Virtual Office, $8272. Dow, -71.29, 13,913.51.
Evolution, $1134 on 30,900 shares traded.
Momojuicing, $962 on 12,000 shares traded.
Tapeworm, $345 on 2 contracts traded.
OBAT, $159 on 8600 shares traded.
Bubs, $116 on 400 shares traded.
Denarii, $48 on 1600 shares traded.
Akalawoo, no trades.
Me, -$494 on 26,000 shares traded.
Great day for the VO, fucking frustrating day for the Dinosaur.
Again, since I feel like it, I will repeat my new mantra, "volume sucks." Why? Is it because more people are trading away from the Hybrid Market? Is 1.2 billion shares the new normal? I don't know. All I do know is that I hate low volume markets.
Still, why complain about volume when the rest of the VO is making money hand over fist. Volume in the overall market is really inconsequential when you have moves like those made in DRYS and ANW today. Heck, even RDN moved a lot...
When the volume is absent, you need to go where the volume is.
Anyway, I'm not sure if I'll get a daily post up tonight, I have lots of non-blog related stuff to do. I'll sum up my day for you with 2 words. I sucked.
Enjoy your evening.
5 comments:
Dino, you're right about going to where volume is. I put ANW on my watch list last night but missed it because I was fighting the stupid TBSI. I probably heard of the toad ANW only because of you. Could've made some money from it today and then I could buy you a beer.
Win,
Yup! I fought QMAR and TBSI all day "knowing" that they would go down to follow DRYS.
Idiocy.
-DT
I felt the same thing about TBSI. I have been fighting the toad for about a week now. I have DRYS side by side with it in my hot watch list. Whenever DRYS weakens, I'd think TBSI would follow. Very frustrating.
Last night I had a 1200 short position on the toad at a cost of $61.33. What a horror when I read all shippers were upgraded this morning. Stupid ANALyst. After 50% run in 2 weeks, shouldn't they downgrade on valuation?
Win,
You'd think. But some of them have massive short interests now... could be tough to downgrade.
Sounds like we trade with similar styles.
I hope you're doing better than I am this year!
-DT
DT,
People are freaked about housing and whether the Dow is going to double top or not. V will normalize once consumer confidence is restored. What that'll take is anyone's guess - good earnings, another rate cut, who knows.
I think you're right, though. You need to follow the volume, and volatility.
-BD
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