Feb 18 2009

The day started rather slow with flat trade and a small stop, then picked up with 40 cents profit on CAT short, RIMM, HIG and STT longs, and some other scalps scattered here and there. Still staying picky and careful.

Session Time: Wed Feb 18 00:00:00 2009

[07:57] {Threei}  Good morning

[07:57] {Threei}  GM

[07:57] {Threei}  CEO WAGNER: THE $30B REQUEST IS FOR WORST-CASE SCENARIO, TOOK CONSERVATIVE VIEW TO VIABILITY PLAN - CNBC

[07:57] {Threei}  - Current funding request is "pretty much in line with prior request."

[07:57] {Threei}  - New UAW deal makes labor costs more competitive with foreign automakers.{F}

[07:57] {nemo} Top o' the mornin' to ya"!

[07:57] {Threei}  Russian exchange halted again?

[07:58] {nemo} mafia

[08:08] {magoo} morning

[08:09] {nemo} mornin' mags

[08:09] {Threei}  magoo :)

[08:10] {magoo} can someone walk me thru downkload of new room mirc now while we are not busy?

[08:11] {Threei}  KS?

[08:11] {magoo} the caddress is no longer on real money i believe also

[08:11] {Threei}  who?

[08:11] {magoo} the mirc download address

[08:12] {Threei}  what does realmoney have to do with it?

[08:12] {magoo} thats where u had the ling to mirc

[08:13] {Threei}  mags... are you drinking that early?

[08:13] {Threei}  what do I have to do with realmoney, or ever did?

[08:13] {magoo} OH SHIT LOL

[08:14] {magoo} ROFLOL

[08:14] {Threei}  http://www.realitytrader.com/tradingroom/

[08:14] {Threei}  scroll down

[08:14] {Threei}  all instructions are in place

[08:14] {Threei}  but dcc KS first

[08:15] {Threei}  my assumption is, before installing new mirc you need to eliminate old one

[08:15] {Threei}  otherwise settings are getting copied

[08:16] {magoo} how i dcc in this room again?

[08:16] {Threei}  ummm... doubleclick on the nick?

[08:16] {Threei}  BALTIC DRY BULK INDEX RISES 4.8%; SECOND STRAIGHT RISE

[08:20] {Threei}  QCOM CEO: SEEING OPPORTUNITIES FOR ACQUISITIONS AND INVESTMENTS

[08:30] {Threei}  JAN IMPORT PRICE INDEX M/M: -1.1% V -1.2%E

[08:30] {Threei}  Y/Y: -12.5% V -11.2%E

[08:30] {cujo} good morning

[08:30] {Threei}  JAN HOUSING STARTS:466K V 529KE; BUILDING PERMITS: 521K V 525KE

[08:30] {Threei}  cujo :)

[08:32] {Threei}  Import prices - Prior MoM revised from -1.2% to -5.0%

[08:32] {Threei}  - Prior YoY revised from -9.3% to -10.3%

[08:35] {larisa} good morning

[08:35] {Threei}  larisa :)

[08:35] {larisa} threei :)

[08:37] {elepet} good morning from sunny mexico

[08:37] {Threei}  elepet :)

[08:41] {nemo} bad news:  http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.1068.IH:

[08:45] {Onix} gm all

[08:45] {Threei}  onix :)

[08:49] {hawkfan4} good morning

[08:50] {Threei}  hawk :)

[08:55] {dino} gm all

[08:55] {Threei}  dino :)

[08:56] {Threei}  sigh

[08:56] {Threei}  FED'S PINALTO: CURRENT ECONOMIC SITUATION IS 'HISTORIC AND UNPRECEDENTED'

[08:56] {Threei}  TURMOIL NOT LIMITED TO US

[08:56] {Threei}  double sigh

[08:57] {hawkfan4} im learning so much so early in the day...

[08:57] {Threei}  yes

[08:57] {Threei}  good thing they share all this highly classified information with us

[08:58] {dino} it's shocking (like they haven't said it every day since september), 

[08:58] {Threei}  hell is repetition

[08:59] {Threei}  also, I appreciate them being considerate enough to repeat it 183 times just for me - I usually start remembering things after 180th time

[09:00] {dino} give me what i want and i'll go away

[09:01] {Threei}  TREASURY SEC GEITHNER: TREASURY WILL INCREASES GSE LOAN REFINANCING BY UP TO $400B

[09:02] {Threei}  FED'S PIANALTO: WORRIED ABOUT 'UNWELCOMED DISINFLATION'

[09:02] {Threei}  - Economy was substantially worsened, turmoil not limited to US

[09:02] {Threei}  - Not expecting economy to improve until housing, financial markets stabilize

[09:02] {Threei}  - Sees dramatic decline in GDP during H1 2009; expects a modest upturn in US growth during H2 2009.

[09:02] {Threei}  - Unemployment will probably rise throughout this year.

[09:04] {nemo} look at FAS

[09:05] {dino} "no aid for speculators" obama plan

[09:06] {dino} when did capitalism become the enemy

[09:09] {Threei}  be back in 5

[09:10] {fernp} Hello everybody

[09:11] {dptl} good morning all

[09:11] {fernp} hi dp

[09:11] {hawkfan4} morning

[09:15] {Threei}  fern, dp :)

[09:16] {Threei}  today is promising to be considerably tougher read, with expectations for financial plan announced

[09:17] {Threei}  AN INDUSTRIAL PRODUCTION: -1.8% V -1.5%E; CAPACITY UTILIZATION: 72% V 72.4%E

[09:17] {Threei}  - prior Industrial Production revised from -2.0% to -2.4%

[09:17] {Threei}  going to stay picky

[09:17] {ese} morning

[09:17] {Threei}  ese :)

[09:19] {Threei}  first course of action looks to be looking to buy pullback to scalp the bounce

[09:19] {Threei}  then we will see what transpires

[09:19] {ese} don't know which way is "up" or  "down" these days....mostly watching you all...not doing much trading 

[09:20] {Threei}  TREASURY SEC GEITHNER: TREASURY WILL INCREASE GSE LOAN REFINANCING BY UP TO $400B, BELIEVES STRENGTHENING GSES WILL MAKE MORTGAGES MORE AFFORDABLE

[09:20] {Threei}  - GSE mortgage portfolios will be boosted by $50B each to a total of $900B

[09:20] {Threei}  - Purchase agreements amended to $200B from $100B

[09:20] {Threei}  - Launches $75B stability initiative, for owner-occupied homes

[09:20] {Threei}  - Plan seeks to help 7M-9M homeowners avoid foreclosure

[09:20] {Threei}  - Allows for 4M-5M home refis and targets another 3M-4M "at risk" homeowners

[09:20] {ese} smokin busy doing shows with my high school R&B band....got one tonight for the education facultyies of all the universities across canada

[09:21] {Threei}  cool ese :)

[09:21] {Threei}  let's teach them to rade also

[09:21] {Threei}  trade

[09:21] {ese} thats a good idea

[09:22] {cosmo} i'll trade an old trombone mouthpeice for some drum sticks...

[09:22] {ese} lots of cut backs in fine arts even at the post secondary level....

[09:24] {ese} my group is very high performance in what it does and so the unive of Victoria wanted to show them off as a " what you stand to loose if these cutbacks continues"

[09:27] {ese} anyway....hard to concentrate on trading

[09:28] {ese} hows everbody else doin though......

[09:28] {dino} have fun w/it es

[09:30] {Threei}  FAS, will be interested in pullback to about 6.15

[09:31] {ese} tks dino

[09:32] {Threei}  stop would be under 6, so let's try to cach it if it dives under 6.20 quickly

[09:34] {hawkfan4} watching SQNM pullback

[09:35] {Threei}  in

[09:35] {Threei}  .16

[09:35] {Threei}  for scalpers stop under 6.10

[09:36] {Threei}  half out .25

[09:37] {dino} markets not liking interference in contract law/mortgages

[09:37] {KSystems} there you go mags

[09:37] {KSystems} Congrats :-)

[09:37] {KSystems} poh no

[09:37] {KSystems} your back with mibbit?

[09:38] {Threei}  out balance

[09:38] {Onix} stopped

[09:39] {Threei}  wash... +.09, -.07

[09:39] {KSystems} better?

[09:39] {magoo} AM I HERE?

[09:39] {KSystems} yep

[09:40] {Threei} Short Setup: HIG  .25 break

[09:40] {Threei}  stop above .40

[09:40] {nemo} too fast

[09:40] {Threei}  bouncing into trigger

[09:42] {Onix} stopped hig

[09:43] {fernp} stopped

[09:44] {dino} itri sm l .90

[09:44] {dino} whippy one

[09:49] {dino} stopped itri -.35

[09:49] {Threei}  FAS dive under 6.10 worth a try for double bottom

[09:51] {Threei}  stop under 6

[09:54] {dino} vz sm l .20

[09:55] {Threei}  GERN

[09:55] {Threei}  STEM CELL RELATED STOCKS LOWER TODAY AFTER REPORT OF SEVERE SIDE EFFECT FROM ONE STEM CELL TREATMENT CASE

[09:55] {Threei}  - according to today's report, a patient in Israel being treated for a genetic disorder was being injected with fetal stem cells and developed tumors in his brain directly related to the treatment.

[09:58] {dptl} hey Hawkfan....are you using esignal with laser?

[09:58] {hawkfan4} yes

[09:59] {dptl} are they working fine together last couple of days?

[10:00] {hawkfan4} yeah, no problems with it here

[10:01] {Threei}  CAT yesterday's low is 28.52

[10:01] {Threei}  watching bounce

[10:01] {Threei}  if forms the high close enough for a tight stop, .50 will be a short trigger

[10:01] {dptl} ok ty hawk....mine are start shuting down the system if they are open together... wierd

[10:02] {Threei}  what do you use esignal for?

[10:02] {hawkfan4} hmm, that is wierd. charts

[10:02] {Threei}  duh

[10:02] {Threei}  lol

[10:03] {hawkfan4} :) 

[10:03] {Threei}  didn't think you fried eggs on it

[10:03] {dino} rimm gap filled

[10:03] {Threei}  .65 holding so far as CAT's resistance

[10:04] {Threei}  lert's make it invalidating level

[10:07] {fernp} out ACAS +.10 CIT +.20 and AA +.20 (all shorts)

[10:08] {Threei}  HIG, couldn't you do that when we shorted you?

[10:08] {Threei}  CAT 1:1, cover half or scalp, at your discretion

[10:08] {Threei}  nice scalping footwork, fern

[10:08] {fernp} ty

[10:09] {Threei}  stop to just above breakeven for other half

[10:09] {dino} cramer pushing and buying gold on his site; possible top in the making

[10:09] {Onix} ty Vad, got some in CAT

[10:09] {Threei}  1:2, 1/4 more out

[10:10] {Threei}  stop is still above .50 for the last portion

[10:11] {hawkfan4} SQNM .51 break, under .40, whippy

[10:11] {Threei}  out CAT in full

[10:11] {Threei}  1:3

[10:11] {hawkfan4} stop under .40 if it triggers

[10:11] {Threei}  direct hit

[10:11] {Threei}  +.45

[10:12] {hawkfan4} nice one

[10:12] {Onix} beautiful

[10:12] {dino} 7449, 1018, 741

[10:12] {Threei}  HIG was so supposed to do the same

[10:12] {Threei}  getting a bit overstrethced

[10:14] {Threei}  sheesh... covered CAT too soon again

[10:15] {Threei}  HIG .50 break long half lot

06[10:15] * magoo slaps Threei around a bit with a large trout

[10:15] {Threei}  if stays above .40

[10:16] {Threei}  what was that for?

[10:17] {magoo} just seeing if had the good slap program

[10:17] {magoo} do not  now

[10:21] {Threei}  let's trail HIG to .45

[10:21] {Threei}  it touched 1:1 earlier but way too ffast

[10:22] {Threei}  unless you had sell order in, no way you'd catch that

[10:22] {magoo} waiting .87 here 

[10:22] {Threei}  greedy aren't we

[10:22] {magoo} as always..whats changed lol

[10:23] {hawkfan4} .869 here

[10:23] {Threei}  nothing, excpet you don't have those creative slaps anymore {G}

[10:23] {Threei}  over 1:1, half out or scalp

06[10:24] * nemo slaps Magoo with a hahahahah turnabout is fair play

[10:25] {magoo} i knew some paybk was coming he he

[10:29] {Threei}  elepet, you liquidated your PALM on that march into 9 and above, right?

[10:29] {fernp} where's the stop .45?

[10:30] {Threei}  for HIG?

[10:30] {Threei}  yeah

[10:31] {fernp} ty

[10:31] {Threei}  with next break of .60, trail to just under .50

[10:32] {Threei}  let it spike into magoo.hawk sell zone and make sure you undercut them by .00001

[10:32] {hawkfan4} you know it :)

[10:32] {Threei}  hehe

[10:33] {Threei}  gotta use this favorable moment while magoo is unarmed

06[10:33] * Threei slaps magoo around a bit with a large sell order undercutting magoo's one by 1/zillionth of a cent

06[10:33] * nemo pulls magoo's network cable

[10:34] {Threei}  1:2 HIG

[10:34] {nemo} I think we're ganging up on him

[10:34] {Threei}  and it's bad why?

[10:35] {Threei}  when he has those fancy slaps, he gangs up on the whole room - don't know how he manages to do that alone but he does

[10:35] {nemo} I stated a fact, not a judgement.  I fully believe in kicking a man when he's down.  Because, if he gets up, he might start kicking you!

[10:35] {magoo} u guys :)

[10:36] {Threei}  OK, HIG and FAS scalps compensated initial HIG stop, and CAT profit keeps the day in black

[10:36] {Threei}  nothing outstanding

[10:37] {Threei}  but better than poke in the eye

[10:37] {nemo} Well, at least I have a nice view of the ocean this week

[10:37] {nemo} Snow storm coming in tonight though

[10:37] {Threei}  yikes

[10:38] {larisa} make sure horses are warm :)

[10:38] {nemo} They're in the barn...supposed to get a foot...if it changes over to freezing rain...I probably won't be here tomorrow

[10:40] {larisa} rain here and expect 4" of snow. February :)

[10:40] {magoo} where u at nemo?

[10:41] {Threei}  in a fedw months after I moved to Victoria I heard a phrase here that sounded like total oxymoron to me:

[10:41] {Threei}  "on a hot February day"...

[10:41] {nemo} Harpswell, Maine

[10:41] {Threei}  sounds normal to me now

[10:41] {nemo} Now there's an oxymoron   Vad and "normal"

[10:41] {magoo} oh..main

[10:41] {Threei}  lol

[10:42] {nemo} stuck your chin out,dude.  Had to whack it.

[10:42] {Threei}  my first impulse was to take severe umbrage... then I decided why pretend

[10:42] {nemo} dilligaf

[10:43] {Threei}  there is not much normal about a guy for whom bacon is weight loss diet

[10:43] {magoo} u had to mention bacon? now i gotta have it

[10:43] {nemo} Yeah, makes me hungry too

[10:44] {nemo} Got home slaughtered pork and bacon in the freezer

[10:45] {Threei}  what's with TSYS

[10:45] {Threei}  what is normal about a stock that makes 52 week highs in this market

[10:49] {hawkfan4} 05-Feb-09 16:11 ET In Play TeleComm Sys beats by $0.04, beats on revs (7.25 ) : Reports Q4 (Dec) EBITDA per share of $0.15 per share, $0.04 better than the First Call consensus of $0.11; revenues rose 113.7% year/year to $79.3 mln vs the $61.9 mln consensus. 

[10:55] {magoo} chanserv is one tough cookike

[10:56] {Threei}  it's trained to be tough

[11:00] {Threei}  any indications when the speech is expected on foreclosures?

[11:01] {nemo} watching FAS and HIG for another short?

[11:01] {larisa} set to unveil his housing plan formally at 12:15 p.m. EST

[11:02] {Threei}  ty larisa

[11:02] {Threei}  I am bit torn on that nemo

[11:02] {Threei}  here is my train of what goes for thoughts with me

[11:03] {nemo} just on the stocks, right?

[11:03] {Threei}  any hint at nationalisation of some banks should send FAS down screaming

[11:03] {dino} greenspoan favors it, cnbc right now

[11:04] {Threei}  firm statement against it plus some variation of a bad bank idea should send it up

[11:04] {Threei}  while they debate and jawbone, I don't want to get caught into sharp moves

[11:04] {Threei}  caused by hints and interpretations

[11:05] {Threei}  so, I am kind of in the limbo on the sector

[11:06] {Threei}  look at WFC

[11:10] {Threei} Long Setup:  RIMM  .65 if stays above .50

[11:11] {nemo} too fast

[11:11] {magoo} in

[11:11] {fernp} missed

[11:12] {Threei}  WFC looks like flush is coming

[11:13] {Threei}  no defined trigger

[11:13] {Threei}  low is a bit too far from here

[11:13] {Threei}  so is resistance

[11:15] {Threei}  RIMM 1:1, half ot scalp

[11:16] {magoo} wait .93

[11:16] {Threei}  if taking half, stop to under .60

[11:16] {Threei}  and don't forget to offer at .9299

[11:16] {magoo} :)

[11:19] {cujo} great call Vad

[11:19] {buyemsellem} yes, nice call

[11:20] {Threei}  as larisa indicated yesterday, I show nice leadership when I wake up

[11:20] {Threei}  which seldom happens

[11:20] {Threei}  FHFA BELIEVES OBAMA HOUSING PLAN WILL HELP KEEP INTEREST RATES ON MORTGAGES LOW

[11:21] {magoo} ty rimm boss 

[11:21] {Threei}  wecome sir

[11:29] {magoo} HIG escaped me

[11:29] {cujo} i got in hig .66

[11:29] {cujo} but got out .76

[11:29] {cujo} ugh

[11:30] {Threei}  FDIC'S BAIR: HOUSING PLAN ANNOUNCED TODAY IS 'MISSING LINK' IN RESCUE EFFORT

[11:30] {Threei}  why am I not convinced

[11:30] {cosmo} its a tradition

[11:31] {hawkfan4} trailing SQNM stop to .90

[11:32] {magoo} they used to say patric ewing was the missding link lol

[11:33] {Threei}  I even applied for that position once but they said my IQ was below the lower link, so I wouldn't fit as a middle one

[11:34] {magoo} but yours looks qualified correct {as magoo runs for cover from imp[ending slap fest}

[11:34] {nemo} I remember when Ewing's Georgetown coach wouldn't let the team come out because of a rather derogatory sign about him in the stands

[11:36] {Threei}  at least one good thing came out of automakers debacle

[11:36] {Threei}  PT Cruiser is no more

[11:37] {hawkfan4} lol

[11:38] {Threei}  one of the most meaningless cars I've ever seen, lol

[11:40] {Threei} Short Setup: HIG  with stop above .10

[11:41] {cujo} 10.00 break?

[11:41] {Threei}  either 10 break or aggressively on market weakness

[11:41] {Threei}  matter of taste really

[11:42] {Threei}  invalidated anyway

[11:47] {dino}   sm l fdo .40

[11:50] {hawkfan4} out SQNM +.44

[11:50] {Threei}  beautiful trade

06[11:50] * magoo slaps hawkfan4 around a bit with a large trout

[11:50] {hawkfan4} thx vad :)

[11:51] {cujo} nice Hawk.

[11:51] {Threei}  magoo... just find that e-mail with slaps and install them again

[11:51] {Threei}  I just can't watch how you torture yourself

[11:51] {hawkfan4} thx cujo

[11:52] {magoo} could u send it again..its long gone

[11:52] {Threei}  you mean you delete e-mails with vital information?

[11:53] {magoo} yeah..not having any fun w/ole trouaroop

[11:53] {hawkfan4} i could use it too

[11:53] {magoo} everything must go vad

[11:53] {magoo} provides clarety

[11:53] {magoo} even ditched spell check..no need for it he he

[11:54] {Threei}  dcc me your e-mails please to save time on address book search

[11:54] {magoo} its there

[11:57] {Threei}  sent

06[11:57] * nemo slaps magoo around a bit with a large Master Profit Plan

06[11:57] * nemo slaps Threei around a bit with a large book of Techniques of Tape Reading

06[11:57] * nemo slaps Threei around a bit with a large roll of cash

06[11:58] * nemo slaps Threei around a bit with a large daytrading course

06[11:58] * nemo slaps Threei around a bit with a large chart of uptrending market

[11:58] {nemo} mmmmmhhh....seems to work now

[11:58] {cujo} n21=Slap(Cash):/me slaps $$1 around a bit with a large roll of cash

[11:58] {cujo} hmm

[11:58] {cujo} how do you use these things?

[11:58] {Threei}  lol

[11:58] {nemo} carefully

[11:59] {cujo} ha ha ha laugh at the new guy.... 

[11:59] {Threei}  of course... when there are no old ones to laugh at around

06[11:59] * cujo slaps buyemsellem around a bit with a large trout

[11:59] {nemo} Trish Regan skeeves me

[11:59] {buyemsellem} ouch

06[12:00] * cujo slaps $$1 around a bit with a large roll of cash

[12:00] {cujo} there we go..

06[12:00] * nemo slaps cujo around a bit with a large a rabies vaccine

[12:00] {Threei}  who is $$1?

[12:00] {cujo} just testing the script...

[12:01] {nemo} details

[12:01] {larisa} do we have a limit like 2 slaps per day per person ?  

[12:01] {larisa} or somefing

06[12:01] * cujo slaps everyone around a bit with a large 2x4

[12:02] {nemo} how does a dog hold a 2x4

[12:02] {Threei}  fine with me larisa, as long as it's not imposed on me

[12:02] {cujo} ehh, improvised.  

[12:02] {larisa} for you it is 1 per day and you can say "r" word...

[12:02] {nemo} You mean you can only slap twice, or the same person twice?

[12:02] {Threei}  no way... I need slap-a-plenty

[12:03] {nemo} Sounds like oppresive communism to me, comrade

[12:09] {magoo} vad dcc

[12:09] {hawkfan4} DRYS .76, stop .67

[12:14] {cujo} Hawk, any thoughts on GS here...?

[12:14] {cujo} looks liek it keeps butting its head against that 86.00 price....

[12:14] {hawkfan4} too close to Obama time, i'd stay away for now

[12:14] {cujo} yeah good point. 

[12:15] {cujo} who knows what havoc will occure.....

[12:17] {dino}  what time obama?

[12:17] {larisa} 2 min late

[12:17] {dino} of course, thx

[12:18] {larisa} Bernanke in 40 min too

[12:18] {nemo} Sell the news?

[12:19] {Threei}  what news

[12:19] {Threei}  they already disclosed practically all content

[12:24] {nemo} yeah, but so wasn't the rescue package in November.  Market sold off on the vote.

[12:24] {Threei}  no

[12:24] {Threei}  that one was voted for

[12:25] {Threei}  the matter was whether it passes or not

[12:25] {Threei}  this one is a fact

[12:25] {nemo} we knew it was going to pass

[12:25] {Threei}  yes

[12:26] {Threei}  so market went up into that moment

[12:26] {Threei}  and sold off when it came to fruition

[12:26] {Threei}  there was expectation of news and moment of news itself

[12:26] {Threei}  with this speech both are behind us

[12:27] {Threei}  we will most likely sell down anyway

[12:27] {Threei}  but the mechanics are different

[12:29] {hawkfan4} back in a bit

[12:31] {Threei}  why is it a big speech again?

[12:31] {nemo} It's given by a "black" president?

[12:32] {nemo} pretty anti-climactic

[12:40] {dino} always sell after obama

[12:41] {dino} icentives for staying current on mortgage?????i thought the incentive was to keep your house!

[12:41] {nemo} What did FASB say about Mark-to-Market?

[12:41] {dino} this administration is clueless!!!!!!!!!\

[12:43] {dino} did not see any m2m comments nemo

[12:46] {Threei}  IMF'S STRAUSS-KAHN REITERATES STIMULUS PLANS MUST BE MOVED FORWARD QUICKER, COULD REVISE GLOBAL GROWTH FORECAST TO NEAR 0%

[12:46] {Threei}  - Remarks that the crisis may turn around by beginning of 2010

06[12:46] * magoo slaps cujo around a bit with a large trout

[12:46] {dino} what the hell is a "1k success fee" for 3 years?

06[12:48] * cujo slaps magoo around

[12:48] {cujo} :)

[12:51] {larisa} dino, If I or you stay current on the loan, servicer will get rewarded 1K a year for 3 years :)

[12:52] {dino} from who, govt?

[12:52] {larisa} yup

[12:52] {Threei}  market is underwhelmed

[12:52] {dino} they are destroying the free market, imo

[12:52] {Threei}  and create zillion of new questions down the road

[12:53] {dino} details out march 4th, more of nothing

[12:53] {dino} they most likely do not have it figured out yet, otherwise why wait?

[12:56] {magoo} or close here again first

[13:00] {larisa} I like this redhead on CNBC. rich looking :)

[13:00] {dino} ;-)

[13:00] {Threei}  I like redheads, period

[13:01] {wulff} not to suddly join in, but me too

[13:01] {Threei}  FED'S BERNANKE: SUGGESTING A LONG TERM INFLATION FORECAST SIMILIAR TO THAT OF A TARGET; ENCOURAGED BY MARKET RESPONSE TO ACTIONS THUS FAR, EXPECTS INFLATION TO BE LOW FOR SOME TIME

[13:01] {Threei}  - Long term forecasts to be released with FOMC minutes later today

[13:01] {Threei}  - Fed will extend economic forecast horizons to a period of 5-6 years

[13:01] {Threei}  - Sees recovering Bear Stears and AIG loans

[13:02] {nemo} great....5 year plans

[13:02] {Threei}  ENCOURAGED BY MARKET RESPONSE??

[13:02] {larisa} like DRYS CEO, going in right direction :)

[13:03] {Threei}  should we lose 2000 points in one day for him to be slighly disappointed?

[13:03] {cujo} HIG short under 10.00 Vad?

[13:03] {dino} itri last try sm l .00

[13:03] {dino} spiked

[13:04] {magoo} dcc vad

[13:04] {Threei}  that would be third test cujo

[13:04] {Threei}  so yeah, worth a try

[13:04] {cujo} ok

[13:05] {Threei}  VNDA

[13:05] {Threei}  UPDATE: HOLDER KEVIN TANG URGES BOARD TO LIQUIDATE REMAINING ASSETS AND RETURN REMAINING CAPITAL TO STOCKHOLDERS - FILING

[13:06] {Threei}  Board: no way

[13:07] {Threei}  TICKING LOWER AFTER CNBC'S GASPARINO REPORTS CERTAIN PARTNERS HAVE BORROWED MONEY TO COVER MARGIN CALLS

[13:07] {Threei}  - his sources say this is affecting a few partners, is not widespread at the moment

[13:07] {Threei}  GS

[13:07] {Threei}  3 min ago

[13:07] {Threei}  let me get this straight

[13:07] {Threei}  those supposedly brightest traders

[13:07] {Threei}  mighty, market-moving, well-informed

[13:08] {Threei}  having access to everything and everyone, well-connected

[13:08] {Threei}  trade so well that they are hit by margin calls?

[13:10] {Threei}  I'll teach them for GS, 5 mil per head

[13:10] {Threei}  I thought of 1 mil, but... having all that and still losing money, they must be real hard to teach

[13:11] {cujo} Little thick headed over there at GS....

[13:15] {Threei}  market is doing precisely nothing

[13:17] {cujo} Like Bernanke's beard.

[13:17] {larisa} lol

[13:17] {cujo} Vad, you still have a beard?

[13:17] {Threei}  yes sir

[13:17] {Threei}  photo on a website is very recenbt

[13:18] {cujo} nice, i think i'm going to grow a lucky handlebar mustache.  

[13:21] {nemo} I've got a beard too Larisa :))))

[13:22] {dptl} shorted hig .98

[13:22] {cujo} in .97

[13:23] {dino} clean here larisa

[13:25] {nemo} I have to have a beard...my skin is too sensitive to shave

[13:25] {larisa} clean here too dino :)

[13:25] {patience} no beard here larisa

[13:25] {larisa} LOL

[13:26] {dino} amed

[13:27] {dino} nice

[13:27] {larisa} room is out of control, we need 'ally. 

[13:28] {nemo} bored...maybe...outta' control....hehehehehe....always :)

06[13:29] * cujo pushes HIG down with a speech from bernanke

[13:29] {dino} feels like big move coming soon

[13:30] {larisa} up or up ?

[13:30] {nemo} could you be specific as to direction?

[13:30] {nemo} There's upward pressure in FAS

[13:30] {dino} gut feels up

[13:31] {nemo} TNA is pointing up also

[13:31] {nemo} one of the cats has decided to hop up and help

[13:33] {dino} ahhh

[13:33] {dino} just added 2 kittens to household. it seems i can't say no to my daughhter

[13:34] {nemo} uiiiiiiiiiiiiiiiiiiiiikmjjjjjjjjj,,

[13:34] {nemo} oy...sorry the cat

[13:34] {nemo} Well, he didn't buy anything

[13:34] {Threei}  FED'S BERNANKE: THERE ARE TWO PARTS TO RECOVERY, FISCAL AND MONETARY STIMULUS, AND FURTHER STABILIZATION OF BANKING SYSTEM; BOTH ARE ESSENTIAL, CANNOT SKIP ONE OR OTHER - Q&A

[13:35] {dptl} Vad can you kick that hig for us 

[13:36] {Threei}  PREVIEW: MINUTES OF THE JAN 28TH FOMC MEETING AND QUARTERLY ECONOMIC FORECASTS FOR 2009-2011 TO BE RELEASED AT 2PMET

[13:36] {nemo} Hig is pointing north

[13:36] {Threei}  there is nothing indicative either way right now, dp...

[13:36] {Threei}  GS is upticking

[13:36] {Threei}  helping financials

[13:36] {nemo} I just cut the head off the chicken, the blood spatter still says up

[13:37] {dino} as good as it gets nemo

[13:38] {nemo} Biting the head off is better

[13:39] {nemo} damn chicken

[13:40] {Threei}  sharp down out of nowhere

[13:41] {dptl} good

[13:42] {nemo} Bernanke says TALF will start up any day now

[13:42] {Threei}  uhhu

[13:42] {Threei}  market says YEP and drops

[13:43] {Threei}  - Says TALF will help lower credit card rates

[13:44] {Threei}  this is actrually funny:

[13:44] {Threei}  GDP HEARING VAGUE TAKEOVER CHATTER CIRCULATING

[13:44] {Threei}  by China?

[13:45] {dino} amed sm l .50

[13:45] {nemo} cat likes watching Level II

[13:45] {Threei}  sigh... my sense of humor remains grossly misunderstood

[13:46] {nemo} Not understood is more like it...

[13:46] {dino} i got it

[13:46] {Threei}  GDP...

[13:46] {Threei}  as in Gross Domestic Product...

[13:46] {nemo} Gross Domestic Product?

[13:46] {nemo} got that

[13:46] {Threei}  whew

[13:46] {nemo} What, China is us?

[13:49] {dino} lphi blood

[13:49] {Threei}  want to short RIMM

[13:49] {Threei}  and not sure whether we get snapback any minute now

[13:50] {Threei}  ugh...

[13:50] {Threei}  gotta trust my instincts

[13:51] {magoo} back

[13:51] {magoo} in anything

[13:52] {Threei}  no

[13:52] {nemo} I thought you shorte RIMM?

[13:52] {magoo} make a killing without me

[13:52] {Threei}  nemo... reread my post :)

[13:53] {Threei}  does it indicate that I did or that I wanted, skipped and regretted skipping? :)

[13:53] {nemo} Now that I look at rimm...regret:(

[13:55] {Threei}  GG

[13:55] {Threei}  tough stock

[13:56] {Threei}  looks like breaking out at 32.40

[13:56] {Threei}  half lot with stop under .25

[13:56] {Threei}  can be disgustingly volatile

[13:56] {Threei}  consider it discretionary trade

[13:59] {magoo} in

[13:59] {cujo} in

[14:00] {Threei}  MINUTES OF THE JAN 28 FOMC MEETING: SAW RISKS OF PROTRACTED TOO LOW INFLATION, SET 2% AS LONG TERM US INFLATION GOAL

[14:00] {Threei}  -

[14:02] {dino} that seems low 2%

[14:02] {Threei}  - Increase in spending could be short lived in consumer spending due to stimulus, no signs housing stabilizing

[14:02] {Threei}  **economic forecast:

[14:02] {Threei}  - 2009 GDP growth forecast revised to-1.3% to -0.5%# from -0.2% to 1.1% range prior.

[14:02] {Threei}  - 2009 jobless rate forecast revised to 8.5-8.8% from 7.1-7.6% range prior.

[14:02] {Threei}  - 2010 GDP growth forecast revised to +2.5-3.3% from 2.3-3.2% prior forecast.

[14:02] {Threei}  - 2010 jobless rate forecast revised to 8-8.3 from 6.5-7.3% prior forecast.

[14:02] {Threei}  - Introduces 2011 GDP forecast of +3.8-5%,

[14:02] {nemo} that's the goal dino

[14:03] {Threei}  stop to .29 GG

[14:03] {dino} realistically we are not even at 2% right now

[14:03] {Threei}  nope, we are in deflation

[14:04] {Threei}  stop to .34 GG

[14:04] {Threei}  1:1, half out, stop to .39

[14:05] {Threei}  FED'S EVANS: FULL IMPACT OF STIMULUS PACKAGE ON GDP IS 'UNCLEAR' - Q&A

[14:05] {Threei}  - Stimulus is a critical bridge over the wide gap in demand.

[14:05] {Threei}  - Very important to keep the US auto industry viable.

[14:05] {Threei}  - Disinflation is definately at work in the US economy.

[14:05] {Threei}  - says will expand loan facilities "as appropriate."

[14:07] {Threei}  oh btw, no more Saturn either

[14:07] {Threei}  nor am I not crying about that one

[14:08] {nemo} I know Pluto isn't considered a planet anymore, but Saturn?

[14:08] {Threei}  well, Pluto demotion hit me hard

[14:08] {Threei}  the reason for it was, it was small, not too bright and gassy

[14:08] {Threei}  I don't feel safe

[14:09] {nemo} Oh, I thought you were talking about me

[14:09] {Threei}  I am not that rude...

[14:09] {Threei}  wait

[14:09] {Threei}  I am

[14:09] {Threei}  sorry for misrepresenting myself

[14:10] {dino} uranus

[14:10] {dino} now thats a name

[14:11] {nemo} what does the starship Enterprise and toilet paper have in common?

[14:11] {dino} dk

[14:11] {Threei}  good boy GG, let's go to 1:2

[14:11] {nemo} they both circle uranus looking for klingons

06[14:11] * magoo slaps nemo around a bit with a large trout

[14:12] {Threei}  by the way... all who struggles with mirc... magoo did it

[14:12] {Threei}  and if magoo did it...

[14:12] {Threei}  out GG balance

[14:13] {nemo} did he have federal assistance

[14:13] {Threei}  who doesn't these days

[14:13] {jmb} thanks Vad GG

[14:13] {nemo} me

[14:13] {cujo} ditto

[14:13] {Threei}  jmb :)

[14:13] {cujo} out 1:1

[14:13] {ese} have a great rest of the day all...gota go

[14:13] {Threei}  take care ese :)

[14:13] {ese} see ya vad

[14:13] {nemo} ese :0

[14:14] {Threei}  everyone does, nemo... it's just that some with +, some with -

[14:14] {Threei}  if they can say negative growth

[14:14] {nemo} I'm -

[14:14] {Threei}  why can't they call tax a negative assistance?

[14:15] {magoo}  by the way... all who struggles with mirc... magoo did it

[14:15] {magoo} {&Threei}  and if magoo did it...

[14:15] {magoo} only because of KS

[14:15] {hawkfan4} test

[14:16] {Threei}  A+

[14:16] {nemo} Meredith Whitney is starting her own company

[14:17] {hawkfan4} lol, testing remote connection from my iphone

04[14:18] -} [hawkfan4] PING

[14:18] {Threei}  [14:18] [hawkfan4 PING reply]: 0secs

[14:18] {Threei}  not bad

[14:18] {hawkfan4} and im in the car

[14:20] {Threei}  driving?

06[14:20] * Threei slaps hawkfan4 around a bit with a large safety manual

[14:23] {hawkfan4} back at the desk

[14:30] {Threei}  SAAB and Hummer are out too

[14:31] {Threei}  don't care about Saab

[14:31] {nemo} Ahhnold's bummin'

[14:31] {magoo} what u mean"out" officially closed down and gone

[14:31] {Threei}  EIA NOTES US SAUDI ARABIAN CRUDE IMPORTS -18.2% Y/Y

[14:31] {Threei}  yeas

[14:32] {magoo} so no more hummers bein g maded?

[14:32] {Threei}  GM and Chrysler are shutting down some models and brands

[14:32] {nemo} GM should have done that 20 years ago.

[14:32] {Threei}  Chrysler - PT Cruiser, Dodge Durango and Aspen

[14:32] {cosmo} they did.... the wrong ones

[14:33] {dino} ugh, my durango

[14:33] {Threei}  they said something about Pontiak but I didn't catch it

[14:33] {cosmo} where's my Fiero?

[14:34] {Threei}  sorry cos... in the same tar pit as Hugo

[14:34] {cosmo} figures

[14:34] {Threei}  EIA NOTES US SAUDI ARABIAN CRUDE IMPORTS -18.2% Y/Y, HITTING LOWEST LEVELS SINCE OCTOBER 2007

[14:35] {Threei}  I don't get it

[14:35] {nemo} Hugo?

[14:35] {Threei}  was saudi arabia very poor before 2007?

[14:35] {Threei}  or during oil at 10?

[14:36] {Threei}  how come oil at 30-40 now is considered too low and detrimental to development?

[14:36] {nemo} Oil isn't high enough to warrant new development projects

[14:36] {dino} because of time factor

[14:37] {cosmo} time for free energy

[14:37] {dino} sure

[14:38] {cosmo} plants do it...

[14:38] {Threei}  cost of extraction of one barrel in the gulf is $1-3

[14:38] {Threei}  10 is not good enough margin?

[14:38] {Threei}  30-40 is not good enough either?

[14:39] {nemo} For them, yes, for other OPEC prducers, no...or at least according to their claims

[14:40] {Threei}  RIMM down ad down

[14:40] {larisa} even haircut costs 40$ these days, what you are talking about threei :)

[14:40] {Threei}  say what?

[14:42] {larisa} 70$ and everybody is happy. Setting the price here to end oil wars. 

[14:42] {Threei}  I am not happy

[14:42] {dino} larisa, if you're here, i'm happy

[14:42] {larisa} ty :)

[14:42] {Threei}  gas is going up even as oil drops

[14:43] {Threei}  if it goes up to 70, bastards will double it

[14:43] {cosmo} i would never spend $70 for a hair cut

[14:43] {dino} then i guess john edwards barber is out for you

[14:43] {Threei}  oil 20 and haircut 8... that's my price range

[14:43] {dino} $600

[14:44] {dino} guns and roses on....guess which one

[14:44] {Threei}  keep $5 latte too

[14:44] {dino} never had one. 

[14:44] {cosmo} 5 seems high

[14:45] {dino} i'm a simple guy, i like my coffee like my women.....hot and bitter

[14:46] {Threei}  LOL{ this one is really good

[14:46] {Threei}  JPM CEO: CONCERNED MAY LOSE TALENT DUE TO OBAMA COMPENSATION RULES

[14:46] {Threei}  lose to whom?

[14:46] {nemo} did I miss anything had to reboot because of cat

[14:46] {magoo} yup nemo..this..

06[14:46] * magoo slaps nemo around a bit with a large trout

[14:47] {Threei}  who needs those talents that get margin calls, run their banks in the ground

[14:47] {nemo} thanks mags

[14:47] {Threei}  and where do they go these days?

[14:47] {cosmo} carls jr.

[14:47] {cujo} buy side maybe?  hedge funds 

[14:48] {dino} to reality trader i heard

[14:48] {Threei}  if one can read the market well enough to operate successful hedge fund...

[14:48] {Threei}  watching STT

[14:49] {Threei}  conasolidates close to .50

[14:49] {Threei}  if stays above .35 and breaks with market help, will be worth a scalp

[14:57] {Threei}  over 1:1

[14:57] {Threei}  take scalp, IMO

[14:57] {jmb} thanks Vad Stt

[14:57] {Threei}  welcome :)

[14:57] {magoo} vicious spike here

[14:58] {Threei}  and no one knows why I take it

[14:58] {Onix} Thanks Vad, got some in STT

[14:59] {Threei}  :)

[14:59] {nemo} take what Vad?

[14:59] {Threei}  I take it, no one know why market spiked visiously

[14:59] {Threei}  viciously

[14:59] {nemo} viscously

[14:59] {Threei}  whatever

[14:59] {nemo} no, you were right

[14:59] {Onix} no idea

[15:00] {larisa} whiskasly

[15:00] {Threei}  isn't that cat's treat?

[15:00] {larisa} cat food

[15:01] {nemo} she's phonetically spelling in her accent?

[15:02] {magoo} is this news driven??

[15:03] {Threei}  no news that I see

[15:03] {Threei}  this is one of those things that keep me so careful these days

[15:04] {nemo} Don't think so...just one of those spiles out of the blue, although...I should hav noticed, volume picked up drastically @ 14:49 on FAS

[15:05] {Threei}  14:49?

[15:05] {Threei}  you sure?

[15:05] {nemo} then, volume dropped off drasitcally after the big leg up..yes

[15:05] {Threei}  there is practically no volume on that bar on my chart

[15:05] {nemo} I've got nothing @ 14:48 and then 1.4 million for 14:49 on IB

[15:06] {Threei}  big leg up was 14:57 - 58

[15:06] {Threei}  sheesh STT

[15:06] {nemo} yes...volume started picking up @ 14:49

[15:06] {dino} what the heck, drop

[15:07] {Threei}  false positive... lookm at volume spike at 14:40,

[15:07] {Threei}  nothing happend after that

[15:07] {nemo} STT wasn't as drastic, but starting @14:50 volume hit 50k for th next five minutes and then the price bolted

[15:08] {nemo} on FAS? 

[15:08] {Threei}  you are looking at/for non-existing patterns

[15:08] {Threei}  STT went up because market spiked

[15:09] {Threei}  its own volume before the spike had nothing to do with it

[15:09] {Threei}  and had no predictive value

[15:10] {nemo} I was looking first @ FAS.  Had a volume spike @ 14:49 and then more than 2x that @ 14:50.  Price didn't begin to break range until14:46

[15:10] {nemo} 14:56

[15:11] {nemo} looks like STT moved @ 14:57

[15:11] {Threei}  do you see volume spike at 14:40 on FAS?

[15:11] {nemo} small one

[15:11] {nemo} much bigger @ 14:49

[15:11] {dino} getting whippy

[15:12] {nemo} that  1st volume was in a downtrend, yes?

[15:13] {Threei}  yes

[15:13] {Threei}  after sharp drop

[15:13] {Threei}  not before

[15:13] {nemo} between 14:49 an 14:56 the volume was absorbed in a 5-6 cent range

[15:13] {nemo} then bang

[15:13] {Threei}  okay

[15:14] {nemo} cool...at least I can read the chart...interpret...well...that's a different story.

[15:14] {Threei}  let me say last time

[15:14] {Threei}  tyoyu are looking at non-existing pattern and making conclusions from false positives

[15:15] {Threei}  none of what you see had anything to do with that spike

[15:16] {nemo} o.k., so STT had a good probability pattern, but FAS did not?

[15:16] {Threei}  market took both of them up but STT had better odds

[15:16] {nemo} o.k.

[15:17] {Threei}  it formed clean consolidation under .50 resistance

[15:17] {Threei}  there was a setup to go off

[15:17] {Threei}  for FAS, it was simply market following

[15:17] {nemo} You had support for STT also, whereas not for FAS?

[15:18] {Threei}  5.60 was support

[15:18] {Threei}  no chart formation for clean play though

[15:18] {nemo} understand

[15:18] {nemo} or as the Japanese like to say, "Hai"

[15:19] {Threei}  STT's own foration was nothing but scalp btw

[15:19] {Threei}  formation

[15:19] {Threei}  market's tide turned it into more

[15:19] {nemo} which formation was STT?

[15:19] {Threei}  mini-JBE

[15:19] {nemo} hai

[15:25] {Threei}  these sudden spikes in both directions are killers

[15:26] {Threei}  get caught on a wrong side, you are roadkill

[15:26] {Onix} for sure

[15:27] {nemo} Saw a great book once:  So an So's guide to "Flattened Fauna"  How to identify a carcass after it had been run over by an 18 wheeler.

[15:28] {Threei}  I don't klnow how I lived without this skill

[15:28] {nemo} there was a corresponding cook book published by "The Roadkill cafe"

[15:30] {larisa} triple digit down closure (any bets?)

[15:30] {Threei}  hmmm?

[15:30] {nemo} take it vad

[15:30] {Threei}  I am game

[15:30] {Threei}  no way

[15:31] {nemo} why not?

[15:31] {larisa} you only can say triple up

[15:31] {Threei}  no

[15:31] {Threei}  my bet is no way we rich triple down

[15:31] {nemo} Larisa, you betting down?

[15:31] {Threei}  reach

[15:31] {larisa} yup

[15:31] {nemo} that's how you say it with a spanish accent

[15:31] {magoo} up here

[15:32] {larisa} :)

[15:32] {Threei}  SENATE MAJORITY LEADER REID: AIMING TO ALLOW PRES OBAMA 'ROOM' WITH WHICH TO EVALUATE AUTOMAKER ASSISTANCE

[15:32] {Threei}  {GM F}

[15:33] {dino} great, he'll just keep feeding them money

[15:33] {dino} ford getting screwed royally on this

[15:33] {magoo} funny how everyone gives osama the benefit of doubt

[15:33] {Threei}  ford refused assistance

[15:33] {magoo} likes hes such expert 

[15:34] {dino} yes

[15:34] {nemo} osama?

[15:35] {dino} gm takes $ offer 0%, f doesn't take $. how is this fair. gm should be bankrupt, f picks up slack, survival of fittest

[15:39] {dptl} have a good evening all

[15:39] {Threei}  take care dp

[15:39] {magoo} u2

[15:41] {dino} out itri .40, +.40

[15:41] {larisa} gj

[15:42] {magoo} STT bouncer vad

[15:42] {Threei}  not sure

[15:42] {Threei}  can't break this resistatnce for quite a while

[15:44] {magoo} ill ask nemo instead he he

[15:46] {larisa} 15 min left and market looks like Flattened fauna :)

[15:47] {Threei}  and green

[15:47] {Threei}  not red

[15:47] {magoo} up

[15:47] {Threei}  not triple digits red

[15:47] {magoo} 50 at close

[15:47] {dino} yesterday we dropped about 80 points into close

[15:47] {larisa} right dino

[15:48] {nemo} volume patterns are sporadic

[15:48] {dino} and price

[15:49] {larisa} vad, even if we close -1.13, I win (3 digits red..)

[15:49] {Threei}  sigh

[15:51] {Threei}  small spike into close is my final feel

[15:51] {nemo} gonna' bet him Larisa?

[15:52] {larisa} that we will get big spike ? :) no :)

[15:53] {nemo} Oh jeez...just changed time frame settings on the IB charts, adn the volumes all changed...ohoh

[15:53] {larisa} PLD is strong into the close

[15:53] {nemo} adn=and

[15:54] {Threei}  what was the stake?

[15:55] {nemo} never discussed

[15:55] {Threei}  what it is I am going to win in 6 minutes?

[15:55] {larisa} nothing.. {NO WAY} is not betting.

[15:55] {magoo} a beer with magoo vad

[15:55] {larisa} lol

[15:57] {Threei}  next time I'll ask before making my opinion known...

[15:57] {Threei}  such perfect read, so perfectly wasted

[15:58] {nemo} I know how you feel..............NOT

[15:59] {larisa} RIMM is losing it

[15:59] {dino} out fdo .44, +.04\

[16:00] {Threei}  okay guys

[16:00] {Threei}  fairly nice day

[16:00] {dino} rimm wants 40ish strike imo. tomorrow 40.60 thinking buy area

[16:00] {nemo} P&Q

[16:01] {Threei}  thank you all

[16:01] {Threei}  have a good evening

[16:01] {Threei}  see you tomorrow

[16:01] {larisa} will watch it too dino, see you guys :)

[16:01] {buyemsellem} thank you, see you tomorrow