Oct 21 2009

Not a very active day, and mostly flat monetary wise. We expected reversal to the downside, but it came with no clear setups not really offering opportunity to profit. Doesn't matter much though - we seem to finally start the descent, and there will be enough opportunities. Relentless climb up was becoming tired.

Session Time: Wed Oct 21 00:00:00 2009

[08:03] {Threei} MS Reports Q3 $0.38 v $0.29e, R$8.7B v $7Be

[08:04] {Threei} - Institutional Securities net revenues $5BB v $2.96B q/q

[08:04] {Threei} - Equity sales and trading net revenues $1.1B v $681M q/q

[08:12] {KSystems} morning :)

[08:12] {Threei} KS :)

[08:32] {strider} syk

[08:39] {fernp} Good morning everybody

[08:40] {Threei} strider, fern :)

[08:40] {strider} howdy

[08:43] {Threei} (US) Bernanke: 12/1 implementation date for Credit Card Accountability Act could have unintended consequences

[08:43] {Threei} - Smaller businesses may have difficulty in implementing measures

[08:43] {Threei} **Reminder: On 09/29 Fed proposed new rules to ban several "harmful practices" by credit card issuers, including restrictions on lending to people under 21. The Fed is seeking to implement some of the features of a law passed in May.

[08:54] {nemo} we in anything

[08:54] {Threei} why would we

[08:54] {nemo} you saw a set up

[08:55] {Threei} with my eyes closed??

[08:55] {nemo} you had your 3rd one open

[09:00] {lasertrev} gm all

[09:01] {Threei} trev :)

[09:02] {cosmo} plcm

[09:02] {nemo} lt :)

[09:04] {cosmo} PLCM pre mkt low = 22.70 fwiw

[09:12] {cosmo} ...double bottom, it turns out...

[09:14] {cosmo} i think

[09:14] {ese} gm

[09:15] {Threei} cosmo, ese :)

[09:15] {nemo} dudes

[09:15] {ese} it's meet the creature night at my school tonight......sorry....meet the teacher

[09:15] {ese} duude

[09:17] {nemo} fcx looks like a top

[09:17] {Threei} US Dollar vs Swiss Franc Dealer chatter about potentional intervention levels and 'removal' of obstacles

[09:17] {Threei} - One European dealer commenting that prior 'heavy' buyers of CHF into the last round of intervention was "told" not to do that again

[09:17] {Threei} - Dealer alos noted that large swiss corps are hedged about 2-5 years out which could result in less CHF buying

[09:18] {larisa} gm :)

[09:18] {nemo} dudess

[09:18] {Threei} larisa :)

[09:18] {larisa} vad, nemo :)

[09:19] {bkhmd} GM all

[09:19] {Threei} bkhmd :)

[09:21] {ese} sorry....whats CHF

[09:22] {Threei} Swiss Franc?

[09:22] {nemo} yes

[09:22] {ese} tks

[09:25] {Threei} US) According to Fiserve, Miami home values will fall another 30% by June, 2010 - Miami Herald

[09:25] {Threei} - Among 381 metropolitan areas ranked nationwide, Miami will be the biggest loser, according to Fiserv, a financial information and analysis firm.

[09:25] {dptl} good morning

[09:25] {Threei} dp :)

[09:25] {ese} was out of fitb yesterday at .66 for +.12 am still in swks am +.16 so far

[09:25] {ese} dddddddddppppppp!!!!!!!

[09:25] {Threei} - The firm predicts Miami home values will plunge another 29.9 percent by June 2010, on top of price declines of 48 percent since peaking in 2006. Orlando fared second-worse, with values shrinking 27 percent. Prices are forecast to fall another 26 percent in Fort Lauderdale.

[09:25] {Threei} - In Miami, that means the median home price would fall to $150,500 by next June and $153,100 in the Fort Lauderdale metro area. The price deductions are calculated from the median price at the end of the second quarter.

[09:26] {nemo} fcx did break support, is now pulling back, may be setting up for a nice drop

[09:28] {Threei} MS is short candidate at some point

[09:28] {Threei} on watch

[09:28] {nemo} aig too maybe

[09:28] {Threei} gapping up on earnings, and that wasn't sustainable these days

[09:31] {nemo} fcx gapped down a $

[09:31] {Threei} AONE

[09:31] {Threei} no news

[09:32] {Threei} volatility's as always...

[09:32] {Threei} YHOO sharp selling

[09:33] {nemo} markets sharp buying

[09:33] {Threei} not ready for a good bounce yet, IMO

[09:36] {Threei} missed HIG .55 break, no time to type alert

[09:36] {bkhmd} HOG was same

[09:37] {Threei} YHOO fooled me

[09:38] {_mreust} sndk really moved

[09:38] {Threei} FITB, .1/4 more out

[09:38] {fernp} 10.70 1/4 out FITB

[09:38] {Threei} fern :)

[09:38] {Threei} last part, offering .90

[09:39] {Threei} stop under .50

[09:39] {fernp} ok. thanks

[09:39] {Threei} CTDC??

[09:39] {Threei} what the

[09:40] {Threei} no news

[09:43] {strider} pcar

[09:43] {Threei} Long Setup: YHOO .90 break

[09:44] {Threei} if stays above .80

[09:47] {Threei} Short Setup: MS 34 break

[09:47] {Threei} half lot

[09:47] {Threei} could take a few tries so let's keep risk down

[09:47] {Threei} over .20 invalidated

[09:49] {ese} fern nice one ,,,,,with fitb

[09:49] {Threei} MS reestablished

[09:49] {ese} was that a position from yesterday?

[09:49] {nemo} huge order yhoo .89

[09:49] {Threei} yes ese, we took half overnight after taking partial profit

[09:50] {ese} nice you guys...mind if i ask how many k

[09:50] {nemo} you mean "little buggers?"

[09:50] {ese} indeed

[09:51] {nemo} order @.89 gone

[09:51] {ese} not on my level 2 nemo

[09:52] {ese} still there

[09:52] {Threei} UBSS

[09:52] {Threei} still there

[09:52] {ese} gettin there though

[09:52] {Threei} MS is invalidate for sure

[09:52] {nemo} guesss the rally isn't over yet

[09:53] {Threei} YHOO is unsure here

[09:53] {Threei} maybe let's scratch it

[09:53] {nemo} I scratched at .96

[09:53] {Threei} doesn't react of market spike anymore

[09:54] {bkhmd} out

[09:54] {Threei} remasins to be seen of course nemo,

[09:55] {Threei} but my woprking assumption at this point is:

[09:55] {Threei} it's not a rally anymore,

[09:55] {Threei} it's last shakeouts before plunging,

[09:55] {Threei} market won't make it too easy for shorts

[09:55] {nemo} Yes

[09:56] {nemo} Like long shadows on candles, the last gasp...whose left when the party breaks up at 3:00 am

[09:56] {strider} out yhoo .87

[09:57] {Threei} WFC It is time to repay TARP capital; in talks over repayment (31.03, +0.57, 1.87%)

[10:00] {nemo} cat short, break of .09?

[10:00] {nemo} nah

[10:01] {Threei} do we believe in breakout and run up from here?

[10:01] {nemo} doesn't matter what we believe

[10:01] {nemo} what we see

[10:01] {strider} trade what you see...not what you think

[10:01] {Threei} 'cause f yes, HIG is long with .95 trigger

[10:02] {nemo} right at pivot of 92

[10:02] {nemo} .92

[10:03] {fernp} missed HIG

[10:04] {strider} +.13 hig small lot

[10:05] {strider} MS c&h?

[10:05] {nemo} $ down hard

[10:08] {Threei} anyone took HIG?

[10:08] {strider} pullback time?

[10:09] {bkhmd} missed it

[10:09] {strider} I got .13 and was out at .10

[10:09] {Threei} .13?

[10:09] {strider} +.13

[10:09] {Threei} as [rofit or entry price?

[10:09] {Threei} oh ok

[10:09] {Threei} scared me :)

[10:09] {nemo} where's VIX?

[10:09] {strider} nah

[10:10] {strider} in .97 out .10

[10:10] {nemo} $ C&H in UUP

[10:10] {fernp} CHIP happy

[10:11] {nemo} yhoo @ .92

[10:13] {nemo} wfc maybe short?

[10:13] {Threei} Long Setup: RIMM .80 break

[10:13] {Threei} if stays above .70

[10:14] {strider} please repeat set up Vad

[10:14] {Threei} Long Setup: RIMM .80 break

[10:14] {Threei} if stays above .70

[10:14] {strider} thx

[10:15] {nemo} RIMM looks like a good short if it breaks .70

[10:15] {Threei} yup, two-sided setup

[10:16] {Threei} or should I say bi-directional

[10:16] {nemo} metro play

[10:16] {ese} nemo ...want to go long yahoo here but can't seem to trust it

[10:16] {nemo} wfc Vad?

[10:17] {strider} long .80

[10:17] {bkhmd} long .81

[10:17] {Threei} don't know wfc

[10:17] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET

[10:17] {Threei} **Consensus expectations:

[10:17] {Threei} Crude: +1.5Me

[10:17] {Threei} Gasoline: -1.2Me

[10:17] {Threei} Distillate: -1.2Me

[10:29] {ese} talk about doin nuttin....absolutely nuttin this morning.....can't find a thing

[10:29] {Threei} ditto

[10:30] {Threei} DOE CRUDE: +1.3M V +1.5ME

[10:30] {Threei} GASOLINE: -2.2M V -1.2ME; DISTILLATE: -785K V -1.2ME;

[10:30] {Threei} RIMM no go

[10:31] {fernp} out RIMM

[10:31] {bkhmd} yep

[10:31] {nemo} wow...country can really afford to have gas go back up through the roof

[10:31] {Threei} 2 cents shy of 1:1

[10:32] {Threei} Market Internals update at 10:30amET

[10:32] {Threei} - NYSE volume 250M shares, about 11% below its three-month average; advancers lead decliners by 3.7:1.

[10:32] {Threei} - NASDAQ volume 525M shares, about 6% below its three-month average; advancers lead decliners by 2.6:1.

[10:32] {Threei} - VIX index -3.3% to just over 20.00

[10:32] {Threei} so far same pattern is holding: green day, volume drops

[10:36] {fernp} breakdown .70 RIMM reached 1:1 in just one minute

[10:40] {Threei} nemo, to answer your question earlier

[10:40] {Threei} VIX Index hovering just above 20; lowest level since late August 2008

[10:40] {nemo} yeah, saw that

[10:40] {Threei} AGAM IPO opens for trade at $14.50 (14.46, 0.00, 0.00%)

[10:41] {Threei} healthcare

[10:45] {Threei} Long Setup: AGAM .60 break

[10:45] {Threei} if stays above .50

[10:47] {Threei} World Bank's Zoellick: USD will remain as the 'main reserve currency' in the near term (related EUR/USD USD/CHF USD/JPY )

[10:48] {fernp} in AGAM

[10:48] {bkhmd} same

[10:49] {bkhmd} out agam

[10:49] {Threei} ?

[10:49] {Threei} it never lost .50

[10:49] {nemo} .48

[10:49] {bkhmd} my order filled at .49

[10:49] {ese} this is an IPO obviously

[10:50] {Threei} level 2 bid never went lower

[10:50] {Threei} what are you using autostops??

[10:50] {bkhmd} yes

[10:50] {bkhmd} it got me

[10:50] {Threei} yikes

[10:50] {Threei} out of bounds print triggers those

[10:50] {Threei} why do you need that crap? you are right here

[10:50] {bkhmd} had stop at .49 and filled at .50

[10:50] {bkhmd} hmmmm

[10:50] {Threei} if you left your computer, fine

[10:51] {Threei} better auto than nothing

[10:51] {Threei} but since you are here...

[10:51] {Threei} that's exact demonstration of one of the reasons I hate autostops

[10:51] {bkhmd} if it never touched .49 then why would I fill? strange the stop was .49

[10:52] {nemo} because you were willing to sell

[10:52] {Threei} out of bounds print

[10:52] {bkhmd} so I set my stop properly

[10:52] {bkhmd} ?

[10:53] {bkhmd} my stop and my target are set auto when I get filled

[10:53] {Threei} I prefer manual stops

[10:53] {ese} whats with yahoo nemo?.......does not want to go anywhere

[10:54] {nemo} manure stock

[10:55] {nemo} too much history

[10:55] {ese} aptly put

[10:56] {ese} this should be the new way we speak on vads board

[10:56] {ese} inuendo......nothing actuallly said

[10:57] {nemo} where's magoo today?

[11:01] {strider} when IPO starts trading, is all the initial offering already sold?

[11:02] {larisa} http://moneycentral.hoovers.com/global/msn/index.xhtml?pageid=1954

[11:06] {strider} thx. Larisa. i know what an IPO is, but my thought was whether all the AGAM initial 14.50 stocck is gone.

[11:06] {fernp} stopped AGAM

[11:06] {bkhmd} Thanks Larisa that was informative

[11:07] {strider} If initial offering still available, there would be no reason for the traded stock to move higher.

[11:11] {Threei} AIG totally trades on its own

[11:12] {Threei} no connection wit market or financials whatsoever

[11:12] {Threei} US House Judiciary votes to ban price fixing in health insurance sector through end in anti trust exemptions

[11:17] {Threei} Short Setup: CAT .50 break

[11:18] {Threei} if stays below .60

[11:18] {Threei} not a scalp for me

[11:20] {strider} in at .495

[11:21] {Threei} what is it, Scalp a Scalper day today?

[11:25] {Threei} SPDE Zargus subsidiary cleared as an iPhone developer (5.80, +1.76, 43.56%)

[11:26] {patience} .

[11:26] {Threei} - cleared as an Apple(®) iPhone(®) developer and has begun development of medical diagnostic support software and related peripherals for the iPhone and other leading smartphones.

[11:26] {Threei} - Zargis has identified the handheld environment as a logical delivery platform for its telemedicine and diagnostic software initiatives, and with its team of experienced developer''s plans to leverage the smartphone platform as a mobile hub between medical device peripherals and computer-aided diagnostic support located either locally or remotely.

[11:29] {Threei} SPDE is serious

[11:29] {Threei} magoo would be all over it

[11:29] {Threei} his type of trade

[11:30] {nemo} should send him a copy of the chart :)

[11:30] {Threei} I just can see him "goes to 7"

[11:30] {nemo} You have to see him? Poor bastid

[11:37] {nemo} C&H WFC

[11:38] {ese} L sndk .55......adrenalin rush

[11:39] {fernp} out CAT TY Vad

[11:40] {ese} going comatose....need something to liven me up

[11:40] {Threei} fern :)

[11:42] {strider} Was CAT stopped out?

[11:42] {ese} out sndk .65/.66 +.10 12k of the little buggars

[11:45] {Threei} (US) FDIC's Bair: Recommends large financial firms temporarily suspend large bonuses

[11:45] {Threei} - "Distressed" by reports of large bank bonuses

[11:45] {Threei} - Government should not be micro managing pay

[11:47] {fernp} not here strider. with CAT, RIMM, AIG etc i give them 2 or 3 cents of extra margin

[11:47] {strider} thx.

[11:47] {fernp} :)

[11:48] {strider} I stopped 1/2, out balance for +.09

[11:48] {Threei} GOOG Reportedly planning a song search service with certain music labels

[11:48] {Threei} between all GOOG seraches, I start wondering when they are going to offer soul-seacrhing tool

[11:48] {nemo} ha.....haha......hahahahahaha

[11:49] {Threei} US) Economist Joseph Stiglitz: Does not expect US GDP growth to be sustainable, expects US to remain in a "deep recession"

[11:53] {ese} i rest vads case.......look at sndk ....was in at .55 out at .65 it shoots to .80 tanks al the way to .50.......scalping!! it's the only way

[11:54] {Threei} well, at least until trend reappears

[11:54] {Threei} right now we have none

[11:55] {ese} indeed!

[11:58] {strider} klac forming c&h

[11:58] {strider} reverse

[11:59] {Threei} I like the idea

[11:59] {strider} break of .47?

[11:59] {Threei} yes

[12:00] {nemo} support is @ .30

[12:01] {strider} what chart nemo?

[12:01] {nemo} 1 min or 2 minute on 19th and 16th

[12:02] {ese} 15min chart

[12:02] {nemo} yeah, that too

[12:02] {strider} otoh, dbl bottom

[12:02] {strider} on the other hand

[12:05] {fernp} BAC on lows

[12:05] {strider} useg

[12:06] {Threei} Short Setup: WFC .10

[12:06] {nemo} 10 minutes late dunedin

[12:06] {fernp} stop?

[12:06] {Threei} above .20

[12:09] {ese} plcm l sm .99

[12:09] {Threei} 1:1, half cover for me

[12:09] {fernp} out TY

[12:09] {nemo} 1:1

[12:10] {Threei} if scalpers win this one too, I'm off to monastery

[12:11] {Threei} what do you know

[12:11] {nemo} cya

[12:11] {Threei} see you in 7 years

[12:11] {Threei} Tibet here I come

[12:11] {nemo} nunnery or monastery?

[12:11] {strider} out avg. +.03

[12:12] {Threei} .03?

[12:12] {Threei} what kind of executions are you getting?

[12:12] {strider} death by a thousand cuts:)

[12:12] {nemo} You mean you got out @ .03?

[12:12] {ese} strider...what were you in?

[12:13] {strider} no. I took+08 on half, and bailed on the second half

[12:13] {nemo} oh so averaging the total lot

[12:13] {Threei} .10 in, 30 cover, .12 second cover

[12:14] {Threei} +.10 and -.02, should be +.08?

[12:14] {fernp} ummm, ehhhh, I think so

[12:15] {nemo} how rude wfc

[12:16] {strider} klac approaching lod

[12:17] {fernp} stop is above .60. isn't it?

[12:17] {strider} unfortunately

[12:18] {Threei} yes

[12:20] {nemo} HGSI took quite the dump today

[12:23] {strider} cric dbi?

[12:23] {strider} looks like newbie

[12:23] {Threei} too sharp drop into this level

[12:24] {Threei} may continue or may turn into double bottom

[12:24] {Threei} 50/50

[12:25] {nemo} aig short?

[12:30] {Threei} can't tell

[12:30] {nemo} still not moving with market

[12:30] {Threei} last few days it makes sudden moves with no setup and with no regard to anything

[12:31] {Threei} KS, you don't expect any mail from UK?

[12:32] {Threei} UK) UK Postal Union confirms nationwide strike to go ahead

[12:35] {Threei} US) Fed's Fisher: Sees the beginnings of an inventory correction - TV interview

[12:35] {Threei} - Sees 2010 growth significantly below potential; does not see a double-dip recession

[12:38] {KSystems} huh?

[12:38] {nemo} schlaefst du doch?

[12:38] {Threei} sorry to wake you up

[12:38] {Threei} just giving you a heads up

[12:40] {KSystems} zzzZZZzzzZZZzzzZZZ

[12:42] {Threei} kind of "just in case" call:

[12:42] {Threei} Long Setup: AIG .50 break

[12:44] {nemo} eh...stop there pal?

[12:45] {Threei} how would you structure it?

[12:46] {bkhmd} stop .34?

[12:46] {Threei} as it stands, yes, but

[12:46] {Threei} if it spends a few min more above .40 before tagging .50, I'd keep it under .40

[12:47] {nemo} wfc Vad? looks like aig

[12:48] {Threei} yes, with one difference

[12:48] {Threei} for WFC I want market help

[12:48] {nemo} it just broke

[12:48] {Threei} fff

[12:48] {nemo} wow aig

[12:48] {fernp} impsiible

[12:48] {Threei} missed tuping

[12:49] {strider} bit seller at .60 klac

[12:50] {strider} big

[12:58] {strider} you still in aig?

[12:59] {Threei} MSFT CEO Ballmer: Sees lots of opportunities in Canadian market

[12:59] {Threei} seriously?

[12:59] {Threei} he would be a first

[12:59] {Threei} it never let us in, strider

[12:59] {strider} ok

[13:00] {Threei} went through trigger way too fast for entry, and I was typing at the moment

[13:00] {strider} I just knew that I missed it

[13:01] {Threei} US) Fed's Turullo: Too big to fail must be at center of overhaul

[13:06] {Threei} (US) Pelosi: Reaffirms that there are no plans for Economic Stimulus now

[13:06] {Threei} House will pass Health Care Bill well before Thanksgiving

[13:12] {ese} out pclm in honor of dino .10 +.10

[13:12] {ese} actually i'd had enough of honoring dino......took way too long

[13:13] {Threei} lol

[13:15] {strider} out flat AGAM

[13:15] {strider} .535

[13:15] {Threei} Long Setup: CAT 60 break half lot

[13:15] {Threei} if holdong above .90

[13:16] {Threei} US) US Commerce Sec Locke: Dollar weakness a concern

[13:16] {Threei} - USD Oil link bolsters the case for US Energy Independence

[13:19] {ese} l sndk .67

[13:21] {ese} out sndk .75 +.08

[13:21] {strider} in

[13:27] {Threei} ok CAT, enough games

[13:27] {Threei} time for new high

[13:31] {strider} no lvl 1 data CAT

[13:31] {fernp} switch quote server

[13:32] {Threei} there you go, good kitty

[13:33] {Threei} with bad character, lol

[13:34] {Threei} 1;1 and immediate smackadown

[13:34] {strider} so you got out?

[13:34] {Threei} Preview: Fed's Beige Book survey of regional economic conditions to be released at 2pmET

[13:34] {Threei} * current beige book expected to be mildly positive, highlighting a softened upturn pace in the economy in Sep through early Oct timeframe

[13:34] {strider} with profit?

[13:34] {Threei} 1:1

[13:34] {Threei} lunch time

[13:34] {Threei} and scalpers were the only winners even in the morning today

[13:35] {fernp} sold in the way down. filled at .06

[13:35] {fernp} so +.05

[13:36] {Threei} better than poke in the eye...

[13:36] {Threei} but if you intend to scalp, why not offer it

[13:36] {Threei} and let it take you out on spike

[13:37] {fernp} i always do that. But this time wanted something more...

[13:41] {strider} I'm not getting lvl 1 data on many stocks...anyone else?

[13:41] {nemo} you using laser?

[13:42] {strider} yes

[13:42] {nemo} change quote server

[13:42] {strider} tried that

[13:42] {Threei} tried slapping trev?

[13:42] {strider} nothing for CAT for instance

[13:43] {nemo} close and re open?

[13:44] {nemo} suprised market isn't up more with the $ pummeling today

[13:44] {Threei} I think they are bound to decouple soon

[13:44] {strider} closed/reopned....still no better

[13:46] {nemo} fcx vad, break of 82

[13:46] {nemo} big stop

[13:46] {Threei} strider... you may be too shy still... look:

06[13:46] * Threei slaps lasertrev around a bit with a large question mark

[13:47] {lasertrev} whats up

[13:47] {strider} try a colon.....maybe that'll get his attention.

[13:47] {Threei} see? it works

[13:47] {strider} not getting lvl 1 data on many stocks.

[13:47] {nemo} Vad's got pick to bone with you

[13:47] {Threei} nah, just an attention getter

[13:48] {Threei} and my unconditional love to hurting people

[13:48] {nemo} cat short or long?

[13:48] {nemo} guess it depends on beige book

[13:48] {lasertrev} are u getting level2?

[13:48] {ese} take care all....have my first parent teacher interview in 1hr.....catch you tomorow

[13:48] {Threei} I'd prefer to get some bounce and short into it

[13:49] {Threei} take care ese

[13:49] {ese} cya vad

[13:49] {fernp} bye ese

[13:51] {lasertrev} strider u there?

[13:51] {strider} yeah

[13:51] {lasertrev} everything ok?

[13:52] {strider} no lvl 1 data on some stocks.

[13:52] {strider} for instance, CAT

[13:52] {strider} tried changing servers....tried restarting software

[13:52] {lasertrev} i will talk to you in pm

[13:55] {Threei} strider... make sure that under View - Show Level II you have Displya NYOB in Level II checked

[14:00] {Threei} FED'S BEIGE BOOK: LABOR MARKETS SHOW POCKETS OF SOME IMPROVEMENT; COMMERCIAL REAL ESTATE WEAKEST SECTOR

[14:04] {Threei} 12 DISTRICTS SHOWED STABILIZATION OR MODEST IMPROVEMENTS IN MANY SECTORS; LABOR MARKETS SHOW POCKETS OF SOME IMPROVEMENT

[14:04] {Threei} Market Internals update at 2:00pmET

[14:04] {Threei} - NYSE volume 710M shares, about 1% below its three-month average; advancers lead decliners by 3.3:1.

[14:04] {Threei} - NASDAQ volume 1.52B shares, about 6% above its three-month average; advancers lead decliners by 1.7:1.

[14:04] {Threei} - VIX index -3.5% to just over 20.00

[14:06] {strider} aig bounce?

[14:06] {nemo} oil almost $82

[14:07] {fernp} lol, AGAM still around 14.50

[14:07] {Threei} lol

[14:08] {Threei} one-legged snail moving in mollasses

[14:09] {strider} turns out I

[14:09] {strider} 'm not getting lvl 1 on listeds

[14:10] {Threei} [13:55] {Threei} strider... make sure that under View - Show Level II you have Displya NYOB in Level II checked

[14:11] {strider} all that stuff is greyed out on mine

[14:11] {Threei} click on level 2 window first

[14:11] {Threei} then go to menu

[14:11] {Threei} it's greyed out if some other window is active

[14:12] {strider} cat

[14:13] {strider} I've change it on all lvl 2s. no difference .

[14:13] {strider} Do I need to restart software?

[14:14] {Threei} should have to...

[14:14] {Threei} shouldn't

[14:14] {lasertrev} try AIG or SPY

[14:14] {strider} This just changed all by itself. I didn't go through unchecking stuff. :)

[14:14] {strider} All 3 letter stocks same way. no lvl 1

[14:14] {nemo} how about if I just send him my format file...It works in mine

[14:15] {strider} Well this worked fine until an hour ago....

[14:15] {nemo} oh

[14:15] {lasertrev} so AIG does not work?

[14:16] {strider} ah...solution.

[14:16] {strider} gremlins.

[14:16] {nemo} that's what we used to call it when I was working on networks

[14:16] {strider} had checked show nasdaq only

[14:16] {nemo} OH! that's Lasertrev's fault

[14:17] {strider} but I swear, I did not have sexx with that woman...Monica Lewinsky

[14:17] {nemo} depends on what your definition is

[14:17] {lasertrev} r u good now?

[14:17] {nemo} of "is" is

[14:17] {strider} Yes. But I'm still holding you responsible.

[14:17] {Threei} that's the spirit!'

[14:18] {Threei} and btw... guess who is on TV

[14:18] {lasertrev} np, I have thick skin

[14:18] {strider} Monica?

[14:18] {nemo} Valery Bertinelli?

[14:18] {Threei} thick skin is good... gives us an excuse to use sharper nedles

[14:19] {Threei} nemo... changing orientation?

[14:19] {nemo} armor piercing rounds

[14:19] {strider} bigger petards

[14:19] {Threei} I am content with 2x4 endowed with rusty nails

[14:20] {strider} bcrx?

[14:20] {Threei} BCRX Hearing recent strength being attributed to positive mention by Michael Murphy

[14:20] {Threei} - Note: on 9/30 the Murphy newsletter reiterated BCRX as a Top Buy

[14:21] {Threei} (US) President Obama: Winding down TARP portions aimed at larger banks; major banks that were in critical condition in 2008 require no new Govt assistance

[14:21] {Threei} - Larger limits on SBA-Guaranteed loans will help small businesses; too little credit flowing to small businesses

[14:21] {Threei} - To improve small business lending, essential to make more credit available to community lenders

[14:21] {strider} well then let's have at it.

[14:21] {nemo} I try to stay at least 600 yards away.

[14:22] {strider} from all petards?

[14:22] {nemo} no.....

[14:22] {nemo} ....targets

[14:23] {nemo} wow, apple has had quite the day

[14:23] {nemo} aig break of .25

[14:26] {Threei} probably

[14:28] {strider} +.11 bcrx

[14:28] {strider} thank goodness for small favors

[14:29] {fernp} with EURO/DOLLAR at almost 1.50 is really cheap for an european (like me) to buy music and books in amazon

[14:29] {fernp} Amazes me, I've just bought 3 MJ's cds for 17 euros with shipping included

[14:31] {Threei} I would stll prefer a strong dollar

[14:31] {fernp} I will order a pizza, let's see how much it cost, loll

[14:31] {Threei} from USA??? :)

[14:31] {fernp} :)

[14:32] {nemo} wfc short break of .08?

[14:33] {Threei} nah

[14:33] {larisa} my mom once tried to send me box of peaches from one end of Russia to another :) not a good idea

[14:33] {Threei} but postmen were happy

[14:33] {Threei} mailmen?

[14:35] {larisa} my mom too, i did not have a heart to tell her the truth about condition of the peaches

[14:35] {Threei} good idea

[14:36] {Threei} if I ever see a need to ask someone how I look or something of this kind, I'll ask you larisa

[14:36] {larisa} you are not my mom

[14:37] {Threei} didn't think this one through, did I

[14:37] {larisa} lol

[14:37] {bkhmd} lol

[14:37] {Threei} :)

[14:38] {nemo} first higher low in cat in a while

[14:38] {Threei} WFC

[14:38] {nemo} break of .20

[14:38] {Threei} starts forming something breaky-shaped

[14:39] {strider} aig mnoving

[14:42] {strider} schl has interesting daily...trying to break today

[14:47] {Threei} Long Setup: WFC .20 break

[14:47] {Threei} if stays above .10

[14:59] {strider} ya still think WFC?

[15:00] {Threei} consolidates tighter and tighter

[15:00] {Threei} if market helps, certainly a candidate

[15:00] {nemo} look at aig

[15:04] {nemo} paint dry yet?

[15:05] {Threei} if I miss another trade because of typing to answer you...

[15:05] {nemo} oh yeah, my fault...

[15:05] {Threei} it ought to be someone's

[15:07] {Threei} USEG Files $100M common shelf (6.41, +0.11, 1.75%)

[15:08] {Threei} argh

[15:08] {nemo} what

[15:08] {strider} missed wfc because quotes were stuck

[15:08] {Threei} wow

[15:08] {nemo} what wow?

[15:09] {Threei} sheesh... nemo...

[15:09] {nemo} oh, strider

[15:09] {Threei} you sure your connection's fine strider? quotes are smooth like baby's butt here

[15:09] {strider} it was just stuck lvl 2 data....changing servers fixed it...but missed.

[15:09] {Threei} USEG, what a smackdown

[15:10] {nemo} strider...you know our bandwith?

[15:10] {Threei} (US) Pelosi: reaffirms any House Bill will include public auction

[15:10] {nemo} public plan?

[15:10] {strider} your bandwidth?

[15:11] {nemo} how much data capacity and speed you have

[15:11] {fernp} my pizza arrived. Have to go. Good evening everybody.

[15:11] {strider} nommial 5 mg. download

[15:11] {strider} nominal

[15:11] {nemo} oy...that's tight

[15:11] {Threei} take care fern, enjoy that pepperoni

[15:12] {Threei} 5 sounds low

[15:12] {nemo} yeah

[15:13] {nemo} wow

[15:14] {Threei} WFC Hearing downgraded at Rochdale (30.08, -0.38, -1.25%)

[15:14] {Threei} that's trhe reason for a drop??

[15:14] {nemo} perfect

[15:14] {Threei} watching for bounce entry

[15:14] {nemo} market dropping

[15:15] {nemo} aig strong

[15:15] {Threei} 30 break long

[15:15] {Threei} stop under .95

[15:15] {Threei} invalidated

[15:18] {Threei} reestablished

[15:19] {Threei} nope

[15:19] {nemo} wow

[15:23] {Threei} market is really nervous

[15:23] {nemo} like waiting for a pregnancy test

[15:24] {nemo} well...maybe not

[15:24] {Threei} red close today would be a thing of beauty

[15:24] {Threei} as another indication of topping

[15:24] {nemo} yeah, for us masochists

[15:25] {Threei} [09:55] {Threei} but my woprking assumption at this point is:

[15:25] {Threei} [09:55] {Threei} it's not a rally anymore,

[15:25] {Threei} [09:55] {Threei} it's last shakeouts before plunging,

[15:25] {Threei} [09:55] {Threei} market won't make it too easy for shorts

[15:25] {Threei} if we close in red, it will ber another and quite heavy adition to that side of argument

[15:27] {nemo} low volume day

[15:28] {Threei} but look how volume piocks up on this plunhe

[15:28] {nemo} yes

[15:28] {nemo} two red days in a row would be a first for a while

[15:32] {Threei} Market Internals update at 2:00pmET

[15:32] {Threei} - NYSE volume 950M shares, about 8% above its three-month average; advancers lead decliners by 1.1:1.

[15:32] {Threei} - NASDAQ volume 1.99B shares, about 6% above its three-month average; advancers and decliners about even.

[15:32] {Threei} - VIX index -0.3% to just under 21.00

[15:32] {Threei} that's not really low volume day

[15:32] {nemo} no, it's still below the recent average...arguably within same parameters as recent regular volume

[15:33] {Threei} what's recent?

[15:34] {Threei} 3 months sounds reasonable tome

[15:34] {nemo} my measurements are average of last 100 days

[15:34] {Threei} and this is truly drastically different from 3 month... got it

[15:35] {nemo} no...I was just being specific

[15:38] {Threei} White House's Summers: USD will remain top reserve currency for foreseeable future; World has no viable alternative to USD

[15:38] {Threei} - takes long term Govt indebtedness 'seriously'; deficits in the short term are required to offset lack of spending in private sector; deficits to become a concern when private spending expands

[15:38] {Threei} - administration budget should ensure debt levels move back to sustainable, steady, or declining pace

[15:40] {bkhmd} Good Night all

[15:40] {bkhmd} Thanks Vad for the lesson

[15:41] {Threei} take care bkhmd

[15:41] {Threei} wait.... what lesson?

[15:45] {nemo} talking about sheep again, Vad?

[15:47] {Threei} huh?

[15:50] {Threei} guys, I think we are seeing the top finally

[15:51] {dptl} have a good evening all

[15:52] {Threei} take care dp

[15:53] {larisa} bye all :)

[15:53] {Threei} yake care larisa

[15:54] {larisa} :)

[15:54] {Threei} lackluster day

[16:01] {Threei} thank you all

[16:01] {Threei} have a good evening, see you tomorrow

[16:03] {lasertrev} have a good night vad

[16:03] {nemo} nitall

[16:03] {lasertrev} later nemo

[16:03] {nemo} LT