Mar 05 2009

A few successful scalps here and there, couple stops... but the highlights of the day were shorts on USB and CAT, both for 40 cents profitable moves. The end of the day was practically unreadable so we mostly stayed away.

Session Time: Thu Mar 05 00:00:00 2009

[07:59] {magoo} morning

[07:59] {nemo} u 2

[08:05] {magoo} GYMB slaughtered last nite

[08:07] {patience} good morning rt  :)

[08:07] {cujo} morning all

[08:07] {magoo} pat:0

[08:16] {ese} good morning

[08:16] {Threei}  Good morning

[08:16] {Threei}  BALTIC DRY BULK INDEX +4%, 5TH STRAIGHT INCREASE

[08:16] {cujo} morning Vad

[08:17] {ese} DRYS  on the move maybe

[08:17] {nemo} hello

[08:17] {Threei}  cujo, ese, nemo :)

[08:17] {magoo} vad:)

[08:19] {magoo} ADBE moving up

[08:19] {Threei}  magoo :)

[08:21] {Threei}  03/04/09 04:17pm [ADBE] Narrows Q1 EPS targets of $0.44-0.45 v $0.42e, Cuts Rev forecast to $783-786M v $792Me ($0.43-0.47, R$800-850M prior)

[08:21] {Threei}  and 4 uopgrades this morning

[08:27] {ese} what are the 4 upgrades vad?

[08:28] {Threei}  UBS, Friedman Billings, Jefferies

[08:28] {Threei}  and hmmm, Friedman Billings again

[08:28] {Threei}  not sure why they did it twioce... a lot of enthusiasm I guess :)

[08:28] {nemo} whose payroll are they on?

[08:29] {ese} the friedman billings price target for adbe was raised to 16......it's at what...18

[08:29] {nemo} just to go with approved pessimism

[08:30] {Threei}  *INITIAL JOBLESS CLAIMS: 639K V 650KE; CONTINUING CLAIMS: 5.106M V 5.155ME

[08:30] {Threei}  wow

[08:31] {Threei}  first good numbers in I don't know how long

[08:31] {fernp} Hello everybody

[08:31] {Threei}  fern :)

[08:31] {ese} wow mags...your not kidding with Gymb.......lopted 8 bills off......

[08:31] {ese} fern

[08:32] {nemo} Hey ese?  Ever heard The Yellow Jackets?

[08:33] {ese} yup....one of my favorite fusion band

[08:33] {ese} bands

[08:33] {ese} have seen them 3 times

[08:34] {nemo} saw 'em Saturday night at Scullers in Boston, FANTASTIC!  How about Coco Montoya?

[08:34] {ese} long time ago though....are they still around?

[08:34] {nemo} 29 years

[08:34] {cosmo} another day; another dollar.  It's still the 'dolla' ...right?

[08:34] {ese} fabulous musicians

[08:34] {nemo} peso cosmo

[08:35] {nemo} yes ese

[08:35] {cosmo} sigh

[08:35] {nemo} bass player awesome on a six string

[08:35] {nemo} piano player...don't have words

[08:36] {nemo} dcc ese

[08:36] {ese} with ya on all of that

[08:36] {magoo} vad, pull up the gymb news please

[08:37] {Threei}  03/04/09 04:06pm

[08:37] {Threei}  [GYMB] Gymboree Corp Reports Q4 $1.00 v $0.98e, R $288.7M v $288Me, SSS -2%

[08:37] {Threei}  - Guides Q1 EPS $0.18-$0.25 v $0.75e

[08:37] {Threei}  - Guides Q1 SSS Down 20-25%

[08:37] {Threei}  - Company cites continuing difficult retail selling environment and the temporary impact of the recently enacted regulations on current product assortments.

[08:38] {Threei}  and of course couple downgrades

[08:38] {magoo} ty

[08:40] {cosmo} ... see if it holds 14...

[08:41] {ese} the Raven speaks

[08:43] {Onix} Good morning all

[08:43] {Threei}  onix :)

[08:44] {magoo} so whats the news catalyst for thismorns drudgery?

[08:46] {Threei}  ?

[08:46] {magoo} morningstar saying STT,C,BAC,PNC,STI,FITB,KEY are likely to fail govt stress test 

[08:47] {Threei}  lol

[08:47] {magoo} down 116 vad...after 1 day bounce in extremely oversold mkt=drudgery

[08:48] {Threei}  no one knows how test is going to be arranged, and on top of that - test results are not going to be made public

[08:48] {Threei}  so what's the point in those speculations

[08:51] {Threei}  market doesn't nedd bad news these days to move down

[08:52] {magoo} whats your pre mkt feel here

[08:52] {Threei}  none

[08:52] {Threei}  as if ity too eassy to get normal hours feel... you want premarket too? :)

[08:53] {nemo} Expectations grow with your legend Vad

[08:54] {Threei}  lol

[08:54] {pita} gm everyone

[08:54] {Threei}  pita :)

[08:58] {magoo} im trying to put together a celebrity boxing match...top card vad vs cramer

[09:00] {pita} rules? 

[09:00] {cosmo} don't forget Rush.....

[09:00] {geo} good morning

[09:01] {pita} in a cage?

[09:01] {Threei}  geo :)

[09:02] {Threei}  strange mags... I always pictured you as a fan of female wrestelrs in jelyy type

[09:02] {geo} wow

[09:02] {geo} I really need playback

[09:02] {Threei}  lol

[09:03] {Threei}  as for cosmo's remark... I'd really prefer to have Rush on my side {G}

[09:03] {cosmo} hmmm maybe he could be the coach

[09:04] {cosmo} nah

[09:04] {cosmo} GYMB tries

[09:04] {Threei}  I'd just sit in corner and let him pound away

[09:05] {dino} gm all

[09:05] {Threei}  dino :)

[09:06] {magoo} russian bear tactic vad?

[09:07] {Threei}  just an acknowldegment of his greatness :)

[09:07] {cosmo} legendary...

[09:08] {cosmo} soon to be mythical....

[09:08] {dino} well, looks like yesterdays' gaps will fill

[09:08] {pita} you really need Kudlow, Rush and Cramer for a jaw-fest

[09:08] {Threei}  my money's on Rush

[09:09] {dino} 696 s/p, 1080 ndx

[09:12] {Onix} can anyone please explain tol me why the Canadian dollar is so weak compared to the US dolar, while the Canadian banks and econimy is still in much better shape tha the USA?

[09:12] {ese} better banking system.....

[09:12] {Threei}  just take a good thing and don't ask why :)

[09:13] {Onix} :D

[09:13] {cosmo} tol = thinking out loud

[09:13] {cosmo} i think

[09:13] {Threei}  at this point, it's a combination of weak oil,

[09:14] {Threei}  weak export which is a big factor for an exoprting country

[09:14] {ese} the reserves required  to back loans etc etc.......deposit insurance etc......2nd to none

[09:14] {dptl} good morning all

[09:14] {ese} dp

[09:14] {Threei}  and general reflection of Canadian economy as dependent on USA strength

[09:14] {Threei}  dp :)

[09:15] {cosmo} wait untill we're on the 'wood' standard

[09:15] {ese} those stringent requirements all but insure the banks will not fail....builds confidence......run on a bank here will never happen

[09:15] {Onix} thanks, that helps .. just hard to pay anything US with our weak Canadian currency

[09:20] {dino} your weak dollar is good for manufacturing and exports. usa was fine w/weaker dollar, the stronger is hurting us

[09:20] {Threei}  pretty much

[09:20] {Threei}  CAD rally killed manufacturing

[09:20] {dino} i've said that here for years, strong dollar no help

[09:21] {geo} amero amero

[09:21] {Threei}  and for country to positive trade balance it was a tough burden

[09:21] {cosmo} ame'o

[09:21] {dino} except for selling debt, then weaken it over time debt becomes less

[09:21] {Threei}  for me personally, CAD drop is a blessing

[09:22] {Threei}  majority of personal spending is still within Canada, so better conversion of prifits made in USD to CAD is a nice icing on a cake

[09:23] {Threei}  and for US spending I simply keep part of earning in USD, never converting it

[09:23] {Threei}  WMT

[09:23] {Threei}  RAISES DIV BY 15%

[09:24] {Onix} so, i will just have to start making money now hey?

[09:24] {Threei}  wow WMT bid

[09:24] {geo} vad.. whats on your shortlist?

[09:25] {Threei}  usual suspects only

[09:25] {dino} hott, aro big beats

[09:26] {Threei}  watching STT for that customary big dive at the open

[09:26] {vint} good morning all

[09:26] {Threei}  vint :)

[09:27] {Threei}  keeping half eye on UAUA

[09:27] {Threei}  for possible repetition of its yesterday opening spike

[09:28] {dino} morning star ragging stt

[09:28] {Threei}  other than that, not much so far

[09:28] {dino} next rally, 3/13. 5 down, then up

[09:28] {dino} :)

[09:28] {geo} adbe intereting

[09:28] {Threei}  gotta get something shaping up

[09:29] {Threei}  also, any mention of m2m is a signal for financial sector to move briefly

[09:29] {Threei}  the more positive mention the better the move

[09:31] {pita} CAT falling off the bed

[09:31] {Threei} Long Setup:  UAUA  4.06 if holding above 4

[09:32] {geo} vix shot up

[09:32] {geo} is it me ot drys stuck

[09:33] {geo} sotty uaua

[09:33] {geo} sorry hehehe

[09:36] {Threei}  slow opening

[09:36] {fernp} MO strong

[09:38] {Threei} Long Setup:  STT  half lot .20 break

[09:38] {Threei}  if stays above 21

[09:38] {dino} apol swing working

[09:41] {Threei}  STT half out

[09:41] {Threei}  stop to .15

[09:45] {Threei} Long Setup:  UAUA  .92 if stays above .80

[09:48] {Onix} ty Vad, got some in STT

[09:48] {Threei}  :)

[09:48] {Onix} in uaua

[09:49] {buyemsellem} put your tray tables up

[09:49] {buyemsellem} turn off cell phones

[09:49] {Threei}  or assume crash position

[09:49] {buyemsellem} ha

[09:50] {Threei}  :)

[09:50] {nemo} head between legs, kiss a$$ goodbye!

[09:51] {cujo} calm as hindu cows

[09:51] {geo} lol

[09:51] {geo} havent heard that before

[09:51] {nemo} never heard that one before

[09:51] {cujo} no?

[09:51] {nemo} ha!

[09:51] {Threei}  calm as yesterday's cake?

[09:51] {nemo} what?

[09:52] {cujo} fight club, when they aretalking about plane crashes

[09:52] {geo} ah

[09:52] {geo} havent watched

[09:52] {cujo} good movie

[09:52] {cujo} highly recommended

[09:52] {pita} uaua still good?

[09:52] {Threei} Long Setup:  GE  7 break

[09:52] {Threei}  stop under 6.90

[09:52] {Threei}  pita... if you are in, stay in

[09:52] {Threei}  if not, don't chase

[09:55] {Threei}  GE 1:1, half out or scalp, your choice

[09:56] {Threei}  if partialling, stop to .98

[09:56] {Onix} ty Vad, got some in UAUA & GE

[09:56] {Threei}  UAUA stop to .84

[09:57] {Threei}  see Onix... multiply your profit by 1.25 and don't tell me you don't like the USD/CAD rate :)

[09:57] {Onix} now i understand better ;) thaks

[09:58] {Threei}  CBST

[09:58] {Threei}  TICKING HIGHER ON TAKEOVER CHATTER CIRCULATING

[10:00] {Threei}  JAN FACTORY ORDERS: -1.9% V -3.5%E

[10:00] {Threei}  *US Q4 MORTGAGE DELINQUENCIES: 7.88% V 6.99% PRIOR (RECORD HIGH)

[10:01] {Threei}  FED'S KOHN: AIG STILL HAS A LARGE AMOUNT OF DERIVATIVES

[10:01] {Threei}  duh

[10:01] {nemo} Large might not be accurate

[10:01] {Threei}  of course it does... that's why they are scared to death to let it fail

[10:01] {nemo} Let me put it this way, LARGE might be understating it

[10:04] {cosmo} maybe we (the mkt) wants to see some indictments

[10:04] {nemo} I'd prefer hangings myself

[10:04] {Threei}  ok GE... it's time

[10:05] {cujo} l ed .03

[10:05] {cosmo} its all a matter of time nemo

[10:05] {nemo} No, we're too civilized for hanging

[10:05] {dino} esi v sm l .40

[10:05] {cosmo} we were...

[10:05] {Threei}  HOUSE MAJORITY LEADER HOYER: MAY PASS HEALTHCARE OVERHAUL BY AUGUST

[10:05] {Threei}  {IYH}

[10:05] {Threei}  really?

[10:06] {Threei}  that sounds way optimistic to me

[10:06] {nemo} He didn't say they'd get it right

[10:08] {cujo} ed -.10

[10:08] {ese} i'm finding this market today interesting....the upity ups want it to go down and are trying to sell it down but it don't wanna go that way....with just about the entire S&P 500 trading at 10 to 12X's   earnings were looking at more than fair valuations......where in h is it gonna go......the people might be asying no finally

[10:09] {cujo} PALM getting killed

[10:09] {cujo} what up with that...?

[10:09] {Threei}  I don't know ese... I don't believe in some higher beings wanting market to go down and trying to supress it

[10:09] {cosmo} ese....the people just want to re-fi

[10:09] {ese} good one cos

[10:10] {cosmo} :)

[10:11] {buyemsellem} GE is holding on admirably

[10:12] {ese} i'm just looking at my screens   .01 dn .05dn .03 up etc etc etc...after reading all the doom and gloom about it tanking huge today....hmmmmmmm

[10:12] {Threei}  yeah

[10:12] {Threei}  but I don't know how to derive from that a conclusion about some conspirators trying to kill the market :)

[10:12] {cujo} its all those damn short sellers...

[10:13] {cujo} :)

[10:13] {ese} just a sense i'm getting......for what it's worth.......just doing more watching these days than anything else

[10:13] {Threei}  ah those... yeah cujo, locusts

[10:13] {ese} ya....them damn short sellers

[10:13] {nemo} your ese sense is tingling

[10:13] {dino} new dji lows

[10:14] {cujo} not having traded back when this was even an issue, you all think the up tick rule did anything of value?

[10:14] {dino} opps, wrong

[10:14] {dino} no cujo, imo

[10:14] {Threei}  didn't we discuss that yesterday?

[10:14] {ese} no

[10:14] {dino} but bring it back if they want, no matter to me

[10:14] {cujo} not sure

[10:14] {cujo} i was sort of in and out yesterday

[10:14] {cujo} mentally that is

[10:14] {Threei}  lol cujo... memory span of a daytrader?

[10:15] {cujo} memory span of a small fish

[10:15] {cujo} with add

[10:15] {cujo} ADHD

[10:15] {nemo} hey, easy cujo!

[10:15] {dino} we've ruined you already cujo

[10:15] {cosmo} i finally forgot how to do fractions....

[10:15] {cujo} sry nemo

[10:15] {cujo} :)

[10:15] {nemo} forgot to tell you, I'm  a pirhanna

[10:16] {cujo} was watching some nature channel special about them last week

[10:16] {cujo} crazy little buggers

[10:16] {nemo} orthodontist bills

[10:17] {Threei}  http://www.realitytrader.com/tradinglog/2009/03/mar-03-2009.html

[10:17] {Threei}  scroll down to 12:32

[10:18] {fernp} CAT weak Vad

[10:18] {cujo} l HIG .61

[10:18] {cujo} small

[10:19] {Threei}  I looked at it couple times fern

[10:19] {Threei}  problem weas, it dropped into support levels every time too fast to play breakdown

[10:19] {Threei}  maybe this time if bounce it weak

[10:20] {Threei}  .70 would be a trigger

[10:20] {Threei}  let's see where it tops out

[10:20] {fernp} ty

[10:21] {Threei}  .85 is a stop level

[10:21] {Threei}  BAC

[10:21] {Threei}  CTW INVESTMENTS ASKS BOARD TO REMOVE CEO LEWIS

[10:22] {dino} remove the entire board

[10:23] {Threei}  FAS, can you believe the price?

[10:23] {dino} fas=bac

[10:24] {elepet} good morning

[10:24] {dino} ok, lows to watch dji 6705, ndx 1072, s/p 692

[10:24] {Threei}  elepet :)

[10:28] {dptl} ah..stopped cat

[10:30] {pita} and GE, anybody still holding?

[10:30] {Threei}  whby?

[10:30] {Threei}  stop was moved to 6.98

[10:31] {pita} sorry missed that - out awhile ago

[10:31] {Threei}  it hit 1:1

[10:32] {pita} yes, got most of that

[10:32] {pita} ty

[10:32] {Threei}  [09:55] {Threei} GE 1:1, half out or scalp, your choice

[10:32] {Threei}  [09:56] {Threei} if partialling, stop to .98

[10:32] {dino} fxi sm l .50

[10:33] {buyemsellem} so what happens now, weak rally and then steep dive?

[10:33] {Threei}  at the moment, this is how it feels

[10:34] {Threei}  possible factors changing the nearest course of action:

[10:34] {Threei}  - another speech

[10:34] {Threei}  - jawboning about m2m from powers that be

[10:34] {nemo} when is HE speaking?

[10:34] {Threei}  we don't know nemo, and we are not supposed to ask

[10:35] {cujo} he that shall not be named

[10:35] {Threei}  TREASURY SECRETARY GEITHNER: $250B BUDGET PLACEHOLDER IS NOT AN ESTIMATE OF NEED; WILL CONSULT WITH CONGRESS ON ANY FURTHER BAILOUT MONEY NEEDS

[10:35] {dino} vz, t strong

[10:35] {dino} retail too, fd, dltr, aro, wmt

[10:37] {dino} rimm sm l .60

[10:37] {dino} tbt sm l .80

[10:37] {dino} salvation thru inflation

[10:44] {Threei}  not ey convincing bounce... feels like smackdown is coming

[10:44] {Threei}  ey = very

[10:44] {Threei}  C

[10:44] {Threei}  MOODY'S LOWERS RATINGS ON 6 CITI SPONSORED SIVS TO A1;

[10:45] {geo} how can anything be A1 after being lowered

[10:45] {geo} sheesh the stuff these guys use

[10:47] {Threei}  smackdown it is

[10:47] {dino} good feel

[10:47] {nemo} You sure HE's not talking?

[10:48] {dino} lol

[10:48] {nemo} Wonder if FAS will qualify for delisting today?

[10:50] {cujo} if fas goes to .01 i'm planning to buy 10,000 shares.

[10:50] {pita} looks a lot like WFC

[10:51] {nemo} GE really holing a range

[10:51] {nemo} holding

[10:51] {Threei} Short Setup: USB  9.52 if stays below 9.60

[10:51] {pita} ADBE gonna bounce?

[10:54] {Threei}  SENATOR DODD (D): AIG'S CONTINUED FAILURE TO NAME ITS COUNTERPARTIES IS UNDERMINING PUBLIC SUPPORT FOR BAILOUT - SENATE HEARING ON AIG

[10:54] {Threei}  - Calls on the Fed to reveal AIG's counterparties.

[10:54] {Threei}  FED'S KOHN: NAMING AIG'S COUNTERPARTIES WOULD UNDERMINE EFFORTS TO STABILIZE THE COMPANY

[10:54] {Threei}  lol

[10:54] {Threei}  let them duke it out

[10:55] {nemo} When everybody finds out how much of a part Golman Sachs plays in that they'll be Bull excrement

[10:56] {cujo} :)

[10:56] {Threei}  GM

[10:56] {Threei}  SAYS GOING CONCERN NOTICE IN 10-K WAS "NOT A BIG DEAL"

[10:56] {Threei}  nah

[10:57] {nemo} short set up for GE?

[10:58] {Threei}  not sure

[10:58] {Threei}  locked into this 10-15 cents range

[10:58] {Threei}  kind of in the middle of everything

[10:58] {nemo} get's below .85 there's a good gap from the open

[10:59] {cujo} Vad, USB scalp or more?

[10:59] {fernp} UBS is a scalp?

[10:59] {fernp} sorry!

[10:59] {Threei}  good question

[10:59] {nemo} usb or ubs

[10:59] {Threei}  HEARING VAGUE CHATTER THAT CITIGROUP MAY BE REMOVED FROM DOW INDUSTRIAL AVERAGE RELATIVELY SHORTLY

[11:00] {Threei}  USB

[11:00] {fernp} USB

[11:00] {cujo} geez, zome serious volume there

[11:00] {nemo} well GE coughed it up

[11:00] {dptl} in usb

[11:02] {Threei}  really can't tell guys

[11:02] {cujo} polish that crystal ball

[11:02] {Threei}  market has distinctive feel of a mini-crash coming

[11:03] {Threei}  REPORTEDLY US DOE TO ISSUE FIRST LOANS IN $25B AUTOT LOAN PROGRAM IN 'WEEKS'

[11:03] {Threei}  {GM F}

[11:05] {Threei}  I solved this dilemma by shorting double lot

[11:05] {Threei}  stop is tight enough

[11:05] {Threei}  so if it hits 1:1 I will cover 1 lot

[11:05] {Threei}  trail stop andf see if we get more

[11:06] {Threei}  EU'S BARROSO: CONCERNED OVER PUTIN'S COMMENTS IN UKRAINE GAS DISPUTE

[11:06] {Threei}  - REminder earlier Putin noted that would halt shipments to Ukraine March 7 if payments were not made

[11:08] {Onix} ty Vad, i grabbed some in USB :D

[11:08] {Threei}  TREASURY SEC GEITHNER: STILL EVALUATING METHODS TO ALLOW AUTOMAKERS TO RESTRUCTURE

[11:08] {Threei}  {GM F}

[11:08] {Threei}  yeah Timmy, why would you hurry

[11:08] {Threei}  it's not it's an emergency

[11:08] {Threei}  it's not like it's an emergency

[11:09] {Threei}  DOE'S CHU: DOE WILL BEGIN ISSUING CAR LOAN GUARANTEES WITHIN WEEKS

[11:09] {Threei}  {GM F}

[11:10] {dino} prepackge bankruptcy and move on

[11:13] {dino} hammering on support, dji, s/p

[11:13] {dino} ice is getting weaker, imo

[11:14] {Threei}  market bounces look like someone is trying to climb out of abyss grabbing any little plant on a steep incline... losing grip and sliding down

[11:14] {Threei}  USB 1:1

[11:14] {dino} dji breaks tues. lows

06[11:15] * dino slaps &Threei around a bit with a large trout

[11:15] {Threei}  why oh why

[11:15] {Threei}  1 lot covered USB

[11:15] {dino} i was using the ice example, grabbing chunks of floating ice

[11:15] {Threei}  stop to .55

[11:15] {dino} s/p broke

[11:15] {Threei}  oh lol

[11:16] {Threei}  I thought you referred to a stock

[11:16] {Threei}  and ICE does get weaker

[11:16] {Threei}  here is my minicrash starting

[11:17] {Threei}  and here comes 1:2 USB

[11:17] {dino} [11:13] {dino} hammering on support, dji, s/p

[11:17] {dino} [11:14] {dino} ice is getting weaker, imo

[11:17] {Threei}  half lot more out

[11:17] {Threei}  last half stop to .51

[11:17] {fernp} good one Vad. ty

[11:17] {Threei}  :)

[11:17] {Threei}  anyone tried my method on it?

[11:17] {cujo} nice trade Vad

[11:18] {buyemsellem} very nice on the USB

[11:18] {Threei}  it's a midification of umbrella

[11:18] {Threei}  SENATOR BUNNING (R): AIG IS A LOST CAUSE

[11:19] {Threei}  USB 1:3, 1/4 more out

[11:19] {Threei}  last portion stop to .41

[11:19] {dino} after 200 billion he says that, wtg genius

[11:23] {Threei}  C lost 1 for a second

[11:23] {Threei}  and again

[11:23] {buyemsellem} C you later

[11:24] {dino} mcd sm l .72 gap from tues filled

[11:24] {buyemsellem} another leg down anyone?

[11:24] {Threei}  want one last leg from USB

[11:24] {geo} sniff I liked my bank

[11:25] {buyemsellem} yup, still short 1/4

[11:25] {Threei}  I think so buyem

[11:25] {dino} dk buy and sell

[11:25] {geo} wow vol on 5 min candle 30 million on c

[11:25] {dino} problem is as i said yesterday, we just had our 1 day a week positive

[11:25] {Threei}  yes, there was 1 min candle with almost 15 mil

[11:26] {Threei}  woohoo

[11:26] {Threei}  USB +.30

[11:26] {Threei}  my a$$ is out

06[11:26] * geo is going to get his stuff out of the bank

[11:26] {dino} and heck only down 6% this week

[11:26] {Threei}  +.40, sorry

[11:26] {cujo} nice one Vad.  

[11:26] {buyemsellem} beautiful

[11:26] {dino} wtg vad

[11:26] {Threei}  ty

06[11:26] * geo thinks thats a disturbing visual

[11:27] {Threei}  on such thick one it's not a small feat

[11:27] {geo} {&Threei}  my a$$ is out

[11:27] {Threei}  this kind is not moving as easily as thin stocks

[11:27] {geo}  {buyemsellem} beautiful

[11:27] {dino} ndx gap filled

[11:27] {cujo} yeah that .45 bid was tough to get through

[11:27] {Threei}  and allows to play much bigger shares

[11:28] {Threei}  geo... it's all in your mind, and it seems to be quite a sick one {G}

[11:28] {geo} hehehe

[11:28] {ese} am outta here...see you all tomorow

[11:28] {Threei}  that's why magoo and I like you

[11:28] {Threei}  take care ese

[11:28] {cujo} c ya

06[11:28] * geo blushes

[11:28] {ese} kcheers

[11:28] {geo} see ya ese

[11:28] {Threei}  but becareful because cujo does too

[11:28] {Threei}  and be liked by a rabid dog, ya know...

[11:29] {geo} what can i say.....

[11:29] {geo} i am transfixed by C

[11:29] {Threei}  bark greetingly?

[11:29] {cujo} ruff ruff....

[11:29] {cujo} i'm starting to worry about my cashish at citi

[11:30] {cujo} hope this fdic thing is really as reliable as i have read

[11:30] {geo} another 20 mill 5 min candle coming up

[11:30] {geo} i wonder who is buying

[11:30] {geo} magoo?????

[11:30] {Threei}  there were some headlines abut FDIC running low on reserves

[11:31] {Threei}  now... FDIC insolvency would be the end of it

[11:31] {Threei}  so I'd guess it's not going to happen

[11:31] {buyemsellem} we are down 320 on DOW since yesterday at 3:25

[11:31] {Threei}  and if it does... having money in any form or not is not going to matter

[11:32] {geo} steel and lead

[11:32] {Threei}  it's going to be gun and ammo that decide who gets the food

[11:32] {geo} my fav metals

[11:32] {buyemsellem} 4.6%

[11:32] {Threei}  USB was good for 50 cents

[11:32] {magoo} id do better in that environmt

[11:32] {geo} comeon magoo

[11:32] {geo} you seem to be doing ok in the markets too

[11:33] {magoo} struggling of larte

[11:33] {magoo} late

[11:34] {magoo} down today as speak

[11:34] {geo} thats reminds me... hey magoo what do you think of H&K USP... thinking of gettin one as a bdday present :)

[11:34] {geo} same here magoo... happy fingeres syndrome

[11:35] {geo} dcc me pls

[11:35] {magoo} i missed exits on vads uaua, stt, and ge and ended up taking losses on all 3

[11:35] {magoo} way off today

[11:35] {magoo} and afraid to short

[11:35] {Threei}  and ignored USB??

[11:35] {magoo} but was thinking sh gs at 54

[11:35] {nemo} Yea, I took the GE short instead...duh

[11:36] {magoo} well yea

[11:36] {magoo} was pissed so stopped

[11:36] {Threei}  what am I doing here

[11:36] {geo} wow..... atleast you took em....... I was stuck in an etf position and was too busy nursing it

[11:36] {Threei}  no one plays my calls anyway

[11:36] {magoo} not u..what am IDOING 

[11:36] {geo} so locked myself out of platform

[11:36] {Threei}  see you in a year

[11:36] {geo} comen vad

[11:36] {geo} be more forgiving

[11:36] {nemo} Yeah, I did...I just saw the short and said o.k.  Unfortuantely only .20

[11:36] {geo} it hurts as it is

[11:36] {Threei}  what's that?

[11:37] {dino} think inflation vad

[11:37] {Threei}  my english vocabulary must be too limited

[11:37] {Threei}  no word "forgiving" in it

[11:37] {geo} how about kind or gentle

[11:37] {Threei}  nope, none of that either

06[11:37] * geo goes back to self-flagellation

[11:38] {Threei}  now, that I do have

[11:38] {buyemsellem} NASDAQ is below lowest november close now

06[11:39] * Threei slaps geo around a bit with a large list of winning calls none of which was take by forementioned geo for some unknown reason

[11:39] {geo} sniff

06[11:39] * geo takes his beating like a snivelling kid

[11:39] {Threei}  just helping with that flagellation

[11:40] {geo} wow markets....

[11:41] {geo} so now we officially below dot com bubble

[11:41] {Threei}  not n NASDAQ

[11:42] {geo} sorry was looking dow

06[11:42] * nemo thinks geo likes beatings

[11:43] {geo} id rather take a beating than loose money due to happy fingers capn nemo

[11:44] {dino} rimm

[11:44] {nemo} depends on who's adminstering the beating

[11:44] {pita} day job - later all

[11:44] {Threei}  take care pita

[11:46] {dino} aro sm l .00

[11:47] {dino} the dino recovery plan: rather than propping up all of the businesses, just issue every american $50,000

[11:47] {geo} id tak eit

[11:47] {geo} dino for prez !!

[11:48] {Threei}  bad plan

[11:48] {dino} cheaper 300 million people (includes kids) x $50k

[11:48] {Threei}  it doeasn't include canadians

[11:49] {dino} you can't vote for me vad, so no

[11:49] {geo} agree

[11:49] {geo} nothing personal vad

[11:49] {Threei}  sigh

[11:49] {geo} gotta stick with fellow USA

[11:50] {dino} well i need the votes

[11:50] {dino} nothing personal

[11:50] {geo} hey vad

[11:50] {geo} register with acorn

[11:50] {geo} then you could probably vote lol

[11:50] {Threei}  any plan that doesn't send me money is a bad plan in my eyes dino... sorry

[11:51] {dino} lol

[11:51] {buyemsellem} OK, instead of propping up businesses, send every canadian $50,000

[11:51] {dino} i'd use it to buy canadian gold miners

[11:53] {geo} GLD yeah !!!!

[11:53] {Threei}  when you have 15 min watch this:

[11:53] {geo} phew i thought i was cooked yesterday

[11:53] {Threei}  http://watch.thecomedynetwork.ca/the-daily-show-with-jon-stewart/full-episodes/march-4-2009/#clip145169

[11:53] {Threei}  quite entertaining

[11:54] {geo} ip restiction for us vad

[11:54] {Threei}  oh, that was canadian side

[11:54] {Threei}  there is US somewhere too

[11:54] {cujo} which episode is it?

[11:54] {geo} was it the santellui clip or the dow clip?

[11:54] {Threei}  on CNBC

[11:55] {geo} ahh the santelli cnbc heheheh

[11:55] {Threei}  santelli, cramer, bank ceos

[11:55] {geo} the dow one is funny too

[11:56] {Threei}  feels like we have bounce in the making

[11:56] {geo} http://www.thedailyshow.com/video/index.jhtml?videoId=220253&title=the-dow-knows-all

[11:57] {Threei} Long Setup:  CAT  .52

[11:57] {Threei}  stop under .45

[11:57] {Threei}  just a scalp

[12:00] {dino} fasb meeting today for 3/12 recommendations on m2m; fwiw

[12:01] {Threei}  if they put positive recommendation on the wire, we will have strong bounce on hands

[12:05] {dino} big if, but anything can happen

[12:05] {Threei}  yeah, just a scenario to keep in mind and react on

[12:07] {magoo} are u thinking a dime on cat or more?

[12:08] {Threei}  originally thought just a scalp,

[12:08] {Threei}  but seeing how it held while market downticked, start thinking maybe more

[12:12] {KSystems} Hi!

[12:12] {Threei}  KS :)

[12:17] {Threei}  FED'S KOHN: UNSURE ABOUT RECOVERY OF ENTIRE TREASURY EQUITY, NO EXPECTATION FOR NET LOSS ON CREDIT FACILITY; AIG HAS ENOUGH ASSETS TO REPAY LOANS EVEN AT DISTRESSED PRICES

[12:17] {nemo} Yeah, our money

[12:19] {Threei}  1:1 CAT

[12:19] {buyemsellem} out 1/2

[12:20] {buyemsellem} trailed my stop to .48

[12:21] {Threei}  getting the routine down eh :)

[12:21] {buyemsellem} heh

[12:21] {Threei}  1:2

06[12:21] * Threei slaps magoo around a bit with a large roll of cash

[12:22] {Threei}  if you tell me you haven't profited from this call either I am not talking to you for the next 7 minutes 43 seconds

[12:22] {magoo} out her .72 TY

[12:22] {Threei}  qwhew

[12:22] {magoo} need 10 more

[12:22] {buyemsellem} out another 1/4 at .74, stop trailing the rest

[12:23] {dptl} ty cat half out .70

[12:24] {dptl} offering .99 rest lol

[12:24] {buyemsellem} nice

[12:25] {buyemsellem} still looking salmonish

[12:27] {dino} sm l lphi .15

[12:27] {magoo} thought about letting it ride...but needed to bank one

[12:27] {buyemsellem} where would a conservative stop trail be for CAT at this point?

[12:28] {Threei}  under .60

[12:28] {magoo} flat .52 so no loss

[12:28] {buyemsellem} OK

[12:28] {magoo} oops sorry vad

[12:28] {Threei}  more aggressive under .70

06[12:28] * Threei slaps Chaeron around a bit with a large roll of cash

[12:29] {magoo} here bully bully...nice bully..c'mere

[12:30] {dptl} 9c left

[12:30] {geo} hiya chaer

[12:30] {Chaeron} hi everyone

[12:30] {geo} forgot password :)

[12:30] {Chaeron} lol

[12:33] {magoo} chinn-cheara:)

[12:34] {magoo} long spy .29 RISKY i suk today

[12:36] {magoo} 69.05 stop

[12:36] {buyemsellem} CAT not looking as salmonish, going to trail aggressive

[12:37] {dptl} ok...out cat .76 ....ty

[12:37] {Threei}  welcome

[12:37] {buyemsellem} yes, thank you, about to be out

[12:37] {nemo} it went up, laid it's eggs and headed back

[12:38] {Threei}  quite happy with today's performance

[12:38] {buyemsellem} as am I

[12:38] {Threei}  a few scalps, 40 cents on USB, almost 40 on CAT

[12:38] {nemo} Geez...and lunch isn't over yet

[12:39] {Threei}  SENATOR DODD (D): MAY HAVE TO COMPEL THE FED TO REVEAL AIG COUNTERPARTIES

[12:39] {Threei}  - Note that earlier in the hearings, Dodd said AIG's continued failure to name its counterparties is undermining public support for bailout

[12:39] {dawg} in SPY .29 small shares

[12:39] {Threei}  my favorite rep:

[12:39] {Threei}  REP FRANK (D): NOTES THAT $7.6B IN TARP FUNDS HAVE BEEN RETURNED TO THE TREASURY TO DATE

[12:39] {Threei}  - Both US Bankcorp and Northern Trust will return their TARP funds.

[12:39] {Threei}  - Both SEC and CFTC will be strengthened, another agency will be given responsability to oversee systemic risk.{XLF USB NTRS}

[12:40] {buyemsellem} OK, out last piece at .79

[12:41] {magoo} thats good news right?

[12:42] {dino} gs returning them too, according to meeting last week

[12:43] {Threei}  this all is so bizxarre

[12:43] {dawg} all out SPY good call magoo ty a large slab of bacon for you 

[12:43] {Threei}  if they can return them in a few months why did they need funds in a first place

[12:44] {nemo} to buy treasuries...

[12:44] {magoo} didnt u read my "i SUK" disclaimer?

[12:44] {dino} thought it was cheap, no strings attached funds. then obamination changed the rules

[12:44] {buyemsellem} If someone reaches out to me with cash I instinctively take it

[12:44] {dino} bingo

[12:44] {dawg} i did but disregarded that

[12:44] {dino} lol

[12:44] {nemo} right...see what happened to treasuries those last few months

[12:44] {Threei}  hehe

[12:45] {Threei}  I like this attitude buyem

[12:45] {Threei}  material scalpers born from, lol

[12:45] {buyemsellem} ha

[12:52] {cujo} In all seriousness, would anyone consider taking their cash out of citibank?

[12:54] {Threei}  hey!! Prez on TV soon

[12:55] {Threei}  missed him?

[12:55] {cujo} going to bank, catchyou later

[12:55] {geo} heheh

[12:55] {Threei}  lol

[12:55] {geo} my logic is nationalized bank more stable these days

[12:55] {buyemsellem} run on the bank, good luck cujo

[12:56] {Threei}  what was that spike in USB about

[12:57] {buyemsellem} interesting

[13:09] {dino} guns and bullet sales rocking

[13:10] {nemo} Yep...I work part time at a sporting goods store, we can't keep bullets in stock

[13:10] {buyemsellem} here we go, this should help

[13:10] {dino} expecting civil unrest

[13:10] {buyemsellem} don't worry, Obama speech

[13:11] {Threei}  PRESIDENT OBAMA: GOAL IS COMPREHENSIVE HEALTHCARE REFORM BY THE END OF 2009

[13:12] {geo} nemo is US or canada?

[13:12] {geo} in

[13:13] {dino} blah, blah, blah; as the cheetos dude would say

[13:14] {dino} usa

[13:14] {nemo} Massachusetts, believe it or not

[13:14] {geo} ok thats surprising

[13:15] {Threei}  nemo's gift to the world is barney frank

[13:15] {geo} and kennedy

[13:15] {dino} lol

[13:15] {nemo} Don't forget Kerry, and Dukakas

[13:16] {dino} wondering if barney and ted ever hooked up

[13:16] {nemo} Barney would have gone off a bridge

[13:16] {geo} gold tocking today

[13:16] {geo} rocking

[13:18] {geo} fdo dltr bj

[13:18] {geo} rising hmmm

[13:19] {nemo} Funny, I remember seeing the news conferences with young Teddy after he went swimming with Mary Joe.  Listening to his responses, even as a kid, made me squirm.

[13:21] {nemo} CAT shrot VAD?

[13:22] {nemo} short

[13:22] {Threei}  no read on short side

[13:22] {Threei}  feels like more upside in the market after some pullback

[13:22] {dino} out aro .40, +.40

[13:23] {nemo} Dino, how's the glasses going?  I still haven't broke down.

[13:23] {dino} use them at night reading in recliner

[13:24] {geo} hmmmm news on molson coors?

[13:24] {geo} tap

[13:25] {Threei}  USB is probably bounce ready here

[13:25] {magoo} hard to be speaker of the house now adays

[13:25] {Threei}  for a scalp

[13:26] {magoo} u gotta be expert in auto industry, finance, banking, health care

[13:26] {magoo} .65 vad?

[13:26] {Threei}  if holding .60

[13:32] {Threei}  change of plan

[13:32] {nemo} short?

[13:32] {Threei}  nah

[13:32] {nemo} too late

[13:36] {Threei}  this one is priceless:

[13:36] {Threei}  FED'S LOCKHART: NOT CONCERNED OVER INFLATION OR DEFLATION AT THE CURRENT TIME - Q&A

[13:36] {Threei}  what, me worry?

[13:36] {buyemsellem} translation: isn't sure which one to be worried about

[13:37] {Threei}  so he choses not to worry about either

[13:37] {nemo} Your'e middle name Alfred, Vad?

[13:37] {Threei}  hmm?

[13:38] {nemo} Alfred E. Neumann of MAD magazine's catch phrase was "What, me worry?"

[13:38] {nemo} MAD was a cultural icon of the 60's and 70's

[13:39] {Threei}  considering where I lived in 60s and 70s... you'll forgive me for never hearing of him

[13:39] {nemo} Of course.  I was going to be impressed

[13:40] {dino}  closing in on 2:00

[13:40] {Threei} Long Setup:  RIMM  .56 if holding above .45

[13:41] {nemo} blew by

[13:41] {Threei}  pullback for entry

[13:42] {nemo} in

[13:42] {Threei}  no go

[13:43] {nemo} out

[13:43] {nemo} that was a quickie

[13:47] {buyemsellem} oh great, I just won the South African National Lottery!

[13:48] {Threei}  congratulations

[13:48] {buyemsellem} those usually don't make it through my filter

[13:48] {Threei}  nigeria of ivory coast?

[13:48] {Threei}  or

[13:48] {buyemsellem} only $840,000

[13:48] {Threei}  hmmm

[13:48] {Threei}  strange

[13:48] {Threei}  I never win less than 10 mil

[13:49] {buyemsellem} very suspicious

[13:49] {buyemsellem} I imagine I only need to mail them $5K

[13:50] {buyemsellem} for starters

[13:50] {Threei}  sure... I send it all the time

[13:51] {Threei}  why not, I'll recover it multifold as soon as all those nice people send me all the lotteries, inheritances etc

[13:52] {Threei}  Chaeron regularly loans me money in echange for % in that

[13:52] {buyemsellem} this is starting to sound like our economy

[13:52] {Threei}  I don't feel noew plunge coming somehow

[13:52] {Threei}  rather strong bounce

[13:56] {magoo} GScandidate IF bounce 

[13:56] {magoo} ?? asking vad

[13:56] {nemo} Interesting you describe a rally in the negative first...not sure how I feel about that...

[13:56] {magoo} or banking secxtor to beat

[13:56] {Threei}  well GS is a mover of course...

[13:57] {Threei}  just wouldn't be my first choice

[13:57] {nemo} Mags, when deer harvesting season start there?

[13:57] {dptl} usb?

[13:57] {magoo} what is?

[13:57] {Threei}  AAPL, RIMM, USB

[13:58] {Threei}  feels like last pyullback befor upward move

[13:59] {Threei}  USB

[13:59] {Threei}  COMPANY NOTES HAVE NOT APPLIED TO RETURN TARP CAPITA; IN CONTRAST WITH BARNEY FRANK COMMENTS

[14:00] {Threei}  news... not sure how it impacts the move

[14:00] {fernp} went from 9.66 to 9.44 in a sec

[14:00] {dptl} crazy

[14:00] {nemo} took the indexe with it

[14:00] {nemo} indexes

[14:03] {dino} bounce time if pattern holds

[14:07] {Threei}  oh boy... FAS

[14:08] {Threei}  what will it indicate if it goes to zero? financial sector ceases to exist?

[14:08] {nemo} I figure they'll push FAZ through 100 today, it's just too close

[14:10] {Threei}  REPORTEDLY FIAT QUESTIONED BY US AUTO TASK FORCE ABOUT THE 'ADDED VALUE' OF PROPOSED ALLIANCE WITH CHRYSLER

[14:10] {Threei}  huh?

[14:10] {Threei}  how is it goverment's business?

[14:11] {geo} they donw want to give up their pride and joy for free

[14:12] {nemo} Still not getting that flushing feeling?

[14:12] {Threei}  no :(

[14:12] {nemo} shouldn't that be "no :)"

[14:13] {Threei}  but I feel guilty about that

[14:13] {nemo} what are you, catholic?

[14:14] {nemo} FAZ breaks 99

[14:15] {Threei}  CIEN must be deeply insulted by this:

[14:15] {Threei}  UPDATE: PRICE TARGET LOWERED TO $6 FROM $7 AT BOFA/MERRILL LYNCH, MAINTAINS UNDERPERFORM RATING

[14:16] {Threei}  considering the source..

[14:23] {nemo} FAZ nudged 99.99, this is just a game right now.  

[14:23] {Threei}  I don't know guys, maybe my read is off... I just don't feel another seloff comng

[14:24] {Threei}  staying on a sideline

[14:24] {Threei}  chart is not giving any upside signals, and stomach doesn't say selling

[14:24] {dino} -12% in 9 trade days

[14:24] {geo} gld spike

[14:24] {Threei}  with very decent performance up to this point, don't want to spoil it

[14:25] {Threei}  so, staying away if new selling wave hitas, and ready to look for upward signals if tide changes

[14:25] {dino} i have to revse my dji zero call from 5 weeks to 24 days at this pace

[14:25] {Threei}  lol dino

[14:25] {fernp} lol

[14:26] {patience} i'm just waiting for price of POT to drop another 8 bucks...and dino, dow at 4,000 by the summer?

[14:26] {dino} could happen

[14:26] {dino} but stay away from the drugs, ok

[14:27] {Threei}  don't know about DJI dino, but FAS is definitely seeong zero as a magnet {G}

[14:27] {nemo} I wasn't going there.

06[14:27] * geo is giddy about gold

[14:27] {nemo} Let's hope FAZ pulls an Icarus real soon

[14:28] {Threei}  what is spot gold now?

[14:28] {geo} spot hmmm

[14:28] {nemo} 928.3

[14:28] {Threei}  I have 928 but quotes are not reliable

[14:28] {geo} ZG is 929

[14:28] {Threei}  ok, ty

[14:29] {geo} hawkfan around?

[14:29] {geo} he should have acess to comex

[14:29] {Threei}  on a break

[14:31] {Onix} do you have a symol for the Toronto Stock Excange on Laser 

[14:31] {Onix} Vad?

[14:31] {patience} spot 928.70

[14:31] {Threei}  WFC

[14:31] {Threei}  CHAIRMAN DISLCOSES PURCHASE OF 100K SHARES

[14:31] {Threei}  I don't have TSX feed Onix

[14:31] {Onix} oh is he the brave man!

[14:31] {Threei}  need to ask for activation if you want it

[14:31] {nemo} Yeah, bought it with TARP money

[14:32] {Threei}  OK, looking at the chart now

[14:32] {Threei}  this is either last gasp before total breakdown

[14:32] {Threei}  or uptrend will be stablished after retest of the low

[14:32] {Threei}  here is retest, let's see

[14:34] {Threei} Long Setup:  AAPL  89 break break half lot

[14:34] {Onix} i mean like the DOW is $DJI & Nasdaq is $COMP  ... what is the TSX? .. not available on Laser? ... one needs the TSX feed for that hey?

[14:34] {Threei}  stop under 88.80

[14:34] {nemo} missed

[14:35] {cujo} in .03

[14:35] {Threei}  not a scalp for me, aiming for 89.40 or so

[14:35] {Threei}  with partial above .20

[14:35] {Threei}  half out .23

[14:35] {Threei}  missed frikin USB

[14:36] {Threei}  stop .95 for AAPL balance

[14:37] {Threei}  held by fingertips

[14:37] {Threei}  come on, no more shakouts

[14:37] {Onix} sorry, aapl too crazy for me

[14:37] {cujo} only in for small lot so got out whole

[14:38] {cujo} skf

[14:38] {cujo} sry. wrong window

[14:38] {nemo} geez cujo!

[14:38] {cujo} ha ha

06[14:40] * Threei is kicking market in the rear

[14:41] {nemo} careful..CAT in market...animal cruelty laws

[14:41] {Threei}  fruit are not protected

[14:42] {Threei}  I am safe kicking AAPL

[14:42] {nemo} splat all over your toes

[14:42] {Threei}  just did, lol

[14:42] {nemo} that...was under your sole

[14:44] {nemo} AAPL LOD 88.50 

[14:44] {nemo} .45

[14:45] {Threei}  stomach was right for about 10 minutes

[14:45] {Threei}  let's see what happens next

[14:45] {nemo} Puttin' on helmet and shoulder harness....where's that bottle?

[14:46] {Threei}  took .21 USB this time

[14:47] {Threei}  if this spike is as effective as last one, should go over .30

[14:47] {nemo} where was that call

[14:47] {Threei}  stop under .15

[14:47] {nemo} now

[14:48] {Threei}  nope

[14:49] {nemo} nope

[14:54] {Threei}  where are the jawboners?

[14:54] {Threei}  high time to come out and say bad bank, m2m, whatever you want, just stop the pain

[14:55] {Threei}  market posts lousy technical bounce 150 points yestareday, only to resume brutal selling next day

[14:55] {Threei}  do these guys think they have all the time in the world while people's funds of all kinds are getting decimated?

[14:56] {Threei}  breakdown

[14:58] {Threei}  snapback

[14:58] {Threei}  chaos

[15:00] {Onix} :)   :/   :O

[15:01] {Threei}  argh

[15:01] {Threei}  couldn't find guts to call USB short on 9 breakdown

[15:02] {dino}  well the 2-3 pattern fell apart today

[15:02] {nemo} Yeah, they're beatin' the women and children before they throw them  overboard today

[15:04] {cujo} ss DOW .60

[15:04] {Threei}  WHITE HOUSE SPOKESMAN: ALL STAKEHOLDERS IN AUTO INDUSTRY CRISIS WILL HAVE TO GIVE SOMETHING UP

[15:04] {Threei}  {GM F}

[15:06] {Threei}  great, Now AAPL goes

[15:07] {Threei}  right to my target

[15:08] {Threei}  so far, stomach proves right

[15:08] {Threei}  no flush

[15:08] {cujo} more time left in day...

[15:08] {cujo} :)

[15:08] {nemo} Kinda' funny how 232 points down isn't a flush

[15:09] {Threei}  yit's tongue in cheeck or you really don't understand what I mean?

[15:09] {cujo} me?

[15:09] {Threei}  no

[15:09] {nemo} I do...but we're so conditioned for every day being a siege

[15:09] {Threei}  lost fish

[15:10] {dino} risky sm l gymb .90

[15:10] {Threei}  that was a comment FROM particular point on

[15:10] {Threei}  when I say "I don't feel flush coming" I surely mean what happens nexy, not what already happend, right? {G}

[15:14] {magoo} it would be diferent if IF mkt could add to this pop right here and close strong

[15:14] {magoo} opposed to last 2 weeks

[15:15] {dino} 6 months more like it magoo, last positive month was aug. '08

[15:15] {Threei}  amazing

[15:15] {magoo} thanx {not}depressed enough

[15:16] {magoo} now M2M please news

[15:16] {Threei}  bounce is strong but won't take DJI in green

[15:16] {Threei}  NASDAQ, maybe

[15:16] {dino} bbbbbet?

[15:16] {magoo} alot of naz points

[15:16] {Threei}  b tw, most of bounce is in NASDAQ

[15:17] {Threei}  financials weigh on NYSE

[15:17] {Threei}  sharp pullback AAPL

[15:19] {magoo} bulls need to make a stand here and now

[15:19] {Threei}  worth a try AAPL

[15:19] {Threei}  .40 is closest support

[15:20] {Threei}  in .46

[15:20] {Threei}  stop under .30

[15:21] {Threei}  out .66

[15:21] {cujo} nice trade

[15:21] {cujo} i missed 

[15:21] {cujo} getting slow inmy old age

[15:22] {dawg} good call Vad ty

[15:22] {Threei}  :)

[15:25] {magoo} this felt diferent

[15:25] {magoo} thought we could power up

[15:25] {dino} gyumb stopped -.4-

[15:25] {dino} .40

[15:26] {Onix} is the DOW gonna loose 6600 this time?

[15:26] {Threei}  WHITE HOUSE ADVISOR ROMER: THE $634B FOR HEALTH CARE IN THE BUDGET IS A DOWN PAYMENT

[15:27] {dino} out lphi .64, +.49

[15:27] {Onix} gj dino!

[15:27] {Threei}  couple more comments about huge downpayments toward social programs, and you'll ask same question but with 5 handle {G}

[15:27] {nemo} It's kinda' funny.  I think already like 1/3rd of US citizens pay no Federal income tax.  Where is all this gonna' come from?

[15:27] {Threei}  I mean, with all this happening, is it something to focus on?

[15:28] {dino} top 10% which starts at only 65k

[15:28] {Threei}  fixing social ills?

[15:28] {geo} really????

[15:28] {dino} they pay like 80% of all taxes

[15:28] {geo} I didnt know i was top ten lol

[15:28] {nemo} Yeah...Now, if you're in that 1/3, why would you ever vote to pay taxes.  This country is fornicated

[15:29] {Threei}  are they so out of touch, or is it an attempt to push through extremely controversial program while population is busy looking at their 401 destruction?

[15:29] {geo} you mean 201k

[15:29] {Threei}  yeah, that

[15:29] {geo} :)

[15:29] {nemo} Socialists...they could care less if the market disappears...they're not capitalists

[15:29] {Threei}  soon-to-be 101

[15:29] {nemo} Then they'd be in charge of all the money

[15:30] {dino} bingo!

[15:30] {dino} this is a power grab by the democrats 

[15:30] {nemo} Yes...European socialism

[15:30] {nemo} and the republicans handed it to them

[15:30] {dino} push thru while distracted and don't need any republican votes

[15:31] {dino} the guy is a socialist 

[15:31] {nemo} You ever notice how Chavez makes speeches almost every day like HE does?

[15:32] {Threei}  I don't watch Venezuela TV... but I do have analogy

[15:32] {nemo} hehehehehe

[15:32] {Threei}  dear comrade Breznev

[15:32] {Threei}  held a speech today in the facory X

[15:32] {dino} he's acting like chavez, first the banks, says speculators are evil, next the autos, taxes up, etc

[15:32] {Threei}  collective farm Y

[15:32] {Threei}  department Z

[15:32] {nemo} eyebrows on that dude

[15:33] {nemo} missed USB again

[15:33] {Threei}  yeah, toguh thing to time

[15:34] {Threei}  after our first short on it I never found any decent entry

[15:34] {Threei}  not on a short nor on long side

[15:34] {nemo} Hate to say it, but Cramer might be vindicated

[15:34] {dino} but hey, i voted for bush and mccain. they said let the markets work it out

[15:34] {nemo} can't do that...too much suffering

[15:36] {nemo} down 400?

[15:36] {dino} i disagree, we would be closer to end of it

[15:36] {dino} capitalism has worked here for 200 years, the screwups must be put to death

[15:36] {dino} businesses that is

[15:36] {Threei}  my view is simple, as always

[15:37] {nemo} One of the problems is nobody is held responsible for their behavior rich, poor, politicians

[15:37] {Threei}  bear market has a good reason for its existence, and has a task to fulfill

[15:37] {Threei}  this task is cleansing

[15:37] {cujo} shakin out ponzi schemes

[15:37] {Threei}  getting rid of what is not performing

[15:37] {Threei}  firing

[15:37] {Threei}  bakrupting

[15:37] {nemo} Woha quite the ump in aapl

[15:37] {nemo} jump

[15:37] {Threei}  getting rid of dead wood.

[15:37] {nemo} whoa

[15:37] {dino} i agree 3i

[15:38] {Threei}  all these rescues prevent bear market from doing its job

[15:38] {cujo} yup. economic natural selection. 

[15:38] {Threei}  leaving dead wood floating

[15:38] {geo} Dino I am as capitalistic as the next guy bu i do believe we went too far

[15:38] {dino} they are wasting $$$ and prolonging the inevitible

[15:38] {Threei}  it can't float anyway

[15:38] {geo} i see all of this as a natural swing and counterswing of the pendulum

[15:38] {Threei}  and will sink

[15:38] {Threei}  taking a lot of taxpayers money with it

[15:38] {dino} saw my b-day again

[15:38] {Threei}  yes geo, but thewy do not allow pendulum to swing

[15:39] {nemo} that ain't a pendulum swingin, it's a wrecking ball!

[15:39] {Threei}  that's the problem

[15:39] {nemo} does aapl bounce again, or fall through support?

[15:39] {Threei}  no idea

[15:40] {dino} -5% s/p today

[15:40] {Threei}  last couple swings are totally out of whack

[15:40] {Threei}  DJI -320

[15:41] {geo} I think reagan and bush pushed the govt one way and obama will push the other...... what i hope for is a happy mean

[15:41] {geo} no guarantee that will happen though

[15:41] {dino} the happy mean was clinton...but see he liked $$$, stocks, and women

[15:41] {geo} so did jefferson dino

[15:42] {geo} personal ethics and ability are diff

[15:42] {dino} going way back

[15:42] {geo} humans dont change

[15:42] {geo} societal rules do

[15:42] {dino} what we have is carter+++++++++++

[15:42] {geo} now that i admit is scary

[15:42] {geo} remember carter was impeccable in etthics

[15:43] {geo} dint help

[15:43] {nemo} The US is economically toast because of offshoring...all these people need to be taken care of

[15:43] {dino} lol

[15:43] {dino} wroong!

[15:43] {nemo} I agree, but that's what they think

[15:43] {geo} nemo offshoring is as capitalist as it can get

[15:43] {dino} ok

[15:44] {nemo} I understand, but there is no industry left in the states

[15:44] {geo} thats my problem with capitalism as i see it in last 10 year

[15:44] {Threei}  FDIC PLANS TO CUT EMERGENCY ASSESSMENT FEE TO 10 BPS FROM THE 20 BPS ANNOUNCED ON 2/27 - ABA

[15:44] {Threei}  - Reminder: Back on 2/27 the FDIC raised its regular fee for banks to 12-16 basis points starting in April (previously 12-14 basis points) and added a 20bps special assessment.{

[15:44] {geo} off shore get ceo options

[15:44] {nemo} dino  :  http://www.counterpunch.org/roberts02242009.html

[15:44] {geo} and then indulge in financial enginnering to generate profits

[15:45] {nemo} eqzaktly

[15:45] {geo} but thats honest capitalism nemo

[15:45] {dino} you want jobs and savings, get natural gas kicking, get cars on it, etc. we have 120 years of the stuff, save 300 billion on trade offseeting oil and crete millions of jobs

[15:45] {nemo} Didd I spell that right Vad?

[15:45] {geo} i cannot support that version

[15:45] {Threei}  yes nemo, I am proud of you

[15:45] {geo} soiunds like a plan dino

[15:46] {dino} spelling on mine too

[15:46] {fernp} see you all tomorrow. Have a good evening

[15:46] {nemo} thanks...I understan Geo, but nobody practices pure "capitalism".

[15:46] {Threei}  take care fern

[15:46] {Threei}  what an unbelieavable rate of wealth destruction

[15:46] {geo} what disturbed me is that the american middle class has seen its earning power go down by 16% since 79

[15:46] {dino} oh yeah, and cut greenhouse gases too

[15:47] {Threei}  yep, that's another urgency

[15:47] {geo} ration of earning changed from 1:8 to 1:21

[15:47] {nemo} yes, because the true wealthbuilding jobs have gone offshore to lower costs.  You want a job, I can pay a Punjabi 1/3 of your slary

[15:47] {Threei}  we need to impose cup-and-trade tax asap

[15:47] {dino} out apol .40, +1.00 

[15:47] {geo} and this isnt poor to top ration

[15:47] {geo} ratio

[15:48] {Threei}  very nervous close guys, I can't read anything in this spike up - spike down

[15:48] {Threei}  just letting it expire

[15:48] {nemo} incoming...keep your head down

[15:48] {Threei}  bohica?

[15:49] {Threei}  oh and I wonder, how's president's advice to buy stocks is doing

[15:49] {geo} lol@vad

[15:49] {Threei}  btw

[15:49] {Threei}  you noticed that he said PROFITS to earnings?

[15:49] {Threei}  same mistake Buish once did

[15:49] {geo} you listen to him vad?

[15:49] {nemo} Isn't that giving investment advice...He needs to be registered.  Hell, we don't even know if he was born a US citizen

[15:50] {Threei}  and Bush got cricified for that by media

[15:50] {geo} hehehe nemo

[15:50] {Threei}  no word in this case

[15:50] {cujo} Barak got his series 7?

[15:50] {Threei}  I can only imagine what media woiuld do to Bush if he said America invented the car

[15:50] {dino} i said it during the  campaign, be careful for what you wish

[15:51] {cujo} you might just get it.

[15:51] {geo} i dont love the guy.... but i dont agree with no govt intervention....... govvt should have intervened to stop offshoring long ago

[15:51] {Threei}  well, one thing I was right about for the close

[15:51] {Threei}  no fluish

[15:51] {geo} problem is ... i dont know if he is capable or willing

[15:51] {Threei}  this is not a rosy close to be sure

[15:52] {nemo} No, I'd call it a solid roto-rootering

[15:52] {Threei}  in fact, we are bound to continue the downtrend

[15:52] {dino} perhaps another black friday

[15:52] {geo} i am just glad about the GLD rebound...... saved my bacon

[15:52] {cujo} i was thinking -400 but looks like we side stepped that one. 

[15:52] {Threei}  just breakd it down by two days cujo

[15:52] {cujo} yeah

[15:53] {cujo} i like to see the panic.  Waiting for "true capitulation."

[15:53] {Threei}  USB will be on watch tomorrow for a short

[15:53] {cujo} some real, Oh my god, grab the women and children, and gun kinda panic.

[15:53] {Threei}  it has all the markings of banks that go lower and lower every day

[15:53] {buyemsellem} roughly -400 since 3:30 yesterday

[15:54] {Threei}  and we already used that 1 per week green day

[15:54] {Threei}  on lousy 150 points

[15:54] {Threei}  we will have to ask dino to allow us one more

[15:54] {geo} i flipped my 401k to treasuries last year

[15:55] {geo} now i worry about treasuries !!!!

[15:55] {buyemsellem} yeah, weaker than last week's green day

[15:55] {dino} i just can't 3i

[15:55] {Threei}  please?

[15:55] {dino} hmmmmm

[15:55] {geo} comeone dino....

[15:55] {geo} i am votnig for you as prez

[15:55] {dino} i give you ndx green tomorrow but thats all

[15:55] {geo} cool

[15:56] {Threei}  if I wasn't scared of m2m overnight, I'd take USAB short

[15:56] {Threei}  USB

[15:57] {geo} wow regionals down 13.5 today

[15:57] {Threei}  how orinic is i... GE is green!

[15:57] {Threei}  ironic

[15:57] {buyemsellem} you could buy a USB 7.50 or 5 put

[15:58] {buyemsellem} the 5 strike is .20

[15:58] {buyemsellem} for march

[15:58] {Threei}  I don't do options

[15:58] {buyemsellem} got it

[15:58] {geo} hmmm

[15:58] {Threei}  but if I did, that would be the best approach

[15:58] {Threei}  I think

[15:58] {geo} not for me buem

[15:58] {geo} buyem

[15:58] {magoo} lil better close imo

[15:59] {geo} oh ok   .25/.26 sorry

[15:59] {dino} yeah and options exp is the 20th, so the 12th is the m2m meeting

[15:59] {Threei}  okay guys

[15:59] {Threei}  thank you all

[15:59] {geo} highest open interest too

[15:59] {Threei}  we navigated through the day very well

[15:59] {geo} 200k options

[15:59] {cujo} have a good one. 

[16:00] {Threei}  tomorrow will be very interesting

[16:00] {cujo} yes

[16:00] {Threei}  have a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {buyemsellem} yes, tomorrow

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

[16:00] {dino} thx all

[16:00] {nemo}  c ya

[16:01] {vint} good evening all