I don't know if I am allowed to call a "nice day" one where trading was profitable but the market suffered another horrific blow. Anyway... that's how it shaped up.

 

Session Time: Thu Nov 20 00:00:00 2008

[08:09] {magoo} morning

[08:22] {Threei}  Good morning

[08:25] {magoo} vad:)

[08:43] {magoo} vad..woirking theory at this juncture/

[08:44] {Threei}  everything points out to relentless downward pressure

[08:44] {Threei}  it's just those rallies out of nopwhere that are extremely hard to pin down

[08:49] {Threei}  Berkshire Hathaway is down -40% in the past 45 days

[08:50] {Threei}  Warren Buffett is suffering too

[08:50] {wishbone} gm magoo, 3i

[08:50] {Threei}  wishbone :)

[09:00] {KSystems} Good morning!

[09:02] {Threei}  KS :)

[09:03] {Geo} gm

[09:03] {Threei}  Geo :)

[09:03] {Threei}  VNDA

[09:03] {Threei}  FDA ACCEPTS ILOPERIDONE RESUBMISSION AND SETS NEW ACTION DATE

[09:05] {lisa_jay} Good morning

[09:06] {Threei}  - The FDA has indicated that it has accepted the Complete Response for review and has set a new target action date of May 6, 2009.

[09:06] {Threei}  - Co is a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders

[09:06] {Threei}  lisa :)

[09:09] {dino} gm

[09:10] {Threei}  dino :)

[09:11] {magoo} well..vad..im worried about massive short covering spike..but lets keep short perspective open too

[09:15] {Onix} Good morning all

[09:15] {Threei}  onix :)

[09:15] {Threei}  I don't mind shorting... but have you noticed

[09:16] {Threei}  money we made on l,ong side were fast and furious,

[09:16] {Threei}  like with GS and UAUA yesterday,

[09:16] {Threei}  and any short would be torturously slow and with constant shakeouts

[09:27] {magoo} yep..

[09:31] {Threei}  watching PRU

[09:31] {dptl} good morning all

[09:32] {Threei}  to short the bounce

[09:32] {Threei}  dp :)

[09:32] {Threei}  .85 would be a breakdown

[09:32] {Threei}  16.20 closest resistance

[09:32] {magoo} care naz gpoing up

[09:32] {magoo} carefyul

[09:33] {Threei}  if go for breakdown, keep size smallish

[09:33] {Threei}  couldn't break 16 on this market upward move

[09:34] {magoo} nice  

[09:34] {Threei}  has a good shot at drop to around 15

[09:35] {Threei}  who went for it, cover half on the next leg down

[09:36] {Threei}  GS

[09:36] {Threei}  TRADES BELOW ITS 1999 IPO PRICE OF $53/SHARE

[09:36] {Threei}  US SENATOR MAJORITY LEADER REID: CONGRESSIONAL SESSION AFTER THANKSGIVING HOLIDAY COULD BE NECESSARY

[09:37] {Threei}  stop to above b/e, .90 or so

[09:38] {Threei}  and see if .50 breakdown comes and takes it closer to 15

[09:38] {Threei}  there

[09:38] {Threei}  stop to above .70

[09:41] {Threei}  die PRU

[09:41] {Threei}  50 cents and counting

[09:42] {Threei}  stop to above .50

[09:42] {Threei}  feel free to cover as you see fit

[09:42] {Threei}  I am out .25

[09:42] {Threei}  +.60

[09:42] {magoo} beauty

[09:43] {Geo} in .86 all out .19

[09:43] {Threei}  wtg

[09:43] {Geo} thanks lord vader

[09:43] {Threei}  good patience

[09:44] {Geo} hmmm not done

[09:44] {Threei}  wow, drops even more

[09:44] {Threei}  15 is almost there

[09:44] {Threei}  anyway, let's let it bounce or consolidate

[09:45] {Threei}  MET is available for shorting too

[09:45] {Threei}  a little more volatilie though

[09:45] {magoo} l q .30

[09:45] {magoo} scalp

[09:46] {Geo} coals hammerred

[09:46] {Geo} -11%

[09:46] {Threei}  what isn't

[09:48] {Threei}  UPDATE: CNN REPORTS THAT SENATE AGRICULTURE COMMITTEE CHAIRMAN TOM HARKIN PLANS TO INTRODUCE A BILL TODAY THAT WOULD COMPEL ALL OVER-THE-COUNTER DERIVATIVES, INCLUDING CREDIT DEFAULT SWAPS, ONTO REGULATED FUTURES EXCHANGES, GIVING THE CFTC SOLE REGULATORY JURISDICTION OVER CDS

[09:49] {Threei}  well, PRU continuation would be .90 break if stays under 15.10

[09:49] {Threei}  again, keep size reasonable if it triggers

[09:49] {dino} c at 5, ge 13

[09:50] {Threei}  invalidated

[09:50] {Threei}  wow, huge jump MET

[09:50] {Threei}  you out Qs magoo?

[09:51] {magoo} out q here .51+.21

[09:51] {magoo} full lot

[09:52] {Threei}  good one

[09:52] {dino} gj magoo

[09:52] {magoo} not as good as yours boss..but ty

[09:52] {Threei}  considering size, almost as good

[09:53] {Threei}  wouldn't play full lot on PRU

[09:53] {magoo} 300 sh on pru

[09:54] {Threei}  if market recovers more, UAUA formed consilidation with 8 to break

[09:56] {Threei}  C

[09:56] {Geo} kids clothes GYMB

[09:56] {Threei} Long Setup:  C  .75

[09:56] {Threei}  stop under .60

[09:57] {magoo} in

[09:57] {dawg} in

[09:59] {Threei}  what, 10 cents was all?

[10:00] {Threei}  OCT LEADING INDICATORS: -0.8% V -0.6%E

[10:00] {Threei}  NOV PHILADELPHIA FED INDEX: -39.3 V -35.0E

[10:00] {magoo} out

[10:00] {dawg} out

[10:02] {dptl} stopped c -.16

[10:05] {Threei}  (CA) CANADIAN BUDGET OFFICE: EXPECTS TO SEE SURPLUS OF C$4B IN 2008-2009

[10:05] {Threei}  that indecent

[10:06] {patience} watch, that will be used to prop up car industry in canada

[10:06] {Chaeron} good morning all... 

[10:06] {Threei}  chaeron :)

[10:07] {Chaeron} stopped out of c myself for -,07

[10:07] {Threei}  PRU woouldn't make new lows

[10:07] {Threei}  too fast

[10:08] {Threei}  was thinking .20 break but it occured before I even started typing

[10:08] {Threei}  (CA) PARLIAMENTARY BUDGET OFFICE: FORECAST C$3.9B DEFICIT FOR 2009 V SURPLUS C$4.0B IN 2008

[10:09] {Threei}  huh?

[10:09] {Threei}  they need to talk to each other more

[10:14] {magoo} long q here .11

[10:15] {dawg} in

[10:15] {magoo} .97 stop

[10:15] {dawg} ok

[10:19] {dino} sitting and waiting here

[10:20] {dino} s&p 776

[10:20] {lisa_jay} Pru broke down

[10:20] {magoo} held by .04 dawg

[10:21] {dawg} by our toenails

[10:21] {dawg} magoo

[10:21] {Chaeron} QQQQ - scalped for 0.12 (scared) in .03 out .15

[10:21] {Chaeron} shoot...

[10:21] {magoo} let it run

[10:21] {Chaeron} now it goes

[10:22] {Chaeron} hope you're still in mags

[10:22] {magoo} yup

[10:22] {Chaeron} :)

[10:23] {Threei}  same thing as yesterday

[10:23] {magoo} out here dawg

[10:23] {dawg} out

[10:23] {magoo} pullbk and well reload

[10:23] {Threei}  upward moves are fast and big

[10:23] {dawg} thanks magoo +26 wtg

[10:23] {magoo} dawgh?

[10:24] {dino} sm l mcd .80

[10:24] {magoo} gj

[10:24] {dawg} .)

[10:24] {dino} mcd stop lod

[10:24] {magoo} full lot? can do that with q

[10:25] {Threei}  HEARING DOUG KASS OF SEABREEZE PARTNERS SAYS HE IS BUYING BAC AND JPM STOCK TODAY (TIMING UNCERTAIN)

[10:25] {dawg} 400 shares magoo for me

[10:26] {magoo} ok..can do more if u keep STOPS

[10:26] {magoo} 1200 here

[10:26] {dawg} working  on increasing share size

[10:27] {dino} hearing voices in my head

[10:27] {magoo} be careful...these are  the worste of times

[10:27] {magoo} the best of times?

[10:27] {dawg} yes appreciate all the help 

[10:27] {Chaeron} what about your gut dino?

[10:28] {magoo} its still there chaer

[10:28] {dino} full of peanuts at the moment

[10:28] {Chaeron} lol

[10:28] {dino} gut say close green, but go down more first

[10:29] {dino} just seems too easy to wash 'em all out today

[10:29] {magoo} u mean gut "timing uncertain" lol

[10:29] {dino} have to "sicker in" new $

[10:29] {Threei}  lol

[10:30] {dino} sucker

[10:30] {dino} mcd $ menu must be kicking butt

[10:32] {Threei}  JASO

[10:32] {Threei}  SIGNS AGREEMENT WITH BP TO FORM LONG TERM AGREEMENT

[10:32] {Threei}  - JA Solar is expected to contribute its cost-efficient manufacturing and rapid execution capabilities, plus its access to third party silicon and/or wafers, while BP is expected to bring its access to its own silicon and/or wafer supply, provide access to its global customer portfolio

[10:32] {magoo} no one cares with gas at 2.11

[10:33] {dino} hate to agree magoo, but there are more pressing problems than oil/solar

[10:33] {dino} that just got put back another 10 years in development

[10:34] {magoo} with dollar decline..we all gonna be burning bails of US currency in our woodstoves

[10:34] {Threei}  what decline?

[10:35] {magoo} 8 ball says down

[10:37] {dino} mcd stopped -.25

[10:37] {magoo} is it possible to download video from camcorder disc to computer..wife only knows how to download from cell phone

[10:37] {Threei}  Qs pullback into .40 deserves another try

[10:38] {Geo} yup use IEEE 1394 cable (firewire)

[10:38] {Geo} most laptops have it

[10:38] {Geo} should the disc play in the computer?

[10:38] {Geo} shoudlnt

[10:38] {magoo} i have awesome mx footafge of son

[10:38] {magoo} cant get it to computer

[10:38] {Chaeron} youtube it please

[10:39] {magoo} how do i get it from disc to utube

[10:39] {Geo} hehehe chaer he needs to get it to pc first

[10:39] {Geo} if its a disk does it play in pc?

[10:39] {Threei}  don't know what that ABK spike was

[10:40] {Threei}  but it pulled bacxk substantially

[10:40] {magoo} dunno..but it plays on tv

[10:40] {magoo} as in dvd player

[10:40] {lisa_jay} is the q's puyllback still valid Vad?

[10:40] {magoo} why..u wanna come over to  my house and watch it

[10:41] {Chaeron} wish I could

[10:41] {Threei}  I think so lisa

[10:42] {Threei}  take scalp here

[10:42] {lisa_jay} :-(

[10:43] {Threei}  ABK, who went for it, take scalp here

[10:44] {Threei}  DRYS

[10:45] {Threei}  need some pullback for entry

[10:45] {dino} green

[10:45] {Threei}  OK... rally mode?

[10:46] {magoo} feels it

[10:46] {magoo} but chasing here

[10:47] {Threei}  Qs around .80

[10:47] {dino} should pull back to -80 or so

[10:48] {dino} dji i'm talking

[10:48] {Threei}  DRYS

[10:48] {Threei}  half lot around .30

[10:48] {Threei}  agh, late

[10:49] {dino} baltic dry index -6 today

[10:50] {magoo} i looking for mioore down first vad..hurt some more

[10:50] {Threei}  in .18

[10:50] {Threei}  stop under 4

[10:50] {magoo} discxourage late comers here

[10:51] {dawg} in .23

[10:51] {dino} dia sm l .55

[10:53] {dino} dia stop is .14

[10:53] {magoo} missed UAUA

[10:55] {Threei}  out DRYS .40

[10:55] {Threei}  +.22

[10:55] {dino} gj

[10:55] {dawg} out .39 +16 thanks Vad

[10:55] {Threei}  :)

[10:59] {dino} out dia .10 +.55

[11:01] {dino} afam sm l .70

[11:02] {dino} sgr l .00

[11:03] {dino} out afam .20, +.50

[11:03] {Threei}  wtg

[11:03] {dino} ty

[11:04] {Threei}  wow DRYS

[11:05] {dino} out sgr .14, +.14

[11:05] {magoo} quotes are clunky here..anyone else?

[11:05] {magoo} is volume huge today?

[11:06] {dino} i can turn vol. up magoo

[11:06] {Threei}  not really mags

[11:06] {magoo} please do

[11:06] {magoo} maga or mags he he

[11:08] {dino} hmmm, dji shoiuld drop to around -30

[11:08] {Threei}  UAUA lost its mind

[11:08] {Threei}  should pull back now

[11:08] {Threei}  watch DRYS for that telkeportation pattern

[11:08] {Threei}  did it couple times

[11:09] {Threei}  UAUA too

[11:09] {Threei}  see?

[11:09] {Threei}  to 9 and right back to 9.20

[11:10] {dino} bam -29

[11:14] {dino} missed entry, wanted dia .75

[11:17] {magoo} at least UAUA is still following naz vad

[11:17] {magoo} pattern continues

[11:17] {Threei}  yup

[11:17] {Threei}  UAW PRESIDENT GETTELFINGER HAS REPORTEDLY SCHEDULED A NEWS CONFERENCE LATER TODAY

[11:17] {Threei}  {GM F}

[11:19] {dino} uh oh

[11:19] {Threei}  DRYS again

[11:24] {Threei}  watch UAUA for scalp on NQ bounce

[11:25] {Threei}  WSJ: UAW CONFERENCE WILL REVOLVE AROUND ATTEMTPTS TO SECURE GOVT FUNDING

[11:25] {Threei}  {GM F}

[11:28] {Geo} in .71 2/3 out .92

[11:29] {Threei}  wtg

[11:29] {Threei}  that's exactly the way to play it

[11:29] {Geo} learn from the best hehehehe

[11:31] {Threei}  most likely lower low this time

[11:32] {Threei}  watch for bounce from around .60

[11:32] {Threei}  and NQ of course

[11:33] {dino} hmmm

[11:33] {dino} gj geo

[11:34] {dino} collapse coming

[11:34] {Geo} scratched last 1/3

[11:34] {Geo} Ty dino

[11:34] {dino} pins and needles

[11:37] {dino} dia sm l .35

[11:37] {Threei}  DRYS

[11:37] {Threei}  in

[11:37] {Threei}  .11

[11:38] {Threei}  UAUA .64

[11:38] {Threei}  so fast, can't post in time

[11:38] {dino} out .75, +.40

[11:38] {Geo} UAUA in .68

[11:38] {Threei}  out DRYS .24 .25

[11:39] {Threei}  out UAUA .77 .88

[11:39] {Threei}  .77 and .78

[11:39] {Threei}  both gave nice delaay for entry when NQ jumped

[11:39] {Threei}  if you watched them you could see clearly moment for entry

[11:40] {Geo} out .83 .......

[11:41] {dino} gj

[11:41] {dino} waiting for dia again at .35

[11:42] {dino} bit more fun today, huh?

[11:42] {Threei}  certainly

[11:42] {Threei}  there is some spark

[11:43] {Threei}  vs this dull bleak endless slide

[11:43] {dino} ironically, when i'm scalping i have more fun

[11:43] {Threei}  instant gratification... :)

[11:43] {Threei}  always fun

[11:44] {Threei}  that's why dp prefers vodka over beer

[11:44] {dino} i said to magoo, i'm an idiot, struggled this week because no more capits/euphoric setups, took me until now to "see" that. like banging my head against wall

[11:44] {Threei}  gratification comes faster

[11:44] {dino} sort of like a quickie

[11:45] {dino} expected patience to slap me for that

[11:45] {Threei}  I won't go there, leave you to be trouted by girls

[11:45] {dino} in any case, my edge was taken away, so back to scalps

[11:45] {Geo} i think of a quickie like a modified hug

[11:46] {dino} lol

[11:46] {Threei}  or glorified handshake

[11:46] {Geo} yup

[11:46] {Geo} just have to convince the other(s)

[11:46] {Threei}  great... now girls have three of us to slap

[11:47] {dino} :)

[11:47] {dino} thats the thing they make those purple pills for wrong sex

[11:48] {dino} back to work

[11:48] {patience} i step away for a few minutes....

[11:48] {dino} ;-)

[11:48] {Threei}  and lisa didn't hold the fortress

[11:49] {dino} sell fortress

[11:49] {dino} fig 1.94, wasn't that the ipo about a year ago around 35

[11:50] {Threei}  seriously... can you believe DRYS at 4?

[11:51] {dino} going out of business i think 3i, lots of debt, 70% of contracts expiring, and the current rates are losers

[11:52] {dino} also, doing a secondary

[11:52] {Threei}  this is incredible, how things can go so wrong so fast

[11:53] {dino} yeah, at least the 2000 top took 3 years to unwind

[11:53] {dino} we take 3 months

[11:53] {patience} we still have complete sectors to unwind....commercial real estate for example

[11:53] {dino} look kbr trades at cash

[11:53] {Threei}  no kidding

[11:53] {dino} sgr just about too

[11:54] {Threei}  scariest thing is, there are so many spots in economy that is far from being unwound

[11:54] {Threei}  how whole auto debacle is going to play out,

[11:54] {dino} i believe the problem is no financing for takeovers, so nothing gets taken out of system

[11:54] {Threei}  what about all those CDs

[11:54] {dino} cdo's?

[11:54] {Threei}  insurance contracts for BRK went up hugely

[11:55] {Threei}  yes

[11:55] {dino} ironically most are still paying, something like 5% default rate, but nobody thinks rationally

[11:55] {Threei}  there are voices that whole Buffet enterprise is under serious threat of being ruined

[11:56] {dino} if i had cash and time, i'd be buying them less than .50 on the buck

[11:56] {dino} i hear you, ge too

[11:57] {patience} my father's advice to me....spend your cash on property when the fed governmetn sell theirs to raise funds rather than taxes

[11:57] {dino} good advice

06[11:58] * patience slaps hawkfan4 around a bit with a large trout

[11:58] {patience} oops

[11:58] {patience} how did that happen

[11:58] {dino} i'll crack you up, yesterday i bid a 980 sq ft foreclosure at $55k

[11:58] {dino} the price of a nice car

[11:58] {patience} did you get it?

[11:59] {dino} no response yet, but something tells me in the low 60s i will.

[11:59] {dino} my last one sold 10/25, 5 months did 28%

[11:59] {patience} sweet

[11:59] {dino} ironically, this one will make me more %-wise

[12:00] {dino} sm l dia .35, stop .97

[12:00] {dino} too soon

[12:00] {dino} keep[ the stop

[12:02] {dino} stopped -.38

[12:04] {Threei}  wow

[12:04] {Threei}  nice drop UAUA

[12:04] {Threei}  UAW'S GETTELFINGER: URGES CONGRESS TO TAKE SOME KIND OF ACTION TO SUPPORT THE US AUTO INDUSTRY

[12:04] {Threei}  {F GM}

[12:06] {Threei}  took .04, can't ignore such tight stop

[12:06] {dino} lol, just give the companies to the union, let them run it

[12:06] {Threei}  yeah, and take jets away

[12:06] {Threei}  half out UAUA .14

[12:06] {Geo} well take good care of it

[12:06] {Threei}  out in full

[12:06] {Threei}  .21

[12:07] {dino} dia rinse

[12:07] {Threei}  anyone took UAUA?

[12:07] {Geo} late

[12:07] {Threei}  come on guys... on risk alone that was worth a try

[12:07] {Geo} was at .08

[12:07] {dawg} dawg did 

[12:07] {dino} not i

[12:07] {Threei}  whew

[12:08] {Threei}  for some reason this hoopla about jets irritates me to no end :)

[12:09] {dino} ny jets?

[12:09] {Threei}  populist nonsense, pure distraction needlesly adding to anger in emotionally charged situation

[12:09] {Threei}  no, private jets

[12:10] {dino} ohh, missed that

[12:10] {Threei}  I would never expect CEO of company of this scale to waste whole day in airports in order to get to and from meeting

[12:10] {Threei}  and particular CEO's performance has nothing to with it

[12:10] {wishbone} uaua in .10 out full .2 off q's

[12:11] {Threei}  high five wishbone

[12:11] {wishbone} ty3i

[12:11] {dino} apparently he should have, not like they have helped these companies. least they could have done was jet-pool it

[12:11] {Threei}  is high-fiving a bad taste?

[12:11] {dino} gj wishb

[12:11] {Threei}  DRYS 20 cents bounce

[12:12] {Threei}  money is easy today if you are focused

[12:12] {wishbone} ty dino

[12:12] {Threei}  and don't allow the boredom of last few days to overcome you

[12:14] {magoo} i was on phone..in anything?

[12:15] {Geo} yes in 3i's jet usage discussion

[12:15] {wishbone} should i use isld or arca for Nasdaq issues?

[12:15] {dino} oh, magoo, btw, no more limo use on weekends

[12:15] {Geo} you all are always welcome to jetpool with me.......

[12:16] {Geo} i prefer isld wishbone

[12:16] {Geo} for everything

[12:17] {wishbone} ok....my lvl 2 defaults arca.....ty geo

[12:17] {dino} thx geo

[12:18] {magoo} dont take away my ride dinooooooooooooo

[12:20] {dino} afam sm l .80

[12:22] {Threei}  (US) SENATOR BOND: A BIPARTISAN GROUP OF SENATORS HAS AGREED ON AN AUTO INDUSTRY AID PLAN

[12:22] {Threei}  - Bond, Levin, and Voinovich to hold press conference at 2:30pmET to discuss the details of the plan

[12:22] {dino} is that james bond

[12:22] {Geo} i will not be surprised if the big 3 push in socialized medicine in USA

[12:24] {dino} they are getting the $25 billion that was earmarked for hybrids/etc towards staying alive

[12:24] {dino} and yes geo, politics i'm sure

[12:24] {dino} green dji

[12:29] {Threei}  whoa

[12:29] {Threei}  F and GM

[12:30] {dino} hod dji

[12:35] {dino} well theres the 350 pt range as usual

[12:35] {wishbone} can c be shorted?

[12:36] {Threei}  availability wis\e, yes

[12:36] {wishbone} how do you know if shortable? is there a list?

[12:37] {Threei}  just try to send an order way above current price

[12:37] {Threei}  at 6

[12:37] {Threei}  and see if it goes through

[12:37] {dino} $7 million book deal palin

[12:39] {wishbone} ok....iis "rejected short selling c.....advance features not allowed" the message?

[12:40] {Threei}  you probably have hidden order

[12:40] {Threei}  which is not working in all markets

[12:41] {Threei}  turn that off and you'll get order in

[12:41] {wishbone} oh ok ty3i

[12:42] {Threei}  GM tries for break

[12:42] {Geo} lots of levis for your pleasure dino

[12:49] {dino} :)

[12:52] {lisa_jay} GM - what a breakout.

[12:53] {Threei}  not too shabby eh?

[12:53] {Geo} in .28 out .68

[12:53] {Geo} 300 shares

[12:53] {Threei}  wtg

[12:53] {lisa_jay} I did not take it though

[12:54] {Geo} sheesh all the way back

[12:54] {Threei}  in .39

[12:54] {Threei}  stop under .30

[12:55] {dawg} in .37

[12:56] {Threei}  half out .45

[12:56] {dawg} 1/2 out

[12:57] {Threei}  out full .61

[12:57] {Threei}  nice and easy

[12:58] {dawg} out in full .60

[12:58] {Threei}  first out was .55

[12:58] {Threei}  typing too fast

[12:58] {dawg} yes sir

[13:00] {Geo} in 40 all out 54... TY vad

[13:01] {Chaeron} shucks, just got back and missed all the profits...

[13:01] {dino} out afam .30, +.50

[13:01] {Geo} hey chaer

[13:01] {Threei}  chaeron :(

[13:01] {Threei}  first easy day this week

[13:02] {Chaeron} good... start a pattern... the hard days took long enough to pass.....

[13:03] {magoo} vad

[13:03] {magoo} im eating bacon here

[13:04] {Threei}  I pretend I don't care

[13:04] {magoo} key word pretend he he

[13:12] {Threei}  I am not sujre why GM and F react on this news so enthusiastically

[13:13] {dino} strange, market drops afam continues up

[13:13] {Threei}  no one seen strings attached, there could be simple bridge loan or there could be far-reaching agreement whiping out common

[13:13] {Threei}  look at GM drop

[13:13] {Threei}  it heard me?

[13:15] {Threei}  and this jump means it dismissed my musings?

[13:21] {Chaeron} think you just got taken very seriously

[13:21] {Threei}  now it reviewed them and decided they deserve considerations

[13:23] {Threei}  (US) HOUSE AIDE: THE SENATE AUTO INDUSTRY COMPROMISE AID PACKAGE WOULD BE A NON-STARTER IN THE HOUSE - CNBC

[13:23] {Threei}  {GM F}

[13:23] {Threei}  oh great

[13:24] {dawg}  10 cent scalp in C off Q's bounce thanks Vad

[13:24] {Threei}  we are back to those days of bailout-no bailout every 5 minutes

[13:24] {Threei}  I'll take the credit if you insist... but I don't remember calling it

[13:24] {dawg} sorry in UAUA got to excited 

[13:25] {Threei}  whatever... you are welcome :)

[13:25] {dawg} learning the technique from you though

[13:25] {dawg} only trading 200 shares but still exciting for me

[13:26] {Threei}  MPP describes procedure of raising share size in details

[13:26] {Threei}  follow the procedure to the letter, you'll be fine

[13:27] {dawg} i have read that and am trying to follow cool beans 

[13:30] {Threei}  CBC is discussing buy and hold

[13:30] {Threei}  negative bias

[13:30] {Threei}  I think it's a first time ever I hear that on "official TV"

[13:31] {magoo} what is this "MPP" of which u speak so fondly?

[13:32] {dawg} Master Profit Plan magoo Vad's book

[13:37] {magoo} gotcha lol

[13:38] {dawg} .)

[13:39] {dino}   i want bartriromo to say it's time to short

[13:44] {wishbone} bartriromo....?

[13:44] {Threei}  *CONGRESS WILL REPORTEDLY DELAY ACTION ON AUTO DEAL, NO ENDORSEMENT OF COMPROMISED PLAN BY LEADERS, WILL CONSIDER AUTO AID IN DECEMBER

[13:46] {wishbone} ahhhh....just googled it.......maria......don't get get cnbc here anymore

[13:46] {dino} bwishbone,  years ago, i think july 2003, she started to tell listeners it was time to learn to short. that was the ultimate low and the rally that lasted until october 2007 took place

[13:47] {Threei}  march 2003

[13:47] {Threei}  C LOBBYING LAWMAKERS, SEC TO REINSTATE SHORT SELLING BAN - WSJ

[13:47] {Threei}  sigh

[13:48] {wishbone} yeah sounds like early 2000  when all pundites said buy....

[13:49] {wishbone} least she's easy on the eyes

[13:49] {dino} lol

[13:49] {Threei}  HOUSE AND SENATE DEMOCRATS WANT THE AUTO INDUSTRY TO PRESENT A PLAN FOR HOW THEY WOULD SPEND THE $25B IN AID

[13:50] {Threei}  MTB

[13:50] {Threei}  ANNOUNCES PARTICIPATION IN TARP PROGRAM

[13:52] {Threei}  $1 scalp

[13:53] {Threei}  wow... out too soon

[13:53] {Threei}  could have $2

[13:57] {Threei}  DRYS

[13:58] {Threei}  near 4 again

[13:58] {Threei}  bounce candidate with market

[13:58] {magoo} u in drys? how about UAUA?

[13:58] {Threei}  want to see NQ starting up

[13:58] {Threei}  UAUA not sure

[13:59] {magoo} ok

[13:59] {Threei}  if .10 getting hit on DRYS

[13:59] {Threei}  big offer by NSSSX

[13:59] {Threei}  in

[13:59] {Threei}  .11

[14:00] {dawg} in 

[14:00] {magoo} in 12

[14:00] {Threei}  TREASURY'S PAULSON: BELIEVES NECESSARY STEPS HAVE BEEN TAKEN TO PREVENT A COLLAPSE, FUTHER STEPS ARE BEING TAKEN

[14:01] {Threei}  GM

[14:01] {Threei}  COMPANY MAY REPORTEDLY FACE CASH CALL FROM THREE MAJOR SUPPLIERS - UNCONFIRMED REPORT

[14:02] {Threei}  I hate this news barrage

[14:02] {Threei}  market reacts on it

[14:02] {Geo} and its tough to type it all in here

[14:03] {Threei}  distorts trades

[14:04] {Threei}  DRYS was ready to take off

[14:04] {magoo} stop?

[14:04] {Threei}  under 4

[14:06] {Threei}  TREASURY IS VIGILANT AND READY TO RESPOND

[14:06] {Threei}  - It's naive to blame crisis on the Lehman collapse.

[14:06] {Threei}  - Obama team will have to decide on the future of the GSEs.

[14:06] {Threei}  - Warns against moving too quickly on regulation in response to the crisis

[14:14] {Threei}  Reid speaking

[14:15] {Threei}  (US) SENATOR REID: NO VOTE ON AUTO INDUSTRY THIS WEEK, THE SAD REALITY IS THAT NOBODY HAS COME UP WITH A PLAN THAT CAN BE PASSED BY CONGRESS AND SIGNED BY PRESIDENT BUSH

[14:20] {Threei}  - Prepared to hold legislative session in the first week of December. Automakers will have the chance to make their case at that time.

[14:20] {Threei}  - Believes that President Bush already has the authority to provide automakers with aid under the existing TARP program.{GM F}

[14:21] {Threei}  Paulosn, Reid and Pelosi, all speaking in tunrs - can these three kill the market?

[14:22] {magoo} mkt took a hit

[14:22] {dino}   yes they can

[14:23] {dino} the do nothing congress

[14:23] {Threei}  DRYS vs 3 Mean Speakers

[14:23] {dino} again, the way i see it is it's plain and simple, yes or no, get on w.it

[14:23] {Threei}  so far DRYS is holding his own

[14:23] {magoo} with magoo financial future hanging in the balance

[14:23] {Threei}  not the way they see it...

[14:23] {dino} drys, yes holdinging its own from 115, lol

[14:24] {Threei}  for them it's yes but give us a chance to look good

[14:24] {Threei}  lol, what mean thing to say dino

[14:24] {Threei}  stock is fighting for dear life at 4

[14:24] {Threei}  and you discourage it

[14:24] {magoo} really...magoo downgrades drys from buy to mkt perform

[14:24] {dino} well, you know, magoo says i'm a mean guy

[14:25] {Threei}  and considering the source...

[14:25] {Threei}  I mean, anyone considered mean by magoo mush be pure evil

[14:25] {Threei}  woohoo - Barney Frank joined the three

[14:26] {dino} live in sin, come on in

[14:26] {Threei}  market wrapped it arms around its head, closed eyes, said "this is too much", hanged a stone on rope around its neck and jumped off the cliff

[14:28] {Threei}  Dodd and Frank are going to be instrumental

[14:28] {magoo} time to watch that movie again dino

[14:28] {Threei}  do you feel relief?

[14:28] {dino} yes magoo, nobody picked up that

[14:29] {dino} stephen king, storm of the century

[14:29] {Threei}  I love it

[14:29] {dino} live in sin....

[14:29] {magoo} give me what i want...and i will go away

[14:29] {Threei}  give me what I need and I'll go away

[14:30] {dino} this market is king's hell statement

[14:30] {dino} "hell is repetition"

[14:31] {dino} 3i, ahhh, you've seen it

[14:31] {Threei}  one of my favs

[14:33] {dino} ok, coin flip, sm l dia  .15

[14:34] {magoo} a mkt collaspe here will just destroy whats left of any wimper of hope

[14:35] {Threei}  I see glass half full

[14:35] {Threei}  market simply showed that its very willing to go up if give any slightest reason to do it

[14:36] {patience} tsx -501    good day for me though with goldcorp

[14:36] {dino} the optimist

[14:36] {dino} gj patience

[14:37] {patience} talk to me at 3:45....then i start swearing

[14:37] {Threei}  SEN LEVIN: PROPOSAL REQUIRES LONG TERM PLANS FOR AUTOMAKERS

[14:37] {dino} lol, stop by for a beer then, seems we have been having more lately

[14:38] {patience} i have quit drinking while on my diet...down 47 pounds since june 1

[14:38] {Threei}  are automakers supposed to prepare one plan or a plan for each of these talking heads?

[14:38] {dino} wow!

[14:38] {Threei}  'cause if it's just one, why they all repeat it?

[14:38] {dino} hell, 3i thats why

[14:38] {hawkfan4} holy smokes, nice job patience!

[14:39] {patience} running past ese's house....that must be what does it

[14:39] {wishbone} that's a small child patience....nice work!!!!

[14:39] {patience} ty..feels good, still want to go more

[14:39] {dino} great job

[14:40] {dino} out dia .55, +.40

[14:40] {patience} nice

[14:40] {hawkfan4} I need to get moving, signed up for the Big Sur marathon in April

[14:41] {patience} i'm doing a marathon last week of april too

[14:41] {hawkfan4} nice :)

[14:42] {dino} afam sm l .10

[14:44] {Threei}  (US) SENATOR DODD: PREPACKAGED BANKRUPTCY COULD BE ONE OPTION FOR AUTO MAKERS, THE $25B FIGURE IS A CEILING

[14:45] {Threei}  they are done I think

[14:47] {Threei}  - Auto industry executives failed to appreciate that an "unconditional bailout" was unlikely. Executives admitted no culpability for the industry's problems.

[14:47] {Threei}  ahhh... that's it

[14:47] {Threei}  they didn't sprinkle ashes on their heads

[14:47] {patience} they should have flown with the hoi poi instead of private jet

[14:48] {Threei}  I guess they would get their 25B if they walked

[14:48] {dino} already have it, was awarded in prior bill a month or so ago, but to be used to retool/hybrids/etc, they want it for whatever purposes

[14:50] {Threei}  don't you feel thisall is horribly behind the curve?

[14:50] {Geo} unusual repulsion to below 4

[14:50] {Threei}  I mean, they start making alternative fuel cars now

[14:51] {Threei}  oil stabilizes at some low levels,

[14:51] {Threei}  new cars cost seriously more

[14:51] {Threei}  people shrug and say why would we want to pay such premium

[14:51] {Threei}  and they are again losing sales

[14:52] {dino} mcd hl l .75

[14:52] {Threei}  the whole notion "they didn't build cars people wanted" doesn't ring true to me

[14:52] {Threei}  people wanted big SUVs, they built them

[14:52] {Threei}  that was most profitable and active segment

[14:54] {dino} stopped -.27 mcd

[14:56] {dino} agreed 3i

[14:56] {dino} i won't buy one, they cost 10-20k more, buy alot of gas for that

[14:56] {Geo} out

[14:56] {dino} hybrids i mean. suv's i luv, own 2

[14:58] {Threei}  I have this feeling that if something kills big 3 ultimately, it's going to be this help, lol

[15:05] {Threei}  "they are flying private jets" is now an inalienable part of all big 3 discussions

[15:05] {Threei}  media is the message...

[15:07] {Threei}  if I were in their shoes, first time I heard this "you came to beg for money", my reaction would be

[15:07] {Threei}  wrong. I don't ask for anything. I offer you a deal that is going to be good for both of us.

[15:07] {Threei}  Reject it, we both suffer.

[15:07] {Threei}  Accept it, we both win.

[15:08] {Threei}  If you insist on my self-humiliation as a condition for the deal, screw you.

[15:08] {Threei}  I walk.

[15:08] {patience} you're doing all my major purchases in future vad

[15:08] {Threei}  who pays?

[15:08] {Threei}  :)

[15:09] {Geo} i dont know vad

[15:09] {Geo} i would rather be humiliated get money and make 30 mill  a year

[15:09] {patience} ok, i'm switching to geo

[15:09] {Geo} lol

[15:09] {Threei}  you think they personally still don't have enough?

[15:09] {Threei}  heh

[15:09] {patience} did i tell you i was a blonde

[15:09] {Geo} i mean tits never enuff

[15:09] {Geo} umm its

[15:09] {Threei}  ummm

[15:10] {Threei}  lisa is probably still not here

[15:10] {patience} now that has me rolling around laughing

[15:10] {Threei}  that could be the onlty reason Geo is still unslapped

[15:10] {Geo} hey !!

[15:10] {lisa_jay} what?

[15:10] {Threei}  freudian slip eh?

[15:10] {Geo} genuine (freudian) slip

[15:10] {Threei}  scroll up, lisa :)

[15:10] {Geo} comeon vad

[15:10] {Geo} edit !!!!!

[15:11] {Threei}  no way

[15:11] {Threei}  best freudian slip I've seen in ages

[15:11] {Geo} i mean if i job description said....... make 30 mill a year get chewed out once a few yrs

[15:11] {Geo} i would take it

[15:12] {lisa_jay} lol

[15:12] {Threei}  of course, suggesting a deal I would make sure I am damn well prepared

[15:12] {Threei}  all numbers and projections are in place

[15:13] {Threei}  then it's up to them, deal in numbers or insist on idiotic "your intonation was not begging enough"

[15:14] {Threei}  oh, and if I were an owner of the company ofd this scale and CEO insisted on flying commercial from meeting to meeting, I would have fired him for utter waste of precious time

[15:17] {patience} optics of spending 20K on flight for 3 people...you can't fight it

[15:18] {KSystems} cut his wages so his time isn't precious enough anymore for commercials

[15:18] {KSystems} thats what they want to hear, huh?

[15:18] {Threei}  if that's what makes decisions now, this country goes to hell

[15:18] {patience} patience reaches for Atlas Shrugged to see which page that comment was on

[15:19] {dino} geo, lol

[15:19] {Threei}  on every page, actually :)

[15:19] {patience} true

[15:20] {muddleheaded} Vad, are you trying out any new IntellIscan alerts?

[15:20] {Threei}  not really... 14 windows is more than enough, lol

[15:20] {dino} s&p 775

[15:20] {dino} lod

[15:20] {KSystems} how many screens you have, vad?

[15:21] {Threei}  4

[15:23] {muddleheaded} So same layout for this market? Not stressing shorts?

[15:23] {patience} ok, looking at picking up some Agrium for a relief bounce

[15:24] {Threei}  there are quite a few windows for shorts in my layout

[15:24] {dino} breaking support

[15:24] {Threei}  they cover all markets

[15:24] {dino} going to 7000 imo, soon, not today, but soon

[15:25] {dino} afam stopped -.50

[15:25] {patience} tsx is down 663 points...options jerking us around

[15:28] {muddleheaded} I was just wondering if you had covered up some bullish alerts with bearish alerts thats all. 

[15:28] {Threei}  there are all of them among those 14

[15:29] {magoo} this mkt still blows

[15:29] {magoo} 233 down

[15:29] {Threei}  ah come on

[15:29] {Threei}  good day

[15:29] {magoo} not now

[15:29] {Geo} -1.5  heheheh

[15:29] {magoo} just missed 3

[15:29] {Geo} made a few mistakes

[15:30] {dino} 6 of 10

[15:30] {Geo} vad how do just take the right trades?

06[15:30] * Geo hides

[15:30] {Threei}  that's platinum membership

[15:30] {Geo} sheesh

[15:31] {Geo} the one with private jets only?

[15:31] {Threei}  right

[15:31] {dino} 3:40 bounce? hmmm

[15:31] {wishbone} vad should open up his own "Psychic friends network"

[15:31] {Threei}  lol

[15:32] {dino} -14% since fri high

[15:32] {dino} wrong

[15:32] {dino} yes

[15:33] {patience} dino, you on that network with vad?

[15:33] {Threei}  new prez must be sitting quietly in the corner hinking "why did I need to win this? can we have a muligan?"

[15:34] {Geo} they are already saying

[15:34] {Geo} forget new new deal

[15:34] {dino} lol

[15:34] {Geo} clean up the old new deal forst

[15:34] {Threei}  oil under 49

[15:35] {Geo} cux fre fnm uaw all part of old new deal

[15:35] {dino}  it's all my fault, i switched to gas in sept. from oil, and that has decimated all markets

[15:36] {dino} c 4.76

[15:37] {dino} ge hit 12.50

[15:37] {dino} ms 9

[15:39] {dino} here comes my b-day again

[15:39] {KSystems} lol

[15:39] {Threei}  BOHICA

[15:39] {dino} 550 pt range +/-

[15:40] {magoo} u dont think this mkt blows?

[15:41] {muddleheaded} Check out this guys Dow prediction for this week. So far pretty good. http://www.godlikeproductions.com/members/details.php?member=35984

[15:42] {wishbone} how to cut for pasting from Mirc?

[15:42] {dino} relentless

[15:43] {dino} [15:25] {dino} going to 7000 imo, soon, not today, but soon

[15:43] {dino} i didn't mean today

[15:43] {dino} sheesh

[15:43] {dino} only 500 to go

[15:43] {KSystems} this has to be a lot easier for someone who is completely new to this

[15:44] {dino} history in the making

[15:44] {patience} i'm with you KS....I'm hesitating pulling trigger to get agrium...

[15:44] {patience} and i know i can scalp it

[15:46] {patience} but life is short and sweet and so am i, so here we go

[15:46] {dino} wmt holds flat

[15:47] {dino} deck, wmt, apol green

[15:49] {dino} losing 8%/day lately, so in 10 days we should bottom around zero

[15:50] {dptl} have a good evening all

[15:50] {dino} u2 dp

[15:50] {Threei}  take care dp

[15:50] {KSystems} bye dp

[15:51] {dawg} another 15 cent  scalp off Q's bounce in UAUA

[15:51] {Threei}  thgings become easy when you get the pattern down eh dawg?

[15:52] {dino} gj dawg

[15:52] {dawg} yes sir and i do thank you for teaching me!

[15:52] {dawg} ty dino

[15:56] {peterg} omigod, I am checking in for the finale

06[15:57] * KSystems is listening to Orff - Carmina Burana

[15:57] {peterg} nice

[15:57] {KSystems} fits

[15:57] {Threei}  carmina buranas?

[15:57] {Threei}  try Burma Shave

[15:57] {Geo} c spike

[15:58] {Threei}  I don't see news

[15:59] {wishbone} ya geo thought about c long there....but hesitation has no destination

[15:59] {Threei}  bell brings salvation

[16:00] {patience} quick, turn off the lights

[16:00] {Threei}  turn those machines off

[16:00] {peterg} how did we do today?

[16:00] {peterg} or read log ok ok

[16:00] {Threei}  first half of the day was pure beauty

[16:01] {Threei}  then PTB opened their big mouth

[16:01] {wishbone} lol

[16:01] {peterg} pt barnum cirdcus man

[16:01] {peterg} ?

[16:01] {Threei}  and blabbed about saving us

[16:01] {Threei}  until finally dsaved into -430 DJI

[16:01] {Threei}  Powers That Be

[16:02] {peterg} ck

[16:02] {Threei}  also,

[16:02] {dino} the stability they have provided is quite amazing

[16:02] {Threei}  they so concerned about big 3 ceos flying in private jets

[16:03] {Threei}  that Boing dropped 2 and half points

[16:03] {Threei}  yep, we are pretty much stabilized by them now

[16:03] {muddleheaded} Thanks everybody, have a good night.

[16:03] {Threei}  isn't it incredible... they truly have no slightest idea what they are doing

[16:04] {Threei}  OK guys, have a good evening

[16:04] {magoo} mkt gonna be 3000 by next thurs at thuis rate

[16:04] {Threei}  see you tomorrow

[16:04] {Threei}  mags...

[16:04] {lisa_jay} thanks vad

[16:04] {Threei}  do we buy there or do we wait for zero?

[16:04] {magoo} how can it sell off everyday???

[16:05] {dino} i agree 3i, i think the traders/hedgies/funds/etc, see that we are being led by a bunch of celebrities, not knowledgable people

[16:05] {Geo} arent treasure rates the lowest ever?

[16:05] {Threei}  and that doesn't really instill confidence, eh?

[16:05] {Geo} looks like the great flight to treasuries ever

[16:06] {Threei}  In Paulson's speech today he didn't once refer to the source of the problems being he and his Wall Street colleagues who agreed to build the previous Bull on the back of a ponzi scheme called credit default swaps. At the point he departed Wall Street to join the Treasury Dept, he had to have known that there was no way for his industry to unwind those positions and that as soon as the Bears and Lehmans failed, which broke the credit ring, the game was over.

[16:07] {dino} greenspan just as much at fault too. 

[16:07] {Threei}  oh yeah

[16:07] {Geo} thats liars loker guy wrote a great article too

[16:07] {Geo} poker

[16:08] {dino} read it, thx geo, you posted it prior

[16:08] {dino} that liars poker book was good book too

[16:09] {Geo} why do i get the feeling scretly chaer has been betting against all this

[16:09] {Threei}  interesting thing to me in this day trading is,

[16:10] {Threei}  stocks go down like you need to drag them by the leash

[16:10] {Threei}  but as soon as upward impulse appears, they jump like crazy, seemongly knowing no limit

[16:10] {magoo} but vad..we hit 490 down AGAIN...

[16:10] {dino} for all of 10 minutes

[16:10] {Threei}  sure

[16:10] {Geo} like beach balls

[16:10] {Threei}  I am talking about the weay they trade

[16:11] {magoo} thats cause 100 dollar stox are 4 bux

[16:11] {Threei}  down is slow and torturous

[16:11] {patience} you don't think it isn't program trading

[16:11] {Threei}  up is fast, furious, easy

[16:11] {Geo} at this rate the program guys wont have much to trade

[16:11] {Threei}  I don't know

[16:12] {Threei}  sometimes it's easy to spot programs

[16:12] {Threei}  sometimes it's impossible

[16:12] {Threei}  easy to spot only those that work for quick scalping

[16:12] {dino} i think it's liquidations, by all, hedgies, mutual funds, individuals, pensions, etc.

[16:12] {Geo} agree dino

[16:12] {Threei}  that teleportation pattern we noticed and exploited quite a few times is certainly program trading

[16:12] {dino} insurers, banks, brokers, shall i go on?

[16:13] {Threei}  yeah dino

[16:13] {Threei}  a lot of it is forced

[16:13] {patience} i did too dino, but selling before tax cutoff day for the year, 30 days hence...thought big redemptions were done

[16:13] {Threei}  redemptions, margin calls

[16:13] {dino} my god wait until statements go out at end of month

[16:13] {Threei}  tax selling

[16:13] {magoo} good news is when market hits zero vad...odds are in our favor to go long

[16:13] {dino} they will pop it up 800 pts last two days to try and take some pain out

[16:13] {Geo} lol

[16:13] {Threei}  well mags,

[16:13] {Threei}  let's say not huge odds... but a bit more favorable than now

[16:14] {dino} i have a friend that wanted to retire next year, not happening now

[16:14] {Threei}  I am sure that's a very common situation these days

[16:14] {Threei}  (US) WHITE HOUSE SAYS THAT PRES BUSH COULD SUPPORT SENATE COMPROMISE AUTO DEAL, URGES CONGRESS TO PASS COMPROMISE AS SOON AS POSSIBLE

[16:15] {Threei}  Bush said "this sucker could go down"?

[16:18] {dino} so much for lame duck

[16:19] {dino} s&p has given back 11 years of gains

[16:23] {Threei}  payback is a b*tch

[16:25] {dino} gn all

[16:25] {Threei}  take care, see you tomorrow