Sep 30 2009

Freeport, Bahamas conference - January 2010

Vad's sessions - 2 days, including live trading

Another slow but profitable day. Most plays were on usual suspects. Even such normally balls of fire as AIG took literally hours to resolve some of plays.

Session Time: Sep 30 00:00:00 2009

[07:57] {magoo} wRLIRWILHRSHOIRHJ

06[07:59] * nemo slaps magoo around a bit with a large aslewgowiloll!!!!

[08:03] {KSystems} morning

[08:09] {Threei} SVA Granted Second Order of H1N1 Vaccine from Chinese Central Government

[08:09] {Threei} - Announced today that Sinovac has received its second purchase order for its H1N1 vaccine

[08:10] {Threei} - The 3 million dose purchase order announced today is in addition to the initial order for 3.3 million doses received from the Ministry of Industry and Information Technology of China on September 4, 2009. Sinovac is expected to complete the delivery of 4.5 million doses of PANFLU.1 to the Chinese central government by the end of October.

[08:11] {Threei} BLTXX Baltic Dry Bulk rises approx 1.5%

[08:14] {ese} good morning.......been riding my bike alot lately......am in better shape....tend to get up earlier

[08:14] {nemo} dude

[08:14] {Threei} ese :)

[08:14] {Threei} Preview: Q2 GDP Price Index and Core PCE Q/Q due at 8:30 am

[08:14] {Threei} Consensus expectations:

[08:14] {Threei} - GDP Price Index: 0.0%e v 0.0% Q2

[08:14] {ese} dude

[08:14] {Threei} Preview: Q2 GDP Annualized and Personal Consumption due at 8:30 am

[08:14] {Threei} - GDP Annualized: -1.2%e v -1.0% Q2

[08:15] {Threei} never heard any

[08:15] {Threei} sorry, wring window

[08:15] {Threei} ADP SEPT EMPLOYMENT CHANGE: -254K V -200KE

[08:15] {nemo} whoa two bad reports

[08:16] {Threei} two?

[08:17] {ese} 2 or 3 yesterday as well weren't there

[08:20] {nemo} unemployment and gdp

[08:22] {Threei} ummm

[08:22] {Threei} gdp is not out yet

[08:23] {Threei} that's umm, PREview

[08:23] {nemo} oh...misread

[08:23] {nemo} I thought you were using the prescience of your 3rd eye

[08:23] {Threei} stay within 2-syllable words pls

[08:24] {Threei} don't make me look them up

[08:24] {Threei} tree good. fire bad

[08:24] {Threei} see?

[08:24] {nemo} can't think of a one syllable word for that

[08:24] {nemo} foresight? is that o.k.

[08:24] {nemo} I know it's two syllables but...fairly common

[08:25] {Threei} previse?

[08:26] {Threei} ese, you interested in DRYS?

[08:26] {Threei} Baltic dry index upticked today

[08:26] {nemo} 5 minute chart interesting

[08:26] {Threei} and DRYS started green days while index was still going down

[08:28] {ese} hi vad yup

[08:29] {ese} was in and out of it yesterday .37 to .96

[08:30] {ese} 60k of it

[08:30] {Threei} GDP's coming in econds

[08:30] {Threei} Q2 FINAL GDP Q/Q ANNUALIZED: -0.7% V -1.2%E; PERSONAL CONSUMPTION: -0.9% V -1.0%E

[08:30] {Threei} *Q2 GDP PRICE INDEX: 0.0% V 0.0%E; CORE PCE Q/Q: 2.0% V 2.0%E (related SHY TLT EUR/USD SPY )

[08:30] {ese} didn't want to stick around because of market topping out factor.....who knows where this market is going to go.....was happy wit +.59

[08:31] {Threei} I'll say

[08:31] {Threei} slow narrow day

[08:33] {ese} at some point in time we gotta be heading down......

[08:33] {Threei} or not

[08:33] {nemo} in the end, we're all dead

[08:33] {ese} don't know about you but i'm uneasy right now

[08:33] {Threei} the notion that market has reversed its uoptrend seems to be too widespread

[08:33] {ese} about market direction that is........

[08:34] {ese} for sure.....alot of my trades are 50/50 at this point

[08:34] {magoo} any read NKE vad?

[08:35] {Threei} no... too big gap and too thin stock

[08:36] {ese} either i'm doing something wrong....or...........or.....or what is the question?

[08:37] {ese} follow through on my trades anyway seem to be hit or miss lately....

[08:38] {ese} can only attribute this(or so i'm thinkin) to uncertainly in market......

[08:40] {ese} have been sizing down to be on the safe side......although i was pretty sure about drys yesterday so was comforable with it

[08:53] {ese} theres one i haven't seen on the radar for a while HOKU

[08:53] {Threei} yeah, had news yesterday

[08:54] {Threei} Hoku Scientific Granted $50M initial debt financing by Tianwei, issuing Tianwei 33.3M common shares (60% of shares outstanding)

[08:54] {Threei} - Hoku will also grant Tianwei warrants to purchase an additional 10 million shares of Hoku's common stock at a price per share equal to $2.52. Provides for a majority investment in Hoku by Tianwei and debt financing by Tianwei and China Construction Bank for the construction and development of Hoku's polysilicon production facility in Pocatello, Idaho.

[08:54] {Threei} - The transaction will involve the conversion of $50 million of an aggregate of $79 million in secured prepayments

[08:54] {Threei} - HOKU to continue to trade on NASDAQ.

[08:54] {magoo} PZE vad news?

[08:55] {Threei} not that I see

[08:55] {Threei} last news on it is May 7, lol

[08:55] {magoo} up 6 +

[08:55] {Threei} don't know why but not picked up by my news supply

[08:56] {magoo} crap

[08:56] {magoo} missed it

[08:56] {ese} whoaa what is with that one mags?

[08:56] {magoo} 3 dollars since i asked

[08:57] {magoo} 6 bux to 16\

[08:57] {Threei} LVS Buckingham reiterates Strong Buy rating, price target $21 (17.37, 0.00, 0.00%)

[08:58] {ese} major discovery by this company or something

[08:58] {nemo} they're owned by Petrobras

[08:59] {Threei} Petrobras Energia Participaciones SA ADR

[08:59] {nemo} yep

[08:59] {nemo} was a favorite of Cramer's

[08:59] {Threei} shortable

[09:00] {fernp} good morning everybody

[09:00] {Threei} fern :)

[09:00] {cosmo} hmmm...petrobras...don't they have some wells around where that earthquake just happened?

[09:01] {nemo} so maybe it forced a Jed Clampett?

[09:01] {cosmo} or Dr. Evil

[09:02] {cosmo} nah .... gotta go back to bed...

[09:02] {Threei} PZE Moves higher as today is the closing date for a merger between PZE and Petrobras Energia SA (Buenos Aires PESA)

[09:02] {Threei} - PZE to be the surviving entity

[09:03] {Threei} okay... so it's not an actual news of some event, it's ratjer math of a merger,

[09:04] {Threei} but then again, this kind of things is well known in advance

[09:04] {Threei} why the sudden explosion right now

[09:04] {Threei} shrug

[09:04] {cosmo} TSTR

[09:05] {cosmo} ... w AT&T

[09:05] {ese} so that those in the know......can make a ton of cash.......and we not in the know.....won't!

[09:05] {Threei} it was announced a year ago

[09:05] {Threei} as far as I can see, there is no any new developments

[09:06] {cosmo} k

[09:06] {ese} ok

[09:08] {Threei} lol, it's like everyone forgot about it, and this morning all suddenly looked in their calendars and found a note made a year ago

[09:09] {nemo} looks like RIMM is up of the mat

[09:09] {ese} was just lookin at that.......tempting

[09:09] {ese} mags are you thinking about rimm again?

[09:10] {nemo} he might be thinking about deer

[09:10] {larisa} gm :)

[09:10] {nemo} hi lari!!!

[09:10] {ese} laris

[09:10] {Threei} larisa :)

[09:11] {larisa} :)

[09:11] {dino} gm all

[09:12] {larisa} gm dino :)

[09:12] {Threei} dino :)

[09:13] {dino} :)\

[09:13] {ese} dino

[09:13] {nemo} dino :)

[09:13] {cosmo} TSTR pre mkt spike high = 2.82 fyi

[09:15] {cosmo} .....to bring to

[09:15] {cosmo} market the first fully integrated satellite cellular smartphone.

[09:15] {cosmo} ... w AT&T

[09:15] {cosmo} fwiw

[09:15] {lasertrev} gm

[09:16] {nemo} LT :)

[09:16] {Threei} trev :)

[09:19] {ese} that one should go a bit today cos

[09:19] {cosmo} ... as you wish...

[09:23] {dptl} good morning all

[09:23] {ese} dp

[09:24] {ese} opps sorry dddddddddppppppppppp!

[09:24] {dptl} :)

[09:24] {Threei} dp:)

[09:25] {cosmo} TSTR should hold 2.6

[09:26] {Threei} DRYS

[09:26] {Threei} 7

[09:26] {nemo} aig interesting on 5 minute

[09:28] {magoo} rimm too

[09:34] {Threei} Long Setup: TSTR 2.95 break

[09:34] {Threei} risky and volatile

[09:34] {Threei} stop under .80

[09:34] {Threei} invalidated

[09:35] {Threei} Preview: Sept Chicago Purchasing Managers Index due out at 9:45amET

[09:35] {Threei} **consensus expectations: 52.0e v 50.0 prior (Aug reading of 50 was the highest since Sept 2008

[09:36] {Threei} ICE Hearing early strength being partially attributed to takeover chatter (96.89, +1.85, 1.95%)

[09:36] {Threei} LVS, watching for bounce

[09:37] {Threei} not ready yet

[09:39] {Threei} TSATR modification

[09:39] {magoo} f'in HIG

[09:39] {Threei} .90 break long

[09:39] {cosmo} tsata?

[09:40] {Threei} LVS

[09:40] {Threei} .20 break long

[09:40] {Threei} stop under .10

[09:41] {magoo} numbers 9:45 and 10:30 i beelieve

[09:42] {Threei} no go LVS

[09:42] {Threei} and TSTR is invalidated again

[09:42] {Threei} let's wait out PMI

[09:43] {cosmo} i'll go walk the dogs ...see if that helps..

[09:45] {Threei} SEPT CHICAGO PURCHASING MANAGERS INDEX: 46.1 V 52E

[09:45] {Threei} **sub-indices:

[09:45] {Threei} - Prices Paid: 51.3 v 50.0 last

[09:45] {Threei} - New Orders: 46.3 v 52.5 last

[09:45] {Threei} - Employment: 38.8 v 38.7 last

[09:45] {Threei} - Inventories: 38.9 v 27.5 last

[09:45] {Threei} - Supplier Deliveries: 49.3 v 54.6 last

[09:45] {Threei} - Production: 47.2 v 52.9 last

[09:45] {Threei} - Order Backlogs: 36.7 v 45.8 last

[09:46] {Threei} Long Setup: RIMM .50 break

[09:46] {Threei} if holding above .35

[09:47] {Threei} invaidated, needless to say

[09:48] {Threei} mags, feeling better about HIG?? :)

[09:48] {magoo} its such a f'er

[09:48] {Threei} .50 break long HIG

[09:48] {Threei} if holding .40

[09:49] {nemo} down elevator for awhile

[09:49] {Threei} .40 if holding .30

[09:49] {Threei} usual ranges for bounce

[09:49] {Threei} PZE Nasdaq states that it is currently investigating potentially erroneous trades (17.19, +10.79, 168.59%)

[09:49] {Threei} great

[09:51] {magoo} why /its still 17

[09:51] {Threei} in HIG

[09:51] {Threei} stop under .10

[09:52] {Threei} 1:1

[09:52] {Threei} half out .33

[09:52] {Threei} scalpers get out

[09:52] {Threei} 1:2

[09:52] {Threei} 1/4 more out

[09:53] {Threei} out in full, 1:3

[09:53] {magoo} out .48 TY

[09:54] {Threei} missed LVS bounce

[09:54] {magoo} hit .22

[09:54] {Threei} 09:48] {Threei} mags, feeling better about HIG?? :)

[09:54] {magoo} RIMM?

[09:54] {magoo} AIG too vad, possibly

[09:54] {Threei} what RIMM... bounced already

[09:55] {Threei} kind of hard to manage HIG and RIMM at the same time

[09:55] {magoo} remain calm..just posting possibles

[09:55] {larisa} lol

[09:55] {Threei} AIG retests low

[09:55] {Threei} HIG remains stronger

[09:56] {magoo} looks lowerr

[09:56] {Threei} HIG would be my choice again for the next bounce

[09:57] {Threei} same setup

[09:57] {magoo} UGLY so far out there

[09:57] {Threei} lost .10, invalidated

[09:57] {nemo} market still dropping

[09:58] {Threei} .10 break if holding 27

[09:58] {magoo} jesus no way

[09:58] {magoo} i went for .08

[09:58] {magoo} nissed

[09:58] {Threei} second chance

[09:59] {fernp} missed

[09:59] {Threei} ok, let it go

[09:59] {Threei} no third chance entry

[10:00] {magoo} if i miss..its tough..i went for 08

[10:00] {Threei} don't enter here

[10:00] {magoo} a number coming

[10:00] {nemo} oil

[10:01] {Threei} NAVI Announces Collaboration in the Microsoft WebsiteSpark Program (2.11, +0.05, 2.43%) (related MSFT )

[10:02] {dino} stec gap fill from fri

[10:06] {Threei} Short Setup: RIMM .15

[10:06] {Threei} if stays below .25

[10:06] {magoo} oy im long .13

[10:06] {ese} dino?....would you say that stec has sufficiently filled that gap from 07/15.....i'm looking to go long with this one

[10:11] {cosmo} HOKU

[10:12] {cosmo} tests hod

[10:13] {cosmo} seems happy

[10:13] {Threei} killer volaitlity

[10:13] {Threei} not a reakout stock

[10:13] {Threei} pullback entry, maybe... breakout, no way

[10:13] {magoo} out rimm .31

[10:13] {magoo} sigh

[10:13] {magoo} relief

[10:14] {fernp} FMER 19 break could be interesting

[10:14] {Threei} fmer

[10:14] {Threei} looked at it a while ago

[10:14] {Threei} be careful with it

[10:14] {Threei} can widen spread suddenly

[10:15] {fernp} ok ty

[10:15] {Threei} chart's nice

[10:16] {dino} es, yes imo

[10:17] {Threei} AIG

[10:17] {Threei} should be bounce zone if holding .50

[10:18] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET

[10:18] {Threei} **consensus expectations:

[10:18] {Threei} Crude: +500Ke

[10:18] {Threei} Gasoline: +1.2Me

[10:18] {Threei} Distillate: +1.2Me

[10:19] {ese} tks dino

[10:19] {Threei} US) House Armed Services Chairman Skelton: US planning accelerated troop withdrawal from Iraq; to withdraw 11 brigades by the end of 2009

[10:19] {magoo} server vad??

[10:19] {Threei} 11

[10:19] {magoo} ty

[10:21] {dino} and you wonder why iran is acting up

[10:21] {nemo} plus we're getting throttled in Afghanistan

[10:22] {Threei} AIG, couldn't nail entry more precisely

[10:22] {Threei} oh well

[10:22] {magoo} i took .75

[10:22] {Threei} a bit too high from .50 support

[10:22] {magoo} not luvin it

[10:22] {Threei} no, I wouldn't either

[10:23] {Threei} you know what... let's make it strict play from here

[10:23] {Threei} move stop to under .60

[10:23] {Threei} if it fails it fails

[10:23] {Threei} and see if you get a spike over .90 for exit

[10:23] {Threei} market is very shaky here

[10:24] {nemo} lvs testing lows

[10:24] {Threei} HIG too

[10:24] {Threei} new lows are likelty here

[10:24] {Threei} let's sit it out

[10:25] {Threei} (US) Pres Obama to spend approx $5B as part of job creation projects

[10:25] {nemo} Yeah, if oil builds are excessive this could really tank

[10:25] {Threei} aren';t you glad he has deep pockets

[10:25] {nemo} I don't have very many more pounds of flesh to contribute

[10:25] {Threei} sorry nemo, your logic escapes me

[10:26] {nemo} which logic

[10:26] {nemo} oil

[10:26] {Threei} excessive oil duils - bad for the market?

[10:26] {Threei} builds

[10:26] {Threei} mags... glad we tightened stop?

[10:26] {Threei} don't enter that far from support next time, deal?

[10:27] {nemo} well if the Chicago numbers tanked the market, might further reinforcement of energy builds hammer it harder?

[10:27] {magoo} yea

[10:27] {Threei} chicago numbers were bad

[10:27] {Threei} how a lot of oil in reserves is bad?

[10:27] {nemo} means energy not being used...takes energy to run economy

[10:27] {nemo} might just confirm and do nothing

[10:27] {Threei} that is if you look backward

[10:27] {nemo} or...

[10:28] {Threei} if you look forward, it's an oil price killer

[10:28] {Threei} which is good

[10:28] {nemo} for the consumer, yes

[10:28] {Threei} which way market choses to look at it - totally mood dependent

[10:28] {Threei} right, and consumer is major concern

[10:28] {Threei} but anyway, we will know very soon

[10:29] {nemo} waiting with baited breath

[10:29] {nemo} wonder where that saying came from?

[10:29] {Threei} 30 seconds

[10:30] {nemo} the stress is unbelievable

[10:30] {Threei} DOE CRUDE: 2.8M V +500KE

[10:30] {Threei} GASOLINE: -1.66MV +1.2ME; DISTILLATE: +323K V +1.2ME

[10:30] {Threei} mix

[10:31] {Threei} larisa.. you still insist we don't kick nemo out?

[10:31] {nemo} where's diesel in that mix...distillates?

[10:32] {larisa} you have to love all your children

[10:32] {Threei} oh great... thanks for giving me a visual;

[10:32] {nemo} yeah...I'll be Abraham's sacrifice

[10:33] {nemo} did I tell you my real name is "Damien"

[10:33] {Threei} demon seed

[10:33] {Threei} ok... saved by the kind girl again, but keep in mind:

[10:33] {Threei} we have 4 ladies in the room now,

[10:33] {Threei} so as Banderas said in Four Rooms,

[10:33] {Threei} Don't misbehave!

[10:34] {nemo} me....never

[10:35] {Threei} can't get a feel here, bounce or stall

[10:35] {nemo} not that I'm qualified, but lookin at the spy and the Q's you have to wonder if they're quasi-bear flags

[10:36] {Threei} this is my feeling

[10:36] {Threei} but if NQ breaks over 1700 here, sizeable bounce is likely to start

[10:37] {Threei} ok, who is in the mood to start trying for bounce,

[10:37] {Threei} Long Setup: LVS .80 break

[10:37] {Threei} if stays above .70

[10:38] {Threei} if loses .70, play is different:

[10:38] {ese} not quasi.....imo....they are

[10:38] {Threei} let's look for double bottom off .60

[10:39] {nemo} just qualifying ese

[10:39] {Threei} also,

[10:39] {Threei} Long Setup: RIMM .30 break

[10:40] {Threei} don't chase, let' it pull back

[10:40] {Threei} there

[10:40] {Threei} next break is entry

[10:40] {Threei} stop is under .20 for hardcore scalpers

[10:40] {Threei} .15 for more sane ones

[10:40] {Threei} LVS invalidated

[10:44] {Threei} don't see clear setup forming on double bottom either

[10:47] {Threei} Short Setup: LVS .60 break

[10:47] {Threei} if stays under .70

[10:48] {nemo} big sell orers @.70

[10:48] {Threei} yup

[10:48] {Threei} want to try it aggressively?

[10:48] {Threei} with ridiculously tight stop

[10:48] {nemo} like .02?

[10:48] {Threei} above .70

[10:49] {nemo} yeah...

[10:51] {Threei} HIG formed .90 - 27 range

[10:51] {magoo} problem w/hig is l;ike yesterday..might just freeze

[10:52] {magoo} ok dip buyers come on in....

[10:52] {Threei} if makrte repeats this yesterday comatose state, so will HIG most likely

[10:52] {Threei} things run in place very fast

[10:57] {Threei} cover half LVS near support

[10:57] {Threei} take advantage of aggressive entry

[10:58] {Threei} see if we get breakdown for the balance

[10:59] {Threei} (US) ICO: August world coffee exports were 7.31M bags

[10:59] {Threei} hmmm... us west coasters drunk half of that I think

[10:59] {Threei} between ese, patience, cosmo and myself

[11:00] {Threei} and dp prefers vodka

[11:00] {Threei} new low LVS

[11:00] {dptl} :) yes

[11:00] {Threei} cover 1/4 more

[11:00] {nemo} ty

[11:00] {Threei} welcome sir

[11:01] {Threei} see larisa? I try hard to be polite

[11:01] {Threei} and sometimes even suceed

[11:02] {Threei} although I have to admit, politness fits me like ballet shoes fit a cow

[11:03] {nemo} hig vad

[11:03] {dino} yong

[11:03] {Threei} bumping of 27...

[11:03] {Threei} not sure about it nemo

[11:03] {Threei} YONG Strength attributed to positive comments from Navallier (8.43, +0.28, 3.44%)

[11:03] {Threei} well

[11:03] {nemo} volume up the last 15 minutes

[11:03] {Threei} if you are ok with 10 cents stop on HIG, why not

[11:03] {Threei} it's a valid setup

[11:04] {Threei} it's just that shorts have this more natural feel to them right now

[11:04] {Threei} LVS short felt right

[11:04] {nemo} yes

[11:05] {Threei} guess who is on TV

[11:05] {nemo} Barbara Streisand?

[11:05] {Threei} you wish

[11:05] {nemo} not really

[11:05] {Threei} lol

[11:06] {nemo} palm strong

[11:07] {Threei} 83% Say Congress Should Post Bills Online For All To Read Before Voting On Them

[11:07] {Threei} fat chance

[11:07] {Threei} that would create situation where constituents read it while enators didn't

[11:07] {nemo} tck and fcx strong

[11:10] {Threei} thank goodness HIG long is ivalidated

[11:10] {Threei} felt uneasy about it

[11:11] {Threei} stop for the last piece of LVS to above .60

[11:15] {Threei} Short Setup: AIG .50 break

[11:15] {Threei} if stays below .65

[11:15] {Threei} Fed's Lockhart: First time home buyer tax credit has shown results; decision on extending it should be based on the health of the housing market - Q

[11:16] {ese} talk about out of wack.....look at AMSC and then look at the press releases....sheesh

[11:17] {Threei} AIG invalidated

[11:17] {ese} how do they expect me to trade in conditions like this!!

[11:17] {nemo} spy and Q's strengthening

[11:18] {Threei} what's wrong with it ese?

[11:18] {Threei} 100 M contract

[11:18] {Threei} a few upgrades

[11:19] {ese} Broadpoint AmTech reiterates Neutral rating, price target $31

[11:19] {ese} it's trading at 33

[11:19] {Threei} piper says 45

[11:19] {Threei} RBC says 25

[11:19] {Threei} shrug

[11:19] {Threei} as if they know

[11:19] {Threei} since when do you pay any attention to those dummies

[11:19] {ese} Update: Price Target raised to $25 from $15 at RBC Capital, maintains Underperform ratin

[11:20] {ese} indeed

[11:22] {ese} it's just goofy thats all.......let me rephrase.....how do they expect "US" to trade in these conditions

[11:23] {Threei} they don't expect us to do anything... less of all make money

[11:24] {ese} raaaathaaaa......difficult one must say......don't you think (read with upper crust british accent....with coners of mouth pulled back)

[11:25] {dino} sm l clw .32

[11:25] {dino} aipc sm l .25\

[11:26] {fernp} will HIG break 27 one day of these?

[11:26] {nemo} dow recovering well

[11:27] {Threei} I don't like it fern...

[11:27] {Threei} market recovers, HIG stays under this resistance

[11:27] {fernp} yeah

[11:27] {ese} to suck in buyers nemo.....then sell off again....imo

[11:27] {dino} amn sm l ave .08

[11:29] {ese} heres the analogy....."the gates are down....the lights are flashing....but that train just ain't commin"......

[11:29] {ese} hmmmmmmmm you could say that about some peoples mental state as well

[11:30] {Threei} I take severe umbrage

[11:31] {ese} lol

[11:31] {Threei} HIG's breaking down

[11:32] {ese} drys ain't biting this little upturn.....still flatlining.......next downturn.....it's goin with it i'll bet

[11:33] {Threei} RIMM...

[11:33] {ese} just as i say that .......it's spikes up

[11:33] {Threei} .50 is breakout leve

[11:33] {Threei} .35 support

[11:34] {Threei} I'd prefer aggresive entry

[11:37] {Threei} AmEx Global Business Travel Forecast: Expects increases in airfares, especially in business class, in 2010

[11:37] {Threei} - A prolonged period of weak demand in the travel industry depressed prices across travel categories in 2009, most notably in hotel, which as an industry can not reduce capacity as well as airlines and car rental companies. Following this weakened demand in 2009, American Express Business Travel expects a pent up need for travel and meetings to be unleashed in 2010. Fuel prices, along with sustained signs of a restarting economy, could also generate slight up-ticks in travel category prices worldwide, particularly in Asia Pacific.

[11:37] {Threei} related AXP AMR UAUA LCC

[11:41] {Threei} RIMM invalidated

[11:41] {nemo} lvs short?

[11:41] {Threei} did Cramer really recommend CIT yesterday?

[11:41] {nemo} yep

[11:41] {Threei} let's see whether I can spell inkredible

[11:41] {nemo} nope

[11:42] {Threei} yes I cak... inkorrektly but who kares

[11:42] {nemo} naught me

[11:42] {Threei} LVS, no

[11:45] {Threei} HIG... was worth a short... why did I hesitate to call it

[11:46] {Threei} all the makngs of breskdown were there

[11:48] {nemo} lvs shapping up as down?

[11:48] {Threei} say what?

[11:48] {nemo} short.. it broke support

[11:49] {Threei} I suspect English is far from being your first language...

[11:49] {Threei} or second

[11:49] {nemo} Warum sagt dass?

[11:49] {Threei} or your language at all

[11:49] {Threei} I don't see LVS as a play here

[11:49] {Threei} either way

[11:52] {ese} am back....logged of accidentally there......."the gates are down....the lights are flashing ...but that train for ese is just not coming"

[11:53] {Threei} worst yet ese... you missed important thing

[11:53] {Threei} nemo sayz I kan't spel...

[11:55] {Threei} NASDAQ ruled PZE trades stand

[11:55] {Threei} I think they are as puzzled as we are

[11:56] {ese} ohhh my goddd how could i miss that

[11:56] {magoo} i think its because its holding here

[11:56] {magoo} obviously the "efficient: mkt want a $6 at $17 in less than 3 minutes

[11:56] {ese} mags are going to be doing anything with rimm

[11:57] {ese} you

[11:57] {Threei} I am genuinely puzzled by the whole thing mags, I've never seen anything like this

[11:57] {nemo} aig broke

[11:57] {Threei} the merger was known for a year, and the date of completion was desgianted from the get go

[11:58] {Threei} why this thing sat in place and then went up only this mroning is beyond me

[11:59] {magoo} i am stalking rimm..not in ..watching aig too

[12:00] {Threei} AIG, watch for dive under .90

[12:00] {Threei} .80 is support for stop placement

[12:00] {Threei} so if you can grab it as close to .80 as possible, on first sign of strength after such dive

[12:01] {Threei} RIMM{ don't know... no structure that I see

[12:02] {Threei} BCRX

[12:02] {ese} tks

[12:02] {Threei} Upgraded as Top Buy in Michael Murphy newsletter

[12:02] {ese} rimm or bcrx

[12:02] {Threei} BCRX

[12:02] {dino} would rather own rimm

[12:03] {Threei} Michael Murphy begs to differ

[12:03] {Threei} as if I knew who he was

[12:04] {Threei} AIG doesn't want to lose .90

[12:05] {Threei} should do so now

[12:06] {magoo} we need mkt help also

[12:06] {Threei} goes without saying

[12:07] {Threei} ok... you can reverse to the upside now markety

[12:09] {Threei} 000270.KS Car production waning due to cash-for-clunkers program

[12:09] {Threei} that's Kia

06[12:09] * Threei kicks market and AIG in the rear

06[12:10] * Threei kicks market and AIG in the rear with heavy duty steel toe army boots

[12:11] {nemo} oooohhhh...heavy artillery....haven't seen that in a while

[12:11] {Threei} that's beuase I was trying to become kinder and gentlier

[12:11] {Threei} now I gave up on that... sorry larisa

[12:11] {nemo} yeah...you failed miserably

[12:11] {Threei} yup

[12:12] {nemo} and damn proud of it I might add

[12:12] {Threei} totally

[12:13] {Threei} market is frozen stiff

[12:16] {Threei} out half AIG

[12:16] {Threei} 43.99

[12:17] {Threei} see? violence works

[12:17] {nemo} geez...might end up with positive indexes

[12:17] {Threei} kind word and a gun are so much more effective than kind word alone

[12:18] {Threei} the most beautiful aspect of this play was this patient waiting for entry... letting market come to us

[12:19] {magoo} ,

[12:20] {Threei} not to put too fine point on it, mags?

[12:20] {Threei} Fed's Lockhart: FOMC members differ on exit strategy timing pace

[12:20] {Threei} credit programs are winding down; credit markets showing healthy signs

[12:21] {Threei} sheesh... leave timing alone for now, tell us what exactly exit strategy even is

[12:22] {ese} somethings rotten in Denmark I tell ya.......this smooth little climb in the qqqq and indexes is not indicative of a change in trend.....still waitin on drys

[12:23] {Threei} told by someone who visited Denmark recently - I'd listen

[12:24] {ese} ya ya.....i'm tellin ya......ya ya

[12:24] {Threei} oh boy... look who has opened his mouth:

[12:24] {Threei} (US) Former Fed Chairman Greenspan: no return to recession in 2010

[12:24] {Threei} some just don't possess this ability to shut the f'up

[12:25] {ese} wait a minute.......just a few weeks back he said things were gonna get worse

[12:25] {Threei} and he said there was no housing bubble

[12:25] {ese} yup

[12:25] {Threei} and he was all for gold standard until he was against

[12:25] {dino} so he will be right no matter what

[12:25] {Threei} there you go

[12:26] {Threei} more from him:

[12:26] {Threei} $2T balance sheets "not sustainable"

[12:26] {Threei} - U.S. growth to average 3-4% in next six months and is currently in "disinflationary" period

[12:26] {nemo} what's "disinflationary"?

[12:26] {Threei} CHTP Share strength attributable to positive comments from TheStreet.com's Adam Feuerstein (2.50, +0.09, 3.73%) (related GETA PARD )

[12:27] {nemo} I know, "deflationary" and "inflationary" but...is that another word for "stagflation"?

[12:27] {Threei} nemo, there is ingection, and then there is disinfection

[12:27] {Threei} infectio

[12:27] {nemo} skip it

[12:28] {Threei} why... I feel the need to fill the void in your language skills {G}

[12:28] {Threei} can't you see I am really qualified?

[12:28] {Threei} I meant "kan't"

[12:28] {nemo} Immanuel?

[12:29] {Threei} yeah, him

[12:29] {dino} well nemo, as clinton would say, "depends on the definition of is "

[12:29] {Threei} not trailing stop for second half AIG

[12:29] {Threei} still under .80

[12:30] {Threei} it was miniscule to begin with

[12:34] {nemo} market is amazing, that bad news, and it's coming back

[12:35] {Threei} wasn't it what I insinuated in the morning?

[12:35] {nemo} No

[12:35] {nemo} You pretty much said it directly

[12:35] {Threei} ah come on

[12:35] {Threei} how often do I get a chance to say "insinuated"

[12:35] {nemo} as often as you want...it's your IM room

[12:36] {dino} lol

[12:38] {Threei} go already AIG

[12:39] {Threei} can't believe this ball of fire takes this long to resolve

06[12:39] * Threei prodes AIG with electrocharged sharp stick

[12:40] {Threei} like poking amoeba

[12:40] {Threei} offering 1/4 more .18

[12:41] {Threei} hit

[12:41] {Threei} stop to under 44 for the last portion

[12:41] {magoo} thought alot highger

[12:41] {Threei} offering at .35

[12:41] {Threei} I am modest magoo

[12:41] {Threei} and humble

[12:41] {Threei} this is the last virtue I still possess

[12:42] {nemo} ow!

[12:42] {nemo} think I sprained my arm falling off my chair

[12:42] {Threei} that's what you get for not belueving me

[12:43] {Threei} (US) US military dispatches two F-16s to intercept small single engine plane not responding to radio calls (related GLD USO )

[12:43] {Threei} where?

[12:43] {Threei} Fed's Kohn: Low rates will likely exist for an extended period; can not predict how rapidly rates will rise; calibrating end of accomodation willl be a challenge

[12:43] {Threei} - Fed could influence rates through asset sales

[12:43] {Threei} - Fed developing additional methods for draining reserves

[12:43] {Threei} - Economy, inflation to determine exit timing

[12:43] {Threei} - Confident on interest on reserves as exit tool

[12:45] {Threei} oh look, my favorite guys speak:

[12:45] {Threei} EU) ECB's Trichet: It is a very demanding time, many lessons must be learned from the crisis

[12:45] {Threei} "these are trying times, my son"...

[12:46] {Threei} small plane in the line is above Indiana

[12:46] {Threei} it's down now, not terror related

[12:47] {Threei} one of the lessons was that the global financial system was too fragile -

[12:47] {Threei} that's deep

[12:49] {Threei} come on AIG

[12:49] {Threei} so close

[12:51] {dino} icfi

[12:51] {magoo} once u fill vad..it prob blows to .80 area

[12:51] {Threei} I don't have a feel for it anymore

[12:51] {Threei} just playing it formally

[12:52] {Threei} can't tell whether it's likely to go more or this is it

[12:56] {ese} well alrighty then.....the market keeps on going up....except when it doesn't

[12:56] {Threei} ewzaktly

[12:57] {Threei} no... wrong spelling

[12:57] {Threei} eqzaktly

[12:57] {Threei} there

[12:57] {nemo} or presicily

[12:57] {Threei} or zat

[12:57] {ese} it's got me bafoozled

[12:57] {dino} out clw .41, +1.16

[12:57] {Threei} wtg dino

[12:57] {nemo} nice

[12:57] {dino} 1.09 opps

[12:58] {Threei} really oops

[12:58] {nemo} take it back vad

[12:58] {Threei} I withdraw my wtg

[12:58] {dino} lol

[12:58] {nemo} $1.09...that's terrible

[12:58] {Threei} yeash, what were you thinking dino

[12:58] {dino} not sure on amn, yesterday took off when i sold

[12:58] {nemo} Can't believe he even wanted to tell us

[12:58] {ese} wow....is all i can say dino...the volume on that is thinner than toilet paper

[12:58] {Threei} just roll with it ese... don't try to predict

[12:59] {dino} 300 only es

[12:59] {nemo} 1 ply toilet paper

[12:59] {Threei} better minds than ours got burned trying to predict general market direction

[12:59] {ese} nice though

[12:59] {Threei} and guess what - they never made any mney

[12:59] {dino} ty

[13:00] {Threei} but they sure wrote a lot of books explaining why no one can read thae market

[13:00] {magoo} mkts LAUCHED

[13:01] {Threei} (IS) Bank of Israel's Fisher: Not planning to raise rates every month

[13:01] {Threei} let's move?

[13:02] {Threei} sheesh... all this market move, and HIG just now broke that 27

[13:02] {magoo} and AIG cant get out of anus either vad

[13:03] {magoo} with mkt clinmb like this, should be testying highs

[13:05] {Threei} (US) Fed's Kohn: Fed has to keep inflation expectations anchored- Q

[13:05] {Threei} - Lot of slack in the economy

[13:05] {Threei} - Maybe extended periods before the removal of low rates

[13:09] {Threei} Ford Credit CEO: We intend to be profitable in near term

[13:09] {Threei} - Looking for alternative sources of funding

[13:26] {Threei} finally!

[13:26] {Threei} out AIG .35, +.50

[13:27] {Threei} can you believe the time it took?

[13:27] {Threei} on AIG,no less - stock that used to move 50 cents in seconds

[13:28] {ese} gotta go make music.....see ya tomorow

[13:28] {Threei} take care ese, make good music

[13:28] {ese} see ya vad

[13:41] {dino} cya

[13:41] {Threei} lol dino

[13:41] {Threei} you are slower than AIG

[13:45] {Threei} CBAK... one thing we missed big today

[13:45] {nemo} were you too busy patting yourself on the back about something?

[13:46] {Threei} that, and looking for a reason to slap you with frozen trout

[13:46] {Threei} luckily you provide one

06[13:46] * Threei slaps nemo around a bit with a large frozen trout

[13:46] {nemo} on a minute to minute basis...like you had to look

[13:47] {Threei} ABAT

[13:47] {Threei} ABAT Hearing rumor that ABAT may have gotten an initial order from Apple for lithium ion batteries for MacBooks (4.25, +0.15, 3.66%)

[14:01] {nemo} cat short?

[14:01] {nemo} oops

[14:01] {Threei} no clear read

[14:02] {nemo} you mean: know kleer reed

[14:02] {Threei} wow

[14:02] {Threei} that's good

[14:02] {nemo} ow

[14:02] {Threei} I need to learn new words

[14:03] {nemo} sprained my other arm falling off the chair after you complimented (?) me

[14:03] {Threei} expand my vocabulary beyond "fire bad, tree good"

[14:03] {Threei} why is it so unexpected... I like to thin of myself as strict but fair

[14:04] {nemo} we'll just call you Ivan

[14:04] {Threei} why? he was really terrible

[14:04] {larisa} I want to kick out both of you now :)

[14:04] {Threei} rofl

[14:04] {nemo} kicked out your own room

[14:04] {nemo} hahahahahaha...typical divorce result

[14:12] {nemo} mmmhh...cat restablished a range, although long would be the thought here...Oh, no, I thought

[14:13] {Threei} RIMM could be more interesting olayer soon

[14:21] {Threei} (US) Reportedly EPA plans to propose limitation of emission rules to "big emitters" (related CARBX )

[14:21] {Threei} heh

[14:22] {Threei} this is the way to move cap and trade witholut senate

[14:30] {Threei} (US) Senate's Dodd: timing "critical" on regulatory reform

[14:30] {Threei} - In October the Senate will write bill on financial rules, but could act in late November and October

[14:31] {Threei} US) Fed's Tarullo: Charge on systemically important firms a promising idea

[14:31] {Threei} - Need to raise capital rules for traded securities

[14:31] {Threei} (CA) Canada's PM Harper: economic performance better than the U.S.

[14:31] {Threei} - Sees beginnings of a fragile recovery

[14:32] {Threei} Short Setup: RIMM 68 break

[14:32] {Threei} if sstays below .10 - .15

[14:39] {Threei} wow

[14:39] {Threei} US) Congressman Sherman: to introduce a bill on Credit Rating companies as soon as next week

[14:39] {Threei} - Bill would empower the government, rather than private firms, to choose who rates debt

[14:39] {Threei} huh???

[14:42] {nemo} probably get tayp paynting into EOQ today

[14:52] {dino} hrp

[14:57] {Threei} before we start searching for last hour plays,

[14:57] {Threei} http://www.realitytrader.com/photography/2009/09/past-curfrew.html

[14:57] {nemo} Ahhhh....I wish I felt like that when I'm trading :)

[14:58] {larisa} is it your plane? :) nice pics

[14:58] {Threei} ty

[14:58] {Threei} and no

[14:58] {Threei} lol

[14:58] {nemo} he's got a 727

[14:59] {Threei} no way... too big carbon footprint {GGG}

[14:59] {larisa} RIMM lost 68

[15:01] {Threei} too sharp drop into support

[15:01] {Threei} couldn't go for it

[15:01] {nemo} everyting is losing support

[15:01] {Threei} bounce into new resistance however

[15:01] {Threei} will be inmteresting to try and short intp

[15:03] {Threei} (US) Moody's: Uncertainty surrounding FDIC "safe harbor" status may affect some credit

[15:03] {Threei} - The ongoing uncertainty over whether the FDIC will continue to grant "safe harbor" status to the securitizations of banks in receivership once new accounting rules are in place could lead to many Aaa-rated U.S. credit card transactions being placed under review for possible downgrade, says Moody''s Investors Service in a new report.

[15:06] {Threei} no bounce for short on RIMM so far

[15:16] {fernp} ok. another slow day but profitable

[15:16] {fernp} good evening everybody. see u all tomorrow

[15:16] {Threei} take care fern

[15:16] {Threei} sorry it's so slow

[15:17] {nemo} I'll take boring and profitable over fast and...(insert hyperbolic adjective here)

[15:18] {fernp} Vad, are you guilty of this slow pace? lol

[15:18] {Threei} well, my favorite days are those when we make 3-5 profitable trades in quick succession after the open, and then I get to ask : can I go home?

[15:18] {nemo} It's magoos fault

[15:18] {Threei} well, fern... people want to blame someone, why not me?? :)

[15:18] {Threei} actually we may establish rolling blame

[15:19] {Threei} tomorrow it will be magoo

[15:19] {fernp} ok. I hate you :)

[15:19] {patience} i did one very boring trade in Teck (my favourite atm) +1.43 happy day :)

[15:19] {Threei} hehe

[15:19] {nemo} so you bottom and top ticked it, geez

[15:19] {patience} i sold 4 cents from the top

[15:19] {patience} :)

[15:20] {Threei} USGS reports 6.3 magnitude earthquake in La Paz, Peru

[15:20] {Threei} what is it

[15:21] {Threei} end of the world is coming?

[15:21] {nemo} what patience, just bought it at S1?

[15:21] {dino} pag

[15:21] {Threei} quake a day

[15:21] {nemo} 12/21/2012

[15:21] {patience} sorry nemo, what is s1

[15:21] {nemo} first support under pivot, it bounced right there

[15:22] {patience} i buy below 30 rsi and i sold above 70

[15:22] {patience} it is oversold right now

[15:22] {patience} trying to decide if i want to be greedy and scalp it...but don't like end of day trades

[15:22] {nemo} geez...don't tell Vad you're using indicators

[15:23] {patience} he knows i still scalp

[15:23] {patience} :)

[15:23] {nemo} which rsi settings do you use?

[15:23] {patience} 5 and 15 for scalping

[15:24] {Threei} AIG

[15:24] {patience} minutes i mean

[15:24] {Threei} let's see if we can get a bounce from .50

[15:24] {Threei} alternatively, .50 break is short if market resumes downward

[15:24] {Threei} so, what we need is upport envelop

[15:25] {Threei} .65

[15:26] {Threei} Short Setup: AIG .50 break if holding below .65 and market drops

[15:26] {Threei} Long Setup: AIG .65 break if holding above .50 and market goes up

[15:26] {Threei} long side sets up

[15:29] {magoo} hig bruta;l again

[15:29] {Threei} sharp downtick market

[15:39] {Threei} this is chnese water torture

[15:39] {nemo} with bamboo shoots under fingernails

[15:40] {nemo} geez

[15:40] {larisa} long at .50 and short at .65 would be perfect :)

[15:40] {Threei} no kidding

[15:40] {Threei} turned into range play

[15:40] {nemo} hedged?

[15:41] {larisa} no, playing range

[15:41] {Threei} initial idea was to enter long closer to .50

[15:41] {Threei} ad that was what I should have stayed with

[15:42] {Threei} okay, finally

[15:42] {Threei} what, still not it??

[15:42] {Threei} come on

[15:42] {larisa} lol

[15:44] {nemo} how's the water?

06[15:46] * Threei whips AIG with donkey's tail

[15:51] {Threei} fiiiinally

[15:51] {magoo} out .77 for chrisssake

[15:51] {magoo} lol

[15:51] {Threei} out .77

[15:51] {Threei} ain't I stubborn

[15:51] {magoo} imagune..i HIG too..same scenario

[15:51] {magoo} tiorture

[15:51] {Threei} where do you think I got donky tail

[15:52] {magoo} out HIG .57 sheesh

[15:52] {Threei} wtg

[15:52] {magoo} brutal;

[15:52] {Threei} I didn't like HIG

[15:52] {magoo} well..hig doesnt like u either

[15:52] {Threei} no... I abused it for too long

[15:53] {Threei} AIG over 1:1

[15:53] {magoo} and it - u

[15:53] {Threei} if it wasn't so close to eod, I'd sit till over .80, lol

[15:53] {Threei} okay... as fern said - torturous day but profitable

[15:54] {Threei} any chance we would close in green?

[15:55] {Threei} AIG 1:2

[15:56] {Threei} mags, if tomorrow we have a slow day it's your turn to take blame

[15:56] {Threei} NQ's green

[15:57] {Threei} DJI 20 points to green

[15:57] {Threei} and 4 minutes

[15:57] {Threei} can it or can it not?

[15:57] {Threei} 15

[15:58] {magoo} :)

[15:58] {Threei} wrong way

[15:58] {Threei} -30

[15:58] {Threei} 2 min

[15:58] {Threei} not going to happen

[15:58] {Threei} red it is

[15:58] {magoo} oops i kicked wrong

[15:58] {Threei} argh

[15:59] {Threei} told you: broch marks the front

[15:59] {nemo} what?

[15:59] {Threei} for russian speaking: tam gde broshka tam kazhetsja pered...

[16:00] {nemo} stob ....... e denge bili

[16:00] {Threei} pinb

[16:00] {Threei} pin

[16:00] {Threei} okay guys

[16:00] {Threei} thank you all

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

[16:00] {Threei} see you tomorrow

[16:00] {larisa} bye :)

[16:00] {magoo} ty

[16:00] {lasertrev} gn all

[16:01] {nemo} gnite