thought... I am happy to be ignored
[11:57] {Threei} carry on :)
[11:59] {magoo} no here chaer..nothing
[11:59] {magoo} BUSH on tv
[11:59] {magoo} breaking news
[12:00] {Threei} ?
[12:00] {magoo} on fre fnm
[12:00] {magoo} coming up
[12:00] {Threei} PRESIDENT BUSH: REGARDING THE GSES, PAULSON AND BERNANKE ARE "WORKING THIS ISSUE VERY HARD," THE GSES ARE "IMPORTANT INSTITUTIONS"
[12:00] {Threei} - Notes that oil prices are high because demand is outstripping supply, urges congress to open new areas for oil exploration before its summer break
[12:00] {Threei} same or something new...
[12:01] {magoo} he gonna be on cnbc
[12:01] {magoo} could move markets
[12:05] {Threei} I am skipping this stage of run on FRE
[12:05] {Threei} can't read it here
[12:05] {Threei} eay money is made
[12:05] {Threei} Bush is on
[12:06] {Threei} it's the same speech I quoted earlier
[12:07] {Threei} wow... magoo, you watching?
[12:07] {Threei} heard camera clicks just now?
[12:07] {Threei} same sound we have for Laser executions :)
[12:08] {Threei} oh, I forgot, I am on ignore
[12:08] {magoo} :)
[12:09] {Threei} reluctantly:
[12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:09] {Threei} FRE closest resistance .35
[12:10] {Threei} FNM 10
[12:10] {kazaam} break of .70 on FNM?
[12:10] {Threei} no, I'd oprefer a bounce closer to resistance
[12:10] {Threei} aggressive entry
[12:10] {Threei} making stop as tight as possible
[12:11] {Threei} here are bounces
[12:11] {Threei} any spot now where you feel it turns
[12:12] {Threei} in FNM
[12:12] {Threei} .15 stop
[12:13] {Threei} got .04... 1:1 was easy but I got greedy
[12:13] {Threei} let's see if I was wrong
[12:14] {Threei} lose .90 FNM, and you are toast
[12:15] {Threei} ok, first part of the plan... now turn into toast please
[12:16] {Threei} stubborn thing
[12:16] {Threei} die already
[12:17] {Threei} over 1:1... if you are uncomfortable, cover half
[12:17] {Threei} I want to milk it for more
[12:17] {kazaam} i cover havl at now
[12:17] {Threei} ahha... good boy
[12:17] {Threei} wait... FNM is a girl
[12:17] {Threei} FRE is a boy
[12:18] {Threei} covered half .76
[12:18] {Threei} +.28
[12:18] {Threei} why didn't I short FRE btw
[12:18] {kazaam} yep yep, wish i was more aggressive like you, i didnt have my hunting cap on
[12:18] {Threei} [12:09] {Threei} FRE closest resistance .35
[12:18] {Threei} hit .30 on bounce
[12:19] {Threei} focused on FNM too much
[12:19] {Threei} bidding .55
[12:19] {Threei} FNM
[12:20] {Threei} to cover, not for long entry!
[12:20] {Threei} stop 10.01
[12:22] {Threei} stop to .81
[12:24] {Threei} direct hit
[12:24] {Threei} out +.49
[12:24] {Threei} [11:50] {Threei} this pullback is probably last long ewntry for bounce
[12:24] {Threei} [11:50] {Threei} after that either switching to shorts or going on a sideline
[12:25] {Threei} [12:09] {Threei} looks like time to switch to short side on this unholy couple
[12:25] {Threei} did I get the best read of the month on them or what today
[12:26] {magoo} yup
[12:27] {magoo} but fate had other plans for magoo
[12:27] {Threei} argh
[12:29] {magoo} your best pirate imitation?
[12:30] {magoo} AAAARRRRRRRRRRRRR
[12:30] {Threei} hehe
[12:31] {Threei} ok guys, how are we doing today? I need some feedback, you are way too silent
[12:31] {Threei} finding your entries and exits, can't get it right, simply sleepiong... which is it?
06[12:31] * kazaam thanks vad for his only and most profitable trade all week
[12:31] {Threei} sounds good
[12:32] {Chaeron} best day I've had in a while
[12:32] {patience} terrific day vad
[12:32] {Threei} that's what I love to hear
[12:34] {magoo} im up..but not daily
[12:34] {magoo} 3 times daily yesterday {again}
[12:36] {magoo} whaaa??u ignoring me??
[12:36] {Threei} would be interesting to find out how magoo did yesterday... too bad we don't hear from him
[12:42] {magoo} aapl bounce vad??
[12:46] {Threei} can't get feel on it
[12:47] {kazaam} CEDC? I cant understand if that price action is bullish or bearish
[12:48] {Threei} mostly bullish, it's just very thin
[12:49] {Threei} FNM looks like short entry again
[12:50] {Threei} .50 closest resistance
[13:01] {Threei} anyone's in and needs guidance?
[13:08] {magoo} i am
[13:09] {Threei} price?
[13:09] {magoo} morale
[13:09] {Threei} ah
[13:09] {Threei} ok
[13:09] {Threei} thou shalt not:
[13:09] {Threei} -buy fast dropping stocks
[13:09] {Threei} -shot fast rising stocks
[13:09] {Threei} -blow one's stops
[13:10] {Threei} -double down on losing position
[13:11] {Threei} -covet neighbour's trading account
[13:12] {Threei} -worship false TV gurus
[13:12] {Threei} how's that for guidance?
[13:14] {kazaam} I am guilty, 3 out 6, where do I send money?
06[13:15] * patience slaps Threei around a bit with a large trout
[13:15] {Threei} don't bother... if those are first three, your money will be taken from you with no other action on your part
[13:15] {Chaeron} wow
[13:15] {Threei} what did I do?
[13:15] {kazaam} goodie, very effiecent system
[13:15] {Chaeron} patience... nice shot... and you don't practice even
[13:18] {magoo} practice?practice i hear?
[13:20] {Threei} tide is changing again on FRE/FNM but volume is very questionable
[13:20] {Threei} no read
06[13:21] * magoo slaps patience around a bit with a large trout
[13:22] {magoo} practicing:)
[13:22] {patience} ty magoo :)
[13:26] {patience} ok, quick change of subject for you guys....has anyone taken the train from Le Havre into Paris?
[13:27] {magoo} is that in upstate new york?
[13:27] {patience} vad, help me out here with magoo
[13:27] {Threei} easy
06[13:27] * Threei slaps magoo around a bit with a large trout
[13:27] {patience} ty
[13:27] {Threei} always
[13:28] {Threei} I guess fern is closest to that area
[13:28] {Threei} unless omnipresent Raven flies over there now and then
[13:28] {patience} ok, i guess you guys don't take the choo choo
[13:30] {GeoArb} we all will soon :)
[13:31] {Threei} lol
[13:32] {GeoArb} gm got punished for buying all railcar companies and closing them down
[13:32] {fernp} sorry, I've been in Paris but only in Disney Land
[13:32] {GeoArb} hahahahah
[13:32] {GeoArb} i have been tp paris paris
[13:32] {GeoArb} vegas
[13:40] {Raven} 3 been in Paris Kentucky
[13:40] {Chaeron} there's Perris, CA... that count?
06[13:40] * Raven slaps Chaeron around a bit with a large trout
[13:40] {Raven} 3 no
[13:40] {magoo} i live been in pennsyltuckey
[13:40] {Chaeron} lol
[13:40] {Threei} .51 FRE if holding .40
[13:45] {Chaeron} inval'd?
[13:45] {Threei} needs to consolidate agan for a few above .40
[13:47] {Chaeron} or doesn't... lol
[13:49] {magoo} out .63 vad ty
[13:50] {Threei} :)
[13:59] {magoo} way way early
[14:01] {Threei} JUNE MONTHLY BUDGET STATEMENT: $50.7B V $34.0BE
[14:12] {Chaeron} FRE green
[14:13] {Threei} whould woluld have thought
[14:18] {Threei} drop to about 7 is bounce entry for FRE
[14:19] {Threei} SENATOR DODD: KNOW THAT THE FED AND TREASURY ARE LOOKING AT OPTIONS ON GSES INCLUDING ACCESS TO THE DISCOUNT WINDOW
[14:19] {Threei} - Dodd echoes other officials saying that the GSEs are fundamentally sound, notes the majority of mortgages held by the GSEs are solid 30Y mortgages.{FNM}
[14:21] {Threei} almost ready FRE
[14:22] {Threei} first strength from here
[14:22] {Threei} got .05
[14:22] {Chaeron} .06
[14:22] {Threei} out
[14:23] {Threei} .30
[14:23] {Chaeron} .31 + 0.25 great one... thanks Vad
[14:23] {Threei} to see 7 coming when it was around 7.70 - I am a borderline genius today
[14:23] {Chaeron} IQ of 220
[14:24] {Chaeron} again?
[14:24] {Threei} most likely second time yes
[14:24] {Threei} third no
[14:24] {Threei} wait for turn first
[14:24] {Threei} no entry on price alone
[14:24] {Threei} missed
[14:24] {Threei} whatever
[14:25] {Threei} let it go
[14:25] {Chaeron} k
[14:25] {Threei} if you got it, take scalp
[14:25] {Threei} don't get stuck
[14:25] {Chaeron} nope
[14:25] {Threei} wemotions run high again
[14:37] {Threei} I don't remember my trading list for the day to be just two stocks, and the ghottest one for the day at that
[14:37] {Threei} ones
[14:42] {Threei} I'll have to leave in 20-30 minutes guys
[14:42] {Threei} anyone got any quoestions ask them NOW
[14:42] {Threei} or forever hold your peace (at least till Monay)
[14:43] {Chaeron} did you mean Monet'?
[14:43] {Threei} monday
[14:43] {Chaeron} just checking... you knnow Senator Obama told us we have to learn Spanish and French and..... so... just checking
[14:44] {magoo} was bumped opff
[14:44] {patience} french????
[14:44] {Raven} 3 oui
[14:44] {Raven} 3 si
[14:44] {patience} pourquoi
[14:45] {magoo} bookuu magoo
[14:45] {Raven} 3 just because
[14:45] {fernp} I speak a bit of spanish
[14:45] {fernp} ole
[14:45] {patience} me too : tequila
[14:46] {Raven} 3 taco?
[14:46] {Chaeron} because we are going to have Canadians demanding French
[14:46] {Chaeron} don't want them to feel left out, do we?
[14:46] {patience} if majority of canadians refuse to learn one of their officials and we are 'nice' people
[14:47] {patience} lots of luck
[14:47] {patience} we are not 'nice' people
[14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW - UNCONFIRMED REPORT
[14:47] {Threei} - note: Senator Dodd made a similar comment earlier{FRE}
[14:47] {Chaeron} I know... ask me about my ex-wife
[14:47] {patience} oh
[14:47] {GeoArb} lol
[14:48] {GeoArb} that was out of nowere
[14:48] {magoo} vad, u in next week?
[14:49] {Threei} sure
[14:50] {kazaam} why 100 points in .0005 seconds?
[14:50] {Chaeron} man... is FNM going to close green?
[14:51] {patience} good question kazaam
[14:51] {GeoArb} fnm fre got capitalized i guess
[14:54] {Raven} 3 Benny told FNM and FRE that they are eligible for discount window
[14:54] {Threei} [14:47] {Threei} FED'S BERNANKE HAS REPORTEDLY TOLD A GSE CHIEF THAT FRE AND FNM COULD BE GIVEN ACCESS TO THE DISCOUNT WINDOW
[14:54] {GeoArb} i guess me going to paris is going to get more expensive in dollars :(
[14:54] {Threei} anyone pays any attention to me whatsoever??? :)
[14:54] {magoo} huh??
[14:54] {GeoArb} you using white fonts vad?
[14:55] {Threei} stop using whiteout on your LCD screen
[14:56] {magoo} if mkt closes green ill cut my wrists with a banana
[14:57] {Threei} I suggest eating keyboard
[14:57] {Threei} at least some nutrition
[14:59] {magoo} jesus..this is retarded...only 76 down
[14:59] {magoo} 66
[14:59] {magoo} 59
[14:59] {Threei} Ok guys, thank you all
[14:59] {Threei} have a great relaxing weekend
[15:00] {magoo} ty vad, nice job
[15:00] {fernp} today we have seen the best Vad. Thank you for everything
[15:00] {Threei} no end of the world today but next week will bring a few more
[15:00] {Threei} thank you fern
[15:00] {Threei} see you all on Monday
[15:00] {GeoArb} ty vad
[15:00] {fernp} bye
