Wed Feb 17 2010

Nicely profitable day, thanks to a few TM shorts, CYCC big shares long and a few scalps on VXX and AMSC.

Session Time: Wed Feb 17 00:00:00 2010

[07:51] {Threei} (US) White House Econ Advisor Romer: Sees employment stabilization in US; White House expects to see positive numbers by spring (related EUR/USD TLT SHY SPY )

[07:51] {Threei} CYCC Journal publishes study data suggesting Seliciclib can treat breast cancer resistant to hormone therapy (update

[07:51] {Threei} - A newly published study demonstrates that seliciclib (CYC202 or R-roscovitine), an orally available inhibitor of multiple cyclin-dependent kinases (CDKs), reversed resistance to the aromatase inhibitor letrozole (Femara) and killed hormone receptor positive breast cancer cells that had become insensitive to the effects of letrozole. The new study was published in the current edition of Clinical Cancer Research, a journal of the American Association for Cancer Research. Seliciclib is currently in Phase 2 clinical trials for non-small cell lung cancer and nasopharyngeal cancer.

[08:01] {nemo} another big gap day

[08:01] {nemo} yahoo

[08:01] {Threei} sigh

[08:06] {nemo} DE up 4.50 on earnings

[08:10] {Threei} US) Preview: Jan Housing Starts data due out at 8:30am ET

[08:10] {Threei} - Housing Starts: Consensus expectations are 580Ke

[08:10] {Threei} US) Preview: Jan Import Price Index due out at 08:30ET

[08:21] {Threei} (GR) EU StatsAgency: Greece denied using currency derivatives to hide debt

[08:22] {Threei} - Agency issued guidance to government on use of derivatives in March 2008

[08:22] {Threei} - Sees need for a harmonization of accounting practices in Europe.

[08:30] {nemo} housing good? fas just jumpe

[08:31] {Threei} US) JAN HOUSING STARTS: 591K V 580KE; BUILDING PERMITS: 621K V 620KE

[08:31] {Threei} - Prior Housing Starts revised higher from 557K to 575K

[08:31] {Threei} US) JAN IMPORT PRICE INDEX M/M: 1.4% V 1.0%E; Y/Y: 11.5% V 10.8%E

[08:32] {Threei} Toyota troubles deepen

[08:32] {Threei} possible Corolla recall, power steering problems

[08:32] {Threei} boy...

[08:36] {Threei} 5:42:01 PM

[08:36] {Threei} Toyota Motor Corp To idle production at Texas and Kentucky assembly plants for several days in coming months amid lower demand after recalls - Nikkei News

[08:36] {Threei} - Separate feature from The Times notes company is also considering halting production at its Derby, UK facility.

[08:36] {Threei} 7:34:55 PM

[08:36] {Threei} Toyota Motor Corp Regulators in the US have demanded documents in order to determine if TM's recalls were done in a timely manner - WSJ

[08:36] {Threei} - The document request is from the US National Highway Traffic Safety Administration (NHTSA)

[08:36] {Threei} - The NHTSA may also study if the scope of Toyota's recalls was too limited.

[08:42] {Threei} (GE) IFO's Nerb reiterates view that Weaker euro currency helps the industrical sector of Germany

[08:42] {Threei} - Current EUR/USD exchange rate a positive for German manufacturers

[08:43] {Threei} race to the bottom continues

[08:59] {Threei} US) Preview: Jan Industrial Production and Capacity Utilization due out at 09:15ET

[08:59] {Threei} **consensus expectations:

[08:59] {Threei} - Industrial Production: 0.7%e v 0.6%

[08:59] {ese} morning

[08:59] {Threei} ese :)

[08:59] {fernp} Good morning everybody

[09:00] {ese} fern

[09:01] {Threei} fern :)

[09:02] {nemo} amzn back near the lows...it's weak

[09:04] {Les} afternoon

[09:04] {nemo} yeah, for gmt +1

[09:04] {Threei} kes :)

[09:05] {Les} kes? why not...

[09:05] {Les} you reckon we can ride amzn Nemo? Yesterday's chart looks good

[09:06] {nemo} well...it was weak all day yesterday, an it's showing weak again today

[09:09] {larisa} gm :)

[09:09] {Threei} larisa :)

[09:09] {larisa} vad :)

[09:15] {Threei} *(US) JAN INDUSTRIAL PRODUCTION: 0.9% V 0.7%E; CAPACITY UTILIZATION: 72.6% V 72.6%E

[09:15] {billyc} gm all

[09:15] {Threei} billy :)

[09:17] {dino} gm all

[09:17] {Threei} dino :)

[09:17] {dino} tm bad news continues

[09:18] {lasertrev} morning

[09:18] {Threei} yeah, barrage

[09:18] {Threei} trev :)

[09:19] {Les} yesterday was such a dead day, might keep amzn on screen

[09:19] {ese} anything in this pre mrkt catching your attention vad?

[09:19] {Threei} keeping an eye on CYCC

[09:19] {Threei} TM

[09:19] {ese} tks

[09:20] {strider} DE

[09:20] {ese} am gonna watch with you.....have too many details on my mind ......am gonna go along with your thinkin

[09:21] {ese} .80 break per chance

[09:23] {Threei} on what ese?

[09:23] {nemo} tm?

[09:24] {ese} cycc

[09:25] {Threei} I'd prefer pullback

[09:25] {Threei} breaks on these thick ones often turn into torture

[09:25] {ese} ahhhhh ok

[09:31] {Threei} Dealers comment on the recent 'surge' in the ECB overnight loan facility

[09:31] {Threei} - Dealers seemed to focus on the ECB overnight lending facility and the recent spike up in borrowings. The take-up in the o/n facility has been large but markets have assumed that Thursday's report should paint a different picture as the one-week week auction should bind the gap. However, dealers do caution that IF the large overnight borrowings remainin the system then perhaps the European peripheral situation is a larger problems then the recent soothing rhetoric from the Eurogroup and Ecofin admits. Some speculation that the recent surge was a failed Greek repo trade which has now been bridged.

[09:31] {Threei} Short Setup: TM .75 break half lot

[09:31] {Threei} if stays under .90

[09:32] {strider} no bids between .75 and .70

[09:32] {Threei} invalidated for now

[09:33] {Threei} but worth keepoin g on a backburner

[09:34] {dino} vmi

[09:35] {ese} cycc toughts vad

[09:35] {ese} thoughts

[09:36] {Threei} around .75 I'd feel mich safer

[09:36] {Threei} TM reestablished

[09:37] {ese} hmmmmm good to know....thats kinda what i was hinking as well......

[09:37] {ese} maybe i am learning something vad

[09:37] {nemo} tm

[09:38] {Threei} either original setup, or stop above .95

[09:38] {Threei} kind of discretionary decision

[09:38] {nemo} spy db

[09:40] {Threei} SIGA Strength attributed to speculation that SIGA could be among potential awardees for US govt medical countermeasures contract that is scheduled to be awarded on or about September 16, 2010

[09:40] {Threei} - proposals for the contract are due March 15, 2010 and the contract will be awarded in Sept.

[09:43] {Threei} 1:1 TM

[09:43] {Threei} should go more

[09:43] {Threei} half out

[09:44] {Threei} stop to .80

[09:44] {Threei} scalpers are scalpers

[09:45] {larisa} real mess this morning at MBT. all BP show 0.00 :) people screaming, server down, help lines busy.

[09:46] {Threei} 1:2 TM

[09:46] {Threei} out 1/4 more

[09:46] {Threei} +.40

[09:46] {Threei} stop to .70 for the l;ast part

[09:47] {dino} cov tm .37, +.38

[09:47] {dino} ty vad

[09:47] {Threei} welcome sir

[09:48] {Threei} starts looking like double bottom bounce

[09:48] {ese} L sqnm .51

[09:48] {Threei} don't wast to go long on it

[09:48] {Threei} but trailing stop to abpove .60

[09:49] {Threei} aww, forgot about SQNM

[09:49] {Threei} thought of yesterday's high break

[09:50] {Threei} ok TM, let's lose .30 and die

[09:50] {ese} out .54 +.03

[09:51] {Les} amzn bounce before b/d methinks

[09:57] {Threei} Short Setup: WFC .50 break

[09:57] {Threei} if stays below .55

[09:58] {Threei} done with last portion TM

[09:58] {Threei} lol, I still feel it's a $30 stock

[09:59] {Threei} anyway, that was a good way to start the day

[09:59] {Threei} ese, caught CYCC under .80?

[10:00] {dino} fcxsm l .66

[10:00] {ese} no.........was waiting for you to take a look

[10:01] {Threei} I got a bit stretched out... just looked at it

[10:01] {ese} although quick breakout at .95 looks lpromising

[10:01] {Threei} or pullback into .85

[10:01] {ese} indeed

[10:03] {dino} out fcx -.10

[10:04] {Threei} neat tight stop for such a stock

[10:04] {Threei} what the deuce

[10:04] {Threei} missed CYCC again

[10:04] {dino} mkt dropped so did i

[10:04] {fernp} en SDS

[10:05] {Threei} it wasits for me to look somewhere else to do what I expecteds it to

[10:05] {dino} open gap fills on the way

[10:05] {dino} cat not really following de

[10:10] {fernp} WFC stopped

[10:10] {nemo} and then some

[10:15] {Threei} Long Setup: AMSC 32 break

[10:15] {Threei} if stays above .90

[10:16] {Threei} 1:1

[10:16] {fernp} missed

[10:17] {nemo} grabbed coffee

[10:17] {Les} didn't chase

[10:17] {larisa} lol

06[10:17] * Threei shrugs and removes himself to a monastery

[10:17] {Les} hear no evil, see no evil, speak no evil

[10:17] {nemo} this is my monday...I catch the stop miss the winners

[10:19] {dino} sm l pwrd .44

[10:21] {Threei} magoo's favorite stock moves

[10:21] {Threei} HIHO

[10:22] {Les} short vxx for a possible b/o here? say .30?

[10:22] {Threei} hmm

[10:22] {Threei} worth a try I guess

[10:23] {Threei} market shows breakout forming

[10:25] {Threei} smackdown right from the break level

[10:26] {Les} yeh found myself prematurely evacuating

[10:27] {Les} what, not biting Nemo?

[10:28] {Les} TM coming back to lod

[10:28] {Threei} ACOR...

[10:28] {Threei} nears 52 week high

[10:34] {dino} giddy-up

[10:34] {Threei} VXX 1:1

[10:37] {Threei} AONE Strength attributed to yesterday's filing disclosing a new stake by Qualcomm

[10:38] {strider} tm

[10:39] {Threei} breakdownish look

[10:39] {Threei} inverted C&H

[10:39] {strider} short .38

[10:39] {strider} .28

[10:41] {Threei} EUR/USD Moves below 1.3690 which was seen as short term techincal support

[10:42] {Threei} new low TM

[10:44] {Threei} anyone found a play in ACOR?

[10:53] {nemo} amzn triangle

[10:56] {Les} big buy order .11 on TM

[10:58] {Threei} you covered any strider?

[10:59] {strider} oh, I'm out ...looking to get back in, though.

[11:00] {strider} Since it seems to bounce when breaking support, thought I'd wait for a break of .11, and put in an offer of .17

[11:00] {strider} whoops

[11:00] {nemo} yeah, I was reading the essage when it broke

[11:00] {nemo} message

[11:00] {Les} scared crap out of me . short .10

[11:00] {strider} didn't boiunce this time.

[11:01] {Threei} still may

[11:01] {Threei} too thin to go one way for too long

[11:03] {strider} HOG constipated

[11:03] {strider} won't give it up.

[11:03] {Threei} {HOG} leave my colon alone

[11:04] {strider} some people would call this consolidation before a breakout.

[11:04] {nemo} smells like cologne...

[11:04] {strider} doesn't sound like it though.

[11:04] {nemo} fcx low

[11:08] {Les} amzn

[11:10] {Les} U got a working hypothesise for close vad? doji? down? up?

[11:10] {Threei} down

[11:10] {Threei} triple digits

[11:10] {nemo} broken record :)

[11:10] {Threei} of course I had the same for yesterday, and we all know how well it worked

[11:10] {Les} lol

[11:10] {nemo} it was triple digits

[11:10] {dino} keep betting red

[11:11] {Threei} UA) IMF: Directors have agreed that the Dirham peg to the USD has been positive; assisted economic stability

[11:12] {Threei} so why don't we all peg to USD and be done with whole currency trading thingy?

[11:12] {Les} Dirham - had to look that one up

[11:12] {Threei} look up rougrick while you are at it

[11:13] {Threei} tougrick

[11:13] {Threei} and hryvnya

[11:14] {Les} no luck on tougrick

[11:15] {Les} funny, thought Russian influence in Ukraine extended to currency as well

[11:15] {Threei} gosh, they have too many spellings for that currency

[11:15] {Threei} tugrik

[11:16] {Threei} grg

[11:16] {Les} got it

[11:16] {nemo} nice...how you do umlauts?

[11:16] {dino} enoc sm l .20

[11:16] {nemo} or diaresis

[11:17] {nemo} Vad, how'd you get the two dots?

[11:17] {Threei} just copied and pasted

[11:18] {nemo} really

[11:18] {Threei} Fed's Bernanke to testify before a House committee on Feb 24 dealing with exit strategies

[11:18] {Threei} - Note: This testimony was delayed from 2/10; when Bernank's written text was released: Highlights: - TAF and TALF will be phased out before long (scheduled to close June 30 for all loans); any change in discount rate would be modest.- Should not expect sale of securities in the short term (Note: Bullard recently noted that the Fed would sell assets in the 2H10); would sell securities once the recovery is considered "sufficiently advanced."- Will use use interest on banking reserves as the focal policy target.

[11:19] {Les} TM

[11:19] {Les} out +.20

[11:19] {Les} crap

[11:19] {strider} hemorrhage, TM

[11:20] {Threei} it's not $30 yet?

[11:20] {Threei} strange

[11:20] {strider} main artery

[11:20] {dino} stoped enoc

[11:21] {strider} got your buy order in down there, vad?

[11:21] {Threei} no, will reevaluate when it gets there

[11:22] {strider} Maybe they'll have a 'buy a car, get free stock' plan.

[11:23] {Threei} IMO{ real scope of troubles is yet to reveal itself

[11:23] {Threei} it's not just a recall, "fix and be done with it"

[11:24] {Les} what, you think this "cut corners" CEO has done more lasting damage

[11:25] {Les} ?

[11:25] {Threei} whole story is way more than just a quality problem

[11:26] {Threei} it's undermining of Toyota major strength

[11:27] {Threei} it takes away the main reason why people preferred their cars over competitors

[11:28] {Les} unless they work 200% to return that quality ASAP

[11:28] {Les} TM

[11:36] {dino} open gaps filled

[11:36] {Threei} sorry, got distracted for a min

[11:36] {Threei} it's worse than that Les, IMO

[11:36] {Threei} the development makes people question whether that praised quality was there in a first place

[11:37] {Threei} indications are the problems are now new

[11:37] {Threei} not new

[11:37] {Threei} and were hidden and avoided

[11:37] {fernp} jpm .94

[11:37] {Threei} that undermines faith, integrity

[11:38] {Threei} CYCC Update: Merriman reiterates Buy rating, price target $7-8

[11:40] {Threei} hmmm

[11:41] {Threei} you'd expect $3 dollar stock jump on such target, even reiterated

[11:41] {Threei} Short Setup: RIMM .55 break

[11:41] {Threei} .65 resistance

[11:42] {dino} fcx gap around 76.75

[11:42] {dino} 73.75

[11:43] {Threei} TM no even bounces anymore

[11:43] {Threei} just straight down

[11:43] {nemo} .95 is s3 support for fcx

[11:44] {Threei} Cyclacel Pharmacutical Inc Update: Merriman reiterates Buy rating, price target $7-8

[11:44] {Threei} - Firm finds it encouraging that seliciclib is showing evidence of efficacy in a variety of important tumor types.

[11:44] {Threei} - Reminder: Cyclacel announced today the publication of pre-clinical data pertaining to seliciclib and its use in killing aromatase inhibitor-resistant breast cancer cells.

[11:45] {Threei} let's tighten RIMM to above .60... lunch time is lunch time

[11:46] {Threei} no point in giving it much room

[11:46] {Threei} lol, who would have thought RIMM could be played with 5 cents stop

[11:47] {nemo} nw

[11:49] {Threei} out

[11:49] {fernp} me too

[11:54] {dino} enoc gap fill dec

[11:56] {dino} sm l .13

[12:00] {nemo} amzn respecting trendline

[12:00] {Threei} Market Internals update at 12:00pmET

[12:00] {Threei} - NYSE volume 425M shares, about 1.5% below its three-month average; advancers lead decliners by 1.2:1.

[12:00] {Threei} - NASDAQ volume 970M shares, about 4% above its three-month average; advancers and decliners are about even.

[12:00] {Threei} - VIX index +0.35% to just over 22.00

[12:01] {dino} fcx sm l .25

[12:02] {ese} .

[12:03] {dino} .

[12:05] {Threei} all good points

[12:05] {Les} point being?

[12:05] {Les} s amzn .99

[12:06] {Les} rimm spike down

[12:07] {Threei} EK Reportedly getting patent review to block imports of iPhone and Blackberry - unconfirmed report (related AAPL RIMM )

[12:12] {ese} ahhhhhhhh I didn't get it.....but now i do. dino and I signed in with a period.....witty vad very witty!

[12:12] {ese} ya see....school never did me no harm.......it only took me 7 minutes to get it

[12:13] {Threei} lol

[12:14] {dino} hmmmmm

[12:14] {_jfjf64} hello my friends

[12:14] {Threei} jf!!

[12:14] {ese} just scanning through stocks.......don't know what to look for really.....

[12:14] {Threei} welcome back

[12:14] {ese} jf

[12:14] {dino} hi jf

[12:14] {_jfjf64} im back

[12:14] {Threei} man, are you taking superlong vacations or what

[12:14] {_jfjf64} vad

[12:14] {_jfjf64} ese

[12:15] {_jfjf64} dino

[12:15] {_jfjf64} long vacation lol

[12:15] {ese} jjjjjjjjjjjjjjjjjjjjjjjjjffffffffffffffffffffffffff!!!!!!!!!!!!!baby.........there you gothe bi welcome back

[12:15] {ese} big

[12:15] {_jfjf64} ty

[12:16] {Threei} how's Italy?

[12:16] {_jfjf64} was good

[12:16] {_jfjf64} spent all my cash lol

[12:16] {Threei} you haven't been to Greece, have you?

[12:17] {ese} js....is that where you were? Thats where my family and i are headed Mar 5

[12:17] {Threei} just wondering, maybe your spending would have saved them

[12:17] {_jfjf64} funny

[12:18] {Threei} watching TM for topping out and resuming downtrend

[12:18] {Threei} volume dried up... not sure if this is a topping sign or simply lunch time, can't tell

[12:19] {Threei} larisa, this is closer to your setups than mine... see any signs on TM beong ready to drop again?

[12:19] {larisa} it actually broke downtrend when went over .25

[12:19] {Threei} it did

[12:19] {Threei} but it has to break uptrend at some point

[12:19] {Threei} which is what I am looking for

[12:40] {Threei} OK, who is ready to try

[12:40] {Threei} Short Setup: TM .60 break if stays under .70

[12:40] {Threei} half lot

[12:40] {_jfjf64} $$

[12:44] {Threei} ESE

[12:44] {Threei} CYCC

[12:44] {Threei} probably makes sense now with stop under .65

[12:44] {dino} out pwrd +.40

[12:45] {Threei} ugh... upticked while I typed

[12:45] {Threei} ok, back into buying zone

[12:45] {Threei} (US) Fed's Plosser: Fed faces threats to its independence

[12:47] {Threei} favors selling MBS as the economy strengthens

[12:47] {Threei} - Modest economic recovery has begun, seeing some signs of slow recovery in job market.

[12:47] {Threei} - Wants to end Fed emergency lending powers

[12:47] {Threei} - Auditing monetary policy would be a bad idea, would compromise the Fed's rate setting powers.

[12:47] {Threei} no really?

[12:47] {nemo} should we tighten stop on tm it's looking long

[12:48] {Threei} where do you tighten it... :)

[12:48] {nemo} .65

[12:48] {Threei} above .65?

[12:48] {nemo} yeah

[12:48] {Threei} well... whole trade is discretionary, so why not this too

[12:48] {nemo} hehehehe

[12:49] {Threei} I think auditing my taxes is a bad idea, it would compromise my spending powers

[12:50] {ese} hey vad....was on the phone to questrade.......talking about closing out my acct in the future and getting my P/L statement for the year

[12:50] {Threei} get them to show P as theirs and L as yours

[12:50] {ese} what are ya thinkin with cycc

[12:50] {Threei} may help with taxes

[12:51] {Threei} I thing .70 with stop under .65

[12:51] {Threei} think

[12:51] {ese} how do you mean

[12:51] {Threei} never mind, my hyppopotamus sense of humor

[12:51] {ese} ha ha

06[12:52] * Threei hits TM over the head with 2x4

06[12:52] * Threei hits TM over the head with 2x4 endowed with rusty nails

[12:52] {ese} L cycc .71

[12:52] {nemo} out scalp ty

[12:52] {Threei} welcome

[12:53] {ese} sm 4k

[12:53] {ese} 3k

[12:53] {ese} can't read when i type now....sheesh

[12:53] {Threei} shrug

[12:54] {nemo} wow...DE has been steadily down since the open

[12:54] {Threei} try can't read, can't type, too lazy ti think, and when try to type wioth my elbows pout of curiosity - find out that somehow it's worse than if I type with my knees

[12:56] {ese} lol

[12:58] {nemo} boy, we lucked out on tm

[12:58] {dino} gj

[12:58] {nemo} 73.90 is 200 ma. next likely hiccup

[12:58] {Threei} I half lucked - tried to keep half

[12:58] {nemo} vwap there too

[12:58] {Threei} stoped b/e

[12:58] {_jfjf64} nicenice

06[12:59] * nemo slaps Threei around a bit with a large remember it's a LUNCHTIME! scalp

[12:59] {Threei} yeah

[12:59] {Threei} I guess TM invokes this thirst for blood in me

[12:59] {nemo} no...

[12:59] {nemo} greed...

[12:59] {nemo} amzn at 200 ma

[13:00] {Threei} what I want now is CYCC catching eod strength and closing somewhere around .85

[13:00] {Threei} and my day would be nicely rounded

[13:00] {nemo} amzn at resistance

[13:00] {Threei} that morning TM short made it a good day no matter what

[13:01] {dino} you played it well

[13:01] {Threei} ty... felt blood in the water

[13:02] {nemo} s tm .84

[13:03] {nemo} stop .90

[13:03] {dino} fcx to .65

[13:03] {nemo} where'd you get in Dino

[13:03] {larisa} your FCX entry was perfect dino, imo

[13:04] {dino} .25

[13:04] {dino} ty larisa

[13:04] {dino} .76 area wall

[13:05] {nemo} stopped

[13:05] {dino} out +.40

[13:06] {larisa} gj

[13:06] {dino} ty

[13:15] {Threei} little H&S TM

[13:16] {Threei} bounce to .85 - .90 area shouyld be a short entry

[13:16] {ese} cycc cycc cycc you must go up for me......cycc cycc brand new nursury rhyme

[13:16] {nemo} meds ese, meds...

[13:16] {Threei} stop above .95 for stingy, above 74 for a bit more generous

[13:17] {Threei} first weakness from here

[13:17] {ese} ya ya ..........pheeeeewwwww.......ya ya .....i'm ok

[13:18] {nemo} market looks like it wants up, probably take tm with it

[13:20] {nemo} rimm dt...lower volume this high

[13:22] {_jfjf64} sndk .20 break

[13:23] {Threei} time for violence?

06[13:23] * Threei hits TM over the head with 2x4 endowed with rusty nails and barbwire

[13:24] {nemo} dip them in curari

[13:24] {nemo} pure nicotine will do it also

[13:24] {Threei} comeon, that's cruelty

[13:24] {nemo} nah, die painlessly...if you don't count the bludgeoning

06[13:25] * Threei hits TM over the head with 2x4 endowed with rusty nails and barbwire dipped in chocolate

[13:25] {nemo} that's cruel...

06[13:28] * Threei puts grenade into TM's backback and poulls out the pin

[13:30] {patience} patience puts bacon on to cook to stop the violence

[13:30] {Threei} hmmm

[13:30] {patience} what did i miss?

06[13:30] * nemo taser's tm

[13:31] {Les} Vad, does AMZN spike outside of bb's indicate a reversal? - 13:19

[13:31] {Threei} connection between vioelnce and profits?

[13:31] {patience} oh, widespread violence

[13:31] {nemo} mafia trading

[13:31] {Les} or is indicative that a reversal will occur?

[13:31] {patience} hmmm....room seems to be changing while i am out training

[13:31] {nemo} well...

[13:31] {Threei} not necessary Les

[13:31] {nemo} TM is now above it's 200 ma

[13:31] {Threei} by itself it doesn't indicate anything certain

[13:32] {Les} ok. a little surprised by the selloff following that reversal

[13:32] {Threei} just shows that move is becoming a bit too extreme

[13:33] {Threei} Fed's Plosser: Fed does watch the USD for signals for the US economy; has no target for the USD

[13:33] {Threei} (US) Preview: Minutes of the Jan 27 FOMC meeting and Fed economic forecast to be released at 14:00ET

[13:33] {Threei} - Today's minutes will shed light on the discussion of the "extended period" phrase that is currently the lynchpin of Fed policy as well as the timing of future asset sales to reduce the swollen Fed balance sheet. The Fed will simultaneously release its revised economic forecast.

[13:33] {Threei} hmmm

[13:33] {Threei} some shock is probably coming

[13:34] {Threei} - The arguments raised by Kansas City Fed President Thomas Hoenig will be of particular interest after he registered a dissent against the "extended period" language at the Jan 27 meeting. Hoenig "believed that economic and financial conditions had changed sufficiently that the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted."

[13:34] {Threei} The minutes may reveal whether some other FOMC members are starting to waver on this point or if they are developing more nuanced views of the extended period. In recent comments other FOMC members have tried to put a timeframe on "extended period," with Vice Chairman Dudley describing it as at least 6 months but as much as 1-2 years depending on the economy. In December, Charles Evans, a non-voting member, suggested the phrase means 3 to 4 FOMC meetings out.

[13:34] {Threei} - The minutes will also be scanned for discussions of timing and sequencing exit strategies. Chairman Bernanke elaborated on the top in Feb 11 testimony on exit strategies. Bernanke commented that the Fed may opt to raise discount rate before long

[13:35] {Threei} that is going to be a big load of Feds crap poured on market

[13:39] {Threei} tightening to .95 TM

[13:39] {Threei} don't want to get caught into sharp spike

[13:40] {Threei} scalp near .80 weas a good idea, eh

[13:41] {nemo} :)

[13:41] {nemo} made a db at .80

[13:42] {nemo} indices yet to break their upward trend lines

[13:47] {nemo} spy broke

[13:47] {nemo} paint dry yet?

[13:47] {dino} who pulled the plug?

[13:47] {nemo} where's magoo...

[13:47] {Threei} I guess careful ones prefer to exit before FOMC minutesa

[13:47] {dino} he's here

[13:48] {dino} minutes are out i think

[13:48] {Threei} smack him over the head with some fish

[13:48] {Threei} no, at 2 pm

[13:48] {nemo} 2:00

[13:48] {dino} alrighty

[13:48] {nemo} Ace

[13:48] {dino} my bad, plosser speach

[13:49] {nemo} try that again...

[13:50] {Threei} ok... nemo, you tell me what to do

[13:50] {Threei} cover TM this time?

[13:51] {Threei} wait for a drop?

[13:51] {nemo} indices are with you...partial

[13:51] {Threei} may indices be with you...

[13:52] {nemo} and also with you...oh oh

[13:52] {Threei} lol

[13:52] {nemo} then again, get out before the minutes

[13:55] {dino} use the force

[13:55] {nemo} it brought back memories of the catholic mass..oy vay

[13:55] {Threei} I tried

[13:56] {Threei} patience admonished me

[13:56] {Les} .95 break of amzn?

[13:56] {Threei} 4 min till FOMC Les

[13:56] {Threei} why would you want to open any position now

[13:56] {nemo} you forget who you're talking too

[13:57] {Les} FOMCy schmopsy

[13:57] {nemo} not bad...

[13:57] {Threei} ok, I'll try it this way:

[13:57] {Threei} les than 4 min les

[13:57] {Threei} why do you need more troublesZ?

[13:57] {nemo} DON'T TRADE BEFORE POTENTIALLY IMPORTANT NEWS

[13:58] {Les} yeh yeh. I've made enough trouble for myself today already

[13:59] {Les} ok. some education

[13:59] {Les} http://up.wbe01.mibbit.com/up/8vUroIXU.gif

[14:00] {Les} is this the reversal pattern you've called before Vad?

[14:00] {Threei} *(US) JAN MONTHLY BUDGET STATEMENT: -$42.6B V -$46BE

[14:00] {Threei} - 16th straight month of budget deficits, longest stretch in recorded history.

[14:00] {Threei} MINUTES OF THE JAN 27 FOMC MEETING: AGREES ON NEED TO SHRINK ASSETS SUBSTANTIALLY OVER TIME; RAISES GDP FORECAST

[14:01] {Threei} haslf out TM

[14:01] {Threei} out in full

[14:02] {Threei} yes Les, head and shoulders

[14:02] {Les} ?

[14:02] {Threei} ?

[14:02] {Threei} 14:00] {Les} is this the reversal pattern you've called before Vad?

[14:03] {Threei} [14:02] {Threei} yes Les, head and shoulders

[14:03] {Les} I'm just refering to the two down spikes

[14:03] {Les} first one out of bb's

[14:03] {Les} 2nd one inside bb's

[14:03] {Threei} how do I know then what you are referring to? you show a screenshot and ask whether it's a pattern I meant

[14:03] {Threei} I see two of them there:

[14:04] {Threei} one is head and shoulder I referede to earlier,

[14:04] {Les} cool .see that now

[14:04] {Threei} another is double top you named just now,

[14:04] {Threei} with those two tops

[14:04] {Threei} yes about their relation to BBs

[14:04] {Les} ok ty.

[14:04] {Threei} so, two nice chart patterns signalling the same direction

[14:04] {Threei} fair trade

[14:05] {Threei} time of the day was not very appropriate,

[14:05] {Threei} plus this FOMC crap

[14:05] {Threei} but worked for us, and stop was 7 cents

[14:05] {Threei} so it's over 1:2

[14:06] {Threei} ok, lewt's see what they produced

[14:06] {Threei} - most members expect recovery to be slower than previous recoveries

[14:06] {Threei} - inflation to remain subdued for some time

[14:06] {Threei} - Hoenig believed that it would be more appropriate for the Committee to express an expectation that the federal funds rate would be low for some time--rather than exceptionally low for an extended period.

[14:06] {Threei} - Federal Reserve will be closing the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, and the Term Securities Lending Facility on February 1, as previously announced.

[14:06] {Threei} In addition, the temporary liquidity swap arrangements between the Federal Reserve and other central banks will expire on February 1. The Federal Reserve is in the process of winding down its Term Auction Facility: $50 billion in 28-day credit will be offered on February 8 and $25 billion in 28-day credit will be offered at the final auction on March 8. The anticipated expiration dates for the Term Asset-Backed Securities Loan Facility remain set at June 30 for loans backed by new-issue commercial mortgage-backed securities and March 31 for loans backed by all other types of collateral

[14:08] {Threei} - One member recommended that the FOMC replace the portion of the statement that indicates the Committee will evaluate its "purchases" of securities with an indication that the Committee will evaluate its "holdings" of securities.

[14:09] {Threei} that was a good TM cover

[14:09] {nemo} yep

[14:09] {nemo} it's holding the 200 ma

[14:09] {dino} amsc l .80

[14:10] {dino} out enoc .57, +.44

[14:10] {Threei} wtg

[14:10] {dino} ty

[14:19] {Les} vxx for a .55 b/o?

[14:19] {ese} interesting jump in the qqqq

[14:20] {Threei} hard to tell Les

[14:20] {Threei} market jumps up and down, not establiashing direction yet

[14:21] {ese} sorry that was not the qqqq that was stec i was looking at

[14:22] {Threei} good one ese, re: previous reference to "can't read, can't type"

[14:22] {Threei} it's contagious

[14:23] {nemo} tm right at 200 ma, consolidationg

[14:24] {ese} i'll say

[14:24] {nemo} ha a gap up in tm

[14:25] {Threei} ?

[14:25] {nemo} .03 gap on my chart 2 minutes ago

[14:26] {Les} AMZN .80 b/d?

[14:26] {Threei} probably... but keep an eye on market like a hawk

[14:27] {Threei} CYCC baby

[14:28] {Threei} half out at .77

[14:29] {Threei} ese?

[14:29] {Threei} caught this spike?

[14:29] {ese} was just about to say thqt cycc baby!!!

[14:31] {ese} still in vad 3k isn't enough for me to go 1/2 out

[14:31] {ese} gonna let it run for a little

[14:31] {Threei} you are uncharacteristically timid today :)

[14:31] {ese} yes....

[14:32] {ese} have been for a few weeks now really.......too much crap going at school

[14:32] {ese} very distracting.....trying not to let it get in the way of my trading

[14:32] {Threei} Market Internals update at 2:30pmET

[14:32] {Threei} - NYSE volume 655M shares, about 2% below its three-month average; advancers lead decliners by 1.2:1.

[14:32] {Threei} - NASDAQ volume 1.45B shares, about even to its three-month average; advancers lead decliners by 1.1:1.

[14:32] {Threei} - VIX index -2.5% to just under 21.00

[14:42] {nemo} fas approaching 200, possible resistance at .40

[14:47] {Threei} Tiger Woods schedules announcement on Golf at 11am on Friday - CNBC (related ERTS NKE )

[14:48] {Threei} EBAY CEO: Would consider acquisitions or JVs in Russian market

[14:48] {Threei} - Sees Russian ecommerce market worth $5B a year, sees potential for $20B a year

[14:49] {dino} bgc l 34

[14:50] {dino} hl l fti .75

[14:51] {larisa} laser problems with Times and sales?

[14:51] {nemo} nope

[14:53] {Threei} looks fine

[14:53] {larisa} hm, reconnected and just getting empty boxes

[14:53] {nemo} try different quote server

[14:53] {larisa} you think i did not ? :)

[14:53] {nemo} in the teens

[14:54] {Threei} try diff T&S server? :)

[14:54] {nemo} try 17

[14:54] {larisa} quotes are fine, TS are problem

[14:54] {Threei} 15 and 1 here

[14:54] {larisa} interesting :)

[14:54] {Threei} TS 1

[14:55] {larisa} tried all of them. Guess will go watch Olympics

[14:55] {Threei} wait

[14:55] {strider} There are 5 t&s servers listed. I've never been able to see that they do anything when you change.

[14:55] {Threei} you have combinations

[14:56] {Threei} 20 quote servers and 5 T&S

[14:56] {larisa} level 2 works just fine

[14:56] {Threei} try all combinations

[14:56] {Threei} it's 100

[14:56] {strider} 100 combinations?

[14:56] {strider} That;ll keep you off the streets for awhile, larisa.

[14:56] {Threei} lol

[14:57] {Threei} Tesla CEO Musk: Trying to confirm who was on the plane that crashed, no immediate details available

[14:57] {Threei} - Note that earlier today there were reports of a plane that crashed carrying several Tesla executives.

[14:57] {Threei} CYCC baby

[15:00] {ese} out cycc .79 +.08.....i'm outta there

[15:04] {Les} TM busting through 74

[15:06] {strider} Buy! Buy!

[15:07] {Les} some consolidation 1st please

[15:09] {Threei} uh oh

[15:09] {Threei} BKC Planning to raise price on the $1 double cheeseburger in April - Chicago Crains

[15:09] {Threei} - $1 double cheeseburger to remain with 1 slice of cheese; two slices will be charged at $1.19 (related MCD WEN )

[15:09] {nemo} all footlongs $5 at subway

[15:10] {lasertrev} lol

[15:10] {Threei} nemo, we still have time till April

[15:10] {Threei} buy all $1 ones we can, freeze them,

[15:11] {nemo} ahhhhh?

[15:11] {nemo} cool

[15:11] {nemo} don't like cheeseburgers anyway

[15:11] {Threei} sell at $1.019 when they raise to $1.19

[15:11] {Les} cooking them at home doesn't taste better?

[15:11] {nemo} hit the bids

[15:11] {nemo} umbrella trade

[15:11] {Threei} we will undercut them and make a fortune

[15:13] {strider} Well, don't quit your day job.............wait, you don't have a day job!

[15:14] {Threei} sigh

[15:14] {Threei} you are a dream-suffocator

[15:14] {nemo} triple digit down, huh Vad?

[15:14] {nemo} H's O D

[15:14] {Threei} well, we may have to wait for that

[15:15] {nemo} yeah

[15:15] {Threei} but what's my risk - no one takes my bets anyway

[15:15] {nemo} it goes in the dail log

[15:15] {Threei} and as klong as this bias doesn't impact my trading, I view it as riskless fun

[15:15] {Threei} which in this era of AIDS is not shabby at all

[15:16] {dino} out fti .99, +.24

[15:16] {Les} what's basis for your selloff hunch?

[15:16] {Les} market remains a bounce vad?

[15:16] {nemo} He's channeling Cramer

[15:16] {Les} ouch

[15:16] {Les} well his track record is proven better than cramer

[15:17] {Threei} why do I have to have basis?

[15:17] {Les} there is no basis for these calls?

[15:18] {Threei} calls??

[15:18] {Threei} calls are buy, sell, stop, exit

[15:18] {Les} working hypothesis

[15:18] {Threei} this is working assumptions

[15:18] {Threei} right

[15:18] {Threei} they are not calls-impacting,

[15:18] {Les} but why 2 days in a row thinking of red?

[15:18] {Threei} they are a stanhdard against wheich observable events are measured

[15:19] {Les} you like blood?

[15:19] {Threei} who doesn't?

[15:19] {Threei} I see a market drop, then bounce, volume dries up

[15:19] {Threei} dollar goes up

[15:19] {Les} ok, so there is a basis

[15:19] {Threei} why wouldn't I assume that downside is more likely?

[15:20] {Threei} but it doesn't mean that's how I am going to trade

[15:20] {Threei} it mweans that what I am going to check for

[15:20] {Les} sure. I thought you were just messing with our heads

[15:20] {Threei} and if it happens - I have one set of plays,

[15:20] {Threei} if doesn't - another

[15:21] {Threei} this is main point

[15:21] {ese} outta here for the day.....catch ya tomorow

[15:21] {Threei} take care ese

[15:21] {Threei} never form a bias that locks youi into directional trades

[15:21] {Threei} keep it as a working assumption, check if it materializes

[15:21] {Threei} and be ready for any of scenarios

[15:22] {Threei} the only bet it's good for is a beer bet with dino and larisa

[15:22] {Threei} we do it for years, long lost track who owes how much beer to whom

[15:22] {Threei} but never miss a chance to make yet anothger bet

[15:23] {Les} ok. tradition is it

[15:24] {dino} someone say bet?

[15:24] {Les} vad says he owes you beer

[15:25] {dino} very good

[15:27] {Les} QCOM .40 b/d?

[15:28] {Threei} doesn't look right to me

[15:28] {Les} ok

[15:35] {nemo} markets likely to run into the close

[15:39] {Threei} QCOM starts looking better

[15:39] {nemo} getting late

[15:39] {Les} ah yeh

[15:40] {Threei} still discretionary trade but at least makes right foermation now

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

[15:45] {Threei} and CYCC long

[15:45] {Threei} lol

[15:46] {larisa} makes a joke, laughs at joke :)

[15:46] {Threei} that's called self-sustainability

[15:47] {dino} bgc stopped

[15:47] {Threei} in our era of insufficient resources and growing population I ought to be commended for it, not reperimanded

[15:49] {Les} hmmm. I'd argue washington provides ample resources for jokes and laughs

[15:50] {Les} becoming a national resource

[15:50] {Les} QCOM rinsed me

[15:51] {Threei} that's raw material

[15:51] {Threei} still have to extract the core and work on it

[15:57] {Threei} skipping CYCC

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

[15:58] {Threei} all in all, nice day

[15:58] {Threei} thasnk you all

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

[15:59] {nemo} cya

[15:59] {Les} ty

[15:59] {dino} out amsc .77

[15:59] {larisa} and thasnk you right back :)

[15:59] {lasertrev} good night all

[15:59] {Threei} sigh

[15:59] {Threei} this woman is unforgiving today

[16:00] {Threei} Reports Q4 -$0.17 v $0.03e, R$1.38B v $1.2Be

[16:00] {Threei} LVS

[16:04] {dino} gn all