Wrong!! You don't should put it as -T value!!
You should write script sth like this:
Code:
rtmpdump -V -v -r "rtmpte://fwebcast.now.com:80/liveEdge/" -a "liveEdge/" -W "http://news.now.com/share/mediaPlayer_1.swf" -p "http://news.now.com/home/live" -y "now360?346F28480AF5BBA08D1F48EE90D2F7BEA4F77191CBBEDA1E909A0F472FC637E395A9F48A1C99CAF92833BECAEABC7E3B42A99C6E963CCA9B297FAB6DF09B028643345A1FE87AC8DFA82191D330EA123A93B511621D4ADB845DC7DC2E2E386ED0E8AABE1EB7BB9E5ED0715E2883D40C1F7C76F335A32C82EC5F9A02098BB1FC6382355F4E0939B8F5847228AF33C2A99C00FDA103137B2B45F4189DA54E5682BF16F96BE8D95532124CA3F2CFFD831F813EF400C426651079718A819172181D5F5F6C6FA010654BEA96B6848E6BD0504754AEE3D688E826B460BCE1269A7EDF0B" -o Test.flv
Get a new token, and try again!