Friday, November 2, 2007

Virtual Office, $5150. Dow, +27.23, 13595.10.

Me, $2087 on 60,600 shares traded.
Akalawoo, $1346 on 8 contracts traded.
Dehtrader, $1150 on 1900 shares traded.
Evolution, $363 on 101,400 shares traded.
OBAT, $184 on 16,600 shares traded.
Wincity, $61 on 1200 shares traded.
Stewie, no trades, vacation.
Denarii, -$41 on 1300 shares traded.

Well, they brought the Dow and Nasdaq positive into the close... rah! rah! Dow 50,000! NOT!

Meanwhile, volume was good again as we crested the 1.7 billion level and volatility was good, despite the fact that the VIX closed negative.

I'm neither a bull or a bear, I'm a trader. As a trader I can say this, the market feels very heavy. However, that said, you could easily spot the leadership in the market today as the ferts and techs took off.

Sure, you could say that the selling is confined to one sector. This is largely true... however, it's confined to the most important sector in the whole friggin market. To pretend that the woes of the financial sector won't bleed all over the rest of the market eventually is a bit crazy in my opinion.

But look, I'm usually wrong about broad market moves. So, you can go into the weekend knowing that the Dow probably will get to 50,000 sometime next week.

A good day for the VO as almost everyone finished in the green. Evolution told me he was having a better day and gave a lot back, I had the same situation, even though I poked out midday for some surf. Had I hung around all day, I probably would have given it all back.

I suck like that.

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