Feb 18 2010

The day started with two stops, 10 and 6 cents on NVDA and CAT. After some boredom and regrouping 4 wins in a row took us into black: NVDA and FAZ longs and VXX and AMLN shorts. That all was on top of profitable TM overnight short closed for nice profit before open.

Session Time: Thu Feb 18 00:00:00 2010

[08:30] {nemo} bad jobs and cpi?

[08:36] {Threei} *(US) INITIAL JOBLESS CLAIMS: 473K V 438KE; CONTINUING CLAIMS: 4.563M V 4.500ME

[08:36] {Threei} - Prior Initial Claims revised higher from 440K to 442K

[08:36] {Threei} - Prior Continuing Claims revised from 4.538M to 4.563M

[08:38] {Threei} *(US) JAN PRODUCER PRICES INDEX M/M: 1.4% V 0.8%E; PPI EX FOOD&ENERGY M/M: 0.3% V 0.1%E

[08:38] {Threei} - PPI YoY: 4.6% v 4.4%e

[08:38] {nemo} here it comes stagflation

[08:39] {Les} PPI? price _____ inflation?

[08:39] {Les} GM

[08:39] {nemo} producer price index, those costs eventually have to work their way through

[08:39] {Les} ok

[08:40] {Threei} and cpi - consumer price index

[08:40] {Les} yeh just made the connection

[08:45] {fernp} Good morning everybody

[08:46] {nemo} hola

[08:46] {fernp} nemo :-)

[08:48] {Les} hi fern

[08:49] {Les} TM made a good overnight short.

[08:49] {nemo} amzn at yesterdays lows

[08:49] {nemo} fcx too

[08:50] {nemo} rimm at yesterday's open

[08:51] {Threei} fern :)

[08:56] {Threei} covered TM

[08:56] {Threei} +.40

[09:03] {Les} you did take some did you? cool

[09:03] {Threei} [15:44] {Threei} am so tempted to take TM short home

[09:03] {Threei} [15:45] {Threei} and CYCC long

[09:03] {Threei} [15:57] {Threei} skipping CYCC

[09:03] {Threei} [15:57] {Threei} taking a little TM

[09:04] {Threei} both decisions proved correct

[09:04] {Les} ok

[09:06] {ese} morning

[09:06] {nemo} dude

[09:06] {Threei} ese :)

[09:06] {ese} dude

[09:06] {Les} curious about NTES. tracked sideways yesterdays. testing 200ma resistance on daily. wondering if its a breakout candidate

[09:06] {Les} hi ese

[09:06] {ese} les

[09:06] {ese} vad

[09:07] {Threei} it drifted up on decreasing volume Les...

[09:08] {Threei} I suspect it was simply lifted a bit by market, and barely reached ots high from two days ago, while market broke it

[09:08] {Threei} so I'd have to say no, it's more likely to fizzle out

[09:09] {Les} ok thanks

[09:10] {i2romantis} morning all :)

[09:10] {Threei} i2r :)

[09:11] {ese} i2

[09:11] {larisa} gm everybody :)

[09:11] {Threei} larisa :)

[09:12] {larisa} vad :)

[09:12] {nemo} lari :)

[09:12] {nemo} I2

[09:12] {larisa} :)

[09:12] {i2romantis} :)

[09:12] {ese} larisa

[09:13] {ese} vad your looking at anything in particular this morning

[09:13] {ese} you

[09:13] {Threei} usual suspects only, nothing stands out

[09:13] {i2romantis} Vad, what do you think about NVDA?

[09:14] {Threei} NVIDIA Corp Reports Q4 $0.23 v $0.20e, R $982M v $960Me

[09:14] {Threei} - Guides Q1 Rev flat q/q (implies $982M v $930Me)

[09:14] {Threei} - Guides Q1 gross margin 44-45%

[09:14] {Threei} - Q4 gross margin 44.7% v 29.4% y/y

[09:14] {Threei} NVDA Price Target raised to $23 from $20 at Thomas Weisel, maintains Overweight rating

[09:14] {Threei} and it drops?

[09:15] {Threei} this looks very familiar

[09:15] {Threei} and doesn't promise anything good for the nearest time

[09:15] {Threei} we saw quite a few of these lately: gpood reports, upgrades and drop

[09:15] {Threei} witnedd AMSC

[09:15] {Threei} RIGL

[09:15] {Threei} witness too

[09:16] {Threei} - CEO: "NVIDIA's business continued to accelerate in the fourth quarter, with strong demand in our PC and workstation market. While the yield of chips made using the latest 40nm process has improved significantly, demand continues to exceed our constrained supply. Looking ahead this year, we are excited to raise the bar again with our next-generation Fermi GPU architecture; our Tegra mobile processor will enable a new class of amazing mobile devices like tablets; and our 3D Vision glasses and accompanying technology will bring a whole new dimension to personal computing."

[09:17] {i2romantis} ok

[09:17] {Threei} NVDA is not as extreme case as AMSC, most likely it's simply dropped with market... nonetheless, inability to hold oin good announcement is to be respected

[09:17] {Threei} covered my TM too soon eh

[09:18] {Threei} RU) S&P Comments On Russia's Banking Sector And Inflation

[09:18] {Threei} - Double-digit inflation has become the norm over the years, so recent consumer price data showing a slowdown have raised fundamental questions.

[09:21] {dino} gm all

[09:21] {Threei} dino :)

[09:22] {dino} :)

[09:22] {Threei} strider :)

[09:22] {Threei} (pre-emptive greeting)

[09:22] {strider} hey there.....

[09:22] {strider} late this morning.

[09:22] {Threei} awww... a bit more patience and I could have full dollar on TM short

[09:22] {Threei} patience was never my strong suite eh

[09:23] {nemo} thank god for her

[09:24] {dino} lol

[09:25] {nemo} mmmhhh C&H on FAS?

[09:26] {Threei} as much as you can trust pre-market formations...

[09:26] {Threei} which is to say, not much

[09:27] {nemo} it invalidated looking for support at .50

[09:28] {dino} ouch xnpt

[09:29] {dino} wcg

[09:30] {_jfjf64} mornin all

[09:30] {Threei} jf :)

[09:30] {dino} aap

[09:31] {Threei} XNPT FDA response letter

[09:31] {Threei} zillion downgrades

[09:32] {lasertrev} morning

[09:32] {dino} b'zillion

[09:32] {_jfjf64} rimm

[09:32] {Threei} trev :)

[09:32] {nemo} yeah, verticle

[09:32] {nemo} cal

[09:33] {Threei} RIMM should pull back now

[09:33] {fernp} NVDA, Vad bounce?

[09:33] {Threei} not yet

[09:33] {fernp} ok

[09:34] {Threei} RIMM is likely long near .40 - .50

[09:35] {Threei} NVDA, note the high of this bounce, let's see if we catch double bottom

[09:35] {dino} hmmm bad news is good for mkt so far

[09:36] {Threei} no pullback RIMM

[09:36] {_jfjf64} nope

[09:37] {nemo} gap at 71

[09:37] {_jfjf64} whats plan b

[09:37] {nemo} go long

[09:37] {Les} you got a read on WCG Vad?

[09:37] {Threei} I'd hate to buy breakout on it here, jf

[09:38] {Threei} WCG no, too jumpy

[09:38] {Threei} dino's stock

[09:38] {dino} like to see double bottom

[09:38] {Les} yeh been waiting for him to enter :)

[09:39] {Les} ok

[09:39] {Threei} here comes NVDA pullback

[09:39] {Threei} try to get in as close to .50 as possible

[09:39] {dino} imo around 28 if gets there

[09:40] {Threei} with stop under .45

[09:40] {dino} mkt randon dancing

[09:40] {Threei} on .55

[09:40] {Threei} in

[09:42] {Threei} doesn't look promising

[09:42] {dino} stop is .43

[09:44] {Threei} RIMM finally pulling back

[09:44] {Threei} (US) Preview: Feb Philadelphia Fed due out at 10:00ET

[09:44] {Threei} **consensus expectations: 17.0e v 15.2 prior

[09:44] {Threei} US) Preview: Jan Leading Indicators due out at 10:00ET

[09:44] {Threei} ***consensus expectation: 0.5%e v 1.1% prior

[09:44] {dino} wcg sm l .00

[09:44] {Threei} NVDA stop

[09:45] {dino} stop lod

[09:45] {dino} nvda stopped

[09:45] {nemo} bye bye

[09:45] {fernp} NVDA stopped

[09:45] {nemo} support at .35

[09:45] {ese} dino orly.....have a look

[09:45] {Threei} RIMM

[09:45] {Threei} too fast to alert... took .60

[09:46] {Les} stopped and went short for +.09 on nvda

[09:46] {ese} Q beats.....by a .01

[09:46] {_jfjf64} nice job

[09:46] {Threei} NVDA pretty much gets this look of "endless selling pressure"

[09:46] {nemo} huge volume right here

[09:47] {dino} like it

[09:47] {dino} orly

[09:47] {dino} aap same industry

[09:47] {ese} just looked at that also

[09:47] {Threei} Short Setup: TM .50 break half lot

[09:48] {Threei} ugh... late

[09:48] {ese} L orly .11

[09:48] {Threei} ok, same setup, if holding under .65

[09:49] {Threei} invalidated

[09:49] {nemo} look for it to pullback at .80

[09:50] {dino} orly sm l .20

[09:51] {ese} out orly .22 =.10

[09:51] {ese} +.11

[09:51] {dino} gj

[09:51] {_jfjf64} nice

[09:52] {ese} tks

[09:52] {ese} aap

[09:52] {Les} s xnpt .64

[09:52] {Threei} anyone caught RIMM?

[09:52] {dino} giddy-up

[09:52] {ese} you thinkin anything there dino

[09:52] {ese} .00 break

[09:53] {ese} ?

[09:53] {dino} wcg .39 was last hi

[09:53] {dino} rimm, no es, hate it

[09:54] {ese} thats good enough for me if you hate it

[09:55] {Threei} Long Setup: CAT .80 break

[09:55] {Threei} if stays above .75

[09:55] {dino} nvda l .50

[09:56] {dino} out wcg .49, +.49

[09:56] {Threei} no go CAT

[09:56] {fernp} CAT stopped

[09:56] {Threei} backing off, 4 min till numbers

[10:00] {Les} stpped xnpt

[10:00] {Threei} US) JAN LEADING INDICATORS: 0.3% V 0.5%

[10:00] {dino} gutsy les

[10:00] {Threei} *(US) FEB PHILADELPHIA FED INDEX: 17.6 V 17.0E

[10:00] {Les} missed open break low at .80. thought it would go lower

[10:01] {dino} i understand, gutsy imo to short something down 13 bucks

[10:01] {Les} .40 b/d on NVDA?

[10:02] {Threei} COIN Targets 75 Percent Increase in Food Waste Processing at Woodbridge Plant

[10:02] {dino} ugh ecg

[10:02] {Threei} can't tell on NVDA

[10:02] {dino} wcg

[10:02] {nemo} market o.k. with those numbers

[10:02] {nemo} rally back on

[10:03] {ese} orly nice move

[10:03] {dino} ty es

[10:03] {Les} double top wcg dino?

[10:04] {dino} dk

[10:04] {dino} breath drop then up imo

[10:04] {dino} out orly .40, +.20

[10:04] {dino} ty es

[10:06] {dino} wcg drops

[10:06] {ese} nice one dino

[10:07] {ese} L stx .05

[10:09] {dino} :)

[10:09] {dino} out nvda .62, +.12

[10:10] {ese} out stx .12 +.07

[10:11] {dino} gj

[10:11] {ese} tks....

[10:12] {ese} orly could keep going dino

[10:12] {ese} almost at high of day

[10:13] {dino} they all float down here

[10:14] {dino} wcg

[10:14] {nemo} day before op ex...probably big

[10:15] {dino} should breathe

[10:15] {nemo} triple digit green :)

[10:16] {ese} would appear that i underestimated stx

[10:16] {Les} NVDA .65 b/o?

[10:17] {ese} just didn't have vads T&S intensity

[10:17] {dino} wcg sm l .10

[10:18] {dino} stop is .88

[10:19] {ese} i missed that dino ...nice

[10:20] {dino} so far

[10:20] {dino} orly drop

[10:20] {Threei} YHOO MSFT receives anti trust approval from EU on internet search deal; as expected (related MSFT )

[10:22] {dino} wcg out flat

[10:23] {dino} retest imo

[10:23] {Threei} somewhat disconnected day, no rythm to the movements

[10:23] {dino} tricked me

[10:23] {dino} random dance day

[10:24] {dino} cab

[10:24] {Les} yeh. NVDA made 1:1 before falling back. out flat

[10:24] {_jfjf64} hv a vodka will mk all betterr

[10:24] {dino} have two

[10:25] {Threei} 34% Favor Raising Taxes On Those Making More Than $100,000

[10:25] {Threei} 66% favor shooting 34%

[10:26] {_jfjf64} bet ya those 34%mk 25000 yr

[10:26] {Threei} if that

[10:26] {dino} indeed jf

[10:27] {dino} ironically lowering taxes would spur growth

[10:27] {_jfjf64} indeed dino

[10:27] {Threei} right way to present the funding would be: 100% of those making less than 80K favor raising taxes on those making more than 100K

[10:27] {dino} they are going back to the 70s thinking

[10:28] {_jfjf64} by the way how obama stimulas doing

[10:28] {fernp} HA, any read Vad?

[10:28] {_jfjf64} kgc .05 break

[10:29] {Threei} 35% Say Stimulus Has Helped Economy, 33% Say It Has Hurt

[10:29] {_jfjf64} and

[10:29] {Threei} chart is right fern.. thin

[10:29] {fernp} true, ty

[10:29] {Threei} hard to tell

[10:31] {dino} mkt drop

[10:31] {fernp} UAUA breakdown, Vad?

[10:31] {_jfjf64} in

[10:31] {fernp} cant short UAUA

[10:32] {Threei} was shortable yesterday

[10:32] {Threei} really can't twell

[10:32] {Threei} it doesn't seem to work on breakdowns

[10:32] {Threei} rather drops off stalls at the high

[10:33] {ese} screens going red

[10:33] {fernp} cannot short as per sec! why "as per sec"? lol

[10:33] {Threei} we are going for triple digit red close, didn't you hear ese?

[10:33] {nemo} tht was yesterday

[10:33] {Threei} just an euphemism for "no inventory" fern

[10:34] {Threei} since SEC forbids shorting when not having shares

[10:34] {fernp} ok

[10:34] {Threei} it's every day nemo,... until comes true

[10:35] {Threei} AIG Fitch downgrades ILFC's rating two notches to BB+ from BBB (now junk status)

[10:35] {Threei} they mean AIG ever wasn't junk?

[10:35] {ese} ahhhhhhh the ole triple digit red close.........nudge nudge wink wink

[10:36] {Threei} hmmm... how did you manage to make it sound dirty?? :)

[10:37] {nemo} Monty Python

[10:37] {ese} well.......let me tell ya a story..........it all began in a smaalll toon

[10:37] {_jfjf64} comon kgc

[10:38] {_jfjf64} 1/1

[10:38] {_jfjf64} half out

[10:38] {dino} wcg sm l .87

[10:39] {dino} stop .59

[10:39] {Threei} good one jf

[10:39] {Threei} getting back into shape eh?

[10:39] {_jfjf64} yup

[10:40] {dino} gj

[10:40] {_jfjf64} out ty

[10:43] {ese} L stx .06

[10:44] {ese} fishing here a little ....we'll see what happens

[10:45] {ese} stop .94

[10:45] {ese} sm 1k

[10:46] {_jfjf64} 1k tip money for ya ese

[10:46] {ese} ahhhhh why yes it is..........why do you ask? hmmmmmmmm

[10:46] {_jfjf64} lol

[10:47] {Threei} NVDA

[10:47] {Threei} seems to be good for scalp

[10:48] {Threei} .55 - .56

[10:48] {Threei} stop under .50

[10:49] {fernp} FITB short, vad?

[10:50] {Threei} way too narrow

[10:50] {fernp} ok

[10:50] {Threei} NVDA 1:1

[10:51] {Threei} 1 stop is remedied so to speak

[10:51] {Threei} SEED Hearing takeover chatter circulating

[10:51] {Threei} - Brazil's Cosan rumored as a possible acquirer.

[10:52] {ese} if Q's can't break out above .69 i'm out there won't be enough momo

[10:53] {dino} orly es

[10:56] {dino} cab lod

[10:56] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 11:00ET

[10:56] {Threei} **consensus expectations:

[10:56] {Threei} Crude: +1.7Me

[10:56] {Threei} Gasoline: +1.5Me

[10:56] {Threei} Distillate: -1.6Me

[10:57] {ese} i'll take that out stx .18 +.12

[10:57] {ese} will take a look at orly dino

[10:57] {dino} gj

[10:57] {_jfjf64} nvda ty vadd

[10:57] {Threei} 1:2

[10:57] {Threei} welcome sir

[10:58] {dino} ndx hod

[10:58] {dino} cab sm l .50

[10:58] {Threei} I know why we don't get trople digit red close

[10:58] {Threei} it's dino and larisa's fault

[10:58] {ese} what are you thinkin with orly dino

[10:59] {dino} long at .00

[10:59] {ese} bounce at .00

[10:59] {ese} just what i was thinkin

[10:59] {dino} wait

[10:59] {ese} momo is still dn......

[11:00] {ese} thinkin alike

[11:00] {Threei} *DOE CRUDE: +3.1M V +1.7ME; GASOLINE:+1.6M V +1.5ME; DISTILLATE: -2.9M V -1.6ME

[11:00] {ese} ya it has to reverse

[11:00] {dino} .80 should hold

[11:01] {ese} ya am gonna need to see a high low of some kind i think

[11:01] {nemo} .75

[11:01] {nemo} maybe the bottom of that tail

[11:01] {ese} higher low

[11:04] {dino} hmmm

[11:06] {Threei} market is rewady to reverse down here

[11:07] {nemo} arabic?

[11:08] {Threei} Long Setup: FAZ .80 break

[11:08] {Threei} scalp only

[11:09] {_jfjf64} stop

[11:09] {_jfjf64} at

[11:09] {_jfjf64} .75

[11:09] {Threei} two versions of stop:

[11:09] {Threei} under .70 for "normal" scalpers,

[11:10] {Threei} under .75 for extreme ones

[11:10] {Threei} if sets up not losing .75

[11:10] {nemo} usl still up after those oil numbers

[11:12] {ese} question....don't gold stocks normally move opposite the mrkt?

[11:12] {Threei} not necessary

[11:12] {Threei} this relation is ever changing

[11:12] {dino} watch dollar on gold reverse

[11:12] {Threei} lately they tend to move togather

[11:12] {ese} whats the symbol for that dino

[11:13] {ese} ya thats what i thought vad.....they've been moving together lately

[11:15] {Threei} FAZ spiked into resistance a bit too vertically

[11:15] {dino} uup

[11:15] {nemo} orly bounced at .75 but not sure yet

[11:15] {Threei} .75 break was better idea but happened too fast

[11:15] {dino} waiting

[11:15] {nemo} volume coming in

[11:16] {Threei} I'd prefer FAZ to pull back a little one more time, and hold above .75 to reestablish setup

[11:16] {Threei} yes, like this

[11:17] {Threei} liking the break again

[11:17] {ese} L auy .85

[11:18] {dino} xnpt lod

[11:19] {Threei} one look at XNPT daily should be enough to cure the desire to be, as magoo called them, an "inwestor"

[11:20] {Threei} just imagine a holder waking up today and seeing the quote

[11:20] {ese} wow no kidding.....

[11:20] {Threei} sheer disbelief... then blinding pain

[11:20] {nemo} marriage?

[11:20] {Threei} then beam of hope - "my quotes must be wrong"

[11:20] {dino} 5.95 area gut

[11:21] {Threei} then reading the news

[11:21] {Threei} conversing with other holders and drowning the pain in useless bitching about "crooks everywhere, they are after us, FDA, marketmakers etc"

[11:22] {nemo} schadenfreude Vad?

[11:22] {Threei} beam of hope: "oh it's so undervalued now, just consider it a gift and buy more"

[11:22] {Threei} did I mention more pain?

[11:22] {nemo} boy is really on a roll...

[11:22] {Threei} hehe

[11:23] {Threei} just saw it so many times

[11:23] {Threei} and experienced once

[11:23] {ese} nemo.......just saw your comment........thats funny man!

[11:23] {nemo} have my moments...

[11:24] {Threei} and no, not deriving any pleasure from it

[11:24] {dino} lol

[11:24] {nemo} nah...

[11:24] {Threei} rather feel for those who get caught

[11:24] {dino} clw

[11:24] {nemo} yeah you feel..."haha! suckers! it's your turn..."

[11:25] {ese} i take it you have some experience there........you seem to be coming from an exacting point of view

[11:25] {Threei} I mean, 13 years later I still remember the symbol of the stock that did just this to me

[11:25] {ese} me as well

[11:25] {nemo} dino, think one more flush on orly then break?

[11:25] {Threei} but in retrospection, I am thankful to it

[11:26] {Threei} it sealed my resolve to be a short term trader, and it taught me all-important lesson

[11:26] {Threei} trade what you see, not what you think

[11:27] {Threei} FCX

[11:27] {Threei} Freeport McMoran Copper & Gold Inc Ticking lower; hearing vague chatter of a possible secondary offering

[11:27] {Threei} - Follow Up: hearing Dahlman Rose defending stock; skeptical on possible secondary; currently rates FCX at a Buy

[11:27] {nemo} fcx is up 1.25

[11:28] {dino} wcg stopped, -.29, dumb trade of the day, had .40 on it

[11:30] {dino} clw to 50 strike, the games we play

[11:30] {nemo} getting volume in orly

[11:30] {nemo} looks like they're trying to sell it down, but it's holding

[11:31] {Threei} small plane crashes into building in Austin

[11:31] {Threei} what the deuce

[11:31] {Threei} third in as many days

[11:32] {larisa} pilot was XNPT investor?

[11:32] {Threei} and I am being called nasty?

[11:32] {Threei} by the way by this same girl

[11:32] {nemo} oops...orly broke support

[11:33] {Threei} MGM Expect Las Vegas room rates to remain soft in Q1

[11:34] {Threei} remain? how come they all claim rates are "soft" but I don't seem to be able to get any significant discount?

[11:34] {dino} ahh, you sure thats what they meant

[11:34] {larisa} you going to Vegas vad?

[11:34] {Threei} they sofrly charge you more?

[11:35] {Threei} no, had a long weekend in the fall when a few friends from different cities tried to plan a get-together there

[11:35] {Threei} it fell apart for other reasons,

[11:36] {Threei} but while planning was underway, research didn't yeild any significant savings vs normal prices

[11:36] {Threei} Small plane crashes into Austin, Texas building; reportedly building housed an FBI field office

[11:36] {Threei} - firefighters are on the scene.

[11:36] {Threei} well, unless you agree on Circus Circus that is... which I don't

[11:37] {larisa} X was too slow at the top, did not take 51.10 short.

[11:37] {Threei} finally FAZ... took its sweet time

[11:38] {Threei} - follow up: subsequent reports state the building is next to the local FBI headquarters building.

[11:38] {Threei} 1:1

[11:38] {Threei} I am out FAZ

[11:38] {Threei} second stop is take back

[11:38] {Threei} flat for the day

[11:38] {fernp} +4 here :-)

[11:39] {Threei} +$4?

[11:39] {fernp} yup

[11:39] {Threei} well, you do know what you can't do, right?

[11:39] {Threei} by no means spend it all at once, lest you cause hypwerinflation singlehandedly

[11:39] {fernp} yeah, lol

[11:43] {dino} wcg rinsed

[11:45] {nemo} orly at resistance

[11:45] {dino} clw wow

[11:46] {dino} orly sm l .75 stop .44

[11:46] {dino} clw waiting lower, 47.70s

[11:50] {strider} TM reverse c&h

[11:54] {dino} clw hmmm

[12:09] {nemo} fcx consolidating at 200

[12:16] {ese} \

[12:18] {Threei} (IA) IAEA: Iran's stockpile of enriched uranium over 2 metric tons from 1.8 metric tons prior, installed centrifuges up slightly to 8,610

[12:18] {Threei} - IAEA inspectors note they are concerned about possibility work is currently ongoing in Iran to design a nuclear missile.

[12:19] {dino} risky, wide clw sm l .40

[12:19] {dino} out .41, +1.01

[12:19] {strider} 60 second man

[12:20] {dino} hey

[12:20] {nemo} hit home dino?

[12:20] {dino} lol

[12:21] {nemo} took that out without even getting near trend resistance...sheeesh

[12:21] {nemo} at lunch...

[12:21] {nemo} you're nuts

[12:22] {strider} guys like dino walking around loose on the streets....just plain scary.

[12:23] {dino} infamous

[12:23] {dino} lets see if bottom holds

[12:24] {dino} report looks like a big beat

[12:25] {nemo} on clw

[12:25] {dino} yes

[12:25] {nemo} .25 spread .owww

[12:26] {dino} 1.48 to 1.33

[12:26] {Threei} ultimate kettle-pot case:

[12:26] {Threei} 12:21] {nemo} you're nuts

[12:26] {nemo} expert opinion

[12:27] {Threei} takes one...

[12:27] {nemo} my point...as you like to say...eqkzaktly

[12:27] {dino} been called worse

[12:27] {nemo} by me no less, you just didn't know

[12:28] {dino} i had a feeling

[12:29] {Threei} be back in 30 min guys, gotta get wife's car from the shop

[12:29] {larisa} wives always break things

[12:30] {Threei} they do

[12:30] {Threei} fine shiny things, too

[12:30] {strider} Best advice for women: don't become a wife....and you won't bfreak things.

[12:30] {larisa} hubby fixed switch. tried it 50 times, it worked. I tried it once, broke it again :)

[12:30] {strider} break

[12:31] {strider} It was a trick, larisa.

[12:32] {larisa} he is not practical joker usually :)

[12:33] {nemo} he's got a sense of humor though

[12:33] {nemo} I'll leave it at that...

[12:36] {dino} sm l .21 clw

[12:37] {ese} out auy .80 -.05...........it's saaa goin nowhere

[12:38] {Les} we in anything?

[12:38] {Les} Les IS back

[12:38] {nemo} COMA

[12:38] {Les} oh joy

[12:38] {nemo} by the way, the proper acronym is: AWIAV

[12:38] {dino} clw

[12:39] {Les} I believe that is copyleft of magoo Nemo

[12:39] {Les} good idea on the miners ese. GG .20 b/d was sweet

[12:39] {nemo} no...he was AWIA...I added the V

[12:39] {nemo} What's that guy's name from GNU...oh yeah...Stallworth

[12:40] {nemo} Free Software Foundation

[12:43] {ese} ya ....mine didn't work out though les.......although i sense some profit here eventually

[12:43] {Les} NTES has become thin. dino trade. but now under 50 & 200. I like it for a small short

[12:45] {dino} out clw .27, +1.06

[12:45] {strider} you shut up!

[12:46] {nemo} go home

[12:46] {dino} huh?

[12:46] {nemo} raise his taxes

[12:46] {strider} vad, throw this guy outa here.

[12:46] {nemo} indecent, obscene profits

[12:46] {dino} small guys, 300 sh

[12:47] {strider} oh, well...ok then.

[12:47] {nemo} let's see. 1st time...$300 for 1 minute's work

[12:47] {strider} never mind.

[12:47] {dino} whew

[12:47] {nemo} 2nd time...$300 for 10 minutes work

[12:47] {nemo} listen comrade....:)

[12:47] {dino} evil speculator that i am

[12:48] {dino} pullback

[12:48] {nemo} swm coughed up a firball today

[12:48] {nemo} holds 46 could have a reverse H&S

[12:48] {dino} sames industry clw

[12:49] {nemo} eureka...shoulda' known it was going to happen

[12:50] {dino} those paper/forest companies trade like "pulp"

[12:50] {nemo} gag

[12:50] {dino} "pulp moves baby"

[12:51] {Les} someone's doing god's work here

[12:52] {Les} nice trades dino. what were they?

[12:52] {nemo} FAS downward wedge into yesterday's close price

[12:53] {dino} clw twice

[12:54] {dino} around 45 i'll look again

[12:55] {dino} enoc dec gap fill

[12:56] {Les} MS range bound between .10 and 27. might be breaking out here

[13:00] {nemo} that texas plane crash was a guy trying to get the IRS building

[13:01] {Les} another crash?

[13:01] {nemo} http://www.foxnews.com/story/0,2933,586581,00.html

[13:01] {Threei} back

[13:02] {Les} well he crashed into the wrong floor apparently

[13:02] {dino} aap jump

[13:02] {dino} c'mon orly follow it

[13:03] {Threei} scrolling up, I see asylum is in full force

[13:03] {nemo} dino was verrrry bad.

[13:03] {Threei} the most disturbing thing though is, I feel right at home...

[13:03] {dino} understandable, lol

[13:03] {strider} we prefer to think of it as a refuge.

[13:04] {dino} the guys seem a bit disappointed in me vad, i disturbed their lunch w/work

[13:04] {nemo} no....obscene profits

[13:05] {Threei} can you really blane them dino...

[13:05] {dino} this politically correct way of talking about profits must stop. all profits are good

[13:05] {nemo} really?

[13:05] {dino} yes

[13:05] {nemo} So, if I mug a guy and steal his wallet...is that good

[13:05] {nemo} What's your address?

[13:06] {Threei} it's not?

[13:06] {dino} w/o breaking the law, profits are not obscene they are good

[13:06] {nemo} oh...

[13:06] {nemo} so do what congress says, not what they do?

[13:07] {dino} right

[13:07] {dino} like i tell my kids, do as i say....

[13:07] {Les} bunch of free thinking radicals here. gonna pass on some handles to the FBI

[13:07] {Les} or the IRS

[13:07] {dino} i will "shrug"

[13:08] {nemo} thanks "Atlas"

[13:08] {dino} i am going to read it again this spring

[13:08] {Threei} wow

[13:08] {nemo} don't...

[13:08] {Threei} that's what I call devotion

[13:08] {dino} it inspired me, seriously

[13:09] {Les} what's the author's name?

[13:09] {nemo} Ayn Rand

[13:09] {Les} funny, found her name on a kindergarden in episode of the Simpsons

[13:09] {nemo} you were in the army, weren't you?

[13:10] {Les} y

[13:10] {Threei} (GR) Greece names Petros Chistodoulou as new chief of debt management agency (related EUR/GBP NBG )

[13:10] {Threei} {Petros Chistodoulou} why, oh why... what did I do to you Zeus

[13:10] {dino} told couple friends to read it, one said no way heard it was controversial, other read it and called to say "it was the best book he ever read"

[13:11] {Les} yeh will get round to reading it

[13:11] {nemo} "controversial" not that

[13:11] {dino} well, that guy is a bit of a religous nut

[13:12] {nemo} probably believes Mary was a virgin

[13:12] {Threei} I'd guess most so-called progressives consider it either controversial or work of evil

[13:13] {dino} indeed. but as i tell my kids, just because they say it is so, does not make it so. think, what do they believe that is not true

[13:13] {larisa} A German luger, who won a silver medal at the 2010 Winter Olympic Games in Vancouver, broke his tooth after reporters asked him to bite his medal for photo :)

[13:14] {dino} ouch

[13:14] {larisa} this is devotion :)

[13:14] {dino} wcg waking

[13:14] {Threei} rofl

[13:14] {nemo} just a thought...

[13:14] {nemo} FCX will likely have problems at 76, if not, could be long

[13:14] {Threei} wow, market is totally locked

[13:14] {nemo} got vwap and 200 right there

[13:17] {dino} regn blood

[13:17] {Les} GG for .30 b/o?

[13:18] {nemo} how is oil up after that report?

[13:20] {dino} wcg sm l .01

[13:21] {Threei} I doubt it les

[13:21] {Threei} just random

[13:21] {Threei} (GR) Greece Fin Min:EU must provide Greece with more specific requirements; have measures in place to attain budget goals even if GDP declines more than expected

[13:21] {Threei} - cannot rule out a VAT increase and evaluating all options

[13:21] {Threei} - notes it is unlikely will request assistance from IMF but cannot rule the option out

[13:21] {Threei} - remarks that recently highlighted swap deals with banks were legal

[13:27] {Threei} last few days this boring consolidations was resolving into upside move

[13:27] {Threei} iperating under assumption that this is going to be today's case as well,

[13:28] {Threei} Short Setup: VXX .60 breakdown

[13:29] {fernp} .65 or .70

[13:29] {nemo} vwap .72

[13:29] {nemo} 200 ma rather

[13:29] {fernp} ok

[13:30] {Threei} yeah, .65 is way too close

[13:30] {nemo} .66 resistance

[13:31] {dino} my scanners all green

[13:47] {Threei} VXX slowly working its way toward 1:1

[13:47] {fernp} yes

[13:47] {Threei} those superpesky superscalpers got that already

[13:48] {Threei} Les, note the VXX short play, which is essentially long the market... despite my "triple digit red" refrain

[13:48] {ese} L orly .91

[13:48] {Les} saw the call, but just back now from dinner

[13:49] {Threei} Senator Dodd plans to introduce financial regulation reform bill next week - WSJ (related XLF )

[13:49] {Threei} estimed senator doesn't want to introduce "throw the bums out, start with me" bill?

[13:49] {Threei} esteemed too

[13:49] {Les} but the technicals looked good. indices bouncing off moving averages

[13:49] {nemo} he's retiring

[13:49] {Threei} it's not the same nemo...

[13:49] {Threei} less satisfactory

[13:49] {nemo} I know

[13:50] {Les} If Dodd wants a life as lobbyist, he'd wanna be nice with his fellow senators in creating this bill

[13:51] {nemo} big C&H on fcx

[13:53] {Threei} wow larisa

[13:53] {Threei} you called it

[13:54] {nemo} what she call

[13:54] {Threei} pilot left suicidae note before crashing in the building

[13:54] {nemo} yeah burned his house

[13:54] {Les} was he aiming for IRS?

[13:54] {Threei} this intuition of them, switch breakers...

[13:55] {Threei} VXX baby

[13:55] {Threei} out

[13:55] {Threei} .43

[13:55] {fernp} ty

[13:55] {Threei} this one officially takes us in the black for the day

[13:55] {dino} heading up

[13:57] {Threei} over 1:2 who has more patience than I do

[13:58] {dino} patience does i would guess

[13:58] {i2romantis} haven't seen patience on here for awhile

[13:59] {i2romantis} people come and go?

[13:59] {ese} out orly .96 +.05

[13:59] {ese} slim pickens these days

[13:59] {dino} blast off coming imo, es

[14:00] {ese} ya....am gonna miss it....have to go and teach a choir

[14:01] {Les} cool

[14:01] {ese} are you long orly dino

[14:01] {dino} yes at .75

[14:02] {ese} nice......i wasn't concentrating on it....oh well will take my 5 cents

[14:02] {dino} green os green, gj

[14:02] {dino} os-is

[14:03] {dino} feels like a reafan moment on orly, "tear down that wall"

[14:03] {dino} f=g, sheesh

[14:04] {ese} take care all catch you tomorow

[14:04] {Les} bye

[14:04] {dino} cya

[14:04] {Threei} take care ese

[14:06] {Threei} Scared out of their wits, two crash dummies categorically refused to get in Toyota

[14:06] {Les} hmmm

[14:06] {dino} machines taking over

[14:06] {i2romantis} lol

[14:07] {Threei} got an e-mail with car-related jokes

[14:07] {Threei} liked this one the most

[14:07] {Threei} second place I'd give to:

[14:07] {Threei} In the latest news: "Ford to make heated rear bumper as part of the upgrade package" We have listened to our customers who said their hands are freezing when pushing our cars off the road

[14:08] {Les} that's funny

[14:08] {i2romantis} lol

[14:09] {Les} .70 break on XNPT vad?

[14:09] {Threei} well... chart is right... I just don't believe in this stock

[14:10] {Threei} this kind of crashes rarely resolves into easy to play bounces

[14:10] {Les} got 50 ma coming up hard and fast under it. looking to see if it can give it a push

[14:11] {Threei} I personally won't play it but will watch with childish curiosity in my ever-inquiring eyes

[14:14] {dino} was looking at it at .50 break but chickened out, gut wanted 5.95ish

[14:14] {dino} there may be "better worlds than this" les

[14:14] {Threei} totally

[14:15] {Les} yeh. how do you keep on top of all your plays dino?

[14:15] {Threei} vodka

[14:15] {dino} i watch them

[14:15] {dino} hard stops help

[14:15] {Les} multiple screens? you just rotating through your daily list

[14:15] {dino} yes and what my .07 scanner spits out

[14:16] {Les} one of these days will try to list your stocks at opening and continuously monitor them

[14:18] {Les} when the kids are 18 and out of my hair

[14:18] {Threei} again... vodka

[14:19] {dino} fwiw, my daily watch amsc, apol, bwld, enoc (missed entry at .25, ugh), esi, fcx, fdx, fti, gld, ibm, intc, joyg, jst, kss, plce, mos, pot, pwrd, snda, rino, swm, uos, new today, xnpt, wcg, nvda, cab, clw, regn, aap

[14:19] {dino} and oil, $, s/p,ndx/dji

[14:19] {Les} those (except new today) are your regular daily list?

[14:19] {dino} ups, not uos

[14:19] {nemo} triple digit day coming

[14:20] {dino} yes. they change periodically

[14:20] {strider} ya think? which way?

[14:20] {dino} todays new will flot for few days

[14:20] {dino} float/stay

[14:20] {dino} others will drop

[14:20] {Les} ok. first few days they make reasonable plays do they?

[14:21] {dino} yes

[14:21] {Threei} why did we ever bother to cover VXX?

[14:22] {dino} for me les, something that moves big up/down one day is a player until it gets back to the prior point. ex: swm last week, and the new ones today

[14:23] {Threei} dino is counter-trend player on the extreme moves

[14:23] {Threei} and he likes them thin

[14:23] {nemo} stocks?

[14:23] {dino} gals too

[14:24] {Les} ok. I can see SWM has found new equilibre so it is finished for you?

[14:24] {dino} clw drop, its a list maker for few days now

[14:24] {dino} well swm has nice daily of 3 bucks give or take, so we watch it

[14:25] {Les} sorry looking at wrong time frame. yes it is still moving

[14:25] {dino} when that tightens, we drop it

[14:25] {Threei} real liufe and activity will return when we finally reverse backj down, I believe

[14:25] {dino} i use intraday, 5 day120 day, year, and 2 year

[14:26] {Les} yeh but in meantime happy to learn trades that aren't dead as yesterday's... cake, was it?

[14:27] {Les} vxx

[14:27] {dino} everybody says down 3i, gut says too easy

[14:27] {Threei} yup, that's what works day after day

[14:28] {Threei} move against obvious

[14:28] {dino} of course, anything can happen

[14:28] {Threei} the day when yo and larisa finally take my bet we reverse

[14:29] {dino} heres a question, what does china do when opens next week?

[14:30] {dino} and in 3i's court, the main problem i see is cramer is really getting bullish and last week he was gloomy, so contra-indicator

[14:37] {nemo} feels like off to the races soon

[14:38] {dino} clw

[14:46] {dino} lod clw

[14:47] {dino} hate to see them post a miss

[14:47] {nemo} vad wouldn't

[14:48] {nemo} fighting to hold the low

[14:48] {dino} bouncing

[14:48] {dino} think i missed it

[14:48] {dino} perfect db

06[14:49] * nemo slaps dino around a bit with a large trout

[14:49] {dino} lol

[14:50] {nemo} you just wussed out under peer pressure...didn't want to get heckled for obscene profits

[14:51] {dino} no, it felt different, still does, feels lower

[14:53] {Les} half out vxx +.10

[14:54] {dino} gj

[14:55] {Les} needed that. ty. forgotten how to scalp

[14:56] {Threei} how did you manage to forget how to scalp

[14:56] {Threei} when we do that all day every day

[14:57] {nemo} you forget who you're talking to

[14:57] {Threei} lol

[14:57] {Les} belt up nemo

[14:57] {nemo} triple digits green coming

[14:57] {dino} giddy-up

[14:57] {nemo} you belt up dude

[14:58] {Les} trying to take more than a scalp in these last few days of meandering markets. paying for it.

[15:00] {Threei} btw fern

[15:00] {nemo} well, I'm off...flat for today cu 2morow

[15:00] {Threei} rember question about FITB, and answer about it being too narrow?

[15:00] {Threei} look at it

[15:00] {dino} cya fern, nemo

[15:01] {Threei} take care nemo

[15:01] {Les} ciao nemo

[15:03] {dino} out orly .10, +.35

[15:08] {Threei} IMF: USD and EURO are 'overvalued'; Yen is now in line with fundamentals (related EUR/USD USD/JPY EUR/JPY )

[15:08] {Threei} vs what?

[15:11] {Les} all out vxx +.20

[15:11] {Threei} wtg

[15:14] {dino} gj

[15:15] {Les} ty. watching CLW for a 44 b/d setup

[15:15] {Les} oops

[15:16] {dino} clw new lows

[15:21] {Threei} White House CEA's Summers: Expecting to see job creation at some point in 2010

[15:21] {Les} that guy isn't fired yet?

[15:21] {Threei} heh

[15:22] {Threei} can't believe he was hired

[15:22] {Threei} but if Timmy was, what else is neqw

[15:26] {Les} XNPT bouncing. maybe .70 b/d

[15:26] {Threei} Short Setup: AMLN .90 break

[15:26] {Threei} .95 resistance

[15:28] {Threei} Meredith Whitney: Financial stocks will suffer as 'Govt takes the punch bowl away'; expecting lower comps - CNBC interview

[15:29] {Threei} BAC is the 'less worse bank' among banking sector

[15:29] {dino} sm l .00 clw

[15:30] {dino} stop lod

[15:33] {dino} out .47, +.47

[15:33] {Threei} nice

[15:33] {dino} ty

[15:34] {Les} quick. tried to follow you but it was already gone

[15:34] {dino} i just used quarter theory

[15:35] {Threei} if you find a quarter, pick it up?

[15:35] {Les} is it that consistent, quarterly changes?

[15:35] {Threei} I like that theory

[15:35] {dino} lol, .00, .25, .50 etc

[15:35] {Threei} :)

[15:36] {dino} of course cab doesn't get the theory.75 should push it up

[15:37] {Threei} the most boring day in quite a while

[15:38] {Threei} Market Internals update at 3:30pmET

[15:38] {Threei} - NYSE volume 680M shares, about 15% below its three-month average; advancers lead decliners by 1.9:1.

[15:38] {Threei} - NASDAQ volume 1.67B shares, about 4% below its three-month average; advancers lead decliners by 1.1:1.

[15:38] {Threei} - VIX index -4.0% to just under 21.00

[15:38] {Les} I hope VIX doesn't return to previous lows

[15:39] {Threei} if it does, snapback will be horrific

[15:40] {Threei} nore from Meredith:

[15:40] {Threei} - BAC is the "least worst bank" in the sector, BoA has alot of assets to sell and can raise more capital than any other bank (note: in the latest round of quarterly holdings filings many activist hedge funds disclosed increase holdings in BAC and Citigroup, as well as some other large banks).

[15:44] {Threei} US Treasury Sec Geither: Economy beginning to heal; expecting for it to continue to improve

[15:45] {Threei} UN cafeteria has been closed due to a 'suspicous envelope' - Chinese media

[15:45] {dino} they call that meatloaf

[15:45] {Threei} lol

[15:46] {dino} out cab .80, +.30 all dayer

[15:47] {dino} wcg stopped -.28

[15:49] {dino} calling it a day, thx all, good ideas, best day this month for me

[15:49] {Threei} wtg dino, see you tomorrow

[15:49] {Les} ciao

[15:49] {fernp} gj dino

[15:49] {dino} :)

[15:50] {Threei} (CH) China Foreign Min: "Strongly dissatisfied" with Dali Lama visit

[15:52] {Threei} AMLN 1:1

[15:52] {fernp} ty very much

[15:52] {Threei} that cements day as profitable

[15:53] {Threei} not stellar mind you

[15:53] {fernp} true

[15:53] {Les} ty. missed your first VXX call which would have been sweet.

[15:54] {Threei} Toyota Motor Corp US House commitee subpoenas documents on vehicle recalls

[15:54] {Threei} - reminder: Toyota's CEO Toyoda declined to accept the panel's invitation to appear at a Feb 24 hearing on the matter

[15:55] {Threei} takes nasty turn

[15:56] {Threei} okay guys, thank you all

[15:56] {Threei} have a good evening, see you tomorrow

[15:56] {Les} ty. c u tomorrow

[15:57] {fernp} Good evening everybody. See u all tomorrow