Tuesday, July 17, 2007

Smashing Pumpkins, "Cherub Rock"

Way back when the Smashing Pumpkins were good. Now, of course, they suck.

Bought A New Surfboard... Oh, And I Traded

Yeah, that's right. I haven't made money in months but I decided to buy a new surfboard anyway. I kind of see it as a George Bush play... it makes no sense to do it (Iraq) but I did it anyway and I'm not going to worry about the consequences too much. Perhaps in 2014 when I my daughter has to go to the local beauty school instead of college I'll look back and be like, "Oh, that was an irresponsible mistake."

So that took my entire afternoon.

As for the morning, I traded and overall, traded well.

My best stock was once again BTJ an issue that has played very well on the short side recently. Other trades of note were a good short in OSK (even though I covered a point early) and a decent short in TNH (which, again, I covered way early).

My worst stock of the day was UBB. I love the way the daily graph looks on the long side and I just got too aggressive and tried to buy a couple of times. Once I made money and once I didn't. One of these days soon it will have a big move again. It's been a good trader recently.

Anyway, overall, if I take away my blowup from early last week I've been doing well. And despite that blowup I'm feeling more confident with the market action. Perhaps it's the knowledge that I've asked my company to cut me off if I lose $500 or maybe it's because the majority of my trades have been working in my favor... whatever the case, it's a welcome feeling.

If I can rebound from my blowup and manage to finish July in the green I'll be more than happy to take a couple of vacation weeks in August and come back ready for September.

Anyway, here's the stats:

P&L, $662
Best, BTJ, $354
Worst, UBB, -$134

shares traded, 12,200
15 stocks traded, 8 winners, 7 losers
total trades, 78

Virtual Office, $2310. Dow, +20.57, 13971.55.

Misstrade, $941 on 3600 shares traded.
HPT, $800 on 6 contracts traded.
Me, $662 on 12,200 shares traded.
Evolution, $311 on 32,400 shares traded.
OBAT, $138 on 2000 shares traded.
Bubs, $1 on 1000 shares traded.
Denarii, -$543 on 2500 shares traded.

Well, it was a pretty slow but overall good day for the VO today.

The market felt choppy all day to me so it was hard to have conviction one way or the other. It sucks to have a big round number like 14,000 hanging around. It just messes with everyone's head and it gives the hand-clappers on CNBC something to yap about. Boring. Yawn. Kill me.

Anyway, any day that a majority of the VOers are in the green with no major blowups is a good day by me. Let's do this again tomorrow when the first big wave of earnings news hits.

Studio, "Life's A Beach (Prins Thomas Remix)