Nov 11 2008

A bit more interesting day. Couple nice trades, plus some scalps... still nothing outstanding but a little more life overall.                                                                                                                   

Session Time: Tue Nov 11 00:00:00 2008

[08:13] {Threei}  11/10/08 04:02pm

[08:13] {Threei}  [SGMO] Sangamo Biosciences Inc Halted; Releases results from diabetic neuropathy trial SB-509-601

[08:13] {Threei}  - The data demonstrate that repeat administration of the drug is well tolerated in subjects with mild to moderate DN. However, no significant differences were observed between the SB-509 and placebo treated subjects in a number of measures of nerve function and health at the primary analysis point, day 180 post-treatment.

[08:25] {Threei}  CAAS

[08:25] {Threei}  ANNOUNCES FIRST PURCHASE ORDER FROM A GLOBAL NORTH AMERICAN AUTOMOTIVE MANUFACTURER

[08:25] {Threei}  -China Automotive Systems a power steering components and systems supplier in China, today announced it has received its initial purchase order for power steering gears from a global automotive manufacturer headquartered in North America. This first purchase order is part of an agreement to supply power steering gears to this automotive manufacturer.

[08:25] {Threei}  -CAAS notes this agreement represents a major milestone as it is the first contract for China Automotive Systems in the North American original equipment manufacturer (OEM) market.

[08:35] {_maga} good morning all

[08:36] {Threei}  morning maga

[08:38] {Threei}  MER CEO THAIN: "CAUTIOUSLY OPTIMISTIC" THAT THINGS ARE BEGINNING TO IMPROVE IN FINANCIAL SECTOR; US ECONOMY IS CONTRACTING RAPIDLY

[08:38] {Threei}  - Notes it will be a slow process

[08:38] {Threei}  - Says housing prices are continuing to drop, asset prices still falling

[08:42] {lisa_jay} Hi Vad.

[08:42] {magoo} morning

[08:42] {Threei}  lisa :)

[08:42] {Threei}  magoo :)

[08:42] {lisa_jay} Hey Magoo.

[08:44] {KSystems} Good morning

[08:44] {Threei}  ks :)

[08:44] {KSystems} Hey Vad...slept well?

[08:45] {Threei}  yes thank you... why?

[08:46] {KSystems} er

[08:46] {KSystems} just chit-chatting

[08:46] {KSystems} this is embarassing...asking "why" on such a question :-}

[08:46] {Threei}  ah... well, forgive me for not catching on that - not many want to chit-chat with me without strong necesity :()

[08:48] {lisa_jay} Hey...not true.

[08:48] {KSystems} see, you've got friends

[08:48] {lisa_jay} How was the coffee Vad? :-)

[08:49] {Threei}  wow... shapes up as an unusually good morning :)

[08:49] {KSystems} *shush* you must ask "Why" now

[08:50] {Threei}  no, I already got the trend: europians and women are merciful on me, to the degree where they are willing to create an illusion they actually want to chat with me :)

[08:50] {KSystems} on the other hand when I tried to make coffee this morning I found out that I ran out of milk and THAT makes me kinda aggressive usually

[08:51] {Threei}  milk? in coffee?

[08:51] {Threei}  what kind of perversion is that

[08:51] {Threei}  decadent Europe....

[08:51] {KSystems} european perversion, aka the Ultimate Definition of Coffee(tm) is the Cappuchino

[08:51] {Threei}  bunch of weirdos :)

[08:52] {KSystems} Lisa, you like Cappuchino?

06[08:52] * Threei prepares to kick out of the room any male who confesses he likes coffee-latte

[08:53] {KSystems} they havent waken up yet

[08:53] {KSystems} a=o

[08:54] {lisa_jay} Not a big coffee person...like Tea

[08:55] {hawkfan4} I'm partial to Cap's brother, Al

06[08:55] * Threei proudly announces he takes his coffee black, no milk, no sugar, no cream... and he fished his own supper yesterday

[08:55] {KSystems} well thank you very much

[08:55] {Threei}  lisa... they say oolong kind is even more effective than coffee as an awakener

[08:56] {lisa_jay} Should try it.

06[08:56] * magoo slaps Threei around a bit with a large trout

[08:57] {Threei}  they also say trout beats tem both

[08:58] {KSystems} I should try squeezing some trout into the coffee

[08:59] {Onix} Good morning all 

[08:59] {Threei}  onix :)

[08:59] {Threei}  oh boy

[08:59] {Threei}  I have too vivid imagination ks

[08:59] {Threei}  coffee with fish taste/smell

[08:59] {Threei}  wait for me to be done retching

[09:01] {Threei}  UPS

[09:01] {Threei}  REPORTS Q3 $0.08 V $0.14 Y/Y, R $30.6M V $29.8M

[09:07] {brian3579} gm all

[09:07] {Threei}  brian :)

[09:08] {magoo} vad, u watching FMCN?

[09:09] {Threei}  11/10/08 04:15pm

[09:09] {Threei}  [FMCN] Focus Media Holding Reports Q3 $0.53 v $0.53e, R $224.8M v $232Me

[09:09] {Threei}  - Guides Q4 EPS $0.45-0.46 v $0.57e, R $190-200M v $248Me

[09:09] {Threei}  and three downgrades this morning

[09:10] {dino} gm all

[09:10] {dptl} good morning all

[09:10] {Threei}  dino :)

[09:10] {Threei}  dp :)

[09:11] {Threei}  worth watching for sure

[09:11] {Geo} gm all

[09:11] {Threei}  geo :)

[09:12] {Threei}  REPORTEDLY OPEC MAY CUT OUTPUT BY A FUTHER 1M BPD AT DEC MEETING DUE TO SLOWING DEMAND - UNCONFIRMED REPORT

[09:13] {dino} coffe, black and bitter for me

[09:13] {dino} coffee

06[09:13] * Threei high-fives dino

[09:14] {Threei}  oil under 60

[09:14] {dino} bitter, you know, like my women

[09:15] {Geo} hehe and a gm to you dino

[09:16] {dino} :)

[09:16] {Threei}  poor JASO

[09:18] {dino} pru blood14 points since fri high

[09:19] {Threei}  *TED SPREAD AT 175BPS V 195BPS PRIOR, 3M USD LIBOR/OIS SPREAD AT 168 BPS V 170BPS PRIOR

[09:19] {Threei}  quite low

[09:21] {dino} should be .50 i believe

[09:22] {Threei}  well... after it's been in 400 area, 175 looks good, doesn't it :)

[09:23] {dino} indeed, the .50 is "normal" times

[09:23] {Onix} even with it so low, the banks do't seem to be lending yet?

[09:24] {Threei}  who knows for sure... they say some thaw is taking place, and expect noticeable imp[rovement around 140

[09:24] {Threei}  and lower

[09:25] {Onix} how many billion more do they need before they start lending?

[09:25] {Threei}  good question

[09:25] {Threei}  first trillion is tough... after that it's easier

[09:25] {Onix} lol

[09:26] {Threei}  my plan for STEM swing:

[09:26] {Threei}  stop for first portion is under 1.90,

[09:26] {Threei}  adding second portion on 2.30 break,

[09:26] {Threei}  adding third and last portion on 2.50 break

[09:27] {Threei}  if it goes for all those breaks, trailing the stop will be a matter of forming new support levels

[09:28] {Geo} missed you entry vad?

[09:28] {Geo} your

[09:28] {Threei}  yesterday, 2.16

[09:28] {Geo} ty

[09:28] {Threei}  feels under nice accumulation to me

[09:28] {Threei}  poor LVS

[09:29] {Threei}  ANNOUNCES PRICING OF OFFERING OF COMMON STOCK, PREFERRED STOCK AND WARRANTS

[09:29] {Threei}  - Pricing of its public offering of 181,818,182 shares of common stock (50% of shares oustanding), 5,196,300 shares of its 10% Series A Cumulative Perpetual Preferred Stock and warrants to purchase an aggregate of approximately 86,605,173 shares of common stock at an exercise price of $6.00/shr

[09:29] {Threei}  - The common stock has a public offering price of $5.50/shr

[09:30] {Threei}  FMCN little panic

[09:30] {Threei}  OK{ not so little

[09:31] {dino} ouch fmcn

[09:33] {dino} gap 8696

[09:33] {dino} from 11-6/7

[09:34] {dino} filled

[09:35] {dino} all i have now are above

[09:35] {Threei} Long Setup:  FMCN  9.15 break half lot, stop under 8.90

[09:35] {magoo} in .11

[09:36] {dino} :) same thoughts

[09:36] {dptl} in .15

[09:36] {dino} .10

[09:37] {dino} stop .63

[09:37] {dino} goal 1.00

[09:37] {dawg} in .03

[09:38] {Threei}  takes a bit too long for my taste... hopefully holds 9

[09:38] {magoo} agrree

[09:39] {dino} hard stop, moving on 

[09:39] {Threei}  holding 9 and breaking 9.20 should launch serious recovery attempt

[09:39] {magoo} if mkkt helps

[09:40] {peterg} morning all

[09:40] {Threei}  peter :)

[09:40] {Chaeron} Good morning all... 

[09:40] {Threei}  chaeron :)

[09:40] {Onix} in @ .15

[09:41] {dino} ?what is market help? lol

[09:41] {Chaeron} in FMCN .12

[09:42] {Threei}  honestly trying... market is not very helpful though but given the circumstances FMCN is doing what it can

[09:42] {dino} 8637 dji lows last week fwiw

[09:42] {Threei}  good boy

[09:42] {Threei}  no go

[09:43] {Threei}  and never look back

[09:43] {Chaeron} no go?

[09:43] {lisa_jay} targets vad?

[09:43] {Geo} lol

[09:43] {Threei}  no = now

[09:43] {Chaeron} don't skeer me

[09:43] {dawg} out 1/2 1:2 FMCN

[09:43] {Threei}  first partial or scalp around .40 - .50 lisa

[09:44] {lisa_jay} thanks vad

[09:44] {Threei}  stop can be trailed to under 9

[09:44] {Threei}  held it beautifully

[09:44] {Threei}  half out .44

[09:44] {magoo} i like to see it take 10

[09:45] {dptl} half .40

[09:45] {Onix} out +.32 ty Vad

[09:45] {Threei}  welcome

[09:46] {dino} fmcn tear down that wall

[09:46] {Threei}  if takes .50 now, stop can be trailed to .15

[09:46] {dawg} out .49 last half thank you Vad +46

[09:46] {Threei}  dawg :)

[09:47] {Threei}  little fighter

[09:47] {dino} stop to .55

[09:47] {dino} out .57, +.47 too tight

[09:47] {Threei}  tough read from here guys, leaving ultimate exit to your discretion

[09:48] {lisa_jay} 42c thanks Vad...only took 100 shares.  

[09:48] {Threei}  out .70

[09:48] {dptl} out some more .64...holding last 100 shares........ty Vad

[09:48] {Threei}  lisa :)

[09:48] {Threei}  good job guys

[09:48] {Threei}  and thanks to magoo for bringing it to attention

[09:48] {lisa_jay} I am learning to hold on longer.

[09:48] {lisa_jay} Thanks Magoo.

[09:49] {dino} gj

[09:49] {Threei}  lisa... just don't make it blanket rule

[09:49] {Chaeron} out .71 +$0.59 - great one Vad. Thanks

[09:49] {Threei}  there is time for everytyhing

[09:49] {lisa_jay} Ok.

[09:49] {Threei}  as ese would say... Ch, baby!

[09:49] {Chaeron} lol

[09:51] {dino} uh oh, broke last weeks low

[09:51] {Threei}  I am trying not to watch dino :)

[09:51] {Threei}  hmmm... none of three victorians here

[09:52] {Threei}  am I the only one who is working on this damn island?

[09:52] {dino} would seem that way

[09:53] {Chaeron} ...slackers

[09:54] {Chaeron} hig

[09:55] {dptl} all out now..fmcn :)

[09:56] {Threei}  laser users, do charts load quickly for you?

[09:57] {Onix} yes

[09:57] {Threei}  my connection then

[09:57] {Threei}  ty

[09:58] {magoo} yup

[10:00] {Threei}  CFTC CHAIRMAN TO RETIRE SOON

[10:00] {Threei}  great... now they all retire and we are left in the wake of their mess

[10:04] {magoo} FMCN held 9 well

[10:05] {magoo} as a speak

[10:05] {magoo} sheesh

[10:05] {Threei} Short Setup: UAUA  .80 if stays under .90

[10:09] {dino} gm plan at 2:00

[10:10] {Threei}  CFTC CHAIRMAN: CALLS FOR "MAJOR REGULATORY OVERHAUL," US NEEDS "OBJECTIVES-BASED" REGULATION, ANNOUNCES INTENT TO RETIRE SHORTLY

[10:10] {Threei}  WSJ: FRE AND FNM ARE CURRRENTLY WORKING ON LOAN MODIFICATION PLAN, EXPECTS PLAN TO BE RELEASED AT 2PMET

[10:10] {lisa_jay} Buying vad?  Q

[10:11] {Threei}  still thinking

[10:11] {Threei}  ummm... whatever process goes for thinking in me, lol

[10:11] {lisa_jay} :-)

[10:13] {Threei}  AIG EX CEO: GREENBERG: GOVT MUST MAINTAIN SUPPORT FOR COMPANY, COULD POTENTIALL BE A LONG TIME

[10:14] {Onix} totally unbelievable that a government can invest so many billions in one company

[10:16] {lisa_jay} uaua vad? valid

[10:16] {Threei}  no read lisa

[10:16] {lisa_jay} Ok, thanks Vad.

[10:19] {patience} good morning RT

[10:19] {lisa_jay} Hi Patience.

[10:19] {Threei}  patience :)

[10:19] {Chaeron} Patience :)

[10:20] {Onix} hi patience

[10:20] {patience} hardware problems, will see if fix is stable   :)

[10:26] {magoo} mkts tryinhg here vad

[10:27] {Threei}  not confident yet

[10:28] {lisa_jay} tug of war

[10:30] {dino} waiting it out

[10:31] {Threei}  yeah, very unclear here, want to get better idea of market wants

[10:33] {magoo} lvs a halt i guess

[10:36] {peterg} looking at stox, reminds me of old surfer song, "wipeout"

[10:37] {peterg} For you Canadienses, heard Jesse Cook flamenco guitar last night. fabulosos

[10:38] {Threei}  love his guitar

[10:38] {magoo} Canadienses, ..cardassiens?

[10:38] {peterg} whats the diff?

[10:39] {peterg} transylvanians

[10:40] {peterg} aapl

[10:40] {peterg} sorry, meant to check chart\

[10:49] {Threei}  two more downgrades FMCN

[10:49] {Threei}  they just pile up

[10:49] {Threei}  gang up on poor FMCN

[10:49] {magoo} really..kick me some more

06[10:50] * Geo kicks magoo albeit wondering why.......

[10:50] {Chaeron} FMCN was a brilliant call earlier... prolly going to be Call of the Day...

[10:50] {Threei}  I hope it won't be the ONLY call of the day, lol

[10:51] {dino} yeah.....feels like we will explode one way or they other

[10:51] {Chaeron} Oh hey... Happy Veterans' Day everybody... and to all you service men and women, many thanks for your incredible service.

[10:51] {dptl} ye...slow....was yesterday the same?

06[10:51] * Geo agrees

[10:52] {dino} happy veterans day and thanks

[10:52] {Geo} btw anyone here?

[10:52] {Geo} vet i mean

[10:54] {Threei}  I join in best wishes

[10:54] {Geo} what happenned to CNQR?

[10:55] {peterg} .

[10:56] {Threei}  I see some downgrades, that's all

[10:57] {Threei}  lol, another FMCN downgrade

[10:58] {Geo} i want this job

[10:58] {Threei}  I start feeling like buying it for a long term hold

[10:58] {Geo} read news and add " your opinion"

[11:04] {dawg} dawg takes 26 cents on the short side of GG and is immediately sent to pound

[11:05] {lisa_jay} good job

[11:05] {dawg} thanks lisa it was a DBI 

[11:05] {_maga} gg

[11:06] {lisa_jay} yes

[11:06] {_maga} ops..

[11:12] {Threei}  you shorted 21 break dawg?

[11:12] {dawg} Yes 20.99 

[11:12] {dawg} Valid setup?

[11:12] {Threei}  totally

[11:12] {dawg} ty Vad

[11:13] {Threei}  no, ty

[11:13] {Threei}  way I see it:

[11:13] {dawg} welcome sir

[11:13] {Threei}  I write a book (course, video, watever)

[11:13] {lisa_jay} Blog

[11:13] {Threei}  you read it, learn the way to utilize ,

[11:14] {dawg} my copy of TOTR is getting dog earred

[11:14] {Threei}  start making money of it

[11:14] {Threei}  everyone benefits,

[11:14] {peterg} dawg-eared

[11:14] {Geo} group hug :)

[11:14] {Threei}  what could be more ideal

[11:14] {Threei}  no hugs

[11:14] {dawg} That's what I am trying to do here

[11:14] {Threei}  we are too manly for that

[11:14] {Geo} lol

[11:15] {Threei}  restrained handshake

[11:15] {Threei}  half smile

[11:15] {Geo} TIF AMAT JRCC NOK CEL CNQR BWA

[11:15] {Geo} in 100 shares sim all of them

[11:15] {Geo} little experiment.... i figured.... ill play DBI probablilities and trail til reversal

[11:16] {Threei}  add NVLS

[11:16] {Threei}  DBI, and stays near low while NQ bounced some

[11:16] {Geo} ooh missed taht

[11:18] {magoo} we in anything

[11:18] {Threei}  NVLS short if you are up to slow stock

[11:19] {Threei}  srtop somewhere above .80 - .85

[11:19] {Threei}  watching FMCN for a sharp selloff

[11:19] {Geo} ok i know why i missed that...... it didnt gap 1% on open..... not a valid filter..... just needed something to reduce the alerts.....

[11:19] {Threei}  to jump in

[11:19] {Threei}  I got it from new 52 week lows geo

[11:20] {Geo} ok TY vad.... 

[11:20] {Geo} too many alerts lol

[11:21] {dawg} in NVLS short from 12.74 1/2 lot

[11:21] {magoo} u in fmcn now?

[11:21] {Threei}  GM 65 years low

[11:21] {Threei}  no mags

[11:21] {magoo} ok

[11:22] {Threei}  can't get reliable read on it

[11:22] {magoo} howaboutr RIMM bounce?

[11:22] {Threei}  .50 break...

[11:22] {Threei}  valid try chart wise

[11:22] {Threei}  but I p;ersonally will skip it

[11:22] {Threei}  just don't feel enthusiasm for longs at the moment

[11:23] {magoo} i was thinking closer to 44

[11:23] {magoo} buy pullbk

[11:24] {dptl} vrsn short??

[11:25] {Threei}  .54 if stays under .65, VRSN

[11:25] {dptl} ty

[11:26] {dptl} in

[11:32] {Onix} in ss VRSN .54

06[11:33] * Threei sends VRSN and NVLS dead fish

06[11:34] * KSystems orders one for his coffee as well

[11:34] {dawg} moving NVLS stop to 12.82 risk 4 cents on 500 shares

06[11:34] * Threei smells KS's coffee and faints

[11:35] {lisa_jay} lol.

[11:35] {dawg} ,)

[11:35] {Threei}  oil under 59?

[11:37] {Geo} 59.12 cl

[11:40] {lisa_jay} Vad, was VRSN a reverse cup and handle or a DBI? Thanks.

[11:41] {Threei}  DBI... but, depending on the scale of your chart, you can discern C&H in it too

[11:43] {Onix} out VRSN +.11

[11:43] {dptl} out vrsn +.11 ty

[11:44] {Threei}  :)

[12:03] {Geo} .

[12:04] {dptl} shhhh.......

[12:04] {Geo} sorry

[12:04] {dptl} go back to bed :)

[12:06] {Threei}  GS

[12:06] {Threei}  small shares long

[12:06] {Threei}  .80 break

[12:06] {Threei}  stop under .50

[12:07] {Threei}  invalidated

06[12:09] * Threei slaps laserdave1 around a bit with a large trout

[12:10] {laserdave1} thanks

[12:10] {Threei}  always

06[12:10] * Chaeron slaps laserdave1 around a bit with a large trout

[12:11] {laserdave1} double thanks

[12:11] {Chaeron} my pleasure

[12:11] {Chaeron} you're up Magoo.....

[12:12] {magoo} oh crap..was sleeping

[12:12] {Chaeron} can HIG go any lower?

06[12:12] * magoo slaps laserdave1 around a bit with a large trout

[12:12] {dptl} lol

[12:13] {laserdave1} triple thanks

[12:13] {Threei}  why not chaeron

[12:13] {dawg} stopped NVLS

[12:14] {Threei}  didn't it hit 1:1earlier?

[12:14] {dawg} i was in .74 think it hit .69 was all

[12:14] {dawg} what a dog of a stock

[12:14] {Threei}  I thought I saw .67... but not very material

[12:15] {Geo} hahahaha he said dog

[12:15] {Threei}  lol

[12:15] {_maga} valid breakdown for DELL  ?

06[12:15] * Geo sits back for the show

[12:15] {dawg} you are probably right sort of lost interest so slow

[12:16] {Threei}  hard to tell maga... market lost all signs of activity

[12:16] {Threei}  need it to start doing somewthing

[12:16] {_maga} ok, tx

[12:17] {dawg} i am in GS from 67.30 but only 200 shares long

[12:18] {dawg} OK i am out 67.67

[12:18] {dawg} thanks Vad running scared on that one

[12:18] {Threei}  :)

[12:18] {Geo} being easy on newbies vad

[12:19] {Geo} JRCC

[12:19] {dawg}  i am a nam vet i can take it

[12:19] {Geo} lol

[12:19] {Geo} darnnnn that kills it

06[12:20] * Geo more respectfull

[12:20] {magoo} one heckava chart GS

[12:22] {Threei}  DAVE, DCC

[12:29] {dptl} urbn??

[12:31] {Threei}  no idea dp

[12:31] {dptl} ok ty

[12:32] {dptl} was thinkin...06 break....with.96 stop

[12:33] {Threei}  I understand the setup... I just see this kind of setups as random at this point

[12:33] {dptl} i see...

[12:40] {magoo} prob is mkt stuck in tight range

[12:41] {magoo} better move maybe 2:30

[12:41] {Threei}  Hmmm

[12:41] {Threei}  LEN CEO: GOVT NEEDS TO STIMULUATE HOME PURCHASES, ENVIRONMENT REMAINS 'TOUGH' - CONF COMMENTS

[12:42] {Threei}  stimulate home purchase - isn't it what landed us in this mess in the first place

[12:42] {Threei}  let's create more mortgages destined to fail

[12:42] {magoo} next tell us govt needs to unrestrict crediut

[12:43] {magoo} vad dcc

[12:43] {Threei}  do I have to?

[12:49] {magoo} boy..uman of few words..all response 1 word or less lol

[12:49] {Threei}  less?

[12:49] {dptl} lol

[12:50] {magoo} yup..as in " :) "

[12:50] {Threei}  ah

04[12:54] -} [Threei] PING

[12:54] {dawg} caught another DBI setup in UAUA break .55 out .45 

[12:55] {Threei}  :)

[12:55] {dawg} valid DBI setup?

[12:56] {Threei}  for a scalp, yeah

[12:56] {dawg} because of short base?

[12:57] {Threei}  mostly because market doesn't have any gas

[12:57] {dawg} got it! thanks 

[13:01] {Threei} Long Setup:  LVS  half lot .35 if stays above .20

[13:02] {magoo} in

[13:03] {dawg} in

[13:03] {Onix} in

[13:03] {dptl} in

[13:03] {_maga} in .36

[13:04] {peterg} out at .40, +.06 thks

[13:04] {Threei}  peter isn't joking around

[13:05] {peterg} fear helps

[13:05] {magoo} i hope u took 10k shares

[13:05] {peterg} alas, back on training wheels

[13:07] {Onix} stopped

[13:07] {dptl} stopped

[13:07] {amarg} stopped lvs

[13:07] {_maga} stop

[13:07] {lisa_jay} Peter wins

[13:07] {dawg} stopped LVS

[13:07] {magoo} stopped

[13:07] {amarg} ooh sharp drop

[13:07] {amarg} should be short

[13:08] {Onix} wtg peter

[13:08] {peterg} ty

[13:10] {lisa_jay} Thank God for thight stops.

[13:11] {Chaeron} I thank Vad for teaching them too :)

[13:17] {peterg} Mkt in straightjacket

[13:17] {Threei}  pretty much

[13:18] {lisa_jay} Vad, on the LVS - setup was an Sym triangle (or coiling) with anticipation of breakout?

[13:18] {Threei}  pullback after sharp spike

[13:19] {Threei}  found support, started chewing through resistance

[13:19] {Threei}  formed tight enough range

[13:20] {lisa_jay} Ok, thanks.

[13:22] {amarg} vad, how come on lvs its having multiple orders in qty of 1000's on bid side, but it keeps on going down, shouldn't the price reflect demand

[13:23] {Threei}  that's static picture

[13:23] {Threei}  what matters is dynamic,

[13:23] {Threei}  whether those orders get hit or not

[13:23] {Threei}  if there are a lot of bids but sellers are willing to sell into them, they overcome the support

[13:24] {Threei}  same on offer side

[13:26] {Threei}  see these big offers getting chewed?

[13:36] {Threei}  volume is even lower than yesterday

[13:37] {Onix} what a boring way to spend a holiday

[13:40] {dawg} scalped a dime out of UAUA 12.45 break took awhile to get there

[13:41] {Threei}  :)

[13:41] {dawg} Vad.)

[13:41] {Threei}  from Reagan speech of 1984:

[13:41] {Threei}  t's a far cry from the gloom and doom of just 4 years ago. Sometimes it's hard to remember that only a short time ago people were counting America out. They were claiming that we were a nation in decline, that our best days were behind us. Inflation was running in double digits, robbing working people and the elderly of the value of their savings. Economic stagnation was throwing more and more people out of work and destroying any chance for the poor to better their lot.

[13:41] {Threei}  he auto industry, like the rest of the country, was on the edge of catastrophe. In 1980 alone, the Big Three [Chrysler Corp., Ford Motor Corp., and General Motors Corp.] lost $4 billion. And then came the recession, the culmination of years of too much taxing, spending, and regulating by those who claimed they could spend your earnings better than you could.

[13:42] {Threei}  Well, we've been determined to chart a new beginning for America. And I know that it hasn't been easy. That recession was deeper and longer than predicted. But these problems had been building up for 20 years.

[13:42] {Threei}  We were determined to find a real economic cure, not just resort, as they had so often in the past, to another political quick fix. There've been eight recessions since World War II, and seven of those were treated with quick fixes. There's no compassion in snake oil cures. We weathered that storm together, and now the Sun is shining on a strong economy and on an American automobile industry that is moving forward again.

[13:42] {Threei}  Remarks at the General Motors Assembly Plant in Orion Township, Michigan

[13:44] {Threei}  now, next quote is about how they achieved it

[13:44] {Threei}  citing it just to compare with current plans

[13:44] {Threei}  We went to work to get control of Federal spending that had been increasing 17 percent a year. We've cut that in half.

[13:44] {Threei}  Taxes had more than doubled just between 1975 and 1981, leaving working people paying taxes at a rate that only a short time before had been reserved for the extremely well-to-do. This ever-increasing tax load was driving money away from the private sector that could have been spent buying new cars or investing in new plants and equipment. With a 25-percent across-the-board tax cut, we've prevented the people from being mauled by tax increases, and we've indexed the rates so that ordinary people won't be pushed by inflation into higher and higher tax brackets.

[13:46] {KSystems} you can type fast, man

[13:46] {Threei}  uhhu

[13:46] {Threei}  and look at my spelling

[13:48] {Threei}  the only skill that is sorely lacking is reading comprehension

[13:48] {Threei}  can anyone tell me what that was that I typed?

[13:48] {Chaeron} market frisky...

[13:48] {KSystems} probably means that we have low volume today

[13:48] {Chaeron} don't know what you wrote Vad, but market responding positively

[13:48] {Threei}  oh good

[13:49] {Threei}  want to repost it twice?

[13:49] {Threei}  want me

[13:49] {Chaeron} let's get long first

[13:49] {magoo} yes

[13:51] {Threei}  Qs... can try .91 long

[13:51] {Threei}  stop .84

[13:51] {Threei}  idea is to partial out near 30,

[13:51] {dawg} in

[13:51] {Threei}  and try to hold the rest fro 30 break and, ummm

[13:51] {magoo} in

[13:52] {Threei}  some kind of cross between rally and creep-up

[13:52] {Threei}  or just take scalp

[13:52] {Threei}  whatever is to your liking

[13:52] {Onix} too fast, missed it

[13:52] {Threei}  keeping original plan, out half .99

[13:53] {lisa_jay} Scalped out for 7c thanks Vad.

[13:53] {dawg} out for scalp .99

[13:53] {Threei}  :)

[13:53] {dawg} thanks Vad

[13:53] {Threei}  sure thing

[13:54] {dptl} out half .01 qqqq

[13:54] {dptl} ty

[13:54] {magoo} out here .05 TY bodssarolla

[13:54] {magoo} full lot

[13:54] {Threei}  welcome guys

[13:54] {magoo} easy button

[13:55] {dino}     easy button

[13:55] {Threei}  bodssarolla - is it some kind of East Indian thing, like Bodhisatva?

[13:55] {Geo} All out .07

[13:55] {Threei}  out in full .12

[13:55] {Threei}  +.21

[13:55] {Geo} pesky INET kept sticking on LII

[13:55] {dptl} all out at .12 ty

[13:55] {Geo} thanks vad

[13:55] {Threei}  good job guys

[13:56] {magoo} bodssarolla -

[13:56] {magoo} man o man

[13:56] {Geo} sounds italian

[13:56] {Threei}  lol

[13:56] {Onix} ty Vad, i got 11c in Q's

[13:56] {Threei}  onix :)

[13:56] {Geo} mozarella

[13:56] {Threei}  hey, I studied yoga

[13:57] {magoo} like iltalian noodle

[13:57] {Threei}  in youth

06[13:57] * Geo doesnt want to picture that

[13:57] {Threei}  so my perceptions are influenced

[13:57] {magoo} plate of bodssarolla please..clam sauce

[13:57] {Threei}  6-arms Shiva... Bodhisatva

[13:58] {Threei}  and no need to picture geo... there is much more to yoga than hatha :)

[13:58] {Geo} hehehe

[13:59] {Geo} ic vad gets all spiritual when money is showered upon him

[13:59] {Threei}  wow... cross-breed of rally and creep-up turns into pure rally

[13:59] {Threei}  COIN

[13:59] {Threei}  SIGNS STRATEGIC AGREEMENT WITH ADM FOR TURFGRASS FERTILIZER

[13:59] {Threei}  - Company has entered into a strategic agreement with Archer Daniels Midland Company , to develop lysine-rich, green organic-based liquid and solid fertilizers for use in the professional turfgrass market.

[13:59] {Threei}  - Under the agreement Converted Organics will have access to ADM's patent-pending, lysine-based technology, marketed under the NaturStim trade name, and be allowed to develop, produce and market the Turf Blend organic liquid and granular fertilizers that contain NaturStim products.

[13:59] {Threei}  - Financial terms were not disclosed.{ADM}

[14:00] {Threei}  (RU) RUSSIA SAYS IT WILL CANCEL ITS MISSLE DEPLOYMENT PLANS IF THE US PULLS MISSILE SHIELD FROM CENTRAL EUROPE

[14:01] {Threei}  US TREASURY'S KASHKARI: LONA MODIFICATION PLANS DRAWS ON INDYMAC MODEL

[14:01] {Threei}  {FRE FNM}

[14:01] {dino} playing on obama

[14:02] {Threei}  Kashkari?

[14:02] {Threei}  or Russia? :)

[14:04] {peterg} fre

[14:05] {magoo} trashcanman? 

[14:06] {peterg} the Trashmen: The Bird is the Word

[14:06] {peterg} Started and ended here in Minneapolis

[14:08] {Threei}  US TREASURY'S KASHKARI: BORROWERS WHO CAN AFFORD NEW LOAN EQUAL TO 38% OF GROSS MONTHLY INCOME WILL BE MAILED NEW REFI OFFER; LOAN MODIFICATION PLANS DRAWS ON INDYMAC MODEL, MAY BECOME A STANDARD IN INDUSTRY,

[14:08] {Threei}  - Could see principal reduced, loan life extended

[14:10] {Threei}  FDIC'S BAIR: LOAN MODIFICATION PLAN ANNOUNCED BY TREASURY IS NOT ENOUGH, SOME OF $700B BAILOUT SHOULD BE USED FOR LOAN RELIEF

[14:10] {Threei}  FHFA'S JAMES LOCKHART: ASKS LOAN SERVICERS TO ADOPT THE GSE PROGRAM AS A NATIONAL STANDARD, MORTGAGE SERVICERS WILL RECEIVE AN $800 PAYMENT FOR EACH MODIFIED LOAN

[14:10] {Threei}  {FRE FNM}

[14:11] {Threei}  what the hell is going on

[14:12] {Threei}  bacchanalia of voices, all at once

[14:12] {Threei}  each pulling their own way

[14:13] {Threei}  was there any time on memory when it was so obvious that governing entities have no slightest idea what they are doing?

[14:13] {Onix} they want to change as many as possible "things" before Obama takes office

[14:14] {Onix} and only making things worse

[14:15] {Threei}  and the most depressing thing is, I used word bacchanalia and peter didn't endorse me... should I use "cacophony" as last resort??

[14:16] {peterg} plus lack of transparency where billions/trillions are going, if I understand right?

[14:16] {Threei}  oh yeah

[14:16] {peterg} Does george have an overseas account?

[14:16] {Threei}  that's the most astonishing thing

[14:16] {Onix} going for bonusses for management

[14:16] {Threei}  here is 2 trillions, use it wisely

[14:16] {Threei}  now, show what you did with it

[14:16] {Threei}  nope

[14:17] {peterg} Dick Cheney needs a few more billion; his stock in Halliburton is down a bit

[14:17] {Onix} we went to the spa

[14:17] {peterg} we had lunch

[14:18] {Threei}  decorated?

[14:18] {peterg} new wallpaper in front hall

[14:18] {Threei}  installed dancing pole I'd guess

[14:18] {peterg} Laura can shake that thing

[14:19] {Geo} ewwwwwwwwwww

[14:19] {peterg} truth always huts

[14:19] {peterg} hurt

[14:19] {peterg} hurts

06[14:19] * Geo will trade with his eyes gouged out now

[14:19] {peterg} huts too

[14:19] {Threei}  hunts

[14:19] {peterg} good

[14:21] {Threei}  LVS

[14:21] {Threei}  HEARING DEFENDED AT JEFFERIES(TIMING UNCERTAIN)

[14:21] {Threei}  OK, anyone understands how all those comments fuel this rally?

[14:22] {peterg} nope

[14:24] {Onix} i can not understand how anyone would want to buy anything in this economic climate

[14:24] {Threei}  pne encouraging thing is:

[14:24] {Threei}  one

[14:24] {Threei}  look at the volume on this upward spike vs the rest of the day

[14:25] {Threei}  onix... it will be way too late to buy when economic lcimate is good

[14:25] {Onix} yes, not bad

[14:25] {Onix} so true

[14:25] {Threei}  logic of stock market is different from Aristotle logic

[14:26] {Onix} are we going tond positive after -304?

[14:26] {lisa_jay} Look at ERTS...straight up.

[14:26] {Onix} end

[14:27] {Threei}  that wouldn't even be wide range day by today's standards

[14:28] {Threei}  Aristotle thought reason should come first, outcome second

[14:28] {Threei}  in the market is usually other way around

[14:28] {Onix} yes, we had much wider

[14:29] {magoo} vad we in anything

[14:29] {Threei}  no

[14:31] {dino} i missed it all too

[14:31] {Threei}  well... there was nothing really to iss

[14:31] {Threei}  miss

[14:31] {Threei}  I mean, there was no setup, no chart to read

[14:32] {Threei}  jusat some non-discernable comments, and market goes lalala

[14:32] {lisa_jay} Yes, ramped up really fast....

[14:46] {Threei}  AIG

[14:46] {Threei}  LARGE HOLDERS HAVE REPORTEDLY REQUESTED THE TREASURY AND FED PERMIT COMPANY TO ASSUME PRIVATE CAPITAL AND REMOVE FEDERAL OWNERSHIP AS A RESULT

[14:47] {Onix} great, now the goverment is going to get the $150B returned to them?

[14:48] {Threei}  why do I find it hard to believe

[14:48] {Onix} lol

[14:48] {Threei}  I mean...

[14:48] {Threei}  give me 150 B

[14:48] {Threei}  and try to get it back

[14:48] {Onix} :)

[14:49] {Onix} sorry already spent!

[14:49] {Threei}  you'd have to look for me somwhere on Saturn

[14:49] {dptl} lol

[14:51] {Onix} after bailing out the car companies, i suppose then comes Whirlpool & Maytag etc. because now nobody is buying their machines either?

[14:53] {dino} what about poor cicuit city?

[14:53] {Onix} exactly

[14:54] {Onix} why some and not others

[14:54] {Threei}  it's a bailout galore

[14:54] {Onix} can i go stand in line also?

[14:55] {peterg} gotta be friends w hank

[14:55] {Threei}  he has so many frineds, you can just pat his shoulder and he will think ou are one of them

[14:56] {Onix} lol

[14:56] {peterg} I am very close w. him. Just send me $1,000 and I will give you my card to give to him

[14:56] {hawkfan4} {=going to look for Hank and pat him on the shoulder

[14:57] {Onix} :)

[14:58] {peterg} For $500 more, I will inscribe an introductory bit of praise.

[15:00] {peterg} Dont tell anyone, but Hank is my half-brothrer

[15:00] {Threei}  peter... whatever you do, never ever forget your best friend me

[15:00] {Onix} he is going to be out of a job real soon though

[15:01] {Threei}  for the next 70 days at least

[15:01] {peterg} ok ok, cards for everyone online at Vads

[15:01] {Threei}  we need to get out piece of bailout before jan 21st

[15:02] {Threei}  not that bailouts end on that date, but it's going to be someone else's brother in charge

[15:02] {peterg} Right

06[15:03] * Threei stops paying his mortgage, car leases, utility bills, kids allowance, wife allowance and grocery tabs - gotta have a proof he needs solid bailout

[15:03] {Geo} ummm vad youre in victoria

[15:03] {Onix} good planning

06[15:04] * Threei books tickets to Saturn for the next day after being bailed out

[15:04] {Threei}  yes geo... so?

[15:04] {Threei}  are you going to discriminate against Victorians?

[15:05] {Threei}  or you think we don't have utility bills?

[15:05] {Geo} :)

[15:05] {Threei}  I say bailout in every pot

[15:09] {Onix} 1-minute head&shoulders forming on indexes?

[15:10] {Threei}  quite chaotic

[15:10] {Threei}  I don't think we can derive much from it

[15:12] {_maga} I see many forming C&Hs at daily high  ... look at DELL

[15:12] {Onix} who/what makes these patterns?

[15:12] {Threei}  we do

[15:12] {_maga} I follow the rules explained bu Vad in his book

[15:12] {dptl} prxl??

[15:12] {Threei}  our psyuchology

[15:13] {Onix} you mean i am an artists and i did not know it?

[15:13] {Threei}  but of course

[15:13] {Threei}  maga, on DELL... you mean C&H with break at 11.20?

[15:14] {Threei}  I'd stay away dp

[15:14] {dptl} ok ty..

[15:14] {_maga} I saw it with break at 11.6

[15:15] {Threei}  for 11.6 it never finished forming the handle part

[15:15] {Threei}  cup is formed

[15:16] {_maga} yes is still forming...  and half handle... if not invalidate

[15:16] {Threei}  a bit too deep, IMO

[15:17] {Threei}  I'd prefer it to bottom out around 11.30

[15:18] {Threei}  someone explain to me please

[15:18] {Threei}  I hear from everywhere how badly USA auomakers managed their affairs, build wrong cars etc

[15:19] {Threei}  why is no one talking abiout how unions bled them to death with unfathomable obligations

[15:19] {Threei}  that put them at such financial disadvantage vs TM etc

[15:20] {Threei}  that even though japanes and German automakers built gas-hyngry cars as well

[15:20] {Onix} yes, the unions organized themselves out of a job now

[15:20] {Threei}  it was not an even playing field simply on that basis

[15:21] {Threei}  it's not like everyone stopped buying GM and F cars now but still buys Toyotas

[15:21] {Threei}  they are all experiencing similar drops in sales

[15:22] {Onix} TM just a little less than the others

[15:23] {dino} the unions supported the democrats, they are giving them what they want, simple politics 3i, we support you if you don't let them file bankruptcy and break union contracts

[15:23] {Onix} but they should all have come up with alternativs to combustions engins looooonggg ago

[15:23] {magoo} no need..gas only 2.29 again

[15:23] {Threei}  well... car maker comes out and says,

[15:24] {Threei}  onix,

[15:24] {dino} bingo!

[15:24] {Threei}  here is 20K car

[15:24] {magoo} all those suckers took trade in beating dumping gas guzzling suv's this summer

[15:24] {Threei}  runs on gasoline

[15:24] {dino} wheres the incentive now to push for alt. energy? oil at 20 month lows

[15:24] {Threei}  here is 35K car, runs on something werid

[15:24] {dino} we are a fickle country

[15:24] {Threei}  for which you don't really have viable option to fule it

[15:24] {magoo} volks is unleashing mini car gets 117 mpg

[15:24] {Threei}  questionable battery that is likely to die on you in 5 years

[15:25] {Threei}  now choose please

[15:25] {Threei}  what do you pick? :)

[15:25] {Onix} yes, still way too many uncertainties to sort out

[15:25] {Onix} but they really waited way too long

[15:26] {dino} we have it in natural gas and more drilling, but again, a sub group, environmentalists, are to voting powerful

[15:26] {Onix} now nbody wnts to buy their cars in any case

[15:26] {dino} also we have 250 years of coal

[15:26] {dino} 140 years natural gas

[15:26] {Threei}  Nissan CEO recently said, they have all kinds of alt fuel cars in works,

[15:26] {Threei}  electric, hybrid, something else

[15:26] {Threei}  will start rolling them out in couple years

[15:26] {Threei}  but

[15:27] {Threei}  they all are going to sell at substantial premium.

[15:27] {Threei}  if oil stays where it is now, I just don't see people buying those

[15:27] {dino} and if gas stays down, nobody here will buy them

[15:27] {magoo} hey..did u see honey bunches of oats is now a new cereal..just bunches?

[15:27] {Threei}  except insanely rich with feel of guilt

[15:28] {Threei}  and as customer buyeth so manufacturer maketh

[15:28] {Onix} well, i should no say so much, because i don't even have a car

[15:28] {dino} no, the rich here like big and expensive, don't kid yourself. americans always want bigger

[15:29] {Threei}  sure... big hybrid SUV

[15:29] {magoo} right,,,it ain't they poor fueling mercedes, bmw, porshe frrearri

[15:29] {Threei}  what's wrong with hybrid Lexus

[15:29] {dino} yeah, gets 20 mpg but cost 30k more, i can buy alot of gas for 30k and get the same car, only not hybrid...see

[15:29] {Threei}  exactly

[15:29] {Onix} we use bicycles using bio fuels

[15:29] {lisa_jay} Dawg..did u take any more scalps?

[15:30] {dawg} just watching FITB right now in a trading range about midpoint Lisa

[15:31] {dino} example: i bought dodge durango, because they discounted it 12k, at 15 mpg, 12 k buys me 3-5 years of driving, the hybrig suv was a smaller one at 18k more, for lousy extra 7 mpg's

[15:31] {Onix} we going down to -400?

[15:32] {Threei}  onix... in today's trading anything's possible, no rhyme or reason

[15:32] {Onix} true

[15:32] {Threei}  dawg, FITB reflects market fairly close today

[15:33] {dawg} Yes Vad, heading back to pound here soon

[15:33] {elpaso} Hello, I just received my package last night and am studying diligently.  Do you have anywhere a description of your scanner setup?  I have found the documentation for the scanner and am familiar with it's menus but I have yet to learn the alert types.

[15:34] {elpaso} sorry I thought that was a private message.

[15:34] {Threei}  hehe

[15:34] {Threei}  dcc me :)

[15:35] {dawg} took break of  9.87 Lisa

[15:35] {dawg} FITB

[15:35] {dawg} try for a few cents

[15:36] {lisa_jay} reverse cup & h

[15:36] {dawg} DBI but need to confirm that with the bossman

[15:37] {Threei}  it doesn't look like any animal I know

[15:37] {lisa_jay} :-)

[15:38] {dawg} OK wistful thinking probably end up losing a dime anyway

[15:38] {Threei}  IMO, just follows the market down

[15:38] {dptl}  .... have a good evening all :)  good day....thank you :)

[15:38] {dawg} OK probably end up losing a dime anyway

[15:38] {Threei}  take care dp :)

[15:40] {dawg} be stop

[15:41] {dawg} ok stopped

[15:41] {dawg} be

[15:42] {lisa_jay} Oh well, followed your plan - nice trade.

[15:44] {dawg} Thanks Lisa I am done for the day.  Vad had some good calls today.

[15:45] {lisa_jay} Yes...made good $ early.

[15:45] {dawg} I recall you made some money today also correct?

[15:45] {Onix} wtg lisa!

[15:45] {Threei}  best of them was dialing accidental number and asking politely "hi, this is Hunk, where do you want me to send you your bailout?

[15:46] {Geo} hunk?

[15:46] {lisa_jay} lol.

[15:46] {lisa_jay} Hunk?...Vad?

[15:46] {Threei}  ummm

[15:46] {Threei}  hank?

[15:47] {Threei}  comeon, years of experience should have taught you reading my typing even when I make 4 errors in 4 -letter word

[15:47] {lisa_jay} Dawg the money was all Vad's call.  Mine just suck.

[15:47] {Threei}  did you know that just 5 mistakes turn word bread into word vodka?

[15:47] {dawg} Yes but you hung in there today and didn't take the first few cents right?

[15:48] {lisa_jay} Yup.  A first for me true.

[15:48] {dawg} wtg!

[15:48] {lisa_jay} :-)  Thanks.

[15:48] {dawg} .)

[15:48] {Threei}  good job lisa

[15:48] {Threei}  studying pays off

[15:48] {lisa_jay} Yes.

[15:49] {Threei}  look at CLNE

[15:49] {Threei}  did Pickens lose the touch?

[15:50] {Onix} certainly looks that way

[15:50] {dino} gas fell, no need to do it

[15:51] {dino} we are a very short sighted country

[15:54] {magoo} is this a trading room anymore or a political debate forum like "crossfire" sheesh

06[15:54] * Threei slaps magoo around a bit with a large trout

[15:55] {magoo} YESSSSSSSSS

[15:55] {Threei}  lol

06[15:55] * dino slaps magoo around a bit with a large trout

[15:55] {Onix} you still in STEM Vad?

[15:55] {dino} too many distractions today, i shall do more tomorrow.

[15:55] {Threei}  yes, didn't do anything today that would define any action

[15:56] {Onix} ty

[15:57] {magoo} we hit a couple good ones vad

[15:57] {magoo} q was real nice

[15:57] {Threei}  the first one was the best

[15:58] {Threei}  Ok guys, thank you all

[15:58] {magoo} ty

[15:58] {Onix} ty & bye

[15:58] {Threei}  have a good evening, see you tomorrow

[15:58] {lisa_jay} Thanks Vad.

[15:58] {dawg} thanks all