Aug 14 2009

The best way to finish the week - with a bang. 5 wins out of 6 calls, and one of them is a nice BAC run. The rest were usual suspects: WFC, RIMM and CAT.

Session Time: Fri Aug 14 00:00:00 2009

[08:00] {Threei} (US) FHFA's Lockhart: Housing prices are starting to stabilize, seeing "significant results" from TARP - CNBC (related XHB )

[08:00] {Threei} C BofA/Merrill Lynch Raised C to Buy from Sell, price target: $5.75 (timing uncertain)

[08:00] {Threei} - Analysts see crisis in organization as largely past

[08:00] {Threei} - Prior PT $2.50

[08:26] {Threei} BLTXX Baltic Dry Bulk Index: +2.6% (second straight increase

[08:30] {Threei} JULY CONSUMER PRICE INDEX M/M: 0.0% V 0.0%E; CPI EX FOOD&ENERGY M/M: 0.1% V 0.1%E;

[08:30] {Threei} - CPI Y/Y: % v -1.9%e

[08:30] {Threei} - Core CPI Y/Y: % v 1.6%e

[08:31] {Threei} CPI Y/Y: -2.1% v -1.9%e

[08:31] {Threei} - Core CPI Y/Y: 1.5% v 1.6%e

[08:32] {Threei} IMMU Announces FDA Allowance of Investigational New Drug Application for Milatuzumab-Doxorubicin Conjugate

[08:32] {Threei} - Coannounced the allowance of an investigational new drug (IND) application filed with the U.S. Foo... (4.12, 0.00, 0.00%) more...

[08:33] {Raven} Milatuzumab-Doxorubicin Conjugate

[08:33] {Raven} I need some of that

[08:35] {Threei} lol

[08:58] {cosmo} ARCC should hold 9.95 .... my guess

[08:58] {cosmo} 9.05

[08:59] {cosmo} sorry

[09:05] {fernp} good morning everybody

[09:05] {Threei} fern :)

[09:15] {Threei} JULY INDUSTRIAL PRODUCTION: 0.5% V 0.4%E; CAPACITY UTILIZATION: 68.5% V 68.3%E

[09:18] {magoo} morning

[09:18] {Threei} magoo :)

[09:19] {magoo} what u watching

[09:19] {Threei} C

[09:19] {Threei} LVS

[09:25] {larisa} good morning :)

[09:26] {Threei} larisa :)

[09:26] {larisa} thought everybody went on vacation :)

[09:27] {magoo} bac wfc took a hit there

[09:28] {Threei} everybody did lartisa... we are the only ones stuck here

[09:29] {dino} gm all

[09:29] {Threei} dino :)

[09:29] {cosmo} ARCC pre mkt high = 9.22 fwiw

[09:31] {fernp} YHOO double bottom on daily chart

[09:34] {Threei} Long Setup: C .15 if stays above .10

[09:37] {dino} jst

[09:38] {magoo} freakin rimm doesnt even fall tooday

[09:38] {dino} a bit wide

[09:40] {Threei} Short Setup: CAT .60 break half lot

[09:40] {nemo} iios

[09:40] {nemo} oops

[09:42] {magoo} RF pop

[09:45] {magoo} mgm higher

[09:46] {Threei} CAT 1:1

[09:47] {fernp} out CAT. ty Vad

[09:47] {Threei} :)

[09:47] {Threei} wqfc

[09:47] {magoo} wfc

[09:47] {Threei} Long Setup: WFC .96

[09:48] {Threei} stop under .85

[09:49] {Threei} 1 cent shy of 1:1?

[09:50] {Threei} FRPT CFO: May be awarded contract valued up to $1B over 5-years (4.70, +0.02, 0.43%)

[09:51] {Threei} Have the potential for service sales to double as military operations in Agh ramp up

[09:51] {Threei} - Over 2K Cougar armored vehicles being moved into Afghna theater, could result in $250M added to yearly rev target

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

[09:51] {fernp} WFC out here. ty again

[09:51] {Threei} :)

[09:55] {Threei} AUG PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 63.2 V 69E

[09:56] {Threei} awww

[09:56] {Threei} why did ever cover CAT

[10:00] {nemo} given the downward tenor of the markets, guess allowing for a bear flag would have been prudent

[10:03] {fernp} shorted BAC 16.78 stop 16.88

[10:03] {dino} rtp

[10:04] {dino} pmug

[10:04] {dino} nope

[10:06] {fernp} out here +.10

[10:06] {dino} bks

[10:06] {Threei} US Climate Bill in Senate will reportedly include a 'significant' amount of free pollution permits - unconfirmed report (related CARBX USO UNG )

[10:08] {Threei} Long Setup: WFC .80 break

[10:09] {fernp} under .70 stop?

[10:09] {Threei} sure

[10:13] {Threei} no go

[10:18] {fernp} BAC and HIG not making new lows

[10:19] {Threei} still doesn't feel like market is ready to reverse

[10:28] {Threei} what's wih RMBS

[10:32] {nemo} Hey Dino: http://www.boston.com/bostonglobe/obituaries/articles/2009/08/14/les_paul_94_pioneered_recording_techniques_inspired_a_world_of_guitarists/

[10:42] {jfjf64} mornin

[10:42] {Threei} hey jef

[10:43] {Threei} -e

[10:45] {jfjf64} rmbs .15 break

[10:45] {nemo} jf's got that itch to scratch again

[10:45] {jfjf64} lol

[10:46] {jfjf64} how was opening

[10:47] {nemo} What time does the NY/CHI FADC start today?

[10:48] {Threei} opening was not very eventful

[10:48] {Threei} 2 scalps, one stop

[10:48] {_prth} is this a double bottom on wfc?

[10:49] {nemo} wffc kinda looks like the spy and Qs

[10:50] {dino} sm l jst .00

[10:50] {nemo} FCX an CAT do too...all seem to be following at the moment

[10:50] {Threei} most likely but entry should be on pullback

[10:51] {jfjf64} rmbs invalid

[10:52] {jfjf64} ery .80 break

[10:55] {dino} s/p lod

[10:57] {Threei} CAT .50 break is obvious short

[10:57] {Threei} too obvious?

[10:58] {magoo} dont like that

[10:58] {magoo} mkts due to bounce

[11:02] {BillyD} morning

[11:02] {BillyD} anything on the radar

[11:02] {nemo} coma

[11:03] {Threei} Billy :)

[11:03] {BillyD} what I thought..hehe

[11:04] {dino} vlkay

[11:09] {Threei} Short Setup: CAT .80 break

[11:09] {Threei} if stays under .90

[11:10] {nemo} .91 is resistance under pivot

[11:11] {nemo} blew right by

[11:11] {nemo} range play vad?

[11:13] {Threei} ?

[11:13] {nemo} were you targeting the bottom of the range since 10 of .55?

[11:14] {Threei} why guess

[11:14] {Threei} let it trade and watch the masrket

[11:14] {Threei} follow what happens

[11:28] {Threei} 1;1

[11:29] {fernp} out here. ty

[11:29] {Threei} :)

[11:29] {fernp} have to go. see you on monday. Happy weekend to all

[11:30] {Threei} take care fern, have a good one

[11:30] {Threei} 1:2

[11:30] {BillyD} ty

[11:30] {Threei} so far so good... 3 for 4

[11:31] {BillyD} gj

[11:34] {Threei} why does CAAS bother me so much... second day

[11:37] {dino} rtp 157 trig, v sm

[11:38] {dino} bothers you because of the double AA

[11:38] {BillyD} lol

[11:40] {Threei} hmmm

[11:40] {Threei} i need to ponder that

[11:41] {dino} please do

[11:47] {Threei} RMBS Hearing strength being attributed to renewed takeover chatter circulating (timing uncertain) (17.55, +1.74, 11.01%)

[11:48] {BillyD} rumors such a game

[11:52] {BillyD} Vad, another CAT short on .50 if under .60

[11:53] {Threei} need a bit of consolidation

[11:53] {BillyD} just because it is a heavier stock for the most part

[11:55] {magoo} THC pop-a-roo

[11:56] {Threei} SBCF Halted: News pending

[11:56] {jfjf64} so long guys off to airport

[11:56] {Threei} have fun jf

[11:56] {dino} cya jf

[11:56] {jfjf64} ty

[11:56] {magoo} bye jf

[11:57] {jfjf64} haappy trading

[11:57] {jfjf64} see ya all when i get back

[11:58] {dino} rtp

[12:02] {dino} bks sm l .80

[12:02] {BillyD} HOLX chart notbad

[12:03] {BillyD} over 15

[12:16] {Threei} well... CAT seems to be ready

[12:16] {Threei} it's total markert coma that keeps me concernesd

[12:17] {BillyD} lol....one little spike up and stop

[12:17] {Threei} let's go long on .60 break then?

[12:17] {Threei} fades work lately :)

[12:18] {BillyD} too indecisive for me

[12:18] {BillyD} passing for now....I was more short biased

[12:19] {BillyD} you watching GRRF

[12:19] {BillyD} one to keep eye on imo

[12:20] {Threei} thinnie...

[12:20] {BillyD} only when it's not moving...lol

[12:33] {dino} bks stopped -.31

[12:47] {_prth} what do you think of iwm 56.01 break?

[12:48] {Threei} if market bounces so should IWM

[12:48] {Threei} problem is market does absolutely nothing

[12:48] {Threei} compare the charts

[12:48] {Threei} they are identical

[12:51] {nemo} missed C&H on rimm

[12:56] {Threei} BCRX Recent strength attributed to Dept of HHS holding public teleconference on H1N1 countermeasures from Noon to 2pmET today (10.08, +0.42, 4.35%)

[12:57] {Threei} Long Setup: RIMM .55 brteak

[12:57] {Threei} if stays above .40

[12:58] {Threei} eeck

[12:58] {nemo} anybody catch it

[12:58] {larisa} rofl

[12:58] {Threei} 1:1 in like 2 seconds

[12:58] {nemo} burned my fingers

[12:59] {BillyD} got 200 shares at .58 and out .73

[12:59] {BillyD} lol

[12:59] {nemo} guess the algo programs were looking at .55 :)

06[13:00] * nemo slaps ese around a bit with a large trout

[13:00] {ese} well my goodness this works

[13:00] {nemo} hey ese, Les Paul died

[13:00] {Threei} wow

[13:00] {ese} coming to live from Ballerup Denmark

[13:00] {Threei} hi ese

[13:00] {Threei} how's trip?

[13:01] {ese} so far so good a great show today at a danish high school Borupgaard High school

[13:01] {Threei} let me try and say it fast three times

[13:02] {ese} Les Paul....my goodness.....now that is a legend....the person who revolutionized the guitar

[13:03] {ese} just popped in to say hello....on my way out to another function at Baghuset (pronounced Bowoouuza) the local music house

[13:03] {patience} nice to hear from you ese :)

[13:04] {Threei} Baghuset pronounced Bowoouuza....

[13:04] {ese} hmmmm market dn 130.....brutal day for you all...or rather tough day?

[13:04] {Threei} nice day actually

[13:04] {BillyD} gotta run, have a nice weekend everyone

[13:04] {Threei} 5 calls, 4 winners... one was almost impossible to catch though

[13:05] {Threei} take care Billy

[13:05] {patience} good day for me, playing energy sector

[13:05] {ese} nothing but the best from you vad.........have a great weekend all.....will try to pop in next week..

[13:06] {ese} hey nemo....how old was Les Paul by the way?

[13:06] {nemo} 94

[13:06] {ese} 94?........lotsa music to live for i guess......take care all

[13:09] {patience} have a great weekend ese

[13:10] {patience} oops, too late

[13:11] {dino} sm l jst .10 last try

[13:19] {dino} out rtp .65, +.65

[13:20] {Threei} this is absolutely hillarious

[13:20] {Threei} http://www.dailymail.co.uk/news/worldnews/article-1206018/Squirrel-crashes-holiday-snaps-How-cheeky-rodent-star-couples-photos.html

[13:21] {nemo} can't make that stuff up

[13:22] {Threei} notice: camera refocused on squirrel

[13:22] {Threei} original subject became a bit blurry

[13:22] {nemo} yeah

[13:23] {Threei} BCRX...

[13:25] {Threei} judging by daily and volume, has a nice chance to become a runner one day

[13:43] {Threei} RMBS Reportedly wins ruling in antitrust case against chip manufacturers

[13:43] {Threei} - Note: there had been much speculation circulating over possible court case wins in the last 24

[13:47] {dino} rtp sm l .40

[13:53] {Threei} more than two hours in 5 points NQ range

[13:54] {nemo} quite the roller coaster

[14:03] {dino} yes indeed

[14:07] {magoo} freakin BAC

[14:07] {magoo} B

[14:07] {magoo} A

[14:07] {magoo} C

[14:14] {Threei} I see no news

[14:16] {Threei} the pace of trading says, "I am going higher"

[14:17] {magoo} yea..somethingss up..never fell with mkt rot

[14:17] {nemo} paulson bought all those shares

[14:19] {Threei} let's try off pullback if dives into 17?

[14:19] {Threei} or .20 break if stays above .10

[14:19] {Threei} actually .19 new high

[14:21] {Threei} offering half .31, 1/4 at .45 and 1/4 at .65

[14:22] {magoo} in w/u

[14:22] {magoo} stop?

[14:23] {Threei} [14:19] {Threei} ... if stays above .10

[14:23] {magoo} ops

[14:28] {magoo} hope its not topping here

[14:29] {larisa} 17.21 res, need to break and stay above it

[14:29] {Threei} .25 you mean

[14:29] {larisa} mine is .21 :)

[14:29] {nemo} r1 is almost .26

[14:29] {larisa} mine is Camarilla :)

[14:34] {Threei} {Paulson} no way it was top

[14:34] {Threei} see how pace picks up?

[14:34] {Threei} that's you clue o runners

[14:35] {Threei} and look at volume configuration

[14:35] {Threei} this slower trading, pause, retreat with volume somewhat drying up,

[14:35] {Threei} then sharp spike in both price and volume

[14:35] {Threei} this kind tends to go big

[14:35] {Threei} much bigger than a scalp, this is momo

[14:36] {Threei} even if you are not trading it, watch

[14:36] {Threei} memorize

[14:36] {Threei} we will have more of those come fall

[14:36] {Threei} first target hit, half out

[14:37] {Threei} so, learn to recognize them

[14:38] {Threei} and watch for patterns

[14:40] {Threei} TM DoT discloses 'cash for clunkers' data; TM is top seller with approx 19% of sales

[14:40] {Threei} new highs, pace increases again

[14:41] {Threei} second target approaches

[14:41] {Threei} 1:2

[14:41] {larisa} ever heard of Camarilla system? this is what is happening on BAC. from 16.79 support to 17.21 res. Traders short 17.21. if it breaks, the cover and watch for major break at 17.42. After breaking it : it can become runner. Well known system

[14:42] {larisa} just sharing :)

[14:42] {Threei} where do these numbers come from?

[14:42] {larisa} calculated in certain way

[14:43] {Threei} second target hit, .45, 1/4 more out

[14:43] {jmb} Thanks Vad

[14:43] {Threei} welcome

[14:43] {Threei} we end the week with a bang, not with a whimper

[14:44] {Threei} too bad Billy anf fern left

[14:44] {magoo} [14:07] {magoo} freakin BAC

[14:44] {magoo} [14:07] {magoo} B

[14:44] {magoo} [14:07] {magoo} A

[14:44] {magoo} [14:07] {magoo} C

[14:44] {Threei} your point is...?

[14:44] {larisa} lol

[14:44] {Threei} BAC Hearing strength being attributed to expected Master Trust data due out within next few days (17.39, +0.39, 2.29%)

[14:45] {nemo} aahhhhh,,,the old master trust data...

[14:45] {Threei} lol

[14:45] {Threei} btw, stop for the last piece is under .20

[14:46] {Threei} with other speculation circulating that Paulson and Co intend to hold on to recently disclosed holdings

[14:46] {Threei} of course he is so eager to telegraph his intentions to entire world

[14:47] {Threei} I am sure he will also tell us when he sells couple days in advance

[14:47] {_prth} thank you BAC:D

[14:47] {Threei} welcome

[14:48] {Threei} when you get familiar with these patterns to the degree they become practically "sure thing" to you, great fun will be:

[14:49] {Threei} grab 5-10K shares as close to support as you can,

[14:49] {Threei} and feed them out gradually as stock movesd through your targets

[14:49] {Threei} one such trade makes a week

[14:50] {Threei} Note: Master Trust data usually released in the middle of each month, expected early next week

[14:50] {magoo} BACCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

[14:51] {Threei} oh, and get drunk while at it

[14:51] {Threei} works for magoo as you can see

[14:51] {magoo} hiccup

[14:51] {Threei} what he really meant was Bachus

[14:51] {_prth} VADDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD great call!!!!!!!!!!!!!!!!!!!!

[14:52] {Threei} there... drunkeness takes over

[14:52] {Threei} BACHUS, BACUS. Bacchus is a Lydian name for Dionysus, the Thracian fertility god. A son of Jupiter, he later became the god of wine

[14:53] {Threei} don't confuse for Spencer Thomas Bachus III

[14:53] {Threei} Republican member of the United States House of Representatives since 1993, representing Alabama's 6th congressional district.

[14:54] {Threei} sheesh... August IS a slow month

[14:54] {Threei} double tiop BACX

[14:54] {Threei} BAC

[14:54] {Threei} lost support between peaks

[14:56] {Threei} did we vindicate ourselves for yesterday's lacklustre 2 out of 5 or what

[15:02] {Threei} stop to under .30

[15:04] {larisa} have a good weekend pipl :)

[15:04] {Threei} you too larisa

[15:07] {Threei} and just who do you think is on TV?

[15:07] {nemo} Biden?

[15:07] {nemo} Gingrich?

[15:07] {nemo} Jesse Jackson?

[15:07] {Threei} one guess left

[15:07] {nemo} THE SAVIOR

[15:08] {Threei} ummm

[15:08] {Threei} actually...

[15:08] {Threei} :)

[15:39] {Threei} MTXX Hearing Boutique firm making positive comments [Agora Financial]

[15:40] {dino} over coffee and doughnuts

[15:40] {Threei} I've got a suggestion guys

[15:41] {Threei} let's have a great weekend

[15:41] {Threei} think we desrved?

[15:41] {Threei} thank you all,, take care, I'll see you on Monday

[15:42] {dino} cya 3i

[15:43] {magoo} ty vad