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Forum date: 07-01-10
JayBird [0:38]: Tomorrow morning, two economic reports are scheduled to be released before the open: Continuing Claims (Consensus 4510K) and Initial Claims (Consensus 458K).
nester [7:43]: ROME (AP) -- Global stock markets fell Thursday after weak manufacturing surveys provided new evidence that the world's biggest economies, from the U.S. to China and Europe, are slowing.
The euro, however, gained ground against the dollar -- trading 0.5 percent higher at $1.2297 -- on signs that European banks are less strapped for cash than feared.
The FTSE 100 index of leading British shares slid 1.19 percent to 4,858.42. Germany's DAX was down by 0.77 percent to 5,919.45, while France's CAC-40 was 1.76 percent lower at 3,382.2.
Negative manufacturing news out of China took the wind out of markets already smarting from Wall Street's slide overnight on news that U.S. consumer confidence dived in June. The purchasing managers' index in China declined to 52.1 in June, its lowest since February, indicating a cooling economy and dashing "any hopes that the Chinese economy would somehow come to the rescue with respect to risk appetite," said Michael Hewson of CMC Markets.
nester [7:44]: WASHINGTON (AP) -- More than 1.3 million laid-off workers won't get their unemployment benefits reinstated before Congress goes on a weeklong vacation for Independence Day.
An additional 200,000 people who have been without a job for at least six months stand to lose their benefits each week, unless Congress acts.
For the third time in as many weeks, Republicans in the Senate successfully filibustered a bill Wednesday night to continue providing unemployment checks to people who been laid off for long stretches. The House is slated to vote on a similar measure Thursday, though the Senate's action renders the vote a futile gesture as Congress prepares to depart Washington for its holiday recess.
A little more than 1.3 million people have already lost benefits since the last extension ran out at the end of May.
kotarah [7:46]:
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EmailPrint..Stephen Bernard, AP Business Writer, On Thursday July 1, 2010, 7:10 am
NEW YORK (AP) -- Investors are approaching the first day of third-quarter tentatively after stocks posted sharp declines during the previous three-month period.
Stock futures traded in a narrow range Thursday as investors worry the economy is slowing down again, and they are anxious heading into Friday's key jobs report. Before the monthly employment report, traders will get a flood of economic data to examine Thursday that will likely continue to paint a mixed picture about the pace of recovery.
A report is expected to show initial claims for jobless benefits dipped last week, but not enough to signal employers are rapidly hiring new workers. Economists polled by Thomson Reuters forecast claims fell to 452,000 last week from 457,000 a week earlier. Initial claims have remained stuck near 450,000 throughout the year, adding to worries that unemployment will remain high for the near future.
Two reports on the housing market are also expected to show that sector remains weak, particularly now that a home buyer tax credit has expired.
Economists predict construction spending fell by 0.8 percent in May, the first month after the tax credit ended. A separate reading is expected to show pending home sales fell sharply in May as well. The National Association of Realtors' pending home sales index likely fell to 98.4 in May from 110.9 in April.
The one area of the economy that has shown signs of life throughout the year is manufacturing. The Institute for Supply Management's manufacturing index likely dipped in June, but still signaled growth in the sector. Economists expect the index fell to 59 from 59.7 in May. Any reading above 50 signals expansion.
kotarah [7:47]: World stocks down on Europe, China growth doubts-
kotarah [7:47]: MADRID, Spain (AP) -- Spain succesfully raised euro3.5 billion ($4.3 billion) Thursday in an oversubscribed bond sale, a reassuring sign for markets a day after ratings agency Moody's warned it may join others in downgrading the country's debt.
The average interest rate for the five-year bonds was 3.65 percent, up from 3.53 percent at the last such auction in May, and the sale was 1.7 times oversubscribed, the Treasury Department said. The government had hoped to sell between euro2.5 and euro3.5 billion of the bonds.
nester [7:50]: NEW YORK (AP) -- Investors are approaching the first day of third-quarter tentatively after stocks posted sharp declines during the previous three-month period.
Stock futures traded in a narrow range Thursday as investors worry the economy is slowing down again, and they are anxious heading into Friday's key jobs report. Before the monthly employment report, traders will get a flood of economic data to examine Thursday that will likely continue to paint a mixed picture about the pace of recovery.
A report is expected to show initial claims for jobless benefits dipped last week, but not enough to signal employers are rapidly hiring new workers. Economists polled by Thomson Reuters forecast claims fell to 452,000 last week from 457,000 a week earlier. Initial claims have remained stuck near 450,000 throughout the year, adding to worries that unemployment will remain high for the near future.
Two reports on the housing market are also expected to show that sector remains weak, particularly now that a home buyer tax credit has expired.
nester [7:51]: SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trading on Thursday are Constellation Brands Inc., Smith & Wesson Holdings Corp., and Yahoo Inc.
karenbcz [7:52]: Nester: Did you see the message I left on you on the board last nite?
nester [7:53]: karen - no i did not.... will go back and look
karenbcz [7:53]: around 10PM
karenbcz [7:53]: maybe 945PM
nester [7:55]: wouldn't that have been a good pick...
kotarah [8:00]: siga
nester [8:06]: futures are at -671
Andrew [8:07]: I'm hoping they go up a ton after the data in 25 minutes.
nester [8:07]: i haven't verified this yet, but i thought i would share anyway. the EuropeanCentralBank has a rollover problem coming, in that they need to roll a significant amount of term liquidity deposits Thursday.
If those rolls fail, the markets will crash. Both credit and equity.
If the ECB tries to machine it's way around a failure the results could be cataclysmic.
Andrew [8:07]: So there can be some better entries to get short today.
karenbcz [8:08]: i'm showing futures -11. What # are u looking at?
karenbcz [8:08]: -671? what on earth r u looking at?
nester [8:08]: SV. look at the Emini Futures
Sandman [8:19]: morning nester. What is the symbol for Emini Futures?
Andrew [8:19]: It depends on your broker Sandman. Most charge extra for futures quotes.
nester [8:20]: morning Sandman
Andrew [8:20]: http://www.bloomberg.com/markets/stocks/futures/
nester [8:21]: i just use SV for this. don't trade them. it is right under the A/D Ratio
Andrew [8:22]: Are you still short GNW nester?
Sandman [8:22]: Thank you
nester [8:24]: yes, still short that, MAS, ERX and SFD
nester [8:26]: still betting on the market to push below 9600
nester [8:28]: Andrew - good call on the -100 yesterday... i didn't think we would fall that much
jim [8:30]: no more predictions for me I thought +5
kotarah [8:30]: Initial Claims 472K vs 458K Briefing.com consensus, prior revised to 459K from 457K
Andrew [8:31]: Jobs data worse than expected on all fronts it looks like.
kotarah [8:31]: More of the same
Andrew [8:32]: At 10:00am it will get really crazy: ISM Manufacturing data, Construction spending data, Pending Home Sales data, and treasury secretary will begin speaking.
kotarah [8:32]: Most if not all will be down
nester [8:34]: SV futures now show -1121
nester [8:34]: going to be a nice gap down it looks like
LEECO [8:34]: good morning nester.Andrew,Sandman,kotarah,jim
nester [8:34]: morning Sir
kotarah [8:34]: morning Leeco
jim [8:35]: Morning Leeco
nester [8:35]: Karen - you still in FAZ ???
Andrew [8:36]: It looks like I'll have to look for some longs this morning, since the gap down has gotten so large.
Andrew [8:36]: Good morning Leeco
kotarah [8:37]: S&P futures vs fair value: -5.80. Nasdaq futures vs fair value: -9.00.
nester [8:37]: yeah, thinkin bout dumping my shorts after the opening then buying back in on a pullback
Andrew [8:37]: More stops might be taken out near the open though.
nester [8:38]: true... may just place trailing stops. probably better anyway
jim [8:39]: BP is running they must be close to plugging the well
Andrew [8:40]: I think the risk-reward is still good to attempt shorting it in the 29.00-29.30 range.
nester [8:40]: someone was talkin yesterday about nukin that like the russians did
Andrew [8:40]: Oh wow it's almost 30.00 already
kotarah [8:40]: I guess the Pension fund buying didn't work and the S&P did support levels are continuing down and will probably go more. I have no idea why GAR made the staement about S&P has worked for me just my thoughts
nester [8:41]: FAZ up nicely
jim [8:41]: dollar is weak this morning may suggest an up market
Andrew [8:42]: There was a lot of buying yesterday in the last 15 minutes or so, but I was about 15 minutes too early trying to catch the bounce.
kotarah [8:43]: PETD finished well for me
DJalecC [8:44]: morning all :-)
rw [8:45]: morning
madriver [8:46]: morning
jim [8:48]: Morning RW, MAD
madriver [8:48]: I think REXX is going to get taken out by another gas/oil company
madriver [8:48]: morning jim
madriver [8:49]: looking forward to holiday weekend!!!!
nester [8:51]: is it just me or does this morning feel funny? kinda a flat opening ?
rw [8:51]: Morning Jim
Treacherous_Cretin [8:52]: nice selloff yesterday
madriver [8:52]: TZA and FAZ have closed abit...not gapping up like earlier..it appears
Andrew [8:52]: I agree that it feels funny. There could be a lot of whipsaws near 10:00am as well so could be a tricky early morning.
Treacherous_Cretin [8:53]: usually markets go counter to the trend before a market holiday
madriver [8:53]: nester...i think light trading because of holiday...tomorrow will be even worse IMO
jim [8:53]: anyone watching BP
Andrew [8:53]: Is the market open on Monday?
jim [8:53]: closed on Monday
Andrew [8:53]: I'm probably going to look for good entry to short BP on the gap up.
madriver [8:53]: andrew...no I don't believe so
Treacherous_Cretin [8:53]: would not be surprised to see it bounce or levitate some today or tomorrow before the baby seal scenario resumes next week
Treacherous_Cretin [8:53]: closed Monday
madriver [8:54]: tC....are you saying up then??
Treacherous_Cretin [8:54]: maybe tomorrow
Treacherous_Cretin [8:54]: possibly some today
madriver [8:54]: ok.thx
Treacherous_Cretin [8:55]: problem is that the data so conradict even the most logical bullish sentiments there is no real reason for up
Treacherous_Cretin [8:55]: If volume is good margin calls will push us lower.....not to mention the ongoing fund redemptions
Treacherous_Cretin [8:56]: keep helmets handy
Andrew [8:56]: Yesterday wound up being one of my best days of the year even though I was taking profits relatively quickly (1% to 2% mostly). Didn't have many stop outs.
Treacherous_Cretin [8:56]: bye people
madriver [8:57]: bye tc
Treacherous_Cretin [8:57]: be well
jimmypop7545 [8:58]: s/p goes bullish as of july 5 as per the cots report. this week was in cash or sell mode
madriver [8:58]: andrew...out of curiousity what did you do % wise on your account yesterday?
Andrew [8:59]: About 10%
madriver [9:00]: nice job.....
madriver [9:00]: thats great
Andrew [9:00]: 4th best day ever
madriver [9:01]: that's awesome....
jim [9:01]: rumors oil leak is capped
madriver [9:01]: really
Andrew [9:02]: Ahh, that would explain the continued buying into the mid 30.00s. The closer to 31.00 it gets the less risk I think it is to try a short.
jim [9:02]: My guess is something is going on Reuters just reported rumors amounst traders
jim [9:05]: out THC from yesterday 4.44 +1.5%
LEECO [9:05]: Morning T_C,jimmy,macd,
rw [9:06]: moorning Leeco
ravinmufid [13:06]: FTSE-100 was 100 point down this morning now 60.
jim [9:07]: BP has denounced the rumors
kotarah [9:07]: Asian MarketsNikkei...9191.60...-191.00...-2.00%. Hang Seng...Holiday.........
09:06 European MarketsFTSE...4872.00...-44.90...-0.90%. DAX...5927.27...-38.20...-0.60%.
madriver [9:07]: http://www.cnn.com/video/flashLive/live.html?stream=stream3&hpt=T2
madriver [9:07]: this doesn't look plugged to me
kotarah [9:08]: S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +0.30.Stock futures have made their way to the neutral line as the euro extends its rally to now sport a 1.3% gain against the dollar. Its strength comes in the wake of the decision by European Central Bank to lend billions in six-day notes to ease today’s expiration of 12-month notes and Spain successfully auctioned off a few billion euros worth of five-year notes.
jim [9:08]: the relief well is within a few feet of the leaker may be getting close
rw [9:09]: 15 feet to go on the plug - bp very close
rw [9:09]: Once well plugged BP should go up.
madriver [9:10]: that would be great news for the gulf that's for sure
jim [9:11]: releif well and couple of hurricanes and BP may get lucky
Andrew [9:12]: I thought the relief well wasn't supposed to help until August?
Sandman [9:12]: There's a car on fire on interstate 91. It's right behind my house. Boy does it stink.
rw [9:13]: last night news bulletin on cnn said they reported the few feet from the well and showed a mock up picture of where bp was ---------
Andrew [9:14]: The pre-market action is suggesting a 'buy the bad news' type of morning perhaps.
madriver [9:14]: they are moving faster....managing expectations for once IMO
Andrew [9:15]: There are so many places where there could be a ton of sellers waiting though, I think I'm going to be in and out of FAZ a lot today.
kotarah [9:17]: S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +1.30.
Andrew [9:18]: What does fair value mean?
jim [9:19]: flat to slightly down open
rko [9:19]: fair value: equilibrium price for futures contracts
kotarah [9:20]: Source: CNBC.com
FAIR VALUE Is
"Fair value" refers to the "proper" relationship between the futures and the cash. Through a complex formula using current short term interest rates and the amount of time left until the futures contract expires, one can determine what the spread between the futures and the cash "should" be. The actual formula for determining fair value is reproduced at the end of this paper.
When the spread is at fair value, where it "should" be, there is no theoretical advantage to owning the futures instead of the cash, or vice versa. To professional investors and the big institutions, when the spread is at fair value, it makes no economic difference to them whether they own the futures or the actual stocks that make up the S&P 500. Their buy and sell decisions will be driven by other factors. But, when the spread drops below fair value or moves above it by a large enough margin, then one of the choices (stocks or futures) will become more attractive than the other, and they will sell one and buy the other.
The spread or premium changes throughout the day because, as I said earlier, the futures contract and the actual S&P 500 trade independently of each other. Supply and demand in the futures pit in Chicago determines the price of the futures contract. Supply and demand for ALL 500 stocks in the S&P index come together to collectively determine the price of the cash S&P 500. Sometimes, these forces go in opposite directions, or in the same direction, but at different speeds. When that happens, the spread changes.
FAIR VALUE SCREEN
Each day on Business Center (6:30 PM Eastern/3:30 PM Pacific & 2AM Eastern/11PM Pacific), we do the math for you, showing you the difference between the "spread" and the next day’s Fair Value and indicating whether futures will be a positive or negative influence, if the futures hold their position.
At other times on CNBC, we just show you the Fair Value screen.
The Fair Value Screen shown on CNBC reflects the reality of a mathematical relationship between the futures and the S&P 500 index, which is referred to as "the cash." This subject is as easy as you want to make it, or as complex as you can imagine. It all depends on how deeply you want to understand the process. For most people it is not necessary to know much more than what is in this explanation. At the end, I will give you some references for further information.
jim [9:21]: AMED watched on gap down
LEECO [9:21]: RW-WHAT IS THE DATE OF THE WEBINAR
Andrew [9:21]: thanks
kotarah [9:21]: Does this explain it Andrew??
jim [9:21]: Webinar 7/6
LEECO [9:22]: Thanx
jim [9:22]: 8 pm eastern
jim [9:22]: I have signed up
jim [9:22]: Lets make sure it is a sell out to support GAR
lindo [9:23]: Be bad if it wasn't, but I hope he doesn't get too basic with options.
lindo [9:23]: I have signed up too
jim [9:23]: he may but lets support him anyway
madriver [9:24]: I'm sure you would learn something you didn't know before....
rw [9:24]: JULY 6 leeco
lindo [9:25]: There's always stuff to learn.
ravinmufid [13:25]: Hi
rw [9:26]: WEBINAR JULY 6 Be sure and sign up.........Gar will host it. several hours long
jim [9:26]: good afternoon Ravin
jim [9:27]: agenda says 90 minutes
madriver [9:27]: with questions he might hit 2 hours....benefit of the doubt
rw [9:28]: middle of next month on bp well per talking heads on cnn
madriver [9:29]: take a month in half to go 15 feet.....hmmmm
karenbcz [9:29]: GUY - are you still here?
aladin [9:29]: Good morning. Too bad I have a full time job. does anyone know if i can access the content og the webiner after hours?. Thanks
madriver [9:30]: yes you will be able to replay as I understand
aladin [9:30]: not too bad I have a full time job, is that i will not be able to join :-)
Andrew [9:30]: I think you will be able to download the webinar and then have the opportunity to go to the next one on that topic and you can ask questions then.
aladin [9:31]: Good. Thanks Andrew
jim [9:32]: L ICO 3.85
lindo [9:32]: Look at volume
Andrew [9:32]: long FAS 19.07
Andrew [9:33]: added to FAS 19.14
Andrew [9:33]: added to FAS 19.21
Andrew [9:35]: Even if we go down a lot today I wonder if they will try and force some short covering first.
rw [9:36]: madriver are you here
madriver [9:36]: y
Andrew [9:36]: added to FAS 19.20
rw [9:36]: I hope you make a lot of money and have a GREAT day
nester [9:37]: Andrew - think you are right. going to drive it up a bit to panic out those short then the market will fall
madriver [9:37]: thank you rw....i hope you do too!!!
rw [9:37]: Thanks//
kotarah [9:37]: BP BP trading up 3.5%, moving back above the 30.00 level earlier this morning (29.78 +0.90)There doesn't appear to be any news accountable for the move higher this morning. CNBC just said despite rumors from traders, BP has said the well is still flowing, and that BP is on track to have the leak stopped by the middle of next month. In addition, Hurricane Alex has been downgraded to a storm, lessening its threat to the oil spill cleanup efforts.
rw [9:38]: Kotarah: I really appeciate your detailed news items and thoughts
Andrew [9:38]: out 1/4th FAS +1.1%
majour [9:39]: SNDK 42.5
Andrew [9:40]: out rest of FAS +1%
Andrew [9:40]: long FAZ 17.22
Andrew [9:41]: tripled up on FAZ 17.25
Andrew [9:41]: added to FAZ 17.27
rko [9:42]: Euro just broke above 1.24
lindo [9:42]: up day?
Andrew [9:43]: added to FAZ 17.14
rko [9:43]: I don't think so
Andrew [9:44]: out half FAZ tiny loss
ortrade [9:45]: ABB 200@17.75p
Andrew [9:45]: added back to FAZ 17.23
rko [9:45]: Euro is going up quickly, but very low volume.
ortrade [9:46]: PWER 200s@6.93p
Andrew [9:46]: added to FAZ 17.28
nester [9:47]: RGC short 13.02
ortrade [9:48]: Exit ABB -14p
Andrew [9:49]: I missed BP I was waiting to get short until the 30.00s.
jim [9:49]: L THC 4.35
rw [9:49]: MO long soon
Andrew [9:50]: out 1/4th FAZ +1.1%
ortrade [9:51]: ABB 200@17.71p
nester [9:51]: FAZ long 17.37
ortrade [9:53]: FIRE 200@18.83p
Andrew [9:55]: out another 1/4th FAZ +2%
majour [9:56]: out SNDK 42.05 -1%
Andrew [9:57]: out another 1/4th FAZ +2.2%
majour [9:57]: short MDRX 15.99
Andrew [9:57]: I don't want to be in too much stuff before the 10:00am data
LEECO [9:58]: can't see posts
Andrew [10:00]: added to FAZ 17.69
Andrew [10:00]: added to FAZ 17.74
Andrew [10:00]: added to FAZ 17.77
123 [10:00]: 5 spy 109 strike at 6.50 ...going to watch charts
ortrade [10:01]: Enetered and exited LXK fast as long -50p
Andrew [10:02]: out 1/4th FAZ +2%
ortrade [10:02]: Exit FIRE -66p
ortrade [10:03]: Exit ABB -22p
Andrew [10:03]: out another 1/4th FAZ +2.4%
DJalecC [10:03]: L TZA 8.36 :-)
123 [10:04]: puts on spy way up 7.11 allready....got buy signal on 5 min chart
nester [10:04]: FAZ hitting the $18 resistance
madriver [10:05]: seems weird movement in tape
Andrew [10:05]: The financials are below right now.
madriver [10:05]: 5-6 point moves
Andrew [10:05]: The XLF low before was 13.70 and is now at 13.65.
Andrew [10:06]: Lots of algorithms go contra near the 10:00am bar
Andrew [10:06]: It's sometimes the high or the low of the day.
madriver [10:06]: you could see something happening
rko [10:06]: FAZ quadruple top?
madriver [10:06]: must of been trading monster volume
majour [10:07]: covered MDRX +0.5%
Andrew [10:07]: I'd like to add some more FAZ in the 17.60s.
madriver [10:07]: still kinda happening to some degree
ortrade [10:08]: LXK 200@32.69p
Andrew [10:09]: added back to FAZ 17.88
DJalecC [10:10]: OUT TZA @ 8.51 +1.79%
Andrew [10:10]: The ISM data was horrible.
rko [10:11]: All the data is horrible. Based on all available logic, now we rally.
Andrew [10:11]: added to FAZ 17.97
Andrew [10:11]: added to FAZ 18.00
rw [10:12]: uvv long U V V they sell and process tobacco leaff
madriver [10:12]: here comes a head fake...
Andrew [10:13]: That's what I'm afraid of but it might be harder for there to be a head fake if there are so many aggressive sellers out there willing to undercut each other.
nester [10:14]: love this day...
lindo [10:14]: faz at 18.,25
Andrew [10:14]: out 1/5th FAZ +2.3%
Andrew [10:15]: We're now right near where we bounced in the beginning of October.
123 [10:16]: going to make another killing today
Andrew [10:16]: out another 1/5th FAZ +2.6%
nester [10:16]: ERX puts are now 3.90
ortrade [10:16]: market seems to be sliding in limbo today..
Andrew [10:17]: out another 1/5th FAZ +2.7%
ortrade [10:18]: Exit LXK -80p
Andrew [10:18]: out another 1/5th FAZ +3.1%
Andrew [10:19]: out rest of FAZ +3.4%
Andrew [10:19]: long FAS 18.02
Andrew [10:19]: tripled u on FAS 18.07
Andrew [10:20]: added to FAS 18.08
Andrew [10:23]: BP back on highs
Andrew [10:24]: added to FAS 18.13
nester [10:24]: 123 - are you clear right now?
madriver [10:25]: off the bottom trade....kerx 3.06
madriver [10:25]: right now it's on the move north....
kotarah [10:26]: Bought 10,000 KERX
madriver [10:27]: kerx is doing me right at the moment
kotarah [10:27]: @ $3.24
nester [10:27]: out FAZ +5%
ortrade [10:28]: NOVL 600@5.75p
Andrew [10:28]: The financials are struggling here to bounce much.
kotarah [10:28]: hang on Mad it will continue to do you right
Andrew [10:29]: added to FAS 18.14
ortrade [10:31]: In these markets there is no correlation to news whatsoever..
Andrew [10:31]: out FAS tiny loss
Andrew [10:32]: back in FAS 17.94
Andrew [10:32]: added to FAS 17.88
ortrade [10:33]: FAZ 100@18.54p
nester [10:33]: Karen - you still in FAZ?
Andrew [10:34]: added to FAS 17.94
karenbcz [10:34]: Yep!! $$$$$$$$
nester [10:34]: good for you!
karenbcz [10:34]: Got OUT this a.m., and re-entered 10 minutes later. :>)
karenbcz [10:35]: Out @ $17.34; then back in @ $17.47.
karenbcz [10:36]: EZ money, Nester. Market's EZ to trade ... when you KNOW the direction. LOL!
karenbcz [10:36]: Wait till tomorrow ... I'm gonna make a KILLING.
nester [10:36]: yup... we finally have a defined direction
karenbcz [10:36]: We all are!
Andrew [10:37]: added to FAS 17.71
ortrade [10:37]: Exit NOVL -18p
iswing64 [10:37]: S F @ 10.09
kotarah [10:37]: Still holding MAD?
Andrew [10:38]: added to FAS 17.65
Andrew [10:38]: added to FAS 17.70
123 [10:39]: 7.63 bids on my 6.50 entry spy puts options rock
ortrade [10:39]: This is the hedge hog solution. all it knows is to dig lower and that what the market is doing. No matter what stock you are in or what fine class structure you used to figure out its direction..
Andrew [10:40]: out FAS -1%
Andrew [10:41]: back in FAS 17.52
Andrew [10:41]: added to FAS 17.58 (triple position)
rw [10:41]: i was buying bucy while ago accidentally entered an order for kerx at 46.88 thank god it did not take it....
rw [10:42]: order said the limit price was to far away from market price for stocks under ten dollars
kotarah [10:42]: RW wac those buttons
rw [10:42]: Very scary Kotarah.
kotarah [10:43]: KERX will rebounb good entry level here
Andrew [10:43]: added to FAS 17.58 (double position)
ortrade [10:43]: Market cut through the 2106.54 of 2/5/2010 on daily for Nasdaq. That the most important level I think.. its where all thought market will crash but it shoot up then.. It is a strong fear level and institutions may exit frantically position triggering a much larger selloff..
kotarah [10:44]: next week RW up big
nester [10:45]: out ERX puts +38%
lindo [10:45]: Nice Mr. Nester
madriver [10:46]: kotarah.....yeap hitting alot of resistance now!!!
ortrade [10:46]: Exit FAZ +160p
ortrade [10:46]: Exit PWER +64p
nester [10:46]: thx lindo... love these kind of markets
kotarah [10:46]: Bear Raid Mad Presentation being made as we speak in Spain
ortrade [10:47]: ABB 200@17.38p
kotarah [10:47]: Look at Sqnm as well Mad
ortrade [10:47]: Fire 200@18.31p
knight [10:47]: faz short 18,80
lindo [10:48]: bp at 30.15
Andrew [10:48]: out half FAS +1.2%
madriver [10:48]: kotarah...out now....3.25
kotarah [10:48]: Still haning
madriver [10:49]: probably got out too early
kotarah [10:49]: well we will see market also dictates
Andrew [10:49]: out 1/3rd remaining FAS +1.5%
knight [10:49]: add seed 6,9
madriver [10:50]: put I was up like 6%
madriver [10:50]: but
ortrade [10:50]: LXK 200@31.92p
Andrew [10:50]: out rest of FAS +1.3%
knight [10:50]: tza short 8,8
Andrew [10:50]: long FAZ 18.65
kotarah [10:50]: Bounced off $3.03 to me it's a gift @ $3.24
nester [10:50]: out RGC short +1.5%
Andrew [10:51]: tripled up on FAZ 18.68
madriver [10:51]: I'm looking at it now.....
kotarah [10:52]: sitting on 10 dayma 5 min chart
knight [10:52]: rdn 6,63
madriver [10:53]: sure is
madriver [10:53]: boy i like the look of that chart on 5min....could be wrong
kotarah [10:54]: Took out some options as well AUG $5.00 call
Andrew [10:55]: added to FAZ 18.70 (double position)
ortrade [10:55]: What bothers me is that when thinking about it market should almost never rally but should go rather sideways and stocks should rally or break out based on news and technicals. The fact that all stocks are swept one way or another indicates a very high level of manipulation and fine class deletion. It is like an artist spend years to make an intricate painting and uneducated bully cuts it with a scissor and beats the artist and enjoys the process of destroying that which he could never achieve..
kotarah [10:55]: just continue to watch it youll see
nester [10:56]: short SID 14.46
madriver [10:56]: i have it up now....I should of held i think but I got a chunk of the move
kotarah [10:57]: market direction is not helping but it dosen't belong here
madriver [10:58]: if the market would move up .....this could be a nice
Andrew [10:58]: added to FAZ 18.74
ortrade [10:58]: now that market tempted lost of shorts the way to feed the market makers is to have it sideways from now on..
madriver [10:58]: chart is a little iffy now if you ask me
kotarah [10:59]: Once the S&P went below 1030 it's up for grabs
ravinmufid [14:59]: FV = S [1 + (I - D)]
*
Where "S" is the S&P 500 Stock Index. The ticker symbol is SPX and/or INX on most good data feeds.
*
Where "I" is the amount of Interest paid to your banker or broker to borrow the money to buy all of the stocks in the S&P 500 Index. The interest is calculated based on a percentage lending rate (R) from the current date (today) until the date that the S&P Futures Contract expires in March, June, September, or December.
*
Where "D" is the amount of Dividends paid to you from the companies that you own in the S&P 500 Index that pay a dividend. The dividends are paid to you based on the record dates for any stock in the Index that is announced between the current date (today) and until the date that the S&P Futures Contract expires in March, June, September, or December. This dividend income is expressed as a percentage rate too
ortrade [11:00]: the question is if on faz 18.80 is the mid of the sideways or the top of it and what is the range..
ortrade [11:00]: till now -70p for the day not including unrealized positions.
Andrew [11:02]: out 1/3rd FAZ +1.2%
ortrade [11:02]: Exit ABB -20p
knight [11:03]: add tza short 8,95
123 [11:03]: out spy 109 strike puts $8.00 from $6.50 entry + $750
Andrew [11:03]: added back to FAZ 18.82
knight [11:04]: add faz short 18,9
knight [11:04]: fas 17,58
madriver [11:06]: kotarah....are you going to hold that for days??
nester [11:06]: good job 123
madriver [11:06]: 123..nice
ortrade [11:07]: FAZ 1000@18.81p
madriver [11:07]: 123 how many did you buy?
123 [11:07]: 5 contracts
kotarah [11:07]: I am MAd I will hold
ortrade [11:07]: rational financials are the weakest sector.. even if market goes sidewayts faz will go up in channel..
madriver [11:07]: wow.....that was super nice
nester [11:08]: short RGC 12.81
123 [11:08]: still looks like a lot more downside....5 min moving averages still all pointind down
Andrew [11:08]: There seem to be buyers in this area.
kotarah [11:09]: Bought Sqnm 2500 @ $5.52
nester [11:10]: got out of ERX too soon...
knight [11:10]: add faz short 18.95
knight [11:11]: add fas 17,45
123 [11:12]: my best week ever and all on option plays....can't wait for Gars webcast. made over $4000. on options since I bought Gars option book. Better reserve your spot on Gars webcast.
madriver [11:12]: kotarah....looking better man!
madriver [11:12]: 123...strictly on GARS advice or did you have alot of experience
kotarah [11:12]: Watch and see it will in my oppinion take off
knight [11:13]: what a nice volatile day for trading
madriver [11:13]: it's looking really good now....if there is a turn in the market that would be even better
kotarah [11:13]: yes Mr knight
ortrade [11:13]: a trader who found a job is candlestick free.
knight [11:13]: in a yoyo mode
kotarah [11:14]: That was your predicition my friend
knight [11:14]: the battle between bears and bull is on
Andrew [11:14]: added to FAZ 18.85
123 [11:14]: I did not have a clue about options before I read his book. I bought other books but still did not have a clue on options. Gar is great at explaining. I use my tech experience for entrys and trade options like they were stocks.
madriver [11:15]: 123...nice....I did sign up for Gars webcast
kotarah [11:15]: FOR YOU MAD...KERX Aug 5 calls are seeing interest with weakness in the underlying stock. The KERX Aug 5 calls have traded 1580 contracts vs. open int of 420, pushing implied vol up around 19 points to ~124% -- partner AEZS filed
ortrade [11:15]: Exit FAZ -22p
123 [11:16]: I did too.....I will buy anything Gar puts out he is very smart.
knight [11:16]: i think the market will turn green
ortrade [11:16]: ABB 500@17.32p
kotarah [11:17]: That was your prediction 2 days ago
ortrade [11:17]: NOVL 600@5.77p
knight [11:17]: let see -- seems to have no more shorty
madriver [11:17]: thx kotarah.
knight [11:19]: and i did 75 K with peix kotorah - not bad
madriver [11:19]: knight....I have to say you are definately a bullish trader.....come hell or high water
knight [11:20]: and still making easy $$$ with FAS and FAZ
123 [11:20]: lol madriver...got Knight blocked but know what he is saying....
madriver [11:21]: 123...pretty predictable....to each their own I suppose.
knight [11:21]: i know ,he is jealous
madriver [11:21]: who is jealous?
madriver [11:21]: LOL
rko [11:22]: There is not the bear side or the bull side... only the winning side and losing side.
123 [11:23]: I watch him post buying all the way down and then claiming profits when a small spike occurs....could never figure out how he would profit.
Andrew [11:23]: I've been bullish on bears for a couple of months.
rko [11:23]: lol
madriver [11:23]: rko...i know what you mean.....however knight seems to always be bullish...seems he would be losing about 40% of time but apparently not
rko [11:23]: I guess he could be playing both sides like me
madriver [11:24]: I think he says he is bullish but yeah playing both sides
madriver [11:24]: right
Andrew [11:24]: Do you add shares in even lots like I do Knight, or do you add even more shares the lower it goes?
ortrade [11:24]: universe is full of dark matter none can see.. it is all from uposted loses of the Dr...
rko [11:24]: lol
ortrade [11:24]: lol..
madriver [11:24]: LOL....word from the wise
rko [11:25]: I don't know, I made a bundle on PEIX the past few days
madriver [11:25]: rko...right place...right time
madriver [11:25]: alot of people got caught in PEIX....feel bad for them
nester [11:25]: short FAZ 18.64
knight [11:25]: like me easy to understand but some here difficulty to understand that fact....
123 [11:26]: price moved above 10 moving average on 5 min spy chart....a sign we are bottoming short term at least on S&P 500
knight [11:26]: but anyway don't have time to explain the cycle of life....
madriver [11:26]: I understand you knight
madriver [11:27]: I think I do anyway
kotarah [11:27]: No you dont MAD
ortrade [11:27]: FAZ is in range now as I mentioned earlier.. not clear what statistical range is.. I think nester may be going for the lower Boilinger band on 5min..
madriver [11:27]: kotarah....lol..probably don't!!!
rw [11:28]: BUCY sold 47.01 average was 46,85
Andrew [11:28]: out 1/3rd FAZ -1%
kotarah [11:28]: Mr knight is in a leauge of his own
nester [11:28]: FAZ going to drop to 18.10 area
knight [11:28]: you see now , the momentum look to go higher now
rko [11:28]: I appreciate knight
madriver [11:28]: I'm starting to rko
rko [11:28]: Maybe he is the invisible hand?
kotarah [11:28]: Just show me GREEN
ortrade [11:28]: knight, good call on FAZ reversal..
Andrew [11:28]: added back to FAZ 18.49
knight [11:29]: and i said that when the market was going down down down --- no need more proof
nester [11:29]: out GNW short +5%
nester [11:29]: out RGC short -0.8%
madriver [11:29]: rko....i would not go that far!!!
rko [11:29]: lol
rw [11:29]: I appreciate MR. Knight also.........I am amazed that he stays here -
Andrew [11:30]: added to FAZ 18.54
rko [11:30]: he's like a Timex
kotarah [11:30]: You stated 2 days ago the market would be positive today or there abouts
kotarah [11:30]: Solid lift off the lows in recent action for stock indices -- Dow -102, S&P -13, Nasdaq -25
knight [11:30]: it's only some bullshitter , not all of you
Andrew [11:30]: added to FAZ 18.57 (double position)
nester [11:31]: out SFD puts +85%
ortrade [11:31]: Knight is right when he is right.. when he is not who cares...
rko [11:31]: precisely
knight [11:31]: the same for me , who care about ortrade comments
lindo [11:32]: that's really a compliment Dr. Knight
iswing64 [11:32]: Great job nester!!
kotarah [11:32]: Everyone is entitled to there oppinions knight
nester [11:32]: out SID -0.6%
ortrade [11:32]: I think we should all elevate Dr.. to Prof. Knight..
knight [11:32]: agree , but not with personnal attack
kotarah [11:32]: You still out Mad
rw [11:33]: GAR has said - NO personal Attacks.....NONE.
kotarah [11:33]: who made the personal attack ??
knight [11:33]: we all do mistake , but 90 % of my pick are right
rw [11:33]: Nothing directed at you Kotarah
nester [11:34]: thx swing. days like these are easy
kotarah [11:34]: oh ok RW
rw [11:34]: I appreciate you Kotarah.......
knight [11:34]: not you kotorak, ortrade, mad driver , nester
kotarah [11:34]: thanks RW
rko [11:34]: lol
ortrade [11:34]: lol..
rko [11:35]: you guys are hilarious
kotarah [11:35]: As long as Im out of the loop
123 [11:35]: good work nester
rw [11:35]: Going to clean up after my BUCY trade....
nester [11:35]: 123 - what is the next play?
knight [11:35]: ortrade, mad driver , nester are doing personnal attack
rw [11:35]: You all look at the BUCY chart I was in many times but last time at 47.15 then averaged down......
rw [11:36]: (hitting myfingers with stapler after the BUCY nightmare)
madriver [11:36]: cry me a river!!!!
nester [11:36]: knight - what are you talkin about? haven't made a comment at you
ortrade [11:36]: As a sideline.. some guy in jail came up with statistics tossing coin and counting success from number of tosses.. None would have taken him seriously if ignoring some coin sides..
rw [11:36]: tried to buy me KERX at over forty dollars also---what a morning.....
lindo [11:36]: fingers are needed for trade rw
knight [11:36]: all my picks from today are doing perfect again today!!!!
123 [11:36]: I think I am done for today unless market does something drastic....probably will keep playing spy when opertunity presents itself
madriver [11:37]: what a fricken baby!!! Nester has said nothing lately
rko [11:37]: MM crew gaining some traction. Let's see if they can get the SPX past 1020
Andrew [11:37]: added to FAZ 18.37 (double position)
madriver [11:37]: mellow out knight....i like you and have not said anything personally lately
knight [11:37]: FAZ, TZA short FAS&RDN Up
lindo [11:37]: thx knight
nester [11:38]: 123 - just have the FAZ short going. think i will stay clear after that plays out
knight [11:38]: not bad - you see again i am right
123 [11:38]: spy price is over 20 ma on 5 min....strengthing bottom short term
knight [11:38]: whatever ortrade say !
rko [11:38]: an extraordinary league of invisible gentlemen
madriver [11:38]: one thing....this chat is civil and the people are very nice compared to other chats
Andrew [11:38]: short RDN 6.86
nester [11:39]: you buying the 105 puts?
123 [11:39]: market going up should be good for faz but I wont touch financials again
Andrew [11:39]: short PCX 11.18
madriver [11:39]: nester is a gentleman so watch what you say knight or I might have to kick your PEIX.lol
madriver [11:40]: i'm kidding ...don't take it seriously
rko [11:40]: as soon as Gar puts video on this chat, then we'll be in trouble
123 [11:40]: I am clear nester but I keep buying 109 puts.....way in the money makes biggest gains even though they seem more expensive they are cheaper
Andrew [11:40]: short LCC 8.72
nester [11:40]: have to look into that. been buying right at or just in the money
Andrew [11:41]: added to RDN short 6.92
rko [11:41]: Deep in the money is better for short-term plays
ortrade [11:41]: Exit LXK +70p
rko [11:41]: Way out of the money better for hedges
knight [11:41]: add peix .53
Andrew [11:41]: tripled up on PCX short 11.18
nester [11:41]: may be true. just not how i learned... think i may readjust that thought
Andrew [11:42]: tripled up on LCC short 8.69
kotarah [11:42]: still sitting on 10 day MA MAd
ortrade [11:42]: FAZ 1000@18.42p
rko [11:42]: Deep in the money, you don't have to worry about premium decay
123 [11:42]: the problem with right at money is market has to make a move away from that price before it does anything....way in the money moves on the smaller changes right away
Andrew [11:42]: added to RDN short 6.94
rko [11:42]: yes 123
nester [11:43]: makes sense...
nester [11:43]: i was taught to get them right at the money
knight [11:43]: take profit FAZ 18,95 to 18.4 part1
rko [11:43]: With deep in the money you have the same action as the stock... for way smaller investment.
123 [11:44]: and I knew nothing about options before Gars book..lol
madriver [11:44]: kotarah ...looks like a 10 30 cross. ADX cross
knight [11:44]: you all see now , the market want to go green like i said at 11
Andrew [11:44]: added to PCX short 11.25
nester [11:45]: rko - makes sense. i bought those ERX puts well in the money, at least for me...
rko [11:45]: Take 20%-30%-40% on a daytrade sometimes
123 [11:45]: My view on options before was why would anyone buy something that is guaranteed to go to zero in a month when they expire.
kotarah [11:45]: Looks good knight getting closer
Andrew [11:45]: added to RDN short 7.00
knight [11:46]: after 10 days of down - we should turn
rko [11:46]: yes, expiration is frightening
ortrade [11:46]: Exit FAZ -180p
Andrew [11:46]: added to FAZ 18.26 (double position)
rko [11:47]: it's all about risk vs. reward
nester [11:47]: rko - your stop on options are what? 25% ?
madriver [11:47]: chances are we're going to have a positive eventually
knight [11:47]: fbp .53 for a quick trade
rko [11:47]: eventually
Andrew [11:47]: added to LCC short 8.75
nester [11:48]: when it goes against you is my question
rko [11:48]: nester, no stop
Andrew [11:48]: added to PCX short 11.29, added to RDN short 7.01
rko [11:48]: I never take a loss on an option unless it expires
nester [11:48]: really?
knight [11:48]: 10 % only
rko [11:49]: I've let three options expire worthless
rko [11:49]: The other 280 were winners
nester [11:49]: i have too. won't do that anymore
123 [11:49]: I have no stops on my options nester....I have great confidence that my option will play out for the time period.....sometimes I go out a month or two to make sure....dont care about the premiems when I have solid technicals on a daily chart
nester [11:49]: i run a -25% then +50%
knight [11:50]: why always focus on the negative instead looking to make more profit....
rko [11:50]: I never use stops on anything
Andrew [11:50]: short SPWRA 12.20 (triple position)
nester [11:50]: don't focus on negative. you have to manage your account though
rko [11:50]: Instead of a stop, I will open an inverse position
ortrade [11:50]: FAZ 1000@18.34p
nester [11:51]: that's right. i remember you saying that
knight [11:51]: take profit FAz 18.94 to 18,3 part 2
kotarah [11:51]: Sector Summary: S&P Information Technology Index (-0.6%) lower today, in-line with losses in the broader market
123 [11:52]: I did that once rko...had some calls on spy....my first and only loss on options and it was small amount
knight [11:52]: take profit FAS 17,45 to 18,15 part 1 easy profit again
iswing64 [11:52]: Stochactics on faz 5 min may turn up soon
ortrade [11:53]: Exit ABB +20p, FIRE +30p
nester [11:53]: stopped out FAZ +1.2%
knight [11:53]: take easy profit RDN 6,5 to 7 part 1
rw [11:54]: Kotarah what about KERX please
nester [11:55]: done for the day... 7 of 9
madriver [11:55]: well done
ortrade [11:55]: PHG 200s@29.68p
rw [11:55]: good job nester
rw [11:56]: Kotorah-----getting impatient for answer on KERX
123 [11:56]: watch moving averages especially on 5 min chart for daytrades...for shorts 20ma should be below 50ma and 10 should be below all....and price should be below all....when price moves above 10 ma is sign of bottom....thats what got me out of spy puts at 8. top sold price was 8.08
Andrew [11:56]: out half FAZ tiny loss
rw [11:57]: thanks 123
knight [11:57]: Peix look a good buy opp .
nester [11:57]: 123 - that is how i do it also. my screeners are finding great picks lately
Andrew [11:57]: out LCC +1.6%
kotarah [11:57]: KERX still sitting on 10 day MA Bought 10,000 this morning @ $3.24 Bought Aug calls News is coming RW
ortrade [11:57]: ITW 200s@40.98p
rw [11:58]: thanks Kotarah---sorry for impatience - did not take meds today
kotarah [11:58]: no problem RW
knight [11:58]: which news kotorah
123 [11:59]: I like shorting what was the top sectors like energy and tech.....then found spy and it is even easier to trade than the sectors for me
kotarah [11:59]: Meeting on Perifisone in spain today Knight
knight [11:59]: any new med ??
kotarah [11:59]: This was a classic BEAR RAID today thats it
Andrew [12:00]: added back to FAZ 18.39
ortrade [12:00]: AMSC 200s@26.1p
Andrew [12:00]: added to FAZ 18.42
knight [12:00]: because i see a drop from 6 to 3 .....
123 [12:00]: nester you need stockcharts.com charts....the ma crap on ameritrade is no where near what stockcharts shows most of the time
kotarah [12:01]: In my oppinion it will go very soon all very positive data and KERX stopped trails in EUROPE because extremely positive KNIGHT
madriver [12:01]: kotarah.....man you nailed that one.....should of held out but I did okay
knight [12:02]: what kind of MED ?
kotarah [12:02]: you can still buy here its a gift
Andrew [12:02]: Do you think it is a short in the 3.40s?
kotarah [12:02]: Colon cancer Myeloma lung ect KNIGHT
Andrew [12:03]: added to PCX short 11.30
Andrew [12:03]: added to RDN short 7.00
kotarah [12:04]: you may think so Andrew however I think you may get caught It's my oppinion
nester [12:04]: May pending home sales tumble without tax credits
Pending homes sales tumble in May to lowest level on record after tax credits expire
knight [12:04]: Reuters) - Aeterna Zentaris (AEZ.TO) said the European health regulator has indicated that the data from the ongoing late-stage trial of its experimental colorectal cancer drug would be sufficient to receive a regulatory approval.
In April, Aeterna Zentaris and its U.S. partner Keryx Biopharmaceuticals (KERX.O) initiated a late-stage trial for the treatment, called perifosine, which has already received a fast track approval in the United States.
nester [12:04]: General Motors June sales drop 13 percent from May
General Motors says sales drop 13 percent from May, another sign of weakening economy
kotarah [12:05]: And orphan status
Andrew [12:05]: You did a great job calling out that entry kotarah.
madriver [12:05]: gm....wonder if june sales drop has anything to do with the crap they build?
Andrew [12:05]: and madriver too
ortrade [12:05]: exit NOVL no gain /loss
kotarah [12:06]: Says doesn't intend to conduct more trials for perifosine
* Says ongoing late-stage data enough to gain approval
June 29 (Reuters) - Aeterna Zentaris (AEZ.TO) said the European health regulator has indicated that the data from the ongoing late-stage trial of its experimental colorectal cancer drug would be sufficient to receive a regulatory approval.
In April, Aeterna Zentaris and its U.S. partner Keryx Biopharmaceuticals (KERX.O) initiated a late-stage trial for the treatment, called perifosine, which has already received a fast track approval in the United States.
Quebec-based Aeterna Zentaris said it does not intend to initiate additional study with perifosine for colorectal cancer as the data from the ongoing late-stage trial would be sufficient to gain an approval.
Last year, Aeterna Zentaris had received similar positive advice from the European Medicines Agency for the ongoing late-stage trial in multiple myeloma with perifosine.
"For the development of perifosine in both these indications (colorectal cancer and multiple myeloma), we believe that the planned North American clinical program ... is now sufficient for approval in Europe and in many countries," Aeterna Zentaris said.
Shares of the company closed at C$1.23 Monday on the Toronto Stock Exchange. (Reporting by Anand Basu in Bangalore; Editing by Maju Samuel)
knight [12:06]: Quebec-based Aeterna Zentaris said it does not intend to initiate additional study with perifosine for colorectal cancer as the data from the ongoing late-stage trial would be sufficient to gain an approval.
Last year, Aeterna Zentaris had received similar positive advice from the European Medicines Agency for the ongoing late-stage trial in multiple myeloma with perifosine.
"For the development of perifosine in both these indications (colorectal cancer and multiple myeloma), we believe that the planned North American clinical program ... is now sufficient for approval in Europe and in many countries," Aeterna Zentaris said.
Shares of the company closed at C$1.23 Monday on the Toronto Stock Exchange. (Reporting by Anand Basu in Bangalore; Editing by Maju Samuel)
turbo911 [12:06]: Re: KERX, I'm long 16k shares and 22k shares in AEZS (quazi-partner). Done a ton of dd and think this has big potential long term. So I keep adding on dips. But you can probably make some $ playing it daily.
knight [12:06]: it's more aeterna Zentaris....
Andrew [12:07]: out 1/3rd PCX tiny loss, out 1/3rd RDN tiny gain, just lightening up
knight [12:07]: i know that compangy
kotarah [12:07]: No wrong they hold worl licecing
nester [12:07]: got to run for a few hours...
madriver [12:08]: later neste
kotarah [12:08]: NEW YORK, June 29 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX - News) today announced that abstract O-0017, entitled "Subset Analysis of 5-FU Refractory Patients from a Randomized Ph II Study of Perifosine + Capecitabine (P-CAP) vs. Placebo + Capecitabine (CAP) in Patients with 2nd or 3rd Line Metastatic CRC" has been selected for oral presentation at the upcoming 12th World Congress on Gastrointestinal Cancer, to be held in Barcelona, Spain from June 30 - July 2, 2010. The oral presentation will be given by Paulo Hoff, M.D., Professor of Medicine and Chairman of Medical Oncology at the University of Sao Paulo, Brazil and former lead investigator for the capecitabine (Xeloda(R)) Phase 3 approval study in metastatic colorectal cancer.
Of the 38 patients enrolled in the Phase II study, 27 patients were previously refractory to a 5-FU based regimen. A Phase 3 randomized double-blind trial comparing perifosine + capecitabine vs. placebo + capecitabine in 5-FU refractory patients with advanced refractory colorectal cancer (X-PECT trial), under Special Protocol Assessment (SPA) from the FDA, is currently open and enrolling patients at multiple centers throughout the U.S.
KRX-0401 (perifosine) is in-licensed by Keryx from Aeterna Zentaris Inc. (Nasdaq: AEZS; TSX: AEZ) in the United States, Canada and Mexico.
rko [12:08]: Sell-volume spike in Euro.
Andrew [12:08]: short KERX 3.37
madriver [12:08]: lol
kotarah [12:08]: Now you have the scoop knight and it is not PEIX
knight [12:09]: is in-licensed by Keryx from Aeterna Zentaris Inc
123 [12:09]: spy looks like it is turning dow again
Andrew [12:09]: out SPWRA +1.4%
kotarah [12:09]: KERX is the one who is making Perifisone
Andrew [12:09]: added back to PCX short 11.27
knight [12:10]: Aeterna Zentaris Inc developp this med...
madriver [12:10]: i',m not sure what in that chart would make you short kerx???
Andrew [12:10]: added to KERX short 3.38
Andrew [12:10]: It just looks a little bit overbought on the 5-minute
kotarah [12:10]: without KERX AEZS has nothing
knight [12:10]: might be good to buy them on toronto stock exchange
Andrew [12:11]: risk-reward on the short side looks excellent with KERX in the 3.40s, still decent in the high 3.30s
kotarah [12:12]: ok wait and see in the coming days or even today KERX will move up the food chain look at 5 min 10 MA
123 [12:12]: kerx wont show up on sv so it must not make the cut on my setings
knight [12:12]: AEZ.TO
Andrew [12:12]: It's there 123
Andrew [12:13]: out half FAZ tiny gain
kotarah [12:13]: I have made tons of money in this stock and follow it very closely
knight [12:13]: i am surprise the stock is going down with this news -
knight [12:13]: it's may be the process sell on news
kotarah [12:14]: remember DNDN it's exactly the same BEAR RAID my friend
Andrew [12:14]: Probably just stop losses triggering below 3.60?
123 [12:14]: 10ma is trying to push up through 20ma on spy...stalemate till it goes one way or other on 5 min chart
kotarah [12:14]: this is no news yet are dense
knight [12:14]: it's look a very good news for me kotarah
Andrew [12:14]: There's still an unfilled gap at 2.80.
knight [12:15]: i am only surprise that stock went from 6 to 3 $ - i am wonder why ?
kotarah [12:16]: Unless this stock fails in some way it has a huge upside potential $40.00
Andrew [12:16]: I was shocked to see it so low
ortrade [12:16]: Exit ITW -14p
kotarah [12:16]: BEAR RAID
Andrew [12:16]: It was so strong during the first part of the year.
knight [12:16]: why ? which such a news
ortrade [12:16]: Exit AMSC -10p
Andrew [12:16]: In April it couldn't be stopped
kotarah [12:16]: why is it bouncing from $3.03 to $3.36 ??
Andrew [12:17]: 200 day moving avg perhaps
kotarah [12:17]: correct Andrew you and I had a disussion about KERX then
knight [12:17]: from 6 to 3 kotara
kotarah [12:18]: It's a GIFT KNIGHT
knight [12:18]: not the little bounce
kotarah [12:18]: I am up over 1000 to day on this alone how much you up ??
lindo [12:19]: TDA won't let me short it. Says its delisted from he Nasdaq
knight [12:19]: stock market is never a gift - we are here to make $$$
Andrew [12:19]: Which stock lindo?
knight [12:19]: i am 64 K now
lindo [12:19]: Kerx delisted from Nasdaq. TDA won't take shorts
lindo [12:20]: Kerx delisted from Nasdaq
kotarah [12:20]: I am not trying to convince anyone I believe in this stock and buy and sell apropriately
knight [12:20]: target 100 K for today
lindo [12:20]: Sorry, had suspend chats on
lindo [12:20]: trying to read to catch up
knight [12:21]: but i like kerx - that's why i am asking question ketarah
rw [12:21]: kerx looks to go up from here per my HG charta
kotarah [12:21]: well Im a peon compared to you I would like only 5000
knight [12:22]: ... but you know more about KERX
kotarah [12:22]: It has bounced from $3.03 and will continue up good luck on short ANDREW
Andrew [12:22]: It's not on many easy-to-borrow lists right now but your broker might have shares available if you ask.
knight [12:22]: i like value stock ...
kotarah [12:23]: well you got one no PEIX KNIGHT
kotarah [12:23]: up 1600 now
jim [12:24]: I agree with Andrew I thin KERX is a good short
knight [12:24]: the same kotarah , i did a lot of money with peix
madriver [12:24]: kotarah did nail that one....I got in early and too late
knight [12:25]: i keep adding on dip and sell on high
kotarah [12:25]: this is solid and PEIX was garbage
jim [12:25]: think
Andrew [12:25]: I'm hoping I can get some more off at 3.45 or so
madriver [12:25]: stop with the PEIX....come on.....there are so many people underwater on PEIX you shouldn't even mention it knight.....come on
kotarah [12:25]: you will and 3.50 and 3.70 ect
Andrew [12:26]: I definitely won't be sticking around for those, lol
ortrade [12:26]: FAZ is struggling now to go up..
123 [12:26]: back in spy 109 puts 10 at 7.50
madriver [12:27]: kotarah...did I bring that one to your attention or were you looking at it?
kotarah [12:27]: No i didnt think so we will see market down big KERX bucking the trend if market was up would go back over 4
Andrew [12:27]: Yeah the financials are consolidating at about -2.2% on the day.
kotarah [12:28]: I will see those AUG options as well today
Andrew [12:28]: added to FAZ 18.41
Andrew [12:28]: out RDN tiny gain
ortrade [12:29]: yeah it appears as the worst sector following healthcare..
Andrew [12:29]: out PCX -0.64%
kotarah [12:29]: No mad I track 1000 stocks KERX has been a top watcher for me and Ive made very nice money with options and stock
madriver [12:30]: bummer....I was hoping I helped you with that one
Andrew [12:30]: added to KERX short 3.41
kotarah [12:31]: Remember what TC said know your stock have exit and entry rules
madriver [12:31]: had a great entry...bad exit
ortrade [12:32]: Exit FAZ no gain / loss.
madriver [12:32]: but I can't agree with 6%
knight [12:32]: FAZ & TZA look great short
madriver [12:32]: meant to say argue
kotarah [12:32]: As long as it stays above the 10 day MA on 5 minut chart your fine
madriver [12:33]: thanks man......can you provide a couple other you like so i can look at charts?
Andrew [12:33]: added to FAZ 18.33
kotarah [12:33]: WMT RW you should have stayed yesterday
jim [12:34]: Andrew nice call on KERX
Andrew [12:35]: back short RDN 7.00
kotarah [12:36]: you may want to look at CYCC MAD
Andrew [12:37]: added to RDN short 7.04
Andrew [12:37]: added to FAZ 18.13
ortrade [12:38]: Exit phg -24p
knight [12:39]: Former Federal Reserve Chairman Alan Greenspan said that the recent stock market decline is "typical" of a recovery, and that international instability has more to do with the recent decline than problems in the United States.
"What we're looking at is an invisible wall, which we've run into here. Which, essentially, as far as I can see, is a typical pause that occurs in an economic recovery," Greenspan said in an interview with CNBC. "Ordinarily we're saying that the stock market is driven by economic events, I think it's more in the reverse."
"I will grant you that this is not a normal economic recovery. We've just come out of what I believe is the most extraordinary and virulent global financial crisis that the world has ever seen," he said.
"This recent decline is more international than it is a domestic affair," he said, adding that "there is an inherent instability in the euro system."
The lack of hiring is due to businesses being shocked by the collapse and dramatically pulling back on spending, Greenspan said.
"There is clearly a short term fear factor involved," he said. "People don't want to hire because they're terribly concerned they have to let them go. The average work week has been going up which is another way of telling you that they're more intensively using what they got before they're hiring."
knight [12:40]: The hiring that has occurred has been done by mostly been "dominated by large banks, higher income individuals and bigger business," Greenspan said. In past recoveries, small businesses do most of the hiring and begin to pull the the economy out of a recession, he said.
The ADP Employer Services report released Wednesday, for example, showed that large and medium sized businesses with over 50 employees reported an increase in hiring in June, while small businesses with fewer than 50 workers reported a decrease.
One of the reasons that small businesses are not hiring, Greenspan said, is because smaller banks are loaded up with commercial loans and aren't lending. "Small business is in real serious trouble," he said.
In the far ranging interview, Greenspan said that raising the capital gains tax in the US would be ill advised. He also added that the financial crisis could not have been foreseen.
"It is just not feasible to forecast a financial crisis," he said. "A financial crisis by definition is a sharp abrupt, unexpected decline in asset prices."
Andrew [12:41]: added to FAZ 18.09
knight [12:41]: green is coming as said this morning
Andrew [12:41]: added to FAZ 17.96 (double position)
madriver [12:42]: green sprouts
Andrew [12:44]: added to FAZ 17.82 (double position)
kotarah [12:44]: good short on KERX andrew
madriver [12:44]: be nice!!!
Andrew [12:45]: The whole market is having a mid-day short squeeze.
kotarah [12:45]: I am nice he knows Im just messing with him
Andrew [12:45]: added to RDN short 7.08 (double position)
madriver [12:45]: lol
Andrew [12:46]: added to KERX 3.44
knight [12:46]: take profit faz 18,93 to 17,8 part 3
madriver [12:46]: kotarah...where are you from?
kotarah [12:46]: He asked me and I gave him my 2 cent thats all MAD
ortrade [12:46]: FAZ 1000@17.87p
madriver [12:46]: where do you live..that's what I was asking..that's all
kotarah [12:47]: WHho me?/
madriver [12:47]: yeah...
knight [12:47]: take profit fas 17,46 to 18,6 part 2
kotarah [12:47]: Im from middletown NJ on the Jersey shore
ortrade [12:48]: once upon a time.. there was little sheep named Charlie..
madriver [12:48]: sorry to hear that.....all your money will go to paying taxes in NJ....ouchh
Andrew [12:48]: short SPWRA 12.30 (triple position)
knight [12:49]: solf 6,9
Andrew [12:49]: out 1/4th RDN +1.3%
knight [12:49]: jaso 4,75
kotarah [12:49]: Highest in nation but its home thats why I have to make big bucks on KERX
madriver [12:50]: that's cool. I know what you mean about home.........
kotarah [12:51]: Soon ANDREW will cover
knight [12:51]: anyone use my call today
kotarah [12:51]: looking good KNIGHT
madriver [12:51]: which one...there were many
kotarah [12:52]: DOW prediction
knight [12:52]: as usual whatever said mad, nester , TC and ortrade
Hoecake [12:52]: When can you buy the Weekly options? Is it every friday?
Andrew [12:52]: added to KERX short 3.46
kotarah [12:52]: goo on ya andrew
madriver [12:52]: knight...why are you on my case.....I don't have a problem with you so stop it!!!
madriver [12:53]: I might jag you once in a while but it's more in fun than anything so take it that way
knight [12:53]: i got my 100 K today -
kotarah [12:54]: wow money makes money KNIGHT
madriver [12:54]: you made 100k?
ortrade [12:54]: lol..
knight [12:54]: not only money - good investing too
madriver [12:54]: BUT lost about 100k yesterday.LOL
madriver [12:55]: good for you knight....keep up the good work
kotarah [12:55]: you still breathin RW
rw [12:55]: I sold wmt this morning kotarah
ortrade [12:55]: you for got the extra 0 there.. (1 mil not posted)
knight [12:55]: peix is coming slowy
rw [12:56]: Yes Kotarah......Thanks for asking I went outside and pulled some weeds also looking for our cat
LEECO [12:57]: ight
Andrew [12:57]: out another 1/4th RDN +2%
kotarah [12:59]: just checking RW
madriver [12:59]: rw...make any decent trades today?
kotarah [12:59]: MAD you didnt believe me still a good one to own
rw [12:59]: Yes BUCY was good WMT broke even
Andrew [13:00]: added to KERX short 3.48
kotarah [13:00]: WMT going well today
rw [13:00]: Sholuda bought MO also PM
rw [13:01]: Tobacco stocks are no brainer day trades usually......
madriver [13:01]: kotarah....it's not that I didn't believe you I just took my profit. Usually when I hit a number like that I'm out. I don't have a real big account yet like you!!
madriver [13:02]: hindsight is I should of let that one run!!!!
rw [13:02]: i did buy gld short only 100 shares
madriver [13:03]: plus I have a regular job and I just make a few trades a day usually
madriver [13:04]: plus I usually go for a run at lunch time...so I'm definately not full time
kotarah [13:04]: ok mad I got ya
Andrew [13:05]: added to SPWRA short 12.33
rw [13:05]: I run also - also go to gym 3 days a week....
kotarah [13:06]: Will sell KERX if it pierces 10 day MA on 5 min
rw [13:06]: BUCY now 47.70 I got out at 47dollars even........(hitting fingers with stapler again_)
ortrade [13:06]: I run 40min early morning.. makes me more candlestick patient..
rw [13:06]: absolutely ortrade........
madriver [13:06]: rw...don't run too far just enough to stay in some type of shape
madriver [13:07]: plus I bike a little too
rw [13:07]: I did marathons till 3 years ago-----but it is all about staying in shape.......
rw [13:07]: I bike also......just had bike repaired used to do bike and running type races...
rw [13:08]: always came in last
Andrew [13:08]: out half KERX -1.66%
ortrade [13:08]: yoga is also good few time a week.. keeps joints fluid..
madriver [13:08]: rw...used to be on top of the heap in triathlons many years ago
rw [13:08]: three years ago an 80 year old man passed me in a 26mile marathon - made me feel real
rw [13:08]: weak as I am only 73
madriver [13:08]: yoga....that's good one too
rw [13:08]: never could do a triathalon - because I could not do the swimming -
kotarah [13:09]: Some of these old guys will fool ya
ortrade [13:09]: old?
rw [13:09]: Yes they will - I think Leeco still runs some
madriver [13:09]: rw....I don't care if people pass me anymore........been there......blah blah
rw [13:10]: Me to =- I could care less -
Andrew [13:10]: out rest of RDN +1.4%
rw [13:10]: be back later - going to gym
ortrade [13:10]: I fast now every other day.. started 2 days ago.. very healthy..
rw [13:11]: good ortrade.
ortrade [13:12]: fasting is best medicine.. not very well known in western cvilization..
rw [13:12]: do you just have water all day
kotarah [13:13]: RW AAPL loks good on 290 /300 calls
ortrade [13:13]: Just water 24 hours.. It gets easier every time..
rw [13:13]: I need to start doing options again
ortrade [13:14]: why take drugs when you can starve those microbs to death.. lol..
ortrade [13:15]: Exit FAZ +260p
Andrew [13:16]: out 2/3rds FAZ -0.7%
Andrew [13:16]: added to back to KERX short 3.48 (double position)
Andrew [13:17]: out SPWRA -0.44%
Hyperion [13:19]: There was the equivalent to today's PLUNGE PROTECTION TEAM after the 1929 Stock Market crash. It was formed by the big banks under the leadership of JP Morgan. On one of the crash days, this syndicate purchased large amounts of key stocks well above their offering prices in an effort to halt the collapse. And they were successful, at least on that day. But the crash resumed the following day and the bankers reluctantly stepped aside realizing that they were simply throwing good money after bad. The 'Plunge Protection Team' of today is much more powerful than their counterparts of the late 1920s and early 30's because, to a large extent today they are now using the public's money and today they are comprised of the Federal Reserve, SEC and U.S. Treasury along with a few of the largest banks and brokers around the world. This entity has the wherewithal to throw huge amounts of money into the market.
Andrew [13:19]: added back to FAZ 17.97
Andrew [13:20]: added to FAZ 17.93
ortrade [13:21]: The other day the market opted for a tighter utn consolidation of the mid BB trying to take a higher level.. Yesterday it did not succed. Today I'll wait for a similar move before rentering FAZ..
Andrew [13:24]: added to FAZ 17.84
Andrew [13:25]: added to FAZ 17.89
Hoecake [13:27]: I know its a cheep-o stock but BPOP is following the 8ma to the T
Andrew [13:28]: added to KERX short 3.51
Andrew [13:32]: added to FAZ 17.80
kotarah [13:34]: Sold KERX @$3.48 + 2400
Andrew [13:35]: added to FAZ 17.70
knight [13:35]: green is coming
kotarah [13:36]: looks that way KIGHT
Andrew [13:36]: back short RDN 7.04
Andrew [13:36]: back short PCX 11.65
Andrew [13:38]: short MBI 5.51
Andrew [13:40]: added to RDN short 7.07
Andrew [13:41]: tripled up on MBI short 5.51
Andrew [13:41]: tripled up on PCX short 11.64
Andrew [13:42]: added to RDN short 7.02
ortrade [13:42]: FAZ 1000@17.80p
kotarah [13:48]: KERX 10 MA breached may be good for you Andrew
Andrew [13:49]: There aren't many sellers in KERX right now
Andrew [13:49]: out half FAZ -0.2%
kotarah [13:49]: yes I know if it goes above I will buy
Andrew [13:50]: added back to FAZ 17.88
Andrew [13:51]: added to FAZ 17.90 (double position)
Hoecake [13:53]: Andrew you L or S on FAZ?
ortrade [13:53]: Exit FAZ no gain loss.
Andrew [13:53]: I've been long FAZ for most of the day - been trying to control the damage from the short squeeze while still holding a core position.
Hoecake [13:55]: gotcha, I would not be long on FAZ untill its breaks the 8 and hits the 20ma
Andrew [13:56]: I've been extremely aggressive today due to the big volatility.
kotarah [13:58]: buy 2500 KERX @ $3.51
Andrew [13:58]: added to FAZ 17.78
Andrew [14:01]: added to MBI short 5.53, added to PCX short 11.68
ortrade [14:01]: the denser sychzofrenic chanell proceeds as I expected on FAZ.. lol.. not clear yet which way it will break..
Andrew [14:03]: added to FAZ 17.73
Hoecake [14:05]: Once FAZ closes above the 8ma on the 5min I think I will take a position
Hoecake [14:09]: Nester, I found my answer on the Weekly's, the new ones are issued every thursday and expire the following friday
Hoecake [14:11]: Sneeky FAZ almost tricked me...lol
Andrew [14:12]: I really didn't expect XLF to go back up to 13.70 today.
Andrew [14:16]: added to FAZ 17.60
ortrade [14:16]: PWER 2000@7.11p
Andrew [14:17]: added to RDN short 7.10
Andrew [14:17]: added to PCX short 11.71, added to MBI short 5.54
ortrade [14:19]: Exit PWER -135p
Andrew [14:20]: added to FAZ 17.61
Andrew [14:20]: added to RDN short 7.04
ortrade [14:21]: PWER 2000s@7.07p
ortrade [14:22]: FAZ 1000@17.72p
Hoecake [14:22]: Long BAC papertrade 1500 @ 14.14
Joe [14:25]: quick question: Does anyone knows anmd can tell me what's going to happen to my TZA options when they do the reverse split next week? Am I gonna loose my money and should sell before or the options ajusts?
Hoecake [14:27]: Joe I am not sure on that one... someone else should know the answer
Andrew [14:28]: short DCTH 5.93
Joe [14:28]: ok thanks...I did some research but still not clear to me
Andrew [14:29]: I think the options should be adjusted to keep inline with the reverse split.
rko [14:29]: Joe, you will have 1/10 the number of contracts at double the strike. If you have a multiple of 10 you will be okay.
rko [14:29]: 10x the strike
Andrew [14:30]: tripled up on DCTH short 5.91
Joe [14:30]: OK but I tought it was a 5:1 not 10:1
Joe [14:30]: but I guess same idea
rko [14:30]: you're right 1/5 the number of contrcats at 5x the strike
Joe [14:31]: ok thank you
Hoecake [14:33]: FAZ L 1500 17.80 papertrade
Joe [14:33]: so TZA will be around 40$ shares and if I have the 7$calls at 1.00$ my new strike price will be 35$ calls at 5.00$. Is that right? But my "money value" will be the same.
Joe [14:33]: but I will have less contrats
rko [14:35]: correct
Joe [14:36]: thanks for your help
Andrew [14:39]: out 1/3rd KERX +1.7%
Andrew [14:40]: added back to KERX short 3.44
Andrew [14:41]: out half FAZ tiny loss
Andrew [14:42]: out 1/5th KERX +1%
Andrew [14:43]: out 1/3rd remaining FAZ +1%
Andrew [14:43]: out PCX +1.3%
Andrew [14:44]: added back to FAZ 17.97
Hoecake [14:45]: BAC trade not going as well as planned, but I am willing to hold, FAZ is helping to offset
Andrew [14:45]: out DCTH +1.1%
Andrew [14:45]: I'm taking advantage of that strong selling to take profits in about half of my short positions.
nester [14:46]: http://finance.yahoo.com/banking-budgeting/article/109972/valuations-at-mid-year?mod=bb-budgeting&sec=topStories&pos=7&asset=&ccode=
Andrew [14:48]: added back to KERX short 3.44
Hoecake [14:49]: 5 Min still red, lets go FAZ lets go!
Andrew [14:52]: out 1/5th FAZ +1.5%, out 1/5th RDN +1.3%, out 1/5th MBI +1.2%
ortrade [14:53]: Exit FAZ +320p
ortrade [14:53]: Exit PWER +40p
moby [14:54]: 123 [11:12 (USA)]: my best week ever and all on option plays....can't wait for Gars webcast. made over $4000. on options since I bought Gars option book. Better reserve your spot on Gars webcast.
moby [14:54]: 123 [11:14 (USA)]: I did not have a clue about options before I read his book. I bought other books but still did not have a clue on options. Gar is great at explaining. I use my tech experience for entrys and trade options like they were stocks.
rw [14:54]: BWEN is worth a look you all -------4 up days ----somje kind of alternative energy stock I think
Andrew [14:54]: That's great so many people have been making money with options from Gar's teachings!
Hoecake [14:55]: Out FAZ 18.05
ortrade [14:55]: FAZ 1000s@18.02p
Hoecake [14:55]: 1.40% gain
Andrew [14:55]: out half KERX tiny gain
nester [14:55]: Moby - did you sign up on Gar's webinar yet?
moby [14:55]: yep I can hardly wait
Hoecake [14:56]: Up $500.00 today paper trading...cant complain
moby [14:56]: bought the book too
nester [14:56]: i signed up last nite. always can learn more...
Hoecake [14:56]: The book your referring to is the one that he released a few weeks ago?
nester [14:57]: yes Hoecake
moby [14:57]: yep, is very good, and this TUes is a webinar teaching about it
Hoecake [14:57]: I picked it up as well
Hoecake [14:57]: I want to do the webinar, but the first 3 areas I know about. The trading part is what has me interested. I am still undecided about the webinar
Andrew [14:58]: added back to KERX short 3.48
nester [14:58]: read thru the book first then participate on the question / answer at the end...
moby [14:58]: he will be doing that too
nester [14:58]: if i read that correctly, won't he be showing you on his screen how to buy them?
moby [14:59]: sharing his computer screen showing us how he does it
Andrew [14:59]: added back to FAZ 17.97
moby [15:01]: then when you have questions to suit yourpersonal style you can ask questions and others wioll have questions, will be very informative
moby [15:01]: plus will have access to a recorded archive so you can see it how ever many times you want
Andrew [15:02]: added to FAZ 17.81
Hoecake [15:02]: I know I want to do, just the timing will not work for me. I will still be at work...
nester [15:02]: looking forward to seeing other trading styles.
Hoecake [15:02]: Maybe the nex one I can catch
Andrew [15:02]: added back to RDN 7.03, added back to MBI 5.49
nester [15:02]: you can download it and watch it when you wish then.
ortrade [15:03]: Exit FAZ +200p
moby [15:03]: and ask questions by email reagrding it
moby [15:03]: after you watch it, I can hardly wait
Andrew [15:04]: added to KERX short 3.48
madriver [15:04]: andrew...you're still in that kerx trade
Andrew [15:05]: Yes, overall I'm still pretty close to breakeven in it overall.
Hoecake [15:05]: Oh I know, I want to be there live so I can ask
madriver [15:05]: I think that might be a good swing trade long into tomorrow IMO
Hoecake [15:05]: He will do another one I am sure
kotarah [15:05]: I bought 2500 @3.51 MAD
Andrew [15:05]: added to FAZ 17.83
madriver [15:06]: I think that might worked for you tomorrow or even today. What do you think IMMU?
Andrew [15:07]: Very sideways the last few hours
Andrew [15:08]: added to FAZ 17.74
madriver [15:08]: kotarah....is IMMU on your watch list?
kotarah [15:08]: Its above 10 MA Entry @3.05 I dont track Immu I would look at support market trend an resistance
madriver [15:09]: I thought that one might be on your radar....guess not.
rw [15:09]: one of the main owners of KERX really sold a load of stock in may of this year about a million shares late in may
kotarah [15:09]: not at all
rw [15:11]: michael weiss planns to sell a lot more shares per the info I have of kerx
kotarah [15:11]: your right Rw however look who owns it MFFIAS.com That means nothing insitutional shares are up 25% you have to ask why
kotarah [15:12]: Fidelity has a large stake as well there not selling
madriver [15:12]: is that a good enough reason to buy if institutions are not selling??
madriver [15:13]: I'm asking WHY? Why?
rw [15:13]: from what I read about kerx is that the one guy with a lot of shares still plans to sell about 500,000 more that he has NOT sold...........he is one of the brains of the outfit
rw [15:14]: Biotech stocks are very dangerous madriver.
Andrew [15:14]: out 1/4th FAZ tiny gain
rw [15:14]: I used to sell puts , every month , on all kinds of stock until I lost $14,000 in one month on MNKD I sold a bunch of puts and it tanked
madriver [15:14]: very volatile.....gap alot it seems
kotarah [15:15]: What I have said is KERX is now making presentations on Perifisone in SPAIN as we speak in a week or so I think you will see very positive stuff thats why Im buying look at resent news
rw [15:15]: selling options is better than buying options inasmuch as 80% of Options expire worthless
Andrew [15:15]: That's interesting rw - MNKD was my biggest loser. I don't like that stock.
rw [15:15]: I hate it Andrew......really do............
Andrew [15:16]: It makes huge moves up and down on absolutely no news.
madriver [15:16]: mnkd is another.....wild swings...I've traded that one as well
rw [15:16]: I sold tons of puts -= but learned you had better have protection.........
madriver [15:16]: 14k you must of had alot
kotarah [15:17]: also bought back 2500 because it's above the 10 MA MAD
Andrew [15:17]: out 1/5th RDN +1%
Hoecake [15:17]: So everyone did we bottom today? LOL
rw [15:17]: Sold a bunch - it was a bad month ma driver ---one day I woke up and was down the 14,000
Andrew [15:17]: I highly doubt it.
rw [15:17]: options account had about $50,000 in it...
lindo [15:18]: Sold a put on GS in May for July expiration. Don't know what I'm going to do. Probably own GS
rw [15:18]: No Hoecake --------I think we will bottom at 9,000 area dow
Andrew [15:18]: We need to close green in order for that to be more of a possibility.
kotarah [15:18]: Market Outlook: The Roller-Coaster Ride Will ContinueThe world finds itself in a fine financial mess. Everyone is waiting for a quick fix that will usher in a return to a hope-filled state of rising standards of living, full employment, higher home values, and less government intervention in the private sector. The sad fact of the matter is that there will not be a quick fix. The intricacies of a global economy, where political, economic, and cultural constructs are vastly different, will not allow it. The fix will take time -- perhaps a lot of time -- because the short-term solution of throwing a lot of money at fixing the structural problems that brought us to this point is creating a host of long-term issues that will keep growth from being all that it can be.
kotarah [15:19]: Thats why ANdrews shorts will be ok
Hoecake [15:19]: I agree RW I think we head down closer to 9000
Andrew [15:20]: One interesting thing is that we have wicked back above the 100-week moving avg. in the S&P and that previously signaled short-term bottoms in December and February.
rw [15:20]: my gld short is doing great...
Andrew [15:20]: Tomorrow though we could go back below.
kotarah [15:20]: good RW
rw [15:20]: agree hoecake ----------my sources also confirm that.........what is there to be bullish about
rko [15:20]: Market is thin and volatile. This is not an investors market, it is a trader's market. All my shorts make money, my longs don't.
rw [15:20]: only 100 shares of gld but 4.18 a share is good
Andrew [15:21]: Actually maybe not December I think I have a bad tick in my data.
rw [15:21]: also have dxd 1300 shares - it did well yesterday and day before ----
madriver [15:23]: nothing to be bullish about really but what was there to be bullish about to begin with????
Andrew [15:24]: KERX is a pretty evil one like MNKD. It fell 14% this morning in just half an hour on no news.
ortrade [15:24]: unlike yesterday, today we did not slide yet..
Gar [15:24]: How's everyone doing?
kotarah [15:25]: EVIL as a BEAR RAID
Andrew [15:25]: I was doing well until the huge short squeeze after 11:00am.
Hoecake [15:25]: Hola Gar
kotarah [15:26]: Mr KNIGHT I dont think your going to be right
Gar [15:26]: If they pound this thing down into the close, it will be a textbook lunar bounce setup. Because tomorrow's jobs report is expected to be bad, which means it will already be factored into the sell-off. Almost ANY number in the report will spike up the market.
Gar [15:26]: Is knight saying we will rally...again?
Andrew [15:26]: 10 of the last 11 days have been red I think.
Andrew [15:27]: He thought we might close green.
Andrew [15:27]: And the green day we had was just a doji.
Gar [15:27]: I have a hunch that today they might spike it up, because traders will anticipate what I was just saying (that the bad jobs report is factored in).
ortrade [15:27]: around +200p for the day (all posted entries and exits).. overall not either a very rational or irrational market..
Andrew [15:28]: I think I'd feel more comfortable going long tomorrow after all the data is out.
madriver [15:28]: TC said usually green before holiday in most cases?? People are happy I guess
madriver [15:28]: Any earnings after close?
Andrew [15:28]: out 1/3rd remaining FAZ tiny gain
Andrew [15:28]: out MBI tiny loss
nester [15:29]: unemployment number are tomorrow before open
Gar [15:30]: Yes, and what I am thinking is a bad report is anticipated, so if it's bad the market will rally.
nester [15:30]: breifing is 9.8%
Gar [15:30]: ...which will seem irrational until you realize this week's selloff was anticipating bad numbers.
nester [15:31]: yup... could be a green day tomorrow
Gar [15:31]: I am kind of hoping they beat the market to a pulp into the close, that will be a storybook lunar setup.
nester [15:31]: that would be great
rko [15:31]: Hope?
rko [15:32]: Did somebody say "hope"?
Gar [15:32]: Something tells me however that won't happen. I think too many traders will be thinking the same thing and get in...driving the market up in the final minutes.
madriver [15:32]: it would have to go down like 125 or so....I don't think that's going to happen IMO
madriver [15:32]: -125
rko [15:33]: knight says we close green
madriver [15:33]: I think the sellers are taking a break IMO
Andrew [15:33]: added to FAZ 17.79
Gar [15:33]: knight always says we will be green.
madriver [15:33]: knight said that for the past week
rko [15:33]: lol
Gar [15:34]: Sooner or later he will be right...lol.
madriver [15:34]: if I listed to knight I would be broke....no offense knight. U have a strat that works for you.....
madriver [15:34]: listened
Andrew [15:34]: He's right 90% of the time I think he mentioned
Gar [15:35]: Hey the response so far to the webinar has been pretty good. However there are still a few seats left before we max out. So don't wait! www.garsworld.com/webinars.htm
kotarah [15:35]: Self proclaimed
rko [15:35]: it's more like 70%. I've been keeping track
madriver [15:35]: if he's right 90% of the time he is the only trader in the world with that record
Gar [15:35]: He would also own all the money by now.
madriver [15:35]: probably more like 60%
nester [15:35]: GS is 100%...
rko [15:35]: lol
Gar [15:35]: I am 100% right (in hindsight)
madriver [15:36]: he wouldn't be on SV....I can guarantee you that....no offense GAR
madriver [15:36]: always a qualifier
madriver [15:36]: knight is okay....keeps things interesting!!!
Andrew [15:36]: added to FAZ 17.70
Gar [15:37]: This is playing out as I thought so far...traders anticipating what I was thinking, that the bad jobs report is factored in. Man it is hard to outguess these people.
rko [15:37]: yes he is
Andrew [15:37]: out RDN tiny loss
rko [15:37]: This is a market priced for Armageddon
madriver [15:37]: may as well buy into the close
Gar [15:37]: They are killing the lunar.
rko [15:38]: It might get hammered yet
Andrew [15:39]: The levels that were previously support in November 2009 have been acting as resistance this afternoon.
Hoecake [15:39]: Gar do you have a list of future webinar topics?
Andrew [15:40]: added to KERX short 3.48
madriver [15:41]: I'm not liking Kerx right now....thought it might be a lunar or swing
kotarah [15:41]: I think KERX may rally last 10 min Andrew
madriver [15:41]: LOL
Andrew [15:41]: I wouldn't want to be either long or short KERX overnight personally.
madriver [15:42]: kotarah....seems to be going counter trend or counter Dow
kotarah [15:42]: Im holding 2500 overnite regardless will buy more on a dip
Andrew [15:42]: There's so much room for it to go up, and there's also so much room for it to go down.
madriver [15:42]: i wouldn't either.....too risky for me too
madriver [15:43]: I like IMMU if we are up tomorrow. Kotarah watch that one. Watch it will probably die after I say it
kotarah [15:43]: KERX looks like its stuck just hanging in its ok already up 2400 for today
madriver [15:43]: that was a good trade....no doubt
rw [15:44]: There is still a planned sale of 500,000 shares by one of the principals -----re KERX that is not much but is 500,000 shares
kotarah [15:44]: as long as it stay above 10 MA 5 min chart I dont care
Hoecake [15:44]: Hey Gar do you ever play the new Weekly options on like BAC or the XLF or GE?
nester [15:44]: unless something major happens in the next 15 mins, i'm staying clear of this market for the night
kotarah [15:45]: RW it is overall 25% up
rw [15:45]: Kotarah I hope it does well for you......and with a good drug hopefully it will....
rw [15:46]: I tried to buy it today at over $45.00 thank god it rejected my order
Gar [15:46]: Hoecake I am not sure what you mean by the Weekly option.
madriver [15:46]: as long as you protect your gains you've already done very well.
kotarah [15:46]: I dont like the market either howeever it does have a hugh upside to each his own
Hoecake [15:47]: CBOE has new options that start every thursday, and expire the following friday
rw [15:47]: i can think of no reason for anyone to be bullish on anything except maybe the iphone
Hoecake [15:47]: Its only on a few stocks
madriver [15:47]: are they expensive?
Gar [15:47]: I did not know that. Sounds kind of bogus.
nester [15:47]: kotarah - it also has a huge downside right now.
kotarah [15:47]: there not doing well either RW
Hoecake [15:48]: http://www.cboe.com/micro/weeklys/introduction.aspx
madriver [15:48]: kotarah....can you try those weekly options and let us know how it goes...kidding
Hoecake [15:48]: LOL I just think they are interesting, and unless expecting a huge move there is no reason to play them
rw [15:48]: all my early picks are up MO PM RAI UVV and LO is unchanged......
rw [15:49]: Do not mean to brag
Hoecake [15:49]: I was wondering if you had any experience with them, but it sounds like you don't since you had no idea what I was talking about
rko [15:49]: hammer
madriver [15:49]: rw...likes tobacco?
kotarah [15:49]: Then NESTER they will go to zero a take me with them Im holding and will by more on dips
Andrew [15:50]: out 1/3rd FAZ +1.2%
rw [15:50]: Yes madriver - it is stable runs up almost daily great daily trading stocks.....I do own MO long term have had it for years --------
rw [15:50]: UVV is a leaf seller - does very well......
kotarah [15:50]: soon I will be rich or poor but I think it will be the latter
rw [15:50]: BTI also good stock to trade daily
madriver [15:50]: interesting
madriver [15:51]: i'm a socially responsible trader........................NOT
rw [15:51]: Look at those stocks and see how they have done even today, include LO Lorillard
rw [15:52]: gets back to over indulgence madriver.........
rw [15:52]: Food in excess is not good.
rw [15:52]: in fact probably the largest killer out there ------
madriver [15:53]: america is chunky....no question about that....
Hoecake [15:53]: I have been thinking about picking up some MO for the long term.
rw [15:53]: good dividend 6% stays about the same..........
Gar [15:53]: I did really well on the papertrader today. Four trades and all of them solid green. Two shorts and two longs.
Hoecake [15:54]: I just do not see a huge catalyist to send it up anytime soon
Hoecake [15:54]: I am currently holding VZ, great divedend
madriver [15:54]: no lunar guys
Gar [15:55]: Market can't seem to make up its mind.
rw [15:55]: Mo owns the snuff, cigar and cigarette buisiness in the world.........Mo should go to 22 this year - in the meantime I need the dividend........
Andrew [15:55]: The volume was pretty big today.
madriver [15:55]: Andrw.,.how did you do with kerx....are you out?
Andrew [15:55]: added to KERX short 3.49
rw [15:55]: Mr. Knight was off on the close but it sure came back from 150 down to 35 down.
Andrew [15:55]: I'm running out of time, I was definitely wrong about the sellers there
knight [15:56]: not bad my call at 11
rko [15:56]: not bad, knight
rw [15:56]: No- Not bad at all.......
knight [15:57]: i think the market is overreacting on fear only about recesssion
knight [15:57]: the market is gone rally again between july 7 to 15
madriver [15:57]: media sort of hyping a great recession or double dip etc...I think it's spooked alot of people
rko [15:58]: scaredy-cats
madriver [15:58]: rally equals what?
rw [15:58]: I made money on GLD short today.....
rko [15:58]: Rally = Dow to 10,500
Gar [15:59]: I'm almost tempted to do a lunar short but the market hasn't rallied enough for that.
madriver [15:59]: 800 points in a week?
rw [15:59]: My junk bond funds are still doing great also.
knight [15:59]: take profit from FAZ 18,9 to 17,7 part 4
Andrew [15:59]: out KERX -0.58%, out FAZ -0.28%
rw [15:59]: probably only 10,000 shares or so........
knight [16:00]: take profit from FAs 17,5 to 18,72 part 3
rw [16:00]: see all tomorrow ----good evening.
Hoecake [16:00]: Im outta here, see everyone tomorrow.
Gar [16:00]: There are a few seats left in the webinar. Those who haven't signed up, you should. www.garsworld.com/webinars.htm
madriver [16:00]: bye folks...
knight [16:00]: continue to hold RDN
Andrew [16:01]: Tomorrow could be good. We have a lot of room to bounce and also a lot of room back down to re-test lows.
rw [16:01]: Thanks again Mr. Knight for your trading posts.....Also to Andrew......
knight [16:02]: hope , it's had help some on this board
knight [16:03]: and i did really well today - really over my target
knight [16:05]: kerx did not move a lot - on kotarah post
Andrew [16:05]: There were a lot of buyers and sellers up near 3.50.
knight [16:06]: solf & jaso did really well and will continue<
Andrew [16:06]: Yes the solars look pretty good.
Andrew [16:07]: SPWRA is another that closed near highs.
Treacherous_Cretin [18:42]: Looks like we would have gone sub 9500 today except for the crazy short covering on the euro because of the ECB repo rate spike. That is a sugar shot that will not last. We may waft a little higher tomorrow, though I doubt anything surprising if we move upwards. Otherwise, I would be looking for this junk to tank next week. Keep helmets handy
Treacherous_Cretin [18:42]: bye folks
JayBird [19:05]: Tomorrow morning, four economic reports are scheduled to be released before the open: Nonfarm payrolls (Consensus -100K), 2) Unemployment Rate (Consensus 9.8%), 3) Hourly earnings (Consensus 0.01%) and 4) Average workweek (Consensus 34.2).
nester [19:54]: Swing - here are the ones i am looking to short. tell me what you think GGB ORCL MS SCHW AMAT SPR GE LOW BRCD TSO GGP & MWV
iswing64 [21:17]: GGB/daily chart short..However 15 min chart..prices are currently on the north side of bb/bands and may cross 50 sma..stochastics are in the upper range..I'm gonna say an ideal short trade would be a 4&9 ema cross over middle band p-sar and K over D line stochastics should be a help to confirm on the 15 min chart..will try to post some more.later tonight..
iswing64 [21:41]: Sorry meant 4&13 ema
iswing64 [21:47]: ORCL..60 min..as long as prices remain on the southside of bb/bands would stay short.would prolly look for k/d cross over&down for new entry.
iswing64 [21:49]: MS..Sweet 60 min would stay short.
iswing64 [21:50]: SCHW 60 sweet..same
iswing64 [21:51]: AMAT 60 same...
Andrew [21:52]: So many charts have similar patterns now. I think it has to do with the increased overall market volume and more stocks moving along with the market each day.
iswing64 [21:53]: SPR..60..not so sweet..at the moment..would look for stochas cross down
Andrew [21:54]: Here are some possible longs to watch how they behave tomorrow... SOL, ANVR, CZZ, BJ, NTES
iswing64 [21:55]: GE 60 same..
iswing64 [21:59]: TSO..15 min bb/squeeze there..hmmm stochas down..but could break hard..either direction..neutral on that
Andrew [22:00]: TLB could be an interesting one to watch tomorrow too.
iswing64 [22:11]: GGP.prices currently just on the northside of bands..and outer bands are narrowing..may be in a trading range for a bit..p-sar up..but stochas down...neutral as far as 15 min.may see a little up move there..or not...lol
iswing64 [22:19]: I know you don't need my opinion nester but thanks for asking..see you next week take care.
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