Apr 06 2009

Overall nice even so uneven day. some stops, some wins, including nice 50 cents move on RIMM. Closer to end of day we go the market rythm just right by reading the upcoming pattern of shakeout and spike. This pattern repeated itself a few time bringing plays on FAS, WFC, BAC and even such an unlikely candidate as F.

 

Session Time: Mon Apr 06 00:00:00 2009

[08:01] {nemo} GM

[08:13] {Threei}  Good morning sleepless

[08:14] {nemo} you too

[08:14] {Threei}  is there news I don't see on DNDN or people just lost their minds?

[08:14] {cosmo} JAVA too

[08:14] {Threei}  well, JAVA story is clear

[08:14] {Threei}  DNDN is all but

[08:15] {nemo} wishful thinking?

[08:15] {cosmo} JAVA heals?

[08:15] {Threei}  only if there is new suitor on horizon or if IBM indicates it's ready to return to the table

[08:16] {Threei}  04/05/09 05:27pm

[08:16] {Threei}  [JAVA] Sun Microsystems, Inc. Breaks off talks with IBM in recently speculated $7B acquisition - WSJ

[08:16] {Threei}  - Sun's Board has reportedly rejected IBM's offer of $9.40/per share as too low

[08:16] {Threei}  - Unclear whether talks could be reopened, said to be "on brink of collapse"

[08:16] {nemo} RIMM a bit weak 

[08:30] {Threei}  *(CA) CANADIAN FEB BUILDING PERMITS M/M: -15.9% V -4.0%E

[08:30] {Threei}  - Prior M/M revised from -4.6% to -6.0%

[08:30] {Threei}  wow

[08:30] {Threei}  die loonie

[08:30] {cosmo} weather?

[08:31] {larisa} good morning :)

[08:31] {Threei}  estimation takes weather into account

[08:31] {Threei}  larisa :)

[08:31] {larisa} vad, cosmo :)

[08:31] {cosmo} lars:)

[08:35] {larisa} wet snow here.. not much, but unpleasant :)

[08:36] {cosmo} i like snow

[08:36] {cosmo} ...sorry

[08:36] {larisa} lol

[08:38] {Raven} here too larisa ... most unpleasant

[08:38] {larisa} lets send it all to cosmo :)

[08:39] {Raven} I agree

[08:39] {cosmo} :)

[08:39] {cosmo} waiting

[08:39] {Raven} don't hold your breath :)

[08:39] {Threei}  Raven :)

[08:39] {Threei}  flowers in full bloom here

[08:40] {Threei}  and plum trees

[08:40] {Raven} ohforgod'ssake

[08:40] {Threei}  sorry

[08:40] {Threei}  actually... no, I am not

[08:40] {Raven} {------ looking for trout

[08:41] {Raven} actually, the crocus are blooming here ... the dumb ones anyway ...

[08:41] {Threei}  lol

[08:46] {Threei}  DNDN is typical hope stock

[08:46] {Threei}  aka widowmaker

[08:46] {cosmo} JAVA holds 6.50   ...it seems

[08:47] {Threei}  buyers are beting on FDA happy outcome

[08:47] {Threei}  FDA says no, this thing opens at 3 at best

[08:48] {nemo} RIMM could be a play today if the market goes south.  Big gap to close

[08:48] {nemo} Dino kinda' stock

[08:50] {Threei}  is there any over-weekend developments causing gap down?

[08:50] {Threei}  I don't really see any

[08:50] {Threei}  unless I missed them, and this is just a gap, chances are very high for recovery and hew highs

[08:50] {nemo} In RIMM, no?  but, there was such a jump a couple of days ago...plenty of room for profit taking

[08:51] {Threei}  no, I am talking about market

[08:51] {Threei}  RIMM is RIMM

[08:51] {Threei}  95% of the time it goes with market

[08:52] {Threei}  and that room for profit-taking is too obvious and too temntoign to offer real potential

[08:52] {Threei}  tempting

[08:52] {pita} gm everyone

[08:52] {Threei}  pita :)

[08:54] {cosmo} JAVA pre mkt high = 6.80 so far   fwiw

[08:58] {Threei}  04/06/09 07:59am

[08:58] {Threei}  Calyon Analyst Mike Mayo makes negative comments on US banking sector - recap

[08:58] {Threei}  - Banks are expected to continue facing fallout from the credit crunch, with loan losses across all structured asset classes to increase from 2.0% to 3.5% by end of 2010.

[08:58] {Threei}  Future pretax profits will suffer from further wrirtedowns.

[08:58] {Threei}  - US government help remains a wild card as it can both over regulate the industry and can have banks retain toxic assets on balance sheets.

[08:58] {Threei}  - Mark-to-mark accounting will bring only short term relief and does nothing to fundamentally change the situation.

[08:58] {Threei}  - Expects earnings to be below market consensus.

[08:59] {Threei}  00:31am IMF's Strauss-Kahn: Expects the recovery to start in US in the first half of 2010 - Le Figaro

[09:00] {dptl} good morning

[09:01] {Threei}  dp :)

[09:02] {patience} good morning RT   :)

[09:02] {Threei}  patience :)

[09:05] {fernp} Hello everybody

[09:06] {Threei}  fern :)

[09:07] {Threei}  (US) TREASURY EXTENDS APPLICATION DEADLINE FOR TOXIC ASSET PLAN BY TWO WEEKS, TO 4/24

[09:07] {Threei}  - New deadline for legacy security fund managers is 4/24, prelminiary decision to come 5/15

[09:07] {Threei}  - May open program to smaller fund managers following initial approvals.

[09:07] {Threei}  - Fund managers will be chosen on their ability to raise $500M in capital and their level of experience.

[09:07] {Threei}  - Initial fund managers will also need to have $10B in assets under management.

[09:07] {Threei}  - Notes that $25B in TARP funds will be used to expand TALF; $75B for legacy assets and securities will be divided based on market demand.

[09:07] {Threei}  - Legacy securities PPIP will initially include pre-2009, non-agency, non-commercial, residential MBS

[09:07] {Threei}  this sounds very bizarre to me

[09:10] {magoo} morning

[09:10] {Threei}  magoo :)

[09:11] {ese} morning

[09:11] {Threei}  ese :)

[09:13] {dino} gm all

[09:13] {ese} well.....what say ye .......up market ...or....dn market

[09:13] {Threei}  dino, welcome back

[09:13] {ese} dino

[09:14] {KSystems} dino :O)

[09:14] {dino} thx

[09:17] {dino} you make any $ while i was out ?

[09:18] {ese} indeed....best trading week i've ever had

[09:21] {dino} great to hear es

[09:21] {dino} you've been in the zone

[09:22] {ese} tks.....what were you up too/....golfing at Mertle beach

[09:22] {ese} I was last week for sure

[09:22] {elepet} good morning

[09:22] {Threei}  elepet :)

[09:22] {ese} ele

[09:23] {Threei}  DNDN is really crazy

[09:23] {nemo} Any strategy this morning? 3i

[09:23] {Threei}  waiting out first minutes

[09:24] {Threei}  want to get a feel for what mode we are into,

[09:24] {dino} golf and foreclosure mission

[09:24] {Threei}  retreat to encourage bears and shut the trap by rally resumtion

[09:24] {Threei}  or

[09:24] {Threei}  bump onto highs and fall

[09:24] {ese} ahhhh

[09:25] {Threei}  my personal feeling so far is it's the former

[09:25] {Threei}  but we will see

[09:26] {ese} vad can you have a look at JAVA 1 min chart.....thinking about a play if it breaks either side of the .50 to ,70 range

[09:26] {Threei}  makes sense chart wise, ese, but JAVA is also news play

[09:27] {ese} tks......

[09:27] {cosmo} ... which needs to hold 6.50  imo

[09:27] {Threei}  [08:16] {Threei} 04/05/09 05:27pm

[09:27] {Threei}  [08:16] {Threei} [JAVA] Sun Microsystems, Inc. Breaks off talks with IBM in recently speculated $7B acquisition - WSJ

[09:27] {Threei}  [08:16] {Threei} - Sun's Board has reportedly rejected IBM's offer of $9.40/per share as too low

[09:27] {Threei}  [08:16] {Threei} - Unclear whether talks could be reopened, said to be "on brink of collapse"

[09:27] {ese} tks

[09:28] {Threei}  to me, bias is on the short side

[09:28] {Threei}  unless new suitor appears

[09:28] {ese} rats...theres the breakout there...before opening

[09:28] {dino} think it was 4 area before bid

[09:29] {Threei}  yeah, just under 5

[09:31] {Threei} Long Setup:  WFC  .55 break if stays above .40

[09:31] {nemo} thats what I call sitting out a few minutes...sheehs

[09:31] {Threei}  invalidated, and becomes a bounce candidate

[09:32] {Threei}  it is, because this trigger wasn't likely to come around right away

[09:32] {Threei}  but I need to alert you in advance

[09:34] {Threei}  .30 break long if holding .20

[09:35] {dptl} in

[09:35] {Threei}  on the way back?

[09:36] {dptl} stopped

[09:36] {fernp} stopped

[09:37] {dino} lgcy?

[09:37] {magoo} LVS too

[09:38] {Threei}  LVS acts as salmon

[09:38] {dino} going private proposal, lgcy

[09:38] {Threei}  DNDN... sheesh

[09:38] {dino} 14/unit

[09:38] {magoo} DNDN

[09:38] {magoo} sorry

[09:39] {Threei}  (US) SEC'S SCHAPIRO: TO CONVEN ROUNDTABLE ON SHORT SELLING PROPOSALS

[09:40] {wulff} rimm

[09:40] {Threei}  scary one: DNDN .20 break if stays above 7

[09:40] {Threei}  for gamblers only

[09:41] {nemo} Rimm hitting resistance?

[09:42] {nemo} nope

[09:42] {dptl} in dndn .22

[09:43] {dino} amed

[09:43] {Threei}  half out DND above .40

[09:43] {Threei}  and hold second half

[09:43] {Threei}  for something like .60 - .70

[09:44] {Threei}  if you prefer scalp, you don't need my instructions

[09:45] {dptl} cat?

[09:46] {Threei}  no read on CAT

[09:46] {dptl} stopped dndn

[09:47] {Threei}  INVESTOR GEROGE SOROS: PRIMACY OF THE USD IS BEING QUESTIONED, SYSTEM MUST BE REFORMED SO US IS SUBJECT TO SAME DISCIPLINE AS OTHER COUNTRIES

[09:47] {dino} soros was short $ got killed

[09:48] {Threei}  sour grapes?

[09:48] {dino} he always does this when his trades go bad

[09:49] {Threei} Long Setup:  WFC  .40 break if stays above .30

[09:49] {Threei}  if loses it, watch for entry around .20

[09:50] {nemo} oops

[09:52] {Threei}  market still hasn't decided what it wants

[09:53] {Threei}  RIMM is the only thing that knows for sure

[09:54] {Threei}  [08:52] {Threei} that room for profit-taking is too obvious and too tempting to offer real potential

[09:54] {Threei}  earlier comment on RIMM

[09:56] {wulff} come on WFC

[09:58] {Threei}  ROCHDALE INITIATES BAC WITH BUY, PRICE TARGET: $14 (TIMING UNCERTAIN)

[09:58] {Threei}  - likely pre-open

[09:58] {Threei}  hmmm

[09:58] {Threei}  you first rochdale

[09:59] {Threei}  WFC 1:1

[09:59] {Threei}  half out or scalp

[09:59] {fernp} out TY

[09:59] {Threei}  GERN

[09:59] {wulff} took it

[09:59] {Threei}  HEARING STRENGTH BEING ATTRIBUTED TO CHATTER COMPANY MAY RECEIVE GOVT GRANT AND A POTENTIAL ROYALTY DEAL WITH PFE

[09:59] {Threei}  {PFE}

[09:59] {dptl} half out

[10:01] {dptl} where is stop for balance?

[10:01] {Threei}  under .40

[10:01] {dptl} ty

[10:03] {wulff} you see LVS

[10:03] {Threei}  yeah

[10:03] {Threei}  MGM too

[10:03] {wulff} oops for us

[10:04] {Threei}  WFC 1:2

[10:06] {Threei}  GERN has that look

[10:06] {nemo} RIMM looks like it's setting up for a short

[10:09] {dptl} out some more wfc

[10:10] {dptl} stop under .45?

[10:10] {Threei}  US TREASURY" PRINCIPAL RESCUE FUNDS WILL NOT BE PERMITTED TO PURCHASE TROUBLED ASSETS FROM AFFILIATED FIRMS; HEDGING STRATEIGES ALLOWED FOR PROTECTING AGAINST INTEREST RATE RISKS

[10:10] {Threei}  yes

[10:12] {wulff} sheesh RIMM

[10:13] {Threei}  yeah, RIMM is "play against obvious"

[10:13] {wulff} I am still swinging it

[10:17] {Threei}  UAUA unusual strength

[10:17] {wulff} LVS wont pull back

[10:18] {dptl} all out wfc

[10:19] {nemo} ow...look what happened to jnpr

[10:20] {Threei}  JNPR is bounce play here

[10:20] {Threei}  .20 break long if stays above .15

[10:22] {dino}  fwiw, watching trv, cb, amed, afam, idxx

[10:22] {dino} schw too

[10:22] {wulff} how was golf Dino?

[10:23] {dptl} still valid?jnpr?

[10:23] {dino} good time

[10:24] {Threei}  not unless goes through new consolidation

[10:24] {Threei}  a few moves between .15 and .20

[10:24] {dptl} ok ty

[10:26] {dino} schw l .75

[10:26] {dino} stop .63

[10:26] {Threei}  CSIQ

[10:26] {Threei}  WINS BID TO A RURAL ELECTRIFICATION PROJECT IN CHINA

[10:27] {Threei}  TOTAL ORDER SIZE AT 1.6MW

[10:27] {Threei}  - selected in a competitive bidding process to supply solar panels for 80,000 solar home systems for rural households in Sichuan province of China.

[10:27] {Threei}  - This project was initiated and financed by China''s Ministry of Agriculture and the Sichuan Provincial Government. The solar home systems are rated for a peak capacity of 20 Watts each. A system of this size can power two lights and a small TV. The delivery of the 80,000 units will be completed by April.

[10:27] {nemo} RIMM losing a little steam

[10:30] {ese} everything loosing a litle steam

[10:30] {nemo} me too

[10:31] {dino} hl s spy .83, stop .03

[10:33] {Threei}  XING... long time no see

[10:35] {wulff} jnpr bounce

[10:35] {Threei}  MOODY'S REPORT: EASTERN EUROPE WILL SEEL $140B IN DEBTS IN 2009; SOVERIGNS WILL NEED TO REFINANCE FURTHER DEBTS

[10:36] {Threei} Long Setup:  RIMM  .50 break

[10:36] {Threei}  if stays above .35

[10:37] {dptl} in

[10:39] {Threei}  (US) SEC: WILL BE REVIEWING 4 PROPOSALS REGARDING SHORT SELLING RULES

[10:39] {Threei}  2 cents shy of 1:1??

[10:39] {Threei}  come on

[10:39] {dino} cov spy .88, -.05 markets confusing

[10:39] {Threei}  - All open proposals to be reviewed April 8, 2009

[10:41] {Threei}  let's be stingy and trail RIMM to under .40

[10:41] {dino} cb l .44, stop .28

[10:42] {Threei}  BAC gets traction

[10:42] {Threei}  RIMM finally 1:1

[10:42] {dptl} out 2/3

[10:42] {Threei}  half out .70

[10:43] {Threei}  stop to .45

[10:43] {dino} axys

[10:43] {Threei}  out 1/4 more

[10:43] {Threei}  .90, +.43

[10:44] {Threei}  umm... +.37

[10:44] {wulff} good eyes

[10:44] {Threei}  my math abilities...

[10:44] {nemo} must have gone to harvard

[10:44] {dino} gj 3i

[10:44] {Threei}  ty

[10:45] {Threei}  tystop to under .80 last portion

[10:45] {dptl} all out .97 ty

[10:45] {Threei}  offering 62.05

[10:45] {Threei}  BAC

[10:45] {Threei}  pullback to .45 interesting for entry

[10:46] {Threei}  direct hit on RIMM

[10:47] {Threei}  out last part +.52

[10:48] {Threei} Long Setup:  FCFS  .25 break half lot

[10:49] {Threei}  stop under .10

[10:50] {ese} bstop AAPL .00

[10:51] {ese} change that ....get rid of the bystop

[10:51] {ese} gonna go long at .01 APPL

[10:52] {ese} the waqy that thing moves i'd get a crappy fill

[10:52] {Threei}  good-looking setup

[10:52] {ese} Long

[10:53] {nemo} what's your stop Ese?

[10:53] {ese} .80

[10:54] {ese} moves/jumps around like a wildabeast

[10:54] {nemo} or do you mean cudu, ese?

[10:54] {nemo} :)

[10:55] {nemo} go ahead, smack me ese

[10:55] {ese} OUT ..stopped .79.....

[10:56] {ese} piece  ahhhhhhh....^%$^#^%^

[10:56] {Threei}  .79?

[10:56] {ese} obviously the stop was too close

[10:56] {Threei}  I haven't seen any prints there

[10:57] {ese} showed .79 on mine vad so ipulled the trigger

[10:57] {Threei}  weird... bottomed out at .80

[10:57] {nemo} yeah, I see .80 on laser

[10:58] {ese} thats what i got filled at and 200shs at .81

[10:58] {Threei}  hate to say it but it looks like your broker is, ummm

[10:58] {ese} ya....i'm not really happly with these people

[10:59] {dino} schw stop to .87

[11:00] {magoo} vbad FCFS..u want to see the ,25 eaten up 

[11:00] {dino} out schw .89, +.14

[11:00] {ese} gonna give it another shot at .00 though....i think....Q's look to be botoming out

[11:00] {Threei}  that big offer must be taken

[11:00] {nemo} think it's real?

[11:01] {dino} or is it memorex

[11:01] {Threei}  you with your thinking thingy again... {G}

[11:01] {nemo} that's "live"

[11:01] {nemo} ah geez

[11:01] {Threei}  it is or it is not...

[11:02] {nemo} I was better off when I was following the other thingy around

[11:04] {nemo} remember the glass breaking commercial, Dino, ese

[11:05] {dino} cb stopped -.16

[11:06] {dino} waiting

[11:06] {dino} gaps around 7776, 1252, 811

[11:08] {magoo} is there news AAPL vad?

[11:08] {Threei}  nothing fresh

[11:09] {magoo} ok..just rotting with mkt

[11:09] {dino} cb rinse

[11:11] {Threei} Short Setup: CAT  .62 if stays under .70

[11:11] {dptl} in

[11:12] {Threei}  1:1, covering half

[11:13] {Threei}  stop to .66

[11:13] {Threei}  scalpers are scalpers

[11:15] {dptl} didnt get my .50.....may be now?

[11:16] {Threei}  hard to tell, matket shows some strength

[11:16] {Threei}  CAT stays inept though

[11:18] {dptl} stopped

[11:18] {magoo} u like RIMM for a bounce??

[11:22] {Threei}  not sure

[11:25] {magoo} i took .59

[11:26] {nemo} nice mags

[11:28] {dino} cb l .20

[11:30] {magoo} out .75

[11:31] {Threei}  wtg

[11:31] {magoo} may reload it

[11:31] {dino} axys sm l .85

[11:31] {magoo} prob going to 63 today

[11:34] {dptl} ah...cat cat cat....o well

[11:34] {dino} amed sm l .00

[11:34] {ese} L AAPL 

[11:34] {ese} .98

[11:35] {ese} stop will be .80 again

[11:38] {ese} MMMMAAAAAAGGGGGGGGSSSSS.....how in the H...do you trade this stock

[11:39] {ese} not stopped yet

[11:40] {dino} lol ese, thats my white whale

[11:41] {ese} great....now ya tell me

[11:42] {dino} amed stopped

[11:43] {ese} FHHHHHHHHHH.............no comment

[11:44] {nemo} How's it going quequag

[11:45] {ese} had enough of fat APPL for the day.........

[11:48] {magoo} i havent touched it today

[11:51] {dino} cb stopped done w/it

[11:54] {Threei} Short Setup: RIMM  .50 break if stays under .65

[11:56] {ese} I may never touch it again......

[11:56] {dptl} in rimm

[11:56] {nemo} in

[11:57] {magoo} in

[11:58] {Threei}  not a scalp to me

[11:58] {Threei}  there is a lot of air under this support

[11:58] {Threei}  stop is tight enough, want to try and squeeze a bit more out of it

[11:59] {Threei}  we got 50 cents out of RIMM on a long side

[11:59] {Threei}  don't see any reason not to try for comparable move on the short

[11:59] {dino} trv l .70

[12:01] {Threei}  market suddenly strengthened

[12:02] {magoo} out

[12:02] {magoo} .60

[12:02] {Threei}  market suddenly weakened

[12:05] {Threei}  market turned into water torture

[12:05] {nemo} waterboarding

[12:06] {Threei}  no worky RIMM

[12:06] {dptl} stopped rimm

[12:08] {dptl} gonna take a break...

[12:19] {Threei}  CITIGROUP: JAVA/IBM HAS BETTER ODDS OF GETTING DONE BECAUSE JAVA IS NOT LIKELY TO FIND ANOTHER BUYER - TIMING UNCERTAIN

[12:19] {Threei}  {IBM}

[12:19] {nemo} going for your title again Vad

[12:19] {Threei}  if they are not likely to find anothe suitor, why did they reject the offer

[12:20] {nemo} Yahooitis

[12:20] {Threei}  exactly

[12:20] {nemo} scary

[12:20] {Threei}  YHOO offer by MSFT was what, in 30s?

[12:20] {nemo} 33

[12:20] {Threei}  heh

[12:20] {nemo} think so

[12:23] {Threei}  wqatching FAZ for pullback into 17, for long entry

[12:25] {Threei}  MCO

[12:25] {Threei}  TICKS LOWER AFTER CONNECTICUT AG CONFIRMS PROBE INTO MAJOR RATINGS AGENCIES

[12:25] {Threei}  {MHP}

[12:25] {Threei}  poor Moody

[12:26] {Threei}  quite tempting to short

[12:26] {ese} Long FITB avg .10

[12:26] {Threei}  .50 closest resistance

[12:26] {Threei}  .43 current low

[12:26] {Threei}  8-10 cents stop

[12:26] {dptl} mco?

[12:27] {Threei}  yes

[12:28] {Threei}  if goes above .50, just ignore it, hard to tell how much of the news is priced in

[12:29] {dino} they are finally getting to this ratings garbage

[12:31] {dptl} Vad..still waiting for fcfs?

[12:32] {Threei}  funny but yes

[12:32] {dptl} consolidating .20-.25 now

[12:33] {Threei}  well, .20 is way to tight for this stock

[12:33] {magoo} RIMM animal

[12:33] {Threei}  no kidding

[12:34] {Threei}  can you think of better illustration of going against the obvious?

[12:34] {magoo} 63 easy today

[12:35] {nemo} 63.10 or thereabouts was the high on Friday

[12:38] {Threei}  grrr

[12:38] {Threei}  missed FAZ

[12:38] {Threei}  got distracted by going over other charts

[12:38] {Threei}  anyone got it near 17?

[12:41] {magoo} not ui

[12:41] {magoo} i

[12:42] {nemo} no volume to speak of today

[12:46] {Threei}  yes... and if stays trhis way, it's a rally continuation in the making

[12:47] {nemo} yep

[12:50] {dino}  trv stop to .82

[12:54] {magoo} rimm gonna do it'

[12:54] {magoo} in .60

[12:54] {dptl} missed it lol fcfs

[12:55] {dptl} waiting all morning and missed

[12:56] {dino} trv to .92

[12:56] {magoo} rimm exit .93 waiting

[12:57] {dino} out trv .95, +.25

[12:57] {magoo} out RIMM

[12:58] {magoo} ty vad

[12:58] {Threei}  sure thing

[12:58] {Threei}  lol

[13:00] {magoo} AAPL wants greenland

[13:00] {Threei}  (IA) IRANIAN PRES AHAMADINEJAD: PREPARED FOR CREATION OF A REGIONAL CURRENCY

[13:00] {Threei}  FED'S WARSH: PANIC IS ABATING'

[13:01] {Threei}  out FCFS

[13:01] {magoo} es gionna be mad..in aapl from .38

[13:01] {Threei}  .44 and .42

[13:01] {magoo} my first time

[13:02] {Threei}  we already know dp slept though its break... anyone got it?

[13:02] {dptl} out vmc+.25...... out cat +.22

[13:02] {Threei}  okay... you are vindicated :)

[13:02] {dptl} :)

[13:05] {ese} hey mags....god luck with it

[13:05] {dptl} l dndn.68

[13:05] {ese} i'm outa here for the day all...see ya tomorow....still long FITB

[13:05] {magoo} im waiting .87

[13:05] {Threei}  take care ese

[13:12] {dptl} out dndn +.14

[13:12] {Threei}  dp got his game back

[13:12] {dptl} positive now

[13:12] {magoo} kickin AAPL

[13:12] {magoo} ouch

[13:12] {Threei}  that's some kick

[13:12] {magoo} hurt myself

[13:15] {dptl} fcfs nice....waiving me back from up there..

[13:15] {magoo} vad..help kick it

[13:18] {magoo} vad.............assistance paalllllease

[13:18] {Threei}  I am trying mags

[13:18] {magoo} u using spiked boots?

[13:18] {Threei}  but I confused sides and kicked it in the front I suspect

[13:18] {Threei}  so gottaundo the damage first

[13:21] {magoo} ah..TY OUT

[13:21] {magoo} .85

[13:21] {Threei}  whew

[13:21] {magoo} was out there..never even saw it print but heard it

[13:22] {Threei}  because of original mistake I had to do double amount of kicking

[13:22] {magoo} was wonderin why it dropped

[13:22] {Threei}  sorry

[13:22] {Threei}  but they should wear some kind of brooch

[13:22] {Threei}  indicating the front

[13:38] {Threei}  US DEFENSE SEC GATES DISCLOSES DETAILS OF PENTAGON BUDGET PROPOSALS; INCREASING BUDGET $300B OVERALL

[13:38] {Threei}  - LMT's Presidential Helicopter program to be ended, F-22 program to be halted at 187 jets

[13:38] {Threei}  - Boeing's airborne laser to be limited to one test plane

[13:38] {Threei}  LMT dropped like a stone of that

06[13:45] * magoo slaps laserdave around a bit with a large trout

[13:46] {Threei}  why not

06[13:46] * Threei slaps laserdave around a bit with a large magoo

[13:47] {magoo} arte u calling me "large"?

[13:47] {Threei}  purely for the purpose of slapping

[13:49] {nemo} market's making a comeback

[13:53] {dptl} long dndn .86 

[13:53] {Threei}  XING

[13:53] {Threei}  AGREE TO PURCHASE FROM THE THREE NOTEHOLDERS ALL OF THE OUTSTANDING CONVERTIBLE NOTES OF QIAO XING MOBILE COMMUNICATION CO., LTD.

[13:53] {Threei}  XING is moving on that

[14:00] {Threei}  out of finnies, BAC looks stronger

[14:00] {Threei}  if they finally get game, this would be my choice

[14:02] {magoo} if they get going i like jpm

[14:02] {magoo} can be a mover

[14:02] {magoo} but not asnasty as GS

[14:12] {Threei}  don't know mags

[14:13] {Threei}  not the strongest one

[14:13] {magoo} WFC trying vad

[14:14] {Threei}  this one is holding better than your average finnie

[14:14] {Threei}  still, neds general upward thrust

[14:14] {Threei}  needs

[14:16] {dptl} stopped dndn -.08

[14:16] {Threei}  trying to determine my take on F

[14:17] {Threei}  chart wise 3.50 break was a long trigger

[14:17] {Threei}  considering how it's in the center of all the political/financial storms, wasn't so sure

[14:17] {Threei}  but it does hold nicely so far

[14:18] {Threei}  looks like the only game in town to remain trading among automakers

[14:18] {Threei}  so money pours in

[14:18] {magoo} WFC WFC

[14:20] {Threei}  ICE

[14:20] {Threei}  REACHES MILESTONE WITH CDS; CLEARS $70B IN NORTH AMERICAN CDS IN FIRST FOUR WEEKS

[14:20] {Threei}  - COO "The first month of CDS clearing operation represents an important milestone for the financial markets in reducing systemic risk, and was due in large part to efforts by the industry and regulators to increase confidence, transparency and standardization,"

[14:20] {Threei}  I don't get it

[14:21] {Threei}  how come this thing doesn't move on getting CDS business

[14:21] {Threei}  - ICE began clearing CDS index contracts on March 9 through ICE Trust

[14:21] {Threei}  - ICE Trust cleared 613 transactions totaling $71B of notional value, and resulting in $12.7B of open interest

[14:24] {magoo} vad..the question of the day

[14:24] {Threei}  up or sideways

[14:25] {Threei}  with 55/45 in favor of up

[14:26] {dino} doesn't make sense, obviously business has grown, thats 71 b they never had

[14:27] {Threei}  that's how I see it

[14:27] {Threei}  yes stock won't react

[14:27] {Threei}  yes = yet

[14:30] {Threei}  F... feels to me like this thing wants to close over 4

[14:32] {Threei}  mags

[14:33] {Threei}  if you want WFC, this pullback is it

[14:33] {Threei}  first sttrength from here, stop under .30 or .25

[14:34] {Threei}  for ultra-hard-core-scalpers, stop .39... but that's a rare breed

[14:34] {dino} schw l .80 stop lod

[14:35] {Threei}  I mean, thnouse whould have boguth 1 zillion shares and sold them at .44-.45 already {G}

[14:40] {Threei}  okay... if my feel for the end of day is right, market is about to start ramping up

[14:40] {Threei}  and if wrong then, accordingly, not

[14:41] {nemo} well if you're wrong, it'll either be flat from here or down

[14:41] {Threei}  feels to me like last shakeouts before reversing to the upward and leaving hesitant crowd in the dust

[14:42] {dptl} any candidates?

[14:42] {Threei}  WFC, as long as holding above .30

[14:42] {magoo} how about RIMM?

[14:43] {nemo} what .40?

[14:43] {Threei}  RIMM yes in general but can't find a setup on it

[14:43] {Threei}  closest support is .15 but it's not very reliable

[14:44] {Threei}  simply up with market or down with market kjind of thing

[14:44] {dptl} in wfc .41

[14:44] {Threei}  WFC, again if I am right, going to return to .50 and break it

[14:44] {magoo} right..but if mkts powerup..64 and nmear 65

[14:45] {cosmo} JAVA 6.66 test?

[14:45] {Threei}  JAVA

[14:45] {Threei}  - ICE began clearing CDS index contracts on March 9 through ICE Trust

[14:45] {Threei}  - ICE Trust cleared 613 transactions totaling $71B of notional value, and resulting in $12.7B of open interest

[14:45] {Threei}  hmm

[14:45] {Threei}  S&P PUT RATINGS ON ON CREDITWATCH DEVELOPING

[14:45] {Threei}  just out on JAVA

[14:45] {fernp} stop in WFC is still below .30?

[14:46] {Threei}  there are two support levels on WFC, .30 and .25

[14:46] {Threei}  both ar valid

[14:46] {fernp} ty

[14:46] {Threei}  F... unusual play... .90 break

[14:46] {Threei}  very much feels to me like wants to go over 4

[14:48] {dptl} in .91 f

[14:48] {Threei}  also, if market really starts inching toward the highs, GE is another candidate

[14:48] {dptl} stop under .80 f?

[14:48] {Threei}  yes

[14:48] {Threei}  hard to find setup on GE, too much digestion

[14:49] {Threei}  let's say .96 with stop under .90

[14:49] {Threei}  but may require a few tries

[14:49] {Threei}  see the market

[14:49] {Threei}  ?

[14:49] {Threei}  those sharp red bars were fakeouts

[14:50] {Threei}  scare last handful of fearful, and depart leaving them on the station

[14:50] {Threei}  WFC nears .50

[14:51] {Threei}  F high .98 so far

[14:51] {Threei}  will gnaw on it and will chew through it, IMO

[14:51] {Threei}  GE over 11

[14:52] {Threei}  market spike

[14:52] {Threei}  am I good or what

[14:52] {Threei}  modest too

[14:52] {Threei}  WFC .50 be taken

[14:53] {Threei}  maybe with one more pullback, but it will take it

[14:53] {Threei}  GE went nice over 1:1

[14:54] {dino}  good read vadster

[14:54] {Threei}  ty

[14:54] {Threei}  RIMM moved nicely

[14:54] {Threei}  I bet mags grabbed that one

[14:55] {dino} yes

[14:55] {Threei}  really?

[14:55] {Threei}  how did I know :)

[14:56] {Threei}  F

[14:56] {Threei}  new high

[14:56] {magoo} :)

06[14:56] * Threei slaps magoo around a bit with a large chart of uptrending market

[14:56] {magoo} i think 65 today

06[14:57] * Threei slaps dptl around a bit with a large troika of winning calls in a row

[14:57] {Threei}  next spike is coming

[14:57] {Threei}  ugh.... ese would appreciate F call with 10K lot

[14:58] {Threei}  he would have made hiw $1,000 on this one

[14:58] {dptl} can't get m6y 4

[14:59] {nemo} tell wfc to give up 1:1

[14:59] {nemo} thank you

[14:59] {Threei}  it just did

[15:00] {nemo} ge on pullback vad

[15:01] {Threei}  closer .95

[15:01] {Threei}  hesitant here

[15:02] {dino} out gxdx .,93 +.13

[15:03] {dptl} i scrud up wfc....0

[15:03] {dptl} stil in ford

[15:05] {dptl} my god....why am i doing this...........out flat ford

06[15:05] * dptl slaps dptl around a bit with a large trout

[15:05] {nemo} you like pain?

06[15:06] * larisa slaps nemo around a bit with a large trout

[15:06] {dptl} down again ....

[15:06] {Threei}  come on...

[15:07] {Threei}  3 calls, ones to 1:2 almost, one to 1:1, one to almost 1:1

[15:07] {Threei}  and even now as we speak all three are above entry points

[15:07] {Threei}  how do you lose on that??

[15:07] {Threei}  nice ambush larisa

06[15:08] * nemo tickles larisa with a large feather

[15:08] {larisa} just protecting dp a little

[15:08] {larisa} wow

[15:08] {nemo} you hurt my feelings.

[15:08] {larisa} lol

[15:09] {dino} man that ice drops like pulp

[15:10] {dino} hang in there dp, don't overstay or overthink

06[15:11] * nemo was only asking dptl a question LARISA!

[15:13] {Threei}  anyone understands that XING news?

[15:13] {Threei}  if it's really significant, then by chart it's ready for re-entry

[15:13] {Threei}  [13:53] {Alert} Threei XING

[15:13] {Threei}  [13:53] {Alert} Threei AGREE TO PURCHASE FROM THE THREE NOTEHOLDERS ALL OF THE OUTSTANDING CONVERTIBLE NOTES OF QIAO XING MOBILE COMMUNICATION CO., LTD.

[15:14] {Threei}  - Signed agreement to purchase from the three noteholders (DKR SoundShore Oasis Holding Fund Ltd, CEDAR DKR Holding Fund Ltd and Chestnut Fund Ltd) $30M of the outstanding convertible notes in principal of Qiao Xing Mobile Communication Co., Ltd ("Qiao Xing Mobile") for an aggregate purchase price of $24M

[15:14] {nemo} FAS coming into support

[15:14] {Threei}  WFC too

[15:15] {nemo} bounce play on either?

[15:15] {Threei}  on all of them, if market reverses

[15:15] {Threei}  F too

[15:16] {Threei}  GE is one of the stronger

[15:16] {dino} amed l .21

[15:17] {magoo} what a BLITZ in mkts

[15:17] {nemo} left me behind

[15:17] {Threei}  all pullbacks are shakeouts

[15:17] {Threei}  anyone got any of those?

[15:17] {fernp} no here

[15:18] {dawg} got WFC ty Vad

[15:18] {Threei}  WFC and FAS were the most spectacular

[15:18] {Threei}  dawg :)

[15:18] {dawg} Yes

[15:19] {Threei}  MEREDITH WHITNEY: NOT BULLISH ON FINANCIALS; REITERATES WOULD TAKE SOME BANK SHORTS OFF TABLE AHEAD OF EARNINGS - CNBC

[15:19] {nemo} is that what did it?

[15:19] {Threei}  not sure

[15:21] {Threei}  http://finance.yahoo.com/techticker/article/225897/Geithner's-Stress-Test-

[15:23] {Threei}  one more pullback and next spike is coming

[15:25] {Threei}  MEREDITH WHITNEY: NOT BULLISH ON FINANCIALS; REITERATES WOULD TAKE SOME BANK SHORTS OFF TABLE AHEAD OF EARNINGS - CNBC

[15:25] {Threei}  - sees bank issues languishing into 2010, banks may make money in Q1

[15:25] {Threei}  - Forecasting Peak to trough housing price decline of 50% (40% prior forecast); sees the recent 'recovery' in housing as the 'head fakes of all head fakes

[15:25] {Threei}  STT??

[15:28] {Threei}  JAVA

[15:28] {Threei}  REPORTEDLY COMMITTED TO GROWTH STRATEGY; LEADERSHIP STAFF

[15:28] {Threei}  uhhu

[15:29] {Threei}  "we screwed up, what else can we do now but yap about our grows strategy"

[15:29] {magoo} RIMM 

[15:30] {magoo} out RIMM .96

[15:30] {magoo} :)ty boss

[15:31] {Threei}  hmmm

[15:31] {Threei}  okay... welcome

[15:31] {magoo} 65 comith

[15:31] {magoo} back in .64

[15:31] {magoo} out .24 lol

[15:32] {Threei}  this is quite the way for the market to shake out

[15:33] {Threei}  look how often it did it today

[15:33] {Threei}  gut-wrenching pullback, then sudden spike

[15:33] {dptl} out dndn+.10 +.17......

[15:33] {magoo} nice read on market shake and bake vad

[15:35] {Threei}  HIG

[15:35] {Threei}  one more strng candidate

[15:35] {Threei}  most likely for tomorrow

[15:37] {dptl} have a good evening all.....

[15:37] {nemo} Things slowing?

[15:37] {larisa} bye dp

[15:37] {Threei}  take care dp

[15:37] {dino} gj dp

[15:38] {Threei}  not necessary slowing, but become less readable

[15:38] {nemo} WFC didn't want to broach .50 in any meaningful way

[15:38] {Threei}  end of day is likely to be

[15:38] {Threei}  nervous

[15:38] {nemo} then I'm in tune with the market

[15:38] {Threei}  preotect ya tings, as they say in the Bahamas

[15:38] {nemo} is there a market condom?

[15:38] {nemo} whoa!

[15:39] {nemo} wfc lost it's tings

[15:39] {nemo} bounce on this

[15:42] {cosmo} LGCY 13 test

[15:42] {cosmo} wall

[15:43] {Threei}  PALM looks impressive, I have to say

[15:44] {Threei}  with any market/RIMM help, thing is aiming for 10

[15:44] {Threei}  ting

[15:44] {dino} out schw .92, +.12

[15:50] {Threei}  so far, read was correct: sideways to upside

[15:50] {magoo} yes..and very helpful TY'

[15:51] {Threei}  you are welcome

[15:51] {Threei}  {--- is unusually and uncharacteristrically polite

[15:51] {magoo} i can trade those remarks

[15:51] {magoo} and do

[15:51] {Threei}  I know

[15:51] {Threei}  tyou manage to derive something out of them

[15:51] {Threei}  comes with experience

[15:52] {magoo} thats why i ask everyday

[15:52] {dino} vad singing hendricks' are you experienced

[15:52] {magoo} not to bother u..u seem to have very good read on these things

[15:53] {magoo} arca down

[15:53] {Threei}  closes at high

[15:54] {Threei}  PALM

[15:55] {magoo} bats down..arca down

[15:55] {Threei}  hmm?

[15:56] {nemo} bad weather in the NE

[15:56] {magoo} exchanges 

[15:58] {Threei}  nice close and nice volume increase into upward march

[15:58] {Threei}  looking forward for tomorrow's resumption

[15:58] {dino} axys out .96, +.19 all day

[15:59] {Threei}  better than p[oke in the eye

[15:59] {Threei}  okay guys, thank you all

[15:59] {larisa} later all :)

[15:59] {Threei}  have a good evening, see you tomorrow