Feb 19 2009

The day started with two strong trades - AKAM long for 30 something cents and CAT short for a full dollar. A few scalps on RIMM later on in both directions were like icing on a cake.                                                                                                                                                                                                                   

Session Time: Thu Feb 19 00:00:00 2009

[08:00] {KSystems} Boo

[08:03] {Threei}  good morning to you too KS

[08:06] {hawkfan4} morning

[08:06] {Threei}  hawk :)

[08:10] {Threei}  PREVIEW: US INITIAL JOBLESS CLAIMS DATA DUE OUT AT 8:30 AM ET

[08:10] {Threei}  - Expectations for initial claims are 620K v prior release of 623K (range seen from 590K to 660K)

[08:10] {Threei}  - Continuing claims seen at 4.830M v prior 4.81M. (range seen from 4.800M to 4.882M)

[08:10] {Threei}  PREVIEW: JAN PRODUCER PRICE INDEX AND PPI EX FOOD & ENERGY DUE AT 8:30AMET

[08:10] {Threei}  Consensus expectations:

[08:10] {Threei}  - Producer Price Index MoM: 0.3%e v -1.9% prior; YoY expected at -2.4% v -0.9% prior

[08:10] {Threei}  - PPI ex Food & Energy MoM: 0.1%e v 0.2% prior; YoY expected at 3.8% v 4.3% prior

[08:14] {KSystems} Morning :)

[08:14] {Threei}  ks :)

[08:15] {nemo} Gruess Gott

[08:15] {Threei}  nemo :)

[08:16] {nemo} Nasdrovya Vad

[08:16] {nemo} Any interesting overnight news other than the Russians firing on the Chinese

[08:17] {Threei}  I missed that

[08:17] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=acUuNBiKjveM

[08:20] {Threei}  non-event, IMO

[08:20] {nemo} entertaining

[08:20] {larisa} good morning :)

[08:21] {Threei}  larisa :)

[08:21] {nemo} larisa :)

[08:21] {larisa} threei, nemo :)

[08:26] {Threei}  BALTIC DRY BULK INDEX +3.6%, 3RD STRAIGHT INCREASE FOR 4 MONTH HIGHS

[08:28] {Threei}  EGLE halved in 7 sessions

[08:29] {hawkfan4} wow

[08:29] {Threei}  DRYS at least had all those news with refinancing

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 627K V 620KE;

[08:30] {Threei}  CONTINUING CLAIMS: 4.987M V 4.839ME

[08:30] {Threei}  JAN PRODUCER PRICE INDEX M/M: 0.8% V 0.3%E; PPI EX FOOD&ENERGY: 0.4% V 0.1%E

[08:31] {nemo} so producer inflation still high

[08:32] {cujo} good morning

[08:32] {Threei}  cujo :)

[08:32] {nemo} dog :)

[08:33] {cujo} hey nemo, how things

[08:33] {Threei}  GG

[08:34] {Threei}  REPORTS Q4 $0.12 V $0.11E, R $609M V $626.9ME

[08:34] {Threei}  - Q4 results include a non-cash foreign exchange gain on the revaluation of future income tax liabilities.

[08:48] {Threei}  market shrugs off another miserable job report

[08:50] {patience} good morning RT  :)

[08:50] {Threei}  patience :)

[09:03] {Onix} gm all

[09:03] {Threei}  onix :)

[09:06] {nemo} That PPI doesn't surprise me.  Companies trying to cover fixed costs.  At my weekend job, they're jacking up fishing equipment between 25-75%

[09:08] {cosmo} WFMI 11 resistance  ...fwiw

[09:09] {cosmo} looks like a buy out...

[09:11] {Threei}  quite a gap, PCLN

[09:13] {Threei}  SAN FRANCISCO FED ECONOMIST: THIS RECESSION WILL BE THE WORST FOR JOB LOSSES IN 50 YEARS

[09:13] {magoo} morming..I GOT IN EASY:)

[09:13] {Threei}  lol magoo

[09:13] {magoo} gonna be a good day

[09:14] {nemo} That SF Economist is going for your title, Vad.

[09:14] {Threei}  took you what, a month to get to configure mirc? and 20 min to finally do it?

[09:15] {magoo} yeah vad..pretty good huh?

[09:15] {Threei}  efficient too

[09:15] {cujo} Anyone know what happened to AAPL?

[09:16] {Threei}  no news

[09:17] {hawkfan4} Wall street journal reported AAPL computer unit sales in US declined 6% yr/yr in Jan

[09:18] {dptl} good morning all

[09:18] {Threei}  dp :)

[09:18] {fernp} Hello everybody

[09:18] {Threei}  fern :)

[09:19] {dino} gm all

[09:19] {Threei}  dino :)

[09:19] {Threei}  be back in 5

[09:19] {ese} morning

[09:19] {cosmo} WFMI 11.11 ...so far

[09:20] {pita} gm all

[09:24] {Threei}  ese, pita :)

[09:25] {Threei}  HIG is knocking on resistance

[09:26] {ese} hmmmmm seems like the new thing....raise the price target on a stock and it goes shooting up PCLN up +10 bills

[09:26] {Threei}  it reported yesterday

[09:26] {Threei}  upgrdaes came in after that

[09:28] {ese} ahhh....missed it i guess

[09:34] {Threei} Long Setup:  HIG  .50 break if stays above .40

[09:35] {buyemsellem} did that HIG invalidate?

[09:36] {Threei}  barely

[09:36] {nemo} teleport

[09:36] {Threei}  a bar or two more of trading here and will be valid again

[09:37] {nemo} stick a fork in it?

[09:37] {Threei}  invalidated now, bounce candidate rather than break

[09:38] {Threei}  NVAX

[09:38] {Threei}  REPORTS POSITIVE PRECLINICAL RESULTS FOR A NOVEL, BROADLY CROSS-PROTECTIVE H5N1 PANDEMIC INFLUENZA VIRUS-LIKE PARTICLE (VLP) VACCINE CANDIDATE

[09:38] {dino} amed stop to .51 yesterdays leftover

[09:38] {dino} pout slipped .49, +.99

[09:39] {Threei}  STT, pullback into 24.20 area will be interesting

[09:39] {magoo} c'mon bulls hold

[09:39] {Threei}  missed it

[09:40] {_redcat} ss orly 31.29

[09:41] {ese} L NIHD

[09:41] {Threei}  AKAM

[09:41] {ese}  1/2.72

[09:41] {Threei}  18.02 long if stays above 17.85

[09:42] {dino} celg strong

[09:44] {ese} out NIHD avg .93

[09:44] {ese}  +.21

[09:44] {Threei}  AKAM half out

[09:44] {Threei}  .19

[09:45] {Threei}  stop to .95

[09:45] {Threei}  offering 1/4 more .29

[09:46] {Threei}  taken

[09:46] {Threei}  last portion is still with stop under 18

[09:46] {cujo} great call.

[09:46] {Threei}  offering .41

[09:49] {ese} dino ITRI...wha da ya make of it?

[09:49] {ese} double botom.....

[09:49] {dino} missed earns last night

[09:50] {ese} no strength to bounce probably

[09:50] {dino} like it better around lod

[09:51] {Threei}  DEALERS NOTING THAT NUMEROUS SOVEREIGN CREDIT DEFAULT SWAPS CONTINUE TO HIT FRESH ALL-TIME HIGHS

[09:51] {Threei}  - US 5-year CDS at 96.6 bps

[09:51] {Threei}  - German 5-year CDS at 87.2

[09:51] {Threei}  French, Austrian, Finnish 5-year CDS also at record levels

[09:52] {nemo} oy...look at the difference...not good

[09:52] {dino} out celg .08, +.46

[09:52] {Threei} Short Setup: CAT  .64

[09:52] {Threei}  if stays below .80

[09:53] {ese} Bstop  WFMI .51

[09:53] {dino} rimm larisa

[09:54] {dino} amed gap fill from open

[09:54] {larisa} do not want to short it, will scalp on bounces

[09:54] {ese} filled .50 full lot

[09:54] {Threei}  CAT stop .75

[09:54] {dino} ahhh yes, music to my ears

[09:55] {dino} 40.60s

[09:55] {larisa} nice

[09:55] {ese} lots of resistance at .50 wfmi

[09:56] {dino} no, waiting there

[09:56] {dino} bmrn es?

[09:57] {dino} pretty good haircut

[09:58] {ese} was looking at that to dino...whats your take

[09:58] {dino} feeling bad for bauges

[09:58] {Threei}  AKAM stop to under .10 for the last 1/4

[09:58] {dino} 12.25 area sm

[09:58] {dino} no too low, 12.60s

[09:58] {ese} ok  i'll give that a shot

[09:59] {Threei}  cover half CAT

[10:00] {dino} itri wow, nice bounce

[10:00] {Threei}  JAN LEADING INDICATORS: 0.4% V 0.1%E

[10:00] {Threei}  FEB PHILADELPHIA FED INDEX: -41.3 V -25E

[10:01] {Threei}  stop to b/e for the balance

[10:01] {nemo} HIG plunging

[10:01] {ese} stopped WFMI -.15

[10:01] {Threei}  bid 1/4 more CAT .36

[10:02] {Threei}  and trail stop to just above .60

[10:02] {dino} amed sm l .82

[10:02] {fernp} grat call Vad. ty

[10:02] {Threei}  :)

[10:03] {buyemsellem} great call thanks

[10:03] {cujo} nice one.  

[10:03] {Threei}  welcome guys

[10:05] {Threei}  .36 bid hit

[10:05] {Threei}  stop for the last portion is .56

[10:05] {dino} 30 fixed at 5% and politicians say t too high, geeze i built at 9.5%

[10:06] {Threei}  bidding .21 last portion

[10:07] {Threei}  stop to above .50

[10:08] {Onix} ty Vad, got some in CAT

[10:08] {Threei}  stop to .46

[10:08] {Threei}  onix :)

[10:09] {Threei}  changing last cover, want to leave 100 shares

[10:10] {Threei}  direct hit on .21

[10:11] {Threei}  not sure yet what I want from that last 100 shares

[10:11] {dptl} ty cat +.16    +.46

[10:11] {pita} very nice call 

[10:11] {Threei}  dp :)

[10:11] {Threei}  stop is above .40 for those

[10:12] {pita} small sh only but ty

[10:12] {Threei}  pita :)

[10:12] {larisa} i had a dream today that market opened at -800 :) may be it will close there, keep 100 shares :)

[10:13] {Threei}  "I have a dream"...

[10:13] {nemo} ohoh

[10:13] {ese} missed BMRN...was watching something else...you in dino

[10:13] {dino} itri buck drop fast

[10:13] {dino} no waited at .51 no fill

[10:14] {dino} still waiting

[10:14] {Threei}  stop to above .30

[10:14] {cujo} u still short Vad??

[10:15] {Threei}  [10:09] {Threei} changing last cover, want to leave 100 shares

[10:15] {Threei}  had 300 left, covered 200 at .21

[10:15] {cujo} ahh, i thoght the "direct hit .21" was your last lot....  got ya

[10:15] {Threei}  sharp down with big volume

[10:15] {cujo} very nice play

[10:16] {Threei}  stop to .16

[10:17] {dino} es thoughts itri?

[10:19] {dino} ndx negative

[10:20] {ese} just takin a look 

[10:20] {ese} big double bottom

[10:21] {ese} volume not big enough for a bounce ....

[10:22] {ese} seems like it's stalled

[10:22] {dino} bmrn sm l .40

[10:23] {dino} nice range .70s-.20s itri

[10:25] {ese} seems to be hangin in the 

[10:25] {ese} if any of the indexes bounce it could go

[10:26] {ese} aww what the heck L ITRI .13 small

[10:26] {larisa} vad, interested in HIG bounce and where if at all? ty

[10:28] {Threei}  watching it but not sure yet

[10:28] {larisa} k

[10:29] {Threei}  8.90 is obvious setup but I don't like the stop being that wide

[10:29] {Threei}  and market bounce is not convincing at all

[10:29] {nemo} if CAT get's closer to 27.80 another short set up?

[10:30] {Threei}  formally yes... just much higher risk

[10:30] {nemo} ty

[10:31] {ese} stopped ITRI  

[10:31] {ese} -.20

[10:31] {dino} fast fall

[10:32] {magoo} GSdidnt even sell in that mkt drop fwiw

[10:33] {magoo} any read GS HAWK?

[10:33] {ese} yup $60 trial and error

[10:34] {dino} bmrn stopped .07 -.33

[10:35] {hawkfan4} not here, if market turns then .65 break, otherwise could fill the gap to 85

[10:35] {Threei}  STT

[10:35] {Threei}  half lot long .56

[10:35] {Threei}  just a scalp

[10:35] {nemo} too fast

[10:36] {cujo} caught .06

[10:36] {Threei}  good reflexes

[10:37] {pita} stop STT?

[10:37] {nemo} .40?

[10:37] {Threei}  just under

[10:38] {hawkfan4} 87 support for GS bounce mags, not in

[10:38] {Threei}  it went about 10 cents from entry and was designated as a scalp

[10:39] {Threei}  stop to above 28 CAT

[10:39] {hawkfan4} in .30, stop .10

[10:41] {nemo} CAT dancin' at the precipice-bear trap Vad?

[10:41] {magoo} ok hawk..not ion yet

[10:41] {Threei}  I've no idea

[10:42] {Threei}  at this point I just manage the trade

[10:42] {Threei}  trailing stop to above last resistance

[10:42] {Threei}  and letting it decide what to do

[10:42] {nemo} just wondering on umbrella principle?

[10:42] {Threei}  nah, I wouldn't do it on this trade

[10:43] {nemo} too much radical action on the stock?

[10:43] {Threei}  it's too far from original entry, risk rises as moves stretches

[10:44] {hawkfan4} HPQ .46, stop .35

[10:45] {hawkfan4} out GS .69

[10:45] {magoo} nice read hawk

[10:46] {dino} gj

[10:46] {hawkfan4} thx  if it breaks .80 should keep going, but it's right at the 20 sma 1 minute

[10:47] {dino} bmrn rinse r roni

[10:51] {larisa} hard to read reversal, did not get it

[10:51] {dino} sm l itri .60 risky

[10:53] {Threei}  OK

[10:53] {Threei}  now I know what I want fro CAT

[10:53] {Threei}  $1 or more

[10:53] {nemo} heheheheh

[10:53] {Threei}  been a while since I get a full dollar win

[10:54] {nemo} last week?

[10:54] {Threei}  if so I don't remember

[10:54] {Threei}  I have multiple challenges you see... gotta fight moth-like memory span on top of everything else

[10:55] {Threei}  come to me deat CAT

[10:55] {Threei}  dear that was

[10:55] {nemo} Shirley you jest?

[10:56] {hawkfan4} no, i'm serious, and stop calling me Shirley

[10:56] {Threei}  lol

[10:56] {nemo} I knew somebody saw the movie

[10:56] {Threei}  yessssss

[10:56] {Threei}  .65 hit

[10:56] {Threei}  covered for +1

[10:56] {cujo} geezzzz......    

[10:56] {Threei}  can I go home?

[10:56] {cujo} No

[10:56] {nemo} You'll have to get a silk sling for that arm, Vad  NO!

[10:56] {hawkfan4} nice one

[10:57] {Threei}  come on, two trades, both more than scalp

[10:57] {Threei}  never even hinted at jeopardizing stop

[11:00] {Threei}  DOE CRUDE: -138K V +3ME; GASOLINE: +1.1M V -500KE; DISTILLATES: -813K V -1.5ME

[11:00] {nemo} and gas prices are still going up...go figure

[11:01] {hawkfan4} GS .55, stop .30

[11:01] {hawkfan4} small

[11:01] {hawkfan4} that was fast

[11:02] {hawkfan4} rinse cycle

[11:03] {dino}  random swings again today

[11:11] {dino} apol

[11:19] {dino} .

[11:21] {dino} orly

[11:24] {dino} http://investorscoalition.blogspot.com

[11:24] {dino} trader tax pending

[11:26] {Threei}  has zero chance of passing, IMO

[11:26] {hawkfan4} i hate politicians

[11:26] {cujo} ditto

[11:28] {cujo} ss HIG .99

[11:31] {dino} just a bunch of lawyers that couldn't make it

[11:32] {dino} education stocks bloody today, cpla, apol, etc

[11:33] {dino} out itri .20, +.60

[11:35] {larisa} gj

[11:39] {dino} ty

[11:40] {dino} out amed .14, +.32

[11:43] {dino} es apol?

[11:43] {dino} 6 point range

[11:46] {ese} hmmmmmmm

[11:46] {Threei}  HIG is not dropping with this market drop

[11:46] {hawkfan4} was just looking at that

[11:47] {Threei}  watching for 9 break with market bounce

[11:47] {cujo} y, covered my short.

[11:47] {hawkfan4} 9 break 

[11:48] {Threei}  BAC under 4...

[11:48] {dino} c 2.5

[11:48] {ese} long at 79 dino

[11:49] {ese} L apol sm .00

[11:49] {Threei}  looking at them plus FAS... market really thinks next step will be nationalization of banks eh?

[11:50] {dino} ndx 1172 and s/p 780 lows yesterday

[11:50] {dino} 7479 dji

[11:51] {dino} ok es

[11:51] {ese} increased apol to 1/2 avg .06

[11:51] {dino} i am at 78.50 waiting

[11:52] {dino} gutsiest move i ever saw maverick

[11:53] {nemo} Permission for flyby

[11:53] {nemo} watch your coffee

[11:53] {dino} denied

[11:53] {nemo} VVVVVVVVRRRRRRRRRRRRROOOOOOOOOOOOOOOOOOOOOMMMMMMMMMMMM!!!!!!!!!!

[11:53] {dino} nice trade

[11:54] {ese} out apol .36

[11:54] {ese}  +.30

[11:54] {ese} tks dino

[11:54] {dino} vz opening gap at .07, waiting for fill

[11:54] {magoo} god dam that guy{as wipe coffee off shirt}

[11:55] {dino} you've lost that luvin' feeling

[11:56] {ese} apol comin down your way dino

[11:56] {dino} fwiw waiting on apol, watching itri, bmrn again

[11:56] {dino} missing lots of entries as i'm in bear market wait for them mode

[11:57] {_redcat} out PTEN 1/2 +.09

[11:57] {hawkfan4} watching HPQ again, support .28

[11:57] {larisa} btw today is International disturbed people's day :)

[11:57] {dino} ahhh, that explains my luck

[11:57] {hawkfan4} really?  then i should have the day off

[11:58] {larisa} lol

[11:58] {hawkfan4} :)

[11:58] {Threei}  you ashorted it redcat?

[11:58] {_redcat} yes

[11:59] {dino} red cat brings back memories

[11:59] {dino} hhj hazlet horny juice, hazlet's winery

[11:59] {dino} ny finger lakes

[11:59] {dino} ok apol sm off of .50 risky

[12:00] {pita} GS bounce area 86.25?

[12:00] {dino} all things considered itri held at .50 this time around

[12:01] {dino} wanted lod

[12:02] {dino} certain stocks getting stronger, amed, itri, bmrn

[12:06] {dino} dji pounding yesterdays low

[12:06] {nemo} HIG dropping now

[12:06] {dino} not good according to "hammer" theory

[12:08] {dino} apol stopped -.33

[12:11] {magoo} hawk..GS read here please

[12:11] {ese} a bounce off of these index levels would be a strong double bottom...

[12:12] {hawkfan4} no read really, stop would be under 85.80

[12:13] {hawkfan4} HPQ .31, stop .19

[12:13] {dino} vz gap fill

[12:14] {_redcat} out AMZN +.70

[12:14] {Threei}  nice trading

[12:14] {Threei}  ese... problem is, there is slightest sign of bounce

[12:15] {_redcat} thnk u...flattens my ORLY blunder

[12:16] {ese} ya....looks like it's going to go through them

[12:18] {dino} gj red

[12:19] {Threei}  ummm... there is NO sign of bounce

[12:20] {magoo} a bounce coming here

[12:21] {laserdave} magoo dcc please

[12:25] {_bobv} hi

[12:25] {Threei}  hi bob

[12:29] {dino} gm bob

[12:32] {Threei}  SOUTHERN CALIFORNIA HOME SALES ROSE 53% IN JANUARY - DATAQUICK

[12:32] {dino} apol monster rinse

[12:32] {hawkfan4} FAS .45, stop under .40

[12:34] {dino} shoot rimm 40s and i forgot to watch it

[12:40] {Threei}  nice one on FAS

[12:41] {hawkfan4} thx, little inverse h/s on 1 min, got in a little early

[12:41] {Threei}  scalping it or you want more?

[12:41] {cujo} Thanks Hawk

[12:41] {cujo} little scalp

[12:42] {hawkfan4} more i think, get that feeling like they can't break it so they'll have to buy it

[12:43] {nemo} still lunchtime...might only be able to get a scalp out of it

[12:43] {hawkfan4} true

[12:49] {Threei}  who wants a few minutes of rest from watching the market,

[12:49] {Threei}  http://www.cnbc.com/id/15840232?video=1039849853&play=1

[12:50] {dino} slacker

[12:51] {wulff} check out the action on RE

[12:53] {dino} bmrn approaches lod

[12:54] {cujo} Obama plan suspect at best...

[12:56] {Threei}  RIMM

[12:56] {Threei}  HEARING STRENGTH ATTRIBUTED TO POSITIVE COMMENTS FROM AMTECH (TIMING UNCERTAIN)

[12:57] {Threei}  AAPL

[12:57] {Threei}  DOWNGRADED TO SELL FROM NEUTRAL AT MF GLOBAL (TIMINIG UNCERTAIN)

[12:58] {hawkfan4} more time filler :  http://www.youtube.com/watch?v=h05ZQ7WHw8Y

[12:58] {Threei}  RIMM should be bouncable off .40 - .50

[12:59] {dino} itri approaches lod

[13:02] {Threei}  watch market bounce for RIMM entry

[13:03] {Threei}  in, stop under .40

[13:07] {magoo} vad was there news HIG?

[13:07] {Threei}  nope

[13:07] {magoo} i mean..its pummeled

[13:07] {Threei}  half out .63, scalpers take profit

[13:08] {magoo} whats your mkt "feel"for today vad?

[13:08] {Threei}  out RIMM in full .74

[13:08] {Threei}  easy money

[13:08] {Threei}  anyone?

[13:08] {cujo} y

[13:08] {Threei}  :)

[13:08] {cujo} .10+

[13:09] {jmb} thanks

[13:09] {cujo} thanks

[13:09] {Threei}  welcome guys

[13:09] {Threei}  I don't really have any today mags

[13:09] {Threei}  not yet at least

[13:09] {dawg} +.14 ty sir

[13:09] {Threei}  :)

[13:09] {magoo} usually..u have  like feel as close up..or setting up

[13:09] {Threei}  don't you love it when they are so predictable

[13:09] {magoo} ty RIMM btw

[13:10] {Threei}  entry point was clear way in advance

[13:10] {dino} up into close, opt exp tomorrow, no up yet this week

[13:10] {Threei}  PRU

[13:10] {Threei}  FITCH CUTS RATINGS

[13:11] {Threei}  PRU troubles are weighing on HIG

[13:11] {dino} buying financials is like playing russian roulette

[13:11] {Threei}  (not that HIG lacks its own troubles mind you)

[13:11] {Threei}  yeah

[13:12] {wulff} buy more rimm under .60?

[13:12] {Threei}  but while your Prez is in Canada, they are i=unlikely to anounce anything drastic

[13:12] {Threei}  so consider us a stabilizing fdactor for today :)

[13:12] {Threei}  looks right wulff

[13:12] {Threei}  but watch market

[13:13] {Threei}  gotta have bounce in NA for RIMM to play out

[13:13] {Threei}  in NQ

[13:14] {wulff} in .60 S .40

[13:15] {hawkfan4} brb

[13:15] {Threei}  UBS

[13:15] {Threei}  ANNOUNCES IT INTENDS TO CHALLENGE ENFORCEMENT OF THE IRS' "JOHN DOE" SUMMONS

[13:15] {Threei}  - earlier today the IRS sued to bank to reveal the names of US account holders

[13:17] {Threei}  I would keeop stop under .50 on this entry, wulff

[13:17] {wulff} ko

[13:17] {Threei}  lower BB came into .50

[13:17] {Threei}  and you are nicely over 1:1

[13:18] {wulff} muffled excitment

[13:18] {larisa} freaking HIG, 2 stops before giving me nice trade.

[13:18] {dino} itri sm l .50

[13:18] {Threei}  beautiful RIMM

[13:19] {dino} gj

[13:19] {wulff} VAD i'm in UNH at .40, offer balance at .80?

[13:19] {Threei}  (US) ENERGY SECRETARY CHU: DOE PLANS TO SPEND 70% OF STIMULUS FUNDING BY 2010, WILL AIM TO APPROVE SPENDING PROJECTS FROM STIMULUS BY EARLY SUMMER OF 2009

[13:20] {Threei}  you already partialed?

[13:20] {wulff} .60

[13:20] {Threei}  I'd move stop to .55

[13:20] {Threei}  and look for spike over .80 to exit

[13:21] {wulff} ty

[13:21] {nemo} Hawk-still holding?

[13:23] {Threei}  dump RIMM here and dance

[13:30] {wulff} here comes .80 in UNH

[13:31] {Threei}  I'd move stop to .65

[13:31] {Threei}  or .59

[13:31] {Threei}  hard to tell which is better, just different degrees of conservatism

[13:33] {wulff} .61

[13:33] {wulff} good shake in RIMM

[13:35] {dino}  bm,rn sm l .25

[13:36] {dino} bmrn

[13:38] {wulff} held .65

[13:40] {Threei}  looking for sharp drop RIMM to grab for bounce scalp

[13:40] {Threei}  probably closer to .30

[13:42] {Threei}  PRU

[13:42] {Threei}  REPORTEDLY LOSES ELIGIBILITY FOR A COMMERCIAL PAPER PROGRAM DUE TO FITCH DOWNGRADE

[13:43] {Threei}  serious dump PRU

[13:44] {nemo} disembowlment

[13:44] {nemo} should be going for tarp any time now

[13:46] {dino}  already did 1st time around

[13:46] {dino} trv, cigna, and met big ones that did not, i think

[13:46] {dino} no, cig did, chubb didn't

[13:47] {Threei}  here comes RIMM selloff

[13:47] {Threei}  PRU looks shovel-ready

[13:47] {dino} pru 13.10 52 week low

[13:48] {Threei}  MOODY'S REVISES OUTLOOK FOR US TECH HARDWARE SECTOR TO NEGATIVE

[13:48] {dawg} RIMM scalp in .32 out .42

[13:48] {Threei}  :)

[13:49] {dawg} ty Va

[13:49] {dawg} Vad

[13:49] {Threei}  they are easy when you get their rtyhm eh?

[13:49] {dawg} Yessir they are

[13:50] {dino} moodys reminds me of cramer, last summer all was well according to them

[13:50] {Threei}  so very true

[13:51] {dawg} ){

[13:51] {wulff} .80 Stop .68

[13:51] {dino} itri filling dec gap

[13:53] {Threei}  over .80, wulff... I am done looking at it

[13:53] {Threei}  good trade, congrats

[13:53] {wulff} ty

[13:54] {dino} gj

[13:55] {Threei}  mags... to answer your question earlier... down

[13:56] {Threei}  my eod bet is triple digits red

[13:56] {larisa} lol

[13:56] {Threei}  don't lol me

[13:57] {Threei}  make your bet

[13:57] {dino} triple digits green

[13:57] {larisa} my dream told me -800.  so i am with you :)

[13:57] {larisa} wow dino

[13:58] {dino} more like a nightmare

[13:58] {Threei}  lol, no kidding

[13:58] {Threei}  what kind of dream is that

[13:59] {Threei}  one must have had a quart of milk expired month ago to have it

[13:59] {Threei}  with hot dog made during Prohibition

[13:59] {larisa} if you do, you will not sleep at all silly

[14:00] {Threei}  could be... I don't have any personal experience {G}

06[14:00] * larisa slaps Threei around a bit with a large trout

[14:00] {Threei}  FED'S LOCKHART: ODDS TOWARDS BANK NATIONALIZATIONS ARE SUBSTANTIALLY LOWER - Q&A

[14:00] {Threei}  lower than when?

[14:00] {Threei}  or than what

[14:02] {nemo} well I guess FAS heard that comment

[14:02] {Threei}  FED'S LOCKHART: RECESSION WILL MOST LIKELY CONTINUE THROUGH THE FIRST HALF OF 2009; MODEST RECOVERY IS POSSIBLE IN SECOND HALF OF 2009, BUT ANY RECOVERY FACES NUMEROUS HEADWINDS

[14:02] {Threei}  - Consumers are being helped by lower energy prices

[14:02] {Threei}  - Monetary policy is still helping the US economy

[14:02] {Threei}  - The big inventory pullbacks will help boost production in the future

[14:02] {Threei}  - Lower mortgage rates are aiding housing, although housing is still burdened by excess inventory.

[14:02] {Threei}  - Financial sector remains troubled, but there are modest signals that the sector is improving a bit.

[14:04] {Threei}  FED'S LOCKHART: CHANCES FOR BANK NATIONALIZATIONS ARE SUBSTANTIALLY 'OFF THE TABLE FOR NOW' - Q&A

[14:04] {Threei}  for now?

[14:04] {Threei}  FAS fainted

[14:05] {dino} m2m is the "key"

[14:05] {Threei}  I guess it's coming

[14:05] {Threei}  they tried almost all remaining keys

[14:05] {Threei}  nothing helps

[14:05] {Threei}  so, m2m and bad bank are almost all left

[14:07] {nemo} It's gettin' off the mat

[14:07] {dino} brb

[14:07] {magoo} buffets down another 350 million today in afc and wfc

[14:08] {larisa} it is like $35 for us, nothing :)

[14:09] {nemo} Yeah, that's a half hour of drinks

[14:10] {Threei}  35? nothing?

[14:10] {Threei}  come on... I am crying for hours if I lose %35

[14:10] {Threei}  $35

[14:10] {nemo} You have issues

[14:11] {larisa} i am not, I am much stronger than you mentally

[14:11] {Threei}  hmmm... people keep telling me that

[14:11] {Threei}  which makes me cry more

[14:12] {nemo} ruff tuff immigrant...you've been here to long

[14:12] {Threei}  no, I actually got better... before immigration my crying treshold was $15

[14:20] {hawkfan4} ok, who killed my rally while i was gone

[14:20] {nemo} It's Larisa's fault

[14:20] {Threei}  we also moved your cheese

[14:21] {Threei}  and poured ink into washer

[14:21] {nemo} put Gold Bond in your jock strap

[14:21] {hawkfan4} i'm more concerned about the cheese

[14:22] {nemo} Whoa! that Santili rant at the top of Drudge

[14:27] {dino} watching cpla, apol

[14:28] {Threei}  wth USO

[14:31] {dino} sm apol l .60

[14:33] {Threei}  CAT just slides down

[14:33] {Threei}  when we shorted it first time three days ago, we could just hold it and go sleep :)

[14:33] {nemo} armchair quarterbacking?

[14:34] {Threei}  yup, I am very good at that

[14:34] {nemo} how can you throw with that arm?

[14:35] {dino} idcc

[14:44] {Threei}  anyone's up for serious adrenalin overload?

[14:44] {cujo} y

[14:44] {cujo} sleepy

[14:45] {nemo} of course...the rabid dog

[14:45] {Threei}  PRU... .50 break short

[14:45] {Threei}  one thing I promise:

[14:45] {Threei}  you won't be sleepy

[14:46] {Threei}  your guy and our guy give press-conference

[14:46] {nemo} huh?

[14:47] {Threei}  our guy speaks french... yours is looking at him with face expression you should see

[14:47] {nemo} oh...

[14:47] {Threei}  it's on CNN actually

[14:48] {larisa} and CNBC

[14:48] {nemo} I'll wake up the cats

[14:49] {Threei}  switch to english already, whole USA will think Canada speaks French

[14:49] {Threei}  finally

[14:49] {nemo} most of US doesn't know where canada is

[14:50] {Threei}  thta could well be true... trying to place an order with one NY company once I was told "sorry, we do not ship overseas"

[14:51] {nemo} No way...pru going up?

[14:51] {nemo} Hear that...a great pleasure to be in Iowa

[14:51] {Threei}  GE touched under 10

[14:52] {dino}  does a day every go by w/o an obama speech?

[14:53] {Threei}  kidding? it's a new economic engine

[14:53] {nemo} he'll have to buy carbon credits

[14:54] {dino} lol

[14:54] {nemo} subtle...huh?

[14:55] {Threei}  not really but who am I to judge subtlety

[14:56] {nemo} that's right...though...sensitivity has never been my strong suit...ask you ex's...

[14:56] {nemo} ask my ex's

[14:57] {nemo} look @ PRU!

[14:58] {Threei}  never triggered on a short side, so went up

[15:01] {magoo} vad..ill re-ask that question here

[15:02] {Threei}  [13:55] {Threei} mags... to answer your question earlier... down

[15:06] {magoo} felt like we were going up there

[15:08] {dptl} have a good evening all :)

[15:08] {Threei}  NQ loses 1170, market is toast

[15:08] {Threei}  take care dp

[15:09] {Threei}  28.80 in Qs terms

[15:10] {magoo} ok

[15:10] {nemo} hair's breadth

[15:11] {Threei}  holding by fingertips

[15:12] {nemo} FAS testing lows

[15:12] {Threei}  under

[15:12] {nemo} ohoh

[15:12] {nemo} quick hide the women and children!

[15:12] {Threei}  my triple red is coming

[15:12] {dino} ok, new lows 

[15:13] {dino} 7449 nov low, 1018 (far away), and 741 

[15:13] {nemo} How low can you go?

[15:15] {nemo} Cramer's ranting against Santili

[15:16] {hawkfan4} now i know for sure Rick was right

[15:16] {Threei}  lol

[15:20] {dawg} RIMM scalp in .73 out .83

[15:20] {Threei}  careful with bounces guys

[15:20] {dawg} K

[15:21] {Threei}  guts say, cruel flush is coming

[15:21] {Threei}  in fact, I'd see to short RIMM

[15:27] {Threei}  ok... guts wrong

[15:27] {dino} ppt steps in

[15:27] {magoo} you r skerrin me

[15:27] {nemo} There's still time

[15:27] {Threei}  little short RIMM

[15:28] {Threei}  .24, stop above .30

[15:28] {Threei}  half out .12

[15:28] {nemo} too quick for me

[15:30] {Threei}  never played RIMM with 7 cents stop before

[15:32] {Threei}  out 1/4 more

[15:32] {Threei}  42.01

[15:33] {Threei}  FAS new low

[15:34] {Threei}  market selling accelerates

[15:34] {Threei}  I still may win that bet

[15:34] {nemo} [15:27] {nemo} There's still time

[15:35] {nemo} Of course Meredith Whitney is on saying banks are screwed

[15:35] {wulff} AAPL +50

[15:35] {wulff} .50

[15:36] {Threei}  beautiful

[15:36] {Threei}  fas

[15:36] {nemo} you scalp it?

[15:36] {Threei}  ?

[15:37] {Threei}  beautiful was to wulff's trade

[15:37] {wulff} Shorted scalp

[15:37] {nemo} oh

[15:37] {wulff} .70-.22

[15:37] {Threei}  fas was typed in a wrong window

[15:37] {Threei}  MEREDITH WHITNEY: WOULD BE A SELLER OF CITIGROUP, EVEN AT THESE LEVELS - CNBC COMMENTS

[15:37] {Threei}  {C}

[15:39] {dino} who is this meredith gal?

[15:40] {dino} s/p -11% since 02/09/09

[15:40] {nemo} Bank analyst...she's been nailing it since the debacle started

[15:40] {Threei}  triple red

[15:40] {Threei}  HIG lower and lower

[15:40] {larisa} famous oppenheimer girl who predicted banks crisis

[15:40] {dino} ok, thx

[15:40] {_bobv} yes, triple digit red

[15:40] {Threei}  FAS frikin 5

[15:41] {nemo} was 5

[15:41] {Threei}  DOW JONES INDUSTRIAL BREAKS BELOW NOV 21ST INTRADAY LOWS OF 7,449.38

[15:42] {Threei}  can I start those gestures, you know... drumming the chest...

[15:42] {Threei}  patting the back

[15:42] {nemo} You mean you stopped?

[15:42] {nemo} When?

[15:42] {Threei}  not really,

[15:42] {Threei}  but I never revealed I did it

[15:42] {Threei}  so now I asm trying to officiate it

[15:43] {dino} we must start to contrary trade my "gut"

[15:44] {Threei}  jokes aside, I am fairly proud of how we handled this week

[15:44] {Threei}  I don't believe many can say they run close to 100% these days

[15:44] {_bobv} sp futures rebound

[15:45] {buyemsellem} yes, great week

[15:45] {Threei}  closed last portion RIMM

[15:45] {nemo} ppt struck...it's only Thursday

[15:45] {cujo} good week, good day

[15:45] {Threei}  what PPT...

[15:45] {Threei}  myth

[15:45] {nemo} whatever...bye Santa

[15:46] {Threei}  wait... I have something to tell you about Easter bunny too

[15:47] {wulff} could have range traded AAPL all afternoon

[15:47] {dino} radical thought, everybody on tv says we are going to hell. contrary trade is up. could be double bottom in the making

[15:47] {dino} patience????

[15:48] {Threei}  now you are talking like I did yesterday dino... remember my dilemma?

[15:48] {dino} bacon or salad?

[15:48] {dino} no, seriously

[15:48] {Threei}  that one is no a dilemma

[15:49] {nemo} sob look at FAS

[15:49] {Threei}  I said yesterday, I was torn on the market,

[15:49] {Threei}  chart is absolutyely breakdownish

[15:49] {Threei}  and NOV lows is total magnet

[15:49] {Threei}  but everyine says we are going to break down

[15:49] {Threei}  and it can't be just that easy

[15:50] {dino} ahhhh

[15:50] {dino} great cloudy minds think alike

[15:50] {Threei}  lol

[15:50] {dino} i just have a hard time following the crowds

[15:50] {Threei}  tell me about it

[15:51] {Threei}  unless it's a crowd of short skirts and high heels

[15:52] {nemo} drag queens?

[15:52] {dino} indeed, no problem there

[15:52] {dino} s's over n's today unusual

[15:52] {Threei}  nemo, dino said cloudy minds, not dirty

[15:53] {nemo} mushroom clouds are dirty

[15:53] {dino} no drag queens

[15:55] {wulff} see ya'll

[15:55] {Threei}  okay guys

[15:55] {Threei}  thank you all

[15:55] {Threei}  have a good evening

[15:55] {larisa} bye

[15:55] {Threei}  see you tomorrow

[15:55] {nemo} P&Q

[15:55] {dino} esi ouch

[15:56] {fernp} good evening