Feb 11 2009

Today took real patience. Opening was unreadable to me, then no real trades were coming along, until finally RIMM formed real setup for a nice pop, nicely beyond scalping profits. Single trade made a day, the rest was not worth mention.

Session Time: Wed Feb 11 00:00:00 2009

[07:53] {magoo} morning

[07:56] {Threei}  Good morning

[07:56] {nemo} mornin'

[07:57] {Threei}  magoo, nemo :)

[07:57] {nemo} What's new?

[07:57] {Threei}  well... how about this to start the day:

[07:58] {Threei}  (EU) EU'S BARROSO: 'ECONOMY CAPITALISM' POSES A THREAT TO THE GLOBAL ECONOMY

[07:58] {nemo} Yeah, expect to hear alot of that

[07:58] {nemo} History repeating itself

[07:59] {Threei}  and economy socialism works flawlesssly I assume

[07:59] {Threei}  USSR is the most powerful state, and Cuba prospers

[08:00] {nemo} It's all relative.  You didn't know how bad you had it...well until you found out how well the Politburo and apparatchiks lived

[08:00] {Threei}  NY AG CUOMO REPORTEDLY LAUNCHING INVESTIGATION INTO 2 BANKS ON WHETHER THE TIMING OF BONUSES 'FORCED' THE TAXPAPERS TO PROVIDE SUCH FUNDING

[08:00] {Threei}  {XLF}

[08:00] {nemo} what about xlf

[08:01] {ese} looks like a couple of ya hanging around

[08:01] {Threei}  attached at the end of the headline to indicate the headline's relation

[08:01] {Threei}  ese :)

[08:01] {nemo} how ya' feelin' ese

[08:01] {nemo} maybe it's a message from God to trade XLF today?

[08:02] {Threei}  everyone knew how those guys lived

[08:02] {ese} not good today......pain in left leg came back last night.....hard to sleep

[08:02] {Threei}  what we didn't know for a while or at least not to full extend was how West lived

[08:02] {ese} feel ok now though......now that i'm not lying down

[08:02] {Threei}  sorry to hear ese...

[08:02] {nemo} It's a process ese

[08:03] {ese} soldier on and all that.....cheree ho hip hip what ....and all that

[08:03] {Threei}  wehile to iron curtain was in pl;ace, information from the West was trickling through very sparingly

[08:04] {nemo} Yeah, I was in Germany the end of 88, and met a family who had just come from East Germany that week.  I took them around, they couldn't believe all the shops and all the goods.  It literally was like kids in a candy store

[08:04] {Threei}  yup

[08:05] {Threei}  those rare individuals who got to visit, were under strict obligation to share very little and to filter it to the ideological purposes

[08:06] {Threei}  no TV programs from the West, no papers, magazines

[08:07] {Threei}  some radio broadcasts that were scrambled by soviet authorities to the best of their abilities

[08:08] {Threei}  RIMM is hit

[08:13] {magoo} bounce play vad?

[08:13] {Threei}  as a concept yes... I don'ty see how their announcement warrants such drop

[08:14] {Threei}  what they said was, hliday sales exceeded the norm so they expewct to return to the norm

[08:14] {Threei}  only with better spelling

[08:15] {Threei}  guidance around midrange to lower end of the range

[08:15] {Threei}  is it really 6 dolars dump worthy?

[08:15] {hawkfan4} what stock?

[08:15] {Threei}  RIMM

[08:16] {hawkfan4} ah, thx

[08:16] {hawkfan4} oh yeah, good morning

[08:16] {Threei}  lol... hi

[08:21] {Threei}  .50 break mags, with stop under .30

[08:21] {Threei}  small shares of course

[08:21] {magoo} in .49

[08:22] {Threei}  not ready yet

[08:23] {magoo} yep

[08:23] {magoo} out

[08:23] {Threei}  BALTIC DRY BULK INDEX +4.1%, 17TH STRAIGHT INCREASE

[08:29] {Threei}  wow

06[08:29] * Threei is bidding $1 for RIMM

[08:30] {Threei}  at this rate I may get my fill before market open

[08:30] {Threei}  DEC TRADE BALANCE -$39.9B V -$35.7BE

[08:30] {Threei}  - Prior revised from -$40.4B to -$41.6B

[08:31] {magoo} 49.50 area vad?

[08:31] {Threei}  no idea

[08:31] {Threei}  how do you tell 49.50 from 50.50 in this thin premarket trading?

[08:34] {magoo} i cant...

[08:34] {magoo} was hoping u could

[08:35] {Threei}  if you want me to repeat for zillionth time that no technicals work during premarket... there, I said it

[08:36] {ese} missed the news on rimm....what is it

[08:36] {nemo} Oija board works great

[08:37] {Threei}  07:03am [RIMM] Reaffirms Q4 EPS $0.83-0.91 v $0.85e, R "at or near midpoint" of $3.3-3.5B v $3.4Be; Guides Q4 net adds 20% higher than the 2.9M prior forecast

[08:37] {ese} Ok   so the news is OK and it goes down.....hmmmmm yup thats normal

[08:40] {Threei}  REP. FRANK: I DO NOT THINK YOU WANT TO MOVE AWAY FROM MARK-TO-MARKET ACCOUNTING - CNBC

[08:41] {magoo} great

[08:41] {Threei}  there is no limit to the damage this guy can cause

[08:42] {Threei}  "fannie and freddie will do what I tell them to" Frank

[08:42] {Threei}  - You do not want politicians legislating accounting rules.

[08:42] {Threei}  - Looking for "flexibility" in the consequences of fair value accounting.

[08:43] {Threei}  flexibility in accounting - this sounds beyond scary

[08:43] {Threei}  DRYS ate through huge offer at .50

[08:44] {nemo} when you describe a stock that way, I envision a little pacman

[08:45] {nemo} drys

[08:45] {nemo} sorry

[08:46] {ese} ouch laris....thats gotta hurt

[08:52] {larisa} good morning :)

[08:52] {ese} morning

[08:53] {Threei}  larisa :)

[08:53] {fernp} morning all

[08:53] {ese} board didn't like you this morning

[08:53] {Threei}  fern :)

[08:53] {larisa} ese, threei :)

[08:53] {ese} fern

[08:53] {larisa} was my fault ese :)

[08:53] {dino} gm all

[08:53] {Threei}  dino :)

[08:54] {Onix} Good morning all

[08:54] {Threei}  onix :)

[08:54] {ese} onix

[08:55] {elepet} good morning

[08:55] {Threei}  elepet :)

[09:06] {Threei}  someone with deep pocket just woke up, turned computer on, fired up quotes, saw RIMM and grabbed all her could

[09:07] {magoo} how u know it was a woman?

[09:08] {cosmo} its a tradition

[09:08] {larisa} lol

[09:08] {cosmo} :)

[09:08] {Threei}  I don't... I just type he and hit r which is next to e on the keyboard

[09:08] {Threei}  or what cosmo said

[09:08] {cosmo} same thing

[09:09] {magoo} but u never hit "R" he he

[09:09] {patience} good morning RT  :)

[09:09] {Threei}  patience :)

[09:12] {KSystems} good morning!

[09:12] {Threei}  ks :)

[09:13] {_livia} good morning everybody

[09:13] {cujo} morning

[09:13] {Threei}  livia :)

[09:13] {Threei}  cujo :)

[09:13] {cujo} morning

[09:13] {Threei}  biggest question of today:

[09:14] {Threei}  was yesterday's selloff just a bervous reaction on a lack of details in Tim's plan

[09:14] {Threei}  or the market is seriously out of gas

[09:14] {Threei}  I tend to think former

[09:14] {Threei}  but let's watch it for the confirmation

[09:14] {Threei}  also, we have those bad bankers testifying today about how they wasted TARP I

[09:15] {Threei}  who knows what we hear from them

[09:15] {cosmo} banksters

[09:17] {cosmo} INSU healing  fwiw

[09:19] {cosmo} ... strong pre.mkt. technicals ....hehe

[09:19] {dptl} good morning all

[09:19] {pita} good morning troops

[09:21] {Threei}  dp, pita :)

[09:23] {Threei}  have smaller shares order prepared on RIMM in case something readable apears

[09:23] {magoo} me too

[09:24] {Threei}  so far 49.50 area has shaped up as support but opening panic could take it lower

[09:25] {Threei}  if there are a lot of MOOs pout there, they'll be taken advantage of

[09:25] {Threei}  pout = out

[09:26] {nemo} MOOs=herd cows

[09:26] {Threei}  pretty much

[09:26] {Threei}  market on open is technical definition :)

[09:26] {nemo} you'll see that reference in the book often

[09:26] {nemo} oh

[09:27] {vint} Good Morning all

[09:27] {Threei}  vint :)

[09:27] {Threei}  working assumption is so far: dive at the open on FAS and HIG, then quick rebound

[09:28] {Threei}  let's see if it materializes and if we can read the bottom

[09:28] {Threei}  don't route ARCA, laser traders

[09:28] {Threei}  use INET

[09:29] {nemo} is that Island

[09:29] {Threei}  yeah

[09:29] {Threei}  be patient, market is nervous

[09:29] {Threei}  better wait for our trades to come to us naturally than push

[09:30] {nemo} yeah, leading with my head has always hurt alot.

[09:30] {Threei}  HIG is selling

[09:31] {Threei}  wait for quick dive

[09:32] {Threei}  aslternatively, .50 break half lot, much riskier

[09:32] {_bobv} good morning

[09:32] {Threei}  bobov :)

[09:33] {Threei}  FAS sharp selling

[09:33] {Threei}  HIG too

[09:37] {nemo} Oh jeez...FAS

[09:37] {Threei}  HIG break setup is back

[09:38] {dino} sm l fdo .40

[09:39] {Threei}  FAS, quick drop under .50 for entry

[09:42] {dino} construction co. up

[09:48] {dino} rimm sm wide l .75

[09:48] {Threei}  if you took FAS on the dive to .50, half out here

[09:48] {Threei}  or just take scalp

[09:49] {dino} feels like +200 day

[09:50] {nemo} What's Larisa's opinion?

[09:50] {Threei}  feel free to take profit on HIG here if you took the break

[09:51] {Threei}  RIMM... feels like should lose 49.50

[09:51] {dino} sm dltr .65 l

[09:51] {Threei}  (FR) REPORTEDLY FRENCH GOV SEEKING TO REGULATE SALARIES OF TRADERS AND FINANCIAL OPERATORS

[09:51] {Threei}  I am not moving to France

[09:52] {Threei}  (CH) CHINESE REGULATOR: US TREASURIES REMAIN A SAVE HAVEN INVESTMENT

[09:52] {dino} obama on phone,"get me the ppt now!"

[09:52] {patience} but they're not buying anymore

[09:53] {Threei}  RIMM... one more quick leg down, and will be worth trying

[09:53] {dino} they are running out of money, hopefully they weren't buying yesterday, that would tell the tale

[09:54] {Threei}  for fast and furious only... and andrenalin-deprived

[09:54] {nemo} I'll mainline some valium

[09:54] {Threei}  closer to 49

[09:54] {Threei}  under most likely

[09:55] {Threei}  REPORTEDLY HOUSE AND SENATE MEMBERS TO MEET AT 3PM ET TO WORK ON STIMULUS PACKAGE

[09:56] {Threei}  BAC, watch for drop to 5.90 for long entry

[09:57] {Threei}  TARP BAILOUT WATCHDOG: HAS OPENED CRIMINAL INVESTIGATIONS, NOTES THAT LARGE AMOUNT OF FEDERAL BAILOUT FUNDING CREATES "CRIMINAL INCENTIVES"

[09:57] {Threei}  RIMM under 49

[09:58] {Threei}  accelerates

[09:58] {Threei}  if willing to make a few tries, get ready

[09:59] {magoo} .

[10:00] {Threei}  .50 crossback

[10:00] {Threei}  if holding .30

[10:00] {nemo} too late

[10:00] {Threei}  half out

[10:01] {Threei}  stop to under .50

[10:01] {magoo} out .90 TY

[10:01] {magoo} got 54

[10:01] {Threei}  wtg

[10:01] {cujo} nice

[10:01] {cujo} missed it :(

[10:02] {Threei}  {Threei} for fast and furious only... and andrenalin-deprived

[10:02] {Threei}  [09:54] {nemo} I'll mainline some valium

[10:02] {nemo} Guess it took effect to fast

[10:02] {cujo} yeah

[10:02] {Threei}  lol

[10:03] {larisa} does not look like capitulation still to me

[10:03] {larisa} guess i missed it :)

[10:06] {Threei}  BAC is holding well on this market dive

[10:08] {magoo} is barney bringin down the mkt jere?

[10:08] {cosmo} SVNT holds so far

[10:08] {magoo} here

[10:09] {Threei}  FAS, closer to .40 should be of interest again

[10:09] {cosmo} svnt... needs to hold .30

[10:12] {Threei}  ok... RIMM 48 break

[10:12] {magoo} in

[10:12] {cujo} in .05

[10:13] {Threei}  stop under .75 for now

[10:13] {Threei}  you remember it's a possible "multiple try" trade, right?

[10:15] {Threei}  market more weakness is holding it back

[10:15] {Threei}  by itself it's ready for a good bounce

[10:16] {nemo} after a fall like that probably needs to bounce on the bottom once or twice...then again wouldn't be the first time I was wrong today...or is that just "early" 

[10:16] {cujo} stopped

[10:16] {larisa} at least it tried to base this time

[10:17] {Threei}  it's ready

[10:17] {Threei}  just needs market to stop puking

[10:17] {Threei}  anyone took FAS under .50?

[10:23] {patience} out hgu (gold etf) +1.47

[10:25] {patience} foo, should have bought some silver wheaton as well, big move for it

[10:26] {larisa} nice patience :)

[10:27] {patience} ty, i keep thinking gold will pullback

[10:28] {dino}   dltr stopped

[10:29] {nemo} Vad, still have that RIMM bid for $1

[10:29] {magoo} this RIMM sell off is ridiculous

[10:29] {Threei}  volume starts drying up on RIMM

[10:30] {Threei}  watch market, RIMM has hard time going against it

[10:30] {Threei}  *DOE CRUDE: +4.7M V +2.6ME; GASOLINE: -2.6M V +500KE; DISTILLATES: -1M V -1.7ME;

[10:31] {nemo} what are gasoline futures doing?

[10:32] {patience} deciding

[10:32] {nemo} nice, patience...

[10:33] {patience} ok, puking

[10:33] {dino} 45 strike coming, rimm

[10:33] {dino} crazy

[10:33] {nemo} Geez what did the bankers say

[10:34] {cosmo} 'trick or treat'?

[10:34] {dino} rimm updates & raises guidance last month. analysts raise, now this month they say they will be at low end of raised guidance. so we sell it off 20%,

[10:35] {dino} anything (and everything) can happen

[10:35] {Threei}  RIMM HEARING LIGHTLY DEFENDED AT MERRILL/BOA (TIMING UNCERTAIN)

[10:35] {Threei}  lightly?

[10:35] {Threei}  not dropping with market anymore

[10:50] {Threei}  GS

[10:51] {Threei}  pullback under 93

[10:51] {Threei}  for long entry

[10:53] {Threei}  not much readable so far eh?

[10:55] {Threei}  are you all asleep?

[10:56] {cujo} tired...  but awake

[10:56] {nemo} no...just quiet

[10:56] {cujo} think i'm coming down with something... 

06[10:56] * nemo thinks Vad getting lonely

[10:57] {Threei} Long Setup:  STT  half lot .30

[10:57] {Threei}  too fast

[10:57] {nemo} yeah

[10:57] {Threei}  don't chase, watch for pullback

[10:58] {Threei}  support for a stop is .15

[11:00] {Threei}  GS is coming there

[11:02] {cujo} GS out +.20

[11:02] {cujo} thanks

[11:02] {Threei}  good reflexes

[11:02] {Threei}  OK, STT is back, watch market now

[11:03] {Threei}  stop is under .15 still, wether you chose afggressive entry or .30

[11:05] {Threei}  ECB'S STARK: PUBLIC FINANCES ARE A 'CONCERN' IN SOME MEMBER STATES, SOME EU FISCAL DEFICITS 'ALARMING'

[11:05] {Threei}  what's going on in europe...

[11:05] {Threei}  come on europians, share with us

[11:06] {nemo} your-a-peons?

[11:06] {nemo} sorry K

[11:06] {Threei}  STT lost support

[11:10] {magoo} time for my daily comment..."this market blows"

[11:11] {nemo} worthy of Charlie Gasparino

[11:11] {Threei}  for now

[11:11] {Threei}  quite a shock yesterday, still a lot of nervousness out there

[11:11] {Threei}  view it as some kind of churning

[11:12] {Threei}  just have to digest a lot of things before getting free

[11:12] {Threei}  all this bickering in Washington is not helful

[11:13] {cujo} think i'm going to pack it in for the day.  Have a good one guys.  

[11:14] {ese} blows what?

[11:14] {nemo} oh jeez are we bored?

[11:15] {Threei}  take care cujo

[11:15] {_bobv} guys, do you think maybe this is typical climax for a market bottom?

[11:15] {magoo} nope

[11:16] {magoo} im just looking foe a couple weeks BEAR mkt 'ally

[11:16] {Threei}  WSJ: WHITE AND CONGRESS ARE NEARING AGREEMENT ON A SMALLER STIMULUS PACKAGE NEAR $790B

[11:17] {Threei}  FAS, pullback into 8.70 for long entry

[11:19] {magoo} vader, any read AAPL?

[11:20] {Threei}  pullback under .50, I'd get interested... most likely .35-.40 area

[11:21] {Threei}  US TREASURY'S GEITHNER: UNDERSTANDS CONCERNS OVER LACK OF DETAIL, DOES NTO WANT TO 'RUSH PROPOSALS'

[11:21] {Threei}  no rush?? but don't we face catastrophe if we don't act TODAY?

[11:22] {_bobv} what a disaster

[11:22] {Threei}  HIG, pullback to about .50 for long entry

[11:26] {Threei}  ok, really pullback time

[11:26] {Threei}  for the world of me I can't make myself buy breakouts today

[11:29] {Threei}  US HOUSE AGRICULTURE CHAIR: CFTC SHOULD BE ABLE SUSPEND NAKED CDS SWAPS, PROVIDE REGULATORS CRIMINAL PROSECUTORIAL AUTHORITY

[11:29] {magoo} cant imagine why:)

[11:30] {magoo} out STT .75 TY

[11:30] {dino} gj

[11:30] {Threei}  what do you know... no pullbacks

[11:31] {nemo} after the slam down yesterday it doesn't want to go further

[11:33] {magoo} volume on the up spike vad....less on pullbk in Q

[11:35] {Threei}  FAS under 8.90

[11:39] {Threei}  sharper dive is coming it seems

[11:40] {Threei}  here it is

[11:40] {Threei}  FAS to about .80

[11:40] {Threei}  and HIG .60

[11:42] {dino} out fdo .84 +.44

[11:48] {Threei}  CONGRESSIONAL AIDE: ECONOMIC STIMULUS BILL TO TRIM TAX CREDIT TO $400/PERSON, 'BUY AMERICAN' UNDER REVIEW AND STILL IN NEGOTIATIONS

[11:48] {Threei}  - Sees stimulus bill at approx $790-800B

[11:48] {nemo} A congressional aide? BFD

[11:54] {Threei}  SENATE FINANCIAL BAILOUT BILL WOULD RESTRICT EXECUTIVE PAY TO $400K FOR ANY EMPLOYEE, NOT JUST TOP EXECUTIVES - WSJ

[11:56] {dino}  it's really a non-issue as options grants are unaffected

[11:59] {Threei}  WHITE HOUSE SPOKESMAN: GOOD PROGRESS IS BEING MADE ON NEGOTIATIONS OVER FINAL STIMULUS BILL

[12:00] {Threei}  feels like pullback is over and market is ready to resume upward

[12:03] {Threei}  WSJ: HOUSE MAY FORMALLY INTRODUCE COMPROMISE BILL TODAY FOR A FINAL VOTE TOMMOROW, SENATE LEADER REID TO PUSH FOR FINAL PASSAGE OVER THE WEEKEND

[12:04] {Threei}  GM

[12:04] {Threei}  TO REPORTEDLY END CERTAIN HEALTH CARE BENEFITS TO RETIREES NOW ELIGIBLE FOR MEDICARE

[12:04] {dawg} RIMM in .37 out .52  for crissake

[12:05] {Threei}  :)

[12:05] {Threei}  if my feel is right FAS should go back closer to 9

[12:05] {dawg} ).

[12:05] {dino}  gj dawg

[12:05] {dawg} ty dino

[12:06] {Threei}  in .83, stop .75

06[12:09] * Threei kicks FAS in the rear

[12:11] {Threei}  CHRYSLER REPORTEDLY IN DISCUSSIONS WITH BANKERS ABOUT A DEBT FOR EQUITY SWAP TO BE COMPLETED BEFORE FEB 17 - UNCONFIRMED REPORT

06[12:12] * Threei repeatedly kicks FAS in the rear

[12:12] {larisa} do not hurt your leg

06[12:13] * Threei kicks FAS in the rear with steel toe heavy duty army boots

[12:13] {Threei}  oops... I think I got the wrong side

[12:14] {larisa} stopped out HIG, did not take +.10. looks like no chance to get more than that today

[12:14] {Threei}  no kidding

[12:14] {Threei}  some new soundbite from somewhere

[12:15] {nemo} martians invading

[12:15] {Threei}  out FAS

[12:19] {dino} rate

[12:20] {vint} market has no direction today

[12:20] {Threei}  nope

[12:20] {Threei}  digests yesterday's shock

[12:21] {Threei}  and is pretty much lost about what's next

[12:22] {vint} will wait and watch

[12:25] {vint} Vad- could RIMM break up if mkt goes up? based on 5 mt chart

[12:26] {vint} or it will continuew prior trend-down

[12:26] {dino} indeed

[12:26] {dino} up

[12:26] {Threei}  I believe so vint

[12:27] {Threei}  market help though is fleeting thing today

[12:29] {Threei}  MOODY'S: US FINANCIAL STABILITY PROGRAM IS A 'POSITIVE' FOR US BANKS

[12:33] {pita} later all - hope mkt starts trending for you

[12:34] {Threei}  take care pita, dismal day

[12:44] {Threei}  sharp pullback RIMM

[12:44] {dino} axys blood

[12:48] {dino} risky sm l .45

[12:52] {Threei}  REPORTEDLY A MAGNITUDE 7.5 EARTHQUAKE REPORTED OFF THE COAST OF INDONESIA

[12:52] {Threei}  - Tsunami alert issued{TAYD }

[12:52] {magoo} this no bounce whartsoever in rimm blkows my mind

[12:55] {Threei}  holding well here

[12:56] {Threei}  watch for pullback entry

[12:58] {magoo} i mean..like a 4 point bnounce

[12:58] {magoo} to 51 ..52

[12:59] {Threei}  not in this market

[13:00] {Threei}  FED'S EVANS: US GDP WILL LIKELY FALL CONSIDERABLY IN THE FIRST HALF OF 2009, MAY BEGIN RISING AGAIN IN 2010

[13:01] {nemo} You mean they don't know?

[13:06] {dino}  blah, ba blah, ba blah...or as elaine would say "yada yadda"

[13:07] {Threei}  .56 RIMM long

[13:07] {vint} in .56

[13:07] {Threei}  .45 stop

[13:07] {Threei}  jeez

[13:08] {Threei}  get me out of here

[13:08] {vint} wow

06[13:08] * nemo hands Vad a 2 litre bottle of Grey Goose w/intravenous

[13:08] {Threei}  who said what where?

[13:09] {nemo} Here's a cultural reference, "Was that one lump or two?"

[13:10] {Threei}  market literally trips of itself

[13:10] {larisa} hey! 0.05 bounces DO work! :)

[13:10] {larisa} lol

[13:10] {Threei}  uhhu

[13:14] {Threei}  today I will have to side with magoo

[13:14] {Threei}  frustrating market

[13:14] {Threei}  but mags, it's a one time deal

[13:14] {magoo} vad..yesterday suk too

[13:14] {Threei}  next time I agree with you on anything is going to be in 2010

[13:14] {magoo} 2 winners in first 10 mins..thats it

[13:15] {nemo} there have definitely been more suck days since the beginning of the year.  It's averaging about 2 a week

[13:16] {nemo} Then again the other three have been killings, and, if I remember correctly...it was home run day after homerun day in the Fall

[13:16] {dptl} gonna finish on positive note...and see ya all tomorrow...have a good one all..

06[13:16] * Threei slaps dptl around a bit with a large roll of cash

[13:16] {magoo} u 2 dp

[13:16] {dptl} :)

[13:17] {Threei}  what kind of friend are you really

[13:17] {patience} this chaos has been good for my trading style

[13:17] {Threei}  we are suffering here, and he not only leaves but leaves with profit

[13:17] {nemo} Reminds me of a Steve Miller song...

[13:18] {dptl} :)

[13:21] {patience} back in hgu

[13:22] {larisa} patience, go on vacation, so chaos can stop for a while :)

[13:23] {patience} vad, take me to the bahamas please

[13:23] {larisa} lol

[13:23] {_bobv} jajaja

[13:23] {Threei}  that's a market for your trading stykle, not mine... so who is taking who

[13:24] {patience} i have so many more mouths to feed though

[13:31] {Threei}  uh oh

[13:31] {Threei}  Muzak filed for bankruptsy

[13:31] {Threei}  the only kind of music I understand...

[13:31] {nemo} Thank God!

[13:31] {patience} you are going to start singing in the elevator now?

[13:31] {Threei}  I hope they don't sop playing it in elevators

[13:33] {Threei}  if Lego goes out of business, I'll be left with no enetrtainment at all

[13:34] {Threei}  of course there are those books where you need to paint within the lines... but I have troubles with those

[13:35] {magoo} this mkts going RED

[13:43] {Threei}  IMF: NOT CHANGING GOLD SALE PLANS

[13:43] {Threei}  - Reminder on 4/7/08 IMF Board backed plan to sell 403.3 Tons from Gold holdings, sales would require approval from US Congress

[13:43] {Threei}  almost there... DJI is last one green

[13:44] {Threei}  PREVIEW: JAN MONTHLY BUDGET STATEMENT DUE OUT AT 2PMET

[13:44] {Threei}  **consensus expectation: -$78.0Be v +17.8B prior

[13:44] {larisa} cmon market, life is good and spring is coming! :)

[13:44] {dino} axys stopped

[13:45] {nemo} Miss sunshine

[13:45] {larisa} ty:)

[13:46] {Threei}  US SEN LIEBERMAN: SENATE BILL MAY CUT HOME BUYING TAX CREDIT TO $7,500 FROM $15,000

[13:46] {Threei}  great

[13:46] {Threei}  DJI red

[13:46] {Threei}  seems every time these guys open thier mouth it's a new whack on the market

[13:53] {dawg} RIMM in .98 out .10 small shares for crissake

[13:54] {Threei}  did the same, only with 1000... for the same reason

[13:54] {dawg} wtg Vadster

[13:54] {nemo} The Darkside strikes back!

[13:56] {cosmo} NICE wants more ... if she breaks 21.90

[13:56] {Threei}  AMZN, half lot short .60 break

[13:56] {Threei}  if stays below .70

[13:58] {Threei}  S&P REVISES U.S. SUBPRIME AND PRIME RMBS LOSS ASSUMPTIONS

[13:58] {Threei}  - Due to the generally poor outlook for the U.S. housing market, increased delinquencies and defaults, and residential inventory buildup, Standard & Poor''s is projecting that the underlying mortgage pools supporting subprime RMBS transactions issued in 2006 will experience aggregate cumulative losses ranging from 23% to 27% of the original principal balance, with an average of approximately 25%, and pools supporting transactions issued in 2007 will experience aggregate cumulative losses ranging from 28% to 32%, with an average of approximately 31%.

[13:59] {Threei}  5 cents, today's profit range per larisa

[14:00] {Threei}  JAN MONTHLY BUDGET STATEMENT: -$83.8B V -$78.0BE

[14:00] {Threei}  yikes

[14:03] {Threei}  AMZN 1:1 for crissssssake

[14:04] {dawg} )}

[14:04] {Threei}  lol

[14:04] {dawg} me too

[14:05] {Threei}  hawk, look dcc please

[14:05] {Threei}  market isn't dropping on that?...

[14:05] {nemo} it's been talked about forever

[14:09] {cosmo} NICE salmon

[14:10] {cosmo} well schooled

[14:11] {nemo} cute cosmo

[14:11] {cosmo} they have to be...

[14:12] {nemo} naother leg down coming?

[14:13] {Threei}  most likely

[14:15] {Threei}  looks like panic selloff in the making

[14:15] {Threei}  RIMM is likely to make new lows

[14:17] {Threei}  -10... what a carnage on RIMM

[14:18] {Threei}  laserdave, dcc

[14:28] {Threei}  sheesh

[14:28] {Threei}  anyone can read this?? :)

[14:28] {dawg} caugt spike in RIMM .91 to .38 small shares

[14:28] {Threei}  wow

[14:28] {Threei}  nice!

[14:28] {dawg} ).

[14:30] {Threei}  no way in the world I could see this spike coming

[14:31] {wulff} need to put your spikey hat on

[14:32] {Threei}  but, ever since I put spikes on inner side, it hurts

[14:32] {dawg} lol

[14:34] {wulff} kind of neutral here

[14:35] {Threei}  .50 break on RIMM?

[14:35] {Threei}  dawg?

[14:36] {dawg} i'll man up for that Vad

[14:37] {Threei}  not breaking yet... but trying

[14:37] {dawg} ).

[14:40] {wulff} c'mon girl

[14:40] {magoo} resort to violence vad

[14:40] {nemo} whip the bitch

[14:41] {nemo} oooh....sorry...got a little carried away

[14:41] {wulff} who has the spikey hat on?

[14:42] {Threei}  can you believe this?

[14:42] {nemo} reality sucks

[14:43] {magoo} it will rinse us..then pop 3 points

[14:43] {Threei}  anyway, this pullback gave us support level for a stop

[14:43] {magoo} in

[14:43] {dawg} in

[14:44] {wulff} allready in

[14:44] {Threei}  1:1 was easy

[14:44] {Threei}  can it do more, no idea

[14:45] {Threei}  half out .67

[14:46] {wulff} scalp

[14:48] {magoo} stock down 10 points..cant even get 20 cents

[14:51] {magoo} WHOOOOOOOHHOOO

[14:51] {Threei}  SENATE MAJORITY LEADER REID: NEGOTIATORS HAVE REACHED A DEAL ON STIMULUS BILL

[14:51] {dawg} out if full

[14:51] {Threei}  no

[14:51] {Threei}  I am tired of it

[14:51] {Threei}  I am holding

[14:51] {Threei}  .45 stop

[14:51] {Threei}  and I want it over 48

[14:51] {magoo} look at that spike

[14:52] {Threei}  that's a good spike

[14:55] {wulff} somebody put the hat away

[14:55] {Threei}  yessssss

[14:56] {Threei}  my a$$ is out 48.15

[14:56] {Threei}  +63

[14:56] {Threei}  .63

[14:56] {magoo} me too .13 YYYYYYYYYYYEEEEEEEEE

[14:56] {magoo} biggest gain of year

[14:56] {Threei}  jeez... took all day to get one worthy trade!

[14:57] {magoo} stay focused boss

[14:57] {Threei}  but it made day positive

[14:57] {nemo} yeah...well get your arm back over your shoulder

[15:03] {dino} lol only about 135 to go

[15:04] {nemo} looks like the euphoria might be wearing off

[15:05] {dino} chatter about m2m coming out again

[15:05] {cosmo} NICE test at 22.19

[15:09] {dawg} RIMM in .20 break out .38 small shares

[15:09] {Threei}  don't overdo it... market retreats :)

[15:09] {dawg} OK i'm done for the day

[15:14] {dino} gj dawg

[15:15] {magoo} GS takethe high vad?

[15:15] {dawg} ty dino

[15:15] {Threei}  feels so mags...

[15:15] {magoo} to me too

[15:16] {magoo} mkt help of course

[15:16] {patience} vad, is today a heavier volume day?  ty

[15:17] {Threei}  vs yesterday? no

[15:17] {wulff} go PALM

[15:17] {magoo} in out GS .22 - .61

[15:17] {magoo} that fast

[15:22] {Threei}  wait

[15:22] {Threei}  what do you mean saying

[15:22] {Threei}  [14:56] {magoo} biggest gain of year

[15:23] {Threei}  we had bigger trades

[15:23] {dino} not magoo 3i

[15:23] {Threei}  where was he then

[15:23] {magoo} how come no comment on my GS

[15:24] {magoo} asked u..took it

[15:24] {magoo} +.39

[15:24] {Threei}  well... we were jealous

[15:24] {Threei}  so we ignored you

[15:24] {magoo} oh..i can relate to that

[15:24] {Threei}  :)

[15:25] {dino} where is he ever

[15:28] {dino} xl

[15:29] {Threei}  important how we close this day

[15:30] {Threei}  if with rally, it bodes well for a very strong day tomorrow

[15:31] {magoo} if IF buyers show up...RIMM should see 49

[15:32] {wulff} sensei, anything in particular that made you keep RIMM for more than a scalp?

[15:32] {dino} if...a word in the middle of life

[15:32] {magoo} also in middle of..nifwitt

[15:34] {Threei}  couple things wulff

[15:34] {Threei}  one of course was it being down so much for what just doesn't seem to be any valid reason

[15:35] {Threei}  I meant haircut is fine,

[15:35] {Threei}  but beheading for merely return to normal sales after holiday spike?

[15:35] {Threei}  so there was kind of loaded spring in it

[15:35] {magoo} and not even 1 pre bounce before his call

[15:35] {Threei}  right

[15:36] {dino} rimm trades to 52 tomorrow

[15:36] {Threei}  and another, that .50 resistance,

[15:36] {Threei}  it held for so long absorbing so much buying

[15:36] {wulff} ok

[15:36] {Threei}  usually when a seller is finally steamrolled in such cases, stock has nice p;otential

[15:36] {Threei}  big seller is finally done

[15:37] {magoo} mr miogi

[15:37] {Threei}  providing he isn't back with more of course, lol

[15:37] {Threei}  but more often that's the end of a big chunck of selling

[15:37] {wulff} dump truck selling

[15:37] {Threei}  yes

[15:37] {Threei}  the concept here is,

[15:37] {magoo} 15:37] {magoo} mr miogi

[15:37] {Threei}  he has some huge block to sell,

[15:37] {magoo} how u know so much:)?

[15:38] {Threei}  so he is looking for a certain point

[15:38] {Threei}  where buyers are wqilling to take a lot

[15:38] {Threei}  he isn't lifting because he is not confident buyers will chanse,

[15:38] {dino} 3:40ish spike up coming

[15:38] {Threei}  and because at higher prices he will have more competition from other sellers,

[15:38] {magoo} its been real late dino...3:43

[15:39] {Threei}  so this equilibrium he found is kind of ideal combination: not many other sellers, and buyers are taking all he has

[15:39] {magoo} which stock vad??HE HE

[15:39] {wulff} complex

[15:39] {Threei}  we had similar situation last week or mabe one before that

[15:39] {Threei}  don't remember stockj

[15:39] {Threei}  hawk was with me on it

[15:39] {Threei}  I remember price... .15

[15:40] {magoo} palm

[15:40] {magoo} popped to .80

[15:40] {Threei}  seller just wouldn't budge, no matter how much buyers took

[15:40] {Threei}  then he was finallyu out, and a stock was up 20 cents or so in a blink of eye

[15:40] {wulff} seller meaning at the "ask"?

[15:40] {Threei}  right

[15:41] {Threei}  I remember that was ARCA

[15:42] {Threei}  what you want to see in such cases is stock pulling back shallowly from the resistance, immediately rreturning, hitting offer again and again

[15:42] {Threei}  exactly what you saw on RIMM today

[15:42] {Threei}  also, it's usually one guy

[15:43] {Threei}  all tohers are eliminated, he is holding the fortress singlehandedly

[15:43] {Threei}  while he is sitting there, some return to sell with him and get taken out right away, and he is alone again

[15:44] {Threei}  almoast always he is using reserve

[15:44] {wulff} yup

[15:44] {Threei}  all you see is 100-200 shares

[15:45] {larisa} stubborn stock was STT with seller at 23.15 :)

[15:45] {Threei}  wow.. thank you :)

[15:45] {larisa} yw

[15:46] {Threei}  you remember? or found it somewhere?

[15:46] {larisa} my notes

[15:46] {larisa} febr 03 

[15:46] {Threei}  okay then... makes me feel better that it's not my memory (which is admittedly barely enough to remember my name in the morning)

[15:47] {Threei}  but makes me think, I am being watched and documented

[15:47] {larisa} absolutely

[15:47] {Threei}  RIMM really trying

[15:56] {Threei}  CEOS AT CONGRESSIONAL HEARING WITH EXCEPTION OF CITIGROUP'S PANDIT NOTE THEY DO NOT PLANT O SEEK ADDITIONAL TARP CAPITAL

[15:56] {dino} good

[15:59] {Threei}  FAS is closing almost at high

[16:00] {wulff} ty for the education

[16:00] {Threei}  always

[16:00] {magoo} rough day..but green..tired

[16:00] {Threei}  okay guys

[16:00] {magoo} ty sensei

[16:00] {Threei}  tired but overall not unhappy with this day

[16:00] {nemo} P&Q

[16:00] {magoo} yup

[16:00] {magoo} gotta hunt all day

[16:00] {Threei}  thank you all for your patience

[16:00] {magoo} never know what shows up

[16:00] {Threei}  takes a lot of it to wait out unfavorable market

06[16:00] * larisa slaps Threei around a bit with a large trout

[16:01] {Threei}  hmmm

[16:01] {larisa} had to vent

[16:01] {Threei}  what was that for?

[16:01] {Threei}  oh

[16:01] {Threei}  kay then

[16:01] {Threei}  feel free

[16:01] {larisa} :)

[16:01] {Threei}  just send me something for bruises

[16:01] {larisa} lol

[16:01] {Threei}  have a good evening, see you tomorrow

[16:02] {vint} good evening Vad, see you tomorrow

[16:02] {vint} bye all

[16:02] {Threei}  yoo too