Aug 21 2009

Just waiting for the summer to end.

Session Time: Fri Aug 21 00:00:00 2009

[08:49] {nemo} well the rally continues

[08:53] {Threei} why wouldn't it

[08:54] {nemo} I wasn't looking for a reason

[08:54] {Threei} broad call for reversal was too, ummm, broad

[08:54] {nemo} yeah

[08:54] {nemo} By the way...a preemptive "You're home already, Vad"

[08:56] {Threei} sigh

[08:58] {cosmo} BRCD

[08:58] {nemo} aig

[09:00] {cosmo} * Fiscal Q3 revenue $493.3 mln, lower than estimate and Q2

[09:00] {cosmo} * EPS excluding items $0.12 vs Street view $0.11

[09:00] {cosmo} * Shares fall 5.6 pct after-hours

[09:00] {cosmo} * CEO says predicting recovery "like grabbing water"

[09:01] {cosmo} what goes down, must float up

[09:01] {cosmo} sorta

[09:04] {Threei} hmmm

[09:04] {Threei} dunno cosmo

[09:04] {Threei} I just tested your theory

[09:04] {magoo} morn

[09:04] {cosmo} what gets pushed down, must float back up?

06[09:04] * nemo slaps magoo around a bit with a large trout

[09:05] {Threei} aside of hitting my toe, iron didn't do any good after falling down,

[09:05] {Threei} certainly no slightest attempt to float up

[09:05] {Threei} magoo :)

[09:05] {magoo} so vad..what was verdic on getco rte?

[09:05] {cosmo} use an empty, sealed vessel....

[09:06] {Threei} great if there are shares at the price you want,

[09:06] {Threei} instant fill or kill, speed is next to lightening,

[09:06] {Threei} saves a bunch on pass-through,

[09:07] {nemo} no secondary routing though

[09:07] {Threei} since you'd have to try another route if there are no shares on GETCO, and at the time being there is no routing out on it,

[09:07] {Threei} best way to use it is:

[09:07] {Threei} set hot key for it and for the second route,

[09:08] {Threei} so you can hot both of them in a quick succession if GETCO doesn't get you shares,

[09:08] {Threei} probably forget it if there is a very fast stock you want

[09:09] {Threei} not because it's slow but because you'll lose some time on an attempt

[09:10] {Threei} We will be able to use it to its full advantage when Bear delivers smart route that goes to GETCO first,

[09:10] {Threei} then switches to other routes

[09:12] {magoo} ok

[09:12] {Threei} in case you want to try, I set keys:

[09:12] {Threei} Shift+G to buy on GETCO,

[09:13] {Threei} Shift + B market buy smart route,

[09:13] {Threei} Ctrl+G to sell on GETCO,

[09:13] {Threei} Ctrl+S market sell smart

[09:14] {magoo} what u watching?

[09:14] {magoo} rtk may be a play

[09:14] {Threei} can add anything you want to bid, offer, use other routes etc, as long as you can remember them, but the general idea is:

[09:14] {magoo} CRM too

[09:14] {Threei} all buys start with shift, all sells start with Ctrl

[09:17] {Threei} Fed's Bullard: Antendees of the Jackson Hole symposium are "cautiously optimistic" - TV interiew

[09:17] {Threei} - States that the economy is on track to see positive growth in 3rd and 4th quarters

[09:17] {Threei} - Households continue to be very cautious on spending

[09:18] {Threei} I don't see news RTK

[09:19] {dino} gm all

[09:19] {Threei} dino :)

[09:26] {fernp} good morning everybody

[09:26] {Threei} fern :)

[09:27] {Threei} BAC new high on daily

[09:30] {nemo} aig

[09:30] {Threei} 35 yesterday's high

[09:31] {nemo} 34.99 today

[09:31] {nemo} you take that break of .30 mags?

[09:31] {magoo} no

[09:32] {Threei} Long Setup: BAC .40 break

[09:32] {Threei} if holding above .35

[09:33] {magoo} afterhrs AIG got low as 31.40

[09:36] {bluejet} Vad, is BAC long setup still valid?

[09:36] {Threei} no, but may reestablish itself if consolidates in this range

[09:38] {magoo} AIG hammer

[09:38] {nemo} aig support a .25...maybe

[09:38] {magoo} vad bouncer?

[09:38] {Threei} shrug

[09:39] {Threei} BAC is reestablished, but needs market help

[09:41] {nemo} aig, can you say "volatility"

[09:41] {dino} showing gaps 9438,1628,1018

[09:43] {Threei} Preview: Fed Chairman Bernanke scheduled to speak at the Kansas City Fed's annual symposium at Jackson Hole at 10amET

[09:43] {Threei} **the speech topic is "Reflections on a Year of Crisis." A prepared text is expected but there will be no Q&A.

[09:48] {dino} sm s scsc .80, bstop .11

[09:49] {Threei} AIG... impossible to call, but feels like explosion is coming

[09:49] {_phreeboy} s & p at top of consolidation range between 7/31-8/14, do you take that into account?

[09:49] {nemo} ex, or im

[09:50] {Threei} I can't take that into account until it does something: breaks that level or gets rejected

[09:51] {Threei} simply being there is not much indicative by itself

[09:51] {Threei} it's what it does aroiund the resistance that matters

[09:53] {fernp} HIG pullback, Vad?

[09:54] {Threei} market is still selling

[09:54] {fernp} ty

[09:54] {nemo} bac holding .33 support

[09:56] {nemo} when's the jet setter, ese, get back?

[09:57] {wulff} LVS in .10

[09:57] {Threei} HIG should dive closer to .50 now,

[09:57] {nemo} frickin bac

[09:58] {Threei} see if market puts double bottom is, and try to get HIG as close to .50 as possible

[09:59] {Threei} got away

[10:00] {Threei} *JULY EXISTING HOME SALES: 5.24M V 5.00ME (+7.2% M/M)

[10:00] {Threei} - Prior revised from 4.89M to M

[10:00] {Threei} - Median existing home price $ v $K in June, % m/m, -% y/y.more... (related XHB SPY SHY )

[10:00] {nemo} oh boy

[10:01] {Threei} *FED'S BERNANKE: GLOBAL ECONOMY STARTING TO EMERGE FROM RECESSION; RECOVERY TO BE SLOW AT FIRST

[10:02] {nemo} volumes across the board 2X

[10:03] {bluejet} vad, did you take bac?

[10:03] {Threei} no

[10:04] {bluejet} thx

[10:08] {Threei} need some pullbacks to start outlining setups...

[10:09] {magoo} yea

[10:09] {Threei} this sudden spike out of slow selling is not something playable

[10:09] {nemo} housing report

[10:10] {magoo} c rocket vad

[10:10] {Threei} they all are

[10:11] {Threei} which one are you willing to chase?

[10:12] {Threei} .76 if market greens again

[10:12] {Threei} with stop under .70

[10:12] {dino} zumz

[10:12] {magoo} rimm pullbk boss

[10:13] {Threei} need RIMMunder .60 to get interested

[10:13] {magoo} ok..i been off on it basd

[10:14] {Threei} .80 break is possible on it with stop under .60, but more of a crapshoot

[10:15] {Threei} WFC

[10:15] {Threei} Long Setup: WFC .90 break

[10:15] {Threei} if holding above .85 for hardcore sxcalpers

[10:15] {Threei} above .80 for the rest

[10:16] {fernp} in

[10:16] {magoo} in

[10:17] {Threei} C 1:1

[10:17] {nemo} this is going to be a 200 point day

[10:17] {fernp} ty half out

[10:17] {nemo} the euphoria is nuts

[10:17] {Threei} GETCO worked like charm for C entry

[10:17] {Threei} WFC 1:1 for scalpers

[10:18] {bluejet} I pared BAC but missed WFC. Is it possible to play a sound when there is an alert?

[10:19] {Threei} yes

[10:19] {bluejet} how do I set it up?

[10:19] {Threei} who did that recently guys, could you help out?

[10:20] {Threei} oh wait, you are using mibbit

[10:20] {bluejet} yes

[10:20] {Threei} I sdon't think it's doable on it, gotta use mirc

[10:20] {bluejet} OK. I will take a look. Do I still use the same login on mirc?

[10:21] {nemo} mirc is stand alone software you have to set up

[10:21] {Threei} sure, login info is server-based... server doesn't care how you connect

[10:21] {Threei} it sees you, it kicks you out

[10:22] {Threei} well... unless you know magic words, lol

[10:22] {bluejet} I know the magic words. thanks

[10:23] {Threei} me too... kreks peks pheks, isn't it

[10:23] {Threei} ok, never mind... russian fairy tale :)

[10:23] {_phreeboy} thank you wfc :)

[10:24] {Threei} welcome

[10:24] {Threei} not much but heck... when things just spike like this and refuse to pullback, there are no setups

[10:24] {dino} bjk

[10:24] {Threei} WFC just gave an unusually big delay after another market spike

[10:24] {dino} too thin

[10:25] {Threei} lol

[10:25] {Threei} if saomething is too thin for dino, you know it IS thin

[10:25] {nemo} Anall nathrach, oorfas bethud, dorhiel dienvay

[10:25] {dino} lol, look at it 23.83/24.30; 14k

[10:25] {Threei} we speak arameic here now?

[10:25] {nemo} magic words

[10:25] {nemo} Charm of Making

[10:27] {Threei} did C really hit 1:2 over .85? didn't watch it at the time

[10:27] {magoo} yes

[10:27] {magoo} valid

[10:27] {fernp} yes Vad

[10:27] {Threei} cool... C 1:2 then!

[10:28] {Threei} a bit late but heck...

[10:28] {Threei} consider it an indication of me getting slow in my old age

[10:30] {fernp} HIG pulling back

[10:30] {Threei} market pulled back on decreasing volume

[10:30] {Threei} BAC nice drop

[10:32] {Threei} Long Setup: BAC .45 break if holding .40

[10:34] {fernp} in

[10:36] {wulff} where did you enter C?

[10:36] {nemo} .76

[10:36] {Threei} [10:12] {Threei} .76 if market greens again

[10:36] {Threei} [10:12] {Threei} with stop under .70

[10:41] {wulff} options expire day

[10:43] {wulff} expected more out of HURN...

[10:46] {dino} scsc tighten bstop to .30

[10:47] {dino} cov +.50

[10:52] {dino} rbcn

[10:54] {Threei} no go BAC'

[10:54] {fernp} stopped

[11:00] {wulff} end of day predictions?

[11:00] {Threei} wow... 5 hours in advance?? :)

06[11:01] * magoo slaps laserdave around a bit with a large trout

[11:01] {Threei} magoo

[11:01] {Threei} oh, never mind

[11:01] {Threei} you got it :)

[11:03] {laserdave} thanks gooby

[11:04] {magoo} no prob:)

[11:05] {magoo} quote server vad?

[11:06] {Threei} 7

[11:07] {Threei} shakeout BAC...

[11:07] {Threei} rude and generally unpleasant

[11:11] {magoo} short WFC here

[11:11] {magoo} target .fitty area

[11:11] {nemo} whatch .76 area Mags

[11:11] {magoo} in

[11:11] {magoo} .87

[11:18] {magoo} .96 stop

[11:19] {dino} sm s gbx .60

[11:27] {magoo} not liking wfc here

[11:27] {Threei} {WFC} ???.... you... you....

[11:34] {magoo} out...futes may bounce

[11:35] {nemo} you were right at the VWAP on WFC

[11:36] {magoo} dunno..its consolidating

[11:36] {magoo} could break either way

[11:37] {magoo} but bacon moves up

[11:37] {nemo} yeah the 200 period ma is rising but flattening

[11:37] {magoo} so shoulkd follow bacon

[11:37] {magoo} prob a good long here

[11:42] {nemo} How's the coma vad?

[11:42] {Threei} as always

[11:42] {Threei} pleasant

[11:53] {Threei} it's getting personal between me and BAC

[12:02] {magoo} short wfc ,92

[12:02] {magoo} lets try iot again

[12:02] {magoo} .00 stop

[12:16] {magoo} sigh out

[12:16] {Threei} market is absdolutely flatlined

[12:44] {dino} .

[12:44] {nemo} ?

[12:46] {dino} power surge

[12:49] {fernp} have to go. see you all on monday. have a nice weekend all

[12:49] {dino} magoo booted, can't get back

[12:49] {Threei} have a good one fern

[12:49] {Threei} it's almost over

[12:49] {Threei} just a tad more till Labor day

[12:49] {magoo} back

[12:50] {Threei} he can dino... as soon as he rememners his username

[12:50] {dino} lol

[12:50] {Threei} which you would think he should, after all these years

[12:50] {Threei} but no... lookie here:

[12:50] {Threei} 12:46] * magoo_ has joined #discussions

[12:50] {Threei} -----------

[12:50] {Threei} [12:46] * magoo_ was kicked by ChanServ

[12:51] {nemo} volume is creeping up ever so slightly on spy

[12:51] {dino} roflol

[13:10] {dino} kno, thin

[13:13] {dino} scsc l .00, stop .79

[13:24] {magoo} .

[13:41] {dino} i froze that stock, stop to .95

[13:43] {nemo} if the market weren't due for a bounce I'd say RIMM is dangerously close to a short on the 5 minute

[13:44] {nemo} Now I'm outhinking myself...reminds me of the guy in "Princess Bride" deducing whether his drink was poisoned

[13:44] {nemo} ....he died, by the way

[13:45] {dino} scanners red

[13:46] {dino} lol nemo, i remember that

[13:47] {nemo} "I've seen much worse cases than this"

[13:47] {dino} scsc stopeed

[13:47] {nemo} "Have fun storming the castle

[13:47] {nemo} "My name is Ynego Montoya, you killed my father...prepare to die"

[13:51] {nemo} Mmmhhhhh...it's rough being the only "coupla' sandwiches short of a picnic" type when ese isn't around

[13:54] {dino} igk l .31

06[14:03] * nemo slaps dino around a bit with a large trout

[14:09] {magoo} BACKKKKKKKKKKKKKK

[14:09] {nemo} oh yahoo...

[14:31] {Threei} yawn

[14:32] {Threei} oh boy... my very very first camera:

[14:32] {Threei} http://www.cameramate.com/product_info.php?products_id=4489

[14:38] {nemo} bored, huh?

[14:39] {dino} lol orrf

[14:40] {nemo} Carl Orff? Karmina Burana?

[14:40] {dino} nice spread +2

[14:40] {nemo} your kinda' trade

[14:41] {dino} 100 shares maybe

[14:52] {magoo} vad, we in anything?

[14:52] {nemo} you want me to vad?

[14:52] {Threei} as usual

[14:52] {nemo} coma

[14:52] {Threei} right

[15:20] {Threei} AIG

[15:20] {Threei} bounce candidate

[15:20] {Threei} .10 break

[15:20] {Threei} if holding 33

[15:21] {nemo} in

[15:21] {nemo} out

[15:30] {nemo} rude of aig again

[15:33] {nemo} really rude of aig

[15:33] {Threei} pullback under .10, let's try reentry

[15:34] {wulff} +.11 Rimm

[15:35] {Threei} :)

[15:36] {Threei} first strength from here AIG

[15:40] {Threei} grr

[15:40] {Threei} missed

[15:40] {nemo} were you sitting at .85

[15:40] {Threei} no, but was trying to catch the reversal

[15:41] {Threei} it came with no warning

[15:41] {nemo} yeah no real volume indication

[15:44] {Threei} House Majority Leader Hoyer says public option may have to be dropped in order to pass healthcare reform bill - Politico.com

[15:44] {Threei} - Hoyer still favors the public option, and Speaker Pelosi reiterated yesterday that the bill would not pass without a public option. But today Hoyer says first and foremost the bill must pass: "We believe the public option is a necessary, useful and very important aspect of this, but well have to see because there are many other important aspects of the bill as well."

[15:50] {Threei} 33 break, going to give it last try

[15:55] {Threei} US Administration official forecasting 10 year deficit in line with CBNO projection at $9T

[15:55] {nemo} who the .... is going to finance that!?

[15:56] {Threei} out

[15:56] {Threei} RIMM was the bouncer of choice

[15:56] {Threei} not AIG

[15:56] {nemo} Calling it a day...peace & qiet

[15:56] {Threei} a week too

[15:56] {nemo} yep

[15:56] {Threei} today is friday, right?

[15:56] {Threei} - Administration had previously forecasted $7.1T budget deficit

[15:56] {nemo} Well, in Australia it's Saturday

[15:57] {Threei} ah... reality is setting in

[15:57] {Threei} just 2T miss

[15:57] {Threei} no biggie

[15:57] {Threei} okay guys... Labor day closer and closer

[15:57] {nemo} that's been 6x the average deficit

[15:57] {Threei} have as good weekend

[15:57] {nemo} c ya

[15:58] {Threei} see you all on Monday

[15:59] {dino} later all, have a good weekend

[15:59] {larisa} bye all :)

[15:59] {magoo} yup..ty