Aug 26 2009

Profitable day overall but the major flare occured at the end of it. My constant harping "let's learn to recognize the momentum, it will serve us well in the following months" paid off today when some of room members caught AIG run for a huge gain. Very satisfying.

Session Time: Wed Aug 26 00:00:00 2009

[08:21] {Threei} US) Fed's Fisher: Economic recovery is underway, but businesses will continue to be conservative on hiring - Dallas Morning News

[08:21] {Threei} - The US economy is no longer in free fall, "healing process" has begun.

[08:21] {Threei} - Consumers are more confident, housing is showing a few positive signs.

[08:21] {Threei} - Does not expect rapid recovery, especially in jobs. It will be a while before businesses rehire or increase pay.

[08:30] {Threei} JULY DURABLE GOODS ORDERS: 4.9% V 3.0%E

[08:30] {Threei} DURABLES EX-TRANSPORTATION: 0.8% V 0.9%E

[08:38] {Threei} CPST Receives order for 4 C30 C1D2 Microturbines for Offshore Platforms in Gulf of Mexico

[08:38] {Threei} The total order exceeds $500,000 and is the latest in a series of orders for the low-emission Capstone product that is specially designed for hazardous Class 1, Division 2 environments.

[08:38] {Threei} - The same end-use customer previously purchased 38 C30 microturbines that are installed on manned and unmanned oil platforms throughout the Gulf of Mexico.

[08:38] {Threei} - The latest microturbines will be installed in the first quarter of 2010.

[08:47] {ese} well well well.....the more things change the more they stay the same.......am back from Copenhagen and am now in whistler......just thougt that i would check in on you bunch fo blighters

[08:47] {nemo} hey ese...good trip?

[08:47] {ese} fantastic......want to move there

[08:48] {ese} felt that way the last time too

[08:48] {ese} 3 years ago

[08:49] {Threei} welcome back ese!

[08:49] {ese} hows the market.......from just checking a little over there it seems like it is going sideways a litle

[08:49] {ese} hey vad

[08:50] {ese} good to be back .....almost home

[08:51] {Threei} Whistler is close enough

[08:52] {Threei} market is mostly quiet but there are opportunities every day

[08:54] {ese} alot closer than copenhagen thats for sure

[09:00] {ese} we received an invitation to Prague Checkoslovakia and Austria Vad for next year.......maybe we should go to your home town wherever that is do a show there

[09:00] {Threei} no we should not

[09:01] {Threei} take my word for it :)

[09:01] {cosmo} hmmm

[09:01] {larisa} gm :)

[09:01] {Threei} larisa :)

[09:01] {cosmo} home towns are tat way

[09:01] {cosmo} that

[09:01] {ese} LARIS BABY!!!!

[09:02] {larisa} lol, ese is back :)

[09:02] {ese} Ok will take your word for that vad

[09:02] {ese} only for a bit laris.....things to do with the family today

[09:03] {magoo} morning

[09:03] {Threei} magoo :)

[09:03] {ese} mags!!

[09:03] {ese} Everybody gets the big welcome from me today

[09:03] {magoo} sigh..cut 1k hgsi at 19.30 afterhrs

[09:03] {ese} MAGS!!!!!

[09:05] {fernp} good morning everybody

[09:05] {fernp} welcome home ese

[09:05] {ese} FERN!!!!! tks

[09:06] {magoo} E

[09:06] {magoo} S

[09:06] {magoo} E

[09:06] {magoo} S

[09:06] {magoo} E

[09:06] {ese} now thats cool one upmanship

[09:07] {Threei} fern :)

[09:09] {bluejet} GM

[09:09] {Threei} bluejet :)

[09:13] {Threei} Yesterday 21:46 HGSI Price Target raised to $31 from $18 at Weisel

[09:13] {Threei} 9:03:26 AM

[09:13] {Threei} Human Genome Sciences Inc Shares move higher on the back of continued takeover chatter

[09:13] {Threei} - Takeover chatter first reported in yesterday's session, chatter being repeated by CNBC in today's premarket

[09:15] {magoo} i know i know ..its momo..but lets try TRY to read it ok boss

[09:16] {Threei} sigh

[09:17] {Threei} did I call it yesterday when it gave a setup?

[09:17] {magoo} i did i thought

[09:17] {nemo} there you go thinking again

[09:18] {Threei} 12:14] {Alert} Threei Long Setup: HGSI .50 break

[09:18] {Threei} dino must be a saint...

[09:19] {nemo} that's .30 from here Vad....:)

[09:19] {Threei} ok... go away you two, and call HGSI for each other {G}

[09:19] {nemo} what I do?

[09:20] {larisa} do not yell at each other, I called it :)

06[09:20] * nemo slaps dino around a bit with a large trout

[09:20] {Threei} larisa as always... preventing murder

[09:21] {larisa} [12:07] {larisa} AIG HGSI woke up

[09:21] {larisa} lol

[09:21] {dino} gm all

[09:21] {Threei} morning dino

[09:21] {Threei} we decided you are a saint

[09:21] {larisa} morning dino, take coffee away from magoo :)

[09:22] {nemo} what's this "we" stuff?

[09:22] {Threei} and vodka

[09:22] {ese} DINO!!!!!!

[09:22] {Threei} leave him nice soothing green tea

[09:22] {Threei} with jasmine

[09:23] {dino} dino a saint, lol

[09:23] {cosmo} who's she?

[09:23] {Threei} yes dino... hard earned title, too... to put up with magoo for so long

[09:24] {dino} drinking helps

[09:25] {Threei} HURN Citadel LP reports new stake of 5.7% as of 8/19 - filing

[09:25] {Threei} - this makes Citadel the 2nd largest holder

[09:27] {nemo} [09:23] {&Threei} yes dino... hard earned title, too... to put up with magoo for so long...Its STOCKHOLM SYNDROME!

[09:28] {dino} ok, aded 3rd system last night, dedicated to trades

[09:29] {dptl} good morning

[09:30] {Threei} dp :)

[09:31] {Threei} HGSI

[09:31] {Threei} bounce

[09:31] {Threei} .60 break

[09:31] {Threei} stop under .45

[09:31] {Threei} half lot

[09:32] {Threei} invalidated

[09:34] {Threei} .20 was another trigger but I couldn't type in time

[09:34] {Threei} oh well

[09:34] {nemo} neural implant

[09:35] {nemo} then again, what else miht come out of your mind could be scary

[09:36] {magoo} what a nasty drop HG

[09:36] {Threei} sheesh

[09:36] {nemo} yeah

[09:36] {magoo} soihgh

[09:36] {nemo} gaelic again?

[09:37] {nemo} geez, coulda' gone home already

[09:37] {fernp} INTC long .26

[09:38] {magoo} AIG vad?

[09:38] {Threei} AIG .65 break worth a try

[09:39] {fernp} 1:1 INTC

[09:39] {dino} cm

[09:39] {nemo} hgsi pullback range?

[09:42] {Threei} AIG, watching for double bottom

[09:43] {Threei} .60 break if holdiog .50

[09:44] {Threei} 1:1, half out

[09:44] {fernp} out here ty

[09:45] {Threei} scalpers win

[09:46] {nemo} $ up strong

[09:50] {Threei} HGSI

[09:50] {Threei} sharp leg down is likely now

[09:50] {Threei} entry should be somewhere around .50-.60

[09:53] {Threei} SQNM

[09:53] {Threei} no news

[09:55] {Threei} must be some rumor somewhere

[09:55] {Threei} nice momo

[09:57] {magoo} HIG vad look

[09:57] {Threei} Long Setup: SQNM 50 break

[09:57] {Threei} if stays above .40

[09:57] {Threei} HIG .15 long

[09:57] {Threei} stop under 22

[09:58] {nemo} too fast

[09:58] {magoo} in .12

[09:58] {nemo} hig or hgsi

[09:58] {Threei} ??

[09:58] {Threei} [09:57] {magoo} HIG vad look

[09:58] {Threei} [09:57] {Threei} HIG .15 long

[09:58] {Threei} [09:57] {Threei} stop under 22

[09:58] {nemo} look at the prices between the two and what you type

[09:59] {nemo} oh, looked away

[09:59] {Threei} how can it be construed as HGSI?

[09:59] {nemo} your typing and the closeness of their stock prices

[10:00] {Threei} JULY NEW HOME SALES: 433K V 390KE (+9.6% M/M

[10:00] {Threei} prior revised from 384K to 395K

[10:01] {magoo} out HIG .37

[10:01] {magoo} ty vad

[10:02] {nemo} interesting, that home stuff was good news...market not reacting all that strongly

[10:04] {KSystems} helloooooooooooooooo

[10:04] {Threei} KS!

[10:04] {nemo} Tag

[10:04] {magoo} KS:)

[10:05] {nemo} sollten wir auf deutsch reden, so Vad aufgepisst werden sein?

[10:05] {dino} intu

[10:05] {dino} sm l .50

[10:06] {Threei} NYMX NX-1207 shows major effect on Liver Cancer in animal study

[10:06] {Threei} - NX-1207 has been shown to repeatedly produce strongly positive results when given to animals with ... (4.75, +0.46, 10.72%) more...

[10:07] {dino} ggc

[10:07] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET

[10:07] {Threei} **consensus expectations:

[10:07] {Threei} Crude: +1.2Me

[10:07] {Threei} Gasoline: -1.7Me

[10:07] {Threei} Distillate: +400Ke

[10:08] {Threei} SQNM... really acts like momo in the making

[10:08] {magoo} ah..missed

[10:08] {Threei} it gives sharp pullbacks

[10:08] {Threei} watch it

[10:12] {Threei} HGSI

[10:12] {Threei} opps... late

[10:13] {Threei} things are furiously fast

[10:15] {Threei} DNDN Strength attributed to renewed takeover chatter circulating (25.00, +0.88, 3.65%)

[10:16] {fernp} BAC breaking hod

[10:18] {Threei} HGSI... .50 break

[10:18] {Threei} risky as hell

[10:18] {Threei} pullback is better way to enter but impossible to call

[10:21] {wulff} big caps are all in tight range

[10:25] {Threei} NYMX...

[10:25] {Threei} usually POS but gets sewrious attention today

[10:30] {Threei} DOE CRUDE: +128K V -1.8ME

[10:30] {Threei} GASOLINE: -1.7M V -1.2ME; DISTILLATE: +767K V +200KE

[10:30] {Threei} VPHM Hearing shares moving higher on the back of takeover chatter

[10:30] {Threei} - Hearing Teva rumored as interested party

[10:30] {Threei} a bit too many of those lately eh?

[10:33] {nemo} market taking that oil report as bullish

[10:38] {Threei} NYMX, mama mia

[10:39] {Threei} USGS reports magnitude 6.0 quake in southern Alaska

[10:40] {Threei} let's make bets

[10:40] {Threei} 7?

[10:40] {Threei} 8?

[10:40] {Threei} 9?

[10:43] {dino} intu stopped flat

[10:43] {magoo} out .99 YTY vad

[10:43] {magoo} 2k

[10:43] {Threei} why was I so sure of that...

[10:43] {Threei} from?

[10:44] {magoo} .50

[10:44] {magoo} great exit

[10:44] {magoo} until it porints 9 he he

[10:45] {Threei} take a look at AIG guys

[10:46] {Threei} see this many times tried resistance at .80?

[10:46] {Threei} break of it is a long signal, watch for range to establish

[10:47] {Threei} if loses .60, temporarily invalidated, but can re-establish itsaelf

[10:47] {Threei} may take a while so I describe the trading idea in advance

[10:47] {nemo} if loses .55...short?

[10:52] {Threei} not for me

[10:54] {ese} wow....i haven't been away for that long but man you loose your feel for this.......will be treading lightly if at all

[10:55] {magoo} actually ese..today is hectic

[10:55] {magoo} furious start

[10:56] {ese} ya....i sorta got that.....watched and thought.......hmmmm could do anything......was strange feeling

[10:56] {ese} couldn't

[10:58] {Threei} Palm, Inc Pali Research comments on sales trends for Pre handsets (timing uncertain)

[10:58] {Threei} - Pali says it estimates that Sprint has sold about 70,000 Palm Pre's since August 7th, indicating that Pre sales are holding in at the mid 20,000 range per week.

[11:01] {magoo} RMBS vad..olook

[11:02] {Threei} pullback into .50, I'd be interested

[11:02] {Threei} no fresh news

[11:03] {nemo} aig creeping, but I can barely see the volume on my chart ...lol

[11:08] {Threei} creeping down you mean

[11:09] {nemo} not at 11:03 it wasn't

[11:09] {Threei} oh... my intervals between coma/wakeups increase... sorry

06[11:10] * nemo slaps Threei around a bit with a large prescription of black beauties

[11:10] {Threei} you say something, I fall asleep, wake up, answer... without realizing there was 5 min inbetween

[11:10] {Threei} RMBS

[11:10] {Threei} becomes interestying for bounce when market doesa

[11:11] {Threei} .50 break obvious setup

[11:11] {nemo} stop of .30 to avoid shakeout?

[11:12] {Threei} way too wide for me

[11:14] {patel} hello everyone

[11:15] {patel} still on vacation but stopped in to trade today

[11:15] {nemo} vacationing patella

[11:15] {nemo} ahhhhh

[11:15] {nemo} we're in a coma

[11:15] {patel} oh come on nemo

[11:15] {patel} the whole time i been gone

[11:15] {patel} you all been trading good

[11:15] {nemo} some better than others

[11:16] {dino} sm s wsm .50

[11:18] {Threei} hi patel

[11:18] {nemo} see...vad just regained consciousness

[11:18] {Threei} don't listen to nemo, his coma takes permanent root

[11:18] {Threei} while I am waking up now and then

[11:19] {nemo} pot calling the kettle black

[11:19] {patel} yes nice nice

[11:22] {patel} we watchving RMBS right now

[11:22] {nemo} kinda' just dropped to R3

[11:22] {patel} yup i just saw that

[11:22] {nemo} was gonna' be break of .50/.40 stop, w market help...no market help

[11:38] {dino} lnn

[11:39] {dino} cov wsm .15, +.35

[11:41] {dino} lnn gap fill

[11:50] {dino} wsm sm l .25

[11:52] {dino} pwrd sm l .15

[11:54] {dino} acm

[11:56] {dino} lnn sm l .05

[12:05] {wulff} +1.6 AAPL

06[12:06] * nemo slaps wulff around a bit with a large admonishment for indecent profits

06[12:21] * magoo slaps nemo around a bit with a large trout

06[12:21] * magoo slaps patience around a bit with a large trout

06[12:21] * magoo slaps wulff around a bit with a large trout

06[12:23] * magoo slaps laserdave around a bit with a large trout

06[12:23] * magoo slaps laserdave around a bit with a large trout

06[12:23] * magoo slaps laserdave around a bit with a large trout

[12:23] {larisa} finger stuck?

[12:25] {Threei} no, expression of special passion and affection

[12:25] {magoo} 6thats it

[12:25] {magoo} my typing has reached a new platuea of debotchery...i hit a numeral in there now

[12:26] {magoo} [12:25] {magoo} 6thats it

[12:26] {laserdave} thansk magoober

[12:26] {magoo} where u been?

[12:28] {Threei} lol mags

[12:31] {dino} .

[12:32] {dino} hgsi

[12:32] {Threei} HGSI Ticking lower on chatter GSK has denied interest in acquiring company

[12:32] {Threei} - Note: takeover chatter has been circulating in the name for the last two sessions, with GSK rumor... (21.46, +2.25, 11.71%) more... (related GSK )

[12:33] {Threei} that's gotta hurt

[12:41] {Threei} hurt it does

[12:42] {Threei} American Hospital Assn: US hospitals to gain $16B over the next decade from healthcare reform due to expanded coverage (related IYH )

[12:42] {Threei} ummm

[12:43] {Threei} from who?

[12:46] {dino} wsm to b/e

[12:50] {dino} stopped

[12:58] {dino} wsm l .14

[13:11] {Threei} NI) Nigerian Oil Min: Satisfied with oil prices of $70-80

[13:11] {Threei} oh good

[13:14] {dino} ouldn't want him unhappy

[13:23] {dino} kirk drop

[13:24] {Threei} (US) Rep. Kucinich (D) has reportedly asked health insurance CEOs to discuss denial of client claims by their companies

[13:24] {Threei} - A Congressional source says that Kucinich has requested explanations from the CEOs of Aetna, Wellpoint, Cigna and Humana.

[13:25] {dptl} Vad,would you short rmbs .20 break?

[13:26] {Threei} if stays under .30, and market drops...

[13:26] {dptl} ok ty

[13:29] {dino} stop to .25 wsm

[13:29] {dino} out +.11

[13:33] {Threei} Fed's Lockhart: too soon to contemplate raising rates; exit strategy for exit from asset purchase programs must be carefully communicated to prevent distortions - Q&A with reporters

[13:33] {Threei} - sees Fed's balance sheet starting to shrink in 2010.

[13:33] {Threei} - says he does not rule out raising MBS purchases but not leaning in that direction.

[13:33] {Threei} - notes recent housing data has been encouraging, has 'every hope' that the housing market has bottomed.

[13:33] {Threei} - expects more bank failures.

[13:33] {Threei} MTXX Ticking higher; hearing company affirming ongoing talks with FDA over Zicam recall

[13:33] {Threei} - MTXX is holding its annual shareholder meeting today (5.96, -0.23, -3.72%)

[13:38] {dino} isle l ,24

[13:56] {dino} kirk l .37

[14:31] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[14:31] {Threei} I agree

[14:31] {Threei} except may be for the 5th and 8th Z

[14:32] {Threei} those look dubious to me'

[14:32] {dino} what did you call me!, lol

[14:33] {dino} air pockets today\

[14:35] {dino} atni

[14:56] {Threei} Long Setup: AIG .80 break

[14:56] {Threei} if stays above .70

[15:01] {Threei} shapes up very nicely, just need market help

06[15:04] * Threei kicks AIG in the rear

[15:07] {magoo} NO WAY TOO CATCH THAT

[15:07] {Threei} you weren't in aggressively??

[15:07] {Threei} YOU???

[15:07] {Threei} I was pretty sure you were in at .76 at least, lol

[15:07] {Threei} 1:1

[15:08] {dino} gj

[15:08] {jmb} Thanks Vad

[15:08] {Threei} :)

[15:12] {Threei} dino... if I say 1:3, will I piss magoo off to no limit and please you in doing so?

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

[15:14] {dino} don't say it vad

[15:14] {Threei} okay... wanted to do you a favor {G}

[15:15] {dino} :)

[15:17] {Threei} that was perfect cup and handle

[15:17] {Threei} sorry dino, I just do it for my own enjoyment

[15:18] {dino} no worries

[15:21] {dino} bont

[15:23] {wulff} the NASD is frozen

[15:24] {Threei} hmm?

[15:24] {wulff} i.e. not moving very far

[15:25] {dino} unplugged

[15:26] {Threei} ok... I thought you mean quotes are broken

[15:28] {wulff} you like AIG .10 scalp?

[15:29] {Threei} toughie...

[15:29] {Threei} if market starts big uoward move, of course.... bu I'd rather stay with pullback

[15:29] {wulff} bit too close to close

[15:31] {wulff} slo mo with no momo

[15:33] {dino} blahhhhhhhh

[15:44] {wulff} should have taken .10

[15:44] {Threei} yeah

[15:45] {wulff} crap

[15:45] {Threei} something's happening there

[15:45] {Threei} that's not a techgnical move

[15:45] {wulff} shorts

[15:46] {Threei} no

[15:46] {Threei} against market, too big

[15:47] {Threei} something happens somewhere of which we are not informed yet

[15:47] {dino} yadda yadda yadda

[15:47] {dino} losing my mind

[15:48] {Threei} maybe something from FDIC

[15:48] {Threei} FDIC suggests extension of transaction account guarantee for banks; a rule looking for input on impact of off balance sheet accounting change

[15:48] {Threei} - Suggest rule that would call for information on whether or not to phase in a capital impact of accounting change

[15:48] {Threei} - FDIC's Bair: It is important to have alternative source of capital to assist minimizing losses to the Deposit Insurance fund as banks industry still faces serious challenges; prospects for future growth have improved.

[15:48] {Threei} - FDIC staff suggests 10% Tier 1 common equity capital ratio vs 15% prior

[15:48] {Threei} - Note: The FDIC is meeting today on a variety of issues including a policy on private equity investments in failed banks; guidelines under consideration considered less stringent than prior rules according to the OCC

[15:49] {larisa} crazy stock

[15:50] {larisa} over 35 shorts got nervous

[15:50] {Threei} no kidding

[15:50] {Threei} such resistance on daily

[15:51] {dino} so ease up on cap. req.

[15:52] {wulff} .10 looks good now

[15:52] {larisa} lol

[15:52] {Threei} rofl

[15:52] {Threei} all finnies are moving

[15:53] {Threei} none is so impressive as AIG though

[15:53] {magoo} long AIG 324

[15:53] {magoo} 34

[15:54] {larisa} I looked at vads call at 33.80 break and said to myself : no way this dead meat will do it :) did you feel tension vad or just liked the chart ?

[15:54] {Threei} liked the chart

[15:54] {Threei} there was nothing even close to this energy at the moment

[15:54] {dino} all dayer out pwrd .45, +.30

[15:54] {larisa} because I was looking at it and felt nofing :)

[15:54] {larisa} right

[15:55] {Threei} scalped .88 - 56.10

[15:55] {Threei} 36.10

[15:56] {dino} month end games

[15:56] {Threei} jeez

[15:56] {dino} aig magoo long 34

[15:57] {Threei} ok... that was my fault entirely for not saying "we have momo"

[15:57] {Threei} the pace was totally there

[15:57] {Threei} whatever.. profitable day

[15:57] {Threei} and plenty more to come

[15:57] {dino} he's up 10k

[15:57] {dino} pig

[15:57] {larisa} lol

06[15:58] * Threei slaps dino around a bit with a large kosher salmon

[15:58] {Threei} 38 is coming

[15:59] {Threei} 38.05 high

[15:59] {magoo} 3q5][kteak'pk'f'mfssf'

[15:59] {magoo} OPUTR #* BUX

[15:59] {magoo} 12k

[15:59] {magoo} NO SHIT

[15:59] {Threei} wtg mags

[15:59] {Threei} fantastic job

[15:59] {dino} out lnn .96, -.09

[15:59] {magoo} i twasso pissed at missuing your call

[16:00] {Threei} pays to identify those momos eh?

[16:00] {magoo} i took 34 agressive BOOM

[16:00] {magoo} let winners win

[16:00] {Threei} okay guys

[16:00] {Threei} thank you all

[16:00] {magoo} but your heckling got me motivated :)

[16:00] {Threei} have a good evening

[16:00] {Threei} mags, feel free to send me 30%

[16:01] {Threei} and fear not, I am willing to heckle you eery day

[16:01] {larisa} bye all :)

[16:01] {dptl} good evening all

[16:02] {magoo} ok

[16:02] {magoo} :)

[16:03] {dino} he's driving me nuts

[16:06] {dino} ok, thx all, up, but light, anyway, tee time in 20