Oct 28 2009

Fair day with a few nice plays on both short and long sides - notably CAT short and AIG long, and a few scalps and stops here and there. Gearing up for a bounce that seems to be in cards - most likely tomorrow.

Session Time: Wed Oct 28 00:00:00 2009

[08:43] {ese} good morning......

[08:44] {nemo} dude

[08:44] {KSystems} Les!

[08:44] {KSystems} welcome

[08:45] {nemo} Gruss Gott Herrn K

[08:45] {ese} dude

[08:45] {_Les__} KSystems welcomes me...

[08:45] {ese} ksys

[08:45] {_Les__} I feel better already...

[08:45] {ese} les

[08:45] {KSystems} nemo :) ese!

[08:45] {Threei} ks... you need to stop it

06[08:45] * nemo slaps _Les__ around a bit with a large trout

[08:45] {_Les__} why don't i get a smiley like that

[08:46] {Threei} people will think we are warm and welcoming bunch

[08:46] {_Les__} and what's with the slapping

[08:46] {nemo} total crock

[08:46] {KSystems} but not for long, vad

[08:46] {ese} thats the official welcome

[08:46] {_Les__} hold it. KSystems is a person or a machine?

[08:46] {nemo} worse...

[08:46] {KSystems} -beep-

[08:46] {nemo} he's a German

[08:47] {Threei} which means he is both

[08:47] {nemo} actually...good point Vad

06[08:47] * KSystems slaps nemo around a bit with a large German flag

[08:47] {ese} i'm german as well

[08:47] {nemo} well, I'm Irish, Italian...what's your point ese?

[08:47] {_Les__} ahh. Guten Tag!

[08:47] {KSystems} Grezi

[08:48] {Threei} KS's motrning song:

[08:48] {Threei} http://www.youtube.com/watch?v=VXa9tXcMhXQ

[08:48] {nemo} Breakin

[08:48] {ese} ahhhhhhh hmmmmmmm ain't got one

[08:48] {KSystems} oh yeah

[08:48] {nemo} I was listening to Kraftwerk back in the 70's...scary

[08:48] {_Les__} I'm here for a "free" time, not a good time...

[08:48] {_Les__} Vad's free week...

[08:49] {Threei} meaning I am free for a week??

[08:49] {Threei} yessss

[08:49] {_Les__} I wanted to begin 9th Nov but computer program says start today

[08:49] {nemo} fun fun fun on the autobahn

[08:49] {_Les__} stupid machines

[08:49] {nemo} You want to go home Vad?

[08:49] {_Les__} I still listen to Kraftwerk

[08:50] {Threei} my high school music

[08:50] {nemo} Les...you in der Schweiz?

[08:51] {_Les__} oui, mais dans le partie Francais

[08:52] {ese} vad anything worth revisiting...vvus bcrx....to name a couple

[08:52] {ese} ucy ?

[08:52] {ese} bucy?

[08:53] {nemo} amzn recovered yesterday's close, things get weak could be a good short

[08:53] {ese} i missed that short yesterday......to many distractions around my house

[08:53] {Threei} nothing fresh ese

[08:53] {ese} tks

[08:53] {lasertrev} gm

[08:54] {Threei} trev :)

[08:54] {nemo} LT :)

[08:54] {KSystems} which part les?

[08:54] {KSystems} Valais?

[08:54] {Threei} VVUS sems to simply float with market

[08:54] {ese} trev....

[08:54] {_Les__} Vaud, behind Montreux

[08:54] {ese} morning

[08:54] {Threei} BCRX too

[08:54] {KSystems} Oh i see

[08:54] {KSystems} i used to stop at Montreux on my way to Valais several winters

[08:55] {KSystems} how far is it to montreux from your place?

[08:55] {_Les__} You'll be back. Soon no snow anywhere in Europe but Valais :)

[08:55] {nemo} ...on the Lake Geneva shoreline...

[08:55] {ese} oh my goodness.....i played the Montreux festival in 1978 and 1981

[08:55] {ese} yes in deed it is

[08:56] {ese} one of the most beautiful places in the world in my books

[08:56] {Threei} 78?

[08:56] {Threei} wow

[08:56] {ese} yup......

[08:56] {Threei} you were what, just out of high school?

[08:57] {KSystems} nemo

[08:57] {ese} 20 or 21

[08:57] {nemo} ja wohl

[08:57] {KSystems} isnt it "Fahrn" auf der Autobahn?

[08:57] {nemo} Ich errinere mich nicht an

[08:57] {ese} 19 ?? hmmmmm

[08:59] {nemo} Could be K, the album was translated into English, plus I didn't know German then, so you hear what you think you hear. Same with 99 Luft Baloons when it came to the states. I heard it in Germany first. By the time I get to the states it's 99 Red Baloons.

[08:59] {ese} 4 years out of high school 2 years into university

[09:00] {nemo} How old were you when you graduated high school ese?

[09:00] {_Les__} Jazz festival is great, even with kids. Beer and live music in the park on warm sunny afternoon. *Sigh*, ready for summer again already.

[09:01] {ese} they do it in the Miles Davis Center now and not the casino right?

[09:02] {ese} when we played it was int the casino downtown Montreux

[09:02] {Threei} last few photos before I switch to autumn series:

[09:02] {Threei} http://www.realitytrader.com/photography/

[09:04] {ese} did you just go to the end of the pier vad or were you out on a boat

[09:04] {Threei} no, pier

[09:06] {_Les__} appreciate last photo. Clean warm light on the pier - doesn't overwhelm photo

[09:06] {_Les__} not that other photos are overwhelmed by light :)

[09:06] {Threei} ty

[09:07] {Threei} I find the only really overwhelming subject to be that octopus

[09:07] {Threei} something out of sci fi movie, lol

[09:07] {nemo} Jules Verne....:)

[09:07] {ese} we live in a nice part of the world vad.......

[09:07] {Threei} we sure do

[09:07] {Threei} which doesn't prevent us from complaining and whining

[09:08] {ese} hmmmmmm

[09:08] {_Les__} didn't see the rest. Only night photos. ok nice occy

[09:08] {Threei} just scroll down

[09:08] {Threei} wow

[09:08] {Threei} what happened

[09:08] {nemo} yeah, what came out

[09:09] {Threei} I don't see any fresh news

[09:09] {nemo} they

[09:14] {strider} morning all:)

[09:14] {nemo} http://www.bloomberg.com/apps/news?pid=20601087&sid=a2dVAWr7p7lk

[09:14] {Threei} strider :)

[09:14] {nemo} dunedin

[09:14] {Threei} what's there nemo?

[09:14] {nemo} California legalizing marijuana...for taxes of course

[09:15] {cosmo} and currency soon maybe

[09:16] {strider} ese, was that DRYS you were starting to buy yesterday?

[09:16] {nemo} yeah...this keeps up we'll be back to the barter system

[09:16] {ese} yes

[09:16] {ese} i like that 6.50 level

[09:17] {strider} thx. Long-term, has a lot of upside.

[09:17] {ese} will dabble a little here dabble a little there.....eventuallly it will take off

[09:17] {cosmo} ilmn

[09:18] {cosmo} wants to heal

[09:18] {Threei} Reportedly Goldman Sachs analyst lowers US Q3 GDP view to 2.7% v 3.2%

[09:18] {fernp} Good morning everybody

[09:18] {Threei} fern :)

[09:18] {ese} fern

[09:18] {ese} some stocks taking big hair cuts thes last few days

[09:19] {ese} bidu yesterday was crazy....80 some odd points

[09:19] {ese} almost 7pts dn for ilmn

[09:20] {Threei} magoo and dino have no internet connection this morning it seems

[09:21] {ese} big storm out there or something?

[09:22] {Threei} keeping an eye on AET,

[09:22] {Threei} having in mind QID to play market downside

[09:23] {ese} long at .80

[09:26] {dino} gm all

[09:26] {fernp} morning

[09:27] {ese} dino.......

[09:27] {Threei} dino :)

[09:27] {Threei} APOL, cruel

[09:27] {dino} running late thats all

[09:27] {dino} apol -11, esi -5

[09:27] {ese} always meant to ask you this dino........you get your nick from the Flintstones?

[09:29] {dino} yes, and always thought it was a good name for a dog

[09:30] {ese} definitely

[09:30] {nemo} my father's name

[09:30] {dino} neat

[09:31] {dino} in my darth vader voice "nemo I am (not) your father"

[09:31] {nemo} I know

[09:31] {nemo} aig on the edge

[09:32] {magoo} etsjopteoj;

[09:32] {Threei} CTDC, what the deuce

[09:32] {nemo} wokasfw20asvo

[09:32] {Threei} magoo :)

[09:33] {Threei} Long Setup: QID 23 break if holding above .90

[09:34] {Threei} Long Setup: HIG .92 if stays above .85 for scalpers

[09:35] {Threei} .90 for day traders

[09:35] {nemo} too fast

[09:35] {Threei} see if gives pullback for entry

[09:35] {nemo} .80 for day traders?

[09:36] {Threei} yes

[09:36] {strider} out HIG +.10

[09:36] {fernp} missed

[09:36] {Threei} no entry anyway iof missed first timwe

[09:36] {magoo} aapl pummeled vad

[09:36] {Threei} wtg strider

[09:36] {cosmo} ilmn 35 test

[09:36] {strider} figers getting a little faster.

[09:36] {strider} fingers

[09:36] {nemo} yeah, end of yesterday looked like a bear flag on aapl

[09:37] {Threei} AAPL, double bottom is forming, but morning volatility is horrifying

[09:37] {nemo} big vacuum own to 190

[09:37] {nemo} down

[09:37] {ese} nice one on HIG st

[09:37] {strider} thanks, ese

[09:38] {Threei} HIG, valid again as the same setup

[09:38] {Threei} .85 is a support for everyone this time

[09:39] {nemo} aig DT .15 important level

[09:39] {Threei} if invalidates, look for possible entry around .75

[09:39] {tomg} which stock, vad, had power failure

[09:39] {Threei} HIG tom

[09:39] {nemo} hig

[09:39] {tomg} ty

[09:39] {Threei} market downticks though

[09:40] {Threei} don't like this kind of setups against the market

[09:40] {Threei} so consider it discretionary

[09:40] {Threei} Preview: Sept New Home Sales due out at 10amET (14:00 GMT)

[09:40] {Threei} **consensus expectations: 440Ke v 429K prior (estimates range bewteen 412K-460K).

[09:42] {Threei} QID tries to reestablish

[09:43] {Threei} nope, invalidated again

[09:43] {Threei} but I like how 23 forms as a srong resistance to break

[09:43] {Threei} will come handy later in the day if/when market weakness comes

[09:45] {ese} l apol .11

[09:45] {ese} damn got in

[09:45] {ese} out apol .33

[09:45] {ese} wow quick +.20

[09:45] {fernp} WFC db, Vad?

[09:45] {dino} gj

[09:46] {dino} watching esi off it

[09:46] {ese} had stop in at.00 and it shot up to .50 then showed me at .11 bizzare

[09:46] {dino} yeah, air pocket trades

[09:46] {Threei} I doubt it fern

[09:47] {fernp} now yes. :)

[09:48] {Threei} watching HIG

[09:48] {Threei} awww

[09:48] {Threei} late

[09:48] {Threei} that .75 weas ideal entry for a scalp

[09:49] {Threei} market is narrow here

[09:49] {Threei} look at CAT,

[09:49] {Threei} just set up short by breaking .80,

[09:49] {Threei} I skipped it to see if it's real setup of headfake

[09:50] {Threei} range is 20 cents, a bit too wide

[09:50] {nemo} .89 was pivot

[09:50] {Threei} of = or

[09:52] {Threei} Short Setup: HIG .70 breakdown

[09:52] {Threei} stop above .80

[09:52] {ese} i liked esi at .oo dino but missed it

[09:53] {Threei} 1:1

[09:53] {fernp} ty

[09:53] {Threei} yw

[09:53] {nemo} cat vad

[09:53] {Threei} CAT was kind of inconclusive

[09:54] {Threei} chart wise it almost hit 1:1,

[09:54] {Threei} but I watched it trading,

[09:54] {Threei} fill was near impossible that low

[09:54] {Threei} 1:2 HIG

[09:54] {fernp} things are a bit jumpy this morning

[09:55] {Threei} 1:3, get out and get ready for bounce play

[09:55] {Threei} .45 long if holding .40

[09:56] {Threei} no go

[09:56] {fernp} no go

[09:57] {Threei} don't forget QID

[09:57] {Threei} this one is like rifle on the wall

[09:57] {fernp} 23 break, no?

[09:57] {Threei} yes

[09:57] {Threei} hanged there in the first act, sooner or later will fire up

[09:57] {ese} esi thoughts dino

[09:58] {dino} i think 10:00 report coming from something

[09:58] {dino} but overall like esi 95 area

[09:58] {ese} tks

[09:58] {dino} pulp

[09:58] {Threei} 09:40] {Threei} Preview: Sept New Home Sales due out at 10amET (14:00 GMT)

[09:58] {Threei} [09:40] {Threei} **consensus expectations: 440Ke v 429K prior (estimates range bewteen 412K-460K).

[09:58] {fernp} HIG bounce

[09:59] {dino} ash beats drops

[10:00] {Threei} *SEPT NEW HOMES SALES: 402K V 440KE (% M/M)

[10:00] {Threei} - Prior revised from 429K to 417K

[10:00] {Threei} - No revisions

[10:00] {Threei} - Median price $ v $195.2K m/m more... (related XHB SPY SHY EUR/USD )

[10:00] {fernp} QID

[10:00] {dino} hmmm glad i waited

[10:00] {fernp} valid here Vad?

[10:01] {dino} ]s/p lod

[10:01] {Threei} yes, on recross

[10:01] {Threei} if holding .90

[10:01] {fernp} ok

[10:01] {nemo} what up with aig?

[10:02] {Threei} no news AIG

[10:02] {Threei} just being itself I suppose

[10:02] {Threei} QID not a scalp for me

[10:03] {dino} ash sm l .50

[10:03] {dino} esi sm l .40

[10:04] {_Les__} RIMM threatening b/d vad?

[10:04] {Threei} MOT

[10:04] {Threei} Motorola Inc Officially launches Droid smartphone

[10:04] {Threei} - Model runs Google's Android smartphone software.

[10:04] {Threei} - Note: Back on 8/28 MOT commented that it was building its phone business around the Android platform

[10:04] {Threei} not sure RIMM

[10:05] {Threei} pretty much market dependent

[10:05] {Threei} VLO CEO: Impact of Congressional bill to regulate CO2 on VLO refineries will be "staggering" (31.85, -0.25, -0.78%) (related USO )

[10:09] {dino} out esi .15, +.75

[10:09] {Threei} wtg

[10:09] {dino} ty

[10:09] {fernp} yeah, gj

[10:09] {ese} nice dino

[10:09] {dino} ash to .25

[10:09] {dino} thx es

[10:09] {dino} lucky entry

[10:10] {dino} ash to .35

[10:10] {dino} out ash .34 ave, +.84

[10:10] {fernp} no go QID

[10:11] {ese} wow...take the rest of the day off

[10:11] {dino} lol, going for coffee

[10:13] {fernp} almost 1:1 QID, I need a crystal ball :)

[10:15] {dino} dji -3%, ndx, s/p -4.2% since last week. these have been bounce areas

[10:20] {strider} ENER

[10:20] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET

[10:20] {Threei} **Consensus expectations:

[10:20] {Threei} Crude: +1.4M

[10:20] {Threei} Gasoline: -1Me

[10:20] {Threei} Distillate: -700Ke

[10:20] {Threei} ENER takeover rumor

[10:20] {Threei} (again)

[10:21] {ese} l apol

[10:23] {dino} ash, esi pullbacks

[10:23] {ese} opps no price sorry .10

[10:24] {ese} out ..21 +.11

[10:24] {fernp} gj ese

[10:25] {dino} ash sm l .54

[10:25] {ese} its ok thought that it might bounce up but nahhhhh

[10:26] {Threei} market looks and feels breakdownish, yet no clear entries

[10:26] {dino} ash stop is .23 fwiw

[10:26] {nemo} oil announcement things will probably clear up

[10:26] {ese} the q's were bouncing at that time so it was worth a shot...but nothing came of it

[10:27] {Threei} QID, that wass rude

[10:28] {fernp} FTO Vad, valid breakout?

[10:29] {ese} it's working for you again dino........make athe coffee a double shot

[10:29] {dino} tighten ash to b/e

[10:29] {Threei} I wouldn't fern

[10:29] {dino} mkt drops

[10:29] {fernp} ok

[10:30] {fernp} yeah!!! ty

[10:30] {Threei} *DOE CRUDE: +775K V +1.4ME; GASOLINE: +1.6M V -1.0ME; DISTILLATE: -2.1MK V -700

[10:30] {nemo} wow...big gas build

[10:30] {nemo} I know...Captain Obvious

[10:30] {_Les__} valid consolidation in FSLR? Looks like it want's to glide higher...

[10:31] {nemo} that distillate number though...squeezing heating oil?

[10:31] {Threei} I'd rather play breakdown on FSLR if loses 153

[10:31] {nemo} aig vad?

[10:32] {Threei} but vilaility on FSLR is enormous, can kill you on spread alone

[10:32] {Threei} what about it?

[10:32] {nemo} too late

[10:32] {ese} thats a tricky one Les....minimum spread is always . around .20

[10:32] {dino} out ash flat

[10:33] {_Les__} vilaility? u mean vitality?

[10:33] {Threei} volatility

[10:33] {dino} apol lod

[10:33] {_Les__} :)

[10:33] {dino} ash, esi too

[10:33] {_Les__} b/d it is

[10:33] {nemo} threeish Les...and Lari isn't here to police him

[10:34] {_Les__} don't recall lot of FSLR talk mentioned here? difficult beast?

[10:34] {ese} so now it bounces apol

[10:34] {dino} i hate it

[10:34] {dino} fslr that is

[10:35] {dino} "better worlds" imo

[10:35] {nemo} frickin' amzn

[10:35] {ese} it's a beast....i tried to trade it a couple of times week before last and it drove me nuts with the volitility

[10:35] {ese} FSLR les

[10:36] {_Les__} what makes the volatility? computers, pro traders?

[10:36] {Threei} Short Setup: CAT 56 break

[10:36] {ese} probably both

[10:36] {Threei} this bounce high will be the stop level

[10:36] {ese} thats it's character......they each have there won character

[10:36] {ese} own

[10:37] {dino} ot: 3i i started atlas shrugged last night

[10:37] {Threei} not a small feat

[10:37] {Threei} just don't expect much from pure writing point of view :)

[10:38] {nemo} rimm...damn

[10:39] {Threei} .15 is resistance for CAT if sets up now

[10:39] {dino} ash sm l .00

[10:39] {ese} theres big money to be made in rimm nemo once it turns around though

[10:40] {dino} stop is .69

[10:40] {dino} big gap on rimm too58-48

[10:40] {ese} ya....just looking at that now

[10:41] {dino} at min. 58 should hit soon

[10:41] {ese} am considering bstop at 50 and just leaving it sit there

[10:42] {fernp} WFC also setting for a short play

[10:42] {dino} well -6 days out of 8, so odds w/you

[10:43] {ese} yup

[10:43] {Threei} 1:1 CAT

[10:43] {strider} too fast

[10:43] {fernp} not filled here

[10:44] {strider} still valid?

[10:44] {Threei} yes, same setup

[10:44] {nemo} aig vad short break 35

[10:45] {Threei} I guess... tough one nemo

[10:46] {Threei} let's trail CAT stop to above .10

[10:47] {Threei} .05 is more logical but could be a little too tight

[10:47] {_Les__} aapl testing previous supprt

[10:47] {fernp} ty

[10:47] {Threei} this market really needs to break down for real

[10:47] {strider} out +.10

[10:47] {strider} thx

[10:47] {Threei} CAT 1:1 again

[10:48] {ese} fitb geting hit

[10:48] {Threei} AIG beauty

[10:48] {nemo} crissakes quotes, froze, look at aig

[10:48] {Threei} Update: US House Financial Services commitee votes 49-14 to approve new rules for credit rating agencies

[10:48] {Threei} - committee felt agencies had misled investors in rating certain securities too high

[10:48] {Threei} quotes ok here

[10:48] {dino} tighten ash to .79 mkt drop

[10:48] {_Les__} aapl b/d

[10:49] {Threei} CAT 1:2

[10:49] {Threei} fern

[10:49] {Threei} look at QID

[10:50] {Threei} CAT 1:3, out in full

[10:51] {Threei} this is where I had QID exit in mind on original play

[10:51] {_Les__} great to watch, but would be nicer with real money :(

[10:53] {Threei} wow AIG... good call nemo

[10:54] {nemo} broken clock

[10:54] {fernp} QID cruel

[10:54] {Threei} nice breakdown market

[10:54] {dino} trv holds well, all too, pru breaking

[10:54] {Threei} just what it looked and smelled like

[10:54] {Threei} too bad QID choose to shake us out first, but CAT was there to help

[10:56] {fernp} yes, looking for my crystal ball in ebay

[10:56] {fernp} market and gold on lows

[10:57] {Threei} GLD actually testing two day's low

[10:57] {Threei} .20

[10:58] {fernp} could be a db... let's see

[10:58] {_Les__} thanks for realtime watch. Gonna sort out Bear's bizarre bank wiring requirements before end of day. cheers.

[10:59] {Threei} QID, pullback entry ideally is .15-.20 zone

[11:00] {dino} ash stopped -.21

[11:00] {Threei} a bit too sharp drop into .20, GLD

[11:01] {Threei} skipping break if occurs right now

[11:01] {fernp} HIG short if breaks 23.45?

[11:01] {Threei} but if bounces again, stays under .30, then breaks - I am in

[11:01] {Threei} not right now

[11:01] {Threei} again, too sharp rwed bar into support

[11:02] {Threei} GLD

[11:02] {Threei} valid

[11:02] {Threei} Short Setup: GLD .20 break

[11:02] {strider} shosrt .20?

[11:02] {Threei} stop above .30

[11:03] {Threei} hey, no shakeouts

[11:03] {Threei} just die

[11:03] {Threei} useless shiny yellow crap

[11:04] {fernp} no shakeout, pls

[11:04] {Threei} sigh

[11:04] {Threei} a bit too volatile

[11:05] {Threei} sharp spikes both eays

[11:05] {fernp} yes, ten cents stop here is nothing

[11:06] {Threei} Market Internals update at 11:00amET

[11:06] {Threei} - NYSE volume 440M shares, about 23% above its three-month average; decliners lead advancers by 4.5:1.

[11:06] {Threei} - NASDAQ volume 850M shares, about 16% above its three-month average; decliners lead advancers by 3.1:1.

[11:06] {Threei} - VIX index +5.5% to just over 26.00

[11:14] {dino} hmin sm l .50

[11:14] {dino} sgms sm l .20

[11:14] {dino} stops .17 hmin; .97 sgms

[11:16] {strider} thanks for the calls, dino

[11:16] {dino} np, hope they work

[11:16] {dino} i played tgese two yesterday, dropped big

[11:16] {strider} :)

[11:18] {dino} wow, really spelled these wrong

[11:19] {strider} oh, you meant GE and AMZN?:)

[11:20] {dino} lol, tgese=these

[11:20] {strider} oh, that's not so bad.

[11:20] {strider} target for SGMS?

[11:21] {Threei} yeah, much better than spell AAPL and GRMN

[11:21] {Threei} and = as

[11:21] {dino} .65ish

[11:22] {strider} I like your optimism!

[11:22] {dino} hmin is .99ish

[11:24] {Threei} you know what I am going to ask, right?

[11:24] {strider} No, you can't!

[11:24] {Threei} nah, not that

[11:24] {strider} Boris Karloff

[11:25] {Threei} lol

[11:25] {Threei} that's new

[11:27] {magoo} read on AMZN vad?

[11:27] {magoo} lows

[11:27] {dino} lol optimism, hmin down from yesterdays' open -$6; sgms -$5

[11:28] {Threei} long on pullback mags

[11:28] {Threei} closer to 121

[11:28] {dino} contrarian more me

[11:29] {dino} ash continues down on big beat

[11:29] {dino} wynn no luv yet

[11:29] {dino} esi, apol lod

[11:35] {Threei} QID precise bounce off .15

[11:36] {Threei} anyone caught it?

[11:39] {strider} HGSI bounce?

[11:42] {dino} sgms to flat hmin too

[11:43] {strider} sgms entry at .20, no?

[11:43] {strider} oh, toooo flat..

[11:43] {dino} skbi drop, thin

[11:44] {strider} thought you meant you were exiting flat.

[11:44] {dino} no stops to flat

[11:44] {strider} gotcha

[11:44] {strider} thx

[11:45] {dino} hmin, might want to lay out, trading gappy

[11:45] {strider} not in hmin

[11:45] {dino} ok

[11:46] {fernp} GLD again on lows

[11:49] {Threei} isn't it nasty?

[11:49] {Threei} 20 cents jump out of nowhere

[11:49] {fernp} yes, untradeable

[11:50] {Threei} look at 1 min on it, want to show you guys something

[11:50] {Threei} see greakdown at 10:47?

[11:50] {Threei} breakdown

[11:51] {Threei} perfect setup and floowed up perfectly

[11:51] {dino} hmin out .75, +.25

[11:51] {Threei} more or less decent setup, breakdown and follow up at 10:00

[11:51] {Threei} the rest is listless jumps up and down,.

[11:52] {Threei} seemingly setting up, then kills you if you try it.

[11:52] {Threei} Now,

[11:52] {Threei} have a look at market

[11:52] {fernp} Qs?

[11:52] {Threei} yup

[11:52] {Threei} see breakdowns at 10:00 and 10:47?

[11:52] {Threei} I don't think it's an accident

[11:52] {Threei} this thing works flawlessly when supported by the market,

[11:53] {Threei} but the tricky part is:

[11:53] {Threei} when market does nothing and stays in narrow range,

[11:53] {nemo} gld

[11:53] {Threei} GLD doesn't,

[11:53] {Threei} instead it pretends to form setup and trigger,

[11:53] {Threei} then ruins the play by sharp countermove

[11:54] {Threei} So, if this observation is correct, it's a player when the arket moves and "leave it alone" when it doesn't,

[11:54] {Threei} or better yet:

[11:54] {Threei} let's track down such "setup"

[11:54] {Threei} and fade it

[11:55] {Threei} let's papertrade this one for instance

[11:55] {Threei} .25 long

[11:55] {Threei} if stays above .15

[11:56] {Threei} market is locked, so by that theory it's likely to pretend to break down, then jump sharply

[11:56] {Threei} market selloff though will turn it into real breakdown

[11:58] {Threei} .20 break

[11:58] {Threei} if holding .10

[11:59] {fernp} paper?

[11:59] {Threei} or smallish shares

[11:59] {Threei} just testing the idea

[11:59] {fernp} ok

[11:59] {Threei} trying to turn enemy into friend

[11:59] {fernp} lol

[12:01] {Threei} modification #2

[12:02] {Threei} .16 trigger

[12:02] {Threei} if holdin above .10 again

[12:02] {fernp} feels like a nice breakdown (this is the typical breakdown I play)

[12:02] {Threei} lol, 5 sents stop on such animal

[12:03] {Threei} target closer to .30

[12:03] {Threei} sharp spike should take place now

[12:03] {Threei} if I got its behavior right

[12:04] {Threei} (RU) Reportedly Russia Fin Min is still mulling a large gold sale after cancelling a sale from reserves due to a media leak (related GLD )

[12:05] {fernp} we have a new friend :)

[12:05] {Threei} lol

[12:06] {Threei} rwached 1:2, and probably would be good for more if not this headline

[12:06] {Threei} reached

[12:07] {Threei} most remarkably, was possible to play with 5 cents stop

[12:07] {fernp} .25 was my virtual target and reached it

[12:08] {Threei} power of observation...

[12:08] {nemo} 55.20 3rd time for cat

[12:10] {dino} out sgms flat

[12:10] {strider} out sgms:(

[12:11] {dino} lets see if lod holds on it

[12:11] {strider} nice dbl bottom on 10 min chart

[12:11] {nemo} apol lost low

[12:12] {dino} lots of stuff i follow -10 to -20%

[12:12] {dino} in few days

[12:13] {strider} sgms I think the smart money just needs to reload

[12:13] {dino} esi back to july levels

[12:15] {dino} trades w/market

[12:15] {dino} today

[12:20] {nemo} apol could be in for big drop here

[12:21] {nemo} so much for second broken clock moment

[12:21] {Threei} 60 break

[12:21] {nemo} yeah

[12:22] {Threei} why not, nicely looking setup

[12:22] {nemo} invalidated now

[12:22] {Threei} will need to consolidate closer to it

[12:23] {nemo} sonafa...

[12:23] {fernp} 35 cents stop...

[12:25] {dino} ndx -5% 6 days

[12:25] {fernp} HIG not falling with market

[12:25] {nemo} aig short .89

[12:25] {Threei} IA) US House Panel passes the Iran refined petroluem sanctions act

[12:25] {Threei} - Note: Iran is a net importer of refined petroleum products

[12:26] {nemo} invalidate

[12:30] {Threei} Market Internals update at 12:30pmET

[12:30] {Threei} - NYSE volume 720M shares, about 40% above its three-month average; decliners lead advancers by 5.4:1.

[12:30] {Threei} - NASDAQ volume 1.33B shares, about 18% above its three-month average; decliners lead advancers by 3.4:1.

[12:30] {Threei} - VIX index +5.5% to just over 26.00

[12:31] {dino} not good high vol. drops

[12:35] {fernp} Im long here HIG .51 stop under .45

[12:43] {Threei} Preview: Treasury's $41B 5-year note auction results due just after 1PM ET

[12:43] {Threei} - $41B auction size is a $1B increase from Sep and another record

[12:43] {Threei} - prior bid-to-cover ratio 2.40 with an average of 2.22 over the last 10 auctions

[12:44] {nemo} that could be a real buzz-kill

[12:45] {Threei} buzz?

[12:45] {Threei} there is a buzz to kill?

[12:45] {nemo} term for when in a chemically induced euphoria

[12:46] {nemo} and then an incident comes along to negate the mood

[12:46] {Threei} let me try again...

[12:46] {Threei} there is any sign of euphoria around, chemically induced or othrerwise?

[12:46] {nemo} no...but it could further the demise

[12:49] {dino} or that guy on family guy, mr. buzzkill, can't remember his first name

[12:49] {nemo} sonafa...apol

[12:51] {fernp} QID vad?

[12:51] {fernp} no go HIG

[12:52] {Threei} hard to tell... I believe in further breakdown in the market but shakeouts are everywhwere

[12:52] {fernp} thanks

[12:52] {Threei} and this auction comes in a few minutes

[12:53] {Threei} may send market down screaming or start a vicious bounce

[12:53] {Threei} anyone's guess

[12:53] {nemo} any ac/dc setups?

[12:53] {strider} hey, this is a family room!

[12:54] {Threei} Buzz Killintgton, dino

[12:54] {nemo} you mean the Vermont ski area?

06[12:55] * nemo slaps strider around a bit with a large book of threeish etiquette

06[12:56] * nemo reminds strider to think about who runs this asylum

[12:57] {strider} Vad the Impaler?

[12:57] {KSystems} who was this seeing his birthday every time the markets were going down?

[12:57] {nemo} yeah...Darth Vad

[12:57] {nemo} Du spinnst...

[13:01] {nemo} cof at support too

[13:01] {Threei} TREASURY'S $41B 5-YEAR NOTE AUCTION draws 2.388%; BID-TO-COVER RATIO 2.63 V 2.40 PRIOR AND 2.22 AVG OVER THE LAST 10 AUCITONS

[13:02] {nemo} the fed buy it all?

[13:02] {Threei} indirect bidders take 54.8% of competitive bids with 2.81% alloted at the high

[13:02] {dino} me ks

[13:02] {dino} -317

[13:02] {nemo} for what today?

[13:03] {dino} now fall 08-feb 09

[13:03] {Threei} well, what does this auction result mean?

[13:03] {dino} ]many -317 days

[13:03] {nemo} wtfn

[13:03] {nemo} I don't understand dinoish

[13:03] {Threei} HIG bounce starts

[13:03] {nemo} cof too

[13:04] {dino} patience remembers

[13:09] {Threei} MTXX...

[13:09] {Threei} class action suit dismissed

[13:09] {Threei} shrug

[13:09] {Threei} big deal

[13:11] {Threei} now, tell me FDA lifted that ban on their product troubled by loss of smell

[13:11] {Threei} and I'll grab all I can

[13:11] {Threei} that would send the stock to 10

[13:11] {Threei} or 15

[13:11] {ese} L fitb .8699 to be exact

[13:11] {ese} why don't we make it .87.....wha da ya say

[13:12] {Threei} no way

[13:12] {Threei} what kind of sloppy accounting that would be

[13:13] {ese} ya your right.....damn what was i thinkin

[13:14] {Threei} sin no more

[13:14] {Threei} nice bounce HIG

[13:14] {nemo} takes all the fun out of life

[13:14] {Threei} sorry nemo... I'll be known from now on as Buzz Killington

[13:15] {nemo} ahhh...amzn about to make 2nd test of VWAP...maybe...at .85

[13:15] {dino} thats the name

[13:15] {Threei} http://familyguy.wikia.com/wiki/Buzz_Killington

[13:15] {nemo} ohhhh...don't watch that show...hate everything about it except stewie

[13:16] {Threei} I just love the moment whehn he finishes his "joke", and Peter takes off his glassses and wipes his eyes with deep sigh

[13:16] {Threei} wow HIG

[13:17] {dino} hmin sm l .37

[13:17] {Threei} I think bounce continuation after pullback guys

[13:17] {Threei} no new lows for today

[13:18] {dino} psys sm l .05

[13:18] {Threei} HIG entry on pullback around .40

[13:19] {nemo} apol weak

[13:20] {dino} ya think, lol

[13:21] {nemo} in this runup dude...geez

[13:21] {magoo} CIT mental

06[13:21] * nemo slaps dino around a bit with a large trout

[13:22] {Threei} 1:12:17 PM

[13:22] {Threei} CIT Group Inc Obtains $4.5B in financing through Expansion of Existing Secured Credit Facility; responds to Icahn letter

[13:22] {Threei} - expanded its current $3B senior secured credit facility by an additional $4.5B.

[13:22] {Threei} - The new $4.5B tranche, which is being provided by a diverse group of lenders, including many of the Companys bondholders, will be secured by substantially the same assets as the existing $3B tranche and any additional collateral that becomes available as a result of the Companys refinancing of certain existing secured credit

[13:23] {Threei} missed it

[13:27] {ese} out fitb .97 +.10

[13:27] {ese} all you really need is one good trade a day........

[13:33] {Threei} if you play 2 zillions little buggers, sure

[13:35] {ese} that was only 25k .......ehhhhhhhhh

[13:36] {Threei} Just 4% Trust Reporters More Than Themselves on Whats Good for America

[13:36] {Threei} that's really low % of idiots

[13:36] {Threei} unnaturally low

[13:42] {ese} lol

[13:43] {ese} pretty funny vad

[13:43] {Threei} moving target ese...

[13:44] {Threei} just as I celebrate sanity of population after reading something like that, I usually run into "35% believe higher tax helps economy"... and I am lost again

[13:46] {ese} yuuuuuuuuuup..............

[13:48] {Threei} HIG perfect bounce off .40

[13:48] {Threei} anyone got it?

[13:48] {tomg} i got it vad

[13:48] {fernp} missed

[13:48] {strider} rewind?

[13:48] {Threei} or you guys don't pay attention to any comment but exact immediate call?

[13:48] {Threei} ty tom

[13:48] {Threei} you made my day

[13:48] {Threei} someone pays attention

[13:48] {nemo} you said that a long time ago in moth-time

[13:48] {tomg} you made mine, too :)

[13:49] {ese} i'm just watchin......

[13:49] {Threei} strider... rewinding:

[13:49] {Threei} [13:17] {Threei} I think bounce continuation after pullback guys

[13:49] {Threei} [13:17] {Threei} no new lows for today

[13:49] {Threei} [13:18] {dino} psys sm l .05

[13:49] {Threei} [13:18] {Threei} HIG entry on pullback around .40

[13:49] {ese} still enjoying my last trade

[13:49] {ese} although.......if i can get into your habit vad....

[13:49] {strider} that was 30 minutes ago!

[13:49] {nemo} yeah...might as well been last century crissakes

[13:49] {ese} of selling half and hangin in there with

[13:50] {ese} other 1/2 with stop loss

[13:50] {ese} maybe could enjoy them more

[13:50] {nemo} amzn looking toppy

[13:51] {ese} ya strider.....the enjoyment can hang in there for a while......lifes to short not to enjoy

[13:51] {ese} what can i say

[13:51] {Threei} ese, if you feel you got the established direction, try it

[13:51] {strider} yeah, I've slept since then. :)

[13:51] {Threei} risk is none, you are playing with house money after booking half and trailing stop

[13:52] {Threei} look at HIG

[13:52] {ese} i need to buy vad a bottle of champaanea at the end of this year to celebrate the most successful trading year of my life

[13:53] {Threei} single malt will do

[13:53] {ese} done

[13:53] {nemo} I'll take a Bernkastler Doktor Beerenauslese

[13:53] {Threei} GM Reportedly GM to draw on Government loan in coming days - WSJ

[13:53] {Threei} **Note, earlier today GMAC was to sell $3B in FDIC backed 3-year bonds

[13:53] {ese} what the f&^% is that

[13:53] {nemo} wine

[13:53] {nemo} ask K

[13:54] {ese} wow never heard of tit

[13:54] {ese} it

[13:54] {nemo} arguably the best Riesling on the Mosel

[13:59] {Raven} Trockenbeerenauslese

[13:59] {nemo} yeah...if you can find it

[13:59] {Raven} I get it at the gas station

[14:00] {Threei} lol

[14:00] {ese} ha ha ha ha ha rotfl

[14:00] {nemo} I'm visiting my uncle for Thanksgiving...he's got two bottles of auslese

[14:00] {Raven} Speedway

[14:00] {nemo} We both no better than that Raven

[14:00] {ese} man.......now that made my day

[14:00] {nemo} know

[14:00] {Raven} lol

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

[14:00] {Threei} - NYSE volume 955M shares, about 40% above its three-month average; decliners lead advancers by 6.3:1.

[14:00] {Threei} - NASDAQ volume 1.76B shares, about 21% above its three-month average; decliners lead advancers by 3.6:1.

[14:00] {Threei} - VIX index +7% to just over 26.50

[14:01] {nemo} hell most "wine" stores don't carry it

[14:02] {Raven} too sweet anyway

[14:03] {nemo} Trocken...yeah...but I'd suffer through a Doktor, Graben, or Schloss Vollrads

[14:03] {Raven} Moonshine works for me

[14:03] {nemo} works for me too...just more painful to drink

[14:03] {Raven} does not take as much

[14:04] {nemo} helluva' lot cheaper though...not counting the ulcers

[14:04] {Raven} more toxic aldehydes and keytones in the wine

[14:04] {Raven} good shine is just CH5OH

[14:05] {nemo} I'll get over it

[14:07] {fernp} have to go. see you all tomorrow. good evening

[14:07] {Threei} take care fern

[14:09] {nemo} aig

[14:10] {dino} psys stopped -.25

[14:12] {Threei} I'll be very surprized if we make new low today

[14:14] {dino} coin toss imo

[14:16] {Threei} Short Setup: QID .44

[14:16] {Threei} if stays under .50

[14:16] {Threei} not a scalp looking for sizeable market bounce

[14:17] {nemo} you mean "drop"?

[14:17] {Threei} ??

[14:17] {Threei} it's QID

[14:17] {nemo} nevermind..IDIOT ME!

06[14:17] * nemo slaps nemo around a bit with a large trout

[14:18] {Threei} invalidated but watching for reestablishment

[14:18] {Threei} HIG should be bounce-ready around .60

[14:20] {nemo} vwap on hig is .60

[14:20] {dino} you were saying 3i?

[14:20] {dino} lows coming

[14:21] {Threei} so I'll be surprized

[14:21] {nemo} Lari!

[14:21] {Threei} won't be a first

[14:22] {Threei} HIG is ready with market help

[14:22] {dino} dji new lows

[14:23] {Threei} crap

[14:23] {dino} ndx surprise too

[14:23] {Threei} look what kills the market:

[14:23] {Threei} NY Fed Advisor: FOMC could change therate language nex tweek

[14:23] {dino} spx surprise

[14:23] {Threei} this is what stopped bounce in its tracks

[14:23] {nemo} no...not the language...anything but that

[14:25] {Threei} caught .56 on HIG

[14:26] {Threei} Auto Industry Group: Expecting China to initiate an anti dumping case against the Big 3 in the US; have not yet seen specifics

[14:26] {Threei} wtf

[14:28] {Threei} - Reports indicate that approx 9K vehicles are exported to China from the Big 3

[14:28] {Threei} yeah, that floods China with US-made cars

[14:28] {nemo} yeah...and they buy what...a million a month

[14:31] {Threei} Short Setup: QID .55 break if stays under .60

[14:32] {strider} what's the setup here?

[14:32] {Threei} double top

[14:32] {strider} k

[14:32] {nemo} 2nd peak inside bollinger bands

[14:35] {dino} psys rined

[14:36] {ese} gotta go all.......we have Chaka Khans daughter coming to see us at rehearsal today.....gonna be a fun day

[14:36] {Threei} take care ese

[14:36] {ese} cya vad

[14:36] {dino} cool

[14:37] {ese} yup

[14:37] {Threei} come on already market, it's time

[14:37] {Threei} sigh

[14:44] {Threei} can't get a grip on this moment

[14:44] {Threei} everytbhing was in place for a nice juicy bounce,

[14:44] {Threei} then this headline came about

[14:44] {Threei} and spooked players

[14:44] {Threei} whole dynamic changed

[14:45] {Threei} and btw, guess who is on TV

[14:45] {nemo} Kyra Sedgwick?

[14:45] {Threei} inventive

[14:46] {nemo} thank you...i guess

[14:46] {Threei} AIG...

[14:46] {Threei} mags... you here?

[14:47] {Threei} feels like fireworks coming... no technicals whatsoever though

[14:48] {magoo} up?

[14:48] {Threei} yeah

[14:49] {magoo} ok in

[14:49] {magoo} .96

[14:51] {Threei} does this qualify as fireworks?

[14:51] {magoo} no points does

[14:52] {magoo} like 38

[14:52] {Threei} eeck

[14:54] {Threei} US Pres Obama has signed $680B defense authorization bill for 2010

[14:54] {Threei} I just wish I knew why it must be done on TV

[14:57] {Threei} 50 cents

[14:58] {nemo} Propaganda Ministry

[14:58] {Threei} I knew it was your trade mags

[14:58] {Threei} personalized call

06[14:58] * Threei slaps magoo around a bit with a large roll of cash

[15:02] {dino} apol back to may levels

[15:02] {Threei} (EU) ECB's Noyer: no reason to raise interest rates at this time; US has everything to gain from strong USD

[15:02] {Threei} - No reason to believe global growth cannot return to 5% in coming years

[15:02] {Threei} - Many uncertainties remain in 2010 growth

[15:02] {dino} 52 week low 52s

[15:03] {Threei} dino... -40-50 is my finish bet

[15:04] {Threei} larisa is not here to take middle ground

[15:04] {Threei} so it's polarized bet, yours against mine

[15:05] {dino} the efficient market strikes again, see bidu, lol

[15:05] {Threei} lol

[15:05] {Threei} so, your call?

[15:05] {dino} my bet 3i towards lows, say 9770s

[15:05] {dino} so -95ish

[15:06] {Threei} I really want to put my money on that and short QID but this bouncing around just won't let me find a good entry

[15:14] {Threei} wow, am I off or what

[15:14] {dino} feels heavy

[15:16] {dino} all, trv held strong

[15:26] {Threei} RCL...

[15:27] {Threei} if stays uner .80, short on low break

[15:33] {Threei} Market Internals update at 3:30pmET

[15:33] {Threei} - NYSE volume 1.25B shares, about 42% above its three-month average; decliners lead advancers by 10.9:1.

[15:33] {Threei} - NASDAQ volume 2.29B shares, about 21% above its three-month average; decliners lead advancers by 5.1:1.

[15:33] {Threei} - VIX index +9% to just over 27.00

[15:33] {Threei} wow... serious volume came in today

[15:34] {Threei} (US) Consumer Group: US sugar supplies are inadequate and USDA should increase import quotas (related JJG IPSU )

[15:34] {Threei} are we running out of sugar?

[15:34] {Threei} last year it was rice, right?

[15:38] {nemo} cya tomorrow folks

[15:39] {Threei} take care nemo

[15:39] {Threei} dino you win

[15:40] {Threei} I really doubt on last 20 min we bounce that much as I need to save my bet

[15:43] {dino} anything's possible in this market.

[15:49] {dino} some brutal 2-3 day pullbacks

[15:53] {strider} See you guys tomorrow...

[15:54] {Threei} take care strider

[15:55] {strider} :)

[15:55] {dino} cya

[15:56] {dino} s/p gap 1040, oct 6

[15:59] {Threei} thank you asll

[15:59] {Threei} have a good evening, see you tomorrow

[15:59] {lasertrev} see ya

[16:03] {dino} fslr blood

[16:04] {Threei} First Solar Inc. Reports Q3 $1.79 v $1.74e, R$481M v $529Me

[16:04] {Threei} - Guides FY09 R$1.98-2.03B v $2.0Be (Guided FY09 R$1.9-2.0B on 7/30)

[16:05] {Threei} SYMC Reports Q2 $0.36 v $0.33e, R$1.47B v $1.43Be; Announces $1B buyback

[16:06] {dino} itri whack a mole

[16:07] {dino} who was asking on fslr today? pain

[16:07] {Threei} then more pain

[16:08] {Threei} if magoo wakes up and sees FSLR at 70 tomorrow, he will buy all shares there is

[16:08] {Threei} AKAM Reports Q3 $0.18 v $0.35e, R $206.5M v $199Me - Update

[16:09] {Threei} - The number of customers under recurring contracts at the end of the third quarter increased to a record 3,031, an 8 percent increase year-over-year.

[16:09] {dino} fslr gap around 122

[16:09] {dino} akam, nongap .38

[16:13] {dino} ok tomorrow big up, cramer just posted 9500 coming

[16:15] {Threei} here comes my bounce

[16:15] {dino} gn all

[16:15] {Threei} take care