Aug 07 2009

Very nice finish to the week. Just one 10 cents stop, and wins were mostly on pullback long entries on HIG, AIG, WFC, HGSI, LVS with one short on WFC. Nothing to complain about, with some members reporting their best week of the year.

Session Time: Fri Aug 07 00:00:00 2009

[08:07] {nemo} now we know what the deal on aig was

[08:09] {JohnK} gm folks

[08:21] {Threei} Good morning

[08:21] {Threei} BLTXX Baltic Dry Bulk Index -4.6% (7th straight decline

[08:26] {nemo} anything playable off the jobs report?

[08:30] {nemo} must be good

[08:30] {Threei} *JULY CHANGE IN NONFARM PAYROLLS: -247K V -325KE; CHANGE IN MANUFACTURING PAYROLLS: -52K V -100KE

[08:30] {Threei} - Prior nonfarm payrolls revised from -467K to -443K

[08:30] {Threei} JULY UNEMPLOYMENT RATE: 9.4% V 9.6%E

[08:30] {Threei} *JULY AVERAGE HOURLY EARNINGS M/M: 0.2% V 0.1%E; AVERAGE WEEKLY HOURS: 33.1 V 33.0E

[08:30] {Threei} - Average Hourly Earnings Y/Y: 2.5% v 2.5%e

[08:32] {nemo} interesting, slightly more hours worked than expected for the same money as expected, that's not positive

[08:33] {BillyD} GM all

[08:34] {Threei} Billy...

[08:34] {Threei} where have you been yesterday

[08:34] {Threei} missed beautiful day

[08:34] {BillyD} some things to take care of

[08:34] {nemo} geez dad....

[08:34] {BillyD} saw the log

[08:34] {BillyD} maybe a repeat eh????

[08:37] {Threei} why not... let's by HIG again :)

[08:39] {BillyD} was there good jobs data?

[08:39] {BillyD} reason forspike up

[08:40] {Threei} yep

[08:41] {Threei} [08:30] {Alert} Threei *JULY CHANGE IN NONFARM PAYROLLS: -247K V -325KE; CHANGE IN MANUFACTURING PAYROLLS: -52K V -100KE

[08:41] {Threei} [08:30] {Alert} Threei - Prior nonfarm payrolls revised from -467K to -443K

[08:41] {Threei} [08:30] {Alert} Threei JULY UNEMPLOYMENT RATE: 9.4% V 9.6%E

[08:59] {ese} gooooood morning

[08:59] {Threei} ese :)

[08:59] {larisa} gm :)

[08:59] {ese} hey larisa

[09:00] {Threei} larisa :)

[09:00] {larisa} ese, vad :)

[09:01] {ese} at some point that dry bulk index will go up

[09:03] {Threei} that was my first thought this morning ese

[09:03] {Threei} it drops for 7 days straight,

[09:03] {fernp} good morning everybody

[09:03] {Threei} fern :)

[09:03] {Threei} DRYS however is more or less holding

[09:03] {Threei} the day index revrses DRYS should explode

[09:04] {ese} i'm still long my drys from yesterday at .40 would be nice if it did it today

[09:05] {Threei} well, today index is still down :)

[09:06] {ese} hmmmmmm

[09:07] {Threei} [08:21] {Alert} Threei BLTXX Baltic Dry Bulk Index -4.6% (7th straight decline)

[09:16] {ese} improvement in unemplyment rate and non farm payrolls.....looks like the reason for up start to the day

[09:16] {Threei} it's going to be interesting

[09:16] {Threei} here is what I mean:

[09:16] {Threei} we rallied for months with no positive news,

[09:16] {Threei} wirth extremely negatiove background noise,

[09:17] {Threei} and last week or two we started hearing all kinds of "recession is about over",

[09:17] {ese} yup

[09:17] {Threei} and now we are getting first signs of positive economic data.

[09:17] {Threei} Red day would signal strong reversal coming

[09:17] {ese} your thinking reversal

[09:17] {JohnK} T, do you think they'll eventually sell the news?

[09:18] {Threei} rather like:

[09:18] {JohnK} soon?

[09:18] {Threei} I am waiting to see if it's a red day in order to get a confirmation of reversal

[09:18] {Threei} that's how it usually works John

[09:18] {JohnK} I think so too

[09:18] {Threei} put the bottom in and reverse to the upside when it's the darkest,

[09:19] {Threei} rally on no good news,

[09:19] {Threei} spike right before or on positive news,

[09:19] {Threei} put the top in and reverse to the downside as news become rosey

[09:20] {Threei} Normal market cycle...

[09:20] {Threei} happens for eons, yet every time catches public by surprise

[09:20] {Threei} and causes all kinds of screams about manipulation

[09:21] {Threei} even though this scenario is of public's making in the same degree as smart money's

[09:21] {Threei} For it to happen, both sides must fufill their roles:

[09:22] {cosmo} ya know.... its just human nature

[09:22] {Threei} smart money to start accumulating when news is the worst possible and market is destroyed

[09:22] {Threei} and for public to wait with their buying until the news is at its happiest and market has rallied quite a bit

[09:22] {Threei} Smart money did its part,

[09:22] {Threei} now public's turn {G}

[09:23] {BillyD} so true

[09:23] {cosmo} so ... time to buy?

[09:23] {Threei} if you keep tabs on our plays from long/short ratio point of view,

[09:23] {BillyD} lol

[09:24] {JohnK} Yet, when we see this next top, it'll be a profit taking top, rather than a OMG sky's falling top... the pullback should be relatively shallow, right?

[09:24] {Threei} you will see how we used to short a whole lot last fall/winter/beginning of this year,

[09:24] {Threei} and how we play almost exlusively long side for the last few months

[09:24] {Threei} yes coosmo, and put it in your long term account saying "it will be back" :)

[09:25] {Threei} don't know if it's going to be shallow pullback/resumption or deeper drop, recovery and range bound trading for a while, John

[09:25] {Threei} both scenarios are plausible

[09:28] {magoo} ugegejkalkdfsa

[09:28] {Threei} I'll take it as a good morning

[09:28] {Threei} call me optimistic and trusting

[09:28] {ese} uffdidoiuwwwmdidak mags

[09:29] {jfjf64} mornin all

[09:29] {ese} jf

[09:29] {Threei} jf :)

[09:29] {Threei} btw

[09:30] {Threei} AIG

[09:30] {Threei} Friday, August 07, 2009 7:06:26 AM

[09:30] {Threei} American International Group, Inc Reports Q2 $2.30 v $1.67e (unclear if comparable), R $29.52B v $19.9B y/y - filing

[09:30] {Threei} - Q2 EPS on Adjusted basis $2.57.

[09:30] {Threei} - Q2 Combined ratio 98.2 v 92.2 y/y

[09:30] {Threei} - Q2 General Insurance operating income (before net realized capital gains) was $971M v $446M q/q

[09:30] {Threei} - Q2 life insurance and retirement services op income (before net realized losses) $1.82B v $1.2B q/q

[09:30] {Threei} - Q2 financial services operating loss (ex net realized losses) -$105M v -$1.1B q/q

[09:30] {cosmo} NVDA should hold 13.80

[09:32] {jfjf64} lvs

[09:32] {jfjf64} .86 trigger

[09:32] {Threei} LVS, 11.90 long establishd resistance

[09:33] {Threei} if takes it and doesn't trip of 12, has a a chance for a big move

[09:33] {jfjf64} ty ty

[09:35] {jfjf64} rimm??

[09:35] {Threei} just follows market, no clear play

[09:35] {jfjf64} hig 19 break

[09:36] {Threei} AIG

[09:36] {Threei} 3 dollars pullback

[09:36] {Threei} and counting

[09:36] {jfjf64} hig no go

[09:36] {magoo} was watching

[09:37] {Threei} bounce off 24 is likely

[09:37] {Threei} no "oficial" call, risk is enormous

[09:37] {jfjf64} k

[09:38] {jfjf64} nasty pullbacks

[09:38] {Threei} if you went for it, get out herte

[09:38] {jfjf64} tk look at met

[09:38] {Threei} quick dollar is nothing to sneeze at

[09:38] {Threei} OK, HIG

[09:39] {Threei} 18.50 is nice support to start looking for a bounce

[09:39] {Threei} normal routine is on for bottom fishers

[09:39] {Threei} .30 break if holding .20

[09:39] {Threei} etc

[09:39] {Threei} .20 if holding .10 now

[09:39] {Threei} you know the drill

[09:40] {Threei} just no chasing if missed

[09:40] {Threei} a bit too fast

[09:40] {wulff} that was quick!

[09:40] {Threei} I don't suppose anyone caught it

[09:41] {BillyD} not here

[09:41] {Threei} [09:37] {Threei} bounce off 24 is likely

[09:41] {Threei} look at AIG's low

[09:41] {jfjf64} nope

[09:41] {magoo} out AIG here .15 +.75 TY vad

06[09:41] * Threei slaps magoo around a bit with a large roll of cash

[09:41] {fernp} BAC?

[09:42] {Threei} yes fern

[09:42] {jfjf64} nice mags

[09:42] {Threei} same routine

[09:42] {Threei} .50 nearest support

[09:42] {fernp} ok

[09:43] {jfjf64} .68 hig here

[09:43] {jfjf64} double top lets go

[09:43] {Threei} WFC on radar too

[09:43] {Threei} .20 break if holding .10

[09:44] {Threei} and guys... if bottom fishing is not your cup of tea, skip these plays

[09:44] {Threei} this morning is not for open breaks so far, it's for pulback-catchers

[09:44] {jfjf64} hate tea

[09:45] {jfjf64} in .70 hig

[09:45] {magoo} in wfc'

06[09:45] * Threei slaps jfjf64 around a bit with a large cup of mango-infused oblong tea imported from SA Asis

[09:46] {Threei} BCRX Hearing strength being attributed to takeover chatter

[09:46] {Threei} - Reportedly GSK rumored as interested name (9.33, +0.54, 6.14%) (related GSK )

[09:47] {jfjf64} met .90break

[09:48] {jfjf64} go hig

[09:48] {Threei} White House Romer: Considering extending unemployment benefits following August recess in Congress; Jobs number is the 'least bad' seen in months - tv interview

[09:48] {Threei} - Comments that the jobless rate has seen stability in prior two months; seeing signs of stability

[09:49] {jfjf64} 1/1

[09:49] {jfjf64} half out

[09:49] {Threei} WFC 1:1

[09:49] {fernp} ty

[09:50] {Threei} something we haven't played in ages and probably deserving a look again:

[09:50] {Threei} Long Setup: HGSI .30 break if stays above .20, half lot

[09:51] {Threei} WFC 1:2

[09:51] {Threei} mags, get out, will ya

[09:52] {jfjf64} hig yeahhhh

[09:52] {Threei} good one jf

[09:52] {magoo} out WFC .37 TY + .17 DL

[09:52] {wulff} out WFC

[09:52] {magoo} in hgsi

[09:53] {Threei} you guys know what you are you are doing... I can see my retirement nearing

[09:53] {magoo} oh no....

[09:53] {Threei} I just like this monastery so much

[09:54] {nemo} How many plays did I miss?

[09:54] {magoo} yea...u turned over a new leaf there

06[09:54] * magoo slaps nemo around a bit with a large trout

06[09:54] * magoo slaps nemo around a bit with a large trout

[09:54] {jfjf64} +10 1half +15 2 half

06[09:54] * magoo slaps nemo around a bit with a large trout

[09:54] {magoo} 3

[09:54] {larisa} yes, AIG was for nemo for sure :)

[09:55] {magoo} u gotta be loco choco to take that AIG call

[09:56] {Threei} [09:41] {magoo} out AIG here .15 +.75 TY vad

06[09:57] * Threei applies to admin for nick change for magoo, he will be known as "magoolocochoco" from now on

[09:57] {Threei} HGSI 1:1

[09:57] {nemo} I wasn't here but why was it for me, Lari?

[09:57] {larisa} not for me or for you or for any normal person :)

[09:57] {JohnK} great trade HGSI thx T :)

[09:58] {Threei} welcome

[09:59] {magoo} out hgsi TY

[10:00] {wulff} NAS can't break +21 yet

[10:00] {magoo} larisa still sour girl over our split :)

[10:01] {larisa} lol

[10:01] {BillyD} Vad, HIG if takes 19

[10:01] {Threei} not sure

[10:01] {magoo} prob is mkt looks to be pulling back billy

[10:02] {Threei} watching but can't make up my mind yet

[10:02] {BillyD} thx

[10:02] {jfjf64} lks lk trap at this point

[10:03] {nemo} market weakness

[10:03] {wulff} hig break?

[10:03] {Threei} [10:01] {BillyD} Vad, HIG if takes 19

[10:03] {Threei} [10:01] {Threei} not sure

[10:03] {Threei} [10:01] {magoo} prob is mkt looks to be pulling back billy

[10:03] {Threei} [10:02] {Threei} watching but can't make up my mind yet

[10:03] {jfjf64} steady vol

[10:04] {Threei} I guess...

[10:04] {Threei} Long Setup: HID 19 break

[10:04] {Threei} if stays above 18.90

[10:04] {Threei} HIG that was

[10:05] {jfjf64} mkin higher lows

[10:05] {jfjf64} .04 in

[10:05] {magoo} in

[10:06] {jfjf64} large vol spike ??

[10:06] {Threei} no go

[10:06] {magoo} it duped us

[10:06] {nemo} duped you

[10:07] {jfjf64} grrrrrrrrrrrrrrrrr

[10:07] {Threei} hectic up and down within narrow range, not worth it

[10:07] {Threei} leave it alone

06[10:07] * nemo slaps magoo around a bit with a large minah bird

[10:07] {Threei} Long Setup: LVS .50 break

[10:07] {Threei} if holding above .40

[10:09] {magoo} in

[10:10] {nemo} me too

[10:10] {jfjf64} ditto

[10:11] {jfjf64} comon vadd do a little lvs dancs lvs lvs lvs

[10:11] {Threei} lol

[10:11] {jfjf64} double top double top double top

[10:12] {jfjf64} i think i gone nuts

[10:12] {Threei} almost 1:1

[10:12] {jfjf64} hig

[10:12] {Threei} I don't expect it to be more than a scalp

[10:12] {Threei} 1:1

[10:12] {Threei} I am out

[10:12] {magoo} out .60 DL ty boss

[10:13] {jfjf64} out

[10:13] {jfjf64} ty

[10:13] {magoo} let me beat u too it vad.......

[10:13] {Threei} [09:44] {Threei} this morning is not for open breaks so far, it's for pulback-catchers

[10:13] {nemo} I'll take the scalp (w a rusty knife)

[10:13] {Threei} look:

[10:13] {magoo} no, u cant go home yet

[10:13] {Threei} all pullback entries worked,

[10:13] {Threei} single time I tried breakout, hesitantly,

[10:13] {Threei} was the only stopped play

[10:14] {Threei} gotta go with my instincts and stop trying to outsmart myself

[10:14] {nemo} there's a joke in there somewhere

[10:14] {jfjf64} qid .60break

[10:14] {Threei} and not one nemo

[10:14] {Threei} I already thought of three

[10:15] {Threei} thgis I must show you guys,

[10:15] {Threei} I know you would believe my word too, without visual proof,

[10:15] {nemo} Vad would never tell a lie

[10:15] {Threei} but this precision and craftmanship deserve a little bragging

[10:16] {Threei} too bad only 300 shares were available, but:

[10:16] {Threei} http://realitytrader.com/vad/AIG%20entry.jpg

[10:16] {jfjf64} invalid breaks no wk

[10:16] {nemo} yeah, but you missed the 3$ short

[10:17] {Threei} can I kick this guy out of the room for the next three months?

[10:17] {Threei} let's vote

[10:17] {jfjf64} ??

[10:17] {Threei} [10:16] {nemo} yeah, but you missed the 3$ short

[10:18] {Threei} :)

[10:18] {nemo} I can hear you hand slapping yourself on the back from here

[10:18] {Threei} what, no single word of praising for the most precise entry possible on AIG today?

06[10:19] * Threei removes himself to a monastery for the next 7 years

[10:19] {magoo} i vote he stays (u owe me now capn nemo)

[10:19] {larisa} where did you exit ?

[10:19] {nemo} Sorry, I'm still getting organized from my internet fiasco

[10:19] {Threei} 24.86

[10:19] {larisa} very nice

[10:19] {nemo} why didn't you pick up an ese allotment a penny or two higher?

[10:19] {Threei} ty larisa, you are the only one I am going to comunicate with from Tibet

[10:20] {nemo} I can find you there

[10:20] {Threei} not if my cave entrance is protected with two machine guns... which is my intention

[10:20] {fernp} perfect entry Vad. 24.00 was lod

[10:20] {Threei} :)

[10:21] {BillyD} Vad, anything on chart for 24 on AIG or just looked right

[10:21] {Threei} pure guts

[10:21] {Threei} no technicals to this kind of things

[10:21] {BillyD} what I thought.......caught the very tip of the knife

[10:22] {Threei} some of bottom fishing can be done with some technicals, like we did on LVS

[10:22] {Threei} that one was based on certain chart structure

[10:22] {Threei} AIG was not

[10:22] {nemo} discretion was the bettor ({pun intended) part of valor on lvs

[10:23] {jfjf64} axp what up

[10:24] {jfjf64} .40 break was sleepin

[10:24] {jfjf64} lk at vol

[10:24] {jfjf64} vol never lies

[10:25] {ese} L hans .63

[10:25] {jfjf64} or does it vad

[10:26] {nemo} aig C&H?

[10:26] {Threei} kind of nemo

[10:27] {nemo} teeny weeny handle, but looks like it's breaking resistance on rising volume

[10:27] {jfjf64} gonna touch high ese nice

[10:28] {ese} Out HANS .78 +.15

[10:28] {nemo} 20k of the little buggers?

[10:28] {ese} tks

[10:28] {jfjf64} nice

[10:28] {ese} 4k

[10:28] {ese} sorry 3k

[10:28] {jfjf64} aig grrrrrrrrrrrrrrr nemo hope ya in c/h

[10:29] {nemo} no, it was gut

[10:29] {nemo} don't trust that yet

[10:30] {ese} I think hans is just gonna creep on up there jf

[10:30] {ese} almost at high now

[10:30] {ese} done deal

[10:31] {jfjf64} .89 break

[10:31] {jfjf64} hans in

[10:32] {ese} nice move as well jf

[10:32] {jfjf64} nice on little puulbk see what happens

[10:33] {nemo} interesting $ up and market up

[10:33] {wulff} revenge on HIG stop +.17

[10:34] {jfjf64} hit me grr

[10:35] {wulff} got back in at .82

[10:36] {jfjf64} fas .87 break

[10:37] {nemo} wow

[10:37] {magoo} in aig cross 19

[10:37] {magoo} liked it with futes

[10:37] {Threei} HIg you mean

[10:37] {magoo} i mean HIG

[10:37] {jfjf64} all out

[10:38] {ese} L zion .79

[10:38] {wulff} still have half lot

[10:38] {jfjf64} wow fas

[10:39] {ese} out zion .85 +.06

[10:39] {magoo} out here TY vad

[10:40] {ese} not trusting breakouts these days

[10:40] {magoo} want to catch a rip...but my instinct is scalpin

[10:40] {ese} me takes the intitial push and gets out if it pauses

[10:40] {magoo} very conflicted..cant catch a big one if i scalp

[10:40] {nemo} summer friday afternoon coming, question is: does the euphoria over the jobs report last?

[10:40] {magoo} but hate losing my $$

[10:40] {jfjf64} wfc

[10:41] {wulff} look at CAT resistance

[10:43] {fernp} have to go. see you all on monday

[10:43] {Threei} take care fern, have a good weekend

[10:43] {jfjf64} latre fern

[10:43] {ese} cya fern.....have a great weekend

[10:43] {Threei} biy, those europians... use any excuse to prolong their weekends and vacations {G}

[10:44] {ese} no kidding eh

[10:45] {wulff} AIG slow and steady

[10:45] {Threei} wulff must be the only one in this universe calling AIG slow this week

[10:46] {ese} L csco .67

[10:46] {jfjf64} lk .49 break aig 1000 shares .25cent stop

[10:47] {ese} bemoth......will take forever to climb

[10:47] {jfjf64} went to fast for me

[10:47] {nemo} behemoth?

[10:47] {ese} tks eggzactly

[10:47] {nemo} ur velcim

[10:48] {Threei} I think my mission on this planet is completed

[10:48] {ese} csco just crossed a 5 day high........this should carry on up if market keeps going

[10:48] {nemo} my typing isn't fubar yet

[10:48] {Threei} I taught so many people to spell things in the most perverse way possible

[10:49] {Threei} time to move to Jupiter

[10:49] {ese} your my idol there vad

[10:49] {nemo} they got monasteries?

[10:49] {Threei} although I have to say ese... your "eggzactly" leaves wanting a little

[10:50] {Threei} "eqzaktly" is more like it

[10:50] {nemo} koreqkt him Vad

[10:50] {ese} give me another chance.......just one more schance

[10:51] {ese} get goin csco you elephant you

[10:51] {nemo} frickin aig

[10:52] {nemo} wfc @ r1

[10:53] {nemo} aig touched and falling back

[10:53] {jfjf64} jpm monster

[10:55] {Threei} JAVA EU reportedly has found some problem areas in ORCL/JAVA merger deal related to middleware and database segments - unconfirmed report

[10:55] {Threei} - deadline for the companies to respond to a questionaire sent by the regulators is Aug 13.

[10:55] {Threei} - P... (9.11, -0.04, -0.44%) more... (related ORCL )

[10:57] {Threei} HIG feels like continuation

[10:57] {Threei} finding entry is not ver easy

[10:57] {Threei} jumpy

[10:57] {nemo} pru Vad

[10:57] {Threei} even jumpier

[10:58] {Threei} WFC, sheesh

[10:59] {magoo} this mkt is SICK

[10:59] {nemo} fits you to a "T"

06[10:59] * nemo slaps nemo around a bit with a large trout

[11:00] {nemo} your welcom magoo

[11:03] {nemo} aig break of .50?

[11:03] {Threei} if you can handle its volatility

[11:03] {nemo} guess it could go either way

[11:05] {ese} out csco .73 +.06

[11:05] {ese} 6k.....that good enough aye yi yi....that things moves slow

[11:06] {nemo} no

[11:09] {jfjf64} good day alll off to da bank got to luv this buiz

[11:09] {Threei} take care jf

[11:09] {jfjf64} ty for eveythin

[11:10] {BillyD} just an r & g short of complete word

[11:10] {BillyD} getting better

[11:10] {BillyD} lol

[11:10] {jfjf64} lol

[11:10] {BillyD} cya JF :)

[11:17] {BillyD} did time stop

[11:17] {nemo} happens when vad goes into coma

[11:18] {BillyD} can hear the PC fan motor to perfection

[11:18] {Threei} lol

[11:18] {Threei} nemo... as if I ever came out of it

[11:26] {nemo} fas break?

[11:26] {Threei} feels like a trap rathere

[11:26] {nemo} that was my gut, but thought I'd ask

[11:55] {BillyD} HIG is holding fairly well

[11:56] {Threei} tough read...

[11:59] {BillyD} these little mkt spikes mess up setups that try and form

[12:01] {magoo} yea..im fearful to short today...

[12:07] {ese} hmmmmmm....i'm fearfull shorting just about all the time....can't figure that out......

[12:07] {wulff} WFC short

[12:07] {BillyD} I like it

[12:07] {nemo} turn the chart upside down ese

[12:09] {ese} oh ya sure.......

[12:09] {ese} alright i'll give it a try

[12:09] {nemo} same patterns upside down

[12:09] {wulff} Wulff asks WFC to please drop

[12:10] {nemo} wulff type "/me asks WFC to please drop"

[12:10] {BillyD} where you in at wulff

[12:10] {wulff} 29 short

[12:10] {ese} hey wow....it works........Ok short 88000shs ofdrys

[12:10] {nemo} ese, wait till the buzz wears off

[12:11] {ese} just kidding......

[12:11] {nemo} jeez, thought you wer going to ask if I wanted to buy a bridge

[12:14] {wulff} I got to get some hobbies

[12:14] {wulff} this is torture

[12:16] {Threei} market is locked in 5 poits range for hour and half

[12:16] {Threei} why push?

[12:27] {Threei} AIG Discloses retention pay to cost $1.1B through 2011 - filing (26.60, +4.07, 18.06%)

[12:27] {larisa} ese, scalp shorts examples : counter trend shorts on JPM : 10:59 top created perfect price divergence and 12.08 double lower top. Strong stock, so scalps only. You have to feel exhaustion though price would still rise. Shorting bottoms on weak stock is diff mindset

[12:28] {dptl} good morning all

[12:28] {Threei} lol dp

[12:28] {dptl} :)

[12:28] {larisa} but "THEY" say trader have to do longs and shorts equally easy. Vad you agree ?

[12:29] {larisa} hi dp:)

[12:29] {Threei} I do larisa

[12:29] {Threei} it's not "must"

[12:29] {Threei} but it's a natural outcome of a trader's development

[12:30] {Threei} as one gets rid of ego-governed directional bias

[12:30] {Threei} it becomes absolutely the same

[12:30] {Threei} movement is movement, there is no emotional attachment to any direction

[12:31] {Threei} whichever way setup forms, you just take it'

[12:35] {patel} u like LVS over 12

[12:36] {Threei} if it weere Monday I would confidently say yes

[12:36] {Threei} chart is ggrea

[12:36] {patel} yup

[12:36] {Threei} time of day and day of the week is nort

[12:36] {patel} 200 day chart looks great

[12:36] {patel} nothing over 12

[12:36] {Threei} right

[12:37] {nemo} but it's Friday afternoon...does the market have another run?

[12:37] {patel} thats true nemo

[12:39] {Threei} 1:1

[12:40] {nemo} nice call patel

[12:40] {patel} tks

[12:41] {patel} i thought it could run after i saw the 200 day chart

[12:41] {nemo} should we generally be looking at scalps on Friday afternoon Vad?

[12:41] {Threei} [09:32] {Alert} Threei LVS, 11.90 long establishd resistance

[12:41] {Threei} [09:33] {Alert} Threei if takes it and doesn't trip of 12, has a a #discussionsce for a big move

[12:41] {Threei} generally, yes

[12:42] {nemo} unless your name is "Magoo"

[13:03] {Threei} US Treasury's Kruger: There are increasing signs that the economy is stabilizing

[13:04] {Threei} 2H09 growth in economy is 'plausible'

[13:04] {Threei} - Administration is concered over data showing long term unemployment

[13:17] {Threei} what's our obligatory phrase no day goes without?

[13:18] {larisa} I like him. let him talk :)

[13:18] {Threei} hehe

[13:19] {Threei} (US) President Obama: We are pointed in the right direction, jobs report is another sign the worst is behind us (related EUR/USD )

[13:50] {nemo} hows the coma vad?

[13:50] {Threei} just perfect

[13:50] {Threei} why?

[13:51] {nemo} bored...thought I'd ask, why?

[13:58] {Threei} 25% Agree With Pelosi That Health Insurers are Villains

[13:58] {BillyD} rofl

[13:58] {wulff} the other 75% agree she is a villian

[13:58] {Threei} :)

[13:58] {BillyD} they must know "they" of the market

[13:59] {larisa} :)

[14:01] {larisa} CNBC will believe this rally was for real when DJI back to 14K ?

[14:01] {BillyD} then it will be over

[14:03] {Threei} this is the concept I never really understood

[14:04] {Threei} everyone discussing "real" the rally is or not

[14:04] {nemo} rally is a rally...wtf

[14:04] {Threei} what do they mean not real, I see it with my own eyes

[14:04] {Threei} it happens

[14:04] {Threei} how can it be not real

[14:04] {nemo} they sound like a good argument for retro-active abortion

[14:04] {Threei} if they mean it's short-lived, well

[14:05] {Threei} that's up to anyone's market read

[14:05] {Threei} but whether it continues for 3 days or 3 years, it's real

[14:05] {Threei} words "fake rally" make no sense to me

[14:05] {BillyD} if it makes my stock move it is real....lol

[14:06] {Threei} I ave just one qwuestion

[14:06] {nemo} why?

[14:06] {Threei} if I go long and make money, and then they call the rally fake,

[14:06] {Threei} do I have to return my profit?

[14:06] {nemo} you have to give it to me

[14:06] {dptl} lol

[14:07] {BillyD} it would be the right thing to do vad

[14:07] {Threei} why... I invite you to go long with me, no?

[14:07] {Threei} free will, ya know

[14:07] {Threei} I am a big fan of free will

[14:07] {nemo} what's your's is mine and what's mine is mine...oh forgot, that's what wives say

[14:08] {Threei} I also like to take "theirs" from those who want to take mine {G}

[14:09] {nemo} yep...and some body parts to boot

[14:09] {Threei} I believe in reciprocation, and reciprocator's gotta do what reciprocator's gotta do

[14:10] {Threei} two machine guns in front of my Tibet cave entrance reinforce this motto

[14:10] {Threei} WFC... consolidation above 29 becomes interesting

[14:11] {Threei} if upward markert thurs proves a trap again,

[14:11] {Threei} Short Setup: WFC 29 breakdown if stays below 21.10

[14:11] {Threei} LVS... sigh

[14:12] {Threei} why couldn't 12 break occur on Monday

[14:12] {nemo} not fair

[14:12] {larisa} why? Friday's rally are fake? :)

[14:14] {Threei} I would be all over it with repetitive warning "not a scalp"

[14:14] {Threei} yes larisa... they are :)

[14:14] {larisa} ahha

[14:15] {Threei} diamonds given on Fridays are fake

[14:15] {Threei} salmon caufght on Friday is farmed

[14:16] {Threei} beef bought on Friday is ornages-fed

[14:16] {larisa} k, i got the picture

[14:17] {Threei} good... I may stop short of discussing silicon then

[14:18] {Threei} interesting... MGM is up but not following LVS in this recent explosion

[14:20] {Threei} WFC triggered

[14:23] {chiro} target on WFc?

[14:23] {Threei} can't really tell whether it's just a scalp of capable of more

[14:23] {Threei} let's comrpomise

[14:24] {Threei} if it works, cover 2/3 or 3/4 around 1:1

[14:24] {Threei} 1:1

[14:25] {Threei} covered 2/3

[14:25] {Threei} stop to 29.02

[14:25] {chiro} t u

[14:25] {Threei} y w

06[14:26] * Threei slaps nemo around a bit with a large reminder that good coma never stood in the way of good trading

[14:26] {BillyD} ty wfc

[14:26] {Threei} :)

[14:27] {jfjf64} ty also vad poped back in office nice nice got to luv ittttttttttttttttt

[14:28] {Threei} lol

[14:29] {Threei} you are insuffereable jf... your passion to make money, lol

[14:29] {Threei} probably exceeds evcen my ability to mistype things

[14:30] {dptl} ok...:)

[14:30] {dptl} have a good weekend all :)

[14:30] {Threei} take care dp, have a good one

[14:31] {Threei} (those lazy vancouverities)...

[14:31] {Threei} worse than europians

[14:31] {dptl} Vad fish here so trying to get as much as i can lol

[14:31] {Threei} get some for me?

[14:31] {jfjf64} i watched scarface last night got pumped up seein them carryin duffle bags of cash too bank turned out to be great day say hello to da bad guy

[14:32] {Threei} 'cause you know, they say we will run out of it somewhere around 2032

[14:32] {Threei} lol jf

[14:32] {dptl} my freezer is preatty much full :)

[14:32] {jfjf64} nice dp

[14:32] {Threei} scared to think what happens if you watch Once Upon a Time in America

[14:33] {jfjf64} vad must hv a walk in box what ya think

[14:33] {Threei} mine has some room, dp

[14:33] {dptl} would you like it salted or fresh?

[14:33] {Threei} ummm... both? :)

[14:33] {dptl} lol.....ok

[14:34] {jfjf64} take it any way i cd gt it

[14:34] {magoo} AIG

[14:34] {Threei} I accept fish as a bribe

[14:34] {Threei} I haven't come up with idea what to be bribed for though

06[14:34] * magoo slaps Threei around a bit with a large trout

[14:34] {dptl} :) got it

[14:35] {jfjf64} missed it mags lv that set up

[14:35] {Threei} no new news AIG

[14:37] {jfjf64} ge s .74 trigger

[14:51] {magoo} AIG vad..try and read it

[14:51] {magoo} i scalped 28 to .25

[14:53] {Threei} AIG is not a matter of read mags

[14:53] {Threei} it's a matter of risk

[14:54] {Threei} and it's unsuitable for 99%

[14:54] {magoo} in .34 out .71

[14:54] {magoo} more like FEEL

[14:56] {BillyD} HIG creeps up

[14:58] {Threei} PIMCO's El Erian: Bull market in equities is not likely to last

[14:58] {Threei} too early to call for a vigorous economic recovery

[14:58] {Threei} - Reminder on 7/29 El Erian called the July equities rally a 'sugar high'

[14:58] {Threei} read; "crap, we missed it"

[14:59] {BillyD} lol

[14:59] {_prth} someone must be short the market

[14:59] {Threei} or that

[14:59] {BillyD} your news feed is cheap entertainment for you with occasional vocational use

[14:59] {Threei} calls certain US assets like US stocks are overbought in relation to their fundamentals

[14:59] {Threei} lol Billy

[14:59] {BillyD} what's new with stocks

[15:00] {Threei} *JUNE CONSUMER CREDIT: -$10.3B V -$5.0BE

[15:01] {Threei} whoa

[15:01] {Threei} AIG

[15:01] {magoo} thats why its scary\

[15:01] {magoo} glad im out

[15:01] {Threei} mama

[15:02] {magoo} HOLY SHIT

[15:02] {Threei} gravity does exist after all???

[15:02] {nemo} wtf'

[15:02] {Threei} no, can't be

[15:02] {nemo} anyboy short it

[15:02] {magoo} i got out 28.71

[15:02] {Threei} 14:53] {Threei} AIG is not a matter of read mags

[15:02] {Threei} [14:53] {Threei} it's a matter of risk

[15:02] {Threei} [14:54] {Threei} and it's unsuitable for 99%

[15:02] {magoo} hey..post my response

[15:03] {Threei} WFC baby!

[15:03] {Threei} over 1:2

[15:03] {Threei} I am out

[15:03] {magoo} [14:54] {magoo} in .34 out .71

[15:03] {magoo} [14:54] {magoo} more like FEEL

[15:03] {Threei} AIG Names certain director changes (26.93, +4.40, 19.53%)

[15:04] {Threei} you'd think they designated Fidel Castor in directors

[15:04] {Threei} Castro too

[15:04] {magoo} and chuckie manson vad

[15:04] {Threei} lol

[15:04] {Threei} - William J. Glasgow has been named Chief Restructuring Officer of AIG Global Real Estate, the international real estate investment organization.

[15:04] {Threei} - In conjunction with the overall restructuring of AIG, AIG Global Real Estate has previously announced its intention to divest certain holdings in its real estate business. Mr. Glasgow will oversee the execution of the real estate restructuring program

[15:04] {Threei} - Robert G. Gifford has been named President and Chief Executive Officer of AIG Global Real Estate, the international real estate investment organization.

[15:07] {Threei} anyone did partial on WFC short?

[15:09] {BillyD} no, but reshorted at .79 and coveredfor scalp

[15:09] {Threei} :)

[15:21] {magoo} GS crushed

[15:30] {magoo} GS no bounce yet

[15:35] {ese} well it's been a day.........couple of good trades but still waitin on DRYS......yall have a good weekend now ya hear....

[15:35] {ese} see you monday

[15:35] {BillyD} cya ese

[15:35] {ese} later BD

[15:37] {Threei} take care ese

[15:52] {magoo} ok..out TY vad everone..my best week of year

[15:53] {larisa} bye :)

[15:53] {nemo} wait till Dino gets back...hehehehe

[15:53] {Threei} ciongratulations mags

[15:53] {magoo} :)

[15:53] {magoo} hope dino isnt a jinx

[15:54] {magoo} hes back monday

[15:54] {nemo} well, he won't be able to trade until he gets a new computer

[15:54] {BillyD} send him on a cheap camping vacation then

[15:54] {magoo} they brought it in today

[15:54] {BillyD} lol

[15:54] {BillyD} same exact one magoo

[15:55] {nemo} gnite

[15:56] {BillyD} have a good wknd everyone...cya

[15:57] {Threei} thank yiou all

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

[15:57] {Threei} see you on Monday