Nov 12 2009

Nice active day with quite a few calls and good percentage of winning (6 out of 8 or something like that) Major hero of the day was RIMM, quite nicely obeying on both long and short side. Other than that AMD and AIG (both on short side) added a bit to profits.

Session Time: Thu Nov 12 00:00:00 2009

[08:16] {BillyD} GM all

[08:17] {nemo} BD :)

[08:17] {Threei} BLTXX Baltic Dry Bulk Index 5.5% (11th straight gain)

[08:18] {Threei} Good morning

[08:18] {Threei} (US) Preview: Initial Jobless Claims and Continuing Claims due out at 8:30amET

[08:18] {Threei} - Expectations for initial claims are 510K v prior release of 512K (range seen from 495K to 525K) - Continuing claims seen at 5.700M v prior 5.749M (range seen from 5.675M to 5.788M) ***Note: The last reading of initial cliams below 500K was back Jan 2nd 2009

[08:19] {Threei} can yuou believe losing half million jobs every week became kind of norm?

[08:19] {strider} Morning vad. What does the BLTXX tell us?

[08:20] {nemo} yeah...that's why I just want to smack the _____! when they say the trend is down. That's 20 million jobs this year

[08:20] {Threei} this is Baltic Dry Shipping index strider

[08:20] {Threei} DRYS, EGLE are dry shippers for instance

[08:20] {Threei} sometimes they react on this data

[08:21] {strider} k. thanks.

[08:21] {Threei} and overall, shipping trends reflect to a certain degree what's happening with global economy

[08:21] {Threei} as in, if we go down in flames we are not very likely to ship much to each other

[08:23] {nemo} frickin' aig

[08:23] {Threei} (US) Fed's Plosser: Excess reserves can have inflationary effect if they flow into economy too quickly, Strong global economy and weaker US economy means USD will depreciate

[08:23] {Threei} - Need to be aware of Gold, other asset prices and fx levels. - No firm decisions have been made on which exit tools to use and in what order. - Mush easier politically for Fed to begin selling treasuries than MBS - Idea of Fed issuing its own bill is "not good strategy" is not aware of any plans to do so

[08:24] {strider} Barrick shuts hedge book as world gold supply runs out

[08:24] {strider} Global gold production is in terminal decline despite record prices and Herculean efforts by mining companies to discover fresh sources of ore in remote spots, according to the world's top producer Barrick Gold.

[08:25] {Threei} who needs it anyway

[08:29] {Raven} Dentists

[08:29] {Threei} USSR is no more R...

[08:29] {nemo} nah, they use that bonding stuff now Raven

[08:29] {Raven} I just had a gold one installed

[08:29] {Threei} US) INITIAL JOBLESS CLAIMS: 502K V 510KE;

[08:30] {Threei} CONTINUING CLAIMS: 5.631M V 5.700ME

[08:30] {nemo} and you probably fly 1st class too

[08:30] {Raven} I hate flying except on my own wings

[08:30] {nemo} touche

[08:32] {Raven} gold teeth are a tip for the undertaker ...

[08:32] {nemo} love it

[08:32] {Raven} sigh

[08:33] {nemo} wait a minute!

[08:33] {nemo} you've got a beak!

[08:33] {Raven} remain calm

[08:33] {nemo} I'm sorry, obfuscation and prevarication do that to me

[08:34] {Raven} pills prolly available

[08:37] {nemo} so Bloomber Headline "Initial jobless claims in US fall more than estimated to a 10-month low" sheesh

[08:37] {Threei} I guess formally it's true

[08:38] {nemo} yeah, back to the blue pill or the red pill

[08:40] {nemo} hah...another Bloomberg...Foreclosure filings surpass 300k for the 8th consecutive month

[08:40] {Threei} so they have optimist and pessimist on hand

[08:40] {nemo} fair and balanced

[08:40] {Threei} and they write headlines

[08:41] {Threei} reality in nothing, spin is everything

[08:41] {Threei} in = is

[08:41] {nemo} yes comrade

[08:42] {Les} bonjour M & M's

[08:42] {Threei} morning Les

[08:42] {nemo} afternoon les

[08:42] {Threei} do elaborate who of us you labeled as M and who - M

[08:42] {Les} madames et messieurs

[08:42] {nemo} Metro

[08:43] {Les} COMS gonna give us a play today Vad?

[08:43] {Les} or is the HP deal done signed and delivered

[08:44] {Threei} buyout usually nails the price down

[08:44] {Threei} unless there is a concern about it being rejected

[08:44] {Threei} on company of anti-trust commettee

[08:44] {Threei} umm

[08:44] {Threei} let me try again

[08:45] {nemo} don't hurt yourself

[08:45] {Threei} on company or anti-trust committee level

[08:45] {Threei} still wrong but understandable

[08:45] {Threei} lol

[08:46] {Les} ok. seems there was a loser in this deal. BRCD. let's see how the market takes to them today.

[08:46] {Threei} yeah, they were one of candidates

[08:48] {Les} following another traders comments on AIG yesterday

[08:48] {Les} http://ibankcoin.com/chart_addict/2009/11/12/the-good-and-the-bad-volume-follow-through-happy-b-day-ibc/

[08:48] {Les} so descending wedge is enough to send AIG ballistic like that?

[08:48] {Les} is that normal for AIG?

[08:49] {nemo} yep

[08:49] {Threei} there is not much normal as far as AIG is concerned

[08:49] {Threei} AIG and normal do not exchange postcards on Christmas

[08:49] {nemo} it was off it's meds yesterday

[08:49] {nemo} its

[08:51] {Threei} I showed this pattern on AIG last week

[08:51] {Threei} problem with it is, there is no way to tell when it explodes like this

[08:51] {Threei} there is no trigger for the spike

[08:52] {Threei} and it forms like 3-5 of such vedges before one of them works

[08:52] {Threei} it could be second one or 6th

[08:52] {Threei} good luck quesssing

[08:52] {Threei} guessing too

[08:52] {Les} ok. so you can make full time career just watching AIG

[08:52] {Threei} if you find an idiot who will pay you for watching, sure

[08:53] {Les} :D

[08:53] {Les} what is on your list today?

[08:53] {Threei} usual suspects

[08:54] {Les} that title sounds familiar...

[08:54] {Les} great movie

[08:54] {Threei} which reminds me... it's been on my lost to watch again for a while

[08:55] {Threei} list

[08:55] {fernp} Good morning everybody

[08:55] {Threei} fern :)

[08:55] {Les} hola

[08:56] {fernp} buenos dias Les

[08:56] {ese} good morning

[08:57] {Threei} ese :)

[08:57] {Les} morn ese

[08:57] {ese} vad les

[08:59] {Threei} wow

[08:59] {Threei} INTC Halted: news pending (19.84, 0.00, 0.00%) (related AMD DELL )

[08:59] {Threei} SMD explosion

[09:00] {Threei} AMD sorry

[09:00] {Threei} INTC Settles all outstanding legal disputes wiht AMDl wil pay $1.25B (19.84, 0.00, 0.00%) (related AMD )

[09:00] {Threei} weird

[09:00] {Threei} why halt INTC and not AMD for this

[09:01] {Threei} announced a comprehensive agreement to end all outstanding legal disputes between the companies, including antitrust litigation and patent cross license disputes. - agreement ends the legal disputes and enables the companies to focus all of our efforts on product innovation and development. - , AMD and Intel obtain patent rights from a new 5-year cross license agreement, Intel and AMD will give up any claims of breach from the previous license agreement, and Intel will pay AMD $1.25 billion. Intel has also agreed to abide by a set of business practice provisions. As a result, AMD will drop all pending litigation including the case in U.S. District Court in Delaware and two cases pending in Japan. AMD will also withdraw all of its regulatory complaints worldwide. The agreement will be made public in filings with the Securities and Exchange Commission.

[09:07] {ese} thats a reall good question

[09:08] {ese} short first then go long vad AMD

[09:09] {Threei} dunno... tocc a coin whether it retreats or breaks

[09:09] {Threei} very persistent buying

[09:09] {Threei} tocc= toss

[09:11] {Threei} volume will be enormous in AMD today

[09:11] {Threei} like half of NYSE, lol

[09:12] {Threei} and it looks more and more like break

[09:12] {larisa} gm :)

[09:12] {Threei} larisa :)

[09:12] {larisa} vad :)

[09:12] {lasertrev} morning

[09:13] {Threei} trev :)

[09:15] {Threei} here comes break

[09:16] {nemo} Trev dcc

[09:16] {Threei} and another

[09:16] {Threei} even if unsuccessful in terms of big run, new highs are enough to shake out premature shorts

[09:16] {Threei} which is to confirm one more time: do not ashort hot runner

[09:17] {magoo} morning

[09:17] {Threei} as if yet another confirmation was needed

[09:17] {Threei} morning mags

[09:17] {Threei} {AMD} let me reiterate: do NOT short hot runner

[09:18] {bkhmd} good morning all

[09:18] {Threei} bk :)

[09:18] {ese} bk

[09:18] {Les} afternoon bk

[09:19] {dino} gm all

[09:19] {bkhmd} les where are u sir

[09:19] {Threei} dino :)

[09:19] {bkhmd} must be across the pond

[09:19] {Les} land of chocolate and cheese

[09:20] {Threei} yeah, we have a few of those defending the old continent against us barbarians

[09:20] {bkhmd} lol

[09:20] {Les} Barbarians being Canadians or Ukrainians?

[09:20] {Threei} both actually

[09:20] {Threei} lol

[09:20] {dino} cheese, one of my favorite things

[09:20] {Les} :)

[09:22] {Les} useless fact: "Swiss" cheese with holes in it is from small German speaking town in Central Swiss - Emmentaler

[09:22] {Les} many, many cheeses to be found in situ...

[09:23] {larisa} why do we talk about cheese if we can talk chocolate?? :)

[09:23] {Threei} lol

[09:24] {Les} there is special chocolate train just up the road from my place. takes you to Nestle factory

[09:24] {Les} I see what you mean about Fed policy affecting others...

[09:25] {Les} World banks prop up dollar. Central banks say they've been snapping up dollars this week in an effort to stem its slide and hold down the value of their currencies. While Geithner continues to pay lip service to maintaining a strong dollar, Washington has yet to take any concrete steps to stop the bleeding, which is beneficial to U.S. exports and tourism.

[09:25] {Threei} AMD volume is likely to be overwhelming at the open

[09:25] {ese} lots of Ukranian jokes use to fly around Saskatchewan..."did you hear the one about the ukranian who spent 4 days in sears looking for wheels for a mis carriage?

[09:25] {Threei} lol

[09:25] {ese} thought that manual labour was the president of Mexico

[09:25] {Les} haha

[09:26] {ese} put iodine on his paycheck because he got a cut in pay

[09:26] {Threei} it's like elephant in the room Les... you may hate the proximity but can you ignore it for too long?

[09:26] {ese} took a roll of toilet paper to a crap game

[09:27] {ese} and so on and so on.......good times....my best friend was ukranian as a kid

[09:27] {Threei} rofl

[09:27] {Threei} then he ceased to be ukrainian?

[09:29] {Les} so you looking for setup in RIMM Vad?

[09:29] {ese} we played in the Regina Police Boys Band together

[09:30] {nemo} you mean musical instruments ese?

[09:30] {Threei} market is open in case you haven;t noticed

[09:30] {ese} ha ha ....yes

[09:30] {nemo} watchin rimm

[09:30] {Les} sorry, not RIMM, AMD..

[09:30] {Threei} yes

[09:30] {dino} brcd

[09:31] {Threei} BRCD is hurt by COMS buyout

[09:32] {dino} hurt pretty bad

[09:32] {Threei} Short Setup: RIMM .60 break half lot

[09:32] {Threei} stop above .80

[09:32] {nemo} quotes frozen again

[09:33] {larisa} fine here

[09:33] {Threei} RIMM 1:1

[09:33] {nemo} must be my system

[09:33] {dino} cedc

[09:33] {Threei} covered .35

[09:33] {BillyD} good one, missed it

[09:34] {magoo} missed

[09:34] {fernp} missed RIMM my level2 was frozen

[09:34] {tomg} ty vad

[09:34] {Threei} :)

[09:34] {nemo} yeah, that's what happened to me fern

[09:34] {Les} nice work. my colour recognition failed there. Was looking to buy until you said stop above .80

[09:34] {Threei} hmmm

[09:34] {Threei} word short didn't clue you in?

[09:35] {Les} no coffee excuse, had plenty of that today...

[09:35] {Les} my bad

[09:36] {Les} so receding volume in AMD suggests healthy consolidation?

[09:36] {Threei} so far looks this way

[09:37] {Threei} Long Setup: AMD .65 if stays above .50

[09:38] {Threei} available for shot btw

[09:38] {nemo} break's .50 looking short

[09:38] {Threei} .50 break can be a short trigger

[09:39] {fernp} with stop above .65?

[09:39] {Threei} formally yes

[09:39] {dino} ttek

[09:39] {Threei} I'd prefer .60...

[09:39] {Threei} OK here it goes

[09:40] {fernp} covered .40 ty

[09:40] {Threei} :)

[09:40] {Threei} whoa

[09:40] {Threei} OPTR

[09:40] {Threei} what the deuce

[09:41] {dino} stewie

[09:41] {fernp} m: Optimer Pharm upgraded to Outperform from Perform at Oppenheimer

[09:42] {Threei} OPTR UPDATE: Oppenheimer Raised OPTR to Outperform from Market Perform, price target: $16

[09:42] {Threei} AIG Reportedly considering drawing from a Fed credit line to repay some commercial paper

[09:42] {Threei} - notes $5.8B in commercial paper that is due in Jan (37.11, +0.36, 0.98%)

[09:42] {fernp} can I short again AMD li loses .40?

[09:43] {fernp} if

[09:43] {Threei} if holding under .50

[09:43] {Threei} JDSU???

[09:43] {Threei} got cramerized yesterday

[09:43] {Threei} guess who is on TV

[09:44] {fernp} then I wont short

[09:44] {bkhmd} Melissa Lee?

[09:44] {bkhmd} lol

[09:44] {bkhmd} my favorire

[09:44] {Threei} you wish

[09:45] {Threei} RIMM formed .40 - .60 range

[09:45] {Threei} looks to me like upside break is more likely

[09:46] {Les} would it qualify as an inverse H&S?

[09:48] {Threei} 1:1

[09:48] {BillyD} so was that RIMM mention an official call

[09:48] {BillyD} I wasn't sure

[09:48] {Les} ah you were playing it?

[09:48] {Threei} gosh

[09:49] {Threei} explain to me someone why does it matter?

[09:49] {Threei} I show you formation, you like it - you take it

[09:49] {Threei} you don't - you skip

[09:49] {larisa} cause i have alert on official ones :)

[09:49] {BillyD} fair enough

[09:50] {Threei} on inverse H&S:

[09:51] {Threei} formally yes but valid patterns like this usually shgould be formed over longer time than just a few bars

[09:51] {dino} cedc hl l .00

[09:51] {Threei} I wouldn't put too muct faith in 5-10 min formation when we are talking about such multicomponent one as H&S

[09:51] {Threei} or C&H

[09:51] {Threei} simple range forming, sure

[09:51] {Les} ok

[09:52] {fernp} CBST breakout on daily

[09:52] {Threei} CBST Hearing takeover chatter circulating

[09:52] {Threei} - NVS rumored as potential acquirer (17.63, +0.19, 1.09%) (related NVS )

[09:52] {fernp} tks

[09:52] {Threei} they just find stoxcks near highs and start rumors

[09:53] {BillyD} lol

[09:53] {Threei} so they have additional benefits of scanners going off all the world

[09:54] {dino} ttek hl l .00

[09:54] {Les} JDSU consolidating

[09:54] {Threei} that rumor bunker under the Gossip plaza in the Hearsay city works like charm

[09:55] {dino} i believe it's gotham city

[09:55] {dino} w/joker in charge

[09:56] {Threei} DRYS is worming its way up

[09:56] {Threei} MSFT 52 week high

[09:57] {fernp} INTC on highs

[09:57] {Threei} and BIOS, 75 cents up from swing trade alert

[09:57] {strider} dino where do you see a stop o CEDC?

[09:58] {dino} .73

[09:58] {dino} .83 for ttek

[09:59] {strider} thx

[09:59] {fernp} Vad, I know a guy who bought your BIOS call at 8.0

[09:59] {Threei} hmmm... is he in hiding?

[09:59] {dino} cedc issuing stock to buy russian vodka producer, or somethin like that

[10:00] {BillyD} he reads the trade logs

[10:00] {dino} then he bought day late, lol

[10:00] {fernp} no, he is buying INTC breakout now

[10:00] {BillyD} lol

[10:00] {Threei} actually, maybe not

[10:01] {Threei} BIOS sat around break level for couple days after I talked about it

[10:02] {ese} have you looked at GMCR dino

[10:04] {dino} all morning

[10:04] {dino} 10:04 drop makes me pause

[10:04] {ese} well alrighty then.....watch ya thinkin

[10:06] {dino} thinking zip down again is buy small size

[10:07] {dino} don't want to buy middle of range

[10:07] {ese} L gmcr.68 sm

[10:07] {bkhmd} drys wants to bounce if we get some help from market

[10:07] {dino} cedc stopped -27

[10:09] {dino} will retry lower

[10:11] {Threei} time to start looking for shorts IMO

[10:11] {Threei} this RIMM bounce

[10:11] {nemo} cat too

[10:11] {Threei} Short Setup: RIMM .35

[10:11] {Threei} if stays below .50

[10:12] {ese} out gmcr .92 +.24

[10:12] {dino} gj

[10:12] {ese} tks.......wasn't sure there for a bit....almost got stopped

[10:12] {Threei} it's aggressive entry on RIMM

[10:13] {Threei} actual break is .20, want to cover half there

[10:13] {bkhmd} too late to get in?

[10:13] {Threei} why

[10:14] {dino} mkt drop, ttek to flat

[10:14] {Threei} it's right there

[10:14] {bkhmd} in

[10:15] {dino} ttek flat out

[10:16] {BillyD} out RIMM +.14

[10:16] {BillyD} ty

[10:17] {Threei} 1:1, half out

[10:17] {ese} l gmcr sm .37

[10:17] {Threei} welcome sir

[10:17] {dino} dxd l .70

[10:17] {Les} ty vad

[10:17] {Threei} bidding 1/4 more .10

[10:17] {Threei} {--- getting greedy

[10:17] {Threei} welcome les

[10:18] {Threei} stop to above .40 btw

[10:18] {BillyD} good read on RIMM, it looked to bounce to me

[10:19] {Threei} stop to above .35

[10:20] {tomg} out .14, ty vad

[10:20] {Threei} :)

[10:21] {Threei} canceling .10

[10:21] {Threei} if it breaks, should be able to get a bit better price

[10:21] {Threei} will try to cover 1/4 into fast dive

[10:22] {fernp} great play vad. I had to cover with +.05 due to my qutes. But great play

[10:22] {Threei} ty

[10:22] {Threei} hey, and with offical alert

06[10:23] * Threei is squinting at larisa

[10:23] {Threei} ALTU Shares halted; news pending (0.07, -0.03, -33.80%

[10:23] {ese} out gmcr .59 +.21

[10:24] {larisa} my favorie kind of call, official and matching my system :)

[10:24] {Threei} cool :)

[10:24] {dino} dxd stop to .59 can't make sense of mkt

[10:24] {BillyD} official alert helps me in that if not watching the stock mentioned, I don't have a feel for it and can follow you blindly:)

[10:24] {Threei} hehe

[10:25] {ese} L egle .55 L exm .75

[10:25] {Threei} oh come, don't shake out second half

[10:26] {dino} out dxd .68-.02

[10:26] {Threei} whatever

[10:26] {Threei} scalpers win

[10:26] {BillyD} you still had 1/2 win :)

06[10:26] * Threei is squinting at fern

[10:27] {fernp} i took +.05 Not happy :(

[10:28] {BillyD} better than -.05 :)

[10:28] {fernp} a lot of problems today with quotes

[10:28] {Threei} copme on... quotes problem is quotes problem

[10:28] {Threei} it's RIMM

[10:28] {Threei} it will chew you up and spit you out if you are not quick as hell

[10:29] {Threei} speaking of quotes.. dino, mags, did cable guy help?

[10:29] {fernp} that's the reason why i covered

[10:29] {Threei} right... so don't be upset

[10:30] {Threei} one has to work within one's limitations

[10:30] {Threei} look at me for instance... too stupid to understand financial statement, so I day trade

[10:30] {fernp} right. no problem

[10:31] {fernp} lol

[10:32] {dino} yes for me definitely, but i think magoo is having issues

[10:32] {dino} rinse r roni morning so far

[10:32] {dino} feels like last friday, scalps

[10:32] {tomg} amd vad?

[10:33] {Threei} kind of flattened out...

[10:33] {Threei} can't give preference to any side on it

[10:33] {dino} ttek l .00

[10:33] {tomg} k

[10:33] {fernp} Vad, let dino and mags alone, they're watching porn with their new super-fast-cable connection

[10:34] {Threei} right... what was I thinking

[10:34] {nemo} HD porn

[10:34] {Threei} no, I was not thinking that

[10:35] {bkhmd} its ur story Vad stick to it

[10:35] {bkhmd} lol

[10:35] {Threei} lol

[10:35] {dino} larisa, i don't get any respect

[10:35] {nemo} sticky?

[10:35] {BillyD} dino, it's the association label

[10:36] {larisa} lol

[10:36] {Threei} lol

[10:36] {dino} cedc hl l .72

[10:36] {dino} lol

[10:36] {strider} vampires get no respect.

[10:36] {BillyD} hope magoo is offline ...hehe

[10:36] {nemo} his feelings are hurt :(

[10:36] {dino} brcd nice rang .11-.23

[10:37] {Threei} magoo has feelings?

[10:37] {Threei} aside from those for cable guy

[10:38] {dino} tangent again huh

[10:38] {ese} I hate that....you know your right and your just about to pull the trigger and it shoots up .30 cents......daaaaaaaa!! gmcr

[10:38] {nemo} wow...vad

[10:38] {nemo} going short ese :)

[10:38] {Threei} ?

[10:38] {ese} long

[10:39] {nemo} I know

[10:39] {nemo} cmon' I'm staying in character....sheesh

[10:39] {Threei} what wow?

[10:39] {ese} check it out now dino

[10:40] {dino} gmcr, yeah, i don't understand it

[10:40] {Les} double top spy?

[10:40] {dino} better worlds imo

[10:41] {nemo} you want help getting there Dino?

[10:41] {dino} i may already be there nemo

[10:41] {ese} up a buck from where i just missed it......shoulda coulda woulda i guess....reflexes not fast enough

[10:41] {nemo} not if you're in the same world as me, dude.

[10:42] {ese} how do you mean nemo

[10:43] {BillyD} JDSU interesting as it relates to daily

[10:43] {Threei} not really les

[10:43] {Les} RIMM is jammed between 50 & 20 ma on 15min. lets see which way it goes

[10:43] {nemo} hah...double nought spy

[10:44] {nemo} PUKE!!

[10:44] {Les} what?

[10:44] {nemo} Vad's new window saying

[10:44] {dino} ttek stop is .67 fwiw

[10:44] {Les} do I need to buy crystal ball?

[10:45] {dino} just use a coin les

[10:45] {ese} whaaaaaaaaa......embrace the clairvoyance......huhhhhhhh

[10:45] {dino} and keep your stop

[10:45] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 11:00amET

[10:45] {Threei} **consensus expectations:

[10:45] {Threei} Crude: +900Me

[10:45] {Threei} Gasoline: -300Ke

[10:45] {Threei} Distillate: -600Ke

[10:45] {Les} I already use a coin dino...

[10:46] {dino} me too.

[10:47] {ese} am lovin egle and exm

[10:48] {ese} veeeee aire sitting own 10 k etch........

[10:49] {dino} brcd l .25

[10:49] {BillyD} Vad, BCRX .10 area again seems to have been the ticket

[10:49] {Threei} INTC FTC comments on recent settlement with AMD; is conducting an independent investigation of INTC

[10:50] {dino} but of course, the govt will decide if allowed to make $

[10:50] {Threei} well, benefit of hindsight sure helps with clairvoyance, doesn't it {G}

[10:50] {BillyD} it's safer

[10:51] {ese} well.........the more i think about it the more i think we are using clairvoyance....because we certainly AIN'T deelin in reality here!

[10:51] {Threei} why not?

[10:51] {dino} ttek stopped -.33\

[10:52] {Threei} we are eschewing anything but price action

[10:52] {Les} BID any good for a bid Vad?

[10:52] {Threei} which is ultimate reality

[10:52] {ese} eschewing....not sure I know the meaning of that word as it pertains to us

[10:53] {_esteban} hi everybody

[10:53] {Threei} I've no idea but it sounds too tasty for me to skip

[10:53] {Threei} hi esteban

[10:53] {Les} afternoon esteban

[10:53] {ese} esty.......

[10:54] {ese} the trumpet player in my high school r&b band is esteban

[10:54] {ese} we call him esty for short

[10:54] {_esteban} jaja

[10:55] {tomg} 'avoid' maybe better word for eschew?

[10:55] {ese} ahhhhh

[10:56] {Les} INTC turning red

[10:56] {tomg} there goes rimm

[10:57] {Threei} no tom

[10:57] {Threei} avoid is plain vanilla

[10:58] {ese} my dry bulk shipping index i totally green except for egle dn .02.......

[10:58] {ese} is

[10:58] {Threei} whole three weird words in a single setnence is what attracted me :)

[10:58] {tomg} i was just thinking, avoid like the plague, or avoid evil

[10:58] {nemo} embrace evil

[10:59] {tomg} eschew aig :)

[10:59] {Threei} and deliver me from GOOG

[10:59] {nemo} well...if the setup sucks...yeah

[10:59] {tomg} :) good one

[11:00] {Threei} *DOE CRUDE: +1.7M V +900KE; GASOLINE: +2.6M V -300KE; DISTILLATE: +350K V -600KE; CAPACITY UTILIZATION: 79.9% V 80.6%E

[11:01] {nemo} think I'll wait until tomorrow to fill up

[11:05] {Les} magoo been banned?

[11:05] {Threei} no single stop today yet, right?

[11:05] {dino} cf, esc getting interesting

[11:05] {Les} $ making a run for it.

[11:06] {dino} coordinated buy effort announced this a.m.

[11:07] {Threei} so, can we conclude that it's a very smart policy by powers that be

[11:08] {Threei} they haven't spent a single cent trying to support dollar, got all the benefits of aits weakness, and now got others to support it

[11:08] {dino} no they usually waste their money, but short term pop, day or two, imo, but currency markets are too big

[11:08] {tomg} rimm short ?

[11:08] {bkhmd} thinking same it didnt follow market down

[11:08] {dino} altho, we, the usa, should just say; "thank you suckers"

[11:08] {Threei} not sure tom

[11:09] {tomg} ty

[11:09] {Threei} ratjher yes than no, but not very clear,

[11:09] {Threei} and no clean entry point

[11:09] {tomg} just watching

[11:09] {nemo} grasp the clairvoyance vad....sheesh

[11:11] {Threei} I am not there yet nemo

[11:11] {Threei} for now I am stuck at eschewing the ambiguity stage

[11:11] {nemo} how long you gonna' be there?

[11:12] {Threei} don't know... it's a process

[11:12] {Threei} look at RIMM

[11:12] {Les} Vad, what you're refering to there is "beggar thy neighbour" politics, and we know where that lead us before...

[11:12] {nemo} how many years you been there?

[11:12] {Threei} bounce while market contin ues dropping

[11:12] {Threei} I don't like this dissonance

[11:13] {Threei} one important distinction Les: when the beggar has a nice arsenal and doesn't heistate to use it, it's not a beggar, it's robber :)

[11:13] {nemo} hehehehe

[11:13] {Les} lol

[11:14] {nemo} It's the PPT's HFT's algo guys

[11:14] {dino} right call it what it is

[11:15] {Threei} he is back:

[11:15] {Threei} . Boone Pickens: Predicts $100/bbl oil in 2010

[11:15] {Threei} - Back on 10/06 Pickens predicted crude would average over $80 in 2010

[11:16] {Threei} he already predicted that oil would never lose 120, then 100

[11:16] {dino} \don't care, glad he's back

[11:16] {nemo} phewwww...I thought you were talking about the savior

[11:16] {Threei} tom... aren't you glad I was against RIMM short

[11:17] {dino} he may be for me nemo, pickens plan

[11:17] {tomg} yep, just gonna say i'm glad i eschewed it

[11:17] {Threei} lol

[11:17] {bkhmd} eschewed new term? I missed it

[11:17] {bkhmd} lol

[11:17] {Threei} good job adopting the thesaurus

[11:17] {nemo} just put a pinch between your cheek and gums

[11:17] {Threei} look new room topic bkh

[11:18] {dino} gmcr

[11:18] {Threei} that first short we played on RIMM was clean setup

[11:18] {Threei} now it's muddy

[11:18] {dino} cf hl l .00

[11:19] {Threei} actually, I start looking at it as long

[11:19] {Threei} pullback to .20 would be my area of interest for entry

[11:20] {dino} ttek bottomed imo

[11:20] {dino} hl l .75

[11:20] {dino} last try

[11:22] {Threei} get ready on RIMM

[11:24] {dino} esc hl l ave .32

[11:26] {Threei} just a bit more RIMM please

[11:26] {bkhmd} wow vad u have power

[11:26] {Threei} ok

[11:26] {Threei} .20 cross back

[11:27] {Threei} stop under .10

[11:29] {BillyD} out RIMM ty...got in .16

[11:30] {Threei} 1:1

[11:31] {tomg} out .28, ty vad

[11:31] {Threei} US) Fed issues new bank overdraft rules, making it tougher for banks to charge for ATM and debt overdrafts

[11:31] {nemo} they probably go into effect in 2012

[11:31] {Threei} since when it's Feds business

[11:31] {BillyD} Those types of fees is where majority of banks profits come from

[11:32] {BillyD} My friend works for Harris Bank

[11:32] {dino} out cf flat

[11:33] {Threei} Priceline.Com Inc GARP Research reiterates Buy rating

[11:33] {Threei} - Firm believes PCLN could double earnings by 2012 and can continue to gain share both at home and abroad and have raised their 2012 EPS estimate to $15 from $11.

[11:33] {Threei} hmmm

[11:33] {Threei} aren't qwe all supposed to perish in 2012?

[11:33] {nemo} bingo

[11:33] {Threei} I gotta watch that movie...

[11:33] {nemo} I got people on the inside

[11:34] {Threei} judging from spoilers, the amount of destruction is exactly to my statisfaction

[11:34] {dino} pcln selling moon tickets for that

[11:34] {nemo} you mean trailers?

[11:34] {nemo} mmmhhh...diving contests on the moon...springboard competition

[11:35] {Threei} I mean, if there is Statue of Liberty falling down, White House imploding and giant wave sweeping NY, what would go to movie for?

[11:35] {nemo} popcorn?

[11:35] {Threei} if there is no all that stuff

[11:35] {Threei} ugh

[11:35] {Threei} hate even smell of the darn thing

[11:35] {dino} roflol

[11:36] {Les} who's calling end times in 2012?

[11:36] {Threei} one single reason I go to movies only when I absolutely have to

[11:36] {nemo} where you been Les?

[11:36] {Les} to the toilet

[11:36] {Les} :)

[11:36] {nemo} look at monsanto chart...could be helluva' short

[11:37] {dino} 2012 end of days, mayans i thinl

[11:37] {nemo} in .60

[11:37] {Threei} if you ever hear on TV or read in the paper about me going berserk and tearing someone's arms off before biting off his head - you know the victim was eating the popcorn within 1 yeard from me

[11:37] {dino} of course jim jones thought it was about 25 years earlier

[11:37] {BillyD} the world did end for him and others dino

[11:38] {BillyD} self fulfilling prophecy

[11:38] {tomg} vad, you and clair are 4 for 4 on rimm

[11:38] {dino} good point

[11:38] {Les} my old man was prattling on about end times in 2000

[11:38] {Threei} cool beans tom... 5 out of 5 today I think

[11:38] {Threei} or 6

[11:38] {Threei} depending on what to consider a call and what just nusings

[11:39] {tomg} i got the 4 rimm , ty:)

[11:39] {Threei} musings

[11:39] {dino} gj vad, i suck today

[11:39] {dino} gmcr ese thoughts

[11:39] {Threei} so, now you guys have two things to eschew:

[11:39] {Threei} ambiguity and eating popcorn too close to me

[11:40] {BillyD} ambiguity is safer...lol

[11:40] {Threei} but by all means feel free to embrace the clairvoyancy and good steak

[11:40] {_esteban} anyone who has view bastard without glory from tarantino?

[11:40] {dino} you canadians are so in touch w/your feelings

[11:40] {Threei} with steak mostly dino...

[11:41] {dino} making me hungry

[11:41] {Threei} it calls Inglorious Basterds here esteban

[11:41] {_esteban} ahh ok....its good?

[11:41] {ese} hey dino....sorry was on the phone to The Czeck republic.....it's looking like our band tour is going to be there next week

[11:41] {ese} sorry n o thoughts on gmcr

[11:41] {dino} cool

[11:42] {dino} no worries

[11:42] {Threei} I like everything by Tarantino... although this one is not at par with his work IMO

[11:42] {dino} esc stopped

[11:42] {Threei} ese, need an official photographer on a trip?

[11:42] {_esteban} no much blood ah?

[11:42] {Threei} always wanted to go to Prague

[11:43] {ese} just might.....but i will probably be asking you a few questions though if thats ok

[11:43] {larisa} I am going there next August :)

06[11:43] * Threei slaps larisa around a bit with a large bag of envy

[11:44] {larisa} If you mix clairvoyance, clairaudience and clairsentience, you can afford it too, vad :)

[11:44] {strider} long CENX .10

[11:44] {ese} are you serious Laris.......because we will be there probably sometime in those first 2 weeks of august

[11:44] {dino} shaw l .11

[11:44] {dino} hl

[11:44] {BillyD} you just knocked me over Larisa :)

[11:44] {larisa} end of august, sept for me, visiting several other contries before that

[11:45] {Les} Off to see Vadim Repin tonight. Gotta get dinner ready. night all.

[11:45] {ese} whaaaaa.....if we get there....you gotta come and see us

[11:45] {Threei} take care les

[11:45] {dino} cvs hl l .75

[11:45] {Threei} say elo to him

[11:45] {Threei} hello

[11:45] {ese} see ya les

[11:45] {bkhmd} later les

[11:46] {Threei} RIMM looked to me like short off .20, but then volume on this bounce ruined the play

[11:46] {Threei} not sure again

[11:46] {BillyD} CHLN maybe short off .50

[11:46] {BillyD} dicey volume though

[11:47] {dino} unf

[11:49] {Threei} it looks breakdownish...

[11:49] {Threei} but I really wanted aggressive entry on it

[11:49] {Threei} RIMM I mean

[11:49] {Threei} can't make up my mind guys, decide for yourself if you like 64 break for short

[11:50] {fernp} too fast

[11:50] {tomg} missed it, dang it

[11:51] {Threei} eschew the chasing

[11:51] {nemo} me too dagnabbit

[11:51] {Threei} sheesh, I am having almost as much fun with eschew as I had with magoo and cable guy

[11:51] {tomg} no chasing here, going to lunch, see ya later

[11:51] {Threei} take care tom

[11:52] {Threei} 1;1

[11:54] {BillyD} you have RIMM dialed in today

[11:54] {Threei} had to find the replacement for HIG, didn't I

[11:55] {Threei} HIG outlived its usefullness

[12:03] {Threei} Long Setup: RIMM .80 break

[12:03] {Threei} if stays above .65

[12:04] {Threei} let's push our luck with it until first stop

[12:06] {Threei} I have to say, I expected much more life in AMD today

[12:06] {Threei} both volume and range wise

[12:06] {Threei} we got just one play out of it

[12:07] {Threei} hey Al Gore on Larry King today, will be telling us hat time is running out on global warming

[12:08] {Threei} he has no thermometer outside his window I suppose

06[12:08] * Threei kicks RIMM in rear

[12:08] {dino} and we peaked 10 years ago

[12:08] {BillyD} well, he did invent the internet

[12:09] {Threei} ain't that the truth, even though inconvinient

06[12:09] * Threei kicks RIMM in rear with stee toe heavy duty army boots

[12:09] {dino} papers are finally printing the temps

[12:10] {bkhmd} use marine boots it will jump

06[12:10] * Threei kicks RIMM in rear with marine boots

06[12:11] * Threei religuishes responsibity to bkhmd's shoulders

[12:11] {bkhmd} just my humble opinion it dont want to jump

[12:11] {Threei} RIMM... I mean today

[12:11] {Threei} move while we are young

[12:12] {Threei} {RIMM} too late for you

[12:14] {Threei} ok, now work, will ya

[12:15] {dino} ttek to .05

[12:16] {dino} out .10, +.35

[12:16] {Threei} wtg

[12:16] {bkhmd} Come on RIMMM I need lunch money

[12:16] {dino} ty

[12:16] {dino} gmcr re-test maybe coming

[12:19] {Threei} no go RIMM

[12:20] {nemo} actually I got .10

[12:20] {nemo} aggressive at .73

[12:20] {Threei} yeah, there are variances within it depending on kind of entry you chose

[12:20] {nemo} frankly lucky I'm chicken and scalped

[12:20] {BillyD} RIMM disconnected from mkt there

[12:21] {Threei} but I go of standard variation for record purposes

[12:23] {Threei} Short Setup: AIG .60 break

[12:23] {Threei} if stays under .70

[12:24] {nemo} too fast

[12:25] {strider} in .57

[12:25] {magoo} in .60

[12:25] {Threei} magoo woke up

[12:25] {fernp} tried .58 but not filled

[12:26] {bkhmd} glad u said that

[12:26] {bkhmd} I was cursing my broker

[12:26] {bkhmd} I didnt fill either

[12:27] {fernp} now i am filled :)

[12:28] {magoo} out

[12:28] {magoo} no like

[12:30] {Threei} ECB's Provopolos: Economic recovery is not a given, recovery to remain slow and fragile

[12:30] {Threei} aren't you ball of fire Provopolos... real soul of the party

[12:32] {Threei} die AIG

[12:32] {BillyD} good one Vad..took it at 1:1 from .63

[12:33] {Threei} 1:1

06[12:33] * Threei slaps magoo around a bit with a large banner "Have some faith man!!"

[12:35] {dino} pwrd gap fill

[12:36] {dino} cf hl l .85

[12:36] {dino} esc maybe worth another try

[12:36] {dino} -5 bucks couple days

[12:36] {Threei} result will be the same dino: active window will close up

[12:37] {nemo} stec strong today

[12:37] {dino} huh? active window?

[12:38] {Threei} sigh... I am not doing too good job eschewing ambiguity, am I

[12:38] {dino} lol

[12:38] {dino} ok

[12:38] {Threei} esc... as in key ESC on a keyboard

[12:38] {nemo} no...

[12:38] {nemo} oh tangent off my joke

[12:38] {dino} got it

[12:38] {nemo} thief

[12:38] {Threei} yeah, feeding on nemo's one

[12:38] {dino} i'm slow, distracted w/chicken wings

[12:39] {nemo} din of iniquity around here

[12:39] {Threei} hey, it's better than cable guy

[12:39] {dino} indeed

[12:39] {Threei} mags... I promise I'll run out of cable guy jokes in about day or two

[12:39] {magoo} )

[12:39] {dino} pru about filled gap

[12:40] {nemo} you ran out yesterday vad

[12:40] {Threei} but honstly... your "so excited cable guy will be here" kept me in stitches for days

[12:41] {Threei} and nemo... you are stats guy

[12:41] {Threei} what are we, 6 for 7 today?

[12:41] {Threei} {--- looking for excuse to go home

[12:41] {nemo} yeah...only one stop

[12:42] {bkhmd} u dont trade from home Vad?

[12:42] {nemo} joke bk

[12:42] {Threei} don't go there bkh, not with nemo around

[12:43] {Threei} you know that next step will be disacussing who wears what

[12:43] {Threei} or doesn't

[12:43] {bkhmd} Im leaving it alone

[12:43] {bkhmd} lol

[12:43] {Threei} you better

[12:43] {dino} i don't bk

[12:43] {Threei} who wants to have this mental image of magoo trading in his tutu, really

[12:45] {bkhmd} lol boxers or briefs? lol

[12:45] {nemo} commando

[12:47] {dino} wow, that came over wring, i don't was trade from home, not cloths

06[12:47] * Threei puts his hands over female room members' eyes

[12:47] {nemo} dino, what?

[12:47] {bkhmd} ut oh

[12:47] {bkhmd} brace urself

[12:47] {dino} forget it

[12:47] {bkhmd} lol

[12:47] {Threei} lol

[12:48] {dino} going to my corner

[12:48] {larisa} I think i will start my vacation early :) see you guys later! stary safe, have fun!

[12:48] {Threei} havefun and safe trip larisa

[12:48] {larisa} -r

[12:48] {dino} cya larisa

[12:49] {dino} hmin

[12:49] {larisa} ty

[12:55] {ese} l egle avg .52 l exm avg .72

[12:55] {Threei} lol AMD is nailed down to 6.50 like AGAM used to be to 14.50

[12:56] {ese} laris.....we need to talk prague

[12:56] {ese} tomorow

[12:57] {Threei} she left for vacation ese

[12:59] {strider} BEXP inverse c&h

[13:08] {dawg} .)

[13:08] {dino} well, seems my mentioned yesterday contra-indicator worked again

[13:08] {nemo} that is?

[13:08] {strider} what's that dino?

[13:08] {dino} cramer giddy

[13:09] {ese} started her vacation already.........wow....i wish

[13:13] {Threei} she'll be back in two weeks ese

[13:18] {ese} tks......good on her

[13:20] {dino} pwrd hl l break of .50

[13:21] {bkhmd} is tht a chinese software company?

[13:24] {dino} doesn't come up

[13:30] {nemo} game software

[13:31] {ese} gotta go all....see ya tomorrow

[13:32] {Threei} take care ese

[13:32] {ese} cya vad

[13:35] {dino} cya ese

[13:40] {dino} cf out .10, +.25

[13:41] {strider} dino, how many positions will you hold at a time?

[13:42] {dino} 5 max

[13:42] {strider} L2s for each?

[13:42] {dino} but usually only 2 or 3. slow days they add up if not stopped etc

[13:42] {dino} y

[13:43] {dino} lots of days it takes hours fo them to work or stop

[13:48] {strider} c&H EXM

[13:55] {strider} things sure look weak today.

[13:55] {nemo} your still up 200 points for the week

[13:55] {dino} slllllllllllllllllllllllllllooooooooooooooowwwwwwwwwwwwwwwww

[13:56] {strider} .

[13:57] {strider} even the Qs are hardly trading.

[13:57] {Threei} very sleep-inducing

[13:57] {Threei} coma-inducing I should say

[13:58] {dino} apu ouch

[13:59] {strider} downgrade

[13:59] {strider} no...that was this morning.

[14:01] {dino} sm l .13

[14:01] {Threei} Market Internals update at 2:00pmET

[14:01] {Threei} - NYSE volume 565M shares, about 20% below its three-month average; decliners lead advancers by 4.1:1. - NASDAQ volume 1.47B shares, about 2% above its three-month average; decliners lead advancers by 2.4:1. - VIX index +4.5% to just over 24.00

[14:01] {dino} wide

[14:03] {dino} fear or greed, pwrd

[14:04] {dino} jadas priest, rockin' out

[14:07] {dino} ugh cf

[14:07] {magoo} news POT vad?

[14:08] {Threei} nothinbg fresh mags

[14:08] {dino} pwrd stop to .75

[14:08] {Threei} (US) TARP Oversight Official Barofsky: Dollar for dollar return on TARP is unrealistic, "tens of billions" will be lost on auto bailouts

[14:08] {Threei} - Ultimate return on TARP will be negative. - Believes TARP receipients should show how they used govt funding

[14:09] {BillyD} a little late for that

[14:09] {Threei} wait

[14:09] {Threei} let's see if I got this straight

[14:09] {nemo} frickin mon

[14:09] {dino} so what does a vote cost

[14:10] {Threei} bailout for banks was given out with clearly expressed disgust, as necessary evil

[14:10] {Threei} bailout for autos was fiven out with jubilance almost,

[14:10] {dino} out pwrd +.24

[14:10] {bkhmd} AIG CEO taking alot of heat still for bailout then fight the sal cap

[14:10] {Threei} with "we are saving jobs" refrain

[14:11] {Threei} now it turns out, bank bailouts are mostly being returned

[14:11] {Threei} and it's auto ones on which taxpayer takes a hit?

[14:11] {dino} ipi

[14:11] {Threei} I have just one question:

[14:11] {dino} ferts' spiking

[14:11] {bkhmd} yes but at first the gov wouldnt allow them to pay back what a crock of poo

[14:12] {Threei} do you guys want to hear russian swearing about all this, or want me to stays with english?

[14:12] {bkhmd} any russian girls in room?

[14:12] {Threei} two

[14:12] {Threei} well, one on vacattion

[14:12] {Threei} and dp

[14:12] {Threei} but he is not a girl

[14:12] {Threei} last time I checked at least

[14:12] {dino} my god vad, they gave it to the unions, broke established creditor laws from 100+ years. it is atlas shrugged on the autos

[14:13] {Threei} oh I know dino...

[14:13] {Threei} believe me, I see these socialist turns ans twists miles ahead

[14:14] {dino} i know, how about obama requires all businesses to double their work force, lol

[14:14] {Threei} noticed how even now it's banks that are demonizxed

[14:14] {Threei} and no single qword on autos?

[14:14] {dino} because of the unions

[14:15] {Threei} yup... friends and the electoral force to reckon with

[14:15] {dino} i am loving that ford is moving ahead

[14:15] {Threei} inlike hugely unpopular baksters

[14:16] {nemo} any bets on market today?

[14:17] {Threei} -30

[14:17] {nemo} dino?

[14:17] {BillyD} TARP??

[14:17] {bkhmd} -30 vad?

[14:17] {Threei} POT Recent strength in fertilizer stocks attributed to chatter of positive channel checks in the US reported by research firm

[14:17] {Threei} - report on channel checks sees rebound in fertilizer demand in the US in recent days

[14:17] {dino} -100+

[14:18] {Threei} now they tell us

[14:18] {BillyD} Does the Gov't pay the bank book value for distressed property then allow it to be for pennies on the $ to investment world

[14:18] {BillyD} sold for pennies

[14:19] {dino} dk bd

[14:19] {bkhmd} -53

[14:19] {BillyD} thx dino

[14:19] {dino} but buffet did way better w/gs than the givt did

[14:20] {dino} my typing sucks

[14:20] {bkhmd} fmc nice trend see any set ups vad?

[14:20] {BillyD} I know a guy who owed over 1Mil on two properties in foreclosure and someone got it from the bank and the new owner tried to sell it back to my friend for $250K

[14:21] {dino} apu, anyone? partialling out

[14:21] {BillyD} this was all possible thru TARP program which means the new owner paid .10 on the dollar to sell at }25 on the dollar

[14:21] {dino} out.63 ave, +.50

[14:21] {BillyD} .25 on the dollar

[14:24] {dino} well they are so efficient w/the foreclosures, that my sept. closing (i'm buying) has been held up again until dec., as the bank (gmac) just found another outstanding loan agaist the propertyy ($40k they missed)

[14:24] {dino} how do you miss this stuff, not confidence inspiring

[14:25] {BillyD} where is the title work?

[14:26] {BillyD} do you guys use title companies dino?

[14:26] {dino} yes. ironically, gmac is paying for our search in the deal

[14:27] {BillyD} as long as they eat the 40K it's ok

[14:27] {dino} oh, they are, no doubt

[14:28] {BillyD} if GMAC foreclosed already all other positions should be wiped out

[14:28] {dino} whatsd funny is i would've paid more, but they thought all that was owed was 165k

[14:28] {BillyD} yeah, worlks great for you

[14:29] {dino} :)

[14:32] {dino} brb

[14:35] {Threei} market is till locked in narrow range, but it's time to start defining our bias for the end of the day

[14:36] {nemo} if you said -30 it'll stay that way

[14:36] {Threei} almost

[14:36] {Threei} with little bounce

[14:37] {nemo} yeah, given it's been basically slithering along the bottom, that would make sense

[14:37] {Threei} but if this is indeed what happens, there will be stocks that overreact

[14:37] {nemo} rimm

[14:38] {nemo} might want to watch mon, it overreacte around 2:00

[14:38] {Threei} not sure

[14:38] {Threei} RIMM doesn't feel right to me

[14:38] {nemo} I think it's possibly a late short

[14:38] {Threei} but if dino's right and we are headed for -100, I would keep RIMM as short candidate

06[14:38] * nemo talks as if he has a clue

[14:40] {bkhmd} third time at that support level

[14:41] {bkhmd} lower highs

[14:41] {dino} it wasn't me, the coin answered

[14:44] {Threei} see how willing RIMM is on the downside?

[14:44] {nemo} y

[14:44] {dino} cvs out +.03

[14:44] {bkhmd} like my first

[14:44] {bkhmd} well i better not

[14:44] {nemo} bahhhhh

[14:44] {nemo} yeah, janitor will get pissed

[14:49] {Threei} looks like dino's coin was right

[14:49] {dino} lots of time

[14:49] {bkhmd} mised his coin toss what was it

[14:50] {bkhmd} -100?

[14:50] {nemo} gotta go c u L8tr

[14:50] {bkhmd} later nemo

[14:50] {Threei} 14:17] {dino} -100+

[14:50] {Threei} take care nemo

[14:51] {fernp} bye nemo

[14:52] {dino} cya nemo

[14:53] {BillyD} if not for RIMM to .20 it looks ripe off 63 short

[14:54] {Threei} I would really prefer a bounce first

[14:54] {bkhmd} could base here a bit yea?

[14:55] {BillyD} what is bounce logic Vad

[14:56] {BillyD} or bounce to stay under .20

[14:56] {Threei} two versions

[14:56] {Threei} one is bounce into .40 area

[14:57] {Threei} where I'd hunt for setup

[14:57] {Threei} another is plain breakjdown here

[14:57] {Threei} and bounce is needed just to establish resistance for stop placement

[14:57] {Threei} so far .20

[14:57] {Threei} but not very pronounced

[14:57] {BillyD} ok

[14:58] {bkhmd} thanks for explanation vad

[14:58] {Threei} I am still hesitant here...

[14:58] {BillyD} yes, I did not enter

[14:58] {Threei} no clean setup

[14:58] {BillyD} potential trap

[14:58] {Threei} honestly, if this is it - I will prefer to miss this play

[15:04] {Threei} oh well, this one got away

[15:08] {Threei} no pattern to go of still but this is something to work with

[15:08] {Threei} we have bounce into resistance

[15:09] {Threei} let's see if something shapes up to give us trigger and stop

06[15:10] * dawg slaps Threei around a bit with a large trout

[15:11] {Threei} what was that for

[15:11] {Threei} what did I do

[15:11] {Threei} sniff sniff

[15:12] {dino} close to 100

[15:16] {BillyD} RIMM H&S formed

[15:17] {fernp} Good evening everybody. see you all tomorrow.

[15:17] {Threei} take care fern

[15:17] {BillyD} bye fern

[15:17] {bkhmd} later fern

[15:19] {dino} wynn up $16 in 8 trade days

[15:20] {dino} cf nonstop, and i scalped it

[15:21] {bkhmd} Vad

[15:22] {Threei} yes sir

[15:22] {bkhmd} do ur majic dance make Rimm set up i need a scalp

[15:22] {Threei} gosh... why?

[15:22] {Threei} we had quite a few today

[15:22] {bkhmd} i missed first two good ones

[15:24] {Threei} my problem here is:

[15:24] {Threei} it makes its move within the range too vertically

[15:24] {Threei} so the range is too wide for a nice tightly controlled stop

[15:25] {bkhmd} yep

[15:25] {Threei} and if I try to play a break, I have to do it at the end of sharp move

[15:25] {Threei} and I hate that

[15:25] {bkhmd} and loks like it wants to bounce

[15:25] {bkhmd} then gets chopped down

[15:31] {Threei} OK

[15:31] {Threei} market is dropping, RIMM near resistabnce

[15:31] {Threei} if you need this badly, shiort it with stop above 63

[15:31] {Threei} first weakness from here

[15:33] {BillyD} hard to discern it here for me

[15:33] {Threei} yes

[15:34] {Threei} no clearly defined trigger

[15:34] {Threei} that's why I can't come up with normal call

[15:34] {BillyD} totally guessing

[15:34] {Threei} and instead waffle somwthing like

[15:34] {Threei} Short Setup: RIMM whereever and pray

[15:34] {BillyD} lol

[15:34] {magoo} in lol

[15:35] {BillyD} too bad Larisa gone for that one

[15:35] {magoo} our father who art in heaven.......

[15:35] {Threei} magoo... now, keep your srtop just above Who knows whewre, and aim to take priofit at Wherevr you want

[15:36] {magoo} to precise

[15:36] {BillyD} because you are gonna anyway

[15:36] {bkhmd} i took .4 cents and chicken out

[15:36] {dino} -100

[15:37] {Threei} 4 cents?

[15:37] {Threei} come on

[15:37] {Threei} what was your risk??

[15:37] {Threei} 6-7 cents?

[15:37] {Threei} who cares about such stop

[15:37] {bkhmd} 5 cents

[15:37] {Threei} let it trade, let the market work

[15:37] {dino} -300 more to go before month over

[15:37] {Threei} look at it

[15:38] {dino} target 9900

[15:38] {Threei} that was what Alan Farley would call "risk-based setup"

[15:38] {Threei} I can't remember it was me who picked up this expression from him or other way around

[15:39] {Threei} so just in case will ghive credit to him :)

[15:39] {Threei} kind of:

[15:39] {bkhmd} i dont recal reading that in his book lol so maybe ur term

[15:39] {Threei} no clear trade, but risk is so small, why not

[15:39] {bkhmd} thats what I seen grab 5 cents and run

[15:41] {Threei} I don't know, I'd d it differently a little

[15:41] {bkhmd} scared money here

[15:41] {Threei} risk is so small, who cares if I have to take such a tight stop, be thankful market gave such a riskless entry and try to milk it

[15:46] {BillyD} BK..read mark Douglas "Trading in the Zone" about anything can happen

[15:46] {Threei} no shorting RIMM this time

[15:46] {BillyD} if you haven't already

[15:46] {Threei} it has changed

[15:46] {bkhmd} no i have not read it

[15:47] {Threei} if it breaks 63 with market bouncing, maybe a long scalp

[15:47] {Threei} but no short

[15:47] {Threei} Long Setup: RIMM 63 break if stays above .90

[15:47] {Threei} let's make it official

[15:48] {dino} bd; that was the best line i ever learned

[15:48] {Threei} who is John Galt?

[15:48] {BillyD} it's the foundation as Douglas says

[15:49] {dino} "hate that question"

[15:49] {Threei} hehe

[15:50] {Threei} make up your mind RIMM

[15:51] {Threei} we are running out of time as Jack Bauer would say

[15:51] {BillyD} not in here, but you got mkt help

[15:51] {Threei} doesn't look encouraging

[15:52] {Threei} okay

[15:52] {BillyD} stock changes its tune all day long

[15:52] {Threei} no means no

[15:53] {BillyD} good plays today vad, ty

[15:53] {Threei} most of them anyway

[15:54] {BillyD} don't let tomorrow the 13th spook ya

[15:54] {Threei} why not?

[15:54] {Threei} great excuse for day off

[15:54] {Threei} thanks for giving me idea

[15:54] {BillyD} gd pt

[15:59] {Threei} okay guys, thank you all

[15:59] {bkhmd} good day all

[16:00] {bkhmd} thanks vad

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

[16:00] {tomg} thanks vad

[16:00] {Threei} see you tomorrow

[16:00] {dino} -94 close

[16:00] {Threei} perfect read dino

[16:00] {Threei} nailed it

[16:01] {Threei} DIS Reports Q4 $0.46 v $0.41e, R$9.8B v $9Be

[16:02] {dino} fwiw gaps 9936, 1730, 1069 from 10/06

[16:03] {dino} dis

[16:03] {Threei} beauty

[16:04] {Threei} scaled 30 cents

[16:04] {Threei} scalped

[16:04] {Threei} taking off, swee you tomorrow

[16:05] {dino} jwn