Mar 17 2009

The day felt somewhat disconnected as plays were scattered around in a random fashion, without continuous flow. Most worked out nicely though., including sizeable wins on RIMM, AMZN and FAZ.

Session Time: Tue Mar 17 00:00:00 2009

[07:38] {nemo}  anybody home?

[07:40] {KSystems} morning

[07:40] {KSystems} you rang?

[07:40] {nemo} keine anschluss an diese nummer

[07:40] {KSystems} :)

[07:40] {nemo} oder diesen?

[07:41] {nemo} keiner auch?

[08:10] {Threei}  Good morning

[08:13] {cosmo} not for ENER 

[08:14] {cosmo} ... so far

[08:15] {Threei}  too bad missed the short yesterday

[08:15] {Threei}  kind of hard to chase 2 bucks down

[08:15] {cosmo} yae... next time i have to pay better attention

[08:22] {Threei}  PALM

[08:22] {Threei}  CANACCORD ADAMS REITERATES SELL RATING AND $0 PT

[08:22] {Threei}  0???

[08:23] {Threei}  MEREDITH WHITNEY: REGIONAL BANKS MAY HELP TAKE THE PLACE OF BIG, CENTRALIZED LENDERS; BELIEVES THE "CENTRALIZED LENDING" MODEL IS DEAD

[08:23] {Threei}  {XLF}

[08:29] {Threei}  PRICE TARGET LOWERED TO $21 FROM $35 AT CREDIT SUISSE, MAINTAINS OUTPERFORM RATING

[08:30] {Threei}  FEB PRODUCER PRICE INDEX M/M: 0.1% V 0.4%E;

[08:31] {Threei}  *FEB HOUSING STARTS: 583K V 450KE; BUILDING PERMITS: 547K V 500KE

[08:31] {Threei}  - Prior Housing Starts revised from 466K to 477K

[08:31] {Threei}  - Prior Building Permits revised from 531K to 531K

[08:39] {Threei}  FAS is strengthening

[08:50] {Threei}  ENER

[08:50] {Threei}  RAYMOND JAMES CUTS ENER TO UNDERPERFORM FROM MARKET PERFORM

[08:51] {Threei}  vultures are circling

[08:52] {vinod} good morning

[08:52] {Threei}  vinod :)

[09:01] {nemo} vino :)

[09:01] {nemo} d

[09:02] {Onix} Good morning

[09:02] {fernp} Hello everybody

[09:02] {Threei}  onix, fern :)

[09:02] {magoo} morning

[09:03] {ese} morning

[09:03] {Threei}  magoo, ese :)

[09:04] {cosmo} those vulture are starting to nibble a bit on ENER 

[09:07] {Threei}  mags, crying yet that we haven't shorted ENER yesterday on guidance?

[09:08] {Threei}  [16:01] {Threei} ENER

[09:08] {Threei}  [16:02] {Threei} Q3 GUIDANCE NO LONGER APPLICABLE DUE TO ECONOMIC ENVIRONMENT

[09:08] {cosmo} hmmm

[09:09] {Threei}  market is not too jazzed about housing starts

[09:09] {vint} Good Morning all

[09:09] {Threei}  and we were told the housing is the root of the problem? fix housing and everything would be fine?

[09:09] {Threei}  vint :)

[09:09] {buyemsellem} good morning

[09:09] {Threei}  buyem :)

[09:09] {dino} gm all. it's 3-17

[09:10] {Threei}  dino :)

[09:10] {cosmo} tent sales are way up though...

[09:10] {dino} think all, -317 i have been talking about

[09:11] {dino} ok, i''l tell, my b-day

[09:11] {nemo} I'm not supposed to think Dino

[09:12] {nemo} Italian born on St. Patty's day....oy

[09:12] {dino} irish, i'm a mc

[09:12] {nemo} blasphemy

[09:13] {nemo} I'm 1/2 and 1/2

[09:13] {cosmo} St. Mc?

[09:13] {patience} happy birthday dino   :)

[09:13] {buyemsellem} happy birthday

[09:13] {nemo} so, how far over the hill are you

[09:13] {vint} dino-happy birthday!

[09:14] {dino} thx

[09:14] {tomg} good morning

[09:14] {tomg} happy birthday dino

[09:14] {vinod} Happy BD dino

[09:14] {Threei}  happy birthday dino!

[09:15] {dino} :)

[09:15] {Onix} happy birthday dino :)

[09:15] {Threei}  tom, patience, dawg :)

[09:15] {dptl} good morning....Dino Happy BD :)

[09:16] {Threei}  dp :)

[09:16] {laserdave} Happy Birthday Dino

[09:17] {Threei}  dave :)

[09:17] {magoo} vad, i scalped a lil ENER afterhrs short

[09:18] {magoo} but man, it was 18 then, 5 points later sigh

06[09:18] * magoo slaps laserdave around a bit with a large trout

[09:18] {dino} thx all

[09:19] {Threei}  well... better than I did, mags :)

[09:19] {cosmo} CLNE up

[09:19] {magoo} whats your strategy this morn vad

[09:19] {Threei}  so far, none

[09:20] {magoo} why we got to play this game every morning he he

[09:20] {Threei}  it's too unclear whether we have little pullback, the continuation of upward move

[09:20] {Threei}  or pullback is going to be much deeper

[09:20] {magoo} i men, just your underlying feeling b

[09:21] {ese} happy birthday  from me also dino.........

[09:22] {vinod} dino Try  few pints of green beer

[09:22] {dino} ty and will do

[09:23] {nemo} I remember seeing alot of processed green beer around campus the day after St. Patty's day back in college

[09:28] {Threei}  market staying red after surprizingly good housing starts is not very encouraging for the bulls

[09:29] {Threei}  I don't have clear plays for the opening

[09:29] {nemo} Weren't they primarily condos

[09:29] {ese} ener sure is getting smoked isn't it......any thoughts dino

[09:30] {Threei}  FED ANNOUNCES 2-YR DELAY OF NEW BANK CAPITAL REQUIREMENTS

[09:30] {nemo} huh?

[09:31] {pita} morning all

[09:31] {dino} nue

[09:31] {Threei}  - Efforts to respond to market crisis

[09:31] {Threei}  pita :)

[09:32] {nemo} what's the news on it dino?

[09:32] {nemo} is that nucor?

[09:33] {Threei} Long Setup:  FAS  .92 if stays above .80

[09:33] {magoo} missed

[09:33] {nemo} missed

[09:34] {dino} out esi yesterday swing, 104.45, +3.75

[09:36] {patience} very nice dino

[09:36] {vinod} fas in 4.94

[09:36] {Threei}  FED ANNOUNCES 2-YEAR DELAY OF NEW BANK CAPITAL REQUIREMENTS UNTIL MAR 31ST, 2011

[09:36] {Threei}  - Efforts to respond to market crisis; delay should help firms meet capital requirements

[09:36] {Threei}  - Limits would have burdened financial firms

[09:36] {Threei}  - Firms need to increase overall capital levels

[09:37] {dino} ty patience

[09:40] {pita} FAS?

[09:44] {Threei}  market doesn't get any firm footing

[09:44] {Threei}  not on a hunt for the bottom at the moment

[09:45] {nemo} continuation from yesterday?

[09:48] {Threei} Long Setup:  CAT  .80

[09:48] {Threei}  if stays above .70

[09:48] {dino} uthr sm l .70

[09:48] {dino} risky

[09:49] {Threei}  CAT over 1:1, half out

[09:49] {Threei}  scalpers take profit

[09:50] {Threei}  second half is stopped

[09:51] {ese} L KLAC .82 1/2

[09:52] {ese} glance away to typoe and it shoots up

[09:52] {nemo} you're complaining?

[09:53] {ese} hmmm kinda.....

[09:53] {Threei}  CSUN

[09:53] {Threei}  SIGNS 10 YEAR SOLAR CELL SALES FRAMEWORK AGREEMENT WITH ASOLA

[09:53] {nemo} oy

[09:53] {ese} out KLAC. ..02

[09:53] {ese} +.20

[09:54] {Threei}  - This non-binding framework agreement outlines the potential delivery of up to 480MW of solar cells manufactured by China Sunergy from 2009 to 2018.

[09:54] {Threei}  - Under the Framework Agreement, which remains valid from 2009 until 2018, China Sunergy may supply asola a total of 30MW of silicon cells in 2009, with 50MW thereafter for each remaining year of the 10-year agreeme{TAN}

[09:54] {dino} gj es

[09:54] {ese} tks

[09:54] {dino} nue?

[09:54] {Threei}  FEED...

[09:54] {Threei}  strong follow-up from yesterday

[09:55] {dino} or does it want 30 strike

[09:55] {ese} actually nemo....i shouldn't really type the fill ......because it moves to fast....but thats not fair to the board

[09:55] {ese} more a question of where should the focus be

[09:56] {ese} nice move by klac though

[09:56] {nemo} I understand, got a kick out of it

[09:57] {dino} out uthr .40, +.70

[09:57] {Onix} gj dino

[09:58] {dino} ty

[09:59] {ese} just looked athat dino...nice

[10:00] {Threei} Long Setup:  RIMM  .40 break

[10:00] {Threei}  stop under .25

[10:00] {nemo} missed

[10:00] {magoo} in rimm

[10:00] {dino} :) es

[10:01] {Threei}  GM CEO: REAFFIRMS THAT COMPANY CAN RESTRUCTURE OUTSIDE OF BANKRUPTCY - WSJ

[10:01] {Threei}  FDIC STAFF: RECOMMENDING SURCHARGE ON DEBT GUARANTEES TO LOWER OTHER BANKING FEES

[10:01] {Threei}  half out RIMM

[10:02] {Threei}  stop to .35

[10:04] {dino} obamination on tv

[10:04] {nemo} buy faz

[10:05] {Threei}  not sure

[10:05] {Threei}  market lost sensitivity to his appearances

[10:05] {nemo} sorry...that was tongue in cheek

[10:05] {dino} trades fast, like pulp

[10:05] {nemo} don't understand the analogy

[10:06] {Threei}  seinfield-speal

[10:06] {dino} seinfeld. george gets pulp in his eye; "pulp moves baby"

[10:06] {nemo} sorry, wasn't a focus of mine in the 90's

[10:06] {dino} on every night 10:30

[10:07] {dino} eyes on uthr again

[10:07] {Threei}  wow... blast from the past... BAMM

[10:07] {ese} L URBN 1/2 .40

[10:08] {ese} 3day high

[10:09] {ese} stop .32

[10:09] {dino} nue nice range

[10:09] {ese} changed that ....make that .29

[10:09] {Threei}  US REP FRANK: MAY BEGIN CREATION OF LEGISLATION FOR FINANCIAL REGULATION REFORM IN MAY

[10:12] {Threei}  anyone knows what it is they are sop busy with in March and April?

[10:13] {dino} nue sm l .60 risky

[10:13] {Onix} giving executives more time totake bonusses

[10:13] {dino} quarter ends all i can think of

[10:15] {ese} vad....if you get a chance could you look at urbn.....i know that you play 3 day highs....do you wait until after the breakout and possibly get in on a retracement to support or do you like to play the breakout?

[10:16] {Threei}  mostly breakout in such cases

[10:17] {nemo} good thing you moved that stop ese

[10:18] {ese} ya no kidding

[10:18] {nemo} hair of your chinny chin chin

[10:19] {ese} that one bar hit .30

[10:19] {dino} 30 bars today?

[10:19] {nemo} Dino, is that a technical comment, or your St. Patty's Day routine

[10:20] {dino} about 20 years ago

[10:20] {dino} 30 would kill me today

[10:21] {Threei}  finally RIMM

[10:21] {Threei}  out in full

[10:21] {Threei}  sure took its sweet time for the second half

[10:21] {ese} hey dino

[10:21] {ese} in liverpool last year when we went there on band tour

[10:21] {nemo} Like the joke about Seamus, the guy who died working at the brewery when he drowned in the vat.  Guys went home to tell his wife.  Funny thing, he came up 3 times for air.

[10:21] {ese} there were pub crawls every night

[10:22] {ese} and indeed some people did visit about 30 bar

[10:22] {ese} bars

[10:22] {dino} lol

[10:24] {dino} mcd has not been participating lately

[10:24] {ese} POT Confirms to cut production by additional 1.5M tonnes, brings total curtailments to 3.5M tonnes this year

[10:24] {ese} loade news event......

[10:24] {ese} loaded

[10:25] {vinod} out fas 5.08

[10:25] {Threei}  IMF OFFICIAL: NEW IMF FORECAST WILL PREDICT GLOBAL ECONOMIC CONTRACTION OF 0.6% IN 2009

[10:29] {dino} sm l uthr .50

[10:29] {Threei}  so, which financial insitution is the most hated right now?

[10:29] {dino} imf pretty otimistic

[10:29] {dino} op

[10:29] {ese} AIG

[10:29] {magoo} my personal one lol

[10:29] {Threei}  before answering impulsively "AIG"... look at the stock

[10:30] {ese} what the^%$$#@

[10:31] {nemo} don't you mean #$%%&!

[10:31] {ese} well....keep handin them bonuses out then

[10:31] {ese} yes thanks nemo for that correction

[10:31] {Threei}  uh oh

[10:31] {Threei}  US REGULATORS: INSURERS DO NOT APPEAR 'TOO BIG TOO FAIL'; POSE NO SYSTEMIC RISK

[10:31] {Threei}  {MET PRU}

[10:31] {nemo} short?

[10:32] {Threei}  CAT

[10:32] {Threei}  TO LAYOFF ADDITIONAL 2K WORKERS ACROSS COUNTRY

[10:32] {Threei}  oh really?

[10:32] {Threei}  weren't we told CAT will be ready to rehire if stimulus package passes?

[10:32] {nemo} I thought the ceo said he expected more layoffs

[10:33] {nemo} RIM consolidating ear high?

[10:33] {nemo} near

[10:33] {Threei}  during president's sale job on stimulus

[10:33] {Threei}  he, president, said that, and CAT CEO nodded

[10:33] {dino} also expected infrastructure, not welfare

[10:33] {nemo} Yeah, it was just your standard democratic spending bill with a different title

[10:34] {dino} yes

[10:34] {magoo} vad..u dump balance RIMM?

[10:34] {Threei}  [10:21] {Threei} finally RIMM

[10:34] {Threei}  [10:21] {Threei} out in full

[10:34] {Threei}  [10:21] {Threei} sure took its sweet time for the second half

[10:35] {Threei}  it starts forming 40 break

[10:35] {magoo} i exited .86

[10:35] {Threei}  beat me by two cents

[10:35] {magoo} over 40 if IF mkt resumes

[10:36] {dino} ob?

[10:36] {nemo} heheheh   http://www.fixcnbc.com

[10:37] {magoo} l rimm .82

[10:37] {dino} multifamily starts up 88%, foreclosures to rentals??

[10:37] {magoo} thinkin .15 area

[10:39] {magoo} 1:2

[10:39] {Threei}  NFLX...

[10:39] {Threei}  what is it with this stupid thing

[10:39] {magoo} good movies

[10:39] {Threei}  look at it closing in on 40

[10:41] {Threei}  and 40 break is a aunching pad for it it seems

[10:41] {magoo} out .02 RIMM

[10:41] {Threei}  let's see where it forms support

[10:42] {Threei}  and with market resumption, 40 break becomes a long trigger

[10:42] {nemo} RIMM or NFLX?

[10:42] {Threei}  NFLX

[10:42] {Threei}  half lot

[10:42] {Threei}  volatile

[10:44] {Threei}  AMZN

[10:45] {Threei}  half lot .30 break long

[10:45] {ese} out URBN .65

[10:45] {Threei}  if stays above .15

[10:45] {ese} +.23

[10:45] {nemo} blew right by

[10:45] {dino} uthr stop to .11

[10:45] {ese} howd I do chief....was in too soon maybe?

[10:46] {Threei}  URBN? no, looked just right to me

[10:46] {dino} to .17

[10:46] {Threei}  AMZN hit over 1:1

[10:46] {Threei}  NFLX stop .85

[10:47] {dino} gj es

[10:47] {Threei}  over 1:1 NFLX, half out

[10:47] {dino} to .23

[10:47] {ese} tks

[10:47] {dino} out uthr .21 slipped, +.71

[10:49] {dino} nue stop .99

[10:49] {Threei}  out NFLX balance

[10:50] {dino} out nue .99, +.39

[10:50] {dino} need coffee

[10:51] {dino} tough crowd

[10:51] {Threei}  :)

[10:51] {Threei}  AIG

[10:51] {Threei}  this thing looks like going to break 1 and explode

[10:51] {nemo} is "need coffee" a joke?

[10:51] {Threei}  just like C did

[10:51] {dino} no, i was empty

[10:52] {ese} must be there own trading firm bidding it up.....the rest of the US hates em.....

[10:53] {dino} looking for bagholders

[10:53] {magoo} out nflx here .21 TY boss

[10:53] {Threei}  welcome

[10:54] {ese} i'll bet

[10:54] {magoo} mkt feels to magoo like gonna explode up

[10:54] {magoo} i tend to be long bias thou

[10:56] {Threei}  see this increasing pressure on AIG?

[10:57] {Threei}  if it manages to break 1, I'd say it's poised for a serios move

[11:02] {nemo} feels like lunchtime already

[11:06] {nemo} what chart server Vad, mine are all over the place

[11:06] {Threei}  09:52:03 ADMIN7 --} (All): We're working on the chart issue.

[11:06] {nemo} saw that, just wondering if you had come up w/workaround

[11:07] {Threei}  lol... it's not like I have my personal datafeed

[11:07] {nemo} your a Vader!

[11:08] {nemo} you're

[11:10] {Threei}  the only topic on TV is AIG bounuses

[11:10] {Threei}  financial committee hearing on it

[11:10] {Threei}  what the...

[11:11] {Threei}  send legal guys in, see what can be done

[11:11] {Threei}  stop the hysteria

[11:11] {Threei}  and that fake outrage... "I am chocked by anger"

[11:12] {nemo} They'll keep up the performance as long as the masses are riled

[11:12] {Threei}  I swear next thing we know is someone of AIG staff dies when angry mob stampedes over people

[11:13] {Threei}  and of course it's going to be a mid-level clerk

[11:13] {dino} pullback imo

[11:17] {nemo} FAZ heading for resistance

[11:17] {Threei}  looks worth a try on .20 break

[11:18] {Threei}  needless to say, small shares

[11:18] {nemo} for adrenaline eprived, although been tame today

[11:18] {nemo} deprived

[11:20] {vinod} .20 break means 41.20?

[11:20] {nemo} yes

[11:20] {Threei}  42.20 at the moment

[11:21] {Threei}  went too low for that break to remain a valid play

[11:21] {nemo} at .80?

[11:21] {Threei}  ?

[11:22] {nemo} went too low...what support did it break?

[11:22] {Threei}  42

[11:22] {nemo} ok.

[11:23] {Threei}  and even without pronounced chart support, 40-50 cents from the break level - too far for the break to be in play still

[11:23] {pita} later all - happy hunting

[11:23] {Threei}  take care pita

[11:23] {dino} cya

[11:25] {vinod} look like market going nowhere?

[11:26] {Threei}  so far...

[11:26] {dino} uthr, nue nice pullbacks

[11:26] {Threei}  it's trying to consolidateds near the high, but breakout needs some serious mood change

[11:26] {dino} attitude readjustment week perhaps

[11:27] {nemo} options ex

[11:28] {vinod} faz did go over 42

[11:28] {nemo} adrenaline junky

[11:31] {nemo} stt VA

[11:32] {nemo} VAD

[11:33] {Threei}  NFLX just stays near the high no matter what

[11:34] {Threei}  quite amazing

[11:37] {dino} risky, sm l nue .20

[11:37] {nemo} steel ones there

[11:37] {nemo} pun intended

[11:38] {vinod} sm 1 means small 1k

[11:38] {dino} :)

[11:39] {dino} no, sm=300, hl 500, nothing 1k

[11:39] {dino} v sm=200

[11:39] {vinod} thanks

[11:39] {dino} np, sm gives wide stop, but need bigger win for 1:1

[11:39] {Threei}  DOE'S CHU: US SHOULD IMPOSE CO2 TARIFFS TO PROTECT COMPETITION

[11:39] {Threei}  huh?

[11:40] {dino} protectionism

[11:41] {nemo} RIMM going to test HOD?

[11:42] {Threei}  obviouslt

[11:43] {nemo} in hindsight now

[11:47] {dino} uthr wide range but making higher lows higher highs

[11:47] {dino} waiting at 59.50 area

[11:53] {Threei}  SENATOR WARNER: SUPPORTS GIVING LIFE INSURERS TARP FUNDS

[11:53] {dino} pretty sure we already did

[11:54] {Threei}  and now he supports it

[11:57] {dino} someone just told him he signed on last fall

[11:57] {Threei}  hey, you can't blame a man for taking a little nap

[11:58] {Threei}  US FED WILL BE PROVIDING GUIDANCE WITH REGARDS TO FED LENDING PROGRAMS AND RELATIONSHIP TO FOREIGN WORKERS

[11:58] {Threei}  say what?

[11:58] {dino} another way for protectionism

[11:58] {Threei}  what does Fed have to do with foreign workers?

[11:59] {dino} they are moving the wrong way, imo

[11:59] {Threei}  is Fed running the country now?

[11:59] {Threei}  creates legislation etc?

[12:00] {dino} ahhh corn beef and cabbage on magoo

[12:03] {dino} nue something wrong tighten to .98

[12:05] {magoo} .

[12:05] {Threei}  things stalled

[12:05] {Threei}  uncertainty of last hour or so switrched to total coma

[12:05] {magoo} eatinmg corned beef and cabage

[12:07] {dino} nue stopped -.22

[12:09] {Threei}  prez on TV soon

[12:10] {Threei}  and if my math is right, it's going to be 4th time today

[12:10] {dino} ohhh mannnnnnnnnnnn

[12:13] {Threei}  SENATOR SCHUMER (D): IF AIG DOES NOT RENEGOTIATE BONUSES, CONGRESS WILL ENACT LEGISLATION TO TAKE THE BONUSES BACK

[12:14] {Threei}  ineresting... those contracts what, don't have any performance provisions tied to bonuses?

[12:14] {dino} the other part is, how can they break contracts that were in force

[12:15] {dino} [09:55] {dino} or does it want 30 strike

[12:17] {Threei}  I have to say, this atmosphere reminds me of business times in Soviet Union very much

[12:17] {Threei}  rules changing every day, fear in the air, authorities not bound by any law

[12:17] {nemo} Tanks should start rolling any time now

[12:17] {dino} breaking contracts on a whim, because of sound bites

[12:22] {Threei}  WHITE HOUSE ADVISOR SUMMERS: WILL NOT FORCE AIG TO BREAK CONTRACTS, WILL "BE CREATIVE" TO RECOUP SPENDING - CNBC INTERVIEW

[12:23] {nemo} mug them as they come out of their offices?

[12:23] {Threei}  that's creative

[12:23] {nemo} question or statement?

[12:24] {dino} cedc l .48

[12:24] {dino} tax them

[12:26] {Threei}  - Has learned in the few months of the new administration that the magnitude of the damage done to the economy was more than anyone had estimated.

[12:26] {Threei}  - Sees no tax increases this year or next year

[12:27] {Threei}  NFLX

[12:27] {Threei}  long if breaks that big offer at .59

[12:30] {Threei}  AMZN

[12:30] {Threei}  DISCOVERY COMMUNICATIONS FILES PATENT SUIT OVER KINDLE EBOOK READER

[12:30] {Threei}  - DISCA alleges that Amazon's Kindle products infringe on its US patent{DISCA}

[12:38] {Threei}  FAS started making new highs

[12:38] {Threei}  tough read for me

[12:40] {dptl} are you in nflx Vad?

[12:40] {Threei}  yeah

[12:41] {dptl} where is your stop?

[12:41] {Threei}  under .40

[12:41] {dptl} ty

[12:43] {Threei}  would expect it to break already

[12:43] {Threei}  too apathetic

[12:44] {Threei}  moving stop to under .50

[12:46] {Threei}  this market move is really strange

[12:46] {Threei}  I mean, what is following it?

[12:46] {Threei}  see any stocks hitting new highs?

[12:47] {Onix} oil stocks chk, hal

[12:47] {Onix} vlo

[12:47] {Threei}  they are not on NASDAQ

[12:48] {Onix} uaua?

[12:48] {Onix} msft?

[12:48] {Threei}  oh... yes :)

[12:49] {Threei}  DRYS too...

[12:54] {dino} cedc stop to .59

[12:57] {dino} to .61

[12:57] {dino} stingy mode

[12:58] {Threei}  sheesh NFLX

[12:58] {Threei}  are you coming or going

[12:59] {dino} walk it up .64

[12:59] {Threei}  really stigny dino :)

[12:59] {Threei}  stingy

[13:00] {dino} to .66

[13:00] {Threei}  new record number of cruise ships in Victoria this year

[13:00] {Threei}  what recession?

[13:01] {Threei}  AIG

[13:01] {Threei}  US REP FRANK: TIME FOR GOVT TO ASSERT OWNERSHIP RIGHTS OF COMPANY, REGARDLESS OF ISSUE

[13:02] {dino} out cedc .68, +.20

[13:02] {Threei}  wtg

[13:02] {dino} ty

06[13:05] * Threei kicks NFLX in the rear

[13:06] {Threei}  AAPL 50K COMPANIES CURRENTLY IN IPHONE PROGRAMS - APPLE EVENT

[13:06] {Threei}  50K?

[13:07] {Threei}  sounds like without IPhone economy is dead

[13:12] {Threei}  01:09pm [SIRI] Ticks higher on rumor of partnership with Apple

[13:14] {Threei}  I think I confused the sides on NFLX... kicked wrong one

[13:14] {magoo} vad, hows your charts?

[13:14] {magoo} mine jnk

[13:15] {Threei}  yeah, some of them are not fixed yet

[13:16] {Threei}  FAS

[13:16] {Threei}  sudden enthusiasm

[13:16] {Threei}  DOE'S CHU: LOAN GUARANTEES ARE BEGINNING TO BE RELEASED

[13:19] {nemo} fees going up on the NAS

[13:19] {Threei}  in case financials decide to rally, let's see where WFC support is

[13:19] {Threei}  for possible 14 break

[13:20] {vinod} going higher with low volume and way over brought?

[13:21] {Threei}  I am not guessing on direction

[13:21] {Threei}  I am structuring plays for different scenarios

[13:22] {Threei}  overbought and oversold - both are in the eye of the beholder

[13:22] {nemo} beauty vad

[13:22] {Threei}  one can argue that FAS from 55 to 5 is way oversold

[13:23] {Threei}  at it was at 55 just in December

[13:24] {vinod} i will change my way of looking

[13:26] {elepet} are you in wfc?

[13:26] {Threei}  yes

[13:26] {nemo} where?

[13:26] {Threei}  [13:19] {Threei} for possible 14 break

[13:26] {Threei}  bottomed out around .90

[13:27] {magoo} in vad

[13:27] {Threei}  in retrospect, aggressive entry was better on it,

[13:27] {Threei}  it gave delay when market spiked

[13:27] {Threei}  I slept through it though

[13:28] {magoo} i was out there .09..but no fill exit

[13:28] {magoo} anbd 09 print

[13:28] {Threei}  NATIONWIDE CEO: GOVT SUPPORTED BANKS CREATING DISTORTION IN MARKET

[13:28] {Threei}  I'll say

[13:29] {Threei}  11 AIG executives leave company

[13:29] {Threei}  so now we will know how valuable they really are

[13:30] {cosmo} they're just mad because there's no bonus

[13:30] {Threei}  I assume they just want to take their money and run

[13:31] {cosmo} to where

[13:31] {Threei}  retirement?

[13:32] {Threei}  there is just no upside for them to stay

[13:33] {cosmo} on the mainland...yes

[13:34] {Threei}  WHITE HOUSE OFFICIAL: BOOSTING CO2 CAP AND TRADE REVENUE ESTIMATES

[13:34] {Threei}  heh

[13:34] {Threei}  another disaster in the making

[13:34] {cosmo} CO2?

[13:34] {Threei}  cap and trade

[13:35] {nemo} Let's throw a huge tax on a crippled economy...cool

[13:35] {Threei}  on everything and everyone

[13:36] {cosmo} CO2 is a nutrient; we would not be here without it

[13:36] {Threei}  and in doing that, let's kill motivation for alternative sources of energy to seek ways to become cheaper

[13:36] {cosmo} oh

[13:37] {cosmo} but thats suposed to be the boobie prize

[13:40] {Threei}  a bit about unintended consequences:

[13:40] {Threei}  Wells Fargo Chairman Dick Kovacevich resisted taking $25 billion in a federal direct-investment under the Troubled Asset Relief Program.

[13:40] {dino}  going to raise our utility bills big time

[13:40] {Threei}  Kovacevich said that requiring Wells to take the TARP money shut the bank out of the private capital markets. As a result, the bank had to slash its dividend to build up capital as part of its efforts to eventually repay the TARP investment.

[13:40] {cosmo} ?  ....so, we pay a CO2 tax on solar ?

[13:41] {dino} any fossil fuel burning utility must pay, they have all said they will pass the cost along to end users

[13:42] {dino} most utilities are coal fired, then gas

[13:42] {Threei}  Kovacevich, unlike many of his rivals in recent weeks, was vocal in his criticism of the TARP program.

[13:42] {Threei}  Is this America, where you do what the government asks you to do and then retroactively youre told to do more? he asked to applause from his audience.

[13:42] {Threei}  it's not just utilies dino... t's dgoing to be literally everything

[13:42] {Threei}  no good or services are produced without energy

[13:42] {Threei}  goods

[13:42] {dino} it's a huge hidden tax on everybody that lives here

[13:43] {dino} utilities are estimating 30% hiles

[13:43] {dino} hikes

[13:44] {cosmo} then there's the estimated lifetime CO2 Cumulative Exhalation tax ....for the newborn

[13:45] {dino} lol

[13:46] {dino} and of course to ease the cost of his heathcare poposal, no choice, govt decides what you need, thus shortening your life, which saves medicare/caid $ as well as social security.

[13:47] {Threei}  yeah, ask Canada how that's working out

[13:47] {dino} memories of "logans' run"

[13:47] {cosmo} and there's less CO2 too

[13:47] {nemo} did you go to carousel

[13:47] {dino} cosmo, we have solved the social security, medical, and co2 problem in 5 minutes

[13:48] {elepet} are you still in wfc?

[13:48] {Threei}  .90 was support

[13:48] {Threei}  got broken

[13:48] {Threei}  stop taken

[13:48] {nemo} a "nyet" works also :)

06[13:48] * nemo slaps nemo around a bit with a large trout

06[13:49] * nemo fratricide again

[13:49] {Threei}  dino... one more problem you guys forgot

[13:49] {Threei}  cows

[13:49] {Threei}  they belch

[13:49] {nemo} fart too

[13:49] {Threei}  that's a lot of CO2

[13:49] {nemo} piss poop

[13:49] {cosmo} at both ends too

[13:49] {nemo} eat

[13:49] {nemo} drink

[13:49] {nemo} make noise

[13:50] {nemo} look at all those things they can tax

[13:50] {cosmo} cattle diapers gonna be big

[13:50] {nemo} I ain't puttin' em on

[13:50] {dino} eat meat, die younger, see it is very simple

[13:51] {Threei}  this starts looking like the beginning of reversal similar to yreesterday's

[13:51] {nemo} which means...it won't be?

[13:51] {dino} contra hour so.......

[13:51] {Threei} Short Setup: CAT  .25

[13:51] {Threei}  if stays below .35

[13:51] {dino} thinking qid

[13:52] {Threei}  FAZ looks attractive too

[13:52] {dino} ok sm l qid .20

[13:53] {Threei}  .20 break, small shares

[13:54] {cosmo} FEED?

[13:55] {cosmo} testing 2.25

[13:57] {Threei}  FAZ goes over 41

[13:58] {vinod} in FAZ  40.20

[13:58] {dino} out .50 qid +.30

[13:59] {Threei}  volatility is tough to handle on FAZ

[13:59] {vinod} out 40.60 1K

[13:59] {dino} gj

[14:00] {dino} yeah, on faz, us old guys get confused

[14:02] {nemo} wfc building a ascending triangle

[14:03] {Threei}  ?

[14:03] {Threei}  I don't see it

[14:04] {Threei}  BAC

[14:04] {Threei}  MOODY'S PLACES FINANCIAL PRODUCTS DIVISION RATINGS ON REVIEW FOR POSSIBLE DOWNGRADE

[14:04] {magoo} out 41 TY

[14:04] {Threei}  here is my 41 on FAZ

[14:04] {magoo} [14:04] {magoo} out 41 TY

06[14:04] * Threei slaps magoo around a bit with a large roll of cash

[14:05] {vinod} i got out too soon

[14:05] {Threei}  that was decent scalp

[14:06] {Threei}  if you feel larger trneding move is coming, partial out

[14:06] {vinod} i am little scare with it

[14:06] {Threei}  trail stop and let it trade

[14:06] {vinod} o.k

[14:06] {Threei}  no wonder, this IS a scary stock

[14:06] {magoo} i not afraid he he

[14:07] {magoo} famous last words

[14:07] {Threei}  lol

[14:07] {vinod} you guys are pro

[14:07] {Threei}  I think we spotted market trend reversal just in time for the right play

[14:09] {dino} live by the sword.....

[14:19] {Threei}  FEED is impossible to read technically... momo play

[14:20] {magoo} rimm powered up

[14:20] {nemo} yeah

[14:21] {dino} re:feed, use the coin rule

[14:22] {Threei}  AMZN lost its mind

[14:23] {_skylan8} any thoughts up or down in to close

[14:23] {Threei}  really can't tell today

[14:24] {Threei}  every turn is good for like 5 minutes

[14:26] {cosmo} feed salmon i say

[14:26] {Threei}  is it farmed salmon?

[14:27] {cosmo} sorry ...its the regs.

[14:27] {Threei}  MS

[14:27] {Threei}  US SENATOR MENENDEZ: ASKING TREASURY DEPT TO STOP $3B IN RETENTION BONUSES AT THE COMAPNY

[14:28] {Threei}  new big thing eh?

[14:28] {dawg} do you feel like CAT is still a short on break of .25 VAD? 

[14:28] {Threei}  no

[14:29] {dawg} OK ty

[14:29] {Threei}  it may work of course if market drops

[14:29] {Threei}  but that's not a setup I'd play

[14:29] {dawg} staying away then ty

[14:29] {nemo} what's wrong with the setup, it's relationship to the market today?

[14:30] {Threei}  there is no setup at all

[14:30] {cosmo} .....but there are no bonuses to even retrive when they run away like that

[14:30] {Threei}  look at its chart...

[14:30] {dptl} have a good evening all

[14:30] {Threei}  there is just plain drop with market, no trigger, no resistance, no consolidation

[14:30] {Threei}  take care dp

[14:31] {dino} l8r dp

[14:31] {dino} skyfan, i'll bet down -40s

[14:32] {Threei}  more and more looks like down, I agree

[14:32] {_skylan8} ok will see

[14:33] {dino} a beer on it

[14:33] {dino} if wrong, magoo will drink it for you

[14:34] {vinod} vad-when i am going to get all books, soon?

[14:35] {Threei}  they are shipped

[14:35] {vinod} thanks now i am going to be a pro

[14:35] {Threei}  takes 5-10 business days

[14:35] {nemo} Vinod, we live in the same state...it took a little while

[14:36] {vinod} we should get together for a drink nemo

[14:36] {nemo} I'll always get together for a drink

[14:37] {vinod} by the way i know zero about chart reading

[14:37] {nemo} arguably, the same goes for me

[14:37] {dino} don't worry as vad said 5-10 days you will be a pro

[14:37] {Threei}  umm

[14:37] {Threei}  lol

[14:37] {nemo} guaranteed!

[14:37] {dino} 14:35] {vinod} thanks now i am going to be a pro

[14:37] {dino} [14:35] {Threei}  takes 5-10 business days

[14:38] {cosmo} astrology?

[14:38] {Threei}  I meant delivery times of course... but that was funny dino

[14:38] {dino} :)

[14:38] {nemo} dino and his blarney

[14:39] {dino} trying to distract myself from ruining a good day

[14:43] {Threei}  see, 10 minutes and now it looks like up

[14:43] {Threei}  lol

[14:43] {nemo} damn market manipulators...

[14:44] {magoo} beer???? beer??

[14:44] {Threei}  that's some headline:

[14:44] {Threei}  AAPL

[14:44] {Threei}  "NOTHING TO ANNOUNCE TODAY" REGARDING NETBOOK OR NEW IPHONE HARDWARE

[14:45] {magoo} [14:44] {&Threei}  that's some headline:

[14:45] {magoo} roflol

[14:50] {Threei}  AMZN is bumping on day's high

[14:50] {Threei}  .75 break long

[14:50] {Threei}  if stays bove .80

[14:50] {Threei}  .60

[14:51] {dino} feels like the elephants are chasing performance

[14:52] {nemo} why .60 Vad ma in Bollinger band?

[14:53] {dino} hod's

[14:53] {Threei}  over 1:1 in a hurry

[14:53] {nemo} missed it while typing to you...ahhhh

[14:53] {Threei}  man... your prioritiees

[14:53] {vinod} missed it

[14:53] {Threei}  stock is moving toward the trigger, and tyou are asking a question that can wait until it's over :)

[14:54] {jmb} Thanks Vad

[14:54] {Threei}  :)

[14:54] {Threei}  stock retreated a few times after probing above .7o, held above .64-.65 ech time,

[14:55] {Threei}  mid line of BBs came into .60,

[14:55] {Threei}  big offer appeared at .75

[14:55] {Threei}  jujst what I like to see for a break

[14:55] {nemo} ty

[14:55] {Threei}  clean setup

[14:58] {Threei}  MS

[14:58] {Threei}  RETENTION PROGRAM FOR BROKERS IN JV WITH CITIGROUP IS 'NOT A BONUS'

[14:58] {Threei}  frikin circus

[14:59] {Threei}  who country stopped worrying about realk issues and focused on bounuses

[14:59] {Threei}  who = whole

[15:01] {dino} keep this up i'll be moving to canada

[15:01] {Threei}  you may want to rethink that

[15:01] {Threei}  we are so left of centre, you have kong way to go to catch up with us

[15:02] {Threei}  although you make giant steps

[15:02] {dino} lol

[15:02] {dino} then jamaica it is

[15:02] {Threei}  yeah, at least weather is nicert

[15:03] {Threei}  and cheap rum

[15:03] {dino} cheap everything

[15:04] {Threei}  find nice quiet 3rd world country with functioning banking system and internet, and you are golden

[15:04] {Threei}  tradem make 30 bucks a day

[15:04] {Threei}  be a rich man {G}

[15:05] {Threei}  and if you make 150/day...

[15:05] {Threei}  RETENTION PROGRAM FOR BROKERS IN JV WITH CITIGROUP IS 'NOT A BONUS'; AWARDS ARE NECESSARY DUE TO 'POACHING' BY RIVALS

[15:05] {Threei}  - Notes that the costs of such retention payments are covered by operating revenue and not TARP capital{C XLF GS}

[15:06] {cosmo} but not by any kind of 'moral imparative' ....right?

[15:07] {cosmo} k....i'll get a grip

[15:07] {nemo} well, wouldn't operating revenue need to go to capital if they didn't have the tarp?  what BS

[15:08] {Threei} Long Setup:  RIMM  .10 if holding above 41

[15:09] {nemo} too fast today

[15:09] {Threei}  BAC CEO: REITERATES 2009 WILL BE PROFITABLE - NEWSPAPER INTERVIEW

[15:09] {dino} lphi l .69

[15:11] {nemo} buy back in here Va?

[15:11] {nemo} Vad?

[15:12] {dino} thats the problem nemo, the big guys forgot accounting 101

[15:12] {Threei}  hmmm

[15:13] {Threei}  ys RIMM{ same condition

[15:13] {Threei}  yes

[15:15] {nemo} stopped or no printed below 41?

[15:15] {Threei}  ?

[15:15] {Threei}  it never set up

[15:15] {Threei}  and by going under 41 it invalidated

[15:15] {dino} lphi stop to .83

[15:16] {dino} to .86

[15:16] {nemo} I see, completely new set up after the first triggered?

[15:16] {Threei}  if makes couple more moves between

[15:16] {dino} to .89

[15:16] {Threei}  41 aND 41.10, WILL BE NEW SETUP AGAIN

[15:16] {Threei}  oops

[15:16] {dino} out slipped ave .86, +.17

[15:16] {Threei}  that's what I meant when said "same condition"

[15:17] {nemo} yes, understand.  You were in got stopped out, because I didn't get in reset the trade

[15:17] {Threei}  huh?

[15:17] {Threei}  I am totally lost

[15:18] {nemo} we'll skip it

[15:18] {Threei}  first trigger worked as it went over 1:1

[15:18] {nemo} Yes, I missed it.  

[15:19] {nemo} It came back below .10 I asked if could buy then

[15:19] {nemo} I thought from what you typed, had to set up again

[15:20] {nemo} Anyway...gotta' go

[15:20] {dino} ahhh nemo, you can buy wherever you like as long as you keep your stop

[15:23] {dino} hmmm, new pattern one day down/week

[15:23] {dino} nahhhh

[15:25] {Threei} Long Setup:  RIMM  .20 break if stays above .10

[15:25] {magoo} VADDDDDDDDDDDDDD

[15:25] {Threei}  what??

[15:26] {magoo} i need 200 bux here into bell...get on it please{or u could be lazy and just wire it into my acct :)}

[15:26] {Threei}  sigh

[15:26] {Threei}  why 200?

[15:28] {Threei}  CEO: REITERATES 2009 WILL BE PROFITABLE - NEWSPAPER INTERVIEW

[15:28] {Threei}  sorry. wrong one

[15:28] {Threei}  US HOUSE SPEAKER PELOSI: HOPES TO BRING LEGISLATION ON AIG BONUSES TO FLOOR THIS WEEK

[15:28] {Threei}  yeah, let's do that

[15:28] {Threei}  RIMM setup is valid again

[15:29] {Threei}  and invcalidated again

[15:30] {Threei}  ECB'S WEBER: CONCERNS ABOUT DEFAULTS AMONG EMU MEMBERS ARE UNFOUNDED

[15:30] {Threei}  ok... who's first to default?

[15:34] {dino} yeah that sounds familiar

[15:35] {dino} sounds like california

[15:35] {Threei}  and all the banks that "didn'ty need money and had enough liquidity"

[15:37] {Threei}  listening to these guys on TV,

[15:38] {Threei}  you get total impression that these executives of AIG brought the country to this state

[15:38] {Threei}  nice bait and switch

[15:38] {Threei}  real culprits grab ast the opportunity to find scapegoats

[15:40] {dino} swing, hl rick .95 stop 52 wk low

[15:43] {dino} cedc l .69

[15:43] {Threei}  how's NYSE volume?

[15:44] {Threei}  UPDATE: REP FRANK MAY INTRODUCE BILL TO REVAMP THE GSES - WSJ

[15:44] {Threei}  yup

[15:45] {Threei}  let the one who broke it fix it

[15:45] {dino} indeed

[15:45] {Threei}  just don't wonder what happened when it's not working again

[15:46] {Threei}  US REP SUTTON (D) PROPOSING TO OFFER $5K TO PURCHASE NEW CAR

[15:47] {Threei}  I think I proposed that in November

[15:47] {dino} there's a tax rebate on the sales tax now

[15:48] {Threei}  FEED... if market rally continues, there is not much between here and 4

[15:49] {Threei}  it stages sharp pullbacks sometimes

[15:49] {Threei}  see if we get one for swing trade entry

[15:50] {dino} cedcc stop to flat

[15:52] {dino} to .77

[15:52] {Threei}  quite a come back

[15:52] {Threei}  market, FAS

[15:53] {Threei}  too many people bhuried this rally after Fri pullback

[15:53] {dino} out .77, +.08

[15:53] {dino} thats a rap, got lucky, 8/9

[15:54] {Threei}  sorry, Monday pullback

[15:54] {Onix} gj dino :)

[15:55] {dino} thx

[15:55] {Threei}  feels like tomorrow we are likely to be back in bullish mode, buying pullbacks

[15:55] {Threei}  maybe even breakouts

[15:55] {dino} it is easier that way, imo

[15:56] {patience} triple witching this week

[15:56] {dino} due for a 2% move this week, w/expiration, most likely down

[15:59] {Threei}  FAS ginishes at the high, and actually approaches Mon high

[15:59] {Threei}  bodes well for rally continuation

[15:59] {Threei}  ok guys

[15:59] {Threei}  thank you all

[15:59] {Threei}  have a good evening

[15:59] {Threei}  see you tomorrow

[16:00] {vint} good evening all

[16:00] {patience} hey dino, have fun today with the birthday beer

[16:00] {dino} ty

[16:00] {Threei}  WFC

[16:00] {Threei}  PROVIDES NOTICE OF REMARKETING OF DEBENTURES

[16:00] {Threei}  no idea what it means

[16:00] {dino} bonds

[16:05] {Threei}  ADBE

[16:05] {Threei}  REPORTS Q1 $0.45 V $0.44E, R$786M V $784.1ME

[16:05] {Threei}  - Guides Q2 $0.31-0.38 v $0.35e, R$675-725M v $694.4Me

[16:07] {Threei}  anyone paid atention?

[16:08] {Threei}  easy 50-60 cents

[16:08] {magoo} well...guides lower

[16:08] {Threei}  ?

[16:09] {Threei}  it doesn't

[16:09] {Threei}  guidance range is around esdtimates

[16:09] {magoo}  R$675-725M v $694.4Me

[16:09] {Threei}  how is it lower?

[16:09] {magoo} oh shuit

[16:09] {magoo} AGAIN..sorry

06[16:09] * Threei sends magoo to Reading Comprehension 101

[16:10] {dino} just kick him 3i

[16:11] {Threei}  I thought of it

[16:11] {Threei}  then decided to leave some pleasure for tomorrow