Monday, September 17, 2007

Quiet Before The Storm?

Man, this stock has ran 20% in the last 5 sessions. Clearly, money is being put to work in the name, but still, it needs to take a breath soon.

Unfortunately, today wasn't the day. And, I got short...

So I got smoked, losing about $750 in LVS, the gambling stock. How apt.

Anyway, otherwise, I did well today. I got short LAZ at around $41.90 and made a little over a half point in the guy.

I also stayed short some overnight. Hopefully, LEH posts a bomb, freaks the market out therefore allowing me to cover with a quick gain. My worry is that this trade seems almost too easy and obvious... we'll see. Heck, the Fly" is short... as long as the same "fat mountain bitches" who run CWTR don't run LAZ I think it could work out.

Other shorts that worked in my favor were KMT, DSX, HXM and AMG.

I traded lightly today... just trying to have a positive day before the storm tomorrow. I need to rebuild confidence here since we may be headed for some volatility.

Also, I don't remember whether or not I've brought this up here earlier, but I think the market is fucked tomorrow no matter what happens. It's run back up here on really light volume. I bet tomorrow we'll see a sell off on higher volume despite what Uncle Ben does for us.

Anyway, go vote on my damned poll. Also, if you're a stock trader and want to join the VO, email me. I need to shake it up a bit.

Here's the stats:

P&L, $250
Best, LAZ, $524
Worst, LVS,

14,000 shares traded.
8 stocks traded, 6 winners, 2 losers.
70 trades.


Jawbreaker said...

Good luck with your LEH short DT. I hope you make a killing bro. I also think Bernanke cuts .25% and the market tanks hard.(i hope) I love when the market gets crushed.. Iam really wondering how the new NYSE fee INCREASE will affect me. I pretty much use MKT orders. take care. tony

Bluedog said...

Also concerned about tomorrow. My daytrading side of me hopes for volatility, but I have longs that are hurting and need a good rally. It would be nice to see a recovery.

bloggerdotcom said...

Check this out:

Dinosaur Trader said...


I'm short LAZ, not LEH. What fee increase are you talking about? Damn, another? I still use market orders almost all of the time...


Jawbreaker said...

DT, go read rays post about fee changes. Basically, if you add liquidity its free but if you take away liquidity (MKT ORDERS) you will be paying double. All the traders i know are freaking out.

Dinosaur Trader said...

I don't get how market orders "take away" liquidity. This doesn't sound good at all.

I'll check it when things slow this morning. Thanks for the heads up.


Dinosaur Trader said...


That's some "bet" the guy is making...

It'll take a "black swan" to make the market decline by 1/3 in the next 2 weeks though.

Perhaps if the Fed raises at 2:15?