Beastie Boys, "Looking Down The Barrel Of A Gun"

I listened to Paul's Boutique on my drive to the beach today. What a great album, 21 years later. Definitely their best.

Paddling Nowhere

My first trade of the day should have been my only trade of the day. I short 1200 shares of BBD between $31.85 and $31.75 because the MOFO line diverged with the MILF indicator telling me I would make 76.3 "R" on the trade.



Alas, I covered it all by $31.50. Why? Because I don't like to let my winners run. Instead, I take small winners and then slowly bleed away profits by overtrading.

Dinostyle.

Last week (after one of my bad days) my Dad called me. He said, "I don't get it. I read the blog at night and I think 'Sounds like he figured out what he's doing wrong this time. He really nailed it.' but then I see you making the same mistakes the next day."

Well, guess what... I overtraded again.

Meanwhile, to get back to the positive aspects of my day, I made some good trades in DSX.



First I got long and then I got short. All due to the trading action in DRYS which was much discussed this morning on Wallstreak. The thing about Wallstreak is that everyone was watching the only strong sector today (the shippers) and that kind of screwed with my bearishness. Had I focused on the short side today (as the AD lines were instructing) I would have been much better off.

I split midday because of some idiot named Mateo (perhaps more on Mateo if I finish the post I started today titled, "Mateo The Idiot") who called my surf buddy and told him there was surf. There was none. However, it's been weeks since we had surf here and I was desperate. In the end, it screwed me up because I came back and seeing that the market had stabilized I decided it was ready to rally.

So I began buying stock just before 3pm. I got washed out by 3:15 and almost gave away all of my profits. I more or less sold the bottom.



And, I walked away.

I pulled my wetsuit on and walked down to the bay. I strapped on my leash, pushed my board into the calm water, walked in along side of it until I was up to my waist in the water and then hoisted myself up. I began to paddle with absolutely no idea where I was paddling to. I probably paddled about a mile in the now chilly water. It was the only thing that was going to make me feel better today after giving back all my money.

Fuck Mateo. I'll get that post about him up by Wednesday. Also, I recognize that this post needs to be heavily edited, but we're heading out to a dinner soon and I don't think I'll be back in time to edit it, so I apologize for the sloppiness. It was either a fast post or nothing.

Here's the stats:

P&L, $350
Best, DSX, $611
Worst, UBB, -$479

26,000 shares traded.
14 stocks traded, 7 winners, 7 losers.
81 trades.

Virtual Office, $8589. Dow, -108.28, 13,984.80.

Evolution, $1007 on 21,800 shares traded.
OBAT, $501 on 11,400 shares traded.
Momojuicing, $492 on 9000 shares traded.
Me, $350 on 26,000 shares traded.
Akalawoo, $118 on 4 contracts traded.
Denarii, no trades.
Bubs, no trades.
Tapeworm, -$289 on 4 contracts traded.

Well, it was a pretty good day for the VO as almost everyone finished in the green. The only straggler was our lowly futures trader, Tapeworm.

Volume came in above Friday's abysmal levels with 1,287,430,000 shares traded. However, that's still pretty crappy. The disappearing volume should be some story by now however I don't really hear it being spoke of much. What gives?

Despite the big rate cut, I'm very nervous about this market. I tried to be bullish for awhile, but I'm just not feeling it anymore. Volume only comes on the downside. It's making me worry.

Are we due for a hit soon?

In the weekend thread, HPT called for a big fall today... he got a fall but the late afternoon resilience kept it from being "big." We'll see.

WSJ Online Remembers 1987

On this 20 year anniversary of Black Monday.

Ted Weisberg says some very interesting stuff when asked about what lessons he took from the day.

Some old footage as well.

Going Surfing

I shouldn't do this because the market is tanking and I'm making quick and easy money. However, money isn't everything and I haven't surfed for 2 weeks due to various back/neck ailments and lack of waves.

Need to practice what I preach.

Radiohead's"In Rainbows" Reviewed By Pitchfork

Why bother even trying to write record reviews when you have these guys? I can't remember the last time I disagreed with them.

At this point, I trust their judgement so much that if they rate an album over 9 I just go out and buy it. That's how in line I am with them.

Now if only there was a stock blogger out there making calls that were as trustworthy...

Here's a beautiful song that they mention in the review.

And here's another article about them in The Times. (h/t Denarii)