Mar 16 2009

Decent day overall, even though most of financials haven't performed for big part of the day. Some scalps on usual suspects (FAS, BAC etc)  plus decent plays on RIMM and FAZ kept the day profitable.                                                                                                                                                          

Session Time: Mon Mar 16 00:00:00 2009

[08:05] {ese} morning....too many sulfates in the wine last night.....up too early

[08:06] {Threei}  Good morning

[08:06] {nemo} no sulfates in vodka

[08:06] {Threei}  FAS happy buying again

[08:06] {nemo} BAC too

[08:06] {nemo} Happy Monday's scare me

[08:07] {Threei}  BAC is still trading under Fri high

[08:07] {Threei}  FAS is above

[08:07] {ese} morning vad....nemo

[08:07] {Threei}  GE is close to serious resistance at 10

[08:07] {Threei}  ese :)

[08:07] {nemo} Buenos tardes

[08:12] {ese} How bout that....blast from the past DNDN on the pre market screen

[08:12] {Threei}  yeah... they have FDA decision coming

[08:12] {Threei}  don't remember the date

[08:13] {ese} can't remember what they do.....do you recall Vad?

[08:13] {Threei}  drug Provenge

[08:14] {ese} what does it do.....presevre youth

[08:14] {Threei}  that I don't remember

[08:14] {nemo} improves memory :)

[08:15] {Threei}  lol

[08:15] {ese} pretty funny there nemo.......quick thinkin too

[08:16] {nemo} Kinda' lucky...haven't even finished my first cup of coffee...usually have to check my license to remember my name until I finish the second cup.

[08:16] {ese} I'm still long 2 lots of DRYS at .21 from friday....it's lookin good right now

[08:21] {Threei}  GM EXEC: EXPECTS MARCH US SALES TO BE INLINE WITH LEVELS SEEN IN BOTH JAN AND FEB

[08:21] {Threei}  {F}

[08:21] {Threei}  I guess if things stopped deteriorating, it's as good news as we can hope for

[08:25] {Threei}  Brief summary of G20 propsed changes:

[08:26] {Threei}   An enhanced role for the Federal Reserve to monitor and address broad economic risks.

[08:26] {Threei}   Changes to the way banks are overseen to prevent lenders from shopping among regulators for the easiest supervision.

[08:26] {Threei}   More transparency and stricter rules for the way money flows between banks.

[08:26] {Threei}   Tougher capital requirements for big banks.

[08:26] {Threei}   Consolidation of consumer-protection enforcement.

[08:27] {Threei}  first line is beyond the comon ense as it exists in my universe

[08:27] {Threei}  common sense

[08:27] {Threei}  fox guarding the henhouse

[08:27] {Threei}  PIMCO'S EL-ERIAN: MARKET WAS DUE FOR A TECHNICAL BOUNCE IN ACROSS ALL ASSETS, TOO EARLY TO CALL A BOTTOM - CNBC

[08:27] {Threei}  party pooper

[08:30] {Threei}  MAR EMPIRE MANUFACTURING: -38.23 V -30.80E

[08:31] {Threei}  - Prices Paid: -26.7 v -13.79 prior (record low)

[08:31] {Threei}  - New Orders: -44.8 v -30.51 prior (record low)

[08:32] {Threei}  - Employment: -38.20 v -39.08 prio

[08:50] {Threei}  GE consolidation range is 9.85 - .95 so far

[08:50] {Threei}  with .98 being Fri high and 10 natural resistance to break

[08:51] {Threei}  if we get rally continuation, this is candidate for the move similar to one we got on Fri morning

[08:53] {magoo} morning

[08:53] {Threei}  magoo :)

[08:54] {ese} MMMMAAAAAGGGGGSSSSSSS zzzaaaaaahhhhhh....how are ya?

[08:57] {pita} gm everyone

[08:58] {ese} pita...

[09:00] {Threei}  pita :)

[09:06] {Threei}  let's start outlining plan for GE

[09:06] {Threei}  from today's premarket action, 9.85 is support

[09:07] {Threei}  9.95 is resistance, with 10 to break as a signal for continuation

[09:07] {ese} was laughing my brains out on the weekend reading the Darwin Awards.   Story titled "once again golfers prove that testosterone and beer don't mix"  one fellow in the foursome was so loaded that he climbed up on the ball washer and stuck his testicles in it to wash them off......well he promptly fell and tore them right off becoming one of the few Darwin winners to be awarded the top darwin for his category because he was still alive.  couldn't

[09:07] {Threei}  so, if you want aggresive entry, that would be about here with .84 stop

[09:08] {pita} Here, as in pre-mkt?

[09:09] {Threei}  if you like the idea of aggresive entry, with very tight stop, yes

[09:10] {Threei}  yesetrday's close is .61

[09:10] {Threei}  if market is not holding its gap and GE loses .85, that will be next area to watch

[09:11] {Threei}  regular entry would be let it trade for now, then buy 10 break with stop located under the low formed before the break

[09:12] {Threei}  for FAS, .50 is Fri resistance

[09:12] {Threei}  broke it earlier, retreated, held .40

[09:13] {vinod} good Morning to all

[09:13] {Threei}  vinod :)

[09:13] {Threei}  03/16/09 06:56am

[09:13] {Threei}  [FEED] Agfeed Industries Reports FY08 $0.74 v $0.62e (ex items), R $143.7M v $138.0Me (1 est), temporarily suspends stock buyback

[09:13] {Threei}  - AgFeed intends to invest heavily in genetics with a target to support the expanding sow base from 2009''s 31,500 sows to 50,000 sows over the next 24 months.

[09:13] {Threei}  - Company believes that the Chinese markets will once again attain double-digit growth rates. Increasing urbanization and the swift growth of the Chinese middle class, strongly position AgFeed for the expanding Chinese consumer pork market.

[09:13] {Threei}  - No Signficant Deficiency, Material Weakness found In Co''s Internal Control Process

[09:14] {dino} gm all

[09:14] {Threei}  dino :)

[09:14] {cosmo} CVTX pre mkt high = 19.75  fwiw

[09:14] {nemo} dino :)

[09:15] {Onix} Good morning all

[09:15] {Threei}  FEB INDUSTRIAL PRODUCTION: -1.4 % V -1.3%E;

[09:15] {Threei}  onix :)

[09:16] {Threei}  CNBC: GOVT TO RELEASE MORE DETAILS PUBLIC PRIVATE PARTNERSHIP THIS WEEK OR EARLY NEXT WEEK

[09:17] {nemo} "Public Private Partnership"  codeword for advancing socialism

[09:17] {dino} uthr

[09:17] {nemo} there's a gapper

[09:17] {cosmo} what's a public/private relationship look like?

[09:17] {cosmo} ...ah

[09:18] {dino} airbus

[09:18] {nemo} Who knows, there making this up as they go along...won't be good for the plebians

[09:18] {nemo} they're

[09:19] {cosmo} how bout the sirians?

[09:19] {nemo} are you serious

[09:19] {ese} Ithink UTHR will bounce back up dino

[09:20] {cosmo} cvtx

[09:20] {cosmo} tests

[09:21] {nemo} PROVENGE is used in treatment for prostate cancer

[09:21] {dino} me too es, was down 9+ 

[09:23] {Threei}  FASB ALLOWING FIRMS TO EXERCISE MORE JUDGEMENT ON APPLICATION OF MARK TO MARKET ACCOUNTING

[09:24] {Threei}  no idea what it means

[09:24] {nemo} 10,000 shares FAS at market.....just kidding

[09:24] {ese} ya to 56....bit of an over reaction to say the least

[09:24] {Threei}  but FAS is upticking

[09:24] {nemo} yep

[09:25] {Threei}  GE honestly trying

[09:27] {Threei}  FAS is too

[09:28] {ese} QQQQ has been trending down here in pre market...will drag some stuf with it

[09:28] {nemo} spy is starting too also...has a bit of a topping pattern 

[09:29] {dino} uptick and m2 were changed in 1938, in '07 changed back, fwiw

[09:30] {Threei}  if you took that aggressive entry on GE, keep stop under .85 and let it break 10

[09:30] {Threei}  morning volatility may work for us or against

[09:30] {Threei}  so far so good though

[09:31] {Threei}  let's sell half here

[09:31] {Threei}  .13

[09:31] {Threei}  scalpers know what to do

[09:32] {Threei}  let's see now how well both FAS and GE hold this pullback

[09:34] {ese} bstop sm 300 shs UTHR 61

[09:34] {Threei}  for those who took half off, stop .88 for the balance

[09:34] {ese} L

[09:34] {Threei}  for scalpers who took whole profit, 10 break is new entry

[09:35] {Threei}  if holding above .90

[09:36] {ese} should have had that bstop at .05

[09:36] {ese} we'll see

[09:37] {ese} just touched 61 and triggered it 

[09:38] {Threei} Long Setup:  FAS  .56

[09:38] {fernp} Hello everybody

[09:38] {Threei}  stop under .45

[09:38] {Threei}  fern :)

[09:39] {Threei}  scalpers have 1:1 on GE again

[09:39] {Threei}  and FAS

[09:39] {Threei}  half out for day traders

[09:40] {vinod} ge in 10.01

[09:41] {Threei}  unbelieavbly risky call:

[09:41] {Threei}  FEED long .70 break

[09:41] {Threei}  stop under .50

[09:42] {Threei}  for seriously adrenalin deprived only

[09:43] {Threei}  DEBEERS SAYS IT MAY CLOSE DIAMOND MINING JOINT VENTURE IN NAMBIA FOR THREE MONTHS STARTING APRIL 1

[09:43] {Threei}  uh oh... less diamonds on the market... wat to do, what to do...

[09:45] {dino} apol, esi

[09:45] {ese} am still in UTHR dino......I think I should have taken that initial run up

[09:46] {Threei}  FAS stop can be trailed to under .50 for the balance

[09:46] {vint} good morning all

[09:46] {Threei}  vint :)

[09:47] {dino} es, i did not get it, needed coffee

[09:47] {dino} whats your entry

[09:47] {ese} .00

[09:48] {ese} stop is .25

[09:48] {Threei}  GE balance stopped

[09:48] {ese} popping up there again dino

[09:49] {dino} you short?

[09:50] {ese} long

[09:50] {Threei}  market more weakness

[09:50] {ese} sm 300

[09:51] {dino} ahh, the .25 had me, i get it

[09:51] {dino} esi tempting

[09:51] {dino} exp week, watch 5s and 0s imo

[09:51] {ese} don't know what it's doin right now

[09:51] {dino} it's coming to me

[09:52] {Threei} Long Setup:  HIG  .30 break if stays above .20

[09:52] {ese} original patter was readable but not now

[09:52] {ese} pattern

[09:52] {ese} may give something yet

[09:53] {magoo} in'

[09:54] {ese} out UTHR .72

[09:54] {ese} +.72

[09:55] {ese} had enough of it dino

[09:55] {Threei}  HIG over 1:1, scalpers are out, day traders half out and stop to .27

[09:55] {ese} not gonna complain about 210 bills good start to the day

[09:55] {magoo} out .43 TY Boss

[09:55] {Threei}  sure

[09:56] {Threei}  wtg ese

[09:56] {ese} dicy for a bit boss.....almost lost control of it

[09:56] {magoo} mkt seems uncertain here {who could blame it}

[09:56] {dino} gj es

[09:56] {ese} tks

[09:57] {dino} risky wide v sm esi l 0.75

[09:58] {Threei}  morning's good but worked for scalpers better than for holders so far

[09:59] {Threei}  hard to tell what's next, let's wait and see

[09:59] {nemo} wonder if traders aren't sure they're Wile E. Coyote after running off the cliff suspended in mid-air

[09:59] {Threei}  lol

[09:59] {Threei}  my personal feeling is, this hesitation is a trao for bears

[10:00] {nemo} define "trao" please?

[10:00] {dino} pig latin for taco

[10:00] {Threei}  trap typed with strong accent

[10:00] {nemo} thank you  I

[10:00] {nemo} I'm really slow today...probably didn't drink enough last night

[10:00] {Threei}  (or with fat fingers)

[10:01] {dino} missed apol 

[10:01] {dino} was at 64.75

[10:01] {Threei}  pullbacks are supported fairly well

[10:01] {nemo} Yeah GE hit support an bounce

[10:02] {Threei}  so did FAS

[10:02] {Threei}  both started forming new setups

[10:03] {Threei}  GE 10 break again if holding above .90

[10:03] {nemo} nas and spy look like they might be priming also

[10:03] {Threei}  FAS .60 break if holding above .50

[10:04] {ese} L ZION 1/2 .02

[10:04] {ese} on pullback

[10:04] {Threei}  BAC

[10:04] {Threei}  .40 break long

[10:04] {Threei}  stop under .30

[10:06] {dino} uthr pullback

[10:06] {dino} and spike

[10:10] {nemo} wfc vad?

[10:11] {ese} I might go long again dino at .51 uthr

[10:11] {ese} if q's start showing upward momo

[10:12] {Threei}  WFC is obvious long setup on .80 break but gotta let this weakness play out and see the support

[10:12] {Threei}  market is still downtrending

[10:13] {ese} indeed

[10:13] {Threei}  actually, pullback is severe enough on WFC to start hunting for bounce entry

[10:14] {dino} ndx getting hit

[10:14] {ese} ZION stop to break even .02

[10:14] {Threei}  .51 long if holding .45

[10:15] {ese} stopped even ZION

[10:16] {ese} bstop UTHR .51.....it's holding up against dn trending market

[10:17] {dino} apol sm l .05

[10:18] {Threei}  no go WFC

[10:19] {ese} nice dino

[10:19] {dino} ty

[10:19] {dino} waited about 30 min.

[10:19] {ese} L uthr

[10:20] {ese} good wait

[10:20] {dino} cpla, bottomed 48.25ish fri then to 51, watching it again

[10:21] {ese} out UTHR .91 1/2 lot

[10:21] {ese} +.40

[10:25] {dino} gj

[10:27] {ese} tks again

[10:27] {Threei}  why so many prints out of bounds today

[10:28] {dino} out apol .95, +.90

[10:28] {Threei} Long Setup:  RIMM  .65 break if stays above .50

[10:28] {dino} tourny starts today 3i, that is why, march madness

[10:29] {dino} tough crowd, :)

[10:29] {nemo} yeah, all the traders are watching basketball

[10:30] {magoo} in RIMM

[10:31] {Threei}  1:1 RIMM, half out or scalp

[10:32] {Threei}  if taking half, stop to under .60 for the balance

[10:32] {magoo} out RIMM .85 TY

[10:33] {Threei}  welcome

[10:33] {Threei}  over 1:2, feel free to exit in full

[10:34] {Threei}  out .99

[10:35] {Threei}  guys, someone qwith alternative quotre source, do you see also these qierd prints above and below the mnarket?

[10:35] {Threei}  and long tails on one minute chart?

[10:35] {nemo} yes

[10:36] {nemo} They're not in IB

[10:37] {fernp} in esignal there is also prints above and below market

[10:37] {Threei}  ty... seems to be streetwide then

[10:38] {Threei}  AIG, wtf

[10:38] {Threei}  is it those bonuses they give out?

[10:38] {nemo} wow

[10:40] {Threei}  AIG, FRE, FNM... I guess today is a zombie day

[10:41] {Threei}  C too

[10:41] {Threei}  vampires rising, you know

[10:41] {nemo} something must be out that we don't know about yet

[10:41] {nemo} M2M

[10:41] {nemo} has to be it

[10:42] {nemo} well, doesn't have to, but boy do they stand to benefit

[10:51] {Threei}  C... this thing really wants to go

[10:58] {nemo} ge looking like jbe?

[11:00] {ese} am outta here for an hour or so.....see you later.

[11:01] {fernp} by ese

[11:01] {Threei}  take care ese

[11:01] {Threei}  they all do, nemo

[11:02] {nemo} sorry, what?

[11:02] {Threei}  look like JBE

[11:02] {nemo} oh....memory :)

[11:02] {Threei}  yeah... aquiring daytrading memory span (which is akin to one of a moht)? :)

[11:03] {magoo} u like GE here?

[11:03] {nemo} Nah, had that for years

[11:03] {magoo} with mkt help

[11:03] {nemo} needs market I think mags

[11:03] {Threei}  mags, I can't shake off feeling that financials prfepare stron upward move

[11:04] {Threei}  but market doesn't form the bottom yet

[11:04] {magoo} understood

[11:04] {fernp} C is really strong

[11:04] {Threei}  look at FAS... chart is so tempting for .65 break

[11:04] {nemo} I'm hooked on a feelin'  I'm high on believin' that finnies are running freeeeeeeee

[11:04] {magoo} wfc trying

[11:04] {nemo} fas too

[11:05] {Threei}  C is beyond belief

[11:05] {nemo} BAC just broke hod

[11:05] {Threei}  FAS is about to also

[11:06] {nemo} spy moving up nas turnign

[11:06] {Threei}  let's try pullbacks?

[11:07] {Threei}  if we get any

[11:07] {magoo} ALERT ALERT

[11:07] {Threei}  BAC .35 - .40 area

[11:07] {magoo} went restrm..mkts went up

[11:07] {magoo} its a tell

[11:07] {Threei}  lol mags

[11:07] {Threei}  FAS .60 - .65 area

[11:11] {Threei}  as much as I don't like buying breaks on these stocks, we are not getting pullbacks anymore

[11:12] {magoo} mkts trying here

[11:14] {Threei}  FAS, .70 break, will try it if no more pullback

[11:14] {nemo} GE broke but is pulling back

[11:16] {Threei}  C... mama mia

[11:17] {magoo} C..crytinbg

[11:18] {fernp} BAC breaking hod

[11:20] {magoo} [11:13] {magoo} mkts trying here

[11:20] {Threei}  half out FAS .82

[11:21] {dino}  cpla sm l .75

[11:21] {Threei}  scalpers take it off and look for reentry

[11:21] {magoo} out TY

[11:23] {Threei}  thanks to strength of finnies, NASDAQ and NYSE switched places today

[11:23] {dino} lphi sm l .50

[11:23] {fernp} C pulling back

[11:23] {Threei}  C needs serious selloff

[11:24] {Threei}  like 2.20 - 2.30

[11:24] {fernp} ty

[11:24] {Threei}  I can't bring myself to buy it ere

[11:28] {dino} cploa stopped -.42

[11:30] {Threei}  C panic is coming it feels

[11:30] {Threei}  (US) TREASURY: WILL PURCHASE UP TO $15B IN SECURITIES BACKED BY BUSINESS LOANS

[11:34] {Threei}  anyone went for GE break?

[11:35] {Threei}  start partialling out here

[11:36] {Threei}  FAS new high, stop to under .70

[11:36] {magoo} WFC nuts

[11:40] {Threei}  (UK) UK TREASURER DARLING: REACHING AGREEMENT ON FUNDING IMF WILL HAPPEN AT THE G20 MEETING IN APRIL

[11:47] {Threei}  prez on TV

[11:55] {Threei}  C perfect bounce

[11:55] {Threei}  anyone caught it?

[12:01] {Threei}  TREASURY'S GEITHNER: ALLOWING SMALL BUSINESSES TO CARRY BACK OPERATING LOSSES FOR FIVE YEARS VERSUS TWO YEARS PRIOR

[12:03] {Threei}  not sure why there must be some strict limit on that

[12:04] {Threei}  it's not like operating losses dissolve by themselves in 2 years or 5 or whenever

[12:06] {Threei}  FAS pullback seems to be deep enough to start hunting again

[12:06] {magoo} call edntry pl

[12:06] {Threei}  want littrle pullback, holding above .60, then another strong hit on .66

[12:07] {Threei}  ok... .66 long if holding above .60

[12:08] {Threei}  and GEN 10 break

[12:08] {Threei}  if holding above .95

[12:08] {Threei}  GE

[12:10] {magoo} in ge

[12:10] {magoo} in fas'

[12:10] {dino} cpla sm l .20

[12:13] {Threei}  half out FAS

[12:15] {Threei}  stop to .64

[12:17] {pita} got few cents FAS TY - off to day job, gl

[12:17] {Threei}  take care pita

[12:22] {Threei}  Terrific Tim on TV

[12:22] {Threei}  PRESIDENT OBAMA: PURSUING EVERY LEGAL AVENUE TO BLOCK THE AIG BONUSES

[12:24] {magoo} vad..C here bounce?

[12:25] {Threei}  not very clear

[12:28] {Threei}  PRESIDENT OBAMA: PURSUING EVERY LEGAL AVENUE TO BLOCK THE AIG BONUSES, BELIEVES AIG BONUS ISSUE IS ABOUT "FUNDAMENTAL VALUES"

[12:28] {Threei}  - Obama believes the government needs more tools to protect taxpayers and the overall financial system from situations like AIG.

[12:28] {Threei}  - NY AG Cuomo also noted that he is seeking information about which individuals received bonuses at AIG. Cuomo states he plans to issue a subpoena to AIG at 4pmEST

[12:30] {Threei}  GE over 1:1

[12:30] {fernp} out ty

[12:30] {Threei}  welcome

[12:30] {Threei}  FAS out in full

[12:30] {Threei}  .82

[12:33] {magoo} out GE .14 here TY

[12:33] {Threei}  good boy GE

[12:33] {Threei}  :)

[12:37] {magoo} out FAS here .84 TY

[12:37] {Threei}  :)

[12:37] {Threei}  {--- intends to limit hiscomments to smiley faces from now on

[12:37] {Threei}  less room for mistypes

[12:38] {Threei}  and optimisim emanates from those freely

[12:47] {Threei}  GOLDMAN SACHS ECONOMIST O'NEILLL: NOT LIKELY CHINA WILL DUMP US TREASURY SECURITIES - TIMING UNCERTAIN

[12:49] {Threei}  BAC new high

[12:50] {Threei}  PREVIEW: MARCH NAHB HOUSING MARKET INDEX DUE OUT AT 1PMET

[12:50] {Threei}  **consensus expectation: 9e v 9 prior

[12:50] {Threei}  - analyst estimates range between 8 and 11

[13:00] {Threei}  *MARCH NAHB HOUSING MARKET INDEX: 9 V 9E

[13:01] {Threei}  SPOKESPERSON: AIG PLANS TO RESPOND TO NY AG CUOMO'S OFFICE

[13:02] {Threei}  really? wow

[13:02] {Threei}  we thought they wouldn't lower themselves to responding

[13:03] {dino} see what happens when you take govt "help"

[13:05] {magoo} we in anything vad?

[13:05] {Threei}  well... I have to say, it does seem a bit too much when SIG is rescued by taxpayer money yet gives out generous bonuses, using the bailout funds no less, to those same people who run it into the ground

[13:05] {Threei}  no mags

[13:05] {Threei}  sold FAS and GE

[13:06] {dino} i agree 3i, just stating this is why the banks don't want more

[13:06] {Threei}  yeah

[13:06] {Threei}  gotta keep that talent eh

[13:06] {magoo} ok..took exits there

[13:19] {nemo} GE Va

[13:19] {nemo} reak of .30?

[13:19] {nemo} geez.  GE Vad...break of .30?  then again still lunch time

[13:19] {nemo} oops

[13:21] {Threei}  yeah, I'd prefer to hunt for pullbacks

[13:21] {Threei}  at least you get more than 3-5 cents move, and the stop is tighter

[13:22] {nemo} To think or not to think????

[13:22] {Threei}  resounding no

[13:22] {nemo} Yeah, except for what, RIMM, it's basically been scalping

[13:22] {nemo} hurts

[13:22] {Threei}  well, last two plays on GE and FAS offered more than a scalp

[13:23] {Threei}  but mostly thanks to exactly that kind of entry

[13:23] {Threei}  pullbacks, tight stops

[13:23] {Threei}  ECB'S TRICHET: ECB IS IN CLOSE CONTACT WITH OTHER INSTITUTIONS

[13:23] {nemo} yeah...tight stop plays 

[13:23] {Threei}  I hope they don't mean mental ones

[13:24] {nemo} maybe they're swapping spit

[13:24] {nemo} sorry...that even viscerally disgusted me

[13:26] {Threei}  ECB'S TRICHET: EURO IS 'IRREPLACEABLE', IMPORTANT DURING DIFFICULT TIMES

[13:26] {Threei}  why do I find it hard to believe

[13:29] {Threei}  GE pullback into support

[13:31] {Threei}  in .23

[13:32] {Threei}  stop .19 or 16, depending on your trading idea here

[13:32] {magoo} in .24

[13:33] {dawg} in earlier.22 GE

[13:35] {Threei}  lol, with .22 entry you have almost 1:2 here

[13:35] {Threei}  not almost... 1;2

[13:35] {Threei}  beauty of pullback entries

[13:35] {magoo} vad..where u waiting so i can undercut :)

[13:36] {Threei}  {--- not saying

[13:36] {Threei}  scalpers offer .30

[13:36] {magoo} sheesh

[13:36] {magoo} out .33 TY

[13:36] {Threei}  :)

[13:36] {magoo} too many ty today he he

[13:36] {dawg} out .33 ty Vad great bounce call

[13:36] {Threei}  sorry

[13:37] {magoo} goes against every fiber in my being

[13:37] {Threei}  I'll try to make a few losing calls now

[13:37] {magoo} then u get "f'y" lol

[13:37] {Threei}  but that will be in tune with your natural inclinations

[13:37] {magoo} yea...grinn everytime i say it

[13:38] {Threei}  FAS .75 was same entry idea... missed it

[13:39] {magoo} read AAPL vad

[13:39] {Threei}  let's see...

[13:39] {Threei}  A...

[13:39] {Threei}  then A again...

[13:40] {Threei}  then, umm.... hmmm P?

[13:40] {magoo} OY

[13:40] {nemo} he's becoming insufferable

[13:40] {ese} hows everyone doin?

[13:40] {ese} i'm back

[13:40] {ese} everybody filthy stinking rich yet?

[13:40] {Threei}  I am torturing magoo, ese

[13:40] {ese} beauty

[13:41] {magoo} ok..took aapl .35

[13:44] {Threei}  nice spike

[13:45] {magoo} out AAPL

[13:46] {Threei}  BAC wants 7 and above, FAS 6 and above

[13:47] {nemo} pullback to .85 on FAS, now on BAC?

[13:48] {Threei}  market dependent but the general idea is this

[13:48] {Threei}  hard to tell whether we get any more pullbacks...

[13:50] {dino} cpla stop to .15\

[13:50] {dino} out .16, +.96

[13:52] {magoo} keep eye on WFC vad

[13:52] {nemo} here come the eye jokes

[13:54] {nemo} mmhhh..I was going to say, don't like the way FAS was just hanging there

[13:55] {Threei}  it's back into support

[13:55] {nemo} yep

[13:55] {Threei}  watch the market, both FAS and BAC are buyes when market reverses

[13:57] {dino} when?

06[13:58] * magoo slaps laserdave around a bit with a large trout

[13:59] {Threei}  in BAC .74

[13:59] {Threei}  in FAS .76

[14:02] {Threei}  come on things, move already

[14:05] {Threei}  I meant move UP, you two idiots

[14:05] {nemo} what i do?

[14:06] {Threei}  grrr

[14:06] {Threei}  stopped

[14:06] {nemo} stoppe

[14:07] {dawg} stopped

[14:11] {laserdave} laserdave smacks magoo with a skinny trout

06[14:12] * magoo slaps laserdave around a bit with a large trout

[14:12] {magoo} vad??

[14:12] {Threei}  hmm?

[14:13] {magoo} slap dave?

[14:13] {Threei}  nah... I am trying to mature beyond pillow fights

[14:13] {nemo} dueling pistols

[14:18] {Threei}  still feels to me like up is the way to go but finding entries here is not easy

[14:19] {nemo} in fas .72

[14:19] {dino}  ceco sm l .98

[14:24] {nemo} stopped .63

[14:32] {Threei}  a lot of indecisiveness here... waiting it out

[14:35] {dino} apol trig .00 sm l

[14:36] {dino} pulp so careful

[14:40] {magoo} vsad..GS bounce?

[14:40] {Threei}  can't tell mags

[14:40] {Threei}  need anoter pullback and higher low

[14:42] {dino} ceco stop to .38

[14:43] {dino} out ceco .38, +.40

[14:49] {dino} uthr sm l .48

[14:52] {Threei}  let's see if we can get double bottom here

[14:52] {Threei}  .55 FAS support

[14:53] {dino} uthr stoped -.28

[14:53] {Threei}  not holding but seloff very sharp

[14:54] {dino} f'ing reverse slip

[14:54] {Threei}  in .51, stop .48

[14:55] {Threei}  can I afford 3 cents stop?

[14:55] {magoo} depends..u have 200,000 shares?

[14:55] {nemo} wise-ass

[14:55] {Threei}  remember I said I was trying to outgrow pillow fights?

[14:55] {Threei}  I changed my mind

06[14:55] * Threei slaps magoo around a bit with a large trout

06[14:56] * nemo slaps Threei around a bit with a large with a concrete pillow

[14:56] {magoo} :)

[14:56] {nemo} got your back mags

[14:56] {vinod} fas in 5.47

[14:57] {magoo} ty

[14:57] {Threei}  careful vinod, keep tight stops

[14:57] {nemo} vinod...were you a motorcycle jumper in an earlier career?

[14:57] {Threei}  market is not reversing so far

[14:57] {vinod} sto is at 5.44

[14:57] {vinod} i just came in-nemo no jump

[14:59] {magoo} mkts clubbed

[14:59] {magoo} gs lows

[14:59] {vinod} wow!!!!!!!! what happen

[14:59] {nemo} FAS bouncing off morning support

[15:00] {magoo} vinod..it was breaking down

[15:00] {magoo} do not buy vads stops imo

[15:00] {Threei}  WSJ: US TREASURY TO UTILIZE ITS $30B INFUSION TO FORCE REPAYMENT OF BONUSES

[15:02] {magoo} financials getting CLUBBED

[15:03] {dino} like a baby seal

[15:03] {nemo} if FAS doesn't hold this bottom, closes gap to Friday?

[15:04] {vinod} nemo you should have told me to buy faz at 35

[15:04] {nemo} I'll make a mental note to tell you next time it's a buy

[15:04] {nemo} Sorry

[15:04] {magoo} [15:04] {vinod} nemo you should have told me to buy faz at 35

[15:04] {magoo} REALLY

[15:04] {nemo} Then again...Vad told me not to think...it's his fault

[15:05] {nemo} FAS to Friday

[15:13] {magoo} any bounce candidates lord vader?

[15:14] {i2romantis} lol

[15:15] {dino} apol stopped b/e

[15:15] {Threei}  yeah... FAZ is bounce candidadte {G}

[15:17] {nemo} well....let's go for the double bottom on FAS again!

[15:17] {Threei}  nope

[15:17] {nemo} gonna' close that gap...huh Dino?

[15:17] {Threei}  this is cascading selloff, lower lows

[15:21] {nemo} The circle is complete...FAS

[15:23] {Threei}  very nice panic

[15:23] {Threei}  let's let it settle down

[15:24] {Threei}  gotta wait out extreme fear

[15:24] {nemo} something paradoxical about the term "very nice panic"

[15:24] {Threei}  well... from a trader's point of view :)

[15:25] {Threei}  we don't want them all just to go and go

[15:25] {Threei}  gotta get some new entries

[15:25] {Threei}  and this selloff takes us there

[15:25] {nemo} Yeah, FAS was getting much too expensive

[15:29] {dino} chatter the govt soon will no let shares govt owns in banks/financials to be shorted

[15:29] {nemo} yeah, supposedly that's what's been behind the jumps today

[15:29] {Threei}  well, what was behind the drop then?

[15:30] {nemo} I was just throwing it out there for conversation

[15:30] {Threei}  I just love those explanations

[15:30] {nemo} It's a headline

[15:30] {Threei}  company announces bad earning and stock drops - they say "because of"

[15:31] {Threei}  company announces bad earning and stock goes up - they say "in spite of"

[15:31] {nemo} Oil prices rise on stocks, dollar

[15:31] {Threei}  bunch of entertainers

[15:31] {nemo} Everything is fiction

[15:32] {Threei}  if they gave it a 5 second's pause and thought, they would notice that there was no contra-announcement, yet financials reversed

[15:33] {Threei}  proving beyond reasonable doubt that original explanation for the rise was false

[15:33] {nemo} Of course, since the "news" made it all go up, maybe because it was just "news"  people decided to sell...eh

[15:34] {nemo} spaghetti method of discernment...trhow against wall, see what sticks

[15:34] {nemo} throw

[15:35] {dino} sm l uthr .70

[15:36] {Threei}  FAZ

[15:36] {Threei}  40 break long small sharea

[15:36] {Threei}  stop under .70

[15:37] {Threei}  1:1 half out or scalp

[15:37] {Threei}  1:2

[15:38] {Threei}  out in full +.70

[15:38] {Threei}  lol, too soon

[15:38] {Threei}  anyone??

[15:38] {dawg} got part of it thanks Vad

[15:38] {Threei}  full dollar from trigger

[15:38] {Threei}  dawg :)

[15:38] {vinod} yes.i have them at 40.02

[15:39] {Threei}  1 minute play

[15:39] {vinod} 0ut 40.10

[15:39] {Threei}  don't oversit vinod, end of today is very volatile

[15:39] {Threei}  good job

[15:39] {Threei}  wtg!

[15:39] {Threei}  wait... 40.10?

[15:39] {Threei}  or 41.10?

[15:39] {vinod} 41.10

[15:39] {Threei}  whew

[15:39] {Threei}  scared me :)

[15:40] {Threei}  FAZ really worth playing for more than 8 cents, lol

[15:40] {vinod} too fast to type

[15:41] {Threei}  no kidding

[15:41] {Threei}  this adrenalin-charged stock

[15:41] {Threei}  notice guys, no double bottom worked in FAS drop

[15:41] {Threei}  this is your typical cascaduing selloff

[15:41] {Threei}  not really good idea to be bottom-fishing in that

[15:43] {dino} cpla sm l .75

[15:44] {Threei}  interestingly, while FAS is red, BAC and even dog with flease known as C are solidly green

[15:44] {nemo} they've definitely given up some territory thought

[15:45] {nemo} though

[15:49] {Threei}  too bad day is over

[15:50] {Threei}  we are at the point very likely tyo produce reversal

[15:50] {Threei}  if not 10 min till the end of trading session I would go for trend reversal here

[15:51] {dino} out cpla .30, +.55

[15:55] {vinod} see you tomorrow

[15:55] {Threei}  AIG

[15:55] {Threei}  US TREASURY OFFICIAL CONFIRMS THAT US WILL ADD PROVISIONS TO $30B AID PAYMENTS TO RECOUP BONUS PAYMENTS

[15:55] {Threei}  how about:

[15:55] {Threei}  it was idiotic on our part not to have any provisions to bailout money in a first place

[15:56] {Threei}  now that we provided money with no strings attached, we are so enraged that they take money with no strings attached

[15:57] {Threei}  mags, you here?

[15:58] {nemo} low volume on the Nas

[15:59] {Threei}  and Dow?

[15:59] {nemo} 190%

[15:59] {nemo} S&P 125%

[16:00] {Threei}  okay gys

[16:00] {Threei}  thank you all

[16:00] {Threei}  havce a good evening

[16:00] {Threei}  see you tomorrow

[16:00] {vint} Thanks Vad, good evening all

[16:00] {nemo} gnite

[16:01] {dino} thx all, good times

[16:01] {Threei}  ENER

[16:02] {Threei}  Q3 GUIDANCE NO LONGER APPLICABLE DUE TO ECONOMIC ENVIRONMENT

[16:04] {Threei}  ENER getting killed