Thursday, October 11, 2007

Weekend "Conversation" At Dino's Place

So all I plan on doing is opening up a thread and letting people have at it in the comments section. I mean, there's no reason why people can't do that now, so I'm not sure how successful this "idea" will be, but I just want to try to foster more of a conversation here.

Earnings season is coming up. I'd love people to just discuss swing trades they are planning on making, stocks they'll be watching in the coming week, etc.

Or you can discuss politics, music, books, whatever. If you want to say something, say it here on the weekends.

Why? Because I'm too busy on most weekends to post "properly" but throwing in comments here and there could be fun.

It's your forum, use it!

Mike Tyson Bites Evander

Last night Eckhart Tolle, tonight, Mike Tyson. Go figure.

The Robots Freaked Out

(First of all, be sure to try out my new fancy stock widget. Click on the blue box next to the stock symbols in this post. From that link you can click on the stock's profile, see a graph, get news, etc.)

At 1:00 I was busy emailing people and commenting on other blogs, whining about how I was getting smoked. My neck was killing me and I was making a mess of my keyboard with the Tiger Balm. It stank of peppermint in my office. Meanwhile, my daughter was downstairs "foot painting" with Judy and had just made a mess of a rug.

It was a bad day.

But you know, if you're feeling a little "no" all you have to do is add some "yes" to the "no" and things normally start to work out. Luckily, I have some friends in the ECB who were about to supply some "yes" for my day. Isn't life strange?

The first indication that something was wrong with the market was when I made money in a short trade. The stock was UBB.

I got short around $144 and covered just over $142. That got my blood flowing again and I realized that something was up. Weakness was really showing in the futures. Candles not retracing at all... red cliff forming quickly.

I don't know what I did or in what order, but I know I got massively short BEN and ANW. I also got short MLM and JRJC. All of those stocks turned into big winners for me. My other big winner, TNH, was a long.

I bought TNH when it was still in the middle of that first huge drop. I got filled on 400 shares at $121.98 and basically closed my eyes. It was like my PCP trade on my last huge day (in August). Sometimes, when things get wacky and extreme you just have to jump in... no price target, no "R" calculation... you just have to react.

Anyway, the stock retraced nicely. I missed the drop down to $116. What a fucked up stock.

If I was creating a "watchlist" today for future long positions, BEN would be on that list. Why? Because of the way it held up amidst the carnage. Also, JCI. Still, BEN was my best stock today because of the money I made on the short side during the selloff.

My worst stock of the day was DSL... he basically twisted the knife that he inserted in my back yesterday. I lost about $400 in him.

Anyway, like I said in the VO post, thank goodness we got some volatility today although I expect it to be short lived. But I guess you never know, perhaps Uncle Ben will freak everyone out tomorrow during his "talk." I mean look at this old picture of him... anything is possible.

Here's the stats:

P&L, $7443
BEN, $2430
DSL, -$395

63,800 shares traded.
26 stocks traded, 19 winners, 7 losers.
234 trades.

Virtual Office, $25,100. Dow, -64.54, 14014.05

Me, $7443 on 63,800 shares traded.
Evolution, $1424 on 31,000 shares traded.

Akalawoo, $710 on 6 contracts traded.
OBAT, $563 on 6600 shares traded.
Bubs, $478 on 2800 shares traded.
Tapeworm, $345 on 2 contracts traded.

Denarii, $59 on 2000 shares traded.
Momojuicing, -$17 on 600 shares traded.

Volume! Volatility! Mass Hysteria and PANIC! These are a few of my favorite things.

Some European guy says we need to be tough on inflation and the market freaks out?

It was fun while it lasted, but Uncle Ben speaks tomorrow. The market will be forced to rebound.

Anyway, it was a good day for the VO and really, a healthy day for the market. Look, I don't know what changed this year but at some point people (robots?) decided that they wanted the market to go up everyday and that that was the new normal. Then, when the market decided to take a break in August, the FED came in and saved everyone's ass.

Damn robots don't know how to take profits in an orderly fashion. That's my new theory. They all pump into the same trades with their "algorithms" and all take profits at the same time, creating these mini-panics now and then. Fine...

Volume was finally "good" today as we traded 1,507,556,000 shares today on the NYSE. I'm also extremely relieved to see a little volatility back in the market just ahead of earnings season, even if my "swing account" got demolished.

Babysitting now. Daily post will be late.

P.S. Vote on the damn poll... it's an easy one.

Wallstreak Is Fucked

The site goes down everyday... what gives?

"Clarence The Rodent Of Stock Market Volatility"


Dr. Brady Barr... Biggest Idiot Ever?

Please, whatever you do, don't watch this damn show. I'm just putting this link up because it's hilarious that people would be this stupid in search of fame.

Choppy Morning

This post is really a test. I'm working on getting a new link up for the stock symbols.

So far, the only thinks I have working are longs in CMI and TNH. The rest of my morning has been a bit of a chopfest. But I guess if you take a look at the tight range we've been in since the open that kind of makes sense.

UPDATE: The symbol links now work. That's good news. The bad news is that I got smoked.

Rare Sports Observation

Islanders 2, Rangers 1.

While I have sworn off all national sports, I was a kid when the Islanders were in their dynasty years and I just can't shake them. Too many good memories.

Anyway, there's nothing sweeter than the Islanders beating up on the Rangers as they did last night.

They did it a couple of weeks back as well. Watch as DiPietro owns the Rangers goalie.