Friday, October 19, 2007

Black Moth Super Rainbow, "Sunlips"

Excellent video, great song. Has a touch of Wes Anderson in some of the shots.

Blood On The Streets? Hardly.

Perhaps it was just too much to have the anniversary of Black Monday and the 50 year (or something) anniversary of the Wilhelm Scream fall during the same week.

Whatever. Relax. The market will go back up next week. It always does.

As "Tradercaddy" sagely pointed out over at "the Fly's" to make today like the Friday before Black Monday, the market would have had to close down 3500 points (or something).


I was largely out of the market today due to "technical difficulties" at my company in the first 30 minutes of trading. So I was actually on the phone with them at 9:31 when I should have been hitting the market with all of my force. I called in a "locate" on DRYS near $126 (no joke) and they never returned my call. It's service like that that makes a man consider trading for a new company.

My best trades of the day came in DSX which didn't really follow the rest of the shippers down early, but "caught up" around 10:30.

I also made a bunch of points shorting FXI and some good money shorting PMI.

That was it. And it sucked. Today is my type of day and I missed it.

Here's to Monday!

Meanwhile. It was a crazy week. I will put up an "open thread" this weekend. Come share your trading stories for the week. Tell a joke, link whore yourself, whatever.

Anyway, here's the stats:

P&L, $2314
Best, DSX, $1097
Worst, RWT -$218

45,600 shares traded.
14 stocks traded, 9 winners, 5 losers.
182 trades.

Virtual Office, $31,329. Dow, -366.94, 13,522.02.

Me, $2314 on 45,600 shares traded.
Akalawoo, $610 on 12 contracts traded.
Tapeworm, $320 on 4 contracts traded.
Denarii, $52 on 1600 shares traded.
Momojuicing, no trades.
OBAT, -$98 on 7800 shares traded.
Bubs, -$196 on 1500 shares traded.

Wow. If you thought CNBC was stupid before today then after today you must think the entire network has gone braindead.

Listening to Maria rattle off the Market On Close "sell" orders as if they were some new element of the market melting down really pissed me off. Every day at 3:40 the market get hits with these "imbalances" and every day by 3:50, those "imbalances" are corrected.

Today, Maria made a big deal of reading off the MOC orders (though she only focused on the "sell" orders) and then made an equally big deal when many of them were filled at 3:50 (this too, happens every single day). She claimed the fact that the MOC sell orders were being filled meant that the market was "stabilizing."

Pure and utter stupidity. The best thing was that you could hear someone trying to explain to her what an MOC order actually was in the background. Like, in her decade working on the floor of the NYSE she hadn't noticed these things before...

Anyway, sorry to go off on a tangent like that. The point is, don't get your information from CNBC. Watching the TV is only useful if things are blowing up somewhere.

Misstrade made almost $3 per share traded today. That's... amazing. Almost beyond comprehension. Perhaps he will share some of his trades today via the comments section down below. Congrats, MT. Send a steak, okay?

Meanwhile, the rest of the VO really fucked around. Every single stock I "borrow" was nearly impossible to "locate" this morning, pre open... next time that happens I will take it as a sure sign that the market is about to nosedive.

Have a great weekend everyone. I will have an "open thread" up late tonight. Please come by and tell us about your week.

NOTE: This from a comment over at the Fly's site. "Ragin' Cajun said... I happen to like Maria"

And this is why his blog is "third-tier. In fact, I refuse to re-link his blog here as a "punishment" for such idiotic support.

Why Is FXI Still Halted On The NYSE???

To borrow a phase from Trading Goddess, "Wow, look at that volume!"

And all without the NYSE.... hmmm!

Oh! Look Who Showed Up For Breakfast!

By the way... just want to say one thing to all the bloggers who are like, "I don't trade OpEx days." You're silly...

NOTE: My company really sucked today.

Office Prank Gone Terribly Wrong

Had a hard time waking with all the gray and the rain. Meanwhile, this guy will have a hard time sleeping anytime soon.

Anyway, nothing too interesting in terms of earnings stocks to trade. I'll watch CAT to see if it has any effect on DE, CNH and AG but other than that, my attention will be elsewhere.

I just don't trade GOOG or ISRG even though they will be the big story stocks today.

NOTE: Meanwhile, if things are slow today I may do a "spontaneous" live chat midday. Just to shoot the shit.