Minutemen, "This Ain't No Picnic"

This seemed fitting. I'm in a bad mood.

Who Loves The Sun?

I'm going to make this quick, because I'm still really pissed about what I just did to torpedo my day and I just want to get away from the computer.



A lot of my trades come from sectors. For example, I see all the fertilizer stocks on the move and I buy the laggard, or a sell the leader. Often, these trades will work (on a short time frame) and you can book decent profits this way.

However, now and then, you get smacked with this style.

I was up nicely at noon when I decided to head out for lunch and take a breather. I brought my board to the shop to get a fresh ding repaired and then I came back to look at the market at 2:45. All of my shorts from the morning (CF, LDK) worked like charms but I was already out of my positions.

I was pissed that I missed the sell off.

So I scanned around and saw that all the solar stocks reversed. Except TSL. So I started getting short into what I saw a little "squeeze" just after 3pm between $54 and $55. To make a long story short, TSL simply wasn't following the rest of the solars down. He kept going up and I got squeezed.

To make matters worse, I was trading this thin stock with too many shares. So, I completely blew up in the last hour of the day, wiping out all of my gains and starting the week with a bad one.

Here's the stats:

P&L, -$818
Best, LDK, $573
Worst, TSL, -$524

46,000 shares traded.
7 winners, 13 losers
170 trades.

Virtual Office, $7861. Dow, -61.13, 13,759.06.

Momojuicing, $4962 on 13,400 shares traded.
Misstrade, $3164 on 9000 shares traded.
Bubs, $290 on 3000 shares traded.
OBAT, $235 on 2800 shares traded.
Akalawoo, $152 on 41 contracts traded.
Denarii, -$6 on 1000 shares traded.
Tapeworm, -$118 on 18 contracts traded.
Me, -$818 on 46,000 shares traded.

You know, the last two times I've added new traders to the VO I've gotten smoked... Damn VO...

Anyway, some entrance! Momojuicing decided to juice enough Momo out of the market that he had to buy a second refrigerator to hold it all. Okay, awful joke. But give me a break, I just got smoked.

So to be honest, I'm a little too pissed about my own "fucktardedness" in the last hour of trade to dwell too much on the "bigger picture." I'll say this, volume still sucks in this market and I'm a little tired of it. We'll trade just over 1,300,000,000 today. Lame.

At least I'm reading a good book... Tapping The Source by Kem Nunn. I recommend it if you like surf novels. I'm going to go bury my head in it now and forget about the market until tomorrow.

New Member Of The VO

That's right. We're going to be adding and dropping members until we have the chemistry here just right. Expect more changes in the coming weeks.

Momojuicing has a new blog and it looks like it could be a winner. He's been trading for awhile, trades everyday, and more importantly, trades stocks intraday thereby making him a perfect fit for the VO.

So without further ado, please go visit his shiny new blog and see what you can learn from him.

I'm thrilled to have another intraday stock-trader in the office.