Friday, October 19, 2007

Blood On The Streets? Hardly.

Perhaps it was just too much to have the anniversary of Black Monday and the 50 year (or something) anniversary of the Wilhelm Scream fall during the same week.

Whatever. Relax. The market will go back up next week. It always does.

As "Tradercaddy" sagely pointed out over at "the Fly's" to make today like the Friday before Black Monday, the market would have had to close down 3500 points (or something).


I was largely out of the market today due to "technical difficulties" at my company in the first 30 minutes of trading. So I was actually on the phone with them at 9:31 when I should have been hitting the market with all of my force. I called in a "locate" on DRYS near $126 (no joke) and they never returned my call. It's service like that that makes a man consider trading for a new company.

My best trades of the day came in DSX which didn't really follow the rest of the shippers down early, but "caught up" around 10:30.

I also made a bunch of points shorting FXI and some good money shorting PMI.

That was it. And it sucked. Today is my type of day and I missed it.

Here's to Monday!

Meanwhile. It was a crazy week. I will put up an "open thread" this weekend. Come share your trading stories for the week. Tell a joke, link whore yourself, whatever.

Anyway, here's the stats:

P&L, $2314
Best, DSX, $1097
Worst, RWT -$218

45,600 shares traded.
14 stocks traded, 9 winners, 5 losers.
182 trades.


jeffpaz said...

Good job riding the waves down DT...

lawrence said...

Oh yeah, you did notice on DRYS too. I wanna shot PUT mean shoting Drys by trading in option at the 126 point. My fibonacci told me to shot it to death. Argh in the end i shotted GS instead hehe.

wincity said...

It feels strange to me that you have to do a "locate". I use IB and have never had an issue shorting DRYS, though I haven't touched it last few days.

I admire you for having the guts to short DRYS. The toad is 56% shorted and has a float of only a 5 million shares. Strangely, it drops big often. Instead, I have been fighting the strongest toad TBSI. DRYS is still under its high of $131, but TBSI went almost 10% over its old high yesterday. Go figure.

Congrats on your good day.

Dinosaur Trader said...

Thanks guys.

I feel like I really was out of it all day... like I missed tons of opportunities.

Anyway, I'll be happy as long as the volatility sticks around.