Mar 13 2009

Mornng brought powerful plays on financial stocks. 50 cents on WFC, nice runs on FAS and BAC made the day. Second half was not too active as the pace slowed greatly. By any standard, very nice end to a week.

Session Time: Fri Mar 13 00:00:00 2009

[08:34] {Threei}  Good morning

[08:34] {cosmo} PALM springs...

[08:34] {nemo} heheeheheh

[08:34] {nemo} See that second link

[08:35] {Threei}  cosmo, nemo :)

[08:35] {cosmo} :)

[08:35] {nemo} cosmic :)

[08:35] {Threei}  05:53am [PALM] RBC Raised PALM to Outperform from Sector Perform

[08:35] {nemo} Only saw that 3 minute clip, but boy did Cramer take it in the shorts.  Give him credit for going on

[08:36] {nemo} Does that make it a sell?

[08:36] {cosmo} nemic:)

[08:36] {Threei}  BROADPOINT CAPITAL RAISED DELL TO NEUTRAL FROM SELL, PRICE TARGET: $11.50

[08:36] {Threei}  - Says stock is already discounting the challenging fundamentals.

[08:38] {nemo} geez...stretching their necks out on that 11.50 target...

[08:39] {Threei}  http://www.youtube.com/watch?v=tIPqe5bsjx4

[08:40] {nemo} It's up...was looking for that earlier this morning.

[08:42] {cosmo} QGEN

[08:42] {Threei}  JPM

[08:42] {Threei}  SHARES INITIATED AT OUTPERFORM AT BAIRD, PRICE TARGET $33

[08:44] {Onix} Good morning

[08:44] {Threei}  onix :)

[08:47] {nemo} John Stewart did a great job...impressive

[08:47] {Threei}  he was more restrained than in previous segments

[08:48] {nemo} well, he was treating this as a news story as opposed to a comedy skit...fantastic.

[08:48] {cosmo} same thing i thot

[08:49] {cosmo} i like the blend

[08:49] {nemo} I'm sorry cosmo...you thinking the same thing as me is not a sign of mental health.

[08:49] {nemo} remember, Vad always tells me not to think

[08:50] {cosmo} i understand

[08:50] {nemo} thanks

[08:51] {buyemsellem} morning. watching stewart/cramer to kick things off

[08:51] {nemo} Mmmmmhhhhh....Friday the 13th heading into the Ides of March. et tu Vad?

[08:52] {Threei}  buyem :)

[08:54] {Threei}  this is interesting read:

[08:54] {Threei}  http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=yahoo

[08:55] {nemo} see where the Chinese are voicing concern over US Debt?

[08:55] {Threei}  shrug

[08:56] {cosmo} debt happens

[08:56] {Threei}  eqzaktly

[08:56] {Threei}  they may express concerns... so what

[08:57] {cosmo} they could send troops

[08:57] {cosmo} nah

[08:57] {nemo} I understand there is a certain catch-22 about their situation...to protect their debt, they have to buy debt...but

[08:57] {cosmo} debt eventually eats its own tail

[08:57] {Threei}  nothing would be stupdier than to challenge your debtor, who also happens to be more powerful militarily

[08:58] {nemo} anyway...Vad, what conditions do you require before being comfortable with swing trades?

[08:59] {Threei}  events wise, m2m change to come out and be accpeted by the market as a good solution,

[08:59] {Threei}  chart wise, either puillback with higher low and rally contiuation

[08:59] {Threei}  or

[08:59] {Threei}  consolidation into m2m and breakout

[09:00] {Threei}  all this would show this is more than technical bounce

[09:00] {Threei}  I mean, as nice as it is, on a big scale of things this very small bounce

[09:01] {Threei}  still remains within the framework of "little bounce after huge selloff"

[09:02] {nemo} 3 days...BFD...of course, now the banks are saying they're healthy, so how much of a manipulation/scam has the last few months been...now m2m is being questioned and possibly adjusted, and as you said yesterday about things not being as bad...from a financial structure point of view...as we thought. 

[09:02] {dptl} good morning

[09:02] {Threei}  dp :)

[09:03] {Threei}  I don't know how bad things really are... but the thing is, nobody does

[09:04] {Threei}  we still have enormous volume of CDS to unwind

[09:04] {nemo} yes

[09:04] {Threei}  and no one knows how that is going to go

[09:04] {Threei}  we still have major sectors of economy on a brink of collapse

[09:04] {nemo} There is also to be determined whether there has been a secular shift in consumption

[09:04] {Threei}  enter GM

[09:05] {Threei}  so...

[09:05] {Threei}  before we all turn into raging bulls

[09:05] {nemo} Yes, and if OPEC can force the price of oil up...will drain capital away from economy

[09:05] {Threei}  let;'s let the charts tell us what to do

[09:05] {Threei}  I don't think they have any power at this point

[09:05] {nemo} Raging bull...nah...chicken little

[09:06] {Threei}  LVS

[09:06] {Threei}  EARLY STRENGHT ATTRIBUTED TO POSITIVE COMMENTS AT BERNSTEIN

[09:06] {Threei}  - likely use exiisitng assets to survive

[09:06] {Threei}  - reiterates OP rating and $8 PT

[09:07] {Threei}  nice target

[09:08] {cosmo} GM should make free energy motors, mag lev trains, and such

[09:08] {cosmo} their shovel ready for it

[09:08] {cosmo} they're

[09:09] {cosmo} wait...'free' ruins everything ...sorry

[09:09] {magoo} morning

[09:10] {Threei}  magoo :)

[09:10] {vinod} Good Morning

[09:11] {Threei}  vinod :)

[09:11] {Threei}  BOFA/MERRILL LYNCH INITIATES CLNE WITH NEUTRAL, PRICE TARGET: $5.50

[09:12] {magoo} game plan vad?

[09:13] {Threei}  pretty much same as yesterday for the first half of the day:

[09:13] {Threei}  assuming rally xcxontinues want to buy pullbacks and let the move develop, as we did with GE yesterday

[09:14] {Threei}  if that works as planned, then re-evaluate second half of the day to try and gauge

[09:14] {Threei}  whether profits will be taken into the weekend or shorts will run screaming

[09:15] {vinod} do you think FAZ may be good buy if market goes up 150

[09:16] {Threei}  I don't think in these terms

[09:16] {Threei}  why 150? why not 50 or 250?

[09:16] {vinod} sorry, thanks

[09:16] {Threei}  it's arbitrary numbers

[09:16] {Threei}  FAZ will be a good buy when this rally peters out

[09:17] {Threei}  and the question when it happens is something no one on tha planet is able to answer I suspect :)

[09:18] {cosmo} they might called the Globero

[09:18] {cosmo} might call it...

[09:18] {ese} morning.......had a late show last night....eyes are barely open....

[09:19] {Threei}  ese :)

[09:19] {ese} you know what they say though...."if your gonna fly with the eagles at night ya gotta learn to walk with the crows in the day"

[09:19] {Threei}  hmmm... you mean youy usually trade with your eyes open??

[09:19] {Threei}  I gotta try that...

[09:20] {dino} gm all

[09:20] {nemo} Why Vad, you have the 3rd eye-omniscient, all seeing...cough!

[09:20] {Threei}  dino :)

[09:21] {ese} I did trade with my eyes open ...it wasn't as much fun as just randomly selecting stuff

[09:21] {dino} that his wandering eye

[09:22] {Threei}  BALTIC DRY BULK INDEX -3.6%, 3RD STRAIGHT DECLINE ; LARGEST FALL SINCE FEB 13TH

[09:22] {cosmo} also a friday

[09:22] {cosmo} hmm

[09:24] {Threei}  STT very small gap comparing to the rest

[09:24] {Threei}  I'd expect it to do its usual sharp move down after open

[09:24] {cosmo} PALM pre nkt high = 8.40   fwiw

[09:24] {dino} es, i use the coin flip system

[09:24] {cosmo} mkt

[09:28] {vint} good morning all

[09:28] {Threei}  vint :)

[09:29] {Threei}  I reposted in the floor for late arrivals

[09:31] {Threei}  STT pulling back

[09:32] {Threei}  prepare half lot

[09:32] {Threei}  be ready but don't jump in too early

[09:33] {Threei}  23 break long

[09:34] {nemo} blew by

[09:34] {Threei}  back into it, next support is .75

[09:34] {Threei}  to put a stop under

[09:37] {ese} L DRYS .21

[09:37] {ese} bounce

[09:38] {dino} online edu hit

[09:38] {vinod} stt in 22.86

[09:39] {ese} if the Q's turn against me i'm out

[09:39] {Threei} Long Setup:  FAS  .25

[09:39] {Threei}  stop under .10

[09:44] {vinod} stt out 23.05

[09:44] {Threei}  market is still a bit hesitant

[09:44] {Threei}  not very clear

[09:44] {ese} DRYS hangin in there

[09:44] {dino} apol, esi, cpla blood

[09:45] {Threei} Long Setup:  WFC  .20 break if stays above 14

[09:48] {dino} apol gap fill from mon. close

[09:49] {dino} esi woprking on it

[09:49] {Threei}  okay market, time for higher highs

[09:49] {dino} filled

[09:52] {dino} v s .00, stop .37

[09:54] {fernp} Hello everybody

[09:54] {Threei}  fern :)

[09:55] {Threei}  *MARCH PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 56.6 V 55.0E

[09:55] {Threei} Long Setup:  BAC  .16 if stays above .10

[09:55] {wulff} probably alot of short screaming FALL!!! but so far no go

[09:55] {dino} cov v .60, +.40

[09:56] {dino} too soon

[09:56] {Threei}  we need to hold the lows of these pullbacks and start making new highs

[09:56] {dino} pins and needles mode

[09:56] {Threei}  if this happens, we are in for the stunning rally

[09:56] {ese} i;m all for the higher highs theory

[09:57] {dino} still not liking those mon. close gaps

[09:59] {ese} tick showing a tad bit more buying coming into the market...not much though

[09:59] {dino} es apol

[09:59] {Threei}  okay, things start looking as we want them to

[10:00] {nemo} 1/2 out fas .29 in .19

[10:00] {Threei}  next push should end this nonsense and launch us into rally territory

06[10:00] * Threei kicks the market in the rear

[10:01] {ese} thinkin bounce dino apol

[10:01] {dino} yes

[10:01] {dino} was at 64.60 just moved to .00

[10:01] {dino} esi, cpla same deal

[10:02] {Threei}  OK... let it be last pullback

[10:02] {Threei}  this grind requires more patience than I am accustomed to over last few months, lol

[10:02] {ese} i just added 2nd lot on DRYS after high low....want to watch apol though

[10:02] {Threei}  BAC at 1:1, holding

[10:03] {Threei}  not a scalp for me

[10:03] {ese} .50 bounce right there

[10:03] {ese} really nice bounce APOL

[10:04] {Threei}  WFC over 1:1 here, taking half off

[10:04] {ese} come on DRYS

[10:05] {magoo} out WFC .44 TY

[10:05] {Threei}  +.27

[10:05] {dino} well that sucked missed esi and apol

[10:05] {Threei}  BAC 1:2, half out

[10:05] {ese} whoa dino....nice bounce APOL

[10:05] {Threei}  WFC stop to .15

[10:06] {ese} NOOOOOOO say it isn't so dino.........

[10:06] {dino} so

[10:06] {nemo} 1/4 more fas .39

[10:06] {Threei}  FAS baby

[10:06] {magoo} out FAS .41 TY

[10:06] {Threei}  welcome

[10:06] {ese} trin falling tick climbing....come on market

[10:06] {nemo} ty vad

[10:06] {Threei}  half out FAS

[10:07] {Threei}  nemo :)

[10:07] {dino} cpla sm l .14

[10:07] {nemo} stop to where on fas vad?

[10:07] {Threei}  stop to .15

[10:07] {Threei}  I am really giving the room to breathe tosday, ain't I

[10:07] {nemo} you is

[10:08] {Threei}  WFC, out in full here

[10:08] {Threei}  +.52

[10:10] {Threei}  BAC 1/4 more out .29

[10:10] {nemo} out fas .45

[10:10] {nemo} ty vad

[10:11] {Threei}  FAS 1/4 more out .43

[10:11] {wulff} good calls

[10:11] {Threei}  ty

[10:11] {nemo} the Vadinator

[10:12] {Threei}  stops for last little pieces:

[10:12] {Threei}  BAC .14

[10:12] {Threei}  FAS .19

[10:12] {ese} could have walked from here to vads house for the amount of time drys is taking

[10:13] {Threei}  lol

[10:13] {Threei}  don't intend to lose money on these last portions as you see,

[10:13] {ese} put the coffee on vad

[10:13] {Threei}  and eant to leave them some room

[10:13] {Threei}  coffee?

[10:13] {Threei}  coffee??

[10:13] {nemo} you'll have to drink it black, ese

[10:13] {Threei}  come on

[10:13] {nemo} voka

[10:13] {nemo} vodka

[10:14] {Threei}  dp says

[10:14] {Threei}  no vodka - me no go"

[10:14] {dptl} lol

[10:14] {dino} old mossback rimm not following

[10:18] {ese} can barely see this morning as it is.....vodka would make me blind

[10:18] {Threei}  ok ese... softened version, just for you:

[10:18] {Threei}  coffee via hypodermic needle

[10:19] {ese} that'll work nicely

[10:21] {Threei}  kind of defining moment now

[10:21] {Threei}  FAS breaks .50, next leg starts

[10:21] {Threei}  if can't, we may get a breather

[10:21] {Threei}  BAC baby

[10:22] {Threei}  FAS baby

[10:23] {Threei}  let's start trailing morfe agressively

[10:23] {dino} ctrp

[10:23] {Threei}  FAS new stop is .34

[10:24] {nemo} Would new entry for FAS be break of .50

[10:24] {nemo} I'm out 

[10:24] {Threei}  BAC .24

[10:24] {Threei}  I hate breakoutys on this type of stocks

[10:25] {Threei}  okay

[10:25] {Threei}  out FAS

[10:25] {Threei}  gotta sit it out now and evaluate what's happening

[10:26] {dino} cpla stopped -.38

[10:26] {Threei}  pullback is a bit too sharp for my taste

[10:26] {nemo} Friday the 13th...I don't think this will be another euphoric day going into the weekend...steady digestion would be a success

[10:27] {dino} ctrp sm s .01

[10:29] {dino} bstop is .33

[10:30] {Threei}  sharp drop FAS

[10:31] {Threei}  not sure what's happening but happy with my exits

[10:32] {Threei}  I don't see any news

[10:32] {nemo} I think your comment is probably prevalent out there in the markets

[10:32] {nemo} Dino's retracements

[10:32] {ese} somethings rotten in Denmark....market internals not looking so good

[10:34] {Threei}  BAC is interestingly storng vs FAS

[10:36] {nemo} C might be setting up for a short, but looks like the markets are strengthening a tad

[10:39] {dino} ctrp bstop to .91 friday scalp mode

[10:39] {dino} to .75

[10:40] {dino} to .61

[10:41] {dino} riding it like a beat mule

[10:41] {dino} cov .61, +.40

[10:41] {magoo} WFC here long vad?

[10:41] {Threei}  not sure

[10:42] {dino} cpla lasyt try .15 sm l

[10:42] {Threei}  WHITE HOUSE ADVISOR SUMMERS: NEXT ECONOMIC EXPANSION SHOULD BE 'SOUND' AND NOT DUE TO 'FINANCIAL EXCESS'

[10:42] {nemo} seems to be following market

[10:42] {nemo} that would be new...the last three were because of financial excess

[10:43] {dino} you have to define the word "should"

[10:43] {Threei}  ugh... sorry, forgot to post BAC exit on the last poriton at .41

[10:45] {dino} ice, v, aapl, rimm

[10:45] {Threei}  - says can not predict when the crisis will end.

[10:45] {nemo} 2012

[10:49] {Threei}  consumer spending has appeared to stabilize

[10:52] {Threei}  glad we stayed away from WFC

[10:52] {Threei}  very unclear moment here

[10:54] {Threei}  - Comments that Obama will dicuss funding of emerging markets and increasing overall global demand at the G20 meeting (Note: White hosue press sec Gibbs made similiar forecasts yesterday)

[10:54] {Threei}  - Remarks that bank stress tests will create 'necessary adjustments'

[10:54] {Threei}  ummm

[10:54] {Threei}  funding of emerging markets?

[10:54] {Threei}  are we bailing out the world now?

[10:56] {Threei}  don't jump on these pullbacks just yet

[10:57] {nemo} they're only pieces of paper...

[10:57] {Threei}  well, they are IOUs

[10:57] {nemo} If they were a softer ply they'd actually be useful

[10:58] {Threei}  I am not trying to buy here, prefer to miss the bounce than to get caught in the next wave of selling

[10:59] {Threei}  our morning gains is nothing to sneeze at

[10:59] {Threei}  I'll better sit out a few hours of unclear actions than jeopradize them needlessly

[10:59] {Threei}  NASDAQ went red

[11:00] {Threei}  DJI is light green, S%P ia barely above the water

[11:00] {Threei}  look at FAS and WFC

[11:00] {nemo} BAC too

[11:00] {Threei}  yeah

[11:01] {Threei}  BAC is better bounce candidate

[11:02] {nemo} pNeed a double bottom after this drop?

[11:02] {Threei}  WFC actually managed to go red

[11:03] {Threei}  BAC support is 6.05 now

[11:03] {Threei}  pullback closer to it and pause is a valid entry point for double bottom

[11:03] {nemo} indexes turning up

[11:04] {Threei}  no way to tell where this pullback on BAC will bottom, watch FAS for guidance and try to catch the price close enough to support for stop comfort

[11:05] {Threei}  and don't jump on price alone, your signal is drop, pause, uptick

[11:06] {Threei}  watch FAS to turn up

[11:06] {nemo} yeah, could be upside down C&H

[11:06] {Threei}  right

[11:07] {Threei}  lost .05

[11:07] {Threei}  FAS drops like a stone

[11:07] {nemo} got a long way to go

[11:07] {nemo} look for .80?

[11:08] {Threei}  don't know

[11:08] {Threei}  it's not about prices at this point

[11:08] {nemo} just being academic falling knives and all

[11:08] {Threei}  this is not a technical move that can be read in terms of support resistance

[11:09] {Threei}  all markets are red

[11:09] {Threei}  now tell me... aren't you happy to be a DAY trader these days?

[11:09] {Threei}  we caught a beautiful march up in the morning,

[11:10] {Threei}  we correctly determined the potential, more than a scalp but not a full day hold yet,

[11:10] {Threei}  exited very close to the top

[11:10] {Threei}  and sat out this fall of a cliff

[11:11] {Threei}  and if you all fell asleep I will too

[11:30] {fernp} .

[11:31] {Threei}  we are in deep coma fern

[11:31] {Threei}  which is to say, we are in our normal state IQ wise

[11:31] {dptl} yawn......

[11:32] {fernp} I have to learn to do that

[11:32] {Threei}  it's easy

[11:32] {Threei}  ask dp

[11:32] {dptl} it' easy....Firn...vodka is the key..

[11:32] {Threei}  involves healthy dose of Stoli

[11:33] {dptl} sorry fern..

[11:34] {fernp} no problem. Looking for vodka right now

[11:35] {dptl} it's should be in the fridge...always..no need to look for it then..:)

[11:41] {Threei} Long Setup:  BAC  6 break, just a scalp

[11:42] {nemo} stop?

[11:43] {Threei}  depends on where it bottoms on this pullback

[11:43] {Threei}  under .90 invalidated

[11:43] {Threei}  .96 held

[11:43] {Threei}  so if breaks from here, you have your stop

[11:46] {Threei}  market weakens more

[11:46] {Threei}  so does FAS

[11:46] {Threei}  good test for BAC's resolve

[11:46] {nemo} out

[11:48] {Threei}  ECB'S WELLINK: IT IS NOT AN OPTION FOR GREECE OR ANY OTHER COUNTRY TO LEAVE THE EMU

[11:48] {Threei}  - notes there is flexibility in the EMU stability pact to exceed the 3% deficit limit.

[11:48] {Threei}  no?

[11:48] {Threei}  once you are in, you are in forever?

[11:57] {Threei}  anyone's awake still?

[11:57] {nemo} yeah

[11:57] {Threei}  or let's bag out astounding morning profits and go enjoy weekend?

[11:57] {Threei}  out = our

[11:59] {Threei} Long Setup:  PALM  8 break

[11:59] {Threei}  stop under 7.90 for scalpers, under 7.80 for day trade

[12:01] {Threei}  hmmm... there is a stock named MAGS

[12:02] {nemo} do they make beer drinking machines?

06[12:02] * Threei slaps magoo around a bit with a large MAGS news headline

[12:02] {Threei}  ANNOUNCES THAT IT EXPECTS TO INCUR NON-CASH WRITE-OFFS AND ESTABLISH RESERVES FOR TERMINATION EXPENSES

[12:04] {vinod} in palm 8.00

[12:04] {Threei}  it didn't break yet

[12:05] {Threei}  when it's bumping on the resistance for that long, it's actual break you want to see before entering

[12:05] {vinod} 8 breaks means if it breaks 8.00?

[12:05] {Threei}  [11:59] {Threei} Long Setup: PALM 8 break

[12:05] {vinod} got it

[12:05] {Threei}  meaning, it's sets up for ther trade if breaks 8

[12:05] {Threei}  look at the chart, you'll see it testing 8 for a while

[12:06] {Threei}  break of resistance serves as a trigger for the trade

[12:07] {vinod} thanks

[12:17] {wulff} what should we talk about?

[12:17] {Threei}  flowers?

[12:17] {wulff} i have some nice orchids

[12:17] {Threei}  I don't

[12:18] {wulff} facinating

[12:18] {Threei}  CAT is trying the low

[12:18] {Threei}  if market drops sharply, could be a short

[12:18] {Threei}  let's say .10 trigger

[12:20] {Threei}  so far nearest resistance is .20, for hardcore scalpers .15

[12:24] {dino}  hmmmmmmmmmmmmmmmm

[12:26] {wulff} drys .05 long

[12:27] {wulff} stop .99

[12:31] {wulff} how about roses?

[12:32] {Threei}  couple shrubs

[12:32] {wulff} flowers grow in russia?

[12:32] {Threei}  umm... well... yes

[12:33] {wulff} snow and all...

[12:33] {nemo} snow flowers

[12:33] {Threei}  not 12 months a year...

[12:33] {wulff} well... now we're discussing

[12:34] {Threei}  cool... polar bears don't eat roses

[12:34] {Threei}  (random fact)

[12:36] {Threei}  polar bears don't eat penguins either

[12:36] {Threei}  (another random fact)

[12:36] {nemo} should I tell them about how to catch  a polar bear?

[12:36] {Threei}  them - penguins?

[12:36] {nemo} in general?

[12:38] {Threei}  TM SUSPENDING PRODUCTION AT RUSSIAN PLANT

[12:39] {Threei}  Russia is back to Lada?

[12:41] {vinod} my family used t have a car Volga

[12:42] {Threei}  yup... luxury brand

[12:43] {vint} prez on tv?

[12:44] {Threei}  not that I see

[12:45] {Threei}  I actually start experiencing withdrawal symptoms

[12:45] {vinod} going toward green on marlket?

[12:46] {Threei}  trying...

[12:49] {wulff} if drys is not moving with this pop, should I consider it no go

[12:49] {Threei}  hard to tell

[12:49] {Threei}  could be dead, could be biding its time

[12:53] {ese} Outta here for the weekend all....take care

[12:54] {Threei}  have a good one ese

[12:54] {ese} will do vad.....still nursing DRYS......we'll see what happens at the end of the day

[12:56] {nemo} RIMM creeping

[12:56] {wulff} snoozer huh?

[12:57] {vint} vad-is market volatile whole last year or just recently?

[12:57] {Threei}  this volatility is nothing vs what we had in the fall

[12:57] {Threei}  Sept - Oct were the highest I've ever seen

[12:57] {nemo} what's the vix at?

[12:58] {vint} thanks

[12:59] {wulff} was 41 yest.

[12:59] {nemo} what was it, in the 90's in the fall?

[12:59] {Threei}  80+, yeah

[12:59] {Threei}  highest ever

[12:59] {nemo} so half the volatility?

[13:00] {nemo} BAC C&H A.94?

[13:00] {Threei}  yeah

[13:00] {Threei}  right chart, wrong time

[13:00] {nemo} lunch time?

[13:01] {Threei}  yes

[13:01] {nemo} roger that

[13:02] {Threei}  why don't they come out now and sayy we are abandoning m2m

[13:02] {Threei}  we would buy 5K FAS, 5K BAC

[13:02] {Threei}  and make our monthly profit in one hour

[13:03] {_skylan8} rimm looks like breaking out here ?

[13:03] {nemo} make the year if we waited all day :) that's a lot of vodka

[13:03] {Threei}  same thing as for FAS, skylan

[13:03] {Threei}  at this time of the day more setups tend to fail than work

[13:04] {Threei}  kind of too random

[13:04] {nemo} yeah, watching that too.

[13:06] {_skylan8} ok

[13:12] {nemo} well, FAS and BAC setting up for a JB?

[13:13] {nemo} SPY also

[13:13] {Threei}  probably...

[13:13] {_skylan8} what is JB?

[13:13] {Threei}  JBE?

[13:14] {nemo} Either a Jump Base Implosion or Explosion, depending on whether you think it's going up or down...it's a chart pattern

[13:14] {nemo} see how FAS and SPY just popped?

[13:15] {Threei}  JBE = Jump-Base- Explosion setup

[13:15] {Threei}  DBI - Drop-Base-Implosion

[13:16] {nemo} oops, screwed up the acronym

[13:16] {nemo} sorry VAD

[13:16] {magoo} STT bounce vad?

[13:16] {nemo} everything just bounced

[13:17] {Threei}  STT is a bit weird

[13:17] {Threei}  not sure

[13:19] {dino} sidetracked here

[13:31] {nemo} BAC Vad, or is it teasing us?

[13:32] {Threei}  I have hard time gauging this move

[13:32] {Threei}  volume and pace are practically non-changing

[13:32] {Threei}  no feel of the direction of pressure

[13:34] {dino}  grrrrrrrrrrrr, big misses on apol, esi

[13:35] {dino} asleep at the wheel on them

[13:37] {dino} i underestimated esi, was at 98.80 in wait

[13:38] {Threei}  see this sudden drop FAS?

[13:38] {nemo} yes

[13:39] {Threei}  this is exactly kind of things that I feel can happen any second on the move like this

[13:39] {Threei}  and it keeps me on a sideline

[13:39] {nemo} landmines everywhere

[13:40] {dino} hmmm and all along i thought it was your un-athletic abilities

[13:41] {nemo} whoa, Dino

[13:41] {dino} :)

[13:43] {dino} guess i hurt his feelings

[13:43] {Threei}  you would, if I could read

[13:43] {Threei}  but, since I can't... you are safe

[13:44] {Threei}  on second thought...

[13:44] {dino} ahhhh, ty 3i-son

06[13:44] * Threei slaps dino around a bit with a large 50 lb dumbbell

06[13:45] * nemo slaps dino around a bit with a large Emily Post's "Rules of Etiquette"

[13:45] {dino} ouch!

[13:45] {dino} see those sparks fly, like steel on steel

[13:45] {Threei}  lol

[13:45] {dino} cpla stop to .78 

[13:45] {nemo} steel on lead you mean

[13:45] {vint} prez on tv- talking about economy

[13:46] {dino} ok

[13:46] {nemo} you're jokin'?

[13:46] {Threei}  no

[13:46] {Threei}  he is on

[13:46] {nemo} only first time though, must be sick

[13:46] {dino} he's like the cnbc bunch w/someone talking in his ear so he knows what to say

[13:50] {dino} out slippage both ways, ave .83, +.68

[13:50] {dino} cpla

[13:55] {dino} rimm l .49

[13:56] {nemo} ballsy ino

[13:56] {nemo} Dino

[13:57] {dino} feeling a turn, tight stop .37

[13:57] {dino} and of course, fortune favors the bold

[13:57] {nemo} funny, guys on point get shot first

[13:58] {dino} lol

[13:58] {dino} of course, the east of the saying, "darkness lies an inch ahead"

[13:59] {dino} the rest

[13:59] {nemo} And of course, "I couldn't tell if that is a light at the end of the tunnel, or an oncoming train?"

[14:01] {dino} darn v was my other choice, i choose badly

[14:01] {wulff} PALM

[14:03] {_skylan8} 3i if oil goes up $1 a barrel how much would DXO go up  approximate?

[14:03] {nemo} match it up to the various measures of crude out there?

[14:04] {Threei}  no idea skylan, sorry

[14:04] {Threei}  never tracked that

[14:04] {wulff} if oil goes up in the woods...

[14:04] {_skylan8} ok

[14:05] {Threei}  PALM

[14:05] {Threei}  HEARING RENEWED TAKEOVER CHATTER

[14:05] {Threei}  - DELL rumored as a potential bidder

[14:05] {Threei}  lol... remember we once discussed that

[14:06] {dino} msft should

[14:06] {nemo} not too long ago

[14:06] {Threei}  DELL said to be looking into entry in mobile phones,

[14:06] {Threei}  and we speculated that PALM ould be a target

[14:09] {nemo} Nice Dino my .52 bid didn't get hit

[14:09] {dino} out rimm .61, +.12

[14:10] {dino} ty nemo, lucky

[14:12] {nemo} Volume,except for DOW looks like people tiptoeing into the weekend

[14:12] {wulff} next hour will tell

[14:12] {_skylan8} 3i when you say to stop out do you use broker automatic stops or just mental stop and pull trigger yourself?

[14:12] {Threei}  yeah, activity should resume closer to eod

[14:13] {Threei}  people will start repositioining

[14:13] {Threei}  I prefer mental stops

[14:13] {Threei}  they require discipline

[14:13] {Threei}  but if that is not an issue, they have a lot of advantages over hardwired ones

[14:15] {_skylan8} i use mbtrading and automatic stops but can marketmakers see where my stops are?

[14:15] {dino} fwiw i prefer auto stops on naz

[14:15] {Threei}  that's not an issue at all skylan

[14:16] {dino} on naz no

[14:16] {Threei}  unless you trade hundrerds of thoudands of shares, who cares

[14:16] {Threei}  if you trade 1-2-5K shares, no one is going to run around looking for your stop placement

[14:16] {_skylan8} ok thnks

[14:17] {Threei}  it can feel sometimes as if they were looking for your specific stop location, as stock reverses right after taking you out

[14:17] {dino} nemo, v nice range

[14:17] {Threei}  but it's more related to most placing their stops in the same places

[14:18] {Threei}  and no, marketmakers can't see it

[14:18] {nemo} ascending Dino, but these dumps...look at RIMM

[14:18] {Threei}  your broker can IF the stop is serevr-sided, not client-sided, and IF he cares at all

[14:18] {wulff} I actually have laser eyesight

[14:19] {Threei}  which, being am agency, he doesn't

[14:19] {Threei}  if he acts as principal, he may

[14:19] {nemo} what wulff...I had laser surgery

[14:19] {Threei}  but direct access brokers don't do that as a rule

[14:20] {nemo} damn Dino, whish I had seen that double top, then I could have called it and not taken it :)

[14:20] {dino} i'm a bottom buyer in bears

[14:20] {nemo} oooohhhhh....how alliterative

[14:21] {dino} lasik, me too

[14:21] {nemo} prefer not to do it again, but went from holding the alarm clock up to my face to 20-13...now, my arms aren't long enough

[14:22] {nemo} http://www.thestockmasters.com/cramer-fired-2006-video-03132009.html

[14:22] {dino} 20-15. alto age setting in

[14:23] {_skylan8} RIMM dropping  fast

[14:23] {vint} for mental stop, what is advisable to pull the trigger when it hits exact stop price or we can be flexible few cents? many times I see price touching mental stop and turning in favor

[14:23] {dino} will rimm hold lod

[14:23] {dptl} have a good weekend all

[14:23] {dino} cya dp have fun

[14:26] {Threei}  take care dp

[14:26] {Threei}  skylan, that depends on how your stock arrived there

[14:26] {fernp} by dp

[14:27] {fernp} bye

[14:27] {Threei}  if it dipped fast and paused, it's often bouncing back right away

[14:27] {Threei}  so in such cases I tend to wait a little

[14:27] {Threei}  and sell if selling resumes

[14:27] {Threei}  but if your stock slid gradually into stop level and brokeit, get out right away

[14:28] {Threei}  oops, sorry, that was for vint

[14:28] {vint} got,that has been my struggle

[14:28] {vint} thanks

[14:28] {_skylan8} if RIMM breaks low of day should we go short or how low before shorting?

[14:29] {Threei}  RIMM is mostly a market follower

[14:29] {Threei}  your best bet on it is a situation when it stalls right above the support,

[14:29] {wulff} you like PALM here vad?

[14:29] {Threei}  and market breaks down sharply

[14:29] {_skylan8} good point on how it got there 

[14:29] {Threei}  If you manage to catch that little delay that follower often gives, that's the best short entry

[14:30] {Threei}  PALM, not sure...

[14:30] {Threei}  it has slight upward bias but not so compelling that I would be eager to jump in

[14:31] {dino} f'ing cyber, 143 of 1000 at .25 rimm. thx chuck

[14:31] {dino} i'd be out already

[14:31] {nemo} you got chucked

[14:32] {dino} roflol

[14:34] {vinod} i thing fas is strong again

[14:35] {dino} v hk l .47

[14:35] {wulff} hypothetical PALM 1:1

[14:36] {dino} rimm stop to .49

[14:36] {dino} out rimm 

[14:36] {dino} +.24

[14:38] {fernp} gj dino w/your 143 shares

[14:38] {dino} case of beer, (ch)uck job

[14:38] {nemo} awwwwww fern!!!!!!

[14:38] {Threei}  lol

[14:38] {dino} the plan was correct

[14:46] {nemo} dino dcc please

[14:47] {wulff} PALM!! ouch

[14:47] {nemo} get spanked wulff?

[14:47] {Threei}  looks like reacts on market mostly now

[14:48] {wulff} was going to trade..but stayed out

[14:49] {dino} nemo, i'm there

[14:49] {Threei}  ok... let's assume this little pullback is a launching pad the the next leg up

[14:49] {Threei}  if so, FAS .10 break for a scalp

[14:51] {vinod} means any price under .10 ?

[14:52] {Threei}  no... breakout of .10

[14:52] {Threei}  as a trigger for entry

[14:52] {vinod} o.k I awill get ther may take some time

[14:53] {Threei}  if loses 5, ceases to be a breakout play and turns into bounce

[14:53] {vinod} i am taking this note

[14:53] {Threei}  and, if market spikes up from here, grab FAS aggressively right here

[14:55] {Threei}  nothing is clear yet... meaningless noise

[14:55] {Threei}  a few cents up, a few cents down

[14:56] {vinod} will i get all book soon

[14:56] {Threei}  feels like up is the most likely direction

[14:56] {Threei}  but it's like 51/49

[14:57] {dino} out v .71, +.24

[15:04] {dino} amed

[15:05] {fernp} have a nice weekend all. see you all on monday.

[15:05] {Threei}  have a good one fwern

[15:11] {dino} later fernp

[15:12] {nemo} bets on market today?

[15:12] {wulff} +70 +15

[15:13] {wulff} or -70 -15

[15:13] {nemo} definite maybe, huh pal

[15:16] {Threei}  still feels like up to me

[15:18] {cosmo} holx

[15:19] {cosmo} may test

[15:20] {patience} short covering rally...just a pause before down again imo

[15:20] {Threei}  FAS if dives under .10, looking for entry

[15:21] {Threei}  BAC nice buying pressure

[15:30] {dino} iwov

[15:33] {Threei}  C

[15:33] {Threei}  REPORTEDLY OFFERING SOME NEW HIRES IN LONDON GUARANTEED BONUSES OF $2-3M

[15:34] {dino} waiting sm .20

[15:34] {dino} iwov

[15:35] {nemo} nice work if you can get it, huh Vad?

[15:35] {Threei}  I am not moving to London

[15:35] {nemo} rains more than there?

[15:36] {Threei}  I can't understand British accent

[15:36] {i2romantis} lol

[15:36] {nemo} I used to have that problem with Russian accents

[15:36] {wulff} good call on the .10 bounce, did not take it though FAS

[15:36] {cosmo} they can't speak english correctly?

[15:37] {vinod} have a nice weekend to all

[15:37] {Threei}  have a good one vinod

[15:37] {dino} cya vinod

[15:40] {Threei}  IWOV

[15:40] {Threei}  STOCK SLIPS AFTER RELEASE OF ITS 10-K: WEAKNESS APPEARS TO BE A REACTION TO STANDARD 'RISK FACTOR' STATEMENT

[15:40] {Threei}  - "On January 22, 2009, we entered into a definitive agreement to be acquired by Autonomy Corporation plc in an all-cash transaction. Pursuant to the definitive agreement and subject to the terms and conditions set forth therein, Interwoven will be merged with and into a newly formed, wholly-owned subsidiary of Autonomy, with Interwoven surviving the merger as a wholly-owned subsidiary of Autonomy. Our announcement of our proposed transaction with Autonomy could cause a material disruption to our business."

[15:41] {dino} ty

[15:41] {Threei}  I don't get it

[15:41] {dino} circle talk

[15:41] {Threei}  buyout is set, all cash

[15:41] {Threei}  what difference does it make what happens to their business

[15:42] {cosmo} they dont want to loose autonomy

[15:43] {Threei}  don't tell pun was not intended

[15:43] {dino} sm l v .25 stop lod

[15:43] {cosmo} it was  ... hehe ....sorry...

[15:43] {Threei}  :)

[15:46] {Threei}  whole second half of the day was mostly out of my read

[15:46] {Threei}  and today's volume is, ummm

[15:47] {Threei}  would the spelling "redeekoolus" be right?

[15:47] {nemo} redikulus?

[15:47] {Threei}  that's it, thank you

[15:47] {nemo} de nada

[15:47] {dino} stopped v -.28

[15:48] {Threei}  seriously, on NQ volume is 1/3 of yesterdays and 10%(!) of Wed

[15:48] {Threei}  FHFA'S LOCKHART: CURRENT MORTGAGE MODIFICATION BILL COULD HARM FNM AND FRE, SHOULD BE ADJUSTED

[15:48] {Threei}  HARM FNM AND FRE???

[15:49] {Threei}  they can be harmed any more ijn any regard than they have been already??

[15:49] {nemo} could be rediqlus

[15:49] {Threei}  dawg... let's say it together

[15:50] {Threei}  they trade under 50 cents with 2-3 cents range, for CHRISSSSAKE

[15:50] {nemo} not talking about stock...alll the bureaucrat jobs

[15:50] {dawg} yeah boss

[15:51] {Threei}  I'll leave Lockhart to worry about those jobs

[15:51] {dino} iwov .55 l

[15:52] {Threei}  how about someone starts worrying about jobs lost because of the union card bill? or prices skyrocleting because of cap-andf-trade?

[15:53] {nemo} or OPEC squeezing supply

[15:53] {dino} out .67 +.12

[15:54] {dino} v major rinse

[15:56] {dino} v l .05 

[15:57] {Threei}  can anyone with different source verify the volume numbers?

[15:57] {Threei}  seem so out of whack

[15:58] {nemo} Just looking at FINVIZ DOW 150%  NAS 97%  S&P 110% of average

[15:58] {Threei}  ah, OK{ I see where the problem is

[15:59] {Threei}  I watch futures, and there is a rollower day soon

[15:59] {Threei}  I always forget about that

[15:59] {Threei}  so volume dries up on maturing contract

[15:59] {dino} out v .17, +.12

[16:00] {Threei}  just swithced to new one, volume is much better

[16:00] {Threei}  okay guys, beautiful end of the week

[16:00] {Threei}  even with inactive seond half of the day

[16:00] {Threei}  thank you sll, have a great weekend

[16:00] {Threei}  see you on Monday

[16:00] {dawg} thanks Vad and all

[16:01] {dino} thx all best week of year

[16:01] {wulff} ditto

[16:01] {Threei}  great to hear :)

[16:01] {nemo} Peace & QUiet

[16:01] {dino} gj wuff

[16:04] {vint} Thanks Vad, bye all