Aug 05 2009

Nice and steady day, with profitable trades on BAC, LLTC, RIMM, AIG and stops on NVAX and HEV. Some nice momentum plays occur in financials.

Session Time: Wed Aug 05 00:00:01 2009

[08:26] {dptl} good morning all

[08:38] {Threei} Good morning

[08:39] {dptl} :)

[08:40] {dptl} dptl -} sleepless in vancouver

[08:41] {Threei} lol

[08:41] {dptl} :)

[08:43] {magoo} morn

[08:43] {Threei} magoo :)

[08:45] {magoo} whatcha lookin at?

[08:45] {Threei} finnies are green

[08:45] {Threei} BAC... WFC...

[08:46] {magoo} yea..they closed strong

[08:46] {magoo} hows monestasry :)?

[08:47] {Threei} won't tell... you'll all follow me and crowd the premises

[08:47] {Threei} anyone tried GETCO route?

[08:47] {magoo} no..is it supposed to be better?

[08:49] {Threei} it's free

[08:49] {Threei} no ECN fee

[08:50] {dptl} does it hit everything?

[08:50] {Threei} I don't know

[08:50] {Threei} did you see a n opening inforblurb?

[08:51] {Threei} they cite fill rate

[08:51] {dptl} yes

[08:51] {magoo} did GGC report this morn? can u check?

[08:51] {Threei} Yesterday 18:31 GGC Reports Q2 -$2.13 v -$11.25e, R$524M v $550Me

[08:51] {Threei}

[08:53] {JohnK} gm folks

[08:54] {larisa} good morning :)

[08:56] {dptl}

[08:56] {Threei} john, larisa :)

[08:58] {larisa} vad, dp :)

[08:59] {dptl} lots of talks about flash trading this morning on the news

[09:00] {Threei} someone does great job throwing distractions in

[09:02] {fernp} good morning everybody

[09:02] {Threei} fern :)

[09:04] {ese} gooooooooooood morning!

[09:04] {Threei} ese :)

[09:05] {ese} anything new and exciting......ladies and germs

[09:06] {Threei} new day

[09:07] {ese} thas exciting for sure

[09:07] {Threei} FITB tries to trade over yeasterday's high

[09:07] {ese} suppose to get some rain today here on the island

[09:08] {JohnK} where are you ese?

[09:09] {ese} victoria , British Columbia Canada

[09:09] {ese} et vous?

[09:10] {JohnK} je suis at New Jersey, USA :-)

[09:12] {ese} ahhhhh.....Lou Solof.....the trumpet player from the Blood Sweat and Tears band lives there.......he's a very close friend of my university professor mentor

[09:12] {nemo} What gooees up....

[09:13] {ese} must come down.....spinin wheel gotta ta go round.....what a great tune

[09:19] {ese} grmn....+5.73.......hmmmmmm....lots of people lost i quess

[09:19] {jfjf64} mornin all

[09:19] {Threei} jf :)

[09:20] {jfjf64} lets go 3-0 out of box

[09:20] {Threei} Garmin Ltd Reports Q2 $0.83 v $0.51e, R $669M v $657.1Me

[09:20] {Threei} - Q2 gross margin 52.6% v 44.9% q/q

[09:20] {Threei} - Q2 North America revenue $436M v $265M q/q

[09:20] {Threei} - Q2 Europe revenue $198M v $144M q/q

[09:20] {Threei} - Q2 Asia revenue $35M v $28M q/q

[09:28] {nemo} ese...saw BST in a little club in Bavaria in 1984

[09:28] {nemo} or was it David Clayton Thomas...oops...too many beers

[09:28] {Threei} BAC looks to be a candidate for the first play

[09:29] {magoo} watch wfc too

[09:31] {cosmo} ACAS

[09:31] {cosmo} gonna test

[09:31] {cosmo} wants 3

[09:32] {Threei} Long Setup: BAC 16 break if holding 15.90

[09:32] {Threei} (US) Treasury's Barr: Sense of free fall in economic indicators has ended

[09:32] {Threei} - Should not provide a gov approved model for rating agencys

[09:32] {Threei} - Oversight of credit ratings agencies need to be done on evolving basis

[09:33] {Threei} SOLR Hearing upgraded to Hold from Reduce rating at Boutique firm

[09:34] {Threei} Long Setup: BAC 15.90 break if holding 15.85

[09:34] {ese} bstop yhoo .78

[09:35] {ese} in

[09:35] {nemo} in

[09:35] {patel} in

[09:35] {jfjf64} in

[09:36] {Threei} over 1:1 for scalpers

[09:36] {fernp} ty vad

[09:36] {Threei} :)

[09:36] {nemo} out ty

[09:36] {JohnK} good trade BAC thx T

[09:37] {BillyD} ty Vad

[09:37] {Threei} welcome guys

[09:37] {Threei} guess who is on TV

[09:37] {magoo} look whos on tv

[09:37] {nemo} clinton

[09:37] {Threei} you wish

[09:37] {nemo} he just got bak from PRNK

[09:37] {Threei} BAC 1: my math abilities are not enough

[09:38] {jfjf64} tty

[09:38] {wulff} +.30

[09:38] {nemo} 1:5

[09:38] {jfjf64} x l .20

[09:38] {magoo} i missed it too..computer froze

[09:38] {patel} n ice call on BAC

[09:38] {patel} still holding on to 100 shares

[09:38] {nemo} you could miss the week after yesterday mags

[09:39] {nemo} you get the duct tape for Dino's system?

[09:39] {jfjf64} all out x

[09:39] {jfjf64} +8 cents

[09:39] {ese} out yhoo .84 +.06

[09:40] {Threei} watching WFC for pullback entry

[09:40] {Threei} just under 27 would be nice

[09:41] {cosmo} FWLT hod = 27 ....so far

[09:42] {Threei} Long Setup: LLTC .50 break if stays above .40

[09:43] {ese} L HBAN .62

[09:43] {fernp} in

[09:44] {patel} in

[09:44] {nemo} missed

[09:44] {Threei} VNDA??

[09:44] {jfjf64} .65 break break ese im takin ese

[09:44] {Threei} 1:1 LLTC

[09:45] {fernp} ty vad

[09:45] {Threei} welcome

[09:46] {JohnK} LLTC :) too thx again T

[09:47] {patel} 2 for 2 baby

[09:47] {patel} thats what i'm talking about

[09:47] {patel} great calls this morning

[09:47] {jfjf64} nice one more vad

[09:48] {nemo} one?

[09:48] {Threei} [09:20] {jfjf64} lets go 3-0 out of box

[09:48] {BillyD} mkt sell off

[09:48] {jfjf64} ty vad

[09:48] {jfjf64} nemo sleepin

[09:48] {ese} out HBAN .67 +.05

[09:49] {wulff} WFC pullback

[09:49] {nemo} sorry, up all night

[09:50] {Threei} Long Setup: NVAX 5.40 if holding above .30

[09:50] {wulff} so much for lltc

[09:51] {nemo} in

[09:51] {cosmo} FWLT hod = 27.55 ....so far

[09:52] {ese} I want HBAN again ....just am deciding where

[09:52] {jfjf64} ese

[09:52] {Threei} FITB back into yesterday's high

[09:53] {jfjf64} in .68

[09:53] {jfjf64} need push

[09:53] {ese} would prefer a deeper pullback but if not will take .65 break this time

[09:54] {ese} hmmmmmmm might rethink this....financial index now down

[09:56] {ese} anybody in NVAX.....thats on my radar

[09:57] {nemo} yes

[09:57] {Threei} stopped

[09:57] {nemo} just got stopped

[09:57] {Threei} sorry jf... 2 out of 3

[09:57] {wulff} had high hopes for NVAX

[09:57] {BillyD} NVAX true to form

[09:57] {Threei} market dropped pulled it

[09:58] {jfjf64} wfmi .56 break

[09:58] {BillyD} good risk reward

[09:58] {jfjf64} in

[09:59] {jfjf64} 1/1

[09:59] {jfjf64} half out

[10:00] {Threei} JULY ISM NON-MANUFACTURING COMPOSITE: 46.4 V 48.

[10:00] {Threei} JUNE FACTORY ORDERS: 0.4% V -0.8%E

[10:00] {ese} l mee .48

[10:01] {jfjf64} out

[10:02] {ese} out mee .20 grrrrrrrrrr=.28

[10:02] {ese} -.28

[10:02] {jfjf64} stoped hban

[10:03] {nemo} nice drop amzn

[10:03] {jfjf64} rdn .40 breal

[10:03] {BillyD} RDN is starting a CC right now JF ...fyi

[10:04] {nemo} a cc?

[10:04] {BillyD} conference call

[10:04] {nemo} oh

[10:04] {BillyD} after eps

[10:04] {jfjf64} in .43

[10:06] {jfjf64} out 3 cents no lk cc

[10:13] {Threei} Long Setup: RIMM .60 if stays above .45

[10:14] {jfjf64} in .65

[10:14] {magoo} in .58

[10:14] {jfjf64} slippy

[10:14] {JohnK} too fast for me

[10:15] {Threei} 1:1

[10:15] {jfjf64} go go go go

[10:17] {jfjf64} great vol

[10:18] {jfjf64} all out

[10:18] {jfjf64} ty vad

[10:19] {tomg} ty vad

[10:19] {Threei} welcome guys

[10:24] {ese} L hban.50

[10:26] {magoo} u reading GRMN boss?

[10:26] {Threei} 33 break is obvious setup

[10:26] {Threei} volatile...

[10:26] {jfjf64} wfmi break of 30.00

[10:26] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET

[10:26] {Threei} **consensus expectations:

[10:26] {Threei} Crude: +800Ke

[10:26] {Threei} Gasoline: -1Me

[10:26] {Threei} Distillate: +1.2Me

[10:27] {jfjf64} in .03

[10:28] {jfjf64} gets passed .13 gettin paid

[10:28] {magoo} AXL moves

[10:29] {Threei} AXL CFO: Lowering break even levels to 6K axles per day; on track to accomplish goal by end of 2009 - conf call

[10:29] {Threei} - believe 1H 2009 will be the low point in production volumes.

[10:29] {nemo} looks like oil numbers might be bullish

[10:29] {Threei} 8 ball?

[10:30] {nemo} nevermind erx dropped must be bearish

[10:30] {jfjf64} vad

[10:30] {Threei} DOE CRUDE: +1.67M V +800KE

[10:30] {nemo} really dropped

[10:30] {jfjf64} 8 ball

[10:30] {Threei} GASOLINE: -220K V -1ME; DISTILLATE: +1.1M V +1.2ME; CAPACITY UTILIZATION: 84.5% V 84.4%E.

[10:31] {nemo} aig in a good mood today

[10:32] {Threei} yeah

[10:32] {Threei} 14 break in retrospect was no brainer

[10:32] {Threei} didn't watch it at the time

[10:33] {nemo} only got 3i's

[10:33] {jfjf64} need 4i

[10:34] {Threei} AXL some enthusiasm...

[10:36] {jfjf64} this wfmi drivin me crazy hv stop at .85

[10:37] {jfjf64} showin strong

[10:39] {Threei} a lot of talk about 2B investment in car batteries development

[10:40] {Threei} I have ABAT on top of my memory

[10:40] {Threei} anything else?

[10:40] {BillyD} can't remeber

[10:41] {BillyD} can't spell either

[10:41] {Threei} welkome to ze klub

[10:42] {jfjf64} jpm vad ya lk 41 break or traap

[10:42] {Threei} with stop under .90, it's a valid try

[10:43] {jfjf64} too fast pass

[10:44] {Threei} 1:1

[10:44] {Threei} the way to enter this kind, when it's a bit too fast on a break, you don't want to chase and don't want to get filled on the way back when it's exhausted

[10:44] {jfjf64} reads there fingers too slow

[10:44] {Threei} enter limit at the price you are willing to chase to,

[10:45] {Threei} let's say 41.03

[10:45] {ese} are you in jpm jf?

[10:45] {jfjf64} nope

[10:45] {Threei} if it gets you in, fine, play it from normal risk reward ratio point of view,

[10:45] {Threei} if miss, keep an order in for a fill on pause BUT

[10:45] {ese} that was a good call

[10:45] {Threei} cancel it if a stock reaches 1:1

[10:46] {jfjf64} makes sence even with 2500 to 3000 shares

[10:46] {jfjf64} ??

[10:46] {Threei} you may still want it if it pauses and pulls back slightly from let's say 41.05 - 06

[10:46] {Threei} but if it reaches 1:1 and drops all the way back into trigger, it's a different ballgame,

[10:47] {Threei} you now need to re-evaluate whether a play still valid as conservative entry

[10:47] {Threei} or it was just a scalp and it's ovewr

[10:47] {Threei} as a first idea what to look for:

[10:47] {ese} yes

[10:47] {Threei} if it drops back into 41, stalls,

[10:47] {ese} quick in and out

[10:48] {Threei} makes little move up and down between 41 and 41.05

[10:48] {Threei} you may want a new entry on .05 break,

[10:48] {Threei} but the huge difference with original idea will be:

[10:48] {Threei} your stop now is under 41, not under 40.90 as it would be with original entry

[10:48] {Threei} see what I mean by saying it's a new game?

[10:49] {jfjf64} thanks i follow

[10:50] {patel} Threei, thoughts on T

[10:50] {Threei} I'll try hood, fake mostauge and dark sunglasses tomorrow... will see how successful you are then

[10:50] {jfjf64} lol

[10:51] {Threei} T... I don't see anything but short at .70

[10:51] {Threei} if stays under .80

[10:51] {patel} yes i like it short below 70

[10:51] {patel} 10 cents risk

[10:51] {patel} are you seeing that

[10:51] {jfjf64} double bottom lower vad or bounce market

[10:51] {Threei} that's what I said patel :)

[10:51] {Threei} rather breakdown and further down jf...

[10:52] {patel} lol

[10:52] {Threei} ahha

[10:52] {Threei} newswire heard me and answered:

[10:52] {Threei} (US) US Administration: To give out approx $2.4B to US automakers to develop advanced auto/vehicle batteries (related ABAT JCI ALTI HEV F GM F.IT F )

[10:53] {jfjf64} aig

[10:53] {BillyD} ALTI was the one I couldn't remember

[10:53] {Threei} yeah but looks like total POS

[10:53] {jfjf64} pos

[10:53] {BillyD} I remembered that part from past

[10:53] {Threei} US) Treasury Dept: Need to act in a way that clearly shows the market that Govt is set on serious financial reforms

[10:54] {Threei} this statement is wrong in so many ways, I don't even know where to begin

[10:54] {Threei} need to act in a way to show something?

[10:54] {Threei} if you ARE serious about it, why not just proceed and do it?

[10:54] {Threei} or,

[10:54] {jfjf64} looks breakout comin

[10:55] {Threei} you guys see yourself as entity that must teach market about something?

[10:55] {Threei} or resist it?

[10:55] {Threei} or fight it?

[10:56] {Threei} this is so indicative of their very way of thinking... "we need to show the market that we are serious about controlling it"...

[10:56] {Threei} {--- back to monastery

[10:56] {jfjf64} show me da money cd give 2 s t

[10:57] {jfjf64} fas c/h .10 break

[10:58] {ese} L jpm .06

[10:59] {patel} Threei, BK break of 29 with a 10 cents risk???

[10:59] {jfjf64} in .13 on pbk vad

[10:59] {patel} or would it be chasing it here

[10:59] {jfjf64} 1/1 fas

[10:59] {Threei} hard to tell BK

[10:59] {Threei} it's kind of 50/50 but risk is small

[11:00] {jfjf64} out

[11:01] {jfjf64} later guys gotta run

[11:01] {magoo} grtmn dump

[11:01] {Threei} take care jf

[11:02] {jfjf64} to da bank boys lol

[11:02] {Threei} CNP Applies for $200M Federal Stimulus Grant to Accelerate Current Smart Meter Project and Begin Building Self-Healing Grid

[11:02] {Threei} - If granted, CenterPoint Energy Houston Electric will use $150M of the requested $200M grant to accelerate its current smart meter and associated equipment installation that make up its Advanced Metering System (AMS).

[11:02] {Threei} - The $50M balance will be used to accelerate the installation of the first phase of CenterPoint Energy Houston Electric''s Intelligent Grid (IG) that utilizes the AMS and other technologies to build a self-healing grid, and improve operational efficiency and reliability.

[11:03] {Threei} NY Fed: Purchased $7.25B in $300B outright coupons purchase; Dealers submitted $17.91B for consideration (bid to cover 2.47)

[11:03] {Threei} - Heaviest purchase was $4.1B in the 05/31/14 maturity

[11:09] {magoo} AIG

[11:10] {tomg} CAT

[11:10] {ese} out pjm .23 +.17

[11:10] {ese} takes a bit of a dent out of that mee trade

[11:11] {Threei} AIG is serious

[11:11] {ese} i know he's gone but thanks jf

[11:12] {ese} wow is it ever

[11:12] {nemo} volumes are all around 1.5X average on indexes

[11:15] {BillyD} Vad, WFC got any life over 27?

[11:15] {Threei} most likewly yes

[11:15] {BillyD} is it worth it to you

[11:15] {nemo} R1 @ 27.30

[11:17] {magoo} anyone cattch AIG?

[11:17] {Threei} Goldman Sachs note today states Goldman on Friday raised its US GDP forecast

[11:17] {magoo} so fast, i alerted but had to focus'

[11:18] {Threei} I think so Billy

[11:18] {Threei} want to see market help of course

[11:19] {BillyD} can you believe it...step away for water and miss it lol

[11:19] {Threei} lol

[11:19] {Threei} water... humanity's eternal enemy

[11:20] {Threei} wait... that was beer

[11:20] {Threei} or vodka

[11:20] {BillyD} it breaks w/out mkt help

[11:20] {BillyD} oh well

[11:21] {magoo} jpm working nicely

[11:40] {Threei} watching CNP, trying to get a feel whether it's preparing for a run

[11:41] {magoo} BAC highs

[11:41] {magoo} neatr

[11:41] {magoo} near

[11:51] {magoo} vad u read AIG?

[11:54] {Threei} there is no technicals to it

[11:54] {Threei} momo runner

[11:54] {Threei} either you get a feel for momop continuation or not,

[11:54] {ese} mags are you long jpm?

[11:54] {Threei} and risk is well beyond average tolerance

[11:56] {Threei} guess who is on TV

[11:57] {BillyD} T may be resets for short

[12:01] {magoo} i was off vads call @ .10, out now jpm

[12:01] {magoo} id cut it

[12:01] {magoo} will pullbk

[12:05] {ese} nice one mags where did you get out?

[12:07] {Threei} HEV big pullback

[12:12] {BillyD} AXL

[12:12] {BillyD} what ya think Vad on .50

[12:12] {Threei} AIG... feels like going to 18

[12:12] {ese} L drys .66

[12:14] {Threei} 18 on the nose

[12:14] {magoo} stealking my thunder

[12:15] {Threei} I am good at stealking

[12:15] {nemo} up 33% on no news

[12:15] {Threei} no idea Billy... 3 was more or less legit

[12:15] {BillyD} ty

[12:15] {Threei} 3.50 is way too high for my yaste

[12:15] {Threei} taste

[12:17] {nemo} 20 for aig?

[12:18] {magoo} i hit it 18 to 19.02 AIG

[12:18] {magoo} 2k

[12:19] {magoo} A

[12:19] {magoo} I

[12:19] {magoo} G

[12:20] {ese} nice mags.......trader after my own heart

[12:22] {magoo} i been crushing them lastt 2 days..just feelin the ,momo

[12:22] {magoo} i alert or ask vad, but no way to call it

[12:22] {Threei} yup

[12:22] {Threei} great job nonetheless

[12:22] {magoo} i could kill someone if they dontknow how to "feel" it

[12:22] {BillyD} lol

[12:23] {magoo} im a momo trader

[12:23] {magoo} and ill take sizer

[12:23] {magoo} size

[12:23] {ese} no i like "sizer"

[12:23] {ese} thats lingo man lingo

[12:24] {magoo} what i need to take is typiong lessons

[12:24] {Threei} u may vant to asq me abut me typein teechear

[12:24] {ese} and you have been killin it these last couple of days....good on ya

[12:25] {magoo} i hit thatt GGC for like 8 points yestrday

[12:25] {magoo} short of coutrse

[12:25] {ese} i know....that was amazing

[12:25] {ese} even more amazing........

[12:26] {magoo} but see..i could have went against me 20 points so npo way i could call it for room

[12:26] {magoo} its a widow maker

[12:26] {ese} like russian submarines

[12:26] {ese} they used to call them widow makers

[12:28] {magoo} but..if IF i ask vad or put up a symbol..it means i am looking at it..and usually going

[12:29] {Threei} and if I say "risky as hell", magoo doubles his share size

[12:29] {magoo} vad, nice call WFC off 27

[12:29] {magoo} just cut it .48

[12:29] {Threei} :)

[12:29] {magoo} well..risk IS our businezz correct

[12:30] {larisa} no:)

[12:30] {ese} i'm still long hban at .50 by the way

[12:30] {larisa} maintaining it is :)

[12:30] {magoo} more risk ..more reward

[12:30] {magoo} with a dash of setup..a smidge of control..and a whole lotta luck

[12:31] {Threei} and prayer

[12:31] {Threei} and chicken entrails

[12:31] {Threei} and the bone from bat's ear

[12:31] {magoo} thats why agree with ese yesterday..i am stressed all time :)

[12:32] {magoo} i functioned in a constant streess environmt

[12:32] {nemo} aig setting up short?

[12:32] {magoo} not avail laser

[12:32] {ese} odd......i'm not feeling stressed as much today as yesterday and i'm down about $800

[12:32] {magoo} u taking vads advice and drinking?

[12:33] {larisa} AIG earnings on Friday, intersting how high it can go

[12:33] {ese} heavily

[12:33] {dptl} yep vodka might help magoo

[12:33] {ese} and dp's advice as well.....smoothe vodka

[12:33] {dptl} he he :)

[12:34] {ese} vads advice was vodka...dp's...make it smooth vodka

[12:34] {Threei} 71% Say Obamas Policies Have Driven Up Deficit

[12:34] {Threei} 54% Favor Middle Class Tax Cuts Over New Health Care Spending

[12:35] {Threei} those are damning numbers

[12:36] {JohnK} look right to me :)

[12:38] {ese} ya and it just damned my profit in habqan

[12:38] {ese} hban

[12:39] {ese} sheesh

[12:41] {ese} how bout uaua

[12:50] {Threei} HEV Hearing Kaufman Bros. making positive comments; Maintains Buy rating, price target $9 (timing uncertain) (7.08, +0.56, 8.59%)

[12:57] {ese} OK technical point.....this is the seventh day of a narrow range 7 for drys......theoretically this thing should just up from here based on that last earnings report.......

[12:57] {ese} jump

[13:00] {Threei} IPXL Receives Final FDA Approval for Generic Depakote Extended-Release 500mg Tablets

[13:00] {Threei} - FDA has granted final approval of the Companys Abbreviated New Drug Application for generic versio... (27.48, +0.98, 3.70%) more...

[13:01] {Threei} AIG Trading up 40% on no apparent news

[13:01] {Threei} - note that AIG is scheduled to report earnings on Friday morning and has already said it will not h... (18.85, +5.33, 39.42%) more...

[13:04] {Threei} believe it or not...

[13:05] {Threei} AIG looks like new consolidation

[13:05] {Threei} for another runup

[13:08] {Threei} UQM Awarded $45.1 Million Grant from the U.S. Department of Energy to Accelerate the Deployment of the Next Generation of Electric Vehicles

[13:11] {Threei} easiest money I've made today

[13:11] {nemo} on what?

[13:11] {Threei} 5.06 - 5.45

[13:12] {nemo} oh

[13:12] {nemo} what stock

[13:12] {larisa} lol

[13:12] {Threei} sigh

[13:12] {larisa} I thought you talking AIG

[13:12] {nemo} me too

[13:12] {Threei} nemo... look at this line by me about money made... then slowly gently lift your line of sight by just 2 lines

[13:13] {nemo} ok

[13:14] {dptl} lol

[13:15] {Threei} AIG, look at the dance it did for 10-15 min just above 17, at roughtly 12:00 - 12:15

[13:15] {Threei} did pretty much the same around 19 when I made that comment

[13:15] {Threei} and exploded from there again

[13:18] {Threei} 20 in sight

[13:19] {Threei} AIG Investor Relations: Not aware of any news to account for today's stock move (32.81, -0.59, -1.77%)

[13:19] {Threei} Notes that outside of the CEO succession and confirming earnings date, has no additional information

[13:23] {magoo} out .91 TY vad on AIG alert

[13:23] {magoo} nice one

[13:24] {BillyD} gj

[13:24] {Threei} :)

06[13:25] * magoo slaps Threei around a bit with a large trout

[13:25] {Threei} :(

[13:25] {magoo} the monastery is working for u

[13:25] {ese} nice one mags

[13:25] {magoo} u kickin butt today vad

[13:27] {Threei} (US) FHFA's Lockhart to reportedly step down soon - unconfirmed report (related FNM FRE )

[13:29] {nemo} aig, this is just incredible

[13:30] {Threei} giant squeeze

[13:31] {nemo} what was the short ratio?

[13:32] {magoo} bak in ittttttttttttt

[13:32] {Threei} not overly high...

[13:32] {Threei} Short Percent of Float 18.81 %

[13:32] {Threei} July info

[13:32] {nemo} no, so how the squeeze

[13:33] {Threei} just mass husteria then

[13:33] {Threei} hysteria

[13:34] {BillyD} overall a good thing for mkt trader confidence

[13:34] {Threei} mags... don't overstay your welcome

[13:34] {BillyD} some momo to return hopefully

[13:34] {Threei} when it's done it won't give much chance for orderly exit

[13:34] {Threei} not to women, not to children, not to elderly

[13:35] {magoo} oh sorry out .42 from .40 +point

[13:36] {Threei} good

[13:36] {Threei} not even speaking of halt possibility

[13:36] {magoo} OH DO NOTEVEN SAY ITTT

[13:42] {ese} vad is that AIG's float your talking about thas short?

[13:42] {magoo} man..can u imagine old school wall street who sold in may and went away vad

[13:43] {Threei} yes ese

[13:43] {Threei} lol mags

[13:43] {ese} that would explain a few things

[13:43] {Threei} just proves that most of those "tested and proven" sayings is bs

[13:43] {nemo} guess the welcome isn't over

[13:43] {Threei} what everyone knows isn't worth knowing

[13:44] {nemo} yeah, but this ain't your old school market

[13:49] {Threei} VZ) Venezuela's Chavez: may nationalize any companies that break laws; do not have a set list of sectors that will be nationalized

[13:49] {Threei} - says lawful private companies can continue on

[13:49] {Threei} - Reminder: yesterday Chavex commented that would expropriate certain coffee companies

[13:50] {Threei} cool

[13:50] {Threei} company breaks law - nationalize it

[13:50] {ese} Out drys .75 +.09

[13:50] {larisa} or execute like they do in China :)

[13:51] {Threei} or both

[13:51] {larisa} World is too funny lately

[13:51] {magoo} 22.96 was the reverse split high AIG before it was crushed

[13:51] {nemo} or pass a law and retroactively charge them

[13:55] {ese} Out HBAN .56 +.06 it a good day

[13:55] {ese} it's

[13:56] {nemo} gotta' go...c u 2 morow insha Alah

[13:57] {larisa} bye nemo :)

[13:57] {ese} i'm with ya nemo.......see you all tomorow......getting ready to go to Copenhagen Denmark

[13:57] {Threei} Long Setup: HEV .85 - .90

[13:57] {Threei} if holding above .80

[13:58] {Threei} .75 is a bit better stop technically but I am trying to keep it in scalping framework risk qwise

[13:59] {Threei} take care ese

[14:04] {Threei} if it goes, planning to sell half above 7 and see about secind half - maybe offer it into eod run closer to 7.20, maybe even hold some overnight

[14:07] {Threei} VP and cabinet fan out to hold townhall meetings and speeches about recovery plan success

[14:07] {Threei} do these guys ever stop campaigning?

[14:07] {Threei} someone should have told them election is over

[14:11] {Threei} (US) SEC's Schapiro confirms evaluation of 'flash trading' and the surrounding inequity associated with the trading - CNBC interview

[14:11] {Threei} - Notes that the SEC is moving 'quite decidely' toward banning flash trading, but still must move through regulatory process, so can not be done instantaneously.

[14:22] {JohnK} nice scalp HEV, thx T :)

[14:23] {patel} u still plan on keeping it to 7

[14:23] {patel} threei

[14:26] {Threei} ?

[14:26] {Threei} did anything change?

[14:27] {Threei} no go

[14:27] {JohnK} got in at .85, out at .89

[14:27] {patel} that is a very strange stock man

[14:27] {patel} just dropped pretty hard

[14:28] {JohnK} thin market

[14:28] {JohnK} small shares

[14:28] {Threei} FDIC's Bair: Should implement pay standards on insured banks to encourage long term performance- interview comments

[14:28] {Threei} - Comments that banking system confidence is improving

[14:28] {Threei} - reform on pay should be through principles, wary of setting dollar limits

[14:29] {Threei} HEV CEO: It is not an issue to raise capital; currently in negotiations for $480M worth of low cost loans

[14:29] {Threei} - Seeing increasing battery annual revenue to $2.25M in 2015 if can attain 5-12% of battery market (6.85, +0.33, 5.06%)

[14:30] {dptl} Vad did you try that getco today?

[14:30] {Threei} no, I still haven't updated version

[14:31] {dptl} ye me too....but want to check with Dave first he usualy knows everything

[14:33] {Threei} not really... I asked me recently about production of ivory buttons in South Argentina in 19th century, he had no idea

[14:33] {dptl} but he is prob. drinking today :)

[14:33] {Threei} asked him

[14:33] {dptl} lol

[14:33] {magoo} we in anything vad?

[14:34] {Threei} nope

[14:34] {patel} stalking anything???

[14:34] {magoo} sell from hell AIG..not in..but it double topped

[15:05] {jfjf64} s aig 21.05

[15:05] {magoo} ICOG vad

[15:06] {Threei} I don't have news

[15:06] {Threei} anyone?

[15:06] {magoo} prob break thgose trades

[15:07] {fernp} no news here

[15:07] {Threei} shrug

[15:08] {jfjf64} grr

[15:08] {Threei} May 16 last news on it, filing for bakruptsy

[15:10] {magoo} we in anything?

[15:10] {magoo} fell asleeop

06[15:10] * Threei slaps magoo around a bit with a large alarm clock

[15:13] {Threei} heh... HEV shakeout

[15:13] {Threei} some stocks just have dishusting manners, I noticed...

[15:13] {Threei} who brought them up like this

[15:15] {patel} that shakeout was wrong

[15:15] {patel} i took a pretty big hit on that one

[15:17] {Threei} original stop was 5-7 cents, with slippage could have easily been about 12 on that

[15:18] {patel} i got hit for about 13 cents

[15:18] {Threei} if this is big hit for you, you should really re-think share size and/or trading thin stocks altogether

[15:18] {Threei} I mean come on... 13 cents equals big hit??

[15:18] {Threei} what kind of profits are you aiming for?

[15:19] {magoo} how many shares u take?

[15:19] {patel} i didnt get hit bad but it turned my profit for the day near 0

[15:19] {patel} i only took 400 shares

[15:19] {magoo} vad, u or i??

[15:19] {Threei} I don't understand it

06[15:20] * magoo slaps Threei around a bit with a large trout

[15:20] {Threei} something isn't right with trade/risk management

06[15:20] * magoo slaps patel around a bit with a large trout

06[15:20] * magoo slaps patel around a bit with a large trout

06[15:20] * magoo slaps patel around a bit with a large trout

[15:20] {patel} we talked earlier about it and it seems i am paying 2 much in commissions.

[15:23] {dptl} ok....have a good evening all,see ya tomorrow

[15:23] {Threei} doesn't sound like that's the only issue... something else is off

[15:23] {Threei} tajke care dp

[15:24] {_prth} 400 shares does not give you enough profit to scale

[15:25] {Threei} not really, unless it's a big mover

[15:26] {Threei} it's either training size, or a size for a very volatile stock

[15:26] {Threei} where risk control doesn't allow for tight stosp

[15:27] {_prth} and setting hard stops will get him taken out at a really bad fill depending on broker

[15:27] {patel} i stopped using hard stops

[15:27] {Threei} yikes

[15:27] {Threei} no way

[15:28] {magoo} but .13 cents on 400 is 52 bux correct?

[15:28] {patel} i was using hard stops but few days ago AKAM took me out

[15:28] {patel} and went up

[15:28] {patel} yes

[15:28] {patel} okay i traded BAC made over 90 dollars ont hat trade

[15:28] {_prth} so where did nvax fill at on the stop this morning and add commissions to that

[15:29] {patel} then i took LLTC made about 18 dollars on that

[15:29] {patel} then i got stopped on NVAX

[15:29] {Threei} hard stop is for the case whn you have to leave your computer unattanded

[15:29] {Threei} better than no stop at all

[15:29] {patel} and hten i got stopped otu for HEV

[15:29] {Threei} but when you can contorl events, use manual one

[15:30] {patel} slippages on NVAX was 5 cents

[15:30] {patel} slippage on HEV was about 4 cents

[15:30] {Threei} 18 dollars on LLTC?

[15:30] {patel} yes

[15:30] {patel} i took 200 off hte table on 1:1

[15:31] {patel} then put the rest at breakeven

[15:31] {patel} i am not complaining its just I need to know what I am doing wrong and make my trade management better

[15:34] {_prth} the percentage of dollars is high on commissions when trading smaller size if paying a flat rate, if you use per share cost platform then it be more cost effective with smaller size

[15:35] {patel} prth, i am paying .01 cents a share

[15:36] {Threei} that's twice the rate we are paying

[15:37] {Threei} great... now HEV is doing what I envisioned

[15:38] {_prth} that is $10 for a thousand shares, do you pay ecn fees too?

[15:38] {Threei} ECN is pass-through both ways for us

[15:38] {Threei} fee or rebate, dependinh on removing or adding liquidity

[15:39] {_prth} is patel with the same broker?

[15:39] {Threei} no

[15:40] {Threei} he pays .01/shre... we .005

[15:40] {magoo} which is more lol

06[15:40] * Threei slaps magoo around a bit with a large large abakcus since calculator is too complicated for magoo

[15:40] {_prth} well that is a big difference especially for scalping size

[15:41] {jfjf64} l met .05 break

[15:42] {patel} yup

[15:42] {patel} no ecn fees

[15:42] {patel} i get rebates and everything

[15:42] {patel} pretty much the same as you guys but the commisisons is doubled

[15:42] {Threei} hmmm... no fees but rebates?

[15:42] {patel} yes

[15:43] {Threei} something isn't right :)

[15:43] {patel} as long as I am sending the order through PFSI i pay no fees

[15:43] {patel} but i have to use INTEL and ARCAL for rebates

[15:43] {patel} what kind of fees do you have to pay threei

[15:43] {Threei} on add liquidity side only

[15:44] {Threei} you can do it using GETCO route for entry and ECN for exit with Laser

[15:44] {jfjf64} in

[15:44] {patel} pj plau

[15:45] {patel} oh okay

[15:47] {jfjf64} grrr

[15:51] {jfjf64} 21.83 l aig

[15:52] {jfjf64} in 88

[15:53] {jfjf64} .25cent stop

[15:56] {jfjf64} 1/1 half out

[15:56] {jfjf64} stop 22.00

[15:57] {Threei} you are azware of time remaining, right?

[15:57] {jfjf64} all out

[15:57] {Threei} good

[15:57] {Threei} thank you all, much better day today

[15:57] {Threei} have a great evening, see you tomorrow

[15:57] {magoo} ty vad..everybody

[15:58] {jfjf64} enjoy vad ty

[15:58] {larisa} bye :)

[16:00] {patience} look vad, the Trout Group is closing the Nasdaq .... what a good name :)

[16:00] {Threei} ROFL

[16:00] {patience} i wonder what they do for a business?

[16:00] {patience} where's magoo....

[16:02] {magoo} here