Mar 10 2009

Nice start for the day with a few winning trades on BAC, MS, CAT, PALM, WFC . The second half was lukewarm as market couldn't make up it's mind between pullback and rally continuation.                                                                                                                    

Session Time: Tue Mar 10 00:00:00 2009

[08:39] {Threei}  Good mornng

[08:39] {nemo} :)

[08:39] {dptl} good morning

[08:39] {Threei}  nemo, dp :)

[08:40] {Threei}  ok... am I the only gambler who took BAC overnight?

[08:40] {Threei}  15:59] {Threei} gambling types can take BAC home

[08:40] {Threei}  [15:59] {Threei} thank you all, have a good evening

[08:40] {Threei}  if so, then I am the only ne starting the day with +400

[08:45] {magoo} morning

[08:45] {Threei}  03/10/09 00:22am

[08:45] {Threei}  (US) FDIC's Bair: The US govt's plan to remove troubled assets from banks could force some firms to record large losses - Washington Post

[08:45] {Threei}  - Insists the plan would help restore confidence in the banking system.

[08:45] {Threei}  - Cost may exceed the $700B Congress approved to bailout the US financial system.

[08:45] {Threei}  - Government plans to invite private investors to buy troubled assets, in part by providing financing at a low cost.

[08:45] {Threei}  - The extent of the federal subsidy was still under discussion.

[08:45] {Threei}  - The administration hopes to find the right balance and announce the details within the next two weeks, according to people familiar with the matter.

[08:45] {Threei}  - The original plan to buy troubled assets faltered in part because of concerns about the cost.

[08:45] {Threei}  magoo :)

[08:46] {Threei}  mags..

[08:46] {Threei}  [08:40] {Threei} ok... am I the only gambler who took BAC overnight?

[08:46] {magoo} u had the read wfc vad..11 it is

[08:46] {Threei}  yeah but on BAC I even monetized the read

[08:47] {Threei}  USB's nice too

[08:49] {magoo} skf down 26...faz down 15

[08:49] {magoo} could today be a rea;l REAL up day?

[08:49] {magoo} u got any call for me this premkt here?

[08:50] {Threei}  no

[08:59] {pita} gm all

[08:59] {Threei}  pita :)

[09:00] {Threei}  REPORTELDY SEC WILL NOT SUSPEND MARK-TO-MARKET ACCOUNTING - UNCONFIRMED SOURCE

[09:02] {cosmo} i thought the original plan to buy troubled assets faltered in part because of  the retention incentive imperative.

[09:02] {Onix} gm all

[09:02] {cosmo} do not call them bonuses

[09:02] {Threei}  cosmo, onix :)

[09:02] {cosmo} 3i:)

[09:03] {Threei}  FED'S BERNANKE: BEGINNING TO STRENGTHEN STYSTEMICALLY IMPORTANT FIRMS - Q&A

[09:03] {nemo} well, looks like a lot of hope in the financials was the M2M suspension

[09:04] {Threei}  WFC is still going up

[09:04] {Threei}  BAC returned to the high

[09:04] {nemo} BAC too, how's C

[09:04] {Threei}  FAS is dropping

[09:04] {Threei}  well, with C's range can't even tell, lol

[09:04] {nemo} magnifying glass?

[09:05] {Threei}  yeah

[09:06] {ese} morning

[09:07] {Threei}  ese :)

[09:07] {dawg} gm all

[09:07] {ese} dawg

[09:07] {dawg} ese gm

[09:08] {Threei}  dawg :)

[09:09] {ese} theory question Vad.....are these basically the most difficult times you can go through as a trader.......and if we can make it trough this does it bode well for us?

[09:09] {ese} hard question I know

[09:09] {cosmo} AVAV gets a big air pocket

[09:10] {Threei}  second part of the question is definitely yes

[09:10] {Threei}  first, ummm

[09:10] {Threei}  it's hard to answer

[09:10] {geo} good morning

[09:10] {Threei}  geo :)

[09:10] {ese} geo

[09:10] {Threei}  first, when the market becomes difficult, it feel the most difficult ever, wvery time

[09:11] {ese} you've seen a ton of ups and downs...

[09:11] {Threei}  and second, ones experience and skill changes, so there is no fair comparison

[09:11] {cosmo} ese....i think its worse for investors

[09:11] {Threei}  on the logic level I think I have to perceive this environemnt as the most dificult

[09:11] {ese} i would agree cos

[09:12] {Threei}  but by my performance, no way

[09:12] {ese} it's impressive...thats for sure vad.

[09:12] {cosmo} it is very difficult to watch TV

[09:13] {ese} gloom and doom all the time

[09:13] {cosmo} fear

[09:13] {magoo} ben talking on m2m here

[09:14] {cosmo} ben stein?

[09:17] {Threei}  FED'S BERNANKE: BELIEVES WE ARE TAKING THE "BEST AND MOST EFFECTIVE" MEASURES TO HELP THE ECONOMY - Q&A

[09:17] {Threei}  - Fed is beginning to strengthen systemically important firms, Fed will be seeking legislation to help it regulate financial firms

[09:17] {Threei}  - Monetary policy has to be supportive during a crisis.

[09:17] {Threei}  - The downturn has surprised the Fed with its severity.

[09:17] {Threei}  - Other central banks are "following our lead" in cutting rates

[09:17] {Threei}  IF ALL GOES RIGHT, THE RECESSION COULD END IN LATE 2009; STRONGLY ENDORSES THE "PRINCIPLE" OF MARK-TO-MARKET ACCOUNTING BUT BELIEVES CURRENT CONDITIONS MAY DISTORT MARKING TO MARKET - Q&A

[09:17] {Threei}  - Believes mark-to-market accounting numbers can be misleading, must identify the weak points of mark to market.

[09:18] {ese} what is mark to market accounting?

[09:19] {cosmo} the People need to re-fi ....not eat cake

[09:22] {nemo} ese, for illiquid assets, it's a way to assign valuation to them by valuing them according to the most recent transaction.  Unfortunately, if the worst house in the neighborhood is sold, and there are no other transactions, that's the price assigned.  So, it's potentially very inaccurate, but it affects the asset values on bank's books, or in those CDOs

[09:23] {ese} got it.......

[09:23] {dino} m2m does not work well on illiquid assets

[09:23] {nemo} Yeah, kinda' my point

[09:24] {dino} :)

[09:25] {vint} good morning all

[09:26] {nemo} So, Dino...turnaround Tuesday?

[09:27] {Threei}  vint :)

[09:28] {Threei}  idally, we would have a small pullback or consolidation, the decisaive break

[09:28] {Threei}  ideally

[09:28] {Threei}  BAC, WFC

[09:28] {Threei}  STT

[09:30] {Threei}  here is pullback

[09:30] {Threei}  let's see how things are holding

[09:31] {cosmo} DRYS tests high

[09:31] {cosmo} 4.45' ish

[09:32] {ese} avav getting killed...

[09:32] {ese} cmtl also

[09:33] {Threei} Long Setup:  WFC  11.30 if holding above .15

[09:34] {nemo} wild this morning

[09:34] {Threei}  bounce of 11 is an idea now

[09:34] {Threei}  .11 long

[09:34] {Threei}  stop under 11

[09:35] {Threei}  invalidated too

[09:35] {geo} wynn strong

[09:35] {nemo} too much overnight gap maybe to keep climbing

[09:36] {fernp} Hi everybody

[09:36] {Threei}  fern :)

[09:36] {dino} feeling same nemo

[09:37] {nemo} I learned it from you...your the gapmaster :)

[09:37] {ese} bstop AVAV 19.36 small

[09:37] {dino} lol

[09:37] {Threei}  .81

[09:37] {Threei}  stop under .70

[09:37] {Threei}  1:1

[09:38] {Threei}  1:2, out

[09:39] {ese} L avav

[09:39] {ese} like that fill L .31

[09:39] {ese} out avav

[09:40] {ese} .85

[09:40] {pita} WFC ty

[09:40] {ese} +.54

[09:40] {Threei}  pita :)

[09:40] {geo} wynn break .5?

[09:40] {Threei} Long Setup:  PALM  .61 if holding above .45

[09:41] {ese} i'm likin dinos way of life.....

[09:42] {dino} ouch cmtl

[09:42] {dino} 10:00-10:10 has been pullback time lately

[09:42] {ese} dn 14 smackers now....whoaa

[09:42] {Threei}  MOODY'S: ''EMERGING'' EUROPEAN SOVEREIGNS NEEDS TO BE DIFFERENTIATED

[09:42] {Threei}  - 'Emerging'' European countries should not all be treated as if their

[09:42] {Threei}  creditworthiness were subject to uniform pressure and that concerns about

[09:42] {Threei}  the solidity of the ''Eurozone'' are greatly exaggerated.

[09:43] {geo} in 17.5 out 17.87 WYNN

[09:43] {Threei}  wtg

[09:43] {dino} gj

[09:43] {Threei}  sorry, I couldn't get to it in time

[09:44] {geo} entered on break after pullback

[09:44] {geo} seems has more juice

[09:44] {dino} tbt swing out +1.20 at 47

[09:44] {geo} nice dino

[09:44] {Threei} Long Setup:  BAC  .45

[09:44] {Threei}  if holding above .35

[09:44] {dino} ty

[09:44] {geo} wow .45 thick

[09:45] {Threei}  lol, see any thin level on it?

[09:45] {dino} cmtl seems a bit excessive

[09:45] {nemo} in

[09:46] {dino} qid  short term support around 65.30

[09:47] {ese} i'll say dino..... reports .46 v .44   whats tht a about

[09:47] {Threei}  let's trail to it under .40

[09:47] {ese} revs 143 v 151 expected

[09:47] {Threei}  pullbacks can be severe on it, don't want to get caught

[09:47] {nemo} what, BAC?

[09:47] {dino} simple minds thinking alike

[09:47] {Threei}  yes

[09:48] {geo} yeah.... struggling a little

[09:49] {geo} SEC won't seek to suspend mark-to-market, according to source - Reuters

[09:49] {geo} Reuters reports that the SEC is not planning to suspend the controversial mark-to-market accounting rule that has forced banks to report billions of dollars in asset write-downs, a source familiar with the matter told Reuters on Tuesday. Rumors have circulated that the U.S. government was planning a temporary suspension of the accounting rule, which requires financial firms to value assets at current market prices. A Congressional panel i

[09:49] {Threei}  came out at 9

[09:49] {geo} really

[09:49] {geo} :( sorry

[09:50] {dino} saw it on real$ too in cc

[09:50] {Threei}  [09:00] {Threei} REPORTELDY SEC WILL NOT SUSPEND MARK-TO-MARKET ACCOUNTING - UNCONFIRMED SOURCE

[09:50] {dino} so far no effect. would seem to me if not suspended at some point these assets are going to bring somebody a fortune

06[09:50] * geo news service sucks

[09:51] {geo}  ndaq

[09:51] {geo} wow havent seen tol strong in a while

[09:56] {magoo} we in anything besides BAC vad?

[09:56] {Threei}  pres on TV btw

[09:56] {Threei}  no

[09:56] {Threei}  1 cent shy of 1:1?

[09:57] {Threei}  come on

[09:58] {magoo} STT pullbk vad

[09:59] {magoo} MS break of .30 vad?

[09:59] {Threei}  if stays above .15

[09:59] {dino} [09:46] {dino} qid  short term support around 65.30

[09:59] {dino} hit and bounced

[10:00] {dino} es. cmtl?

[10:00] {dino} you in it

[10:00] {Threei}  JAN WHOLESALE SALES: -0.7% V -1.0%E

[10:00] {Threei}  MARCH IBD/TIPP ECONOMIC OPTIMISM: 45.3 V 43.0E

[10:01] {Threei}  MS 1:1

[10:02] {Threei}  1:2

[10:02] {Threei}  F

[10:02] {Threei}  STATES THAT 100K HYBIRD SUV HAS BEEN BUILT, SEEKS TO DOUBLE HYBRID CONSTRUCTION IN 2009

[10:02] {dino} all is well in world again

[10:03] {geo} see? i should wring my hands more often

[10:03] {Threei}  lol

[10:03] {geo} GS break of 82 who dares?

[10:03] {dino} ty geo

[10:03] {geo} broke

[10:04] {dino} gold and platinum beat down

[10:04] {geo} yeah dino... i feel the gold :( 

[10:05] {geo} green scanners going crazy

[10:06] {dino} 10:10 approaches

[10:07] {Threei}  BAC 1:1, half out or scalp, your choice

[10:07] {dino} platinum tradiong lower than gold, abnormal

[10:07] {dino} blaming it on low auuto production

[10:07] {fernp} out here ty Vad

[10:08] {dino} auto

[10:08] {Threei}  fern :)

[10:08] {nemo} me2

[10:08] {geo} out GS .6

[10:09] {dino} out cedc swing +.70

[10:09] {Threei}  if you are holding half, stop to .33

[10:09] {Threei}  sorry to .44

[10:10] {dino} wmt says "fo" to downgrade

[10:12] {nemo} Dino, is that a capital FO!?

[10:12] {geo} i think he eant vietnamese broth

[10:12] {geo} meant

[10:13] {nemo} funnny

[10:13] {geo} probably get 1/3 their stuff from there anyway

[10:13] {nemo} on a roll geo

[10:13] {geo} in PBR and bored

[10:14] {dino} yes nemo

[10:16] {dino} clickig in to 4.6% gains on s/p ndx. hmmmmmmmm

[10:16] {dino} discipline says hedge it

[10:17] {Threei}  SPOT AND APRIL GOLD DIP BELOW $900 FOR FIRST TIME IN NEARLY A MONTH

[10:17] {Threei}  GE non-stop

[10:18] {dino} dip on god cause cramer last week said buy it

[10:18] {Threei}  ah

[10:18] {Threei}  that'll do it

[10:18] {dino} swear theres a group countering his calls

[10:18] {Threei}  how can you not

[10:18] {Threei}  guy is a godsend

[10:18] {Threei}  such consistency

[10:19] {geo} http://masteroftheuniverse.wordpress.com/2008/11/14/cramer/

[10:19] {geo} "Ive seen mechanical systems that fade his picks and make a good return."

[10:20] {dino} roflol

[10:21] {geo} and this guy is  matisse/picasso/rembrandt owning level trader...... lol

[10:22] {geo} i feel like a kid in a candy store today..... so many stocks.... dont know which to play :)

[10:22] {Threei}  IMF'S STRAUSS KAHN: NATIONALIZATION IS A 'GOOD IDEA' FOR CERTAIN US BANKS

[10:23] {Threei}  imbecil

[10:23] {Threei}  BAC baby

[10:23] {Threei}  over 1:2

[10:23] {dino} i say pull their funding

[10:23] {Threei}  IMF?

[10:24] {Threei}  don't forget UN while you are at it

[10:24] {Threei}  GE is about to stage nice pullback

[10:24] {Threei}  sharp drop into 8.20, I would be interested

[10:26] {geo} CNI .5 vad?

[10:27] {Threei}  why not

[10:27] {Threei}  chart is right

[10:27] {geo} in

[10:27] {fernp} CAT pullback Vad?

[10:28] {Threei}  I'd prefer CAT lower...

[10:28] {fernp} ty

[10:29] {Threei}  let it slide

[10:29] {Threei}  not ready yet

[10:29] {Threei}  not shovel-ready

[10:30] {dino} qld not avail cyber fwiw

[10:30] {geo} MMM jbe

[10:31] {Threei}  CART selling accelerates

[10:31] {Threei}  CAT

[10:31] {fernp} I see

[10:31] {fernp} 25.50 next support?

[10:32] {dino} have to use qid, things' like pulp tho

[10:32] {Threei}  a bit too far... I doubt it will get there

[10:32] {geo} QID not available in laser too

[10:32] {Threei}  .80 held as a support so far

[10:32] {dino} long qid=2x short

[10:33] {cujo} morning, wow...  250 pts. 

[10:33] {Threei}  lost it

[10:33] {Threei}  cujo :)

[10:33] {dino} esi swing stop to 8.40

[10:33] {geo} we always have faz and skf dino :)

[10:34] {Threei}  US INTELLIGENCE REPORT: IRAN HAS NOT YET MADE DECISIONS ON CONSTRUCTION OF HIGHLY ENRICHED URANIUM

[10:34] {geo} have me made decisions to bomb em yet?

[10:34] {geo} we

[10:34] {dino} indeed geo and paris too

[10:34] {geo} :)

[10:34] {nemo} Do the whole middle east, Halliburton, and FWLT stock will go through the roof

[10:35] {Threei}  can try pullback to .80 for double bottom with .70 stop on CAT

[10:36] {nemo} GE got that sinking look

[10:36] {Threei}  yes

[10:36] {Threei}  waiting for it to drop

[10:36] {Threei}  ity's shortable btw

[10:36] {geo} hehe in from .5 TY nemo/vad

[10:37] {Threei}  lol geo

[10:37] {Threei}  stop above .60?

[10:37] {geo} y

[10:37] {Threei}  anyone got CAT?

[10:37] {Threei}  pulled back right into .80

[10:37] {fernp} in .83

[10:38] {Threei}  good reflexes

[10:38] {dino} out esi swing 109.40, +5.00

[10:38] {Threei}  eeck

[10:38] {Threei}  that's indecent dino

06[10:38] * geo thinks dino funded paris

[10:38] {dino} lucky, that was a volitile swing for 3 days

[10:39] {dino} need coffee

[10:39] {cujo} in cat .84

[10:40] {geo} GE not following PSY much

[10:40] {geo} SPY

[10:40] {Threei}  1:1 CAT

[10:40] {geo} heh

[10:40] {Threei}  1:2

[10:40] {fernp} now out 26.06

[10:40] {fernp} ty Vad

[10:40] {Threei}  good job

[10:42] {cujo} out 1/2 CAT .15

[10:43] {Threei}  pattern-based bottom fishing is very different from arbitrary knife catching eh?

[10:43] {fernp} true

[10:43] {cujo} yeah, much less sweating involved...

[10:43] {Threei}  and less pain, lol

[10:44] {Threei}  OK... so far so good

[10:44] {Threei}  no single stop

[10:44] {geo} there.... jinx

[10:44] {Threei}  and just one superstitios room member

[10:45] {geo} not true !!

[10:45] {nemo} who is it that talks about the trading gods?

06[10:45] * geo rubs rabit foot furiously

[10:45] {Threei}  lol

[10:45] {Threei}  good one

[10:45] {dino} v sm qid l .30

[10:45] {dino} wide/small

06[10:46] * nemo prepares the chicken for sacrifice

[10:46] {Threei}  anyone still has any part of BAC?

06[10:46] * geo prepares rabbit and chicken stew

[10:47] {dino} ouch genz

[10:47] {dino} air pocket

[10:47] {geo} wow news?

[10:47] {Threei}  REPORTEDLY FDA INVESTIGATORS FIND OBJECTIONABLE CONDITIONS AT PLANT

[10:47] {Threei}  yes

[10:47] {dino} genz vad?

[10:47] {Threei}  yes

[10:47] {Threei}  REPORTEDLY FDA INVESTIGATORS FIND OBJECTIONABLE CONDITIONS AT PLANT

[10:48] {dino} watch sds if s/p starts to drop imo

[10:48] {dino} ty

[10:48] {dino} cyber not showing yet

[10:48] {cujo} out last CAT .24

06[10:48] * Threei slaps cujo around a bit with a large roll of cash

[10:48] {cujo} :)

[10:49] {cujo} Thanks Vad

[10:49] {Threei}  welcome

[10:49] {dino} gj

[10:49] {fernp} gj

[10:49] {cujo} thanks all.  Glad i woke up today. 

[10:49] {Threei}  lol

[10:52] {dino} group hug for cujo, lol

06[10:53] * magoo slaps cujo around a bit with a large trout

[10:53] {nemo} stopped ge

[10:53] {cujo} i'm getting emotional...

06[10:54] * dino slaps cujo around a bit with a large trout

[10:54] {geo} reversed at .58

[10:55] {geo} made higer lows

06[10:55] * cujo has a strange craving for fish...

06[10:55] * geo slaps cujo around a bit with a large trout

[10:55] {geo} this one?

[10:57] {Threei}  WFC

[10:57] {Threei}  wsatching for dive into .90 for long entry

[10:57] {cujo} GS ss .68

[10:58] {cujo} out .51

[10:58] {dino} hitting 5% up

[11:04] {Threei}  DAL

[11:04] {Threei}  EXPECTING PROFIT IN Q2 V $0.67E, AFTER EXPECTED LOSS IN Q1 V -$0.98E - PRESENTATION

[11:04] {dino} sds gap fill from wed close

[11:05] {dino} genz continues down

[11:06] {Threei}  PALM 1:1

[11:13] {Threei}  GENZ

[11:13] {Threei}  HEARING DEFENDED AT DEUTSCHE BANK

[11:14] {Threei}  i2r!

[11:14] {Threei}  long time no see

[11:15] {i2romantis} i know :)

[11:15] {i2romantis} nice to be back

[11:15] {Threei}  you got frozen over there or what, lol

[11:15] {i2romantis} but not available much lately

[11:15] {i2romantis} something like that :)

[11:15] {i2romantis} I see reasonable rebounds

[11:15] {Threei}  look dcc please

[11:15] {i2romantis} and crazy drops over the past month

[11:22] {dino} welcome back rfr

[11:23] {Threei}  INSM

[11:23] {Threei}  FDA TO ALLOW PATIENTS WITH AMYOTROPHIC LATERAL SCLEROSIS (ALS) TO HAVE ACCESS TO IPLEX

[11:23] {Threei}  - Iplex is approved by the FDA only for the treatment of growth failure in children with severe primary IGF-1 deficiency (Primary IGFD) or with growth hormone (GH) gene deletion who have developed neutralizing antibodies to GH. The drug is currently not marketed because of a court order related to patent infringement

[11:23] {nemo} Interesting, market didn't pull back...consolidating, or....

[11:24] {dino} imo, give it time

[11:25] {nemo} I'm voyeuring as we speak...it's just breaking it's recent pattern

[11:27] {pita} ok, back from plowing/shoveling for last hour - anything on watch list?

[11:27] {geo} me loving ADM

[11:28] {Threei}  not really pita, market narrowed down very much

[11:28] {geo}  slb

[11:28] {pita} k

[11:28] {nemo} geo! were you going to tell anybody...

[11:28] {geo} oops sorry

[11:28] {geo} oh break of 28 nemo.... (dont have confidence for calls)

[11:29] {nemo} hehehehehehehe

[11:29] {dino} hod

[11:30] {geo} reminds me of your comment yesterday vad

[11:30] {Threei}  which one?

[11:31] {dino} lphi sm l .60

[11:31] {nemo} yeah, kinda' general there geo

[11:31] {dino} thinny

[11:31] {geo} [15:04] {Threei}  if you are not watching it, you WILL miss the moment when market changes

[11:31] {geo} was looking

[11:31] {Threei}  ahhh

[11:31] {dino} careful guys one day does not a bull make

[11:31] {dino} trend is still down

[11:31] {geo} not saying market changed

[11:31] {geo} but would have missed this day

[11:32] {dino} we are still under thursday levels

[11:32] {nemo} there are bull moments and bear moments in every day, I just usually get them backwards

[11:32] {geo} ADM again

[11:32] {dino} hate to see these open gaps way below

[11:33] {nemo} yeah...very scary...I hate heights

[11:34] {nemo} So, way oversold on financials, a rumor about M2M and Vikrim Pandit's word that all goes swimmingly at Citi...not a strong case for a bull run

[11:34] {Threei}  what m2m?

[11:35] {magoo} in anything here vad?

[11:35] {Threei}  wasn't it denied today?

[11:35] {geo} ah come on vad

[11:35] {geo} dont kill it

[11:35] {Threei}  no mags

[11:35] {nemo} Yes...but we want to believe

[11:35] {nemo} not really...quoting the guy from Braveheart

[11:35] {magoo} news leak saying m2m ditching wont happen

[11:35] {dino} bernie wants to "tweak" it he said

[11:38] {dino} forgot one, sm l cmtl .01

[11:43] {nemo} I guess this is your pullback

[11:44] {dino} stop is .63 fwiw

[11:46] {dino} stopped

[11:47] {dino} i'll lay out buck lower

[11:48] {Threei}  main question for the day now is,

[11:48] {Threei}  will this consolidation resolve in another upward thrust or we fizzle out

[11:49] {magoo} taking bets??

[11:49] {magoo} i say UP

[11:49] {magoo} best day for mkts in 3 months

[11:50] {Threei}  my feel is up too

[11:50] {magoo} if fizzles...i gonna slice cujos wrists with a banana

[11:50] {dino} as snoop dog would say, snizzle fizzle

[11:50] {Threei}  PLD interesting

[11:51] {Threei}  big blocks are being bought on INSM

[11:51] {Threei}  not exactly my kind of stock

[11:51] {Threei}  but if chews through 1.05, maybe has a chance

[11:51] {dino} ice goes negative

[11:52] {nemo} PLD?

[11:52] {nemo} I've got it a 6.94

[11:52] {Threei}  yes?

[11:53] {Threei}  you lost me nemo

[11:53] {nemo}  but if chews through 1.05, maybe has a chance

[11:54] {Threei}  [11:51] {Threei} big blocks are being bought on INSM

[11:54] {Threei}  [11:51] {Threei} not exactly my kind of stock

[11:54] {Threei}  [11:51] {Threei} but if chews through 1.05, maybe has a chance

[11:54] {nemo} yes, so I expected a $1 stock, I saw almost a $7 stock, wanted to make sure I hadn't fubar'd it.

[11:55] {Threei}  ummm

[11:55] {Threei}  INSM is $1 stock

[11:55] {Threei}  PLD is $7 srtock

[11:55] {nemo} Yes, now I see how I made the mistake

[11:55] {Threei}  I don't know what causes confusion here

[11:55] {dptl} so you getting insm on .05 break?

[11:56] {Threei}  with stop under 1... I guess worth a try

[11:56] {dptl} 4 lots :)

[11:56] {Threei}  US REP FRANK: MARK-TO-MARKET RULES MUST BE IMPROVED

[11:56] {Threei}  buzz is back

[11:57] {dino} somebody finally whispered to barney about m2m

[11:57] {Threei}  UAUA

[11:57] {Threei}  US APPEALS COURT REPORTEDLY UPHOLDS LOWER COURT RULING BARRING PILOTS UNION FROM ACTIONS THAT WILL INTERFERE WITH COMPANY OPERATIONS

[11:59] {Threei}  US REP FRANK: MARK-TO-MARKET RULES MUST BE IMPROVED AND MADE MORE FLEXIBLE; SEES UPTICK RULE RESTORATION IN A MONTH'S TIME

[11:59] {Threei}  - Reminder on 3/5 Frank noted that Congress should not legislate accounting rules, but that the hearing on March 12 should examine making mark-to-market accounting rules more flexible

[11:59] {dino} sm last try cmtl l .50

[12:00] {Threei}  PLD aggressive buying

[12:01] {Threei}  tough battle here, hard to read

[12:01] {nemo} spike in fas hit right on your Barney comment then died

[12:04] {nemo} What's hard to read about PLD, Vad?

[12:05] {Threei}  that exchange of jabs around 7, could resolve either way

[12:05] {nemo} ty

[12:06] {dino} i have trouble reading chineese

[12:06] {dino} and spelling it too

[12:06] {magoo} WFC vad 12 comith

[12:07] {Threei}  sharp spike

[12:07] {Threei}  need pullback to .60 or so for entry

[12:07] {magoo} right..wanted u look at it

[12:08] {magoo} man..it was a dog until i minute ago

[12:09] {dino} barney and m2m magoo, banks big on m2m change

[12:09] {magoo} yup

[12:10] {geo} man cramer has become a butt of jokes on jon stewart

[12:11] {Threei}  finger on the trigger

[12:12] {magoo} hold off

[12:12] {dptl} where wfc?

[12:12] {Threei}  .61 if holding above .50

[12:13] {magoo} in .59

[12:14] {cujo} in .62

[12:15] {geo} http://www.thedailyshow.com/video/index.jhtml?videoId=220288&title=In-Cramer-We-Trust

[12:15] {geo} in .61

[12:15] {fernp} WFC?

[12:15] {geo} y

[12:15] {dino} cmtl stopped b/e toughie

[12:16] {Threei}  half out

[12:16] {geo} hal f out .71

[12:16] {Threei}  stop to .57

[12:22] {geo} out

[12:24] {magoo} u out..?i am

[12:25] {nemo} Interesting...that looked like a pretty good sort set up those last few minutes of WFC, but stocks are fighting back toay

[12:25] {nemo} today

[12:25] {nemo} short

[12:29] {Threei}  start feeling like after some hesitation we will get another leg up

[12:29] {Threei}  fading bounces has become too common

[12:29] {Threei}  one of them should break the habit

[12:29] {Threei}  and today seems to be it

[12:30] {geo} anyone held WFC?

[12:35] {Threei}  US SEC COULD CONSIDER REINTATING UPTICK RULE AS EARLY AS NEXT MONTH - UNCONFIRMED REPORT

[12:35] {Threei}  - echoes comments from Rep. Barney Frank earlier

[12:35] {Threei}  sheesh... who cares?

[12:36] {Threei}  banning shorting on financials altogether hasn't changed anything

[12:36] {Threei}  what do they think uptick rule will change?

[12:40] {dino} mcd not participating, 

[12:41] {pita} gotta go skiing, later all....

[12:41] {dino} have fun

[12:42] {Threei}  take care pita

[12:42] {magoo} bye pita

[12:42] {pita} much fun - 9"; if you gotta shovel, might as well slide some too.  TC

[12:46] {Threei} JBE Setup:  BAC  .81 trigger .70 support

[12:53] {Threei}  CAT

[12:53] {Threei}  MINING EQUIPMENT HEAD: SEEING POSSIBILITY FOR ACQUISITIONS IN CURRENT ENVIRONMENT

[12:53] {Threei}  {JOYG BUCY}

[13:00] {Threei}  question is still there

[13:00] {Threei}  market takes a breather or done for the day

[13:00] {Threei}  ECB'S ORPHANIDES: RECENT DATA INDICATE A WORSENING OUTLOOK; DOES NOT BELIEVE EUROZONE WILL RECOVER IN 2010

[13:01] {nemo} after the big gap up and the cloudiness over m2m moves, and the Pandit obfuscation, no hope to go on.

[13:01] {magoo} UP

[13:01] {nemo} rangebound for the day

[13:02] {magoo} last hour gonna be nutsarolla

[13:02] {Threei}  great... all you left is down

[13:02] {magoo} huh?

[13:02] {Threei}  one bet on up

[13:02] {nemo} Doesn't mean you have to take it...then again might be a lot of profit to take

[13:02] {Threei}  another on sideways

[13:03] {Threei}  what's a poor peasant to do

[13:03] {nemo} ah....make money?

[13:03] {dino} dji +150; ndx +38, s/p +20

[13:04] {nemo} so you're saying down from here Dino...just bark once

[13:04] {dino} woof

[13:04] {nemo} Well Vad, looks like you're left out

[13:04] {Threei}  (JP) JAPAN IS CONSIDERING A FUND THAT WOULD PROVIDE COMPANIES WITH LOW-INTEREST LOANS

[13:04] {Threei}  they decided to override banks and lend directly?

[13:15] {dino} ice sm l .08

[13:17] {Threei}  feels like breakout is brewing

[13:17] {Threei}  ACOR

[13:17] {Threei}  HEARING RENEWED TAKEOVER CHATTER CIRCULTING

[13:19] {Threei}  if market spikes, PLD is long .90 break

[13:19] {Threei}  WFC .50 break

[13:22] {dptl} pld stop?

[13:22] {Threei}  under .80

[13:22] {dptl} ty

[13:24] {dptl} in .90

[13:26] {Threei}  US SENATOR DODD: SUPPORTS REINSTATEMENT OF UPTICK RULE BY SEC

[13:26] {Threei}  sigh

[13:26] {Threei}  who votes these cluelkess guys in?

[13:27] {dino} ice stop is lod

[13:28] {dino} they will support anything against the "evil shorts"

[13:33] {Threei}  market finally broke

[13:34] {dptl} come on pld

[13:35] {nemo} boot Vad

[13:39] {nemo} out pld

[13:39] {dptl} stopped

[13:42] {dino} getting rinsed

[13:47] {dino} unusual

[13:47] {dino} hitting my b-day on the plus side

[13:48] {Threei}  SEC SPOKESPERSON REPORTEDLY DECLINES COMMENT ON UPTICK RULE

[13:48] {Threei}  if I ever saw a red herring...

[13:49] {fernp} BAC still valid over .80, Vad?

[13:49] {Threei}  can't tell really

[13:50] {Threei}  we are not getting trending move

[13:50] {fernp} ok

[13:54] {Threei}  RIMM holding nicely during pullback

[13:55] {Threei}  .70 break long if market bounces

[13:56] {nemo} stop .50

[13:56] {Threei}  under .60

[13:57] {fernp} good read in BAC. thank you

[13:57] {Threei}  :)

[13:58] {Threei}  lol

[13:58] {Threei}  CHINESE HACKERS CRACK DIGITAL VOUCHER CODE, SELLING AAPL ITUNES GIFT CERTIFICATES - APPLE INSIDER

[13:58] {geo} ooooh

[13:58] {geo} now chinese can learn english song

[13:59] {geo} finally !

[14:00] {magoo} dont like mkt pullbk here

[14:00] {magoo} reminds me of every day this month

[14:00] {Threei}  lame performance so far

[14:00] {Threei}  no drive

[14:00] {geo} rimm still on vad?

[14:00] {nemo} well, market made big gains today, why would it keep running the way things have been going?

[14:01] {Threei}  yes geo

[14:01] {dptl} ? i am in rimm.70

[14:02] {Threei}  nemo... exactly because no one expects it?

[14:02] {nemo} good a reason as any

[14:02] {dptl} stopped

[14:02] {geo} i didnt press trigger as spy seemed sluggish

[14:03] {nemo} spy and NDX

[14:03] {geo} also like the gains of first half so extra paranoid

[14:03] {nemo} and everything else for that matter

[14:18] {Threei}  pitiful market performance so far

[14:30] {cujo} Vad, you see the new daily show clip?

[14:31] {cujo} http://www.thedailyshow.com/video/index.jhtml?videoId=220288&title=in-cramer-we-trust

[14:31] {dino} comedy central, just saw it

[14:31] {Threei}  yeah

[14:31] {cujo} even better than the first one

[14:33] {Threei}  HRLY

[14:33] {Threei}  COMPANY PLACED ITSELF FOR SALE - UNCONFIRMED REPORT

[14:35] {Threei}  11 buyer with market order thinks "what the hell happened"

[14:39] {Threei}  so... mags

[14:40] {Threei}  want to buy Harley and become a king of bikers?

[14:40] {Threei}  we will get Chaeron to invest with us

[14:40] {dino} hog = harley

[14:41] {dino} hrly aerospace company

[14:41] {Threei}  shhh dino :(

[14:41] {Threei}  I was trying to entice him by yhe idea

[14:41] {dino} hahahahahahaha

[14:41] {geo} nice save vad

[14:43] {magoo} used to owbn 1

[14:44] {Threei}  I know

[14:44] {Threei}  that's why I thought of you

[14:44] {Threei}  but dino had to get in the way with facts

[14:45] {dino} sometimes i think you guys do not appreciate me

[14:45] {dino} (and then i grab a brew)

[14:46] {Threei}  lol

[14:47] {Threei}  RIMM lives its own life today

[14:47] {dino} vadster, what do you make of ice, mcd action?

[14:47] {Threei}  (US) US TREASURY NOTES 22 BANKS RECEIVED $284.7M IN TARP CAPITAL LAST WEEK

[14:47] {dino} uthr selloff

[14:47] {Threei}  ICE puzzles me

[14:48] {Threei}  thing is on a downtrend during market uprend, and that's in advance of a huge chunk of business coming its qway

[14:48] {dino} getting a huge chunk of business. thinking mcd is the "card" act obamination pushing

[14:49] {nemo} the CDS exchange?

[14:49] {dino} yes 

[14:49] {dino} trillions

[14:49] {Threei}  card act?

[14:49] {Threei}  I am not aware

[14:49] {Threei}  argh

[14:49] {dino} ununionization act, no vote, just sign card for all workers.

[14:49] {nemo} how many shares outstanding...could be sold down to get big players in cheap

[14:49] {Threei}  you know where this seloff is coming from?

[14:50] {dino} thinking it gets voted down, but demi's pushing hard for it

[14:50] {Threei}  of course big mouth on a little guy...

[14:50] {Threei}  (US) US TREASURY SEC GEITHNER: IT WILL TAKE A WHILE TO WORK THROUGH THE CRISIS, BUT IT IS OUR OBLICATION TO FIX IT - TV INTERVIEW

[14:50] {nemo} Obama speaking again

[14:50] {nemo} close enough

[14:50] {dino} lol, i'm watching the mets

[14:50] {nemo} no Pedro Martinez this year...best signing we didn't make

[14:51] {Threei}  (US) SENATOR SHELBY (R): ANY MARK-TO-MARKET CHANGES SHOULD BE MADE BY THE SEC, NOT CONGRESS

[14:51] {Threei}  yup, let's kick the can down the road

[14:51] {dino} sec does not have authority, it's an account, fasb, issue is what i'm reading

[14:52] {Threei}  I would think that card issue should have hit WMT hard dino

[14:52] {dino} was downgraded on open off it

[14:53] {dino} mcd may just be one of those days

[14:53] {Threei}  and we wonder why market hates new administration

[14:53] {Threei}  most business-unfriendly in I don't know how long

[14:54] {dino} since jimmy

[14:55] {nemo} Yeah, but he did one good thing...took Volcker's advice on how to kill inflation, and Volcker told him it would lose him the election.

[14:56] {dino} roflol, that helped, but lost the election because of iran, straw that broke the camels' back, imo

[14:57] {nemo} one thing on top of another, yeah...he didn't have the best run

[14:57] {dino} the 70s were rough

[14:58] {dino} bud halted?

[14:59] {Threei}  didn't it get bought out by INB?

[15:00] {dino} thats right

[15:01] {Threei}  FAS new high

[15:07] {dino} ok top is near cramer going bullish

[15:07] {Threei}  uh oh

[15:07] {cujo} sell sell sell....

[15:10] {Threei}  still can't get a feeling for the close

[15:11] {magoo} UP

[15:11] {nemo} expanding range downward on NDX and SPY

[15:13] {dino} down

[15:14] {nemo} dino, you're a broken record....woof!

[15:14] {dino} lol

[15:14] {nemo} FAS looks like it wants to take a little off the top

[15:14] {dino} i just have to go against magoo\

[15:14] {Threei}  stewart/cramer thing on CNN

[15:15] {nemo} He'll never bring beer if you keep that up

[15:16] {dino} its simply an "edge" 

[15:20] {magoo} wheres obama??ruin this

[15:20] {Threei}  he send minions out this time mags

[15:20] {Threei}  terrific tim

[15:20] {magoo} hes timing it for 3:40

[15:26] {magoo} read MS vad?

[15:26] {Threei}  if you call up is right, so will MS

[15:26] {Threei}  it's one of the strongests

[15:27] {Threei}  FAS new high

[15:27] {Threei}  RIMM too

[15:27] {magoo} k..took .50 ong ms

[15:28] {nemo} volume only average on the NAS and up but not great on S&P

[15:28] {Threei}  yout stop would be under .35

[15:30] {geo} un mck

[15:30] {geo} in

[15:30] {geo} break of .8

[15:30] {Threei}  CHIC

[15:30] {Threei}  CO. PUTS ITSELF UP FOR SALE - NYT

[15:30] {Threei}  lol

[15:31] {Threei}  I would suggest magoo to buy it but dino will say it's not chicken/eggs producer

[15:31] {cosmo} possible gapper?

[15:32] {dino} grrrrrrrrrrrrrr

[15:32] {dino} having trouble w/6+% moves in day

[15:33] {nemo} mae most of it by noon...only 1% since

[15:33] {nemo} made

[15:34] {dino} just wondering if it simply the bull in a bear spike

[15:34] {dino} time will tell

[15:36] {Threei}  certainly wouldn't make a cse for a bull market starting just yet

[15:37] {Threei}  US TREAURY SEC GEITHNER: FAILURE OF AN AUTOMAKER COULD CAUSE WIDESPREAD DAMAGE; REVIEWING AUTO RESTRUCTURING 'CAREFULLY'

[15:37] {cosmo} see how QQQQ tests 28 .... maybe tomorrow

[15:37] {magoo} so u against doug kass? :)

[15:37] {Threei}  he says we are in a bull market?

[15:38] {dino} says bottom in last week

[15:39] {Threei}  ummm

[15:39] {Threei}  THE bottom?

[15:39] {dino} harrison, 20% move in march, not sure which way

[15:39] {Threei}  or a bottom?

[15:39] {dino} "the"

[15:39] {Threei}  OK... I can't possibly be against him

[15:39] {cosmo} mother of all bottoms

[15:39] {Threei}  because we are on different planets

[15:39] {dino} but predictions are like azzes, everybody has one

[15:40] {nemo} and they all stink

[15:40] {Threei}  I am not about to start interplanetary war

[15:40] {dino} lol

[15:40] {geo} confucus says:

[15:40] {nemo} don't geo

[15:40] {geo} those who pick botttoms get stinky fingers !!!

[15:40] {Threei}  FAS looks like a gapper to me

[15:41] {dino} ohhhh mannnn, swiper says

[15:41] {geo} :)

[15:41] {geo} tough crowd

[15:46] {dptl} have a good evening all

[15:46] {Threei}  take care dp

[15:47] {geo} MCK and WHR

[15:47] {geo} sitting

[15:48] {Threei}  FAZ, what a murderous move

[15:48] {magoo} u mean 35 points?

[15:48] {Threei}  over two days

[15:52] {Threei}  WHITE HOUSE SPOKESMAN: HOPES TO HAVE NEW FINANCIAL REGULATORY STRUCTURE IN PLACE THIS YEAR

[15:52] {Threei}  - note: some senators, including Senator Schumer have stated they hope to have the blueprint for an overhaul of financial regulation prepared by early April.

[15:52] {Threei}  this year??

[15:52] {cosmo} april 1

[15:53] {cosmo} in the face of all superstition

[15:54] {Threei}  market finishes at the high

[15:55] {Threei}  DOW JONES INDEXES: IF US GOVERNMENT TOOK MAJORITY STAKE IN CITI, WOULD TRIGGER REMOVAL FROM DJIA

[15:56] {dino} sooooooo

[15:56] {cosmo} k

[15:56] {Threei}  WFC spike

[15:58] {dino} out lphi .31, +.71 all day jober

[15:59] {Threei}  +350

[16:00] {Threei}  okay guys

[16:00] {nemo} 7% on the Nas

[16:00] {Threei}  thank you all

[16:00] {Threei}  have a good evening, see you tomorrow

[16:00] {cosmo} bottoms up

[16:01] {vint} Thanks Vad, bye all.

[16:01] {dino} thx all, had fun

[16:01] {fernp} have a goog evening