Mar 06 2009

Difficult day with no follow-through, each trade felt like pulling teeth. Some wins and some scalps, a little up, a little down, finally ended on a slightly negative side. 

Session Time: Fri Mar 06 00:00:00 2009

[08:08] {cosmo} (Reuters) - Private equity firm 3i Group Plc (III.L) has put its majority stake in Franklin Offshore International up for sale, sources said on Friday, hoping to fetch about $400 million for the oil services group.

[08:09] {cosmo} 3i agreed to buy the stake in July 2007 for an undisclosed sum. 3i and Franklin Resources hoped to have the company list in Singapore late last year, but the plans were pulled when the IPO markets crashed, sources said.

[08:09] {cosmo} JPMorgan Chase & Co (JPM.N) is advising and running the auction process, sources said. 3i and JPMorgan declined to comment. The bank was also assigned to Franklin's IPO attempt.

[08:09] {cosmo} The sources declined to be named because they were not authorized to speak on the record.

[08:09] {cosmo} gee...3i:)

[08:09] {Threei}  that's obviously not me... bad trade

[08:10] {cosmo} agree

[08:10] {nemo} moning

[08:10] {nemo} morning

[08:10] {Threei}  good morning

[08:16] {Threei}  (US) PROFESSOR NOURIEL ROUBINI: US CREDIT LOSSES TOTAL $3.6B, ADDING LIQUIDITY TO BANKS WILL NOT SAVE THEM; BELIEVES THE GLOBAL FINANCIAL SYSTEM IS GETTING WORSE, NOT BETTER

[08:16] {Threei}  - Calls on governments to take over banks, cleanse them and quickly sell them to investors.

[08:16] {Threei}  - Expects global economy to effectively be in a recession through the end of 2010, sees growth returning in 2011.

[08:16] {Threei}  - Believes the global recession could get worse, G7 & G20 have to work together to fight the recession.

[08:16] {Threei}  - India and China face setbacks in the short term. Sees Chinese 2009 growth around 5%

[08:16] {Threei}  - Government actions to combat recession are "too little, too late.

[08:16] {Threei}  idiot

[08:17] {Threei}  BAC

[08:17] {Threei}  NY TIMES REPORTS MERRILL HAS DISCOVERED "IRREGULARITIES" AT ITS TRADING UNIT - UPDATE

[08:17] {Threei}  - Article noted that Merrill Lynch may have lost hundreds of millions of dollars on currency trading and credit derivatives last year

[08:17] {Threei}  - The article noted that particular concern were in the activities of a Merrill currency trader in London whose loss believed to have incurred so alarmed Bank of America that this week the bank examined the books of other traders who were on vacation.

[08:18] {nemo} Oh jeez.

[08:18] {Threei}  and we are being told those fairy tales about big scary professional trders that get every penny possible from the markets

[08:19] {nemo} They're talking about you Vad

[08:19] {Threei}  why are financials gapping up?

[08:20] {Threei}  annews I missed?

[08:20] {nemo} FAZ is climbing...I don't see any specific news, might be bounce

[08:20] {nemo} oops FAZ just fell

[08:20] {Threei}  ty

[08:21] {Threei}  don't use FAZ for this purpose

[08:22] {Threei}  too volatile, makes hectic movements not reflecting trend but big enough to create fals impression of dijr5ection

[08:22] {Threei}  only typed better

[08:23] {nemo} I can read it...I've been deciphering russian's chicken scratch in English for 20 years

[08:24] {nemo} O.k. well I just looked at the BKX, it is trending upwar from yesterday, but no news.  Dead Cat Bounce

[08:28] {magoo} morning

[08:28] {Threei}  magoo :)

[08:29] {magoo} here comes jobs

[08:29] {magoo} hi vad

[08:29] {Threei}  well... let's see greatly improved data

[08:30] {Threei}  and market rallying 2400 points

[08:30] {Threei}  FEB UNEMPLOYMENT RATE: 8.1% V 7.9%E

[08:30] {Threei}  FEB CHANGE IN NONFARM PAYROLL: -651K V -650KE; CHANGE IN MANUFACTURING PAYROLLS: -168K V -200KE

[08:31] {Threei}  FEB AVERAGE HOURLY EARNINGS M/M: 0.2% V 0.2%E; AVERAGE WEEKLY HOURS: 33.3 V 33.3E

[08:31] {cujo} morning all

[08:31] {Threei}  cujo :)

[08:31] {magoo} wfc going nuts

[08:34] {Threei}  ok.. what do I miss in these numbers?

[08:34] {magoo} well..its good mkt wants up

[08:34] {magoo} doesnt care that numbers are bad

[08:34] {magoo} cause they are bad

[08:34] {Threei}  no... this reaction is of another kind

[08:35] {Threei}  good reaction on bad numbers looks differently

[08:35] {Threei}  it's usually initial move in the "obvious" direction

[08:35] {Threei}  then stabilizing under the pressure

[08:35] {magoo} so explain

[08:35] {Threei}  slow return to breakeven

[08:36] {Threei}  then surprize break and strong vounter move

[08:36] {Threei}  much l.ike PALM did yesterda on cosmo's call

[08:36] {Threei}  this was rather reaction as if market really saw good numbers

[08:36] {Threei}  but since it'

[08:37] {Threei}  s already largely reversed, I guess people just can't read

[08:38] {cujo} i forgot to tell you guys, its opposite day.  that sort of explains it doesn't it?

[08:39] {Threei}  well... at least as far as anything happening in the market requires explanation :)

[08:40] {Threei}  someone on CNN yesterday made a remark:

[08:41] {Threei}  business feels increasingly alienated by the administration, and unless something changes in this regard, we are looking at a prolonged period of very bleak economic developments

[08:42] {Threei}  my presonal feeling is, they see market as necessary evil

[08:42] {Threei}  if they could do away with it they would

[08:42] {Threei}  and the market now reflects not so much problems inherited from before

[08:43] {Threei}  but its impressions of the policies of current WH

[08:43] {Threei}  do you feel that fear, palpable in the air once again, this time is different from the fear of the fall of 2008?

[08:48] {cujo} unemployment to 1983 levels.... geesh

[08:49] {elepet} good morning all

[08:50] {elepet} what's with WFC?

[08:50] {Threei}  elepet :)

[08:50] {cujo} cut dividend ithink

[08:50] {cujo} i think

[08:51] {Threei}  08:00am [WFC] Cutting dividend from $0.34 to $0.05; update on Wachovia, notes merger is "on track" for $5B in annual savings

[08:51] {Threei}  - The next dividend is expected to be declared in April 2009.

[08:51] {Threei}  - The actions were taking every day to build our Company and to strengthen our balance sheet including the dividend and expense reductions will help co to repay the governments investment at the earliest practical date.

[08:51] {Threei}  - CFO: Mortgage originations for the first two months alone were $59B , exceeding in two months the exceptionally strong fourth quarter of 2008, and mortgage applications were $107B

[08:55] {nemo} Vad...what's your thoughts on this new GETCO routing option?

[08:55] {Threei}  none

[08:55] {nemo} fine

[08:56] {Threei}  who cares

[08:57] {dino} gm all

[08:57] {Threei}  dino :)

[08:57] {dino} is it possible to get 2 up days in one week

[08:58] {Threei}  if so... I hope second green day is not as pathetic as previous one

[08:58] {Threei}  but amnot holding my breath

[09:00] {geo} good morning

[09:00] {Threei}  geo :)

[09:03] {Threei}  GM

[09:03] {Threei}  PRICE TARGET CUT TO $0.01, REITERATES SELL RATING

[09:03] {Threei}  - States: $0.01 is due to the increasing risk of bankruptcy at GM andthe fact that new debt provided by the government will further crowd out equity

[09:03] {Threei}  value

[09:03] {pita} gm everyone

[09:03] {Threei}  pita :)

[09:05] {dptl} good morning all

[09:05] {Threei}  dp :)

[09:07] {Onix} gm all

[09:07] {Threei}  onix :)

[09:09] {dawg} good morning

[09:10] {Threei}  dawg :)

[09:12] {_paliyad2009} good moring Vad. next 7 days i will be on vicodine, so will join you after that

[09:12] {Threei}  hi

[09:12] {_paliyad2009} thanks for letting me in your home

[09:12] {Threei}  sure... hope your health is OK

[09:12] {_paliyad2009} will send rest of info this weekend

[09:13] {_paliyad2009} i had minore solder surgery

[09:13] {Threei}  I see... wishing you fast recovery then

[09:15] {ese} morning

[09:16] {Threei}  ese :)

[09:16] {fernp} Hello everybody

[09:16] {Threei}  fern :)

[09:17] {vint} good morning all

[09:17] {Threei}  vint :)

[09:17] {gen} gm everybody

[09:18] {Threei}  gen :)

[09:18] {gen} Vad :)

[09:18] {Threei}  this promises to be an interesting day

[09:19] {Threei}  let's skip first minutes unless something very tempting appears,

[09:19] {Threei}  I would likle to get a feel first for what we are facing today, more depseration or some relief

[09:19] {ese} yo vint........i'm hoping the your nick is short for vintner........and i was thinking that all of us would be drinking alot of wine soon........ah well.....jjust a hope and a dream

[09:19] {Threei}  really can't tell yet

[09:19] {cujo} USB still a candidate?

[09:20] {Threei}  USB, watching for possible short

[09:21] {Threei}  is relentless seling resumes, this one seems to be on its way to 8,7,6 etc

[09:21] {Threei}  is = if

[09:21] {Threei}  I just don't want to jump in too early and get steamrolled by some irrational bounce

[09:22] {Threei}  WFC gap is weird

[09:22] {geo} slashed dividend euphoria?

[09:22] {Threei}  STT on watch as usual, for sharp dibve and strong bounce

[09:23] {Threei}  yeah, but... none of financials previously done that showed any serious recovery

[09:23] {Threei}  GE being latest example

[09:28] {patience} gm RT  :)

[09:28] {ese} morning patience

[09:29] {Threei}  patience :)

[09:29] {ese} lookin like a nice morning in our neck of the woods

[09:29] {patience} sun just coming up here ese, another day in paradise

[09:30] {Threei}  and we wonder why our real esate sales are up :)

[09:30] {patience} had to mow the lawn yesterday, neighbourly pressure

[09:30] {pita} still 2' snow on ground here :)

[09:31] {ese} ya we had to cut back some greenery as well

[09:32] {ese} l DRYS .75

[09:32] {ese} 1/2

[09:33] {dino}   my yard still covered too pita

[09:33] {ese} stop .64

[09:33] {pita} life in the mountains

[09:33] {Threei}  hesitated on USB .15 short triger...

[09:33] {nemo} Yeah I was gonna say, there goes USB

[09:33] {Threei}  let's see if it gives us a bounce

[09:34] {cosmo} ese:  i gotta get some trimming in before the bird nests get too thick

[09:34] {Threei}  STT sharp selling

[09:35] {geo} BK too

[09:36] {ese} added another 1/2 DRys  avg .76 full lot

[09:36] {Threei}  STT did exactly what I wanted but I missed it

[09:37] {magoo} yup

[09:37] {ese} snow gone for you cos

[09:37] {nemo} Couple of shots should help

[09:37] {dino} strange, aapl, rimm, wmt fdo dltr neg.

[09:37] {Threei}  WHITE HOUSE ECONOMIC ADVISOR ROMER: NO WAY TO PUT A POSITIVE SPIN ON TODAY'S JOBS DATA - CNBC INTERVIEW

[09:38] {cosmo} snow?   whats that

[09:38] {ese} where do you live?

[09:38] {geo} wow stt spike

[09:38] {cosmo} san diego

[09:38] {geo} same here cosmo... LA

[09:38] {ese} for get the snow

[09:38] {pita} USB too

[09:38] {buyemsellem} That's what spin is you make it seem positive even when there's no way

[09:38] {cosmo} dont call SD LA....

[09:38] {cosmo} :)

[09:39] {geo} sheesh provincials

[09:39] {cosmo} well ...i was born in east LA

[09:39] {geo} i work there

[09:39] {geo} USC health sciences campus

[09:40] {ese} drys stop to break even .76

[09:40] {cosmo} took down my hospital for urban renual

[09:40] {Threei} Short Setup: USB  9.15 if stays under .25

[09:41] {dptl} stopped

[09:41] {dino} that spin girl just said we did not know numbers would look like this. they are clueless, what were they expecting

[09:42] {cosmo} spin girl?

[09:42] {dino} white house girl on cnbc

[09:42] {cujo} I feel like dropping the D word.

[09:42] {geo} D?

[09:42] {dino} how could they not expect these numbers????????????/

[09:42] {cujo} i feel depression comming

[09:43] {geo} hmmm

[09:43] {cosmo} that's good cujo ... it beats fear

[09:43] {ese} out DRYS .97

[09:43] {cujo} ha ha

[09:43] {Threei}  wtg ese

[09:44] {ese} +.26 full lot ....aye lads thaaaa be the way to start the day

[09:44] {fernp} gj ese

[09:44] {dino} mant sm l .95

[09:44] {ese} tks

[09:44] {Threei} Long Setup:  BRCM  17 break

[09:44] {dino} lol gj es

[09:45] {Threei}  stop for scalpers under 16.90, for day traders under 17.80

[09:45] {ese} mant recovering a little dino after the beating the other day

[09:46] {Threei}  half out BRCM

[09:46] {dino} not for me stopped

[09:46] {Threei}  scalpers have 1:1

[09:47] {Threei}  stop to .95 for the balance

[09:48] {geo} what was that

[09:48] {Threei}  ?

[09:48] {geo} sharp drown down on no vol

[09:49] {geo} sorry lots vol

[09:49] {geo} CNQ nicely strong

[09:50] {Threei}  scalpers win

[09:52] {nemo} any news onr RTP Vad?

[09:53] {geo} seems most metals miners strong today

[09:56] {cosmo} hmm ...like CAT

[09:56] {cosmo} ?

[09:56] {Threei}  RTP, not really

[09:57] {nemo} was up big so far

[09:59] {geo} .

[10:01] {Threei} Long Setup:  CAT  .35

[10:01] {Threei}  stop under .20

[10:02] {dptl} in.36

[10:02] {nemo} in .33

[10:02] {magoo} in

[10:02] {magoo} full vad?

[10:02] {Threei}  15 cents stop... why not?

[10:02] {dino} ndx red

[10:03] {Threei}  no worky

[10:03] {nemo} out

[10:03] {dptl} stopped

[10:06] {nemo} cat bounce coming? hehehe

[10:10] {Threei}  US SENATE MAJORITY LEADER REID: OPTIMISTIC TO PASS BUDGET BILL BY NEXT WEEK

[10:12] {Threei}  wierd disconnect in the market today

[10:13] {dino} agree

[10:13] {nemo} yeah...I was gonna' say it has become odd...it's like it's had a psychotic break...

[10:13] {dino} my usuals are all down

[10:13] {dino} i prefer peculiar

[10:14] {Threei}  I can hadrly believe it but USB actually looks like long on .60 break

[10:14] {nemo} tomato tomahhto

[10:15] {Threei}  .45 is invaliadting level, and I hope it invalidates instead of triggering, lol

[10:16] {Threei}  my wish is granted

[10:16] {geo} lol

[10:18] {nemo} trap door day coming?

[10:18] {magoo} f'in mkt can never hold

[10:19] {nemo} "f'in" as in FINancial?

[10:19] {geo} looks like by the end of this , like the 70s only pros will be left

[10:19] {geo} all retailers burnt

[10:19] {magoo} no..as is curse word

[10:21] {Threei} Short Setup: WFC  9 break

[10:21] {Threei}  stop above 9.10

[10:22] {dptl} in

[10:22] {Threei}  NASDAQ COMPOSITE MOVES BELOW NOVEMBER 2008 INTRADAY LOWS AT 1295

[10:22] {Threei}  - at lowest level since March 200

[10:23] {nemo} in

[10:23] {Threei}  March 2003 was my "Mother of All Bottoms" call

[10:25] {Threei}  US) LABOR SEC: WILL DO WHATEVER IS NEEDED TO BREAK THE DESTRUCTIVE JOB LOSS TREND

[10:25] {Threei}  WFC 1:1

[10:25] {dptl} half out

[10:28] {Threei}  sto to 9.05

[10:28] {Threei}  stop

[10:30] {Threei}  held by fingertips

[10:35] {geo} hmm aapl breakdown of 85

[10:36] {Threei}  1:2 WFC

[10:37] {dino} sitting

[10:38] {dptl} .80 out some more..ty

[10:39] {Threei}  like pulling teeth

[10:39] {dptl} stop to over 9

[10:39] {Threei}  yeah

[10:44] {dptl} to .95

[10:45] {Threei}  GS is getting killed

[10:46] {Threei}  REPORTEDLY GE CAPITAL HAS OFFERED TO BUY BACK SOME FIXED AND FLOATING BONDS - CNBC

[10:47] {Threei}  WFC 1:3

[10:48] {ese} slowly sinking into oblivion....this market

[10:48] {dptl} stop to .86

[10:49] {Threei}  EU'S JUNCKER: ECONOMIC CRISIS 'ABSOLUTELY CATASTROPHIC'; EXPECTING EU ECONOMY TO BE WORSE IN 2H09; FEW SIGNS OF ECONOMIC IMRPOVEMENT

[10:49] {Threei}  - Notes that there is the expectation of a 'slight' pickup of growth in 2H10{IXG EUR/GBP EUR/USD EUR/CHF EUR/JPY}

[10:51] {Threei}  I am out WFC in full, this water torture gets to my nerves, LOL

[10:51] {Threei}  +.30

[10:51] {dptl} bidding .50 last

[10:52] {nemo} Rimm Vad...setting for a short?

[10:52] {Threei}  36 breakdown...

[10:52] {Threei}  yeah

[10:52] {Threei}  half lot

[10:53] {Threei}  stop is a bit wide for my taste, above .20

[10:53] {Threei}  so I'd prefer to keep smaller lot

[10:53] {Threei}  there is one more resistance showing stop .15

[10:53] {Threei}  just not very pronounced

[10:54] {Threei}  hey

[10:54] {Threei}  Prez on TV

[10:54] {Threei}  missed him?

[10:54] {dino} obama on tv again

[10:54] {geo} ah comon

[10:54] {Threei}  cover half RIMM

[10:55] {Threei}  or take scalp

[10:55] {Threei}  really can't tell

[10:55] {Threei}  good spot nemo

[10:55] {nemo} broken clock is right twice a day

[10:56] {geo} lemme know the second time too

[10:56] {dino} lol

[10:56] {nemo} well, that.s the catch

[10:56] {nemo} thats

[10:57] {buyemsellem} guess who's talking

[10:57] {magoo} obama

[10:57] {Threei}  new breakdown

[10:57] {dptl} out wfc ty

[10:58] {Threei}  wtg dp

[10:58] {Threei}  got 50 cents eh?

[10:58] {dptl} on last 100 sh yes

[10:59] {geo} vad i am short spy from 68.5

[10:59] {geo} stop pls?

[10:59] {geo} right now above.42

[11:00] {geo} banked half

[11:00] {Threei}  I wouldn't trail it just yet

[11:00] {geo} ok

[11:00] {Threei}  I would wait for it to break 68

[11:00] {geo} ok

[11:00] {Threei}  and then trail to above the high of the bounce before break

[11:00] {nemo} cat short if it breaks .20

[11:01] {geo} looks like breaking

[11:01] {magoo} has support level @ 67.70

[11:01] {Threei}  if breaks from here, stop to .25

[11:01] {Threei}  CAT, if holding under .30 nemo

[11:02] {geo} 67.70 magoo? from when?

[11:02] {nemo} ty

[11:02] {magoo} bob byrne tracxks it on real money

[11:02] {geo} TY

[11:03] {geo} broke

[11:03] {dptl} s cat .18

[11:04] {dptl} sigh....stopped

[11:04] {Threei}  IMF: G20 ECONOMIES FACE A SOMBER OUTLOOK, STRONG DOWNSIDE RISKS

[11:04] {Threei}  - Must insure that solvency is not at risk

[11:04] {Threei}  - Sees failure of market discipline as cause of current financial situation

[11:04] {Threei}  - Current credit issues are straining nearly ever nation's budget

[11:04] {Threei}  - Central banks must have the ability to add flexibility and liquidity

[11:06] {nemo} starting to sense hopelessness and despair in the market

[11:07] {Threei}  starting?

[11:07] {Threei}  starting??

[11:07] {Threei}  hehe

[11:07] {nemo} all the bottom callers are giving up

[11:07] {Threei}  can you say "behind the curve"?

[11:07] {nemo} to be more precise

[11:07] {nemo} no...everybody's been calling the bottom, I think they're giving up

[11:08] {Threei}  they'd do a service if they did it months ago...

[11:08] {Threei}  maybe we already had a bottom in then, lol

[11:08] {Threei}  but really, the nature of this wave of selling we see over last weeks is different than one we had in the fall

[11:09] {fernp} USB lod

[11:09] {geo} out...

[11:09] {geo} higher low

[11:09] {geo} .44

[11:10] {patience} insurance company selling some vad

[11:11] {Threei}  ?

[11:11] {Threei}  sorry, don't undersztand

[11:12] {patience} some large insurance companies holding market positions are selling

[11:13] {geo} glad am out

[11:14] {patience} large potash companies getting hammered thanks to largest russian potash company undercutting everybody massively in selling to brazil...

[11:14] {patience} just waiting for my POT price to come to me

[11:15] {Threei}  JPM

[11:15] {Threei}  BREAKS BELOW 2002 LEVELS AT $15.26, NOW AT 1995 LEVELS

[11:15] {magoo} news aapl vad or general pummeling

[11:15] {Threei}  chart's similar to market

[11:22] {Threei}  GS...

[11:22] {Threei}  worth start trying for bounce

[11:23] {Threei}  .50 is nearest support

[11:23] {nemo} small

[11:25] {Threei}  FED'S DUDLEY: DELEVERAGING IS FAR FROM OVER, SEES COMPLETE BREAKDOWN IN TRUST ACROSS ALL MARKETS, SEES NO IMMINENT RECOVERY FOR EITHER MARKETS OR THE LARGER ECONOMY

[11:25] {Threei}  - Believes next version of TALF will include other asset classes like CMBS, TALF will expand sharply in coming months; TALF eliminates much of the downside risk for ABS investors.

[11:25] {Threei}  - US economy faces considerable downside momentum.

[11:25] {Threei}  - Believes hedge funds will halve their assets by the end of the crisis.

[11:25] {Threei}  - A central counter party is needed for derivatives, better transparency needed for securities.

[11:25] {Threei}  - Bank stress testing should help banks improve their positions.

[11:25] {Threei}  - US needs an accounting scheme that truly addresses risk.

[11:29] {Threei}  ok... took .61

[11:29] {Threei}  stop under .40

[11:29] {nemo} what in GS?

[11:29] {Threei}  yes

[11:30] {Threei}  half out .93

[11:30] {magoo} in with ya

[11:30] {Threei}  want to get greedy here

[11:30] {Threei}  aiming for a full buck, maybe more

[11:31] {ese} Swahelee    that I believe is what this market is talking........how else can I explain the fact that i don't understand it.......Swahelee......hah!!! i knew it!

[11:31] {Threei}  out

[11:32] {Threei}  +$1.02

[11:32] {nemo} it's english ese...that's the problem

[11:32] {magoo} out .51 TY

[11:32] {magoo} +.90

[11:32] {Threei}  welcome sir

[11:32] {Threei}  anyone else?

[11:32] {ese} no kidding eh!

[11:32] {magoo} oh wait..out .52 lol

06[11:33] * Threei slaps magoo around a bit with a large calculator

[11:34] {Threei}  tide is changing

[11:34] {geo} out .7

[11:34] {geo} thanks vad

[11:34] {Threei}  :)

[11:39] {Threei}  WFC

[11:39] {Threei}  EXEC: JOB LOSSES WILL OCCUR DUE TO INTEGRATION OF WACHOVIA; WILL AIM TO AVOID LOSSES

[11:40] {Threei}  ese is right

[11:40] {Threei}  this is not english

[11:40] {nemo} not russian either, huh?

[11:40] {Threei}  job losses WILL occur - but we will aim to avoid them

[11:40] {Threei}  huh?

[11:41] {nemo} to ese's "this is not english"

[11:41] {nemo} mmmhhhh GS double topped

[11:46] {dino}   crazy this one up/week pattern

[11:47] {magoo} GS worth another shot vad or death comith?

[11:48] {dino} feels like death coming

[11:48] {Threei}  can't tell

[11:48] {Threei}  staying away for now

[11:54] {magoo} u like RIMM down here vad?

[11:54] {Threei}  36 break

[11:55] {Threei}  worth a try

[11:56] {dptl} stop under .80?

[11:56] {Threei}  yup

[11:56] {dptl} in

[11:59] {Threei}  it got so close to 1:1, reasonable to trail stop to under .90

[11:59] {Threei}  DNA?

[12:00] {Threei}  FED'S DUDLEY: BUYING TREASURIES NOW WOULD NOT HELP THE FED ACCOMPLISH ITS GOALS, FED HAS DECIDED THAT BUYING TREASURIES WOULD BE THE BEST STEP RIGHT NOW - Q&A

[12:00] {Threei}  huh?

[12:01] {Threei}  - There is no clear indication of when the Fed's balance sheet can be seen as having grown too large

[12:01] {Threei}  - Fed balance sheet will shrink as markets improve.

[12:01] {Threei}  - Public-private investment fund will put a floor under asset prices.

[12:01] {Threei}  - Govt has clearly stated its intent to keep the banks solvent.

[12:01] {Threei}  - believes credit ratings should be viewed with an element of skepticism.

[12:01] {Threei}  wtf DNA?

[12:02] {Threei}  half out RIMM

[12:02] {dino} aro sm l .80, stop lod

[12:02] {dptl} out half.20

[12:03] {dptl} just got 200sh......down too much

[12:03] {nemo} I think I' go short rimm here

[12:04] {Threei}  stop to .95

[12:04] {Threei}  not sujre why you would want to short RIMM there

[12:05] {nemo} I'm a broken clock this isn't the second time

[12:05] {magoo} out ruimm .18 TY vad

[12:05] {Threei}  DNA

[12:05] {magoo} in.91

[12:05] {Threei}  ROCHE INCREASES OFFER TO $93/SHR FROM $86.50; EXTENDS OFFER TO MIDNIGHT, MARCH 20

[12:05] {Threei}  - Other terms unchanged

[12:05] {Threei}  - Roche noted that it desires to move quickly to attain all remaining financing for the transaction; notes that after conversations with shareholders believed was in best interest to bring deal to a conclusion quickly{

[12:06] {geo} 2/3 out .23

[12:08] {geo} off to work....have a great weekend all .... thanks vad

[12:08] {dptl} under .15 now rimm stop?

[12:08] {Threei}  take care geo

[12:08] {Threei}  hmmm

[12:08] {Threei}  that's very aggressive stop trailing

[12:09] {Threei}  easy to get shaken

[12:09] {Threei}  epends on your priority

[12:09] {dptl} so still .95

[12:09] {Threei}  if profit preservation, then yes

[12:09] {Threei}  if profit maximization, then .99

[12:09] {dptl} ok got it ty

[12:09] {Threei}  and to .15 after it breaks .30

[12:10] {magoo} [12:05] {magoo} out ruimm .18 TY vad

[12:10] {magoo} [12:05] {magoo} in.91

[12:11] {Threei}  mags... I would say good job... but I swore not to tell any endorsing word in your address today

[12:11] {Threei}  no particular reason

[12:11] {magoo} :)

[12:11] {Threei}  come Monday I will

[12:11] {magoo} didnt want u worrying over me

[12:12] {Threei}  unless I come up with the reason

[12:13] {Threei}  plea deal for Madoff?

[12:13] {Threei}  wow

[12:13] {dino} tap sm l .80

[12:14] {Threei}  mags, I came up with the reaon for Monday

[12:14] {Threei}  unless you tell me you rented fallen and watched it over weekend, my today's plea will continue on Monday

[12:15] {dino} lol

[12:17] {Threei}  here is new high on RIMM

[12:17] {nemo} yep I screwd up

[12:17] {dptl} to .15

[12:17] {dino} i do several times a day nemo

[12:18] {nemo} I understand

[12:18] {Threei}  heh

[12:18] {nemo} what?

[12:18] {Threei}  if you listen to my wife, I do it just once

[12:18] {Threei}  but uninterruptedly

[12:19] {nemo} from the time you get up in the morning right?

[12:19] {Threei}  no... from the moment we met

[12:19] {nemo} What's her excuse, then?

[12:19] {Threei}  I never asked

[12:20] {dptl} ok out rimm

[12:21] {dino} see how off i am this week, yesterday i said only + would be ndx

[12:22] {Threei}  they switched places today

[12:22] {Threei}  DJI is actually stronger

[12:22] {Threei}  haven't seen this in quite a while

[12:22] {dino} i'm going to go to costanzza mode

[12:22] {Threei}  hehe

[12:23] {magoo} tuna on white dino?

[12:26] {dino} aro stopped -.18

[12:27] {dino} buffett's down about 50 pts on his gs buy

[12:27] {nemo} rimm resisting somewhat the NDX rop

[12:27] {nemo} rop=drop

[12:31] {dptl} wynn?

[12:31] {dptl} short.80?

[12:33] {Threei}  if stays under 15...

[12:34] {dptl} ok ty

[12:34] {Threei}  if market drops, maybe aggressive entry is better

[12:35] {ese} qqqqfightin back

[12:36] {Threei}  not in short list

[12:36] {dptl} yeah

[12:38] {Threei} Short Setup: GS  .50

[12:38] {magoo} where u thinkin exit?

[12:38] {magoo} 73.90 area if triggs

[12:39] {Threei}  need it to consolidate a bit closer to trigger

[12:39] {magoo} yea..could go other way

[12:39] {Threei}  too far from there now

[12:39] {nemo} GS isn't listening

[12:40] {nemo} makes me feel better after rimm ignored me

[12:40] {pita} later all, gl

[12:41] {Threei}  take care pita, have a good weekend

[12:41] {Threei} Short Setup: AFL  .89

[12:41] {Threei}  if stays under 13

[12:43] {dptl} in.87

[12:45] {Threei}  GS setup is back, with stp above .75

[12:46] {dptl} in gs

[12:46] {nemo} in.48

[12:46] {Threei}  AFL 1:1

[12:49] {dptl} half out afl.77

[12:49] {dptl} ty

[12:49] {Threei}  welcome

[12:50] {Threei}  GS touched on 1:1, enough to trail stop to above .601:1

[12:50] {Threei}  to above .60

[12:50] {nemo} didn't get it in red

[12:51] {dptl} out gs

[12:51] {dptl} stop to .95 afl?

[12:52] {Threei}  .91 even

[12:52] {Threei}  let's keep things strict

[12:53] {dptl} ok

[12:53] {Threei}  SEC SCHEDULES A ROUNDTABLE TO LOOK AT OVERSIGHT OF CREDIT RATINGS AGENCIES ON APRIL 15

[12:57] {dptl} out

[12:58] {dino} rumors about halting downgrades on ratings for financials

[12:58] {Threei}  lol, seriously?

[12:58] {Threei}  yeah, that'll do it

[12:59] {Threei}  let's just wear pink glasses

[12:59] {Threei}  and don't pay attention to the man behind the curtains

[12:59] {dino} minyanville had "rumors' about govt telling them to stop

[13:00] {Threei}  let's do more of all the things that got us in this mess

[13:00] {Threei}  give out more credits, at lower rates,

[13:00] {Threei}  keep artifical ratings

[13:00] {Threei}  encourage people to borrow and spend

[13:01] {Threei}  prop housing prices

[13:01] {dino} don't shoot the messanger, and again it's just a rumor (so far)

[13:02] {Threei}  I know :)

[13:02] {Threei}  I think I am in parallel universe

[13:02] {Threei}  in mine, there is common sense

[13:02] {Threei}  in this one obviously none

[13:02] {dino} well, you must understand, obamination was "shocked" at the unemployment numbers

[13:03] {Threei}  who wouldn't

[13:04] {dino} they have been estimated for weeks, it should not have shocked anybody

[13:05] {Threei}  well, I for one was shocked to hear yesterday that Treasury department consists of

[13:05] {Threei}  how many people do you think?

[13:06] {dino} n idea say 20

[13:06] {Threei}  that's what I thought

[13:06] {Threei}  turns out - 1

[13:06] {Threei}  Timmy

[13:06] {Threei}  that's it

[13:06] {dino} roflol

[13:06] {Threei}  no one else in the offices

[13:06] {Threei}  two nominees turned down positions

[13:07] {Threei}  his deputy-to-be quit yesterday

[13:07] {Threei}  no staff

[13:07] {Threei}  it's Tim alone

[13:07] {dino} not inspiring confidence

[13:07] {Threei}  can you believe this?

[13:08] {Threei}  is it any wonder he is MIA?

[13:09] {ese} take care see ya all monday....

[13:09] {Threei}  take care ese, have a good weekend

[13:09] {ese} you also vad......looks like a good one.

[13:10] {Threei}  yup, great weather

[13:10] {Threei}  threading water today... a little up, a little down, a little up...

[13:10] {nemo} the weather, or trading?

[13:10] {Threei}  trading

[13:10] {Threei}  something changed today in the market and I can't quite put my finger on it

[13:11] {nemo} I was gonna' say, you're describin New England weather

[13:11] {nemo} GS C&H?

[13:12] {dino} slow fall feels like

[13:12] {nemo} CAT and AFL kinda look the same way

[13:12] {Threei}  GS, kmind of, but too far from break point

[13:13] {nemo} where break point?

[13:13] {nemo} doesn't matter now it dropped

[13:13] {Threei}  your C&H has a rim around .85 - .90

[13:14] {Threei}  FED'S HOENIG: TARP HAD NO 'CLEAR SET OF PRINCIPLES'; US IS DRIFTING INTO NATIONALIZING BANKS 'PIECEMEAL'; US HAS BEEN TOO QUICK TO PROVIDE LIQUDITY AND CAPITAL WITHOUT PLANS

[13:14] {Threei}  - Remarks that the Govt has yet to address issue that some firms have insolvent positions

[13:14] {Threei}  - Says that the US should not provide money capital and then micro manage

[13:15] {Threei}  wait, let me get this straight

[13:15] {Threei}  half year after they all, Fed included, pushed for TARP threatening immediate collapse

[13:15] {nemo} ready, fire, aim

[13:16] {Threei}  they come out and say that was a mistake?

[13:16] {Threei}  and pretend they had nothing to do with it?

[13:16] {Threei}  detached observers that comment now how US did a wrong thing?

[13:16] {Threei}  pardon all the French I just thought

[13:16] {nemo} merde

[13:18] {nemo} cat short under .18

[13:18] {nemo} ?

[13:19] {Threei}  not sure

[13:19] {Threei}  this kind of setups didn't work on CAT today

[13:21] {nemo} it would have to be under .16 I think actually

[13:24] {nemo} hey geo, there was my second

[13:24] {nemo} chek that

[13:28] {nemo} looks like cat wants up

[13:33] {Threei}  I don't see any indication either way

[13:41] {nemo} volue spike on cat

[13:41] {nemo} volume

[13:43] {Threei}  flush or no flush?

[13:43] {dino} lol, just reading some upgrades, today jpm upgrades fdo target 29, it was 31 yesterday

[13:43] {nemo} Well, this market is FOS so I guess you have to flush it

[13:43] {Threei}  lol

[13:45] {nemo} looks like once CAT broke that LOD resistance-bye!

[13:46] {nemo} afl coming o same point

[13:48] {nemo} this time of ay sure treachorous

[13:51] {Threei}  USB... if we get real flush, that would be my preferred short candidate

[13:51] {Threei}  actually, yesterday's low was the best entry... missed ir

[13:53] {Onix} Vqde, USB - what is a flush?

[13:54] {Threei}  market selloff

[13:54] {Threei}  but don't call me Vqde, I can't pronounce that

[13:55] {Onix} sorry - nervious cause got into USB early

[13:59] {Threei}  HIG, can you believe the price?

[14:02] {magoo} that hits mre home

[14:02] {magoo} my life ins co

[14:02] {Threei}  HIG?

[14:02] {magoo} hartford right?

[14:02] {Threei}  yup

[14:14] {Threei}  CHRYSLER PRESIDENT: SELLING ENOUGH AUTOS TO SUPPORT RESTRUCTURING; RETAIL SALES FALL HAS 'STABILIZED'

[14:18] {Onix} these guys never get tired of taking their millions home everymonth and tell such lies on tv hey?

[14:18] {magoo} bumped out

[14:19] {Threei}  that was not an accident magoo

[14:19] {Threei}  that was me practicing kicking you out next week each day until you watch that movie {G}

[14:20] {magoo} emailed wife to go rent it

[14:20] {magoo} problem is she emailed back she leaving me

[14:20] {Threei}  {--- always knew persistence and threat of violence works

[14:20] {Threei}  wow... double benefit??

[14:21] {Threei}  watching good movie AND getting single on the same day?

[14:22] {Threei}  COMPANY HAS REPORTEDLY BEEN NOTIFIED THAT INSOLVENCY FOR OPEL UNIT IS THE BETTER CHOICE - LONDON TELEGRAPH

[14:22] {Threei}  - Notes that Germany Interior Min has told GM execs that they should declare Opel insolvent rather than seeking aid from EU Govts

[14:22] {nemo} finally!  somebody actually has to file for bankruptcy!

[14:23] {Threei}  sounds to me like merely desire by EU to pick Opel up on the cheap

[14:24] {nemo} or somebody...if they financed it they could have made demands anyway 

[14:24] {Threei}  yeah but that would be negotiation

[14:25] {Threei}  in case of filing insolvency they have stronger hand

[14:26] {Threei}  I think magoo fainted of happiness

[14:29] {nemo} why, because he's single?

[14:30] {Threei}  I think he goes over his little black book as we speak

[14:30] {nemo} Yeah, but with hooves, how are the sheep gonna' pick up the phone?

[14:30] {Threei}  pace [icks up

[14:30] {Threei}  looks like no flush

[14:31] {dino} darn was waiting at .50 for wmt

[14:31] {Threei}  let's try to play bounce after this pullback

[14:32] {Threei}  RIMM

[14:32] {Threei}  pullback into .90

[14:32] {Threei}  if market spikes, 36.05 entry

[14:33] {Threei}  first strength from here

[14:33] {dptl} in.96

[14:34] {Threei}  nearest support for stop placement is .80

[14:34] {dino} uh oh, careful for what you wish, wmt filled

[14:35] {dino} i think that was a gap fill from wed close

[14:36] {Threei}  enough of a p;ullback, market

[14:36] {Threei}  jump now

[14:36] {Threei}  good boy

[14:37] {Threei}  SILICON ALLEY INSIDER SPECULATES APPLE TO ANNOUNCE NEW IPHONE MODEL AT DEVELOPERS CONFERENCE IN MAY OR JUNE

[14:38] {Threei}  PREVIEW: JAN CONSUMER CREDIT DUE OUT AT 3PMET

[14:38] {Threei}  **consensus expectation: -$5.0Be v -$6.6B prior

[14:38] {Threei}  grrr... more numbers

[14:43] {Threei}  sigh

[14:43] {Onix} stopped

[14:44] {dptl} stopped.....got to stop trying..today...

[14:44] {Threei}  yeah, day is beyond weird

[14:44] {Threei}  as soon as little direction emerges, reversal comes

[14:44] {nemo} like being with family

[14:46] {Onix} :D

[14:47] {nemo} micro-scalping day

[14:49] {dino} well, looks like another -8% week

[14:49] {Threei}  no kidding

[14:50] {Threei}  and it's not over by any means eh?

[14:51] {nemo} or...being Friday...maybe it is, should be at least one more run in somewhere

[14:52] {Threei}  no, I mean

[14:52] {nemo} I get it...slow

[14:52] {Threei}  being down 8% for the week, again,

[14:52] {Threei}  ine woluld hope the end of selling was in sight

[14:52] {nemo} Ground Hog Day next week

[14:52] {Threei}  yet it's obviously not so

[14:53] {nemo} I don't think it stops till washington shows something they're doing will make some progress

[14:54] {Threei}  one could argue, this continues precisely because they are making progress

[14:54] {Threei}  it's the direction market disagrees with

[14:54] {nemo} understand, but...Rimmm at support

[14:54] {nemo} ahhh...I was thinking of constructive progress

[14:55] {Threei}  JIM CRAMER: WORST CASE IN DOW JONES INDUSTRIAL AVG IS 5320

[14:55] {Threei}  yeah?

[14:55] {Threei}  not 5318?

[14:56] {nemo} Louise Yamada says 4000

[14:56] {Threei}  what an unbeliavable precision

[14:57] {Threei}  I have no idea who that is but I bet shoe is wring too

[14:57] {Threei}  she is wrong

[14:57] {nemo} Market technician

[14:58] {nemo} she says it's worst case

[14:58] {Threei}  there are quadrillion of them

[14:58] {Threei}  each with his own target

[14:58] {nemo} or her own target

[14:58] {Threei}  so and so says 3800

[14:58] {Threei}  while so and so says 4200

[14:58] {Threei}  one of them will be right

[14:59] {nemo} crissakes I was just makin' conversation after your Cramer comment

[14:59] {Threei}  what do you think I am doing?

[14:59] {nemo} :)

[14:59] {nemo} picking on me

[14:59] {Threei}  sure

[14:59] {Threei}  so?

[14:59] {Threei}  I am picking on everyone

[14:59] {nemo} what am I going to do?

[14:59] {Threei}  it's just your turn

[15:00] {Threei}  magoo got overabused today

[15:00] {Threei}  *JAN CONSUMER CREDIT: -$1.8B V -$5.0BE

[15:00] {nemo} xcuse me...friday afternoon...bottle beckons...yeah, but Magoo had a great day, he's now single

[15:01] {Threei}  - prior revised from -$6.6B to -$7.5B

[15:09] {dino} .

[15:09] {Threei}  so... looks like flush in cards?

[15:13] {Threei}  market waited for this question to bounce

[15:13] {nemo} we might just get them sneaking out the exits for the weekend

[15:13] {Threei}  question is who?

[15:13] {Threei}  longs or shortts?

[15:13] {nemo} everybody

[15:14] {Threei}  then we stay in place

[15:14] {nemo} Yeah, I don't think it goes much further, what was the range todya?

[15:16] {Threei}  wow

[15:16] {nemo} yep

[15:16] {nemo} scalps?

[15:17] {Threei}  on what and in which direction?

[15:18] {Threei}  this is not something I can read

[15:18] {nemo} no...sorry....it's like you get these little pops on the charts out of the blue for scalps.  Seeing technical setups, but don't really trust them.  It's like skirmishes

[15:19] {nemo} Somebody (a stock) pops it's head up, and a sniper nails them

[15:19] {Threei}  I don't see any setups... I see sudden jumps up and down

[15:20] {nemo} I still use those training wheel indicators.  They show positive, but I don't trust them today.

[15:21] {dino} i see dead people

[15:21] {fernp} clocks will be moved ahead one hour this sunday, no?

[15:21] {nemo} I knew that was coming

[15:21] {Threei}  yes fern

[15:22] {nemo} dino want a dinobone

[15:22] {dino} indeed

[15:22] {dino} hungry

[15:22] {nemo} and Magoo's probably thirsty

[15:22] {dino} this slow drip is relentless

[15:22] {nemo} Chinese water torture

[15:23] {nemo} to me CAT is showing bounce setup now, but I don't trust it today

[15:23] {Onix} any news on MS?

[15:23] {fernp} Microsoft has sent me this email

[15:23] {Threei}  no

[15:23] {Onix} ty

[15:24] {fernp} In August 2005, the United States Congress passed the Energy Policy Act which changes the start and end dates of Daylight Saving Time (DST) in the U.S. Beginning in 2007, DST will begin three weeks earlier (2:00 a.m. on the second Sunday in March) and will last an extra week (ending at 2:00 a.m. on the first Sunday in November).

[15:24] {fernp} Microsoft Recommended Actions

[15:24] {fernp} Microsoft recommends that pc users install the appropriate Microsoft update patches for DST 2009 on server and client machines.  For more information on Microsoft patches please see http://support.microsoft.com/gp/cp_dst.

[15:24] {fernp} dont know if is usefull for you

[15:24] {dino} feels like whoosh lower coming, but costanzza would say go long

[15:24] {Threei}  USB breakdown...

[15:25] {magoo} u short it

[15:25] {Threei}  I wish

[15:25] {Threei}  any attemot to short it was met with immediate snapback

[15:25] {Threei}  this is what made today so difficult, no continuation on setups

[15:26] {nemo} bohica...oh, did you get that email Vad?

[15:26] {Threei}  yeah

[15:26] {nemo} poetic for the markets, huh?

[15:27] {Threei}  S&P 667

[15:27] {Threei}  touched 666 and bounced a little

[15:27] {nemo} number of the beast

[15:28] {Threei}  666 even

[15:28] {Threei}  bounced again, lol

[15:29] {dino} s/p # of the beast

[15:29] {nemo} dino   {nemo} number of the beast

[15:29] {Threei}  good morning dino

[15:29] {dino} ahh, sorry bro

[15:29] {Threei}  :)

[15:29] {dino} of course i may be the antichrist

[15:30] {Threei}  can't be

[15:30] {nemo} bet he throws a great orgy

[15:30] {Threei}  dynosauruses existed before that

[15:30] {dino} lol

[15:31] {Threei}  only better spelled

[15:31] {Threei}  beast resisted so far

[15:34] {Threei}  I'll be darned if I can read this mess

[15:34] {Threei}  wtf?

[15:35] {dino} i hate to say it vad, but i'm glad because i can't read it either

[15:35] {dptl} oh well......have a good weekend all

[15:35] {Threei}  have a good one dp

[15:35] {nemo} same thing with USB..any other day indicators would have said 8.10 a bottom and go long over 8.20...not me baby!

[15:35] {nemo} well 8.06 but the bars basically bottom around 8.10

[15:36] {Threei}  that's bs...

[15:36] {dino} cya dp

[15:36] {Threei}  look what market did

[15:36] {Threei}  USB simply followed

[15:36] {Threei}  if selling ressure continued, USB would lose 8 with not as much as whimper

[15:37] {nemo} I'm just looking at the USB chart, that's it, and I never said i knew what I was doing

[15:39] {Threei}  wtch SPY and USB togerther

[15:39] {nemo} doing that right now

[15:40] {Threei}  see what I mean?

[15:40] {nemo} absolutely

[15:42] {dino} well if nothing else, still hitting these 300 range days. altho % wise, they hurt more

[15:42] {Threei}  this looks like shorts are more eager to get out before the weekend

[15:42] {nemo} You have to wonder if with the market down so much whether shorts are going to be less likely to press their bets over the weekend

[15:43] {Threei}  who knows... hard to imagine longs being too hungry for holding either...

[15:44] {dino} we are at the 25 year ma

[15:44] {nemo} Yeah, but if shorts want to get out they have to pay a price to get out

[15:44] {Threei}  also, in terms on the range, this bounce so far is merely 1/4 of the day's range

[15:44] {Threei}  hmm?

[15:44] {Threei}  this logic escapes me

[15:45] {Threei}  it's a liquidation of position... in either casde, long or short

[15:45] {nemo} yes, but shorts have to buy (I need to remember that after my faux pas today) right?

[15:46] {Threei}  yes...

[15:46] {nemo} or is it paux

[15:46] {Threei}  and longs have to sell

[15:46] {Threei}  what's the diff?

[15:46] {dino} just a different button

[15:46] {dino} just as easy

[15:46] {Onix} perfect short sqeeze

[15:46] {Threei}  yes onix

[15:46] {Threei}  unfortunately in hindsight only

[15:47] {Onix} too true

[15:47] {Threei}  at the moment, it was just as likely to get total breakdown

[15:47] {dino} reminds me of my bro-in-law, a buy and hoper. tells me it is too hard to short, he can't figure it out. i say just click the short button

[15:47] {nemo} So don't short's get squeezed a bit.  I understand what you're saying Vad, it's just why not protect all the money they're making on the short side because we've got to be getting closer to the end of the gravy train...and I'm not calling a bottom

[15:48] {Threei}  again, the argument goes for both, longs and shorts, right? :)

[15:48] {dino} nemo, in this market, the shorts are making most of the money, not too many squeezes when we go down 15 of 17 days

[15:48] {nemo} I understand...always have to be two sides to the transaction

[15:48] {Onix} yes, it is quite unbelievable how "they" dot

[15:49] {Onix} dot = do it

[15:49] {Threei}  look at this drop just now

[15:49] {nemo} I understand Dino, I'm just saying maybe they're thinking one in hand better than two in bush, gtfo for the weekend

[15:49] {Threei}  what, shorts suddenly decided not to cover anymore?

[15:49] {dino} or they are daytraders and simply covering

[15:49] {Threei}  it's all about who is scared more at this point

[15:50] {nemo} yeah, who has the tighter sphincter

[15:50] {dino} alot can happen over a weekend, i imagine longs and shorts are getting out

[15:50] {Threei}  longs are scared beyond imagination,

[15:50] {Threei}  and who coluld blame them

[15:50] {Threei}  shorts are still bold

[15:50] {Threei}  but heck,

[15:50] {nemo} I'm not long or shoort and I'm scared

[15:50] {Threei}  it's weekend,

[15:50] {nemo} Isn't that what I said, it's the weekend...

[15:51] {Threei}  administration just can't be compalcent with the situation

[15:51] {nemo} bird in hand

[15:51] {Threei}  so they try to pare down

[15:51] {nemo} been workin' on that novel

[15:51] {dino} there was an old saying years ago; in bull markets we go down on fridays in bears we go up on fridays. simply closing out of positions

[15:51] {Threei}  but how do you figure the balance?

[15:52] {Threei}  you don't think longs have less fear right now?

[15:52] {nemo} Is this one of those angels dancing on the head of a pin questions?

[15:53] {Threei}  ok guys, tough day admittedly

[15:53] {dino} the only thing we have going for longs is cramer now says we go lower 5400ish, where monday he said bottom was in

[15:54] {Threei}  lol

[15:54] {Threei}  DJI went green

[15:55] {nemo} Shorts covering

[15:55] {nemo} hehehehehe

[15:56] {dino} has to close neg. only allowed 1/week

[15:56] {Threei}  4 min left

[15:56] {Threei}  but all other markets are red

[15:56] {nemo} what did Larisa say would happen today

[15:57] {Onix} thanks Vad, have a great weekend

[15:57] {Threei}  you think she left forecast for each day ogf her vacations?

[15:57] {dino} that she'd have a tequilla shot

[15:57] {nemo} of course not...

[15:57] {Threei}  have a good one Onixc, we will get them on Monday

[15:58] {Onix} for sure! :D

[15:58] {Threei}  thank you all, have a great weekend

[15:58] {dino} later onix

[15:58] {Threei}  see you on Monday

[15:58] {nemo} P&Q

[15:58] {dino} out wmt .90, +.40

[15:58] {vint} Thanks Vad, good weekend all

[15:58] {fernp} have a good weekend all

[15:58] {dino} out mcd .10, +.40