Tuesday, October 2, 2007

Radiohead, "How To Disappear Completely"

In keeping with my "all Radiohead all week" theme (to celebrate the release of their new album In Rainbows, which you can download for whatever price you wish to pay on October 10th), here is a Radiohead song that makes you want to slit your wrists.

Ah! But then you realize, "If I slit my wrists, I can't listen to this song ever again" so you don't.

So, in a weird way it depresses you but then it makes you want to live.

A Good Day Of Stock Trading

A good day because I only really worked until 10:45 and then I pretty much walked away. I watched and monitored positions, but I definitely didn't overtrade.

At one point, I had $700 more in profits, but I got squeezed in all of my shorts when the market rallied between 1:00 and 3:00. I'm pissed I didn't lock those profits in, but at the same time, I had good gains on the day and I decided to try and let some positions run. This time I was wrong, but they'll come a day where I turn my $2800 gain into $4500 with that strategy.

Anyway, my best trade of the day was a short in EXM.

Over at Wallstreak we were watching the shippers. DRYS hit $100 but then sold off all the way back to $96. During that time, EXM more or less followed him and I was short about 500 shares. So, I made $846 in him. This was one of those positions that I let "ride" so as you can see, I gave back when the market rallied between 1:00 and 3:00. Probably $400 in this guy alone.

Basically, the whole morning I was selling stuff short. It was dicey for awhile, but eventually I caught nice moves in X, AZO (h/t Doug at Wallstreak), LDK and TSL. The solars and the shippers have really been great to trade.

I have my work computer off and I kind of hate to blog here on the desktop. It's a Mac and I just can't figure out how to get it into "compose" mode. So I'm signing off.

I don't even have the stats... sorry. What I remember is that I had an awesome winners to losers ratio.

Virtual Office, $11,229. Dow, -40.24, 14047.31.

Misstrade, $6025 on 21,500 shares traded.
Me, $2185 on 30,400 shares traded.
Momojuicing, $2132 on 10,600 shares traded.
Bubs, $940 on 3700 shares traded.
Akalawoo, $259 on 23 contracts traded.
OBAT, $207 on 8400 shares traded.
Denarii, vacation
Tapeworm, computer virus-ridden... porn.
Evolution, -$519 on 36,500 shares traded.

Well, back to low volume. 1,272,851,000 shares traded today on the NYSE. Yawn.

Still, it was an excellent day for the VO. Even Bubs, who's out hitting the pavement looking for a new job, made good money.

Anyway, overall, you have to really say today was a great day for the bulls. The market is acting great. Gains on higher volume and declines on lower volume. We have a lot of eco-data set to hit the last few days of this week. It will be fun to watch how the market takes it all in. When the market rallies (or at least doesn't decline) on poor data (like the housing data we got today) that is a very bullish sign indeed.

By the way, if any of you are so inclined, feel free to share your P&L in the comment section of the VO every day.

Erin Burnett Is CNBC's "Sexiest" Anchor

The votes are in. A startling 103 of you voted. It will be tough to match this poll as far as voting tally goes... apparently, sex does sell.

Perhaps I'll try violence next.

Here's the final tally to the poll question, "Which CNBC Anchor Would You Most Want To Sleep With?"

Erin Burnett, 32 votes, 31% of tally.
Becky Quick, 17 votes, 16% of tally.
Maria Bartiromo, 15 votes, 14% of tally.
Trish Regan, 11 votes, 10% of tally.
Rebecca Jarvis, 10 votes, 9% of tally.
Melissa Francis, 6 votes, 5% of tally.
Dylan Ratigan, 4 votes, 3% of tally.
Melissa Lee, 3 votes, 2% of tally.
Jim Cramer, 3 votes, 2% of tally.
Bertha Coombs, 2 votes, 1% of tally.

UPDATE: OKAY, Okay... just kidding... clearly, that's not Erin... it's some other "news" anchor.

Anyway, watch Chris Matthews hit on Erin in this clip. Notice how bright red he gets at the end of the clip.

Swing Updates

Sold 50 GRMN @ $108.18. Position closed.
Sold 50 POT @ $112.24. 50 shares remaining.
Bought 200 DSL @ $59.18. 78% of float sold short... housing rallies on bad numbers.
Short 100 LAZ @ $44.27. This short position is getting old, fast. Still, I added to it.
Sell 100 WNR @ $38.58. Stock is down after getting upgraded. WTF?

As you can see, I initiated a new position in DSL. I mean, the stock is mostly sold short. Even if there's bad news, shorts will cover pushing the price higher.

I also added to my LAZ short position. I'm not loving it though... we'll see.

So as of right now, my swing account reads:

50 POT
100 NMX
200 DSL
-200 LAZ

A Solid Morning

The day didn't start out too great.

I woke at 5:20 to get to my buddy's house at 5:45 so we could carpool to the beach. When I got there, all was dark. I peered over their backyard gate and saw his wetsuit in a wet ball and his surfboard laying on the wet grass, covered by a towel as if it had died.

In a stage whisper I called over the gate, "Shithead! Wake up! It's me!" and listened for bedsheet rustling for the upstairs windows... nothing. I crunched through the gravel, got back in my car, and drove off into the dark morning.

I don't particularly like paddling out alone. Especially with the swell coming up, but when I got to the beach I was the first surfer there. I pulled my cold wetsuit on and walked towards the sand where there was a group of 4 old men surfcasting.

"Anything biting?" I asked.

An old guy wearing a baseball cap stuck full of pins and fishing lures turned towards me and joked, "Things were great out there until that one large shark showed up and scared all the fish away." His other 3 buddies snickered and twittered. That's when I reached down and pulled a large rock out of the sand and walked towards them.

"Are you guys going to laugh when I take this rock and bash your old-men-skulls to pieces?" I said, menacing them with the rock.

I shook my head at them and walked into the water.

I surfed for about 3 hours yesterday afternoon and upon chesting my board in the water I realized that my arms were not fully recovered. They were tired and aching. With no other surfers in the water as a reference point and the sun not yet risen, it was lonely out there getting to the spot where the waves were breaking. The swell had come up more since yesterday afternoon. I estimated it to be between 2.5 and 3.5 feet but the winds were gusting easterly and really making it sloppy.

I caught a few waves but didn't really have any great rides. The waves were closing out and sloppy. I put my chin down on my board and paddled back to shore.

The old men gave me wide berth.

A couple of surfers had shown up and were watching the waves while sipping coffee and sitting on benches.

"Kind of crappy out there, eh?" one offered.

"Yeah, a real slop and chop," I replied.

And that was it for surfing.

As for trading, I made some good money with shorts in EXM, X, LDK, TSL and AZO. I also caught MOS off the bottom for some quick money.

Basically, I'm done until the afternoon. Maybe today is the day where I should be bagging 10 grand again, I don't know. But whatever, I like walking away. I have some shorts in, some have already squeezed me out of about $400 in profits but for now, I'm out of here.

Erin Burnett Closing In On "Victory"

Just another feather in her cap I'm sure... you know, perhaps this doesn't seem like a big deal to her now, but when she's old and washed up perhaps she'll stumble across this poll and get a nice laugh from it.

For now, it seems that she will be the reigning "sex queen" of CNBC according to the readers at Dinosaur Trader.

I'd love for the poll to get up to 100 votes by the way, we have 5 hours left to get there. Regardless, it's a record for a Dinosaur Trader poll. Thanks for your participation.

And, it looks like sometime in the last week, we went over the 1000 comments made mark on the site. I think that you can really judge the health of a blog by the participation and comments it receives, so thanks for commenting. It keeps the blog alive.

UPDATE: We just hit 100 votes! Sweet!

Position Update: WNR

WNR upgraded this morning to Market Perform from Underperform @ BMOC.

Well, whaddya know? I guess sometimes it's better to be lucky than good.

Depending on how the stock acts based on this news, I may keep this trade a little longer than originally planned. If it rallies and stays strong I'll keep with it. If it opens up and sells on the news, I'll bail.

It's also nice to see GRMN and POT gapping higher!

UPDATE: HAHA! Looks like it's going to open lower on the upgrade. Go figure!

"Dark Noon" by Tom Clavin

First of all, I just want to say that this isn't a book review. It's more like a "book comment."

About a month ago, I was sitting on my favorite bench overlooking my surf break and I struck up a conversation with another surfer. We began talking about surf books (I had just finished "In Search of Captain Zero") and he said, "You should check out this book "Dark Noon" by Tom Clavin. It's not about surfing, it's about a fishing boat that capsized, but it's a sweet read."

So on the way home I stopped at the local (not Barnes and Noble or Borders...) bookstore and picked up the book. As you know, I've been getting a lot of my books from the library recently but for whatever reason, I shelled it out for this one. While I was in between library books, I began reading "Dark Noon." (And again, if you haven't been to your local library recently, go check it out. With the "interloan library system" chances are whatever you want, book, DVD or CD can be had through your library. I'm still not sure why I've purchased anything in the last 5 years...)

Now, the book is about a fishing boat that sunk off of Long Island in 1951. The first third of the book is basically an introduction to each passenger. I mean, the author literally describes what almost every passenger was doing that morning up until the time they boarded the "Fisherman's Express" to head out to Montauk.

While I was reading this portion of the book, I was pretty bored. I thought it was dry and repetitive. That said, after finishing the book, I recognize why Clavin did it that way. Because when the boat finally goes down, you feel like you "know" all of the people on it and it made the book very sad.

The final 2/3 of the book really flies by. The way the author reconstructed the day and got inside of the characters heads was amazing and I was angry every time I had to put the book down to attend to something. If the phone rang this weekend while I was reading the book, I didn't pick up.

In short, if you're looking for a book to read I would pick this one up. Just know the beginning is a little slow but get through it and it's all worth it. I'd especially read this book if you are interested in fishing, the sea, or live near a fishing village or the sea.