Apr 02 2009
The Bahamas trip and conference were smashing. As much as I tried to take it easy today, it was hard not to profit from this day. 1 or 3 small stops, and 6-7 winners. DRYS, BAC, RIMM, CAT, JNPR, GS... things just worked.
Session Start: Thu Apr 02 02:40:26 2009
[07:35] {nemo} anybody home?
[08:35] {fernp} Hello everybody
[08:35] {nemo} good morning
[08:35] {pita} hi all
[08:35] {Threei} Good morning!'
[08:35] {nemo} there you are
[08:35] {pita} welcome home Vad
[08:36] {Threei} thank you
[08:36] {Threei} how is trading?
[08:37] {pita} tentative on my own.........
[08:38] {pita} but finished positive
[08:38] {dptl} good morning
[08:39] {Threei} dp :)
[08:39] {dptl} Hey Vad....so....how was it?
[08:39] {Threei} beyond wildsest imagination
[08:40] {dptl} i thought so :)
[08:41] {Threei} beaches are amazing
[08:41] {Threei} water color is from outer space
[08:41] {Threei} oh, and audience liked my sessions
[08:42] {dptl} nice...:)
[08:44] {Threei} that was somewhat unusual audfience for me
[08:44] {dptl} all drunk?
[08:44] {KSystems} UNusual, dp
[08:44] {Threei} not strictly daytrading crowd, rather people from long term/investment circles, hit by last couple years developments
[08:45] {Threei} and wanting to move to self-management
[08:45] {Threei} so I needed to do some serious transitioning work
[08:47] {Threei} FAZ 52 week lows
[08:48] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: REITERATES SUPPORT FOR CREATION OF NEW CURRENCY, NEW CURRENCY MAY BE LINKED TO GOLD
[08:48] {nemo} Kettle 1 please
[08:50] {pita} leave the bottle
[08:50] {magoo} morning
[08:50] {Threei} magoo :)
[08:51] {Threei} (US) FASB: NEW GUIDANCE TO BE EFFECTIVE Q2 2009
[08:51] {magoo} hey vad:) how was trip?
[08:52] {Threei} beautiful in more ways than I could list
[08:52] {nemo} we are in q2, FAS starting a selloff
[08:52] {Threei} I guess market wanted immediate?
[08:52] {nemo} eh...coming right back, they just figured out it is q2
[08:52] {magoo} great to here vad
[08:53] {magoo} room really missed ya
[08:53] {magoo} heads up though..its been very jerky still
[08:53] {Threei} well, let me ease in
[08:53] {magoo} yea
[08:53] {Threei} got about 5 hours of sleep after the plane
[08:54] {Threei} 4 is more like it actually
[08:54] {vinod} GM to all
[08:54] {magoo} let me ask this..........
[08:55] {Threei} vinod :)
[08:56] {magoo} are u sober he he?
[08:56] {Threei} yeah... but sleep deprivation will do the dame damage :)
[09:00] {cosmo} dame?
[09:01] {larisa} good morning :)
[09:01] {Threei} cosmo, larisa :)
[09:01] {larisa} welcome back :)
[09:01] {magoo} fasb voted to relax mark-to-mkt accting
[09:01] {fernp} welcome back Vad
[09:02] {cosmo} 3i,lars:)
[09:02] {Threei} thank you :)
[09:02] {larisa} cosmo :)
[09:03] {magoo} i believe RIMM reports tonite
[09:06] {cosmo} ... a gold backed world currency?
[09:06] {cosmo} hmmm
[09:06] {magoo} sounds likr roman empire he he
[09:07] {cosmo} hmm
[09:07] {cosmo} i wonder what Ron Paul thinks about that
[09:08] {ese} weary traveller....welcome back......
[09:08] {Threei} ese :)
[09:09] {Threei} G20 DRAFT: DRAFT TEXT IN LINE WITH EXPECTATIONS
[09:09] {Threei} - To channel $750B to IMF
[09:09] {Threei} - To channel $100B to WB
[09:09] {Threei} - Calls for registration of all hedge funds
[09:09] {Threei} - Regulators globally should consider the effect of pay practices
[09:13] {cosmo} use dubloon coins maybe
[09:14] {Threei} anything about market behavior over last few days I should be aware about?
[09:16] {larisa} narrow ranges with spikes both ways. yest a little better
[09:17] {ese} don't know about the market vad....but we've been behaving badly...all off us...sory bout that
[09:18] {Threei} that's quite alright, as long as no one complains
[09:18] {Threei} hope you all enjoyed it
[09:18] {ese} we miss ya....
[09:18] {Threei} this I find hard to believe
[09:19] {ese} voice of reason.....mags and i got into a quagmire with APOL yesterday from which there was no return
[09:20] {cosmo} CMCSA
[09:20] {ese} it took us down swingin though....we didn't go down without a fight
[09:21] {KSystems} Hey everybody, are there any skydivers among you? If so, please say something :-)
[09:21] {ese} would like too but my wife wll not allow it
[09:22] {i2romantis} morning all, welcome back, Vad! we missed you!
[09:22] {Threei} hi i2r, thank you
[09:24] {Threei} FASB SPOKESMAN: NO VOTE YET ON MARK-TO-MARKET ACCOUNTING
[09:24] {Threei} headline bombardment continues?
[09:25] {Threei} okay guys, game plan is: upward bias, pullback entries
[09:26] {nemo} banks keep moving up
[09:26] {pita} watching?
[09:26] {Threei} and I will try to take it easy in order to make sure I get a feel for the market instead of jumping right in and doing damage
[09:26] {Threei} no matter how clear that bahamian water is, it pulls a curtain over one's eyes
[09:26] {Threei} usual suspects pita
[09:26] {Threei} FAS
[09:26] {Threei} BAC
[09:26] {Threei} WFC
[09:27] {Threei} STT needs some serious pullback
[09:27] {Threei} RIMM
[09:29] {Threei} DRYS... maybe there is life on this planet
[09:29] {Threei} pre-market chart shapes up as 5.50 break long for it
[09:29] {Threei} with stop under 5.30
[09:29] {Threei} probably too risky for me right now
[09:30] {nemo} getting really volatile
[09:30] {Threei} but if consolidates a little close to .50, will be valid trade
[09:32] {Threei} Long Setup: DRYS .50 break if stays above .30 - .35 zone
[09:33] {magoo} missed
[09:33] {nemo} that broke too fast
[09:33] {fernp} too fast
[09:33] {nemo} all those orders at .50 then bamm!
[09:33] {_poisonivy0} wow good call starting to like this chat room lol
[09:34] {Threei} see if gives you a pullback for entry
[09:34] {nemo} Vad's like that
[09:34] {_poisonivy0} :-)
[09:34] {Threei} FAS pullback starts looking more interesting
[09:34] {magoo} ok..in .54
[09:34] {Threei} want a bit more though
[09:35] {nemo} BAC Vad
[09:35] {fernp} BAC pulling back too
[09:36] {Threei} BAC, I'd like to see a few oscillations between .60 and .65, then .65 break for entry
[09:36] {magoo} out ,68 TY BOSS
[09:36] {Threei} DRYS 1:1, half out
[09:36] {Threei} or scalp of course if you feel like safe profit
[09:37] {_poisonivy0} do you boys spreadbet on this or trade shares?
[09:37] {Threei} if taking half, stop for the balance is trailed to under 5.45
[09:37] {nemo} in BAC
[09:37] {Threei} shares, poison
[09:37] {Threei} we are very simpleminded creatures
[09:38] {_poisonivy0} lol
[09:38] {Threei} nemo, it lost .60 for a few shakes of lamb tail...
[09:38] {Threei} doesn't fully invalidfate the play, but makes it less confidfent
[09:39] {nemo} Hell then I'm out
[09:39] {Threei} hard to tell, really
[09:39] {Threei} my strategy for such case would be half out
[09:39] {nemo} With announcements coming, why screw around
[09:39] {Threei} more to reduce the risk than to secure profit
[09:40] {Threei} as Bahamas conference head said... it's all about buying and selling risk
[09:40] {magoo} rimm getting interesting
[09:41] {magoo} not in
[09:41] {magoo} im watchoing SPY
[09:41] {Threei} watching BAC for possible double bottom
[09:42] {Threei} holding .60 and breaking .70 would be confirmation
[09:42] {magoo} l rimm .30
[09:42] {Threei} .57 is closest support, so if market/BAC start upticking, aggressive entry would be about here with stop .55
[09:43] {magoo} out .55 TY vad
[09:43] {wulff} DRYS pulback
[09:43] {Threei} pre-emptive thank you?
[09:44] {magoo} yup
[09:44] {magoo} RIMM was beauty
[09:44] {magoo} anyone}??
[09:44] {Threei} if you took BAC around .63 -.65, keep .55 stop still, trail it to .59 when it breaks .70
[09:44] {Threei} if you are regular type of entry, buy .70 break with stop under .60
[09:45] {nemo} fas Vad
[09:45] {magoo} WFC vad..keep on on it
[09:45] {magoo} mover big time
[09:45] {magoo} in bac btw
[09:45] {Threei} half out BAC here for aggresive entry
[09:45] {nemo} in BAC
[09:46] {Threei} WFC pretty much played out by the same scenario, I just want tp play with slower ones for now
[09:47] {fernp} out BAC TY
[09:47] {Threei} fern :)
[09:48] {magoo} RIMM doing it
[09:48] {pita} ty bac
[09:49] {Threei} pita :)
[09:49] {Threei} ECB'S STARK: MAY POLICY MEETING MIGHT BE THE RIGHT TIME TO DECIDE ON NON-CONVENTIONAL STEPS
[09:49] {magoo} vad..STT look
[09:49] {magoo} bouncer??
[09:50] {Threei} not sure, something is not exactly right with this one
[09:51] {pita} reload bac?
[09:52] {Threei} not yet
[09:52] {Threei} we need it to establish range to break
[09:52] {Threei} for instance, .65-.70
[09:53] {Threei} JNPR...
[09:53] {Threei} looks salmonish to me
[09:54] {magoo} long JPM .20
[09:54] {magoo} duh
[09:54] {magoo} .10
[09:54] {magoo} i took STT .20
[09:54] {magoo} vad
[09:55] {cosmo} rally
[09:55] {Threei} so, you want my approval or what? :)
[09:55] {Threei} market has already approved your entry
[09:56] {Threei} Long Setup: JNPR .50 if holding above .40
[09:57] {_poisonivy0} ^^ does this mean buy once hits .40 and hold till .50
[09:57] {magoo} out STT ,66
[09:57] {magoo} still in jpm
[09:58] {Threei} no poison
[09:58] {magoo} watching WFC big time
[09:58] {nemo} breaks 50
[09:58] {Threei} buy if it hits .50 while not going lower than .40
[09:58] {Threei} WFC mags,
[09:58] {Threei} aggressive entry if market spikes
[09:59] {Threei} ENER
[09:59] {Threei} HEARING TAKEOVER CHATTER WITH FIRST SOLAR POSSIBLE BIDDER
[09:59] {Threei} {FSLR}
[09:59] {magoo} if mkt runs it will go 17 vad
[10:00] {_poisonivy0} tnks
[10:00] {Threei} *FEB FACTORY ORDERS: 1.8% V 1.5%E
[10:00] {Threei} if ou toom WFC aggressively, stop is .85
[10:00] {magoo} in yes
[10:00] {nemo} BAC break of .80 Vad
[10:01] {Threei} EX CHAIRMAN GREENBERG: US GOVT PLAN FOR AIG HAS FAILED - CONGRESSIONAL TESTIMONY
06[10:04] * Threei slaps laserdave around a bit with a large cold glass of bahama-mama
[10:09] {magoo} sropped jpm
[10:09] {nemo} if BAC breaches .60 short?
[10:09] {Threei} can't tell yet
[10:09] {fernp} JNPR is still valid, Vad?
[10:09] {Threei} market is hesitating
[10:09] {vint} good morning all
[10:10] {Threei} vint :)
[10:10] {Threei} I think so fern, just needxs confidence to return to the market for a strong bullish move
[10:10] {fernp} ok
[10:12] {nemo} jnpr invalidated
[10:13] {fernp} yeah, lost .40
[10:13] {Threei} yeah, let's leave it be
[10:18] {Threei} RIMM
[10:18] {Threei} strange weakness
[10:18] {Threei} market makes new highs
[10:18] {Threei} short canddiate on .50 break
[10:21] {Threei} STEM
[10:21] {Threei} HEARING VAGUE CHATTER THAT STRENGTH BEING ATTRIBUTED TO COLLABORATION RUMORS
[10:21] {Threei} - Rumored that Pfizer has been put out as name interestd in JV{PFE}
[10:22] {nemo} possible C&H on BAC for short?
[10:22] {Threei} yeah, starts looking this way
[10:23] {nemo} I can hear Dino's "gap close" ringing in my ears
[10:24] {nemo} indexes look like they want up though
[10:25] {Threei} cover half RIMM who got it
[10:25] {Threei} aiming to cover the balance around .15
[10:26] {Threei} stop .55
[10:27] {Threei} did I get too greedy on the RIMM balance?
[10:28] {nemo} yeah
[10:28] {Threei} oh well
[10:28] {nemo} just this one time....
[10:29] {Threei} BAC 1:1, nemo
[10:31] {Threei} okay guys, so far so good
[10:31] {Threei} 3 or 4 calls worked, WFC didn't
[10:32] {wulff} gals
[10:32] {wulff} ?
[10:32] {Threei} gals too
[10:32] {Threei} not too shabby for a severe sleep deprivation
[10:32] {wulff} not me, however
[10:33] {Threei} US AND EU FINANCIAL REGULATORS HAVE AGREED TO CAPITAL FLOOR LEVEL FOR BANKS -WSJ
[10:33] {Threei} meaning, uniform leverage for fractional reserve?
[10:34] {Threei} nothing's wrong with that if so
[10:35] {nemo} FAS might be bottoming
[10:37] {Threei} Long Setup: DRYS .51
[10:37] {Threei} stop for hard core scalpers .44, for the rest .39
[10:38] {nemo} in
[10:39] {nemo} ooh monster order @ 52
[10:39] {nemo} gone
[10:39] {Threei} hmm?
[10:39] {Threei} there are monster orders on it everywhere
[10:39] {nemo} there was a big order @ .52 on drys, now gone
[10:40] {Threei} (US) SENATORS SEND LETTER TO SEC ASKING FOR CLEAR REGULATION REGARDING NAKED SHORTS AND ABUSIVE SELLING
[10:40] {Threei} - Letter drafted by Senators Kaufman, Tester, Levin, Isakson, Chambliss and Spector
[10:40] {Threei} - Seek clear ban on naked short selling and further regulation on abusive short selling
[10:40] {Threei} - Seek regulation that addresses the need for an uptick rule along with pre-borrowment requirments
[10:40] {_poisonivy0} the market 1 dodgey plave loll
[10:40] {_poisonivy0} markets*
[10:41] {Threei} (US) OBAMA ADMINISTRATION IS DEVELOPING A HEDGE FUND TO MANAGE $500B IN TOXIC BANK ASSETS
[10:41] {Threei} is there any kind of business government is not in yet?
[10:41] {Threei} banking, insurance, hedge funds, bodyshop...
[10:42] {Threei} psychotherapy
[10:42] {cosmo} infrastructure?
[10:43] {Threei} nice spike FAS
[10:44] {Threei} let's see if it gives us a pullback
[10:44] {Threei} I'd interested closer to .55
[10:46] {wulff} took JNPR .50
[10:46] {Threei} you are at 1:1 then
[10:47] {wulff} yup
[10:48] {magoo} what is this 1:1 of which u speak?
[10:48] {Threei} wake up DRYS, what's with this coma
06[10:48] * Threei slaps magoo around a bit with a large Master Profit Plan
[10:48] {nemo} mags: original on JNPR was .50 break stop .40 invalimudated but Wulff picked it up on range reestablishment
[10:49] {magoo} :)
[10:49] {Threei} invalimudat {--- I like the word
[10:49] {Threei} invalimudated
[10:54] {fernp} DRYS is in coma
[10:54] {Threei} pretty much
[10:55] {nemo} out DRYS
[10:55] {Threei} market pulling back on low volume
[10:55] {Threei} probably one more upward thrust is in order
[10:57] {Threei} life all but disappeared from the market
[10:57] {Threei} let's talk about bahamian beaches?
[10:58] {Threei} REMINDER: TREASURY WILL MAKE IT ANNOUNCEMENT FOR THE 10-YEAR NOTE TIPS OFFERING AROUND 11:00PM
[10:58] {i2romantis} yes, how were the beaches?
[10:59] {Threei} phantastik
[11:00] {Threei} very fine white sand
[11:00] {vint} did u miss trading?
[11:00] {Threei} U.S. TREASURY TO SELL $6B IN 10 YEAR TIPS
[11:00] {Threei} nah, I am not THAT addicted
[11:01] {Threei} some very funny looking fish around
[11:01] {nemo} Gold or miners might be a buy if that auction doesn't go well
[11:01] {Threei} (US) FASB ADOPTS VOTES TO ADOPT MARK-TO-MARKET CHANGES
[11:02] {Threei} hmm?
[11:02] {Threei} is it Enlgish?
[11:02] {wulff} JNPR survived the .50 test
[11:02] {Threei} yes wulff... classic
[11:02] {Threei} former resistance, new support...
[11:03] {wulff} touched .51
[11:04] {nemo} I wonder if M2M changes are irrelevant in it doesn't change the quality of the assets, just the price on the "for sale" sign.
[11:04] {wulff} is 17 too greedy?
[11:06] {Threei} pretty much dfepends on what market does
[11:08] {Threei} NY FED: PURCHASED $7.49B IN TREASURIES IN FIFTH ROUND OF $300B PURCHASE PROGRAM; DEALERS SUBMITTED $26.25B FOR CONSIDERATION ( 3.5 BID TO COVER)
[11:08] {Threei} - Heaviest purchase was $4.35B in the 3/31/2014 maturity
[11:08] {Threei} - Average bid to cover over last four auctions has been 3.02
[11:09] {Threei} UK PM BROWN COMMENTS ON G20; SAYS GROW MARKS FIGHTBACK AGAINST GLOBAL ECONOMIC RECESSION; IMF TO RECEIVE TRIPLING OF RESOURCES
[11:09] {Threei} - Fiscal stimulus to toal $5T by end of 2010
[11:09] {Threei} - G20 agreed to $1B available to world economy; $500B for IMF
[11:09] {Threei} - G20 agreed to $250B in SDRs
[11:09] {nemo} here we go on the new currency
[11:09] {Threei} that's not a new currency
[11:09] {Threei} that's an old currency
[11:09] {Threei} it's available to anyone for many years
[11:09] {nemo} yes but...process towards new reserve
[11:10] {Threei} and no one wants to use it
[11:10] {nemo} Perhaps it will be a perceived lesser of two evils $ or SDR
[11:10] {Threei} yeah... there was enthusiasm about it at the beginning... fizzled out... I bet it will be the same this time
[11:11] {Threei} JNPR is coming into 1:3
[11:11] {wulff} yup
[11:11] {Threei} you are on your own wulff... good trade
[11:15] {Threei} hmmm
[11:15] {Threei} FAS did pull back into .55
[11:15] {Threei} just as I wanted
[11:15] {Threei} but I probably dozed off, lol
[11:16] {Threei} [10:43] {Threei} nice spike FAS
[11:16] {Threei} [10:44] {Threei} let's see if it gives us a pullback
[11:16] {Threei} [10:44] {Threei} I'd interested closer to .55
[11:17] {Threei} G20 COMMUNIQU : STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:17] {nemo} sure...
[11:17] {Threei} I want their calculator
[11:17] {Threei} or what they are smoking
[11:18] {nemo} break of .66 on FAS?
[11:18] {Threei} nah
[11:19] {Threei} who kept DRYS, start looking for exit door
[11:20] {Threei} I am out at .58
[11:21] {Threei} probably has more in it but I am running the risk to fall alseep while it's moving
[11:21] {Threei} too bad we missed .55 on FAS
[11:21] {Threei} was nice scalp
[11:23] {Threei} *G20 COMMUNIQU: AGREE ON $850B FUNDING FOR IMF AND WORLD BANK; STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:23] {Threei} - central banks pledged expansionary policies for as long as needed; to use all policy tools
[11:23] {Threei} - G20 will take action to restore flow of credit
[11:23] {Threei} - Completing DOHA trade round is 'urgently needed'
[11:23] {Threei} - To regulate 'sistemically important hedge funds'; demand 'sustainable compensation schemes'
[11:27] {wulff} here comes 17
[11:27] {Threei} wtg
[11:33] {nemo} weird, look at BAC teetering on the edge
[11:33] {Threei} there are a lot of disconnects
[11:34] {Threei} not many stocks followed the market into highs
[11:34] {Threei} JNPR being notable and pleasant exception
[11:34] {nemo} I know it's just opinion...but this M2M is just a new paint job on the Potemkin Village
[11:35] {nemo} akamai moved nicely today too
[11:43] {pita} anyone watching aapl?
[11:45] {Threei} usually one of constantly on radar... just trying to stay away from too fast ones today
[11:50] {nemo} cat moved up nice today but might be double topping
[11:51] {Threei} everyuthing feels to me like down from here
[11:53] {Threei} things are too quiet though
[11:54] {Threei} and I hate shorting qwuiet market
[12:00] {Threei} DRYS exceeded my expectations
[12:15] {vint} RIMM is up on good volume
[12:17] {Threei} market consolidates for another break and leg up
[12:18] {Threei} trying to find followers
[12:20] {larisa} missed PLD break of day high
[12:23] {vint} Vad- when you have a moment, 1 question: for entry, what is better? limit order or market order
[12:23] {Threei} limit, a few cents above the offer price
[12:23] {Threei} not more than you are willing to chase for
[12:24] {vint} got it,thanks
[12:27] {Threei} JNPR, wow
[12:28] {nemo} Might get that 500 point day
[12:29] {larisa} nah, will close around 8000 :)
[12:29] {nemo} such a pessimist
[12:31] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: US IS PREPARED TO DISCUSS "DIFFERENT IDEAS" ON MISSLE DEFENSE SHIELD
[12:36] {Threei} IMF'S STRAUSS-KAHN: SDR WILL PROVIDE THE GLOBAL FINANCIAL SYSTEM WITH LIQUIDITY, CAN BE USED BY ONE COUNTRY TO LEND TO ANOTHER
[12:36] {Threei} - Expects SDR to increase the reserves of member states and provide stability.{EUR/USD EUR/GBP GBP/USD USD/JPY EUR/JPY USD/CAD
[12:40] {pita} later everyone, happy hunting
[12:40] {Threei} take care pita
[12:54] {Threei} anyone sees anything trade-worthy?
[12:54] {dptl} unp?
[12:55] {Threei} scary one...
[12:56] {i2romantis} thinking maybe DRYS, but very cautious
[12:56] {Threei} can punish brutally if you arer on a wrong side...
[12:56] {Threei} DRYS dropped sharply into support
[12:56] {Threei} bounce candidate with market upward resumption
[12:57] {Threei} just won't be fast
[12:57] {i2romantis} ok
[13:03] {nemo} There is a remarkable lack of volume in this move today
[13:04] {Threei} NQ looks more or less fine, considering dau is not over yet
[13:04] {Threei} what about DJI?
[13:04] {nemo} 115%
[13:04] {Threei} why lack then?
[13:04] {nemo} It's not huge volume, just a little above average
[13:05] {Threei} we still have three hours to go
[13:05] {Threei} and we are already above average
[13:05] {Threei} looks just right to me - volume increases but not becomes hysterical yet
[13:06] {nemo} look at JNPR
[13:09] {Threei} US SENATE APPROVES BUDGET AMENDMENT TO REQUIRE DISCLOSURE OF COMPANIES ACCEPTING GUNDS FROM THE FED
[13:09] {Threei} just half year later... good job boyz
[13:09] {larisa} guns ? funds ?
[13:09] {nemo} You didn't see the contributions to their campaigns
[13:09] {Threei} lol
[13:10] {Threei} funds typed by someone with skills fairly similar to mine
[13:16] {i2romantis} DRYS, new support or new sliding deck?
[13:16] {Threei} no read on it until market degines something
[13:16] {Threei} let's try short on CAT
[13:16] {Threei} .55 would be a stop
[13:17] {Threei} aggressive entry near .50
[13:17] {Threei} first weakness fron here
[13:17] {Threei} if goes over .55 will be invalidated
[13:19] {dptl} in .49
[13:19] {Threei} NAV halt
[13:21] {Threei} CAT over 1:1
[13:21] {Threei} half cover
[13:21] {Threei} beauty of aggressive entries eh
[13:21] {dptl} out 35 ty
[13:21] {Threei} welcome
[13:21] {fernp} great call Vad. ty
[13:22] {Threei} fern :)
[13:22] {Threei} out in full .28
[13:25] {Threei} and we didn't buy FAZ ascending triangle break at .75 why?
[13:25] {nemo} you're tired?
[13:25] {Threei} can't tell... I'd have to wake up to gauge that
[13:26] {Threei} and I have no intention to wake up till Mon
[13:26] {nemo} gonna' sleep through Friday, huh?
[13:31] {nemo} looks like you might be getting your bollinger band reversal formation on the indexes
[13:32] {nemo} CAT just completed it
[13:34] {Threei} JAVA
[13:34] {Threei} WSJ: DEAL FOR COMPANY FROM IBM NOW AT $9-10
[13:37] {Threei} Notes JAVA may take lower price for deal protection, with antitrust issues as a concern
[13:37] {Threei} - Reminder on 3/18: WSJ reportedly IBM was likely to pay between $10-11/shr for the company{IBM}
[13:38] {Threei} US REP KENNEDY PROPOSES TO REINSTATE GLASS STEAGALL
[13:38] {nemo} which one, from RI?
[13:38] {Threei} I can't believe it took them this long to think of it
[13:38] {nemo} wedge on FAS on 1 minute
[13:39] {nemo} ope
[13:39] {nemo} nope
[13:43] {nemo} pretty good so far Larisa
[13:43] {larisa} :)
[13:44] {vint} Vad- feels like going long for RIMM if it bounces off .40 area.
[13:44] {Threei} .40?
[13:45] {vint} not sure
[13:45] {Threei} it's under
[13:46] {vint} uh yes, i meant .20
[13:46] {Threei} okay... then yes :)
[13:47] {nemo} market woke up
[13:47] {nemo} ehh...maybe just stuck it's head out from the covers
[13:50] {nemo} JNPR head and shoulders?
[13:51] {Threei} kind of, yeah
[13:51] {nemo} I"m seein' things
[13:51] {nemo} damn flying monkees
[13:51] {Threei} a bit lopsided
[13:51] {nemo} hunchback
[13:57] {Threei} GM
[13:57] {Threei} FORECASTING RESTRUCTURING PROGRAM IN EUROPE TO LAST UNTIL THE MIDDLE OF 2009; HAS CONTINGENCIES IF TALKS TAKE LONGER
[13:57] {Threei} wow
[13:57] {Threei} what just killed finniesA?
[14:00] {dptl} drys.45?
[14:04] {Threei} tough call
[14:04] {dptl} ok
[14:05] {nemo} same w cat break of .50
[14:05] {nemo} well that went
[14:10] {nemo} CAT just spiked down to test support
[14:16] {Threei} REPORTEDLY HOUSE BILL TO REVAMP CREDIT CARD RULE HAS CLEARED A MAJOR HURDLE
[14:16] {Threei} {V MA AXP DFS JPM C}
[14:17] {nemo} what, they can't have a pound of flesh anymore and have to stop speaking braille on those explanation statements, sheesh
[14:19] {nemo} wow quite the telport on cat
[14:22] {Threei} FAZ dfoes quite readable teleportations
[14:22] {Threei} can't call them in time
[14:22] {Threei} they are lightening
[14:22] {Threei} but if you obsderve them, can scalp them quite safely
[14:22] {Threei} just don't go over half lot
[14:23] {magoo} whats the range u seeing?
[14:24] {Threei} mostly between 18 and 18.35, with useful range for scalps about 15-20 cents
[14:25] {vint} market seems quiet even after lunch hrs..right?
[14:25] {Threei} mostly, yeah
[14:25] {nemo} volume is tapering off at the moment
[14:26] {nemo} CAT's probably going back to test the highs
[14:27] {Threei} FAZ
[14:27] {Threei} .81 long if stays above .75
[14:28] {Threei} invalidated
[14:28] {Threei} .76
[14:28] {Threei} if stays above .70
[14:33] {nemo} CAT touched .91
[14:34] {nemo} .92
[14:34] {Threei} .93?
[14:34] {nemo} yep
[14:34] {nemo} was hoping for the start of a handle, might not get it
[14:38] {magoo} vad..give me a read GS paluease
[14:38] {Threei} 114 break
[14:38] {Threei} if climbs into it more or less slowly
[14:39] {Threei} other than that, nothing recognizable to me
[14:39] {Threei} maybe sharp drop into 113.20 zone for a scalp bounce
[14:40] {Threei} so far so good a for a break
[14:40] {magoo} thas pretty good
[14:40] {magoo} got read AAPL?
06[14:41] * Threei slaps magoo around a bit with a large suggestion to keep his appetite in check
[14:41] {Threei} half out GS
[14:42] {Threei} if want more than a scalp, look for .40 - .50 zone for exit
[14:42] {Threei} here we go
[14:42] {Threei} out .45
[14:43] {magoo} i got .37 TY BOSSMAN
[14:43] {Threei} welcome
[14:43] {Threei} even though you literally pulled this call out of me
[14:43] {magoo} oh wait..i pre-empt TY earlioer
[14:43] {Threei} lol
[14:44] {Threei} now I realize I missed you guys
[14:47] {magoo} we may see seelling in last half hour ahead of employmt numbers
[14:47] {Threei} or panic covering
[14:48] {nemo} was a bad adp number this week 742k
[14:48] {magoo} ya ya...that two
[14:48] {Threei} market is still up 0ver 300 points, and on a bigger volume vs yesterday
[14:48] {Threei} kind of hard to imagine shorts feeling comfiortable
[14:48] {nemo} if employment comes in in-line market will likely be happy
[14:49] {nemo} CAT vad? consolidating under .95
[14:49] {nemo} ?
[14:51] {Threei} not sure...
[14:51] {nemo} lost .90
[14:51] {Threei} somehow tough to get read on it here
[14:51] {Threei} what did we have 1-2 stops today? with about 5-7 calls working?
[14:52] {Threei} can I stop even pretending I care to find any more plays? :)
[14:53] {magoo} im down a lil
[14:53] {magoo} on my bootleg plays
[14:53] {magoo} so get working
[14:53] {nemo} oy weh
[14:53] {Threei} those are not my resp;onsibility
[14:54] {Threei} I never endorsed bootlegging
[14:54] {Threei} (without cutting me my share that is)
[14:56] {nemo} idiot me...when cat lost .90 I also saw the indexes weakening...obvious short
06[14:56] * nemo slaps nemo around a bit with a large sledge hammer
[15:17] {larisa} .
[15:19] {Threei} ..
[15:19] {dptl} ok..here ...
[15:19] {larisa} lol
[15:39] {dptl} nite all
[15:40] {Threei} take care dp
[15:44] {nemo} CAT got time to break the C&H?
[15:44] {Threei} time, yes... gas, not so sure
[15:45] {nemo} bounce near .70?
[15:46] {nemo} nope
[15:46] {Threei} I don't know what to make of this sudden reversal in everything
[15:46] {Threei} it throws off all technical reads
[15:47] {nemo} locking in gains
[15:47] {nemo} although, just got a hammer on cat
[15:48] {nemo} wow
[15:49] {Threei} so... is the room topic right for today?
[15:49] {nemo} Magoo...I think this is for you
[15:50] {Threei} he has no idea where to look for room topic
[15:50] {nemo} Why don't you tell him?
[15:50] {Threei} what for?
[15:51] {nemo} Why not?
[15:51] {Threei} we discuss the room topic, he gets curious, asks where it is
[15:51] {Threei} we don't tell him
[15:51] {nemo} oh
[15:51] {Threei} he feels tortured
[15:51] {Threei} isn't it fun you would expect me to want to have?
[15:51] {nemo} yeah...like clubbing baby seals
[15:52] {nemo} that might have been a bit extreme
[15:52] {nemo} Perhaps the PPT thought a finish above 8000 was just too much
[15:52] {Threei} larisa nailed the day the closest
[15:53] {larisa} 8 more monutes, 40 more points
[15:53] {larisa} O=I
[15:54] {nemo} volumes just a hair above average
[15:59] {larisa} see you tomorrow guys, vad get good sleep :)
[15:59] {Threei} thank you all
[16:00] {Threei} have a great evening, see you tomorrow!
[16:00] {magoo} ty vad..all
[16:00] {vint} thanks Vad, bye all
Session Start: Thu Apr 02 02:40:26 2009
[07:35] {nemo} anybody home?
[08:35] {fernp} Hello everybody
[08:35] {nemo} good morning
[08:35] {pita} hi all
[08:35] {Threei} Good morning!'
[08:35] {nemo} there you are
[08:35] {pita} welcome home Vad
[08:36] {Threei} thank you
[08:36] {Threei} how is trading?
[08:37] {pita} tentative on my own.........
[08:38] {pita} but finished positive
[08:38] {dptl} good morning
[08:39] {Threei} dp :)
[08:39] {dptl} Hey Vad....so....how was it?
[08:39] {Threei} beyond wildsest imagination
[08:40] {dptl} i thought so :)
[08:41] {Threei} beaches are amazing
[08:41] {Threei} water color is from outer space
[08:41] {Threei} oh, and audience liked my sessions
[08:42] {dptl} nice...:)
[08:44] {Threei} that was somewhat unusual audfience for me
[08:44] {dptl} all drunk?
[08:44] {KSystems} UNusual, dp
[08:44] {Threei} not strictly daytrading crowd, rather people from long term/investment circles, hit by last couple years developments
[08:45] {Threei} and wanting to move to self-management
[08:45] {Threei} so I needed to do some serious transitioning work
[08:47] {Threei} FAZ 52 week lows
[08:48] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: REITERATES SUPPORT FOR CREATION OF NEW CURRENCY, NEW CURRENCY MAY BE LINKED TO GOLD
[08:48] {nemo} Kettle 1 please
[08:50] {pita} leave the bottle
[08:50] {magoo} morning
[08:50] {Threei} magoo :)
[08:51] {Threei} (US) FASB: NEW GUIDANCE TO BE EFFECTIVE Q2 2009
[08:51] {magoo} hey vad:) how was trip?
[08:52] {Threei} beautiful in more ways than I could list
[08:52] {nemo} we are in q2, FAS starting a selloff
[08:52] {Threei} I guess market wanted immediate?
[08:52] {nemo} eh...coming right back, they just figured out it is q2
[08:52] {magoo} great to here vad
[08:53] {magoo} room really missed ya
[08:53] {magoo} heads up though..its been very jerky still
[08:53] {Threei} well, let me ease in
[08:53] {magoo} yea
[08:53] {Threei} got about 5 hours of sleep after the plane
[08:54] {Threei} 4 is more like it actually
[08:54] {vinod} GM to all
[08:54] {magoo} let me ask this..........
[08:55] {Threei} vinod :)
[08:56] {magoo} are u sober he he?
[08:56] {Threei} yeah... but sleep deprivation will do the dame damage :)
[09:00] {cosmo} dame?
[09:01] {larisa} good morning :)
[09:01] {Threei} cosmo, larisa :)
[09:01] {larisa} welcome back :)
[09:01] {magoo} fasb voted to relax mark-to-mkt accting
[09:01] {fernp} welcome back Vad
[09:02] {cosmo} 3i,lars:)
[09:02] {Threei} thank you :)
[09:02] {larisa} cosmo :)
[09:03] {magoo} i believe RIMM reports tonite
[09:06] {cosmo} ... a gold backed world currency?
[09:06] {cosmo} hmmm
[09:06] {magoo} sounds likr roman empire he he
[09:07] {cosmo} hmm
[09:07] {cosmo} i wonder what Ron Paul thinks about that
[09:08] {ese} weary traveller....welcome back......
[09:08] {Threei} ese :)
[09:09] {Threei} G20 DRAFT: DRAFT TEXT IN LINE WITH EXPECTATIONS
[09:09] {Threei} - To channel $750B to IMF
[09:09] {Threei} - To channel $100B to WB
[09:09] {Threei} - Calls for registration of all hedge funds
[09:09] {Threei} - Regulators globally should consider the effect of pay practices
[09:13] {cosmo} use dubloon coins maybe
[09:14] {Threei} anything about market behavior over last few days I should be aware about?
[09:16] {larisa} narrow ranges with spikes both ways. yest a little better
[09:17] {ese} don't know about the market vad....but we've been behaving badly...all off us...sory bout that
[09:18] {Threei} that's quite alright, as long as no one complains
[09:18] {Threei} hope you all enjoyed it
[09:18] {ese} we miss ya....
[09:18] {Threei} this I find hard to believe
[09:19] {ese} voice of reason.....mags and i got into a quagmire with APOL yesterday from which there was no return
[09:20] {cosmo} CMCSA
[09:20] {ese} it took us down swingin though....we didn't go down without a fight
[09:21] {KSystems} Hey everybody, are there any skydivers among you? If so, please say something :-)
[09:21] {ese} would like too but my wife wll not allow it
[09:22] {i2romantis} morning all, welcome back, Vad! we missed you!
[09:22] {Threei} hi i2r, thank you
[09:24] {Threei} FASB SPOKESMAN: NO VOTE YET ON MARK-TO-MARKET ACCOUNTING
[09:24] {Threei} headline bombardment continues?
[09:25] {Threei} okay guys, game plan is: upward bias, pullback entries
[09:26] {nemo} banks keep moving up
[09:26] {pita} watching?
[09:26] {Threei} and I will try to take it easy in order to make sure I get a feel for the market instead of jumping right in and doing damage
[09:26] {Threei} no matter how clear that bahamian water is, it pulls a curtain over one's eyes
[09:26] {Threei} usual suspects pita
[09:26] {Threei} FAS
[09:26] {Threei} BAC
[09:26] {Threei} WFC
[09:27] {Threei} STT needs some serious pullback
[09:27] {Threei} RIMM
[09:29] {Threei} DRYS... maybe there is life on this planet
[09:29] {Threei} pre-market chart shapes up as 5.50 break long for it
[09:29] {Threei} with stop under 5.30
[09:29] {Threei} probably too risky for me right now
[09:30] {nemo} getting really volatile
[09:30] {Threei} but if consolidates a little close to .50, will be valid trade
[09:32] {Threei} Long Setup: DRYS .50 break if stays above .30 - .35 zone
[09:33] {magoo} missed
[09:33] {nemo} that broke too fast
[09:33] {fernp} too fast
[09:33] {nemo} all those orders at .50 then bamm!
[09:33] {_poisonivy0} wow good call starting to like this chat room lol
[09:34] {Threei} see if gives you a pullback for entry
[09:34] {nemo} Vad's like that
[09:34] {_poisonivy0} :-)
[09:34] {Threei} FAS pullback starts looking more interesting
[09:34] {magoo} ok..in .54
[09:34] {Threei} want a bit more though
[09:35] {nemo} BAC Vad
[09:35] {fernp} BAC pulling back too
[09:36] {Threei} BAC, I'd like to see a few oscillations between .60 and .65, then .65 break for entry
[09:36] {magoo} out ,68 TY BOSS
[09:36] {Threei} DRYS 1:1, half out
[09:36] {Threei} or scalp of course if you feel like safe profit
[09:37] {_poisonivy0} do you boys spreadbet on this or trade shares?
[09:37] {Threei} if taking half, stop for the balance is trailed to under 5.45
[09:37] {nemo} in BAC
[09:37] {Threei} shares, poison
[09:37] {Threei} we are very simpleminded creatures
[09:38] {_poisonivy0} lol
[09:38] {Threei} nemo, it lost .60 for a few shakes of lamb tail...
[09:38] {Threei} doesn't fully invalidfate the play, but makes it less confidfent
[09:39] {nemo} Hell then I'm out
[09:39] {Threei} hard to tell, really
[09:39] {Threei} my strategy for such case would be half out
[09:39] {nemo} With announcements coming, why screw around
[09:39] {Threei} more to reduce the risk than to secure profit
[09:40] {Threei} as Bahamas conference head said... it's all about buying and selling risk
[09:40] {magoo} rimm getting interesting
[09:41] {magoo} not in
[09:41] {magoo} im watchoing SPY
[09:41] {Threei} watching BAC for possible double bottom
[09:42] {Threei} holding .60 and breaking .70 would be confirmation
[09:42] {magoo} l rimm .30
[09:42] {Threei} .57 is closest support, so if market/BAC start upticking, aggressive entry would be about here with stop .55
[09:43] {magoo} out .55 TY vad
[09:43] {wulff} DRYS pulback
[09:43] {Threei} pre-emptive thank you?
[09:44] {magoo} yup
[09:44] {magoo} RIMM was beauty
[09:44] {magoo} anyone}??
[09:44] {Threei} if you took BAC around .63 -.65, keep .55 stop still, trail it to .59 when it breaks .70
[09:44] {Threei} if you are regular type of entry, buy .70 break with stop under .60
[09:45] {nemo} fas Vad
[09:45] {magoo} WFC vad..keep on on it
[09:45] {magoo} mover big time
[09:45] {magoo} in bac btw
[09:45] {Threei} half out BAC here for aggresive entry
[09:45] {nemo} in BAC
[09:46] {Threei} WFC pretty much played out by the same scenario, I just want tp play with slower ones for now
[09:47] {fernp} out BAC TY
[09:47] {Threei} fern :)
[09:48] {magoo} RIMM doing it
[09:48] {pita} ty bac
[09:49] {Threei} pita :)
[09:49] {Threei} ECB'S STARK: MAY POLICY MEETING MIGHT BE THE RIGHT TIME TO DECIDE ON NON-CONVENTIONAL STEPS
[09:49] {magoo} vad..STT look
[09:49] {magoo} bouncer??
[09:50] {Threei} not sure, something is not exactly right with this one
[09:51] {pita} reload bac?
[09:52] {Threei} not yet
[09:52] {Threei} we need it to establish range to break
[09:52] {Threei} for instance, .65-.70
[09:53] {Threei} JNPR...
[09:53] {Threei} looks salmonish to me
[09:54] {magoo} long JPM .20
[09:54] {magoo} duh
[09:54] {magoo} .10
[09:54] {magoo} i took STT .20
[09:54] {magoo} vad
[09:55] {cosmo} rally
[09:55] {Threei} so, you want my approval or what? :)
[09:55] {Threei} market has already approved your entry
[09:56] {Threei} Long Setup: JNPR .50 if holding above .40
[09:57] {_poisonivy0} ^^ does this mean buy once hits .40 and hold till .50
[09:57] {magoo} out STT ,66
[09:57] {magoo} still in jpm
[09:58] {Threei} no poison
[09:58] {magoo} watching WFC big time
[09:58] {nemo} breaks 50
[09:58] {Threei} buy if it hits .50 while not going lower than .40
[09:58] {Threei} WFC mags,
[09:58] {Threei} aggressive entry if market spikes
[09:59] {Threei} ENER
[09:59] {Threei} HEARING TAKEOVER CHATTER WITH FIRST SOLAR POSSIBLE BIDDER
[09:59] {Threei} {FSLR}
[09:59] {magoo} if mkt runs it will go 17 vad
[10:00] {_poisonivy0} tnks
[10:00] {Threei} *FEB FACTORY ORDERS: 1.8% V 1.5%E
[10:00] {Threei} if ou toom WFC aggressively, stop is .85
[10:00] {magoo} in yes
[10:00] {nemo} BAC break of .80 Vad
[10:01] {Threei} EX CHAIRMAN GREENBERG: US GOVT PLAN FOR AIG HAS FAILED - CONGRESSIONAL TESTIMONY
06[10:04] * Threei slaps laserdave around a bit with a large cold glass of bahama-mama
[10:09] {magoo} sropped jpm
[10:09] {nemo} if BAC breaches .60 short?
[10:09] {Threei} can't tell yet
[10:09] {fernp} JNPR is still valid, Vad?
[10:09] {Threei} market is hesitating
[10:09] {vint} good morning all
[10:10] {Threei} vint :)
[10:10] {Threei} I think so fern, just needxs confidence to return to the market for a strong bullish move
[10:10] {fernp} ok
[10:12] {nemo} jnpr invalidated
[10:13] {fernp} yeah, lost .40
[10:13] {Threei} yeah, let's leave it be
[10:18] {Threei} RIMM
[10:18] {Threei} strange weakness
[10:18] {Threei} market makes new highs
[10:18] {Threei} short canddiate on .50 break
[10:21] {Threei} STEM
[10:21] {Threei} HEARING VAGUE CHATTER THAT STRENGTH BEING ATTRIBUTED TO COLLABORATION RUMORS
[10:21] {Threei} - Rumored that Pfizer has been put out as name interestd in JV{PFE}
[10:22] {nemo} possible C&H on BAC for short?
[10:22] {Threei} yeah, starts looking this way
[10:23] {nemo} I can hear Dino's "gap close" ringing in my ears
[10:24] {nemo} indexes look like they want up though
[10:25] {Threei} cover half RIMM who got it
[10:25] {Threei} aiming to cover the balance around .15
[10:26] {Threei} stop .55
[10:27] {Threei} did I get too greedy on the RIMM balance?
[10:28] {nemo} yeah
[10:28] {Threei} oh well
[10:28] {nemo} just this one time....
[10:29] {Threei} BAC 1:1, nemo
[10:31] {Threei} okay guys, so far so good
[10:31] {Threei} 3 or 4 calls worked, WFC didn't
[10:32] {wulff} gals
[10:32] {wulff} ?
[10:32] {Threei} gals too
[10:32] {Threei} not too shabby for a severe sleep deprivation
[10:32] {wulff} not me, however
[10:33] {Threei} US AND EU FINANCIAL REGULATORS HAVE AGREED TO CAPITAL FLOOR LEVEL FOR BANKS -WSJ
[10:33] {Threei} meaning, uniform leverage for fractional reserve?
[10:34] {Threei} nothing's wrong with that if so
[10:35] {nemo} FAS might be bottoming
[10:37] {Threei} Long Setup: DRYS .51
[10:37] {Threei} stop for hard core scalpers .44, for the rest .39
[10:38] {nemo} in
[10:39] {nemo} ooh monster order @ 52
[10:39] {nemo} gone
[10:39] {Threei} hmm?
[10:39] {Threei} there are monster orders on it everywhere
[10:39] {nemo} there was a big order @ .52 on drys, now gone
[10:40] {Threei} (US) SENATORS SEND LETTER TO SEC ASKING FOR CLEAR REGULATION REGARDING NAKED SHORTS AND ABUSIVE SELLING
[10:40] {Threei} - Letter drafted by Senators Kaufman, Tester, Levin, Isakson, Chambliss and Spector
[10:40] {Threei} - Seek clear ban on naked short selling and further regulation on abusive short selling
[10:40] {Threei} - Seek regulation that addresses the need for an uptick rule along with pre-borrowment requirments
[10:40] {_poisonivy0} the market 1 dodgey plave loll
[10:40] {_poisonivy0} markets*
[10:41] {Threei} (US) OBAMA ADMINISTRATION IS DEVELOPING A HEDGE FUND TO MANAGE $500B IN TOXIC BANK ASSETS
[10:41] {Threei} is there any kind of business government is not in yet?
[10:41] {Threei} banking, insurance, hedge funds, bodyshop...
[10:42] {Threei} psychotherapy
[10:42] {cosmo} infrastructure?
[10:43] {Threei} nice spike FAS
[10:44] {Threei} let's see if it gives us a pullback
[10:44] {Threei} I'd interested closer to .55
[10:46] {wulff} took JNPR .50
[10:46] {Threei} you are at 1:1 then
[10:47] {wulff} yup
[10:48] {magoo} what is this 1:1 of which u speak?
[10:48] {Threei} wake up DRYS, what's with this coma
06[10:48] * Threei slaps magoo around a bit with a large Master Profit Plan
[10:48] {nemo} mags: original on JNPR was .50 break stop .40 invalimudated but Wulff picked it up on range reestablishment
[10:49] {magoo} :)
[10:49] {Threei} invalimudat {--- I like the word
[10:49] {Threei} invalimudated
[10:54] {fernp} DRYS is in coma
[10:54] {Threei} pretty much
[10:55] {nemo} out DRYS
[10:55] {Threei} market pulling back on low volume
[10:55] {Threei} probably one more upward thrust is in order
[10:57] {Threei} life all but disappeared from the market
[10:57] {Threei} let's talk about bahamian beaches?
[10:58] {Threei} REMINDER: TREASURY WILL MAKE IT ANNOUNCEMENT FOR THE 10-YEAR NOTE TIPS OFFERING AROUND 11:00PM
[10:58] {i2romantis} yes, how were the beaches?
[10:59] {Threei} phantastik
[11:00] {Threei} very fine white sand
[11:00] {vint} did u miss trading?
[11:00] {Threei} U.S. TREASURY TO SELL $6B IN 10 YEAR TIPS
[11:00] {Threei} nah, I am not THAT addicted
[11:01] {Threei} some very funny looking fish around
[11:01] {nemo} Gold or miners might be a buy if that auction doesn't go well
[11:01] {Threei} (US) FASB ADOPTS VOTES TO ADOPT MARK-TO-MARKET CHANGES
[11:02] {Threei} hmm?
[11:02] {Threei} is it Enlgish?
[11:02] {wulff} JNPR survived the .50 test
[11:02] {Threei} yes wulff... classic
[11:02] {Threei} former resistance, new support...
[11:03] {wulff} touched .51
[11:04] {nemo} I wonder if M2M changes are irrelevant in it doesn't change the quality of the assets, just the price on the "for sale" sign.
[11:04] {wulff} is 17 too greedy?
[11:06] {Threei} pretty much dfepends on what market does
[11:08] {Threei} NY FED: PURCHASED $7.49B IN TREASURIES IN FIFTH ROUND OF $300B PURCHASE PROGRAM; DEALERS SUBMITTED $26.25B FOR CONSIDERATION ( 3.5 BID TO COVER)
[11:08] {Threei} - Heaviest purchase was $4.35B in the 3/31/2014 maturity
[11:08] {Threei} - Average bid to cover over last four auctions has been 3.02
[11:09] {Threei} UK PM BROWN COMMENTS ON G20; SAYS GROW MARKS FIGHTBACK AGAINST GLOBAL ECONOMIC RECESSION; IMF TO RECEIVE TRIPLING OF RESOURCES
[11:09] {Threei} - Fiscal stimulus to toal $5T by end of 2010
[11:09] {Threei} - G20 agreed to $1B available to world economy; $500B for IMF
[11:09] {Threei} - G20 agreed to $250B in SDRs
[11:09] {nemo} here we go on the new currency
[11:09] {Threei} that's not a new currency
[11:09] {Threei} that's an old currency
[11:09] {Threei} it's available to anyone for many years
[11:09] {nemo} yes but...process towards new reserve
[11:10] {Threei} and no one wants to use it
[11:10] {nemo} Perhaps it will be a perceived lesser of two evils $ or SDR
[11:10] {Threei} yeah... there was enthusiasm about it at the beginning... fizzled out... I bet it will be the same this time
[11:11] {Threei} JNPR is coming into 1:3
[11:11] {wulff} yup
[11:11] {Threei} you are on your own wulff... good trade
[11:15] {Threei} hmmm
[11:15] {Threei} FAS did pull back into .55
[11:15] {Threei} just as I wanted
[11:15] {Threei} but I probably dozed off, lol
[11:16] {Threei} [10:43] {Threei} nice spike FAS
[11:16] {Threei} [10:44] {Threei} let's see if it gives us a pullback
[11:16] {Threei} [10:44] {Threei} I'd interested closer to .55
[11:17] {Threei} G20 COMMUNIQU : STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:17] {nemo} sure...
[11:17] {Threei} I want their calculator
[11:17] {Threei} or what they are smoking
[11:18] {nemo} break of .66 on FAS?
[11:18] {Threei} nah
[11:19] {Threei} who kept DRYS, start looking for exit door
[11:20] {Threei} I am out at .58
[11:21] {Threei} probably has more in it but I am running the risk to fall alseep while it's moving
[11:21] {Threei} too bad we missed .55 on FAS
[11:21] {Threei} was nice scalp
[11:23] {Threei} *G20 COMMUNIQU: AGREE ON $850B FUNDING FOR IMF AND WORLD BANK; STIMULUS TO RAISE GLOBAL OUTPUT BY 4% BY END OF 2010
[11:23] {Threei} - central banks pledged expansionary policies for as long as needed; to use all policy tools
[11:23] {Threei} - G20 will take action to restore flow of credit
[11:23] {Threei} - Completing DOHA trade round is 'urgently needed'
[11:23] {Threei} - To regulate 'sistemically important hedge funds'; demand 'sustainable compensation schemes'
[11:27] {wulff} here comes 17
[11:27] {Threei} wtg
[11:33] {nemo} weird, look at BAC teetering on the edge
[11:33] {Threei} there are a lot of disconnects
[11:34] {Threei} not many stocks followed the market into highs
[11:34] {Threei} JNPR being notable and pleasant exception
[11:34] {nemo} I know it's just opinion...but this M2M is just a new paint job on the Potemkin Village
[11:35] {nemo} akamai moved nicely today too
[11:43] {pita} anyone watching aapl?
[11:45] {Threei} usually one of constantly on radar... just trying to stay away from too fast ones today
[11:50] {nemo} cat moved up nice today but might be double topping
[11:51] {Threei} everyuthing feels to me like down from here
[11:53] {Threei} things are too quiet though
[11:54] {Threei} and I hate shorting qwuiet market
[12:00] {Threei} DRYS exceeded my expectations
[12:15] {vint} RIMM is up on good volume
[12:17] {Threei} market consolidates for another break and leg up
[12:18] {Threei} trying to find followers
[12:20] {larisa} missed PLD break of day high
[12:23] {vint} Vad- when you have a moment, 1 question: for entry, what is better? limit order or market order
[12:23] {Threei} limit, a few cents above the offer price
[12:23] {Threei} not more than you are willing to chase for
[12:24] {vint} got it,thanks
[12:27] {Threei} JNPR, wow
[12:28] {nemo} Might get that 500 point day
[12:29] {larisa} nah, will close around 8000 :)
[12:29] {nemo} such a pessimist
[12:31] {Threei} (RU) RUSSIAN PRESIDENT MEDVEDEV: US IS PREPARED TO DISCUSS "DIFFERENT IDEAS" ON MISSLE DEFENSE SHIELD
[12:36] {Threei} IMF'S STRAUSS-KAHN: SDR WILL PROVIDE THE GLOBAL FINANCIAL SYSTEM WITH LIQUIDITY, CAN BE USED BY ONE COUNTRY TO LEND TO ANOTHER
[12:36] {Threei} - Expects SDR to increase the reserves of member states and provide stability.{EUR/USD EUR/GBP GBP/USD USD/JPY EUR/JPY USD/CAD
[12:40] {pita} later everyone, happy hunting
[12:40] {Threei} take care pita
[12:54] {Threei} anyone sees anything trade-worthy?
[12:54] {dptl} unp?
[12:55] {Threei} scary one...
[12:56] {i2romantis} thinking maybe DRYS, but very cautious
[12:56] {Threei} can punish brutally if you arer on a wrong side...
[12:56] {Threei} DRYS dropped sharply into support
[12:56] {Threei} bounce candidate with market upward resumption
[12:57] {Threei} just won't be fast
[12:57] {i2romantis} ok
[13:03] {nemo} There is a remarkable lack of volume in this move today
[13:04] {Threei} NQ looks more or less fine, considering dau is not over yet
[13:04] {Threei} what about DJI?
[13:04] {nemo} 115%
[13:04] {Threei} why lack then?
[13:04] {nemo} It's not huge volume, just a little above average
[13:05] {Threei} we still have three hours to go
[13:05] {Threei} and we are already above average
[13:05] {Threei} looks just right to me - volume increases but not becomes hysterical yet
[13:06] {nemo} look at JNPR
[13:09] {Threei} US SENATE APPROVES BUDGET AMENDMENT TO REQUIRE DISCLOSURE OF COMPANIES ACCEPTING GUNDS FROM THE FED
[13:09] {Threei} just half year later... good job boyz
[13:09] {larisa} guns ? funds ?
[13:09] {nemo} You didn't see the contributions to their campaigns
[13:09] {Threei} lol
[13:10] {Threei} funds typed by someone with skills fairly similar to mine
[13:16] {i2romantis} DRYS, new support or new sliding deck?
[13:16] {Threei} no read on it until market degines something
[13:16] {Threei} let's try short on CAT
[13:16] {Threei} .55 would be a stop
[13:17] {Threei} aggressive entry near .50
[13:17] {Threei} first weakness fron here
[13:17] {Threei} if goes over .55 will be invalidated
[13:19] {dptl} in .49
[13:19] {Threei} NAV halt
[13:21] {Threei} CAT over 1:1
[13:21] {Threei} half cover
[13:21] {Threei} beauty of aggressive entries eh
[13:21] {dptl} out 35 ty
[13:21] {Threei} welcome
[13:21] {fernp} great call Vad. ty
[13:22] {Threei} fern :)
[13:22] {Threei} out in full .28
[13:25] {Threei} and we didn't buy FAZ ascending triangle break at .75 why?
[13:25] {nemo} you're tired?
[13:25] {Threei} can't tell... I'd have to wake up to gauge that
[13:26] {Threei} and I have no intention to wake up till Mon
[13:26] {nemo} gonna' sleep through Friday, huh?
[13:31] {nemo} looks like you might be getting your bollinger band reversal formation on the indexes
[13:32] {nemo} CAT just completed it
[13:34] {Threei} JAVA
[13:34] {Threei} WSJ: DEAL FOR COMPANY FROM IBM NOW AT $9-10
[13:37] {Threei} Notes JAVA may take lower price for deal protection, with antitrust issues as a concern
[13:37] {Threei} - Reminder on 3/18: WSJ reportedly IBM was likely to pay between $10-11/shr for the company{IBM}
[13:38] {Threei} US REP KENNEDY PROPOSES TO REINSTATE GLASS STEAGALL
[13:38] {nemo} which one, from RI?
[13:38] {Threei} I can't believe it took them this long to think of it
[13:38] {nemo} wedge on FAS on 1 minute
[13:39] {nemo} ope
[13:39] {nemo} nope
[13:43] {nemo} pretty good so far Larisa
[13:43] {larisa} :)
[13:44] {vint} Vad- feels like going long for RIMM if it bounces off .40 area.
[13:44] {Threei} .40?
[13:45] {vint} not sure
[13:45] {Threei} it's under
[13:46] {vint} uh yes, i meant .20
[13:46] {Threei} okay... then yes :)
[13:47] {nemo} market woke up
[13:47] {nemo} ehh...maybe just stuck it's head out from the covers
[13:50] {nemo} JNPR head and shoulders?
[13:51] {Threei} kind of, yeah
[13:51] {nemo} I"m seein' things
[13:51] {nemo} damn flying monkees
[13:51] {Threei} a bit lopsided
[13:51] {nemo} hunchback
[13:57] {Threei} GM
[13:57] {Threei} FORECASTING RESTRUCTURING PROGRAM IN EUROPE TO LAST UNTIL THE MIDDLE OF 2009; HAS CONTINGENCIES IF TALKS TAKE LONGER
[13:57] {Threei} wow
[13:57] {Threei} what just killed finniesA?
[14:00] {dptl} drys.45?
[14:04] {Threei} tough call
[14:04] {dptl} ok
[14:05] {nemo} same w cat break of .50
[14:05] {nemo} well that went
[14:10] {nemo} CAT just spiked down to test support
[14:16] {Threei} REPORTEDLY HOUSE BILL TO REVAMP CREDIT CARD RULE HAS CLEARED A MAJOR HURDLE
[14:16] {Threei} {V MA AXP DFS JPM C}
[14:17] {nemo} what, they can't have a pound of flesh anymore and have to stop speaking braille on those explanation statements, sheesh
[14:19] {nemo} wow quite the telport on cat
[14:22] {Threei} FAZ dfoes quite readable teleportations
[14:22] {Threei} can't call them in time
[14:22] {Threei} they are lightening
[14:22] {Threei} but if you obsderve them, can scalp them quite safely
[14:22] {Threei} just don't go over half lot
[14:23] {magoo} whats the range u seeing?
[14:24] {Threei} mostly between 18 and 18.35, with useful range for scalps about 15-20 cents
[14:25] {vint} market seems quiet even after lunch hrs..right?
[14:25] {Threei} mostly, yeah
[14:25] {nemo} volume is tapering off at the moment
[14:26] {nemo} CAT's probably going back to test the highs
[14:27] {Threei} FAZ
[14:27] {Threei} .81 long if stays above .75
[14:28] {Threei} invalidated
[14:28] {Threei} .76
[14:28] {Threei} if stays above .70
[14:33] {nemo} CAT touched .91
[14:34] {nemo} .92
[14:34] {Threei} .93?
[14:34] {nemo} yep
[14:34] {nemo} was hoping for the start of a handle, might not get it
[14:38] {magoo} vad..give me a read GS paluease
[14:38] {Threei} 114 break
[14:38] {Threei} if climbs into it more or less slowly
[14:39] {Threei} other than that, nothing recognizable to me
[14:39] {Threei} maybe sharp drop into 113.20 zone for a scalp bounce
[14:40] {Threei} so far so good a for a break
[14:40] {magoo} thas pretty good
[14:40] {magoo} got read AAPL?
06[14:41] * Threei slaps magoo around a bit with a large suggestion to keep his appetite in check
[14:41] {Threei} half out GS
[14:42] {Threei} if want more than a scalp, look for .40 - .50 zone for exit
[14:42] {Threei} here we go
[14:42] {Threei} out .45
[14:43] {magoo} i got .37 TY BOSSMAN
[14:43] {Threei} welcome
[14:43] {Threei} even though you literally pulled this call out of me
[14:43] {magoo} oh wait..i pre-empt TY earlioer
[14:43] {Threei} lol
[14:44] {Threei} now I realize I missed you guys
[14:47] {magoo} we may see seelling in last half hour ahead of employmt numbers
[14:47] {Threei} or panic covering
[14:48] {nemo} was a bad adp number this week 742k
[14:48] {magoo} ya ya...that two
[14:48] {Threei} market is still up 0ver 300 points, and on a bigger volume vs yesterday
[14:48] {Threei} kind of hard to imagine shorts feeling comfiortable
[14:48] {nemo} if employment comes in in-line market will likely be happy
[14:49] {nemo} CAT vad? consolidating under .95
[14:49] {nemo} ?
[14:51] {Threei} not sure...
[14:51] {nemo} lost .90
[14:51] {Threei} somehow tough to get read on it here
[14:51] {Threei} what did we have 1-2 stops today? with about 5-7 calls working?
[14:52] {Threei} can I stop even pretending I care to find any more plays? :)
[14:53] {magoo} im down a lil
[14:53] {magoo} on my bootleg plays
[14:53] {magoo} so get working
[14:53] {nemo} oy weh
[14:53] {Threei} those are not my resp;onsibility
[14:54] {Threei} I never endorsed bootlegging
[14:54] {Threei} (without cutting me my share that is)
[14:56] {nemo} idiot me...when cat lost .90 I also saw the indexes weakening...obvious short
06[14:56] * nemo slaps nemo around a bit with a large sledge hammer
[15:17] {larisa} .
[15:19] {Threei} ..
[15:19] {dptl} ok..here ...
[15:19] {larisa} lol
[15:39] {dptl} nite all
[15:40] {Threei} take care dp
[15:44] {nemo} CAT got time to break the C&H?
[15:44] {Threei} time, yes... gas, not so sure
[15:45] {nemo} bounce near .70?
[15:46] {nemo} nope
[15:46] {Threei} I don't know what to make of this sudden reversal in everything
[15:46] {Threei} it throws off all technical reads
[15:47] {nemo} locking in gains
[15:47] {nemo} although, just got a hammer on cat
[15:48] {nemo} wow
[15:49] {Threei} so... is the room topic right for today?
[15:49] {nemo} Magoo...I think this is for you
[15:50] {Threei} he has no idea where to look for room topic
[15:50] {nemo} Why don't you tell him?
[15:50] {Threei} what for?
[15:51] {nemo} Why not?
[15:51] {Threei} we discuss the room topic, he gets curious, asks where it is
[15:51] {Threei} we don't tell him
[15:51] {nemo} oh
[15:51] {Threei} he feels tortured
[15:51] {Threei} isn't it fun you would expect me to want to have?
[15:51] {nemo} yeah...like clubbing baby seals
[15:52] {nemo} that might have been a bit extreme
[15:52] {nemo} Perhaps the PPT thought a finish above 8000 was just too much
[15:52] {Threei} larisa nailed the day the closest
[15:53] {larisa} 8 more monutes, 40 more points
[15:53] {larisa} O=I
[15:54] {nemo} volumes just a hair above average
[15:59] {larisa} see you tomorrow guys, vad get good sleep :)
[15:59] {Threei} thank you all
[16:00] {Threei} have a great evening, see you tomorrow!
[16:00] {magoo} ty vad..all
[16:00] {vint} thanks Vad, bye all
