Dec 30 2008

Not terribly active day, as expected. Couple stops, couple wins, barely profitable. AAPL saga brought nice trading opportunity when reluctant denial of a rumor appeared but it was mostly for personal consumption, not the room call.

Session Time: Tue Dec 30 00:00:00 2008

[08:34] {lisa_jay} Good morning.

[08:34] {Threei}  morning lisa

[08:34] {dawg} gm all

[08:34] {Threei}  dawg :)

[08:35] {Threei}  sold 500 SLW 6.57 seeing oil and gold down

[08:35] {patience} good morning RT   :)

[08:35] {Threei}  got 300 more that I picked yesterday at .38

[08:35] {Threei}  patience :)

[08:35] {Threei}  not sure if it's worth holding

[08:35] {Threei}  I guess will dump it if it loses .30

[08:35] {lisa_jay} HI Dawg, Patience.

[08:35] {patience} morning Lisa

[08:35] {dawg} Hello Lisa

[08:36] {patience} wouldn't surprise me if precious metals sulk for a week or so

[08:45] {Larisa1} good morning :)

[08:45] {Threei}  Larisa :)

[08:46] {Threei}  REPORTEDLY GM 8% 2031 BOND FALLS 238BPS FOLLOWING BAILOUT - UNCONFIRMED SOURCE

[08:46] {Onix} Good morning all

[08:46] {Threei}  onix :)

[08:46] {Larisa1} onix, threei :)

[08:47] {Threei}  yesterday around 8:40 pm I decided I am all for chemical castration as method of idiots control

[08:48] {Threei}  driving kids to ferry, temperature drops to freezing point after some rain during the day,

[08:49] {Threei}  on a curvy part of road I hit back ice patch,

[08:49] {Threei}  car fishtails a little, AWD kicks in and evens it out,

[08:49] {Threei}  I take foot off the gas pedal, arriving safely.

[08:50] {Threei}  On my way back, driving at the same spot, there is big SUV, Ford Explorer

[08:51] {Threei}  on this same patch loses control totally, wanders all over the road, by sheer luck avoids hitting concrete divider or car in the next lane.

[08:51] {Threei}  I take foot off gas pedal again,

[08:51] {Threei}  now get this:

[08:51] {Threei}  car behind me, THE SAME MODEL, Explorer,

[08:52] {Threei}  nervously honks and hurriedly passes me sharply swerving around me.

[08:52] {Threei}  Right there, seeing that one with no control 2 seconds ago!

[08:52] {Threei}  Now, do we want these people to procreate?

[08:53] {lisa_jay} We will need someone to buy our shares when we sell for profit Vad.

[08:54] {Threei}  yeah but life expectancy is not high enough for this kind... they won't be around when we hit sell button

[08:56] {Threei}  *OCT CASE SHILLER HOME PRICE INDEX: 158.1 V 161.56 PRIOR; COMPOSITE 20 INDEX: -18% V -17.9%E

[08:56] {Threei}  - prior home price revised from 161.56 to 161.65

[09:13] {magoo} morning

[09:13] {dino} gm all

[09:13] {tomg} good morning 

[09:13] {Threei}  magoo, dino, tom :)

[09:14] {magoo} vad, news GS AAPL FSLR RIMM?

[09:15] {dptl} good morning all

[09:15] {ese} good morning........

[09:15] {Threei}  dp :)

[09:15] {Threei}  not really mags

[09:15] {Threei}  ese :)

[09:16] {ese} heres interesting info for you all.......

[09:16] {ese} it's my birthday tomorow....

[09:17] {Threei}  wow... guaranteed celebration every year even if they forget :)

[09:17] {Threei}  happy birthday :)

[09:17] {ese} yes indeed!!!

[09:17] {ese} tks

[09:17] {magoo} nice ES ..happy bday

[09:17] {tomg} happy birthday ese :)

[09:17] {Onix} hi magoo; dino; tomg

[09:17] {ese} tks tom

[09:18] {ese} morning onix

[09:18] {tomg} hi onix

[09:18] {Onix} hi ese, happy birthday tomorrow!

[09:21] {ese} thnks you

[09:21] {dino} have a happy b-day es

[09:21] {ese} sorry thank you...thats better

[09:22] {ese} tks dino......

[09:22] {patience} happy birthday ese   :)

[09:23] {ese} tks patience.....

[09:30] {gen} gm evrybody :)

[09:30] {Threei}  gen :)

[09:31] {dino} rtlx

[09:32] {Threei}  watching PAL for 2 break

[09:32] {Threei}  I'd prefer it to happen when metals are strong though

[09:35] {Threei}  STLD

[09:35] {Threei}  watching for long if pulls back to .40 -.50

[09:36] {Threei}  half lot, one more leg down

[09:37] {Threei}  or .60 break if holding above .50

[09:38] {Threei}  better

[09:38] {Threei}  .50 break if holding above .40

[09:40] {Threei} Long Setup:  SLW  .33, stop under .20

[09:41] {Threei}  for hard core scalpers under .25

[09:42] {Onix} in .34

[09:42] {dino} rimm sm l .20

[09:44] {dino} stop is .89

[09:45] {Threei}  DEC CHICAGO PURCHASING MANGERS INDEX: 34.1 V 33E

[09:45] {dino} clwr blood

[09:45] {patience} agrium and potash doing well, low volume though, cdn side

[09:46] {ese} L SLW .36 1/2

[09:47] {lisa_jay} targets for trades vad?

[09:47] {dino} rimm stopped -.31

[09:48] {Threei}  SLW half out on the next spike, STLD is just a scalp if works

[09:50] {Threei} Long Setup:  QQQQ  .12 if stays above .05

[09:52] {dino} dxd sm l .60

[09:53] {dino} stop lod

[09:59] {dino} out dxd .00, +.40

[10:00] {patience} the market is moving in slow motion

[10:00] {Threei}  DEC CONSUMER CONFIDENCE: 38 V 45.5E

[10:00] {Threei}  yikes

[10:00] {dino} whew, thought that was me

[10:00] {Threei}  let's rally on this, and we are officially in a bull market

[10:01] {Threei}  STLD no worky

[10:01] {lisa_jay} STLD stopped

[10:02] {ese} Out SLW  too much supply -.06

[10:06] {Threei}  good out

[10:06] {lisa_jay} SLW stopped

[10:06] {Onix} stopped slw

[10:06] {dino} vz sm l .95, stop .62

[10:15] {lisa_jay} STLD rinsed.

[10:15] {Threei}  Qs setup is back

[10:15] {magoo} yes in .08

[10:18] {magoo} u know..i miss those 500 point swings

[10:18] {Threei}  lol

[10:18] {magoo} got used to big movemts

[10:18] {Threei}  they'll be back

[10:18] {Threei}  we are just having holiday boredom

[10:22] {lisa_jay} in q"s

[10:23] {Threei}  STLD, that was rude

[10:28] {Threei}  half out Qs here or scalp, your choice

[10:30] {Onix} ty Vad, i took 12c in q's

[10:30] {lisa_jay} Scalped out Q's got 10c thanks Vad.

[10:30] {dino} last try rimm sm l .95

[10:30] {Threei}  welcome

[10:30] {Threei}  offering second half .28

[10:30] {magoo} .27 here

[10:31] {magoo} out he he

[10:31] {lisa_jay} nice

[10:32] {Threei}  out

[10:32] {magoo} nice call boss

[10:34] {Threei}  barely covered previous stops, lol

[10:34] {magoo} you are only human:)

[10:36] {magoo} can u believe how nice i am being?

[10:36] {patience} i always said, that magoo...he is a real gentleman

[10:37] {Threei}  I can't magoo... I fainted

[10:37] {magoo} :)

[10:37] {patience} meanwhile back at the ranch, i totally missed the momo in cdn banks, ag and energy plays

[10:40] {magoo} haven"t done this in awhile

06[10:40] * magoo slaps patience around a bit with a large new pair of nike running shoes

[10:40] {patience} as long as they are new

[10:45] {lisa_jay} testing

[10:46] {lisa_jay} drys is perky this morning.

[10:46] {ese} back long SLW .29 1/2 lot

[10:47] {magoo} vads, news FSLR?

[10:47] {Threei}  nope

[10:51] {Threei} Long Setup:  LINE  .10 break half lot if stays above 15

[10:55] {magoo} any read PRU vad?

[10:56] {Threei}  mostly mirrors market today

[10:57] {Threei}  probably worth try for bounce scalp on sharp dive under .50

[10:57] {Threei}  smaller shares

[10:58] {Threei}  GM

[10:58] {Threei}  COMPANY HAS REPORTEDLY OBSERVED INCREASE IN SHOWROOM TRAFFIC AFTER ANNOUNCEMENT OF GMAC AS A BANK HOLDING COMPANY

[10:58] {Threei}  - Sales Chief: December sales had been better m/m before announcement of recent incentivized offers, may evaluate return to leasing

[10:58] {Threei}  - Notes that 2009 sales expectations remain unchanged{F}

[11:02] {patience} heading out for a bit, watching brazilian stocks, PBR is one i wanted to trade today

[11:02] {KSystems} good morning

[11:03] {Threei}  KS :)

[11:03] {Onix} hi KS

[11:03] {KSystems} hey vad, onix

[11:03] {Onix} it is so crazy ... when institutions get into trouble, they become banks?

[11:04] {Onix} lke Goldman Sacks & GMAC?

[11:06] {dino} life insueres

[11:06] {dino} insurers

[11:11] {dino} stop rimm .99, +.04 thing won't move

[11:12] {magoo} rimm lost its favor for now

[11:12] {lisa_jay} SVNT

[11:16] {Threei}  had news after market

[11:16] {Threei}  12/29/08 05:01pm

[11:16] {Threei}  [SVNT] Savient Pharmaceuticals Inc. Pegloticase BLA Filing Accepted for Priority Review by FDA

[11:16] {Threei}  - PEGLOTICASE is a novel biological drug for treatment-failure gout (TFG) patients.

[11:16] {Threei}  - Under priority review, the target date for an FDA decision on the pegloticase BLA is April 30, 2009.

[11:20] {Larisa1} magoo hurt RIMM's feelings, moving now :)

[11:21] {Threei}  PLD

[11:21] {Threei}  if losing .40, likely to drop sharply and give nice bounce scalp

[11:21] {dino} wmt sm l .50

[11:21] {magoo} call your entry please..i always chase iin

[11:22] {dino} f'ing rimm

[11:24] {magoo} long aapl here for scalp

[11:24] {magoo} in .18

[11:24] {magoo} stop ..90

[11:26] {magoo} .47 exit

[11:26] {magoo} if gets there

[11:27] {Threei}  SAY

[11:27] {Threei}  DISCLOSES NO LONGER IN COMPLIANCE WITH INDIAN STOCK EXCHANGE RULES DUE TO DIRECTOR RESIGNATIONS RECENTLY - FILING

[11:27] {Threei}  short on .70 break?

[11:27] {Threei}  with stop above .80

[11:27] {magoo} avail

[11:27] {Threei}  it's not news really

[11:28] {Threei}  hard to tell

[11:28] {magoo} missed PRU

[11:29] {magoo} kickin AAPL

[11:30] {Threei}  OK, .69 short but with stop above .75

[11:30] {magoo} pretty good kkick

[11:30] {magoo} out

[11:30] {Threei}  no kidding

[11:30] {Threei}  wtg

[11:30] {magoo} hurt myself tho

[11:31] {Threei}  RIMM won't follow for some reason

[11:31] {Threei}  didn't make even couple cents on this Qs spike

[11:31] {dino} aapl sm l .40

[11:32] {magoo} yeah,..aapl moves still..not as  good as used too..but rimm has quit

[11:38] {Threei}  if market goes for new highs, HIG 16 break for a scalp

06[11:39] * Threei slaps Chaeron around a bit with a large Happy New Year greeting

[11:39] {Chaeron} thanks :) Hi all

[11:40] {Onix} hi Chaeron

[11:41] {Chaeron} hi Onix :)

[11:42] {Threei}  Santa is here but looks pretty much sapless

[11:42] {Threei}  spent

[11:42] {Threei}  exhausted

[11:44] {lisa_jay} futures going up...but HIG not breaking that 16

[11:48] {dino} aapl stop to .80

[11:52] {dino} out +.40

[11:54] {Onix} wtg!

[11:55] {Threei}  nice one

[11:55] {tomg} wtg dino, i got part of it, ty!

[11:55] {dino} ty

[12:01] {dino} i messed up wmt, had .95 and didn't take it

[12:05] {Threei}  CAT

[12:05] {Threei}  half lot long on .50 break

[12:05] {Threei}  stop under .35

[12:06] {Threei}  with any market support is capable of more than scalp

[12:09] {dino} stopped vz .22, +.28

[12:09] {dino} stopped wmt .65, +.15

[12:13] {Threei}  put also KLAC on watch

[12:13] {Threei}  bounce scalp candidate

[12:18] {laserdave1} laserdave1 hits the entire room with santy claus

[12:18] {Threei}  lol

[12:18] {Onix} ty

[12:19] {laserdave1} now tha was imprssive

[12:19] {laserdave1} nprobs

[12:27] {lisa_jay} laserdave1 DCC if you have a minute

[12:30] {dino} itri

[12:30] {dino} ensg

[12:37] {dino} itri sm s .18, risky

[12:40] {Threei}  watching KLAC for possible bounce off .50 and CAT off 43

[12:47] {Threei}  SVNT nice sizeable pullback

[12:48] {dino} stop on itri is .46

[12:49] {Threei}  AAPL

[12:49] {Threei}  reports of Jobs health problems

[12:50] {lisa_jay} sheesh

[12:50] {Threei}  rumors rather

[12:50] {Threei}  if denied, buy all you can

[12:51] {lisa_jay} Drys any read vad?

[12:51] {Threei}  AAPL

[12:51] {Threei}  HEARING WEAKNESS ATTRIBUTED TO VAGUE SPECULATION ON HEALTH OF STEVE JOBS

[12:51] {Threei}  not really

[13:01] {dino} aapl sm l .90, risky

[13:05] {magoo} u in cat vad

[13:08] {dino} vad is the cat

[13:08] {Threei}  no

[13:09] {dino} out aapl .30, +.40

[13:10] {lisa_jay} nice

[13:10] {dino} cpla spike

[13:10] {Threei}  missed it near 43, got distracted

[13:10] {dino} thin

[13:10] {Onix} gj

[13:10] {dino} midd too

[13:10] {magoo} nice dino

[13:10] {dino} thx

[13:21] {lisa_jay} .

[13:26] {dino} cov itri .85, +.33

[13:26] {Onix} nice

[13:26] {dino} ty

[13:27] {Threei}  last time around this happened company was faairly quick to deny rumors

[13:27] {Threei}  I guess traders get nervous about lack of denial

[13:29] {dino} we shall buy it again

[13:29] {magoo} oh no u shant

[13:35] {dino} getting interesting

[13:37] {magoo} o no 

[13:37] {dino} would seem that jobs is the only aapl employee the way it trades

[13:37] {magoo} the only one in research

[13:37] {Onix} SU?

[13:38] {magoo} SU=shut up?

[13:38] {Threei}  lol

[13:38] {Threei}  not sure onix

[13:38] {Onix} :)

[13:41] {dino} esrx

[13:41] {lisa_jay} FFIV

[13:44] {Threei}  half lot CAT .11

[13:45] {dptl} stop under 43?

[13:45] {Threei}  yup

[13:46] {magoo} in cat

[13:46] {lisa_jay} IN

[13:46] {Onix} in .12

[13:47] {ese} talk about your b-flat ordinary tuning type nothing day.   Am still long the molasses version of SLW.  Although i'm +.08 which would put me up  +,02 for the day.

[13:47] {dino} fantastic

[13:48] {lisa_jay} Bright side you are up.

[13:48] {dino} lol

[13:48] {Threei}  more ethusiasm AAPL

[13:48] {ese} huh.....aaahhh oh ya....i'm up!

[13:49] {magoo} hate to chase aapl here

[13:49] {magoo} NEWS AAPL CNBC

[13:49] {Threei}  denial?

[13:50] {ese} he better be alright.......man i just bought his computor.

[13:50] {magoo} yes

[13:50] {Threei}  beautiful

[13:50] {lisa_jay} were u long?

[13:50] {Geo} hi fellow speculators !

[13:50] {Geo} laseedave dcc pls

[13:50] {Threei}  grabbed .18

[13:50] {Threei}  half out CAT

[13:51] {Threei}  CNBC'S GOLDMAN: APPLE DOES NOT COMMENT ON MARKET RUMORS, NOTHING HAS CHANGED FOR PULLING OUT OF MACWORLD CONFERENCE, CITING IRRELEVANCE OF CONVENTIONS

[13:51] {Threei}  stop to .04

[13:52] {dptl} cat?

[13:52] {Threei}  yes

[13:55] {Threei}  this is not real denial, is it

[13:55] {dino} me thinks aapl protests too much

[13:55] {magoo} not a clear denial

[13:55] {Threei}  no

[13:56] {Threei}  market wants to see him doing push-ups

[13:56] {dino} brings back memories of the 3 d's

[13:57] {Threei}  our balance CAT

[13:57] {Threei}  out

[13:57] {lisa_jay} stopped

[13:57] {Onix} stoped CAT

[13:57] {Onix} & stopped

[14:01] {magoo} ditto

[14:01] {Threei}  am I the only one here taking half at 1:1??

[14:02] {dino} you are te only one here

[14:02] {Threei}  oh good

[14:02] {Onix} yup

[14:02] {magoo} yup

[14:03] {Onix} ever hopeful ... i thought 1:1 for CAT was .22 - .24

[14:04] {Threei}  hit.22, stalled... why be so literal in choppy thin market?

[14:05] {Threei}  [13:50] {Threei} half out CAT

[14:05] {Onix} learning every day ... was too fast for me :)

[14:05] {Threei}  SPOKESPERSON: COMPANY WOULD INFORM PUBLIC IF DETERMINED THAT JOBS WAS UNABLE TO PERFORM DUTIES

[14:11] {dino} esrx sm l .60

[14:14] {dino} stop is .33

[14:15] {dino} uhal rocking, thin

[14:17] {Threei}  people are moving a lot recently?

[14:22] {dino} \perhaps

[14:26] {Threei}  8 snowmobilers died in avalnche in BC

[14:31] {Threei}  FMCN

[14:31] {Threei}  SHARES INITIATED WITH BUY RATING AT A BOUTIQUE FIRM, PRICE TARGET $13 (TIMING UNCERTAIN)

[14:35] {magoo} vad..mkt close up big or wha?

[14:36] {Threei}  I doubt it

[14:36] {magoo} feels to magoo up

[14:37] {Threei}  feels up to me too, but big - hardly

[14:37] {patience} is market open all day tomorrow?

[14:37] {Threei}  half

[14:37] {Threei}  I think

[14:37] {patience} ty

[14:38] {dptl} i think its a full day

[14:38] {dino} gass

[14:38] {lisa_jay} Patience are you in PBR?

[14:38] {patience} y

[14:38] {lisa_jay} Where did you pick it up?

[14:38] {lisa_jay} thanks.

[14:38] {patience} 23.40

[14:39] {patience} was waiting for a nice pop after the bollinger bands narrowed so nicely

[14:39] {dino} pabst blue ribbons

[14:39] {patience} not exactly taking off

[14:39] {Threei}  yup... full day

[14:39] {patience} it is a good swing candidate for me

[14:40] {patience} i'm reading up on brazilian stocks, will narrow the list down to 6 and probably trade them in 2009

[14:41] {lisa_jay} The daily looks very nice...

[14:41] {dino} esrx stopped -.27

[14:41] {patience} slow and steady   :)

[14:42] {lisa_jay} Not to jinx it, but if it were to not work out...where would you be stopped out?  Thanks.

[14:43] {patience} in the 21 dollar area...this is a longer play for me

[14:43] {lisa_jay} Ok, thank you.

[14:59] {dino} esrx getting spanked

[15:02] {dino} vz sm l .80

[15:10] {Geo} hey vad dcc if you have a min pls

[15:13] {dino}  vrtx

[15:25] {dino} aapl sm l .70

[15:35] {dino} aapl stoped .25, +.55

[15:35] {lisa_jay} nice

[15:35] {dino} ty

[15:35] {dino} magoo piggy backed it

[15:36] {Threei}  watching CSIQ for pullback into .40- .50

[15:38] {magoo} dino..3:40 spikarolla}????

[15:39] {dino} signs point to yes

[15:39] {dino} esrx big old rinse

[15:41] {Threei}  will take CSIQ if eats through .60

[15:45] {dino} theres 46 pts

[15:45] {dino} should get 60-80

[15:45] {dino} had 50

[15:50] {lisa_jay} anyone got CSiQ?

[15:50] {Onix} went way too fast through 60, 61 etc.

[15:51] {dino} nope

[15:52] {dino} ok +60

[15:52] {Threei}  don't take it on pullback unless willing to hold overnight

[15:52] {Threei}  too close to eod in case you lost track of time

[15:53] {dino} crazy 3:40 bounces go 60-80 points just about every day

[15:55] {magoo} DINOOOOOOO

[15:55] {magoo} called it

[15:56] {dino} 82

[15:57] {dino} out vz .20, +.40

[15:58] {dino} slow day, but 8/11

[15:58] {magoo} DDDDDDDIIIIIIIIIIIIIIIIIIIIIIINNNNNNNNNNNNNNNNNNOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

[16:00] {dptl} have a good evening all

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good evening, see you tomorrow for the last session of this tortured year

[16:01] {magoo} ty boss

[16:01] {dino} take care all

[16:01] {dino} thx for ideas

[16:03] {dawg} thanks everyone