Jun 12 2009

Positive day but somewhat disconnected. Trades would appear with no "flow" so to speak. Or maybe it's just Friday.

Session Time: Fri Jun 12 00:00:00 2009

[08:21] {pita} gm everyone

[08:21] {Threei}  morning pita

[08:21] {nemo} hey pain!

[08:21] {pita} Captn!

[08:22] {Threei}  SVNT... sheesh

[08:26] {vinod} GM everyone

[08:26] {nemo} Vino :)

[08:27] {Threei}  vinod :)

[08:27] {nemo} cpst spit the bit

[08:28] {vinod} I brought at 1.23 1k

[08:28] {Threei}  went up nicely after the closer

[08:28] {nemo} yes, up to 1.42 I think

[08:29] {vinod} nemo-got email no raise in 2010, got nothing in 2009 but 5% pay cut

[08:29] {vinod} and economy is improving?

[08:29] {nemo} you're one of the lucky ones

[08:29] {nemo} of course not, just falling slower.  

[08:30] {nemo} It went over the cliff, and landed on a downward sloping lower cliff

[08:30] {nemo} We're sliding toward the edge again

[08:30] {vinod} don't trust pre-market

[08:30] {nemo} I used to swim at the Quincy Quarries before they drained them

[08:31] {nemo} From experience, if the economy starts falling from a great height and hit's water instead of ground, it still hurts...alot.

[08:31] {vinod} will be back by 9.30

[08:49] {nemo} consumer sentiment in a few minutes

[08:53] {Threei}  hmmm

[08:53] {Threei}  Friday, June 12, 2009 8:19:41 AM

[08:53] {Threei}  Savient Pharmaceuticals Inc. Hearing strength attributed to chatter surrounding FDA staff report released on Krystexxa FDA application ahead of FDA advisory panel meeting next week

[08:53] {Threei}  - follow up: FDA staff report states it believes Krystexxa is effective at the proposed dosing, but there are some concerns regarding safety profile of the gout drug. Safety issues include potential heart problems and allergic reactions.

[08:56] {magoo} morning

[08:56] {nemo} Magus :)

[08:56] {nemo} How much longer for the ankle?

[08:57] {Threei}  magoo :)

[08:58] {magoo} oh..ty for asking

[08:59] {magoo} ive been limping around no cast or crutches since last saturday

[09:02] {Threei}  what do I miss about SVNT... what's on wires doesn't look all that rosey

[09:02] {nemo} so the market is supposed to be logical?

[09:05] {cosmo} hmmm...logical ... makes cents to me....

[09:08] {fernp} good morning everybody

[09:08] {Threei}  fern :)

[09:08] {dino} gm all

[09:08] {Threei}  dino :)

[09:16] {ese} good morning

[09:17] {Threei}  ese :)

[09:18] {ese} "whats the buzz tell me whats a happenin".....repeat that line 4 times....JC superstar opera

[09:19] {ese} remember that?

[09:19] {cosmo} missing bees?

[09:20] {ese} indeed 

[09:20] {cosmo} :)

[09:22] {ese} just about slept throught the opening......we looking at anything in particular

[09:22] {nemo} svnt cpst 

[09:23] {Threei}  SVA

[09:23] {nemo} alti

[09:23] {Threei}  ALTI

[09:23] {nemo} whoa

[09:23] {Threei}  what?

[09:23] {Threei}  I don't watch WHOA

[09:23] {nemo} the pididdle

[09:24] {dino} rmbs

[09:25] {cosmo} acas

[09:26] {dptl} good morning all

[09:26] {Threei}  Thursday, June 11, 2009 10:50:43 PM

[09:26] {Threei}  Rambus Inc Confirms tentative settlement with European Commission

[09:26] {Threei}  - The company announced that it has reached a tentative settlement with the European Commission (the Commission) to resolve the pending case against the Company.

[09:26] {Threei}  - Under the proposed resolution, the Commission would make no finding of liability relative to JEDEC-related charges, and no fine would be assessed against Rambus. In addition, Rambus would commit to offer licenses with maximum royalty rates for certain memory types and memory controllers on a forward-going basis.

[09:26] {Threei}  dp :)

[09:26] {cosmo} ACAS: 3.70 pre mtk high fyi

[09:27] {Threei}  so, what's the reasoning to short SVNT by realmoney?

[09:27] {nemo} the guy said so

[09:29] {ese} i like the dividend angle cos......

[09:29] {ese} some stock yestereday just when shooting up on that kinda news

[09:30] {magoo} its a call to short open..then reenter long later

[09:30] {Threei}  scary guy

[09:31] {magoo} well..its working

[09:32] {dino} lol

[09:32] {Threei}  good luck doing that...

[09:33] {magoo} finnies ripped up against naz

[09:34] {nemo} might be on that "profit" earned by the citizens on their CITI investment

[09:34] {magoo} dive RIMM vad

[09:34] {dino} rmbs sm s .15

[09:35] {Threei}  wanna have a look at SVNT?

[09:35] {magoo} ya

[09:35] {Threei}  poor shorts

[09:36] {magoo} he said then buy it 

[09:36] {Threei}  sigh

[09:36] {Threei}  I'll provide same kind of calls from now on

[09:36] {Threei}  buy RIMM then short it

[09:36] {Threei}  there, 5 cents uptickj

[09:37] {Threei}  and 7 cents downtick now

[09:37] {Threei}  I was right

[09:37] {magoo} ty he he

[09:37] {Threei}  oh you are very welcome

[09:38] {magoo} FOCUS

[09:38] {magoo} look RIMM

[09:38] {dino} take a chill vad

[09:38] {Threei}  HIG Exec: TARP is still being evaluated, not yet decided

[09:38] {Threei}  - Reminder: HIG was among certain insurers deemed eligible to receive TARP

[09:39] {dino} crazy to take it

[09:39] {dino} or desparate

[09:39] {Threei}  serious dump HIG

[09:39] {Threei}  FITB on the other hand...

[09:40] {ese} yes am waiting for a pullback there vad

[09:41] {ese} bac and wfc up also

[09:41] {Threei}  SVNT will trade higher today

[09:41] {Threei}  it's a trap for shorts

[09:41] {Threei}  too bad it's so volatile, hard to control risk

[09:42] {Threei}  prepared alert twice for 8.90 break, and backed off

[09:43] {nemo} what was your stop on rmbs dino?

[09:43] {Threei}  ALTI is breaking

[09:43] {dino} .53 still in

[09:43] {nemo} nice

[09:44] {dino} time will tell

[09:44] {nemo} at the moment of course

[09:45] {Threei}  who took it overnight, keep stop at .97

[09:45] {dino} ;)

[09:45] {vinod} CPST moving

[09:46] {Threei}  CPST, offer half somewhere between 1.40 and 1.50, IMO

[09:46] {Threei}  stop under 1.10

[09:46] {cosmo} jaso

[09:48] {Threei}  who never took ALTI but liking it now - try to get it on pullback, as long as it doesn't lose .97

[09:49] {dino} payx sm s .51

[09:50] {dino} stop .83

[09:50] {dino} qcom sm l .50, stop .17

[09:51] {Threei}  half out ALTI

[09:52] {cosmo} jaso 5.80 test soon

[09:53] {ese} no clear direction markets

[09:53] {dino} gut says down

[09:54] {ese} michigan confidence out in a couple of minutes

[09:54] {ese} have same feeling dino

[09:54] {nemo} that should be interesting with gas and oil

[09:54] {dino} throw gut out then

[09:54] {ese} indeed

[09:55] {cosmo} jaso needs to hold 5.70 i think

[09:55] {Threei}  JUNE PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 69 V 69.5E

[09:55] {nemo} 69...gotta' turn around

[09:55] {ese} dn it is

[09:56] {vinod} is it better than expected?

[09:56] {nemo} slightly worse

[09:57] {Threei}  HIG...

[09:57] {Threei}  not ready yet but watching

[09:57] {dino} rmbs stopped -.38

[09:58] {dino} payx bstop to .40

[10:00] {dino} qcom stopped -.33

[10:02] {ese} is acas a bank

[10:03] {dino} cov payx .20, +.31

[10:04] {Threei} Long Setup:  CPST  first strength if stays above .15

[10:07] {Threei}  GNBT Awarded Five New Patents for Its Proprietary Drug Delivery Systems

[10:07] {Threei}  - The patents provide additional protection for Generex''s proprietary compositions and me... (14.00, -0.07, -0.50%) more...

[10:08] {dino} acas, not bank, business iincubator type co.

[10:08] {Threei} Long Setup:  SVNT  on pullback from here, try to get 9.10 ara

[10:08] {Threei}  half lot

[10:09] {dino} intc gap fill from monday

[10:11] {ese} daaaaaa svnt....not coming back

[10:11] {nemo} observant

[10:12] {ese} tks.....pride myself in that

[10:13] {dino} last try, qcom .20 sm l stop .93

[10:14] {vinod} Boss any interest CRXX

[10:15] {Threei}  CombinatoRx Incorporated Presents Full Data on Synavive Phase 2 Knee OA Trial at EULAR 2009

[10:15] {Threei}  - Co announced the presentation of full data on Synavive (CRx-102) Phase 2 knee osteoarthritis (OA) trial (COMET-1) at EULAR 2009, the Annual European Congress of Rheumatology in Copenhagen on June 12, 2009.

[10:15] {Threei}  hmm

[10:16] {Threei}  hard to tell

[10:16] {ese} sqnm

[10:17] {Threei}  yeah, SQNM found new interest

[10:17] {Threei}  probably not CRXX

[10:17] {dino} cnqr

[10:18] {Threei}  here comes decent pullback SVNT

[10:18] {dino} too fast

[10:20] {Threei} Long Setup:  SQNM  .65

[10:20] {nemo} too fast

[10:20] {Threei}  stop under .55 for scalpers, under .50 for day traders

[10:22] {ese} rats....missed it

[10:22] {Threei}  1:1 for scalpers

[10:22] {ese} nice one vad

[10:23] {Threei}  SVNT

[10:23] {Threei}  first strength from here if stays abovwe 9

[10:24] {Threei}  half lot remember

[10:24] {Threei}  in

[10:25] {Threei}  SQNM 1:1 for daytraders

[10:28] {ese} L drys .02

[10:28] {Threei}  SVNT no worky

[10:29] {ese} need q's help for drys

[10:33] {jfjf64} mornin all

[10:33] {nemo} jf

[10:34] {Threei}  jf :)

[10:34] {Threei}  CPST, not good

[10:34] {Threei}  .15 was today's support

[10:39] {dino} qcom stop to .50

[10:41] {Threei} Long Setup:  HIG  .06

[10:41] {Threei}  if stays above 13

[10:42] {ese} market reversal....good good

[10:42] {dino} qcom to .55

[10:43] {Threei}  HIG half out

[10:43] {Threei}  pesky scalpers got what they want

[10:43] {dino} to .65

[10:43] {jfjf64} ty

[10:44] {dino} cnqr sm l .80

[10:45] {jfjf64} l axp .62 tgigger

[10:45] {dino} out qcom .75, +.55

[10:45] {Threei}  HIG 1/4 more out

[10:46] {jfjf64} axp invalid

[10:46] {jfjf64} hig ty

[10:47] {Threei}  welcome

[10:50] {nemo} stop to .15 on hig?

[10:50] {Threei}  hmmm

[10:50] {Threei}  I am tempted to keep it at b/e for the last piece

[10:51] {Threei}  and do next trail only if it makes new high

[10:51] {nemo} the Canadian Grasshopper is back

[10:51] {Threei}  which would be about .30

[10:51] {_grasshopper} Good morning all

[10:51] {Threei}  it has nice potential still,

[10:51] {Threei}  and we protected a whole lot of profit

[10:51] {Threei}  grasshopper :)

[10:51] {_grasshopper} How did you know I was CND?

[10:52] {ese} gas hooper.........

[10:52] {nemo} when you sign on:[10:50] * _grasshopper (Mibbit@jtc-ada2aebd.cable.rogers.com) has joined #discussions

[10:52] {nemo} Rogers is Rogers Cantel=Canadian telecom

[10:52] {_grasshopper} smart Nemo

[10:52] {nemo} broken clock=right twice a day

[10:52] {_grasshopper} ain't that the truth

[10:53] {dino} sm l pnra .00

[10:53] {nemo} When I was in telecom, they were a customer for the billing system on which I worked

[10:53] {ese} you one of us canuks grasshopper?

[10:53] {_grasshopper} I am 

[10:53] {_grasshopper} and proud of it

[10:53] {nemo} maybe a locust

[10:54] {_grasshopper} NO

[10:54] {ese} where abouts....victoira for me

[10:54] {nemo} nothing wrong with locusts

[10:54] {_grasshopper} Ontario

[10:54] {nemo} that narrows it down

[10:54] {ese} ahhhhhhhhhh

[10:54] {_grasshopper} locusts are creepy so are praying mantises

[10:54] {nemo} I think they're cool.  Found a couple of huge mantises last year

[10:55] {ese} my relatives live in Kenora on Lake of the Woods

[10:55] {_grasshopper} I almost picked one up once as a kid thinking it was a stick and it spooked me

[10:55] {nemo} They do that to a lot of people

[11:00] {vinod} HIG again?

[11:00] {nemo} following the market

[11:02] {vinod} yes

06[11:03] * nemo slaps _grasshopper around a bit with a large ugly, vicous, praying mantis

[11:03] {Threei}  grasshopper look private message please

[11:06] {_grasshopper} where?

[11:07] {Threei}  see where channel names are,

[11:07] {nemo} you in mibbit or mirc?

[11:07] {_grasshopper} yes

[11:07] {Threei}  #floor and #discussions

[11:07] {Threei}  next to them youy should see one with my nick on it

[11:07] {Threei}  click on it and type there

[11:08] {_grasshopper} I'm on mibbit

[11:09] {Threei}  White House Advisor Summers: Regulatory reform will use common sense, Govt intervention should only be temporary within markets

[11:09] {nemo} like, one decade per century

[11:09] {Threei}  hmmm... building contructors in USSR had this saying: there is nothing more permanent that temporary constructions

[11:10] {nemo} yeah, cost + contracts

[11:12] {dino} ctrp

[11:12] {jfjf64} .72 trigger l ms

[11:12] {Threei}  1:2 SQNM

[11:12] {Threei}  me out

[11:13] {Threei}  last piece of HIG still doesn't know what it wants from lifwe

[11:13] {Threei}  life

[11:13] {nemo} wants from wife

[11:14] {nemo} Joke:  What does a dislexic agnostic do?

[11:14] {Threei}  maybe should have done 1/4 thing with SQNM rtoo

[11:14] {ese} hmmmmmmmm........what?

[11:17] {ese} have a feeling that sqnm is going to cover a good part of that gap from 14....big void

[11:20] {Threei}  HIG gave up saying "I don't want anything from life anymore"

[11:21] {jfjf64} common  markett bounce

[11:21] {nemo} stocks are talking to you now?

[11:21] {nemo} Oh, answer:  Wonders whether there is a Dog

[11:21] {ese} always have......thats why he's the cult leader

[11:22] {nemo} pass the punch...er....vodka

[11:22] {ese} all cult leaders have things that talk to them

[11:22] {nemo} and I thought it was the mushrooms

[11:22] {Threei}  SVNT Hearing Oppenheimer making cautious commnents (timing uncertain) (13.36, -0.10, -0.74%)

[11:32] {jfjf64} vad  question   im in  ms .72  with 10cent  stop    with way  its  tradin  my  opinion  is change  it  to 5cent stop at  this  point    wd  ya  agree

[11:33] {nemo} in @ .72 jf?

[11:33] {Threei}  both are valid jf

[11:33] {jfjf64} y  for  last 12 min

[11:34] {Threei}  matter of your objectives and risk tolerance

[11:34] {Threei}  SQNM

[11:34] {Threei}  this is getting serious

[11:34] {jfjf64} ty

[11:34] {Threei}  let's try long on pullback to 5

[11:34] {Threei}  5.10 break is an option too, just more risky

[11:35] {ese} serious is right

[11:35] {nemo} eat sqnm's dust

[11:37] {jfjf64} in .10

[11:40] {Threei}  ALTI new run at highs, stop for the balance to 1.02

06[11:40] * Threei kicks SQNM in the rear with heavy duty army boots

[11:40] {nemo} whoa...pulled out the boots

[11:41] {Threei}  just no shakeout please

[11:43] {dino} apol sm l .50

[11:43] {Threei}  ugh

[11:44] {Threei}  (US) House bill to grant FDA the power to regulate tobacco gains sufficient votes to pass (related RAI )

[11:49] {jfjf64} big shakout

[11:50] {ese} still long drys .02.....du du du du du.......dum dum dum dum dum......use them boots on everything vad

[11:50] {nemo} do do do da da da is all I want to say to you...

[11:52] {Threei}  market is in coma

[11:53] {nemo} PPT @ 3

[11:53] {dino} da da da uhuh uhuh

[11:55] {Threei}  wow

[11:55] {Threei}  http://rawstory.com/08/news/2009/06/11/us-house-to-debate-ron-pauls-audit-the-fed-bill/

[11:55] {Threei}  can it really move forward?

[11:57] {Threei}  Prez on TV in case you missed him

[11:57] {nemo} not in any useable form

[11:58] {nemo} Power doesn't give up power

[12:04] {pita} gotta go, good wknd all, cu Monday

[12:05] {Threei}  take care pita, have a good one

[12:06] {jfjf64} vad  ya  lk  break sqnm .95

[12:06] {nemo} breakouts during lunchtime?

[12:07] {jfjf64} thanks  nemo

[12:07] {nemo} just a caution with the market in a coma, you've got that resistance just below 5

[12:08] {dino} apol stopped -.27

06[12:09] * nemo slaps vinod around a bit with a large Legal Seafoods Broiled Salmon

[12:10] {dino} shld sm l .00

[12:10] {ese} stillllllllllll long drys .02.......my goodness.....this is redefining slugish market

[12:11] {jfjf64} think we sd all go  to happy  hour

[12:11] {nemo} started with lunch

[12:12] {patience} not my type of market....no trade is a good trade for me right now

[12:13] {ese} beginning to think that patience

[12:13] {patience} did one trade this week, lost $150.   first loss in months....oh well....have to live the odds

[12:13] {Threei}  what did wake up PALM?

[12:16] {Threei}  FITB is back to highs

[12:16] {ese} same with bac

[12:17] {ese} .69 was high for bac.........now at .81

[12:17] {dino} same here last two days

[12:17] {ese} you were high the last 2 days dino?

[12:17] {nemo} ese!

[12:17] {nemo} musicians

[12:17] {ese} ahhhhhh  just askin

[12:18] {dino} lol, no market wierd last two days, trades not working as well

06[12:18] * nemo slaps ese around a bit with a large copy of Alla Fortuna

[12:18] {ese} needed that

[12:19] {nemo} first time I heard that was in that late 70's movie "Excalibur"  had to get it...

[12:19] {ese} i remember that........that was a good movie

[12:22] {nemo} jf, be interesting if SQNM holds new support here

[12:22] {jfjf64} im out too lunch

[12:23] {jfjf64} lol

[12:23] {nemo} so....what's new?

[12:23] {Threei}  PALM...

[12:28] {Threei}  unstoppable thing

[12:32] {nemo} sqnm setting up H&S?

[12:32] {Threei}  hmm?

[12:32] {Threei}  don't see anything like that

[12:32] {Threei}  FITB however...

[12:32] {ese} H&S ?

[12:33] {Threei}  oh sorry

[12:33] {Threei}  yes nemo, read mistakenly and C&H

[12:33] {Threei}  H&S it is

[12:33] {nemo} damn...was hoping I was still psychotic

[12:33] {Threei}  FITB forms very tight consolidation at the high

[12:34] {ese} palm is a bit of a wow.......thats pretty much the most it's moved in years

[12:34] {Threei}  sorry for ruining it for you nemo... now you'll have to live in reality, because of me :(

[12:34] {nemo} crosses to bear

[12:35] {Threei}  fairly reflects its position in industry ese... its former forte, pocket computers, pretty much died on them

[12:35] {Threei}  entry in new market got interest again

[12:35] {nemo} there goes fitb

[12:35] {Threei}  yeah

[12:35] {ese} whats the new market.....i don't think i know

[12:35] {Threei}  smart phones

[12:36] {nemo} mobile computing

[12:36] {ese} ahh......iphone type thing

[12:41] {Threei}  solid pullback PALM

[12:43] {ese} Ok all have to beg your leave.......am heading to dp's neck of the woods tomorrow....the Vic High band has a show at the Sheraton Wall Center in Vancouver for the BCMA(British Columbia Medical Assoc).....it's looking like the Premier of the province is going to be there

[12:43] {Threei}  have fun ese

[12:43] {Threei}  say hello to Premier

[12:43] {Threei}  and to dp

[12:43] {ese} tks vad......take care everyone have a great weekend

[12:43] {ese} will do

[12:44] {dino} pru sm l .00

[12:44] {dino} cya es

[12:45] {Threei}  .21 PALM for scalp if stays above .15

[12:47] {nemo} too fast

[12:47] {Threei}  come on

[12:47] {Threei}  1:1

[12:47] {nemo} broke through .21 fast, I'm terrible at the fast ones

[12:48] {Threei}  why broke?

[12:48] {Threei}  .21 itself was trigger

[12:48] {nemo} yeah, went fast

[13:01] {fernp} have a good weekend everybody. see u on monday

[13:01] {Threei}  take care fern, have a great one

[13:12] {dino} cbt

[13:15] {jfjf64} s cof .73 trigger

[13:16] {dino} cbt sm l .73

[13:16] {jfjf64} in

[13:18] {jfjf64} ouch

[13:18] {jfjf64} not wkin today

[13:18] {nemo} bounce from long drop

[13:19] {nemo} you were hot yesterday

[13:19] {jfjf64} correct  play s .89

[13:22] {jfjf64} thats awrap  for  me  my  friends    great  week  ty  see ya monday         thanks  vad

[13:23] {dino} cya jf

[13:23] {Threei}  good to hear jf

[13:23] {Threei}  congratulations, have a good weekends

[13:23] {Threei}  -s

[13:25] {jfjf64} takin  my  son  mets  yankee gm   suday   lookin  forward

[13:30] {dino} cool

[13:30] {nemo} BoSox B..slapped the Yanks this week :)

[13:31] {nemo} svnt looks like a flat ekg on the 5 minute

[13:31] {Threei}  lol

[13:49] {Threei}  came alive eh?

[13:50] {nemo} what? 

[13:50] {nemo} oh yeah

[13:53] {dino} ipcs drop

[13:55] {dino} shld stop to .30

[13:55] {dino} pnra to flat

[13:55] {nemo} what about pru?

[13:55] {dino} pru to flat

[13:55] {nemo} hehehe

[13:55] {dino} out shld +.30

[13:56] {vinod} a lazy Friday 

[13:56] {nemo} Summer Friday

[13:57] {vinod} I took3 hours off and it is same

[13:57] {dino} ipcs brutal

[13:57] {Threei}  was quite tempted by that SVNT consolidation but decided Fri afternoon is not a good time for this kinf od trade

[13:58] {Threei}  oh well

[13:59] {vinod} there is always next week and market is going no where from us

[14:00] {vinod} i consider a winner because i am not losing this week

[14:01] {dino} gj vin

[14:03] {vinod} you guys still holding CPST I added 2k today at 1.15 plus yesterday's 1k at 1.23

[14:03] {dino} stopped pnra .05, +.05

[14:04] {Threei}  not here vinod

[14:04] {vinod} o.k thanks

[14:04] {vinod} I will dump them now

[14:05] {dino} out pru .10, +.10

[14:05] {Threei}  watching PALM for possible C&H

[14:05] {Threei}  .50 being rim

[14:05] {dino} gambling thoughts on ipcs?

[14:06] {nemo} watch for volume spike

[14:06] {nemo} friday scalp day

[14:06] {nemo} Summer

[14:06] {nemo} oops...there I go, thinking again

[14:08] {Threei}  feels like one more shrp dive at least

[14:08] {nemo} no solid support until .65

[14:08] {Threei}  Treasury Dept official: announcements of managers for the $500B PPIP will be made "very shortly"

[14:09] {nemo} Plunge Protection Insurance Panel?

[14:09] {Threei}  handle start forming, PALM

[14:10] {nemo} ipcs looks liked it bounced off support a couple of minutes ago

[14:11] {dino} public/private invest partnership

[14:12] {dptl} have a good weekend all

[14:12] {Threei}  take care dp

[14:13] {dino} cya dp

[14:20] {Threei}  PALM 1:1

[14:24] {vinod} out .61 Palm

[14:24] {Threei}  lunch money

[14:25] {Threei}  in more ways than one, lol

[14:25] {vinod} yes ty-vad

[14:25] {Threei}  sure

[14:25] {Threei}  clean case of "beauty of scalping"

[14:26] {nemo} you pesky scalper

[14:26] {Threei}  grabbed something that showed setup, got out when it stopped moving in your favor

[14:26] {Threei}  foergot all about it

[14:26] {vinod} also out all CPST 1.23

[14:26] {Threei}  and became a few bucks richer in the process

[14:33] {vinod} nemo-your gut feeling about PPT today?

[14:34] {nemo} no interference today

[14:36] {Threei}  why?

[14:36] {nemo} IPCS is pulling a CNQR Dino

[14:36] {nemo} voices in my head

[14:37] {nemo} they're telling me to go clean my guns

[14:37] {dino} stuck, yes

[14:37] {dino} rbcn

[14:37] {dino} thin

[14:40] {dino} pru l .25

[14:45] {Threei}  (IA) Iranian Election results reportedly show 65% of vote goes to Mousavi - Mousavi aide

[14:45] {Threei}  - Mousavi is seen as more open to the West than the more hard-line Amedinajad (related USO OIH USD/KRW TLT SHY EUR/USD USD/CHF USD/JPY )

[14:46] {Threei}  this is probably what propped the market

[14:47] {nemo} see the story on HIG issueing stock?

[14:49] {Threei}  6:45 am

[14:49] {Threei}  Friday, June 12, 2009 6:45:13 AM

[14:49] {Threei}  The Hartford Financial Services Group Inc Plans to offer $750M in common shares (about 16.4% of market cap)

[14:49] {Threei}  - Co has commenced a discretionary equity issuance plan pursuant to which it will offer shares of its common stock from time to time for aggregate sales proceeds of up to $750M

[14:49] {Threei}  - In addition, the company announced today that it would participate in the U.S. Treasurys Capital Purchase Program (CPP), subject to completion of documentation with the U.S. Treasury.

[14:49] {Threei}  - The Hartford received notice of preliminary approval to participate in CPP on May 14, in the amount of approximately $3.4B.

[14:49] {Threei}  and 13 seconds...

[14:50] {nemo} 6:45 your time or my time

[14:50] {Threei}  ESTY

[14:50] {Threei}  EST

[14:50] {nemo} EDT

[14:50] {Threei}  all times I post are always NY

[14:50] {Threei}  in fact, my trading computer is set to NY time

[14:59] {Threei}  (IA) CNBC: Ahmadinejad also claiming victory in Iranian election (related USO OIH )

[14:59] {Threei}  lol

[15:01] {nemo} Vad look at TNDM and the volume numbers around that spike please

[15:02] {Threei}  14:42 spike you mean?

[15:02] {nemo} yessur

[15:02] {Threei}  okay

[15:02] {Threei}  what am I looking at?

[15:02] {nemo} I'm trying to understand that move

[15:03] {Threei}  break of resistance after long consolidation, spike...

[15:03] {Threei}  what to understand? :)

[15:03] {nemo} The volume numbers around that spike, barely moves on 14k volume minute before, goes up on 4k volume .20 cents

[15:03] {Threei}  aahhhhh

[15:03] {Threei}  I see what you mean,

[15:03] {nemo} not as dumb as I look

[15:04] {Threei}  volume spike preceeds price spike by bar or two, right?

[15:04] {nemo} 1 bar and the .20 cent jump on 1/4th the volume

[15:04] {Threei}  lord, give me power to refrain from "nah, still dumb"... I don't want to be rude but he just walked into that one

[15:04] {nemo} I'm using LASER

[15:04] {nemo} Not "as dumb"

[15:05] {Threei}  OK, this is good observation,

[15:05] {Threei}  and here is exp[lanation:

06[15:05] * nemo ducking

[15:05] {Threei}  there was huge resistance,

[15:05] {Threei}  a lot of shares offered

[15:05] {Threei}  and all that long consolidation was slow churning of those shares,

[15:05] {Threei}  digesting so top speak.

[15:05] {Threei}  What happened next was

[15:06] {Threei}  strong buying pressure concentrated in a single moment (bar on your 1 min chart) took out all those shares

[15:06] {Threei}  breaking resistance

[15:06] {Threei}  and as sell order got lifted

[15:06] {Threei}  stock moved up.

[15:07] {nemo} dam broke

[15:07] {Threei}  right

[15:07] {Threei}  There was no however as much buyng enthusiasm after the reak,

[15:07] {Threei}  just enough for short-lived spike

[15:07] {Threei}  so volume returned to normal,

[15:07] {Threei}  but absence of sellers allowed for easy price movement

[15:07] {nemo} can see the tails on the preceding candles all were at the same height, once that candle closed above those tails..boom

[15:07] {Threei}  so what you get in such cases is

[15:08] {Threei}  volume spike preceeding price movement

[15:08] {Threei}  which signifies taking out huige sale order

[15:08] {Threei}  then price spike as there is no additional selling pressure

[15:08] {nemo} which is a play you look for

[15:08] {Threei}  and both, price and volume p[retty much return to bormal pattern

[15:09] {Threei}  sure, that's the idea of all breakout plays

[15:09] {Threei}  look at that SVNT break

[15:09] {Threei}  look at that PALM break that we played

[15:10] {Threei}  you will see pretty much the same thing, with insignifcant variations

[15:11] {dino} esi sm l .00

[15:14] {magoo} vad...mkts rot or rip?

[15:14] {nemo} alright, maybe I am as dumb as I look

[15:15] {Threei}  neither mags

[15:15] {nemo} yeah, FLAT FRIDAY

[15:15] {Threei}  ummm... bow did you arrive to that concluision nemo?

[15:15] {nemo} I arrived earlier...voices in my head

[15:15] {nemo} remember

[15:15] {Threei}  ah

[15:17] {_grasshopper} you guys are funny 

[15:18] {_grasshopper} looking.........................................:)

[15:18] {_grasshopper} joking of course

[15:18] {nemo} mmmmmhhhhh....polite and with manners....definite newbie

[15:18] {dino} lol

[15:19] {_grasshopper} not for long

[15:19] {Threei}  grasshopper... anyone who thinks highly of our sense of humor should be very alarmed

[15:19] {nemo} seek help

[15:19] {dino} sorry about the voices nemo, i'll turn radio down

[15:19] {_grasshopper} I will go right now fellas

[15:20] {nemo} interesting, use of two male references...mmmhhhh

[15:20] {nemo} nice on esi dino

[15:21] {nemo} taargeting resistance just under .50?

[15:21] {nemo} one "a" sorry

[15:22] {dino} want it to go thru, but....will not let it slip away

[15:22] {nemo} yeah, last call

[15:27] {dino} .40 wall

[15:28] {nemo} discretion is the better part of valor

[15:28] {nemo} unless you're betting on the PPT

[15:31] {dino} out esi .40, +.40

[15:31] {dino} discipline trumps conviction i prefer

[15:32] {Threei}  {PPT} I am myth

[15:33] {dino} not in the bond markets for sure

[15:33] {Threei}  that's political domain

[15:34] {nemo} caught that spike Dino

[15:34] {dino} yes was laying out

[15:35] {nemo} trading gods were watching over you on that one

[15:36] {dino} certain stocks i lay out on as personalities dictate

[15:44] {dino} cbt stopped .75, +.02

[15:44] {nemo} gonna' give me any hints grasshopper?

[15:45] {vinod} have a nice weekend to all

[15:45] {nemo} by Vinod

[15:45] {nemo} bye

[15:46] {Threei}  take care vinod

[15:47] {_grasshopper} nope 

[15:47] {_grasshopper} keep you in suspense Nemo 

[15:47] {_grasshopper} :)

[15:48] {Threei}  you are killing him grasshopper

[15:48] {Threei}  I applaud

[15:48] {_grasshopper} thanks Vad

[15:49] {Threei}  trying to decide, dump the balance ALTI or carry over weekend

[15:50] {_grasshopper} but wars can start on weekend can't they???

[15:50] {_grasshopper} isn't that why traders don't?

[15:50] {Threei}  easy

[15:50] {_grasshopper} a friend of mine who is a broker told me that one

[15:50] {Threei}  yeah, I guess one overnight was enough for ALTI

[15:50] {Threei}  worked nicely

[15:54] {Threei}  mags... looks like I was correct

[15:56] {dino} out cnqr .-01

[15:57] {Threei}  okay guys

[15:57] {Threei}  thank you all

[15:57] {Threei}  have a great weekend

[15:57] {Threei}  see you on Monday

[15:57] {nemo} hehehehehe

[15:57] {dino} cya

[15:59] {dino} out pru .16 -.09

[16:02] {dino} thx all, good times

[16:02] {nemo} Ahmadinejad lost

[16:02] {nemo} little better day today Dino