Jul 16 2009

Mostly inactive second half of the day (what else is new?) but the morning brought profits on WFC, RIMM and AA - this last one was real torture speed wise. Can't be too picky in the summer trading though.

Session Time: Thu Jul 16 00:00:00 2009

[08:26] {fernp} good morning everybody

[08:27] {nemo} :)

[08:27] {tomg} good morning fern, nemo, everybody :)

[08:37] {Threei} Good morning

[08:37] {nemo} :)

[08:38] {cosmo} ....so far

[08:38] {cosmo} :)

[08:38] {Threei} *INITIAL JOBLESS CLAIMS: 522K V 553KE; CONTINUING CLAIMS: 6.273M V 6.850ME

[08:38] {Threei} - Prior jobless claims revised from 565K to 569K

[08:38] {Threei} - Prior Continuing Claims revised from 6.883M to 6.915M

[08:38] {Threei} **Labor Dept: jobless claims were affected by seasonal factors, manufacturing and auto sector layoffs were less than typical; expected auto layoffs have already taken place.

[08:40] {_johnk3} gm

[08:41] {Threei} johnk :)

[08:41] {Threei} whole bunch of developments with CIT yesterday

[08:41] {Threei} interetsed or skip?

[08:41] {nemo} sure

[08:42] {Threei} very informative answer

[08:42] {nemo} well?

[08:43] {Threei} US Govt still evaluating aid for CIT; discussions could reportedly still end with bankruptcy - unconfirmed report

[08:43] {Threei} - Source notes that situation at the company could be bad enough that Govt aid may not help

[08:43] {Threei} Discussions with government agencies have ended, advised there is no "appreciable likelihood" of additional government support in the near term

[08:44] {Threei} Follow Up: Treasury has no comment on the company's statement

[08:44] {Threei} Treasury: High threshold exists for exceptional government aid; Says US has a strong set of financing tools to help restart overall credit markets

[08:44] {Threei} - Says several solutions for CIT were considered, but the firm's difficulties were too substantial.

[08:44] {Threei} - Says the liquidity situation at CIT had deteriorated to the point where solutions became unworkable.

[08:44] {Threei} Treasury: Bankruptcy not a foregone conclusion for the company and other restructuring options may be considered

[08:44] {Threei} - Unlike other firms that had government aid, CIT had not demonstrated that it could raise private capital and stay solvent.

[08:44] {Threei} - Believes that a CIT failure would not be as disruptive for markets and small businesses as in the past

[08:44] {Threei} - WSJ: Treasury expects to lose entire $2.3B TARP investment in CIT.

[08:45] {magoo} morning

[08:45] {Threei} FDIC Chairman Bair is seeking tougher curbs on the size and risk-taking of the US' largest financial firms

[08:45] {Threei} - The FDIC will propose charging the largest bank holding companies fees to the extent that they carry out non-traditional lending activities, such as proprietary trading.

[08:45] {Threei} mags :)

[08:45] {nemo} Magus

[08:46] {Threei} CIT Group Inc Has 24 hours to secure a $2B rescue financing sum; without financing, bankruptcy appears likely - WSJ

[08:46] {Threei} - Treasury official saw as much as half of TARP investment lost in value, says CIT's problems are too large to be resolved through govt aid

[08:46] {Threei} - Official also noted that CIT problems are not expected to be systemic, with bankruptcy possibly but other options still on the table

[08:46] {Threei} - Follow Up as of 23:10 EST: According to CNBC, CIT Group is likely to file for bankruptcy Friday.

[08:46] {Threei} - The CNBC report cited an unnamed source.

[08:46] {Threei} **Note: As of 12/2008, CIT had assets of $80.4B and liabilities of $72.3B.

[08:46] {magoo} so rumor not being saved?

[08:47] {Threei} rather: doesn't look like can be saved

[08:47] {Threei} look at this:

[08:47] {Threei} US Trade Rep Kirk: US has allowed certain trade partners to run over the country - interview

[08:48] {nemo} protectionism

[08:50] {BillyD} gm all

[08:50] {Threei} Billy :)

[08:50] {magoo} anyone know when bidu reports?

[08:53] {nemo} mags, they last reported on 4/27 so that would put them sometime at the end of the month-nothing yet

[08:53] {magoo} hm..ty

[08:53] {larisa} gm :)

[08:54] {Threei} larisa :)

[08:54] {Threei} GOOGS's today though, mags

[08:55] {magoo} yup

[08:55] {cosmo} BFRM

[08:55] {cosmo} FDA OK

[08:56] {cosmo} (FDA) approval for a method of mixing RADIESSE(r) dermal

[08:56] {cosmo} filler with lidocaine, which, in clinical trials, has demonstrated an

[08:56] {cosmo} improvement in patient comfort and an increase in patient satisfaction

[08:57] {cosmo} ... to things in general...

[09:01] {magoo} vad..u see pot and mos?

[09:01] {magoo} thinking short

[09:02] {Threei} well... not right now? :)

[09:02] {nemo} are you asking him or telling him?

[09:04] {Threei} consider it rhetorical question

[09:10] {dino} gm all

[09:11] {Threei} dino :)

[09:12] {texus} gm

[09:12] {Threei} texus :)

[09:12] {nemo} jpm down on a big beat

[09:15] {vinod} GM to all

[09:15] {Threei} vinod :)

[09:15] {nemo} vino

[09:16] {vinod} My intention is to help AIG today so you guy don't harrase AIG will short it?

[09:16] {Threei} well, we can't short it

[09:17] {Threei} so if anything, will play long... but only if it forms something convincing

[09:17] {vinod} them i may go after RIMM?

[09:20] {Threei} why predetermine what you are going to short?

[09:21] {Threei} whatever forms right setup and is supported by market direction, can be played

[09:23] {vinod} yes,I never do what I think is good trade untill i see real price

[09:25] {dptl} good morning all

[09:25] {Threei} dp :)

[09:27] {ese} damn thing....why pick on me this morning

[09:28] {ese} good morning

[09:28] {Threei} ese :)

[09:28] {Threei} lol... you enter wrong nick and expect it to understand? :)

[09:29] {ese} i swear on a stack of bibles that i entered ther right nick and pass

[09:29] {ese} 3/4 times

[09:29] {Threei} you have autofill on

[09:29] {Threei} you start typing, it filles to old nick

[09:29] {ese} nope

[09:30] {Threei} you click OK and boom, you have esemede in the username field

[09:30] {ese} don't know how to set that....where is it

[09:31] {_johnk3} stocks we are watching?

[09:31] {Threei} Assistant Treasury Secretary Allison: still expect millions of foreclosures even if the Obama program is a complete success

[09:32] {Threei} WFC

[09:32] {Threei} watching selling to pick a reversal

[09:32] {nemo} jpm too

[09:32] {_johnk3} thx

[09:33] {Threei} want one more leg down

[09:33] {Threei} if this is reversal, I'll let it go

[09:33] {nemo} not much of a range

[09:34] {_johnk3} RIMM?

[09:34] {Threei} too volatile

[09:34] {Threei} wfc

[09:35] {ese} stx

[09:35] {ese} waiting for pullback

[09:36] {Threei} ok, this is more like it

[09:36] {jfjf64} mornin

[09:36] {Threei} jf :)

[09:36] {nemo} fcx up a buck

[09:36] {Threei} Long Setup: WFC .85 break

[09:36] {Threei} if stays above .75

[09:37] {ese} it might cover the the .60 to .40 gap vad

[09:38] {Threei} looks ready to me

[09:38] {Threei} anyway, stop is small enough

[09:39] {ese} in wfc .85

[09:39] {fernp} in WFC

[09:40] {vinod} in.86

[09:40] {Threei} 1:1, half out or scalp

[09:40] {fernp} and out WFC

[09:40] {ese} out .93

[09:40] {fernp} ty Vad

[09:40] {jfjf64} out 92 ty

[09:40] {Threei} stop to .70 if you partial

[09:41] {ese} +.07

[09:41] {Threei} .79

[09:41] {vinod} 0ut.93

[09:41] {ese} tks vad!

[09:41] {Threei} sheesh... full room of pesky scalpers

[09:41] {nemo} out .93 hard getting fill

[09:41] {Threei} welcome of course, lol

[09:41] {nemo} Tyvm

[09:41] {_johnk3} godd trade V, thx

[09:42] {texus} out .92 too, ty

[09:42] {Threei} am I the only one holding half still??

[09:42] {BillyD} yea, I am out

[09:42] {_mikej} no iam

[09:42] {Threei} whew

[09:42] {magoo} i am

[09:42] {Threei} offering 1/4 more 25.04

[09:43] {Threei} stop is still under .80

[09:43] {vinod} got to go see you after lunch time

[09:43] {Threei} take care vinod

[09:43] {BillyD} cya vin

[09:43] {nemo} Vinod- another one-trade-stand

[09:44] {Threei} lol

[09:44] {Threei} will trail to .84 if breaks .96

[09:44] {ese} sure ....trade...win ....and run....whats that all about lol

[09:44] {Threei} vene vinodi vici

[09:44] {nemo} makes you feel used ese

[09:45] {Threei} stop to under .85

[09:45] {ese} definately......lol

[09:45] {nemo} Which reminds me, I have a friend who works in counseling...she was talking about sexual molestation

[09:45] {Threei} out 1/4 more 25.04

[09:45] {nemo} You always here about Men molesting young girls

[09:45] {magoo} out TY

[09:46] {Threei} stop to under .90

[09:46] {nemo} She says the incidence of Women molesting young men is actually much higher...we just don't complain

[09:46] {Threei} offering last part at 25.12

[09:47] {BillyD} taking it to the last penny eh Vad

[09:47] {Threei} me greedy

[09:47] {BillyD} lol

[09:47] {Threei} me also lazy - this one I already found, next one I still have to find

[09:47] {jfjf64} good time to be

[09:47] {nemo} He's not that good...he only get's within 1 or 2 cents of the top tick

[09:50] {Threei} Long Setup: RIMM .40 if stays above .25, half lot

[09:50] {dino} cov .60 pot +.40

[09:52] {Threei} over 1:1 RIMM

[09:52] {Threei} out +.33

[09:53] {magoo} out .78 TY

[09:53] {Threei} :)

[09:53] {ese} L intc .18

[09:53] {Threei} WFC held by fingertips

[09:54] {Threei} come here my meatball

[09:54] {Threei} see that 25.12? just take it

[09:54] {_johnk3} great trade RIMM V, thx :)

[09:54] {Threei} :)

[09:55] {jfjf64} xlnx tk look at vad

[09:55] {Threei} Long Setup: FITB .40 if stays above .35

[09:55] {Threei} just a scalp most likely

[09:56] {Threei} XLNX, .65 break maybe

[09:56] {jfjf64} ya lk .65 brreak

[09:57] {Threei} done with WFC

[09:58] {ese} L intc again avg price .186

[09:59] {BillyD} vad, look at EWBC

[10:00] {_johnk3} XLNX?

[10:00] {_johnk3} was this a definite maybe? :)

[10:00] {Threei} EWBC, I don't understand it

[10:01] {BillyD} ok

[10:01] {nemo} xlnx would have scalped

[10:03] {BillyD} ROST Vad is a nice uptrend, maybe .30 B?O

[10:03] {BillyD} B/O

[10:03] {Threei} US) Reportedly House panel adds $485M to defense budget for helicopter programs

[10:03] {Threei} - Helicopter funds to restore LMT helicopter program

[10:03] {Threei} heh

[10:03] {Threei} hypocrisy run wild

[10:04] {Threei} small shares Billy...

[10:04] {_mikej} xlnx ?

[10:04] {Threei} stop is a bit too far and stock isa bit too thin

[10:04] {BillyD} yeah, it is jumpy

[10:05] {ese} blind sided by the philly fed again

[10:05] {Threei} leave XLNX alone guys... that was specific question I answered, and jf knows how to play that one... kind of individual stock and setup

[10:06] {dino} sds l .60

[10:06] {jfjf64} sorry guys

[10:06] {nemo} don't do it again jf

[10:06] {nemo} :)

[10:07] {dino} out sds .72, +.12

[10:07] {magoo} AIG vad dumps

[10:08] {Threei} yeah, too bad it's non-shortable today

[10:08] {larisa} I can, close eyes, short and wait for 10 ?

[10:08] {nemo} funny girl

[10:08] {Threei} first two plays were easy... don't really want our third one to be AIG long, lol

[10:09] {larisa} :)

[10:10] {jfjf64} .55 l nok

[10:11] {Threei} .76 is a long trigger though if holding .65

[10:11] {Threei} and .64 is short trigger

[10:11] {BillyD} aig Vad?

[10:11] {Threei} yeah

[10:12] {BillyD} invalidated right?

[10:12] {Threei} yup

[10:14] {jfjf64} nok invalid here

[10:16] {larisa} vad RIMM you called off higher low? it was perfect price div, but you do not look for such things, right? ty

[10:16] {magoo} vad, look AA

[10:17] {Threei} wtaching

[10:18] {Threei} why not larisa? of course I do

[10:18] {Threei} that was double bottom, higher low, range established betgween .20 and .40,

[10:18] {Threei} one more pullback bottoming out above .25,

[10:18] {Threei} .40 becoming perfect trigger

[10:20] {Threei} Long Setup: AA .20 break if stays above .10

[10:21] {larisa} plus price divergence with all possible indicators. Was perfect setup, nice call RIMM

[10:21] {Threei} well, that I wouldn't know since I don't watych any indicators :)

[10:22] {jfjf64} nice larissa

[10:22] {larisa} this is why I ask, genius vad :)

[10:22] {Threei} lol

[10:22] {nemo} How much you pay her, Vad?

[10:22] {Threei} I missed the "price div", thought you meant higher low

[10:22] {Threei} Short Setup: RIMM .60 break half lot

[10:23] {BillyD} I am glad you asked, at first glanc eI did not see what Vad was calling and passed on trade....now I know better

[10:23] {Threei} if stays below .75

[10:24] {BillyD} does the RIMM spike invalidate it?

[10:25] {Threei} not if it trades for a min or two under .75 again

[10:25] {Threei} but another move over .75 will

[10:25] {BillyD} ok, sometimes it does and sometimes it doesn't

[10:25] {Threei} yeah

[10:26] {Threei} brief spike with very few trades, kind of natural volatility for this one

[10:26] {BillyD} with AIG spike below .64 and it's overall weakness made that spike more confirming right?

[10:26] {Threei} after all, we are trying to nail setup with 15 cents range on a very volatile stock

[10:26] {Threei} gotta give it some leeway

[10:26] {dino} sds s .50

[10:27] {Threei} now RIMM is fully invaliadetd

[10:27] {Threei} and in fact became a fade

[10:27] {Threei} but I had no time to call it, lol

[10:27] {BillyD} does my AIG comment make sense?

[10:27] {Threei} yup

[10:28] {BillyD} ok, just trying to follow

[10:28] {_bradc} AA?

[10:28] {Threei} still valid

[10:29] {Threei} it actually formed two setups in one...

[10:29] {Threei} one for scalpers

[10:29] {Threei} .20 break long with stop under .15

[10:29] {Threei} one for daytraders, with srtop under .10

[10:29] {Threei} whatever rocks your boat, both are valid

[10:29] {dino} cov sds .38, +.12

[10:30] {Threei} RIMM{ if I were smart and called two-sided setup in advance, we would have had over 1:1 here

[10:31] {Threei} 1:2

[10:31] {Threei} why oh why am I not smart

[10:32] {BillyD} get smarter

[10:32] {Threei} I will try my best

[10:32] {dino} you want me to slap the stupid out of you?

[10:32] {BillyD} rofl

[10:32] {Threei} I am afraid by doing that you will slap the whole me out of me

[10:33] {jfjf64} market movin nice

[10:33] {nemo} you'd have to hit him in the ass Dino

[10:33] {dino} or how about we change your nickname to meathead

[10:33] {texus} anyone else in AA?

[10:33] {Threei} nah, I better go to monastery

[10:33] {larisa} you either smart or genius, can not be both

[10:33] {dino} no but i should be

[10:34] {Threei} yes tex

[10:34] {nemo} yes

[10:34] {Threei} it triggered fair and square, why the doubt

[10:34] {fernp} in AA. yes

[10:35] {texus} didn't see anyone say they were in, all good :)

[10:35] {jfjf64} in aa tex

[10:35] {jfjf64} lets goooooooooooooooooooooooo

[10:35] {Threei} they hold out on us tex

[10:35] {Threei} then if it works they all say sure we wer

[10:35] {texus} ahhh...

[10:36] {Threei} if it doesn't, they say "of course we skipped it, it was so stupid to call it"

[10:36] {jfjf64} quiet assins ya trainin vad

[10:36] {Threei} lol

[10:36] {dino} lol

[10:36] {fernp} and in HIG from ,80 with stop under .70

[10:36] {Threei} wow, that was a good setup

[10:37] {fernp} ty

[10:37] {Threei} but fern held out on us too

[10:37] {nemo} volume dropping on AA increase

[10:38] {jfjf64} thanks nemo

[10:39] {wulff} WFC if you believe

[10:39] {Threei} WFC, I looked at it at .80, was nice-looking setup

[10:40] {Threei} just felt like a bit too operfect

[10:40] {Threei} and market was quite uncertain... so I refrained

[10:41] {Threei} AA used to be much faster than this

[10:42] {jfjf64} aig vad .80 break ya lk

[10:42] {wulff} Cramer pushing SNDK big

[10:42] {Threei} not sure jf

[10:42] {Threei} kind of 50/50

[10:43] {jfjf64} no lk 50/50 ty

[10:43] {Threei} see, AIG here is a pure risk based setup

[10:43] {Threei} what I mean by yhis is:

[10:43] {dino} sds l .20

[10:43] {Threei} it can go up or down in such situation as this with equal odds,

[10:44] {Threei} so if you find a formation with stop tight enough for you to shrug it off if not working, it's a valid play

[10:45] {magoo} too funny cause i took .75

[10:45] {magoo} before

[10:45] {jfjf64} thats what is hard to find stop formation i luv

[10:45] {magoo} low

[10:45] {Threei} well, low of the range

[10:45] {Threei} is natural support

[10:45] {Threei} thus becomes a stop if broken

[10:46] {jfjf64} .60

[10:46] {Threei} yes for a scalp

[10:46] {Threei} there is one more support level near .50

[10:46] {Threei} if you go for a longer trade, gotta give it a bit more room

[10:47] {Threei} and then of course whole array of different kinds of entries come into play...

[10:47] {jfjf64} go magoo

[10:47] {Threei} regular vs aggressive vs consevative

[10:47] {magoo} could rip

[10:47] {magoo} thats why interested

[10:47] {Threei} magoo went for regular

[10:47] {Threei} you eyed a bit more conservative

[10:47] {jfjf64} ty vad

[10:48] {jfjf64} that stop to bg for me

[10:48] {Threei} everyone knows/remembers diferent kinds of entries and their trade-offs?

[10:48] {BillyD} yes

[10:48] {jfjf64} but 3x hittin off.80 hmm

[10:49] {BillyD} now or never AA

[10:49] {Threei} {AA} don't pressure me

[10:50] {jfjf64} forgot aa how funny must be up BIG this week ty vad

[10:50] {Threei} welcome sir... nice to hear

[10:51] {magoo} out ,87

[10:51] {dino} out sds .32, +.12

[10:51] {magoo} will most likely reload

[10:51] {nemo} market ddrop

[10:51] {jfjf64} gj magoo

[10:52] {Threei} (US) Senator Bunning: States FDIC's Bair has stated that up to 500 more banks could fail (related XLF )

[10:53] {fernp} AA stop is still under .10, no?

[10:53] {jfjf64} need market to bounce movin avg for aa

[10:54] {Threei} {AA} told ya I do things at my own pace

[10:54] {Threei} no fern, I'd move it to under .15

[10:54] {BillyD} it was subtle suggestion technique

[10:54] {Threei} and scalpers got their 1:1

[10:54] {fernp} ty

[10:55] {dino} (US) dino says maybe more maybe less than 500 failures...see i could be politician too

[10:55] {nemo} a weatherman or economist also

[10:56] {Threei} isn't it ironic: magoo who hates slow stocks brought the slowest of today's plays, AA

[10:56] {magoo} but im not in it

[10:56] {nemo} frickin' comic book characters

[10:56] {Threei} say what?

[10:56] {magoo} not my type

[10:56] {nemo} fcx vad

06[10:56] * Threei slaps magoo around a bit with a large roll of cash

[10:56] {jfjf64} wide lines hd that feelin gettin in

[10:57] {Threei} CIT CNBC's Faber private equity and fixed income firms are in some talks to secure financing (0.41, -1.23, -75.13%)

[10:58] {Threei} well FCX...

[10:58] {Threei} FCX formal long trigger is .80 break...

[10:58] {Threei} but stop is quite wide

[10:58] {Threei} and stock is far from easy

[10:58] {nemo} been building a base though around .70

[10:58] {Threei} .70 is not a reliable support

[10:59] {jfjf64} look cof very strong

[10:59] {dino} sds l .35

[10:59] {nemo} should we move stop to .20 on aa?

[10:59] {jfjf64} market sellin this flyin

[11:00] {Threei} kind of personal preference nemo

[11:00] {Threei} can trail to under .20, can keep under .15

[11:01] {Threei} COF.. not sure about breakout but pullback into .80 would get me interested

[11:02] {Threei} US Houes Speaker Pelosi: Could possible change the high end of the healthcare surtax

[11:02] {jfjf64} was watchin break of .70 im sick

[11:02] {Threei} that was a good one

[11:03] {nemo} damn, watching aa missed break on fcx

[11:04] {jfjf64} lk how vol spiked up at .70

[11:05] {jfjf64} that was the ticket i missed it

[11:06] {magoo} a

[11:06] {magoo} i

[11:06] {magoo} g

[11:06] {dino} sds stopped -.10

[11:07] {magoo} in .85

[11:07] {jfjf64} even 2nd setup .85 i think valid cof also

[11:07] {magoo} looking for a RIPPPPPPP

[11:08] {magoo} [10:51] {magoo} out ,87

[11:08] {magoo} [10:51] {magoo} will most likely reload

[11:08] {magoo} [10:51] {nemo} mar

[11:08] {wulff} wow rimm

[11:08] {jfjf64} nice magoo lk it at .90 break gj

[11:09] {magoo} prolly .17 area

[11:09] {jfjf64} stop to .95

[11:09] {dino} rinsed

[11:10] {jfjf64} stop to .10

[11:10] {dino} reload .35 again sds

[11:11] {magoo} out .17 TY vad

[11:11] {jfjf64} gj magoo

[11:11] {magoo} jf careful

[11:11] {nemo} out aa

[11:11] {magoo} u out

[11:11] {jfjf64} y

[11:12] {magoo} make $$?

[11:12] {jfjf64} 18 cents

[11:13] {larisa} nice

[11:13] {dino} out sds .50, +.15

[11:14] {jfjf64} cof pull bk vad

[11:15] {Threei} not sure

[11:15] {Threei} get this:

[11:15] {Threei} US House Speaker Pelosi: Some of the wealth surtax could be used to pay down the Govt deficit

[11:15] {dino} why oh why don't we cut something rather than tax and spend

[11:16] {Threei} better yet: spend more than we taxed, so then we raise tax to compensate for overspending

[11:16] {jfjf64} cof interestin bulls bears fightin

[11:16] {Threei} and of course collecting more tax, we raise the spending again

[11:17] {Threei} but as Tatcher said... the problem with socialism is, sooner or later you run out of other people's money

[11:17] {dino} between state and federal taxes, the projections for these changes are at 55% tax rate, notcounting real estate/school taxes

[11:19] {dino} sds l .60

[11:19] {ese} I hadn't heard that saying before vad....but thats oh so true

[11:21] {dino} and i still think the dumbest thing is we spend 300-600 billion on oil, while we have enough nat. gas to last 150 years. it could power everthing

[11:21] {dino} not to mention the jobs it would create.

[11:22] {nemo} environmentalists 1) don't want a carbon based source of energy, and 2) don't want cheap energy

[11:23] {dino} you said it nemo

[11:24] {nemo} What's really scary, although, if they started with the Capitol and each state house, I wouldn't be opposed; many of the environmental groups believe in a radical reduction in the earth's population

[11:25] {Threei} and 3) want us all to wear fabric bags with holes for the head and arms and live in caves

[11:25] {dino} bunch of idiots w/$

[11:25] {nemo} Having said that, if they want to volunteer for population reduction, I'll gladly offer my services for free

[11:26] {dino} lol

[11:28] {dino} es, how did you shoot yesterday?

[11:28] {Threei} "how" or "who"?

[11:28] {dino} golf, how

[11:28] {Threei} sigh.. nevermind

[11:29] {dino} i get it

[11:29] {dino} but we cannot print that

[11:29] {jfjf64} cof missed again

[11:29] {Threei} lol

[11:29] {dino} up or down vlad the impaler

[11:30] {dino} caesars coin says down

[11:30] {Threei} don't have an opinion yet

[11:30] {Threei} kind of moment of indecision in the market

[11:30] {jfjf64} cof double top with market droppin

[11:31] {dino} thats why we have the coin

[11:38] {Threei} hmmm... this is from e-mail I got:

[11:38] {Threei} Looking gorgeous doesnt require big sums of money

[11:39] {Threei} yeah? I couldn't manage it on the cheap, nor for considerable expense...

[11:41] {dino} sds stopped -.15

[11:42] {jfjf64} cof

[11:42] {jfjf64} wow

[11:42] {dino} sds s .45

[11:42] {jfjf64} triple top to yesterday

[11:58] {dino} cov sds .25, +.20

[12:02] {Threei} Long Setup: AIG 13 break if holding above 12.90

[12:08] {Threei} yawn

[12:10] {dino} up or down vad?

[12:10] {Threei} sideways...

[12:10] {dino} unacceptable

[12:11] {Threei} sorry

[12:11] {Threei} but that's all I have

[12:11] {dino} you know, i'm starting to think you don't care

[12:11] {BillyD} COF a strong teaser

[12:12] {Threei} starting??

[12:12] {Threei} I stated years ago... I don't :)

[12:12] {BillyD} it seems

[12:14] {BillyD} Vad, do you care at all about COF

[12:14] {Threei} US Rep Frank: Committee will handle executive compensation topic in the last week of July

[12:14] {Threei} - Legislation includes 'say on pay' and will place curbs on excessive risk taking behavior

[12:15] {Threei} I jave hard time reading things when pace is so miniscule, Billy

[12:15] {BillyD} it's a slow dabce...lol

[12:15] {BillyD} dance

[12:15] {BillyD} that's why it's a tease

[12:16] {dino} lol

[12:23] {Threei} sorry dino... but 15 min later, it's still sideways

[12:24] {dino} guess you were right

[12:24] {Threei} not that I am glad to be

[12:24] {Threei} I would prefer the darn thing to start moving

[12:24] {Threei} but we may have to wait till after Labor day for that, lol

[12:25] {Threei} overall, my belief is, for the slow summer trading we are doing remarkably well

[12:25] {dino} scalpers market

[12:25] {Threei} finsing trades every day and winning most of them

[12:25] {Threei} finding too

[12:26] {dino} its so flat that sds crack won't budge

[12:26] {jfjf64} cof cof

[12:27] {jfjf64} fire sale

[12:27] {Threei} lol

[12:27] {Threei} good one jf

[12:28] {jfjf64} lot of entry didnt tk one

[12:29] {BillyD} skimpy mkt cuases me too not take some good setups

[12:29] {BillyD} causes

[12:29] {Threei} exactly Billy

[12:29] {Threei} oh sorry

[12:29] {Threei} eqzaktly

[12:29] {BillyD} lol

[12:29] {Threei} just as skimpy oputfits cause us to... errr.... cough, nevermind

[12:30] {BillyD} sigh

[12:30] {dino} huh? you say something

[12:31] {wulff} will be in the fair country with in the hour, so stay off the roads.

[12:38] {BillyD} AAPL may be a short off .80

[12:39] {dino} sds l .35

[12:46] {Threei} AAPL invaliadted

[12:48] {BillyD} yeah, mkt upticks

[12:52] {nemo} aa about to go 1:1

[12:52] {larisa} lol

[12:52] {Threei} {--- crying

[12:53] {BillyD} got out long time ago and not crying

06[12:53] * nemo {----lied

[13:00] {Threei} JULY NAHB HOUSING MARKET INDEX: 17 V 16E

[13:03] {magoo} ANPI

[13:08] {Threei} I don't see fresh news on it

[13:11] {dino} sds to .47 stingy

[13:11] {dino} to .50

[13:11] {dino} out +.15

[13:12] {dino} anpi fda approval

[13:12] {dino} of taxus

[13:12] {Threei} but that was before opening

[13:13] {dino} alrighty then

[13:13] {BillyD} see what ya get for trying to help dino

[13:14] {larisa} lol

[13:18] {dino} no respect

[13:22] {magoo} AIG vad criushed

[13:23] {larisa} to wake you up : http://www.trekearth.com/gallery/Europe/Denmark/East/Fyn/Odense/photo342027.htm

[13:23] {larisa} funniest and saddest sculpture

[13:24] {Threei} lol

[13:26] {larisa} and you say do not raise taxes for wealthy :) after seeing this I want all their money :)

[13:29] {jfjf64} cof.70 break vad what ya thoughts

[13:30] {jfjf64} nevermind

[13:31] {jfjf64} i wd think .70 .71 is level from this point on

[13:41] {jfjf64} c/h cof

[13:48] {jfjf64} any takers

[13:49] {BillyD} not here

[13:49] {jfjf64} in at 71

[13:49] {ese} ese is not away.......i'm still here watching INTC take off....i'm long at .19

[13:50] {magoo} vad..from yourexperience..how u gauge goog today?

[13:50] {magoo} its non performance

[13:51] {jfjf64} half out .84

[13:51] {BillyD} nice one jf

[13:51] {jfjf64} cof finally

[13:53] {jfjf64} stop to .82

[13:53] {Threei} mags... honestly, when it comes to GOOG, asnything's possible

[13:53] {Threei} I've no idea

[13:54] {jfjf64} stop to .85

[13:55] {jfjf64} out

[13:56] {jfjf64} +13 +14

[14:00] {magoo} EXPLODING UPWARD

[14:01] {Threei} CIT Group Inc Bondholders are reportedly considering a debt swap in efforts to avoid bankruptcy

[14:01] {Threei} - CIT's largest bondholder, Pacific Investment Mgmt, plans to hold a conf call with other bondholders to discuss the option. Some reports say CIT could need as much as $6B in funding to keep it out of bankruptcy.

[14:01] {BillyD} hate to have the pressure of the largest bondholder

[14:04] {jfjf64} vad ya still in aa

[14:04] {nemo} he's in coma

[14:05] {jfjf64} or countin is loot

[14:06] {Threei} no jf

[14:06] {Threei} lost patience long ago

[14:06] {Threei} or to be more precise, was afraid to fall asleep while having it open

[14:12] {BillyD} SMTC nice chart

[14:14] {jfjf64} look jpm 36.00 ouch

[14:29] {jfjf64} jpm

[14:30] {Threei} AA- NOW I am crying

[14:31] {ese} out INTC .34 + .15 35k......have to go otherwise would hold on for longer...been a good days work

[14:31] {nemo} I'll cry with you look at fcx

[14:31] {ese} cya tomorow all

[14:31] {BillyD} not like we couldn't wait on AA and had some place to go

[14:31] {nemo} frickin' musicians

[14:31] {larisa} lol

[14:31] {Threei} take care ese, great job

[14:31] {ese} tks

[14:31] {Threei} no kidding billy

[14:31] {jfjf64} later ese

[14:32] {BillyD} it didn't even hit the scalper stop vad

[14:32] {Threei} yeah, it just tired us out

[14:32] {BillyD} it would have probably done me some other psychological if I held it

[14:33] {BillyD} lol

[14:33] {BillyD} psychological damage

[14:35] {dino} sds l .65

[14:35] {nemo} Qs through their recent highs, SPY within spittin' distance

[14:40] {dino} stopped sds .-.15

[14:41] {dino} gap s/p 946

[14:42] {dino} 8799 dji gap

[14:46] {dino} fwiw downside gaps from tues. close 8359,1452,905

[14:52] {BillyD} strong mkt recovery for the last week

[14:56] {magoo} vad AIG?

[14:57] {Threei} remained quite inept during market move...

[15:00] {vinod} I have to start here, I can't see previous chat for today

[15:02] {Threei} dino, look dcc please

[15:03] {vinod} My idea of short rimm and AIG hasn't good

[15:03] {Threei} well... as we talked in the morning: if there is setup there is trade

[15:03] {Threei} if not - why would you short them

[15:03] {Threei} or long for that matter

[15:03] {Threei} don't trade out of general idea... that would be thinking

[15:04] {Threei} and thinking is not good for your trading

[15:04] {vinod} I usually take a note of what I feel and look at end what happen. good education for me

[15:05] {vinod} I know I need to be lie nemo. no thinking

[15:05] {vinod} look like he left for hte day

[15:06] {Threei} thinking is for analysts... they need to justify, to explain (post-fact as a rule, lol)

[15:06] {Threei} traders react on recognizable scenario developing

[15:08] {dino} sds l .50

[15:08] {BillyD} RIMM holding well

[15:08] {Threei} dino, look dcc please

[15:09] {dino} ok

[15:12] {dptl} have a good evening all

[15:12] {Threei} take care dp

[15:17] {cosmo} SNDK 17.77 hod fwiw

[15:18] {cosmo} needs to hold .60

[15:18] {cosmo} imo

[15:20] {Threei} Reminder: previously announced index changes go into effect after the close of trading today

[15:20] {Threei} - HR will replace WNC in the S&P600 index.

[15:20] {Threei} - CERN to replace JAVA in the NASDAQ-100 Index

[15:26] {BillyD} Vad...do those news posts get psoted to room automatically?

[15:26] {larisa} hope not :)

[15:29] {Threei} no

[15:29] {BillyD} it is at your discretion then

[15:29] {dino} sds stopped

[15:29] {Threei} yes

[15:33] {Threei} was thinking of SNDK as short candidate, based on Cramer hyping it

[15:34] {Threei} I am too hesitant these afrenoons...

[15:36] {BillyD} what would your stop be

[15:36] {BillyD} .66

[15:36] {Threei} I thought of .70 breakdown witgh stop above high

[15:36] {BillyD} .70?

[15:36] {Threei} about 10 min ago

[15:36] {BillyD} whewwwwwwwwww

[15:38] {BillyD} when did Cramer comment

[15:39] {Threei} [10:42] {wulff} Cramer pushing SNDK big

[15:39] {dino} 3:40 release the hounds

[15:42] {BillyD} tomorrow otions day right?

[15:42] {BillyD} options

[15:43] {vinod} up up and up we go. see you monday. i am taking dayoff tomoroow

[15:43] {BillyD} enjoy vin

[15:44] {Threei} take care vinod

[15:44] {dino} cya vvin

[15:45] {dino} v

[15:46] {cosmo} i hear cramer screaming...

[15:46] {Threei} mags... see how AIG remains unaffected by market surge?

[15:50] {dino} as am i

[15:50] {Threei} lol

[15:51] {dino} this action is crazy, end of days on friday, and now euphoria rules, 8-10% weekly moves

[15:51] {magoo} vad..gun t head..goog pop up after reports?

[15:52] {Threei} shrug

[15:52] {Threei} yes

[15:57] {Threei} okay guys, thank you all

[15:58] {Threei} have a good evening

[15:58] {Threei} see you tomorrow

[15:58] {BillyD} cya

[15:58] {larisa} bye :)

[15:58] {jfjf64} later

[16:01] {Threei} GOOG Reports Q2 $5.36 v $5.09e, R$ (ex-tac) v $4.06Be

[16:01] {Threei} R$4.05B (ex-tac) v $4.06Be

[16:03] {Threei} Q2 paid clicks -2% q/q, +15% y/y

[16:03] {Threei} - Q2 international revenue $2.91B,