Jun 24 2009

Very nice first half of the day with MGM long and RIMM both directions. Afternoon was a snoozer.

Session Time: Wed Jun 24 00:00:00 2009

[08:04] {BillyD} good morning

[08:28] {BillyD} Vad, you see any nes on AIB

[08:28] {BillyD} news

[08:32] {Threei} Morning

[08:32] {Threei} AIB?

[08:32] {BillyD} yes

[08:32] {Threei} my news feed doesn't even have this symbol, lol

[08:32] {BillyD} lol

[08:33] {BillyD} it's banking so maybe a general news

[08:36] {Threei} 08:30 *MAY DURABLE GOODS ORDERS: +1.8% V -0.9%E; DURABLES EX-TRANSPORATION: +1.1% V -0.5%E

[08:36] {Threei} - Prior Durables revised from +1.9% to +1.8%

[08:36] {Threei}

[08:36] {Threei} this then

[08:39] {Threei} ISTA FDA staff comments that Bepreve has not serious adverse events reported (3.79, 0.00, 0.00%)

[08:41] {Threei} FDA staff comments that Bepreve has no serious adverse events reported in studies over treatment of allergy related eye itching, but 25% of patients in one study had a side effect of bitter taste

[08:41] {Threei} - FDA staff comment come ahead of an upcoming FDA advisory panel meeting

[08:41] {Threei} between eye itching and bitter taste I'll take bitter taste any day

[08:43] {BillyD} RIMM gaps 2

[08:45] {BillyD} maybe some follow thru enthusiasm today

[08:49] {magoo} morning

06[08:49] * BillyD slaps magoo around a bit with a large trout

[08:49] {level777} orcl nice gap

[08:50] {magoo} nice billy

[08:53] {BillyD} Vad, you still using Trade The News

[08:54] {Threei} yup

[08:54] {Threei} magoo :)

[08:54] {BillyD} does it pretty much give you news on staocjks pretty quick if they get sudden spikes, etc

[08:55] {BillyD} stocks

[08:55] {Threei} as a rule, yes

[08:55] {Threei} if there is news

[08:55] {BillyD} ok

[08:55] {fernp} good morning everybody

[08:55] {Threei} if you want to try it, use icon at the bottom of our homepage

[08:55] {BillyD} ok

[08:56] {Threei} it should give you some discount

[08:56] {Threei} fern :)

[09:01] {level777} orcl is almost an automatic short on pops over the years

06[09:02] * Threei slaps magoo around a bit with a large manual on florr sweeping technique. Study it and sweep the room before you leave!

[09:02] {BillyD} lol

[09:03] {dino} gm all

[09:03] {BillyD} gm dino

[09:03] {Threei} dino :)

[09:04] {vinod} GM to all

[09:04] {level777} 3i, i couldnt get my original LevelSeven id, said someone already had it. Who the heck wants to be me?

[09:04] {dino} magoo does

[09:04] {Threei} vinod :)

[09:04] {level777} Idont even want to be me

[09:05] {Threei} huh... I'll ask KS to check up on that, L7

[09:05] {level777} i think its costing me lots oo trade profits

[09:05] {dino} it is

[09:07] {BillyD} Vad, think this gap sells

[09:07] {Threei} hmm

[09:07] {Threei} most of them did lately

[09:07] {BillyD} exactly

[09:08] {Threei} but we are very close to support

[09:08] {jfjf64} mornin guys

[09:08] {Threei} jf :)

[09:08] {magoo} 3 poor days in row ...end of month markups looming...all bulls need/want is a catalyst..which will be fed today...UP we go imo

[09:09] {cosmo} hmm...optimist...

[09:09] {Threei} fed... well, that's hard to gauge

[09:09] {magoo} we may dip at open of course..or it may be rough ride of course

[09:09] {Threei} by all measures, should be non-event

[09:10] {dino} anything can happen

[09:10] {Threei} what is it they can do or say here

[09:10] {Threei} "still tough, green shoots, not out of the woods yet"

[09:10] {Threei} there

[09:10] {magoo} so insightfull dino :)

[09:10] {dino} everyday is a coin toss, thats all i'm saying

[09:12] {magoo} ah..go flip the contra coin, lets see what it says

[09:12] {jfjf64} as long as vad has thinkin cap on we be fine

[09:12] {cosmo} Spring brings new growth ...just look around

[09:13] {Threei} jf... truth be told, the only purpose of that cap is to mask rtotal absence of thinking

[09:13] {Raven} Spring brings mosquitoes

[09:13] {cosmo} brought that is....

[09:13] {Threei} lol

[09:13] {jfjf64} lol

[09:13] {cosmo} yea... got bites here

[09:14] {Raven} West Nile ... be careful

[09:14] {magoo} i havent done this in awhile

[09:14] {cosmo} growing little bumps

[09:14] {magoo} c'mon vad, i need to make a grande, work HARD today lol

[09:15] {magoo} remember when i'd press u everyday ?

[09:16] {jfjf64} yes please and by 11 am hv sons graduation

06[09:16] * Threei hides under the nearest rock never to be seen today again

[09:16] {dino} congrats jf!

[09:16] {jfjf64} ty dino

[09:17] {jfjf64} 5th grade graduation ty

[09:18] {dino} :)

[09:21] {jfjf64} lks lk mgm lvs some play

[09:22] {Threei} Yesterday 16:40 MGM Company has concluded that there is no longer substantial doubt about its ability to continue as a going concern -filing

[09:22] {Threei} - Cites completion of share offering and note placement

[09:22] {Threei}

[09:23] {jfjf64} ty

[09:24] {cosmo} DRYS tests @ open

[09:24] {cosmo} imo

[09:25] {Threei} MGM formed 6.40 resistance pre-market, which is also resistance from the day before

[09:25] {Threei} before yesterday

[09:26] {Threei} let's see if it gives us consolidation and break

[09:26] {jfjf64} intresting

[09:26] {Threei} this thing is capable of nice moves when it's in the mood

[09:27] {Threei} ideally, holding 6.30, consolidating while market makes first hectic opening moves,

[09:28] {Threei} then decisive break

[09:28] {Threei} that would be my preferred scenario

[09:28] {Threei} Break right out of the gate, well

[09:29] {Threei} can go either way... never look back, or give short-lived spike and fizzle out

[09:29] {ese} gm

[09:29] {Threei} ese :)

[09:32] {Threei} Short Setup: ORCL .80 break

[09:32] {ese} out intc yesterday at the end of the day .98 +.17 was in at .81

[09:32] {ese} well close to the end of the day

[09:34] {Threei} CPC IPO opens for trade at $9.45 (9.60, 0.60, 6.67%)

[09:35] {Threei} MGM over 1:1, half out who went for it

[09:36] {dptl} good morning all

[09:36] {Threei} dp :)

[09:36] {ese} ddddddddpppppppppppp!!!!!!!!

[09:36] {Threei} 1:2 1/4 more out

[09:41] {magoo} l rimm here .55

[09:41] {Threei} ORCL no worky

[09:42] {Threei} MGM last portion stop is b/e

[09:42] {level777} ista..watching ffrrvol pick up

[09:42] {level777} for vol

[09:42] {dino} \ogxi

[09:42] {level777} ista break

[09:42] {magoo} .20 cent sto[p

[09:43] {magoo} no go

[09:45] {ese} drys looks like it's in that mood to go and go and go today

[09:47] {BillyD} RJET moving a bit but don't like the chart

[09:47] {Threei} yeah, I looked at it couple times... no pressure

[09:47] {Threei} trades like jellyfish

[09:50] {dino} jpm sm l .50

[09:50] {Threei} RIMM

[09:50] {Threei} .40 break long

[09:50] {Threei} stop under .30

[09:51] {ese} L drys .80

[09:51] {dino} snda

[09:51] {Threei} JPMorgan Chase and Co Reportedly raising card transfer fees to 5%

[09:51] {Threei} - notification part of new federal rules for consumer protections

[09:51] {Threei} lol

[09:52] {Threei} we are getting scrwed just the same, but this time around they notify us

[09:52] {Threei} Preview: May New Home Sales (m/m) due out at 10amET

[09:52] {Threei} **consensus expectation: 360Ke (+2.3%e) v 352K prior.

[09:52] {Threei} - estimates range between 345K to 400K. (related XHB )

[09:53] {Threei} half out RIMM

[09:54] {dino} shld sm l .50

[09:54] {Threei} scalpers take profit

[09:54] {BillyD} ty

[09:54] {Threei} stop to .45

[09:55] {Threei} CMCSA Announces distribution agreement with Time Warner (13.81, 0.02, 0.15%)

[09:55] {Threei} 1/4 more out RIMM

[09:56] {Threei} Comcast Corp Announces distribution agreement with Time Warner

[09:56] {Threei} - to develop broad principles for the TV Everywhere model to guide the distribution of its television content online. The agreement between the companies will make it possible for Comcast customers to access programming from Turner Broadcastings award-winning entertainment networks free online and on demand. In addition, Comcast announced it will begin a national technical trial of its On Demand Online service in July carrying programming from Time Warners Turner networks TNT and TBS.

[09:57] {Threei} stop is still under .50, trying to exit last portion above .80

[09:57] {magoo} ty rimm vad

[09:57] {magoo} out .67

[09:57] {ese} dino....you still in that JPM trade or are you out

[09:58] {tomg} ty rimm vad

[09:58] {Threei} magoo, tom :)

[09:58] {ese} daaaaaa......missed the pullback on it.....shouldn't have ben typing

[09:59] {Threei} MGM... can you or can you not?

[09:59] {dino} in it

[09:59] {ese} out drys .81

[09:59] {ese} even

[10:00] {dino} 34 feels like

[10:00] {ese} better trade than drys

[10:00] {Threei} MAY NEW HOME SALES: 342K V 360KE (% M/M)

[10:00] {dino} i prefer tbsi over drys use drys as tell

[10:01] {Threei} ABMD Announces First FDA-Approved AbioCor Implant at UMDNJ-Robert Wood Johnson Medical School and Robert Wood Johnson University Hospital (8.44, 0.24, 2.93%)

[10:02] {Threei} - Median sales price: $221,600 v $212,600 m/m

[10:02] {Threei} NVAX Preclinical Proof-of-Concept Studies Published for Novavax Seasonal Influenza Virus-Like-Particle Vaccine (2.53, 0.13, 5.42%)

[10:02] {ese} does it always trade that thin TBSI

[10:03] {Threei} too bad home numbers didn't help... RIMM weas ready to blast off

[10:03] {magoo} still can

[10:03] {Threei} yeah but I am no longer in

[10:03] {magoo} after thru with fed we gonna get high high

[10:04] {Threei} MGM, trailing to under .50

[10:05] {cosmo} DRYS hod = 5.90 fwiw

[10:06] {Threei} out last piece MGM

[10:06] {Threei} +.30

[10:06] {BillyD} nice one

[10:06] {dino} no es

[10:06] {Threei} 3 for 4 so far

[10:06] {magoo} OY

[10:06] {magoo} dont do that..jinx it

[10:06] {Threei} did I get you off my back mags?

[10:06] {magoo} i want 9 of 10 today

[10:07] {Threei} sigh

[10:07] {magoo} hey..it worx as motivator ..see

[10:07] {BillyD} ORCL, MGM, RIMM...what was 4th one

[10:07] {magoo} in all fairness, i do have a G..TY

[10:08] {Threei} there was no 4th one Billy... I was just trying to relieve pressure by magoo

[10:08] {BillyD} lol

[10:08] {Threei} :)

[10:08] {magoo} aapl was 4th

[10:08] {magoo} off rimm call

[10:08] {Threei} by a proxy

[10:09] {Threei} lol

[10:09] {magoo} alot of times he call rimm i take both

[10:09] {ese} markets made up it's mind it's going up...regardless of new home sales

[10:09] {Threei} ORCL... don't remember it holding gap that persistently

[10:11] {dino} titn sm l .74

[10:13] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET

[10:13] {Threei} **consensus expectations:

[10:13] {Threei} Crude: -1.2Me

[10:13] {Threei} Gasoline: +1.3Me

[10:13] {Threei} Distillate: +800Ke

[10:13] {dino} snda sm l .00 trig

[10:13] {dino} giddy-up

[10:14] {dino} shld stop to .90

[10:15] {Threei} RJET woke up... grr

[10:15] {dino} to .99

[10:17] {dino} out shld .30, +.80

[10:17] {ese} in your opinion vad....whats drvin the market....end of the month buying?

[10:18] {Threei} "frankly my dear...."

[10:18] {Threei} :)

[10:18] {dino} -7% in 3 days, imo

[10:18] {ese} gotcha!

[10:19] {level777} whats a pb price for MGM?

[10:19] {dino} dltr stop to .90

[10:19] {ese} reason iwas asking is i'm still stalking a swing long position with intc at .30

[10:20] {dino} -7 in 8 days i mean

[10:20] {Threei} 6.60 mostl likely... but it doesn't show much willingness to pull back

[10:20] {dino} es no swings in summer

[10:20] {ese} huh...really?

[10:20] {dino} i have paid dearly for them

[10:21] {dino} summers' scalp time imo

[10:21] {ese} hadn't heard that adage

[10:21] {ese} not even for a couple of days

[10:21] {ese} overnight?

[10:21] {Threei} talking heads though have this expression I've never understood : summer rally

[10:22] {Threei} as if we have one each summer

[10:22] {dino} overnight ok, but .....

[10:22] {dino} sell in may and go away

[10:23] {ese} intc.30 would be break of 7 day high.....thought that that would help it go a litle

[10:23] {ese} have heard the sell in may line for sure

[10:23] {dino} in general summers are strange. of course we are living in strange times

[10:24] {Threei} that one is plenty silly to me too, ese

[10:24] {ese} agreed....

[10:24] {Threei} just general human desire for simple solutions

[10:25] {Threei} anyone ever made any money using this kind of adages?

[10:25] {Threei} sell each May

[10:25] {Threei} whatever else they recommend

[10:25] {dino} no

[10:25] {ese} no

[10:26] {Threei} US Rep Frank (D): US House panel to evaluate a consumer protection agency in July

[10:26] {Threei} hurry barney, before they protected us to death

[10:27] {dino} but seriously, summers are different

[10:27] {dino} snda to flat stuck

[10:28] {dino} out snda .10, +.10 pullback

[10:28] {dino} lol, barney. the mother society coming, people can't figure anything out, they need rules

[10:29] {Threei} of course dino

[10:29] {dino} in the end the govt doesn't want you to think

[10:29] {Threei} think of it: we are that stupid that may even smoke flavored tobacco

[10:29] {Threei} how could governemtn stay away and not jump in to help us make smart decisions

[10:30] {dino} personal responsibility out the door

[10:30] {Threei} DOE CRUDE: -3.87M V -1.2ME; GASOLINE: +3.87M V +1.3ME; DISTILLATE: +2.08M V +800KE

[10:30] {dino} dltr to .00

[10:30] {BillyD} Vad, any read on RJET yet

[10:30] {Threei} I wish

[10:31] {BillyD} I am trying to keep from manufacturing one

[10:31] {dino} call barney, he'll give you one

[10:31] {dino} out dltr slip, .95, +.45

[10:32] {Threei} there are local politicians here who insist on ban on drive-through, our of emissions concern during engine idling

[10:32] {Threei} I love their reasoning:

[10:32] {Threei} we understand convinience is nice but it's not absolutely necessary

[10:32] {Threei} I suggest these guys to throw out their TVs

[10:32] {Threei} they are not absolutely necessary

[10:33] {Threei} so by their logic must be discarded

[10:35] {BillyD} if RJET can hold 7 area, then B/O worth a shot with some tension

[10:35] {dino} burn 'em all ike

[10:36] {Threei} oil moving up makes it questionable, Billy

[10:36] {Threei} RJET is sensitive to oil

[10:36] {BillyD} makes sense, thanks...plus it needs more tension

[10:36] {ese} I'm also looking at the 16.50 mark for intc....if it gets there this would be the fourth time bumping up against it.......and if it gets through that should propel it up quite significantly

[10:36] {Threei} yeah, tough one really

[10:36] {level777} MGM drop

[10:37] {Threei} looks temtoing, and chart looks right

[10:37] {Threei} but can turn into trap with horrifying speed

[10:37] {Threei} watching it L7

[10:37] {BillyD} it is alluring to impulsive decision....lol

[10:39] {dino} hmmm, not sure what bd is watching

[10:40] {Threei} RJET dino

[10:41] {dino} jpm stop to flat

[10:42] {dino} 8.20s resistance

[10:43] {dino} doesn't make sense, buyout and they are the buyer

[10:43] {dino} break of 7?

[10:44] {Threei} really can't tell

[10:44] {Threei} tempting

[10:44] {dino} rather higher

[10:44] {Threei} double top

[10:44] {Threei} second one made on lower volume

[10:44] {BillyD} was thinking .12 or.13 earlier worth a shot

[10:44] {dino} waiting around 8

[10:45] {Threei} so... technically speaking yes, 7 break is short

[10:45] {Threei} but this thing is not very technical

[10:45] {dino} problem is how much, to 6.80ish?

[10:46] {dino} "there are better worlds than this" imo

[10:46] {Threei} yeah

[10:47] {dino} another buck i like it short

[10:47] {dino} lorl 3i?

[10:47] {dino} or oxgi?

[10:48] {dino} lotrl too thin

[10:48] {Threei} LORL no idea

[10:49] {dino} jpm hod es

[10:49] {Threei} OGXI had news

[10:49] {Threei} OncoGenex Pharmaceuticals, Inc Completes Amendment to Phase 3 Special Protocol Assessment

[10:49] {Threei} - Co has reached an agreement with the U.S. FDA via the special protocol assessment process (SPA) on an amendment to the design of a Phase 3 registration trial of OGX-011, its lead product candidate targeting castrate resistant prostate cancer (CRPC).

[10:49] {Threei} - The FDA has agreed on modifications to the study population of a previously reviewed Phase 3 trial featuring survival as the primary endpoint.

[10:49] {Threei} - The study population has been modified to evaluate patients receiving first-line chemotherapy, rather than those receiving second-line chemotherapy. FDA agreed that the amended protocol adequately addresses the objectives necessary to support a regulatory submission.

[10:51] {dino} jpm to .80

[10:53] {Threei} MGM bounced right off .60, but did it with such flat pace, was really tough to nail entry

[10:59] {dino} out jpm +.30

[10:59] {Threei} .short rimm .10

[10:59] {Threei} Short Setup: RIMM .10

[11:00] {Threei} if stays under .25

[11:01] {dino} wxs

[11:01] {BillyD} every futures uptick these stocks jump one way or the other

[11:03] {dino} sm l wxs .49

[11:07] {Threei} OGXI Rodman & Renshaw maintains Outperform rating, price target $32 (timing uncertain) (22.09, 2.67, 13.75%)

[11:08] {dino} hmmm

[11:10] {BillyD} Vad, does RIM seem a bit stronger than mkt overall

[11:10] {BillyD} RIMM

[11:10] {Threei} hard to tell... maybe a tad, but could also be just violatility

[11:11] {vinod} short setup for rimm still good?

[11:11] {Threei} no, went above the invalidating level

[11:11] {Threei} gotta hunt fkor a new one

[11:12] {vinod} ty

[11:12] {Threei} .25 became a short trigger now

[11:12] {Threei} with .40 being invalidating level

[11:12] {Threei} Short Setup: RIMM .25

[11:13] {Threei} (US) Senate Report: US healthcare insurers underpay claims

[11:17] {Threei} if feel very stingy, trail stop to above .35 on RIMM

[11:17] {vinod} in RIMM

[11:19] {dino} wxs stop is .09 fwiw

[11:21] {dino} stopped

[11:23] {BillyD} 1st cover area on RIMM?

[11:23] {BillyD} under .10

[11:23] {Threei} near .10

[11:24] {Threei} and stop is above .35 for everyone now

[11:24] {Threei} any trade under .14, trail to above .30

[11:25] {Threei} there

[11:25] {Threei} risk becomes negligible here

[11:25] {Threei} 1:1, covering half... scalpers know what to do

[11:25] {BillyD} good...out 1/2

[11:27] {vinod} cover 72.09

[11:27] {BillyD} out rest ty

[11:27] {Threei} 1:2, cover 1/4 more

[11:27] {vinod} little scary for me with 2k

[11:28] {BillyD} where is your stop on RIMM now ...over .10

[11:28] {Threei} .15

[11:29] {Threei} gotta account for its natural volatility

[11:29] {BillyD} you are right

[11:29] {BillyD} it is a cleaner level

[11:33] {Threei} was it a thing of beauty or what

[11:33] {BillyD} yeah....it disconnected a bit from mkt

[11:34] {BillyD} with it's upticksa

[11:34] {Threei} MSFT CEO: Advertisitng by MSFT is a $2B business, predicts there will be "no newspapers in the future"

[11:34] {Threei} {newspapers} we predict there will be no MSFT in the future

[11:34] {Threei} predicts there will be "no newspapers, magazines or TV in the future"

[11:35] {Threei} will there be future?

[11:35] {BillyD} TV would be tough

[11:35] {Threei} cosmo, don't answer

[11:37] {BillyD} you trying for under .90 on you last partial RIMM

[11:37] {Threei} I guess

[11:37] {Threei} will sewe how it goeas

[11:37] {nemo} SO! you folks been cleaning up this morning???

[11:38] {Threei} yes, and we hurried to get it all before you get back

[11:38] {nemo} Yeah, sounds like you when you have to share vodka

[11:39] {Threei} I am not big on sharing

[11:39] {Threei} don't know why some make it such a priority

[11:43] {Threei} come on RIMM

[11:43] {Threei} give me sharp drop

[11:44] {BillyD} vad, look at TROW as short here if mkt drops for scalp

[11:45] {Threei} with market help, should work

[11:45] {nemo} I realize I'm thinking, but heading into lunch with the FOMC announcement coming seems like a recipe for, "Hurry up and wait"

[11:45] {BillyD} mkt help is key

[11:46] {Threei} RIMM 1:3

[11:46] {dino} wxs break of .50 last try

[11:46] {nemo} where'd you enter?

[11:46] {Threei} 72.25

[11:47] {nemo} oh, happy day :)

[11:47] {BillyD} nice RIMM read Vad

[11:47] {dino} you da man vad

[11:47] {Threei} I am certain I am no da woman

[11:48] {vinod} :(

[11:48] {Threei} not sure why it upsets you vinod {G}

[11:50] {Threei} SEC votes 5-0 on proposed money market fund rules

[11:50] {dino} lol

[11:50] {Threei} OK, enough is enough

[11:50] {Threei} I am out RIMM in full here

[11:50] {Threei} +.50

[11:51] {vinod} i am upset we sold too early

[11:51] {vinod} i sold

[11:51] {dino} mtmc

[11:52] {vinod} it was one trade 1k day

[11:53] {nemo} nice out on RIMM, running into that hammer support around 10:30

[11:54] {dino} gj vin

[11:54] {dino} ugh snda

[11:55] {nemo} yeah, look how fast it moved up

[11:55] {Threei} FLIR CEO: Military sales could exceed commercial sales; on track to reach annual sales forecasts (22.16, 0.14, 0.64%)

[11:58] {vinod} ORCL good to shoer?

[11:58] {Threei} why?

[11:58] {BillyD} RJET short .79 w/ .90 stop..any thoughts

[11:59] {Threei} all it did today was go up, and it exhibits no sign of letting up

[11:59] {BillyD} in rjet short

[12:00] {Threei} Warren Buffet: Not worried about deflation 'at all'; the economy has been "pretty flat," not seeing any bounce - CNBC

[12:00] {Threei} - Things are "in shambles" this year, will likely stay that way for some time to come.

[12:00] {Threei} - Strongly endorses Fed Chairman Bernanke, believes he should be reappointed for another term.

[12:00] {Threei} - Sees WFC as having 'dramatic' earnings potential with or without TARP (note Buffett has a stake in the compay)

[12:09] {ese} cya in about an hour.......still waitin on intc.......patience, patience...i smell money here

[12:09] {dino} remindes me of bill groos talking his book

[12:09] {ese} i mean patience as in go slow....not patience's handle

[12:10] {dino} sure ya did

[12:12] {patience} :)

[12:19] {Threei} is theree any life out there?

[12:19] {Threei} Mars?

[12:19] {nemo} hi

[12:19] {Threei} Saturn?

[12:19] {level777} mgm nose dive

[12:19] {Threei} see? no life in Las Vegas

[12:20] {BillyD} now RJET

[12:20] {Threei} or in the skies

[12:22] {dino} don't say that to wynn +2.33

[12:22] {BillyD} Vad, any thoughts on tighteneing my stop on RJET....short at .79 with stop of.90

[12:23] {Threei} it's kind of still there

[12:23] {Threei} nothing happened

[12:23] {BillyD} except time passing

[12:32] {Threei} Preview: Treasury's $35B 5-year note auction results due just after 1PM ET

[12:32] {Threei} - $35B auction size is unchanged from last two auctions

[12:32] {Threei} - prior bid-to-cover ratio 2.32 with an average of 2.16 over the last 10 auctions

[12:32] {Threei} - indirect bidders took 44.2% of competitive bids at last auction

[12:32] {Threei} - with 44.9% alloted at the high at last auction

[12:32] {Threei} - When Issued notes currently offer a yield roughly 3 basis points above the cash market at 2.69%

[12:38] {magoo} MON crushed

[12:39] {dino} lowered guidance and revs. light

[12:40] {BillyD} out RJET -.13

[12:43] {dino} wxs stop to b/e

[12:43] {dino} crtx spike

[12:44] {dino} ndx, s/p going to fill open gap? lately on up gaps they have been

[12:46] {dino} mon maybe looking to march lows

[13:01] {dino} myrg

[13:01] {Threei} TREASURY'S $35B 5-YEAR NOTE AUCTION BID-TO-COVER RATIO: 2.58 V 2.32 PRIOR AND 2.16 AVG OVER THE LAST 10 AUCITONS

[13:02] {Threei} indirect bidders take 62.8% of competitive bids

[13:02] {nemo} no reaction yet

[13:03] {nemo} a bit muted on this auction so far

[13:04] {magoo} we in anything vad??

[13:04] {dino} am

[13:04] {nemo} coma

[13:04] {Threei} in coma

[13:06] {dino} am seems a bit much

[13:07] {KSystems} hi :)

[13:07] {Threei} KS :)

[13:07] {Threei} L7... KS is the guy to ask about that weird nick message

[13:08] {KSystems} i am innocent

[13:08] {Threei} you all say that

[13:19] {level777} anybody following YRCW?

[13:19] {nemo} you

06[13:19] * level777 slaps nemo around a bit with a large trout

[13:19] {nemo} boy learns quick

[13:20] {nemo} l7...look at my name...be careful with trout...it is somewhat fratricidal to me...could be psychologically quite damaging

[13:22] {level777} all they had was trout, no sledgehammers available

[13:22] {dino} out wxs .75, +.25

[13:22] {nemo} actually there is, last option, then place your weapon of choice in the box...eg

06[13:23] * nemo slaps level777 around a bit with a large copy of Reality Trader Trading Room Etiquette

[13:23] {nemo} or

06[13:23] * nemo slaps level777 around a bit with a large chain mace

[13:23] {dino} am sm s .14

[13:25] {ese} back....howsssszit goin

[13:25] {nemo} dino...where stop

[13:26] {nemo} in coma ese...waitin' on FOMC

[13:28] {level777} wow, i saw MTMC at 2.50 and said.too illiquid

[13:28] {dino} .44

[13:28] {ese} when do they report nemo?

[13:29] {nemo} 2:15

[13:31] {nemo} I love this, sequential headings on news aggregator: "Oil rises above $69" "Oil falls ahead of Federal Reserve Statement"

[13:32] {dino} mtmc continues

[13:32] {dino} opps

[13:34] {dino} potential over years = $40 million

[13:37] {level777} MTMC getting run up on appx 1 mil shares outstanding on contract nbews...however, there are 30+ mil preferred outstanding..dont think many are aware or what the copnversion might be

[13:38] {Threei} SPEX...

[13:39] {Threei} Wednesday, June 24, 2009 1:01:40 PM

[13:39] {Threei} *TREASURY'S $35B 5-YEAR NOTE AUCTION BID-TO-COVER RATIO: 2.58 V 2.32 PRIOR AND 2.16 AVG OVER THE LAST 10 AUCITONS

[13:39] {Threei} - indirect bidders take % of competitive bids

[13:39] {Threei} - notes draw % with % alloted at the high

[13:39] {Threei} oops, wrong one

[13:39] {Threei} Wednesday, June 24, 2009 1:26:25 PM

[13:39] {Threei} Spherix Inc Announces Positive Phase 2 Study Results

[13:39] {Threei} - Preliminary Data Demonstrates Reduction of HbA1c Levels With Doses an Order of Magnitude Lower than the Dose Used in the Current Phase 3 Trial.

[13:40] {Threei} BAC Reportedly e-mail document sent by the Fed's Lacker states "management is gone" if BoA tried to call off its deal with Merrill - unconfirmed report

[13:40] {Threei} - the e-mail reportedly refers to a conversation about BoA management with Fed Chairman Bernanke

[13:40] {Threei} hello comrade Stalin

[13:41] {Threei} here is a little story from Russian history, you'll enjoy this one

[13:42] {Threei} legend goes, the factory manifacturing mathces weas infamous for a very low quality of the product

[13:42] {Threei} not having much to choose from people had to buy their matches

[13:42] {Threei} complaints grew louder, and at asome point reached Stalin's ears.

[13:43] {Threei} Director of the factory was summoned

[13:43] {Threei} visit to Stalin by itself was not a small occassion as you can imagine

[13:43] {Threei} and the guy wasn't even topld what it was about

[13:44] {Threei} He was ushered in the office,

[13:44] {Threei} Stalin sat at his desk reading some document and making remarks on the margin,

[13:45] {Threei} never raising his sight at poor guy, never speaking to him, at some point in dead silence he grabbed his smoking pipe

[13:45] {nemo} hehehehe

[13:45] {Threei} picked up matches manufactured by this factory

[13:45] {Threei} and started trying to ignite them.

[13:46] {Threei} 3 or 5 got broken not giving fire

[13:46] {Threei} Stalin sighed, put the pipe down on the desk and continued working

[13:46] {Threei} no single word, no eye contact

[13:46] {Threei} message was sent and heard :)

[13:47] {Threei} heads rolled, quality of the product was fixed in a matter of days

[13:48] {Threei} Preview: FOMC rate decision and statement due out at around 2:15pmET

[13:48] {Threei} **The FOMC is expected to hold rates steady at 0.25% again today, though speculation has begun to circulate that the Fed could modify its statement to clarify that, while it is thinking about exit strategies, it does not expect to raise rates any time soon. Currently Fed Funds Futures show a 36% chance of a rate hike by the end of 2009. The FOMC may also need to address its asset purchase program in today's statement, as it has already gone through over half of the current $300B allocation, and is on track to reach the full target some time in August or September. With the next FOMC meeting not until August, the Fed will likely need to use either today's statement or Bernanke's semiannual policy testimony in July to outline the Fed's future plans for asset purchases.

[13:50] {Threei} MTMC Halted; news pending (5.26, 3.87, 278.42%)

[14:00] {Threei} (US) Reportedly California will issue IOUs if there is no budget resolution

[14:00] {nemo} The Wimpy strategy

[14:01] {BillyD} Govt IOU's a bit scary

[14:01] {level777} no, Wimpy would issue an IOU tomorrow, for a hamburger today

[14:01] {BillyD} Vad, did it get like that when uou left Russia

[14:02] {BillyD} or govt gave you nothing to begin with

[14:02] {Threei} lol

[14:02] {Threei} it's not really a valid comparison

[14:02] {BillyD} two different worlds entirely

[14:03] {Threei} dictatorship vs democracy... private business based society vs centralized goverment-run economy

[14:03] {Threei} too deep divide

[14:03] {dino} lol l7

[14:03] {Threei} while one certainly can find a lot of similarities, those are either superficial

[14:04] {Threei} or simply based on the fact that human beings are human beings in any country

[14:04] {level777} dino, if you know what I meant by that post, you must be as old as me :)

[14:04] {Threei} I mean, if I had to compare the % of idiots in both societies, I wouldn't be able to tell the difference {G}

[14:04] {BillyD} lol

[14:05] {BillyD} it begins to somewhat diferentiate from that baseline

[14:06] {Threei} yeah

[14:06] {Threei} 9 min to non-event

[14:07] {dino} 44 l7, popeye

[14:07] {dino} whimpy

[14:08] {level777} thats it

[14:09] {dino} classic

[14:09] {level777} the unfortunate part is, im older than you :(

[14:10] {Threei} I can imagine worse situation

[14:10] {Threei} imagine someone who is as old as you are but stpid:

[14:11] {Threei} stupid

[14:11] {Threei} all the age problems with no advantages??

[14:11] {level777} i dont know it thats making me feel better

[14:11] {Threei} sorry... I tried :)

[14:11] {level777} as old as i am? hmmm

[14:11] {Threei} okay... as young

[14:12] {level777} ah, better

[14:13] {Threei} everyone is sooo fragile, I am scared to use trout anymore

[14:13] {Threei} walking on eggshells here

[14:13] {Threei} nemo seems to be the last one I can abuse with no fear of breakming him

[14:13] {level777} i take offense to that

06[14:13] * Threei slaps nemo around a bit with a large 35 lb scorching hot iron

[14:14] {level777} wow

[14:14] {ese} whooaaaaaouch!

[14:14] {Threei} see} he didn't even blink

[14:14] {dino} pretty thick skin here

[14:14] {ese} well ....sometimes discipline just has to be metted out.......

[14:14] {Threei} wait... maybe because he is uncosncious

[14:14] {Threei} 1 min

[14:14] {dino} did not grow up under rah rah regime

[14:15] {dino} he'll be late

[14:15] {Threei} non-event, AND late?

[14:15] {Threei} lol

[14:16] {dino} up down up

[14:17] {Threei} fashinably late

[14:17] {Threei} +o

[14:18] {nemo} huh? what? felt like a bug landed on my shoulder....maybe it was an acorn

[14:18] {Threei} unchanged

[14:18] {nemo} there goes fcx and tck

[14:18] {Threei} FOMC LEAVES RATE UNCHANGED AT 0.25%

[14:18] {Threei} amount of asset purcahses unchanged, target rate to be at low end for extended period

[14:19] {nemo} now on the down elevator

06[14:19] * nemo slaps Threei around a bit with a large copy of Das Kapital

[14:19] {BillyD} my L2 froze

[14:19] {nemo} up elevator on fcx

[14:19] {Threei} Financial markets have generally improved

[14:19] {Threei} - Consumer spending stabilizing,

[14:19] {nemo} at 0

[14:20] {nemo} how long can that keep up as people get fired

[14:20] {nemo} fcx down elevator again

[14:20] {nemo} dramamine please

[14:20] {dino} i was wrong, down 1st

[14:21] {Threei} whole lot of nothing came very fast

[14:21] {ese} wah wah wah???? is the market up....or is it down......

[14:22] {Threei} lol CNN

[14:22] {nemo} move along, nothin' to see here, just some Raven pickin' at corpses

[14:22] {Threei} Fed say things seems to be worsenining more slowly or getting more wose less fast

[14:23] {ese} qqqq big swings

[14:23] {dino} tbt spike

[14:24] {nemo} did that on the last couple of fomc meetings too, I think

[14:24] {ese} well that should mean canadian interest rates will basically stay the same so my mortgage payments will still be low

[14:24] {Threei} pretty much

[14:25] {ese} can invest more in Vad???

[14:25] {nemo} see if tbt breaches today's high...went right to it and is backing off a tad

[14:26] {BillyD} dino, you think yourAM would have dumped a little

[14:26] {ese} qqqq ...that isn't a candle stick chart.....it's stripes

[14:26] {dino} i thiyght so, dead $

[14:27] {dino} thought

[14:28] {dino} bstop tighten to .26

[14:28] {dino} needs to break .00

[14:28] {BillyD} yes

[14:28] {BillyD} getting closer

[14:28] {dino} i should say; "i need it to break .00"

[14:29] {dino} tear down that wall

[14:30] {BillyD} everything jumps so much it is hard to get solid setup

[14:30] {Threei} there is none

[14:30] {Threei} stays on a sideline

[14:31] {Threei} let those who must trade every second get chewed up and spat out

[14:31] {dino} am bstop to b/e

[14:31] {dino} dji gap filled

[14:33] {nemo} How in tarnation do you trade that ekg...look at fcx, tck, rimm

[14:34] {Raven} careful

[14:36] {nemo} about my earlier comment Raven :) or the one immediately preceing?

[14:36] {nemo} preceding

[14:37] {Raven} the earlier one ...

[14:37] {nemo} Oh...brief aside: Raven...what specific optics do u use birding?

[14:38] {Raven} I have several ... 8x40 binos and 10x40 too

[14:38] {nemo} specifically...I'm an optics snob

[14:38] {Raven} 20-60 power scope

[14:38] {nemo} spotting scope?

[14:38] {Raven} yup

[14:38] {dino} i have the only short that doesn't drop

[14:39] {BillyD} lol....

[14:39] {nemo} Nikon, Bausch & Lomb, Swarovski, Leica, Kahles

[14:39] {nemo} ?

[14:39] {BillyD} it kinda makes you feel singled out

[14:39] {Raven} scope is Bushnell ... bino's Bushnell and Zeiss

[14:40] {nemo} Bushnell...the elites?

[14:40] {nemo} Zeiss...Schott Glasswerk, nice stuff

[14:41] {Raven} yes but my Zeiss ate 25 years old and the lenses on my throw away Bushnell almost a good

[14:41] {nemo} less accent with the Zeiss

[14:41] {Raven} the Bushnell binos cost $105 ... rofl

[14:41] {dino} am covered flat

[14:42] {nemo} I find at about $900 is where it becomes difficult to tell the difference, below that, I see differences in optics...best I've seen in that range are Nikon...although have Bushnell Elite scope

[14:43] {Raven} I will check the cheapie model ... brb

[14:44] {ese} sell off to clear out weak hands???

[14:44] {nemo} SON

[14:44] {ese} or are we actually headed down

[14:45] {Raven} Bushnell Nature View 8x42 ... was $105 delivered last year

[14:45] {nemo} What state are you in Raven?

[14:45] {Raven} Michigan

[14:45] {ese} now were headed up ...... well i can officially tell you that i can't trade this type of market.....have no f^%$%$ idea

[14:46] {nemo} Any Cabelas or Bass Pro shops around you?

[14:47] {Raven} Cabelas two hours east

[14:49] {BillyD} Vad, do you trade the ETF's like EDZ etc and is there a way to eliminate them from scanner

[14:49] {nemo} A bit far...If you haven't already, and you get a chance, they'll have a large selection from cheap to expensive...Spend some time at the counter and, if you can, look at camoflage clothing at a distance. Low contrast differentiation, espcially in low light is where the differences really show up. Usually the optics counter is in the middle of the Cabela's store.

[14:50] {Threei} not sure about elimination billy

[14:50] {BillyD} I don't see a way

[14:50] {Threei} wouldn't want to ban whole exchange

[14:51] {BillyD} no

[14:51] {Threei} although AMEX is not very valuable exchange

[14:51] {BillyD} I just have NYSE and NASDAQ selected

[14:52] {Threei} there was time when almost all ETFs traded at AMEX

[14:52] {Raven} I will try that sometime ... spend a hour or so endearing meself to clerk ... and buy nothing

[14:52] {Threei} ARUN

[14:58] {dino} jpm sm l .40

[14:59] {nemo} happens all the time Oh winged one

[14:59] {Raven} yes

[15:00] {nemo} Besides..maybe you'll be struck by the difference, and go, "What the Hell...can't take it with me anyway."

[15:01] {Raven} lol ... I have made comparisons ... so not likely

[15:01] {nemo} then again...maybe not

[15:01] {vinod} one more trade before close?

[15:03] {Threei} if it comes around

[15:03] {vinod} i am still upset about RIMM

[15:03] {Threei} it's not like I have them but don't share :)

[15:03] {dptl} have a good evening all

[15:03] {Threei} take care dp

[15:03] {BillyD} cya dp

[15:03] {vinod} just kiding

[15:03] {ese} cya dp

[15:04] {dino} cya dp

[15:09] {dino} dji broke yesterdays' lod

[15:09] {nemo} Rimm heading towards .60 breakdown?

[15:10] {Threei} ummm... yes? :)

[15:10] {nemo} lotta' air under there

[15:15] {nemo} big volume spike on that green candle

[15:16] {ese} what makes sense here dow to 8000

[15:16] {ese} or bounce with low interest rates

[15:17] {dino} 8016 gap es

[15:17] {dino} then 7776, 7273, 6547

[15:18] {ese} not seeing that gap.......what day was that dino

[15:18] {dino} 4/28, 4/2, 3/20, 3/9

[15:20] {dino} on other side 8799; 3/12

[15:20] {dino} 6/12 i mean

[15:22] {ese} hmmmmm gotta think about different charts.....my daily charts arn't showing some of those

[15:23] {dino} i could be wrong

[15:23] {ese} were talking about the "indu" right?

[15:23] {ese} theres gaps all over my s&p and naz charts

[15:24] {dino} yes

[15:25] {dino} i have 1361,1252,1187,1043 ndx

[15:25] {dino} 855,811,768,676 s/p

[15:25] {dino} 8799,1489,946 6/12

[15:26] {dino} 1471, 920 6/19

[15:26] {ese} hmmmmm for instance a biggie on my COMP is 10/03/08 that needs to be filled to the upside...to me that would take priority

[15:26] {dino} it very well may, :)

[15:28] {dino} i suppose depends on recovery, a "v" or "w". i'm in "w" camp

[15:29] {nemo} what about a \/\_________

[15:30] {vinod} it is going to be V=V=W

[15:30] {ese} i'm in w camp with shallow pullback

[15:30] {vinod} V+V=W

[15:30] {ese} comp to me is looking like huge cup and handle

[15:31] {dino} prefer a beer mug

[15:31] {ese} the dow on the other hand doesn't......could head down to 7500 for head and shoulders botom

[15:36] {vinod} have a nice evening to all

[15:37] {Threei} take care vinod

[15:37] {dino} cya vin

[15:37] {ese} cya vin

[15:38] {ese} and still stalking intc .30

[15:39] {wulff} is there some higher trading math I missed?

[15:39] {dino} indeed

[15:39] {dino} pnra sm l .10

[15:40] {dino} 3:40

[15:45] {dino} rbcn

[15:47] {ese} i'm outta here also........take care see ya tomorow

[15:47] {Threei} take care ese

[15:47] {nemo} cuese

[15:47] {dino} cya es

[15:48] {dino} ugh snda, 3 pts over my exit

[15:52] {wulff} yeah. I sold into strength!

[15:52] {wulff} I love what you said.

[15:53] {wulff} hat else are you going to sell into?

[15:53] {Threei} right

[15:53] {Threei} sell peanuts when there is a circus in the town

[15:53] {wulff} still hard to remember and not get greedy

[15:53] {Threei} because when cirus leaves who are you going to sell peanuts to

[15:54] {Threei} or "feed them when they are quacking"

[15:56] {BillyD} ARUN...everyday on scanner but due to chart can't bring myself to trade it

[15:58] {Threei} we traded it couple times

[15:58] {Threei} today is tough

[15:58] {wulff} RIMM loks to Breakout . too bad

[15:58] {Threei} will look at it tomorrow again

[15:59] {Threei} okay guys

[15:59] {Threei} thank you all

[15:59] {BillyD} AM strong as an ox

[15:59] {Threei} nice day eve though second half was blah

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

[15:59] {Alw} ty

[15:59] {BillyD} cya

[15:59] {dino} out jpm +.07

[15:59] {Threei} (US) Reportedly, California's bill to cut $11B in spending did not pass (related MUNIS )

[15:59] {Threei} IOU it is

[16:02] {dino} gotta hop, golf. gn all